Financial and business statistics.
A3 GUIDE TO TABLES
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
A4 Reserves, money stock, and debt measures
A5 Reserves of depository institutions and Reserve Bank
credit
A6 Reserves and borrowings--Depository
institutions
Policy Instruments
A7 Federal Reserve Bank interest rates
A8 Reserve requirements of depository institutions
A9 Federal Reserve open market transactions
Federal Reserve Banks
A10 Condition and Federal Reserve note statements
A11 Maturity distribution of loan and security
holding
Monetary and Credit Aggregates
A12 Aggregate reserves of depository institutions
and monetary base
A13 Money stock and debt measures
Commercial Banking Institutions--Assets
and Liabilities
A15 All commercial banks in the United States
A16 Domestically chartered commercial banks
A17 Large domestically chartered commercial banks
A19 Small domestically chartered commercial banks
A20 Foreign-related institutions
Financial Markets
A22 Commercial paper outstanding
A22 Prime rate charged by banks on short-term
business loans
A23 Interest rates--Money and capital markets
A24 Stock market--Selected statistics
Federal Finance
A25 Federal fiscal and financing operations
A26 U.S. budget receipts and outlays
A27 Federal debt subject to statutory limitation
A27 Gross public debt of U.S. Treasury--Types
and ownership
A28 U.S. government securities
dealers--Transactions
A29 U.S. government securities dealers--Positions
and financing
A30 Federal and federally sponsored credit
agencies--Debt outstanding
Securities Markets and Corporate Finance
A31 New security issues--Tax-exempt state and local
governments and corporations
A32 Open-end investment companies--Net sales
and assets
A32 Corporate profits and their distribution
A32 Domestic finance companies--Assets and liabilities
A33 Domestic finance companies--Owned and managed
receivables
Real Estate
A34 Mortgage markets--New homes
A35 Mortgage debt outstanding
Consumer Credit
A36 Total outstanding
A36 Terms
Flow of Funds
A37 Funds raised in U.S. credit markets
A39 Summary of financial transactions
A40 Summary of credit market debt outstanding
A41 Summary of financial assets and liabilities
DOMESTIC NONFINANCIAL STATISTICS
Selected Measures
A42 Nonfinancial business activity
A42 Labor force, employment, and unemployment
A43 Output, capacity, and capacity utilization
A44 Industrial production--Indexes and gross value
A46 Housing and construction
A47 Consumer and producer prices
A48 Gross domestic product and income
A49 Personal income and saving
INTERNATIONAL STATISTICS
Summary Statistics
A50 U.S. international transactions
A51 U.S. foreign trade
A51 U.S. reserve assets
A51 Foreign official assets held at Federal Reserve
Banks
A52 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
A52 Liabilities to, and claims on, foreigners
A53 Liabilities to foreigners
A55 Banks' own claims on foreigners
A56 Banks' own and domestic customers' claims on
foreigners
A56 Banks' own claims on unaffiliated foreigners
A57 Claims on foreign countries--Combined
domestic offices and foreign branches
Reported by Nonbanking Business
Enterprises in the United States
A58 Liabilities to unaffiliated foreigners
A59 Claims on unaffiliated foreigners
Securities Holdings and Transactions
A60 Foreign transactions in securities
A61 Marketable U.S. Treasury bonds and
notes--Foreign transactions
Interest and Exchange Rates
A62 Foreign exchange rates
A63 GUIDE TO SPECIAL TABLES AND
STATISTICAL RELEASES
A64 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 Statistics [] June 2002
1.10 RESERVES, MONEY STOCK, AND DEBT MEASURES
Percent annual rate of change, seasonally adjusted (1)
2001
Monetary or credit aggregate Q2 Q3 Q4
Reserves of depository
institutions (2)
1 Total 4.0 76.3 -30.2
2 Required 6.4 14.8 23.2
3 Nonborrowed 2.9 65.0 -20.4
4 Monetary base (3) 6.2 14.8 6.5 (r)
Concepts of money and
debt (4)
5 M1 6.0 16.5 1.5
6 M2 9.5 (r) 11.5 (r) 9.4 (r)
7 M3 13.7 (r) 10.3 12.3 (r)
8 Debt 5.7 5.7 7.0 (r)
Nontransaction components
9 In M2 (5) 10.5 (r) 10.0 (r) 11.7
10 In M3 only (6) 23.1 7.9 (r) 18.7 (r)
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 20.1 19.7 23.3
12 Small time (7) -7.6 -10.4 -12.1
13 Large time (8), (9) -1.1 -8.2 -7.9
Thrift institutions
14 Savings, including MMDAs 22.0 25.2 27.1
15 Small time (7) 4.1 -5.1 -11.8
16 Large time (8) 11.5 14.9 3.3
Money market mutual funds
17 Retail 5.7 (r) 7.1 (r) 8.9 (r)
18 Institution-only 49.7 27.2 49.2
Repurchase agreements and
eurodollars
19 Repurchase agreements (10) 18.9 -9.0 (r) -1.5 (r)
20 Eurodollars (10) 7.0 -1.0 -1.9 (r)
Debt components (4)
21 Federal -7.0 3.1 3.9
22 Nonfederal 8.6 6.3 7.6 (r)
2002 2001
Monetary or credit aggregate Q1 Nov. Dec.
Reserves of depository
institutions (2)
1 Total -11.9 -124.9 5.7
2 Required -11.5 -133.1 1.3
3 Nonborrowed -11.6 -124.1 6.2
4 Monetary base (3) 8.8 -1.8 (r) 9.4
Concepts of money and
debt (4)
5 M1 5.1 2.2 (r) 15.0
6 M2 5.2 9.8 9.3
7 M3 4.9 13.4 10.4
8 Debt n.a. 7.3 (r) 6.3 (r)
Nontransaction components
9 In M2 (5) 5.2 11.8 (r) 7.7
10 In M3 only (6) 4.1 21.3 (r) 12.7 (r)
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 20.2 28.3 (r) 23.0
12 Small time (7) -16.1 -16.1 -18.7
13 Large time (8), (9) 10.4 -10.3 7.2
Thrift institutions
14 Savings, including MMDAs 27.3 26.1 14.1
15 Small time (7) -14.7 -14.4 -13.2
16 Large time (8) -1.7 -15.5 -7.3
Money market mutual funds
17 Retail -12.1 3.7 (r) 2.2
18 Institution-only -.9 33.0 26.2
Repurchase agreements and
eurodollars
19 Repurchase agreements (10) 9.4 55.5 (r) 3.2 (r)
20 Eurodollars (10) 5.8 22.1 -16.7 (r)
Debt components (4)
21 Federal n.a. -.1 3.1
22 Nonfederal n.a. 8.9 (r) 7.0 (r)
2002
Monetary or credit aggregate Jan. Feb. (r) Mar.
Reserves of depository
institutions (2)
1 Total 12.0 -4.3 -11.3
2 Required 19.6 -3.5 -12.5
3 Nonborrowed 12.5 -3.7 -12.7
4 Monetary base (3) 12.0 9.6 6.3
Concepts of money and
debt (4)
5 M1 3.1 1.3 2.1
6 M2 2.2 6.5 -1.4
7 M3 -1.1 (r) 6.2 .6
8 Debt 2.1 (r) 5.1 n.a.
Nontransaction components
9 In M2 (5) 2.0 8.0 -2.4
10 In M3 only (6) -8.4 (r) 5.5 5.1
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 18.8 21.9 5.1
12 Small time (7) -17.3 -14.5 -12.7
13 Large time (8), (9) 20.9 (r) 4.6 17.6
Thrift institutions
14 Savings, including MMDAs 24.2 41.7 30.0
15 Small time (7) -19.8 -12.8 -8.1
16 Large time (8) 11.6 -6.3 -7.3
Money market mutual funds
17 Retail -19.8 (r) -15.3 -27.5
18 Institution-only -30.2 -.8 1.6
Repurchase agreements and
eurodollars
19 Repurchase agreements (10) 2.3 (r) 12.2 -7.3
20 Eurodollars (10) -7.3 (r) 37.4 11.5
Debt components (4)
21 Federal -.5 7.5 n.a.
22 Nonfederal 2.7 (r) 4.6 n.a.
(1.) Unless otherwise noted, rates of change are calculated from
average amounts outstanding during preceding month or quarter.
(2.) Figures incorporate adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements (See also
table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock, plus
(3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all weekly reporters
whose vault cash exceeds their required reserves) the seasonally
adjusted, break-adjusted difference between current vault cash and the
amount applied to satisfy current reserve requirements.
(4.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign banks
and official institutions, less cash items in the process of collection
and Federal Reserve float, and (4) other checkable deposits (OCDs),
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift institutions.
Seasonally adjusted M1 is computed by summing currency, travelers
checks, demand deposits, and OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings (including MMDAs), (2) small-denomination time
deposits (time deposits--including retail RPs--in amounts of less than
$100,000), and (3) balances in retail money market mutual funds.
Excludes individual retirement accounts (IRAs) and Keogh balances at
depository institutions and money market funds. Seasonally adjusted M2
is calculated by summing savings deposits, small-denomination time
deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted M1.
M3:M2 plus (1) large-denomination time deposits (in amounts of $100,000
or more), (2) balances in institutional money funds, (3) RP liabilities
(overnight and term) issued by all depository institutions, and (4)
eurodollars (overnight and term) held by U.S. residents at foreign
branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Excludes amounts held by depository
institutions, the U.S. government, money market funds, and foreign
banks and official institutions. Seasonally adjusted M3 is calculated
by summing large time deposits, institutional money fund balances, RP
liabilities, and eurodollars, each seasonally adjusted separately, and
adding this result to seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government, not
including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally adjusted
separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small time
deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and foreign
banks and official institutions.
(10.) Includes both overnight and term.
Money Stock and Bank Credit
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT (1)
Millions of dollars
Average of daily figures
2002
Factor Jan. Feb. Mar.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 631,094 631,364 636,572
U.S. government
securities (2)
2 Bought outright--
System account (3) 558,206 564,721 573,087
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 34,752 29,562 26,689
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 45 13 6
9 Seasonal credit 15 17 19
10 Special Liquidity 0 0 0
Facility credit
11 Extended credit 0 0 0
12 Float 384 74 -38
13 Other Federal Reserve
assets 37,683 36,967 36,799
14 Gold stock 11,045 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 33,237 (r) 33,503 (r) 33,575
ABSORBING RESERVE FUNDS
17 Currency in circulation 634,083 (r) 636,140 (r) 640,031
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 425 410 421
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 6,999 4,906 5,551
21 Foreign 185 189 126
22 Service-related balances
and adjustments 8,980 9,226 9,549
23 Other 241 229 218
24 Other Federal Reserve
liabilities and capital 17,527 17,748 18,244
25 Reserve balances with
Federal Reserve
Banks (5) 9,135 9,262 9,250
End-of-month figures
Jan. Feb. Mar.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 640,289 636,381 642,186
U.S. government
securities (2)
2 Bought outright--
System account (3) 561,376 567,634 575,356
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 37,500 34,499 29,500
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 10 61 0
9 Seasonal credit 9 7 19
10 Special Liquidity 0 0 0
Facility credit
11 Extended credit 0 0 0
12 Float 3,656 -1,232 -476
13 Other Federal Reserve
assets 37,728 35,402 37,776
14 Gold stock 11,045 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 33,471 (r) 33,549 (r) 33,605
ABSORBING RESERVE FUNDS
17 Currency in circulation 631,141 (r) 638,325 (r) 641,848
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 415 414 412
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 13,688 5,752 5,692
21 Foreign 162 89 256
22 Service-related balances
and adjustments 9,017 9,048 9,870
23 Other 286 254 181
24 Other Federal Reserve
liabilities and capital 17,385 17,792 18,163
25 Reserve balances with
Federal Reserve
Banks (5) 14,909 11,499 12,614
Average of daily figures for week
ending on date indicated
2002
Factor Feb. 13 Feb. 20 Feb. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 627,817 636,437 631,999
U.S. government
securities (2)
2 Bought outright--
System account (3) 562,646 565,884 567,332
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 26,464 34,750 28,856
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 31 2 5
9 Seasonal credit 24 16 12
10 Special Liquidity 0 0 0
Facility credit
11 Extended credit 0 0 0
12 Float 9 -58 33
13 Other Federal Reserve
assets 38,633 35,833 35,752
14 Gold stock 11,044 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 33,490 (r) 33,510 (r) 33,529 (r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 635,017 (r) 638,840 (r) 637,836 (r)
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 408 407 410
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 4,976 4,892 4,696
21 Foreign 314 136 127
22 Service-related balances
and adjustments 9,376 9,445 9,061
23 Other 222 219 218
24 Other Federal Reserve
liabilities and capital 17,715 17,791 17,887
25 Reserve balances with
Federal Reserve
Banks (5) 6,525 11,461 8,537
Wednesday figures
Feb. 13 Feb. 20 Feb. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 628,252 640,357 635,346
U.S. government
securities (2)
2 Bought outright--
System account (3) 564,317 566,822 568,702
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty (4) 25,500 35,749 31,999
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 2 1 10
9 Seasonal credit 19 14 12
10 Special Liquidity 0 0 0
Facility credit
11 Extended credit 0 0 0
12 Float -497 2,244 -1,341
13 Other Federal Reserve
assets 38,901 35,517 35,954
14 Gold stock 11,044 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 33,490 (r) 33,510 (r) 33,529 (r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 637,408 (r) 639,792 (r) 638,893 (r)
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 407 409 414
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 4,108 4,946 4,908
21 Foreign 356 81 79
22 Service-related balances
and adjustments 9,376 9,445 9,061
23 Other 212 241 212
24 Other Federal Reserve
liabilities and capital 17,602 17,501 17,654
25 Reserve balances with
Federal Reserve
Banks (5) 5,519 14,695 10,898
Average of daily figures for
week ending on date indicated
2002
Factor Mar. 6 Mar. 13 Mar. 20 Mar. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 636,235 634,241 637,270 635,201
U.S. government
securities (2)
2 Bought outright--
System account (3) 568,510 571,914 574,098 575,740
3 Held under repurchase
agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10 10
5 Held under repurchase
agreements 0 0 0 0
6 Repurchase agreements--
triparty (4) 32,392 25,043 26,614 22,214
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 13 3 6 14
9 Seasonal credit 14 20 20 20
10 Special Liquidity 0 0 0 0
Facility credit
11 Extended credit 0 0 0 0
12 Float -374 727 -376 -171
13 Other Federal Reserve
assets 35,671 56,524 36,897 37,374
14 Gold stock 11,044 11,044 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 33,549 33,563 33,577 33,591
ABSORBING RESERVE FUNDS
17 Currency in circulation 638,543 639,608 640,009 640,588
18 Reverse repurchase
agreements--triparty (4) 0 0 0 0
19 Treasury cash holdings 415 421 429 422
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,473 4,801 6,511 5,198
21 Foreign 124 124 95 86
22 Service-related balances
and adjustments 9,048 9,479 9,234 10,181
23 Other 248 229 207 205
24 Other Federal Reserve
liabilities and capital 18,007 18,596 18,276 18,096
25 Reserve balances with
Federal Reserve
Banks (5) 11,171 7,789 9,330 7,258
Wednesday figures
Mar. 6 Mar. 13 Mar. 20 Mar. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 641,428 633,336 640,563 637,341
U.S. government
securities (2)
2 Bought outright--
System account (3) 570,091 572,728 573,844 576,093
3 Held under repurchase
agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10 10
5 Held under repurchase
agreements 0 0 0 0
6 Repurchase agreements--
triparty (4) 35,249 24,000 28,550 24,000
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 10 0 3 1
9 Seasonal credit 18 22 22 21
10 Special Liquidity 0 0 0 0
Facility credit
11 Extended credit 0 0 0 0
12 Float -58 -103 1,093 -343
13 Other Federal Reserve
assets 36,108 36,679 37,041 37,559
14 Gold stock 11,044 11,044 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 33,549 33,563 33,577 33,591
ABSORBING RESERVE FUNDS
17 Currency in circulation 640,379 640,617 641,199 642,639
18 Reverse repurchase
agreements--triparty (4) 0 0 0 0
19 Treasury cash holdings 419 430 424 412
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,410 4,997 5,600 5,009
21 Foreign 75 316 74 71
22 Service-related balances
and adjustments 9,048 9,479 9,234 10,181
23 Other 241 205 219 203
24 Other Federal Reserve
liabilities and capital 18,252 18,114 17,949 17,913
25 Reserve balances with
Federal Reserve
Banks (5) 14,396 5,985 12,684 7,747
(1.) Amounts of cash held as reserves are shown in table 1.12, line 2.
(2.) Includes securities loaned--fully guaranteed by U.S. government
securities pledged with Federal Reserve Banks--and excludes securities
sold and scheduled to be bought back under matched sale-purchase
transactions.
(3.) Includes compensation that adjusts for the effects
of inflation on the principal of inflation-indexed securities.
(4.) Cash value of agreements arranged through third-party custodial
banks. These agreements are collateralized by U.S. government and
federal agency securities.
(5.) Excludes required clearing balances and adjustments to compensate
for float.
1.12 RESERVES AND BORROWINGS Depository Institutions (1)
Millions of dollars
Prorated monthly averages of
biweekly averages
1999 2000 2001
Reserve classification Dec. Dec. Dec. Sept.
1 Reserve balances with
Reserve Banks (2) 5,262 7,022 9,059 25,633
2 Total vault cash (3) 60,620 45,245 43,918 43,436
3 Applied vault
cash (4) 36,392 31,451 31,896 31,934
4 Surplus vault
cash (5) 24,228 13,794 12,023 11,502
5 Total reserves (6) 41,654 38,473 40,955 57,567
6 Required reserves 40,357 37,046 39,315 38,549
7 Excess reserve
balances at
Reserve Banks (7) 1,297 1,427 1,641 19,019
8 Total borrowing at
Reserve Banks 320 210 67 3,385
9 Adjustment 179 99 34 3,292
10 Seasonal 67 111 33 93
11 Special Liquidity
Facility (8) 74 0 ... ...
12 Extended credit 0 0 0 0
Prorated monthly averages of
biweekly averages
2001
Reserve classification Oct. Nov. Dec. Jan.
1 Reserve balances with
Reserve Banks (2) 12,552 8,944 9,059 10,009
2 Total vault cash (3) 45,021 43,065 43,918 45,730 (r)
3 Applied vault
cash (4) 32,509 31,214 31,896 33,465
4 Surplus vault
cash (5) 12,512 11,851 12,023 12,266
5 Total reserves (6) 45,061 40,158 40,955 43,474
6 Required reserves 43,739 38,672 39,315 42,069
7 Excess reserve
balances at
Reserve Banks (7) 1,321 1,487 1,641 1,405
8 Total borrowing at
Reserve Banks 127 84 67 50
9 Adjustment 60 51 34 33
10 Seasonal 67 33 33 17
11 Special Liquidity
Facility (8) ... ... ... ...
12 Extended credit 0 0 0 0
Prorated Biweekly averages
monthly of daily figures
averages of for two-week
biweekly periods ending on
averages dates indicated
2002 2001
Feb.
Reserve classification (r) Mar. Nov. 28 Dec. 12
1 Reserve balances with
Reserve Banks (2) 9,277 9,134 9,626 8,587
2 Total vault cash (3) 45,697 42,634 42,766 42,081
3 Applied vault
cash (4) 33,119 31,124 31,528 30,727
4 Surplus vault
cash (5) 12,578 11,510 11,238 11,355
5 Total reserves (6) 42,396 40,257 41,154 39,314
6 Required reserves 41,023 38,857 39,707 37,938
7 Excess reserve
balances at
Reserve Banks (7) 1,373 1,401 1,447 1,375
8 Total borrowing at
Reserve Banks 30 79 53 60
9 Adjustment 12 59 22 26
10 Seasonal 17 20 32 34
11 Special Liquidity
Facility (8) ... ... ... ...
12 Extended credit 0 0 0 0
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
2001 2002
Reserve classification Dec. 26 Jan. 9 Jan. 23 Feb. 6
1 Reserve balances with
Reserve Banks (2) 9,219 9,747 10,646 9,191
2 Total vault cash (3) 45,197 44,748 43,723 (r) 50,350 (r)
3 Applied vault
cash (4) 32,659 32,566 32,569 36,044
4 Surplus vault
cash (5) 12,539 12,182 11,154 (r) 14,306 (r)
5 Total reserves (6) 41,878 42,313 43,215 45,235
6 Required reserves 40,018 40,651 41,971 43,837
7 Excess reserve
balances at
Reserve Banks (7) 1,860 1,662 1,243 1,398
8 Total borrowing at
Reserve Banks 60 105 28 26
9 Adjustment 24 83 15 8
10 Seasonal 36 22 14 18
11 Special Liquidity
Facility (8) ... ... ... ...
12 Extended credit 0 0 0 0
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
2002
Mar. 6
Reserve classification Feb. 20 (r) Mar. 20 Apr. 3
1 Reserve balances with
Reserve Banks (2) 8,984 9,854 8,571 9,457
2 Total vault cash (3) 45,420 (r) 42,694 42,270 43,065
3 Applied vault
cash (4) 32,614 (r) 31,809 30,564 31,462
4 Surplus vault
cash (5) 12,806 (r) 10,885 11,706 11,602
5 Total reserves (6) 41,598 (r) 41,663 39,135 40,919
6 Required reserves 40,184 40,382 37,846 39,310
7 Excess reserve
balances at
Reserve Banks (7) 1,414 (r) 1,281 1,289 1,609
8 Total borrowing at
Reserve Banks 37 22 24 180
9 Adjustment 17 9 4 157
10 Seasonal 20 13 20 23
11 Special Liquidity
Facility (8) ... ... ... ...
12 Extended credit 0 0 0 0
(1.) Data in this table also appear in the Board's H.3 (502) weekly
statistical release. For ordering address, see inside front cover. Data
are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to compensate
for float and includes other off-balance-sheet "as-of" adjustments.
(3.) Vault cash eligible to satisfy reserve requirements. It includes
only vault cash held by those banks and thrift institutions that are
not exempt from reserve requirements. Dates refer to the maintenance
periods in which the vault cash can be used to satisfy reserve
requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "nonbound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current reserve
requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus applied
vault cash (line 3).
(7.) Total reserves (line 5) less required reserves (line 6).
(8.) Borrowing at the discount window under the terms and conditions
established for the Century Date Change Special Liquidity Facility in
effect from October 1, 1999, through April 7, 2000.
(9.) Consists of borrowing at the discount window under the terms and
conditions established for the extended credit program to help
depository institutions deal with sustained liquidity pressures.
Because there is not the same need to repay such borrowing promptly as
with traditional short-term adjustment credit, the money market effect
of extended credit is similar to that of nonborrowed reserves.
Policy Instruments
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Adjustment credit (1)
Federal Reserve On
Bank 5/10/02 Effective date Previous rate
Boston 1.25 12/11/01 1.50
New York 1.25 12/11/01 1.50
Philadelphia 1.25 12/11/01 1.50
Cleveland 1.25 12/13/01 1.50
Richmond 1.25 12/13/01 1.50
Atlanta 1.25 12/13/01 1.50
Chicago 1.25 12/11/01 1.50
St. Louis 1.25 12/12/01 1.50
Minneapolis 1.25 12/13/01 1.50
Kansas City 1.25 12/13/01 1.50
Dallas 1.25 12/13/01 1.50
San Francisco 1.25 12/11/01 1.50
Current and previous levels
Seasonal credit (2)
Federal Reserve On
Bank 5/10/02 Effective date Previous rate
Boston 1.80 4/18/02 1.85
New York 1.80 4/18/02 1.85
Philadelphia 1.80 4/18/02 1.85
Cleveland 1.80 4/18/02 1.85
Richmond 1.80 4/18/02 1.85
Atlanta 1.80 4/18/02 1.85
Chicago 1.80 4/18/02 1.85
St. Louis 1.80 4/18/02 1.85
Minneapolis 1.80 4/18/02 1.85
Kansas City 1.80 4/18/02 1.85
Dallas 1.80 4/18/02 1.85
San Francisco 1.80 4/18/02 1.85
Current and previous levels
Extended credit (3)
Federal Reserve On
Bank 5/10/02 Effective date Previous rate
Boston 2.30 4/18/02 2.35
New York 2.30 4/18/02 2.35
Philadelphia 2.30 4/18/02 2.35
Cleveland 2.30 4/18/02 2.35
Richmond 2.30 4/18/02 2.35
Atlanta 2.30 4/18/02 2.35
Chicago 2.30 4/18/02 2.35
St. Louis 2.30 4/18/02 2.35
Minneapolis 2.30 4/18/02 2.35
Kansas City 2.30 4/18/02 2.35
Dallas 2.30 4/18/02 2.35
San Francisco 2.30 4/18/02 2.35
Range rates for adjustment credit in
recent years (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1981 12 12
1982--July 20 11.5-12 11.5
23 11.5 11.5
Aug. 2 11-11.5 11
3 11 11
16 10.5 10.5
27 10-10.5 10
30 10 10
Oct. 12 9.5-10 9.5
13 9.5 9.5
Nov. 22 9-9.5 9
26 9 9
Dec. 14 8.5-9 9
15 8.5-9 8.5
17 8.5 8.5
1984--Apr. 9 8.5-9 9
13 9 9
Nov. 21 8.5-9 8.5
26 8.5 8.5
Dec. 24 8 8
1985--May 20 7.5-8 7.5
24 7.5 7.5
1986--Mar. 7 7-7.5 7
10 7 7
Apr. 21 6.5-7 6.5
23 6.5 6.5
July 11 6 6
Aug. 21 5.5-6 5.5
22 5.5 5.5
1987--Sept. 4 5.5-6 6
11 6 6
1988--Aug. 9 6-6.5 6.5
11 6.5 6.5
1989--Feb. 24 6.5-7 7
27 7 7
1990--Dec. 19 6.5 6.5
1991--Feb. 1 6-6.5 6
4 6 6
Apr. 30 5.5-6 5.5
May 2 5.5 5.5
1991--Sept. 13 5-5.5 5
17 5 5
Nov. 6 4.5-5 4.5
7 4.5 4.5
Dec. 20 3.5-4.5 3.5
24 3.5 3.5
1992--July 2 3-3.5 3
7 3 3
1994--May 17 3-3.5 3.5
18 3.5 3.5
Aug. 16 3.5-4 4
18 4 4
Nov. 15 4-4.75 4.75
17 4.75 4.75
1995--Feb. 1 4.75-5.25 5.25
9 5.25 5.25
1996--Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998--Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000--Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
2001--Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001--May 15 3.50-4.00 3.50
17 3.50 3.50
June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
In effect May 10, 2002 1.25 1.25
(1.) Available on a short-term basis to help depository institutions
meet temporary needs for funds that cannot be met through reasonable
alternative sources. The highest rate established for loans to
depository institutions may be charged on adjustment credit loans of
unusual size that result from a major operating problem at the
borrower's facility.
(2.) Available to help relatively small depository institutions meet
regular seasonal needs for funds that arise from a clear pattern of
intrayearly movements in their deposits and loans and that cannot be
met through special industry lenders. The discount rate on seasonal
credit takes into account rates charged by market sources of funds and
ordinarily is reestablished on the first business day of each two-week
reserve maintenance period; however, it is never less than the discount
rate applicable to adjustment credit.
(3.) May be made available to depository institutions when similar
assistance is not reasonably available from other sources, including
special industry lenders. Such credit may be provided when exceptional
circumstances (including sustained deposit drains, impaired access to
money market funds, or sudden deterioration in loan repayment
performance) or practices involved only a particular institution, or to
meet the needs of institutions experiencing difficulties adjusting to
changing market conditions over a longer period (particularly at times
of deposit disintermediation). The discount rate applicable to
adjustment credit ordinarily is charged on extended-credit loans
outstanding less than thirty days; however, at the discretion of the
Federal Reserve Bank, this time period may be shortened. Beyond this
initial period, a flexible rate somewhat above rates charged on market
sources of funds is charged. The rate ordinarily is reestablished on
the first business day of each two-week reserve maintenance period, but
it is never less than the discount rate applicable to adjustment credit
plus 50 basis points.
(4.) For earlier data, see the following publications of the Board of
Governors: Banking and Monetary Statistics, 1914-1941, and 1941-1970;
and the Annual Statistical Digest, 1970-1979, and 1980-1989. See also
the Board's Statistics: Releases and Historical Data web pages
(http://www.federalreserve.gov/releases/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Percentage of
Type of deposit deposits Effective date
Net transaction accounts (2)
1 $0 million-$41.3 million (3) 3 12/27/01
2 More than $41.3 million (4) 10 12/27/01
3 Nonpersonal time deposits (5) 0 12/27/90
4 Eurocurrency liabilities (6) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly, on a
pass-through basis, with certain approved institutions. For previous
reserve requirements, see earlier editions of the Annual Report or the
Federal Reserve Bulletin. Under the Monetary Control Act of 1980,
depository institutions include commercial banks, savings banks,
savings and loan associations, credit unions, agencies and branches of
foreign banks, and Edge Act corporations.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instruments, payment orders of withdrawal, or telephone or
preauthorized transfers for the purpose of making payments to third
persons or others. However, accounts subject to the roles that permit
no more than six preauthorized, automatic, or other transfers per month
(of which no more than three may be by check, draft, debit card, or
similar order payable directly to third parties) are savings deposits,
not transaction accounts.
3. The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change in
transaction accounts held by all depository institutions, determined as
of June 30 of each year. Effective with the reserve maintenance period
beginning December 27, 2001, for depository institutions that report
weekly, and with the period beginning January 17, 2002, for
institutions that report quarterly, the amount was decreased from $42.8
million to $41.3 million.
Under the Garn-St Germain Depository Institutions Act of 1982, the
Board adjusts the amount of reservable liabilities subject to a zero
percent reserve requirement each year for the succeeding calendar year
by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual basis
as of June 30. No corresponding adjustment is made in the event of a
decrease. The exemption applies only to accounts that would be subject
to a 3 percent reserve requirement. Effective with the reserve
maintenance period beginning December 27, 2001, for depository
institutions that report weekly, and with the period beginning January
17, 2002, for institutions that report quarterly, the exemption was
raised from $5.5 million to $5.7 million.
(4.) 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.
(5.) For institutions that report weekly, the reserve requirement on
nonpersonal time deposits with an original maturity of less than 1.5
years was reduced from 3 percent to 1.5 percent for the maintenance
period that began 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.
(6.) The reserve requirement on eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as the
reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
Type of transaction
and maturity 1999 2000 2001
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 0 8,676 15,503
2 Gross sales 0 0 0
3 Exchanges 464,218 477,904 542,736
4 For new bills 464,218 477,904 542,736
5 Redemptions 0 24,522 10,095
Others within one year
6 Gross purchases 11,895 8,809 15,663
7 Gross sales 0 0 0
8 Maturity shifts 50,590 62,025 70,336
9 Exchanges -53,315 -54,656 -72,004
10 Redemptions 1,429 3,379 16,802
One to five years
11 Gross purchases 19,731 14,482 22,814
12 Gross sales 0 0 0
13 Maturity shifts -44,032 -52,068 -45,211
14 Exchanges 42,604 46,177 64,519
Five to ten years
15 Gross purchases 4,303 5,871 6,003
16 Gross sales 0 0 0
17 Maturity shifts -5,841 -6,801 -21,063
18 Exchanges 7,583 6,585 6,063
More than ten years
19 Gross purchases 9,428 5,833 8,531
20 Gross sales 0 0 0
21 Maturity shifts -717 -3,155 -4,062
22 Exchanges 3,139 1,894 1,423
All maturities
23 Gross purchases 45,357 43,670 68,513
24 Gross sales 0 0 0
25 Redemptions 1,429 28,301 26,897
Matched transactions
26 Gross purchases 4,413,430 4,415,905 4,722,667
27 Gross sales 4,431,685 4,397,835 4,724,743
Repurchase agreements
28 Gross purchases 281,599 0 0
29 Gross sales 301,273 0 0
30 Net change in U.S.
Treasury securities 5,999 33,439 39,540
FEDERAL AGENCY
OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 0 0
33 Redemptions 157 51 120
Repurchase agreements
34 Gross purchases 360,069 0 0
35 Gross sales 370,772 0 0
36 Net change in federal
agency obligations -10,859 -51 -120
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 304,989 890,236 1,497,713
40 Gross sales 164,349 987,501 1,490,838
41 Net change in triparty
obligations 140,640 -97,265 6,875
42 Total net change in
System Open Market
Account 135,780 -63,877 46,295
2001
Type of transaction
and maturity Aug. Sept. Oct. Nov.
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 2,899 348 772 3,075
2 Gross sales 0 0 0 0
3 Exchanges 55,231 42,268 44,132 59,292
4 For new bills 55,231 42,268 44,132 59,292
5 Redemptions 0 1,543 0 0
Others within one year
6 Gross purchases 1,385 0 1,411 1,408
7 Gross sales 0 0 0 0
8 Maturity shifts 9,379 0 6,535 5,873
9 Exchanges -6,873 0 -11,809 -9,559
10 Redemptions 1,055 0 473 0
One to five years
11 Gross purchases 810 851 22 1,920
12 Gross sales 0 0 0 0
13 Maturity shifts -9,379 0 -2,164 -3,073
14 Exchanges 5,290 0 11,809 7,967
Five to ten years
15 Gross purchases 935 0 422 459
16 Gross sales 0 0 0 0
17 Maturity shifts 1,043 0 -4,372 -1,824
18 Exchanges 1,043 0 0 1,592
More than ten years
19 Gross purchases 720 0 1,184 0
20 Gross sales 0 0 0 0
21 Maturity shifts -1,043 0 0 -975
22 Exchanges 540 0 0 0
All maturities
23 Gross purchases 6,749 1,199 3,811 6,862
24 Gross sales 0 0 0 0
25 Redemptions 1,055 1,543 473 0
Matched transactions
26 Gross purchases 406,143 508,129 431,887 377,247
27 Gross sales 405,627 515,429 425,110 378,129
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in U.S.
Treasury securities 6,211 -7,645 10,114 5,980
FEDERAL AGENCY
OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0 0
32 Gross sales 0 0 0 0
33 Redemptions 0 0 0 0
Repurchase agreements
34 Gross purchases 0 0 0 0
35 Gross sales 0 0 0 0
36 Net change in federal
agency obligations 0 0 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0 0
38 Gross sales 0 0 0 0
Repurchase agreements
39 Gross purchases 105,000 406,930 110,885 121,530
40 Gross sales 101,595 388,805 113,715 130,080
41 Net change in triparty
obligations 3,405 18,125 -2,830 -8,550
42 Total net change in
System Open Market
Account 9,616 10,480 7,284 -2,570
2001 2002
Type of transaction
and maturity Dec. Jan. Feb.
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 812 2,772 1,042
2 Gross sales 0 0 0
3 Exchanges 43,771 55,521 54,619
4 For new bills 43,771 55,521 54,619
5 Redemptions 0 0 0
Others within one year
6 Gross purchases 2,942 0 2,894
7 Gross sales 0 0 0
8 Maturity shifts 5,235 0 0
9 Exchanges -6,666 0 0
10 Redemptions 0 0 0
One to five years
11 Gross purchases 634 2,872 1,101
12 Gross sales 0 0 0
13 Maturity shifts -5,235 0 0
14 Exchanges 6,666 0 0
Five to ten years
15 Gross purchases 101 0 334
16 Gross sales 0 0 0
17 Maturity shifts 0 0 0
18 Exchanges 0 0 0
More than ten years
19 Gross purchases 448 582 1,054
20 Gross sales 0 0 0
21 Maturity shifts 0 0 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 4,937 6,226 6,425
24 Gross sales 0 0 0
25 Redemptions 0 0 0
Matched transactions
26 Gross purchases 387,033 407,791 367,906
27 Gross sales 390,617 404,296 368,060
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S.
Treasury securities 1,354 9,720 6,271
FEDERAL AGENCY
OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 0 0
33 Redemptions 0 0 0
Repurchase agreements
34 Gross purchases 0 0 0
35 Gross sales 0 0 0
36 Net change in federal
agency obligations 0 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 117,650 118,550 101,749
40 Gross sales 103,900 131,300 104,750
41 Net change in triparty
obligations 13,750 -12,750 -3,001
42 Total net change in
System Open Market
Account 15,104 -3,030 3,270
(1.) Sales, redemptions, and negative figures reduce holdings of the
System Open Market Account; all other figures increase such holdings.
(2.) Transactions exclude changes in compensation for the effects of
inflation on the principal of inflation-indexed securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve
Note Statements (1)
Millions of dollars
Wednesday
2002
Account Feb. 27 Mar. 6 Mar. 13 Mar. 20
Consolidated condition statement
ASSETS
1 Gold certificate account 11,044 11,044 11,044 11,044
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,125 1,111 1,094 1,085
Loans
4 To depository institutions 22 28 22 24
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 31,999 35,249 24,000 28,550
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 568,702 570,091 572,728 573,844
11 Bought outright (4) 568,702 570,091 572,728 573,844
12 Bills 190,295 190,971 191,062 191,443
13 Notes 274,269 274,981 277,510 278,167
14 Bonds 104,138 104,138 104,156 104,235
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 600,733 605,378 596,761 602,429
17 Items in process of
collection 7,037 8,626 7,506 8,916
18 Bank premises 1,509 1,509 1,510 1,511
Other assets
19 Denominated in foreign
currencies (5) 14,193 14,508 14,591 14,530
20 All other (6) 20,262 20,103 20,576 21,003
21 Total assets 658,103 664,480 655,281 662,718
LIABILITIES
22 Federal Reserve notes 606,904 608,361 608,578 609,132
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 26,014 29,562 20,819 28,039
25 Depository institutions 20,815 23,837 15,301 22,146
26 U.S. Treasury--General
account 4,908 5,410 4,997 5,600
27 Foreign--Official accounts 79 75 316 74
28 Other 212 241 205 219
29 Deferred credit items 7,531 8,305 7,770 7,597
30 Other liabilities and
accrued dividends (7) 2,361 2,373 2,417 2,381
31 Total liabilities 642,810 648,601 639,584 647,149
CAPITAL ACCOUNTS
32 Capital paid in 7,635 7,636 7,650 7,646
33 Surplus 7,266 7,273 7,274 7,273
34 Other capital accounts 392 970 772 649
35 Total liabilities and
capital accounts 658,103 664,480 655,281 662,718
MEMO
36 Marketable U.S. Treasury
securities held in custody
for foreign and
international accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued
to Banks) 750,901 750,375 750,373 749,676
38 LESS: Held by Federal
Reserve Banks 143,997 142,014 141,795 140,545
39 Federal Reserve notes, net 606,904 608,361 608,578 609,132
Collateral held against
notes, net
40 Gold certificate account 11,044 11,044 11,044 11,044
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 0 0 0
43 U.S. Treasury and agency
securities 593,659 595,117 595,334 595,888
44 Total collateral 606,904 608,361 608,578 609,132
Wednes-
day End of month
2002 2002
Account Mar. 27 Jan. Feb. Mar.
Consolidated condition statement
ASSETS
1 Gold certificate account 11,044 11,045 11,044 11,044
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,078 1,166 1,132 1,094
Loans
4 To depository institutions 22 19 68 20
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 24,000 37,500 34,499 29,500
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 576,093 561,376 567,634 575,356
11 Bought outright (4) 576,093 561,376 567,634 575,356
12 Bills 193,104 188,341 189,229 192,364
13 Notes 278,461 268,568 274,268 278,463
14 Bonds 104,528 104,467 104,137 104,530
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 600,125 598,905 602,211 604,886
17 Items in process of
collection 7,292 11,046 5,270 5,306
18 Bank premises 1,511 1,509 1,509 1,511
Other assets
19 Denominated in foreign
currencies (5) 14,388 14,165 14,242 14,379
20 All other (6) 21,453 22,070 19,653 21,681
21 Total assets 659,092 662,105 657,262 662,100
LIABILITIES
22 Federal Reserve notes 610,539 599,252 606,322 609,749
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 23,382 38,695 26,965 28,544
25 Depository institutions 18,099 24,559 20,869 22,415
26 U.S. Treasury--General
account 5,009 13,688 5,752 5,692
27 Foreign--Official accounts 71 162 89 256
28 Other 203 286 254 181
29 Deferred credit items 7,259 6,773 6,183 5,645
30 Other liabilities and
accrued dividends (7) 2,440 2,363 2,420 2,436
31 Total liabilities 643,619 647,084 641,890 646,373
CAPITAL ACCOUNTS
32 Capital paid in 7,650 7,433 7,636 7,648
33 Surplus 7,270 7,250 7,266 7,270
34 Other capital accounts 552 338 469 809
35 Total liabilities and
capital accounts 659,092 662,105 657,262 662,100
MEMO
36 Marketable U.S. Treasury
securities held in custody
for foreign and
international accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued
to Banks) 748,344 750,502 750,608 747,765
38 LESS: Held by Federal
Reserve Banks 137,806 151,250 144,285 138,016
39 Federal Reserve notes, net 610,539 599,252 606,322 609,749
Collateral held against
notes, net
40 Gold certificate account 11,044 11,045 11,044 11,044
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 0 0 0
43 U.S. Treasury and agency
securities 597,294 586,007 593,078 596,505
44 Total collateral 610,539 599,252 606,322 609,749
(1.) Some of the data in this table also appear in the Board's
H.4.1 (503) weekly statistical release. For ordering address, see
inside front cover
(2.) Cash value of agreements arranged through third-party
custodial banks.
(3.) Face value of the securities.
(4.) Includes securities loaned--fully guaranteed by U.S. Treasury
securities pledged with Federal Reserve Banks--and includes
compensation that adjusts for the effects of inflation on the
principal of inflation-indexed securities. Excludes securities sold
and scheduled to be bought back under matched sale-purchase
transactions.
(5.) Valued monthly at market exchange rates.
(6.) Includes special investment account at the Federal Reserve Bank
of Chicago in Treasury bills maturing within ninety days.
(7.) Includes exchange-translation account reflecting the monthly
revaluation at market exchange rates of foreign exchange commitments.
Federal Reserve Banks
1.19 FEDERAL RESERVE BANKS Maturity Distribution of Loan
and Security Holding
Millions of dollars
Wednesday
2002
Type of holding and maturity Feb. 27 Mar. 6 Mar. 13 Mar. 20
1 Total loans 22 28 22 24
2 Within fifteen days (1) 22 15 7 24
3 Sixteen days to ninety days 0 14 16 0
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 568,702 570,091 572,728 573,844
6 Within fifteen days (1) 28,483 16,853 17,402 25,007
7 Sixteen days to ninety days 117,816 129,529 130,581 124,213
8 Ninety-one days to one year 132,889 133,416 133,362 132,506
9 One year to five years 157,109 157,379 158,466 159,197
10 Five years to ten years 51,446 51,953 51,955 51,957
11 More than ten years 80,959 80,960 80,962 80,965
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen days to ninety days 0 0 0 0
15 Ninety-one days to one year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
Wednes-
day End of month
2002 2002
Type of holding and maturity Mar. 27 Jan. Feb. Mar.
1 Total loans 22 19 68 20
2 Within fifteen days (1) 22 17 64 18
3 Sixteen days to ninety days 0 2 4 1
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 576,093 561,376 567,634 575,355
6 Within fifteen days (1) 23,545 7,322 4,223 9,609
7 Sixteen days to ninety days 126,066 122,862 121,710 139,985
8 Ninety-one days to one year 133,777 142,024 152,122 133,054
9 One year to five years 159,198 157,648 157,174 159,198
10 Five years to ten years 52,249 51,627 51,446 52,250
11 More than ten years 81,259 79,894 80,958 81,259
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen days to ninety days 0 0 0 0
15 Ninety-one days to one year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
(1.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(2.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS
AND MONETARY BASE (1)
Billions of dollars, averages of daily figures
1998 1999 2000 2001
Item Dec. Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 45.14 41.82 38.54 41.10
2 Nonborrowed reserves (4) 45.02 41.50 38.33 41.03
3 Nonborrowed reserves plus
extended credit (5) 45.02 41.50 38.33 41.03
4 Required reserves 43.62 40.53 37.11 39.46
5 Monetary base (6) 513.55 593.12 584.04 634.38 (r)
Not seasonally adjusted
6 Total reserves (7) 45.31 41.89 38.53 41.07
7 Nonborrowed reserves 45.19 41.57 38.32 41.01
8 Nonborrowed reserves plus
extended credit (5) 45.19 41.57 38.32 41.01
9 Required reserves (8) 43.80 40.59 37.10 39.43
10 Monetary base (9) 518.27 600.72 590.06 639.89 (r)
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (10)
11 Total reserves (11) 45.21 41.65 38.47 40.96
12 Nonborrowed reserves 45.09 41.33 38.26 40.89
13 Nonborrowed reserves plus
extended credit (5) 45.09 41.33 38.26 40.89
14 Required reserves 43.70 40.36 37.05 39.32
15 Monetary base (12) 525.06 608.02 596.98 648.72 (r)
16 Excess reserves (13) 1.51 1.30 1.43 1.64
17 Borrowings from the Federal
Reserve .12 .32 .21 .07
2001
Item Aug. Sept. Oct.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.08 58.21 45.66
2 Nonborrowed reserves (4) 39.90 54.83 45.53
3 Nonborrowed reserves plus
extended credit (5) 39.90 54.83 45.53
4 Required reserves 38.87 39.20 44.33
5 Monetary base (6) 616.03 639.69 (r) 630.44 (r)
Not seasonally adjusted
6 Total reserves (7) 39.76 57.68 45.19
7 Nonborrowed reserves 39.58 54.29 45.06
8 Nonborrowed reserves plus
extended credit (5) 39.58 54.29 45.06
9 Required reserves (8) 38.55 38.66 43.87
10 Monetary base (9) 614.55 637.97 (r) 628.27 (r)
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (10)
11 Total reserves (11) 39.67 57.57 45.06
12 Nonborrowed reserves 39.48 54.18 44.93
13 Nonborrowed reserves plus
extended credit (5) 39.48 54.18 44.93
14 Required reserves 38.46 38.55 43.74
15 Monetary base (12) 622.04 645.73 (r) 636.37 (r)
16 Excess reserves (13) 1.21 19.02 1.32
17 Borrowings from the Federal
Reserve .18 3.39 .13
2001 2002
Item Nov. Dec. Jan.
Seasonally adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.90 41.10 41.51
2 Nonborrowed reserves (4) 40.82 41.03 41.46
3 Nonborrowed reserves plus
extended credit (5) 40.82 41.03 41.46
4 Required reserves 39.42 39.46 40.11
5 Monetary base (6) 629.47 (r) 634.38 (r) 640.70 (r)
Not seasonally adjusted
6 Total reserves (7) 40.29 41.07 43.46
7 Nonborrowed reserves 40.20 41.01 43.41
8 Nonborrowed reserves plus
extended credit (5) 40.20 41.01 43.41
9 Required reserves (8) 38.80 39.43 42.06
10 Monetary base (9) 629.77 (r) 639.89 (r) 644.12 (r)
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (10)
11 Total reserves (11) 40.16 40.96 43.47
12 Nonborrowed reserves 40.07 40.89 43.42
13 Nonborrowed reserves plus
extended credit (5) 40.07 40.89 43.42
14 Required reserves 38.67 39.32 42.07
15 Monetary base (12) 637.74 (r) 648.72 (r) 653.13 (r)
16 Excess reserves (13) 1.49 1.64 1.41
17 Borrowings from the Federal
Reserve .08 .07 .05
2002
Item Feb. (r) Mar.
Seasonally
adjusted
ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (2)
1 Total reserves (3) 41.36 40.97
2 Nonborrowed reserves (4) 41.33 40.90
3 Nonborrowed reserves plus
extended credit (5) 41.33 40.90
4 Required reserves 39.99 39.57
5 Monetary base (6) 645.84 649.24
Not seasonally
adjusted
6 Total reserves (7) 42.38 40.23
7 Nonborrowed reserves 42.35 40.15
8 Nonborrowed reserves plus
extended credit (5) 42.35 40.15
9 Required reserves (8) 41.00 38.83
10 Monetary base (9) 645.33 648.80
NOT ADJUSTED FOR CHANGES IN
RESERVE REQUIREMENTS (10)
11 Total reserves (11) 42.40 40.26
12 Nonborrowed reserves 42.37 40.18
13 Nonborrowed reserves plus
extended credit (5) 42.37 40.18
14 Required reserves 41.02 38.86
15 Monetary base (12) 654.55 658.35
16 Excess reserves (13) 1.37 1.40
17 Borrowings from the Federal
Reserve .03 .08
(1.) Latest monthly and biweekly figures are available from the Board's
H.3 (502) weekly statistical release. Historical data starting in 1959
and estimates of the effect on required reserves of changes in reserve
requirements are available from the Money and Reserves Projections
Section, Division of Monetary Affairs, Board of Governors of the
Federal Reserve System, Washington, DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements.
(See also table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves (line 4) plus
excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves equal
seasonally adjusted, break-adjusted total reserves (line 1) less total
borrowings of depository institutions from the Federal Reserve
(line 17).
(5.) Extended credit consists of borrowing at the discount window under
the terms and conditions established for the extended credit program to
help depository institutions deal with sustained liquidity pressures.
Because there is not the same need to repay such borrowing promptly as
with traditional short-term adjustment credit, the money market effect
of extended credit is similar to that of nonborrowed reserves.
(6.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock,
plus (3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
seasonally adjusted, break-adjusted difference between current vault
cash and the amount applied to satisfy current reserve requirements.
(7.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(8.) To adjust required reserves for discontinuities that are due to
regulatory changes in reserve requirements, a multiplicative procedure
is used to estimate what required reserves would have been in past
periods had current reserve requirements been in effect. Break-adjusted
required reserves include required reserves against transactions
deposits and nonpersonal time and savings deposits (but not reservable
nondeposit liabilities).
(9.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component of the
money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those
weekly reporters whose vault cash exceeds their required reserves) the
break-adjusted difference between current vault cash and the amount
applied to satisfy current reserve requirements.
(10.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the effects
of discontinuities associated with regulatory changes in reserve
requirements.
(11.) Reserve balances with Federal Reserve Banks plus vault cash used
to satisfy reserve requirements.
(12.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2) required
clearing balances and adjustments to compensate for float at Federal
Reserve Banks, plus (3) the currency component of the money stock,
plus (4) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to
satisfy current reserve requirements. Since February 1984, currency
and vault cash figures have been measured over the computation
periods ending on Mondays.
(13.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
Monetary and Credit Aggregates
1.21 MONEY STOCK AND DEBT MEASURES (1)
Billions of dollars, averages of daily figures
1998 1999 2000 2001
Item Dec. Dec. Dec. Dec. (r)
Seasonally adjusted
Measures (2)
1 M1 1,096.5 1,124.4 1,088.9 1,178.1
2 M2 4,386.3 4,655.0 4,942.3 5,463.2
3 M3 6,042.1 6,541.7 7,116.0 8,031.9
4 Debt 16,277.3 17,360.8 18,278.3 (r) 19,375.5
M1 components
5 Currency (3) 459.3 516.9 530.1 579.9
6 Travelers checks (4) 8.2 8.3 8.0 7.8
7 Demand deposits (5) 378.4 354.5 309.9 329.3
8 Other checkable
deposits (6) 250.5 244.7 240.9 261.2
Nontransaction
components
9 In M2 (7) 3,289.8 3,530.7 3,853.5 4,285.0
10 In M3 only (8) 1,655.8 1,886.7 2,173.6 2,568.8
Commercial banks
11 Savings deposits,
including MMDAs 1,187.5 1,289.1 1,423.7 1,746.0
12 Small time
deposits (9) 626.1 635.0 699.1 638.8
13 Large time
deposits (10),(11) 583.2 652.0 717.9 672.8
Thrift institutions
14 Savings deposits,
including MMDAs 414.7 449.7 452.1 561.4
15 Small time
deposits (9) 325.6 320.4 344.5 333.7
16 Large time
deposits (10) 88.6 91.1 102.9 113.9
Money market mutual
funds
17 Retail 736.0 836.6 934.0 1,005.1
18 Institution-only 538.2 633.6 792.5 1,197.2
Repurchase
agreements and
eurodollars
19 Repurchase
agreements (12) 293.4 336.0 364.0 372.0
20 Eurodollars (12) 152.5 174.0 196.4 212.9
Debt components
21 Federal debt 3,751.1 3,660.1 3,400.4 3,381.4
22 Nonfederal debt 12,526.3 13,700.7 14,877.9 (r) 15,994.1
Not seasonally adjusted
Measures (2)
23 M1 1,120.4 1,148.3 1,112.3 1,202.3
24 M2 4,406.4 4,675.8 4,966.0 5,488.0
25 M3 6,070.9 6,573.3 7,151.1 8,070.0
26 Debt 16,264.9 17,352.9 18,270.1 (r) 19,363.8
M1 components
27 Currency (3) 463.3 521.5 535.2 584.9
28 Travelers checks (4) 8.4 8.4 8.1 7.9
29 Demand deposits (5) 395.9 371.8 326.5 347.0
30 Other checkable
deposits (6) 252.8 246.6 242.5 262.5
Nontransaction
components
31 In M2 (7) 3,286.0 3,527.6 3,853.7 4,285.7
32 In M3 only (8) 1,664.5 1,897.5 2,185.1 2,582.0
Commercial banks
33 Savings deposits,
including MMDAs 1,186.0 1,288.8 1,426.9 1,750.4
34 Small time
deposits (9) 626.5 635.7 700.0 639.5
35 Large time
deposits (10),(11) 583.5 652.4 718.4 672.9
Thrift institutions
36 Savings deposits,
including MMDAs 414.2 449.6 453.1 562.8
37 Small time
deposits (9) 325.8 320.8 345.0 334.0
38 Large time
deposits (10) 88.6 91.2 103.0 113.9
Money market mutual
funds
39 Retail 733.5 832.8 928.7 999.0
40 Institution-only 547.5 643.2 801.4 1,208.3
Repurchase
agreements and
eurodollars
41 Repurchase
agreements (12) 290.4 334.7 364.2 372.7
42 Eurodollars (12) 154.5 176.0 198.2 214.1
Debt components
43 Federal debt 3,754.9 3,663.2 3,403.5 3,384.0
44 Nonfederal debt 12,510.0 13,689.8 14,866.6 (r) 15,979.8
2001 2002
Item Dec. (r) Jan. (r) Feb. (r) Mar.
Seasonally adjusted
Measures (2)
1 M1 1,178.1 1,181.1 1,182.4 1,184.5
2 M2 5,463.2 5,473.4 5,503.2 5,496.6
3 M3 8,031.9 8,024.3 8,065.8 8,069.9
4 Debt 19,375.5 19,410.0 19,493.1 n.a.
M1 components
5 Currency (3) 579.9 585.7 590.6 594.0
6 Travelers checks (4) 7.8 7.8 7.8 7.7
7 Demand deposits (5) 329.3 326.5 324.1 323.0
8 Other checkable
deposits (6) 261.2 261.1 259.9 259.8
Nontransaction
components
9 In M2 (7) 4,285.0 4,292.2 4,320.8 4,312.0
10 In M3 only (8) 2,568.8 2,550.9 2,562.5 2,573.3
Commercial banks
11 Savings deposits,
including MMDAs 1,746.0 1,773.3 1,805.6 1,813.2
12 Small time
deposits (9) 638.8 629.6 622.0 615.4
13 Large time
deposits (10),(11) 672.8 684.5 687.1 697.2
Thrift institutions
14 Savings deposits,
including MMDAs 561.4 572.7 592.6 607.4
15 Small time
deposits (9) 333.7 328.2 324.7 322.5
16 Large time
deposits (10) 113.9 115.0 114.4 113.7
Money market mutual
funds
17 Retail 1,005.1 988.5 975.9 953.5
18 Institution-only 1,197.2 1,167.1 1,166.3 1,167.9
Repurchase
agreements and
eurodollars
19 Repurchase
agreements (12) 372.0 372.7 376.5 374.2
20 Eurodollars (12) 212.9 211.6 218.2 220.3
Debt components
21 Federal debt 3,381.4 3,380.1 3,401.2 n.a.
22 Nonfederal debt 15,994.1 16,029.9 16,091.9 n.a.
Not seasonally adjusted
Measures (2)
23 M1 1,202.3 1,184.1 1,169.7 1,186.5
24 M2 5,488.0 5,476.8 5,494.3 5,542.2
25 M3 8,070.0 8,051.7 8,096.8 8,151.8
26 Debt 19,363.8 19,407.0 19,483.5 n.a.
M1 components
27 Currency (3) 584.9 584.3 590.1 595.0
28 Travelers checks (4) 7.9 8.0 8.0 7.9
29 Demand deposits (5) 347.0 329.0 316.2 321.7
30 Other checkable
deposits (6) 262.5 262.9 255.4 262.0
Nontransaction
components
31 In M2 (7) 4,285.7 4,292.7 4,324.6 4,355.6
32 In M3 only (8) 2,582.0 2,574.9 2,602.5 2,609.7
Commercial banks
33 Savings deposits,
including MMDAs 1,750.4 1,766.2 1,795.5 1,824.0
34 Small time
deposits (9) 639.5 631.7 623.8 615.8
35 Large time
deposits (10),(11) 672.9 677.0 685.5 699.7
Thrift institutions
36 Savings deposits,
including MMDAs 562.8 570.4 589.3 611.0
37 Small time
deposits (9) 334.0 329.3 325.7 322.7
38 Large time
deposits (10) 113.9 113.8 114.1 114.1
Money market mutual
funds
39 Retail 999.0 995.3 990.3 982.1
40 Institution-only 1,208.3 1,198.8 1,204.2 1,198.3
Repurchase
agreements and
eurodollars
41 Repurchase
agreements (12) 372.7 372.7 378.1 375.1
42 Eurodollars (12) 214.1 212.6 220.6 222.5
Debt components
43 Federal debt 3,384.0 3,372.0 3,396.3 n.a.
44 Nonfederal debt 15,979.8 16,035.1 16,087.2 n.a.
(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 20511.
(2.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign banks
and official institutions, less cash items in the process of collection
and Federal Reserve float, and (4) other checkable deposits (OCDs),
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift institutions.
Seasonally adjusted M1 is computed by summing currency, travelers
checks, demand deposits, and OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by summing savings deposits,
small-denomination time deposits, and retail money fund balances, each
seasonally adjusted separately, and adding this result to seasonally
adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government, not
including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4) Outstanding amount of U.S. dollar-denominated travelers checks of
nonbank issuers. Travelers check issued by depository institutions are
included in demand deposits.
(5) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the
U.S. government, and foreign banks and official institutions, less
cash items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small time
deposits.
(10.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and foreign
banks and official institutions.
(12.) Includes both overnight and term.
Commercial Banking Institutions--Assets and Liabilities
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
A. All commercial banks
Billions of dollars
Monthly averages
2001 2001
Account Mar. (r) Sept. (r) Oct. (r) Nov. (r)
Seasonally adjusted
Assets
1 Bank credit 5,287.8 5,429.4 5,428.7 5,459.2
2 Securities in bank
credit 1,345.6 1,443.6 1,472.1 1,488.2
3 U.S. government
securities 756.3 776.5 807.5 815.5
4 Other securities 589.4 667.2 664.6 672.6
5 Loans and leases in
bank credit (2) 3,942.2 3,985.8 3,956.6 3,971.1
6 Commercial and
industrial 1,102.2 1,064.6 1,053.4 1,042.4
7 Real estate 1,687.5 1,726.6 1,753.4 1,773.7
8 Revolving home
equity 132.4 142.7 148.9 150.7
9 Other 1,555.1 1,583.9 1,604.5 1,622.9
10 Consumer 544.0 551.8 552.1 559.6
11 Security (3) 175.7 177.0 154.2 154.1
12 Other loans and
leases 432.8 465.9 443.5 441.4
13 Interbank loans 275.3 346.6 301.9 286.1
14 Cash assets (4) 284.7 327.2 302.5 296.7
15 Other assets (5) 426.3 470.3 487.9 485.4
16 Total assets (6) 6,209.0 6,505.6 6,451.0 6,456.6
Liabilities
17 Deposits 3,950.8 4,219.6 4,181.6 4,200.2
18 Transaction 604.9 690.7 641.0 635.5
19 Nontransaction 3,345.9 3,528.9 3,540.6 3,564.7
20 Large time 946.4 965.3 982.0 984.7
21 Other 2,399.4 2,563.6 2,558.6 2,579.9
22 Borrowings 1,251.6 1,291.4 1,269.8 1,255.8
23 From banks in the
U.S. 395.3 450.8 425.4 413.8
24 From others 856.3 840.6 844.4 841.9
25 Net due to related
foreign offices 214.4 172.8 178.1 160.0
26 Other liabilities 363.3 399.4 371.2 401.7
27 Total liabilities 5,780.0 6,083.3 6,000.6 6,017.7
28 Residual (assets less
liabilities) (7) 429.0 422.3 450.4 438.9
Not seasonally adjusted
Assets
29 Bank credit 5,282.7 5,424.2 5,431.4 5,474.8
30 Securities in bank
credit 1,350.7 1,440.4 1,471.8 1,491.9
31 U.S. government
securities 761.9 773.5 804.3 816.2
32 Other securities 588.8 666.9 667.4 675.6
33 Loans and leases in
bank credit (2) 3,932.1 3,983.8 3,959.7 3,983.0
34 Commercial and
industrial 1,103.8 1,062.4 1,054.9 1,043.9
35 Real estate 1,680.4 1,728.3 1,755.2 1,778.1
36 Revolving home
equity 131.1 143.4 149.3 151.3
37 Other 1,549.3 1,584.9 1,605.9 1,626.8
38 Consumer 541.4 551.1 552.6 562.0
39 Credit cards and
related plans 208.6 217.4 216.8 225.8
40 Other 332.7 333.7 335.7 336.2
41 Security (3) 172.9 175.8 156.3 157.3
42 Other loans and
leases 433.6 466.2 440.7 441.6
43 Interbank loans 280.6 338.7 297.0 289.7
44 Cash assets (4) 275.2 323.8 304.4 306.0
45 Other assets (5) 425.9 472.8 486.6 486.6
46 Total assets (6) 6,199.2 6,491.4 6,449.6 6,486.1
Liabilities
47 Deposits 3,955.3 4,190.0 4,166.8 4,219.5
48 Transaction 600.3 683.7 635.3 641.6
49 Nontransaction 3,355.0 3,506.3 3,531.6 3,577.8
50 Large time 946.7 952.8 976.5 991.5
51 Other 2,408.3 2,553.5 2,555.1 2,586.3
52 Borrowings 1,250.1 1,286.5 1,271.4 1,258.5
53 From banks in the
U.S. 400.1 441.8 423.4 411.0
54 From others 849.9 844.6 848.0 847.6
55 Net due to related
foreign offices 215.9 173.5 177.4 163.3
56 Other liabilities 362.8 399.5 371.5 407.4
57 Total liabilities 5,784.1 6,049.5 5,987.2 6,048.7
58 Residual (assets less
liabilities) (7) 415.2 441.9 462.4 437.4
Monthly averages
2001 2002
Account Dec. (r) Jan. (r) Feb. (r) Mar.
Seasonally adjusted
Assets
1 Bank credit 5,451.6 5,435.5 5,437.0 5,425.5
2 Securities in bank
credit 1,491.2 1,491.3 1,484.5 1,481.1
3 U.S. government
securities 832.1 821.0 813.2 829.8
4 Other securities 659.2 670.3 671.2 651.3
5 Loans and leases in
bank credit (2) 3,960.3 3,944.2 3,952.5 3,944.4
6 Commercial and
industrial 1,033.4 1,024.8 1,032.1 1,029.6
7 Real estate 1,786.6 1,782.8 1,788.6 1,785.6
8 Revolving home
equity 154.0 157.2 160.5 165.9
9 Other 1,632.7 1,625.6 1,628.1 1,619.7
10 Consumer 558.4 561.2 563.8 561.7
11 Security (3) 145.6 150.2 149.8 155.8
12 Other loans and
leases 436.3 425.2 418.2 411.7
13 Interbank loans 292.6 292.4 276.4 268.3
14 Cash assets (4) 297.5 299.1 295.5 295.8
15 Other assets (5) 480.0 481.6 482.4 462.5
16 Total assets (6) 6,449.2 6,434.3 6,416.9 6,377.5
Liabilities
17 Deposits 4,242.6 4,254.1 4,266.8 4,302.3
18 Transaction 640.7 635.9 625.4 622.3
19 Nontransaction 3,601.9 3,618.1 3,641.4 3,680.0
20 Large time 983.6 996.6 1,008.5 1,020.3
21 Other 2,618.3 2,621.5 2,632.9 2,659.8
22 Borrowings 1,250.6 1,237.8 1,233.3 1,203.4
23 From banks in the
U.S. 416.0 413.4 407.2 394.5
24 From others 834.6 824.4 826.1 809.0
25 Net due to related
foreign offices 146.5 125.6 106.4 108.7
26 Other liabilities 354.7 338.6 333.4 305.9
27 Total liabilities 5,994.4 5,956.0 5,939.9 5,920.3
28 Residual (assets less
liabilities) (7) 454.8 478.3 477.0 457.2
Not seasonally adjusted
Assets
29 Bank credit 5,484.4 5,452.9 5,442.1 5,419.8
30 Securities in bank
credit 1,498.6 1,499.3 1,492.0 1,486.8
31 U.S. government
securities 836.9 826.1 820.3 836.1
32 Other securities 661.7 673.2 671.7 650.7
33 Loans and leases in
bank credit (2) 3,985.8 3,953.5 3,950.1 3,933.0
34 Commercial and
industrial 1,033.2 1,020.3 1,031.0 1,031.0
35 Real estate 1,791.0 1,782.1 1,783.5 1,778.1
36 Revolving home
equity 154.1 157.0 160.5 164.4
37 Other 1,636.9 1,625.0 1,623.0 1,613.7
38 Consumer 567.9 569.0 566.2 558.9
39 Credit cards and
related plans 232.2 228.9 225.1 221.9
40 Other 335.7 340.0 341.0 337.0
41 Security (3) 152.0 154.1 151.3 153.6
42 Other loans and
leases 441.8 428.0 418.1 411.4
43 Interbank loans 298.9 290.5 275.2 273.2
44 Cash assets (4) 317.3 312.0 296.7 286.0
45 Other assets (5) 483.1 483.2 481.4 461.9
46 Total assets (6) 6,511.0 6,464.5 6,420.7 6,366.3
Liabilities
47 Deposits 4,293.3 4,279.9 4,282.7 4,307.6
48 Transaction 669.3 649.0 620.2 617.4
49 Nontransaction 3,624.0 3,631.0 3,662.6 3,690.3
50 Large time 998.0 1,009.3 1,015.6 1,021.1
51 Other 2,625.9 2,621.6 2,646.9 2,669.2
52 Borrowings 1,250.6 1,251.3 1,236.6 1,201.9
53 From banks in the
U.S. 417.6 418.7 412.5 398.9
54 From others 832.9 832.6 824.1 803.0
55 Net due to related
foreign offices 153.1 133.0 112.8 110.3
56 Other liabilities 360.3 344.3 338.5 305.6
57 Total liabilities 6,057.3 6,008.5 5,970.7 5,925.4
58 Residual (assets less
liabilities) (7) 453.7 456.0 450.1 440.9
Wednesday figures
2002
Account Mar. 6 Mar. 13 Mar. 20 Mar. 27
Seasonally adjusted
Assets
1 Bank credit 5,421.1 5,410.0 5,426.0 5,440.0
2 Securities in bank
credit 1,484.9 1,470.1 1,488.2 1,480.9
3 U.S. government
securities 819.7 817.7 833.1 840.4
4 Other securities 665.2 652.4 655.1 640.5
5 Loans and leases in
bank credit (2) 3,936.2 3,939.9 3,937.8 3,959.1
6 Commercial and
industrial 1,030.1 1,028.3 1,032.2 1,030.6
7 Real estate 1,785.4 1,786.3 1,785.2 1,786.4
8 Revolving home
equity 163.6 164.9 165.7 167.4
9 Other 1,621.8 1,621.4 1,619.5 1,619.0
10 Consumer 561.3 558.6 563.0 563.7
11 Security (3) 150.3 153.5 148.3 164.6
12 Other loans and
leases 409.0 413.1 409.2 413.8
13 Interbank loans 265.5 266.8 264.8 277.8
14 Cash assets (4) 303.8 286.7 296.9 298.0
15 Other assets (5) 460.3 464.3 462.8 455.0
16 Total assets (6) 6,376.1 6,353.2 6,375.7 6,395.9
Liabilities
17 Deposits 4,284.6 4,291.4 4,291.3 4,324.8
18 Transaction 604.5 611.4 632.8 656.1
19 Nontransaction 3,680.1 3,680.0 3,658.5 3,668.6
20 Large time 1,008.1 1,009.5 1,017.5 1,033.0
21 Other 2,672.0 2,670.5 2,641.0 2,635.6
22 Borrowings 1,211.0 1,185.7 1,203.0 1,212.3
23 From banks in the
U.S. 398.7 391.6 391.9 394.0
24 From others 812.3 794.2 811.2 818.3
25 Net due to related
foreign offices 112.8 107.4 123.7 98.1
26 Other liabilities 310.7 311.2 297.8 300.7
27 Total liabilities 5,919.1 5,895.8 5,915.8 5,935.8
28 Residual (assets less
liabilities) (7) 457.1 457.4 459.9 460.1
Not seasonally adjusted
Assets
29 Bank credit 5,430.0 5,408.7 5,417.9 5,422.1
30 Securities in bank
credit 1,495.3 1,479.5 1,491.2 1,482.3
31 U.S. government
securities 829.3 825.2 838.0 843.8
32 Other securities 666.0 654.3 653.2 638.5
33 Loans and leases in
bank credit (2) 3,934.7 3,929.3 3,926.7 3,939.8
34 Commercial and
industrial 1,031.4 1,027.3 1,035.2 1,031.8
35 Real estate 1,779.2 1,780.1 1,776.4 1,777.2
36 Revolving home
equity 162.8 163.6 164.0 165.5
37 Other 1,616.4 1,616.4 1,612.4 1,611.8
38 Consumer 560.0 556.4 560.5 560.2
39 Credit cards and
related plans 222.9 218.9 222.8 223.7
40 Other 337.0 337.6 337.7 336.5
41 Security (3) 153.6 154.0 146.7 158.5
42 Other loans and
leases 410.5 411.4 407.9 412.0
43 Interbank loans 276.1 271.9 265.9 274.5
44 Cash assets (4) 295.5 278.2 284.0 283.7
45 Other assets (5) 462.8 463.6 461.4 449.9
46 Total assets (6) 6,389.4 6,347.6 6,354.3 6,355.5
Liabilities
47 Deposits 4,307.1 4,299.1 4,280.6 4,309.2
48 Transaction 602.2 606.7 620.8 644.4
49 Nontransaction 3,704.9 3,692.4 3,659.7 3,664.8
50 Large time 1,010.5 1,009.8 1,016.3 1,035.1
51 Other 2,694.4 2,682.6 2,643.5 2,629.7
52 Borrowings 1,214.4 1,183.4 1,207.2 1,203.5
53 From banks in the
U.S. 405.1 395.7 397.1 396.4
54 From others 809.3 787.7 810.1 807.1
55 Net due to related
foreign offices 114.8 109.1 125.2 103.6
56 Other liabilities 311.8 311.3 296.9 302.2
57 Total liabilities 5,948.1 5,902.9 5,910.0 5,918.4
58 Residual (assets less
liabilities) (7) 441.3 444.7 444.3 437.1
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
2001 2001
Account Mar. (r) Sept. (r) Oct. (r) Nov. (r)
Seasonally adjusted
Assets
1 Bank credit 4,666.3 4,833.9 4,837.4 4,861.3
2 Securities in bank
credit 1,134.3 1,217.6 1,242.3 1,252.7
3 U.S. government
securities 689.9 732.9 750.6 755.5
4 Other securities 444.4 484.7 491.7 497.2
5 Loans and leases in
bank credit (2) 3,532.0 3,616.3 3,595.1 3,608.6
6 Commercial and
industrial 885.5 863.8 856.8 846.3
7 Real estate 1,669.6 1,707.9 1,734.7 1,754.7
8 Revolving home
equity 132.4 142.7 148.9 150.7
9 Other 1,537.3 1,565.2 1,585.8 1,604.0
10 Consumer 544.0 551.8 552.1 559.6
11 Security (3) 68.7 97.0 78.8 77.1
12 Other loans and
leases 364.2 395.8 372.7 370.9
13 Interbank loans 246.0 320.9 278.2 261.1
14 Cash assets (4) 245.4 283.5 263.5 258.6
15 Other assets (5) 390.0 436.6 455.4 451.3
16 Total assets (6) 5,482.9 5,807.4 5,764.9 5,761.9
Liabilities
17 Deposits 3,562.6 3,808.8 3,758.2 3,766.7
18 Transaction 595.3 678.2 630.1 624.7
19 Nontransaction 2,967.4 3,130.6 3,128.1 3,142.0
20 Large time 570.2 569.4 572.4 565.1
21 Other 2,397.1 2,561.2 2,555.7 2,576.9
22 Borrowings 1,012.3 1,071.2 1,061.5 1,042.7
23 From banks in the
U.S. 369.2 420.1 401.4 389.4
24 From others 643.1 651.0 660.1 653.2
25 Net due to related
foreign offices 211.9 189.2 193.4 189.1
26 Other liabilities 277.8 317.8 295.4 323.9
27 Total liabilities 5,064.6 5,387.0 5,308.5 5,322.3
28 Residual (assets less
liabilities) (7) 418.2 420.4 456.4 439.6
Not seasonally adjusted
Assets
29 Bank credit 4,662.0 4,831.7 4,840.1 4,874.3
30 Securities in bank
credit 1,139.4 1,214.4 1,242.0 1,256.4
31 U.S. government
securities 695.6 730.0 747.4 756.2
32 Other securities 443.8 484.5 494.6 500.2
33 Loans and leases in
bank credit (2) 3,522.7 3,617.2 3,598.1 3,617.9
34 Commercial and
industrial 885.7 861.8 857.6 846.2
35 Real estate 1,662.5 1,709.6 1,736.5 1,759.2
36 Revolving home
equity 131.1 143.4 149.3 151.3
37 Other 1,531.4 1,566.2 1,587.1 1,607.9
38 Consumer 541.4 551.1 552.6 562.0
39 Credit cards and
related plans 208.6 217.4 216.8 225.8
40 Other 332.7 333.7 335.7 336.2
41 Security (3) 68.9 98.2 80.8 79.3
42 Other loans and
leases 364.2 396.5 370.7 371.1
43 Interbank loans 251.3 312.9 273.2 264.7
44 Cash assets (4) 236.9 280.2 264.5 265.5
45 Other assets (5) 388.6 438.6 454.7 452.7
46 Total assets (6) 5,473.9 5,795.5 5,763.2 5,786.6
Liabilities
47 Deposits 3,565.5 3,789.1 3,750.1 3,782.4
48 Transaction 590.8 671.0 624.3 630.6
49 Nontransaction 2,974.7 3,118.1 3,125.8 3,151.8
50 Large time 568.7 566.9 573.6 568.5
51 Other 2,406.0 2,551.1 2,552.2 2,583.3
52 Borrowings 1,010.8 1,066.2 1,063.1 1,045.4
53 From banks in the
U.S. 374.0 411.2 399.4 386.6
54 From others 636.8 655.0 663.7 658.9
55 Net due to related
foreign offices 210.3 188.7 194.2 193.8
56 Other liabilities 275.9 317.4 296.3 330.2
57 Total liabilities 5,062.4 5,361.4 5,303.8 5,351.7
58 Residual (assets less
liabilities) (7) 411.5 434.1 459.4 434.9
Monthly averages
2001 2002
Account Dec. (r) Jan. (r) Feb. (r) Mar.
Seasonally adjusted
Assets
1 Bank credit 4,857.3 4,847.0 4,848.5 4,835.3
2 Securities in bank
credit 1,254.1 1,257.2 1,253.5 1,255.1
3 U.S. government
securities 774.2 766.9 763.8 778.9
4 Other securities 479.9 490.3 489.7 476.1
5 Loans and leases in
bank credit (2) 3,603.1 3,589.8 3,595.1 3,580.3
6 Commercial and
industrial 838.7 831.6 834.7 828.0
7 Real estate 1,767.6 1,763.9 1,770.0 1,766.8
8 Revolving home
equity 154.0 157.2 160.5 165.9
9 Other 1,613.6 1,606.6 1,609.5 1,600.9
10 Consumer 558.4 561.2 563.8 561.7
11 Security (3) 71.4 76.3 78.4 82.2
12 Other loans and
leases 367.1 356.8 348.1 341.5
13 Interbank loans 272.1 267.1 256.5 247.2
14 Cash assets (4) 258.5 259.7 255.9 255.8
15 Other assets (5) 449.5 450.3 452.4 435.7
16 Total assets (6) 5,765.3 5,750.2 5,739.2 5,699.8
Liabilities
17 Deposits 3,797.9 3,788.1 3,795.8 3,820.8
18 Transaction 629.5 624.8 614.8 611.8
19 Nontransaction 3,168.4 3,163.4 3,181.0 3,208.9
20 Large time 553.6 544.7 552.6 551.7
21 Other 2,614.9 2,618.6 2,628.4 2,657.2
22 Borrowings 1,047.6 1,050.0 1,043.4 1,018.0
23 From banks in the
U.S. 391.2 391.1 384.3 372.9
24 From others 656.4 658.9 659.2 645.1
25 Net due to related
foreign offices 193.6 183.2 172.9 175.6
26 Other liabilities 279.2 262.9 259.0 240.6
27 Total liabilities 5318.4 5,284.2 5,271.2 5,255.0
28 Residual (assets less
liabilities) (7) 446.9 466.0 468.0 444.8
Not seasonally adjusted
Assets
29 Bank credit 4,882.6 4,858.8 4,849.6 4,829.5
30 Securities in bank
credit 1,261.5 1,265.3 1,260.9 1,260.8
31 U.S. government
securities 779.1 772.1 770.8 785.2
32 Other securities 482.4 493.2 490.1 475.6
33 Loans and leases in
bank credit (2) 3,621.1 3,593.5 3,588.7 3,568.8
34 Commercial and
industrial 836.8 826.4 832.0 828.1
35 Real estate 1,771.9 1,763.1 1,764.9 1,759.3
36 Revolving home
equity 154.1 157.0 160.5 164.4
37 Other 1,617.8 1,606.1 1,604.4 1,594.9
38 Consumer 567.9 569.0 566.2 558.9
39 Credit cards and
related plans 232.2 228.9 225.1 221.9
40 Other 335.7 340.0 341.0 337.0
41 Security (3) 73.8 76.2 77.7 82.2
42 Other loans and
leases 370.7 358.9 348.0 340.3
43 Interbank loans 278.4 265.3 255.2 252.1
44 Cash assets (4) 275.9 270.5 256.3 247.1
45 Other assets (5) 451.8 451.1 450.8 434.3
46 Total assets (6) 5,816.4 5,771.9 5,737.7 5,688.7
Liabilities
47 Deposits 3,836.2 3,803.4 3,806.3 3,823.9
48 Transaction 657.3 637.5 609.4 607.1
49 Nontransaction 3,178.9 3,165.8 3,196.8 3,216.9
50 Large time 556.5 547.2 554.5 550.3
51 Other 2,622.4 2,618.7 2,642.3 2,666.6
52 Borrowings 1,047.6 1,063.5 1,046.7 1,016.5
53 From banks in the
U.S. 392.9 396.4 389.5 377.4
54 From others 654.7 667.1 657.2 639.1
55 Net due to related
foreign offices 197.6 187.4 176.7 174.1
56 Other liabilities 283.7 267.4 263.0 239.2
57 Total liabilities 5,365.1 5,321.7 5,292.6 5,253.8
58 Residual (assets less
liabilities) (7) 451.3 450.2 445.0 434.9
Wednesday figures
2002
Account Mar. 6 Mar. 13 Mar. 20 Mar. 27
Seasonally adjusted
Assets
1 Bank credit 4,833.4 4,821.7 4,838.1 4,843.6
2 Securities in bank
credit 1,255.9 1,242.9 1,263.9 1,256.3
3 U.S. government
securities 768.4 766.7 782.7 789.7
4 Other securities 487.6 476.2 481.1 466.6
5 Loans and leases in
bank credit (2) 3,577.5 3,578.8 3,574.3 3,587.3
6 Commercial and
industrial 832.3 828.9 827.6 826.6
7 Real estate 1,766.9 1,768.1 1,766.2 1,767.2
8 Revolving home
equity 163.6 164.9 165.7 167.4
9 Other 1,603.3 1,603.1 1,600.5 1,599.8
10 Consumer 561.3 558.6 563.0 563.7
11 Security (3) 78.0 79.5 78.6 86.9
12 Other loans and
leases 338.9 343.7 338.9 342.9
13 Interbank loans 239.6 248.2 246.6 255.8
14 Cash assets (4) 264.1 247.7 255.5 258.2
15 Other assets (5) 433.4 437.7 435.8 428.7
16 Total assets (6) 5,696.2 5,681.0 5,701.6 5,711.8
Liabilities
17 Deposits 3,817.0 3,815.9 3,812.6 3,830.5
18 Transaction 593.9 601.4 622.6 644.9
19 Nontransaction 3,223.2 3,214.5 3,190.0 3,185.6
20 Large time 553.7 546.6 551.5 552.6
21 Other 2,669.5 2,667.9 2,638.5 2,633.0
22 Borrowings 1,013.9 1,002.5 1,020.1 1,031.3
23 From banks in the
U.S. 374.5 371.7 371.0 372.7
24 From others 639.4 630.8 649.1 658.6
25 Net due to related
foreign offices 170.8 168.9 186.9 175.0
26 Other liabilities 243.4 245.3 233.8 236.7
27 Total liabilities 5,245.1 5,232.7 5,253.3 5,273.5
28 Residual (assets less
liabilities) (7) 451.2 448.4 448.3 438.3
Not seasonally adjusted
Assets
29 Bank credit 4,840.2 4.819.9 4,828.9 4,826.7
30 Securities in bank
credit 1,266.3 1,252.3 1,266.9 1,257.8
31 U.S. government
securities 777.9 774.2 787.7 793.2
32 Other securities 488.4 478.1 479.2 464.6
33 Loans and leases in
bank credit (2) 3,573.9 3,567.7 3,562.0 3,568.9
34 Commercial and
industrial 832.0 827.0 828.5 826.6
35 Real estate 1,760.7 1,761.8 1,757.4 1,758.0
36 Revolving home
equity 162.8 163.6 164.0 165.5
37 Other 1,597.9 1,598.2 1,593.4 1,592.5
38 Consumer 560.0 556.4 560.5 560.2
39 Credit cards and
related plans 222.9 218.9 222.8 223.7
40 Other 337.0 337.6 337.7 336.5
41 Security (3) 81.7 81.0 78.8 84.1
42 Other loans and
leases 339.5 341.5 336.8 340.0
43 Interbank loans 250.2 253.3 247.7 252.5
44 Cash assets (4) 256.2 240.3 243.9 245.0
45 Other assets (5) 434.6 435.5 433.8 423.2
46 Total assets (6) 5,706.6 5,674.5 5,679.8 5,673.2
Liabilities
47 Deposits 3,839.0 3,823.2 3,801.3 3,808.6
48 Transaction 591.7 597.0 610.9 633.3
49 Nontransaction 3,247.3 3,226.3 3,190.4 3,175.4
50 Large time 555.5 546.3 549.5 548.2
51 Other 2,691.8 2,680.0 2,640.9 2,627.1
52 Borrowings 1,017.2 1,000.2 1,024.3 1,022.5
53 From banks in the
U.S. 380.8 375.8 376.2 375.1
54 From others 636.4 624.3 648.1 647.4
55 Net due to related
foreign offices 171.3 168.4 184.2 174.5
56 Other liabilities 244.0 244.6 231.4 236.0
57 Total liabilities 5,271.5 5,236.4 5,241.2 5,241.6
58 Residual (assets less
liabilities) (7) 435.1 438.2 438.6 431.5
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
2001 2001
Account Mar. (r) Sept. (r) Oct. (r) Nov. (r)
Seasonally adjusted
Assets
1 Bank credit 2,601.7 2,690.9 2,640.8 2,641.6
2 Securities in bank
credit 592.1 642.8 651.2 654.3
3 U.S. government
securities 344.2 367.1 369.7 370.2
4 Trading account 35.4 37.9 35.8 40.5
5 Investment
account 308.7 329.3 334.0 329.7
6 Other securities 247.9 275.6 281.5 284.1
7 Trading
account 131.9 160.8 165.7 165.4
8 Investment
account 116.0 114.9 115.8 118.7
9 State and
local
government 28.0 27.4 26.8 27.1
10 Other 88.1 87.5 89.0 91.6
11 Loans and leases in
bank credit (2) 2,009.6 2,048.1 1,989.5 1,987.3
12 Commercial and
industrial 590.5 561.9 553.8 544.8
13 Bankers
acceptances .8 .0 .0 .0
14 Other 589.7 561.9 553.8 544.8
15 Real estate 843.1 847.3 846.5 856.4
16 Revolving home
equity 84.9 90.2 93.2 94.3
17 Other 758.3 757.1 753.3 762.2
18 Consumer 248.6 254.7 244.8 246.3
19 Security (3) 60.8 88.3 70.8 69.1
20 Federal funds
sold to and
repurchase
agreements
with broker--
dealers 45.1 61.7 57.2 54.5
21 Other 15.8 26.6 13.6 14.6
22 State and local
government 13.1 14.4 15.3 15.7
23 Agricultural 10.4 9.5 9.6 9.6
24 Federal funds sold
to and repur-
chase agreements
with others 24.9 31.8 29.9 30.3
25 All other loans 86.2 109.6 94.3 90.6
26 Lease-financing
receivables 131.9 130.7 124.7 124.4
27 Interbank loans 141.2 201.8 173.1 152.4
28 Federal funds sold
to and repurchase
agreements with
commercial banks 73.7 126.7 93.0 90.0
29 Other 67.5 75.1 80.1 62.4
30 Cash assets (4) 143.6 173.4 153.6 149.5
31 Other assets (5) 287.7 308.6 322.3 320.6
32 Total assets (6) 3,136.3 3,336.6 3,250.3 3,224.3
Liabilities
33 Deposits 1,721.1 1,858.8 1,790.4 1791.7
34 Transaction 303.8 375.5 322.7 320.1
35 Nontransaction 1,417.3 1,483.3 1,467.7 1471.6
36 Large time 269.2 264.4 261.0 253.4
37 Other 1,148.1 1,218.9 1,206.7 1,218.2
38 Borrowings 682.5 715.7 688.2 663.8
39 From banks in the
U.S. 220.0 264.3 233.5 219.7
40 From others 462.6 451.4 454.7 444.1
41 Net due to related
foreign offices 196.5 178.7 184.0 178.8
42 Other liabilities 224.7 255.4 230.4 258.5
43 Total liabilities 2,824.8 3,008.6 2,892.9 2,892.9
44 Residual (assets less
liabilities) (7) 311.5 328.0 357.4 331.4
Not seasonally adjusted
Assets
45 Bank credit 2,602.0 2,686.9 2,638.5 2,649.4
46 Securities in bank
credit 595.2 640.5 651.9 658.2
47 U.S. government
securities 347.9 365.1 367.5 371.1
48 Trading account 35.8 37.7 35.5 40.6
49 Investment
account 312.0 327.4 332.0 330.5
50 Mortgage-
backed
securities 220.1 252.3 272.6 270.7
51 Other 91.9 75.1 59.4 59.8
52 One year or
less 31.9 19.0 10.3 15.2
53 One to five
years 34.5 34.6 32.0 30.4
54 More than
five years 25.6 21.4 17.1 14.2
55 Other securities 247.3 275.4 284.4 287.1
56 Trading account 131.6 160.6 167.4 167.1
57 Investment
account 115.8 114.8 117.0 120.0
58 State and
local
government 27.9 27.4 27.1 27.4
59 Other 87.9 87.4 89.9 92.5
60 Loans and leases in
bank credit (2) 2,006.8 2,046.4 1,986.6 1,991.2
61 Commercial and
industrial 591.0 561.5 554.6 545.7
62 Bankers
acceptances .8 .0 .0 .0
63 Other 590.2 561.5 554.6 545.7
64 Real estate 838.6 847.5 845.5 858.2
65 Revolving home
equity 84.1 90.5 93.2 94.4
66 Other 455.9 455.1 440.8 451.6
67 Commercial 298.6 301.9 311.4 312.3
68 Consumer 248.7 252.1 241.9 245.1
69 Credit cards and
related plans 82.7 84.7 74.3 76.5
70 Other 166.0 167.5 167.7 168.6
71 Security (3) 60.8 89.7 72.9 71.0
72 Federal funds
sold to and
repurchase
agreements
with broker--
dealers 45.1 62.6 58.9 56.0
73 Other 15.7 27.1 14.0 15.0
74 State and local
government 13.1 14.4 15.3 15.7
75 Agricultural 10.3 9.5 9.5 9.6
76 Federal funds sold
to and repur-
chase agreements
with others 26.3 32.6 28.8 30.6
77 All other loans 85.1 110.2 94.1 91.2
78 Lease-financing
receivables 132.8 128.8 124.1 124.1
79 Interbank loans 141.4 196.3 168.9 154.0
80 Federal funds sold
to and repurchase
agreements with
commercial banks 73.8 123.3 90.7 90.9
81 Other 67.6 73.0 78.2 63.1
82 Cash assets (4) 138.6 170.4 154.2 152.6
83 Other assets (5) 286.3 310.5 321.6 322.0
84 Total assets (6) 3,130.3 3,325.8 3,244.0 3,238.1
Liabilities
85 Deposits 1,719.7 1,849.5 1,786.6 1,800.7
86 Transaction 300.9 370.1 318.1 323.6
87 Nontransaction 1,418.8 1,479.4 1,468.5 1,477.0
88 Large time 267.7 261.9 262.2 256.8
89 Other 1,151.1 1,217.4 1,206.3 1,220.2
90 Borrowings 681.0 710.8 689.8 666.6
91 From banks in the
U.S. 224.8 255.4 231.5 216.9
92 From nonbanks in the
U.S. 456.2 455.4 458.3 449.7
93 Net due to related
foreign offices 194.9 178.2 184.8 183.5
94 Other liabilities 222.8 254.9 231.3 264.8
95 Total liabilities 2,818.4 2,993.4 2,892.5 2,915.6
96 Residual (assets less
liabilities) (7) 311.8 332.5 351.4 322.5
Monthly averages
2001 2002
Account Dec. (r) Jan. (r) Feb. (r) Mar.
Seasonally adjusted
Assets
1 Bank credit 2,608.6 2,576.4 2,574.9 2,556.2
2 Securities in bank
credit 638.3 636.2 631.8 630.3
3 U.S. government
securities 378.9 366.7 359.8 367.6
4 Trading account 33.9 32.6 33.6 32.7
5 Investment
account 345.0 334.2 326.2 334.9
6 Other securities 259.5 269.5 272.0 262.7
7 Trading
account 130.0 128.4 130.0 122.5
8 Investment
account 129.5 141.1 142.0 140.3
9 State and
local
government 27.3 27.5 28.0 28.0
10 Other 102.1 113.6 114.0 112.3
11 Loans and leases in
bank credit (2) 1,970.3 1,940.2 1,943.1 1,925.8
12 Commercial and
industrial 535.0 528.4 529.6 524.0
13 Bankers
acceptances .0 .0 .0 .0
14 Other 535.0 528.4 529.6 524.0
15 Real estate 858.6 846.0 847.0 840.3
16 Revolving home
equity 96.0 98.2 99.9 103.8
17 Other 762.6 747.9 747.1 736.5
18 Consumer 246.2 239.6 247.2 244.5
19 Security (3) 63.3 68.3 70.3 74.3
20 Federal funds
sold to and
repurchase
agreements
with broker--
dealers 48.4 54.9 57.4 61.1
21 Other 14.9 13.4 12.9 13.1
22 State and local
government 15.0 14.6 14.6 14.6
23 Agricultural 9.5 9.6 9.6 9.6
24 Federal funds sold
to and repur-
chase agreements
with others 28.5 26.3 22.6 20.9
25 All other loans 84.6 75.2 70.3 66.2
26 Lease-financing
receivables 129.6 132.1 131.9 131.4
27 Interbank loans 166.6 168.3 153.0 145.8
28 Federal funds sold
to and repurchase
agreements with
commercial banks 96.8 92.0 79.6 75.0
29 Other 69.7 76.2 73.3 70.8
30 Cash assets (4) 147.2 146.2 143.2 143.0
31 Other assets (5) 314.2 312.7 307.8 288.3
32 Total assets (6) 3,195.3 3,160.4 3,135.1 3,089.5
Liabilities
33 Deposits 1,800.7 1,790.4 1,788.5 1,800.1
34 Transaction 322.9 315.8 308.0 303.8
35 Nontransaction 1,477.8 1,474.5 1,480.5 1,496.3
36 Large time 248.3 242.0 249.7 248.7
37 Other 1,229.6 1,232.6 1,230.8 1,247.6
38 Borrowings 659.7 655.1 655.3 636.8
39 From banks in the
U.S. 218.8 213.7 209.1 202.9
40 From others 440.9 441.4 446.2 433.8
41 Net due to related
foreign offices 183.6 174.3 162.1 166.6
42 Other liabilities 213.9 194.0 188.4 170.1
43 Total liabilities 2,857.9 2,813.8 2,794.2 2,773.6
44 Residual (assets less
liabilities) (7) 337.4 346.6 340.9 315.9
Not seasonally adjusted
Assets
45 Bank credit 2,621.8 2,586.2 2,579.7 2,555.1
46 Securities in bank
credit 643.2 643.2 637.6 633.8
47 U.S. government
securities 381.3 370.8 365.1 371.6
48 Trading account 34.1 32.9 34.1 33.1
49 Investment
account 347.1 337.9 331.0 338.5
50 Mortgage-
backed
securities 284.6 274.5 259.6 264.2
51 Other 62.5 63.4 71.4 74.3
52 One year or
less 14.8 13.8 16.8 19.7
53 One to five
years 35.3 36.7 43.1 42.9
54 More than
five years 12.3 12.8 11.6 11.7
55 Other securities 262.0 272.4 272.4 262.2
56 Trading account 131.2 129.8 130.2 122.2
57 Investment
account 130.7 142.6 142.3 140.0
58 State and
local
government 27.6 27.8 28.1 27.9
59 Other 103.2 114.8 114.2 112.1
60 Loans and leases in
bank credit (2) 1,978.5 1,943.0 1,942.2 1,921.4
61 Commercial and
industrial 532.9 524.1 528.4 524.4
62 Bankers
acceptances .0 .0 .0 .0
63 Other 532.9 524.1 528.4 524.4
64 Real estate 860.4 845.6 843.8 835.7
65 Revolving home
equity 95.7 97.8 100.0 102.8
66 Other 453.8 440.1 436.2 425.9
67 Commercial 310.9 307.7 307.6 307.0
68 Consumer 249.3 243.5 249.7 244.7
69 Credit cards and
related plans 80.1 71.5 76.6 74.8
70 Other 169.2 172.1 173.0 169.9
71 Security (3) 65.5 68.4 69.6 74.0
72 Federal funds
sold to and
repurchase
agreements
with broker--
dealers 50.0 55.0 56.8 60.9
73 Other 15.4 13.4 12.8 13.1
74 State and local
government 15.0 14.6 14.6 14.6
75 Agricultural 9.5 9.6 9.5 9.5
76 Federal funds sold
to and repur-
chase agreements
with others 29.3 28.0 24.0 20.9
77 All other loans 86.6 75.0 69.3 65.4
78 Lease-financing
receivables 130.1 134.2 133.4 132.3
79 Interbank loans 170.4 167.7 151.2 146.0
80 Federal funds sold
to and repurchase
agreements with
commercial banks 99.0 91.7 78.7 75.1
81 Other 71.3 75.9 72.5 70.9
82 Cash assets (4) 158.3 154.4 143.9 138.1
83 Other assets (5) 316.5 313.5 306.2 286.9
84 Total assets (6) 3,225.5 3,178.8 3,137.2 3,082.2
Liabilities
85 Deposits 1,818.4 1,795.3 1,795.0 1,798.7
86 Transaction 340.8 324.5 304.6 300.8
87 Nontransaction 1,477.6 1,470.8 1,490.4 1,497.9
88 Large time 251.2 244.4 251.6 247.3
89 Other 1,226.4 1,226.4 1,238.8 1,250.7
90 Borrowings 659.7 668.6 658.6 635.2
91 From banks in the
U.S. 220.4 219.0 214.3 207.4
92 From nonbanks in the
U.S. 439.2 449.6 444.3 427.8
93 Net due to related
foreign offices 187.6 178.5 165.8 165.1
94 Other liabilities 218.3 198.5 192.3 168.7
95 Total liabilities 2,884.0 2,840.9 2,811.7 2,767.8
96 Residual (assets less
liabilities) (7) 341.5 337.9 325.5 314.4
Wednesday figures
2002
Account Mar. 6 Mar. 13 Mar. 20 Mar. 27
Seasonally adjusted
Assets
1 Bank credit 2,552.8 2,544.3 2,557.6 2,564.2
2 Securities in bank
credit 629.8 617.2 638.4 633.4
3 U.S. government
securities 357.9 355.6 370.2 379.1
4 Trading account 32.1 29.6 32.1 34.6
5 Investment
account 325.8 325.9 338.1 344.6
6 Other securities 271.9 261.6 268.1 254.2
7 Trading
account 130.4 120.0 124.1 117.5
8 Investment
account 141.5 141.6 144.0 136.8
9 State and
local
government 27.9 27.7 28.2 28.2
10 Other 113.7 113.9 115.8 108.6
11 Loans and leases in
bank credit (2) 1,923.0 1,927.1 1,919.2 1,930.8
12 Commercial and
industrial 527.0 524.4 524.2 523.3
13 Bankers
acceptances n.a. n.a. n.a. n.a.
14 Other 527.0 524.4 524.2 523.3
15 Real estate 840.9 842.1 839.0 840.0
16 Revolving home
equity 102.0 103.3 103.8 104.6
17 Other 738.9 738.8 735.3 735.4
18 Consumer 244.9 244.4 245.2 244.7
19 Security (3) 70.1 71.5 70.6 78.7
20 Federal funds
sold to and
repurchase
agreements
with broker--
dealers 58.2 58.7 56.2 65.5
21 Other 11.9 12.9 14.4 13.2
22 State and local
government 14.6 14.7 14.6 14.5
23 Agricultural 9.6 9.6 9.7 9.6
24 Federal funds sold
to and repur-
chase agreements
with others 20.1 21.1 20.6 21.3
25 All other loans 64.1 67.8 63.9 67.2
26 Lease-financing
receivables 131.6 131.5 131.4 131.3
27 Interbank loans 140.2 146.5 143.1 150.9
28 Federal funds sold
to and repurchase
agreements with
commercial banks 69.5 76.5 73.9 77.7
29 Other 70.7 70.0 69.2 73.2
30 Cash assets (4) 151.2 136.3 141.9 144.0
31 Other assets (5) 286.7 289.8 290.0 285.0
32 Total assets (6) 3,087.1 3,072.9 3,088.6 3,099.9
Liabilities
33 Deposits 1,796.1 1,795.4 1,793.9 1,808.4
34 Transaction 295.2 301.1 310.3 318.6
35 Nontransaction 1,500.9 1,494.3 1,483.6 1,489.9
36 Large time 250.4 243.3 249.2 249.8
37 Other 1,250.6 1,251.0 1,234.4 1,240.1
38 Borrowings 633.9 623.3 636.4 647.8
39 From banks in the
U.S. 202.9 202.1 198.9 203.0
40 From others 431.0 421.2 437.5 444.8
41 Net due to related
foreign offices 161.2 161.0 176.7 166.1
42 Other liabilities 172.9 174.4 162.8 166.4
43 Total liabilities 2,764.1 2,754.1 2,769.9 2,788.8
44 Residual (assets less
liabilities) (7) 323.0 318.8 318.8 311.1
Not seasonally adjusted
Assets
45 Bank credit 2,564.2 2,546.8 2,554.0 2,552.2
46 Securities in bank
credit 638.8 624.0 639.3 631.8
47 U.S. government
securities 366.1 360.6 373.1 379.6
48 Trading account 32.9 30.1 32.4 34.6
49 Investment
account 333.2 330.5 340.7 345.0
50 Mortgage-
backed
securities 260.8 257.6 265.4 269.4
51 Other 72.4 72.9 75.3 75.6
52 One year or
less 19.9 19.8 20.1 19.2
53 One to five
years 41.3 42.0 43.2 44.2
54 More than
five years 11.2 11.1 12.0 12.2
55 Other securities 272.8 263.5 266.2 252.3
56 Trading account 130.8 120.8 123.2 116.5
57 Investment
account 142.0 142.6 143.0 135.7
58 State and
local
government 28.0 27.9 28.0 28.0
59 Other 114.0 114.8 115.0 107.7
60 Loans and leases in
bank credit (2) 1,925.4 1,922.7 1,914.7 1,920.3
61 Commercial and
industrial 527.7 523.3 525.1 523.0
62 Bankers
acceptances n.a. n.a. n.a. n.a.
63 Other 527.7 523.3 525.1 523.0
64 Real estate 837.3 838.4 833.9 833.8
65 Revolving home
equity 101.5 102.4 102.6 103.3
66 Other 428.6 429.0 424.3 423.4
67 Commercial 307.2 307.0 307.0 307.0
68 Consumer 246.0 244.7 245.3 244.5
69 Credit cards and
related plans 75.9 74.5 75.0 75.1
70 Other 170.1 170.2 170.3 169.4
71 Security (3) 73.3 72.7 70.7 76.0
72 Federal funds
sold to and
repurchase
agreements
with broker--
dealers 60.9 59.6 56.3 63.3
73 Other 12.4 13.1 14.4 12.7
74 State and local
government 14.6 14.7 14.6 14.5
75 Agricultural 9.5 9.5 9.5 9.5
76 Federal funds sold
to and repur-
chase agreements
with others 20.6 21.2 20.4 21.0
77 All other loans 63.7 65.9 62.9 65.9
78 Lease-financing
receivables 132.7 132.4 132.2 132.0
79 Interbank loans 141.6 146.4 142.6 148.4
80 Federal funds sold
to and repurchase
agreements with
commercial banks 70.2 76.5 73.6 76.5
81 Other 71.4 69.9 69.0 72.0
82 Cash assets (4) 145.3 132.3 136.2 136.3
83 Other assets (5) 288.0 287.7 288.0 279.5
84 Total assets (6) 3,094.9 3,069.0 3,076.7 3,072.4
Liabilities
85 Deposits 1,807.7 1,797.9 1,785.0 1,789.9
86 Transaction 291.9 298.0 303.9 312.0
87 Nontransaction 1,515.8 1,499.9 1,481.1 1,477.9
88 Large time 252.2 243.0 247.2 245.5
89 Other 1,263.6 1,256.8 1,233.9 1,232.4
90 Borrowings 637.3 620.9 640.6 639.0
91 From banks in the
U.S. 209.3 206.2 204.2 205.4
92 From nonbanks in the
U.S. 428.0 414.8 436.5 433.6
93 Net due to related
foreign offices 161.7 160.4 174.0 165.6
94 Other liabilities 173.4 173.7 160.5 165.7
95 Total liabilities 2,780.1 2,752.9 2,760.1 2,760.2
96 Residual (assets less
liabilities) (7) 314.7 316.0 316.6 312.2
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
2001 2001
Account Mar. (r) Sept. (r) Oct. (r) Nov. (r)
Seasonally adjusted
Assets
1 Bank credit 2,064.6 2,143.0 2,196.7 2,219.7
2 Securities in bank
credit 542.2 574.9 591.1 598.4
3 U.S. government
securities 345.7 365.8 380.9 385.3
4 Other securities 196.5 209.1 210.2 213.1
5 Loans and leases in
bank credit (2) 1,522.4 1,568.2 1,605.6 1,621.3
6 Commercial and
industrial 295.0 301.9 303.1 301.5
7 Real estate 826.5 860.7 888.2 898.3
8 Revolving home
equity 47.5 52.5 55.7 56.4
9 Other 779.0 808.1 832.5 841.8
10 Consumer 295.4 297.1 307.4 313.2
11 Security (3) 7.8 8.7 8.0 7.9
12 Other loans and
leases 97.7 99.8 99.0 100.3
13 Interbank loans 104.8 119.1 105.1 108.7
14 Cash assets (4) 101.8 110.1 109.9 109.1
15 Other assets (5) 102.3 128.0 133.1 130.8
16 Total assets (6) 2,346.6 2,470.8 2,514.6 2,537.5
Liabilities
17 Deposits 1,841.6 1,950.0 1,967.8 1,975.0
18 Transaction 291.5 302.7 307.4 304.5
19 Nontransaction 1,550.1 1,647.3 1,660.4 1,670.4
20 Large time 301.0 305.0 311.4 311.7
21 Other 1,249.1 1,342.3 1,349.0 1,358.7
22 Borrowings 329.8 355.4 373.3 378.8
23 From banks in the
U.S. 149.3 155.8 167.9 169.7
24 From others 180.5 199.6 205.4 209.1
25 Net due to related
foreign offices 15.4 10.5 9.5 10.2
26 Other liabilities 53.1 62.5 65.0 65.4
27 Total liabilities 2,239.8 2,378.4 2,415.6 2,429.4
28 Residual (assets less
liabilities) (7) 106.7 92.4 99.0 108.1
Not seasonally adjusted
Assets
29 Bank credit 2,060.1 2,144.8 2,201.6 2,224.9
30 Securities in bank
credit 544.2 574.0 590.1 598.2
31 U.S. government
securities 347.7 364.9 379.9 385.2
32 Other securities 196.5 209.1 210.2 213.1
33 Loans and leases in
bank credit (2) 1,515.9 1,570.8 1,611.5 1,626.6
34 Commercial and
industrial 294.7 300.2 302.9 300.5
35 Real estate 823.9 862.1 891.0 901.0
36 Revolving home
equity 47.1 52.9 56.1 56.9
37 Other 776.8 809.2 834.9 844.1
38 Consumer 292.6 298.9 310.6 316.9
39 Credit cards and
related plans 125.9 132.7 142.6 149.3
40 Other 166.7 166.2 168.1 167.5
41 Security (3) 8.1 8.5 7.9 8.3
42 Other loans and
leases 96.6 101.0 99.0 99.9
43 Interbank loans 109.9 116.6 104.3 110.7
44 Cash assets (4) 98.4 109.7 110.3 112.9
45 Other assets (5) 102.3 128.0 133.1 130.8
46 Total assets (6) 2,343.6 2,469.7 2,519.2 2,548.5
Liabilities
47 Deposits 1,845.7 1,939.6 1,963.5 1,981.7
48 Transaction 289.9 300.9 306.2 307.0
49 Nontransaction 1,555.9 1,638.7 1,657.3 1,674.7
50 Large time 301.0 305.0 311.4 311.7
51 Other 1,254.9 1,333.7 1,345.9 1,363.0
52 Borrowings 329.8 355.4 373.3 378.8
53 From banks in the
U.S. 149.3 155.8 167.9 169.7
54 From others 180.5 199.6 205.4 209.1
55 Net due to related
foreign offices 15.4 10.5 9.5 10.2
56 Other liabilities 53.1 62.5 65.0 65.4
57 Total liabilities 2,244.0 2,368.0 2,411.2 2,436.2
58 Residual (assets less
liabilities) (7) 99.7 101.7 108.0 112.4
Monthly averages
2001 2002
Account Dec. (r) Jan. (r) Feb. (r) Mar.
Seasonally adjusted
Assets
1 Bank credit 2,248.7 2,270.7 2,273.6 2,279.2
2 Securities in bank
credit 615.8 621.0 621.7 624.7
3 U.S. government
securities 395.4 400.2 404.0 411.3
4 Other securities 220.4 220.8 217.7 213.4
5 Loans and leases in
bank credit (2) 1,632.9 1,649.7 1,652.0 1,654.4
6 Commercial and
industrial 303.7 303.2 305.1 304.0
7 Real estate 909.0 917.9 923.0 926.5
8 Revolving home
equity 57.9 59.1 60.6 62.1
9 Other 851.0 858.8 862.4 864.4
10 Consumer 312.2 321.6 316.6 317.2
11 Security (3) 8.1 8.0 8.2 7.9
12 Other loans and
leases 99.9 99.0 99.1 98.8
13 Interbank loans 105.5 98.9 103.5 101.4
14 Cash assets (4) 111.3 113.5 112.7 112.8
15 Other assets (5) 135.3 137.6 144.6 147.4
16 Total assets (6) 2,570.0 2,589.9 2,604.1 2,610.3
Liabilities
17 Deposits 1,997.2 1,997.8 2,007.3 2,020.6
18 Transaction 306.6 308.9 306.8 308.0
19 Nontransaction 1,690.6 1,688.8 1,700.4 1,712.6
20 Large time 305.3 302.8 302.9 303.0
21 Other 1,385.3 1,386.1 1,397.5 1,409.6
22 Borrowings 387.9 394.9 388.1 381.3
23 From banks in the
U.S. 172.4 177.5 175.2 170.0
24 From others 215.5 217.4 212.9 211.3
25 Net due to related
foreign offices 10.0 8.9 10.9 9.0
26 Other liabilities 65.4 68.9 70.7 70.5
27 Total liabilities 2,460.5 2,470.5 2,477.0 2,481.4
28 Residual (assets less
liabilities) (7) 109.5 119.4 127.1 128.9
Not seasonally adjusted
Assets
29 Bank credit 2,260.8 2,272.6 2,269.9 2,274.4
30 Securities in bank
credit 618.3 622.1 623.4 627.0
31 U.S. government
securities 397.8 401.3 405.7 413.6
32 Other securities 220.4 220.8 217.7 213.4
33 Loans and leases in
bank credit (2) 1,642.6 1,650.6 1,646.5 1,647.4
34 Commercial and
industrial 303.8 302.3 303.6 303.7
35 Real estate 911.5 917.5 921.1 923.6
36 Revolving home
equity 58.4 59.3 60.5 61.6
37 Other 853.2 858.3 860.7 862.0
38 Consumer 318.6 325.5 316.5 314.3
39 Credit cards and
related plans 152.1 157.5 148.5 147.1
40 Other 166.5 168.0 168.0 167.1
41 Security (3) 8.3 7.8 8.1 8.2
42 Other loans and
leases 100.2 97.5 97.2 97.6
43 Interbank loans 108.1 97.6 104.0 106.1
44 Cash assets (4) 117.6 116.1 112.3 109.0
45 Other assets (5) 135.3 137.6 144.6 147.4
46 Total assets (6) 2,591.0 2,593.1 2,600.5 2,606.5
Liabilities
47 Deposits 2,017.8 2,008.1 2,011.3 2,025.2
48 Transaction 316.5 313.0 304.8 306.3
49 Nontransaction 1,701.3 1,695.0 1,706.4 1,718.9
50 Large time 305.3 302.8 302.9 303.0
51 Other 1,396.0 1,392.3 1,403.5 1,415.9
52 Borrowings 387.9 394.9 388.1 381.3
53 From banks in the
U.S. 172.4 177.5 175.2 170.0
54 From others 215.5 217.4 212.9 211.3
55 Net due to related
foreign offices 10.0 8.9 10.9 9.0
56 Other liabilities 65.4 68.9 70.7 70.5
57 Total liabilities 2,481.1 2,480.8 2,481.0 2,486.0
58 Residual (assets less
liabilities) (7) 109.8 112.3 119.5 120.5
Wednesday figures
2002
Account Mar. 6 Mar. 13 Mar. 20 Mar. 27
Seasonally adjusted
Assets
1 Bank credit 2,280.6 2,277.4 2,280.6 2,279.4
2 Securities in bank
credit 626.1 625.7 625.5 622.9
3 U.S. government
securities 410.5 411.1 412.5 410.6
4 Other securities 215.6 214.6 213.0 212.4
5 Loans and leases in
bank credit (2) 1,654.5 1,651.7 1,655.1 1,656.5
6 Commercial and
industrial 305.3 304.5 303.4 303.4
7 Real estate 926.0 925.9 927.2 927.1
8 Revolving home
equity 61.6 61.6 62.0 62.8
9 Other 864.4 864.3 865.2 864.3
10 Consumer 316.4 314.2 317.8 319.0
11 Security (3) 7.9 7.9 7.9 8.1
12 Other loans and
leases 98.9 99.1 98.7 98.9
13 Interbank loans 99.5 101.7 103.5 104.8
14 Cash assets (4) 112.9 111.5 113.6 114.2
15 Other assets (5) 146.7 147.9 145.8 143.8
16 Total assets (6) 2,609.2 2,608.1 2,613.0 2,611.9
Liabilities
17 Deposits 2,020.9 2,020.5 2,018.7 2,022.1
18 Transaction 298.7 300.3 312.3 326.3
19 Nontransaction 1,722.2 1,720.1 1,706.4 1,695.7
20 Large time 303.3 303.3 302.3 302.8
21 Other 1,418.9 1,416.9 1,404.1 1,393.0
22 Borrowings 380.0 379.2 383.7 383.5
23 From banks in the
U.S. 171.5 169.7 172.1 169.7
24 From others 208.4 209.6 211.6 213.8
25 Net due to related
foreign offices 9.6 7.9 10.2 8.9
26 Other liabilities 70.6 70.9 71.0 70.3
27 Total liabilities 2,481.0 2,478.6 2,483.5 2,484.7
28 Residual (assets less
liabilities) (7) 128.2 129.5 129.5 127.2
Not seasonally adjusted
Assets
29 Bank credit 2,276.0 2,273.2 2,274.9 2,274.5
30 Securities in bank
credit 627.5 628.2 627.6 625.9
31 U.S. government
securities 411.9 413.7 414.6 413.6
32 Other securities 215.6 214.6 213.0 212.4
33 Loans and leases in
bank credit (2) 1,648.5 1,644.9 1,647.3 1,648.6
34 Commercial and
industrial 304.3 303.6 303.4 303.6
35 Real estate 923.4 923.4 923.5 924.2
36 Revolving home
equity 61.3 61.2 61.4 62.1
37 Other 862.1 862.2 862.1 862.1
38 Consumer 314.0 311.8 315.2 315.7
39 Credit cards and
related plans 147.1 144.4 147.9 148.6
40 Other 166.9 167.4 167.4 167.1
41 Security (3) 8.4 8.2 8.1 8.1
42 Other loans and
leases 98.4 97.9 97.1 97.0
43 Interbank loans 108.6 106.9 105.1 104.1
44 Cash assets (4) 110.9 107.9 107.8 108.8
45 Other assets (5) 146.7 147.9 145.8 143.8
46 Total assets (6) 2,611.8 2,605.6 2,603.1 2,600.7
Liabilities
47 Deposits 2,031.3 2,025.3 2,016.2 2,018.7
48 Transaction 299.8 298.9 307.0 321.2
49 Nontransaction 1,731.5 1,726.4 1,709.3 1,697.5
50 Large time 303.3 303.3 302.3 302.8
51 Other 1,428.2 1,423.1 1,407.0 1,394.7
52 Borrowings 380.0 379.2 383.7 383.5
53 From banks in the
U.S. 171.5 169.7 172.1 169.7
54 From others 208.4 209.6 211.6 213.8
55 Net due to related
foreign offices 9.6 7.9 10.2 8.9
56 Other liabilities 70.6 70.9 71.0 70.3
57 Total liabilities 2,491.4 2,483.4 2,481.0 2,481.4
58 Residual (assets less
liabilities) (7) 120.4 122.2 122.0 119.4
E. Foreign-related institutions
Billions of dollars
Monthly averages
2001 2001
Account Mar. (r) Sept. (r) Oct. (r) Nov. (r)
Seasonally adjusted
Assets
1 Bank credit 621.5 595.5 591.2 597.9
2 Securities in bank
credit 211.3 226.0 229.8 235.5
3 U.S. government
securities 66.4 43.5 56.9 60.0
4 Other securities 144.9 182.5 172.9 175.5
5 Loans and leases in
bank credit (2) 410.2 369.5 361.5 362.5
6 Commercial and
industrial 216.7 200.7 196.6 196.1
7 Real estate 17.9 18.7 18.7 18.9
8 Security (3) 107.1 80.0 75.4 77.0
9 Other loans and
leases 68.6 70.1 70.8 70.4
10 Interbank loans 29.3 25.8 23.8 25.0
11 Cash assets (4) 39.3 43.6 39.0 38.1
12 Other assets (5) 36.3 33.6 32.4 34.1
13 Total assets (6) 726.1 698.2 686.1 694.8
Liabilities
14 Deposits 388.1 410.8 423.4 433.6
15 Transaction 9.7 12.5 10.9 10.9
16 Nontransaction 378.5 398.3 412.5 422.7
17 Borrowings 239.3 220.2 208.3 213.1
18 From banks in the
U.S. 26.1 30.6 24.0 24.4
19 From others 213.2 189.6 184.3 188.7
20 Net due to related
foreign offices 2.5 -16.4 -15.3 -29.1
21 Other liabilities 85.5 81.6 75.8 77.8
22 Total liabilities 715.4 696.3 692.1 695.4
23 Residual (assets less
liabilities) (7) 10.7 1.9 -6.0 -.6
Not seasonally adjusted
Assets
24 Bank credit 620.7 592.6 591.3 600.6
25 Securities in bank
credit 211.3 226.0 229.8 235.5
26 U.S. government
securities 66.4 43.5 56.9 60.0
27 Trading account 9.7 12.0 14.4 13.5
28 Investment
account 56.6 31.5 42.5 46.5
29 Other securities 144.9 182.5 172.9 175.5
30 Trading account 98.8 108.1 107.0 107.5
31 Investment
account 46.1 74.4 65.9 67.9
32 Loans and leases in
bank credit (2) 409.4 366.6 361.5 365.1
33 Commercial and
industrial 218.2 200.6 197.3 197.7
34 Real estate 17.9 18.7 18.7 18.9
35 Security (3) 104.0 77.6 75.5 78.0
36 Other loans and
leases 69.4 69.7 70.0 70.5
37 Interbank loans 29.3 25.8 23.8 25.0
38 Cash assets (4) 38.3 43.6 39.8 40.4
39 Other assets (5) 37.4 34.3 31.9 33.9
40 Total assets (6) 725.3 695.9 686.4 699.5
Liabilities
41 Deposits 389.8 400.9 416.7 437.1
42 Transaction 9.5 12.7 11.0 11.1
43 Nontransaction 380.3 388.2 405.7 426.1
44 Borrowings 239.3 220.2 208.3 213.1
45 From banks in the
U.S. 26.1 30.6 24.0 24.4
46 From others 213.2 189.6 184.3 188.7
47 Net due to related
foreign offices 5.6 -15.2 -16.8 -30.5
48 Other liabilities 86.9 82.2 75.2 77.3
49 Total liabilities 721.6 688.1 683.4 697.0
50 Residual (assets less
liabilities) (7) 3.7 7.8 3.0 2.5
Monthly averages
2001 2002
Account Dec. (r) Jan. (r) Feb. (r) Mar.
Seasonally adjusted
Assets
1 Bank credit 594.3 588.5 588.5 590.2
2 Securities in bank
credit 237.1 234.1 231.0 226.1
3 U.S. government
securities 57.8 54.0 49.5 50.9
4 Other securities 179.3 180.0 181.6 175.2
5 Loans and leases in
bank credit (2) 357.2 354.4 357.5 364.1
6 Commercial and
industrial 194.7 193.2 197.5 201.5
7 Real estate 19.0 18.9 18.6 18.8
8 Security (3) 74.2 73.8 71.3 73.5
9 Other loans and
leases 69.3 68.4 70.1 70.3
10 Interbank loans 20.5 25.3 20.0 21.1
11 Cash assets (4) 39.0 39.4 39.6 40.0
12 Other assets (5) 30.5 31.3 30.0 26.8
13 Total assets (6) 683.9 684.1 677.7 677.7
Liabilities
14 Deposits 444.7 465.9 471.0 481.5
15 Transaction 11.2 11.2 10.6 10.4
16 Nontransaction 433.5 454.8 460.5 471.1
17 Borrowings 203.0 187.8 189.9 185.4
18 From banks in the
U.S. 24.8 22.2 22.9 21.6
19 From others 178.2 165.6 166.9 163.8
20 Net due to related
foreign offices -47.2 -57.5 -66.5 -66.9
21 Other liabilities 75.5 75.6 74.4 65.3
22 Total liabilities 676.0 671.8 668.7 665.3
23 Residual (assets less
liabilities) (7) 7.9 12.3 9.0 12.4
Not seasonally adjusted
Assets
24 Bank credit 601.9 594.1 592.4 590.3
25 Securities in bank
credit 237.1 234.1 231.0 226.1
26 U.S. government
securities 57.8 54.0 49.5 50.9
27 Trading account 12.5 11.7 11.1 10.5
28 Investment
account 45.3 42.4 38.4 40.4
29 Other securities 179.3 180.0 181.6 175.2
30 Trading account 107.5 103.8 101.3 95.0
31 Investment
account 71.8 76.2 80.2 80.2
32 Loans and leases in
bank credit (2) 364.7 360.0 361.4 364.2
33 Commercial and
industrial 196.4 194.0 199.0 202.9
34 Real estate 19.0 18.9 18.6 18.8
35 Security (3) 78.2 77.9 73.6 71.4
36 Other loans and
leases 71.1 69.2 70.2 71.1
37 Interbank loans 20.5 25.3 20.0 21.1
38 Cash assets (4) 41.4 41.5 40.4 39.0
39 Other assets (5) 31.3 32.2 30.6 27.6
40 Total assets (6) 694.6 692.6 683.0 677.6
Liabilities
41 Deposits 457.1 476.6 476.5 483.7
42 Transaction 12.0 11.4 10.7 10.3
43 Nontransaction 445.1 465.1 465.7 473.4
44 Borrowings 203.0 187.8 189.9 185.4
45 From banks in the
U.S. 24.8 22.2 22.9 21.6
46 From others 178.2 165.6 166.9 163.8
47 Net due to related
foreign offices -44.5 -54.4 -63.8 -63.8
48 Other liabilities 76.7 76.9 75.5 66.4
49 Total liabilities 692.2 686.9 678.0 671.6
50 Residual (assets less
liabilities) (7) 2.4 5.7 5.0 6.0
Wednesday figures
2002
Account Mar. 6 Mar. 13 Mar. 20 Mar. 27
Seasonally adjusted
Assets
1 Bank credit 587.7 588.3 587.9 596.4
2 Securities in bank
credit 229.0 227.2 224.3 224.6
3 U.S. government
securities 51.3 51.0 50.3 50.7
4 Other securities 177.7 176.2 173.9 173.9
5 Loans and leases in
bank credit (2) 358.7 361.1 363.6 371.8
6 Commercial and
industrial 197.8 199.4 204.6 204.0
7 Real estate 18.5 18.3 19.0 19.2
8 Security (3) 72.3 74.0 69.7 77.7
9 Other loans and
leases 70.1 69.4 70.3 70.9
10 Interbank loans 25.9 18.6 18.2 22.0
11 Cash assets (4) 39.8 39.0 41.4 39.8
12 Other assets (5) 26.9 26.7 27.0 26.3
13 Total assets (6) 679.9 672.2 674.1 684.1
Liabilities
14 Deposits 467.6 475.5 478.7 494.2
15 Transaction 10.7 10.0 10.1 11.2
16 Nontransaction 457.0 465.5 468.6 483.0
17 Borrowings 197.1 183.2 182.9 181.0
18 From banks in the
U.S. 24.2 19.9 20.8 21.3
19 From others 172.9 163.4 162.1 159.7
20 Net due to related
foreign offices -58.0 -61.5 -63.2 -77.0
21 Other liabilities 67.3 65.9 64.0 64.0
22 Total liabilities 674.0 663.1 662.5 662.3
23 Residual (assets less
liabilities) (7) 5.9 9.0 11.6 21.8
Not seasonally adjusted
Assets
24 Bank credit 589.8 588.8 589.0 595.4
25 Securities in bank
credit 229.0 227.2 224.3 224.6
26 U.S. government
securities 51.3 51.0 50.3 50.7
27 Trading account 11.3 10.4 10.3 10.4
28 Investment
account 40.0 40.6 40.1 40.2
29 Other securities 177.7 176.2 173.9 173.9
30 Trading account 97.9 95.6 94.3 93.6
31 Investment
account 79.7 80.6 79.6 80.3
32 Loans and leases in
bank credit (2) 360.8 361.6 364.7 370.8
33 Commercial and
industrial 199.4 200.4 206.6 205.2
34 Real estate 18.5 18.3 19.0 19.2
35 Security (3) 71.9 73.0 67.9 74.4
36 Other loans and
leases 71.1 69.9 71.2 72.0
37 Interbank loans 25.9 18.6 18.2 22.0
38 Cash assets (4) 39.3 37.9 40.1 38.7
39 Other assets (5) 28.1 28.1 27.6 26.6
40 Total assets (6) 682.7 673.1 674.5 682.4
Liabilities
41 Deposits 468.0 475.9 479.3 500.5
42 Transaction 10.5 9.8 9.9 11.1
43 Nontransaction 457.6 466.1 469.4 489.4
44 Borrowings 197.1 183.2 182.9 181.0
45 From banks in the
U.S. 24.2 19.9 20.8 21.3
46 From others 172.9 163.4 162.1 159.7
47 Net due to related
foreign offices -56.4 -59.3 -59.0 -70.9
48 Other liabilities 67.9 66.7 65.5 66.2
49 Total liabilities 676.6 666.5 668.8 676.8
50 Residual (assets less
liabilities) (7) 6.2 6.5 5.7 5.5
F. Memo items
Billions of dollars
Monthly averages
2001 2001
Account Mar. (r) Sept. (r) Oct. (r) Nov. (r)
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 80.8 98.1 100.8 104.3
2 Revaluation losses on
off-balance-
sheet items (8) 79.8 84.9 86.0 86.5
3 Mortgage-backed
securities (9) 242.0 275.7 299.6 298.8
4 Pass-through 176.7 212.4 230.9 213.7
5 CMO, REMIC, and
other 65.3 63.3 68.7 85.1
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 3.6 7.1 9.2 9.7
7 Off-shore credit to
U.S. residents (11) 22.6 20.3 20.0 19.2
8 Securitized consumer
loans (12) 79.9 97.1 97.8 99.3
9 Credit cards and
related plans 70.4 87.2 87.8 88.3
10 Other 9.5 10.0 9.9 11.0
11 Securitized business
loans (12) 12.7 20.0 21.1 20.6
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 216.8 251.3 261.4 268.9
13 Securitized consumer
loans (12) 235.1 240.1 243.7 246.5
14 Credit cards and
related plans 227.1 232.4 236.3 238.7
15 Other 8.1 7.7 7.5 7.8
Foreign-related
institutions
16 Revaluation gains on
off-balance-
sheet items (8) 56.0 54.8 56.8 55.5
17 Revaluation losses on
off-balance-
sheet items (8) 54.2 50.5 49.1 48.7
18 Securitized business
loans (12) 34.8 26.6 27.1 26.4
Monthly averages
2001 2002
Account Dec. (r) Jan. (r) Feb. (r) Mar.
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 80.6 86.3 81.7 73.2
2 Revaluation losses on
off-balance-
sheet items (8) 68.4 66.5 59.4 52.5
3 Mortgage-backed
securities (9) 320.3 318.0 301.1 301.9
4 Pass-through 217.9 219.3 205.4 205.3
5 CMO, REMIC, and
other 102.4 98.7 95.7 96.6
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 4.6 2.9 4.4 4.3
7 Off-shore credit to
U.S. residents (11) 19.1 19.4 19.7 19.6
8 Securitized consumer
loans (12) 99.4 94.7 92.8 94.2
9 Credit cards and
related plans 88.7 84.3 82.6 82.4
10 Other 10.7 10.4 10.3 11.9
11 Securitized business
loans (12) 19.7 19.4 19.4 17.7
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 280.9 281.5 283.9 286.5
13 Securitized consumer
loans (12) 251.9 259.3 253.8 251.0
14 Credit cards and
related plans 244.3 251.9 246.6 243.9
15 Other 7.6 7.4 7.2 7.1
Foreign-related
institutions
16 Revaluation gains on
off-balance-
sheet items (8) 55.1 52.3 52.8 47.0
17 Revaluation losses on
off-balance-
sheet items (8) 49.3 49.3 49.2 41.7
18 Securitized business
loans (12) 25.2 25.5 25.1 24.1
Wednesday figures
2002
Account Mar. 6 Mar. 13 Mar. 20 Mar. 27
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 81.7 74.5 73.0 68.6
2 Revaluation losses on
off-balance-
sheet items (8) 57.8 53.5 51.3 49.1
3 Mortgage-backed
securities (9) 300.5 298.5 306.4 301.3
4 Pass-through 203.5 201.2 210.3 205.6
5 CMO, REMIC, and
other 97.0 97.3 96.1 95.8
6 Net unrealized gains
(losses) on
available-for-sale
securities (10) 5.5 5.1 4.5 4.4
7 Off-shore credit to
U.S. residents (11) 19.8 19.7 19.8 19.3
8 Securitized consumer
loans (12) 93.8 95.1 94.4 93.4
9 Credit cards and
related plans 81.8 83.1 82.6 81.6
10 Other 12.0 11.9 11.8 11.8
11 Securitized business
loans (12) 18.9 18.6 17.3 16.9
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities (9) 286.3 287.3 286.9 285.6
13 Securitized consumer
loans (12) 252.4 252.3 248.4 250.2
14 Credit cards and
related plans 245.2 245.1 241.3 243.1
15 Other 7.2 7.1 7.1 7.0
Foreign-related
institutions
16 Revaluation gains on
off-balance-
sheet items (8) 49.5 47.9 45.9 45.9
17 Revaluation losses on
off-balance-
sheet items (8) 43.8 42.3 41.0 40.8
18 Securitized business
loans (12) 24.7 24.3 24.1 23.8
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 quantities of balance
sheet items acquired in mergers are removed from past data for the bank
group that contained the acquired bank and put into past data for the
group containing the acquiring bank. Balance sheet data for acquired
banks are obtained from Call Reports, and a ratio procedure is used
to adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans made
to commercial banks in the United States, all of which are included in
"Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection, balances
due from depository institutions, and balances due from Federal
Reserve Banks.
(5.) Excludes the due-from position with related foreign offices, which
is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and leases,
and reserves for transfer risk. Loans are reported gross of these
items.
(7.) This balancing item is not intended as a measure of equity capital
for use in capital adequacy analysis. On a seasonally adjusted basis,
this item reflects any differences in the seasonal patterns estimated
for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private entities.
(10.) Difference between fair value and historical cost for securities
classified as available-for-sale under FASB Statement No. 115. Data
are reported net of tax effects. Data shown are restated to include
an estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item 1997 1998 1999 2000
1 All issuers 966,699 1,163,303 1,403,023 1,615,341
Financial
companies (1)
2 Dealer-placed paper,
total (2) 513,307 614,142 786,643 973,060
3 Directly placed
paper, total (3) 252,536 322,030 337,240 298,848
4 Nonfinancial
companies (4) 200,857 227,132 279,140 343,433
Year
ending
December 2001
Item 2001 Sept. Oct. Nov.
1 All issuers 1,438,764 1,423,004 1,436,254 1,435,808
Financial
companies (1)
2 Dealer-placed paper,
total (2) 989,364 950,346 984,996 993,491
3 Directly placed
paper, total (3) 224,553 255,122 232,407 227,422
4 Nonfinancial
companies (4) 224,847 217,537 218,851 214,894
2001 2002
Item Dec. Jan. Feb.
1 All issuers 1,438,764 1,428,494 1,402,875
Financial
companies (1)
2 Dealer-placed paper,
total (2) 989,364 984,251 984,441
3 Directly placed
paper, total (3) 224,553 224,595 218,266
4 Nonfinancial
companies (4) 224,847 219,648 200,168
(1.) Institutions engaged primarily in commercial, savings, and
mortgage banking; sales, personal and mortgage financing; factoring,
finance leasing, and other business lending; insurance underwriting;
and other investment activities.
(2.) Includes all financial-company paper sold by dealers in the open
market.
(3.) As reported by financial companies that place their paper
directly with investors.
(4.) Includes public utilities and firms engaged primarily in such
activities as communications, construction, manufacturing, mining,
wholesale and retail trade, transportation, and services.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent per year
Date of change Rate
1999--Jan. 1 7.75
July 1 8.00
Aug. 25 8.25
Nov. 17 8.50
2000--Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Aug. 22 6.50
Sept. 18 6.00
Oct. 3 5.50
Nov. 7 5.00
Dec. 12 4.75
Average
Period rate
1999 8.00
2000 9.23
2001 6.91
1999--Jan. 7.75
Feb. 7.75
Mar. 7.75
Apr. 7.75
May 7.75
June 7.75
July 8.00
Aug. 8.06
Sept. 8.25
Oct. 8.25
Nov. 8.37
Dec. 8.50
Average
Period rate
2000--Jan. 8.50
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
Nov. 9.50
Dec. 9.50
Average
Period rate
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
Sept. 6.28
Oct. 5.53
Nov. 5.10
Dec. 4.84
2002--Jan. 4.75
Feb. 4.75
Mar. 4.75
Apr. 4.75
(1) The prime rate is one of several base rates that banks use to price
short-term business loans. The table shows the date on which a new rate
came to be the predominant one quoted by a majority of the twenty-five
largest banks by asset size, based on the most recent Call Report.
Data in this table also appear in the Board's H.15 (519) weekly and
G.13 (415) monthly statistical releases. For ordering address, see
inside front cover.
Financial Markets
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of business day data unless
otherwise noted
2001 2002
Item 1999 2000 2001 Dec. Jan. Feb. Mar.
MONEY MARKET
INSTRUMENTS
1 Federal funds
(1),(2),(3) 4.97 6.24 3.88 1.82 1.73 1.74 1.73
2 Discount window
borrowing (2),(4) 4.62 5.73 3.40 1.33 1.25 1.25 1.25
Commercial paper
(3),(5),(6)
Nonfinancial
3 1-month 5.09 6.27 3.78 1.84 1.70 1.76 1.78
4 2-month 5.14 6.29 3.68 1.79 1.69 1.76 1.82
5 3-month 5.18 6.31 3.65 1.78 1.70 1.79 1.86
Financial
6 1-month 5.11 6.28 3.80 1.83 1.72 1.77 1.80
7 2-month 5.16 6.30 3.71 1.81 1.71 1.78 1.82
8 3-month 5.22 6.33 3.65 1.81 1.72 1.80 1.87
Certificates of
deposit,
secondary
market
(3),(7)
9 1-month 5.19 6.35 3.84 1.90 1.75 1.81 1.84
10 3-month 5.33 6.46 3.71 1.83 1.74 1.82 1.91
11 6-month 5.46 6.59 3.66 1.90 1.85 1.95 2.16
12 Eurodollar
deposits, 3-month
(3),(8) 5.31 6.45 3.70 1.84 1.75 1.82 1.91
U.S. Treasury bills
Secondary market
(3),(5)
13 3-month 4.64 5.82 3.40 1.69 1.65 1.73 1.79
14 6-month 4.75 5.90 3.34 1.78 1.73 1.82 2.01
15 1-year 4.81 5.78 3.84 n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES
AND BONDS
Constant
maturities (9)
16 1-year 5.08 6.11 3.49 2.22 2.16 2.23 2.57
17 2-year 5.43 6.26 3.83 3.11 3.03 3.02 3.56
18 3-year 5.49 6.22 4.09 3.62 3.56 3.55 4.14
19 5-year 5.55 6.16 4.56 4.39 4.34 4.30 4.74
20 7-year 5.79 6.20 4.88 4.86 4.79 4.71 5.14
21 10-year 5.65 6.03 5.02 5.09 5.04 4.91 5.28
22 20-year 6.20 6.23 5.63 5.76 5.69 5.61 5.93
23 30-year 5.87 5.94 5.49 5.48 5.45 5.40 n.a.
STATE AND LOCAL
NOTES AND BONDS
Moody's series (10)
24 Aaa 5.28 5.58 4.99 5.18 5.05 4.93 5.09
25 Baa 5.70 6.19 5.75 5.81 5.64 5.71 5.92
26 Bond Buyer series
(11) 5.43 5.71 5.15 5.25 5.16 5.11 5.29
CORPORATE BONDS
27 Seasoned issues,
all industries
(12) 7.45 7.98 7.49 7.43 7.24 7.18 7.44
Rating group
28 Aaa (13) 7.05 7.62 7.08 6.77 6.55 6.51 6.81
29 Aa 7.36 7.83 7.26 7.19 7.03 6.95 7.22
30 A 7.53 8.11 7.67 7.70 7.50 7.37 7.62
31 Baa 7.88 8.37 7.95 8.05 7.87 7.89 8.11
MEMO
Dividend-price
ratio (14)
32 Common stocks 1.25 1.15 1.32 1.36 1.38 1.43 1.37
2002, week ending
Item Mar. 1 Mar. 8 Mar. 15 Mar. 22 Mar. 29
MONEY MARKET
INSTRUMENTS
1 Federal funds
(1),(2),(3) 1.75 1.74 1.71 1.76 1.70
2 Discount window
borrowing (2),(4) 1.25 1.25 1.25 1.25 1.25
Commercial paper
(3),(5),(6)
Nonfinancial
3 1-month 1.75 1.78 1.78 1.78 1.79
4 2-month 1.77 1.80 1.83 1.83 1.84
5 3-month 1.78 1.80 1.87 1.88 1.91
Financial
6 1-month 1.77 1.79 1.81 1.80 1.79
7 2-month 1.79 1.80 1.83 1.83 1.82
8 3-month 1.80 1.84 1.88 1.89 1.90
Certificates of
deposit,
secondary
market
(3),(7)
9 1-month 1.82 1.83 1.85 1.85 1.85
10 3-month 1.83 1.86 1.92 1.94 1.97
11 6-month 1.96 2.03 2.16 2.22 2.29
12 Eurodollar
deposits, 3-month
(3),(8) 1.81 1.85 1.92 1.93 1.96
U.S. Treasury bills
Secondary market
(3),(5)
13 3-month 1.74 1.76 1.81 1.82 1.79
14 6-month 1.85 1.91 2.01 2.07 2.07
15 1-year n.a. n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES
AND BONDS
Constant
maturities (9)
16 1-year 2.28 2.41 2.58 2.66 2.70
17 2-year 3.08 3.34 3.58 3.70 3.71
18 3-year 3.61 3.89 4.16 4.32 4.31
19 5-year 4.30 4.55 4.77 4.84 4.88
20 7-year 4.73 4.97 5.18 5.23 5.26
21 10-year 4.90 5.13 5.34 5.37 5.38
22 20-year 5.61 5.80 5.98 6.00 6.00
23 30-year n.a. n.a. n.a. n.a. n.a.
STATE AND LOCAL
NOTES AND BONDS
Moody's series (10)
24 Aaa 4.91 4.99 5.06 5.15 5.16
25 Baa 5.69 5.80 5.90 5.98 6.00
26 Bond Buyer series
(11) 5.07 5.19 5.30 5.34 5.32
CORPORATE BONDS
27 Seasoned issues,
all industries
(12) 7.18 7.33 7.48 7.50 7.49
Rating group
28 Aaa (13) 6.53 6.69 6.85 6.88 6.87
29 Aa 6.96 7.12 7.26 7.28 7.26
30 A 7.35 7.51 7.67 7.67 7.66
31 Baa 7.88 8.00 8.13 8.17 8.16
MEMO
Dividend-price
ratio (14)
32 Common stocks 1.42 1.36 1.37 1.37 1.38
NOTE. Some of the data in this table also appear in the Board's H.15
(519) weekly statistical release. For ordering address, see inside
front cover.
(1.) The daily effective federal funds rate is a weighted average of
rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days, ending on
Wednesday of the current week; monthly figures include each calendar
day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) Rate for the Federal Reserve Bank of New York.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial paper
trades settled by the Depository Trust Company. The trades represent
sales of commercial paper by dealers or direct issuers to investors
(that is, the offer side). See the Board's Commercial Paper web pages
(http://www.federalreserve.gov/releases/cp) for more information.
(7.) An average of 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.
SOURCE: U.S. Department of the Treasury.
(10.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(11.) State and local government general obligation bonds maturing in
twenty years are used in compiling this index. The twenty-bond index
has a rating roughly equivalent to Moodys' A1 rating. Based on
Thursday figures.
(12.) 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.
(13.) 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.
(14.) Standard & Poor's corporate series. Common stock ratio is
based on the 500 stocks in the price index.
1.36 STOCK MARKET Selected Statistics
2001
Indicator 1999 2000 2001 July
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 619.52 643.71 606.03 613.36
2 Industrial 775.29 809.40 749.46 756.04
3 Transportation 491.62 414.73 444.45 469.80
4 Utility 284.82 478.99 377.72 374.11
5 Finance 530.97 552.48 596.61 614.54
6 Standard & Poor's
Corporation (1941
-43 = 10) (1) 1,327.33 1,427.22 1,194.18 1,204.45
7 American Stock
Exchange (Aug.
31, 1973 = 50)
(2) 770.90 922.22 879.08 892.74
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 799,554 1,026,867 1,216,529 1,120,074
9 American Stock
Exchange 32,629 51,437 68,074 56,735
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker--dealers
(3) 228,530 198,790 150,450 165,250
Free credit
balances at
brokers (4)
11 Margin accounts (5) 55,130 100,680 101,640 97,950
12 Cash accounts 79,070 84,400 78,040 73,490
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
2001
Indicator Aug. Sept. Oct. Nov.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 604.52 544.39 556.04 575.31
2 Industrial 748.65 672.89 688.35 715.98
3 Transportation 458.35 382.68 371.56 410.05
4 Utility 357.76 339.72 341.51 330.78
5 Finance 605.59 538.01 553.16 577.85
6 Standard & Poor's
Corporation (1941
-43 = 10) (1) 1,178.51 1,044.64 1,076.59 1,129.68
7 American Stock
Exchange (Aug.
31, 1973 = 50)
(2) 883.01 823.78 825.91 814.78
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,012,907 1,666,980 1,293,019 1,242,965
9 American Stock
Exchange 48,304 72,319 66,765 88,694
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker--dealers
(3) 161,130 144,670 144,010 148,650
Free credit
balances at
brokers (4)
11 Margin accounts (5) 103,990 115,450 101,850 98,330
12 Cash accounts 73,710 74,220 69,550 72,090
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
2001 2002
Indicator Dec. Jan. Feb. Mar.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 582.82 581.74 569.55 600.74
2 Industrial 727.67 723.56 715.80 751.79
3 Transportation 433.70 446.13 453.51 490.51
4 Utility 325.33 322.92 301.32 316.25
5 Finance 585.47 591.94 570.18 609.72
6 Standard & Poor's
Corporation (1941
-43 = 10) (1) 1,144.93 1,140.21 1,100.67 1,153.79
7 American Stock
Exchange (Aug.
31, 1973 = 50)
(2) 828.19 835.02 845.81 891.08
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,240,245 1,401,913 1,362,830 1,321,351
9 American Stock
Exchange 53,337 55,151 55,657 56,375
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker--dealers
(3) 150,450 150,390 147,030 149,370
Free credit
balances at
brokers (4)
11 Margin accounts (5) 101,640 97,330 99,350 93,700
12 Cash accounts 78,040 75,110 72,730 69,790
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
1.38 FEDERAL FISCAL AND FINANCING OPERATIONS
Millions of dollars
Fiscal year
Type of account
or operation 1999 2000 2001
U.S. budget (1)
1 Receipts, total 1,827,454 2,025,218 1,991,030
2 On-budget 1,382,986 1,544,634 1,483,511
3 Off-budget 444,468 480,584 507,519
4 Outlays, total 1,701,932 1,788,826 1,863,926
5 On-budget 1,381,154 1,458,061 1,516,933
6 Off-budget 320,778 330,765 346,993
7 Surplus or deficit (-),
total 125,522 236,392 127,104
8 On-budget 1,832 86,573 -33,422
9 Off-budget 123,690 149,819 160,526
Source of financing (total)
10 Borrowing from the public -88,674 -222,807 -90,118
11 Operating cash (decrease,
or increase [-]) -17,580 3,799 8,440
12 Other (2) -19,268 -17,384 -45,426
MEMO
13 Treasury operating balance
(level, end of period) 56,458 52,659 44,219
14 Federal Reserve Banks 6,641 8,459 9,796
15 Tax and loan accounts 49,817 44,199 34,423
Calendar year
2001
Type of account
or operation Oct. Nov. Dec.
U.S. budget (1)
1 Receipts, total 157,163 121,233 187,914
2 On-budget 122,004 83,375 150,941
3 Off-budget 35,159 37,858 36,973
4 Outlays, total 166,548 175,500 161,347
5 On-budget 134,014 140,388 162,916
6 Off-budget 32,534 35,112 -1,569
7 Surplus or deficit (-),
total -9,385 -54,267 26,567
8 On-budget -12,010 -57,013 -11,975
9 Off-budget 2,625 2,746 38,542
Source of financing (total)
10 Borrowing from the public -3,695 72,036 -8,813
11 Operating cash (decrease,
or increase [-]) 16,612 -2,908 -21,837
12 Other (2) -3,532 -14,861 4,083
MEMO
13 Treasury operating balance
(level, end of period) 27,607 30,515 52,352
14 Federal Reserve Banks 5,112 6,219 6,645
15 Tax and loan accounts 22,495 24,295 45,707
Calendar year
2002
Type of account
or operation Jan. Feb. Mar.
U.S. budget (1)
1 Receipts, total 203,452 97,962 111,220
2 On-budget 153,541 57,087 65,624
3 Off-budget 49,911 40,875 45,596
4 Outlays, total 159,726 174,018 175,458
5 On-budget 127,001 137,713 138,167
6 Off-budget 32,726 36,304 37,290
7 Surplus or deficit (-),
total 43,726 -76,056 -64,238
8 On-budget 26,540 -80,626 -72,543
9 Off-budget 17,185 4,571 8,306
Source of financing (total)
10 Borrowing from the public -15,240 63,882 2,128
11 Operating cash (decrease,
or increase [-]) -23,016 30,729 30,545
12 Other (2) -5,470 -18,555 31,565
MEMO
13 Treasury operating balance
(level, end of period) 75,368 44,639 14,094
14 Federal Reserve Banks 13,688 5,752 5,692
15 Tax and loan accounts 61,680 38,887 8,403
(1.) Since 1990, off-budget items have been the social security trust
funds (Federal Old-Age, Survivors, and Disability Insurance) and the
U.S. Postal Service.
(2.) Includes special drawing rights (SDRs); reserve position on the
U.S. quota in the International Monetary Fund (IMF); loans to the IMF;
other cash and monetary assets; accrued interest payable to the public;
allocations of SDRs; deposit funds; miscellaneous liability (including
checks outstanding) and asset accounts; seigniorage; increment on gold;
net gain or loss for U.S. currency valuation adjustment; net gain or
loss for IMF loan-valuation adjustment; and profit on sale of gold.
SOURCE. Monthly totals; U.S. Department of the Treasury, Monthly
Treasury Statement of Receipts and Outlays of the U.S. Government; and
fiscal year totals: U.S. Office of Management and Budget, Budget of the
U.S. Government when available.
Table 1.38 will no longer be published in the Federal Reserve Bulletin
after this issue (June 2002). For information on where to obtain the
data presented in this table, please see the "Announcements" section,
pp. 290-91.
1.39 U.S. BUDGET RECEIPTS AND OUTLAYS (1)
Millions of dollars
Calendar
Fiscal year year
2000
Source or type 2000 2001 H1
RECEIPTS
1 All sources 2,025,218 1,991,030 1,089,763
2 Individual income taxes, net 1,004,462 994,339 550,208
3 Withheld 780,397 793,386 388,526
4 Nonwithheld 358,049 383,146 281,103
5 Refunds 134,046 182,251 119,477
Corporation income taxes
6 Gross receipts 235,655 186,732 119,166
7 Refunds 28,367 35,657 13,781
8 Social insurance taxes and
contributions, net 652,852 693,967 353,514
9 Employment taxes and
contributions (2) 620,451 661,442 333,584
10 Unemployment insurance 27,640 27,812 17,562
11 Other net receipts (3) 4,761 4,713 2,368
12 Excise taxes 68,865 66,068 33,532
13 Customs deposits 19,914 19,369 9,218
14 Estate and gift taxes 29,010 28,400 15,073
15 Miscellaneous receipts (4) 42,826 37,812 22,831
OUTLAYS
16 All types 1,788,826 1,863,926 892,947
17 National defense 294,494 308,533 143,476
18 International affairs 17,216 16,601 7,250
19 General science, space,
and technology 18,637 19,896 9,601
20 Energy -1,060 89 -893
21 Natural resources and
environment 25,031 26,335 10,814
22 Agriculture 36,641 26,553 11,164
23 Commerce and housing credit 3,211 6,030 -2,497
24 Transportation 46,854 55,220 21,054
25 Community and regional
development 10,629 11,977 5,050
26 Education, training, employment,
and social services 59,201 57,302 31,234
27 Health 154,534 172,634 75,871
28 Social security and Medicare 606,549 650,593 306,966
29 Income security 247,895 269,770 133,915
30 Veterans benefits and services 47,083 45,828 23,174
31 Administration of justice 27,820 30,443 13,981
32 General government 13,454 15,153 6,198
33 Net interest (5) 223,218 206,199 115,545
34 Undistributed offsetting
receipts (6) -42,581 -55,230 -19,346
Calendar year
2000 2001
Source or type H2 H1 H2
RECEIPTS
1 All sources 953,667 1,120,040 875,322
2 Individual income taxes, net 458,679 580,632 420,105
3 Withheld 395,572 402,417 398,365
4 Nonwithheld 77,732 308,418 76,199
5 Refunds 14,628 130,256 54,461
Corporation income taxes
6 Gross receipts 123,962 102,947 90,970
7 Refunds 15,776 20,262 21,945
8 Social insurance taxes and
contributions, net 310,122 379,878 314,678
9 Employment taxes and
contributions (2) 297,665 359,648 302,518
10 Unemployment insurance 10,097 17,842 9,880
11 Other net receipts (3) 2,360 2,387 2,281
12 Excise taxes 35,501 32,490 29,124
13 Customs deposits 10,676 9,370 10,032
14 Estate and gift taxes 13,216 15,471 12,643
15 Miscellaneous receipts (4) 17,286 19,517 19,595
OUTLAYS
16 All types 895,630 948,750 954,307
17 National defense 147,651 153,154 160,877
18 International affairs 11,902 6,522 9,072
19 General science, space,
and technology 10,389 10,073 10,868
20 Energy 130 -244 494
21 Natural resources and
environment 12,907 11,059 13,310
22 Agriculture 20,977 10,832 19,954
23 Commerce and housing credit 4,408 -1,539 6,941
24 Transportation 25,841 23,810 33,006
25 Community and regional
development 5,962 5,265 8,450
26 Education, training, employment,
and social services 29,263 35,698 28,290
27 Health 81,413 87,427 92,411
28 Social security and Medicare 307,473 328,072 331,522
29 Income security 113,212 146,913 124,312
30 Veterans benefits and services 22,615 23,171 24,769
31 Administration of justice 14,635 14,694 16,209
32 General government 6,461 8,887 8,688
33 Net interest (5) 104,685 107,824 89,692
34 Undistributed offsetting
receipts (6) -24,070 -22,865 -24,516
Calendar year
2002
Source or type Jan. Feb. Mar.
RECEIPTS
1 All sources 203,452 97,962 111,220
2 Individual income taxes, net 112,095 35,745 25,022
3 Withheld 64,403 62,002 65,528
4 Nonwithheld 49,132 3,341 6,256
5 Refunds 1,442 29,607 46,778
Corporation income taxes
6 Gross receipts 12,321 2,995 23,444
7 Refunds 3,071 4,935 8,117
8 Social insurance taxes and
contributions, net 66,164 54,617 59,044
9 Employment taxes and
contributions (2) 64,593 52,243 58,335
10 Unemployment insurance 1,223 2,016 271
11 Other net receipts (3) 348 358 438
12 Excise taxes 9,162 3,834 6,063
13 Customs deposits 1,562 1,351 1,219
14 Estate and gift taxes 2,389 1,881 2,074
15 Miscellaneous receipts (4) 2,831 2,473 2,471
OUTLAYS
16 All types 159,723 (r) 174,018 175,458
17 National defense 24,693 27,391 31,545
18 International affairs 4,833 2,036 868
19 General science, space,
and technology 1,523 1,689 1,716
20 Energy -409 -289 391
21 Natural resources and
environment 2,067 1,916 2,288
22 Agriculture 2,727 1,856 2,291
23 Commerce and housing credit 1,411 -1,638 1,044
24 Transportation 4,539 4,387 4,399
25 Community and regional
development 579 948 761
26 Education, training, employment,
and social services 7,398 6,699 5,788
27 Health 16,718 14,699 15,768
28 Social security and Medicare 53,838 56,542 57,291
29 Income security 23,150 38,398 32,868
30 Veterans benefits and services 2,390 4,340 3,544
31 Administration of justice 2,451 2,503 2,977
32 General government 424 2,149 890
33 Net interest (5) 15,095 14,282 14,523
34 Undistributed offsetting
receipts (6) -3,700 -3,891 -3,494
(1.) Functional details do not sum to total outlays for calendar year
data because revisions to monthly totals have not been distributed
among functions. Fiscal year total for receipts and outlays do not
correspond to calendar year data because revisions from the Budget have
not been fully distributed across months.
(2.) Old-age, disability, and hospital insurance and railroad
retirement accounts.
(3.) Federal employee retirement contributions and civil service
retirement and disability fund.
(4.) Deposits of earnings by Federal Reserve Banks and other
miscellaneous receipts.
(5.) Includes interest received by trust funds.
(6.) Rents and royalties for the other continental shelf, U.S.
government contributions for employee retirement, and certain asset
sales.
SOURCE. Fiscal year totals: U.S. Office of Management and Budget,
Budget of the U.S. Government, Fiscal Year 2003; monthly and half-year
totals: U.S. Department of the Treasury, Monthly Treasury Statement of
Receipts and Outlays of the U.S. Government.
Table 1.39 will no longer be published in the Federal Reserve Bulletin
after this issue (June 2002). For information on where to obtain the
data presented in this table, please see the "Announcements" section,
pp. 290-91.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2000
Item Mar. 31 June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 5,801.5 5,714.2 5,701.9 5,689.6
2 Public debt securities 5,773.4 5,685.9 5,674.2 5,662.2
3 Held by public 3,688.0 3,495.7 3,438.5 3,413.5
4 Held by agencies 2,085.4 2,190.2 2,235.7 2,248.7
5 Agency securities 28.1 28.3 27.7 27.4
6 Held by public 27.8 28.2 27.6 27.3
7 Held by agencies .4 .1 .1 .1
8 Debt subject to statutory
limit 5,686.5 5,600.6 5,591.6 5,580.5
9 Public debt securities 5,686.3 5,600.5 5,591.4 5,580.2
10 Other debt (1) .2 .2 .2 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0 5,950.0
2001
Item Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 5,800.6 5,753.9 5,834.5
2 Public debt securities 5,773.7 5,726.8 5,807.5
3 Held by public 3,434.4 3,274.2 3,338.7
4 Held by agencies 2,339.4 2,452.6 2,468.8
5 Agency securities 26.8 27.1 27.0
6 Held by public 26.8 27.1 27.0
7 Held by agencies .1 .0 .0
8 Debt subject to statutory
limit 5,692.5 5,645.0 5,732.6
9 Public debt securities 5,692.3 5,644.8 5,807.5
10 Other debt (1) .2 .2 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2001 2002
Item Dec. 31 Mar. 31
1 Federal debt outstanding 5,970.3 n.a.
2 Public debt securities 5,943.4 6,006.0 (r)
3 Held by public 3,393.8 n.a. (r)
4 Held by agencies 2,549.7 n.a. (r)
5 Agency securities 26.8 n.a. (r)
6 Held by public 26.8 n.a. (r)
7 Held by agencies .0 n.a. (r)
8 Debt subject to statutory
limit 5,871.4 5,935.1 (r)
9 Public debt securities 5,943.4 6,006.0 (r)
10 Other debt (1) .3 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 (r)
(1.) Consists of guaranteed debt of U.S. Treasury and other federal
agencies, specified participation certificates, notes to international
lending organizations, and District of Columbia stadium bonds.
SOURCE. U.S. Department of the Treasury, Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1998 1999 2000 2001
1 Total gross public debt 5,614.2 5,776.1 5,662.2 5,943.4
By type
2 Interest-bearing 5,605.4 5,766.1 5,618.1 5,930.8
3 Marketable 3,355.5 3,281.0 2,966.9 2,982.9
4 Bills 691.0 737.1 646.9 811.3
5 Notes 1,960.7 1,784.5 1,557.3 1,413.9
6 Bonds 621.2 643.7 626.5 602.7
7 Inflation-indexed notes
and bonds (1) 67.6 100.7 121.2 140.1
8 Nonmarketable (2) 2,249.9 2,485.1 2,651.2 2,947.9
9 State and local
government series 165.3 165.7 151.0 146.3
10 Foreign issues (3) 34.3 31.3 27.2 15.4
11 Government 34.3 31.3 27.2 15.4
12 Public .0 .0 .0 .0
13 Savings bonds and notes 180.3 179.4 176.9 181.5
14 Government account
series (4) 1,840.0 2,078.7 2,266.1 2,574.8
15 Non-interest-bearing 8.8 10.0 44.2 12.7
By holder (5)
16 U.S. Treasury and other
federal agencies and trust
funds 1,828.1 2,064.2 2,249.0 2,572.2
17 Federal Reserve Banks (6) 452.1 478.0 511.7 551.7
18 Private investors 3,334.0 3,233.9 2,880.4 2,819.5
19 Depository institutions 237.3 246.5 199.2 182.2
20 Mutual funds 343.3 335.4 312.6 258.5
21 Insurance companies 141.7 123.4 110.2 85.7
22 State and local
treasuries (7) 269.3 266.8 236.2 205.4
Individuals
23 Savings bonds 186.6 186.4 184.8 190.3
24 Pension funds 356.9 349.7 333.4 288.4
25 Private 139.1 138.5 137.7 102.4
26 State and Local 217.7 211.2 195.7 186.0
27 Foreign and
international (8) 1,278.7 1,268.7 1,201.3 1,218.1
28 Other miscellaneous
investors (7),(9) 517.5 444.1 276.9 n.a.
2001 2002
Type and holder Q2 Q3 Q4 Q1
1 Total gross public debt 5,726.8 5,807.5 5,943.4 6,006.0
By type
2 Interest-bearing 5,682.8 5,763.6 5,930.8 5,962.2
3 Marketable 2,822.3 2,897.3 2,982.9 3,003.3
4 Bills 620.1 734.9 811.3 834.4
5 Notes 1,441.0 1,399.6 1,413.9 1,411.7
6 Bonds 616.9 612.9 602.7 596.7
7 Inflation-indexed notes
and bonds (1) 129.3 134.9 140.1 145.6
8 Nonmarketable (2) 2,860.5 2,866.4 2,947.9 2,958.9
9 State and local
government series 153.3 146.4 146.3 141.1
10 Foreign issues (3) 24.0 18.3 15.4 14.6
11 Government 24.0 18.3 15.4 14.6
12 Public .0 .0 .0 .0
13 Savings bonds and notes 178.4 179.6 181.5 183.6
14 Government account
series (4) 2,474.7 2,492.1 2,574.8 2,589.7
15 Non-interest-bearing 44.0 43.8 12.7 43.8
By holder (5)
16 U.S. Treasury and other
federal agencies and trust
funds 2,469.1 2,493.7 2,572.2 n.a.
17 Federal Reserve Banks (6) 535.1 534.1 551.7 575.4
18 Private investors 2,722.6 2,779.7 2,819.5 n.a.
19 Depository institutions 190.1 189.5 182.2 n.a.
20 Mutual funds 219.2 231.6 258.5 n.a.
21 Insurance companies 94.8 88.5 85.7 n.a.
22 State and local
treasuries (7) 224.0 208.9 205.4 n.a.
Individuals
23 Savings bonds 185.5 186.4 190.3 n.a.
24 Pension funds 308.4 287.3 288.4 n.a.
25 Private 104.0 99.6 102.4 n.a.
26 State and Local 204.4 187.7 186.0 n.a.
27 Foreign and
international (8) 1,167.4 1,170.1 1,218.1 n.a.
28 Other miscellaneous
investors (7),(9) 210.5 279.4 n.a. n.a.
(1.) The U.S. Treasury first issued inflation-indexed securities during
the first quarter of 1997.
(2.) Includes (not shown separately) securities issued to the Rural
Electrification Administration, depository bonds, retirement plan
bonds, and individual retirement bonds.
(3.) Nonmarketable series denominated in dollars, and series
denominated in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal agencies
and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies and
trust funds are actual holdings; data for other groups are Treasury
estimates.
(6.) U.S. Treasury securities bought outright by Federal Reserve Banks,
see Bulletin table 1.18.
(7.) In March 1996, in a redefinition of series, fully defeased debt
backed by nonmarketable federal securities was removed from "Other
miscellaneous investors" and added to "State and local treasuries." The
data shown here have been revised accordingly.
(8.) Includes nonmarketable foreign series Treasury securities and
Treasury deposit funds. Excludes Treasury securities held under
repurchase agreements in custody accounts at the Federal Reserve Bank
of New York.
(9.) Includes individuals, government-sponsored enterprises, brokers
and dealers, bank personal trusts and estates, corporate and
noncorporate businesses, and other investors.
SOURCES. Data by type of security, U.S. Treasury Department, Monthly
Statement of the Public Debt of the United States; data by holder,
Federal Reserve Board of Governors, Flow of Funds Accounts of the
United States and U.S. Treasury Department, Treasury Bulletin, unless
otherwise noted.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions (1)
Millions of dollars, daily averages
2001 2002
Item Dec. Jan. Feb.
By type of security
1 U.S. Treasury bills 37,927 37,522 42,233
Treasury coupon securities by
maturity
2 Three years or less 97,643 137,139 122,427
3 More than three but less
than or equal to six years 74,502 80,482 82,210
4 More than six but less than
or equal to eleven years 57,308 72,361 69,912
5 More than eleven 18,470 18,413 15,747
6 Inflation-indexed (2) 1,228 2,153 1,735
Federal agency and government-
sponsored enterprises
7 Discount notes 59,418 56,379 54,029
Coupon securities by
maturity
8 Three years or less 9,412 11,890 10,672
9 More than three years but
less than or equal
to six years 8,016 9,585 10,590
10 More than six years but
less than or equal
to eleven years 7,031 10,687 6,019
11 More than eleven years 1,435 980 1,473
12 Mortgage-backed 113,262 140,307 136,655
Corporate securities
13 One year or less 71,082 75,514 (r) 102,218 (r)
14 More than one year 15,326 20,307 (r) 18,835 (r)
By type of counterparty
With interdealer broker
15 U.S. Treasury 127,310 155,689 156,162
16 Federal agency and
government-sponsored
enterprises 9,762 12,346 10,972
17 Mortgage-backed 29,886 37,059 34,770
18 Corporate 382 568 536
With other
19 U.S. Treasury 159,770 192,381 178,102
20 Federal agency and
government-sponsored
enterprises 75,549 77,175 71,811
21 Mortgage-backed 83,376 103,248 101,885
22 Corporate 86,026 95,252 (r) 120,517 (r)
2002, week ending
Item Jan. 30 Feb. 6 Feb. 13
By type of security
1 U.S. Treasury bills 40,004 37,395 41,228
Treasury coupon securities by
maturity
2 Three years or less 145,437 116,619 108,801
3 More than three but less
than or equal to six years 101,788 91,706 80,396
4 More than six but less than
or equal to eleven years 77,416 80,380 71,579
5 More than eleven 21,583 17,776 15,597
6 Inflation-indexed (2) 977 1,977 1,306
Federal agency and government-
sponsored enterprises
7 Discount notes 54,037 57,942 49,799
Coupon securities by
maturity
8 Three years or less 10,019 11,759 10,542
9 More than three years but
less than or equal
to six years 13,170 7,978 10,972
10 More than six years but
less than or equal
to eleven years 9,957 7,625 5,737
11 More than eleven years 995 1,421 1,049
12 Mortgage-backed 120,841 137,347 172,382
Corporate securities
13 One year or less 78,578 106,206 (r) 101,309
14 More than one year 25,238 17,310 (r) 20,437
By type of counterparty
With interdealer broker
15 U.S. Treasury 171,019 159,212 151,247
16 Federal agency and
government-sponsored
enterprises 12,860 11,346 10,773
17 Mortgage-backed 31,044 31,671 44,779
18 Corporate 607 517 511
With other
19 U.S. Treasury 216,186 186,642 167,660
20 Federal agency and
government-sponsored
enterprises 75,318 75,379 67,326
21 Mortgage-backed 89,797 105,676 127,602
22 Corporate 103,209 122,999 (r) 121,235
2002, week ending
Item Feb. 20 Feb. 27 Mar. 6
By type of security
1 U.S. Treasury bills 42,734 46,041 45,570
Treasury coupon securities by
maturity
2 Three years or less 94,762 154,118 165,986
3 More than three but less
than or equal to six years 70,507 82,332 99,504
4 More than six but less than
or equal to eleven years 63,140 64,496 73,869
5 More than eleven 13,833 15,490 17,318
6 Inflation-indexed (2) 1,798 1,981 1,433
Federal agency and government-
sponsored enterprises
7 Discount notes 58,498 50,547 59,060
Coupon securities by
maturity
8 Three years or less 7,320 11,993 13,773
9 More than three years but
less than or equal
to six years 8,197 14,042 11,442
10 More than six years but
less than or equal
to eleven years 4,893 5,698 7,114
11 More than eleven years 2,755 930 1,384
12 Mortgage-backed 123,213 105,130 166,643
Corporate securities
13 One year or less 106,007 96,351 104,988
14 More than one year 17,147 19,117 22,264
By type of counterparty
With interdealer broker
15 U.S. Treasury 133,799 170,629 185,646
16 Federal agency and
government-sponsored
enterprises 9,698 11,518 12,834
17 Mortgage-backed 31,651 28,067 43,109
18 Corporate 500 592 608
With other
19 U.S. Treasury 152,975 193,829 218,032
20 Federal agency and
government-sponsored
enterprises 71,966 71,692 79,940
21 Mortgage-backed 91,562 77,063 123,534
22 Corporate 122,655 114,876 126,644
2002, week ending
Item Mar. 13 Mar. 20 Mar. 27
By type of security
1 U.S. Treasury bills 40,283 44,145 45,143
Treasury coupon securities by
maturity
2 Three years or less 126,245 133,712 176,569
3 More than three but less
than or equal to six years 98,852 83,989 84,674
4 More than six but less than
or equal to eleven years 80,437 87,647 68,496
5 More than eleven 23,711 24,174 20,340
6 Inflation-indexed (2) 1,876 1,618 2,073
Federal agency and government-
sponsored enterprises
7 Discount notes 48,300 45,465 46,347
Coupon securities by
maturity
8 Three years or less 13,394 9,495 11,634
9 More than three years but
less than or equal
to six years 18,286 8,750 13,461
10 More than six years but
less than or equal
to eleven years 5,683 5,434 11,596
11 More than eleven years 1,116 1,543 886
12 Mortgage-backed 186,160 120,768 85,962
Corporate securities
13 One year or less 103,347 119,179 111,132
14 More than one year 25,585 23,063 26,930
By type of counterparty
With interdealer broker
15 U.S. Treasury 163,503 165,508 187,493
16 Federal agency and
government-sponsored
enterprises 13,593 10,109 13,361
17 Mortgage-backed 50,720 30,510 21,395
18 Corporate 638 635 634
With other
19 U.S. Treasury 207,901 209,777 209,801
20 Federal agency and
government-sponsored
enterprises 73,186 60,578 70,562
21 Mortgage-backed 135,439 90,258 64,567
22 Corporate 128,294 141,607 137,429
(1.) The figures represent purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Reserve Bank of New York. Outright transactions include all U.S.
government, federal agency, government-sponsored enterprise,
mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as all U.S. government securities traded on a
when-issued basis between the announcement and issue date. Data do not
include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the
week.
(2.) Outright Treasury inflation-indexed securities (TIIS) transactions
are reported at principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
for inflation) times the price times the index ratio.
NOTE. Major changes in the report form filed by primary dealers induced
a break in the dealer data series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http:www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2002,
2001 2002 week
ending
Item, by type Jan. 30
of security Dec. Jan. (r) Feb. (r)
Net Outright Positions (2)
1 U.S. Treasury bills 39,006 28,500 28,170 24,799
Treasury coupon
securities by
maturity
2 Three years or
less -26,923 -27,102 -28,348 -29,185
3 More than three
years but less
than or equal to
six years -23,893 -23,434 -23,482 -29,186
4 More than six but
less than or
equal to eleven
years -16,503 -17,847 -13,477 -17,922
5 More than eleven 4,361 9,521 12,230 12,145
6 Inflation-indexed 2,940 3,415 3,450 3,284
Federal agency and
government-
sponsored
enterprises
7 Discount notes 48,745 46,497 49,069 47,310
Coupon securities,
by maturity
8 Three years or
less 10,803 13,976 11,856 14,926
9 More than three
years but less
than or equal
to six years -1,037 707 1,318 1,037
10 More than six
but less than
or equal to
eleven years 1,788 472 1,111 1,181
11 More than eleven 3,373 3,443 3,479 3,635
12 Mortgage-backed 19,169 13,742 6,195 13,827
Corporate securities
13 One year or less 17,586 18,398 17,989 15,140
14 More than one year 39,165 39,681 36,235 38,054
Financing (3)
Securities in,
U.S. Treasury
15 Overnight and
continuing 537,442 539,785 547,472 548,749
16 Term 714,984 642,804 656,569 671,119
Federal agency and
government-
sponsored
enterprises
17 Overnight and
continuing 127,437 131,213 140,693 134,466
18 Term 241,111 224,528 224,572 231,744
Mortgage-backed
securities
19 Overnight and
continuing 31,406 30,400 35,759 30,657
20 Term 224,217 212,612 217,733 214,710
Corporate securities
21 Overnight and
continuing 37,508 38,733 41,282 40,732
22 Term 18,653 19,861 22,077 21,499
MEMO
Reverse repurchase
agreements
23 Overnight and
continuing 350,965 356,539 381,084 375,740
24 Term 1,072,648 967,513 997,678 1,010,669
Securities out,
U.S. Treasury
25 Overnight and
continuing 528,953 537,222 551,187 524,470
26 Term 662,681 572,591 580,525 614,564
Federal agency and
government-
sponsored
enterprises
27 Overnight and
continuing 219,344 234,669 248,413 244,198
28 Term 194,382 167,974 167,477 170,989
Mortgage-backed
securities
29 Overnight and
continuing 280,666 288,665 286,742 274,190
30 Term 130,237 122,101 127,225 123,855
Corporate securities
31 Overnight and
continuing 95,841 97,931 100,801 99,232
32 Term 10,774 14,398 17,993 17,705
MEMO
Repurchase
agreements
33 Overnight and
continuing 980,434 1,010,207 1,044,255 999,193
34 Term 976,295 854,628 872,476 905,362
2002, week ending
Item, by type
of security Feb. 6 Feb. 13 Feb. 20 Feb. 27
Net Outright Positions (2)
1 U.S. Treasury bills 21,321 21,238 33,513 35,459
Treasury coupon
securities by
maturity
2 Three years or
less -28,808 -29,054 -29,903 -26,162
3 More than three
years but less
than or equal to
six years -25,085 -24,584 -20,171 -23,869
4 More than six but
less than or
equal to eleven
years -12,857 -14,206 -13,088 -13,353
5 More than eleven 12,228 12,804 12,277 11,791
6 Inflation-indexed 3,568 3,432 3,491 3,358
Federal agency and
government-
sponsored
enterprises
7 Discount notes 48,092 49,430 50,726 49,300
Coupon securities,
by maturity
8 Three years or
less 11,943 12,148 12,102 11,775
9 More than three
years but less
than or equal
to six years 283 1,810 686 2,817
10 More than six
but less than
or equal to
eleven years 1,108 1,410 711 1,248
11 More than eleven 3,065 3,411 3,855 3,571
12 Mortgage-backed 13,005 7,461 6,415 202
Corporate securities
13 One year or less 17,265 15,803 19,118 19,184
14 More than one year 34,047 35,251 37,845 37,172
Financing (3)
Securities in,
U.S. Treasury
15 Overnight and
continuing 556,347 523,105 558,369 551,470
16 Term 698,290 715,048 586,616 635,463
Federal agency and
government-
sponsored
enterprises
17 Overnight and
continuing 143,080 141,845 145,829 131,699
18 Term 227,156 228,523 213,966 228,884
Mortgage-backed
securities
19 Overnight and
continuing 33,451 32,697 37,700 38,201
20 Term 215,615 222,147 216,347 216,524
Corporate securities
21 Overnight and
continuing 39,034 41,358 41,700 42,354
22 Term 22,255 22,074 22,562 21,483
MEMO
Reverse repurchase
agreements
23 Overnight and
continuing 381,637 350,895 393,304 395,633
24 Term 1,044,500 1,066,793 919,194 970,575
Securities out,
U.S. Treasury
25 Overnight and
continuing 553,071 507,440 565,251 578,501
26 Term 627,275 647,568 505,379 551,633
Federal agency and
government-
sponsored
enterprises
27 Overnight and
continuing 249,943 249,698 253,204 242,416
28 Term 166,411 174,082 160,571 168,268
Mortgage-backed
securities
29 Overnight and
continuing 274,085 289,354 294,026 290,597
30 Term 121,904 134,011 125,271 126,382
Corporate securities
31 Overnight and
continuing 98,515 98,645 102,059 103,742
32 Term 17,413 16,365 19,887 18,234
MEMO
Repurchase
agreements
33 Overnight and
continuing 1,031,238 1,003,818 1,072,141 1,071,774
34 Term 914,919 949,954 790,127 843,039
2002, week ending
Item, by type
of security Mar. 6 Mar. 13 Mar. 20
Net Outright Positions (2)
1 U.S. Treasury bills 29,365 28,240 24,139
Treasury coupon
securities by
maturity
2 Three years or
less -25,054 -25,831 -21,968
3 More than three
years but less
than or equal to
six years -26,630 -33,222 -34,689
4 More than six but
less than or
equal to eleven
years -15,694 -19,007 -15,430
5 More than eleven 10,973 9,360 5,014
6 Inflation-indexed 3,235 3,980 4,292
Federal agency and
government-
sponsored
enterprises
7 Discount notes 39,201 48,806 46,367
Coupon securities,
by maturity
8 Three years or
less 8,144 9,985 8,167
9 More than three
years but less
than or equal
to six years -1,979 248 -555
10 More than six
but less than
or equal to
eleven years 869 1,601 1,637
11 More than eleven 3,155 3,006 2,123
12 Mortgage-backed -3,110 7,207 9,355
Corporate securities
13 One year or less 21,379 21,638 23,988
14 More than one year 38,416 41,053 43,072
Financing (3)
Securities in,
U.S. Treasury
15 Overnight and
continuing 560,526 569,429 565,327
16 Term 634,291 687,783 704,872
Federal agency and
government-
sponsored
enterprises
17 Overnight and
continuing 145,325 139,231 145,875
18 Term 225,458 237,047 225,112
Mortgage-backed
securities
19 Overnight and
continuing 40,355 39,769 33,249
20 Term 217,717 220,960 217,599
Corporate securities
21 Overnight and
continuing 43,808 44,549 44,718
22 Term 21,788 21,594 24,156
MEMO
Reverse repurchase
agreements
23 Overnight and
continuing 401,710 404,460 399,789
24 Term 972,051 1,033,257 1,037,880
Securities out,
U.S. Treasury
25 Overnight and
continuing 556,471 552,577 541,628
26 Term 559,003 612,452 639,945
Federal agency and
government-
sponsored
enterprises
27 Overnight and
continuing 238,684 230,978 235,062
28 Term 170,434 182,742 172,942
Mortgage-backed
securities
29 Overnight and
continuing 266,431 294,422 292,810
30 Term 131,224 133,294 134,162
Corporate securities
31 Overnight and
continuing 100,217 105,171 116,128
32 Term 17,913 19,233 17,016
MEMO
Repurchase
agreements
33 Overnight and
continuing 1,017,584 1,041,599 1,033,480
34 Term 857,963 926,003 944,365
(1.) Data for positions and financing are obtained from reports
submitted to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of primary
dealers. Weekly figures are close-of-business Wednesday data.
Positions for calendar days of the report week are assumed to
be constant. Monthly averages are based on the number of calendar
days in the month.
(2.) Net outright positions include all U.S. government, federal
agency, government-sponsored enterprise, mortgage-backed, and
corporate securities scheduled for immediate and forward delivery,
as well as U.S. government securities traded on a when-issued basis
between the announcement and issue date.
(3.) Figures cover financing U.S. government, federal agency,
government-sponsored enterprise, mortgage-backed, and corporate
securities. Financing transactions for Treasury inflation-indexed
securities (TIIS) are reported in actual funds paid or received,
except for pledged securities. TIIS that are issued as pledged
securities are reported at par value, which is the value of the
security at original issuance (unadjusted for inflation).
NOTE. Major changes in the report form filed by primary dealers
included a break in many series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of
New York web site (http://www.newyorkfed.org/pihome/statistics)
under the Primary Dealer heading.
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1998 1999 2000
1 Federal and federally sponsored
agencies 1,296,477 1,616,492 1,851,632
2 Federal agencies 26,502 26,376 25,666
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2),(3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 205 126 255
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 26,496 26,370 25,660
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,269,975 1,590,116 1,825,966
11 Federal Home Loan Banks 382,131 529,005 594,404
12 Federal Home Loan Mortgage
Corporation 287,396 360,711 426,899
13 Federal National Mortgage
Association 460,291 547,619 642,700
14 Farm Credit Banks (8) 63,488 68,883 74,181
15 Student Loan Marketing
Association (9) 35,399 41,988 45,375
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation (11) 1,261 1,261 1,261
18 Resolution Funding Corporation
(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 44,129 42,152 40,575
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 9,500 6,665 5,275
26 Rural Electrification
Administration 14,091 14,085 13,126
27 Other 20,538 21,402 22,174
2001
Agency 2001 Sept. Oct.
1 Federal and federally sponsored
agencies n.a. 2,071,164 26,781
2 Federal agencies 276 27,017 6
3 Defense Department (1) 6 6 n.a.
4 Export-Import Bank (2),(3) n.a. n.a. 252
5 Federal Housing Administration
(4) 26,828 231 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. 26,775
8 Tennessee Valley Authority 270 27,011 n.a.
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 2,120,781 2,044,147 2,053,686
11 Federal Home Loan Banks 623,740 614,325 618,071
12 Federal Home Loan Mortgage
Corporation 565,071 534,434 540,371
13 Federal National Mortgage
Association 763,500 727,000 726,200
14 Farm Credit Banks (8) 76,673 76,385 76,339
15 Student Loan Marketing
Association (9) 48,350 49,404 50,075
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation (11) 1,261 1,261 1,261
18 Resolution Funding Corporation
(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 39,096 42,825 40,574
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. 4,375 n.a.
26 Rural Electrification
Administration 13,876 13,599 13,698
27 Other 25,220 30,851 26,876
2001 2002
Agency Nov. Dec. Jan.
1 Federal and federally sponsored
agencies n.a. n.a. n.a.
2 Federal agencies 275 276 290
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2),(3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 26,655 26,828 26,741
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 269 270 284
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 2,071,168 2,120,781 n.a.
11 Federal Home Loan Banks 617,146 623,740 623,990
12 Federal Home Loan Mortgage
Corporation 546,566 565,071 571,867
13 Federal National Mortgage
Association 737,500 763,500 760,500
14 Farm Credit Banks (8) 75,815 76,673 76,494
15 Student Loan Marketing
Association (9) 51,494 48,350 n.a.
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) 40,485 39,096 38,140
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration n.a. n.a. n.a.
26 Rural Electrification
Administration 13,822 13,876 13,982
27 Other 26,663 25,220 24,158
(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 borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to
purchase or sell obligations issued, sold, or guaranteed by other
federal agencies. Because FFB incurs debt solely for the purpose
of lending to other agencies, its debt is not included in the
main portion of the table to avoid double counting.
(14.) Includes FFB purchases of agency assets and guaranteed loans;
the latter are loans guaranteed by numerous agencies, with the amounts
guaranteed by any one agency generally being small. The Farmers Home
Administration entry consists exclusively of agency assets, whereas
the Rural Electrification Administration entry consists of both agency
assets and guaranteed loans.
Securities Markets and Corporate Finance
1.45 NEW SECURITY ISSUES Tax-Exempt State and Local Governments
Millions of dollars
2001
Type of issue or
issuer, or use 1999 2000 2001 Aug.
1 All issues new and
refunding (1) 215,427 180,403 270,566 21,152
By type of issue
2 General obligation 73,308 64,475 100,519 8,976
3 Revenue 142,120 115,928 170,047 12,356
By type of issuer
4 State 16,376 19,944 30,099 2,713
5 Special district or
statutory autho-
rity (2) 152,418 111,695 281,427 12,351
6 Municipality,
county, or town-
ship 46,634 39,273 61,040 6,088
7 Issues for new
capital 161,065 154,257 192,161 13,550
By use of proceeds
8 Education 36,563 38,665 50,054 2,950
9 Transportation 17,394 19,730 21,411 1,669
10 Utilities and con-
servation 15,098 11,917 21,917 1,228
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 9,099 7,122 6,607 708
13 Other purposes 47,896 47,309 55,733 4,524
2001
Type of issue or
issuer, or use Sept. Oct. Nov. Dec.
1 All issues new and
refunding (1) 13,159 30,446 30,105 28,363
By type of issue
2 General obligation 3,926 14,302 10,163 9,218
3 Revenue 9,233 16,144 19,942 19,146
By type of issuer
4 State 1,504 6,008 2,271 746
5 Special district or
statutory autho-
rity (2) 9,137 17,382 21,601 22,525
6 Municipality,
county, or town-
ship 2,518 7,056 6,233 5,093
7 Issues for new
capital 10,110 21,249 21,009 21,389
By use of proceeds
8 Education 3,017 4,279 4,475 4,818
9 Transportation 1,195 1,587 2,882 1,349
10 Utilities and con-
servation 1,025 2,324 2,429 2,560
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 663 688 359 1,642
13 Other purposes 1,732 9,158 5,281 6,319
2002
Type of issue or
issuer, or use Jan. Feb. Mar.
1 All issues new and
refunding (1) 20,523 20,175 23,842
By type of issue
2 General obligation 8,157 8,652 10,269
3 Revenue 12,366 11,523 13,574
By type of issuer
4 State 1,826 3,238 3,265
5 Special district or
statutory autho-
rity (2) 14,369 11,950 15,479
6 Municipality,
county, or town-
ship 4,329 4,987 5,098
7 Issues for new
capital 14,631 13,248 16,856
By use of proceeds
8 Education 4,138 3,961 5,484
9 Transportation 1,079 613 1,633
10 Utilities and con-
servation 1,711 1,606 1,290
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 539 125 515
13 Other purposes 4,639 4,897 4,894
(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
2001
Type of issue, offering,
or issuer 1999 2000 2001 July
1 All uses (1) 1,072,866 942,198 1,382,003 93,451
2 Bonds (2) 941,298 807,281 1,253,449 84,872
By type of offering
3 Sold in the United States 818,683 684,484 1,197,060 79,508
4 Sold abroad 122,615 122,798 56,389 5,364
MEMO
5 Private placements,
domestic 24,703 18,370 8,734 12
By industry group
6 Nonfinancial 293,963 242,207 445,930 18,904
7 Financial 647,335 565,074 807,519 65,968
8 Stocks (3) 223,968 283,717 128,554 8,579
By type of offering
9 Public 131,568 134,917 128,544 8,579
10 Private placement (4) 92,400 148,800 n.a. n.a.
By industry group
11 Nonfinancial 110,284 118,369 77,577 4,237
12 Financial 21,284 16,548 50,977 4,342
2001
Type of issue, offering,
or issuer Aug. Sept. Oct. Nov.
1 All uses (1) 97,944 89,855 139,181 123,517
2 Bonds (2) 89,990 84,509 123,346 110,888
By type of offering
3 Sold in the United States 86,759 80,223 120,162 106,563
4 Sold abroad 3,231 4,286 3,185 4,326
MEMO
5 Private placements,
domestic 48 0 224 4,936
By industry group
6 Nonfinancial 28,546 31,920 43,830 42,189
7 Financial 61,443 52,589 79,517 68,699
8 Stocks (3) 7,954 5,346 15,835 12,629
By type of offering
9 Public 7,954 5,346 15,835 12,629
10 Private placement (4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 5,487 81 7,611 7,592
12 Financial 2,467 5,265 8,224 5,037
2001 2002
Type of issue, offering,
or issuer Dec. Jan. Feb.
1 All uses (1) 96,576 102,688 86,090
2 Bonds (2) 81,339 88,241 79,515
By type of offering
3 Sold in the United States 79,636 79,472 73,474
4 Sold abroad 1,703 8,770 6,041
MEMO
5 Private placements,
domestic 2,880 0 0
By industry group
6 Nonfinancial 21,647 18,894 30,770
7 Financial 59,692 69,348 48,746
8 Stocks (3) 15,237 14,447 6,575
By type of offering
9 Public 15,237 14,447 6,575
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 7,771 9,579 4,024
12 Financial 7,466 4,868 2,551
(1.) Figures represent gross proceeds of issues maturing in more than
one year; they are the principal amount or number of units calculated
by multiplying by the offering price. Figures exclude secondary
offerings, employee stock plans, investment companies other than
closed-end, intracorporate transactions, and Yankee bonds. Stock data
include ownership securities issued by limited partnerships.
(2.) Monthly data include 144(a) offerings.
(3.) Monthly data cover only public offerings.
(4.) Data are not available.
SOURCE. Securities Data Company and the Board of Governors of the
Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets (1)
Millions of dollars
2001
Item 2000 2001 Aug. Sept.
1 Sales of own
shares (2) 2,279,315 1,806,474 142,577 105,038
2 Redemptions of
own shares 2,057,277 1,677,266 131,408 127,995
3 Net sales (3) 222,038 129,208 11,169 -22,957
4 Assets (4) 5,123,747 4,689,624 4,635,477 4,253,850
5 Cash (5) 277,386 219,620 240,329 223,077
6 Other 4,846,361 4,470,004 4,395,148 4,030,773
2001 2002
Item Oct. Nov. Dec. Jan.
1 Sales of own
shares (2) 153,827 147,192 151,779 171,499
2 Redemptions of
own shares 137,837 124,060 149,705 138,773
3 Net sales (3) 15,990 23,132 2,074 32,726
4 Assets (4) 4,376,923 4,625,601 4,689,624 4,667,688
5 Cash (5) 229,576 239,671 219,620 240,141
6 Other 4,147,347 4,385,930 4,470,004 4,427,547
2002
Item Feb. (r) Mar.
1 Sales of own
shares (2) 141,463 171,298
2 Redemptions of
own shares 123,013 131,828
3 Net sales (3) 18,450 39,470
4 Assets (4) 4,623,041 4,816,572
5 Cash (5) 234,510 241,236
6 Other 4,388,531 4,575,336
(1.) Data include stock, hybrid, and bond mutual funds and exclude
money market mutual funds.
(2.) Excludes reinvesunent of net income dividends and capital gains
distributions and share issue of conversions from one fund to another
in the same group.
(3.) Excludes sales and redemptions resulting from transfers of shares
into or out of money market mutual funds within the same fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term debt
securities.
SOURCE. Investment Company Institute. Data based on reports of
membership, which comprises susbstantially all open-end investment
companies registered with the Securities and Exchange Commission. Data
reflect underwritings of newly formed companies after their initial
offering of securities.
1.48 CORPORATE PROFITS AND THEIR DISTRIBUTION
Billions of dollars; quarterly data at seasonally adjusted annual rates
2000
Account 1999 2000 2001 Q1 Q2 Q3
1 Profits with inven-
tory valuation and
capital consump-
tion adjustment 825.2 876.4 767.1 870.3 892.8 895.0
2 Profits before taxes 776.3 845.4 698.5 844.9 862.0 858.3
3 Profits-tax liabi-
lity 253.0 271.5 216.0 277.0 280.4 274.9
4 Profits after tax 523.3 573.9 482.5 567.8 581.6 583.4
5 Dividends 343.5 379.6 416.6 361.5 373.7 386.2
6 Undistributed
profits 179.8 194.3 65.9 206.3 207.9 197.2
7 Inventory valuation -2.9 -12.4 2.2 -23.8 -14.8 -3.6
8 Capital consumption
adjustment 51.7 43.4 66.4 49.2 45.5 40.4
2000 2001
Account Q4 Q1 Q2 Q3 Q4
1 Profits with inven-
tory valuation and
capital consump-
tion adjustment 847.6 789.8 759.8 697.0 822.0
2 Profits before taxes 816.5 755.7 738.3 680.6 619.4
3 Profits-tax liabi-
lity 253.5 236.8 228.0 204.9 194.1
4 Profits after tax 563.0 518.9 510.3 475.6 425.2
5 Dividends 397.0 405.2 412.3 420.4 428.7
6 Undistributed
profits 165.9 113.7 98.0 55.2 -3.5
7 Inventory valuation -7.3 -1.9 -8.8 3.1 16.6
8 Capital consumption
adjustment 38.4 36.0 30.3 13.4 186.1
SOURCE. U.S. Department of Commerce, Survey of Current Business.
Table 1.48 will no longer he published in the Federal Reserve Bulletin
after this issue (June 2002).
For information on where to obtain the data presented in this table,
please see the "Announcements" section, pp. 290-91.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities (1)
Billions of dollars, end of period; not seasonally adjusted
2000
Account 1999 2000 2001 Q3 Q4
ASSETS
1 Accounts recei-
vable, gross
(2) 845.4 958.6 970.9 939.9 958.6
2 Consumer 304.4 327.9 340.2 331.5 327.9
3 Business 395.1 458.4 447.0 443.0 458.4
4 Real estate 145.8 172.3 183.7 165.4 172.3
5 LESS: Reserves for
unearned
income 61.4 69.7 60.7 68.3 69.7
6 Reserves for
losses 14.7 16.7 20.2 15.6 16.7
7 Accounts recei-
vable, net 769.3 872.2 890.1 856.1 872.2
8 All other 406.6 461.5 500.1 442.3 461.5
9 Total assets
1,175.9 1,333.7 1,390.1 1,298.4 1,333.7
LIABILITIES AND
CAPITAL
10 Bank loans 35.4 35.9 49.4 35.7 35.9
11 Commercial paper 230.4 238.8 157.3 218.8 238.8
Debt
12 Owed to parent 87.8 102.5 99.5 100.0 102.5
13 Not elsewhere
classified 429.9 502.2 564.1 507.3 502.2
14 All other liabili-
ties 237.8 301.8 330.8 288.1 301.8
15 Capital, surplus
and undivided
profits 154.5 152.5 189.1 148.5 152.5
16 Total liabilities
and capital 1,175.9 1,333.7 1,390.1 1,298.4 1,333.7
2001 2002
Account Q1 Q2 Q3 Q4 Q1
ASSETS
1 Accounts recei-
vable, gross
(2) 954.4 988.7 967.7 970.9 n.a.
2 Consumer 319.2 324.5 329.2 340.2 n.a.
3 Business 459.1 481.9 451.1 447.0 n.a.
4 Real estate 176.1 182.3 187.4 183.7 n.a.
5 LESS: Reserves for
unearned
income 69.9 61.5 60.8 60.7 n.a.
6 Reserves for
losses 17.2 17.4 18.0 20.2 n.a.
7 Accounts recei-
vable, net 867.3 909.7 888.9 890.1 n.a.
8 All other 474.8 459.0 478.8 500.1 n.a.
9 Total assets
1,342.1 1,368.7 1,367.7 1,390.1 n.a.
LIABILITIES AND
CAPITAL
10 Bank loans 41.6 45.3 44.5 49.4 n.a.
11 Commercial paper 180.9 181.6 171.0 157.3 n.a.
Debt
12 Owed to parent 97.2 93.4 91.7 99.5 n.a.
13 Not elsewhere
classified 533.8 542.1 555.8 564.1 n.a.
14 All other liabili-
ties 325.1 336.3 327.6 330.8 n.a.
15 Capital, surplus
and undivided
profits 163.5 170.0 177.2 189.1 n.a.
16 Total liabilities
and capital 1,342.1 1,368.7 1,367.7 1,390.1 n.a.
(1.) Includes finance company subsidiaries of bank holding companies
but not of of retailers and banks. Data are amounts carried on the
balance sheets of finance companies; securitized pools are not shown,
as they are not on the books.
(2.) Before deduction for unearned income and losses. Excludes pools of
securitized assets.
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables (1)
Billions of dollars, amounts outstanding
Type of credit 1999 2000 2001
Seasonally adjusted
1 Total 1,031.2 1,186.9 1,251.6
2 Consumer 410.2 465.2 513.9
3 Real estate 174.0 198.9 211.6
4 Business 446.9 522.8 526.2
Not seasonally adjusted
5 Total 1,036.4 1,192.1 1,256.9
6 Consumer 412.7 468.3 517.4
7 Motor vehicle loans 129.2 141.6 173.9 (r)
8 Motor vehicle leases 102.9 108.2 103.5
9 Revolving (2) 32.5 37.6 31.5
10 Other (3) 39.8 40.7 31.1
Securitized assets (4)
11 Motor vehicle loans 73.1 97.1 131.9 (r)
12 Motor vehicle leases 9.7 6.6 6.8
13 Revolving 6.7 19.6 24.3
14 Other 18.8 17.1 14.3
15 Real estate 174.0 198.9 211.6
16 One- to four-family 108.2 130.6 142.5
17 Other 37.6 41.7 41.2
Securitized real estate
assets (4)
18 One- to four-family 28.0 24.7 22.2
19 Other .2 1.9 5.7
20 Business 449.6 525.0 527.9
21 Motor vehicles 69.4 75.5 54.0
22 Retail loans 21.1 18.3 16.1
23 Wholesale loans (5) 34.8 39.7 20.3
24 Leases 13.6 17.6 17.6
25 Equipment 238.7 283.5 289.4
26 Loans 64.5 70.2 77.8
27 Leases 174.2 213.3 211.6
28 Other business
receivables (6) 87.0 99.4 103.5
Securitized assets (4)
29 Motor vehicles 31.5 37.8 50.1
30 Retail loans 2.9 3.2 5.1
31 Wholesale loans 26.4 32.5 42.5
32 Leases 2.1 2.2 2.5
33 Equipment 14.6 23.1 23.2
34 Loans 7.9 15.5 16.4
35 Leases 6.7 7.6 6.8
36 Other business
receivables (6) 8.4 5.6 7.7
2001
Type of credit Sept. Oct. Nov.
Seasonally adjusted
1 Total 1,246.7 1,255.3 1,262.0
2 Consumer 496.0 499.4 511.0
3 Real estate 213.1 219.7 213.1
4 Business 537.6 536.1 537.9
Not seasonally adjusted
5 Total 1,239.5 1,250.1 1,256.3
6 Consumer 498.0 501.1 514.2
7 Motor vehicle loans 151.6 164.6 177.2 (r)
8 Motor vehicle leases 108.3 107.3 105.5
9 Revolving (2) 35.9 28.5 30.2
10 Other (3) 33.4 31.2 31.4
Securitized assets (4)
11 Motor vehicle loans 117.5 124.3 125.0 (r)
12 Motor vehicle leases 7.0 6.9 7.0
13 Revolving 29.3 23.5 23.4
14 Other 15.0 14.8 14.5
15 Real estate 213.1 219.7 213.1
16 One- to four-family 144.8 150.1 142.9
17 Other 42.6 44.1 44.9
Securitized real estate
assets (4)
18 One- to four-family 22.8 22.7 22.4
19 Other 2.9 2.9 2.9
20 Business 528.4 529.3 529.0
21 Motor vehicles 57.8 52.7 52.9
22 Retail loans 16.7 16.8 16.2
23 Wholesale loans (5) 23.6 18.7 19.5
24 Leases 17.5 17.2 17.2
25 Equipment 288.2 294.4 291.8
26 Loans 76.8 80.2 76.7
27 Leases 211.4 214.1 215.1
28 Other business
receivables (6) 105.1 108.3 110.8
Securitized assets (4)
29 Motor vehicles 48.0 45.3 43.9
30 Retail loans 2.6 2.4 3.0
31 Wholesale loans 42.8 40.3 38.3
32 Leases 2.7 2.7 2.7
33 Equipment 23.1 22.5 23.4
34 Loans 15.1 14.5 15.5
35 Leases 8.0 8.0 7.9
36 Other business
receivables (6) 6.1 6.1 6.2
2001 2002
Type of credit Dec. Jan. Feb.
Seasonally adjusted
1 Total 1,251.6 1,236.2 (r) 1,243.3
2 Consumer 513.9 511.5 (r) 518.8
3 Real estate 211.6 205.3 205.6
4 Business 526.2 519.4 (r) 519.0
Not seasonally adjusted
5 Total 1,256.9 1,240.2 (r) 1,244.5
6 Consumer 517.4 512.2 (r) 517.1
7 Motor vehicle loans 173.9 (r) 168.9 (r) 172.6
8 Motor vehicle leases 103.5 102.4 (r) 101.2
9 Revolving (2) 31.5 29.9 (r) 29.2
10 Other (3) 31.1 31.3 (r) 31.6
Securitized assets (4)
11 Motor vehicle loans 131.9 (r) 135.1 (r) 136.8
12 Motor vehicle leases 6.8 6.7 (r) 6.6
13 Revolving 24.3 23.9 25.3
14 Other 14.3 13.8 13.9
15 Real estate 211.6 205.3 205.6
16 One- to four-family 142.5 118.3 118.7
17 Other 41.2 41.0 41.1
Securitized real estate
assets (4)
18 One- to four-family 22.2 40.3 40.1
19 Other 5.7 5.7 5.7
20 Business 527.9 522.7 (r) 521.8
21 Motor vehicles 54.0 52.0 (r) 54.5
22 Retail loans 16.1 16.4 17.0
23 Wholesale loans (5) 20.3 18.0 (r) 20.1
24 Leases 17.6 17.6 17.5
25 Equipment 289.4 287.4 285.7
26 Loans 77.8 75.9 74.8
27 Leases 211.6 211.5 210.9
28 Other business
receivables (6) 103.5 103.8 (r) 100.9
Securitized assets (4)
29 Motor vehicles 50.1 49.1 46.7
30 Retail loans 5.1 4.7 4.6
31 Wholesale loans 42.5 41.9 39.6
32 Leases 2.5 2.5 2.5
33 Equipment 23.2 22.7 26.2
34 Loans 16.4 15.9 19.4
35 Leases 6.8 6.8 6.7
36 Other business
receivables (6) 7.7 7.7 7.8
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to the
June 1996 Survey of Finance Companies. In that benchmark survey, and
in the monthly surveys that have followed, more detailed breakdowns
have been obtained for some components. In addition, previously
unavailable data on securitized real estate loans are now included in
this table. The new information has resulted in some reclassification
of receivables among the three major categories (consumer, real
estate, and business) and in discontinuities in some component series
between May and June 1996.
Includes finance company subsidiaries of bank holding companies but
not of retailers and banks. Data in this table also appear in the
Board's G.20 (422) monthly statistical release. For ordering address,
see inside front cover.
(1.) Owned receivables are those carried on the balance sheet of the
institution. Managed receivables are outstanding balances of pools
upon which securities have been issued; these balances are no longer
carried on the balance sheets of the loan originator. Data are shown
before deductions for unearned income and losses. Components may not
sum to totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans to
purchase other types of consumer goods, such as appliances, apparel,
boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets
of the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans
used primarily for business or farm purposes; and wholesale and
lease paper for mobile homes, campers, and travel trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
Item 1999 2000 2001
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 210.7 234.5 245.0
2 Amount of loan (thousands of
dollars) 161.7 177.0 184.2
3 Loan-to-price ratio
(percent) 78.7 77.4 77.3
4 Maturity (years) 28.8 29.2 28.8
5 Fees and charges (percent of
loan amount) (2) .77 .70 .67
Yield (percent per year)
6 Contract rate (1) 6.94 7.41 6.90
7 Effective rate (1), (3) 7.06 7.52 7.00
8 Contract rate (HUD
series) (4) 7.45 n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section
203) (5) 7.74 n.a. n.a.
10 GNMA securities (6) 7.03 7.57 6.36
Activity in secondary
markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings (end of
period)
11 Total 523,941 610,122 n.a.
12 FHA/VA insured 55,318 61,539 n.a.
13 Conventional 468,623 548,583 n.a.
14 Mortgage transactions
purchased (during period) 195,210 154,231 270,384
Mortgage commitments (during
period)
15 Issued (7) 187,948 163,689 304,084
16 To sell (8) 5,900 11,786 7,586
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 324,443 385,693 491,719
18 FHA/VA insured 1,836 3,332 3,506
19 Conventional 322,607 382,361 488,213
Mortgage transactions
(during period)
20 Purchases 239,793 174,043 n.a.
21 Sales 233,031 166,901 389,611
22 Mortgage commitments
contracted (during
period) (9) 228,432 169,231 417,434
2001
Item Sept. Oct. Nov. Dec.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 246.6 242.9 252.2 253.0
2 Amount of loan (thousands of
dollars) 184.3 181.2 189.1 190.0
3 Loan-to-price ratio
(percent) 77.1 76.9 77.2 77.2
4 Maturity (years) 29.0 28.5 28.6 28.9
5 Fees and charges (percent of
loan amount) (2) .61 .67 .63 .69
Yield (percent per year)
6 Contract rate (1) 6.80 6.63 6.54 6.68
7 Effective rate (1), (3) 6.89 6.73 6.63 6.79
8 Contract rate (HUD
series) (4) n.a. n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section
203) (5) n.a. n.a. n.a. n.a.
10 GNMA securities (6) 6.03 5.86 5.96 6.43
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings (end of
period)
11 Total n.a. n.a. n.a. n.a.
12 FHA/VA insured n.a. n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a. n.a.
14 Mortgage transactions
purchased (during period) 16,016 20,020 25,389 36,769
Mortgage commitments (during
period)
15 Issued (7) 16,650 35,275 49,909 19,867
16 To sell (8) 261 1,676 807 2,083
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 470,850 477,588 483,911 491,719
18 FHA/VA insured 2,597 2,553 3,562 3,506
19 Conventional 468,253 475,035 480,349 488,213
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a. n.a.
21 Sales 32,666 31,646 38,958 50,532
22 Mortgage commitments
contracted (during
period) (9) 31,140 41,346 42,619 51,456
2002
Item Jan. Feb. Mar.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 245.8 250.6 255.6
2 Amount of loan (thousands of
dollars) 186.7 190.1 193.3
3 Loan-to-price ratio
(percent) 78.1 78.2 78.2
4 Maturity (years) 28.8 28.8 29.1
5 Fees and charges (percent of
loan amount) (2) .66 .62 .62
Yield (percent per year)
6 Contract rate (1) 6.77 6.72 6.66
7 Effective rate (1), (3) 6.87 6.82 6.76
8 Contract rate (HUD
series) (4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section
203) (5) n.a. n.a. n.a.
10 GNMA securities (6) 6.32 6.13 6.50
Activity in secondary
markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings (end of
period)
11 Total n.a. n.a. n.a.
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions
purchased (during period) 36,392 33,249 21,305
Mortgage commitments (during
period)
15 Issued (7) n.a. n.a. n.a.
16 To sell (8) n.a. n.a. n.a.
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 508,238 522,886 526,107
18 FHA/VA insured 3,447 3,387 3,332
19 Conventional 504,791 519,499 522,775
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a.
21 Sales 49,031 47,473 42,545
22 Mortgage commitments
contracted (during
period) (9) 47,076 41,442 41,561
(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.
Real Estate
1.54 MORTGAGE DEBT OUTSTANDING (1)
Millions of dollars, end of period
Type of holder and property 1998 1999 2000
1 All holders 5,722,564 6,360,244 6,934,256
By type of property
2 One- to four-family residences 4,368,902 4,804,019 5,224,846
3 Multifamily residences 333,969 376,771 413,358
4 Nonfarm, nonresidential 923,186 1,076,492 1,187,217
5 Farm 96,506 102,962 108,836
By type of holder
6 Major financial institutions 2,195,869 2,396,265 2,620,886
7 Commercial banks (2) 1,338,273 1,496,844 1,661,411
8 One- to four-family 798,009 880,208 966,502
9 Multifamily 54,174 67,666 77,821
10 Nonfarm, nonresidential 457,054 517,130 583,071
11 Farm 29,035 31,839 34,016
12 Savings institutions (3) 643,957 668,634 723,534
13 One- to four-family 533,895 549,046 595,053
14 Multifamily 56,847 59,168 61,094
15 Nonfarm, nonresidential 52,798 59,945 66,852
16 Farm 417 475 535
17 Life insurance companies 213,640 230,787 235,941
18 One- to four-family 6,590 5,934 4,903
19 Multifamily 31,522 32,818 33,681
20 Nonfarm nonresidential 164,004 179,048 183,757
21 Farm 11,524 12,987 13,600
22 Federal and related agencies 293,602 322,132 343,962
23 Government National Mortgage
Association 7 7 6
24 One- to four-family 7 7 6
25 Multifamily 0 0 0
26 Farmers Home
Administration (4) 40,851 73,871 73,323
27 One- to four-family 16,895 16,506 16,372
28 Multifamily 11,739 11,741 11,733
29 Nonfarm, nonresidential 7,705 41,355 41,070
30 Farm 4,513 4,268 4,148
31 Federal Housing and Veterans'
Administrations 3,674 3,712 3,507
32 One- to four-family 1,849 1,851 1,308
33 Multifamily 1,825 1,861 2,199
34 Resolution Trust Corporation 24 -10 -892
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 361 152 45
40 One- to four-family 58 25 7
41 Multifamily 70 29 9
42 Nonfarm, nonresidential 233 98 29
43 Farm 0 0 0
44 Federal National Mortgage
Association 157,675 151,500 155,363
45 One- to four-family 147,594 141,195 144,150
46 Multifamily 10,081 10,305 11,213
47 Federal Land Banks 32,983 34,187 36,326
48 One- to four-family 1,941 2,012 2,137
49 Farm 0 0 0
50 Federal Home Loan Mortgage
Corporation 57,085 56,676 59,240
51 One- to four-family 49,106 44,321 42,871
52 Multifamily 7,979 12,355 16,369
53 Mortgage pools or trusts (5) 2,581,395 2,948,294 3,231,426
54 Government National Mortgage
Association 537,446 582,263 611,553
55 One- to four-family 522,498 565,189 592,624
56 Multifamily 14,948 17,074 18,929
57 Federal Home Loan Mortgage
Corporation 646,459 749,081 822,310
58 One- to four-family 643,465 744,619 816,602
59 Multifamily 2,994 4,462 5,708
60 Federal National Mortgage
Association 834,517 960,883 1,057,750
61 One- to four-family 804,204 924,941 1,016,398
62 Multifamily 30,313 35,942 41,352
63 Farmers Home
Administration (4) 1 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 1 0 0
68 Private mortgage conduits 562,972 656,067 739,813
69 One- to four-family (6) 405,153 455,021 499,834
70 Multifamily 33,784 42,293 48,786
71 Nonfarm, nonresidential 124,035 158,754 191,193
72 Farm 0 0 0
73 Individuals and others (7) 651,697 693,553 737,983
74 One- to four-family 436,684 471,348 510,148
75 Multifamily 77,684 80,826 84,243
76 Nonfarm, nonresidential 117,355 120,162 121,244
77 Farm 19,974 21,217 22,348
2000 2001
Type of holder and property Q4 Q1 Q2
1 All holders 6,934,256 7,056,489 7,266,508
By type of property
2 One- to four-family residences 5,224,846 5,318,138 5,476,209
3 Multifamily residences 413,358 421,532 433,213
4 Nonfarm, nonresidential 1,187,217 1,206,945 1,244,035
5 Farm 108,836 109,873 113,050
By type of holder
6 Major financial institutions 2,620,886 2,664,837 2,716,269
7 Commercial banks (2) 1,661,411 1,688,673 1,727,463
8 One- to four-family 966,502 978,144 999,396
9 Multifamily 77,821 79,890 80,542
10 Nonfarm, nonresidential 583,071 596,405 612,366
11 Farm 34,016 34,234 35,159
12 Savings institutions (3) 723,534 741,114 751,660
13 One- to four-family 595,053 608,289 616,506
14 Multifamily 61,094 62,666 63,193
15 Nonfarm, nonresidential 66,852 69,589 71,378
16 Farm 535 569 583
17 Life insurance companies 235,941 235,050 237,146
18 One- to four-family 4,903 4,877 5,003
19 Multifamily 33,681 33,557 33,842
20 Nonfarm nonresidential 183,757 183,078 184,634
21 Farm 13,600 13,538 13,667
22 Federal and related agencies 343,962 346,276 355,218
23 Government National Mortgage
Association 6 6 6
24 One- to four-family 6 6 6
25 Multifamily 0 0 0
26 Farmers Home
Administration (4) 73,323 73,361 73,206
27 One- to four-family 16,372 16,297 16,153
28 Multifamily 11,733 11,725 11,720
29 Nonfarm, nonresidential 41,070 41,247 41,262
30 Farm 4,148 4,093 4,072
31 Federal Housing and Veterans'
Administrations 3,507 2,873 2,918
32 One- to four-family 1,308 1,276 1,267
33 Multifamily 2,199 1,597 1,651
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 45 50 24
40 One- to four-family 7 8 4
41 Multifamily 9 10 5
42 Nonfarm, nonresidential 29 32 15
43 Farm 0 0 0
44 Federal National Mortgage
Association 155,363 156,294 159,221
45 One- to four-family 144,150 145,014 147,730
46 Multifamily 11,213 11,280 11,491
47 Federal Land Banks 36,326 37,072 38,686
48 One- to four-family 2,137 2,181 2,276
49 Farm 0 0 0
50 Federal Home Loan Mortgage
Corporation 59,240 60,110 61,542
51 One- to four-family 42,871 42,771 42,537
52 Multifamily 16,369 17,339 19,005
53 Mortgage pools or trusts (5) 3,231,426 3,301,680 3,438,372
54 Government National Mortgage
Association 611,553 601,523 595,679
55 One- to four-family 592,624 581,743 574,888
56 Multifamily 18,929 19,780 20,792
57 Federal Home Loan Mortgage
Corporation 822,310 833,616 873,750
58 One- to four-family 816,602 827,769 867,924
59 Multifamily 5,708 5,847 5,826
60 Federal National Mortgage
Association 1,057,750 1,099,049 1,163,978
61 One- to four-family 1,016,398 1,055,412 1,116,534
62 Multifamily 41,352 43,637 47,444
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 739,813 767,492 804,965
69 One- to four-family (6) 499,834 523,300 539,200
70 Multifamily 48,786 49,026 51,662
71 Nonfarm, nonresidential 191,193 195,166 214,103
72 Farm 0 0 0
73 Individuals and others (7) 737,983 743,696 756,649
74 One- to four-family 510,148 514,759 527,387
75 Multifamily 84,243 84,961 85,827
76 Nonfarm, nonresidential 121,244 121,428 120,276
77 Farm 22,348 22,547 23,160
2001
Type of holder and property Q3 Q4
1 All holders 7,465,623 7,658,000
By type of property
2 One- to four-family residences 5,622,701 5,757,906
3 Multifamily residences 446,925 460,605
4 Nonfarm, nonresidential 1,281,332 1,324,179
5 Farm 114,666 115,310
By type of holder
6 Major financial institutions 2,737,607 2,792,020
7 Commercial banks (2) 1,740,321 1,793,061
8 One- to four-family 989,081 1,024,842
9 Multifamily 84,051 84,981
10 Nonfarm, nonresidential 631,757 647,669
11 Farm 35,432 35,569
12 Savings institutions (3) 758,343 758,109
13 One- to four-family 620,882 620,975
14 Multifamily 64,193 64,323
15 Nonfarm, nonresidential 72,695 72,275
16 Farm 574 536
17 Life insurance companies 238,943 240,850
18 One- to four-family 5,085 5,187
19 Multifamily 33,842 33,947
20 Nonfarm nonresidential 186,235 187,673
21 Farm 13,781 14,043
22 Federal and related agencies 360,906 373,050
23 Government National Mortgage
Association 9 8
24 One- to four-family 9 8
25 Multifamily 0 0
26 Farmers Home
Administration (4) 72,118 72,452
27 One- to four-family 15,916 15,824
28 Multifamily 11,710 11,712
29 Nonfarm, nonresidential 40,470 40,965
30 Farm 4,023 3,952
31 Federal Housing and Veterans'
Administrations 3,155 3,290
32 One- to four-family 1,251 1,260
33 Multifamily 1,904 2,031
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 26 13
40 One- to four-family 4 2
41 Multifamily 5 3
42 Nonfarm, nonresidential 17 8
43 Farm 0 0
44 Federal National Mortgage
Association 163,592 167,121
45 One- to four-family 151,786 155,060
46 Multifamily 11,806 12,061
47 Federal Land Banks 39,722 39,722
48 One- to four-family 2,337 2,337
49 Farm 0 0
50 Federal Home Loan Mortgage
Corporation 59,638 62,793
51 One- to four-family 39,217 40,310
52 Multifamily 20,421 22,483
53 Mortgage pools or trusts (5) 3,593,772 3,717,398
54 Government National Mortgage
Association 603,798 589,458
55 One- to four-family 582,408 567,550
56 Multifamily 21,391 21,908
57 Federal Home Loan Mortgage
Corporation 927,490 948,409
58 One- to four-family 921,709 940,933
59 Multifamily 5,781 7,476
60 Federal National Mortgage
Association 1,228,131 1,290,351
61 One- to four-family 1,177,995 1,238,125
62 Multifamily 50,136 52,226
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 834,353 889,180
69 One- to four-family (6) 550,021 574,500
70 Multifamily 54,522 60,158
71 Nonfarm, nonresidential 229,810 254,522
72 Farm 0 0
73 Individuals and others (7) 773,337 775,532
74 One- to four-family 542,568 543,553
75 Multifamily 86,950 87,087
76 Nonfarm, nonresidential 120,348 121,067
77 Farm 23,471 23,825
(1.) Multifamily debt refers to loans on structures of five or more
units.
(2.) Includes loans held by nondeposit trust companies but not loans
held by bank trust departments.
(3.) Includes savings banks and savings and loan associations.
(4.) FmHA-guaranteed securities sold to the Federal Financing Bank
were reallocated from FmHA mortgage pools to FmHA mortgage holdings
in 1986:Q4 because of accounting changes by the Farmers Home
Administration.
(5.) Outstanding principal balances of mortgage-backed securities
insured or guaranteed by the agency indicated.
(6.) Includes securitized home equity loans.
(7.) Other holders include mortgage companies, real estate investment
trusts, state and local credit agencies, state and local retirement
funds, noninsured pension funds, credit unions, and finance companies.
SOURCE. Based on data from various institutional and government
sources. Separation of nonfarm mortgage debt by type of property, if
not reported directly, and interpolations and extrapolations, when
required for some quarters, are estimated in part by the Federal
Reserve. Line 69 from Inside Mortgage Securities and other sources.
1.55 CONSUMER CREDIT (1)
Millions of dollars, amounts outstanding, end of period
Holder and type of credit 1999 2000 2001 (r)
Seasonally adjusted
1 Total 1,416,316 1,560,571 1,655,295
2 Revolving 597,669 666,544 692,395
3 Nonrevolving (2) 818,647 894,027 962,900
Not seasonally adjusted
4 Total 1,446,127 1,593,051 1,688,894
By major holder
5 Commercial banks 499,758 541,470 557,099
6 Finance companies 201,549 219,783 236,511
7 Credit unions 167,921 184,434 186,286
8 Savings institutions 61,527 64,557 68,028
9 Nonfinancial business 80,311 82,662 67,939
10 Pools of securitized
assets (3) 435,061 500,145 573,032
By major type of credit (4)
11 Revolving 621,914 692,955 719,524
12 Commercial banks 189,352 218,063 224,470
13 Finance companies 32,483 37,561 31,484
14 Credit unions 20,641 22,226 22,819
15 Savings institutions 15,838 16,560 16,979
16 Nonfinancial business 42,783 42,430 29,790
17 Pools of securitized
assets (3) 320,817 356,114 393,983
18 Nonrevolving 824,213 900,095 969,370
19 Commercial banks 310,406 323,407 332,629
20 Finance companies 169,066 182,221 205,027
21 Credit unions 147,280 162,208 163,467
22 Savings institutions 45,689 47,997 51,049
23 Nonfinancial business 37,528 40,232 38,148
24 Pools of securitized
assets (3) 114,244 144,031 179,049
2001
Holder and type of credit Sept. Oct. Nov.
Seasonally adjusted
1 Total 1,620,752 1,633,515 1,653,474
2 Revolving 691,122 690,749 698,049
3 Nonrevolving (2) 929,630 942,765 955,426
Not seasonally adjusted
4 Total 1,619,109 1,633,430 1,661,001
By major holder
5 Commercial banks 535,254 540,498 550,072
6 Finance companies 220,884 224,260 238,850 (r)
7 Credit unions 185,732 185,523 186,070
8 Savings institutions 68,535 68,364 68,199
9 Nonfinancial business 60,204 58,763 60,383
10 Pools of securitized
assets (3) 548,499 556,023 557,427 (r)
By major type of credit (4)
11 Revolving 686,173 684,685 697,677
12 Commercial banks 202,924 209,697 219,555
13 Finance companies 35,901 28,489 30,245
14 Credit unions 21,879 21,666 22,044
15 Savings institutions 16,915 16,936 16,957
16 Nonfinancial business 25,207 23,709 24,463
17 Pools of securitized
assets (3) 383,346 384,187 384,413
18 Nonrevolving 932,936 948,745 963,324
19 Commercial banks 332,330 330,800 330,517
20 Finance companies 184,983 195,771 208,605 (r)
21 Credit unions 163,853 163,857 164,026
22 Savings institutions 51,620 51,428 51,242
23 Nonfinancial business 34,997 35,054 35,921
24 Pools of securitized
assets (3) 165,153 171,836 173,014 (r)
2001 2002
Holder and type of credit Dec. (r) Jan. (r) Feb.
Seasonally adjusted
1 Total 1,655,295 1,662,312 1,669,391
2 Revolving 692,395 693,758 694,509
3 Nonrevolving (2) 962,900 968,555 974,882
Not seasonally adjusted
4 Total 1,688,894 1,675,362 1,666,625
By major holder
5 Commercial banks 557,099 556,714 550,875
6 Finance companies 236,511 230,180 233,404
7 Credit unions 186,286 184,836 183,287
8 Savings institutions 68,028 68,729 69,430
9 Nonfinancial business 67,939 63,148 58,974
10 Pools of securitized
assets (3) 573,032 571,755 570,656
By major type of credit (4)
11 Revolving 719,524 705,161 695,358
12 Commercial banks 224,470 218,099 215,987
13 Finance companies 31,484 29,932 29,168
14 Credit unions 22,819 22,051 21,656
15 Savings institutions 16,979 16,970 16,962
16 Nonfinancial business 29,790 26,280 23,016
17 Pools of securitized
assets (3) 393,983 391,830 388,569
18 Nonrevolving 969,370 970,201 971,267
19 Commercial banks 332,629 338,616 334,888
20 Finance companies 205,027 200,248 204,235
21 Credit unions 163,467 162,785 161,631
22 Savings institutions 51,049 51,759 52,468
23 Nonfinancial business 38,148 36,868 35,958
24 Pools of securitized
assets (3) 179,049 179,926 182,087
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals, excluding loans
secured by real estate. Data in this table also appear in the Board's
G.19 (421) monthly statistical release. For ordering address, see
inside front cover.
(2.) Comprises motor vehicle loans, mobile home loans, and all other
loans that are not included in revolving credit, such as loans for
education, boats, trailers, or vacations. These loans may be secured
or unsecured.
(3.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets
of the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT (1)
Percent per year except as noted
2001
Item 1999 2000 2001 Aug. Sept.
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.44 9.34 8.50 8.31 n.a.
2 24-month personal 13.39 13.90 13.22 13.25 n.a.
Credit card plan
3 All accounts 15.21 15.71 14.89 14.60 n.a.
4 Accounts assessed
interest 14.81 14.91 14.44 14.64 n.a.
Auto finance companies
5 New car 6.66 6.61 5.65 6.41 5.42
6 Used car 12.60 13.55 12.18 12.06 12.01
OTHER TERMS (3)
Maturity (months)
7 New car 52.7 54.9 55.1 57.7 57.2
8 Used car 55.9 57.0 57.5 57.6 57.6
Loan-to-value ratio
9 New car 92 92 91 91 92
10 Used car 99 99 100 100 101
Amount financed
(dollars)
11 New car 19,880 20,923 22,822 22,591 23,049
12 Used car 13,642 14,058 14,416 14,321 14,408
2001 2002
Item Oct. Nov. Dec. Jan. Feb.
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. 7.86 n.a. n.a. 7.50
2 24-month personal n.a. 12.62 n.a. n.a. 11.72
Credit card plan
3 All accounts n.a. 14.22 n.a. n.a. 13.65
4 Accounts assessed
interest n.a. 13.88 n.a. n.a. 12.98
Auto finance companies
5 New car 2.71 2.89 3.31 4.02 n.a.
6 Used car 11.41 10.96 10.89 10.84 n.a.
OTHER TERMS (3)
Maturity (months)
7 New car 53.7 51.0 48.6 48.8 56.4
8 Used car 57.2 56.7 56.5 57.3 57.8
Loan-to-value ratio
9 New car 94 92 91 90 89
10 Used car 100 100 100 100 100
Amount financed
(dollars)
11 New car 24,443 24,934 24,812 24,137 22,741
12 Used car 14,627 14,669 14,653 14,355 14,049
(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 1996 1997 1998 1999
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 733.7 804.7 1,046.9 1,100.6
By sector and instrument
2 Federal government 145.0 23.1 -52.6 -71.2
3 Treasury securities 146.6 23.2 -54.6 -71.0
4 Budget agency securities
and mortgages -1.6 -.1 2.0 -.2
5 Nonfederal 588.6 781.6 1,099.5 1,171.8
By instrument
6 Commercial paper -.9 13.7 24.4 37.4
7 Municipal securities and
loans 2.6 71.4 96.8 68.2
8 Corporate bonds 116.3 150.5 218.7 229.9
9 Bank loans n.e.c. 70.4 106.4 108.1 82.6
10 Other loans and advances 28.7 59.5 82.1 57.1
11 Mortgages 280.4 322.5 494.4 597.1
12 Home 245.7 258.3 388.7 435.0
13 Multifamily residential 9.4 7.5 23.5 40.5
14 Commercial 22.6 53.5 75.6 115.8
15 Farm 2.7 3.1 6.5 5.8
16 Consumer credit 91.3 57.5 75.0 99.5
By borrowing sector
17 Household 343.8 332.7 466.0 516.8
18 Nonfinancial business 251.6 392.8 553.2 602.6
19 Corporate 179.4 291.9 405.5 441.7
20 Nonfarm noncorporate 67.3 94.7 139.7 155.4
21 Farm 4.9 6.2 8.0 5.5
22 State and local government -6.8 56.1 80.3 52.3
23 Foreign net borrowing in
United States 88.4 71.8 43.4 27.9
24 Commercial paper 11.3 3.7 7.8 16.3
25 Bonds 67.0 61.4 34.9 16.8
26 Bank loans n.e.c. 9.1 8.5 6.7 .5
27 Other loans and advances 1.0 -1.8 -6.0 -5.7
28 Total domestic plus foreign 822.0 876.5 1,090.2 1,128.5
Financial sectors
29 Total net borrowing by
financial sectors 550.1 662.2 1,087.2 1,084.4
By instrument
30 Federal government-related 231.4 212.9 470.9 592.0
31 Government-sponsored
enterprise securities 90.4 98.4 278.3 318.2
32 Mortgage pool securities 141.0 114.6 192.6 273.8
33 Loans from U.S. government .0 .0 .0 .0
34 Private 318.7 449.3 616.3 492.5
35 Open market paper 92.2 166.7 161.0 176.2
36 Corporate bonds 178.1 218.9 310.1 218.2
37 Bank loans n.e.c. 12.6 13.3 30.1 -14.2
38 Other loans and advances 27.9 35.6 90.2 107.1
39 Mortgages 7.9 14.9 24.8 5.1
By borrowing sector
40 Commercial banking 13.0 46.1 72.9 67.2
41 Savings institutions 25.5 19.7 52.2 48.0
42 Credit unions .1 .1 .6 2.2
43 Life insurance companies 1.1 .2 .7 .7
44 Government-sponsored
enterprises 90.4 98.4 278.3 318.2
45 Federally related mortgage
pools 141.0 114.6 192.6 273.8
46 Issuers of asset-backed
securities (ABSs) 150.8 202.2 321.4 223.4
47 Finance companies 50.6 57.8 57.1 70.3
48 Mortgage companies 4.1 -4.6 1.6 .2
49 Real estate investment,
trusts (REITs) 11.9 39.6 62.7 6.3
50 Brokers and dealers -2.0 8.1 7.2 -17.2
51 Funding corporations 63.8 79.9 40.0 91.5
All sectors
52 Total net borrowing, all
sectors 1,372.1 1,538.7 2,177.4 2,212.9
53 Open market paper 102.6 184.1 193.1 229.9
54 U.S. government securities 376.4 236.0 418.3 520.7
55 Municipal securities 2.6 71.4 96.8 68.2
56 Corporate and foreign bonds 361.3 430.8 563.7 465.0
57 Bank loans n.e.c. 92.1 128.2 145.0 68.9
58 Other loans and advances 57.7 93.2 166.3 158.5
59 Mortgages 288.2 337.4 519.2 602.2
60 Consumer credit 91.3 57.5 75.0 99.5
Funds raised through mutual funds
and corporate equities
61 Total net issues 232.9 185.2 113.7 156.6
62 Corporate equities -4.7 -79.9 -165.8 -34.6
63 Nonfinancial corporations -69.5 -114.4 -267.0 -143.5
64 Foreign shares purchased
by U.S. residents 82.8 57.6 101.3 114.4
65 Financial corporations -18.1 -23.1 -.1 -5.6
66 Mutual fund shares 237.6 265.1 279.5 191.2
2000
Transaction category
or sector 2000 Q2 Q3 Q4
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 871.6 976.1 815.1 766.1
By sector and instrument
2 Federal government -295.9 -408.7 -226.2 -331.3
3 Treasury securities -294.9 -410.5 -223.8 -330.2
4 Budget agency securities
and mortgages -1.0 1.8 -2.4 -1.2
5 Nonfederal 1,167.4 1,384.8 1,041.4 1,097.5
By instrument
6 Commercial paper 48.1 110.4 56.1 -4.0
7 Municipal securities and
loans 35.3 30.1 31.0 60.1
8 Corporate bonds 171.1 153.8 168.8 175.6
9 Bank loans n.e.c. 103.1 166.5 47.0 59.3
10 Other loans and advances 101.5 124.2 16.5 125.2
11 Mortgages 569.4 655.9 568.2 550.5
12 Home 422.2 490.1 441.6 395.6
13 Multifamily residential 36.1 47.6 26.8 40.9
14 Commercial 104.6 108.1 93.3 112.1
15 Farm 6.5 10.1 6.5 2.0
16 Consumer credit 139.0 143.7 153.8 130.7
By borrowing sector
17 Household 554.6 625.6 579.9 508.8
18 Nonfinancial business 585.7 741.0 437.8 535.0
19 Corporate 429.1 546.7 301.5 388.0
20 Nonfarm noncorporate 145.7 184.5 129.1 134.2
21 Farm 10.9 9.7 7.2 12.8
22 State and local government 27.2 18.2 23.8 53.7
23 Foreign net borrowing in
United States 67.0 -7.9 88.6 66.8
24 Commercial paper 31.7 12.0 7.0 50.1
25 Bonds 25.2 -27.3 71.4 9.0
26 Bank loans n.e.c. 11.3 5.7 11.9 12.2
27 Other loans and advances -1.3 1.7 -1.7 -4.6
28 Total domestic plus foreign 938.5 968.1 903.8 832.9
Financial sectors
29 Total net borrowing by
financial sectors 815.6 897.1 794.0 963.1
By instrument
30 Federal government-related 433.5 381.1 514.8 613.6
31 Government-sponsored
enterprise securities 234.1 248.9 278.1 304.5
32 Mortgage pool securities 199.4 132.2 236.7 309.1
33 Loans from U.S. government .0 .0 .0 .0
34 Private 382.1 516.1 279.2 349.5
35 Open market paper 127.7 136.7 106.5 153.2
36 Corporate bonds 205.9 243.3 205.0 203.7
37 Bank loans n.e.c. -.3 6.9 -6.7 -4.4
38 Other loans and advances 42.5 119.2 -31.6 -4.8
39 Mortgages 6.2 10.0 6.0 1.8
By borrowing sector
40 Commercial banking 60.0 99.3 43.4 18.8
41 Savings institutions 27.3 69.0 -37.9 20.4
42 Credit unions .0 .9 1.1 1.0
43 Life insurance companies -.7 -1.1 -.3 -.7
44 Government-sponsored
enterprises 234.1 248.9 278.1 304.5
45 Federally related mortgage
pools 199.4 132.2 236.7 309.1
46 Issuers of asset-backed
securities (ABSs) 196.3 146.0 156.2 307.9
47 Finance companies 81.2 139.4 98.1 26.1
48 Mortgage companies .1 2.7 -.3 1.0
49 Real estate investment,
trusts (REITs) 2.7 9.8 -2.4 -8.1
50 Brokers and dealers 15.6 -.7 25.4 -6.6
51 Funding corporations -.4 50.6 -4.2 -10.4
All sectors
52 Total net borrowing, all
sectors 1,754.1 1,865.3 1,697.8 1,796.0
53 Open market paper 207.5 259.1 169.7 199.3
54 U.S. government securities 137.6 -27.6 288.6 282.2
55 Municipal securities 35.3 30.1 31.0 60.1
56 Corporate and foreign bonds 402.2 369.8 445.2 388.3
57 Bank loans n.e.c. 114.1 179.2 52.2 67.1
58 Other loans and advances 142.7 245.1 -16.8 115.8
59 Mortgages 575.6 665.9 574.2 552.4
60 Consumer credit 139.0 143.7 153.8 130.7
Funds raised through mutual funds
and corporate equities
61 Total net issues 189.7 181.0 221.1 -38.7
62 Corporate equities -45.3 -22.7 -54.0 -188.2
63 Nonfinancial corporations -159.7 -245.7 -87.8 -367.5
64 Foreign shares purchased
by U.S. residents 99.7 185.9 61.1 89.4
65 Financial corporations 14.7 37.2 -27.3 89.9
66 Mutual fund shares 235.0 203.6 275.1 149.5
2001
Transaction category
or sector Q1 Q2 Q3 Q4
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 991.9 981.3 1,297.4 1,141.4
By sector and instrument
2 Federal government -4.3 -256.0 255.7 -17.6
3 Treasury securities -2.1 -257.1 256.0 -16.9
4 Budget agency securities
and mortgages -2.2 1.1 -.4 -.7
5 Nonfederal 996.2 1,237.3 1,041.7 1,159.0
By instrument
6 Commercial paper -199.2 -133.4 -66.1 45.5
7 Municipal securities and
loans 110.7 112.4 56.0 203.2
8 Corporate bonds 399.5 419.5 187.9 305.9
9 Bank loans n.e.c. -5.9 -153.2 -10.8 -180.2
10 Other loans and advances -12.6 118.2 81.9 -110.7
11 Mortgages 559.8 798.2 768.3 758.3
12 Home 434.0 613.1 555.8 528.3
13 Multifamily residential 35.4 41.2 55.6 54.0
14 Commercial 86.2 131.6 150.1 169.8
15 Farm 4.2 12.4 6.8 6.1
16 Consumer credit 144.0 75.5 24.4 137.0
By borrowing sector
17 Household 538.3 663.4 629.7 609.9
18 Nonfinancial business 354.1 465.3 369.0 377.5
19 Corporate 226.7 324.9 257.1 262.7
20 Nonfarm noncorporate 121.3 130.6 108.6 104.8
21 Farm 6.0 9.8 3.4 10.0
22 State and local government 103.9 108.7 43.0 171.5
23 Foreign net borrowing in
United States -8.0 -52.8 -102.8 -4.1
24 Commercial paper -26.5 -6.7 -27.6 3.9
25 Bonds 17.1 -15.9 -78.8 6.1
26 Bank loans n.e.c. 13.0 -31.0 4.4 -16.3
27 Other loans and advances -11.6 .7 -.8 2.1
28 Total domestic plus foreign 983.9 928.4 1,194.6 1,137.3
Financial sectors
29 Total net borrowing by
financial sectors 864.2 786.1 1,084.8 928.7
By instrument
30 Federal government-related 432.6 665.2 830.2 584.0
31 Government-sponsored
enterprise securities 262.3 268.3 326.2 308.8
32 Mortgage pool securities 170.3 396.9 504.0 275.2
33 Loans from U.S. government .0 .0 .0 .0
34 Private 431.7 120.9 254.6 344.7
35 Open market paper -134.6 -85.4 -85.6 58.2
36 Corporate bonds 438.9 186.8 291.4 288.1
37 Bank loans n.e.c. 27.1 14.3 -7.3 12.2
38 Other loans and advances 107.8 -11.0 58.0 -15.3
39 Mortgages -7.5 16.2 -1.9 1.5
By borrowing sector
40 Commercial banking 148.3 -15.8 59.0 25.6
41 Savings institutions 62.5 16.1 19.2 -72.5
42 Credit unions -.6 .8 1.5 4.4
43 Life insurance companies -2.4 .1 3.5 1.4
44 Government-sponsored
enterprises 262.3 268.3 326.2 308.8
45 Federally related mortgage
pools 170.3 396.9 504.0 275.2
46 Issuers of asset-backed
securities (ABSs) 295.8 172.3 289.1 364.4
47 Finance companies -72.8 64.1 21.5 -40.6
48 Mortgage companies .7 .6 .8 .6
49 Real estate investment,
trusts (REITs) -6.1 10.5 -2.4 9.1
50 Brokers and dealers -23.9 35.7 12.6 -19.0
51 Funding corporations 30.1 -163.6 -150.2 71.3
All sectors
52 Total net borrowing, all
sectors 1,848.1 1,714.6 2,279.5 2,065.9
53 Open market paper -360.2 -225.5 -179.3 107.6
54 U.S. government securities 428.2 409.2 1,085.9 566.4
55 Municipal securities 110.7 112.4 56.0 203.2
56 Corporate and foreign bonds 855.5 590.5 400.5 600.1
57 Bank loans n.e.c. 34.1 -170.0 -13.6 -184.3
58 Other loans and advances 83.6 107.9 139.2 -123.8
59 Mortgages 552.2 814.4 766.4 759.8
60 Consumer credit 144.0 75.5 24.4 137.0
Funds raised through mutual funds
and corporate equities
61 Total net issues 234.4 415.0 83.4 344.5
62 Corporate equities 137.6 132.1 -79.0 80.2
63 Nonfinancial corporations -25.3 -71.5 -120.8 -5.1
64 Foreign shares purchased
by U.S. residents 109.2 220.3 23.0 36.9
65 Financial corporations 53.7 -16.7 18.8 48.5
66 Mutual fund shares 96.8 283.0 162.5 264.3
(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 1996 1997 1998 1999
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in credit
markets 1,372.1 1,538.7 2,177.4 2,212.9
2 Domestic nonfederal non-
financial sectors 74.0 -22.2 177.2 216.2
3 Household 113.7 -12.6 40.5 168.5
4 Nonfinancial corporate
business -10.2 -12.7 -16.0 -2.8
5 Nonfarm noncorporate
business 4.2 3.0 18.1 7.1
6 State and local
governments -33.7 .1 134.5 43.4
7 Federal government -7.2 5.1 13.5 5.8
8 Rest of the world 414.4 311.3 254.2 208.8
9 Financial sectors 890.9 1,244.5 1,732.5 1,782.0
10 Monetary authority 12.3 38.3 21.1 25.7
11 Commercial banking 187.5 324.3 305.2 308.2
12 U.S.-chartered banks 119.6 274.9 312.0 317.6
13 Foreign banking offices
in United States 63.3 40.2 -11.9 -20.1
14 Bank holding companies 3.9 5.4 -.9 6.2
15 Banks in U.S.-affiliated
areas .7 3.7 6.0 4.4
16 Savings institutions 19.9 -4.7 36.1 68.6
17 Credit unions 25.5 16.8 19.0 27.5
18 Bank personal trusts and
estates -7.7 -25.0 -12.8 27.8
19 Life insurance companies 69.6 104.8 76.9 53.5
20 Other insurance companies 22.5 25.2 5.8 -3.0
21 Private pension funds -4.1 47.6 -22.8 25.4
22 State and local government
retirement funds 35.8 67.1 72.1 46.9
23 Money market mutual funds 88.8 87.5 244.0 182.0
24 Mutual funds 48.9 80.9 127.3 48.4
25 Closed-end funds 4.6 -2.6 5.5 7.4
26 Government-sponsored
enterprises 97.4 106.6 314.6 291.7
27 Federally related mortgage
pools 141.0 114.6 192.6 273.8
28 Asset-backed securities
issuers (ABSs) 120.5 163.8 281.7 205.2
29 Finance companies 18.9 23.1 77.3 97.0
30 Mortgage companies 8.2 -9.1 3.2 .3
31 Real estate investment
trusts (REITs) 4.4 20.2 -5.1 -2.6
32 Brokers and dealers -15.7 14.9 6.8 -34.7
33 Funding corporations 12.6 50.4 -15.8 133.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,372.1 1,538.7 2,177.4 2,212.9
Other financial sources
35 Official foreign exchange -6.3 .7 6.6 -8.7
36 Special drawing rights
certificates -.5 -.5 .0 -3.0
37 Treasury currency .5 .5 .6 1.0
38 Foreign deposits 85.9 107.7 6.5 61.0
39 Net interbank transactions -51.6 -19.7 -32.3 18.4
40 Checkable deposits and
currency 15.7 41.2 47.4 151.4
41 Small time and savings
deposits 97.2 97.1 152.4 44.7
42 Large time deposits 114.0 122.5 92.1 130.6
43 Money market fund shares 145.4 155.9 287.2 249.1
44 Security repurchase
agreements 41.4 120.9 91.3 169.1
45 Corporate equities -4.7 -79.9 -165.8 -34.6
46 Mutual fund shares 237.6 265.1 279.5 191.2
47 Trade payables 123.3 139.7 109.2 222.3
48 Security credit 52.4 111.0 103.3 104.3
49 Life insurance reserves 44.5 59.3 48.0 50.8
50 Pension fund reserves 148.3 201.4 227.6 196.1
51 Taxes payable 19.5 22.3 21.3 22.3
52 Investment in bank personal
trusts -5.3 -49.9 -41.8 -6.5
53 Noncorporate proprietors'
equity 5.8 -40.2 -52.3 -15.5
54 Miscellaneous 526.1 493.6 949.1 719.3
55 Total financial sources 2,961.4 3,287.5 4,307.3 4,476.6
Liabilities not identified
as assets (-)
56 Treasury currency -.4 -.2 -.1 -.7
57 Foreign deposits 59.4 106.2 -8.5 45.8
58 Net interbank liabilities -3.3 -19.9 3.4 3.5
59 Security repurchase
agreements 2.4 63.2 57.7 36.1
60 Taxes payable 23.1 28.0 19.7 6.5
61 Miscellaneous -184.5 -239.6 -154.6 -420.0
Floats not included in
assets (-)
62 Federal government checkable
deposits .5 -2.7 2.6 -7.4
63 Other checkable deposits -4.0 -3.9 -3.1 -.8
64 Trade credit -25.4 -29.2 -51.3 42.9
65 Total identified to sectors
as assets 3,093.9 3,385.5 4,441.6 4,770.7
2000
Transaction category
or sector 2000 Q2 Q3 Q4
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in credit
markets 1,754.1 1,865.3 1,697.8 1,796.0
2 Domestic nonfederal non-
financial sectors -154.9 111.8 -250.5 -232.9
3 Household -174.6 9.5 -216.8 209.7
4 Nonfinancial corporate
business 12.6 62.0 -13.3 -32.6
5 Nonfarm noncorporate
business -2.1 .4 -4.0 -2.7
6 State and local
governments 9.2 39.9 -16.4 12.1
7 Federal government 7.3 7.7 4.5 10.6
8 Rest of the world 279.3 197.9 216.2 387.8
9 Financial sectors 1,622.3 1,547.8 1,727.6 1,630.5
10 Monetary authority 33.7 -5.4 39.1 -.9
11 Commercial banking 358.4 497.4 363.2 157.0
12 U.S.-chartered banks 339.8 510.9 324.8 75.3
13 Foreign banking offices
in United States 24.0 -22.3 32.8 81.1
14 Bank holding companies -12.2 3.5 -6.7 -3.2
15 Banks in U.S.-affiliated
areas 6.7 5.4 12.3 3.8
16 Savings institutions 56.5 65.0 62.7 42.5
17 Credit unions 30.5 31.6 21.2 33.6
18 Bank personal trusts and
estates 17.1 13.8 17.6 18.1
19 Life insurance companies 57.9 52.9 74.8 38.8
20 Other insurance companies -8.7 -18.1 6.2 -11.7
21 Private pension funds 39.9 20.6 56.8 26.1
22 State and local government
retirement funds 54.6 31.5 37.6 86.1
23 Money market mutual funds 143.0 -118.2 256.1 272.7
24 Mutual funds 21.0 39.4 50.2 57.8
25 Closed-end funds -8.4 -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 250.9 250.9 228.6 318.8
27 Federally related mortgage
pools 199.4 132.2 236.7 309.1
28 Asset-backed securities
issuers (ABSs) 166.4 111.4 120.9 278.9
29 Finance companies 108.0 147.6 102.8 36.2
30 Mortgage companies .2 5.5 -.5 2.0
31 Real estate investment
trusts (REITs) -6.3 -2.5 -3.6 -2.8
32 Brokers and dealers 68.9 89.8 152.1 -69.0
33 Funding corporations 39.4 210.9 -86.5 45.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,754.1 1,865.3 1,697.8 1,796.0
Other financial sources
35 Official foreign exchange -.4 -8.8 .7 4.9
36 Special drawing rights
certificates -4.0 -8.0 -4.0 -4.0
37 Treasury currency 2.4 3.2 4.2 .0
38 Foreign deposits 120.8 3.4 -40.8 207.4
39 Net interbank transactions 13.6 275.4 24.4 18.0
40 Checkable deposits and
currency -71.5 -33.8 5.0 -50.2
41 Small time and savings
deposits 190.7 123.0 224.5 310.8
42 Large time deposits 118.4 101.2 152.9 65.2
43 Money market fund shares 233.3 71.5 250.9 371.0
44 Security repurchase
agreements 110.7 155.1 277.1 -265.4
45 Corporate equities -45.3 -22.7 -54.0 -188.2
46 Mutual fund shares 235.0 203.6 275.1 149.5
47 Trade payables 166.8 212.9 138.8 121.8
48 Security credit 146.1 -95.3 97.5 74.4
49 Life insurance reserves 50.2 45.6 53.0 47.3
50 Pension fund reserves 217.2 266.2 220.7 151.8
51 Taxes payable 21.7 26.5 4.1 25.4
52 Investment in bank personal
trusts -29.7 -33.1 -29.2 -28.0
53 Noncorporate proprietors'
equity 12.8 13.8 32.2 11.6
54 Miscellaneous 1,016.6 893.6 1,478.3 713.5
55 Total financial sources 4,259.5 4,058.7 4,809.2 3,532.9
Liabilities not identified
as assets (-)
56 Treasury currency -1.2 -.7 .9 -3.3
57 Foreign deposits 70.9 -82.2 -90.8 193.4
58 Net interbank liabilities 17.4 5.4 -12.1 51.1
59 Security repurchase
agreements 115.8 58.2 170.3 -300.3
60 Taxes payable 14.1 4.8 -1.8 44.1
61 Miscellaneous -284.8 -394.3 10.6 -312.9
Floats not included in
assets (-)
62 Federal government checkable
deposits 9.0 16.3 3.0 -2.1
63 Other checkable deposits 1.7 1.4 1.9 2.4
64 Trade credit -29.5 -34.9 -10.6 21.5
65 Total identified to sectors
as assets 4,346.2 4,484.7 4,737.7 3,839.1
2001
Transaction category
or sector Q1 Q2 Q3 Q4
NET LENDING IN CREDIT
MARKETS (2)
1 Total net lending in credit
markets 1,848.1 1,714.6 2,279.5 2,065.9
2 Domestic nonfederal non-
financial sectors -198.8 -242.6 -36.9 -214.0
3 Household -210.8 -224.0 -1.1 -261.4
4 Nonfinancial corporate
business -24.7 11.3 -19.1 -2.0
5 Nonfarm noncorporate
business -4.8 -5.2 -6.2 -7.2
6 State and local
governments 41.5 -24.8 -10.4 56.6
7 Federal government 4.6 9.4 3.6 12.0
8 Rest of the world 410.6 349.2 387.5 556.8
9 Financial sectors 1,631.7 1,598.6 1,925.3 1,711.1
10 Monetary authority 53.7 26.4 8.7 70.5
11 Commercial banking 152.8 133.9 234.8 284.5
12 U.S.-chartered banks 107.9 179.7 215.4 246.5
13 Foreign banking offices
in United States 41.3 -48.6 16.5 6.2
14 Bank holding companies 7.3 -2.8 -1.4 12.2
15 Banks in U.S.-affiliated
areas -3.6 5.6 4.2 19.6
16 Savings institutions 52.5 57.3 -8.3 60.1
17 Credit unions 23.2 7.6 61.7 61.8
18 Bank personal trusts and
estates 10.7 13.4 8.8 8.6
19 Life insurance companies 95.3 124.9 179.3 129.8
20 Other insurance companies 2.1 .1 5.1 12.9
21 Private pension funds 23.1 25.7 -16.7 39.9
22 State and local government
retirement funds -70.7 77.0 -74.2 7.3
23 Money market mutual funds 326.7 166.2 379.1 112.2
24 Mutual funds 78.1 165.7 103.7 156.8
25 Closed-end funds -8.4 -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 327.8 316.2 265.9 275.1
27 Federally related mortgage
pools 170.3 396.9 504.0 275.2
28 Asset-backed securities
issuers (ABSs) 269.8 150.0 262.3 342.1
29 Finance companies -.9 126.7 -42.0 -17.9
30 Mortgage companies 1.4 1.1 1.7 1.2
31 Real estate investment
trusts (REITs) 4.0 1.1 7.8 29.0
32 Brokers and dealers 289.5 35.4 236.0 -170.4
33 Funding corporations -169.5 -218.6 -184.0 40.9
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,848.1 1,714.6 2,279.5 2,065.9
Other financial sources
35 Official foreign exchange -1.5 4.7 19.1 -3.4
36 Special drawing rights
certificates .0 .0 .0 .0
37 Treasury currency -1.1 1.1 .0 .0
38 Foreign deposits 235.5 -170.2 83.5 100.0
39 Net interbank transactions -181.0 19.0 20.2 188.6
40 Checkable deposits and
currency 186.9 90.7 235.0 287.5
41 Small time and savings
deposits 288.3 194.2 229.1 328.4
42 Large time deposits 130.6 51.9 16.3 56.7
43 Money market fund shares 621.5 322.5 367.7 402.7
44 Security repurchase
agreements -109.5 187.9 242.3 -196.3
45 Corporate equities 137.6 132.1 -79.0 80.2
46 Mutual fund shares 96.8 283.0 162.5 264.3
47 Trade payables 25.1 -96.2 -13.4 -20.6
48 Security credit -140.9 -28.5 547.2 -412.2
49 Life insurance reserves 52.7 53.2 80.2 69.2
50 Pension fund reserves 257.2 165.6 205.4 189.9
51 Taxes payable 6.9 17.1 95.4 -66.6
52 Investment in bank personal
trusts -26.1 -22.7 -28.2 -28.2
53 Noncorporate proprietors'
equity 5.2 29.5 -9.7 18.7
54 Miscellaneous 485.4 890.3 940.8 717.1
55 Total financial sources 3,917.6 3,839.6 5,393.8 4,042.0
Liabilities not identified
as assets (-)
56 Treasury currency -3.6 -.5 -1.4 -.7
57 Foreign deposits 180.8 -150.2 78.8 46.4
58 Net interbank liabilities 16.7 13.6 7.2 33.3
59 Security repurchase
agreements -265.7 189.5 25.7 -210.5
60 Taxes payable 4.9 -12.0 -8.0 9.0
61 Miscellaneous -181.3 -526.8 125.0 -212.9
Floats not included in
assets (-)
62 Federal government checkable
deposits 66.8 -.1 7.3 -58.5
63 Other checkable deposits 3.8 3.9 5.1 5.5
64 Trade credit 27.9 -12.7 -23.1 34.4
65 Total identified to sectors
as assets 4,067.2 4,335.1 5,177.2 4,395.9
(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 1997 1998 1999
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 15,244.3 16,291.1 17,426.4
By sector and instrument
2 Federal government 3,804.9 3,752.2 3,681.0
3 Treasury securities 3,778.3 3,723.7 3,652.8
4 Budget agency securities and
mortgages 26.5 28.5 28.3
5 Nonfederal 11,439.4 12,538.9 13,745.3
By instrument
6 Commercial paper 168.6 193.0 230.3
7 Municipal securities and loans 1,367.5 1,464.3 1,532.5
8 Corporate bonds 1,610.9 1,829.6 2,059.5
9 Bank loans n.e.c. 1,040.4 1,148.5 1,231.2
10 Other loans and advances 825.1 907.2 964.5
11 Mortgages 5,155.4 5,649.8 6,281.2
12 Home 3,978.3 4,367.0 4,802.0
13 Multifamily residential 285.7 309.2 350.0
14 Commercial 801.4 877.0 1,026.9
15 Farm 90.0 96.6 102.3
16 Consumer credit 1,271.6 1,346.6 1,446.1
By borrowing sector
17 Households 5,556.9 6,022.9 6,540.1
18 Nonfinancial business 4,763.0 5,316.2 5,953.2
19 Corporate 3,383.1 3,788.6 4,264.7
20 Nonfarm noncorporate 1,224.0 1,363.7 1,519.1
21 Farm 155.9 163.9 169.4
22 State and local government 1,119.5 1,199.8 1,252.1
23 Foreign credit market debt held in
United States 608.0 651.5 679.6
24 Commercial paper 65.1 72.9 89.2
25 Bonds 427.7 462.6 479.4
26 Bank loans n.e.c. 52.1 58.9 59.4
27 Other loans and advances 63.0 57.2 51.7
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 15,852.3 16,942.7 18,106.0
Financial sectors
29 Total credit market debt owed by
financial sectors 5,458.0 6,545.2 7,629.6
By instrument
30 Federal government-related 2,821.1 3,292.0 3,884.0
31 Government-sponsored enterprise
securities 995.3 1,273.6 1,591.7
32 Mortgage pool securities 1,825.8 2,018.4 2,292.2
33 Loans from U.S. government .0 .0 .0
34 Private 2,636.9 3,253.2 3,745.6
35 Open market paper 745.7 906.7 1,082.9
36 Corporate bonds 1,568.6 1,878.7 2,096.9
37 Bank loans n.e.c. 77.3 107.5 93.2
38 Other loans and advances 198.5 288.7 395.8
39 Mortgages 46.8 71.6 76.7
By borrowing sector
40 Commercial banks 140.6 188.6 230.0
41 Bank holding companies 168.6 193.5 219.3
42 Savings institutions 160.3 212.4 260.4
43 Credit unions .6 1.1 3.4
44 Life insurance companies 1.8 2.5 3.2
45 Government-sponsored enterprises 995.3 1,273.6 1,591.7
46 Federally related mortgage pools 1,825.8 2,018.4 2,292.2
47 Issuers of asset-backed securities
(ABSs) 1,076.6 1,398.0 1,621.4
48 Brokers and dealers 35.3 42.5 25.3
49 Finance companies 568.3 625.5 695.7
50 Mortgage companies 16.0 17.7 17.8
51 Real estate investment trusts
(REITs) 96.1 158.8 165.1
52 Funding corporations 372.6 412.6 504.0
All sectors
53 Total credit market debt, domestic
and foreign 21,310.3 23,487.8 25,735.6
54 Open market paper 979.4 1,172.6 1,402.4
55 U.S. government securities 6,626.0 7,044.3 7,565.0
56 Municipal securities 1,367.5 1,464.3 1,532.5
57 Corporate and foreign bonds 3,607.2 4,170.8 4,635.8
58 Bank loans n.e.c. 1,169.8 1,314.9 1,383.8
59 Other loans and advances 1,086.6 1,253.0 1,412.0
60 Mortgages 5,202.2 5,721.4 6,357.9
61 Consumer credit 1,271.6 1,346.6 1,446.1
2000
Transaction category or sector 2000 Q2 Q3
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 18,317.0 17,837.0 18,034.7
By sector and instrument
2 Federal government 3,385.2 3,464.0 3,410.2
3 Treasury securities 3,357.8 3,435.7 3,382.6
4 Budget agency securities and
mortgages 27.3 28.2 27.6
5 Nonfederal 14,931.9 14,373.0 14,624.5
By instrument
6 Commercial paper 278.4 296.8 307.0
7 Municipal securities and loans 1,567.8 1,551.6 1,550.3
8 Corporate bonds 2,230.6 2,144.5 2,186.7
9 Bank loans n.e.c. 1,334.2 1,306.9 1,311.3
10 Other loans and advances 1,077.1 1,037.2 1,039.5
11 Mortgages 6,850.6 6,559.6 6,710.3
12 Home 5,224.2 5,003.5 5,122.6
13 Multifamily residential 386.2 369.2 375.9
14 Commercial 1,131.4 1,080.1 1,103.4
15 Farm 108.8 106.8 108.3
16 Consumer credit 1,593.1 1,476.5 1,519.6
By borrowing sector
17 Households 7,113.7 6,771.3 6,937.2
18 Nonfinancial business 6,538.8 6,336.1 6,424.3
19 Corporate 4,693.8 4,560.8 4,616.0
20 Nonfarm noncorporate 1,664.8 1,599.1 1,630.3
21 Farm 180.2 176.2 177.9
22 State and local government 1,279.3 1,265.7 1,263.1
23 Foreign credit market debt held in
United States 746.7 702.5 731.0
24 Commercial paper 120.9 101.2 109.8
25 Bonds 504.6 484.5 502.4
26 Bank loans n.e.c. 70.7 64.7 67.7
27 Other loans and advances 50.5 52.1 51.2
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 19,063.7 18,539.5 18,765.7
Financial sectors
29 Total credit market debt owed by
financial sectors 8,457.1 7,993.5 8,190.8
By instrument
30 Federal government-related 4,317.4 4,035.3 4,164.0
31 Government-sponsored enterprise
securities 1,825.8 1,680.2 1,749.7
32 Mortgage pool securities 2,491.6 2,355.2 2,414.3
33 Loans from U.S. government .0 .0 .0
34 Private 4,139.7 3,958.2 4,026.7
35 Open market paper 1,210.7 1,135.2 1,151.6
36 Corporate bonds 2,314.8 2,212.0 2,269.7
37 Bank loans n.e.c. 93.0 93.1 92.8
38 Other loans and advances 438.3 436.9 430.2
39 Mortgages 82.9 81.0 82.5
By borrowing sector
40 Commercial banks 266.7 265.4 265.2
41 Bank holding companies 242.5 229.3 236.9
42 Savings institutions 287.7 280.7 276.0
43 Credit unions 3.4 2.9 3.1
44 Life insurance companies 2.5 2.7 2.7
45 Government-sponsored enterprises 1,825.8 1,680.2 1,749.7
46 Federally related mortgage pools 2,491.6 2,355.2 2,414.3
47 Issuers of asset-backed securities
(ABSs) 1,829.6 1,697.0 1,742.3
48 Brokers and dealers 40.9 36.2 42.6
49 Finance companies 776.9 740.8 761.8
50 Mortgage companies 17.9 17.8 17.7
51 Real estate investment trusts
(REITs) 167.8 170.4 169.8
52 Funding corporations 503.7 515.0 508.7
All sectors
53 Total credit market debt, domestic
and foreign 27,520.8 26,533.0 26,956.5
54 Open market paper 1,610.0 1,533.3 1,568.3
55 U.S. government securities 7,702.6 7,499.3 7,574.2
56 Municipal securities 1,567.8 1,551.6 1,550.3
57 Corporate and foreign bonds 5,050.0 4,841.0 4,958.7
58 Bank loans n.e.c. 1,497.9 1,464.6 1,471.7
59 Other loans and advances 1,565.9 1,526.2 1,520.9
60 Mortgages 6,933.6 6,640.6 6,792.8
61 Consumer credit 1,593.1 1,476.5 1,519.6
2000 2001
Transaction category or sector Q4 Q1 Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 18,317.0 18,557.9 18,729.4
By sector and instrument
2 Federal government 3,385.2 3,408.8 3,251.4
3 Treasury securities 3,357.8 3,382.1 3,224.4
4 Budget agency securities and
mortgages 27.3 26.8 27.0
5 Nonfederal 14,931.9 15,149.1 15,477.9
By instrument
6 Commercial paper 278.4 253.2 223.3
7 Municipal securities and loans 1,567.8 1,597.5 1,629.8
8 Corporate bonds 2,230.6 2,330.4 2,435.3
9 Bank loans n.e.c. 1,334.2 1,323.9 1,292.9
10 Other loans and advances 1,077.1 1,083.2 1,110.6
11 Mortgages 6,850.6 6,975.6 7,177.8
12 Home 5,224.2 5,317.6 5,473.6
13 Multifamily residential 386.2 395.0 405.3
14 Commercial 1,131.4 1,153.0 1,185.9
15 Farm 108.8 109.9 113.1
16 Consumer credit 1,593.1 1,585.3 1,608.1
By borrowing sector
17 Households 7,113.7 7,184.5 7,358.6
18 Nonfinancial business 6,538.8 6,657.1 6,781.4
19 Corporate 4,693.8 4,782.0 4,868.4
20 Nonfarm noncorporate 1,664.8 1,695.5 1,727.9
21 Farm 180.2 179.7 185.2
22 State and local government 1,279.3 1,307.5 1,337.8
23 Foreign credit market debt held in
United States 746.7 743.4 729.2
24 Commercial paper 120.9 112.8 110.1
25 Bonds 504.6 508.9 504.9
26 Bank loans n.e.c. 70.7 73.9 66.2
27 Other loans and advances 50.5 47.7 47.9
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 19,063.7 19,301.3 19,458.5
Financial sectors
29 Total credit market debt owed by
financial sectors 8,457.1 8,657.3 8,853.8
By instrument
30 Federal government-related 4,317.4 4,422.9 4,589.2
31 Government-sponsored enterprise
securities 1,825.8 1,888.7 1,955.8
32 Mortgage pool securities 2,491.6 2,534.2 2,633.4
33 Loans from U.S. government .0 .0 .0
34 Private 4,139.7 4,234.4 4,264.6
35 Open market paper 1,210.7 1,180.8 1,144.5
36 Corporate bonds 2,314.8 2,424.3 2,483.9
37 Bank loans n.e.c. 93.0 97.3 100.4
38 Other loans and advances 438.3 450.9 450.7
39 Mortgages 82.9 81.1 85.1
By borrowing sector
40 Commercial banks 266.7 273.8 274.7
41 Bank holding companies 242.5 266.5 269.0
42 Savings institutions 287.7 295.1 294.4
43 Credit unions 3.4 3.2 3.5
44 Life insurance companies 2.5 1.9 1.9
45 Government-sponsored enterprises 1,825.8 1,888.7 1,955.8
46 Federally related mortgage pools 2,491.6 2,534.2 2,633.4
47 Issuers of asset-backed securities
(ABSs) 1,829.6 1,893.7 1,942.4
48 Brokers and dealers 40.9 35.0 43.9
49 Finance companies 776.9 756.2 769.0
50 Mortgage companies 17.9 18.1 18.2
51 Real estate investment trusts
(REITs) 167.8 166.2 168.9
52 Funding corporations 503.7 524.7 478.6
All sectors
53 Total credit market debt, domestic
and foreign 27,520.8 27,958.6 28,312.4
54 Open market paper 1,610.0 1,546.8 1,477.9
55 U.S. government securities 7,702.6 7,831.7 7,840.6
56 Municipal securities 1,567.8 1,597.5 1,629.8
57 Corporate and foreign bonds 5,050.0 5,263.7 5,424.2
58 Bank loans n.e.c. 1,497.9 1,495.1 1,459.5
59 Other loans and advances 1,565.9 1,581.8 1,609.2
60 Mortgages 6,933.6 7,056.6 7,263.0
61 Consumer credit 1,593.1 1,585.3 1,608.1
2001
Transaction category or sector Q3 Q4
Nonfinancial
sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 19,036.4 19,420.6
By sector and instrument
2 Federal government 3,320.1 3,379.6
3 Treasury securities 3,293.1 3,352.8
4 Budget agency securities and
mortgages 27.0 26.8
5 Nonfederal 15,716.3 16,041.0
By instrument
6 Commercial paper 201.3 190.1
7 Municipal securities and loans 1,635.3 1,688.4
8 Corporate bonds 2,482.3 2,558.8
9 Bank loans n.e.c. 1,282.6 1,247.3
10 Other loans and advances 1,116.8 1,096.4
11 Mortgages 7,378.9 7,571.8
12 Home 5,621.6 5,757.0
13 Multifamily residential 419.2 432.7
14 Commercial 1,223.4 1,265.9
15 Farm 114.7 116.2
16 Consumer credit 1,619.1 1,688.3
By borrowing sector
17 Households 7,526.3 7,724.1
18 Nonfinancial business 6,849.4 6,930.9
19 Corporate 4,909.6 4,962.2
20 Nonfarm noncorporate 1,753.9 1,781.1
21 Farm 185.8 187.5
22 State and local government 1,340.6 1,386.1
23 Foreign credit market debt held in
United States 706.1 704.8
24 Commercial paper 106.3 106.7
25 Bonds 485.2 486.8
26 Bank loans n.e.c. 67.3 63.2
27 Other loans and advances 47.3 48.1
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 19,742.5 20,125.3
Financial sectors
29 Total credit market debt owed by
financial sectors 9,118.3 9,370.4
By instrument
30 Federal government-related 4,796.8 4,942.8
31 Government-sponsored enterprise
securities 2,037.4 2,114.5
32 Mortgage pool securities 2,759.4 2,828.2
33 Loans from U.S. government .0 .0
34 Private 4,321.5 4,427.7
35 Open market paper 1,110.2 1,148.8
36 Corporate bonds 2,559.2 2,616.1
37 Bank loans n.e.c. 100.2 104.5
38 Other loans and advances 467.2 473.2
39 Mortgages 84.6 85.0
By borrowing sector
40 Commercial banks 281.4 297.1
41 Bank holding companies 272.7 266.4
42 Savings institutions 305.6 294.0
43 Credit unions 3.8 4.9
44 Life insurance companies 2.8 3.1
45 Government-sponsored enterprises 2,037.4 2,114.5
46 Federally related mortgage pools 2,759.4 2,828.2
47 Issuers of asset-backed securities
(ABSs) 2,016.7 2,110.0
48 Brokers and dealers 47.1 42.3
49 Finance companies 771.2 770.0
50 Mortgage companies 18.5 18.6
51 Real estate investment trusts
(REITs) 168.3 170.5
52 Funding corporations 433.6 450.6
All sectors
53 Total credit market debt, domestic
and foreign 28,860.8 29,495.8
54 Open market paper 1,417.8 1,445.6
55 U.S. government securities 8,116.8 8,322.4
56 Municipal securities 1,635.3 1,688.4
57 Corporate and foreign bonds 5,526.7 5,661.6
58 Bank loans n.e.c. 1,450.2 1,415.1
59 Other loans and advances 1,631.3 1,617.6
60 Mortgages 7,463.5 7,656.8
61 Consumer credit 1,619.1 1,688.3
(1.) Data in this table appear in the Board's Z.1 (780) quarterly
statistical release, tables L.2 through L.4. For ordering address,
see inside front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction category or sector 1997 1998 1999
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 21,310.3 23,487.8 25,735.6
2 Domestic nonfederal nonfinancial
sectors 2,945.7 3,094.6 3,380.9
3 Household 2,030.4 2,044.5 2,281.3
4 Nonfinancial corporate
business 257.5 241.5 238.7
5 Nonfarm noncorporate business 52.7 69.1 78.0
6 State and local governments 605.0 739.4 782.8
7 Federal government 205.4 219.1 258.0
8 Rest of the world 2,257.3 2,539.8 2,676.2
9 Financial sectors 15,901.8 17,634.4 19,420.5
10 Monetary authority 431.4 452.5 478.1
11 Commercial banking 4,031.9 4,335.7 4,643.9
12 U.S.-chartered banks 3,450.7 3,761.2 4,078.9
13 Foreign banking offices in
United States 516.1 504.2 484.1
14 Bank holding companies 27.4 26.5 32.7
15 Banks in U.S.-affiliated
areas 37.8 43.8 48.3
16 Savings institutions 928.5 964.6 1,033.2
17 Credit unions 305.3 324.2 351.7
18 Bank personal trusts and
estates 207.0 194.1 222.0
19 Life insurance companies 1,751.1 1,828.0 1,886.0
20 Other insurance companies 515.3 521.1 518.2
21 Private pension funds 674.6 651.8 677.2
22 State and local government
retirement funds 632.5 704.6 751.4
23 Money market mutual funds 721.9 965.9 1,147.8
24 Mutual funds 901.1 1,028.4 1,076.8
25 Closed-end funds 98.3 103.7 111.1
26 Government-sponsored
enterprises 939.4 1,253.9 1,545.6
27 Federally related mortgage
pools 1,825.8 2,018.4 2,292.2
28 Asset-backed securities (ABSs)
issuers 937.7 1,219.4 1,424.6
29 Finance companies 568.2 645.5 742.5
30 Mortgage companies 32.1 35.3 35.6
31 Real estate investment trusts
(REITs) 50.6 45.5 42.9
32 Brokers and dealers 182.6 189.4 154.7
33 Funding corporations 166.7 152.3 285.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 21,310.3 23,487.8 25,735.6
Other liabilities
35 Official foreign exchange 48.9 60.1 50.1
36 Special drawing rights
certificates 9.2 9.2 6.2
37 Treasury currency 19.3 19.9 20.9
38 Foreign deposits 618.5 642.3 703.6
39 Net interbank liabilities 219.4 189.0 205.3
40 Checkable deposits and currency 1,286.1 1,333.4 1,484.8
41 Small time and savings deposits 2,474.1 2,626.5 2,671.2
42 Large time deposits 713.4 805.5 936.1
43 Money market fund shares 1,042.5 1,329.7 1,578.8
44 Security repurchase agreements 822.4 913.7 1,083.4
45 Mutual fund shares 2,989.4 3,613.1 4,538.5
46 Security credit 469.1 572.3 676.6
47 Life insurance reserves 665.0 718.3 783.9
48 Pension fund reserves 7,323.4 8,209.0 9,080.2
49 Trade payables 1,967.3 2,076.5 2,298.8
50 Taxes payable 151.1 172.4 194.7
51 Investment in bank personal
trusts 942.5 1,001.0 1,130.4
52 Miscellaneous 6,731.6 7,653.4 8,195.4
53 Total liabilities 49,803.3 55,433.2 61,374.6
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.1 21.6 21.4
55 Corporate equities 13,301.7 15,577.3 19,581.2
56 Household equity in noncorporate
business 4,051.3 4,394.4 4,663.5
Liabilities not identified as
assets (-)
57 Treasury currency -6.3 -6.4 -7.1
58 Foreign deposits 535.0 542.8 588.9
59 Net interbank transactions -32.2 -27.0 -25.5
60 Security repurchase agreements 172.9 230.6 266.7
61 Taxes payable 104.2 122.9 122.7
62 Miscellaneous 1,571.2 -2,372.7 -2,791.3
Floats not included in
assets (-)
63 Federal government checkable
deposits -8.1 -3.9 -9.9
64 Other checkable deposits 26.2 23.1 22.3
65 Trade credit 126.8 76.6 120.9
66 Totals identified to sectors as
assets 67,830.0 76,840.3 87,352.8
2000
Transaction category or sector 2000 Q2 Q3
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 27,520.8 26,533.0 26,956.5
2 Domestic nonfederal nonfinancial
sectors 3,188.9 3,309.3 3,239.4
3 Household 2,069.6 2,189.7 2,131.9
4 Nonfinancial corporate
business 251.4 246.1 242.2
5 Nonfarm noncorporate business 75.9 77.6 76.6
6 State and local governments 792.0 795.8 788.7
7 Federal government 265.4 261.6 262.7
8 Rest of the world 3,004.6 2,809.9 2,861.7
9 Financial sectors 21,061.9 20,152.3 20,592.7
10 Monetary authority 511.8 505.1 511.5
11 Commercial banking 5,002.3 4,847.4 4,931.0
12 U.S.-chartered banks 4,418.7 4,295.4 4,368.2
13 Foreign banking offices in
United States 508.1 478.1 487.5
14 Bank holding companies 20.5 23.0 21.3
15 Banks in U.S.-affiliated
areas 55.0 51.0 54.0
16 Savings institutions 1,089.7 1,062.5 1,082.2
17 Credit unions 382.2 370.1 376.0
18 Bank personal trusts and
estates 239.1 230.2 234.6
19 Life insurance companies 1,943.9 1,914.1 1,935.1
20 Other insurance companies 509.4 510.8 512.4
21 Private pension funds 717.1 696.3 710.5
22 State and local government
retirement funds 806.0 775.1 784.5
23 Money market mutual funds 1,290.9 1,159.4 1,212.5
24 Mutual funds 1,097.8 1,072.5 1,087.1
25 Closed-end funds 102.7 106.9 104.8
26 Government-sponsored
enterprises 1,803.7 1,649.2 1,714.3
27 Federally related mortgage
pools 2,491.6 2,355.2 2,414.3
28 Asset-backed securities (ABSs)
issuers 1,602.9 1,486.3 1,522.9
29 Finance companies 850.5 812.3 830.0
30 Mortgage companies 35.9 35.5 35.4
31 Real estate investment trusts
(REITs) 36.6 38.2 37.3
32 Brokers and dealers 223.6 188.2 243.3
33 Funding corporations 324.4 337.0 313.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 27,520.8 26,533.0 26,956.5
Other liabilities
35 Official foreign exchange 46.1 46.0 44.9
36 Special drawing rights
certificates 2.2 4.2 3.2
37 Treasury currency 23.2 22.1 23.2
38 Foreign deposits 824.5 782.8 772.6
39 Net interbank liabilities 222.6 194.7 206.0
40 Checkable deposits and currency 1,413.3 1,409.7 1,385.7
41 Small time and savings deposits 2,861.9 2,738.8 2,790.9
42 Large time deposits 1,054.5 987.4 1,025.9
43 Money market fund shares 1,812.1 1,627.1 1,697.8
44 Security repurchase agreements 1,194.1 1,185.2 1,238.6
45 Mutual fund shares 4,434.6 4,718.8 4,781.6
46 Security credit 822.7 780.3 805.8
47 Life insurance reserves 819.1 806.5 818.7
48 Pension fund reserves 9,091.4 9,214.2 9,355.5
49 Trade payables 2,465.5 2,371.6 2,418.3
50 Taxes payable 216.4 211.4 214.9
51 Investment in bank personal
trusts 1,019.4 1,114.4 1,106.7
52 Miscellaneous 9,008.8 8,627.9 9,130.2
53 Total liabilities 64,853.4 63,376.2 64,777.1
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.6 21.5 21.4
55 Corporate equities 17,566.4 19,396.1 19,244.2
56 Household equity in noncorporate
business 4,956.3 4,819.5 4,873.0
Liabilities not identified as
assets (-)
57 Treasury currency -8.5 -7.9 -7.6
58 Foreign deposits 659.9 634.2 611.5
59 Net interbank transactions -4.3 -11.6 -17.6
60 Security repurchase agreements 382.5 419.6 453.5
61 Taxes payable 128.5 134.5 124.6
62 Miscellaneous -3,201.2 -2,985.6 -2,719.1
Floats not included in
assets (-)
63 Federal government checkable
deposits -2.3 -5.6 -7.8
64 Other checkable deposits 24.0 22.5 15.5
65 Trade credit 96.1 16.5 9.9
66 Totals identified to sectors as
assets 89,323.1 89,396.8 90,452.8
2000 2001
Transaction category or sector Q4 Q1 Q2
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 27,520.8 27,958.6 28,312.4
2 Domestic nonfederal nonfinancial
sectors 3,188.9 3,113.5 3,033.7
3 Household 2,069.6 2,011.0 1,931.7
4 Nonfinancial corporate
business 251.4 225.3 229.4
5 Nonfarm noncorporate business 75.9 74.7 73.4
6 State and local governments 792.0 802.4 799.1
7 Federal government 265.4 266.6 268.9
8 Rest of the world 3,004.6 3,112.9 3,200.1
9 Financial sectors 21,061.9 21,465.7 21,809.6
10 Monetary authority 511.8 523.9 535.1
11 Commercial banking 5,002.3 5,015.7 5,044.4
12 U.S.-chartered banks 4,418.7 4,424.4 4,463.2
13 Foreign banking offices in
United States 508.1 515.0 504.2
14 Bank holding companies 20.5 22.3 21.6
15 Banks in U.S.-affiliated
areas 55.0 54.1 55.5
16 Savings institutions 1,089.7 1,101.6 1,116.4
17 Credit unions 382.2 386.5 391.8
18 Bank personal trusts and
estates 239.1 241.8 245.1
19 Life insurance companies 1,943.9 1,967.2 1,996.9
20 Other insurance companies 509.4 510.0 510.0
21 Private pension funds 717.1 722.8 729.3
22 State and local government
retirement funds 806.0 788.3 807.6
23 Money market mutual funds 1,290.9 1,403.8 1,414.6
24 Mutual funds 1,097.8 1,113.9 1,160.3
25 Closed-end funds 102.7 100.6 98.5
26 Government-sponsored
enterprises 1,803.7 1,869.7 1,951.1
27 Federally related mortgage
pools 2,491.6 2,534.2 2,633.4
28 Asset-backed securities (ABSs)
issuers 1,602.9 1,660.5 1,703.7
29 Finance companies 850.5 848.0 878.5
30 Mortgage companies 35.9 36.2 36.5
31 Real estate investment trusts
(REITs) 36.6 37.6 37.9
32 Brokers and dealers 223.6 312.3 288.4
33 Funding corporations 324.4 291.0 230.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 27,520.8 27,958.6 28,312.4
Other liabilities
35 Official foreign exchange 46.1 42.8 43.4
36 Special drawing rights
certificates 2.2 2.2 2.2
37 Treasury currency 23.2 22.9 23.2
38 Foreign deposits 824.5 883.4 840.8
39 Net interbank liabilities 222.6 156.0 163.9
40 Checkable deposits and currency 1,413.3 1,405.7 1,452.0
41 Small time and savings deposits 2,861.9 2,965.3 2,992.3
42 Large time deposits 1,054.5 1,078.0 1,087.1
43 Money market fund shares 1,812.1 1,994.7 2,014.8
44 Security repurchase agreements 1,194.1 1,179.3 1,205.2
45 Mutual fund shares 4,434.6 3,990.4 4,259.5
46 Security credit 822.7 785.4 781.5
47 Life insurance reserves 819.1 823.0 840.3
48 Pension fund reserves 9,091.4 8,616.3 8,880.4
49 Trade payables 2,465.5 2,447.3 2,418.9
50 Taxes payable 216.4 225.7 225.1
51 Investment in bank personal
trusts 1,019.4 929.1 964.4
52 Miscellaneous 9,008.8 9,443.4 9,702.3
53 Total liabilities 64,853.4 64,949.6 66,209.6
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 21.6 21.4 21.5
55 Corporate equities 17,566.4 15,311.0 16,240.7
56 Household equity in noncorporate
business 4,956.3 5,009.1 5,038.9
Liabilities not identified as
assets (-)
57 Treasury currency -8.5 -9.4 -9.5
58 Foreign deposits 659.9 705.1 667.5
59 Net interbank transactions -4.3 1.7 5.5
60 Security repurchase agreements 382.5 339.2 368.7
61 Taxes payable 128.5 114.3 134.4
62 Miscellaneous -3,201.2 -3,096.0 -3,074.3
Floats not included in
assets (-)
63 Federal government checkable
deposits -2.3 -1.9 -4.8
64 Other checkable deposits 24.0 21.1 25.5
65 Trade credit 96.1 53.3 25.0
66 Totals identified to sectors as
assets 89,323.1 87,163.8 89,372.6
2001
Transaction category or sector Q3 Q4
CREDIT MARKET
DEBT OUTSTANDING (2)
1 Total credit market assets 28,860.8 29,495.8
2 Domestic nonfederal nonfinancial
sectors 3,014.3 3,015.0
3 Household 1,924.2 1,894.4
4 Nonfinancial corporate
business 225.0 242.8
5 Nonfarm noncorporate business 71.9 70.1
6 State and local governments 793.3 807.8
7 Federal government 269.8 272.8
8 Rest of the world 3,294.3 3,430.6
9 Financial sectors 22,282.3 22,777.4
10 Monetary authority 534.1 551.7
11 Commercial banking 5,096.4 5,202.8
12 U.S.-chartered banks 4,508.8 4,605.1
13 Foreign banking offices in
United States 509.9 512.0
14 Bank holding companies 21.3 24.3
15 Banks in U.S.-affiliated
areas 56.5 61.4
16 Savings institutions 1,118.4 1,130.1
17 Credit unions 407.8 420.8
18 Bank personal trusts and
estates 247.3 249.5
19 Life insurance companies 2,044.2 2,076.2
20 Other insurance companies 511.3 514.5
21 Private pension funds 725.1 735.0
22 State and local government
retirement funds 789.0 790.9
23 Money market mutual funds 1,498.0 1,536.9
24 Mutual funds 1,188.2 1,223.9
25 Closed-end funds 96.4 94.2
26 Government-sponsored
enterprises 2,019.1 2,098.1
27 Federally related mortgage
pools 2,759.4 2,828.2
28 Asset-backed securities (ABSs)
issuers 1,771.2 1,859.0
29 Finance companies 859.4 867.0
30 Mortgage companies 36.9 37.2
31 Real estate investment trusts
(REITs) 39.8 47.1
32 Brokers and dealers 366.4 321.2
33 Funding corporations 173.8 193.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 28,860.8 29,495.8
Other liabilities
35 Official foreign exchange 49.0 46.8
36 Special drawing rights
certificates 2.2 2.2
37 Treasury currency 23.2 23.2
38 Foreign deposits 861.7 886.7
39 Net interbank liabilities 177.7 232.5
40 Checkable deposits and currency 1,485.7 1,599.1
41 Small time and savings deposits 3,047.0 3,121.9
42 Large time deposits 1,090.7 1,118.4
43 Money market fund shares 2,116.1 2,240.7
44 Security repurchase agreements 1,253.1 1,237.9
45 Mutual fund shares 3,753.1 4,136.4
46 Security credit 920.0 814.1
47 Life insurance reserves 847.0 868.1
48 Pension fund reserves 8,309.3 8,723.5
49 Trade payables 2,429.1 2,439.3
50 Taxes payable 251.3 229.6
51 Investment in bank personal
trusts 859.6 912.0
52 Miscellaneous 10,110.2 10,078.3
53 Total liabilities 66,446.7 68,206.6
Financial assets not included in
liabilities (+)
54 Gold and special drawing rights 22.0 21.8
55 Corporate equities 13,628.2 15,186.0
56 Household equity in noncorporate
business 5,087.0 5,105.5
Liabilities not identified as
assets (-)
57 Treasury currency -9.8 -10.0
58 Foreign deposits 687.2 698.8
59 Net interbank transactions 6.0 11.5
60 Security repurchase agreements 369.5 330.8
61 Taxes payable 148.5 99.7
62 Miscellaneous -2,942.8 -3,308.2
Floats not included in
assets (-)
63 Federal government checkable
deposits -5.9 -14.1
64 Other checkable deposits 19.2 28.6
65 Trade credit 17.2 102.7
66 Totals identified to sectors as
assets 86,894.9 90,580.2
(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 [] June 2002
2.10 NONFINANCIAL BUSINESS ACTIVITY Selected Measures
Monthly data seasonally adjusted, and indexes 1992=100, except as noted
Measure 1999 2000 2001
1 Industrial production (1) 139.4 145.7 140.1
Market groups
2 Products, total 129.6 133.5 129.4
3 Final, total 131.8 135.8 132.0 (r)
4 Consumer goods 119.9 121.9 120.7
5 Equipment 153.5 161.8 152.3
6 Intermediate 123.2 126.4 121.4
7 Materials 155.6 166.4 158.0 (r)
Industry groups
8 Manufacturing 144.7 151.6 144.8
9 Capacity utilization,
manufacturing (percent)
(2) 80.6 80.7 75.1
10 Construction contracts (3) 114.9 (r) 129.6 (r) 138.1 (r)
11 Nonagricultural employment,
total (4) 118.7 121.3 121.8
12 Goods-producing, total 109.8 110.7 108.1
13 Manufacturing, total 102.5 102.0 97.7
14 Manufacturing,
production workers 103.7 102.8 97.0
15 Service-producing 121.1 124.2 125.5
16 Personal income, total 144.3 154.3 161.8
17 Wages and salary
disbursements 149.9 162.2 170.9
18 Manufacturing 134.0 142.3 144.3
19 Disposable personal
income (5) 139.2 147.9 156.0
20 Retail sales (5) 155.1 167.0 172.6
Prices (6)
21 Consumer (1982-84=100) 166.6 172.2 177.1
22 Producer finished goods
(1982=100) 133.0 138.0 140.7
2001
Measure July Aug. Sept.
1 Industrial production (1) 140.4 140.0 138.5
Market groups
2 Products, total 130.3 129.4 127.7
3 Final, total 133.2 132.0 130.0
4 Consumer goods 122.2 121.4 119.9
5 Equipment 152.7 150.5 147.1
6 Intermediate 121.4 121.6 120.7
7 Materials 157.2 157.6 156.5
Industry groups
8 Manufacturing 145.2 144.5 142.9
9 Capacity utilization,
manufacturing (percent)
(2) 75.1 74.6 73.7
10 Construction contracts (3) 138.0 (r) 134.0 (r) 142.0 (r)
11 Nonagricultural employment,
total (4) 122.0 121.9 121.8
12 Goods-producing, total 108.1 107.5 107.1
13 Manufacturing, total 97.7 96.8 96.4
14 Manufacturing,
production workers 96.8 95.9 95.3
15 Service-producing 125.7 125.9 125.8
16 Personal income, total 162.7 162.8 162.7
17 Wages and salary
disbursements 171.8 171.8 171.7
18 Manufacturing 144.9 144.1 143.4
19 Disposable personal
income (5) 157.9 161.0 159.1
20 Retail sales (5) 172.6 172.9 169.2
Prices (6)
21 Consumer (1982-84=100) 177.5 177.5 178.3
22 Producer finished goods
(1982=100) 140.5 140.9 141.6
2001
Measure Oct. Nov. Dec.
1 Industrial production (1) 137.7 137.2 136.7 (r)
Market groups
2 Products, total 126.8 126.7 126.5 (r)
3 Final, total 129.2 129.4 129.1 (r)
4 Consumer goods 119.6 120.0 120.6 (r)
5 Equipment 145.4 145.0 142.7 (r)
6 Intermediate 119.6 118.9 118.6 (r)
7 Materials 155.9 154.8 153.6 (r)
Industry groups
8 Manufacturing 142.1 142.0 141.6 (r)
9 Capacity utilization,
manufacturing (percent)
(2) 73.3 73.2 72.9
10 Construction contracts (3) 136.0 (r) 134.0 (r) 150.0 (r)
11 Nonagricultural employment,
total (4) 121.4 121.0 120.9
12 Goods-producing, total 106.5 105.8 105.3
13 Manufacturing, total 95.7 94.8 94.1
14 Manufacturing,
production workers 94.6 93.6 92.8
15 Service-producing 125.4 125.2 125.2
16 Personal income, total 162.5 162.5 163.0
17 Wages and salary
disbursements 171.3 171.4 172.2
18 Manufacturing 142.1 140.9 140.7
19 Disposable personal
income (5) 156.2 156.3 156.6
20 Retail sales (5) 180.8 174.9 174.5
Prices (6)
21 Consumer (1982-84=100) 177.7 177.4 (r) 176.7
22 Producer finished goods
(1982=100) 139.7 138.3 (r) 137.2
2002
Measure Jan. (r) Feb. (r) Mar. (p)
1 Industrial production (1) 137.4 137.9 138.8
Market groups
2 Products, total 126.5 126.8 127.5
3 Final, total 129.1 129.2 129.8
4 Consumer goods 120.5 121.0 121.7
5 Equipment 142.9 142.0 142.3
6 Intermediate 118.8 119.6 120.7
7 Materials 155.7 156.5 157.9
Industry groups
8 Manufacturing 142.5 142.7 143.9
9 Capacity utilization,
manufacturing (percent)
(2) 73.3 73.4 73.9
10 Construction contracts (3) 141.0 139.0 147.0
11 Nonagricultural employment,
total (4) 120.8 120.8 120.9
12 Goods-producing, total 104.5 104.4 104.0
13 Manufacturing, total 93.5 93.2 93.0
14 Manufacturing,
production workers 92.2 91.9 91.7
15 Service-producing 125.3 125.3 125.5
16 Personal income, total 163.8 164.7 n.a.
17 Wages and salary
disbursements 172.2 172.8 n.a.
18 Manufacturing 140.3 140.2 n.a.
19 Disposable personal
income (5) 159.5 160.6 n.a.
20 Retail sales (5) 174.7 175.0 175.5
Prices (6)
21 Consumer (1982-84=100) 177.1 177.8 178.8
22 Producer finished goods
(1982=100) 137.5 137.7 138.9
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in November 2001. The recent annual
revision is described in the March 2002 issue of the Bulletin. For a
description of the methods of estimating industrial production and
capacity utilization, see "Industrial Production and Capacity
Utilization: Historical Revision and Recent Developments," Federal
Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Ratio of index of production to index of capacity. Based on data
from the Federal Reserve, U.S. Department of Commerce, and other
sources.
(3.) Index of dollar value of total construction contracts, including
residential, nonresidential, and heavy engineering, from McGraw-Hill
Info. Systems Co., F.W. Dodge Division.
(4.) Based on data from the U.S. Department of Labor, Employment and
Earnings. Series covers employees only, excluding personnel in the
armed forces.
(5.) Based on data from U.S. Department of Commerce, Survey of Current
Business.
(6.) Based on data not seasonally adjusted. Seasonally adjusted data
for changes in the price indexes can be obtained from the U.S.
Department of Labor, Bureau of Labor Statistics, Monthly Labor Review.
NOTE. Basic data (not indexes) for series mentioned in notes 4 and 5,
and indexes for series mentioned in note 3 and 6, can also be found in
the Survey of Current Business.
Table 2.10 will no longer be published in the Federal Reserve Bulletin
after this issue (June 2002). For information on where to obtain the
data presented in this table, please see the "Announcements" section,
pp. 290-91.
2.11 LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Thousands of persons; monthly data seasonally adjusted
2001
Category 1999 2000 2001 Aug.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 139,368 140,863 141,815 141,380
Employment
2 Nonagricultural industries
(3) 130,207 131,903 131,929 131,282
3 Agriculture 3,281 3,305 3,144 3,126
Unemployment
4 Number 5,880 5,655 6,742 6,972
5 Rate (percent of civilian
labor force) 4.2 4.0 4.8 4.9
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 128,916 131,759 132,213 132,395
7 Manufacturing 18,552 18,469 17,698 17,533
8 Mining 539 543 563 569
9 Contract construction 6,415 6,698 6,861 6,861
10 Transportation and public
utilities 6,834 7,019 7,070 7,082
11 Trade 29,758 30,331 30,502 30,593
12 Finance 7,555 7,560 7,624 7,623
13 Service 39,055 40,460 41,024 41,129
14 Government 20,206 20,681 20,873 21,005
2001
Category Sept. Oct. Nov. Dec.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 142,068 142,280 142,279 142,314
Employment
2 Nonagricultural industries
(3) 131,823 131,412 131,099 130,809
3 Agriculture 3,181 3,203 3,154 3,246
Unemployment
4 Number 7,064 7,665 8,026 8,259
5 Rate (percent of civilian
labor force) 5.0 5.4 5.6 5.8
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,230 131,782 131,427 131,321
7 Manufacturing 17,448 17,325 17,159 17,039
8 Mining 569 569 567 564
9 Contract construction 6,871 6,852 6,851 6,850
10 Transportation and public
utilities 7,070 7,016 6,952 6,915
11 Trade 30,524 30,393 30,365 30,303
12 Finance 7,633 7,634 7,638 7,632
13 Service 41,134 40,995 40,889 40,957
14 Government 20,981 20,998 21,006 21,061
2002
Category Jan. (r) Feb. (r) Mar.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,390 142,211 142,005
Employment
2 Nonagricultural industries
(3) 130,195 131,073 130,768
3 Agriculture 3,273 3,246 3,126
Unemployment
4 Number 7,922 7,891 8,111
5 Rate (percent of civilian
labor force) 5.6 5.5 5.7
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 131,212 131,210 131,268
7 Manufacturing 16,923 16,869 16,831
8 Mining 563 557 555
9 Contract construction 6,787 6,817 6,780
10 Transportation and public
utilities 6,898 6,898 6,892
11 Trade 30,341 30,377 30,369
12 Finance 7,638 7,624 7,618
13 Service 40,992 40,983 41,101
14 Government 21,070 21,085 21,122
(1.) Beginning January 1994, reflects redesign of current population
survey and population controls from the 1990 census.
(2.) Persons sixteen years of age and older, including Resident Armed
Forces. Monthly figures are based on sample data collected during the
calendar week that contains the twelfth day; annual data are averages
of monthly figures. By definition, seasonality does not exist in
population figures.
(3.) Includes self-employed, unpaid family, and domestic service
workers.
(4.) Includes all full- and part-time employees who worked during, or
received pay for, the pay period that includes the twelfth day of the
month; excludes proprietors, self-employed persons, household and
unpaid family workers, and members of the armed forces. Data are
adjusted to the March 1992 benchmark, and only seasonally adjusted data
are available at this time.
SOURCE: Based on data from U.S. Department of Labor, Employment and
Earnings.
Table 2.11 will no longer be published in the Federal Reserve Bulletin
after this issue (June 2002). For information on where to obtain the
data presented in this table, please see the "Announcements" section,
pp. 290-91.
Selected Measures
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION (1)
Seasonally adjusted
2001 2002
Series Q2 Q3 Q4 (r) Q1
Output (1992=100)
1 Total industry 141.3 139.6 137.2 138.0
2 Manufacturing 146.0 144.2 141.9 143.0
3 Primary processing (3) 168.9 167.1 164.5 167.8
4 Advanced processing (4) 133.3 131.5 129.3 129.4
5 Durable goods 181.9 178.3 174.1 176.2
6 Lumber and products 113.2 115.5 112.7 114.3
7 Primary metals 120.5 117.8 109.1 112.7
8 Iron and steel 117.3 115.7 104.0 109.6
9 Nonferrous 124.6 120.6 115.3 116.8
10 Industrial machinery and
equipment 217.0 208.8 202.2 204.1
11 Electrical machinery 509.2 485.3 485.7 498.9
12 Motor vehicles and parts 166.8 169.5 165.1 172.6
13 Aerospace and miscellaneous
transportation equipment 99.0 95.9 91.2 86.1
14 Nondurable goods 111.5 111.0 110.2 110.6
15 Textile mill products 88.0 85.3 82.4 85.5
16 Paper and products 108.9 108.5 105.8 104.8
17 Chemicals and products 119.6 121.1 122.4 123.0
18 Plastics materials 116.4 117.4 115.6 113.7
19 Petroleum products 115.5 113.2 113.7 115.4
20 Mining 102.9 101.8 98.6 96.3
21 Utilities 120.0 119.1 116.9 117.8
22 Electric 123.6 122.2 121.1 122.1
2001 2002
Series Q2 Q3 Q4 Q1
Capacity (percent
of 1992 output)
1 Total industry 182.6 183.2 183.6 184.1
2 Manufacturing 193.2 193.6 194.0 194.4
3 Primary processing (3) 223.0 223.8 224.5 225.3
4 Advanced processing (4) 176.6 176.9 177.2 177.4
5 Durable goods 246.3 247.5 248.5 249.4
6 Lumber and products 148.5 148.8 149.1 149.2
7 Primary metals 150.8 150.6 150.4 149.4
8 Iron and steel 147.4 146.8 146.2 144.4
9 Nonferrous 155.3 155.6 155.8 155.9
10 Industrial machinery and
equipment 297.3 298.8 299.8 300.3
11 Electrical machinery 735.6 745.4 752.5 763.3
12 Motor vehicles and parts 220.1 221.5 222.9 224.1
13 Aerospace and miscellaneous
transportation equipment 135.3 135.2 135.1 135.1
14 Nondurable goods 143.0 142.9 142.9 142.9
15 Textile mill products 117.4 116.4 115.4 114.3
16 Paper and products 138.7 138.8 139.0 139.0
17 Chemicals and products 158.3 158.5 158.6 158.8
18 Plastics materials 152.5 153.0 153.4 153.8
19 Petroleum products 122.2 122.4 122.7 122.9
20 Mining 112.0 112.2 112.6 112.9
21 Utilities 136.2 138.1 139.9 141.6
22 Electric 135.1 137.4 139.8 141.9
2001 2002
Series Q2 Q3 Q4 (r) Q1
Capacity utilization rate
(percent) (2)
1 Total industry 77.4 76.2 74.7 75.0
2 Manufacturing 75.6 74.5 73.1 73.6
3 Primary processing (3) 75.8 74.7 73.3 74.5
4 Advanced processing (4) 75.5 74.3 73.0 72.9
5 Durable goods 73.8 72.0 70.1 70.6
6 Lumber and products 76.2 77.6 75.6 76.6
7 Primary metals 79.9 78.2 72.6 75.5
8 Iron and steel 79.6 78.8 71.2 75.9
9 Nonferrous 80.2 77.5 74.0 74.9
10 Industrial machinery and
equipment 73.0 69.9 67.5 67.9
11 Electrical machinery 69.2 65.1 64.6 65.4
12 Motor vehicles and parts 75.8 76.5 74.1 77.0
13 Aerospace and miscellaneous
transportation equipment 73.2 71.0 67.5 63.7
14 Nondurable goods 77.9 77.7 77.1 77.4
15 Textile mill products 74.9 73.3 71.5 74.8
16 Paper and products 78.5 78.1 76.1 75.4
17 Chemicals and products 75.6 76.4 77.2 77.4
18 Plastics materials 76.3 76.7 75.4 73.9
19 Petroleum products 94.5 92.5 92.7 93.9
20 Mining 91.8 90.7 87.6 85.4
21 Utilities 88.1 86.3 83.6 83.2
22 Electric 91.5 88.9 86.7 86.0
Previous
1973 1975 cycle (5)
Series High Low High Low
Capacity utilization rate
(percent) (2)
1 Total industry 89.2 72.6 87.3 71.1
2 Manufacturing 88.5 70.5 86.9 69.0
3 Primary processing (3) 91.8 67.3 88.6 65.7
4 Advanced processing (4) 86.5 72.5 86.3 71.0
5 Durable goods 89.2 68.9 87.7 63.9
6 Lumber and products 88.7 61.2 87.9 60.8
7 Primary metals 100.2 65.9 94.2 45.1
8 Iron and steel 105.8 66.6 95.8 37.0
9 Nonferrous 90.8 59.8 91.1 60.1
10 Industrial machinery and
equipment 96.0 74.3 93.2 64.0
11 Electrical machinery 89.2 64.7 89.4 71.6
12 Motor vehicles and parts 93.4 51.3 95.0 45.5
13 Aerospace and miscellaneous
transportation equipment 78.4 67.6 81.9 66.6
14 Nondurable goods 87.8 71.7 87.5 76.4
15 Textile mill products 91.4 60.0 91.2 72.3
16 Paper and products 97.1 69.2 96.1 80.6
17 Chemicals and products 87.6 69.7 84.6 69.9
18 Plastics materials 102.0 50.6 90.9 63.4
19 Petroleum products 96.7 81.1 90.0 66.8
20 Mining 94.3 88.2 96.0 80.3
21 Utilities 96.2 82.9 89.1 75.9
22 Electric 99.0 82.7 88.2 78.9
Latest
cycle (6) 2001
Series High Low Mar.
Capacity
utilization rate
(percent) (2)
1 Total industry 85.4 78.1 78.5
2 Manufacturing 85.7 76.6 76.7
3 Primary processing (3) 88.3 76.7 76.8
4 Advanced processing (4) 84.2 76.6 76.6
5 Durable goods 84.6 73.1 75.3
6 Lumber and products 93.6 75.5 75.4
7 Primary metals 92.7 73.7 77.9
8 Iron and steel 95.2 71.8 75.3
9 Nonferrous 89.3 74.2 80.7
10 Industrial machinery and
equipment 85.4 72.3 76.2
11 Electrical machinery 84.0 75.0 73.6
12 Motor vehicles and parts 89.1 55.9 74.7
13 Aerospace and miscellaneous
transportation equipment 87.3 79.2 74.1
14 Nondurable goods 87.3 80.7 78.6
15 Textile mill products 90.4 77.7 77.0
16 Paper and products 93.5 85.0 76.5
17 Chemicals and products 86.2 79.3 76.7
18 Plastics materials 97.0 74.8 78.9
19 Petroleum products 88.5 85.1 93.9
20 Mining 88.0 87.0 91.6
21 Utilities 92.6 83.4 90.2
22 Electric 95.0 87.1 93.3
2001
Series Oct. Nov. Dec. (r)
Capacity utilization
rate (percent) (2)
1 Total industry 75.0 74.7 74.4
2 Manufacturing 73.3 73.2 72.9
3 Primary processing (3) 73.9 73.2 72.7
4 Advanced processing (4) 72.9 73.1 73.0
5 Durable goods 70.1 70.1 70.0
6 Lumber and products 75.7 75.4 75.7
7 Primary metals 75.5 73.3 68.9
8 Iron and steel 75.4 73.3 64.8
9 Nonferrous 75.5 73.3 73.3
10 Industrial machinery and
equipment 67.7 67.9 66.8
11 Electrical machinery 64.6 64.5 64.5
12 Motor vehicles and parts 70.7 74.4 77.0
13 Aerospace and miscellaneous
transportation equipment 69.4 67.3 65.8
14 Nondurable goods 77.5 77.1 76.8
15 Textile mill products 71.7 71.0 71.7
16 Paper and products 77.8 76.4 74.1
17 Chemicals and products 77.7 77.2 76.6
18 Plastics materials 77.7 75.6 72.9
19 Petroleum products 93.7 93.0 91.4
20 Mining 88.4 87.9 86.4
21 Utilities 85.7 83.0 82.0
22 Electric 88.0 87.1 84.8
2002
Series Jan. (r) Feb. (r) Mar. (p)
Capacity utilization rate
(percent) (2)
1 Total industry 74.7 74.9 75.4
2 Manufacturing 73.3 73.4 73.9
3 Primary processing (3) 73.9 74.4 75.1
4 Advanced processing (4) 72.9 72.8 73.1
5 Durable goods 70.4 70.5 71.1
6 Lumber and products 75.4 76.4 78.0
7 Primary metals 74.6 75.4 76.4
8 Iron and steel 74.1 76.4 77.1
9 Nonferrous 74.9 74.3 75.6
10 Industrial machinery and
equipment 68.0 67.6 68.2
11 Electrical machinery 64.9 65.3 65.9
12 Motor vehicles and parts 76.8 77.1 77.1
13 Aerospace and miscellaneous
transportation equipment 64.6 63.8 62.8
14 Nondurable goods 77.2 77.3 77.7
15 Textile mill products 72.4 74.9 77.0
16 Paper and products 75.3 75.0 75.8
17 Chemicals and products 77.3 77.4 77.7
18 Plastics materials 72.8 73.5 75.5
19 Petroleum products 93.7 94.1 93.8
20 Mining 86.2 85.6 84.3
21 Utilities 81.4 83.6 84.6
22 Electric 84.8 85.9 87.4
(1.) Data in this table also appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's
web site, http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in November 2001. The recent
annual revision is described in the March 2002 issue of the Bulletin.
For a description of the methods of estimating industrial production
and capacity utilization, see "Industrial Production and Capacity
Utilization: Historical Revision and Recent Developments," Federal
Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Capacity utilization is calculated as the ratio of the Federal
Reserve's seasonally adjusted index of industrial production to the
corresponding index of capacity.
(3.) Primary processing includes textiles; lumber; paper; industrial
chemicals; synthetic materials; fertilizer materials; petroleum
products; rubber and plastics; stone, clay, and glass; primary metals;
fabricated metals; semiconductors and related electronic components;
and motor vehicle parts.
(4.) Advanced processing includes foods, tobacco, apparel, furniture
and fixtures, printing and publishing, chemical products such as drugs
and toiletries, agricultural chemicals, leather and products, machinery
except semiconductors and related electronic components, transportation
equipment except motor vehicle parts, instruments, and miscellaneous
manufacturing.
(5.) Monthly highs, 1978-80; monthly lows, 1982.
(6.) Monthly highs, 1988-89; monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
1992
SIC pro- 2001
Group code por- avg.
(2) tion
MAJOR MARKETS
1 Total index 100.0 140.1
2 Products 60.8 129.4
3 Final products 46.3 132.0
4 Consumer goods, total 29.0 120.7
5 Durable consumer goods 5.8 151.3
6 Automotive products 2.5 149.9
7 Autos and trucks 1.6 160.5
8 Autos, consumer 0.9 94.0
9 Trucks, consumer 0.7 231.4
10 Auto parts and allied
goods 0.9 133.5
11 Other 3.3 151.5
12 Appliances, televisions,
and air conditioners 0.9 283.2
13 Carpeting and furniture 0.8 119.1
14 Miscellaneous home goods 1.6 114.2
15 Nondurable consumer goods 23.2 113.3
16 Foods and tobacco 10.4 108.8
17 Clothing 2.4 78.3
18 Chemical products 4.6 145.0
19 Paper products 2.9 105.5
20 Energy 3.0 117.4
21 Fuels 0.8 114.2
22 Residential utilities 2.1 119.2
23 Equipment 17.3 152.3
24 Business equipment 13.2 175.9
25 Information processing 5.4 279.5
26 Computer and office
equipment 1.1 948.2
27 Industrial 4.0 125.1
28 Transit 2.5 127.6
29 Autos and trucks 1.2 145.8
30 Other 1.3 139.1
31 Defense and space equipment 3.4 74.0
32 Oil and gas well drilling 0.6 140.2
33 Manufactured homes 0.2 93.7
34 Intermediate products, total 14.5 121.4
35 Construction supplies 5.4 137.6
36 Business supplies 9.1 111.9
37 Materials 39.2 158.0
38 Durable goods materials 20.7 212.7
39 Durable consumer parts 4.0 155.8
40 Equipment parts 7.5 441.8
41 Other 9.2 125.2
42 Basic metal materials 3.1 113.7
43 Nondurable goods materials 8.9 104.2
44 Textile materials 1.1 90.8
45 Paper materials 1.8 108.6
46 Chemical materials 4.0 102.8
47 Other 2.1 109.8
48 Energy materials 9.6 103.3
49 Primary energy 6.2 98.8
50 Converted fuel materials 3.4 111.7
SPECIAL AGGREGATES
51 Total excluding autos and trucks 97.3 139.8
52 Total excluding motor vehicles
and parts 95.3 139.0
53 Total excluding computer and
office equipment 98.4 134.2
54 Consumer goods excluding autos
and trucks 27.5 118.5
55 Consumer goods excluding energy 26.1 121.1
56 Business equipment excluding
autos and trucks 12.0 179.7
57 Business equipment excluding
computer and office equipment 12.0 146.8
58 Materials excluding energy 29.6 175.7
MAJOR INDUSTRIES
59 Total index ... 100.0 140.1
60 Manufacturing ... 85.4 144.8
61 Primary processing ... 31.0 167.9
62 Advanced processing ... 54.4 132.0
63 Durable goods ... 44.8 179.3
64 Lumber and products 24 2.1 113.0
65 Furniture and fixtures 25 1.4 138.7
66 Stone, clay, and glass products 32 2.1 130.8
67 Primary metals 33 3.1 116.9
68 Iron and steel 331,2 1.8 112.6
69 Raw steel 331PT 0.1 102.8
70 Nonferrous 333-6,9 1.4 122.3
71 Fabricated metal products 34 5.0 130.4
72 Industrial machinery and
equipment 35 7.8 213.3
73 Computer and office equipment 357 1.6 1,088.0
74 Electrical machinery 36 7.1 504.2
75 Transportation equipment 37 9.4 128.5
76 Motor vehicles and parts 371 4.7 162.9
77 Autos and light trucks 371PT 2.5 154.1
78 Aerospace and miscellaneous
transportation equipment 372-6,9 4.7 96.3
79 Instruments 38 5.4 115.3
80 Miscellaneous 39 1.3 117.5
81 Nondurable goods ... 40.6 111.4
82 Foods 20 9.6 112.9
83 Tobacco products 21 1.6 93.8
84 Textile mill products 22 1.8 86.7
85 Apparel products 23 2.2 93.1
86 Paper and products 26 3.5 108.1
87 Printing and publishing 27 6.8 101.6
88 Chemicals and products 28 10.0 121.1
89 Petroleum products 29 1.4 114.3
90 Rubber and plastics 30 3.5 136.8
91 Leather and products 31 0.3 63.1
92 Mining ... 6.8 101.3
93 Metal 10 0.4 88.4
94 Coal 12 1.0 111.7
95 Oil and gas extraction 13 4.8 96.1
96 Stone and earth minerals 14 0.6 132.6
97 Utilities ... 7.8 119.8
98 Electric 491,3PT 6.2 123.1
99 Gas 492,3PT 1.6 109.1
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts ... 80.7 143.9
101 Manufacturing excluding computers
and office equipment ... 83.8 138.0
102 Computers, communications
equipment, and semiconductors ... 5.6 1,048.5
103 Manufacturing excluding computers
and semiconductors ... 81.3 121.2
104 Manufacturing excluding computers,
communications equipment, and
semiconductors ... 79.8 118.2
Gross value (billions of
1996 dollars, annual rates)
MAJOR MARKETS
105 Products, total ... 100.0 2,720.1
106 Final ... 77.2 2,101.5
107 Consumer goods ... 51.9 1,303.7
108 Equipment ... 25.3 797.4
109 Intermediate ... 22.8 618.9
2001
Group Mar. Apr. May
Index (1992=100)
MAJOR MARKETS
1 Total index 142.9 142.0 141.6
2 Products 132.1 131.0 130.9
3 Final products 135.1 134.0 133.9
4 Consumer goods, total 121.8 121.3 121.4
5 Durable consumer goods 152.9 152.2 154.2
6 Automotive products 149.8 149.6 152.8
7 Autos and trucks 159.6 160.1 165.7
8 Autos, consumer 97.0 96.0 97.9
9 Trucks, consumer 226.3 228.4 237.9
10 Auto parts and allied
goods 134.7 133.5 132.5
11 Other 155.1 153.9 154.5
12 Appliances, televisions,
and air conditioners 284.0 284.0 292.1
13 Carpeting and furniture 123.1 119.9 117.7
14 Miscellaneous home goods 117.7 117.4 117.7
15 Nondurable consumer goods 114.3 113.9 113.6
16 Foods and tobacco 109.3 108.9 108.6
17 Clothing 82.8 82.0 80.6
18 Chemical products 143.8 143.4 145.2
19 Paper products 106.9 107.4 106.7
20 Energy 119.8 118.7 116.9
21 Fuels 113.9 114.6 115.6
22 Residential utilities 122.8 120.7 117.2
23 Equipment 159.6 157.3 156.5
24 Business equipment 185.4 182.1 181.3
25 Information processing 294.1 288.4 286.8
26 Computer and office
equipment 996.5 970.9 950.6
27 Industrial 132.6 129.1 129.0
28 Transit 135.6 133.8 134.5
29 Autos and trucks 151.1 148.0 152.5
30 Other 143.3 143.1 139.1
31 Defense and space equipment 74.5 74.4 73.5
32 Oil and gas well drilling 151.0 152.2 151.9
33 Manufactured homes 87.3 88.6 91.7
34 Intermediate products, total 123.4 122.2 122.2
35 Construction supplies 139.4 139.0 138.7
36 Business supplies 113.8 112.2 112.4
37 Materials 160.9 160.3 159.4
38 Durable goods materials 218.0 216.4 216.2
39 Durable consumer parts 155.0 155.1 159.6
40 Equipment parts 464.3 452.9 446.5
41 Other 127.2 127.9 127.5
42 Basic metal materials 114.5 117.6 116.7
43 Nondurable goods materials 104.9 104.7 103.0
44 Textile materials 95.3 95.0 90.9
45 Paper materials 106.0 110.2 108.3
46 Chemical materials 104.8 101.8 100.5
47 Other 108.7 110.6 109.4
48 Energy materials 104.5 104.9 103.8
49 Primary energy 99.1 99.5 99.0
50 Converted fuel materials 115.5 115.7 113.1
SPECIAL AGGREGATES
51 Total excluding autos and trucks 142.6 141.7 141.1
52 Total excluding motor vehicles
and parts 142.0 141.0 140.2
53 Total excluding computer and
office equipment 136.9 136.0 135.7
54 Consumer goods excluding autos
and trucks 119.8 119.3 119.0
55 Consumer goods excluding energy 122.0 121.6 122.0
56 Business equipment excluding
autos and trucks 189.8 186.4 184.9
57 Business equipment excluding
computer and office equipment 154.7 152.1 151.7
58 Materials excluding energy 179.3 178.2 177.4
MAJOR INDUSTRIES
59 Total index 142.9 142.0 141.6
60 Manufacturing 147.9 146.7 146.4
61 Primary processing 170.7 170.1 169.4
62 Advanced processing 135.1 133.7 133.6
63 Durable goods 184.7 182.9 182.7
64 Lumber and products 111.8 111.8 113.7
65 Furniture and fixtures 142.5 141.8 140.4
66 Stone, clay, and glass products 132.9 133.1 133.0
67 Primary metals 117.5 121.2 120.8
68 Iron and steel 111.3 115.8 118.4
69 Raw steel 107.0 99.2 106.2
70 Nonferrous 125.1 127.8 124.0
71 Fabricated metal products 132.2 131.0 131.0
72 Industrial machinery and
equipment 225.5 220.2 217.0
73 Computer and office equipment 1,137.1 1,112.9 1,095.1
74 Electrical machinery 533.6 518.8 511.4
75 Transportation equipment 131.0 130.5 133.2
76 Motor vehicles and parts 163.7 163.2 169.7
77 Autos and light trucks 154.2 154.4 159.5
78 Aerospace and miscellaneous
transportation equipment 100.4 99.9 98.9
79 Instruments 117.7 117.2 116.8
80 Miscellaneous 119.9 120.4 119.0
81 Nondurable goods 112.5 111.8 111.5
82 Foods 113.6 112.6 112.8
83 Tobacco products 93.3 94.8 92.9
84 Textile mill products 91.0 90.4 86.7
85 Apparel products 97.4 97.0 96.5
86 Paper and products 106.0 110.6 108.8
87 Printing and publishing 104.3 102.5 102.3
88 Chemicals and products 121.4 119.5 119.9
89 Petroleum products 114.7 115.4 115.6
90 Rubber and plastics 138.8 137.9 137.1
91 Leather and products 67.5 65.7 63.6
92 Mining 102.5 103.1 103.0
93 Metal 87.9 92.1 91.3
94 Coal 115.5 114.9 113.9
95 Oil and gas extraction 97.1 97.6 97.4
96 Stone and earth minerals 133.0 134.3 137.1
97 Utilities 121.8 121.3 119.7
98 Electric 124.7 125.2 122.8
99 Gas 110.3 107.1 107.8
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 147.0 145.8 145.1
101 Manufacturing excluding computers
and office equipment 140.8 139.8 139.5
102 Computers, communications
equipment, and semiconductors 1,127.5 1,089.4 1,065.4
103 Manufacturing excluding computers
and semiconductors 123.3 122.6 122.6
104 Manufacturing excluding computers,
communications equipment, and
semiconductors 120.0 119.4 119.4
Gross value (billions of
1996 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,776.5 2,754.8 2,759.1
106 Final 2,145.9 2,129.3 2,133.0
107 Consumer goods 1,311.5 1,307.1 1,312.4
108 Equipment 839.5 825.8 823.3
109 Intermediate 630.8 625.7 626.3
2001
Group June July Aug.
Index (1992=100)
MAJOR MARKETS
1 Total index 140.3 140.4 140.0
2 Products 130.0 130.3 129.4
3 Final products 132.9 133.2 132.0
4 Consumer goods, total 121.1 122.2 121.4
5 Durable consumer goods 153.2 157.0 154.1
6 Automotive products 152.3 161.1 155.6
7 Autos and trucks 163.4 178.3 169.1
8 Autos, consumer 97.2 97.5 90.6
9 Trucks, consumer 234.0 264.3 252.6
10 Auto parts and allied
goods 135.1 133.9 134.5
11 Other 152.9 151.0 151.0
12 Appliances, televisions,
and air conditioners 285.0 271.7 289.5
13 Carpeting and furniture 118.6 116.2 117.6
14 Miscellaneous home goods 116.2 117.7 112.7
15 Nondurable consumer goods 113.4 113.9 113.6
16 Foods and tobacco 108.9 109.3 108.7
17 Clothing 78.2 79.0 76.4
18 Chemical products 145.7 147.5 146.7
19 Paper products 106.6 106.0 105.7
20 Energy 115.8 116.0 117.8
21 Fuels 115.2 114.3 112.2
22 Residential utilities 115.8 116.5 120.5
23 Equipment 154.1 152.7 150.5
24 Business equipment 177.8 176.1 173.3
25 Information processing 279.6 275.2 271.9
26 Computer and office
equipment 948.7 934.2 925.5
27 Industrial 125.2 123.1 122.2
28 Transit 133.1 133.8 128.7
29 Autos and trucks 150.5 157.1 149.6
30 Other 140.7 140.8 139.8
31 Defense and space equipment 73.4 73.6 73.5
32 Oil and gas well drilling 150.4 147.1 143.1
33 Manufactured homes 96.0 95.4 97.9
34 Intermediate products, total 121.4 121.4 121.6
35 Construction supplies 138.0 137.3 138.8
36 Business supplies 111.6 112.0 111.3
37 Materials 157.4 157.2 157.6
38 Durable goods materials 212.9 212.6 212.0
39 Durable consumer parts 157.7 160.2 160.8
40 Equipment parts 436.1 429.9 429.6
41 Other 126.2 126.4 125.4
42 Basic metal materials 115.5 115.7 113.6
43 Nondurable goods materials 102.2 102.7 104.0
44 Textile materials 90.8 87.6 90.1
45 Paper materials 104.8 107.7 109.5
46 Chemical materials 100.3 100.9 102.2
47 Other 109.3 109.7 109.8
48 Energy materials 103.1 102.3 103.0
49 Primary energy 99.5 98.5 98.4
50 Converted fuel materials 109.1 109.0 111.4
SPECIAL AGGREGATES
51 Total excluding autos and trucks 139.9 139.5 139.4
52 Total excluding motor vehicles
and parts 139.0 138.7 138.5
53 Total excluding computer and
office equipment 134.4 134.6 134.1
54 Consumer goods excluding autos
and trucks 118.8 119.1 118.8
55 Consumer goods excluding energy 121.8 122.9 121.8
56 Business equipment excluding
autos and trucks 181.3 178.4 176.2
57 Business equipment excluding
computer and office equipment 148.5 147.2 144.7
58 Materials excluding energy 175.0 175.0 175.2
MAJOR INDUSTRIES
59 Total index 140.3 140.4 140.0
60 Manufacturing 145.0 145.2 144.5
61 Primary processing 167.3 167.4 167.3
62 Advanced processing 132.5 132.9 131.7
63 Durable goods 180.1 180.0 178.9
64 Lumber and products 114.2 114.0 116.2
65 Furniture and fixtures 138.3 138.4 138.7
66 Stone, clay, and glass products 130.0 130.0 130.8
67 Primary metals 119.5 119.5 117.5
68 Iron and steel 117.7 118.8 115.7
69 Raw steel 107.8 108.3 106.2
70 Nonferrous 122.0 120.8 119.9
71 Fabricated metal products 129.5 131.1 131.0
72 Industrial machinery and
equipment 213.8 210.2 211.0
73 Computer and office equipment 1,095.4 1,074.6 1,064.8
74 Electrical machinery 497.6 485.9 485.5
75 Transportation equipment 131.9 134.6 131.6
76 Motor vehicles and parts 167.7 174.6 169.9
77 Autos and light trucks 157.2 170.2 160.9
78 Aerospace and miscellaneous
transportation equipment 98.3 97.1 95.7
79 Instruments 114.5 115.0 113.9
80 Miscellaneous 119.8 120.7 116.7
81 Nondurable goods 111.1 111.5 111.1
82 Foods 112.9 113.1 113.0
83 Tobacco products 93.8 95.0 93.2
84 Textile mill products 86.8 84.3 85.8
85 Apparel products 94.0 95.1 91.2
86 Paper and products 107.1 108.1 107.7
87 Printing and publishing 101.3 101.1 100.7
88 Chemicals and products 119.5 121.2 121.2
89 Petroleum products 115.5 114.6 112.9
90 Rubber and plastics 137.7 138.0 137.3
91 Leather and products 62.2 62.1 62.8
92 Mining 102.5 101.9 101.4
93 Metal 88.6 88.8 87.9
94 Coal 115.9 111.9 111.7
95 Oil and gas extraction 97.0 97.0 96.3
96 Stone and earth minerals 133.7 130.6 132.2
97 Utilities 119.1 118.2 121.1
98 Electric 122.9 121.0 124.5
99 Gas 105.2 107.4 108.1
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 143.7 143.5 143.0
101 Manufacturing excluding computers
and office equipment 138.1 138.4 137.7
102 Computers, communications
equipment, and semiconductors 1,036.7 1,006.7 999.5
103 Manufacturing excluding computers
and semiconductors 121.5 122.0 121.3
104 Manufacturing excluding computers,
communications equipment, and
semiconductors 118.5 119.0 118.4
Gross value (billions of
1996 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,741.6 2,753.0 2,732.0
106 Final 2,118.1 2,129.7 2,107.0
107 Consumer goods 1,307.9 1,322.5 1,312.1
108 Equipment 811.6 806.5 793.3
109 Intermediate 623.7 623.5 625.0
2001
Group Sept. Oct. Nov.
Index (1992=100)
MAJOR MARKETS
1 Total index 138.5 137.7 137.2
2 Products 127.7 126.8 126.7
3 Final products 130.0 129.2 129.4
4 Consumer goods, total 119.9 119.6 120.0
5 Durable consumer goods 151.8 146.2 152.1
6 Automotive products 152.5 145.4 155.4
7 Autos and trucks 163.9 154.5 170.7
8 Autos, consumer 92.7 86.9 94.8
9 Trucks, consumer 239.8 226.5 251.5
10 Auto parts and allied
goods 134.8 131.3 131.3
11 Other 149.8 145.9 146.9
12 Appliances, televisions,
and air conditioners 288.2 271.9 280.1
13 Carpeting and furniture 118.5 116.4 119.2
14 Miscellaneous home goods 110.5 109.2 107.5
15 Nondurable consumer goods 112.3 113.1 112.3
16 Foods and tobacco 107.7 108.2 108.6
17 Clothing 74.8 74.4 73.2
18 Chemical products 145.9 148.5 148.0
19 Paper products 105.1 103.9 102.1
20 Energy 114.8 116.9 113.4
21 Fuels 113.9 116.1 115.2
22 Residential utilities 115.0 117.0 112.0
23 Equipment 147.1 145.4 145.0
24 Business equipment 168.4 166.9 167.2
25 Information processing 266.0 267.9 269.1
26 Computer and office
equipment 903.0 913.2 927.8
27 Industrial 119.6 119.4 118.3
28 Transit 124.6 119.2 118.6
29 Autos and trucks 143.6 136.2 143.6
30 Other 131.7 129.2 134.2
31 Defense and space equipment 73.8 74.2 74.3
32 Oil and gas well drilling 140.4 127.2 114.4
33 Manufactured homes 102.9 100.2 99.5
34 Intermediate products, total 120.7 119.6 118.9
35 Construction supplies 138.1 134.6 134.0
36 Business supplies 110.4 110.7 109.8
37 Materials 156.5 155.9 154.8
38 Durable goods materials 209.4 207.9 206.5
39 Durable consumer parts 155.3 152.3 155.0
40 Equipment parts 430.4 431.7 427.9
41 Other 123.8 122.5 120.5
42 Basic metal materials 113.3 111.0 106.7
43 Nondurable goods materials 104.2 104.7 103.1
44 Textile materials 89.0 87.2 84.7
45 Paper materials 110.5 112.4 106.9
46 Chemical materials 102.1 103.5 102.2
47 Other 110.2 108.8 110.4
48 Energy materials 103.1 102.6 102.6
49 Primary energy 99.4 98.2 98.8
50 Converted fuel materials 109.3 110.9 109.1
SPECIAL AGGREGATES
51 Total excluding autos and trucks 138.0 137.5 136.6
52 Total excluding motor vehicles
and parts 137.2 136.8 135.8
53 Total excluding computer and
office equipment 132.8 132.0 131.5
54 Consumer goods excluding autos
and trucks 117.6 117.8 117.2
55 Consumer goods excluding energy 120.6 119.9 120.8
56 Business equipment excluding
autos and trucks 171.5 170.8 170.1
57 Business equipment excluding
computer and office equipment 140.6 139.0 139.1
58 Materials excluding energy 173.7 173.0 171.5
MAJOR INDUSTRIES
59 Total index 138.5 137.7 137.2
60 Manufacturing 142.9 142.1 142.0
61 Primary processing 166.6 165.6 164.4
62 Advanced processing 129.8 129.1 129.5
63 Durable goods 176.1 173.9 174.3
64 Lumber and products 116.4 112.8 112.4
65 Furniture and fixtures 135.1 133.5 134.8
66 Stone, clay, and glass products 129.9 130.3 128.8
67 Primary metals 116.4 113.6 110.2
68 Iron and steel 112.7 110.4 107.1
69 Raw steel 105.8 99.5 95.1
70 Nonferrous 121.2 117.6 114.1
71 Fabricated metal products 128.7 127.5 127.2
72 Industrial machinery and
equipment 205.1 202.8 203.4
73 Computer and office equipment 1,035.7 1,049.1 1,067.2
74 Electrical machinery 484.6 484.8 485.1
75 Transportation equipment 128.5 124.6 127.2
76 Motor vehicles and parts 164.2 157.3 165.9
77 Autos and light trucks 156.6 147.4 162.7
78 Aerospace and miscellaneous
transportation equipment 95.0 93.8 91.0
79 Instruments 112.8 113.6 113.7
80 Miscellaneous 114.5 113.6 110.7
81 Nondurable goods 110.5 110.8 110.2
82 Foods 111.7 112.2 113.0
83 Tobacco products 92.7 92.8 92.7
84 Textile mill products 85.9 83.0 81.9
85 Apparel products 89.4 87.8 87.3
86 Paper and products 109.7 108.1 106.2
87 Printing and publishing 99.7 99.8 98.9
88 Chemicals and products 121.0 123.2 122.4
89 Petroleum products 112.1 114.9 114.0
90 Rubber and plastics 136.5 134.4 133.4
91 Leather and products 61.4 60.0 59.2
92 Mining 102.1 99.5 99.0
93 Metal 91.2 85.6 80.0
94 Coal 111.7 106.5 106.6
95 Oil and gas extraction 97.0 94.8 94.5
96 Stone and earth minerals 131.2 129.6 129.5
97 Utilities 118.1 119.4 116.2
98 Electric 121.0 122.3 121.8
99 Gas 106.9 108.0 96.2
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 141.7 141.3 140.6
101 Manufacturing excluding computers
and office equipment 136.2 135.4 135.3
102 Computers, communications
equipment, and semiconductors 994.8 1,002.4 1,002.5
103 Manufacturing excluding computers
and semiconductors 119.9 119.1 118.9
104 Manufacturing excluding computers,
communications equipment, and
semiconductors 117.0 116.3 116.1
Gross value (billions of
1996 dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,694.5 2,669.6 2,679.2
106 Final 2,075.1 2,056.7 2,070.6
107 Consumer goods 1,298.5 1,291.1 1,301.9
108 Equipment 773.1 761.0 763.5
109 Intermediate 619.4 612.9 608.8
2001 2002
Group Dec. (r) Jan. (r)
Index (1992=100)
MAJOR MARKETS
1 Total index 136.7 137.4
2 Products 126.5 126.5
3 Final products 129.1 129.1
4 Consumer goods, total 120.6 120.5
5 Durable consumer goods 156.2 154.5
6 Automotive products 160.7 158.3
7 Autos and trucks 177.8 175.0
8 Autos, consumer 101.1 101.2
9 Trucks, consumer 259.5 253.6
10 Auto parts and allied
goods 133.6 132.0
11 Other 149.7 148.7
12 Appliances, televisions,
and air conditioners 297.9 292.6
13 Carpeting and furniture 118.8 118.3
14 Miscellaneous home goods 108.0 107.9
15 Nondurable consumer goods 112.2 112.4
16 Foods and tobacco 109.0 109.5
17 Clothing 74.7 75.5
18 Chemical products 148.5 148.8
19 Paper products 100.2 98.8
20 Energy 111.6 111.8
21 Fuels 112.6 117.4
22 Residential utilities 110.7 108.5
23 Equipment 142.7 142.9
24 Business equipment 164.3 164.7
25 Information processing 265.5 266.2
26 Computer and office
equipment 941.2 953.3
27 Industrial 114.5 115.9
28 Transit 118.7 116.1
29 Autos and trucks 151.4 150.5
30 Other 130.2 133.1
31 Defense and space equipment 74.7 74.9
32 Oil and gas well drilling 107.8 107.3
33 Manufactured homes 97.7 93.1
34 Intermediate products, total 118.6 118.8
35 Construction supplies 135.6 135.7
36 Business supplies 108.6 108.8
37 Materials 153.6 155.7
38 Durable goods materials 206.0 209.6
39 Durable consumer parts 157.5 160.6
40 Equipment parts 426.7 434.4
41 Other 119.0 120.9
42 Basic metal materials 101.9 108.1
43 Nondurable goods materials 101.1 102.9
44 Textile materials 84.5 85.1
45 Paper materials 103.1 106.4
46 Chemical materials 99.3 101.9
47 Other 111.2 110.5
48 Energy materials 101.6 101.6
49 Primary energy 97.9 97.7
50 Converted fuel materials 107.9 108.5
SPECIAL AGGREGATES
51 Total excluding autos and trucks 135.8 136.6
52 Total excluding motor vehicles
and parts 134.9 135.7
53 Total excluding computer and
office equipment 130.9 131.6
54 Consumer goods excluding autos
and trucks 117.4 117.5
55 Consumer goods excluding energy 121.7 121.6
56 Business equipment excluding
autos and trucks 165.7 166.2
57 Business equipment excluding
computer and office equipment 136.3 136.4
58 Materials excluding energy 170.3 173.2
MAJOR INDUSTRIES
59 Total index 136.7 137.4
60 Manufacturing 141.6 142.5
61 Primary processing 163.5 166.2
62 Advanced processing 129.3 129.3
63 Durable goods 174.1 175.4
64 Lumber and products 113.0 112.6
65 Furniture and fixtures 135.4 134.3
66 Stone, clay, and glass products 126.3 127.0
67 Primary metals 103.6 111.7
68 Iron and steel 94.6 107.7
69 Raw steel 85.5 100.0
70 Nonferrous 114.2 116.8
71 Fabricated metal products 129.1 128.3
72 Industrial machinery and
equipment 200.4 204.2
73 Computer and office equipment 1,087.0 1,101.3
74 Electrical machinery 487.3 492.4
75 Transportation equipment 129.1 128.2
76 Motor vehicles and parts 172.1 171.8
77 Autos and light trucks 169.6 167.1
78 Aerospace and miscellaneous
transportation equipment 88.9 87.3
79 Instruments 112.8 113.4
80 Miscellaneous 114.1 114.4
81 Nondurable goods 109.7 110.3
82 Foods 114.0 114.0
83 Tobacco products 90.8 93.1
84 Textile mill products 82.5 83.0
85 Apparel products 88.8 89.2
86 Paper and products 103.1 104.7
87 Printing and publishing 97.3 96.7
88 Chemicals and products 121.4 122.6
89 Petroleum products 112.2 115.1
90 Rubber and plastics 134.8 134.6
91 Leather and products 58.4 60.2
92 Mining 97.4 97.3
93 Metal 80.1 81.6
94 Coal 105.8 104.5
95 Oil and gas extraction 92.6 92.1
96 Stone and earth minerals 129.8 133.6
97 Utilities 115.2 114.9
98 Electric 119.3 119.8
99 Gas 100.5 97.2
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 139.7 140.7
101 Manufacturing excluding computers
and office equipment 134.8 135.7
102 Computers, communications
equipment, and semiconductors 1,006.0 1,026.0
103 Manufacturing excluding computers
and semiconductors 118.4 119.0
104 Manufacturing excluding computers,
communications equipment, and
semiconductors 115.7 116.4
Gross value
(billions of
1996 dollars,
annual rates)
MAJOR MARKETS
105 Products, total 2,683.2 2,682.7
106 Final 2,075.1 2,073.7
107 Consumer goods 1,313.7 1,311.4
108 Equipment 753.5 754.8
109 Intermediate 608.3 609.2
2002
Group Feb. (r) Mar. (p)
Index (1992=100)
MAJOR MARKETS
1 Total index 137.9 138.8
2 Products 126.8 127.5
3 Final products 129.2 129.8
4 Consumer goods, total 121.0 121.7
5 Durable consumer goods 155.5 156.9
6 Automotive products 158.1 158.5
7 Autos and trucks 173.6 173.1
8 Autos, consumer 110.5 102.3
9 Trucks, consumer 240.9 248.6
10 Auto parts and allied
goods 133.7 135.4
11 Other 151.3 153.9
12 Appliances, televisions,
and air conditioners 300.9 303.1
13 Carpeting and furniture 119.5 121.3
14 Miscellaneous home goods 109.5 112.2
15 Nondurable consumer goods 112.9 113.4
16 Foods and tobacco 110.2 110.8
17 Clothing 75.6 77.1
18 Chemical products 148.1 149.0
19 Paper products 97.3 96.6
20 Energy 114.9 115.5
21 Fuels 116.3 114.8
22 Residential utilities 113.8 115.5
23 Equipment 142.0 142.3
24 Business equipment 163.5 163.7
25 Information processing 266.6 269.5
26 Computer and office
equipment 967.6 979.2
27 Industrial 113.7 114.5
28 Transit 115.5 111.7
29 Autos and trucks 153.7 151.1
30 Other 131.7 134.6
31 Defense and space equipment 75.1 75.9
32 Oil and gas well drilling 105.3 103.7
33 Manufactured homes 93.5 93.5
34 Intermediate products, total 119.6 120.7
35 Construction supplies 137.5 139.2
36 Business supplies 108.9 109.7
37 Materials 156.5 157.9
38 Durable goods materials 210.4 213.1
39 Durable consumer parts 160.2 163.8
40 Equipment parts 438.0 441.5
41 Other 121.4 122.8
42 Basic metal materials 108.8 109.8
43 Nondurable goods materials 103.3 104.7
44 Textile materials 87.7 90.4
45 Paper materials 105.1 106.4
46 Chemical materials 102.7 103.7
47 Other 110.7 112.2
48 Energy materials 102.3 101.9
49 Primary energy 97.5 96.8
50 Converted fuel materials 111.0 111.5
SPECIAL AGGREGATES
51 Total excluding autos and trucks 137.0 138.1
52 Total excluding motor vehicles
and parts 136.1 137.1
53 Total excluding computer and
office equipment 132.0 132.9
54 Consumer goods excluding autos
and trucks 118.1 118.9
55 Consumer goods excluding energy 121.8 122.5
56 Business equipment excluding
autos and trucks 164.4 165.1
57 Business equipment excluding
computer and office equipment 135.1 135.2
58 Materials excluding energy 174.0 176.2
MAJOR INDUSTRIES
59 Total index 137.9 138.8
60 Manufacturing 142.7 143.9
61 Primary processing 167.6 169.6
62 Advanced processing 129.0 129.8
63 Durable goods 175.8 177.5
64 Lumber and products 114.0 116.4
65 Furniture and fixtures 136.4 139.2
66 Stone, clay, and glass products 127.3 129.9
67 Primary metals 112.7 113.8
68 Iron and steel 110.4 110.7
69 Raw steel 101.3 99.8
70 Nonferrous 115.8 117.8
71 Fabricated metal products 128.4 130.1
72 Industrial machinery and
equipment 203.0 205.0
73 Computer and office equipment 1,117.8 1,131.2
74 Electrical machinery 498.1 506.1
75 Transportation equipment 128.0 127.5
76 Motor vehicles and parts 172.7 173.1
77 Autos and light trucks 167.1 165.6
78 Aerospace and miscellaneous
transportation equipment 86.2 84.9
79 Instruments 112.7 113.8
80 Miscellaneous 115.5 119.0
81 Nondurable goods 110.4 111.0
82 Foods 114.3 114.9
83 Tobacco products 95.0 95.4
84 Textile mill products 85.7 87.7
85 Apparel products 89.3 91.6
86 Paper and products 104.3 105.4
87 Printing and publishing 95.3 95.1
88 Chemicals and products 122.9 123.5
89 Petroleum products 115.6 115.3
90 Rubber and plastics 135.3 136.1
91 Leather and products 59.3 59.9
92 Mining 96.6 95.1
93 Metal 80.8 79.9
94 Coal 107.0 99.0
95 Oil and gas extraction 91.1 90.5
96 Stone and earth minerals 131.9 130.3
97 Utilities 118.3 120.2
98 Electric 121.9 124.6
99 Gas 105.3 104.2
SPECIAL AGGREGATES
100 Manufacturing excluding motor
vehicles and parts 140.9 142.1
101 Manufacturing excluding computers
and office equipment 135.9 137.0
102 Computers, communications
equipment, and semiconductors 1,045.1 1,060.0
103 Manufacturing excluding computers
and semiconductors 119.1 120.0
104 Manufacturing excluding computers,
communications equipment, and
semiconductors 116.4 117.3
Gross value
(billions of
1996 dollars,
annual rates)
MAJOR MARKETS
105 Products, total 2,690.9 2,704.7
106 Final 2,075.7 2,082.7
107 Consumer goods 1,316.2 1,322.5
108 Equipment 751.0 751.0
109 Intermediate 615.2 622.1
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in November 2001. The recent annual
revision is described in the March 2002 issue of the Bulletin. For a
description of the methods of estimating industrial production and
capacity utilization, see "Industrial Production and Capacity
Utilization: Historical Revision and Recent Developments," Federal
Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Standard Industrial Classification.
2.14 HOUSING AND CONSTRUCTION
Monthly figures at seasonally adjusted annual rates except as noted
2001
Item 1999 2000 2001 May
Private residential real estate activity
(thousands of units except as noted)
NEW UNITS
1 Permits authorized 1,664 1,592 1,611 1,621
2 One-family 1,247 1,198 1,221 1,205
3 Two-family or more 417 394 390 416
4 Started 1,641 1,569 1,603 1,610
5 One-family 1,302 1,231 1,273 1,255
6 Two-family or more 339 338 329 325
7 Under construction at 953 934 959 1,016
end of period (1)
8 One-family 648 623 638 688
9 Two-family or more 305 310 321 328
10 Completed 1,605 1,574 1,571 1,499
11 One-family 1,270 1,242 1,256 1,225
12 Two-family or more 335 332 315 274
13 Mobile homes shipped 348 250 193 186
Merchant builder
activity in one-family
units
14 Number sold 880 877 908 (r) 882
15 Number for sale at end
of period (1) 315 301 310 (r) 296
Price of units sold
(thousands of
dollars) (2)
16 Median 161.0 169.0 174.1 175.3
17 Average 195.8 207.2 211.9 211.4
EXISTING UNITS
(one-family)
18 Number sold 5,205 5,152 5,296 5,400
Price of units sold
(thousands of
dollars) (2)
19 Median 133.3 139.0 147.8 145.0
20 Average 168.3 176.2 185.3 183.6
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 763,914 817,130 862,261 869,574
22 Private 595,667 641,269 667,012 670,838
23 Residential 349,560 375,268 395,608 394,330
24 Nonresidential 246,107 266,001 271,404 276,508
25 Industrial buildings 32,794 31,984 31,286 31,943
26 Commercial buildings 104,531 116,988 117,050 118,601
27 Other buildings 40,906 44,505 46,088 46,643
28 Public utilities and
other 67,876 72,523 76,982 79,321
29 Public 168,247 175,861 195,249 198,736
30 Military 2,142 2,334 2,346 2,274
31 Highway 52,024 52,851 57,743 60,437
32 Conservation and
development 5,995 6,043 7,169 7,216
33 Other 108,086 114,634 127,991 128,809
2001
Item June July Aug.
Private residential
real estate activity
(thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,587 1,571 1,571
2 One-family 1,225 1,211 1,210
3 Two-family or more 362 360 361
4 Started 1,634 1,660 1,559
5 One-family 1,292 1,290 1,271
6 Two-family or more 342 370 288
7 Under construction at 1,012 1,019 1,009
end of period (1)
8 One-family 688 693 691
9 Two-family or more 324 326 318
10 Completed 1,643 1,583 1,620
11 One-family 1,275 1,269 1,276
12 Two-family or more 368 314 344
13 Mobile homes shipped 198 193 199
Merchant builder
activity in one-family
units
14 Number sold 889 877 871
15 Number for sale at end
of period (1) 301 307 309
Price of units sold
(thousands of
dollars) (2)
16 Median 179.4 175.0 173.7
17 Average 211.7 209.3 207.5
EXISTING UNITS
(one-family)
18 Number sold 5,300 5,300 5,490
Price of units sold
(thousands of
dollars) (2)
19 Median 152.2 151.7 153.7
20 Average 191.1 190.6 193.5
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 861,571 863,742 856,629
22 Private 665,322 667,765 663,108
23 Residential 391,508 395,668 399,558
24 Nonresidential 273,814 272,097 263,550
25 Industrial buildings 32,966 34,645 31,884
26 Commercial buildings 116,842 115,894 110,860
27 Other buildings 46,020 45,549 44,851
28 Public utilities and
other 77,986 76,009 75,955
29 Public 196,249 195,977 193,521
30 Military 2,477 2,375 2,539
31 Highway 61,534 60,470 55,667
32 Conservation and
development 6,592 6,063 7,265
33 Other 125,646 127,069 128,050
2001
Item Sept. Oct. Nov.
Private residential
real estate activity
(thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,528 1,485 1,595
2 One-family 1,164 1,140 1,211
3 Two-family or more 364 345 384
4 Started 1,585 1,518 1,616
5 One-family 1,265 1,225 1,244
6 Two-family or more 320 293 372
7 Under construction at 1,015 1,009 1,008
end of period (1)
8 One-family 691 682 680
9 Two-family or more 324 327 328
10 Completed 1,543 1,577 1,574
11 One-family 1,258 1,317 1,262
12 Two-family or more 285 260 312
13 Mobile homes shipped 206 207 203
Merchant builder
activity in one-family
units
14 Number sold 854 860 937
15 Number for sale at end
of period (1) 310 308 309
Price of units sold
(thousands of
dollars) (2)
16 Median 166.4 171.3 168.1
17 Average 203.3 207.1 206.9
EXISTING UNITS
(one-family)
18 Number sold 5,010 5,270 5,250
Price of units sold
(thousands of
dollars) (2)
19 Median 147.4 145.4 147.1
20 Average 185.2 181.8 182.9
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 851,883 856,097 855,952
22 Private 660,249 656,913 651,509
23 Residential 398,136 400,147 396,518
24 Nonresidential 262,113 256,766 254,991
25 Industrial buildings 31,291 26,126 23,934
26 Commercial buildings 111,249 111,744 109,015
27 Other buildings 44,829 45,998 46,012
28 Public utilities and
other 74,744 72,898 76,030
29 Public 191,635 199,184 204,443
30 Military 2,362 2,343 2,353
31 Highway 53,534 55,982 58,717
32 Conservation and
development 7,344 7,489 7,392
33 Other 128,395 133,370 135,981
2001 2002
Item Dec. Jan. Feb.
Private residential real estate
activity (thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,654 1,721 1,774
2 One-family 1,247 1,335 1,379
3 Two-family or more 407 386 395
4 Started 1,602 1,713 (r) 1,785
5 One-family 1,312 1,346 (r) 1,470
6 Two-family or more 290 367 (r) 315
7 Under construction at 998 1,005 (r) 1,013
end of period (1)
8 One-family 673 674 (r) 682
9 Two-family or more 325 331 (r) 331
10 Completed 1,703 1,594 (r) 1,667
11 One-family 1,361 1,290 (r) 1,376
12 Two-family or more 342 304 (r) 291
13 Mobile homes shipped 206 195 182
Merchant builder
activity in one-family
units
14 Number sold 988 (r) 853 (r) 906
15 Number for sale at end
of period (1) 307 (r) 310 310
Price of units sold
(thousands of
dollars) (2)
16 Median 180.2 (r) 185.1 (r) 182.9
17 Average 228.7 (r) 226.1 (r) 223.8
EXISTING UNITS
(one-family)
18 Number sold 5,200 6,050 5,890
Price of units sold
(thousands of
dollars) (2)
19 Median 153.1 150.3 149.4
20 Average 192.2 190.6 189.6
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 862,567 869,653 879,427
22 Private 654,297 649,853 660,676
23 Residential 399,241 402,828 416,687
24 Nonresidential 255,056 247,025 243,989
25 Industrial buildings 23,888 22,776 21,147
26 Commercial buildings 106,692 104,730 101,508
27 Other buildings 47,121 47,657 47,187
28 Public utilities and
other 77,355 71,862 74,147
29 Public 208,270 219,800 218,751
30 Military 2,152 2,213 2,307
31 Highway 59,840 68,301 65,733
32 Conservation and
development 7,548 8,571 8,465
33 Other 138,730 140,715 142,246
(1.) Not at annual rates.
(2.) Not seasonally adjusted.
(3.) Recent data on value of new construction may not be strictly
comparable with data for previous periods because of changes by the
Bureau of the Census in its estimating techniques. For a description
of these changes, see Construction Reports (C-30-76-5), issued by the
Census Bureau in July 1976.
SOURCE. Bureau of the Census estimates for all series except (1) mobile
homes, which are private, domestic shipments as reported by the
Manufactured Housing Institute and seasonally adjusted by the Census
Bureau, and (2) sales and prices of existing units, which are published
by the National Association of Realtors. All back and current figures
are available from the originating agency. Permit authorizations are
those reported to the Census Bureau from 19,000 jurisdictions beginning
in 1994.
Table 2.14 will no longer be published in the Federal Bulletin after
this issue (June 2002). For information on where to obtain the data
presented in this table, please see the "Announcements" section,
pp. 290-91.
2.15 CONSUMER AND PRODUCER PRICES
Percent changes based on seasonally adjusted data except as noted
Change from
12 months Change from 3 months earlier
earlier (annual rate)
2001 2002
2001 2002
Item Mar. Mar. June Sept. Dec. Mar.
CONSUMER PRICES (2)
(1982-84=100)
1 All items 2.9 1.5 3.9 .7 -1.8 3.0
2 Food 3.1 2.6 3.1 2.8 1.4 3.0
3 Energy items 6.0 -10.7 20.3 -19.1 -43.4 16.5
4 All items less food
and energy 2.7 2.4 2.4 2.6 2.6 2.1
5 Commodities .6 -1.1 -1.6 .6 -1.4 -1.9
6 Services 3.5 3.9 4.3 3.5 4.0 3.8
PRODUCER PRICES
(1982=100)
7 Finished goods 3.0 -1.4 .0 -1.7 -9.6 5.6
8 Consumer foods 3.7 1.8 .6 1.7 -4.2 10.0
9 Consumer energy 8.9 -13.5 -6.9 -17.1 -43.4 26.3
10 Other consumer
goods 1.8 .7 2.6 1.0 -.8 .0
11 Capital equipment .9 -.1 .3 1.2 -2.0 .3
Intermediate
materials
12 Excluding foods and
feeds 2.2 -3.4 -1.5 -5.6 -10.1 3.5
13 Excluding energy 1.0 -1.7 .9 -3.5 -3.5 1.2
Crude materials
14 Foods 7.6 -5.7 -4.0 3.8 -34.7 21.6
15 Energy 38.6 -38.6 -52.0 -63.7 -51.3 67.1
16 Other -10.1 -6.6 -15.3 -2.4 -9.0 1.3
Change from 1 month earlier
2001 2002
Item Nov. Dec. Jan.
CONSUMER PRICES (2)
(1982-84=100)
1 All items -.1 -.1 .2
2 Food -.1 .0 .3
3 Energy items -4.9 -3.0 .9
4 All items less food
and energy .4 .1 .2
5 Commodities .2 -.4 -.3
6 Services .5 .3 .4
PRODUCER PRICES
(1982=100)
7 Finished goods .6 -.5 (r) .1
8 Consumer foods -.8 (r) -.1 (r) .8
9 Consumer energy -3.9 (r) -3.3 (r) .1
10 Other consumer
goods .2 .0 -.1
11 Capital equipment -.1 .0 -.1
Intermediate
materials
12 Excluding foods and
feeds -.7 (r) -.6 (r) -.1
13 Excluding energy -.2 -.2 .0
Crude materials
14 Foods -4.9 (r) -2.1 (r) 4.0
15 Energy 19.9 (r) -15.2 (r) 5.6
16 Other -.3 (r) -.6 (r) -.5
Change from
1 month
earlier
2002
Index
level,
Item Feb. Mar. Mar.
2002 (1)
CONSUMER PRICES (2)
(1982-84=100)
1 All items .2 .3 178.8
2 Food .2 .2 176.1
3 Energy items -.8 3.8 115.6
4 All items less food
and energy .3 .1 189.8
5 Commodities .0 -.1 144.6
6 Services .4 .1 215.9
PRODUCER PRICES
(1982=100)
7 Finished goods .2 1.0 138.9
8 Consumer foods 1.0 .6 143.7
9 Consumer energy .4 5.5 85.6
10 Other consumer
goods -.1 .2 157.4
11 Capital equipment .1 .1 139.5
Intermediate
materials
12 Excluding foods and
feeds -.1 1.0 127.1
13 Excluding energy .0 .3 135.1
Crude materials
14 Foods 2.3 -1.3 102.9
15 Energy -6.5 15.2 87.2
16 Other 1.5 -.7 126.7
(1.) Not seasonally adjusted.
(2.) Figures for consumer prices are for all urban consumers and
reflect a rental-equivalence measure of homeownership.
SOURCE. U.S. Department of Labor, Bureau of Labor Statistics.
Table 2.15 will no longer be published in the Federal Reserve Bulletin
after this issue (June 2002). For information on where to obtain the
data presented in this table, please see the "Announcements" section,
pp. 290-91.
2.16 GROSS DOMESTIC PRODUCT AND INCOME
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
Account 1999 2000 2001
GROSS DOMESTIC PRODUCT
1 Total 9,268.6 9,872.9 10,208.1
By source
2 Personal consumption expenditures 6,250.2 6,728.4 7,064.5
3 Durable goods 760.9 819.6 858.3
4 Nondurable goods 1,831.3 1,989.6 2,055.1
5 Services 3,658.0 3,919.2 4,151.1
6 Gross private domestic investment 1,636.7 1,767.5 1,633.9
7 Fixed investment 1,578.2 1,718.1 1,692.4
8 Nonresidential 1,174.6 1,293.1 1,246.0
9 Structures 283.5 313.6 330.3
10 Producers' durable equipment 891.1 979.5 915.8
11 Residential structures 403.5 425.1 446.3
12 Change in business inventories 58.6 49.4 -58.4
13 Nonfarm 60.1 51.1 -56.8
14 Net exports of goods and services -250.9 -364.0 -329.8
15 Exports 989.8 1,102.9 1,050.4
16 Imports 1,240.6 1,466.9 1,380.1
17 Government consumption expenditures
and gross investment 1,632.5 1,741.0 1,839.5
18 Federal 564.0 590.2 615.7
19 State and local 1,068.5 1,150.8 1,223.8
By major type of product
20 Final sales, total 9,210.0 9,823.6 10,266.6
21 Goods 3,418.6 3,644.8 3,719.6
22 Durable 1,618.8 1,735.2 1,735.4
23 Nondurable 1,799.8 1,909.7 1,984.2
24 Services 4,939.1 5,268.5 5,580.3
25 Structures 852.4 910.3 966.7
26 Change in business inventories 58.6 49.4 -58.4
27 Durable goods 35.3 34.7 -54.8
28 Nondurable goods 23.3 14.7 -3.7
MEMO
29 Total GDP in chained 1996 dollars 8,856.5 9,224.0 9,333.8
NATIONAL INCOME
30 Total 7,462.1 7,980.9 8,217.5
31 Compensation of employees 5,310.7 5,715.2 6,010.0
32 Wages and salaries 4,477.4 4,837.2 5,098.2
33 Government and government
enterprises 724.3 768.4 806.0
34 Other 3,753.1 4,068.8 4,292.2
35 Supplement to wages and salaries 833.4 878.0 911.8
36 Employer contributions for
social insurance 323.6 343.8 358.0
37 Other labor income 509.7 534.2 553.8
38 Proprietors' income (1) 672.0 715.0 743.5
39 Business and professional (1) 645.4 684.4 715.9
40 Farm (1) 26.6 30.6 27.6
41 Rental income of persons (2) 147.7 141.6 142.6
42 Corporate profits (1) 825.2 876.4 767.1
43 Profits before tax (3) 776.3 845.4 698.5
44 Inventory valuation adjustment -2.9 -12.4 2.2
45 Capital consumption adjustment 51.7 43.4 66.4
46 Net interest 506.5 532.7 554.3
2000 2001
Account Q4 Q1 Q2
GROSS DOMESTIC PRODUCT
1 Total 10,027.9 10,141.7 10,202.6
By source
2 Personal consumption expenditures 6,871.4 6,977.6 7,044.6
3 Durable goods 818.7 838.1 844.7
4 Nondurable goods 2,025.1 2,047.1 2,062.3
5 Services 4,027.5 4,092.4 4,137.6
6 Gross private domestic investment 1,780.3 1,722.8 1,669.9
7 Fixed investment 1,741.6 1,748.3 1,706.5
8 Nonresidential 1,318.2 1,311.2 1,260.2
9 Structures 330.9 345.8 338.6
10 Producers' durable equipment 987.3 965.4 921.7
11 Residential structures 423.4 437.0 446.2
12 Change in business inventories 38.7 -25.5 -36.6
13 Nonfarm 37.8 -26.2 -35.3
14 Net exports of goods and services -390.6 -363.8 -347.4
15 Exports 1,121.0 1,117.4 1,079.6
16 Imports 1,511.6 1,481.2 1,427.0
17 Government consumption expenditures
and gross investment 1,766.8 1,805.2 1,835.4
18 Federal 594.2 605.3 609.9
19 State and local 1,172.6 1,199.8 1,225.5
By major type of product
20 Final sales, total 9,989.2 10,167.2 10,239.1
21 Goods 3,670.6 3,718.8 3,715.0
22 Durable 1,740.7 1,755.8 1,737.2
23 Nondurable 1,929.9 1,963.1 1,977.8
24 Services 5,393.0 5,482.8 5,545.7
25 Structures 925.6 965.6 978.4
26 Change in business inventories 38.7 -25.5 -36.6
27 Durable goods 31.5 -31.0 -42.3
28 Nondurable goods 7.2 5.5 5.8
MEMO
29 Total GDP in chained 1996 dollars 9,303.9 9,334.5 9,341.7
NATIONAL INCOME
30 Total 8,124.0 8,169.7 8,207.9
31 Compensation of employees 5,868.9 5,955.7 6,010.8
32 Wages and salaries 4,973.2 5,049.4 5,099.8
33 Government and government
enterprises 776.6 788.8 799.6
34 Other 4,196.6 4,260.6 4,300.2
35 Supplement to wages and salaries 895.7 906.3 911.0
36 Employer contributions for
social insurance 350.8 357.1 358.8
37 Other labor income 544.9 549.3 552.2
38 Proprietors' income (1) 725.2 735.2 745.3
39 Business and professional (1) 693.5 705.4 716.6
40 Farm (1) 31.7 29.8 28.7
41 Rental income of persons (2) 141.7 139.6 139.0
42 Corporate profits (1) 847.6 789.8 759.8
43 Profits before tax (3) 816.5 755.7 738.3
44 Inventory valuation adjustment -7.3 -1.9 -8.8
45 Capital consumption adjustment 38.4 36.0 30.3
46 Net interest 540.6 549.4 553.0
2001
Account Q3 Q4
GROSS DOMESTIC PRODUCT
1 Total 10,224.9 10,263.3
By source
2 Personal consumption expenditures 7,057.6 7,178.2
3 Durable goods 840.6 909.8
4 Nondurable goods 2,057.5 2,053.5
5 Services 4,159.4 4,214.9
6 Gross private domestic investment 1,624.8 1,518.2
7 Fixed investment 1,682.6 1,632.1
8 Nonresidential 1,231.0 1,181.6
9 Structures 334.3 302.5
10 Producers' durable equipment 896.8 879.1
11 Residential structures 451.6 450.4
12 Change in business inventories -57.8 -113.9
13 Nonfarm -55.9 -109.7
14 Net exports of goods and services -294.4 -313.5
15 Exports 1,020.6 983.8
16 Imports 1,315.0 1,297.3
17 Government consumption expenditures
and gross investment 1,836.9 1,880.4
18 Federal 615.7 631.7
19 State and local 1,221.2 1,248.7
By major type of product
20 Final sales, total 10,282.7 10,377.2
21 Goods 3,690.3 3,754.1
22 Durable 1,704.9 1,743.8
23 Nondurable 1,985.4 2,010.3
24 Services 5,626.5 5,666.2
25 Structures 965.9 956.9
26 Change in business inventories -57.8 -113.9
27 Durable goods -55.3 -90.5
28 Nondurable goods -2.5 -23.4
MEMO
29 Total GDP in chained 1996 dollars 9,310.4 9,348.6
NATIONAL INCOME
30 Total 8,189.6 8,302.6
31 Compensation of employees 6,037.7 6,035.7
32 Wages and salaries 5,123.4 5,120.0
33 Government and government
enterprises 812.5 823.2
34 Other 4,311.0 4,296.9
35 Supplement to wages and salaries 914.2 915.6
36 Employer contributions for
social insurance 358.8 357.2
37 Other labor income 555.4 558.5
38 Proprietors' income (1) 752.7 740.8
39 Business and professional (1) 720.5 721.2
40 Farm (1) 32.3 19.6
41 Rental income of persons (2) 144.0 147.7
42 Corporate profits (1) 697.0 822.0
43 Profits before tax (3) 680.6 619.4
44 Inventory valuation adjustment 3.1 16.6
45 Capital consumption adjustment 13.4 186.1
46 Net interest 558.3 556.4
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
(3.) For after-tax profits, dividends, and the like, see table 1.48.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
Table 2.16 will no longer be published in the Federal Reserve Bulletin
after this issue (June 2002). For information on where to obtain the
data presented in this table, please see the "Announcements" section,
pp. 290-91.
2.17 PERSONAL INCOME AND SAVING
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
Account 1999 2000 2001
PERSONAL INCOME AND SAVING
1 Total personal income 7,777.3 8,319.2 8,723.5
2 Wage and salary
disbursements 4,472.2 4,837.2 5,098.2
3 Commodity-producing
industries 1,088.7 1,163.7 1,197.3
4 Manufacturing 782.0 830.1 842.1
5 Distributive industries 1,021.0 1,095.6 1,145.5
6 Service industries 1,638.2 1,809.5 1,949.4
7 Government and government
enterprises 724.3 768.4 806.0
8 Other labor income 509.7 534.2 553.8
9 Proprietors' income (1) 672.0 715.0 743.5
10 Business and
professional (1) 645.4 684.4 715.9
11 Farm (1) 26.6 30.6 27.6
12 Rental income of
persons (2) 147.7 141.6 142.6
13 Dividends 343.1 379.2 416.3
14 Personal interest income 950.0 1,000.6 993.6
15 Transfer payments 1,019.6 1,069.1 1,148.8
16 Old-age survivors,
disability, and health
insurance benefits 588.0 617.3 664.4
17 LESS: Personal
contributions
for social insurance 337.1 357.7 373.3
18 EQUALS: Personal income 7,777.3 8,319.2 8,723.5
19 LESS: Personal tax and
nontax payments 1,159.2 1,288.2 1,306.2
20 EQUALS: Disposable personal
income 6,618.0 7,031.0 7,417.3
21 LESS: Personal outlays 6,457.2 6,963.3 7,298.9
22 EQUALS: Personal saving 160.9 67.7 118.4
MEMO
Per capita (chained 1996
dollars)
23 Gross domestic product 32,441.9 32,652.6 32,646.2
24 Personal consumption
expenditures 21,862.6 22,152.4 22,560.8
25 Disposable personal income 23,150.0 23,148.0 23,687.0
26 Saving rate (percent) 2.4 1.0 1.6
GROSS SAVING
27 Gross saving 1,707.4 1,785.7 1,740.8
28 Gross private saving 1,348.0 1,323.0 1,380.5
29 Personal saving 160.9 67.7 118.4
30 Undistributed corporate
profits (1) 228.7 225.3 134.5
31 Corporate inventory
valuation adjustment -2.9 -12.4 2.2
Capital consumption
allowances
32 Corporate 669.2 727.1 798.6
33 Noncorporate 284.1 302.8 329.0 (r)
34 Gross government saving 359.4 462.8 360.3
35 Federal 210.9 315.0 218.6
36 Consumption of fixed
capital 91.7 96.4 99.6
37 Current surplus or
deficit (-), national
accounts 119.2 218.6 119.0
38 State and local 148.5 147.8 141.8
39 Consumption of fixed
capital 106.4 114.9 124.2
40 Current surplus or
deficit (-), national
accounts 42.1 32.8 17.6
41 Gross Investment 1,634.7 1,655.3 1,590.9
42 Gross private domestic
investment 1,636.7 1,767.5 1,633.9
43 Gross government investment 304.6 318.3 341.1
44 Net foreign investment -306.6 -430.5 -384.1
45 Statistical discrepancy -72.7 -130.4 -149.8
2000 2001
Account Q4 Q1 Q2
PERSONAL INCOME AND SAVING
1 Total personal income 8,519.6 8,640.2 8,714.6
2 Wage and salary
disbursements 4,973.2 5,049.4 5,099.8
3 Commodity-producing
industries 1,195.5 1,206.3 1,204.4
4 Manufacturing 852.2 853.3 850.2
5 Distributive industries 1,125.9 1,140.3 1,148.2
6 Service industries 1,875.2 1,914.0 1,947.6
7 Government and government
enterprises 776.6 788.8 799.6
8 Other labor income 544.9 549.3 552.2
9 Proprietors' income (1) 725.2 735.2 745.3
10 Business and
professional (1) 693.5 705.4 716.6
11 Farm (1) 31.7 29.8 28.7
12 Rental income of
persons (2) 141.7 139.6 139.0
13 Dividends 396.6 404.8 411.9
14 Personal interest income 1,013.1 1,010.9 1,001.0
15 Transfer payments 1,089.0 1,123.1 1,139.4
16 Old-age survivors,
disability, and health
insurance benefits 626.5 651.4 660.1
17 LESS: Personal
contributions
for social insurance 364.1 372.1 374.0
18 EQUALS: Personal income 8,519.6 8,640.2 8,714.6
19 LESS: Personal tax and
nontax payments 1,329.8 1,345.2 1,351.4
20 EQUALS: Disposable personal
income 7,189.8 7,295.0 7,363.2
21 LESS: Personal outlays 7,115.1 7,216.2 7,281.7
22 EQUALS: Personal saving 74.7 78.8 81.5
MEMO
Per capita (chained 1996
dollars)
23 Gross domestic product 32,779.0 32,800.7 (r) 32,729.9 (r)
24 Personal consumption
expenditures 22,340.5 22,448.7 22,522.8
25 Disposable personal income 23,376.0 23,470.0 23,541.0
26 Saving rate (percent) 1.0 1.1 1.1
GROSS SAVING
27 Gross saving 1,799.7 1,754.0 1,750.5
28 Gross private saving 1,332.7 1,307.9 1,321.2
29 Personal saving 74.7 78.8 81.5
30 Undistributed corporate
profits (1) 197.0 147.8 119.5
31 Corporate inventory
valuation adjustment -7.3 -1.9 -8.8
Capital consumption
allowances
32 Corporate 749.7 763.8 785.6
33 Noncorporate 311.3 317.5 334.6
34 Gross government saving 467.1 446.1 429.3
35 Federal 320.5 303.7 286.2
36 Consumption of fixed
capital 97.9 98.4 99.4
37 Current surplus or
deficit (-), national
accounts 222.5 205.3 (r) 186.7 (r)
38 State and local 146.6 142.5 143.2
39 Consumption of fixed
capital 118.0 120.2 121.9
40 Current surplus or
deficit (-), national
accounts 28.6 22.3 21.3
41 Gross Investment 1,649.7 1,633.5 1,607.3
42 Gross private domestic
investment 1,780.3 1,722.8 1,669.9
43 Gross government investment 322.8 330.9 344.0
44 Net foreign investment -453.4 -420.2 -406.6
45 Statistical discrepancy -150.0 -120.5 -143.2
2000
Account Q3 Q4
PERSONAL INCOME AND SAVING
1 Total personal income 8,771.8 8,767.2
2 Wage and salary
disbursements 5,123.4 5,120.0
3 Commodity-producing
industries 1,197.5 1,181.1
4 Manufacturing 841.1 823.9
5 Distributive industries 1,148.1 1,145.2
6 Service industries 1,965.4 1,970.6
7 Government and government
enterprises 812.5 823.2
8 Other labor income 555.4 558.5
9 Proprietors' income (1) 752.7 740.8
10 Business and
professional (1) 720.5 721.2
11 Farm (1) 32.3 19.6
12 Rental income of
persons (2) 144.0 147.7
13 Dividends 420.0 428.4
14 Personal interest income 991.5 970.9
15 Transfer payments 1,159.0 1,173.8
16 Old-age survivors,
disability, and health
insurance benefits 670.8 675.2
17 LESS: Personal
contributions
for social insurance 374.2 372.8
18 EQUALS: Personal income 8,771.8 8,767.2
19 LESS: Personal tax and
nontax payments 1,195.5 1,332.7
20 EQUALS: Disposable personal
income 7,576.4 7,434.5
21 LESS: Personal outlays 7,291.0 7,406.6
22 EQUALS: Personal saving 285.3 27.9
MEMO
Per capita (chained 1996
dollars)
23 Gross domestic product 32,512.9 32,542.7
24 Personal consumption
expenditures 22,502.8 (r) 22,766.9 (r)
25 Disposable personal income 24,157.0 23,580.0
26 Saving rate (percent) 3.8 .4
GROSS SAVING
27 Gross saving 1,751.9 1,706.7
28 Gross private saving 1,534.4 1,358.4
29 Personal saving 285.3 27.9
30 Undistributed corporate
profits (1) 71.7 199.1
31 Corporate inventory
valuation adjustment 3.1 16.6
Capital consumption
allowances
32 Corporate 847.0 798.0
33 Noncorporate 330.4 333.3
34 Gross government saving 217.6 348.3
35 Federal 86.2 198.3
36 Consumption of fixed
capital 99.8 100.9
37 Current surplus or
deficit (-), national
accounts 13.6 (r) 97.4 (r)
38 State and local 131.4 150.0
39 Consumption of fixed
capital 129.5 125.2
40 Current surplus or
deficit (-), national
accounts 1.9 24.8
41 Gross Investment 1,602.3 1,520.7
42 Gross private domestic
investment 1,624.8 1,518.2
43 Gross government investment 331.9 357.7
44 Net foreign investment -354.5 -355.3
45 Statistical discrepancy -149.7 -186.0
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
Table 2.17 will no longer be published in the Federal Reserve
Bulletin after this issue (June 2002). For information on where to
obtain the data presented in this table, please see the
"Announcements" section, pp. 290-91.
International Statistics [] June 2002
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted
except as noted (1)
2000
Item credits
or debits 1999 2000 2001 Q4
1 Balance on current
account -324,364 -444,667 -417,429 -116,324
2 Balance on
goods and
services -261,838 -375,739 -347,810 -100,293
3 Exports 957,353 1,065,702 1,004,589 270,131
4 Imports -1,219,191 -1,441,441 -1,352,399 -370,424
5 Income, net -13,613 -14,792 -19,118 642
6 Investment,
net -8,511 -9,621 -13,754 1,971
7 Direct 67,044 81,231 95,221 25,703
8 Portfolio -75,555 -90,852 -108,975 -23,732
9 Compensation
of employees -5,102 -5,171 -5,364 -1,329
10 Unilateral
current
transfers, net -48,913 -54,136 -50,501 -16,673
11 Change in U.S.
government as-
sets other than
official reserve
assets, net
(increase, -) 2,751 -944 -573 -359
12 Change in U.S.
official
reserve assets
(increase, -) 8,747 -290 -4,911 -1,410
13 Gold 0 0 0 0
14 Special drawing
rights (SDRs) 10 -722 -630 -180
15 Reserve position
in Internatio-
nal Monetary
Fund 5,484 2,308 -3,600 -1,083
16 Foreign
currencies 3,253 -1,876 -681 -147
17 Change in U.S.
private assets
abroad
(increase, -) -448,565 -579,718 -434,079 -179,779
18 Bank-reported
claims (2) -76,263 -138,500 -104,332 -71,574
19 Nonbank-reported
claims -85,700 -163,846 -76,067 -44,514
20 U.S. purchase of
foreign
securities,
net -131,217 -124,935 -97,661 -24,621
21 U.S. direct
investments
abroad, net -155,385 -152,437 -156,019 -39,070
22 Change in foreign
official
assets in
United States
(increase, +) 43,551 37,619 6,092 -3,573
23 U.S. Treasury
securities 12,177 -10,233 10,760 -13,436
24 Other U.S.
government
obligations 20,350 40,909 20,920 8,196
25 Other U.S.
government
liabilities
(2) -2,855 -1,987 -2,482 -293
26 Other U.S.
liabilities
reported by
U.S. banks (2) 12,964 5,803 -28,825 980
27 Other foreign
official
assets (3) 915 3,127 5,719 980
28 Change in foreign
private assets
in United
States
(increase, +) 770,193 986,599 889,367 298,894
29 U.S. bank-
reported
liabilities
(4) 54,232 87,953 95,214 43,365
30 U.S. nonbank-
reported
liabilities 69,075 177,010 98,222 48,344
31 Foreign private
purchases of
U.S. Treasury
securities,
net -20,490 -52,792 15,779 -10,395
32 U.S. currency
flows 22,407 1,129 23,783 6,230
33 Foreign
purchases of
other U.S.
securities,
net 343,963 485,644 498,433 126,643
34 Foreign direct
investments in
United States,
net 301,006 287,655 157,936 84,707
35 Capital account
transactions,
net (5) -3,491 705 726 184
36 Discrepancy -48,822 696 -39,193 2,367
37 Due to seasonal
adjustment ... ... ... 3,856
38 Before seasonal
adjustment -48,822 696 -39,193 -1,489
MEMO
Changes in
official assets
39 U.S. official
reserve assets
(increase, -) 8,747 -290 -4,911 -1,410
40 Foreign official
assets in United
States,
excluding line
25 (increase, +) 46,406 39,606 8,574 -3,280
41 Change in
Organization of
Petroleum
Exporting
Countries
official
assets in United
States (part of
line 22) 1,621 11,582 -1,851 164
2001
Item credits
or debits Q1 Q2 Q3 Q4
1 Balance on current
account -112,129 -107,932 -98,531 -98,835
2 Balance on
goods and
services -95,312 -90,835 -78,450 -83,215
3 Exports 268,614 258,833 243,143 234,000
4 Imports -363,926 -349,668 -321,593 -317,215
5 Income, net -4,991 -4,967 -7,412 -1,744
6 Investment,
net -3,639 -3,637 -6,095 -378
7 Direct 22,698 23,451 21,974 27,102
8 Portfolio -26,337 -27,088 -28,069 -27,480
9 Compensation
of employees -1,352 -1,330 -1,317 -1,366
10 Unilateral
current
transfers, net -11,826 -12,130 -12,669 -13,876
11 Change in U.S.
government as-
sets other than
official reserve
assets, net
(increase, -) 21 -786 21 171
12 Change in U.S.
official
reserve assets
(increase, -) 190 -1,343 -3,559 -199
13 Gold 0 0 0 0
14 Special drawing
rights (SDRs) -189 -156 -145 -140
15 Reserve position
in Internatio-
nal Monetary
Fund 574 -1,015 -3,242 83
16 Foreign
currencies -195 -172 -172 -142
17 Change in U.S.
private assets
abroad
(increase, -) -243,513 -70,228 -13,905 -106,432
18 Bank-reported
claims (2) -109,789 -105 59,116 -53,554
19 Nonbank-reported
claims -61,011 22,232 -40,361 3,073
20 U.S. purchase of
foreign
securities,
net -31,591 -51,109 10,564 -25,525
21 U.S. direct
investments
abroad, net -41,122 -41,246 -43,224 -30,426
22 Change in foreign
official
assets in
United States
(increase, +) 4,898 -20,879 16,877 5,196
23 U.S. Treasury
securities -1,027 -20,783 15,810 16,760
24 Other U.S.
government
obligations 3,574 9,932 -216 7,630
25 Other U.S.
government
liabilities
(2) -1,246 -926 119 -429
26 Other U.S.
liabilities
reported by
U.S. banks (2) 2,594 -10,130 -817 -20,472
27 Other foreign
official
assets (3) 1,003 1,028 1,981 1,707
28 Change in foreign
private assets
in United
States
(increase, +) 342,108 247,806 40,841 258,610
29 U.S. bank-
reported
liabilities
(4) 6,890 44,271 -59,350 103,403
30 U.S. nonbank-
reported
liabilities 130,624 3,375 -3,941 -31,836
31 Foreign private
purchases of
U.S. Treasury
securities,
net 656 -8,678 -9,459 33,260
32 U.S. currency
flows 2,311 2,772 8,203 10,497
33 Foreign
purchases of
other U.S.
securities,
net 148,809 140,512 82,777 126,335
34 Foreign direct
investments in
United States,
net 52,818 65,554 22,611 16,951
35 Capital account
transactions,
net (5) 173 177 182 194
36 Discrepancy 8,252 -46,815 58,074 -58,705
37 Due to seasonal
adjustment 9,008 -1,643 -8,580 1,214
38 Before seasonal
adjustment -756 -45,172 66,654 -59,919
MEMO
Changes in
official assets
39 U.S. official
reserve assets
(increase, -) 190 -1,343 -3,559 -199
40 Foreign official
assets in United
States,
excluding line
25 (increase, +) 6,144 -19,953 16,758 5,625
41 Change in
Organization of
Petroleum
Exporting
Countries
official
assets in United
States (part of
line 22) 589 -1,743 -4,045 3,348
(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.
Summary Statistics
3.11 U.S. FOREIGN TRADE (1)
Millions of dollars; monthly data seasonally adjusted
Item 1999 2000 2001
1 Goods and services,
balance -261,838 -375,739 -347,461
2 Merchandise -345,434 -452,207 -426,266
3 Services 83,596 76,468 78,805
4 Goods and services,
exports 957,353 1,065,702 1,004,609
5 Merchandise 684,553 772,210 720,851
6 Services 272,800 293,492 283,758
7 Goods and services,
imports -1,219,191 -1,441,441 -1,352,070
8 Merchandise -1,029,987 -1,224,417 -1,147,117
9 Services -189,204 -217,024 -204,953
2001
Item Aug. Sept. Oct.
1 Goods and services,
balance -28,390 -19,388 -29,627
2 Merchandise -34,107 -35,566 -35,080
3 Services 5,717 16,178 5,453
4 Goods and services,
exports 83,835 76,957 77,878
5 Merchandise 59,400 55,464 56,457
6 Services 24,435 21,493 21,421
7 Goods and services,
imports -112,225 -96,345 -107,505
8 Merchandise -93,507 -91,030 -91,537
9 Services -18,718 -5,315 -15,968
2001 2002
Item Nov. Dec. Jan. (r) Feb. (p)
1 Goods and services,
balance -28,514 -24,713 -28,245 -31,512
2 Merchandise -34,271 -30,983 -33,779 -36,935
3 Services 5,757 6,270 5,534 5,423
4 Goods and services,
exports 78,099 78,043 78,239 79,189
5 Merchandise 56,015 54,954 55,003 55,118
6 Services 22,084 23,089 23,236 24,071
7 Goods and services,
imports -106,613 -102,756 -106,484 -110,701
8 Merchandise -90,286 -85,937 -88,782 -92,053
9 Services -16,327 -16,819 -17,702 -18,648
(1.) Data show monthly values consistent with quarterly figures in
the U.S. balance of payments accounts.
SOURCE. FT900, U.S. Department of Commerce, Bureau of the Census and
Bureau of Economic Analysis.
Table 3.11 will no longer be published in the Federal Reserve
Bulletin after this issue (June 2002). For information on where to
obtain the data presented in this table, please see the "Announcements"
section, pp. 290-91.
3.12 U.S. RESERVE ASSETS
Millions of dollars, end of period
2001
Asset 1998 1999 2000 Sept.
1 Total 81,761 71,516 67,647 70,963
2 Gold stock (1) 11,046 11,048 11,046 11,045
3 Special drawing rights (2),(3) 10,603 10,336 10,539 10,919
4 Reserve position in
International Monetary
Fund (2) 24,111 17,950 14,824 18,404
5 Foreign currencies (4) 36,001 32,182 31,238 30,595
2001 2002
Asset Oct. Nov. Dec. Jan.
1 Total 69,707 69,158 68,654 67,532
2 Gold stock (1) 11,045 11,045 11,045 11,044
3 Special drawing rights (2),(3) 10,827 10,864 10,774 10,657
4 Reserve position in
International Monetary
Fund (2) 17,787 17,293 17,854 17,602
5 Foreign currencies (4) 30,048 29,956 28,981 28,229
2002
Asset Feb. Mar. Apr. (p)
1 Total 67,357 67,574 67,844
2 Gold stock (1) 11,044 11,044 11,044
3 Special drawing rights (2),(3) 10,763 10,809 10,988
4 Reserve position in
International Monetary
Fund (2) 17,169 17,078 16,184
5 Foreign currencies (4) 28,381 28,643 29,628
(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) July 1974. Values are
based on a weighted average of exchange rates for the currencies of
member countries. From July 1974 through December 1980, sixteen
currencies were used; since January 1981, five currencies have been
used. U.S. SDR holdings and reserve positions in the IMF also have
been valued on this basis since July 1974.
(3.) Includes allocations of SDRs by the International Monetary Fund
on Jan. 1 of the year indicated, as follows: 1970--$867 million;
1971--$717 million; 1972--$710 million; 1979--$1,139 million;
1980--$1,152 million; 1981--$1,093 million; plus net transactions in
SDRs.
(4.) Valued at current market exchange rates.
3.13 FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS (1)
Millions of dollars, end of period
2001
Asset 1998 1999 2000 Sept.
1 Deposits 167 71 215 608
Held in custody
2 U.S. Treasury securities (2) 607,574 632,482 594,094 587,566
3 Earnmarked gold (3) 10,343 9,933 9,451 9,100
2001 2002
Asset Oct. Nov. Dec. Jan.
1 Deposits 75 528 61 162
Held in custody
2 U.S. Treasury securities (2) 599,043 600,129 592,630 592,031
3 Earnmarked gold (3) 9,099 9,099 9,099 9,098
2002
Asset Feb. Mar. Apr. (p)
1 Deposits 89 256 (r) 111
Held in custody
2 U.S. Treasury securities (2) 591,202 593,865 589,531
3 Earnmarked gold (3) 9,098 9,098 9,091
(1.) Excludes deposits and U.S. Treasury securities held for
international and regional organizations
(2.) Marketable U.S. Treasury bills, notes, and bonds and
nonmarketable U.S. Treasury securities, in each case measured at face
(not market) value.
(3.) Held in foreign and international accounts and valued at $42.22
per fine troy ounce; not included in the gold stock of the United
States.
3.15 SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2001
Item 1999 2000 Aug. (r)
1 Total (1) 806,318 845,869 842,400
By type
2 Liabilities reported by
banks in the United
States (2) 138,847 144,593 137,759
3 U.S. Treasury bills and
certificates (3) 156,177 153,010 154,670
U.S. Treasury bonds and
notes
4 Marketable 422,266 415,964 407,323
5 Nonmarketable (4) 6,111 5,348 4,805
6 U.S. securities other than
U.S. Treasury
securities (5) 82,917 126,954 137,843
By area
7 Europe (1) 244,805 253,592 260,829
8 Canada 12,503 12,394 12,037
9 Latin America and Caribbean 73,518 76,753 78,621
10 Asia 463,703 488,170 474,985
11 Africa 7,523 9,165 9,862
12 Other countries 4,266 5,795 6,066
2001
Item Sept. (r) Oct. Nov.
1 Total (1) 852,195 860,445 (r) 867,512 (r)
By type
2 Liabilities reported by
banks in the United
States (2) 143,632 140,003 130,661
3 U.S. Treasury bills and
certificates (3) 153,899 161,081 167,562
U.S. Treasury bonds and
notes
4 Marketable 409,872 412,111 (r) 418,377 (r)
5 Nonmarketable (4) 4,036 3,520 3,398
6 U.S. securities other than
U.S. Treasury
securities (5) 140,756 143,730 147,514
By area
7 Europe (1) 262,503 263,750 (r) 262,119 (r)
8 Canada 11,299 11,780 12,589
9 Latin America and Caribbean 75,712 77,555 77,244
10 Asia 488,485 490,897 498,815
11 Africa 10,246 10,337 9,560
12 Other countries 3,950 6,126 7,185
2001 2002
Item Dec. Jan. Feb. (p)
1 Total (1) 857,786 (r) 861,508 (r) 869,045
By type
2 Liabilities reported by
banks in the United
States (2) 123,125 122,181 (r) 133,846
3 U.S. Treasury bills and
certificates (3) 161,719 166,640 164,076
U.S. Treasury bonds and
notes
4 Marketable 419,438 (r) 416,438 (r) 414,261
5 Nonmarketable (4) 3,411 3,433 3,138
6 U.S. securities other than
U.S. Treasury
securities (5) 150,093 152,816 153,724
By area
7 Europe (1) 256,404 (r) 262,573 (r) 256,502
8 Canada 12,107 12,421 13,126
9 Latin America and Caribbean 77,374 74,931 74,057
10 Asia 497,333 495,025 (r) 509,800
11 Africa 9,646 10,901 10,208
12 Other countries 4,922 5,657 5,352
(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 department by banks (including Federal Reserve Banks)
and securities dealers in the United States, and on the 1994 benchmark
survey of foreign portfolio investment in the United States.
3.16 LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Reported by Banks in the United States (1)
Payable in Foreign Currencies
Millions of dollars, end of period
Item 1998 1999 2000
1 Banks' liabilities 101,125 88,537 77,779
2 Banks' claims 78,162 67,365 56,912
3 Deposits 45,985 34,426 23,315
4 Other claims 32,177 32,939 33,597
5 Claims of banks' domestic
customers (2) 20,718 20,826 24,411
2001
Item Mar. June Sept. Dec.
1 Banks' liabilities 89,394 108,418 93,513 90,532
2 Banks' claims 73,179 77,400 69,068 75,846
3 Deposits 29,902 32,765 36,574 45,382
4 Other claims 43,277 44,635 32,494 30,464
5 Claims of banks' domestic
customers (2) 21,105 21,144 20,885 17,631
(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.
Bank-Reported Data
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 1999 2000 2001
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,408,740 1,511,410 1,640,042 (r)
2 Banks' own liabilities 971,536 1,077,636 1,174,737 (r)
3 Demand deposits 42,884 33,365 33,582
4 Time deposits (2) 163,620 187,883 154,667 (r)
5 Other (3) 155,853 171,401 201,093
6 Own foreign
offices (4) 609,179 684,987 785,395 (r)
7 Banks' custodial
liabilities (5) 437,204 433,774 465,305
8 U.S. Treasury bills
and certificates
(6) 185,676 177,846 185,925
9 Short-term agency
securities (7) n.a. n.a. 59,781
10 Other negotiable
and readily
transferable
instruments (8) 132,617 145,840 80,026
11 Other 118,911 110,088 139,573
12 Nonmonetary
international and
regional
organizations (9) 15,276 12,542 10,804
13 Banks' own
liabilities 14,357 12,140 10,166
14 Demand deposits 98 41 34
15 Time deposits (2) 10,349 6,246 3,755
16 Other (3) 3,910 5,853 6,377
17 Banks' custodial
liabilities (5) 919 402 638
18 U.S. Treasury
bills and
certificates (6) 680 252 577
19 Short-term agency
securities (7) n.a. n.a. 40
20 Other negotiable
and readily
transferable
instruments (8) 233 149 21
21 Other 6 1 0
22 Official institutions
(10) 295,024 297,603 284,844
23 Banks' own
liabilities 97,615 96,989 83,524
24 Demand deposits 3,341 3,952 2,988
25 Time deposits (2) 28,942 35,573 19,471
26 Other (3) 65,332 57,464 61,065
27 Banks' custodial
liabilities (5) 197,409 200,614 201,320
28 U.S. Treasury
bills and
certificates (6) 156,177 153,010 161,719
29 Short-term agency
securities (7) n.a. n.a. 36,351
30 Other negotiable
and readily
transferable
instruments (8) 41,182 47,366 2,180
31 Other 50 238 1,070
32 Banks (11) 900,379 972,932 1,065,965 (r)
33 Banks' own
liabilities 728,492 821,306 907,869 (r)
34 Unaffilliated
foreign banks 119,313 136,319 122,474 (r)
35 Demand deposits 17,583 15,522 13,089
36 Time deposits (2) 48,140 66,904 52,910 (r)
37 Other (3) 53,590 53,893 56,475
38 Own foreign
offices (4) 609,179 684,987 785,395 (r)
39 Banks' custodial
liabilities (5) 171,887 151,626 158,096
40 U.S. Treasury bills
and certificates
(6) 16,796 16,023 11,499
41 Short-term agency
securities (7) n.a. n.a. 2,078
42 Other negotiable
and readily
transferable
instruments (8) 45,695 36,036 21,981
43 Other 109,396 99,567 122,538
44 Other foreigners 198,061 228,333 278,429 (r)
45 Banks' own
liabilities 131,072 147,201 173,178 (r)
46 Demand deposits 21,862 13,850 17,471
47 Time deposits (2) 76,189 79,160 78,531 (r)
48 Other (3) 33,021 54,191 77,176
49 Banks' custodial
liabilities (5) 66,989 81,132 105,251
50 U.S. Treasury
bills and
certificates (6) 12,023 8,561 12,130
51 Short-term agency
securities (7) n.a. n.a. 21,312
52 Other negotiable
and readily
transferable
instruments (8) 45,507 62,289 55,844
53 Other 9,459 10,282 15,965
MEMO
54 Negotiable time
certificates of
deposits in custody
for foreigners 30,345 34,217 20,440
55 Repurchase agreements
(7) n.a. n.a. 152,681
AREA OR COUNTRY
56 Total, all foreigners 1,408,740 1,511,410 1,640,042 (r)
57 Foreign Countries 1,393,464 1,498,867 1,629,238 (r)
58 Europe 441,810 446,788 523,353 (r)
59 Austria 2,789 2,692 2,919
60 Belgium (12) 44,692 33,399 6,548
61 Denmark 2,196 3,000 3,625
62 Finland 1,658 1,411 1,445
63 France 49,790 37,833 49,034
64 Germany 24,753 35,519 22,342
65 Greece 3,748 2,011 2,303
66 Italy 6,775 5,072 6,342 (r)
67 Luxembourg (12) n.a. n.a. 16,875
68 Netherlands 8,143 7,047 12,404
69 Norway 1,327 2,305 3,725
70 Portugal 2,228 2,403 4,029
71 Russia 5,475 19,018 20,782
72 Spain 10,426 7,787 8,791 (r)
73 Sweden 4,652 6,497 3,371
74 Switzerland 63,485 74,635 66,380
75 Turkey 7,842 7,548 7,472
76 United Kingdom 172,687 167,757 206,641
77 Channel Islands and
Isle of Man (13) n.a. n.a. 36,057
78 Yugoslavia (14) 286 276 309
79 Other Europe and
other former
U.S.S.R. (15) 28,858 30,578 41,959
80 Canada 34,214 30,982 27,099
81 Latin America 117,495 120,041 117,494 (r)
82 Argentina 18,633 19,451 10,640 (r)
83 Brazil 12,865 10,852 14,132 (r)
84 Chile 7,008 5,892 4,929
85 Colombia 5,669 4,542 4,667 (r)
86 Ecuador 1,956 2,112 2,373 (r)
87 Guatemala 1,626 1,601 1,876 (r)
88 Mexico 30,717 32,166 39,628 (r)
89 Panama 4,415 4,240 3,588 (r)
90 Peru 1,142 1,427 1,350 (r)
91 Uruguay 2,386 3,003 3,160
92 Venezuela 20,192 24,730 24,915 (r)
93 Other Latin
America (16) 10,886 10,025 6,236
94 Caribbean 461,200 573,337 649,739 (r)
95 Bahamas 135,811 189,298 179,187 (r)
96 Bermuda 7,874 9,636 10,423
97 British West
Indies (17) 312,278 367,197 n.a.
98 Cayman Islands (17) n.a. n.a. 442,452
99 Cuba 75 90 88
100 Jamaica 520 794 1,179
101 Netherlands Antilles 4,047 5,428 3,168 (r)
102 Trinidad and Tobago 595 894 1,266
103 Other Caribbean (16) n.a. n.a. 11,976 (r)
104 Asia 319,489 305,554 293,969
China
105 Mainland 12,325 16,531 10,472
106 Taiwan 13,603 17,352 17,562
107 Hong Kong 27,701 26,462 26,494
108 India 7,367 4,530 3,703
109 Indonesia 6,567 8,514 12,381
110 Israel 7,488 8,053 7,826
111 Japan 159,075 150,415 155,260
112 Korea (South) 12,988 7,955 9,014
113 Philippines 3,268 2,316 1,764
114 Thailand 6,050 3,117 4,742
115 Middle Eastern
oil-exporting
countries (18) 21,314 23,763 20,022
116 Other 41,743 36,546 24,729
117 Africa 9,468 10,824 11,343 (r)
118 Egypt 2,022 2,621 2,774
119 Morocco 179 139 273
120 South Africa 1,495 1,010 833
121 Congo (formerly
Zaire) 14 4 4
122 Oil-exporting
countries (19) 2,914 4,052 4,372
123 Other 2,844 2,998 3,087 (r)
124 Other countries 9,788 11,341 6,241
125 Australia 8,377 10,070 5,590
126 New Zealand (20) n.a. n.a 239
127 All other 1,411 1,271 412
128 Nonmonetary
international
and regional
organizations 15,276 12,543 10,804
129 International (21) 12,876 11,270 9,305
130 Latin American
regional (22) 1,150 740 480
131 Other regional (23) 1,250 533 935
2001
Item Aug. (r) Sept. (r) Oct.
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,512,566 1,503,862 1,585,457 (r)
2 Banks' own liabilities 1,078,889 1,071,272 1,133,038 (r)
3 Demand deposits 33,698 35,785 29,730
4 Time deposits (2) 174,885 178,029 167,864 (r)
5 Other (3) 205,288 197,782 207,758
6 Own foreign
offices (4) 665,018 659,676 727,686 (r)
7 Banks' custodial
liabilities (5) 433,677 432,590 452,419
8 U.S. Treasury bills
and certificates
(6) 174,269 173,237 182,927
9 Short-term agency
securities (7) 63,592 62,117 65,652
10 Other negotiable
and readily
transferable
instruments (8) 75,309 75,332 77,465
11 Other 120,507 121,904 126,375
12 Nonmonetary
international and
regional
organizations (9) 13,214 13,309 10,336 (r)
13 Banks' own
liabilities 12,983 13,075 9,773 (r)
14 Demand deposits 21 36 40
15 Time deposits (2) 2,738 2,299 2,827 (r)
16 Other (3) 10,224 10,740 6,906
17 Banks' custodial
liabilities (5) 231 234 563
18 U.S. Treasury
bills and
certificates (6) 92 118 521
19 Short-term agency
securities (7) 117 102 18
20 Other negotiable
and readily
transferable
instruments (8) 21 13 13
21 Other 1 1 11
22 Official institutions
(10) 292,429 297,531 301,084
23 Banks' own
liabilities 94,056 101,420 96,143
24 Demand deposits 2,934 3,038 2,496
25 Time deposits (2) 26,442 31,997 24,275
26 Other (3) 64,680 66,385 69,372
27 Banks' custodial
liabilities (5) 198,373 196,111 204,941
28 U.S. Treasury
bills and
certificates (6) 154,670 153,899 161,081
29 Short-term agency
securities (7) 41,133 39,961 41,078
30 Other negotiable
and readily
transferable
instruments (8) 2,384 2,230 1,946
31 Other 186 21 836
32 Banks (11) 954,545 942,612 1,011,191 (r)
33 Banks' own
liabilities 810,631 800,631 863,890 (r)
34 Unaffilliated
foreign banks 145,613 140,955 136,204 (r)
35 Demand deposits 14,586 15,675 11,166
36 Time deposits (2) 64,347 64,335 61,244 (r)
37 Other (3) 66,680 60,945 63,794
38 Own foreign
offices (4) 665,018 659,676 727,686 (r)
39 Banks' custodial
liabilities (5) 143,914 141,981 147,301
40 U.S. Treasury bills
and certificates
(6) 9,929 8,784 10,288
41 Short-term agency
securities (7) 2,328 2,629 2,868
42 Other negotiable
and readily
transferable
instruments (8) 25,176 24,176 23,900
43 Other 106,481 106,392 110,245
44 Other foreigners 252,378 250,410 262,846
45 Banks' own
liabilities 161,219 156,146 163,232
46 Demand deposits 16,157 17,036 16,028
47 Time deposits (2) 81,358 79,398 79,518
48 Other (3) 63,704 59,712 67,686
49 Banks' custodial
liabilities (5) 91,159 94,264 99,614
50 U.S. Treasury
bills and
certificates (6) 9,578 10,436 11,037
51 Short-term agency
securities (7) 20,014 19,425 21,688
52 Other negotiable
and readily
transferable
instruments (8) 47,728 48,913 51,606
53 Other 13,839 15,490 15,283
MEMO
54 Negotiable time
certificates of
deposits in custody
for foreigners 23,266 23,228 22,646
55 Repurchase agreements
(7) 127,455 111,109 128,392 (r)
AREA OR COUNTRY
56 Total, all foreigners 1,512,566 1,503,862 1,585,457 (r)
57 Foreign Countries 1,499,352 1,490,553 1,575,120 (r)
58 Europe 432,586 416,536 456,816 (r)
59 Austria 2,413 2,491 2,117
60 Belgium (12) 6,510 7,119 6,960
61 Denmark 3,551 3,213 3,752
62 Finland 1,040 1,276 1,223
63 France 39,663 38,447 49,059
64 Germany 27,761 20,426 23,707
65 Greece 2,597 2,414 2,409
66 Italy 4,739 5,794 5,445
67 Luxembourg (12) 14,432 15,123 14,612
68 Netherlands 11,686 11,164 12,286
69 Norway 3,967 3,606 3,145
70 Portugal 2,831 2,746 3,787
71 Russia 22,704 22,942 23,431
72 Spain 7,309 8,994 9,785
73 Sweden 3,244 3,726 3,461
74 Switzerland 53,159 39,735 39,706
75 Turkey 7,159 6,204 6,749
76 United Kingdom 137,795 139,769 164,664 (r)
77 Channel Islands and
Isle of Man (13) 35,745 36,072 36,392
78 Yugoslavia (14) 290 313 313
79 Other Europe and
other former
U.S.S.R. (15) 43,991 44,962 43,813
80 Canada 28,026 26,251 25,522
81 Latin America 123,238 119,664 122,518 (r)
82 Argentina 11,262 15,128 13,400 (r)
83 Brazil 16,137 17,279 16,400
84 Chile 5,319 5,746 5,415
85 Colombia 4,588 4,454 4,589
86 Ecuador 2,164 2,110 2,101
87 Guatemala 1,476 1,451 1,851
88 Mexico 40,341 37,343 40,367
89 Panama 3,628 3,761 3,741
90 Peru 1,534 1,450 1,509
91 Uruguay 2,996 2,726 3,133 (r)
92 Venezuela 26,987 21,818 23,584
93 Other Latin
America (16) 6,806 6,398 6,428
94 Caribbean 614,817 607,577 649,595 (r)
95 Bahamas 184,768 178,270 212,415
96 Bermuda 7,409 7,887 9,641 (r)
97 British West
Indies (17) n.a. n.a n.a.
98 Cayman Islands (17) 407,066 403,425 406,402
99 Cuba 45 154 86
100 Jamaica 975 971 880
101 Netherlands Antilles 3,339 4,584 6,094
102 Trinidad and Tobago 1,438 1,415 1,509
103 Other Caribbean (16) 9,777 10,871 12,568
104 Asia 280,261 301,197 301,042 (r)
China
105 Mainland 15,989 16,902 17,891
106 Taiwan 22,974 22,276 19,194
107 Hong Kong 23,856 24,591 23,158
108 India 4,062 4,017 3,891
109 Indonesia 11,988 11,903 12,351
110 Israel 7,752 8,995 7,343
111 Japan 132,914 149,724 160,015
112 Korea (South) 7,022 7,733 7,725 (r)
113 Philippines 1,675 1,774 1,756
114 Thailand 3,803 3,379 3,666
115 Middle Eastern
oil-exporting
countries (18) 20,492 20,936 18,443
116 Other 27,734 28,967 25,609
117 Africa 12,143 11,585 12,088
118 Egypt 3,640 3,026 2,910
119 Morocco 168 233 331
120 South Africa 1,273 751 886
121 Congo (formerly
Zaire) 5 2 4
122 Oil-exporting
countries (19) 3,842 4,456 4,980
123 Other 3,215 3,117 2,977
124 Other countries 8,281 7,743 7,539
125 Australia 7,290 6,815 6,584
126 New Zealand (20) 522 437 506
127 All other 469 491 449
128 Nonmonetary
international
and regional
organizations 13,214 13,309 10,337 (r)
129 International (21) 12,090 12,224 8,784
130 Latin American
regional (22) 509 569 680 (r)
131 Other regional (23) 558 476 822
2001
Item Nov. Dec.
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,670,617 1,640,042 (r)
2 Banks' own liabilities 1,197,054 1,174,737 (r)
3 Demand deposits 34,709 33,582
4 Time deposits (2) 155,997 (r) 154,667 (r)
5 Other (3) 220,824 201,093
6 Own foreign
offices (4) 785,524 (r) 785,395 (r)
7 Banks' custodial
liabilities (5) 473,563 465,305
8 U.S. Treasury bills
and certificates
(6) 191,048 185,925
9 Short-term agency
securities (7) 59,723 59,781
10 Other negotiable
and readily
transferable
instruments (8) 79,074 80,026
11 Other 143,718 139,573
12 Nonmonetary
international and
regional
organizations (9) 11,168 10,804
13 Banks' own
liabilities 10,332 10,166
14 Demand deposits 21 34
15 Time deposits (2) 3,133 3,755
16 Other (3) 7,178 6,377
17 Banks' custodial
liabilities (5) 836 638
18 U.S. Treasury
bills and
certificates (6) 779 577
19 Short-term agency
securities (7) 36 40
20 Other negotiable
and readily
transferable
instruments (8) 17 21
21 Other 4 0
22 Official institutions
(10) 298,223 284,844
23 Banks' own
liabilities 92,346 83,524
24 Demand deposits 3,336 2,988
25 Time deposits (2) 18,348 19,471
26 Other (3) 70,662 61,065
27 Banks' custodial
liabilities (5) 205,877 201,320
28 U.S. Treasury
bills and
certificates (6) 167,562 161,719
29 Short-term agency
securities (7) 35,037 36,351
30 Other negotiable
and readily
transferable
instruments (8) 1,715 2,180
31 Other 1,563 1,070
32 Banks (11) 1,084,114 1,065,965 (r)
33 Banks' own
liabilities 921,782 907,869 (r)
34 Unaffilliated
foreign banks 136,258 (r) 122,474 (r)
35 Demand deposits 13,149 13,089
36 Time deposits (2) 56,132 (r) 52,910 (r)
37 Other (3) 66,977 56,475
38 Own foreign
offices (4) 785,524 (r) 785,395 (r)
39 Banks' custodial
liabilities (5) 162,332 158,096
40 U.S. Treasury bills
and certificates
(6) 10,907 11,499
41 Short-term agency
securities (7) 2,470 2,078
42 Other negotiable
and readily
transferable
instruments (8) 23,384 21,981
43 Other 125,571 122,538
44 Other foreigners 277,112 278,429 (r)
45 Banks' own
liabilities 172,594 173,178 (r)
46 Demand deposits 18,203 17,471
47 Time deposits (2) 78,384 78,531 (r)
48 Other (3) 76,007 77,176
49 Banks' custodial
liabilities (5) 104,518 105,251
50 U.S. Treasury
bills and
certificates (6) 11,800 12,130
51 Short-term agency
securities (7) 22,180 21,312
52 Other negotiable
and readily
transferable
instruments (8) 53,958 55,844
53 Other 16,580 15,965
MEMO
54 Negotiable time
certificates of
deposits in custody
for foreigners 22,778 20,440
55 Repurchase agreements
(7) 136,459 152,681
AREA OR COUNTRY
56 Total, all foreigners 1,670,617 1,640,042 (r)
57 Foreign Countries 1,659,449 1,629,238 (r)
58 Europe 522,657 523,353 (r)
59 Austria 2,944 2,919
60 Belgium (12) 6,640 6,548
61 Denmark 4,248 3,625
62 Finland 1,135 1,445
63 France 49,692 49,034
64 Germany 23,111 22,342
65 Greece 2,081 2,303
66 Italy 5,913 6,342 (r)
67 Luxembourg (12) 16,536 16,875
68 Netherlands 13,079 12,404
69 Norway 3,056 3,725
70 Portugal 3,924 4,029
71 Russia 21,243 20,782
72 Spain 10,595 8,791 (r)
73 Sweden 3,705 3,371
74 Switzerland 81,128 66,380
75 Turkey 6,822 7,472
76 United Kingdom 186,351 206,641
77 Channel Islands and
Isle of Man (13) 36,161 36,057
78 Yugoslavia (14) 310 309
79 Other Europe and
other former
U.S.S.R. (15) 43,983 41,959
80 Canada 27,920 27,099
81 Latin America 120,259 117,494 (r)
82 Argentina 10,772 10,640 (r)
83 Brazil 14,289 14,132 (r)
84 Chile 5,297 4,929
85 Colombia 4,643 4,667 (r)
86 Ecuador 2,004 2,373 (r)
87 Guatemala 1,934 1,876 (r)
88 Mexico 40,243 39,628 (r)
89 Panama 3,523 3,588 (r)
90 Peru 1,585 1,350 (r)
91 Uruguay 3,299 3,160
92 Venezuela 26,100 24,915 (r)
93 Other Latin
America (16) 6,570 6,236
94 Caribbean 669,870 649,739 (r)
95 Bahamas 201,674 179,187 (r)
96 Bermuda 9,209 10,423
97 British West
Indies (17) n.a. n.a.
98 Cayman Islands (17) 439,303 442,452
99 Cuba 85 88
100 Jamaica 930 1,179
101 Netherlands Antilles 4,070 3,168 (r)
102 Trinidad and Tobago 1,768 1,266
103 Other Caribbean (16) 12,831 11,976 (r)
104 Asia 299,103 293,969
China
105 Mainland 12,378 10,472
106 Taiwan 21,116 17,562
107 Hong Kong 26,305 26,494
108 India 3,916 3,703
109 Indonesia 11,758 12,381
110 Israel 7,742 7,826
111 Japan 157,763 155,260
112 Korea (South) 8,098 9,014
113 Philippines 2,109 1,764
114 Thailand 4,792 4,742
115 Middle Eastern
oil-exporting
countries (18) 18,620 20,022
116 Other 24,506 24,729
117 Africa 11,222 11,343 (r)
118 Egypt 3,110 2,774
119 Morocco 344 273
120 South Africa 1,018 833
121 Congo (formerly
Zaire) 1 4
122 Oil-exporting
countries (19) 3,967 4,372
123 Other 2,782 3,087 (r)
124 Other countries 8,418 6,241
125 Australia 7,799 5,590
126 New Zealand (20) 218 239
127 All other 401 412
128 Nonmonetary
international
and regional
organizations 11,168 10,804
129 International (21) 9,410 9,305
130 Latin American
regional (22) 462 480
131 Other regional (23) 1,234 935
2002
Item Jan. Feb. (p)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,583,211 (r) 1,621,750
2 Banks' own liabilities 1,109,709 (r) 1,140,850
3 Demand deposits 31,690 33,407
4 Time deposits (2) 152,661 (r) 146,489
5 Other (3) 210,042 (r) 216,208
6 Own foreign
offices (4) 715,316 (r) 744,746
7 Banks' custodial
liabilities (5) 473,502 480,900
8 U.S. Treasury bills
and certificates
(6) 190,033 187,733
9 Short-term agency
securities (7) 52,515 (r) 66,056
10 Other negotiable
and readily
transferable
instruments (8) 80,270 (r) 82,153
11 Other 150,684 144,958
12 Nonmonetary
international and
regional
organizations (9) 17,155 15,453
13 Banks' own
liabilities 16,227 14,553
14 Demand deposits 35 31
15 Time deposits (2) 7,581 (r) 5,482
16 Other (3) 8,611 (r) 9,040
17 Banks' custodial
liabilities (5) 928 900
18 U.S. Treasury
bills and
certificates (6) 883 859
19 Short-term agency
securities (7) 24 24
20 Other negotiable
and readily
transferable
instruments (8) 21 17
21 Other 0 0
22 Official institutions
(10) 288,821 (r) 297,922
23 Banks' own
liabilities 87,346 (r) 85,434
24 Demand deposits 2,877 2,442
25 Time deposits (2) 15,141 16,265
26 Other (3) 69,328 (r) 66,727
27 Banks' custodial
liabilities (5) 201,475 212,488
28 U.S. Treasury
bills and
certificates (6) 166,640 164,076
29 Short-term agency
securities (7) 31,445 45,085
30 Other negotiable
and readily
transferable
instruments (8) 2,191 2,307
31 Other 1,199 1,020
32 Banks (11) 1,004,583 (r) 1,035,034
33 Banks' own
liabilities 836,093 (r) 872,563
34 Unaffilliated
foreign banks 120,777 (r) 127,817
35 Demand deposits 10,376 12,812
36 Time deposits (2) 51,849 (r) 47,784
37 Other (3) 58,552 67,221
38 Own foreign
offices (4) 715,316 (r) 744,746
39 Banks' custodial
liabilities (5) 168,490 162,471
40 U.S. Treasury bills
and certificates
(6) 10,181 10,289
41 Short-term agency
securities (7) 2,525 (r) 1,916
42 Other negotiable
and readily
transferable
instruments (8) 22,959 (r) 24,117
43 Other 132,825 126,149
44 Other foreigners 272,652 273,341
45 Banks' own
liabilities 170,043 168,300
46 Demand deposits 18,402 18,122
47 Time deposits (2) 78,090 76,958
48 Other (3) 73,551 73,220
49 Banks' custodial
liabilities (5) 102,609 105,041
50 U.S. Treasury
bills and
certificates (6) 12,329 12,509
51 Short-term agency
securities (7) 18,521 19,031
52 Other negotiable
and readily
transferable
instruments (8) 55,099 55,712
53 Other 16,660 17,789
MEMO
54 Negotiable time
certificates of
deposits in custody
for foreigners 22,095 (r) 22,831
55 Repurchase agreements
(7) 130,178 132,753
AREA OR COUNTRY
56 Total, all foreigners 1,583,211 (r) 1,621,750
57 Foreign Countries 1,566,056 (r) 1,606,297
58 Europe 506,078 (r) 518,182
59 Austria 2,996 (r) 3,047
60 Belgium (12) 6,567 (r) 6,561
61 Denmark 3,148 2,969
62 Finland 1,371 1,158
63 France 45,083 (r) 41,150
64 Germany 23,753 23,707
65 Greece 2,702 2,852
66 Italy 5,587 5,101
67 Luxembourg (12) 15,100 14,727
68 Netherlands 13,350 13,875
69 Norway 4,975 4,870
70 Portugal 4,366 4,795
71 Russia 19,758 20,857
72 Spain 12,559 (r) 10,214
73 Sweden 3,099 (r) 3,695
74 Switzerland 80,804 94,693
75 Turkey 8,087 10,540
76 United Kingdom 172,450 171,584
77 Channel Islands and
Isle of Man (13) 36,472 37,224
78 Yugoslavia (14) 298 318
79 Other Europe and
other former
U.S.S.R. (15) 43,513 44,245
80 Canada 27,986 27,341
81 Latin America 115,223 (r) 114,683
82 Argentina 9,843 10,379
83 Brazil 13,095 12,879
84 Chile 5,265 (r) 5,144
85 Colombia 4,482 4,568
86 Ecuador 2,214 2,353
87 Guatemala 1,854 1,815
88 Mexico 40,118 40,555
89 Panama 3,511 3,601
90 Peru 1,335 1,341
91 Uruguay 2,643 2,535
92 Venezuela 24,205 22,904
93 Other Latin
America (16) 6,658 6,609
94 Caribbean 615,975 627,602
95 Bahamas 166,576 164,647
96 Bermuda 9,568 11,825
97 British West
Indies (17) n.a. n.a.
98 Cayman Islands (17) 423,065 435,265
99 Cuba 88 89
100 Jamaica 1,103 1,101
101 Netherlands Antilles 3,465 3,112
102 Trinidad and Tobago 1,977 1,570
103 Other Caribbean (16) 10,133 9,993
104 Asia 280,288 (r) 299,169
China
105 Mainland 8,473 (r) 21,138
106 Taiwan 16,931 21,470
107 Hong Kong 25,212 23,705
108 India 3,761 4,162
109 Indonesia 11,890 11,575
110 Israel 10,710 9,416
111 Japan 146,906 151,675
112 Korea (South) 6,712 6,526
113 Philippines 1,901 1,495
114 Thailand 4,649 5,037
115 Middle Eastern
oil-exporting
countries (18) 17,838 16,919
116 Other 25,305 26,051
117 Africa 12,969 12,125
118 Egypt 4,267 3,958
119 Morocco 242 196
120 South Africa 1,131 923
121 Congo (formerly
Zaire) 6 2
122 Oil-exporting
countries (19) 4,160 3,918
123 Other 3,163 3,128
124 Other countries 7,537 7,195
125 Australia 6,752 6,371
126 New Zealand (20) 370 (r) 418
127 All other 415 (r) 406
128 Nonmonetary
international
and regional
organizations 17,155 15,453
129 International (21) 15,521 (r) 13,714
130 Latin American
regional (22) 443 520
131 Other regional (23) 1,113 (r) 1,140
(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 1999 2000 2001
1 Total, all
foreigners 793,139 904,642 1,052,652 (r)
2 Foreign countries 788,576 899,956 1,047,725 (r)
3 Europe 311,686 378,115 461,605 (r)
4 Austria 2,643 2,926 5,006
5 Belgium (2) 10,193 5,399 6,339
6 Denmark 1,669 3,272 1,105
7 Finland 2,020 7,382 10,350
8 France 29,142 40,035 60,670
9 Germany 29,205 36,834 29,902
10 Greece 806 646 330
11 Italy 8,496 7,629 4,205
12 Luxembourg (2) n.a. n.a. 1,267
13 Netherlands 11,810 17,043 15,927
14 Norway 1,000 5,012 6,249
15 Portugal 1,571 1,382 1,603
16 Russia 713 517 594
17 Spain 3,796 2,603 3,231
18 Sweden 3,264 9,226 12,544
19 Switzerland 79,158 82,085 87,363
20 Turkey 2,617 3,059 2,124
21 United Kingdom 115,971 144,938 201,556 (r)
22 Channel Islands
and Isle of
Man (3) n.a. n.a. 4,478
23 Yugoslavia (4) 50 50 n.a.
24 Other Europe and
other former
U.S.S.R. (5) 7,562 8,077 6,762 (r)
25 Canada 37,206 39,837 54,844 (r)
26 Latin America 74,040 76,561 69,762
27 Argentina 10,894 11,519 10,763
28 Brazil 16,987 20,567 19,434
29 Chile 6,607 5,815 5,317
30 Colombia 4,524 4,370 3,602
31 Ecuador 760 635 495
32 Guatemala 1,135 1,244 1,495
33 Mexico 17,899 17,415 16,522
34 Panama 3,387 2,933 3,066
35 Peru 2,529 2,807 2,185
36 Uruguay 801 673 447
37 Venezuela 3,494 3,518 3,077
38 Other Latin
America (6) 5,023 5,065 3,359
39 Caribbean 281,128 319,403 367,655 (r)
40 Bahamas 99,066 114,090 101,034 (r)
41 Bermuda 8,007 9,260 7,900
42 British West
Indies (7) 167,189 189,289 n.a.
43 Cayman Islands
(7) n.a. n.a. 247,086 (r)
44 Cuba 0 0 n.a.
45 Jamaica 295 355 418
46 Netherlands
Antilles 5,982 5,801 6,729
47 Trinidad and
Tobago 589 608 931
48 Other Caribbean
(6) n.a. n.a. 3,557
49 Asia 75,143 77,829 85,882 (r)
China
50 Mainland 2,110 1,606 2,073
51 Taiwan 1,390 2,247 4,407
52 Hong Kong 5,903 6,669 9,995 (r)
53 India 1,738 2,178 1,348
54 Indonesia 1,776 1,914 1,752
55 Israel 1,875 2,729 4,396
56 Japan 28,641 34,974 34,125
57 Korea (South) 9,426 7,776 10,622
58 Philippines 1,410 1,784 2,587
59 Thailand 1,515 1,381 2,499
60 Middle Eastern
oil-exporting
countries (8) 14,267 9,346 7,882
61 Other 5,092 5,225 4,196 (r)
62 Africa 2,268 2,094 2,135
63 Egypt 258 201 416
64 Morocco 352 204 106
65 South Africa 622 309 710
66 Congo (formerly
Zaire) 24 0 n.a.
67 Oil-exporting
countries (9) 276 471 167
68 Other 736 909 736
69 Other countries 7,105 6,117 5,842 (r)
70 Australia 6,824 5,868 5,455 (r)
71 New Zealand (10) n.a. n.a. 349
72 All other 281 249 38
73 Nonmonetary
international and
regional or-
ganizations (11) 4,563 4,686 4,927
2001
Area or country Aug. (r) Sept. (r) Oct. (r)
1 Total, all
foreigners 951,522 963,630 1,016,715
2 Foreign countries 946,971 959,154 1,011,820
3 Europe 413,032 405,920 433,898
4 Austria 3,130 3,116 3,848
5 Belgium (2) 4,473 4,549 6,424
6 Denmark 1,569 1,804 933
7 Finland 8,350 10,917 12,065
8 France 56,434 51,670 60,732
9 Germany 47,732 37,770 39,605
10 Greece 276 302 333
11 Italy 6,177 6,598 7,750
12 Luxembourg (2) 1,010 911 1,088
13 Netherlands 16,309 18,412 17,256
14 Norway 3,821 4,870 3,617
15 Portugal 1,227 1,286 1,164
16 Russia 875 942 863
17 Spain 3,432 4,470 3,713
18 Sweden 11,501 12,067 11,800
19 Switzerland 79,942 72,578 71,968
20 Turkey 2,410 2,323 2,324
21 United Kingdom 157,042 162,534 178,428
22 Channel Islands
and Isle of
Man (3) 3,162 3,900 3,783
23 Yugoslavia (4) 4 4 4
24 Other Europe and
other former
U.S.S.R. (5) 4,156 4,897 6,200
25 Canada 42,851 50,327 48,773
26 Latin America 76,369 74,649 74,177
27 Argentina 13,090 12,071 11,603
28 Brazil 22,128 22,449 21,427
29 Chile 5,407 5,283 5,423
30 Colombia 3,725 3,609 3,564
31 Ecuador 506 508 507
32 Guatemala 1,275 1,265 1,568
33 Mexico 17,535 16,896 17,272
34 Panama 3,198 3,223 3,426
35 Peru 2,418 2,437 2,435
36 Uruguay 456 461 492
37 Venezuela 3,417 3,222 3,221
38 Other Latin
America (6) 3,214 3,225 3,239
39 Caribbean 329,933 340,772 360,024
40 Bahamas 99,066 114,744 124,546
41 Bermuda 6,803 7,005 11,440
42 British West
Indies (7) n.a. n.a. n.a.
43 Cayman Islands
(7) 207,997 204,541 211,484
44 Cuba n.a. n.a. n.a.
45 Jamaica 367 369 380
46 Netherlands
Antilles 10,228 9,818 7,647
47 Trinidad and
Tobago 1,086 940 858
48 Other Caribbean
(6) 4,386 3,355 3,669
49 Asia 77,553 80,636 87,331
China
50 Mainland 2,207 3,478 4,118
51 Taiwan 2,754 3,195 4,244
52 Hong Kong 5,776 6,400 5,161
53 India 1,625 1,600 1,561
54 Indonesia 1,975 1,944 1,965
55 Israel 3,621 3,621 3,980
56 Japan 34,934 32,301 39,940
57 Korea (South) 10,754 11,852 11,137
58 Philippines 1,740 2,092 1,505
59 Thailand 1,439 1,204 1,470
60 Middle Eastern
oil-exporting
countries (8) 8,262 7,943 8,290
61 Other 2,466 5,006 3,960
62 Africa 2,050 1,877 1,878
63 Egypt 401 412 381
64 Morocco 149 152 148
65 South Africa 661 492 443
66 Congo (formerly
Zaire) 2 n.a. n.a.
67 Oil-exporting
countries (9) 128 151 169
68 Other 709 670 737
69 Other countries 5,183 4,973 5,739
70 Australia 4,807 3,980 5,402
71 New Zealand (10) 264 329 275
72 All other 112 664 62
73 Nonmonetary
international and
regional or-
ganizations (11) 4,551 4,476 4,904
2001 2002
Area or country Nov. (r) Dec. (r) Jan. (r) Feb. (p)
1 Total, all
foreigners 1,052,755 1,052,652 1,004,242 1,005,148
2 Foreign countries 1,047,497 1,047,725 1,000,392 1,001,340
3 Europe 498,286 461,605 464,060 466,073
4 Austria 3,412 5,006 4,063 3,604
5 Belgium (2) 7,994 6,339 6,426 5,603
6 Denmark 2,507 1,105 1,649 1,024
7 Finland 11,010 10,350 14,431 14,410
8 France 58,769 60,670 56,285 54,467
9 Germany 36,295 29,902 31,189 29,134
10 Greece 327 330 327 348
11 Italy 6,321 4,205 4,453 4,329
12 Luxembourg (2) 1,392 1,267 1,601 2,884
13 Netherlands 17,173 15,927 13,880 15,151
14 Norway 4,603 6,249 4,779 4,435
15 Portugal 1,709 1,603 1,969 1,998
16 Russia 680 594 687 612
17 Spain 5,398 3,231 5,363 4,987
18 Sweden 12,897 12,544 11,924 13,260
19 Switzerland 121,798 87,363 95,331 114,379
20 Turkey 2,243 2,124 2,147 2,183
21 United Kingdom 194,372 201,556 196,217 181,818
22 Channel Islands
and Isle of
Man (3) 3,819 4,478 3,747 3,986
23 Yugoslavia (4) n.a. n.a. n.a. n.a.
24 Other Europe and
other former
U.S.S.R. (5) 5,567 6,762 7,592 7,461
25 Canada 51,197 54,844 50,425 52,755
26 Latin America 72,924 69,762 69,420 68,764
27 Argentina 11,350 10,763 10,437 10,307
28 Brazil 20,453 19,434 19,700 19,353
29 Chile 5,522 5,317 5,200 5,166
30 Colombia 3,598 3,602 3,563 3,547
31 Ecuador 504 495 465 491
32 Guatemala 1,522 1,495 1,417 1,651
33 Mexico 16,996 16,522 17,035 16,561
34 Panama 3,415 3,066 2,765 2,788
35 Peru 2,369 2,185 2,125 2,090
36 Uruguay 540 447 437 471
37 Venezuela 3,306 3,077 3,181 3,288
38 Other Latin America
(6) 3,349 3,359 3,095 3,051
39 Caribbean 326,271 367,655 327,814 326,948
40 Bahamas 97,916 101,034 91,440 90,050
41 Bermuda 6,015 7,900 7,018 6,449
42 British Wests
Indies (7) n.a. n.a. n.a. n.a.
43 Cayman Islands
(7) 208,198 247,086 217,311 220,013
44 Cuba n.a. n.a. n.a. n.a.
45 Jamaica 406 418 383 384
46 Netherlands
Antilles 9,583 6,729 7,599 6,046
47 Trinidad and Tobago 880 931 940 955
48 Other Caribbean (6) 3,273 3,557 3,123 3,051
49 Asia 91,337 85,882 80,650 78,905
China
50 Mainland 4,427 2,073 3,526 2,418
51 Taiwan 3,897 4,407 3,422 4,101
52 Hong Kong 7,984 9,995 7,670 7,319
53 India 1,609 1,348 1,167 1,217
54 Indonesia 1,935 1,752 1,768 1,644
55 Israel 4,592 4,396 4,211 4,195
56 Japan 34,665 34,125 30,973 30,722
57 Korea (South) 14,742 10,622 12,689 12,745
58 Philippines 2,021 2,587 1,951 1,681
59 Thailand 1,283 2,499 1,743 745
60 Middle Eastern
oil-exporting
countries (8) 10,088 7,882 7,559 7,341
61 Other 4,094 4,196 3,971 4,777
62 Africa 2,108 2,135 2,043 1,937
63 Egypt 477 416 324 331
64 Morocco 116 106 100 97
65 South Africa 571 710 700 640
66 Congo (formerly
Zaire) 1 n.a. n.a. n.a.
67 Oil-exporting
countries (9) 179 167 195 201
68 Other 764 736 724 668
69 Other countries 5,374 5,842 5,980 5,958
70 Australia 4,964 5,455 5,336 5,207
71 New Zealand (10) 330 349 603 732
72 All other 80 38 41 19
73 Nonmonetary
international and
regional or-
ganizations (11) 5,258 4,927 3,850 3,808
(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 1999 2000 2001
1 Total 944,937 1,095,869 1,255,031 (r)
2 Banks' claims 793,139 904,642 1,052,652 (r)
3 Foreign public
borrowers 35,090 37,907 48,999
4 Own foreign
offices (2) 529,682 630,137 745,834 (r)
5 Unaffilliated
foreign banks 97,186 95,243 100,575 (r)
6 Deposits 34,538 23,886 26,189 (r)
7 Other 62,648 71,357 74,386 (r)
8 All other
foreigners 131,181 141,355 157,244 (r)
9 Claims of banks'
domestic
customers (3) 151,798 191,227 202,379
10 Deposits 88,006 100,352 92,546
11 Negotiable and
readily
transferable
instruments (4) 51,161 78,147 94,016
12 Outstanding
collections and
other claims 12,631 12,728 15,817
MEMO
13 Customer liability
on acceptances 4,553 4,257 2,588
14 Banks' loans under
resale
agreements (5) n.a. n.a. 137,984
15 Dollar deposits in
banks abroad,
reported by
nonbanking
business
enterprises in
the United
States (6) 31,125 53,153 60,711
2001
Type of claim Aug. Sept. (r) Oct. (r)
1 Total ... 1,136,410 ...
2 Banks' claims 951,522 (r) 963,630 1,016,715
3 Foreign public
borrowers 47,159 (r) 45,780 49,592
4 Own foreign
offices (2) 655,431 (r) 663,840 699,281
5 Unaffilliated
foreign banks 84,348 (r) 92,533 95,647
6 Deposits 15,610 (r) 20,022 25,663
7 Other 68,738 (r) 72,511 69,984
8 All other
foreigners 164,584 (r) 161,477 172,195
9 Claims of banks'
domestic
customers (3) ... 172,780 ...
10 Deposits ... 71,537 ...
11 Negotiable and
readily
transferable
instruments (4) ... 91,408 ...
12 Outstanding
collections and
other claims ... 9,835 ...
MEMO
13 Customer liability
on acceptances ... 2,468 ...
14 Banks' loans under
resale
agreements (5) 117,224 111,844 144,250
15 Dollar deposits in
banks abroad,
reported by
nonbanking
business
enterprises in
the United
States (6) 60,299 54,932 57,698
2001 2002
Type of claim Nov. (r) Dec. (r) Jan. (r) Feb. (p)
1 Total ... 1,255,031 ... ...
2 Banks' claims 1,052,755 1,052,652 1,004,242 1,005,148
3 Foreign public
borrowers 56,820 48,999 52,924 48,538
4 Own foreign
offices (2) 721,650 745,834 697,236 716,045
5 Unaffilliated
foreign banks 100,608 100,575 98,381 91,992
6 Deposits 29,998 26,189 26,926 25,841
7 Other 70,610 74,386 71,455 66,151
8 All other
foreigners 173,677 157,244 155,701 148,573
9 Claims of banks'
domestic
customers (3) ... 202,379 ... ...
10 Deposits ... 92,546 ... ...
11 Negotiable and
readily
transferable
instruments (4) ... 94,016 ... ...
12 Outstanding
collections and
other claims ... 15,817 ... ...
MEMO
13 Customer liability
on acceptances ... 2,588 ... ...
14 Banks' loans under
resale
agreements (5) 144,901 137,984 119,466 123,049
15 Dollar deposits in
banks abroad,
reported by
nonbanking
business
enterprises in
the United
States (6) 66,930 60,711 54,563 55,165
(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
Maturity, by borrower
and area (2) 1998 1999 2000
1 Total 250,418 267,082 274,009
By borrower
2 Maturity of one year or
less 186,526 187,894 186,103
3 Foreign public borrowers 13,671 22,811 21,399
4 All other foreigners 172,855 165,083 164,704
5 Maturity of more than one
year 63,892 79,188 87,906
6 Foreign public borrowers 9,839 12,013 15,838
7 All other foreigners 54,053 67,175 72,068
By area
Maturity of one year or
less
8 Europe 68,679 80,842 142,464
9 Canada 10,968 7,859 8,323
10 Latin America and
Caribbean 81,766 69,498 151,840
11 Asia 18,007 21,802 43,371
12 Africa 1,835 1,122 2,263
13 All other (3) 5,271 6,771 11,717
Maturity of more than one
year
14 Europe 14,923 22,951 57,770
15 Canada 3,140 3,192 3,174
16 Latin America and
Caribbean 33,442 39,051 82,684
17 Asia 10,018 11,257 19,536
18 Africa 1,232 1,065 1,567
19 All other (3) 1,137 1,672 5,954
2001
Maturity, by borrower
and area (2) Mar. June Sept. Dec.
1 Total 307,564 302,060 298,514 304,595
By borrower
2 Maturity of one year or
less 194,943 191,738 178,185 199,825
3 Foreign public borrowers 23,701 26,621 19,994 27,274
4 All other foreigners 171,242 165,117 158,191 172,551
5 Maturity of more than one
year 112,621 110,322 120,329 104,770
6 Foreign public borrowers 24,991 25,018 24,903 21,064
7 All other foreigners 87,630 85,304 95,426 83,706
By area
Maturity of one year or
less
8 Europe 89,553 80,682 70,700 83,087
9 Canada 7,050 8,624 7,897 10,062
10 Latin America and
Caribbean 72,242 72,848 75,289 70,419
11 Asia 20,730 24,124 19,381 29,642
12 Africa 970 971 707 1,144
13 All other (3) 4,398 4,489 4,211 5,471
Maturity of more than one
year
14 Europe 38,259 39,944 41,594 34,064
15 Canada 3,252 3,995 4,292 3,633
16 Latin America and
Caribbean 50,151 47,068 52,517 47,237
17 Asia 17,187 15,240 17,491 15,185
18 Africa 763 774 798 769
19 All other (3) 3,009 3,301 3,637 3,882
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Maturity is time remaining until maturity.
(3.) Includes nonmonetary international and regional organizations.
3.21 CLAIMS ON FOREIGN COUNTRIES Held by U.S. and Foreign Offices of
U.S. Banks (1)
Billions of dollars, end of period
1999 2000
Area or country 1997 1998 Dec. Mar.
1 Total 721.8 1,051.6 945.5 955.0
2 G-10 countries and Switzer-
land 242.8 217.7 243.4 272.4
3 Belgium and Luxembourg 11.0 10.7 14.3 14.2
4 France 15.4 18.4 29.0 27.1
5 Germany 28.6 30.9 38.7 37.3
6 Italy 15.5 11.5 18.1 19.9
7 Netherlands 6.2 7.8 12.3 17.0
8 Sweden 3.3 2.3 3.0 3.9
9 Switzerland 7.2 8.5 10.3 10.1
10 United Kingdom 113.4 85.4 79.3 101.9
11 Canada 13.7 16.8 16.3 17.3
12 Japan 28.6 25.4 22.1 23.5
13 Other industrialized coun-
tries 65.5 69.0 68.4 62.7
14 Austria 1.5 1.4 3.5 2.6
15 Denmark 2.4 2.2 2.6 1.5
16 Finland 1.3 1.4 .9 .8
17 Greece 5.1 5.9 6.0 5.7
18 Norway 3.6 3.2 3.3 3.0
19 Portugal .9 1.4 1.0 1.0
20 Spain 12.6 13.7 12.1 11.3
21 Turkey 4.5 4.8 4.8 5.1
22 Other Western Europe 8.3 10.4 6.8 8.4
23 South Africa 2.2 4.4 3.8 4.8
24 Australia 23.1 20.3 23.5 18.6
25 OPEC (2) 26.0 27.1 31.4 28.9
26 Ecuador 1.3 1.3 .8 .7
27 Venezuela 2.5 3.2 2.8 3.0
28 Indonesia 6.7 4.7 4.2 3.9
29 Middle East countries 14.4 17.0 23.1 21.1
30 African countries 1.2 1.0 .5 .2
31 Non-OPEC developing coun-
tries 139.2 143.4 149.4 154.6
Latin America
32 Argentina 18.4 23.1 23.2 22.4
33 Brazil 28.6 24.7 27.7 28.1
34 Chile 8.7 8.3 7.4 8.2
35 Colombia 3.4 3.2 2.5 2.5
36 Mexico 17.4 18.9 18.7 18.3
37 Peru 2.0 2.2 1.7 1.9
38 Other 4.1 5.4 5.9 6.5
Asia
China
39 Mainland 3.2 3.0 3.6 4.6
40 Taiwan 9.5 13.3 12.0 12.6
41 India 4.9 5.5 7.7 7.9
42 Israel .7 1.1 1.8 3.3
43 Korea (South) 15.6 13.7 15.2 17.7
44 Malaysia 5.1 5.6 6.1 6.5
45 Philippines 5.7 5.1 6.2 5.3
46 Thailand 5.4 4.7 4.1 4.3
47 Other Asia 4.3 2.9 2.9 2.0
Africa
48 Egypt .9 1.3 1.4 1.4
49 Morocco .6 .5 .4 .3
50 Zaire .0 .0 .0 .0
51 Other Africa (3) .8 1.0 1.0 .9
52 Eastern Europe 9.1 5.5 5.2 6.3
53 Russia (4) 5.1 2.2 1.6 1.7
54 Other 4.0 3.3 3.6 4.7
55 Offshore banking centers 140.2 93.9 59.9 53.9
56 Bahamas 24.2 35.4 13.7 14.4
57 Bermuda 9.8 4.6 8.0 7.3
58 Cayman Islands and other
British West Indies 43.4 12.8 1.3 .0
59 Netherlands Antilles 14.6 2.6 1.7 2.5
60 Panama (5) 3.1 3.9 3.9 3.4
61 Lebanon .1 .1 .1 .1
62 Hong Kong, China 32.2 23.3 21.0 22.2
63 Singapore 12.7 11.1 10.1 4.1
64 Other (6) .1 .2 .1 .1
65 Miscellaneous and unallo-
cated (7) 99.1 495.1 387.9 376.1
2000 2001
Area or country June Sept. Dec. Mar.
1 Total 991.0 954.4 1,027.3 1,149.3 (r)
2 G-10 countries and Switzer-
land 313.6 280.3 300.7 340.7 (r)
3 Belgium and Luxembourg 13.9 13.0 14.2 15.3
4 France 32.6 29.0 29.6 30.1 (r)
5 Germany 31.5 37.6 45.1 48.7 (r)
6 Italy 20.5 18.6 21.3 20.4
7 Netherlands 16.0 17.5 18.4 22.3
8 Sweden 3.5 4.3 3.6 4.7
9 Switzerland 13.8 10.9 13.2 13.9
10 United Kingdom 138.2 112.8 115.6 142.0 (r)
11 Canada 18.2 18.5 16.7 15.4
12 Japan 25.4 18.1 23.0 28.0
13 Other industrialized coun-
tries 75.3 73.7 74.5 75.8 (r)
14 Austria 2.8 3.5 4.1 3.9 (r)
15 Denmark 1.2 1.8 1.9 3.1
16 Finland 1.2 2.8 1.5 1.4
17 Greece 6.7 6.4 8.3 4.1
18 Norway 4.6 8.5 8.3 10.2
19 Portugal 2.0 1.5 2.0 1.9
20 Spain 12.2 10.5 10.3 12.7 (r)
21 Turkey 5.6 5.6 5.9 5.1
22 Other Western Europe 7.9 8.3 6.5 7.3
23 South Africa 4.6 4.2 3.6 4.1
24 Australia 26.3 20.5 22.1 21.9
25 OPEC (2) 32.1 31.4 28.9 28.3 (r)
26 Ecuador .7 .6 .6 .6
27 Venezuela 2.9 2.9 2.5 2.7
28 Indonesia 4.1 4.4 4.6 4.4
29 Middle East countries 23.8 22.4 20.3 20.1
30 African countries .7 1.2 .8 .5
31 Non-OPEC developing coun-
tries 158.1 149.5 145.5 150.5 (r)
Latin America
32 Argentina 21.6 21.4 21.4 20.9
33 Brazil 28.3 28.5 28.8 29.4 (r)
34 Chile 8.1 7.3 7.6 7.3
35 Colombia 2.4 2.4 2.4 2.4
36 Mexico 20.4 17.5 15.7 16.7
37 Peru 2.1 2.1 2.0 2.0
38 Other 6.7 6.2 6.3 8.7 (r)
Asia
China
39 Mainland 3.8 3.4 2.9 3.2
40 Taiwan 12.6 12.8 10.8 11.2 (r)
41 India 8.2 5.8 9.1 6.5
42 Israel 1.5 1.1 2.7 2.5 (r)
43 Korea (South) 21.7 21.4 15.5 19.9 (r)
44 Malaysia 6.8 6.9 7.1 6.5
45 Philippines 5.3 4.7 5.1 5.2
46 Thailand 4.0 3.9 4.0 4.2
47 Other Asia 1.9 1.7 1.9 1.7
Africa
48 Egypt 1.3 1.1 1.1 1.2
49 Morocco .3 .4 .3 .3
50 Zaire .0 .0 .0 .0
51 Other Africa (3) .9 .8 .7 .7
52 Eastern Europe 9.4 9.0 10.1 9.5
53 Russia (4) 1.5 1.4 1.0 1.5
54 Other 7.9 7.6 9.1 8.0
55 Offshore banking centers 60.6 59.4 76.3 72.0
56 Bahamas 8.8 9.3 13.5 7.0
57 Bermuda 6.3 6.3 9.0 7.9
58 Cayman Islands and other
British West Indies 5.1 5.9 14.6 14.3
59 Netherlands Antilles 2.6 1.9 1.9 2.9
60 Panama (5) 3.3 2.5 3.2 3.8
61 Lebanon .1 .1 .1 .1
62 Hong Kong, China 20.7 20.6 18.7 21.5
63 Singapore 13.6 12.6 15.2 14.6 (r)
64 Other (6) .1 .1 .2 .1
65 Miscellaneous and unallo-
cated (7) 342.1 351.1 391.2 472.4
2001
Sept.
Area or country June (r) Dec.
1 Total 1,154.9 (r) 1,303.3 989.4
2 G-10 countries and Switzer-
land 349.8 (r) 306.8 479.9
3 Belgium and Luxembourg 13.3 (r) 14.6 19.4
4 France 36.3 (r) 34.9 40.0
5 Germany 54.5 (r) 43.9 45.2
6 Italy 23.7 22.8 21.0
7 Netherlands 18.7 20.9 19.5
8 Sweden 4.7 5.2 5.4
9 Switzerland 13.5 13.0 12.6
10 United Kingdom 129.5 (r) 98.7 257.8
11 Canada 22.0 (r) 21.1 20.3
12 Japan 33.6 (r) 31.8 38.7
13 Other industrialized coun-
tries 70.4 (r) 70.9 70.4
14 Austria 3.6 4.5 4.8
15 Denmark 2.7 2.7 2.6
16 Finland 1.2 1.3 1.1
17 Greece 3.6 3.6 3.2
18 Norway 7.9 6.2 8.1
19 Portugal 1.4 1.4 1.6
20 Spain 12.5 (r) 13.8 12.2
21 Turkey 4.5 4.1 3.9
22 Other Western Europe 6.9 7.3 8.4
23 South Africa 3.8 4.4 3.9
24 Australia 22.1 21.7 20.6
25 OPEC (2) 27.2 (r) 27.7 27.5
26 Ecuador .6 .6 .6
27 Venezuela 2.7 (r) 2.7 2.5
28 Indonesia 4.2 (r) 4.0 3.8
29 Middle East countries 19.3 20.1 20.3
30 African countries .4 .4 .3
31 Non-OPEC developing coun-
tries 160.0 (r) 204.0 193.7
Latin America
32 Argentina 20.1 (r) 19.6 19.6
33 Brazil 31.2 (r) 31.3 28.5
34 Chile 7.4 (r) 6.7 7.3
35 Colombia 2.6 (r) 2.6 2.6
36 Mexico 16.8 (r) 60.0 56.0
37 Peru 2.0 1.9 1.9
38 Other 8.3 (r) 8.2 9.0
Asia
China
39 Mainland 6.7 5.9 5.0
40 Taiwan 10.7 10.9 12.3
41 India 11.8 14.1 6.9
42 Israel 2.6 (r) 3.9 4.7
43 Korea (South) 19.3 (r) 19.5 18.7
44 Malaysia 6.8 (r) 6.1 6.7
45 Philippines 5.4 5.2 5.6
46 Thailand 4.2 3.9 5.1
47 Other Asia 1.8 1.6 1.9
Africa
48 Egypt 1.2 1.4 1.2
49 Morocco .3 .3 .1
50 Zaire .0 .0 .0
51 Other Africa (3) .7 .8 .7
52 Eastern Europe 9.5 10.2 10.1
53 Russia (4) 1.5 1.6 1.6
54 Other 8.0 8.5 8.5
55 Offshore banking centers 59.7 (r) 75.7 73.7
56 Bahamas .0 1.1 7.5
57 Bermuda 5.8 (r) 7.6 7.7
58 Cayman Islands and other
British West Indies 12.6 23.4 16.9
59 Netherlands Antilles 1.7 5.8 3.0
60 Panama (5) 4.2 (r) 4.4 4.1
61 Lebanon .1 .1 .1
62 Hong Kong, China 22.4 (r) 17.9 18.9
63 Singapore 12.9 15.3 15.5
64 Other (6) .1 .0 .1
65 Miscellaneous and unallo-
cated (7) 478.4 608.1 133.9
(1.) The banking offices covered by these data include U.S. offices and
foreign branches of U.S. banks, including U.S. banks that are
subsidiaries of foreign banks. Offices not covered include U.S.
agencies and branches of foreign banks. Beginning March 1994, the data
include large foreign subsidiaries of U.S. banks. The data also include
other types of U.S. depository institutions as well as some types of
brokers and dealers. To eliminate duplication, the data are adjusted to
exclude the claims on foreign branches held by a U.S. office or another
foreign branch of the same banking institution.
These data are on a gross claims basis and do not necessarily reflect
the ultimate country risk or exposure of U.S. banks. More complete data
on the country risk exposure of U.S. banks are available in the
quarterly Country Exposure Lending Survey published by the Federal
Financial Institutions Examination Council.
(2.) Organization of Petroleum Exporting Countries, shown individually;
other members of OPEC (Algeria, Gabon, Iran, Iraq, Kuwait, Libya,
Nigeria, Qatar, Saudi Arabia, and United Arab Emirates), and Bahrain
and Oman (not formally members of OPEC).
(3.) Excludes Liberia. Beginning March 1994 includes Namibia.
(4.) As of December 1992, excludes other republics of the former
Soviet Union.
(5.) Includes Canal Zone.
(6.) Foreign branch claims only.
(7.) Includes New Zealand, Liberia, and international and regional
organizations.
3.22 LIABILITIES TO UNAFFILIATED FOREIGNERS Reported by Nonbanking
Business Enterprises in the United States
Millions of dollars, end of period
2000
Type of liability,
and area or country 1998 1999 2000 Sept.
1 Total 46,570 53,044 73,904 76,644
2 Payable in dollars 36,668 37,605 48,931 51,451
3 Payable in foreign currencies 9,902 15,415 24,973 25,193
By type
4 Financial liabilities 19,255 27,980 47,419 49,895
5 Payable in dollars 10,371 13,883 25,246 26,159
6 Payable in foreign currencies 8,884 14,097 22,173 23,736
7 Commercial liabilities 27,315 25,064 26,485 26,749
8 Trade payables 10,978 12,857 14,293 13,918
9 Advance receipts and other
liabilities 16,337 12,207 12,192 12,831
10 Payable in dollars 26,297 23,722 23,685 25,292
11 Payable in foreign currencies 1,018 1,318 2,800 1,457
By area or country
Financial liabilities
12 Europe 12,589 23,241 34,172 36,175
13 Belgium and Luxembourg 79 31 147 169
14 France 1,097 1,659 1,480 1,299
15 Germany 2,063 1,974 2,168 2,132
16 Netherlands 1,406 1,996 2,016 2,040
17 Switzerland 155 147 104 178
18 United Kingdom 5,980 16,521 26,362 28,601
19 Canada 693 284 411 249
20 Latin America and Caribbean 1,495 892 4,125 3,447
21 Bahamas 7 1 6 105
22 Bermuda 101 5 1,739 1,182
23 Brazil 152 126 148 132
24 British West Indies 957 492 406 501
25 Mexico 59 25 26 35
26 Venezuela 2 0 2 0
27 Asia 3,785 3,437 7,965 9,320
28 Japan 3,612 3,142 6,216 4,782
29 Middle Eastern oil-expor-
ting countries (1) 0 4 11 7
30 Africa 28 28 52 48
31 Oil-exporting countries (2) 0 0 0 0
32 All other (3) 665 98 694 656
Commercial liabilities
33 Europe 10,030 9,262 9,629 9,411
34 Belgium and Luxembourg 278 140 293 201
35 France 920 672 979 716
36 Germany 1,392 1,131 1,047 1,023
37 Netherlands 429 507 300 424
38 Switzerland 499 626 502 647
39 United Kingdom 3,697 3,071 2,847 2,951
40 Canada 1,390 1,775 1,933 1,889
41 Latin America and Caribbean 1,618 2,310 2,381 2,443
42 Bahamas 14 22 31 15
43 Bermuda 198 152 281 377
44 Brazil 152 145 114 167
45 British West Indies 10 48 76 19
46 Mexico 347 887 841 1,079
47 Venezuela 202 305 284 124
48 Asia 12,342 9,886 10,983 11,133
49 Japan 3,827 2,609 2,757 1,998
50 Middle Eastern oil-expor-
ting countries (1) 2,852 2,551 2,832 3,706
51 Africa 794 950 948 1,220
52 Oil-exporting countries (2) 393 499 483 663
53 Other (3) 1,141 881 614 653
2000 2001
Type of liability,
and area or country Dec. Mar. June Sept.
1 Total 73,904 73,655 68,113 53,526
2 Payable in dollars 48,931 46,526 41,819 35,347
3 Payable in foreign currencies 24,973 27,129 26,294 18,179
By type
4 Financial liabilities 47,419 47,808 41,908 27,502
5 Payable in dollars 25,246 23,201 17,655 11,415
6 Payable in foreign currencies 22,173 24,607 24,253 16,087
7 Commercial liabilities 26,485 25,847 26,205 26,024
8 Trade payables 14,293 12,481 13,213 11,740
9 Advance receipts and other
liabilities 12,192 13,366 12,992 14,284
10 Payable in dollars 23,685 23,325 24,164 23,932
11 Payable in foreign currencies 2,800 2,522 2,041 2,092
By area or country
Financial liabilities
12 Europe 34,172 37,422 32,785 22,083
13 Belgium and Luxembourg 147 112 98 76
14 France 1,480 1,553 1,222 1,538
15 Germany 2,168 2,624 2,463 1,994
16 Netherlands 2,016 2,169 1,763 1,998
17 Switzerland 104 103 93 92
18 United Kingdom 26,362 28,812 25,363 14,819
19 Canada 411 718 628 436
20 Latin America and Caribbean 4,125 3,632 2,100 414
21 Bahamas 6 18 40 5
22 Bermuda 1,739 1,837 461 47
23 Brazil 148 26 21 22
24 British West Indies 406 1,657 1,508 243
25 Mexico 26 31 20 24
26 Venezuela 2 1 1 3
27 Asia 7,965 5,324 5,639 3,869
28 Japan 6,216 4,757 3,297 3,442
29 Middle Eastern oil-expor-
ting countries (1) 11 15 8 9
30 Africa 52 38 61 59
31 Oil-exporting countries (2) 0 0 0 5
32 All other (3) 694 674 695 672
Commercial liabilities
33 Europe 9,629 8,792 8,723 8,855
34 Belgium and Luxembourg 293 251 297 160
35 France 979 689 665 892
36 Germany 1,047 982 1,017 966
37 Netherlands 300 349 343 343
38 Switzerland 502 623 697 683
39 United Kingdom 2,847 2,542 2,706 2,296
40 Canada 1,933 1,625 2,043 1,569
41 Latin America and Caribbean 2,381 2,166 2,292 2,879
42 Bahamas 31 5 31 44
43 Bermuda 281 280 367 570
44 Brazil 114 239 279 312
45 British West Indies 76 64 21 28
46 Mexico 841 792 762 884
47 Venezuela 284 243 218 242
48 Asia 10,983 11,542 11,384 11,114
49 Japan 2,757 2,431 2,377 2,421
50 Middle Eastern oil-expor-
ting countries (1) 2,832 3,359 3,087 3,053
51 Africa 948 1,072 1,115 938
52 Oil-exporting countries (2) 483 566 539 471
53 Other (3) 614 650 648 669
2001
Type of liability, Dec.
and area or country (p)
1 Total 66,718
2 Payable in dollars 42,957
3 Payable in foreign currencies 23,761
By type
4 Financial liabilities 41,034
5 Payable in dollars 18,763
6 Payable in foreign currencies 22,271
7 Commercial liabilities 25,684
8 Trade payables 11,820
9 Advance receipts and other
liabilities 13,864
10 Payable in dollars 24,194
11 Payable in foreign currencies 1,490
By area or country
Financial liabilities
12 Europe 31,806
13 Belgium and Luxembourg 154
14 France 2,841
15 Germany 2,344
16 Netherlands 1,954
17 Switzerland 94
18 United Kingdom 22,852
19 Canada 955
20 Latin America and Caribbean 2,858
21 Bahamas 157
22 Bermuda 960
23 Brazil 35
24 British West Indies 1,627
25 Mexico 36
26 Venezuela 2
27 Asia 5,042
28 Japan 3,269
29 Middle Eastern oil-expor-
ting countries (1) 10
30 Africa 53
31 Oil-exporting countries (2) 5
32 All other (3) 320
Commercial liabilities
33 Europe 9,230
34 Belgium and Luxembourg 99
35 France 735
36 Germany 908
37 Netherlands 1,163
38 Switzerland 790
39 United Kingdom 2,280
40 Canada 1,633
41 Latin America and Caribbean 2,729
42 Bahamas 52
43 Bermuda 591
44 Brazil 290
45 British West Indies 45
46 Mexico 901
47 Venezuela 166
48 Asia 10,532
49 Japan 2,592
50 Middle Eastern oil-expor-
ting countries (1) 2,642
51 Africa 836
52 Oil-exporting countries (2) 436
53 Other (3) 724
(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.
Nonbank-Reported Data
3.23 CLAIMS ON UNAFFILIATED FOREIGNERS Reported by Nonbanking Business
Enterprises in the United States
Millions of dollars, end of period
2000
Type of claim, and
area or country 1998 1999 2000 Sept.
1 Total 77,462 76,669 90,157 94,803
2 Payable in dollars 72,171 69,170 79,558 82,872
3 Payable in foreign currencies 5,291 7,472 10,599 11,931
By type
4 Financial claims 46,260 40,231 53,031 58,303
5 Deposits 30,199 18,566 23,374 30,928
6 Payable in dollars 28,549 16,373 21,015 27,974
7 Payable in foreign curren-
cies 1,650 2,193 2,359 2,954
8 Other financial claims 16,061 21,665 29,657 27,375
9 Payable in dollars 14,049 18,593 25,142 20,541
10 Payable in foreign curren-
cies 2,012 3,072 4,515 6,834
11 Commercial claims 31,202 36,438 37,126 36,500
12 Trade receivables 27,202 32,629 33,104 31,530
13 Advance payments and other
claims 4,000 3,809 4,022 4,970
14 Payable in dollars 29,573 34,204 33,401 34,357
15 Payable in foreign currencies 1,629 2,207 3,725 2,143
By area or country
Financial claims
16 Europe 12,294 13,023 23,136 23,706
17 Belgium and Luxembourg 661 529 296 304
18 France 864 967 1,206 1,477
19 Germany 304 504 848 696
20 Netherlands 875 1,229 1,396 2,486
21 Switzerland 414 643 699 626
22 United Kingdom 7,766 7,561 15,900 16,191
23 Canada 2,503 2,553 4,576 7,517
24 Latin America and Caribbean 27,714 18,206 19,317 21,691
25 Bahamas 403 1,593 1,353 1,358
26 Bermuda 39 11 19 22
27 Brazil 835 1,476 1,827 1,568
28 British West Indies 24,388 12,099 12,596 15,722
29 Mexico 1,245 1,798 2,448 2,280
30 Venezuela 55 48 87 101
31 Asia 3,027 5,457 4,697 4,002
32 Japan 1,194 3,262 1,631 1,726
33 Middle Eastern oil-expor-
ting countries (1) 9 23 80 85
34 Africa 159 286 411 284
35 Oil-exporting countries (2) 16 15 57 3
36 All other (3) 563 706 894 1,103
Commercial claims
37 Europe 13,246 16,389 15,938 16,486
38 Belgium and Luxembourg 238 316 452 393
39 France 2,171 2,236 3,095 2,921
40 Germany 1,822 1,960 1,982 2,159
41 Netherlands 467 1,429 1,729 1,310
42 Switzerland 483 610 763 684
43 United Kingdom 4,769 5,827 4,502 5,193
44 Canada 2,617 2,757 3,502 2,953
45 Latin America and Caribbean 6,296 5,959 5,851 5,788
46 Bahamas 24 20 37 75
47 Bermuda 536 390 376 387
48 Brazil 1,024 905 957 981
49 British West Indies 104 181 137 55
50 Mexico 1,545 1,678 1,507 1,612
51 Venezuela 401 439 328 379
52 Asia 7,192 9,165 9,630 8,986
53 Japan 1,681 2,074 2,796 2,074
54 Middle Eastern oil-expor-
ting countries (1) 1,135 1,625 1,024 1,199
55 Africa 711 631 672 895
56 Oil-exporting countries (2) 165 171 180 392
57 Other (3) 1,140 1,537 1,572 1,392
2000 2001
Type of claim, and
area or country Dec. Mar. June Sept.
1 Total 90,157 107,705 97,946 94,076
2 Payable in dollars 79,558 94,932 88,166 83,292
3 Payable in foreign currencies 10,599 12,773 9,780 10,784
By type
4 Financial claims 53,031 74,255 61,891 60,015
5 Deposits 23,374 25,419 25,381 22,391
6 Payable in dollars 21,015 23,244 23,174 19,888
7 Payable in foreign curren-
cies 2,359 2,175 2,207 2,503
8 Other financial claims 29,657 48,836 36,510 37,624
9 Payable in dollars 25,142 41,417 32,038 32,076
10 Payable in foreign curren-
cies 4,515 7,419 4,472 5,548
11 Commercial claims 37,126 33,450 36,055 34,061
12 Trade receivables 33,104 28,958 31,107 29,328
13 Advance payments and other
claims 4,022 4,492 4,948 4,733
14 Payable in dollars 33,401 30,271 32,954 31,328
15 Payable in foreign currencies 3,725 3,179 3,101 2,733
By area or country
Financial claims
16 Europe 23,136 31,855 23,975 23,069
17 Belgium and Luxembourg 296 430 262 372
18 France 1,206 3,142 1,376 1,682
19 Germany 848 1,401 1,163 1,112
20 Netherlands 1,396 2,313 1,072 954
21 Switzerland 699 613 653 665
22 United Kingdom 15,900 20,938 15,913 15,670
23 Canada 4,576 4,847 4,787 4,254
24 Latin America and Caribbean 19,317 28,791 24,403 26,099
25 Bahamas 1,353 561 818 649
26 Bermuda 19 1,729 426 80
27 Brazil 1,827 1,648 1,877 2,065
28 British West Indies 12,596 21,227 17,505 19,234
29 Mexico 2,448 2,461 2,633 2,910
30 Venezuela 87 38 66 80
31 Asia 4,697 7,215 6,829 5,274
32 Japan 1,631 3,867 1,698 1,761
33 Middle Eastern oil-expor-
ting countries (1) 80 86 76 100
34 Africa 411 430 476 456
35 Oil-exporting countries (2) 57 42 35 83
36 All other (3) 894 1,117 1,421 891
Commercial claims
37 Europe 15,938 13,775 14,582 14,381
38 Belgium and Luxembourg 452 395 404 354
39 France 3,095 3,479 3,192 3,062
40 Germany 1,982 1,586 1,993 1,977
41 Netherlands 1,729 757 863 844
42 Switzerland 763 634 472 514
43 United Kingdom 4,502 3,562 3,819 3,571
44 Canada 3,502 3,392 3,496 3,116
45 Latin America and Caribbean 5,851 5,144 6,107 5,590
46 Bahamas 37 20 39 35
47 Bermuda 376 407 650 526
48 Brazil 957 975 1,364 1,183
49 British West Indies 137 130 135 124
50 Mexico 1,507 1,350 1,416 1,442
51 Venezuela 328 292 321 301
52 Asia 9,630 8,985 9,692 8,704
53 Japan 2,796 2,560 3,154 2,438
54 Middle Eastern oil-expor-
ting countries (1) 1,024 966 1,051 919
55 Africa 672 773 669 838
56 Oil-exporting countries (2) 180 165 154 170
57 Other (3) 1,572 1,381 1,509 1,432
2001
Type of claim, and Dec.
area or country (p)
1 Total 113,155
2 Payable in dollars 103,937
3 Payable in foreign currencies 9,218
By type
4 Financial claims 81,287
5 Deposits 29,801
6 Payable in dollars 27,850
7 Payable in foreign curren-
cies 1,951
8 Other financial claims 51,486
9 Payable in dollars 46,621
10 Payable in foreign curren-
cies 4,865
11 Commercial claims 31,868
12 Trade receivables 27,586
13 Advance payments and other
claims 4,282
14 Payable in dollars 29,466
15 Payable in foreign currencies 2,402
By area or country
Financial claims
16 Europe 26,118
17 Belgium and Luxembourg 625
18 France 1,450
19 Germany 1,068
20 Netherlands 2,138
21 Switzerland 589
22 United Kingdom 16,510
23 Canada 6,193
24 Latin America and Caribbean 41,201
25 Bahamas 976
26 Bermuda 918
27 Brazil 2,127
28 British West Indies 32,965
29 Mexico 3,075
30 Venezuela 83
31 Asia 6,430
32 Japan 1,604
33 Middle Eastern oil-expor-
ting countries (1) 135
34 Africa 414
35 Oil-exporting countries (2) 49
36 All other (3) 931
Commercial claims
37 Europe 14,036
38 Belgium and Luxembourg 268
39 France 2,922
40 Germany 1,662
41 Netherlands 529
42 Switzerland 611
43 United Kingdom 3,839
44 Canada 2,855
45 Latin America and Caribbean 4,874
46 Bahamas 42
47 Bermuda 369
48 Brazil 958
49 British West Indies 95
50 Mexico 1,401
51 Venezuela 288
52 Asia 7,855
53 Japan 2,007
54 Middle Eastern oil-expor-
ting countries (1) 851
55 Africa 645
56 Oil-exporting countries (2) 88
57 Other (3) 1,603
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya, and Nigeria.
(3.) Includes nonmonetary international and regional organizations.
3.24 FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
2002 2001
Transaction, and Jan.- Aug.
area or country 2000 2001 (r) Feb. (r)
U.S. corporate securities
STOCKS
1 Foreign purchases 3,605,196 3,051,355 515,676 247,297
2 Foreign sales 3,430,306 2,934,969 504,959 239,594
3 Net purchases, or sales
(-) 174,890 116,386 10,717 7,703
4 Foreign countries 174,903 116,183 10,840 7,704
5 Europe 164,656 88,098 13,172 9,199
6 France 5,727 5,914 1,606 623
7 Germany 31,752 8,415 908 463
8 Netherlands 4,915 10,919 506 594
9 Switzerland 11,960 3,456 1,036 -127
10 United Kingdom 58,736 38,492 5,295 6,164
11 Channel Islands and Isle n.a. -698 -184 24
of Man (1)
12 Canada 5,956 10,984 1,048 -230
13 Latin America and Carib-
bean -17,812 -5,157 -5,942 -2,930
14 Middle East (2) 9,189 1,789 -69 826
15 Other Asia 12,494 20,727 2,207 619
16 Japan 2,070 6,788 -15 54
17 Africa 415 -366 37 72
18 Other countries 5 108 387 148
19 Nonmonetary interna-
tional and regional
organizations -11 203 -123 -1
BONDS (3)
20 Foreign purchases 1,208,386 1,943,158 350,243 157,685
21 Foreign sales 871,416 1,556,217 317,222 132,938
22 Net purchases, or sales
(-) 336,970 386,941 33,021 24,747
23 Foreign countries 337,074 386,376 32,841 24,549
24 Europe 180,917 195,798 12,509 9,675
25 France 2,216 5,028 82 -1,035
26 Germany 4,067 12,362 -160 472
27 Netherlands 1,130 1,538 -945 -297
28 Switzerland 3,973 5,721 969 628
29 United Kingdom 141,223 153,158 9,359 8,809
30 Channel Islands and Isle
of Man (1) n.a. 2,000 144 106
31 Canada 13,287 4,595 95 -1,434
32 Latin America and Carib-
bean 59,444 77,217 10,732 8,961
33 Middle East (1) 2,076 2,338 762 -22
34 Other Asia 78,794 106,812 8,896 7,568
35 Japan 39,356 34,099 -1,674 1,641
36 Africa 938 760 -8 135
37 Other countries 1,618 -1,144 -145 -334
38 Nonmonetary interna-
tional and regional
organizations -70 566 180 198
Foreign securities
39 Stocks, net purchases,
or sales (-) -13,088 -50,113 1,097 -2,105
40 Foreign purchases 1,802,185 1,397,664 198,699 96,415
41 Foreign sales 1,815,273 1,447,777 197,602 98,520
42 Bonds, net purchases, or
sales (-) -4,054 30,393 1,276 10,535
43 Foreign purchases 958,932 1,159,155 182,778 88,714
44 Foreign sales 962,986 1,128,762 181,502 78,179
45 Net purchases, or sales
(-), of stocks and
bonds -17,142 -19,720 2,373 8,430
46 Foreign countries -17,278 -19,132 2,402 8,290
47 Europe -25,386 -12,117 -1,849 6,243
48 Canada -3,888 2,943 1,093 -1,516
49 Latin America and Carib-
bean -15,688 4,245 1,173 1,226
50 Asia 24,488 -11,869 1,707 1,987
51 Japan 20,970 -20,116 -247 616
52 Africa 943 -557 134 -25
53 Other countries 2,253 -1,777 144 375
54 Nonmonetary interna-
tional and regional
organizations 150 -587 -29 140
2001
Transaction, and Sept. Oct. Nov. Dec.
area or country (r) (r) (r) (r)
U.S. corporate securities
STOCKS
1 Foreign purchases 193,492 255,682 241,318 239,289
2 Foreign sales 205,024 248,425 228,147 226,004
3 Net purchases, or sales
(-) -11,532 7,257 13,171 13,285
4 Foreign countries -11,521 7,234 13,162 13,266
5 Europe -7,327 7,478 8,492 6,740
6 France -2,609 1,969 -845 101
7 Germany -435 825 698 688
8 Netherlands 358 552 1,096 1,271
9 Switzerland -688 352 326 854
10 United Kingdom -564 3,313 3,248 2,033
11 Channel Islands and Isle -73 -23 -198 20
of Man (1)
12 Canada 1,137 197 938 1,250
13 Latin America and Carib-
bean -4,780 -1,508 1,833 3,931
14 Middle East (2) 664 -514 -105 249
15 Other Asia -879 1,551 1,811 600
16 Japan -806 1,148 414 65
17 Africa -37 -31 -9 -7
18 Other countries -299 61 202 503
19 Nonmonetary interna-
tional and regional
organizations -11 23 9 19
BONDS (3)
20 Foreign purchases 156,458 192,442 187,115 177,721
21 Foreign sales 137,848 151,612 156,019 155,238
22 Net purchases, or sales
(-) 18,610 40,830 31,096 22,483
23 Foreign countries 18,455 41,002 30,853 22,452
24 Europe 9,659 15,513 16,172 8,077
25 France -573 601 270 330
26 Germany 454 1,666 2,001 -12
27 Netherlands 457 83 -154 -637
28 Switzerland -51 292 417 75
29 United Kingdom 9,672 10,422 12,928 5,985
30 Channel Islands and Isle
of Man (1) 93 355 69 404
31 Canada -644 1,335 25 892
32 Latin America and Carib-
bean 2,519 2,270 7,838 5,765
33 Middle East (1) 8 307 432 455
34 Other Asia 7,281 21,044 6,593 7,721
35 Japan 1,066 15,243 1,104 -810
36 Africa -6 272 71 -45
37 Other countries -362 261 -278 -413
38 Nonmonetary interna-
tional and regional
organizations 155 -172 243 31
Foreign securities
39 Stocks, net purchases,
or sales (-) 2,331 -3,097 2,795 -8,955
40 Foreign purchases 99,588 105,799 108,043 88,033
41 Foreign sales 97,257 108,896 105,248 96,988
42 Bonds, net purchases, or
sales (-) 10,326 -754 -1,214 -945
43 Foreign purchases 87,083 94,591 95,672 69,504
44 Foreign sales 76,757 95,345 96,886 70,449
45 Net purchases, or sales
(-), of stocks and
bonds 12,657 -3,851 1,581 -9,900
46 Foreign countries 12,659 -3,657 1,587 -9,832
47 Europe 5,993 -4,904 2,206 -9,831
48 Canada 1,297 -676 -470 1,010
49 Latin America and Carib-
bean 2,663 -571 1,973 118
50 Asia 2,534 3,070 -2,138 -1,494
51 Japan -391 1,441 -3,575 -1,924
52 Africa -34 -565 191 134
53 Other countries 206 -11 -175 231
54 Nonmonetary interna-
tional and regional
organizations -2 -194 -6 -68
2002
Transaction, and Jan. Feb.
area or country (r) (p)
U.S. corporate
securities
STOCKS
1 Foreign purchases 255,725 259,951
2 Foreign sales 247,109 257,850
3 Net purchases, or sales
(-) 8,616 2,101
4 Foreign countries 8,737 2,103
5 Europe 8,730 4,442
6 France 1,302 304
7 Germany 479 429
8 Netherlands 406 100
9 Switzerland 470 566
10 United Kingdom 3,972 1,323
11 Channel Islands and Isle -81 -103
of Man (1)
12 Canada 591 457
13 Latin America and Carib-
bean -1,447 -4,495
14 Middle East (2) 96 -165
15 Other Asia 572 1,635
16 Japan -209 194
17 Africa 32 5
18 Other countries 163 224
19 Nonmonetary interna-
tional and regional
organizations -121 -2
BONDS (3)
20 Foreign purchases 181,519 168,724
21 Foreign sales 161,985 155,237
22 Net purchases, or sales
(-) 19,534 13,487
23 Foreign countries 19,624 13,217
24 Europe 7,890 4,619
25 France 68 14
26 Germany 93 -253
27 Netherlands -1,495 550
28 Switzerland 143 826
29 United Kingdom 7,619 1,740
30 Channel Islands and Isle
of Man (1) 130 14
31 Canada 338 -243
32 Latin America and Carib-
bean 4,655 6,077
33 Middle East (1) 420 342
34 Other Asia 6,802 2,094
35 Japan -717 -957
36 Africa -30 22
37 Other countries -451 306
38 Nonmonetary interna-
tional and regional
organizations -90 270
Foreign
securities
39 Stocks, net purchases,
or sales (-) 3,817 -2,720
40 Foreign purchases 103,336 95,363
41 Foreign sales 99,519 98,083
42 Bonds, net purchases, or
sales (-) -1,009 2,285
43 Foreign purchases 93,549 89,229
44 Foreign sales 94,558 86,944
45 Net purchases, or sales
(-), of stocks and
bonds 2,808 -435
46 Foreign countries 2,824 -422
47 Europe -2,422 573
48 Canada 1,381 -288
49 Latin America and Carib-
bean 2,643 -1,470
50 Asia 1,072 635
51 Japan 400 -647
52 Africa 72 62
53 Other countries 78 66
54 Nonmonetary interna-
tional and regional
organizations -16 -13
(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.
Securities Holdings and Transactions
3.25 MARKETABLE U.S. TREASURY BONDS AND NOTES Foreign Transactions (1)
Millions of dollars; net purchases, or sales (-) during period
2002
Jan.-
Area or country 2000 2001 Feb.
1 Total estimated -54,032 18,472 -16,931
2 Foreign countries -53,571 19,158 -17,520
3 Europe -50,704 -20,510 -6,767
4 Belgium (2) 73 -598 -371
5 Germany -7,304 -1,668 -3,743
6 Luxembourg (2) n.a. 462 -640
7 Netherlands 2,140 -6,728 -1,286
8 Sweden 1,082 -1,190 -567
9 Switzerland -10,326 1,412 (r) 198
10 United Kingdom -33,669 -7,185 (r) 1,852
11 Channel Islands and
Isle of Man (3) n.a. -179 44
12 Other Europe and
former U.S.S.R. -2,700 -4,836 -2,254
13 Canada -550 -4,136 (r) -2,269
14 Latin America and
Caribbean -4,914 5,046 -3,591
15 Venezuela 1,288 290 21
16 Other Latin America
and Caribbean -11,581 15,500 -1,437
17 Netherlands Antilles 5,379 -10,744 -2,175
18 Asia 1,639 37,992 (r) -5,359
19 Japan 10,580 17,774 -4,193
20 Africa -414 -880 69
21 Other 1,372 1,646 397
22 Nonmonetary interna-
tional and regional
organizations -461 -686 589
23 International -483 -290 190
24 Latin American Carib-
bean regional 76 41 14
MEMO
25 Foreign countries -53,571 19,158 -17,520
26 Official institutions -6,302 3,474 (r) -5,177
27 Other foreign -47,269 15,684 (r) -12,343
Oil-exporting countries
28 Middle East (4) 3,483 865 834
29 Africa (5) 0 -2 -1
2001
Area or country Aug. Sept. Oct. Nov.
1 Total estimated 4,410 -1,990 14,969 12,676
2 Foreign countries 4,590 -2,138 14,884 12,902
3 Europe 321 -782 2,339 -5,850
4 Belgium (2) 42 174 -146 -9
5 Germany 67 -113 -392 54
6 Luxembourg (2) -64 -348 285 -5
7 Netherlands 2,437 -2,653 -1,336 -701
8 Sweden 593 1,037 -109 268
9 Switzerland -45 (r) 979 -339 215
10 United Kingdom -4,609 (r) 1,992 7,359 -7,374
11 Channel Islands and
Isle of Man (3) 11 -1 -34 7
12 Other Europe and
former U.S.S.R. 1,889 -1,849 -2,949 1,695
13 Canada -357 (r) -947 -3,091 -430
14 Latin America and
Caribbean 3,711 -541 3,998 6,266
15 Venezuela -128 39 -129 103
16 Other Latin America
and Caribbean 67 -524 4,065 8,393
17 Netherlands Antilles 3,772 -56 62 -2,230
18 Asia 577 (r) -150 11,755 11,820
19 Japan 324 -3,329 16,640 1,737
20 Africa -120 47 -396 53
21 Other 458 235 279 1,043
22 Nonmonetary interna-
tional and regional
organizations -180 148 85 -226
23 International 103 -65 8 63
24 Latin American Carib-
bean regional -3 0 1 43
MEMO
25 Foreign countries 4,590 -2,138 14,884 12,902
26 Official institutions 343 2,549 2,239 6,266
27 Other foreign 4,247 -4,687 12,645 6,636
Oil-exporting countries
28 Middle East (4) -308 -586 12 2,442
29 Africa (5) -2 -2 0 0
2001 2002
Jan. Feb.
Area or country Dec. (r) (p)
1 Total estimated 10,497 -16,762 -169
2 Foreign countries 10,531 -17,027 -493
3 Europe 278 -6,688 -79
4 Belgium (2) 202 -108 -263
5 Germany 1,075 -3,466 -277
6 Luxembourg (2) -34 -514 -126
7 Netherlands -948 -2,098 812
8 Sweden -197 -337 -230
9 Switzerland 335 313 -115
10 United Kingdom 2,007 -86 1,938
11 Channel Islands and
Isle of Man (3) -136 -3 47
12 Other Europe and
former U.S.S.R. -2,026 -389 -1,865
13 Canada 2,978 -3,473 1,204
14 Latin America and
Caribbean -6,368 2,603 -6,194
15 Venezuela 3 33 -12
16 Other Latin America
and Caribbean -3,984 1,635 -3,072
17 Netherlands Antilles -2,387 935 -3,110
18 Asia 14,423 -9,221 3,862
19 Japan 4,379 -6,649 2,456
20 Africa -293 -65 134
21 Other -487 -183 580
22 Nonmonetary interna-
tional and regional
organizations -34 265 324
23 International 43 138 52
24 Latin American Carib-
bean regional -25 -1 15
MEMO
25 Foreign countries 10,531 -17,027 -493
26 Official institutions 1,061 -3,000 -2,177
27 Other foreign 9,470 -14,027 1,684
Oil-exporting countries
28 Middle East (4) 2,217 784 50
29 Africa (5) 0 0 -1
(1.) Official and private transactions in marketable U.S. Treasury
securities having an original maturity of more than one year. Data are
based on monthly transactions reports. Excludes nonmarketable U.S.
Treasury bonds and notes held by official institutions of foreign
countries.
(2.) Before January 2001, combined data reported for Belgium and
Luxembourg.
(3.) Before January 2001, these data were included in the data reported
for the United Kingdom.
(4.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(5.) Comprises Algeria, Gabon, Libya, and Nigeria.
3.28 FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE VALUE
OF THE U.S. DOLLAR (1)
Currency units per U.S. dollar except as noted
Item 1999 2000 2001
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 64.54 58.15 51.69
2 Brazil/real 1.8207 1.8301 2.3527
3 Canada/dollar 1.4858 1.4855 1.5487
4 China, P.R./yuan 8.2783 8.2784 8.2770
5 Denmark/krone 6.9900 8.0953 8.3323
6 European Monetary
Union/euro (3) 1.0653 0.9232 0.8952
7 Greece/drachma 306.30 365.92 n.a.
8 Hong Kong/dollar 7.7594 7.7924 7.7997
9 India/rupee 43.13 45.00 47.22
10 Japan/yen 113.73 107.80 121.57
11 Malaysia/ringgit 3.8000 3.8000 3.8000
12 Mexico/peso 9.553 9.459 9.337
13 New Zealand/dollar (2) 52.94 45.68 42.02
14 Norway/krone 7.8071 8.8131 8.9964
15 Singapore/dollar 1.6951 1.7250 1.7930
16 South Africa/rand 6.1191 6.9468 8.6093
17 South Korea/won 1,189.84 1,130.90 1,292.01
18 Sri Lanka/rupee 70.868 76.964 89.602
19 Sweden/krona 8.2740 9.1735 10.3425
20 Switzerland/franc 1.5045 1.6904 1.6891
21 Taiwan/dollar 32.322 31.260 33.824
22 Thailand/baht 37.887 40.210 44.532
23 United Kingdom/pound
(2) 161.72 151.56 143.96
24 Venezuela/bolivar 606.82 680.52 724.10
Indexes (4)
NOMINAL
25 Broad (January
1997=100) (5) 116.87 119.67 126.09
26 Major currencies
(March 1973=100) (6) 94.07 98.32 104.32
27 Other important trading
partners (January
1997=100) (7) 129.94 130.33 136.34
REAL
28 Broad (March
1973=100) (5) 100.78 104.32 100.41 (r)
29 Major currencies
(March 1973=100) (6) 97.06 103.17 110.73
30 Other important trading
partners (March
1973=100) (7) 114.25 114.53 119.20
2001 2002
Item Nov. Dec. Jan.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 51.65 51.38 51.70
2 Brazil/real 2.5481 2.3635 2.3799
3 Canada/dollar 1.5922 1.5788 1.5997
4 China, P.R./yuan 8.2769 8.2761 8.2771
5 Denmark/krone 8.3832 8.3526 8.4183
6 European Monetary
Union/euro (3) 0.8883 0.8912 0.8832
7 Greece/drachma n.a. n.a. n.a.
8 Hong Kong/dollar 7.7996 7.7989 7.7989
9 India/rupee 48.04 47.93 48.35
10 Japan/yen 122.41 127.59 132.68
11 Malaysia/ringgit 3.8000 3.8000 3.8000
12 Mexico/peso 9.225 9.157 9.164
13 New Zealand/dollar (2) 41.58 41.57 42.45
14 Norway/krone 8.9296 8.9713 8.9684
15 Singapore/dollar 1.8295 1.8382 1.8394
16 South Africa/rand 9.7388 11.6761 11.6258
17 South Korea/won 1,282.10 1,292.29 1,316.34
18 Sri Lanka/rupee 92.670 93.194 93.473
19 Sweden/krona 10.6117 10.5753 10.4561
20 Switzerland/franc 1.6509 1.6566 1.6709
21 Taiwan/dollar 34.498 34.682 35.027
22 Thailand/baht 44.411 43.952 44.036
23 United Kingdom/pound
(2) 143.56 144.13 143.22
24 Venezuela/bolivar 745.10 753.64 762.40
Indexes (4)
NOMINAL
25 Broad (January
1997=100) (5) 127.33 127.52 129.26
26 Major currencies
(March 1973=100) (6) 105.64 106.30 108.10
27 Other important trading
partners (January
1997=100) (7) 137.19 136.62 137.95
REAL
28 Broad (March
1973=100) (5) 111.18 (r) 111.05 (r) 112.52 (r)
29 Major currencies
(March 1973=100) (6) 112.47 (r) 112.66 (r) 114.66 (r)
30 Other important trading
partners (March
1973=100) (7) 118.77 118.23 119.15
2002
Item Feb. Mar. Apr.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 51.28 52.56 53.52
2 Brazil/real 2.4242 2.3450 2.3227
3 Canada/dollar 1.5964 1.5877 1.5815
4 China, P.R./yuan 8.2767 8.2773 8.2772
5 Denmark/krone 8.5343 8.4795 8.4397
6 European Monetary
Union/euro (3) 0.8707 0.8766 0.8860
7 Greece/drachma n.a. n.a. n.a.
8 Hong Kong/dollar 7.7996 7.9970 7.8000
9 India/rupee 48.72 48.77 48.94
10 Japan/yen 133.64 131.06 130.77
11 Malaysia/ringgit 3.8002 3.8000 3.8000
12 Mexico/peso 9.105 9.064 9.165
13 New Zealand/dollar (2) 41.87 43.33 44.28
14 Norway/krone 8.9492 8.8072 8.6102
15 Singapore/dollar 1.8312 1.8295 1.8285
16 South Africa/rand 11.4923 11.4863 11.0832
17 South Korea/won 1,320.55 1,322.90 1,318.09
18 Sri Lanka/rupee 93.650 94.903 96.030
19 Sweden/krona 10.5501 10.3324 10.3070
20 Switzerland/franc 1.6970 1.6743 1.6542
21 Taiwan/dollar 35.073 35.020 34.917
22 Thailand/baht 43.854 43.415 43.442
23 United Kingdom/pound
(2) 142.27 142.30 144.29
24 Venezuela/bolivar 898.51 922.66 871.38
Indexes (4)
NOMINAL
25 Broad (January
1997=100) (5) 130.03 129.27 128.95
26 Major currencies
(March 1973=100) (6) 108.82 107.76 107.03
27 Other important trading
partners (January
1997=100) (7) 138.64 138.49 138.86
REAL
28 Broad (March
1973=100) (5) 113.10 (r) 112.79 (r) 112.73
29 Major currencies
(March 1973=100) (6) 115.65 (r) 114.60 (r) 114.15
30 Other important trading
partners (March
1973=100) (7) 119.26 119.86 (r) 120.27
(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
40.3999 Belgian francs
5.94573 Finnish markkas
6.55957 French francs
1.95583 German marks
.787564 Irish pounds
1,936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
340.750 Greek drachmas
(4.) Starting with the February 2002 Bulletin, revised index values
resulting from the periodic revision of data that underlie the
calculated trade weights are reported. For more information on the
indexes of the foreign exchange value of the dollar, see Federal
Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
(5.) Weighted average of the foreign exchange value of the U.S. dollar
against the currencies of a broad group of U.S. trading partners. The
weight for each currency is computed as an average of U.S. bilateral
import shares from and export shares to the issuing country and of a
measure of the importance to U.S. exporters of that country's trade in
third country markets.
(6.) Weighted average of the foreign exchange value of the U.S. dollar
against a subset of broad index currencies that circulate widely
outside the country of issue. The weight for each currency is its broad
index weight scaled so that the weights of the subset of currencies in
the index sum to one.
(7.) Weighted average of the foreign exchange value of the U.S. dollar
against a subset of broad index currencies that do not circulate widely
outside the country of issue. The weight for each currency is its broad
index weight scaled so that the weights of the subset of currencies in
the index sum to one.
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