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Federal Reserve Bulletin, Dec, 2001
Guide to Tables
SYMBOLS AND ABBREVIATIONS
c Corrected
e Estimated
n.a. Not available
n.e.c. Not elsewhere classified
p Preliminary
r Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
* Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
0 Calculated to be zero
... Cell not applicable
ABS Asset-backed security
ATS Automatic transfer service
BIF Bank insurance fund
CD Certificate of deposit
CMO Collateralized mortgage obligation
CRA Community Reinvestment Act of 1977
FAMC Federal Agriculture Mortgage Corporation
FFB Federal Financing Bank
FHA Federal Housing Administration
FHLBB Federal Home Loan Bank Board
FHLMC Federal Home Loan Mortgage Corporation
FmHA Farmers Home Administration
FNMA Federal National Mortgage Association
FSA Farm Service Agency
FSLIC Federal Savings and Loan Insurance Corporation
G-7 Group of Seven
G-10 Group of Ten
GDP Gross domestic product
GNMA Government National Mortgage Association
GSE Government-sponsored enterprise
HUD Department of Housing and Urban
Development
IMF International Monetary Fund
IOs Interest only, stripped, mortgage-backed securities
IPCs Individuals, partnerships, and corporations
IRA Individual retirement account
MMDA Money market deposit account
MSA Metropolitan statistical area
NAICS North American Industry Classification System
NOW Negotiable order of withdrawal
OCDs Other checkable deposits
OPEC Organization of Petroleum Exporting Countries
OTS Office of Thrift Supervision
PMI Private mortgage insurance
POs Principal only, stripped, mortgage-backed securities
REIT Real estate investment trust
REMICs Real estate mortgage investment conduits
RHS Rural Housing Service
RP Repurchase agreement
RTC Resolution Trust Corporation
SCO Securitized credit obligation
SDR Special drawing right
SIC Standard Industrial Classification
TIIS Treasury inflation-indexed securities
VA Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations
of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
1.10 RESERVES, MONEY STOCK, AND DEBT MEASURES
Percent annual rate of change, seasonally adjusted (1)
2000 2001
Monetary or
credit aggregate
Q4 Q1 Q2 Q3
Reserves of depository
institutions (2)
1 Total -8.7 -2.1 1.7 71.7
2 Required -10.4 -3.5 3.3 10.1
3 Nonborrowed -6.4 .5 .6 60.4
4 Monetary base (3) 2.8 6.4 5.4 14.7
Concepts of money and
debt (4)
5 M1 -3.3 5.0 5.4 13.8
6 M2 6.3 10.7 10.4 10.5
7 M3 7.4 (r) 13.6 15.0 9.1
8 Debt 4.5 4.7 (r) 5.9 (r) n.a.
Nontransaction
components
9 In M2 (5) 9.1 12.3 11.9 (r) 9.6
10 In M3 only (6) 9.9 20.2 25.3 6.1
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 12.0 17.4 20.4 19.7
12 Small time (7) 5.6 2.5 -7.7 -11.3
13 Large time (8,9) 4.0 -1.3 -1.1 -6.0
Thrift institutions
14 Savings, including
MMDAs .4 6.5 22.2 26.1
15 Small time (7) 9.5 6.2 3.0 -6.1
16 Large time (8) 14.0 12.3 12.1 14.9
Money market mutual
funds
17 Retail 11.6 16.9 11.2 5.6
18 Institution-only 18.8 50.0 54.9 21.0
Repurchase agreements
and eurodollars
19 Repurchase agree-
ments (10) 2.1 -7.1 21.0 -9.6
20 Eurodollars (10) 10.3 38.6 7.7 (r) 1.8
Debt components (4)
21 Federal 8.0 -5.2 -6.4 n.a.
22 Nonfederal 7.5 7.1 8.6 (r) n.a.
2001
Monetary or
credit aggregate
May June July (r)
Reserves of depository
institutions (2)
1 Total 3.1 -3.5 25.6
2 Required 11.5 -14.4 25.0
3 Nonborrowed -1.9 -4.0 24.0
4 Monetary base (3) 6.4 5.6 11.6
Concepts of money and
debt (4)
5 M1 -.8 6.2 (r) 13.6
6 M2 5.7 10.1 9.0
7 M3 14.0 (r) 13.0 6.6
8 Debt 6.7 (r) 6.1 (r) 3.3
Nontransaction
components
9 In M2 (5) 7.5 (r) 11.2 7.8
10 In M3 only (6) 32.4 (r) 19.1 (r) 1.3
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 18.2 19.0 12.5
12 Small time (7) -7.6 -10.5 -15.0
13 Large time (8,9) 14.1 (r) 9.5 -11.3
Thrift institutions
14 Savings, including
MMDAs 32.6 25.3 (r) 23.8
15 Small time (7) 11.6 (r) -2.7 (r) -9.9
16 Large time (8) 21.0 -8.7 19.7
Money market mutual
funds
17 Retail -11.8 12.1 14.1
18 Institution-only 67.4 44.2 8.1
Repurchase agreements
and eurodollars
19 Repurchase agree-
ments (10) 10.6 1.6 -12.1
20 Eurodollars (10) -12.5 (r) -16.5 (r) 25.1
Debt components (4)
21 Federal -15.5 2.8 5.1
22 Nonfederal 11.6 (r) 6.8 (r) 2.9
2001
Monetary or
credit aggregate
Aug. (r) Sept.
Reserves of depository
institutions (2)
1 Total 8.9 539.7
2 Required 14.6 4.3
3 Nonborrowed 12.0 445.5
4 Monetary base (3) 15.4 47.3
Concepts of money and
debt (4)
5 M1 8.2 54.0
6 M2 7.7 25.2
7 M3 -.3 22.6
8 Debt 5.5 n.a.
Nontransaction
components
9 In M2 (5) 7.5 17.3
10 In M3 only (6) -17.7 16.8
Time and savings
deposits
Commercial banks
11 Savings, including
MMDAs 24.6 31.5
12 Small time (7) -9.1 -10.4
13 Large time (8,9) -24.7 -4.0
Thrift institutions
14 Savings, including
MMDAs 25.7 24.3
15 Small time (7) -12.3 -6.6
16 Large time (8) 29.0 12.6
Money market mutual
funds
17 Retail -10.5 173.0
18 Institution-only -20.9 52.9
Repurchase agreements
and eurodollars
19 Repurchase agree-
ments (10) -11.9 -40.8
20 Eurodollars (10) -14.8 17.7
Debt components (4)
21 Federal 7.6 n.a.
22 Nonfederal 5.1 n.a.
(1.) Unless otherwise noted, rates of change are calculated from
average amounts outstanding during preceding month or quarter.
(2.) Figures incorporate adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements (See also
table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock,
plus (3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all weekly reporters
whose vault cash exceeds their required reserves) the seasonally
adjusted, break-adjusted difference between current vault cash and the
amount applied to satisfy current reserve requirements.
(4.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign
banks and official institutions, less cash items in the process of
collection and Federal Reserve float, and (4) other checkable deposits
(OCDs), consisting of negotiable order of withdrawal (NOW) and
automatic transfer service (ATS) accounts at depository institutions,
credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted
separately.
M2: M1 plus (1) savings (including MMDAs), (2) small-denomination time
deposits (time deposits--including retail RPs--in amounts of less than
$100,000), and (3) balances in retail money market mutual funds.
Excludes individual retirement accounts (IRAs) and Keogh balances at
depository institutions and money market funds. Seasonally adjusted M2
is calculated by summing savings deposits, small-denomination time
deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds, (3) RP
liabilities (overnight and term) issued by all depository
institutions, and (4) eurodollars (overnight and term) held by U.S.
residents at foreign branches of U.S. banks worldwide and at all
banking offices in the United Kingdom and Canada. Excludes amounts held
by depository institutions, the U.S. government, money market funds,
and foreign banks and official institutions. Seasonally adjusted M3 is
calculated by summing large time deposits, institutional money fund
balances, RP liabilities, and eurodollars, each seasonally adjusted
separately, and adding this result to seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government, not
including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally adjusted
separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by
depository institutions, and (4) eurodollars (overnight and term) of
U.S. addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small
time deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(10.) Includes both overnight and term.
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT (1)
Millions of dollars
Average of
daily figures
Factor 2001
July Aug. Sept.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 593,722 599,962 628,193
U.S. government
securities (2)
2 Bought outright--
System account
(3) 534,518 539,769 533,581
3 Held under repur-
chase agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repur-
chase agreements 0 0 0
6 Repurchase agreements
--triparty (4) 21,095 22,971 44,704
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 113 23 3,344
9 Seasonal credit 177 165 89
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 521 35 7,551
13 Other Federal Reserve
assets 37,287 36,989 38,914
14 Gold stock 11,044 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,700 32,846 (r) 32,984
ABSORBING RESERVE FUNDS
17 Currency in circulation 601,087 607,335 (r) 613,474
18 Reverse repurchase
agreements--triparty
(4) 0 0 0
19 Treasury cash holdings 421 413 424
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 5,127 5,040 6,644
21 Foreign 92 89 292
22 Service-related
balances and
adjustments 7,338 7,558 7,796
23 Other 302 303 342
24 Other Federal Reserve
liabilities and
capital 17,889 18,220 19,081
25 Reserve balances with
Federal Reserve Banks
(5) 7,408 7,092 26,367
End-of-month figures
July Aug. Sept.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 600,662 608,399 619,548
U.S. government
securities (2)
2 Bought outright--
System account
(3) 535,578 541,807 534,136
3 Held under repur-
chase agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repur-
chase agreements 0 0 0
6 Repurchase agreements
--triparty
(4) 26,350 29,755 47,880
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 3 6 7
9 Seasonal credit 197 117 81
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 917 463 -549
13 Other Federal Reserve
assets 37,606 36,241 37,983
14 Gold stock 11,044 11,044 11,045
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency out-
standing 32,726 32,957 (r) 33,013
ABSORBING RESERVE FUNDS
17 Currency in circulation 604,179 613,266 (r) 612,069
18 Reverse repurchase
agreements--triparty
(4) 0 0 0
19 Treasury cash holdings 418 416 422
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 5,592 5,533 9,796
21 Foreign 84 80 609
22 Service-related
balances and
adjustments 7,362 7,569 (r) 8,016
23 Other 330 276 191
24 Other Federal Reserve
liabilities and
capital 18,219 18,139 17,875
25 Reserve balances with
Federal Reserve Banks
(5) 10,448 9,321 (r) 16,829
Average of daily figures for
week ending on date indicated
Factor 2001
Aug. 15 Aug. 22 Aug. 29
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 598,602 601,169 600,575
U.S. government
securities (2)
2 Bought outright--
System account
(3) 539,546 540,821 541,874
3 Held under repur-
chase agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repur-
chase agreements 0 0 0
6 Repurchase agreements
--triparty (4) 20,669 24,553 22,505
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 7 10 37
9 Seasonal credit 185 164 139
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 3 -70 -99
13 Other Federal Reserve
assets 38,183 35,680 36,110
14 Gold stock 11,044 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 32,819 (r) 32,865 (r) 32,911 (r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 606,769 (r) 607,329 (r) 608,577 (r)
18 Reverse repurchase
agreements--triparty
(4) 0 0 0
19 Treasury cash holdings 416 412 410
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 5,073 5,313 5,001
21 Foreign 78 72 106
22 Service-related
balances and
adjustments 7,453 7,485 (r) 7,718 (r)
23 Other 311 305 291
24 Other Federal Reserve
liabilities and
capital 18,377 18,463 18,117
25 Reserve balances with
Federal Reserve Banks
(5) 6,187 7,898 (r) 6,510 (r)
Wednesday figures
Aug. 15 Aug. 22 Aug. 29
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 602,848 611,079 603,499
U.S. government
securities (2)
2 Bought outright--
System account
(3) 539,746 540,778 542,873
3 Held under repur-
chase agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repur-
chase agreements 0 0 0
6 Repurchase agreements
--triparty
(4) 27,345 34,265 24,755
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 1 23 138
9 Seasonal credit 191 147 136
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 152 -99 -293
13 Other Federal Reserve
assets 35,403 35,957 35,881
14 Gold stock 11,044 11,044 11,044
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency out-
standing 32,819 (r) 32,865 (r) 32,911 (r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 608,022 (r) 609,063 (r) 611,239 (r)
18 Reverse repurchase
agreements--triparty
(4) 0 0 0
19 Treasury cash holdings 412 409 416
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 4,069 5,115 4,675
21 Foreign 71 75 151
22 Service-related
balances and
adjustments 7,453 7,485 (r) 7,718 (r)
23 Other 322 285 282
24 Other Federal Reserve
liabilities and
capital 18,240 17,924 17,848
25 Reserve balances with
Federal Reserve Banks
(5) 10,323 16,833 (r) 7,324 (r)
Average of daily figures for
week ending on date indicated
Factor 2001
Sept. Sept. Sept. Sept.
5 12 19 26
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 608,925 621,696 671,614 611,158
U.S. government
securities (2)
2 Bought outright--
System account
(3) 542,052 540,478 523,359 530,998
3 Held under repur-
chase agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10 10
5 Held under repur-
chase agreements 0 0 0 0
6 Repurchase agreements
--triparty (4) 29,885 28,863 75,296 39,333
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 21 11,742 1,502 1,065
9 Seasonal credit 114 95 95 67
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 532 3,194 27,252 1,906
13 Other Federal Reserve
assets 36,311 37,315 44,101 37,778
14 Gold stock 11,044 11,044 11,043 11,043
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 32,957 32,971 32,985 32,999
ABSORBING RESERVE FUNDS
17 Currency in circulation 613,357 612,650 615,347 612,964
18 Reverse repurchase
agreements--triparty
(4) 0 0 0 0
19 Treasury cash holdings 416 422 426 429
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 5,252 5,350 6,291 8,462
21 Foreign 77 79 157 605
22 Service-related
balances and
adjustments 7,569 7,578 7,708 8,140
23 Other 287 467 382 298
24 Other Federal Reserve
liabilities and
capital 18,084 19,224 20,660 18,787
25 Reserve balances with
Federal Reserve Banks
(5) 10,084 22,140 66,872 7,716
Wednesday figures
Sept. Sept. Sept. Sept.
5 12 19 26
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 612,030 700,942 607,777 614,659
U.S. government
securities (2)
2 Bought outright--
System account
(3) 542,333 530,385 526,624 526,817
3 Held under repur-
chase agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10 10
5 Held under repur-
chase agreements 0 0 0 0
6 Repurchase agreements
--triparty
(4) 31,215 61,005 39,600 51,290
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 99 45,528 2,587 20
9 Seasonal credit 96 94 87 75
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 2,010 21,842 1,258 -1,560
13 Other Federal Reserve
assets 36,267 42,079 37,613 38,007
14 Gold stock 11,044 11,043 11,043 11,043
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency out-
standing 32,957 32,971 32,985 32,999
ABSORBING RESERVE FUNDS
17 Currency in circulation 614,523 615,843 615,464 613,590
18 Reverse repurchase
agreements--triparty
(4) 0 0 0 0
19 Treasury cash holdings 421 426 430 422
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 4,358 5,993 5,413 9,668
21 Foreign 73 69 258 635
22 Service-related
balances and
adjustments 7,569 7,578 7,708 8,140
23 Other 308 1,150 288 237
24 Other Federal Reserve
liabilities and
capital 17,672 22,122 20,071 17,760
25 Reserve balances with
Federal Reserve Banks
(5) 13,307 93,977 4,373 10,449
(1.) Amounts of cash held as reserves are shown in table 1.12, line 2.
(2.) Includes securities loaned--fully guaranteed by U.S. government
securities pledged with Federal Reserve Banks--and excludes securities
sold and scheduled to be bought back under matched sale-purchase
transactions.
(3.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
(4.) Cash value of agreements arranged through third-party custodial
banks. These agreements are collateralized by U.S. government and
federal agency securities.
(5.) Excludes required clearing balances and adjustments to
compensate for float.
1.12 RESERVES AND BORROWINGS Depository Institutions (1)
Millions of dollars
Prorated monthly averages of
biweekly averages
Reserve
classification 1998 1999 2000 2001
Dec. Dec. Dec. Mar.
1 Reserve balances with
Reserve Banks (2) 9,026 5,262 7,159 6,737
2 Total vault cash (3) 44,294 60,619 45,228 44,105
3 Applied vault cash
(4) 36,183 36,392 31,381 30,978
4 Surplus vault cash
(5) 8,111 24,227 13,847 13,128
5 Total reserves (6) 45,209 41,654 38,540 37,715
6 Required reserves 43,695 40,357 37,216 36,329
7 Excess reserve
balances at
Reserve Banks (7) 1,514 1,297 1,325 1,385
8 Total borrowing at
Reserve Banks 117 320 210 58
9 Adjustment 101 179 99 38
10 Seasonal 15 67 111 20
11 Special Liquidity
Facility (8) 0 74 0 ...
12 Extended credit (9) 0 0 0 0
Prorated monthly averages
of biweekly averages
Reserve
classification 2001
Apr. May June
1 Reserve balances with
Reserve Banks (2) 6,863 7,610 7,058
2 Total vault cash (3) 43,657 43,263 43,133
3 Applied vault cash
(4) 31,728 31,772 31,175
4 Surplus vault cash
(5) 11,929 11,491 11,958
5 Total reserves (6) 38,591 39,382 38,233
6 Required reserves 37,314 38,363 36,873
7 Excess reserve
balances at
Reserve Banks (7) 1,277 1,019 1,360
8 Total borrowing at
Reserve Banks 51 213 229
9 Adjustment 15 134 110
10 Seasonal 35 79 120
11 Special Liquidity
Facility (8) ... ... ...
12 Extended credit (9) 0 0 0
Prorated monthly averages of
biweekly averages
Reserve
classification 2001
July Aug. (r) Sept.
1 Reserve balances with
Reserve Banks (2) 7,674 7,564 25,578
2 Total vault cash (3) 43,909 (r) 44,010 43,464
3 Applied vault cash
(4) 31,622 32,056 31,938
4 Surplus vault cash
(5) 12,287 (r) 11,953 11,526
5 Total reserves (6) 39,296 39,621 57,516
6 Required reserves 37,889 38,386 38,478
7 Excess reserve
balances at
Reserve Banks (7) 1,407 1,234 19,038
8 Total borrowing at
Reserve Banks 283 183 3,385
9 Adjustment 109 19 3,292
10 Seasonal 174 164 93
11 Special Liquidity
Facility (8) ... ... ...
12 Extended credit (9) 0 0 0
Biweekly averages of daily figures
for two-week periods ending on
dates indicated
Reserve
classification 2001
May 30 June 13 June 27 July 11
1 Reserve balances with
Reserve Banks (2) 8,159 6,756 7,275 7,357
2 Total vault cash (3) 43,900 42,155 43,811 44,209
3 Applied vault cash
(4) 32,530 30,268 31,963 31,432
4 Surplus vault cash
(5) 11,370 11,888 11,848 12,777
5 Total reserves (6) 40,689 37,024 39,238 38,789
6 Required reserves 39,582 35,775 37,818 37,227
7 Excess reserve
balances at
Reserve Banks (7) 1,107 1,248 1,420 1,562
8 Total borrowing at
Reserve Banks 97 295 166 244
9 Adjustment 13 195 36 89
10 Seasonal 85 101 130 155
11 Special Liquidity
Facility (8) ... ... ... ...
12 Extended credit (9) 0 0 0 0
Biweekly averages of daily figures
for two-week periods ending
on dates indicated
Reserve
classification 2001
July 25 Aug. 8 Aug. 22
1 Reserve balances with
Reserve Banks (2) 7,935 7,648 7,051 (r)
2 Total vault cash (3) 43,327 (r) 44,719 (r) 44,328 (r)
3 Applied vault cash
(4) 31,480 32,300 32,119 (r)
4 Surplus vault cash
(5) 11,847 (r) 12,419 (r) 12,210 (r)
5 Total reserves (6) 39,415 39,948 39,170
6 Required reserves 38,027 38,781 38,084 (r)
7 Excess reserve
balances at
Reserve Banks (7) 1,387 1,167 1,086
8 Total borrowing at
Reserve Banks 344 214 184
9 Adjustment 159 27 9
10 Seasonal 185 188 175
11 Special Liquidity
Facility (8) ... ... ...
12 Extended credit (9) 0 0 0
Biweekly averages of daily figures
for two-week periods ending on
dates indicated
Reserve
classfication 2001
Sept. 5 (r) Sept. 19 Oct. 3
1 Reserve balances with
Reserve Banks (2) 8,288 44,481 9,378
2 Total vault cash (3) 42,885 43,032 44,277
3 Applied vault cash
(4) 31,744 30,974 33,255
4 Surplus vault cash
(5) 11,141 12,059 11,022
5 Total reserves (6) 40,032 75,455 42,633
6 Required reserves 38,507 37,280 39,991
7 Excess reserve
balances at
Reserve Banks (7) 1,524 38,174 2,643
8 Total borrowing at
Reserve Banks 156 6,717 613
9 Adjustment 29 6,622 538
10 Seasonal 127 95 75
11 Special Liquidity
Facility (8) ... ... ...
12 Extended credit (9) 0 0 0
(1.) Data in this table also appear in the Board's H.3 (502)
weekly statistical release. For ordering address, see inside
front cover. Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to
compensate for float and includes other off-balance-sheet "as-of"
adjustments.
(3.) Vault cash eligible to satisfy reserve requirements. It
includes only vault cash held by those banks and thrift institutions
that are not exempt from reserve requirements. Dates refer to the
maintenance periods in which the vault cash can be used to satisfy
reserve requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves
exceed their vault cash) plus the amount of vault cash applied
during the maintenance period by "nonbound" institutions (that is,
those whose vault cash exceeds their required reserves) to satisfy
current reserve requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus
applied vault cash (line 3).
(7.) Total reserves (line 5) less required reserves (line 6).
(8.) Borrowing at the discount window under the terms and
conditions established for the Century Date Change Special
Liquidity Facility in effect from October 1, 1999, through
April 7, 2000.
(9.) Consists of borrowing at the discount window under the
terms and conditions established for the extended credit program
to help depository institutions deal with sustained liquidity
pressures. Because there is not the same need to repay such
borrowing promptly as with traditional short-term adjustment
credit, the money market effect of extended credit is
similar to that of nonborrowed reserves.
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Adjustment credit (1)
Federal Reserve On Effective Previous
Bank 11/09/01 date rate
Boston 1.50 11/8/01 2.00
New York 1.50 11/6/01 2.00
Philadelphia 1.50 11/7/01 2.00
Cleveland 1.50 11/8/01 2.00
Richmond 1.50 11/6/01 2.00
Atlanta 1.50 11/8/01 2.00
Chicago 1.50 11/7/01 2.00
St. Louis 1.50 11/7/01 2.00
Minneapolis 1.50 11/7/01 2.00
Kansas City 1.50 11/8/01 2.00
Dallas 1.50 11/8/01 2.00
San Francisco 1.50 11/6/01 2.00
Current and previous levels
Seasonal credit (2)
Federal Reserve On Effective Previous
Bank 11/09/01 date rate
Boston 2.35 11/01/01 2.40
New York 2.35 11/01/01 2.40
Philadelphia 2.35 11/01/01 2.40
Cleveland 2.35 11/01/01 2.40
Richmond 2.35 11/01/01 2.40
Atlanta 2.35 11/01/01 2.40
Chicago 2.35 11/01/01 2.40
St. Louis 2.35 11/01/01 2.40
Minneapolis 2.35 11/01/01 2.40
Kansas City 2.35 11/01/01 2.40
Dallas 2.35 11/01/01 2.40
San Francisco 2.35 11/01/01 2.40
Current and previous levels
Extended credit (3)
Federal Reserve On Effective Previous
Bank 11/09/01 date date
Boston 2.85 11/01/01 2.90
New York 2.85 11/01/01 2.90
Philadelphia 2.85 11/01/01 2.90
Cleveland 2.85 11/01/01 2.90
Richmond 2.85 11/01/01 2.90
Atlanta 2.85 11/01/01 2.90
Chicago 2.85 11/01/01 2.90
St. Louis 2.85 11/01/01 2.90
Minneapolis 2.85 11/01/01 2.90
Kansas City 2.85 11/01/01 2.90
Dalla 2.85 11/01/01 2.90
San Francisco 2.85 11/01/01 2.90
Range of rates for adjustment credit in recent years (4)
Effective date Range (or F.R. Banks
level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1981 12 12
1982--July 20 11.5-12 11.5
23 11.5 11.5
Aug. 2 11-11.5 11
3 11 11
16 10.5 10.5
27 10-10.5 10
30 10 10
Oct. 12 9.5-10 9.5
13 9.5 9.5
Nov. 22 9-9.5 9
26 9 9
Dec. 14 8.5-9 9
15 8.5-9 8.5
17 8.5 8.5
1984--Apr. 9 8.5-9 9
13 9 9
Nov. 21 8.5-9 8.5
26 8.5 8.5
Dec. 24 8 8
1985--May 20 7.5-8 7.5
24 7.5 7.5
1986--Mar. 7 7-7.5 7
10 7 7
Apr. 21 6.5-7 6.5
23 6.5 6.5
July 11 6 6
Aug. 21 5.5-6 5.5
22 5.5 5.5
1987--Sept. 4 5.5-6 6
11 6 6
1988--Aug. 9 6-6.5 6.5
11 6.5 6.5
1989--Feb. 24 6.5-7 7
27 7 7
1990--Dec. 19 6.5 6.5
1991--Feb. 1 6-6.5 6
4 6 6
Apr. 30 5.5-6 5.5
May 2 5.5 5.5
1991--Sept. 13 5-5.5 5
17 5 5
Nov. 6 4.5-5 4.5
7 4.5 4.5
Dec. 20 3.5-4.5 3.5
24 3.5 3.5
1992--July 2 3-3.5 3
7 3 3
1994--May 17 3-3.5 3.5
18 3.5 3.5
Aug. 16 3.5-4 4
18 4 4
Nov. 15 4-4.75 4.75
17 4.75 4.75
1995--Feb. 1 4.75-5.25 5.25
9 5.25 5.25
1996--Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998--Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000--Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
2001--Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001--May 15 3.50-4.00 3.50
17 3.50 3.50
June 27 3.25-350 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
In effect Nov. 9, 2001 1.50 1.50
(1.) Available on a short term basis to help depository institutions
meet temporary needs for funds that cannot be met through reasonable
alternative sources. The highest rate established for loans to
depository institutions may be charged on adjustment credit loans of
unusual size that result from a major operating problem at the
borrower's facility.
(2.) Available to help relatively small depository institutions meet
regular seasonal needs for funds that arise from a clear pattern of
intrayearly movements in their deposits and loans and that cannot
be met through special industry lenders. The discount rate on
seasonal credit takes into account rates charged by market sources
of funds and ordinarily is reestablished on the first business day
of each two-week reserve maintenance period; however, it is never less
than the discount rate applicable to adjustment credit.
(3.) May be made available to depository institutions when similar
assistance is not reasonably available from other sources, including
special industry lenders. Such credit may be provided when exceptional
circumstances (including sustained deposit drains, impaired access
to money market funds, or sudden deterioration in loan repayment
performance) or practices involved only a particular institution,
or to meet the needs of institutions experiencing difficulties
adjusting to changing market conditions over a longer period
(particularly at times of deposit disintermediation). The discount
rate applicable to adjustment credit ordinarily is charged on
extended-credit loans outstanding less than thirty days; however, at
the discretion of the Federal Reserve Bank, this time period may
be shortened. Beyond this initial period, a flexible rate somewhat
above rates charged on market sources of funds is charged. The rate
ordinarily is reestablished on the first business day of each two-week
reserve maintenance period, but it is never less than the discount
rate applicable to adjustment credit plus 50 basis points.
(4.) For earlier data, see the following publications of the Board of
Governors; Banking and Monetary Statistics, 1914-1941, and 1941-1970;
and the Annual Statistical Digest, 1970-1979, and 1980-1989. See also
the Board's Statistics: Releases and Historical Data web pages (http://
www.federalreserve.gov/releases/H15/data/htm).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirements
Type of deposit
Percentage of Effective
deposits date
Net transaction accounts (2)
1 $0 million-$42.8 million (3) 3 12/30/99
2 More than $42.8 million (4) 10 12/30/99
3 Nonpersonal time deposits (5) 0 12/27/90
4 Eurocurrency liabilities (6) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly,
on a pass-through basis, with certain approved institutions. For
previous reserve requirements, see earlier editions of the Annual
Report or the Federal Reserve Bulletin. Under the Monetary Control
Act of 1980, depository institutions include commercial banks,
savings banks, savings and loan associations, credit unions,
agencies and branches of foreign banks, and Edge Act corporations.
(2.) Transaction accounts include all deposits against which the
account holder is permitted to make withdrawals by negotiable or
transferable instruments, payment orders of withdrawal, or telephone
or preauthorized transfers for the purpose of making payments to
third persons or others. However, accounts subject to the rules that
permit no more than six preauthorized, automatic, or other transfers
per month (of which no more than three may be by check, draft, debit
card, or similar order payable directly to third parties) are savings
deposits, not transaction accounts.
(3.) The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change
in transaction accounts held by all depository institutions, determined
as of June 30 of each year. Effective with the reserve maintenance
period beginning December 28, 2000, for depository institutions
that report weekly, and with the period beginning January 18, 2001,
for institutions that report quarterly, the amount was decreased
from $44.3 million to $42.8 million.
Under the Garn-St. Germain Depository Institutions Act of 1982, the
Board adjusts the amount of reservable liabilities subject to a zero
percent reserve requirement each year for the succeeding calendar year
by 80 percent of the percentage increase in the total reservable
liabilities of all depository institutions, measured on an annual
basis as of June 30. No corresponding adjustment is made in the
event of a decrease. The exemption applies only to accounts that would
be subject to a 3 percent reserve requirement. Effective with the
reserve maintenance period beginning December 28, 2000, for depository
institutions that report weekly, and with the period beginning January
18, 2001, for institutions that report quarterly, the exemption was
raised from $5.0 million to $5.5 million.
(4.) The reserve requirement was reduced from 12 percent to 10 percent
on Apr. 2, 1992, for institutions that report weekly, and on Apr. 16,
1992, for institutions that report quarterly.
(5.) For institutions that report weekly, the reserve requirement on
nonpersonal time deposits with an original maturity of less than 1.5
years was reduced from 3 percent to 1.5 percent for the maintenance
period that began Dec. 13, 1990, and to zero for the maintenance period
that began Dec. 27, 1990, For institutions that report quarterly, the
reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years was reduced from 3 percent to zero on
Jan. 17, 1991.
The reserve requirement on nonpersonal time deposits with an original
maturity of 1.5 years or more has been zero since Oct. 6, 1983.
(6.) The reserve requirement on eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as
the reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
2001
Type of transaction
and maturity 1998 1999 2000 Feb.
U.S. TREASURY
SECURITIES (2)
Outright tran-
sactions (ex-
cluding matched
transactions)
Treasury bills
1 Gross purchases 3,550 0 8,676 2,683
2 Gross sales 0 0 0 0
3 Exchanges 450,835 464,218 477,904 42,767
4 For new bills 450,835 464,218 477,904 42,767
5 Redemptions 2,000 0 24,522 638
Others within one
year
6 Gross purchases 6,297 11,895 8,809 1,605
7 Gross sales 0 0 0 0
8 Maturity shifts 46,062 50,590 62,025 5,609
9 Exchanges -49,434 -53,315 -54,656 -6,799
10 Redemptions 2,676 1,429 3,779 1,529
One to five years
11 Gross purchases 12,901 19,731 14,482 2,983
12 Gross sales 0 0 0 0
13 Maturity shifts -37,777 -44,032 -52,068 -2,784
14 Exchanges 37,154 42,604 46,177 4,945
Five to ten years
15 Gross purchases 2,294 4,303 5,871 0
16 Gross sales 0 0 0 0
17 Maturity shifts -5,908 -5,841 -6,801 -1,855
18 Exchanges 7,439 7,583 6,585 971
More than ten
years
19 Gross purchases 4,884 9,428 5,833 495
20 Gross sales 0 0 0 0
21 Maturity shifts -2,377 -717 -3,155 -971
22 Exchanges 4,842 3,139 1,894 883
All maturities
23 Gross purchases 29,926 45,357 43,670 7,766
24 Gross sales 0 0 0 0
25 Redemptions 4,676 1,429 28,301 2,166
Matched tran-
sactions
26 Gross purchases 4,430,457 4,413,430 4,399,257 320,060
27 Gross sales 4,434,358 4,431,685 4,381,188 322,056
Repurchase
agreements
28 Gross purchases 512,671 281,599 0 0
29 Gross sales 514,186 301,273 0 0
30 Net change in
U.S. Treasury
securities 19,835 5,999 33,439 3,604
FEDERAL AGENCY
OBLIGATIONS
Outright
transactions
31 Gross purchases 0 0 0 0
32 Gross sales 25 0 0 0
33 Redemptions 322 157 51 120
Repurchase
agreements
34 Gross purchases 284,316 360,069 0 0
35 Gross sales 276,266 370,772 0 0
36 Net change in
federal agency
obligations 7,703 -10,859 -51 -120
Reverse
repurchase
agreements
37 Gross purchases 0 0 0 0
38 Gross sales 0 0 0 0
Repurchase
agreements
39 Gross purchases 0 304,989 890,236 67,655
40 Gross sales 0 164,349 987,501 62,910
41 Net change in
triparty
obligations 0 140,640 -97,265 4,745
42 Total net change
in System Open
Market Account 27,538 135,780 -63,877 8,229
2001
Type of transaction
and maturity Mar. Apr. May June
U.S. TREASURY
SECURITIES (2)
Outright tran-
sactions (ex-
cluding matched
transactions)
Treasury bills
1 Gross purchases 579 308 624 2,165
2 Gross sales 0 0 0 0
3 Exchanges 46,712 38,317 47,112 40,363
4 For new bills 46,712 38,317 47,112 40,363
5 Redemptions 211 3,537 3,939 0
Others within one
year
6 Gross purchases 67 3,027 2,174 1,410
7 Gross sales 0 0 0 0
8 Maturity shifts 0 12,204 8,117 0
9 Exchanges 0 -7,000 -8,965 0
10 Redemptions 0 4,368 2,287 0
One to five years
11 Gross purchases 1,883 4,480 2,685 1,428
12 Gross sales 0 0 0 0
13 Maturity shifts 0 -12,204 -1,913 0
14 Exchanges 0 7,000 6,508 0
Five to ten years
15 Gross purchases 0 1,390 657 0
16 Gross sales 0 0 0 0
17 Maturity shifts 0 0 -5,130 0
18 Exchanges 0 0 2,457 0
More than ten
years
19 Gross purchases 1,000 913 1,241 1,419
20 Gross sales 0 0 0 0
21 Maturity shifts 0 0 -1,074 0
22 Exchanges 0 0 0 0
All maturities
23 Gross purchases 3,529 10,118 7,380 6,422
24 Gross sales 0 0 0 0
25 Redemptions 211 7,905 6,226 0
Matched tran-
sactions
26 Gross purchases 396,029 381,667 398,039 367,462
27 Gross sales 395,151 381,895 397,600 366,411
Repurchase
agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in
U.S. Treasury
securities 4,196 1,984 1,592 7,472
FEDERAL AGENCY
OBLIGATIONS
Outright
transactions
31 Gross purchases 0 0 0 0
32 Gross sales 0 0 0 0
33 Redemptions 0 0 0 0
Repurchase
agreements
34 Gross purchases 0 0 0 0
35 Gross sales 0 0 0 0
36 Net change in
federal agency
obligations 0 0 0 0
Reverse
repurchase
agreements
37 Gross purchases 0 0 0 0
38 Gross sales 0 0 0 0
Repurchase
agreements
39 Gross purchases 86,472 85,166 120,135 65,005
40 Gross sales 88,142 82,154 114,832 72,065
41 Net change in
triparty
obligations -1,670 3,012 5,303 -7,060
42 Total net change
in System Open
Market Account 2,526 4,996 6,895 412
2001
Type of transaction
and maturity July Aug.
U.S. TREASURY
SECURITIES (2)
Outright tran-
sactions (ex-
cluding matched
transactions)
Treasury bills
1 Gross purchases 718 2,899
2 Gross sales 0 0
3 Exchanges 42,001 55,231
4 For new bills 42,001 55,231
5 Redemptions 0 0
Others within one
year
6 Gross purchases 235 1,385
7 Gross sales 0 0
8 Maturity shifts 7,088 9,379
9 Exchanges -7,667 -6,873
10 Redemptions 4,668 1,055
One to five years
11 Gross purchases 4,193 810
12 Gross sales 0 0
13 Maturity shifts 1,838 -9,379
14 Exchanges 7,667 5,290
Five to ten years
15 Gross purchases 756 935
16 Gross sales 0 0
17 Maturity shifts -8,926 1,043
18 Exchanges 0 1,043
More than ten
years
19 Gross purchases 815 720
20 Gross sales 0 0
21 Maturity shifts 0 -1,043
22 Exchanges 0 540
All maturities
23 Gross purchases 6,716 6,749
24 Gross sales 0 0
25 Redemptions 4,668 1,055
Matched tran-
sactions
26 Gross purchases 392,721 406,143
27 Gross sales 394,381 405,627
Repurchase
agreements
28 Gross purchases 0 0
29 Gross sales 0 0
30 Net change in
U.S. Treasury
securities 388 6,211
FEDERAL AGENCY
OBLIGATIONS
Outright
transactions
31 Gross purchases 0 0
32 Gross sales 0 0
33 Redemptions 0 0
Repurchase
agreements
34 Gross purchases 0 0
35 Gross sales 0 0
36 Net change in
federal agency
obligations 0 0
Reverse
repurchase
agreements
37 Gross purchases 0 0
38 Gross sales 0 0
Repurchase
agreements
39 Gross purchases 106,355 103,255
40 Gross sales 103,255 99,850
41 Net change in
triparty
obligations 3,100 3,405
42 Total net change
in System Open
Market Account 3,488 9,616
(1.) Sales, redemptions, and negative figures reduce holdings of the
System Open Market Account; all other figures increase such holdings.
(2.) Transactions exclude changes in compensation for the effects of
inflation on the principal of inflation-indexed securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Note Statements (1)
Millions of dollars
Wednesday
2001
Aug. Sept. Sept. Sept.
Account 29 5 12 19
Consolidated condition statement
ASSETS
1 Gold certificate account 11,044 11,044 11,043 11,043
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,106 1,079 1,081 1,102
Loans
4 To depository
institutions 274 195 45,622 2,673
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 24,755 31,215 61,005 39,600
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 542,873 542,333 530,385 526,624
11 Bought outright (4) 542,873 542,333 530,385 526,624
12 Bills 184,710 184,129 171,336 167,582
13 Notes 257,099 256,194 257,040 257,036
14 Bonds 101,064 102,010 102,008 102,005
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and
securities 567,911 573,753 637,022 568,907
17 Items in process of
collection 6,619 13,213 30,928 12,433
18 Bank premises 1,512 1,510 1,510 1,510
Other assets
19 Denominated in foreign
currencies (5) 15,300 15,079 20,539 15,660
20 All other (6) 19,469 19,508 25,689 20,335
21 Total assets 625,160 637,387 730,013 633,190
LIABILITIES
22 Federal Reserve notes 579,849 583,065 584,378 584,010
23 Reverse repurchase ag-
reements--tripany (2) 0 0 0 0
24 Total deposits 20,634 25,676 115,894 21,101
25 Depository institutions 15,526 20,937 108,682 15,141
26 U.S. Treasury--General
account 4,675 4,358 5,993 5,413
27 Foreign--Official
accounts 151 73 69 258
28 Other 282 308 1,150 288
29 Deferred credit items 6,829 10,974 7,619 8,008
30 Other liabilities and
accrued dividends (7) 3,055 3,049 7,189 4,575
31 Total liabilities 610,367 622,764 715,080 617,694
CAPITAL ACCOUNTS
32 Capital paid in 7,190 7,192 7,197 7,202
33 Surplus 6,747 6,735 6,743 6,764
34 Other capital accounts 855 696 992 1,530
35 Total liabilities and
capital accounts 625,160 637,387 730,013 633,190
MEMO
36 Marketable U.S. Treasury
securities held in
custody for foreign
and international
accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued
to Banks) 739,484 739,818 740,653 740,984
38 LESS: Held by Federal
Reserve Banks 159,635 156,753 156,275 156,974
39 Federal Reserve notes,
net 579,849 583,065 584,378 584,010
Collateral held against
notes, net
40 Gold certificate account 11,044 11,044 11,043 11,043
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 0 0 4,533
43 U.S. Treasury and agency
securities 566,605 569,822 571,135 566,234
44 Total collateral 579,849 583,065 584,378 584,010
Wednes-
day End of month
2001 2001
Sept.
Account 26 July Aug. Sept.
Consolidated condition statement
ASSETS
1 Gold certificate account 11,043 11,044 11,044 11,045
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,116 1,109 1,096 1,141
Loans
4 To depository
institutions 95 201 123 88
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty obligations
7 Repurchase agreements--
triparty (2) 51,290 26,350 29,775 47,880
Federal agency
obligations (3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities (3) 526,817 535,578 541,807 534,136
11 Bought outright (4) 526,817 535,578 541,807 534,136
12 Bills 167,782 180,184 183,600 175,104
13 Notes 257,032 254,627 256,196 257,030
14 Bonds 102,003 100,767 102,012 102,002
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and
securities 578,212 562,139 571,694 582,114
17 Items in process of
collection 7,893 10,421 5,821 5,089
18 Bank premises 1,510 1,505 1,510 1,508
Other assets
19 Denominated in foreign
currencies (5) 15,561 14,665 15,365 15,366
20 All other (6) 20,784 21,251 19,203 20,947
21 Total assets 638,318 624,333 627,932 639,410
LIABILITIES
22 Federal Reserve notes 582,129 572,980 581,820 580,619
23 Reverse repurchase ag-
reements--tripany (2) 0 0 0 0
24 Total deposits 31,067 23,733 22,808 35,532
25 Depository institutions 20,527 17,727 16,918 24,937
26 U.S. Treasury--General
account 9,668 5,592 5,533 9,796
27 Foreign--Official
accounts 635 84 80 609
28 Other 237 330 276 191
29 Deferred credit items 7,363 9,401 5,166 5,384
30 Other liabilities and
accrued dividends (7) 2,944 3,076 3,137 2,971
31 Total liabilities 623,502 609,191 612,931 624,506
CAPITAL ACCOUNTS
32 Capital paid in 7,208 7,164 7,191 7,266
33 Surplus 6,760 6,723 6,747 6,741
34 Other capital accounts 848 1,256 1,063 896
35 Total liabilities and
capital accounts 638,318 624,333 627,932 639,410
MEMO
36 Marketable U.S. Treasury
securities held in
custody for foreign
and international
accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued
to Banks) 741,775 738,388 739,560 742,539
38 LESS: Held by Federal
Reserve Banks 159,646 165,409 157,740 161,920
39 Federal Reserve notes,
net 582,129 572,980 581,820 580,619
Collateral held against
notes, net
40 Gold certificate account 11,043 11,044 11,044 11,045
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 0 0 0 0
43 U.S. Treasury and agency
securities 568,885 559,736 568,576 567,374
44 Total collateral 582,129 572,980 581,820 580,619
(1.) Some of the data in this table also appear in the Board's H.4.1
(503) weekly statistical release. For ordering address, see inside
front cover.
(2.) Cash value of agreements arranged through third-party
custodial banks.
(3.) Face value of the securities.
(4.) Includes securities loaned--fully guaranteed by U.S. Treasury
securities pledged with Federal Reserve Banks--and includes
compensation that adjusts for the effects of inflation on
the principal of inflation-indexed securities. Excludes securities
sold and scheduled to be bought back under matched sale-purchase
transactions.
(5.) Valued monthly at market exchange rates.
(6.) Includes special investment account at the Federal Reserve
Bank of Chicago in Treasury bills maturing within ninety days.
(7.) Includes exchange-translation account reflecting the monthly
revaluation at market exchange rates of foreign exchange commitments.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of Loan
and Security Holding
Millions of dollars
Wednesday
2001
Type of holding and
maturity Aug. 29 Sept. 5 Sept. 12 Sept. 19
1 Total loans 274 195 45,622 2,673
2 Within fifteen days (1) 266 117 45,545 2,662
3 Sixteen days to ninety
days 8 78 77 12
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 542,873 542,333 530,385 526,624
6 Within fifteen days (1) 23,583 16,679 1,562 20,683
7 Sixteen days to ninety
days 111,288 118,504 120,849 98,641
8 Ninety-one days to one
year 132,942 131,525 131,504 130,836
9 One year to five years 141,985 141,453 142,304 142,304
10 Five years to ten years 55,433 55,583 55,579 55,576
11 More than ten years 77,642 78,589 78,586 78,584
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen days to ninety
days 0 0 0 0
15 Ninety-one days to one
year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
Wednesday End of month
2001 2001
Type of holding and
maturity Sept. 26 July Aug. Sept.
1 Total loans 95 201 123 88
2 Within fifteen days (1) 92 160 106 69
3 Sixteen days to ninety
days 3 41 17 19
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities (2) 526,817 535,578 541,807 534,137
6 Within fifteen days (1) 21,870 13,674 3,906 10,737
7 Sixteen days to ninety
days 98,372 111,161 125,620 117,454
8 Ninety-one days to one
year 130,118 135,091 136,653 129,491
9 One year to five years 142,304 144,732 141,453 142,304
10 Five years to ten years 55,572 53,824 55,584 55,571
11 More than ten years 78,581 77,095 78,590 78,581
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days (1) 0 0 0 0
14 Sixteen days to ninety
days 0 0 0 0
15 Ninety-one days to one
year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
(1.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(2.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND
MONETARY BASE (1)
Billions of dollars, averages of daily figures
1997 1998 1999 2000
Item Dec. Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 46.85 45.18 41.78 38.51
2 Nonborrowed reserves
(4) 46.52 45.07 41.46 38.30
3 Nonborrowed reserves
plus extended
credit (5) 46.52 45.07 41.46 38.30
4 Required reserves 45.16 43.67 40.48 37.18
5 Monetary base (6) 479.47 513.49 593.09 583.96
Not seasonally adjusted
6 Total reserves (7) 48.01 45.31 41.89 38.60
7 Nonborrowed reserves 47.69 45.19 41.57 38.39
8 Nonborrowed reserves
plus extended
credit (5) 47.69 45.19 41.57 38.39
9 Required reserves (8) 46.33 43.80 40.59 37.27
10 Monetary base (9) 484.98 518.27 600.72 590.20
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 47.92 45.21 41.65 38.54
12 Nonborrowed reserves 47.60 45.09 41.33 38.33
13 Nonborrowed reserves
plus extended
credit (5) 47.60 45.09 41.33 38.33
14 Required reserves 46.24 43.70 40.36 37.22
15 Monetary base (12) 491.79 525.06 608.02 597.12
16 Excess reserves (13) 1.69 1.51 1.30 1.33
17 Borrowings from the
Federal Reserve .32 .12 .32 .21
2001
Item Feb. Mar. Apr. May
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 38.87 38.26 38.79 38.89
2 Nonborrowed reserves
(4) 38.82 38.20 38.74 38.68
3 Nonborrowed reserves
plus extended
credit (5) 38.82 38.20 38.74 38.68
4 Required reserves 37.43 36.87 37.51 37.87
5 Monetary base (6) 591.12 592.42 595.93 599.09
Not seasonally adjusted
6 Total reserves (7) 39.38 37.76 38.66 39.46
7 Nonborrowed reserves 39.33 37.71 38.61 39.25
8 Nonborrowed reserves
plus extended
credit (5) 39.33 37.71 38.61 39.25
9 Required reserves (8) 37.95 36.38 37.38 38.44
10 Monetary base (9) 589.04 591.36 594.92 598.57
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 39.35 37.72 38.59 39.38
12 Nonborrowed reserves 39.30 37.66 38.54 39.17
13 Nonborrowed reserves
plus extended
credit (5) 39.30 37.66 38.54 39.17
14 Required reserves 37.92 36.33 37.31 38.36
15 Monetary base (12) 595.59 598.20 601.84 605.48
16 Excess reserves (13) 1.43 1.39 1.28 1.02
17 Borrowings from the
Federal Reserve .05 .06 .05 .21
2001
Item June July Aug. Sept.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (2)
1 Total reserves (3) 38.77 39.60 39.89 (r) 57.84
2 Nonborrowed reserves
(4) 38.55 39.32 39.71 54.45
3 Nonborrowed reserves
plus extended
credit (5) 38.55 39.32 39.71 54.45
4 Required reserves 37.41 38.19 38.66 38.80
5 Monetary base (6) 601.88 607.69 (r) 615.48 (r) 639.73
Not seasonally adjusted
6 Total reserves (7) 38.33 39.41 39.75 57.67
7 Nonborrowed reserves 38.10 39.13 39.57 54.29
8 Nonborrowed reserves
plus extended
credit (5) 38.10 39.13 39.57 54.29
9 Required reserves (8) 36.97 38.01 38.52 38.64
10 Monetary base (9) 601.69 608.23 (r) 614.51 (r) 637.97
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS (10)
11 Total reserves (11) 38.23 39.30 39.62 57.52
12 Nonborrowed reserves 38.00 39.01 39.44 54.13
13 Nonborrowed reserves
plus extended
credit (5) 38.00 39.01 39.44 54.13
14 Required reserves 36.87 37.89 38.39 38.48
15 Monetary base (12) 608.83 615.56 622.00 (r) 645.71
16 Excess reserves (13) 1.36 1.41 1.23 (r) 19.04
17 Borrowings from the
Federal Reserve .23 .28 .18 3.39
(1.) Latest monthly and biweekly figures are available from the Board's
H.3 (502) weekly statistical release. Historical data starting in 1959
and estimates of the effect on required reserves of changes in reserve
requirements are available from the Money and Reserves Projections
Section, Division of Monetary Affairs, Board of Governors of the
Federal Reserve System, Washington, DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements.
(See also table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves (line 4)
plus excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves equal
seasonally adjusted, break-adjusted total reserves (line 1) less total
borrowings of depository institutions from the Federal
Reserve (line 17).
(5.) Extended credit consists of borrowing at the discount window
under the terms and conditions established for the extended credit
program to help depository institutions deal with sustained liquidity
pressures. Because there is not the same need to repay such borrowing
promptly as with traditional short-term adjustment credit, the money
market effect of extended credit is similar to that of nonborrowed
reserves.
(6.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock,
plus (3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
seasonally adjusted, break-adjusted difference between current vault
cash and the amount applied to satisfy current reserve requirements.
(7.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(8.) To adjust required reserves for discontinuities that are due to
regulatory changes in reserve requirements, a multiplicative procedure
is used to estimate what required reserves would have been in past
periods had current reserve requirements been in effect. Break-adjusted
required reserves include required reserves against transactions
deposits and nonpersonal time and savings deposits (but not reservable
nondeposit liabilities).
(9.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component of the
money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those
weekly reporters whose vault cash exceeds their required reserves) the
break-adjusted difference between current vault cash and the amount
applied to satisfy current reserve requirements.
(10.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the effects of
discontinuities associated with regulatory changes in reserve
requirements.
(11.) Reserve balances with Federal Reserve Banks plus vault cash used
to satisfy reserve requirements.
(12.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2) required
clearing balances and adjustments to compensate for float at Federal
Reserve Banks, plus (3) the currency component of the money stock,
plus (4) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to
satisfy current reserve requirements. Since February 1984, currency
and vault cash figures have been measured over the computation periods
ending on Mondays.
(13.) Unadjusted total reserves (line 11) less unadjusted
required reserves (line 14).
1.21 MONEY STOCK AND DEBT MEASURES (1)
Billions of dollars, averages of daily figures
1997 1998 1999
Item Dec. Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,073.4 1,097.0 1,124.8
2 M2 4,031.9 4,385.9 4,653.3
3 M3 5,430.8 6,027.8 6,527.9
4 Debt 15,226.1 16,261.3 17,335.2
M1 components
5 Currency (3) 424.3 459.2 516.7
6 Travelers checks (4) 8.1 8.2 8.2
7 Demand deposits (5) 395.4 379.4 356.1
8 Other checkable deposits (6) 245.7 250.1 243.7
Nontransaction components
9 In M2 (7) 2,958.5 3,288.9 3,528.5
10 In M3 only (8) 1,399.0 1,641.9 1,874.6
Commercial banks
11 Savings deposits,
including MMDAs 1,021.1 1,185.8 1,287.0
12 Small time deposits (9) 625.5 626.4 635.2
13 Large time deposits (10,11) 517.4 575.2 648.3
Thrift institutions
14 Savings deposits,
including MMDAs 376.8 414.1 449.3
15 Small time deposits (9) 342.9 325.8 320.9
16 Large time deposits (10) 85.5 88.7 91.3
Money market mutual funds
17 Retail 592.1 736.8 836.2
18 Institution-only 391.8 531.8 623.5
Repurchase agreements and
eurodollars
19 Repurchase agreements (12) 254.3 294.5 338.2
20 Eurodollars (12) 150.0 151.8 173.3
Debt components
21 Federal debt 3,800.4 3,751.1 3,660.1
22 Nonfederal debt 11,425.6 12,510.2 13,675.1
Not seasonally adjusted
Measures (2)
23 M1 1,096.9 1,120.4 1,148.3
24 M2 4,053.2 4,408.2 4,677.3
25 M3 5,456.2 6,059.9 6,565.4
26 Debt 15,220.5 16,254.7 (r) 17,328.0
M1 components
27 Currency (3) 428.1 463.3 512.5
28 Travelers checks (4) 8.3 8.4 8.4
29 Demand deposits (5) 412.4 395.9 371.7
30 Other checkable deposits (6) 248.2 252.8 246.6
Nontransaction components
31 In M2 (7) 2,956.3 3,287.8 3,529.1
32 In M3 only (8) 1,403.0 1,651.8 1,888.1
Commercial banks
33 Savings deposits,
including MMDAs 1,020.4 1,186.0 1,288.5
34 Small time deposits (9) 625.3 626.5 635.4
35 Large time deposits (10,11) 516.8 574.5 647.7
Thrift institutions
36 Savings deposits,
including MMDAs 376.5 414.2 449.8
37 Small time deposits (9) 342.8 325.8 321.0
38 Large time deposits (10) 85.4 88.6 91.2
Money market mutual funds
39 Retail 591.3 735.2 834.3
40 Institution-only 398.9 543.7 638.4
Repurchase agreements and
eurodollars
41 Repurchase agreements (12) 249.5 290.4 334.7
42 Eurodollars (12) 152.3 154.5 176.0
Debt components
43 Federal debt 3,805.8 3,754.9 3,663.2
44 Nonfederal debt 11,414.8 12,499.7 13,664.9
2001
2000
Item Dec. June (r) July (r)
Seasonally adjusted
Measures (2)
1 M1 1,088.2 1,122.7 1,135.4
2 M2 4,945.1 5,214.3 5,253.5
3 M3 7,108.5 (r) 7,637.6 7,679.4
4 Debt 18,249.8 (r) 18,751.7 18,803.2
M1 components
5 Currency (3) 529.9 548.1 553.7
6 Travelers checks (4) 8.0 8.2 8.6
7 Demand deposits (5) 311.3 310.0 312.8
8 Other checkable deposits (6) 239.0 256.4 260.3
Nontransaction components
9 In M2 (7) 3,856.9 4,091.6 4,118.1
10 In M3 only (8) 2,163.4 (r) 2,423.3 2,425.9
Commercial banks
11 Savings deposits,
including MMDAs 1,421.7 1,564.6 1,580.9
12 Small time deposits (9) 699.5 680.6 672.1
13 Large time deposits (10,11) 726.5 712.1 705.4
Thrift institutions
14 Savings deposits,
including MMDAs 451.9 498.6 508.5
15 Small time deposits (9) 346.6 353.1 350.2
16 Large time deposits (10) 103.2 109.9 111.7
Money market mutual funds
17 Retail 937.2 994.7 1,006.4
18 Institution-only 769.3 1,008.5 1,015.3
Repurchase agreements and
eurodollars
19 Repurchase agreements (12) 367.3 (r) 378.1 374.3
20 Eurodollars (12) 197.1 214.8 219.3
Debt components
21 Federal debt 3,400.4 3,313.7 3,327.9
22 Nonfederal debt 14,849.4 (r) 15,438.0 15,475.3
Not seasonally adjusted
Measures (2)
23 M1 1,112.4 1,122.1 1,135.3
24 M2 4,973.7 5,197.0 5,227.1
25 M3 7,153.5 (r) 7,607.6 7,621.0
26 Debt 18,239.3 (r) 18,667.1 18,714.9
M1 components
27 Currency (3) 535.2 548.8 554.4
28 Travelers checks (4) 8.1 8.0 8.2
29 Demand deposits (5) 326.6 308.8 314.0
30 Other checkable deposits (6) 242.5 256.5 258.7
Nontransaction components
31 In M2 (7) 3,861.3 4,074.9 4,091.8
32 In M3 only (8) 2,179.8 (r) 2,410.6 2,393.9
Commercial banks
33 Savings deposits,
including MMDAs 1,426.4 1,567.2 1,579.4
34 Small time deposits (9) 699.8 677.0 670.4
35 Large time deposits (10,11) 725.8 715.2 703.6
Thrift institutions
36 Savings deposits,
including MMDAs 453.4 499.4 508.1
37 Small time deposits (9) 346.8 351.2 349.2
38 Large time deposits (10) 103.1 110.4 111.4
Money market mutual funds
39 Retail 935.0 980.2 984.7
40 Institution-only 787.2 986.9 988.0
Repurchase agreements and
eurodollars
41 Repurchase agreements (12) 364.2 (r) 382.9 374.2
42 Eurodollars (12) 199.5 215.3 216.7
Debt components
43 Federal debt 3,403.5 3,260.4 3,257.7
44 Nonfederal debt 14,835.8 (r) 15,406.8 15,457.2
2001
Item Aug. (r) Sept.
Seasonally adjusted
Measures (2)
1 M1 1,143.2 1,194.6
2 M2 5,287.1 5,398.1
3 M3 7,677.2 7,821.6
4 Debt 18,889.7 n.a.
M1 components
5 Currency (3) 562.4 567.8
6 Travelers checks (4) 8.8 8.4
7 Demand deposits (5) 314.4 360.9
8 Other checkable deposits (6) 257.5 257.5
Nontransaction components
9 In M2 (7) 4,413.9 4,203.5
10 In M3 only (8) 2,390.1 2,423.6
Commercial banks
11 Savings deposits,
including MMDAs 1,613.3 1,655.6
12 Small time deposits (9) 667.0 661.2
13 Large time deposits (10,11) 690.9 688.6
Thrift institutions
14 Savings deposits,
including MMDAs 519.4 529.9
15 Small time deposits (9) 346.6 344.7
16 Large time deposits (10) 114.4 115.6
Money market mutual funds
17 Retail 997.6 1,012.0
18 Institution-only 997.6 1,041.6
Repurchase agreements and
eurodollars
19 Repurchase agreements (12) 370.6 358.0
20 Eurodollars (12) 216.6 219.8
Debt components
21 Federal debt 3,349.0 n.a.
22 Nonfederal debt 15,540.7 n.a.
Not seasonally
adjusted
Measures (2)
23 M1 1,140.4 1,189.4
24 M2 5,266.5 5,382.5
25 M3 7,635.2 7,774.0
26 Debt 18,805.8 n.a.
M1 components
27 Currency (3) 561.7 566.0
28 Travelers checks (4) 8.4 8.3
29 Demand deposits (5) 314.7 359.9
30 Other checkable deposits (6) 255.6 255.3
Nontransaction components
31 In M2 (7) 4,126.1 4,193.1
32 In M3 only (8) 2,368.7 2,391.5
Commercial banks
33 Savings deposits,
including MMDAs 1,607.2 1,653.5
34 Small time deposits (9) 666.2 661.5
35 Large time deposits (10,11) 686.8 683.9
Thrift institutions
36 Savings deposits,
including MMDAs 517.5 529.3
37 Small time deposits (9) 346.2 344.8
38 Large time deposits (10) 133.7 114.8
Money market mutual funds
39 Retail 989.0 1,004.0
40 Institution-only 983.7 1,020.1
Repurchase agreements and
eurodollars
41 Repurchase agreements (12) 370.2 355.3
42 Eurodollars (12) 214.3 217.3
Debt components
43 Federal debt 3,291.0 n.a.
44 Nonfederal debt 15,514.8 n.a.
NOTES TO TABLE 1.21
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in 1959
are available from the Money and Reserves Projections Section,
Division of Monetary Affairs, Board of Governors of the Federal
Reserve System, Washington, DC 20551.
(2.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign
banks and official institutions, less cash items in the process of
collection and Federal Reserve float, and (4) other checkable deposits
(OCDs), consisting of negotiable order of withdrawal (NOW) and
automatic transfer service (ATS) accounts at depository institutions,
credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted
separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result
to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
wolrdwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks of
nonbank issuers. Travelers checks issued by depository institutions
are included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions, the
U.S. government, and foreign banks and official institutions, less
cash items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by
depository institutions, and (4) eurodollars (overnight and term) of
U.S. addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small
time deposits.
(10.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and
foreign banks and official institutions.
(12.) Includes both overnight and term.
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities (1)
A. All commercial banks
Billions of dollars
Monthly averages
2000 2001
Account Sept. (r) Mar. (r) Apr. (r) May (r)
Seasonally adjusted
Assets
1 Bank credit 5,161.7 5,293.9 5,317.7 5,326.8
2 Securities in bank
credit 1,333.1 1,346.2 1,363.9 1,371.5
3 U.S. government
securities 804.3 755.3 763.3 767.2
4 Other securities 528.8 590.9 600.7 604.3
5 Loans and leases in
bank credit (2) 3,828.6 3,947.7 3,953.7 3,955.3
6 Commercial and
industrial 1,079.6 1,103.5 1,099.3 1,096.3
7 Real estate 1,639.1 1,683.9 1,690.7 1,701.8
8 Revolving home
equity 123.3 137.1 138.4 139.7
9 Other 1,515.8 1,546.8 1,552.4 1,562.1
10 Consumer 530.3 544.6 548.4 552.6
11 Security (3) 168.5 178.1 179.6 168.1
12 Other loans and
leases 411.1 437.5 435.8 436.4
13 Interbank loans 238.9 273.6 290.0 283.4
14 Cash assets (4) 286.1 286.1 288.3 282.0
15 Other assets (5) 379.0 416.8 418.2 411.3
16 Total assets (6) 6,003.4 6,205.2 6,248.5 6,237.7
Liabilities
17 Deposits 3,773.3 3,929.2 3,992.6 4,007.3
18 Transaction 607.6 605.7 609.0 612.7
19 Nontransaction 3,165.7 3,323.6 3,383.7 3,394.6
20 Large time 917.5 937.9 951.3 966.1
21 Other 2,248.1 2,385.6 2,432.3 2,428.5
22 Borrowings 1,212.1 1,244.7 1,280.6 1,248.7
23 From banks in the U.S. 379.6 395.2 404.8 383.7
24 From others 832.5 849.5 875.8 865.0
25 Net due to related
foreign offices 262.9 233.5 190.0 207.4
26 Other liabilities 337.4 353.9 349.9 339.9
27 Total liabilities 5,585.6 5,761.4 5,813.2 5,803.4
28 Residual (assets less
liabilities) (7) 417.7 443.9 435.4 434.3
Not seasonally adjusted
Assets
29 Bank credit 5,156.6 5,280.9 5,310.0 5,316.0
30 Securities in bank
credit 1,328.9 1,350.3 1,365.5 1,370.8
31 U.S. government
securities 800.8 761.2 768.1 768.1
32 Other securities 528.1 589.1 597.4 602.7
33 Loans and leases in
bank credit (2) 3,827.6 3,930.6 3,944.5 3,945.3
34 Commercial and
industrial 1,076.3 1,105.1 1,103.9 1,098.6
35 Real estate 1,642.0 1,676.5 1,686.4 1,702.2
36 Revolving home
equity 124.5 135.5 137.4 139.7
37 Other 1,517.5 1,541.0 1,549.0 1,562.5
38 Consumer 532.8 540.8 545.3 550.4
39 Credit cards and
related plans 207.8 208.6 213.9 218.8
40 Other 325.1 332.2 331.4 331.7
41 Security (3) 163.6 173.9 175.2 162.1
42 Other loans and
leases 412.9 434.3 433.7 432.0
43 Interbank loans 231.4 280.9 296.1 276.8
44 Cash assets (4) 282.2 275.4 283.5 279.8
45 Other assets (5) 378.9 416.1 418.0 411.6
46 Total assets (6) 5,986.6 6,188.1 6,242.2 6,218.3
Liabilities
47 Deposits 3,751.1 3,939.6 4,011.9 3,995.3
48 Transaction 602.7 599.7 615.2 603.0
49 Nontransaction 3,148.4 3,339.9 3,396.7 3,392.3
50 Large time 907.0 941.1 952.6 964.8
51 Other 2,241.4 2,398.8 2,444.1 2,427.5
52 Borrowings 1,209.0 1,243.1 1,281.3 1,253.8
53 From banks in the U.S. 372.5 398.9 408.0 386.8
54 From others 836.4 844.2 873.3 867.0
55 Net due to related
foreign offices 264.1 232.4 183.0 206.6
56 Other liabilities 337.6 352.7 345.0 340.6
5,561.7 5,767.9 5,821.2 5,796.3
57 Total liabilities
58 Residual(assets less
liabilities) (7) 424.8 420.2 421.0 422.0
Monthly averages
2001
Account June (r) July (r) Aug. (r) Sept.
Seasonally adjusted
Assets
1 Bank credit 5,323.3 5,320.9 5,335.7 5,412.8
2 Securities in bank
credit 1,381.3 1,386.4 1,420.3 1,446.6
3 U.S. government
securities 766.5 773.5 786.6 798.6
4 Other securities 614.8 612.9 633.7 648.0
5 Loans and leases in
bank credit (2) 3,942.0 3,934.5 3,915.4 3,966.2
6 Commercial and
industrial 1,079.4 1,068.4 1,061.5 1,064.2
7 Real estate 1,705.1 1,713.5 1,708.6 1,714.4
8 Revolving home
equity 140.9 142.5 143.9 146.3
9 Other 1,564.3 1,570.9 1,564.7 1,568.1
10 Consumer 551.1 548.9 547.3 547.5
11 Security (3) 172.0 169.9 170.2 182.1
12 Other loans and
leases 434.4 433.8 427.8 458.0
13 Interbank loans 268.1 272.8 288.1 356.1
14 Cash assets (4) 275.2 288.1 282.4 326.3
15 Other assets (5) 403.7 412.6 422.1 456.2
16 Total assets (6) 6,204.5 6,228.1 6,261.6 6,484.5
Liabilities
17 Deposits 4,041.3 4,065.2 4,073.3 4,201.4
18 Transaction 600.7 605.7 610.6 687.9
19 Nontransaction 3,440.6 3,459.5 3,462.8 3,513.4
20 Large time 979.1 972.8 960.0 957.4
21 Other 2,461.5 2,486.7 2,502.7 2,556.1
22 Borrowings 1,214.8 1,225.3 1,233.6 1,284.3
23 From banks in the U.S. 381.5 389.3 396.9 439.9
24 From others 833.2 836.0 836.7 844.4
25 Net due to related
foreign offices 184.5 190.9 194.0 169.8
26 Other liabilities 351.3 330.5 340.2 389.5
27 Total liabilities 5,791.8 5,811.8 5,841.0 6,045.1
28 Residual (assets less
liabilities) (7) 412.6 416.3 420.6 439.5
Not seasonally adjusted
Assets
29 Bank credit 5,316.1 5,300.3 5,318.4 5,407.0
30 Securities in bank
credit 1,380.6 1,377.3 1,413.4 1,442.8
31 U.S. government
securities 766.8 769.4 782.0 795.5
32 Other securities 613.8 607.9 631.5 647.2
33 Loans and leases in
bank credit (2) 3,935.5 3,923.0 3,904.9 3,964.2
34 Commercial and
industrial 1,081.6 1,067.6 1,055.3 1,060.9
35 Real estate 1,704.5 1,712.5 1,711.8 1,718.1
36 Revolving home
equity 141.1 143.0 144.7 147.7
37 Other 1,563.5 1,569.6 1,567.0 1,570.4
38 Consumer 548.4 546.4 548.3 549.7
39 Credit cards and
related plans 216.9 216.3 217.0 215.7
40 Other 331.5 330.0 331.4 334.0
41 Security (3) 167.4 162.2 161.8 175.7
42 Other loans and
leases 433.5 434.2 427.7 459.7
43 Interbank loans 266.0 265.1 276.7 344.2
44 Cash assets (4) 271.3 279.0 270.7 321.6
45 Other assets (5) 404.5 411.1 419.3 456.2
46 Total assets (6) 6,191.9 6,189.4 6,218.2 6,461.9
Liabilities
47 Deposits 4,022.3 4,033.6 4,032.8 4,175.9
48 Transaction 600.3 599.4 596.7 681.8
49 Nontransaction 3,422.0 3,434.2 3,436.1 3,494.1
50 Large time 969.5 959.0 946.6 946.1
51 Other 2,452.5 2,475.2 2,489.5 2,548.0
52 Borrowings 1,215.6 1,215.9 1,211.7 1,279.1
53 From banks in the U.S. 382.3 386.0 388.6 430.1
54 From others 833.3 829.9 823.1 849.0
55 Net due to related
foreign offices 180.7 184.6 193.2 171.7
56 Other liabilities 349.2 326.1 340.0 390.0
5,767.8 5,760.1 5,777.6 6,016.6
57 Total liabilities
58 Residual(assets less
liabilities) (7) 424.1 429.3 440.6 445.3
Wednesday figures
2001
Account Sept. 5 Sept. 12 Sept. 19 Sept. 26
Seasonally adjusted
Assets
1 Bank credit 5,347.2 5,501.2 5,427.7 5,381.8
2 Securities in bank
credit 1,422.5 1,427.9 1,451.2 1,460.8
3 U.S. government
securities 792.2 795.8 795.7 797.3
4 Other securities 630.4 632.1 655.5 663.4
5 Loans and leases in
bank credit (2) 3,924.7 4,073.3 3,976.5 3,921.1
6 Commercial and
industrial 1,059.5 1,072.9 1,065.3 1,063.9
7 Real estate 1,714.0 1,714.2 1,721.4 1,709.9
8 Revolving home
equity 145.1 145.5 147.0 146.7
9 Other 1,568.8 1,568.7 1,574.4 1,563.2
10 Consumer 548.6 546.3 549.1 546.1
11 Security (3) 177.4 218.9 183.5 164.6
12 Other loans and
leases 425.2 520.9 457.1 436.6
13 Interbank loans 299.9 441.1 357.4 335.7
14 Cash assets (4) 304.4 387.0 327.2 294.4
15 Other assets (5) 425.3 461.5 441.6 471.2
16 Total assets (6) 6,310.4 6,724.1 6,487.2 6,416.4
Liabilities
17 Deposits 4,129.0 4,353.0 4,182.5 4,145.8
18 Transaction 611.3 790.6 697.7 668.8
19 Nontransaction 3,517.7 3,562.4 3,484.8 3,477.0
20 Large time 961.0 971.2 940.9 951.9
21 Other 2,556.8 2,591.2 2,543.9 2,525.1
22 Borrowings 1,229.7 1,374.8 1,283.3 1,250.7
23 From banks in the U.S. 415.6 504.5 426.2 419.2
24 From others 814.1 870.3 857.1 831.4
25 Net due to related
foreign offices 173.8 164.2 182.2 168.2
26 Other liabilities 345.6 392.3 399.0 405.4
27 Total liabilities 5,878.1 6,284.3 6,046.9 5,970.1
28 Residual (assets less
liabilities) (7) 432.2 439.8 440.3 446.4
Not seasonally adjusted
Assets
29 Bank credit 5,336.4 5,489.0 5,428.2 5,374.5
30 Securities in bank
credit 1,422.2 1,425.2 1,446.4 1,454.1
31 U.S. government
securities 791.7 794.0 792.1 792.6
32 Other securities 630.4 631.1 654.3 661.5
33 Loans and leases in
bank credit (2) 3,914.2 4,063.8 3,981.8 3,920.4
34 Commercial and
industrial 1,053.0 1,066.0 1,064.2 1,061.7
35 Real estate 1,716.5 1,719.0 1,725.1 1,713.4
36 Revolving home
equity 146.2 146.9 148.5 148.3
37 Other 1,570.3 1,572.1 1,576.6 1,565.1
38 Consumer 550.6 548.6 552.7 548.6
39 Credit cards and
related plans 217.0 214.8 218.6 214.2
40 Other 333.7 333.8 334.1 334.5
41 Security (3) 164.6 207.3 182.2 160.6
42 Other loans and
leases 429.5 522.9 457.6 436.1
43 Interbank loans 301.3 428.8 343.0 312.7
44 Cash assets (4) 319.3 384.2 314.8 283.0
45 Other assets (5) 427.2 462.4 440.0 468.2
46 Total assets (6) 6,317.4 6,697.3 6,458.9 6,371.7
Liabilities
47 Deposits 4,133.9 4,339.9 4,141.4 4,091.0
48 Transaction 627.2 790.9 680.9 646.7
49 Nontransaction 3,506.7 3,549.0 3,460.6 3,444.3
50 Large time 948.1 958.8 929.4 941.9
51 Other 2,558.6 2,590.2 2,531.2 2,502.4
52 Borrowings 1,218.0 1,355.2 1,289.0 1,252.1
53 From banks in the U.S. 407.1 489.6 419.5 409.7
54 From others 810.9 865.6 869.5 842.4
55 Net due to related
foreign offices 177.3 166.1 182.7 171.8
56 Other liabilities 347.1 392.6 398.1 408.4
5,876.3 6,253.8 6,011.3 5,923.3
57 Total liabilities
58 Residual(assets less
liabilities) (7) 441.0 443.5 447.7 448.4
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2001
Account Sept. (r) Mar. (r) Apr. (r) May (r)
Seasonally adjusted
Assets
1 Bank credit 4,564.5 4,665.8 4,691.0 4,715.3
2 Securities in bank
credit 1,120.9 1,136.7 1,143.0 1,157.0
3 U.S. government
securities 728.9 688.1 688.9 697.5
4 Other securities 392.0 448.6 454.1 459.4
5 Loans and leases in
bank credit (2) 3,443.6 3,529.1 3,548.0 3,558.3
6 Commercial and
industrial 874.6 884.3 879.9 877.9
7 Real estate 1,620.8 1,665.9 1,673.3 1,684.1
8 Revolving home
equity 123.3 137.1 138.4 139.7
9 Other 1,497.5 1,528.7 1,534.9 1,544.4
10 Consumer 530.3 544.6 548.4 552.6
11 Security (3) 73.9 66.9 78.8 75.2
12 Other loans and
leases 344.0 367.4 367.6 368.4
13 Interbank loans 215.1 244.0 262.3 253.8
14 Cash assets (4) 241.6 246.0 249.6 244.7
15 Other assets (5) 339.6 379.6 378.5 374.0
16 Total assets (6) 5,298.7 5,470.7 5,516.0 5,522.4
Liabilities
17 Deposits 3,387.5 3,549.0 3,598.3 3,598.8
18 Transaction 597.5 596.0 598.2 602.2
19 Nontransaction 2,790.0 2,952.9 3,000.1 2,996.7
20 Large time 544.1 569.6 570.0 570.4
21 Other 2,245.9 2,383.4 2,430.0 2,426.2
22 Borrowings 994.3 1,008.7 1,040.4 1,029.7
23 From banks in the U.S. 359.6 369.5 379.5 363.4
24 From others 634.6 639.3 660.9 666.3
25 Net due to related
foreign offices 241.4 211.5 185.5 211.8
26 Other liabilities 261.0 271.3 261.1 253.8
27 Total liabilities 4,884.1 5,040.5 5,085.3 5,094.1
28 Residual (assets less
liabilities) (7) 414.6 430.2 430.8 428.3
Not seasonally adjusted
Assets
29 Bank credit 4,561.1 4,657.9 4,686.2 4,709.2
30 Securities in bank
credit 1,116.7 1,140.8 1,144.6 1,156.2
31 U.S. government
securities 725.4 693.9 693.7 698.4
32 Other securities 391.3 446.8 450.9 457.8
33 Loans and leases in
bank credit (2) 3,444.5 3,517.1 3,541.7 3,553.0
34 Commercial and
industrial 871.7 884.7 886.3 883.3
35 Real estate 1,623.7 1,658.4 1,668.9 1,684.5
36 Revolving home
equity 124.5 135.5 137.4 139.7
37 Other 1,499.2 1,522.9 1,531.5 1,544.8
38 Consumer 532.8 540.8 545.3 550.4
39 Credit cards and
related plans 207.8 208.6 213.9 218.8
40 Other 325.1 332.2 331.4 331.7
41 Security (3) 70.2 68.9 75.8 70.0
42 Other loans and
leases 345.9 364.2 365.3 364.8
43 Interbank loans 207.6 251.3 268.3 247.3
44 Cash assets (4) 238.6 236.8 246.3 243.3
45 Other assets (5) 339.8 378.3 379.2 374.8
46 Total assets (6) 5,284.9 5,459.4 5,515.1 5,509.1
Liabilities
47 Deposits 3,372.8 3,554.8 3,614.7 3,585.6
48 Transaction 592.3 590.3 605.0 592.8
49 Nontransaction 2,780.5 2,964.5 3,009.7 2,992.8
50 Large time 541.2 568.0 567.9 567.6
51 Other 2,239.2 2,396.5 2,441.8 2,425.2
52 Borrowings 991.2 1,007.1 1,041.1 1,034.7
53 From banks in the U.S. 352.6 373.1 382.7 366.5
54 From others 638.3 634.0 658.4 668.2
55 Net due to related
foreign offices 240.6 210.3 183.1 214.1
56 Other liabilities 260.2 270.0 258.3 256.0
57 Total liabilities 4,864.7 5,042.3 5,097.2 5,090.5
58 Residual (assets less
liabilities) (7) 420.2 417.1 417.9 418.6
Monthly averages
2001
Account June (r) July (r) Aug. (r) Sept.
Seasonally adjusted
Assets
1 Bank credit 4,720.4 4,728.4 4,743.5 4,826.5
2 Securities in bank
credit 1,165.3 1,169.9 1,200.8 1,226.7
3 U.S. government
securities 698.4 706.4 719.8 729.0
4 Other securities 466.9 463.5 481.0 497.7
5 Loans and leases in
bank credit (2) 3,555.1 3,558.6 3,542.7 3,599.8
6 Commercial and
industrial 868.1 862.2 856.5 859.6
7 Real estate 1,687.5 1,695.6 1,690.4 1,695.7
8 Revolving home
equity 140.9 142.5 143.9 146.3
9 Other 1,546.7 1,553.1 1,546.5 1,549.4
10 Consumer 551.1 548.9 547.3 547.5
11 Security (3) 80.8 83.5 86.4 104.0
12 Other loans and
leases 367.6 368.4 362.1 393.1
13 Interbank loans 246.2 251.6 267.7 330.3
14 Cash assets (4) 238.9 251.3 245.2 281.6
15 Other assets (5) 366.5 380.9 393.0 424.7
16 Total assets (6) 5,506.6 5,546.2 5,583.0 5,796.7
Liabilities
17 Deposits 3,622.6 3,652.7 3,670.1 3,797.3
18 Transaction 591.2 596.4 600.7 675.0
19 Nontransaction 3,031.4 3,056.3 3,069.4 3,122.2
20 Large time 572.2 572.0 569.0 568.5
21 Other 2,459.2 2,484.3 2,500.4 2,553.7
22 Borrowings 999.0 1,014.6 1,023.3 1,065.7
23 From banks in the U.S. 359.1 366.9 376.0 410.7
24 From others 640.0 647.6 647.3 655.0
25 Net due to related
foreign offices 204.1 207.1 205.7 188.1
26 Other liabilities 266.7 250.9 261.5 309.0
27 Total liabilities 5,092.4 5,125.3 5,160.5 5,360.1
28 Residual (assets less
liabilities) (7) 414.1 420.9 422.4 436.6
Not seasonally adjusted
Assets
29 Bank credit 4,716.9 4,712.3 4,732.5 4,822.4
30 Securities in bank
credit 1,164.6 1,160.8 1,193.9 1,222.8
31 U.S. government
securities 698.7 702.3 715.2 726.0
32 Other securities 465.9 458.5 478.8 496.9
33 Loans and leases in
bank credit (2) 3,552.3 3,551.5 3,538.6 3,599.6
34 Commercial and
industrial 871.5 862.1 851.7 856.7
35 Real estate 1,686.9 1,694.7 1,693.6 1,699.4
36 Revolving home
equity 141.1 143.0 144.7 147.7
37 Other 1,545.9 1,551.7 1,548.8 1,551.6
38 Consumer 548.4 546.4 548.3 549.7
39 Credit cards and
related plans 216.9 216.3 217.0 215.7
40 Other 331.5 330.0 331.4 334.0
41 Security (3) 78.2 78.6 81.8 98.8
42 Other loans and
leases 367.3 369.8 363.2 395.0
43 Interbank loans 244.1 243.8 256.3 318.4
44 Cash assets (4) 236.2 243.5 234.6 277.9
45 Other assets (5) 368.7 380.2 390.4 424.9
46 Total assets (6) 5,500.2 5,514.4 5,547.4 5,777.0
Liabilities
47 Deposits 3,610.8 3,631.3 3,641.3 3,779.7
48 Transaction 590.9 590.0 586.8 668.6
49 Nontransaction 3,019.8 3,041.2 3,054.5 3,111.1
50 Large time 569.6 568.3 567.3 565.4
51 Other 2,450.2 2,472.9 2,487.2 2,545.7
52 Borrowings 999.9 1,005.2 1,001.4 1,060.5
53 From banks in the U.S. 359.9 363.7 367.7 400.9
54 From others 640.0 641.5 633.7 659.5
55 Net due to related
foreign offices 203.4 204.0 206.1 187.5
56 Other liabilities 266.2 248.0 261.9 308.3
57 Total liabilities 5,080.2 5,088.4 5,110.7 5,336.0
58 Residual (assets less
liabilities) (7) 420.0 425.6 436.7 441.0
Wednesday figures
2001
Account Sept. 5 Sept. 12 Sept. 19 Sept. 26
Seasonally adjusted
Assets
1 Bank credit 4,755.3 4,918.8 4,836.6 4,794.8
2 Securities in bank
credit 1,202.1 1,211.2 1,231.7 1,238.8
3 U.S. government
securities 723.5 727.9 726.8 726.2
4 Other securities 478.5 483.3 504.9 512.7
5 Loans and leases in
bank credit (2) 3,553.2 3,707.6 3,604.9 3,555.9
6 Commercial and
industrial 856.3 869.4 857.9 858.5
7 Real estate 1,695.2 1,695.9 1,702.6 1,691.0
8 Revolving home
equity 145.1 145.5 147.0 146.7
9 Other 1,550.1 1,550.4 1,555.6 1,544.3
10 Consumer 548.6 546.3 549.1 546.1
11 Security (3) 91.7 141.1 104.6 87.9
12 Other loans and
leases 361.4 454.8 390.7 372.5
13 Interbank loans 274.5 419.6 326.8 307.8
14 Cash assets (4) 265.6 334.8 278.1 255.0
15 Other assets (5) 399.1 431.5 408.4 437.0
16 Total assets (6) 5,628.5 6,038.3 5,783.5 5,728.2
Liabilities
17 Deposits 3,726.4 3,945.0 3,784.5 3,740.8
18 Transaction 599.1 775.8 685.1 655.8
19 Nontransaction 3,127.3 3,169.2 3,099.4 3,085.0
20 Large time 572.9 580.3 557.9 562.2
21 Other 2,554.4 2,588.9 2,541.6 2,522.8
22 Borrowings 1,022.4 1,146.8 1,055.3 1,037.9
23 From banks in the U.S. 397.2 459.5 398.9 396.4
24 From others 625.2 687.3 656.4 641.5
25 Net due to related
foreign offices 184.6 197.8 189.9 181.8
26 Other liabilities 270.7 313.7 313.9 323.2
27 Total liabilities 5,204.2 5,603.2 5,343.5 5,283.7
28 Residual (assets less
liabilities) (7) 424.3 435.1 440.0 444.5
Not seasonally adjusted
Assets
29 Bank credit 4,753.5 4,910.1 4,836.8 4,785.9
30 Securities in bank
credit 1,201.7 1,208.5 1,226.9 1,232.2
31 U.S. government
securities 723.1 726.2 723.3 721.4
32 Other securities 478.6 482.3 503.6 510.7
33 Loans and leases in
bank credit (2) 3,551.8 3,701.6 3,610.0 3,553.8
34 Commercial and
industrial 851.6 863.8 856.9 855.7
35 Real estate 1,697.7 1,700.8 1,706.3 1,694.5
36 Revolving home
equity 146.2 146.9 148.5 148.3
37 Other 1,551.5 1,553.8 1,557.8 1,546.2
38 Consumer 550.6 548.6 552.7 548.6
39 Credit cards and
related plans 217.0 214.8 218.6 214.2
40 Other 333.7 333.8 334.1 334.5
41 Security (3) 85.9 131.3 102.4 82.9
42 Other loans and
leases 366.0 457.1 391.7 372.0
43 Interbank loans 275.9 407.2 312.4 284.8
44 Cash assets (4) 281.9 334.1 267.3 243.1
45 Other assets (5) 400.8 432.4 407.3 434.5
46 Total assets (6) 5,645.7 6,017.0 5,757.2 5,682.1
Liabilities
47 Deposits 3,743.0 3,942.2 3,752.0 3,689.3
48 Transaction 614.9 776.0 668.1 632.9
49 Nontransaction 3,128.1 3,166.2 3,083.9 3,056.4
50 Large time 571.8 578.3 555.0 556.4
51 Other 2,556.3 2,587.9 2,528.9 2,500.1
52 Borrowings 1,010.7 1,127.2 1,061.0 1,039.4
53 From banks in the U.S. 388.7 444.5 392.2 387.0
54 From others 622.1 682.7 668.8 652.4
55 Net due to related
foreign offices 184.3 196.6 188.5 183.7
56 Other liabilities 270.5 312.4 312.1 325.3
57 Total liabilities 5,208.5 5,578.4 5,131.6 5,237.7
58 Residual (assets less
liabilities) (7) 437.2 438.6 443.6 444.4
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2001
Sept. Mar. Apr. May
Account (r) (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 2,570.5 2,600.1 2,620.3 2,631.6
2 Securities in bank credit 589.4 592.0 598.6 608.7
3 U.S. government
securities 364.5 343.2 346.3 354.4
4 Trading account 22.8 35.4 33.7 35.3
5 Investment account 341.8 307.7 312.6 319.2
6 Other securities 224.8 248.8 252.3 254.2
7 Trading account 114.8 132.5 135.9 137.0
8 Investment account 110.0 116.3 116.3 117.2
9 State and local
government 25.7 28.1 28.4 28.1
10 Other 84.2 88.2 88.0 89.1
11 Loans and leases in bank
credit (2) 1,981.1 2,008.1 2,021.7 2,022.9
12 Commercial and
industrial 594.1 589.4 585.2 582.8
13 Bankers acceptances .9 .8 .8 .8
14 Other 593.2 588.6 584.4 582.0
15 Real estate 831.2 841.5 848.3 854.1
16 Revolving home equity 79.2 85.2 86.2 86.7
17 Other 752.0 756.3 762.1 767.4
18 Consumer 235.6 248.8 249.8 252.3
19 Security (3) 67.1 59.0 70.4 66.8
20 Federal funds sold to
and repurchase
agreements with
broker-dealers 46.8 43.7 53.9 49.4
21 Other 20.3 15.3 16.5 17.4
22 State and local
government 12.8 13.0 13.0 13.0
23 Agricultural 9.5 10.4 10.4 10.6
24 Federal funds sold to
and repurchase
agreements with others 16.4 26.2 23.0 23.6
25 All other loans 86.3 86.8 87.7 85.5
26 Lease-financing
receivables 128.2 133.0 133.8 134.4
27 Interbank loans 134.3 139.3 147.9 134.3
28 Federal funds sold to and
repurchase agreements
with commercial banks 59.2 72.2 84.0 72.9
29 Other 75.1 67.1 63.9 61.4
30 Cash assets (4) 143.6 142.8 145.6 139.9
31 Other assets (5) 256.0 282.0 276.9 274.0
32 Total assets (6) 3,068.5 3,126.4 3,152.7 3,142.2
Liabilities
33 Deposits 1,666.4 1,716.2 1,741.2 1,732.1
34 Transaction 305.2 303.4 303.2 304.1
35 Nontransaction 1,361.2 1,412.9 1,438.0 1,428.0
36 Large time 261.1 268.5 268.4 270.7
37 Other 1,100.1 1,144.4 1,169.6 1,157.3
38 Borrowings 650.0 668.5 696.5 682.4
39 From banks in the U.S. 196.5 220.4 230.7 213.4
40 From others 453.6 448.0 465.8 469.0
41 Net due to related foreign
offices 220.9 196.1 172.7 195.2
42 Other liabilities 228.3 232.6 221.1 211.5
43 Total liabilities 2,765.6 2,813.4 2,831.5 2,821.2
44 Residual (assets less
liabilities) (7) 302.9 313.0 321.3 321.0
Not seasonally adjusted
Assets
45 Bank credit 2,562.0 2,596.6 2,615.9 2,625.1
46 Securities in bank credit 585.5 593.8 597.6 606.4
47 U.S. government
securities 361.4 346.8 348.5 353.8
48 Trading account 22.6 35.8 34.0 35.2
49 Investment account 338.9 311.0 314.5 318.6
50 Mortgage-backed
securities 213.5 219.7 227.2 233.9
51 Other 125.4 91.3 87.3 84.6
52 One year or less 33.5 31.6 30.0 26.9
53 One to five years 54.1 34.3 31.4 31.1
54 More than five
years 37.7 25.4 25.9 26.6
55 Other securities 224.1 247.0 249.0 252.6
56 Trading account 114.5 131.5 134.2 136.1
57 Investment account 109.6 115.5 114.9 116.5
58 State and local
government 25.7 27.9 28.0 28.0
59 Other 84.0 87.6 86.8 88.5
60 Loans and leases in bank
credit (2) 1,976.5 2,002.8 2,018.3 2,018.7
61 Commercial and
industrial 592.6 590.2 589.5 585.5
62 Bankers acceptances .9 .8 .8 .8
63 Other 591.8 589.4 588.7 584.7
64 Real estate 832.6 835.7 844.3 853.7
65 Revolving home equity 80.2 83.8 85.3 86.7
66 Other 461.7 455.3 462.1 468.6
67 Commercial 290.6 296.6 297.0 298.4
68 Consumer 234.7 248.5 250.4 252.7
69 Credit cards and
related plans 75.5 82.7 84.7 87.0
70 Other 159.2 165.8 165.8 165.8
71 Security (3) 63.6 60.7 67.4 61.9
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 44.3 45.0 51.5 45.8
73 Other 19.2 15.7 15.8 16.1
74 State and local
government 12.8 13.0 13.0 13.0
75 Agricultural 9.6 10.2 10.2 10.5
76 Federal funds sold to
and repurchase
agreements with others 16.4 26.2 23.0 23.6
77 All other loans 87.3 84.8 86.6 84.0
78 Lease-financing
receivables 126.9 133.5 133.9 133.7
79 Interbank loans 129.8 140.4 150.0 136.7
80 Federal funds sold to and
repurchase agreements
with commercial banks 57.3 72.8 85.1 74.1
81 Other 72.5 67.6 64.9 62.5
82 Cash assets (4) 140.2 137.9 145.9 140.1
83 Other assets (5) 256.2 280.7 277.6 274.9
84 Total assets (6) 3,052.1 3,117.7 3,151.7 3,138.9
Liabilities
85 Deposits 1,657.1 1,714.7 1,750.3 1,725.3
86 Transaction 300.1 299.7 310.5 299.9
87 Nontransaction 1,357.1 1,415.0 1,439.8 1,425.4
88 Large time 258.3 266.9 266.3 267.8
89 Other 1,098.8 1,148.1 1,173.5 1,157.6
90 Borrowings 646.8 667.0 697.3 687.4
91 From banks in the U.S. 189.4 224.1 233.9 216.5
92 From nonbanks in the U.S. 457.4 442.9 463.3 470.9
93 Net due to related foreign
offices 220.0 194.9 170.3 197.5
94 Other liabilities 227.5 231.3 218.1 213.8
95 Total liabilities 2,751.5 2,807.8 2,836.0 2,824.1
96 Residual (assets less
liabilities) (7) 300.6 310.0 315.7 314.8
Monthly averages
2001
June July Aug. Sept.
Account (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 2,629.3 2,622.5 2,622.8 2,686.0
2 Securities in bank credit 612.4 609.7 630.9 641.9
3 U.S. government
securities 352.6 353.3 361.0 364.2
4 Trading account 35.1 38.3 36.3 37.9
5 Investment account 317.5 315.0 324.8 326.3
6 Other securities 259.7 256.4 269.9 277.7
7 Trading account 143.5 140.8 153.1 160.9
8 Investment account 116.3 115.6 116.8 116.8
9 State and local
government 27.9 27.8 27.6 27.5
10 Other 88.4 87.8 89.2 89.3
11 Loans and leases in bank
credit (2) 2,016.9 2,012.8 1,991.8 2,044.1
12 Commercial and
industrial 570.8 561.7 556.6 560.7
13 Bankers acceptances .7 n.a. n.a. n.a.
14 Other 570.1 561.7 556.6 560.7
15 Real estate 852.9 853.9 844.5 844.4
16 Revolving home equity 86.9 86.8 87.3 88.9
17 Other 766.0 767.1 757.2 755.6
18 Consumer 254.2 253.8 250.9 252.3
19 Security (3) 72.5 75.1 78.0 93.6
20 Federal funds sold to
and repurchase
agreements with
broker-dealers 54.7 59.6 63.5 66.3
21 Other 17.8 15.5 14.5 27.3
22 State and local
government 13.3 14.2 14.1 14.3
23 Agricultural 10.3 10.0 9.4 9.2
24 Federal funds sold to
and repurchase
agreements with others 25.5 30.8 31.8 32.5
25 All other loans 84.7 81.5 75.5 105.6
26 Lease-financing
receivables 132.6 131.7 131.0 131.5
27 Interbank loans 131.0 135.8 150.1 207.9
28 Federal funds sold to and
repurchase agreements
with commercial banks 72.3 70.9 79.6 132.1
29 Other 58.7 64.9 70.4 75.8
30 Cash assets (4) 135.7 146.2 140.1 173.7
31 Other assets (5) 261.8 267.8 277.1 302.6
32 Total assets (6) 3,120.0 3,134.3 3,151.9 3,332.3
Liabilities
33 Deposits 1,736.7 1,748.8 1,751.2 1,855.9
34 Transaction 299.7 306.0 303.6 374.7
35 Nontransaction 1,437.0 1,442.8 1,447.5 1,481.2
36 Large time 274.1 271.1 264.4 264.3
37 Other 1,162.9 1,171.7 1,183.1 1,216.9
38 Borrowings 654.5 667.7 673.3 704.6
39 From banks in the U.S. 211.0 218.8 226.4 257.2
40 From others 443.5 449.0 446.9 447.4
41 Net due to related foreign
offices 190.9 192.4 190.2 177.6
42 Other liabilities 223.7 205.4 215.7 263.8
43 Total liabilities 2,805.9 2,814.4 2,830.4 3,001.9
44 Residual (assets less
liabilities) (7) 314.1 319.9 321.5 330.4
Not seasonally adjusted
Assets
45 Bank credit 2,623.9 2,606.3 2,608.6 2,676.5
46 Securities in bank credit 610.0 600.8 624.8 638.3
47 U.S. government
securities 351.3 349.4 357.1 361.3
48 Trading account 35.0 37.9 35.9 37.6
49 Investment account 316.3 311.5 321.2 323.7
50 Mortgage-backed
securities 230.3 230.7 243.7 249.2
51 Other 86.1 80.9 77.5 74.4
52 One year or less 25.4 21.0 20.0 20.0
53 One to five years 34.2 34.2 33.7 34.4
54 More than five
years 26.5 25.8 23.9 20.0
55 Other securities 258.7 251.4 267.7 277.0
56 Trading account 142.9 138.1 151.9 160.5
57 Investment account 115.8 113.4 115.8 116.5
58 State and local
government 27.8 27.3 27.3 27.4
59 Other 88.1 86.1 88.5 89.1
60 Loans and leases in bank
credit (2) 2,013.8 2,005.4 1,983.8 2,038.2
61 Commercial and
industrial 572.4 561.7 553.4 559.3
62 Bankers acceptances .7 n.a. n.a. n.a.
63 Other 571.6 561.7 553.4 559.3
64 Real estate 851.5 852.4 845.9 846.3
65 Revolving home equity 87.1 87.4 88.4 90.0
66 Other 465.0 465.5 458.5 457.6
67 Commercial 299.4 299.5 299.0 298.7
68 Consumer 253.6 252.1 249.7 251.1
69 Credit cards and
related plans 88.0 87.3 85.1 84.6
70 Other 165.7 164.8 164.6 166.5
71 Security (3) 70.1 70.4 73.5 88.6
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 52.9 55.9 59.8 62.8
73 Other 17.2 14.5 13.7 25.8
74 State and local
government 13.3 14.2 14.1 14.3
75 Agricultural 10.4 10.1 9.6 9.3
76 Federal funds sold to
and repurchase
agreements with others 25.5 30.8 31.8 32.5
77 All other loans 84.8 82.4 75.6 106.8
78 Lease-financing
receivables 132.2 131.2 130.2 130.1
79 Interbank loans 135.4 135.6 144.5 200.1
80 Federal funds sold to and
repurchase agreements
with commercial banks 74.7 70.8 76.7 127.1
81 Other 60.7 64.8 67.8 73.0
82 Cash assets (4) 134.1 139.8 132.3 169.4
83 Other assets (5) 264.0 267.1 274.4 302.9
84 Total assets (6) 3,119.5 3,110.9 3,121.6 3,310.5
Liabilities
85 Deposits 1,736.2 1,740.6 1,735.2 1,844.7
86 Transaction 299.8 301.1 292.5 368.3
87 Nontransaction 1,436.5 1,439.5 1,442.7 1,476.4
88 Large time 271.5 267.5 262.7 261.3
89 Other 1,165.0 1,172.0 1,180.0 1,215.1
90 Borrowings 655.3 658.5 651.7 699.2
91 From banks in the U.S. 211.8 215.5 218.1 247.4
92 From nonbanks in the U.S. 443.6 443.0 433.6 451.8
93 Net due to related foreign
offices 190.3 189.2 190.6 177.0
94 Other liabilities 223.1 202.3 216.1 263.1
95 Total liabilities 2,805.0 2,790.7 2,793.7 2,984.0
96 Residual (assets less
liabilities) (7) 314.6 3,202.0 327.9 326.5
Wednesday figures
2001
Sept. Sept. Sept.
Account Sept. 5 12 19 26
Seasonally adjusted
Assets
1 Bank credit 2,622.5 2,788.0 2,694.9 2,652.1
2 Securities in bank credit 623.7 634.1 645.0 653.3
3 U.S. government
securities 357.9 362.6 366.2 365.2
4 Trading account 35.8 41.4 42.1 34.0
5 Investment account 322.1 321.3 324.1 331.2
6 Other securities 265.7 271.5 278.7 288.1
7 Trading account 149.2 154.8 161.7 171.1
8 Investment account 116.5 116.7 117.0 117.0
9 State and local
government 27.5 27.7 27.5 27.5
10 Other 89.0 89.0 89.5 89.5
11 Loans and leases in bank
credit (2) 1,998.8 2,153.9 2,049.9 1,998.7
12 Commercial and
industrial 556.3 571.7 559.1 559.3
13 Bankers acceptances n.a. n.a. n.a. n.a.
14 Other 556.3 571.7 559.1 559.3
15 Real estate 845.2 852.3 850.7 835.1
16 Revolving home equity 88.1 88.7 89.3 88.8
17 Other 757.1 763.6 761.4 746.3
18 Consumer 252.2 253.3 252.9 251.9
19 Security (3) 83.3 124.3 96.1 79.2
20 Federal funds sold to
and repurchase
agreements with
broker-dealers 68.7 73.1 69.1 60.3
21 Other 14.6 51.2 27.0 18.9
22 State and local
government 14.1 14.2 14.2 14.4
23 Agricultural 9.2 9.2 9.2 9.1
24 Federal funds sold to
and repurchase
agreements with others 30.9 36.7 36.1 29.0
25 All other loans 76.4 160.7 99.9 89.0
26 Lease-financing
receivables 131.2 131.5 131.8 131.6
27 Interbank loans 159.4 280.7 206.7 186.4
28 Federal funds sold to and
repurchase agreements
with commercial banks 88.5 199.5 126.1 113.9
29 Other 70.8 81.1 80.6 72.5
30 Cash assets (4) 158.1 226.6 171.9 146.6
31 Other assets (5) 277.9 310.9 280.1 321.9
32 Total assets (6) 3,180.3 3,568.2 3,315.8 3,269.0
Liabilities
33 Deposits 1,789.7 2,008.2 1,837.9 1,800.0
34 Transaction 309.2 482.2 381.8 342.1
35 Nontransaction 1,480.5 1,526.0 1,456.1 1,458.0
36 Large time 266.6 275.0 253.9 261.3
37 Other 1,213.9 1,250.9 1,202.2 1,196.6
38 Borrowings 668.4 775.1 696.3 678.3
39 From banks in the U.S. 245.4 302.4 247.3 242.7
40 From others 423.0 472.8 449.0 435.5
41 Net due to related foreign
offices 171.8 188.7 179.1 171.4
42 Other liabilities 225.5 266.0 273.0 281.7
43 Total liabilities 2,855.5 3,237.9 2,986.3 2,931.5
44 Residual (assets less
liabilities) (7) 324.8 330.3 329.5 337.6
Not seasonally adjusted
Assets
45 Bank credit 2,616.7 2,774.0 2,687.7 2,636.3
46 Securities in bank credit 624.2 631.4 639.9 645.9
47 U.S. government
securities 358.4 360.8 362.3 359.7
48 Trading account 35.9 41.2 41.7 33.5
49 Investment account 322.5 319.7 320.7 326.1
50 Mortgage-backed
securities 247.2 245.3 244.3 253.1
51 Other 75.3 74.3 76.4 73.1
52 One year or less 22.4 20.2 21.6 17.9
53 One to five years 32.1 33.8 34.2 36.2
54 More than five
years 20.8 20.3 20.7 18.9
55 Other securities 265.8 270.5 277.5 286.3
56 Trading account 149.3 154.3 161.1 170.0
57 Investment account 116.5 116.3 116.5 116.3
58 State and local
government 27.5 27.6 27.4 27.3
59 Other 89.0 88.7 89.1 88.9
60 Loans and leases in bank
credit (2) 1,992.5 2,142.6 2,047.8 1,990.3
61 Commercial and
industrial 553.6 568.4 559.2 557.5
62 Bankers acceptances n.a. n.a. n.a. n.a.
63 Other 553.6 568.4 559.2 557.5
64 Real estate 847.1 855.3 852.4 835.8
65 Revolving home equity 89.4 89.9 90.4 89.9
66 Other 459.5 466.1 462.6 447.2
67 Commercial 298.2 299.3 299.3 298.7
68 Consumer 251.3 252.0 251.8 250.6
69 Credit cards and
related plans 85.3 85.0 85.4 84.0
70 Other 166.0 167.1 166.5 166.6
71 Security (3) 77.2 114.9 94.1 74.8
72 Federal funds sold to
and repurchase
agreements with
broker-dealers 63.7 67.6 67.7 56.9
73 Other 13.5 47.3 26.4 17.9
74 State and local
government 14.1 14.2 14.2 14.4
75 Agricultural 9.3 9.3 9.3 9.3
76 Federal funds sold to
and repurchase
agreements with others 30.9 36.7 36.1 29.0
77 All other loans 79.0 161.9 100.7 88.9
78 Lease-financing
receivables 130.0 130.0 130.0 130.1
79 Interbank loans 155.9 267.1 200.5 177.8
80 Federal funds sold to and
repurchase agreements
with commercial banks 86.6 189.9 122.3 108.6
81 Other 69.3 77.2 78.2 69.2
82 Cash assets (4) 165.0 223.5 163.7 1,378.0
83 Other assets (5) 279.7 311.8 279.0 319.4
84 Total assets (6) 3,179.2 3,538.1 3,292.7 3,233.4
Liabilities
85 Deposits 1,799.2 2,005.4 1,818.0 1,768.2
86 Transaction 314.7 478.4 369.3 327.4
87 Nontransaction 1,484.5 1,527.0 1,448.7 1,440.8
88 Large time 265.4 273.0 251.1 255.5
89 Other 1,219.1 1,254.0 1,197.6 1,185.3
90 Borrowings 656.7 755.8 701.8 679.5
91 From banks in the U.S. 236.9 287.4 240.7 233.3
92 From nonbanks in the U.S. 419.9 468.4 461.1 446.2
93 Net due to related foreign
offices 171.5 187.5 177.7 173.3
94 Other liabilities 225.3 264.6 271.0 284.0
95 Total liabilities 2,852.8 3,213.3 2,968.5 2,904.9
96 Residual (assets less
liabilities) (7) 326.4 324.8 324.2 328.5
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
2000 2001
Sept. Mar. Apr. May
Account (r) (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 1,990.6 2,062.6 2,067.6 2,080.6
2 Securities in bank credit 528.1 541.2 540.9 544.7
3 U.S. government
securities 364.3 344.9 342.5 343.1
4 Other securities 163.8 196.3 198.3 201.6
5 Loans and leases in bank
credit (2) 1,462.5 1,521.5 1,526.8 1,535.8
6 Commercial and
industrial 280.6 294.9 294.7 295.2
7 Real estate 789.7 824.9 825.4 830.5
8 Revolving home equity 44.1 47.6 47.8 48.5
9 Other 745.6 777.3 777.7 782.0
10 Consumer 294.7 295.8 298.6 300.4
11 Security (3) 6.8 7.9 8.4 8.5
12 Other loans and leases 90.8 98.0 99.7 101.4
13 Interbank loans 80.8 104.7 114.4 119.5
14 Cash assets 98.0 103.2 103.9 104.7
15 Other assets 88.6 103.1 107.1 105.3
16 Total assets 2,231.9 2,346.7 2,365.6 2,382.4
Liabilities
17 Deposits 1,721.2 1,832.7 1,857.1 1,866.8
18 Transaction 292.4 292.6 295.0 298.1
19 Nontransaction 1,428.8 1,540.1 1,562.1 1,568.7
20 Large time 282.9 301.1 301.6 299.8
21 Other 1,145.8 1,239.0 1,260.5 1,268.9
22 Borrowings 333.5 329.4 332.3 335.6
23 From banks in the U.S. 163.2 149.0 148.8 150.0
24 From others 170.3 180.3 183.5 185.6
25 Net due to related foreign
offices 20.6 15.4 12.8 16.6
26 Other liabilities 47.0 52.9 53.6 55.2
27 Total liabilities 2,122.1 2,230.4 2,255.8 2,274.1
28 Residual (assets less
liabilities) (7) 109.7 116.3 109.8 108.3
Not seasonally adjusted
29 Bank credit 1,995.7 2,058.3 2,067.3 2,081.1
30 Securities in bank credit 527.8 543.4 543.5 546.3
31 U.S. government
securities 364.0 347.1 345.2 344.7
32 Other securities 163.8 196.3 198.3 201.6
33 Loans and leases in bank
credit (2) 1,468.0 1,514.9 1,523.8 1,534.8
34 Commercial and
industrial 279.1 294.6 296.8 297.8
35 Real estate 791.1 823.2 825.1 831.2
36 Revolving home equity 44.3 47.4 47.7 48.6
37 Other 746.9 775.8 777.3 782.6
38 Consumer 298.1 292.3 294.8 297.7
39 Credit cards and
related plans 132.3 126.0 129.2 131.8
40 Other 165.8 166.4 165.6 165.9
41 Security (3) 6.6 8.2 8.5 8.1
42 Other loans and leases 93.0 96.5 98.6 100.0
43 Interbank loans 77.8 110.9 118.3 110.6
44 Cash assets (4) 98.5 98.9 100.4 103.2
45 Other assets (5) 88.6 103.1 107.1 105.3
46 Total assets (6) 2,234.5 2,344.1 2,365.8 2,372.5
Liabilities
47 Deposits 1,715.7 1,840.2 1,864.4 1,860.3
48 Transaction 292.3 290.6 294.5 292.6
49 Nontransaction 1,423.4 1,549.6 1,569.9 1,567.4
50 Large time 282.9 301.1 301.6 299.8
51 Other 1,140.5 1,248.5 1,268.3 1,267.6
52 Borrowings 333.5 329.4 332.3 335.6
53 From banks in the U.S. 163.2 149.0 148.8 150.0
54 From others 170.3 180.3 183.5 185.6
55 Net due to related foreign
offices 20.6 15.4 12.8 16.6
56 Other liabilities 47.0 52.9 53.6 55.2
57 Total liabilities 2,116.7 2,237.9 2,263.1 2,267.7
58 Residual (assets less
liabilities) (7) 117.8 106.2 102.7 104.8
Monthly averages
2001
June July Aug. Sept.
Account (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 2,088.0 2,102.8 2,116.6 2,126.5
2 Securities in bank credit 549.4 556.6 566.3 573.2
3 U.S. government
securities 345.8 353.1 358.8 363.0
4 Other securities 203.6 203.6 207.5 210.3
5 Loans and leases in bank
credit (2) 1,538.6 1,546.2 1,550.3 1,553.2
6 Commercial and
industrial 297.3 300.5 299.9 298.9
7 Real estate 835.0 842.1 846.2 851.5
8 Revolving home equity 49.4 50.8 52.0 53.0
9 Other 785.6 791.3 794.2 798.6
10 Consumer 296.9 295.0 295.5 294.0
11 Security (3) 8.3 8.4 8.5 8.8
12 Other loans and leases 101.1 100.1 100.2 100.0
13 Interbank loans 115.3 115.8 117.6 122.4
14 Cash assets (4) 103.2 105.1 105.0 107.7
15 Other assets (5) 109.9 118.3 121.4 129.9
16 Total assets (6) 2,388.6 2,414.1 2,432.4 2,458.1
Liabilities
17 Deposits 1,885.9 1,903.9 1,918.9 1,936.1
18 Transaction 291.5 290.4 297.0 301.0
19 Nontransaction 1,594.4 1,613.5 1,621.9 1,635.1
20 Large time 298.1 300.8 304.6 304.2
21 Other 1,296.3 1,312.6 1,317.3 1,330.9
22 Borrowings 333.4 335.6 338.9 347.9
23 From banks in the U.S. 148.1 148.2 149.6 153.5
24 From others 185.3 187.5 189.4 194.4
25 Net due to related foreign
offices 13.1 14.7 15.5 10.5
26 Other liabilities 56.3 58.1 58.9 60.4
27 Total liabilities 2,288.8 2,312.4 2,332.2 2,354.8
28 Residual (assets less
liabilities) (7) 99.8 101.7 100.2 103.2
Not seasonally adjusted
Assets
29 Bank credit 2,089.9 2,102.9 2,119.8 2,132.1
30 Securities in bank credit 551.0 556.5 565.6 573.1
31 U.S. government
securities 347.4 352.9 358.1 362.8
32 Other securities 203.6 203.6 207.5 210.3
33 Loans and leases in bank
credit (2) 1,538.9 1,546.4 1,554.2 1,559.0
34 Commercial and
industrial 299.1 300.4 298.2 297.4
35 Real estate 835.8 842.6 848.0 853.3
36 Revolving home equity 49.4 50.5 51.7 53.2
37 Other 786.4 792.1 796.2 800.1
38 Consumer 294.7 294.3 297.8 297.5
39 Credit cards and
related plans 129.0 129.0 131.9 131.1
40 Other 165.8 165.2 165.9 166.4
41 Security (3) 8.1 8.1 8.3 8.6
42 Other loans and leases 101.2 101.0 101.9 102.1
43 Interbank loans 108.6 108.2 111.8 118.3
44 Cash assets (4) 102.0 103.3 102.2 108.4
45 Other assets (5) 109.9 118.3 121.4 129.9
46 Total assets (6) 2,382.7 2,405.4 2,427.0 2,460.3
Liabilities
47 Deposits 1,874.5 1,890.7 1,906.1 1,929.8
48 Transaction 291.2 288.9 294.3 300.9
49 Nontransaction 1,583.4 1,601.8 1,611.8 1,628.9
50 Large time 298.1 300.8 304.6 304.2
51 Other 1,285.3 1,301.0 1,307.2 1,324.7
52 Borrowings 333.4 335.6 338.9 347.9
53 From banks in the U.S. 148.1 148.2 149.6 153.5
54 From others 185.3 187.5 189.4 194.4
55 Net due to related foreign
offices 13.1 14.7 15.5 10.5
56 Other liabilities 56.3 58.1 58.9 60.4
57 Total liabilities 2,277.4 2,299.2 2,319.4 2,348.6
58 Residual (assets less
liabilities) (7) 105.3 106.2 107.6 111.7
Wednesday figures
2001
Sept. Sept. Sept.
Account Sept. 5 12 19 26
Seasonally adjusted
Assets
1 Bank credit 2,128.4 2,116.4 2,127.1 2,128.0
2 Securities in bank credit 547.8 570.6 573.0 571.8
3 U.S. government
securities 365.6 362.4 360.6 360.9
4 Other securities 209.2 208.2 212.5 210.9
5 Loans and leases in bank
credit (2) 1,553.6 1,545.8 1,554.1 1,556.2
6 Commercial and
industrial 300.1 297.7 298.8 299.2
7 Real estate 850.3 843.9 852.1 856.0
8 Revolving home equity 52.6 52.3 53.2 53.4
9 Other 797.8 791.6 799.0 802.7
10 Consumer 295.3 292.0 295.1 293.0
11 Security (3) 8.4 9.8 8.6 8.7
12 Other loans and leases 99.6 102.5 99.5 99.4
13 Interbank loans 115.1 138.9 120.1 121.4
14 Cash assets (4) 107.5 108.2 106.0 108.1
15 Other assets (5) 126.7 136.5 132.8 120.6
16 Total assets (6) 2,449.3 2,471.5 2,457.6 2,449.8
Liabilities
17 Deposits 1,936.7 1,948.4 1,931.0 1,928.1
18 Transaction 289.9 304.3 298.9 312.4
19 Nontransaction 1,646.8 1,644.1 1,632.1 1,615.7
20 Large time 306.4 305.3 304.0 300.9
21 Other 1,340.5 1,338.8 1,328.1 1,314.8
22 Borrowings 343.7 350.7 347.8 348.8
23 From banks in the U.S. 151.8 157.1 151.6 153.7
24 From others 191.9 193.7 196.2 195.1
25 Net due to related foreign
offices 12.8 9.1 10.7 10.4
26 Other liabilities 59.7 61.1 61.5 59.4
27 Total liabilities 2,352.8 2,369.3 2,350.9 2,346.6
28 Residual (assets less
liabilities) (7) 96.5 102.3 106.6 103.2
Not seasonally adjusted
Assets
29 Bank credit 2,132.3 2,122.2 2,134.6 2,135.0
30 Securities in bank credit 573.9 570.7 573.4 572.6
31 U.S. government
securities 364.7 362.5 360.9 361.8
32 Other securities 209.2 208.2 212.5 210.9
33 Loans and leases in bank
credit (2) 1,558.4 1,551.6 1,561.2 1562.4
34 Commercial and 297.9 295.4 297.8 298.2
industrial
35 Real estate 850.8 845.7 854.1 858.8
36 Revolving home equity 52.3 52.4 53.5 53.8
37 Other 798.5 793.3 800.6 805.0
38 Consumer 298.2 295.5 299.7 296.9
39 Credit cards and
related plans 131.7 129.8 133.2 130.2
40 Other 166.5 165.7 166.5 166.7
41 Security (3) 8.7 9.9 8.3 8.1
42 Other loans and leases 102.7 105.1 101.4 100.4
43 Interbank loans 120.0 140.1 111.9 107.0
44 Cash assets (4) 116.9 110.6 103.5 105.0
45 Other assets (5) 126.7 136.5 132.8 120.6
46 Total assets (6) 2,467.5 2,481.0 2,454.3 2,439.3
Liabilities
47 Deposits 1,943.8 1,948.2 1,918.5 1,908.7
48 Transaction 300.2 308.2 294.4 304.2
49 Nontransaction 1,643.6 1,640.1 1,624.0 1,604.4
50 Large time 306.4 305.3 304.0 300.9
51 Other 1,337.2 1,334.8 1,320.1 1,303.6
52 Borrowings 343.7 350.7 347.8 348.8
53 From banks in the U.S. 151.8 157.1 151.6 153.7
54 From others 191.9 193.7 196.2 195.1
55 Net due to related foreign
offices 12.8 9.1 10.7 10.4
56 Other liabilities 59.7 61.1 61.5 59.4
57 Total liabilities 2,359.9 2,369.1 2,338.4 2,327.3
58 Residual (assets less
liabilities) (7) 107.6 111.8 115.8 112.1
E. Foreign-related institutions
Billions of dollars
Monthly averages
2000 2001
Sept. Mar. Apr. May
Account (r) (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 597.3 628.1 626.7 611.5
2 Securities in bank credit 212.3 209.5 221.0 214.6
3 U.S. government securities 75.4 67.2 74.4 69.7
4 Other securities 136.9 142.3 146.5 144.9
5 Loans and leases in bank
credit (2) 385.0 418.6 405.7 397.0
6 Commercial and industrial 204.9 219.2 219.3 218.4
7 Real estate 18.3 18.0 17.5 17.7
8 Security (3) 94.6 111.2 100.8 92.9
9 Other loans and leases 67.2 70.1 68.2 67.9
10 Interbank loans 23.8 29.6 27.7 29.5
11 Cash assets (4) 44.5 40.0 38.7 37.3
12 Other assets (5) 39.4 37.2 39.7 37.3
13 Total assets (6) 704.6 734.6 732.5 715.3
Liabilities
14 Deposits 385.8 380.3 394.3 408.5
15 Transaction 10.1 9.7 10.7 10.6
16 Nontransaction 375.7 370.6 383.6 397.9
17 Borrowings 217.8 236.0 240.2 219.1
18 From banks in the U.S. 20.0 25.8 25.3 20.3
19 From others 197.8 210.2 214.9 198.7
20 Net due to related foreign
offices 21.5 22.0 4.6 -4.3
21 Other liabilities 76.5 82.6 88.8 86.1
22 Total liabilities 701.5 720.9 727.9 709.3
23 Residual (assets less
liabilities) (7) 3.1 13.7 4.6 6.0
Not seasonally adjusted
Assets
24 Bank credit 595.5 623.0 623.8 606.8
25 Securities in bank credit 212.3 209.5 221.0 214.6
26 U.S. government securities 75.4 67.2 74.4 69.7
27 Trading account 14.1 9.8 14.8 13.8
28 Investment account 61.3 57.4 59.6 55.9
29 Other securities 136.9 142.3 146.5 144.9
30 Trading account 92.5 95.4 99.6 99.4
31 Investment account 44.4 46.9 47.0 45.6
32 Loans and leases in bank
credit (2) 383.2 413.5 402.8 392.2
33 Commercial and industrial 204.6 220.3 217.6 215.3
34 Real estate 18.3 18.0 17.5 17.7
35 Security 93.4 105.0 99.4 92.1
36 Other loans and leases 66.9 70.1 68.4 67.1
37 Interbank loans 23.8 29.6 27.7 29.5
38 Cash assets (4) 43.6 38.7 37.2 36.4
39 Other assets (5) 39.2 37.8 38.8 36.7
40 Total assets (6) 701.7 728.7 727.2 709.2
41 Deposits 378.3 384.8 397.2 409.7
42 Transaction 10.3 9.4 10.2 10.2
43 Nontransaction 368.0 375.4 387.0 399.5
44 Borrowings 217.8 236.0 240.2 219.1
45 From bank in the U.S. 20.0 25.8 25.3 20.3
46 From others 197.8 210.2 214.9 198.7
47 Net due to related foreign
offices 23.5 22.2 -.1 -7.5
48 Other liabilities 77.4 82.7 86.7 84.6
49 Total liabilities 697.0 725.6 724.0 705.8
50 Residual (assets less
liabilities) (7) 4.6 3.1 3.2 3.4
Monthly averages
2001
June July Aug. Sept.
Account (r) (r) (r)
Seasonally adjusted
Assets
1 Bank credit 602.9 592.5 592.2 586.3
2 Securities in bank credit 216.0 216.5 219.5 219.9
3 U.S. government securities 68.1 67.1 66.8 69.6
4 Other securities 148.0 149.4 152.7 150.4
5 Loans and leases in bank
credit (2) 386.9 376.0 372.7 366.4
6 Commercial and industrial 211.2 206.3 205.0 204.6
7 Real estate 17.6 17.9 18.2 18.7
8 Security (3) 91.2 86.5 83.8 78.1
9 Other loans and leases 66.8 65.4 65.7 65.0
10 Interbank loans 21.9 21.3 20.4 25.8
11 Cash assets (4) 36.3 36.8 37.3 44.7
12 Other assets (5) 37.1 31.7 29.2 31.4
13 Total assets (6) 697.9 681.9 678.7 687.8
Liabilities
14 Deposits 418.7 412.5 403.3 404.1
15 Transaction 9.5 9.3 9.9 12.9
16 Nontransaction 409.2 403.2 393.4 391.2
17 Borrowings 215.8 210.7 210.3 218.7
18 From banks in the U.S. 22.5 22.3 20.9 29.2
19 From others 193.3 188.4 189.4 189.5
20 Net due to related foreign
offices -19.6 -16.2 -11.7 -18.3
21 Other liabilities 84.6 79.5 78.6 80.5
22 Total liabilities 699.4 686.5 680.5 685.0
23 Residual (assets less
liabilities) (7) -1.5 -4.6 -1.8 2.9
Not seasonally adjusted
Assets
24 Bank credit 599.2 588.0 585.8 584.5
25 Securities in bank credit 216.0 216.5 219.5 219.9
26 U.S. government securities 68.1 67.1 66.8 69.6
27 Trading account 13.7 13.0 12.3 13.6
28 Investment account 54.4 54.1 54.5 55.9
29 Other securities 148.0 149.4 152.7 150.4
30 Trading account 105.7 108.0 110.9 109.4
31 Investment account 42.2 41.4 41.8 41.0
32 Loans and leases in bank
credit (2) 383.1 371.5 366.3 364.6
33 Commercial and industrial 210.1 205.5 203.7 204.2
34 Real estate 17.6 17.9 18.2 18.7
35 Security 89.2 83.6 80.0 76.9
36 Other loans and leases 66.2 64.4 64.5 64.7
37 Interbank loans 21.9 21.3 20.4 25.8
38 Cash assets (4) 35.2 35.5 36.1 43.7
39 Other assets (5) 35.8 30.9 28.9 31.2
40 Total assets (6) 691.7 675.3 670.9 684.9
41 Deposits 411.6 402.3 391.6 396.2
42 Transaction 9.3 9.4 9.9 13.2
43 Nontransaction 402.2 392.9 381.6 383.0
44 Borrowings 215.8 210.7 210.3 218.7
45 From bank in the U.S. 22.5 22.3 20.9 29.2
46 From others 193.3 188.4 189.4 189.5
47 Net due to related foreign
offices -22.7 -19.4 -12.9 -15.9
48 Other liabilities 83.1 78.1 78.1 81.7
49 Total liabilities 687.6 671.7 667.0 680.7
50 Residual (assets less
liabilities) (7) 4.1 3.6 3.9 4.2
Wednesday figures
2001
Sept. Sept. Sept. Sept.
Account 5 12 19 26
Seasonally adjusted
Assets
1 Bank credit 591.9 582.4 591.1 587.0
2 Securities in bank credit 220.5 216.7 219.5 221.9
3 U.S. government securities 68.7 67.9 68.9 71.2
4 Other securities 151.8 148.8 150.6 150.8
5 Loans and leases in bank
credit (2) 371.4 365.7 371.6 365.1
6 Commercial and industrial 203.2 203.5 207.5 205.5
7 Real estate 18.7 18.3 18.8 18.9
8 Security (3) 85.7 77.8 78.9 76.7
9 Other loans and leases 63.8 66.1 66.4 64.1
10 Interbank (1) 25.4 21.6 30.6 27.9
11 Cash assets (4) 38.7 52.2 49.1 39.5
12 Other assets (5) 26.1 29.9 33.2 34.2
13 Total assets (6) 681.8 685.8 703.6 688.2
Liabilities
14 Deposits 402.6 408.0 398.0 405.1
15 Transaction 12.2 14.8 12.6 13.0
16 Nontransaction 390.4 393.2 385.4 392.1
17 Borrowings 207.4 228.0 228.0 212.7
18 From banks in the U.S. 18.4 45.1 27.3 22.8
19 From others 188.9 182.9 200.7 190.0
20 Net due to related foreign
offices -10.8 -33.5 -7.7 -13.7
21 Other liabilities 74.9 78.6 85.1 82.2
22 Total liabilities 673.9 681.1 703.4 686.3
23 Residual (assets less
liabilities) (7) 7.9 4.7 .3 1.9
Not seasonally adjusted
Assets
24 Bank credit 582.9 578.9 591.4 588.6
25 Securities in bank credit 220.5 216.7 219.5 221.9
26 U.S. government securities 68.7 67.9 68.9 71.2
27 Trading account 12.5 12.0 13.6 15.7
28 Investment account 56.2 55.8 55.2 55.5
29 Other securities 151.8 148.8 150.6 150.8
30 Trading account 110.8 107.4 109.8 110.4
31 Investment account 41.1 41.4 40.8 40.4
32 Loans and leases in bank
credit (2) 362.4 362.2 371.9 366.6
33 Commercial and industrial 201.4 202.2 207.3 206.0
34 Real estate 18.7 18.3 18.8 18.9
35 Security 78.7 76.0 79.9 77.7
36 Other loans and leases 63.5 65.8 65.9 64.0
37 Interbank loans 25.4 21.6 30.6 27.9
38 Cash assets (4) 37.4 50.1 47.4 39.9
39 Other assets (5) 26.4 30.0 32.7 33.7
40 Total assets (6) 671.7 680.2 701.8 689.7
41 Deposits 390.9 397.7 389.5 401.7
42 Transaction 12.3 14.9 12.8 13.9
43 Nontransaction 378.6 382.8 376.7 387.9
44 Borrowings 207.3 228.0 228.0 212.7
45 From bank in the U.S. 18.4 45.1 27.3 22.8
46 From others 188.9 182.9 200.7 190.0
47 Net due to related foreign
offices -7.0 -30.5 -5.8 -11.9
48 Other liabilities 76.6 80.2 86.0 83.1
49 Total liabilities 667.8 675.3 697.7 685.7
50 Residual (assets less
liabilities) (7) 3.9 4.9 4.1 4.0
F. Memo items
Billions of dollars
Monthly averages
2000 2001
Sept. Mar. Apr. May
Account (r) (r) (r) (r)
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-
sheet items (8) 74.5 80.8 79.9 82.0
2 Revaluation losses on off-balance-
sheet items (8) 73.9 79.8 74.9 74.7
3 Mortgage-backed securities (9) 243.6 251.5 259.1 266.0
4 Pass-through 174.3 186.2 195.3 200.8
5 CMO, REMIC, and other 69.3 65.3 63.8 65.2
6 Net unrealized gains (losses) on
available-for-sale
securities (10) -5.0 6.3 6.0 4.8
7 Off-shore credit to U.S.
residents (11) 22.1 22.6 21.7 21.0
8 Securitized consumer loans (12) 81.6 78.8 81.3 79.6
9 Credit cards and related plans 71.8 69.1 71.8 70.4
10 Other 9.8 9.8 9.5 9.2
11 Securitized business loans (12) 7.5 9.4 9.3 9.2
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 206.4 225.2 233.4 238.3
13 Securitized consumer loans (12) 222.3 236.4 234.7 234.5
14 Credit cards and related plans 214.0 227.8 226.1 226.1
15 Other 8.3 8.7 8.6 8.4
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 49.4 52.8 56.5 56.4
17 Revaluation losses on off-balance-
sheet items (8) 46.8 49.9 52.2 51.9
18 Secaritized business loans (12) 34.6 33.0 31.3 29.5
Monthly averages
2001
June July Aug. Sept.
Account (r) (r) (r)
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-
sheet items (8) 87.3 77.6 87.7 102.6
2 Revaluation losses on off-balance-
sheet items (8) 81.6 71.7 78.4 91.5
3 Mortgage-backed securities (9) 262.2 261.8 273.9 280.8
4 Pass-through 200.8 200.1 212.2 218.1
5 CMO, REMIC, and other 61.4 61.7 61.7 62.8
6 Net unrealized gains (losses) on
available-for-sale
securities (10) 3.6 3.1 5.3 6.8
7 Off-shore credit to U.S.
residents (11) 20.6 20.2 19.6 20.1
8 Securitized consumer loans (12) 81.1 95.5 95.4 96.2
9 Credit cards and related plans 72.2 86.1 85.6 86.6
10 Other 8.9 9.4 9.8 9.6
11 Securitized business loans (12) 10.8 19.9 20.1 20.1
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 242.0 248.7 253.2 258.3
13 Securitized consumer loans (12) 237.7 226.2 229.0 232.5
14 Credit cards and related plans 229.1 217.9 220.7 224.2
15 Other 8.5 8.3 8.3 8.3
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 57.3 54.9 57.3 56.3
17 Revaluation losses on off-balance-
sheet items (8) 52.1 49.8 52.1 51.4
18 Secaritized business loans (12) 28.3 27.1 26.6 26.6
Wednesday figures
2001
Sept. Sept. Sept. Sept.
Account 5 12 19 26
Notseasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-
sheet items (8) 84.9 95.3 104.9 113.8
2 Revaluation losses on off-balance-
sheet items (8) 74.1 85.2 93.6 100.5
3 Mortgage-backed securities (9) 277.3 275.9 275.4 283.7
4 Pass-through 215.5 214.2 213.9 223.0
5 CMO, REMIC, and other 61.8 61.8 61.5 60.7
6 Net unrealized gains (losses) on
available-for-sale
securities (10) 6.2 6.0 7.1 7.7
7 Off-shore credit to U.S.
residents (11) 19.4 20.6 20.5 20.0
8 Securitized consumer loans (12) 96.4 96.3 96.2 95.7
9 Credit cards and related plans 86.7 86.7 86.6 86.2
10 Other 9.6 9.6 9.5 9.5
11 Securitized business loans (12) 20.1 20.0 20.1 20.4
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 259.2 259.8 256.5 256.8
13 Securitized consumer loans (12) 231.6 232.0 229.3 232.8
14 Credit cards and related plans 223.3 223.7 221.1 224.7
15 Other 8.3 8.2 8.2 8.1
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 56.7 54.7 57.4 56.6
17 Revaluation losses on off-balance-
sheet items (8) 51.5 49.9 52.5 51.9
18 Secaritized business loans (12) 26.4 26.6 26.6 26.6
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. Data are Wednesday values or pro rata averages of Wednesday
values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on
weekly samples and on quarter-end condition reports. Data are adjusted
for breaks caused by reclassifications of assets and liabilities.
The data for large and small domestic banks presented on pp. A17-19 are
adjusted to remove the estimated effects of mergers between these two
groups. The adjustment for mergers changes past levels to make them
comparable with current levels. Estimated quantities of balance sheet
items acquired in mergers are removed from past data for the bank
group that contained the acquired bank and put into past data for the
group containing the acquiring bank. Balance sheet data for acquired
banks are obtained from Call Reports, and a ratio procedure is used to
adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans made
to commercial banks in the United States, all of which are included
in "Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balances due from depository institutions, and balances due from
Federal Reserve Banks.
(5.) Excludes the due-from position with related foreign offices,
which is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and
leases, and reserves for transfer risk. Loans are reported gross
of these items.
(7.) This balancing item is not intended as a measure of equity
capital for use in capital adequacy analysis. On a seasonally
adjusted basis, this item reflects any differences in the seasonal
patterns estimated for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private entities.
(10.) Difference between fair value and historical cost for securities
classified as available-for-sale under FASB Statement No. 115. Data
are reported net of tax effects. Data shown are restated to include an
estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER AND BANKERS DOLLAR ACCEPTANCES OUTSTANDING
A. Commercial Paper
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item 1996 1997 1998
1 All issuers 775,371 966,699 1,163,303
Financial companies
(1)
2 Dealer-placed
paper, total (2) 361,147 513,307 614,142
3 Directly placed
paper, total (3) 229,662 252,536 322,030
4 Nonfinancial
companies (4) 184,563 200,857 227,132
Year ending December 2001
Item 1999 2000 Mar. Apr.
1 All issuers 1,403,023 1,615,341 1,511,354 1,519,528
Financial companies
(1)
2 Dealer-placed
paper, total (2) 786,643 973,060 978,225 995,072
3 Directly placed
paper, total (3) 337,240 298,848 249,420 247,333
4 Nonfinancial
companies (4) 279,132 343,433 283,711 277,123
2001
Item May June July Aug.
1 All issuers 1,501,113 1,468,919 1,453,770 1,434,238
Financial companies
(1)
2 Dealer-placed
paper, total (2) 986,369 982,216 958,911 957,792
3 Directly placed
paper, total (3) 245,768 244,520 265,824 248,974
4 Nonfinancial
companies (4) 268,976 242,183 229,035 227,473
(1.) Institutions engaged primarily in commercial, savings, and
mortgage banking; sales, personal and mortgage financing; factoring,
finance leasing, and other business lending; insurance underwriting;
and other investment activities.
(2.) Includes all financial-company paper sold by dealers in the open
market.
(3.) As reported by financial companies that place their paper
directly with investors.
(4.) Includes public utilities and firms engaged primarily in such
activities as communications, construction, manufacturing, mining,
wholesale and retail trade, transportation, and services.
B. Bankers Dollar Acceptances (1)
Millions of dollars, hot seasonally adjusted,
year ending September (2)
Item 1997 1998 1999 2000
1 Total amount of reporting banks'
acceptances in existence 25,774 14,363 10,094 9,881
2 Amount of other banks' eligible
acceptances held by reporting
banks 736 523 461 462
3 Amount of own eligible
acceptances held by reporting
banks (included in item 1) 6,862 4,884 4,261 3,789
4 Amount of eligible acceptances
representing goods stored in,
or shipped between, foreign
countries (included in item 1) 10,467 5,413 3,498 3,689
(1.) Includes eligible, dollar-denominated bankers acceptances legally
payable in the United States. Eligible acceptances are those that are
eligible for discount by Federal Reserve Banks; that is, those
acceptances that meet the criteria of Paragraph 7 of Section 13 of the
Federal Reserve Act (12 U.S.C. [section] 372).
(2.) Data on bankers dollar acceptances are gathered from approximately
40 institutions; includes U.S. chartered commercial banks (domestic and
foreign offices), U.S. branches and agencies of foreign banks, and Edge
and agreement corporations. The reporting group is revised every year.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent per year
Date of change Rate
1998-Jan. 1 8.50
Sept. 30 8.25
Oct. 16 8.00
Nov. 18 7.75
1999-July 1 8.00
Aug. 25 8.25
Nov. 17 8.50
2000-Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
2001-Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Aug. 22 6.50
Sept. 18 6.00
Oct. 3 5.50
Average
Period rate
1998 8.35
1999 8.00
2000 9.23
1998-Jan. 8.50
Feb. 8.50
Mar. 8.50
Apr. 8.50
May 8.50
June 8.50
July 8.50
Aug. 8.50
Sept. 8.49
Oct. 8.12
Nov. 7.89
Dec. 7.75
Average
Period rate
1999-Jan. 7.75
Feb. 7.75
Mar. 7.75
Apr. 7.75
May 7.75
June 7.75
July 8.00
Aug. 8.06
Sept. 8.25
Oct. 8.25
Nov. 8.37
Dec. 8.50
Average
Period rate
2000-Jan. 8.50
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
July 9.50
Aug. 9.50
Sept. 9.50
Oct. 9.50
Nov. 9.50
Dec. 9.50
2001-Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
Sept. 6.28
Oct. 5.53
(1.) The prime rate is one of several base rates that banks use to
price short-term business loans. The table shows the date on which a
new rate came to be the predominant one quoted by a majority of the
twenty-five largest banks by asset size, based on the most recent Call
Report. Data in this table also appear in the Board's H.15 (519)
weekly and G.13 (415) monthly statistical releases. For ordering
address, see inside front cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of business day data unless
otherwise noted
2001
Item 1998 1999 2000 June
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 5.35 4.97 6.24 3.97
2 Discount window borrowing (2,4) 4.92 4.62 5.73 3.47
Commercial paper (3,5,6)
Nonfinancial
3 1-month 5.40 5.09 6.27 3.82
4 2-month 5.38 5.14 6.29 3.73
5 3-month 5.34 5.18 6.31 3.67
Financial
6 1-month 5.42 5.11 6.28 3.84
7 2-month 5.40 5.16 6.30 3.75
8 3-month 5.37 5.22 6.33 3.69
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month 5.39 5.24 6.23 n.a.
16 6-month 5.30 5.30 6.37 n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 5.49 5.19 6.35 3.86
18 3-month 5.47 5.33 6.46 3.74
19 6-month 5.44 5.46 6.59 3.74
20 Eurodollar deposits, 3-month
(3,11) 5.45 5.31 6.45 3.73
US. Treasury bills
Secondary market (3,5)
21 3-month 4.78 4.64 5.82 3.49
22 6-month 4.83 4.75 5.90 3.45
23 1-year 4.80 4.81 5.78 3.37
Auction high (3,5,12)
24 3-month 4.81 4.66 5.66 n.a.
25 6-month 4.85 4.76 5.85 n.a.
26 1-year 4.85 4.78 5.85 n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 5.05 5.08 6.11 3.58
28 2-year 5.13 5.43 6.26 4.08
29 3-year 5.14 5.49 6.22 4.35
30 5-year 5.15 5.55 6.16 4.81
31 7-year 5.28 5.79 6.20 5.14
32 10-year 5.26 5.65 6.03 5.28
33 20-year 5.72 6.20 6.23 5.82
34 30-year 5.58 5.87 5.94 5.67
Composite
35 More than 10 years (long-term) 5.69 6.14 6.41 n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.93 5.28 5.58 5.03
37 Baa 5.14 5.70 6.19 5.82
38 Bond Buyer series (15) 5.09 5.43 5.71 5.20
CORPORATE BONDS
39 Seasoned issues, all
industries (16) 6.87 7.45 7.98 7.56
Rating group
40 Aaa 6.53 7.05 7.62 7.18
41 Aa 6.80 7.36 7.83 7.34
42 A 6.93 7.53 8.11 7.73
43 Baa 7.22 7.88 8.36 7.97
MEMO
Dividend-price ratio (17)
44 Common stocks 1.49 1.25 1.15 1.27
2001,
2001 week
ending
Item July Aug. Sept. Aug. 31
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 3.77 3.65 3.07 3.52
2 Discount window borrowing (2,4) 3.25 3.16 2.77 3.00
Commercial paper (3,5,6)
Nonfinancial
3 1-month 3.71 3.54 2.96 3.48
4 2-month 3.63 3.47 2.87 3.41
5 3-month 3.59 3.42 2.81 3.35
Financial
6 1-month 3.73 3.57 2.97 3.50
7 2-month 3.66 3.48 2.87 3.44
8 3-month 3.62 3.44 2.84 3.38
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 3.76 3.59 2.99 3.54
18 3-month 3.66 3.48 2.87 3.43
19 6-month 3.70 3.49 2.84 3.42
20 Eurodollar deposits, 3-month
(3,11) 3.66 3.47 2.85 3.43
US. Treasury bills
Secondary market (3,5)
21 3-month 3.51 3.36 2.64 3.33
22 6-month 3.45 3.29 2.63 3.23
23 1-year 3.39 3.26 n.a. n.a.
Auction high (3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 3.62 3.47 2.82 3.44
28 2-year 4.04 3.76 3.12 3.68
29 3-year 4.31 4.04 3.45 3.94
30 5-year 4.76 4.57 4.12 4.47
31 7-year 5.06 4.84 4.51 4.73
32 10-year 5.24 4.97 4.73 4.84
33 20-year 5.75 5.58 5.53 5.48
34 30-year 5.61 5.48 5.48 5.40
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.79 4.89 4.93 4.82
37 Baa 5.81 5.55 5.62 5.44
38 Bond Buyer series (15) 5.20 5.03 n.a. 4.96
CORPORATE BONDS
39 Seasoned issues, all
industries (16) 7.51 7.37 7.54 7.29
Rating group
40 Aaa 7.13 7.02 7.17 6.95
41 Aa 7.27 7.11 7.28 7.05
42 A 7.65 7.48 7.67 7.40
43 Baa 7.97 7.85 8.03 7.78
MEMO
Dividend-price ratio (17)
44 Common stocks 1.30 1.34 1.48 1.37
2001, week ending
Sept. Sept. Sept. Sept.
Item 7 14 21 28
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 3.63 3.49 2.47 2.99
2 Discount window borrowing (2,4) 3.00 3.00 2.79 2.50
Commercial paper (3,5,6)
Nonfinancial
3 1-month 3.48 3.43 2.68 2.62
4 2-month 3.40 3.25 2.67 2.49
5 3-month 3.35 3.17 2.62 2.42
Financial
6 1-month 3.51 3.45 2.68 2.62
7 2-month 3.41 3.23 2.63 2.52
8 3-month 3.36 3.17 2.65 2.47
Commercial paper (historical)
(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper, directly placed
(historical) (3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances (3,5,9)
15 3-month n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market (3,10)
17 1-month 3.54 3.46 2.75 2.61
18 3-month 3.40 3.18 2.67 2.52
19 6-month 3.41 3.13 2.65 2.48
20 Eurodollar deposits, 3-month
(3,11) 3.40 3.26 2.68 2.50
US. Treasury bills
Secondary market (3,5)
21 3-month 3.29 2.82 2.30 2.34
22 6-month 3.24 2.80 2.38 2.29
23 1-year n.a. n.a. n.a. n.a.
Auction high (3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities (13)
27 1-year 3.43 2.95 2.60 2.49
28 2-year 3.70 3.13 2.91 2.86
29 3-year 3.98 3.44 3.27 3.22
30 5-year 4.53 4.12 3.96 3.94
31 7-year 4.79 4.47 4.43 4.40
32 10-year 4.91 4.68 4.70 4.66
33 20-year 5.53 5.43 5.58 5.53
34 30-year 5.45 5.39 5.55 5.51
Composite
35 More than 10 years (long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series (14)
36 Aaa 4.87 n.a. n.a. 4.99
37 Baa 5.49 n.a. n.a. 5.75
38 Bond Buyer series (15) 5.02 n.a. 5.12 5.14
CORPORATE BONDS
39 Seasoned issues, all
industries (16) 7.34 7.35 7.70 7.64
Rating group
40 Aaa 6.99 7.00 7.34 7.27
41 Aa 7.10 7.08 7.43 7.38
42 A 7.46 7.48 7.84 7.79
43 Baa 7.83 7.85 8.20 8.12
MEMO
Dividend-price ratio (17)
44 Common stocks 1.39 n.a. n.a. n.a.
NOTE. Some of the data in this table also appear in the Board's H. 15
(519) weekly and G. 13 (415) monthly statistical releases. For
ordering address, see inside front cover.
(1.) The daily effective federal funds rate is a weighted average of
rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days, ending on
Wednesday of the current week; monthly figures include each calendar
day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) Rate for the Federal Reserve Bank of New York.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial paper
trades settled by the Depository Trust Company. The trades represent
sales of commercial paper by dealers or direct issuers to investors
(that is, the offer side). See the Board's Commercial Paper web pages
(http://www.federalreserve.gov/releases/cp) for more information.
(7.) An average of offering rates on commercial paper for firms whose
bond rating is AA or the equivalent. Series ended August 29, 1997.
(8.) An average of offering rates on paper directly placed by finance
companies. Series ended August 29, 1997.
(9.) Representative closing yields for acceptances of the
highest-rated money center banks.
(10.) An average of dealer offering rates on nationally traded
certificates of deposit.
(11.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purposes only.
(12.) Auction date for daily data; weekly and monthly averages
computed on an issue-date basis. On or after October 28, 1998, data
are stop yields from uniform-price auctions. Before that, they are
weighted average yields from multiple-price auctions.
(13.) Yields on actively traded issues adjusted to constant
maturities. SOURCE: U.S. Department of the Treasury.
(14.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(15.) State and local government general obligation bonds maturing in
twenty years are used in compiling this index. The twenty-bond index
has a rating roughly equivalent to Moodys' A1 rating. Based on
Thursday figures.
(16.) Daily figures from Moody's Investors Service. Based on yields to
maturity on selected long-term bonds.
(17.) Standard & Poor's corporate series. Common stock ratio is based
on the 500 stocks in the price index.
1.36 STOCK MARKET Selected Statistics
Indicator 1998 1999 2000 Jan.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 550.65 619.52 643.71 650.55
2 Industrial 684.35 775.29 809.40 796.74
3 Transportation 468.61 491.62 414.73 471.21
4 Utility 190.52 284.82 478.99 440.36
5 Finance 516.65 530.97 552.48 634.17
6 Standard & Poor's
Corporation
(1941-43 =
10) (1) 1,085.50 1,327.33 1,427.22 1,335.63
7 American Stock
Exchange (Aug.
31, 1973 =
50) (2) 682.69 770.90 922.22 898.18
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 666,534 799,554 1,026,867 1,299,986
9 American Stock
Exchange 28,870 32,629 51,437 72,312
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-
dealers (3) 140,980 228,530 198,790 197,110
Free credit
balances at
broker (4)
11 Margin accounts (5) 40,250 55,130 100,680 90,380
12 Cash accounts 62,450 79,070 84,400 81,380
Margin requirements (percent
of market value and
effective date) (6)
Mar. 11, 1968 June 8, 1968
13 Margin stocks 70 80
14 Convertible bonds 50 60
15 Short sale 70 80
2001
Indicator Feb. Mar. Apr. May
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 648.05 603.44 607.06 644.44
2 Industrial 799.38 744.21 747.48 798.94
3 Transportation 482.26 452.36 455.22 477.21
4 Utility 424.53 395.34 400.49 414.69
5 Finance 626.41 583.38 587.88 618.74
6 Standard & Poor's
Corporation
(1941-43 =
10) (1) 1,305.75 1,185.85 1,189.84 1,270.37
7 American Stock
Exchange (Aug.
31, 1973 =
50) (2) 923.99 891.22 891.18 940.73
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,117,977 1,251,569 1,247,382 1,091,366
9 American Stock
Exchange 70,648 81,666 77,612 66,103
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-
dealers (3) 186,810 165,350 166,940 174,180
Free credit
balances at
broker (4)
11 Margin accounts (5) 99,390 106,300 97,470 91,990
12 Cash accounts 78,660 77,520 77,460 76,260
Margin requirements (percent
of market value and
effective date) (6)
May 6, 1970 Dec. 6, 1971
13 Margin stocks 65 55
14 Convertible bonds 50 50
15 Short sale 65 55
2001
Indicator June July Aug. Sept.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange (Dec.
31, 1965 = 50) 630.86 613.36 604.52 544.39
2 Industrial 782.73 756.04 748.65 672.89
3 Transportation 458.60 469.80 458.35 382.68
4 Utility 382.98 374.11 357.76 339.72
5 Finance 622.17 614.54 605.59 538.01
6 Standard & Poor's
Corporation
(1941-43 =
10) (1) 1,238.71 1,204.45 1,178.51 1,044.64
7 American Stock
Exchange (Aug.
31, 1973 =
50) (2) 923.06 892.74 883.01 823.78
Volume of trading
(thousands of
shares)
8 New York Stock
Exchange 1,152,193 1,120,074 1,012,907 1,666,980
9 American Stock
Exchange 62,395 56,735 48,304 72,319
Customer financing (millions of
dollars, end-of-period balances)
10 Margin credit at
broker-
dealers (3) 170,000 165,250 161,130 144,670
Free credit
balances at
broker (4)
11 Margin accounts (5) 98,430 97,950 103,990 115,450
12 Cash accounts 75,270 73,490 73,710 74,220
Margin requirements (percent
of market value and
effective date) (6)
Nov. 24, 1972 Jan. 3, 1974
13 Margin stocks 65 50
14 Convertible bonds 50 50
15 Short sale 65 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly 425),
20 transportation (formerly 15 rail), 40 public utility (formerly 60),
and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit at
broker-dealers has included credit extended against stocks,
convertible bonds, stocks acquired through the exercise of
subscription rights, corporate bonds, and government securities.
Separate reporting of data for margin stocks, convertible bonds, and
subscription issues was discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board
of Governors pursuant to the Securities Exchange Act of 1934, limit
the amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are
the difference between the market value (100 percent) and the maximum
loan value of collateral as prescribed by the Board. Regulation T was
adopted effective Oct. 15, 1934; Regulation U, effective May 1, 1936;
Regulation G, effective Mar. 11, 1968; and Regulation X, effective
Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established
in Regulation T the initial margin required for writing options on
securities, setting it at 30 percent of the current market value of
the stock underlying the option. On Sept. 30, 1985, the Board changed
the required initial margin, allowing it to be the same as the option
maintenance margin required by the appropriate exchange or
self-regulatory organization; such maintenance margin rules must be
approved by the Securities and Exchange Commission.
1.38 FEDERAL FISCAL AND FINANCING OPERATIONS
Millions of dollars
Fiscal year
Type of account or operation 1999 2000 2001
U.S. Budget (1)
1 Receipts, total 1,827,302 2,025,218 1,990,203
2 On-budget 1,382,986 1,544,634 1,482,684
3 Off-budget 444,468 480,584 507,519
4 Outlays, total 1,702,875 1,788,826 1,863,039
5 On-budget 1,382,097 1,458,061 1,516,201
6 Off-budget 320,778 330,765 346,838
7 Surplus or deficit (-),
total 124,579 236,392 127,165
8 On-budget 889 86,573 -33,517
9 Off-budget 123,690 149,819 160,682
Source of financing (total)
10 Borrowing from the public -88,674 -222,807(r) -90,118
11 Operating cash (decrease, or
increase [-]) -17,580 3,799 8,440
12 Other (2) -18,325 -17,384(r) -45,487
MEMO
13 Treasury operating balance
(level, end of period) 56,458 52,659 44,219
14 Federal Reserve Banks 6,641 8,459 9,796
15 Tax and loan accounts 49,817 44,199 34,423
Calendar year
2001
Type of account or operation Apr. May June
U.S. Budget (1)
1 Receipts, total 331,796 125,590 202,887
2 On-budget 278,611 84,759 151,482
3 Off-budget 53,185 40,831 51,405
4 Outlays, total 141,999 153,508 171,025
5 On-budget 109,938 118,517 167,796
6 Off-budget 32,062 34,992 3,229
7 Surplus or deficit (-),
total 189,796 -27,919 31,862
8 On-budget 168,673 -33,758 -16,314
9 Off-budget 21,123 5,839 48,176
Source of financing (total)
10 Borrowing from the public -135,572 -20,608 -1,212
11 Operating cash (decrease, or
increase [-]) -36,846 58,856 -37,413
12 Other (2) -17,378 -10,329 6,763
MEMO
13 Treasury operating balance
(level, end of period) 65,130 6,274 43,687
14 Federal Reserve Banks 7,894 4,396 7,188
15 Tax and loan accounts 57,236 1,878 36,498
Calendar year
2001
Type of account or operation July Aug. Sept.
U.S. Budget (1)
1 Receipts, total 127,842 122,559 158,495
2 On-budget 89,473 84,011 116,597
3 Off-budget 38,369 38,548 41,898
4 Outlays, total 125,022 202,549 123,105
5 On-budget 92,145 138,167 111,109
6 Off-budget 32,877 64,382 11,996
7 Surplus or deficit (-),
total 2,820 -79,990 35,390
8 On-budget -2,672 -54,156 5,488
9 Off-budget 5,492 -25,834 29,902
Source of financing (total)
10 Borrowing from the public -7,460 74,101 1,996
11 Operating cash (decrease, or
increase [-]) 20,589 16,769 -37,890
12 Other (2) -15,949 -10,880 504
MEMO
13 Treasury operating balance
(level, end of period) 23,098 6,329 44,219
14 Federal Reserve Banks 5,592 5,533 9,796
15 Tax and loan accounts 17,506 795 34,423
(1.) Since 1990, off-budget items have been the social security trust
funds (Federal Old-Age, Survivors, and Disability Insurance) and the
U.S. Postal Service.
(2.) Includes special drawing rights (SDRs); reserve position on the
U.S. quota in the International Monetary Fund (IMF); loans to the IMF
other cash and monetary assets; accrued interest payable to the
public; allocations of SDRs; deposit funds; miscellaneous liability
(including checks outstanding) and asset accounts; seigniorage;
increment on gold; net gain or loss for U.S. currency valuation
adjustment; net gain or loss for IMF loan-valuation adjustment; and
profit on sale of gold.
SOURCE. Monthly totals; U.S. Department of the Treasury, Monthly
Treasury Statement of Receipts and Outlays of the U.S. Government; and
fiscal year totals: U.S. Office of Management and Budget, Budget of
the US. Government when available.
1.39 U.S. BUDGET RECEIPTS AND OUTLAYS (1)
Millions of dollars
Calendar
Fiscal year year
1999
Source or type 2000 2001 H2
RECEIPTS
1 All sources 2,025,218 1,990,203 892,266
2 Individual income taxes, net 1,004,462 994,339 425,451
3 Withheld 780,397 793,386 372,012
4 Nonwithheld 358,049 383,146 68,302
5 Refunds 134,046 182,251 14,841
Corporation income taxes
6 Gross receipts 235,655 186,732 110,111
7 Refunds 28,367 35,657 13,996
8 Social insurance taxes and
contributions, net 652,852 693,967 292,551
9 Employment taxes and
contributions (2) 620,451 661,442 280,059
10 Unemployment insurance 27,640 27,812 10,173
11 Other net receipts (3) 4,761 4,712 2,319
12 Excise taxes 68,865 66,232 34,262
13 Customs deposits 19,914 19,616 10,287
14 Estate and gift taxes 29,010 28,400 14,001
15 Miscellaneous receipts (4) 42,826 36,576 19,569
OUTLAYS
16 All types 1,788,826 1,863,039 882,465
17 National defense 294,494 304,486 149,573
18 International affairs 17,216 16,522 8,530
19 General science, space, and
technology 18,637 20,715 10,089
20 Energy -1,060 -677 -90
21 Natural resources and environment 25,031 23,738 12,100
22 Agriculture 36,641 28,339 20,887
23 Commerce and housing credit 3,211 5,801 7,353
24 Transportation 46,854 53,882 23,199
25 Community and regional
development 10,629 12,827 6,806
26 Education, training, employment,
and social services 59,201 62,869 27,532
27 Health 154,534 171,912 74,490
28 Social security and Medicare 606,549 650,407 295,030
29 Income security 247,895 263,274 113,504
30 Veterans benefits and services 47,083 45,029 23,412
31 Administration of justice 27,820 29,754 13,459
32 General government 13,454 15,084 7,010
33 Net interest (5) 223,218 206,088 112,420
34 Undistributed offsetting
receipts (6) -42,581 -47,011 -22,850
Calendar year
2000 2001
Source or type H1 H2 H1
RECEIPTS
1 All sources 1,089,763 952,942 1,120,040
2 Individual income taxes, net 550,208 458,679 580,632
3 Withheld 388,526 395,572 402,417
4 Nonwithheld 281,103 77,732 308,418
5 Refunds 119,477 14,628 130,256
Corporation income taxes
6 Gross receipts 119,166 123,962 102,947
7 Refunds 13,781 15,776 20,262
8 Social insurance taxes and
contributions, net 353,514 310,122 379,878
9 Employment taxes and
contributions (2) 333,584 297,665 359,648
10 Unemployment insurance 17,562 10,097 17,842
11 Other net receipts (3) 2,368 2,360 2,387
12 Excise taxes 33,532 35,501 32,490
13 Customs deposits 9,218 10,676 9,370
14 Estate and gift taxes 15,073 13,216 15,471
15 Miscellaneous receipts (4) 22,831 16,556 19,517
OUTLAYS
16 All types 892,947 894,905 948,750
17 National defense 143,476 147,651 153,154
18 International affairs 7,250 11,902 6,522
19 General science, space, and
technology 9,601 10,389 10,073
20 Energy -893 -595 -244
21 Natural resources and environment 10,814 12,907 11,059
22 Agriculture 11,164 20,977 10,832
23 Commerce and housing credit -2,497 4,408 -1,539
24 Transportation 21,054 25,841 23,810
25 Community and regional
development 5,050 5,962 5,265
26 Education, training, employment,
and social services 31,234 29,263 35,698
27 Health 75,871 81,413 87,427
28 Social security and Medicare 306,966 307,473 328,072
29 Income security 133,915 113,212 146,913
30 Veterans benefits and services 23,174 22,615 23,171
31 Administration of justice 13,981 14,635 14,694
32 General government 6,198 6,461 8,887
33 Net interest (5) 115,545 104,685 107,824
34 Undistributed offsetting
receipts (6) -19,346 -24,070 -22,865
Calendar year
2001
Source or type July Aug. Sept.
RECEIPTS
1 All sources 127,842 122,559 158,495
2 Individual income taxes, net 60,466 52,020 81,277
3 Withheld 65,601 66,415 49,679
4 Nonwithheld 5,029 6,435 45,676
5 Refunds 10,165 20,831 14,078
Corporation income taxes
6 Gross receipts 5,036 4,618 9,533
7 Refunds 2,328 1,475 2,057
8 Social insurance taxes and
contributions, net 52,154 53,692 56,147
9 Employment taxes and
contributions (2) 49,672 49,974 55,433
10 Unemployment insurance 2,128 3,294 349
11 Other net receipts (3) 355 424 365
12 Excise taxes 5,733 5,438 6,443
13 Customs deposits 1,755 1,926 1,563
14 Estate and gift taxes 2,099 2,196 1,761
15 Miscellaneous receipts (4) 2,926 4,142 3,828
OUTLAYS
16 All types 125,022 202,549 123,105
17 National defense 22,153 30,393 23,987
18 International affairs 413 260 1,350
19 General science, space, and
technology 1,642 2,014 1,668
20 Energy -117 -68 697
21 Natural resources and environment 1,757 2,087 2,521
22 Agriculture 240 6,226 -1,149
23 Commerce and housing credit -13,479 4,287 15,844
24 Transportation 4,327 5,433 7,358
25 Community and regional
development 1,598 1,450 1,347
26 Education, training, employment,
and social services 4,291 1,751 4,927
27 Health 14,094 15,419 14,088
28 Social security and Medicare 52,621 86,197 26,044
29 Income security 17,282 24,025 15,738
30 Veterans benefits and services 2,150 6,199 2,123
31 Administration of justice 2,202 2,647 2,428
32 General government 625 261 1,733
33 Net interest (5) 17,287 17,426 9,113
34 Undistributed offsetting
receipts (6) -3,765 -3,459 -6,711
(1.) Functional details do not sum to total outlays for calendar
year data because revisions to monthly totals have not been
distributed among functions. Fiscal year total for receipts and
outlays do not correspond to calendar year data because revisions
from the Budget have not been fully distributed across months.
(2.) Old-age, disability, and hospital insurance, and railroad
retirement accounts.
(3.) Federal employee retirement contributions and civil
service retirement and disability fund.
(4.) Deposits of earnings by Federal Reserve Banks and
other miscellaneous receipts.
(5.) Includes interest received by trust funds.
(6.) Rents and royalties for the outer continental shelf, U.S.
government contributions for employee retirement, and certain
asset sales.
Source. Fiscal year totals: U.S. Office of Management and Budget,
Budget of the U.S. Government, Fiscal year 2002; monthly and half-year
totals: U.S. Department of the Treasury, Monthly Treasury, Statement
of Receipts and Outlays of the U.S. Government.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
1999 2000
Item Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,685.2 5,805.0 5,801.5
2 Public debt securities 5,656.3 5,776.1 5,773.4
3 Held by public 3,667.2 3,715.5 3,688.0
4 Held by agencies 1,989.1 2,060.6 2,085.4
5 Agency securities 28.9 28.9 28.1
6 Held by public 28.3 28.3 27.8
7 Held by agencies .6 .6 .4
8 Debt subject to
statutory limit 5,567.7 5,686.9 5,686.5
9 Public debt securities 5,567.6 5,686.7 5,686.3
10 Other debt (1) .1 .1 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2000
Item June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 5,714.2 5,701.9 5,689.6
2 Public debt securities 5,685.9 5,674.2 5,662.2
3 Held by public 3,495.7 3,438.5 3,413.5
4 Held by agencies 2,190.2 2,235.7 2,248.7
5 Agency securities 28.3 27.7 27.4
6 Held by public 28.2 27.6 27.3
7 Held by agencies .1 .1 .1
8 Debt subject to
statutory limit 5,600.6 5,591.6 5,580.5
9 Public debt securities 5,600.5 5,591.4 5,580.2
10 Other debt (1) .2 .2 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
2001
Item Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 5,800.6 5,753.9 5,834.5
2 Public debt securities 5,773.7 5,726.8 5,807.5
3 Held by public 3,434.4 3,274.2 3,338.7
4 Held by agencies 2,339.4 2,452.6 2,468.8
5 Agency securities 26.8 27.1 27.0
6 Held by public 26.8 27.1 27.0
7 Held by agencies .1 .0 .0
8 Debt subject to
statutory limit 5,692.5 5,645.0 5,732.6
9 Public debt securities 5,692.3 5,644.8 5,807.5
10 Other debt (1) .2 .2 .2
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0 (r)
(1.) Consists of guaranteed debt of U.S. Treasury and other
federal agencies, specified participation certificates,
notes to international lending organizations, and District of
Columbia stadium bonds.
SOURCE: U.S. Department of the Treasury, Monthly Statement of
the Public Debt of the United States and Monthly Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1997 1998 1999 2000
1 Total gross public debt 5,502.4 5,614.2 5,776.1 5,662.2
By type
2 Interest-bearing 5,494.9 5,605.4 5,766.1 5,618.1
3 Marketable 3,456.8 3,355.5 3,281.0 2,966.9
4 Bills 715.4 691.0 737.1 646.9
5 Notes 2,106.1 1,960.7 1,784.5 1,557.3
6 Bonds 587.3 621.2 643.7 626.5
7 Inflation-indexed
notes and
bonds (1) 33.0 67.6 100.7 121.2
8 Nonmarketable (2) 2,038.1 2,249.9 2,485.1 2,651.2
9 State and local
government series 124.1 165.3 165.7 151.0
10 Foreign issues (3) 36.2 34.3 31.3 27.2
11 Government 36.2 34.3 31.3 27.2
12 Public .0 .0 .0 .0
13 Savings bonds and
notes 181.2 180.3 179.4 176.9
14 Government account
series (4) 1,666.7 1,840.0 2,078.7 2,266.1
15 Non-interest-bearing 7.5 8.8 10.0 44.2
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 1,657.1 1,828.1 2,064.2 2,270.2
17 Federal Reserve
Banks (6) 430.7 452.1 478.0 511.7
18 Private investors 3,414.6 3,334.0 3,233.9 2,880.4
19 Depository
institutions 300.3 237.3 246.5 197.8
20 Mutual funds 321.5 343.2 348.6 339.0
21 Insurance companies 176.6 144.5 125.3 116.6
22 State and local
treasuries (7) 239.3 269.3 266.8 246.2
Individuals
23 Savings bonds 186.5 186.6 186.4 184.8
24 Pension funds 360.5 375.3 378.9 387.7
25 Private 143.5 157.6 167.7 181.6
26 State and Local 216.9 217.7 211.2 206.1
27 Foreign and
international (8) 1,241.6 1,278.7 1,268.7 1,201.4
28 Other miscellaneous
investors (7,9) 589.5 499.0 410.8 218.3
2000 2001
Type and holder Q4 Q1 Q2 Q3
1 Total gross public debt 5,662.2 5,773.7 5,726.8 5,807.5
By type
2 Interest-bearing 5,618.1 5,752.0 5,682.8 5,763.6
3 Marketable 2,966.9 2,981.9 2,822.3 2,897.3
4 Bills 646.9 712.0 620.1 734.9
5 Notes 1,557.3 1,499.0 1,441.0 1,399.6
6 Bonds 626.5 627.9 616.9 612.9
7 Inflation-indexed
notes and
bonds (1) 121.2 128.0 129.3 134.9
8 Nonmarketable (2) 2,651.2 2,770.0 2,860.5 2,866.4
9 State and local
government series 151.0 152.9 153.3 146.4
10 Foreign issues (3) 27.2 24.7 24.0 18.3
11 Government 27.2 24.7 24.0 18.3
12 Public .0 .0 .0 .0
13 Savings bonds and
notes 176.9 177.4 178.4 179.6
14 Government account
series (4) 2,266.1 2,360.3 2,474.7 2,492.1
15 Non-interest-bearing 44.2 46.5 44.0 43.8
By holder (5)
16 U.S. Treasury and other
federal agencies and
trust funds 2,270.2 2,357.0 2,469.1 n.a.
17 Federal Reserve
Banks (6) 511.7 523.9 535.1 534.1
18 Private investors 2,880.4 2,892.9 2,722.6 n.a.
19 Depository
institutions 197.8 187.3 192.1 n.a.
20 Mutual funds 339.0 348.8 352.3 n.a.
21 Insurance companies 116.6 101.9 92.9 n.a.
22 State and local
treasuries (7) 246.2 224.0 216.5 n.a.
Individuals
23 Savings bonds 184.8 184.8 186.0 n.a.
24 Pension funds 387.7 326.5 320.2 n.a.
25 Private 181.6 131.2 129.2 n.a.
26 State and Local 206.1 195.3 191.0 n.a.
27 Foreign and
international (8) 1,201.4 1,196.1 1,167.1 n.a.
28 Other miscellaneous
investors (7,9) 218.3 250.9 n.a. n.a.
(1.) The U.S. Treasury first issued inflation-indexed securities
during the first quarter of 1997.
(2.) Includes (not shown separately) securities issued to the
Rural Electrification Administration, depository bonds,
retirement plan bonds, and individual retirement bonds.
(3.) Nonmarketable series denominated in dollars, and series
denominated in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal
agencies and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies
and trust funds are actual holdings; data for other
groups are Treasury estimates.
(6.) U.S. Treasury securities bought outright by Federal
Reserve Banks, see Bulletin table 1.18.
(7.) In March 1996, in a redefinition of series, fully defeased
debt backed by nonmarketable federal securities was removed from
"Other miscellaneous investors" and added to "State
and local treasuries." The data shown here have been revised
accordingly.
(8.) Includes nonmarketable foreign series Treasury securities
and Treasury deposit funds. Excludes Treasury securities held under
repurchase agreements in custody accounts at the Federal Reserve
Bank of New York.
(9.) Includes individuals, government-sponsored enterprises,
brokers and dealers, bank personal trusts and estates, corporate
and noncorporate businesses, and other investors.
SOURCES. Data by type of security, U.S. Treasury Department,
Monthly Statement of the Public Debt of the United States;
data by holder, Federal Reserve Board of Governors, Flow
of Funds Accounts of the United States and U.S. Treasury
Department, Treasury Bulletin, unless otherwise noted.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions (1)
Millions of dollars, daily averages
2001,
2001 week
ending
Item June July Aug. Aug. 1
By type of security
1 U.S. Treasury bills 26,141 27,315 35,361 26,988
Treasury coupon
securities by
maturity
2 Three years or less 118,453 92,942 90,953 83,376
3 More than three but
less than or
equal to six
years 83,923 65,463 69,717 68,448
4 More than six but
less than or
equal to eleven
years 58,180 53,709 65,251 62,093
5 More than eleven 17,804 16,682 16,847 19,726
6 Inflation-
indexed (2) 1,384 2,433 1,491 1,966
Federal agency and
government-
sponsored
enterprises
7 Discount notes 53,216 55,388 57,141 53,819
Coupon securities by
maturity
8 Three years or
less 12,880 11,194 11,514 10,196
9 More than three
years but less
than or equal to
six years 8,360 7,594 8,769 6,889
10 More than six
years but less
than or equal to
eleven years 7,640 6,802 6,502 7,078
11 More than eleven
years 736 966 1,332 976
12 Mortgage-backed 96,113 95,997 106,708 73,406
Corporate securities
13 One year or less 85,207 75,223 79,388 69,835
14 More than one year 17,686 16,050 17,259 21,063
By type of
counterparty
With interdealer
broker
15 U.S. Treasury 130,715 120,946 133,598 118,222
16 Federal agency and
government-
sponsored
enterprises 14,142 10,018 11,532 9,918
17 Mortgage-backed 30,517 28,194 32,160 22,692
18 Corporate 2,036 1,012 813 1,168
With other
19 U.S. Treasury 129,696 137,597 146,023 144,374
20 Federal agency and
government-
sponsored
enterprises 70,510 71,926 73,725 69,041
21 Mortgage-backed 65,596 67,804 74,548 50,714
22 Corporate 100,856 90,261 95,833 89,731
2001, week ending
Item Aug. 8 Aug. 15 Aug. 22 Aug. 29
By type of security
1 U.S. Treasury bills 30,840 35,563 35,368 37,919
Treasury coupon
securities by
maturity
2 Three years or less 77,381 94,245 87,669 98,442
3 More than three but
less than or
equal to six
years 63,452 77,693 71,434 58,773
4 More than six but
less than or
equal to eleven
years 61,834 73,293 68,205 55,096
5 More than eleven 14,668 18,649 16,301 16,474
6 Inflation-
indexed (2) 1,286 1,532 1,511 1,335
Federal agency and
government-
sponsored
enterprises
7 Discount notes 53,032 58,298 58,171 56,277
Coupon securities by
maturity
8 Three years or
less 9,568 12,738 11,509 12,685
9 More than three
years but less
than or equal to
six years 6,685 10,188 8,329 9,356
10 More than six
years but less
than or equal to
eleven years 5,398 6,980 8,110 4,893
11 More than eleven
years 920 1,726 1,798 1,038
12 Mortgage-backed 137,390 144,267 72,122 84,064
Corporate securities
13 One year or less 72,625 75,453 84,613 82,019
14 More than one year 18,062 21,347 17,662 13,607
By type of
counterparty
With interdealer
broker
15 U.S. Treasury 123,378 145,693 133,240 126,293
16 Federal agency and
government-
sponsored
enterprises 10,250 11,988 13,356 10,031
17 Mortgage-backed 39,533 41,535 24,581 25,495
18 Corporate 891 1,119 747 524
With other
19 U.S. Treasury 126,083 155,282 147,248 141,747
20 Federal agency and
government-
sponsored
enterprises 65,352 77,942 74,562 74,217
21 Mortgage-backed 97,858 102,732 47,541 58,569
22 Corporate 89,796 95,681 101,527 95,102
2001, week ending
Item Sept. 5 Sept. 12 Sept. 19 Sept. 26
By type of security
1 U.S. Treasury bills 43,936 26,364 25,630 32,052
Treasury coupon
securities by
maturity
2 Three years or less 109,931 86,245 68,074 121,901
3 More than three but
less than or
equal to six
years 89,143 72,391 59,108 89,673
4 More than six but
less than or
equal to eleven
years 73,266 60,446 49,789 65,146
5 More than eleven 18,649 14,560 14,955 23,304
6 Inflation-
indexed (2) 2,004 882 1,690 2,305
Federal agency and
government-
sponsored
enterprises
7 Discount notes 65,764 61,515 91,437 63,187
Coupon securities by
maturity
8 Three years or
less 11,068 10,034 10,471 14,126
9 More than three
years but less
than or equal to
six years 11,004 6,850 6,256 12,010
10 More than six
years but less
than or equal to
eleven years 7,784 10,802 5,618 16,876
11 More than eleven
years 1,120 851 511 1,486
12 Mortgage-backed 95,827 127,544 146,954 127,386
Corporate securities
13 One year or less 91,264 103,540 100,158 89,783
14 More than one year 11,256 17,494 6,834 20,774
By type of
counterparty
With interdealer
broker
15 U.S. Treasury 155,757 126,807 86,088 146,105
16 Federal agency and
government-
sponsored
enterprises 13,601 11,812 7,763 14,836
17 Mortgage-backed 30,632 38,252 22,682 39,335
18 Corporate 568 792 369 1,399
With other
19 U.S. Treasury 181,172 134,081 133,157 188,275
20 Federal agency and
government-
sponsored
enterprises 83,140 78,239 106,530 92,850
21 Mortgage-backed 65,195 89,292 124,272 88,051
22 Corporate 101,952 120,242 106,623 109,158
(1.) The figures represent purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Reserve Bank of New York. Outright transactions include all U.S.
government, federal agency, government-sponsored enterprise,
mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as all U.S. government securities traded on
a when-issued basis between the announcement and issue date. Data do
not include transactions under repurchase and reverse repurchase
(resale) agreements. Averages are based on the number of trading days
in the week.
(2.) Outright Treasury inflation-indexed securities (TIIS) transactions
are reported at principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
for inflation) times the price times the index ratio.
NOTE. Major changes in the report form filed by primary dealers induced
a break in the dealer data series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http:www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2001
2001 week
ending
Item June July Aug. Aug. 1
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 3,445 7,014 22,281 12,864
Treasury coupon
securities by
maturity
2 Three years or
less -16,969 -16,714 -17,171 -17,577
3 More than three
years but less
than or equal
to six years -15,221 -15,174 -11,233 -12,125
4 More than six but
less than or
equal to eleven
years -16,118 -18,610 -14,383 -20,184
5 More than eleven 10,239 10,090 8,486 8,984
6 Inflation-indexed 3,491 2,311 3,202 2,750
Federal agency and
government-
sponsored
enterprises
7 Discount notes 55,075 56,172 56,726 60,799
Coupon
securities,
by maturity
8 Three years or
less 23,625 23,494 18,353 20,347
9 More than three
years but
less than
or equal to
six years -3,096 -1,445 -1,895 -1,648
10 More than six
but less than
or equal to
eleven years 2,472 3,962 3,486 4,791
11 More than
eleven 4,190 3,910 3,686 3,860
12 Mortgage-backed 17,928 12,840 12,198 15,239
Corporate
securities
13 One year or less 16,541 15,038 15,756 15,621
14 More than one
year 23,106 25,410 29,747 25,753
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 510,993 532,092 555,619 550,444
16 Term 711,949 751,848 688,830 783,387
Federal agency and
government-
sponsored
enterprises
17 Overnight and
continuing 110,263 113,178 116,534 121,687
18 Term 159,641 163,334 177,889 165,677
Mortgage-backed
securities
19 Overnight and
continuing 20,813 23,186 24,844 24,706
20 Term 197,977 199,969 220,176 205,577
Corporate
securities
21 Overnight and
continuing 34,229 34,288 33,956 33,968
22 Term 14,179 13,672 13,216 13,935
MEMO: Reverse
repurchase
agreements
23 Overnight and
continuing 365,246 347,687 366,386 369,543
24 Term 1,031,773 1,004,418 976,454 1,032,948
Securities out
U.S. Treasury
25 Overnight and
continuing 482,344 521,688 565,431 539,549
26 Term 665,178 688,710 620,092 719,926
Federal agency and
government-
sponsored
enterprises
27 Overnight and
continuing 192,185 215,274 213,057 224,325
28 Term 137,932 123,248 144,850 125,972
Mortgage-backed
securities
29 Overnight and
continuing 222,096 254,481 277,441 262,710
30 Term 117,555 101,794 110,410 100,950
Corporate
securities
31 Overnight and
continuing 77,335 81,804 82,922 81,415
32 Term 15,523 11,043 11,698 11,586
MEMO: Repurchase
agreements
33 Overnight and
continuing 890,043 940,177 1,006,856 971,493
34 Term 934,264 890,275 865,731 937,019
2001, week ending
Item Aug. 8 Aug. 15 Aug. 22 Aug. 29
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 22,024 24,180 18,543 22,157
Treasury coupon
securities by
maturity
2 Three years or
less -20,199 -15,892 -15,962 -16,808
3 More than three
years but less
than or equal
to six years -10,486 -11,933 -11,105 -10,926
4 More than six but
less than or
equal to eleven
years -17,077 -16,033 -13,623 -10,350
5 More than eleven 8,063 7,845 9,466 8,444
6 Inflation-indexed 2,806 3,298 3,412 3,339
Federal agency and
government-
sponsored
enterprises
7 Discount notes 56,493 58,231 53,986 56,724
Coupon
securities,
by maturity
8 Three years or
less 18,422 19,154 17,160 19,174
9 More than three
years but
less than
or equal to
six years -3,007 -1,822 -2,845 -196
10 More than six
but less than
or equal to
eleven years 4,984 4,204 2,320 2,213
11 More than
eleven 3,871 4,003 3,309 3,618
12 Mortgage-backed 9,521 15,715 11,180 12,504
Corporate
securities
13 One year or less 14,440 15,675 15,685 16,516
14 More than one
year 29,678 30,291 26,939 33,490
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 529,020 565,181 576,481 553,987
16 Term 813,503 617,222 646,639 673,914
Federal agency and
government-
sponsored
enterprises
17 Overnight and
continuing 113,903 119,237 120,188 112,134
18 Term 176,572 175,140 180,507 181,091
Mortgage-backed
securities
19 Overnight and
continuing 22,829 20,670 26,448 29,473
20 Term 219,673 224,292 225,582 215,891
Corporate
securities
21 Overnight and
continuing 33,269 33,602 33,655 34,284
22 Term 13,880 12,921 13,149 12,720
MEMO: Reverse
repurchase
agreements
23 Overnight and
continuing 338,425 370,479 385,361 371,606
24 Term 1,094,219 906,175 948,932 960,508
Securities out
U.S. Treasury
25 Overnight and
continuing 532,719 574,611 584,733 573,355
26 Term 744,378 543,388 584,863 603,689
Federal agency and
government-
sponsored
enterprises
27 Overnight and
continuing 207,367 219,508 206,544 214,198
28 Term 142,663 145,730 150,516 146,309
Mortgage-backed
securities
29 Overnight and
continuing 265,913 282,028 299,660 272,283
30 Term 107,508 107,100 116,106 112,729
Corporate
securities
31 Overnight and
continuing 78,459 85,228 82,574 84,601
32 Term 11,990 11,978 11,913 11,465
MEMO: Repurchase
agreements
33 Overnight and
continuing 955,579 1,024,332 1,036,472 1,018,865
34 Term 985,221 786,273 841,701 852,527
2001, week ending
Item Sept. 5 Sept. 12 Sept. 19
NET OUTRIGHT POSITIONS (2)
By type of security
1 U.S. Treasury bills 34,763 33,144 32,117
Treasury coupon
securities by
maturity
2 Three years or
less -16,343 -16,699 -11,810
3 More than three
years but less
than or equal
to six years -12,472 -10,728 -8,352
4 More than six but
less than or
equal to eleven
years -13,047 -16,749 -12,237
5 More than eleven 8,674 7,952 11,599
6 Inflation-indexed 3,270 3,821 3,719
Federal agency and
government-
sponsored
enterprises
7 Discount notes 59,834 62,102 57,904
Coupon
securities,
by maturity
8 Three years or
less 15,617 14,377 12,274
9 More than three
years but
less than
or equal to
six years -1,009 -2,803 -1,383
10 More than six
but less than
or equal to
eleven years 3,613 2,608 1,509
11 More than
eleven 3,406 2,749 3,072
12 Mortgage-backed 10,235 6,258 9,386
Corporate
securities
13 One year or less 18,295 24,806 13,109
14 More than one
year 26,807 30,036 30,707
FINANCING (3)
Securities in
U.S. Treasury
15 Overnight and
continuing 550,527 462,217 562,569
16 Term 655,695 681,161 658,858
Federal agency and
government-
sponsored
enterprises
17 Overnight and
continuing 116,321 94,158 117,976
18 Term 177,852 175,643 166,442
Mortgage-backed
securities
19 Overnight and
continuing 24,755 17,632 22,523
20 Term 210,910 208,702 208,175
Corporate
securities
21 Overnight and
continuing 37,503 31,939 34,091
22 Term 13,534 12,320 12,086
MEMO: Reverse
repurchase
agreements
23 Overnight and
continuing 363,656 255,462 352,771
24 Term 934,150 951,686 930,595
Securities out
U.S. Treasury
25 Overnight and
continuing 565,442 497,109 558,008
26 Term 584,351 628,116 583,539
Federal agency and
government-
sponsored
enterprises
27 Overnight and
continuing 223,566 146,391 217,450
28 Term 133,931 146,525 118,311
Mortgage-backed
securities
29 Overnight and
continuing 249,380 216,023 281,213
30 Term 108,835 116,875 102,984
Corporate
securities
31 Overnight and
continuing 86,574 63,717 81,965
32 Term 9,817 10,255 6,470
MEMO: Repurchase
agreements
33 Overnight and
continuing 997,155 812,032 1,008 659
34 Term 820,287 884,532 796,376
(1.) Data for positions and financing are obtained from reports
submitted to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of primary
dealers. Weekly figures are close-of-business Wednesday data.
Positions for calendar days of the report week are assumed to be
constant. Monthly averages are based on the number of calendar days
in the month.
(2.) Net outright positions include all U.S. government, federal
agency, government-sponsored enterprise, mortgage-backed, and
corporate securities scheduled for immediate and forward delivery,
as well as U.S. government securities traded on a when-issued basis
between the announcement and issue date.
(3.) Figures cover financing U.S. government, federal agency,
government-sponsored enterprise, mortgage-backed, and corporate
securities. Financing transactions for Treasury inflation-indexed
securities (TIIS) are reported in actual funds paid or received,
except for pledged securities. TIIS that are issued as pledged
securities are reported at par value, which is the value of the
security at original issuance (unadjusted for inflation).
NOTE. Major changes in the report form filed by primary dealers
included a break in many series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York website (http://www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1997 1998 1999
1 Federal and federally
sponsored agencies 1,022,609 1,296,477 1,616,492
2 Federal agencies 27,792 26,502 26,376
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) 552 n.a. n.a.
5 Federal Housing
Administration (4) 102 205 126
6 Government National
Mortgage Association
certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley
Authority 27,786 26,496 26,370
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies (7) 994,817 1,269,975 1,590,116
11 Federal Home Loan Banks 313,919 382,131 529,005
12 Federal Home Loan
Mortgage Corporation 169,200 287,396 360,711
13 Federal National Mortgage
Association 369,774 460,291 547,619
14 Farm Credit Banks (8) 63,517 63,488 68,883
15 Student Loan Marketing 37,717 35,399 41,988
Association (9)
16 Financing
Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank
debt (13) 49,090 44,129 42,152
Lending to federal and
federally sponsored
agencies
20 Export-Import Bank (3) 552 n.a. n.a.
21 Postal Service (6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 13,530 9,500 6,665
26 Rural Electrification
Administration 14,898 14,091 14,085
27 Other 20,110 20,538 21,402
2001
Agency 2000 Mar. Apr.
1 Federal and federally
sponsored agencies 1,851,632 1,919,761 1,946,961 (r)
2 Federal agencies 25,666 25,063 25,024
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) 255 307 315
6 Government National
Mortgage Association
certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley
Authority 25,660 25,057 25,018
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies (7) 1,825,966 1,894,698 1,921,937
11 Federal Home Loan Banks 594,404 602,824 595,562
12 Federal Home Loan
Mortgage Corporation 426,899 461,338 478,447
13 Federal National Mortgage
Association 642,700 666,600 682,500
14 Farm Credit Banks (8) 74,181 74,174 74,456
15 Student Loan Marketing 45,375 47,322 48,468
Association (9)
16 Financing
Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank
debt (13) 40,575 39,341 39,065
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
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 5,275 5,155 5,155
26 Rural Electrification
Administration 13,126 13,371 13,371
27 Other 22,174 20,815 20,539
2001
Agency May June July
1 Federal and federally
sponsored agencies 1,967,515 (r) 1,986,146 2,009,746
2 Federal agencies 25,070 25,495 25,325
3 Defense Department (1) 6 6 6
4 Export-Import Bank (2,3) n.a. n.a. n.a.
5 Federal Housing
Administration (4) 201 204 210
6 Government National
Mortgage Association
certificates of
participation (5) n.a. n.a. n.a.
7 Postal Service (6) n.a. n.a. n.a.
8 Tennessee Valley
Authority 25,064 25,489 25,319
9 United States Railway
Association (6) n.a. n.a. n.a.
10 Federally sponsored
agencies (7) 1,942,445 1,960,651 1,984,421
11 Federal Home Loan Banks 592,406 595,148 601,490
12 Federal Home Loan
Mortgage Corporation 490,442 496,711 508,944
13 Federal National Mortgage
Association 693,600 702,300 706,800
14 Farm Credit Banks (8) 75,363 76,330 76,307
15 Student Loan Marketing 48,255 47,687 48,427
Association (9)
16 Financing
Corporation (10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance
Corporation (11) 1,261 1,261 1,261
18 Resolution Funding
Corporation (12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank
debt (13) 42,837 38,235 37,510
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
Association (6) n.a. n.a. n.a.
Other lending (14)
25 Farmers Home Administration 5,540 5,155 5,155
26 Rural Electrification
Administration 12,989 13,381 13,483
27 Other 24,308 19,699 18,872
(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 Tax-Exempt State and Local Governments
Millions of dollars
2001
Type of issue or issuer,
or use 1998 1999 2001 Feb.
1 All issues, new and
refunding (1) 262,342 215,427 180,403 19,829
By type of issue
2 General obligation 87,015 73,308 64,475 9,389
3 Revenue 175,327 142,120 115,928 10,441
By type of issuer
4 State 23,506 16,376 19,944 3,268
5 Special district or
statutory authority (2) 178,421 152,418 111,695 11,011
6 Municipality, county, or
township 60,173 46,634 39,273 5,550
7 Issues for new capital 160,568 161,065 154,257 13,384
By use of proceeds
8 Education 36,904 36,563 38,665 3,102
9 Transportation 19,926 17,394 19,730 2,411
10 Utilities and conservation 21,037 15,098 11,917 1,335
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 8,594 9,099 7,122 281
13 Other purposes 42,450 47,896 47,309 4,742
2001
Type of issue or issuer,
or use Mar. Apr. May June
1 All issues, new and
refunding (1) 24,495 16,985 26,248 29,298
By type of issue
2 General obligation 7,668 6,890 8,385 9,691
3 Revenue 16,827 10,094 17,863 19,606
By type of issuer
4 State 1,893 1,900 3,123 2,905
5 Special district or
statutory authority (2) 17,280 113,344 17,281 20,672
6 Municipality, county, or
township 5,323 3,740 5,845 5,721
7 Issues for new capital 15,387 12,264 20,002 20,044
By use of proceeds
8 Education 5,343 3,731 5,714 6,460
9 Transportation 1,219 1,381 2,522 1,258
10 Utilities and conservation 1,677 1,447 2,969 3,191
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 396 436 422 443
13 Other purposes 4,368 3,010 4,736 5,047
2001
Type of issue or issuer,
or use July Aug. Sept.
1 All issues, new and
refunding (1) 19,232 21,152 13,159
By type of issue
2 General obligation 5,836 8,796 3,926
3 Revenue 13,396 12,356 9,233
By type of issuer
4 State 2,029 2,713 1,504
5 Special district or
statutory authority (2) 11,784 12,351 9,137
6 Municipality, county, or
township 5,419 6,088 2,518
7 Issues for new capital 15,015 13,550 10,110
By use of proceeds
8 Education 3,379 2,950 3,017
9 Transportation 3,160 1,669 1,195
10 Utilities and conservation 1,055 1,228 1,025
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 508 708 663
13 Other purposes 3,803 4,524 1,732
(1.) Par amounts of long-term issues based on date of sale.
(2.) Includes school districts.
SOURCE. Securities Data Company beginning January 1990; Investment
Dealer's Digest before then.
1.46 NEW SECURITY ISSUES U.S. Corporations
Millions of dollars
2001
Type of issue, offering,
or issuer 1998 1999 2000 Jan.
1 All issues (1) 1,128,491 1,072,866 942,198 125,894
2 Bonds (2) 1,001,736 941,298 807,281 118,372
By type of offering
3 Sold in the United
States 923,771 818,683 684,484 115,583
4 Sold abroad 77,965 122,615 122,798 2,789
MEMO
5 Private placements,
domestic n.a. n.a. n.a. 26
By industry group
6 Nonfinancial 307,711 293,963 242,452 44,443
7 Financial 694,025 647,335 564,829 73,928
8 Stocks (3) 182,055 223,968 283,717 7,522
By type of offering
9 Public 126,755 131,568 134,917 7,522
10 Private placement (4) 55,300 92,400 148,800 n.a.
By industry group
11 Nonfinancial 74,113 110,284 118,369 4,356
12 Financial 52,642 21,284 16,548 3,166
2001
Type of issue, offering,
or issuer Feb. Mar. Apr. May
1 All issues (1) 96,206 139,267 92,778 164,563
2 Bonds (2) 88,806 127,956 86,274 154,623
By type of offering
3 Sold in the United
States 86,146 118,779 81,156 146,164
4 Sold abroad 2,660 9,177 5,117 8,459
MEMO
5 Private placements,
domestic 1,897 652 0 2,563
By industry group
6 Nonfinancial 34,604 44,385 33,549 67,142
7 Financial 54,201 83,571 52,725 87,481
8 Stocks (3) 7,400 11,311 6,504 9,940
By type of offering
9 Public 7,400 11,311 6,504 9,940
10 Private placement (4) n.a. n.a. n.a. n.a.
By industry group
11 Nonfinancial 4,463 7,718 4,822 6,809
12 Financial 2,937 3,593 1,682 3,131
2001
Type of issue, offering,
or issuer June July Aug.
1 All issues (1) 122,773 93,451 97,881
2 Bonds (2) 102,476 84,872 89,946
By type of offering
3 Sold in the United
States 96,382 79,508 86,715
4 Sold abroad 6,094 5,364 3,231
MEMO
5 Private placements,
domestic 3,146 12 48
By industry group
6 Nonfinancial 34,996 18,904 28,546
7 Financial 67,480 65,968 61,400
8 Stocks (3) 20,297 8,579 7,935
By type of offering
9 Public 20,297 8,579 7,935
10 Private placement (4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 16,630 4,237 5,468
12 Financial 3,667 4,342 2,467
(1.) Figures represent gross proceeds of issues maturing in more than
one year; they are the principal amount or number of units calculated
by multiplying by the offering price. Figures exclude secondary
offerings, employee stock plans, investment companies other than
closed-end, intracorporate transactions, and Yankee bonds. Stock data
include ownership securities issued by limited partnerships.
(2.) Monthly data include 144(a) offerings.
(3.) Monthly data cover only public offerings.
(4.) Data are not available.
SOURCE. Securities Data Company and the Board of Governors of the
Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets (1)
Millions of dollars
2001
Item 1999 2000 Feb. Mar.
1 Sales of own
shares (2) 1,791,894 2,279,315 148,362 162,548
2 Redemptions of own
shares 1,621,987 2,057,277 141,663 175,633
3 Net sales (3) 169,906 222,038 6,699 -13,085
4 Assets (4) 5,233,191 5,123,747 4,879,229 4,594,182
5 Cash (5) 219,189 277,386 274,077 241,518
6 Other 5,014,002 4,846,361 4,605,152 4,352,664
2001
Item Apr. May June
1 Sales of own
shares (2) 152,327 158,361 139,270
2 Redemptions of own
shares 130,454 132,574 125,097
3 Net sales (3) 21,873 25,787 14,173
4 Assets (4) 4,910,568 4,956,982 4,888,874
5 Cash (5) 247,169 237,487 240,199
6 Other 4,663,399 4,719,495 4,648,675
2001
Item July Aug. (r) Sept.
1 Sales of own
shares (2) 138,428 142,577 105,275
2 Redemptions of own
shares 129,021 131,408 128,409
3 Net sales (3) 9,407 11,169 -23,134
4 Assets (4) 4,825,144 4,635,477 4,253,877
5 Cash (5) 240,392 240,329 222,826
6 Other 4,584,752 4,395,148 4,031,051
(1.) Data include stock, hybrid, and bond mutual funds and exclude
money market mutual funds.
(2.) Excludes reinvestment of net income dividends and capital gains
distributions and share issue of conversions from one fund to another
in the same group.
(3.) Excludes sales and redemptions resulting from transfers of shares
into or out of money market mutual funds within the same fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term debt
securities.
SOURCE. Investment Company Institute. Data based on reports of
membership, which comprises substantially all open-end investment
companies registered with the Securities and Exchange Commission.
Data reflect underwritings of newly formed companies after their
initial offering of securities.
1.48 CORPORATE PROFITS AND THEIR DISTRIBUTION
Billions of dollars; quarterly data at seasonally adjusted annual rates
1999
Account 1998 1999 2000 Q3
1 Profits with inventory valuation and
capital consumption adjustment 777.4 825.2 876.4 800.2
2 Profits before taxes 721.1 776.3 845.4 765.8
3 Profits-tax liability 238.8 253.0 271.5 250.7
4 Profits after tax 482.3 523.3 573.9 515.1
5 Dividends 348.7 343.5 379.6 342.2
6 Undistributed profits 133.6 179.8 194.3 172.9
7 Inventory valuation 18.3 -2.9 -12.4 -17.7
8 Capital consumption adjustment 38.0 51.7 43.4 52.1
1999 2000
Account Q4 Q1 Q2 Q3
1 Profits with inventory valuation and
capital consumption adjustment 857.6 870.3 892.8 895.0
2 Profits before taxes 825.0 844.9 862.0 858.3
3 Profits-tax liability 267.3 277.0 280.4 274.9
4 Profits after tax 557.7 567.8 581.6 583.4
5 Dividends 349.6 361.5 373.7 386.2
6 Undistributed profits 208.1 206.3 207.9 197.2
7 Inventory valuation -21.0 -23.8 -14.8 -3.6
8 Capital consumption adjustment 53.6 49.2 45.5 40.4
2000 2001
Account Q4 Q1 Q2
1 Profits with inventory valuation and
capital consumption adjustment 847.6 789.8 759.8
2 Profits before taxes 816.5 755.7 738.3
3 Profits-tax liability 253.5 236.8 228.0
4 Profits after tax 563.0 518.9 510.3
5 Dividends 397.0 405.2 412.3
6 Undistributed profits 165.9 113.7 98.0
7 Inventory valuation -7.3 -1.9 -8.8
8 Capital consumption adjustment 38.4 36.0 30.3
SOURCE. U.S. Department of Commerce, Survey of Current Business.
1.51 DOMESTIC FINANCE COMPANIES Assets and Liabilities (1)
Billions of dollars, end of period; not seasonally adjusted
2000
Account 1998 1999 2000 Q1
ASSETS
1 Accounts receivable, gross (2) 711.7 811.5 915.6 848.7
2 Consumer 261.8 279.8 296.1 285.4
3 Business 347.5 405.2 471.1 434.6
4 Real estate 102.3 126.5 148.3 128.8
5 LESS: Reserves for unearned
income 56.3 53.5 60.0 54.0
6 Reserves for losses 13.8 13.5 15.1 14.0
7 Accounts receivable, net 641.6 744.6 840.5 780.7
8 All other 337.9 406.3 461.8 412.7
9 Total assets 979.5 1,150.9 1,302.4 1,193.4
LIABILITIES AND CAPITAL
10 Bank loans 26.3 35.1 35.6 28.5
11 Commercial paper 231.5 227.9 235.2 230.2
Debt
12 Owed to parent 61.8 123.8 146.5 145.1
13 Not elsewhere classified 339.7 397.0 463.8 412.0
14 All other liabilities 203.2 222.7 279.7 247.6
15 Capital, surplus, and
undivided profits 117.0 144.5 141.6 130.1
16 Total liabilities and capital 979.5 1,150.9 1,302.4 1,193.4
2000
Account Q2 Q3 Q4
ASSETS
1 Accounts receivable, gross (2) 884.4 900.1 915.6
2 Consumer 294.1 301.9 296.1
3 Business 454.1 455.7 471.1
4 Real estate 136.2 142.4 148.3
5 LESS: Reserves for unearned
income 57.0 58.8 60.0
6 Reserves for losses 14.4 14.2 15.1
7 Accounts receivable, net 813.1 827.1 840.5
8 All other 419.4 441.4 461.8
9 Total assets 1,234.4 1,268.4 1,302.4
LIABILITIES AND CAPITAL
10 Bank loans 33.3 35.4 35.6
11 Commercial paper 234.2 215.6 235.2
Debt
12 Owed to parent 136.8 144.3 146.5
13 Not elsewhere classified 445.1 465.5 463.8
14 All other liabilities 249.6 269.2 279.7
15 Capital, surplus, and
undivided profits 135.3 138.3 141.6
16 Total liabilities and capital 1,234.4 1,268.4 1,302.4
2001
Account Q1 Q2 Q3
ASSETS
1 Accounts receivable, gross (2) 910.7 929.9 n.a.
2 Consumer 287.2 290.7 n.a.
3 Business 471.7 481.8 n.a.
4 Real estate 151.8 157.4 n.a.
5 LESS: Reserves for unearned
income 60.2 61.9 n.a.
6 Reserves for losses 15.6 16.0 n.a.
7 Accounts receivable, net 834.9 852.0 n.a.
8 All other 475.5 486.2 n.a.
9 Total assets 1,310.4 1,338.2 n.a.
LIABILITIES AND CAPITAL
10 Bank loans 41.4 45.2 n.a.
11 Commercial paper 178.2 177.3 n.a.
Debt
12 Owed to parent 138.4 145.9 n.a.
13 Not elsewhere classified 501.8 504.6 n.a.
14 All other liabilities 299.7 309.8 n.a.
15 Capital, surplus, and
undivided profits 150.8 155.5 n.a.
16 Total liabilities and capital 1,310.4 1,338.2 n.a.
(1.) Includes finance company subsidiaries of bank holding companies but
not of retailers and banks. Data are amounts carried on the balance
sheets of finance companies; securitized pools are not shown, as they
are not on the books.
(2.) Before deduction for unearned income and losses. Excludes pools of
securitized assets.
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables (1)
Billions of dollars, amounts outstanding
Type of credit 1998 1999 2000
Seasonally adjusted
1 Total 875.8 993.9 1,145.2
2 Consumer 352.8 385.3 439.3
3 Real estate 131.4 154.7 174.9
4 Business 391.6 453.9 531.0
Not seasonally adjusted
5 Total 884.0 1,003.2 1,156.0
6 Consumer 356.1 388.8 443.4
7 Motor vehicle loans 103.1 114.7 122.5
8 Motor vehicle leases 93.3 98.3 102.9
9 Revolving (2) 32.3 33.8 38.3
10 Other (3) 31.1 33.1 32.4
Securitized assets (4)
11 Motor vehicle loans 54.8 71.1 97.1
12 Motor vehicle leases 12.7 9.7 6.6
13 Revolving 8.7 10.5 27.5
14 Other 18.1 17.7 16.0
15 Real estate 131.4 154.7 174.9
16 One- to four-family 75.7 88.3 105.4
17 Other 26.6 38.3 42.9
Securitized real estate
assets (4)
18 One- to four-family 29.0 28.0 24.7
19 Other .1 .2 1.9
20 Business 396.5 459.6 537.7
21 Motor vehicles 79.6 87.8 95.2
22 Retail loans 28.1 33.2 31.0
23 Wholesale loans (5) 32.8 34.7 39.6
24 Leases 18.7 19.9 24.6
25 Equipment 198.0 221.9 267.3
26 Loans 50.4 52.2 56.2
27 Leases 147.6 169.7 211.1
28 Other business receivables (6) 69.9 95.5 108.6
Securitized assets (4)
29 Motor vehicles 29.2 31.5 37.8
30 Retail loans 2.6 2.9 3.2
31 Wholesale loans 24.7 26.4 32.5
32 Leases 1.9 2.1 2.2
33 Equipment 13.0 14.6 23.1
34 Loans 6.6 7.9 15.5
35 Leases 6.4 6.7 7.6
36 Other business
receivables (6) 6.8 8.4 5.6
2001
Type of credit Mar. Apr. May
Seasonally adjusted
1 Total 1,159.8 1,172.7 1,173.7
2 Consumer 450.9 455.9 453.4
3 Real estate 177.7 182.5 184.4
4 Business 531.1 534.2 535.9
Not seasonally adjusted
5 Total 1,164.2 1,175.0 1,176.9
6 Consumer 446.9 450.6 450.9
7 Motor vehicle loans 118.9 126.9 127.6
8 Motor vehicle leases 101.3 101.4 100.6
9 Revolving (2) 35.6 36.0 37.5
10 Other (3) 31.3 28.1 26.4
Securitized assets (4)
11 Motor vehicle loans 108.0 106.1 107.7
12 Motor vehicle leases 6.6 7.0 6.9
13 Revolving 28.8 29.1 28.4
14 Other 16.2 16.0 15.7
15 Real estate 177.7 182.5 184.4
16 One- to four-family 108.1 112.3 114.4
17 Other 43.8 43.8 43.9
Securitized real estate
assets (4)
18 One- to four-family 23.9 23.8 23.6
19 Other 1.9 2.6 2.6
20 Business 539.7 541.9 541.6
21 Motor vehicles 91.9 91.0 90.8
22 Retail loans 30.5 29.9 29.8
23 Wholesale loans (5) 35.8 35.3 35.2
24 Leases 25.6 25.8 25.8
25 Equipment 264.6 269.2 271.4
26 Loans 57.1 57.7 58.4
27 Leases 207.5 211.5 213.0
28 Other business receivables (6) 115.2 113.5 112.1
Securitized assets (4)
29 Motor vehicles 40.0 40.3 40.0
30 Retail loans 2.8 3.1 3.0
31 Wholesale loans 34.5 34.6 34.3
32 Leases 2.6 2.6 2.7
33 Equipment 22.5 22.2 21.6
34 Loans 14.6 14.4 13.9
35 Leases 7.9 7.8 7.7
36 Other business
receivables (6) 5.6 5.7 5.7
2001
Type of credit June July Aug.
Seasonally adjusted
1 Total 1,180.2 1,186.6 (r) 1,189.7
2 Consumer 452.3 453.3 455.2
3 Real estate 183.6 187.1 189.6
4 Business 544.2 546.2 (r) 544.9
Not seasonally adjusted
5 Total 1,186.2 1,181.1 (r) 1,183.6
6 Consumer 453.1 455.1 456.6
7 Motor vehicle loans 127.5 128.8 (r) 133.0
8 Motor vehicle leases 99.7 99.5 99.0
9 Revolving (2) 37.4 37.5 37.6
10 Other (3) 26.1 26.4 26.7
Securitized assets (4)
11 Motor vehicle loans 110.2 111.4 (r) 108.9
12 Motor vehicle leases 7.6 7.4 7.2
13 Revolving 29.1 29.1 28.9
14 Other 15.5 15.2 15.2
15 Real estate 183.6 187.1 189.6
16 One- to four-family 113.3 117.1 118.9
17 Other 44.2 44.0 44.8
Securitized real estate
assets (4)
18 One- to four-family 23.4 23.2 23.0
19 Other 2.8 2.8 2.8
20 Business 549.5 539.0 (r) 537.4
21 Motor vehicles 91.9 87.6 85.9
22 Retail loans 29.4 29.5 29.5
23 Wholesale loans 36.6 32.4 30.7
24 Leases 25.8 25.7 25.7
25 Equipment 276.0 272.3 (r) 273.8
26 Loans 60.7 59.0 59.9
27 Leases 215.3 213.3 (r) 213.9
28 Other business receivables (6) 113.9 112.0 110.7
Securitized assets (4)
29 Motor vehicles 39.0 38.2 38.1
30 Retail loans 3.1 2.9 2.8
31 Wholesale loans 33.4 32.7 32.7
32 Leases 2.6 2.6 2.6
33 Equipment 22.6 23.0 22.7
34 Loans 15.2 15.2 14.8
35 Leases 7.5 7.8 7.9
36 Other business
receivables (6) 6.0 6.0 6.2
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to the
June 1996 Survey of Finance Companies. In that benchmark survey, and
in the monthly surveys that have followed, more detailed breakdowns
have been obtained for some components. In addition, previously
unavailable data on securitized real estate loans are now included in
this table. The new information has resulted in some reclassification
of receivables among the three major categories (consumer, real estate,
and business) and in discontinuities in some component series between
May and June 1996.
Includes finance company subsidiaries of bank holding companies but not
of retailers and banks. Data in this table also appear in the Board's
G.20 (422) monthly statistical release. For ordering address, see
inside front cover.
(1.) Owned receivables are those carried on the balance sheet of the
institution. Managed receivables are outstanding balances of pools upon
which securities have been issued; these balances are no longer carried
on the balance sheets of the loan originator. Data are shown before
deductions for unearned income and losses. Components may not sum to
totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans to
purchase other types of consumer goods, such as appliances, apparel,
boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets
of the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans
used primarily for business or farm purposes; and wholesale and lease
paper for mobile homes, campers, and travel trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
2001
Item 1998 1999 2000 Mar.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands
of dollars) 195.2 210.7 234.5 244.5
2 Amount of loan (thousands
of dollars) 151.1 161.7 177.0 182.9
3 Loan-to-price ratio
(percent) 80.0 78.7 77.4 77.2
4 Maturity (years) 28.4 28.8 29.2 28.8
5 Fees and charges (percent
of loan amount) (2) .89 .77 .70 .66
Yield (percent per year)
6 Contract rate(1) 6.95 6.94 7.41 6.94
7 Effective rate (1,3) 7.08 7.06 7.52 7.04
8 Contract rate (HUD
series) (4) 7.00 7.45 n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section
203) (5) 7.04 7.74 n.a. n.a.
10 GNMA securities (6) 6.43 7.03 7.57 6.41
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 414,515 523,941 610,122 n.a.
12 FHA/VA insured 33,770 55,318 61,539 n.a.
13 Conventional 380,745 468,623 548,583 n.a.
14 Mortgage transactions
purchased (during
period) 188,448 195,210 154,231 20,899
15 Issued (7) 193,795 187,948 163,689 n.a.
16 To sell (8) 1,880 5,900 11,786 n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 255,010 324,443 385,693 421,655
18 FHA/VA insured 785 1,836 3,332 3,329
19 Conventional 254,225 322,607 382,361 418,326
Mortgage transactions
(during period)
20 Purchases 267,402 239,793 174,043 24,648
21 Sales 250,565 233,031 166,901 23,367
22 Mortgage commitments
contracted (during
period) (9) 281,899 228,432 169,231 26,682
2001
Item Apr. May June July
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands
of dollars) 240.8 241.4 250.6 242.9
2 Amount of loan (thousands
of dollars) 181.5 181.4 188.7 182.7
3 Loan-to-price ratio
(percent) 77.6 77.6 77.3 77.3
4 Maturity (years) 28.5 28.6 28.7 28.8
5 Fees and charges (percent
of loan amount .71 .69 .66 .66
Yield (percent per year)
6 Contract rate(1) 6.96 7.02 7.02 7.01
7 Effective rate (1,3) 7.07 7.12 7.12 7.11
8 Contract rate (HUD
series) (4) n.a. n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section
203) (5) n.a. n.a. n.a. n.a.
10 GNMA securities (6) 6.53 6.61 6.55 6.49
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total n.a. n.a. n.a. n.a.
12 FHA/VA insured n.a. n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a. n.a.
14 Mortgage transactions
purchased (during
period) 24,015 16,825 24,430 26,082
15 Issued (7) n.a. n.a. n.a. n.a.
16 To sell (8) n.a. n.a. n.a. n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 430,960 437,582 443,810 454,485
18 FHA/VA insured 2,878 2,785 2,738 2,689
19 Conventional 428,082 434,797 441,072 451,796
Mortgage transactions
(during period)
20 Purchases n.a. n.a. n.a. n.a.
21 Sales 31,219 33,670 38,133 44,574
22 Mortgage commitments
contracted (during
period) (9) 32,758 39,897 37,312 43,788
2001
Item Aug. Sept.
Terms and yields
in primary
and secondary
markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands
of dollars) 241.5 246.6
2 Amount of loan (thousands
of dollars) 181.3 184.3
3 Loan-to-price ratio
(percent) 76.6 77.1
4 Maturity (years) 28.7 29.0
5 Fees and charges (percent
of loan amount .61 .61
Yield (percent per year)
6 Contract rate(1) 7.06 6.80
7 Effective rate (1,3) 7.15 6.89
8 Contract rate (HUD
series) (4) n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section
203) (5) n.a. n.a.
10 GNMA securities (6) 6.29 6.03
Activity in
secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total n.a. n.a.
12 FHA/VA insured n.a. n.a.
13 Conventional n.a. n.a.
14 Mortgage transactions
purchased (during
period) 22,111 16,016
15 Issued (7) n.a. n.a.
16 To sell (8) n.a. n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period) (8)
17 Total 465,553 470,850
18 FHA/VA insured 2,643 2,597
19 Conventional 462,910 468,253
Mortgage transactions
(during period)
20 Purchases n.a. n.a.
21 Sales 33,933 32,666
22 Mortgage commitments
contracted (during
period) (9) 34,087 31,140
(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 1997 1998
1 All holders 5,195,235 (r) 5,707,172 (r)
By type of property
2 One- to four-family residences 3,966,639 (r) 4,351,496 (r)
3 Multifamily residences 301,817 (r) 333,873 (r)
4 Nonfarm, nonresidential 836,479 (r) 925,297 (r)
5 Farm 90,300 96,506
By type of holder
6 Major financial institutions 2,084,000 2,195,869
7 Commercial banks (2) 1,245,334 1,338,273
8 One- to four-family 745,777 798,009
9 Multifamily 50,705 54,174
10 Nonfarm, nonresidential 421,865 457,054
11 Farm 26,987 29,035
12 Savings institutions (3) 631,826 643,957
13 One- to four-family 520,782 533,895
14 Multifamily 59,540 56,847
15 Nonfarm, nonresidential 51,150 52,798
16 Farm 354 417
17 Life insurance companies 206,840 213,640
18 One- to four-family 7,187 6,590
19 Multifamily 30,402 31,522
20 Nonfarm, nonresidential 158,779 164,004
21 Farm 10,472 11,524
22 Federal and related agencies 286,194 293,602
23 Government National Mortgage
Association 8 7
24 One- to four-family 8 7
25 Multifamily 0 0
26 Farmers Home
Administration (4) 41,195 40,851
27 One- to four-family 17,253 16,895
28 Multifamily 11,720 11,739
29 Nonfarm, nonresidential 7,370 7,705
30 Farm 4,852 4,513
31 Federal Housing and Vete-
rans' Administrations 3,811 3,674
32 One- to four-family 1,767 1,849
33 Multifamily 2,044 1,825
34 Resolution Trust Corporation -278 24
35 One- to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance
Corporation 724 361
40 One- to four-family 117 58
41 Multifamily 140 70
42 Nonfarm, nonresidential 467 233
43 Farm 0 0
44 Federal National Mortgage
Association 161,308 157,675
45 One- to four-family 149,831 147,594
46 Multifamily 11,477 10,081
47 Federal Land Banks 30,657 32,983
48 One- to four-family 1,804 1,941
49 Farm 0 0
50 Federal Home Loan Mortgage
Corporation 48,454 57,085
51 One- to four-family 42,629 49,106
52 Multifamily 5,825 7,979
53 Mortgage pools or trusts (5) 2,232,848 2,581,969
54 Government National Mortgage
Association 536,879 537,446
55 One- to four-family 523,225 522,498
56 Multifamily 13,654 14,948
57 Federal Home Loan Mortgage
Corporation 579,385 646,459
58 One- to four-family 576,846 643,465
59 Multifamily 2,539 2,994
60 Federal National Mortgage
Association 709,582 834,517
61 One- to four-family 687,981 804,204
62 Multifamily 21,601 30,313
63 Farmers Home
Administration (4) 2 1
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 2 1
68 Private mortgage conduits 407,000 563,546
69 One- to four-family (6) 310,659 405,153
70 Multifamily 20,907 33,754
71 Nonfarm, nonresidential 75,434 124,639
72 Farm 0 0
73 Individuals and others (7) 592,193 (r) 635,732 (r)
74 One- to four-family 380,736 (r) 419,278 (r)
75 Multifamily 71,263 (r) 77,617 (r)
76 Nonfarm, nonresidential 121,415 (r) 118,863 (r)
77 Farm 18,779 19,974
2000
Tyoe of holder and property 1999 Q2
1 All holders 6,343,995 (r) 6,615,662 (r)
By type of property
2 One- to four-family residences 4,780,203 (r) 4,970,215 (r)
3 Multifamily residences 378,811 (r) 398,667 (r)
4 Nonfarm, nonresidential 1,082,019 (r) 1,140,329 (r)
5 Farm 102,962 106,451 (r)
By type of holder
6 Major financial institutions 2,396,265 2,550,401 (r)
7 Commercial banks (2) 1,496,844 1,615,794
8 One- to four-family 880,208 949,223
9 Multifamily 67,666 75,795
10 Nonfarm, nonresidential 517,130 557,059
11 Farm 31,839 33,717
12 Savings institutions (3) 668,634 701,992
13 One- to four-family 549,046 578,612
14 Multifamily 59,168 59,174
15 Nonfarm, nonresidential 59,945 63,688
16 Farm 475 518
17 Life insurance companies 230,787 232,615 (r)
18 One- to four-family 5,934 5,242 (r)
19 Multifamily 32,818 33,150 (r)
20 Nonfarm, nonresidential 179,048 180,856 (r)
21 Farm 12,987 13,367 (r)
22 Federal and related agencies 322,132 332,568 (r)
23 Government National Mortgage
Association 7 7
24 One- to four-family 7 7
25 Multifamily 0 0
26 Farmers Home
Administration (4) 73,871 72,896
27 One- to four-family 16,506 16,435
28 Multifamily 11,741 11,729
29 Nonfarm, nonresidential 41,355 40,554
30 Farm 4,268 4,179
31 Federal Housing and Vete-
rans' Administrations 3,712 3,845
32 One- to four-family 1,851 1,832
33 Multifamily 1,861 2,013
34 Resolution Trust Corporation -10 0
35 One- to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance
Corporation 152 72
40 One- to four-family 25 12
41 Multifamily 29 14
42 Nonfarm, nonresidential 98 46
43 Farm 0 0
44 Federal National Mortgage
Association 151,500 153,507
45 One- to four-family 141,195 142,478
46 Multifamily 10,305 11,029
47 Federal Land Banks 34,187 34,830
48 One- to four-family 2,012 2,049
49 Farm 0 0
50 Federal Home Loan Mortgage
Corporation 56,676 56,972
51 One- to four-family 44,321 42,892
52 Multifamily 12,355 14,080
53 Mortgage pools or trusts (5) 2,947,760 3,035,546 (r)
54 Government National Mortgage
Association 582,263 590,708
55 One- to four-family 565,189 572,661
56 Multifamily 17,074 18,047
57 Federal Home Loan Mortgage
Corporation 749,081 768,641
58 One- to four-family 744,619 763,890
59 Multifamily 4,462 4,751
60 Federal National Mortgage
Association 960,883 995,815
61 One- to four-family 924,941 957,584
62 Multifamily 35,942 38,231
63 Farmers Home
Administration (4) 0 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 655,533 680,382 (r)
69 One- to four-family (6) 455,021 464,593
70 Multifamily 42,226 44,413 (r)
71 Nonfarm, nonresidential 158,287 171,376 (r)
72 Farm 0 0
73 Individuals and others (7) 677,838 (r) 697,147 (r)
74 One- to four-family 447,532 (r) 462,493 (r)
75 Multifamily 82,932 (r) 86,015 (r)
76 Nonfarm, nonresidential 126,156 (r) 126,750 (r)
77 Farm 21,217 21,889 (r)
2000
Type of holder and property Q3 Q4
1 All holders 6,767,922 (r) 6,914,156 (r)
By type of property
2 One- to four-family residences 5,095,720 (r) 5,201,362 (r)
3 Multifamily residences 407,112 (r) 417,555 (r)
4 Nonfarm, nonresidential 1,157,134 (r) 1,186,403 (r)
5 Farm 107,957 108,836
By type of holder
6 Major financial institutions 2,606,592 2,620,886 (r)
7 Commercial banks (2) 1,650,294 1,661,411 (r)
8 One- to four-family 968,831 966,502 (r)
9 Multifamily 77,031 77,821
10 Nonfarm, nonresidential 570,513 583,071 (r)
11 Farm 33,919 34,016
12 Savings institutions (3) 721,563 723,534
13 One- to four-family 595,518 595,053
14 Multifamily 60,077 61,094
15 Nonfarm, nonresidential 65,437 66,852
16 Farm 531 535
17 Life insurance companies 234,735 235,941 (r)
18 One- to four-family 4,907 4,903 (r)
19 Multifamily 33,478 33,681
20 Nonfarm, nonresidential 182,646 183,757
21 Farm 13,704 13,600
22 Federal and related agencies 336,575 (r) 43,962
23 Government National Mortgage
Association 6 6
24 One- to four-family 6 6
25 Multifamily 0 0
26 Farmers Home
Administration (4) 73,009 73,323
27 One- to four-family 16,444 16,372
28 Multifamily 11,734 11,733
29 Nonfarm, nonresidential 40,665 41,070
30 Farm 4,167 4,148
31 Federal Housing and Vete-
rans' Administrations 3,395 3,507
32 One- to four-family 1,327 1,308
33 Multifamily 2,068 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
Corporation 82 45
40 One- to four-family 13 7
41 Multifamily 16 9
42 Nonfarm, nonresidential 53 29
43 Farm 0 0
44 Federal National Mortgage
Association 152,815 155,363
45 One- to four-family 141,786 144,150
46 Multifamily 11,029 11,213
47 Federal Land Banks 35,549 36,326
48 One- to four-family 2,092 2,137
49 Farm 0 0
50 Federal Home Loan Mortgage
Corporation 57,046 59,240
51 One- to four-family 42,138 42,871
52 Multifamily 14,908 16,369
53 Mortgage pools or trusts (5) 3,116,180 (r) 3,232,338 (r)
54 Government National Mortgage
Association 602,628 611,553 (r)
55 One- to four-family 584,152 592,624 (r)
56 Multifamily 18,476 18,929
57 Federal Home Loan Mortgage
Corporation 790,891 822,310
58 One- to four-family 786,007 816,602
59 Multifamily 4,884 5,708
60 Federal National Mortgage
Association 1,020,828 1,057,750
61 One- to four-family 981,206 1,016,398
62 Multifamily 39,622 41,352
63 Farmers Home
Administration (4) 0 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 701,833 (r) 740,725 (r)
69 One- to four-family (6) 477,899 499,834
70 Multifamily 46,142 (r) 49,513 (r)
71 Nonfarm, nonresidential 177,792 (r) 191,378 (r)
72 Farm 0 0
73 Individuals and others (7) 708,575 (r) 716,971 (r)
74 One- to four-family 478,944 (r) 486,664 (r)
75 Multifamily 87,423 (r) 87,714 (r)
76 Nonfarm, nonresidential 120,028 (r) 120,245 (r)
77 Farm 22,179 22,348
2001
Type of holder and property Q1 Q2
1 All holders 7,036,854 (r) 7,253,938
By type of property
2 One- to four-family residences 5,293,734 (r) 5,452,224
3 Multifamily residences 426,993 (r) 442,399
4 Nonfarm, nonresidential 1,206,253 (r) 1,246,425
5 Farm 109,873 (r) 112,889
By type of holder
6 Major financial institutions 2,664,837 (r) 2,714,965
7 Commercial banks (2) 1,688,673 (r) 1,727,255
8 One- to four-family 978,144 (r) 999,307
9 Multifamily 79,890 80,542
10 Nonfarm, nonresidential 596,405 (r) 612,247
11 Farm 34,234 35,159
12 Savings institutions (3) 741,114 751,660
13 One- to four-family 608,289 616,506
14 Multifamily 62,666 63,193
15 Nonfarm, nonresidential 69,589 71,378
16 Farm 569 583
17 Life insurance companies 235,050 (r) 236,050
18 One- to four-family 4,877 (r) 4,876
19 Multifamily 33,557 (r) 33,553
20 Nonfarm, nonresidential 183,078 (r) 184,084
21 Farm 13,538 (r) 13,537
22 Federal and related agencies 346,276 355,218
23 Government National Mortgage
Association 6 6
24 One- to four-family 6 6
25 Multifamily 0 0
26 Farmers Home
Administration (4) 73,361 73,206
27 One- to four-family 16,297 16,153
28 Multifamily 11,725 11,720
29 Nonfarm, nonresidential 41,247 41,262
30 Farm 4,093 4,072
31 Federal Housing and Vete-
rans' Administrations 2,873 2,918
32 One- to four-family 1,276 1,267
33 Multifamily 1,597 1,651
34 Resolution Trust Corporation 0 0
35 One- to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance
Corporation 50 24
40 One- to four-family 8 4
41 Multifamily 10 5
42 Nonfarm, nonresidential 32 15
43 Farm 0 0
44 Federal National Mortgage
Association 156,294 159,221
45 One- to four-family 145,014 147,730
46 Multifamily 11,280 11,491
47 Federal Land Banks 37,072 38,686
48 One- to four-family 2,181 2,276
49 Farm 0 0
50 Federal Home Loan Mortgage
Corporation 60,110 61,542
51 One- to four-family 42,771 42,537
52 Multifamily 17,339 19,005
53 Mortgage pools or trusts (5) 3,303,742 (r) 3,450,274
54 Government National Mortgage
Association 601,534 (r) 598,106
55 One- to four-family 581,754 (r) 577,315
56 Multifamily 19,780 20,792
57 Federal Home Loan Mortgage
Corporation 833,616 873,750
58 One- to four-family 827,769 867,924
59 Multifamily 5,847 5,826
60 Federal National Mortgage
Association 1,099,049 1,163,978
61 One- to four-family 1,055,412 1,116,534
62 Multifamily 43,637 47,444
63 Farmers Home
Administration (4) 0 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 769,543 (r) 814,440
69 One- to four-family (6) 523,300 539,200
70 Multifamily 50,749 (r) 56,974
71 Nonfarm, nonresidential 195,494 (r) 218,266
72 Farm 0 0
73 Individuals and others (7) 721,999 (r) 733,482
74 One- to four-family 490,345 (r) 501,192
75 Multifamily 88,699 (r) 89,989
76 Nonfarm, nonresidential 120,408 (r) 119,172
77 Farm 22,547 (r) 23,129
(1.) Multifamily debt refers to loans on structures of five or more
units.
(2.) Includes loans held by nondeposit trust companies but not loans
held by bank trust departments.
(3.) Includes savings banks and savings and loan associations.
(4). FmHA-guaranteed securities sold to the Federal Financing Bank
were reallocated from FmHA mortgage pools to FmHA mortgage holdings
in 1986:Q4 because of accounting changes by the Farmers Home
Administration.
(5.) Outstanding principal balances of mortgage-backed securities
insured or guaranteed by the agency indicated.
(6.) Includes securitized home equity loans.
(7.) Other holders include mortgage companies, real estate
investment trusts, state and local credit agencies, state and local
retirement funds, noninsured pension funds, credit unions, and
finance companies.
SOURCE. Based on data from various institutional and government
sources. Separation of nonfarm mortgage debt by type of property, if
not reported directly, and interpolations and extrapolations, when
required for some quarters, are estimated in part by the Federal
Reserve. Line 69 from Inside Mortgage Securities and other sources.
1.55 CONSUMER CREDIT (1)
Millions of dollars, amounts outstanding, end of period
Holder and type of credit 1998 1999 2000
Seasonally adjusted
1 Total 1,301,023 1,393,657 1,531,469
2 Revolving 560,504 595,610 663,830
3 Nonrevolving (2) 740,519 798,047 867,639
Not seasonally adjusted
4 Total 1,331,742 1,426,151 1,566,457
By major holder
5 Commercial banks 508,932 499,758 541,470
6 Finance companies 168,491 181,573 193,189
7 Credit unions 155,406 167,921 184,434
8 Savings institutions 51,611 61,527 64,557
9 Nonfinancial business 74,877 80,311 82,662
10 Pools of securitized
assets (3) 372,425 435,061 500,145
By major type of credit (4)
11 Revolving 586,528 623,245 693,645
12 Commercial banks 210,346 189,352 218,063
13 Finance companies 32,309 33,814 38,251
14 Credit unions 19,930 20,641 22,226
15 Savings institutions 12,450 15,838 16,560
16 Nonfinancial business 39,166 42,783 42,430
17 Pools of securitized
assets (3) 272,327 320,817 356,114
18 Nonrevolving 745,214 802,906 872,812
19 Commercial banks 298,586 310,406 323,407
20 Finance companies 136,182 147,759 154,938
21 Credit unions 135,476 147,280 162,208
22 Savings institutions 39,161 45,689 47,997
23 Nonfinancial business 35,711 37,528 40,232
24 Pools of securitized
assets (3) 100,098 114,244 144,031
2001
Holder and type of credit Mar. Apr. May
Seasonally adjusted
1 Total 1,570,990 1,584,421 1,590,958
2 Revolving 689,727 696,417 699,036
3 Nonrevolving (2) 881,264 888,004 891,923
Not seasonally adjusted
4 Total 1,558,582 1,570,273 1,576,257
By major holder
5 Commercial banks 533,680 540,740 543,048
6 Finance companies 185,862 191,028 191,539
7 Credit unions 182,918 184,280 185,971
8 Savings institutions 65,509 65,453 65,396
9 Nonfinancial business 71,403 71,490 69,963
10 Pools of securitized
assets (3) 519,210 517,283 520,340
By major type of credit (4)
11 Revolving 682,684 689,214 691,635
12 Commercial banks 209,461 214,683 216,268
13 Finance companies 35,626 36,044 37,509
14 Credit unions 20,902 21,068 21,226
15 Savings institutions 16,987 16,788 16,589
16 Nonfinancial business 33,871 33,815 32,690
17 Pools of securitized
assets (3) 365,837 366,815 367,354
18 Nonrevolving 875,898 881,060 884,622
19 Commercial banks 324,219 326,057 326,780
20 Finance companies 150,236 154,985 154,030
21 Credit unions 162,016 163,212 164,745
22 Savings institutions 48,523 48,665 48,807
23 Nonfinancial business 37,532 37,674 37,274
24 Pools of securitized
assets (3) 153,372 150,468 152,986
2001
Holder and type of credit June July (r) Aug.
Seasonally adjusted
1 Total 1,589,191 (r) 1,588,615 1,590,909
2 Revolving 700,270 (r) 701,359 702,595
3 Nonrevolving (2) 888,921 (r) 887,256 888,314
Not seasonally adjusted
4 Total 1,581,064 (r) 1,580,952 1,592,971
By major holder
5 Commercial banks 540,211 537,678 541,900
6 Finance companies 190,969 192,597 197,398
7 Credit unions 187,000 185,512 187,138
8 Savings institutions 65,340 65,999 66,658
9 Nonfinancial business 68,016 (r) 65,360 63,550
10 Pools of securitized
assets (3) 529,528 533,806 536,326
By major type of credit (4)
11 Revolving 694,276 (r) 693,943 698,936
12 Commercial banks 213,080 212,162 212,291
13 Finance companies 37,373 37,485 37,623
14 Credit unions 21,290 21,822 22,124
15 Savings institutions 16,391 16,714 17,036
16 Nonfinancial business 31,366 (r) 29,314 27,603
17 Pools of securitized
assets (3) 374,776 376,447 382,259
18 Nonrevolving 886,788 (r) 887,009 894,036
19 Commercial banks 327,131 325,516 329,610
20 Finance companies 153,597 155,112 159,775
21 Credit unions 165,710 163,690 165,014
22 Savings institutions 48,949 49,286 49,622
23 Nonfinancial business 36,650 (r) 36,046 35,948
24 Pools of securitized
assets (3) 154,752 157,360 154,068
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals, excluding loans
secured by real estate. Data in this table also appear in the Board's
G.19 (421) monthly statistical release. For ordering address, see
inside front cover.
(2.) Comprises motor vehicle loans, mobile home loans, and all other
loans that are not included in revolving credit, such as loans for
education, boats, trailers, or vacations. These loans may be secured
or unsecured.
(3.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets of
the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT (1)
Percent per year except as noted
2001
Item 1998 1999 2000 Feb. Mar.
INTEREST RATES
Commercial banks (2)
1 48-month new car 8.72 8.44 9.34 9.17 n.a.
2 24-month personal 13.74 13.39 13.90 13.71 n.a.
Credit card plan
3 All accounts 15.71 15.21 15.71 15.66 n.a.
4 Accounts assessed
interest 15.59 14.81 14.91 14.61 n.a.
Auto finance companies
5 New car 6.30 6.66 6.61 7.19 6.80
6 Used car 12.64 12.60 13.55 13.34 13.19
OTHER TERMS (3)
Maturity (months)
7 New car 52.1 52.7 54.9 55.5 55.6
8 Used car 53.5 55.9 57.0 58.0 58.0
Loan-to-value ratio
9 New car 92 92 92 91 91
10 Used car 99 99 99 99 100
Amount financed
(dollars)
11 New car 19,083 19,880 20,923 21,993 22,131
12 Used car 12,691 13,642 14,058 14,095 14,214
2001
Item Apr. May June July Aug.
INTEREST RATES
Commercial banks (2)
1 48-month new car n.a. 8.67 n.a. n.a. 8.31
2 24-month personal n.a. 13.28 n.a. n.a. 13.25
Credit card plan
3 All accounts n.a. 15.07 n.a. n.a. 14.60
4 Accounts assessed
interest n.a. 14.63 n.a. n.a. 14.64
Auto finance companies
5 New car 6.80 6.56 6.15 6.20 6.41
6 Used car 12.82 12.57 12.05 11.79 12.06
OTHER TERMS (3)
Maturity (months)
7 New car 56.3 57.0 57.2 57.3 57.7
8 Used car 57.9 57.8 57.6 57.6 57.6
Loan-to-value ratio
9 New car 91 92 91 91 91
10 Used car 100 100 100 100 100
Amount financed
(dollars)
11 New car 21,914 21,871 22,124 22,687 22,591
12 Used car 14,347 14,350 14,586 14,571 14,321
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals. Data in this table
also appear in the Board's G.19 (421) monthly statistical release. For
ordering address, see inside front cover.
(2.) Data are available for only the second month of each quarter.
(3.) At auto finance companies.
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS (1)
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or
sector 1995 1996 1997 1998
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 705.9 733.1 804.4 1,023.5
By sector and instrument
2 Federal government 144.4 145.0 23.1 -52.6
3 Treasury securities 142.9 146.6 23.2 -54.6
4 Budget agency securities
and mortgages 1.5 -1.6 -.1 2.0
5 Nonfederal 561.5 588.1 781.3 1,076.2
By instrument
6 Commercial paper 18.1 -.9 13.7 24.4
7 Municipal securities and
loans -48.2 2.6 71.4 96.8
8 Corporate bonds 91.1 116.3 150.5 218.7
9 Bank loans n.e.c. 103.7 70.5 106.5 108.2
10 Other loans and advances 67.2 33.5 69.1 74.3
11 Mortgages 190.6 277.5 317.6 486.1
12 Home 179.1 242.9 252.6 384.2
13 Multifamily residential 4.5 9.5 7.6 23.8
14 Commercial 5.7 22.5 54.3 71.5
15 Farm 1.4 2.7 3.1 6.5
16 Consumer credit 138.9 88.8 52.5 67.6
By borrowing sector
17 Household 339.3 338.5 322.1 454.2
18 Nonfinancial business 273.7 256.4 403.2 541.7
19 Corporate 224.9 183.7 301.3 394.8
20 Nonfarm noncorporate 46.1 67.8 95.7 138.9
21 Farm 2.7 4.9 6.2 8.0
22 State and local government -51.5 -6.8 56.1 80.3
23 Foreign net borrowing in
United States 78.5 88.4 71.8 43.4
24 Commercial paper 13.5 11.3 3.7 7.8
25 Bonds 57.1 67.0 61.4 34.9
26 Bank loans n.e.c. 8.5 9.1 8.5 6.7
27 Other loans and advances -.5 1.0 -1.8 -6.0
28 Total domestic plus foreign 784.5 821.5 876.2 1,066.9
Financial sectors
29 Total net borrowing by
financial sectors 454.0 545.7 653.8 1,073.8
By instrument
30 Federal government-related 204.2 231.4 212.9 470.9
31 Government-sponsored
enterprise securities 105.9 90.4 98.4 278.3
32 Mortgage pool securities 98.3 141.0 114.6 192.6
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 249.8 314.4 440.9 602.9
35 Open market paper 42.7 92.2 166.7 161.0
36 Corporate bonds 195.9 173.8 210.5 296.9
37 Bank loans n.e.c. 2.5 12.6 13.2 30.1
38 Other loans and advances 3.4 27.9 35.6 90.2
39 Mortgages 5.3 7.9 14.9 24.8
By borrowing sector
40 Commercial banking 22.5 13.0 46.1 72.9
41 Savings institutions 2.6 25.5 19.7 52.2
42 Credit unions -.1 .1 .1 .6
43 Life insurance companies -.1 1.1 .2 .7
44 Government-sponsored
enterprises 105.9 90.4 98.4 278.3
45 Federally related mortgage
pools 98.3 141.0 114.6 192.6
46 Issuers of asset-backed
securities (ABSs) 142.4 150.8 202.2 321.4
47 Finance companies 50.2 45.9 48.7 43.0
48 Mortgage companies -2.2 4.1 -4.6 1.6
49 Real estate investment
trusts (REITs) 4.5 11.9 39.6 62.7
50 Brokers and dealers -5.0 -2.0 8.1 7.2
51 Funding corporations 34.9 64.1 80.7 40.7
All sectors
52 Total net borrowing, all
sectors 1,238.5 1,367.2 1,530.0 2,140.7
53 Open market paper 74.3 102.6 184.1 193.1
54 U.S. government securities 348.6 376.4 236.0 418.3
55 Municipal securities -48.2 2.6 71.4 96.8
56 Corporate and foreign bonds 344.1 357.0 422.4 550.4
57 Bank loans n.e.c. 114.7 92.1 128.2 145.0
58 Other loans and advances 70.1 62.5 102.8 158.5
59 Mortgages 196.0 285.3 332.5 510.9
60 Consumer credit 138.9 88.8 52.5 67.6
Funds raised through mutual funds
and corporate equities
61 Total net issues 146.8 231.8 181.8 102.8
62 Corporate equities -.6 -5.8 -83.3 -171.8
63 Nonfinancial corporations -58.3 -69.5 -114.4 -267.0
64 Foreign shares purchased
by U.S. residents 65.4 82.8 57.6 101.3
65 Financial corporations -7.7 -19.2 -26.5 -6.1
66 Mutual fund shares 147.4 237.6 265.1 274.6
1999 2000
Transation category or
sector 1999 Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,097.8 999.7 949.6 967.5
By sector and instrument
2 Federal government -71.2 -30.0 -217.2 -408.7
3 Treasury securities -71.0 -30.1 -215.2 -410.5
4 Budget agency securities
and mortgages -.2 .0 -2.1 1.8
5 Nonfederal 1,169.1 1,029.7 1,166.8 1,376.2
By instrument
6 Commercial paper 37.4 44.0 29.8 110.4
7 Municipal securities and
loans 68.2 44.8 20.0 30.1
8 Corporate bonds 229.9 155.2 186.2 153.8
9 Bank loans n.e.c. 82.7 84.8 139.5 163.3
10 Other loans and advances 60.6 23.7 147.1 126.0
11 Mortgages 595.9 567.7 498.8 654.6
12 Home 429.5 377.2 356.2 484.6
13 Multifamily residential 42.7 53.9 30.9 49.0
14 Commercial 117.9 133.9 104.3 110.9
15 Farm 5.8 2.7 7.4 10.1
16 Consumer credit 94.4 109.5 145.3 137.9
By borrowing sector
17 Household 506.3 437.8 516.6 612.7
18 Nonfinancial business 610.4 564.7 637.2 745.2
19 Corporate 449.2 389.5 487.7 550.8
20 Nonfarm noncorporate 155.7 169.4 135.7 184.7
21 Farm 5.5 5.9 13.8 9.7
22 State and local government 52.3 27.2 12.9 18.2
23 Foreign net borrowing in
United States 27.9 22.8 117.4 50.6
24 Commercial paper 16.3 33.6 57.8 12.0
25 Bonds 16.8 2.3 44.7 31.2
26 Bank loans n.e.c. .5 2.3 15.4 5.7
27 Other loans and advances -5.7 -15.4 -.5 1.7
28 Total domestic plus foreign 1,125.8 1,022.5 1,067.0 1,018.1
Financial sectors
29 Total net borrowing by
financial sectors 1,077.3 961.4 601.2 884.8
By instrument
30 Federal government-related 592.0 552.4 224.4 381.1
31 Government-sponsored
enterprise securities 318.2 367.9 104.9 248.9
32 Mortgage pool securities 273.8 184.5 119.5 132.2
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 485.3 409.0 376.7 503.7
35 Open market paper 176.2 404.4 114.6 136.7
36 Corporate bonds 211.2 -30.1 165.0 227.7
37 Bank loans n.e.c. -14.3 -54.4 3.1 10.2
38 Other loans and advances 107.1 85.9 87.0 119.2
39 Mortgages 5.1 3.2 7.0 10.0
By borrowing sector
40 Commercial banking 67.2 44.8 78.3 99.3
41 Savings institutions 48.0 -6.8 57.5 69.0
42 Credit unions 2.2 3.3 -2.9 .9
43 Life insurance companies .7 -4.4 -.7 -1.1
44 Government-sponsored
enterprises 318.2 367.9 104.9 248.9
45 Federally related mortgage
pools 273.8 184.5 119.5 132.2
46 Issuers of asset-backed
securities (ABSs) 223.4 105.9 175.0 146.0
47 Finance companies 62.4 92.1 53.5 177.7
48 Mortgage companies .2 6.2 -3.0 2.7
49 Real estate investment
trusts (REITs) 6.3 11.3 11.5 9.8
50 Brokers and dealers -17.2 -37.3 44.4 -.7
51 Funding corporations 92.2 193.8 -36.8 -.1
All sectors
52 Total net borrowing, all
sectors 2,203.1 1,983.8 1,668.1 1,902.9
53 Open market paper 229.9 482.0 202.1 259.1
54 U.S. government securities 520.7 522.4 7.2 -27.6
55 Municipal securities 68.2 44.8 20.0 30.1
56 Corporate and foreign bonds 457.9 127.4 396.0 412.7
57 Bank loans n.e.c. 68.9 32.7 158.0 179.2
58 Other loans and advances 162.0 94.2 233.6 246.9
59 Mortgages 601.0 570.9 505.9 664.6
60 Consumer credit 94.4 109.5 145.3 137.9
Funds raised through mutual funds
and corporate equities
61 Total net issues 146.3 168.2 387.7 163.4
62 Corporate equities -42.1 8.0 80.4 -68.7
63 Nonfinancial corporations -143.5 -55.0 61.2 -245.2
64 Foreign shares purchased
by U.S. residents 114.4 71.3 62.6 185.9
65 Financial corporations -13.0 -8.3 -43.4 -9.3
66 Mutual fund shares 188.3 160.2 307.3 232.0
2000 2001
Transaction category or
sector Q3 Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 801.3 758.0 1,001.1 1,034.9
By sector and instrument
2 Federal government -226.2 -331.3 -4.3 -216.0
3 Treasury securities -223.8 -330.2 -2.1 -217.1
4 Budget agency securities
and mortgages -2.4 -1.2 -2.2 1.1
5 Nonfederal 1,027.6 1,089.4 1,005.4 1,251.0
By instrument
6 Commercial paper 56.1 -4.0 -207.2 -141.5
7 Municipal securities and
loans 31.0 60.1 106.9 113.9
8 Corporate bonds 184.4 175.6 403.7 423.7
9 Bank loans n.e.c. 50.2 59.4 -6.7 -144.1
10 Other loans and advances 18.4 125.2 -12.5 102.8
11 Mortgages 565.0 549.5 563.1 823.3
12 Home 435.9 392.3 431.5 613.9
13 Multifamily residential 29.5 41.7 40.4 56.2
14 Commercial 93.1 111.8 86.7 144.2
15 Farm 6.5 3.8 4.5 9.1
16 Consumer credit 122.5 123.7 158.1 72.8
By borrowing sector
17 Household 544.4 498.4 549.5 660.9
18 Nonfinancial business 459.4 537.2 355.8 480.0
19 Corporate 322.9 388.5 228.2 348.1
20 Nonfarm noncorporate 129.3 134.2 121.3 125.4
21 Farm 7.2 14.5 6.3 6.5
22 State and local government 23.8 53.7 100.1 110.1
23 Foreign net borrowing in
United States 108.7 107.4 9.3 4.2
24 Commercial paper 7.0 50.1 -25.4 -5.6
25 Bonds 91.5 49.6 33.3 36.0
26 Bank loans n.e.c. 11.9 12.2 13.0 -26.9
27 Other loans and advances -1.7 -4.6 -11.6 .7
28 Total domestic plus foreign 910.0 865.4 1,010.4 1,039.1
Financial sectors
29 Total net borrowing by
financial sectors 777.9 976.7 882.9 763.1
By instrument
30 Federal government-related 514.8 613.6 432.6 671.2
31 Government-sponsored
enterprise securities 278.1 304.5 262.3 264.7
32 Mortgage pool securities 236.7 309.1 170.3 406.5
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 263.1 363.1 450.3 91.8
35 Open market paper 106.5 153.2 -134.6 -85.4
36 Corporate bonds 192.1 217.4 456.7 157.7
37 Bank loans n.e.c. -9.9 -4.4 27.8 14.5
38 Other loans and advances -31.6 -4.8 107.8 -11.0
39 Mortgages 6.0 1.8 -7.5 16.0
By borrowing sector
40 Commercial banking 43.4 18.8 148.3 -15.6
41 Savings institutions -37.9 20.4 62.5 16.2
42 Credit unions 1.1 1.0 -.6 .8
43 Life insurance companies -.3 -.7 -2.4 .1
44 Government-sponsored
enterprises 278.1 304.5 262.3 264.7
45 Federally related mortgage
pools 236.7 309.1 170.3 406.5
46 Issuers of asset-backed
securities (ABSs) 156.2 307.9 289.8 171.8
47 Finance companies 29.6 37.8 -42.8 35.7
48 Mortgage companies -.3 1.0 .7 .6
49 Real estate investment
trusts (REITs) -2.4 -8.1 -6.1 2.2
50 Brokers and dealers 25.4 -6.6 -23.7 35.6
51 Funding corporations 48.2 -8.5 24.6 -155.5
All sectors
52 Total net borrowing, all
sectors 1,687.9 1,842.1 1,893.2 1,802.2
53 Open market paper 169.7 199.3 -367.2 -232.5
54 U.S. government securities 288.6 282.2 428.3 455.2
55 Municipal securities 31.0 60.1 106.9 113.9
56 Corporate and foreign bonds 468.0 442.6 893.7 617.4
57 Bank loans n.e.c. 52.2 67.1 34.1 -156.5
58 Other loans and advances -15.0 115.8 83.7 92.5
59 Mortgages 571.0 551.3 555.6 839.4
60 Consumer credit 122.5 123.7 158.1 72.8
Funds raised through mutual funds
and corporate equities
61 Total net issues 211.3 -166.0 170.0 427.6
62 Corporate equities -68.1 -322.7 73.6 143.8
63 Nonfinancial corporations -87.7 -394.8 -33.9 -35.2
64 Foreign shares purchased
by U.S. residents 61.1 89.4 109.2 208.8
65 Financial corporations -41.5 -17.4 -1.8 -29.9
66 Mutual fund shares 279.4 156.7 96.4 283.8
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F2 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 1995 1996 1997
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,238.5 1,367.2 1,530.0
2 Domestic nonfederal nonfinancial
sectors -79.3 69.7 -29.7
3 Household 16.5 109.4 -20.2
4 Nonfinancial corporate business -8.8 -10.2 -12.7
5 Nonfarm noncorporate business 4.4 4.2 3.0
6 State and local governments -91.4 -33.7 .1
7 Federal government -.5 -7.2 5.1
8 Rest of the world 273.9 414.4 311.3
9 Financial sectors 1,044.4 890.3 1,243.3
10 Monetary authority 12.7 12.3 38.3
11 Commercial banking 265.9 187.5 324.3
12 U.S.-chartered banks 186.5 119.6 274.9
13 Foreign banking offices in
United States 75.4 63.3 40.2
14 Bank holding companies -.3 3.9 5.4
15 Banks in U.S.-affiliated areas 4.2 .7 3.7
16 Savings institutions -7.6 19.9 -4.7
17 Credit unions 16.2 25.5 16.8
18 Bank personal trusts and estates -8.3 -7.7 -25.0
19 Life insurance companies 100.0 69.6 104.8
20 Other insurance companies 21.5 22.5 25.2
21 Private pension funds 19.9 -4.1 47.6
22 State and local government
retirement funds 38.3 35.8 67.1
23 Money market mutual funds 86.5 88.8 87.5
24 Mutual funds 52.5 48.9 80.9
25 Closed-end funds 10.2 4.6 -2.6
26 Government-sponsored enterprises 95.4 97.4 106.6
27 Federally related mortgage pools 98.3 141.0 114.6
28 Asset-backed securities issuers
(ABSs) 120.6 120.5 163.8
29 Finance companies 49.9 18.4 21.9
30 Mortgage companies -3.4 8.2 -9.1
31 Real estate investment trusts
(REITs) 1.4 4.4 20.2
32 Brokers and dealers 90.1 -15.7 14.9
33 Funding corporations -15.7 12.6 50.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,238.5 1,367.2 1,530.0
Other financial sources
35 Official foreign exchange 8.8 -6.3 .7
36 Special drawing rights certificates 2.2 -.5 -.5
37 Treasury currency .7 .5 .5
38 Foreign deposits 35.3 85.9 107.7
39 Net interbank transactions 10.0 -51.6 -19.7
40 Checkable deposits and currency -12.8 15.7 41.2
41 Small time and savings deposits 96.6 97.2 97.1
42 Large time deposits 65.6 114.0 122.5
43 Money market fund shares 141.2 145.4 155.9
44 Security repurchase agreements 110.5 41.4 120.9
45 Corporate equities -.6 -5.8 -83.3
46 Mutual fund shares 147.4 237.6 265.1
47 Trade payables 133.7 123.3 139.7
48 Security credit 26.7 52.4 111.0
49 Life insurance reserves 45.8 44.5 59.3
50 Pension fund reserves 158.8 148.3 201.4
51 Taxes payable 7.8 19.5 22.3
52 Investment in bank personal trusts 6.4 -5.3 -49.9
53 Noncorporate proprietors' equity -.2 -31.6 -71.8
54 Miscellaneous 496.9 525.0 490.6
55 Total financial sources 2,719.2 2,917.0 3,240.6
Liabilities not identified as
assets (-)
56 Treasury currency -.3 -.4 -.2
57 Foreign deposits 25.1 59.6 106.2
58 Net interbank liabilities -3.1 -3.3 -19.9
59 Security repurchase agreements 25.7 2.4 63.2
60 Taxes payable 21.1 23.1 28.0
61 Miscellaneous -197.1 -124.5 -126.4
Floats not included in assets (-)
62 Federal government checkable
deposits -6.0 .5 -2.7
63 Other checkable deposits -3.8 -4.0 -3.9
64 Trade credit 17.4 -25.4 -29.2
65 Total identified to sectors as
assets 2,840.3 2,989.2 3,225.4
1999
Transaction category or sector 1998 1999 Q4
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,140.7 2,203.1 1,983.8
2 Domestic nonfederal nonfinancial
sectors 86.3 189.2 -32.2
3 Household -50.4 141.5 -.2
4 Nonfinancial corporate business -16.0 -2.8 -41.1
5 Nonfarm noncorporate business 18.1 7.1 6.9
6 State and local governments 134.5 43.4 2.3
7 Federal government 13.5 5.8 -11.8
8 Rest of the world 254.2 208.8 136.0
9 Financial sectors 1,786.7 1,799.2 1,891.8
10 Monetary authority 21.1 25.7 -49.1
11 Commercial banking 305.2 308.2 500.4
12 U.S.-chartered banks 312.0 317.6 417.4
13 Foreign banking offices in
United States -11.9 -20.1 34.1
14 Bank holding companies -.9 6.2 42.6
15 Banks in U.S.-affiliated areas 6.0 4.4 6.3
16 Savings institutions 36.1 68.6 23.1
17 Credit unions 19.0 27.5 21.1
18 Bank personal trusts and estates -12.8 27.8 27.8
19 Life insurance companies 76.9 53.5 27.4
20 Other insurance companies 5.8 -3.0 -8.2
21 Private pension funds 56.4 45.0 49.8
22 State and local government
retirement funds 72.1 46.9 46.2
23 Money market mutual funds 244.0 182.0 355.1
24 Mutual funds 124.8 47.2 -23.2
25 Closed-end funds 5.5 7.4 7.4
26 Government-sponsored enterprises 314.6 291.7 253.7
27 Federally related mortgage pools 192.6 273.8 184.5
28 Asset-backed securities issuers
(ABSs) 281.7 205.2 76.1
29 Finance companies 51.9 94.9 96.3
30 Mortgage companies 3.2 .3 12.3
31 Real estate investment trusts
(REITs) -5.1 -2.6 -7.0
32 Brokers and dealers 6.8 -34.7 -42.2
33 Funding corporations -12.9 133.8 340.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,140.7 2,203.1 1,983.8
Other financial sources
35 Official foreign exchange 6.6 -8.7 -7.0
36 Special drawing rights certificates .0 -3.0 -4.0
37 Treasury currency .6 1.0 .0
38 Foreign deposits 6.5 61.0 -35.4
39 Net interbank transactions -32.3 17.6 -17.2
40 Checkable deposits and currency 47.4 151.4 368.9
41 Small time and savings deposits 152.4 44.7 44.5
42 Large time deposits 92.1 130.6 348.3
43 Money market fund shares 287.2 249.1 455.8
44 Security repurchase agreements 91.3 169.7 260.8
45 Corporate equities -171.8 -42.1 8.0
46 Mutual fund shares 274.6 188.3 160.2
47 Trade payables 109.2 222.3 255.4
48 Security credit 103.3 104.3 337.0
49 Life insurance reserves 48.0 50.8 57.6
50 Pension fund reserves 202.1 184.5 166.2
51 Taxes payable 21.3 22.3 31.2
52 Investment in bank personal trusts -41.8 -6.5 -7.6
53 Noncorporate proprietors' equity -74.0 -49.1 -48.2
54 Miscellaneous 1,002.5 738.1 677.5
55 Total financial sources 4,265.8 4,429.2 5,035.7
Liabilities not identified as
assets (-)
56 Treasury currency -.1 -.7 -2.2
57 Foreign deposits -8.5 45.8 26.2
58 Net interbank liabilities 3.4 3.5 -37.7
59 Security repurchase agreements 60.6 30.0 -250.9
60 Taxes payable 19.7 6.5 3.6
61 Miscellaneous -137.7 -373.6 -200.1
Floats not included in assets (-)
62 Federal government checkable
deposits 2.6 -7.4 -20.0
63 Other checkable deposits -3.1 -.8 -.2
64 Trade credit -51.3 42.9 185.3
65 Total identified to sectors as
assets 4,380.3 4,683.0 5,331.7
2000
Transaction category or sector Q1 Q2 Q3
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,668.1 1,902.9 1,687.9
2 Domestic nonfederal nonfinancial
sectors -227.3 133.4 -231.3
3 Household -283.0 31.2 -160.1
4 Nonfinancial corporate business 56.5 61.9 -50.8
5 Nonfarm noncorporate business -2.1 .4 -4.0
6 State and local governments 1.2 39.9 -16.4
7 Federal government 6.5 7.7 4.5
8 Rest of the world 315.2 197.9 216.2
9 Financial sectors 1,573.7 1,563.8 1,698.6
10 Monetary authority 102.0 -5.4 39.1
11 Commercial banking 415.8 497.4 363.2
12 U.S.-chartered banks 448.2 510.9 324.8
13 Foreign banking offices in
United States 4.5 -22.3 32.8
14 Bank holding companies -42.2 3.5 -6.7
15 Banks in U.S.-affiliated areas 5.4 5.4 12.3
16 Savings institutions 55.6 65.0 62.7
17 Credit unions 35.7 31.6 21.2
18 Bank personal trusts and estates 18.9 13.8 17.6
19 Life insurance companies 65.0 52.9 74.8
20 Other insurance companies -11.2 -18.1 6.2
21 Private pension funds 46.8 24.7 64.9
22 State and local government
retirement funds 63.3 31.5 37.6
23 Money market mutual funds 161.5 -118.2 256.1
24 Mutual funds -66.9 63.1 50.1
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored enterprises 205.4 250.9 188.6
27 Federally related mortgage pools 119.5 132.2 236.7
28 Asset-backed securities issuers
(ABSs) 154.2 111.4 120.9
29 Finance companies 144.0 138.9 91.6
30 Mortgage companies -6.0 5.5 -.5
31 Real estate investment trusts
(REITs) -16.3 -2.5 -3.6
32 Brokers and dealers 101.9 90.0 152.7
33 Funding corporations -7.2 207.7 -72.9
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,668.1 1,902.9 1,687.9
Other financial sources
35 Official foreign exchange 1.5 -8.8 .7
36 Special drawing rights certificates .0 -8.0 -4.0
37 Treasury currency 2.2 3.2 4.2
38 Foreign deposits 313.3 3.4 -40.8
39 Net interbank transactions -72.9 151.9 -170.6
40 Checkable deposits and currency -206.8 -33.8 5.0
41 Small time and savings deposits 104.6 123.0 224.5
42 Large time deposits 154.1 101.2 152.9
43 Money market fund shares 239.7 71.5 250.9
44 Security repurchase agreements 275.0 155.2 278.0
45 Corporate equities 80.4 -68.7 -68.1
46 Mutual fund shares 307.3 232.0 279.4
47 Trade payables 193.5 193.9 132.8
48 Security credit 485.0 -91.4 94.7
49 Life insurance reserves 54.9 45.6 53.0
50 Pension fund reserves 210.8 260.8 227.1
51 Taxes payable 30.9 31.8 -1.6
52 Investment in bank personal trusts -28.4 -33.1 -29.2
53 Noncorporate proprietors' equity -48.6 -28.8 -10.7
54 Miscellaneous 999.5 1,089.7 1,283.9
55 Total financial sources 4,764.2 4,093.4 4,350.2
Liabilities not identified as
assets (-)
56 Treasury currency -1.8 -.7 .9
57 Foreign deposits 262.7 -81.9 -99.2
58 Net interbank liabilities 25.3 5.4 -12.1
59 Security repurchase agreements 566.4 52.0 127.4
60 Taxes payable 9.4 10.0 -7.5
61 Miscellaneous -417.8 -352.7 -275.6
Floats not included in assets (-)
62 Federal government checkable
deposits 18.7 16.3 3.0
63 Other checkable deposits 1.0 1.4 1.9
64 Trade credit -72.1 -50.0 -49.4
65 Total identified to sectors as
assets 4,372.4 4,493.7 4,660.7
2000 2001
Transaction category or sector Q4 Q1 Q2
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,842.1 1,893.2 1,802.2
2 Domestic nonfederal nonfinancial
sectors -155.8 -222.5 -63.2
3 Household -136.4 -259.9 13.3
4 Nonfinancial corporate business -28.7 40.6 -46.5
5 Nonfarm noncorporate business -2.7 -4.8 -5.2
6 State and local governments 12.1 1.5 -24.8
7 Federal government 10.6 4.6 9.4
8 Rest of the world 387.8 410.8 344.0
9 Financial sectors 1,599.5 1,700.3 1,511.9
10 Monetary authority -.9 53.7 26.4
11 Commercial banking 157.0 152.8 158.4
12 U.S.-chartered banks 75.3 107.9 179.7
13 Foreign banking offices in
United States 81.1 41.3 -22.7
14 Bank holding companies -3.2 7.3 -2.8
15 Banks in U.S.-affiliated areas 3.8 -3.6 4.2
16 Savings institutions 42.5 52.5 56.2
17 Credit unions 33.6 3.9 24.6
18 Bank personal trusts and estates 18.1 10.7 13.4
19 Life insurance companies 38.8 95.3 101.2
20 Other insurance companies -11.7 2.1 2.8
21 Private pension funds 28.7 26.1 20.2
22 State and local government
retirement funds 66.1 13.3 17.7
23 Money market mutual funds 296.0 303.4 166.2
24 Mutual funds 60.8 69.4 130.9
25 Closed-end funds -8.4 -8.4 -8.4
26 Government-sponsored enterprises 318.8 347.8 302.4
27 Federally related mortgage pools 309.1 170.3 406.5
28 Asset-backed securities issuers
(ABSs) 278.9 269.8 159.4
29 Finance companies 23.1 -3.9 85.5
30 Mortgage companies 2.0 1.4 1.1
31 Real estate investment trusts
(REITs) -2.8 4.0 1.1
32 Brokers and dealers -69.0 311.4 13.8
33 Funding corporations 19.0 -175.3 -167.5
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,842.1 1,893.2 1,802.2
Other financial sources
35 Official foreign exchange 4.9 -1.5 4.7
36 Special drawing rights certificates -4.0 .0 .0
37 Treasury currency .0 -1.1 1.1
38 Foreign deposits 207.4 235.5 -146.5
39 Net interbank transactions 10.6 -202.4 177.0
40 Checkable deposits and currency -50.2 90.3 101.0
41 Small time and savings deposits 310.8 288.3 193.1
42 Large time deposits 65.2 130.6 65.9
43 Money market fund shares 371.1 621.4 322.5
44 Security repurchase agreements -264.6 11.2 155.2
45 Corporate equities -322.7 73.6 143.8
46 Mutual fund shares 156.7 96.4 283.8
47 Trade payables 105.4 -21.8 -10.1
48 Security credit 75.6 -64.6 -82.9
49 Life insurance reserves 47.3 52.7 59.7
50 Pension fund reserves 169.0 255.6 196.7
51 Taxes payable 25.9 .6 2.0
52 Investment in bank personal trusts -28.0 -26.1 -22.7
53 Noncorporate proprietors' equity -34.9 -29.3 -13.0
54 Miscellaneous 595.9 570.9 932.1
55 Total financial sources 3,283.4 3,973.5 4,165.8
Liabilities not identified as
assets (-)
56 Treasury currency -3.3 -3.6 -.3
57 Foreign deposits 193.3 178.2 -108.3
58 Net interbank liabilities 51.1 16.7 12.9
59 Security repurchase agreements -302.3 -141.4 121.2
60 Taxes payable 44.5 1.7 -26.9
61 Miscellaneous -403.7 -7.4 -291.1
Floats not included in assets (-)
62 Federal government checkable
deposits -2.1 -29.8 13.8
63 Other checkable deposits 2.4 3.8 3.9
64 Trade credit 24.1 26.7 -5.0
65 Total identified to sectors as
assets 3,679.4 3,928.6 4,445.6
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.1 and F.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING (1)
Billions of dollars, end of period
Transaction category or
sector 1996 1997 1998 1999
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 14,440.6 15,243.5 16,267.0 17,399.6
By sector and instrument
2 Federal government 3,781.8 3,804.9 3,752.2 3,681.0
3 Treasury securities 3,755.1 3,778.3 3,723.7 3,652.8
4 Budget agency
securities and
mortgages 26.6 26.5 28.5 28.3
5 Nonfederal 10,658.8 11,438.6 12,514.8 13,718.5
By instrument
6 Commercial paper 156.4 168.6 193.0 230.3
7 Municipal securities
and loans 1,296.0 1,367.5 1,464.3 1,532.5
8 Corporate bonds 1,460.4 1,610.9 1,829.6 2,059.5
9 Bank loans n.e.c. 934.1 1,040.5 1,148.8 1,231.5
10 Other loans and
advances 770.4 839.5 913.8 974.6
11 Mortgages 4,830.0 5,147.6 5,633.7 6,264.0
12 Home 3,717.1 3,969.7 4,353.9 4,783.5
13 Multifamily
residential 278.2 285.8 309.7 352.6
14 Commercial 747.8 802.0 873.5 1,025.6
15 Farm 86.9 90.0 96.6 102.3
16 Consumer credit 1,211.6 1,264.1 1,331.7 1,426.2
By borrowing sector
17 Households 5,218.6 5,540.9 5,995.1 6,501.7
18 Nonfinancial business 4,376.8 4,778.2 5,319.9 5,964.7
19 Corporate 3,097.3 3,396.9 3,791.6 4,275.2
20 Nonfarm noncorporate 1,129.8 1,225.5 1,364.4 1,520.1
21 Farm 149.7 155.9 163.9 169.4
22 State and local 1,063.4 1,119.5 1,199.8 1,252.1
government
23 Foreign credit market
debt held in United
States 542.2 608.0 651.5 679.6
24 Commercial paper 67.5 65.1 72.9 89.2
25 Bonds 366.3 427.7 462.6 479.4
26 Bank loans n.e.c. 43.7 52.1 58.9 59.4
27 Other loans and advances 64.7 63.0 57.2 51.7
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 14,982.7 15,851.5 16,918.5 18,079.2
Financial sectors
29 Total credit market debt
owed by financial
sectors 4,824.5 5,445.2 6,519.1 7,596.3
By instrument
30 Federal government-
related 2,608.2 2,821.1 3,292.0 3,884.0
31 Government-sponsored
enterprise
securities 896.9 995.3 1,273.6 1,591.7
32 Mortgage pool
securities 1,711.3 1,825.8 2,018.4 2,292.2
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 2,216.3 2,624.1 3,227.0 3,712.4
35 Open market paper 579.1 745.7 906.7 1,082.9
36 Corporate bonds 1,378.4 1,555.9 1,852.8 2,064.0
37 Bank loans n.e.c. 64.0 77.2 107.2 92.9
38 Other loans and
advances 162.9 198.5 288.7 395.8
39 Mortgages 31.9 46.8 71.6 76.7
By borrowing sector
40 Commercial banks 113.6 140.6 188.6 230.0
41 Bank holding companies 150.0 168.6 193.5 219.3
42 Savings institutions 140.5 160.3 212.4 260.4
43 Credit unions .4 .6 1.1 3.4
44 Life insurance companies 1.6 1.8 2.5 3.2
45 Government-sponsored
enterprises 896.9 995.3 1,273.6 1,591.7
46 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4 2,292.2
47 Issuers of asset-backed
securities (ABSs) 863.3 1,076.6 1,398.0 1,621.4
48 Brokers and dealers 27.3 35.3 42.5 25.3
49 Finance companies 529.8 554.5 597.5 659.9
50 Mortgage companies 20.6 16.0 17.7 17.8
51 Real estate investment
trusts (REITs) 56.5 96.1 158.8 165.1
52 Funding corporations 312.7 373.7 414.4 506.6
All sectors
53 Total credit market
debt, domestic and
foreign 19,807.2 21,296.7 23,437.6 25,675.5
54 Open market paper 803.0 979.4 1,172.6 1,402.4
55 U.S. government
securities 6,389.9 6,626.0 7,044.3 7,565.0
56 Municipal securities 1,296.0 1,367.5 1,464.3 1,532.5
57 Corporate and foreign
bonds 3,205.1 3,594.5 4,144.9 4,602.8
58 Bank loans n.e.c. 1,041.7 1,169.8 1,314.9 1,383.8
59 Other loans and
advances 998.0 1,101.0 1,259.6 1,422.1
60 Mortgages 4,861.9 5,194.4 5,705.3 6,340.7
61 Consumer credit 1,211.6 1,264.1 1,331.7 1,426.2
1999 2000
Transaction category or
sector Q4 Q1 Q2 Q3
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 17,399.6 17,629.0 17,807.7 18,008.0
By sector and instrument
2 Federal government 3,681.0 3,653.5 3,464.0 3,410.2
3 Treasury securities 3,652.8 3,625.8 3,435.7 3,382.6
4 Budget agency
securities and
mortgages 28.3 27.8 28.2 27.6
5 Nonfederal 13,718.5 13,975.5 14,343.8 14,597.8
By instrument
6 Commercial paper 230.3 260.8 296.8 307.0
7 Municipal securities
and loans 1,532.5 1,539.2 1,551.6 1,550.3
8 Corporate bonds 2,059.5 2,106.0 2,144.5 2,190.6
9 Bank loans n.e.c. 1,231.5 1,259.1 1,306.4 1,311.6
10 Other loans and
advances 974.6 1,020.1 1,049.5 1,052.2
11 Mortgages 6,264.0 6,374.3 6,541.0 6,690.9
12 Home 4,783.5 4,858.0 4,982.3 5,100.0
13 Multifamily
residential 352.6 360.3 372.6 379.9
14 Commercial 1,025.6 1,051.7 1,079.4 1,102.7
15 Farm 102.3 104.2 106.8 108.3
16 Consumer credit 1,426.2 1,416.0 1,454.0 1,495.3
By borrowing sector
17 Households 6,501.7 6,566.0 6,727.4 6,890.5
18 Nonfinancial business 5,964.7 6,152.2 6,350.7 6,444.3
19 Corporate 4,275.2 4,427.2 4,574.2 4,634.8
20 Nonfarm noncorporate 1,520.1 1,554.3 1,600.3 1,631.5
21 Farm 169.4 170.7 176.2 177.9
22 State and local 1,252.1 1,257.3 1,265.7 1,263.1
government
23 Foreign credit market
debt held in United
States 679.6 707.1 716.4 749.9
24 Commercial paper 89.2 101.6 101.2 109.8
25 Bonds 479.4 490.6 498.4 521.3
26 Bank loans n.e.c. 59.4 63.3 64.7 67.7
27 Other loans and advances 51.7 51.7 52.1 51.2
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 18,079.2 18,336.1 18,524.2 18,757.9
Financial sectors
29 Total credit market debt
owed by financial
sectors 7,596.3 7,734.2 7,955.4 8,148.7
By instrument
30 Federal government-
related 3,884.0 3,940.1 4,035.3 4,164.0
31 Government-sponsored
enterprise
securities 1,591.7 1,618.0 1,680.2 1,749.7
32 Mortgage pool
securities 2,292.2 2,322.1 2,355.2 2,414.3
33 Loans from U.S.
government .0 .0 .0 .0
34 Private 3,712.4 3,794.2 3,920.1 3,984.6
35 Open market paper 1,082.9 1,115.7 1,135.2 1,151.6
36 Corporate bonds 2,064.0 2,104.2 2,173.5 2,228.0
37 Bank loans n.e.c. 92.9 91.4 93.6 92.5
38 Other loans and
advances 395.8 404.4 436.9 430.2
39 Mortgages 76.7 78.5 81.0 82.5
By borrowing sector
40 Commercial banks 230.0 242.2 265.4 265.2
41 Bank holding companies 219.3 221.4 229.3 236.9
42 Savings institutions 260.4 266.9 280.7 276.0
43 Credit unions 3.4 2.6 2.9 3.1
44 Life insurance companies 3.2 3.0 2.7 2.7
45 Government-sponsored
enterprises 1,591.7 1,618.0 1,680.2 1,749.7
46 Federally related
mortgage pools 2,292.2 2,322.1 2,355.2 2,414.3
47 Issuers of asset-backed
securities (ABSs) 1,621.4 1,655.8 1,697.0 1,742.3
48 Brokers and dealers 25.3 36.4 36.2 42.6
49 Finance companies 659.9 670.7 712.7 716.5
50 Mortgage companies 17.8 17.1 17.8 17.7
51 Real estate investment
trusts (REITs) 165.1 167.9 170.4 169.8
52 Funding corporations 506.6 510.1 505.1 511.9
All sectors
53 Total credit market
debt, domestic and
foreign 25,675.5 26,070.3 26,479.6 26,906.6
54 Open market paper 1,402.4 1,478.1 1,533.3 1,568.3
55 U.S. government
securities 7,565.0 7,593.6 7,499.3 7,574.2
56 Municipal securities 1,532.5 1,539.2 1,551.6 1,550.3
57 Corporate and foreign
bonds 4,602.8 4,700.8 4,816.3 4,939.8
58 Bank loans n.e.c. 1,383.8 1,413.7 1,464.6 1,471.7
59 Other loans and
advances 1,422.1 1,476.2 1,538.5 1,533.6
60 Mortgages 6,340.7 6,452.7 6,622.0 6,773.4
61 Consumer credit 1,426.2 1,416.0 1,454.0 1,495.3
2000 2001
Transaction category or
sector Q4 Q1 Q2
Nonfinancial sectors
1 Total credit market debt
owed by domestic
nonfinancial sectors 18,287.7 18,529.3 18,716.5
By sector and instrument
2 Federal government 3,385.2 3,408.8 3,261.4
3 Treasury securities 3,357.8 3,382.1 3,234.4
4 Budget agency
securities and
mortgages 27.3 26.8 27.0
5 Nonfederal 14,902.6 15,120.5 15,455.1
By instrument
6 Commercial paper 278.4 253.2 223.3
7 Municipal securities
and loans 1,567.8 1,596.6 1,629.3
8 Corporate bonds 2,234.5 2,335.4 2,441.3
9 Bank loans n.e.c. 1,334.6 1,324.0 1,295.3
10 Other loans and
advances 1,089.9 1,096.0 1,119.5
11 Mortgages 6,831.0 6,956.7 7,165.3
12 Home 5,200.7 5,293.5 5,449.7
13 Multifamily
residential 390.3 400.4 414.5
14 Commercial 1,130.6 1,152.3 1,188.3
15 Farm 109.3 110.4 112.7
16 Consumer credit 1,566.5 1,558.6 1,581.1
By borrowing sector
17 Households 7,063.8 7,133.7 7,307.6
18 Nonfinancial business 6,559.4 6,680.2 6,810.2
19 Corporate 4,712.7 4,803.3 4,897.5
20 Nonfarm noncorporate 1,666.1 1,696.7 1,727.9
21 Farm 180.7 180.2 184.8
22 State and local
government 1,279.3 1,306.5 1,337.3
23 Foreign credit market
debt held in United
States 775.8 776.5 776.3
24 Commercial paper 120.9 112.8 110.1
25 Bonds 533.7 542.0 551.0
26 Bank loans n.e.c. 70.7 73.9 67.2
27 Other loans and advances 50.5 47.7 47.9
28 Total credit market debt
owed by nonfinancial
sectors, domestic and
foreign 19,063.5 19,305.8 19,492.8
Financial sectors
29 Total credit market debt
owed by financial
sectors 8,418.4 8,626.0 8,816.7
By instrument
30 Federal government-
related 4,317.4 4,425.6 4,593.4
31 Government-sponsored
enterprise
securities 1,825.8 1,891.4 1,957.6
32 Mortgage pool
securities 2,491.6 2,534.2 2,635.8
33 Loans from U.S.
government .0 .0 .0
34 Private 4,101.0 4,200.4 4,223.3
35 Open market paper 1,210.7 1,180.8 1,144.5
36 Corporate bonds 2,276.5 2,390.5 2,442.7
37 Bank loans n.e.c. 92.6 97.1 100.3
38 Other loans and
advances 438.3 450.9 450.7
39 Mortgages 82.9 81.1 85.1
By borrowing sector
40 Commercial banks 266.7 273.8 274.7
41 Bank holding companies 242.5 266.5 269.1
42 Savings institutions 287.7 295.1 294.5
43 Credit unions 3.4 3.2 3.5
44 Life insurance companies 2.5 1.9 1.9
45 Government-sponsored
enterprises 1,825.8 1,891.4 1,957.6
46 Federally related
mortgage pools 2,491.6 2,534.2 2,635.8
47 Issuers of asset-backed
securities (ABSs) 1,829.6 1,892.2 1,940.8
48 Brokers and dealers 40.9 35.0 43.9
49 Finance companies 734.6 721.4 727.1
50 Mortgage companies 17.9 18.1 18.2
51 Real estate investment
trusts (REITs) 167.8 166.2 166.8
52 Funding corporations 507.3 526.9 482.9
All sectors
53 Total credit market
debt, domestic and
foreign 27,481.9 27,931.7 28,309.5
54 Open market paper 1,610.0 1,546.8 1,477.9
55 U.S. government
securities 7,702.6 7,834.4 7,854.8
56 Municipal securities 1,567.8 1,596.6 1,629.3
57 Corporate and foreign
bonds 5,044.6 5,267.9 5,435.1
58 Bank loans n.e.c. 1,497.9 1,495.1 1,462.9
59 Other loans and
advances 1,578.6 1,594.6 1,618.1
60 Mortgages 6,913.9 7,037.8 7,250.4
61 Consumer credit 1,566.5 1,558.6 1,581.1
(1.) Data in this table appear in the Board's Z.1
(780) quarterly statistical release, tables L.2
through L.4. For ordering address, see inside
front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction category
or sector 1996 1997 1998 1999
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 19,807.2 21,296.7 23,437.6 25,675.5
2 Domestic nonfederal
nonfinancial
sectors 3,007.3 2,933.8 2,991.8 3,251.2
3 Household 2,082.5 2,018.6 1,941.8 2,151.6
4 Nonfinancial
corporate
business 270.2 257.5 241.5 238.7
5 Nonfarm noncorporate
business 49.7 52.7 69.1 78.0
6 State and local
governments 604.8 605.0 739.4 782.8
7 Federal government 200.2 205.4 219.1 258.0
8 Rest of the world 1,926.6 2,257.3 2,539.8 2,676.2
9 Financial sectors 14,673.2 15,900.1 17,686.8 19,490.2
10 Monetary authority 393.1 431.4 452.5 478.1
11 Commercial banking 3,707.7 4,031.9 4,335.7 4,643.9
12 U.S.-chartered
banks 3,175.8 3,450.7 3,761.2 4,078.9
13 Foreign banking
offices in
United States 475.8 516.1 504.2 484.1
14 Bank holding
companies 22.0 27.4 26.5 32.7
15 Banks in U.S.-
affiliated areas 34.1 37.8 43.8 48.3
16 Savings institutions 933.2 928.5 964.6 1,033.2
17 Credit unions 288.5 305.3 324.2 351.7
18 Bank personal trusts
and estates 232.0 207.0 194.1 222.0
19 Life insurance
companies 1,657.0 1,751.1 1,828.0 1,886.0
20 Other insurance
companies 491.2 515.3 521.1 518.2
21 Private pension
funds 627.0 674.6 731.0 775.9
22 State and local
government
retirement funds 565.4 632.5 704.6 751.4
23 Money market mutual
funds 634.3 721.9 965.9 1,147.8
24 Mutual funds 820.2 901.1 1,025.9 1,073.1
25 Closed-end funds 100.8 98.3 103.7 111.1
26 Government-sponsored
enterprises 832.8 939.4 1,253.9 1,545.6
27 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4 2,292.2
28 Asset-backed
securities (ABSs)
issuers 773.9 937.7 1,219.4 1,424.6
29 Finance companies 544.5 566.4 618.4 713.3
30 Mortgage companies 41.2 32.1 35.3 35.6
31 Real estate
investment trusts
(REITs) 30.4 50.6 45.5 42.9
32 Brokers and dealers 167.7 182.6 189.4 154.7
33 Funding corporations 121.0 166.7 155.3 288.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 19,807.2 21,296.7 23,437.6 25,675.5
Other liabilities
35 Official foreign
exchange 53.7 48.9 60.1 50.1
36 Special drawing rights
certificates 9.7 9.2 9.2 6.2
37 Treasury currency 18.9 19.3 19.9 20.9
38 Foreign deposits 521.7 618.5 642.3 703.6
39 Net interbank
liabilities 240.8 219.4 189.0 204.5
40 Checkable deposits and
currency 1,244.8 1,286.1 1,333.4 1,484.8
41 Small time and savings
deposits 2,377.0 2,474.1 2,626.5 2,671.2
42 Large time deposits 590.9 713.4 805.5 936.1
43 Money market fund
shares 886.7 1,042.5 1,329.7 1,578.8
44 Security repurchase
agreements 701.5 822.4 913.7 1,083.4
45 Mutual fund shares 2,342.4 2,989.4 3,610.5 4,553.4
46 Security credit 358.1 469.1 572.3 676.6
47 Life insurance
reserves 610.6 665.0 718.3 783.9
48 Pension fund reserves 6,325.1 7,323.4 8,193.7 9,041.7
49 Trade payables 1,827.6 1,967.3 2,076.5 2,298.8
50 Taxes payable 128.8 151.1 172.4 194.7
51 Investment in bank
personal trusts 871.3 942.5 1,001.0 1,130.4
52 Miscellaneous 6,386.0 6,727.4 7,475.3 8,040.5
53 Total liabilities 45,302.7 49,785.5 55,186.9 61,135.1
Financial assets not
included in
liabilities ( )
54 Gold and special
drawing rights 21.4 21.1 21.6 21.4
55 Corporate equities 10,255.8 13,202.0 15,492.5 19,494.5
56 Household equity in
noncorporate
business 3,787.8 4,053.2 4,398.7 4,649.9
Liabilities not
identified as
assets (-)
57 Treasury currency -6.1 -6.3 -6.4 -7.1
58 Foreign deposits 437.0 537.1 544.9 591.1
59 Net interbank
transactions -10.6 -32.2 -27.0 -25.5
60 Security repurchase
agreements 109.8 172.9 233.5 263.6
61 Taxes payable 81.9 104.2 122.9 122.7
62 Miscellaneous -1,241.1 -1,562.1 -2,307.3 -2,792.5
Floats not included in
assets (-)
63 Federal government
checkable deposits -1.6 -8.1 -3.9 -9.9
64 Other checkable
deposits 30.1 26.2 23.1 22.3
65 Trade credit 165.7 126.8 76.6 120.9
66 Totals identified to
sectors as assets 59,802.7 67,703.2 76,443.0 87,015.2
1999 2000
Transaction category
or sectoe Q4 Q1 Q2 Q3
CREDIT MARKET DEBT
OUTSTANDING (2)
1 Total credit market
assets 25,675.5 26,070.3 26,479.6 26,906.6
2 Domestic nonfederal
nonfinancial
sectors 3,251.2 3,170.5 3,184.6 3,125.5
3 Household 2,151.6 2,079.2 2,065.0 2,021.3
4 Nonfinancial
corporate
business 238.7 230.8 246.2 238.9
5 Nonfarm noncorporate
business 78.0 77.5 77.6 76.6
6 State and local
governments 782.8 782.9 795.8 788.7
7 Federal government 258.0 259.6 261.6 262.7
8 Rest of the world 2,676.2 2,760.7 2,809.9 2,861.7
9 Financial sectors 19,490.2 19,879.5 20,223.5 20,656.7
10 Monetary authority 478.1 501.9 505.1 511.5
11 Commercial banking 4,643.9 4,725.0 4,847.4 4,931.0
12 U.S.-chartered
banks 4,078.9 4,171.3 4,295.4 4,368.2
13 Foreign banking
offices in
United States 484.1 482.0 478.1 487.5
14 Bank holding
companies 32.7 22.1 23.0 21.3
15 Banks in U.S.-
affiliated areas 48.3 49.6 51.0 54.0
16 Savings institutions 1,033.2 1,045.8 1,062.5 1,082.2
17 Credit unions 351.7 359.0 370.1 376.0
18 Bank personal trusts
and estates 222.0 226.7 230.2 234.6
19 Life insurance
companies 1,886.0 1,902.2 1,914.1 1,935.1
20 Other insurance
companies 518.2 515.4 510.8 512.4
21 Private pension
funds 775.9 787.6 793.8 810.0
22 State and local
government
retirement funds 751.4 767.2 775.1 784.5
23 Money market mutual
funds 1,147.8 1,217.1 1,159.4 1,212.5
24 Mutual funds 1,073.1 1,053.7 1,073.9 1,088.5
25 Closed-end funds 111.1 109.0 106.9 104.8
26 Government-sponsored
enterprises 1,545.6 1,584.0 1,649.2 1,704.3
27 Federally related
mortgage pools 2,292.2 2,322.1 2,355.2 2,414.3
28 Asset-backed
securities (ABSs)
issuers 1,424.6 1,453.8 1,486.3 1,522.9
29 Finance companies 713.3 747.0 780.6 795.5
30 Mortgage companies 35.6 34.1 35.5 35.4
31 Real estate
investment trusts
(REITs) 42.9 38.8 38.2 37.3
32 Brokers and dealers 154.7 194.6 187.9 243.3
33 Funding corporations 288.8 294.5 341.3 320.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 25,675.5 26,070.3 26,479.6 26,906.6
Other liabilities
35 Official foreign
exchange 50.1 49.4 46.5 44.9
36 Special drawing rights
certificates 6.2 6.2 4.2 3.2
37 Treasury currency 20.9 21.4 22.1 23.2
38 Foreign deposits 703.6 781.9 782.8 772.6
39 Net interbank
liabilities 204.5 169.7 210.6 173.2
40 Checkable deposits and
currency 1,484.8 1,392.9 1,409.7 1,385.7
41 Small time and savings
deposits 2,671.2 2,728.0 2,738.8 2,790.9
42 Large time deposits 936.1 966.5 987.4 1,025.9
43 Money market fund
shares 1,578.8 1,666.0 1,627.1 1,697.8
44 Security repurchase
agreements 1,083.4 1,149.2 1,185.0 1,238.7
45 Mutual fund shares 4,553.4 4,863.3 4,759.6 4,814.4
46 Security credit 676.6 795.4 775.5 800.4
47 Life insurance
reserves 783.9 801.0 806.5 818.7
48 Pension fund reserves 9,041.7 9,237.9 9,166.7 9,307.9
49 Trade payables 2,298.8 2,321.7 2,366.9 2,412.0
50 Taxes payable 194.7 210.1 212.7 214.8
51 Investment in bank
personal trusts 1,130.4 1,158.0 1,114.4 1,106.7
52 Miscellaneous 8,040.5 8,258.1 8,539.8 8,998.1
53 Total liabilities 61,135.1 62,646.9 63,236.0 64,535.7
Financial assets not
included in
liabilities ( )
54 Gold and special
drawing rights 21.4 21.4 21.5 21.4
55 Corporate equities 19,494.5 20,147.0 19,180.8 18,991.5
56 Household equity in
noncorporate
business 4,649.9 4,675.4 4,772.2 4,815.5
Liabilities not
identified as
assets (-)
57 Treasury currency -7.1 -7.6 -7.9 -7.6
58 Foreign deposits 591.1 656.7 636.3 611.5
59 Net interbank
transactions -25.5 -13.9 -11.6 -17.6
60 Security repurchase
agreements 263.6 410.3 422.8 446.0
61 Taxes payable 122.7 118.6 135.8 124.4
62 Miscellaneous -2,792.5 -2,948.5 -3,009.7 -2,818.5
Floats not included in
assets (-)
63 Federal government
checkable deposits -9.9 -6.5 -5.2 -7.8
64 Other checkable
deposits 22.3 18.7 22.5 15.5
65 Trade credit 120.9 50.1 12.8 2.5
66 Totals identified to
sectors as assets 87,015.2 89,212.6 89,014.9 90,015.7
2000 2001
Transaction category
or sector Q4 Q1 Q2
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 27,481.9 27,931.7 28,309.5
2 Domestic nonfederal
nonfinancial
sectors 3,093.8 3,009.6 2,975.0
3 Household 1,977.3 1,907.4 1,887.4
4 Nonfinancial
corporate
business 248.5 235.1 225.1
5 Nonfarm noncorporate
business 75.9 74.7 73.4
6 State and local
governments 792.0 792.4 789.1
7 Federal government 265.4 266.6 268.9
8 Rest of the world 3,004.6 3,112.9 3,198.9
9 Financial sectors 21,118.1 21,542.6 21,866.6
10 Monetary authority 511.8 523.9 535.1
11 Commercial banking 5,002.3 5,015.7 5,050.6
12 U.S.-chartered
banks 4,418.7 4,424.4 4,463.2
13 Foreign banking
offices in
United States 508.1 515.0 510.7
14 Bank holding
companies 20.5 22.3 21.6
15 Banks in U.S.-
affiliated areas 55.0 54.1 55.1
16 Savings institutions 1,089.7 1,101.6 1,116.1
17 Credit unions 382.2 381.7 391.2
18 Bank personal trusts
and estates 239.1 241.8 245.1
19 Life insurance
companies 1,943.9 1,967.2 1,991.0
20 Other insurance
companies 509.4 510.0 510.7
21 Private pension
funds 817.2 823.7 828.8
22 State and local
government
retirement funds 801.0 804.3 808.8
23 Money market mutual
funds 1,296.7 1,403.8 1,414.6
24 Mutual funds 1,099.9 1,113.8 1,151.5
25 Closed-end funds 102.7 100.6 98.5
26 Government-sponsored
enterprises 1,793.7 1,866.5 1,944.5
27 Federally related
mortgage pools 2,491.6 2,534.2 2,635.8
28 Asset-backed
securities (ABSs)
issuers 1,602.9 1,660.5 1,706.0
29 Finance companies 812.6 809.4 829.6
30 Mortgage companies 35.9 36.2 36.5
31 Real estate
investment trusts
(REITs) 36.6 37.6 37.9
32 Brokers and dealers 223.6 317.7 288.4
33 Funding corporations 325.4 292.3 246.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 27,481.9 27,931.7 28,309.5
Other liabilities
35 Official foreign
exchange 46.0 43.3 41.7
36 Special drawing rights
certificates 2.2 2.2 2.2
37 Treasury currency 23.2 22.9 23.2
38 Foreign deposits 824.5 883.4 846.8
39 Net interbank
liabilities 188.0 116.0 163.4
40 Checkable deposits and
currency 1,413.3 1,385.2 1,416.8
41 Small time and savings
deposits 2,861.9 2,965.3 2,992.0
42 Large time deposits 1,054.5 1,078.0 1,090.6
43 Money market fund
shares 1,812.1 1,994.7 2,014.8
44 Security repurchase
agreements 1,194.3 1,206.0 1,241.1
45 Mutual fund shares 4,457.2 3,999.8 4,269.9
46 Security credit 817.6 799.4 781.8
47 Life insurance
reserves 819.1 823.0 844.6
48 Pension fund reserves 9,054.8 8,603.5 8,885.5
49 Trade payables 2,455.2 2,425.2 2,418.3
50 Taxes payable 216.4 224.2 219.8
51 Investment in bank
personal trusts 1,019.4 929.1 964.4
52 Miscellaneous 8,845.1 9,253.4 9,506.9
53 Total liabilities 64,586.8 64,686.3 66,033.3
Financial assets not
included in
liabilities ( )
54 Gold and special
drawing rights 21.5 21.5 21.6
55 Corporate equities 17,068.8 14,920.9 15,863.6
56 Household equity in
noncorporate
business 4,884.7 4,929.1 4,941.8
Liabilities not
identified as
assets (-)
57 Treasury currency -8.5 -9.4 -9.4
58 Foreign deposits 659.9 704.4 677.4
59 Net interbank
transactions -4.3 1.7 5.3
60 Security repurchase
agreements 374.4 357.6 387.5
61 Taxes payable 128.5 112.7 129.0
62 Miscellaneous -3,371.8 -3,314.7 -3,222.6
Floats not included in
assets (-)
63 Federal government
checkable deposits -2.6 -21.9 -40.6
64 Other checkable
deposits 24.0 21.1 25.5
65 Trade credit 88.7 42.1 16.0
66 Totals identified to
sectors as assets 88,673.3 86,664.0 88,892.3
(1.) Data in this table also appear in the Board's Z.1 (780)
quarterly statistical release, tables L.1 and L.5.
For ordering address, see inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
2.10 NONFINANCIAL BUSINESS ACTIVITY Selected Measures
Monthly data seasonally adjusted, and indexes 1992=100,
except as noted
2001
Measure 1998 1999 2000 Jan.
1 Industrial
production (1) 134.0 139.6 147.5 146.0
Market groups
2 Products, total 127.2 131.2 136.2 135.0
3 Final, total 129.3 133.3 138.8 137.8
4 Consumer goods 118.4 120.8 123.0 121.8
5 Equipment 147.1 153.8 166.1 168.0
6 Intermediate 121.0 125.1 128.7 126.7
7 Materials 145.7 154.5 167.8 165.9
Industry groups
8 Manufacturing 138.2 144.8 153.6 151.3
9 Capacity
utilization,
manufacturing
(percent) (2) 81.3 80.5 81.3 78.4
10 Construction
contracts (3) 104.4 (r) 114.9 (r) 129.5 (r) 139.0 (r)
11 Nonagricultural
employment,
total (4) 115.9 118.6 121.0 122.0
12 Goods-producing,
total 109.4 109.7 110.5 110.3
13 Manufacturing,
total 103.9 102.4 101.8 100.8
14 Manufacturing,
production
workers 105.4 103.7 102.9 100.9
15 Service-producing 117.7 121.0 123.9 125.1
16 Personal income,
total 137.8 144.3 154.3 159.6
17 Wages and salary
disbursements 140.6 149.9 162.2 168.4
18 Manufacturing 129.7 134.0 142.3 146.1
19 Disposable perso-
nal income (5) 133.7 139.2 147.9 152.8
20 Retail sales (5) 142.8 155.1 167.0 170.1
Prices (6)
21 Consumer
(1982-84=100) 163.0 166.6 172.2 175.1
22 Producer finished
goods (1982=100) 130.7 133.0 138.0 141.2
2001
Measure Feb. Mar. Apr. May
1 Industrial
production (1) 145.4 145.0 144.6 144.2
Market groups
2 Products, total 134.6 134.5 133.8 133.7
3 Final, total 137.7 137.9 137.2 136.9
4 Consumer goods 122.3 122.4 122.1 122.2
5 Equipment 166.2 166.8 165.3 164.1
6 Intermediate 125.5 124.4 123.7 124.0
7 Materials 165.0 163.9 164.1 163.3
Industry groups
8 Manufacturing 150.7 150.0 149.6 149.2
9 Capacity
utilization,
manufacturing
(percent) (2) 77.9 77.3 76.9 76.6
10 Construction
contracts (3) 143.0 (r) 139.0 (r) 131.0 (r) 136.0 (r)
11 Nonagricultural
employment,
total (4) 122.1 122.2 122.0 122.0
12 Goods-producing,
total 110.3 110.2 109.4 109.0
13 Manufacturing,
total 100.5 100.1 99.5 98.7
14 Manufacturing,
production
workers 100.3 99.7 99.0 98.2
15 Service-producing 125.3 125.4 125.4 125.6
16 Personal income,
total 160.3 161.0 161.3 161.6
17 Wages and salary
disbursements 169.4 170.1 170.8 170.7
18 Manufacturing 146.3 146.3 146.8 145.4
19 Disposable perso-
nal income (5) 153.4 154.1 154.5 154.8
20 Retail sales (5) 170.4 169.6 172.2 172.4
Prices (6)
21 Consumer
(1982-84=100) 175.8 176.2 176.9 177.7
22 Producer finished
goods (1982=100) 141.4 140.9 141.8 142.7 (r)
2001
Measure June July Aug. Sept. (p)
1 Industrial
production (1) 142.8 (r) 142.7 (r) 141.8 140.3
Market groups
2 Products, total 132.4 (r) 132.5 (r) 131.3 129.9
3 Final, total 135.4 (r) 135.6 (r) 134.3 132.8
4 Consumer goods 121.6 121.9 (r) 120.9 120.1
5 Equipment 160.6 (r) 160.4 (r) 158.6 155.5
6 Intermediate 123.4 (r) 123.1 (r) 122.4 121.0
7 Materials 161.4 (r) 161.1 (r) 160.5 159.2
Industry groups
8 Manufacturing 147.5 (r) 147.6 (r) 146.3 144.7
9 Capacity
utilization,
manufacturing
(percent) (2) 75.6 75.5 74.8 73.8
10 Construction
contracts (3) 133.0 (r) 136.0 (r) 132.0 142.0
11 Nonagricultural
employment,
total (4) 122.0 122.0 121.9 121.7
12 Goods-producing,
total 108.4 108.1 107.5 107.1
13 Manufacturing,
total 98.1 97.7 96.9 96.4
14 Manufacturing,
production
workers 97.3 96.8 95.9 95.2
15 Service-producing 125.6 125.7 125.8 125.7
16 Personal income,
total 162.1 162.9 162.9 n.a.
17 Wages and salary
disbursements 171.5 172.1 171.9 n.a.
18 Manufacturing 144.9 145.4 144.7 n.a.
19 Disposable perso-
nal income (5) 155.2 158.0 160.9 n.a.
20 Retail sales (5) 172.3 172.6 (r) 173.2 169.6
Prices (6)
21 Consumer
(1982-84=100) 178.0 177.5 177.5 178.3
22 Producer finished
goods (1982=100) 142.1 140.7 141.1 141.7
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in December 2000. The recent
annual revision is described in an article in the March 2001 issue of
the Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Ratio of index of production to index of capacity. Based on data
from the Federal Reserve, U.S. Department of Commerce, and other
sources.
(3.) Index of dollar value of total construction contracts, including
residential, nonresidential, and heavy engineering, from McGraw-Hill
Information Systems Company, F.W. Dodge Division.
(4.) Based on data from the U.S. Department of Labor, Employment and
Earnings. Series covers employees only, excluding personnel in the
armed forces.
(5.) Based on data from U.S. Department of Commerce, Survey of Current
Business.
(6.) Based on data not seasonally adjusted. Seasonally adjusted data
for changes in the price indexes can be obtained from the U.S.
Department of Labor, Bureau of Labor Statistics, Monthly Labor Review.
NOTE. Basic data (not indexes) for series mentioned in notes 4 and 5,
and indexes for series mentioned in notes 3 and 6, can also be found in
the Survey of Current Business.
2.11 LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Thousands of persons; monthly data seasonally adjusted
Category 1998 1999 2000
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 137,673 139,368 140,863
Employment
2 Nonagricultural
industries (3) 128,085 130,207 131,903
3 Agriculture 3,378 3,281 3,305
Unemployment
4 Number 6,210 5,880 5,655
5 Rate (percent of civilian
labor force) 4.5 4.2 4.0
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 125,865 128,786 131,417
7 Manufacturing 18,805 18,543 18,437
8 Mining 590 535 538
9 Contract construction 6,020 6,404 6,687
10 Transportation and public
utilities 6,611 6,826 6,993
11 Trade 29,095 29,712 30,191
12 Finance 7,389 7,569 7,618
13 Service 37,533 39,027 40,384
14 Government 19,823 20,170 20,570
2001
Category Feb. Mar. Apr.
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,751 141,868 141,757
Employment
2 Nonagricultural
industries (3) 132,680 132,618 132,162
3 Agriculture 3,135 3,161 3,192
Unemployment
4 Number 5,936 6,088 6,402
5 Rate (percent of civilian
labor force) 4.2 4.3 4.5
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,595 132,654 132,489
7 Manufacturing 18,192 18,116 18,009
8 Mining 555 557 560
9 Contract construction 6,880 6,929 6,852
10 Transportation and public
utilities 7,123 7,127 7,119
11 Trade 30,536 30,523 30,583
12 Finance 7,609 7,618 7,626
13 Service 41,020 41,073 40,993
14 Government 20,680 20,711 20,747
2001
Category May June July (r)
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,272 141,354 141,774
Employment
2 Nonagricultural
industries (3) 131,910 131,937 132,334
3 Agriculture 3,193 2,995 3,045
Unemployment
4 Number 6,169 6,422 6,395
5 Rate (percent of civilian
labor force) 4.4 4.5 4.5
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,530 132,431 132,449
7 Manufacturing 17,879 17,757 17,688
8 Mining 564 565 567
9 Contract construction 6,881 6,864 6,867
10 Transportation and public
utilities 7,130 7,118 7,108
11 Trade 30,584 30,583 30,623
12 Finance 7,644 7,631 7,618
13 Service 41,078 41,085 41,046
14 Government 20,770 20,828 20,932
2001
Category Aug. Sept. (p)
HOUSEHOLD SURVEY DATA (1)
1 Civilian labor force (2) 141,350 142,190
Employment
2 Nonagricultural
industries (3) 131,276 131,961
3 Agriculture 3,117 3,220
Unemployment
4 Number 6,957 7,009
5 Rate (percent of civilian
labor force) 4.9 4.9
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment (4) 132,365 132,166
7 Manufacturing 17,542 17,449
8 Mining 569 569
9 Contract construction 6,863 6,859
10 Transportation and public
utilities 7,076 7,069
11 Trade 30,585 30,520
12 Finance 7,621 7,635
13 Service 41,117 41,076
14 Government 20,992 20,989
(1.) Beginning January 1994, reflects redesign of current population
survey and population controls from the 1990 census.
(2.) Persons sixteen years of age and older, including Resident Armed
Forces. Monthly figures are based on sample data collected during the
calendar week that contains the twelfth day; annual data are averages
of monthly figures. By definition, seasonality does not exist in
population figures.
(3.) Includes self-employed, unpaid family, and domestic service
workers.
(4.) Includes all full- and part-time employees who worked during, or
received pay for, the pay period that includes the twelfth day of the
month; excludes proprietors, self-employed persons, household and
unpaid family workers, and members of the armed forces. Data are
adjusted to the March 1992 benchmark, and only seasonally adjusted
data are available at this time.
SOURCE. Based on data from U.S. Department of Labor, Employment and
Earnings.
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION (1)
Seasonally adjusted
2000 2001
Series Q4 Q1 Q2 (r) Q3
Output (1992=100)
1 Total industry 148.1 145.5 143.9 141.6
2 Manufacturing 153.8 150.7 148.7 146.2
3 Primary processing (3) 178.7 172.6 170.3 167.5
4 Advanced processing (4) 140.2 138.5 136.8 134.4
5 Durable goods 196.5 191.6 189.1 185.3
6 Lumber and products 113.2 109.6 112.9 115.1
7 Primary metals 127.5 121.1 122.2 120.1
8 Iron and steel 121.5 114.9 120.9 119.8
9 Nonferrous 134.7 128.3 124.0 120.7
10 Industrial machinery
and equipment 261.9 256.3 245.7 235.6
11 Electrical machinery 604.0 593.0 562.6 535.8
12 Motor vehicles and
parts 159.7 147.5 159.7 163.0
13 Aerospace and
miscellaneous
transportation
equipment 94.8 94.1 93.2 91.6
14 Nondurable goods 115.3 113.6 112.2 110.6
15 Textile mill products 94.7 92.7 88.6 85.3
16 Paper and products 114.9 110.8 111.1 109.0
17 Chemicals and
products 124.5 121.9 119.9 119.2
18 Plastics materials 131.0 130.9 132.4 139.9
19 Petroleum products 116.0 115.5 116.5 114.0
20 Mining 100.3 101.7 103.6 102.2
21 Utilities 123.7 122.6 120.1 119.8
22 Electric 127.5 125.4 125.5 124.2
2000 2001
Series Q4 Q1 Q2 Q3
Capacity (percent of
1992 output)
1 Total industry 182.1 183.7 184.9 185.7
2 Manufacturing 191.5 193.5 194.8 195.7
3 Primary processing (3) 216.0 220.0 222.4 223.8
4 Advanced processing (4) 176.2 177.2 178.0 178.7
5 Durable goods 243.6 248.1 251.2 253.4
6 Lumber and products 148.4 148.7 149.0 149.1
7 Primary metals 153.5 153.5 153.5 153.3
8 Iron and steel 153.6 153.6 153.2 152.6
9 Nonferrous 153.4 153.5 153.8 154.2
10 Industrial machinery
and equipment 317.3 322.5 326.5 330.0
11 Electrical machinery 694.1 741.7 773.0 793.0
12 Motor vehicles and
parts 210.1 210.9 211.7 212.4
13 Aerospace and
miscellaneous
transportation
equipment 130.2 130.0 130.1 130.3
14 Nondurable goods 144.6 144.7 144.6 144.6
15 Textile mill products 122.8 122.0 120.9 119.7
16 Paper and products 137.9 138.3 138.6 138.9
17 Chemicals and
products 164.8 165.0 165.0 164.9
18 Plastics materials 152.3 152.7 153.2 153.7
19 Petroleum products 123.1 123.1 123.3 123.5
20 Mining 115.8 115.3 114.9 114.6
21 Utilities 134.5 135.7 137.0 138.5
22 Electric 133.8 135.3 136.8 138.3
2000 2001
Series Q4 Q1 Q2 (r) Q3
Capacity utilization
rate (percent) (2)
1 Total industry 81.3 79.2 77.8 76.3
2 Manufacturing 80.3 77.9 76.4 74.7
3 Primary processing (3) 82.7 78.4 76.6 74.8
4 Advanced processing (4) 79.5 78.2 76.9 75.2
5 Durable goods 80.7 77.2 75.3 73.1
6 Lumber and products 76.3 73.7 75.8 77.2
7 Primary metals 83.1 78.8 79.6 78.3
8 Iron and steel 79.1 74.8 78.9 78.5
9 Nonferrous 87.8 83.6 80.7 78.3
10 Industrial machinery
and equipment 82.5 79.5 75.3 71.4
11 Electrical machinery 87.1 80.0 72.8 67.6
12 Motor vehicles and
parts 76.0 69.9 75.4 76.8
13 Aerospace and
miscellaneous
transportation
equipment 72.8 72.3 71.7 70.3
14 Nondurable goods 79.7 78.5 77.6 76.5
15 Textile mill products 77.1 76.0 73.3 71.3
16 Paper and products 83.3 80.1 80.2 78.5
17 Chemicals and
products 75.5 73.8 72.7 72.3
18 Plastics materials 86.0 85.7 86.5 91.0
19 Petroleum products 94.3 93.8 94.5 92.3
20 Mining 86.6 88.2 90.1 89.2
21 Utilities 92.0 90.4 87.7 86.5
22 Electric 95.3 92.7 91.8 89.8
Previous
1973 1975 cycle (5)
Series High Low High Low
Capacity utilization rate
(percent) (2)
1 Total industry 89.2 72.6 87.3 71.1
2 Manufacturing 88.5 70.5 86.9 69.0
3 Primary processing (3) 91.2 68.2 88.1 66.2
4 Advanced processing (4) 87.2 71.8 86.7 70.4
5 Durable goods 89.2 68.9 87.7 63.9
6 Lumber and products 88.7 61.2 87.9 60.8
7 Primary metals 100.2 65.9 94.2 45.1
8 Iron and steel 105.8 66.6 95.8 37.0
9 Nonferrous 90.8 59.8 91.1 60.1
10 Industrial machinery
and equipment 96.0 74.3 93.2 64.0
11 Electrical machinery 89.2 64.7 89.4 71.6
12 Motor vehicles and
parts 93.4 51.3 95.0 45.5
13 Aerospace and
miscellaneous
transportation
equipment 78.4 67.6 81.9 66.6
14 Nondurable goods 87.8 71.7 87.5 76.4
15 Textile mill products 91.4 60.0 91.2 72.3
16 Paper and products 97.1 69.2 96.1 80.6
17 Chemicals and
products 87.6 69.7 84.6 69.9
18 Plastics materials 102.0 50.6 90.9 63.4
19 Petroleum products 96.7 81.1 90.0 66.8
20 Mining 94.3 88.2 96.0 80.3
21 Utilities 96.2 82.9 89.1 75.9
22 Electric 99.0 82.7 88.2 78.9
Latest
cycle (6) 2000 2001
Series High Low Sept. Apr. May
Capacity utilization rate
(percent) (2)
1 Total industry 85.4 78.1 82.4 78.4 78.0
2 Manufacturing 85.7 76.6 81.7 76.9 76.6
3 Primary processing (3) 88.9 77.7 85.2 77.2 76.7
4 Advanced processing (4) 84.2 76.1 80.2 77.4 77.2
5 Durable goods 84.6 73.1 82.7 76.0 75.7
6 Lumber and products 93.6 75.5 78.9 74.5 76.5
7 Primary metals 92.7 73.7 87.3 79.7 79.8
8 Iron and steel 95.2 71.8 86.0 77.2 79.6
9 Nonferrous 89.3 74.2 89.0 82.8 80.3
10 Industrial machinery
and equipment 85.4 72.3 83.1 77.2 75.4
11 Electrical machinery 84.0 75.0 90.2 74.5 73.1
12 Motor vehicles and
parts 89.1 55.9 83.8 73.5 77.0
13 Aerospace and
miscellaneous
transportation
equipment 87.3 79.2 70.7 72.3 71.7
14 Nondurable goods 87.3 80.7 80.3 78.0 77.6
15 Textile mill products 90.4 77.7 79.9 74.8 72.3
16 Paper and products 93.5 85.0 82.6 82.1 80.0
17 Chemicals and
products 86.2 79.3 76.3 72.8 72.8
18 Plastics materials 97.0 74.8 89.8 82.7 84.2
19 Petroleum products 88.5 85.1 95.4 94.7 94.3
20 Mining 88.0 87.0 86.4 90.0 90.3
21 Utilities 92.6 83.4 91.0 88.5 87.2
22 Electric 95.0 87.1 93.9 93.4 91.4
2001
Sept.
Series June (r) July (r) Aug. (r) (p)
Capacity utilization rate (percent) (2)
1 Total industry 77.1 77.0 76.4 75.5
2 Manufacturing 75.6 75.5 74.8 73.8
3 Primary processing (3) 75.8 75.6 74.8 74.0
4 Advanced processing (4) 76.1 76.0 75.3 74.3
5 Durable goods 74.2 74.2 73.3 71.8
6 Lumber and products 76.4 76.9 77.0 77.6
7 Primary metals 79.4 79.8 78.7 76.5
8 Iron and steel 79.9 80.5 78.9 76.1
9 Nonferrous 78.9 79.1 78.6 77.1
10 Industrial machinery
and equipment 73.2 72.5 72.0 69.7
11 Electrical machinery 70.7 68.6 67.9 66.2
12 Motor vehicles and
parts 75.8 79.4 76.9 74.0
13 Aerospace and
miscellaneous
transportation
equipment 71.0 71.0 70.2 69.7
14 Nondurable goods 77.1 77.0 76.4 76.2
15 Textile mill products 72.8 70.2 72.0 71.6
16 Paper and products 78.4 79.1 78.1 78.3
17 Chemicals and
products 72.4 72.5 72.2 72.2
18 Plastics materials 92.5 93.5 89.4 90.2
19 Petroleum products 94.6 93.7 92.0 91.2
20 Mining 90.0 89.2 89.0 89.3
21 Utilities 87.2 86.3 87.6 85.7
22 Electric 90.6 89.4 91.4 88.6
(1.) Data in this table also appear in the Board's G.17 (419 monthly
statistical release. The data are also available on the Board's
web site, http://www.federalreserve.gov/releases/g17. The latest
historical revision of the industrial production index and the
capacity utilization rates was released in December 2000. The recent
annual revision is described in an article in the March 2001 issue
of the Bulletin. For a description of the methods of estimating
industrial production and capacity utilization, see "Industrial
Production and Capacity Utilization: Historical Revision and Recent
Developments," Federal Reserve Bulletin, vol. 83 (February 1997),
pp. 67-92, and the references cited therein. For details about the
construction of individual industrial production series, see
"Industrial Production: 1989 Developments and Historical Revision,"
Federal Reserve Bulletin, vol. 76 (April 1990), pp. 187-204.
(2.) Capacity utilization is calculated as the ratio of the Federal
Reserve's seasonally adjusted index of industrial production to the
corresponding index of capacity.
(3.) Primary processing includes textiles; lumber; paper;
industrial chemicals; synthetic materials; fertilizer materials;
petroleum products; rubber and plastics; stone, clay, and glass;
primary metals; and fabricated metals.
(4.) Advanced processing includes foods, tobacco, apparel, furniture
and fixtures, printing and publishing, chemical products such as
drugs and toiletries, agricultural chemicals, leather and products,
machinery, transportation equipment, instruments, and miscellaneous
manufacturing.
(5.) Monthly highs, 1978-80; monthly lows, 1982.
(6.) Monthly highs, 1988-89; monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
2000
1992
SIC pro- 2000
Group code por- avg. Sept.
(2) tion
Index
(1992=
100)
MAJOR MARKETS
1 Total index 100.0 147.5 149.0
2 Products 60.5 136.2 136.7
3 Final products 46.3 138.8 139.3
4 Consumer goods,
total 29.1 123.0 123.8
5 Durable
consumer
goods 6.1 160.8 162.8
6 Automotive
products 2.6 153.2 156.7
7 Autos and
trucks 1.7 166.9 172.7
8 Autos,
consumer .9 114.0 120.5
9 Trucks,
consumer .7 221.6 227.1
10 Auto parts
and allied
goods .9 131.7 132.1
11 Other 3.5 167.1 167.7
12 Appliances,
tele-
visions,
and air
condi-
tioners 1.0 332.6 340.5
13 Carpeting and
furniture .8 129.7 131.9
14 Miscellaneous
home goods 1.6 120.4 118.1
15 Nondurable
consumer
goods 23.0 114.2 114.7
16 Foods and
tobacco 10.3 110.7 110.5
17 Clothing 2.4 85.0 83.1
18 Chemical
products 4.5 137.0 138.4
19 Paper products 2.9 111.1 112.4
20 Energy 2.9 116.3 118.4
21 Fuels .8 113.0 115.8
22 Residential
utilities 2.1 117.9 119.1
23 Equipment 17.2 166.1 168.3
24 Business equipment 13.2 194.2 199.5
25 Information
processing 5.4 312.2 327.2
26 Computer and
office
equipment 1.1 1,157.6 1,264.1
27 Industrial 4.0 144.6 146.5
28 Transit 2.5 127.7 127.7
29 Autos and
trucks 1.2 145.6 144.2
30 Other 1.3 145.7 149.3
31 Defense and space
equipment 3.3 76.2 73.7
32 Oil and gas well
drilling .6 131.8 132.8
33 Manufactured homes .2 116.2 109.3
34 Intermediate
products, total 14.2 128.7 128.6
35 Construction
supplies 5.3 143.2 143.1
36 Business supplies 8.9 120.1 120.0
37 Materials 39.5 167.8 171.3
38 Durable goods
materials 20.8 227.6 235.7
39 Durable consumer
parts 4.0 165.3 169.0
40 Equipment parts 7.6 478.3 512.1
41 Other 9.2 134.6 135.5
42 Basic metal
materials 3.1 128.7 129.2
43 Nondurable goods
materials 8.9 113.8 112.7
44 Textile materials 1.1 97.9 95.9
45 Paper materials 1.8 115.8 113.8
46 Chemical materials 3.9 117.0 116.3
47 Other 2.1 113.0 112.0
48 Energy materials 9.7 103.4 104.3
49 Primary energy 6.3 98.1 98.5
50 Converted fuel
materials 3.3 114.3 116.6
SPECIAL AGGREGATES
51 Total excluding autos
and trucks 97.1 147.2 148.7
52 Total excluding motor
vehicles and parts 95.1 146.3 147.7
53 Total excluding
computer and office
equipment 98.2 140.4 141.6
54 Consumer goods
excluding autos and
trucks 27.4 120.6 121.2
55 Consumer goods
excluding energy 26.2 123.9 124.4
56 Business equipment
excluding autos and
trucks 12.0 200.1 206.3
57 Business equipment
excluding computer
and office equipment 12.1 158.4 161.2
58 Materials excluding
energy 29.8 188.5 193.0
MAJOR INDUSTRIES
59 Total index ... 100.0 147.5 149.0
60 Manufacturing ... 85.4 153.6 155.1
61 Primary processing ... 26.5 178.0 181.2
62 Advanced processing ... 58.9 139.3 140.8
63 Durable goods ... 45.0 193.4 198.4
64 Lumber and products 24 2.0 118.3 116.8
65 Furniture and
fixtures 25 1.4 142.9 146.6
66 Stone, clay, and
glass products 32 2.1 134.7 136.5
67 Primary metals 33 3.1 133.7 133.9
68 Iron and steel 331,2 1.7 131.1 131.9
69 Raw steel 331PT .1 120.9 117.7
70 Nonferrous 333-6,9 1.4 136.8 136.5
71 Fabricated metal
products 34 5.0 135.6 136.0
72 Industrial
machinery and
equipment 35 8.0 252.8 260.0
73 Computer and office
equipment 357 1.8 1,343.6 1,464.2
74 Electrical
machinery 36 7.3 549.7 592.2
75 Transportation
equipment 37 9.5 131.0 132.4
76 Motor vehicles
and parts 371 4.9 170.5 175.5
77 Autos and light
trucks 371PT 2.6 153.0 158.8
78 Aerospace and
miscellaneous
transportation
equipment 372-6,9 4.6 93.8 92.1
79 Instruments 38 5.4 122.2 123.7
80 Miscellaneous 39 1.3 130.8 130.9
81 Nondurable goods ... 40.4 116.9 116.0
82 Foods 20 9.4 114.7 114.6
83 Tobacco products 21 1.6 95.3 94.5
84 Textile mill
products 22 1.8 100.1 98.4
85 Apparel products 23 2.2 91.7 89.5
86 Paper and products 26 3.6 116.1 113.7
87 Printing and
publishing 27 6.7 109.9 110.9
88 Chemicals and
products 28 9.9 128.3 125.4
89 Petroleum products 29 1.4 117.1 117.4
90 Rubber and plastics 30 3.5 142.3 141.9
91 Leather and
products 31 .3 69.8 69.8
92 Mining ... 6.9 100.0 100.4
93 Metal 10 .5 97.4 99.3
94 Coal 12 1.0 108.9 107.0
95 Oil and gas
extraction 13 4.8 95.0 95.7
96 Stone and earth
minerals 14 .6 126.4 123.7
97 Utilities 7.7 120.4 121.7
98 Electric 491,3PT 6.2 123.9 124.7
99 Gas 491,2PT 1.6 109.3 110.5
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and
parts ... 80.5 152.6 153.9
101 Manufacturing excluding
computers and office
equipment ... 83.6 145.4 146.5
102 Computers,
communications
equipment, and
semiconductors ... 5.9 1,195.2 1,310.3
103 Manufacturing excluding
computers and
semiconductors ... 81.1 128.3 128.4
104 Manufacturing excluding
computers,
communications
equipment, and
semiconductors ... 79.5 125.1 125.0
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total ... 2,001.9 2,860.5 2,889.1
106 Final 1,552.1 2,203.4 2,228.1
107 Consumer goods 1,049.6 1,340.0 1,353.7
108 Equipment ... 502.5 865.7 883.3
109 Intermediate ... 449.9 656.7 660.2
2000 2001
Group Oct. Nov. Dec. Jan.
Index (1992=100)
MAJOR MARKETS
1 Total index 148.7 148.2 147.3 146.0
2 Products 136.3 136.3 136.0 135.0
3 Final products 138.8 138.8 139.0 137.8
4 Consumer goods,
total 122.7 122.4 123.1 121.8
5 Durable
consumer
goods 157.3 154.3 153.4 148.9
6 Automotive
products 148.0 143.6 140.7 133.8
7 Autos and
trucks 159.1 153.0 144.1 136.2
8 Autos,
consumer 107.8 103.0 94.3 99.4
9 Trucks,
consumer 212.0 204.3 194.7 175.5
10 Auto parts
and allied
goods 130.2 128.2 133.8 128.4
11 Other 165.4 163.7 164.7 162.7
12 Appliances,
tele-
visions,
and air
condi-
tioners 332.5 332.7 341.7 332.0
13 Carpeting and
furniture 129.8 125.4 127.4 123.9
14 Miscellaneous
home goods 117.5 117.1 115.5 116.5
15 Nondurable
consumer
goods 114.5 114.6 115.7 114.9
16 Foods and
tobacco 110.4 110.7 110.1 110.3
17 Clothing 82.7 83.2 82.4 82.6
18 Chemical
products 139.0 138.5 139.0 139.1
19 Paper products 113.8 112.5 112.2 113.7
20 Energy 115.5 117.3 126.1 119.0
21 Fuels 113.0 115.5 112.3 112.0
22 Residential
utilities 116.2 117.6 134.5 122.8
23 Equipment 169.1 169.9 168.9 168.0
24 Business equipment 200.0 200.6 199.2 197.4
25 Information
processing 332.3 336.7 335.9 337.4
26 Computer and
office
equipment 1,286.4 1,305.0 1,318.3 1,310.6
27 Industrial 146.9 147.4 145.8 145.7
28 Transit 121.6 121.8 117.4 111.7
29 Autos and
trucks 131.4 130.4 122.0 115.6
30 Other 154.2 148.6 153.5 149.3
31 Defense and space
equipment 75.3 77.0 77.5 78.5
32 Oil and gas well
drilling 136.5 138.9 139.1 146.7
33 Manufactured homes 98.8 90.9 83.5 73.5
34 Intermediate
products, total 128.7 128.5 126.8 126.7
35 Construction
supplies 142.3 141.6 140.6 140.7
36 Business supplies 120.7 120.7 118.5 118.4
37 Materials 171.1 169.9 167.8 165.9
38 Durable goods
materials 235.0 232.9 230.3 226.6
39 Durable consumer
parts 168.5 161.8 157.6 146.1
40 Equipment parts 515.9 521.4 522.3 517.5
41 Other 133.7 131.8 129.6 130.1
42 Basic metal
materials 125.9 124.4 123.6 121.2
43 Nondurable goods
materials 113.4 110.7 108.6 107.5
44 Textile materials 94.0 89.5 90.3 91.0
45 Paper materials 117.2 113.4 109.4 110.3
46 Chemical materials 115.9 113.7 109.8 108.5
47 Other 114.0 111.9 113.9 111.0
48 Energy materials 103.9 105.4 104.5 104.4
49 Primary energy 97.8 99.3 98.6 100.3
50 Converted fuel
materials 117.2 118.7 117.3 111.8
SPECIAL AGGREGATES
51 Total excluding autos
and trucks 148.8 148.4 147.8 146.6
52 Total excluding motor
vehicles and parts 147.8 147.7 147.2 146.5
53 Total excluding
computer and office
equipment 141.2 140.8 139.9 138.6
54 Consumer goods
excluding autos and
trucks 120.7 120.6 121.9 120.8
55 Consumer goods
excluding energy 123.6 122.9 122.5 122.0
56 Business equipment
excluding autos and
trucks 208.5 209.4 208.9 207.7
57 Business equipment
excluding computer
and office equipment 161.2 161.5 159.9 158.4
58 Materials excluding
energy 192.8 190.4 187.8 185.1
MAJOR INDUSTRIES
59 Total index 148.7 148.2 147.3 146.0
60 Manufacturing 154.9 154.1 152.6 151.3
61 Primary processing 181.1 178.8 176.1 173.5
62 Advanced processing 140.5 140.5 139.6 139.0
63 Durable goods 197.6 196.7 195.1 192.3
64 Lumber and products 114.8 113.2 111.5 108.3
65 Furniture and
fixtures 147.2 145.0 145.3 144.1
66 Stone, clay, and
glass products 137.3 134.6 132.4 135.2
67 Primary metals 129.0 127.3 126.3 124.0
68 Iron and steel 123.7 122.0 118.7 116.0
69 Raw steel 115.6 106.3 104.6 108.3
70 Nonferrous 135.3 133.6 135.2 133.4
71 Fabricated metal
products 136.0 134.7 132.9 133.5
72 Industrial
machinery and
equipment 261.5 261.9 262.3 258.4
73 Computer and office
equipment 1,487.4 1,502.8 1,508.3 1,497.4
74 Electrical
machinery 597.4 604.4 610.2 604.3
75 Transportation
equipment 129.2 126.8 122.8 116.0
76 Motor vehicles
and parts 167.2 160.1 151.8 138.6
77 Autos and light
trucks 145.8 140.1 131.5 125.9
78 Aerospace and
miscellaneous
transportation
equipment 93.6 95.4 95.3 94.3
79 Instruments 123.5 124.6 123.1 125.0
80 Miscellaneous 131.1 130.2 129.4 130.4
81 Nondurable goods 116.3 115.5 114.1 114.0
82 Foods 114.8 115.0 114.2 114.1
83 Tobacco products 93.7 93.1 94.2 95.2
84 Textile mill
products 96.7 92.8 94.5 93.0
85 Apparel products 89.2 89.2 88.2 88.9
86 Paper and products 117.1 114.7 112.7 111.8
87 Printing and
publishing 111.6 111.2 109.2 109.6
88 Chemicals and
products 125.8 124.8 122.9 121.8
89 Petroleum products 116.5 116.9 114.7 115.1
90 Rubber and plastics 141.3 139.1 137.3 138.5
91 Leather and
products 68.6 68.9 66.9 67.1
92 Mining 100.1 101.1 99.6 101.0
93 Metal 96.3 93.7 99.5 94.6
94 Coal 110.2 108.6 106.1 115.2
95 Oil and gas
extraction 95.1 96.6 95.2 96.1
96 Stone and earth
minerals 124.6 123.2 119.3 121.7
97 Utilities 120.0 121.9 129.1 124.0
98 Electric 124.2 127.3 131.2 126.7
99 Gas 105.8 104.5 120.2 113.7
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and
parts 154.3 153.8 152.7 152.2
101 Manufacturing excluding
computers and office
equipment 146.2 145.4 143.9 142.7
102 Computers,
communications
equipment, and
semiconductors 1,334.8 1,358.1 1,368.9 1,351.7
103 Manufacturing excluding
computers and
semiconductors 128.0 127.1 125.6 124.7
104 Manufacturing excluding
computers,
communications
equipment, and
semiconductors 124.6 123.6 122.1 121.1
Gross value (billions of 1992 dollars,
annual rates)
MAJOR MARKETS
105 Products, total 2,867.4 2,863.2 2,850.2 2,818.1
106 Final 2,205.4 2,203.7 2,198.2 2,167.1
107 Consumer goods 1,334.7 1,331.2 1,332.8 1,312.2
108 Equipment 880.9 883.3 874.9 864.8
109 Intermediate 661.0 658.6 651.2 649.9
2001
Group Feb. Mar. Apr. May
Index (1992=100)
MAJOR MARKETS
1 Total index 145.4 145.0 144.6 144.2
2 Products 134.6 134.5 133.8 133.7
3 Final products 137.7 137.9 137.2 136.9
4 Consumer goods,
total 122.3 122.4 122.1 122.2
5 Durable
consumer
goods 150.8 153.6 152.9 155.6
6 Automotive
products 138.2 145.4 145.1 148.7
7 Autos and
trucks 143.5 154.9 154.9 162.2
8 Autos,
consumer 100.3 104.0 102.7 105.2
9 Trucks,
consumer 188.6 207.1 208.2 219.9
10 Auto parts
and allied
goods 128.7 130.1 129.2 127.7
11 Other 162.2 160.5 159.5 161.3
12 Appliances,
tele-
visions,
and air
condi-
tioners 322.5 317.1 316.0 328.0
13 Carpeting and
furniture 128.2 127.1 124.0 123.7
14 Miscellaneous
home goods 115.4 114.7 115.0 115.3
15 Nondurable
consumer
goods 115.3 114.8 114.6 114.2
16 Foods and
tobacco 110.7 110.1 110.2 109.7
17 Clothing 82.8 82.2 81.2 79.8
18 Chemical
products 141.5 141.5 140.9 143.0
19 Paper products 111.1 110.9 111.5 110.7
20 Energy 119.2 118.6 117.5 115.2
21 Fuels 114.7 113.7 114.7 115.6
22 Residential
utilities 121.3 121.0 118.5 113.9
23 Equipment 166.2 166.8 165.3 164.1
24 Business equipment 195.3 195.6 193.3 191.9
25 Information
processing 330.6 327.7 326.7 324.3
26 Computer and
office
equipment 1,307.0 1,304.4 1,295.9 1,269.7
27 Industrial 141.4 142.3 139.7 138.0
28 Transit 114.4 117.8 116.3 117.5
29 Autos and
trucks 120.9 129.0 126.6 131.7
30 Other 153.9 151.2 147.6 144.6
31 Defense and space
equipment 76.7 77.7 78.0 76.8
32 Oil and gas well
drilling 147.9 150.7 151.2 152.2
33 Manufactured homes 81.9 83.2 85.2 89.3
34 Intermediate
products, total 125.5 124.4 123.7 124.0
35 Construction
supplies 139.9 140.5 139.6 139.3
36 Business supplies 117.0 114.9 114.3 114.9
37 Materials 165.0 163.9 164.1 163.3
38 Durable goods
materials 225.2 223.6 223.0 223.6
39 Durable consumer
parts 149.9 153.1 153.6 158.2
40 Equipment parts 514.9 508.2 498.3 493.7
41 Other 127.2 125.5 126.9 127.0
42 Basic metal
materials 118.3 114.5 118.2 117.9
43 Nondurable goods
materials 107.2 104.6 105.2 103.1
44 Textile materials 87.7 87.4 86.3 83.7
45 Paper materials 112.4 105.9 111.3 108.5
46 Chemical materials 108.2 105.9 104.1 102.2
47 Other 110.2 109.1 112.2 110.2
48 Energy materials 103.9 104.9 105.8 104.8
49 Primary energy 99.3 100.4 101.2 100.5
50 Converted fuel
materials 113.1 113.7 114.7 112.6
SPECIAL AGGREGATES
51 Total excluding autos
and trucks 145.9 145.1 144.7 144.2
52 Total excluding motor
vehicles and parts 145.4 144.5 144.1 143.4
53 Total excluding
computer and office
equipment 138.1 137.7 137.3 137.0
54 Consumer goods
excluding autos and
trucks 121.1 120.6 120.3 120.0
55 Consumer goods
excluding energy 122.6 122.8 122.6 123.0
56 Business equipment
excluding autos and
trucks 204.6 203.8 201.6 199.3
57 Business equipment
excluding computer
and office equipment 156.5 156.8 154.9 154.1
58 Materials excluding
energy 184.1 182.0 181.9 181.3
MAJOR INDUSTRIES
59 Total index 145.4 145.0 144.6 144.2
60 Manufacturing 150.7 150.0 149.6 149.2
61 Primary processing 173.1 171.1 171.3 170.6
62 Advanced processing 138.4 138.3 137.5 137.3
63 Durable goods 191.1 191.3 190.1 190.1
64 Lumber and products 109.1 111.4 110.9 114.0
65 Furniture and
fixtures 143.8 143.2 142.5 143.5
66 Stone, clay, and
glass products 134.3 134.3 133.3 134.3
67 Primary metals 121.3 117.8 122.4 122.5
68 Iron and steel 115.5 113.3 118.4 121.9
69 Raw steel 109.1 109.2 101.3 109.0
70 Nonferrous 128.2 123.3 127.2 123.4
71 Fabricated metal
products 130.3 129.8 129.3 128.8
72 Industrial
machinery and
equipment 255.0 255.7 251.0 246.1
73 Computer and office
equipment 1,484.2 1,477.5 1,464.4 1,434.6
74 Electrical
machinery 593.7 581.0 569.9 565.8
75 Transportation
equipment 119.8 124.5 123.9 127.0
76 Motor vehicles
and parts 147.4 156.5 155.4 162.9
77 Autos and light
trucks 131.9 141.8 141.6 147.9
78 Aerospace and
miscellaneous
transportation
equipment 93.5 94.3 94.1 93.2
79 Instruments 123.3 122.6 123.1 122.4
80 Miscellaneous 127.6 127.6 128.4 126.6
81 Nondurable goods 114.0 112.7 112.8 112.2
82 Foods 115.0 114.6 114.2 114.1
83 Tobacco products 93.7 92.2 93.8 92.1
84 Textile mill
products 92.7 92.4 90.7 87.4
85 Apparel products 88.7 88.4 88.2 87.9
86 Paper and products 112.8 107.7 113.7 110.9
87 Printing and
publishing 107.7 106.2 105.6 105.3
88 Chemicals and
products 122.6 121.2 120.1 120.2
89 Petroleum products 116.5 115.0 116.7 116.2
90 Rubber and plastics 137.3 136.5 136.0 135.0
91 Leather and
products 69.3 67.7 65.7 64.0
92 Mining 101.4 102.7 103.5 103.8
93 Metal 91.7 85.4 90.4 91.2
94 Coal 110.7 116.6 116.8 116.5
95 Oil and gas
extraction 96.7 97.7 98.5 98.9
96 Stone and earth
minerals 126.4 129.6 129.1 128.2
97 Utilities 121.8 122.0 120.9 119.5
98 Electric 123.9 125.5 127.2 125.0
99 Gas 112.9 109.7 101.2 102.1
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and
parts 151.1 149.8 149.3 148.5
101 Manufacturing excluding
computers and office
equipment 142.2 141.5 141.1 140.8
102 Computers,
communications
equipment, and
semiconductors 1,334.1 1,312.2 1,283.1 1,260.2
103 Manufacturing excluding
computers and
semiconductors 124.3 123.8 123.7 123.5
104 Manufacturing excluding
computers,
communications
equipment, and
semiconductors 120.8 120.4 120.3 120.2
Gross value (billions of 1992 dollars,
annual rates)
MAJOR MARKETS
105 Products, total 2,819.8 2,826.9 2,812.9 2,818.9
106 Final 2,174.5 2,186.0 2,174.7 2,178.7
107 Consumer goods 1,322.8 1,328.2 1,325.5 1,331.9
108 Equipment 859.8 866.4 856.5 852.8
109 Intermediate 644.5 640.4 637.7 639.6
Group 2001
June July Aug. Sept.
(r) (r) (r) (p)
MAJOR MARKETS Index (1992=100)
1 Total index 142.8 142.7 141.8 140.3
2 Products 132.4 132.5 131.3 129.9
3 Final products 135.4 135.6 134.3 132.8
4 Consumer goods,
total 121.6 121.9 120.9 120.1
5 Durable
consumer
goods 154.1 157.5 154.3 151.2
6 Automotive
products 148.0 156.9 151.7 147.5
7 Autos and
trucks 158.9 175.1 165.6 159.2
8 Autos,
consumer 104.1 102.6 94.4 96.6
9 Trucks,
consumer 214.6 246.0 234.8 221.1
10 Auto parts
and allied
goods 130.7 129.3 130.1 128.9
11 Other 159.0 156.8 155.7 153.7
12 Appliances,
tele-
visions,
and air
condi-
tioners 314.5 301.8 316.9 315.7
13 Carpeting and
furniture 124.6 122.3 120.3 118.6
14 Miscellaneous
home goods 114.1 115.0 110.9 108.7
15 Nondurable
consumer
goods 113.8 113.5 112.9 112.5
16 Foods and
tobacco 109.8 109.4 108.4 108.2
17 Clothing 76.9 77.1 74.9 73.5
18 Chemical
products 141.4 141.3 141.4 140.8
19 Paper products 110.5 110.4 109.6 110.1
20 Energy 115.8 115.1 116.1 115.3
21 Fuels 115.2 114.7 111.9 111.6
22 Residential
utilities 115.3 114.5 118.0 116.9
23 Equipment 160.6 160.4 158.6 155.5
24 Business equipment 187.1 186.7 184.8 180.5
25 Information
processing 315.8 310.9 310.8 306.3
26 Computer and
office
equipment 1,248.6 1,238.4 1,232.5 1,201.7
27 Industrial 132.7 131.9 130.5 127.8
28 Transit 116.4 118.8 115.5 112.6
29 Autos and
trucks 129.9 135.5 128.3 123.2
30 Other 143.3 146.5 144.1 135.8
31 Defense and space
equipment 76.4 77.4 76.2 76.3
32 Oil and gas well
drilling 150.4 147.7 143.0 139.3
33 Manufactured homes 94.1 92.6 93.3 95.0
34 Intermediate
products, total 123.4 123.1 122.4 121.0
35 Construction
supplies 139.0 139.0 138.5 137.6
36 Business supplies 114.3 113.7 113.0 111.3
37 Materials 161.4 161.1 160.5 159.2
38 Durable goods
materials 220.3 220.2 218.7 215.3
39 Durable consumer
parts 155.9 158.0 157.3 152.4
40 Equipment parts 483.1 479.4 475.1 468.6
41 Other 126.0 125.8 125.1 123.9
42 Basic metal
materials 117.7 118.0 116.4 113.6
43 Nondurable goods
materials 102.5 102.5 102.2 102.1
44 Textile materials 83.4 79.7 82.5 81.9
45 Paper materials 104.8 107.2 108.4 108.5
46 Chemical materials 103.0 102.2 101.1 101.2
47 Other 108.8 110.2 109.4 109.0
48 Energy materials 103.8 103.2 103.5 103.6
49 Primary energy 100.8 100.0 100.3 100.6
50 Converted fuel
materials 108.1 107.6 108.0 107.9
SPECIAL AGGREGATES
51 Total excluding autos
and trucks 142.7 142.3 141.6 140.3
52 Total excluding motor
vehicles and parts 141.9 141.4 140.7 139.5
53 Total excluding
computer and office
equipment 135.7 135.6 134.7 133.4
54 Consumer goods
excluding autos and
trucks 119.5 119.1 118.5 117.9
55 Consumer goods
excluding energy 122.2 122.7 121.4 120.6
56 Business equipment
excluding autos and
trucks 194.1 192.9 191.8 187.6
57 Business equipment
excluding computer
and office equipment 150.0 149.8 148.2 144.8
58 Materials excluding
energy 179.1 179.0 178.0 175.9
MAJOR INDUSTRIES
59 Total index 142.8 142.7 141.8 140.3
60 Manufacturing 147.5 147.6 146.3 144.7
61 Primary processing 169.0 169.0 167.5 165.9
62 Advanced processing 135.6 135.7 134.6 133.0
63 Durable goods 186.9 187.6 185.7 182.5
64 Lumber and products 113.8 114.6 114.9 115.8
65 Furniture and
fixtures 140.0 140.1 138.1 135.6
66 Stone, clay, and
glass products 132.0 132.1 131.5 131.7
67 Primary metals 121.8 122.3 120.6 117.3
68 Iron and steel 122.3 123.0 120.4 116.0
69 Raw steel 111.8 112.8 111.1 106.3
70 Nonferrous 121.5 121.8 121.2 119.0
71 Fabricated metal
products 127.1 128.0 127.1 124.8
72 Industrial
machinery and
equipment 240.0 238.6 237.5 230.8
73 Computer and office
equipment 1,410.1 1,398.3 1,391.5 1,356.7
74 Electrical
machinery 552.3 540.1 538.5 528.8
75 Transportation
equipment 125.5 129.2 126.3 123.2
76 Motor vehicles
and parts 160.7 168.4 163.3 157.4
77 Autos and light
trucks 145.0 157.9 149.0 144.2
78 Aerospace and
miscellaneous
transportation
equipment 92.4 92.4 91.5 90.9
79 Instruments 120.0 121.1 120.7 120.8
80 Miscellaneous 127.9 128.8 124.2 123.6
81 Nondurable goods 111.5 111.3 110.5 110.1
82 Foods 113.9 113.2 112.8 112.9
83 Tobacco products 93.1 94.2 91.7 90.0
84 Textile mill
products 87.7 84.3 86.2 85.4
85 Apparel products 85.2 85.9 82.7 81.1
86 Paper and products 108.8 109.8 108.5 108.8
87 Printing and
publishing 104.0 103.4 102.9 102.2
88 Chemicals and
products 119.5 119.6 119.0 119.0
89 Petroleum products 116.7 115.6 113.6 112.7
90 Rubber and plastics 135.5 135.4 134.9 134.7
91 Leather and
products 62.4 62.2 61.8 60.1
92 Mining 103.4 102.3 102.0 102.3
93 Metal 92.9 90.7 89.4 89.4
94 Coal 115.2 111.5 111.3 110.2
95 Oil and gas
extraction 98.5 97.9 97.4 97.8
96 Stone and earth
minerals 126.5 123.6 125.2 125.9
97 Utilities 119.9 119.0 121.3 119.1
98 Electric 124.4 123.2 126.4 123.0
99 Gas 105.1 104.9 104.8 105.7
SPECIAL AGGREGATES
100 Manufacturing excluding
motor vehicles and
parts 146.8 146.4 145.4 144.1
101 Manufacturing excluding
computers and office
equipment 139.2 139.4 138.2 136.7
102 Computers,
communications
equipment, and
semiconductors 1,228.4 1,202.8 1,190.9 1,162.5
103 Manufacturing excluding
computers and
semiconductors 122.3 122.5 121.4 120.2
104 Manufacturing excluding
computers,
communications
equipment, and
semiconductors 119.0 119.3 118.3 117.1
Gross value (billions of 1992 dollars,
annual rates)
MAJOR MARKETS
105 Products, total 2,796.5 2,804.9 2,776.4 2,742.6
106 Final 2,157.1 2,167.3 2,142.4 2,116.2
107 Consumer goods 1,325.7 1,333.5 1,320.3 1,310.5
108 Equipment 835.1 837.1 824.6 806. l
109 Intermediate 638.6 637.0 633.2 625.7
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in December 2000. The recent annual
revision is described in an article in the March 2001 issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and the
references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 19901, pp. 187-204.
(2.) Standard Industrial Classification.
2.14 HOUSING AND CONSTRUCTION
Monthly figures at seasonally adjusted annual rates except as noted
Item 1998 1999 2000
Private residential real estate activity
(thousands of units except as noted)
NEW UNITS
1 Permits authorized 1,612 1,664 1,592
2 One-family 1,188 1,247 1,198
3 Two-family or more 425 417 394
4 Started 1,617 1,641 1,569
5 One-family 1,271 1,302 1,231
6 Two-family or more 346 339 338
7 Under construction
at end of
period (1) 971 953 934
8 One-family 659 648 623
9 Two-family or more 312 305 310
10 Completed 1,474 1,605 1,574
11 One-family 1,160 1,270 1,242
12 Two-family or more 315 335 332
13 Mobile homes shipped 374 348 250
Merchant builder
activity in
one-family units
14 Number sold 886 880 877
15 Number for sale at
end of period (1) 300 315 301
Price of units sold
(thousands of
dollars) (2)
16 Median 152.5 161.0 169.0
17 Average 181.9 195.6 207.0
EXISTING UNITS
(one-family)
18 Number sold 4,970 5,205 5,113
Price of units sold
(thousands of
dollars) (2)
19 Median 128.4 133.3 139.0
20 Average 159.1 168.3 176.2
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 703,533 763,914 817,130
22 Private 550,754 595,667 641,269
23 Residential 314,514 349,560 375,268
24 Nonresidemial -314,383 (r) -349,427 (r) -375,130 (r)
25 Industrial
buildings 40,547 32,794 31,984
26 Commercial
buildings 95,760 104,531 116,988
27 Other buildings 39,609 40,906 44,505
28 Public utilities 60,324 67,876 72,523
and other
29 Public 152,779 168,247 175,861
30 Military 2,539 2,142 2,334
31 Highway 45,251 52,024 52,851
32 Conservation and
development 5,415 5,995 6,043
33 Other 99,575 108,086 114,634
2000 2001
Item Nov. Dec. Jan. Feb.
Private residential real estate activity
(thousands of units except as noted)
NEW UNITS
1 Permits authorized 1,614 1,553 1,724 1,663
2 One-family 1,203 1,187 1,283 1,228
3 Two-family or more 411 366 441 435
4 Started 1,559 1,532 1,666 1,623
5 One-family 1,209 1,236 1,336 1,288
6 Two-family or more 350 296 330 335
7 Under construction
at end of
period (1) 969 965 985 989
8 One-family 655 652 669 675
9 Two-family or more 314 313 316 314
10 Completed 1,548 1,527 1,424 1,531
11 One-family 1,236 1,228 1,090 1,201
12 Two-family or more 312 299 334 330
13 Mobile homes shipped 196 176 171 180
Merchant builder
activity in
one-family units
14 Number sold 882 1,001 938 959
15 Number for sale at
end of period (1) 304 297 295 295
Price of units sold
(thousands of
dollars) (2)
16 Median 174.7 162.0 171.3 169.1
17 Average 210.7 208.1 209.0 211.0
EXISTING UNITS
(one-family)
18 Number sold 5,300 4,940 5,200 5,190
Price of units sold
(thousands of
dollars) (2)
19 Median 139.5 139.7 137.1 138.6
20 Average 176.5 178.5 175.8 174.6
Value of new constrution
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 826,746 838,731 859,815 869,334
22 Private 651,066 660,849 673,715 681,826
23 Residential 374,281 379,593 386,088 398,863
24 Nonresidemial 276,785 281,256 287,627 282,963
25 Industrial
buildings 33,265 31,398 35,878 33,386
26 Commercial
buildings 120,587 125,234 125,402 124,568
27 Other buildings 45,628 45,707 46,567 46,264
28 Public utilities 77,305 78,917 79,780 78,745
and other
29 Public 175,680 177,883 186,100 187,508
30 Military 2,629 2,107 2,270 2,342
31 Highway 48,858 50,189 55,368 56,204
32 Conservation and
development 5,789 6,339 7,381 7,838
33 Other 118,404 119,248 121,081 121,124
2001
Item Mar. Apr. May June
Private residential real estate activity
(thousands of units except as noted)
NEW UNITS
1 Permits authorized 1,627 1,587 1,621 1,587
2 One-family 1,209 1,218 1,205 1,225
3 Two-family or more 418 369 416 362
4 Started 1,592 1,626 1,610 1,634
5 One-family 1,208 1,295 1,285 1,292
6 Two-family or more 384 331 325 342
7 Under construction
at end of
period (1) 1,002 1,006 1,016 1,012
8 One-family 676 682 688 688
9 Two-family or more 326 324 328 324
10 Completed 1,478 1,569 1,499 1,643
11 One-family 1,207 1,232 1,225 1,275
12 Two-family or more 271 337 274 368
13 Mobile homes shipped 179 184 186 198
Merchant builder
activity in
one-family units
14 Number sold 953 899 882 886
15 Number for sale at
end of period (1) 289 293 296 301
Price of units sold
(thousands of
dollars) (2)
16 Median 166.3 175.2 175.3 174.3
17 Average 210.2 205.5 211.4 209.0
EXISTING UNITS
(one-family)
18 Number sold 5,430 5,220 5,360 5,330
Price of units sold
(thousands of
dollars) (2)
19 Median 143.4 143.1 145.0 152.2
20 Average 179.5 179.9 183.6 191.1
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 869,140 870,826 869,574 861,571
22 Private 681,176 677,429 670,838 665,322
23 Residential 395,080 392,160 394,330 391,508
24 Nonresidemial 286,096 285,269 276,508 273,814
25 Industrial
buildings 34,823 34,662 31,943 32,966
26 Commercial
buildings 128,792 124,935 118,601 116,842
27 Other buildings 47,117 46,080 46,643 46,020
28 Public utilities 75,364 79,592 79,321 77,986
and other
29 Public 187,964 193,397 198,736 196,249
30 Military 2,131 2,530 2,274 2,477
31 Highway 57,443 57,717 60,437 61,534
32 Conservation and
development 7,573 6,332 7,216 6,592
33 Other 120,817 126,818 128,809 125,646
2001
Item July Aug.
Private residential
real estate activity
(thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,571 1,571
2 One-family 1,211 1,210
3 Two-family or more 360 361
4 Started 1,660 (r) 1,548
5 One-family 1,290 (r) 1,260
6 Two-family or more 370 (r) 288
7 Under construction
at end of
period (1) 1,019 (r) 1,004
8 One-family 693 (r) 687
9 Two-family or more 326 (r) 317
10 Completed 1,583 (r) 1,609
11 One-family 1,269 (r) 1,265
12 Two-family or more 314 (r) 344
13 Mobile homes shipped 193 199
Merchant builder
activity in
one-family units
14 Number sold 893 898
15 Number for sale at
end of period (1) 305 307
Price of units sold
(thousands of
dollars) (2)
16 Median 172.3 167.6
17 Average 207.9 201.5
EXISTING UNITS
(one-family)
18 Number sold 5,200 5,540
Price of units sold
(thousands of
dollars) (2)
19 Median 151.7 153.7
20 Average 190.6 193.5
Value of new construction
(millions of dollars) (3)
CONSTRUCTION
21 Total put in place 854,640 845,521
22 Private 653,315 644,300
23 Residential 388,874 387,327
24 Nonresidemial 264,441 256,973
25 Industrial
buildings 33,269 30,842
26 Commercial
buildings 111,388 107,116
27 Other buildings 44,765 44,556
28 Public utilities 75,019 74,459
and other
29 Public 201,326 201,221
30 Military 2,371 2,550
31 Highway 61,758 55,791
32 Conservation and
development 5,955 6,908
33 Other 131,242 135,972
(1.) Not at annual rates.
(2.) Not seasonally adjusted.
(3.) Recent data on value of new construction may not be strictly
comparable with data for previous periods because of changes by the
Bureau of the Census in its estimating techniques. For a description
of these changes, see Construction Reports (C-30-76-5), issued by the
Census Bureau in July 1976.
SOURCE. Bureau of the Census estimates for all series except (1)
mobile homes, which are private, domestic shipments as reported by the
Manufactured Housing Institute and seasonably adjusted by the Census
Bureau, and (2) sales and prices of existing units, which are published
by the National Association of Realtors. All back and current figures
are available from the originating agency. Permit authorizations are
those reported to the Census Bureau from 19,000 jurisdictions beginning
in 1994.
2.15 CONSUMER AND PRODUCER PRICES
Percentage changes based on seasonally adjusted data except as noted
Change Change from 3
from 12 months earlier
months earlier (annual rate)
2000 2001
2000 2001
Item Sept. Sept. Dec. Mar.
CONSUMER PRICES (2)
(1982-84=100)
1 All items 3.5 2.6 2.3 4.0
2 Food 2.6 3.1 2.1 4.1
3 Energy items 15.4 1.5 3.8 6.0
4 All items less food 2.6 2.6 2.0 3.5
and energy
5 Commodities .3 .1 .0 1.4
6 Services 3.5 3.8 3.2 4.2
PRODUCER PRICES
(1982=100)
7 Finished goods 3.5 1.6 2.9 4.7
8 Consumer foods .5 4.0 2.7 10.5
9 Consumer energy 17.2 -.5 12.0 9.5
10 Other consumer goods 1.5 1.8 1.0 2.3
11 Capital equipment 1.4 .6 .3 .0
Intermediate materials
12 Excluding foods and feeds 4.9 -1.1 1.2 1.5
13 Excluding energy 2.3 -.9 -.3 1.5
Crude materials
14 Foods -2.5 11.2 36.5 15.6
15 Energy 43.3 -31.9 102.6 -42.4
16 Other 2.7 -10.1 -9.2 -10.8
Change from
3 months Change from 1
earlier month earlier
(annual rate)
2001
Item June Sept. May June
CONSUMER PRICES (2)
(1982-84=100)
1 All items 3.7 .7 .4 .2
2 Food 3.3 2.8 .3 .4
3 Energy items 16.8 -18.0 3.1 -.9
4 All items less food 2.6 2.4 .1 .3
and energy
5 Commodities -1.6 .3 -.4 .0
6 Services 4.5 3.1 .3 .5
PRODUCER PRICES
(1982=100)
7 Finished goods .3 -.8 .1 (r) -.5 (r)
8 Consumer foods .9 2.0 -.2 (r) -.2 (r)
9 Consumer energy -6.1 -14.6 .4 (r) -3.0 (r)
10 Other consumer goods 2.3 1.8 .4 (r) -.1 (r)
11 Capital equipment 1.2 1.1 -.2 (r) .3 (r)
Intermediate materials
12 Excluding foods and feeds -1.2 -5.6 .1 -.2
13 Excluding energy -.9 -3.7 .0 (r) -.1 (r)
Crude materials
14 Foods -7.1 4.5 -1.3 -.1
15 Energy -43.7 -67.3 -3.2 (r) -12.4 (r)
16 Other -13.7 -6.0 -.6 (r) -.7 (r)
Change from 1 month
earlier
Index
2001 level,
Sept.
Item July Aug. Sept. 2001 (1)
CONSUMER PRICES (2)
(1982-84=100)
1 All items -.3 .1 .4 178.3
2 Food .3 .2 .2 174.1
3 Energy items -5.6 -1.9 2.6 132.5
4 All items less food .2 .2 .2 187.1
and energy
5 Commodities .1 -.4 .3 145.2
6 Services .2 .5 .1 211.2
PRODUCER PRICES
(1982=100)
7 Finished goods -.9 .4 .4 141.7
8 Consumer foods -.6 .9 .2 142.9
9 Consumer energy -5.8 1.1 .9 100.1
10 Other consumer goods .1 -.1 .4 156.8
11 Capital equipment .2 -.1 .1 139.4
Intermediate materials
12 Excluding foods and feeds -1.1 -.5 .1 130.7
13 Excluding energy -.4 -.4 -.1 135.8
Crude materials
14 Foods .6 -.6 1.1 108.5
15 Energy -11.5 -4.4 -10.7 93.1
16 Other -.9 -.8 .2 128.5
(1.) Not seasonally adjusted.
(2.) Figures for consumer prices are for all urban consumers and
reflect a rental-equivalence measure of homeownership.
SOURCE. U.S. Department of Labor, Bureau of Labor Statistics.
2.16 GROSS DOMESTIC PRODUCT AND INCOME
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
2000
Account 1998 1999 2000 Q2
GROSS DOMESTIC PRODUCT
1 Total 8,781.5 9,268.6 9,872.9 9,857.6
By source
2 Personal consumption
expenditures 5,856.0 6,250.2 6,728.4 6,674.9
3 Durable goods 693.2 760.9 819.6 813.8
4 Nondurable goods 1,708.5 1,831.3 1,989.6 1,978.3
5 Services 3,454.3 3,658.0 3,919.2 3,882.8
6 Gross private domestic 1,538.7 1,636.7 1,767.5 1,792.4
investment
7 Fixed investment 1,465.6 1,578.2 1,718.1 1,717.0
8 Nonresidential 1,101.2 1,174.6 1,293.1 1,288.3
9 Structures 282.4 283.5 313.6 306.4
10 Producers' durable 818.9 891.1 979.5 981.8
equipment
11 Residential 364.4 403.5 425.1 428.7
structures
12 Change in business
inventories 73.1 58.6 49.4 75.4
13 Nonfarm 72.3 60.1 51.1 74.0
14 Net exports of goods and
services -151.7 -250.9 -364.0 -350.8
15 Exports 964.9 989.8 1,102.9 1,099.7
16 Imports 1,116.7 1,240.6 1,466.9 1,450.4
17 Government consumption
expenditures and gross
investment 1,538.5 1,632.5 1,741.0 1,741.1
18 Federal 539.2 564.0 590.2 601.0
19 State and local 999.3 1,068.5 1,150.8 1,140.1
By major pipe of product
20 Final sales, total 8,708.4 9,210.0 9,823.6 9,782.2
21 Goods 3,232.3 3,418.6 3,644.8 3,636.0
22 Durable 1,524.4 1,618.8 1,735.2 1,735.2
23 Nondurable 1,707.9 1,799.8 1,909.7 1,900.8
24 Services 4,678.6 4,939.1 5,268.5 5,243.1
25 Structures 797.5 852.4 910.3 903.1
26 Change in business
inventories 73.1 58.6 49.4 75.4
27 Durable goods 44.7 35.3 34.7 51.0
28 Nondurable goods 28.5 23.3 14.7 24.4
MEMO
29 Total GDP in chained 1996
dollars 8,508.9 8,856.5 9,224.0 9,229.4
NATIONAL INCOME
30 Total 7,041.4 7,462.1 7,980.9 7,956.1
31 Compensation of employees 4,989.6 5,310.7 5,715.2 5,669.9
32 Wages and salaries 4,192.1 4,477.4 4,837.2 4,798.0
33 Government and
government
enterprises 692.7 724.3 768.4 768.3
34 Other 3,499.4 3,753.1 4,068.8 4,029.7
35 Supplement to wages and
salaries 797.5 833.4 878.0 872.0
36 Employer
contributions
for social
insurance 306.9 323.6 343.8 341.8
37 Other labor income 490.6 509.7 534.2 530.1
38 Proprietors' income (1) 623.8 672.0 715.0 717.9
39 Business and
professional (1) 598.2 645.4 684.4 685.4
40 Farm (1) 25.6 26.6 30.6 32.5
41 Rental income of
persons (2) 138.6 147.7 141.6 141.4
42 Corporate profits (1) 777.4 825.2 876.4 892.8
43 Profits before tax (3) 721.1 776.3 845.4 862.0
44 Inventory valuation
adjustment 18.3 -2.9 -12.4 -14.8
45 Capital consumption
adjustment 38.0 51.7 43.4 45.5
46 Net interest 511.9 506.5 532.7 534.1
2000 2001
Account Q3 Q4 Q1 Q2
GROSS DOMESTIC PROOUCT
1 Total 9,937.5 10,027.9 10,141.7 10,202.6
By source
2 Personal consumption
expenditures 6,785.5 6,871.4 6,977.6 7,044.6
3 Durable goods 825.4 818.7 838.1 844.7
4 Nondurable goods 2,012.4 2,025.1 2,047.1 2,062.3
5 Services 3,947.7 4,027.5 4,092.4 4,137.6
6 Gross private domestic 1,788.4 1,780.3 1,722.8 1,669.9
investment
7 Fixed investment 1,735.9 1,741.6 1,748.3 1,706.5
8 Nonresidential 1,314.9 1,318.2 1,311.2 1,260.2
9 Structures 321.1 330.9 345.8 338.6
10 Producers' durable 993.8 987.3 965.4 921.7
equipment
11 Residential 421.0 423.4 437.0 446.2
structures
12 Change in business
inventories 52.5 38.7 -25.5 -36.6
13 Nonfarm 55.3 37.8 -26.2 -35.3
14 Net exports of goods and
services -380.6 -390.6 -363.8 -347.4
15 Exports 1,131.1 1,121.0 1,117.4 1,079.6
16 Imports 1,511.8 1,511.6 1,481.2 1,427.0
17 Government consumption
expenditures and gross
investment 1,744.2 1,766.8 1,805.2 1,835.4
18 Federal 587.0 594.2 605.3 609.9
19 State and local 1,157.2 1,172.6 1,199.8 1,225.5
By major pipe of product
20 Final sales, total 9,884.9 9,989.2 10,167.2 10,239.1
21 Goods 3,677.2 3,670.6 3,718.8 3,715.0
22 Durable 1,753.8 1,740.7 1,755.8 1,737.2
23 Nondurable 1,923.5 1,929.9 1,963.1 1,977.8
24 Services 5,296.1 5,393.0 5,482.8 5,545.7
25 Structures 911.6 925.6 965.6 978.4
26 Change in business
inventories 52.5 38.7 -25.5 -36.6
27 Durable goods 33.0 31.5 -31.0 -42.3
28 Nondurable goods 19.5 7.2 5.5 5.8
MEMO
29 Total GDP in chained 1996
dollars 9,260.1 9,303.9 9,334.5 9,341.7
NATIONAL INCOME
30 Total 8,047.2 8,124.0 8,169.7 8,207.9
31 Compensation of employees 5,759.3 5,868.9 5,955.7 6,010.8
32 Wages and salaries 4.875.8 4,973.2 5,049.4 5,099.8
33 Government and
government
enterprises 772.6 776.6 788.8 799.6
34 Other 4,103.2 4,196.6 4,260.6 4,300.2
35 Supplement to wages and
salaries 883.5 895.7 906.3 911.0
36 Employer
contributions
for social
insurance 345.6 350.8 357.1 358.8
37 Other labor income 537.9 544.9 549.3 552.2
38 Proprietors' income (1) 719.3 725.2 735.2 745.3
39 Business and
professional (1) 687.6 693.5 705.4 716.6
40 Farm (1) 31.6 31.7 29.8 28.7
41 Rental income of
persons (2) 138.3 141.7 139.6 139.0
42 Corporate profits (1) 895.0 847.6 789.8 759.8
43 Profits before tax (3) 858.3 816.5 755.7 738.3
44 Inventory valuation
adjustment -3.6 -7.3 -1.9 -8.8
45 Capital consumption
adjustment 40.4 38.4 36.0 30.3
46 Net interest 535.3 540.6 549.4 553.0
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
(3.) For after-tax profits, dividends, and the like, see table 1.48.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
2.17 PERSONAL INCOME AND SAVING
Billions of current dollars except as noted; quarterly data at
seasonally adjusted annual rates
2000
Account 1998 1999 2000 Q2
PERSONAL INCOME AND SAVING
1 Total personal income 7,426.0 7,777.3 8,319.2 8,271.0
2 Wage and salary
disbursements 4,192.8 4,472.2 4,837.2 4,798.0
3 Commodity-producing
industries 1,038.5 1,088.7 1,163.7 1,151.8
4 Manufacturing 756.6 782.0 830.1 822.0
5 Distributive
industries 948.9 1,021.0 1,095.6 1,086.1
6 Service industries 1,512.7 1,638.2 1,809.5 1,791.7
7 Government and
government
enterprises 692.7 724.3 768.4 768.3
8 0ther labor income 490.6 509.7 534.2 530.1
9 Proprietors' income (1) 623.8 672.0 715.0 717.9
10 Business and
professional (1) 598.2 645.4 684.4 685.4
11 Farm (1) 25.6 26.6 30.6 32.5
12 Rental income of
persons (2) 138.6 147.7 141.6 141.4
13 Dividends 348.3 343.1 379.2 373.3
14 Personal interest
income 964.4 950.0 1,000.6 999.9
15 Transfer payments 983.7 1,019.6 1,069.1 1,066.3
16 Old-age survivors,
disability, and
health insurance
benefits 578.1 588.0 617.3 618.6
17 LESS: Personal
contributions for
social insurance 316.3 337.1 357.7 355.8
18 EQUALS: Personal income 7,426.0 7,777.3 8,319.2 8,271.0
19 LESS: Personal tax
and nontax payments 1,070.4 1,159.2 1,288.2 1,277.3
20 EQUALS: Disposable
personal income 6,355.6 6,618.0 7,031.0 6,993.7
21 LESS: Personal
outlays 6,054.1 6,457.2 6,963.3 6,905.6
22 EQUALS: Personal saving 301.5 160.9 67.7 88.1
MEMO
Per capita (chained
1996 dollars)
23 Gross domestic product 31,449.2 32,441.9 33,490.3 33,549.2
24 Personal consumption
expenditures 21,007.2 21,862.6 22,720.7 22,632.8
25 Disposable personal
income 22,800.0 23,150.0 23,742.0 23,717.0
26 Saving rate (percent) 4.7 2.4 1.0 1.3
GROSS SAVING
27 Gross saving 1,647.2 1,707.4 1,785.7 1,799.4
28 Gross private saving 1,375.0 1,348.0 1,323.0 1,345.8
29 Personal saving 301.5 160.9 67.7 88.1
30 Undistributed corporate
profits (1) 189.9 228.7 225.3 238.6
31 Corporate inventory
valuation adjustment 18.3 -2.9 -12.4 -14.8
Capital consumption
allowances
32 Corporate 620.2 669.2 727.1 719.1
33 Noncorporate 264.2 284.1 302.8 299.9
34 Gross government saving 272.2 359.4 462.8 453.7
35 Federal 132.0 210.9 315.0 305.0
36 Consumption of
fixed capital 88.2 91.7 96.4 95.9
37 Current surplus or
deficit (-),
national accounts 43.8 119.2 218.6 209.1
38 State and local 140.2 148.5 147.8 148.7
39 Consumption of
fixed capital 99.5 106.4 114.9 114.0
40 Current surplus or
deficit (-),
national accounts 40.7 42.1 32.8 34.7
41 Gross investment 1,616.2 1,634.7 1,655.3 1,690.0
42 Gross private domestic
investment 1,538.7 1,636.7 1,767.5 1,792.4
43 Gross government
investment 277.1 304.6 318.3 315.0
44 Net foreign investment -199.7 -306.6 -430.5 -417.4
45 Statistical discrepancy -31.0 -72.7 -130.4 -109.5
2000 2001
Account Q3 Q4 Q1 Q2
PERSONAL INCOME AND SAVING
1 Total personal income 8,381.5 8,519.6 8,640.2 8,714.6
2 Wage and salary
disbursements 4,875.8 4,973.2 5,049.4 5,099.8
3 Commodity-producing
industries 1,173.2 1,195.5 1,206.3 1,204.4
4 Manufacturing 838.0 852.2 853.3 850.2
5 Distributive
industries 1,102.4 1,125.9 1,140.3 1,148.2
6 Service industries 1,827.6 1,875.2 1,914.0 1,947.6
7 Government and
government
enterprises 772.6 776.6 788.8 799.6
8 0ther labor income 537.9 544.9 549.3 552.2
9 Proprietors' income (1) 719.3 725.2 735.2 745.3
10 Business and
professional (1) 687.6 693.5 705.4 716.6
11 Farm (1) 31.6 31.7 29.8 28.7
12 Rental income of
persons (2) 138.3 141.7 139.6 139.0
13 Dividends 385.8 396.6 404.8 411.9
14 Personal interest
income 1,009.2 1,013.1 1,010.9 1,001.0
15 Transfer payments 1,074.6 1,089.0 1,123.1 1,139.4
16 Old-age survivors,
disability, and
health insurance
benefits 620.9 626.5 651.4 660.1
17 LESS: Personal
contributions for
social insurance 359.4 364.1 372.1 374.0
18 EQUALS: Personal income 8,381.5 8,519.6 8,640.2 8,714.6
19 LESS: Personal tax
and nontax payments 1,300.2 1,329.8 1,345.2 1,351.4
20 EQUALS: Disposable
personal income 7,081.3 7,189.8 7,295.0 7,363.2
21 LESS: Personal
outlays 7,026.9 7,115.1 7,216.2 7,281.7
22 EQUALS: Personal saving 54.5 74.7 78.8 81.5
MEMO
Per capita (chained
1996 dollars)
23 Gross domestic product 33,587.6 33,661.1 33,698.5 33,639.7
24 Personal consumption
expenditures 22,822.4 22,941.7 23,063.1 23,148.7
25 Disposable personal
income 23,814.0 24,006.0 24,111.0 24,200.0
26 Saving rate (percent) .8 1.0 1.1 1.1
GROSS SAVING
27 Gross saving 1,807.4 1,799.7 1,754.0 1,750.5
28 Gross private saving 1,329.6 1,332.7 1,307.9 1,321.2
29 Personal saving 54.5 74.7 78.8 81.5
30 Undistributed corporate
profits (1) 233.9 197.0 147.8 119.5
31 Corporate inventory
valuation adjustment -3.6 -7.3 -1.9 -8.8
Capital consumption
allowances
32 Corporate 736.0 749.7 763.8 785.6
33 Noncorporate 305.2 311.3 317.5 334.6
34 Gross government saving 477.8 467.1 446.1 429.3
35 Federal 326.9 320.5 303.7 286.2
36 Consumption of
fixed capital 97.0 97.9 98.4 99.4
37 Current surplus or
deficit (-),
national accounts 229.9 222.5 205.3 186.7
38 State and local 150.9 146.6 142.5 143.2
39 Consumption of
fixed capital 116.1 118.0 120.2 121.9
40 Current surplus or
deficit (-),
national accounts 34.8 28.6 22.3 21.3
41 Gross investment 1,651.1 1,649.7 1,633.5 1,607.3
42 Gross private domestic
investment 1,788.4 1,780.3 1,722.8 1,669.9
43 Gross government
investment 314.0 322.8 330.9 344.0
44 Net foreign investment -451.3 -453.4 -420.2 -406.6
45 Statistical discrepancy -156.3 -150.0 -120.5 -143.2
(1.) With inventory valuation and capital consumption adjustments.
(2.) With capital consumption adjustment.
SOURCE. U.S. Department of Commerce, Survey of Current Business.
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted
except as noted (1)
Item credits or debits 1998 1999 2000
1 Balance on current account -217,457 -324,364 -444,667
2 Balance on goods and
services -166,828 -261,838 -375,739
3 Exports 932,694 957,353 1,065,702
4 Imports -1,099,522 -1,219,191 -1,441,441
5 Income, net -6,202 -13,613 -14,792
6 Investment, net -1,211 -8,511 -9,621
7 Direct 66,253 67,044 81,231
8 Portfolio -67,464 -75,555 -90,852
9 Compensation of employees -4,991 -5,102 -5,171
10 Unilateral current transfers,
net -44,427 -48,913 -54,136
11 Change in U.S. government
assets other than official
reserve assets, net
(increase, -) -422 2,751 -944
12 Change in U.S. Official
reserve assets
(increase, -) -6,783 8,747 -290
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -147 10 -722
15 Reserve position in
International Monetary
Fund -5,119 5,484 2,308
16 Foreign currencies -1,517 3,253 -1,876
17 Change in U.S. private assets
abroad (increase, -) -352,427 -448,565 -579,718
18 Bank-reported claims (2) -35,572 -76,263 -138,500
19 Nonbank-reported claims -38,204 -85,700 -163,846
20 U.S. purchase of foreign
securities, net -136,135 -131,217 -124,935
21 U.S. direct investments
abroad, net -142,516 -155,385 -152,437
22 Change in foreign oflicial
assets in United States
(increase, ) -19,948 43,551 37,619
23 U.S. Treasury securities -9,921 12,177 -10,233
24 Other U.S. government
obligations 6,332 20,350 40,909
25 Other U.S. government
liabilities (2) -3,371 -2,855 -1,987
26 Other U.S. liabilities
reported by U.S.
Banks (2) -9,501 12,964 5,803
27 Other foreign official
assets (3) -3,487 915 3,127
28 Change in foreign private
assets in United States
(increase, ) 524,412 770,193 986,599
29 U.S. bank-reported
liabilities (4) 39,769 54,232 87,953
30 U.S. nonbank-reported
liabilities 23,140 69,075 177,010
31 Foreign private purchases
of U.S. Treasury
securities, net 48,581 -20,490 -52,792
32 U.S. currency flows 16,622 22,407 1,129
33 Foreign purchases of other
U.S. securities, net 218,091 343,963 485,644
34 Foreign direct investments
in United States, net 178,209 301,006 287,655
35 Capital account transactions,
net (5) 678 -3,491 705
36 Discrepancy 71,947 -48,822 696
37 Due to seasonal adjustment ... ... ...
38 Before seasonal adjustment 71,947 -48,822 696
MEMO
Changes in official assets
39 U.S. official reserve assets
(increase, -) -6,783 8,747 -290
40 Foreign official assets in
United States, excluding
line 25 (increase, ) -16,577 46,406 39,606
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States (part of
line 22) -11,531 1,621 11,582
2000
Item credits or debits Q2 Q3 Q4
1 Balance on carrent account -108,134 -115,305 -116,324
2 Balance on goods and
services -90,784 -97,340 -100,293
3 Exports 265,822 272,497 270,131
4 Imports -356,606 -369,837 -370,424
5 Income, net -4,889 -4,885 642
6 Investment, net -3,589 -3,620 1,971
7 Direct 18,117 21,049 25,703
8 Portfolio -21,706 -24,669 -23,732
9 Compensation of employees -1,300 -1,265 -1,329
10 Unilateral cuitent transfers,
net -12,461 -13,080 -16,673
11 Change in U.S. government
assets other than official
reserve assets, net
(increase, -) -572 114 -359
12 Change in U.S. Official
reserve assets
(increase, -) 2,020 -346 -1,410
13 Gold 0 0 0
14 Special drawing rights
(SDRs) -180 -182 -180
15 Reserve position in
International Monetary
Fund 2,328 1,300 -1,083
16 Foreign currencies -128 -1,464 -147
17 Change in U.S. private assets
abroad (increase, -) -95,021 -107,495 -179,779
18 Bank-reported claims (2) 7,455 -18,147 -71,574
19 Nonbank-reported claims -29,491 -14,585 -44,514
20 U.S. purchase of foreign
securities, net -39,639 -33,129 -24,621
21 U.S. direct investments
abroad, net -33,346 -41,634 -39,070
22 Change in foreign oflicial
assets in United States
(increase, ) 6,447 12,247 -3,573
23 U.S. Treasury securities -4,000 -9,001 -13,436
24 Other U.S. government
obligations 10,334 14,272 8,196
25 Other U.S. government
liabilities (2) -1,000 -220 -293
26 Other U.S. liabilities
reported by U.S.
Banks (2) 209 6,884 980
27 Other foreign official
assets (3) 904 312 980
28 Change in foreign private
assets in United States
(increase, ) 243,560 209,861 298,894
29 U.S. bank-reported
liabilities (4) 53,923 -1,910 43,365
30 U.S. nonbank-reported
liabilities 24,400 19,078 48,344
31 Foreign private purchases
of U.S. Treasury
securities, net -20,546 -12,503 -10,395
32 U.S. currency flows 989 757 6,230
33 Foreign purchases of other
U.S. securities, net 94,400 128,393 126,643
34 Foreign direct investments
in United States, net 90,394 76,046 84,707
35 Capital account transactions,
net (5) 173 175 184
36 Discrepancy -48,473 749 2,367
37 Due to seasonal adjustment -2,380 -9,977 3,856
38 Before seasonal adjustment -46,093 10,726 -1,489
MEMO
Changes in offickd assets
39 U.S. official reserve assets
(increase, -) 2,020 -346 -1,410
40 Foreign official assets in
United States, excluding
line 25 (increase, ) 7,447 12,467 -3,280
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States (part of
line 22) 1,639 3,636 164
2001
Item credits or debits Q1 Q2
1 Balance on carrent account -111,778 -106,498
2 Balance on goods and
services -95,023 -88,938
3 Exports 269,092 260,507
4 Imports -364,115 -349,445
5 Income, net -5,021 -5,493
6 Investment, net -3,661 -4,156
7 Direct 22,673 23,086
8 Portfolio -26,334 -27,242
9 Compensation of employees -1,360 -1,337
10 Unilateral cuitent transfers,
net -11,734 -12,067
11 Change in U.S. government
assets other than official
reserve assets, net
(increase, -) 21 -761
12 Change in U.S. Official
reserve assets
(increase, -) 190 -1,343
13 Gold 0 0
14 Special drawing rights
(SDRs) -189 -156
15 Reserve position in
International Monetary
Fund 574 -1,015
16 Foreign currencies -195 -172
17 Change in U.S. private assets
abroad (increase, -) -243,331 -61,218
18 Bank-reported claims (2) -109,789 9,191
19 Nonbank-reported claims -61,011 13,433
20 U.S. purchase of foreign
securities, net -31,591 -48,240
21 U.S. direct investments
abroad, net -40,940 -35,602
22 Change in foreign oflicial
assets in United States
(increase, ) 4,898 -22,430
23 U.S. Treasury securities -1,027 -20,781
24 Other U.S. government
obligations 3,574 9,932
25 Other U.S. government
liabilities (2) -1,246 -1,138
26 Other U.S. liabilities
reported by U.S.
Banks (2) 2,594 -11,471
27 Other foreign official
assets (3) 1,003 1,028
28 Change in foreign private
assets in United States
(increase, ) 341,762 210,432
29 U.S. bank-reported
liabilities (4) 6,890 50,123
30 U.S. nonbank-reported
liabilities 130,624 -34,022
31 Foreign private purchases
of U.S. Treasury
securities, net 656 -8,275
32 U.S. currency flows 2,311 2,772
33 Foreign purchases of other
U.S. securities, net 148,809 132,671
34 Foreign direct investments
in United States, net 52,472 67,163
35 Capital account transactions,
net (5) 173 177
36 Discrepancy 8,065 -18,359
37 Due to seasonal adjustment 8,821 -1,868
38 Before seasonal adjustment -756 -16,491
MEMO
Changes in offickd assets
39 U.S. official reserve assets
(increase, -) 190 -1,343
40 Foreign official assets in
United States, excluding
line 25 (increase, ) 6,144 -21,292
41 Change in Organization of
Petroleum Exporting
Countries official assets
in United States (part of
line 22) 589 -1,878
(1.) Seasonal factors are not calculated for lines 11-16, 18-20,
22-35, and 38-41.
(2.) Associated primarily with military sales contracts and other
transactions arranged with or through foreign official agencies,
(3.) Consists of investments in U.S. corporate stocks and in debt
securities of private corporations and state and local governments.
(4.) Reporting banks included all types of depository institutions as
well as some brokers and dealers.
(5.) Consists of capital transfers (such as those of accompanying
migrants entering or leaving the country and debt forgiveness) and
the acquisition and disposal of nonproduced nonfinancial assets.
SOURCE. U.S. Department of Commerce, Bureau of Economic Analysis,
Survey of Current Business.
3.11 U.S. FOREIGN TRADE (1)
Millions of dollars; monthly data seasonally adjusted
Item 1998 1999 2000
1 Goods and services,
balance -166,686 -261,838 -375,739
2 Merchandise -246,855 -345,434 -452,207
3 Services 79,868 83,596 76,468
4 Goods and services,
exports 933,053 957,353 1,065,702
5 Merchandise 670,324 684,553 772,210
6 Services 262,729 272,800 293,492
7 Goods and services,
imports -1,099,739 -1,219,191 -1,441,441
8 Merchandise -917,179 -1,029,987 -1,224,417
9 Services -182,560 -189,204 -217,024
2001
Item Feb. Mar. Apr. May
1 Goods and services,
balance -28,675 -32,957 -31,518 -28,210
2 Merchandise -34,614 -38,781 -37,656 -34,449
3 Services 5,939 5,824 6,138 6,239
4 Goods and services,
exports 90,395 88,636 87,064 87,571
5 Merchandise 65,748 63,884 62,170 62,846
6 Services 24,647 24,752 24,894 24,725
7 Goods and services,
imports -119,070 -121,593 -118,582 -115,781
8 Merchandise -100,362 -102,665 -99,826 -97,295
9 Services -18,708 -18,928 -18,756 -18,486
2001
Item June July (r) Aug. (p)
1 Goods and services,
balance -29,068 -29,168 -27,106
2 Merchandise -35,553 -35,838 -34,073
3 Services 6,485 6,670 6,967
4 Goods and services,
exports 85,898 83,595 84,513
5 Merchandise 60,848 58,688 59,533
6 Services 25,050 24,907 24,980
7 Goods and services,
imports -114,966 -112,763 -111,619
8 Merchandise -96,401 -94,526 -93,606
9 Services -18,565 -18,237 -18,013
(1.) Data show monthly values consistent with quarterly figures
in the U.S. balance of payments accounts.
SOURCE. FT900, U.S. Department of Commerce, Bureau of the Census
and Bureau of Economic Analysis.
3.12 U.S. RESERVE ASSETS
Millions of dollars, end of period
Asset 1998 1999 2000
1 Total 81,761 71,516 67,647
2 Gold stock (1) 11,046 11,048 11,046
3 Special drawing
rights (2,3) 10,603 10,336 10,539
4 Reserve position in
International
Monetary Fund (2) 24,111 17,950 14,824
5 Foreign currencies (4) 36,001 32,182 31,238
2001
Asset Mar. Apr. May June
1 Total 64,222 64,731 65,254 64,847
2 Gold stock (1) 11,046 11,046 11,044 11,044
3 Special drawing
rights (2,3) 10,379 10,420 10,481 10,409
4 Reserve position in
International
Monetary Fund (2) 13,777 13,816 14,283 14,619
5 Foreign currencies (4) 29,020 29,449 29,446 28,775
2001
Asset July Aug. Sept. Oct. (p)
1 Total 65,736 67,852 70,963 (r) 69,707
2 Gold stock (1) 11,044 11,044 11,045 (r) 11,045
3 Special drawing
rights (2,3) 10,518 10,913 10,919 10,827
4 Reserve position in
International
Monetary Fund (2) 14,965 15,297 18,404 17,787
5 Foreign currencies (4) 29,209 30,598 30,595 30,048
(1.) Gold held "under earmark" at Federal Reserve Banks for foreign
and international accounts is not included in the gold stock of the
United States; see table 3.13, line 3. Gold stock is valued at
$42.22 per fine troy ounce.
(2.) Special drawing rights (SDRs) are valued according to a technique
adopted by the International Monetary Fund (IMF) in July 1974. Values
are based on a weighted average of exchange rates for the currencies of
member countries. From July 1974 through December 1980, sixteen
currencies were used; since January 1981, five currencies have been
used. U.S. SDR holdings and reserve positions in the IMF also have been
valued on this basis since July 1974.
(3.) Includes allocations of SDRs by the International Monetary Fund
on Jan. 1 of the year indicated as follows: 1970-$867 million;
1971-$717 million; 1972-$710 million; 1979-$1,139 million;
1980-$1,152 million; 1981-$1,093 million; plus net transaction in SDRs.
(4.) Valued at current market exchanging rates.
3.13 FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS (1)
Millions of dollars, end of period
Asset 1998 1999 2000
1 Deposits 167 71 215
Held in custody
2 U.S. Treasury securities (2) 607,574 632,482 594,094
3 Earmarked gold (3) 10,343 9,933 9,451
2001
Asset Mar. Apr. May June
1 Deposits 70 101 86 102
Held in custody
2 U.S. Treasury securities (2) 609,440 585,710 583,655 586,607
3 Earmarked gold (3) 9,289 9,215 9,154 9,100
2001
Oct.
Asset July Aug. Sept. (p)
1 Deposits 84 80 608 75
Held in custody
2 U.S. Treasury securities (2) 578,573 590,820 587,566 599,043
3 Earmarked gold (3) 9,100 9,100 9,100 9,099
(1.) Excludes deposits and U.S. Treasury securities held for
international and regional organizations
(2.) Marketable U.S. Treasury bills, notes, and bonds and
nonmarketable U.S. Treasury securities, in each case measured
at face (not market) value.
(3.) Held in foreign and international accounts and valued at $42.22
per fine troy ounce; not included in the gold stock of the United
States.
3.15 SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2001
Item 1999 2000 Feb.
1 Total (1) 806,318 845,869 (r) 864,528 (r)
By type
2 Liabilities reported by banks
in the United States (2) 138,847 144,593 (r) 155,098 (r)
3 U.S. Treasury bills and
certificates (3) 156,177 153,010 155,667
U.S. Treasury bonds and notes
4 Marketable 422,266 415,964 418,857
5 Nonmarketable (4) 6,111 5,348 4,953
6 U.S. securities other than
U.S. Treasury
securities (5) 82,917 126,954 129,953
By area
7 Europe (1) 244,805 253,592 256,180
8 Canada 12,503 12,394 10,794
9 Latin America and Caribbean 73,518 76,753 (r) 80,324 (r)
10 Asia 463,703 488,170 501,486
11 Africa 7,523 9,165 9,586
12 Other countries 4,266 5,795 6,158
2001
Item Mar. Apr.
1 Total (1) 865,426 (r) 855,098 (r)
By type
2 Liabilities reported by banks
in the United States (2) 154,601 (r) 158,387 (r)
3 U.S. Treasury bills and
certificates (3) 155,204 144,158
U.S. Treasury bonds and notes
4 Marketable 419,106 410,066
5 Nonmarketable (4) 4,984 5,017
6 U.S. securities other than
U.S. Treasury
securities (5) 131,531 137,470
By area
7 Europe (1) 250,042 247,128
8 Canada 10,396 10,474
9 Latin America and Caribbean 79,143 (r) 79,410 (r)
10 Asia 511,025 (r) 501,085 (r)
11 Africa 9,102 9,341
12 Other countries 5,340 7,660
2001
Item
May June
1 Total (1) 837,267 (r) 835,474 (r)
By type
2 Liabilities reported by banks
in the United States (2) 143,921 (r) 144,471 (r)
3 U.S. Treasury bills and
certificates (3) 137,933 139,195
U.S. Treasury bonds and notes
4 Marketable 410,979 407,736
5 Nonmarketable (4) 5,049 5,081
6 U.S. securities other than
U.S. Treasury
securities (5) 139,385 138,991
By area
7 Europe (1) 251,505 252,391 (r)
8 Canada 10,967 11,573
9 Latin America and Caribbean 76,135 (r) 79,094 (r)
10 Asia 482,990 (r) 478,284 (r)
11 Africa 9,272 9,054
12 Other countries 6,398 5,078
2001
Item
July Aug. (p)
1 Total (1) 845,155 (r) 837,390
By type
2 Liabilities reported by banks
in the United States (2) 151,858 (r) 135,554
3 U.S. Treasury bills and
certificates (3) 143,288 151,850
U.S. Treasury bonds and notes
4 Marketable 406,995 407,338
5 Nonmarketable (4) 4,846 4,805
6 U.S. securities other than
U.S. Treasury
securities (5) 138,168 137,843
By area
7 Europe (1) 262,830 260,288
8 Canada 11,727 11,933
9 Latin America and Caribbean 79,359 (r) 74,580
10 Asia 475,475 (r) 474,659
11 Africa 10,574 9,864
12 Other countries 5,190 6,066
(1.) Includes the Bank for International Settlements.
(2.) Principally demand deposits, time deposits, bankers acceptances,
commercial paper, negotiable time certificates of deposit, and
borrowings under repurchase agreements.
(3.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(4.) Excludes notes issued to foreign official nonreserve agencies.
Includes current value of zero-coupon Treasury bond issues to foreign
governments as follows: Mexico, beginning March 1988, 20-year maturity
issue, and beginning March 1990, 30-year maturity issue; Venezuela,
beginning December 1990, 30-year maturity issue; Argentina, beginning
April 1993, 30-year maturity issue.
(5.) Debt securities of U.S. government corportions and federally
sponsored agencies, and U.S. corporate stocks and bonds.
SOURCE. Based on U.S. Department of the Treasury data and on data
reported to the department by banks (including Federal Reserve
Banks) and securities dealers in the United States, and on the
1994 benchmark survey of foreign portfolio investment in the United
States.
3.16 LIABILITIES TO, AND CLAIMS ON, FOREIGNERS Reported by Banks
in the United States (1)
Payable in Foreign Currencies
Millions of dollars, end of period
Item 1997 1998 1999
1 Banks' liabilities 117,524 101,125 88,537
2 Banks' claims 83,038 78,162 67,365
3 Deposits 28,661 45,985 34,426
4 Other claims 54,377 32,177 32,939
5 Claims of banks'
domestic customers (2) 8,191 20,718 20,826
2000 2001
Item Sept. Dec. Mar. June
1 Banks' liabilities 78,852 76,345 89,394 107,593
2 Banks' claims 60,355 56,647 73,179 77,423
3 Deposits 26,306 23,292 29,902 32,765
4 Other claims 34,049 33,355 43,277 44,658
5 Claims of banks'
domestic customers (2) 19,123 24,411 21,105 21,144
(1.) Data on claims exclude foreign currencies held by U.S. monetary
authorities.
(2.) Assets owned by customers of the reporting bank located in the
United States that represent claims on foreigners held by reporting
banks for the accounts of the domestic customers.
3.17 LIABILITIES TO FOREIGNERS Reported by Banks in the United
States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Item 1998 1999 2000
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,347,837 1,408,740 1,511,379 (r)
2 Banks' own liabilities 884,939 971,536 1,077,605 (r)
3 Demand deposits 29,558 42,884 33,365
4 Time deposits (2) 151,761 163,620 187,883 (r)
5 Other (3) 140,752 155,853 171,400 (r)
6 Own foreign offices (4) 562,868 609,179 684,957 (r)
7 Banks' custodial
liabilities (5) 462,898 437,204 433,774 (r)
8 U.S. Treasury bills and
certificates (6) 183,494 185,676 177,846
9 Short-term agency
securities (7) n.a. n.a. n.a.
10 Other negotiable and
readily transferable
instruments (8) 141,699 132,617 145,840
11 Other 137,705 118,911 110,088 (r)
12 Nonmonetary international
and regional
organizations (9) 11,883 15,276 12,542
13 Banks' own liabilities 10,850 14,357 12,140
14 Demand deposits 172 98 41
15 Time deposits (2) 5,793 10,349 6,246
16 Other (3) 4,885 3,910 5,853
17 Banks' custodial
liabilities (5) 1,033 919 402
18 U.S. Treasury bills and
certificates (6) 636 680 252
19 Short-term agency
securities (7) n.a. n.a. n.a.
20 Other negotiable and
readily transferable
instruments (8) 397 233 149
21 Other 0 6 1
22 Official institutions (10) 260,060 295,024 297,603 (r)
23 Banks' own liabilities 80,256 97,615 96,989 (r)
24 Demand deposits 3,003 3,341 3,952
25 Time deposits (2) 29,506 28,942 35,573 (r)
26 Other (3) 47,747 65,332 57,464
27 Banks' custodial
liabilities (5) 179,804 197,409 200,614
28 U.S. Treasury bills and
certificates (6) 134,177 156,177 153,010
29 Short-term agency
securities (7) n.a. n.a. n.a.
30 Other negotiable and
readily transferable
instruments (8) 44,953 41,182 47,366
31 Other 674 50 238
32 Banks (11) 885,336 900,379 972,902 (r)
33 Banks' own liabilities 676,057 728,492 821,276 (r)
34 Unaffiliated foreign
banks 113,189 119,313 136,319 (r)
35 Demand deposits 14,071 17,583 15,522
36 Time deposits (2) 45,904 48,140 66,904 (r)
37 Other (3) 53,214 53,590 53,893 (r)
38 Own foreign offices
(4) 562,868 609,179 684,957 (r)
39 Banks' custodial
liabilities (5) 209,279 171,887 151,626 (r)
40 U.S. Treasury bills and
certificates (6) 35,359 16,796 16,023
41 Short-term agency
securities (7) n.a. n.a. n.a.
42 Other negotiable and
readily transferable
instruments (8) 45,332 45,695 36,036
43 Other 128,588 109,396 99,567 (r)
44 Other foreigners 190,558 198,061 228,332 (r)
45 Banks' own liabilities 117,776 131,072 147,200 (r)
46 Demand deposits 12,312 21,862 13,850
47 Time deposits (2) 70,558 76,189 79,160 (r)
48 Other (3) 34,906 33,021 54,190 (r)
49 Banks' custodial
liabilities (5) 72,782 66,989 81,132
50 U.S. Treasury bills and
certificates (6) 13,322 12,023 8,561
51 Short-term agency
securities (7) n.a. n.a. n.a.
52 Other negotiable and
readily transferable
instruments (8) 51,017 45,507 62,289
53 Other 8,443 9,459 10,282
MEMO
54 Negotiable time
certificates of deposits
in custody for
foreigners 27,026 30,345 34,217
55 Repurchase agreements (7) n.a. n.a. n.a.
56 Total, all foreigners 1,347,837 1,408,740 1,511,379 (r)
57 Foreign countries 1,335,954 1,393,464 1,498,836 (r)
58 Europe 427,375 441,810 446,788 (r)
59 Austria 3,178 2,789 2,692
60 Belgium (12) 42,818 44,692 33,399
61 Denmark 1,437 2,196 3,000
62 Finland 1,862 1,658 1,411
63 France 44,616 49,790 37,833
64 Germany 21,357 24,753 35,519
65 Greece 2,066 3,748 2,011
66 Italy 7,103 6,775 5,072
67 Luxembourg (12) n.a. n.a. n.a.
68 Netherlands 10,793 8,143 7,047 (r)
69 Norway 710 1,327 2,305
70 Portugal 3,236 2,228 2,403
71 Russia 2,439 5,475 19,018
72 Spain 15,781 10,426 7,787
73 Sweden 3,027 4,652 6,497
74 Switzerland 50,654 63,485 74,635
75 Turkey 4,286 7,842 7,548
76 United Kingdom 181,554 172,687 167,757 (r)
77 Channel Islands & Isle
of Man (13) n.a. n.a. n.a.
78 Yugoslavia (14) 233 286 276
79 Other Europe and other
former U.S.S.R. (15) 30,225 28,858 30,578
80 Canada 30,212 34,214 30,982 (r)
81 Latin America 121,327 117,495 120,040 (r)
82 Argentina 19,014 18,633 19,451 (r)
83 Brazil 15,815 12,865 10,852
84 Chile 5,015 7,008 5,892
85 Colombia 4,624 5,669 4,542
86 Ecuador 1,572 1,956 2,111
87 Guatemala 1,336 1,626 1,601 (r)
88 Mexico 37,157 30,717 32,166 (r)
89 Panama 3,864 4,415 4,240 (r)
90 Peru 840 1,142 1,427
91 Uruguay 2,486 2,386 3,003
92 Venezuela 19,894 20,192 24,730 (r)
93 Other Latin America (16) 9,710 10,886 10,025 (r)
94 Caribbean 433,539 461,200 573,337 (r)
95 Bahamas 118,085 135,811 189,298 (r)
96 Bermuda 6,846 7,874 9,636 (r)
97 British West Indies (17) 302,486 312,278 367,197 (r)
98 Cayman Islands (17) n.a. n.a. n.a.
99 Cuba 62 75 90
100 Jamaica 577 520 794 (r)
101 Netherlands Antilles 5,010 4,047 5,428
102 Trinidad and Tobago 473 595 894 (r)
103 Other Caribbean (16) n.a. n.a. n.a.
104 Asia 307,960 319,489 305,524 (r)
China
105 Mainland 13,441 12,325 16,531 (r)
106 Taiwan 12,708 13,603 17,352
107 Hong Kong 20,900 27,701 26,462
108 India 5,250 7,367 4,530
109 Indonesia 8,282 6,567 8,514
110 Israel 7,749 7,488 8,053
111 Japan 168,563 159,075 150,415
112 Korea (South) 12,524 12,988 7,955 (r)
113 Philippines 3,324 3,268 2,316
114 Thailand 7,359 6,050 3,117
115 Middle Eastern oil-
exporting countries
(18) 15,609 21,314 23,733
116 Other 32,251 41,743 36,546 (r)
117 Africa 8,905 9,468 10,824
118 Egypt 1,339 2,022 2,621
119 Morocco 97 179 139
120 South Africa 1,522 1,495 1
121 Congo (formerly Zaire) 5 14 4
122 Oil-exporting countries
(19) 3,088 2,914 4
123 Other 2,854 2,844 2,998
124 Other countries 6,636 9,788 11,341 (r)
125 Australia 5,495 8,377 10,070
126 New Zealand (20) n.a. n.a. n.a.
127 All other 1,141 1,411 1,271 (r)
128 Nonmonetary international
and regional
organizations 11,883 15,276 12,543
129 International (21) 10,221 12,876 11,270
130 Latin American regional
(22) 594 1,150 740
131 Other regional (23) 1,068 1,250 533
2001
Item Feb. (r) Mar. (r) Apr. (r)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,531,555 1,505,606 1,529,883 (r)
2 Banks' own liabilities 1,084,602 1,076,302 1,093,322 (r)
3 Demand deposits 35,777 33,918 30,210 (r)
4 Time deposits (2) 189,859 182,257 189,539 (r)
5 Other (3) 198,604 200,280 202,213 (r)
6 Own foreign offices (4) 660,362 659,847 671,360 (r)
7 Banks' custodial
liabilities (5) 446,953 429,304 436,561 (r)
8 U.S. Treasury bills and
certificates (6) 179,277 171,823 160,628
9 Short-term agency
securities (7) 74,281 71,454 69,543
10 Other negotiable and
readily transferable
instruments (8) 73,847 65,154 77,595
11 Other 119,548 120,873 128,795 (r)
12 Nonmonetary international
and regional
organizations (9) 11,578 12,290 12,833
13 Banks' own liabilities 11,202 11,746 12,344
14 Demand deposits 19 23 14
15 Time deposits (2) 4,966 5,302 5,301
16 Other (3) 6,217 6,421 7,029
17 Banks' custodial
liabilities (5) 376 544 489
18 U.S. Treasury bills and
certificates (6) 248 229 170
19 Short-term agency
securities (7) 108 137 144
20 Other negotiable and
readily transferable
instruments (8) 15 177 175
21 Other 5 1 0
22 Official institutions (10) 310,765 309,805 302,545 (r)
23 Banks' own liabilities 99,537 97,028 103,454 (r)
24 Demand deposits 4,444 3,511 2,552
25 Time deposits (2) 29,892 27,959 31,985 (r)
26 Other (3) 65,201 65,558 68,917 (r)
27 Banks' custodial
liabilities (5) 211,228 212,777 199,091
28 U.S. Treasury bills and
certificates (6) 155,667 155,204 144,158
29 Short-term agency
securities (7) 49,594 53,295 51,107
30 Other negotiable and
readily transferable
instruments (8) 5,325 4,064 3,325
31 Other 642 214 501
32 Banks (11) 974,166 959,982 965,770 (r)
33 Banks' own liabilities 814,628 812,712 816,632 (r)
34 Unaffiliated foreign
banks 154,266 152,865 145,272 (r)
35 Demand deposits 12,601 16,433 13,030 (r)
36 Time deposits (2) 77,396 72,926 72,535 (r)
37 Other (3) 64,269 63,506 59,707 (r)
38 Own foreign offices
(4) 660,362 659,847 671,360 (r)
39 Banks' custodial
liabilities (5) 159,538 147,270 149,138 (r)
40 U.S. Treasury bills and
certificates (6) 13,909 7,922 7,233
41 Short-term agency
securities (7) 8,007 2,324 2,824
42 Other negotiable and
readily transferable
instruments (8) 30,260 27,817 25,271
43 Other 107,362 109,207 113,810 (r)
44 Other foreigners 235,046 223,529 248,735 (r)
45 Banks' own liabilities 159,235 154,816 160,892 (r)
46 Demand deposits 18,713 13,951 14,614 (r)
47 Time deposits (2) 77,605 76,070 79,718 (r)
48 Other (3) 62,917 64,795 66,560 (r)
49 Banks' custodial
liabilities (5) 75,811 68,713 87,843
50 U.S. Treasury bills and
certificates (6) 9,453 8,468 9,067
51 Short-term agency
securities (7) 16,572 15,698 15,468
52 Other negotiable and
readily transferable
instruments (8) 38,247 33,096 48,824
53 Other 11,539 11,451 14,484
MEMO
54 Negotiable time
certificates of deposits
in custody for
foreigners 30,277 24,518 26,238
55 Repurchase agreements (7) 120,500 129,671 119,577
56 Total, all foreigners 1,531,555 1,505,606 1,529,883
57 Foreign countries 1,519,976 1,493,315 1,517,049
58 Europe 447,296 429,577 431,269
59 Austria 2,094 2,178 2,771
60 Belgium (12) 5,709 5,432 5,309
61 Denmark 4,182 2,919 3,412
62 Finland 1,667 1,286 1,769
63 France 45,435 42,758 39,125
64 Germany 30,382 30,863 29,589
65 Greece 1,965 1,496 1,336
66 Italy 5,073 5,853 5,270
67 Luxembourg (12) 24,234 12,585 14,505
68 Netherlands 8,143 7,079 10,140
69 Norway 6,332 8,362 4,806
70 Portugal 2,625 1,731 1,949
71 Russia 19,029 18,625 19,917
72 Spain 8,244 9,503 7,750
73 Sweden 5,959 6,738 6,025
74 Switzerland 64,447 54,038 65,998
75 Turkey 5,394 5,646 4,549
76 United Kingdom 134,267 147,123 137,957
77 Channel Islands & Isle
of Man (13) 43,087 36,040 36,013
78 Yugoslavia (14) 292 292 303
79 Other Europe and other
former U.S.S.R. (15) 28,736 29,030 32,776
80 Canada 23,940 24,273 27,962
81 Latin America 121,144 114,697 117,498
82 Argentina 18,070 12,932 14,599
83 Brazil 11,414 10,576 10,853
84 Chile 5,926 5,176 5,449
85 Colombia 4,463 4,362 4,619
86 Ecuador 2,280 2,202 2,185
87 Guatemala 1,541 1,515 1,562
88 Mexico 34,971 34,105 34,272
89 Panama 3,883 4,034 3,475
90 Peru 1,469 1,792 1,770
91 Uruguay 2,846 3,366 3,410
92 Venezuela 27,177 27,462 27,891
93 Other Latin America (16) 7,104 7,175 7,413
94 Caribbean 588,612 582,825 605,855
95 Bahamas 185,354 174,156 177,506
96 Bermuda 8,070 8,402 8,316
97 British West Indies (17) 0 n.a. n.a.
98 Cayman Islands (17) 375,454 381,129 401,809
99 Cuba 84 85 83
100 Jamaica 916 1,207 867
101 Netherlands Antilles 5,489 4,510 4,523
102 Trinidad and Tobago 875 1,038 1,114
103 Other Caribbean (16) 12,370 12,298 11,637
104 Asia 317,002 320,705 311,175
China
105 Mainland 31,171 39,924 34,689
106 Taiwan 18,192 17,891 19,963
107 Hong Kong 27,677 29,103 26,581
108 India 4,060 4,547 4,113
109 Indonesia 9,027 8,605 10,728
110 Israel 7,263 8,803 7,095
111 Japan 150,805 146,446 144,859
112 Korea (South) 6,673 6,541 5,370
113 Philippines 1,430 1,461 1,643
114 Thailand 3,456 3,253 2,935
115 Middle Eastern oil-
exporting countries
(18) 21,615 21,651 20,518
116 Other 35,633 32,480 32,681
117 Africa 10,983 10,566 10,659
118 Egypt 2,336 2,282 2,213
119 Morocco 139 133 139
120 South Africa 915 652 791
121 Congo (formerly Zaire) 10 8 5
122 Oil-exporting countries
(19) 4,750 4,593 4,752
123 Other 2,833 2,898 2,759
124 Other countries 10,999 10,672 12,631
125 Australia 9,528 9,472 11,382
126 New Zealand (20) 328 427 503
127 All other 1,143 773 746
128 Nonmonetary international
and regional
organizations 11,579 12,291 12,834
129 International (21) 10,793 11,379 11,335
130 Latin American regional
(22) 223 272 327
131 Other regional (23) 534 640 620
2001
Item May June
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,532,548 (r) 1,518,912 (r)
2 Banks' own liabilities 1,115,113 (r) 1,096,181 (r)
3 Demand deposits 29,123 (r) 32,887 (r)
4 Time deposits (2) 181,613 (r) 180,645 (r)
5 Other (3) 207,146 212,874
6 Own foreign offices (4) 697,231 (r) 669,775 (r)
7 Banks' custodial
liabilities (5) 417,435 422,731
8 U.S. Treasury bills and
certificates (6) 155,924 156,440
9 Short-term agency
securities (7) 62,425 60,081
10 Other negotiable and
readily transferable
instruments (8) 80,260 78,052
11 Other 118,826 128,158
12 Nonmonetary international
and regional
organizations (9) 14,668 13,818
13 Banks' own liabilities 14,342 13,479
14 Demand deposits 15 28
15 Time deposits (2) 3,532 4,228
16 Other (3) 10,795 9,223
17 Banks' custodial
liabilities (5) 326 339
18 U.S. Treasury bills and
certificates (6) 105 68
19 Short-term agency
securities (7) 132 134
20 Other negotiable and
readily transferable
instruments (8) 87 137
21 Other 2 0
22 Official institutions (10) 281,854 (r) 283,666 (r)
23 Banks' own liabilities 96,696 (r) 100,053 (r)
24 Demand deposits 2,522 2,465
25 Time deposits (2) 26,625 (r) 32,752 (r)
26 Other (3) 67,549 64,836 (r)
27 Banks' custodial
liabilities (5) 185,158 183,613
28 U.S. Treasury bills and
certificates (6) 137,933 139,195
29 Short-term agency
securities (7) 43,193 40,301
30 Other negotiable and
readily transferable
instruments (8) 3,509 3,647
31 Other 523 470
32 Banks (11) 989,736 (r) 969,297 (r)
33 Banks' own liabilities 845,646 (r) 816,676 (r)
34 Unaffiliated foreign
banks 148,415 (r) 146,901 (r)
35 Demand deposits 12,143 15,211
36 Time deposits (2) 70,700 (r) 64,249 (r)
37 Other (3) 65,572 67,441 (r)
38 Own foreign offices
(4) 697,231 (r) 669,775 (r)
39 Banks' custodial
liabilities (5) 144,090 152,621
40 U.S. Treasury bills and
certificates (6) 8,535 8,455
41 Short-term agency
securities (7) 3,772 3,169
42 Other negotiable and
readily transferable
instruments (8) 27,856 27,314
43 Other 103,927 113,683
44 Other foreigners 246,290 (r) 252,131 (r)
45 Banks' own liabilities 158,429 (r) 165,973 (r)
46 Demand deposits 14,443 (r) 15,183 (r)
47 Time deposits (2) 80,756 (r) 79,416 (r)
48 Other (3) 63,230 71,374
49 Banks' custodial
liabilities (5) 87,861 86,158
50 U.S. Treasury bills and
certificates (6) 9,351 8,722
51 Short-term agency
securities (7) 15,328 16,477
52 Other negotiable and
readily transferable
instruments (8) 48,808 46,954
53 Other 14,374 14,005
MEMO
54 Negotiable time
certificates of deposits
in custody for
foreigners 25,912 24,884
55 Repurchase agreements (7) 119,901 126,508
56 Total, all foreigners 1,532,548 1,518,912 (r)
57 Foreign countries 1,517,879 1,505,093 (r)
58 Europe 464,636 458,130 (r)
59 Austria 2,593 2,026
60 Belgium (12) 5,895 6,270
61 Denmark 2,910 3,063
62 Finland 1,144 2,395
63 France 40,209 40,077
64 Germany 30,338 32,355 (r)
65 Greece 1,525 1,653
66 Italy 5,531 6,767 (r)
67 Luxembourg (12) 15,046 14,961
68 Netherlands 10,772 9,621
69 Norway 2,572 4,583
70 Portugal 2,041 2,287
71 Russia 21,357 22,839
72 Spain 7,886 7,413 (r)
73 Sweden 5,284 5,507
74 Switzerland 93,198 73,106
75 Turkey 7,169 5,485
76 United Kingdom 139,507 146,208 (r)
77 Channel Islands & Isle
of Man (13) 34,742 34,994
78 Yugoslavia (14) 301 297
79 Other Europe and other
former U.S.S.R. (15) 34,616 36,223
80 Canada 25,983 25,975 (r)
81 Latin America 113,460 117,508 (r)
82 Argentina 12,573 16,413 (r)
83 Brazil 11,258 12,585 (r)
84 Chile 5,701 5,491 (r)
85 Colombia 4,745 4,634 (r)
86 Ecuador 2,137 1,979 (r)
87 Guatemala 1,592 1,514 (r)
88 Mexico 33,178 33,338 (r)
89 Panama 3,638 3,510
90 Peru 1,535 1,616 (r)
91 Uruguay 3,332 3,026
92 Venezuela 26,920 26,968 (r)
93 Other Latin America (16) 6,851 6,434 (r)
94 Caribbean 600,378 598,231 (r)
95 Bahamas 190,142 187,472 (r)
96 Bermuda 7,019 7,815
97 British West Indies (17) n.a. n.a.
98 Cayman Islands (17) 385,784 384,436 (r)
99 Cuba 84 85
100 Jamaica 1,101 963 (r)
101 Netherlands Antilles 3,402 3,892 (r)
102 Trinidad and Tobago 1,237 1,272
103 Other Caribbean (16) 11,609 12,296 (r)
104 Asia 291,308 283,537 (r)
China
105 Mainland 23,156 15,390 (r)
106 Taiwan 18,119 19,862
107 Hong Kong 27,348 29,180
108 India 4,281 4,043
109 Indonesia 10,600 10,566 (r)
110 Israel 8,282 8,696
111 Japan 141,247 137,069 (r)
112 Korea (South) 5,380 6,239
113 Philippines 1,658 1,449 (r)
114 Thailand 3,295 3,310
115 Middle Eastern oil-
exporting countries
(18) 19,644 20,521
116 Other 28,298 27,212 (r)
117 Africa 10,601 10,508 (r)
118 Egypt 2,200 2,227
119 Morocco 116 102
120 South Africa 706 657
121 Congo (formerly Zaire) 2 14
122 Oil-exporting countries
(19) 4,740 4,645 (r)
123 Other 2,837 2,863
124 Other countries 11,513 11,204 (r)
125 Australia 10,406 9,839
126 New Zealand (20) 437 862
127 All other 670 503 (r)
128 Nonmonetary international
and regional
organizations 14,669 13,819
129 International (21) 12,965 12,836
130 Latin American regional
(22) 886 418
131 Other regional (23) 518 523
2001
Item July Aug. (p)
BY HOLDER AND TYPE OF
LIABILITY
1 Total, all foreigners 1,517,750 (r) 1,502,121
2 Banks' own liabilities 1,098,240 (r) 1,072,098
3 Demand deposits 29,950 (r) 33,673
4 Time deposits (2) 175,964 (r) 173,263
5 Other (3) 225,276 (r) 205,345
6 Own foreign offices (4) 667,050 (r) 659,817
7 Banks' custodial
liabilities (5) 419,510 430,023
8 U.S. Treasury bills and
certificates (6) 160,822 170,580
9 Short-term agency
securities (7) 61,471 62,801
10 Other negotiable and
readily transferable
instruments (8) 75,726 75,946
11 Other 121,491 120,696
12 Nonmonetary international
and regional
organizations (9) 11,255 13,214
13 Banks' own liabilities 11,020 12,983
14 Demand deposits 50 21
15 Time deposits (2) 2,896 2,738
16 Other (3) 8,074 10,224
17 Banks' custodial
liabilities (5) 235 231
18 U.S. Treasury bills and
certificates (6) 78 92
19 Short-term agency
securities (7) 132 117
20 Other negotiable and
readily transferable
instruments (8) 25 21
21 Other 0 1
22 Official institutions (10) 295,146 (r) 287,404
23 Banks' own liabilities 108,991 (r) 92,083
24 Demand deposits 2,169 2,934
25 Time deposits (2) 28,121 (r) 25,379
26 Other (3) 78,701 63,770
27 Banks' custodial
liabilities (5) 186,155 195,321
28 U.S. Treasury bills and
certificates (6) 143,288 151,850
29 Short-term agency
securities (7) 39,971 40,727
30 Other negotiable and
readily transferable
instruments (8) 2,686 2,558
31 Other 210 186
32 Banks (11) 956,314 (r) 950,836
33 Banks' own liabilities 810,342 (r) 805,638
34 Unaffiliated foreign
banks 143,292 (r) 145,821
35 Demand deposits 12,548 14,588
36 Time deposits (2) 64,094 (r) 64,421
37 Other (3) 66,650 66,812
38 Own foreign offices
(4) 667,050 (r) 659,817
39 Banks' custodial
liabilities (5) 145,972 145,198
40 U.S. Treasury bills and
certificates (6) 9,093 9,582
41 Short-term agency
securities (7) 2,535 2,421
42 Other negotiable and
readily transferable
instruments (8) 26,546 26,525
43 Other 107,798 106,670
44 Other foreigners 255,035 (r) 250,667
45 Banks' own liabilities 167,887 (r) 161,394
46 Demand deposits 15,183 (r) 16,130
47 Time deposits (2) 80,853 (r) 80,725
48 Other (3) 71,851 (r) 64,539
49 Banks' custodial
liabilities (5) 87,148 89,273
50 U.S. Treasury bills and
certificates (6) 8,363 9,056
51 Short-term agency
securities (7) 18,833 19,536
52 Other negotiable and
readily transferable
instruments (8) 46,469 46,842
53 Other 13,483 13,839
MEMO
54 Negotiable time
certificates of deposits
in custody for
foreigners 22,640 24,442
55 Repurchase agreements (7) 138,328 (r) 133,335
56 Total, all foreigners 1,517,750 (r) 1,502,121
57 Foreign countries 1,506,494 (r) 1,488,907
58 Europe 449,610 (r) 431,292
59 Austria 2,040 2,370
60 Belgium (12) 7,058 6,779
61 Denmark 2,596 3,294
62 Finland 1,574 1,011
63 France 42,710 40,268
64 Germany 32,333 27,540
65 Greece 2,288 2,607
66 Italy 5,877 (r) 4,761
67 Luxembourg (12) 14,568 14,341
68 Netherlands 11,372 (r) 11,595
69 Norway 3,539 3,993
70 Portugal 2,662 2,490
71 Russia 23,966 22,692
72 Spain 6,974 (r) 7,286
73 Sweden 4,111 3,233
74 Switzerland 65,929 52,889
75 Turkey 6,192 7,033
76 United Kingdom 137,206 (r) 138,086
77 Channel Islands & Isle
of Man (13) 35,018 35,748
78 Yugoslavia (14) 395 297
79 Other Europe and other
former U.S.S.R. (15) 41,202 42,979
80 Canada 26,377 (r) 27,146
81 Latin America 118,604 (r) 118,574
82 Argentina 13,294 (r) 11,150
83 Brazil 14,367 (r) 16,033
84 Chile 5,440 5,263
85 Colombia 4,396 (r) 4,582
86 Ecuador 2,142 (r) 2,167
87 Guatemala 1,527 (r) 1,463
88 Mexico 34,687 (r) 37,443
89 Panama 3,684 (r) 3,638
90 Peru 1,599 (r) 1,525
91 Uruguay 2,980 2,993
92 Venezuela 27,602 (r) 25,647
93 Other Latin America (16) 6,886 (r) 7
94 Caribbean 607,618 (r) 612,601
95 Bahamas 183,003 (r) 184,585
96 Bermuda 8,229 7,985
97 British West Indies (17) n.a. n.a.
98 Cayman Islands (17) 400,624 (r) 404,164
99 Cuba 88 45
100 Jamaica 975 (r) 967
101 Netherlands Antilles 3,207 (r) 3,793
102 Trinidad and Tobago 1,253 1,428
103 Other Caribbean (16) 10,239 (r) 9,634
104 Asia 283,100 (r) 276,902
China
105 Mainland 15,586 (r) 15,980
106 Taiwan 23,081 22,857
107 Hong Kong 26,843 23,496
108 India 4,413 4,078
109 Indonesia 11,630 (r) 11,986
110 Israel 8,710 7,717
111 Japan 134,246 130,981
112 Korea (South) 6,829 6,549
113 Philippines 1,624 (r) 1,781
114 Thailand 3,375 3,771
115 Middle Eastern oil-
exporting countries
(18) 19,190 20,666
116 Other 27,573 (r) 27,040
117 Africa 12,101 12,116
118 Egypt 3,486 3,607
119 Morocco 118 165
120 South Africa 802 1,286
121 Congo (formerly Zaire) 5 5
122 Oil-exporting countries
(19) 4,349 (r) 3,839
123 Other 3,341 (r) 3,214
124 Other countries 9,084 (r) 10,276
125 Australia 8,041 9,280
126 New Zealand (20) 501 517
127 All other 542 (r) 479
128 Nonmonetary international
and regional
organizations 11,256 13,214
129 International (21) 10,241 12,090
130 Latin American regional
(22) 441 509
131 Other regional (23) 502 558
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers. Excludes bonds and notes of
maturities longer than one year.
(2.) Excludes negotiable time certificates deposit, which are included
in "Other negotiable and readily transferable instruments."
(3.) Includes borrowing under repurchase agreements.
(4.) For U.S. banks, includes amounts owed to own foreign branches and
foreign subsidiaries consolidated in quarterly Consolidated Reports of
Condition filed with bank regulatory agencies. For agencies, branches,
and majority-owned subsidiaries of foreign banks, consists principally
of amounts owed to the head office or parent foreign bank, and to
foreign branches, agencies, or wholly owned subsidiaries of the head
office or parent foreign bank.
(5.) Financial claims on residents of the United States, other than
long-term securities, held by or through reporting banks fore foreign
customers.
(6.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(7.) Data available beginning January 2001.
(8.) Principally bankers acceptances, commercial paper, and negotiable
time certificates of deposit.
(9.) Principally the International Bank for Reconstruction and
Development, the Inter-American Development Bank, and the Asian
Development Bank. Excludes "holdings of dollars" of the International
Monetary Fund.
(10.) Foreign central banks, foreign central governments, and the Bank
for International Settlements.
(11.) Excludes central banks, which are included in "Official
institutions."
(12.) Before January 2001, data for Belgium-Luxembourg were combined.
(13.) Before January 2001, these data were included in data reported
for the United Kingdom.
(14.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(15.) Includes the Bank for International Settlements and the European
Central Bank. Since December 1992, has included all parts of the former
U.S.S.R. (except Russia), and Bosnia, Croatia, and Slovenia.
(16.) Before January 2001, data for "Other Latin America" and "Other
Caribbean" were combined in "Other Latin America and Caribbean."
(17.) Beginning January 2001, data for the Cayman Islands replaced data
for the British West Indies.
(18.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(19.) Comprises Algeria, Gabon, Libya, and Nigeria.
(20.) Before January 2001, these data were included in "All other."
(21.) Principally the International Bank for Reconstruction and
Development. Excludes "holdings of dollars" of the International
Monetary Fund.
(22.) Principally the Inter-American Development Bank.
(23.) Asian, African, Middle Eastern, and European regional
organizations, except the Bank for International Settlements, which is
included in "Other Europe."
3.18 BANKS' OWN CLAIMS ON FOREIGNERS Reported by Banks in the United
States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Area or country 1998 1999 2000
1 Total, all foreigners 734,995 793,139 904,777 (r)
2 Foreign countries 731,378 788,576 900,091 (r)
3 Europe 233,321 311,686 378,116 (r)
4 Austria 1,043 2,643 2,926
5 Belgium (2) 7,187 10,193 5,399
6 Denmark 2,383 1,669 3,272
7 Finland 1,070 2,020 7,382
8 France 15,251 29,142 40,035
9 Germany 15,923 29,205 36,834
10 Greece 575 806 646
11 Italy 7,284 8,496 7,629
12 Luxembourg (2) n.a. n.a. n.a.
13 Netherlands 5,697 11,810 17,043 (r)
14 Norway 827 1,000 5,012
15 Portugal 669 1,571 1,382
16 Russia 789 713 517
17 Spain 5,735 3,796 2,604
18 Sweden 4,223 3,264 9,226
19 Switzerland 46,874 79,158 82,085
20 Turkey 1,982 2,617 3,059
21 United Kingdom 106,349 115,971 144,938 (r)
22 Channel Islands and Isle of
Man (3) n.a. n.a. n.a.
23 Yugoslavian 53 50 50
24 Other Europe and other former
U.S.S.R. (5) 9,407 7,562 8,077
25 Canada 47,037 37,206 39,858 (r)
26 Latin America 79,976 74,040 76,588 (r)
27 Argentina 9,552 10,894 11,546
28 Brazil 16,184 16,987 20,567
29 Chile 8,250 6,607 5,815 (r)
30 Colombia 6,507 4,524 4,370
31 Ecuador 1,400 760 635
32 Guatemala 1,127 1,135 1,244 (r)
33 Mexico 21,212 17,899 17,415 (r)
34 Panama 3,584 3,387 2,933
35 Peru 3,275 2,529 2,807 (r)
36 Uruguay 1,126 801 673 (r)
37 Venezuela 3,089 3,494 3,518 (r)
38 Other Latin America (6) 4,670 5,023 5,065
39 Caribbean 262,678 281,128 319,431
40 Bahamas 96,455 99,066 114,090
41 Bermuda 5,011 8,007 9,281 (r)
42 British West Indies (7) 153,749 167,189 189,296 (r)
43 Cayman Islands (7) n.a. n.a. n.a.
44 Cuba 0 0 0
45 Jamaica 239 295 355
46 Netherlands Antilles 6,779 5,982 5,801
47 Trinidad and Tobago 445 589 608
48 Other Caribbean (6) n.a. n.a. n.a.
49 Asia 98,607 75,143 77,887
China
50 Mainland 1,261 2,110 1,606
51 Taiwan 1,041 1,390 2,247
52 Hong Kong 9,080 5,903 6,669
53 India 1,440 1,738 2,178
54 Indonesia 1,942 1,776 1,914
55 Israel 1,166 1,875 2,729
56 Japan 46,713 28,641 35,032
57 Korea (South) 8,289 9,426 7,776
58 Philippines 1,465 1,410 1,784
59 Thailand 1,807 1,515 1,381
60 Middle Eastern oil-exporting
countries (8) 16,130 14,267 9,346
61 Other 8,273 5,092 5,225
62 Africa 3,122 2,268 2,094
63 Egypt 257 258 201
64 Morocco 372 352 204
65 South Africa 643 622 309
66 Congo (formerly Zaire) 0 24 0
67 Oil-exporting countries (9) 936 276 471
68 Other 914 736 909
69 Other countries 6,637 7,105 6,117 (r)
70 Australia 6,173 6,824 5,868 (r)
71 New Zealand (10) n.a. n.a. n.a.
72 All other 464 281 249
73 Nonmonetary international and
regional organizations (11) 3,617 4,563 4,686
2001
Area or country Feb. Mar. (r) Apr. (r)
1 Total, all foreigners 912,737 (r) 980,742 990,151
2 Foreign countries 909,420 (r) 977,966 987,396
3 Europe 404,494 (r) 439,499 443,051
4 Austria 2,927 3,101 3,728
5 Belgium (2) 5,300 4,852 4,375
6 Denmark 3,499 3,242 2,954
7 Finland 7,102 7,185 8,901
8 France 44,038 45,555 46,378
9 Germany 39,234 (r) 45,729 49,062
10 Greece 454 278 265
11 Italy 6,314 (r) 6,975 7,274
12 Luxembourg (2) 2,659 2,549 2,012
13 Netherlands 21,515 (r) 22,623 22,692
14 Norway 5,339 8,228 5,296
15 Portugal 1,312 1,426 1,535
16 Russia 561 1,008 813
17 Spain 3,959 4,722 3,445
18 Sweden 10,131 10,286 11,934
19 Switzerland 97,003 96,489 104,816
20 Turkey 2,989 2,697 2,770
21 United Kingdom 139,706 (r) 162,563 156,161
22 Channel Islands and Isle of
Man (3) 3,069 3,250 3,151
23 Yugoslavian 49 49 49
24 Other Europe and other former
U.S.S.R. (5) 7,334 (r) 6,692 5,440
25 Canada 42,378 (r) 43,838 45,094
26 Latin America 74,184 (r) 73,717 73,829
27 Argentina 11,613 (r) 11,242 11,541
28 Brazil 20,009 (r) 20,232 20,287
29 Chile 5,960 (r) 5,822 5,628
30 Colombia 3,941 4,022 3,720
31 Ecuador 584 534 526
32 Guatemala 1,174 (r) 1,175 1,171
33 Mexico 17,904 (r) 17,747 18,013
34 Panama 2,906 (r) 3,006 3,158
35 Peru 2,672 (r) 2,809 2,771
36 Uruguay 453 (r) 364 367
37 Venezuela 3,262 (r) 3,237 3,154
38 Other Latin America (6) 3,706 (r) 3,527 3,493
39 Caribbean 299,096 (r) 325,060 333,130
40 Bahamas 101,284 105,064 112,424
41 Bermuda 7,050 (r) 8,122 6,781
42 British West Indies (7) n.a. n.a. n.a.
43 Cayman Islands (7) 177,319 (r) 199,351 200,022
44 Cuba 0 n.a. 1
45 Jamaica 331 348 336
46 Netherlands Antilles 7,155 (r) 6,921 9,384
47 Trinidad and Tobago 663 710 783
48 Other Caribbean (6) 5,294 (r) 4,544 3,399
49 Asia 81,478 (r) 87,673 83,546
China
50 Mainland 1,530 1,357 3,171
51 Taiwan 1,371 (r) 1,851 2,258
52 Hong Kong 8,507 (r) 11,069 10,462
53 India 1,700 1,827 1,675
54 Indonesia 1,987 2,001 2,033
55 Israel 3,249 2,339 2,526
56 Japan 34,724 (r) 39,250 32,908
57 Korea (South) 14,180 (r) 12,264 13,971
58 Philippines 1,172 1,195 1,835
59 Thailand 1,244 1,258 1,062
60 Middle Eastern oil-exporting
countries (8) 8,341 9,120 7,936
61 Other 3,473 (r) 4,142 3,709
62 Africa 1,899 2,111 2,035
63 Egypt 271 343 308
64 Morocco 185 189 185
65 South Africa 544 586 444
66 Congo (formerly Zaire) 0 n.a. n.a.
67 Oil-exporting countries (9) 153 217 267
68 Other 746 776 831
69 Other countries 5,891 (r) 6,068 6,711
70 Australia 5,592 (r) 5,773 6,261
71 New Zealand (10) 165 166 269
72 All other 134 (r) 129 181
73 Nonmonetary international and
regional organizations (11) 3,317 2,776 2,755
2001
Area or country May (r) June (r)
1 Total, all foreigners 996,701 990,583
2 Foreign countries 992,791 985,885
3 Europe 461,025 452,017
4 Austria 3,364 2,870
5 Belgium (2) 5,627 4,254
6 Denmark 2,505 2,268
7 Finland 8,800 8,460
8 France 42,189 48,835
9 Germany 55,063 51,242
10 Greece 285 313
11 Italy 6,867 8,111
12 Luxembourg (2) 1,876 1,285
13 Netherlands 16,488 16,993
14 Norway 2,915 6,502
15 Portugal 1,173 1,304
16 Russia 715 911
17 Spain 4,275 3,594
18 Sweden 10,986 11,049
19 Switzerland 137,273 111,492
20 Turkey 2,596 2,530
21 United Kingdom 149,064 161,720
22 Channel Islands and Isle of
Man (3) 3,838 3,275
23 Yugoslavian 59 49
24 Other Europe and other former
U.S.S.R. (5) 5,067 4,960
25 Canada 44,583 50,153
26 Latin America 73,823 73,733
27 Argentina 11,731 11,913
28 Brazil 20,719 21,532
29 Chile 5,443 5,449
30 Colombia 3,740 3,641
31 Ecuador 482 523
32 Guatemala 1,226 1,192
33 Mexico 17,960 17,384
34 Panama 2,872 3,086
35 Peru 2,534 2,565
36 Uruguay 366 398
37 Venezuela 3,109 2,982
38 Other Latin America (6) 3,641 3,068
39 Caribbean 324,710 322,474
40 Bahamas 112,802 105,772
41 Bermuda 5,507 5,802
42 British West Indies (7) n.a. n.a.
43 Cayman Islands (7) 195,790 200,073
44 Cuba n.a. n.a.
45 Jamaica 396 301
46 Netherlands Antilles 5,738 5,749
47 Trinidad and Tobago 804 946
48 Other Caribbean (6) 3,673 3,831
49 Asia 81,217 80,927
China
50 Mainland 2,252 4,387
51 Taiwan 1,985 2,524
52 Hong Kong 9,127 9,249
53 India 1,648 1,634
54 Indonesia 2,015 1,932
55 Israel 2,715 2,417
56 Japan 34,442 32,338
57 Korea (South) 11,673 11,258
58 Philippines 1,788 1,831
59 Thailand 1,380 1,541
60 Middle Eastern oil-exporting
countries (8) 9,926 8,621
61 Other 2,266 3,195
62 Africa 1,904 2,132
63 Egypt 466 530
64 Morocco 185 175
65 South Africa 289 528
66 Congo (formerly Zaire) n.a. n.a.
67 Oil-exporting countries (9) 197 142
68 Other 767 757
69 Other countries 5,529 4,449
70 Australia 5,215 4,121
71 New Zealand (10) 136 279
72 All other 178 49
73 Nonmonetary international and
regional organizations (11) 4,535 4,848
2001
Area or country July (r) Aug. (p)
1 Total, all foreigners 975,323 945,302
2 Foreign countries 970,469 940,751
3 Europe 441,780 414,382
4 Austria 2,714 3,130
5 Belgium (2) 9,184 4,451
6 Denmark 1,345 1,570
7 Finland 8,666 8,350
8 France 56,997 56,325
9 Germany 47,378 47,994
10 Greece 369 278
11 Italy 5,466 6,227
12 Luxembourg (2) 914 1,005
13 Netherlands 16,875 16,297
14 Norway 4,379 3,823
15 Portugal 1,050 1,232
16 Russia 589 878
17 Spain 3,955 3,431
18 Sweden 11,507 11,651
19 Switzerland 96,036 79,942
20 Turkey 2,499 2,408
21 United Kingdom 161,232 157,915
22 Channel Islands and Isle of
Man (3) 3,417 3,162
23 Yugoslavian 4 4
24 Other Europe and other former
U.S.S.R. (5) 7,204 4,309
25 Canada 43,308 42,239
26 Latin America 73,401 76,358
27 Argentina 12,334 13,108
28 Brazil 20,935 22,153
29 Chile 5,215 5,377
30 Colombia 3,625 3,719
31 Ecuador 515 505
32 Guatemala 1,140 1,266
33 Mexico 17,475 17,578
34 Panama 3,190 3,196
35 Peru 2,515 2,421
36 Uruguay 410 453
37 Venezuela 2,913 3,417
38 Other Latin America (6) 3,134 3,165
39 Caribbean 317,626 323,163
40 Bahamas 100,133 99,223
41 Bermuda 7,236 6,163
42 British West Indies (7) n.a. n.a.
43 Cayman Islands (7) 198,918 202,297
44 Cuba n.a. n.a.
45 Jamaica 326 367
46 Netherlands Antilles 5,617 9,655
47 Trinidad and Tobago 989 1,086
48 Other Caribbean (6) 4,407 4,372
49 Asia 86,714 77,387
China
50 Mainland 3,785 2,191
51 Taiwan 2,906 2,782
52 Hong Kong 7,488 5,743
53 India 1,576 1,621
54 Indonesia 2,011 1,979
55 Israel 4,483 3,621
56 Japan 36,953 34,857
57 Korea (South) 12,803 10,703
58 Philippines 2,333 1,740
59 Thailand 1,119 1,433
60 Middle Eastern oil-exporting
countries (8) 8,531 8,269
61 Other 2,726 2,448
62 Africa 2,038 2,042
63 Egypt 391 379
64 Morocco 173 151
65 South Africa 608 661
66 Congo (formerly Zaire) n.a. 2
67 Oil-exporting countries (9) 130 128
68 Other 736 721
69 Other countries 5,602 5,180
70 Australia 5,143 4,812
71 New Zealand (10) 360 264
72 All other 99 104
73 Nonmonetary international and
regional organizations (11) 4,854 4,551
(1.) Reporting banks include all types of depository institutions as
well as some brokers and dealers.
(2.) Before January 2001, combined data reported for
Belgium-Luxembourg.
(3.) Before January 2001, data included in United Kingdom.
(4.) Since December 1992, has excluded Bosnia, Croatia, and Slovenia.
(5.) Includes the Bank for International Settlements and European
Central Bank. Since December 1992, has included all parts of the
former U.S.S.R. (except Russia) and Bosnia, Croatia, and Slovenia.
(6.) Before January 2001, "Other Latin America" and "Other Caribbean"
were reported as combined "Other Latin America and Caribbean."
(7.) Beginning 2001, Cayman Islands replaced British West Indies in
the data series.
(8.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(9.) Comprises Algeria, Gabon, Libya, and Nigeria.
(10.) Before January 2001, included in "All other."
(11.) Excludes the Bank for International Settlements, which is
included in "Other Europe."
3.19 BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS Reported
by Banks in the United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Type of claim 1998 1999 2000
1 Total 875,891 944,937 1,095,979 (r)
2 Banks' claims 734,995 793,139 904,777 (r)
3 Foreign public borrowers 23,542 35,090 37,907
4 Own foreign offices (2) 484,535 529,682 630,137
5 Unaffilliated foreign banks 106,206 97,186 95,277 (r)
6 Deposits 27,230 34,538 23,886
7 Other 78,976 62,648 71,391 (r)
8 All other foreigners 120,712 131,181 141,456 (r)
9 Claims of banks' domestic
customers (3) 140,896 151,798 191,202
10 Deposits 79,363 88,006 100,327
11 Negotiable and readily
transferable
instruments (4) 47,914 51,161 78,147
12 Outstanding collections and
other claims 13,619 12,631 12,728
MEMO
13 Customer liability on
acceptances 4,520 4,553 4,258
14 Banks' loans under resale
agreements (5) n.a. n.a. n.a.
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the United
States (6) 39,978 31,125 53,153
2001
Type of claim Feb. Mar. (r) Apr. (r)
1 Total ... 1,202,490 ...
2 Banks' claims 912,737 (r) 980,742 990,151
3 Foreign public borrowers 54,220 49,123 52,357
4 Own foreign offices (2) 610,299 (r) 670,952 683,098
5 Unaffilliated foreign banks 95,593 (r) 101,718 95,262
6 Deposits 22,848 19,948 21,533
7 Other 72,745 (r) 81,770 73,729
8 All other foreigners 152,625 (r) 158,949 159,434
9 Claims of banks' domestic
customers (3) ... 221,748 ...
10 Deposits ... 116,370 ...
11 Negotiable and readily
transferable
instruments (4) ... 92,013 ...
12 Outstanding collections and
other claims ... 13,365 ...
MEMO
13 Customer liability on
acceptances ... 2,993 ...
14 Banks' loans under resale
agreements (5) 118,705 134,083 126,871
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the United
States (6) 70,964 67,204 60,796
2001
Type of claim May (r) June (r)
1 Total ... 1,185,643
2 Banks' claims 996,701 990,583
3 Foreign public borrowers 49,533 52,193
4 Own foreign offices (2) 709,119 685,986
5 Unaffilliated foreign banks 79,947 91,384
6 Deposits 19,717 22,106
7 Other 60,230 69,278
8 All other foreigners 158,102 161,020
9 Claims of banks' domestic
customers (3) ... 195,060
10 Deposits ... 97,778
11 Negotiable and readily
transferable
instruments (4) ... 81,034
12 Outstanding collections and
other claims ... 16,248
MEMO
13 Customer liability on
acceptances ... 3,054
14 Banks' loans under resale
agreements (5) 116,938 129,693
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the United
States (6) 58,137 66,155
2001
Type of claim July (r) Aug. (p)
1 Total ... ...
2 Banks' claims 975,323 945,302
3 Foreign public borrowers 55,762 47,156
4 Own foreign offices (2) 660,534 649,338
5 Unaffilliated foreign banks 94,603 84,993
6 Deposits 24,399 15,812
7 Other 70,204 69,181
8 All other foreigners 164,424 163,815
9 Claims of banks' domestic
customers (3) ... ...
10 Deposits ... ...
11 Negotiable and readily
transferable
instruments (4) ... ...
12 Outstanding collections and
other claims ... ...
MEMO
13 Customer liability on
acceptances ... ...
14 Banks' loans under resale
agreements (5) 131,731 116,607
15 Dollar deposits in banks
abroad, reported by
nonbanking business
enterprises in the United
States (6) 60,152 60,299
(1.) For banks' claims, data are monthly; for claims of banks'
domestic customers, data are for quarter ending with month indicated.
Reporting banks include all types of depository institution as well
as some brokers and dealers.
(2.) For U.S. banks, includes amounts due from own foreign branches and
foreign subsidiaries consolidated in quarterly Consolidated Reports of
Condition filed with bank regulatory agencies. For agencies, branches,
and majority-owned subsidiaries of foreign banks, consists principally
of amounts due from the head office or parent foreign bank, and from
foreign branches, agencies, or wholly owned subsidiaries of the head
office or parent foreign bank.
(3.) Assets held by reporting banks in the accounts of their domestic
customers.
(4.) Principally negotiable time certificates of deposit and bankers
acceptances, and commercial paper.
(5.) Data available beginning January 2001.
(6.) Includes demand and time deposits and negotiable and nonnegotiable
certificates of deposit denominated in U.S. dollars issued by banks
abroad.
3.20 BANKS' OWN CLAIMS ON UNAFFILIATED FOREIGNERS Reported by Banks
in the United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
2000
Maturity, by borrower
and area (2) 1997 1998 1999 Sept.
1 Total 276,550 250,418 267,082 262,590
By borrower
2 Maturity of one year
or less 205,781 186,526 187,894 174,083
3 Foreign public
borrowers 12,081 13,671 22,811 23,646
4 All other foreigners 193,700 172,855 165,083 150,437
5 Maturity of more than
one year 70,769 63,892 79,188 88,507
6 Foreign public
borrowers 8,499 9,839 12,013 15,818
7 All other foreigners 62,270 54,053 67,175 72,689
By area
Maturity of one year
or less
8 Europe 58,294 68,679 80,842 69,291
9 Canada 9,917 10,968 7,859 8,219
10 Latin America and
Caribbean 97,207 81,766 69,498 65,824
11 Asia 33,964 18,007 21,802 23,448
12 Africa 2,211 1,835 1,122 1,594
13 All other 4,188 5,271 6,771 5,707
Maturity of more than
one year
14 Europe 13,240 14,923 22,951 27,432
15 Canada 2,525 3,140 3,192 3,094
16 Latin America and
Caribbean 42,049 33,442 39,051 41,158
17 Asia 10,235 10,018 11,257 13,228
18 Africa 1,236 1,232 1,065 902
19 All other (3) 1,484 1,137 1,672 2,693
2000 2001
Maturity, by borrower
and area (2) Dec. Mar. June
1 Total 274,089 307,616 301,972
By borrower
2 Maturity of one year
or less 186,183 195,051 191,706
3 Foreign public
borrowers 21,399 23,741 26,656
4 All other foreigners 164,784 171,310 165,050
5 Maturity of more than
one year 87,906 112,565 110,266
6 Foreign public
borrowers 15,838 24,951 24,978
7 All other foreigners 72,068 87,614 85,288
By area
Maturity of one year
or less
8 Europe 142,465 89,553 80,608
9 Canada 8,323 7,065 (r) 8,639
10 Latin America and
Caribbean 151,861 72,272 72,880
11 Asia 43,429 20,797 24,124
12 Africa 2,263 970 971
13 All other 11,717 4,394 4,484
Maturity of more than
one year
14 Europe 57,770 38,257 39,942
15 Canada 3,174 3,249 3,992
16 Latin America and
Caribbean 82,684 50,110 47,027
17 Asia 19,536 17,180 15,232
18 Africa 1,567 763 774
19 All other (3) 5,954 3,006 3,299
(1.) Reporting banks include all types of depository institutions
as well as some brokers and dealers.
(2.) Maturity is time remaining until maturity.
(3.) Includes nonmonetary international and regional organizations.
3.21 CLAIMS ON FOREIGN COUNTRIES Held by U.S. and Foreign Offices
of U.S. Banks (1)
Billions of dollars, end of period
1999
Area or country 1997 1998 June Sept.
1 Total 721.8 1051.6 941.2 941.6
2 G-10 countries and
Switzerland 242.8 217.7 234.7 219.4
3 Belgium and
Luxembourg 11.0 10.7 16.2 15.7
4 France 15.4 18.4 20.7 20.0
5 Germany 28.6 30.9 32.1 37.4
6 Italy 15.5 11.5 16.4 15.0
7 Netherlands 6.2 7.8 13.3 11.7
8 Sweden 3.3 2.3 2.6 3.6
9 Switzerland 7.2 8.5 8.3 8.8
10 United Kingdom 113.4 85.4 85.5 63.5
11 Canada 13.7 16.8 17.1 17.9
12 Japan 28.6 25.4 22.6 25.7
13 Other industrialized
countries 65.5 69.0 79.7 71.7
14 Austria 1.5 1.4 2.8 3.0
15 Denmark 2.4 2.2 2.9 2.1
16 Finland 1.3 1.4 .9 .9
17 Greece 5.1 5.9 5.9 6.6
18 Norway 3.6 3.2 3.0 3.8
19 Portugal .9 1.4 1.2 1.2
20 Spain 12.6 13.7 16.6 15.1
21 Turkey 4.5 4.8 4.9 4.7
22 Other Western Europe 8.3 10.4 10.3 9.2
23 South Africa 2.2 4.4 4.7 4.0
24 Australia 23.1 20.3 26.6 21.1
25 OPEC (2) 26.0 27.1 26.2 30.1
26 Ecuador 1.3 1.3 1.1 .9
27 Venezuela 2.5 3.2 3.2 3.0
28 Indonesia 6.7 4.7 5.0 4.4
29 Middle East countries 14.4 17.0 16.5 21.4
30 African countries 1.2 1.0 .5 .5
31 Non-OPEC developing
countries 139.2 143.4 148.6 144.6
Latin America
32 Argentina 18.4 23.1 22.8 22.8
33 Brazil 28.6 24.7 25.2 23.5
34 Chile 8.7 8.3 8.2 7.7
35 Colombia 3.4 3.2 3.1 2.7
36 Mexico 17.4 18.9 18.5 19.4
37 Peru 2.0 2.2 2.1 1.8
38 Other 4.1 5.4 5.5 5.5
Asia
China
39 Mainland 3.2 3.0 5.3 3.3
40 Taiwan 9.5 13.3 12.6 12.3
41 India 4.9 5.5 6.7 7.0
42 Israel .7 1.1 2.0 1.0
43 Korea (South) 15.6 13.7 15.3 16.0
44 Malaysia 5.1 5.6 6.0 6.1
45 Philippines 5.7 5.1 5.7 5.8
46 Thailand 5.4 4.7 4.2 4.0
47 Other Asia 4.3 2.9 2.8 2.9
Africa
48 Egypt .9 1.3 1.4 1.3
49 Morocco .6 .5 .5 .5
50 Zaire .0 .0 .0 .0
51 Other Africa (3) .8 1.0 1.0 1.0
52 Eastern Europe 9.1 5.5 5.7 5.4
53 Russia (4) 5.1 2.2 2.1 2.0
54 Other 4.0 3.3 3.7 3.4
55 Offshore banking
centers 155.1 134.4 107.5 122.5
56 Bahamas 24.2 35.4 10.4 18.2
57 Bermuda 9.8 4.6 5.7 8.2
58 Cayman Islands and
other British West
Indies 43.4 12.8 7.2 6.3
59 Netherlands Antilles 14.6 2.6 1.3 9.1
60 Panama (5) 3.1 3.9 3.9 3.9
61 Lebanon .1 .1 .1 .2
62 Hong Kong, China 32.2 23.3 22.0 22.4
63 Singapore 12.7 11.1 15.2 10.6
64 Other (6) .1 .2 .1 .2
65 Miscellaneous and 99.1 495.1 380.2 391.2
unallocated (7)
1999 2000
Area or country Dec. Mar. June Sept.
1 Total 945.5 955.2 (r) 991.1 (r) 954.4 (r)
2 G-10 countries and
Switzerland 243.4 272.6 (r) 313.6 (r) 280.3 (r)
3 Belgium and
Luxembourg 14.3 14.2 13.9 13.0
4 France 29.0 27.3 32.6 29.0 (r)
5 Germany 38.7 37.3 31.5 37.6 (r)
6 Italy 18.1 19.9 (r) 20.5 18.6
7 Netherlands 12.3 17.0 (r) 16.0 (r) 17.5 (r)
8 Sweden 3.0 3.9 3.5 4.3
9 Switzerland 10.3 10.1 13.8 10.9
10 United Kingdom 79.3 101.9 138.2 112.8 (r)
11 Canada 16.3 17.3 (r) 18.2 (r) 18.5 (r)
12 Japan 22.1 23.5 25.4 18.1
13 Other industrialized
countries 68.4 62.8 75.3 (r) 73.7 (r)
14 Austria 3.5 2.6 2.8 3.5
15 Denmark 2.6 1.5 1.2 1.8
16 Finland .9 .8 1.2 2.8
17 Greece 6.0 5.7 6.7 (r) 6.4
18 Norway 3.3 3.0 4.6 8.5
19 Portugal 1.0 1.0 2.0 1.5
20 Spain 12.1 11.3 12.2 10.5
21 Turkey 4.8 5.1 5.6 5.6
22 Other Western Europe 6.8 8.4 7.9 (r) 8.3 (r)
23 South Africa 3.8 4.9 4.6 4.2
24 Australia 23.5 18.6 26.3 20.5
25 OPEC (2) 31.4 28.9 32.1 (r) 31.4 (r)
26 Ecuador .8 .7 .7 .6
27 Venezuela 2.8 3.0 2.9 2.9
28 Indonesia 4.2 3.9 4.1 4.4
29 Middle East countries 23.1 21.1 23.8 (r) 22.4 (r)
30 African countries .5 .2 .7 1.2
31 Non-OPEC developing
countries 149.4 154.6 (r) 158.1 (r) 149.5 (r)
Latin America
32 Argentina 23.2 22.4 21.6 21.4
33 Brazil 27.7 28.1 28.3 28.5 (r)
34 Chile 7.4 8.2 8.2 7.3
35 Colombia 2.5 2.5 2.4 2.4
36 Mexico 18.7 18.3 20.4 17.5
37 Peru 1.7 1.9 2.1 2.1
38 Other 5.9 6.5 (r) 6.7 (r) 6.2 (r)
Asia
China
39 Mainland 3.6 4.6 3.8 3.4
40 Taiwan 12.0 12.6 12.6 12.8
41 India 7.7 7.9 8.2 5.8
42 Israel 1.8 3.3 1.5 1.1
43 Korea (South) 15.2 17.2 (r) 21.1 20.8
44 Malaysia 6.1 6.5 6.8 6.9
45 Philippines 6.2 5.3 5.3 4.7
46 Thailand 4.1 4.3 4.0 3.9
47 Other Asia 2.9 2.6 2.5 2.3
Africa
48 Egypt 1.4 1.4 1.3 1.1
49 Morocco .4 .3 .3 .4
50 Zaire .0 .0 .0 .0
51 Other Africa (3) 1.0 .9 .9 .8
52 Eastern Europe 5.2 6.3 9.4 9.0
53 Russia (4) 1.6 1.7 1.5 1.4
54 Other 3.6 4.7 7.9 7.6
55 Offshore banking
centers 114.5 53.9 55.5 53.5 (r)
56 Bahamas 13.7 14.4 8.8 9.3
57 Bermuda 8.0 7.3 6.3 6.3
58 Cayman Islands and
other British West
Indies 1.3 .0 5.1 5.9
59 Netherlands Antilles 1.7 2.5 2.6 1.9
60 Panama (5) 3.9 3.4 3.3 2.5
61 Lebanon .1 .1 .1 .1
62 Hong Kong, China 21.0 22.2 20.7 20.6
63 Singapore 10.1 4.1 13.7 (r) 12.6
64 Other (6) .1 .1 .1 .1
65 Miscellaneous and 387.9 376.2 342.1 351.1
unallocated (7)
2000 2001
Area or country Dec. Mar. June
1 Total 1027.3 (r) 1140.9 (r) 1136.1
2 G-10 countries and
Switzerland 300.7 (r) 333.0 (r) 335.0
3 Belgium and
Luxembourg 14.2 15.3 13.0
4 France 29.6 30.0 35.9
5 Germany 45.1 45.2 51.6
6 Italy 21.3 20.4 23.7
7 Netherlands 18.4 18.8 15.3
8 Sweden 3.6 4.7 4.7
9 Switzerland 13.2 13.9 13.5
10 United Kingdom 115.6 (r) 141.3 (r) 127.5
11 Canada 16.7 15.4 21.4
12 Japan 23.0 28.0 28.3
13 Other industrialized
countries 74.5 75.7 70.1
14 Austria 4.1 3.8 3.6
15 Denmark 1.9 3.1 2.7
16 Finland 1.5 1.4 1.2
17 Greece 8.3 4.1 3.6
18 Norway 8.3 10.2 7.9
19 Portugal 2.0 1.9 1.4
20 Spain 10.3 12.6 12.4
21 Turkey 5.9 5.1 (r) 4.5
22 Other Western Europe 6.5 7.3 6.9
23 South Africa 3.6 4.1 3.8
24 Australia 22.1 21.9 22.1
25 OPEC (2) 28.9 28.2 27.0
26 Ecuador .6 .6 .6
27 Venezuela 2.5 2.7 2.6
28 Indonesia 4.6 4.4 4.1
29 Middle East countries 20.3 20.1 19.3
30 African countries .8 .5 .4
31 Non-OPEC developing
countries 145.5 (r) 144.4 (r) 152.5
Latin America
32 Argentina 21.4 20.8 19.7
33 Brazil 28.8 29.3 (r) 30.8
34 Chile 7.6 7.3 7.0
35 Colombia 2.4 2.4 2.4
36 Mexico 15.7 16.7 16.3
37 Peru 2.0 2.0 2.0
38 Other 6.3 (r) 8.5 (r) 8.2
Asia
China
39 Mainland 2.9 3.4 6.8
40 Taiwan 10.8 11.1 10.7
41 India 9.1 6.5 11.8
42 Israel 2.7 2.2 2.0
43 Korea (South) 15.0 19.3 18.8
44 Malaysia 7.1 6.5 6.7
45 Philippines 5.1 5.2 5.4
46 Thailand 4.0 4.2 4.2
47 Other Asia 2.4 2.2 2.2
Africa
48 Egypt 1.1 1.2 1.2
49 Morocco .3 .3 .3
50 Zaire .0 .0 .0
51 Other Africa (3) .7 .7 .7
52 Eastern Europe 10.1 9.5 9.5
53 Russia (4) 1.0 1.5 1.5
54 Other 9.1 8.0 8.0
55 Offshore banking
centers 61.7 (r) 57.9 46.2
56 Bahamas 13.5 7.0 .0
57 Bermuda 9.0 7.9 5.7
58 Cayman Islands and
other British West
Indies 14.6 14.3 12.6
59 Netherlands Antilles 1.9 2.9 1.7
60 Panama (5) 3.2 3.8 3.4
61 Lebanon .1 .1 .1
62 Hong Kong, China 18.7 21.7 22.4
63 Singapore 15.2 14.5 12.9
64 Other (6) .2 .1 .1
65 Miscellaneous and 391.2 472.4 (r) 478.4
unallocated (7)
(1.) The banking offices covered by these data include U.S. offices
and foreign branches of U.S. banks, including U.S. banks that are
subsidiaries of foreign banks. Offices not covered include U.S.
agencies and branches of foreign banks. Beginning March 1994, the data
include large foreign subsidiaries of U.S. banks. The data also
include other types of U.S. depository institutions as well as some
types of brokers and dealers. To eliminate duplication, the data are
adjusted to exclude the claims on foreign branches held by a U.S.
office or another foreign branch of the same banking institution.
These data are on a gross claims basis and do not necessarily reflect
the ultimate country risk or exposure of U.S. banks. More complete
data on the country risk exposure of U.S. banks are available in the
quarterly Country Exposure Lending Survey published by the Federal
Financial Institutions Examination Council.
(2.) Organization of Petroleum Exporting Countries, shown
individually; other members of OPEC (Algeria, Gabon, Iran, Iraq,
Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, and United Arab
Emirates), and Bahrain and Oman (not formally members of OPEC).
(3.) Excludes Liberia. Beginning March 1994 includes Namibia.
(4.) As of December 1992, excludes other republics of the former
Soviet Union.
(5.) Includes Canal Zone.
(6.) Foreign branch claims only.
(7.) Includes New Zealand, Liberia, and international and regional
organizations.
3.22 LIABILITIES TO UNAFFILIATED FOREIGNERS Reported by Nonbanking
Business Enterprises in the United States
Millions of dollars, end of period
2000
Type of liability, and area or
country 1997 1998 1999 Mar.
1 Total 57,382 46,570 53,044 53,489
2 Payable in dollars 41,543 36,668 37,605 35,614
3 Payable in foreign currencies 15,839 9,902 15,415 17,875
By type
4 Financial liabilities 26,877 19,255 27,980 29,180
5 Payable in dollars 12,630 10,371 13,883 12,858
6 Payable in foreign currencies 14,247 8,884 14,097 16,322
7 Commercial liabilities 30,505 27,315 25,064 24,309
8 Trade payables 10,904 10,978 12,857 12,401
9 Advance receipts and other
liabilities 19,601 16,337 12,207 11,908
10 Payable in dollars 28,913 26,297 23,722 22,756
11 Payable in foreign currencies 1,592 1,018 1,318 1,553
By area or country
Financial liabilities
12 Europe 18,027 12,589 23,241 24,050
13 Belgium and Luxembourg 186 79 31 4
14 France 1,425 1,097 1,659 1,849
15 Germany 1,958 2,063 1,974 1,880
16 Netherlands 494 1,406 1,996 1,970
17 Switzerland 561 155 147 97
18 United Kingdom 11,667 5,980 16,521 16,579
19 Canada 2,374 693 284 313
20 Latin America and Caribbean 1,386 1,495 892 846
21 Bahamas 141 7 1 1
22 Bermuda 229 101 5 1
23 Brazil 143 152 126 128
24 British West Indies 604 957 492 489
25 Mexico 26 59 25 22
26 Venezuela 1 2 0 0
27 Asia 4,387 3,785 3,437 3,275
28 Japan 4,102 3,612 3,142 2,985
29 Middle Eastern oil-
exporting countries (1) 27 0 4 4
30 Africa 60 28 28 28
31 Oil-exporting countries (2) 0 0 0 0
32 All other (3) 643 665 98 668
Commercial liabilities
33 Europe 10,228 10,030 9,262 8,646
34 Belgium and Luxembourg 666 278 140 78
35 France 764 920 672 539
36 Germany 1,274 1,392 1,131 914
37 Netherlands 439 429 507 648
38 Switzerland 375 499 626 536
39 United Kingdom 4,086 3,697 3,071 2,661
40 Canada 1,175 1,390 1,775 2,024
41 Latin America and Caribbean 2,176 1,618 2,310 2,286
42 Bahamas 16 14 22 9
43 Bermuda 203 198 152 287
44 Brazil 220 152 145 115
45 British West Indies 12 10 48 23
46 Mexico 565 347 887 805
47 Venezuela 261 202 305 193
48 Asia 14,966 12,342 9,886 9,681
49 Japan 4,500 3,827 2,609 2,274
50 Middle Eastern oil-
exporting countries (1) 3,111 2,852 2,551 2,308
51 Africa 874 794 950 943
52 Oil-exporting countries (2) 408 393 499 536
53 Other (3) 1,086 1,141 881 729
2000
Type of liability, and area or
country June Sept. Dec.
1 Total 70,534 76,644 73,904
2 Payable in dollars 47,864 51,451 48,931
3 Payable in foreign currencies 22,670 25,193 24,973
By type
4 Financial liabilities 44,068 49,895 47,419
5 Payable in dollars 22,803 26,159 25,246
6 Payable in foreign currencies 21,265 23,736 22,173
7 Commercial liabilities 26,466 26,749 26,485
8 Trade payables 13,764 13,918 14,293
9 Advance receipts and other
liabilities 12,702 12,831 12,192
10 Payable in dollars 25,061 25,292 23,685
11 Payable in foreign currencies 1,405 1,457 2,800
By area or country
Financial liabilities
12 Europe 30,337 36,175 34,172
13 Belgium and Luxembourg 163 169 147
14 France 1,702 1,299 1,487
15 Germany 1,671 2,132 2,168
16 Netherlands 2,035 2,040 2,016
17 Switzerland 137 178 104
18 United Kingdom 21,463 28,601 26,362
19 Canada 714 249 411
20 Latin America and Caribbean 2,874 3,447 4,125
21 Bahamas 78 105 6
22 Bermuda 1,016 1,182 1,739
23 Brazil 146 132 148
24 British West Indies 463 501 406
25 Mexico 26 35 26
26 Venezuela 0 0 2
27 Asia 9,453 9,320 7,965
28 Japan 6,024 4,782 6,216
29 Middle Eastern oil-
exporting countries (1) 5 7 11
30 Africa 33 48 52
31 Oil-exporting countries (2) 0 0 0
32 All other (3) 662 656 694
Commercial liabilities
33 Europe 9,293 9,411 9,629
34 Belgium and Luxembourg 178 201 293
35 France 711 716 979
36 Germany 948 1,023 1,047
37 Netherlands 562 424 300
38 Switzerland 565 647 502
39 United Kingdom 2,982 2,951 2,847
40 Canada 2,053 1,889 1,933
41 Latin America and Caribbean 2,607 2,443 2,381
42 Bahamas 10 15 31
43 Bermuda 300 377 281
44 Brazil 119 167 114
45 British West Indies 22 19 76
46 Mexico 1,073 1,079 841
47 Venezuela 239 124 284
48 Asia 10,965 11,133 10,983
49 Japan 2,200 1,998 2,757
50 Middle Eastern oil-
exporting countries (1) 3,489 3,706 2,832
51 Africa 950 1,220 948
52 Oil-exporting countries (2) 575 663 483
53 Other (3) 598 653 614
2001
Type of liability, and area or
country Mar. June (p)
1 Total 74,484 68,519
2 Payable in dollars 46,870 42,225
3 Payable in foreign currencies 27,614 26,294
By type
4 Financial liabilities 48,461 42,314
5 Payable in dollars 23,369 18,061
6 Payable in foreign currencies 25,092 24,253
7 Commercial liabilities 26,023 26,205
8 Trade payables 12,657 13,213
9 Advance receipts and other
liabilities 13,366 12,992
10 Payable in dollars 23,501 24,164
11 Payable in foreign currencies 2,522 2,041
By area or country
Financial liabilities
12 Europe 37,990 33,173
13 Belgium and Luxembourg 112 98
14 France 1,557 1,222
15 Germany 2,745 2,463
16 Netherlands 2,169 1,763
17 Switzerland 116 93
18 United Kingdom 29,241 25,751
19 Canada 719 628
20 Latin America and Caribbean 3,651 2,118
21 Bahamas 18 40
22 Bermuda 1,837 461
23 Brazil 26 21
24 British West Indies 410 408
25 Mexico 32 20
26 Venezuela 1 1
27 Asia 5,389 5,639
28 Japan 4,779 3,297
29 Middle Eastern oil-
exporting countries (1) 15 8
30 Africa 38 61
31 Oil-exporting countries (2) 0 0
32 All other (3) 674 695
Commercial liabilities
33 Europe 8,950 8,723
34 Belgium and Luxembourg 251 297
35 France 689 665
36 Germany 982 1,017
37 Netherlands 373 343
38 Switzerland 656 697
39 United Kingdom 2,619 2,706
40 Canada 1,627 2,043
41 Latin America and Caribbean 2,166 2,292
42 Bahamas 5 31
43 Bermuda 280 367
44 Brazil 239 279
45 British West Indies 64 21
46 Mexico 792 762
47 Venezuela 243 218
48 Asia 11,558 11,384
49 Japan 2,432 2,377
50 Middle Eastern oil-
exporting countries (1) 3,359 3,087
51 Africa 1,072 1,115
52 Oil-exporting countries (2) 566 539
53 Other (3) 650 648
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi
Arabia, and Unite Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya,and Nigeria.
(3.) Includes nonmonetary international and regional organizations.
3.23 CLAIMS ON UNAFFILIATED FOREIGNERS Reported by Nonbanking
Business Enterprises in the United States
Millions of dollars, end of period
2000
Type of claim, and area or country 1997 1998 1999 Mar.
1 Total 68,128 77,462 76,669 84,266
2 Payable in dollars 62,173 72,171 69,170 74,331
3 Payable in foreign currencies 5,955 5,291 7,472 9,935
By type
4 Financial claims 36,959 46,260 40,231 47,798
5 Deposits 22,909 30,199 18,566 23,316
6 Payable in dollars 21,060 28,549 16,373 21,442
7 Payable in foreign
currencies 1,849 1,650 2,193 1,874
8 Other financial claims 14,050 16,061 21,665 24,482
9 Payable in dollars 11,806 14,049 18,593 19,659
10 Payable in foreign
currencies 2,244 2,012 3,072 4,823
11 Commercial claims 31,169 31,202 36,438 36,468
12 Trade receivables 27,536 27,202 32,629 31,443
13 Advance payments and other
claims 3,633 4,000 3,809 5,025
14 Payable in dollars 29,307 29,573 34,204 33,230
15 Payable in foreign currencies 1,862 1,629 2,207 3,238
By area or country
Financial claims
16 Europe 14,999 12,294 13,023 16,789
17 Belgium and Luxembourg 406 661 529 540
18 France 1,015 864 967 1,835
19 Germany 427 304 504 669
20 Netherlands 677 875 1,229 1,981
21 Switzerland 434 414 643 612
22 United Kingdom 10,337 7,766 7,561 9,044
23 Canada 3,313 2,503 2,553 3,175
24 Latin America and Caribbean 15,543 27,714 18,206 21,945
25 Bahamas 2,308 403 1,593 1,299
26 Bermuda 108 39 11 11
27 Brazil 1,313 835 1,476 1,646
28 British West Indies 10,462 24,388 12,099 15,814
29 Mexico 537 1,245 1,798 1,979
30 Venezuela 36 55 48 65
31 Asia 2,133 3,027 5,457 4,430
32 Japan 823 1,194 3,262 2,021
33 Middle Eastern oil-
exporting countries (1) 11 9 23 29
34 Africa 319 159 286 232
35 Oil-exporting countries (2) 15 16 15 15
36 All other (3) 652 563 706 1,227
Commercial claims
37 Europe 12,120 13,246 16,389 16,118
38 Belgium and Luxembourg 328 238 316 271
39 France 1,796 2,171 2,236 2,520
40 Germany 1,614 1,822 1,960 2,034
41 Netherlands 597 467 1,429 1,337
42 Switzerland 554 483 610 611
43 United Kingdom 3,660 4,769 5,827 5,354
44 Canada 2,660 2,617 2,757 3,088
45 Latin America and Caribbean 5,750 6,296 5,959 5,899
46 Bahamas 27 24 20 15
47 Bermuda 244 536 390 404
48 Brazil 1,162 1,024 905 849
49 British West Indies 109 104 181 95
50 Mexico 1,392 1,545 1,678 1,529
51 Venezuela 576 401 439 435
52 Asia 8,713 7,192 9,165 9,101
53 Japan 1,976 1,681 2,074 2,082
54 Middle Eastern oil-
exporting countries (1) 1,107 1,135 1,625 1,533
55 Africa 680 711 631 716
56 Oil-exporting countries (2) 119 165 171 82
57 Other (3) 1,246 1,140 1,537 1,546
2000
Type of claim, and area or country June Sept. Dec.
1 Total 80,731 94,803 90,157
2 Payable in dollars 72,300 82,872 79,558
3 Payable in foreign currencies 8,431 11,931 10,599
By type
4 Financial claims 44,303 58,303 53,031
5 Deposits 17,462 30,928 23,374
6 Payable in dollars 15,361 27,974 21,015
8 Payable in foreign
currencies 2,101 2,954 2,359
8 Other financial claims 26,841 27,375 29,657
9 Payable in dollars 22,384 20,541 25,142
10 Payable in foreign
currencies 4,457 6,834 4,515
11 Commercial claims 36,428 36,500 37,126
12 Trade receivables 31,283 31,530 33,104
13 Advance payments and other
claims 5,145 4,970 4,022
14 Payable in dollars 34,555 34,357 33,401
15 Payable in foreign currencies 1,873 2,143 3,725
By area or country
Financial claims
16 Europe 18,254 23,706 23,136
17 Belgium and Luxembourg 317 304 296
18 France 1,292 1,477 1,206
19 Germany 576 696 848
20 Netherlands 1,984 2,486 1,396
21 Switzerland 624 626 699
22 United Kingdom 11,668 16,191 15,900
23 Canada 5,799 7,517 4,576
24 Latin America and Caribbean 14,874 21,691 19,317
25 Bahamas 655 1,358 1,353
26 Bermuda 34 22 19
27 Brazil 1,666 1,568 1,827
28 British West Indies 7,751 15,722 12,596
29 Mexico 2,048 2,280 2,448
30 Venezuela 78 101 87
31 Asia 3,923 4,002 4,697
32 Japan 1,410 1,726 1,631
33 Middle Eastern oil-
exporting countries (1) 42 85 80
34 Africa 320 284 411
35 Oil-exporting countries (2) 39 3 57
36 All other (3) 1,133 1,103 894
Commercial claims
37 Europe 15,935 16,486 15,938
38 Belgium and Luxembourg 425 393 452
39 France 2,693 2,921 3,095
40 Germany 1,905 2,159 1,982
41 Netherlands 1,242 1,310 1,729
42 Switzerland 562 684 763
43 United Kingdom 4,937 5,193 4,502
44 Canada 3,250 2,953 3,502
45 Latin America and Caribbean 5,792 5,788 5,851
46 Bahamas 48 75 37
47 Bermuda 381 387 376
48 Brazil 894 981 957
49 British West Indies 51 55 137
50 Mexico 1,565 1,612 1,507
51 Venezuela 466 379 328
52 Asia 9,172 8,986 9,630
53 Japan 1,881 2,074 2,796
54 Middle Eastern oil-
exporting countries (1) 1,241 1,199 1,024
55 Africa 766 895 672
56 Oil-exporting countries (2) 160 392 180
57 Other (3) 1,513 1,392 1,572
2001
Type of claim, and area or country Mar. June (p)
1 Total 109,443 98,038
2 Payable in dollars 96,230 88,258
3 Payable in foreign currencies 13,213 9,780
By type
4 Financial claims 74,458 61,921
5 Deposits 29,119 29,587
6 Payable in dollars 26,944 27,380
8 Payable in foreign
currencies 2,175 2,207
8 Other financial claims 45,339 32,334
9 Payable in dollars 37,480 27,862
10 Payable in foreign
currencies 7,859 4,472
11 Commercial claims 34,985 36,117
12 Trade receivables 30,493 31,169
13 Advance payments and other
claims 4,492 4,948
14 Payable in dollars 31,806 33,016
15 Payable in foreign currencies 3,179 3,101
By area or country
Financial claims
16 Europe 31,946 23,975
17 Belgium and Luxembourg 430 262
18 France 3,149 1,376
19 Germany 1,405 1,163
20 Netherlands 2,313 1,072
21 Switzerland 605 653
22 United Kingdom 21,070 15,913
23 Canada 4,854 4,787
24 Latin America and Caribbean 28,674 24,433
25 Bahamas 561 818
26 Bermuda 1,729 426
27 Brazil 1,564 1,877
28 British West Indies 16,366 12,539
29 Mexico 2,459 2,633
30 Venezuela 31 66
31 Asia 7,444 6,829
32 Japan 4,065 1,698
33 Middle Eastern oil-
exporting countries (1) 70 76
34 Africa 423 476
35 Oil-exporting countries (2) 42 35
36 All other (3) 1,117 1,421
Commercial claims
37 Europe 14,534 14,586
38 Belgium and Luxembourg 395 417
39 France 3,480 3,173
40 Germany 1,763 2,002
41 Netherlands 757 854
42 Switzerland 666 472
43 United Kingdom 4,031 3,840
44 Canada 3,393 3,500
45 Latin America and Caribbean 5,306 6,119
46 Bahamas 20 39
47 Bermuda 418 650
48 Brazil 1,057 1,376
49 British West Indies 131 135
50 Mexico 1,418 1,420
51 Venezuela 292 321
52 Asia 9,544 9,727
53 Japan 2,575 3,152
54 Middle Eastern oil-
exporting countries (1) 966 1,054
55 Africa 773 674
56 Oil-exporting countries (2) 165 154
57 Other (3) 1,435 1,511
(1.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi
Arabia, and United Arab Emirates (Trucial States).
(2.) Comprises Algeria, Gabon, Libya, and Nigeria.
(3.) Includes nonmonetary international and regional organizations.
3.24 FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
2001
Transaction, and area or
country 1999 2000 Jan.-Aug.
U.S. corporate securities
STOCKS
1 Foreign purchases 2,340,659 3,605,196 2,108,071
2 Foreign sales 2,233,137 3,430,306 2,012,760
3 Net purchases, or sales (-) 107,522 174,890 95,311
4 Foreign countries 107,578 174,903 95,148
5 Europe 98,060 164,656 72,574
6 France 3,813 5,727 7,101
7 Germany 13,410 31,752 6,628
8 Netherlands 8,083 4,915 7,642
9 Switzerland 5,650 11,960 2,637
10 United Kingdom 42,902 58,736 30,683
11 Channel Islands and Isle of
Man (1) n.a. n.a. -419
12 Canada -335 5,956 8,618
13 Latin America and Caribbean 5,187 -17,812 -4,740
14 Middle East (2) -1,066 9,189 1,495
15 Other Asia 4,445 12,494 17,860
16 Japan 5,723 2,070 6,123
17 Africa 372 415 -290
18 Other countries 915 5 -369
19 Nonmonetary international
and regional organiza-
tions -56 -11 163
BONDS (3)
20 Foreign purchases 854,692 1,208,386 1,229,175
21 Foreign sales 602,100 871,416 954,314
22 Net purchases, or sales (-) 252,592 336,970 274,861
23 Foreign countries 252,994 337,074 274,553
24 Europe 140,674 180,917 147,214
25 France 1,870 2,216 4,400
26 Germany 7,723 4,067 8,253
27 Netherlands 2,446 1,130 1,790
28 Switzerland 4,553 3,973 4,989
29 United Kingdom 106,344 141,223 115,063
30 Channel Islands and Isle of
Man (1) n.a. n.a. 1,079
31 Canada 6,043 13,287 2,987
32 Latin America and Caribbean 58,783 59,444 58,787
33 Middle East (1) 1,979 2,076 1,136
34 Other Asia 42,817 78,794 64,313
35 Japan 17,541 39,356 17,640
36 Africa 1,411 938 465
37 Other countries 1,287 1,618 -349
38 Nonmonetary international
and regional organiza-
tions -402 -70 309
Foreign securities
39 Stocks, net purchases, or
sales (-) 15,640 -13,088 -48,055
40 Foreign purchases 1,177,303 1,802,185 1,002,102
41 Foreign sales 1,161,663 1,815,273 1,050,157
42 Bonds, net purchases, or
sales (-) -5,676 -4,054 21,854
43 Foreign purchases 798,267 958,932 811,181
44 Foreign sales 803,943 962,986 789,237
45 Net purchases, or sales
(-), of stocks and bonds 9,964 -17,142 -26,201
46 Foreign countries 9,679 -17,278 -25,883
47 Europe 59,247 -25,386 -11,629
48 Canada -999 -3,888 1,333
49 Latin America and Caribbean -4,726 -15,688 -378
50 Asia -42,961 24,488 -12,907
51 Japan -43,637 20,970 -14,390
52 Africa 710 943 -282
53 Other countries -1,592 2,253 -2,020
54 Nonmonetary international
and regional organiza-
tions 285 150 -317
2001 2001
Transaction, and area or
country Feb. Mar. (r) Apr. (r)
U.S. corporate securities
STOCKS
1 Foreign purchases 258,233 (r) 284,292 249,747
2 Foreign sales 248,789 (r) 276,864 243,122
3 Net purchases, or sales (-) 9,444 (r) 7,428 6,625
4 Foreign countries 9,473 (r) 7,302 6,647
5 Europe 13,713 7,983 3,694
6 France 1,869 1,041 105
7 Germany 1,217 174 199
8 Netherlands 1,379 790 1,112
9 Switzerland 775 1,237 139
10 United Kingdom 5,120 3,280 598
11 Channel Islands and Isle of
Man (1) -32 -110 -144
12 Canada 468 2,464 1,567
13 Latin America and Caribbean -4,927 -3,516 -1,168
14 Middle East (2) 262 (r) 442 -56
15 Other Asia 123 (r) 57 2,966
16 Japan -904 (r) -115 2,048
17 Africa 52 93 -44
18 Other countries -218 -221 -312
19 Nonmonetary international
and regional organiza-
tions -29 126 -22
BONDS (3)
20 Foreign purchases 147,629 (r) 169,850 148,930
21 Foreign sales 108,601 (r) 123,603 111,505
22 Net purchases, or sales (-) 39,028 (r) 46,247 37,425
23 Foreign countries 38,987 (r) 46,029 37,399
24 Europe 22,064 26,457 18,169
25 France 660 1,262 519
26 Germany 1,352 911 1,639
27 Netherlands 496 92 -41
28 Switzerland 782 1,564 709
29 United Kingdom 17,893 20,347 12,477
30 Channel Islands and Isle of
Man (1) 118 115 318
31 Canada 1,031 309 1,158
32 Latin America and Caribbean 8,009 6,564 7,546
33 Middle East (1) 443 624 129
34 Other Asia 7,130 (r) 11,795 10,329
35 Japan 882 (r) 5,596 344
36 Africa 46 38 -33
37 Other countries 264 242 101
38 Nonmonetary international
and regional organiza-
tions 41 218 26
Foreign securities
39 Stocks, net purchases, or
sales (-) -3,155 (r) -15,264 -4,675
40 Foreign purchases 130,124 (r) 133,205 121,345
41 Foreign sales 133,279 (r) 148,469 126,020
42 Bonds, net purchases, or
sales (-) 1,235 (r) -1,290 5,487
43 Foreign purchases 102,395 (r) 115,676 93,828
44 Foreign sales 101,160 (r) 116,966 88,341
45 Net purchases, or sales
(-), of stocks and bonds -1,920 (r) -16,554 812
46 Foreign countries -1,959 (r) -16,249 824
47 Europe -1,737 -13,687 3,616
48 Canada 1,588 844 -1,535
49 Latin America and Caribbean 808 17 1,295
50 Asia -2,223 (r) -3,511 -1,928
51 Japan -2,990 (r) -4,067 -3,494
52 Africa -15 24 93
53 Other countries -380 64 -717
54 Nonmonetary international
and regional organiza-
tions 39 -305 -12
2001
Transaction, and area or
country May (r) June (r)
U.S. corporate
securities
STOCKS
1 Foreign purchases 276,934 259,635
2 Foreign sales 259,604 249,196
3 Net purchases, or sales (-) 17,330 10,439
4 Foreign countries 17,315 10,418
5 Europe 9,805 9,307
6 France 338 3,044
7 Germany 1,025 133
8 Netherlands 573 334
9 Switzerland 448 298
10 United Kingdom 4,501 4,006
11 Channel Islands and Isle of
Man (1) 59 -168
12 Canada 628 130
13 Latin America and Caribbean 3,436 -1,038
14 Middle East (2) -173 234
15 Other Asia 3,532 1,724
16 Japan 1,088 1,000
17 Africa 9 -82
18 Other countries 78 143
19 Nonmonetary international
and regional organiza-
tions 15 21
BONDS (3)
20 Foreign purchases 169,528 158,157
21 Foreign sales 129,146 125,693
22 Net purchases, or sales (-) 40,382 32,464
23 Foreign countries 40,370 32,445
24 Europe 26,116 14,740
25 France 817 618
26 Germany 1,500 114
27 Netherlands 509 576
28 Switzerland 399 294
29 United Kingdom 21,489 12,575
30 Channel Islands and Isle of
Man (1) -218 330
31 Canada 240 822
32 Latin America and Caribbean 9,167 7,387
33 Middle East (1) -395 -24
34 Other Asia 5,412 9,646
35 Japan -480 5,187
36 Africa 14 160
37 Other countries -184 -286
38 Nonmonetary international
and regional organiza-
tions 12 19
Foreign securities
39 Stocks, net purchases, or
sales (-) -8,098 -5,292
40 Foreign purchases 136,046 122,243
41 Foreign sales 144,144 127,535
42 Bonds, net purchases, or
sales (-) 2,267 1,048
43 Foreign purchases 101,383 101,950
44 Foreign sales 99,116 100,902
45 Net purchases, or sales
(-), of stocks and bonds -5,831 -4,244
46 Foreign countries -5,976 -4,241
47 Europe -4,803 3,392
48 Canada 931 405
49 Latin America and Caribbean 3,047 -6,662
50 Asia -4,379 -485
51 Japan -3,670 -44
52 Africa -132 -47
53 Other countries -640 -844
54 Nonmonetary international
and regional organiza-
tions 145 -3
2001
Transaction, and area or
country July (r) Aug. (p)
U.S. corporate
securities
STOCKS
1 Foreign purchases 244,897 233,704
2 Foreign sales 233,422 224,912
3 Net purchases, or sales (-) 11,475 8,792
4 Foreign countries 11,460 8,793
5 Europe 6,704 9,039
6 France 35 426
7 Germany 1,048 452
8 Netherlands 654 594
9 Switzerland -228 -102
10 United Kingdom 3,750 6,364
11 Channel Islands and Isle of
Man (1) -42 31
12 Canada 948 923
13 Latin America and Caribbean 65 -3,037
14 Middle East (2) 513 827
15 Other Asia 3,220 839
16 Japan 1,956 214
17 Africa -20 64
18 Other countries 30 138
19 Nonmonetary international
and regional organiza-
tions 15 -1
BONDS (3)
20 Foreign purchases 138,841 157,998
21 Foreign sales 111,998 132,509
22 Net purchases, or sales (-) 26,843 25,489
23 Foreign countries 26,951 25,291
24 Europe 11,904 10,315
25 France 1,154 -1,035
26 Germany -185 472
27 Netherlands -210 -296
28 Switzerland 291 629
29 United Kingdom 9,507 9,524
30 Channel Islands and Isle of
Man (1) 203 106
31 Canada 485 -1,434
32 Latin America and Caribbean 6,222 8,923
33 Middle East (1) -345 -22
34 Other Asia 8,815 7,708
35 Japan 3,452 1,785
36 Africa 79 132
37 Other countries -209 -331
38 Nonmonetary international
and regional organiza-
tions -108 198
Foreign securities
39 Stocks, net purchases, or
sales (-) -5,031 -2,402
40 Foreign purchases 115,956 95,872
41 Foreign sales 120,987 98,274
42 Bonds, net purchases, or
sales (-) 5,629 9,400
43 Foreign purchases 91,585 87,581
44 Foreign sales 85,956 78,181
45 Net purchases, or sales
(-), of stocks and bonds 598 6,998
46 Foreign countries 630 6,858
47 Europe 1,026 6,037
48 Canada 299 -1,965
49 Latin America and Caribbean -444 786
50 Asia 69 1,630
51 Japan 118 596
52 Africa -111 -24
53 Other countries -209 394
54 Nonmonetary international
and regional organiza-
tions -32 140
(1.) Before January 2001, data included in United Kingdom.
(2.) Comprises oil-exporting countries as follows: Bahrain, Iran,
Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates
(Trucial States).
(3.) Includes state and local government securities and securities of
U.S. government agencies and corporations, Also includes issues of
new debt securities sold abroad by U.S. corporations organized to
finance direct investments abroad.
3.25 MARKETABLE U.S. TREASURY BONDS AND NOTES Foreign
Transactions (1)
Millions of dollars; net purchases, or sales (-) during period
2001
Jan.-
Area or country 1999 2000 Aug.
1 Total estimated -9,953 -54,032 -17,713
2 Foreign countries -10,518 -53,571 -17,054
3 Europe -38,228 -50,704 -16,516
4 Belgium (2) -81 73 -819
5 Germany 2,285 -7,304 -2,292
6 Luxembourg (2) n.a. n.a. 564
7 Netherlands 2,122 2,140 -1,090
8 Sweden 1,699 1,082 -2,189
9 Switzerland -1,761 -10,326 223
10 United Kingdom -20,232 -33,669 -11,164
11 Channel Islands &
Isle of Man (3) n.a. n.a. -15
12 Other Europe and
former U.S.S.R. -22,260 -2,700 266
13 Canada 7,348 -550 -2,645
14 Latin America and Ca-
ribbean -7,523 -4,914 1,709
15 Venezuela 362 1,288 274
16 Other Latin America
and Caribbean 1,661 -11,581 7,568
17 Netherlands Antilles -9,546 5,379 -6,133
18 Asia 29,359 1,639 111
19 Japan 20,102 10,580 -1,653
20 Africa -3,021 -414 -289
21 Other 1,547 1,372 576
22 Nonmonetary internatio-
nal and regional or-
ganizations 565 -461 -659
23 International 190 -483 -339
24 Latin American Carib-
bean regional 666 76 22
MEMO
25 Foreign countries -10,518 -53,571 -17,054
26 Official institutions -9,861 -6,302 -8,626
27 Other foreign -657 -47,269 -8,428
Oil-exporting countries
28 Middle East (4) 2,207 3,483 -3,220
29 Africa (5) 0 0 0
2001
Area or country Feb. Mar. Apr.
1 Total estimated 7,214 (r) 4,897 (r) -13,711
2 Foreign countries 7,175 (r) 4,899 (r) -13,517
3 Europe -337 5,363 -5,599
4 Belgium (2) -529 (r) -152 240
5 Germany -3,180 1,236 1,769
6 Luxembourg (2) 9 -401 204
7 Netherlands 2,808 -3,704 -2,488
8 Sweden -1,039 -993 195
9 Switzerland 161 -120 116
10 United Kingdom 937 9,838 -4,736
11 Channel lslands &
Isle of Man (3) -68 222 -31
12 Other Europe and
former U.S.S.R. 564 -563 -868
13 Canada -554 -169 1,248
14 Latin America and Ca-
ribbean 3,620 827 -7,095
15 Venezuela 292 -142 -148
16 Other Latin America
and Caribbean 4,279 3,009 -3,228
17 Netherlands Antilles -951 -2,040 -3,719
18 Asia 4,590 (r) -119 (r) -2,928
19 Japan 1,671 (r) -1,504 (r) 3,099
20 Africa 36 -60 27
21 Other -180 -943 830
22 Nonmonetary internatio-
nal and regional or-
ganizations 39 -2 -194
23 International -194 -11 -213
24 Latin American Carib-
bean regional -4 10 25
MEMO
25 Foreign countries 7,175 (r) 4,899 (r) -13,517
26 Official institutions 667 249 -9,040
27 Other foreign 6,508 (r) 4,650 (r) -4,477
Oil-exporting countries
28 Middle East (4) -719 -1,240 -383
29 Africa (5) 0 2 0
Area or country May June July Aug. (p)
1 Total estimated 3,076 -3,445 -11,494 4,408
2 Foreign countries 2,831 -3,237 -11,668 4,588
3 Europe -498 -2,522 -8,223 300
4 Belgium (2) -216 -25 -343 42
5 Germany 1,176 -1,517 -970 67
6 Luxembourg (2) 92 145 168 -64
7 Netherlands -1,730 1,117 1,263 2,437
8 Sweden -386 -663 -114 593
9 Switzerland -912 -3 270 -44
10 United Kingdom 1,120 -3,180 -7,844 -4,604
11 Channel lslands &
Isle of Man (3) -9 22 -64 11
12 Other Europe and
former U.S.S.R. 367 1,582 -589 1,862
13 Canada 745 161 -1,653 -356
14 Latin America and Ca-
ribbean 140 -3,812 1,893 3,729
15 Venezuela 51 -126 248 -128
16 Other Latin America
and Caribbean 1,587 -545 -880 85
17 Netherlands Antilles -1,498 -3,141 2,525 3,772
18 Asia 2,704 3,464 -3,940 575
19 Japan 4,658 -3,920 -2,126 324
20 Africa -6 -12 -65 -118
21 Other -254 -516 320 458
22 Nonmonetary internatio-
nal and regional or-
ganizations 245 -208 174 -180
23 International 393 -52 -90 103
24 Latin American Carib-
bean regional -4 -2 -1 -3
MEMO
25 Foreign countries 2,831 -3,237 -11,668 4,588
26 Official institutions 913 -3,243 -741 343
27 Other foreign 1,918 6 -10,927 4,245
Oil-exporting countries
28 Middle East (4) -120 316 -590 -308
29 Africa (5) 1 3 2 -2
(1.) Official and private transactions in marketable U.S. Treasury
securities having an original maturity of more than one year. Data
are based on monthly transactions reports. Excludes nonmarketable
U.S. Treasury bonds and notes held by official institutions of
foreign countries.
(2.) Before January 2001, combined data reported for Belgium and
Luxembourg.
(3.) Before January 2001, these data were included in the data
reported for the United Kingdom.
(4.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi
Arabia, and United Arab Emirates (Trucial States).
(5.) Comprises Algeria, Gabon, Libya, and Nigeria.
3.28 FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE
VALUE OF THE U.S. DOLLAR (1)
Currency units per U.S. dollar except as noted
Item 1998 1999 2000
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 62.91 64.54 58.15
2 Austria/schilling 12.379 n.a. n.a.
3 Belgium/franc 36.31 n.a. n.a.
4 Brazil/real 1.1605 1.8207 1.8301
5 Canada/dollar 1.4836 1.4858 1.4855
6 China, P.R./yuan 8.3008 8.2783 8.2784
7 Denmark/krone 6.7030 6.9900 8.0953
8 European Monetary
Union/euro (3) n.a. 1.0653 0.9232
9 Finland/markka 5.3473 n.a. n.a.
10 France/franc 5.8995 n.a. n.a.
11 Germany/deutsche mark 1.7597 n.a. n.a.
12 Greece/drachma 295.70 306.30 365.92
13 Hong Kong/dollar 7.7467 7.7594 7.7924
14 India/rupee 41.36 43.13 45.00
15 Ireland/pound (2) 142.48 n.a. n.a.
16 Italy/lira 1,736.85 n.a. n.a.
17 Japan/yen 130.99 113.73 107.80
18 Malaysia/ringgit 3.9254 3.8000 3.8000
19 Mexico/peso 9.152 9.553 9.459
20 Netherlands/guilder 1.9837 n.a. n.a.
21 New Zealand/dollar (2) 53.61 52.94 45.68
22 Norway/krone 7.5521 7.8071 8.8131
23 Portugal/escudo 180.25 n.a. n.a.
24 Singapore/dollar 1.6722 1.6951 1.7250
25 South Africa/rand 5.5417 6.1191 6.9468
26 South Korea/won 1,400.40 1,189.84 1,130.90
27 Spain/peseta 149.41 n.a. n.a.
28 Sri Lanka/rupee 65.006 70.868 76.964
29 Sweden/krona 7.9522 8.2740 9.1735
30 Switzerland/franc 1.4506 1.5045 1.6904
31 Taiwan/dollar 33.547 32.322 31.260
32 Thailand/baht 41.262 37.887 40.210
33 United Kingdom/
pound (2) 165.73 161.72 151.56
34 Venezuela/bolivar 548.39 606.82 680.52
Indexes (4)
NOMINAL
35 Broad (January 1997=
100) (5) 116.48 116.87 119.93
36 Major currencies
(March 1973=100) (6) 95.79 94.07 98.34
37 Other important tra-
ding partners (Janu-
ary 1997=100) (7) 126.03 129.94 130.26
REAL
38 Broad (March 1973=
100) (5) 99.23 (r) 98.55 (r) 102.21 (r)
39 Major currencies
(March 1973=100) (6) 97.21 (r) 96.64 (r) 102.83 (r)
40 Other important tra-
ding partners (March
1973=100) (7) 108.21 (r) 107.33 (r) 107.79 (r)
2001
Item May June July
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 51.99 51.80 50.89
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 2.2926 2.3788 2.4731
5 Canada/dollar 1.5411 1.5245 1.5308
6 China, P.R./yuan 8.2770 8.2770 8.2769
7 Denmark/krone 8.5256 8.7397 8.6442
8 European Monetary
Union/euro (3) 0.8753 0.8530 0.8615
9 Finland/markka n.a. n.a. n.a.
10 France/franc n.a. n.a. n.a.
11 Germany/deutsche mark n.a. n.a. n.a.
12 Greece/drachma n.a. n.a. n.a.
13 Hong Kong/dollar 7.7999 7.7997 7.7999
14 India/rupee 46.95 47.04 47.18
15 Ireland/pound (2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 121.77 122.35 124.50
18 Malaysia/ringgit 3.8000 3.8000 3.8000
19 Mexico/peso 9.148 9.088 9.168
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar (2) 42.18 41.41 40.81
22 Norway/krone 9.1380 9.3014 9.2566
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.8141 1.8170 1.8233
25 South Africa/rand 7.9789 8.0595 8.2094
26 South Korea/won 1,298.90 1,295.05 1,305.24
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 90.848 90.371 90.314
29 Sweden/krona 10.3513 10.7930 10.7603
30 Switzerland/franc 1.7528 1.7856 1.7570
31 Taiwan/dollar 33.203 34.328 34.821
32 Thailand/baht 45.525 45.263 45.641
33 United Kingdom/
pound (2) 142.65 140.20 141.48
34 Venezuela/bolivar 714.86 717.27 722.72
Indexes (4)
NOMINAL
35 Broad (January 1997=
100) (5) 126.77 127.58 128.07
36 Major currencies
(March 1973=100) (6) 105.03 105.91 106.07
37 Other important tra-
ding partners (Janu-
ary 1997=100) (7) 135.92 136.43 137.37
REAL
38 Broad (March 1973=
100) (5) 108.76 (r) 109.64 (r) 109.87 (r)
39 Major currencies
(March 1973=100) (6) 110.90 (r) 112.03 (r) 112.17 (r)
40 Other important tra-
ding partners (March
1973=100) (7) 112.74 (r) 113.35 (r) 113.71 (r)
2001
Item Aug. Sept. Oct.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 52.46 50.36 50.42
2 Austria/schilling n.a. n.a. n.a.
3 Belgium/franc n.a. n.a. n.a.
4 Brazil/real 2.5122 2.6767 2.7408
5 Canada/dollar 1.5399 1.5679 1.5717
6 China, P.R./yuan 8.2770 8.2768 8.2768
7 Denmark/krone 8.2632 8.1654 8.2186
8 European Monetary
Union/euro (3) 0.9014 0.9114 0.9050
9 Finland/markka n.a. n.a. n.a.
10 France/franc n.a. n.a. n.a.
11 Germany/deutsche mark n.a. n.a. n.a.
12 Greece/drachma n.a. n.a. n.a.
13 Hong Kong/dollar 7.7997 7.7997 7.7999
14 India/rupee 47.17 47.75 48.05
15 Ireland/pound (2) n.a. n.a. n.a.
16 Italy/lira n.a. n.a. n.a.
17 Japan/yen 121.37 118.61 121.45
18 Malaysia/ringgit 3.8000 3.8000 3.8001
19 Mexico/peso 9.133 9.425 9.339
20 Netherlands/guilder n.a. n.a. n.a.
21 New Zealand/dollar (2) 43.14 41.73 41.39
22 Norway/krone 8.9427 8.7691 8.8329
23 Portugal/escudo n.a. n.a. n.a.
24 Singapore/dollar 1.7613 1.7494 1.8113
25 South Africa/rand 8.3115 8.6756 9.2804
26 South Korea/won 1,285.65 1,293.83 1,302.36
27 Spain/peseta n.a. n.a. n.a.
28 Sri Lanka/rupee 89.994 90.157 90.954
29 Sweden/krona 10.3329 10.6353 10.5661
30 Switzerland/franc 1.6808 1.6338 1.6357
31 Taiwan/dollar 34.639 34.575 34.583
32 Thailand/baht 44.907 44.331 44.750
33 United Kingdom/
pound (2) 143.72 146.38 145.01
34 Venezuela/bolivar 731.97 743.46 743.22
Indexes (4)
NOMINAL
35 Broad (January 1997=
100) (5) 125.97 126.28 127.20
36 Major currencies
(March 1973=100) (6) 103.77 103.32 104.27
37 Other important tra-
ding partners (Janu-
ary 1997=100) (7) 136.03 137.53 138.21
REAL
38 Broad (March 1973=
100) (5) 107.90 (r) 108.33 (r) 109.28
39 Major currencies
(March 1973=100) (6) 109.61 (r) 109.46 (r) 110.96
40 Other important tra-
ding partners (March
1973=100) (7) 112.38 (r) 113.60 (r) 113.88
(1.) Averages of certified noon buying rates in New York for cable
transfers. Data in this table also appear in the Baord's G.5 (405)
monthly statistical release. For ordering address, see inside
front cover.
(2.) U.S. cents per currency unit.
(3.) The euro is reported in place of the individual euro area
currencies. By convention, the rate is reported in U.S. dollars
per euro. The bilateral currency rates can be derived from the
euro rate by using the fixed conversion rates (in currencies per
euro) as shown below:
Euro equals
13.7603 Austrian schillings
40.3399 Belgian francs
5.94573 Finnish markkas
6.55957 French francs
1.95583 German marks
.787564 Irish pounds
1936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
340.750 Greek drachmas
(4.) Starting with the February 2001 Bulletin, revised index values
resulting from the annual revision of data that underlie the
calculated trade weights are reported. For more information
on the indexes of the foreign exchange value of the dollar, see
Federal Reserve Bulletin, vol. 84 (October 19981, pp. 811-818.
(5.) Weighted average of the foreign exchange value of the U.S.
dollar against the currencies of a broad group of U.S. trading
partners. The weight for each currency is computed as an average
of U.S. bilateral import shares from and export shares to the
issuing country and of a measure of the importance to U.S. exporters
of that country's trade in third country markets.
(6.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that circulate
widely outside the country of issue. The weight for each currency
is its broad index weight scaled so that the weights of the subset
of currencies in the index sum to one.
(7.) Weighted average of the foreign exchange value of the U.S.
dollar against a subset of broad index currencies that do not
circulate widely outside the country of issue. The weight for
each currency is its broad index weight scaled so that the weights
of the subset of currencies in the index sum to one.
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