Financial and business statistics
A3 GUIDE TO TABLES
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
A4 Reserves and money stock measures
A5 Reserves of depository institutions and Reserve Bank
credit
A6 Reserves and borrowings--Depository
institutions
Policy Instruments
A7 Federal Reserve Bank interest rates
A8 Reserve requirements of depository institutions
A9 Federal Reserve open market transactions
Federal Reserve Banks
A10 Condition and Federal Reserve note statements
A11 Maturity distribution of loans and securities
Monetary and Credit Aggregates
A12 Aggregate reserves of depository institutions
and monetary base
A13 Money stock measures
Commercial Banking Institutions--Assets
and Liabilities
A15 All commercial banks in the United States
A16 Domestically chartered commercial banks
A17 Large domestically chartered commercial banks
A19 Small domestically chartered commercial banks
A20 Foreign-related institutions
Financial Markets
A22 Commercial paper outstanding
A22 Prime rate charged by banks on short-term
business loans
A23 Interest rates--Money and capital markets
A24 Stock market--Selected statistics
Federal Finance
A25 Federal debt subject to statutory limitation
A25 Gross public debt of U.S. Treasury--Types
and ownership
A26 U.S. government securities
dealers--Transactions
A27 U.S. government securities dealers--Positions
and financing
A28 Federal and federally sponsored credit
agencies--Debt outstanding
Securities Markets and Corporate Finance
A29 New security issues--Tax-exempt state and local
governments and U.S. corporations
A30 Open-end investment companies--Net sales
and assets
A30 Domestic finance companies--Assets and liabilities
A31 Domestic finance companies--Owned and managed
receivables
Real Estate
A32 Mortgage markets--New homes
A33 Mortgage debt outstanding
Consumer Credit
A34 Total outstanding
A34 Terms
Flow of Funds
A35 Funds raised in U.S. credit markets
A37 Summary of financial transactions
A38 Summary of credit market debt outstanding
A39 Summary of financial assets and liabilities
DOMESTIC NONFINANCIAL STATISTICS
Selected Measures
A40 Output, capacity, and capacity utilization
A42 Industrial production--Indexes and gross value
INTERNATIONAL STATISTICS
Summary Statistics
A44 U.S. international transactions
A44 U.S. reserve assets
A45 Foreign official assets held at Federal Reserve
Banks
A45 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
A45 Liabilities to, and claims on, foreigners
A46 Liabilities to foreigners
A48 Banks' own claims on foreigners
A49 Banks' own and domestic customers' claims on
foreigners
Reported by Nonbanking Business
Enterprises in the United States
A50 Liabilities to unaffiliated foreigners
A52 Claims on unaffiliated foreigners
Securities Holdings and Transactions
A54 Foreign transactions in securities
A55 Marketable U.S. Treasury bonds and
notes--Foreign transactions
Interest and Exchange Rates
A56 Foreign exchange rates
A57 GUIDE TO SPECIAL TABLES AND
STATISTICAL RELEASES
A58 INDEX TO STATISTICAL TABLES
Guide to Tables
SYMBOLS AND ABBREVIATIONS
c Corrected
e Estimated
n.a. Not available
n.e.c. Not elsewhere classified
p Preliminary
r Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
* Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
0 Calculated to be zero
... Cell not applicable
ABS Asset-backed security
ATS Automatic transfer service
BIF Bank insurance fund
CD Certificate of deposit
CMO Collateralized mortgage obligation
CRA Community Reinvestment Act of 1977
FAMC Federal Agricultural 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
lOs Interest only, stripped, mortgage-backed securities
IPCs Individuals, partnerships, and corporations
IRA Individual retirement account
MMDA Money market deposit account
MSA Metropolitan statistical area
NAICS North American Industry Classification System
NOW Negotiable order of withdrawal
OCDs Other checkable deposits
OPEC Organization of Petroleum Exporting Countries
OTS Office of Thrift Supervision
PMI Private mortgage insurance
POs Principal only, stripped, mortgage-backed securities
REIT Real estate investment trust
REMICs Real estate mortgage investment conduits
RHS Rural Housing Service
RP Repurchase agreement
RTC Resolution Trust Corporation
SCO Securitized credit obligation
SDR Special drawing right
SIC Standard Industrial Classification
TIIS Treasury inflation-indexed securities
VA Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations
of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
1.10 RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted (1)
Monetary or credit aggregate 2002
Q3 Q4
Reserves of depository institutions (2)
1 Total -2.2 1.0
2 Required -4.9 -1.4
3 Nonborrowed -3.7 1.9
4 Monetary base (3) 6.9 5.1
Concepts of money (4)
5 M1 3.0 4.9
6 M2 8.8 7.0
7 M3 7.2 (r) 7.8 (r)
Nontransaction components
8 In M2 (5) 10.4 7.6
9 In M3 only (6) 3.6 (r) 9.5 (r)
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 20.1 16.8
11 Small time (7) -4.0 -7.4 (r)
12 Large time (8), (9) .5 -5.6
Thrift institutions
13 Savings, including MMDAs 20.6 (r) 20.0
14 Small time (7) -10.5 -6.0
15 Large time (8) 2.6 11.9
Money market mutual funds
16 Retail .9 -6.3
17 Institution-only -.7 2.1
Repurchase agreements and eurodollars
18 Repurchase agreement (10) 28.7 (r) 47.7 (r)
19 Eurodollars (10) -3.5 28.9
2003
Q1 Q2
Reserves of depository institutions (2)
1 Total 11.3 6.7
2 Required 11.4 8.1
3 Nonborrowed 12.8 6.2
4 Monetary base (3) 7.6 5.9
Concepts of money (3)
5 M1 7.5 9.2
6 M2 6.4 (r) 8.4
7 M3 5.6 6.0
Nontransaction components
8 In M2 (5) 6.0 (r) 8.2
9 In M3 only (6) 3.9 (r) .8
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 13.6 16.5
11 Small time (7) -7.1 (r) -8.6
12 Large time (8), (9) -4.5 2.1
Thrift institutions
13 Savings, including MMDAs 21.9 (r) 24.6
14 Small time (7) -6.6 (r) -9.0
15 Large time (8) 8.9 -2.1
Money market mutual funds
16 Retail -10.0 (r) 8.2
17 Institution-only -4.9 -14.7
Repurchase agreements and eurodollars
18 Repurchase agreement (10) 31.4 (r) 27.8
19 Eurodollars (10) 19.2 (r) 20.9
2003
Mar. Apr. (r)
Reserves of depository institutions (2)
1 Total 4.5 -4.9
2 Required 14.9 -1.9
3 Nonborrowed 4.6 -5.1
4 Monetary base (3) 6.7 5.3
Concepts of money (3)
5 M1 3.5 (r) .4
6 M2 2.5 (r) 4.6
7 M3 3.7 (r) 2.1
Nontransaction components
8 In M2 (5) 2.3 (r) 5.8
9 In M3 only (6) 6.4 (r) -3.5
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 4.3 17.7
11 Small time (7) -6.8 -8.5
12 Large time (8), (9) 9.5 -1.0
Thrift institutions
13 Savings, including MMDAs 19.5 19.1
14 Small time (7) 6.4 (r) -7.3
15 Large time (8) -8.1 2.0
Money market mutual funds
16 Retail -8.1 (r) 20.1
17 Institution-only -13.1 -22.4
Repurchase agreements and eurodollars
18 Repurchase agreement (10) 46.2 (r) 23.8
19 Eurodollars (10) 20.9 (r) 23.1
May (r) June (r)
Reserves of depository institutions (2)
1 Total 5.3 53.0
2 Required 2.8 48.0
3 Nonborrowed 4.5 49.9
4 Monetary base (3) 5.1 3.4
Concepts of money (3)
5 M1 20.3 13.3
6 M2 17.8 9.5
7 M3 12.4 8.6
Nontransaction components
8 In M2 (5) 17.1 8.5
9 In M3 only (6) .6 6.5
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 23.5 21.5
11 Small time (7) -10.2 -10.9
12 Large time (8), (9) 7.0 -6.6
Thrift institutions
13 Savings, including MMDAs 40.5 13.2
14 Small time (7) 11.8 -13.2
15 Large time (8) 10.2 11.3
Money market mutual funds
16 Retail 9.1 -7.9
17 Institution-only 20.1 20.3
Repurchase agreements and eurodollars
18 Repurchase agreement (10) 19.3 6.3
19 Eurodollars (10) 44.8 -20.9
July
Reserves of depository institutions (2)
1 Total 31.7
2 Required 31.3
3 Nonborrowed 32.7
4 Monetary base (3) .6
Concepts of money (3)
5 M1 5.3
6 M2 9.6
7 M3 22.0
Nontransaction components
8 In M2 (5) 10.8
9 In M3 only (6) 49.5
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 28.1
11 Small time (7) -19.1
12 Large time (8), (9) 154.0
Thrift institutions
13 Savings, including MMDAs 21.4
14 Small time (7) -14.6
15 Large time (8) 34.6
Money market mutual funds
16 Retail -15.0
17 Institution-only 42.1
Repurchase agreements and eurodollars
18 Repurchase agreement (10) -57.9
19 Eurodollars (10) 27.0
(1.) Unless otherwise noted, rates of
change are calculated from average amounts outstanding
during preceding month or quarter.
(2.) Figures incorporate adjustment for
discontinuities, or "breaks," associated with regulation
changes in reserve requirement (See also table 1.20.)
(3.) The seasonally adjusted, break-adjusted base
consist of (1) seasonally
adjusted, break-adjusted total reserve (line.1),
plus (2) the seasonally adjusted currency
component of the money stock, plus (3)
(for all quarterly reports on the "Report of
Transaction Accounts. Other Deposits and Vault
Cash" and for all weekly reports whose
vault cash exceeds their required reserves)
the seasonally adjusted, break-adjusted difference
between current vault cash and the amount
applied to satisfy current requirements.
(4.) Composition of the money stock
measures is as follows:
M1: (1) currency outside the U.S.
Treasury Federal Reserve Banks, and the vaults of
depository institutions, (2) travelers
checks of nonbank issuers, (3) demand deposits at all
commercial banks other than those
owed to depository institutions, the U.S. government, and
foreign banks and official institutions,
less cash items in the process of collection
and Federal
Reserve float, and (4) other checkable
deposits (OCDs), consisting of negotiable order of
withdrawal (NOW) and automatic transfer
service (ATS) accounts at depository institutions,
credit union share draft accounts, and
demand deposits at thrift institutions. Seasonally
adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and
OCD's, each seasonally adjusted separately.
M2: M1 plus (1) savings (including MMDAs),
(2) small-denomination time deposits (time
deposit--including retails RPs--in amounts
of less than $100,000), and (3) balance in retail
money market mutual funds. Excludes individual
retirement accounts (IRAs) and Keogh
balance 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)
balance in institutional money funds,
(3) RP liabilities (overnight and term) issued by all
depository institutions, and (4) eurodollars
(overnight and term) held by U.S. residents at
foreign branches of U.S. banks worldwide
and at all banking offices in the United Kingdom
and Canada Excludes amounts held by
depository institutions, the U.S. government, money
market funds, and foreign banks and official
institutions. Seasonally adjusted M3 is calculated
by summing large time deposits, institutional
money fund balances, RP liabilities, and
eurodollars, each seasonally adjusted separately,
and adding this result to seasonally adjusted
M2.
(5.) Sum of (1) savings deposits (including MMDAs),
(2) small time deposits, and (3) retail
money fund balances, each seasonally adjusted separately.
(6.) Sum of (1) large time deposits,
(2) institutional money fund balances, (3) RP liabilities
(overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and
term) of U.S. addressees, each
seasonally adjusted separately.
(7.) Small time deposits--including retail
RPs--are those issued in amounts of less than
$100,000. All IRA and Keogh account balances
at commercial banks and thrift institutions
are subtracted from small time deposits.
(8.) Large time deposits are those issued
in amounts of $100,000 or more, excluding those
booked at international banking facilities.
(9.) Large time deposits at commercial bank
less those held by money market funds,
depository institutions, the U.S. government,
and foreign banks and official institutions.
(10.) Includes both overnight and term.
1.11 RESERVE BALANCES OF DEPOSITORY INSTITUTIONS (1)
Millions of dollars
Average of
daily figures
Factor 2003
May June
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit 714,217 715,547
outstanding
2 Securities held outright 649,309 651,774
3 U.S. Treasury (2) 649,299 651,764
Bills (3) 237,126 238,596
Notes and bonds nominal (3) 397,882 398,853
6 Notes and bonds, 12,814 12,814
inflation-indexed (3)
7 Inflation compensation (4) 1,477 1,500
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 26,121 25,074
10 Loans to depository institutions 57 174
11 Primary credit 4 100
12 Secondary credit 0 0
13 Seasonal credit 53 74
14 Float -350 -166
15 Other Federal Reserve assets 39,080 38,692
16 Gold stock 11,043 11,044
17 Special drawing rights 2,200 2,200
certificate account
18 Treasury currency outstanding 34,937 35,022 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 690,751 691,893 (r)
20 Reverse repurchase agreements (6) 21,137 22,038
21 Foreign official and 21,137 21,530
international accounts
22 Dealers 0 508
23 Treasury cash holdings 351 375
24 Deposits with Federal Reserve
Banks, other than reserve balances 18,232 18,169
25 U.S. Treasury, general account 6,678 6,747
26 Foreign official 122 157
27 Service-related 11,178 11,028
28 Required clearing balances 10,849 10,832
29 Adjustments to compensate for float 329 196
30 Other 254 237
31 Other liabilities and capital 20,300 20,170
32 Reserve balances with Federal 11,626 11,168
Reserve Banks (7)
SUPPLYING RESERVE FUNDS End-of-month figures
1 Reserve Bank credit outstanding May June
2 Securities held outright
3 U.S. Treasury (2)
4 Bills (3)
5 Notes and bonds, nominal (3) 719,092 722,933
6 Notes and bonds, 651,127 652,128
Inflation-indexed (3) 651,117 652,118
7 Inflation compensation (4) 237,933 238,965
8 Federal agency (3) 398,853 398,853
9 Repurchase agreements (5) 12,814 1,12,814
10 Loans to depository institutions
11 Priamary credit 1,517 1,485
12 Secondary credit 10 10
13 Seasonal credit 30,240 31,750
14 Float 80 768
15 Other Federal Reserve assets 15 686
16 Gold stock 0 0
17 Special drawing rights 65 82
certificate account -599 -525
18 Treasury currency outstanding 38,244 38,812
11,044 11,044
ABSORBING RESERVE FUNDS 2,200 2,200
19 Currency in circulation 34,976 35,065
20 Reverse repurchase
agreements (6)
21 Foreign official and
international accounts 692,355 693,315
22 Dealers 22,285 22,080
23 Treasury cash holdings
24 Deposits with Federal Reserve , 22,285 22,080
Banks, other than
reserve balances 0 0
25 U.S. Treasury, general account 375 365
26 Foreign official
27 Service-related 17,803 19,222
28 Required clearing balances
29 Adjustments to compensate 6,505 6,939
for float 79 898
30 Other 11,003 11,136
31 Other liabilities and capital 10,832 10'838
32 Reserve balances with Federal 170 297
Reserve Banks (7)
217 249
19,973 19,898
14,521 16,364
July
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit 716,576
outstanding
2 Securities held outright 652,630
3 U.S. Treasury (2) 652,620
4 Bills (3) 239,480
5 Notes and bonds nominal (3) 398,853
6 Notes and bonds, 12,814
inflation-indexed (3)
7 Inflation compensation (4) 1,473
8 Federal agency (3) 10
9 Repurchase agreements (5) 24,153
10 Loans to depository institutions 114
11 Primary credit 5
12 Secondary credit 0
13 Seasonal credit 109
14 Float 147
15 Other Federal Reserve assets 39,532
16 Gold stock 11,044
17 Special drawing rights 2,200
certificate account
18 Treasury currency outstanding 35,099
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,585
20 Reverse repurchase agreements (6) 20,180
21 Foreign official and 20,180
international accounts
22 Dealers 0
23 Treasury cash holdings 334
24 Deposits with Federal Reserve
Banks, other than reserve balances 17,943
25 U.S. Treasury, general account 6,213
26 Foreign official 224
27 Service-related 11,192
28 Required clearing balances 10,864
29 Adjustments to compensate for float 327
30 Other 315
31 Other liabilities and capital 19,956
32 Reserve balances with Federal 11,921
Reserve Banks (7)
July
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 721,467
2 Securities held outright 652,913
3 U.S. Treasury (2) 652,903
4 Bills (3) 239,773
5 Notes and bonds, nominal (3) 398,853
6 Notes and bonds, 12,814
Inflation-indexed (3)
7 Inflation compensation (4) 1,462
8 Federal agency (3) 10
9 Repurchase agreements (5) 29,000
10 Loans to depository institutions 145
11 Primary credit 11
12 Secondary credit 0
13 Seasonal credit 133
14 Float -195
15 Other Federal Reserve assets 39,605
16 Gold stock 11,043
17 Special drawing rights 2,200
certificate account
18 Treasury currency outstanding 35,135
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,064
20 Reverse repurchase 19,827
agreements (6)
21 Foreign official and 19,827
international accounts
22 Dealers 0
23 Treasury cash holdings 364
24 Deposits with Federal Reserve ,
Banks, other than 18,219
reserve balances
25 U.S. Treasury, general account 6,356
26 Foreign official 318
27 Service-related 11,287
28 Required clearing balances 10,898
29 Adjustments to compensate 390
for float
30 Other 258
31 Other liabilities and capital 19,674
32 Reserve balances with Federal
17,697
Reserve Banks (7)
Average daily figures for
week ending on date indicated
Factor 2003
June 18 June 25
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit 713,851 717,693
outstanding
2 Securities held outright 651,783 651,960
3 U.S. Treasury (2) 651,773 651,950
4 Bills (3) 238,605 238,790
5 Notes and bonds nominal (3) 398,853 398,853
6 Notes and bonds, 12,814 12,814
inflation-indexed (3)
7 Inflation compensation (4) 1,501 1,493
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 23,179 23,321
10 Loans to depository institutions 74 407
11 Primary credit 3 322
12 Secondary credit 0 0
13 Seasonal credit 71 84
14 Float 4 22
15 Other Federal Reserve assets 38,811 38,983
16 Gold stock 11,044 11,044
17 Special drawing rights 2,200 2,200
certificate account
18 Treasury currency outstanding 35,020 (r) 35,043 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 691,540 (r) 691,146 (r)
20 Reverse repurchase agreements (6) 21,464 22,714
21 Foreign official and 21'142 21,036
international accounts
22 Dealers 321 1,679
23 Treasury cash holdings 379 368
24 Deposits with Federal Reserve
Banks, other than reserve balances 18,555 18,637
25 U.S. Treasury, general account 7,147 7,199
26 Foreign official 88 162
27 Service-related 11,088 11,056
28 Required clearing balances 10,830 10,830
29 Adjustments to compensate for 258 226
float
30 Other 232 220
31 Other liabilities and capital 20,322 20,106
32 Reserve balances with Federal 9,855 13,009
Reserve Banks (7)
SUPPLYING RESERVE FUNDS Wednesday figures
1 Reserve Bank credit outstanding June 18 June 25
2 Securities held outright
3 U.S. Treasury (2)
4 Bills (3)
5 Notes and bonds, nominal (3) 714,955 723,424
6 Notes and bonds, 651,932 652,003
Inflation-indexed (3) 651,922 651,993
7 Inflation compensation (4) 238,756 238,835
8 Federal agency (3) 398,853 398,853
9 Repurchase agreements (5) 12,814 12,814
10 Loans to depository institutions
11 Primary credit 1,498 1,491
12 Secondary credit 10 10
13 Seasonal credit 23,000 32,000
14 Float 86 95
15 Other Federal Reserve assets 3 3
16 Gold stock 0 0
17 Special drawing rights 83 92
certificate account 1,131 323
18 Treasury currency outstanding 38,806 39,003
11,044 11,044
ABSORBING RESERVE FUNDS 2,200 2,200
19 Currency in circulation 35,020 35,043
20 Reverse repurchase
agreements (6)
21 Foreign official and
international accounts 692,525 692,710
22 Dealers 22,901 21,592
23 Treasury cash holdings
24 Deposits with Federal Reserve , 20,651 21,592
Banks, other than
reserve balances 2,250 0
25 U.S. Treasury, general account 368 365
26 Foreign official
27 Service-related 19,499 16,987
28 Required clearing balances
29 Adjustments to compensate 8,086 5,306
for float 96 404
30 Other 11,088 11,056
31 Other liabilities and capital 10,830 10,830
32 Reserve balances with Federal 258 226
Reserve Banks (7)
229 220
19,937 20,021
7,990 20,036
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit 719,477 718,395
outstanding
2 Securities held outright 652,162 652,443
3 U.S. Treasury (2) 652,152 652,433
4 Bills (3) 238,998 239,285
5 Notes and bonds nominal (3) 398,853 398,853
6 Notes and bonds, 12,814 12,814
inflation-indexed (3)
7 Inflation compensation (4) 1,486 1,480
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 28,714 26,000
10 Loans to depository institutions 188 99
11 Primary credit 99 8
12 Secondary credit 0 0
15 Other Federal Reserve assets 39,040 39,233
16 Gold stock 11,044 11,044
17 Special drawing rights 2,200 2,200
certificate account
18 Treasury currency outstanding 35,065 35,079
ABSORBING RESERVE FUNDS
19 Currency in circulation 693,612 697,860
20 Reverse repurchase agreements (6) 23,129 20,844
21 Foreign official and 23,129 20,844
international accounts
22 Dealers 0 0
23 Treasury cash holdings 360 327
24 Deposits with Federal Reserve
Banks, other than reserve balances 17,882 17,742
25 U.S. Treasury, general account 6,087 6,218
26 Foreign official 412 279
27 Service-related 11,136 11,016
28 Required clearing balances 10,838 10,838
29 Adjustments to compensate for 297 178
float
30 Other 248 229
31 Other liabilities and capital 20,045 19,817
32 Reserve balances with Federal 12,758 10,128
Reserve Banks (7)
July 2 July 9
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 717,341 722,448
2 Securities held outright 652,363 652,461
3 U.S. Treasury (2) 652,353 652,451
4 Bills (3) 239,201 239,305
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds, 12,814 12,814
Inflation-indexed (3)
7 Inflation compensation (4) 1,484 1,479
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 26,000 29,250
10 Loans to depository institutions 92 104
11 Primary credit 1 1
12 Secondary credit 0 2
13 Seasonal credit 91 102
14 Float -144 1,336
15 Other Federal Reserve assets 39,030 39,298
16 Gold stock 11,044 11,044
17 Special drawing rights 2,200 2,200
certificate account
18 Treasury currency outstanding 35,065 35,079
ABSORBING RESERVE FUNDS
19 Currency in circulation 698,314 697,411
20 Reverse repurchase 21,045 20,254
agreements (6)
21 Foreign official and 21,045 20,254
international accounts
22 Dealers 0 0
23 Treasury cash holdings 327 327
24 Deposits with Federal Reserve ,
Banks, other than 17,539 17,925
reserve balances
25 U.S. Treasury, general account 5,707 6,356
26 Foreign official 476 327
27 Service-related 11,136 11,016
28 Required clearing balances 10,838 10,838
29 Adjustments to compensate 297 178
for float
30 Other 220 225
31 Other liabilities and capital 19,635 19,675
32 Reserve balances with Federal 8,790 15,180
Reserve Banks (7)
July 16 July 23
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit 715,469 716,706
outstanding
2 Securities held outright 652,538 652,764
3 U.S. Treasury (2) 652,528 652,754
4 Bills (3) 239,385 239,616
5 Notes and bonds nominal (3) 398,853 398,583
6 Notes and bonds, 12,814 12,814
inflation-indexed (3)
7 Inflation compensation (4) 1,475 1,470
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 22,893 24,250
10 Loans to depository institutions 114 119
11 Primary credit 6 4
12 Secondary credit 1 0
13 Seasonal credit 107 115
14 Float 452 42
15 Other Federal Reserve assets 39,472 39,531
16 Gold stock 11,044 11,044
17 Special drawing rights 2,200 2,200
certificate account
18 Treasury currency outstanding 35,093 35,107
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,522 692,713
20 Reverse repurchase agreements (6) 20,067 19,677
21 Foreign official and 20,067 19,677
international accounts
22 Dealers 0 0
23 Treasury cash holdings 327 330
24 Deposits with Federal Reserve
Banks, other than reserve balances 17,957 18,098
25 U.S. Treasury, general account 6,479 6,067
26 Foreign official 109 124
27 Service-related 11,062 11,401
28 Required clearing balances 10,863 10,863
29 Adjustments to compensate for 199 538
float
30 Other 307 506
31 Other liabilities and capital 19,878 20,000
32 Reserve balances with Federal 11,054 14,238
Reserve Banks (7)
July 16 July 23
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 716,149 724,764
2 Securities held outright 652,700 652,837
3 U.S. Treasury (2) 652,690 652,827
4 Bills (3) 239,550 239,692
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds, 12,814 12,814
Inflation-indexed (3)
7 Inflation compensation (4) 1,473 1,468
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 24,000 32,000
10 Loans to depository institutions 121 118
11 Primary credit 8 1
12 Secondary credit 0 0
13 Seasonal credit 113 118
14 Float 37 -32
15 Other Federal Reserve assets 39,230 39,841
16 Gold stock 11,044 11,044
17 Special drawing rights 2,200 2,200
certificate account
18 Treasury currency outstanding 35,093 35,107
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,748 693,626
20 Reverse repurchase 20,346 19,672
agreements (6)
21 Foreign official and 20,346 19,672
international accounts
22 Dealers 0 0
23 Treasury cash holdings 329 329
24 Deposits with Federal Reserve ,
Banks, other than 17,233 18,014
reserve balances
25 U.S. Treasury, general account 5,724 6,058
26 Foreign official 128 134
27 Service-related 11,062 11,400
28 Required clearing balances 10,863 10,862
29 Adjustments to compensate 199 538
for float
30 Other 318 423
31 Other liabilities and capital 19,649 20,085
32 Reserve balances with Federal 12,180 21,380
Reserve Banks (7)
July 30
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit 713,382
outstanding
2 Securities held outright 652,843
3 U.S. Treasury (2) 652,833
4 Bills (3) 239,701
5 Notes and bonds nominal (3) 398,853
6 Notes and bonds, 12,814
inflation-indexed (3)
7 Inflation compensation (4) 1,465
8 Federal agency (3) 10
9 Repurchase agreements (5) 20,857
10 Loans to depository institutions 126
11 Primary credit 1
12 Secondary credit 0
13 Seasonal credit 125
14 Float -477
15 Other Federal Reserve assets 40,033
16 Gold stock 11,044
17 Special drawing rights 2,200
certificate account
18 Treasury currency outstanding 35,121
ABSORBING RESERVE FUNDS
19 Currency in circulation 692,558
20 Reverse repurchase agreements (6) 19,916
21 Foreign official and 19,916
international accounts
22 Dealers 0
23 Treasury cash holdings 343
24 Deposits with Federal Reserve
Banks, other than reserve balances 18,005
25 U.S. Treasury, general account 6,205
26 Foreign official 259
27 Service-related 11,209
28 Required clearing balances 10,896
29 Adjustments to compensate for 394
float
30 Other 251
31 Other liabilities and capital 20,228
32 Reserve balances with Federal) 10,696
Reserve Banks (7)
July 30
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 718,066
2 Securities held outright 652,866
3 U.S. Treasury (2) 652,856
4 Bills (3) 239,726
5 Notes and bonds, nominal (3) 398,853
6 Notes and bonds, 12,814
Inflation-indexed (3)
7 Inflation compensation (4) 1,463
8 Federal agency (3) 10
9 Repurchase agreements (5) 26,250
10 Loans to depository institutions 141
11 Primary credit 5
12 Secondary credit 0
13 Seasonal credit 137
14 Float -1,187
15 Other Federal Reserve assets 39,996
16 Gold stock 11,043
17 Special drawing rights 2,200
certificate account
18 Treasury currency outstanding 35,121
ABSORBING RESERVE FUNDS
19 Currency in circulation 694,578
20 Reverse repurchase 19,316
agreements (6)
21 Foreign official and 19,316
international accounts
22 Dealers 0
23 Treasury cash holdings 364
24 Deposits with Federal Reserve,
Banks, other than 18,561
reserve balances
25 U.S. Treasury, general account 6,174
26 Foreign official 11,290
27 Service-related 10,896
28 Required clearing balances 10,896
29 Adjustments to compensate 394
for float
30 Other 246
31 Other liabilities and capital 19,745
32 Reserve balances with Federal 13,866
Reserve Banks (7)
(1.) Amounts of vault cash held as reserves are shown in table 1.12,
line 2.
(2.) Includes securities lent to dealers, which are fully collateralized
by other U.S. Treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjusts for the effect if inflation on the
original face value of
inflation-indexed securities.
(5.) Cash value of agreements, which are fully collateralized by U.S.
Treasury and federal
agency securities.
(6.) Cash value of agreements, which are fully collateralized by U.S.
Treasury securities.
(7.) Excludes required clearing balances and adjustments to compensate
for float.
1.12 RESERVE AND BORROWINGS Depository Institutions (1)
Million of dollars
Prorated monthly averages
of biweekly average
Reserve classification 2000 2001
Dec. Dec.
1 Reserve balance with 7,022 9,053
Reserve Banks (2)
2 Total vault cash (3) 45,246 43,918
3 Applied vault cash (4) 31,451 32,024
4 Surplus vault cash (5) 13,795 11,894
5 Total reserve (6) 38,473 41,077
6 Required reserves 37,046 39,428
7 Excess reserve balance 1,427 1,649
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 210 67
9 Primary ... ...
10 Secondary ... ...
11 Seasonal 111 33
12 Adjustment 99 34
2002
Dec.
1 Reserve balance with 9,926
Reserve Banks (2)
2 Total vault cash (3) 43,368
3 Applied vault cash (4) 30,347
4 Surplus vault cash (5) 13,021
5 Total reserve (6) 40,274
6 Required reserves 38,264
7 Excess reserve balance 2,009
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 80
9 Primary ...
10 Secondary ...
11 Seasonal 45
12 Adjustment 35
2003
Jan. Feb.
1 Reserve balance with 10,075 9,860
Reserve Banks (2)
2 Total vault cash (3) 46,209 (r) 45,924 (r)
3 Applied vault cash (4) 32,794 32,079
4 Surplus vault cash (5) 13,415 (r) 13,863 (r)
5 Total reserve (6) 42,869 41,939
6 Required reserves 41,162 39,973
7 Excess reserve balance 1,707 1,965
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 27 25
9 Primary 12 21
10 Secondary 0 0
11 Seasonal 13 5
12 Adjustment 2 ...
2003
Mar. Apr.
1 Reserve balance with 9,840 10,598
Reserve Banks (2)
2 Total vault cash (3) 43,088 (r) 41,991 (r)
3 Applied vault cash (4) 30,757 30,574
4 Surplus vault cash (5) 12,331 (r) 11,417 (r)
5 Total reserve (6) 40,597 41,172
6 Required reserves 38,961 39,640
7 Excess reserve balance 1,636 1,532
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 22 29
9 Primary 14 8
10 Secondary 0 0
11 Seasonal 8 21
12 Adjustment ... ...
May June
1 Reserve balance with 11,405 11,297 (r)
Reserve Banks (2)
2 Total vault cash (3) 41,636 (r) 41,961 (r)
3 Applied vault cash (4) 30,395 30,574
4 Surplus vault cash (5) 11,241 (r) 11,386 (r)
5 Total reserve (6) 41,801 41,872 (r)
6 Required reserves 40,182 40,018
7 Excess reserve balance 1,619 1,854 (r)
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 55 161
9 Primary 3 87
10 Secondary 0 0
11 Seasonal 53 74
12 Adjustment ... ...
July
1 Reserve balance with 12,158
Reserve Banks (2)
2 Total vault cash (3) 42,657 (r)
3 Applied vault cash (4) 31,438
4 Surplus vault cash (5) 11,220
5 Total reserve (6) 43,595
6 Required reserves 41,679
7 Excess reserve balance 1,916
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 130
9 Primary 21
10 Secondary 0
11 Seasonal 110
12 Adjustment ...
Reserve classification
Biweekly average of daily figures for
for two-week periods
ending on dates indicated
2003
Apr. 2 Apr. 16
1 Reserve balance with 9,843 9,452
Reserve Banks (2)
2 Total vault cash (3) 43,918 (r) 41,682 (r)
3 Applied vault cash (4) 31,830 29,833
4 Surplus vault cash (5) 12,098 (r) 11,849 (r)
5 Total reserve (6) 41,672 39,285
6 Required reserves 40,058 37,784
7 Excess reserve balance 1,614 1,501
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 11 33
9 Primary 3 15
10 Secondary 0 0
11 Seasonal 8 18
12 Adjustment ... ...
Apr. 30 May. 14
1 Reserve balance with 11,852 9,772
Reserve Banks (2)
2 Total vault cash (3) 42,024 (r) 41,432 (r)
3 Applied vault cash (4) 31,136 29,696
4 Surplus vault cash (5) 10,889 (r) 11,736 (r)
5 Total reserve (6) 42,987 39,468
6 Required reserves 41,436 37,924
7 Excess reserve balance 1,551 1,543
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 29 51
9 Primary 2 3
10 Secondary 0 0
11 Seasonal 27 48
12 Adjustment ... ...
May 28 June 11
1 Reserve balance with 13,116 11,050
Reserve Banks (2)
2 Total vault cash (3) 41,968 (r) 41,040 (r)
3 Applied vault cash (4) 31,211 29,854
4 Surplus vault cash (5) 10,758 (r) 11,186 (r)
5 Total reserve (6) 44,326 40,904
6 Required reserves 42,712 38,909
7 Excess reserve balance 1,614 1,994
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 58 69
9 Primary 2 7
10 Secondary 0 0
11 Seasonal 56 63
12 Adjustment ... ...
June 25 July 9 (r)
1 Reserve balance with 11,437 11,453
Reserve Banks (2)
2 Total vault cash (3) 42,303 (r) 43,030
3 Applied vault cash (4) 30,798 31,534
4 Surplus vault cash (5) 11,505 (r) 11,497
5 Total reserve (6) 42,235 42,986
6 Required reserves 40,631 40,744
7 Excess reserve balance 1,604 2,242
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 241 144
9 Primary 163 54
10 Secondary 0 0
11 Seasonal 78 90
12 Adjustment ... ...
July 23 Aug. 6
1 Reserve balance with 12,644 12,00
Reserve Banks (2)
2 Total vault cash (3) 41,789 43,758
3 Applied vault cash (4) 30,545 32,892
4 Surplus vault cash (5) 11,244 10,866
5 Total reserve (6) 43,189 44,991
6 Required reserves 41,601 42,867
7 Excess reserve balance 1,588 2,124
at Reserve Banks (7)
8 Total borrowing at Reserve Banks 117 140
9 Primary 5 11
10 Secondary 1 0
11 Seasonal 111 129
12 Adjustment ... ...
(1.) Data in this table also appear in the
Board's H.3 (502) weekly statistical release. For
ordering address, see inside front cover.
Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balance 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 reserve 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).
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit (1)
Federal Reserve
Bank On
9/19/2003 Effective date Previous rate
Boston 2.00 6/25/03 2.25
New York 2.00 6/25/03 2.25
Philadelphia 2.00 6/26/03 2.25
Cleveland 2.00 6/26/03 2.25
Richmond 2.00 6/26/03 2.25
Atlanta 2.00 6/26/03 2.25
Chicago 2.00 6/26/03 2.25
St. Louis 2.00 6/26/03 2.25
Minneapolis 2.00 6/26/03 2.25
Kansas City 2.00 6/26/03 2.25
Dallas 2.00 6/25/03 2.25
San Francisco 2.00 6/26/03 2.25
Secondary credit (2)
Federal Reserve
Bank On
9/19/2003 Effective date Previous rate
Boston 2.50 6/25/03 2.75
New York 2.5 6/25/03 2.75
Philadelphia 2.50 6/26/03 2.75
Cleveland 2.50 6/25/03 2.75
Richmond 2.50 6/25/03 2.75
Atlanta 2.50 6/25/03 2.75
Chicago 2.50 6/26/03 2.75
St. Louis 2.50 6/26/03 2.75
Minneapolis 2.50 6/26/03 2.75
Kansas City 2.50 6/25/03 2.75
Dallas 2.50 6/26/03 2.75
San Francisco 2.50 6/25/03 2.75
Seasonal credit (3)
Federal Reserve
Bank On
9/19/03 Effective date Previous rate
Boston 1.05 9/4/03 1.10
New York 1.05 9/4/03 1.10
Philadelphia 1.05 9/4/03 1.10
Cleveland 1.05 9/4/03 1.10
Richmond 1.05 9/4/03 1.10
Atlanta 1.05 9/4/03 1.10
Chicago 1.05 9/4/03 1.10
St. Louis 1.05 9/4/03 1.10
Minneapolis 1.05 9/4/03 1.10
Kansas City 1.05 9/4/03 1.10
Dallas 1.05 9/4/03 1.10
San Francisco 1.05 9/4/03 1.10
Range of rates for primary credit
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Jan. 9, 2003 2.25 2.25
(beginning of program)
2003--June 25 2.00-2.25 2.00
26 2.00 2.00
In effect September 19, 2003 2.00 2.00
Range (or
Effective date Effective date level)--All
F.R. Banks
In effect Jan. 9, 2003
(beginning of program)
2003--June 25
26
In effect September 19, 2003
F.R. Bank
Effective date level)--All Effective date
N.Y.
In effect Jan. 9, 2003
(beginning of program)
2003--June 25
26
In effect September 19, 2003
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Jan. 9, 2003
(beginning of program)
2003--June 25
26
In effect September 19, 2003
Range of rates for adjustment credit in recent year (4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1995 5.25 5.25
1996--Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998--Oct. 15 4.75-'5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
Range (or
Effective date Effective date level)--All
F.R. Banks
In effect Dec. 31, 1995 2000--Feb. 2 5.00-5.25
4 5.25
1996--Jan. 31 Mar. 21 5.25-5.50
Feb. 3 23 5.50
May 16 5.50-6.00
1998--Oct. 15 19 6.00
16
Nov. 17 2001--Jan. 3 5.75-6.00
19 4 5.50-5.75
5 5.50
1999--Aug. 24 31 5.00-5.50
26 Feb. 1 5.00
Nov. 16 Mar. 20 4.50-5.00
18 21 4.50
Apr. 18 4.00-4.50
20 4.00
2001--May 15 3.50-4.00
17 3.50
F.R. Bank
Effective date level)--All Effective date
N.Y.
In effect Dec. 31, 1995 5.25 2001--June 27
5.25 29
1996--Jan. 31 5.5 Aug. 21
Feb. 3 5.50 23
5.50 Sept. 17
1998--Oct. 15 6.00 18
16 Oct. 2
Nov. 17 5.75 4
19 5.50 Nov. 6
5.50 8
1999--Aug. 24 5.00 Dec. 11
26 5.00 13
Nov. 16 4.50
18 4.50 2002--Nov. 6
4.00 7
4.00
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1995 3.25-3.50 3.25
3.25 3.25
1996--Jan. 31 3.00-3.25 3.00
Feb. 3 3.00 3.00
2.50-3.00 2.50
1998--Oct. 15 2.50 2.50
16 2.00-2.50 2.00
Nov. 17 2.00 2.00
19 1.50-2.00 1.50
1.50 1.50
1999--Aug. 24 1.25-1.50 1.25
26 1.25 1.25
Nov. 16
18 0.75-1.25 0.75
0.75 0.75
(1.) Available for very short terms as a backup
source of liquidity to depository institutions
that are in generally sound financial condition
in the judgment of the lending Federal Reserve
Bank.
(2.) Available in appropriate circumstances
to depository institutions that do not qualify for
primary credit.
(3.) Available to help relatively small
depository institutions meet regular seasonal needs for
funds that arise from a clear pattern of intra yearly
movements in their deposits and loans and
that cannot be met through special industry
lenders. The discount rate on seasonal credit
takes into account rates charged by market
sources of funds and ordinarily is reestablished on
the first business day of each two-week
reserve maintenance period.
(4.) Was available until January 8, 2003, to
help depository institutions meet temporary
needs for funds that could not be met through
reasonable alternative sources. For earlier data,
see the following publication of the Board of
Governors: Banking and Monetary Statistics.
1914-1941, and 1941-1970; and the Statistical
Digest, 1970-1979, 1980-1989, and
1990-1995. See also the Board's Statistics:
Release and Historical Data web pages
(http://www.federalreserve.gov/release/H15/data.htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Type of deposit Percentage Effective date
Net transactions (2)
1 $0 millions-$6 millions (3) 0 12/26/02
2 More than $6 3 12/26/02
millions-$42.1 million (4)
3 More than $42.1 millions (5) 10 12/26/02
4 Nonpersonal time deposits (6) 0 12/27/90
5 Eurocurrency liabilities (7) 0 12/27/90
(1.) Required reserves must be held in
the from 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 requirement 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 bank, savings and loan associations,
credit unions, agencies and branches of
foreign bank, and Edge Act corporations.
(2.) Transaction accounts include all deposits
against which the account holder is permitted
to make withdrawals by negotiable or transferable
instruments, payment orders of withdrawal, or
telephone or preauthorized transfer 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 transfer per
month (of which no more than three may be
by check, draft, debit card, or similar
order payable directly to third parties) are savings
deposits, not transaction accounts.
(3.) Under the Garn-St Germain Depository
Institutions Act of 1982, the Board adjusts the
amount of reversible liabilities subject to a
zero percent reserve requirement each year for the
succeeding calendar year by 80 percent of the
percentage increase in the total reservable
liabilities of all depository institutions,
measured on an annual basis as of June 30. No
corresponding adjustment is made in the
event of a decrease. The exemption applies only to
accounts that would be subject to a 3 percent
reserve requirement. Effective with the reserve
maintenance period beginning December 26, 2002,
for depository institutions that report
weekly, and with the period beginning January 16, 2003,
for institutions that quarterly,
the exemption was raised from $5.7 million to $6.0 million.
(4.) The Monetary Control Act of 1980 requires that
the amount of transaction accounts
against which the 3 percent reserve requirement
applies be modified annually by 80 percent of
the percentage change in transaction accounts
held by all institutions, determined
as of June 30 of each year. Effective with
the reserve maintenance period beginning
December 26, 2002, for depository institutions
that report weekly, and with the period
beginning January 16, 2003, for institutions
that report quarterly, the amount was increased
from $41.3 millions to $42.1 million.
(5.) The reserve requirement was reduced from
12 percent to 10 percent on April 2, 1992.
for institutions that report weekly, and on
April 16, 1992, for institutions that reports quarterly.
(6.) For institutions that report weekly,
the reserve requirement on nonpersonal time deposits
with an original maturity of less than 1.5
years was reduced from 3 percent to 1.5 percent for
the maintenance period that began December 13, 1990,
and to zero for the maintenance
period that began December 27, 1990.
For institutions that report quarterly, the reserve
requirement on nonpersonal time deposits with
an original maturity of less than 1.5 years was
reduced from 3 percent to zero on January 17, 1991.
The reserve requirement on nonpersonal
time deposits with an original maturity of 1.5
years or more has been zero since October 6, 1983.
(7.) The reserve requirement on eurocurrency
liabilities was reduced from 3 percent to zero
in the same manner and on the same dates as
the reserve requirement on nonpersonal time
deposits with an original maturity of
less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
Type of transactions 2000 2001 2002
and maturity
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 8,676 15,503 21,421
2 Gross sales 0 0 0
3 Exchanges 477,904 542,736 657,931
4 For new bills 477,904 542,736 657,931
5 Redemptions 24,522 10,095 0
Others within one year
6 Gross purchases 8,809 15,663 12,720
7 Gross sales 0 0 0
8 Maturity shifts 62,025 70,336 89,108
9 Exchanges -54,656 -72,004 -92,075
10 Redemptions 3,799 16,802 0
One to five years
11 Gross purchases 14,482 22,814 12,748
12 Gross sales 0 0 0
13 Maturity shifts -52,068 -45,211 -73,093
14 Exchanges 46,177 64,519 88,276
Five to ten years
15 Gross purchases 5,871 6,003 5,074
16 Gross sales 0 0 0
17 Maturity shifts -6,801 -21,063 -11,588
18 Exchanges 6,585 6,063 3,800
More than ten years
19 Gross purchases 5,833 8,531 2,280
20 Gross sales 0 0 0
21 Maturity shifts -3,155 -4,062 -4,427
22 Exchanges 1,894 1,423 0
All maturities
23 Gross purchases 43,670 68,513 54,242
24 Gross sales 0 0 0
25 Redemptions 28,301 26,897 0
26 Net change in U.S. 15,369 41,616 54,242
Treasury securities
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0 0
28 Gross sales 0 0 0
29 Redemptions 51 120 0
30 Net change in -51 -120 0
federal agency
obligations
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 890,236 1,497,713 1,143,126
32 Gross sales 987,501 1,490,838 1,153,876
Matched sale-purchase
agreements
33 Gross purchase 4,415,905 4,722,667 4,981,624
34 Gross sales 4,397,835 4,724,743 4,958,437
Reverse repurchase
agreements (4)
35 Gross purchases 0 0 231,272
36 Gross sales 0 0 252,363
37 Net change in -79,195 4,800 -8,653
temporary
transactions
38 Total net change in -63,877 46,295 45,589
System Open Market
Account
2002
Type of transactions
and maturity Dec. Jan. Feb.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 0 0 4,161
2 Gross sales 0 0 0
3 Exchanges 53,374 71,075 53,860
4 For new bills 53,374 71,075 53,860
5 Redemptions 0 0 0
Others within one year
6 Gross purchases 0 0 478
7 Gross sales 0 0 0
8 Maturity shifts 13,448 6,216 3,214
9 Exchanges -12,059 -6,834 -13,313
10 Redemptions 0 0 0
One to five years
11 Gross purchases 339 0 2,127
12 Gross sales 0 0 0
13 Maturity shifts -13,448 -6,216 2,160
14 Exchanges 12,059 6,834 11,817
Five to ten years
15 Gross purchases 314 0 769
16 Gross sales 0 0 0
17 Maturity shifts 0 0 -3,877
18 Exchanges 0 0 1,497
More than ten years
19 Gross purchases 0 0 0
20 Gross sales 0 0 0
21 Maturity shifts 0 0 -1,497
22 Exchanges 0 0 0
All maturities
23 Gross purchases 653 0 7,534
24 Gross sales 0 0 0
25 Redemptions 0 0 0
26 Net change in U.S. 653 0 7,534
Treasury securities
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0 0
28 Gross sales 0 0 0
29 Redemptions 0 0 0
30 Net change in 0 0 0
federal agency
obligations
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 112,750 135,749 121,896
32 Gross sales 101,750 150,499 119,746
Matched sale-purchase
agreements
33 Gross purchase 195,565 0 0
34 Gross sales 175,820 0 0
Reverse repurchase
agreements (4)
35 Gross purchases 231,272 392,530 343,748
36 Gross sales 252,363 389,810 343,395
37 Net change in 9,654 -12,029 2
temporary
transactions
38 Total net change in 10,307 -12,029 7,537
System Open Market
Account
2003
Type of transactions
and maturity Mar. Apr. May June
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 1,863 3,543 1,684 1,032
2 Gross sales 0 0 0 0
3 Exchanges 47,424 51,834 76,354 60,706
4 For new bills 47,424 51,834 76,354 60,706
5 Redemptions 0 0 0 0
Others within one year
6 Gross purchases 1,318 1,422 786 0
7 Gross sales 0 0 0 0
8 Maturity shifts 8,334 8,333 7,228 7,531
9 Exchanges -8,211 -7,293 -6,999 -6,700
10 Redemptions 0 0 0 0
One to five years
11 Gross purchases 710 733 1,057 0
12 Gross sales 0 0 0 0
13 Maturity shifts -8,334 -8,333 -1,513 -7,531
14 Exchanges 8,211 7,293 6,747 6,700
Five to ten years
15 Gross purchases 522 0 234 0
16 Gross sales 0 0 0 0
17 Maturity shifts 0 0 -5,463 0
18 Exchanges 0 0 252 0
More than ten years
19 Gross purchases 50 0 0 0
20 Gross sales 0 0 0 0
21 Maturity shifts 0 0 -252 0
22 Exchanges 0 0 0 0
All maturities
23 Gross purchases 4,463 5,699 3,761 1,032
24 Gross sales 0 0 0 0
25 Redemptions 0 0 0 0
26 Net change in U.S. 4,463 5,699 3,761 1,032
Treasury securities
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0 0 0
28 Gross sales 0 0 0 0
29 Redemptions 0 0 0 0
30 Net change in federal 0 0 0 0
agency obligations
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 95,001 112,251 124,741 90,500
32 Gross sales 90,151 106,500 132,002 88,990
Matched sale-purchase
agreements
33 Gross purchase 0 0 0 0
34 Gross sales 0 0 0 0
Reverse repurchase
agreements (4)
35 Gross purchases 388,069 451,149 441,555 456,652
36 Gross sales 389,469 452,545 443,025 456,447
37 Net change in 2,200 2,104 -8,731 -6,535
temporary
transactions
38 Total net change in 6,664 7,803 -4,971 -5,504
System Open Market
Account
(1.) Sales, redemptions, and negative figures reduce holdings of the
system Open Market Account; all other figures increase such holdings.
(2.) Transactions exclude changes in compensation for the effects of
inflation
on the principal of inflation-indexed securities. Transactions include
the rollover of inflation compensation into new securities.
(3.) Cash value of agreements, which are collateralized by U.S.
government and federal agency obligations.
(4.) Cash value of agreements, which are collateralized by U.S.
securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal
Reserve Note Statements (1)
Millions of dollars
Wednesday
2003
Account
July 2 July 9 July 16
Consolidated condition statement
ASSETS
1 Gold certificate account 11,039 11,039 11,039
2 Special drawing rights 2,200 2,200 2,200
certificate account
3 Coin 904 874 872
4 Securities, repurchase 678,454 681,815 676,822
agreements, and loans
5 Securities held outright 652,363 652,461 652,700
6 U.S. Treasury (2) 652,353 652,451 652,690
7 Bills (3) 239,201 239,305 239,550
8 Notes and bonds, 398,853 398,853 398,853
nominal (3)
9 Notes and bonds, 12,814 12,814 12,814
inflation-indexed (3)
10 Inflation 1,484 1,479 1,473
compensation (4)
11 Federal agency (3) 10 10 10
12 Repurchase agreements (5) 26,000 29,250 24,000
13 Loans 92 104 121
14 Items in process of 9,457 10,110 8,534
collection
15 Bank premises 1,581 1,582 1,585
16 Other assets 37,400 37,712 37,607
17 Denominated in foreign 17,951 17,824 17,714
currencies (6)
18 All other (7) 19,448 19,888 19,893
19 Total assets 741,035 745,332 738,658
LIABILITIES
20 Federal Reserve notes, 664,475 663,529 660,851
net of F.R. Bank holdings
21 Reserve repurchase 21,045 20,254 20,346
agreements (8)
22 Deposits 26,422 33,497 29,600
23 Depository institutions 20,019 26,571 23,429
24 U.S. Treasury, general 5,707 6,356 5,724
account
25 Foreign official 476 327 128
26 Other 220 225 318
27 Deferred availability cash 9,457 8,395 8,211
items
28 Other liabilities and 2,101 2,107 2,080
accrued dividends (9)
29 Total liabilities 723,500 727,764 721,089
CAPITAL ACCOUNTS
30 Capital paid in 8,659 8,660 8,662
31 Surplus 8,380 8,378 8,378
32 Other capital accounts 496 529 529
33 Total capital 17,535 17,567 17,569
MEMO
34 Marketable securities
held in custody for foreign
official and international
accounts (3,10) 951,017 938,109 939,558
35 U.S. Treasury 763,039 755,623 756,862
36 Federal agency 187,977 182,486 182,696
37 Securities lent to dealers 2,461 609 661
38 Federal Reserve notes
outstanding 767,466 768,847 770,017
39 Less: Notes held by F.R.
Banks not subject to
collateralization 98,395 100,612 104,446
40 Federal Reserve notes
to be collateralized 669,071 668,236 665,571
41 Collateral held against
Federal Reserve notes 669,071 668,236 665,571
42 Gold certificate account 11,039 11,039 11,039
43 Special drawing rights
certificate account 2,200 2,200 2,200
44 U.S. Treasury and agency
securities pledged (11) 655,832 654,996 652,331
45 Other eligible assets 0 0 0
MEMO
46 Total U.S. Treasury and
agency securities (11) 678,363 681,711 676,700
47 Less: face value of
securities under reverse
repurchase agreements (12) 21,050 20,258 20,351
48 U.S. Treasury and agency
securities eligible to be
pledged 657,313 661,453 656,349
Wednesday
2003
July 23 July 30
Consolidated condition statement
ASSETS
1 Gold certificate account 11,039 11,039
2 Special drawing rights 2,200 2,200
certificate account
3 Coin 872 869
4 Securities, repurchase 684,956 679,257
agreements, and loans
5 Securities held outright 652,837 652,866
6 U.S. Treasury (2) 652,827 652,856
7 Bills (3) 239,692 239,726
8 Notes and bonds, 398,853 398,853
nominal (3)
9 Notes and bonds, 12,814 12,814
inflation-indexed (3)
10 Inflation compensation 1,468 1,463
11 Federal agency (3) 10 10
12 Repurchase agreements (5) 32,000 26,250
13 Loans 118 141
14 Items in process of 7,680 7,843
collection
15 Bank premises 1,588 1,586
16 Other assets 38,216 38,377
17 Denominated in foreign 17,921 17,707
currencies (6)
18 All other (7) 20,295 20,670
19 Total assets 746,550 741,172
LIABILITIES
20 Federal Reserve notes, 659,725 660,686
net of F.R. Bank holdings
21 Reserve repurchase 19,672 19,316
agreements (8)
22 Deposits 39,452 33,151
23 Depository institutions 32,837 25,879
24 U.S. Treasury, general 6,058 6,174
account
25 Foreign official 134 852
26 Other 423 246
27 Deferred availability cash 7,617 8,275
items
28 Other liabilities and 2,138 2,151
accrued dividends (9)
29 Total liabilities 728,603 723,578
CAPITAL ACCOUNTS
30 Capital paid in 8,714 8,719
31 Surplus 8,380 8,363
32 Other capital accounts 852 513
33 Total capital 17,947 17,594
MEMO
34 Marketable securities
held in custody for foreign
official and international
accounts (3,10) 931,836 930,019
35 U.S. Treasury 749,564 746,813
36 Federal agency 182,272 183,207
37 Securities lent to dealers 1,688 2,534
Federal Reserve notes and
collateral statement
38 Federal Reserve notes
outstanding 772,010 774,095
39 Less: Notes held by F.R.
Banks not subject to
collateralization 107,559 108,713
40 Federal Reserve notes
to be collateralized 664,451 665,381
41 Collateral held against
Federal Reserve notes 664,451 665,381
42 Gold certificate account 11,039 11,039
43 Special drawing rights
certificate account 2,200 2,200
44 U.S. Treasury and agency
securities pledged (11) 651,211 652,142
45 Other eligible assets 0 0
MEMO
46 Total U.S. Treasury and
agency securities (11) 684,837 679,116
47 Less: face value of
securities under reverse
repurchase agreements (12) 19,677 19,321
48 U.S. Treasury and agency
securities eligible to be
pledged 665,161 659,795
End of month
2003
Account
May June July
ASSETS
1 Gold certificate account 11,040 11,040 11,039
2 Special drawing rights 2,200 2,200 2,200
certificate account
3 Coin 924 942 878
4 Securities, repurchase 681,447 684,646 682,057
agreements, and loans
5 Securities held outright 651,127 652,128 652,913
6 U.S. Treasury (2) 651,117 652,118 652,903
7 Bills 237,933 238,965 239,773
8 Notes and bonds, 398,853 398,853 398,853
nominal (3)
9 Notes and bonds, 12,814 12,814 12,814
inflation-indexed (3)
10 Inflation 1,517 1,485 1,462
compensation (4)
11 Federal agency (3) 10 10 10
12 Repurchase agreements (5) 30,240 31,750 29,000
13 Loans 80 768 145
14 Items in process of 5,684 2,330 6,558
collection
15 Bank premises 1,579 1,580 1,586
16 Other assets 36,689 37,195 38,004
17 Denominated in foreign 18,080 17,849 17,598
currencies (6)
18 All other 18,609 19,346 20,406
19 Total assets 739,563 739,932 742,321
LIABILITIES
20 Federal Reserve notes, 658,674 659,552 660,167
net of F.R. Bank holdings
21 Reserve repurchase 22,285 22,080 19,827
agreements (8)
22 Deposits 32,470 35,806 35,972
23 Depository institutions 25,669 27,720 29,041
24 U.S. Treasury, general 6,505 6,939 6,356
account
25 Foreign official 79 898 318
26 Other 217 249 258
27 Deferred availability cash 6,161 2,596 6,681
items
28 Other liabilities and 2,329 2,227 2,143
accrued dividends (9)
29 Total liabilities 721,919 722,262 724,789
CAPITAL ACCOUNTS
30 Capital paid in 8,575 8,657 8,719
31 Surplus 8,380 8,356 8,327
32 Other capital accounts 689 657 486
33 Total capital 17,644 17,670 17,532
MEMO
34 Marketable securities
held in custody for foreign
official and international
accounts (3,10) 931,570 945,930 936,251
35 U.S. Treasury 741,378 760,406 754,101
36 Federal agency 190,191 185,524 182,150
37 Securities lent to dealers 597 4,950 2,390
Federal Reserve notes and
collateral statement
38 Federal Reserve notes
outstanding 760,717 766,845 774,672
39 Less: Notes held by F.R.
Banks not subject to
collateralization 97,928 102,691 109,856
40 Federal Reserve notes
to be collateralized 662,789 664,155 664,816
41 Collateral held against
Federal Reserve notes 662,789 664,155 664,816
42 Gold certificate account 11,040 11,040 11,039
43 Special drawing rights
certificate account 2,200 2,200 2,200
44 U.S. Treasury and agency
securities pledged (11) 649,549 650,915 651,577
45 Other eligible assets 0 0 0
MEMO
46 Total U.S. Treasury and
agency securities (11) 681,367 683,878 681,913
47 Less: face value of
securities under reverse
repurchase agreements (12) 22,295 22,086 19,831
48 U.S. Treasury and agency
securities eligible to be
pledged 659,072 661,792 662,081
(1.) Some of the data in this table also appear in the Board's
H.4.1 (503) weekly statistical release. For ordering address,
see inside front cover.
(2.) Includes securities lent to dealers, which are fully
collateralized by other U.S Treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjusts for the inflation on the original
face value of inflation-indexed securities.
(5.) Cash value of agreements, which are fully collateralized by
U.S. Treasury and federal agency securities.
(6.) Valued daily at market exchanged rates.
(7.) Includes special investment account at the Federal Reserve
Bank of Chicago in Treasury bills maturing within ninety days.
(8.) Cash value of agreements, which are fully collateralized
by U.S. Treasury securities.
(9.) Includes exchange-translation account reflecting the daily
revaluation at market exchange rates foreign exchange commitments.
(10.) Includes U.S. Treasury STRIPS and other zero coupon bonds
at face value.
(11.) Includes face value of U.S. Treasury and agency securities
held outright, compensation to adjust for the effect of inflation
on the original face value of inflation-indexed securities.
(12.) Face value of agreements, which are fully collateralized
by U.S. Treasury securities.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of Loans
and Securities
Millions of dollars
Wednesday
2003
Type of holding and maturity
July 2 July 9 July 16 July 23
1 Total loans 92 104 121 118
2 Within 15 days 13 44 64 102
3 16 days to 90 days 79 60 57 16
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (1) 652,353 652,451 652,690 652,827
6 Within 15 days 41,102 40,668 46,121 46,160
7 16 days to 90 days 146,726 147,314 141,599 140,922
8 91 days to 1 year 158,535 158,485 158,993 159,773
9 Over 1 year to 5 years 179,355 179,353 179,352 179,350
10 Over 5 years to 10 years 46,661 46,659 46,657 46,656
11 Over 10 years 79,973 79,971 79,969 79,967
12 Total federal agency
securities 10 10 10 10
13 Within 15 days 0 0 0 0
14 16 days to 90 days 0 0 0 0
15 91 days to 1 year 10 10 10 10
16 Over 1 year to 5 years 0 0 0 0
17 Over 5 years to 10 years 0 0 0 0
18 Over 10 years 0 0 0 0
19 Total repurchase
agreements (2) 26,000 29,250 24,000 32,000
20 Within 15 days 21,000 24,250 19,000 29,000
21 16 days to 90 days 5,000 5,000 5,000 3,000
22 Total reverse repurchase
agreements (2) 21,045 20,254 20,346 19,672
23 Within 15 days 21,045 20,254 20,346 19,672
24 16 days to 90 days 0 0 0 0
Millions of dollars
End of month
2003
Type of holding and maturity July 30 May June July
1 Total loans 141 80 768 145
2 Within 15 days 116 66 752 99
3 16 days to 90 days 25 14 16 45
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities 652,856 651,117 652,118 652,903
6 Within 15 days 46,048 36,449 27,419 36,979
7 16 days to 90 days 141,180 153,457 153,840 134,047
8 91 days to 1 year 159,660 154,081 157,337 172,745
9 Over 1 year to 5 years 179,349 180,472 186,886 184,345
10 Over 5 years to 10 years 46,654 46,672 46,661 44,823
11 Over 10 years 79,965 79,987 79,974 79,965
12 Total federal agency
securities 10 10 10 10
13 Within 15 days 0 0 0 0
14 16 days to 90 days 0 0 0 0
15 91 days to 1 year 10 10 10 10
16 Over 1 year to 5 years 0 0 0 0
17 Over 5 years to 10 years 0 0 0 0
18 Over 10 years 0 0 0 0
19 Total repurchase
agreements 26,250 30,240 31,750 29,000
20 Within 15 days 24,250 22,240 23,750 24,000
21 16 days to 90 days 2,000 8,000 8,000 5,000
22 Total reverse repurchase
agreements 19,316 22,285 22,080 19,827
23 Within 15 days 19,316 22,285 22,080 19,827
24 16 days to 90 days 0 0 0 0
Note. Components may not sum to totals because of rounding.
(1.) Includes the original face value of inflation-indexed
securities and compensation that adjust for the effect of
inflation on the original face value of such securities.
(2.) Cash value of agreements classified by remaining maturity of
the agreements.
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTION AND
MONETARY BASE (1)
Billions of dollars, average of daily figures
Item 1999 2000 2001
Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 41.81 38.54 41.24
2 Nonborrowed reserves (4) 41.49 38.33 41.18
3 Required reserves 40.51 37.11 39.60
4 Monetary base (5) 593.16 584.77 635.62
Not seasonally adjusted
5 Total reserves (6) 41.89 38.53 41.20
6 Nonborrowed reserves 41.57 38.32 41.13
7 Required reserves (7) 40.59 37.10 39.55
8 Monetary base (8) 600.72 590.06 639.91
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.65 38.47 41.08
10 Nonborowed reserves 41.33 38.26 41.01
11 Required reserves 40.36 37.05 39.43
12 Monetary base (11) 608.02 596.98 648.74
13 Excess reserves (12) 1.30 1.43 1.65
14 Borrowings from the Federal .32 .21 .07
Reserve
Item 2002 2002 2003
Dec. Dec. Jan.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.22 40.22 40.73
2 Nonborrowed reserves (4) 40.14 40.14 40.70
3 Required reserves 38.21 38.21 39.02
4 Monetary base (5) 681.90 681.90 685.72
Not seasonally adjusted
5 Total reserves (6) 40.13 40.13 42.85
6 Nonborrowed reserves 40.05 40.05 42.83
7 Required reserves (7) 38.12 38.12 41.15
8 Monetary base (8) 686.23 686.23 688.33
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 40.27 40.27 42.87
10 Nonborrowed reserves 40.19 40.19 42.84
11 Required reserves 38.26 38.26 41.16
12 Monetary base (11) 697.15 697.15 699.25
13 Excess reserves (12) 2.01 2.01 1.71
14 Borrowings from the Federal .08 .08 .03
Reserve
Item 2003 2003 2003
Feb. Mar. Apr.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.82 40.97 40.81
2 Nonborrowed reserves (4) 40.80 40.95 40.78
3 Required reserves 38.86 39.34 39.27
4 Monetary base (5) 691.31 695.14 698.23
Not seasonally adjusted
5 Total reserves (6) 41.94 40.60 41.16
6 Nonborrowed reserves 41.91 40.57 41.14
7 Required reserves (7) 39.97 38.96 39.63
8 Monetary base (8) 690.25 693.83 697.83
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.94 40.60 41.17
10 Nonborowed reserves 41.91 40.58 41.14
11 Required reserves 39.97 38.96 39.64
12 Monetary base (11) 701.04 705.04 709.10
13 Excess reserves (12) 1.97 1.64 1.53
14 Borrowings from the Federal .03 .02 .03
Reserve
Item 2003 2003 2003
May June July
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.99 42.80 43.93
2 Nonborrowed reserves (4) 40.93 42.63 (r) 43.80
3 Required reserves 39.37 40.94 42.01
4 Monetary base (5) 701.18 703.17 (r) 703.53
Not seasonally adjusted
5 Total reserves (6) 41.79 41.86 43.58
6 Nonborrowed reserves 41.73 41.70 43.45
7 Required reserves (7) 40.17 40.00 41.66
8 Monetary base (8) 701.58 703.33 (r) 705.80
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.80 41.87 43.60
10 Nonborowed reserves 41.75 41.71 43.47
11 Required reserves 40.18 40.02 41.68
12 Monetary base (11) 712.76 714.36 (r) 717.01
13 Excess reserves (12) 1.62 1.85 (r) 1.92
14 Borrowings from the Federal .06 .16 .13
Reserve
(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 depositor institutions from the Federal Reserve
(line 17).
(5.) The seasonally adjusted, break-adjusted monetary base consist
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required
reserves) the seasonally adjusted, break-adjusted
difference between current vault cash and the amount applied to
satisfy current reserve requirements.
(6.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(7.) To adjust required reserves for discontinuities that are due
to regulatory changes in reserve requirements, a multiplicative
procedure is used to estimate what required reserves would have
been in past periods had current reserve requirements been in effect.
Break-adjusted required reserves include required reserves against
transactions deposits and nonpersonal time and savings deposits
(but not reservable nondeposit liabilities).
(8.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component
of the money stock, plus (3) (for all quarterly reporters on the
"Report of Transaction Accounts, Other Deposits and Vault Cash"
and for all those weekly reporters whose vault cash exceeds their
required reserves) the break-adjusted difference between current
vault cash and the amount applied to satisfy current reserve
requirements.
(9.) Reflects actual reserve requirements, including those on
nondeposit liabilities with no adjustments to eliminate the effects
of discontinuities associated with regulatory changes in reserve
requirements.
(10.) Reserve balances with Federal Reserve Banks plus vault cash
used to satisfy reserve requirements.
(11.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2)
required clearing balances and adjustments to compensate for float
at Federal Reserve Banks, plus (3) the currency component of the
money stock, plus (4) (for all, quarterly reporters on the "Report
of Transaction Accounts, Other Deposits and Vault
Cash" and for all those weekly reporters whose vault cash exceeds
their required reserves) the difference between current vault
cash and the amount applied to satisfy current reserve
requirements. Since February 1984, currency and vault cash figures
have been measured over the computation periods ending on Mondays.
(12.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK MEASURES (1)
Billions of dollars, averages of daily figures
Item 1999 2000 2001
Dec. Dec. Dec.
Seasonally
adjusted
Measures (2)
1 M1 1,121.4 1,084.7 1,172.9
2 M2 4,649.7 4,931.5 (r) 5,444.6 (r)
3 M3 6,534.9 7,099.4 (r) 8,004.5 (r)
M1 components
4 Currency (3) 517.7 531.5 581.9
5 Travelers checks (4) 8.3 8.0 7.8
6 Demand deposits (5) 352.1 306.9 326.1
7 Other checkable 243.4 238.2 257.2
deposits (6)
Nontransaction components
8 In M2 (7) 3,528.3 3,846.8 4,271.7
9 In M3 only (8) 1,885.1 2,167.9 2,559.9
Commercial banks
10 Savings deposits, 1,288.8 1,422.9 1,734.6
including MMDAs
11 Small time deposits
(9) 634.6 699.5 634.2
12 Large time deposits
(10,11) 652.2 718.3 671.1
Thrift institutions
13 Savings deposits, 452.0 454.3 572.4
including MMDAs
14 Small time deposits
(9) 319.5 344.8 339.1
15 Large time deposits
(10) 91.9 103.0 114.9
Money market mutual
funds
16 Retail 833.4 925.4 (r) 991.5 (r)
17 Institution-only 34.8 788.8 1,190.3
Repurchase agreements and
eurodollars
18 Repurchase agreements
(12) 335.7 363.5 375.0
19 Eurodollars (12) 0.5 194.3 208.6
Not seasonally adjusted
Measures (2)
20 M1 1,147.8 1,112.1 1,202.9
21 M2 4,676.8 4,966.9 (r) 5,487.6 (r)
22 M3 6,577.5 7,154.0 (r) 8,076.3 (r)
M1 components
23 Currency (3) 521.7 535.6 585.4
24 Travelers checks
(4) 8.4 8.1 7.9
25 Demand deposits (5) 371.7 326.7 348.1
26 Other checkable
deposits (6) 246.0 241.6 261.5
Nontransaction components
27 In M2 (7) 3,529.0 3,854.8 (r) 4,284.6 (r)
28 In M3 only (8) 1,900.7 2,187.1 2,588.7
Commercial banks
29 Savings deposits, 1,288.7 1,427.5 1,742.4
including MMDAs
30 Small time deposits
(9) 635.6 700.6 635.1
31 Large time deposits
(10,11) 653.6 718.5 670.0
Thrift institutions
32 Savings deposits 451.9 455.8 575.0
including MMDAs
33 Small time deposits
(9) 320.0 345.4 339.6
34 Large time deposits
(10) 92.1 103.0 114.7
Money market mutual funds
35 Retail 832.7 925.5 (r) 992.5 (r)
36 Institution-only 648.6 806.1 1,218.3
Repurchase agreements and
eurodollars
37 Repurchase agreements
(12) 334.7 364.2 376.5
38 Eurodollars (12) 171.7 195.2 209.1
2002
Dec.
Seasonally adjusted
Measures (2)
1 M1 1,210.4
2 M2 5,791.8 (r)
3 M3 8,522.7 (r)
M1 components
4 Currency (3) 627.3
5 Travelers checks (4) 7.5
6 Demand deposits (5) 297.1
7 Other checkable 278.5
deposits (6)
Nontransaction components
8 In M2 (7) 4,581.4
9 In M3 only (8) 2,730.9
Commercial banks
10 Savings deposits, 2,047.9
including MMDAs
11 Small time deposits
(9) 591.0 (r)
12 Large time deposits
(10,11) 676.6
Thrift institutions
13 Savings deposits, 714.5
including MMDAs
14 Small time deposits
(9) 302.2
15 Large time deposits
(10) 117.3
Money market mutual
funds
16 Retail 925.9 (r)
17 Institution-only 1,234.5
Repurchase agreements and
eurodollars
18 Repurchase agreements
(12) 474.6 (r)
19 Eurodollars (12) 227.9
Not seasonally adjusted
Measures (2)
20 M1 1,240.3
21 M2 5,841.1 (r)
22 M3 8,600.3 (r)
M1 components
23 Currency (3) 630.6
24 Travelers checks
(4) 7.7
25 Demand deposits (5) 317.5
26 Other checkable
deposits (6) 284.5
Nontransaction components
27 In M2 (7) 4,600.8
28 In M3 only (8) 2,759.2
Commercial banks
29 Savings deposits, 2,060.4
including MMDAs
30 Small time deposits
(9) 591.7
31 Large time deposits
(10,11) 675.0
Thrift institutions
32 Savings deposits 718.9 (r)
including MMDAs
33 Small time deposits
(9) 302.5
34 Large time deposits
(10) 17.0
Money market mutual funds
35 Retail 927.4 (r)
36 Institution-only 1,262.3
Repurchase agreements and
eurodollars
37 Repurchase agreements
(12) 476.4 (r)
38 Eurodollars (12) 228.5
Item 2003 2003 2003
Apr. May June
Seasonally adjusted
Measures (2)
1 M1 1,237.4 1,258.3 1,272.2
2 M2 5,908.5 5,996.2 6,043.6
3 M3 8,610.7 8,699.6 8,761.6
M1 components
4 Currency (3) 643.2 645.8 646.5
5 Travelers checks (4) 7.4 7.5 7.9
6 Demand deposits (5) 304.4 315.4 322.5
7 Other checkable
deposits (6) 282.4 289.6 295.3
Nontransaction components
8 In M2 (7) 4,671.2 4,737.9 4,771.4
9 In M3 only (8) 2,702.1 2,703.4 2,718.0
Commercial banks
10 Savings deposits,
including MMDAs 2,146.4 2,188.4 2,227.6
11 Small time deposits
(9) 576.5 571.6 566.4
12 Large time deposits
(10,11) 687.1 691.1 687.3
Thrift institutions
13 Savings deposits,
including MMDAs 767.4 793.3 802.0
14 Small time deposits
(9) 294.6 291.7 288.5
15 Large time deposits
(10) 117.9 116.9 118.0
Money market mutual funds
16 Retail 886.1 892.8 886.9
17 Institution-only 1,114.0 1,124.8 1,143.8
Repurchase agreements and
eurodollars
18 Repurchase
agreements (12) 509.3 517.5 520.2
19 Eurodollars (12) 243.9 253.0 248.6
Not seasonally adjusted
Measures(2)
20 M1 1,253.5 1,251.8 1,269.4
21 M2 5,975.2 5,961.6 6,012.6
22 M3 8,672.5 8,675.3 8,730.7
M1 Components
23 Currency(3) 643.3 646.5 647.7
24 Travelers checks(4) 7.5 7.5 7.7
25 Demand deposits(5) 308.2 308.0 318.8
26 Other checkable 294.5 289.7 295.2
deposits (6)
Nontransaction
components
27 In M2(7) 4,721.7 4,709.8 4,743.3
28 In M3 only(8) 2,697.3 2,713.7 2,718.1
Commercial banks
29 Savings deposits,
including MMDAs 2,171.0 2,177.5 2,217.5
30 Small time deposits (9) 575.5 571.0 565.8
31 Large time 685.6 696.9 691.9
deposits (10,11)
Thrift institutions
32 Savings deposits,
including MMDAS 776.2 789.4 798.3
33 Small time deposits(9) 294.1 291.3 288.1
34 Large time deposits(10) 117.6 117.9 118.8
Money market mutual
funds
35 Retail 904.9 880.6 873.5
36 Institution-only 1,141.1 1,118.9 1,131.0
Repurchase agreements
and eurodollars
37 Repurchase 505.4 525.0 529.5
agreements (12)
38 Eurodollars(12) 247.5 255.0 246.9
2003
July
Seasonally adjusted
Measures (2)
1 M1 1,277.8
2 M2 6,092.1
3 M3 8,922.2
M1 components
4 Currency (3) 646.2
5 Travelers checks (4) 8.2
6 Demand deposits (5) 322.5
7 Other checkable
deposits (6) 300.9
Nontransaction components
8 In M2 (7) 4,814.3
9 In M3 only (8) 2,830.2
Commercial banks
10 Savings deposits,
including MMDAs 2,279.8
11 Small time deposits
(9) 557.4
12 Large time deposits
(10,11) 775.5
Thrift institutions
13 Savings deposits,
including MMDAs 816.3
14 Small time deposits
(9) 285.0
15 Large time deposits
(10) 121.4
Money market mutual funds
16 Retail 875.8
17 Institution-only 1,183.9
Repurchase agreements and
eurodollars
18 Repurchase
agreements (12) 495.1
19 Eurodollars (12) 254.2
Not seasonally adjusted
Measures(2)
20 M1 1,274.2
21 M2 6,058.1
22 M3 8,863.8
M1 Components
23 Currency (3) 648.7
24 Travelers checks (4) 7.8
25 Demand deposits (5) 319.9
26 Other checkable
deposits (6) 297.8
Nontransaction
components
27 In M2 (7) 4,783.8
28 In M3 only (8) 2,805.7
Commercial banks
29 Savings deposits,
including MMDAs 2,263.9
30 Small time
deposits (9) 557.2
31 Large time
deposits (10,11) 775.4
Thrift institutions
32 Savings deposits,
including MMDAS 810.7
33 Small time
deposits (9) 284.9
34 Large time
deposits (10) 121.4
Money market mutual
funds
35 Retail 867.2
36 Institution-only 1,161.6
Repurchase agreements
and eurodollars
37 Repurchase
agreements (12) 496.6
38 Eurodollars (12) 250.7
(1.) Latest monthly and weekly figures are available from the
Board's H.6 (508) weekly statistical release. Historical data
starting in 1959 are available from the Money and Reserves
Projections Section, Division of Monetary Affairs, Board of Governors
of the Federal Reserve System, Washington, DC 20551.
(2.) Composition of the money stock measures is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks,
and the vaults of depository institutions, (2) travelers checks of
nonbank issuers, (3) demand deposits at all commercial banks other
than those owned 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. M2M1 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 funds. Seasonally
adjusted M2 is calculated by summing savings deposits,
small-denomination time deposits,
and retail money fund balances, each seasonally adjusted separately,
and adding this result to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2)
balances in institutional money funds (3) RP
liabilities (overnight and term) issued by all depository
institutions, and (4)
eurodollars (overnight and term) held by U.S. residents at
foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and
Canada Excludes amounts held by depository institutions, the U.S.
government, money market funds, and foreign banks and
official institutions. Seasonally adjusted M3 is
calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and
eurodollars, each seasonally adjusted
separately, and adding this result to seasonally
adjusted M2.
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers
checks of nonbank issuers.
Travelers checks issued by depository institutions are
included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions,
the U.S. government, and foreign banks and official institutions,
less cash items in the process of collection and Federal Reserve
float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union
share draft account balances, and demand deposits at thrift
institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small
time deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money
fund balances, (3) RP liabilities (overnight and term) issued
by depository institutions, and (4) eurodollars (overnight and
term) of U.S. addressees.
(9.) Small time deposits--including retail RPs--are those issued
in amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are
subtracted from small time deposits.
(10.) Large time deposits are those issued in amounts of $100,00
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
Account Monthly averages
2002 2003 2003
July Jan. Feb.
Seasonally adjusted
Assets
1 Bank credit 5,579.1 (r) 5,884.9 5,962.0
2 Securities in bank credit 1,591.8 1,710.3 1,753.9
3 U.S. government securities 917.5 1,030.4 1,059.2
4 Other securities 674.3 679.9 694.8
5 Loans and leases in bank credit (2) 3,987.3 (r) 4,174.6 4,208.1
6 Commercial and industrial 978.7 960.8 954.5
7 Real estate 1,871.6 (r) 2,046.0 2,079.2
8 Revolving home equity 192.3 217.6 222.7
9 Other 1,679.2 1,828.4 1,856.5
10 Consumer 564.0 591.8 591.7
11 Security (3) 178.0 174.8 181.3
12 Other loans and leases 395.1 (r) 401.2 401.3
13 Interbank loans 286.2 (r) 306.4 304.2
14 Cash assets (4) 311.4 313.7 318.3
15 Other assets (5) 487.8 (r) 511.9 535.9
16 Total assets (6) 6,589.6 (r) 6,940.1 7,043.8
Liabilities
17 Deposits 4,414.4 4,506.9 4,535.4
18 Transaction 612.9 608.0 613.7
19 Nontransaction 3,801.5 3,899.0 3,921.6
20 Large time 1,045.3 979.4 995.2
21 Other 2,756.2 2,919.6 2,926.4
22 Borrowings 1,228.5 (r) 1,336.8 1,368.4
23 From banks in the U.S. 384.3 380.8 388.1
24 From others 844.1 (r) 956.0 980.3
25 Net due to related foreign offices 93.0 154.8 144.2
26 Other liabilities 408.3 442.4 455.7
27 Total liabilities 6,144.3 (r) 6,440.9 6,503.7
28 Residual (assets less liabilities) 445.4 (r) 499.2 540.1
(7)
Not seasonally adjusted
Assets
29 Bank credit 5,556.4 (r) 5,901.9 5,965.3
30 Securities in bank credit 1,578.8 1,720.7 1,763.1
31 U.S. government securities 910.8 1,035.2 1,065.5
32 Other securities 668.0 685.5 697.6
33 Loans and leases in bank credit 3,977.6 (r) 4,181.2 4,202.3
(2)
34 Commercial and industrial 979.7 954.9 952.5
35 Real estate 1,870.1 (r) 2,046.4 2,075.0
36 Revolving home equity 192.3 217.0 223.0
37 Other 1,677.8 (r) 1,829.4 1,852.0
38 Consumer 558.5 599.5 594.9
39 Credit cards and related 215.0 234.0 225.8
plans
40 Other 343.5 365.5 369.1
41 Security (3) 173.2 181.0 183.0
42 Other loans and leases 396.1 (r) 399.4 396.9
43 Interbank loans 282.1 (r) 303.3 301.4
44 Cash assets (4) 301.4 329.7 318.8
45 Other assets (5) 486.2 (r) 515.6 533.4
46 Total assets (6) 6,551.2 6,973.7 7,042.0
Liabilities
47 Deposits 4,384.9 4,530.3 4,556.3
48 Transaction 604.7 622.0 606.1
49 Nontransaction 3,780.2 3,908.2 3,950.2
50 Large time 1,033.1 996.0 1,05.8
51 Other 2,747.1 2,912.3 2,944.3
52 Borrowings 1,222.6 (r) 1,349.9 1,370.6
53 From banks in the U.S. 381.3 385.4 391.6
54 From others 841.3 (r) 964.5 979.0
55 Net due to related foreign offices 84.2 (r) 158.9 149.6
56 Other liabilities 399.7 446.1 462.0
57 Total liabilities 6,091.4 (r) 6,485.1 6,538.4
58 Residual (assets less liabilities) 459.8 (r) 488.7 503.5
(7)
Account
2003 2003 2003
Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 5,992.6 6,024.2 6,126.2
2 Securities in bank credit 1,766.2 1,777.8 1,834.9
3 U.S. government securities 1,072.3 1,105.0 1,136.4
4 Other securities 693.9 672.8 698.5
5 Loans and leases in bank credit (2) 4,226.4 4,264.4 4,291.3
6 Commercial and industrial 948.8 947.2 937.6
7 Real estate 2,094.3 2,110.4 2,133.0
8 Revolving home equity 230.5 234.8 238.4
9 Other 1,863.8 1,875.6 1,894.6
10 Consumer 586.9 583.9 587.9
11 Security (3) 193.6 190.4 209.8
12 Other loans and leases 402.7 414.6 423.0
13 Interbank loans 313.0 304.8 317.6
14 Cash assets (4) 323.5 319.5 317.6
15 Other assets (5) 526.4 532.5 554.7
16 Total assets (6) 7,079.1 7,105.7 7,240.4
Liabilities
17 Deposits 4,585.7 4,613.5 4,646.6
18 Transaction 619.4 632.2 633.3
19 Nontransaction 3,966.3 3,981.4 4,013.2
20 Large time 1,001.6 985.4 999.1
21 Other 2,964.7 2,996.0 3,014.2
22 Borrowings 1,390.0 1,397.1 1,438.8
23 From banks in the U.S. 397.3 397.4 389.8
24 From others 992.7 999.7 1,049.0
25 Net due to related foreign offices 135.7 139.2 146.4
26 Other liabilities 450.5 457.0 481.5
27 Total liabilities 6,561.9 6,606.8 6,713.3
28 Residual (assets less liabilities) 517.3 49.9 527.1
(7)
Not seasonally adjusted
Assets
29 Bank credit 5,981.4 6,018.8 6,120.9
30 Securities in bank credit 1,771.2 1,775.6 1,832.6
31 U.S. government securities 1,077.3 1,104.8 1,134.3
32 Other securities 693.9 670.8 698.3
33 Loans and leases in bank credit (2) 4,210.2 4,243.2 4,288.2
34 Commercial and industrial 950.2 951.0 941.3
35 Real estate 2,085.3 2,106.8 2,136.9
36 Revolving home equity 228.4 234.5 239.6
37 Other 1,856.9 1,872.3 1,897.2
38 Consumer 584.6 581.0 586.7
39 Credit cards and related plans 219.6 215.3 220.5
40 Other 365.0 365.8 366.2
41 Security 189.2 189.6 202.0
42 Other loans and leases 400.9 414.8 421.4
43 Interbank loans 319.5 315.9 313.3
44 Cash assets (4) 312.7 317.7 314.0
45 Other assets (5) 525.5 531.9 552.6
46 Total assets (6) 7,062.5 7,109.1 7,224.8
Liabilities
47 Deposits 4,592.8 4,638.7 4,639.6
48 Transaction 611.0 638.0 623.1
49 Nontransaction 3,981.8 4,000.6 4,016.5
50 Large time 1,004.3 989.8 1,002.7
51 Other 2,977.5 3,010.8 3,013.7
52 Borrowings 1,386.4 1,401.3 1,444.6
53 From banks in the U.S. 400.7 401.5 392.2
54 From others 985.6 999.7 1,052.4
55 Net due to related foreign offices 133.9 130.1 146.0
56 Other liabilities 446.7 444.4 480.6
57 Total liabilities 6,559.8 6,614.5 6,710.8
58 Residual (assets less liabilities) 502.7 494.6 514.1
(7)
Account
2003 2003 2003
June July July 9
Seasonally adjusted
Assets
1 Bank credit 6,181.4 6,220.8 6,227.0
2 Securities in bank credit 1,856.9 1,810.6 1,837.2
3 U.S. government securities 1,152.6 1,115.7 1,132.6
4 Other securities 704.3 695.0 704.6
5 Loans and leases in bank credit (2) 4,324.5 4,410.2 4,389.8
6 Commercial and industrial 924.6 928.0 928.0
7 Real estate 2,155.6 2,193.5 2,194.6
8 Revolving home equity 244.8 248.9 248.4
9 Other 1,910.8 1,944.6 1,946.2
10 Consumer 592.5 592.4 588.6
11 Security (3) 211.2 213.7 200.8
12 Other loans and leases 440.6 482.6 477.8
13 Interbank loans 21.5 322.0 307.6
14 Cash assets (4) 331.4 337.0 330.6
15 Other assets (5) 563.8 571.3 570.2
16 Total assets (6) 7,322.4 7,375.7 7,360.2
Liabilities
17 Deposits 4,706.8 4,753.5 4,721.8
18 Transaction 637.9 653.8 606.1
19 Nontransaction 4,068.9 4,099.7 4,115.7
20 Large time 1,002.5 1,019.8 1,017.2
21 Other 3,066.4 3,079.9 3,098.4
22 Borrowings 1,478.8 1,514.8 1,505.2
23 From banks in the U.S. 408.0 410.1 411.2
24 From others 1,070.7 1,104.7 1,094.0
25 Net due to related foreign offices 126.4 142.7 150.9
26 Other liabilities 493.4 463.0 479.2
27 Total liabilities 6,805.3 6,874.0 6,857.1
28 Residual (assets less liabilities) 517.1 501.7 503.2
(7)
Not seasonally adjusted
Assets
29 Bank credit 6,177.9 6,196.1 6,207.8
30 Securities in bank credit 1,850.7 1,795.4 1,823.6
31 U.S. government securities 1,147.9 1,107.6 1,126.3
32 Other securities 702.9 687.8 697.3
33 Loans and leases in bank credit 4,327.2 4,400.7 4,384.2
(2)
34 Commercial and industrial 928.6 929.0 931.9
35 Real estate 2,156.9 2,191.9 2,194.3
36 Revolving home equity 245.7 248.9 248.5
37 Other 1,911.2 1,943.0 1,945.8
38 Consumer 589.1 586.9 582.1
39 Credit cards and related plans 221.4 217.9 214.0
40 Other 367.7 368.9 368.2
41 Security 209.8 207.6 191.7
42 Other loans and leases 442.7 485.2 484.2
43 Interbank loans 322.8 317.5 311.6
44 Cash assets (4) 322.2 326.3 325.4
45 Other assets (5) 558.0 569.2 571.0
46 Total assets (6) 7,304.9 7,333.7 7,340.7
Liabilities
47 Deposits 4,695.9 4,723.9 4,720.6
48 Transaction 632.5 645.2 606.3
49 Nontransaction 4,063.4 4,078.8 4,114.3
50 Large time 1,000.7 1,008.7 1,005.5
51 Other 3,062.8 3,070.0 3,108.9
52 Borrowings 1,477.8 1,507.8 1,501.4
53 From banks in the U.S. 406.2 406.7 409.1
54 From others 1,071.6 1,101.0 1,092.2
55 Net due to related foreign offices 123.5 133.5 137.9
56 Other liabilities 490.2 453.1 464.4
57 Total liabilities 6,787.4 6,818.3 6,824.4
58 Residual (assets less liabilities) 517.5 515.4 516.3
(7)
Account Wednesday figures
2003 2003 2003
July 16 July 23 July 30
Seasonally adjusted
Assets
1 Bank credit 6,194.4 6,222.8 6,233.0
2 Securities in bank credit 1,775.2 1,804.9 1,814.4
3 U.S. government securities 1,081.9 1,118.3 1,122.3
4 Other securities 693.3 686.6 692.0
5 Loans and leases in bank credit (2) 4,419.2 4,417.9 4,418.7
6 Commercial and industrial 929.1 929.5 925.9
7 Real estate 2,188.6 2,184.9 2,204.7
8 Revolving home equity 247.6 249.3 250.5
9 Other 1,941.0 1,935.6 1,954.2
10 Consumer 592.0 595.1 596.3
11 Security (3) 225.4 223.8 207.6
12 Other loans and leases 484.0 484.5 484.2
13 Interbank loans 325.5 322.3 333.5
14 Cash assets (4) 331.9 347.2 342.3
15 Other assets (5) 566.4 574.8 574.2
16 Total assets (6) 7,342.5 7,391.4 7,407.5
Liabilities
17 Deposits 4,754.1 4,752.5 4,779.5
18 Transaction 641.7 674.1 709.4
19 Nontransaction 4,112.4 4,078.4 4,070.1
20 Large time 1,013.3 1,014.9 1,031.1
21 Other 3,099.1 3,063.5 3,039.0
22 Borrowings 1,495.1 1,515.0 1,535.4
23 From banks in the U.S. 402.7 404.5 418.9
24 From others 1,092.5 1,110.5 1,116.5
25 Net due to related foreign offices 134.2 151.2 143.0
26 Other liabilities 455.2 449.8 463.3
27 Total liabilities 6,838.6 6,868.6 6,921.3
28 Residual (assets less liabilities) 503.9 522.9 486.2
(7)
Not seasonally adjusted
Assets
29 Bank credit 6,172.0 6,181.9 6,206.0
30 Securities in bank credit 1,758.7 1,785.6 1,800.7
31 U.S. government securities 1,072.9 1,107.3 1,115.2
32 Other securities 685.8 678.3 685.5
33 Loans and leases in bank credit (2) 4,413.2 4,396.3 4,405.3
34 Commercial and industrial 930.8 928.2 923.9
35 Real estate 2,188.6 2,180.2 2,201.9
36 Revolving home equity 247.8 248.9 250.5
37 Other 1,940.8 1,931.2 1,951.3
38 Consumer 586.4 589.3 591.2
39 Credit cards and related plans 217.6 219.6 221.7
40 Other 368.8 369.7 369.5
41 Security 20.3 216.1 203.9
42 Other loans and leases 487.1 482.5 484.5
43 Interbank loans 321.1 307.6 324.8
44 Cash assets (4) 322.6 322.9 331.4
45 Other assets (5) 565.6 568.8 570.2
46 Total assets (6) 7,305.7 7,305.7 7,357.0
Liabilities
47 Deposits 4,729.1 4,689.3 4,735.8
48 Transaction 633.5 646.8 700.4
49 Nontransaction 4,095.5 4,042.5 4,035.4
50 Large time 1,002.7 1,003.6 1,020.7
51 Other 3,092.8 3,038.9 3,014.7
52 Borrowings 1,490.9 1,507.5 1,522.6
53 From banks in the U.S. 399.9 399.8 414.6
54 From others 1,091.0 1,107.7 1,108.1
55 Net due to related foreign offices 123.5 142.4 137.4
56 Other liabilities 443.5 441.0 457.5
57 Total liabilities 6,786.9 6,780.2 6,853.4
58 Residual (assets less liabilities) 518.8 525.6 503.7
(7)
B. Domestically chartered commercial
banks
Account Monthly averages
2002 2003 2003
July Jan. Feb.
Seasonally adjusted
Assets
1 Bank credit 4,965.8 5,251.3 5,315.3
2 Securities in bank credit 1,352.9 1,441.8 1,474.8
3 U.S. government securities 841.2 921.0 942.7
4 Other securities 511.7 520.8 532.1
5 Loans and leases in bank credit 3,612.9 3,809.5 3,840.5
(2)
6 Commercial and industrial 787.8 783.6 780.3
7 Real estate 1,852.8 2,026.3 2,059.5
8 Revolving home equity 192.3 217.6 222.7
9 Other 1,660.4 1,808.7 1,836.8
10 Consumer 564.0 591.8 591.7
11 Security (3) 86.4 71.5 73.2
12 Other loans and leases 321.9 336.4 335.7
13 Interbank loans 269.1 278.3 277.2
14 Cash assets (4) 263.6 273.6 279.6
15 Other assets (5) 460.2 477.3 500.9
16 Total assets (6) 5,884.2 6,204.2 6,296.8
Liabilities
17 Deposits 3,913.7 4,080.4 4,092.5
18 Transaction 603.0 598.2 603.5
19 Nontransaction 3,310.6 3,482.2 3,489.0
20 Large time 557.7 577.6 583.5
21 Other 2,752.9 2,904.6 2,905.5
22 Borrowings 1,027.1 1,063.2 1,093.8
23 From banks in the U.S. 364.2 349.8 357.0
24 From others 662.9 713.3 736.7
25 Net due to related foreign offices 175.4 225.2 222.7
26 Other liabilities 316.9 346.6 355.8
27 Total liabilities 5,433.2 5,715.3 5,764.7
28 Residual (assets less liabilities) 451.0 488.8 532.0
(7)
Assets
29 Bank credit 4,949.4 5,260.6 5,314.2
30 Securities in bank credit 1,339.9 1,452.2 1,484.0
31 U.S. government securities 834.4 925.8 949.1
32 Other securities 505.4 526.4 534.9
33 Loans and leases in bank credit 3,609.5 3,808.4 3,830.3
(2)
34 Commercial and industrial 789.9 777.6 776.9
35 Real estate 1,851.3 2,026.7 2,055.3
36 Revolving home equity 192.3 217.0 223.0
37 Other 1,659.0 1,809.7 1,832.2
38 Consumer 558.5 599.5 594.9
39 Credit cards and related plans 215.0 234.0 225.8
40 Other 343.5 365.5 369.1
41 Security 85.3 70.7 72.0
42 Other loans and leases 324.4 333.9 331.2
43 Interbank loans 265.0 275.1 274.4
44 Cash assets (4) 256.1 286.6 279.1
45 Other assets (5) 459.6 479.8 497.7
46 Total assets (6) 5,855.6 6,225.9 6,288.9
Liabilities
47 Deposits 3,895.0 4,087.5 4,103.3
48 Transaction 594.9 612.0 595.8
49 Nontransaction 3,300.1 3,475.6 3,507.4
50 Large time 556.2 578.9 584.4
51 Other 2,743.9 2,896.7 2,923.0
52 Borrowings 1,021.2 1,076.3 1,096.0
53 From banks in the U.S. 361.2 354.4 360.5
54 From others 660.1 721.9 735.4
55 Net due to related foreign offices 170.5 226.7 226.8
56 Other liabilities 310.5 348.6 361.2
57 Total liabilities 5,397.3 5,739.1 5,787.3
58 Residual (assets less liabilities) 458.4 486.8 501.6
(7)
Account
2003 2003 2003
Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 5,329.0 5,369.6 5,457.9
2 Securities in bank credit 1,482.2 1,500.4 1,546.1
3 U.S. government securities 949.7 979.6 1,005.5
4 Other securities 532.6 520.8 540.6
5 Loans and leases in bank credit 3,846.7 3,869.3 3,911.8
(2)
6 Commercial and industrial 777.2 775.1 767.7
7 Real estate 2,074.5 2,091.4 2,113.9
8 Revolving home equity 230.5 234.8 238.4
9 Other 1,844.0 1,856.6 1,875.4
10 Consumer 586.9 583.9 587.9
11 Security (3) 72.2 72.4 91.3
12 Other loans and leases 336.0 346.5 351.2
13 Interbank loans 285.8 282.3 292.9
14 Cash assets (4) 279.7 269.4 265.5
15 Other assets (5) 495.3 497.5 513.1
16 Total assets (6) 6,313.8 6,344.0 6,454.2
Liabilities
17 Deposits 4,137.2 4,177.1 4,207.8
18 Transaction 607.9 620.8 622.3
19 Nontransaction 3,529.4 3,556.3 3,585.5
20 Large time 583.6 582.1 595.3
21 Other 2,945.8 2,974.2 2,990.2
22 Borrowings 1,096.7 1,098.4 1,131.7
23 From banks in the U.S. 363.6 369.9 358.2
24 From others 733.0 728.5 773.5
25 Net due to related foreign offices 219.5 212.1 224.3
26 Other liabilities 355.0 365.8 376.2
27 Total liabilities 5,808.5 5,853.4 5,940.0
28 Residual (assets less liabilities) 505.4 490.6 514.2
(7)
Assets
29 Bank credit 5,319.6 5,364.4 5,457.3
30 Securities in bank credit 1,487.3 1,498.2 1,543.8
31 U.S. government securities 954.7 979.5 1,003.5
32 Other securities 532.6 518.8 540.3
33 Loans and leases in bank credit (2) 3,832.3 3,866.1 3,913.5
34 Commercial and industrial 777.0 779.9 773.3
35 Real estate 2,065.5 2,087.8 2,117.7
36 Revolving home equity 228.4 234.5 239.6
37 Other 1,837.1 1,853.3 1,878.1
38 Consumer 584.6 581.0 586.7
39 Credit cards and related plans 219.6 215.3 220.5
40 Other 365.0 365.8 366.2
41 Security 71.9 71.3 85.8
42 Other loans and leases 333.3 346.2 350.1
43 Interbank loans 292.3 293.4 288.6
44 Cash assets (4) 270.1 269.8 263.5
45 Other assets (5) 493.6 497.0 510.9
46 Total assets (6) 6,299.4 6,349.8 6,444.9
Liabilities
47 Deposits 4,140.3 4,196.3 4,195.5
48 Transaction 599.8 627.3 612.6
49 Nontransaction 3,540.5 3,569.0 3,582.9
50 Large time 582.1 580.2 593.5
51 Other 2,958.4 2,988.7 2,989.4
52 Borrowings 1,093.0 1,102.6 1,137.4
53 From banks in the U.S. 367.0 374.0 360.5
54 From others 726.0 728.6 776.9
55 Net due to related foreign offices 215.4 203.5 223.5
56 Other liabilities 349.7 353.5 375.0
57 Total liabilities 5,798.5 5,855.9 5,931.4
58 Residual (assets less liabilities) 500.9 494.0 513.5
(7)
Account
2003 2003 2003
June July July 9
Seasonally adjusted
Assets
1 Bank credit 5,512.5 5,575.6 5,576.7
2 Securities in bank credit 1,569.0 1,544.2 1,567.1
3 U.S. government securities 1,023.4 996.3 1,012.3
4 Other securities 545.5 547.9 554.8
5 Loans and leases in bank credit (2) 3,943.6 4,031.4 4,009.6
6 Commercial and industrial 762.2 766.3 765.0
7 Real estate 2,136.4 2,175.4 2,175.5
8 Revolving home equity 244.8 248.9 248.4
9 Other 1,891.6 1,925.5 1,927.1
10 Consumer 592.5 592.4 588.6
11 Security (3) 90.0 95.6 83.3
12 Other loans and leases 362.4 402.7 397.2
13 Interbank loans 290.8 288.8 274.8
14 Cash assets (4) 275.3 281.0 273.6
15 Other assets (5) 518.6 527.4 530.2
16 Total assets (6) 6,521.9 6,597.7 6,580.5
Liabilities
17 Deposits 4,256.3 4,290.5 4261.0
18 Transaction 626.3 642.1 595.1
19 Nontransaction 3,630.0 3,648.4 3,666.0
20 Large time 589.9 585.6 585.4
21 Other 3,040.1 3,062.8 3,080.6
22 Borrowings 1,159.8 1,214.5 1,208.2
23 From banks in the U.S. 372.9 372.8 376.4
24 From others 787.0 841.7 831.8
25 Net due to related foreign offices 208.3 229.0 228.7
26 Other liabilities 383.4 359.0 376.1
27 Total liabilities 6,007.8 6,092.9 6,074.0
28 Residual (assets less liabilities) 514.1 504.8 506.5
(7)
Assets
29 Bank credit 5,512.5 5,558.2 5,567.5
30 Securities in bank credit 1,562.8 1,529.0 1,553.5
31 U.S. government securities 1,018.7 988.2 1,006.0
32 Other securities 544.1 540.8 547.5
33 Loans and leases in bank credit (2) 3,949.7 4,029.2 4,014.0
34 Commercial and industrial 766.7 768.3 769.8
35 Real estate 2,137.7 2,172.8 2,175.2
36 Revolving home equity 245.7 248.9 248.5
37 Other 1,892.0 1,923.9 1,926.7
38 Consumer 589.1 586.9 582.1
39 Credit cards and related plans 221.4 217.9 214.0
40 Other 367.7 368.9 368.2
41 Security 91.1 94.3 82.0
42 Other loans and leases 364.1 406.9 404.8
43 Interbank loans 292.0 284.2 278.7
44 Cash assets (4) 268.7 273.3 271.8
45 Other assets (5) 514.6 526.8 532.5
46 Total assets (6) 6,512.3 6,567.6 6,575.9
Liabilities
47 Deposits 4,247.2 4,270.8 4,271.5
48 Transaction 621.2 633.5 595.2
49 Nontransaction 3,626.0 3,637.3 3,676.4
50 Large time 589.5 584.0 584.9
51 Other 3,036.5 3,053.3 3,091.5
52 Borrowings 1,158.9 1,207.5 1,204.4
53 From banks in the U.S. 371.0 369.5 374.3
54 From others 787.8 838.0 830.1
55 Net due to related foreign offices 207.3 222.9 219.7
56 Other liabilities 381.8 351.6 364.5
57 Total liabilities 5,995.1 6,052.8 6,060.2
58 Residual (assets less liabilities) 517.3 514.8 515.7
(7)
Account Wednesday figures
2003 2003 2003
July 16 July 23 July 30
Seasonally adjusted
Assets
1 Bank credit 5,544.9 5,581.6 5,593.0
2 Securities in bank credit 1,507.8 1,539.5 1,552.2
3 U.S. government securities 961.8 998.2 1,004.7
4 Other securities 546.0 541.3 547.5
5 Loans and leases in bank credit (2) 4,037.1 4,042.1 4,040.8
6 Commercial and industrial 766.3 768.5 765.6
7 Real estate 2,169.5 2,165.8 2,185.5
8 Revolving home equity 247.6 249.3 250.5
9 Other 1,921.9 1,916.5 1,935.0
10 Consumer 592.0 595.1 596.3
11 Security (3) 104.9 107.5 89.5
12 Other loans and leases 404.4 405.2 403.9
13 Interbank loans 293.2 287.8 299.5
14 Cash assets (4) 274.9 291.4 288.0
15 Other assets (5) 523.7 530.7 525.7
16 Total assets (6) 6,561.5 6,616.5 6,631.1
Liabilities
17 Deposits 4,291.4 4,288.1 4,312.7
18 Transaction 629.8 662.9 697.0
19 Nontransaction 3,661.5 3,625.2 3,615.7
20 Large time 579.4 579.1 593.1
21 Other 3,082.1 3,046.1 3,022.6
22 Borrowings 1,190.4 1,220.8 1,234.6
23 From banks in the U.S. 361.7 370.3 380.3
24 From others 828.8 850.6 854.3
25 Net due to related foreign offices 218.2 236.5 239.1
26 Other liabilities 352.8 347.5 356.4
27 Total liabilities 6,052.9 6,093.0 6,142.8
28 Residual (assets less liabilities) 508.6 523.4 488.2
(7)
Assets
29 Bank credit 5,528.2 5,549.6 5,572.5
30 Securities in bank credit 1,491.3 1,520.2 1,538.5
31 U.S. government securities 952.8 987.2 997.5
32 Other securities 538.5 533.0 541.0
33 Loans and leases in bank credit (2) 4,036.9 4,029.4 4,034.1
34 Commercial and industrial 768.7 768.3 765.0
35 Real estate 2,169.5 2,161.1 2,182.7
36 Revolving home equity 247.8 248.9 250.5
37 Other 1,921.7 1,912.2 1,932.2
38 Consumer 586.4 589.3 591.2
39 Credit cards and related plans 217.6 219.6 221.7
40 Other 368.8 369.7 369.5
41 Security 103.5 105.1 88.8
42 Other loans and leases 408.8 405.6 406.4
43 Interbank loans 288.9 273.2 290.8
44 Cash assets (4) 268.8 270.4 279.5
45 Other assets (5) 524.0 526.5 523.0
46 Total assets (6) 6,534.8 6,544.7 6,590.9
Liabilities
47 Deposits 4,276.0 4,234.6 4,277.8
48 Transaction 621.8 635.8 688.1
49 Nontransaction 3,654.2 3,598.7 3,589.7
50 Large time 578.0 576.8 591.1
51 Other 3,076.2 3,021.9 2,998.7
52 Borrowings 1,186.2 1,213.3 1,221.8
53 From banks in the U.S. 358.9 356.6 376.0
54 From others 827.4 847.7 845.9
55 Net due to related foreign offices 210.8 230.8 235.7
56 Other liabilities 343.6 341.1 352.5
57 Total liabilities 6,016.6 6,019.7 6,087.8
58 Residual (assets less liabilities) 518.2 525.0 503.1
(7)
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2002 2003 2003
July (r) Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 2,692.2 2,862.8 2,909.2
2 Securities in bank credit 715.3 774.4 805.5
3 U.S. government securities 412.1 461.0 479.7
4 Trading account 42.9 41.2 54.5
5 Investment account 369.2 419.8 425.3
6 Other securities 303.1 313.3 325.7
7 Trading account 169.0 160.0 172.6
8 Investment account 134.1 153.3 153.1
9 State and local
government 28.3 29.4 29.6
10 Other 105.8 123.9 123.5
11 Loans and leases in bank
credit (2) 1,976.9 2,088.4 2,103.8
12 Commercial and industrial 500.6 488.1 483.1
13 Bankers acceptances .0 .0 .0
14 Other 500.6 488.1 483.1
15 Real estate 889.9 1,008.5 1,030.1
16 Revolving home equity 122.1 139.8 142.3
17 Other 767.9 868.6 887.8
18 Consumer 283.5 297.1 295.0
19 Security (3) 79.6 63.5 65.0
20 Federal funds sold to and
repurchase agreements
with broker-dealers 67.2 52.8 54.2
21 Other 12.4 10.6 10.7
22 State and local government 13.0 12.0 12.3
23 Agricultural 9.2 8.2 7.9
24 Federal funds sold to and
repurchase agreements
with others 14.5 24.4 24.4
25 All other loans 66.1 75.6 75.2
26 Lease-financing receivables 120.5 111.1 110.8
27 Interbank loans 176.6 166.0 161.9
28 Federal funds sold to and
repurchase agreements
with commercial banks 87.1 96.4 90.9
29 Other 89.4 69.6 71.0
30 Cash assets (4) 146.2 149.6 150.9
31 Other assets (5) 321.0 334.4 354.7
32 Total assets (6) 3,291.7 3,468.1 3,532.0
Liabilities
33 Deposits 1883.1 1985.8 1986.5
34 Transaction 299.2 288.4 290.5
35 Nontransaction 1,583.9 1,697.4 1,696.0
36 Large time 259.0 271.0 273.6
37 Other 1,324.9 1,426.4 1,422.4
38 Borrowings 689.5 655.9 683.0
39 From banks in the U.S. 245.3 193.9 196.5
40 From others 444.2 462.0 486.6
41 Net due to related foreign
offices 165.6 210.1 210.1
42 Other liabilities 254.2 275.7 279.7
43 Total liabilities 2,992.4 3,127.5 3,159.4
44 Residual (assets less
liabilities) (7) 299.3 340.7 372.5
Not seasonally adjusted
45 Bank credit 2,680.6 (r) 2,870.0 2,911.3
46 Securities in bank credit 703.9 783.0 813.8
47 U.S. government securities 407.0 464.1 485.2
48 Trading account 42.4 41.5 55.1
49 Investment account 364.6 422.5 430.1
50 Mortgage-backed
securities 289.3 325.1 331.3
51 Other 75.3 97.5 98.8
52 One year or less 18.6 21.3 22.9
53 One to five years 43.9 58.6 57.4
54 More than five years 12.7 17.5 18.6
55 Other securities 296.9 318.9 328.5
56 Trading account 165.5 162.9 174.1
57 Investment account 131.3 156.0 154.4
58 State and local
government 27.7 30.0 29.8
59 Other 103.6 126.1 124.6
60 Loans and leases in bank
credit (2) 1,976.7 (r) 2,087.1 2,097.6
61 Commercial and industrial 501.8 (r) 483.6 481.1
62 Bankers acceptances .0 .0 .0
63 Other 501.8 (r) 483.6 481.1
64 Real estate 890.0 (r) 1,007.4 1,025.8
65 Revolving home equity 122.4 139.0 142.6
66 Other 449.8 545.4 560.2
67 Commercial 317.7 (r) 323.0 323.0
68 Consumer 281.9 301.9 298.2
69 Credit cards and related
plans 110.6 115.3 109.8
70 Other 171.3 186.6 188.5
71 Security(3) 78.6 (r) 63.0 63.9
72 Federal funds sold to and
repurchase agreements
with broker-dealers 66.3 52.5 53.4
73 Other 12.2 10.6 10.6
74 State and local government 13.0 (r) 12.0 12.3
75 Agricultural 9.3 8.2 7.8
76 Federal funds sold to and
repurchase agreements
with others 14.5 (r) 24.4 24.4
77 All other loans 67.7 73.7 71.9
78 Lease-financing receivables 120.0 112.8 112.1
79 Interbank loans 176.7 (r) 169.2 160.1
80 Federal funds sold to and
repurchase agreement
with commercial banks 87.2 (r) 98.2 90.0
81 Other 89.5 (r) 71.0 70.1
82 Cash assets (4) 140.7 r) 158.4 150.9
83 Other assets (5) 320.4 336.9 351.6
84 Total assets (6) 3,274.2 (r) 3,490.0 3,528.7
Liabilities
85 Deposits 1,877.3 (r) 1,986.7 1,990.5
86 Transaction 293.5 (r) 297.2 286.2
87 Nontransaction 1,583.8 (r) 1,689.5 1,704.4
88 Large time 257.5 (r) 272.2 274.6
89 Other 1,326.3 (r) 1,417.3 1,429.8
90 Borrowings 683.6 (r) 669.0 685.2
91 From banks in the U.S. 242.3 (r) 198.4 200.0
92 From nonbanks in the U.S. 441.3 (r) 470.6 485.2
93 Net due to related foreign
offices 60.7 (r) 211.6 214.3
94 Other liabilities 247.7 277.7 285.2
95 Total liabilities 2,969.3 (r) 3,145.0 3,175.2
96 Residual (assets less
liabilities) (7) 304.9 (r) 345.0 353.5
Monthly averages
Account 2003 2003 2003
Mar. (r) April. May. (r)
(r)
Seasonally adjusted
Assets
1 Bank credit 2,906.9 2,926.9 3,001.9
2 Securities in bank credit 803.2 810.0 856.5
3 U.S. government securities 476.5 493.3 520.0
4 Trading account 41.8 40.7 43.6
5 Investment account 434.7 452.6 476.4
6 Other securities 326.6 316.8 336.6
7 Trading account 171.6 161.5 183.4
8 Investment account 155.0 155.3 153.2
9 State and local
government 30.1 30.9 31.3
10 Other 124.9 124.4 121.9
11 Loans and leases in bank
credit (2) 2,103.7 2,116.9 2,145.4
12 Commercial and industrial 479.2 476.9 468.8
13 Bankers acceptances .0 .0 .0
14 Other 479.2 476.9 468.8
15 Real estate 1,037.4 1,043.1 1,058.0
16 Revolving home equity 147.7 150.3 152.6
17 Other 889.7 892.9 905.4
18 Consumer 291.6 290.0 290.2
19 Security (3) 64.0 64.3 82.6
20 Federal funds sold to and
repurchase agreements
with broker-dealers 52.6 52.4 63.0
21 Other 11.4 11.8 19.5
22 State and local government 12.5 12.4 12.4
23 Agricultural 7.9 7.7 7.5
24 Federal funds sold to and
repurchase agreements
with others 24.0 25.2 27.0
25 All other loans 76.7 87.8 89.1
26 Lease-financing receivables 110.5 109.4 109.8
27 Interbank loans 171.4 170.7 170.8
28 Federal funds sold to and
repurchase agreements
with commercial banks 100.0 98.7 100.4
29 Other 71.5 72.0 70.3
30 Cash assets (4) 148.1 135.6 132.7
31 Other assets (5) 347.1 347.0 357.0
32 Total assets (6) 3,528.6 3,536.4 3,618.2
Liabilities
33 Deposits 2005.4 2,029.8 2,036.5
34 Transaction 290.7 295.9 297.0
35 Nontransaction 1,714.7 1,733.9 1,739.6
36 Large time 269.0 267.1 279.0
37 Other 1,445.7 1,466.8 1,460.5
38 Borrowings 689.4 687.2 712.4
39 From banks in the U.S. 204.9 209.1 200.5
40 From others 484.5 478.0 511.9
41 Net due to related foreign
offices 208.9 199.3 211.9
42 Other liabilities 275.1 284.8 292.7
43 Total liabilities 3,178.7 3,201.1 3,253.6
44 Residual (assets less
liabilities) (7) 349.9 335.3 364.7
Not seasonally adjusted
45 Bank credit 2,900.8 2,923.4 3,002.9
46 Securities in bank credit 805.5 806.4 855.1
47 U.S. government securities 478.8 491.7 518.8
48 Trading account 42.1 40.6 43.5
49 Investment account 436.7 451.1 475.2
50 Mortgage-backed 334.7 354.4 380.2
securities
51 Other 102.0 96.7 95.0
52 One year or less 24.4 24.6 23.2
53 One to five years 57.3 55.2 55.2
54 More than five years 20.3 16.9 16.7
55 Other securities 326.7 314.7 336.3
56 Trading account 171.7 160.5 183.2
57 Investment account 155.0 154.3 153.1
58 State and local
government 30.1 30.7 31.3
59 Other 124.9 123.6 121.8
60 Loans and leases in bank
credit (2) 2,095.3 2,117.0 2,147.8
61 Commercial and industrial 479.1 479.5 471.9
62 Bankers acceptances .0 .0 .0
63 Other 479.1 479.5 471.9
64 Real estate 1,030.6 1,041.3 1,062.3
65 Revolving home equity 146.1 150.2 153.8
66 Other 561.1 569.7 588.2
67 Commercial 323.4 321.3 320.3
68 Consumer 292.1 290.6 291.1
69 Credit cards and 105.9 103.5 103.8
related plans
70 Other 186.2 187.1 187.3
71 Security (3) 63.5 62.9 77.3
72 Federal funds sold to and
repurchase agreements
with broker-dealers 52.2 51.3 59.0
73 Other 11.3 11.6 18.3
74 State and local government 12.5 12.4 12.4
75 Agricultural 7.8 7.7 7.6
76 Federal funds sold to and
repurchase agreements
with others 24.0 25.2 27.0
77 All other loans 74.5 87.6 88.5
78 Lease-financing receivables 111.2 109.8 109.8
79 Interbank loans 171.5 174.1 171.5
80 Federal funds sold to and
repurchase agreement
with commercial banks 100.0 100.6 100.9
81 Other 71.4 73.5 70.7
82 Cash assets (4) 143.2 138.4 131.8
83 Other assets (5) 345.5 346.6 354.8
84 Total assets (6) 3,515.7 3,538.5 3,616.6
Liabilities
85 Deposits 2,003.4 2,037.2 2,032.2
86 Transaction 286.3 302.0 292.7
87 Nontransaction 1,717.2 1,735.2 1,739.5
88 Large time 267.6 265.3 277.2
89 Other 1,449.6 1,469.9 1,462.3
90 Borrowings 685.8 691.3 718.2
91 From banks in the U.S. 208.3 213.2 202.9
92 From nonbanks in the U.S. 477.5 478.1 515.3
93 Net due to related foreign
offices 204.8 190.6 211.0
94 Other liabilities 269.8 272.6 291.6
95 Total liabilities 3,163.8 3,191.8 3,253.0
96 Residual (assets less 351.9 346.7 363.6
liabilities) (7)
Monthly averages Wednesday
figures
Account 2003 2003 2003
June (r) July July 9
Seasonally adjusted
Assets
1 Bank credit 3,037.0 3,073.6 3,087.2
2 Securities in bank credit 880.5 847.4 874.2
3 U.S. government securities 536.0 502.9 522.4
4 Trading account 38.7 37.6 38.8
5 Investment account 497.3 465.3 483.5
6 Other securities 344.5 344.4 351.8
7 Trading account 188.0 173.2 182.0
8 Investment account 156.5 171.2 169.8
9 State and local
government 32.2 32.3 32.6
10 Other 124.3 138.9 137.2
11 Loans and leases in bank
credit(2) 2,156.4 2,226.2 2,213.0
12 Commercial and industrial 462.0 464.2 464.7
13 Bankers acceptances .0 .0 n.a.
14 Other 462.0 464.2 464.7
15 Real estate 1,065.7 1,089.8 1,094.0
16 Revolving home equity 156.1 159.7 158.4
17 Other 909.6 930.1 935.6
18 Consumer 291.9 289.3 288.3
19 Security (3) 80.9 86.6 74.3
20 Federal funds sold to and
repurchase agreements
with broker-dealers 63.5 68.7 55.8
21 Other 17.4 17.9 18.5
22 State and local government 12.7 13.0 13.0
23 Agricultural 7.4 7.3 7.3
24 Federal funds sold to and
repurchase agreements
with others 28.4 25.8 25.2
25 All other loans 96.8 140.2 136.2
26 Lease-financing receivables 110.7 109.9 110.1
27 Interbank loans 165.0 168.8 157.2
28 Federal funds sold to and
repurchase agreements with
commercial banks 97.4 97.4 88.0
29 Other 67.7 71.4 69.2
30 Cash assets (4) 141.4 144.1 142.1
31 Other assets (5) 360.2 364.8 364.0
32 Total assets (6) 3,659.5 3,707.7 3,707.1
Liabilities
33 Deposits 2,065.7 2,083.4 2,065.2
34 Transaction 299.8 306.8 280.7
35 Nontransaction 1765.9 1776.6 1784.6
36 Large time 271.1 268.9 267.2
37 Other 1494.8 1507.7 1517.3
38 Borrowings 736.0 782.8 783.4
39 From banks in the U.S. 213.5 210.8 219.9
40 From others 522.5 572.0 563.5
41 Net due to related foreign
office 196.3 217.2 215.2
42 Other liabilities 298.8 272.2 290.1
43 Total liabilities 3,296.8 3,355.6 3,353.9
44 Residual (assets less
liabilities) (7) 362.7 352.2 353.2
Not seasonally adjusted
45 Bank credit 3,039.2 3,061.3 3,081.1
46 Securities in bank credit 874.8 834.0 861.5
47 U.S. government securities 531.7 496.7 517.1
48 Trading account 38.4 37.2 38.4
49 Investment account 493.3 459.5 478.6
50 Mortgage-backed
securities 389.4 364.1 380.6
51 Other 103.9 95.4 98.0
52 One year or less 24.3 24.1 24.5
53 One to five years 57.3 51.2 51.4
54 More than five years 22.3 20.1 22.0
55 Other securities 343.1 337.3 344.5
56 Trading account 187.3 169.6 178.2
57 Investment account 155.8 167.7 166.3
58 State and local
government 32.1 31.6 31.9
59 Other 123.8 136.1 1 34.4
60 Loans and leases in bank
credit (2) 2,164.4 2,227.3 2,219.6
61 Commercial and industrial 464.3 465.4 467.3
62 Bankers acceptances .0 .0 n.a.
63 Other 464.3 465.4 46 7.3
64 Real estate 1,068.1 1,089.9 1,095.7
65 Revolving home equity 157.0 160.2 158.9
66 Other 591.5 613.1 621.0
67 Commercial 319.6 316.6 315.9
68 Consumer 292.0 287.4 286.5
69 Credit cards and related
plans 104.8 99.9 99.3
70 Other 187.2 187.5 187.2
71 Security (3) 82.1 85.4 72.8
72 Federal funds sold to and
repurchase agreements
with broker-dealers 64.5 67.7 54.7
73 Other 17.6 17.6 18.1
74 State and local government 12.7 13.0 13.0
75 Agricultural 7.5 7.4 7.4
76 Federal funds sold to and
repurchase agreements
with others 28.4 25.8 25.2
77 All other loans 98.9 143.6 142.0
78 Lease-financing receivables 110.3 109.4 109.8
79 Interbank loans 169.3 168.9 158.8
80 Federal funds sold to and
repurchase agreement
with commercial banks 99.9 97.4 88.9
81 Other 69.4 71.4 69.9
82 Cash assets (4) 137.0 138.7 138.4
83 Other assets (5) 356.2 364.2 366.4
84 Total assets (6) 3,657.4 3,689.5 3,701.3
Liabilities
85 Deposits 2,066.1 2,077.4 2,075.3
86 Transaction 297.0 300.9 278.4
87 Nontransaction 1,769.1 1,776.5 1,796.9
88 Large time 270.6 267.3 266.7
89 Other 1,498.5 1,509.3 1,530.1
90 Borrowings 735.0 775.8 779.6
91 From banks in the U.S. 211.6 207.4 217.9
92 From nonbanks in the U.S. 523.4 568.4 561.7
93 Net due to related foreign
offices 195.2 211.1 206.2
94 Other liabilities 297.2 264.8 278.5
95 Total liabilities 3,293.6 3,329.1 3,339.6
96 Residual (assets less 363.8 360.5 361.7
liabilities) (7)
Wednesday figures
Account 2003 2003 2003
July 16 July 23 July 30
Assets
1 Bank credit 3,048.3 3,067.1 3,078.7
2 Securities in bank credit 813.5 835.9 853.2
3 U.S. government securities 472.3 499.4 507.8
4 Trading account 33.4 36.4 41.8
5 Investment account 438.9 463.0 466.0
6 Other securities 341.2 336.5 345.4
7 Trading account 170.7 164.2 172.7
8 Investment account 170.5 172.3 172.7
9 State and local
government 32.4 32.4 31.9
10 Other 138.1 139.9 140.8
11 Loans and leases in bank
credit (2) 2,234.8 2,231.2 2,225.4
12 Commercial and industrial 464.8 465.4 461.8
13 Bankers acceptances n.a. n.a. n.a.
14 Other 464.8 465.4 461.8
15 Real estate 1,087.0 1,078.1 1,097.1
16 Revolving home equity 159.3 160.2 161.4
17 Other 927.7 917.9 935.7
18 Consumer 289.7 290.7 289.4
19 Security (3) 95.7 98.7 80.4
20 Federal funds sold to and
repurchase agreements
with broker-dealers 78.3 80.4 62.8
21 Other 17.4 18.3 17.6
22 State and local government 12.8 12.9 13.5
23 Agricultural 7.3 7.3 7.3
24 Federal funds sold to and
repurchase agreements
with others 26.7 25.5 24.4
25 All other loans 140.7 143.0 141.9
26 Lease-financing receivables 110.0 109.6 109.8
27 Interbank loans 169.0 169.0 179.3
28 Federal funds sold to and
repurchase agreements
with commercial banks 99.1 96.9 104.4
29 Other 69.9 72.2 74.8
30 Cash assets (4) 136.8 151.8 148.2
31 Other assets (5) 363.7 369.9 365.0
32 Total assets (6) 3,674.0 3,714.2 3,727.8
Liabilities
33 Deposits 2,082.6 2,080.0 2,096.4
34 Transaction 300.8 318.2 337.3
35 Nontransaction 1,781.7 1,761.8 1,759.1
36 Large time 262.3 262.9 278.0
37 Other 1,519.5 1,498.9 1,481.2
38 Borrowings 765.9 786.1 790.5
39 From banks in the U.S. 205.7 207.6 207.5
40 From others 560.3 578.5 583.0
41 Net due to related foreign
offices 207.1 225.9 227.2
42 Other liabilities 265.8 259.2 269.9
43 Total liabilities 3,321.3 3,351.1 3,384.0
44 Residual (assets less
liabilities) (7) 352.7 363.1 343.8
Not seasonally adjusted
45 Bank credit 3,035.9 3,044.7 3,064.8
46 Securities in bank credit 798.9 819.2 842.0
47 U.S. government securities 465.2 491.0 503.2
48 Trading account 32.9 35.8 41.4
49 Investment account 432.3 455.2 461.8
50 Mortgage-backed
securities 338.0 360.9 369.6
51 Other 94.3 94.3 92.2
52 One year or less 23.8 24.3 23.4
53 One to five years 50.3 51.2 50.5
54 More than five years 20.2 18.8 18.3
55 Other securities 333.7 328.2 338.9
56 Trading account 167.0 160.2 169.4
57 Investment account 166.7 168.0 169.4
58 State and local
government 31.7 31.6 31.3
59 Other 135.0 136.4 138.1
60 Loans and leases in bank
credit (2) 2,237.1 2,225.5 2,222.8
61 Commercial and industrial 465.9 465.5 461.7
62 Bankers acceptances n.a. n.a. n.a.
63 Other 465.9 465.5 461.7
64 Real estate 1,088.3 1,076.5 1,095.6
65 Revolving home equity 159.8 160.6 161.9
66 Other 611.9 599.2 617.0
67 Commercial 316.6 316.6 316.8
68 Consumer 287.7 288.7 287.3
69 Credit cards and related
plans 100.0 100.6 100.0
70 Other 187.7 188.1 187.3
71 Security (3) 94.5 96.6 80.0
72 Federal funds sold to and
repurchase agreements
with broker-dealers 77.3 78.7 62.4
73 Other 17.2 17.9 17.5
74 State and local government 12.8 12.9 13.5
75 Agricultural 7.4 7.4 7.4
76 Federal funds sold to and
repurchase agreements
with others 26.7 25.5 24.4
77 All other loans 144.1 143.6 143.8
78 Lease-financing receivables 109.6 108.9 109.2
79 Interbank loans 170.0 164.6 178.4
80 Federal funds sold to and
repurchase agreements
with commercial banks 99.6 94.3 103.9
81 Other 70.3 70.3 74.5
82 Cash assets (4) 134.1 138.8 142.2
83 Other assets (5) 364.0 365.7 362.3
84 Total assets (6) 3,660.4 3,670.4 3,704.6
Liabilities
85 Deposits 2,080.6 2,053.7 2,082.5
86 Transaction 296.2 300.8 331.8
87 Nontransaction 1,784.4 1,752.9 1,750.7
88 Large time 260.8 260.7 275.9
89 Other 1,523.6 1,492.2 1,474.8
90 Borrowings 761.6 778.6 777.7
91 From banks in the U.S. 202.9 202.9 203.2
92 From nonbanks in the U.S. 558.8 575.7 574.6
93 Net due to related foreign
offices 199.7 220.1 223.8
94 Other liabilities 256.6 252.7 266.0
95 Total liabilities 3,298.6 3,305.0 3,350.0
96 Residual (assets less 361.9 365.3 354.6
liabilities) (7)
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2002 2003 2003
July (r) Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 2,273.6 2,388.6 2,406.0
2 Securities in bank credit 637.6 667.4 669.4
3 U.S. government
securities 429.0 460.0 463.0
4 Other securities 208.6 207.5 206.4
5 Loans and leases in bank
credit (2) 1,636.0 1,721.1 1,736.7
6 Commercial and
industrial 287.2 295.5 297.3
7 Real estate 962.8 1,017.8 1,029.4
8 Revolving home equity 70.3 77.7 80.4
9 Other 892.5 940.1 949.0
10 Consumer 280.5 294.8 296.7
11 Security (3) 6.8 8.0 8.2
12 Other loans and leases 98.7 105.1 105.1
13 Interbank loans 92.6 112.3 115.3
14 Cash assets (4) 117.4 124.0 128.7
15 Other assets (5) 139.2 142.9 146.1
16 Total assets (6) 2,592.5 2,736.0 2,764.8
Liabilities
17 Deposits 2,030.6 2,094.6 2,106.0
18 Transaction 303.8 309.8 313.0
19 Nontransaction 1,726.8 1,784.8 1,793.0
20 Large time 298.7 306.6 309.9
21 Other 1,428.0 1,478.2 1,483.1
22 Borrowings 337.6 407.3 410.7
23 From banks in the U.S. 118.9 156.0 160.5
24 From others 218.7 251.3 250.2
25 Net due to related foreign
offices 9.8 15.1 12.6
26 Other liabilities 62.8 71.0 76.1
27 Total liabilities 2,440.8 2,587.9 2,605.3
28 Residual (assets less
liabilities (7) 151.7 148.2 159.5
Assets Not seasonally adjusted
29 Bank credit 2,268.8 2,390.6 2,402.9
30 Securities in bank credit 636.0 669.2 670.2
31 U.S government 427.4 461.7 463.8
securities
32 Other securities 208.6 207.5 206.4
33 Loans and leases in bank
credit (2) 1,632.8 1,721.3 1,732.7
34 Commercial and industrial 288.1 294.1 295.9
35 Real estate 961.3 1,019.3 1,029.5
36 Revolving home equity 69.9 78.0 80.5
37 Other 891.4 941.3 949.0
38 Consumer 276.6 297.7 296.7
39 Credit cards and
related plans 104.4 118.7 116.1
40 Other 172.2 178.9 180.6
41 Security (3) 6.7 7.6 8.1
42 Other loans and leases 100.0 102.7 102.6
43 Interbank loans 88.3 106.0 114.3
44 Cash assets (4) 115.4 128.2 128.3
45 Other assets (5) 139.2 142.9 146.1
46 Total assets (6) 2,581.4 2,735.8 2,760.2
Liabilities
47 Deposits 2,017.8 2,100.8 2,112.7
48 Transaction 301.4 314.7 309.7
49 Nontransaction 1,716.3 1,786.1 1,803.1
50 Large time 298.7 306.6 309.9
51 Other 1,417.6 1,479.4 1,493.2
52 Borrowings 337.6 407.3 410.7
53 From banks in the U.S. 118.9 156.0 160.5
54 From others 218.7 251.3 250.2
55 Net due to related foreign
offices 9.8 15.1 12.6
56 Other liabilities 62.8 71.0 76.1
57 Total liabilities 2,427.9 2,594.1 2,612.1
58 Residual (assets less
liabilities) (7) 153.5 141.7 148.2
2003
Mar. (r) Apr. (r) May (r)
Assets
1 Bank credit 2,422.1 2,442.7 2,456.0
2 Securities in bank
credit 679.1 690.3 689.5
3 U.S. government
securities 473.2 486.3 485.5
4 Other securities 205.9 204.0 204.0
5 Loans and leases in bank
credit (2) 1,743.0 1,752.4 1,766.5
6 Commercial and
industrial 298.0 298.2 298.8
7 Real estate 1,037.1 1,048.3 1,055.9
8 Revolving home
equity 82.8 84.5 85.8
9 Other 954.3 963.8 970.1
10 Consumer 295.3 293.8 297.7
11 Security (3) 8.1 8.1 8.7
12 Other loans and lease 104.5 104.0 105.4
13 Interbank loans 114.4 111.6 122.1
14 Cash assets (4) 131.6 133.7 132.7
15 Other assets (5) 148.2 150.4 156.1
16 Total assets (6) 2,785.2 2,807.6 2,835.9
Liabilities
17 Deposits 2,131.9 2,147.4 2,171.3
18 Transaction 317.2 325.0 325.4
19 Nontransaction 1,814.7 1,822.4 1,846.0
20 Large time 314.5 315.0 316.3
21 Other 1,500.1 1,507.4 1,529.7
22 Borrowings 407.2 411.3 419.3
23 From banks in the U.S. 158.8 160.8 157.7
24 From others 248.5 250.5 261.6
25 Net due to related foreign
offices 10.7 12.8 12.4
26 Other liabilities 80.0 80.9 83.4
27 Total liabilities 2,629.7 2,652.4 2,686.4
28 Residual (assets less
liabilities (7) 155.5 155.2 149.5
Assets Not seasonally adjusted
29 Bank credit 2,418.8 2,440.9 2,454.4
30 Securities in bank
credit 681.8 691.8 688.7
31 U.S. government
securities 475.9 487.8 484.7
32 Other securities 205.9 204.0 204.0
33 Loans and leases in bank
credit (2) 1,737.0 1,749.1 1,765.7
34 Commercial and
industrial 297.9 300.4 301.4
35 Real estate 1,034.9 1,046.5 1,055.4
36 Revolving home
equity 82.4 84.3 85.9
37 Other 952.6 962.2 969.5
38 Consumer 292.5 290.4 295.6
39 Credit cards and
related plans 113.8 111.7 116.6
40 Other 178.7 178.7 178.9
41 Security (3) 8.4 8.4 8.5
42 Other loans and leases 103.3 103.5 104.8
43 Interbank loans 120.8 119.3 117.1
44 Cash assets (4) 126.9 131.4 131.7
45 Other assets (5) 148.2 150.4 156.1
46 Total assets (6) 2,783.7 2,811.3 2,828.2
Liabilities
47 Deposits 2,136.9 2,159.1 2,163.3
48 Transaction 313.6 325.3 319.9
49 Nontransaction 1,823.3 1,833.8 1,843.4
50 Large time 314.5 315.0 316.3
51 Other 1,508.8 1,518.8 1,527.1
52 Borrowings 407.2 411.3 419.3
53 From banks in the U.S. 158.8 160.8 157.7
54 From others 248.5 250.5 261.6
55 Net due to related foreign
offices 10.7 12.8 12.4
56 Other liabilities 80.0 80.9 83.4
57 Total liabilities 2,634.7 2,664.1 2,678.4
58 Residual (assets less
liabilities) (7) 149.0 147.2 149.9
2003
2003
June (r) July July 9
Assets
1 Bank credit 2,475.6 2,502.0 2,489.6
2 Securities in bank
credit 688.4 696.8 692.9
3 U.S. government
securities 487.4 493.3 489.9
4 Other securities 201.0 203.5 203.0
5 Loans and leases in bank
credit (2) 1,787.1 1,805.2 1,796.6
6 Commercial and
industrial 300.2 302.0 300.3
7 Real estate 1,070.8 1,084.5 1,081.4
8 Revolving home
equity 88.8 89.1 89.9
9 Other 982.0 995.4 991.5
10 Consumer 300.6 303.1 300.3
11 Security (3) 9.2 9.0 9.0
12 Other loans and
leases 106.4 106.5 105.6
13 Interbank loans 125.7 120.0 117.6
14 Cash assets (4) 133.9 136.8 131.5
15 Other assets (5) 158.4 162.6 166.1
16 Total assets (6) 2,862.4 2,890.0 2,873.4
Liabilities
17 Deposits 2,190.6 2,207.0 2,195.8
18 Transaction 326.5 335.3 314.4
19 Nontransaction 1,864.1 1,871.8 1,881.4
20 Large time 318.8 316.7 318.1
21 Other 1,545.3 1,555.1 1,563.3
22 Borrowings 423.8 431.7 424.8
23 From banks in the U.S. 159.4 162.1 156.5
24 From others 264.4 269.6 268.4
25 Net due to related foreign
offices 12.0 11.8 13.5
26 Other liabilities 84.6 86.8 86.0
27 Total liabilities 2,711.0 2,737.3 2,720.1
28 Residual (assets less
liabilities (7) 151.4 152.6 153.3
Assets Not seasonally adjusted
29 Bank credit 2,473.3 2,496.9 2,486.4
30 Securities in bank
credit 688.0 695.0 692.0
31 U.S. government
securities 487.0 491.5 489.0
32 Other securities 201.0 203.5 203.0
33 Loans and leases in bank
credit (2) 1,785.3 1,801.9 1,794.4
34 Commercial and
industrial 302.4 302.9 302.6
35 Real estate 1,069.6 1,082.9 1,079.4
36 Revolving home
equity 88.7 88.7 89.6
37 Other 980.9 994.2 989.8
38 Consumer 297.1 299.5 295.6
39 Credit cards and
related plans 116.6 118.0 114.6
40 Other 180.5 181.5 181.0
41 Security (3) 9.1 8.9 9.3
42 Other loans and leases 107.0 107.8 107.5
43 Interbank loans 122.7 115.4 120.0
44 Cash assets (4) 131.7 134.6 133.4
45 Other assets (5) 158.4 162.6 166.1
46 Total assets (6) 2,854.9 2,878.0 2,874.5
Liabilities
47 Deposits 2,181.1 2,193.4 2,196.3
48 Transaction 324.2 332.6 316.8
49 Nontransaction 1,856.8 1,860.8 1,879.5
50 Large time 318.8 316.7 318.1
51 Other 1,538.0 1,544.0 1,561.4
52 Borrowings 423.8 431.7 424.8
53 From banks in the U.S. 159.4 162.1 156.5
54 From others 264.4 269.6 268.4
55 Net due to related foreign
offices 12.0 11.8 13.5
56 Other liabilities 84.6 86.8 86.0
57 Total liabilities 2,701.5 2,723.7 2,720.6
58 Residual (assets less
liabilities) (7) 153.4 154.3 154.0
Wednesday figures
2003
July 16 July 23 July 30
Assets
1 Bank credit 2,496.6 2,514.5 2,514.3
2 Securities in bank
credit 694.3 703.7 699.0
3 U.S. government
securities 489.5 498.9 496.9
4 Other securities 204.8 204.8 202.1
5 Loans and leases in bank
credit (2) 1,802.3 1,810.9 1,815.4
6 Commercial and
industrial 301.6 303.1 303.8
7 Real estate 1,082.5 1,087.7 1,088.5
8 Revolving home equity 88.3 89.1 89.1
9 Other 994.1 998.6 999.3
10 Consumer 302.3 304.4 307.0
11 Security (3) 9.1 8.8 9.1
12 Other loans and
leases 106.9 106.9 107.1
13 Interbank loans 124.2 118.8 120.2
14 Cash assets (4) 138.1 139.6 139.8
15 Other assets (5) 160.0 160.8 160.7
16 Total assets (6) 2,887.5 2,902.2 2,903.2
Liabilities
17 Deposits 2,208.8 2,208.1 2,216.3
18 Transaction 329.0 344.7 359.7
19 Nontransaction 1,879.8 1,863.4 1,856.6
20 Large time 317.1 316.1 315.2
21 Other 1,562.7 1,547.3 1,541.4
22 Borrowings 424.6 434.8 444.1
23 From banks in the U.S. 156.0 162.7 172.8
24 From others 268.6 272.1 271.3
25 Net due to related foreign
offices 11.1 10.7 11.9
26 Other liabilities 87.0 88.4 86.5
27 Total liabilities 2,731.5 2741.9 2,758.8
28 Residual (assets less
liabilities (7) 155.9 160.3 144.4
Assets Not seasonally adjusted
29 Bank credit 2,492.3 2,504.9 2,507.7
30 Securities in bank
credit 692.4 701.0 696.4
31 U.S. government
securities 487.6 496.3 494.3
32 Other securities 204.8 204.8 202.1
33 Loans and leases in bank
credit (2) 1,799.8 1,803.9 1,811.3
34 Commercial and
industrial 302.8 302.9 303.3
35 Real estate 1,081.2 1,084.7 1,087.1
36 Revolving home
equity 88.0 88.3 88.7
37 Other 993.2 996.3 998.4
38 Consumer 298.7 300.6 303.9
39 Credit cards and
related plans 117.5 119.0 121.7
40 Other 181.1 181.6 182.2
41 Security (3) 9.0 8.4 8.8
42 Other loans and leases 108.2 107.3 108.2
43 Interbank loans 118.9 108.6 112.4
44 Cash assets (4) 134.7 131.6 137.3
45 Other assets (5) 160.0 160.8 160.7
46 Total assets (6) 2,874.4 2,874.3 2,886.3
Liabilities
47 Deposits 2,195.4 2,180.9 2,195.3
48 Transaction 325.6 335.1 356.2
49 Nontransaction 1,869.8 1,845.8 1,839.0
50 Large time 317.1 316.1 315.2
51 Other 1,552.6 1,529.7 1,523.9
52 Borrowings 424.6 434.8 444.1
53 From banks in the U.S. 156.0 162.7 172.8
54 From others 268.6 272.1 271.3
55 Net due to related foreign
offices 11.1 10.7 11.9
56 Other liabilities 87.0 88.4 86.5
57 Total liabilities 2,718.1 2,714.7 2,737.8
58 Residual (assets less
liabilities) (7) 156.3 159.7 148.5
E. Foreign-related institutions
Billions of dollars
Monthly averages
Account 2002 2003 2003
July Jan. Feb.
Assets Seasonally adjusted
1 Bank credit 613.3 633.6 646.7
2 Securities in bank
credit 238.9 268.5 279.1
3 U.S. government
securities 76.3 109.4 116.4
4 Other securities 162.6 159.1 162.7
5 Loans and leases in
bank credit (2) 374.4 365.1 367.6
6 Commercial and
industrial 190.9 177.2 174.1
7 Real estate 18.8 19.7 19.7
8 Security (3) 91.6 103.4 108.1
9 Other loans and
leases 73.2 64.8 65.6
10 Interbank loans 17.1 28.1 27.0
11 Cash assets (4) 47.8 40.1 38.7
12 Other assets (5) 27.6 34.6 35.1
13 Total assets (6) 705.5 735.9 747.1
Liabilities
14 Deposits 500.7 426.6 442.9
15 Transaction 9.9 9.7 10.3
16 Nontransaction 490.8 416.8 432.6
17 Borrowings 201.4 273.6 274.7
18 From banks in the
U.S. 20.1 31.0 31.1
19 From others 181.2 242.6 243.6
20 Net due to related
foreign offices -82.3 -70.4 -78.4
21 Other liabilities 91.4 95.8 99.9
22 Total liabilities 711.1 725.6 739.0
23 Residual (assets less
liabilities) (7) -5.6 10.3 8.1
Not seasonally adjusted
Assets
24 Bank credit 607.0 641.3 651.1
25 Securities in bank
credit 238.9 268.5 279.1
26 U.S. government
securities 76.3 109.4 116.4
27 Trading account 10.7 32.6 36.4
28 Investment
account 65.7 76.8 80.0
29 Other securities 162.6 159.1 162.7
30 Trading account 109.4 101.9 102.0
31 Investment
account 53.2 57.2 60.7
32 Loans and leases
in bank credit (2) 368.1 372.8 372.0
33 Commercial and
industrial 189.7 177.3 175.6
34 Real estate 18.8 19.7 19.7
35 Security (3) 87.9 110.4 111.0
36 Other loans and
lease 71.6 65.5 65.7
37 Interbank loans 17.1 28.1 27.0
38 Cash assets (4) 45.3 43.1 39.7
39 Other assets (5) 26.6 35.7 35.6
40 Total assets (6) 695.6 747.8 (r) 753.0
Liabilities
41 Deposits 489.9 442.7 453.0
42 Transaction 9.8 10.0 10.3
43 Nontransaction 480.1 432.7 442.8
44 Borrowings 201.4 273.6 274.7
45 From banks in the
U.S. 20.1 31.0 31.1
46 From others 181.2 242.6 243.6
47 Net due to related
to foreign offices -86.3 -67.8 -77.3
48 Other liabilities 89.2 97.4 100.7
49 Total liabilities 694.1 746.0 751.1
50 Residual (assets
less liabilities)
(7) 1.5 1.9 1.9
Monthly averages
2003 2003 2003
Account Mar. Apr. May
Seasonally adjusted
Assets
1 Bank credit 663.6 654.6 (r) 668.3
2 Securities in bank
credit 284.0 277.4 (r) 288.8
3 U.S. government
securities 122.6 125.4 130.9
4 Other securities 161.3 152.0 (r) 158.0
5 Loans and leases in
bank credit (2) 379.7 377.2 379.4
6 Commercial and
industrial 171.7 172.1 169.9
7 Real estate 19.8 19.0 19.2
8 Security (3) 121.4 118.0 118.5
9 Other loans and
leases 66.7 68.1 71.8
10 Interbank loans 27.2 22.5 24.7
11 Cash assets (4) 43.8 50.1 52.2
12 Other assets (5) 31.1 35.1 (r) 41.6 (r)
13 Total assets (6) 765.3 761.7 (r) 786.3 (r)
Liabilities
14 Deposits 448.4 436.4 438.7
15 Transaction 11.5 11.3 11.0
16 Nontransaction 436.9 425.1 427.7
17 Borrowings 293.4 298.7 307.1
18 From banks in the
U.S. 33.7 27.5 31.6
19 From others 259.7 271.2 275.5
20 Net due to related
foreign offices -83.8 -72.9 (r) -77.8
21 Other liabilities 95.4 91.2 105.3 (r)
22 Total liabilities 753.4 753.4 773.3 (r)
23 Residual (assets
less liabilities)
(7) 11.9 8.4 12.9
Not seasonally adjusted
Assets
24 Bank credit 661.8 654.4 (r) 663.6
25 Securities in bank
credit 284.0 277.4 (r) 288.8
26 U.S. government
securities 122.6 125.4 130.9
27 Trading account 37.2 39.7 43.0
28 Investment
account 85.5 85.7 87.9
29 Other securities 161.3 152.0 (r) 158.0
30 Trading account 101.7 97.9 105.1
31 Investment
account 59.7 54.2 52.9
32 Loans and leases
in bank credit (2) 377.9 377.0 374.7
33 Commercial and
industrial 173.2 171.1 168.1
34 Real estate 19.8 19.0 19.2
35 Security (3) 117.3 118.3 116.2
36 Other loans and
leases 67.6 68.6 71.3
37 Interbank loans 27.2 22.5 24.7
38 Cash assets (4) 42.6 47.9 50.5
39 Other assets (5) 31.8 34.9 41.7 (r)
40 Total assets (6) 763.1 759.2 (r) 780.0 (r)
Liabilities
41 Deposits 452.5 442.4 444.1
42 Transaction 11.1 10.7 10.6
43 Nontransaction 441.3 431.7 433.6
44 Borrowings 293.4 298.7 307.1
45 From banks in the
U.S. 33.7 27.5 31.6
46 From others 259.7 271.2 275.5
47 Net due to related
to foreign offices -81.6 (r) -73.3 -77.5
48 Other liabilities 97.0 90.9 105.6 (r)
49 Total liabilities 761.3 758.6 (r) 779.4 (r)
50 Residual (assets
less liabilities)
(7) 1.8 .6 .6
Monthly averages
2003 2003 2003
Account June July July 9
Assets
1 Bank credit 668.8 645.3 650.3
2 Securities in bank
credit 287.9 266.4 270.1
3 U.S. government
securities 129.1 119.4 120.3
4 Other securities 158.8 147.0 149.8
5 Loans and leases in
bank credit (2) 381.0 378.8 380.2
6 Commercial and
industrial 162.4 161.7 163.0
7 Real estate 19.2 19.1 19.1
8 Security (3) 121.2 118.1 117.5
9 Other loans and
leases 78.2 80.0 80.6
10 Interbank loans 30.8 33.2 32.8
11 Cash assets (4) 56.2 56.1 56.9
12 Other assets (5) 45.2 43.9 40.1
13 Total assets (6) 800.5 778.0 779.7
Liabilities
14 Deposits 450.6 463.0 460.8
15 Transaction 11.6 11.7 11.1
16 Nontransaction 439.0 451.3 449.7
17 Borrowings 318.9 300.3 297.0
18 From banks in the
U.S. 35.2 37.3 34.8
19 From others 283.8 263.0 262.2
20 Net due to related
foreign offices -81.9 -86.3 -77.7
21 Other liabilities 110.0 104.1 103.0
22 Total liabilities 797.5 781.1 783.0
23 Residual (assets
less liabilities)
(7) 3.0 -3.1 -3.3
Not seasonally adjusted
Assets
24 Bank credit 665.4 637.9 640.3
25 Securities in bank
credit 287.9 266.4 270.1
26 U.S. government
securities 129.1 119.4 120.3
27 Trading account 42.9 40.2 37.0
28 Investment
account 86.2 79.2 83.3
29 Other securities 158.8 147.0 149.8
30 Trading account 105.6 95.6 97.9
31 Investment
account 53.2 51.4 51.9
32 Loans and leases
in bank credit (2) 377.5 371.5 370.2
33 Commercial and
industrial 161.9 160.7 162.1
34 Real estate 19.2 19.1 19.1
35 Security (3) 118.7 113.3 109.7
36 Other loans and
leases 77.8 78.3 79.4
37 Interbank loans 30.8 33.2 32.8
38 Cash assets (4) 53.5 53.0 53.7
39 Other assets (5) 43.4 42.4 38.4
40 Total assets (6) 792.6 766.1 764.8
Liabilities
41 Deposits 448.7 453.1 449.1
42 Transaction 11.3 11.6 11.1
43 Nontransaction 437.5 441.5 438.0
44 Borrowings 318.9 300.3 297.0
45 From banks in the
U.S. 35.2 37.3 34.8
46 From others 283.8 263.0 262.2
47 Net due to related
to foreign offices -83.7 -89.4 -81.8
48 Other liabilities 108.4 101.6 99.9
49 Total liabilities 792.3 765.5 764.2
50 Residual (assets
less liabilities)
(7) .3 .6 .6
Wednesday figures
2003 2003 2003
July 16 July 23 July 30
Account
Seasonally adjusted
Assets
1 Bank credit 649.5 641.2 640.0
2 Securities in bank
credit 267.4 265.4 262.2
3 U.S. government
securities 120.1 120.1 117.7
4 Other securities 147.3 145.3 144.5
5 Loans and leases
in bank credit (2) 382.1 375.8 377.8
6 Commercial and
industrial 162.8 161.0 160.3
7 Real estate 19.1 19.0 19.2
8 Security (3) 120.6 116.4 118.1
9 Other loans and
leases 79.6 79.3 80.3
10 Interbank loans 32.2 34.5 34.0
11 Cash assets (4) 57.0 55.8 54.3
12 Other assets (5) 42.7 44.0 48.6
13 Total assets (6) 781.0 775.0 776.4
Liabilities
14 Deposits 462.7 464.4 466.8
15 Transaction 11.8 11.2 12.4
16 Nontransaction 450.9 453.2 454.4
17 Borrowings 304.7 294.2 300.8
18 From banks in the
U.S. 41.0 34.2 38.6
19 From others 263.7 259.9 262.2
20 Net due to related
foreign offices -84.1 -85.3 -96.1
21 Other liabilities 102.4 102.3 106.9
22 Total liabilities 785.8 775.5 778.4
23 Residual (assets
less liabilities) (7) -4.8 -.6 -2.0
Not seasonally adjusted
Assets
24 Bank credit 643.8 632.3 633.5
25 Securities in bank
credit 267.4 265.4 262.2
26 U.S. government
securities 120.1 120.1 117.7
27 Trading account 41.4 42.3 41.5
28 Investment
account 78.8 77.8 76.2
29 Other securities 147.3 145.3 144.5
30 Trading account 96.0 94.0 93.7
31 Investment
account 51.3 51.3 50.8
32 Loans and leases
in bank credit (2) 376.3 366.9 371.3
33 Commercial and
industrial 162.1 159.9 158.9
34 Real estate 19.1 19.0 19.2
35 Security (3) 116.8 111.1 115.1
36 Other loans and
lease 78.3 77.0 78.1
37 Interbank loans 32.2 34.5 34.0
38 Cash assets (4) 53.8 52.5 51.9
39 Other assets (5) 41.5 42.3 47.3
40 Total assets (6) 770.8 761.1 766.1
Liabilities
41 Deposits 453.1 454.7 458.1
42 Transaction 11.8 11.0 12.3
43 Nontransaction 441.3 443.7 445.7
44 Borrowings 304.7 294.2 300.8
45 From banks in
the U.S. 41.0 34.2 38.6
46 From others 263.7 259.9 262.2
47 Net due to related
to foreign offices -87.3 -88.4 -98.3
48 Other liabilities 99.8 100.0 105.1
49 Total liabilities 770.3 760.5 765.6
50 Residual (assets
less liabilities)
(7) .6 .6 .6
F. Memo items
Billions of dollars
Monthly averages
Account 2002 2003 2003
July Jan. Feb.
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet sheet items (8) 105.8 107.6 116.8
2 Revaluation losses on
off-balance-sheet
items (8) 89.7 86.2 94.9
3 Mortgage-backed securities (9) 322.2 370.9 376.9
4 Pass-through 237.0 271.6 276.9
5 CMO, REMIC, and other 85.2 99.3 100.0
6 Net unrealized gains (losses) on
available-for-sale
securities (10) 8.3 11.8 11.7
7 Off-shore credit to U.S.
residents (11) 19.1 18.3 18.2
8 Securitized consumer loans (12) 145.5 149.7 150.6
9 Credit cards and related plans 128.1 132.2 134.8
10 Other 17.4 17.5 15.8
11 Securitized business loans (12) 10.6 (r) 10.5 (r) 10.6 (r)
Small domestically chartered
commercial banks, adjusted
for
mergers
12 Mortgage-backed securities (9) 295.7 308.7 314.5
13 Securitized consumer loans (12) 203.0 205.4 204.2
14 Credit cards and related plans 199.4 197.0 195.8
15 Other 3.6 8.5 8.4
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 61.6 67.0 67.1
17 Revaluation losses on
off-balance-sheet items (8) 57.4 63.0 64.9
18 Securitized business loans (12) 9.4 5.6 4.6
Monthly averages
Account 2003 2003 2003
Mar. Apr. May
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
sheet items (8) 115.1 105.7 128.1
2 Revaluation losses on
off-balance-sheet
items (8) 91.3 81.4 105.1
3 Mortgage-backed securities (8) 381.4 400.8 427.1
4 Pass-through 276.2 288.5 314.2
5 CMO, REMIC, and other 105.1 112.2 112.9
6 Net unrealized gains (losses) on
available-for-sale
securities (10) 11.7 10.6 12.1
7 Off-shore credit to U.S.
residents (11) 18.2 17.5 17.3
8 Securitized consumer loans (12) 152.5 154.2 155.0
9 Credit cards and related plans 136.7 138.7 139.4
10 Other 15.8 15.5 15.5
11 Securitized business loans (12) 10.4 (r) 10.0 (r) 10.2 (r)
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 325.7 335.6 334.3
13 Securitized consumer loans (12) 202.8 205.2 205.0
14 Credit cards and related plans 194.3 196.9 196.8
15 Other 8.5 8.3 8.2
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 65.4 64.9 73.5
17 Revaluation losses on
off-balance-sheet items (8) 63.6 62.4 72.6
18 Securitized business loans (12) 4.1 3.3 3.0
Monthly averages
Account 2003 2003 2003
June July July 9
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 134.9(r) 112.5 121.1
2 Revaluation losses on
off-balance-sheet
items (8) 109.9 85.3 93.9
3 Mortgage-backed securities (8) 436.7 412.6 429.2
4 Pass-through 324.7 301.5 317.3
5 CMO, REMIC, and other 111.9 111.1 111.9
6 Net unrealized gains (losses) on
available-for-sale
securities (10) 14.1 7.0 10.1
7 Off-shore credit to U.S.
residents (11) 16.6 15.5 15.2
8 Securitized consumer loans (12) 156.7 161.1 160.9
9 Credit cards and related plans 140.6 144.0 144.0
10 Other 16.1 17.0 16.9
11 Securitized business loans (12) 9.9(r) 8.4 9.7
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 332.3 326.8 328.3
13 Securitized consumer loans (12) 205.0 201.8 202.6
14 Credit cards and related
plans 196.9 193.7 194.5
15 Other 8.1 8.1 8.1
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 72.6 65.3 66.4
17 Revaluation losses on
off-balance-sheet items (8) 72.6 64.8 66.2
18 Securitized business loans (12) 2.5 1.6 1.6
Wednesday figures
Account 2002 2003 2003
July 16 July 23 July 30
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on
off-balance-sheet
items (8) 112.8 103.9 110.2
2 Revaluation losses on
off-balance-sheet
items (8) 84.7 75.5 83.8
3 Mortgage-backed securities (8) 385.9 409.0 419.0
4 Pass-through 277.7 301.1 303.6
5 CMO, REMIC, and other 108.2 107.9 115.4
6 Net unrealized gains (losses) on
available-for-sale
securities (10) 8.6 6.3 2.3
7 Off-shore credit to U.S.
residents (11) 15.4 15.6 15.7
8 Securitized consumer loans (12) 160.7 160.5 162.4
9 Credit cards and related plans 143.9 143.8 144.4
10 Other 16.8 16.7 18.0
11 Securitized business loans 7.9 7.9 7.8
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 323.9 328.7 326.0
13 Securitized consumer loans (12) 201.7 201.7 200.9
14 Credit cards and related plans 193.6 193.6 192.8
15 Other 8.1 8.1 8.1
Foreign-related institutions
16 Revaluation gains on
off-balance-sheet items (8) 65.9 64.7 63.8
17 Revaluation losses on
off-balance-sheet items (8) 65.2 64.0 63.3
18 Securitized business loans (12) 1.6 1.6 1.6
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. Date are Wednesday values or pro rata averages
of Wednesday values. Large domestic banks constitute a universe;
data
for small domestic banks and foreign-related institutions are
estimates based on weekly samples and on quarter-end condition
reports. Data are adjusted for breaks caused by reclassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. A17-19
are adjusted to remove the estimated effects of mergers between these
two groups. The adjustment for mergers changes past levels to make
them comparable with current levels. Estimated quantities of balance
sheet items acquired in mergers are removed from past data for the
bank group that contained the acquired bank and put into past data
for the group containing the acquiring bank. Balance sheet data
for acquired banks are obtained from Call Reports, and a ratio
procedure is used to adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans made
to commercial banks in the United States, all of which are included
in "Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and
loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balance
due form 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 replaced net of tax effects. Data shown are
restated to include an estimate of these tax effects.
11. Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
12. Total amount outstanding.
1.32 COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Item Year ending December
1998 1999 2000
1 All issuers (1) 1,163,303 1,403,023 1,619,274
Financial companies (1)
2 Dealer-placed paper,
total (2) 614,142 786,643 963,070
3 Directly placed paper,
total (3) 322,030 337,240 312,771
4 Nonfinancial companies (4) 227,132 279,140 343,433
Item Year ending December 2003
2001 2002 Jan.
1 All issuers 1,458,870 1,347,997 1,373,133
Financial companies (1)
2 Dealer-placed paper,
total (2) 967,748 976,163 983,059
3 Directly placed paper,
total (3) 266,276 217,787 236,820
4 Nonfinancial companies (4) 224,847 154,047 153,254
2003 2003 2003
Item Feb. Mar. Apr.
1 All issuers 1,346,782 1,341,270 1,342,147
Financial companies (1)
2 Dealer-placed paper,
total (2) 952,868 946,773 961,002
3 Directly placed paper,
total (3) 239,037 244,054 232,879
4 Nonfinancial companies (4) 154,876 149,993 148,266
2003 2003
Item
May June
1 All issuers 1,365,704 1,324,911
Financial companies (1)
2 Dealer-placed paper,
total (2) 1,003,088 974,116
3 Directly placed paper,
total (3) 222,597 219,960
4 Nonfinancial companies (4) 140,020 130,835
(1.) Institutions engaged primarily in commercial, savings, and
mortgage banking; sales, personal and mortgage financing, 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,
wholesale
and retail trade, transportation, and services.
PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent Per year
Date of change Rate Period Average rate
2000-Jan. 1 8.50 2000 9.23
Feb. 3 8.75 2001 6.91
Mar. 22 9.00 2002 4.67
May 17 9.50
2000-Jan. 8.50
2001-Jan. 4 9.00 Feb. 8.73
Feb. 1 8.50 Mar. 8.83
Mar. 21 8.00 Apr. 9.00
Apr. 19 7.50 May 9.24
May 16 7.00 June 9.50
June 28 6.75 July 9.50
Aug. 22 6.50 Aug. 9.50
Sept. 18 6.00 Sept. 9.50
Oct. 3 5.50 Oct. 9.50
Nov. 7 5.00 Nov. 9.50
Dec. 12 4.75 Dec. 9.50
2002-Nov. 7 4.25
2003-June 27 4.00
Period Average Rate Period Average Rate
2001-Jan. 9.05 2002-Jan. 4.75
Feb. 8.50 Feb. 4.75
Mar. 8.32 Mar. 4.75
Apr. 7.80 Apr. 4.75
May 7.24 May 4.75
June 6.98 June 4.75
July 6.75 July 4.75
Aug. 6.67 Aug. 4.75
Sept. 6.28 Sept. 4.75
Oct. 5.53 Oct. 4.75
Nov. 5.10 Nov. 4.35
Dec. 4.84 Dec. 4.25
2003-Jan. 4.25
Feb. 4.25
Mar. 4.25
Apr. 4.25
May 4.25
June 4.25
July 4.00
Aug. 4.00
(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
Item 2000 2001
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 6.24 3.88
2 Discount window primary credit (2,4) n.a. n.a.
Commercial paper (3,5,6)
Nonfinancial
3 1-month 6.27 3.78
4 2-month 6.29 3.68
5 3-month 6.31 3.65
Financial
6 1-month 6.28 3.80
7 2-month 6.30 3.71
8 3-month 6.33 3.65
Certificates of deposit,
secondary market (3,7)
9 1-month 6.35 3.84
10 3-month 6.46 3.71
11 6-month 6.59 3.66
12 Eurodollar deposits, 3-month (3,8) 6.45 3.70
U.S. Treasury bills
Secondary market (3,5)
13 4-week n.a. 2.43
14 3-month 5.82 3.40
15 6-month 5.90 3.34
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 6.11 3.49
17 2-year 6.26 3.83
18 3-year 6.22 4.09
19 5-year 6.16 4.56
20 7-year 6.20 4.88
21 10-year 6.03 5.02
22 20-year 6.23 5.63
Treasury long-term average (10,11)
23 25 years and above n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 5.58 5.01
25 Baa 6.19 5.75
26 Bond Buyer series (13) 5.71 5.15
CORPORATE BONDS
27 Seasoned issues, all industries (14) 7.98 7.49
Rating group
28 Aaa (15) 7.62 7.08
29 Aa 7.83 7.26
30 A 8.11 7.67
31 Baa 8.37 7.95
MEMO
Dividend-price ratio (16)
32 Common stocks 1.15 1.32
Item 2003
2002 Apr.
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.67 1.26
2 Discount window primary credit (2,4) n.a. 2.25
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.67 1.22
4 2-month 1.67 1.21
5 3-month 1.69 1.20
Financial
6 1-month 1.68 1.24
7 2-month 1.69 1.23
8 3-month 1.70 1.23
Certificates of deposit,
secondary market (3,7)
9 1-month 1.72 1.26
10 3-month 1.73 1.24
11 6-month 1.81 1.23
12 Eurodollar deposits, 3-month (3,8) 1.73 1.23
U.S. Treasury bills
Secondary market (3,5)
13 4-week 1.60 1.14
14 3-month 1.61 1.13
15 6-month 1.68 1.14
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 2.00 1.27
17 2-year 2.64 1.62
18 3-year 3.10 2.06
19 5-year 3.82 2.93
20 7-year 4.30 3.47
21 10-year 4.61 3.96
22 20-year 5.43 4.91
Treasury long-term average (10,11)
23 25 years and above 5.41 4.99
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.87 4.60
25 Baa 5.64 5.34
26 Bond Buyer series (13) 5.04 4.74
CORPORATE BONDS
27 Seasoned issues, all industries (14) 7.10 6.32
Rating group
28 Aaa (15) 6.49 5.74
29 Aa 6.93 6.22
30 A 7.18 6.45
31 Baa 7.80 6.85
MEMO
Dividend-price ratio (16)
32 Common stocks 1.61 1.81
2003
Item May June
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.26 1.22
2 Discount window primary credit (2,4) 2.25 2.20
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.21 1.06
4 2-month 1.20 1.03
5 3-month 1.19 1.01
Financial
6 1-month 1.24 1.08
7 2-month 1.22 1.04
8 3-month 1.20 1.02
Certificates of deposit,
secondary market (3,7)
9 1-month 1.26 1.10
10 3-month 1.22 1.04
11 6-month 1.19 1.02
12 Eurodollar deposits, 3-month (3,8) 1.21 1.03
U.S. Treasury bills
Secondary market (3,5)
13 4-week 1.06 0.96
14 3-month 1.07 0.92
15 6-month 1.08 0.92
U.S. TREASURY NOTES AND BONDS
Constant maturities
16 1-year 1.18 1.01
17 2-year 1.42 1.23
18 3-year 1.75 1.51
19 5-year 2.52 2.27
20 7-year 3.07 2.84
21 10-year 3.57 3.33
22 20-year 4.52 4.34
Treasury long-term average (10,11)
23 25 years and above 4.61 4.45
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.16 4.07
25 Baa 4.91 4.68
26 Bond Buyer series (13) 4.41 4.33
CORPORATE BONDS
27 Seasoned issues, all industries (14) 5.88 5.70
Rating group
28 Aaa (15) 5.22 4.97
29 Aa 5.85 5.72
30 A 6.08 5.92
31 Baa 6.38 6.19
MEMO
Dividend-price ratio (16)
32 Common stocks 1.72 1.64
Item July June 27
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.01 1.21
2 Discount window primary credit (2,4) 2.00 2.21
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.01 0.97
4 2-month 1.02 0.95
5 3-month 1.01 0.92
Financial
6 1-month 1.02 0.98
7 2-month 1.03 0.95
8 3-month 1.03 0.94
Certificates of deposit,
secondary market (3,7)
9 1-month 1.05 1.00
10 3-month 1.05 0.98
11 6-month 1.06 0.97
12 Eurodollar deposits, 3-month (3,8) 1.04 0.96
U.S. Treasury bills
Secondary market (3,5)
13 4-week 0.88 0.83
14 3-month 0.90 0.86
15 6-month 0.95 0.89
U.S. TREASURY NOTES AND BONDS
Constant maturities
16 1-year 1.12 1.02
17 2-year 1.47 1.28
18 3-year 1.93 1.59
19 5-year 2.87 2.36
20 7-year 3.45 2.93
21 10-year 3.98 3.42
22 20-year 4.92 4.43
Treasury long-term average (10,11)
23 25 years and above 5.00 4.54
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.59 4.25
25 Baa 5.17 4.85
26 Bond Buyer series (13) 4.74 4.47
CORPORATE BONDS
27 Seasoned issues, all industries (14) 6.13 5.76
Rating group
28 Aaa (15) 5.49 5.06
29 Aa 6.07 5.76
30 A 6.35 5.96
31 Baa 6.62 6.26
MEMO
Dividend-price ratio (16)
32 Common stocks 1.64 1.66
2003, week ending
Item July 4 July 11
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.13 0.96
2 Discount window primary credit (2,4) 2.00 2.00
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.01 1.01
4 2-month 1.01 1.01
5 3-month 1.02 1.01
Financial
6 1-month 1.03 1.02
7 2-month 1.03 1.02
8 3-month 1.03 1.02
Certificates of deposit,
secondary market (3,7)
9 1-month 1.05 1.05
10 3-month 1.05 1.04
11 6-month 1.05 1.05
12 Eurodollar deposits, 3-month (3,8) 1.05 1.04
U.S. Treasury bills
Secondary market (3,5)
13 4-week 0.84 0.88
14 3-month 0.87 0.88
15 6-month 0.94 0.94
U.S. TREASURY NOTES AND BONDS
Constant maturities
16 1-year 1.07 1.08
17 2-year 1.31 1.35
18 3-year 1.67 1.74
19 5-year 2.49 2.60
20 7-year 3.07 3.19
21 10-year 3.58 3.72
22 20-year 4.56 4.68
Treasury long-term average (10,11)
23 25 years and above 4.67 4.78
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.34 4.40
25 Baa 4.94 5.00
26 Bond Buyer series (13) 4.51 4.56
CORPORATE BONDS
27 Seasoned issues, all industries (14) 5.88 5.97
Rating group
28 Aaa (15) 5.20 5.30
29 Aa 5.87 5.94
30 A 6.10 6.23
31 Baa 6.36 6.42
MEMO
Dividend-price ratio (16)
32 Common stocks 1.64 1.63
Item July 18 July 25
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.02 1.01
2 Discount window primary credit (2,4) 2.00 2.00
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.01 1.02
4 2-month 1.01 1.02
5 3-month 1.00 1.01
Financial
6 1-month 1.01 1.02
7 2-month 1.02 1.03
8 3-month 1.02 1.02
Certificates of deposit,
secondary market (3,7)
9 1-month 1.05 1.05
10 3-month 1.05 1.05
11 6-month 1.06 1.07
12 Eurodollar deposits, 3-month (3,8) 1.05 1.04
U.S. Treasury bills
Secondary market (3,5)
13 4-week 0.84 0.88
14 3-month 0.89 0.91
15 6-month 0.94 0.96
U.S. TREASURY NOTES AND BONDS
Constant maturities
16 1-year 1.10 1.13
17 2-year 1.45 1.56
18 3-year 1.90 2.07
19 5-year 2.82 3.08
20 7-year 3.40 3.65
21 10-year 3.93 4.18
22 20-year 4.88 5.09
Treasury long-term average (10,11)
23 25 years and above 4.95 5.15
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.56 4.75
25 Baa 5.12 5.31
26 Bond Buyer series (13) 4.71 4.83
CORPORATE BONDS
27 Seasoned issues, all industries (14) 6.09 6.24
Rating group
28 Aaa (15) 5.45 5.62
29 Aa 6.04 6.16
30 A 6.30 6.44
31 Baa 6.57 6.75
MEMO]
Dividend-price ratio (16)
32 Common stocks 1.63 1.64
Note. Some of the data in this table also appear in the Board's H.15
(519) weekly statistical release. For ordering address, see inside
front cover.
(1.) The daily effective federal funds rate is a weighted average of
rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days, ending on
Wednesday of the current week; monthly figures include each calendar
day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) The rate charged for discounts made and advances extended under
the Federal Reserve's primary credit discount window program, which
became effective January 9, 2003. This rate replaces that for
adjustment credit, which was discontinued after January 8, 2003.
For further information, see http://www.federalreserve.gov/boarddocs/
press/bcreg/2002/200210312/default.htm. The rate reported is that
for the Federal Reserve Bank of New York. Historical series for the
rate on adjustment credit is available at http://www.federalreserve
.gov./releases/h15/data.htm.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial
paper
trades settled by the Depository Trust Company. The trades represent
sales of commercial paper by dealers or direct issuers to investors
(that is, the offer side.) See the Board's Commercial Paper web pages
(http://www.federalreserve.gov/releases/cp) for more information.
(7.) An average of dealer offering rates on nationally traded
certificates
of deposit.
(8.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purposes only.
(9.) Yields on actively traded issues adjusted to constant
maturities.
(10.) Based on the unweighted average of the bid yields for
all Treasury
fixed-coupon securities with remaining terms to maturity of
25 years
and over.
(11.) A factor for adjusting the daily long-term average
in order to
estimate a 30-year rate can be found at http://www.treas.gov/offices/
domestic-finance/debt-management/interest-rate/ltcompositeindex.html.
(12.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(13.) State and local government general obligation bonds
maturing in
twenty years are used in compiling this index. The twenty-bond
index
has a rating roughly equivalent to Moody's Al rating. Based on
Thursday figures.
(14.) Daily figures are averages of Aaa, Aa, A and Baa yields from
Moody's Investors Service. Based on yields to maturity on selected
long-term bonds.
(15.) Effective December 7, 2001, Moody's Aaa yield includes
yields only
for industrial firms. Prior to December 7, 2001, the Aaa yield
represented both utilities and industrial.
(16.) Standard & Poor's corporate series. Common stock ratio
is based
on the 500 stocks in the price index.
SOURCE: U.S. Department of the Treasury.
1.36 STOCK MARKET Selected Statistics
Indicator 2000 2001
Prices and trading volume
(averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965=50) 6,806.46 6,407.95
2 Industrial 809.40 749.46
3 Transportation 414.73 444.45
4 Utility 478.99 377.72
5 Finance 552.48 596.61
6 Standard & Poor's Corporation
(1941-43=10) (1) 1,427.22 1,194.18
7 American Stock Exchange
(Aug. 31, 1973=50) (2) 922.22 879.08
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,026,867 1,216,529
9 American Stock Exchange 51,437 68,074
Customer financing
(millions of dollars, end
of-period- balances)
10 Margin credit at broker-dealers (3) 198,790 150,450
Free credit balances at brokers (4)
11 Margin accounts (5) 100,680 101,640
12 Cash accounts 84,400 78,041
Margin requirements
(percent of market value
and effective date) (6)
Mar. 11. 1968
13 Margin stocks 70
14 Convertible bonds 50
15 Short sales 70
Indicator 2002 2002
Nov.
Prices and trading volume
(averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965=50) 5,571.46 5,104.89
2 Industrial 656.44 597.75
3 Transportation 430.63 405.03
4 Utility 260.50 229.41
5 Finance 554.88 523.50
6 Standard & Poor's Corporation
(1941-43=10) (1) 993.94 909.93
7 American Stock Exchange
(Aug. 31, 1973=50) (2) 860.11 820.62
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,411,689 1,427,254
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars, end
of-period-balances)
10 Margin credit at broker-dealers (3) 134,380 133,060
Free credit balances at brokers (4)
11 Margin accounts (5) 95,690 91,240
12 Cash accounts 73,340 67,380
Margin requirements
(percent of market value
and effective date) (6)
June 8, 1968
13 Margin stocks 80
14 Convertible bonds 60
15 Short sales 80
Indicator 2002 2003
Dec. Jan.
Prices and trading volume
(averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965=50) 5,075.76 5,055.78
2 Industrial 593.15 587.78
3 Transportation 401.39 394.60
4 Utility 236.71 236.42
5 Finance 519.72 522.51
6 Standard & Poor's Corporation
(1941-43=10) (1) 899.18 895.84
7 American Stock Exchange
(Aug. 31, 1973=50) (2) 823.77 824.64
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,210,332 1,441,846
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars, end
of-period- balances)
10 Margin credit at broker-dealers (3) 134,380 134,910
Free credit balances at brokers (4)
11 Margin accounts (5) 95,690 96,430
12 Cash accounts 73,340 66,200
Margin requirements
(percent of market value
and effective date) (6)
May 6, 1970
13 Margin stocks 65
14 Convertible bonds 50
15 Short sales 65
2003 2003
Indicator Feb. Mar.
Prices and trading volume
(averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965=50) 4,738.56 4,724.22
2 Industrial 553.90 558.10
3 Transportation 367.55 366.90
4 Utility 214.64 211.45
5 Finance 485.72 486.71
6 Standard & Poor's Corporation
(1941-43=10)(1) 837.62 846.62
7 American Stock Exchange
(Aug. 31, 1973=50) (2) 818.84 822.34
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,302,011 1,403,742
9 American Stock Exchange n.a. n a.
Customer financing
(millions of dollars, end
of-period- balances)
10 Margin credit at broker-dealers (3) 134,030 135,910
Free credit balances at brokers (4)
11 Margin accounts (5) 95,400 90,830
12 Cash accounts 67,260 68,860
Margin requirements
(percent of market value
and effective date) (6)
Dec. 6, 1971
13 Margin stocks 55
14 Convertible bonds 50
15 Short sales 55
2003 2003
Indicator Apr. May
Prices and trading volume
(averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965=50) 4,977.45 5,269.96
2 Industrial 583.74 613.26
3 Transportation 395.85 425.12
4 Utility 221.06 238.33
5 Finance 522.05 549.91
6 Standard & Poor's Corporation
(1941-43=10) (1) 890.03 935.96
7 American Stock Exchange
(Aug. 31, 1973=50) (2) 837.92 894.74
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,381,580 1,455,858
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars, end
of-period- balances)
10 Margin credit at broker-dealers (3) 140,450 146,380
Free credit balances at brokers (4)
11 Margin accounts (5) 88,770 88,540
12 Cash accounts 70,080 71,270
Margin requirements
(percent of market value
and effective date) (6)
Nov. 24, 1972
13 Margin stocks 65
14 Convertible bonds 50
15 Short sales 65
2003 2003
Indicator June July
Prices and trading volume
(averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965=50) 5,583.60 5,567.94
2 Industrial 649.25 648.00
3 Transportation 441.81 445.29
4 Utility 254.16 244.67
5 Finance 579.48 588.81
6 Standard & Poor's Corporation
(1941-43=10) (1) 988.00 992.54
7 American Stock Exchange
(Aug. 31, 1973=50) (2) 962.46 959.26
Volume of trading
(thousands of shares)
8 New York Stock Exchange 1,472,560 1,412,818
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars, end
of-period-balances)
10 Margin credit at broker-dealers (3) 148,550 148,450
Free credit balances at brokers (4)
11 Margin accounts (5) 87,920 91,210
12 Cash accounts 74,350 76,170
Margin requirements
(percent of market value
and effective date) (6)
Jan. 3, 1974
13 Margin stocks 50
14 Convertible bonds 50
15 Short sales 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly
425), 20 transportation (formerly 15 rail), 40 public utility
(formerly 60), and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised regulation T, margin credit
at broker-dealers has included credit extended against stocks,
convertible bonds, stocks acquired through the exercise of
subscription rights, corporate bonds, and government securities.
Separate reporting of data for margin stocks, convertible bonds,
and subscription issues was discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers
on demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the
Board of Governors pursuant to the Securities Exchange Act of
1934, limit the amount of credit that can be used to purchase
and carry "margin securities" (as defined in the regulations)
when such credit is collateralized by securities. Margin
requirements on securities are the difference between the
market value (100 percent) and the maximum loan value of
collateral as prescribed by the Board. Regulation T was adopted
effective Oct. 15, 1934; Regulation 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 margins
required by the appropriate exchange or self-regulatory
organization; such maintenance margin rules must be approved
by the Securities and Exchange Commission.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2001
Item
June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 5,753.9 5,834.5 5,970.3
2 Public debt securities 5,726.8 5,807.5 5,943.4
3 Held by public 3,274.2 3,338.7 3,393.8
4 Held by agencies 2,452.6 2,468.8 2,549.7
5 Agency securities 27.1 27.0 26.8
6 Held by public 27.1 27.0 26.8
7 Held by agencies .0 .0 .0
8 Debt subject to statutory 5,645.0 5,732.6 5,871.4
limit
9 Public debt securities 5,644.8 5,732.4 5,871.2
10 Other debt (1) .2 .2 .3
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2002
Item
Mar. 31 June 30 Sept. 30 (r)
1 Federal debt outstanding 6,032.4 6,153.3 6,255.4
2 Public debt securities 6,006.0 6,126.5 6,228.2
3 Held by public 3,443.7 3,463.5 3,552.6
4 Held by agencies 2,562.4 2,662.9 2,675.6
5 Agency securities 26.4 26.8 27.2
6 Held by public 26.4 26.8 27.2
7 Held by agencies .0 .0 .0
8 Debt subject to statutory 5,935.1 6,058.3 6,161.4
limit
9 Public debt securities 5,935.0 6,058.1 6,161.1
10 Other debt (1) .2 .2 .3
MEMO
11 Statutory debt limit 5,950.0 6,400.0 6,400.0
Item
Dec. 31 (r)
1 Federal debt outstanding 6,433.0
2 Public debt securities 6,405.7
3 Held by public 3,647.4
4 Held by agencies 2,758.3
5 Agency securities 27.3
6 Held by public 27.3
7 Held by agencies .0
8 Debt subject to statutory 6,359.4
limit
9 Public debt securities 6,359.1
10 Other debt (1) .3
MEMO
11 Statutory debt limit 6,400.0
2003
Item
Mar. 31 (r) June 30 (r)
1 Federal debt outstanding 6,487.7 6,697.1
2 Public debt securities 6,460.8 6,670.1
3 Held by public 3,710.8 3,816.3
4 Held by agencies 2,750.0 2,853.8
5 Agency securities 26.9 27.0
6 Held by public 26.9 27.0
7 Held by agencies .0 .0
8 Debt subject to statutory 6,400.0 6,625.5
limit
9 Public debt securities 6,399.8 6,625.3
10 Other debt (1) .2 .2
MEMO
11 Statutory debt limit 6,400.0 7,384.0
(1.) Consist of guaranteed debt of U.S. Treasury and other federal
agencies, specified participation certificates, notes to
international lending organizations, and District of Columbia
stadium bonds.
Source: U.S. Department of the Treasury, Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1999 2000
1 Total gross public debt 5,776.1 5,662.2
By type
2 Interest-bearing 5,766.1 5,618.1
3 Marketable 3,281.0 2,966.9
4 Bills 737.1 646.9
5 Notes 1,784.5 1,557.3
6 Bonds 643.7 626.5
7 Inflation-indexed notes and bonds (1) 100.7 121.2
8 Nonmarketable (2) 2,485.1 2,651.2
9 State and local government series 165.7 151.0
10 Foreign issues (3) 31.3 27.2
11 Government 31.3 27.2
12 Public .0 .0
13 Savings bonds and notes 179.4 176.9
14 Government account series (4) 2,078.7 2,266.1
15 Non-interest-bearing 10.0 44.2
By holder (5)
16 U.S. Treasury and other federal 2,064.2 2,270.1
agencies and trust funds
17 Federal Reserve Banks (6) 478.0 511.7
18 Private investors 3,233.9 2,880.4
19 Depository institutions 248.7 201.5
20 Mutual funds 228.6 220.8
21 Insurance companies 123.4 110.2
22 State and local treasuries (7) 266.8 236.2
Individuals
23 Savings bonds 186.4 184.8
24 Pension funds 321.0 304.1
25 Private 109.8 108.4
26 State and local 211.2 195.7
27 Foreign and international (8) 1,268.7 1,034.2
28 Other miscellaneous investors (7,9) 590.3 588.7
Type and holder 2001 2002
1 Total gross public debt 5,943.4 6,405.7
By type
2 Interest-bearing 5,930.8 6,391.4
3 Marketable 2,982.9 3,205.1
4 Bills 811.3 888.8
5 Notes 1,413.9 1,580.8
6 Bonds 602.7 588.7
7 Inflation-indexed notes and bonds (1) 140.1 146.9
8 Nonmarketable (2) 2,947.9 3,186.3
9 State and local government series 146.3 153.4
10 Foreign issues (3) 15.4 11.2
11 Government 15.4 11.2
12 Public .0 .0
13 Savings bonds and notes 181.5 184.8
14 Government account series (4) 2,574.8 2,806.9
15 Non-interest-bearing 12.7 14.3
By holder (5)
16 U.S. Treasury and other federal 2,575.2 2,757.8
agencies and trust funds
17 Federal Reserve Banks (6) 551.7 629.4
18 Private investors 2,819.5 3,018.5
19 Depository institutions 181.5 222.6
20 Mutual funds 257.5 279.0
21 Insurance companies 105.7 133.9
22 State and local treasuries (7) 256.5 274.2
Individuals
23 Savings bonds 190.3 194.9
24 Pension funds 281.6 289.9
25 Private 104.2 113.6
26 State and local 177.4 176.3
27 Foreign and international (8) 1,053.1 1,212.7
28 Other miscellaneous investors (7,9) 493.3 433.8
2002
Type and holder Q3 Q4
1 Total gross public debt 6,228.2 6,405.7
By type
2 Interest-bearing 6,216.3 6,391.4
3 Marketable 3,136.6 3,205.1
4 Bills 868.3 888.8
5 Notes 1,521.5 1,580.8
6 Bonds 592.9 588.7
7 Inflation-indexed notes and bonds (1) 138.9 146.9
8 Nonmarketable (2) 3,079.6 3,186.3
9 State and local government series 144.3 153.4
10 Foreign issues (3) 12.5 11.2
11 Government 12.5 11.2
12 Public .0 .0
13 Savings bonds and notes 185.6 184.8
14 Government account series (4) 2,707.3 2,806.9
15 Non-interest-bearing 12.0 14.3
By holder (5)
16 U.S. Treasury and other federal 2,701.3 2,757.8
agencies and trust funds
17 Federal Reserve Banks (6) 604.2 629.4
18 Private investors 2,924.8 3,018.5
19 Depository institutions 210.4 222.6
20 Mutual funds 255.6 279.0
21 Insurance companies 126.8 133.9
22 State and local treasuries (7) 269.4 274.2
Individuals
23 Savings bonds 193.3 194.9
24 Pension funds 284.9 289.9
25 Private 110.9 113.6
26 State and local 174.1 176.3
27 Foreign and international (8) 1,167.1 1,212.7
28 Other miscellaneous investors (7,9) 429.9 433.8
2003
Type and holder Q1 Q2
1 Total gross public debt 6,460.8 6,670.1
By type
2 Interest-bearing 6,474.0 6,656.5 (r)
3 Marketable 3,331.8 3,379.0 (r)
4 Bills 955.0 927.8
5 Notes 1,622.9 1,713.7
6 Bonds 585.7 582.4
7 Inflation-indexed notes and bonds (1) 153.2 155.0
8 Nonmarketable (2) 3,142.2 3,277.6
9 State and local government series 148.8 140.5
10 Foreign issues (3) 12.2 11.7
11 Government 12.2 11.7
12 Public .0 .0
13 Savings bonds and notes 187.3 189.9
14 Government account series (4) 2,763.8 2,905.5
15 Non-interest-bearing 13.8 13.6 (r)
By holder (5)
16 U.S. Treasury and other federal 2,763.3 2,853.3
agencies and trust funds
17 Federal Reserve Banks (6) 641.5 652.1
18 Private investors 3,056.0 (r) 3,164.7
19 Depository institutions 153.1 (r) 144.8
20 Mutual funds 296.3 (r) 298.5
21 Insurance companies 151.2 (r) 161.7
22 State and local treasuries (7) 306.2 (r) 318.5
Individuals
23 Savings bonds 196.9 199.1
24 Pension funds 244.2 (r) 254.5
25 Private 66.9 (r) 69.1
26 State and local 177.2 (r) 185.4
27 Foreign and international (8) 1,254.6 (r) 1,355.3
28 Other miscellaneous investors (7,9) 443.34 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, and individual
retirement bonds.
(3.) Nonmarketable series denominated in dollars, and series
denominated in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal
agencies and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies
and trust funds are actual holdings; data for other groups are
Treasury estimates.
(6.) U.S. Treasury securities bought outright by Federal Reserve
Banks, see Bulletin table 1.18.
(7.) In March 1996, in a redefinition of series, fully defeased
debt backed by nonmarketable federal securities was removed
from "Other miscellaneous investors" and added to "State and
local treasuries." The data shown here have been revised
accordingly.
(8.) Includes nonmarketable foreign series Treasury securities
and Treasury deposit funds. Excludes Treasury securities held
under repurchase agreements in custody accounts at the Federal
Reserve Bank of New York.
(9.) Includes individuals, government-sponsored enterprises,
brokers and dealers, bank personal trusts and estates,
corporate and noncorporate businesses, and other investors.
SOURCES: Data by type of security, U.S. Treasury Department,
Monthly Statement of the Public Debt of the United States;
data by holder, Federal Reserve Board of Governors, Flow
of Funds Accounts of the United States and U.S. Treasury
Department, Treasury Bulletin, unless otherwise noted.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions (1)
Millions of dollars, daily averages
2003
Item
Apr.. May June
By type of security
1 U.S. Treasury bills 45,958 48,474 50,058
Treasury coupon securities by
maturity
2 Three years or less 118,650 167,853 152,654
3 More than three but less than or
equal to six years 98,983 139,291 131,546
4 More than six but less than or
equal to eleven years 72,089 117,206 106,432
5 More than eleven 19,829 36,907 31,439
6 Inflation-indexed (2) 3,092 4,303 2,949
Federal agency ad government-
sponsored enterprises
7 Discount notes 52,188 60,395 62,416
Coupon securities by maturity
8 Three years or less 11,020 11,262 13,029
9 More than three years but less
than or equal to six years 9,753 10,180 10,171
10 More than six years but less
than or equal to eleven years 5,166 7,723 9,211
11 More than eleven years 647 1,078 1,486
12 Mortgage-backed 216,931 255,830 228,360
Corporate securities
13 One year or less 125,402 121,358 140,708
14 More than one year 20,592 23,053 21,940
By type of counterparty
With interdealer broker
15 U.S. Treasury 164,812 236,729 219,499
16 Federal agency and government-
sponsored enterprises 8,077 10,429 11,148
17 Mortgage-backed 56,005 71,749 62,176
18 Corporate 554 532 581
With other
19 U.S. Treasury 193,790 277,305 255,580
20 Federal agency and government-
sponsored enterprises 70,697 80,208 85,166
21 Mortgage-backed 160,926 184,080 166,185
22 Corporate 145,441 143,879 162,067
2003, week ending
Item
June 4 June 11 June 18
By type of security
1 U.S. Treasury bills 52,776 48,763 46,850
Treasury coupon securities by
maturity
2 Three years or less 180,090 139,465 138,686
3 More than three but less than or
equal to six years 127,409 137,071 128,937
4 More than six but less than or
equal to eleven years 101,488 107,075 113,351
5 More than eleven 30,080 34,987 28,876
6 Inflation-indexed (2) 3,530 3,260 2,590
Federal agency and government-
sponsored enterprises
7 Discount notes 63,377 60,806 63,515
Coupon securities by maturity
8 Three years or less 11,265 10,915 16,133
9 More than three years but less
than or equal to six years 8,033 9,985 12,146
10 More than six years but less
than or equal to eleven years 7,548 10,413 12,598
11 More than eleven years 1,291 1,614 1,858
12 Mortgage-backed 234,479 286,827 242,740
Corporate securities
13 One year or less 127,082 120,172 137,740
14 More than one year 22,000 20,712 21,941
By type of counterparty
With interdealer broker
15 U.S. Treasury 231,733 221,425 211,806
16 Federal agency and government-
sponsored enterprises 8,252 11,461 14,664
17 Mortgage-backed 61,846 74,856 68,994
18 Corporate 553 674 609
With other
19 U.S. Treasury 263,641 249,198 247,483
20 Federal agency and government-
sponsored enterprises 83,264 82,273 91,585
21 Mortgage-backed 172,633 211,971 173,187
22 Corporate 148,529 140,210 159,073
Item
June 25 July 2 July 9
By type of security
1 U.S. Treasury bills 49,540 55,708 45,238
Treasury coupon securities by
maturity
2 Three years or less 155,625 165,529 122,801
3 More than three but less than or
equal to six years 117,719 153,869 130,356
4 More than six but less than or
equal to eleven years 98,517 111,966 122,596
5 More than eleven 30,363 32,948 29,077
6 Inflation-indexed (2) 2,818 2,666 11,622
Federal agency and government-
sponsored enterprises
7 Discount notes 60,888 64,852 50,285
Coupon securities by maturity
8 Three years or less 13,244 12,786 9,687
9 More than three years but less
than or equal to six years 9,087 11,133 5,060
10 More than six years but less
than or equal to eleven years 7,613 5,889 5,598
11 More than eleven years 1,210 1,311 911
12 Mortgage-backed 159,775 216,071 327,320
Corporate securities
13 One year or less 157,533 165,464 126,939
14 More than one year 23,008 22,144 16,891
By type of counterparty
With interdealer broker
15 U.S. Treasury 211,037 230,978 208,710
16 Federal agency and government-
sponsored enterprises 10,267 9,131 6,695
17 Mortgage-backed 43,360 61,368 77,196
18 Corporate 469 595 372
With other
19 U.S. Treasury 243,545 291,708 252,981
20 Federal agency and government-
sponsored enterprises 81,776 86,838 64,846
21 Mortgage-backed 116,416 154,703 250,124
22 Corporate 180,073 187,012 143,458
Item
July 16 July 23 July 30
By type of security
1 U.S. Treasury bills 34,925 29,761 40,126
Treasury coupon securities by
maturity
2 Three years or less 123,842 138,491 164,430
3 More than three but less than or
equal to six years 118,553 125,366 155,688
4 More than six but less than or
equal to eleven years 125,941 120,954 152,760
5 More than eleven 28,365 26,363 36,986
6 Inflation-indexed (2) 7,639 4,498 3,707
Federal agency and government-
sponsored enterprises
7 Discount notes 52,219 48,328 52,289
Coupon securities by maturity
8 Three years or less 11,484 12,064 13,121
9 More than three years but less
than or equal to six years 5,751 13,035 7,761
10 More than six years but less
than or equal to eleven years 8,417 6,383 6,657
11 More than eleven years 1,042 981 1,039
12 Mortgage-backed 271,103 202,235 199,351
Corporate securities
13 One year or less 134,641 124,979 118,830
14 More than one year 21,652 22,150 20,597
By type of counterparty
With interdealer broker
15 U.S. Treasury 201,354 204,364 251,770
16 Federal agency and government-
sponsored enterprises 7,829 9,099 8,357
17 Mortgage-backed 66,859 61,978 55,577
18 Corporate 505 630 776
With other
19 U.S. Treasury 237,910 241,070 301,927
20 Federal agency and government-
sponsored enterprises 71,084 71,693 72,511
21 Mortgage-backed 204,244 140,257 143,774
22 Corporate 155,789 146,500 138,652
NOTE: Major changes in the report form filed by primary dealers
induced a break in the dealer data series as of week ending July
4, 2001. Current weekly data may be found at the Federal Reserve
Bank of New York web site (http:www.newyorkfed.org/pihome/statistics)
under the Primary Dealer heading.
(1.) The figures represent purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Bank of New York. Outright transactions include all U.S. government,
federal agency, government-sponsored enterprise, mortgage-backed,
and corporate securities scheduled for immediate and forward delivery,
as well as all U.S. government securities traded on a when-issued
basis between the announcement and issue date. Data do not include
transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the
week.
(2.) Outright Treasury inflation-indexed securities (TIIS) transactions
are reported at principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
for inflation) times the price times the index ratio.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2003
Item, by type of security
Apr.. May June
Net outright positions (2)
1 U.S. Treasury bills 21,878 10,092 9,882
Treasury coupon securities by
maturity
2 Three years or less -15,269 -12,954 -11,958
3 More than three years but less
than or equal to six years -46,833 -42,497 -45,702
4 More than six but less than
or equal to eleven years -12,234 -8,149 -11,295
5 More than eleven 5,442 3,180 680
6 Inflation-indexed 1,544 -127 854
Federal agency and government-
sponsored enterprises
7 Discount notes 55,454 62,728 61,088
Coupon securities, by maturity
8 Three years or less 19,419 20,165 17,246
9 More than three years but
less than or equal to six 3,770 4,807 2,400
years
10 More than six but less than
or equal to eleven years 3,328 3,875 4,057
11 More than eleven 2,351 2,366 2,748
12 Mortgage-backed 46,326 42,381 55,930
Corporate securities
13 One year or less 29,461 25,518 33,054
14 More than one year 48,800 58,309 58,821
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 656,984 694,287 739,231
16 Term 791,597 881,597 944,185
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 152,545 152,445 151,751
18 Term 229,326 243,263 254,853
Mortgage-backed securities
19 Overnight and continuing 40,105 42,935 36,223
20 Term 244,815 247,674 249,278
Corporate securities
21 Overnight and continuing 66,811 68,094 71,329
22 Term 25,873 27,031 28,474
MEMO
Reverse repurchase agreements
23 Overnight and continuing 461,743 482,620 510,880
24 Term 1,117,241 1,220,752 1,297,890
Securities in, U.S. Treasury
25 Overnight and continuing 621,314 674,535 711,222
26 Term 729,460 801,453 849,957
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 282,367 297,432 295,952
28 Term 175,326 186,301 195,981
Mortgage-backed securities
29 Overnight and continuing 334,764 357,464 356,571
30 Term 152,637 147,596 141,975
Corporate securities
31 Overnight and continuing 143,957 146,125 156,474
32 Term 22,754 25,505 26,437
MEMO
Repurchase agreements
33 Overnight and continuing 1,187,404 1,262,067 1,305,120
34 Term 1,027,811 1,106,335 1,163,284
2003, week ending
Item, by type of security
June 4 June 11 June 18
Net outright positions (2)
1 U.S. Treasury bills 31,880 17,006 4,854
Treasury coupon securities by
maturity
2 Three years or less -11,112 -14,046 -17,261
3 More than three years but less
than or equal to six
years -40,696 -41,486 -43,518
4 More than six but less than
or equal to eleven years -3,930 -8,532 -10,346
5 More than eleven 84 -671 1,720
6 Inflation-indexed 175 810 1,181
Federal agency and government-
sponsored enterprises
7 Discount notes 64,700 56,803 60,626
Coupon securities, by maturity
8 Three years or less 18,674 18,237 15,967
9 More than three years but
less than or equal to six 4,091 4,109 1,179
years
10 More than six but less than
or equal to eleven years 1,980 4,874 4,049
11 More than eleven 2,314 1,496 2,925
12 Mortgage-backed 52,140 47,767 61,720
Corporate securities
13 One year or less 25,084 35,805 36,639
14 More than one year 58,257 58,531 60,765
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 715,409 736,562 730,168
16 Term 915,202 980,859 985,588
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 156,862 150,840 154,483
18 Term 247,768 261,047 261,788
Mortgage-backed securities
19 Overnight and continuing 31,609 42,939 35,100
20 Term 246,398 247,475 258,791
Corporate securities
21 Overnight and continuing 69,675 70,022 71,200
22 Term 28,293 28,419 28,693
MEMO
Reverse repurchase agreements
23 Overnight and continuing 506,154 522,296 505,687
24 Term 1,253,396 1,333,776 1,351,985
Securities in, U.S. Treasury
25 Overnight and continuing 699,293 715,513 713,018
26 Term 820,373 896,211 877,742
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 307,065 298,459 297,807
28 Term 193,388 196,465 199,129
Mortgage-backed securities
29 Overnight and continuing 333,580 342,752 373,056
30 Term 139,780 137,057 156,962
Corporate securities
31 Overnight and continuing 140,883 155,048 161,359
32 Term 28,420 27,824 27,057
MEMO
Repurchase agreements
33 Overnight and continuing 1,266,858 1,297,897 1,334,381
34 Term 1,127,615 1,202,635 1,208,707
2003, week ending
Item, by type of security
June 25 July 2 July 9
Net outright positions (2)
1 U.S. Treasury bills 2,788 -721 7,986
Treasury coupon securities by
maturity
2 Three years or less -4,987 -12,044 -20,746
3 More than three years but less
than or equal to six years -50,122 -52,478 -50,779
4 More than six but less than
or equal to eleven years -11,614 -21,939 -18,959
5 More than eleven -5 2,551 4,440
6 Inflation-indexed 965 848 1,524
Federal agency and government-
sponsored enterprises
7 Discount notes 61,098 64,831 67,610
Coupon securities, by maturity
8 Three years or less 16,401 17,688 17,293
9 More than three years but
less than or equal to six 1,157 2,104 3,842
years
10 More than six but less than
or equal to eleven years 4,109 4,516 4,648
11 More than eleven 2,962 2,898 2,454
12 Mortgage-backed 53,673 65,442 61,991
Corporate securities
13 One year or less 31,697 32,457 22,859
14 More than one year 59,318 56,260 52,296
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 760,103 745,495 734,326
16 Term 963,466 831,069 871,586
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 151,836 144,996 152,938
18 Term 256,753 239,480 244,501
Mortgage-backed securities
19 Overnight and continuing 36,291 31,989 41,047
20 Term 244,765 247,109 250,192
Corporate securities
21 Overnight and continuing 71,818 73,975 75,059
22 Term 27,409 29,879 30,474
MEMO
Reverse repurchase agreements
23 Overnight and continuing 527,342 482,902 483,051
24 Term 1,319,089 1,177,830 1,226,445
Securities in, U.S. Treasury
25 Overnight and continuing 726,439 690,942 688,981
26 Term 872,015 1,177,830 771,753
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 291,220 287,582 298,345
28 Term 201,495 185,252 192,686
Mortgage-backed securities
29 Overnight and continuing 369,984 352,456 348,669
30 Term 135,959 138,058 146,109
Corporate securities
31 Overnight and continuing 157,083 163,253 154,736
32 Term 25,067 23,959 25,444
MEMO
Repurchase agreements
33 Overnight and continuing 1,334,188 1,264,178 1,261,107
34 Term 1,183,130 1,045,353 1,090,292
2003, week ending
Item, by type of security
July 16 July 23
Net outright positions (2)
1 U.S. Treasury bills 6,445 17,917
Treasury coupon securities by
maturity
2 Three years or less -26,386 -13,692
3 More than three years but less
than or equal to six years -53,573 -58,291
4 More than six but less than
or equal to eleven years -18,430 -18,715
5 More than eleven 4,797 4,738
6 Inflation-indexed 1,134 -93
Federal agency and government-
sponsored enterprises
7 Discount notes 66,300 57,106
Coupon securities, by maturity
8 Three years or less 17,562 13,110
9 More than three years but
less than or equal to six 4,364 4,727
years
10 More than six but less than
or equal to eleven years 7,256 5,834
11 More than eleven 2,340 2,143
12 Mortgage-backed 62,210 61,753
Corporate securities
13 One year or less 36,888 36,612
14 More than one year 55,365 51,260
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 734,833 711,835
16 Term 922,611 978,365
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 151,908 145,151
18 Term 248,488 248,088
Mortgage-backed securities
19 Overnight and continuing 35,677 38,519
20 Term 247,779 261,280
Corporate securities
21 Overnight and continuing 76,486 76,948
22 Term 30,264 29,930
MEMO
Reverse repurchase agreements
23 Overnight and continuing 476,612 457,947
24 Term 1,271,003 1,332,263
Securities in, U.S. Treasury
25 Overnight and continuing 695,254 673,657
26 Term 813,745 868,056
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 289,818 283,984
28 Term 195,836 188,841
Mortgage-backed securities
29 Overnight and continuing 390,005 391,859
30 Term 158,812 173,779
Corporate securities
31 Overnight and continuing 163,731 158,566
32 Term 27,989 28,007
MEMO
Repurchase agreements
33 Overnight and continuing 1,318,921 1,275,855
34 Term 1,149,272 1,210,387
NOTE: Major changes in the report form filed by primary dealers
included a break in many series as of the week ending July
4, 2001. Current weekly data may be found at the Federal
Reserve Bank of New York web site (http:www.newyorkfed.org/
pihome/statistics) under the Primary Dealer heading.
(1.) Data for positions and financing are obtained from reports
submitted to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of
primary dealers. Weekly figures are close-of-business Wednesday
data. Positions for calendar days of the report week are assumed
to be constant. Monthly averages are based on the number of
calendar days in the month.
(2.) Net outright positions include all U.S. government, federal
agency, government-sponsored enterprise, mortgage-backed, and
corporate securities scheduled for immediate and forward delivery,
as well as U.S. government securities traded on a when-issued
basis between the announcement and issue date.
(3.) Figures cover financing U.S. government, federal agency,
government-sponsored enterprise, mortgage-backed, and corporate
securities. Financing transactions for Treasury inflation-indexed
securities (TIIS) are reported in actual funds paid or received,
except for pledged securities. TIIS that are issued as pledged
securities are reported at par value, which is the value of the
security at original issuance (unadjusted for inflation).
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency
1999 2000 2001
1 Federal and federally 1,616,492 1,851,632 2,121,057
sponsored agencies
2 Federal agencies 26,376 25,666 276
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing 126 255 26,828
Administration (4)
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 26,370 25,660 270
9 United States Railway (6) n.a. n.a. n.a.
Association
10 Federally sponsored 1,590,116 1,825,966 2,120,781
agencies (7)
11 Federal Home Loan Banks 529,005 594,404 623,740
12 Federal Home Loan Mortgage 360,711 426,899 565,071
Corporation
13 Federal National Mortgage 547,619 642,700 763,500
Association
14 Farm Credit Banks (8) 68,883 74,181 76,673
15 Student Loan Marketing 41,988 45,375 48,350
Association (9)
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial 1,261 1,261 1,261
Assistance Corporation (11)
18 Resolution Funding 29,996 29,996 29,996
Corporation (12)
MEMO
19 Federal Financing Bank 42,152 40,575 39,096
debt (13)
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 n.a. n.a. n.a.
Association
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United Slates Railway n.a. n.a. n.a.
Association (6)
Other lending (14)
25 Farmers Home Administration 6,665 5,275 n.a.
26 Rural Electrification 14,085 13,126 13,876
Administration
27 Other 21,402 22,174 25,220
Agency 2003 2003
2002 Jan. Feb.
1 Federal and federally 2,351,039 n.a. n.a.
sponsored agencies
2 Federal agencies 2 26,929 26,408
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing 26,828 354 152
Administration (4)
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 270 26,923 26,402
9 United States Railway (6) n.a. n.a. n.a.
Association
10 Federally sponsored 2,351,037 n.a. n.a.
agencies (7)
11 Federal Home Loan Banks 674,841 672,304 684,495
12 Federal Home Loan Mortgage 648,894 n.a. n.a.
Corporation
13 Federal National Mortgage 851,000 860,300 871,000
Association
14 Farm Credit Banks (8) 85,088 85,206 86,045
15 Student Loan Marketing 47,900 50,700 50,900
Association (9)
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial 1,261 1,261 1,261
Assistance Corporation (11)
18 Resolution Funding 29,996 29,996 29,996
Corporation (12)
MEMO
19 Federal Financing Bank 37,017 35,992 35,794
debt (13)
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 n.a. n.a. n.a.
Association
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway n.a. n.a. n.a.
Association (6)
Other lending (14)
25 Farmers Home Administration n.a. n.a. n.a.
26 Rural Electrification 14,489 14,714 14,750
Administration
27 Other 22,528 21,278 21,044
Agency 2003 2003 2003
Mar. Apr. May
1 Federal and federally n.a. n.a. n.a.
sponsored agencies
2 Federal agencies 26,886 26,450 26,500
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing 166 195 218
Administration (4)
6 Government National Mortgage
Association certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley Authority 26,880 26,444 26,494
9 United States Railway (6) n.a. n.a. n.a.
Association
10 Federally sponsored n.a. n.a. n.a.
agencies (7)
11 Federal Home Loan Banks 687,573 706,215 717,900
12 Federal Home Loan Mortgage n.a. n.a. n.a.
Corporation
13 Federal National Mortgage 873,900 871,500 876,200
Association
14 Farm Credit Banks (8) 86,802 87,591 89,007
15 Student Loan Marketing 49,100 51,200 542,011
Association (9)
16 Financing Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial 1,261 1,261 1,261
Assistance Corporation (11)
18 Resolution Funding 29,996 29,996 29,996
Corporation (12)
MEMO
19 Federal Financing Bank 35,780 35,808 36,383
debt (13)
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 n.a. n.a. n.a.
Association
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United Slates Railway n.a. n.a. n.a.
Association (6)
Other lending (14)
25 Farmers Home Administration n.a. n.a. n.a.
26 Rural Electrification 14,750 14,760 14,793
Administration
27 Other 21,030 21,048 21,590
(1.) Consists of mortgages assumed by the Defense Department between
1957 and 1963 under family housing and homeowners assistance programs.
(2.) Includes participation certificates reclassified as debt beginning
Oct. 1, 1976.
(3.) On-budget since Sept. 30, 1976.
(4.) Consists of debentures issued in payment of Federal Housing
Administration insurance
claims. Once issued, these securities may be sold privately on the
securities market.
(5.) Certificates of participation issued before fiscal year 1969 by the
Government National
Mortgage Association acting as trustee for the Farmers Home
Administration: the Department of Health, Education, and Welfare: the
Department of Housing and Urban Development; the Small Business
Administration; and the Veterans Administration.
(6.) Off-budget.
(7.) Includes outstanding noncontingent liabilities: notes. bonds, and
debentures. Includes Federal Agriculture Mortgage Corporation;
therefore, details do not sum to total. Some data are estimated.
(8.) Excludes borrowing by the Farm Credit Financial Assistance
Corporation, Which is shown on line 17.
(9.) Before late 1982, the association obtained financing through the
Federal Financing Bank (FFB). Borrowing excludes that obtained
from the FFB, which is shown on line 22.
(10.) The Financing Corporation, established in August 1987 to
recapitalize the Federal Savings and Loan Insurance Corporation,
undertook its first borrowing in October 1987.
(11.) The Farm Credit Financial Assistance Corporation. established
in January 1988 to provide assistance to the Farm Credit System,
undertook its first borrowing in July 1988.
(12.) The Resolution Funding Corporation, established by the Financial
Institutions Reform, Recovery. and Enforcement Act of 1989. undertook
its first borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to
purchase or sell obligations issued, sold, or guaranteed by other
federal agencies. Because FFB incurs debt solely for the purpose
of lending to other agencies, its debt is not included in the main
portion of the table to avoid double counting.
(14.) Includes FFB purchases of agency assets and guaranteed loans;
the latter are loans guaranteed by numerous agencies, with the
amounts guaranteed by any one agency generally being small.
The Farmers Home Administration entry consists exclusively of
agency assets, whereas the Rural Electrification Administration
entry consists of both agency assets and guaranteed loans.
1.45 NEW SECURITY ISSUES State and Local Governments
Millions of dollars
Type of issue or issuer,
or use
2000 2001 2002
1 All issues, new and 180,403 292,027 364,020 (r)
refunding (1)
By type of issue
2 General obligation 64,475 118,554 145,323
3 Revenue 115,928 170,047 214,788
By type of issuer
4 State 19,944 30,099 33,931
5 Special district or 121,185 197,462 259,070
statutory authority (2)
6 Municipality, county, or 39,273 61,040 67,121
township
7 Issues for new capital 154,257 200,363 243,266 (r)
By use of proceeds
8 Education 38,665 50,054 57,894
9 Transportation 19,730 21,411 22,093
10 Utilities and conservation 11,917 21,917 33,404
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 7,122 6,607 7,227
13 Other purposes 47,309 55,733 73,033
2002 2003 2003
Dec Jan Feb
1 All issues, new and 27,418 27,138 (r) 30,100
refunding (1)
By type of issue
2 General obligation 8,431 8,112 12,759
3 Revenue 18,961 17,049 17,341
By type of issuer
4 State 1,670 1,927 3,654
5 Special district or 20,151 17,979 20,785 (r)
statutory authority (2)
6 Municipality, county, or 5,570 5,290 5,661 (r)
township
7 Issues for new capital 19,754 18,805 20,274
By use of proceeds
8 Education 5,292 4,823 7,065
9 Transportation 1,060 1,417 1,625
10 Utilities and conservation 2,031 2,196 176
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 796 422 1,084
13 Other purposes 4,992 7,400 7,178
Type of issue or issuer, or use 2003 2003 2003
Mar. (r) Apr. (r) May (r)
1 All issues, new and 27,908 34,840 34,773
refunding (1)
By type of issue
2 General obligation 9,721 14,794 11,978
3 Revenue 18,187 20,046 22,796
By type of issuer
4 State 1,277 5,521 2,818
5 Special district or 19,603 23,850 21,653
statutory authority (2)
6 Municipality, county, or 7,028 5,469 10,303
township
7 Issues for new capital 15,922 24,670 19,993
By use of proceeds
8 Education 5,336 7,580 6,056
9 Transportation 1,233 3,479 1,891
10 Utilities and conservation 593 821 1,008
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 1,606 1,816 3,103
13 Other purposes 3,722 8,404 5,595
Type of issue or issuer, or use 2003 2003
June (r) July
1 All issues, new and 47,388 32,807
refunding (1)
By type of issue
2 General obligation 23,752 12,326
3 Revenue 23,636 20,480
By type of issuer
4 State 14,411 3,270
5 Special district or 25,467 21,934
statutory authority (2)
6 Municipality, county, or 7,510 7,603
township
7 Issues for new capital 35,813 21,401
By use of proceeds
8 Education 5,996 5,763
9 Transportation 2,048 1,699
10 Utilities and conservation 2,016 359
11 Social welfare n.a. n.a.
12 Industrial aid 1,773 2,426
13 Other purposes 19,862 6,697
(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 US Corporations
Millions of dollars
Type of issue, offering,
issuer 2000 2001 2002
1 All issues (1) 1,079,727 1,541,821 1,429,298
2 Bonds (2) 944,810 1,413,267 1,318,863
By type of offering
3 Sold in the United States 822,012 1,356,879 1,232,618
4 Sold abroad 122,798 56,389 86,246
MEMO
5 Private placements, domestic 18,370 16,385 16,224
By industry group
6 Nonfinancial 258,840 459,560 282,484
7 Financial 686,006 953,707 1,036,379
8 Stocks (3) 311,941 230,632 170,673
By type of offering
9 Public 134,917 128,554 110,435
10 Private placement (4) 177,024 102,078 60,238
By industry group
11 Nonfinancial 118,369 77,577 62,115
12 Financial 16,548 50,977 48,320
Type of issue, offering,
issuer 2002 2002 2003
Nov. Dec. Jan.
1 All issues (1) 119,659 127,061 127,304
2 Bonds (2) 109,726 120,183 120,177
By type of offering
3 Sold in the United States 104,112 114,332 113,951
4 Sold abroad 5,614 5,851 6,226
MEMO
5 Private placements, domestic 3,525 5,060 4,700
By industry group
6 Nonfinancial 22,029 20,751 28,461
7 Financial 87,697 99,433 91,716
8 Stocks (3) 9,933 6,878 7,127
By type of offering
9 Public 9,933 6,878 7,127
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,533 4,154 3,793
12 Financial 5,400 2,724 3,334
Type of issue, offering,
issuer 2003 2003 2003
Feb. Mar. Apr.
1 All issues (1) 134,957 155,821 125,223
2 Bonds (2) 127,818 149,928 116,861
By type of offering
3 Sold in the United States 118,567 144,315 114,277
4 Sold abroad 9,250 5,613 2,585
MEMO
5 Private placements, domestic 0 0 0
By industry group
6 Nonfinancial 26,991 27,514 22,153
7 Financial 100,826 122,414 94,708
8 Stocks (3) 7,139 5,893 8,362
By type of offering
9 Public 7,139 5,893 8,362
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 2,679 1,053 1,592
12 Financial 4,460 4,840 6,770
Type of issue, offering,
issuer 2003 2003
May June
1 All issues (1) 170,003 179,615
2 Bonds (2) 161,265 163,726
By type of offering
3 Sold in the United States 149,437 147,835
4 Sold abroad 11,828 15,890
MEMO
5 Private placements, domestic 3,258 7,647
By industry group
6 Nonfinancial 48,353 52,139
7 Financial 112,912 111,587
8 Stocks (3) 8,738 15,889
By type of offering
9 Public 8,738 15,890
10 Private placement (4) n.a. n.a.
By industry group
11 Nonfinancial 3,075 4,727
12 Financial 5,663 11,162
(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, Yankee bonds, and private
placements listed. Stock data include ownership securities issued by
limited partnerships.
(2.) Monthly data include 144 (a) offerings.
(3.) Monthly data cover only public offerings.
(4.) Data for private placements are not available at a monthly
frequency.
SOURCE. Securities Data Company and the Board of Governors of the
Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets (1)
Millions of dollars
Item 2001 2002 2002 2003
Dec. Jan.
1 Sales or own 1,806,474 1,825,890 134,383 152,647
shares (2)
2 Redemptions 1,677,266 1,702,657 135,213 138,951
of own shares
3 Net sales (3) 129,208 123,233 -830 13,696
4 Assets (4) 4,689,624 4,119,322 4,119,322 4,060,568
5 Cash (5) 21,920 208,479 208,479 212,792
6 Other 4,470,004 3,910,843 3,910,843 3,847,776
Item 2003 2003 2003
Feb. Mar. Apr.
1 Sales or own 122,321 140,643 141,465
shares (2)
2 Redemptions 113,643 129,337 112,109
of own shares
3 Net sales (3) 8,678 11,306 29,356
4 Assets (4) 4,031,818 4,059,934 4,327,560
5 Cash (5) 199,546 214,146 230,032
6 Other 3,832,272 3,845,788 4,097,528
Item
May June (r) July
1 Sales or own 142,688 157,773 154,333
shares (2)
2 Redemptions 118,794 130,024 140,261
of own shares
3 Net sales (3) 23,894 27,749 14,072
4 Assets (4) 4,563,023 4,653,085 4,714,195
5 Cash (5) 232,836 236,547 218,148
6 Other 4,330,187 4,416,538 4,496,047
(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 US 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
offering of securities.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities (1)
Billions of dollars, end of period; not seasonally adjusted
Account 2000 2001 2002 2001
Q4
ASSETS
1 Accounts 958.7 948.3 945.4 948.3
receivable,
gross (2)
2 Consumer 328.0 340.1 315.6 340.1
3 Business 458.4 447.0 455.3 447.0
4 Real estate 172.3 161.3 174.5 161.3
5 LESS: 69.7 60.6 57.0 60.6
Reserves for
unearned income
6 Reserves 16.7 21.0 23.8 21.0
for losses
7 Accounts 872.3 866.7 864.5 866.7
receivable, net
8 All other 461.5 523.4 584.7 523.4
9 Total assets 1,333.7 1,390.1 1,449.3 1,390.1
LIABILITIES AND
CAPITAL
10 Bank loans 35.9 50.8 48.0 50.8
11 Commercial 238.8 158.6 141.5 158.6
paper
Debt
12 Owed to 102.5 99.2 88.2 99.2
parent
13 Not 502.2 567.4 624.9 567.4
elsewhere
classified
14 All other 301.8 325.5 339.0 325.5
liabilities
15 Capital 152.5 188.6 207.6 188.6
surplus, and
undivided
profits
16 Total 1,333.7 1,390.1 1449.3 1,390.1
liabilities
and capital
Account 2002 2002 2002
Q1 Q2 Q3
ASSETS
1 Accounts 93.0 941.9 945.6
receivable,
gross (2)
2 Consumer 329.8 332.0 334.5
3 Business 443.0 449.4 445.5
4 Real estate 157.2 160.5 165.5
5 LESS: 59.5 58.5 58.0
Reserves for
unearned income
6 Reserves for 21.5 21.6 22.0
losses
7 Accounts 849.0 861.9 865.6
receivable, net
8 All other 515.2 530.6 558.0
9 Total assets 1,364.2 1,392.5 1,423.6
LIABILITIES
AND CAPITAL
10 Bank loans 49.4 56.9 74.9
11 Commercial 13.7 130.8 143.1
paper
Debt
12 Owed to 82.6 83.3 82.9
parent
13 Not 574.4 597.2 584.9
elsewhere
classified
14 All other 329.1 331.5 343.4
liabilities
15 Capital 191.7 191.9 194.5
surplus, and
undivided
profits
16 Total 1,364.2 1,392.5 1,423.6
liabilities
and capital
Account 2002 2003 2003
Q4 Q1 (r) Q2
ASSETS
1 Accounts 945.4 934.9 947.9
receivable,
gross (2)
2 Consumer 315.6 307.1 308.6
3 Business 455.3 453.9 455.8
4 Real estate 174.5 173.9 183.4
5 LESS: 57.0 54.2 53.8
Reserves for
unearned income
6 Reserves for 23.8 24.0 24.5
losses
7 Accounts 864.5 856.7 869.6
receivable, net
8 All other 584.7 610.9 655.9
9 Total assets 1,449.3 1,467.7 1,525.5
LIABILITIES
AND CAPITAL
10 Bank loans 48.0 47.3 53.2
11 Commercial 141.5 127.3 145.3
paper
Debt
12 Owed to 88.2 87.7 96.6
parent
13 Not 624.9 639.1 657.9
elsewhere
classified
14 All other 339.0 344.4 359.1
liabilities
15 Capital 207.6 221.9 213.5
surplus, and
undivided
profits
16 Total 1,443.3 1,467.7 1,525.5
liabilities
and capital
(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
2000 2001 2002
Seasonally adjusted
1 Total 1,185.6 1,246.6 1,270.5
2 Consumer 464.4 513.3 513.1
3 Real estate 198.9 207.7 216.5
4 Business 522.3 525.6 540.9
Not seasonally adjusted
5 Total 1,192.2 1,253.7 1,277.8
6 Consumer 468.3 518.1 518.4
7 Motor vehicle loans 141.6 173.9 160.2
8 Motor vehicle leases 108.2 103.5 83.3
9 Revolving (2) 37.6 31.5 38.9
10 Other (3) 40.7 31.1 33.1
Securitized assets (4)
11 Motor vehicle loans 97.1 131.9 151.9
12 Motor vehicle leases 6.6 6.8 5.7
13 Revolving 19.6 25.0 31.1
14 Other 17.1 14.3 14.0
15 Real estate 198.9 207.7 216.5
16 One- to four-family 130.6 120.1 135.0
17 Other 41.7 41.2 39.5
Securitized real estate
assets (4)
18 One- to four-family 24.7 40.7 39.7 (r)
19 Other 1.9 5.7 2.2
20 Business 525.0 527.9 543.0
21 Motor vehicles 75.5 54.0 60.7
22 Retail loans 18.3 16.1 15.4
23 Wholesale loans (5) 39.7 20.3 29.3
24 Leases 17.6 17.6 16.0
25 Equipment 283.5 289.4 292.1
26 Loans 70.2 77.8 83.3
27 Leases 213.3 211.6 208.8
28 Other business 99.4 103.5 102.5
receivables (6)
Securitized assets (4)
29 Motor vehicles 37.8 50.1 50.2
30 Retail loans 3.2 5.1 2.4 (r)
31 Wholesale loans 32.5 42.5 45.9 (r)
32 Leases 2.2 2.5 1.9 (r)
33 Equipment 23.1 23.2 20.2
34 Loans 15.5 16.4 13.0 (r)
35 Leases 7.6 6.8 7.2
36 Other business 5.6 7.7 17.4 (r)
receivables (6)
Type of credit 2003 2003 2003
Jan. Feb. Mar.
Seasonally adjusted
1 Total 1,274.4 1,268.0 1,275.0
2 Consumer 517.3 510.6 513.6
3 Real estate 215.4 215.6 215.4
4 Business 541.8 541.8 546.0
Not seasonally adjusted
5 Total 1,277.0 1,268.3 1,278.3
6 Consumer 518.5 510.8 510.2
7 Motor vehicle loans 160.2 162.3 156.0
8 Motor vehicle leases 81.9 80.3 81.8
9 Revolving (2) 38.7 37.3 36.4
10 Others (3) 33.1 32.6 32.9
Securitized assets (4)
11 Motor vehicle loans 154.3 148.7 152.3
12 Motor vehicle leases 5.7 5.6 6.2
13 Revolving 30.4 30.1 30.7
14 Other 14.2 13.8 13.9
15 Real estate 215.4 215.6 215.4
16 One- to four-family 134.1 134.3 133.9
17 Other 39.6 39.9 40.1
Securitized real estate
assets (4)
18 One- to four-family 39.4 (r) 39.1 (r) 39.2 (r)
19 Other 2.2 2.2 2.2
20 Business 543.1 541.9 552.8
21 Motor vehicles 58.6 60.3 65.3
22 Retail loans 15.1 14.8 16.3
23 Wholesale loans (5) 27.5 30.5 34.0
24 Leases 15.9 15.0 15.0
25 Equipment 292.0 288.9 287.5
26 Loans 80.1 80.3 78.0
27 Leases 211.8 208.6 209.5
28 Other business 104.7 104.4 101.1
receivables (6)
Securitized assets (4)
29 Motor vehicles 50.3 50.9 53.1
30 Retail loans 2.4 (r) 2.3 (r) 2.2 (r)
31 Wholesale loans 46.1 (r) 46.8 (r) 48.6 (r)
32 Leases 1.8 (r) 1.8 (r) 2.2 (r)
33 Equipment 20.1 19.4 21.9
34 Loans 12.9 12.3 (r) 12.2 (r)
35 Leases 7.2 7.1 (r) 9.7 (r)
36 Other business 17.3 18.0 (r) 23.9 (r)
receivables (6)
Type of credit 2003 2003 2003
Apr. (r) May (r) June
Seasonally adjusted
1 Total 1,281.7 1,287.9 1,276.9
2 Consumer 516.7 514.4 507.7
3 Real estate 220.4 224.6 224.1
4 Business 544.6 548.9 545.1
Not seasonally adjusted
5 Total 1,284.9 1,288.3 1,284.0
6 Consumer 513.1 510.0 507.1
7 Motor vehicle loans 160.6 174.3 177.9
8 Motor vehicle leases 81.2 79.0 76.7
9 Revolving (2) 38.3 35.9 37.3
10 Others (3) 33.1 32.0 31.3
Securitized assets (4)
11 Motor vehicle loans 149.7 138.8 135.2
12 Motor vehicle leases 6.1 6.0 6.0
13 Revolving 30.6 30.7 29.5
14 Other 13.6 13.3 13.2
15 Real estate 220.4 224.6 224.1
16 One- to four-family 138.8 143.0 142.5
17 Other 40.4 40.7 40.9
Securitized real estate
assets (4)
18 One- to four-family 38.9 38.6 38.4
19 Other 2.2 2.2 2.2
20 Business 551.4 553.7 552.9
21 Motor vehicles 64.1 68.0 69.9
22 Retail loans 16.8 17.1 17.2
23 Wholesale loans (5) 34.5 36.1 38.4
24 Leases 12.8 14.8 14.2
25 Equipment 286.0 284.5 283.4
26 Loans 79.0 77.6 77.5
27 Leases 207.0 207.0 205.9
28 Other business 103.0 103.1 102.6
receivables (6)
Securitized assets (4)
29 Motor vehicles 53.1 52.2 50.0
30 Retail loans 2.2 2.2 2.2
31 Wholesale loans 48.6 47.8 45.6
32 Leases 2.2 2.2 2.1
33 Equipment 21.4 21.6 23.5
34 Loans 11.8 12.0 12.9
35 Leases 9.6 9.6 10.6
36 Other business 23.9 24.2 23.6
receivables (6)
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 from cover.
(1.) Owned receivables are those carried on the balance sheet of the
institution. Managed receivables are outstanding balances of pools
upon which securities have been issued; these balances are no longer
carried on the balance sheets of the loan originator. Data are shown
before deductions for unearned income and losses. Components may not
sum to totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans to
purchase other types of consumer goods, such as appliances, apparel,
boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets of
the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans used
primarily for business or farm purposes; and wholesale and lease paper
for mobile homes, campers, and travel trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
Item 2000 2001 2002 2003
Jan.
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands 234.5 245.0 261.1 278.9
of dollars)
2 Amount of loan (thousands 177.0 184.2 197.0 214.0
of dollars)
3 Loan-to-price ratio 77.4 77.3 77.8 79.3
(percent)
4 Maturity (years) 29.2 28.8 28.9 28.9
5 Fees and charges (percent .70 .67 .62 .79
of loan amount) (2)
Yield (percent per year)
6 Contract rate (1) 7.41 6.90 6.35 6.00
7 Effective rate (1,3) 7.52 7.00 6.44 6.12
8 Contract rate (HUD n.a. n.a. n.a. n.a.
series) (4)
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section n.a. n.a. n.a. n.a.
203) (5)
10 GNMA securities (6) 7.57 6.36 5.81 5.18
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings
(end of period)
11 Total 610,122 707,015 790,800 810,609
12 FHA/VA insured 61,539 n.a. n.a. n.a.
13 Conventional 548,583 n.a. n.a. n.a.
14 Mortgage transactions 154,231 270,384 370,641 57,281
purchased (during period)
Mortgage commitments
(during period)
15 Issued (7) 163,689 304,084 400,327 27,814
16 To sell (8) 11,786 7,586 12,268 2,717
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end
of period)(8)
17 Total 385,693 491,719 568,173 568,494
18 FHA/VA insured 3,332 3,506 4,573 4,256
19 Conventional 382,361 488,213 563,600 564,238
Mortgage transactions
(during period)
20 Purchases 174,043 n.a. n.a. n.a.
21 Sales 166,901 389,611 547,046 48,169
22 Mortgage commitments 169,231 417,434 620,981 55,057
contracted (during period) (9)
Item 2003 2003 2003
Feb. Mar. Apr.
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands 235.1 252.9 266.0
of dollars)
2 Amount of loan (thousands 179.3 184.2 205.0
of dollars)
3 Loan-to-price ratio 78.0 76.2 78.8
(percent)
4 Maturity (years) 28.3 28.2 29.0
5 Fees and charges (percent 0.37 0.40 0.62
of loan amount) (2)
Yield (percent per year)
6 Contract rate (1) 5.76 5.69 5.83
7 Effective rate (1,3) 5.82 5.75 5.92
8 Contract rate (HUD n.a. n.a. n.a.
series) (4)
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section n.a. n.a. n.a.
203) (5)
10 GNMA securities (6) 5.03 4.94 4.97
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings
(end of period)
11 Total 816,747 815,964 817,894
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions 40,420 34,304 43,028
purchased (during period)
Mortgage commitments
(during period)
15 Issued (7) 52,479 42,005 42,906
16 To sell (8) 1,241 2,457 1,479
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end
of period)(8)
17 Total 561,534 569,522 568,975
18 FHA/VA insured 3,796 3,540 n.a.
19 Conventional 557,738 565,982 n.a.
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a.
21 Sales 41,831 59,065 51,737
22 Mortgage commitments 48,446 69,200 n.a.
contracted (during period) (9)
Item 2003 2003 2003
May June July
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands 275.3 283.3 283.4
of dollars)
2 Amount of loan (thousands 210.7 213.7 214.4
of dollars)
3 Loan-to-price ratio 78.7 78.0 78.2
(percent)
4 Maturity (years) 28.8 28.8 28.7
5 Fees and charges (percent 0.61 0.64 0.62
of loan amount) (2)
Yield (percent per year)
6 Contract rate (1) 5.66 5.42 5.44
7 Effective rate (1,3) 5.75 5.51 5.53
8 Contract rate (HUD n.a. n.a. n.a.
series) (4)
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section n.a. n.a. n.a.
203) (5)
10 GNMA securities (6) 4.55 4.27 5.02
Activity in secondary markets
FEDERAL NATIONAL
MORTGAGE ASSOCIATION
Mortgage holdings
(end of period)
11 Total 815,560 812,467 836,104
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions 43,749 41,182 72,447
purchased (during period)
Mortgage commitments
(during period)
15 Issued (7) 75,569 79,172 n.a.
16 To sell (8) 1,785 3,657 n.a.
FEDERAL HOME LOAN
MORTGAGE CORPORATION
Mortgage holdings (end
of period)(8)
17 Total 572,801 586,361 595,202
18 FHA/VA insured n.a. n.a. n.a.
19 Conventional n.a. n.a. n.a.
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a.
21 Sales 66,175 58,124 70,269
22 Mortgage commitments n.a. n.a. n.a.
contracted (during period) (9)
(1.) Weighted averages based on sample surveys of mortgages originated
by major institutional lender groups for purchase of newly built
homes; compiled by the Federal Housing Finance Board in cooperation
with the Federal Deposit Insurance Corporation.
(2.) Includes all fees, commissions, discounts, and "points" paid (by
the borrower or the seller) to obtain a loan.
(3.) Average effective interest rate on loans closed for purchase of
newly built homes, assuming prepayment at the end of ten years.
(4.) Average contract rate on new commitments for conventional first
mortgages; from U.S. Department of Housing and Urban Development
(HUD). Based on transactions on the first day of the subsequent month.
(5.) Average gross yield on thirty-year, minimum-downpayment first
mortgages insured by the Federal Housing Administration (FHA) for
immediate delivery in the private secondary market. Based on
transactions on first day of subsequent month.
(6.) Average net yields to investors on fully modified pass-through
securities backed by mortgages and guaranteed by the Government
National Mortgage Association (GNMA), assuming prepayment in twelve
years on pools of thirty-year mortgages insured by the Federal Housing
Administration or guaranteed by the Department of Veterans Affairs.
(7.) Does not include standby commitments issued, but includes standby
commitments converted.
(8.) Includes participation loans as well as whole loans.
(9.) Includes conventional and government-underwritten loans. The
Federal Home Loan Mortgage Corporation's mortgage commitments and
mortgage transactions include activity under mortgage securities swap
programs, whereas the corresponding data for the Federal National
Mortgage Association exclude swap activity.
1.54 MORTGAGE DEBT OUTSTANDING (1)
Millions of dollars, end of period
Type of holder and property 1999 2000
1 All holders 6,315,447 (r) 6,884,942 (r)
By type of property
2 One-to four-family residences 4,787,225 5,205,428
3 Multifamily residences 368,742 (r) 403,724 (r)
4 Nonfarm, nonresidential 1,056,516 (r) 1,166,933 (r)
5 Farm 102,964 108,858
By type of holder
6 Major financial institutions 2,394,271 2,618,969
7 Commercial banks (2) 1,495,420 1,660,054
8 One-to four-family 879,576 965,635
9 Multifamily 67,665 77,803
10 Nonfarm, nonresidential 516,333 582,577
11 Farm 31,846 34,039
12 Savings institutions (3) 668,064 722,974
13 One-to four-family 548,222 594,221
14 Multifamily 59,309 61,258
15 Nonfarm, nonresidential 60,063 66,965
16 Farm 470 529
17 Life insurance companies 230,787 235,941
18 One-to four-family 5,934 4,903
19 Multifamily 32,818 33,681
20 Nonfarm, nonresidential 179,048 183,757
21 Farm 12,987 13,600
22 Federal and related agencies 320,054 344,225
23 Government National 7 6
Mortgage Association
24 One-to four-family 7 6
25 Multifamily 0 0
26 Farmers Home 73,871 73,323
Administration (4)
27 One-to four-family 16,506 16,372
28 Multifamily 11,741 11,733
29 Nonfarm, nonresidential 41,355 41,070
30 Farm 4,268 4,148
31 Federal Housing Admin. and 3,712 3,507
Dept. of Veterans Affairs
32 One-to four-family 1,851 1,308
33 Multifamily 1,861 2,199
34 Resolution Trust Corporation 0 0
35 One-to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance 152 45
Corporation
40 One-to four-family 25 7
41 Multifamily 29 9
42 Nonfarm, nonresidential 98 29
43 Farm 0 0
44 Federal National Mortgage 149,422 155,626
Association
45 One-to four-family 141,195 144,150
46 Multifamily 8,227 11,476
47 Federal Land Banks 34,187 36,326
48 One-to four-family 2,012 2,137
49 Farm 32,175 34,189
50 Federal Home Loan Mortgage 56,676 59,240
Corporation
51 One-to four-family 44,321 42,871
52 Multifamily 12,355 16,369
53 Mortgage pools or trusts (5) 2,946,546 (r) 3,226,058 (r)
54 Government National Mortgage 582,263 611,553
Association
55 One-to four-family 565,189 592,624
56 Multifamily 17,074 18,929
57 Federal Home Loan Mortgage 749,081 822,310
Corporation
58 One-to four-family 744,619 816,602
59 Multifamily 4,462 5,708
60 Federal National Mortgage 960,883 1,057,750
Association
61 One-to four-family 924,941 1,016,398
62 Multifamily 35,942 41,352
63 Farmers Home 0 0
Administration (4)
64 One-to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 654,319 (r) 734,445 (r)
69 One-to four-family (6) 455,021 499,834
70 Multifamily 41,952 (r) 47,529 (r)
71 Nonfarm, nonresidential 157,346 (r) 187,082 (r)
72 Farm 0 0
73 Individuals and others (7) 654,576 695,691
74 One-to four-family 456,009 492,429
75 Multifamily 75,076 75,457
76 Nonfarm, nonresidental 102,274 105,453
77 Farm 21,217 22,352
2001
1 All holders 7,585,319 (r)
By type of property
2 One-to four-family residences 5,738,111
3 Multifamily residences 449,704 (r)
4 Nonfarm, nonresidential 1,281,168 (r)
5 Farm 116,336
By type of holder
6 Major financial institutions 2,791,076
7 Commercial banks (2) 1,789,819
8 One-to four-family 1,023,851
9 Multifamily 84,851
10 Nonfarm, nonresidential 645,619
11 Farm 35,498
12 Savings institutions (3) 758,236
13 One-to four-family 620,579
14 Multifamily 64,592
15 Nonfarm, nonresidential 72,534
16 Farm 531
17 Life insurance companies 243,021
18 One-to four-family 4,931
19 Multifamily 35,631
20 Nonfarm, nonresidential 188,376
21 Farm 14,083
22 Federal and related agencies 376,999
23 Government National 8
Mortgage Association
24 One-to four-family 8
25 Multifamily 0
26 Farmers Home 72,452
Administration (4)
27 One-to four-family 15,824
28 Multifamily 11,712
29 Nonfarm, nonresidential 40,965
30 Farm 3,952
31 Federal Housing Admin. and 3,290
Dept. of Veterans Affairs
32 One-to four-family 1,260
33 Multifamily 2,031
34 Resolution Trust Corporation 0
35 One-to four-family 0
36 Multifamily 0
37 Nonfarm, nonresidential 0
38 Farm 0
39 Federal Deposit Insurance 13
Corporation
40 One-to four-family 2
41 Multifamily 3
42 Nonfarm, nonresidential 8
43 Farm 0
44 Federal National Mortgage 169,908
Association
45 One-to four-family 155,060
46 Multifamily 14,848
47 Federal Land Banks 40,885
48 One-to four-family 2,406
49 Farm 38,479
50 Federal Home Loan Mortgage 62,792
Corporation
51 One-to four-family 40,309
52 Multifamily 22,483
53 Mortgage pools or trusts (5) 3,700,582 (r)
54 Government National Mortgage 591,368
Association
55 One-to four-family 569,460
56 Multifamily 21,908
57 Federal Home Loan Mortgage 948,409
Corporation
58 One-to four-family 940,933
59 Multifamily 7,476
60 Federal National Mortgage 1,290,351
Association
61 One-to four-family 1,238,125
62 Multifamily 52,226
63 Farmers Home 0
Administration (4)
64 One-to four-family 0
65 Multifamily 0
66 Nonfarm, nonresidential 0
67 Farm 0
68 Private mortgage conduits 870,454 (r)
69 One-to four-family (6) 591,200
70 Multifamily 53,537 (r)
71 Nonfarm, nonresidential 225,717 (r)
72 Farm 0
73 Individuals and others (7) 716,662 (r)
74 One-to four-family 506,669
75 Multifamily 78,252
76 Nonfarm, nonresidential 107,949
77 Farm 23,792
2002
Q1 Q2
1 All holders 7,752,374 (r) 7,967,494 (r)
By type of property
2 One-to four-family residences 5,877,230 (r) 6,049,571 (r)
3 Multifamily residences 457,381 (r) 468,374 (r)
4 Nonfarm, nonresidential 1,299,634 (r) 1,329,097 (r)
5 Farm 118,130 (r) 120,452
By type of holder
6 Major financial institutions 2,790,860 (r) 2,861,224 (r)
7 Commercial banks (2) 1,799,118 1,873,362
8 One-to four-family 1,017,001 1,070,513
9 Multifamily 86,676 90,745
10 Nonfarm, nonresidential 659,452 675,119
11 Farm 35,990 36,985
12 Savings institutions (3) 748,349 (r) 742,744 (r)
13 One-to four-family 606,662 (r) 599,377 (r)
14 Multifamily 65,192 (r) 66,016 (r)
15 Nonfarm, nonresidential 75,945 (r) 76,799 (r)
16 Farm 550 (r) 552
17 Life insurance companies 243,393 (r) 245,118 (r)
18 One-to four-family 4,938 5,162
19 Multifamily 35,671 35,818
20 Nonfarm, nonresidential 188,699 (r) 190,050 (r)
21 Farm 14,085 14,088
22 Federal and related agencies 385,027 396,091
23 Government National 8 8
Mortgage Association
24 One-to four-family 8 8
25 Multifamily 0 0
26 Farmers Home 72,362 71,970
Administration (4)
27 One-to four-family 15,665 15,273
28 Multifamily 11,707 11,692
29 Nonfarm, nonresidential 41,134 41,188
30 Farm 3,855 3,817
31 Federal Housing Admin. and 3,361 3,473
Dept. of Veterans Affair
32 One-to four-family 1,255 1,254
33 Multifamily 2,105 2,218
34 Resolution Trust Corporation 0 0
35 One-to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance 7 22
Corporation
40 One-to four-family 1 4
41 Multifamily 1 4
42 Nonfarm, nonresidential 4 14
43 Farm 0 0
44 Federal National Mortgage 176,051 180,491
Association
45 One-to four-family 160,300 164,038
46 Multifamily 15,751 16,453
47 Federal Land Banks 41,981 42,951
48 One-to four-family 2,470 2,527
49 Farm 39,511 40,424
50 Federal Home Loan Mortgage 59,624 58,872
Corporation
51 One-to four-family 35,955 34,062
52 Multifamily 23,669 24,810
53 Mortgage pools or trusts (5) 3,854,494 (r) 3,971,458 (r)
54 Government National Mortgage 587,204 583,745
Association
55 One-to four-family 564,108 559,549
56 Multifamily 23,096 24,196
57 Federal Home Loan Mortgage 1,012,478 1,053,261
Corporation
58 One-to four-family 1,005,136 1,045,981
59 Multifamily 7,342 7,280
60 Federal National Mortgage 1,355,404 1,404,594
Association
61 One-to four-family 1,301,374 1,349,442
62 Multifamily 54,030 55,152
63 Farmers Home 0 0
Administration (4)
64 One-to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 899,408 (r) 929,858 (r)
69 One-to four-family (6) 616,300 638,300
70 Multifamily 53,918 (r) 55,234 (r)
71 Nonfarm, nonresidential 229,190 (r) 236,324 (r)
72 Farm 0 0
73 Individuals and others (7) 721,993 738,721
74 One-to four-family 514,560 525,893
75 Multifamily 78,085 78,639
76 Nonfarm, nonresidential 105,210 109,604
77 Farm 24,138 24,585
Q3 Q4
1 All holders 8,201,739 (r) 8,459,605 (r)
By type of property
2 One-to four-family residences 6,247,731 6,459,308 (r)
3 Multifamily residences 476,708 (r) 488,428 (r)
4 Nonfarm, nonresidential 1,353,685 (r) 1,387,110 (r)
5 Farm 123,614 124,759 (r)
By type of holder
6 Major financial institutions 2,981,790 (r) 3,089,824 (r)
7 Commercial banks (2) 1,962,198 2,058,426 (r)
8 One-to four-family 1,143,985 1,222,056 (r)
9 Multifamily 90,930 94,178
10 Nonfarm, nonresidential 689,481 704,167 (r)
11 Farm 37,802 38,025
12 Savings institutions (3) 773,652 781,378
13 One-to four-family 625,402 631,392
14 Multifamily 68,668 68,679
15 Nonfarm, nonresidential 79,022 80,730
16 Farm 560 577
17 Life insurance companies 245,939 (r) 250,019 (r)
18 One-to four-family 5,176 4,657 (r)
19 Multifamily 35,921 36,816 (r)
20 Nonfarm, nonresidential 190,698 (r) 195,040 (r)
21 Farm 14,144 13,506 (r)
22 Federal and related agencies 412,014 432,790 (r)
23 Government National 8 5
Mortgage Association
24 One-to four-family 8 5
25 Multifamily 0 0
26 Farmers Home 72,030 72,377
Administration (4)
27 One-to four-family 15,139 14,908
28 Multifamily 11,686 11,669
29 Nonfarm, nonresidential 41,439 42,101
30 Farm 3,766 3,700
31 Federal Housing Admin. and 2,973 3,854
Dept. of Veterans Affairs
32 One-to four-family 1,252 1,262
33 Multifamily 1,721 2,592
34 Resolution Trust Corporation 0 0
35 One-to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance 13 46
Corporation
40 One-to four-family 2 7
41 Multifamily 2 9
42 Nonfarm, nonresidential 8 30
43 Farm 0 0
44 Federal National Mortgage 184,191 185,797 (r)
Association
45 One-to four-family 167,006 172,226 (r)
46 Multifamily 17,185 13,571 (r)
47 Federal Land Banks 44,782 46,257
48 One-to four-family 2,635 2,722
49 Farm 42,147 43,535
50 Federal Home Loan Mortgage 60,934 63,887
Corporation
51 One-to four-family 34,616 35,851
52 Multifamily 26,318 28,036
53 Mortgage pools or trusts (5) 4,052,418 (r) 4,161,020 (r)
54 Government National Mortgage 567,386 537,888 (r)
Association
55 One-to four-family 542,208 512,098 (r)
56 Multifamily 25,178 25,790
57 Federal Home Loan Mortgage 1,058,176 1,082,062
Corporation
58 One-to four-family 1,050,899 1,072,990
59 Multifamily 7,277 9,072
60 Federal National Mortgage 1,458,945 1,538,287
Association
61 One-to four-family 1,402,929 1,478,610
62 Multifamily 56,016 59,677
63 Farmers Home 0 0
Administration (4)
64 One-to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 967,911 (r) 1,002,783 (r)
69 One-to four-family (6) 669,300 691,600 (r)
70 Multifamily 56,582 (r) 59,034 (r)
71 Nonfarm, nonresidential 242,029 (r) 252,149 (r)
72 Farm 0 0
73 Individuals and others (7) 755,517 (r) 775,971 (r)
74 One-to four-family 540,187 558,434
75 Multifamily 79,127 79,228
76 Nonfarm, nonresidential 111,008 (r) 112,894 (r)
77 Farm 25,194 25,415 (r)
2003
Q1
1 All holders 8,671,432
By type of property
2 One-to four-family residences 6,641,409
3 Multifamily residences 496,475
4 Nonfarm, nonresidential 1,407,138
5 Farm 126,410
By type of holder
6 Major financial institutions 3,166,701
7 Commercial banks (2) 2,099,352
8 One-to four-family 1,244,823
9 Multifamily 96,830
10 Nonfarm, nonresidential 718,996
11 Farm 38,704
12 Savings institutions (3) 815,873
13 One-to four-family 662,858
14 Multifamily 69,757
15 Nonfarm, nonresidential 82,669
16 Farm 589
17 Life insurance companies 251,476
18 One-to four-family 4,684
19 Multifamily 36,975
20 Nonfarm, nonresidential 196,232
21 Farm 13,585
22 Federal and related agencies 455,606
23 Government National 6
Mortgage Association
24 One-to four-family 6
25 Multifamily 0
26 Farmers Home 69,988
Administration (4)
27 One-to four-family 14,652
28 Multifamily 11,654
29 Nonfarm, nonresidential 40,093
30 Farm 3,590
31 Federal Housing Admin. and 3,824
Dept. of Veterans Affairs
32 One-to four-family 1,255
33 Multifamily 2,569
34 Resolution Trust Corporation 0
35 One-to four-family 0
36 Multifamily 0
37 Nonfarm, nonresidential 0
38 Farm 0
39 Federal Deposit Insurance 118
Corporation
40 One-to four-family 19
41 Multifamily 23
42 Nonfarm, nonresidential 76
43 Farm 0
44 Federal National Mortgage 195,633
Association
45 One-to four-family 180,829
46 Multifamily 14,804
47 Federal Land Banks 46,974
48 One-to four-family 2,764
49 Farm 44,210
50 Federal Home Loan Mortgage 64,388
Corporation
51 One-to four-family 35,880
52 Multifamily 28,508
53 Mortgage pools or trusts (5) 4,265,292
54 Government National Mortgage 515,822
Association
55 One-to four-family 489,063
56 Multifamily 26,759
57 Federal Home Loan Mortgage 1,073,016
Corporation
58 One-to four-family 1,064,114
59 Multifamily 8,902
60 Federal National Mortgage 1,637,474
Association
61 One-to four-family 1,576,495
62 Multifamily 60,979
63 Farmers Home 0
Administration (4)
64 One-to four-family 0
65 Multifamily 0
66 Nonfarm, nonresidential 0
67 Farm 0
68 Private mortgage conduits 1,038,980
69 One-to four-family (6) 725,100
70 Multifamily 59,169
71 Nonfarm, nonresidential 254,711
72 Farm 0
73 Individuals and others (7) 783,833
74 One-to four-family 564,262
75 Multifamily 79,478
76 Nonfarm, nonresidential 114,361
77 Farm 25,733
(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 investments
trusts, state and local credit agencies, state and local retirement
funds, noninsured pension funds, credit unions, and finance companies.
SOURCE: Based on data from various institutional and government
sources. Separation of nonfarm mortgage debt by type of property,
if not reported directly, and interpolations and extrapolations,
when required for some quarters, are estimated in part by the Federal
Reserve. Line 69 from Inside Mortgage Securities and other sources.
1.55 CONSUMER CREDIT (1)
Millions of dollars, amounts outstanding, end of period
Holder and type of credit 2000 2001
Seasonally adjusted
1 Total 1,559,532 1,666,816
2 Revolving 667,395 701,285
3 Nonrevolving (2) 892,137 965,531
Not seasonally adjusted
4 Total 1,593,116 1,701,856
By major holder
5 Commercial banks 541,470 558,421
6 Finance companies 219,848 236,559
7 Credit unions 184,434 189,570
8 Savings institutions 64,557 69,070
9 Nonfinancial business 82,662 67,955
10 Pools of securitized assets (3) 500,145 580,281
By major type of credit (4)
11 Revolving 693,020 727,297
12 Commercial banks 218,063 224,878
13 Finance companies 37,627 31,538
14 Credit unions 22,226 22,265
15 Savings institutions 16,560 17,767
16 Nonfinancial business 42,430 29,790
17 Pools of securitized assets (3) 356,114 401,059
18 Nonrevolving 900,096 974,559
19 Commercial banks 323,407 333,543
20 Finance companies 182,221 205,021
21 Credit unions 162,208 167,305
22 Savings institutions 47,997 51,303
23 Nonfinancial business 40,232 38,165
24 Pools of
securitized assets (3) 144,031 179,222
2002
Seasonally adjusted
1 Total 1,726,120
2 Revolving 712,002
3 Nonrevolving (2) 1,014,118
Not seasonally adjusted
4 Total 1,761,968
By major holder
5 Commercial banks 587,165
6 Finance companies 232,269
7 Credit unions 195,744
8 Savings institutions 68,494
9 Nonfinancial business 56,894
10 Pools of securitized assets (3) 621,402
By major type of credit (4)
11 Revolving 737,993
12 Commercial banks 230,990
13 Finance companies 38,948
14 Credit unions 22,228
15 Savings institutions 16,225
16 Nonfinancial business 19,221
17 Pools of 410,381
securitized assets (3)
18 Nonrevolving 1,023,975
19 Commercial banks 356,175
20 Finance companies 193,321
21 Credit unions 173,516
22 Savings institutions 52,269
23 Nonfinancial business 37,673
24 Pools of
securitized assets (3) 211,021
2003
Jan. Feb.
Seasonally adjusted
1 Total 1,741,124 1,743,548
2 Revolving 714,885 718,214
3 Nonrevolving (2) 1,026,238 1,025,334
Not seasonally adjusted
4 Total 1,756,104 1,742,542
By major holder
5 Commercial banks 582,065 581,490
6 Finance companies 232,099 232,291
7 Credit unions 195,164 194,438
8 Savings institutions 68,854 69,178
9 Nonfinancial business 52,838 49,563
10 Pools of securitized assets (3) 625,086 615,581
By major type of credit (4)
11 Revolving 726,331 718,434
12 Commercial banks 220,535 218,821
13 Finance companies 38,733 37,348
14 Credit unions 21,645 21,161
15 Savings institutions 16,141 16,064
16 Nonfinancial business 16,547 14,203
17 Pools of
securitized assets (3) 412,731 410,837
18 Nonrevolving 1,029,773 1,024,107
19 Commercial banks 361,529 362,669
20 Finance companies 193,366 194,944
21 Credit unions 173,516 173,277
22 Savings institutions 52,713 53,114
23 Nonfinancial business 36,291 35,360
24 Pools of
securitized assets (3) 212,355 204,744
Mar. Apr.
Seasonally adjusted
1 Total 1,744,549 1,753,339
2 Revolving 720,684 722,754
3 Nonrevolving (2) 1,023,865 1,030,585
Not seasonally adjusted
4 Total 1,734,292 1,741,889
By major holder
5 Commercial banks 575,259 576,011
6 Finance companies 225,245 231,934
7 Credit unions 193,082 194,546
8 Savings institutions 69,537 69,911
9 Nonfinancial business 48,477 47,697
10 Pools of securitized assets (3) 622,692 621,790
By major type of credit (4)
11 Revolving 713,554 718,953
12 Commercial banks 212,418 212,605
13 Finance companies 36,350 38,281
14 Credit unions 20,830 21,038
15 Savings institutions 15,979 16,144
16 Nonfinancial business 13,666 13,112
17 Pools of
securitized assets (3) 414,311 417,773
18 Nonrevolving 1,020,738 1,022,936
19 Commercial banks 362,841 363,406
20 Finance companies 188,895 193,653
21 Credit unions 172,252 173,508
22 Savings institutions 53,558 53,767
23 Nonfinancial business 34,811 34,584
24 Pools of
securitized assets (3) 208,381 204,017
May June
Seasonally adjusted
1 Total 1,761,329 (r) 1,761,214
2 Revolving 726,807 725,549
3 Nonrevolving (2) 1,034,523 (r) 1,035,666
Not seasonally adjusted
4 Total 1,749,478 (r) 1,752,132
By major holder
5 Commercial banks 580,580 581,553
6 Finance companies 242,181 246,510
7 Credit unions 195,491 197,978
8 Savings institutions 70,297 70,671
9 Nonfinancial business 48,097 47,482
10 Pools of securitized assets (3) 612,831 (r) 607,938
By major type of credit (4)
11 Revolving 722,371 722,396
12 Commercial banks 216,791 216,129
13 Finance companies 35,899 37,254
14 Credit unions 21,165 21,351
15 Savings institutions 16,313 16,478
16 Nonfinancial business 13,293 12,908
17 Pools of
securitized assets (3) 418,910 418,276
18 Nonrevolving 1,027,107 (r) 1,029,737
19 Commercial banks 363,789 365,424
20 Finance companies 206,282 209,256
21 Credit unions 174,326 176,627
22 Savings institutions 53,984 54,194
23 Nonfinancial business 34,804 34,574
24 Pools of
securitized assets (3) 193,921 (r) 189,662
(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 (412) monthly statistical release. For ordering address, see
inside front cover.
(2.) Comprises motor vehicle loans, mobile home loans, and all other
loans that are not included in revolving credit, such as loans for
education, boats, trailers, or vacations. These loans may be secured
or unsecured.
(3.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets of
the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT (1)
Percent per year except as noted
Item 2000 2001
INTEREST RATES
Commercial banks (2)
1 48-month new car 9.34 8.50
2 24-month personal 13.90 13.22
Credit card plan
3 All accounts 15.71 14.89
4 Accounts assessed
interest 14.91 14.44
Auto finance companies
5 New car 6.61 5.65
6 Used car 13.55 12.18
OTHER TERMS (3)
Maturity (months)
7 New car 54.9 55.1
8 Used car 57.0 57.5
Loan-to-value ratio
9 New car 92 91
10 Used car 99 100
Amount financed (dollars)
11 New car 20,923 22,822
12 Used car 14,058 14,416
2002 2002
Dec.
INTEREST RATES
Commercial banks (2)
1 48-month new car 7.54 n.a.
2 24-month personal 12.25 n.a.
Credit card plan
3 All accounts 13.42 n.a.
4 Accounts assessed
interest 13.09 n.a.
Auto finance companies
5 New car 4.29 3.50
6 Used car 10.74 10.48
OTHER TERMS (3)
Maturity (months)
7 New car 56.8 57.5
8 Used car 57.5 56.7
Loan-to-value ratio
9 New car 94 96
10 Used car 100 100
Amount financed (dollars)
11 New car 24,747 26,647
12 Used car 14,532 14,639
2003
Jan. Feb.
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. 7.11
2 24-month personal n.a. 11.70
Credit card plan
3 All accounts n.a. 13.20
4 Accounts assessed
interest n.a. 12.85
Auto finance companies
5 New car 3.13 3.99
6 Used car 10.37 10.43
OTHER TERMS (3)
Maturity (months)
7 New car 58.5 59.2
8 Used car 57.5 57.7
Loan-to-value ratio
9 New car 96 97
10 Used car 100 99
Amount financed (dollars)
11 New car 26,443 24,864
12 Used car 14,499 14,231
Mar. Apr.
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. n.a.
2 24-month personal n.a. n.a.
Credit card plan
3 All accounts n.a. n.a.
4 Accounts assessed
interest n.a. n.a.
Auto finance companies
5 New car 3.83 2.51
6 Used car 10.16 9.91
OTHER TERMS (3)
Maturity (months)
7 New car 59.5 60.1
8 Used car 57.8 57.7
Loan-to-value ratio
9 New car 96 97
10 Used car 99 99
Amount financed (dollars)
11 New car 25,152 27,540
12 Used car 14,253 14,475
May June
INTEREST RATES
Commercial banks (2)
1 48-month new car 7.05 n.a.
2 24-month personal 12.19 n.a.
Credit card plan
3 All accounts 12.90 n.a.
4 Accounts assessed
interest 12.82 n.a.
Auto finance companies
5 New car 2.40 2.93
6 Used car 9.82 9.81
OTHER TERMS (3)
Maturity (months)
7 New car 60.7 62.4
8 Used car 57.7 57.8
Loan-to-value ratio
9 New car 97 97
10 Used car 99 100
Amount financed (dollars)
11 New car 27,920 26,945
12 Used car 14,568 14,567
(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 1997
Nonfinancial Sectors
1 Total net borrowing by domestic 788.1 (r)
nonfinancial sectors
By sector and instrument
2 Federal government 23.1
3 Treasury securities 23.2
4 Budget agency securities and mortgages -.1
5 Nonfederal 765.0 (r)
By instrument
6 Commercial paper 13.7
7 Municipal securities and loans 56.9
8 Corporate bonds 150.5
9 Bank loans n.e.c. 106.4
10 Other loans and advances 43.1 (r)
11 Mortgages 322.4 (r)
12 Home 258.3
13 Multifamily residential 7.2 (r)
14 Commercial 53.8 (r)
15 Farm 3.1
16 Consumer credit 72.0 (r)
By borrowing sector
17 Household 330.8 (r)
18 Nonfinancial business 392.7 (r)
19 Corporate 291.8 (r)
20 Nonfarm noncorporate 94.7
21 Farm 6.2
22 State and local government 41.5
23 Foreign net borrowing in United States 71.8
24 Commercial paper 3.7
25 Bonds 61.4
26 Bank loans n.e.c. 8.5
27 Other loans and advances -1.8
28 Total domestic plus foreign 859.9 (r)
Financial sectors
29 Total net borrowing by financial sectors 662.2
By instrument
30 Federal government-related 212.9
31 Government-sponsored enterprise securities 98.4
32 Mortgage pool securities 114.6
33 Loans from U.S. government .0
34 Private 449.3
35 Open market paper 166.7
36 Corporate bonds 218.9
37 Bank loans n.e.c. 13.3
38 Other loans and advances 35.6
39 Mortgages 14.9
By borrowing sector
40 Commercial banking 46.1
41 Savings institutions 19.7
42 Credit unions .1
43 Life insurance companies .2
44 Government-sponsored enterprises 98.4
45 Federally related mortgage pools 114.6
46 Issuers of asset-backed securities (ABSs) 202.2
47 Finance companies 57.8
48 Mortgage companies -4.6
49 Real estate investment trusts (REITs) 39.6
50 Brokers and dealers 8.1
51 Funding corporations 79.9
52 Total net barrowing, all sectors 1,522.2 (r)
53 Open market paper 184.1
54 U.S. government securities 236.0
55 Municipal securities 56.9
56 Corporate and foreign bonds 430.8
57 Bank loans n.e.c. 128.2
58 Other loans and advances 76.9 (r)
59 Mortgages 337.3 (r)
60 Consumer credit 72.0 (r)
Funds raised through mutual funds
and corporate equities
61 Total net issues 218.7
62 Corporate equities -46.5
63 Nonfinancial corporations -77.4
64 Foreign shares purchased 57.6
by U.S. residents
65 Financial corporations -26.7
66 Mutual fund shares 265.1
1998
Nonfinancial Sectors
1 Total net borrowing by domestic 1,041.9 (r)
nonfinancial sectors
By sector and instrument
2 Federal government -52.6
3 Treasury securities -54.6
4 Budget agency securities and mortgages 2.0
5 Nonfederal 1,094.5 (r)
By instrument
6 Commercial paper 24.4
7 Municipal securities and loans 84.2
8 Corporate bonds 235.2
9 Bank loans n.e.c. 109.8
10 Other loans and advances 68.5 (r)
11 Mortgages 485.8 (r)
12 Home 384.6
13 Multifamily residential 23.3 (r)
14 Commercial 71.3 (r)
15 Farm 6.5
16 Consumer credit 86.7 (r)
By borrowing sector
17 Household 450.8 (r)
18 Nonfinancial business 576.1 (r)
19 Corporate 408.4 (r)
20 Nonfarm noncorporate 159.7
21 Farm 8.0
22 State and local government 67.7
23 Foreign net borrowing in United States 31.2 (r)
24 Commercial paper 7.8
25 Bonds 22.8 (r)
26 Bank loans n.e.c. 6.6
27 Other loans and advances -6.0
28 Total domestic plus foreign 1,073.1 (r)
Financial sectors
29 Total net borrowing by financial sectors 1,085.6
By instrument
30 Federal government-related 470.9
31 Government-sponsored enterprise securities 278.3
32 Mortgage pool securities 192.6
33 Loans from U.S. government .0
34 Private 614.7
35 Open market paper 161.0
36 Corporate bonds 310.2
37 Bank loans n.e.c. 28.5
38 Other loans and advances 90.2
39 Mortgages 24.8
By borrowing sector
40 Commercial banking 72.9
41 Savings institutions 52.2
42 Credit unions .6
43 Life insurance companies .7
44 Government-sponsored enterprises 278.3
45 Federally related mortgage pools 192.6
46 Issuers of asset-backed securities (ABSs) 321.4
47 Finance companies 57.1
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 62.7
50 Brokers and dealers 7.2
51 Funding corporations 40.0
52 Total net barrowing, all sectors 2,158.7
53 Open market paper 193.1
54 U.S. government securities 418.3
55 Municipal securities 84.2
56 Corporate and foreign bonds 568.2
57 Bank loans n.e.c. 145.0
58 Other loans and advances 152.7
59 Mortgages 510.6
60 Consumer credit 86.7
Funds raised through mutual funds
and corporate equities
61 Total net issues 166.1
62 Corporate equities -113.4
63 Nonfinancial corporations -215.5
64 Foreign shares purchased 101.4
by U.S. residents
65 Financial corporations .8
66 Mutual fund shares 279.5
1999
Nonfinancial Sectors
1 Total net borrowing by domestic 1,030.9 (r)
nonfinancial sectors
By sector and instrument
2 Federal government -71.2
3 Treasury securities -71.0
4 Budget agency securities and mortgages -.2
5 Nonfederal 1,102.1 (r)
By instrument
6 Commercial paper 37.4
7 Municipal securities and loans 54.4
8 Corporate bonds 217.8
9 Bank loans n.e.c. 82.9
10 Other loans and advances 26.1
11 Mortgages 563.3 (r)
12 Home 424.4
13 Multifamily residential 35.2 (r)
14 Commercial 98.0 (r)
15 Farm 5.8
16 Consumer credit 120.2 (r)
By borrowing sector
17 Household 498.6 (r)
18 Nonfinancial business 565.0 (r)
19 Corporate 377.2 (r)
20 Nonfarm noncorporate 182.4
21 Farm 5.5
22 State and local government 38.5
23 Foreign net borrowing in United States 13.0 (r)
24 Commercial paper 16.3
25 Bonds 1.9 (r)
26 Bank loans n.e.c. .5
27 Other loans and advances -5.7
28 Total domestic plus foreign 1,043.9 (r)
Financial sectors
29 Total net borrowing by financial sectors 1,073.5 (r)
By instrument
30 Federal government-related 592.0
31 Government-sponsored enterprise securities 318.2
32 Mortgage pool securities 273.8
33 Loans from U.S. government .0
34 Private 481.6 (r)
35 Open market paper 176.2
36 Corporate bonds 207.5 (r)
37 Bank loans n.e.c. -14.4
38 Other loans and advances 107.1
39 Mortgages 5.1
By borrowing sector
40 Commercial banking 67.2
41 Savings institutions 48.0
42 Credit unions 2.2
43 Life insurance companies .7
44 Government-sponsored enterprises 318.2
45 Federally related mortgage pools 273.8
46 Issuers of asset-backed securities (ABSs) 212.3
47 Finance companies 70.7 (r)
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 6.3
50 Brokers and dealers -17.2
51 Funding corporations 91.5
52 Total net barrowing, all sectors 2,117.4 (r)
53 Open market paper 229.9
54 U.S. government securities 520.7
55 Municipal securities 54.4
56 Corporate and foreign bonds 427.3 (r)
57 Bank loans n.e.c. 69.0
58 Other loans and advances 127.5 (r)
59 Mortgages 568.5 (r)
60 Consumer credit 120.2 (r)
Funds raised through mutual funds
and corporate equities
61 Total net issues 191.5
62 Corporate equities .2
63 Nonfinancial corporations -110.4
64 Foreign shares purchased 114.3
by U.S. residents
65 Financial corporations -3.7
66 Mutual fund shares 191.2
2000
Nonfinancial Sectors
1 Total net borrowing by domestic 853.5 (r)
nonfinancial sectors
By sector and instrument
2 Federal government -295.9
3 Treasury securities -294.9
4 Budget agency securities and mortgages -1.0
5 Nonfederal 1,149.3 (r)
By instrument
6 Commercial paper 48.1
7 Municipal securities and loans 23.6
8 Corporate bonds 161.3
9 Bank loans n.e.c. 101.8
10 Other loans and advances 84.5 (r)
11 Mortgages 563.9 (r)
12 Home 418.2
13 Multifamily residential 32.9 (r)
14 Commercial 106.2 (r)
15 Farm 6.5
16 Consumer credit 166.2 (r)
By borrowing sector
17 Household 558.8 (r)
18 Nonfinancial business 575.1 (r)
19 Corporate 380.1 (r)
20 Nonfarm noncorporate 184.1
21 Farm 10.9
22 State and local government 15.5
23 Foreign net borrowing in United States 57.0 (r)
24 Commercial paper 31.7
25 Bonds 15.2 (r)
26 Bank loans n.e.c. 11.4
27 Other loans and advances -1.3
28 Total domestic plus foreign 910.5 (r)
Financial sectors
29 Total net borrowing by financial sectors 821.8 (r)
By instrument
30 Federal government-related 433.5
31 Government-sponsored enterprise securities 234.1
32 Mortgage pool securities 199.4
33 Loans from U.S. government .0
34 Private 388.3 (r)
35 Open market paper 127.7
36 Corporate bonds 212.3 (r)
37 Bank loans n.e.c. -.4
38 Other loans and advances 42.5
39 Mortgages 6.2
By borrowing sector
40 Commercial banking 60.0
41 Savings institutions 27.3
42 Credit unions .0
43 Life insurance companies -.7
44 Government-sponsored enterprises 234.1
45 Federally related mortgage pools 199.4
46 Issuers of asset-backed securities (ABSs) 201.9 (r)
47 Finance companies 81.9 (r)
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 2.7
50 Brokers and dealers 15.6
51 Funding corporations -.4
52 Total net barrowing, all sectors 1,732.3
53 Open market paper 207.6
54 U.S. government securities 137.6
55 Municipal securities 23.6
56 Corporate and foreign bonds 388.7
57 Bank loans n.e.c. 112.8
58 Other loans and advances 125.6
59 Mortgages 570.1
60 Consumer credit 166.2
Funds raised through mutual funds
and corporate equities
61 Total net issues 238.4
62 Corporate equities 3.4
63 Nonfinancial corporations -118.2
64 Foreign shares purchased 106.7
by U.S. residents
65 Financial corporations 14.9
66 Mutual fund shares 235.0
2001
Nonfinancial Sectors
1 Total net borrowing by domestic 1,114.4 (r)
nonfinancial sectors
By sector and instrument
2 Federal government -5.6
3 Treasury securities -5.0
4 Budget agency securities and mortgages -.5
5 Nonfederal 1,120.0 (r)
By instrument
6 Commercial paper -88.3
7 Municipal securities and loans 122.9 (r)
8 Corporate bonds 340.5
9 Bank loans n.e.c. -82.0
10 Other loans and advances 1.8
11 Mortgages 699.1 (r)
12 Home 532.7
13 Multifamily residential 45.6 (r)
14 Commercial 113.4 (r)
15 Farm 7.5
16 Consumer credit 126.0 (r)
By borrowing sector
17 Household 614.6 (r)
18 Nonfinancial business 399.6 (r)
19 Corporate 235.3 (r)
20 Nonfarm noncorporate 156.8
21 Farm 7.5
22 State and local government 105.8 (r)
23 Foreign net borrowing in United States -49.7 (r)
24 Commercial paper -14.2
25 Bonds -24.5 (r)
26 Bank loans n.e.c. -7.3
27 Other loans and advances -3.7
28 Total domestic plus foreign 1,064.6 (r)
Financial sectors
29 Total net borrowing by financial sectors 934.0 (r)
By instrument
30 Federal government-related 629.3
31 Government-sponsored enterprise securities 290.8
32 Mortgage pool securities 338.5
33 Loans from U.S. government .0
34 Private 304.7 (r)
35 Open market paper -61.9
36 Corporate bonds 317.3 (r)
37 Bank loans n.e.c. 13.1
38 Other loans and advances 34.9
39 Mortgages 1.3
By borrowing sector
40 Commercial banking 52.9
41 Savings institutions 7.4
42 Credit unions 1.5
43 Life insurance companies .6
44 Government-sponsored enterprises 290.8
45 Federally related mortgage pools 338.5
46 Issuers of asset-backed securities (ABSs) 292.3 (r)
47 Finance companies 1.3 (r)
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 2.5
50 Brokers and dealers 1.4
51 Funding corporations -55.2
52 Total net barrowing, all sectors 1,998.7
53 Open market paper -164.4
54 U.S. government securities 623.8
55 Municipal securities 122.9
56 Corporate and foreign bonds 633.3
57 Bank loans n.e.c. -76.2
58 Other loans and advances 32.9
59 Mortgages 700.4
60 Consumer credit 126.0
Funds raised through mutual funds
and corporate equities
61 Total net issues 305.0
62 Corporate equities 103.6
63 Nonfinancial corporations -47.4
64 Foreign shares purchased 109.1
by U.S. residents
65 Financial corporations 41.9
66 Mutual fund shares 201.4
2001
Q4
Nonfinancial Sectors
1 Total net borrowing by domestic 1,163.5 (r)
nonfinancial sectors
By sector and instrument
2 Federal government 43.4
3 Treasury securities 44.2
4 Budget agency securities and mortgages -.7
5 Nonfederal 1,120.1 (r)
By instrument
6 Commercial paper 45.5
7 Municipal securities and loans 174.6
8 Corporate bonds 325.0
9 Bank loans n.e.c. -165.5
10 Other loans and advances -119.7 (r)
11 Mortgages 725.7 (r)
12 Home 533.1
13 Multifamily residential 54.3 (r)
14 Commercial 131.6 (r)
15 Farm 6.8
16 Consumer credit 134.5 (r)
By borrowing sector
17 Household 596.7 (r)
18 Nonfinancial business 381.2 (r)
19 Corporate 231.8 (r)
20 Nonfarm noncorporate 141.1
21 Farm 8.3
22 State and local government 142.1
23 Foreign net borrowing in United States 3.3 (r)
24 Commercial paper 5.9
25 Bonds 17.0 (r)
26 Bank loans n.e.c. -16.3
27 Other loans and advances -3.3
28 Total domestic plus foreign 1,166.9 (r)
Financial sectors
29 Total net borrowing by financial sectors 964.4 (r)
By instrument
30 Federal government-related 591.8
31 Government-sponsored enterprise securities 306.5
32 Mortgage pool securities 285.3
33 Loans from U.S. government .0
34 Private 372.6 (r)
35 Open market paper -13.6
36 Corporate bonds 361.1 (r)
37 Bank loans n.e.c. 17.7
38 Other loans and advances 8.9
39 Mortgages -1.6
By borrowing sector
40 Commercial banking 44.1
41 Savings institutions -68.6
42 Credit unions 4.4
43 Life insurance companies 1.4
44 Government-sponsored enterprises 306.5
45 Federally related mortgage pools 285.3
46 Issuers of asset-backed securities (ABSs) 416.8 (r)
47 Finance companies -23.6 (r)
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 7.8
50 Brokers and dealers -18.9
51 Funding corporations 9.1
52 Total net barrowing, all sectors 2,131.2 (r)
53 Open market paper 37.8
54 U.S. government securities 635.2
55 Municipal securities 174.6
56 Corporate and foreign bonds 703.2 (r)
57 Bank loans n.e.c. -164.0
58 Other loans and advances -114.2 (r)
59 Mortgages 724.1 (r)
60 Consumer credit 134.5
Funds raised through mutual funds
and corporate equities
61 Total net issues 406.4 (r)
62 Corporate equities 150.5 (r)
63 Nonfinancial corporations -4.2
64 Foreign shares purchased 83.9 (r)
by U.S. residents
65 Financial corporations 70.9
66 Mutual fund shares 255.9
2002
Q1
Nonfinancial Sectors
1 Total net borrowing by domestic 992.5 (r)
nonfinancial sectors
By sector and instrument
2 Federal government 39.8
3 Treasury securities 41.6
4 Budget agency securities and mortgages -1.8
5 Nonfederal 952.6 (r)
By instrument
6 Commercial paper -144.4
7 Municipal securities and loans 76.8 (r)
8 Corporate bonds 253.6
9 Bank loans n.e.c. -16.4
10 Other loans and advances -38.0 (r)
11 Mortgages 702.8 (r)
12 Home 602.4
13 Multifamily residential 28.5 (r)
14 Commercial 65.0 (r)
15 Farm 6.9
16 Consumer credit 118.1 (r)
By borrowing sector
17 Household 720.9 (r)
18 Nonfinancial business 162.9 (r)
19 Corporate 47.3 (r)
20 Nonfarm noncorporate 110.3
21 Farm 5.3
22 State and local government 68.9 (r)
23 Foreign net borrowing in United States 65.1 (r)
24 Commercial paper 66.8
25 Bonds -14.5 (r)
26 Bank loans n.e.c. 13.9
27 Other loans and advances -1.2 (r)
28 Total domestic plus foreign 1,057.5 (r)
Financial sectors
29 Total net borrowing by financial sectors 866.1 (r)
By instrument
30 Federal government-related 691.1
31 Government-sponsored enterprise securities 191.3
32 Mortgage pool securities 499.8
33 Loans from U.S. government .0
34 Private 175.0 (r)
35 Open market paper -178.3
36 Corporate bonds 351.1 (r)
37 Bank loans n.e.c. -.6
38 Other loans and advances -3.8 (r)
39 Mortgages 6.6
By borrowing sector
40 Commercial banking 24.4 (r)
41 Savings institutions -33.1
42 Credit unions 2.4
43 Life insurance companies 2.4
44 Government-sponsored enterprises 191.3
45 Federally related mortgage pools 499.8
46 Issuers of asset-backed securities (ABSs) 258.3 (r)
47 Finance companies -28.9 (r)
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 7.4
50 Brokers and dealers -15.7
51 Funding corporations -42.2
52 Total net barrowing, all sectors 1,923.6
53 Open market paper -255.9
54 U.S. government securities 730.9
55 Municipal securities 76.8
56 Corporate and foreign bonds 590.2
57 Bank loans n.e.c. -3.0
58 Other loans and advances -43.0
59 Mortgages 709.4
60 Consumer credit 118.1
Funds raised through mutual funds
and corporate equities
61 Total net issues 437.0
62 Corporate equities 50.1
63 Nonfinancial corporations -11.0
64 Foreign shares purchased -7.0
by U.S. residents
65 Financial corporations 68.1
66 Mutual fund shares 386.9
2002
Q2
Nonfinancial Sectors
1 Total net borrowing by domestic 1,628.8 (r)
nonfinancial sectors
By sector and instrument
2 Federal government 526.0
3 Treasury securities 524.2
4 Budget agency securities and mortgages 1.8
5 Nonfederal 1,102.8 (r)
By instrument
6 Commercial paper -81.7
7 Municipal securities and loans 196.1 (r)
8 Corporate bonds 191.4
9 Bank loans n.e.c. -192.1
10 Other loans and advances 65.1
11 Mortgages 825.8 (r)
12 Home 658.6
13 Multifamily residential 41.7 (r)
14 Commercial 116.5 (r)
15 Farm 9.1
16 Consumer credit 98.2 (r)
By borrowing sector
17 Household 689.7 (r)
18 Nonfinancial business 229.7 (r)
19 Corporate 88.5 (r)
20 Nonfarm noncorporate 132.7
21 Farm 8.5
22 State and local government 183.4 (r)
23 Foreign net borrowing in United States 2.1 (r)
24 Commercial paper 36.5
25 Bonds -54.0 (r)
26 Bank loans n.e.c. 22.0
27 Other loans and advances -2.4 (r)
28 Total domestic plus foreign 1,630.9 (r)
Financial sectors
29 Total net borrowing by financial sectors 867.2 (r)
By instrument
30 Federal government-related 487.8
31 Government-sponsored enterprise securities 141.7
32 Mortgage pool securities 346.1
33 Loans from U.S. government .0
34 Private 379.4 (r)
35 Open market paper -109.1
36 Corporate bonds 434.6 (r)
37 Bank loans n.e.c. 31.2
38 Other loans and advances 15.8 (r)
39 Mortgages 7.0
By borrowing sector
40 Commercial banking 12.6 (r)
41 Savings institutions -12.2 (r)
42 Credit unions 2.0
43 Life insurance companies 1.2
44 Government-sponsored enterprises 141.7
45 Federally related mortgage pools 346.1
46 Issuers of asset-backed securities (ABSs) 230.6 (r)
47 Finance companies 83.9 (r)
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 25.3
50 Brokers and dealers 17.5
51 Funding corporations 18.5
52 Total net barrowing, all sectors 2,498.1
53 Open market paper -154.3
54 U.S. government securities 1,013.8
55 Municipal securities 196.1
56 Corporate and foreign bonds 572.0
57 Bank loans n.e.c. -139.0
58 Other loans and advances 78.6
59 Mortgages 832.8
60 Consumer credit 98.2
Funds raised through mutual funds
and corporate equities
61 Total net issues 276.5
62 Corporate equities 176.5
63 Nonfinancial corporations 15.5
64 Foreign shares purchased 77.4
by U.S. residents
65 Financial corporations 83.6
66 Mutual fund shares 100.0
2002
Q3
Nonfinancial Sectors
1 Total net borrowing by domestic 1,338.3 (r)
nonfinancial sectors
By sector and instrument
2 Federal government 265.7
3 Treasury securities 264.2
4 Budget agency securities and mortgages 1.6
5 Nonfederal 1,072.5 (r)
By instrument
6 Commercial paper -17.4
7 Municipal securities and loans 154.2 (r)
8 Corporate bonds -29.0
9 Bank loans n.e.c. -124.5
10 Other loans and advances 61.2 (r)
11 Mortgages 920.4 (r)
12 Home 780.4
13 Multifamily residential 31.7 (r)
14 Commercial 95.2 (r)
15 Farm 13.1 (r)
16 Consumer credit 107.6 (r)
By borrowing sector
17 Household 791.0 (r)
18 Nonfinancial business 140.2 (r)
19 Corporate -2.9 (r)
20 Nonfarm noncorporate 128.8
21 Farm 14.2 (r)
22 State and local government 141.3 (r)
23 Foreign net borrowing in United States -44.0 (r)
24 Commercial paper 3.9
25 Bonds -35.3 (r)
26 Bank loans n.e.c. -11.7
27 Other loans and advances -1.0
28 Total domestic plus foreign 1,294.2 (r)
Financial sectors
29 Total net borrowing by financial sectors 858.5 (r)
By instrument
30 Federal government-related 420.8
31 Government-sponsored enterprise securities 249.1
32 Mortgage pool securities 171.6
33 Loans from U.S. government .0
34 Private 437.7 (r)
35 Open market paper 84.3
36 Corporate bonds 194.4 (r)
37 Bank loans n.e.c. 81.9
38 Other loans and advances 71.9
39 Mortgages 5.3
By borrowing sector
40 Commercial banking 62.3 (r)
41 Savings institutions 37.1
42 Credit unions 3.1
43 Life insurance companies 2.0
44 Government-sponsored enterprises 249.1
45 Federally related mortgage pools 171.6
46 Issuers of asset-backed securities (ABSs) 195.8 (r)
47 Finance companies 110.9 (r)
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 27.7
50 Brokers and dealers 15.2
51 Funding corporations -16.4
52 Total net barrowing, all sectors 2,152.7
53 Open market paper 70.8
54 U.S. government securities 686.5
55 Municipal securities 154.2
56 Corporate and foreign bonds 130.0
57 Bank loans n.e.c. -54.4
58 Other loans and advances 132.2
59 Mortgages 925.7
60 Consumer credit 107.6
Funds raised through mutual funds
and corporate equities
61 Total net issues -83.6
62 Corporate equities -120.7
63 Nonfinancial corporations -141.2
64 Foreign shares purchased -51.3
by U.S. residents
65 Financial corporations 71.8
66 Mutual fund shares 37.1
2002
Q4 (r)
Nonfinancial Sectors
1 Total net borrowing by domestic 1,539.0 (r)
nonfinancial sectors
By sector and instrument
2 Federal government 198.5
3 Treasury securities 198.1
4 Budget agency securities and mortgages .4
5 Nonfederal 1,340.5
By instrument
6 Commercial paper -13.2
7 Municipal securities and loans 216.1
8 Corporate bonds 114.4
9 Bank loans n.e.c. -15.3
10 Other loans and advances -.3
11 Mortgages 1,045.9
12 Home 843.5
13 Multifamily residential 67.1
14 Commercial 130.8
15 Farm 4.6
16 Consumer credit -7.1
By borrowing sector
17 Household 885.6
18 Nonfinancial business 267.2
19 Corporate 107.6
20 Nonfarm noncorporate 156.3
21 Farm 3.4
22 State and local government 187.7
23 Foreign net borrowing in United States 1.1
24 Commercial paper 37.3
25 Bonds -30.1
26 Bank loans n.e.c. -2.9
27 Other loans and advances -3.2
28 Total domestic plus foreign 1,540.0
Financial sectors
29 Total net borrowing by financial sectors 1,102.7
By instrument
30 Federal government-related 616.4
31 Government-sponsored enterprise securities 321.5
32 Mortgage pool securities 294.9
33 Loans from U.S. government .0
34 Private 486.4
35 Open market paper -77.3
36 Corporate bonds 684.4
37 Bank loans n.e.c. -107.9
38 Other loans and advances -17.4
39 Mortgages 4.7
By borrowing sector
40 Commercial banking 100.3
41 Savings institutions -46.7
42 Credit unions .4
43 Life insurance companies 2.5
44 Government-sponsored enterprises 321.5
45 Federally related mortgage pools 294.9
46 Issuers of asset-backed securities (ABSs) 389.9
47 Finance companies 7.4
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 18.6
50 Brokers and dealers -24.0
51 Funding corporations 37.8
52 Total net barrowing, all sectors 2,642.7
53 Open market paper -53.3
54 U.S. government securities 814.9
55 Municipal securities 216.1
56 Corporate and foreign bonds 768.6
57 Bank loans n.e.c. -126.1
58 Other loans and advances -20.9
59 Mortgages 1,050.6
60 Consumer credit -7.1
Funds raised through mutual funds
and corporate equities
61 Total net issues 291.0
62 Corporate equities 84.1
63 Nonfinancial corporations -30.9
64 Foreign shares purchased 51.6
by U.S. residents
65 Financial corporations 63.4
66 Mutual fund shares 206.9
2003
Q1 (r)
Nonfinancial Sectors
1 Total net borrowing by domestic 1,243.4
nonfinancial sectors
By sector and instrument
2 Federal government 79.9
3 Treasury securities 81.5
4 Budget agency securities and mortgages -1.6
5 Nonfederal 1,163.5
By instrument
6 Commercial paper -15.2
7 Municipal securities and loans 90.3
8 Corporate bonds 178.6
9 Bank loans n.e.c. -55.3
10 Other loans and advances -14.5
11 Mortgages 886.7
12 Home 763.8
13 Multifamily residential 33.3
14 Commercial 83.2
15 Farm 6.4
16 Consumer credit 93.0
By borrowing sector
17 Household 837.2
18 Nonfinancial business 252.1
19 Corporate 134.2
20 Nonfarm noncorporate 113.4
21 Farm 4.6
22 State and local government 74.2
23 Foreign net borrowing in United States 18.4
24 Commercial paper 52.6
25 Bonds -29.4
26 Bank loans n.e.c. -4.0
27 Other loans and advances -.8
28 Total domestic plus foreign 1,261.8
Financial sectors
29 Total net borrowing by financial sectors 1,002.6
By instrument
30 Federal government-related 452.0
31 Government-sponsored enterprise securities 179.7
32 Mortgage pool securities 272.3
33 Loans from U.S. government .0
34 Private 550.6
35 Open market paper 58.8
36 Corporate bonds 432.5
37 Bank loans n.e.c. -42.7
38 Other loans and advances 105.5
39 Mortgages -3.5
By borrowing sector
40 Commercial banking 76.1
41 Savings institutions 48.2
42 Credit unions 2.8
43 Life insurance companies 4.4
44 Government-sponsored enterprises 179.7
45 Federally related mortgage pools 272.3
46 Issuers of asset-backed securities (ABSs) 315.2
47 Finance companies -.2
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 17.5
50 Brokers and dealers 38.4
51 Funding corporations 48.0
52 Total net barrowing, all sectors 2,264.4
53 Open market paper 96.3
54 U.S. government securities 531.9
55 Municipal securities 90.3
56 Corporate and foreign bonds 581.7
57 Bank loans n.e.c. -102.0
58 Other loans and advances 90.1
59 Mortgages 883.2
60 Consumer credit 93.0
Funds raised through mutual funds
and corporate equities
61 Total net issues 288.7
62 Corporate equities 99.6
63 Nonfinancial corporations -80.1
64 Foreign shares purchased 132.5
by U.S. residents
65 Financial corporations 47.2
66 Mutual fund shares 189.1
2003
Q2
Nonfinancial Sectors
1 Total net borrowing by domestic 2,523.8
nonfinancial sectors
By sector and instrument
2 Federal government 888.2
3 Treasury securities 887.7
4 Budget agency securities and mortgages .5
5 Nonfederal 1,635.6
By instrument
6 Commercial paper -87.3
7 Municipal securities and loans 189.4
8 Corporate bonds 309.6
9 Bank loans n.e.c. -63.9
10 Other loans and advances 80.7
11 Mortgages 1.141.0
12 Home 951.4
13 Multifamily residential 50.5
14 Commercial 127.8
15 Farm 11.3
16 Consumer credit 66.2
By borrowing sector
17 Household 1,000.2
18 Nonfinancial business 460.3
19 Corporate 311.5
20 Nonfarm noncorporate 146.0
21 Farm 2.8
22 State and local government 175.1
23 Foreign net borrowing in United States -48.4
24 Commercial paper 73.5
25 Bonds -93.5
26 Bank loans n.e.c. -31.4
27 Other loans and advances 3.0
28 Total domestic plus foreign 2,475.4
Financial sectors
29 Total net borrowing by financial sectors 871.8
By instrument
30 Federal government-related 460.4
31 Government-sponsored enterprise securities 209.8
32 Mortgage pool securities 250.6
33 Loans from U.S. government .0
34 Private 411.4
35 Open market paper -93.6
36 Corporate bonds 497.7
37 Bank loans n.e.c. 21.0
38 Other loans and advances -17.0
39 Mortgages 3.3
By borrowing sector
40 Commercial banking 85.1
41 Savings institutions -30.3
42 Credit unions 1.6
43 Life insurance companies 1.5
44 Government-sponsored enterprises 209.8
45 Federally related mortgage pools 250.6
46 Issuers of asset-backed securities (ABSs) 286.7
47 Finance companies 153.8
48 Mortgage companies .0
49 Real estate investment trusts (REITs) 12.9
50 Brokers and dealers -16.2
51 Funding corporations -83.6
52 Total net barrowing, all sectors 3,347.2
53 Open market paper -107.5
54 U.S. government securities 1,348.6
55 Municipal securities 189.4
56 Corporate and foreign bonds 713.7
57 Bank loans n.e.c. -74.3
58 Other loans and advances 66.7
59 Mortgages 1,144.3
60 Consumer credit 66.2
Funds raised through mutual funds
and corporate equities
61 Total net issues 400.4
62 Corporate equities 52.0
63 Nonfinancial corporations -57.6
64 Foreign shares purchased 56.0
by U.S. residents
65 Financial corporations 53.6
66 Mutual fund shares 348.4
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.2 through F4. For ordering address, see
inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS (1)
Billions of dollars except as noted; quarterly data at seasonally
adjusted annual rates
Transaction category or sector 1997
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,522.2 (r)
2 Domestic nonfederal nonfinancial sectors 15.5 (r)
3 Household 25.5 (r)
4 Nonfinancial corporate business -12.7
5 Nonfarm noncorporate business 2.6
6 State and local governments .1
7 Federal government 3.2 (r)
8 Rest of the world 259.6
9 Financial sectors 1,243.9
10 Monetary authority 38.3
11 Commercial banking 324.3
12 U.S.-chartered banks 274.9
13 Foreign banking offices
in United States 40.2
14 Bank holding companies 5.4
15 Banks in U.S.-affiliated areas 3.7
16 Savings institutions -4.7
17 Credit unions 16.8
18 Bank personal trusts and estates -25.0
19 Life insurance companies 104.8
20 Other insurance companies 25.2
21 Private pension funds 45.7 (r)
22 State and local government 67.1
retirement funds
23 Money market mutual funds 87.5
24 Mutual funds 80.9
25 Closed-end funds -2.9
26 Government-sponsored enterprises 106.3
27 Federally related mortgage pools 114.6
28 Asset-backed securities issuers (ABSs) 163.8
29 Finance companies 23.1
30 Mortgage companies -9.1
31 Real estate investment trusts (REITs) 20.2
32 Brokers and dealers 14.9
33 Funding corporations 50.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,522.2 (r)
Other financial sources
35 Official foreign exchange .7
36 Special drawing rights certificates -.5
37 Treasury currency .5
38 Foreign deposits 107.7
39 Net interbank transactions -19.7
40 Checkable deposits and currency 41.2
41 Small time and savings deposits 97.1
42 Large time deposits 122.5
43 Money market fund shares 155.9
44 Security repurchase agreements 120.9
45 Corporate equities -46.5
46 Mutual fund shares 265.1
47 Trade payables 139.8
48 Security credit 111.0
49 Life insurance reserves 59.3
50 Pension fund reserves 201.4
51 Taxes payable 22.3
52 Investment in bank personal trusts -53.0
53 Noncorporate proprietors' equity -40.7
54 Miscellaneous 496.9 (r)
55 Total financial sources 3,304.2 (r)
Liabilities not identified as assets (-)
56 Treasury currency -.2
57 Foreign deposits 106.2
58 Net interbank liabilities -19.9
59 Security repurchase agreements 63.2
60 Taxes payable 28.0
61 Miscellaneous -285.5 (r)
Floats not included in assets (-)
62 Federal government checkable deposits -2.7
63 Other checkable deposits -3.9
64 Trade credit -25.5
65 Total identified to sectors as assets 3,397.9 (r)
1998
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,158.7 (r)
2 Domestic nonfederal nonfinancial sectors 250.9 (r)
3 Household 119.1 (r)
4 Nonfinancial corporate business -16.0
5 Nonfarm noncorporate business 13.3
6 State and local governments 134.5
7 Federal government 11.7 (r)
8 Rest of the world 167.7 (r)
9 Financial sectors 1728.4
10 Monetary authority 21.1
11 Commercial banking 305.6
12 U.S.-chartered banks 312.1
13 Foreign banking offices
in United States -11.6
14 Bank holding companies -.9
15 Banks in U.S.-affiliated areas 6.0
16 Savings institutions 36.2
17 Credit unions 18.9
18 Bank personal trusts and estates -12.8
19 Life insurance companies 76.9
20 Other insurance companies 5.8
21 Private pension funds -26.1 (r)
22 State and local government 72.1
retirement funds
23 Money market mutual funds 244.0
24 Mutual funds 127.3
25 Closed-end funds 5.2
26 Government-sponsored enterprises 314.0
27 Federally related mortgage pools 192.6
28 Asset-backed securities issuers (ABSs) 281.7
29 Finance companies 77.3
30 Mortgage companies .0
31 Real estate investment trusts (REITs) -5.1
32 Brokers and dealers 6.8
33 Funding corporations -15.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,158.7 (r)
Other financial sources
35 Official foreign exchange 6.6
36 Special drawing rights certificates .0
37 Treasury currency .6
38 Foreign deposits 6.5
39 Net interbank transactions -31.8
40 Checkable deposits and currency 47.3
41 Small time and savings deposits 152.4
42 Large time deposits 91.8
43 Money market fund shares 287.2
44 Security repurchase agreements 91.3
45 Corporate equities -113.4 (r)
46 Mutual fund shares 279.5
47 Trade payables 106.4
48 Security credit 103.2
49 Life insurance reserves 48.0
50 Pension fund reserves 217.4
51 Taxes payable 19.6
52 Investment in bank personal trusts -46.1
53 Noncorporate proprietors' equity -57.8
54 Miscellaneous 953.3 (r)
55 Total financial sources 4,320.6 (r)
Liabilities not identified as assets (-)
56 Treasury currency -.1
57 Foreign deposits -8.5
58 Net interbank liabilities 3.8
59 Security repurchase agreements 57.7
60 Taxes payable 19.7
61 Miscellaneous -208.5 (r)
Floats not included in assets (-)
62 Federal government checkable deposits 2.6
63 Other checkable deposits -3.1
64 Trade credit -43.3
65 Total identified to sectors as assets 4,452.4 (r)
1999
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,117.4 (r)
2 Domestic nonfederal nonfinancial sectors 257.1 (r)
3 Household 247.1 (r)
4 Nonfinancial corporate business -15.6
5 Nonfarm noncorporate business -2.9
6 State and local governments 28.4
7 Federal government 6.5 (r)
8 Rest of the world 96.6 (r)
9 Financial sectors 1,757.3 (r)
10 Monetary authority 25.7
11 Commercial banking 312.2
12 U.S.-chartered banks 318.6
13 Foreign banking offices
in United States -17.0
14 Bank holding companies 6.2
15 Banks in U.S.-affiliated areas 4.4
16 Savings institutions 67.7
17 Credit unions 27.5
18 Bank personal trusts and estates 27.8
19 Life insurance companies 53.5
20 Other insurance companies -3.0
21 Private pension funds 14.1 (r)
22 State and local government 46.9
retirement funds
23 Money market mutual funds 182.0
24 Mutual funds 48.4
25 Closed-end funds 8.5
26 Government-sponsored enterprises 291.3
27 Federally related mortgage pools 273.8
28 Asset-backed securities issuers (ABSs) 194.1
29 Finance companies 97.1 (r)
30 Mortgage companies .0
31 Real estate investment trusts (REITs) -2.6
32 Brokers and dealers -34.7
33 Funding corporations 124.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,117.4 (r)
Other financial sources
35 Official foreign exchange -8.7
36 Special drawing rights certificates -3.0
37 Treasury currency 1.0
38 Foreign deposits 61.1 (r)
39 Net interbank transactions 15.0
40 Checkable deposits and currency 151.2
41 Small time and savings deposits 45.1
42 Large time deposits 131.1
43 Money market fund shares 249.1
44 Security repurchase agreements 169.8
45 Corporate equities .2
46 Mutual fund shares 191.2
47 Trade payables 268.5(r)
48 Security credit 104.4
49 Life insurance reserves 50.8
50 Pension fund reserves 181.8
51 Taxes payable 30.7
52 Investment in bank personal trusts -8.1
53 Noncorporate proprietors' equity -62.4
54 Miscellaneous 1,125.5 (r)
55 Total financial sources 4,811.9 (r)
Liabilities not identified as assets (-)
56 Treasury currency -.7
57 Foreign deposits 42.8 (r)
58 Net interbank liabilities .1
59 Security repurchase agreements 35.7
60 Taxes payable 11.7
61 Miscellaneous -279.7 (r)
Floats not included in assets (-)
62 Federal government checkable deposits -7.4
63 Other checkable deposits -.8
64 Trade credit 6.8
65 Total identified to sectors as assets 4,955.0 (r)
2000
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,732.3 (r)
2 Domestic nonfederal nonfinancial sectors -13.7 (r)
3 Household -33.6 (r)
4 Nonfinancial corporate business 19.4 (r)
5 Nonfarm noncorporate business 1.3
6 State and local governments -.8
7 Federal government 11.6 (r)
8 Rest of the world 129.5 (r)
9 Financial sectors 1,604.8 (r)
10 Monetary authority 33.7
11 Commercial banking 357.9
12 U.S.-chartered banks 339.5
13 Foreign banking offices
in United States 23.9
14 Bank holding companies -12.2
15 Banks in U.S.-affiliated areas 6.7
16 Savings institutions 56.2
17 Credit unions 28.0
18 Bank personal trusts and estates .8
19 Life insurance companies 57.9
20 Other insurance companies -8.7
21 Private pension funds 31.3 (r)
22 State and local government 54.6
retirement funds
23 Money market mutual funds 143.0
24 Mutual funds 21.0
25 Closed-end funds -6.3
26 Government-sponsored enterprises 256.4
27 Federally related mortgage pools 199.4
28 Asset-backed securities issuers (ABSs) 172.1 (r)
29 Finance companies 108.6 (r)
30 Mortgage companies .0
31 Real estate investment trusts (REITs) -7.1
32 Brokers and dealers 68.9
33 Funding corporations 35.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,732.3 (r)
Other financial sources
35 Official foreign exchange -.4
36 Special drawing rights certificates -4.0
37 Treasury currency 2.4
38 Foreign deposits 134.2 (r)
39 Net interbank transactions 15.1
40 Checkable deposits and currency -71.4
41 Small time and savings deposits 188.8
42 Large time deposits 116.2
43 Money market fund shares 233.3
44 Security repurchase agreements 113.2
45 Corporate equities 3.4 (r)
46 Mutual fund shares 235.0
47 Trade payables 419.5 (r)
48 Security credit 146.1
49 Life insurance reserves 50.2
50 Pension fund reserves 209.0
51 Taxes payable 32.8
52 Investment in bank personal trusts 56.6
53 Noncorporate proprietors' equity -11.5
54 Miscellaneous 1,371.8 (r)
55 Total financial sources 4972.6 (r)
Liabilities not identified as assets (-)
56 Treasury currency -1.2
57 Foreign deposits 78.5 (r)
58 Net interbank liabilities 20.4
59 Security repurchase agreements 122.6
60 Taxes payable 26.2
61 Miscellaneous -527.2 (r)
Floats not included in assets (-)
62 Federal government checkable deposits 9.0
63 Other checkable deposits 1.7
64 Trade credit 22.4 (r)
65 Total identified to sectors as assets 5,192.2 (r)
2001
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,998.7 (r)
2 Domestic nonfederal nonfinancial sectors 27.1
3 Household -.7 (r)
4 Nonfinancial corporate business -12.4
5 Nonfarm noncorporate business 2.0
6 State and local governments 38.1
7 Federal government 6.0
8 Rest of the world 234.6 (r)
9 Financial sectors 1,731.0 (r)
10 Monetary authority 39.9
11 Commercial banking 205.2
12 U.S.-chartered banks 191.6
13 Foreign banking offices
in United States -.6
14 Bank holding companies 4.2
15 Banks in U.S.-affiliated areas 10.0
16 Savings institutions 42.8
17 Credit unions 41.5
18 Bank personal trusts and estates -28.1
19 Life insurance companies 130.9
20 Other insurance companies 9.0
21 Private pension funds 6.7 (r)
22 State and local government -17.7
retirement funds
23 Money market mutual funds 246.0
24 Mutual funds 126.0
25 Closed-end funds 6.9
26 Government-sponsored enterprises 309.0
27 Federally related mortgage pools 338.5
28 Asset-backed securities issuers (ABSs) 266.2 (r)
29 Finance companies -4.8 (r)
30 Mortgage companies .0
31 Real estate investment trusts (REITs) 6.7
32 Brokers and dealers 92.4
33 Funding corporations -95.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,998.7 (r)
Other financial sources
35 Official foreign exchange 4.3
36 Special drawing rights certificates .0
37 Treasury currency 1.3
38 Foreign deposits 30.7 (r)
39 Net interbank transactions -28.0
40 Checkable deposits and currency 204.3
41 Small time and savings deposits 267.2
42 Large time deposits 68.6
43 Money market fund shares 428.6
44 Security repurchase agreements 22.3
45 Corporate equities 103.6 (r)
46 Mutual fund shares 201.4
47 Trade payables -73.4 (r)
48 Security credit 3.1
49 Life insurance reserves 77.2
50 Pension fund reserves 210.8
51 Taxes payable 17.4
52 Investment in bank personal trusts -59.9
53 Noncorporate proprietors' equity -18.6
54 Miscellaneous 683.1 (r)
55 Total financial sources 4,142.8 (r)
Liabilities not identified as assets (-)
56 Treasury currency -.1
57 Foreign deposits 11.1 (r)
58 Net interbank liabilities 17.2
59 Security repurchase agreements -53.9
60 Taxes payable 22.0
61 Miscellaneous -341.2 (r)
Floats not included in assets (-)
62 Federal government checkable deposits 5.7
63 Other checkable deposits 4.5
64 Trade credit -6.5
65 Total identified to sectors as assets 4,414.1 (r)
2001
Q4
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,131.2 (r)
2 Domestic nonfederal nonfinancial sectors 172.6 (r)
3 Household 145.3 (r)
4 Nonfinancial corporate business -17.1 (r)
5 Nonfarm noncorporate business 2.0
6 State and local governments 42.4
7 Federal government -1.5 (r)
8 Rest of the world 2,74.7 (r)
9 Financial sectors 1,685.4 (r)
10 Monetary authority 85.1
11 Commercial banking 314.6
12 U.S.-chartered banks 275.0
13 Foreign banking offices
in United States -7.8
14 Bank holding companies 13.6
15 Banks in U.S.-affiliated areas 33.9
16 Savings institutions 73.1
17 Credit unions 60.5
18 Bank personal trusts and estates -28.1
19 Life insurance companies 81.3
20 Other insurance companies 28.5
21 Private pension funds -20.9 (r)
22 State and local government -2.7
retirement funds
23 Money market mutual funds 49.1
24 Mutual funds 139.3
25 Closed-end funds 16.3
26 Government-sponsored enterprises 335.3
27 Federally related mortgage pools 285.3
28 Asset-backed securities issuers (ABSs) 394.1 (r)
29 Finance companies -99.6 (r)
30 Mortgage companies .0
31 Real estate investment trusts (REITs) 14.0
32 Brokers and dealers -110.5
33 Funding corporations 60.4 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,131.2 (r)
Other financial sources
35 Official foreign exchange .2
36 Special drawing rights certificates .0
37 Treasury currency .0
38 Foreign deposits 9.6 (r)
39 Net interbank transactions 24.5
40 Checkable deposits and currency 278.1
41 Small time and savings deposits 329.7
42 Large time deposits 77.8
43 Money market fund shares 379.8
44 Security repurchase agreements -138.3
45 Corporate equities 150.5 (r)
46 Mutual fund shares 255.9
47 Trade payables -126.1 (r)
48 Security credit -383.7
49 Life insurance reserves 119.6
50 Pension fund reserves 158.0
51 Taxes payable -55.2
52 Investment in bank personal trusts -57.7
53 Noncorporate proprietors' equity 8.4
54 Miscellaneous 200.5 (r)
55 Total financial sources 3,362.7 (r)
Liabilities not identified as assets (-)
56 Treasury currency .0
57 Foreign deposits -46.9 (r)
58 Net interbank liabilities 22.6
59 Security repurchase agreements -166.2
60 Taxes payable 34.6
61 Miscellaneous -278.7 (r)
Floats not included in assets (-)
62 Federal government checkable deposits -91.8
63 Other checkable deposits 5.7
64 Trade credit 73.6 (r)
65 Total identified to sectors as assets 3,749.3 (r)
2002
Q1
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,923.6 (r)
2 Domestic nonfederal nonfinancial sectors 100.4 (r)
3 Household 48.9 (r)
4 Nonfinancial corporate business 69.3 (r)
5 Nonfarm noncorporate business 3.3
6 State and local governments -21.1 (r)
7 Federal government 9.3 (r)
8 Rest of the world 248.0
9 Financial sectors 1,565.9 (r)
10 Monetary authority 81.6
11 Commercial banking 188.9
12 U.S.-chartered banks 168.2
13 Foreign banking offices
in United States 2.1
14 Bank holding companies 12.0
15 Banks in U.S.-affiliated areas 6.6
16 Savings institutions 12.3
17 Credit unions 58.3
18 Bank personal trusts and estates 1.0
19 Life insurance companies 278.1 (r)
20 Other insurance companies 36.7
21 Private pension funds 47.1 (r)
22 State and local government 70.5
retirement funds
23 Money market mutual funds -239.1
24 Mutual funds 243.3
25 Closed-end funds 24.4
26 Government-sponsored enterprises 236.7
27 Federally related mortgage pools 499.8
28 Asset-backed securities issuers (ABSs) 234.1 (r)
29 Finance companies -26.5 (r)
30 Mortgage companies .0
31 Real estate investment trusts (REITs) 26.3
32 Brokers and dealers -219.5
33 Funding corporations 6.1 (r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,923.6 (r)
Other financial sources
35 Official foreign exchange -3.0
36 Special drawing rights certificates .0
37 Treasury currency .9
38 Foreign deposits -43.8 (r)
39 Net interbank transactions 3.3
40 Checkable deposits and currency -200.5
41 Small time and savings deposits 288.3
42 Large time deposits 270.0
43 Money market fund shares -312.5
44 Security repurchase agreements 119.4
45 Corporate equities 50.1 (r)
46 Mutual fund shares 386.9
47 Trade payables 194.8 (r)
48 Security credit -190.7
49 Life insurance reserves 54.0 (r)
50 Pension fund reserves 148.8 (r)
51 Taxes payable 7.2 (r)
52 Investment in bank personal trusts -3.7
53 Noncorporate proprietors' equity 1.5
54 Miscellaneous 120.3 (r)
55 Total financial sources 2,815.1 (r)
Liabilities not identified as assets (-)
56 Treasury currency -1.5
57 Foreign deposits -87.1 (r)
58 Net interbank liabilities 39.8
59 Security repurchase agreements 156.9
60 Taxes payable 17.9 (r)
61 Miscellaneous -336.8 (r)
Floats not included in assets (-)
62 Federal government checkable deposits 15.1
63 Other checkable deposits 6.1
64 Trade credit -26.6 (r)
65 Total identified to sectors as assets 2,987.9 (r)
Q2 (r)
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,498.1
2 Domestic nonfederal nonfinancial sectors 292.0
3 Household 257.6
4 Nonfinancial corporate business -11.4
5 Nonfarm noncorporate business 3.3
6 State and local governments 42.5
7 Federal government -3.7
8 Rest of the world 458.0
9 Financial sectors 1,751.8
10 Monetary authority 43.4
11 Commercial banking 384.3
12 U.S.-chartered banks 343.8
13 Foreign banking offices
in United States 33.7
14 Bank holding companies 1.9
15 Banks in U.S.-affiliated areas 4.9
16 Savings institutions -23.5
17 Credit unions 61.8
18 Bank personal trusts and estates .9
19 Life insurance companies 206.6
20 Other insurance companies 35.4
21 Private pension funds 22.1
22 State and local government -54.5
retirement funds
23 Money market mutual funds -87.5
24 Mutual funds 41.9
25 Closed-end funds -2.6
26 Government-sponsored enterprises 130.1
27 Federally related mortgage pools 346.1
28 Asset-backed securities issuers (ABSs) 208.4
29 Finance companies 42.2
30 Mortgage companies .0
31 Real estate investment trusts (REITs) 31.8
32 Brokers and dealers 402.8
33 Funding corporations -45.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,498.1
Other financial sources
35 Official foreign exchange 12.9
36 Special drawing rights certificates .0
37 Treasury currency .6
38 Foreign deposits 66.1
39 Net interbank transactions -166.5
40 Checkable deposits and currency 210.2
41 Small time and savings deposits 215.6
42 Large time deposits 34.8
43 Money market fund shares 104.2
44 Security repurchase agreements 362.4
45 Corporate equities 176.5
46 Mutual fund shares 100.0
47 Trade payables 48.9
48 Security credit -131.9
49 Life insurance reserves 71.4
50 Pension fund reserves 191.7
51 Taxes payable 40.5
52 Investment in bank personal trusts -2.4
53 Noncorporate proprietors' equity -32.9
54 Miscellaneous 641.9
55 Total financial sources 4,442.2
Liabilities not identified as assets (-)
56 Treasury currency -.9
57 Foreign deposits 99.1
58 Net interbank liabilities -13.0
59 Security repurchase agreements 227.6
60 Taxes payable -52.2
61 Miscellaneous 15.2
Floats not included in assets (-)
62 Federal government checkable deposits 77.1
63 Other checkable deposits 7.1
64 Trade credit -53.6
65 Total identified to sectors as assets 4,097.1
Q3 (r)
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,152.7
2 Domestic nonfederal nonfinancial sectors -116.4
3 Household -170.5
4 Nonfinancial corporate business 33.5
5 Nonfarm noncorporate business 2.8
6 State and local governments 17.8
7 Federal government 31.1
8 Rest of the world 393.9
9 Financial sectors 1,844.1
10 Monetary authority 67.3
11 Commercial banking 624.0
12 U.S.-chartered banks 599.9
13 Foreign banking offices
in United States 21.8
14 Bank holding companies -1.6
15 Banks in U.S.-affiliated areas 4.0
16 Savings institutions 80.3
17 Credit unions 6.1
18 Bank personal trusts and estates .8
19 Life insurance companies 279.0
20 Other insurance companies 21.7
21 Private pension funds 40.2
22 State and local government -10.4
retirement funds
23 Money market mutual funds -75.7
24 Mutual funds 162.7
25 Closed-end funds -1.7
26 Government-sponsored enterprises 203.5
27 Federally related mortgage pools 171.6
28 Asset-backed securities issuers (ABSs) 173.2
29 Finance companies 83.9
30 Mortgage companies .0
31 Real estate investment trusts (REITs) 27.7
32 Brokers and dealers -208.6
33 Funding corporations 165.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,152.7
Other financial sources
35 Official foreign exchange 24.6
36 Special drawing rights certificates .0
37 Treasury currency 2.4
38 Foreign deposits 53.0
39 Net interbank transactions 62.4
40 Checkable deposits and currency 208.0
41 Small time and savings deposits 323.4
42 Large time deposits 36.8
43 Money market fund shares -196.6
44 Security repurchase agreements -91.1
45 Corporate equities -120.7
46 Mutual fund shares 37.1
47 Trade payables 126.2
48 Security credit -69.6
49 Life insurance reserves 60.8
50 Pension fund reserves 287.2
51 Taxes payable 53.8
52 Investment in bank personal trusts -2.1
53 Noncorporate proprietors' equity -83.9
54 Miscellaneous 876.1
55 Total financial sources 3,740.4
Liabilities not identified as assets (-)
56 Treasury currency 1.1
57 Foreign deposits 23.9
58 Net interbank liabilities 16.7
59 Security repurchase agreements -291.8
60 Taxes payable 21.5
61 Miscellaneous 98.9
Floats not included in assets (-)
62 Federal government checkable deposits -40.3
63 Other checkable deposits 7.6
64 Trade credit -14.8
65 Total identified to sectors as assets 3,865.4
Q4 (r)
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,642.7
2 Domestic nonfederal nonfinancial sectors 132.6
3 Household 127.2
4 Nonfinancial corporate business -42.4
5 Nonfarm noncorporate business 4.0
6 State and local governments 43.8
7 Federal government 3.1
8 Rest of the world 351.0
9 Financial sectors 2,156.0
10 Monetary authority 118.7
11 Commercial banking 420.4
12 U.S.-chartered banks 463.3
13 Foreign banking offices
in United States -32.8
14 Bank holding companies .2
15 Banks in U.S.-affiliated areas -10.2
16 Savings institutions 72.5
17 Credit unions 44.4
18 Bank personal trusts and estates .8
19 Life insurance companies 168.2
20 Other insurance companies 65.6
21 Private pension funds .2
22 State and local government 60.7
retirement funds
23 Money market mutual funds 301.2
24 Mutual funds 118.4
25 Closed-end funds 17.0
26 Government-sponsored enterprises 277.8
27 Federally related mortgage pools 294.9
28 Asset-backed securities issuers (ABSs) 368.1
29 Finance companies -14.8
30 Mortgage companies .0
31 Real estate investment trusts (REITs) 6.7
32 Brokers and dealers 138.8
33 Funding corporations -324.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,642.7
Other financial sources
35 Official foreign exchange 4.9
36 Special drawing rights certificates .0
37 Treasury currency .0
38 Foreign deposits 20.3
39 Net interbank transactions 170.0
40 Checkable deposits and currency -43.7
41 Small time and savings deposits 257.2
42 Large time deposits -140.2
43 Money market fund shares 337.6
44 Security repurchase agreements 29.2
45 Corporate equities 84.1
46 Mutual fund shares 206.9
47 Trade payables 157.1
48 Security credit 44.1
49 Life insurance reserves 54.2
50 Pension fund reserves 232.7
51 Taxes payable 7.2
52 Investment in bank personal trusts -1.3
53 Noncorporate proprietors' equity -40.9
54 Miscellaneous 160.6
55 Total financial sources 4,182.8
Liabilities not identified as assets (-)
56 Treasury currency -1.1
57 Foreign deposits 36.7
58 Net interbank liabilities -15.1
59 Security repurchase agreements -62.0
60 Taxes payable -55.6
61 Miscellaneous 75.3
Floats not included in assets (-)
62 Federal government checkable deposits -51.7
63 Other checkable deposits 8.4
64 Trade credit 18.5
65 Total identified to sectors as assets 4,181.8
2003
Ql (r) Q2
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,264.4 3,347.2
2 Domestic nonfederal nonfinancial sectors -353.9 20.1
3 Household -326.4 -67.5
4 Nonfinancial corporate business 54.9 34.4
5 Nonfarm noncorporate business -.2 4.1
6 State and local governments -82.1 49.1
7 Federal government -18.3 -1.4
8 Rest of the world 359.5 1,055.8
9 Financial sectors 2,277.1 2,272.7
10 Monetary authority 32.3 25.0
11 Commercial banking 349.0 616.3
12 U.S.-chartered banks 305.6 547.7
13 Foreign banking offices
in United States 23.3 12.2
14 Bank holding companies 20.8 39.7
15 Banks in U.S.-affiliated areas -.7 16.8
16 Savings institutions 189.4 88.0
17 Credit unions 43.5 71.2
18 Bank personal trusts and estates -19.3 -17.6
19 Life insurance companies 276.0 216.0
20 Other insurance companies 57.7 42.9
21 Private pension funds 7.3 39.5
22 State and local government .1 62.7
retirement funds
23 Money market mutual funds -187.0 214.0
24 Mutual funds 220.2 213.0
25 Closed-end funds 31.1 24.1
26 Government-sponsored enterprises 302.7 112.6
27 Federally related mortgage pools 272.3 250.6
28 Asset-backed securities issuers (ABSs) 291.4 266.1
29 Finance companies -2.4 56.6
30 Mortgage companies .0 .0
31 Real estate investment trusts (REITs) -8.6 31.0
32 Brokers and dealers 19.6 1.3
33 Funding corporations 374.5 -43.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,264.4 3,347.2
Other financial sources
35 Official foreign exchange 4.9 .6
36 Special drawing rights certificates .0 .0
37 Treasury currency .6 1.6
38 Foreign deposits -73.7 78.6
39 Net interbank transactions -4.1 -123.5
40 Checkable deposits and currency 271.3 94.2
41 Small time and savings deposits 261.6 437.6
42 Large time deposits 191.6 43.4
43 Money market fund shares -441.4 186.0
44 Security repurchase agreements -50.4 564.3
45 Corporate equities 99.6 52.0
46 Mutual fund shares 189.1 348.4
47 Trade payables 141.4 202.4
48 Security credit 229.8 641.8
49 Life insurance reserves 94.0 70.0
50 Pension fund reserves 269.5 245.5
51 Taxes payable 55.2 45.1
52 Investment in bank personal trusts -79.9 -43.7
53 Noncorporate proprietors' equity -22.1 8.0
54 Miscellaneous 789.2 908.8
55 Total financial sources 4,190.5 7,108.5
Liabilities not identified as assets (-)
56 Treasury currency -.2 .5
57 Foreign deposits -70.4 112.7
58 Net interbank liabilities 6.1 -42.2
59 Security repurchase agreements 112.2 292.4
60 Taxes payable -20.2 -12.4
61 Miscellaneous -329.2 129.1
Floats not included in assets (-)
62 Federal government checkable deposits 153.1 -104.9
63 Other checkable deposits 9.0 9.7
64 Trade credit -3.8 24.3
65 Total identified to sectors as assets 4,291.9 6,649.1
(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
1998
Transaction category or sector
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 16,240.8 (r)
By sector and instrument
2 Federal government 3,752.2
3 Treasury securities 3,723.7
4 Budget agency securities and mortgages 28.5
5 Nonfederal 12,488.7 (r)
By instrument
6 Commercial paper 193.0
7 Municipal securities and loans 1,402.9
8 Corporate bonds 1,846.0
9 Bank loans n.e.c 1,150.2
10 Other loans and advances 826.1 (r)
11 Mortgages 5,640.4 (r)
12 Home 4,362.9
13 Multifamily residential 307.9 (r)
14 Commercial 873.0 (r)
15 Farm 96.6
16 Consumer credit 1,430.1 (r)
By borrowing sector
17 Households 6,012.0 (r)
18 Nonfinancial business 5,338.3 (r)
19 Corporate 3,790.7 (r)
20 Nonfarm noncorporate 1,383.7
21 Farm 163.9
22 State and local government 1,138.3
23 Foreign credit market debt held in
United States 639.3 (r)
24 Commercial paper 72.9
25 Bonds 450.6 (r)
26 Bank loans n.e.c. 58.7
27 Other loans and advances 57.1
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 16,880.1 (r)
Financial sectors
29 Total credit market debt owed by
financial sectors 6,543.6
By instrument
30 Federal government-related 3,292.0
31 Government-sponsored enterprise securities 1,273.6
32 Mortgage pool securities 2,018.4
33 Loans from U.S. government .0
34 Private 3,251.6
35 Open market paper 906.7
36 Corporate bonds 1,878.7
37 Bank loans n.e.c. 105.8
38 Other loans and advances 288.7
39 Mortgages 71.6
By borrowing sector
40 Commercial banks 188.6
41 Bank holding companies 193.5
42 Savings institutions 212.4
43 Credit unions 1.1
44 Life insurance companies 2.5
45 Government-sponsored enterprises 1,273.6
46 Federally related mortgage pools 2,018.4
47 Issuers of asset-backed securities (ABSs) 1,398.0
48 Brokers and dealers 42.5
49 Finance companies 625.5
50 Mortgage companies 16.0
51 Real estate investment trusts (REITs) 158.8
52 Funding corporations 412.6
All sectors
53 Total credit market debt, domestic and foreign 23,423.8 (r)
54 Open market paper 1,172.6
55 U.S. government securities 7,044.2
56 Municipal securities 1,402.9
57 Corporate and foreign bonds 4,175.4 (r)
58 Bank loans n.e.c. 1,314.8
59 Other loans and advances 1,171.9 (r)
60 Mortgages 5,712.0 (r)
61 Consumer credit 1,430.1 (r)
1999
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 17,306.5 (r)
By sector and instrument
2 Federal government 3,681.0
3 Treasury securities 3,652.7
4 Budget agency securities and mortgages 28.3
5 Nonfederal 13,625.5 (r)
By instrument
6 Commercial paper 230.3
7 Municipal securities and loans 1,457.2
8 Corporate bonds 2,063.9
9 Bank loans n.e.c 1,233.2
10 Other loans and advances 852.4 (r)
11 Mortgages 6,238.1 (r)
12 Home 4,787.2
13 Multifamily residential 343.4 (r)
14 Commercial 1,005.1 (r)
15 Farm 102.3
16 Consumer credit 1,550.4 (r)
By borrowing sector
17 Households 6,511.0 (r)
18 Nonfinancial business 5,937.7 (r)
19 Corporate 4,202.2 (r)
20 Nonfarm noncorporate 1,566.1
21 Farm 169.4
22 State and local government 1,176.9
23 Foreign credit market debt held in
United States 652.5 (r)
24 Commercial paper 89.2
25 Bonds 452.5 (r)
26 Bank loans n.e.c. 59.2
27 Other loans and advances 51.6
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 17,958.9 (r)
Financial sectors
29 Total credit market debt owed by
financial sectors 7,617.2 (r)
By instrument
30 Federal government-related 3,884.0
31 Government-sponsored enterprise securities 1,591.7
32 Mortgage pool securities 2,292.2
33 Loans from U.S. government .0
34 Private 3,733.2 (r)
35 Open market paper 1,082.9
36 Corporate bonds 2,086.3 (r)
37 Bank loans n.e.c. 91.5
38 Other loans and advances 395.8
39 Mortgages 76.7
By borrowing sector
40 Commercial banks 230.0
41 Bank holding companies 219.3
42 Savings institutions 260.4
43 Credit unions 3.4
44 Life insurance companies 3.2
45 Government-sponsored enterprises 1,591.7
46 Federally related mortgage pools 2,292.2
47 Issuers of asset-backed securities (ABSs) 1,610.3
48 Brokers and dealers 25.3
49 Finance companies 696.1 (r)
50 Mortgage companies 16.0
51 Real estate investment trusts (REITs) 165.1
52 Funding corporations 504.0
All sectors
53 Total credit market debt, domestic and foreign 25,576.1 (r)
54 Open market paper 1,402.4
55 U.S. government securities 7,564.9
56 Municipal securities 1,457.2
57 Corporate and foreign bonds 4,602.6 (r)
58 Bank loans n.e.c. 1,383.8
59 Other loans and advances 1,299.9 (r)
60 Mortgages 6,314.8 (r)
61 Consumer credit 1,550.4 (r)
2000
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 18,171.0 (r)
By sector and instrument
2 Federal government 3,385.1
3 Treasury securities 3,357.8
4 Budget agency securities and mortgages 27.3
5 Nonfederal 14,785.9 (r)
By instrument
6 Commercial paper 278.4
7 Municipal securities and loans 1,480.9
8 Corporate bonds 2,225.1
9 Bank loans n.e.c 1,335.0
10 Other loans and advances 936.9
11 Mortgages 6,802.0 (r)
12 Home 5,205.4
13 Multifamily residential 376.4 (r)
14 Commercial 1,111.4 (r)
15 Farm 
