Financial and business statistics.A3 GUIDE TO TABLES DOMESTIC FINANCIAL STATISTICS Money Stock and Bank Credit A4 Reserves and money stock measures A5 Reserves of depository institutions and Reserve Bank credit A6 Reserves and borrowings--Depository institutions Policy Instruments A7 Federal Reserve Bank interest rates A8 Reserve requirements of depository institutions A9 Federal Reserve open market transactions Federal Reserve Banks A10 Condition and Federal Reserve note statements A11 Maturity distribution of loan and security holding Monetary and Credit Aggregates A12 Aggregate reserves of depository institutions and monetary base A13 Money stock measures Commercial Banking Institutions--Assets and Liabilities A15 All commercial banks in the United States A16 Domestically chartered commercial banks A17 Large domestically chartered commercial banks A19 Small domestically chartered commercial banks A20 Foreign-related institutions Financial Markets A22 Commercial paper outstanding A22 Prime rate charged by banks on short-term business loans A23 Interest rates--Money and capital markets A24 Stock market--Selected statistics Federal Finance A25 Federal debt subject to statutory limitation A25 Gross public debt of U.S. Treasury--Types and ownership A26 U.S. government securities dealers--Transactions A27 U.S. government securities dealers--Positions and financing A28 Federal and federally sponsored credit agencies--Debt outstanding Securities Markets and Corporate Finance A29 New security issues--Tax-exempt state and local governments and corporations A30 Open-end investment companies--Net sales and assets A30 Domestic finance companies--Assets and liabilities A31 Domestic finance companies--Owned and managed receivables Real Estate A32 Mortgage markets--New homes A33 Mortgage debt outstanding Consumer Credit A34 Total outstanding A34 Terms Flow of Funds A35 Funds raised in U.S. credit markets A37 Summary of financial transactions A38 Summary of credit market debt outstanding A39 Summary of financial assets and liabilities DOMESTIC NONFINANCIAL STATISTICS Selected Measures A40 Output, capacity, and capacity utilization A42 Industrial production--Indexes and gross value INTERNATIONAL STATISTICS Summary Statistics A44 U.S. international transactions A45 U.S. reserve assets A45 Foreign official assets held at Federal Reserve Banks A46 Selected U.S. liabilities to foreign official institutions Foreign official institutions Central governments of foreign countries, including all departments and agencies of national governments; central banks, exchange authorities, and all fiscal agents of foreign national governments that undertake activities similar to those of a treasury, central bank, or stabilization fund; diplomatic and consular establishments of foreign national governments; and any international or regional organization, including subordinate andReported by Banks in the United States A46 Liabilities to, and claims on, foreigners A47 Liabilities to foreigners A49 Banks' own claims on foreigners A50 Banks' own and domestic customers' claims on foreigners A50 Banks' own claims on unaffiliated foreigners A51 Claims on foreign countries--Combined domestic offices and foreign branches Reported by Nonbanking Business Enterprises in the United States A52 Liabilities to unaffiliated foreigners A53 Claims on unaffiliated foreigners Securities Holdings and Transactions A54 Foreign transactions in securities A55 Marketable U.S. Treasury bonds and notes--Foreign transactions Interest and Exchange Rates A56 Foreign exchange rates A57 GUIDE TO SPECIAL TABLES AND STATISTICAL RELEASES SPECIAL TABLES A58 Assets and liabilities of commercial banks, September 30, 2002 A60 Terms of lending at commercial banks, November 2002 A66 Assets and liabilities of U.S. branches and agencies of foreign banks, September 30, 2002 A76 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 state mortgage investment conduits
RHS Rural Housing Service
RP Repurchase agreement
RTC Resolution Trust Corporation
SCO Securitized credit obligation
SDR Special drawing right
SIC Standard Industrial Classification
TIIS Treasury inflation-indexed securities
VA Department of Veterans Affairs
GENERAL INFORMATION In many of the tables, components do not sum to totals because of rounding. Minus signs are used to indicate (1) a decrease, (2) a negative figure, or (3) an outflow. "U.S. government securities" may include guaranteed issues of U.S. government agencies (the flow of funds figures also include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury. "State and local government" also includes municipalities, special districts, and other political subdivisions.
1.10 RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted (1)
2001 2002 2002
Monetary or credit July
aggregate Q4 Q1 (r) Q2 (r) Q3 (r) (r)
Reserves of depository
institutions (2)
1 Total -31.2 -9.7 -15.9 -.9 11.2
2 Required 22.1 -9.2 -14.9 -3.6 7.2
3 Nonborrowed -21.4 -9.3 -16.5 -2.4 9.7
4 Monetary base (3) 6.4 9.1 8.1 7.2 8.4
Concepts of money (4)
5 M1 2.1 5.9 -.6 2.4 7.3
6 M2 9.5 5.4 3.3 10.3 12.7
7 M3 12.2 4.6 3.1 8.5 8.5
Nontransaction
components
8 In M2 (5) 11.5 5.3 4.4 12.4 14.2
9 In M3 only (6) 18.3 3.1 2.8 4.8 -.5
Time and savings
Commercial banks
10 Savings, including 22.6 (r) 18.9 13.3 21.3 17.3
MMDAs (6)
11 Small time (7) -13.1 (r) -17.0 -4.9 -6.3 -8.6
12 Large time (8, 9) -9.3 4.7 12.3 4.8 7.0
Thrift institutions
13 Savings, including 29.4 (r) 29.5 22.1 21.6 23.3
MMDAs
14 Small time (7) -9.3 (r) -13.2 -15.3 -11.6 -8.5
15 Large time (8) 3.0 (r) 1.0 -8.2 -2.1 2.2
Money market mutual
funds
16 Retail 7.9 -11.0 -10.5 9.0 24.0
17 Institution-only 49.5 0.3 2.9 .1 -4.6
Repurchase agreements
and eurodollars
18 Repurchase .7 9.6 -5.9 25.8 -1.6
agreements (10)
19 Eurodollars (10) -7.9 (r) 6.4 -6.4 -2.2 -1.2
2002
Monetary or credit
aggregate Aug. (r) Sept. (r) Oct. (r) Nov.
Reserves of depository
institutions (2)
1 Total 11.3 -23.3 -10.9 19.9
2 Required 3.5 -19.3 -13.7 18.6
3 Nonborrowed 7.1 -20.4 -8.3 15.9
4 Monetary base (3) 4.3 .8 3.7 4.6
Concepts of money (4)
5 M1 -14.2 8.1 8.5 1.1
6 M2 9.5 5.3 10.2 9.8
7 M3 10.8 5.1 3.1 19.7
Nontransaction
components
8 In M2 (5) 16.0 4.5 10.7 12.1
9 In M3 only (6) 13.6 4.7 -12.2 41.6
Time and savings
Commercial banks
10 Savings, including 32.9 17.5 20.2 22.5
MMDAs (6)
11 Small time (7) -9.3 -13.9 -12.3 -9.0
12 Large time (8, 9) .2 .7 11.7 -20.8
Thrift institutions
13 Savings, including 25.8 22.2 29.1 16.6
MMDAs
14 Small time (7) -8.5 -10.9 -9.5 -6.4
15 Large time (8) 14.0 6.4 10.6 10.5
Money market mutual
funds
16 Retail -.2 -17.2 -1.6 5.4
17 Institution-only -1.5 -14.3 -36.2 80.9
Repurchase agreements
and eurodollars
18 Repurchase 81.4 59.1 -5.2 60.6
agreements (10)
19 Eurodollars (10) 23.5 23.1 15.7 19.5
(1.) Unless otherwise noted, rates of change are calculated from
average amounts outstanding during preceding month or quarter.
(2.) Figures incorporate adjustments for discontinuities, or
"breaks," associated with regulatory changes in reserve requirements
(See also table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
weekly reporters whose vault cash exceeds their required reserves)
the seasonally adjusted, break-adjusted difference between current
vault cash and the amount applied to satisfy current reserve
requirements.
(4.) Composition of the money stock measures is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks,
and the vaults of depository institutions, (2) travelers checks of
nonbank issuers, (3) demand deposits at all commercial banks other
than those owed to depository institutions, the U.S. government, and
foreign banks and official institutions, less cash items in the
process of collection and Federal Reserve float, and (4) other
checkable deposits (QCDs), 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 pins (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds, (3) RP
liabilities (overnight and term) issued by all depository
institutions, and (4) eurodollars (overnight and term) held by U.S.
residents at foreign branches of U.S. banks worldwide and at all
banking offices in the United Kingdom and Canada. Excludes amounts
held by depository institutions, the U.S. government, money market
funds, and foreign banks and official institutions. Seasonally
adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally
adjusted separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by
depository institutions, and (4) eurodollars (overnight and term)
of U.S. addressees, each seasonally adjusted separately.
(7.) Small time deposits-including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small
time deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by
money market funds, depository institutions, the U.S. government,
and foreign banks and official institutions.
(10.) Includes both overnight and term.
Money Stock and Bank Credit
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT (1)
Millions of dollars
Average of
daily figures
Factor 2002
Sept. Oct. Nov.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 659,221 659,702 666,517
U.S. government
securities (2)
2 Bought outright--System
account (3) 604,667 609,157 608,689
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) 16,617 11,242 19,308
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 14 13 213
9 Seasonal credit 168 120 61
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float -262 363 104
13 Other Federal Reserve
assets 38,008 38,797 38,133
14 Gold stock 11,042 11,042 11,042
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 34,282 34,349 34,410
ABSORBING RESERVE FUNDS
17 Currency in circulation 661,583 662,719 668,223
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 367 389 387
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,838 4,873 5,024
21 Foreign 101 164 118
22 Service-related balances
and adjustments 10,178 10,266 10,483
23 Other 221 223 228
24 Other Federal Reserve
liabilities and capital 19,399 19,530 19,765
25 Reserve balances with
Federal Reserve Banks (5) 9,056 9,128 9,943
End-of-month figures
Sept. Oct. Nov.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 664,726 662,905 674,241
U.S. government
securities (2)
2 Bought outright--System
account (3) 604,191 607,865 608,985
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) 21,750 16,500 28,500
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 1 0 2
9 Seasonal credit 176 80 57
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 396 -695 -334
13 Other Federal Reserve
assets 38,202 39,144 37,022
14 Gold stock 11,042 11,042 11,042
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 34,315 34,385 34,441
ABSORBING RESERVE FUNDS
17 Currency in circulation 660,082 663,370 673,822
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 380 397 377
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 7,879 5,878 4,928
21 Foreign 150 89 78
22 Service-related balances
and adjustments 10,170 10,423 10,685
23 Other 221 233 253
24 Other Federal Reserve
liabilities and capital 19,719 19,720 19,616
25 Reserve balances with
Federal Reserve Banks (5) 13,682 10,422 12,166
Average of daily figures for week
ending on date indicated
Factor 2002
Oct. 16 Oct. 23 Oct. 30 Nov. 6
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 661,669 657,682 662,436 660,565
U.S. government
securities (2)
2 Bought outright--System
account (3) 609,633 610,273 608,693 608,652
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) 12,536 8,143 14,071 12,036
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 5 4 3 355
9 Seasonal credit 124 116 98 67
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 658 366 211 36
13 Other Federal Reserve
assets 38,703 38,771 39,350 39,408
14 Gold stock 11,042 11,042 11,042 11,042
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 34,343 34,357 34,371 34,385
ABSORBING RESERVE FUNDS
17 Currency in circulation 664,412 662,855 662,102 663,948
18 Reverse repurchase
agreements--triparty (4) 0 0 0 0
19 Treasury cash holdings 384 399 400 395
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 4,327 5,064 4,799 5,338
21 Foreign 77 341 157 116
22 Service-related balances
and adjustments 10,299 10,297 10,183 10,423
23 Other 216 212 205 245
24 Other Federal Reserve
liabilities and capital 19,535 19,391 19,651 19,855
25 Reserve balances with
Federal Reserve Banks (5) 10,005 6,723 12,552 7,870
Wednesday figures
Oct. 16 Oct. 23 Oct. 30 Nov. 6
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 667,216 657,136 669,906 659,359
U.S. government
securities (2)
2 Bought outright--System
account (3) 610,360 610,231 608,665 608,770
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) 13,750 7,500 20,500 10,000
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 30 4 4 7
9 Seasonal credit 129 103 85 62
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 4,273 221 1,004 881
13 Other Federal Reserve
assets 38,664 39,067 39,639 39,629
14 Gold stock 11,042 11,042 11,042 11,042
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 34,343 34,357 34,371 34,385
ABSORBING RESERVE FUNDS
17 Currency in circulation 665,022 663,303 664,065 666,239
18 Reverse repurchase
agreements--triparty (4) 0 0 0 0
19 Treasury cash holdings 399 400 397 386
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 4,592 5,713 5,388 4,807
21 Foreign 75 128 238 72
22 Service-related balances
and adjustments 10,299 10,297 10,183 10,423
23 Other 215 205 206 243
24 Other Federal Reserve
liabilities and capital 19,283 19,372 19,581 19,571
25 Reserve balances with
Federal Reserve Banks (5) 14,916 5,316 17,461 5,245
Average of daily figures for
week ending on date indicated
Factor 2002
Nov. 13 Nov. 20 Nov. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 666,349 666,072 669,023
U.S. government
securities (2)
2 Bought outright--System
account (3) 608,480 608,053 609,235
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) 16,821 20,929 23,036
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 242 310 3
9 Seasonal credit 66 60 54
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 649 -310 15
13 Other Federal Reserve
assets 40,081 37,020 36,671
14 Gold stock 11,042 11,042 11,042
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 34,399 34,413 34,427
ABSORBING RESERVE FUNDS
17 Currency in circulation 668,072 667,798 669,912
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 386 387 384
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 5,013 4,868 5,016
21 Foreign 77 147 125
22 Service-related balances
and adjustments 10,328 10,460 10,625
23 Other 236 250 180
24 Other Federal Reserve
liabilities and capital 20,012 19,791 19,483
25 Reserve balances with
Federal Reserve Banks (5) 9,867 10,026 10,968
Wednesday figures
Nov. 13 Nov. 20 Nov. 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 673,934 662,991 676,116
U.S. government
securities (2)
2 Bought outright--System
account (3) 608,984 606,396 609,614
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) 21,000 19,250 29,000
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 2 1 6
9 Seasonal credit 65 56 54
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 3,624 752 599
13 Other Federal Reserve
assets 40,249 36,527 36,833
14 Gold stock 11,042 11,042 11,042
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 34,399 34,413 34,427
ABSORBING RESERVE FUNDS
17 Currency in circulation 669,436 668,854 674,291
18 Reverse repurchase
agreements--triparty (4) 0 0 0
19 Treasury cash holdings 387 386 377
Deposits, other than
reserve balances, with
Federal Reserve Banks
20 Treasury 4,592 4,519 5,082
21 Foreign 76 72 224
22 Service-related balances
and adjustments 10,328 10,460 10,625
23 Other 238 231 184
24 Other Federal Reserve
liabilities and capital 19,693 19,307 19,435
25 Reserve balances with
Federal Reserve Banks (5) 16,825 6,819 13,566
(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
Reserve classification 1999 2000 2001
Dec. Dec. Dec.
1 Reserve balances with
Reserve Banks (2) 5,262 7,022 9,053 (r)
2 Total vault cash (3) 60,620 45,245 43,919 (r)
3 Applied vault cash (4) 36,392 31,451 32,024
4 Surplus vault cash (5) 24,228 13,794 11,895 (r)
5 Total reserves (6) 41,654 38,473 41,077
6 Required reserves 40,357 37,046 39,428 (r)
7 Excess reserve balances
at Reserve Banks (7) 1,297 1,427 1,649 (r)
8 Total borrowing at Reserve
Banks 320 210 67
9 Adjustments 179 99 34
10 Seasonal 67 111 33
11 Special Liquidity
Facility (8) 74 0 ...
12 Extended credit (9) 0 0 0
Prorated monthly averages of
biweekly averages
Reserve classification 2002
June July Aug.
May (r) (r) (r) (r)
1 Reserve balances with
Reserve Banks (2) 9,188 7,923 8,099 8,520
2 Total vault cash (3) 41,819 41,655 42,718 42,892
3 Applied vault cash (4) 31,104 30,694 31,313 31,335
4 Surplus vault cash (5) 10,716 10,961 11,406 11,557
5 Total reserves (6) 40,292 38,617 39,412 39,854
6 Required reserves 39,030 37,378 38,038 38,217
7 Excess reserve balances
at Reserve Banks (7) 1,261 1,238 1,374 1,637
8 Total borrowing at Reserve
Banks 112 142 191 333
9 Adjustments 7 6 16 148
10 Seasonal 105 136 176 185
11 Special Liquidity
Facility (8) ... ... ... ...
12 Extended credit (9) 0 0 0 0
Biweekly
averages
of daily
figures
for two-
week
periods
Prorated monthly ending
averages of on dates
biweekly averages indicated
Reserve classification 2002
Sept. Oct. Nov. Aug.
(r) (r) 7 (r)
1 Reserve balances with
Reserve Banks (2) 8,731 8,836 9,696 8,022
2 Total vault cash (3) 42,231 42,933 42,143 43,479
3 Applied vault cash (4) 30,176 29,849 29,446 32,212
4 Surplus vault cash (5) 12,055 13,084 12,697 11,267
5 Total reserves (6) 38,907 38,685 39,142 40,233
6 Required reserves 37,431 37,134 37,525 38,917
7 Excess reserve balances
at Reserve Banks (7) 1,476 1,550 1,616 1,316
8 Total borrowing at Reserve
Banks 229 143 272 194
9 Adjustments 60 23 211 14
10 Seasonal 169 120 60 180
11 Special Liquidity
Facility (8) ... ... ... ...
12 Extended credit (9) 0 0 0 0
Biweekly averages of daily figures
for two-week periods ending
on dates indicated
Reserve classification 2002
Aug. 21 Sept. 4 (r) Sept. 18 (r)
1 Reserve balances with
Reserve Banks (2) 7,694 (r) 10,024 7,666
2 Total vault cash (3) 43,499 (r) 41,632 41,581
3 Applied vault cash (4) 31,351 30,698 28,528
4 Surplus vault cash (5) 12,148 (r) 10,935 13,053
5 Total reserves (6) 39,045 (r) 40,722 36,194
6 Required reserves 37,712 38,436 35,225
7 Excess reserve balances
at Reserve Banks (7) 1,333 (r) 2,286 969
8 Total borrowing at Reserve
Banks 195 626 167
9 Adjustments 9 438 4
10 Seasonal 186 188 163
11 Special Liquidity
Facility (8) ... ... ...
12 Extended credit (9) 0 0 0
Biweekly averages of daily figures
for two-week periods ending
on dates indicated
Reserve classification 2002
Oct.2 (r) Oct. 16 Oct. 30 (r)
1 Reserve balances with
Reserve Banks (2) 9,543 7,935 9,634
2 Total vault cash (3) 43,190 43,452 (r) 42,464
3 Applied vault cash (4) 31,925 28,939 (r) 30,573
4 Surplus vault cash (5) 11,265 14,513 (r) 11,891
5 Total reserves (6) 41,468 36,874 (r) 40,207
6 Required reserves 39,670 35,337 38,688
7 Excess reserve balances
at Reserve Banks (7) 1,797 1,537 1,519
8 Total borrowing at Reserve
Banks 170 155 111
9 Adjustments 1 25 4
10 Seasonal 170 130 107
11 Special Liquidity
Facility (8) ... ... ...
12 Extended credit (9) 0 0 0
Biweekly averages of daily figures
for two-week periods ending
on dates indicated
Reserve classification 2002
Nov. 13 (r) Nov. 27 Dec. 11
1 Reserve balances with
Reserve Banks (2) 8,864 10,497 9,562
2 Total vault cash (3) 41,719 42,604 41,826
3 Applied vault cash (4) 28,302 30,514 29,423
4 Surplus vault cash (5) 13,417 12,091 12,403
5 Total reserves (6) 37,166 41,010 38,985
6 Required reserves 35,492 39,441 37,398
7 Excess reserve balances
at Reserve Banks (7) 1,674 1,569 1,586
8 Total borrowing at Reserve
Banks 366 214 133
9 Adjustments 299 157 83
10 Seasonal 67 57 0
11 Special Liquidity
Facility (8) ... ... ...
12 Extended credit (9) 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. Data 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 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
Primary credit (1)
Federal Reserve On Effective Previous
Bank 1/10/03 date rate
Boston 2.25 1/9/03 n/a
New York 2.25 1/9/03 n/a
Philadelphia 2.25 1/9/03 n/a
Cleveland 2.25 1/9/03 n/a
Richmond 2.25 1/9/03 n/a
Atlanta 2.25 1/9/03 n/a
Chicago 2.25 1/9/03 n/a
St. Louis 2.25 1/9/03 n/a
Minneapolis 2.25 1/9/03 n/a
Kansas City 2.25 1/9/03 n/a
Dallas 2.25 1/9/03 n/a
San Francisco 2.25 1/9/03 n/a
Current and previous levels
Secondary credit (2)
Federal Reserve On Effective Previous
Bank 1/10/03 date rate
Boston 2.75 1/9/03 n/a
New York 2.75 1/9/03 n/a
Philadelphia 2.75 1/9/03 n/a
Cleveland 2.75 1/9/03 n/a
Richmond 2.75 1/9/03 n/a
Atlanta 2.75 1/9/03 n/a
Chicago 2.75 1/9/03 n/a
St. Louis 2.75 1/9/03 n/a
Minneapolis 2.75 1/9/03 n/a
Kansas City 2.75 1/9/03 n/a
Dallas 2.75 1/9/03 n/a
San Francisco 2.75 1/9/03 n/a
Current and previous levels
Seasonal credit (3)
Federal Reserve On Effective Previous
Bank 1/10/03 date rate
Boston 1.25 1/9/03 1.30
New York 1.25 1/9/03 1.30
Philadelphia 1.25 1/9/03 1.30
Cleveland 1.25 1/9/03 1.30
Richmond 1.25 1/9/03 1.30
Atlanta 1.25 1/9/03 1.30
Chicago 1.25 1/9/03 1.30
St. Louis 1.25 1/9/03 1.30
Minneapolis 1.25 1/9/03 1.30
Kansas City 1.25 1/9/03 1.30
Dallas 1.25 1/9/03 1.30
San Francisco 1.25 1/9/03 1.30
Range of rates for
primary credit
Rates (or F.R. Bank
level)--All of
Effective date F.R. Banks N.Y.
In effect Jan, 9, 2003 2.25 2.25
(beginning of program)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1995 5.25 5.25
1996--Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998--Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000--Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
2001--Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001--May 15 3.50-4.00 3.50
17 3.50 3.50
2001--June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
2002--Nov. 6 0.75-1.25 0.75
7 0.75 0.75
In effect Jan. 8, 2003 0.75 0.75
(end of program)
(1.) Available for very short terms as a backup source
of liquidity to depository institutions that are in
generally sound financial condition in the judgment of
the lending Federal Reserve Bank.
(2.) Available in appropriate circumstances to depository
institutions that do not qualify for primary credit.
(3.) Available to help relatively small depository
institutions meet regular seasonal needs for funds that
arise from a clear pattern of intrayearly movements in
their deposits and loans and that cannot be met through
special industry lenders. The discount rate on seasonal
credit takes into account rates charged by market sources
of funds and ordinarily is reestablished on the first
business day of each two-week reserve maintenance period.
(4.) Was available until January 8, 2003, to help depository
institutions meet temporary needs for funds that could not
be met through reasonable alternative sources. For earlier data,
see the following publications of the Board of Governors:
Banking and Monetary Statistics, 1914-1941, and 1941-1970,
and the Statistical Digest, 1970-1979, 1980-1989, and 1990-1995.
See also the Board's Statistics: Releases and Historical Data web
pages (http://www.federalreserve.gov/releases/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Percentage
Type of deposit of deposits Effective date
Net transaction accounts (2)
1 $0 million=$42.1 million (3) 3 12/26/02
2 More than $42.1 million (4) 10 12/26/02
3 Nonpersonal time deposits (5) 0 12/27/90
4 Eurocurrency liabilities (6) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly,
on a pass-through basis, with certain approved institutions. For
previous reserve requirements, see earlier editions of the Annual
Report or the Federal Reserve Bulletin. Under the Monetary
Control Act of 1980, depository institutions include commercial
banks, savings banks, savings and loan associations, credit
unions, agencies and branches of foreign banks, and Edge Act
corporations.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instruments, payment orders of withdrawal, or
telephone or preauthorized transfers for the purpose of making
payments to third persons or others, However, accounts subject
to the rules that permit no more than six preauthorized,
automatic, or other transfers per month (of which no more than
three may be by check, draft, debit card, or similar order
payable directly to third parties) are savings deposits, not
transaction accounts.
(3.) The Monetary Control Act of 1980 requires that the amount
of transaction accounts against which the 3 percent reserve
requirement applies be modified annually by 80 percent of the
percentage change in transaction accounts held by all depository
institutions, determined as of June 30 of each year. Effective
with the reserve maintenance period of beginning December 26,
2002 for depository institutions that report weekly, and with
the period beginning January 16, 2003, for institutions that
report quarterly, the amount was increased from $41.3 million
to $42.1 million.
Under the Garn--St Germain Depository Institutions Act of 1982,
the Board adjusts the amount of reservable liabilities subject
to a zero percent reserve requirement each year for the succeeding
calendar year by 80 percent of the percentage increase in the
total reservable liabilities of all depository institutions,
measured on an annual basis as of June 30. No corresponding
adjustment is made in the event of a decrease. The exemption
applies only to accounts that would be subject to a 3 percent
reserve requirement. Effective with the reserve maintenance period
beginning December 26, 2002, for depository institutions that report
weekly, and with the period beginning January 16, 2003, for
institutions that report quarterly, the exemption was raised from
$5.7 million to $6.0 million.
(4.) The 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 3,779 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 7,578 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 3,133 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
2002
Type of transaction
and maturity Apr. May June
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 1,047 3,524 3,656
2 Gross sales 0 0 0
3 Exchanges 45,376 70,978 53,015
4 For new bills 45,376 70,978 53,015
5 Redemptions 0 0 0
Others within one year
6 Gross purchases 2,709 2,826 0
7 Gross sales 0 0 0
8 Maturity shifts 14,515 6,714 0
9 Exchanges -15,522 -9,031 0
10 Redemptions 0 0 0
One to five years
11 Gross purchases 1,142 1,439 0
12 Gross sales 0 0 0
13 Maturity shifts -14,515 -1,620 0
14 Exchanges 15,522 8,639 0
Five to ten years
15 Gross purchases 1,670 259 542
16 Gross sales 0 0 0
17 Maturity shifts 0 -5,094 0
18 Exchanges 0 391 0
More than ten years
19 Gross purchases 210 0 0
20 Gross sales 0 0 0
21 Maturity shifts 0 0 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 6,777 8,048 4,198
24 Gross sales 0 0 0
25 Redemptions 0 0 0
Matched transactions
26 Gross purchases 436,936 466,807 447,555
27 Gross sales 437,881 469,046 448,350
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S.
Treasury securities 5,833 5,810 3,423
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 102,200 106,426 98,850
40 Gross sales 100,200 109,926 94,850
41 Net change in triparty
obligations 2,000 -3,500 4,000
42 Total net change in System
Open Market Account 7,833 2,310 7,423
2002
Type of transaction
and maturity July Aug.
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 4,838 529
2 Gross sales 0 0
3 Exchanges 45,828 63,083
4 For new bills 45,828 63,083
5 Redemptions 0 0
Others within one year
6 Gross purchases 1,104 445
7 Gross sales 0 0
8 Maturity shifts 11,052 8,987
9 Exchanges -14,183 -5,040
10 Redemptions 0 0
One to five years
11 Gross purchases 1,755 1,921
12 Gross sales 0 0
13 Maturity shifts -11,052 -629
14 Exchanges 13,283 3,396
Five to ten years
15 Gross purchases 577 690
16 Gross sales 0 0
17 Maturity shifts 0 -6,714
18 Exchanges 900 1,645
More than ten years
19 Gross purchases 63 80
20 Gross sales 0 0
21 Maturity shifts 0 -1,645
22 Exchanges 0 0
All maturities
23 Gross purchases 8,336 3,665
24 Gross sales 0 0
25 Redemptions 0 0
Matched transactions
26 Gross purchases 513,400 495,729
27 Gross sales 511,902 497,031
Repurchase agreements
28 Gross purchases 0 0
29 Gross sales 0 0
30 Net change in U.S.
Treasury securities 9,834 2,363
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0
32 Gross sales 0 0
33 Redemptions 0 0
Repurchase agreements
34 Gross purchases 0 0
35 Gross sales 0 0
36 Net change in federal
agency obligations 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0
38 Gross sales 0 0
Repurchase agreements
39 Gross purchases 68,750 84,000
40 Gross sales 81,250 80,500
41 Net change in triparty
obligations -12,500 3,500
42 Total net change in System
Open Market Account -2,666 5,863
2002
Type of transaction
and maturity Sept. Oct.
U.S. TREASURY
SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 750 0
2 Gross sales 0 0
3 Exchanges 53,314 62,947
4 For new bills 53,314 62,947
5 Redemptions 0 0
Others within one year
6 Gross purchases 1,286 0
7 Gross sales 0 0
8 Maturity shifts 11,174 6,143
9 Exchanges -15,189 -5,435
10 Redemptions 0 0
One to five years
11 Gross purchases 0 0
12 Gross sales 0 0
13 Maturity shifts -11,174 -6,143
14 Exchanges 15,189 5,435
Five to ten years
15 Gross purchases 51 0
16 Gross sales 0 0
17 Maturity shifts 0 0
18 Exchanges 0 0
More than ten years
19 Gross purchases 0 0
20 Gross sales 0 0
21 Maturity shifts 0 0
22 Exchanges 0 0
All maturities
23 Gross purchases 2,087 0
24 Gross sales 0 0
25 Redemptions 0 0
Matched transactions
26 Gross purchases 449,250 429,029
27 Gross sales 449,986 425,399
Repurchase agreements
28 Gross purchases 0 0
29 Gross sales 0 0
30 Net change in U.S.
Treasury securities 1,351 3,630
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0
32 Gross sales 0 0
33 Redemptions 0 0
Repurchase agreements
34 Gross purchases 0 0
35 Gross sales 0 0
36 Net change in federal
agency obligations 0 0
Reverse repurchase
agreements
37 Gross purchases 0 0
38 Gross sales 0 0
Repurchase agreements
39 Gross purchases 93,500 72,000
40 Gross sales 94,750 77,250
41 Net change in triparty
obligations -1,250 -5,250
42 Total net change in System
Open Market Account 101 -1,620
(1.) Sales, redemptions, and negative figures reduce holdings of the
System Open Market Account; all other figures increase such holdings.
(2.) Transactions exclude changes in compensation for the effects of
inflation on the principal of inflation-indexed securities.
Transactions include the rollover of inflation compensation into new
securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve Note
Statements (1)
Millions of dollars
Wednesday
Account 2002
Oct. 30 Nov. 6 Nov. 13 Nov. 20
Consolidated condition statement
ASSETS
1 Gold certificate account 11,038 11,038 11,038 11,038
2 Special drawing fights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,079 1,079 1,080 1,076
Loans
4 To depository institutions 88 69 67 57
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 20,500 10,000 21,000 19,250
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) 608,665 608,770 608,984 606,396
11 Bought outright (4) 608,665 608,770 608,984 606,396
12 Bills 206,641 206,739 206,949 204,355
13 Notes 295,907 295,911 295,914 297,336
14 Bonds 106,117 106,120 106,122 104,705
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 629,263 618,848 630,061 625,712
17 Items in process of
collection 9,359 9,285 15,581 8,236
18 Bank premises 1,528 1,529 1,530 1,533
Other assets
19 Denominated in foreign
currencies (5) 16,043 16,210 16,413 16,244
20 All other (6) 22,038 21,908 22,323 18,750
21 Total assets 692,547 682,097 700,227 684,788
LIABILITIES
22 Federal Reserve notes 631,165 633,315 636,501 635,898
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 34,453 20,791 32,151 21,764
25 Depository institutions 28,620 15,669 27,245 16,943
26 U.S. Treasury--General
account 5,388 4,807 4,592 4,519
27 Foreign--Official accounts 238 72 76 72
28 Other 206 243 238 231
29 Deferred credit items 7,347 8,420 11,882 7,820
30 Other liabilities and
accrued dividends (7) 2,452 2,439 2,469 2,421
31 Total liabilities 675,418 664,965 683,003 667,903
CAPITAL ACCOUNTS
32 Capital paid in 8,271 8,280 8,285 8,304
33 Surplus 7,312 7,312 7,312 7,312
34 Other capital accounts 1,546 1,540 1,627 1,270
35 Total liabilities and
capital accounts 692,547 682,097 700,227 684,788
MEMO
36 Marketable U.S. government
and federal agency
securities held in custody
for foreign official and
international accounts 806,831 807,595 809,887 822,919
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued to
Banks) 751,565 753,486 755,063 757,439
38 LESS: Held by Federal
Reserve Banks 120,400 120,171 118,562 121,541
39 Federal Reserve notes, net 631,165 633,315 636,501 635,898
Collateral held against
notes, net
40 Gold certificate account 11,038 11,038 11,038 11,038
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 1,297 0 0
43 U.S. Treasury and agency
securities 617,927 618,780 623,262 622,660
44 Total collateral 631,165 653,315 636,501 635,898
Wed-
nesday End of month
Account 2002 2002
Nov. 27 Sept. Oct. Nov.
Consolidated condition statement
ASSETS
1 Gold certificate account 11,038 11,038 11,038 11,038
2 Special drawing fights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,049 1,085 1,091 1,051
Loans
4 To depository institutions 60 177 80 59
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 29,000 21,750 16,500 28,500
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) 609,614 604,191 607,865 608,985
11 Bought outright (4) 609,614 604,191 607,865 608,985
12 Bills 207,568 202,210 205,840 206,937
13 Notes 297,339 295,882 295,908 297,340
14 Bonds 104,707 106,099 106,117 104,708
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 638,684 626,129 624,456 637,554
17 Items in process of
collection 8,118 2,116 6,256 5,147
18 Bank premises 1,530 1,519 1,527 1,529
Other assets
19 Denominated in foreign
currencies (5) 16,160 16,130 16,091 16,161
20 All other (6) 19,162 20,597 21,553 19,340
21 Total assets 697,941 680,813 684,212 694,021
LIABILITIES
22 Federal Reserve notes 641,286 627,228 630,469 640,806
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 29,463 31,418 27,077 28,336
25 Depository institutions 23,972 23,168 20,878 22,978
26 U.S. Treasury--General
account 5,082 7,879 5,878 4,928
27 Foreign--Official accounts 224 150 89 78
28 Other 184 221 233 253
29 Deferred credit items 7,757 2,448 6,946 5,364
30 Other liabilities and
accrued dividends (7) 2,427 2,422 2,479 2,443
31 Total liabilities 680,933 663,516 666,971 676,848
CAPITAL ACCOUNTS
32 Capital paid in 8,349 8,264 8,278 8,349
33 Surplus 7,312 7,312 7,312 7,312
34 Other capital accounts 1,348 1,722 1,652 1,513
35 Total liabilities and
capital accounts 697,941 680,813 684,212 694,021
MEMO
36 Marketable U.S. government
and federal agency
securities held in custody
for foreign official and
international accounts 831,289 813,094 812,239 832,089
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued to
Banks) 757,885 751,190 752,063 757,793
38 LESS: Held by Federal
Reserve Banks 116,599 123,962 121,595 116,988
39 Federal Reserve notes, net 641,286 627,228 630,469 640,806
Collateral held against
notes, net
40 Gold certificate account 11,038 11,038 11,038 11,038
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 628,048 613,990 617,231 627,567
44 Total collateral 641,286 627,228 630,469 640,806
(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
Type of holding and
maturity 2002
Oct. 30 Nov. 6 Nov. 13 Nov. 20
1 Total loans 88 69 67 57
2 Within fifteen days (1) 82 30 26 45
3 Sixteen days to ninety days 6 38 41 12
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 608,665 608,770 608,984 606,396
6 Within fifteen days (1) 24,792 19,889 14,823 22,429
7 Sixteen days to ninety days 129,673 136,133 141,857 135,186
8 Ninety-one days to one year 144,114 143,363 143,437 142,178
9 One year to five years 176,890 176,183 176,183 173,804
10 Five years to ten years 51,458 51,461 50,940 52,972
11 More than ten years 81,739 81,741 81,743 79,827
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen days to ninety days 0 0 0 0
15 Ninety-one days to one year 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
Wed- End of month
nesday
Type of holding and
maturity 2002 2002
Nov. 27 Sept. Oct. Nov.
1 Total loans 60 177 80 59
2 Within fifteen days (1) 56 131 62 44
3 Sixteen days to ninety days 4 47 18 15
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 609,614 604,191 607,865 608,985
6 Within fifteen days (1) 25,646 13,316 6,607 12,306
7 Sixteen days to ninety days 135,245 128,403 129,715 147,874
8 Ninety-one days to one year 142,115 152,429 162,163 142,194
9 One year to five years 173,805 176,885 176,182 173,805
10 Five years to ten years 52,974 51,438 51,458 52,975
11 More than ten years 79,829 81,721 81,739 79,830
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 41.22
2 Nonborrowed reserves (4) 45.02 41.50 38.33 41.15
3 Nonborrowed reserves
plus extended credit
(5) 45.02 41.50 38.33 41.15
4 Required reserves 43.62 40.53 37.11 39.57 (r)
5 Monetary base (6) 513.55 593.12 584.04 634.41
Not seasonally adjusted
6 Total reserves (7) 45.31 41.89 38.53 41.20
7 Nonborrowed reserves 45.19 41.57 38.32 41.13
8 Nonborrowed reserves
plus extended credit
(5) 45.19 41.57 38.32 41.13
9 Required reserves (8) 43.80 40.59 37.10 39.55
10 Monetary base (9) 518.27 600.72 590.06 639.91
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 45.21 41.65 38.47 41.08
12 Nonborrowed reserves 45.09 41.33 38.26 41.01
13 Nonborrowed reserves
plus extended credit
(5) 45.09 41.33 38.26 41.01
14 Required reserves 43.70 40.36 37.05 39.43
15 Monetary base (12) 525.06 608.02 596.98 648.74
16 Excess reserves (13) 1.51 1.30 1.43 1.65
17 Borrowings from the
Federal Reserve .12 .32 .21 .07
2002
Item Apr. (r) May (r) June (r) July (r)
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 40.81 39.16 39.31 39.68
2 Nonborrowed reserves (4) 40.74 39.05 39.17 39.49
3 Nonborrowed reserves
plus extended credit
(5) 40.74 39.05 39.17 39.49
4 Required reserves 39.59 37.90 38.08 38.31
5 Monetary base (6) 653.92 657.89 664.11 668.76
Not seasonally adjusted
6 Total reserves (7) 40.89 40.23 38.54 39.32
7 Nonborrowed reserves 40.82 40.11 38.40 39.13
8 Nonborrowed reserves
plus extended credit
(5) 40.82 40.11 38.40 39.13
9 Required reserves (8) 39.68 38.96 37.30 37.94
10 Monetary base (9) 653.27 657.98 662.87 668.76
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 40.94 40.29 38.62 39.41
12 Nonborrowed reserves 40.87 40.18 38.47 39.22
13 Nonborrowed reserves
plus extended credit
(5) 40.87 40.18 38.47 39.22
14 Required reserves 39.73 39.03 37.38 38.04
15 Monetary base (12) 663.35 668.12 673.01 678.98
16 Excess reserves (13) 1.21 1.26 1.24 1.37
17 Borrowings from the
Federal Reserve .07 .11 .14 .19
2002
Item Aug. (r) Sept. (r) Oct. (r) Nov.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 40.05 39.28 38.92 39.56
2 Nonborrowed reserves (4) 39.72 39.05 38.78 39.29
3 Nonborrowed reserves
plus extended credit
(5) 39.72 39.05 38.78 39.29
4 Required reserves 38.42 37.80 37.37 37.95
5 Monetary base (6) 671.14 671.57 673.63 676.24
Not seasonally adjusted
6 Total reserves (7) 39.74 38.78 38.54 38.98
7 Nonborrowed reserves 39.41 38.55 38.40 38.71
8 Nonborrowed reserves
plus extended credit
(5) 39.41 38.55 38.40 38.71
9 Required reserves (8) 38.10 37.31 36.99 37.37
10 Monetary base (9) 669.32 669.72 671.49 676.65
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 39.85 38.91 38.69 39.14
12 Nonborrowed reserves 39.52 38.68 38.54 38.87
13 Nonborrowed reserves
plus extended credit
(5) 39.52 38.68 38.54 38.87
14 Required reserves 38.22 37.43 37.13 37.53
15 Monetary base (12) 679.55 679.96 681.83 687.21
16 Excess reserves (13) 1.64 1.48 1.55 1.62
17 Borrowings from the
Federal Reserve .33 .23 .14 .27
(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 MEASURES (1)
Billions of dollars, averages of daily figures
2001
1998 1999 2000 Dec.
Item Dec. Dec. Dec. (r)
Seasonally adjusted
Measures (2)
1 M1 1,096.5 1,124.4 1,088.9 1,179.3
2 M2 4,383.9 4,654.2 4,938.6 5,458.6
3 M3 6,037.7 6,539.6 7,109.9 8,027.0
M1 components
4 Currency (3) 459.3 516.9 530.1 579.9
5 Travelers checks (4) 8.2 8.3 8.0 7.8
6 Demand deposits (5) 378.4 354.5 309.9 329.9
7 Other checkable deposits (6) 250.5 244.7 240.9 261.8
Nontransaction components
8 In M2 (7) 3,287.4 3,529.8 3,849.7 4,279.2
9 In M3 only (8) 1,653.8 1,885.4 2,171.3 2,568.4
Commercial banks
10 Savings deposits, including
MMDAs 1,187.5 1,289.1 1,423.7 1,737.9
11 Small time deposits (9) 626.1 635.0 699.1 634.5
12 Large time deposits
(10),(11) 582.8 651.3 717.2 669.6
Thrift institutions
13 Savings deposits, including
MMDAs 414.7 449.7 452.1 570.1
14 Small time deposits (9) 325.6 320.4 344.5 338.8
15 Large time deposits (10) 88.6 91.1 102.9 114.7
Money market mutual funds
16 Retail 733.6 835.7 930.2 997.9
17 Institution-only 540.1 638.6 796.6 1,206.5
Repurchase agreements and
eurodollars
18 Repurchase agreements (12) 293.4 335.9 364.0 375.7
19 Eurodollars (12) 148.8 168.5 190.7 201.9
Not seasonally adjusted
Measures (2)
20 M1 1,120.4 1,148.3 1,112.3 1,203.5
21 M2 4,404.0 4,675.0 4,962.3 5,483.5
22 M3 6,066.5 6,571.1 7,145.0 8,065.2
M1 components
23 Currency (3) 463.3 521.5 535.2 584.9
24 Travelers checks (4) 8.4 8.4 8.1 7.9
25 Demand deposits (5) 395.9 371.8 326.5 347.6
26 Other checkable deposits (6) 252.8 246.6 242.5 263.2
Nontransaction components
27 In M2 (7) 3,283.6 3,526.7 3,849.9 4,280.0
28 In M3 only (8) 1,662.5 1,896.2 2,182.8 2,581.7
Commercial banks
29 Savings deposits, including
MMDAs 1,186.0 1,288.8 1,426.9 1,742.3
30 Small time deposits (9) 626.5 635.7 700.0 635.2
31 Large time deposits
(10),(11) 583.1 651.7 717.6 669.7
Thrift institutions
32 Savings deposits, including
MMDAs 414.2 449.6 453.1 571.5
33 Small time deposits (9) 325.8 320.8 345.0 339.2
34 Large time deposits (10) 88.6 91.2 103.0 114.7
Money market mutual funds
35 Retail 731.1 832.0 925.0 991.8
36 Institution-only 549.5 648.2 805.6 1,217.7
Repurchase agreements and
eurodollars
37 Repurchase agreements (12) 290.4 334.7 364.2 376.5
38 Eurodollars (12) 150.8 170.4 192.4 203.0
2002
Aug. Sept. Oct.
Item (r) (r) (r) Nov.
Seasonally adjusted
Measures (2)
1 M1 1,183.2 1,191.2 1,199.6 1,200.7
2 M2 5,680.3 5,705.4 5,753.8 5,800.7
3 M3 8,291.3 8,326.7 8,348.4 8,485.2
M1 components
4 Currency (3) 617.3 618.0 619.9 622.0
5 Travelers checks (4) 8.4 8.0 7.7 7.5
6 Demand deposits (5) 288.2 292.4 295.8 292.9
7 Other checkable deposits (6) 269.3 272.9 276.2 278.3
Nontransaction components
8 In M2 (7) 4,497.1 4,514.1 4,554.2 4,600.0
9 In M3 only (8) 2,611.0 2,621.3 2,594.6 2,684.5
Commercial banks
10 Savings deposits, including
MMDAs 1,955.1 1,983.6 2,017.0 2,054.9
11 Small time deposits (9) 603.0 596.0 589.9 585.5
12 Large time deposits 706.7 707.1 714.0 701.6
(10),(11)
Thrift institutions
13 Savings deposits, including
MMDAs 664.8 677.1 693.5 703.1
14 Small time deposits (9) 307.2 304.4 302.0 300.4
15 Large time deposits (10) 112.5 113.1 114.1 115.1
Money market mutual funds
16 Retail 967.0 953.1 951.8 956.1
17 Institution-only 1,190.8 1,176.6 1,141.1 1,218.0
Repurchase agreements and
eurodollars
18 Repurchase agreements (12) 398.1 417.7 415.9 436.9
19 Eurodollars (12) 202.9 206.8 209.5 212.9
Not seasonally adjusted
Measures (2)
20 M1 1,178.4 1,182.5 1,193.5 1,201.7
21 M2 5,654.8 5,681.2 5,720.1 5,791.4
22 M3 8,239.5 8,258.6 8,281.3 8,469.4
M1 components
23 Currency (3) 616.3 616.1 617.9 622.8
24 Travelers checks (4) 8.1 7.8 7.7 7.6
25 Demand deposits (5) 287.0 289.3 294.9 296.2
26 Other checkable deposits (6) 267.0 269.3 272.9 275.2
Nontransaction components
27 In M2 (7) 4,476.5 4,498.7 4,526.6 4,589.7
28 In M3 only (8) 2,584.6 2,577.3 2,561.2 2,678.0
Commercial banks
29 Savings deposits, including
MMDAs 1,948.5 1,979.3 2,001.6 2,053.7
30 Small time deposits (9) 602.2 596.5 591.5 587.1
31 Large time deposits
(10),(11) 704.1 704.7 712.8 703.0
Thrift institutions
32 Savings deposits, including
MMDAs 662.6 675.7 688.2 702.6
33 Small time deposits (9) 306.8 304.6 302.8 301.1
34 Large time deposits (10) 112.1 112.7 113.9 115.3
Money market mutual funds
35 Retail 956.3 942.6 942.5 945.2
36 Institution-only 1,170.7 1,144.1 1,119.2 1,211.4
Repurchase agreements and
eurodollars
37 Repurchase agreements (12) 397.4 411.2 408.8 435.9
38 Eurodollars (12) 200.4 204.7 206.4 212.3
NOTES TO TABLE 1.21
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in 1959
are available from the Money and Reserves Projections Section, Division
of Monetary Affairs, Board of Governors of the Federal Reserve System,
Washington, DC 20551.
(2.) Composition of the money stock measures is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign banks
and official institutions, less cash items in the process of collection
and Federal Reserve float, and (4) other checkable deposits (OCDs),
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted
separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result to
seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks
of nonbank issuers. Travelers checks issued by depository institutions
are included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the U.S.
government, and foreign banks and official institutions, less cash
items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small
time deposits.
(10.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(12.) Includes both overnight and term.
Commercial Banking 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 2002
Nov. May June July
Account (r) (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 5,460.4 5,498.7 5,540.6 5,591.1
2 Securities in bank credit 1,494.9 1,535.5 1,562.5 1,594.4
3 U.S. government
securities 839.9 893.3 908.9 918.3
4 Other securities 655.0 642.2 653.6 676.1
5 Loans and leases in bank
credit (2) 3,965.5 3,963.2 3,978.1 3,996.7
6 Commercial and
industrial 1,040.5 1,001.2 993.6 982.2
7 Real estate 1,772.4 1,816.6 1,838.4 1,869.2
8 Revolving home equity 152.6 179.6 186.1 192.9
9 Other 1,619.8 1,637.0 1,652.4 1,676.3
10 Consumer 558.8 569.9 568.6 564.7
11 Security (3) 154.6 169.1 169.7 177.4
12 Other loans and leases 439.2 406.4 407.7 403.2
13 Interbank loans 286.3 288.4 282.4 288.6
14 Cash assets (4) 297.0 301.5 306.7 309.4
15 Other assets (5) 495.0 482.1 475.6 484.0
16 Total assets (6) 6,467.0 6,494.8 6,529.7 6,597.8
Liabilities
17 Deposits 4,198.1 4,358.7 4,377.4 4,414.0
18 Transaction 635.8 608.8 597.4 612.2
19 Nontransaction 3,562.3 3,749.8 3,780.0 3,801.8
20 Large time 982.2 1,042.5 1,036.1 1,048.1
21 Other 2,580.1 2,707.3 2,743.9 2,753.7
22 Borrowings 1,251.0 1,235.3 1,225.9 1,231.7
23 From banks in the U.S. 401.5 380.8 373.9 386.2
24 From others 849.6 854.5 852.0 845.5
25 Net due to related foreign
offices 169.3 89.0 89.6 99.2
26 Other liabilities 404.8 349.0 386.0 408.0
27 Total liabilities 6,023.3 6,032.0 6,078.8 6,152.9
28 Residual (assets less
liabilities) (7) 443.7 462.8 450.8 444.9
Not seasonally adjusted
Assets
29 Bank credit 5,475.9 5,492.6 5,535.1 5,564.4
30 Securities in bank credit 1,498.6 1,532.8 1,558.3 1,580.2
31 U.S. government
securities 840.6 891.0 906.1 910.0
32 Other securities 658.0 641.7 652.2 670.2
33 Loans and leases in bank
credit (2) 3,977.4 3,959.8 3,976.7 3,984.2
34 Commercial and
industrial 1,042.1 1,004.8 995.8 981.1
35 Real estate 1,776.9 1,819.2 1,839.4 1,868.5
36 Revolving home equity 153.2 179.9 186.3 192.7
37 Other 1,623.7 1,639.3 1,653.1 1,675.8
38 Consumer 561.3 568.1 564.5 558.8
39 Credit cards and
related plans 225.4 222.9 221.0 215.3
40 Other 335.9 345.3 343.4 343.5
41 Security (3) 157.9 162.6 168.7 172.8
42 Other loans and leases 439.3 405.1 408.3 402.9
43 Interbank loans 289.9 285.0 284.5 282.8
44 Cash assets (4) 306.2 298.8 299.0 300.2
45 Other assets (5) 496.2 481.8 473.9 482.8
46 Total assets (6) 6,496.4 6,482.2 6,516.8 6,555.0
Liabilities
47 Deposits 4,217.3 4,351.6 4,365.2 4,384.9
48 Transaction 641.8 600.8 594.4 604.7
49 Nontransaction 3,575.4 3,750.8 3,770.8 3,780.1
50 Large time 989.0 1,046.1 1,033.8 1,037.1
51 Other 2,586.5 2,704.7 2,737.0 2,743.0
52 Borrowings 1,254.1 1,241.7 1,225.0 1,221.7
53 From banks in the U.S. 398.9 382.1 371.4 382.2
54 From others 855.4 859.7 853.6 839.6
55 Net due to related foreign
offices 172.6 88.6 85.7 90.0
56 Other liabilities 410.5 348.5 383.0 399.1
57 Total liabilities 6,054.5 6,030.4 6,058.9 6,095.7
58 Residual (assets less
liabilities) (7) 441.9 451.7 457.9 459.3
Monthly averages
2002
Aug. Sept. Oct.
Account (r) (r) (r) Nov.
Seasonally adjusted
Assets
1 Bank credit 5,672.8 5,729.0 5,753.4 5,836.4
2 Securities in bank credit 1,632.7 1,642.3 1,637.6 1,687.2
3 U.S. government
securities 945.7 961.9 968.7 1,000.2
4 Other securities 687.0 680.4 668.9 686.9
5 Loans and leases in bank
credit (2) 4,040.1 4,086.7 4,115.8 4,149.2
6 Commercial and
industrial 982.3 975.7 970.3 967.7
7 Real estate 1,900.7 1,935.0 1,967.3 1,999.9
8 Revolving home equity 197.7 201.0 205.0 207.8
9 Other 1,703.0 1,734.0 1,762.3 1,792.1
10 Consumer 574.8 582.8 584.8 585.7
11 Security (3) 176.0 180.7 182.1 186.1
12 Other loans and leases 406.3 412.5 411.2 409.8
13 Interbank loans 305.6 318.4 327.3 328.2
14 Cash assets (4) 318.1 317.2 318.6 315.1
15 Other assets (5) 499.5 498.4 510.7 518.7
16 Total assets (6) 6,720.9 6,788.0 6,834.6 6,922.6
Liabilities
17 Deposits 4,460.5 4,473.4 4,482.5 4,500.0
18 Transaction 599.1 584.0 611.4 606.2
19 Nontransaction 3,861.4 3,889.4 3,871.0 3893.8
20 Large time 1,049.2 1,044.3 1,026.4 1,004.5
21 Other 2,812.2 2,845.1 2,844.6 2,889.4
22 Borrowings 1,292.7 1,321.5 1,328.2 1,364.0
23 From banks in the U.S. 405.1 416.5 415.5 421.3
24 From others 887.6 905.0 912.7 942.7
25 Net due to related foreign
offices 94.1 100.3 119.3 121.9
26 Other liabilities 430.4 434.9 437.2 444.5
27 Total liabilities 6,277.7 6,330.0 6,367.1 6,430.4
28 Residual (assets less
liabilities) (7) 443.2 457.9 467.5 492.2
Not seasonally adjusted
Assets
29 Bank credit 5,650.3 5,722.1 5,757.4 5,853.0
30 Securities in bank credit 1,624.0 1,638.6 1,636.9 1,691.4
31 U.S. government
securities 939.4 958.5 964.9 1,001.1
32 Other securities 684.6 680.1 672.0 690.3
33 Loans and leases in bank
credit (2) 4,026.3 4,083.5 4,120.5 4,161.5
34 Commercial and
industrial 976.8 973.5 971.6 969.0
35 Real estate 1,901.8 1,937.1 1,969.4 2,005.0
36 Revolving home equity 197.8 202.1 205.6 208.6
37 Other 1,704.0 1,735.1 1,763.8 1,796.4
38 Consumer 571.3 582.3 585.4 588.2
39 Credit cards and
related plans 224.4 231.2 232.0 231.6
40 Other 346.9 351.1 353.4 356.6
41 Security (3) 171.5 178.8 184.5 189.8
42 Other loans and leases 404.8 411.7 409.6 409.5
43 Interbank loans 299.2 310.6 321.9 332.1
44 Cash assets (4) 303.8 314.1 321.0 325.0
45 Other assets (5) 496.8 500.9 509.4 519.9
46 Total assets (6) 6,675.0 6,722.4 6,834.6 6,954.0
Liabilities
47 Deposits 4,413.7 4,441.4 4,467.4 4,519.8
48 Transaction 583.8 577.9 606.2 611.8
49 Nontransaction 3,829.9 3,863.5 3,861.1 3,908.1
50 Large time 1,033.5 1,029.7 1,020.3 1,011.5
51 Other 2,796.4 2,833.8 2,840.8 2,896.6
52 Borrowings 1,272.6 1,318.9 1,330.2 1,367.2
53 From banks in the U.S. 399.9 409.6 413.7 418.5
54 From others 872.7 909.3 916.4 948.7
55 Net due to related foreign
offices 91.1 100.8 118.6 125.5
56 Other liabilities 427.6 435.0 437.3 450.1
57 Total liabilities 6,205.0 6,296.1 6,353.4 6,462.6
58 Residual (assets less
liabilities) (7) 470.0 476.3 481.2 491.4
Wednesday figures
2002
Account Nov. 6 Nov. 13 Nov. 20 Nov. 27
Seasonally adjusted
Assets
1 Bank credit 5,818.9 5,853.5 5,830.2 5,839.2
2 Securities in bank credit 1,687.6 1,706.7 1,681.7 1,676.2
3 U.S. government
securities 1,000.5 993.8 997.1 1,007.3
4 Other securities 687.1 712.9 684.7 669.0
5 Loans and leases in bank
credit (2) 4,131.4 4,146.7 4,148.5 4,162.9
6 Commercial and
industrial 966.7 963.6 967.7 971.8
7 Real estate 1,994.1 2,009.9 1,990.7 1,999.0
8 Revolving home equity 206.5 207.0 207.9 208.9
9 Other 1,787.7 1,802.9 1,782.7 1,790.1
10 Consumer 583.7 584.8 586.7 587.5
11 Security (3) 176.4 180.7 191.9 194.7
12 Other loans and leases 410.4 407.7 411.5 410.0
13 Interbank loans 325.2 321.5 330.0 339.4
14 Cash assets (4) 309.8 323.4 301.1 331.7
15 Other assets (5) 520.3 530.9 518.7 509.1
16 Total assets (6) 6,898.6 6,953.4 6,904.3 6,943.8
Liabilities
17 Deposits 4,484.6 4,509.6 4,478.5 4,528.2
18 Transaction 578.1 591.6 599.5 662.8
19 Nontransaction 3,906.5 3,918.0 3,879.0 3,865.4
20 Large time 1,006.8 1,007.7 1,007.8 1,000.0
21 Other 2,899.7 2,910.3 2,871.1 2,865.4
22 Borrowings 1,357.7 1,368.5 1,352.9 1,384.8
23 From banks in the U.S. 424.0 420.9 413.1 430.3
24 From others 933.8 947.6 939.9 954.5
25 Net due to related foreign
offices 124.8 128.6 124.0 104.8
26 Other liabilities 454.5 461.7 441.3 427.6
27 Total liabilities 6,421.7 6,468.4 6,396.8 6,445.5
28 Residual (assets less
liabilities) (7) 476.9 485.0 507.5 498.3
Not seasonally adjusted
Assets
29 Bank credit 5,843.0 5,870.0 5,837.2 5,855.3
30 Securities in bank credit 1,693.3 1,709.2 1,684.1 1,679.7
31 U.S. government
securities 1,001.6 992.8 996.6 1,008.2
32 Other securities 691.7 716.4 687.5 671.5
33 Loans and leases in bank
credit (2) 4,149.7 4,160.8 4,153.1 4,175.6
34 Commercial and
industrial 970.8 965.0 968.9 971.6
35 Real estate 2,000.1 2,016.8 1,993.8 2,003.6
36 Revolving home equity 207.2 207.9 208.8 209.6
37 Other 1,792.9 1,808.9 1,785.1 1,794.0
38 Consumer 584.5 586.1 589.4 592.0
39 Credit cards and
related plans 228.4 229.7 232.7 234.7
40 Other 356.1 356.4 356.7 357.3
41 Security (3) 183.7 185.7 190.2 199.2
42 Other loans and leases 410.6 407.3 410.7 409.2
43 Interbank loans 335.5 328.0 329.4 335.8
44 Cash assets (4) 310.6 341.9 307.8 343.2
45 Other assets (5) 525.2 533.6 516.0 508.3
46 Total assets (6) 6,938.5 6,997.5 6,914.5 6,966.8
Liabilities
47 Deposits 4,502.5 4,538.3 4,489.9 4,539.5
48 Transaction 575.8 602.2 602.4 670.1
49 Nontransaction 3,926.7 3,936.1 3,887.4 3,869.5
50 Large time 1,009.8 1,013.7 1,014.1 1,010.4
51 Other 2,916.9 2,922.4 2,873.3 2,859.1
52 Borrowings 1,366.9 1,374.1 1,353.2 1,383.3
53 From banks in the U.S. 424.2 418.8 408.3 425.0
54 From others 942.7 955.3 944.9 958.3
55 Net due to related foreign
offices 124.7 131.0 128.1 113.4
56 Other liabilities 457.2 465.8 447.5 437.9
57 Total liabilities 6,451.3 6,509.1 6,418.5 6,474.1
58 Residual (assets less
liabilities) (7) 487.3 488.4 495.9 492.7
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
2001 2002
Nov. May June July
Account (r) (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 4,860.6 4,903.0 4,935.0 4,976.9
2 Securities in bank credit 1,254.4 1,304.4 1,324.2 1,353.2
3 U.S. government
securities 755.9 819.9 832.8 841.9
4 Other securities 498.5 484.5 491.5 511.3
5 Loans and leases in bank
credit (2) 3,606.2 3,598.6 3,610.8 3,623.7
6 Commercial and
industrial 844.5 804.5 800.6 790.9
7 Real estate 1,754.7 1,798.5 1,820.0 1,850.4
8 Revolving home equity 152.6 179.6 186.1 192.9
9 Other 1,602.1 1,618.9 1,633.9 1,657.5
10 Consumer 558.8 569.9 568.6 564.7
11 Security (3) 77.1 88.8 84.1 86.6
12 Other loans and leases 371.2 336.9 337.5 331.1
13 Interbank loans 261.1 265.0 262.2 271.1
14 Cash assets (4) 258.6 256.3 261.2 263.4
15 Other assets (5) 459.0 445.7 447.8 454.5
16 Total assets (6) 5,768.1 5,804.4 5,830.9 5,891.0
Liabilities
17 Deposits 3,768.4 3,853.5 3,872.2 3,915.2
18 Transaction 624.9 598.3 587.1 602.3
19 Nontransaction 3,143.4 3,255.3 3,285.1 3,312.8
20 Large time 565.8 550.2 543.8 562.3
21 Other 2,577.6 2,705.1 2,741.3 2,750.5
22 Borrowings 1,042.4 1,045.9 1,033.0 1,030.4
23 From banks in the U.S. 377.8 359.8 352.5 365.4
24 From others 664.5 686.1 680.4 665.0
25 Net due to related foreign
offices 189.2 180.0 175.7 181.0
26 Other liabilities 323.0 272.5 300.5 317.1
27 Total liabilities 5,323.0 5,351.9 5,381.4 5,443.7
28 Residual (assets less
liabilities) (7) 445.1 452.5 449.5 447.4
Not seasonally adjusted
Assets
29 Bank credit 4,873.5 4,900.8 4,932.5 4,956.3
30 Securities in bank credit 1,258.1 1,301.7 1,320.1 1,339.0
31 U.S. government
securities 756.6 817.6 830.0 833.6
32 Other securities 501.4 484.1 490.1 505.5
33 Loans and leases in bank
credit (2) 3,615.4 3,599.1 3,612.4 3,617.3
34 Commercial and
industrial 844.4 810.3 803.9 791.2
35 Real estate 1,759.2 1,801.1 1,821.0 1,849.8
36 Revolving home equity 153.2 179.9 186.3 192.7
37 Other 1,606.0 1,621.2 1,634.7 1,657.0
38 Consumer 561.3 568.1 564.5 558.8
39 Credit cards and
related plans 225.4 222.9 221.0 215.3
40 Other 335.9 345.3 343.4 343.5
41 Security (3) 79.3 83.6 84.7 85.4
42 Other loans and leases 371.2 336.0 338.4 332.1
43 Interbank loans 264.7 261.5 264.3 265.3
44 Cash assets (4) 265.6 255.0 255.5 256.1
45 Other assets (5) 460.4 455.4 447.2 454.4
46 Total assets (6) 5,792.7 5,797.2 5,824.2 5,857.4
Liabilities
47 Deposits 3,784.1 3,841.4 3,861.8 3,895.0
48 Transaction 630.9 590.7 584.3 594.9
49 Nontransaction 3,153.2 3,250.8 3,277.5 3,300.1
50 Large time 569.2 548.3 543.0 560.2
51 Other 2,584.0 2,702.4 2,734.4 2,739.9
52 Borrowings 1,045.5 1,052.3 1,032.1 1,020.4
53 From banks in the U.S. 375.1 361.0 350.1 361.4
54 From others 670.3 691.3 682.0 659.0
55 Net due to related foreign
offices 193.9 179.6 174.5 175.8
56 Other liabilities 329.2 272.1 298.9 310.4
57 Total liabilities 5,352.7 5,345.4 5,367.3 5,401.7
58 Residual (assets less
liabilities) (7) 440.1 451.8 457.0 455.7
Monthly averages
2002
Aug. Sept. Oct.
Account (r) (r) (r) Nov.
Seasonally adjusted
Assets
1 Bank credit 5,052.0 5,111.4 5,144.9 5,215.6
2 Securities in bank credit 1,382.7 1,395.7 1,397.4 1,438.3
3 U.S. government
securities 863.8 875.7 882.5 907.4
4 Other securities 518.8 520.0 514.8 530.9
5 Loans and leases in bank
credit (2) 3,669.3 3,715.6 3,747.5 3,777.4
6 Commercial and
industrial 792.4 790.2 789.1 788.6
7 Real estate 1,881.8 1,916.0 1,947.8 1,980.1
8 Revolving home equity 197.7 201.0 205.0 207.8
9 Other 1,684.1 1,715.0 1,742.8 1,772.3
10 Consumer 574.8 582.8 584.8 585.7
11 Security (3) 85.6 86.1 85.5 81.0
12 Other loans and leases 334.7 340.5 340.3 342.0
13 Interbank loans 287.1 296.7 301.8 301.6
14 Cash assets (4) 271.6 271.2 273.3 274.1
15 Other assets (5) 470.5 470.3 477.6 480.6
16 Total assets (6) 6,006.6 6,074.9 6,122.6 6,196.6
Liabilities
17 Deposits 3,965.5 3,987.4 4,016.5 4,051.6
18 Transaction 589.1 573.9 601.6 596.7
19 Nontransaction 3,376.4 3,413.5 3,414.9 3,454.8
20 Large time 569.9 574.3 577.8 573.7
21 Other 2,806.5 2,839.2 2,837.1 2,881.1
22 Borrowings 1,078.9 1,098.2 1,098.7 1,109.4
23 From banks in the U.S. 383.5 393.8 392.4 395.7
24 From others 695.4 704.4 706.4 713.6
25 Net due to related foreign
offices 179.7 184.1 191.9 196.8
26 Other liabilities 333.6 342.7 340.2 345.5
27 Total liabilities 5,557.7 5,612.3 5,647.3 5,703.2
28 Residual (assets less
liabilities) (7) 448.9 462.6 475.3 493.4
Not seasonally adjusted
Assets
29 Bank credit 5,035.7 5,107.8 5,148.9 5,229.4
30 Securities in bank credit 1,374.0 1,392.0 1,396.7 1,442.5
31 U.S. government
securities 857.6 872.2 878.7 908.3
32 Other securities 516.5 519.7 518.0 534.3
33 Loans and leases in bank
credit (2) 3,661.7 3,715.9 3,752.2 3,786.9
34 Commercial and
industrial 788.5 788.2 789.7 788.4
35 Real estate 1,883.0 1,918.1 1,949.9 1,985.2
36 Revolving home equity 197.8 202.1 205.6 208.6
37 Other 1,685.2 1,716.1 1,744.3 1,776.6
38 Consumer 571.3 582.3 585.4 588.2
39 Credit cards and
related plans 224.4 231.2 232.0 231.6
40 Other 346.9 351.1 353.4 356.6
41 Security (3) 84.5 87.1 87.7 83.4
42 Other loans and leases 334.5 340.2 339.4 341.7
43 Interbank loans 280.7 288.8 296.5 305.5
44 Cash assets (4) 258.7 268.0 274.7 281.6
45 Other assets (5) 468.3 472.3 477.0 482.0
46 Total assets (6) 5,968.6 6,062.1 6,122.4 6,223.0
Liabilities
47 Deposits 3,933.0 3,967.4 4,008.8 4,067.8
48 Transaction 574.0 567.6 596.3 602.2
49 Nontransaction 3,359.1 3,399.8 3,412.4 3,465.6
50 Large time 568.3 571.7 579.0 577.3
51 Other 2,790.8 2,828.1 2,833.5 2,888.3
52 Borrowings 1,058.8 1,095.6 1,100.7 1,112.6
53 From banks in the U.S. 378.3 386.9 390.6 392.9
54 From others 680.5 708.7 710.1 719.6
55 Net due to related foreign
offices 178.7 183.6 192.5 201.5
56 Other liabilities 332.0 342.2 341.1 351.8
57 Total liabilities 5,502.6 5,588.8 5,643.1 5,733.6
58 Residual (assets less
liabilities) (7) 466.0 473.3 479.2 489.4
Wednesday figures
2002
Account Nov. 6 Nov. 13 Nov. 20 Nov. 27
Seasonally adjusted
Assets
1 Bank credit 5,2 |