Financial and business statistics - Brief Article
A3 GUIDE TO TABULAR PRESENTATION
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 and bankers dollar
acceptances outstanding
A22 Prime rate charged by banks on short-term
business loans
A23 Interest rates--Money and capital markets
A24 Stock market--Selected statistics
Federal Finance
A25 Federal fiscal and financing operations
A26 U.S. budget receipts and outlays
A27 Federal debt subject to statutory limitation
A27 Gross public debt of U.S. Treasury--Types
and ownership
A28 U.S. government securities
dealers--Transactions
A29 U.S. government securities dealers--Positions
and financing
A30 Federal and federally sponsored credit
agencies--Debt outstanding
Securities Markets and Corporate Finance
A31 New security issues--Tax-exempt state and local
governments and corporations
A32 Open-end investment companies--Net sales
and assets
A32 Corporate profits and their distribution
A32 Domestic finance companies--Assets and liabilities
A33 Domestic finance companies--Owned and managed
receivables
Real Estate
A34 Mortgage markets--New homes
A35 Mortgage debt outstanding
Consumer Credit
A36 Total outstanding
A36 Terms
Flow of Funds
A37 Funds raised in U.S. credit markets
A39 Summary of financial transactions
A40 Summary of credit market debt outstanding
A41 Summary of financial assets and liabilities
DOMESTIC NONFINANCIAL STATISTICS
Selected Measures
A42 Nonfinancial business activity
A42 Labor force, employment, and unemployment
A43 Output, capacity, and capacity utilization
A44 Industrial production--Indexes and gross value
A46 Housing and construction
A47 Consumer and producer prices
A48 Gross domestic product and income
A49 Personal income and saving
INTERNATIONAL STATISTICS
Summary Statistics
A50 U.S. international transactions
A51 U.S. foreign trade
A51 U.S. reserve assets
A51 Foreign official assets held at Federal Reserve
Banks
A52 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
A52 Liabilities to, and claims on, foreigners
A53 Liabilities to foreigners
A55 Banks' own claims on foreigners
A56 Banks' own and domestic customers' claims on
foreigners
A56 Banks' own claims on unaffiliated foreigners
A57 Claims on foreign countries--Combined
domestic offices and foreign branches
Reported by Nonbanking Business
Enterprises in the United States
A58 Liabilities to unaffiliated foreigners
A59 Claims on unaffiliated foreigners
Securities Holdings and Transactions
A60 Foreign transactions in securities
A61 Marketable U.S. Treasury bonds and
notes--Foreign transactions
Interest and Exchange Rates
A62 Foreign exchange rates
A63 GUIDE TO STATISTICAL RELEASES AND
SPECIAL TABLES
SPECIAL TABLES
A64 Pro forma balance sheet and income statement
for priced service operations, June 30, 2001
A66 INDEX TO STATISTICAL TABLES
Guide to Tabular Presentation
SYMBOLS AND ABBREVIATIONS
c Corrected
e Estimated
n.a. Not available
n.e.c. Not elsewhere classified
(p) Preliminary
(r) Revised (Notation appears on column heading
when about half of the figures in that column
are changed.)
* Amounts insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is 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-back 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-back 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 Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
1.10 RESERVES, MONEY STOCK, AND DEBT MEASURES
Percent annual rate of change, seasonally adjusted (1)
2000 2001
Monetary or credit
aggregate
Q3 Q4 Q1 Q2
Reserves of depository
institutions (2)
1 Total -8.3 -8.7 -2.1 1.7
2 Required -8.6 -10.4 -3.5 3.3
3 Nonborrowed -9.9 -6.4 .5 .6
4 Monetary base (3) 2.5 2.8 6.4 5.4
Concepts of money and
debt (4)
5 M1 -3.7 -3.3 5.1 5.6
6 M2 5.6 6.3 10.7 10.2
7 M3 9.0 (r) 7.3 (r) 12.6 (r) 14.1 (r)
8 Debt 4.6 4.6 (r) 4.8 4.7
Nontransaction
components
9 In M2 (5) 8.5 9.1 12.3 11.5
10 In M3 only (6) 17.0 (r) 9.8 (r) 16.9 (r) 23.0 (r)
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 11.8 12.0 17.4 20.4
12 Small time (7) 10.5 5.6 2.5 -8.3 (r)
13 Large time (8,9) 11.5 4.1 -1.3 -3.1 (r)
Thrift institutions
14 Savings, including
MMDAs 3.1 .4 6.4 21.8
15 Small time (7) 10.8 9.5 6.4 .7
16 Large time (8) 23.2 14.0 11.9 11.3 (r)
Money market mutual
funds
17 Retail 3.9 11.6 16.9 11.2
18 Institution-only 29.0 18.6 49.8 54.8
Repurchase agreements
and eurodollars
19 Repurchase
agreements (10) 11.7 (r) 2.1 (r) -7.1 (r) 21.1 (r)
20 Eurodollars (10) .6 10.3 3.1 -10.7 (r)
Debt components (4)
21 Federal -7.3 -8.0 -5.4 -6.6
22 Nonfederal 7.6 7.6 (r) 7.2 7.2
2001
Monetary or credit
aggregate
Mar. Apr. May
Reserves of depository
institutions (2)
1 Total -18.8 16.6 3.1
2 Required -18.0 20.8 11.5
3 Nonborrowed -19.0 16.9 -1.9
4 Monetary base (3) 2.6 7.1 6.3
Concepts of money and
debt (4)
5 M1 13.8 5.4 .6
6 M2 14.4 10.4 5.2
7 M3 9.8 (r) 18.2 (r) 14.0 (r)
8 Debt 6.1 4.0 (r) 4.3 (r)
Nontransaction
components
9 In M2 (5) 14.6 11.9 6.8
10 In M3 only (6) -.6 (r) 36.0 (r) 33.7 (r)
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 19.7 20.4 (r) 18.0
12 Small time (7) -6.9 -9.0 -8.9
13 Large time (8,9) -47.0 35.1 (r) 9.8 (r)
Thrift institutions
14 Savings, including
MMDAs 23.6 10.2 32.1
15 Small time (7) -3.4 1.0 7.2
16 Large time (8) 2.3 20.2 19.9
Money market mutual
funds
17 Retail 24.6 18.1 -11.8
18 Institution-only 40.7 42.4 67.2
Repurchase agreements
and eurodollars
19 Repurchase
agreements (10) -17.3 (r) 76.6 (r) 10.2 (r)
20 Eurodollars (10) 14.7 -54.5 (r) 13.3 (r)
Debt components (4)
21 Federal 1.2 -10.0 (r) -15.8 (r)
22 Nonfederal 7.3 (r) 7.2 8.7 (r)
2001
Monetary or credit
aggregate
June (r) July
Reserves of depository
institutions (2)
1 Total -3.5 25.6
2 Required -14.4 25.0
3 Nonborrowed -4.0 24.1
4 Monetary base (3) 5.6 11.6
Concepts of money and
debt (4)
5 M1 6.6 13.2
6 M2 9.6 8.5
7 M3 13.1 6.8
8 Debt 4.3 n.a.
Nontransaction
components
9 In M2 (5) 10.5 7.2
10 In M3 only (6) 20.7 3.1
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 18.9 12.3
12 Small time (7) -11.7 -16.3
13 Large time (8,9) 5.6 -8.8
Thrift institutions
14 Savings, including
MMDAs 24.4 23.1
15 Small time (7) -7.2 -11.7
16 Large time (8) -10.9 19.7
Money market mutual
funds
17 Retail 12.1 14.0
18 Institution-only 44.1 8.1
Repurchase agreements
and eurodollars
19 Repurchase
agreements (10) 4.4 -11.6
20 Eurodollars (10) 8.8 41.1
Debt components (4)
21 Federal 2.7 n.a.
22 Nonfederal 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
$100,0001, and (3) balances in retail money market mutual funds.
Excludes individual retirement accounts (IRAs) and Keogh balances at
depository institutions and money market funds. Seasonally adjusted M2
is calculated by summing savings deposits, small-denomination time
deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds, (3) RP
liabilities (overnight and term) issued by all depository institutions,
and (4) eurodollars (overnight and term) held by U.S. residents at
foreign branches of U.S. banks worldwide and at all banking offices in
the United Kingdom and Canada. Excludes amounts held by depository
institutions, the U.S. government, money market funds, and foreign
banks and official institutions. Seasonally adjusted M3 is calculated
by summing large time deposits, institutional money fund balances, RP
liabilities, and eurodollars, each seasonally adjusted separately, and
adding this result to seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally adjusted
separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small
time deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(10.) Includes both overnight and term.
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT (1)
Millions of dollars
Average of
daily figures
Factor 2001
May June July
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 585,031 587,457 (r) 593,722
U.S. government
securities (2)
2 Bought outright--
System account (3) 526,810 532,187 534,518
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) 21,907 18,444 21,095
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 129 105 113
9 Seasonal credit 80 119 177
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float -91 539 521
13 Other Federal Reserve
assets 36,187 36,052 (r) 37,287
14 Gold stock 11,046 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,488 32,612 (r) 32,700
ABSORBING RESERVE FUNDS
17 Currency in circulation 591,535 594,536 (r) 601,087
18 Reverse repurchase agree-
ments--triparty (4) 0 0 0
19 Treasury cash holdings 514 469 421
Deposits, other than
reserve balances,
with Federal Reserve
Banks
20 Treasury 5,149 5,605 5,127
21 Foreign 100 88 92
22 Service-related balances
and adjustments 6,946 7,185 7,338
23 Other 350 298 302
24 Other Federal Reserve
liabilities and
capital 17,971 18,027 17,889
25 Reserve balances with
Federal Reserve
Banks (5) 8,199 7,106 (r) 7,408
Average of daily figures for week
ending on date indicated
Factor 2001
June 13 June 20 June 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 585,179 587,588 586,991
U.S. government
securities (2)
2 Bought outright--
System account (3) 531,105 532,906 535,009
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) 17,643 17,286 14,931
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 268 57 14
9 Seasonal credit 106 122 138
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 455 1,002 147
13 Other Federal Reserve
assets 35,592 36,205 36,742
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 32,593 (r) 32,618 (r) 32,644 (r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 594,278 (r) 594,018 (r) 593,979 (r)
18 Reverse repurchase agree-
ments--triparty (4) 0 0 0
19 Treasury cash holdings 481 463 444
Deposits, other than
reserve balances,
with Federal Reserve
Banks
20 Treasury 4,878 5,194 6,748
21 Foreign 85 101 79
22 Service-related balances
and adjustments 7,008 7,204 7,299
23 Other 311 284 279
24 Other Federal Reserve
liabilities and
capital 18,130 18,065 18,100
25 Reserve balances with
Federal Reserve
Banks (5) 5,846 8,121 5,952 (r)
Average of daily figures for week
ending on date indicated
Factor 2001
July 4 July 11 July 18 July 25
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 594,395 591,402 591,868 595,806
U.S. government
securities (2)
2 Bought outright--
System account (3) 534,046 532,767 534,240 535,822
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) 22,186 20,694 19,729 21,843
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 27 150 164 156
9 Seasonal credit 148 161 176 193
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 1,184 841 368 92
13 Other Federal Reserve
assets 36,794 36,779 37,182 37,691
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 32,670 32,684 32,698 32,712
ABSORBING RESERVE FUNDS
17 Currency in circulation 598,386 601,487 601,089 600,585
18 Reverse repurchase agree-
ments--triparty (4) 0 0 0 0
19 Treasury cash holdings 440 439 412 407
Deposits, other than
reserve balances,
with Federal Reserve
Banks
20 Treasury 6,444 4,796 4,937 4,923
21 Foreign 122 77 75 107
22 Service-related balances
and adjustments 7,572 7,284 7,076 7,498
23 Other 285 283 325 303
24 Other Federal Reserve
liabilities and
capital 17,725 17,581 17,927 18,056
25 Reserve balances with
Federal Reserve
Banks (5) 9,334 5,382 5,967 9,883
End-of-month figures
Factor 2001
May June July
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 591,914 595,137 (r) 600,662
U.S. government
securities (2)
2 Bought outright--
System account (3) 527,562 535,110 535,578
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) 30,310 23,250 26,350
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 67 3 3
9 Seasonal credit 86 146 197
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float -998 -374 (r) 917
13 Other Federal Reserve
assets 34,877 36,992 (r) 37,606
14 Gold stock 11,046 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,562 32,670 (r) 32,726
ABSORBING RESERVE FUNDS
17 Currency in circulation 595,911 596,674 (r) 604,179
18 Reverse repurchase agree-
ments--triparty (4) 0 0 0
19 Treasury cash holdings 510 444 418
Deposits, other than
reserve balances,
with Federal Reserve
Banks
20 Treasury 4,396 7,188 5,592
21 Foreign 85 102 84
22 Service-related balances
and adjustments 7,044 7,572 (r) 7,364
23 Other 321 271 330
24 Other Federal Reserve
liabilities and
capital 17,845 17,583 18,219
25 Reserve balances with
Federal Reserve
Banks (5) 11,609 11,217 (r) 10,446
Wednesday figures
Factor 2001
June 13 June 20 June 27
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 589,447 584,961 591,383
U.S. government
securities (2)
2 Bought outright--
System account (3) 531,874 534,482 535,191
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) 20,500 13,750 19,505
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 29 83 10
9 Seasonal credit 111 128 142
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 1,104 43 -417
13 Other Federal Reserve
assets 35,820 36,465 36,942
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 32,593 (r) 32,618 (r) 32,644 (r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 595,384 (r) 595,172 (r) 596,044 (r)
18 Reverse repurchase agree-
ments--triparty (4) 0 0 0
19 Treasury cash holdings 466 444 444
Deposits, other than
reserve balances,
with Federal Reserve
Banks
20 Treasury 4,729 6,758 6,857
21 Foreign 82 133 73
22 Service-related balances
and adjustments 7,008 7,204 7,299
23 Other 288 266 279
24 Other Federal Reserve
liabilities and
capital 17,766 17,851 17,869
25 Reserve balances with
Federal Reserve
Banks (5) 9,560 2,996 8,406 (r)
Wednesday figures
Factor
July 4 July 11 July 18 July 25
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 593,106 597,469 592,568 610,260
U.S. government
securities (2)
2 Bought outright--
System account (3) 532,954 532,818 536,102 536,392
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) 20,350 27,500 16,850 35,050
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 8 27 270 18
9 Seasonal credit 149 162 191 194
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 3,153 -315 1,766 621
13 Other Federal Reserve
assets 36,481 37,267 37,379 37,976
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 32,670 32,684 32,698 32,712
ABSORBING RESERVE FUNDS
17 Currency in circulation 601,661 602,013 601,833 602,010
18 Reverse repurchase agree-
ments--triparty (4) 0 0 0 0
19 Treasury cash holdings 417 413 406 418
Deposits, other than
reserve balances,
with Federal Reserve
Banks
20 Treasury 5,684 5,444 5,619 4,717
21 Foreign 79 81 70 79
22 Service-related balances
and adjustments 7,572 7,284 7,083 7,498
23 Other 302 259 321 291
24 Other Federal Reserve
liabilities and
capital 17,748 17,786 17,690 17,855
25 Reserve balances with
Federal Reserve
Banks (5) 5,558 10,115 5,488 23,348
(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 1998 1999 2000 2001
Dec. Dec. Dec. Jan. Feb.
1 Reserve balances with
Reserve Banks (2) 9,026 5,262 7,159 7,190 6,615
2 Total vault cash (3) 44,294 60,619 45,229 47,683 48,517
3 Applied vault
cash (4) 36,183 36,392 31,381 32,601 32,734
4 Surplus vault
cash (5) 8,111 24,227 13,848 15,083 15,783
5 Total reserves (6) 45,209 41,654 38,540 39,791 39,349
6 Required reserves 43,695 40,357 37,216 38,538 37,917
7 Excess reserve
balances at Reserve
Banks (7) 1,514 1,297 1,325 1,253 1,432
8 Total borrowing at
Reserve Banks 117 320 210 73 51
9 Adjustment 101 179 99 39 30
10 Seasonal 15 67 111 34 21
11 Special Liquidity
Facility (8) 0 74 0 0 ...
12 Extended credit (9) 0 0 0 0 0
Prorated monthly averages of
biweekly averages
Reserve classification 2001
Mar. Apr. May June July
1 Reserve balances with
Reserve Banks (2) 6,737 6,863 7,610 7,058 7,673
2 Total vault cash (3) 44,104 43,656 43,263 43,133 43,908
3 Applied vault
cash (4) 30,978 31,728 31,772 31,175 31,623
4 Surplus vault
cash (5) 13,127 11,929 11,491 11,958 12,285
5 Total reserves (6) 37,715 38,591 39,382 38,233 39,296
6 Required reserves 36,329 37,314 38,363 36,873 37,890
7 Excess reserve
balances at Reserve
Banks (7) 1,385 1,277 1,019 1,360 1,406
8 Total borrowing at
Reserve Banks 58 51 213 229 283
9 Adjustment 38 15 134 110 109
10 Seasonal 20 35 79 120 174
11 Special Liquidity
Facility (8) ... ... ... ... ...
12 Extended credit (9) 0 0 0 0 0
Biweekly averages of daily
figures for two-week periods
ending on dates indicated
Reserve classification 2001
Apr. 4 Apr. 18 May 2 May 16
1 Reserve balances with
Reserve Banks (2) 7,287 6,326 7,350 7,159
2 Total vault cash (3) 44,424 43,409 43,690 42,645
3 Applied vault
cash (4) 31,523 31,199 32,413 31,031
4 Surplus vault
cash (5) 12,902 12,210 11,277 11,615
5 Total reserves (6) 38,809 37,525 39,763 38,189
6 Required reserves 37,062 36,329 38,549 37,302
7 Excess reserve
balances at Reserve
Banks (7) 1,747 1,196 1,214 887
8 Total borrowing at
Reserve Banks 60 42 59 346
9 Adjustment 42 4 20 267
10 Seasonal 18 38 39 79
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 2001
May 30 June 13 June 27 (r)
1 Reserve balances with
Reserve Banks (2) 8,159 6,756 7,275
2 Total vault cash (3) 43,900 42,155 43,811
3 Applied vault
cash (4) 32,530 30,268 (r) 31,963
4 Surplus vault
cash (5) 11,370 11,888 (r) 11,848
5 Total reserves (6) 40,689 37,024 (r) 39,238
6 Required reserves 39,582 35,775 (r) 37,818
7 Excess reserve
balances at Reserve
Banks (7) 1,107 1,248 (r) 1,420
8 Total borrowing at
Reserve Banks 97 295 166
9 Adjustment 13 195 36
10 Seasonal 85 101 130
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 2001
July 11 July 25 Aug. 8
1 Reserve balances with
Reserve Banks (2) 7,357 (r) 7,936 7,639
2 Total vault cash (3) 44,209 43,325 44,716
3 Applied vault
cash (4) 31,432 (r) 31,482 32,303
4 Surplus vault
cash (5) 12,777 11,843 12,413
5 Total reserves (6) 38,789 (r) 39,418 39,942
6 Required reserves 37,227 (r) 38,028 38,783
7 Excess reserve
balances at Reserve
Banks (7) 1,562 (r) 1,389 1,159
8 Total borrowing at
Reserve Banks 244 344 214
9 Adjustment 89 159 27
10 Seasonal 155 185 188
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 (5021 weekly
statistical release. For ordering address, see inside front cover.
Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to compensate
for float and includes other off-balance-sheet "as-of" adjustments.
(3.) Vault cash eligible to satisfy reserve requirements. It includes
only vault cash held by those banks and thrift institutions that are
not exempt from reserve requirements. Dates refer to the maintenance
periods in which the vault cash can be used to satisfy reserve
requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "nonbound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current reserve
requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus applied
vault cash (line 3).
(7.) Total reserves (line 5) less required reserves (line 6).
(8.) Borrowing at the discount window under the terms and conditions
established for the Century Date Change Special Liquidity Facility in
effect from October 1, 1999, through April 7, 2000.
(9.) Consists of borrowing at the discount window under the terms and
conditions established for the extended credit program to help
depository institutions deal with sustained liquidity pressures.
Because there is not the same need to repay such borrowing promptly as
with traditional short-term adjustment credit, the money market effect
of extended credit is similar to that of nonborrowed reserves.
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Adjustment credit (1)
Federal Reserve
Bank
On
9/7/01 Effective date Previous rate
Boston 3.00 8/21/01 3.25
New York 3.00 8/21/01 3.25
Philadelphia 3.00 8/21/01 3.25
Cleveland 3.00 8/23/01 3.25
Richmond 3.00 8/21/01 3.25
Atlanta 3.00 8/23/01 3.25
Chicago 3.00 8/21/01 3.25
St. Louis 3.00 8/23/01 3.25
Minneapolis 3.00 8/22/01 3.25
Kansas City 3.00 8/21/01 3.25
Dallas 3.00 8/21/01 3.25
San Francisco 3.00 8/21/01 3.25
Seasonal credit (2)
Boston 3.50 9/6/01 3.60
New York 3.50 9/6/01 3.60
Philadelphia 3.50 9/6/01 3.60
Cleveland 3.50 9/6/01 3.60
Richmond 3.50 9/6/01 3.60
Atlanta 3.50 9/6/01 3.60
Chicago 3.50 9/6/01 3.60
St. Louis 3.50 9/6/01 3.60
Minneapolis 3.50 9/6/01 3.60
Kansas City 3.50 9/6/01 3.60
Dallas 3.50 9/6/01 3.60
San Francisco 3.50 9/6/01 3.60
Extended credit (3)
Boston 4.00 9/6/01 4.10
New York 4.00 9/6/01 4.10
Philadelphia 4.00 9/6/01 4.10
Cleveland 4.00 9/6/01 4.10
Richmond 4.00 9/6/01 4.10
Atlanta 4.00 9/6/01 4.10
Chicago 4.00 9/6/01 4.10
St. Louis 4.00 9/6/01 4.10
Minneapolis 4.00 9/6/01 4.10
Kansas City 4.00 9/6/01 4.10
Dallas 4.00 9/6/01 4.10
San Francisco 4.00 9/6/01 4.10
Range of rates for adjustment credit in recent years (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 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
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. 5 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 5.50-4.00 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
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
In effect Sept. 7, 2001 3.00 3.00
(1.) Available on a short-term basis to help depository institutions
meet temporary needs for funds that cannot be met through reasonable
alternative sources. The highest rate established for loans to
depository institutions may be charged on adjustment credit loans of
unusual size that result from a major operating problem at the
borrower's facility.
(2.) Available to help relatively small depository institutions meet
regular seasonal needs for funds that arise from a clear pattern of
intrayearly movements in their deposits and loans and that cannot be
met through special industry lenders. The discount rate on seasonal
credit takes into account rates charged by market sources of funds
and ordinarily is reestablished on the first business day of each
two-week reserve maintenance period; however, it is never less than
the discount rate applicable to adjustment credit.
(3.) May be made available to depository institutions when similar
assistance is not reasonably available from other sources, including
special industry lenders. Such credit may be provided when exceptional
circumstances (including sustained deposit drains, impaired access to
money market funds, or sudden deterioration in loan repayment
performance) or practices involve only a particular institution, or to
meet the needs of institutions experiencing difficulties adjusting to
changing market conditions over a longer period (particularly at times
of deposit disintermediation). The discount rate applicable to
adjustment credit ordinarily is charged on extended-credit loans
outstanding less than thirty days; however, at the discretion of the
Federal Reserve Bank, this time period may be shortened. Beyond this
initial period, a flexible rate somewhat above rates charged on
market sources of funds is charged. The rate ordinarily is
reestablished on the first business day of each two-week reserve
maintenance period, but it is never less than the discount rate
applicable to adjustment credit plus 50 basis points.
(4.) For earlier data, see the following publications of the Board
of Governors: Banking and Monetary Statistics, 1914-1941, and
1941-1970; and the Annual Statistical Digest, 1970-1979, and
1980-1989. See also the Board's Statistics: Releases and Historical
Data web pages (http://www.federalreserve.gov/releases/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Type of deposit
Percentage of
deposits Effective date
Net transaction accounts (2)
1 $0 million-$42.8 million (3) 3 12/28/00
2 More than $42.8 million (4) 10 12/28/00
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 corporation.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instruments, payment orders of withdrawal, or telephone
or preauthorized transfers for the purpose of making payments to third
persons or others. However, accounts subject to the rules that permit
no more than six preauthorized, automatic, or other transfers per month
(of which no more than three may be by check, draft, debit card, or
similar order payable directly to third parties) are savings deposits,
not transaction accounts.
(3.) The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change
in transaction accounts held by all depository institutions, determined
as of June 30 of each year. Effective with the reserve maintenance
period beginning December 28, 2000, for depository institutions that
report weekly, and with the period beginning January 18, 2001, for
institutions that report quarterly, the amount was decreased from
$44.3 million to $42.8 million.
Under the Garn--St Germain Depository Institutions Act of 1982, the
Board adjusts the amount of reservable liabilities subject to a zero
percent reserve requirement each year for the succeeding calendar year
by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual
basis as of June 30. No corresponding adjustment is made in the event
of a decrease. The exemption applies only to accounts that would be
subject to a 3 percent reserve requirement. Effective with the reserve
maintenance period beginning December 28, 2000, for depository
institutions that report weekly, and with the period beginning January
18, 2001, for institutions that report quarterly, the exemption was
raised from $5.0 million to $5.5 million.
(4.) The reserve requirement was reduced from 12 percent to 10 percent
on Apr. 2, 1992, for institutions that report weekly, and on Apr. 16,
1992, for institutions that report quarterly.
(5.) For institutions that report weekly, the reserve requirement on
nonpersonal time deposits with an original maturity of less than 1.5
years was reduced from 3 percent to 1.5 percent for the maintenance
period that began Dec. 13, 1990, and to zero for the maintenance
period that began Dec. 27, 1990. For institutions that report
quarterly, the reserve requirement on nonpersonal time deposits with
an original maturity of less than 1.5 years was reduced from 3
percent to zero on Jan. 17, 1991.
The reserve requirement on nonpersonal time deposits with an original
maturity of 1.5 years or more has been zero since Oct. 6, 1983.
(6.) The reserve requirement on eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as the
reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
Type of transaction
and maturity 1998 1999 2000
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 3,550 0 8,676
2 Gross sales 0 0 0
3 Exchanges 450,835 464,218 477,904
4 For new bills 450,835 464,218 477,904
5 Redemptions 2,000 0 24,522
Others within one year
6 Gross purchases 6,297 11,895 8,809
7 Gross sales 0 0 0
8 Maturity shifts 46,062 50,590 62,025
9 Exchanges -49,434 -53,315 -54,656
10 Redemptions 2,676 1,429 3,779
One to five years
11 Gross purchases 12,901 19,731 14,482
12 Gross sales 0 0 0
13 Maturity shifts -37,777 -44,032 -52,068
14 Exchanges 37,154 42,604 46,177
Five to ten years
15 Gross purchases 2,294 4,303 5,871
16 Gross sales 0 0 0
17 Maturity shifts -5,908 -5,841 -6,801
18 Exchanges 7,439 7,583 6,585
More than ten years
19 Gross purchases 4,884 9,428 5,833
20 Gross sales 0 0 0
21 Maturity shifts -2,377 -717 -3,155
22 Exchanges 4,842 3,139 1,894
All maturities
23 Gross purchases 29,926 45,357 43,670
24 Gross sales 0 0 0
25 Redemptions 4,676 1,429 28,301
Matched transactions
26 Gross purchases 4,430,457 4,413,430 4,399,257
27 Gross sales 4,434,358 4,431,685 4,381,188
Repurchase agreements
28 Gross purchases 512,671 281,599 0
29 Gross sales 514,186 301,273 0
30 Net change in U.S. Treasury
securities 19,835 5,999 33,439
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 25 0 0
33 Redemptions 322 157 51
Repurchase agreements
34 Gross purchases 284,316 360,069 0
35 Gross sales 276,266 370,772 0
36 Net change in federal
agency obligations 7,703 -10,859 -51
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 0 304,989 890,236
40 Gross sales 0 164,349 987,501
41 Net change in triparty
obligations 0 140,640 -97,265
42 Total net change in System
Open Market Account 27,538 135,780 -63,877
2000 2001
Type of transaction
and maturity Dec. Jan. Feb. Mar.
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 509 520 2,683 579
2 Gross sales 0 0 0 0
3 Exchanges 39,428 40,769 42,767 46,712
4 For new bills 39,428 40,769 42,767 46,712
5 Redemptions 228 228 638 211
Others within one year
6 Gross purchases 1,420 0 1,605 67
7 Gross sales 0 0 0 0
8 Maturity shifts 0 10,296 5,609 0
9 Exchanges 0 -6,667 -6,799 0
10 Redemptions 0 2,422 1,529 0
One to five years
11 Gross purchases 1,045 925 2,983 1,883
12 Gross sales 0 0 0 0
13 Maturity shifts 0 -10,296 -2,784 0
14 Exchanges 0 6,667 4,945 0
Five to ten years
15 Gross purchases 771 1,283 0 0
16 Gross sales 0 0 0 0
17 Maturity shifts 0 0 -1,855 0
18 Exchanges 0 0 971 0
More than ten years
19 Gross purchases 0 296 495 1,000
20 Gross sales 0 0 0 0
21 Maturity shifts 0 0 -971 0
22 Exchanges 0 0 883 0
All maturities
23 Gross purchases 3,745 3,024 7,766 3,529
24 Gross sales 0 0 0 0
25 Redemptions 1,145 2,650 2,166 211
Matched transactions
26 Gross purchases 345,680 356,250 320,060 396,029
27 Gross sales 348,917 352,336 322,056 395,151
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in U.S. Treasury
securities -637 4,289 3,604 4,196
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0 0
32 Gross sales 0 0 0 0
33 Redemptions 0 0 120 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 -120 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0 0
38 Gross sales 0 0 0 0
Repurchase agreements
39 Gross purchases 95,470 104,930 67,655 86,472
40 Gross sales 79,365 129,385 62,910 88,142
41 Net change in triparty
obligations 16,105 -24,455 4,745 -1,670
42 Total net change in System
Open Market Account 15,468 -20,166 8,229 2,526
2001
Type of transaction
and maturity Apr. May June
U.S. TREASURY SECURITIES (2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 308 624 2,165
2 Gross sales 0 0 0
3 Exchanges 38,317 47,112 40,363
4 For new bills 38,317 47,112 40,363
5 Redemptions 3,537 3,939 0
Others within one year
6 Gross purchases 3,027 2,174 1,410
7 Gross sales 0 0 0
8 Maturity shifts 12,204 8,117 0
9 Exchanges -7,000 -8,965 0
10 Redemptions 4,368 2,287 0
One to five years
11 Gross purchases 4,480 2,685 1,428
12 Gross sales 0 0 0
13 Maturity shifts -12,204 -1,913 0
14 Exchanges 7,000 6,508 0
Five to ten years
15 Gross purchases 1,390 657 0
16 Gross sales 0 0 0
17 Maturity shifts 0 -5,130 0
18 Exchanges 0 2,457 0
More than ten years
19 Gross purchases 913 1,241 1,419
20 Gross sales 0 0 0
21 Maturity shifts 0 -1,074 0
22 Exchanges 0 0 0
All maturities
23 Gross purchases 10,118 7,380 6,422
24 Gross sales 0 0 0
25 Redemptions 7,905 6,226 0
Matched transactions
26 Gross purchases 381,667 398,039 367,462
27 Gross sales 381,895 397,600 366,411
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S. Treasury
securities 1,984 1,592 7,472
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 85,166 120,135 65,005
40 Gross sales 82,154 114,832 72,065
41 Net change in triparty
obligations 3,012 5,303 -7,060
42 Total net change in System
Open Market Account 4,996 6,895 412
(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
Account 2001
June 27 July 4 July 11 July 18
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 1,120 1,092 1,063 1,079
Loans
4 To depository institutions 152 157 189 461
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty Obligations
7 Repurchase agreements--
triparty (2) 19,505 20,350 27,500 16,850
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) 535,191 532,954 532,818 536,102
11 Bought outright (4) 535,191 532,954 532,818 536,102
12 Bills 181,211 180,728 179,604 179,999
13 Notes 254,225 252,428 252,565 255,355
14 Bonds 99,754 99,798 100,648 100,748
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 554,858 553,471 560,517 553,423
17 Items in process of
collection 7,888 13,594 8,027 9,475
18 Bank premises 1,505 1,510 1,512 1,513
Other assets
19 Denominated in foreign
currencies (5) 14,782 14,439 14,593 14,652
20 All other (6) 20,490 20,209 20,805 21,049
21 Total assets 613,887 617,559 619,761 614,436
LIABILITIES
22 Federal Reserve notes 564,964 570,500 570,805 570,621
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 23,675 18,886 23,677 18,467
25 Depository institutions 16,466 12,822 17,893 12,458
26 U.S. Treasury--General
account 6,857 5,684 5,444 5,619
27 Foreign--Official accounts 73 79 81 70
28 Other 279 302 259 321
29 Deferred credit items 7,380 10,426 7,493 7,658
30 Other liabilities and
accrued dividends (7) 3,305 3,071 3,071 3,030
31 Total liabilities 599,324 602,882 605,046 599,776
CAPITAL ACCOUNTS
32 Capital paid in 7,139 7,143 7,143 7,153
33 Surplus 6,671 6,598 6,677 6,721
34 Other capital accounts 753 936 894 786
35 Total liabilities and
capital accounts 613,887 617,559 619,761 614,436
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) 736,246 735,350 735,520 737,247
38 LESS: Held by Federal
Reserve Banks 171,282 164,851 164,714 166,627
39 Federal Reserve notes, net 564,964 570,500 570,805 570,621
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 551,721 557,256 557,562 557,377
44 Total collateral 564,964 570,500 570,805 570,621
Wednes-
day End of month
Account 2001 2001
July 25 May 31 June 30 July 31
Consolidated condition statement
ASSETS
1 Gold certificate account 11,044 11,046 11,044 11,044
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,092 1,075 1,126 1,109
Loans
4 To depository institutions 212 154 150 201
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty Obligations
7 Repurchase agreements--
triparty (2) 35,050 30,310 23,250 26,350
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) 536,392 527,562 535,110 535,578
11 Bought outright (4) 536,392 527,562 535,110 535,578
12 Bills 180,278 177,911 181,126 180,184
13 Notes 255,362 251,415 254,228 254,627
14 Bonds 100,752 98,236 99,756 100,767
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and securities 571,664 558,035 558,519 562,139
17 Items in process of
collection 7,160 7,670 5,573 10,421
18 Bank premises 1,514 1,504 1,509 1,505
Other assets
19 Denominated in foreign
currencies (5) 14,779 14,759 14,428 14,665
20 All other (6) 21,520 18,441 20,667 21,251
21 Total assets 630,973 614,730 615,066 624,333
LIABILITIES
22 Federal Reserve notes 570,808 564,934 565,574 572,980
23 Reverse repurchase
agreements--triparty (2) 0 0 0 0
24 Total deposits 35,204 24,040 26,208 23,733
25 Depository institutions 30,118 19,238 18,647 17,727
26 U.S. Treasury--General
account 4,717 4,396 7,188 5,592
27 Foreign--Official accounts 79 85 102 84
28 Other 291 321 271 330
29 Deferred credit items 7,106 7,910 5,701 9,401
30 Other liabilities and
accrued dividends (7) 3,068 3,467 3,140 3,076
31 Total liabilities 616,186 600,351 600,623 609,191
CAPITAL ACCOUNTS
32 Capital paid in 7,153 7,070 7,143 7,164
33 Surplus 6,729 6,557 6,584 6,723
34 Other capital accounts 905 751 716 1,256
35 Total liabilities and
capital accounts 630,973 614,730 615,066 624,333
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) 738,458 736,954 735,805 738,388
38 LESS: Held by Federal
Reserve Banks 167,650 172,020 170,231 165,409
39 Federal Reserve notes, net 570,808 564,934 565,574 572,980
Collateral held against
notes, net
40 Gold certificate account 11,044 11,046 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 557,564 551,689 552,330 559,736
44 Total collateral 570,808 564,934 565,574 572,980
(1.) Some of the data in this table also appear in the Board's H.4.1
(503) weekly statistical release. For ordering address, see inside
front cover.
(2.) Cash value of agreements arranged through third-party custodial
banks.
(3.) Face value of the securities.
(4.) Includes securities loaned--fully guaranteed by U.S. Treasury
securities pledged with Federal Reserve Banks--and includes
compensation that adjusts for the effects of inflation on the
principal of inflation-indexed securities. Excludes securities sold
and scheduled to be bought back under matched sale-purchase
transactions.
(5.) Valued monthly at market exchange rates.
(6.) Includes special investment account at the Federal Reserve
Bank of Chicago in Treasury bills maturing within ninety days.
(7.) Includes exchange-translation account reflecting the monthly
revaluation at market exchange rates of foreign exchange commitments.
1.19 FEDERAL RESERVE BANKS Maturity Distribution
of Loan and Security Holding
Millions of dollars
Wednesday
Type of holding and maturity 2001
June 27 July 4 July 11 July 18
1 Total loans 152 157 189 461
2 Within fifteen days (2) 146 23 50 452
3 Sixteen days to ninety days 6 134 140 9
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (3) 535,191 532,954 532,818 536,102
6 Within fifteen days (2) 21,211 10,993 14,493 20,951
7 Sixteen days to ninety days 115,867 124,830 119,377 112,501
8 Ninety-one days to one year 123,266 124,036 124,865 126,909
9 One year to five years 141,089 139,331 139,333 144,849
10 Five years to ten years 57,526 57,529 57,666 53,804
11 More than ten years 76,232 76,234 77,084 77,088
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (2) 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 (1)
Type of holding and maturity 2001 2001
July 25 May 31 June 30 July 31
1 Total loans 212 154 150 201
2 Within fifteen days (2) 205 132 114 160
3 Sixteen days to ninety days 7 21 36 41
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (3) 536,392 527,562 535,108 535,578
6 Within fifteen days (2) 21,082 4,645 10,105 13,674
7 Sixteen days to ninety days 111,414 115,568 126,214 111,161
8 Ninety-one days to one year 128,145 135,422 123,941 135,091
9 One year to five years 144,849 139,658 141,089 144,732
10 Five years to ten years 53,809 57,508 57,527 53,824
11 More than ten years 77,092 74,762 76,232 77,095
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (2) 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.) Denotes last calendar day of the month, but data reflect last
business day of the month.
(2.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(3.) 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
1997 1998 1999 2000
Item Dec. Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 46.85 45.18 41.78 38.51
2 Nonborrowed reserves (4) 46.52 45.07 41.46 38.30
3 Nonborrowed reserves plus
extended credit (5) 46.52 45.07 41.46 38.30
4 Required reserves 45.16 43.67 40.48 37.18
5 Monetary base (6) 479.47 513.49 593.09 583.96
Not seasonally adjusted
6 Total reserves (7) 48.01 45.31 41.89 38.60
7 Nonborrowed reserves 47.69 45.19 41.57 38.39
8 Nonborrowed reserves plus
extended credit (5) 47.69 45.19 41.57 38.39
9 Required reserves (8) 46.33 43.80 40.59 37.27
10 Monetary base (9) 484.98 518.27 600.72 590.20
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 47.92 45.21 41.65 38.54
12 Nonborrowed reserves 47.60 45.09 41.33 38.33
13 Nonborrowed reserves plus
extended credit (5) 47.60 45.09 41.33 38.33
14 Required reserves 46.24 43.70 40.36 37.22
15 Monetary base (12) 491.79 525.06 608.02 597.12
16 Excess reserves (13) 1.69 1.51 1.30 1.33
17 Borrowing from the Federal
Reserve .32 .12 .32 .21
2000 2001
Item Dec. Jan. Feb. Mar.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 38.51 38.83 38.87 38.26
2 Nonborrowed reserves (4) 38.30 38.75 38.82 38.20
3 Nonborrowed reserves plus
extended credit (5) 38.30 38.75 38.82 38.20
4 Required reserves 37.18 37.57 37.43 36.87
5 Monetary base (6) 583.96 589.39 591.12 592.42
Not seasonally adjusted
6 Total reserves (7) 38.60 39.78 39.38 37.76
7 Nonborrowed reserves 38.39 39.70 39.33 37.71
8 Nonborrowed reserves plus
extended credit (5) 38.39 39.70 39.33 37.71
9 Required reserves (8) 37.27 38.52 37.95 36.38
10 Monetary base (9) 590.20 591.50 589.04 591.36
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 38.54 39.79 39.35 37.72
12 Nonborrowed reserves 38.33 39.72 39.30 37.66
13 Nonborrowed reserves plus
extended credit (5) 38.33 39.72 39.30 37.66
14 Required reserves 37.22 38.54 37.92 36.33
15 Monetary base (12) 597.12 598.38 595.59 598.20
16 Excess reserves (13) 1.33 1.25 1.43 1.39
17 Borrowing from the Federal
Reserve .21 .07 .05 .06
2001
Item Apr. May June (r) July
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 38.79 38.89 38.77 39.60
2 Nonborrowed reserves (4) 38.74 38.68 38.55 39.32
3 Nonborrowed reserves plus
extended credit (5) 38.74 38.68 38.55 39.32
4 Required reserves 37.51 37.87 37.41 38.20
5 Monetary base (6) 595.92 599.06 601.88 607.68
Not seasonally adjusted
6 Total reserves (7) 38.66 39.46 38.33 39.41
7 Nonborrowed reserves 38.61 39.25 38.10 39.13
8 Nonborrowed reserves plus
extended credit (5) 38.61 39.25 38.10 39.13
9 Required reserves (8) 37.38 38.44 36.97 38.01
10 Monetary base (9) 594.92 598.57 601.69 608.22
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 38.59 39.38 38.23 39.30
12 Nonborrowed reserves 38.54 39.17 38.00 39.01
13 Nonborrowed reserves plus
extended credit (5) 38.54 39.17 38.00 39.01
14 Required reserves 37.31 38.36 36.87 37.89
15 Monetary base (12) 601.84 605.48 608.83 615.56
16 Excess reserves (13) 1.28 1.02 1.36 1.41
17 Borrowing from the Federal
Reserve .05 .21 .23 .28
(1.) Latest monthly and biweekly figures are available from the
Board's H.3 (502) weekly statistical release. Historical data starting
in 1959 and estimates of the effect on required reserves of changes in
reserve requirements are available from the Money and Reserves
Projections Section, Division of Monetary Affairs, Board of Governors
of the Federal Reserve System, Washington, DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements. (See also
table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves (line 4)
plus excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves equal
seasonally adjusted, break-adjusted total reserves (line 1) less
total borrowings of depository institutions from the Federal
Reserve (line 17).
(5.) Extended credit consists of borrowing at the discount window
under the terms and conditions established for the extended credit
program to help depository institutions deal with sustained liquidity
pressures. Because there is not the same need to repay such
borrowing promptly as with traditional short-term adjustment credit,
the money market effect of extended credit is similar to that of
nonborrowed reserves.
(6.) The seasonally adjusted, break-adjusted monetary base consists
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required
reserves) the seasonally adjusted, break-adjusted difference between
current vault cash and the amount applied to satisfy current reserve
requirements.
(7.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(8.) To adjust required reserves for discontinuities that are due to
regulatory changes in reserve requirements, a multiplicative procedure
is used to estimate what required reserves would have been in past
periods had current reserve requirements been in effect. Break-adjusted
required reserves include required reserves against transactions
deposits and nonpersonal time and savings deposits (but not reservable
nondeposit liabilities).
(9.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component of the
money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those
weekly reporters whose vault cash exceeds their required reserves) the
break-adjusted difference between current vault cash and the amount
applied to satisfy current reserve requirements.
(10.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the
effects of discontinuities associated with regulatory changes in
reserve requirements.
(11.) Reserve balances with Federal Reserve Banks plus vault cash
used to satisfy reserve requirements.
(12.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2) required
clearing balances and adjustments to compensate for float at Federal
Reserve Banks, plus (3) the currency component of the money stock,
plus (4) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to
satisfy current reserve requirements, Since February 1984, currency
and vault cash figures have been measured over the computation
periods ending on Mondays.
(13.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK AND DEBT MEASURES (1)
Billions of dollars, averages of daily figures
1997 1998 1999
Item Dec. Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,073.4 1,097.0 1,124.8
2 M2 4,031.9 4,385.9 4,653.3
3 M3 5,430.8 6,030.8 6,530.9 (r)
4 Debt 15,223.2 16,246.1 17,315.0 (r)
M1 components
5 Currency (3) 424.3 459.2 516.7
6 Travelers checks (4) 8.1 8.2 8.2
7 Demand deposits (5) 395.4 379.4 356.1
8 Other checkable deposits (6) 245.7 250.1 243.7
Nontransaction components
9 In M2 (7) 2,958.5 3,288.9 3,528.5
10 In M3 only (8) 1,399.0 1,645.0 1,877.7 (r)
Commercial banks
11 Savings deposits, including
MMDAs 1,021.1 1,185.8 1,287.0
12 Small time deposits (9) 625.5 626.4 635.2
13 Large time deposits (10, 11) 517.4 575.2 648.3
Thrift institutions
14 Savings deposits, including
MMDAs 376.8 414.1 449.3
15 Small time deposits (9) 342.9 325.8 320.9
16 Large time deposits (10) 85.5 88.7 91.3
Money market mutual funds
17 Retail 592.1 736.8 836.2
18 Institution-only 391.8 531.8 623.5
Repurchase agreements and
eurodollars
19 Repurchase agreements (12) 254.3 297.5 341.2 (r)
20 Eurodollars (12) 150.0 151.8 173.3
Debt components
21 Federal debt 3,800.6 3,751.2 3,660.3
22 Nonfederal debt 11,422.6 12,494.9 13,654.8 (r)
Not seasonally adjusted
Measures (2)
23 M1 1,096.9 1,120.4 1,148.3
24 M2 4,053.2 4,408.2 4,677.3
25 M3 5,456.2 6,062.9 6,568.4 (r)
26 Debt 15,218.9 16,241.4 17,310.4 (r)
M1 components
27 Currency (3) 428.1 463.3 521.5
28 Travelers checks (4) 8.3 8.4 8.4
29 Demand deposits (5) 412.4 395.9 371.7
30 Other checkable deposits (6) 248.2 252.8 246.6
Nontransaction components
31 In M2 (7) 2,956.3 3,287.8 3,529.1
32 In M3 only (8) 1,403.0 1,654.8 1,891.1 (r)
Commercial banks
33 Savings deposits, including 1,020.4 1,186.0 1,288.5
MMDAs
34 Small time deposits (9) 625.3 626.5 635.4
35 Large time deposits (10, 11) 516.8 574.5 647.7
Thrift institutions
36 Savings deposits, including 376.5 414.2 449.8
MMDAs
37 Small time deposits (9) 342.8 325.8 321.0
38 Large time deposits (10) 85.4 88.6 91.2
Money market mutual funds
39 Retail 591.3 735.2 834.3
40 Institution-only 398.9 543.7 638.4
Repurchase agreements and
eurodollars
41 Repurchase agreements (12) 249.5 293.4 337.7 (r)
42 Eurodollars (12) 152.3 154.5 176.0
Debt components
43 Federal debt 3,805.8 3,754.9 3,663.2
44 Nonfederal debt 11,413.1 12,486.5 13,647.2 (r)
2001
2000
Item Dec.
Apr.
Seasonally adjusted
Measures (2)
1 M1 1,088.2 1,118.1
2 M2 4,945.1 5,145.5
3 M3 7,111.5 (r) 7,437.9 (r)
4 Debt 18,222.6 (r) 18,502.6 (r)
M1 components
5 Currency (3) 529.9 542.6
6 Travelers checks (4) 8.0 7.8
7 Demand deposits (5) 311.3 312.9
8 Other checkable deposits (6) 239.0 254.8
Nontransaction components
9 In M2 (7) 3,856.9 4,027.4
10 In M3 only (8) 2,166.3 (r) 2,292.4 (r)
Commercial banks
11 Savings deposits, including
MMDAs 1,421.7 1,517.1 (r)
12 Small time deposits (9) 699.6 690.7
13 Large time deposits (10, 11) 726.6 697.2 (r)
Thrift institutions
14 Savings deposits, including
MMDAs 451.9 475.1
15 Small time deposits (9) 346.6 349.9
16 Large time deposits (10) 103.2 108.6
Money market mutual funds
17 Retail 937.2 994.6
18 Institution-only 768.3 919.4
Repurchase agreements and
eurodollars
19 Repurchase agreements (12) 371.2 (r) 378.2 (r)
20 Eurodollars (12) 197.1 189.0 (r)
Debt components
21 Federal debt 3,400.5 3,347.3 (r)
22 Nonfederal debt 14,822.1 (r) 15,155.3 (r)
Not seasonally adjusted
Measures (2)
23 M1 1,112.4 1,123.2
24 M2 4,973.7 5,209.5
25 M3 7,156.4 (r) 7,500.5 (r)
26 Debt 18,215.2 (r) 18,471.6 (r)
M1 components
27 Currency (3) 535.2 543.0
28 Travelers checks (4) 8.1 7.9
29 Demand deposits (5) 326.6 313.0
30 Other checkable deposits (6) 242.5 259.3
Nontransaction components
31 In M2 (7) 3,861.3 4,086.2
32 In M3 only (8) 2,182.7 (r) 2,291.0 (r)
Commercial banks
33 Savings deposits, including 1,426.4 1,542.2
MMDAs
34 Small time deposits (9) 699.8 691.2
35 Large time deposits (10, 11) 725.9 702.0
Thrift institutions
36 Savings deposits, including 453.4 482.9
MMDAs
37 Small time deposits (9) 346.8 350.2
38 Large time deposits (10) 103.1 109.4
Money market mutual funds
39 Retail 935.0 1,019.6
40 Institution-only 786.2 915.3
Repurchase agreements and
eurodollars
41 Repurchase agreements (12) 368.1 (r) 374.7 (r)
42 Eurodollars (12) 199.5 189.6 (r)
Debt components
43 Federal debt 3,403.5 3,341.0
44 Nonfederal debt 14,811.7 (r) 15,130.5 (r)
2001
Item
May June (r) July
Seasonally adjusted
Measures (2)
1 M1 1,117.5 1,123.6 1,136.0
2 M2 5,167.6 (r) 5,209.0 5,246.0
3 M3 7,524.4 (r) 7,606.6 7,649.8
4 Debt 18,568.3 (r) 18,634.3 n.a.
M1 components
5 Currency (3) 546.0 (r) 548.5 554.2
6 Travelers checks (4) 8.0 8.2 8.6
7 Demand deposits (5) 312.4 310.8 313.4
8 Other checkable deposits (6) 251.1 256.0 259.9
Nontransaction components
9 In M2 (7) 4,050.1 4,085.5 4,110.0
10 In M3 only (8) 2,356.8 (r) 2,397.5 2,403.7
Commercial banks
11 Savings deposits, including
MMDAs 1,539.9 (r) 1,564.2 1,580.2
12 Small time deposits (9) 685.6 678.9 669.7
13 Large time deposits (10, 11) 702.9 706.2 701.0
Thrift institutions
14 Savings deposits, including
MMDAs 487.8 497.7 507.3
15 Small time deposits (9) 352.0 349.9 346.5
16 Large time deposits (10) 110.4 109.4 111.2
Money market mutual funds
17 Retail 984.8 994.7 1,006.3
18 Institution-only 970.9 1,006.6 1,013.4
Repurchase agreements and
eurodollars
19 Repurchase agreements (12) 381.4 (r) 382.8 379.1
20 Eurodollars (12) 191.1 (r) 192.5 199.1
Debt components
21 Federal debt 3,303.3 (r) 3,310.6 n.a.
22 Nonfederal debt 15,265.0 (r) 15,323.7 n.a.
Not seasonally adjusted
Measures (2)
23 M1 1,111.5 1,123.0 1,135.9
24 M2 5,143.6 5,191.8 5,219.7
25 M3 7,500.2 (r) 7,576.6 7,591.7
26 Debt 18,493.9 (r) 18,551.1 n.a.
M1 components
27 Currency (3) 546.1 549.2 554.8
28 Travelers checks (4) 8.0 8.0 8.2
29 Demand deposits (5) 307.2 309.6 314.6
30 Other checkable deposits (6) 250.2 256.1 258.2
Nontransaction components
31 In M2 (7) 4,032.0 (r) 4,068.7 4,083.7
32 In M3 only (8) 2,356.7 (r) 2,384.8 2,372.0
Commercial banks
33 Savings deposits, including 1,535.5 (r) 1,566.8 1,578.8
MMDAs
34 Small time deposits (9) 683.3 675.3 667.9
35 Large time deposits (10, 11) 708.7 709.3 699.2
Thrift institutions
36 Savings deposits, including 486.4 498.6 506.8
MMDAs
37 Small time deposits (9) 350.8 348.0 345.6
38 Large time deposits (10) 111.3 109.9 110.9
Money market mutual funds
39 Retail 976.0 980.2 984.6
40 Institution-only 957.1 985.0 986.2
Repurchase agreements and
eurodollars
41 Repurchase agreements (12) 386.7 (r) 387.6 379.0
42 Eurodollars (12) 192.9 (r) 193.0 196.8
Debt components
43 Federal debt 3,262.9 3,252.0 n.a.
44 Nonfederal debt 15,231.0 (r) 15,299.0 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 20551.
(2.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions; (2) travelers checks of nonbank
issuers; (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign
banks and official institutions, less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits
(OCDs), consisting of negotiable order of withdrawal (NOW) and
automatic transfer service (ATS) accounts at depository institutions,
credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted
separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result
to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks
of nonbank issuers. Travelers checks issued by depository institutions
are included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the
U.S. government, and foreign banks and official institutions, less
cash items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small
time deposits.
(10.) Large time deposits are those issued in amounts of $100,000
or more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by
money market funds, depository institutions, the U.S. government,
and foreign banks and official institutions.
(12.) Includes both overnight and term.
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
A. All commercial banks
Billions of dollars
Monthly averages
Account 2000 2001
July (r) Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 5,063.8 5,264.3 5,274.3
2 Securities in bank credit 1,307.2 1,356.7 1,350.9
3 U.S. government securities 814.1 785.1 776.1
4 Other securities 493.1 571.6 574.8
5 Loans and leases in bank
credit (2) 3,756.6 3,907.6 3,923.4
6 Commercial and industrial 1,068.9 1,101.6 1,106.6
7 Real estate 1,610.7 1,659.4 1,670.6
8 Revolving home equity 119.0 132.2 133.9
9 Other 1,491.7 1,527.3 1,536.7
10 Consumer 520.1 546.8 546.1
11 Security (3) 153.8 169.9 168.2
12 Other loans and leases 403.0 429.9 432.0
13 Interbank loans 240.3 270.3 267.4
14 Cash assets (4) 285.4 273.4 265.5
15 Other assets (5) 389.3 411.1 413.1
16 Total assets (6) 5,917.5 6,154.4 6,155.3
Liabilities
17 Deposits 3,728.1 3,892.4 3,891.4
18 Transaction 611.0 608.2 607.7
19 Nontransaction 3,117.1 3,284.2 3,283.6
20 Large time 917.0 941.8 937.0
21 Other 2,200.1 2,342.4 2,346.6
22 Borrowings 1,216.0 1,264.6 1,259.7
23 From banks in the U.S. 387.6 397.3 396.3
24 From others 828.4 867.3 863.4
25 Net due to related foreign
offices 237.1 221.2 219.4
26 Other liabilities 300.2 365.1 343.4
27 Total liabilities 5,481.4 5,743.4 5,713.9
28 Residual (assets less
liabilities) (7) 436.2 411.0 441.4
Not seasonally adjusted
Assets
29 Bank credit 5,044.0 5,279.1 5,269.3
30 Securities in bank credit 1,297.8 1,361.9 1,352.7
31 U.S. government securities 808.9 787.3 777.9
32 Other securities 488.9 574.6 574.8
33 Loans and leases in bank
credit (2) 3,746.1 3,917.3 3,916.6
34 Commercial and industrial 1,067.8 1,098.9 1,105.9
35 Real estate 1,609.9 1,658.5 1,664.0
36 Revolving home equity 119.4 131.4 132.8
37 Other 1,490.5 1,527.1 1,531.3
38 Consumer 517.5 551.2 546.7
39 Credit cards and related
plans 197.3 218.2 213.3
40 Other 320.2 332.9 333.5
41 Security (3) 147.1 177.7 171.0
42 Other loans and leases 403.8 431.0 428.9
43 Interbank loans 235.2 272.4 269.2
44 Cash assets (4) 276.3 289.4 266.6
45 Other assets (5) 387.7 413.0 412.2
46 Total assets (6) 5,882.0 6,189.5 6,152.3
Liabilities
47 Deposits 3,700.6 3,907.2 3,908.3
48 Transaction 605.0 620.0 599.6
49 Nontransaction 3,095.7 3,287.3 3,308.7
50 Large time 904.8 954.8 948.7
51 Other 2,190.9 2,332.4 2,360.1
52 Borrowings 1,206.2 1,281.9 1,263.3
53 From banks in the U.S. 384.5 403.5 400.7
54 From others 821.8 878.3 862.6
55 Net due to related foreign
offices 231.0 225.4 225.5
56 Other liabilities 296.5 367.6 347.4
57 Total liabilities 5,434.3 5,782.0 5,744.5
58 Residual (assets less
liabilities) (7) 447.7 407.5 407.8
Monthly averages
Account 2001
Mar. (r) Apr. (r) May (r)
Seasonally adjusted
Assets
1 Bank credit 5,285.3 5,317.1 5,323.6
2 Securities in bank credit 1,345.7 1,364.2 1,370.9
3 U.S. government securities 757.1 763.3 765.8
4 Other securities 588.6 600.8 605.1
5 Loans and leases in bank
credit (2) 3,939.6 3,952.9 3,952.7
6 Commercial and industrial 1,104.5 1,099.8 1,096.7
7 Real estate 1,678.9 1,688.4 1,698.7
8 Revolving home equity 135.8 137.2 138.5
9 Other 1,543.0 1,551.1 1,560.2
10 Consumer 544.5 549.4 553.1
11 Security (3) 174.1 179.4 167.8
12 Other loans and leases 437.7 435.9 436.4
13 Interbank loans 276.1 290.3 284.3
14 Cash assets (4) 270.2 287.8 280.6
15 Other assets (5) 428.1 418.7 413.2
16 Total assets (6) 6,194.8 6,248.3 6,236.2
Liabilities
17 Deposits 3,925.5 3,991.3 4,005.1
18 Transaction 606.8 608.8 612.4
19 Nontransaction 3,318.7 3,382.5 3,392.7
20 Large time 934.8 950.8 965.5
21 Other 2,383.8 2,431.7 2,427.2
22 Borrowings 1,244.1 1,283.6 1,252.2
23 From banks in the U.S. 395.7 406.8 386.6
24 From others 848.4 876.9 865.7
25 Net due to related foreign
offices 233.3 190.0 207.4
26 Other liabilities 352.1 349.6 338.8
27 Total liabilities 5,754.8 5,814.5 5,803.5
28 Residual (assets less
liabilities) (7) 439.9 433.8 432.7
Not seasonally adjusted
Assets
29 Bank credit 5,272.5 5,309.4 5,312.8
30 Securities in bank credit 1,349.8 1,365.8 1,370.1
31 U.S. government securities 763.0 768.2 766.7
32 Other securities 586.8 597.6 603.4
33 Loans and leases in bank
credit (2) 3,922.7 3,943.7 3,942.7
34 Commercial and industrial 1,106.0 1,104.5 1,099.0
35 Real estate 1,671.4 1,684.0 1,699.1
36 Revolving home equity 134.2 136.2 138.6
37 Other 1,537.2 1,547.8 1,560.5
38 Consumer 540.7 546.3 550.9
39 Credit cards and related
plans 209.1 214.5 219.2
40 Other 331.6 331.8 331.7
41 Security (3) 170.1 175.1 161.8
42 Other loans and leases 434.4 433.9 432.0
43 Interbank loans 283.5 296.3 277.6
44 Cash assets (4) 260.2 283.0 278.3
45 Other assets (5) 427.3 418.6 413.5
46 Total assets (6) 6,178.6 6,242.0 6,216.7
Liabilities
47 Deposits 3,935.8 4,010.5 3,993.1
48 Transaction 600.8 615.0 602.7
49 Nontransaction 3,335.0 3,395.5 3,390.4
50 Large time 938.0 952.1 964.2
51 Other 2,397.0 2,443.4 2,426.2
52 Borrowings 1,242.4 1,284.4 1,257.3
53 From banks in the U.S. 399.3 410.0 389.7
54 From others 843.2 874.3 867.6
55 Net due to related foreign
offices 232.2 183.0 206.5
56 Other liabilities 350.8 344.7 339.5
57 Total liabilities 5,761.3 5,822.6 5,796.4
58 Residual (assets less
liabilities) (7) 417.3 419.5 420.3
Wednesday
Monthly averages figures
Account 2001 2001
June (r) July July 4
Seasonally adjusted
Assets
1 Bank credit 5,317.7 5,314.2 5,292.7
2 Securities in bank credit 1,380.0 1,386.0 1,373.7
3 U.S. government securities 764.1 771.5 763.1
4 Other securities 615.9 614.5 610.5
5 Loans and leases in bank
credit (2) 3,937.7 3,928.1 3,919.0
6 Commercial and industrial 1,079.8 1,069.4 1,066.1
7 Real estate 1,701.1 1,706.8 1,702.1
8 Revolving home equity 139.7 141.3 140.5
9 Other 1,561.4 1,565.6 1,561.6
10 Consumer 550.9 548.5 547.1
11 Security (3) 171.5 169.5 171.1
12 Other loans and leases 434.4 433.9 432.7
13 Interbank loans 270.0 273.3 258.6
14 Cash assets (4) 272.7 285.4 281.8
15 Other assets (5) 406.8 415.9 414.0
16 Total assets (6) 6,201.9 6,223.1 6,181.8
Liabilities
17 Deposits 4,038.1 4,061.2 4,090.7
18 Transaction 600.2 605.1 592.5
19 Nontransaction 3,437.8 3,456.1 3,498.2
20 Large time 978.4 972.1 993.3
21 Other 2,459.4 2,483.9 2,505.0
22 Borrowings 1,218.9 1,229.6 1,207.8
23 From banks in the U.S. 385.3 393.2 387.2
24 From others 833.6 836.4 820.6
25 Net due to related foreign
offices 184.4 190.8 159.5
26 Other liabilities 349.5 328.2 328.0
27 Total liabilities 5,790.8 5,809.8 5,786.0
28 Residual (assets less
liabilities) (7) 411.1 413.3 395.9
Not seasonally adjusted
Assets
29 Bank credit 5,310.5 5,293.5 5,296.5
30 Securities in bank credit 1,379.3 1,376.9 1,370.0
31 U.S. government securities 764.4 767.4 762.4
32 Other securities 614.9 609.5 607.6
33 Loans and leases in bank
credit (2) 3,931.2 3,916.6 3,926.6
34 Commercial and industrial 1,082.1 1,068.6 1,074.5
35 Real estate 1,700.5 1,705.9 1,702.7
36 Revolving home equity 139.9 141.7 140.8
37 Other 1,560.6 1,564.2 1,561.8
38 Consumer 548.2 546.0 545.4
39 Credit cards and related
plans 217.0 215.9 215.2
40 Other 331.2 330.0 330.2
41 Security (3) 167.0 161.8 164.2
42 Other loans and leases 433.5 434.3 439.9
43 Interbank loans 267.7 265.5 268.8
44 Cash assets (4) 269.0 276.4 300.3
45 Other assets (5) 407.6 414.4 419.9
46 Total assets (6) 6,189.3 6,184.3 6,220.1
Liabilities
47 Deposits 4,019.1 4,029.6 4,107.1
48 Transaction 599.8 598.8 625.7
49 Nontransaction 3,419.3 3,430.8 3,481.4
50 Large time 968.9 958.3 973.9
51 Other 2,450.4 2,472.5 2,507.5
52 Borrowings 1,219.7 1,220.2 1,208.1
53 From banks in the U.S. 386.1 389.9 388.4
54 From others 833.6 830.3 819.7
55 Net due to related foreign
offices 180.6 184.4 155.3
56 Other liabilities 347.4 323.8 324.9
57 Total liabilities 5,766.8 5,758.0 5,795.4
58 Residual (assets less
liabilities) (7) 422.4 426.3 424.7
Wednesday figures
Account 2001
July 11 July 18 July 25
Seasonally adjusted
Assets
1 Bank credit 5,296.8 5,299.8 5,321.2
2 Securities in bank credit 1,367.2 1,374.5 1,388.0
3 U.S. government securities 764.6 762.3 775.1
4 Other securities 602.6 612.2 612.9
5 Loans and leases in bank
credit (2) 3,929.6 3,925.4 3,933.2
6 Commercial and industrial 1,068.5 1,071.0 1,072.0
7 Real estate 1,712.1 1,709.7 1,703.4
8 Revolving home equity 140.7 141.2 141.5
9 Other 1,571.4 1,568.5 1,561.9
10 Consumer 548.1 549.3 552.0
11 Security (3) 168.4 164.6 171.3
12 Other loans and leases 432.5 430.7 434.5
13 Interbank loans 265.0 273.9 286.8
14 Cash assets (4) 276.0 274.3 305.0
15 Other assets (5) 415.2 415.8 413.0
16 Total assets (6) 6,187.5 6,198.3 6,260.1
Liabilities
17 Deposits 4,046.2 4,030.2 4,060.3
18 Transaction 582.3 601.9 642.4
19 Nontransaction 3,463.9 3,428.2 3,417.9
20 Large time 977.8 963.6 965.7
21 Other 2,486.1 2,464.6 2,452.2
22 Borrowings 1,219.3 1,221.3 1,249.4
23 From banks in the U.S. 392.4 392.5 398.1
24 From others 826.9 828.8 851.3
25 Net due to related foreign
offices 196.1 203.6 196.0
26 Other liabilities 319.0 332.2 324.8
27 Total liabilities 5,780.5 5,787.2 5,830.5
28 Residual (assets less
liabilities) (7) 406.9 411.0 429.6
Not seasonally adjusted
Assets
29 Bank credit 5,275.4 5,279.8 5,284.2
30 Securities in bank credit 1,359.8 1,364.1 1,375.2
31 U.S. government securities 762.0 757.5 768.6
32 Other securities 597.7 606.7 606.7
33 Loans and leases in bank
credit (2) 3,915.6 3,915.7 3,909.0
34 Commercial and industrial 1,068.6 1,070.7 1,066.5
35 Real estate 1,711.4 1,708.7 1,700.9
36 Revolving home equity 141.1 141.7 142.0
37 Other 1,570.3 1,567.1 1,559.0
38 Consumer 544.2 546.6 549.6
39 Credit cards and related
plans 213.6 215.8 219.9
40 Other 330.6 330.8 329.7
41 Security (3) 158.2 158.6 161.7
42 Other loans and leases 433.3 431.0 430.3
43 Interbank loans 260.9 265.5 265.1
44 Cash assets (4) 265.6 265.7 277.4
45 Other assets (5) 415.0 414.2 406.4
46 Total assets (6) 6,151.5 6,159.8 6,167.5
Liabilities
47 Deposits 4,021.7 3,998.2 3,990.7
48 Transaction 575.7 593.2 610.4
49 Nontransaction 3,446.0 3,404.6 3,380.4
50 Large time 962.8 950.4 953.5
51 Other 2,483.2 2,454.2 2,426.9
52 Borrowings 1,211.7 1,215.1 1,233.8
53 From banks in the U.S. 390.5 389.8 391.5
54 From others 821.1 825.3 842.3
55 Net due to related foreign
offices 187.0 196.0 187.5
56 Other liabilities 312.4 326.8 320.2
57 Total liabilities 5,732.8 5,736.1 5,732.3
58 Residual (assets less
liabilities) (7) 418.7 423.6 435.2
B. Domestically chartered commercial banks
Billion of dollars
Monthly averages
Account 2000 2001
July (r) Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 4,487.6 4,649.5 4,665.9
2 Securities in bank credit 1,103.6 1,147.1 1,150.8
3 U.S. government securities 736.1 718.5 711.7
4 Other securities 367.5 428.6 439.1
5 Loans and leases in bank
credit (2) 3,384.0 3,502.4 3,515.1
6 Commercial and industrial 865.3 887.1 889.8
7 Real estate 1,592.7 1,641.0 1,651.9
8 Revolving home equity 119.0 132.2 133.9
9 Other 1,473.6 1,508.8 1,518.0
10 Consumer 520.1 546.8 546.1
11 Security (3) 70.2 64.8 62.9
12 Other loans and leases 335.7 362.7 364.4
13 Interbank loans 216.8 241.1 239.0
14 Cash assets (4) 240.9 231.9 223.9
15 Other assets (5) 347.3 375.2 377.9
16 Total assets (6) 5,231.7 5,433.4 5,442.0
Liabilities
17 Deposits 3,338.0 3,505.8 3,510.8
18 Transaction 599.9 598.1 597.4
19 Nontransaction 2,738.1 2,907.7 2,913.4
20 Large time 540.3 567.5 568.9
21 Other 2,197.8 2,340.2 2,344.5
22 Borrowings 1,012.6 1,021.1 1,021.2
23 From banks in the U.S. 366.5 372.2 373.8
24 From others 646.0 649.0 647.4
25 Net due to related foreign
offices 216.8 217.7 214.6
26 Other liabilities 225.6 285.3 266.3
27 Total liabilities 4,793.0 5,029.9 5,012.9
28 Residual (assets less
liabilities) (7) 438.7 403.5 429.0
Not seasonally adjusted
Assets
29 Bank credit 4,472.1 4,656.3 4,657.6
30 Securities in bank credit 1,094.2 1,152.3 1,152.6
31 U.S. government securities 730.9 720.7 713.4
32 Other securities 363.4 431.6 439.2
33 Loans and leases in bank
credit (2) 3,377.8 3,504.0 3,505.1
34 Commercial and industrial 864.8 882.7 886.9
35 Real estate 1,591.8 1,640.0 1,645.4
36 Revolving home equity 119.4 131.4 132.8
37 Other 1,472.5 1,508.6 1,512.6
38 Consumer 517.5 551.2 546.7
39 Credit cards and related
plans 197.3 218.2 213.3
40 Other 320.2 332.9 333.5
41 Security (3) 66.2 67.4 64.7
42 Other loans and leases 337.4 362.8 361.3
43 Interbank loans 211.7 243.1 240.8
44 Cash assets (4) 233.3 245.3 224.8
45 Other assets (5) 346.7 375.8 376.1
46 Total assets (6) 5,202.9 5,456.6 5,434.7
Liabilities
47 Deposits 3,319.2 3,510.7 3,519.6
48 Transaction 593.7 609.6 589.5
49 Nontransaction 2,725.5 2,901.1 2,930.1
50 Large time 536.8 570.9 572.2
51 Other 2,188.6 2,330.2 2,357.9
52 Borrowings 1,002.8 1,038.4 1,024.9
53 From banks in the U.S. 363.4 378.4 378.2
54 From others 639.4 660.0 646.7
55 Net due to related foreign
offices 213.7 218.6 217.4
56 Other liabilities 223.2 286.3 268.8
57 Total liabilities 4,758.9 5,054.0 5,030.7
58 Residual (assets less
liabilities) (7) 444.0 402.6 404.0
Monthly averages
Account 2001
Mar. (r) Apr. (r) May (r)
Seasonally adjusted
Assets
1 Bank credit 4,662.6 4,690.9 4,713.3
2 Securities in bank credit 1,138.4 1,143.1 1,155.8
3 U.S. government securities 689.0 689.1 696.8
4 Other securities 449.3 454.0 458.9
5 Loans and leases in bank
credit (2) 3,524.3 3,547.8 3,557.5
6 Commercial and industrial 884.7 881.3 880.1
7 Real estate 1,660.4 1,670.6 1,680.9
8 Revolving home equity 135.8 137.2 138.5
9 Other 1,524.6 1,533.4 1,542.4
10 Consumer 544.5 549.4 553.1
11 Security (3) 67.0 78.7 75.1
12 Other loans and leases 367.7 367.7 368.4
13 Interbank loans 245.6 262.2 253.8
14 Cash assets (4) 229.6 249.3 243.8
15 Other assets (5) 391.7 379.0 375.9
16 Total assets (6) 5,465.1 5,516.2 5,521.6
Liabilities
17 Deposits 3,547.2 3,597.2 3,596.4
18 Transaction 597.3 598.0 601.6
19 Nontransaction 2,949.9 2,999.2 2,994.8
20 Large time 568.2 569.8 569.9
21 Other 2,381.6 2,429.3 2,424.8
22 Borrowings 1,010.7 1,043.1 1,032.8
23 From banks in the U.S. 371.2 380.9 365.1
24 From others 639.5 662.1 667.7
25 Net due to related foreign
offices 211.4 185.5 211.8
26 Other liabilities 269.3 261.0 253.4
27 Total liabilities 5,038.6 5,086.7 5,094.4
28 Residual (assets less
liabilities) (7) 426.5 429.5 427.2
Not seasonally adjusted
Assets
29 Bank credit 4,654.7 4,686.2 4,707.2
30 Securities in bank credit 1,142.5 1,144.7 1,155.0
31 U.S. government securities 694.9 694.0 697.7
32 Other securities 447.5 450.7 457.3
33 Loans and leases in bank
credit (2) 3,512.3 3,541.5 3,552.2
34 Commercial and industrial 885.1 887.7 885.4
35 Real estate 1,653.0 1,666.3 1,681.3
36 Revolving home equity 134.2 136.2 138.6
37 Other 1,518.8 1,530.0 1,542.7
38 Consumer 540.7 546.3 550.9
39 Credit cards and related
plans 209.1 214.5 219.2
40 Other 331.6 331.8 331.7
41 Security (3) 68.9 75.7 69.9
42 Other loans and leases 364.5 365.4 364.7
43 Interbank loans 252.9 268.3 247.1
44 Cash assets (4) 221.1 246.0 242.5
45 Other assets (5) 390.4 379.7 376.7
46 Total assets (6) 5,454.6 5,515.2 5,508.3
Liabilities
47 Deposits 3,553.1 3,613.6 3,583.2
48 Transaction 591.6 604.8 592.2
49 Nontransaction 2,961.5 3,008.8 2,990.9
50 Large time 566.7 567.7 567.1
51 Other 2,394.8 2,441.1 2,423.9
52 Borrowings 1,009.0 1,043.8 1,037.9
53 From banks in the U.S. 374.8 384.2 368.3
54 From others 634.2 659.6 669.6
55 Net due to related foreign
offices 210.3 183.1 214.1
56 Other liabilities 268.0 258.2 255.6
57 Total liabilities 5,040.4 5,098.6 5,090.8
58 Residual (assets less
liabilities) (7) 414.2 416.6 417.5
Wednesday
Monthly averages figures
Account 2001 2001
June (r) July July 4
Seasonally adjusted
Assets
1 Bank credit 4,716.3 4,721.7 4,699.7
2 Securities in bank credit 1,162.8 1,167.3 1,152.8
3 U.S. government securities 697.0 704.7 693.7
4 Other securities 465.9 462.6 459.1
5 Loans and leases in bank
credit (2) 3,553.4 3,554.4 3,546.9
6 Commercial and industrial 871.0 865.4 863.0
7 Real estate 1,683.5 1,689.0 1,684.5
8 Revolving home equity 139.7 141.3 140.5
9 Other 1,543.8 1,547.8 1,543.9
10 Consumer 550.9 548.5 547.1
11 Security (3) 80.7 83.3 85.3
12 Other loans and leases 367.4 368.2 367.0
13 Interbank loans 246.5 251.0 236.6
14 Cash assets (4) 237.5 249.9 247.9
15 Other assets (5) 369.5 384.0 381.2
16 Total assets (6) 5,504.7 5,541.2 5,500.5
Liabilities
17 Deposits 3,618.9 3,648.1 3,662.1
18 Transaction 590.3 595.4 581.9
19 Nontransaction 3,028.5 3,052.7 3,080.2
20 Large time 571.5 571.2 577.6
21 Other 2,457.1 2,481.6 2,502.6
22 Borrowings 1,002.5 1,017.5 986.8
23 From banks in the U.S. 361.0 369.1 357.4
24 From others 641.4 648.4 629.4
25 Net due to related foreign
offices 204.1 207.1 198.3
26 Other liabilities 265.9 249.5 249.4
27 Total liabilities 5,091.3 5,122.3 5,096.5
28 Residual (assets less
liabilities) (7) 413.4 418.9 404.0
Not seasonally adjusted
Assets
29 Bank credit 4,712.8 4,705.5 4,706.0
30 Securities in bank credit 1,162.1 1,158.2 1,149.1
31 U.S. government securities 697.3 700.6 693.0
32 Other securities 464.8 457.6 456.1
33 Loans and leases in bank
credit (2) 3,550.6 3,547.3 3,557.0
34 Commercial and industrial 874.4 865.3 871.2
35 Real estate 1,682.9 1,688.1 1,685.0
36 Revolving home equity 139.9 141.7 140.8
37 Other 1,543.0 1,546.4 1,544.2
38 Consumer 548.2 546.0 545.4
39 Credit cards and related
plans 217.0 215.9 215.2
40 Other 331.2 330.0 330.2
41 Security (3) 78.1 78.4 81.1
42 Other loans and leases 367.1 369.5 374.3
43 Interbank loans 244.1 243.2 246.7
44 Cash assets (4) 234.8 242.1 267.3
45 Other assets (5) 371.7 383.3 388.4
46 Total assets (6) 5,498.2 5,509.0 5,543.5
Liabilities
47 Deposits 3,607.1 3,626.7 3,692.5
48 Transaction 590.1 589.0 614.6
49 Nontransaction 3,017.0 3,037.7 3,077.9
50 Large time 568.8 567.5 572.7
51 Other 2,448.1 2,470.2 2,505.2
52 Borrowings 1,003.3 1,008.1 987.1
53 From banks in the U.S. 361.8 365.8 358.6
54 From others 641.4 642.3 628.5
55 Net due to related foreign
offices 203.4 204.0 195.1
56 Other liabilities 265.4 246.6 246.7
57 Total liabilities 5,079.2 5,085.4 5,121.3
58 Residual (assets less
liabilities) (7) 419.1 423.5 422.2
Wednesday figures
Account 2001
July 11 July 18 July 25
Seasonally adjusted
Assets
1 Bank credit 4,708.3 4,712.5 4,728.7
2 Securities in bank credit 1,150.1 1,156.7 1,170.5
3 U.S. government securities 698.4 695.7 708.7
4 Other securities 451.6 461.0 461.8
5 Loans and leases in bank
credit (2) 3,558.2 3,555.7 3,558.3
6 Commercial and industrial 866.0 866.4 867.1
7 Real estate 1,694.5 1,692.1 1,685.5
8 Revolving home equity 140.7 141.2 141.5
9 Other 1,553.8 1,550.8 1,544.0
10 Consumer 548.1 549.3 552.0
11 Security (3) 82.4 81.9 85.7
12 Other loans and leases 367.3 366.0 367.9
13 Interbank loans 241.3 249.6 264.8
14 Cash assets (4) 240.3 238.3 268.3
15 Other assets (5) 383.0 382.6 381.3
16 Total assets (6) 5,507.7 5,517.7 5,577.6
Liabilities
17 Deposits 3,627.5 3,622.6 3,651.1
18 Transaction 572.3 592.5 633.4
19 Nontransaction 3,055.3 3,030.1 3,017.7
20 Large time 571.6 567.8 567.8
21 Other 2,483.7 2,462.3 2,449.9
22 Borrowings 1,016.6 1,016.6 1,036.3
23 From banks in the U.S. 371.5 371.8 373.0
24 From others 645.1 644.8 663.2
25 Net due to related foreign
offices 208.7 209.0 209.2
26 Other liabilities 241.7 251.1 244.7
27 Total liabilities 5,094.6 5,099.3 5,141.3
28 Residual (assets less
liabilities) (7) 413.1 418.4 436.3
Not seasonally adjusted
Assets
29 Bank credit 4,692.8 4,694.6 4,698.3
30 Securities in bank credit 1,142.6 1,146.4 1,157.8
31 U.S. government securities 695.9 690.8 702.2
32 Other securities 446.7 455.5 455.6
33 Loans and leases in bank
credit (2) 3,550.2 3,548.3 3,540.5
34 Commercial and industrial 867.0 866.4 862.8
35 Real estate 1,693.8 1,691.0 1,683.0
36 Revolving home equity 141.1 141.7 142.0
37 Other 1,552.7 1,549.4 1,541.1
38 Consumer 544.2 546.6 549.6
39 Credit cards and related
plans 213.6 215.8 219.9
40 Other 330.6 330.8 329.7
41 Security (3) 76.6 77.2 79.5
42 Other loans and leases 368.7 367.1 365.5
43 Interbank loans 237.2 241.3 243.0
44 Cash assets (4) 231.3 231.1 242.1
45 Other assets (5) 383.6 381.8 375.8
46 Total assets (6) 5,479.9 5,483.7 5,493.9
Liabilities
47 Deposits 3,615.1 3,600.1 3,589.7
48 Transaction 565.7 584.0 601.5
49 Nontransaction 3,049.5 3,016.1 2,988.3
50 Large time 568.6 564.2 563.7
51 Other 2,480.8 2,451.9 2,424.6
52 Borrowings 1,008.9 1,010.5 1,020.7
53 From banks in the U.S. 369.6 369.1 366.4
54 From others 639.3 641.3 654.3
55 Net due to related foreign
offices 203.1 204.9 207.9
56 Other liabilities 236.7 247.3 243.3
57 Total liabilities 5,063.8 5,062.7 5,061.6
58 Residual (assets less
liabilities) (7) 416.0 421.0 432.3
C. Large domestically chartered commercial banks
Billion of dollars
Monthly averages
Account 2000 2001
July Jan.
Seasonally adjusted
Assets
1 Bank credit 2,539.0 (r) 2,585.8 (r)
2 Securities in bank credit 586.7 597.0 (r)
3 U.S. government securities 370.6 358.1 (r)
4 Trading account 22.9 34.2
5 Investment account 347.6 323.9 (r)
6 Other securities 216.1 238.9
7 Trading account 99.1 126.0
8 Investment account 117.0 112.9
9 State and local
government 26.1 27.1
10 Other 90.9 85.8
11 Loans and leases in bank
credit (2) 1,952.3 (r) 1,988.8
12 Commercial and industrial 589.2 594.9
13 Bankers acceptances 1.0 .8
14 Other 588.2 594.1
15 Real estate 821.7 825.1
16 Revolving home equity 78.3 86.3
17 Other 743.4 738.9
18 Consumer 231.8 244.2
19 Security (3) 63.7 (r) 57.8
20 Federal funds sold to and
repurchase agreements
with broker-dealers 43.6 (r) 41.7
21 Other 20.2 16.1
22 State and local government 12.4 12.8
23 Agricultural 9.5 10.1
24 Federal funds sold to and
repurchase agreements
with others 13.0 25.9
25 All other loans 84.4 86.7
26 Lease-financing receivables 126.5 131.2
27 Interbank loans 144.6 155.2
28 Federal funds sold to and
repurchase agreements
with commercial banks 75.8 80.3
29 Other 68.8 74.9
30 Cash assets (4) 146.2 147.0
31 Other assets (5) 244.9 (r) 261.6 (r)
32 Total assets (6) 3,039.2 3,112.1 (r)
Liabilities
33 Deposits 1,666.2 1,694.9
34 Transaction 307.3 302.5
35 Nontransaction 1,358.9 1,392.4
36 Large time 268.5 271.4
37 Other 1,090.4 1,121.1
38 Borrowings 677.8 (r) 680.6 (r)
39 From banks in the U.S. 204.6 (r) 215.1 (r)
40 From others 473.2 (r) 465.5 (r)
41 Net due to related foreign
offices 216.8 200.9
42 Other liabilities 181.1 (r) 232.4 (r)
43 Total liabilities 2,741.9 (r) 2,808.8 (r)
44 Residual (assets less
liabilities) (7) 297.3 (r) 303.3 (r)
Not seasonally adjusted
Assets
45 Bank credit 2,523.5 (r) 2,596.9 (r)
46 Securities in bank credit 577.6 602.7 (r)
47 U.S. government securities 365.7 360.9 (r)
48 Trading account 22.6 34.5 (r)
49 Investment account 343.1 326.4 (r)
Mortgage-backed
50 securities 217.9 225.7 (r)
51 Other 125.2 100.6 (r)
52 One year or less 31.7 29.6 (r)
53 One to five years 55.7 38.7
54 More than five years 37.8 32.3
55 Other securities 212.0 241.9
56 Trading account 97.2 127.6
57 Investment account 114.7 114.3
State and local
58 government 25.6 27.5
59 Other 89.2 86.8
60 Loans and leases in bank
credit (2) 1,945.8 (r) 1,994.2
61 Commercial and industrial 589.0 591.4
62 Bankers acceptances 1.0 .8
63 Other 588.0 590.6
64 Real estate 820.5 825.8
65 Revolving home equity 78.9 85.4
66 Other 453.2 446.2
67 Commercial 288.4 294.1
68 Consumer 230.1 247.8
Credit cards and related
69 plans 73.3 83.5
70 Other 156.9 164.3
71 Security (3) 59.9 (r) 60.4
72 Federal funds sold to and
repurchase agreements
with broker-dealers 40.9 (r) 43.6
73 Other 19.0 16.8
74 State and local government 12.4 12.8
75 Agricultural 9.7 10.1
76 Federal funds sold to and
repurchase agreements
with others 13.0 25.9
77 All other loans 85.3 86.7
78 Lease-financing receivables 126.0 133.3
79 Interbank loans 144.5 156.7
80 Federal funds sold to and
repurchase agreements
with commercial banks 75.8 81.0
81 Other 68.7 75.7
82 Cash assets (4) 140.0 157.8
83 Other assets (5) 244.3 (r) 262.2 (r)
84 Total assets (6) 3,016.9 (r) 3,136.5 (r)
Liabilities
85 Deposits 1,658.3 1,701.1
86 Transaction 302.9 311.4
87 Nontransaction 1,355.4 1,389.7
88 Large time 265.1 274.7
89 Other 1,090.3 1,115.0
90 Borrowings 668.1 (r) 697.9 (r)
91 From banks in the U.S. 201.5 (r) 221.4 (r)
92 From nonbanks in the U.S. 466.6 (r) 476.5 (r)
93 Net due to related foreign
offices 213.7 201.8
94 Other liabilities 178.6 (r) 233.4 (r)
95 Total liabilities 2,718.7 (r) 2,834.2 (r)
96 Residual (assets less
liabilities) (7) 298.2 (r) 302.3 (r)
Monthly averages
Account 2001
Feb. Mar.
Seasonally adjusted
Assets
1 Bank credit 2,595.0 (r) 2,600.8 (r)
2 Securities in bank credit 599.9 (r) 595.8 (r)
3 U.S. government securities 354.0 (r) 343.4 (r)
4 Trading account 37.5 35.4
5 Investment account 316.6 (r) 308.0 (r)
6 Other securities 245.9 252.3
7 Trading account 129.3 132.5
8 Investment account 116.6 119.9
9 State and local
government 27.6 28.1
10 Other 89.0 91.8
11 Loans and leases in bank
credit (2) 1,995.1 2,005.0
12 Commercial and industrial 595.2 589.4
13 Bankers acceptances .8 .8
14 Other 594.5 588.5
15 Real estate 831.4 839.7
16 Revolving home equity 87.6 89.5
17 Other 743.8 750.1
18 Consumer 246.3 247.7
19 Security (3) 55.4 59.0
20 Federal funds sold to and
repurchase agreements
with broker-dealers 39.5 43.7
21 Other 16.0 15.3
22 State and local government 12.9 13.0
23 Agricultural 10.3 10.4
24 Federal funds sold to and
repurchase agreements
with others 26.3 26.1
25 All other loans 85.8 86.8
26 Lease-financing receivables 131.6 133.0
27 Interbank loans 142.4 138.7
28 Federal funds sold to and
repurchase agreements
with commercial banks 71.6 71.6
29 Other 70.7 67.0
30 Cash assets (4) 138.2 142.6
31 Other assets (5) 264.0 (r) 273.9 (r)
32 Total assets (6) 3,101.6 (r) 3,118.1 (r)
Liabilities
33 Deposits 1,688.3 1,714.9
34 Transaction 300.2 303.5
35 Nontransaction 1,388.1 1,411.4
36 Large time 266.8 269.1
37 Other 1,121.3 1,142.3
38 Borrowings 683.2 (r) 680.6 (r)
39 From banks in the U.S. 216.8 (r) 220.8 (r)
40 From others 466.4 (r) 459.7 (r)
41 Net due to related foreign
offices 197.9 (r) 196.1
42 Other liabilities 212.8 (r) 213.5 (r)
43 Total liabilities 2,782.3 (r) 2,805.0 (r)
44 Residual (assets less
liabilities) (7) 319.4 (r) 313.1 (r)
Not seasonally adjusted
Assets
45 Bank credit 2,597.8 (r) 2,597.2 (r)
46 Securities in bank credit 603.7 (r) 597.6 (r)
47 U.S. government securities 357.7 (r) 347.1 (r)
48 Trading account 37.9 35.8
49 Investment account 319.9 (r) 311.2 (r)
Mortgage-backed
50 securities 221.6 (r) 219.9 (r)
51 Other 98.3 (r) 91.3 (r)
52 One year or less 31.8 (r) 31.6 (r)
53 One to five years 37.3 34.3
54 More than five years 29.2 25.4
55 Other securities 246.0 250.5
56 Trading account 129.3 131.5
57 Investment account 116.6 119.0
State and local
58 government 27.6 27.9
59 Other 89.0 91.1
60 Loans and leases in bank
credit (2) 1,994.1 1,999.6
61 Commercial and industrial 594.1 590.1
62 Bankers acceptances .8 .8
63 Other 593.3 589.3
64 Real estate 828.1 833.9
65 Revolving home equity 86.6 88.1
66 Other 445.7 449.8
67 Commercial 295.8 296.0
68 Consumer 248.4 247.4
Credit cards and related
69 plans 83.2 82.7
70 Other 165.3 164.7
71 Security (3) 57.2 60.7
72 Federal funds sold to and
repurchase agreements
with broker-dealers 40.8 45.0
73 Other 16.5 15.7
74 State and local government 12.9 13.0
75 Agricultural 10.1 10.2
76 Federal funds sold to and
repurchase agreements
with others 26.3 26.1
77 All other loans 84.0 84.8
78 Lease-financing receivables 132.9 133.4
79 Interbank loans 141.2 139.8
80 Federal funds sold to and
repurchase agreements
with commercial banks 71.1 72.2
81 Other 70.2 67.6
82 Cash assets (4) 140.1 137.7
83 Other assets (5) 262.2 (r) 272.5 (r)
84 Total assets (6) 3,103.5 (r) 3,109.4 (r)
Liabilities
85 Deposits 1,696.1 1,713.4
86 Transaction 297.2 299.8
87 Nontransaction 1,398.9 1,413.5
88 Large time 270.1 267.5
89 Other 1,128.9 1,146.0
90 Borrowings 686.8 (r) 678.9 (r)
91 From banks in the U.S. 221.2 (r) 224.5 (r)
92 From nonbanks in the U.S. 465.6 (r) 454.5 (r)
93 Net due to related foreign
offices 200.8 194.9
94 Other liabilities 215.3 (r) 212.2 (r)
95 Total liabilities 2,799.0 (r) 2,799.4 (r)
96 Residual (assets less
liabilities) (7) 304.4 (r) 310.1 (r)
Monthly averages
Account 2001
Apr. May
Seasonally adjusted
Assets
1 Bank credit 2,623.5 2,636.3
2 Securities in bank credit 603.3 613.4
3 U.S. government securities 347.5 355.6
4 Trading account 33.7 35.3
5 Investment account 313.8 320.3
6 Other securities 255.8 257.8
7 Trading account 135.9 137.0
8 Investment account 119.9 120.8
9 State and local
government 28.4 28.1
10 Other 91.5 92.7
11 Loans and leases in bank
credit (2) 2,020.2 2,022.9
12 Commercial and industrial 586.2 585.1
13 Bankers acceptances .8 .8
14 Other 585.3 584.3
15 Real estate 846.5 852.3
16 Revolving home equity 90.5 91.2
17 Other 755.9 761.1
18 Consumer 249.4 251.8
19 Security (3) 70.3 66.6
20 Federal funds sold to and
repurchase agreements
with broker-dealers 53.8 49.4
21 Other 16.5 17.3
22 State and local government 13.0 13.0
23 Agricultural 10.4 10.7
24 Federal funds sold to and
repurchase agreements
with others 23.0 23.6
25 All other loans 87.8 85.5
26 Lease-financing receivables 133.7 134.3
27 Interbank loans 146.8 132.7
28 Federal funds sold to and
repurchase agreements
with commercial banks 83.3 (r) 72.3
29 Other 63.5 60.4
30 Cash assets (4) 145.4 139.8
31 Other assets (5) 271.1 (r) 268.7 (r)
32 Total assets (6) 3,148.9 (r) 3,139.7 (r)
Liabilities
33 Deposits 1,739.9 1,730.8
34 Transaction 303.4 304.3
35 Nontransaction 1,436.5 1,426.5
36 Large time 269.0 271.3
37 Other 1,167.5 1,155.2
38 Borrowings 709.3 (r) 695.2 (r)
39 From banks in the U.S. 231.1 (r) 213.8 (r)
40 From others 478.2 (r) 481.5 (r)
41 Net due to related foreign
offices 172.7 (r) 195.2 (r)
42 Other liabilities 205.0 (r) 196.6 (r)
43 Total liabilities 2,826.8 (r) 2,817.8 (r)
44 Residual (assets less
liabilities) (7) 322.1 (r) 322.0 (r)
Not seasonally adjusted
Assets
45 Bank credit 2,619.1 2,629.7
46 Securities in bank credit 602.2 611.1
47 U.S. government securities 349.7 354.9
48 Trading account 34.0 35.2
49 Investment account 315.7 319.7
Mortgage-backed
50 securities 227.4 (r) 234.2 (r)
51 Other 88.2 (r) 85.6 (r)
52 One year or less 30.9 (r) 27.8 (r)
53 One to five years 31.4 31.2
54 More than five years 25.9 26.6
55 Other securities 252.5 256.2
56 Trading account 134.2 136.1
57 Investment account 118.4 120.0
State and local
58 government 28.0 28.0
59 Other 90.3 92.1
60 Loans and leases in bank
credit (2) 2,016.9 2,018.7
61 Commercial and industrial 590.4 587.9
62 Bankers acceptances .8 .8
63 Other 589.6 587.1
64 Real estate 842.5 851.8 (r)
65 Revolving home equity 89.6 91.1
66 Other 456.1 462.1
67 Commercial 296.8 298.7
68 Consumer 250.0 252.3
Credit cards and related
69 plans 84.7 87.0
70 Other 165.4 (r) 165.3
71 Security (3) 67.3 61.8
72 Federal funds sold to and
repurchase agreements
with broker-dealers 51.5 45.7
73 Other 15.8 16.0
74 State and local government 13.0 13.0
75 Agricultural 10.3 10.6
76 Federal funds sold to and
repurchase agreements
with others 23.0 23.6
77 All other loans 86.6 84.0
78 Lease-financing receivables 133.8 133.7
79 Interbank loans 148.9 135.0
80 Federal funds sold to and
repurchase agreements
with commercial banks 84.4 73.5
81 Other 64.4 61.5
82 Cash assets (4) 145.7 139.9
83 Other assets (5) 271.8 (r) 269.5 (r)
84 Total assets (6) 3,147.8 (r) 3,136.4 (r)
Liabilities
85 Deposits 1,749.0 1,724.0
86 Transaction 310.7 300.0
87 Nontransaction 1,438.3 1,424.0
88 Large time 266.9 268.5
89 Other 1,171.4 1,155.5
90 Borrowings 710.0 (r) 700.3 (r)
91 From banks in the U.S. 234.3 (r) 216.9 (r)
92 From nonbanks in the U.S. 475.6 (r) 483.4 (r)
93 Net due to related foreign
offices 170.3 197.5
94 Other liabilities 202.2 (r) 198.8 (r)
95 Total liabilities 2,831.5 (r) 2,820.7 (r)
96 Residual (assets less
liabilities) (7) 316.3 (r) 315.8 (r)
Wed-
Monthly averages nesday
figures
Account 2001 2001
June July July 4
Seasonally adjusted
Assets
1 Bank credit 2,635.1 2,626.4 2,619.4
2 Securities in bank credit 617.1 614.1 604.4
3 U.S. government securities 353.8 354.2 347.0
4 Trading account 35.1 38.3 34.1
5 Investment account 318.7 315.9 312.8
6 Other securities 263.3 259.9 257.4
7 Trading account 143.5 140.8 140.3
8 Investment account 119.8 (r) 119.2 117.2
9 State and local
government 27.9 27.8 27.5
10 Other 92.0 91.4 89.7
11 Loans and leases in bank
credit (2) 2,018.0 2,012.2 2,015.0
12 Commercial and industrial 574.6 566.0 565.6
13 Bankers acceptances .7 .0 n.a.
14 Other 573.8 566.0 565.6
15 Real estate 850.8 (r) 849.4 849.3
16 Revolving home equity 91.4 91.7 91.7
17 Other 759.5 757.8 757.7
18 Consumer 253.7 253.4 253.9
19 Security (3) 72.3 74.8 77.1
20 Federal funds sold to and
repurchase agreements
with broker-dealers 54.7 59.6 59.8
21 Other 17.6 15.2 17.3
22 State and local government 13.3 14.3 14.3
23 Agricultural 10.5 10.2 10.2
24 Federal funds sold to and
repurchase agreements
with others 25.5 30.8 28.2
25 All other loans 84.8 82.0 85.0
26 Lease-financing receivables 132.5 131.4 131.4
27 Interbank loans 128.8 133.6 122.7
28 Federal funds sold to and
repurchase agreements
with commercial banks 71.6 70.6 66.4
29 Other 57.2 63.0 56.3
30 Cash assets (4) 135.5 146.1 144.0
31 Other assets (5) 257.0 (r) 263.1 258.6
32 Total assets (6) 3,118.8 (r) 3,131.1 3,107.0
Liabilities
33 Deposits 1,735.4 1,747.0 1,760.6
34 Transaction 299.8 305.8 298.0
35 Nontransaction 1,435.5 1,441.2 1,462.7
36 Large time 274.8 271.2 278.6
37 Other 1,160.8 1,170.0 1,184.0
38 Borrowings 666.8 (r) 680.6 653.9
39 From banks in the U.S. 211.3 (r) 218.9 210.0
40 From others 455.5 (r) 461.7 443.9
41 Net due to related foreign
offices 190.9 (r) 192.4 187.2
42 Other liabilities 208.6 (r) 191.6 192.0
43 Total liabilities 2,801.8 (r) 2,811.5 2,793.8
44 Residual (assets less
liabilities) (7) 317.0 (r) 319.6 313.3
Not seasonally adjusted
Assets
45 Bank credit 2,629.7 2,610.1 2,617.8
46 Securities in bank credit 614.8 605.2 599.5
47 U.S. government securities 352.5 350.3 345.1
48 Trading account 35.0 37.9 33.9
49 Investment account 317.5 312.4 311.1
Mortgage-backed
50 securities 230.5 (r) 230.7 228.0
51 Other 87.0 (r) 81.7 83.1
52 One year or less 26.2 (r) 21.8 23.2
53 One to five years 34.3 34.2 33.4
54 More than five years 26.5 25.8 26.5
55 Other securities 262.3 254.9 254.5
56 Trading account 142.9 138.1 138.6
57 Investment account 119.4 116.9 115.8
State and local
58 government 27.8 27.3 27.2
59 Other 91.6 89.6 88.7
60 Loans and leases in bank
credit (2) 2,015.0 2,004.9 2,018.3
61 Commercial and industrial 576.2 566.0 570.6
62 Bankers acceptances .7 .0 n.a.
63 Other 575.4 566.0 570.6
64 Real estate 849.5 848.0 848.1
65 Revolving home equity 91.6 92.4 92.0
66 Other 457.7 455.4 455.5
67 Commercial 300.2 300.3 300.5
68 Consumer 253.2 251.7 252.6
Credit cards and related
69 plans 88.0 87.3 87.8
70 Other 165.2 164.3 164.8
71 Security (3) 69.9 70.1 72.8
72 Federal funds sold to and
repurchase agreements
with broker-dealers 52.9 55.9 56.4
73 Other 17.0 14.3 16.4
74 State and local government 13.3 14.3 14.3
75 Agricultural 10.5 10.3 10.4
76 Federal funds sold to and
repurchase agreements
with others 25.5 30.8 28.2
77 All other loans 84.8 82.8 90.2
78 Lease-financing receivables 132.1 130.9 131.2
79 Interbank loans 133.2 133.4 133.2
80 Federal funds sold to and
repurchase agreements
with commercial banks 74.0 70.5 72.1
81 Other 59.2 62.9 61.1
82 Cash assets (4) 134.0 139.6 154.2
83 Other assets (5) 259.2 (r) 262.5 265.8
84 Total assets (6) 3,118.3 (r) 3,107.7 3,133.1
Liabilities
85 Deposits 1,734.9 1,738.7 1,785.2
86 Transaction 299.9 300.9 319.0
87 Nontransaction 1,435.0 1,437.8 1,466.2
88 Large time 272.1 267.6 273.8
89 Other 1,162.8 1,170.3 1,192.4
90 Borrowings 667.7 (r) 671.2 654.2
91 From banks in the U.S. 212.1 (r) 215.6 211.2
92 From nonbanks in the U.S. 455.5 (r) 455.6 443.0
93 Net due to related foreign
offices 190.3 189.2 184.0
94 Other liabilities 208.1 (r) 188.7 189.3
95 Total liabilities 2,800.9 (r) 2,787.9 2,812.7
96 Residual (assets less
liabilities) (7) 317.3 (r) 319.9 320.4
Wednesday figures
Account 2001
July 11 July 18 July 25
Seasonally adjusted
Assets
1 Bank credit 2,619.0 2,620.0 2,625.2
2 Securities in bank credit 600.2 606.5 614.5
3 U.S. government securities 351.6 347.9 354.6
4 Trading account 38.6 39.4 38.1
5 Investment account 313.1 308.6 316.5
6 Other securities 248.6 258.6 259.8
7 Trading account 130.6 139.0 140.4
8 Investment account 118.0 119.6 119.5
9 State and local
government 27.8 27.8 28.0
10 Other 90.2 91.7 91.5
11 Loans and leases in bank
credit (2) 2,018.7 2,013.6 2,010.8
12 Commercial and industrial 566.9 566.2 567.1
13 Bankers acceptances n.a. n.a. n.a.
14 Other 566.9 566.2 567.1
15 Real estate 856.1 852.3 844.7
16 Revolving home equity 91.4 91.7 91.6
17 Other 764.7 760.6 753.1
18 Consumer 253.9 255.5 254.0
19 Security (3) 74.0 73.3 77.1
20 Federal funds sold to and
repurchase agreements
with broker-dealers 57.6 57.9 62.6
21 Other 16.4 15.4 14.5
22 State and local government 14.2 14.3 14.2
23 Agricultural 10.2 10.2 10.2
24 Federal funds sold to and
repurchase agreements
with others 32.0 29.7 30.4
25 All other loans 80.2 80.8 81.4
26 Lease-financing receivables 131.2 131.4 131.6
27 Interbank loans 127.9 130.6 142.1
28 Federal funds sold to and
repurchase agreements
with commercial banks 65.0 68.7 75.8
29 Other 62.8 62.0 66.3
30 Cash assets (4) 139.2 137.6 161.0
31 Other assets (5) 262.8 263.9 264.0
32 Total assets (6) 3,110.7 3,114.1 3,154.2
Liabilities
33 Deposits 1,736.1 1,729.3 1,747.1
34 Transaction 293.3 304.2 326.9
35 Nontransaction 1,442.8 1,425.1 1,420.2
36 Large time 273.0 267.9 267.8
37 Other 1,169.9 1,157.2 1,152.4
38 Borrowings 682.2 680.1 695.2
39 From banks in the U.S. 223.3 222.1 219.2
40 From others 458.8 457.9 476.1
41 Net due to related foreign
offices 191.6 195.3 197.2
42 Other liabilities 185.0 192.9 185.4
43 Total liabilities 2,794.9 2,797.5 2,825.0
44 Residual (assets less
liabilities) (7) 315.8 316.6 329.2
Not seasonally adjusted
Assets
45 Bank credit 2,603.1 2,602.7 2,598.5
46 Securities in bank credit 592.1 596.4 602.4
47 U.S. government securities 348.4 343.3 348.7
48 Trading account 38.2 38.9 37.5
49 Investment account 310.2 300.5 311.2
Mortgage-backed
50 securities 228.2 222.7 230.8
51 Other 82.0 81.7 80.4
52 One year or less 22.2 21.2 20.8
53 One to five years 33.4 34.1 34.6
54 More than five years 26.4 26.5 25.1
55 Other securities 243.7 253.1 253.6
56 Trading account 128.0 136.0 137.0
57 Investment account 115.6 117.0 116.6
State and local
58 government 27.2 27.2 27.4
59 Other 88.4 89.8 89.3
60 Loans and leases in bank
credit (2) 2,011.0 2,006.3 1,996.1
61 Commercial and industrial 567.2 566.4 564.5
62 Bankers acceptances n.a. n.a. n.a.
63 Other 567.2 566.4 564.5
64 Real estate 855.2 851.0 842.1
65 Revolving home equity 92.0 92.4 92.4
66 Other 462.8 458.3 449.2
67 Commercial 300.5 300.3 300.5
68 Consumer 252.0 253.5 252.4
Credit cards and related
69 plans 87.1 88.5 88.5
70 Other 164.9 165.0 163.9
71 Security (3) 68.3 68.8 71.5
72 Federal funds sold to and
repurchase agreements
with broker-dealers 53.2 54.4 58.1
73 Other 15.1 14.4 13.5
74 State and local government 14.2 14.3 14.2
75 Agricultural 10.4 10.3 10.3
76 Federal funds sold to and
repurchase agreements
with others 32.0 29.7 30.4
77 All other loans 80.9 81.5 79.7
78 Lease-financing receivables 130.9 130.8 130.8
79 Interbank loans 127.1 131.2 135.9
80 Federal funds sold to and
repurchase agreements
with commercial banks 64.7 69.0 72.6
81 Other 62.5 62.2 63.4
82 Cash assets (4) 131.5 133.1 141.9
83 Other assets (5) 263.4 263.1 258.4
84 Total assets (6) 3,087.2 3,092.2 3,096.9
Liabilities
85 Deposits 1,732.6 1,721.9 1,713.1
86 Transaction 287.0 299.0 305.3
87 Nontransaction 1,445.5 1,422.9 1,407.8
88 Large time 270.0 264.3 263.7
89 Other 1,175.6 1,158.6 1,144.1
90 Borrowings 674.6 674.0 679.7
91 From banks in the U.S. 221.5 219.5 212.6
92 From nonbanks in the U.S. 453.1 454.5 467.1
93 Net due to related foreign
offices 186.0 191.1 195.9
94 Other liabilities 179.9 189.0 184.0
95 Total liabilities 2,773.1 2,775.9 2,772.7
96 Residual (assets less
liabilities) (7) 314.1 316.2 324.2
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2001
Account July (r) Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 1,948.6 2,063.7 2,070.9
2 Securities in bank credit 516.9 550.1 550.8
3 U.S. government securities 365.5 360.4 357.6
4 Other securities 151.4 189.7 193.2
5 Loans and leases in bank
credit (2) 1,431.7 1,513.6 1,520.0
6 Commercial and industrial 276.1 292.3 294.5
7 Real estate 770.9 815.8 820.6
8 Revolving home equity 40.7 45.9 46.3
9 Other 730.2 769.9 774.2
10 Consumer 288.3 302.5 299.8
11 Security (3) 6.5 7.0 7.5
12 Other loans and leases 89.9 96.0 97.6
13 Interbank loans 72.2 85.9 96.6
14 Cash assets (4) 94.7 84.9 85.7
15 Other assets (5) 102.4 113.6 113.9
16 Total assets (6) 2,192.5 2,321.3 2,340.3
Liabilities
17 Deposits 1,671.8 1,810.9 1,822.5
18 Transaction 292.6 295.6 297.2
19 Nontransaction 1,379.2 1,515.3 1,525.3
20 Large time 271.8 296.2 302.1
21 Other 1,107.4 1,219.1 1,223.2
22 Borrowings 334.7 340.5 338.0
23 From banks in the U.S. 161.9 157.0 157.0
24 From others 172.8 183.5 181.0
25 Net due to related foreign
offices 0.0 16.8 16.7
26 Other liabilities 44.6 52.9 53.5
27 Total liabilities 2,051.1 2,221.1 2,230.7
28 Residual (assets less
liabilities) (7) 141.4 100.2 109.7
Not seasonally adjusted
Assets
29 Bank credit 1,948.6 2,059.4 2,059.8
30 Securities in bank credit 516.6 549.6 548.9
31 U.S. government securities 365.2 359.8 355.7
32 Other securities 151.4 189.7 193.2
33 Loans and leases in bank
credit (2) 1,432.0 1,509.9 1,510.9
34 Commercial and industrial 275.9 291.3 292.8
35 Real estate 771.4 814.2 817.3
36 Revolving home equity 40.5 45.9 46.2
37 Other 730.9 768.3 771.1
38 Consumer 287.4 303.3 298.3
39 Credit cards and related
plans 124.0 134.8 130.1
40 Other 163.4 168.6 168.2
41 Security (3) 6.3 7.0 7.5
42 Other loans and leases 91.0 94.0 95.0
43 Interbank loans 67.2 86.4 99.5
44 Cash assets (4) 93.3 87.5 84.7
45 Other assets (5) 102.4 113.6 113.9
46 Total assets (6) 2,186.0 2,320.1 2,331.2
Liabilities
47 Deposits 1,660.9 1,809.6 1,823.5
48 Transaction 290.8 298.2 292.3
49 Nontransaction 1,370.1 1,511.4 1,531.1
50 Large time 271.8 296.2 302.1
51 Other 1,098.3 1,215.2 1,229.0
52 Borrowings 334.7 340.5 338.0
53 From banks in the U.S. 161.9 157.0 157.0
54 From others 172.8 183.5 181.0
55 Net due to related foreign
offices 0.0 16.8 16.7
56 Other liabilities 44.6 52.9 53.5
57 Total liabilities 2,040.2 2,219.8 2,231.6
58 Residual (assets less
liabilities) (7) 145.8 100.3 99.6
Monthly averages
2001
Account Mar. (r) Apr. (r) May (r)
Seasonally adjusted
Assets
1 Bank credit 2,061.9 2,067.4 2,077.0
2 Securities in bank credit 542.6 539.8 542.4
3 U.S. government securities 345.6 341.6 341.2
4 Other securities 197.0 198.2 201.1
5 Loans and leases in bank
credit (2) 1,519.3 1,527.6 1,534.7
6 Commercial and industrial 295.4 295.2 295.0
7 Real estate 820.7 824.2 828.7
8 Revolving home equity 46.3 46.7 47.4
9 Other 774.4 777.5 781.3
10 Consumer 296.8 300.0 301.2
11 Security (3) 8.0 8.4 8.5
12 Other loans and leases 98.4 99.9 101.3
13 Interbank loans 106.9 115.5 121.1
14 Cash assets (4) 87.0 103.9 104.1
15 Other assets (5) 117.8 107.8 107.2
16 Total assets (6) 2,347.0 2,367.3 2,381.9
Liabilities
17 Deposits 1,832.3 1,857.3 1,865.6
18 Transaction 293.8 294.6 297.3
19 Nontransaction 1,538.5 1,562.7 1,568.3
20 Large time 299.1 300.8 298.6
21 Other 1,239.3 1,261.9 1,269.6
22 Borrowings 330.1 333.8 337.6
23 From banks in the U.S. 150.4 149.8 151.4
24 From others 179.7 184.0 186.2
25 Net due to related foreign
offices 15.4 12.8 16.6
26 Other liabilities 55.8 56.0 56.8
27 Total liabilities 2,233.6 2,259.9 2,276.6
28 Residual (assets less
liabilities) (7) 113.4 107.4 105.3
Not seasonally adjusted
Assets
29 Bank credit 2,057.5 2,067.1 2,077.5
30 Securities in bank credit 544.8 542.5 543.9
31 U.S. government securities 347.8 344.3 342.8
32 Other securities 197.0 198.2 201.1
33 Loans and leases in bank
credit (2) 1,512.7 1,524.6 1,533.6
34 Commercial and industrial 295.1 297.3 297.6
35 Real estate 819.1 823.8 829.4
36 Revolving home equity 46.1 46.6 47.5
37 Other 773.0 777.2 782.0
38 Consumer 293.3 296.3 298.6
39 Credit cards and related
plans 126.4 129.8 132.2
40 Other 167.0 166.4 166.4
41 Security (3) 8.2 8.4 8.2
42 Other loans and leases 96.9 98.8 99.9
43 Interbank loans 113.2 119.4 112.1
44 Cash assets (4) 83.4 100.4 102.6
45 Other assets (5) 117.8 107.8 107.2
46 Total assets (6) 2,345.2 2,367.4 2,371.9
Liabilities
47 Deposits 1,839.7 1,864.6 1,859.2
48 Transaction 291.8 294.1 292.2
49 Nontransaction 1,547.9 1,570.5 1,567.0
50 Large time 299.1 300.8 298.6
51 Other 1,248.8 1,269.7 1,268.3
52 Borrowings 330.1 333.8 337.6
53 From banks in the U.S. 150.4 149.8 151.4
54 From others 179.7 184.0 186.2
55 Net due to related foreign
offices 15.4 12.8 16.6
56 Other liabilities 55.8 56.0 56.8
57 Total liabilities 2,241.0 2,267.1 2,270.2
58 Residual (assets less
liabilities) (7) 104.2 100.3 101.7
Wednes-
Monthly averages day
figures
2001 2001
Account June (r) July July 4
Seasonally adjusted
Assets
1 Bank credit 2,081.2 2,095.3 2,080.3
2 Securities in bank credit 545.8 553.2 548.4
3 U.S. government securities 343.2 350.5 346.8
4 Other securities 202.6 202.7 201.6
5 Loans and leases in bank
credit (2) 1,535.4 1,542.1 1,531.9
6 Commercial and industrial 296.5 299.4 297.4
7 Real estate 832.6 839.6 835.1
8 Revolving home equity 48.3 49.6 48.9
9 Other 784.4 790.0 786.3
10 Consumer 297.2 295.1 293.1
11 Security (3) 8.4 8.5 8.2
12 Other loans and leases 100.8 99.5 98.0
13 Interbank loans 117.6 117.4 113.9
14 Cash assets (4) 102.0 103.8 103.9
15 Other assets (5) 112.4 120.8 122.6
16 Total assets (6) 2,386.0 2,410.1 2,393.4
Liabilities
17 Deposits 1,883.5 1,901.2 1,901.4
18 Transaction 290.5 289.6 283.9
19 Nontransaction 1,593.0 1,611.5 1,617.5
20 Large time 296.7 300.0 299.0
21 Other 1,296.3 1,311.6 1,318.5
22 Borrowings 335.6 336.9 332.9
23 From banks in the U.S. 149.7 150.2 147.4
24 From others 185.9 186.7 185.5
25 Net due to related foreign
offices 13.1 14.7 11.1
26 Other liabilities 57.3 57.9 57.3
27 Total liabilities 2,289.6 2,310.7 2,302.7
28 Residual (assets less
liabilities) (7) 96.4 99.3 90.7
Not seasonally adjusted
Assets
29 Bank credit 2,083.1 2,095.4 2,088.3
30 Securities in bank credit 547.4 553.0 549.6
31 U.S. government securities 344.8 350.3 347.9
32 Other securities 202.6 202.7 201.6
33 Loans and leases in bank
credit (2) 1,535.7 1,542.4 1,538.7
34 Commercial and industrial 298.3 299.3 300.6
35 Real estate 833.4 840.1 837.0
36 Revolving home equity 48.2 49.3 48.8
37 Other 785.1 790.7 788.1
38 Consumer 295.0 294.3 292.8
39 Credit cards and related
plans 129.0 128.6 127.4
40 Other 166.0 165.7 165.4
41 Security (3) 8.2 8.2 8.3
42 Other loans and leases 100.8 100.4 100.1
43 Interbank loans 110.9 109.8 113.6
44 Cash assets (4) 100.8 102.5 113.2
45 Other assets (5) 112.4 120.8 122.6
46 Total assets (6) 2,380.0 2,401.2 2,410.4
Liabilities
47 Deposits 1,872.2 1,888.0 1,907.3
48 Transaction 290.2 288.1 295.5
49 Nontransaction 1,582.0 1,599.9 1,611.7
50 Large time 296.7 300.0 299.0
51 Other 1,285.3 1,299.9 1,312.7
52 Borrowings 335.6 336.9 332.9
53 From banks in the U.S. 149.7 150.2 147.4
54 From others 185.9 186.7 185.5
55 Net due to related foreign
offices 13.1 14.7 11.1
56 Other liabilities 57.3 57.9 57.3
57 Total liabilities 2,278.2 2,297.6 2,308.6
58 Residual (assets less
liabilities) (7) 101.7 103.7 101.8
Wednesday figures
2001
Account July 11 July 18 July 25
Seasonally adjusted
Assets
1 Bank credit 2,089.3 2,092.4 2,103.5
2 Securities in bank credit 549.8 550.2 556.0
3 U.S. government securities 346.8 347.7 354.1
4 Other securities 203.1 202.5 201.9
5 Loans and leases in bank
credit (2) 1,539.5 1,542.2 1,547.5
6 Commercial and industrial 299.1 300.2 300.0
7 Real estate 838.4 839.8 840.8
8 Revolving home equity 49.3 49.5 49.9
9 Other 789.1 790.2 790.9
10 Consumer 294.2 293.9 298.0
11 Security (3) 8.4 8.6 8.6
12 Other loans and leases 99.5 99.7 100.1
13 Interbank loans 113.4 119.0 122.7
14 Cash assets (4) 101.2 100.7 107.3
15 Other assets (5) 120.2 118.7 117.3
16 Total assets (6) 2,397.0 2,403.6 2,423.4
Liabilities
17 Deposits 1,891.5 1,893.3 1,904.0
18 Transaction 279.0 288.2 306.5
19 Nontransaction 1,612.5 1,605.0 1,597.5
20 Large time 298.7 299.9 300.0
21 Other 1,313.8 1,305.1 1,297.5
22 Borrowings 334.4 336.5 341.0
23 From banks in the U.S. 148.1 149.7 153.8
24 From others 186.2 186.9 187.2
25 Net due to related foreign
offices 17.1 13.7 12.0
26 Other liabilities 56.7 58.3 59.3
27 Total liabilities 2,299.7 2,301.8 2,316.3
28 Residual (assets less
liabilities) (7) 97.3 101.8 107.1
Not seasonally adjusted
Assets
29 Bank credit 2,089.7 2,091.9 2,099.8
30 Securities in bank credit 550.5 550.0 555.4
31 U.S. government securities 347.4 347.5 353.5
32 Other securities 203.1 202.5 201.9
33 Loans and leases in bank
credit (2) 1,539.2 1,541.9 1,544.4
34 Commercial and industrial 299.8 300.0 298.3
35 Real estate 838.5 840.0 840.9
36 Revolving home equity 49.1 49.2 49.5
37 Other 789.4 790.8 791.3
38 Consumer 292.2 293.2 297.2
39 Credit cards and related
plans 126.5 127.4 131.4
40 Other 165.7 165.8 165.8
41 Security (3) 8.3 8.4 8.0
42 Other loans and leases 100.4 100.4 100.0
43 Interbank loans 110.0 110.1 107.1
44 Cash assets (4) 99.9 98.0 100.2
45 Other assets (5) 120.2 118.7 117.3
46 Total assets (6) 2,392.7 2,391.5 2,396.9
Liabilities
47 Deposits 1,882.5 1,878.3 1,876.6
48 Transaction 278.6 285.0 296.1
49 Nontransaction 1,603.9 1,593.2 1,580.5
50 Large time 298.7 299.9 300.0
51 Other 1,305.3 1,293.3 1,280.5
52 Borrowings 334.4 336.5 341.0
53 From banks in the U.S. 148.1 149.7 153.8
54 From others 186.2 186.9 187.2
55 Net due to related foreign
offices 17.1 13.7 12.0
56 Other liabilities 56.7 58.3 59.3
57 Total liabilities 2,290.7 2,286.8 2,288.9
58 Residual (assets less
liabilities) (7) 102.0 104.7 108.0
E. Foreign-related institutions
Billions of dollars
Monthly averages
2000 2001
Account July (r) Jan. Feb.
Seasonally adjusted
Assets
1 Bank credit 576.1 614.8 (r) 608.5 (r)
2 Securities in bank credit 203.6 209.6 (r) 200.1 (r)
3 U.S. government securities 78.1 66.6 (r) 64.5 (r)
4 Other securities 125.5 143.0 (r) 135.7 (r)
5 Loans and leases in bank
credit (2) 372.5 405.2 (r) 408.3
6 Commercial and industrial 203.6 214.5 (r) 216.8
7 Real estate 18.1 18.5 18.6
8 Security (3) 83.6 105.1 105.3
9 Other loans and leases 67.3 67.2 67.6
10 Interbank loans 23.6 29.2 28.4
11 Cash assets (4) 44.5 41.5 41.6 (r)
12 Other assets (5) 42.1 35.9 (r) 35.2 (r)
13 Total assets (6) 685.9 721.0 (r) 713.3
Liabilities
14 Deposits 390.0 386.7 380.6
15 Transaction 11.1 10.2 10.3
16 Nontransaction 378.9 376.5 370.3
17 Borrowings 203.4 243.5 238.4
18 From banks in the U.S. 21.1 25.1 22.5
19 From others 182.3 218.3 216.0
20 Net due to related foreign
offices 20.3 3.5 4.8
21 Other liabilities 74.6 79.8 (r) 77.2 (r)
22 Total liabilities 688.4 713.5 (r) 700.9 (r)
23 Residual (assets less
liabilities) (7) -2.5 7.5 (r) 12.4 (r)
Not seasonally adjusted
24 Bank credit 571.9 622.8 (r) 611.7 (r)
25 Securities in bank credit 203.6 209.6 (r) 200.1 (r)
26 U.S. government securities 78.1 66.6 (r) 64.5 (r)
27 Trading account 12.0 11.4 10.4
28 Investment account 66.1 55.3 (r) 54.0 (r)
29 Other securities 125.5 143.0 (r) 135.7 (r)
30 Trading account 81.4 96.4 90.8
31 Investment account 44.1 46.6 (r) 44.9 (r)
32 Loans and leases in bank
credit (2) 368.3 413.2 411.6 (r)
33 Commercial and industrial 202.9 216.1 219.0
34 Real estate 18.1 18.5 18.6
35 Security (3) 80.9 110.3 106.3
36 Other loans and leases 66.4 68.3 67.7
37 Interbank loans 23.6 29.2 28.4
38 Cash assets (4) 43.0 44.1 41.8
39 Other assets (5) 41.0 37.1 (r) 36.1 (r)
40 Total assets (6) 679.1 732.9 (r) 717.6
Liabilities
41 Deposits 381.4 396.6 388.8
42 Transaction 11.2 10.4 10.1
43 Nontransaction 370.2 386.2 378.7
44 Borrowings 203.4 243.5 238.4
45 From banks in the U.S. 21.1 25.1 22.5
46 From others 182.3 218.3 216.0
47 Net due to related foreign
offices 17.3 6.8 8.0
48 Other liabilities 73.3 81.3 (r) 78.6 (r)
49 Total liabilities 675.4 728.1 (r) 713.8 (r)
50 Residual (assets less
liabilities) (7) 3.8 4.8 (r) 3.8 (r)
Monthly averages
2001
Account Mar. (r) Apr. (r) May (r)
Seasonally adjusted
Assets
1 Bank credit 622.7 626.2 610.3
2 Securities in bank credit 207.4 221.0 215.1
3 U.S. government securities 68.1 74.2 69.0
4 Other securities 139.3 146.8 146.1
5 Loans and leases in bank
credit (2) 415.3 405.1 395.2
6 Commercial and industrial 219.7 218.5 216.6
7 Real estate 18.5 17.7 17.8
8 Security (3) 107.1 100.7 92.7
9 Other loans and leases 70.0 68.2 68.0
10 Interbank loans 30.5 28.1 30.5
11 Cash assets (4) 40.5 38.5 36.7
12 Other assets (5) 36.3 39.8 37.4
13 Total assets (6) 729.7 732.2 714.6
Liabilities
14 Deposits 378.2 394.1 408.7
15 Transaction 9.5 10.8 10.8
16 Nontransaction 368.8 383.3 397.9
17 Borrowings 233.4 240.6 219.4
18 From banks in the U.S. 24.5 25.9 21.4
19 From others 208.9 214.7 198.0
20 Net due to related foreign
offices 21.8 4.5 -4.4
21 Other liabilities 82.8 88.6 85.4
22 Total liabilities 716.2 727.8 709.1
23 Residual (assets less
liabilities) (7) 13.5 4.3 5.4
Not seasonally adjusted
24 Bank credit 617.8 623.3 605.6
25 Securities in bank credit 207.4 221.0 215.1
26 U.S. government securities 68.1 74.2 69.0
27 Trading account 9.5 14.8 13.8
28 Investment account 58.5 59.4 55.2
29 Other securities 139.3 146.8 146.1
30 Trading account 94.6 99.6 99.3
31 Investment account 44.7 47.3 46.8
32 Loans and leases in bank
credit (2) 410.4 402.2 390.5
33 Commercial and industrial 220.9 216.8 213.6
34 Real estate 18.5 17.7 17.8
35 Security (3) 101.1 99.3 91.9
36 Other loans and leases 69.9 68.4 67.2
37 Interbank loans 30.5 28.1 30.5
38 Cash assets (4) 39.1 37.0 35.8
39 Other assets (5) 36.9 38.9 36.8
40 Total assets (6) 724.0 726.9 708.4
Liabilities
41 Deposits 382.7 397.0 409.9
42 Transaction 9.2 10.2 10.4
43 Nontransaction 373.5 386.7 399.4
44 Borrowings 233.4 240.6 219.4
45 From banks in the U.S. 24.5 25.9 21.4
46 From others 208.9 214.7 198.0
47 Net due to related foreign
offices 22.0 -.1 -7.6
48 Other liabilities 82.8 86.5 83.9
49 Total liabilities 720.9 724.0 705.6
50 Residual (assets less
liabilities) (7) 3.1 2.9 2.9
Wednes-
Monthly averages day
figures
2001 2000
Account June (r) July July 4
Seasonally adjusted
Assets
1 Bank credit 601.5 592.5 593.0
2 Securities in bank credit 217.2 218.7 220.9
3 U.S. government securities 67.1 66.8 69.4
4 Other securities 150.1 151.9 151.5
5 Loans and leases in bank
credit (2) 384.3 373.7 372.1
6 Commercial and industrial 208.7 204.0 203.0
7 Real estate 17.6 17.8 17.6
8 Security (3) 90.9 86.2 85.8
9 Other loans and leases 67.0 65.7 65.6
10 Interbank loans 23.5 22.3 22.0
11 Cash assets (4) 35.2 35.5 33.9
12 Other assets (5) 37.3 31.9 32.8
13 Total assets (6) 697.2 681.9 681.4
Liabilities
14 Deposits 419.2 413.1 428.6
15 Transaction 9.9 9.7 10.6
16 Nontransaction 409.3 403.4 418.0
17 Borrowings 216.4 212.1 221.0
18 From banks in the U.S. 24.2 24.1 29.8
19 From others 192.2 188.0 191.2
20 Net due to related foreign
offices -19.7 -16.3 -38.8
21 Other liabilities 83.6 78.7 78.7
22 Total liabilities 699.5 687.5 689.5
23 Residual (assets less
liabilities) (7) -2.3 -5.6 -8.1
Not seasonally adjusted
24 Bank credit 597.7 588.0 590.5
25 Securities in bank credit 217.2 218.7 220.9
26 U.S. government securities 67.1 66.8 69.4
27 Trading account 13.8 13.6 16.0
28 Investment account 53.3 53.2 53.4
29 Other securities 150.1 151.9 151.5
30 Trading account 105.6 107.7 107.9
31 Investment account 44.4 44.2 43.6
32 Loans and leases in bank
credit (2) 380.5 369.3 369.6
33 Commercial and industrial 207.6 203.3 203.3
34 Real estate 17.6 17.8 17.6
35 Security (3) 88.9 83.4 83.0
36 Other loans and leases 66.4 64.8 65.6
37 Interbank loans 23.5 22.3 22.0
38 Cash assets (4) 34.2 34.3 33.0
39 Other assets (5) 36.0 31.1 31.5
40 Total assets (6) 691.0 675.4 676.7
Liabilities
41 Deposits 412.1 402.9 414.6
42 Transaction 9.7 9.8 11.1
43 Nontransaction 402.3 393.1 403.5
44 Borrowings 216.4 212.1 221.0
45 From banks in the U.S. 24.2 24.1 29.8
46 From others 192.2 188.0 191.2
47 Net due to related foreign
offices -22.9 -19.6 -39.7
48 Other liabilities 82.1 77.2 78.3
49 Total liabilities 687.7 672.6 674.1
50 Residual (assets less
liabilities) (7) 3.3 2.8 2.5
Wednesday figures
2000
Account July 11 July 18 July 25
Seasonally adjusted
Assets
1 Bank credit 588.5 587.4 592.4
2 Securities in bank credit 217.2 217.7 217.5
3 U.S. government securities 66.2 66.6 66.3
4 Other securities 151.0 151.1 151.1
5 Loans and leases in bank
credit (2) 371.4 369.6 375.0
6 Commercial and industrial 202.5 204.6 205.0
7 Real estate 17.6 17.7 17.9
8 Security (3) 86.0 82.7 85.6
9 Other loans and leases 65.2 64.6 66.5
10 Interbank loans 23.7 24.2 22.1
11 Cash assets (4) 35.7 36.0 36.7
12 Other assets (5) 32.2 33.2 31.7
13 Total assets (6) 679.8 680.5 682.5
Liabilities
14 Deposits 418.6 407.6 409.2
15 Transaction 10.0 9.5 9.0
16 Nontransaction 408.6 398.1 400.2
17 Borrowings 202.7 204.7 213.1
18 From banks in the U.S. 20.9 20.7 25.1
19 From others 181.8 184.0 188.0
20 Net due to related foreign
offices -12.6 -5.4 -13.1
21 Other liabilities 77.2 81.1 80.1
22 Total liabilities 686.0 687.9 689.2
23 Residual (assets less
liabilities) (7) -6.2 -7.4 -6.7
Not seasonally adjusted
24 Bank credit 582.5 585.2 586.0
25 Securities in bank credit 217.2 217.7 217.5
26 U.S. government securities 66.2 66.6 66.3
27 Trading account 13.2 13.7 13.5
28 Investment account 53.0 52.9 52.8
29 Other securities 151.0 151.1 151.1
30 Trading account 107.3 107.2 106.8
31 Investment account 43.7 43.9 44.3
32 Loans and leases in bank
credit (2) 365.4 367.4 368.5
33 Commercial and industrial 201.6 204.4 203.7
34 Real estate 17.6 17.7 17.9
35 Security (3) 81.6 81.4 82.1
36 Other loans and leases 64.5 64.0 64.8
37 Interbank loans 23.7 24.2 22.1
38 Cash assets (4) 34.3 34.6 35.3
39 Other assets (5) 31.4 32.4 30.7
40 Total assets (6) 671.6 676.1 673.6
Liabilities
41 Deposits 406.5 398.0 401.0
42 Transaction 10.0 9.5 8.9
43 Nontransaction 396.5 388.5 392.1
44 Borrowings 202.7 204.7 213.1
45 From banks in the U.S. 20.9 20.7 25.1
46 From others 181.8 184.0 188.0
47 Net due to related foreign
offices -16.0 -8.8 -20.3
48 Other liabilities 75.8 79.5 76.9
49 Total liabilities 669.0 673.4 670.7
50 Residual (assets less
liabilities) (7) 2.6 2.6 2.9
F. Memo items
Billions of dollars
Monthly averages
2000 2001
July Jan. Feb. Mar.
Account (r) (r)
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on off-
balance-sheet items (8) 63.2 79.6 (r) 77.7 (r) 80.8
2 Revaluation losses on off-
balance-sheet items (8) 62.9 82.5 81.0 79.8
3 Mortgage-backed
securities (9) 248.1 255.0 (r) 251.5 (r) 251.7
4 Pass-through 177.3 188.4 (r) 184.5 (r) 186.5
5 CMO, REMIC, and other 70.8 66.6 (r) 66.9 (r) 65.2
6 Net unrealized gains
(losses) on available-
for-sale securities
(10) -12.4 .9 (r) 2.8 (r) 3.6
7 Off-shore credit to U.S.
residents (11) 22.2 23.0 22.7 22.6
8 Securitized consumer
loans (12) 87.3 82.4 80.8 80.2
9 Credit cards and related
plans 72.4 68.5 67.3 67.3
10 Other 15.0 13.9 13.4 12.9
11 Securitized business
loans (12) 17.0 18.4 18.6 18.7
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed securities
(9) 200.6 211.6 (r) 216.4 (r) 222.9
13 Securitized consumer loans
(12) 221.4 231.5 235.6 238.5
14 Credit cards and related
plans 212.5 222.4 226.8 229.9
15 Other 8.9 9.1 8.9 8.7
Foreign-related
institutions
16 Revaluation gains on off-
balance-sheet items (8) 41.2 52.0 49.4 52.7
17 Revaluation losses on off-
balance-sheet items (8) 38.2 49.0 47.0 49.7
18 Securitized business loans
(12) 23.9 23.2 22.4 21.5
Monthly averages
2001
Account Apr. (r) May (r) June (r) July
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on off-
balance-sheet items (8) 79.9 82.0 87.2 77.6
2 Revaluation losses on off-
balance-sheet items (8) 74.9 74.7 81.5 70.3
3 Mortgage-backed
securities (9) 258.3 265.2 261.4 260.8
4 Pass-through 194.6 200.1 200.1 199.3
5 CMO, REMIC, and other 63.7 65.1 61.3 61.6
6 Net unrealized gains
(losses) on available-
for-sale securities
(10) .4 -1.5 -1.7 -1.0
7 Off-shore credit to U.S.
residents (11) 21.7 21.0 20.6 20.2
8 Securitized consumer
loans (12) 78.8 77.0 76.7 76.3
9 Credit cards and related
plans 66.4 65.0 65.3 64.9
10 Other 12.4 12.0 11.5 11.4
11 Securitized business
loans (12) 18.8 19.8 20.4 20.2
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed securities
(9) 230.8 235.2 238.3 245.2
13 Securitized consumer loans
(12) 240.7 241.7 247.6 251.4
14 Credit cards and related
plans 232.1 233.3 239.1 242.8
15 Other 8.6 8.4 8.5 8.6
Foreign-related
institutions
16 Revaluation gains on off-
balance-sheet items (8) 56.5 56.3 57.2 54.9
17 Revaluation losses on off-
balance-sheet items (8) 52.1 51.8 52.0 49.8
18 Securitized business loans
(12) 19.8 18.0 17.2 17.1
Wednesday figures
2001
Account July 4 July 11 July 18 July 25
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on off-
balance-sheet items (8) 80.5 69.0 77.1 75.1
2 Revaluation losses on off-
balance-sheet items (8) 72.3 63.5 71.1 67.9
3 Mortgage-backed
securities (9) 258.0 258.0 253.2 261.2
4 Pass-through 197.5 197.4 193.2 198.3
5 CMO, REMIC, and other 60.6 60.6 60.0 62.9
6 Net unrealized gains
(losses) on available-
for-sale securities
(10) -2.1 -1.8 -1.1 -1.2
7 Off-shore credit to U.S.
residents (11) 20.5 20.1 20.1 20.1
8 Securitized consumer
loans (12) 76.9 76.8 75.5 77.1
9 Credit cards and related
plans 65.7 65.7 64.5 65.1
10 Other 11.2 11.0 10.9 12.0
11 Securitized business
loans (12) 20.4 20.2 20.1 20.1
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed securities
(9) 242.5 243.1 242.4 247.4
13 Securitized consumer loans
(12) 251.0 250.7 250.7 250.8
14 Credit cards and related
plans 242.3 242.1 242.1 242.2
15 Other 8.7 8.6 8.6 8.5
Foreign-related
institutions
16 Revaluation gains on off-
balance-sheet items (8) 55.3 53.7 55.8 54.7
17 Revaluation losses on off-
balance-sheet items (8) 50.0 48.6 50.7 50.0
18 Securitized business loans
(12) 17.3 17.3 17.2 16.7
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
made to purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balances due from depository institutions, and balances due from
Federal Reserve Banks.
(5.) Excludes the due-from position with related foreign offices,
which is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and
leases, and reserves for transfer risk. Loans are reported
gross of these items.
(7.) This balancing item is not intended as a measure of equity
capital for use in capital adequacy analysis. On a seasonally
adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total
liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/
loss position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S.
government agencies, U.S. government-sponsored enterprises,
and private entities.
(10.) Difference between fair value and historical cost for
securities classified as available-for-sale under FASB
Statement No. 115. Data are reported net of tax effects. Data
shown are restated to include an estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes
an unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER AND BANKERS DOLLAR ACCEPTANCES OUTSTANDING
A. Commercial Paper
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item 1996 1997 1998 1999
1 All issuers 775,371 966,699 1,163,303 1,403,023
Financial companies
(1)
2 Dealer-placed
paper, total (2) 361,147 513,307 614,142 786,643
3 Directly placed
paper, total (3) 229,662 252,536 322,030 337,240
4 Nonfinancial
companies (4) 184,563 200,857 227,132 279,140
Year
ending 2001
December
Item 2000 Jan. Feb. Mar.
1 All issuers 1,615,341 1,566,104 1,544,572 1,511,354
Financial companies
(1)
2 Dealer-placed
paper, total (2) 973,060 976,735 977,791 978,225
3 Directly placed
paper, total (3) 298,848 270,922 263,554 249,420
4 Nonfinancial
companies (4) 343,433 318,447 303,227 283,711
2001
Item Apr. May June
1 All issuers 1,519,528 1,501,113 1,468,919
Financial companies
(1)
2 Dealer-placed
paper, total (2) 995,072 986,369 982,216
3 Directly placed
paper, total (3) 247,333 245,768 244,520
4 Nonfinancial
companies (4) 277,123 268,976 242,183
(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.
B. Bankers Dollar Acceptances (1)
Millions of dollars, not seasonally
adjusted, year ending September (2)
Item 1997 1998 1999 2000
1 Total amount of reporting banks'
acceptances in existence 25,774 14,363 10,094 9,881
2 Amount of other banks' eligible
acceptances held by reporting
banks 736 523 461 462
3 Amount of own eligible
acceptances held by reporting
banks (included in item 1) 6,862 4,884 4,261 3,789
4 Amount of eligible acceptances
representing goods stored in,
or shipped between, foreign
countries (included in item 1) 10,467 5,413 3,498 3,689
(1.) Includes eligible, dollar-denominated bankers acceptances
legally payable in the United States. Eligible acceptances are
those that are eligible for discount by Federal Reserve Banks;
that is, those acceptances that meet the criteria of Paragraph
7 of Section 13 of the Federal Reserve Act (12 U.S.C. [section]
372).
(2.) Data on bankers dollar acceptances are gathered from
approximately 40 institutions; includes U.S. chartered
commerical banks (domestic and foreign offices), U.S. branches
and agencies of foreign banks, and Edge and agreement
corporations. The reporting group is revised every year.
1.33 PRIME RATE CHARGED BY BANKS
Short-Term Business Loans (1)
Percent per year
Date of change Rate
1998--Jan. 1 8.50
Sept. 30 8.25
Oct. 16 8.00
Nov. 18 7.75
1999--July 1 8.00
Aug. 25 8.25
Nov. 17 8.50
2000--Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Aug. 22 6.50
Sept. 18 6.00
Average
Period rate
1998 8.35
1999 8.00
2000 9.23
1998--Jan. 8.50
Feb. 8.50
Mar. 8.50
Apr. 8.50
May 8.50
June 8.50
July 8.50
Aug. 8.50
Sept. 8.49
Oct. 8.12
Nov. 7.89
Dec. 7.75
1999--Jan. 7.75
Feb. 7.75
Mar. 7.75
Apr. 7.75
May 7.75
June 7.75
July 8.00
Aug. 8.06
Sept. 8.25
Oct. 8.25
Nov. 8.37
Dec. 8.50
2000--Jan. 8.50
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
2000--July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
Nov. 9.50
Dec. 9.50
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
(1.) The prime rate is one of several base rates that banks use to
price short-term business loans. The table shows the date on which
a new rate came to be the predominant one quoted by a majority of
the twenty-five largest banks by asset size, based on the most
recent Call Report. Data in this table also appear in the Board's
H.15 (519) weekly and G.13 (415) monthly statistical releases.
For ordering address, see inside front cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of
business day data unless otherwise noted
2001
Item 1998 1999 2000 Apr.
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 5.35 4.97 6.24 4.80
2 Discount window borrowing (2,4) 4.92 4.62 5.73 4.28
Commercial paper (3,5,6)
Nonfinancial
3 1-month 5.40 5.09 6.27 4.71
4 2-month 5.38 5.14 6.29 4.54
5 3-month 5.34 5.18 6.31 4.44
Financial
6 1-month 5.42 5.11 6.28 4.74
7 2-month 5.40 5.16 6.30 4.57
8 3-month 5.37 5.22 6.33 4.47
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month 5.39 5.24 6.23 n.a.
16 6-month 5.30 5.30 6.37 n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 5.49 5.19 6.35 4.77
18 3-month 5.47 5.33 6.46 4.53
19 6-month 5.44 5.46 6.59 4.41
20 Eurodollar deposits, 3-month
(3,11) 5.45 5.31 6.45 4.55
U.S. Treasury bills
Secondary market (3,5)
21 3-month 4.78 4.64 5.82 3.87
22 6-month 4.83 4.75 5.90 3.85
23 1-year 4.80 4.81 5.78 3.80
Auction high (3,5,12)
24 3-month 4.81 4.66 5.66 n.a.
25 6-month 4.85 4.76 5.85 n.a.
26 1-year 4.85 4.78 5.85 n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 5.05 5.08 6.11 3.98
28 2-year 5.13 5.43 6.26 4.23
29 3-year 5.14 5.49 6.22 4.42
30 5-year 5.15 5.55 6.16 4.76
31 7-year 5.28 5.79 6.20 5.03
32 10-year 5.26 5.65 6.03 5.14
33 20-year 5.72 6.20 6.23 5.78
34 30-year 5.58 5.87 5.94 5.65
Composite
35 More than 10 years (long-term) 5.69 6.14 6.41 n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.93 5.28 5.58 5.14
37 Baa 5.14 5.70 6.19 5.96
38 Bond Buyer series (15) 5.09 5.43 5.71 5.27
CORPORATE BONDS
39 Seasoned issues, all industries
(16) 6.87 7.45 7.98 7.63
Rating group
40 Aaa 6.53 7.05 7.62 7.20
41 Aa 6.80 7.36 7.83 7.43
42 A 6.93 7.53 8.11 7.82
43 Baa 7.22 7.88 8.36 8.07
MEMO
Dividend-price ratio (17)
44 Common stocks 1.49 1.25 1.15 1.32
2001,
2001 week
ending
June
Item May June July 29
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 4.21 3.97 3.77 3.91
2 Discount window borrowing (2,4) 3.73 3.47 3.25 3.46
Commercial paper (3,5,6)
Nonfinancial
3 1-month 4.06 3.82 3.71 3.69
4 2-month 3.98 3.73 3.63 3.63
5 3-month 3.93 3.67 3.59 3.59
Financial
6 1-month 4.08 3.84 3.73 3.72
7 2-month 4.00 3.75 3.66 3.66
8 3-month 3.96 3.69 3.62 3.60
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 4.11 3.86 3.76 3.73
18 3-month 4.02 3.74 3.66 3.68
19 6-month 4.01 3.74 3.70 3.69
20 Eurodollar deposits, 3-month
(3,11) 4.01 3.73 3.66 3.67
U.S. Treasury bills
Secondary market (3,5)
21 3-month 3.62 3.49 3.51 3.47
22 6-month 3.62 3.45 3.45 3.44
23 1-year 3.60 3.37 3.39 3.38
Auction high (3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 3.78 3.58 3.62 3.60
28 2-year 4.26 4.08 4.04 4.10
29 3-year 4.51 4.35 4.31 4.38
30 5-year 4.93 4.81 4.76 4.82
31 7-year 5.24 5.14 5.06 5.14
32 10-year 5.39 5.28 5.24 5.29
33 20-year 5.92 5.82 5.75 5.81
34 30-year 5.78 5.67 5.61 5.66
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 5.15 5.03 4.79 5.05
37 Baa 5.94 5.82 5.81 5.84
38 Bond Buyer series (15) 5.29 5.20 5.20 5.21
CORPORATE BONDS
39 Seasoned issues, all industries
(16) 7.69 7.56 7.51 7.54
Rating group
40 Aaa 7.29 7.18 7.13 7.17
41 Aa 7.50 7.34 7.27 7.32
42 A 7.88 7.73 7.65 7.70
43 Baa 8.07 7.97 7.97 7.98
MEMO
Dividend-price ratio (17)
44 Common stocks 1.23 1.27 1.30 1.29
2001, week ending
July July July July
Item 6 13 20 27
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 3.89 3.67 3.76 3.81
2 Discount window borrowing (2,4) 3.25 3.25 3.25 3.25
Commercial paper (3,5,6)
Nonfinancial
3 1-month 3.74 3.71 3.70 3.69
4 2-month 3.71 3.65 3.63 3.59
5 3-month 3.67 3.62 3.58 3.54
Financial
6 1-month 3.76 3.73 3.72 3.73
7 2-month 3.73 3.69 3.65 3.62
8 3-month 3.69 3.64 3.61 3.56
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 3.79 3.77 3.75 3.74
18 3-month 3.75 3.69 3.65 3.62
19 6-month 3.81 3.72 3.67 3.63
20 Eurodollar deposits, 3-month
(3,11) 3.74 3.68 3.65 3.62
U.S. Treasury bills
Secondary market (3,5)
21 3-month 3.57 3.54 3.49 3.48
22 6-month 3.50 3.47 3.45 3.41
23 1-year 3.48 3.41 3.36 3.35
Auction high (3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 3.70 3.62 3.60 3.59
28 2-year 4.21 4.10 4.02 3.95
29 3-year 4.47 4.36 4.30 4.25
30 5-year 4.91 4.83 4.72 4.69
31 7-year 5.25 5.14 5.00 4.96
32 10-year 5.41 5.31 5.17 5.16
33 20-year 5.91 5.83 5.69 5.67
34 30-year 5.74 5.67 5.55 5.55
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 5.08 5.06 5.01 4.99
37 Baa 5.86 5.87 5.78 5.74
38 Bond Buyer series (15) 5.26 5.22 5.17 5.14
CORPORATE BONDS
39 Seasoned issues, all industries
(16) 7.62 7.57 7.46 7.45
Rating group
40 Aaa 7.24 7.19 7.09 7.08
41 Aa 7.40 7.35 7.23 7.20
42 A 7.77 7.72 7.61 7.58
43 Baa 8.08 8.03 7.93 7.91
MEMO
Dividend-price ratio (17)
44 Common stocks 1.27 1.32 1.30 1.32
NOTE. Some of the data in this table also appear in the Board's
H.15 (519) weekly and G.13 (415) monthly statistical releases.
For ordering address, see inside front cover.
(1.) The daily effective federal funds rate is a weighted average
of rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days ending on
Wednesday of the current week; monthly figures include each
calendar day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) Rate for the Federal Reserve Bank of New York.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial
paper trades settled by the Depository Trust Company. The trades
represent sales of commercial paper by dealers or direct issuers
to investors (that is, the offer side). See the Board's Commercial
Paper web pages (http://www.federalreserve.gov/releases/cp) for
more information.
(7.) An average of offering rates on commercial paper for firms
whose bond rating is AA or the equivalent. Series ended August
29, 1997.
(8.) An average of offering rates on paper directly placed by
finance companies. Series ended August 29, 1997.
(9.) Representative closing yields for acceptances of the
highest-rated money center banks.
(10.) An average of dealer offering rates on nationally traded
certificates of deposit.
(11.) Bid rates for eurodollar deposits collected around 9:30
a.m. Eastern time. Data are for indication purposes only.
(12.) Auction date for daily data; weekly and monthly averages
computed on an issue-date basis. On or after October 28, 1998,
data are stop yields from uniform-price auctions. Before that,
they are weighted average yields from multiple-price auctions.
(13.) Yields on actively traded issues adjusted to constant
maturities. Source: U.S. Department of the Treasury.
(14.) General obligation bonds based on Thursday figures;
Moody's Investors Service.
(15.) State and local government general obligation bonds
maturing in twenty years are used in compiling this index. The
twenty-bond index has a rating roughly equivalent to Moodys'
A1 rating. Based on Thursday figures.
(16.) Daily figures from Moody's Investors Service. Based on
yields to maturity on selected long-term bonds.
(17.) Standard & Poor's corporate series. Common stock ratio
is based on the 500 stocks in the price index.
1.36 STOCK MARKET Selected Statistics
2000
Indicator 1998 1999 2000 Nov.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 550.65 619.52 643.71 646.64
2 Industrial 684.35 775.29 809.40 800.88
3 Transportation 468.61 491.62 414.73 434.92
4 Utility 190.52 284.82 478.99 455.66
5 Finance 516.65 530.97 552.48 600.45
6 Standard & Poor's
Corporation
(1941-43 = 10)
(1) 1,085.50 1,327.33 1,427.22 1,375.04
7 American Stock
Exchange (Aug.
31, 1973 = 50)
(2) 682.69 770.90 922.22 892.60
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 666,534 799,554 1,026,867 1,015,606
9 American Stock
Exchange 28,870 32,629 51,437 58,541
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-dealers
(3) 140,980 228,530 198,790 219,110
Free credit
balances at
brokers (4)
11 Margin accounts (5) 40,250 55,130 100,680 96,730
12 Cash accounts 62,450 79,070 84,400 74,050
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
2000 2001
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) 645.44 650.55 648.05 603.44
2 Industrial 792.66 796.74 799.38 744.21
3 Transportation 457.53 471.21 482.26 452.36
4 Utility 444.16 440.36 424.53 395.34
5 Finance 621.62 634.17 626.41 583.38
6 Standard & Poor's
Corporation
(1941-43 = 10)
(1) 1,330.93 1,335.63 1,305.75 1,185.85
7 American Stock
Exchange (Aug.
31, 1973 = 50)
(2) 870.16 898.18 923.99 891.22
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,183,149 1,299,986 1,117,977 1,251,569
9 American Stock
Exchange 73,759 72,312 70,648 81,666
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-dealers
(3) 198,790 197,110 186,810 165,350
Free credit
balances at
brokers (4)
11 Margin accounts (5) 100,680 90,380 99,390 106,300
12 Cash accounts 84,400 81,380 78,660 77,520
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
Indicator Apr. May June July
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 607.06 644.44 630.86 613.36
2 Industrial 747.48 798.94 782.73 756.04
3 Transportation 455.22 477.21 458.60 469.80
4 Utility 400.49 414.69 382.98 374.11
5 Finance 587.88 618.74 622.17 614.54
6 Standard & Poor's
Corporation
(1941-43 = 10)
(1) 1,189.84 1,270.37 1,238.71 1,204.45
7 American Stock
Exchange (Aug.
31, 1973 = 50)
(2) 891.18 940.73 923.06 892.74
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,247,382 1,091,366 1,152,193 1,120,074
9 American Stock
Exchange 77,612 66,103 62,395 56,735
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-dealers
(3) 166,940 174,180 170,000 165,250
Free credit
balances at
brokers (4)
11 Margin accounts (5) 97,470 91,990 98,430 97,950
12 Cash accounts 77,460 76,260 75,270 73,490
Margin requirements (percent of market
value and effective date) (6)
Nov. 24, 1972 Jan. 3, 974
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 collaterized 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
October 15, 1934; Regulation U, effective May 1, 1936; Regulation
G, effective Mar. 11, 1968; and Regulation X, effective
Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time
established in Regulation T the initial margin required for
writing options on securities, setting it at 30 percent of the
current market value of the stock underlying the option. On
Sept. 30, 1985, the Board changed the required initial margin,
allowing it to be the same as the option maintenance margin
required by the appropriate exchange or self-regulatory
organization; such maintenance margin rules must be approved
by the Securities and Exchange Commission.
1.38 FEDERAL FISCAL AND FINANCING OPERATIONS
Millions of dollars
Fiscal year
Type of account or operation 1998 1999 2000
U.S. budget (1)
1 Receipts, total 1,721,798 1,827,302 2,025,218
2 On-budget 1,305,999 1,382,986 1,544,634
3 Off-budget 415,799 444,468 480,584
4 Outlays, total 1,652,619 1,702,875 1,788,826
5 On-budget 1,336,015 1,382,097 1,458,061
6 Off-budget 316,604 320,778 330,765
7 Surplus or deficit (-), total 69,179 124,579 236,392
8 On-budget -30,016 889 86,573
9 Off-budget 99,195 123,690 149,819
Source of financing (total)
10 Borrowing from the public -51,211 -88,674 -222,672
11 Operating cash (decrease, or
increase [-]) 4,743 -17,580 3,799
12 Other (2) -22,711 -18,325 -17,519
MEMO
13 Treasury operating balance
(level, end of period) 38,878 56,458 52,659
14 Federal Reserve Banks 4,952 6,641 8,459
15 Tax and loan accounts 33,926 49,817 44,199
Calendar year
2001
Type of account or operation Feb. Mar. Apr.
U.S. budget (1)
1 Receipts, total 110,481 130,071 331,796
2 On-budget 70,555 84,120 278,611
3 Off-budget 39,926 45,951 53,185
4 Outlays, total 158,649 180,733 141,999
5 On-budget 123,573 145,182 109,938
6 Off-budget 35,076 35,550 32,062
7 Surplus or deficit (-), total -48,168 -50,662 189,796
8 On-budget -53,018 -61,062 168,673
9 Off-budget 4,850 10,401 21,123
Source of financing (total)
10 Borrowing from the public 15,100 32,557 -135,572
11 Operating cash (decrease, or
increase [-]) 45,717 -7,171 -36,846
12 Other (2) -12,649 25,276 -17,378
MEMO
13 Treasury operating balance
(level, end of period) 21,113 28,284 65,130
14 Federal Reserve Banks 4,956 5,657 7,894
15 Tax and loan accounts 16,158 22,627 57,236
Calendar year
2001
Type of account or operation May June July
U.S. budget (1)
1 Receipts, total 125,590 202,887 127,842
2 On-budget 84,759 151,482 89,473
3 Off-budget 40,831 51,405 38,369
4 Outlays, total 153,508 171,025 125,022
5 On-budget 118,517 167,796 92,145
6 Off-budget 34,992 3,229 32,877
7 Surplus or deficit (-), total -27,919 31,862 2,820
8 On-budget -33,758 -16,314 -2,672
9 Off-budget 5,839 48,176 5,492
Source of financing (total)
10 Borrowing from the public -20,608 -1,212 -7,463
11 Operating cash (decrease, or
increase [-]) 58,856 -37,413 20,589
12 Other (2) -10,329 6,763 -15,946
MEMO
13 Treasury operating balance
(level, end of period) 6,274 43,687 23,098
14 Federal Reserve Banks 4,396 7,188 5,592
15 Tax and loan accounts 1,878 36,498 17,506
(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;
fiscal year totals: U.S. Office of Management and Budget, Budget of
the U.S. Government when available.
1.39 U.S. BUDGET RECEIPTS AND OUTLAYS (1)
Millions of dollars
Fiscal year
1999
Source or type 1999 2000 H2
RECEIPTS
1 All sources 1,827,302 2,025,218 892,266
2 Individual income taxes,
net 879,480 1,004,462 425,451
3 Withheld 693,940 780,397 372,012
4 Nonwithheld 308,185 358,049 68,302
5 Refunds 122,706 134,046 14,841
Corporation income taxes
6 Gross receipts 216,324 235,655 110,111
7 Refunds 31,645 28,367 13,996
8 Social insurance taxes and
contributions, net 611,833 652,852 292,551
9 Employment taxes and
contributions (2) 580,880 620,451 280,059
10 Unemployment insurance 26,480 27,640 10,173
11 Other net receipts (3) 4,473 4,761 2,319
12 Excise taxes 70,414 68,865 34,262
13 Customs deposits 18,336 19,914 10,287
14 Estate and gift taxes 27,782 29,010 14,001
15 Miscellaneous receipts (4) 34,929 42,826 19,569
OUTLAYS
16 All types 1,702,875 1,788,826 882,465
17 National defense 274,873 294,494 149,573
18 International affairs 15,243 17,216 8,530
19 General science, space, and
technology 18,125 18,637 10,089
20 Energy 912 -1,060 -90
21 Natural resources and
environment 23,970 25,031 12,100
22 Agriculture 23,011 36,641 20,887
23 Commerce and housing credit 2,649 3,211 7,353
24 Transportation 42,531 46,854 23,199
25 Community and regional
development 11,870 10,629 6,806
26 Education, training,
employment, and social
services 56,402 59,201 27,532
27 Health 141,079 154,534 74,490
28 Social security and Medicare 580,488 606,549 295,030
29 Income security 237,707 247,895 113,504
30 Veterans benefits and services 43,212 47,083 23,412
31 Administration of justice 25,924 27,820 13,459
32 General government 15,771 13,454 7,010
33 Net interest (5) 229,735 223,218 112,420
34 Undistributed offsetting
receipts (6) -40,445 -42,581 -22,850
Calendar year
2000 2001
Source or type H1 H2 H1
RECEIPTS
1 All sources 1,089,763 952,942 1,120,040
2 Individual income taxes,
net 550,208 458,679 580,632 (r)
3 Withheld 388,526 395,572 402,417
4 Nonwithheld 281,103 77,732 308,418
5 Refunds 119,477 14,628 130,256 (r)
Corporation income taxes
6 Gross receipts 119,166 123,962 102,947
7 Refunds 13,781 15,776 20,262
8 Social insurance taxes and
contributions, net 353,514 310,122 379,878
9 Employment taxes and
contributions (2) 333,584 297,665 359,648
10 Unemployment insurance 17,562 10,097 17,842
11 Other net receipts (3) 2,368 2,360 2,387
12 Excise taxes 33,532 35,501 32,490
13 Customs deposits 9,218 10,676 9,370
14 Estate and gift taxes 15,073 13,216 15,471
15 Miscellaneous receipts (4) 22,831 16,556 19,517
OUTLAYS
16 All types 892,947 894,905 948,750
17 National defense 143,476 147,651 153,154
18 International affairs 7,250 11,902 6,522
19 General science, space, and
technology 9,601 10,389 10,073
20 Energy -893 -595 -244
21 Natural resources and
environment 10,814 12,907 11,059
22 Agriculture 11,164 20,977 10,832
23 Commerce and housing credit -2,497 4,408 -1,539
24 Transportation 21,054 25,841 23,810
25 Community and regional
development 5,050 5,962 5,265
26 Education, training,
employment, and social
services 31,234 29,263 35,698
27 Health 75,871 81,413 87,427
28 Social security and Medicare 306,966 307,473 328,072
29 Income security 133,915 113,212 146,913
30 Veterans benefits and services 23,174 22,615 23,171
31 Administration of justice 13,981 14,635 14,694
32 General government 6,198 6,461 8,887
33 Net interest (5) 115,545 104,685 107,824
34 Undistributed offsetting
receipts (6) -19,346 -24,070 -22,865
Calendar year
2001
Source or type May June July
RECEIPTS
1 All sources 125,590 202,887 127,842
2 Individual income taxes,
net 47,787 (r) 93,676 60,466
3 Withheld 63,237 53,125 65,601
4 Nonwithheld 13,753 43,804 5,029
5 Refunds 29,213 (r) 3,263 10,165
Corporation income taxes
6 Gross receipts 6,453 31,563 5,036
7 Refunds 2,000 1,617 2,328
8 Social insurance taxes and
contributions, net 61,437 66,732 52,154
9 Employment taxes and
contributions (2) 52,210 66,039 49,672
10 Unemployment insurance 8,786 344 2,128
11 Other net receipts (3) 441 349 355
12 Excise taxes 4,390 5,965 5,733
13 Customs deposits 1,501 1,571 1,755
14 Estate and gift taxes 2,465 2,058 2,099
15 Miscellaneous receipts (4) 3,559 2,939 2,926
OUTLAYS
16 All types 153,508 171,025 125,322
17 National defense 26,028 29,382 22,153
18 International affairs -1,490 2,318 413
19 General science, space, and
technology 1,892 1,821 1,642
20 Energy -25 536 -117
21 Natural resources and
environment 2,136 1,915 1,757
22 Agriculture 711 893 240
23 Commerce and housing credit -907 33 -13,479
24 Transportation 4,850 4,643 4,327
25 Community and regional
development 928 1,205 1,598
26 Education, training,
employment, and social
services 5,907 6,502 4,291
27 Health 14,954 15,768 14,094
28 Social security and Medicare 55,876 61,115 52,621
29 Income security 22,005 21,667 17,282
30 Veterans benefits and services 2,865 5,619 2,150
31 Administration of justice 2,450 2,320 2,202
32 General government 849 2,669 625
33 Net interest (5) 18,363 15,912 17,287
34 Undistributed offsetting
receipts (6) -3,882 -3,294 -3,765
(1.) Functional details do not sum to total outlays for calendar year
data because revisions to monthly totals have not been distributed
among functions. Fiscal year total for receipts and outlays do not
correspond to calendar year data because revisions from the Budget
have not been fully distributed across months.
(2.) Old-age, disability, and hospital insurance, and railroad
retirement accounts.
(3.) Federal employee retirement contributions and civil service
retirement and disability fund.
(4.) Deposits of earnings by Federal Reserve Banks and other
miscellaneous receipts.
(5.) Includes interest received by trust funds.
(6.) Rents and royalties for the outer continental shelf. U.S.
government contributions for employee retirement, and certain asset
sales.
SOURCE. Fiscal year totals: U.S. Office of Management and Budget,
Budget of the U.S. Government, Fiscal Year 2002; monthly and half-year
totals: U.S. Department of the Treasury, Monthly Treasury Statement of
Receipts and Outlays of the U.S. Government.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
1999 2000
Item June 30 Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,668 5,685 5,805 5,802
2 Public debt securities 5,639 5,656 5,776 5,773
3 Held by public 3,685 3,667 3,716 3,688
4 Held by agencies 1,954 1,989 2,061 2,085
5 Agency securities 29 29 29 28
6 Held by public 28 28 28 28
7 Held by agencies 1 1 1 0
8 Debt subject to 5,552 5,568 5,687 5,687
statutory limit
9 Public debt securities 5,552 5,568 5,687 5,686
10 Other debt (1) 0 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950 5,950
2000
Item June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 5,714 5,702 5,690
2 Public debt securities 5,686 5,674 5,662
3 Held by public 3,496 3,439 3,414
4 Held by agencies 2,190 2,236 2,249
5 Agency securities 28 28 27
6 Held by public 28 28 27
7 Held by agencies 0 0 0
8 Debt subject to 5,601 5,592 5,581
statutory limit
9 Public debt securities 5,601 5,591 5,580
10 Other debt (1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
2001
Item Mar. 31 June 30
1 Federal debt outstanding 5,801 5,754
2 Public debt securities 5,774 5,727
3 Held by public 3,434 3,274
4 Held by agencies 2,339 2,453
5 Agency securities 27 27
6 Held by public 27 27
7 Held by agencies 0 0
8 Debt subject to 5,693 5,645
statutory limit
9 Public debt securities 5,692 5,645
10 Other debt (1) 0 0
MEMO
11 Statutory debt limit 5,950 5,950
(1.) Consists of guaranteed debt of U.S. Treasury and other federal
agencies, specified participation certificates, notes to international
lending organizations, and District of Columbia stadium bonds.
SOURCE. U.S. Department of the Treasury, Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1997 1998 1999 2000
1 Total gross public debt 5,502.4 5,614.2 5,776.1 5,662.2
By type
2 Interest-bearing 5,494.9 5,605.4 5,766.1 5,618.1
3 Marketable 3,456.8 3,355.5 3,281.0 2,966.9
4 Bills 715.4 691.0 737.1 646.9
5 Notes 2,106.1 1,960.7 1,784.5 1,557.3
6 Bonds 587.3 621.2 643.7 626.5
7 Inflation-indexed notes
and bonds (1) 33.0 67.6 100.7 121.2
8 Nonmarketable (2) 2,038.1 2,249.9 2,485.1 2,651.2
9 State and local govern-
ment series 124.1 165.3 165.7 151.0
10 Foreign issues (3) 36.2 34.3 31.3 27.2
11 Government 36.2 34.3 31.3 27.2
12 Public .0 .0 .0 .0
13 Savings bonds and notes 181.2 180.3 179.4 176.9
14 Government account
series (4) 1,666.7 1,840.0 2,078.7 2,266.1
15 Non-interest-bearing 7.5 8.8 10.0 44.2
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 1,657.1 1,828.1 2,064.2 2,270.2
17 Federal Reserve Banks (6) 430.7 452.1 478.0 511.7
18 Private investors 3,414.6 3,334.0 3,233.9 2,880.4
19 Depository institutions 300.3 237.3 246.4 199.1
20 Mutual funds 321.5 343.3 348.4 338.7
21 Insurance companies 176.6 141.7 123.4 110.2
22 State and local treasuries
(7) 239.3 269.3 266.8 236.2
Individuals
23 Savings bonds 186.5 186.6 186.4 184.8
24 Pension funds 360.5 356.8 349.7 333.4
25 Private 143.5 139.1 138.5 137.7
26 State and local 216.9 217.7 211.2 195.7
27 Foreign and international
(8) 1,241.6 1,278.7 1,268.7 1,201.3
28 Other miscellaneous
investors (7,9) 589.5 499.0 412.8 145
2000 2001
Type and holder Q3 Q4 Q1 Q2
1 Total gross public debt 5,674.2 5,662.2 5,773.7 5,726.8
By type
2 Interest-bearing 5,622.1 5,618.1 5,752.0 5,682.8
3 Marketable 2,992.8 2,966.9 2,981.9 2,822.3
4 Bills 616.2 646.9 712.0 620.1
5 Notes 1,611.3 1,557.3 1,499.0 1,441.0
6 Bonds 635.3 626.5 627.9 616.9
7 Inflation-indexed notes
and bonds (1) 115.0 121.2 128.0 129.3
8 Nonmarketable (2) 2,629.3 2,651.2 2,770.0 2,860.5
9 State and local govern-
ment series 153.3 151.0 152.9 153.3
10 Foreign issues (3) 25.4 27.2 24.7 24.0
11 Government 25.4 27.2 24.7 24.0
12 Public .0 .0 .0 .0
13 Savings bonds and notes 177.7 176.9 177.4 178.4
14 Government account
series (4) 2,242.9 2,266.1 2,360.3 2,474.7
15 Non-interest-bearing 52.1 44.2 46.5 44.0
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 2,226.5 2,270.2 2,357.0 2,469.1
17 Federal Reserve Banks (6) 511.4 511.7 523.9 535.1
18 Private investors 2,936.2 2,880.4 2,892.9 2,722.6
19 Depository institutions 218.3 199.1 187.3 192.2
20 Mutual funds 324.3 338.7 348.8 352.4
21 Insurance companies 113.8 110.2 101.9 92.9
22 State and local treasuries
(7) 241.9 236.2 224 216.5
Individuals
23 Savings bonds 184.3 184.8 184.8 186
24 Pension funds 340.4 333.4 326.5 230.2
25 Private 139.7 137.7 131.2 129.2
26 State and local 200.7 195.7 195.3 191
27 Foreign and international
(8) 1,224.9 1,201.3 1,196.1 1,167.1
28 Other miscellaneous
investors (7,9) 235.1 145 250.9 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 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,
week
2001 ending
Item Apr. May June May 30
OUTRIGHT TRANSACTIONS
By type of security
1 U.S. Treasury bills 32,414 23,093 26,141 34,425
Treasury coupon securities
by maturity
2 Three years or less n.a. n.a. n.a. n.a.
3 More than three but less
than or equal to six
years n.a. n.a. n.a. n.a.
4 More than six but less
than or equal to eleven
years n.a. n.a. n.a. n.a.
5 More than eleven n.a. n.a. n.a. n.a.
6 Inflation-indexed (2) 1,847 1,833 1,384 1,633
Federal agency and govern-
ment-sponsored enter-
prises
7 Discount notes 61,242 55,738 53,216 56,532
Coupon securities by
maturity
8 Three years or less n.a. n.a. n.a. n.a.
9 More than three but less
than or equal to six
years n.a. n.a. n.a. n.a.
10 More than six but less
than or equal to eleven
years n.a. n.a. n.a. n.a.
11 More than eleven n.a. n.a. n.a. n.a.
12 Mortgage-backed 107,684 100,310 96,113 72,304
Corporate securities
13 One year or less n.a. n.a. n.a. n.a.
14 More than one year n.a. n.a. n.a. n.a.
By type of counterparty
With interdealer broker
15 U.S. Treasury 152,513 151,800 130,715 144,299
16 Federal agency and
government-sponsored
enterprise 12,924 12,451 14,142 10,856
17 Mortgage-backed 34,441 32,101 30,517 26,367
18 Corporate n.a. n.a. n.a. n.a.
With other
19 U.S. Treasury 145,077 142,180 129,696 136,662
20 Federal agency and
government-sponsored
enterprise 75,208 70,798 70,510 69,211
21 Mortgage-backed 73,244 68,209 65,596 45,937
22 Corporate n.a. n.a. n.a. n.a.
2001, week ending
Item June 6 June 13 June 20 June 27
OUTRIGHT TRANSACTIONS
By type of security
1 U.S. Treasury bills 34,861 19,936 26,042 23,775
Treasury coupon securities
by maturity
2 Three years or less n.a. n.a. n.a. n.a.
3 More than three but less
than or equal to six
years n.a. n.a. n.a. n.a.
4 More than six but less
than or equal to eleven
years n.a. n.a. n.a. n.a.
5 More than eleven n.a. n.a. n.a. n.a.
6 Inflation-indexed (2) 974 1,532 1,048 1,542
Federal agency and govern-
ment-sponsored enter-
prises
7 Discount notes 51,465 44,842 56,196 56,276
Coupon securities by
maturity
8 Three years or less n.a. n.a. n.a. n.a.
9 More than three but less
than or equal to six
years n.a. n.a. n.a. n.a.
10 More than six but less
than or equal to eleven n.a. n.a. n.a. n.a.
years
11 More than eleven n.a. n.a. n.a. n.a.
12 Mortgage-backed 108,791 137,587 80,404 69,699
Corporate securities
13 One year or less n.a. n.a. n.a. n.a.
14 More than one year n.a. n.a. n.a. n.a.
By type of counterparty
With interdealer broker
15 U.S. Treasury 135,599 115,835 129,802 137,422
16 Federal agency and
government-sponsored
enterprise 14,572 14,838 14,236 14,597
17 Mortgage-backed 34,030 38,899 26,013 28,115
18 Corporate n.a. n.a. n.a. n.a.
With other
19 U.S. Treasury 150,441 103,960 120,638 132,829
20 Federal agency and
government-sponsored
enterprise 67,554 60,977 75,087 73,238
21 Mortgage-backed 74,761 98,689 54,392 41,585
22 Corporate n.a. n.a. n.a. n.a.
2001, week ending
Item July 4 July 11 July 18 July 25
OUTRIGHT TRANSACTIONS
By type of security
1 U.S. Treasury bills 30,377 27,768 29,590 23,622
Treasury coupon securities
by maturity
2 Three years or less 118,453 91,633 97,837 86,805
3 More than three but less
than or equal to six
years 83,923 64,438 63,566 58,615
4 More than six but less
than or equal to eleven
years 58,180 46,626 51,906 54,098
5 More than eleven 17,804 14,140 16,488 16,533
6 Inflation-indexed (2) 2,284 4,228 2,020 1,485
Federal agency and govern-
ment-sponsored enter-
prises
7 Discount notes 62,549 51,438 59,603 53,512
Coupon securities by
maturity
8 Three years or less 12,880 11,104 10,384 12,218
9 More than three but less
than or equal to six
years 8,360 10,663 6,535 5,842
10 More than six but less
than or equal to eleven 7,640 4,612 8,647 6,589
years
11 More than eleven 736 458 1,192 1,332
12 Mortgage-backed 72,376 141,762 94,954 66,830
Corporate securities
13 One year or less 85,207 78,254 77,765 69,968
14 More than one year 17,686 10,464 14,028 18,994
By type of counterparty
With interdealer broker
15 U.S. Treasury 143,664 120,382 124,550 111,000
16 Federal agency and
government-sponsored
enterprise 10,174 8,839 11,428 9,803
17 Mortgage-backed 19,806 35,719 25,910 24,016
18 Corporate 2,036 509 878 1,116
With other
19 U.S. Treasury 167,355 128,451 136,857 130,158
20 Federal agency and
government-sponsored
enterprise 81,991 69,436 74,933 69,689
21 Mortgage-backed 52,570 106,043 69,044 42,814
22 Corporate 100,856 88,209 90,914 87,846
(1.) The figures represent purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Reserve Bank of New York. Outright transactions include all U.S.
government, federal agency, government-sponsored enterprise,
mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as all U.S. Government securities traded on
a when-issued basis between the announcement and issue date. Data do
not include transactions under repurchase and reverse repurchase
(resale) agreements. Averages are based on the number of trading days
in the week.
(2.) Outright Treasury inflation-indexed securities (TIIS) transactions
are reported at principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
for inflation) times the price times the index ratio.
Note: Major changes in the report form filed by primary dealers
induced a break in the dealer data series as of the week ending
July 4, 2001. Current weekly data may be found at the Federal Reserve
Bank of New York web site (http://www.newyorkfed.org/pihome/statistics)
under the Primary Dealer heading.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2001
Item Apr. May June
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 30,544 -332 3,445
Treasury coupon securities by
maturity
2 Three years or less n.a. n.a. n.a.
3 More than three but less than
or equal to six years n.a. n.a. n.a.
4 More than six but less than or
equal to eleven years n.a. n.a. n.a.
5 More than eleven n.a. n.a. n.a.
6 Inflation-indexed 4,196 4,128 3,491
Federal agency and government-
sponsored enterprise
securities
7 Discount notes 49,374 51,428 55,075
Coupon securities by maturity
8 Three years or less n.a. n.a. n.a.
9 More than three but less than
or equal to six years n.a. n.a. n.a.
10 More than six but less than
or equal to eleven years n.a. n.a. n.a.
11 More than eleven n.a. n.a. n.a.
12 Mortgage-backed 12,181 16,811 17,928
Corporate securities
13 One year or less n.a. n.a. n.a.
14 More than one year n.a. n.a. n.a.
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and continuing n.a. n.a. n.a.
16 Term n.a. n.a. n.a.
Federal agency and government-
sponsored enterprises
17 Overnight and continuing n.a. n.a. n.a.
18 Term n.a. n.a. n.a.
Mortgage-backed securities
19 Overnight and continuing n.a. n.a. n.a.
20 Term n.a. n.a. n.a.
Corporate securities
21 Overnight and continuing n.a. n.a. n.a.
22 Term n.a. n.a. n.a.
MEMO: Repurchase agreements
23 Overnight and continuing 366,382 383,190 365,246
24 Term 925,786 953,256 1,031,773
Securities out
U.S. Treasury
25 Overnight and continuing n.a. n.a. n.a.
26 Term n.a. n.a. n.a.
Federal agency and government-
sponsored enterprises
27 Overnight and continuing n.a. n.a. n.a.
28 Term n.a. n.a. n.a.
Mortgage-backed securities
29 Overnight and continuing n.a. n.a. n.a.
30 Term n.a. n.a. n.a.
Corporate securities
31 Overnight and continuing n.a. n.a. n.a.
32 Term n.a. n.a. n.a.
MEMO: Reverse repurchase agree-
ments
33 Overnight and continuing 869,117 865,375 890,043
34 Term 852,132 877,681 934,264
2001, week ending
Item May 30 June 6 June 13
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 590 9,269 4,271
Treasury coupon securities by
maturity
2 Three years or less n.a. n.a. n.a.
3 More than three but less than
or equal to six years n.a. n.a. n.a.
4 More than six but less than or
equal to eleven years n.a. n.a. n.a.
5 More than eleven n.a. n.a. n.a.
6 Inflation-indexed 3,762 4,181 3,120
Federal agency and government-
sponsored enterprise
securities
7 Discount notes 56,934 55,382 61,718
Coupon securities by maturity
8 Three years or less n.a. n.a. n.a.
9 More than three but less than
or equal to six years n.a. n.a. n.a.
10 More than six but less than
or equal to eleven years n.a. n.a. n.a.
11 More than eleven n.a. n.a. n.a.
12 Mortgage-backed 21,585 20,369 17,004
Corporate securities
13 One year or less n.a. n.a. n.a.
14 More than one year n.a. n.a. n.a.
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and continuing n.a. n.a. n.a.
16 Term n.a. n.a. n.a.
Federal agency and government-
sponsored enterprises
17 Overnight and continuing n.a. n.a. n.a.
18 Term n.a. n.a. n.a.
Mortgage-backed securities
19 Overnight and continuing n.a. n.a. n.a.
20 Term n.a. n.a. n.a.
Corporate securities
21 Overnight and continuing n.a. n.a. n.a.
22 Term n.a. n.a. n.a.
MEMO: Repurchase agreements
23 Overnight and continuing 383,646 387,199 374,728
24 Term 973,678 1,001,600 1,024,000
Securities out
U.S. Treasury
25 Overnight and continuing n.a. n.a. n.a.
26 Term n.a. n.a. n.a.
Federal agency and government-
sponsored enterprises
27 Overnight and continuing n.a. n.a. n.a.
28 Term n.a. n.a. n.a.
Mortgage-backed securities
29 Overnight and continuing n.a. n.a. n.a.
30 Term n.a. n.a. n.a.
Corporate securities
31 Overnight and continuing n.a. n.a. n.a.
32 Term n.a. n.a. n.a.
MEMO: Reverse repurchase agree-
ments
33 Overnight and continuing 852,035 900,477 899,998
34 Term 895,796 915,611 934,305
2001, week ending
Item June 20 June 27 July 4
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills -485 -15 7,110
Treasury coupon securities by
maturity
2 Three years or less n.a. n.a. -16,969
3 More than three but less than
or equal to six years n.a. n.a. -15,221
4 More than six but less than or
equal to eleven years n.a. n.a. -16,118
5 More than eleven n.a. n.a. 10,239
6 Inflation-indexed 3,439 3,770 2,451
Federal agency and government-
sponsored enterprise
securities
7 Discount notes 54,516 48,710 55,120
Coupon securities by maturity
8 Three years or less n.a. n.a. 23,625
9 More than three but less than
or equal to six years n.a. n.a. -3,096
10 More than six but less than
or equal to eleven years n.a. n.a. 2,472
11 More than eleven n.a. n.a. 4,190
12 Mortgage-backed 17,128 19,231 14,027
Corporate securities
13 One year or less n.a. n.a. 16,541
14 More than one year n.a. n.a. 23,106
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and continuing n.a. n.a. 510,993
16 Term n.a. n.a. 711,949
Federal agency and government-
sponsored enterprises
17 Overnight and continuing n.a. n.a. 110,263
18 Term n.a. n.a. 159,641
Mortgage-backed securities
19 Overnight and continuing n.a. n.a. 20,813
20 Term n.a. n.a. 197,977
Corporate securities
21 Overnight and continuing n.a. n.a. 34,229
22 Term n.a. n.a. 14,179
MEMO: Repurchase agreements
23 Overnight and continuing 360,779 354,160 335,502
24 Term 1,055,391 1,072,853 959,291
Securities out
U.S. Treasury
25 Overnight and continuing n.a. n.a. 482,344
26 Term n.a. n.a. 665,178
Federal agency and government-
sponsored enterprises
27 Overnight and continuing n.a. n.a. 192,185
28 Term n.a. n.a. 137,932
Mortgage-backed securities
29 Overnight and continuing n.a. n.a. 222,096
30 Term n.a. n.a. 117,555
Corporate securities
31 Overnight and continuing n.a. n.a. 77,335
32 Term n.a. n.a. 15,523
MEMO: Reverse repurchase agree-
ments
33 Overnight and continuing 903,325 879,205 840,245
34 Term 958,305 979,348 808,711
2001, week ending
Item July 11 July 18
NET OUTRIGHT
POSITIONS (2)
By type of security
1 U.S. Treasury bills 7,016 3,630
Treasury coupon securities by
maturity
2 Three years or less -17,242 -17,252
3 More than three but less than
or equal to six years -18,066 -17,139
4 More than six but less than or
equal to eleven years -18,140 -18,931
5 More than eleven 9,644 10,399
6 Inflation-indexed 1,872 2,179
Federal agency and government-
sponsored enterprise
securities
7 Discount notes 49,408 51,532
Coupon securities by maturity
8 Three years or less 26,986 22,279
9 More than three but less than
or equal to six years -458 -1,020
10 More than six but less than
or equal to eleven years 2,849 5,099
11 More than eleven 4,063 3,854
12 Mortgage-backed 8,874 10,645
Corporate securities
13 One year or less 14,244 15,221
14 More than one year 26,100 26,716
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and continuing 534,843 532,146
16 Term 722,028 746,996
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 111,565 108,715
18 Term 165,053 162,392
Mortgage-backed securities
19 Overnight and continuing 23,216 21,796
20 Term 199,037 195,696
Corporate securities
21 Overnight and continuing 34,131 34,851
22 Term 13,428 13,286
MEMO: Repurchase agreements
23 Overnight and continuing 353,063 342,573
24 Term 992,190 1,001,645
Securities out
U.S. Treasury
25 Overnight and continuing 533,787 524,882
26 Term 657,251 678,441
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 215,948 218,060
28 Term 117,200 119,367
Mortgage-backed securities
29 Overnight and continuing 242,794 259,777
30 Term 95,570 99,190
Corporate securities
31 Overnight and continuing 80,130 83,145
32 Term 9,349 9,893
MEMO: Reverse repurchase agree-
ments
33 Overnight and continuing 941,099 962,203
34 Term 854,252 888,912
(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 involving 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 used as pledged securities are
reported at par value, which is the value of the security at original
issuance (unadjusted for inflation).
Note. Major changes in the report form filed by primary dealers
included a break in many series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http://www.newyorkfed.org/pihome/statistics) under
the Primary Dealer heading.
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1997 1998 1999
1 Federal and federally sponsored
agencies 1,022,609 1,296,477 1,616,492
2 Federal agencies 27,792 26,502 26,376
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) 552 n.a. n.a.
5 Federal Housing Administration
(4) 102 205 126
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 27,786 26,496 26,370
9 United States Railway Asso-
ciation (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 994,817 1,269,975 1,590,116
11 Federal Home Loan Banks 313,919 382,131 529,005
12 Federal Home Loan Mortgage
Corporation 169,200 287,396 360,711
13 Federal National Mortgage
Association 369,774 460,291 547,619
14 Farm Credit Banks (8) 63,517 63,488 68,883
15 Student Loan Marketing
Association (9) 37,717 35,399 41,988
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) 49,090 44,129 42,152
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) 552 n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 13,530 9,500 6,665
26 Rural Electrification Adminis-
tration 14,898 14,091 14,085
27 Other 20,110 20,538 21,402
2001
Agency 2000 Jan. Feb.
1 Federal and federally sponsored
agencies 1,851,632 n.a. 1,917,503
2 Federal agencies 25,666 25,426 25,141
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 255 275 291
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,660 25,420 25,135
9 United States Railway Asso-
ciation (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,825,966 1,873,199 1,892,362
11 Federal Home Loan Banks 594,404 604,904 598,586
12 Federal Home Loan Mortgage
Corporation 426,899 446,997 455,623
13 Federal National Mortgage
Association 642,700 654,200 668,200
14 Farm Credit Banks (8) 74,181 73,925 73,647
15 Student Loan Marketing
Association (9) 45,375 50,669 53,886
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) 40,575 39,348 38,924
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 5,275 5,155 5,155
26 Rural Electrification Adminis-
tration 13,126 13,197 13,281
27 Other 22,174 20,996 20,488
2001
Agency Mar. Apr. May
1 Federal and federally sponsored
agencies 1,919,761 n.a. n.a.
2 Federal agencies 25,063 25,024 n.a.
3 Defense Department (1) 6 6 n.a.
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing Administration
(4) 307 315 n.a.
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,057 25,018 n.a.
9 United States Railway Asso-
ciation (6) n.a. n.a. n.a.
10 Federally sponsored agencies (7) 1,894,698 n.a. n.a.
11 Federal Home Loan Banks 602,824 595,562 n.a.
12 Federal Home Loan Mortgage
Corporation 461,338 478,447 490,442
13 Federal National Mortgage
Association 666,600 682,500 693,600
14 Farm Credit Banks (8) 74,174 74,456 75,363
15 Student Loan Marketing
Association (9) 47,322 48,468 48,255
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) 39,341 39,065 n.a.
Lending to federal and federally
sponsored agencies
20 Export-Import Bank (3) n.a. n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 5,155 5,155 n.a.
26 Rural Electrification Adminis-
tration 13,371 13,371 n.a.
27 Other 20,815 20,539 n.a.
(1.) Consists of mortgages assumed by the Defense Department between
1957 and 1963 under family housing and homeowners assistance programs.
(2.) Includes participation certificates reclassified as debt beginning
Oct. 1, 1976.
(3.) On-budget since Sept. 30, 1976.
(4.) Consists of debentures issued in payment of Federal Housing
Administration insurance claims. Once issued, these securities may be
sold privately on the securities market.
(5.) Certificates of participation issued before fiscal year 1969 by
the Government National Mortgage Association acting as trustee for the
Farmers Home Administration; the Department of Health, Education, and
Welfare; the Department of Housing and Urban Development; the Small
Business Administration; and the Veterans Administration.
(6.) Off-budget.
(7.) Includes outstanding noncontingent liabilities: notes, bonds, and
debentures. Includes Federal Agricultural Mortgage Corporation;
therefore, details do not sum to total. Some data are estimated.
(8.) Excludes borrowing by the Farm Credit Financial Assistance
Corporation, which is shown on line 17.
(9.) Before late 1982, the association obtained financing through the
Federal Financing Bank (FFB). Borrowing excludes that obtained from the
FFB, which is shown on line 22.
(10.) The Financing Corporation, established in August 1987 to
recapitalize the Federal Savings and Loan Insurance Corporation,
undertook its first borrowing in October 1987.
(11). The Farm Credit Financial Assistance Corporation, established in
January 1988 to provide assistance to the Farm Credit System, undertook
its first borrowing in July 1988.
(12.) The Resolution Funding Corporation, established by the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989, undertook
its first borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to
purchase or sell obligations issued, sold, or guaranteed by other
federal agencies. Because FFB incurs debt solely for the purpose of
lending to other agencies, its debt is not included in the main portion
of the table to avoid double counting.
(14.) Includes FFB purchases of agency assets and guaranteed loans; the
latter are loans guaranteed by numerous agencies, with the amounts
guaranteed by any one agency generally being small. The Farmers Home
Administration entry consists exclusively of agency assets, whereas
the Rural Electrification Administration entry consists of both
agency assets and guaranteed loans.
1.45 NEW SECURITY ISSUES Tax-Exempt State and Local Governments
Millions of dollars
2000
Type of issue or issuer,
or use
1998 1999 2000 Dec.
1 All issues, new and
refunding (1) 262,342 215,427 180,403 15,348
By type of issue
2 General obligation 87,015 73,308 64,475 5,060
3 Revenue 175,327 142,120 115,928 10,288
By type of issuer
4 State 23,506 16,376 19,944 1,640
5 Special district or
statutory authority (2) 178,421 152,418 111,695 1,053
6 Municipality, county, or
township 60,173 46,634 39,273 3,165
7 Issues for new capital 160,568 161,065 154,257 13,286
By use of proceeds
8 Education 36,904 36,563 38,665 2,919
9 Transportation 19,926 17,394 19,730 1,381
10 Utilities and conservation 21,037 15,098 11,917 1,307
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 8,594 9,099 7,122 615
13 Other purposes 42,450 47,896 47,309 4,264
2001
Type of issue or issuer,
or use
Jan. Feb. Mar. Apr.
1 All issues, new and
refunding (1) 11,255 19,829 24,495 16,985
By type of issue
2 General obligation 6,256 9,389 7,668 6,890
3 Revenue 4,999 10,441 16,827 10,094
By type of issuer
4 State 1,738 3,268 1,893 1,900
5 Special district or
statutory authority (2) 7,061 11,011 17,280 113,344
6 Municipality, county, or
township 2,456 5,550 5,323 3,740
7 Issues for new capital 8,758 13,384 15,387 12,264
By use of proceeds
8 Education 2,786 3,102 5,343 3,731
9 Transportation 780 2,411 1,219 1,381
10 Utilities and conservation 678 1,335 1,677 1,447
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 63 281 396 436
13 Other purposes 3,013 4,742 4,368 3,010
2001
Type of issue or issuer,
or use
May June July
1 All issues, new and
refunding (1) 26,248 29,298 19,232
By type of issue
2 General obligation 8,385 9,691 5,836
3 Revenue 17,863 19,606 13,396
By type of issuer
4 State 3,123 2,905 2,029
5 Special district or
statutory authority (2) 17,281 20,672 11,784
6 Municipality, county, or
township 5,845 5,721 5,419
7 Issues for new capital 20,002 20,044 15,015
By use of proceeds
8 Education 5,714 6,460 3,379
9 Transportation 2,522 1,258 3,160
10 Utilities and conservation 2,969 3,191 1,055
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 422 443 508
13 Other purposes 4,736 5,047 3,803
(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
2000
Type of issue, offering,
or issuer 1998 1999 2000
Nov.
1 All issues (1) 1,128,491 1,072,866 942,198 95,595
2 Bonds (2) 1,001,736 941,298 807,281 84,094
By type of offering
3 Sold in the United States 923,771 818,683 684,484 76,383
4 Sold abroad 77,965 122,615 122,798 7,712
MEMO
5 Private placements,
domestic n.a. n.a. n.a. 5,534
By industry group
6 Nonfinancial 307,711 293,963 242,452 25,784
7 Financial 694,025 647,335 564,829 58,310
8 Stocks (3) 182,055 223,968 283,717 23,901
By type of offering
9 Public 126,755 131,568 134,917 11,501
10 Private placement (4) 55,300 92,400 148,800 12,400
By industry group
11 Nonfinancial 74,113 110,284 118,369 10,794
12 Financial 52,642 21,284 16,548 707
2000 2001
Type of issue, offering,
or issuer
Dec. Jan. Feb. Mar.
1 All issues (1) 61,378 125,894 96,206 139,267
2 Bonds (2) 58,713 118,372 88,806 127,956
By type of offering
3 Sold in the United States 57,189 115,583 86,146 118,779
4 Sold abroad 1,525 2,789 2,660 9,177
MEMO
5 Private placements,
domestic 3,709 26 1,897 652
By industry group
6 Nonfinancial 18,219 44,443 34,604 44,385
7 Financial 40,495 73,928 54,201 83,571
8 Stocks (3) 15,065 7,522 7,400 11,311
By type of offering
9 Public 2,665 7,522 7,400 11,311
10 Private placement (4) 12,400 n.a. n.a. n.a.
By industry group
11 Nonfinancial 2,146 4,356 4,463 7,718
12 Financial 519 3,166 2,937 3,593
2001
Type of issue, offering,
or issuer
Apr. May June
1 All issues (1) 92,778 164,563 (r) 123,742
2 Bonds (2) 86,274 154,623 102,476
By type of offering
3 Sold in the United States 81,156 146,164 96,382
4 Sold abroad 5,117 8,459 6,094
MEMO
5 Private placements,
domestic 0 2,563 3,146
By industry group
6 Nonfinancial 33,549 67,142 34,996
7 Financial 52,725 87,481 67,480
8 Stocks (3) 6,504 9,940 (r) 20,240
By type of offering
9 Public 6,504 9,940 (r) 20,240
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,822 6,809 16,573
12 Financial 1,682 3,131 (r) 3,667
(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
2000 2001
Item 1999 2000
Dec. Jan.
1 Sales of own
shares (2) 1,791,894 2,279,315 170,255 206,765
2 Redemptions of own
shares 1,621,987 2,057,277 160,918 171,819
3 Net sales (3) 169,906 222,038 9,337 34,946
4 Assets (4) 5,233,191 5,123,747 5,123,747 5,280,222
5 Cash (5) 219,189 277,386 277,386 280,472
6 Other 5,014,002 4,846,361 4,846,361 4,999,750
2001
Item
Feb. Mar. Apr.
1 Sales of own
shares (2) 148,362 162,548 152,327
2 Redemptions of own
shares 141,663 175,633 130,454
3 Net sales (3) 6,699 -13,085 21,873
4 Assets (4) 4,879,229 4,594,182 4,910,568
5 Cash (5) 274,077 241,518 247,169
6 Other 4,605,152 4,352,664 4,663,399
2001
Item
May June (r) July
1 Sales of own
shares (2) 158,361 139,270 138,421
2 Redemptions of own
shares 132,574 125,097 129,022
3 Net sales (3) 25,787 14,173 9,399
4 Assets (4) 4,956,982 4,888,874 4,825,083
5 Cash (5) 237,487 240,199 240,262
6 Other 4,719,495 4,648,675 4,584,821
(1.) Data include stock, hybrid, and bond mutual funds and exclude
money market mutual funds.
(2.) Excludes reinvestment of net income dividends and capital gains
distributions and share issue of conversions from one fund to another
in the same group.
(3.) Excludes sales and redemptions resulting from transfers of shares
into or out of money market mutual funds within the same fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term debt
securities.
SOURCE. Investment Company Institute. Data based on reports of
membership, which comprises substantially all open-end investment
companies registered with the Securities and Exchange Commission. Data
reflect underwritings of newly formed companies after their initial
offering of securities.
1.48 CORPORATE PROFITS AND THEIR DISTRIBUTION
Billions of dollars; quarterly data at seasonally adjusted annual rates
1999
Account 1998 1999 2000
Q3 Q4
1 Profits with
inventory
valuation and
capital
consumption
adjustment 777.4 825.2 876.4 800.2 857.6
2 Profits before taxes 721.1 776.3 845.4 765.8 825.0
3 Profits-tax liability 238.8 253.0 271.4 250.7 267.3
4 Profits after taxes 482.3 523.3 573.9 515.1 557.7
5 Dividends 348.7 343.5 379.6 342.2 349.6
6 Undistributed
profits 133.6 179.8 194.3 172.9 208.1
7 Inventory valuation 18.3 -2.9 -12.4 -17.7 -21.0
8 Capital consumption
adjustment 38.0 51.7 43.4 52.1 53.6
2000 2001
Account
Q1 Q2 Q3 Q4 Q1 Q2
1 Profits with
inventory
valuation and
capital
consumption
adjustment 870.3 892.8 895.0 847.6 789.8 n.a.
2 Profits before taxes 844.9 862.0 858.3 816.5 755.7 n.a.
3 Profits-tax liability 277.0 280.4 274.9 253.5 236.8 n.a.
4 Profits after taxes 567.8 581.6 583.4 563.0 518.9 n.a.
5 Dividends 361.5 373.7 386.2 397.0 405.2 412.3
6 Undistributed
profits 206.3 207.9 197.2 165.9 113.7 n.a.
7 Inventory valuation -23.8 -14.8 -3.6 -7.3 -1.9 n.a.
8 Capital consumption
adjustment 49.2 45.5 40.4 38.4 36.0 31.8
SOURCE. U.S. Department of Commerce, Survey of Current Business.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities (1)
Billions of dollars, end of period; not seasonally adjusted
1999
Account 1998 1999 2000
Q4
ASSETS
1 Accounts receivable,
gross (2) 711.7 811.5 915.6 811.5
2 Consumer 261.8 279.8 296.1 279.8
3 Business 347.5 405.2 471.1 405.2
4 Real estate 102.3 126.5 148.3 126.5
5 LESS: Reserves for unearned
income 56.3 53.5 60.0 53.5
6 Reserves for losses 13.8 13.5 15.1 13.5
7 Accounts receivable, net 641.6 744.6 840.5 744.6
8 All other 337.9 406.3 461.8 406.3
9 Total assets 979.5 1,150.9 1,302.4 1,150.9
LIABILITIES AND CAPITAL
10 Bank loans 26.3 35.1 35.6 35.1
11 Commercial paper 231.5 227.9 235.2 227.9
Debt
12 Owed to parent 61.8 123.8 146.5 123.8
13 Not elsewhere classified 339.7 397.0 463.8 397.0
14 All other liabilities 203.2 222.7 279.7 222.7
15 Capital, surplus, and
undivided profits 117.0 144.5 141.6 144.5
16 Total liabilities and
capital 979.5 1,150.9 1,302.4 1,150.9
2000
Account
Q1 Q2 (r) Q3 Q4
ASSETS
1 Accounts receivable,
gross (2) 848.7 884.4 900.1 915.6
2 Consumer 285.4 294.1 301.9 296.1
3 Business 434.6 454.1 455.7 471.1
4 Real estate 128.8 136.2 142.4 148.3
5 LESS: Reserves for unearned
income 54.0 57.0 58.8 60.0
6 Reserves for losses 14.0 14.4 14.2 15.1
7 Accounts receivable, net 780.7 813.1 827.1 840.5
8 All other 412.7 419.4 441.4 461.8
9 Total assets 1,193.4 1,232.4 1,268.4 1,302.4
LIABILITIES AND CAPITAL
10 Bank loans 28.5 33.3 35.4 35.6
11 Commercial paper 230.2 234.2 215.6 235.2
Debt
12 Owed to parent 145.1 136.8 144.3 146.5
13 Not elsewhere classified 412.0 445.1 465.5 463.8
14 All other liabilities 247.6 249.6 269.2 279.7
15 Capital, surplus, and
undivided profits 130.1 135.3 138.3 141.6
16 Total liabilities and
capital 1,193.4 1,234.4 1,268.4 1,302.4
2001
Account
Q1 (r) Q2
ASSETS
1 Accounts receivable,
gross (2) 910.7 929.9
2 Consumer 287.2 290.7
3 Business 471.7 481.8
4 Real estate 151.8 157.4
5 LESS: Reserves for unearned
income 60.2 61.9
6 Reserves for losses 15.6 16.0
7 Accounts receivable, net 834.9 852.0
8 All other 475.5 486.2
9 Total assets 1,310.4 1,338.2
LIABILITIES AND CAPITAL
10 Bank loans 41.4 45.2
11 Commercial paper 178.2 177.3
Debt
12 Owed to parent 138.4 145.9
13 Not elsewhere classified 501.8 504.6
14 All other liabilities 299.7 309.8
15 Capital, surplus, and
undivided profits 150.8 155.5
16 Total liabilities and
capital 1,310.4 1,338.2
(1.) Includes finance company subsidiaries of bank holding companies
but not of retailers and banks. Data are amounts carried on the
balance sheets of finance companies; securitized pools are not shown,
as they are not on the books.
(2.) Before deduction for unearned income and losses. Excludes pools
of securitized assets.
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables (1)
Billions of dollars, amounts outstanding
Type of credit 1998 1999 2000
Seasonally adjusted
1 Total 875.8 993.9 1,145.2
2 Consumer 352.8 385.3 439.3
3 Real estate 131.4 154.7 174.9
4 Business 391.6 453.9 531.0
Not seasonally adjusted
5 Total 884.0 1,003.2 1,156.0
6 Consumer 356.1 388.8 443.4
7 Motor vehicles loans 103.1 114.7 122.5
8 Motor vehicle leases 93.3 98.3 102.9
9 Revolving (2) 32.3 33.8 38.3
10 Other (3) 33.1 33.1 32.4
Securitized assets (4)
11 Motor vehicle loans 54.8 71.1 97.1
12 Motor vehicle leases 12.7 9.7 6.6
13 Revolving 8.7 10.5 27.5
14 Other 18.1 17.7 16.0
15 Real estate 131.4 154.7 174.9
16 One- to four-family 75.7 88.3 105.4
17 Other 26.6 38.3 42.9
Securitized real estate
assets (4)
18 One- to four-family 29.0 28.0 24.7
19 Other .1 .2 1.9
20 Business 396.5 459.6 537.7
21 Motor vehicles 79.6 87.8 95.2
22 Retail loans 28.1 33.2 31.0
23 Wholesale loans (5) 32.8 34.7 39.6
24 Leases 18.7 19.9 24.6
25 Equipment 198.0 221.9 267.3
26 Loans 50.4 52.2 56.2
27 Leases 147.6 169.7 211.1
28 Other business
receivables (6) 69.9 95.5 108.6
Securitized assets (4)
29 Motor vehicles 29.2 31.5 37.8
30 Retail loans 2.6 2.9 3.2
31 Wholesale loans 24.7 26.4 32.5
32 Leases 1.9 2.1 2.2
33 Equipment 13.0 14.6 23.1
34 Loans 6.6 7.9 15.5
35 Leases 6.4 6.7 7.6
36 Other business receivables
(6) 6.8 8.4 5.6
2001
Type of credit
Jan. Feb. Mar.
Seasonally adjusted
1 Total 1,156.7 1,159.7 1,158.6 (r)
2 Consumer 443.8 447.1 449.8 (r)
3 Real estate 177.7 179.0 177.7
4 Business 535.2 533.6 531.1
Not seasonally adjusted
5 Total 1,156.7 1,159.7 1,163.1 (r)
6 Consumer 443.9 445.1 445.7 (r)
7 Motor vehicles loans 117.5 118.5 118.9 (r)
8 Motor vehicle leases 103.3 102.4 101.3
9 Revolving (2) 37.1 36.9 35.6
10 Other (3) 32.4 32.0 31.3
Securitized assets (4)
11 Motor vehicle loans 103.9 105.2 108.1
12 Motor vehicle leases 6.3 6.9 6.6
13 Revolving 27.6 27.6 27.6
14 Other 15.8 15.5 16.2
15 Real estate 177.7 179.0 177.7
16 One- to four-family 108.2 109.5 108.1
17 Other 43.2 43.4 43.8
Securitized real estate
assets (4)
18 One- to four-family 24.4 24.2 23.9
19 Other 1.9 1.9 1.9
20 Business 535.1 535.6 539.7
21 Motor vehicles 93.6 93.6 91.9
22 Retail loans 30.8 30.7 30.5
23 Wholesale loans (5) 38.2 37.6 35.8
24 Leases 24.6 25.3 25.6
25 Equipment 265.6 262.5 264.6
26 Loans 56.3 55.6 57.1
27 Leases 209.3 206.9 207.5
28 Other business
receivables (6) 110.4 114.5 115.2
Securitized assets (4)
29 Motor vehicles 37.3 37.2 40.0
30 Retail loans 3.1 2.9 2.8
31 Wholesale loans 32.1 31.7 34.5
32 Leases 2.2 2.6 2.6
33 Equipment 22.5 22.2 22.5
34 Loans 14.7 14.5 14.6
35 Leases 7.8 7.8 7.9
36 Other business receivables
(6) 5.6 5.6 5.6
2001
Type of credit
Apr. May June
Seasonally adjusted
1 Total 1,171.3 (r) 1,170.9 (r) n.a.
2 Consumer 456.2 (r) 454.0 (r) n.a.
3 Real estate 182.5 184.4 n.a.
4 Business 532.6 532.5 n.a.
Not seasonally adjusted
5 Total 1,173.6 (r) 1,174.1 (r) n.a.
6 Consumer 450.9 (r) 451.4 (r) n.a.
7 Motor vehicles loans 126.9 (r) 127.6 (r) n.a.
8 Motor vehicle leases 101.9 101.7 n.a.
9 Revolving (2) 36.0 37.5 n.a.
10 Other (3) 28.1 (r) 26.4 (r) n.a.
Securitized assets (4)
11 Motor vehicle loans 106.1 107.8 n.a.
12 Motor vehicle leases 7.0 6.9 n.a.
13 Revolving 28.8 27.8 n.a.
14 Other 16.0 15.7 n.a.
15 Real estate 182.5 184.4 n.a.
16 One- to four-family 112.3 114.4 n.a.
17 Other 43.8 43.9 n.a.
Securitized real estate
assets (4)
18 One- to four-family 23.8 23.6 n.a.
19 Other 2.6 2.6 n.a.
20 Business 540.2 538.2 n.a.
21 Motor vehicles 91.0 90.8 n.a.
22 Retail loans 29.9 29.8 n.a.
23 Wholesale loans (5) 35.3 35.2 n.a.
24 Leases 25.8 25.8 n.a.
25 Equipment 267.5 268.0 n.a.
26 Loans 57.1 57.1 n.a.
27 Leases 210.4 210.9 n.a.
28 Other business
receivables (6) 113.5 112.1 n.a.
Securitized assets (4)
29 Motor vehicles 40.3 40.0 n.a.
30 Retail loans 3.1 3.0 n.a.
31 Wholesale loans 34.6 34.3 n.a.
32 Leases 2.6 2.7 n.a.
33 Equipment 22.2 21.6 n.a.
34 Loans 14.4 13.9 n.a.
35 Leases 7.8 7.7 n.a.
36 Other business receivables
(6) 5.7 5.7 n.a.
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
2001
Item 1998 1999 2000
Jan.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 195.2 210.7 234.5 238.7
2 Amount of loan (thousands of
dollars) 151.1 161.7 177.0 181.6
3 Loan-to-price ratio
(percent) 80.0 78.7 77.4 78.2
4 Maturity (years) 28.4 28.8 29.2 29.4
5 Fees and charges (percent of
loan amount) (2) .89 .77 .70 .71
Yield (percent per year)
6 Contract rate (1) 6.95 6.94 7.41 7.09
7 Effective rate (1,3) 7.08 7.06 7.52 7.20
8 Contract rate (HUD
series) (4) 7.00 7.45 n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (Section
203) (5) 7.04 7.74 n.a. n.a.
10 GNMA securities (6) 6.43 7.03 7.57 6.57
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings (end of
period)
11 Total 414,515 523,941 610,122 623,950
12 FHA/VA insured 33,770 55,318 61,539 62,970
13 Conventional 380,745 468,623 548,583 560,980
14 Mortgage transactions pur-
chased (during period) 188,448 195,210 154,231 20,598
Mortgage commitments
(during period)
15 Issued (7) 193,795 187,948 163,689 27,325
16 To sell (8) 1,880 5,900 11,786 766
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 255,010 324,443 385,693 391,679
18 FHA/VA insured 785 1,836 3,332 3,307
19 Conventional 254,225 322,607 382,361 388,372
Mortgage transactions
(during period)
20 Purchases 267,402 239,793 174,043 15,658
21 Sales 250,565 233,031 166,901 15,364
22 Mortgage commitments
contracted (during
period) (9) 281,899 228,432 169,231 18,685
2001
Item
Feb. Mar. Apr.
Terms and yields in
primary and secondary
markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 245.0 244.5 240.8
2 Amount of loan (thousands of
dollars) 185.4 182.9 181.5
3 Loan-to-price ratio
(percent) 77.9 77.2 77.6
4 Maturity (years) 29.0 28.8 28.6
5 Fees and charges (percent of
loan amount) (2) .70 .66 .69
Yield (percent per year)
6 Contract rate (1) 6.99 6.94 6.96
7 Effective rate (1,3) 7.10 7.04 7.07
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) 6.61 6.41 6.53
Activity in secondary
markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings (end of
period)
11 Total 632,850 n.a. n.a.
12 FHA/VA insured 63,337 n.a. n.a.
13 Conventional 569,513 n.a. n.a.
14 Mortgage transactions pur-
chased (during period) 17,230 20,899 24,015
Mortgage commitments
(during period)
15 Issued(7) 25,471 n.a. n.a.
16 To sell (8) 835 n.a. n.a.
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 407,086 421,655 430,960
18 FHA/VA insured 3,319 3,329 2,878
19 Conventional 403,767 418,326 428,082
Mortgage transactions
(during period)
20 Purchases 16,536 24,648 n.a.
21 Sales 15,549 23,367 31,219
22 Mortgage commitments
contracted (during
period) (9) 17,664 26,682 32,758
2001
Item
May June July
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of
dollars) 241.4 250.6 242.9
2 Amount of loan (thousands of
dollars) 181.4 188.7 182.7
3 Loan-to-price ratio
(percent) 77.6 77.3 77.3
4 Maturity (years) 28.6 28.7 28.8
5 Fees and charges (percent of
loan amount) (2) .69 .66 .66
Yield (percent per year)
6 Contract rate (1) 7.02 7.02 7.01
7 Effective rate (1,3) 7.12 7.12 7.11
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) 6.61 6.55 6.49
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 pur-
chased (during period) 16,825 24,430 26,082
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 437,582 443,810 454,485
18 FHA/VA insured 2,785 2,738 2,689
19 Conventional 434,797 441,072 451,796
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a.
21 Sales 33,670 38,133 44,574
22 Mortgage commitments
contracted (during
period) (9) 39,897 37,312 43,788
(1.) Weighted averages based on sample surveys of mortgages originated
by major institutional lender groups for purchase of newly built homes;
compiled by the Federal Housing Finance Board in cooperation with the
Federal Deposit Insurance Corporation.
(2.) Includes all fees, commissions, discounts, and "points" paid (by
the borrower or the seller) to obtain a loan.
(3.) Average effective interest rate on loans closed for purchase of
newly built homes, assuming prepayment at the end of ten years.
(4.) Average contract rate on new commitments for conventional first
mortgages; from U.S. Department of Housing and Urban Development
(HUD). Based on transactions on the first day of the subsequent month.
(5.) Average gross yield on thirty-year, minimum-downpayment first
mortgages insured by the Federal Housing Administration (FHA) for
immediate delivery in the private secondary market. Based on
transactions on first day of subsequent month.
(6.) Average net yields to investors on fully modified pass-through
securities backed by mortgages and guaranteed by the Government
National Mortgage Association (GNMA), assuming prepayment in twelve
years on pools of thirty-year mortgages insured by the Federal
Housing Administration or guaranteed by the Department of Veterans
Affairs.
(7.) Does not include standby commitments issued, but includes
standby commitments converted.
(8.) Includes participation loans as well as whole loans.
(9.) Includes conventional and government-underwritten loans. The
Federal Home Loan Mortgage Corporation's mortgage commitments and
mortgage transactions include activity under mortgage securities
swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
1.54 MORTGAGE DEBT OUTSTANDING (1)
Millions of dollars, end of period
2000
Type of holder an
property 1997 1998 1999
Q1
1 All holders 5,198,237 5,698,389 6,326,415 6,426,515
By type of property
2 One- to four-family
residences 3,968,218 4,348,553 4,773,876 4,832,886
3 Multifamily
residences 302,642 330,718 372,619 387,188
4 Nonfarm, non-
residential 837,077 922,612 1,076,958 1,102,565
5 Farm 90,300 96,506 102,962 103,875
By type of holder
6 Major financial
institutions 2,084,000 2,195,869 2,396,265 2,458,194
7 Commercial
banks (2) 1,245,334 1,338,273 1,496,844 1,548,224
8 One- to four-
family 745,777 798,009 880,208 905,270
9 Multifamily 50,705 54,174 67,666 72,509
10 Nonfarm, non-
residential 421,865 457,054 517,130 537,772
11 Farm 26,987 29,035 31,839 32,673
12 Savings institu-
tions (3) 631,826 643,957 668,634 680,745
13 One- to four-
family 520,782 533,895 549,046 560,018
14 Multifamily 59,540 56,847 59,168 57,790
15 Nonfarm, non-
residential 51,150 52,798 59,945 62,444
16 Farm 354 417 475 493
17 Life insurance
companies 206,840 213,640 230,787 229,225
18 One- to four-
family 7,187 6,590 5,934 5,567
19 Multifamily 30,402 31,522 32,818 32,634
20 Nonfarm, non-
residential 158,779 164,004 179,048 178,043
21 Farm 10,472 11,524 12,987 12,981
22 Federal and related
agencies 286,194 293,602 322,132 322,917
23 Government
National
Mortgage
Association 8 7 7 7
24 One- to four-
family 8 7 7 7
25 Multifamily 0 0 0 0
26 Farmers Home
Administra-
tion (4) 41,195 40,851 73,871 72,899
27 One- to four-
family 17,253 16,895 16,506 16,456
28 Multifamily 11,720 11,739 11,741 11,732
29 Nonfarm, non-
residential 7,370 7,705 41,355 40,509
30 Farm 4,852 4,513 4,268 4,202
31 Federal Housing
and Veterans'
Administra-
tions 3,811 3,674 3,712 3,794
32 One- to four-
family 1,767 1,849 1,851 1,847
33 Multifamily 2,044 1,825 1,861 1,947
34 Resolution Trust
Corporation 0 0 0 0
35 One- to four-
family 0 0 0 0
36 Multifamily 0 0 0 0
37 Nonfarm, non-
residential 0 0 0 0
38 Farm 0 0 0 0
39 Federal Deposit
Insurance
Corporation 724 361 152 98
40 One- to four-
family 117 58 25 16
41 Multifamily 140 70 29 19
42 Nonfarm, non-
residential 467 233 98 63
43 Farm 0 0 0 0
44 Federal National
Mortgage
Association 161,308 157,675 151,500 150,312
45 One- to four-
family 149,831 147,594 141,195 139,986
46 Multifamily 11,477 10,081 10,305 10,326
47 Federal Land
Banks 30,657 32,983 34,187 34,142
48 One- to four-
family 1,804 1,941 2,012 2,009
49 Farm 0 0 0 0
50 Federal Home Loan
Mortgage
Corporation 48,454 57,085 56,676 57,009
51 One- to four-
family 42,629 49,106 44,321 43,384
52 Multifamily 5,825 7,979 12,355 13,625
53 Mortgage pools or
trusts (5) 2,232,848 2,581,969 2,947,760 2,983,365
54 Government
National
Mortgage
Association 536,879 537,446 582,263 589,192
55 One- to four-
family 523,225 522,498 565,189 571,506
56 Multifamily 13,654 14,948 17,074 17,686
57 Federal Home Loan
Mortgage
Corporation 579,385 646,459 749,081 757,106
58 One- to four-
family 576,846 643,465 744,619 752,607
59 Multifamily 2,539 2,994 4,462 4,499
60 Federal National
Mortgage
Association 709,582 834,517 960,883 975,815
61 One- to four-
family 687,981 804,204 924,941 932,178
62 Multifamily 21,601 30,313 35,942 43,637
63 Farmers Home
Administra-
tion (4) 2 1 0 0
64 One- to four-
family 0 0 0 0
55 Multifamily 0 0 0 0
56 Nonfarm, non-
residential 0 0 0 0
57 Farm 2 1 0 0
58 Private mortgage
conduits 407,000 563,546 655,533 661,252
59 One- to four-
family (6) 310,659 405,153 455,021 455,623
70 Multifamily 20,907 33,754 42,226 43,069
71 Nonfarm, non-
residential 75,434 124,639 158,287 162,560
72 Farm 0 0 0 0
73 Individuals and
others 595,195 626,949 660,258 662,039
74 One- to four-
family 382,315 416,335 441,205 442,006
75 Multifamily 72,088 74,462 76,740 77,466
76 Nonfarm, non-
residential 122,013 116,178 121,095 121,174
77 Farm 18,779 19,974 21,217 21,393
2000 2001
Type of holder an
property
Q2 Q3 Q4 Q1
1 All holders 6,592,329 6,744,667 6,889,962 7,016,475
By type of property
2 One- to four-family
residences 4,962,031 5,087,538 5,193,000 5,284,886
3 Multifamily
residences 390,753 399,232 409,216 418,762
4 Nonfarm, non-
residential 1,133,107 1,149,940 1,178,909 1,202,752
5 Farm 106,437 107,957 108,836 110,075
By type of holder
6 Major financial
institutions 2,550,201 2,606,592 2,621,076 2,667,125
7 Commercial
banks (2) 1,615,794 1,650,294 1,661,600 1,688,869
8 One- to four-
family 949,223 968,831 966,609 978,227
9 Multifamily 75,795 77,031 77,821 79,890
10 Nonfarm, non-
residential 557,059 570,513 583,153 596,518
11 Farm 33,717 33,919 34,016 34,234
12 Savings institu-
tions (3) 701,992 721,563 723,534 741,114
13 One- to four-
family 578,612 595,518 595,053 608,289
14 Multifamily 59,174 60,077 61,094 62,666
15 Nonfarm, non-
residential 63,688 65,437 66,852 69,589
16 Farm 518 531 535 569
17 Life insurance
companies 232,415 234,735 235,942 237,142
18 One- to four-
family 5,237 4,907 4,904 4,800
19 Multifamily 33,121 33,478 33,681 33,867
20 Nonfarm, non-
residential 180,701 182,646 183,757 184,774
21 Farm 13,356 13,704 13,600 13,701
22 Federal and related
agencies 332,642 336,682 343,962 346,276
23 Government
National
Mortgage
Association 7 6 6 6
24 One- to four-
family 7 6 6 6
25 Multifamily 0 0 0 0
26 Farmers Home
Administra-
tion (4) 72,896 73,009 73,323 73,361
27 One- to four-
family 16,435 16,444 16,372 16,297
28 Multifamily 11,729 11,734 11,733 11,725
29 Nonfarm, non-
residential 40,554 40,665 41,070 41,247
30 Farm 4,179 4,167 4,148 4,093
31 Federal Housing
and Veterans'
Administra-
tions 3,845 3,395 3,507 2,873
32 One- to four-
family 1,832 1,327 1,308 1,276
33 Multifamily 2,013 2,068 2,199 1,597
34 Resolution Trust
Corporation 0 0 0 0
35 One- to four-
family 0 0 0 0
36 Multifamily 0 0 0 0
37 Nonfarm, non-
residential 0 0 0 0
38 Farm 0 0 0 0
39 Federal Deposit
Insurance
Corporation 72 82 45 50
40 One- to four-
family 12 13 7 8
41 Multifamily 14 16 9 10
42 Nonfarm, non-
residential 46 53 29 32
43 Farm 0 0 0 0
44 Federal National
Mortgage
Association 153,507 152,815 155,363 156,294
45 One- to four-
family 142,478 141,786 144,150 145,014
46 Multifamily 11,029 11,029 11,213 11,280
47 Federal Land
Banks 34,830 35,549 36,326 37,072
48 One- to four-
family 2,049 2,092 2,137 2,181
49 Farm 0 0 0 0
50 Federal Home Loan
Mortgage
Corporation 56,972 57,046 59,240 60,110
51 One- to four-
family 42,892 42,138 42,871 42,771
52 Multifamily 14,080 14,908 16,369 17,339
53 Mortgage pools or
trusts (5) 3,034,691 3,115,138 3,231,195 3,305,311
54 Government
National
Mortgage
Association 590,708 602,628 611,629 601,540
55 One- to four-
family 572,661 584,152 592,700 581,760
56 Multifamily 18,047 18,476 18,929 19,780
57 Federal Home Loan
Mortgage
Corporation 768,641 790,891 822,310 833,616
58 One- to four-
family 763,890 786,007 816,602 827,769
59 Multifamily 4,751 4,884 5,708 5,847
60 Federal National
Mortgage
Association 995,815 1,020,828 1,057,750 1,099,049
61 One- to four-
family 957,584 981,206 1,016,398 1,055,412
62 Multifamily 38,231 39,622 41,352 43,637
63 Farmers Home
Administra-
tion (4) 0 0 0 0
64 One- to four-
family 0 0 0 0
55 Multifamily 0 0 0 0
56 Nonfarm, non-
residential 0 0 0 0
57 Farm 0 0 0 0
58 Private mortgage
conduits 679,527 700,792 739,506 771,106
59 One- to four-
family (6) 464,593 477,899 499,834 523,300
70 Multifamily 44,290 45,991 49,322 50,639
71 Nonfarm, non-
residential 170,644 176,901 190,350 197,167
72 Farm 0 0 0 0
73 Individuals and
others 674,794 686,254 693,729 697,763
74 One- to four-
family 454,314 470,762 478,118 481,485
75 Multifamily 78,179 79,587 79,566 80,268
76 Nonfarm, non-
residential 120,415 113,725 113,697 113,424
77 Farm 21,886 22,179 22,348 22,586
(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
2001
Holder and type of
credit 1998 1999 2000
Jan.
Seasonally adjusted
1 Total 1,301,023 1,393,657 1,531,469 1,548,486
2 Revolving 560,504 595,610 663,830 669,780
3 Nonrevolving 740,519 798,047 867,639 878,706
Not Seasonally adjusted
4 Total 1,331,742 1,426,151 1,566,457 1,560,357
By major holder
5 Commercial banks 508,932 499,758 541,470 539,796
6 Finance companies 168,491 181,573 193,189 187,029
7 Credit unions 155,406 167,921 184,434 184,120
8 Savings
institutions 51,611 61,527 64,557 64,667
9 Nonfinancial
business 74,877 80,311 82,662 77,685
10 Pools of
securitized
assets (3) 372,425 435,061 500,145 507,060
By major type of
credit (4)
11 Revolving 586,528 623,245 693,645 681,812
12 Commercial banks 210,346 189,352 218,063 211,006
13 Finance companies 32,309 33,814 38,251 37,098
14 Credit unions 19,930 20,641 22,226 21,714
15 Savings
institutions 12,450 15,838 16,560 16,701
16 Nonfinancial
business 39,166 42,783 42,430 38,934
17 Pools of
securitized
assets (3) 272,327 320,817 356,114 356,359
18 Nonrevolving 745,214 802,906 872,812 878,545
19 Commercial banks 298,586 310,406 323,407 328,790
20 Finance companies 136,182 147,759 154,938 149,931
21 Credit unions 135,476 147,280 162,208 162,406
22 Savings
institutions 39,161 45,689 47,997 47,966
23 Nonfinancial
business 35,711 37,528 40,232 38,750
24 Pools of
securitized
assets (3) 100,098 114,244 144,031 150,701
2001
Holder and type of
credit
Feb. Mar. Apr.
Seasonally adjusted
1 Total 1,562,937 1,571,588 1,584,383
2 Revolving 681,384 689,462 697,636
3 Nonrevolving 881,553 882,126 886,746
Not Seasonally adjusted
4 Total 1,558,086 1,559,178 1,570,232
By major holder
5 Commercial banks 535,137 534,545 540,686
6 Finance companies 187,493 185,862 191,028
7 Credit unions 183,548 182,918 184,280
8 Savings
institutions 64,777 64,887 64,950
9 Nonfinancial
business 73,020 71,757 71,511
10 Pools of
securitized
assets (3) 514,111 519,209 517,777
By major type of
credit (4)
11 Revolving 682,143 682,422 690,420
12 Commercial banks 208,192 208,924 215,207
13 Finance companies 36,938 35,626 36,044
14 Credit unions 21,415 20,902 21,068
15 Savings
institutions 16,842 16,983 16,975
16 Nonfinancial
business 35,290 34,150 33,815
17 Pools of
securitized
assets (3) 363,466 365,837 367,310
18 Nonrevolving 875,943 876,756 879,812
19 Commercial banks 326,945 325,621 325,478
20 Finance companies 150,555 150,236 154,985
21 Credit unions 162,133 162,016 163,212
22 Savings
institutions 47,935 47,904 47,975
23 Nonfinancial
business 37,729 37,607 37,695
24 Pools of
securitized
assets (3) 150,645 153,372 150,468
2001
Holder and type of
credit
May June
Seasonally adjusted
1 Total 1,591,239 1,589,663
2 Revolving 701,101 703,368
3 Nonrevolving 890,137 886,295
Not Seasonally
adjusted
4 Total 1,576,531 1,581,516
By major holder
5 Commercial banks 543,162 540,613
6 Finance companies 191,539 190,908
7 Credit unions 185,971 186,788
8 Savings
institutions 65,014 65,077
9 Nonfinancial
business 70,010 68,107
10 Pools of
securitized
assets (3) 520,835 530,023
By major type of
credit (4)
11 Revolving 693,679 697,347
12 Commercial banks 217,438 215,090
13 Finance companies 37,509 37,350
14 Credit unions 21,226 21,296
15 Savings
institutions 16,968 16,961
16 Nonfinancial
business 32,690 31,379
17 Pools of
securitized
assets (3) 367,849 375,271
18 Nonrevolving 882,851 884,169
19 Commercial banks 325,724 325,523
20 Finance companies 154,030 153,558
21 Credit unions 164,745 165,492
22 Savings
institutions 48,046 48,117
23 Nonfinancial
business 37,321 36,727
24 Pools of
securitized
assets (3) 152,986 154,752
(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
2000 2001
Item 1998 1999 2000
Dec. Jan.
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.72 8.44 9.34 n.a. n.a.
2 24-month personal 13.74 13.39 13.90 n.a. n.a.
Credit card plan
3 All accounts 15.71 15.21 15.71 n.a. n.a.
4 Accounts assessed
interest 15.59 14.81 14.91 n.a. n.a.
Auto finance companies
5 New car 6.30 6.66 6.61 7.45 7.29
6 Used car 12.64 12.60 13.55 13.58 13.11
OTHER TERMS (3)
Maturity (months)
7 New car 52.1 52.7 54.9 55.2 54.3
8 Used car 53.5 55.9 57.0 56.6 57.8
Loan-to-value ratio
9 New car 92 92 92 91 90
10 Used car 99 99 99 100 98
Amount financed
(dollars)
11 New car 19,083 19,880 20,923 21,867 21,315
12 Used car 12,691 13,642 14,058 14,591 14,155
2001
Item
Feb. Mar. Apr. May June
INTEREST RATES
Commercial banks (2)
1 48-month new car 9.17 n.a. n.a. 8.67 n.a.
2 24-month personal 13.71 n.a. n.a. 13.28 n.a.
Credit card plan
3 All accounts 15.66 n.a. n.a. 15.07 n.a.
4 Accounts assessed
interest 14.61 n.a. n.a. 14.63 n.a.
Auto finance companies
5 New car 7.19 6.80 6.80 6.56 6.15
6 Used car 13.34 13.19 12.82 12.57 12.05
OTHER TERMS (3)
Maturity (months)
7 New car 55.5 55.6 56.3 57.0 57.2
8 Used car 58.0 58.0 57.9 57.8 57.6
Loan-to-value ratio
9 New car 91 91 91 92 91
10 Used car 99 100 100 100 100
Amount financed
(dollars)
11 New car 21,993 22,131 21,914 21,871 22,124
12 Used car 14,095 14,214 14,347 14,350 14,586
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals. Data in this table
also appear in the Board's G.19 (421) monthly statistical release.
For ordering address, see inside front cover.
(2.) Data are available for only the second month of each quarter.
(3.) At auto finance companies.
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS (1)
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction
category or sector 1995 1996 1997
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinan-
cial sectors 705.9 (r) 733.1 (r) 804.4 (r)
By sector and instrument
2 Federal government 144.4 145.0 23.1
3 Treasury securities 142.9 146.6 23.2
4 Budget agency securi-
ties and mortgages 1.5 -1.6 -.1
5 Nonfederal 561.5 (r) 588.1 (r) 781.3 (r)
By instrument
6 Commercial paper 18.1 -.9 13.7
7 Municipal securities
and loans -48.2 2.6 71.4
8 Corporate bonds 91.1 116.3 150.5
9 Bank loans n.e.c. 103.7 70.5 106.0
10 Other loans and
advances 67.2 33.5 69.1
11 Mortgages 190.6 (r) 277.5 (r) 317.6 (r)
12 Home 179.1 (r) 242.9 (r) 252.6 (r)
13 Multifamily
residential 4.5 (r) 9.5 (r) 7.6 (r)
14 Commercial 5.7 (r) 22.5 (r) 54.3 (r)
15 Farm 1.4 (r) 2.7 (r) 3.1 (r)
16 Consumer credit 138.9 88.8 52.5
By borrowing sector
17 Household 339.3 (r) 338.5 (r) 322.1 (r)
18 Nonfinancial business 273.7 (r) 256.4 (r) 403.2 (r)
19 Corporate 224.9 (r) 183.7 (r) 301.3 (r)
20 Nonfarm noncorporate 46.1 (r) 67.8 (r) 95.7 (r)
21 Farm 2.7 (r) 4.9 (r) 6.2
22 State and local
government -51.5 -6.8 56.1
23 Foreign net borrowing in
United States 78.5 88.4 71.8
24 Commercial paper 13.5 11.3 3.7
25 Bonds 57.1 67.0 61.4
26 Bank loans n.e.c. 8.5 9.1 8.5
27 Other loans and
advances -.5 1.0 -1.8
28 Total domestic plus
foreign 784.5 (r) 821.5 (r) 876.2 (r)
Financial sectors
29 Total net borrowing by
financial sectors 454.0 545.7 653.8
By instrument
30 Federal government-
related 204.2 231.4 212.9
31 Government-sponsored
enterprise
securities 105.9 90.4 98.4
32 Mortgage pool
securities 98.3 141.0 114.6
33 Loans from U.S.
government .0 .0 .0
34 Private 249.8 314.4 440.9
35 Open market paper 42.7 92.2 166.7
36 Corporate bonds 195.9 173.8 210.5
37 Bank loans n.e.c. 2.5 12.6 13.2
38 Other loans and
advances 3.4 27.9 35.6
39 Mortgages 5.3 7.9 14.9
By borrowing sector
40 Commercial banking 22.5 13.0 46.1
41 Savings institutions 2.6 25.5 19.7
42 Credit unions -.1 .1 .1
43 Life insurance companies -.1 1.1 .2
44 Government-sponsored
enterprises 105.9 90.4 98.4
45 Federally related
mortgage pools 98.3 141.0 114.6
46 Issuers of asset-backed
securities (ABSs) 142.4 150.8 202.2
47 Finance companies 50.2 45.9 48.7
48 Mortgage companies -2.2 4.1 -4.6
49 Real estate investment
trusts (REITs) 4.5 11.9 39.6
50 Brokers and deal -5.0 -2.0 8.1
51 Funding corporations 34.9 64.1 80.7
All sectors
52 Total net borrowing, all
sectors 1,238.5 (r) 1,367.2 (r) 1,530.0 (r)
53 Open market paper 74.3 102.6 184.1
54 U.S. government
securities 348.6 376.4 236.0
55 Municipal securities -48.2 2.6 71.4
56 Corporate and foreign
bonds 344.1 357.0 422.4
57 Bank loans n.e.c. 114.7 92.1 128.2
58 Other loans and advances 70.1 62.5 102.8
59 Mortgages 196.0 (r) 285.3 (r) 332.5 (r)
60 Consumer credit 138.9 88.8 52.5
Funds raised through mutual
funds and corporate equities
61 Total net issues 146.8 (r) 231.8 (r) 181.8 (r)
62 Corporate equities -.6 (r) -5.8 (r) -83.3 (r)
63 Nonfinancial
corporations -58.3 -69.5 -114.4
64 Foreign shares
purchased by U.S.
residents 65.4 (r) 82.8 57.6
65 Financial corporations -7.7 (r) -19.2 -26.5 (r)
66 Mutual fund shares 147.4 237.6 265.1
1999
Transaction
category or sector 1998 1999 Q4 (r)
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinan-
cial sectors 1,023.5 (r) 1,097.8 (r) 999.7
By sector and instrument
2 Federal government -52.6 -71.2 -30.0
3 Treasury securities -54.6 -71.0 -30.1
4 Budget agency securi-
ties and mortgages 2.0 -.2 .0
5 Nonfederal 1,076.2 (r) 1,169.1 (r) 1,029.7
By instrument
6 Commercial paper 24.4 37.4 44.0
7 Municipal securities
and loans 96.8 68.2 44.8
8 Corporate bonds 218.7 229.9 155.2
9 Bank loans n.e.c. 108.2 82.7 84.8
10 Other loans and
advances 74.3 60.6 23.7
11 Mortgages 486.1 (r) 595.9 (r) 567.7
12 Home 384.2 (r) 429.5 (r) 377.2
13 Multifamily
residential 23.8 (r) 42.7 (r) 53.9
14 Commercial 71.5 (r) 117.9 (r) 133.9
15 Farm 6.5 (r) 5.8 (r) 2.7
16 Consumer credit 67.6 94.4 109.5
By borrowing sector
17 Household 454.2 (r) 506.3 (r) 437.8
18 Nonfinancial business 541.7 (r) 610.4 (r) 564.7
19 Corporate 394.8 (r) 449.2 (r) 389.5
20 Nonfarm noncorporate 138.9 (r) 155.7 (r) 169.4
21 Farm 8.0 (r) 5.5 (r) 5.9
22 State and local
government 80.3 52.3 27.2
23 Foreign net borrowing in
United States 43.4 (r) 27.9 (r) 22.8
24 Commercial paper 7.8 16.3 33.6
25 Bonds 34.9 (r) 16.8 (r) 2.3
26 Bank loans n.e.c. 6.7 .5 2.3
27 Other loans and
advances -6.0 -5.7 -15.4
28 Total domestic plus
foreign 1,066.9 (r) 1,125.8 (r) 1,022.5
Financial sectors
29 Total net borrowing by
financial sectors 1,073.8 (r) 1,077.3 (r) 961.4
By instrument
30 Federal government-
related 470.9 592.0 552.4
31 Government-sponsored
enterprise
securities 278.3 318.2 367.9
32 Mortgage pool
securities 192.6 273.8 184.5
33 Loans from U.S.
government .0 .0 .0
34 Private 602.9 (r) 485.3 409.0
35 Open market paper 161.0 176.2 404.4
36 Corporate bonds 296.9 211.2 (r) -30.1
37 Bank loans n.e.c. 30.1 -14.3 -54.4
38 Other loans and
advances 90.2 107.1 85.9
39 Mortgages 24.8 5.1 3.2
By borrowing sector
40 Commercial banking 72.9 67.2 44.8
41 Savings institutions 52.2 48.0 -6.8
42 Credit unions .6 2.2 3.3
43 Life insurance companies .7 .7 -4.4
44 Government-sponsored
enterprises 278.3 318.2 367.9
45 Federally related
mortgage pools 192.6 273.8 184.5
46 Issuers of asset-backed
securities (ABSs) 321.4 223.4 105.9
47 Finance companies 43.0 62.4 92.1
48 Mortgage companies 1.6 .2 6.2
49 Real estate investment
trusts (REITs) 62.7 6.3 11.3
50 Brokers and deal 7.2 -17.2 -37.3
51 Funding corporations 40.7 92.2 193.8
All sectors
52 Total net borrowing, all
sectors 2,140.7 (r) 2,203.1 (r) 1,983.8
53 Open market paper 193.1 229.9 482.0
54 U.S. government
securities 418.3 520.7 522.4
55 Municipal securities 96.8 68.2 44.8
56 Corporate and foreign
bonds 550.4 457.9 (r) 127.4
57 Bank loans n.e.c. 145.0 68.9 32.7
58 Other loans and advances 158.5 162.0 94.2
59 Mortgages 510.9 (r) 601.0 (r) 570.9
60 Consumer credit 67.6 94.4 109.5
Funds raised through mutual
funds and corporate equities
61 Total net issues 102.8 (r) 146.3 (r) 168.2
62 Corporate equities -171.8 (r) -42.1 (r) 8.0
63 Nonfinancial
corporations -267.0 -143.5 -55.0
64 Foreign shares
purchased by U.S.
residents 101.3 (r) 114.4 71.3
65 Financial corporations -6.1 (r) -13.0 (r) -8.3
66 Mutual fund shares 274.6 188.3 160.2
2000 (r)
Transaction
category or sector Q1 Q2 Q3
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinan-
cial sectors 949.6 967.5 801.3
By sector and instrument
2 Federal government -217.2 -408.7 -226.2
3 Treasury securities -215.2 -410.5 -223.8
4 Budget agency securi-
ties and mortgages -2.1 1.8 -2.4
5 Nonfederal 1,166.8 1,376.2 1,027.6
By instrument
6 Commercial paper 29.8 110.4 56.1
7 Municipal securities
and loans 20.0 30.1 31.0
8 Corporate bonds 186.2 153.8 184.4
9 Bank loans n.e.c. 139.5 163.3 50.2
10 Other loans and
advances 147.1 126.0 18.4
11 Mortgages 498.8 654.6 565.0
12 Home 356.2 484.6 435.9
13 Multifamily
residential 30.9 49.0 29.5
14 Commercial 104.3 110.9 93.1
15 Farm 7.4 10.1 6.5
16 Consumer credit 145.3 137.9 122.5
By borrowing sector
17 Household 516.6 612.7 544.4
18 Nonfinancial business 637.2 745.2 459.4
19 Corporate 487.7 550.8 322.9
20 Nonfarm noncorporate 135.7 184.7 129.3
21 Farm 13.8 9.7 7.2
22 State and local
government 12.9 18.2 23.8
23 Foreign net borrowing in
United States 117.4 50.6 108.7
24 Commercial paper 57.8 12.0 7.0
25 Bonds 44.7 31.2 91.5
26 Bank loans n.e.c. 15.4 5.7 11.9
27 Other loans and
advances -.5 1.7 -1.7
28 Total domestic plus
foreign 1,067.0 1,018.1 910.0
Financial sectors
29 Total net borrowing by
financial sectors 601.2 884.8 777.9
By instrument
30 Federal government-
related 224.4 381.1 514.8
31 Government-sponsored
enterprise
securities 104.9 248.9 278.1
32 Mortgage pool
securities 119.5 132.2 236.7
33 Loans from U.S.
government .0 .0 .0
34 Private 376.7 503.7 263.1
35 Open market paper 114.6 136.7 106.5
36 Corporate bonds 165.0 227.7 192.1
37 Bank loans n.e.c. 3.1 10.2 -9.9
38 Other loans and
advances 87.0 119.2 -31.6
39 Mortgages 7.0 10.0 6.0
By borrowing sector
40 Commercial banking 78.3 99.3 43.4
41 Savings institutions 57.5 69.0 -37.9
42 Credit unions -2.9 .9 1.1
43 Life insurance companies -.7 -1.1 -.3
44 Government-sponsored
enterprises 104.9 248.9 278.1
45 Federally related
mortgage pools 119.5 132.2 236.7
46 Issuers of asset-backed
securities (ABSs) 175.0 146.0 156.2
47 Finance companies 53.5 177.7 29.6
48 Mortgage companies -3.0 2.7 -.3
49 Real estate investment
trusts (REITs) 11.5 9.8 -2.4
50 Brokers and deal 44.4 -.7 25.4
51 Funding corporations -36.8 -.1 48.2
All sectors
52 Total net borrowing, all
sectors 1,668.1 1,902.9 1,687.9
53 Open market paper 202.1 259.1 169.7
54 U.S. government
securities 7.2 -27.6 288.6
55 Municipal securities 20.0 30.1 31.0
56 Corporate and foreign
bonds 396.0 412.7 468.0
57 Bank loans n.e.c. 158.0 179.2 52.2
58 Other loans and advances 233.6 246.9 -15.0
59 Mortgages 505.9 664.6 571.0
60 Consumer credit 145.3 137.9 122.5
Funds raised through mutual
funds and corporate equities
61 Total net issues 387.7 163.4 211.3
62 Corporate equities 80.4 -68.7 -68.1
63 Nonfinancial
corporations 61.2 -245.2 -87.7
64 Foreign shares
purchased by U.S.
residents 62.6 185.9 61.1
65 Financial corporations -43.4 -9.3 -41.5
66 Mutual fund shares 307.3 232.0 279.4
2000
(r) 2001
Transaction
category or sector Q4 Q1 (r) Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinan-
cial sectors 758.0 1,001.1 1,034.9
By sector and instrument
2 Federal government -331.3 -4.3 -216.0
3 Treasury securities -330.2 -2.1 -217.1
4 Budget agency securi-
ties and mortgages -1.2 -2.2 1.1
5 Nonfederal 1,089.4 1,005.4 1,251.0
By instrument
6 Commercial paper -4.0 -207.2 -141.5
7 Municipal securities
and loans 60.1 106.9 113.9
8 Corporate bonds 175.6 403.7 423.7
9 Bank loans n.e.c. 59.4 -6.7 -144.1
10 Other loans and
advances 125.2 -12.5 102.8
11 Mortgages 549.5 563.1 823.3
12 Home 392.3 431.5 613.9
13 Multifamily
residential 41.7 40.4 56.2
14 Commercial 111.8 86.7 144.2
15 Farm 3.8 4.5 9.1
16 Consumer credit 123.7 158.1 72.8
By borrowing sector
17 Household 498.4 549.5 660.9
18 Nonfinancial business 537.2 355.8 480.0
19 Corporate 388.5 228.2 348.1
20 Nonfarm noncorporate 134.2 121.3 125.4
21 Farm 14.5 6.3 6.5
22 State and local
government 53.7 100.1 110.1
23 Foreign net borrowing in
United States 107.4 9.3 4.2
24 Commercial paper 50.1 -25.4 -5.6
25 Bonds 49.6 33.3 36.0
26 Bank loans n.e.c. 12.2 13.0 -26.9
27 Other loans and
advances -4.6 -11.6 .7
28 Total domestic plus
foreign 865.4 1,010.4 1,039.1
Financial sectors
29 Total net borrowing by
financial sectors 976.7 882.9 763.1
By instrument
30 Federal government-
related 613.6 432.6 671.2
31 Government-sponsored
enterprise
securities 304.5 262.3 264.7
32 Mortgage pool
securities 309.1 170.3 406.5
33 Loans from U.S.
government .0 .0 .0
34 Private 363.1 450.3 91.8
35 Open market paper 153.2 -134.6 -85.4
36 Corporate bonds 217.4 456.7 157.7
37 Bank loans n.e.c. -4.4 27.8 14.5
38 Other loans and
advances -4.8 107.8 -11.0
39 Mortgages 1.8 -7.5 16.0
By borrowing sector
40 Commercial banking 18.8 148.3 -15.6
41 Savings institutions 20.4 62.5 16.2
42 Credit unions 1.0 -.6 .8
43 Life insurance companies -.7 -2.4 .1
44 Government-sponsored
enterprises 304.5 262.3 264.7
45 Federally related
mortgage pools 309.1 170.3 406.5
46 Issuers of asset-backed
securities (ABSs) 307.9 289.8 171.8
47 Finance companies 37.8 -42.8 35.7
48 Mortgage companies 1.0 .7 .6
49 Real estate investment
trusts (REITs) -8.1 -6.1 2.2
50 Brokers and deal -6.6 -23.7 35.6
51 Funding corporations -8.5 24.6 -155.5
All sectors
52 Total net borrowing, all
sectors 1,842.1 1,893.2 1,802.2
53 Open market paper 199.3 -367.2 -232.5
54 U.S. government
securities 282.2 428.3 455.2
55 Municipal securities 60.1 106.9 113.9
56 Corporate and foreign
bonds 442.6 893.7 617.4
57 Bank loans n.e.c. 67.1 34.1 -156.5
58 Other loans and advances 115.8 83.7 92.5
59 Mortgages 551.3 555.6 839.4
60 Consumer credit 123.7 158.1 72.8
Funds raised through mutual
funds and corporate equities
61 Total net issues -166.0 170.0 427.6
62 Corporate equities -322.7 73.6 143.8
63 Nonfinancial
corporations -394.8 -33.9 -35.2
64 Foreign shares
purchased by U.S.
residents 89.4 109.2 208.8
65 Financial corporations -17.4 -1.8 -29.9
66 Mutual fund shares 156.7 96.4 283.8
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.2 through F.4. For ordering address, see
inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS (1)
Billions of dollars except as noted; quarterly data at seasonally
adjusted annual rates
Transaction
category or sector 1995 1996 1997
NET LENDING IN
CREDIT MARKETS (2)
1 Total net lending in
credit markets 1,238.5 (r) 1,367.2 (r) 1,530.0 (r)
2 Domestic nonfederal
nonfinancial
sectors -79.3 (r) 69.7 (r) -29.7 (r)
3 Household 16.5 (r) 109.4 (r) -20.2 (r)
4 Nonfinancial corporate
business -8.8 -10.2 -12.7
5 Nonfarm noncorporate
business 4.4 (r) 4.2 (r) 3.0 (r)
6 State and local
governments -91.4 -33.7 .1
7 Federal government -.5 -7.2 5.1
8 Rest of the world 273.9 414.4 311.3
9 Financial sectors 1,044.4 (r) 890.3 (r) 1,243.3 (r)
10 Monetary authority 12.7 12.3 38.3
11 Commercial banking 265.9 187.5 324.3
12 U.S.-chartered banks 186.5 119.6 274.9
13 Foreign banking
offices in
United States 75.4 63.3 40.2
14 Bank holding
companies -.3 3.9 5.4
15 Banks in U.S.-
affiliated areas 4.2 .7 3.7
16 Savings institutions -7.6 19.9 -4.7
17 Credit unions 16.2 25.5 16.8
18 Bank personal trusts
and estates -8.3 -7.7 -25.0
19 Life insurance
companies 100.0 69.6 104.8
20 Other insurance
companies 21.5 22.5 25.2
21 Private pension funds 19.9 -4.1 47.6
22 State and local
government
retirement funds 38.3 35.8 67.1
23 Money market mutual
funds 86.5 88.8 87.5
24 Mutual funds 52.5 48.9 80.9
25 Closed-end funds 10.2 (r) 4.6 (r) -2.6
26 Government-sponsored
enterprises 95.4 (r) 97.4 (r) 106.6 (r)
27 Federally related
mortgage pools 98.3 141.0 114.6
28 Asset-backed securities
issuers (ABSs) 120.6 120.5 163.8
29 Finance companies 49.9 18.4 21.9
30 Mortgage companies -3.4 8.2 -9.1
31 Real estate investment
trusts (REITs) 1.4 4.4 20.2
32 Brokers and dealers 90.1 -15.7 14.9
33 Funding corporations -15.7 12.6 50.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,238.5 (r) 1,367.2 (r) 1,530.0 (r)
Other financial sources
35 Official foreign exchange 8.8 -6.3 .7
36 Special drawing rights
certificates 2.2 -.5 -.5
37 Treasury currency .7 .5 .5
38 Foreign deposits 35.3 85.9 107.7 (r)
39 Net interbank
transactions 10.0 -51.6 -19.7
40 Checkable deposits and
currency -12.8 15.7 41.2
41 Small time and savings
deposits 96.6 97.2 97.1
42 Large time deposits 65.6 114.0 122.5
43 Money market fund shares 141.2 145.4 155.9
44 Security repurchase
agreements 110.5 41.4 120.9
45 Corporate equities -.6 (r) -5.8 (r) -83.3 (r)
46 Mutual fund shares 147.4 237.6 265.1
47 Trade payables 133.7 (r) 123.3 (r) 139.7 (r)
48 Security credit 26.7 52.4 111.0
49 Life insurance reserves 45.8 44.5 59.3
50 Pension fund reserves 158.8 148.3 201.4
51 Taxes payable 7.8 (r) 19.5 (r) 22.3 (r)
52 Investment in bank
personal trusts 6.4 -5.3 -49.9
53 Noncorporate proprietors'
equity -.2 (r) -31.6 (r) -71.8 (r)
54 Miscellaneous 496.9 (r) 525.0 (r) 490.6 (r)
55 Total financial sources 2,719.2 (r) 2,917.0 (r) 3,240.6 (r)
Liabilities not
identified as
assets (-)
56 Treasury currency -.3 -.4 -.2
57 Foreign deposits 25.1 59.6 106.2 (r)
58 Net interbank liabilities -3.1 -3.3 -19.9
59 Security repurchase
agreements 25.7 2.4 63.2
60 Taxes payable 21.1 23.1 28.0
61 Miscellaneous -197.1 (r) -124.5 (r) -126.4 (r)
Floats not included in
assets (-)
62 Federal government
checkable deposits -6.0 .5 -2.7
63 Other checkable deposits -3.8 -4.0 -3.9
64 Trade credit 17.4 (r) -25.4 (r) -29.2 (r)
65 Total identified to
sectors as assets 2,840.3 (r) 2,989.2 (r) 3,225.4 (r)
1999
Transaction
category or sector 1998 1999 Q4 (r)
NET LENDING IN
CREDIT MARKETS (2)
1 Total net lending in
credit markets 2,140.7 (r) 2,203.1 (r) 1,983.8
2 Domestic nonfederal
nonfinancial
sectors 86.3 (r) 189.2 (r) -32.2
3 Household -50.4 (r) 141.5 (r) -.2
4 Nonfinancial corporate
business -16.0 -2.8 -41.1
5 Nonfarm noncorporate
business 18.1 (r) 7.1 (r) 6.9
6 State and local
governments 134.5 43.4 2.3
7 Federal government 13.5 5.8 -11.8
8 Rest of the world 254.2 208.8 (r) 136.0
9 Financial sectors 1,786.7 (r) 1,799.2 (r) 1,891.8
10 Monetary authority 21.1 25.7 -49.1
11 Commercial banking 305.2 308.2 500.4
12 U.S.-chartered banks 312.0 317.6 417.4
13 Foreign banking
offices in
United States -11.9 -20.1 34.1
14 Bank holding
companies -.9 6.2 42.6
15 Banks in U.S.-
affiliated areas 6.0 4.4 6.3
16 Savings institutions 36.1 68.6 23.1
17 Credit unions 19.0 27.5 21.1
18 Bank personal trusts
and estates -12.8 27.8 27.8
19 Life insurance
companies 76.9 53.5 27.4
20 Other insurance
companies 5.8 (r) -3.0 (r) -8.2
21 Private pension funds 56.4 45.0 49.8
22 State and local
government
retirement funds 72.1 46.9 46.2
23 Money market mutual
funds 244.0 182.0 355.1
24 Mutual funds 124.8 47.2 -23.2
25 Closed-end funds 5.5 7.4 (r) 7.4
26 Government-sponsored
enterprises 314.6 (r) 291.7 (r) 253.7
27 Federally related
mortgage pools 192.6 273.8 184.5
28 Asset-backed securities
issuers (ABSs) 281.7 205.2 76.1
29 Finance companies 51.9 94.9 96.3
30 Mortgage companies 3.2 .3 12.3
31 Real estate investment
trusts (REITs) -5.1 -2.6 -7.0
32 Brokers and dealers 6.8 -34.7 -42.2
33 Funding corporations -12.9 (r) 133.8 (r) 340.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,140.7 (r) 2,203.1 (r) 1,983.8
Other financial sources
35 Official foreign exchange 6.6 -8.7 -7.0
36 Special drawing rights
certificates .0 -3.0 -4.0
37 Treasury currency .6 1.0 .0
38 Foreign deposits 6.5 (r) 61.0 (r) -35.4
39 Net interbank
transactions -32.3 17.6 -17.2
40 Checkable deposits and
currency 47.4 151.4 368.9
41 Small time and savings
deposits 152.4 44.7 44.5
42 Large time deposits 92.1 130.6 348.3
43 Money market fund shares 287.2 249.1 455.8
44 Security repurchase
agreements 91.3 169.7 260.8
45 Corporate equities -171.8 (r) -42.1 (r) 8.0
46 Mutual fund shares 274.6 188.3 160.2
47 Trade payables 109.2 (r) 222.3 (r) 255.4
48 Security credit 103.3 104.3 337.0
49 Life insurance reserves 48.0 50.8 57.6
50 Pension fund reserves 202.1 184.5 166.2
51 Taxes payable 21.3 (r) 22.3 (r) 31.2
52 Investment in bank
personal trusts -41.8 (r) -6.5 (r) -7.6
53 Noncorporate proprietors'
equity -74.0 (r) -49.1 (r) -48.2
54 Miscellaneous 1,002.5 (r) 738.1 (r) 677.5
55 Total financial sources 4,265.8 (r) 4,429.2 (r) 5,035.7
Liabilities not
identified as
assets (-)
56 Treasury currency -.1 -.7 -2.2
57 Foreign deposits -8.5 (r) 45.8 (r) 26.2
58 Net interbank liabilities 3.4 3.5 -37.7
59 Security repurchase
agreements 60.6 (r) 30.0 (r) -250.9
60 Taxes payable 19.7 (r) 6.5 (r) 3.6
61 Miscellaneous -137.7 (r) -373.6 (r) -200.1
Floats not included in
assets (-)
62 Federal government
checkable deposits 2.6 -7.4 -20.0
63 Other checkable deposits -3.1 -.8 -.2
64 Trade credit -51.3 (r) 42.9 (r) 185.3
65 Total identified to
sectors as assets 4,380.3 (r) 4,683.0 (r) 5,331.7
2000 (r)
Transaction
category or sector Q1 Q2 Q3
NET LENDING IN
CREDIT MARKETS (2)
1 Total net lending in
credit markets 1,668.1 1,902.9 1,687.9
2 Domestic nonfederal
nonfinancial
sectors -227.3 133.4 -231.3
3 Household -283.0 31.2 -160.1
4 Nonfinancial corporate
business 56.5 61.9 -50.8
5 Nonfarm noncorporate
business -2.1 .4 -4.0
6 State and local
governments 1.2 39.9 -16.4
7 Federal government 6.5 7.7 4.5
8 Rest of the world 315.2 197.9 216.2
9 Financial sectors 1,573.7 1,563.8 1,698.6
10 Monetary authority 102.0 -5.4 39.1
11 Commercial banking 415.8 497.4 363.2
12 U.S.-chartered banks 448.2 510.9 324.8
13 Foreign banking
offices in
United States 4.5 -22.3 32.8
14 Bank holding
companies -42.2 3.5 -6.7
15 Banks in U.S.-
affiliated areas 5.4 5.4 12.3
16 Savings institutions 55.6 65.0 62.7
17 Credit unions 35.7 31.6 21.2
18 Bank personal trusts
and estates 18.9 13.8 17.6
19 Life insurance
companies 65.0 52.9 74.8
20 Other insurance
companies -11.2 -18.1 6.2
21 Private pension funds 46.8 24.7 64.9
22 State and local
government
retirement funds 63.3 31.5 37.6
23 Money market mutual
funds 161.5 -118.2 256.1
24 Mutual funds -66.9 63.1 50.1
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 205.4 250.9 188.6
27 Federally related
mortgage pools 119.5 132.2 236.7
28 Asset-backed securities
issuers (ABSs) 154.2 111.4 120.9
29 Finance companies 144.0 138.9 91.6
30 Mortgage companies -6.0 5.5 -.5
31 Real estate investment
trusts (REITs) -16.3 -2.5 -3.6
32 Brokers and dealers 101.9 90.0 152.7
33 Funding corporations -7.2 207.7 -72.9
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,668.1 1,902.9 1,687.9
Other financial sources
35 Official foreign exchange 1.5 -8.8 .7
36 Special drawing rights
certificates .0 -8.0 -4.0
37 Treasury currency 2.2 3.2 4.2
38 Foreign deposits 313.3 3.4 -40.8
39 Net interbank
transactions -72.9 151.9 -170.6
40 Checkable deposits and
currency -206.8 -33.8 5.0
41 Small time and savings
deposits 104.6 123.0 224.5
42 Large time deposits 154.1 101.2 152.9
43 Money market fund shares 239.7 71.5 250.9
44 Security repurchase
agreements 275.0 155.2 278.0
45 Corporate equities 80.4 -68.7 -68.1
46 Mutual fund shares 307.3 232.0 279.4
47 Trade payables 193.5 193.9 132.8
48 Security credit 485.0 -91.4 94.7
49 Life insurance reserves 54.9 45.6 53.0
50 Pension fund reserves 210.8 260.8 227.1
51 Taxes payable 30.9 31.8 -1.6
52 Investment in bank
personal trusts -28.4 -33.1 -29.2
53 Noncorporate proprietors'
equity -48.6 -28.8 -10.7
54 Miscellaneous 999.5 1,089.7 1,283.9
55 Total financial sources 4,764.2 4,093.4 4,350.2
Liabilities not
identified as
assets (-)
56 Treasury currency -1.8 -.7 .9
57 Foreign deposits 262.7 -81.9 -99.2
58 Net interbank liabilities 25.3 5.4 -12.1
59 Security repurchase
agreements 566.4 52.0 127.4
60 Taxes payable 9.4 10.0 -7.5
61 Miscellaneous -417.8 -352.7 -275.6
Floats not included in
assets (-)
62 Federal government
checkable deposits 18.7 16.3 3.0
63 Other checkable deposits 1.0 1.4 1.9
64 Trade credit -72.1 -50.0 -49.4
65 Total identified to
sectors as assets 4,372.4 4,493.7 4,660.7
2000
(r) 2001
Transaction
category or sector Q4 Q1 (r) Q2
NET LENDING IN
CREDIT MARKETS (2)
1 Total net lending in
credit markets 1,842.1 1,893.2 1,802.2
2 Domestic nonfederal
nonfinancial
sectors -155.8 -222.5 -63.2
3 Household -136.4 -259.9 13.2
4 Nonfinancial corporate
business -28.7 40.6 -46.5
5 Nonfarm noncorporate
business -2.7 -4.8 -5.2
6 State and local
governments 12.1 1.5 -24.8
7 Federal government 10.6 4.6 9.4
8 Rest of the world 387.8 410.8 344.0
9 Financial sectors 1,599.5 1,700.3 1,511.9
10 Monetary authority -.9 53.7 26.4
11 Commercial banking 157.0 152.8 158.4
12 U.S.-chartered banks 75.3 107.9 179.7
13 Foreign banking
offices in
United States 81.1 41.3 -22.7
14 Bank holding
companies -3.2 7.3 -2.8
15 Banks in U.S.-
affiliated areas 3.8 -3.6 4.2
16 Savings institutions 42.5 52.5 56.2
17 Credit unions 33.6 3.9 24.6
18 Bank personal trusts
and estates 18.1 10.7 13.4
19 Life insurance
companies 38.8 95.3 101.2
20 Other insurance
companies -11.7 2.1 2.8
21 Private pension funds 28.7 26.1 20.2
22 State and local
government
retirement funds 66.1 13.3 17.7
23 Money market mutual
funds 296.0 303.4 166.2
24 Mutual funds 60.8 69.4 130.9
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored
enterprises 318.8 347.8 302.4
27 Federally related
mortgage pools 309.1 170.3 406.5
28 Asset-backed securities
issuers (ABSs) 278.9 269.8 159.4
29 Finance companies 23.1 -3.9 85.5
30 Mortgage companies 2.0 1.4 1.1
31 Real estate investment
trusts (REITs) -2.8 4.0 1.1
32 Brokers and dealers -69.0 311.4 13.8
33 Funding corporations 19.0 -175.3 -167.5
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,842.1 1,893.2 1,802.2
Other financial sources
35 Official foreign exchange 4.9 -1.5 4.7
36 Special drawing rights
certificates -4.0 .0 .0
37 Treasury currency .0 -1.1 1.1
38 Foreign deposits 207.4 235.5 -146.5
39 Net interbank
transactions 10.6 -202.4 177.0
40 Checkable deposits and
currency -50.2 90.3 101.0
41 Small time and savings
deposits 310.8 288.3 193.1
42 Large time deposits 65.2 130.6 65.9
43 Money market fund shares 371.1 621.4 322.5
44 Security repurchase
agreements -264.6 11.2 155.2
45 Corporate equities -322.7 73.6 143.8
46 Mutual fund shares 156.7 96.4 283.8
47 Trade payables 105.4 -21.8 -10.1
48 Security credit 75.6 -64.6 -82.9
49 Life insurance reserves 47.3 52.7 59.7
50 Pension fund reserves 169.0 255.6 196.7
51 Taxes payable 25.9 .6 2.0
52 Investment in bank
personal trusts -28.0 -26.1 -22.7
53 Noncorporate proprietors'
equity -34.9 -29.3 -13.0
54 Miscellaneous 595.9 570.9 932.1
55 Total financial sources 3,283.4 3,973.5 4,165.8
Liabilities not
identified as
assets (-)
56 Treasury currency -3.3 -3.6 -.3
57 Foreign deposits 193.3 178.2 -108.2
58 Net interbank liabilities 51.1 16.7 12.9
59 Security repurchase
agreements -302.3 -141.4 121.2
60 Taxes payable 44.5 1.7 -26.9
61 Miscellaneous -403.7 -7.4 -291.1
Floats not included in
assets (-)
62 Federal government
checkable deposits -2.1 -29.8 13.8
63 Other checkable deposits 2.4 3.8 3.9
64 Trade credit 24.1 26.7 -5.0
65 Total identified to
sectors as assets 3,679.4 3,928.6 4,445.6
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.1 and F.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING (1)
Billions of dollars, end of period
Transaction
category or sector 1996 1997 1998
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 14,440.6 (r) 15,243.5 (r) 16,267.0 (r)
By sector and
instrument
2 Federal government 3,781.8 3,804.9 3,752.2
3 Treasury securities 3,755.1 3,778.3 3,723.7
4 Budget agency
securities and
mortgages 26.6 26.5 28.5
5 Nonfederal 10,658.8 (r) 11,438.6 (r) 12,514.8 (r)
By instrument
6 Commercial paper 156.4 168.6 193.0
7 Municipal securities
and loans 1,296.0 1,367.5 1,464.3
8 Corporate bonds 1,460.4 1,610.9 1,829.6
9 Bank loans n.e.c. 934.1 1,040.5 1,148.8
10 Other loans and
advances 770.4 839.5 913.8
11 Mortgages 4,830.0 (r) 5,147.6 (r) 5,633.7 (r)
12 Home 3,717.1 (r) 3,969.7 (r) 4,353.9 (r)
13 Multifamily
residential 278.2 (r) 285.8 (r) 309.7 (r)
14 Commercial 747.8 (r) 802.0 (r) 873.5 (r)
15 Farm 86.9 (r) 90.0 (r) 96.6 (r)
16 Consumer credit 1,211.6 1,264.1 1,331.7
By borrowing sector
17 Household 5,218.6 (r) 5,540.9 (r) 5,995.1 (r)
18 Nonfinancial
business 4,376.8 (r) 4,778.2 (r) 5,319.9 (r)
19 Corporate 3,097.3 (r) 3,396.9 (r) 3,791.6 (r)
20 Nonfarm
noncorporate 1,129.8 (r) 1,225.5 (r) 1,364.4 (r)
21 Farm 149.7 (r) 155.9 (r) 163.9 (r)
22 State and local
government 1,063.4 1,119.5 1,199.8
23 Foreign credit market
debt held in
United States 542.2 608.0 651.5 (r)
24 Commercial paper 67.5 65.1 72.9
25 Bonds 366.3 427.7 462.6 (r)
26 Bank loans n.e.c. 43.7 52.1 58.9
27 Other loans and
advances 64.7 63.0 57.2
28 Total credit market
debt owed by
nonfinancial
sectors, domes-
tic and foreign 14,982.7 (r) 15,851.5 (r) 16,918.5 (r)
Financial sectors
29 Total credit market
debt owed by
financial
sectors 4,824.5 5,445.2 6,519.1
By instrument
30 Federal government-
related 2,608.2 2,821.1 3,292.0
31 Government-sponsored
enterprise
securities 896.9 995.3 1,273.6
32 Mortgage pool
securities 1,711.3 1,825.8 2,018.4
33 Loans from U.S.
government .0 .0 .0
34 Private 2,216.3 2,624.1 3,227.0 (r)
35 Open market paper 579.1 745.7 906.7
36 Corporate bonds 1,378.4 1,555.9 1,852.8
37 Bank loans n.e.c. 64.0 77.2 107.2
38 Other loans and
advances 162.9 198.5 288.7
39 Mortgages 31.9 46.8 71.6
By borrowing sector
40 Commercial banks 113.6 140.6 188.6
41 Bank holding companies 150.0 168.6 193.5
42 Savings institutions 140.5 160.3 212.4
43 Credit unions .4 .6 1.1
44 Life insurance
companies 1.6 1.8 2.5
45 Government-sponsored
enterprises 896.9 995.3 1,273.6
46 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4
47 Issuers of asset-
backed securi-
ties (ABSs) 863.3 1,076.6 1,398.0
48 Brokers and dealers 27.3 35.3 42.5
49 Finance companies 529.8 554.5 597.5
50 Mortgage companies 20.6 16.0 17.7
51 Real estate investment
trusts (REITs) 56.5 96.1 158.8
52 Funding corporations 312.7 373.7 414.4
All sectors
53 Total credit market
debt, domestic
and foreign 19,807.2 (r) 21,296.7 (r) 23,437.6 (r)
54 Open market paper 803.0 979.4 1,172.6
55 U.S. government
securities 6,389.9 6,626.0 7,044.3
56 Municipal securities 1,296.0 1,367.5 1,464.3
57 Corporate and foreign
bonds 3,205.1 3,594.5 4,144.9
58 Bank loans n.e.c. 1,041.7 1,169.8 1,314.9
59 Other loans and
advances 998.0 1,101.0 1,259.6
60 Mortgages 4,861.9 (r) 5,194.4 (r) 5,705.3 (r)
61 Consumer credit 1,211.6 1,264.1 1,331.7
1999 2000
Transaction
category or sector 1999 Q4 Q1
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 17,399.6 (r) 17,399.6 (r) 17,629.0 (r)
By sector and
instrument
2 Federal government 3,681.0 3,681.0 3,653.5
3 Treasury securities 3,652.8 3,652.8 3,625.8
4 Budget agency
securities and
mortgages 28.3 28.3 27.8
5 Nonfederal 13,718.5 (r) 13,718.5 (r) 13,975.5 (r)
By instrument
6 Commercial paper 230.3 230.3 260.8
7 Municipal securities
and loans 1,532.5 1,532.5 1,539.2
8 Corporate bonds 2,059.5 2,059.5 2,106.0
9 Bank loans n.e.c. 1,231.5 1,231.5 1,259.1
10 Other loans and
advances 974.6 974.6 1,020.1
11 Mortgages 6,264.0 (r) 6,264.0 (r) 6,374.3 (r)
12 Home 4,783.5 (r) 4,783.5 (r) 4,858.0 (r)
13 Multifamily
residential 352.6 (r) 352.6 (r) 360.3 (r)
14 Commercial 1,025.6 (r) 1,025.6 (r) 1,051.7 (r)
15 Farm 102.3 (r) 102.3 (r) 104.2 (r)
16 Consumer credit 1,426.2 1,426.2 1,416.0
By borrowing sector
17 Household 6,501.7 (r) 6,501.7 (r) 6,566.0 (r)
18 Nonfinancial
business 5,964.7 (r) 5,964.7 (r) 6,152.2 (r)
19 Corporate 4,275.2 (r) 4,275.2 (r) 4,427.2 (r)
20 Nonfarm
noncorporate 1,520.1 (r) 1,520.1 (r) 1,554.3 (r)
21 Farm 169.4 (r) 169.4 (r) 170.7 (r)
22 State and local
government 1,252.1 1,252.1 1,257.3
23 Foreign credit market
debt held in
United States 679.6 (r) 679.6 (r) 707.1 (r)
24 Commercial paper 89.2 89.2 101.6
25 Bonds 479.4 (r) 479.4 (r) 490.6 (r)
26 Bank loans n.e.c. 59.4 59.4 63.3
27 Other loans and
advances 51.7 51.7 51.7
28 Total credit market
debt owed by
nonfinancial
sectors, domes-
tic and foreign 18,079.2 (r) 18,079.2 (r) 18,336.1 (r)
Financial sectors
29 Total credit market
debt owed by
financial
sectors 7,596.3 7,596.3 7,734.2 (r)
By instrument
30 Federal government-
related 3,884.0 3,884.0 3,940.1
31 Government-sponsored
enterprise
securities 1,591.7 1,591.7 1,618.0
32 Mortgage pool
securities 2,292.2 2,292.2 2,322.1
33 Loans from U.S.
government .0 .0 .0
34 Private 3,712.4 3,712.4 3,794.2 (r)
35 Open market paper 1,082.9 1,082.9 1,115.7
36 Corporate bonds 2,064.0 2,064.0 2,104.2 (r)
37 Bank loans n.e.c. 92.9 92.9 91.4
38 Other loans and
advances 395.8 395.8 404.4
39 Mortgages 76.7 76.7 78.5
By borrowing sector
40 Commercial banks 230.0 230.0 242.2
41 Bank holding companies 219.3 219.3 221.4
42 Savings institutions 260.4 260.4 266.9
43 Credit unions 3.4 3.4 2.6
44 Life insurance
companies 3.2 3.2 3.0
45 Government-sponsored
enterprises 1,591.7 1,591.7 1,618.0
46 Federally related
mortgage pools 2,292.2 2,292.2 2,322.1
47 Issuers of asset-
backed securi-
ties (ABSs) 1,621.4 1,621.4 1,655.8 (r)
48 Brokers and dealers 25.3 25.3 36.4
49 Finance companies 659.9 659.9 670.7
50 Mortgage companies 17.8 17.8 17.1
51 Real estate investment
trusts (REITs) 165.1 165.1 167.9
52 Funding corporations 506.6 506.6 510.1
All sectors
53 Total credit market
debt, domestic
and foreign 25,675.5 (r) 25,675.5 (r) 26,070.3 (r)
54 Open market paper 1,402.4 1,402.4 1,478.1
55 U.S. government
securities 7,565.0 7,565.0 7,593.6
56 Municipal securities 1,532.5 1,532.5 1,539.2
57 Corporate and foreign
bonds 4,602.8 (r) 4,602.8 (r) 4,700.8 (r)
58 Bank loans n.e.c. 1,383.8 1,383.8 1,413.7
59 Other loans and
advances 1,422.1 1,422.1 1,476.2
60 Mortgages 6,340.7 (r) 6,340.7 (r) 6,452.7 (r)
61 Consumer credit 1,426.2 1,426.2 1,416.0
2000
Transaction
category or sector Q2 Q3 Q4 (r)
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 17,807.7 (r) 18,008.0 (r) 18,287.7
By sector and
instrument
2 Federal government 3,464.0 3,410.2 3,385.2
3 Treasury securities 3,435.7 3,382.6 3,357.8
4 Budget agency
securities and
mortgages 28.2 27.6 27.3
5 Nonfederal 14,343.8 (r) 14,597.8 (r) 14,902.6
By instrument
6 Commercial paper 296.8 307.0 278.4
7 Municipal securities
and loans 1,551.6 1,550.3 1,567.8
8 Corporate bonds 2,144.5 2,190.6 2,234.5
9 Bank loans n.e.c. 1,306.4 (r) 1,311.6 1,334.6
10 Other loans and
advances 1,049.5 1,052.2 1,089.9
11 Mortgages 6,541.0 (r) 6,690.9 (r) 6,831.0
12 Home 4,982.3 (r) 5,100.0 (r) 5,200.7
13 Multifamily
residential 372.6 (r) 379.9 (r) 390.3
14 Commercial 1,079.4 (r) 1,102.7 (r) 1,130.6
15 Farm 106.8 (r) 108.3 (r) 109.3
16 Consumer credit 1,454.0 1,495.3 1,566.5
By borrowing sector
17 Household 6,727.4 (r) 6,890.5 (r) 7,063.8
18 Nonfinancial
business 6,350.7 (r) 6,444.3 (r) 6,559.4
19 Corporate 4,574.2 (r) 4,634.8 (r) 4,712.7
20 Nonfarm
noncorporate 1,600.3 (r) 1,631.5 (r) 1,666.1
21 Farm 176.2 (r) 177.9 (r) 180.7
22 State and local
government 1,265.7 1,263.1 1,279.3
23 Foreign credit market
debt held in
United States 716.4 (r) 749.9 (r) 775.8
24 Commercial paper 101.2 109.8 120.9
25 Bonds 498.4 (r) 521.3 (r) 533.7
26 Bank loans n.e.c. 64.7 67.7 70.7
27 Other loans and
advances 52.1 51.2 50.5
28 Total credit market
debt owed by
nonfinancial
sectors, domes-
tic and foreign 18,524.2 (r) 18,757.9 (r) 19,063.5
Financial sectors
29 Total credit market
debt owed by
financial
sectors 7,955.4 (r) 8,148.7 (r) 8,418.4
By instrument
30 Federal government-
related 4,035.3 4,164.0 4,317.4
31 Government-sponsored
enterprise
securities 1,680.2 1,749.7 1,825.8
32 Mortgage pool
securities 2,355.2 2,414.3 2,491.6
33 Loans from U.S.
government .0 .0 .0
34 Private 3,920.1 (r) 3,984.6 (r) 4,101.0
35 Open market paper 1,135.2 1,151.6 1,210.7
36 Corporate bonds 2,173.5 (r) 2,228.0 (r) 2,276.5
37 Bank loans n.e.c. 93.6 (r) 92.5 92.6
38 Other loans and
advances 436.9 430.2 438.3
39 Mortgages 81.0 82.5 82.9
By borrowing sector
40 Commercial banks 265.4 265.2 266.7
41 Bank holding companies 229.3 236.9 242.5
42 Savings institutions 280.7 276.0 287.7
43 Credit unions 2.9 3.1 3.4
44 Life insurance
companies 2.7 2.7 2.5
45 Government-sponsored
enterprises 1,680.2 1,749.7 1,825.8
46 Federally related
mortgage pools 2,355.2 2,414.3 2,491.6
47 Issuers of asset-
backed securi-
ties (ABSs) 1,697.0 (r) 1,742.3 (r) 1,829.6
48 Brokers and dealers 36.2 42.6 40.9
49 Finance companies 712.7 (r) 716.5 734.6
50 Mortgage companies 17.8 17.7 17.9
51 Real estate investment
trusts (REITs) 170.4 169.8 167.8
52 Funding corporations 505.1 (r) 511.9 507.3
All sectors
53 Total credit market
debt, domestic
and foreign 26,479.6 (r) 26,906.6 (r) 27,481.9
54 Open market paper 1,533.3 1,568.3 1,610.0
55 U.S. government
securities 7,499.3 7,574.2 7,702.6
56 Municipal securities 1,551.6 1,550.3 1,567.8
57 Corporate and foreign
bonds 4,816.3 (r) 4,939.8 (r) 5,044.6
58 Bank loans n.e.c. 1,464.6 1,471.7 1,497.9
59 Other loans and
advances 1,538.5 1,533.6 1,578.6
60 Mortgages 6,622.0 (r) 6,773.4 (r) 6,913.9
61 Consumer credit 1,454.0 1,495.3 1,566.5
2001
Transaction
category or sector Q1 (r) Q2
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 18,529.3 18,716.5
By sector and
instrument
2 Federal government 3,408.8 3,261.4
3 Treasury securities 3,382.1 3,234.4
4 Budget agency
securities and
mortgages 26.8 27.0
5 Nonfederal 15,120.5 15,455.1
By instrument
6 Commercial paper 253.2 223.3
7 Municipal securities
and loans 1,596.6 1,629.3
8 Corporate bonds 2,335.4 2,441.3
9 Bank loans n.e.c. 1,324.0 1,295.3
10 Other loans and
advances 1,096.0 1,119.5
11 Mortgages 6,956.7 7,165.3
12 Home 5,293.5 5,449.7
13 Multifamily
residential 400.4 414.5
14 Commercial 1,152.3 1,188.3
15 Farm 110.4 112.7
16 Consumer credit 1,558.6 1,581.1
By borrowing sector
17 Household 7,133.7 7,307.6
18 Nonfinancial
business 6,680.2 6,810.2
19 Corporate 4,803.3 4,897.5
20 Nonfarm
noncorporate 1,696.7 1,727.9
21 Farm 180.2 184.8
22 State and local
government 1,306.5 1,337.3
23 Foreign credit market
debt held in
United States 776.5 776.3
24 Commercial paper 112.8 110.1
25 Bonds 542.0 551.0
26 Bank loans n.e.c. 73.9 67.2
27 Other loans and
advances 47.7 47.9
28 Total credit market
debt owed by
nonfinancial
sectors, domes-
tic and foreign 19,305.8 19,492.8
Financial sectors
29 Total credit market
debt owed by
financial
sectors 8,626.0 8,816.7
By instrument
30 Federal government-
related 4,425.6 4,593.4
31 Government-sponsored
enterprise
securities 1,891.4 1,957.6
32 Mortgage pool
securities 2,534.2 2,635.8
33 Loans from U.S.
government .0 .0
34 Private 4,200.4 4,223.3
35 Open market paper 1,180.8 1,144.5
36 Corporate bonds 2,390.5 2,442.7
37 Bank loans n.e.c. 97.1 100.3
38 Other loans and
advances 450.9 450.7
39 Mortgages 81.1 85.1
By borrowing sector
40 Commercial banks 273.8 274.7
41 Bank holding companies 266.5 269.1
42 Savings institutions 295.1 294.5
43 Credit unions 3.2 3.5
44 Life insurance
companies 1.9 1.9
45 Government-sponsored
enterprises 1,891.4 1,957.6
46 Federally related
mortgage pools 2,534.2 2,635.8
47 Issuers of asset-
backed securi-
ties (ABSs) 1,892.2 1,940.8
48 Brokers and dealers 35.0 43.9
49 Finance companies 721.4 727.1
50 Mortgage companies 18.1 18.2
51 Real estate investment
trusts (REITs) 166.2 166.8
52 Funding corporations 526.9 482.9
All sectors
53 Total credit market
debt, domestic
and foreign 27,931.7 28,309.5
54 Open market paper 1,546.8 1,477.9
55 U.S. government
securities 7,834.4 7,854.8
56 Municipal securities 1,596.6 1,629.3
57 Corporate and foreign
bonds 5,267.9 5,435.1
58 Bank loans n.e.c. 1,495.1 1,462.9
59 Other loans and
advances 1,594.6 1,618.1
60 Mortgages 7,037.8 7,250.4
61 Consumer credit 1,558.6 1,581.1
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables L.2 through L.4. For ordering address, see
inside front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction
category or sector 1996 1997 1998
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 19,807.2 (r) 21,296.7 (r) 23,437.6 (r)
2 Domestic nonfederal
nonfinancial
sectors 3,007.3 (r) 2,933.8 (r) 2,991.8 (r)
3 Household 2,082.5 (r) 2,018.6 (r) 1,941.8 (r)
4 Nonfinancial corpo-
rate business 270.2 257.5 241.5
5 Nonfarm noncorpo-
rate business 49.7 (r) 52.7 (r) 69.1 (r)
6 State and local
governments 604.8 605.0 739.4
7 Federal government 200.2 205.4 219.1
8 Rest of the world 1,926.6 2,257.3 2,539.8
9 Financial sectors 14,673.2 (r) 15,900.1 (r) 17,686.8 (r)
10 Monetary authority 393.1 431.4 452.5
11 Commercial banking 3,707.7 4,031.9 4,335.7
12 U.S.-chartered
banks 3,175.8 3,450.7 3,761.2
13 Foreign banking
offices in
United States 475.8 516.1 504.2
14 Bank holding
companies 22.0 27.4 26.5
15 Banks in U.S.-
affiliated
areas 34.1 37.8 43.8
16 Savings
institutions 933.2 928.5 964.6
17 Credit unions 288.5 305.3 324.2
18 Bank personal
trusts and
estates 232.0 207.0 194.1
19 Life insurance
companies 1,657.0 1,751.1 1,828.0
20 Other insurance
companies 491.2 515.3 521.1 (r)
21 Private pension
funds 627.0 674.6 731.0
22 State and local
government
retirement
funds 565.4 632.5 704.6
23 Money market mutual
funds 634.3 721.9 965.9
24 Mutual funds 820.2 901.1 1,025.9
25 Closed-end funds 100.8 (r) 98.3 (r) 103.7 (r)
26 Government-
sponsored
enterprises 832.8 (r) 939.4 (r) 1,253.9 (r)
27 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4
28 Asset-backed
securities
issuers (ABSs) 773.9 937.7 1,219.4
29 Finance companies 544.5 566.4 618.4
30 Mortgage companies 41.2 32.1 35.3
31 Real estate
investment
trusts (REITs) 30.4 50.6 45.5
32 Brokers and dealers 167.7 182.6 189.4
33 Funding
corporations 121.0 166.7 155.3 (r)
RELATION OF
LIABILITIES TO
FINANCIAL ASSETS
34 Total credit market
debt 19,807.2 (r) 21,296.7 (r) 23,437.6 (r)
Other liabilities
35 Official foreign
exchange 53.7 48.9 60.1
36 Special drawing
rights
certificates 9.7 9.2 9.2
37 Treasury currency 18.9 19.3 19.9
38 Foreign deposits 521.7 618.5 (r) 642.3 (r)
39 Net interbank
liabilities 240.8 219.4 189.0
40 Checkable deposits
and currency 1,244.8 1,286.1 1,333.4
41 Small time and
savings
deposits 2,377.0 2,474.1 2,626.5
42 Large time deposits 590.9 713.4 805.5
43 Money market fund
shares 886.7 1,042.5 1,329.7
44 Security repurchase
agreements 701.5 822.4 913.7
45 Mutual fund shares 2,342.4 2,989.4 3,610.5
46 Security credit 358.1 469.1 572.3
47 Life insurance
reserves 610.6 665.0 718.3
48 Pension fund reserves 6,325.1 7,323.4 8,193.7
49 Trade payables 1,827.6 (r) 1,967.3 (r) 2,076.5 (r)
50 Taxes payable 128.8 (r) 151.1 (r) 172.4 (r)
51 Investment in bank
personal trusts 871.3 942.5 1,001.0
52 Miscellaneous 6,386.0 (r) 6,727.4 (r) 7,475.3 (r)
53 Total liabilities 45,302.7 (r) 49,785.5 (r) 55,186.9 (r)
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.1 21.6
55 Corporate equities 10,255.8 13,202.0 (r) 15,492.5
56 Household equity in
noncorporate
business 3,787.8 (r) 4,053.2 (r) 4,398.7 (r)
Liabilities not
identified as
assets (-)
57 Treasury currency -6.1 -6.3 -6.4
58 Foreign deposits 437.0 537.1 (r) 544.9 (r)
59 Net interbank
transactions -10.6 -32.2 -27.0
60 Security repurchase
agreements 109.8 172.9 233.5 (r)
61 Taxes payable 81.9 (r) 104.2 (r) 122.9 (r)
62 Miscellaneous -1,241.1 (r) -1,562.1 (r) -2,307.3 (r)
Floats not included
in assets (-)
63 Federal government
checkable
deposits -1.6 -8.1 -3.9
64 Other checkable
deposits 30.1 26.2 23.1
65 Trade credit 165.7 (r) 126.8 (r) 76.6 (r)
66 Total identified to
sectors as
assets 59,802.7 (r) 67,703.2 (r) 76,443.0 (r)
1999 2000
Transaction
category or sector 1999 Q4 Q1
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 25,675.5 (r) 25,675.5 (r) 26,070.3 (r)
2 Domestic nonfederal
nonfinancial
sectors 3,251.2 (r) 3,251.2 (r) 3,170.5 (r)
3 Household 2,151.6 (r) 2,151.6 (r) 2,079.2 (r)
4 Nonfinancial corpo-
rate business 238.7 238.7 230.8 (r)
5 Nonfarm noncorpo-
rate business 78.0 (r) 78.0 (r) 77.5 (r)
6 State and local
governments 782.8 782.8 782.9
7 Federal government 258.0 258.0 259.6
8 Rest of the world 2,676.2 (r) 2,676.2 (r) 2,760.7 (r)
9 Financial sectors 19,490.2 (r) 19,490.2 (r) 19,879.5 (r)
10 Monetary authority 478.1 478.1 501.9
11 Commercial banking 4,643.9 4,643.9 4,725.0
12 U.S.-chartered
banks 4,078.9 4,078.9 4,171.3
13 Foreign banking
offices in
United States 484.1 484.1 482.0
14 Bank holding
companies 32.7 32.7 22.1
15 Banks in U.S.-
affiliated
areas 48.3 48.3 49.6
16 Savings
institutions 1,033.2 1,033.2 1,045.8
17 Credit unions 351.7 351.7 359.0
18 Bank personal
trusts and
estates 222.0 222.0 226.7
19 Life insurance
companies 1,886.0 1,886.0 1,902.2 (r)
20 Other insurance
companies 518.2 (r) 518.2 (r) 515.4 (r)
21 Private pension
funds 775.9 775.9 787.6
22 State and local
government
retirement
funds 751.4 751.4 767.2
23 Money market mutual
funds 1,147.8 1,147.8 1,217.1
24 Mutual funds 1,073.1 1,073.1 1,053.7
25 Closed-end funds 111.1 (r) 111.1 (r) 109.0 (r)
26 Government-
sponsored
enterprises 1,545.6 (r) 1,545.6 (r) 1,584.0 (r)
27 Federally related
mortgage pools 2,292.2 2,292.2 2,322.1
28 Asset-backed
securities
issuers (ABSs) 1,424.6 1,424.6 1,453.8 (r)
29 Finance companies 713.3 713.3 747.0
30 Mortgage companies 35.6 35.6 34.1
31 Real estate
investment
trusts (REITs) 42.9 42.9 38.8
32 Brokers and dealers 154.7 154.7 194.6
33 Funding
corporations 288.8 (r) 288.8 (r) 294.5 (r)
RELATION OF
LIABILITIES TO
FINANCIAL ASSETS
34 Total credit market
debt 25,675.5 (r) 25,675.5 (r) 26,070.3 (r)
Other liabilities
35 Official foreign
exchange 50.1 50.1 49.4
36 Special drawing
rights
certificates 6.2 6.2 6.2
37 Treasury currency 20.9 20.9 21.4
38 Foreign deposits 703.6 (r) 703.6 (r) 781.9 (r)
39 Net interbank
liabilities 204.5 204.5 169.7
40 Checkable deposits
and currency 1,484.8 1,484.8 1,392.9
41 Small time and
savings
deposits 2,671.2 2,671.2 2,728.0
42 Large time deposits 936.1 936.1 966.5
43 Money market fund
shares 1,578.8 1,578.8 1,666.0
44 Security repurchase
agreements 1,083.4 1,083.4 1,149.2
45 Mutual fund shares 4,553.4 4,553.4 4,863.3
46 Security credit 676.6 676.6 795.4
47 Life insurance
reserves 783.9 783.9 801.0
48 Pension fund reserves 9,041.7 9,041.7 9,237.9
49 Trade payables 2,298.8 (r) 2,298.8 (r) 2,321.7 (r)
50 Taxes payable 194.7 (r) 194.7 (r) 210.1 (r)
51 Investment in bank
personal trusts 1,130.4 1,130.4 1,158.0 (r)
52 Miscellaneous 8,040.5 (r) 8,040.5 (r) 8,258.1 (r)
53 Total liabilities 61,135.1 (r) 61,135.1 (r) 62,646.9 (r)
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.4 21.4
55 Corporate equities 19,494.5 19,494.5 20,147.0 (r)
56 Household equity in
noncorporate
business 4,649.9 (r) 4,649.9 (r) 4,675.4 (r)
Liabilities not
identified as
assets (-)
57 Treasury currency -7.1 -7.1 -7.6
58 Foreign deposits 591.1 (r) 591.1 (r) 656.7 (r)
59 Net interbank
transactions -25.5 -25.5 -13.9
60 Security repurchase
agreements 263.6 (r) 263.6 (r) 410.3 (r)
61 Taxes payable 122.7 (r) 122.7 (r) 118.6 (r)
62 Miscellaneous -2,792.5 (r) -2,792.5 (r) -2,948.5 (r)
Floats not included
in assets (-)
63 Federal government
checkable
deposits -9.9 -9.9 -6.5
64 Other checkable
deposits 22.3 22.3 18.7
65 Trade credit 120.9 (r) 120.9 (r) 50.1 (r)
66 Total identified to
sectors as
assets 87,015.2 (r) 87,015.2 (r) 89,212.6 (r)
2000
Transaction
category or sector Q2 Q3 (r) Q4 (r)
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 26,479.6 (r) 26,906.6 27,481.9
2 Domestic nonfederal
nonfinancial
sectors 3,184.6 (r) 3,125.5 3,093.8
3 Household 2,065.0 (r) 2,021.3 1,977.3
4 Nonfinancial corpo-
rate business 246.2 (r) 238.9 248.5
5 Nonfarm noncorpo-
rate business 77.6 (r) 76.6 75.9
6 State and local
governments 795.8 788.7 792.0
7 Federal government 261.6 262.7 265.4
8 Rest of the world 2,809.9 (r) 2,861.7 3,004.6
9 Financial sectors 20,223.5 (r) 20,656.7 21,118.1
10 Monetary authority 505.1 511.5 511.8
11 Commercial banking 4,847.4 4,931.0 5,002.3
12 U.S.-chartered
banks 4,295.4 4,368.2 4,418.7
13 Foreign banking
offices in
United States 478.1 487.5 508.1
14 Bank holding
companies 23.0 21.3 20.5
15 Banks in U.S.-
affiliated
areas 51.0 54.0 55.0
16 Savings
institutions 1,062.5 1,082.2 1,089.7
17 Credit unions 370.1 (r) 376.0 382.2
18 Bank personal
trusts and
estates 230.2 234.6 239.1
19 Life insurance
companies 1,914.1 (r) 1,935.1 1,943.9
20 Other insurance
companies 510.8 (r) 512.4 509.4
21 Private pension
funds 793.8 810.0 817.2
22 State and local
government
retirement
funds 775.1 784.5 801.0
23 Money market mutual
funds 1,159.4 1,212.5 1,296.7
24 Mutual funds 1,073.9 1,088.5 1,099.9
25 Closed-end funds 106.9 (r) 104.8 102.7
26 Government-
sponsored
enterprises 1,649.2 (r) 1,704.3 1,793.7
27 Federally related
mortgage pools 2,355.2 2,414.3 2,491.6
28 Asset-backed
securities
issuers (ABSs) 1,486.3 (r) 1,522.9 1,602.9
29 Finance companies 780.6 795.5 812.6
30 Mortgage companies 35.5 35.4 35.9
31 Real estate
investment
trusts (REITs) 38.2 37.3 36.6
32 Brokers and dealers 187.9 243.3 223.6
33 Funding
corporations 341.3 (r) 320.7 325.4
RELATION OF
LIABILITIES TO
FINANCIAL ASSETS
34 Total credit market
debt 26,479.6 (r) 26,906.6 27,481.9
Other liabilities
35 Official foreign
exchange 46.5 44.9 46.0
36 Special drawing
rights
certificates 4.2 3.2 2.2
37 Treasury currency 22.1 23.2 23.2
38 Foreign deposits 782.8 (r) 772.6 824.5
39 Net interbank
liabilities 210.6 173.2 188.0
40 Checkable deposits
and currency 1,409.7 1,385.7 1,413.3
41 Small time and
savings
deposits 2,738.8 2,790.9 2,861.9
42 Large time deposits 987.4 1,025.9 1,054.5
43 Money market fund
shares 1,627.1 1,697.8 1,812.1
44 Security repurchase
agreements 1,185.0 1,238.7 1,194.3
45 Mutual fund shares 4,759.6 4,814.4 4,457.2
46 Security credit 775.5 800.4 817.6
47 Life insurance
reserves 806.5 818.7 819.1
48 Pension fund reserves 9,166.7 9,307.9 9,054.8
49 Trade payables 2,366.9 (r) 2,412.0 2,455.2
50 Taxes payable 212.7 (r) 214.8 216.4
51 Investment in bank
personal trusts 1,114.4 (r) 1,106.7 1,019.4
52 Miscellaneous 8,539.8 (r) 8,998.1 8,845.1
53 Total liabilities 63,236.0 (r) 64,535.7 64,586.8
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.5 21.4 21.5
55 Corporate equities 19,180.8 (r) 18,991.5 17,068.8
56 Household equity in
noncorporate
business 4,772.2 (r) 4,815.5 4,884.7
Liabilities not
identified as
assets (-)
57 Treasury currency -7.9 -7.6 -8.5
58 Foreign deposits 636.3 (r) 611.5 659.9
59 Net interbank
transactions -11.6 -17.6 -4.3
60 Security repurchase
agreements 422.8 (r) 446.0 374.4
61 Taxes payable 135.8 (r) 124.4 128.5
62 Miscellaneous -3,009.7 (r) -2,818.5 -3,371.8
Floats not included
in assets (-)
63 Federal government
checkable
deposits -5.2 -7.8 -2.6
64 Other checkable
deposits 22.5 15.5 24.0
65 Trade credit 12.8 (r) 2.5 88.7
66 Total identified to
sectors as
assets 89,014.9 (r) 90,015.7 88,673.3
2001
Transaction
category or sector Q1 (r) Q2
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 27,931.7 28,309.5
2 Domestic nonfederal
nonfinancial
sectors 3,009.6 2,975.0
3 Household 1,907.4 1,887.4
4 Nonfinancial corpo-
rate business 235.1 225.1
5 Nonfarm noncorpo-
rate business 74.7 73.4
6 State and local
governments 792.4 789.1
7 Federal government 266.6 268.9
8 Rest of the world 3,112.9 3,198.9
9 Financial sectors 21,542.6 21,866.6
10 Monetary authority 523.9 535.1
11 Commercial banking 5,015.7 5,050.6
12 U.S.-chartered
banks 4,424.4 4,463.2
13 Foreign banking
offices in
United States 515.0 510.7
14 Bank holding
companies 22.3 21.6
15 Banks in U.S.-
affiliated
areas 54.1 55.1
16 Savings
institutions 1,101.6 1,116.1
17 Credit unions 381.7 391.2
18 Bank personal
trusts and
estates 241.8 245.1
19 Life insurance
companies 1,967.2 1,991.0
20 Other insurance
companies 510.0 510.7
21 Private pension
funds 823.7 828.8
22 State and local
government
retirement
funds 804.3 808.8
23 Money market mutual
funds 1,403.8 1,414.6
24 Mutual funds 1,113.8 1,151.5
25 Closed-end funds 100.6 98.5
26 Government-
sponsored
enterprises 1,866.5 1,944.5
27 Federally related
mortgage pools 2,534.2 2,635.8
28 Asset-backed
securities
issuers (ABSs) 1,660.5 1,706.0
29 Finance companies 809.4 829.6
30 Mortgage companies 36.2 36.5
31 Real estate
investment
trusts (REITs) 37.6 37.9
32 Brokers and dealers 317.7 288.4
33 Funding
corporations 292.3 246.0
RELATION OF
LIABILITIES TO
FINANCIAL ASSETS
34 Total credit market
debt 27,931.7 28,309.5
Other liabilities
35 Official foreign
exchange 43.3 41.7
36 Special drawing
rights
certificates 2.2 2.2
37 Treasury currency 22.9 23.2
38 Foreign deposits 883.4 846.8
39 Net interbank
liabilities 116.0 163.4
40 Checkable deposits
and currency 1,385.2 1,416.8
41 Small time and
savings
deposits 2,965.3 2,992.0
42 Large time deposits 1,078.0 1,090.6
43 Money market fund
shares 1,994.7 2,014.8
44 Security repurchase
agreements 1,206.0 1,241.1
45 Mutual fund shares 3,999.8 4,269.9
46 Security credit 799.4 781.8
47 Life insurance
reserves 823.0 844.6
48 Pension fund reserves 8,603.5 8,885.5
49 Trade payables 2,425.2 2,418.3
50 Taxes payable 224.2 219.8
51 Investment in bank
personal trusts 929.1 964.4
52 Miscellaneous 9,253.4 9,506.9
53 Total liabilities 64,686.3 66,033.3
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.5 21.6
55 Corporate equities 14,920.9 15,863.6
56 Household equity in
noncorporate
business 4,929.1 4,941.8
Liabilities not
identified as
assets (-)
57 Treasury currency -9.4 -9.4
58 Foreign deposits 704.4 677.4
59 Net interbank
transactions 1.7 5.3
60 Security repurchase
agreements 357.6 387.5
61 Taxes payable 112.7 129.0
62 Miscellaneous -3,314.7 -3,222.6
Floats not included
in assets (-)
63 Federal government
checkable
deposits -21.9 -40.6
64 Other checkable
deposits 21.1 25.5
65 Trade credit 42.1 16.0
66 Total identified to
sectors as
assets 86,664.0 88,892.3
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables L.1 and L.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
2.10 NONFINANCIAL BUSINESS ACTIVITY Selected Measures
Monthly data seasonally adjusted, and indexes 1992=100,
except as noted
Measure 1998 1999 2000
1 Industrial production (1) 134.0 139.6 147.5
Market groups
2 Products, total 127.2 131.2 136.2
3 Final, total 129.3 133.3 138.8
4 Consumer goods 118.4 120.8 123.0
5 Equipment 147.1 153.8 166.1
6 Intermediate 121.0 125.1 128.7
7 Materials 145.7 154.5 167.8
Industry groups
8 Manufacturing 138.2 144.8 153.6
9 Capacity utilization, manu-
facturing (percent) (2) 81.3 80.5 81.3
10 Construction contracts (3) 122.7 135.3 (r) 142.0 (r)
11 Nonagricultural employment,
total (4) 115.9 118.6 121.0
12 Goods-producing, total 109.4 109.7 110.5
13 Manufacturing, total 103.9 102.4 101.8
14 Manufacturing, production
workers 105.4 103.7 102.9
15 Service-producing 117.7 121.0 123.9
16 Personal income, total 137.8 144.3 154.3
17 Wages and salary
disbursements 140.6 149.9 162.2
18 Manufacturing 129.7 134.0 142.3
19 Disposable personal
income (5) 133.7 139.2 147.9
20 Retail sales (5) 142.8 155.1 167.0
Prices (6)
21 Consumer (1982-84=100) 163.0 166.6 172.2
22 Producer finished goods
(1982=100) 130.7 133.0 138.0
2000 2001
Measure Nov. Dec. Jan.
1 Industrial production (1) 148.2 147.3 146.0
Market groups
2 Products, total 136.3 136.0 135.0
3 Final, total 138.8 139.0 137.8
4 Consumer goods 122.4 123.1 121.8
5 Equipment 169.9 168.9 168.0
6 Intermediate 128.5 126.8 126.7
7 Materials 169.9 167.8 165.9
Industry groups
8 Manufacturing 154.1 152.6 151.3
9 Capacity utilization, manu-
facturing (percent) (2) 80.5 79.3 78.4
10 Construction contracts (3) 144.0 140.0 151.0 (r)
11 Nonagricultural employment,
total (4) 121.8 121.9 122.0
12 Goods-producing, total 110.7 110.6 110.3
13 Manufacturing, total 101.5 101.3 100.8
14 Manufacturing, production
workers 101.8 101.4 100.9
15 Service-producing 124.8 125.0 125.1
16 Personal income, total 157.9 158.9 159.6
17 Wages and salary
disbursements 166.8 167.6 168.4
18 Manufacturing 146.3 146.2 146.1
19 Disposable personal
income (5) 151.1 152.0 152.8
20 Retail sales (5) 167.8 167.4 169.6
Prices (6)
21 Consumer (1982-84=100) 174.1 174.0 175.1
22 Producer finished goods
(1982=100) 140.0 139.7 141.2
2001
Measure Feb. Mar. Apr.
1 Industrial production (1) 145.4 145.0 144.6 (r)
Market groups
2 Products, total 134.6 134.5 133.8 (r)
3 Final, total 137.7 137.9 137.2 (r)
4 Consumer goods 122.3 122.4 122.1 (r)
5 Equipment 166.2 166.8 165.3 (r)
6 Intermediate 125.5 124.4 123.7 (r)
7 Materials 165.0 163.9 164.1 (r)
Industry groups
8 Manufacturing 150.7 150.0 149.6 (r)
9 Capacity utilization, manu-
facturing (percent) (2) 77.9 77.3 76.9 (r)
10 Construction contracts (3) 152.0 (r) 141.0 (r) 142.0 (r)
11 Nonagricultural employment,
total (4) 122.1 122.2 122.0
12 Goods-producing, total 110.3 110.2 109.4
13 Manufacturing, total 100.5 100.1 99.5
14 Manufacturing, production
workers 100.3 99.7 99.0
15 Service-producing 125.3 125.4 125.4
16 Personal income, total 160.3 161.0 161.4
17 Wages and salary
disbursements 169.4 170.1 170.7
18 Manufacturing 146.3 146.3 146.8
19 Disposable personal
income (5) 153.4 154.1 154.6
20 Retail sales (5) 169.2 168.6 170.0
Prices (6)
21 Consumer (1982-84=100) 175.8 176.2 176.9
22 Producer finished goods
(1982=100) 141.4 140.9 141.7
2001
July
Measure May June (p)
1 Industrial production (1) 144.2 (r) 143.0 142.8
Market groups
2 Products, total 133.6 (r) 132.7 132.8
3 Final, total 137.1 (r) 136.1 136.3
4 Consumer goods 122.6 (r) 122.2 122.8
5 Equipment 163.7 (r) 161.2 160.8
6 Intermediate 123.1 (r) 122.7 122.3
7 Materials 163.4 (r) 161.5 160.9
Industry groups
8 Manufacturing 149.2 (r) 147.7 147.7
9 Capacity utilization, manu-
facturing (percent) (2) 76.6 (r) 75.7 75.6
10 Construction contracts (3) 141.0 149.0 142.0
11 Nonagricultural employment,
total (4) 122.0 122.0 122.0
12 Goods-producing, total 109.0 108.4 108.1
13 Manufacturing, total 98.7 98.1 97.7
14 Manufacturing, production
workers 98.2 97.3 96.8
15 Service-producing 125.6 125.6 125.7
16 Personal income, total 161.7 162.2 163.0
17 Wages and salary
disbursements 170.7 171.5 172.2
18 Manufacturing 145.4 144.9 145.6
19 Disposable personal
income (5) 154.9 155.4 158.0
20 Retail sales (5) n.a. n.a. n.a.
Prices (6)
21 Consumer (1982-84=100) 177.7 178.0 177.5
22 Producer finished goods
(1982=100) 142.5 142.1 140.7
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in December 2000. The recent annual
revision is described in an article in the March 2001 issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Ratio of index of production to index of capacity. Based on data
from the Federal Reserve, U.S. Department of Commerce, and other
sources.
(3.) Index of dollar value of total construction contracts, including
residential, nonresidential, and heavy engineering, from McGraw-Hill
Information Systems Company, F.W. Dodge Division.
(4.) Based on data from the U.S. Department of Labor, Employment and
Earnings. Series covers employees only, excluding personnel in the
armed forces.
(5.) Based on data from U.S. Department of Commerce, Survey of Current
Business.
(6.) Based on data not seasonally adjusted. Seasonally adjusted data
for changes in the price indexes can be obtained from the U.S.
Department of Labor, Bureau of Labor Statistics, Monthly Labor Review.
NOTE. Basic data (not indexes) for series mentioned in notes 4 and 5,
and indexes for series mentioned in notes 3 and 6, can also be found in
the Survey of Current Business.
2.11 LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Thousands of persons; monthly data seasonally adjusted
2000
Category 1998 1999 2000 Dec.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 137,673 139,368 140,863 141,489
Employment
2 Nonagricultural industries
(3) 128,085 130,207 131,903 132,562
3 Agriculture 3,378 3,281 3,305 3,274
Unemployment
4 Number 6,210 5,880 5,655 5,653
5 Rate (percent of civilian
labor force) 4.5 4.2 4.0 4.0
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 125,865 128,786 131,417 132,367
7 Manufacturing 18,805 18,543 18,437 18,349
8 Mining 590 535 538 548
9 Contract construction 6,020 6,404 6,687 6,791
10 Transportation and public
utilities 6,611 6,826 6,993 7,108
11 Trade 29,095 29,712 30,191 30,474
12 Finance 7,389 7,569 7,618 7,582
13 Service 37,533 39,027 40,384 40,901
14 Government 19,823 20,170 20,570 20,614
2001
Category Jan. Feb. Mar. Apr.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,955 141,751 141,868 141,757
Employment
2 Nonagricultural industries
(3) 132,819 132,680 132,618 132,162
3 Agriculture 3,179 3,135 3,161 3,192
Unemployment
4 Number 5,956 5,936 6,088 6,402
5 Rate (percent of civilian
labor force) 4.2 4.2 4.3 4.5
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,428 132,595 132,654 132,489
7 Manufacturing 18,257 18,192 18,116 18,009
8 Mining 550 555 557 560
9 Contract construction 6,826 6,880 6,929 6,852
10 Transportation and public
utilities 7,106 7,123 7,127 7,119
11 Trade 30,482 30,536 30,523 30,583
12 Finance 7,594 7,609 7,618 7,626
13 Service 40,984 41,020 41,073 40,993
14 Government 20,629 20,680 20,711 20,747
2001
Category May (r) June July
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,272 141,354 141,774
Employment
2 Nonagricultural industries
(3) 131,910 131,937 132,334
3 Agriculture 3,193 2,995 3,045
Unemployment
4 Number 6,169 6,422 6,395
5 Rate (percent of civilian
labor force) 4.4 4.5 4.5
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,530 132,437 132,395
7 Manufacturing 17,879 17,766 17,717
8 Mining 564 565 566
9 Contract construction 6,881 6,867 6,868
10 Transportation and public
utilities 7,130 7,114 7,110
11 Trade 30,584 30,592 30,598
12 Finance 7,644 7,631 7,626
13 Service 41,078 41,087 41,064
14 Government 20,770 20,815 20,846
(1.) Beginning January 1994, reflects redesign of current population
survey and population controls from the 1990 census.
(2.) Persons sixteen years of age and older, including Resident Armed
Forces. Monthly figures are based on sample data collected during the
calendar week that contains the twelfth day; annual data are averages
of monthly figures. By definition, seasonality does not exist in
population figures.
(3.) Includes self-employed, unpaid family, and domestic service
workers.
(4.) Includes all full- and part-time employees who worked during, or
received pay for, the pay period that includes the twelfth day of the
month; excludes proprietors, self-employed persons, household and
unpaid family workers, and members of the armed forces. Data are
adjusted to the March 1992 benchmark, and only seasonally adjusted data
are available at this time.
SOURCE. Based on data from U.S. Department of Labor, Employment and
Earnings.
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION
Seasonally adjusted
2000 2001
Series
Q3 Q4 Q1 Q2 (r)
Output (1992 = 100)
1 Total industry 148.4 148.1 145.5 143.9
2 Manufacturing 154.4 153.8 150.7 148.8
3 Primary processing (3) 180.3 178.7 172.6 170.2
4 Advanced processing (4) 140.3 140.2 138.5 137.0
5 Durable goods 196.7 196.5 191.6 189.1
6 Lumber and products 117.0 113.2 109.6 112.4
7 Primary metals 133.4 127.5 121.1 121.8
8 Iron and steel 130.5 121.5 114.9 120.8
9 Nonferrous 137.0 134.7 128.3 123.3
10 Industrial machinery
and equipment 257.3 261.9 256.3 246.7
11 Electrical machinery 581.1 604.0 593.0 562.6
12 Motor vehicles and
parts 170.8 159.7 147.5 159.5
13 Aerospace and
miscellaneous
transportation
equipment 93.5 94.8 94.1 93.3
14 Nondurable goods 116.2 115.3 113.6 112.3
15 Textile mill products 99.8 94.7 92.7 88.4
16 Paper and products 114.0 114.9 110.8 111.1
17 Chemicals and
18 products 125.4 124.5 121.9 120.3
19 Plastics materials 137.6 131.0 130.9 128.0
Petroleum products 117.3 116.0 115.5 116.7
20
21 Mining 100.6 100.3 101.7 103.5
22 Utilities 121.0 123.7 122.6 120.0
Electric 123.9 127.5 125.4 125.0
2000 2001
Series
Q3 Q4 Q1 Q2
Capacity (percent of 1992 output)
1 Total industry 180.1 182.1 183.7 184.9
2 Manufacturing 189.2 191.5 193.5 194.8
3 Primary processing (3) 211.2 216.0 220.0 222.4
4 Advanced processing (4) 175.2 176.2 177.2 178.0
5 Durable goods 238.3 243.6 248.1 251.2
6 Lumber and products 147.9 148.4 148.7 149.0
7 Primary metals 153.4 153.5 153.5 153.5
8 Iron and steel 153.4 153.6 153.6 153.2
9 Nonferrous 153.4 153.4 153.5 153.8
10 Industrial machinery
and equipment 311.1 317.3 322.5 326.5
11 Electrical machinery 639.1 694.1 741.7 773.0
12 Motor vehicles and
parts 209.2 210.1 210.9 211.7
13 Aerospace and
miscellaneous
transportation
equipment 130.4 130.2 130.0 130.1
14 Nondurable goods 144.4 144.6 144.7 144.6
15 Textile mill products 123.3 122.8 122.0 120.9
16 Paper and products 137.5 137.9 138.3 138.6
17 Chemicals and
products 164.1 164.8 165.0 165.0
18 Plastics materials 151.9 152.3 152.7 153.2
19 Petroleum products 123.2 123.1 123.1 123.3
20 Mining 116.3 115.8 115.3 114.9
21 Utilities 133.4 134.5 135.7 137.0
22 Electric 132.3 133.8 135.3 136.8
2000 2001 1973
Series
Q3 Q4 Q1 Q2 (r) High
Capacity utilization rate (percent) (2)
1 Total industry 82.4 81.3 79.2 77.9 89.2
2 Manufacturing 81.7 80.3 77.9 76.4 88.5
3 Primary processing (3) 85.4 82.7 78.4 76.5 91.2
4 Advanced processing (4) 80.1 79.5 78.2 77.0 87.2
5 Durable goods 82.5 80.7 77.2 75.3 89.2
6 Lumber and products 79.1 76.3 73.7 75.5 88.7
7 Primary metals 87.0 83.1 78.8 79.4 100.2
8 Iron and steel 85.1 79.1 74.8 78.9 105.8
9 Nonferrous 89.3 87.8 83.6 80.2 90.8
10 Industrial machinery
and equipment 82.7 82.5 79.5 75.5 96.0
11 Electrical machinery 90.9 87.1 80.0 72.8 89.2
12 Motor vehicles and
parts 81.7 76.0 69.9 75.3 93.4
13 Aerospace and
miscellaneous
transportation
equipment 71.7 72.8 72.3 71.7 78.4
14 Nondurable goods 80.5 79.7 78.5 77.7 87.8
15 Textile mill products 80.9 77.1 76.0 73.1 91.4
16 Paper and products 82.9 83.3 80.1 80.2 97.1
17 Chemicals and
products 76.4 75.5 73.8 72.9 87.6
18 Plastics materials 90.5 86.0 85.7 83.5 102.0
19 Petroleum products 95.3 94.3 93.8 94.7 96.7
20 Mining 86.6 86.6 88.2 90.0 94.3
21 Utilities 90.7 92.0 90.4 87.6 96.2
22 Electric 93.7 95.3 92.7 91.4 99.0
Previous Latest
1975 cycle (5) cycle (6) 2000
Series
Low High Low High Low July
Capacity utilization rate (percent) (2)
1 Total industry 72.6 87.3 71.1 85.4 78.1 82.3
2 Manufacturing 70.5 86.9 69.0 85.7 76.6 81.6
3 Primary processing (3) 68.2 88.1 66.2 88.9 77.7 85.6
4 Advanced processing (4) 71.8 86.7 70.4 84.2 76.1 79.8
5 Durable goods 68.9 87.7 63.9 84.6 73.1 82.3
6 Lumber and products 61.2 87.9 60.8 93.6 75.5 80.3
7 Primary metals 65.9 94.2 45.1 92.7 73.7 87.3
8 Iron and steel 66.6 95.8 37.0 95.2 71.8 84.8
9 Nonferrous 59.8 91.1 60.1 89.3 74.2 90.5
10 Industrial machinery
and equipment 74.3 93.2 64.0 85.4 72.3 82.1
11 Electrical machinery 64.7 89.4 71.6 84.0 75.0 91.8
12 Motor vehicles and
parts 51.3 95.0 45.5 89.1 55.9 78.1
13 Aerospace and
miscellaneous
transportation
equipment 67.6 81.9 66.6 87.3 79.2 72.7
14 Nondurable goods 71.7 87.5 76.4 87.3 80.7 80.6
15 Textile mill products 60.0 91.2 72.3 90.4 77.7 82.1
16 Paper and products 69.2 96.1 80.6 93.5 85.0 83.6
17 Chemicals and
products 69.7 84.6 69.9 86.2 79.3 76.2
18 Plastics materials 50.6 90.9 63.4 97.0 74.8 92.8
19 Petroleum products 81.1 90.0 66.8 88.5 85.1 95.0
20 Mining 88.2 96.0 80.3 88.0 87.0 86.3
21 Utilities 82.9 89.1 75.9 92.6 83.4 89.5
22 Electric 82.7 88.2 78.9 95.0 87.1 91.8
2001
Apr. May July
Series
Feb. Mar. (r) (r) June (p)
Capacity utilization rate (percent) (2)
1 Total industry 79.2 78.7 78.4 78.0 77.2 77.0
2 Manufacturing 77.9 77.3 76.9 76.6 75.7 75.6
3 Primary processing (3) 78.6 77.4 77.2 76.7 75.6 75.3
4 Advanced processing (4) 78.1 77.9 77.4 77.1 76.4 76.4
5 Durable goods 77.0 76.8 76.0 75.6 74.3 74.2
6 Lumber and products 73.3 74.8 74.5 76.5 75.5 75.3
7 Primary metals 79.0 76.8 79.7 80.0 78.4 78.4
8 Iron and steel 75.2 73.8 77.2 79.6 79.8 79.8
9 Nonferrous 83.6 80.3 82.8 80.6 77.1 77.1
10 Industrial machinery
and equipment 79.1 78.9 77.2 75.6 73.9 73.5
11 Electrical machinery 80.0 77.0 74.5 72.8 71.0 68.6
12 Motor vehicles and
parts 69.9 74.1 73.5 76.8 75.7 79.2
13 Aerospace and
miscellaneous
transportation
equipment 71.9 72.5 72.3 71.6 71.1 70.6
14 Nondurable goods 78.8 77.9 78.0 77.7 77.3 77.2
15 Textile mill products 76.0 76.0 74.8 72.3 72.3 72.4
16 Paper and products 81.6 77.8 82.1 80.0 78.4 78.1
17 Chemicals and
products 74.3 73.4 72.8 73.3 72.6 72.7
18 Plastics materials 88.2 85.0 82.7 84.2 83.8 83.9
19 Petroleum products 94.6 93.4 94.7 94.3 95.0 93.6
20 Mining 87.9 89.2 90.0 90.3 89.8 89.3
21 Utilities 89.8 89.6 88.5 86.8 87.4 86.6
22 Electric 91.6 92.4 93.4 90.3 90.6 89.5
(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
ulitization rates was released in December 2000. The recent annual
revision is described in an article in the March 2001 issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and
the references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Capacity utilization is calculated as the ratio of the Federal
Reserve's seasonally adjusted index of industrial production to the
corresponding index of capacity.
(3.) Primary processing includes textiles; lumber; paper; industrial
chemicals; synthetic materials; fertilizer materials; petroleum
products; rubber and plastics; stone, clay, and glass; primary metals;
and fabricated metals.
(4.) Advanced processing includes foods, tobacco, apparel, furniture
and fixtures, printing and publishing, chemical products such as drugs
and toiletries, agricultural chemicals, leather and products,
machinery, transportation equipment, instruments, and miscellaneous
manufactures.
(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
Group SIC (2) pro- 2000
code por- avg.
tion
MAJOR MARKETS
1 Total index 100.0 147.5
2 Products 60.5 136.2
3 Final products 46.3 138.8
4 Consumer goods, total 29.1 123.0
5 Durable consumer
goods 6.1 166.1
6 Automotive
products 2.6 128.7
7 Autos and
trucks 1.7 167.8
8 Autos,
consumer .9 153.6
9 Trucks,
consumer .7 81.3
10 Auto parts and
allied
goods .9 142.0
11 Other 3.5 121.0
12 Appliances,
televi-
sions,
and air
conditio-
ners 1.0 110.5
13 Carpeting and
furniture .8 101.8
14 Miscellaneous
home goods 1.6 102.9
15 Nondurable consumer
goods 23.0 123.9
16 Foods and tobacco 10.3 154.3
17 Clothing 2.4 162.2
18 Chemical products 4.5 142.3
19 Paper products 2.9 147.9
20 Energy 2.9 167.0
21 Fuels .8 172.2
22 Residential
utilities 2.1 138.0
23 Equipment 17.2 166.1
24 Business equipment 13.2 194.2
25 Information
processing
and related 5.4 312.2
26 Computer and
office
equipment 1.1 1,157.6
27 Industrial 4.0 144.6
28 Transit 2.5 127.7
29 Autos and trucks 1.2 145.6
30 Other 1.3 145.7
31 Defense and space
equipment 3.3 76.2
32 Oil and gas well
drilling .6 131.8
33 Manufactured homes .2 116.2
34 Intermediate products,
total 14.2 128.7
35 Construction supplies 5.3 143.2
36 Business supplies 8.9 120.1
37 Materials 39.5 167.8
38 Durable goods materials 20.8 227.6
39 Durable consumer
parts 4.0 165.3
40 Equipment parts 7.6 478.3
41 Other 9.2 134.6
42 Basic metal
materials 3.1 128.7
43 Nondurable goods
materials 8.9 113.8
44 Textile materials 1.1 97.9
45 Paper materials 1.8 115.8
46 Chemical materials 3.9 117.0
47 Other 2.1 113.0
48 Energy materials 9.7 103.4
49 Primary energy 6.3 98.1
50 Converted fuel
materials 3.3 114.3
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 97.1 147.2
52 Total excluding motor
vehicles
and parts 95.1 146.3
53 Total excluding computer
and office
equipment 98.2 140.4
54 Consumer goods excluding
autos and
trucks 27.4 120.6
55 Consumer goods excluding
energy 26.2 123.9
56 Business equipment
excluding
autos and
trucks 12.0 200.1
57 Business equipment
excluding
computer
and office
equipment 12.1 158.4
58 Materials excluding
energy 29.8 188.5
MAJOR INDUSTRIES
59 Total index ... 100.0 147.5
60 Manufacturing ... 85.4 153.6
61 Primary processing ... 26.5 178.0
62 Advanced processing ... 58.9 139.3
63 Durable goods ... 45.0 193.4
64 Lumber and products 24 2.0 118.3
65 Furniture and
fixtures 25 1.4 142.9
66 Stone, clay, and
glass
products 32 2.1 134.7
67 Primary metals 33 3.1 133.7
68 Iron and steel 331,2 1.7 131.1
69 Raw steel 331PT .1 120.9
70 Nonferrous 333-6,9 1.4 136.8
71 Fabricated metal
products 34 5.0 135.6
72 Industrial machinery
and
equipment 35 8.0 252.8
73 Computer and office
equipment 357 1.8 1,343.6
74 Electrical machinery 36 7.3 549.7
75 Transportation
equipment 37 9.5 131.0
76 Motor vehicles and
parts 371 4.9 170.5
77 Autos and light
trucks 371PT 2.6 153.0
78 Aerospace and
miscella-
neous tran-
sportation
equipment 372-6,9 4.6 93.8
79 Instruments 38 5.4 122.2
80 Miscellaneous 39 1.3 130.8
81 Nondurable goods ... 40.4 116.9
82 Foods 20 9.4 114.7
83 Tobacco products 21 1.6 95.3
84 Textile mill products 22 1.8 100.1
85 Apparel products 23 2.2 91.7
86 Paper and products 26 3.6 116.1
87 Printing and
publishing 27 6.7 109.9
88 Chemicals and
products 28 9.9 128.3
89 Petroleum products 29 1.4 117.1
90 Rubber and plastic
products 30 3.5 142.3
91 Leather and products 31 .3 69.8
92 Mining ... 6.9 100.0
93 Metal 10 .5 97.4
94 Coal 12 1.0 108.9
95 Oil and gas extraction 13 4.8 95.0
96 Stone and earth
minerals 14 .6 126.4
97 Utilities ... 7.7 120.4
98 Electric 491,3PT 6.2 123.9
99 Gas 491,2PT 1.6 109.3
SPECIAL AGGREGATES
100 Manufacturing excluding
motor
vehicles
and parts ... 80.5 152.6
101 Manufacturing excluding
computer
and office
equipment ... 83.6 145.4
102 Computers, communications
equipment,
and semi-
conductors ... 5.9 1,195.2
103 Manufacturing excluding
computers
and semi-
conductors ... 81.1 128.3
104 Manufacturing excluding
computers,
communica-
tions equi-
pment, and
semiconduc-
tors ... 79.5 125.1
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total ... 2,001.9 2,860.5
106 Final ... 1,552.1 2,203.4
107 Consumer goods ... 1,049.6 1,340.0
108 Equipment ... 502.5 865.7
109 Intermediate ... 449.9 656.7
2000
Group July Aug. Sept.
Index (1992 = 100)
MAJOR MARKETS
1 Total index 147.6 148.6 149.0
2 Products 135.8 136.6 136.7
3 Final products 138.1 139.2 139.3
4 Consumer goods, total 122.9 123.8 123.8
5 Durable consumer
goods 166.3 (r) 167.9 (r) 168.3 (r)
6 Automotive
products 128.7 (r) 128.8 (r) 128.6 (r)
7 Autos and
trucks 169.0 (r) 170.5 (r) 171.3 (r)
8 Autos,
consumer 153.7 (r) 154.6 (r) 155.1 (r)
9 Trucks,
consumer 81.6 (r) 81.7 (r) 81.7 (r)
10 Auto parts and
allied
goods 141.0 (r) 139.0 (r) 143.0 (r)
11 Other 121.5 (r) 121.4 (r) 121.6 (r)
12 Appliances,
televi-
sions,
and air
conditio-
ners 110.9 (r) 110.7 (r) 110.6 (r)
13 Carpeting and
furniture 102.5 (r) 102.1 (r) 101.7 (r)
14 Miscellaneous
home goods 103.3 (r) 102.8 (r) 102.2 (r)
15 Nondurable consumer
goods 124.3 (r) 124.3 (r) 124.6 (r)
16 Foods and tobacco 154.8 (r) 155.4 (r) 156.3 (r)
17 Clothing 162.9 (r) 163.2 (r) 164.4 (r)
18 Chemical products 143.5 (r) 143.4 (r) 144.0 (r)
19 Paper products 148.4 (r) 148.8 (r) 149.6 (r)
20 Energy 167.7 (r) 167.4 (r) 169.0 (r)
21 Fuels 172.8 (r) 172.8 (r) 173.7 (r)
22 Residential
utilities 138.6 (r) 138.2 (r) 139.4 (r)
23 Equipment 166.3 167.9 168.3
24 Business equipment 195.0 197.8 199.5
25 Information
processing
and related 313.9 322.1 327.2
26 Computer and
office
equipment 1,182.8 1,229.0 1,264.1
27 Industrial 144.4 147.7 146.5
28 Transit 127.6 126.8 127.7
29 Autos and trucks 141.5 142.8 144.2
30 Other 148.1 144.8 149.3
31 Defense and space
equipment 77.9 76.1 73.7
32 Oil and gas well
drilling 136.2 137.1 132.8
33 Manufactured homes 116.8 115.5 109.3
34 Intermediate products,
total 128.7 128.8 128.6
35 Construction supplies 143.8 142.7 143.1
36 Business supplies 119.8 120.6 120.0
37 Materials 169.0 170.5 171.3
38 Durable goods materials 230.5 233.8 235.7
39 Durable consumer
parts 158.3 168.3 169.0
40 Equipment parts 499.9 505.7 512.1
41 Other 135.3 134.7 135.5
42 Basic metal
materials 128.5 127.5 129.2
43 Nondurable goods
materials 113.9 112.8 112.7
44 Textile materials 97.9 99.3 95.9
45 Paper materials 114.9 112.8 113.8
46 Chemical materials 117.0 116.8 116.3
47 Other 113.7 110.2 112.0
48 Energy materials 102.9 104.2 104.3
49 Primary energy 98.7 98.9 98.5
50 Converted fuel
materials 110.8 115.1 116.6
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 147.5 148.4 148.7
52 Total excluding motor
vehicles
and parts 146.9 147.4 147.7
53 Total excluding computer
and office
equipment 140.5 141.4 141.6
54 Consumer goods excluding
autos and
trucks 120.9 121.3 121.2
55 Consumer goods excluding
energy 123.9 124.5 124.4
56 Business equipment
excluding
autos and
trucks 201.5 204.5 206.3
57 Business equipment
excluding
computer
and office
equipment 158.6 160.3 161.2
58 Materials excluding
energy 190.3 191.8 193.0
MAJOR INDUSTRIES
59 Total index 147.6 148.6 149.0
60 Manufacturing 153.7 154.6 155.1
61 Primary processing 179.4 180.3 181.2
62 Advanced processing 139.5 140.5 140.8
63 Durable goods 194.7 196.9 198.4
64 Lumber and products 118.6 115.5 116.8
65 Furniture and
fixtures 142.6 143.8 146.6
66 Stone, clay, and
glass
products 136.3 136.1 136.5
67 Primary metals 133.9 132.4 133.9
68 Iron and steel 129.9 129.7 131.9
69 Raw steel 126.4 123.9 117.7
70 Nonferrous 138.8 135.7 136.5
71 Fabricated metal
products 136.1 136.3 136.0
72 Industrial machinery
and
equipment 253.9 257.9 260.0
73 Computer and office
equipment 1,370.4 1,421.6 1,464.2
74 Electrical machinery 571.2 580.0 592.2
75 Transportation
equipment 128.0 132.4 132.4
76 Motor vehicles and
parts 163.1 173.9 175.5
77 Autos and light
trucks 147.8 156.4 158.8
78 Aerospace and
miscella-
neous tran-
sportation
equipment 94.9 93.5 92.1
79 Instruments 122.6 123.3 123.7
80 Miscellaneous 132.1 130.8 130.9
81 Nondurable goods 116.3 116.3 116.0
82 Foods 115.0 115.1 114.6
83 Tobacco products 95.8 96.6 94.5
84 Textile mill products 101.4 99.4 98.4
85 Apparel products 92.0 90.7 89.5
86 Paper and products 114.9 113.3 113.7
87 Printing and
publishing 110.0 110.4 110.9
88 Chemicals and
products 124.8 125.9 125.4
89 Petroleum products 117.0 117.6 117.4
90 Rubber and plastic
products 144.4 142.1 141.9
91 Leather and products 70.0 68.8 69.8
92 Mining 100.5 101.0 100.4
93 Metal 92.9 95.8 99.3
94 Coal 110.3 109.3 107.0
95 Oil and gas extraction 95.7 96.3 95.7
96 Stone and earth
minerals 124.4 125.0 123.7
97 Utilities 119.1 122.1 121.7
98 Electric 121.1 126.1 124.7
99 Gas 111.0 108.4 110.5
SPECIAL AGGREGATES
100 Manufacturing excluding
motor
vehicles
and parts 153.2 153.5 153.9
101 Manufacturing excluding
computer
and office
equipment 145.4 146.2 146.5
102 Computers, communications
equipment,
and semi-
conductors 1,248.0 1,281.6 1,310.3
103 Manufacturing excluding
computers
and semi-
conductors 127.7 128.2 128.4
104 Manufacturing excluding
computers,
communica-
tions equi-
pment, and
semiconduc-
tors 124.5 124.9 125.0
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,865.7 2,882.9 2,889.1
106 Final 2,202.8 2,220.5 2,228.1
107 Consumer goods 1,338.7 1,348.7 1,353.7
108 Equipment 872.8 880.8 883.3
109 Intermediate 661.8 661.5 660.2
2000
Group Oct. Nov. Dec.
Index (1992 = 100)
MAJOR MARKETS
1 Total index 148.7 148.2 147.3
2 Products 136.3 136.3 136.0
3 Final products 138.8 138.8 139.0
4 Consumer goods, total 122.7 122.4 123.1
5 Durable consumer
goods 169.1 (r) 169.9 (r) 168.9 (r)
6 Automotive
products 128.7 (r) 128.5 (r) 126.8 (r)
7 Autos and
trucks 171.1 (r) 169.9 (r) 167.8 (r)
8 Autos,
consumer 154.9 (r) 154.1 (r) 152.6 (r)
9 Trucks,
consumer 81.2 (r) 80.5 (r) 79.3 (r)
10 Auto parts and
allied
goods 151.0 (r) 144.0 (r) 140.0 (r)
11 Other 121.7 (r) 121.8 (r) 121.9 (r)
12 Appliances,
televi-
sions,
and air
conditio-
ners 110.7 (r) 110.7 (r) 110.6 (r)
13 Carpeting and
furniture 101.6 (r) 101.5 (r) 101.3 (r)
14 Miscellaneous
home goods 102.1 (r) 101.8 (r) 101.4 (r)
15 Nondurable consumer
goods 124.7 (r) 124.8 (r) 125.0 (r)
16 Foods and tobacco 157.3 (r) 157.9 (r) 158.9 (r)
17 Clothing 165.8 (r) 166.8 (r) 167.6 (r)
18 Chemical products 145.6 (r) 146.3 (r) 146.2 (r)
19 Paper products 150.5 (r) 151.1 (r) 152.0 (r)
20 Energy 168.7 (r) 167.8 (r) 167.8 (r)
21 Fuels 174.0 (r) 174.1 (r) 174.0 (r)
22 Residential
utilities 140.1 (r) 140.0 (r) 139.7 (r)
23 Equipment 169.1 169.9 168.9
24 Business equipment 200.0 200.6 199.2
25 Information
processing
and related 332.3 336.7 335.9
26 Computer and
office
equipment 1,286.4 1,305.0 1,318.3
27 Industrial 146.9 147.4 145.8
28 Transit 121.6 121.8 117.4
29 Autos and trucks 131.4 130.4 122.0
30 Other 154.2 148.6 153.5
31 Defense and space
equipment 75.3 77.0 77.5
32 Oil and gas well
drilling 136.5 138.9 139.1
33 Manufactured homes 98.8 90.9 83.5
34 Intermediate products,
total 128.7 128.5 126.8
35 Construction supplies 142.3 141.6 140.6
36 Business supplies 120.7 120.7 118.5
37 Materials 171.1 169.9 167.8
38 Durable goods materials 235.0 232.9 230.3
39 Durable consumer
parts 168.5 161.8 157.6
40 Equipment parts 515.9 521.4 522.3
41 Other 133.7 131.8 129.6
42 Basic metal
materials 125.9 124.4 123.6
43 Nondurable goods
materials 113.4 110.7 108.6
44 Textile materials 94.0 89.5 90.3
45 Paper materials 117.2 113.4 109.4
46 Chemical materials 115.9 113.7 109.8
47 Other 114.0 111.9 113.9
48 Energy materials 103.9 105.4 104.5
49 Primary energy 97.8 99.3 98.6
50 Converted fuel
materials 117.2 118.7 117.3
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 148.8 148.4 147.8
52 Total excluding motor
vehicles
and parts 147.8 147.7 147.2
53 Total excluding computer
and office
equipment 141.2 140.8 139.9
54 Consumer goods excluding
autos and
trucks 120.7 120.6 121.9
55 Consumer goods excluding
energy 123.6 122.9 122.5
56 Business equipment
excluding
autos and
trucks 208.5 209.4 208.9
57 Business equipment
excluding
computer
and office
equipment 161.2 161.5 159.9
58 Materials excluding
energy 192.8 190.4 187.8
MAJOR INDUSTRIES
59 Total index 148.7 148.2 147.3
60 Manufacturing 154.9 154.1 152.6
61 Primary processing 181.1 178.8 176.1
62 Advanced processing 140.5 140.5 139.6
63 Durable goods 197.6 196.7 195.1
64 Lumber and products 114.8 113.2 111.5
65 Furniture and
fixtures 147.2 145.0 145.3
66 Stone, clay, and
glass
products 137.3 134.6 132.4
67 Primary metals 129.0 127.3 126.3
68 Iron and steel 123.7 122.0 118.7
69 Raw steel 115.6 106.3 104.6
70 Nonferrous 135.3 133.6 135.2
71 Fabricated metal
products 136.0 134.7 132.9
72 Industrial machinery
and
equipment 261.5 261.9 262.3
73 Computer and office
equipment 1,487.4 1,502.8 1,508.3
74 Electrical machinery 597.4 604.4 610.2
75 Transportation
equipment 129.2 126.8 122.8
76 Motor vehicles and
parts 167.2 160.1 151.8
77 Autos and light
trucks 145.8 140.1 131.5
78 Aerospace and
miscella-
neous tran-
sportation
equipment 93.6 95.4 95.3
79 Instruments 123.5 124.6 123.1
80 Miscellaneous 131.1 130.2 129.4
81 Nondurable goods 116.3 115.5 114.1
82 Foods 114.8 115.0 114.2
83 Tobacco products 93.7 93.1 94.2
84 Textile mill products 96.7 92.8 94.5
85 Apparel products 89.2 89.2 88.2
86 Paper and products 117.1 114.7 112.7
87 Printing and
publishing 111.6 111.2 109.2
88 Chemicals and
products 125.8 124.8 122.9
89 Petroleum products 116.5 116.9 114.7
90 Rubber and plastic
products 141.3 139.1 137.3
91 Leather and products 68.6 68.9 66.9
92 Mining 100.1 101.1 99.6
93 Metal 96.3 93.7 99.5
94 Coal 110.2 108.6 106.1
95 Oil and gas extraction 95.1 96.6 95.2
96 Stone and earth
minerals 124.6 123.2 119.3
97 Utilities 120.0 121.9 129.1
98 Electric 124.2 127.3 131.2
99 Gas 105.8 104.5 120.2
SPECIAL AGGREGATES
100 Manufacturing excluding
motor
vehicles
and parts 154.3 153.8 152.7
101 Manufacturing excluding
computer
and office
equipment 146.2 145.4 143.9
102 Computers, communications
equipment,
and semi-
conductors 1,334.8 1,358.1 1,368.9
103 Manufacturing excluding
computers
and semi-
conductors 128.0 127.1 125.6
104 Manufacturing excluding
computers,
communica-
tions equi-
pment, and
semiconduc-
tors 124.6 123.6 122.1
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,867.4 2,863.2 2,850.2
106 Final 2,205.4 2,203.7 2,198.2
107 Consumer goods 1,334.7 1,331.2 1,332.8
108 Equipment 880.9 883.3 874.9
109 Intermediate 661.0 658.6 651.2
2001
Group Jan. Feb. Mar.
Index (1992 = 100)
MAJOR MARKETS
1 Total index 146.0 145.4 145.0
2 Products 135.0 134.6 134.5
3 Final products 137.8 137.7 137.9
4 Consumer goods, total 121.8 122.3 122.4
5 Durable consumer
goods 168.0 (r) 166.2 (r) 166.8 (r)
6 Automotive
products 126.7 (r) 125.5 (r) 124.4 (r)
7 Autos and
trucks 165.9 (r) 165.0 (r) 163.9 (r)
8 Autos,
consumer 151.3 (r) 150.7 (r) 150.0 (r)
9 Trucks,
consumer 78.4 (r) 77.9 (r) 77.3 (r)
10 Auto parts and
allied
goods 151.0 (r) 152.0 (r) 141.0 (r)
11 Other 122.0 (r) 122.1 (r) 122.2 (r)
12 Appliances,
televi-
sions,
and air
conditio-
ners 110.3 (r) 110.3 (r) 110.2 (r)
13 Carpeting and
furniture 100.8 (r) 100.5 (r) 100.1 (r)
14 Miscellaneous
home goods 100.9 (r) 100.3 (r) 99.7 (r)
15 Nondurable consumer
goods 125.1 (r) 125.3 (r) 125.4 (r)
16 Foods and tobacco 159.6 (r) 160.3 (r) 161.0 (r)
17 Clothing 168.4 (r) 169.4 (r) 170.1 (r)
18 Chemical products 146.1 (r) 146.3 (r) 146.3 (r)
19 Paper products 152.8 (r) 153.4 (r) 154.1 (r)
20 Energy 170.1 (r) 170.4 (r) 169.6 (r)
21 Fuels 175.1 (r) 175.8 (r) 176.2 (r)
22 Residential
utilities 141.2 (r) 141.4 (r) 140.9 (r)
23 Equipment 168.0 166.2 166.8
24 Business equipment 197.4 195.3 195.6
25 Information
processing
and related 337.4 330.6 327.7
26 Computer and
office
equipment 1,310.6 1,307.0 1,304.4
27 Industrial 145.7 141.4 142.3
28 Transit 111.7 114.4 117.8
29 Autos and trucks 115.6 120.9 129.0
30 Other 149.3 153.9 151.2
31 Defense and space
equipment 78.5 76.7 77.7
32 Oil and gas well
drilling 146.7 147.9 150.7
33 Manufactured homes 73.5 81.9 83.2
34 Intermediate products,
total 126.7 125.5 124.4
35 Construction supplies 140.7 139.9 140.5
36 Business supplies 118.4 117.0 114.9
37 Materials 165.9 165.0 163.9
38 Durable goods materials 226.6 225.2 223.6
39 Durable consumer
parts 146.1 149.9 153.1
40 Equipment parts 517.5 514.9 508.2
41 Other 130.1 127.2 125.5
42 Basic metal
materials 121.2 118.3 114.5
43 Nondurable goods
materials 107.5 107.2 104.6
44 Textile materials 91.0 87.7 87.4
45 Paper materials 110.3 112.4 105.9
46 Chemical materials 108.5 108.2 105.9
47 Other 111.0 110.2 109.1
48 Energy materials 104.4 103.9 104.9
49 Primary energy 100.3 99.3 100.4
50 Converted fuel
materials 111.8 113.1 113.7
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 146.6 145.9 145.1
52 Total excluding motor
vehicles
and parts 146.5 145.4 144.5
53 Total excluding computer
and office
equipment 138.6 138.1 137.7
54 Consumer goods excluding
autos and
trucks 120.8 121.1 120.6
55 Consumer goods excluding
energy 122.0 122.6 122.8
56 Business equipment
excluding
autos and
trucks 207.7 204.6 203.8
57 Business equipment
excluding
computer
and office
equipment 158.4 156.5 156.8
58 Materials excluding
energy 185.1 184.1 182.0
MAJOR INDUSTRIES
59 Total index 146.0 145.4 145.0
60 Manufacturing 151.3 150.7 150.0
61 Primary processing 173.5 173.1 171.1
62 Advanced processing 139.0 138.4 138.3
63 Durable goods 192.3 191.1 191.3
64 Lumber and products 108.3 109.1 111.4
65 Furniture and
fixtures 144.1 143.8 143.2
66 Stone, clay, and
glass
products 135.2 134.3 134.3
67 Primary metals 124.0 121.3 117.8
68 Iron and steel 116.0 115.5 113.3
69 Raw steel 108.3 109.1 109.2
70 Nonferrous 133.4 128.2 123.3
71 Fabricated metal
products 133.5 130.3 129.8
72 Industrial machinery
and
equipment 258.4 255.0 255.7
73 Computer and office
equipment 1,497.4 1,484.2 1,477.5
74 Electrical machinery 604.3 593.7 581.0
75 Transportation
equipment 116.0 119.8 124.5
76 Motor vehicles and
parts 138.6 147.4 156.5
77 Autos and light
trucks 125.9 131.9 141.8
78 Aerospace and
miscella-
neous tran-
sportation
equipment 94.3 93.5 94.3
79 Instruments 125.0 123.3 122.6
80 Miscellaneous 130.4 127.6 127.6
81 Nondurable goods 114.0 114.0 112.7
82 Foods 114.1 115.0 114.6
83 Tobacco products 95.2 93.7 92.2
84 Textile mill products 93.0 92.7 92.4
85 Apparel products 88.9 88.7 88.4
86 Paper and products 111.8 112.8 107.7
87 Printing and
publishing 109.6 107.7 106.2
88 Chemicals and
products 121.8 122.6 121.2
89 Petroleum products 115.1 116.5 115.0
90 Rubber and plastic
products 138.5 137.3 136.5
91 Leather and products 67.1 69.3 67.7
92 Mining 101.0 101.4 102.7
93 Metal 94.6 91.7 
