Financial and Business Statistics - of Federal Reserve banks, includes glossary - Illustration - Statistical Data Included
Guide to Tabular Presentation
SYMBOLS AND ABBREVIATIONS
c Corrected
e Estimated
n.a. Not available
n.e.c. Not elsewhere classified
p Preliminary
r Revised (Notation appears on column heading
when about half of the figures in that column
are changed.)
* Amounts insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is millions)
0 Calculated to be zero
... Cell not applicable
ABS Asset-backed security
ATS Automatic transfer service
BIF Bank insurance fund
CD Certificate of deposit
CMO Collateralized mortgage obligation
CRA Community Reinvestment Act of 1977
FAMC Federal Agriculture Mortgage Corporation
FFB Federal Financing Bank
FHA Federal Housing Administration
FHLBB Federal Home Loan Bank Board
FHLMC Federal Home Loan Mortgage Corporation
FmHA Farmers Home Administration
FNMA Federal National Mortgage Association
FSA Farm Service Agency
FSLIC Federal Savings and Loan Insurance Corporation
G-7 Group of Seven
G-10 Group of Ten
GDP Gross domestic product
GNMA Government National Mortgage Association
HUD Department of Housing and Urban
Development
IMF International Monetary Fund
IOs Interest only, stripped, mortgage-back securities
IPCs Individuals, partnerships, and corporations
IRA Individual retirement account
MMDA Money market deposit account
MSA Metropolitan statistical area
NOW Negotiable order of withdrawal
OCDs Other checkable deposits
OPEC Organization of Petroleum Exporting Countries
OTS Office of Thrift Supervision
PMI Private mortgage insurance
POs Principal only, stripped, mortgage-back securities
REIT Real estate investment trust
REMICs Real estate mortgage investment conduits
RHS Rural Housing Service
RP Repurchase agreement
RTC Resolution Trust Corporation
SCO Securitized credit obligation
SDR Special drawing right
SIC Standard Industrial Classification
VA Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct
obligations of the Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
1.10 RESERVES, MONEY STOCK, AND DEBT MEASURES
Percent annual rate of change, seasonally adjusted(1)
2000
Monetary or credit aggregate
Q1(r) Q2 Q3(r)
Reserves of depository
institutions(2)
1 Total 2.4 -10.9(r) -8.3
2 Required .6 -7.7(r) -8.6
3 Nonborrowed 3.0 -12.5(r) -9.9
4 Monetary base(3) 4.0 -3.6(r) 2.5
Concepts of money and debt(4)
5 M1 2.0 -1.8 -3.6
6 M2 5.8 6.4 5.8
7 M3 10.7 9.0 8.9
8 Debt 5.6 6.1 4.9
Nontransaction components
9 In M2(5) 7.1 8.9 8.7
10 In M3 only(6) 22.9 15.2(r) 16.3
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 2.5 7.8 11.8
12 Small time(7) 9.4 13.2 10.5
13 Large times(8,9) 20.2 17.1 11.5
Thrift institutions
14 Savings, including MMDAs -2.9 1.6 3.3
15 Small time(7) 7.2 3.3 10.8
16 Large time(8) 14.5 .6(r) 23.0
Money market mutual funds
17 Retail 17.8 13.3 4.6
18 Institution-only 22.8 18.0 29.2
Repurchase agreements
and eurodollars
19 Repurchase agreements(10) 20.7 10.7(r) 8.0
20 Eurodollars(10) 42.6 15.0(r) .6
Debt components(4)
21 Federal -4.9 -7.5 -7.3
22 Nonfederal 8.4 9.6 7.9
2000 2000(r)
Monetary or credit aggregate
Q4(r) Oct. Nov.
Reserves of depository
institutions(2)
1 Total -8.7 -11.1 .1
2 Required -10.4 -12.3 -1.7
3 Nonborrowed -6.4 -9.4 4.3
4 Monetary base(3) 2.8 2.8 3.5
Concepts of money and debt(4)
5 M1 -3.0 .4 -8.3
6 M2 6.6 5.5 4.2
7 M3 7.0 3.8 4.2
8 Debt 4.6 3.5 5.4
Nontransaction components
9 In M2(5) 9.4 7.0 7.9
10 In M3 only(6) 7.9 -.2 4.1
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 11.9 5.0 10.4
12 Small time(7) 6.1 3.7 7.7
13 Large times(8,9) 3.5 -9.0 4.8
Thrift institutions
14 Savings, including MMDAs .0 3.2 -3.4
15 Small time(7) 9.7 9.9 9.1
16 Large time(8) 14.0 20.1 4.6
Money market mutual funds
17 Retail 12.7 13.2 9.3
18 Institution-only 18.6 10.4 12.9
Repurchase agreements
and eurodollars
19 Repurchase agreements(10) -3.4 -3.3 -14.6
20 Eurodollars(10) 2.0 -12.5 2.5
Debt components(4)
21 Federal -8.0 -10.1 -9.2
22 Nonfederal 7.6 6.7 8.8
2000(r) 2001
Monetary or credit aggregate
Dec. Jan.(r) Feb.
Reserves of depository
institutions(2)
1 Total -15.9 10.0 .2
2 Required -20.3 12.7 -3.4
3 Nonborrowed -13.7 14.3 .5
4 Monetary base(3) 5.3 11.2 3.3
Concepts of money and debt(4)
5 M1 2.0 12.0 .0
6 M2 9.6 12.3 10.8
7 M3 13.8 16.0 11.7
8 Debt 5.8 3.8 n.a.
Nontransaction components
9 In M2(5) 11.8 12.4 13.8
10 In M3 only(6) 23.7 24.6 13.7
Time and savings deposits
Commercial banks
11 Savings, including MMDAs 16.3 13.2 23.8
12 Small time(7) 9.5 5.0 -5.8
13 Large times(8,9) 39.2 22.0 -39.9
Thrift institutions
14 Savings, including MMDAs -9.2 1.9 27.6
15 Small time(7) 5.6 14.6 6.8
16 Large time(8) -6.9 34.9 6.8
Money market mutual funds
17 Retail 19.5 21.2 9.2
18 Institution-only 24.9 52.5 86.9
Repurchase agreements
and eurodollars
19 Repurchase agreements(10) 12.4 -10.7 -30.2
20 Eurodollars(10) -1.3 -17.0 .6
Debt components(4)
21 Federal -6.6 -7.1 n.a.
22 Nonfederal 8.6 6.3 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(l) 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 2000 2001
Dec. Jan. Feb.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 578,891 577,991 574,233
U.S. government
securities(2)
2 Bought outright--
System account(3) 514,072 515,712 517,974
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 130 130 81
5 Held under repurchase
agreements 0 0 0
6 Repurchase
agreements--
triparty(4) 27,923 24,662 19,085
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 96 43 29
9 Seasonal credit 114 32 19
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 1,502 873 1,231
13 Other Federal Reserve
assets 35,054 36,539 35,815
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,652 2,200 2,200
16 Treasury currency
outstanding 31,528 31,800(r) 31,923
ABSORBING RESERVE FUNDS
17 Currency in circulation 584,582 584,006(r) 582,422
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 403 452 485
Deposits, other than
reserve balance
with Federal
Reserve Banks
20 Treasury 5,758 6,682 4,894
21 Foreign 115 104 94
22 Service-related balances
and adjustments 6,959 6,841(r) 6,533
23 Other 355 305 302
24 Other Federal Reserve
liabilities
and capital 18,401 18,124 18,168
25 Reserve balances with
Federal Reserve
Banks(5) 7,543 6,521(r) 6,502
Average of daily figures for
week ending on date
indicated
Factor 2,001
Jan. 17 Jan. 24 Jan. 31
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 577,821 577,550 573,706
U.S. government
securities(2)
2 Bought outright--
System account(3) 516,288 516,988 516,799
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 130 130 130
5 Held under repurchase
agreements 0 0 0
6 Repurchase
agreements--
triparty(4) 24,228 22,429 18,986
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 4 79 12
9 Seasonal credit 26 23 31
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 731 1,172 675
13 Other Federal Reserve
assets 36,415 36,730 37,072
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 31,793(r) 31,841(r) 31,888(r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 584,339(r) 580,581(r) 578,487(r)
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 456 445 455
Deposits, other than
reserve balance
with Federal
Reserve Banks
20 Treasury 6,529 7,078 8,903
21 Foreign 106 85 110
22 Service-related balances
and adjustments 6,632 6,948(r) 6,578(r)
23 Other 199 267 277
24 Other Federal Reserve
liabilities
and capital 18,265 18,248 18,198
25 Reserve balances with
Federal Reserve
Banks(5) 6,333 8,984(r) 5,832(r)
Average of daily figures for
week ending on date
indicated
Factor 2001
Feb. 7 Feb. 14 Feb. 21 Feb. 28
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 572,082 572,626 577,131 575,091
U.S. government
securities(2)
2 Bought outright--
System account(3) 515,579 515,909 519,669 520,739
3 Held under repurchase
agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 121 110 81 10
5 Held under repurchase
agreements 0 0 0 0
6 Repurchase
agreements--
triparty(4) 18,921 17,757 21,976 17,685
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 6 24 13 72
9 Seasonal credit 19 23 17 17
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 623 1,543 955 1,802
13 Other Federal Reserve
assets 36,814 37,260 34,421 34,766
14 Gold stock 11,046 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 31,902 31,916 31,930 31,944
ABSORBING RESERVE FUNDS
17 Currency in circulation 579,960 581,796 584,023 583,909
18 Reverse repurchase
agreements--
triparty(4) 0 0 0 0
19 Treasury cash holdings 478 485 488 489
Deposits, other than
reserve balance
with Federal
Reserve Banks
20 Treasury 4,849 5,023 4,836 4,868
21 Foreign 89 79 107 100
22 Service-related balances
and adjustments 6,448 6,533 6,531 6,623
23 Other 339 323 257 290
24 Other Federal Reserve
liabilities
and capital 18,032 18,232 18,162 18,246
25 Reserve balances with
Federal Reserve
Banks(5) 7,035 5,317 7,903 5,755
End-of-month-figures
Factor 2000 2001
Dec. Jan. Feb.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 593,092 573,194 578,124
U.S. government
securities(2)
2 Bought outright--
System account(3) 511,703 516,018 519,618
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 130 130 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase
agreements--
triparty(4) 43,375 18,920 23,665
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 33 5 2
9 Seasonal credit 77 30 15
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 901 1,536 1,016
13 Other Federal Reserve
assets 36,873 36,555 33,798
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 31,643 31,888(r) 31,944
ABSORBING RESERVE FUNDS
17 Currency in circulation 593,694 579,781(r) 584,987
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 450 477 505
Deposits, other than
reserve balance
with Federal
Reserve Banks
20 Treasury 5,149 5,256 4,956
21 Foreign 216 199 196
22 Service-related balances
and adjustments 7,428 6,578(r) 6,623
23 Other 1,382 306 377
24 Other Federal Reserve
liabilities
and capital 17,962 17,648 17,842
25 Reserve balances with
Federal Reserve
Banks(5) 11,701 8,082(r) 7,830
Wednesday figures
Factor 2001
Jan. 17 Jan. 24 Jan. 31
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 578,853 589,511 573,194
U.S. government
securities(2)
2 Bought outright--
System account(3) 516,778 518,441 516,018
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 130 130 130
5 Held under repurchase
agreements 0 0 0
6 Repurchase
agreements--
triparty(4) 22,520 33,000 18,920
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 1 4 5
9 Seasonal credit 24 24 30
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 2,902 924 1,536
13 Other Federal Reserve
assets 36,498 36,989 36,555
14 Gold stock 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200
16 Treasury currency
outstanding 31,793(r) 31,841(r) 31,888(r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 583,690(r) 580,073(r) 579,781(r)
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 445 451 477
Deposits, other than
reserve balance
with Federal
Reserve Banks
20 Treasury 7,979 7,357 5,256
21 Foreign 103 69 199
22 Service-related balances
and adjustments 6,632 6,948(r) 6,578(r)
23 Other 283 262 306
24 Other Federal Reserve
liabilities
and capital 17,936 17,937 17,648
25 Reserve balances with
Federal Reserve
Banks(5) 6,824 21,501(r) 8,082(r)
Wednesday figures
Factor 2001
Feb. 7 Feb. 14 Feb. 21 Feb. 28
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 579,003 574,244 587,381 578,124
U.S. government
securities(2)
2 Bought outright--
System account(3) 516,486 514,561 521,118 519,618
3 Held under repurchase
agreements 0 0 0 0
Federal agency
obligations
4 Bought outright 110 110 10 10
5 Held under repurchase
agreements 0 0 0 0
6 Repurchase
agreements--
triparty(4) 23,985 17,510 28,765 23,665
7 Acceptances 0 0 0 0
Loans to depository
institutions
8 Adjustment credit 11 11 17 2
9 Seasonal credit 20 24 15 15
10 Special Liquidity
Facility credit 0 0 0 0
11 Extended credit 0 0 0 0
12 Float 1,345 4,463 2,823 1,016
13 Other Federal Reserve
assets 37,046 37,565 34,633 33,798
14 Gold stock 11,046 11,046 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
16 Treasury currency
outstanding 31,902 31,916 31,930 31,944
ABSORBING RESERVE FUNDS
17 Currency in circulation 582,088 583,458 584,970 584,987
18 Reverse repurchase
agreements--
triparty(4) 0 0 0 0
19 Treasury cash holdings 485 489 487 505
Deposits, other than
reserve balance
with Federal
Reserve Banks
20 Treasury 3,905 6,713 4,100 4,956
21 Foreign 96 72 77 196
22 Service-related balances
and adjustments 6,448 6,533 6,531 6,623
23 Other 335 286 256 377
24 Other Federal Reserve
liabilities
and capital 17,906 17,921 17,935 17,842
25 Reserve balances with
Federal Reserve
Banks(5) 12,888 3,935 18,201 7,830
(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 2000
Dec. Dec. Dec. Aug.(r)
1 Reserve balances with
Reserve Banks(2) 9,026 5,262(r) 7,159(r) 6,933
2 Total vault cash(3) 44,294 60,619 45,120 45,319
3 Applied vault
cash(4) 36,183 36,392 31,381 32,531
4 Surplus vault
Cash(5) 8,111 24,227 13,739 12,788
5 Total reserves(6) 45,209 41,654(r) 38,540(r) 39,464
6 Required reserves 43,695 40,357(r) 37,216(r) 38,460
7 Excess reserve
balances at
Reserve Banks(7) 1,514 1,297(r) 1,325 1,004
8 Total borrowing at
Reserve Banks 117 320 210 579
9 Adjustment 101 179 99 25
10 Seasonal 15 67 111 554
11 Special Liquidity
Facility(8) 0 74 0 0
12 Extended credit(9) 0 0 0 0
Prorated monthly averages
of biweekly averages
Reserve classification 2000
Sept.(r) Oct.(r) Nov.(r) Dec.
1 Reserve balances with
Reserve Banks(2) 6,852 6,778 7,156 7,159(r)
2 Total vault cash(3) 44,807 45,178 44,546 45,120
3 Applied vault
cash(4) 32,316 31,998 31,629 31,381
4 Surplus vault
Cash(5) 12,491 13,180 12,917 13,739
5 Total reserves(6) 39,168 38,776 38,786 38,540(r)
6 Required reserves 38,050 37,629 37,584 37,216(r)
7 Excess reserve
balances at
Reserve Banks(7) 1,119 1,147 1,201 1,325
8 Total borrowing at
Reserve Banks 477 418 283 210
9 Adjustment 50 119 124 99
10 Seasonal 427 299 159 111
11 Special Liquidity
Facility(8) 0 0 0 0
12 Extended credit(9) 0 0 0 0
Prorated monthly Biweekly averages of
averages of daily figures for
biweekly two-week periods ending
averages on dates indicated
Reserve classification 2001 2000
Jan.(r) Feb. Nov. 1(r) Nov. 15
1 Reserve balances with
Reserve Banks(2) 7,190 6,616 6,965 6,709
2 Total vault cash(3) 47,506 48,397 44,523 44,633
3 Applied vault
cash(4) 32,601 32,687 32,180 31,056
4 Surplus vault
Cash(5) 14,905 15,710 12,343 13,577
5 Total reserves(6) 39,791 39,302 39,145 37,765
6 Required reserves 38,538 37,949 37,961 36,763(r)
7 Excess reserve
balances at
Reserve Banks(7) 1,253 1,353 1,184 1,002(r)
8 Total borrowing at
Reserve Banks 73 51 355 190
9 Adjustment 39 30 97 25
10 Seasonal 34 21 259 165
11 Special Liquidity
Facility(8) 0 ... ... ...
12 Extended credit(9) 0 0 0 0
Biweekly averages of daily figures for
two-week periods ending on
dates indicated
Reserve classification 2000 2001
Nov. 29 Dec. 13 Dec. 27 Jan. 10
1 Reserve balances with
Reserve Banks(2) 7,620 7,131 7,208 7,085
2 Total vault cash(3) 44,539 43,452 46,220 46,696
3 Applied vault
cash(4) 32,262(r) 30,255 32,370 31,579
4 Surplus vault
Cash(5) 12,277(r) 13,197 13,850 15,117
5 Total reserves(6) 39,881 37,386 39,578 38,664
6 Required reserves 38,475(r) 36,254(r) 38,124 37,165
7 Excess reserve
balances at
Reserve Banks(7) 1,406(r) 1,132(r) 1,453(r) 1,499
8 Total borrowing at
Reserve Banks 380 159 285 110
9 Adjustment 232 37 169 56
10 Seasonal 148 123 117 55
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
Jan. 24 Feb. 7(r) Feb. 21 Mar. 7
1 Reserve balances with
Reserve Banks(2) 7,656 6,410 6,612 6,829
2 Total vault cash(3) 45,558 52,561 48,505 44,017
3 Applied vault
cash(4) 32,316 34,631 32,303 31,512
4 Surplus vault
Cash(5) 13,243 17,930 16,202 12,505
5 Total reserves(6) 39,972 41,041 38,914 38,341
6 Required reserves 38,866 39,844 37,356 37,242
7 Excess reserve
balances at
Reserve Banks(7) 1,106 1,196 1,559 1,098
8 Total borrowing at
Reserve Banks 66 34 38 95
9 Adjustment 42 9 18 76
10 Seasonal 25 25 20 19
11 Special Liquidity
Facility(8) ... ... ... ...
12 Extended credit(9) 0 0 0 0
(1.) Data in this table also appear in the Board's H.3 (502) weekly
statistical release. For ordering address, see inside front cover. Data
are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to compensate
for float and includes other off-balance-sheet "as-of" adjustments.
(3.) Vault cash eligible to satisfy reserve requirements. It includes
only vault cash held by those banks and thrift institutions that are
not exempt from reserve requirements. Dates refer to the maintenance
periods in which the vault cash can be used to satisfy reserve
requirements.
(4.) All vault cash held during the lagged computation period by
"bound" institutions (that is, those whose required reserves exceed
their vault cash) plus the amount of vault cash applied during the
maintenance period by "nonbound" institutions (that is, those whose
vault cash exceeds their required reserves) to satisfy current
reserve requirements.
(5.) Total vault cash (line 2) less applied vault cash (line 3).
(6.) Reserve balances with Federal Reserve Banks (line 1) plus applied
vault cash (line 3).
(7.) Total reserves (line 5) less required reserves (line 6).
(8.) Borrowing at the discount window under the terms and conditions
established for the Century Date Change Special Liquidity Facility in
effect from October 1, 1999, through April 7, 2000.
(9.) Consists of borrowing at the discount window under the terms and
conditions established for the extended credit program to help
depository institutions deal with sustained liquidity pressures.
Because there is not the same need to repay such borrowing promptly as
with traditional short-term adjustment credit, the money market effect
of extended credit is similar to that of nonborrowed reserves.
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Adjustment credit(1)
Federal Reserve
Bank
On Effective date Previous rate
4/6/01
Boston 4.50 3/20/01 5.00
New York 4.50 3/20/01 5.00
Philadelphia 4.50 3/20/01 5.00
Cleveland 4.50 3/20/01 5.00
Richmond 4.50 3/20/01 5.00
Atlanta 4.50 3/20/01 5.00
Chicago 4.50 3/20/01 5.00
St. Louis 4.50 3/21/01 5.00
Minneapolis 4.50 3/20/01 5.00
Kansas City 4.50 3/20/01 5.00
Dallas 4.50 3/20/01 5.00
San Francisco 4.50 3/20/01 5.00
Current and previous levels
Seasonal credit(2)
Federal Reserve
Bank
On Effective date Previous rate
4/6/01
Boston 4.95 4/5/01 5.15
New York 4.95 4/5/01 5.15
Philadelphia 4.95 4/5/01 5.15
Cleveland 4.95 4/5/01 5.15
Richmond 4.95 4/5/01 5.15
Atlanta 4.95 4/5/01 5.15
Chicago 4.95 4/5/01 5.15
St. Louis 4.95 4/5/01 5.15
Minneapolis 4.95 4/5/01 5.15
Kansas City 4.95 4/5/01 5.15
Dallas 4.95 4/5/01 5.15
San Francisco 4.95 4/5/01 5.15
Current and previous levels
Extended credit(3)
Federal Reserve
Bank
On Effective date Previous rate
4/6/01
Boston 5.45 4/5/01 5.65
New York 5.45 4/5/01 5.65
Philadelphia 5.45 4/5/01 5.65
Cleveland 5.45 4/5/01 5.65
Richmond 5.45 4/5/01 5.65
Atlanta 5.45 4/5/01 5.65
Chicago 5.45 4/5/01 5.65
St. Louis 5.45 4/5/01 5.65
Minneapolis 5.45 4/5/01 5.65
Kansas City 5.45 4/5/01 5.65
Dallas 5.45 4/5/01 5.65
San Francisco 5.45 4/5/01 5.65
Range of rates for adjustment credit in recent years(4)
Range (or F.R. Bank
Effective date level)--All of
F.R. Banks N.Y.
In effect Dec. 31, 1977 6 6
1978--Jan. 9 6-6.5 6.5
20 6.5 6.5
May 11 6.5-7 7
12 7 7
July 3 7-7.25 7.25
10 7.25 7.25
Aug. 21 7.75 7.75
Sept. 22 8 8
Oct. 16 8-8.5 8.5
20 8.5 8.5
Nov. 1 8.5-9.5 9.5
3 95 9.5
1979--July 20 10 10
Aug. 17 10-10.5 10.5
20 10.5 10.5
Sept. 19 10.5-11 11
21 11 11
Oct. 8 11-12 12
10 12 12
1980--Feb. 15 12-13 13
19 13 13
May 29 12-13 13
30 12 12
June 13 11-12 11
16 11 11
July 28 10-11 10
29 10 10
Sept. 26 11 11
Nov. 17 12 12
Dec. 5 12-13 13
8 13 13
1981--May 5 13-14 14
8 14 14
Nov. 2 13-14 13
6 13 13
Dec. 4 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
1982--Oct. 12 9.5-10 9.5
13 9.5 9.5
Nov. 22 9-9.5 9
26 9 9
Dec. 14 8.5-9 9
15 8.5-9 8.5
17 8.5 8.5
1984--Apr. 9 8.5-9 9
13 9 9
Nov. 21 8.5-9 8.5
26 8.5 8.5
Dec. 24 8 8
1985--May 20 7.5-8 7.5
24 7.5 7.5
1986--Mar. 7 7-7.5 7
10 7 7
Apr. 21 6.5-7 6.5
23 6.5 6.5
July 11 6 6
Aug. 21 5.5-6 5.5
22 5.5 5.5
1987--Sept. 4 5.5-6 6
11 6 6
1988--Aug. 9 6-6.5 6.5
11 6.5 6.5
1989--Feb. 24 6.5-7 7
27 7 7
1990--Dec. 19 6.5 6.5
1991--Feb. 1 6-6.5 6
4 6 6
Apr. 30 5.5-6 5.5
May 2 5.5 5.5
Sept. 13 5-5.5 5
17 5 5
Nov. 6 4.5-5 4.5
7 4.5 4.5
Dec. 20 3.5-4.5 3.5
24 3.5 3.5
1992--July 2 3-3.5 3
7 3 3
1994--May 17 3-3.5 3.5
18 3.5 3.5
Aug. 16 3.5-4 4
18 4 4
Nov. 15 4-4.75 4.75
17 4.75 4.75
1995--Feb. 1 4.75-5.25 5.25
9 5.25 5.25
1996--Jan. 31 5.00-5.25 5.00
Feb. 5 5.00 5.00
1998--Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 5.00 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
In effect Apr. 6, 2001 4.50 4.50
(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 involve only a particular institution, or to
meet the needs of institutions experiencing difficulties adjusting to
changing market conditions over a longer period (particularly at times
of deposit disintermediation). The discount rate applicable to
adjustment credit ordinarily is charged on extended-credit loans
outstanding less than thirty days; however, at the discretion
of the Federal Reserve Bank, this time period may be shortened. Beyond
this initial period, a flexible rate somewhat above rates charged on
market sources of funds is charged. The rate ordinarily is
reestablished on the first business day of each two-week reserve
maintenance period, but it is never less than the discount rate
applicable to adjustment credit plus 50 basis points.
(4.) For earlier data, see the following publications of the Board
of Governors: Banking and Monetary Statistics, 1914-1941, and
1941-1970; and the Annual Statistical Digest, 1970-1979.
In 1980 and 1981, the Federal Reserve applied a surcharge to
short-term adjustment-credit borrowings by institutions with deposits
of $500 million or more that had borrowed in successive weeks or in
more than four weeks in a calendar quarter. A 3 percent surcharge was
in effect from Mar. 17, 1980, through May 7, 1980. A surcharge of 2
percent was reimposed on Nov. 17, 1980; the surcharge was subsequently
raised to 3 percent on Dec. 5, 1980, and to 4 percent on May 5, 1981.
The surcharge was reduced to 3 percent effective Sept. 22, 1981, and
to 2 percent effective Oct. 12, 1981. As of Oct. 1, 1981, the formula
for applying the surcharge was changed from a calendar quarter to a
moving thirteen-week period. The surcharge was eliminated on Nov.
17, 1981.
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS(1)
Requirement
Type of deposit
Percentage of Effective date
deposits
Net transaction accounts(2)
1 $0 million-$42.8 million(3) 3 12/28/00
2 More than $42.8 million 10 12/28/00
3 Nonpersonal time deposits(5) 0 12/27/90
4 Eurocurrency liabilities(6) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly,
on a pass-through basis, with certain approved institutions. For
previous reserve requirements, see earlier editions of the Annual
Report or the Federal Reserve Bulletin. Under the Monetary Control
Act of 1980, depository institutions include commercial banks, savings
banks, savings and loan associations, credit unions, agencies and
branches of foreign banks, and Edge Act 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
Type of transaction 1998 1999 2000
and maturity
U.S. TREASURY
SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 3,550 0 8,676
2 Gross sales 0 0 0
3 Exchanges 450,835 464,218 477,904
4 For new bills 450,835 464,218 477,904
5 Redemptions 2,000 0 24,522
Others within one year
6 Gross purchases 6,297 11,895 8,809
7 Gross sales 0 0 0
8 Maturity shifts 46,062 50,590 62,025
9 Exchanges -49,434 -53,315 -54,656
10 Redemptions 2,676 1,429 3,779
One to five years
11 Gross purchases 12,901 19,731 14,482
12 Gross sales 0 0 0
13 Maturity shifts -37,777 -44,032 -52,068
14 Exchanges 37,154 42,604 46,177
Five to ten years
15 Gross purchases 2,294 4,303 5,871
16 Gross sales 0 0 0
17 Maturity shifts -5,908 -5,841 -6,801
18 Exchanges 7,439 7,583 6,585
More than ten years
19 Gross purchases 4,884 9,428 5,833
20 Gross sales 0 0 0
21 Maturity shifts -2,377 -717 -3,155
22 Exchanges 4,842 3,139 1,894
All maturities
23 Gross purchases 29,926 45,357 43,670
24 Gross sales 0 0 0
25 Redemptions 4,676 1,429 28,301
Matched transactions
26 Gross purchases 4,430,457 4,413,430 4,399,257
27 Gross sales 4,434,358 4,431,685 4,381,188
Repurchase agreements
28 Gross purchases 512,671 281,599 0
29 Gross sales 514,186 301,273 0
30 Net change in U.S.
Treasury securities 19,835 5,999 33,439
FEDERAL AGENCY
OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 25 0 0
33 Redemptions 322 157 51
Repurchase agreements
34 Gross purchases 284,316 360,069 0
35 Gross sales 276,266 370,772 0
36 Net change in federal
agency obligations 7,703 -10,859 -51
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 0 304,989 890,236
40 Gross sales 0 164,349 987,501
41 Net change in triparty
obligations 0 140,640 -97,265
42 Total net change in System
Open Market Account 27,538 135,780 -63,877
2000
Type of transaction
and maturity
July Aug. Sept.
U.S. TREASURY
SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 1,825 531 231
2 Gross sales 0 0 0
3 Exchanges 33,718 42,797 37,006
4 For new bills 33,718 42,797 37,006
5 Redemptions 4,902 3,438 3,898
Others within one year
6 Gross purchases 1,284 2,770 716
7 Gross sales 0 0 0
8 Maturity shifts 5,152 7,040 0
9 Exchanges -3,333 -7,396 0
10 Redemptions 367 887 0
One to five years
11 Gross purchases 2,259 2,508 2,385
12 Gross sales 0 0 0
13 Maturity shifts -5,152 -3,439 0
14 Exchanges 3,333 5,418 0
Five to ten years
15 Gross purchases 0 1,914 448
16 Gross sales 0 0 0
17 Maturity shifts 0 -3,601 0
18 Exchanges 0 1,254 0
More than ten years
19 Gross purchases 500 727 547
20 Gross sales 0 0 0
21 Maturity shifts 0 0 0
22 Exchanges 0 724 0
All maturities
23 Gross purchases 5,868 8,450 4,326
24 Gross sales 0 0 0
25 Redemptions 5,269 4,325 3,898
Matched transactions
26 Gross purchases 344,935 381,349 335,321
27 Gross sales 344,384 381,475 334,530
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S.
Treasury securities 1,150 3,999 1,219
FEDERAL AGENCY
OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 0 0
33 Redemptions 0 0 10
Repurchase agreements
34 Gross purchases 0 0 0
35 Gross sales 0 0 0
36 Net change in federal
agency obligations 0 0 -10
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 66,485 47,265 66,080
40 Gross sales 75,925 46,230 67,285
41 Net change in triparty
obligations -9,440 1,035 -1,205
42 Total net change in System
Open Market Account -8,290 5,034 4
2000 2001
Type of transaction
and maturity
Oct. Nov. Dec. Jan.
U.S. TREASURY
SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 779 2,507 509 520
2 Gross sales 0 0 0 0
3 Exchanges 38,142 45,182 39,428 40,769
4 For new bills 38,142 45,182 39,428 40,769
5 Redemptions 2,656 1,021 1,145 228
Others within one year
6 Gross purchases 0 580 1,420 0
7 Gross sales 0 0 0 0
8 Maturity shifts 8,663 7,957 0 5,405
9 Exchanges -6,608 -7,012 0 -6,667
10 Redemptions 787 780 0 2,422
One to five years
11 Gross purchases 734 1,332 1,045 925
12 Gross sales 0 0 0 0
13 Maturity shifts -8,663 -5,997 0 -5,405
14 Exchanges 6,608 5,737 0 6,667
Five to ten years
15 Gross purchases 0 510 771 1,283
16 Gross sales 0 0 0 0
17 Maturity shifts 0 -699 0 0
18 Exchanges 0 1,275 0 0
More than ten years
19 Gross purchases 982 0 0 296
20 Gross sales 0 0 0 0
21 Maturity shifts 0 -1,261 0 0
22 Exchanges 0 0 0 0
All maturities
23 Gross purchases 2,495 4,929 3,745 3,024
24 Gross sales 0 0 0 0
25 Redemptions 3,443 1,802 1,145 2,650
Matched transactions
26 Gross purchases 344,920 351,391 345,680 356,250
27 Gross sales 346,428 351,232 348,917 352,336
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in U.S.
Treasury securities -2,457 3,286 -637 4,289
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 64,428 87,125 95,470 104,930
40 Gross sales 62,308 79,295 79,365 129,385
41 Net change in triparty
obligations 2,120 7,830 16,105 -24,455
42 Total net change in System
Open Market Account -337 11,116 15,468 -20,166
(1.) Sales, redemptions, and negative figures reduce holdings of the
System Open Market Account; all other figures increase such holdings.
(2.) Transactions exclude changes in compensation for the effects of
inflation on the principal of inflation-indexed securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve
Note Statements(1)
Millions of dollars
Wednesday
Account
2001
Jan. 31 Feb. 7 Feb. 14
Consolidated condition statement
ASSETS
1 Gold certificate
account 11,046 11,046 11,046
2 Special drawing
rights certificate
account 2,200 2,200 2,200
3 Coin 1,066 1,095 1,120
Loans
4 To depository
institutions 35 31 35
5 Other 0 0 0
6 Acceptances held
under repurchase
agreements 0 0 0
Triparty Obligations
7 Repurchase
agreements--
triparty(2) 18,920 23,985 17,510
Federal agency
obligations(3)
8 Bought outright 130 110 110
9 Held under repurchase
agreements 0 0 0
10 Total U.S. Treasury
securities(3) 516,018 516,486 514,561
11 Bought outright(4) 516,018 516,486 514,561
12 Bills 182,949 183,417 179,718
13 Notes 239,725 239,724 240,940
14 Bonds 93,345 93,345 93,904
15 Held under repurchase
agreements 0 0 0
16 Total loans and
securities 535,103 540,611 532,216
17 Items in process of
collection 10,023 10,270 13,497
18 Bank premises 1,467 1,468 1,469
Other assets
19 Denominated in
foreign
currencies(5) 15,495 15,502 15,509
20 All other(6) 19,673 20,115 20,662
21 Total assets 596,072 602,308 597,719
LIABILITIES
22 Federal Reserve notes 549,436 551,766 553,151
23 Reverse repurchase
agreements--
triparty(2) 0 0 0
24 Total deposits 21,182 24,283 18,996
25 Depository
institutions 15,420 19,947 11,925
26 U.S. Treasury--
General account 5,256 3,905 6,713
27 Foreign--Official
accounts 199 96 72
28 Other 306 335 286
29 Deferred credit
items 7,806 8,353 7,651
30 Other liabilities and
accrued
dividends(7) 3,960 3,996 3,980
31 Total liabilities 582,384 588,397 583,778
CAPITAL ACCOUNTS
32 Capital paid in 7,014 7,016 7,012
33 Surplus 6,265 6,299 6,333
34 Other capital
accounts 409 595 595
35 Total liabilities and
capital accounts 596,072 602,308 597,719
MEMO
36 Marketable U.S.
Treasury
securities
held in custody
foreign and
international
accounts n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding
(issued to Banks) 746,920 746,182 745,878
38 LESS: Held by
Federal
Reserve Banks 197,484 194,416 192,727
39 Federal Reserve
notes, net 549,436 551,766 553,151
Collateral held
against notes, net
40 Gold certificate
account 11,046 11,046 11,046
41 Special drawing rights
certificate
account 2,200 2,200 2,200
42 Other eligible assets 1,122 0 7,724
43 U.S. Treasury and
agency securities 535,068 538,520 532,181
44 Total collateral 549,436 551,766 553,151
Wednesday End of Month
Account
2001 2000
Feb. 21 Feb. 28 Dec. 31
Consolidated condition statement
ASSETS
1 Gold certificate
account 11,046 11,046 11,046
2 Special drawing
rights certificate
account 2,200 2,200 2,200
3 Coin 1,112 1,115 949
Loans
4 To depository
institutions 32 18 110
5 Other 0 0 0
6 Acceptances held
under repurchase
agreements 0 0 0
Triparty Obligations
7 Repurchase
agreements--
triparty(2) 28,765 23,665 43,375
Federal agency
obligations(3)
8 Bought outright 10 10 130
9 Held under repurchase
agreements 0 0 0
10 Total U.S. Treasury
securities(3) 521,118 519,618 511,703
11 Bought outright(4) 521,118 519,618 511,703
12 Bills 183,912 182,998 178,741
13 Notes 242,437 241,792 240,178
14 Bonds 94,770 94,827 92,784
15 Held under repurchase
agreements 0 0 0
16 Total loans and
securities 549,925 543,311 555,318
17 Items in process of
collection 14,267 9,019 7,105
18 Bank premises 1,469 1,476 1,461
Other assets
19 Denominated in
foreign
currencies(5) 15,516 15,386 15,670
20 All other(6) 17,724 17,534 19,766
21 Total assets 613,259 601,086 613,514
LIABILITIES
22 Federal Reserve notes 554,638 554,662 563,450
23 Reverse repurchase
agreements--
triparty(2) 0 0 0
24 Total deposits 29,427 20,667 25,792
25 Depository
institutions 24,993 15,139 19,045
26 U.S. Treasury--
General account 4,100 4,956 5,149
27 Foreign--Official
accounts 77 196 216
28 Other 256 377 1,382
29 Deferred credit
items 11,259 7,915 6,310
30 Other liabilities and
accrued
dividends(7) 3,907 3,931 4,170
31 Total liabilities 599,231 587,175 599,723
CAPITAL ACCOUNTS
32 Capital paid in 7,014 7,023 6,997
33 Surplus 6,367 6,355 6,794
34 Other capital
accounts 648 534 0
35 Total liabilities and
capital accounts 613,259 601,086 613,514
MEMO
36 Marketable U.S.
Treasury
securities
held in custody
foreign and
international
accounts n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding
(issued to Banks) 745,316 744,972 751,714
38 LESS: Held by
Federal
Reserve Banks 190,678 190,310 188,264
39 Federal Reserve
notes, net 554,638 554,662 563,450
Collateral held
against notes, net
40 Gold certificate
account 11,046 11,046 11,046
41 Special drawing rights
certificate
account 2,200 2,200 2,200
42 Other eligible assets 0 0 0
43 U.S. Treasury and
agency securities 541,393 541,417 550,205
44 Total collateral 554,638 554,662 563,450
End of month
Account
2001
Jan. 31 Feb. 28
Consolidated condition
statement
ASSETS
1 Gold certificate
account 11,046 11,046
2 Special drawing
rights certificate
account 2,200 2,200
3 Coin 1,066 1,115
Loans
4 To depository
institutions 35 18
5 Other 0 0
6 Acceptances held
under repurchase
agreements 0 0
Triparty Obligations
7 Repurchase
agreements--
triparty(2) 18,920 23,665
Federal agency
obligations(3)
8 Bought outright 130 10
9 Held under repurchase
agreements 0 0
10 Total U.S. Treasury
securities(3) 516,018 519,618
11 Bought outright(4) 516,018 519,618
12 Bills 182,949 182,998
13 Notes 239,725 241,492
14 Bonds 93,345 94,827
15 Held under repurchase
agreements 0 0
16 Total loans and
securities 535,103 543,311
17 Items in process of
collection 10,023 9,019
18 Bank premises 1,467 1,476
Other assets
19 Denominated in
foreign
currencies(5) 15,495 15,386
20 All other(6) 19,673 17,534
21 Total assets 596,072 601,086
LIABILITIES
22 Federal Reserve notes 549,436 554,662
23 Reverse repurchase
agreements--
triparty(2) 0 0
24 Total deposits 21,182 20,667
25 Depository
institutions 15,420 15,139
26 U.S. Treasury--
General account 5,256 4,956
27 Foreign--Official
accounts 199 196
28 Other 306 377
29 Deferred credit
items 7,806 7,915
30 Other liabilities and
accrued
dividends(7) 3,960 3,731
31 Total liabilities 582,384 587,175
CAPITAL ACCOUNTS
32 Capital paid in 7,014 7,023
33 Surplus 6,265 6,355
34 Other capital
accounts 409 534
35 Total liabilities and
capital accounts 596,072 601,086
MEMO
36 Marketable U.S.
Treasury
securities
held in custody
foreign and
international
accounts n.a. n.a.
Federal Reserve note
statement
37 Federal Reserve notes
outstanding
(issued to Banks) 746,920 744,972
38 LESS: Held by
Federal
Reserve Banks 197,484 190,310
39 Federal Reserve
notes, net 549,436 554,662
Collateral held
against notes, net
40 Gold certificate
account 11,046 11,046
41 Special drawing rights
certificate
account 2,200 2,200
42 Other eligible assets 1,122 0
43 U.S. Treasury and
agency securities 535,068 541,417
44 Total collateral 549,436 554,662
(1.) Some of the data in this table also appear in the Board's H.4.1
(503) weekly statistical release. For ordering address, see inside
front cover.
(2.) Cash value of agreements arranged through third-party custodial
banks.
(3.) Face value of the securities.
(4.) Includes securities loaned--fully guaranteed by U.S. Treasury
securities pledged with Federal Reserve Banks--and includes
compensation that adjusts for the effects of inflation on the principal
of inflation-indexed securities. Excludes securities sold and scheduled
to be bought back under matched sale-purchase transactions.
(5.) Valued monthly at market exchange rates.
(6.) Includes special investment account at the Federal Reserve Bank of
Chicago in Treasury bills maturing within ninety days.
(7.) Includes exchange-translation account reflecting the monthly
revaluation at market exchange rates of foreign exchange commitments.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of
Loan and Security Holding
Millions of dollars
Wednesday
Type of holding and maturity 2001
Jan. 24 Feb. 7 Feb. 14
1 Total loans 28 31 35
2 Within fifteen days(1) 0 17 35
3 Sixteen days to ninety days 0 14 0
4 91 days to 1 year 0 0 0
5 Total U.S. Treasury securities(2) 518,441 516,486 514,561
6 Within fifteen days(1) 22,272 17,723 22,050
7 Sixteen days to ninety days 111,129 115,089 112,965
8 Ninety-one days to one year 124,918 125,624 120,844
9 One year to five years 132,160 130,088 130,246
10 Five years to ten years 56,750 56,750 56,749
11 More than ten years 71,212 71,212 71,707
12 Total federal agency obligations 130 110 110
13 Within fifteen days(1) 0 0 0
14 Sixteen days to ninety days 0 0 0
15 Ninety-one days to one year 0 0 0
16 One year to five years 130 110 110
17 Five years to ten years 0 0 0
18 More than ten years 0 0 0
Wednesday End of month
Type of holding and maturity 2001 2000
Feb. 21 Feb. 28 Dec. 31
1 Total loans 32 18 110
2 Within fifteen days(1) 32 16 96
3 Sixteen days to ninety days 0 2 14
4 91 days to 1 year 0 0 0
5 Total U.S. Treasury securities(2) 521,118 519,618 511,702
6 Within fifteen days(1) 17,859 12,450 18,053
7 Sixteen days to ninety days 118,796 116,644 108,961
8 Ninety-one days to one year 121,988 128,775 125,539
9 One year to five years 134,991 134,268 132,792
10 Five years to ten years 54,894 54,893 55,461
11 More than ten years 72,589 72,589 70,896
12 Total federal agency obligations 10 10 130
13 Within fifteen days(1) 0 0 0
14 Sixteen days to ninety days 0 0 0
15 Ninety-one days to one year 0 0 0
16 One year to five years 10 10 130
17 Five years to ten years 0 0 0
18 More than ten years 0 0 0
End of month
Type of holding and maturity 2001
Jan. 31 Feb. 28
1 Total loans 35 18
2 Within fifteen days(1) 30 16
3 Sixteen days to ninety days 5 2
4 91 days to 1 year 0 0
5 Total U.S. Treasury securities(2) 516,018 519,618
6 Within fifteen days(1) 20,921 12,450
7 Sixteen days to ninety days 112,430 116,644
8 Ninety-one days to one year 124,617 128,775
9 One year to five years 130,088 134,268
10 Five years to ten years 56,750 54,893
11 More than ten years 71,212 72,589
12 Total federal agency obligations 130 10
13 Within fifteen days(1) 0 0
14 Sixteen days to ninety days 0 0
15 Ninety-one days to one year 0 0
16 One year to five years 130 10
17 Five years to ten years 0 0
18 More than ten years 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
Item Dec. Dec. Dec.(r)
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 46.85(r) 45.18(r) 41.78
2 Nonborrowed reserves(4) 46.52(r) 45.07 41.46
3 Nonborrowed reserves plus
extended credit(5) 46.52(r) 45.07 41.46
4 Required reserves 45.16(r) 43.67(r) 40.48
5 Monetary base(6) 479.47(r) 513.49(r) 593.09
Not seasonally adjusted
6 Total reserves(7) 48.01 45.31 41.89
7 Nonborrowed reserves 47.69 45.19 41.57
8 Nonborrowed reserves plus
extended credit(5) 47.69 45.19 41.57
9 Required reserves(8) 46.33 43.80 40.59
10 Monetary base(9) 484.98 518.27 600.72
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 47.92 45.21 41.65
12 Nonborrowed reserves 47.60 45.09 41.33
13 Nonborrowed reserves plus
extended credit(5) 47.60 45.09 41.33
14 Required reserves 46.24 43.70 40.36
15 Monetary base(12) 491.79 525.06 608.02
16 Excess reserves(13) 1.69 1.51 1.30
17 Borrowings from the
Federal Reserve .32 .12 .32
2000(r)
2000
Item Dec.(r)
July Aug.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 38.51 40.12 39.64
2 Nonborrowed reserves(4) 38.30 39.56 39.06
3 Nonborrowed reserves plus
extended credit(5) 38.30 39.56 39.06
4 Required reserves 37.18 38.98 38.64
5 Monetary base(6) 583.97 576.96 577.53
Not seasonally adjusted
6 Total reserves(7) 38.60 39.93 39.51
7 Nonborrowed reserves 38.39 39.36 38.93
8 Nonborrowed reserves plus
extended credit(5) 38.39 39.36 38.93
9 Required reserves(8) 37.27 38.79 38.51
10 Monetary base(9) 590.20 577.49 576.66
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 38.54 39.88 39.46
12 Nonborrowed reserves 38.33 39.32 38.89
13 Nonborrowed reserves plus
extended credit(5) 38.33 39.32 38.89
14 Required reserves 37.22 38.74 38.46
15 Monetary base(12) 597.12 584.28 583.40
16 Excess reserves(13) 1.33 1.14 1.00
17 Borrowings from the
Federal Reserve .21 .57 .58
2000(r)
Item
Sept. Oct. Nov.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 39.39 39.02 39.02
2 Nonborrowed reserves(4) 38.91 38.60 38.74
3 Nonborrowed reserves plus
extended credit(5) 38.91 38.60 38.74
4 Required reserves 38.27 37.87 37.82
5 Monetary base(6) 578.34 579.70 581.40
Not seasonally adjusted
6 Total reserves(7) 39.22 38.84 38.85
7 Nonborrowed reserves 38.75 38.42 38.56
8 Nonborrowed reserves plus
extended credit(5) 38.75 38.42 38.56
9 Required reserves(8) 38.11 37.69 37.65
10 Monetary base(9) 576.84 578.29 582.36
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 39.17 38.78 38.79
12 Nonborrowed reserves 38.69 38.36 38.50
13 Nonborrowed reserves plus
extended credit(5) 38.69 38.36 38.50
14 Required reserves 38.05 37.63 37.58
15 Monetary base(12) 583.52 585.01 589.12
16 Excess reserves(13) 1.12 1.15 1.20
17 Borrowings from the
Federal Reserve .48 .42 .28
2000(r) 2001
Item
Dec. Jan.(r) Feb.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(2)
1 Total reserves(3) 38.51 38.83 38.82
2 Nonborrowed reserves(4) 38.30 38.75 38.77
3 Nonborrowed reserves plus
extended credit(5) 38.30 38.75 38.77
4 Required reserves 37.18 37.57 37.47
5 Monetary base(6) 583.97 589.40 591.03
Not seasonally adjusted
6 Total reserves(7) 38.60 39.78 39.33
7 Nonborrowed reserves 38.39 39.70 39.28
8 Nonborrowed reserves plus
extended credit(5) 38.39 39.70 39.28
9 Required reserves(8) 37.27 38.52 37.98
10 Monetary base(9) 590.20 591.49 588.94
NOT ADJUSTED FOR
CHANGES IN RESERVE
REQUIREMENTS(10)
11 Total reserves(11) 38.54 39.79 39.30
12 Nonborrowed reserves 38.33 39.72 39.25
13 Nonborrowed reserves plus
extended credit(5) 38.33 39.72 39.25
14 Required reserves 37.22 38.54 37.95
15 Monetary base(12) 597.12 598.37 595.49
16 Excess reserves(13) 1.33 1.25 1.35
17 Borrowings from the
Federal Reserve .21 .07 .05
(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 MEASURES1
Billions of dollars, averages of daily figures
1997 1998
Item Dec. Dec.
Seasonally adjusted
Measures(2)
1 M1 1,073.4 1,097.0
2 M2 4,030.4(r) 4,383.4(r)
3 M3 5,427.8(r) 6,027.3(r)
4 Debt 15,223.0(r) 16,277.8(r)
M1 components
5 Currency(3) 424.3 459.2
6 Travelers checks(4) 8.1 8.2
7 Demand deposits(5) 395.4 379.4
8 Other checkable deposits(6) 245.7 250.1
Nontransaction components
9 In M2(7) 2,957.0(r) 3,286.4(r)
10 In M3 only(8) 1,397.4(r) 1,643.9(r)
Commercial banks
11 Savings deposits, including MMDAs 1,021.1 1,185.8
12 Small time deposits(9) 625.5 626.4
13 Large time deposits(l0, 11) 517.6(r) 575.4(r)
Thrift institutions
14 Savings deposits, including MMDAs 376.8 414.1
15 Small time deposits(9) 342.9 325.8
16 Large time deposits(10) 85.5 88.7
Money market mutual funds
17 Retail 590.6(r) 734.3(r)
18 Institution-only 390.0(r) 530.4(r)
Repurchase agreements and eurodollars
19 Repurchase agreements(12) 254.3(r) 297.5(r)
20 Eurodollars 150.0 151.8
Debt components
21 Federal debt 3,800.6 3,751.2
22 Nonfederal debt 11,422.5 12,526.6(r)
Not seasonally adjusted
Measures(2)
23 M1 1,096.9 1,120.4
24 M2 4,051.8 4,405.7(r)
25 M3 5,453.1 6,059.4(r)
26 Debt 15,218.8 16,273.1(r)
M1 components
27 Currency(3) 428.1 463.3
28 Travelers checks(4) 8.3 8.4
29 Demand deposits(5) 412.4 395.9
30 Other checkable deposits(6) 248.2 252.8
Nontransaction components
31 In M2(7) 2,954.9 3,285.3(r)
32 In M3 only(8) 1,401.3 1,653.7(r)
Commercial banks
33 Savings deposits, including MMDAs 1,020.4 1,186.0
34 Small time deposits(9) 625.3 626.5
35 Large time deposits(10, 11) 517.0(r) 574.8(r)
Thrift institutions
36 Savings deposits, including MMDAs 376.5 414.2
37 Small time deposits(9) 342.8 325.8
38 Large time deposits(10) 85.4 88.6
Money market mutual funds
39 Retail 589.9(r)
40 Institution-only 397.0 542.4(r)
Repurchase agreements and eurodollars
41 Repurchase agreements(12) 249.5(r) 293.4(r)
42 Eurodollars(12) 152.3 154.5
Debt components
43 Federal debt 3,805.8 3,754.9
44 Nonfederal debt 11,413.0(r) 12,518.2(r)
1999 2000
Item Dec.(r) Dec.(r)
Seasonally adjusted
Measures(2)
1 M1 1,124.3 1,090.3
2 M2 4,650.0 4,947.3
3 M3 6,526.8 7,095.9
4 Debt 17,379.9 18,304.0
M1 components
5 Currency(3) 516.7 530.1
6 Travelers checks(4) 8.2 8.0
7 Demand deposits(5) 355.6 313.2
8 Other checkable deposits(6) 243.7 239.0
Nontransaction components
9 In M2(7) 3,525.7 3,857.0
10 In M3 only(8) 1,876.8 2,148.6
Commercial banks
11 Savings deposits, including MMDAs 1,287.0 1,420.3
12 Small time deposits(9) 635.2 699.9
13 Large time deposits(l0, 11) 648.6 726.9
Thrift institutions
14 Savings deposits, including MMDAs 449.3 451.7
15 Small time deposits(9) 320.9 346.3
16 Large time deposits(10) 91.3 103.1
Money market mutual funds
17 Retail 833.4 938.8
18 Institution-only 622.4 767.4
Repurchase agreements and eurodollars
19 Repurchase agreements(12) 341.2 360.5
20 Eurodollars 173.3 190.7
Debt components
21 Federal debt 3,660.3 3,400.5
22 Nonfederal debt 13,719.6 14,903.5
Not seasonally adjusted
Measures(2)
23 M1 1,147.8 1,114.6
24 M2 4,674.0 4,976.0
25 M3 6,564.2 7,140.9
26 Debt 17,375.3 18,296.1
M1 components
27 Currency(3) 521.5 535.4
28 Travelers checks(4) 8.4 8.1
29 Demand deposits(5) 371.2 328.6
30 Other checkable deposits(6) 246.6 242.5
Nontransaction components
31 In M2(7) 3,526.3 3,861.4
32 In M3 only(8) 1,890.2 2,164.9
Commercial banks
33 Savings deposits, including MMDAs 1,288.5 1,425.0
34 Small time deposits(9) 635.4 700.1
35 Large time deposits(10, 11) 648.0 726.2
Thrift institutions
36 Savings deposits, including MMDAs 449.8 453.2
37 Small time deposits(9) 321.0 346.4
38 Large time deposits(10) 91.2 103.0
Money market mutual funds
39 Retail 831.5 936.6
40 Institution-only 637.3 785.3
Repurchase agreements and eurodollars
41 Repurchase agreements(12) 337.7 357.5
42 Eurodollars(12) 176.0 193.0
Debt components
43 Federal debt 3,663.2 3,403.5
44 Nonfederal debt 13,712.1 14,892.6
2000(r)
Item
Nov. Dec.
Seasonally adjusted
Measures(2)
1 M1 1,088.5 1,090.3
2 M2 4,908.0 4,947.3
3 M3 7,015.0 7,095.9
4 Debt 18,216.5 18,304.0
M1 components
5 Currency(3) 527.7 530.1
6 Travelers checks(4) 8.0 8.0
7 Demand deposits(5) 314.8 313.2
8 Other checkable deposits(6) 238.0 239.0
Nontransaction components
9 In M2(7) 3,819.5 3,857.0
10 In M3 only(8) 2,107.0 2,148.6
Commercial banks
11 Savings deposits, including MMDAs 1,401.3 1,420.3
12 Small time deposits(9) 694.4 699.9
13 Large time deposits(l0, 11) 703.9 726.9
Thrift institutions
14 Savings deposits, including MMDAs 455.2 451.7
15 Small time deposits(9) 344.7 346.3
16 Large time deposits(10) 103.7 103.1
Money market mutual funds
17 Retail 923.8 938.8
18 Institution-only 751.8 767.4
Repurchase agreements and eurodollars
19 Repurchase agreements(12) 356.8 360.5
20 Eurodollars 190.9 190.7
Debt components
21 Federal debt 3,419.3 3,400.5
22 Nonfederal debt 14,797.2 14,903.5
Not seasonally adjusted
Measures(2)
23 M1 1,094.7 1,114.6
24 M2 4,900.2 4,976.0
25 M3 7,010.6 7,140.9
26 Debt 18,191.7 18,296.1
M1 components
27 Currency(3) 528.3 535.4
28 Travelers checks(4) 8.2 8.1
29 Demand deposits(5) 320.1 328.6
30 Other checkable deposits(6) 238.0 242.5
Nontransaction components
31 In M2(7) 3,805.5 3,861.4
32 In M3 only(8) 2,110.5 2,164.9
Commercial banks
33 Savings deposits, including MMDAs 1,397.1 1,425.0
34 Small time deposits(9) 695.8 700.1
35 Large time deposits(10, 11) 705.0 726.2
Thrift institutions
36 Savings deposits, including MMDAs 453.8 453.2
37 Small time deposits(9) 345.4 346.4
38 Large time deposits(10) 103.9 103.0
Money market mutual funds
39 Retail 913.4 936.6
40 Institution-only 755.5 785.3
Repurchase agreements and eurodollars
41 Repurchase agreements(12) 356.0 357.5
42 Eurodollars(12) 190.1 193.0
Debt components
43 Federal debt 3,401.2 3,403.5
44 Nonfederal debt 14,790.5 14,892.6
2001
Item
Jan.(r) Feb.
Seasonally adjusted
Measures(2)
1 M1 1,101.2 1,101.2
2 M2 4,998.2 5,043.0
3 M3 7,190.8 7,260.7
4 Debt 18,362.0 n.a.
M1 components
5 Currency(3) 534.5 537.3
6 Travelers checks(4) 8.1 8.0
7 Demand deposits(5) 317.0 314.7
8 Other checkable deposits(6) 241.7 241.1
Nontransaction components
9 In M2(7) 3,897.0 3,941.8
10 In M3 only(8) 2,192.6 2,217.7
Commercial banks
11 Savings deposits, including MMDAs 1,435.9 1,464.4
12 Small time deposits(9) 702.8 699.4
13 Large time deposits(l0, 11) 740.2 715.6
Thrift institutions
14 Savings deposits, including MMDAs 452.4 462.8
15 Small time deposits(9) 350.5 352.5
16 Large time deposits(10) 106.1 106.7
Money market mutual funds
17 Retail 955.4 962.7
18 Institution-only 801.0 859.0
Repurchase agreements and eurodollars
19 Repurchase agreements(12) 357.3 348.3
20 Eurodollars 188.0 188.1
Debt components
21 Federal debt 3,380.4 n.a.
22 Nonfederal debt 14,981.6 n.a.
Not seasonally adjusted
Measures(2)
23 M1 1,104.4 1,088.6
24 M2 5,007.6 5,041.8
25 M3 7,220.9 7,295.6
26 Debt 18,359.7 n.a.
M1 components
27 Currency(3) 532.3 535.9
28 Travelers checks(4) 8.2 8.2
29 Demand deposits(5) 317.0 305.7
30 Other checkable deposits(6) 243.9 238.9
Nontransaction components
31 In M2(7) 3,906.2 3,953.3
32 In M3 only(8) 2,213.4 2,253.8
Commercial banks
33 Savings deposits, including MMDAs 1,433.6 1,456.1
34 Small time deposits(9) 704.1 701.7
35 Large time deposits(10, 11) 733.9 716.1
Thrift institutions
36 Savings deposits, including MMDAs 451.7 460.2
37 Small time deposits(9) 351.1 353.7
38 Large time deposits(10) 105.2 106.8
Money market mutual funds
39 Retail 965.7 981.5
40 Institution-only 827.8 889.0
Repurchase agreements and eurodollars
41 Repurchase agreements(12) 356.7 352.8
42 Eurodollars(12) 189.8 189.2
Debt components
43 Federal debt 3,373.2 n.a.
44 Nonfederal debt 14,986.5 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:
MI: (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 MI is
computed by summing currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money
market funds. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result
to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada.
Excludes amounts held by depository institutions, the U.S. government,
money market funds, and foreign banks and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of
the domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data,
which are derived from the Federal Reserve Board's flow of funds
accounts, are break-adjusted (that is, discontinuities in the data
have been smoothed into the series) and month-averaged (that is,
the data have been derived by averaging adjacent month-end levels).
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks,
and vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks
of nonbank issuers. Travelers checks issued by depository
institutions are included in demand deposits.
(5.) Demand deposits at commercial banks and foreign-related
institutions other than those owed to depository institutions,
the U.S. government, and foreign banks and official institutions,
less cash items in the process of collection and Federal Reserve float.
(6.) Consists of NOW and ATS account balances at all depository
institutions, credit union share draft account balances, and demand
deposits at thrift institutions.
(7.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances.
(8.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees.
(9.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRAs and Keogh accounts at
commercial banks and thrift institutions are subtracted from small
time deposits.
(10.) Large time deposits are those issued in amounts of $100,000
or more, excluding those booked at international banking facilities.
(11.) Large time deposits at commercial banks less those held by
money market funds, depository institutions, the U.S. government,
and foreign banks and official institutions.
(12.) Includes both overnight and term.
1.26 COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities(1)
A. All commercial banks
Billions of dollars
Monthly averages
Account 2000 2000(r)
Feb. Aug.
Seasonally adjusted
Assets
1 Bank credit 4,839.9(r) 5,122.7
2 Securities in bank credit 1,272.5(r) 1,321.1
3 U.S. government securities 816.1(r) 813.5
4 Other securities 456.4(r) 507.6
5 Loans and leases in bank credit(2) 3,567.4 3,801.7
6 Commercial and industrial 1,024.7 1,081.3
7 Real estate 1,508.2 1,624.5
8 Revolving home equity 106.2 120.6
9 Other 1,402.0 1,503.9
10 Consumer 500.8 528.7
11 Security(3) 142.8 158.2
12 Other loans and leases 390.8 408.9
13 Interbank loans 225.0 247.6
14 Cash assets(4) 291.1(r) 270.7
15 Other assets(5) 359.7 395.8
16 Total assets(6) 5,656.7(r) 5,974.8
Liabilities
17 Deposits 3,512.1 3,753.4
18 Transaction 648.0 617.1
19 Nontransaction 2,864.1 3,136.2
20 Large time 846.4 931.1
21 Other 2,017.7 2,205.2
22 Borrowings 1,141.3 1,228.0
23 From banks in the U.S. 367.2 389.4
24 From others 774.2 838.6
25 Net due to related foreign offices 231.3 269.7
26 Other liabilities 298.6 312.2
27 Total liabilities 5,183.4 5,563.3
28 Residual (assets less liabilities)(7) 473.3(r) 411.5
Not seasonally
adjusted
Assets
29 Bank credit 4,842.5(r) 5,093.9
30 Securities in bank credit 1,276.6(r) 1,308.3
31 U.S. government securities 820.0(r) 804.6
32 Other securities 456.6(r) 503.7
33 Loans and leases in bank credit(2) 3,565.9 3,785.6
34 Commercial and industrial 1,025.3 1,071.0
35 Real estate 1,505.1 1,624.6
36 Revolving home equity 105.9 120.8
37 Other 1,399.2 1,503.8
38 Consumer 502.9 527.6
39 Credit cards and related plans n.a. 204.4
40 Other n.a. 323.2
41 Security(3) 144.4 153.1
42 Other loans and leases 388.3 409.4
43 Interbank loans 226.4 237.6
44 Cash assets(4) 291.6(r) 258.3
45 Other assets(5) 362.0 394.1
46 Total assets(6) 5,663.6(r) 5,921.8
Liabilities
47 Deposits 3,511.0 3,721.1
48 Transaction 640.7 601.5
49 Nontransaction 2,870.2 3,119.6
50 Large time 859.1 914.1
51 Other 2,011.2 2,205.5
52 Borrowings 1,145.5 1,200.7
53 From banks in the US 368.8 385.0
54 From others 776.8 815.7
55 Net due to related foreign offices 245.8 267.0
56 Other liabilities 301.0 311.7
57 Total liabilities 5,203.2 5,500.6
58 Residual (assets less liabilities)(7) 460.3(r) 421.2
Monthly averages
Account 2000(r)
Sept. Oct.
Seasonally adjusted
Assets
1 Bank credit 5,170.9 5,150.1
2 Securities in bank credit 1,331.7 1,310.0
3 U.S. government securities 808.1 794.4
4 Other securities 523.6 515.6
5 Loans and leases in bank credit(2) 3,839.2 3,840.0
6 Commercial and industrial 1,081.1 1,081.2
7 Real estate 1,635.4 1,635.2
8 Revolving home equity 122.4 125.3
9 Other 1,513.0 1,509.9
10 Consumer 532.0 532.2
11 Security(3) 178.8 176.5
12 Other loans and leases 411.9 414.8
13 Interbank loans 240.0 248.1
14 Cash assets(4) 268.1 266.8
15 Other assets(5) 396.1 418.0
16 Total assets(6) 6,012.7 6,020.9
Liabilities
17 Deposits 3,771.1 3,784.2
18 Transaction 609.6 612.5
19 Nontransaction 3,161.5 3,171.7
20 Large time 920.5 914.7
21 Other 2,241.0 2,257.1
22 Borrowings 1,220.8 1,213.7
23 From banks in the U.S. 373.9 370.2
24 From others 846.9 843.5
25 Net due to related foreign offices 269.2 251.9
26 Other liabilities 331.4 349.8
27 Total liabilities 5,592.4 5,599.7
28 Residual (assets less liabilities)(7) 420.2 421.2
Not seasonally
adjusted
Assets
29 Bank credit 5,157.7 5,163.6
30 Securities in bank credit 1,326.5 1,314.5
31 U.S. government securities 800.1 789.3
32 Other securities 526.4 525.2
33 Loans and leases in bank credit(2) 3,831.2 3,849.2
34 Commercial and industrial 1,077.0 1,082.0
35 Real estate 1,635.8 1,640.9
36 Revolving home equity 123.2 125.9
37 Other 1,512.7 1,515.0
38 Consumer 532.8 529.9
39 Credit cards and related plans 208.1 206.9
40 Other 324.6 323.1
41 Security(3) 171.9 180.3
42 Other loans and leases 413.7 415.9
43 Interbank loans 233.5 241.9
44 Cash assets(4) 263.8 267.8
45 Other assets(5) 394.6 410.8
46 Total assets(6) 5,986.9 6,022.0
Liabilities
47 Deposits 3,755.0 3,777.3
48 Transaction 603.3 604.5
49 Nontransaction 3,151.7 3,172.8
50 Large time 909.5 912.0
51 Other 2,242.1 2,260.9
52 Borrowings 1,216.5 1,215.6
53 From banks in the US 373.5 369.3
54 From others 842.9 846.3
55 Net due to related foreign offices 264.2 253.0
56 Other liabilities 330.7 348.8
57 Total liabilities 5,566.3 5,594.7
58 Residual (assets less liabilities)(7) 420.6 427.3
Monthly averages
Account 2000(r)
Nov. Dec.
Seasonally averages
Assets
1 Bank credit 5,162.3 5,225.5
2 Securities in bank credit 1,303.0 1,335.5
3 U.S. government securities 784.3 786.5
4 Other securities 518.6 549.1
5 Loans and leases in bank credit(2) 3,859.3 3,889.9
6 Commercial and industrial 1,082.5 1,091.5
7 Real estate 1,646.6 1,653.3
8 Revolving home equity 127.0 128.5
9 Other 1,519.7 1,524.9
10 Consumer 535.3 536.7
11 Security(3) 178.1 186.5
12 Other loans and leases 416.8 421.9
13 Interbank loans 247.2 252.8
14 Cash assets(4) 254.4 266.1
15 Other assets(5) 407.5 407.3
16 Total assets(6) 6,009.0 6,088.2
Liabilities
17 Deposits 3,772.1 3,848.5
18 Transaction 597.8 596.8
19 Nontransaction 3,174.3 3,251.7
20 Large time 911.8 929.2
21 Other 2,262.5 2,322.5
22 Borrowings 1,209.9 1,241.4
23 From banks in the U.S. 365.8 393.0
24 From others 844.1 848.3
25 Net due to related foreign offices 241.5 224.3
26 Other liabilities 350.0 348.4
27 Total liabilities 5,573.5 5,662.7
28 Residual (assets less liabilities)(7) 435.6 425.5
Not seasonally
adjusted
Assets
29 Bank credit 5,193.3 5,259.0
30 Securities in bank credit 1,317.9 1,345.3
31 U.S. government securities 786.9 788.2
32 Other securities 531.0 557.1
33 Loans and leases in bank credit(2) 3,875.4 3,913.8
34 Commercial and industrial 1,086.7 1,094.1
35 Real estate 1,654.6 1,658.6
36 Revolving home equity 127.5 128.9
37 Other 1,527.1 1,529.6
38 Consumer 534.3 542.6
39 Credit cards and related plans 210.3 219.4
40 Other 324.0 323.2
41 Security(3) 180.4 190.7
42 Other loans and leases 419.3 427.8
43 Interbank loans 252.1 260.2
44 Cash assets(4) 262.3 285.0
45 Other assets(5) 404.5 407.2
46 Total assets(6) 6,049.7 6,147.8
Liabilities
47 Deposits 3,801.5 3,889.6
48 Transaction 605.4 627.9
49 Nontransaction 3,196.1 3,261.7
50 Large time 922.6 945.5
51 Other 2,273.5 2,316.2
52 Borrowings 1,219.0 1,252.1
53 From banks in the US 369.3 398.8
54 From others 849.7 853.4
55 Net due to related foreign offices 246.6 230.7
56 Other liabilities 351.1 350.9
57 Total liabilities 5,618.3 5,723.3
58 Residual (assets less liabilities)(7) 431.4 424.5
Monthly averages
Account 2001
Jan.(r) Feb.
Seasonally adjusted
Assets
1 Bank credit 5,265.0 5,287.9
2 Securities in bank credit 1,357.3 1,354.4
3 U.S. government securities 786.9 775.2
4 Other securities 570.3 579.2
5 Loans and leases in bank credit(2) 3,907.8 3,933.5
6 Commercial and industrial 1,106.4 1,114.7
7 Real estate 1,652.3 1,665.3
8 Revolving home equity 129.5 131.0
9 Other 1,522.8 1,534.3
10 Consumer 539.0 539.9
11 Security(3) 184.2 183.8
12 Other loans and leases 425.9 429.7
13 Interbank loans 270.2 264.2
14 Cash assets(4) 273.7 263.6
15 Other assets(5) 421.9 421.0
16 Total assets(6) 6,166.5 6,172.0
Liabilities
17 Deposits 3,891.3 3,904.3
18 Transaction 606.6 602.6
19 Nontransaction 3,284.7 3,301.7
20 Large time 943.2 936.7
21 Other 2,341.6 2,365.0
22 Borrowings 1,270.8 1,270.2
23 From banks in the U.S. 404.3 403.2
24 From others 866.4 866.9
25 Net due to related foreign offices 223.0 212.2
26 Other liabilities 367.7 349.5
27 Total liabilities 5,752.8 5,736.1
28 Residual (assets less liabilities)(7) 413.7 435.9
Not seasonally
adjusted
Assets
29 Bank credit 5,288.9 5,287.6
30 Securities in bank credit 1,366.6 1,358.0
31 U.S. government securities 788.6 779.2
32 Other securities 578.1 578.8
33 Loans and leases in bank credit(2) 3,922.2 3,929.6
34 Commercial and industrial 1,103.8 1,114.7
35 Real estate 1,656.4 1,661.7
36 Revolving home equity 129.8 130.6
37 Other 1,526.6 1,531.0
38 Consumer 545.1 541.1
39 Credit cards and related plans 219.8 214.8
40 Other 325.4 326.3
41 Security(3) 188.6 185.7
42 Other loans and leases 428.4 426.4
43 Interbank loans 271.2 266.1
44 Cash assets(4) 287.3 264.6
45 Other assets(5) 420.4 423.2
46 Total assets(6) 6,203.8 6,176.7
Liabilities
47 Deposits 3,903.4 3,903.2
48 Transaction 617.0 596.0
49 Nontransaction 3,286.4 3,307.2
50 Large time 956.1 949.9
51 Other 2,330.3 2,357.3
52 Borrowings 1,288.3 1,272.5
53 From banks in the US 407.3 402.9
54 From others 881.0 869.6
55 Net due to related foreign offices 225.5 225.6
56 Other liabilities 369.2 351.8
57 Total liabilities 5,786.4 5,753.1
58 Residual (assets less liabilities)(7) 417.4 423.7
Wednesday figures
Account 2001
Feb. 7 Feb. 14
Seasonally adjusted
Assets
1 Bank credit 5,268.0 5,273.2
2 Securities in bank credit 1,350.6 1,355.2
3 U.S. government securities 775.3 780.2
4 Other securities 575.2 574.9
5 Loans and leases in bank credit(2) 3,917.4 3,918.0
6 Commercial and industrial 1,114.0 1,111.0
7 Real estate 1,659.4 1,660.5
8 Revolving home equity 130.4 130.7
9 Other 1,528.9 1,529.8
10 Consumer 538.7 540.8
11 Security(3) 176.4 179.1
12 Other loans and leases 428.9 426.5
13 Interbank loans 267.8 254.3
14 Cash assets(4) 264.2 249.2
15 Other assets(5) 411.7 414.6
16 Total assets(6) 6,147.0 6,126.6
Liabilities
17 Deposits 3,882.7 3,887.7
18 Transaction 577.5 588.3
19 Nontransaction 3,305.2 3,299.4
20 Large time 939.9 937.6
21 Other 2,365.4 2,361.8
22 Borrowings 1,267.8 1,274.6
23 From banks in the U.S. 405.2 401.0
24 From others 862.6 873.6
25 Net due to related foreign offices 223.3 188.3
26 Other liabilities 351.1 348.5
27 Total liabilities 5,724.9 5,699.1
28 Residual (assets less liabilities)(7) 422.1 427.4
Not seasonally
adjusted
Assets
29 Bank credit 5,276.7 5,278.6
30 Securities in bank credit 1,358.8 1,360.2
31 U.S. government securities 780.0 783.9
32 Other securities 578.8 576.3
33 Loans and leases in bank credit(2) 3,917.9 3,918.4
34 Commercial and industrial 1,112.0 1,111.2
35 Real estate 1,660.3 1,659.8
36 Revolving home equity 130.3 130.5
37 Other 1,530.0 1,529.2
38 Consumer 541.0 542.3
39 Credit cards and related plans 213.4 215.4
40 Other 327.6 327.0
41 Security(3) 178.6 181.3
42 Other loans and leases 426.0 423.8
43 Interbank loans 269.9 258.4
44 Cash assets(4) 252.3 250.1
45 Other assets(5) 414.4 416.4
46 Total assets(6) 6,148.8 6,138.9
Liabilities
47 Deposits 3,880.5 3,891.8
48 Transaction 563.1 584.6
49 Nontransaction 3,317.4 3,307.2
50 Large time 953.6 950.9
51 Other 2,363.8 2,356.3
52 Borrowings 1,269.8 1,278.7
53 From banks in the US 403.3 401.8
54 From others 866.5 876.9
55 Net due to related foreign offices 227.1 197.3
56 Other liabilities 353.7 350.8
57 Total liabilities 5,731.1 5,718.6
58 Residual (assets less liabilities)(7) 417.7 420.2
Wednesday figures
Account 2001
Feb. 21 Feb. 28
Seasonally adjusted
Assets
1 Bank credit 5,284.6 5,325.8
2 Securities in bank credit 1,353.4 1,358.5
3 U.S. government securities 773.5 771.6
4 Other securities 579.9 586.9
5 Loans and leases in bank credit(2) 3,931.1 3,967.4
6 Commercial and industrial 1,116.1 1,117.6
7 Real estate 1,665.8 1,675.7
8 Revolving home equity 131.2 131.7
9 Other 1,534.6 1,544.0
10 Consumer 542.3 537.8
11 Security(3) 179.6 200.1
12 Other loans and leases 427.4 436.1
13 Interbank loans 262.0 272.6
14 Cash assets(4) 272.2 268.9
15 Other assets(5) 436.5 421.2
16 Total assets(6) 6,190.4 6,223.9
Liabilities
17 Deposits 3,913.0 3,933.6
18 Transaction 616.2 628.3
19 Nontransaction 3,296.7 3,305.3
20 Large time 938.9 930.5
21 Other 2,357.9 2,374.8
22 Borrowings 1,251.6 1,286.6
23 From banks in the U.S. 392.9 413.6
24 From others 858.7 872.9
25 Net due to related foreign offices 217.4 219.8
26 Other liabilities 350.6 347.9
27 Total liabilities 5,732.6 5,787.9
28 Residual (assets less liabilities)(7 457.8 436.1
Not seasonally
adjusted
Assets
29 Bank credit 5,272.2 5,322.8
30 Securities in bank credit 1,352.9 1,360.0
31 U.S. government securities 776.4 776.5
32 Other securities 576.5 583.5
33 Loans and leases in bank credit(2) 3,919.3 3,962.8
34 Commercial and industrial 1,115.2 1,120.6
35 Real estate 1,657.9 1,668.7
36 Revolving home equity 130.6 131.1
37 Other 1,527.3 1,537.6
38 Consumer 543.0 537.9
39 Credit cards and related plans 217.6 212.8
40 Other 325.4 325.0
41 Security(3) 180.0 203.0
42 Other loans and leases 423.1 432.7
43 Interbank loans 260.9 275.0
44 Cash assets(4) 285.6 270.1
45 Other assets(5) 435.9 426.0
46 Total assets(6) 6,190.0 6,229.3
Liabilities
47 Deposits 3,907.9 3,932.5
48 Transaction 613.2 623.0
49 Nontransaction 3,294.7 3,309.5
50 Large time 950.3 944.6
51 Other 2,344.4 2,364.9
52 Borrowings 1,256.0 1,285.4
53 From banks in the US 393.8 412.7
54 From others 862.2 872.7
55 Net due to related foreign offices 238.9 239.1
56 Other liabilities 352.5 350.2
57 Total liabilities 5,755.3 5,807.3
58 Residual (assets less liabilities)(7) 434.7 422.1
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2000 2000(r)
Feb. Aug.
Seasonally adjusted
Assets
1 Bank credit 4,296.4(r) 4,535.9
2 Securities in bank credit 1,077.1(r) 1,109.8
3 U.S. government securities 740.1(r) 734.3
4 Other securities 337.0(r) 375.6
5 Loans and leases in bank credit(2) 3,219.3 3,426.1
6 Commercial and industrial 828.2 874.8
7 Real estate 1,491.3 1,606.1
8 Revolving home equity 106.2 120.6
9 Other 1,385.1 1,485.6
10 Consumer 500.8 528.7
11 Security(3) 76.0 76.5
12 Other loans and leases 322.9 339.9
13 Interbank loans 192.3 225.1
14 Cash assets(4) 241.2 226.4
15 Other assets(5) 322.0 354.8
16 Total assets(6) 4,993.3(r) 5,280.6
Liabilities
17 Deposits 3,134.9 3,357.8
18 Transaction 637.1 606.3
19 Nontransaction 2,497.9 2,751.5
20 Large time 479.1 548.8
21 Other 2,018.7 2,202.7
22 Borrowings 965.9 1,029.1
23 From banks in the U.S. 348.7 372.4
24 From others 617.2 656.7
25 Net due to related foreign offices 203.9 246.4
26 Other liabilities 224.4 239.7
27 Total liabilities 4,529.2 4,873.0
28 Residual (assets less liabilities)(7) 464.1(r) 407.6
Not seasonally
adjusted
Assets
29 Bank credit 4,294.8(r) 4,517.0
30 Securities in bank credit 1,079.9(r) 1,102.9
31 U.S. government securities 743.9(r) 727.0
32 Other securities 336.0(r) 375.9
33 Loans and leases in bank credit(2) 3,214.9 3,414.1
34 Commercial and industrial 826.4 867.1
35 Real estate 1,487.9 1,606.4
36 Revolving home equity 105.9 120.8
37 Other 1,382.0 1,485.6
38 Consumer 502.9 527.6
39 Credit cards and related plans n.a. 204.4
40 Other n.a. 323.2
41 Security(3) 77.7 71.2
42 Other loans and leases 320.0 341.8
43 Interbank loans 193.7 215.1
44 Cash assets(4) 242.3 215.6
45 Other assets(5) 322.4 253.8
46 Total assets(6) 4,994.6(r) 5,239.7
Liabilities
47 Deposits 3,126.8 3,337.5
48 Transaction 629.9 590.8
49 Nontransaction 2,496.9 2,746.7
50 Large time 485.7 543.4
51 Other 2,011.2 2,203.3
52 Borrowings 970.1 1,001.8
53 From banks in the U.S. 350.3 368.0
54 From others 619.7 633.8
55 Net due to related foreign offices 216.1 243.8
56 Other liabilities 224.7 239.6
57 Total liabilities 4,537.7 4,822.7
58 Residual (assets less liabilities)(7) 456.9(r) 416.9
Monthly averages
Account 2000(r)
Sept. Oct.
Seasonally adjusted
Assets
1 Bank credit 4,577.1 4,567.4
2 Securities in bank credit 1,122.1 1,115.3
3 U.S. government securities 731.2 724.0
4 Other securities 390.9 391.3
5 Loans and leases in bank credit(2) 3,455.0 3,452.1
6 Commercial and industrial 877.2 879.0
7 Real estate 1,616.5 1,617.5
8 Revolving home equity 122.4 125.3
9 Other 1,494.1 1,492.2
10 Consumer 532.0 532.2
11 Security(3) 84.6 75.0
12 Other loans and leases 344.6 348.3
13 Interbank loans 216.0 221.1
14 Cash assets(4) 223.6 224.4
15 Other assets(5) 356.1 376.5
16 Total assets(6) 5,310.6 5,327.7
Liabilities
17 Deposits 3,383.1 3,401.7
18 Transaction 599.9 602.0
19 Nontransaction 2,783.2 2,799.7
20 Large time 544.8 545.3
21 Other 2,238.4 2,254.4
22 Borrowings 1,005.9 992.0
23 From banks in the U.S. 354.3 350.7
24 From others 651.6 641.3
25 Net due to related foreign offices 244.9 235.3
26 Other liabilities 255.7 269.3
27 Total liabilities 4,889.5 4,898.3
28 Residual (assets less liabilities)(7) 421.1 429.3
Not seasonally
adjusted
Assets
29 Bank credit 4,564.6 4,572.1
30 Securities in bank credit 1,116.7 1,112.2
31 U.S. government securities 725.2 719.3
32 Other securities 391.4 392.9
33 Loans and leases in bank credit(2) 3,447.9 3,459.9
34 Commercial and industrial 873.2 878.4
35 Real estate 1,617.2 1,622.9
36 Revolving home equity 123.2 125.9
37 Other 1,494.0 1,497.0
38 Consumer 532.8 529.9
39 Credit cards and related plans 208.1 206.9
40 Other 324.6 323.1
41 Security(3) 77.9 79.4
42 Other loans and leases 346.9 349.2
43 Interbank loans 209.5 214.9
44 Cash assets(4) 220.1 224.5
45 Other assets(5) 355.2 370.1
46 Total assets(6) 5,287.1 5,319.9
Liabilities
47 Deposits 3,373.3 3,399.2
48 Transaction 593.1 593.8
49 Nontransaction 2,780.2 2,805.4
50 Large time 540.3 546.8
51 Other 2,239.9 2,258.7
52 Borrowings 1,001.5 993.9
53 From banks in the U.S. 353.9 349.8
54 From others 647.6 644.1
55 Net due to related foreign offices 240.6 236.3
56 Other liabilities 255.4 268.9
57 Total liabilities 4,870.8 4,898.2
58 Residual (assets less liabilities)(7) 416.3 421.7
Monthly averages
Account 2000(r)
Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 4,585.1 4,625.0
2 Securities in bank credit 1,116.5 1,131.5
3 U.S. government securities 717.6 718.4
4 Other securities 398.8 413.1
5 Loans and leases in bank credit(2) 3,468.6 3,493.6
6 Commercial and industrial 880.2 885.9
7 Real estate 1,628.4 1,635.0
8 Revolving home equity 127.0 128.5
9 Other 1,501.4 1,506.5
10 Consumer 535.3 536.7
11 Security(3) 75.3 80.4
12 Other loans and leases 349.4 355.5
13 Interbank loans 220.5 226.0
14 Cash assets(4) 215.5 225.8
15 Other assets(5) 367.6 371.5
16 Total assets(6) 5,326.7 5,385.1
Liabilities
17 Deposits 3,391.0 3,464.9
18 Transaction 587.2 586.5
19 Nontransaction 2,803.8 2,878.4
20 Large time 543.9 559.2
21 Other 2,259.8 2,319.2
22 Borrowings 984.9 998.6
23 From banks in the U.S. 345.8 368.3
24 From others 639.2 630.3
25 Net due to related foreign offices 235.4 226.3
26 Other liabilities 275.3 275.8
27 Total liabilities 4,886.6 4,965.6
28 Residual (assets less liabilities)(7) 440.0 419.5
Not seasonally
adjusted
Assets
29 Bank credit 4,601.8 4,647.6
30 Securities in bank credit 1,120.6 1,137.1
31 U.S. government securities 7,188.0 719.0
32 Other securities 401.8 418.2
33 Loans and leases in bank credit(2) 3,481.2 3,510.5
34 Commercial and industrial 881.0 884.5
35 Real estate 1,636.3 1,640.3
36 Revolving home equity 127.5 128.9
37 Other 1,508.8 1,511.4
38 Consumer 5,343.0 542.6
39 Credit cards and related plans 2,103.0 219.4
40 Other 324.0 323.2
41 Security(3) 78.4 84.2
42 Other loans and leases 351.2 358.9
43 Interbank loans 225.4 233.3
44 Cash assets(4) 221.0 241.3
45 Other assets(5) 364.5 3,692.0
46 Total assets(6) 5,350.6 5,428.2
Liabilities
47 Deposits 3,417.2 3,497.0
48 Transaction 594.7 616.9
49 Nontransaction 2,822.5 2,880.1
50 Large time 551.2 566.1
51 Other 2,271.3 2,314.0
52 Borrowings 994.0 1,009.4
53 From banks in the U.S. 349.3 374.1
54 From others 644.8 635.4
55 Net due to related foreign offices 239.0 227.7
56 Other liabilities 275.3 276.0
57 Total liabilities 4,925.5 5,010.2
58 Residual (assets less liabilities)(7) 425.1 418.0
Monthly averages
Account 2001
Jan.(r) Feb.
Assets
1 Bank credit 4,649.9 4,676.8
2 Securities in bank credit 1,149.7 1,152.1
3 U.S. government securities 720.2 710.8
4 Other securities 429.4 441.3
5 Loans and leases in bank credit(2) 3,500.2 3,524.7
6 Commercial and industrial 893.8 899.0
7 Real estate 1,634.0 1,647.3
8 Revolving home equity 129.5 131.0
9 Other 1,504.4 1,516.3
10 Consumer 539.0 539.9
11 Security(3) 73.9 76.3
12 Other loans and leases 359.5 362.3
13 Interbank loans 241.0 236.0
14 Cash assets(4) 230.4 219.9
15 Other assets(5) 385.0 385.0
16 Total assets(6) 5,442.3 5,453.4
Liabilities
17 Deposits 3,500.1 3,521.1
18 Transaction 596.3 592.9
19 Nontransaction 2,903.8 2,928.2
20 Large time 563.1 564.2
21 Other 2,340.6 2,364.0
22 Borrowings 1,025.5 1,030.2
23 From banks in the U.S. 376.4 378.6
24 From others 649.1 651.6
25 Net due to related foreign offices 218.3 206.1
26 Other liabilities 290.0 271.9
27 Total liabilities 5,033.8 5,029.3
28 Residual (assets less liabilities)(7) 408.5 424.1
Not seasonally
adjusted
Assets
29 Bank credit 4,664.5 4,672.8
30 Securities in bank credit 1,154.0 1,154.7
31 U.S. government securities 721.3 714.8
32 Other securities 432.7 440.0
33 Loans and leases in bank credit(2) 3,510.5 3,518.1
34 Commercial and industrial 889.6 896.5
35 Real estate 1,637.9 1,643.4
36 Revolving home equity 129.8 130.6
37 Other 1,508.0 1,512.7
38 Consumer 545.1 541.1
39 Credit cards and related plans 219.8 214.8
40 Other 325.4 326.3
41 Security(3) 77.7 78.5
42 Other loans and leases 360.2 358.7
43 Interbank loans 242.0 237.9
44 Cash assets(4) 242.1 221.4
45 Other assets(5) 381.8 385.5
46 Total assets(6) 5,466.9 5,453.2
Liabilities
47 Deposits 3,504.0 3,512.3
48 Transaction 606.6 586.4
49 Nontransaction 2,897.4 2,925.9
50 Large time 569.3 570.8
51 Other 2,328.1 2,355.1
52 Borrowings 1,043.0 1,032.5
53 From banks in the U.S. 379.4 378.3
54 From others 663.6 654.2
55 Net due to related foreign offices 218.7 217.6
56 Other liabilities 289.6 272.4
57 Total liabilities 5,055.4 5,034.7
58 Residual (assets less liabilities)(7) 411.5 418.6
Wednesday figures
Account 2001
Feb. 7 Feb. 14
Seasonally adjusted
Assets
1 Bank credit 4,662.8 4,668.6
2 Securities in bank credit 1,151.4 1,154.9
3 U.S. government securities 713.7 716.6
4 Other securities 437.7 438.4
5 Loans and leases in bank credit(2) 3,511.4 3,513.7
6 Commercial and industrial 897.7 897.4
7 Real estate 1,641.3 1,642.5
8 Revolving home equity 130.4 130.7
9 Other 1,510.9 1,511.8
10 Consumer 538.7 540.8
11 Security(3) 72.3 73.4
12 Other loans and leases 361.4 359.5
13 Interbank loans 239.9 229.8
14 Cash assets(4) 221.0 207.4
15 Other assets(5) 376.5 377.6
16 Total assets(6) 5,436.0 5,419.1
Liabilities
17 Deposits 3,498.4 3,506.1
18 Transaction 567.5 578.8
19 Nontransaction 2,930.8 2,927.3
20 Large time 565.5 566.1
21 Other 2,365.3 2,361.2
22 Borrowings 1,038.1 1,032.9
23 From banks in the U.S. 384.2 376.5
24 From others 653.9 656.4
25 Net due to related foreign offices 210.0 189.8
26 Other liabilities 273.3 271.8
27 Total liabilities 5,019.8 5,000.7
28 Residual (assets less liabilities)(7) 416.2 418.4
Not seasonally
adjusted
Assets
29 Bank credit 4,664.9 4,668.2
30 Securities in bank credit 1,155.7 1,157.5
31 U.S. government securities 717.7 720.1
32 Other securities 438.0 437.4
33 Loans and leases in bank credit(2) 3,509.1 3,510.7
34 Commercial and industrial 894.4 894.4
35 Real estate 1,641.9 1,641.5
36 Revolving home equity 130.3 130.5
37 Other 1,511.7 1,510.9
38 Consumer 541.0 542.3
39 Credit cards and related plans 213.4 215.4
40 Other 327.6 327.0
41 Security(3) 74.2 76.2
42 Other loans and leases 357.6 356.3
43 Interbank loans 242.1 233.9
44 Cash assets(4) 209.3 208.4
45 Other assets(5) 377.2 377.6
46 Total assets(6) 5,429.2 5,423.9
Liabilities
47 Deposits 3,487.9 3,503.0
48 Transaction 553.3 575.1
49 Nontransaction 2,934.6 2,927.8
50 Large time 573.1 573.8
51 Other 2,361.6 2,354.1
52 Borrowings 1,040.1 1,037.0
53 From banks in the U.S. 382.3 377.2
54 From others 657.7 659.8
55 Net due to related foreign offices 214.9 196.7
56 Other liabilities 273.9 272.2
57 Total liabilities 5,016.7 5,008.9
58 Residual (assets less liabilities)(7) 412.6 415.0
Wednesday figures
Account 2001
Feb. 21 Feb. 28
Seasonally adjusted
Assets
1 Bank credit 4,674.0 4,701.7
2 Securities in bank credit 1,149.9 1,152.0
3 U.S. government securities 708.5 704.3
4 Other securities 441.4 447.8
5 Loans and leases in bank credit(2) 3,524.2 3,549.7
6 Commercial and industrial 901.4 899.4
7 Real estate 1,647.7 1,657.8
8 Revolving home equity 131.2 131.7
9 Other 1,516.5 1,526.0
10 Consumer 542.3 537.8
11 Security(3) 72.2 87.2
12 Other loans and leases 360.6 367.5
13 Interbank loans 232.5 241.7
14 Cash assets(4) 227.4 224.0
15 Other assets(5) 399.9 386.1
16 Total assets(6) 5,469.3 5,489.2
Liabilities
17 Deposits 3,524.7 3,555.2
18 Transaction 606.8 618.4
19 Nontransaction 2,917.9 2,936.8
20 Large time 561.2 563.9
21 Other 2,356.6 2,372.9
22 Borrowings 1,018.7 1,030.9
23 From banks in the U.S. 373.3 380.3
24 From others 645.5 650.6
25 Net due to related foreign offices 211.0 213.7
26 Other liabilities 272.9 269.5
27 Total liabilities 5,027.3 5,069.3
28 Residual (assets less liabilities)(7) 442.0 419.9
Not seasonally
adjusted
29 Bank credit 4,662.0 4,696.0
30 Securities in bank credit 1,151.0 1,154.5
31 U.S. government securities 711.7 709.5
32 Other securities 439.3 445.1
33 Loans and leases in bank credit2 3,510.9 3,541.5
34 Commercial and industrial 898.0 809.2
35 Real estate 1,639.6 1,650.5
36 Revolving home equity 130.6 131.1
37 Other 1,509.0 1,519.4
38 Consumer 543.0 537.9
39 Credit cards and related plans 217.6 212.8
40 Other 325.4 325.0
41 Security(3) 73.7 89.7
42 Other loans and leases 356.6 364.2
43 Interbank loans 231.4 244.1
44 Cash assets(4) 241.7 226.1
45 Other assets(5) 398.0 389.1
46 Total assets(6) 5,468.7 5,491.1
Liabilities
47 Deposits 3,513.0 3,545.3
48 Transaction 603.7 613.4
49 Nontransaction 2,909.3 2,931.9
50 Large time 567.1 569.3
51 Other 2,342.2 2,362.7
52 Borrowings 1,023.1 1,029.7
53 From banks in the U.S. 374.1 379.5
54 From others 649.0 650.3
55 Net due to related foreign offices 229.7 228.9
56 Other liabilities 273.4 270.1
57 Total liabilities 5,039.2 5,074.0
58 Residual (assets less liabilities)(7) 429.5 417.1
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2000 2000(r)
Feb.(r) Aug.
Seasonally adjusted
Assets
1 Bank credit 2,424.3 2,544.0
2 Securities in bank credit 562.2 579.2
3 U.S. government securities 363.2 362.7
4 Trading account 21.6 23.8
5 Investment account 341.6 339.0
6 Other securities 199.0 216.5
7 Trading account 85.9 102.5
8 Investment account 113.1 113.9
9 State and local government 24.5 25.9
10 Other 88.6 88.1
11 Loans and leases in bank credit(2) 1,862.1 1,964.8
12 Commercial and industrial 568.1 590.7
13 Bankers acceptances 1.0 .9
14 Other 567.1 589.8
15 Real estate 763.9 824.4
16 Revolving home equity 68.1 79.1
17 Other 695.7 745.3
18 Consumer 225.3 233.6
19 Security(3) 69.9 69.5
20 Federal funds sold to and
repurchase agreements
with broker-dealers 47.1 50.7
21 Other 22.8 18.8
22 State and local government 12.4 12.5
23 Agricultural 9.5 9.6
24 Federal funds sold to and
repurchase agreements
with others 13.4 14.1
25 All other loans 81.7 84.3
26 Lease-financing receivables 118.0 126.2
27 Interbank loans 132.7 141.1
28 Federal funds sold to and
repurchase agreements with
commercial banks 62.0 66.9
29 Other 70.8 74.1
30 Cash assets(4) 150.6 145.3
31 Other assets(5) 223.9 246.1
32 Total assets(6) 2,896.7 3,040.9
Liabilities
33 Deposits 1,625.3 1,647.8
34 Transaction 316.5 306.1
35 Nontransaction 1,308.8 1,341.7
36 Large time 234.0 266.9
37 Other 1,074.8 1,074.8
38 Borrowings 633.7 690.9
39 From banks in the U.S. 193.3 208.0
40 From others 440.4 483.0
41 Net due to related foreign offices 203.9 222.7
42 Other liabilities 163.7 193.7
43 Total liabilities 2,626.6 2,755.1
44 Residual (assets less liabilities)(7) 270.0 285.8
Not seasonally
adjusted
Assets
45 Bank credit 2,435.5 2,521.6
46 Securities in bank credit 568.3 572.7
47 U.S. government securities 369.5 356.1
48 Trading account 22.6 23.1
49 Investment account 346.9 333.0
50 Mortgage-backed securities 223.0 208.4
51 Other 123.8 124.6
52 One year or less 28.2 32.5
53 One to five years 56.5 54.2
54 More than five years 39.2 37.9
55 Other securities 198.8 216.6
56 Trading account 85.9 102.5
57 Investment account 112.9 114.1
58 State and local government 24.7 25.6
59 Other 88.2 88.5
60 Loans and leases in bank credit(2) 1,867.3 1,948.9
61 Commercial and industrial 567.4 585.0
62 Bankers acceptances 1.0 0.9
63 Other 566.5 584.0
64 Real estate 765.2 821.9
65 Revolving home equity 68.0 79.3
66 Other 422.9 457.8
67 Commercial 274.2 284.7
68 Consumer 228.3 231.7
69 Credit cards and related plans n.a. 74.3
70 Other n.a. 157.4
71 Security(3) 71.6 64.2
72 Federal funds sold to and
repurchase agreements
with broker-dealers 49.7 45.7
73 Other 22.0 18.5
74 State and local government 12.3 12.7
75 Agricultural 9.2 9.7
76 Federal funds sold to and
repurchase agreements
with others 13.4 14.1
77 All other loans 79.9 84.5
78 Lease-financing receivables 119.9 125.2
79 Interbank loans 133.0 135.1
80 Federal funds sold to and
repurchase agreements
with commercial banks 61.6 63.1
81 Other 71.4 72.0
82 Cash assets(4) 152.2 137.3
83 Other assets(5) 225.1 243.4
84 Total assets(6) 2,911.2 3,001.7
Liabilities
85 Deposits 1,625.6 1,632.1
86 Transaction 313.0 295.0
87 Nontransaction 1,312.6 1,337.1
88 Large time 240.6 261.6
89 Other 1,072.1 1,075.6
90 Borrowings 642.2 660.5
91 From banks in the U.S. 197.5 200.7
92 From nonbanks in the U.S. 444.7 459.8
93 Net due to related foreign offices 216.1 220.1
94 Other liabilities 163.7 193.7
95 Total liabilities 2,647.7 2,706.4
96 Residual (assets less liabilities)(7) 263.5 295.3
Monthly averages
Account 2000(r)
Sept. Oct.
Seasonally adjusted
Assets
1 Bank credit 2,566.9 2,543.8
2 Securities in bank credit 587.2 577.4
3 U.S. government securities 360.8 354.7
4 Trading account 23.3 21.2
5 Investment account 337.5 333.5
6 Other securities 226.4 222.7
7 Trading account 114.5 112.7
8 Investment account 112.0 110.1
9 State and local government 25.8 26.1
10 Other 86.2 83.9
11 Loans and leases in bank credit(2) 1,979.6 1,966.4
12 Commercial and industrial 591.2 591.0
13 Bankers acceptances .9 .8
14 Other 590.3 590.2
15 Real estate 825.4 817.4
16 Revolving home equity 78.0 80.0
17 Other 747.4 737.4
18 Consumer 234.0 234.7
19 Security(3) 77.7 67.9
20 Federal funds sold to and
repurchase agreements
with broker-dealers 58.2 49.1
21 Other 19.5 18.7
22 State and local government 12.6 12.6
23 Agricultural 9.4 9.4
24 Federal funds sold to and
repurchase agreements
with others 16.2 16.9
25 All other loans 86.3 87.6
26 Lease-financing receivables 126.8 128.7
27 Interbank loans 131.5 137.0
28 Federal funds sold to and
repurchase agreements with
commercial banks 57.2 58.3
29 Other 74.3 78.7
30 Cash assets(4) 142.2 142.8
31 Other assets(5) 248.2 263.6
32 Total assets(6) 3,053.1 3,051.8
Liabilities
33 Deposits 1,647.5 1,650.7
34 Transaction 302.2 304.5
35 Nontransaction 1,345.3 1,346.2
36 Large time 258.9 255.8
37 Other 1,086.4 1,090.4
38 Borrowings 673.0 665.9
39 From banks in the U.S. 192.6 196.9
40 From others 480.4 469.0
41 Net due to related foreign offices 224.4 211.9
42 Other liabilities 208.1 216.5
43 Total liabilities 2,752.9 2,744.9
44 Residual (assets less liabilities)(7) 300.2 306.8
Not seasonally
adjusted
Assets
45 Bank credit 2,550.0 2,546.5
46 Securities in bank credit 583.2 576.9
47 U.S. government securities 355.8 352.5
48 Trading account 22.6 21.1
49 Investment account 333.2 331.5
50 Mortgage-backed securities 208.8 210.9
51 Other 124.5 120.6
52 One year or less 33.3 32.0
53 One to five years 53.7 51.6
54 More than five years 37.5 37.0
55 Other securities 227.5 224.4
56 Trading account 114.5 112.7
57 Investment account 113.0 111.7
58 State and local government 25.7 26.1
59 Other 87.3 85.6
60 Loans and leases in bank credit(2) 1,966.7 1,969.6
61 Commercial and industrial 588.8 590.8
62 Bankers acceptances 0.9 .8
63 Other 588.0 589.9
64 Real estate 823.0 819.4
65 Revolving home equity 78.3 80.2
66 Other 460.2 454.2
67 Commercial 284.5 285.0
68 Consumer 233.0 232.7
69 Credit cards and related plans 75.4 76.5
70 Other 157.6 156.2
71 Security(3) 70.9 72.3
72 Federal funds sold to and
repurchase agreements
with broker-dealers 51.8 53.8
73 Other 19.2 18.5
74 State and local government 12.8 12.8
75 Agricultural 9.6 9.6
76 Federal funds sold to and
repurchase agreements
with others 16.2 16.9
77 All other loans 87.1 87.6
78 Lease-financing receivables 125.2 127.5
79 Interbank loans 128.0 131.1
80 Federal funds sold to and
repurchase agreements
with commercial banks 55.5 56.5
81 Other 72.5 74.6
82 Cash assets(4) 139.1 143.1
83 Other assets(5) 247.8 257.2
84 Total assets(6) 3,029.0 3,042.7
Liabilities
85 Deposits 1,639.8 1,645.3
86 Transaction 297.6 298.6
87 Nontransaction 1,342.2 1,346.6
88 Large time 254.4 257.2
89 Other 1,087.8 1,089.4
90 Borrowings 662.9 664.8
91 From banks in the U.S. 188.6 193.4
92 From nonbanks in the U.S. 474.2 471.4
93 Net due to related foreign offices 220.0 212.8
94 Other liabilities 208.1 216.5
95 Total liabilities 2,730.7 2,739.4
96 Residual (assets less liabilities)(7) 298.3 303.3
Monthly averages
Account 2000(r)
Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 2,542.5 2,561.2
2 Securities in bank credit 573.4 581.3
3 U.S. government securities 348.1 351.3
4 Trading account 20.5 29.1
5 Investment account 327.6 322.2
6 Other securities 225.2 230.0
7 Trading account 116.0 122.0
8 Investment account 109.3 108.0
9 State and local government 26.3 26.7
10 Other 82.9 81.3
11 Loans and leases in bank credit(2) 1,969.1 1,979.9
12 Commercial and industrial 589.2 594.1
13 Bankers acceptances .9 .9
14 Other 588.4 593.3
15 Real estate 820.2 818.7
16 Revolving home equity 81.2 82.1
17 Other 739.0 736.6
18 Consumer 236.3 235.6
19 Security(3) 68.1 72.8
20 Federal funds sold to and
repurchase agreements
with broker-dealers 50.0 56.1
21 Other 18.1 16.7
22 State and local government 12.6 12.4
23 Agricultural 9.5 9.7
24 Federal funds sold to and
repurchase agreements
with others 19.0 20.9
25 All other loans 85.1 86.6
26 Lease-financing receivables 129.1 129.1
27 Interbank loans 140.8 140.5
28 Federal funds sold to and
repurchase agreements with
commercial banks 61.5 64.1
29 Other 79.3 76.3
30 Cash assets(4) 137.6 144.5
31 Other assets(5) 259.8 257.5
32 Total assets(6) 3,045.2 3,067.2
Liabilities
33 Deposits 1,634.6 1,665.3
34 Transaction 294.3 295.3
35 Nontransaction 1,340.2 1,370.0
36 Large time 251.6 261.7
37 Other 1,088.7 1,108.3
38 Borrowings 662.9 671.6
39 From banks in the U.S. 194.3 212.8
40 From others 468.7 458.8
41 Net due to related foreign offices 211.8 205.4
42 Other liabilities 221.1 221.6
43 Total liabilities 2,730.4 2,763.9
44 Residual (assets less liabilities)(7) 314.8 303.3
Not seasonally
adjusted
Assets
45 Bank credit 2,558.8 2.582.0
46 Securities in bank credit 579.1 586.9
47 U.S. government securities 351.1 352.4
48 Trading account 21.8 28.9
49 Investment account 329.4 323.5
50 Mortgage-backed securities 211.2 213.1
51 Other 118.2 110.4
52 One year or less 32.7 31.3
53 One to five years 49.9 45.0
54 More than five years 35.6 34.1
55 Other securities 228.0 234.5
56 Trading account 116.0 122.0
57 Investment account 112.0 112.5
58 State and local government 26.6 26.9
59 Other 85.4 85.6
60 Loans and leases in bank credit(2) 1,979.7 1,995.1
61 Commercial and industrial 591.5 593.2
62 Bankers acceptances .9 .9
63 Other 590.6 592.3
64 Real estate 825.4 824.7
65 Revolving home equity 81.3 82.3
66 Other 457.3 455.7
67 Commercial 286.8 286.7
68 Consumer 234.7 238.2
69 Credit cards and related plans 78.0 82.3
70 Other 156.7 155.9
71 Security(3) 71.2 76.6
72 Federal funds sold to and
repurchase agreements
with broker-dealers 53.6 59.7
73 Other 17.6 16.8
74 State and local government 12.7 12.5
75 Agricultural 9.6 9.7
76 Federal funds sold to and
repurchase agreements
with others 19.0 20.9
77 All other loans 87.7 90.6
78 Lease-financing receivables 127.8 128.7
79 Interbank loans 139.2 141.2
80 Federal funds sold to and
repurchase agreements
with commercial banks 62.2 65.2
81 Other 77.0 76.0
82 Cash assets(4) 139.9 155.3
83 Other assets(5) 255.3 255.7
84 Total assets(6) 3,057.4 3,097.6
Liabilities
85 Deposits 1,647.8 1,688.3
86 Transaction 298.1 314.4
87 Nontransaction 1,349.7 1,373.9
88 Large time 258.8 268.6
89 Other 1,090.9 1,105.4
90 Borrowings 669.9 678.1
91 From banks in the U.S. 196.8 215.8
92 From nonbanks in the U.S. 473.2 462.4
93 Net due to related foreign offices 215.3 206.8
94 Other liabilities 221.1 221.6
95 Total liabilities 2,754.2 2,794.9
96 Residual (assets less liabilities)(7) 303.2 302.7
Monthly averages
Account 2001
Jan.(r) Feb.
Seasonally adjusted
Assets
1 Bank credit 2,568.7 2,584.8
2 Securities in bank credit 592.0 592.4
3 U.S. government securities 353.0 346.1
4 Trading account 33.3 35.9
5 Investment account 319.7 310.2
6 Other securities 239.0 246.3
7 Trading account 127.6 129.3
8 Investment account 111.4 117.0
9 State and local government 27.2 27.4
10 Other 84.2 89.6
11 Loans and leases in bank credit(2) 1,976.7 1,992.4
12 Commercial and industrial 598.8 602.1
13 Bankers acceptances .8 .8
14 Other 598.0 601.3
15 Real estate 815.1 821.9
16 Revolving home equity 82.4 83.4
17 Other 732.7 738.5
18 Consumer 234.7 238.1
19 Security(3) 66.5 68.4
20 Federal funds sold to and
repurchase agreements
with broker-dealers 49.0 51.0
21 Other 17.5 17.4
22 State and local government 12.6 12.7
23 Agricultural 9.8 10.1
24 Federal funds sold to and
repurchase agreements
with others 25.7 26.1
25 All other loans 85.1 84.9
26 Lease-financing receivables 128.3 128.3
27 Interbank loans 153.6 139.1
28 Federal funds sold to and
repurchase agreements with
commercial banks 77.3 70.1
29 Other 76.4 69.0
30 Cash assets(4) 146.6 137.0
31 Other assets(5) 264.5 261.7
32 Total assets(6) 3,096.1 3,084.9
Liabilities
33 Deposits 1,673.6 1,678.1
34 Transaction 300.0 297.6
35 Nontransaction 1,373.6 1,380.5
36 Large time 263.7 258.8
37 Other 1,109.8 1,121.6
38 Borrowings 683.6 687.1
39 From banks in the U.S. 215.9 215.6
40 From others 467.7 471.5
41 Net due to related foreign offices 201.4 189.4
42 Other liabilities 236.0 217.8
43 Total liabilities 2,794.6 2,772.4
44 Residual (assets less liabilities)(7) 301.5 312.5
Not seasonally
adjusted
Assets
45 Bank credit 2,590.3 2,596.7
46 Securities in bank credit 597.7 598.7
47 U.S. government securities 355.8 352.7
48 Trading account 34.5 37.9
49 Investment account 321.3 314.8
50 Mortgage-backed securities 219.5 215.4
51 Other 101.9 99.4
52 One year or less 31.4 33.5
53 One to five years 38.4 37.0
54 More than five years 32.0 28.9
55 Other securities 241.9 246.0
56 Trading account 127.6 129.3
57 Investment account 114.3 116.7
58 State and local government 27.5 27.6
59 Other 86.8 89.1
60 Loans and leases in bank credit(2) 1,992.6 1,998.0
61 Commercial and industrial 595.9 601.3
62 Bankers acceptances .8 .8
63 Other 595.1 600.5
64 Real estate 821.6 823.5
65 Revolving home equity 82.8 83.3
66 Other 454.2 454.2
67 Commercial 284.6 286.0
68 Consumer 240.1 240.7
69 Credit cards and related plans 83.3 83.0
70 Other 156.8 157.7
71 Security(3) 70.3 70.6
72 Federal funds sold to and
repurchase agreements
with broker-dealers 53.4 53.8
73 Other 16.9 16.8
74 State and local government 12.6 12.6
75 Agricultural 9.8 9.8
76 Federal funds sold to and
repurchase agreements
with others 25.7 26.1
77 All other loans 86.2 83.1
78 Lease-financing receivables 130.5 130.2
79 Interbank loans 154.7 139.6
80 Federal funds sold to and
repurchase agreements
with commercial banks 79.2 69.9
81 Other 75.6 69.7
82 Cash assets(4) 156.7 139.0
83 Other assets(5) 264.2 263.8
84 Total assets(6) 3,128.9 3,101.3
Liabilities
85 Deposits 1,684.5 1,679.5
86 Transaction 308.7 294.7
87 Nontransaction 1,375.9 1,384.8
88 Large time 269.9 265.4
89 Other 1,105.9 1,119.4
90 Borrowings 703.7 695.9
91 From banks in the U.S. 220.1 219.9
92 From nonbanks in the U.S. 483.6 476.0
93 Net due to related foreign offices 201.9 200.8
94 Other liabilities 236.0 217.8
95 Total liabilities 2,826.2 2,794.0
96 Residual (assets less liabilities)(7) 302.8 307.2
Wednesday figures
Account 2001
Feb.7 Feb. 14
Seasonally adjusted
Assets
1 Bank credit 2,575.6 2,575.1
2 Securities in bank credit 593.1 593.5
3 U.S. government securities 349.0 348.8
4 Trading account 35.0 35.1
5 Investment account 314.0 313.7
6 Other securities 244.1 244.6
7 Trading account 128.5 127.6
8 Investment account 115.6 117.0
9 State and local government 27.1 27.3
10 Other 88.5 89.8
11 Loans and leases in bank credit(2) 1,982.4 1,981.7
12 Commercial and industrial 601.2 600.6
13 Bankers acceptances .8 .8
14 Other 600.4 599.8
15 Real estate 818.6 817.3
16 Revolving home equity 82.9 83.1
17 Other 735.6 734.2
18 Consumer 237.2 238.1
19 Security(3) 64.4 65.8
20 Federal funds sold to and
repurchase agreements
with broker-dealers 46.4 48.3
21 Other 18.0 17.5
22 State and local government 12.7 12.7
23 Agricultural 10.0 10.0
24 Federal funds sold to and
repurchase agreements
with others 26.1 25.9
25 All other loans 83.9 83.1
26 Lease-financing receivables 128.4 128.2
27 Interbank loans 146.5 138.0
28 Federal funds sold to and
repurchase agreements with
commercial banks 71.5 69.7
29 Other 74.9 68.3
30 Cash assets(4) 137.6 128.1
31 Other assets(5) 258.7 260.5
32 Total assets(6) 3,080.6 3,064.0
Liabilities
33 Deposits 1,662.8 1,670.8
34 Transaction 281.0 289.7
35 Nontransaction 1,381.8 1,381.1
36 Large time 259.5 259.7
37 Other 1,199.4 1,121.4
38 Borrowings 693.4 690.8
39 From banks in the U.S. 221.0 215.3
40 From others 472.3 475.5
41 Net due to related foreign offices 193.5 174.8
42 Other liabilities 220.5 218.5
43 Total liabilities 2,770.2 2,754.9
44 Residual (assets less liabilities)(7) 310.4 309.1
Not seasonally
adjust
Assets
45 Bank credit 2,592.0 2,590.6
46 Securities in bank credit 600.5 599.8
47 U.S. government securities 355.5 355.2
48 Trading account 36.6 37.1
49 Investment account 318.9 318.1
50 Mortgage-backed securities 218.6 218.1
51 Other 100.3 100.0
52 One year or less 33.0 33.7
53 One to five years 36.6 37.7
54 More than five years 30.7 28.6
55 Other securities 245.1 244.6
56 Trading account 128.5 127.6
57 Investment account 116.5 116.9
58 State and local government 27.3 27.5
59 Other 89.2 89.5
60 Loans and leases in bank credit(2) 1,991.4 1,990.8
61 Commercial and industrial 599.7 599.5
62 Bankers acceptances .8 .8
63 Other 598.9 598.7
64 Real estate 824.1 821.7
65 Revolving home equity 83.1 83.2
66 Other 455.5 452.7
67 Commercial 285.5 285.7
68 Consumer 240.7 241.0
69 Credit cards and related plans 81.7 83.1
70 Other 158.9 157.9
71 Security(3) 66.4 68.6
72 Federal funds sold to and
repurchase agreements
with broker-dealers 49.7 52.0
73 Other 16.6 16.6
74 State and local government 12.6 12.6
75 Agricultural 9.8 9.8
76 Federal funds sold to and
repurchase agreements
with others 26.1 25.9
77 All other loans 81.9 81.7
78 Lease-financing receivables 130.4 130.1
79 Interbank loans 145.3 139.8
80 Federal funds sold to and
repurchase agreements
with commercial banks 70.9 70.6
81 Other 74.4 69.3
82 Cash assets(4) 130.0 130.1
83 Other assets(5) 260.9 262.5
84 Total assets(6) 3,090.5 3,085.3
Liabilities
85 Deposits 1,661.3 1,677.3
86 Transaction 271.3 289.6
87 Nontransaction 1,390.0 1,387.7
88 Large time 267.0 267.3
89 Other 1,123.0 1,120.4
90 Borrowings 704.4 700.6
91 From banks in the U.S. 225.0 220.2
92 From nonbanks in the U.S. 479.4 480.4
93 Net due to related foreign offices 198.3 181.7
94 Other liabilities 220.5 218.5
95 Total liabilities 2,784.5 2,778.0
96 Residual (assets less liabilities)(7) 307.3 306.0
Wednesday figures
Account 2001
Feb. 21 Feb. 28
Seasonally adjusted
Assets
1 Bank credit 2,578.3 2,610.3
2 Securities in bank credit 589.6 593.3
3 U.S. government securities 343.8 342.6
4 Trading account 35.4 38.0
5 Investment account 308.4 304.6
6 Other securities 245.8 250.7
7 Trading account 128.5 132.7
8 Investment account 117.3 118.0
9 State and local government 27.7 27.6
10 Other 89.6 90.4
11 Loans and leases in bank credit(2) 1,988.7 2,017.0
12 Commercial and industrial 604.2 602.3
13 Bankers acceptances .8 .8
14 Other 603.4 601.5
15 Real estate 821.1 830.5
16 Revolving home equity 83.5 84.0
17 Other 737.7 746.5
18 Consumer 238.7 238.2
19 Security(3) 64.4 79.0
20 Federal funds sold to and
repurchase agreements
with broker-dealers 47.6 61.7
21 Other 16.8 17.3
22 State and local government 12.8 12.8
23 Agricultural 10.1 10.1
24 Federal funds sold to and
repurchase agreements
with others 25.1 27.4
25 All other loans 84.1 88.3
26 Lease-financing receivables 128.2 128.3
27 Interbank loans 134.4 137.4
28 Federal funds sold to and
repurchase agreements with
commercial banks 68.6 70.5
29 Other 65.8 66.9
30 Cash assets(4) 143.4 138.9
31 Other assets(5) 262.5 265.3
32 Total assets(6) 3,080.7 3,114.3
Liabilities
33 Deposits 1,677.9 1,700.8
34 Transaction 306.8 312.9
35 Nontransaction 1,371.1 1,387.8
36 Large time 256.1 260.1
37 Other 1,115.0 1,127.7
38 Borrowings 676.0 688.2
39 From banks in the U.S. 209.5 216.5
40 From others 466.5 471.7
41 Net due to related foreign offices 190.8 198.6
42 Other liabilities 217.2 215.0
43 Total liabilities 2,761.9 2,802.5
44 Residual (assets less liabilities)(7) 318.8 311.7
Not seasonally
adjusted
Assets
45 Bank credit 2,584.4 2,619.6
46 Securities in bank credit 595.2 599.1
47 U.S. government securities 350.1 349.9
48 Trading account 37.4 40.3
49 Investment account 312.7 309.6
50 Mortgage-backed securities 212.6 212.2
51 Other 100.1 97.4
52 One year or less 34.3 33.1
53 One to five years 37.4 36.3
54 More than five years 28.5 28.0
55 Other securities 245.1 249.3
56 Trading account 128.5 132.7
57 Investment account 116.6 116.6
58 State and local government 27.9 27.8
59 Other 88.7 88.8
60 Loans and leases in bank credit(2) 1,989.2 2,020.5
61 Commercial and industrial 602.6 603.3
62 Bankers acceptances .8 .8
63 Other 601.8 602.5
64 Real estate 819.7 828.5
65 Revolving home equity 83.3 83.6
66 Other 450.3 458.2
67 Commercial 286.1 286.7
68 Consumer 241.1 240.1
69 Credit cards and related plans 84.1 83.1
70 Other 157.0 157.0
71 Security(3) 66.0 81.5
72 Federal funds sold to and
repurchase agreements
with broker-dealers 49.7 63.9
73 Other 16.3 17.6
74 State and local government 12.7 12.7
75 Agricultural 9.8 9.9
76 Federal funds sold to and
repurchase agreements
with others 25.1 27.4
77 All other loans 82.1 86.8
78 Lease-financing receivables 130.1 130.2
79 Interbank loans 134.1 139.0
80 Federal funds sold to and
repurchase agreements
with commercial banks 66.7 71.3
81 Other 67.4 67.7
82 Cash assets(4) 154.8 141.0
83 Other assets(5) 262.4 269.2
84 Total assets(6) 3,098.1 3,131.2
Liabilities
85 Deposits 1,678.2 1,701.3
86 Transaction 306.8 311.0
87 Nontransaction 1,371.4 1,390.3
88 Large time 2,620.0 265.5
89 Other 1,094.0 1,124.8
90 Borrowings 685.2 693.6
91 From banks in the U.S. 214.1 220.3
92 From nonbanks in the U.S. 471.1 473.2
93 Net due to related foreign offices 209.6 213.8
94 Other liabilities 217.2 215.0
95 Total liabilities 2,790.1 2,823.6
96 Residual (assets less liabilities)(7) 308.0 307.6
D. Small domestically chartered commercial banks
Billion of dollars
Monthly averages
Account 2000 2000(r)
Feb.(r) Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 1,872.2 1,992.0 2,010.2
2 Securities in bank credit 515.0 530.6 534.8
3 U.S. government securities 377.0 371.6 370.4
4 Other securities 138.0 159.1 164.5
5 Loans and leases in bank credit(2) 1,357.2 1,461.3 1,475.4
6 Commercial and industrial 260.1 284.1 286.0
7 Real estate 727.4 781.8 791.1
8 Revolving home equity 38.1 41.5 44.4
9 Other 689.3 740.3 746.7
10 Consumer 275.5 295.2 298.0
11 Security(3) 6.1 7.0 7.0
12 Other loans and leases 88.1 93.3 93.3
13 Interbank loans 59.6 84.1 84.5
14 Cash assets(4) 90.7 81.0 81.3
15 Other assets(5) 98.1 108.7 107.8
16 Total assets(6) 2,096.6 2,239.7 2,257.4
Liabilities
17 Deposits 1,509.7 1,710.0 1,735.6
18 Transaction 320.6 300.3 297.7
19 Nontransaction 1,189.1 1,409.8 1,437.9
20 Large time 245.2 281.8 285.9
21 Other 943.9 1,127.9 1,152.0
22 Borrowings 332.2 338.2 332.8
23 From banks in the U.S. 155.4 164.5 161.7
24 From others 176.8 173.7 171.2
25 Net due to related foreign offices 0.0 23.7 20.6
26 Other liabilities 60.6 45.9 47.6
27 Total liabilities 1,902.5 2,117.9 2,136.6
28 Residual (assets less
liabilities)(7) 194.1 121.8 120.8
Not seasonally adjusted
Assets
29 Bank credit 1,859.3 1,995.4 2,014.6
30 Securities in bank credit 511.7 530.2 533.4
31 U.S. government securities 374.4 370.9 369.5
32 Other securities 137.2 159.3 164.0
33 Loans and leases in bank credit(2) 1,347.6 1,465.2 1,481.2
34 Commercial and industrial 259.0 282.2 284.3
35 Real estate 722.7 784.5 794.2
36 Revolving home equity 37.9 41.4 44.9
37 Other 684.9 743.1 749.3
38 Consumer 274.5 295.9 299.8
39 Credit cards and related plans n.a. 130.2 132.7
40 Other n.a. 165.7 167.1
41 Security(3) 6.1 7.0 7.0
42 Other loans and leases 85.3 95.6 95.9
43 Interbank loans 60.6 80.0 81.6
44 Cash assets(4) 90.1 78.3 81.0
45 Other assets(5) 97.2 110.4 107.4
46 Total assets(6) 2,083.3 2,237.9 2,258.1
Liabilities
47 Deposits 1,501.2 1,705.4 1,733.6
48 Transaction 316.9 295.8 295.5
49 Nontransaction 1,184.3 1,409.6 1,438.1
50 Large time 245.2 281.8 285.9
51 Other 939.1 1,127.7 1,152.1
52 Borrowings 327.8 341.3 338.7
53 From banks in the U.S. 152.8 167.4 165.3
54 From others 175.0 174.0 173.4
55 Net due to related foreign offices 0.0 23.7 20.6
56 Other liabilities 61.0 45.9 47.4
57 Total Liabilities 1,890.0 2,116.3 2,140.1
58 Residual (assets less
liabilities)(7) 193.3 121.6 118.0
Monthly averages
Account 2000(r)
Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 2,023.6 2,042.5 2,063.8
2 Securities in bank credit 537.9 543.1 550.2
3 U.S. government securities 369.3 369.5 367.1
4 Other securities 168.6 173.6 183.1
5 Loans and leases in bank credit(2) 1,485.7 1,499.5 1,513.6
6 Commercial and industrial 288.0 291.0 291.8
7 Real estate 800.1 808.1 816.3
8 Revolving home equity 45.3 45.8 46.3
9 Other 754.7 762.3 769.9
10 Consumer 297.5 299.0 301.2
11 Security(3) 7.1 7.2 7.6
12 Other loans and leases 93.0 94.1 96.8
13 Interbank loans 84.1 79.7 85.6
14 Cash assets(4) 81.6 77.9 81.3
15 Other assets(5) 112.9 107.8 114.0
16 Total assets(6) 2,275.9 2,281.5 2,318.0
Liabilities
17 Deposits 1,751.0 1,756.4 1,799.6
18 Transaction 297.5 292.9 291.2
19 Nontransaction 1,453.6 1,463.5 1,508.5
20 Large time 289.5 292.4 297.6
21 Other 1,164.0 1,171.2 1,210.9
22 Borrowings 326.2 322.0 327.1
23 From banks in the U.S. 153.8 151.5 155.6
24 From others 172.3 170.5 171.5
25 Net due to related foreign offices 23.4 23.7 20.9
26 Other liabilities 52.8 54.1 54.1
27 Total liabilities 2,153.4 2,156.3 2,201.7
28 Residual (assets less
liabilities)(7) 122.5 125.2 116.2
Not seasonally adjusted
Assets
29 Bank credit 2,025.6 2,043.0 2,065.6
30 Securities in bank credit 535.3 541.5 550.2
31 U.S. government securities 366.8 367.7 366.6
32 Other securities 168.5 173.8 183.7
33 Loans and leases in bank credit(2) 1,490.3 1,501.5 1,515.3
34 Commercial and industrial 287.7 289.5 291.3
35 Real estate 803.5 810.8 815.6
36 Revolving home equity 45.7 46.2 46.6
37 Other 757.8 764.7 769.0
38 Consumer 297.2 299.6 304.4
39 Credit cards and related plans 130.4 132.3 137.2
40 Other 166.9 167.3 167.2
41 Security(3) 7.1 7.2 7.6
42 Other loans and leases 94.8 94.4 96.5
43 Interbank loans 83.7 86.2 92.1
44 Cash assets(4) 81.4 81.1 86.0
45 Other assets(5) 112.8 109.3 113.5
46 Total assets(6) 2,277.2 2,293.2 2,330.6
Liabilities
47 Deposits 1,754.0 1,769.4 1,808.8
48 Transaction 295.1 296.6 302.6
49 Nontransaction 1,458.8 1,472.8 1,506.2
50 Large time 289.5 292.4 297.6
51 Other 1,169.3 1,180.4 1,208.6
52 Borrowings 329.1 324.1 331.3
53 From banks in the U.S. 156.4 152.5 158.3
54 From others 172.6 171.6 173.0
55 Net due to related foreign offices 23.4 23.7 20.9
56 Other liabilities 52.4 54.1 54.4
57 Total Liabilities 2,158.9 2,171.3 2,215.4
58 Residual (assets less
liabilities)(7) 118.3 121.9 115.2
Monthly Wednesday
averages figures
Account 2001 2001
Jan.(r) Feb. Feb. 7
Seasonally adjusted
Assets
1 Bank credit 2,081.2 2,092.0 2,087.3
2 Securities in bank credit 557.7 559.7 558.2
3 U.S. government securities 367.2 364.7 364.7
4 Other securities 190.5 195.0 193.6
5 Loans and leases in bank credit(2) 1,523.5 1,532.3 1,529.0
6 Commercial and industrial 295.0 296.9 296.5
7 Real estate 818.9 825.5 822.7
8 Revolving home equity 47.2 47.6 47.5
9 Other 771.7 777.8 775.3
10 Consumer 304.3 301.9 301.6
11 Security(3) 7.4 7.9 7.9
12 Other loans and leases 98.0 100.2 100.4
13 Interbank loans 87.4 96.9 93.4
14 Cash assets(4) 83.8 82.9 83.4
15 Other assets(5) 120.5 123.3 117.9
16 Total assets(6) 2,346.2 2,368.5 2,355.4
Liabilities
17 Deposits 1,826.5 1,843.0 1,835.5
18 Transaction 296.3 295.3 286.5
19 Nontransaction 1,530.2 1,547.7 1,549.0
20 Large time 299.4 305.4 306.1
21 Other 1,230.8 1,242.4 1,242.9
22 Borrowings 341.9 343.1 344.7
23 From banks in the U.S. 160.6 163.0 163.2
24 From others 181.3 180.1 181.5
25 Net due to related foreign offices 16.8 16.7 16.5
26 Other liabilities 54.0 54.1 52.8
27 Total liabilities 2,239.2 2,256.9 2,249.6
28 Residual (assets less
liabilities)(7) 107.0 111.6 105.8
Not seasonally adjusted
Assets
29 Bank credit 2,074.2 2,076.1 2,072.9
30 Securities in bank credit 556.3 556.0 555.2
31 U.S. government securities 365.5 362.1 362.2
32 Other securities 190.8 194.0 193.0
33 Loans and leases in bank credit(2) 1,517.9 1,520.1 1,517.7
34 Commercial and industrial 293.7 295.2 294.7
35 Real estate 816.3 819.9 817.9
36 Revolving home equity 47.0 47.3 47.2
37 Other 769.2 772.5 770.7
38 Consumer 305.0 300.4 300.3
39 Credit cards and related plans 136.5 131.8 131.6
40 Other 168.5 168.6 168.7
41 Security(3) 7.4 7.9 7.9
42 Other loans and leases 95.6 96.8 96.9
43 Interbank loans 87.3 98.3 96.8
44 Cash assets(4) 85.4 82.4 79.3
45 Other assets(5) 117.6 121.7 116.3
46 Total assets(6) 2,338.0 2,352.0 2,338.7
Liabilities
47 Deposits 1,819.5 1,832.8 1,826.6
48 Transaction 297.9 291.7 282.0
49 Nontransaction 1,521.5 1,541.1 1,544.7
50 Large time 299.4 305.4 306.1
51 Other 1,222.2 1,235.7 1,238.6
52 Borrowings 339.3 336.5 335.7
53 From banks in the U.S. 159.3 158.4 157.3
54 From others 180.0 178.2 178.4
55 Net due to related foreign offices 16.8 16.7 16.5
56 Other liabilities 53.6 54.6 53.4
57 Total Liabilities 2,229.2 2,240.7 2,232.2
58 Residual (assets less
liabilities)(7) 108.8 111.3 106.5
Wednesday figures
Account 2001
Feb. 14 Feb. 21 Feb. 28
Seasonally adjusted
Assets
1 Bank credit 2,093.5 2,095.8 2,091.4
2 Securities in bank credit 561.5 560.3 558.7
3 U.S. government securities 367.7 364.7 361.6
4 Other securities 193.7 195.6 197.1
5 Loans and leases in bank credit(2) 1,532.0 1,535.5 1,532.7
6 Commercial and industrial 296.8 297.2 297.1
7 Real estate 825.2 826.6 827.3
8 Revolving home equity 47.6 47.7 47.8
9 Other 777.7 778.9 779.5
10 Consumer 302.7 303.6 299.6
11 Security(3) 7.6 7.7 8.2
12 Other loans and leases 99.7 100.4 100.5
13 Interbank loans 91.8 98.1 104.2
14 Cash assets(4) 79.3 84.0 85.0
15 Other assets(5) 117.2 137.4 120.8
16 Total assets(6) 2,355.1 2,388.7 2,374.9
Liabilities
17 Deposits 1,835.3 1,846.8 1,854.4
18 Transaction 289.1 300.0 305.5
19 Nontransaction 1,546.2 1,546.8 1,549.0
20 Large time 306.5 305.1 303.8
21 Other 1,239.8 1,241.6 1,245.2
22 Borrowings 342.1 342.8 342.7
23 From banks in the U.S. 161.2 163.8 163.8
24 From others 180.9 179.0 178.9
25 Net due to related foreign offices 15.0 20.2 15.1
26 Other liabilities 53.4 55.7 54.5
27 Total liabilities 2,245.8 2,265.5 2,266.8
28 Residual (assets less
liabilities)(7) 109.3 123.2 108.1
Not seasonally adjusted
Assets
29 Bank credit 2,077.6 2,077.5 2,076.4
30 Securities in bank credit 557.7 555.8 555.4
31 U.S. government securities 364.9 361.6 359.6
32 Other securities 192.8 194.2 195.8
33 Loans and leases in bank credit(2) 1,519.9 1,521.7 1,521.0
34 Commercial and industrial 295.0 295.3 295.9
35 Real estate 819.8 819.9 821.9
36 Revolving home equity 47.3 47.3 47.4
37 Other 772.5 772.6 774.5
38 Consumer 301.4 302.0 297.8
39 Credit cards and related plans 132.3 133.6 129.8
40 Other 169.1 168.4 168.0
41 Security(3) 7.6 7.7 8.2
42 Other loans and leases 96.2 96.8 97.2
43 Interbank loans 94.0 97.3 105.1
44 Cash assets(4) 78.4 86.9 85.1
45 Other assets(5) 115.1 135.6 120.0
46 Total assets(6) 2,338.6 2,370.7 2,360.0
Liabilities
47 Deposits 1,825.7 1,834.8 1,844.1
48 Transaction 285.6 296.9 302.4
49 Nontransaction 1,540.1 1,537.9 1,541.7
50 Large time 306.5 305.1 303.8
51 Other 1,233.7 1,232.8 1,237.9
52 Borrowings 336.4 337.9 336.2
53 From banks in the U.S. 157.0 160.0 159.1
54 From others 179.4 177.9 177.0
55 Net due to related foreign offices 15.0 20.2 15.1
56 Other liabilities 53.7 56.3 55.1
57 Total Liabilities 2,230.9 2,249.1 2,250.5
58 Residual (assets less
liabilities)(7) 107.7 121.5 109.5
E. Foreign-related institutions
Billion of dollars
Monthly averages
Account 2000 2000(r)
Feb. Aug. Sept.
Seasonally adjusted
Assets
1 Bank credit 543.4(r) 586.8 593.8
2 Securities in bank credit 195.3(r) 211.2 209.6
3 U.S. government securities 76.0 79.2 76.9
4 Other securities 119.4(r) 132.0 132.7
5 Loans and leases in bank credit(2) 348.1 375.6 384.2
6 Commercial and industrial 196.4 206.5 203.9
7 Real estate 16.9 18.4 18.8
8 Security(3) 66.8 81.7 94.2
9 Other loans and leases 67.9 69.0 67.3
10 Interbank loans 32.7 22.5 24.0
11 Cash assets(4) 49.9(r) 44.3 44.5
12 Other assets(5) 37.7 41.0 40.1
13 Total assets(6) 663.5(r) 694.2 702.1
Liabilities
14 Deposits 377.2 395.6 388.0
15 Transaction 10.9 10.8 9.7
16 Nontransaction 366.3 384.8 378.3
17 Borrowings 175.5 198.9 214.9
18 From banks in the U.S. 18.4 17.0 19.6
19 From others 157.0 181.9 195.3
20 Net due to related foreign offices 27.4 23.4 24.3
21 Other liabilities 74.2 72.5 75.7
22 Total liabilities 654.2 690.4 702.9
23 Residual (assets less
liabilities)(7) 9.2(r) 3.9 -.9
Not seasonally adjusted
Assets
24 Bank credit 547.7(r) 576.9 593.1
25 Securities in bank credit 196.7(r) 205.4 209.8
26 U.S. government securities 76.1 77.6 74.8
27 Trading account 7.3 13.9 14.2
28 Investment account 68.8 63.7 60.6
29 Other securities 120.6(r) 127.8 135.0
30 Trading account 77.4(r) 83.3 91.9
31 Investment account 43.2 44.6 43.0
32 Loans and leases in bank credit(2) 351.1 371.5 383.3
33 Commercial and industrial 198.9 203.8 203.9
34 Real estate 17.2 18.2 18.6
35 Security(3) 66.6 81.9 94.0
36 Other loans and leases 68.3 67.6 66.8
37 Interbank loans 32.7 22.5 24.0
38 Cash assets(4) 49.3(r) 42.8 43.7
39 Other assets(5) 39.6 40.3 39.4
40 Total assets(6) 669.0(r) 682.1 699.8
Liabilities
41 Deposits 384.2 383.6 381.7
42 Transaction 10.8 10.7 10.2
43 Nontransaction 373.3 372.9 371.5
44 Borrowings 175.5 198.9 214.9
45 From banks in the U.S. 18.4 17.0 19.6
46 From others 157.0 181.9 195.3
47 Net due to related foreign offices 29.7 23.2 23.6
48 Other liabilities 76.2 72.1 75.3
49 Total liabilities 665.5 677.8 695.5
50 Residual (assets less
liabilities)(7) 3.5(r) 4.3 4.3
Monthly averages
Account 2000(r)
Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 582.7 577.2 600.4
2 Securities in bank credit 194.7 186.5 204.0
3 U.S. government securities 70.4 66.7 68.1
4 Other securities 124.3 119.8 136.0
5 Loans and leases in bank credit(2) 388.0 390.7 396.4
6 Commercial and industrial 202.2 202.3 205.6
7 Real estate 17.7 18.3 18.4
8 Security(3) 101.6 102.8 106.1
9 Other loans and leases 66.5 67.3 66.4
10 Interbank loans 27.0 26.7 26.8
11 Cash assets(4) 42.4 38.9 40.4
12 Other assets(5) 41.5 39.9 35.8
13 Total assets(6) 693.2 682.4 703.0
Liabilities
14 Deposits 382.5 381.1 383.6
15 Transaction 10.6 10.6 10.3
16 Nontransaction 372.0 370.5 373.3
17 Borrowings 221.7 225.0 242.7
18 From banks in the U.S. 19.5 20.0 24.7
19 From others 202.2 204.9 218.0
20 Net due to related foreign offices 16.6 6.0 -2.0
21 Other liabilities 80.6 74.7 72.7
22 Total liabilities 701.4 686.8 697.1
23 Residual (assets less
liabilities)(7) -8.1 -4.4 6.0
Not seasonally adjusted
Assets
24 Bank credit 591.5 591.4 611.4
25 Securities in bank credit 202.2 197.3 208.1
26 U.S. government securities 70.0 68.1 69.2
27 Trading account 11.8 10.8 11.7
28 Investment account 58.2 57.2 57.5
29 Other securities 132.3 129.2 138.9
30 Trading account 90.3 87.8 90.3
31 Investment account 42.0 41.5 48.6
32 Loans and leases in bank credit(2) 389.3 394.1 403.3
33 Commercial and industrial 203.6 205.7 209.6
34 Real estate 18.0 18.3 18.3
35 Security(3) 100.9 102.0 106.5
36 Other loans and leases 66.7 68.1 68.8
37 Interbank loans 27.0 26.7 26.8
38 Cash assets(4) 43.3 41.3 43.7
39 Other assets(5) 40.7 40.0 37.9
40 Total assets(6) 702.1 699.1 719.6
Liabilities
41 Deposits 378.1 384.3 392.5
42 Transaction 10.7 10.8 10.9
43 Nontransaction 367.4 373.6 381.6
44 Borrowings 221.7 225.0 242.7
45 From banks in the U.S. 19.5 20.0 24.7
46 From others 202.2 204.9 218.0
47 Net due to related foreign offices 16.8 7.6 3.0
48 Other liabilities 79.9 75.9 74.8
49 Total liabilities 696.5 692.8 713.0
50 Residual (assets less
liabilities)(7) 5.7 6.3 6.5
Monthly Wednesday
averages figures
Account 2001 2001
Jan. Feb. Feb. 7
Seasonally adjusted
Assets
1 Bank credit 615.2(r) 611.1 605.2
2 Securities in bank credit 207.6(r) 202.3 199.2
3 U.S. government securities 66.7(r) 64.4 61.7
4 Other securities 140.9(r) 137.9 137.5
5 Loans and leases in bank credit(2) 407.6 408.8 406.0
6 Commercial and industrial 212.5(r) 215.7 216.3
7 Real estate 18.3(r) 18.0 18.0
8 Security(3) 110.3 107.5 104.2
9 Other loans and leases 66.4 67.5 67.4
10 Interbank loans 29.1 28.2 27.9
11 Cash assets(4) 43.3(r) 43.7 43.2
12 Other assets(5) 37.0 36.0 35.1
13 Total assets(6) 724.2(r) 718.6 711.0
Liabilities
14 Deposits 391.2(r) 383.2 384.4
15 Transaction 10.3 9.7 10.0
16 Nontransaction 381.0 373.5 374.4
17 Borrowings 245.3 240.0 229.7
18 From banks in the U.S. 27.9 24.6 21.0
19 From others 217.4 215.4 208.7
20 Net due to related foreign offices 4.7 6.0 13.2
21 Other liabilities 77.7 77.7 77.8
22 Total liabilities 719.0(r) 706.8 705.1
23 Residual (assets less
liabilities)(7) 5.2 11.7 5.9
Not seasonally adjusted
Assets
24 Bank credit 624.4(r) 614.8 611.8
25 Securities in bank credit 212.7(r) 203.3 203.1
26 U.S. government securities 67.3(r) 64.5 62.4
27 Trading account 11.1 10.4 8.9
28 Investment account 56.2(r) 54.1 53.4
29 Other securities 145.4(r) 138.8 140.7
30 Trading account 95.6(r) 90.9 93.1
31 Investment account 49.7(r) 47.9 47.6
32 Loans and leases in bank credit(2) 411.7 411.5 408.7
33 Commercial and industrial 214.2(r) 218.2 217.6
34 Real estate 18.6(r) 18.3 18.4
35 Security(3) 110.9 107.3 104.4
36 Other loans and leases 68.1(r) 67.7 68.4
37 Interbank loans 29.1 28.2 27.9
38 Cash assets(4) 45.2(r) 43.2 43.0
39 Other assets(5) 38.5 37.7 37.2
40 Total assets(6) 736.9 723.5 719.5
Liabilities
41 Deposits 399.4 390.9 392.6
42 Transaction 10.4 9.6 9.9
43 Nontransaction 389.0 381.3 382.8
44 Borrowings 245.3 240.0 229.7
45 From banks in the U.S. 27.9 24.6 21.0
46 From others 217.4 215.4 208.7
47 Net due to related foreign offices 6.8 8.1 12.2
48 Other liabilities 79.5 79.4 79.8
49 Total liabilities 731.0 718.4 714.4
50 Residual (assets less
liabilities)(7) 5.9 5.1 5.1
Wednesday figures
Account 2001
Feb. 14 Feb. 21 Feb. 28
Seasonally adjusted
Assets
1 Bank credit 604.6 610.5 624.1
2 Securities in bank credit 200.2 203.5 206.4
3 U.S. government securities 63.7 65.0 67.3
4 Other securities 136.6 138.5 139.1
5 Loans and leases in bank credit(2) 404.3 407.0 417.7
6 Commercial and industrial 213.6 214.7 218.3
7 Real estate 18.0 18.1 18.0
8 Security(3) 105.7 107.4 112.9
9 Other loans and leases 67.0 66.8 68.6
10 Interbank loans 24.5 29.5 30.9
11 Cash assets(4) 41.8 44.8 44.9
12 Other assets(5) 37.0 36.6 35.1
13 Total assets(6) 707.5 721.1 734.7
Liabilities
14 Deposits 381.6 388.3 378.4
15 Transaction 9.5 9.4 9.8
16 Nontransaction 372.1 378.9 368.5
17 Borrowings 241.7 232.9 255.7
18 From banks in the U.S. 24.6 19.7 33.3
19 From others 217.1 213.2 222.4
20 Net due to related foreign offices -1.5 6.4 6.1
21 Other liabilities 76.7 77.7 78.4
22 Total liabilities 698.5 705.2 718.5
23 Residual (assets less
liabilities)(7) 9.0 15.8 16.2
Not seasonally adjusted
Assets
24 Bank credit 610.4 610.3 626.8
25 Securities in bank credit 202.7 201.9 205.5
26 U.S. government securities 63.8 64.7 67.1
27 Trading account 10.3 10.9 11.3
28 Investment account 53.5 53.8 55.7
29 Other securities 138.9 137.2 138.4
30 Trading account 90.6 89.2 90.7
31 Investment account 48.2 48.0 47.7
32 Loans and leases in bank credit(2) 407.7 408.4 421.3
33 Commercial and industrial 216.7 217.3 221.4
34 Real estate 18.3 18.3 18.2
35 Security(3) 105.1 106.3 113.3
36 Other loans and leases 67.5 66.5 68.4
37 Interbank loans 24.5 29.5 30.9
38 Cash assets(4) 41.7 44.0 44.0
39 Other assets(5) 38.8 37.8 36.8
40 Total assets(6) 715.0 721.2 738.2
Liabilities
41 Deposits 388.8 394.9 387.2
42 Transaction 9.5 9.5 9.6
43 Nontransaction 379.3 385.4 377.5
44 Borrowings 241.7 232.9 255.7
45 From banks in the U.S. 24.6 19.7 33.3
46 From others 217.1 213.2 222.4
47 Net due to related foreign offices .6 9.2 10.2
48 Other liabilities 78.6 79.1 80.2
49 Total liabilities 709.8 716.0 733.2
50 Residual (assets less
liabilities)(7) 5.2 5.2 5.0
F. Memo items
Billions of dollars
Monthly averages
Account 2000 2000(r)
Feb. Aug. Sept.
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items(8) 64.5 66.5 74.4
2 Revaluation losses on off-balance-
sheet items(8) 64.3 67.3 73.9
3 Mortgage-backed securities(9) 253.2(r) 238.6 238.8
4 Pass-through 175.5(r) 170.2 170.7
5 CMO, REMIC, and other 77.7(r) 68.5 68.1
6 Net unrealized gains (losses) on
available-for-sale securities(10) -10.8 -8.6 -7.4
7 Off-shore credit to U.S. residents(11) 23.6 22.1 22.1
8 Securitized consumer loans(12) n.a. 86.6 85.9
9 Credit cards and related plans n.a. 72.0 71.8
10 Other n.a. 14.6 14.1
11 Securitized business loans(12) n.a. 16.2 15.3
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities(9) 202.4(r) 209.6 211.0
13 Securitized consumer loans(12) n.a. 220.9 221.6
14 Credit cards and related plans n.a. 212.0 213.0
15 Other n.a. 8.9 8.6
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items(8) 42.8 43.0 48.6
17 Revaluation losses on off-balance-
sheet items(8) 42.3 40.1 45.0
18 Securitized business loans(12) n.a. 23.7 23.1
Monthly averages
Account 2000(r)
Oct. Nov. Dec.
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items(8) 70.9 68.0 77.8
2 Revaluation losses on off-balance-
sheet items(8) 72.8 72.6 83.1
3 Mortgage-backed securities(9) 240.3 240.4 242.3
4 Pass-through 173.6 174.0 177.3
5 CMO, REMIC, and other 66.6 66.4 65.0
6 Net unrealized gains (losses) on
available-for-sale securities(10) -4.7 -3.3 -.4
7 Off-shore credit to U.S. residents(11) 22.3 23.1 23.4
8 Securitized consumer loans(12) 80.8 80.5 82.2
9 Credit cards and related plans 67.2 67.3 68.6
10 Other 13.6 13.2 13.6
11 Securitized business loans(12) 15.2 17.8 18.6
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities(9) 211.8 213.2 214.7
13 Securitized consumer loans(12) 224.4 225.4 230.7
14 Credit cards and related plans 215.1 215.9 221.6
15 Other 9.3 9.5 9.1
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items(8) 47.3 44.7 45.6
17 Revaluation losses on off-balance-
sheet items(8) 44.7 41.0 41.7
18 Securitized business loans(12) 23.0 22.8 23.1
Monthly Wednesday
averages figures
Account 2001 2001
Jan.(r) Feb. Feb. 7
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items(8) 79.5 77.6 77.3
2 Revaluation losses on off-balance-
sheet items(8) 82.5 81.0 80.9
3 Mortgage-backed securities(9) 247.7 244.3 247.5
4 Pass-through 182.5 179.2 182.0
5 CMO, REMIC, and other 65.2 65.0 65.5
6 Net unrealized gains (losses) on
available-for-sale securities(10) -2.3 -.5 -.6
7 Off-shore credit to U.S. residents(11) 23.0 22.7 22.8
8 Securitized consumer loans(12) 82.4 80.8 81.8
9 Credit cards and related plans 68.5 67.3 68.1
10 Other 13.9 13.4 13.7
11 Securitized business loans(12) 18.4 18.6 18.6
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities(9) 218.2 222.2 219.0
13 Securitized consumer loans(12) 231.0 235.2 234.3
14 Credit cards and related plans 222.0 226.4 225.4
15 Other 9.0 8.8 8.8
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items(8) 51.0 49.8 49.9
17 Revaluation losses on off-balance-
sheet items(8) 47.4 47.8 47.8
18 Securitized business loans(12) 23.2 22.4 22.8
Wednesday figures
Account 2001
Feb. 14 Feb. 21 Feb. 28
Not seasonally adjusted
MEMO
Large domestically chartered banks,
adjusted for mergers
1 Revaluation gains on off-balance-sheet
items(8) 76.4 76.2 80.6
2 Revaluation losses on off-balance-
sheet items(8) 80.0 79.9 83.3
3 Mortgage-backed securities(9) 247.0 241.7 240.9
4 Pass-through 181.6 176.8 176.6
5 CMO, REMIC, and other 65.4 64.9 64.4
6 Net unrealized gains (losses) on
available-for-sale securities(10) -1.0 -.7 .1
7 Off-shore credit to U.S. residents(11) 22.7 22.5 22.8
8 Securitized consumer loans(12) 80.3 80.0 80.9
9 Credit cards and related plans 66.9 66.7 67.6
10 Other 13.4 13.4 13.3
11 Securitized business loans(12) 18.5 18.5 18.6
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities(9) 221.0 223.3 225.7
13 Securitized consumer loans(12) 233.4 234.6 238.4
14 Credit cards and related plans 224.6 225.8 229.7
15 Other 8.8 8.8 8.7
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items(8) 49.3 49.6 50.3
17 Revaluation losses on off-balance-
sheet items(8) 47.6 47.7 48.1
18 Securitized business loans(12) 22.2 22.3 22.2
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 2000
Item
1999 2000 Aug.
1 All issuers 1,403,023 1,615,341 1,559,054
Financial companies(1)
2 Dealer-placed paper, total(2) 786,643 973,060 905,634
3 Directly placed paper,
total(3) 337,240 298,848 303,307
4 Nonfinancial companies(4) 279,140 343,433 350,113
2000
Item
Sept. Oct. Nov.
1 All issuers 1,557,700 1,587,591 1,624,421
Financial companies(1)
2 Dealer-placed paper, total(2) 899,853 912,739 960,701
3 Directly placed paper,
total(3) 315,039 328,049 312,438
4 Nonfinancial companies(4) 342,809 346,803 351,282
2000 2001
Item
Dec. Jan.
1 All issuers 1,615,341 1,566,104
Financial companies(1)
2 Dealer-placed paper, total(2) 973,060 976,735
3 Directly placed paper,
total(3) 298,848 270,922
4 Nonfinancial companies(4) 343,433 318,447
(1.) Institutions engaged primarily in commercial, savings, and
mortgage banking; sales, personal, and mortgage financing; factoring,
finance leasing, and other business lending; insurance underwriting;
and other investment activities.
(2.) Includes all financial-company paper sold by dealers in the open
market.
(3.) As reported by financial companies that place their paper directly
with investors.
(4.) Includes public utilities and firms engaged primarily in such
activities as communications, construction, manufacturing, mining,
wholesale and retail trade, transportation, and services.
B. Bankers Dollar Acceptances(1)
Millions of dollars, not seasonally adjusted, year ending September(2)
Item 1997 1998 1999 2000
1 Total amount of reporting banks'
acceptances in existence 25,774 14,363 10,094 9,881
2 Amount of other banks' eligible
acceptances held by reporting
banks 736 523 461 462
3 Amount of own eligible acceptances
held by reporting banks
(included in item 1) 6,862 4,884 4,261 3,789
4 Amount of eligible acceptances
representing goods stored in,
or shipped between, foreign
countries (included in item 1) 10,467 5,413 3,498 3,689
(1.) Includes eligible, dollar-denominated bankers acceptances legally
payable in the United States. Eligible acceptances are those that are
eligible for discount by Federal Reserve Banks; that is, those
acceptances that meet the criteria of Paragraph 7 of Section 13 of the
Federal Reserve Act (12 U.S.C. [sections] 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
Period Average
rate
1998 8.35
1999 8.00
2000 9.23
1998--Jan. 8.50
Feb. 8.50
Mar. 8.50
Apr. 8.50
May 8.50
June 8.50
July 8.50
Aug. 8.50
Sept. 8.49
Oct. 8.12
Nov. 7.89
Dec. 7.75
1999--Jan. 7.75
Feb. 7.75
Mar. 7.75
Apr. 7.75
May 7.75
June 7.75
July 8.00
Aug. 8.06
Sept. 8.25
Oct. 8.25
Nov. 8.37
Dec. 8.50
2000--Jan. 8.50
Feb. 8.73
Mar. 8.83
Apr. 9.00
May 9.24
June 9.50
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
(1.) The prime rate is one of several base rates that banks use to
price short-term business loans. The table shows the date on which a
new rate came to be the predominant one quoted by a majority of the
twenty-five largest banks by asset size, based on the most recent Call
Report. Data in this table also appear in the Board's H.15 (519)
weekly and G.13 (415) monthly statistical releases. For ordering
address, see inside front cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of business day data unless
otherwise noted
Item 1998 1999 2000
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.35 4.97 6.24
2 Discount window borrowing(2,4) 4.92 4.62 5.73
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.40 5.09 6.27
4 2-month 5.38 5.14 6.29
5 3-month 5.34 5.18 6.31
Financial
6 1-month 5.42 5.11 6.28
7 2-month 5.40 5.16 6.30
8 3-month 5.37 5.22 6.33
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a.
10 3-month n.a. n.a. n.a.
11 6-month n.a. n.a. n.a.
Finance paper, directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a.
13 3-month n.a. n.a. n.a.
14 6-month n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month 5.39 5.24 6.23
16 6-month 5.30 5.30 6.37
Certificates of deposit,
secondary market(3,10)
17 1-month 5.49 5.19 6.35
18 3-month 5.47 5.33 6.46
19 6-month 5.44 5.46 6.59
20 Eurodollar deposits,
3-month(3,11) 5.45 5.31 6.45
U.S. Treasury bills
Secondary market(3,5)
21 3-month 4.78 4.64 5.82
22 6-month 4.83 4.75 5.90
23 1-year 4.80 4.81 5.78
Auction high(3,5,12)
24 3-month 4.81 4.66 5.66
25 6-month 4.85 4.76 5.85
26 1-year 4.85 4.78 5.85
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 5.05 5.08 6.11
28 2-year 5.13 5.43 6.26
29 3-year 5.14 5.49 6.22
30 5-year 5.15 5.55 6.16
31 7-year 5.28 5.79 6.20
32 10-year 5.26 5.65 6.03
33 20-year 5.72 6.20 6.23
34 30-year 5.58 5.87 5.94
Composite
35 More than 10 years (long-term) 5.69 6.14 6.41
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 4.93 5.28 5.58
37 Baa 5.14 5.70 6.19
38 Bond Buyer series(15) 5.09 5.43 5.71
CORPORATE BONDS
39 Seasoned issues, all 6.87 7.45 7.98
industries(16)
Rating group
40 Aaa 6.53 7.05 7.62
41 Aa 6.80 7.36 7.83
42 A 6.93 7.53 8.11
43 Baa 7.22 7.88 8.36
MEMO
Dividend-price ratio(17)
44 Common stocks 1.49 1.25 1.15
2000 2001
Item
Nov. Dec. Jan.
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 6.51 6.40 5.98
2 Discount window borrowing(2,4) 6.00 6.00 5.52
Commercial paper(3,5,6)
Nonfinancial
3 1-month 6.49 6.51 5.74
4 2-month 6.52 6.42 5.59
5 3-month 6.50 6.34 5.49
Financial
6 1-month 6.49 6.52 5.75
7 2-month 6.54 6.42 5.62
8 3-month 6.52 6.33 5.51
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a.
10 3-month n.a. n.a. n.a.
11 6-month n.a. n.a. n.a.
Finance paper, directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a.
13 3-month n.a. n.a. n.a.
14 6-month n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a.
16 6-month n.a. n.a. n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 6.56 6.62 5.83
18 3-month 6.65 6.45 5.62
19 6-month 6.63 6.30 5.45
20 Eurodollar deposits,
3-month(3,11) 6.64 6.43 5.62
U.S. Treasury bills
Secondary market(3,5)
21 3-month 6.17 5.77 5.15
22 6-month 6.06 5.68 4.95
23 1-year 5.84 5.33 4.63
Auction high(3,5,12)
24 3-month n.a. n.a. n.a.
25 6-month n.a. n.a. n.a.
26 1-year n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 6.09 5.60 4.81
28 2-year 5.88 5.35 4.76
29 3-year 5.79 5.26 4.77
30 5-year 5.70 5.17 4.86
31 7-year 5.78 5.28 5.13
32 10-year 5.72 5.24 5.16
33 20-year 5.98 5.64 5.65
34 30-year 5.78 5.49 5.54
Composite
35 More than 10 years (long-term) n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 5.38 5.11 4.99
37 Baa 6.17 5.85 5.76
38 Bond Buyer series(15) 5.54 5.22 5.10
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.90 7.65 7.55
Rating group
40 Aaa 7.45 7.21 7.15
41 Aa 7.75 7.48 7.38
42 A 8.09 7.88 7.75
43 Baa 8.28 8.02 7.93
MEMO
Dividend-price ratio(17)
44 Common stocks 1.16 1.19 1.16
2001 2001, week ending
Item
Feb. Jan. 26 Feb. 2
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.49 5.96 5.94
2 Discount window borrowing(2,4) 5.00 5.50 5.43
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.39 5.60 5.44
4 2-month 5.25 5.47 5.34
5 3-month 5.14 5.35 5.27
Financial
6 1-month 5.41 5.59 5.48
7 2-month 5.29 5.50 5.40
8 3-month 5.19 5.42 5.30
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a,
10 3-month n.a. n.a. n.a.
11 6-month n.a. n.a. n.a.
Finance paper, directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a.
13 3-month n.a. n.a. n.a.
14 6-month n.a. n,a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a.
16 6-month n.a. n.a. n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 5.47 5.68 5.53
18 3-month 5.26 5.52 5.38
19 6-month 5.12 5.35 5.20
20 Eurodollar deposits,
3-month(3,11) 5.26 5.51 5.37
U.S. Treasury bills
Secondary market(3,5)
21 3-month 4.88 5.11 4.91
22 6-month 4.71 4.92 4.72
23 1-year 4.51 4.64 4.47
Auction high(3,5,12)
24 3-month n.a. n.a. n.a.
25 6-month n.a. n.a. n.a.
26 1-year n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 4.68 4.83 4.66
28 2-year 4.66 4.79 4.66
29 3-year 4.71 4.81 4.70
30 5-year 4.89 4.94 4.87
31 7-year 5.10 5.23 5.12
32 10-year 5.10 5.29 5.20
33 20-year 5.62 5.75 5.65
34 30-year 5.45 5.64 5.56
Composite
35 More than 10 years (long-term) n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 5.09 5.10 5.04
37 Baa 5.86 5.85 5.83
38 Bond Buyer series(15) 5.18 5.20 5.15
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.50 7.60 7.49
Rating group
40 Aaa 7.10 7.21 7.13
41 Aa 7.32 7.44 7.32
42 A 7.69 7.80 7.66
43 Baa 7.87 7.95 7.84
MEMO
Dividend-price ratio(17)
44 Common stocks 1.22 1.15 1.14
2001, week ending
Item
Feb. 9 Feb. 16 Feb. 2
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.51 5.47 5.50
2 Discount window borrowing(2,4) 5.00 5.00 5.00
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.43 5.43 5.43
4 2-month 5.26 5.31 5.29
5 3-month 5.19 5.18 5.16
Financial
6 1-month 5.45 5.45 5.46
7 2-month 5.34 5.33 5.33
8 3-month 5.23 5.23 5.21
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a.
10 3-month n.a. n.a. n.a.
11 6-month n.a. n.a. n.a.
Finance paper, directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a.
13 3-month n.a. n.a. n.a.
14 6-month n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a.
16 6-month n.a. n.a. n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 5.53 5.53 5.49
18 3-month 5.33 5.32 5.27
19 6-month 5.18 5.19 5.11
20 Eurodollar deposits,
3-month(3,11) 5.33 5.32 5.25
U.S. Treasury bills
Secondary market(3,5)
21 3-month 4.94 4.93 4.87
22 6-month 4.76 4.80 4.69
23 1-year 4.54 4.61 4.54
Auction high(3,5,12)
24 3-month n.a. n.a. n.a.
25 6-month n.a. n.a. n.a.
26 1-year n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 4.72 4.80 4.69
28 2-year 4.70 4.78 4.64
29 3-year 4.74 4.81 4.72
30 5-year 4.90 4.95 4.93
31 7-year 5.10 5.14 5.14
32 10-year 5.13 5.11 5.13
33 20-year 5.59 5.65 5.69
34 30-year 5.47 5.45 5.49
Composite
35 More than 10 years (long-term) n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 5.04 5.14 5.12
37 Baa 5.83 5.90 5.89
38 Bond Buyer series(15) 5.15 5.20 5.21
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.47 7.53 7.57
Rating group
40 Aaa 7.12 7.12 7.13
41 Aa 7.28 7.36 7.40
42 A 7.63 7.72 7.78
43 Baa 7.83 7.91 7.96
MEMO
Dividend-price ratio(17)
44 Common stocks 1.17 1.19 1.25
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
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
2 Industrial 684.35 775.29
3 Transportation 468.61 491.62
4 Utility 190.52 284.82
5 Finance 516.65 530.97
6 Standard & Poor's Corporation
(1941-43 = 10)(1) 1,085.50 1,327.33
7 American Stock Exchange
(Aug. 31, 1973 = 50)(2) 682.69 770.90
Volume of trading (thousands
of shares)
8 New York Stock Exchange 666,534 799,554
9 American Stock Exchange 28,870 32,629
Customer financing (millions
of dollars, end-of-period
balance)
10 Margin credit at broker-
dealers(3) 140,980(c) 228,530(c)
Free Credit balances at
brokers(4)
11 Margin accounts(5) 40,250(r) 55,130(c)
12 Cash account 62,450(c) 79,070(c)
Margin requirements (percent
of market value and effective
date)(6)
Mar. 11, 1968
13 Margin stocks 70
14 Convertible bonds 50
15 Short sales 70
2000
Indicator 2000
June
Prices and trading volume
(averages of daily
figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 643.71 649.61
2 Industrial 809.40 819.54
3 Transportation 414.73 395.09
4 Utility 478.99 501.93
5 Finance 552.48 544.51
6 Standard & Poor's Corporation
(1941-43 = 10)(1) 1,427.22 1,461.96
7 American Stock Exchange
(Aug. 31, 1973 = 50)(2) 922.22 934.90
Volume of trading (thousands
of shares)
8 New York Stock Exchange 1,026,867 971,137
9 American Stock Exchange 51,437 42,490
Customer financing (millions
of dollars, end-of-period
balance)
10 Margin credit at broker-
dealers(3) 198,790(c) 247,200
Free Credit balances at
brokers(4)
11 Margin accounts(5) 100,680(c) 64,970
12 Cash account 84,400(c) 74,140
Margin requirements (percent
of market value and effective
date)(6)
June 8, 1968
13 Margin stocks 80
14 Convertible bonds 60
15 Short sales 80
2000
Indicator
July Aug.
Prices and trading volume
(averages of daily
figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 653.27 666.14
2 Industrial 825.28 837.23
3 Transportation 410.67 419.84
4 Utility 484.19 459.91
5 Finance 556.32 597.17
6 Standard & Poor's Corporation
(1941-43 = 10)(1) 1,473.00 1,485.46
7 American Stock Exchange
(Aug. 31, 1973 = 50)(2) 930.66 920.54
Volume of trading (thousands
of shares)
8 New York Stock Exchange 941,694 875,087
9 American Stock Exchange 36,486 35,695
Customer financing (millions
of dollars, end-of-period
balance)
10 Margin credit at broker-
dealers(3) 244,970 247,560
Free Credit balances at
brokers(4)
11 Margin accounts(5) 71,730 68,020
12 Cash account 74,970 72,640
Margin requirements (percent
of market value and effective
date)(6)
May 6, 1970
13 Margin stocks 65
14 Convertible bonds 50
15 Short sales 65
2000
Indicator
Sept. Oct.
Prices and trading volume
(averages of daily
figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 667.05 646.53
2 Industrial 829.99 797.00
3 Transportation 404.23 403.20
4 Utility 463.76 469.16
5 Finance 616.89 587.76
6 Standard & Poor's Corporation
(1941-43 = 10)(1) 1,468.06 1,390.14
7 American Stock Exchange
(Aug. 31, 1973 = 50)(2) 952.74 913.64
Volume of trading (thousands
of shares)
8 New York Stock Exchange 1,026,597 1,167,025
9 American Stock Exchange 47,047 57,915
Customer financing (millions
of dollars, end-of-period
balance)
10 Margin credit at broker-
dealers(3) 250,780 233,376
Free Credit balances at
brokers(4)
11 Margin accounts(5) 70,959 83,131
12 Cash account 74,766 73,271
Margin requirements (percent
of market value and effective
date)(6)
Dec. 6, 1971
13 Margin stocks 55
14 Convertible bonds 50
15 Short sales 55
2000
Indicator
Nov. Dec.
Prices and trading volume
(averages of daily
figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 646.64 645.44
2 Industrial 800.88 792.66
3 Transportation 434.92 457.53
4 Utility 455.66 444.16
5 Finance 600.45 621.62
6 Standard & Poor's Corporation
(1941-43 = 10)(1) 1,375.04 1,330.93
7 American Stock Exchange
(Aug. 31, 1973 = 50)(2) 892.60 870.16
Volume of trading (thousands
of shares)
8 New York Stock Exchange 1,015,606 1,183,149
9 American Stock Exchange 58,541 73,759
Customer financing (millions
of dollars, end-of-period
balance)
10 Margin credit at broker-
dealers(3) 219,110 198,790
Free Credit balances at
brokers(4)
11 Margin accounts(5) 96,730 100,680
12 Cash account 74,050 84,400
Margin requirements (percent
of market value and effective
date)(6)
Nov. 24, 1972
13 Margin stocks 65
14 Convertible bonds 50
15 Short sales 65
2001
Indicator
Jan. Feb.
Prices and trading volume
(averages of daily
figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 650.55 648.05
2 Industrial 796.74 799.38
3 Transportation 471.21 482.26
4 Utility 440.36 424.53
5 Finance 634.17 626.41
6 Standard & Poor's Corporation
(1941-43 = 10)(1) 1,335.63 1,305.75
7 American Stock Exchange
(Aug. 31, 1973 = 50)(2) 898.18 923.99
Volume of trading (thousands
of shares)
8 New York Stock Exchange 1,299,986 1,117,977
9 American Stock Exchange 72,312 70,648
Customer financing (millions
of dollars, end-of-period
balance)
10 Margin credit at broker-
dealers(3) 197,110 186,780
Free Credit balances at
brokers(4)
11 Margin accounts(5) 90,380 99,400
12 Cash account 80,470 78,670
Margin requirements (percent
of market value and effective
date)(6)
Jan. 3, 1974
13 Margin stocks 50
14 Convertible bonds 50
15 Short sales 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly 425),
20 transportation (formerly 15 rail), 40 public utility (formerly 60),
and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit at
broker-dealers has included credit extended against stocks, convertible
bonds, stocks acquired through the exercise of subscription rights,
corporate bonds, and government securities. Separate reporting of data
for margin stocks, convertible bonds, and subscription issues was
discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board of
Governors pursuant to the Securities Exchange Act of 1934, limit the
amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are the
difference between the market value (100 percent) and the maximum loan
value of collateral as prescribed by the Board. Regulation T was
adopted effective Oct. 15, 1934; Regulation U, effective May 1, 1936;
Regulation G, effective Mar. 11, 1968; and Regulation X, effective
Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first
time established in Regulation T the initial margin required for
writing options on securities, setting it at 30 percent of the current
market value of the stock underlying the option. On Sept. 30, 1985, the
Board changed the required initial margin, allowing it to be the same
as the option maintenance margin required by the appropriate exchange
or self-regulatory organization; such maintenance margin rules must be
approved by the Securities and Exchange Commission.
1.38 FEDERAL FISCAL AND FINANCING OPERATIONS
Millions of dollars
Fiscal year
Type of account or operation
1998 1999 2000
U.S. budget(1)
1 Receipts, total 1,721,798 1,827,302 2,025,218
2 On--budget 1,305,999 1,382,986 1,544,634
3 Off-budget 415,799 444,468 480,584
4 Outlays, total 1,652,224 1,702,942 1,788,826
5 On-budget 1,335,948 1,382,262 1,458,061
6 Off-budget 316,604 320,778 330,765
7 Surplus or deficit (-), total 69,246 124,414 236,392
8 On-budget -29,949 724 86,573
9 Off-budget 99,195 123,690 149,819
Source of financing (total)
10 Borrowing from the public -51,211 -88,674 -222,672
11 Operating cash (decrease,
or increase [-]) 4,743 -17,580 3,799
12 Other(2) -22,778 -18,160 -17,519
MEMO
13 Treasury operating balance
(level, end of period) 38,878 56,458 52,659
14 Federal Reserve Banks 4,952 6,641 8,459
15 Tax and loan accounts 33,926 49,817 44,199
Calendar year
Type of account or operation 2000
Sept. Oct. Nov.
U.S. budget(1)
1 Receipts, total 219,474 135,111 125,666
2 On--budget 176,695 101,121 89,216
3 Off-budget 42,779 33,990 36,450
4 Outlays, total 153,727 146,431 149,356
5 On-budget 114,751 115,840 116,737
6 Off-budget 38,901 30,592 32,619
7 Surplus or deficit (-), total 65,747 -11,321 -23,690
8 On-budget 61,944 -14,719 -27,521
9 Off-budget 3,878 3,398 3,831
Source of financing (total)
10 Borrowing from the public -32,334 -29,666 41,325
11 Operating cash (decrease,
or increase [-]) -39,479 42,653 -1,431
12 Other(2) 6,066 -1,666 -16,204
MEMO
13 Treasury operating balance
(level, end of period) 52,659 10,006 11,437
14 Federal Reserve Banks 8,459 5,360 4,382
15 Tax and loan accounts 44,199 4,646 7,055
Calendar year
Type of account or operation 2000 2001
Dec. Jan. Feb.
U.S. budget(1)
1 Receipts, total 200,489 219,215 110,481
2 On--budget 161,737 171,001 70,555
3 Off-budget 38,752 48,214 39,926
4 Outlays, total 167,823 142,836 158,649
5 On-budget 132,747 144,448 123,573
6 Off-budget 35,075 -1,613 35,076
7 Surplus or deficit (-), total 32,666 76,379 -48,168
8 On-budget 28,990 26,553 -53,018
9 Off-budget 3,677 49,827 4,850
Source of financing (total)
10 Borrowing from the public -36,689 -23,990 15,100
11 Operating cash (decrease,
or increase [-]) -9,632 -45,761 45,717
12 Other(2) 13,655 -6,628 -12,649
MEMO
13 Treasury operating balance
(level, end of period) 21,069 66,830 21,113
14 Federal Reserve Banks 5,149 5,256 4,956
15 Tax and loan accounts 15,920 61,574 16,158
(1.) Since 1990, off-budget items have been the social security trust
funds (Federal Old-Age, Survivors, and Disability Insurance) and the
U.S. Postal Service.
(2.) Includes special drawing rights (SDRs); reserve position on the
U.S. quota in the International Monetary Fund (IMF); loans to the IMF;
other cash and monetary assets; accrued interest payable to the public;
allocations of SDRs; deposit funds; miscellaneous liability (including
checks outstanding) and asset accounts; seigniorage; increment on gold;
net gain or loss for U.S. currency valuation adjustment; net gain or
loss for IMF loan-valuation adjustment; and profit on sale of gold.
SOURCE. Monthly totals: U.S. Department of the Treasury, Monthly
Treasury Statement of Receipts and Outlays of the U.S. Government;
fiscal year totals: U.S. Office of Management and Budget, Budget of the
U.S. Government when available.
1.39 U.S. BUDGET RECEIPTS AND OUTLAYS(1)
Millions of dollars
Fiscal year
Source or type
1999 2000
RECEIPTS
1 All sources 1,827,302(r) 2,025,218
2 Individual income taxes, net 879,480 1,004,462
3 Withheld 693,940 780,397
4 Nonwithheld 308,185 358,049
5 Refunds 122,706 134,046
Corporation income taxes
6 Gross receipts 216,324 235,655
7 Refunds 31,645 28,367
8 Social insurance taxes and
contributions, net 611,833 652,852
9 Employment taxes and
contributions(2) 580,880 620,451
10 Unemployment insurance 26,480 27,640
11 Other net receipts(3) 4,473 4,761
12 Excise taxes 70,414 68,865
13 Customs deposits 18,336 19,914
14 Estate and gift taxes 27,782 29,010
15 Miscellaneous receipts(4) 34,929 42,826
OUTLAYS
16 All types 1,702,942 1,788,826
17 National defense 274,873 294,494
18 International affairs 15,243 17,216
19 General science, space,
and technology 18,125 18,637
20 Energy 912 -1,060
21 Natural resources and
environment 23,970 25,031
22 Agriculture 23,011 36,641
23 Commerce and housing credit 2,649 3,211
24 Transportation 42,531 46,854
25 Community and regional
development 11,870 10,629
26 Education, training,
employment, and
social services 56,402 59,201
27 Health 141,079 154,534
28 Social security and Medicare 580,488 606,549
29 Income security 237,707 247,895
30 Veterans benefits and
services 43,212 47,083
31 Administration of justice 25,924 27,820
32 General government 15,771 13,454
33 Net interest(5) 229,735 223,218
34 Undistributed offsetting
receipts(6) -40,445 -42,581
Calendar year
Source or type 1999
H1 H2
RECEIPTS
1 All sources 966,045 892,266
2 Individual income taxes, net 481,907 425,451
3 Withheld 351,068 372,012
4 Nonwithheld 240,278 68,302
5 Refunds 109,467 14,841
Corporation income taxes
6 Gross receipts 106,861 110,111
7 Refunds 17,092 13,996
8 Social insurance taxes and
contributions, net 324,831 292,551
9 Employment taxes and
contributions(2) 306,235 280,059
10 Unemployment insurance 16,378 10,173
11 Other net receipts(3) 2,216 2,319
12 Excise taxes 31,015 34,262
13 Customs deposits 8,440 10,287
14 Estate and gift taxes 14,915 14,001
15 Miscellaneous receipts(4) 15,140 19,569
OUTLAYS
16 All types 817,227 882,465
17 National defense 134,414 149,573
18 International affairs 6,879 8,530
19 General science, space,
and technology 9,319 10,089
20 Energy 797 -90
21 Natural resources and
environment 10,351 12,100
22 Agriculture 9,803 20,887
23 Commerce and housing credit -1,629 7,353
24 Transportation 17,082 23,199
25 Community and regional
development 5,368 6,806
26 Education, training,
employment, and
social services 29,003 27,532
27 Health 69,320 74,490
28 Social security and Medicare 261,146 295,030
29 Income security 126,552 113,504
30 Veterans benefits and
services 20,105 23,412
31 Administration of justice 13,149 13,459
32 General government 6,641 7,010
33 Net interest(5) 116,655 112,420
34 Undistributed offsetting
receipts(6) -17,724 -22,850
Calendar year
Source or type 2000
H1 H2
RECEIPTS
1 All sources 1,089,763(r) 952,942(r)
2 Individual income taxes, net 550,208 458,679
3 Withheld 388,526 395,572
4 Nonwithheld 281,103 77,732
5 Refunds 119,477 14,628
Corporation income taxes
6 Gross receipts 119,166 123,962
7 Refunds 13,781 15,776
8 Social insurance taxes and
contributions, net 353,514 310,122
9 Employment taxes and
contributions(2) 333,584 297,665
10 Unemployment insurance 17,562 10,097
11 Other net receipts(3) 2,368 2,360
12 Excise taxes 33,532 35,501
13 Customs deposits 9,218 10,676
14 Estate and gift taxes 15,073 13,216
15 Miscellaneous receipts(4) 22,831 16,556
OUTLAYS
16 All types 892,947 894,905(r)
17 National defense 143,476 147,651
18 International affairs 7,250 11,902
19 General science, space,
and technology 9,601 10,389
20 Energy -893 -595
21 Natural resources and
environment 10,814 12,907
22 Agriculture 11,164 20,977
23 Commerce and housing credit -2,497 4,408
24 Transportation 21,054 25,841
25 Community and regional
development 5,050 5,962
26 Education, training,
employment, and
social services 31,234 29,263
27 Health 75,871 81,413
28 Social security and Medicare 306,966 307,473
29 Income security 133,915 113,212
30 Veterans benefits and
services 23,174 22,615
31 Administration of justice 13,981 14,635
32 General government 6,198 6,461
33 Net interest(5) 115,545 104,685
34 Undistributed offsetting
receipts(6) -19,346 -24,070
Calendar year
Source or type 2000 2001
Dec. Jan. Feb.
RECEIPTS
1 All sources 200,489 219,215 110,481
2 Individual income taxes, net 83,485 135,702 48,030
3 Withheld 78,133 84,319 70,179
4 Nonwithheld 6,468 52,713 3,454
5 Refunds 1,116 1,330 25,610
Corporation income taxes
6 Gross receipts 53,192 7,778 3,474
7 Refunds 1,886 2,066 4,973
8 Social insurance taxes and
contributions, net 53,559 64,214 53,473
9 Employment taxes and
contributions(2) 52,932 62,259 50,868
10 Unemployment insurance 260 1,596 2,147
11 Other net receipts(3) 367 359 457
12 Excise taxes 5,865 5,307 4,074
13 Customs deposits 1,461 1,694 1,474
14 Estate and gift taxes 1,863 2,403 1,879
15 Miscellaneous receipts(4) 2,949 4,183 3,050
OUTLAYS
16 All types 167,823 142,836 158,649
17 National defense 29,176 21,792 22,555
18 International affairs 4,828 1,289 1,153
19 General science, space,
and technology 1,868 1,383 1,619
20 Energy 182 -378 -174
21 Natural resources and
environment 2,083 1,708 1,737
22 Agriculture 3,618 3,870 2,003
23 Commerce and housing credit 555 -943 -487
24 Transportation 4,035 3,323 3,502
25 Community and regional
development 822 722 939
26 Education, training,
employment, and
social services 6,122 5,660 5,957
27 Health 12,975 14,087 13,011
28 Social security and Medicare 54,224 50,633 52,154
29 Income security 23,882 18,473 33,203
30 Veterans benefits and
services 5,520 2,101 4,089
31 Administration of justice 2,495 2,602 2,201
32 General government 1,205 707 2,400
33 Net interest(5) 17,122 19,575 17,590
34 Undistributed offsetting
receipts(6) -2,889 -3,767 -4,802
(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
1998 1999
Item
Dec. 31 Mar. 31 June 30
1 Federal debt outstanding 5,643 5,681 5,668
2 Public debt securities 5,614 5,652 5,639
3 Held by public 3,787 3,795 3,685
4 Held by agencies 1,827 1,857 1,954
5 Agency securities 29 29 29
6 Held by public 29 28 28
7 Held by agencies 1 1 1
8 Debt subject to
statutory limit 5,530 5,566 5,552
9 Public debt securities 5,530 5,566 5,552
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
1999 2000
Item
Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,685 5,805 5,802
2 Public debt securities 5,656 5,776 5,773
3 Held by public 3,667 3,716 3,688
4 Held by agencies 1,989 2,061 2,085
5 Agency securities 29 29 28
6 Held by public 28 28 28
7 Held by agencies 1 1 0
8 Debt subject to
statutory limit 5,568 5,687 5,687
9 Public debt securities 5,568 5,687 5,686
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
2000
Item
June 30 Sept. 30 Dec. 31
1 Federal debt outstanding 5,714 5,702 5,690
5,686 5,674 5,662
2 Public debt securities 3,496 3,439 3,414(r)
3 Held by public 2,190 2,236 2,249
4 Held by agencies
28 28 27
5 Agency securities 28 28 27
6 Held by public 0 0 0
7 Held by agencies
8 Debt subject to 5,601 5,592 5,581
statutory limit
5,601 5,591 5,580
9 Public debt securities 0 0 0
10 Other debt(1)
MEMO 5,950 5,950 5,950
11 Statutory debt limit
(1.) Consists of guaranteed debt of U.S. Treasury and other federal
agencies, specified participation certificates, notes to international
lending organizations, and District of Columbia stadium bonds.
SOURCE. U.S. Department of the Treasury, Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1997 1998 1999
1 Total gross public debt 5,502.4 5,614.2 5,776.1
By type
2 Interest-beating 5,494.9 5,605.4 5,766.1
3 Marketable 3,456.8 3,355.5 3,281.0
4 Bills 715.4 691.0 737.1
5 Notes 2,106.1 1,960.7 1,784.5
6 Bonds 587.3 621.2 643.7
7 Inflation-indexed notes
and bonds(1) 33.0 67.6 100.7
8 Nonmarketable(2) 2,038.1 2,249.9 2,485.1
9 State and local,
government series 124.1 165.3 165.7
10 Foreign issues(3) 36.2 34.3 31.3
11 Government 36.2 34.3 31.3
12 Public 0.0 0.0 0.0
13 Savings bonds and notes 181.2 180.3 179.4
14 Government account
series(4) 1,666.7 1,840.0 2,078.7
15 Non-interest-bearing 7.5 8.8 10.0
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 1,657.1(r) 1,828.1(r) 2,064.2(r)
17 Federal Reserve Banks(6) 430.7(r) 452.1(r) 478.0(r)
18 Private investors 3,414.6 3,334.0 3,233.9
19 Depository institutions 300.3 237.3 246.5(r)
20 Mutual funds 321.5 343.2 348.6
21 Insurance companies 176.6 144.5 125.3
22 State and local
treasuries(7) 239.3 269.3 266.8
Individuals
23 Savings bonds 186.5 186.6(r) 186.4(r)
24 Pension funds 360.5(r) 375.3(r) 380.9(r)
25 Private 143.5(r) 157.6(r) 167.7(r)
26 State and Local 216.9 217.7(r) 213.2
27 Foreign and
international(8) 1,241.6 1,278.7 1,268.8
28 Other miscellaneous
investors(7,9) 589.5 498.8 407.1
2000
Type and holder 2000
Q1 Q2
1 Total gross public debt 5,662.2 5,773.4 5,685.9
By type
2 Interest-beating 5,618.1 5,763.8 5,675.9
3 Marketable 2,966.9 3,261.2 3,070.7
4 Bills 646.9 753.3 629.9
5 Notes 1,557.3 1,732.6 1,679.1
6 Bonds 626.5 653.0 637.7
7 Inflation-indexed notes
and bonds(1) 121.2 107.4 109.0
8 Nonmarketable(2) 2,651.2 2,502.6 2,605.2
9 State and local,
government series 151.0 161.9 160.4
10 Foreign issues(3) 27.2 28.8 27.7
11 Government 27.2 28.8 27.7
12 Public 0.0 0.0 0.0
13 Savings bonds and notes 176.9 178.6 177.7
14 Government account
series(4) 2,266.1 2,103.3 2,209.4
15 Non-interest-bearing 44.2 9.6 10.1
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 2,270.2 2,088.9(r) 2,193.6(r)
17 Federal Reserve Banks(6) 511.7 501.7 504.9
18 Private investors 2,880.4 3,182.8 2,987.4
19 Depository institutions 197.9 234.9(r) 219.4
20 Mutual funds 336.4 339.6(r) 322.4
21 Insurance companies 119.5 124.1(r) 121.3
22 State and local
treasuries(7) 246.2 257.2 256.4
Individuals
23 Savings bonds 184.8 1,853.0 184.6
24 Pension funds 375.8 382.1(r) 384.1(r)
25 Private 181.3 171.0(r) 173.6(r)
26 State and Local 194.5 211.1 210.5(r)
27 Foreign and
international(8) 1,220.8 1,273.9 1,248.9
28 Other miscellaneous
investors(7,9) n.a. 382.1(r) 246.7(r)
2000
Type and holder
Q3 Q4
1 Total gross public debt 5,674.2 5,662.2
By type
2 Interest-beating 5,622.1 5,618.1
3 Marketable 2,992.8 2,966.9
4 Bills 616.2 646.9
5 Notes 1,611.3 1,557.3
6 Bonds 635.3 626.5
7 Inflation-indexed notes
and bonds(1) 115.0 121.2
8 Nonmarketable(2) 2,629.3 2,651.2
9 State and local,
government series 153.3 151.0
10 Foreign issues(3) 25.4 27.2
11 Government 25.4 27.2
12 Public 0.0 0.0
13 Savings bonds and notes 177.7 176.9
14 Government account
series(4) 2,242.9 2,266.1
15 Non-interest-bearing 52.1 44.2
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 2,226.5(r) 2,270.2
17 Federal Reserve Banks(6) 511.4 511.7
18 Private investors 2,936.2 2,880.4
19 Depository institutions 218.3 197.9
20 Mutual funds 323.7 336.4
21 Insurance companies 120.6 119.5
22 State and local
treasuries(7) 246.9 246.2
Individuals
23 Savings bonds 184.3(r) 184.8
24 Pension funds 379.1 375.8
25 Private 179.2 181.3
26 State and Local 199.9 194.5
27 Foreign and
international(8) 1,225.2 1,220.8
28 Other miscellaneous
investors(7,9) 224.4 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
2000 2001
Item
Nov. Dec. Jan.
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 33,213 33,972 30,524
Coupon securities, by maturity
2 Five years or less 116,403 142,810 184,852
3 More than five years 62,146 80,454 92,425
4 Inflation-indexed 1,033 1,441 2,801
Federal agency
5 Discount notes 52,139 54,545 62,160
Coupon securities, by maturity
6 One year or less 1,094 1,821 1,451
7 More than one year, but
less than
or equal to five years 9,936 10,987 15,202
8 More than five years 7,450 12,455 12,984
9 Mortgage-backed 80,031 77,576 100,680
By type of counterparty
With interdealer broker
10 U.S. Treasury 92,335 117,395 145,363
11 Federal agency 8,654 11,965 13,683
12 Mortgage-backed 23,812 26,775 31,191
With other
13 U.S. Treasury 120,459 141,282 165,238
14 Federal agency 61,966 67,843 78,114
15 Mortgage-backed 56,219 50,801 69,489
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills 0 n.a. n.a.
Coupon securities, by maturity
17 Five years or less 3,309 3,629 3,821
18 More than five years 13,051 14,020 15,474
19 Inflation-indexed 0 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than
or equal to five years 0 0 0
23 More than five years 72 325 63
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 1,548 1,380 1,116
27 More than five years 3,619 4,111 4,423
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than
or equal to five years n.a. 0 20
32 More than five years 124 14 105
33 Mortgage-backed 1,272 1,228 1,269
2001, week ending
Item
Jan. 3 Jan. 10 Jan. 17
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 46,063 31,026 31,192
Coupon securities, by maturity
2 Five years or less 138,635 233,089 167,473
3 More than five years 70,178 108,729 88,749
4 Inflation-indexed 2,034 5,306 2,310
Federal agency
5 Discount notes 63,200 53,350 66,652
Coupon securities, by maturity
6 One year or less 1,225 1,246 2,800
7 More than one year, but
less than
or equal to five years 10,168 21,825 13,689
8 More than five years 7,280 17,020 10,642
9 Mortgage-backed 54,267 144,559 114,402
By type of counterparty
With interdealer broker
10 U.S. Treasury 117,676 178,968 139,148
11 Federal agency 11,240 18,578 11,889
12 Mortgage-backed 22,031 44,970 30,924
With other
13 U.S. Treasury 139,234 199,182 150,575
14 Federal agency 70,633 74,862 81,895
15 Mortgage-backed 32,236 99,589 83,479
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by maturity
17 Five years or less 2,637 4,007 3,831
18 More than five years 11,731 17,813 15,512
19 Inflation-indexed 0 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than
or equal to five years 0 0 0
23 More than five years n.a. 118 55
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 407 1,628 1,553
27 More than five years 3,491 6,201 4,420
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than
or equal to five years 0 0 0
32 More than five years 0 n.a. n.a.
33 Mortgage-backed 1,092 2,105 692
2001, week ending
Item
Jan. 24 Jan. 31 Feb. 7
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 25,294 28,501 26,276
Coupon securities, by maturity
2 Five years or less 184,622 169,233 169,260
3 More than five years 83,347 97,040 106,574
4 Inflation-indexed 2,387 1,411 1,670
Federal agency
5 Discount notes 61,610 67,509 66,661
Coupon securities, by maturity
6 One year or less 793 1,324 1,823
7 More than one year, but
less than
or equal to five years 13,104 13,901 14,215
8 More than five years 13,583 12,505 11,961
9 Mortgage-backed 104,151 60,919 128,664
By type of counterparty
With interdealer broker
10 U.S. Treasury 135,431 137,738 143,319
11 Federal agency 12,816 12,066 12,146
12 Mortgage-backed 30,977 21,504 41,121
With other
13 U.S. Treasury 160,220 158,446 160,461
14 Federal agency 76,273 83,173 82,514
15 Mortgage-backed 73,174 39,415 87,543
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills n.a. n.a. 0
Coupon securities, by maturity
17 Five years or less 4,256 3,666 3,221
18 More than five years 15,182 14,893 14,148
19 Inflation-indexed 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than
or equal to five years n.a. 0 0
23 More than five years 20 58 17
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 754 902 826
27 More than five years 3,853 3,590 4,190
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than
or equal to five years 0 0 0
32 More than five years 55 197 0
33 Mortgage-backed 1,206 1,029 2,048
2001, week ending
Item
Feb. 14 Feb. 21 Feb. 28
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 23,666 23,684 48,699
Coupon securities, by maturity
2 Five years or less 164,570 162,784 208,772
3 More than five years 97,364 73,762 106,457
4 Inflation-indexed 950 1,910 2,209
Federal agency
5 Discount notes 62,908 64,851 70,415
Coupon securities, by maturity
6 One year or less 1,118 1,742 1,005
7 More than one year, but
less than
or equal to five years 16,041 13,458 32,471
8 More than five years 9,160 7,461 10,665
9 Mortgage-backed 140,877 80,090 78,285
By type of counterparty
With interdealer broker
10 U.S. Treasury 136,292 120,840 165,470
11 Federal agency 11,317 10,849 15,803
12 Mortgage-backed 38,985 20,191 27,846
With other
13 U.S. Treasury 150,258 141,300 200,667
14 Federal agency 77,910 76,663 98,753
15 Mortgage-backed 101,892 59,899 50,439
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by maturity
17 Five years or less 3,734 3,685 6,171
18 More than five years 16,827 15,705 22,167
19 Inflation-indexed 0 0 0
Federal agency
20 Discount notes 0 0 0
Coupon securities, by maturity
21 One year or less 0 0 0
22 More than one year, but
less than
or equal to five years 0 0 0
23 More than five years n.a. 36 139
24 Mortgage-backed 0 0 0
OPTIONS TRANSACTIONS(4)
By type of underlying security
25 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
26 Five years or less 1,172 1,188 743
27 More than five years 4,683 3,975 3,778
28 Inflation-indexed 0 0 0
Federal agency
29 Discount notes 0 0 0
Coupon securities, by maturity
30 One year or less 0 0 0
31 More than one year, but
less than
or equal to five years 0 0 0
32 More than five years 93 101 278
33 Mortgage-backed 1,445 1,113 1,104
(1.) Transactions are market purchases and sales of securities as
reported to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of
primary dealers. Monthly averages are based on the number of
trading days in the month. Transactions are assumed to be evenly
distributed among the trading days of the report week.
Immediate, forward, and futures transactions are reported at
principal value, which does not include accrued interest; options
transactions are reported at the face value of the underlying
securities.
Dealers report cumulative transactions for each week ending
Wednesday.
(2.) Outright transactions include immediate and forward
transactions. Immediate delivery refers to purchases or sales of
securities (other than mortgage-backed federal agency securities)
for which delivery is scheduled in five business days or less and
"when-issued" securities that settle on the issue dale of offering.
Transactions for immediate delivery of mortgage-backed agency
securities include purchases and sales for which delivery is
scheduled in thirty business days or less. Stripped securities
are required at market value by maturity of coupon or corpus.
Forward transactions are agreements made in the over-the-counter
market that specify delayed delivery. Forward contracts for
U.S. Treasury securities and federal agency debt
securities are included when the time to delivery is more than
five business days. Forward contracts for mortgage-backed agency
securities are included when the time to delivery is
more than thirty business days.
(3.) Futures transactions are standardized agreements arranged
on an exchange. All futures transactions are included regardless of
time to delivery.
(4.) Options transactions are purchases or sales of put and call
options, whether arranged on an organized exchange or in the
over-the-counter market, and include options on futures
contracts on U.S. Treasury and federal agency securities.
NOTE. "n.a." indicates that data are not published because of
insufficient activity.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing(1)
Millions of dollars
2000 2001
Item
Nov. Dec. Jan.
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 6,870 15,431 10,534
Coupon securities, by maturity
2 Five years or less -28,545 -18,515 -12,508
3 More than five years -11,005 -13,463 -10,547
4 Inflation-indexed 3,015 1,713 3,574
Federal agency
5 Discount notes 29,599 31,108 30,005
Coupon securities, by maturity
6 One year or less 16,088 16,590 17,285
7 More than one year, but
less than
or equal to five years 7,057 7,293 6,450
8 More than five years 4,043 5,104 6,360
9 Mortgage-backed 12,132 14,596 15,656
NET FUTURES POSITIONS(4)
By type of deliverable security
10 U.S. Treasury bills n.a. 0 n.a.
Coupon securities, by maturity
11 Five years or less 1,921 -252 1,131
12 More than five years -2,745 -3,090 -6,366
13 Inflation indexed 0 0 0
Federal agency
14 Discount notes 0 0 0
Coupon securities, by maturity
15 One year or less 0 0 0
16 More than one year, but
less than
or equal to five years 0 0 0
17 More than five years -1,364 -521 -91
18 Mortgage-backed 0 0 0
NET OPTIONS POSITIONS
By type of deliverable security
19 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
20 Five years or less -1,768 -684 767
21 More than five years -203 -93 1,054
22 Inflation-indexed 0 0 0
Federal agency
23 Discount notes 0 0 0
Coupon securities, by maturity
24 One year or less 0 0 0
25 More than one year, but
less than
or equal to five years -209 -528 -529
26 More than five years 259 533 603
27 Mortgage-backed 2,892 2,031 894
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 310,115 336,969 348,805
29 Term 824,867 821,860 803,216
Securities borrowed
30 Overnight and continuing 271,420 263,064 270,561
31 Term 123,967 137,491 129,862
Securities received as pledge
32 Overnight and continuing 2,748 3,029 3,382
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 724,736 769,228 794,087
35 Term 796,328 785,387 764,792
Securities loaned
36 Overnight and continuing 8,221 8,587 9,914
37 Term 4,465 4,284 4,185
Securities pledged
38 Overnight and continuing 56,285 56,939 54,311
39 Term 3,981 4,207 4,032
Collateralized loans
40 Total 26,695 25,778 24,507
2001, week ending
Item
Jan. 3 Jan. 10 Jan. 17
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 12,648 11,859 6,987
Coupon securities, by maturity
2 Five years or less -13,626 -10,388 -12,565
3 More than five years -13,363 -10,442 -10,434
4 Inflation-indexed 1,400 4,458 3,628
Federal agency
5 Discount notes 29,242 29,498 33,882
Coupon securities, by maturity
6 One year or less 17,187 15,160 17,826
7 More than one year, but
less than
or equal to five years 5,520 6,757 6,822
8 More than five years 6,141 6,573 8,037
9 Mortgage-backed 20,050 17,785 16,521
NET FUTURES POSITIONS(4)
By type of deliverable security
10 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by maturity
11 Five years or less 601 -859 -475
12 More than five years -1,608 -4,660 -6,726
13 Inflation indexed 0 0 0
Federal agency
14 Discount notes 0 0 0
Coupon securities, by maturity
15 One year or less 0 0 0
16 More than one year, but
less than
or equal to five years 0 0 0
17 More than five years -215 -68 -56
18 Mortgage-backed 0 0 0
NET OPTIONS POSITIONS
By type of deliverable security
19 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
20 Five years or less -344 1,248 1,421
21 More than five years 1,043 1,021 1,294
22 Inflation-indexed 0 0 0
Federal agency
23 Discount notes 0 0 0
Coupon securities, by maturity
24 One year or less 0 0 0
25 More than one year, but
less than
or equal to five years -660 -586 -561
26 More than five years 731 836 268
27 Mortgage-backed -537 -207 360
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 344,120 349,812 344,926
29 Term 716,768 771,154 802,742
Securities borrowed
30 Overnight and continuing 268,404 280,055 273,500
31 Term 138,307 132,370 128,726
Securities received as pledge
32 Overnight and continuing n.a. n.a. n.a.
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 775,926 784,189 802,148
35 Term 692,715 744,867 766,159
Securities loaned
36 Overnight and continuing 9,754 10,354 9,765
37 Term 4,179 4,168 4,171
Securities pledged
38 Overnight and continuing 59,944 58,504 54,998
39 Term 4,212 4,228 3,786
Collateralized loans
40 Total 28,184 26,103 25,033
2001, week ending
Item
Jan. 24 Jan. 31 Feb. 7
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 12,609 9,774 8,105
Coupon securities, by maturity
2 Five years or less -13,972 -12,628 -15,217
3 More than five years -9,383 -10,721 -6,115
4 Inflation-indexed 3,733 3,395 2,963
Federal agency
5 Discount notes 31,607 25,360 31,734
Coupon securities, by maturity
6 One year or less 17,686 18,509 19,374
7 More than one year, but
less than
or equal to five years 6,942 5,678 6,930
8 More than five years 6,179 4,747 5,215
9 Mortgage-backed 13,052 13,385 11,541
NET FUTURES POSITIONS(4)
By type of deliverable security
10 U.S. Treasury bills n.a. n.a. n.a.
Coupon securities, by maturity
11 Five years or less 2,870 3,215 3,632
12 More than five years -8,017 -8,099 -10,962
13 Inflation indexed 0 0 0
Federal agency
14 Discount notes 0 0 0
Coupon securities, by maturity
15 One year or less 0 0 0
16 More than one year, but
less than
or equal to five years n.a. n.a. n.a.
17 More than five years -62 -124 -153
18 Mortgage-backed 0 0 0
NET OPTIONS POSITIONS
By type of deliverable security
19 U.S. Treasury bills 0 0 0
Coupon securities, by maturity
20 Five years or less 1,634 -758 649
21 More than five years 1,100 807 243
22 Inflation-indexed 0 0 0
Federal agency
23 Discount notes 0 0 0
Coupon securities, by maturity
24 One year or less 0 0 0
25 More than one year, but
less than
or equal to five years -448 -464 -489
26 More than five years 383 868 500
27 Mortgage-backed 2,357 1,680 2,064
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 338,103 364,387 327,737
29 Term 837,898 838,120 887,333
Securities borrowed
30 Overnight and continuing 267,513 262,101 281,075
31 Term 128,360 126,371 117,049
Securities received as pledge
32 Overnight and continuing 3,042 2,418 2,584
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 783,734 814,061 781,539
35 Term 791,009 788,021 833,380
Securities loaned
36 Overnight and continuing 9,862 9,743 9,592
37 Term 4,103 4,301 4,258
Securities pledged
38 Overnight and continuing 51,701 49,627 50,507
39 Term 3,878 4,159 4,188
Collateralized loans
40 Total 26,837 18,479 24,975
2001, week ending
Item
Feb. 14 Feb. 21
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 1,309 1,840
Coupon securities, by maturity
2 Five years or less -15,619 -19,210
3 More than five years -2,686 -3,145
4 Inflation-indexed 3,590 4,506
Federal agency
5 Discount notes 36,194 32,880
Coupon securities, by maturity
6 One year or less 17,588 17,919
7 More than one year, but
less than
or equal to five years 6,419 5,088
8 More than five years 6,120 5,169
9 Mortgage-backed 10,241 10,827
NET FUTURES POSITIONS(4)
By type of deliverable security
10 U.S. Treasury bills n.a. n.a.
Coupon securities, by maturity
11 Five years or less 1,938 2,855
12 More than five years -14,479 -10,334
13 Inflation indexed 0 0
Federal agency
14 Discount notes 0 0
Coupon securities, by maturity
15 One year or less 0 0
16 More than one year, but
less than
or equal to five years n.a. n.a.
17 More than five years -347 -361
18 Mortgage-backed 0 0
NET OPTIONS POSITIONS
By type of deliverable security
19 U.S. Treasury bills 0 0
Coupon securities, by maturity
20 Five years or less 1,571 305
21 More than five years -688 -1,604
22 Inflation-indexed 0 0
Federal agency
23 Discount notes 0 0
Coupon securities, by maturity
24 One year or less 0 0
25 More than one year, but
less than
or equal to five years -740 -734
26 More than five years 340 313
27 Mortgage-backed 1,258 1,247
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 343,786 342,527
29 Term 904,553 791,217
Securities borrowed
30 Overnight and continuing 279,487 285,069
31 Term 121,425 115,014
Securities received as pledge
32 Overnight and continuing 2,912 2,730
33 Term n.a. n.a.
Repurchase agreements
34 Overnight and continuing 808,069 787,131
35 Term 858,292 750,884
Securities loaned
36 Overnight and continuing 9,562 9,527
37 Term 4,246 4,078
Securities pledged
38 Overnight and continuing 51,934 52,388
39 Term 5,904 4,422
Collateralized loans
40 Total 20,291 21,331
(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.) Securities positions are reported at market value.
(3.) Net outright positions include immediate and forward positions.
Net immediate positions include securities purchased or sold
(other than mortgage-backed agency securities) that
have been delivered or are scheduled to be delivered in five
business days or less and "when-issued" securities that settle on the
issue date of offering. Net immediate positions for
mortgage-bucked agency securities include securities purchased or
sold that have been delivered or are scheduled to be delivered in
thirty business days or less.
Forward positions reflect agreements made in the over-the-counter
market that specify delayed delivery. Forward contracts for U.S.
Treasury securities and federal agency debt
securities are included when the time to delivery is mom than five
business days. Forward contracts for mortgage-backed agency securities
are included when the time to delivery is more than thirty business
days.
(4.) Futures positions reflect standardized agreements arranged on
an exchange. All futures positions are included regardless of time
to delivery.
(5.) Overnight financing refers to agreements made on one business
day that mature on the next business day; continuing contracts are
agreements that remain in effect for more than one business day but
have no specific maturity and can be terminated without advance
notice by either party; term agreements have a fixed maturity of
more than one business day. Financing data are reported in terms of
actual funds paid or received, including accrued interest.
NOTE. "n.a." indicates that data are not published because of
insufficient activity.
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
participations 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
Association(9) 37,717 35,399 41,988
16 Financing Corporation(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation(11) 1,261 1,261 1,261
18 Resolution Funding
Corporation(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt(13) 49,090 44,129 42,152
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) 552 n.a. n.a.
21 Postal Service(6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association(6) n.a. n.a. n.a.
Other lending(14)
25 Farmers Home Administration 13,530 9,500 6,665
26 Rural Electrification
Administration 14,898 14,091 14,085
27 Other 20,110 20,538 21,402
2000
Agency 2000
Aug. Sept.
1 Federal and federally
sponsored agencies 1,851,632 1,763,089 1,776,334
2 Federal agencies 25,666 25,892 25,993
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 255 210 227
6 Government National Mortgage
Association certificates of
participations n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,660 25,886 25,987
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 1,825,966 1,737,197 1,750,341
11 Federal Home Loan Banks 594,404 572,836 580,579
12 Federal Home Loan Mortgage
Corporation 426,899 412,656 406,936
13 Federal National Mortgage
Association 642,700 595,117 607,000
14 Farm Credit Banks(8) 74,181 70,139 71,055
15 Student Loan Marketing
Association(9) 45,375 44,113 42,423
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 38,040 42,837
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) n.a. n.a. n.a.
21 Postal Service(6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association(6) n.a. n.a. n.a.
Other lending(14)
25 Farmers Home Administration 5,275 5,660 5,540
26 Rural Electrification
Administration 13,126 13,238 12,989
27 Other 22,174 19,142 24,308
2000
Agency
Oct. Nov. Dec.
1 Federal and federally
sponsored agencies n.a. 1,833,155 1,851,632
2 Federal agencies 25,523 25,555 25,666
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 237 239 255
6 Government National Mortgage
Association certificates of
participations n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,517 25,549 25,660
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 1,777,824 1,807,600 1,825,966
11 Federal Home Loan Banks 576,689 580,957 594,404
12 Federal Home Loan Mortgage
Corporation 422,960 429,617 426,899
13 Federal National Mortgage
Association 615,463 633,100 642,700
14 Farm Credit Banks(8) 71,345 71,667 74,181
15 Student Loan Marketing
Association(9) 48,988 50,016 45,375
16 Financing Corporation(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation(11) 1,261 1,261 1,261
18 Resolution Funding
Corporation(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt(13) 41,280 40,170 40,575
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) n.a. n.a. n.a.
21 Postal Service(6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association(6) n.a. n.a. n.a.
Other lending(14)
25 Farmers Home Administration 5,540 5,320 5,275
26 Rural Electrification
Administration 12,891 13,023 13,126
27 Other 22,849 21,827 22,174
(1.) Consists of mortgages assumed by the Defense Department between
1957 and 1963 under family housing and homeowners assistance programs.
(2.) Includes participation certificates reclassified as debt
beginning Oct. 1, 1976.
(3.) On-budget since Sept. 30, 1976.
(4.) Consists of debentures issued in payment of Federal Housing
Administration insurance claims. Once issued, these securities may
be sold privately on the securities market.
(5.) Certificates of participation issued before fiscal year 1969 by
the Government National Mortgage Association acting as trustee for
the Farmers Home Administration; the Department
of Health, Education, and Welfare; the Department of Housing and
Urban Development; the Small Business Administration; and the
Veterans Administration.
(6.) Off-budget.
(7.) Includes outstanding noncontingent liabilities: notes, bonds, and
debentures. Includes Federal Agricultural Mortgage Corporation;
therefore, details do not sum to total. Some data are estimated.
(8.) Excludes borrowing by the Farm Credit Financial Assistance
Corporation, which is shown on line 17.
(9.) Before late 1982, the association obtained financing through
the Federal Financing Bank (FFB). Borrowing excludes that obtained
from the FFB, which is shown on line 22.
(10.) The Financing Corporation, established in August 1987 to
recapitalize the Federal Savings and Loan Insurance Corporation,
undertook its first borrowing in October 1987.
(11.) The Farm Credit Financial Assistance Corporation, established
in January 1988 to provide assistance to the Farm Credit System,
undertook its first borrowing in July 1988.
(12.) The Resolution Funding Corporation, established by the
Financial Institutions Reform, Recovery, and Enforcement Act of 1989,
undertook its first borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to
purchase or sell obligations issued, sold, or guaranteed by other
federal agencies. Because FFB incurs debt solely for the
purpose of lending to other agencies, its debt is not included
in the main portion of the table to avoid double counting.
(14.) Includes FFB purchases of agency assets and guaranteed loans;
the latter are loans guaranteed by numerous agencies, with the
amounts guaranteed by any one agency generally being small. The
Farmers Home Administration entry consists exclusively of agency
assets, whereas the Rural Electrification Administration entry
consists of both agency assets and guaranteed loans.
1.45 NEW SECURITY ISSUES Tax-Exempt State and Local Governments
Millions of dollars
Type of issue or issuer, 1998 1999 2000
or use
1 All issues, new and refunding(1) 262,342 215,427 180,403
By type of issue
2 General obligation 87,015 73,308 64,475
3 Revenue 175,327 142,120 115,928
By type of issuer
4 State 23,506 16,376 19,944
5 Special district or statutory
authority(2) 178,421 152,418 111,695
6 Municipality, county, or township 60,173 46,634 39,273
7 Issues for new capital 160,568 161,065 154,257
By use of proceeds
8 Education 36,904 36,563 38,665
9 Transportation 19,926 17,394 19,730
10 Utilities and conservation 21,037 15,098 11,917
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 8,594 9,099 7,122
13 Other purposes 42,450 47,896 47,309
2000
Type of issue or issuer,
or use
July Aug. Sept.
1 All issues, new and refunding(1) 12,827 15,284 15,598
By type of issue
2 General obligation 4,256 5,194 6,888
3 Revenue 8,572 10,090 8,710
By type of issuer
4 State 783 1,011 2,022
5 Special district or statutory
authority(2) 8,545 10,728 10,152
6 Municipality, county, or township 3,500 3,545 3,424
7 Issues for new capital 11,297 12,402 13,968
By use of proceeds
8 Education 3,185 3,630 3,210
9 Transportation 1,947 1,979 1,574
10 Utilities and conservation 353 1,409 1,408
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 632 281 387
13 Other purposes 2,543 3,564 5,243
2000
Type of issue or issuer,
or use
Oct. Nov. Dec.
1 All issues, new and refunding(1) 18,035 18,079 15,348
By type of issue
2 General obligation 5,871 5,044 5,060
3 Revenue 12,163 13,036 10,288
By type of issuer
4 State 3,005 1,942 1,640
5 Special district or statutory
authority(2) 11,224 12,311 1,053
6 Municipality, county, or township 3,806 3,827 3,165
7 Issues for new capital 16,387 14,520 13,286
By use of proceeds
8 Education 3,492 3,446 2,919
9 Transportation 2,575 2,124 1,381
10 Utilities and conservation 1,272 1,973 1,307
11 Social welfare n.a. n.a. n.a.
12 Industrial aid 730 500 615
13 Other purposes 6,558 3,787 4,264
2001
Type of issue or issuer,
or use
Jan. Feb.
1 All issues, new and refunding(1) 11,255 19,829
By type of issue
2 General obligation 6,256 9,389
3 Revenue 4,999 10,441
By type of issuer
4 State 1,738 3,268
5 Special district or statutory
authority(2) 7,061 11,011
6 Municipality, county, or township 2,456 5,550
7 Issues for new capital 8,758 13,384
By use of proceeds
8 Education 2,786 3,102
9 Transportation 780 2,411
10 Utilities and conservation 678 1,335
11 Social welfare n.a. n.a.
12 Industrial aid 63 281
13 Other purposes 3,013 4,742
(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
Type of issue, offering, 1998 1999 2000(r)
or issuer
1 All issues(1) 1,128,491 1,072,866 942,198
2 Bonds(2) 1,001,736 941,298 807,281
By type of offering
3 Sold in the United States 923,771 818,683 684,484
4 Sold abroad 77,965 122,615 122,798
MEMO
5 Private placements, domestic n.a. n.a. n.a.
By industry group
6 Nonfinancial 307,711(r) 293,963 242,452
7 Financial 694,025(r) 647,335 564,829
8 Stocks(3) 205,605 217,868 134,917
By type of offering
9 Public 126,755 131,568 134,917
10 Private placement(4) 78,850 86,300 n.a.
By industry group
11 Nonfinancial 74,113 110,284 118,369
12 Financial 52,642 21,284 16,548
2000
Type of issue, offering,
or issuer
June July Aug.
1 All issues(1) 100,615 65,511 82,752
2 Bonds(2) 92,742 57,476 69,875
By type of offering
3 Sold in the United States 75,271 40,753 56,133
4 Sold abroad 17,471 16,723 13,742
MEMO
5 Private placements, domestic 3,391 1,038 241
By industry group
6 Nonfinancial 29,412 15,885 17,947
7 Financial 63,331 41,592 51,928
8 Stocks(3) 7,873 8,035 12,877
By type of offering
9 Public 7,873 8,035 12,877
10 Private placement(4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 6,521 7,773 8,645
12 Financial 1,352 262 4,232
2000
Type of issue, offering,
or issuer
Sept. Oct. Nov.
1 All issues(1) 94,492 62,466 95,595
2 Bonds(2) 88,102 53,345 84,094
By type of offering
3 Sold in the United States 73,516 47,415 76,383
4 Sold abroad 14,586 5,930 7,712
MEMO
5 Private placements, domestic 376 127 5,534
By industry group
6 Nonfinancial 24,483 12,547 25,784
7 Financial 63,619 40,799 58,310
8 Stocks(3) 6,390 9,121 11,501
By type of offering
9 Public 6,390 9,121 11,501
10 Private placement(4) n.a. n.a. n.a.
By industry group
11 Nonfinancial 6,205 8,278 10,794
12 Financial 185 843 707
2000 2001
Type of issue, offering,
or issuer
Dec. Jan.
1 All issues(1) 61,378(r) 128,930
2 Bonds(2) 58,713(r) 118,372
By type of offering
3 Sold in the United States 57,189 115,583
4 Sold abroad 1,525 2,789
MEMO
5 Private placements, domestic 3,709 26
By industry group
6 Nonfinancial 18,219 44,443
7 Financial 40,495 73,928
8 Stocks(3) 2,665 7,459
By type of offering
9 Public 2,665 7,459
10 Private placement(4) n.a. n.a.
By industry group
11 Nonfinancial 2,146 4,349
12 Financial 519 3,110
(1.) Figures represent gross proceeds of issues maturing in more than
one year; they are the principal amount or number of units calculated
by multiplying by the offering price. Figures exclude secondary
offerings, employee stock plans, investment companies other than
closed-end, intracorporate transactions, and Yankee bonds. Stock data
include ownership securities issued by limited partnerships.
(2.) Monthly data include 144(a) offerings.
(3.) Monthly data cover only public offerings.
(4.) Data are not available.
SOURCE. Securities Data Company and the Board of Governors of the
Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets(1)
Millions of dollars
2000
Item 1999 2000
July Aug.
1 Sales of own
shares(2) 1,791,894 2,279,315 166,815 179,890
2 Redemptions of own
shares 1,621,987 2,057,277 151,717 159,027
3 Net sales(3) 169,906 222,038 15,098 20,864
4 Assets(4) 5,233,191 5,123,747 5,392,308 5,745,264
5 Cash(5) 219,189 277,386 258,472 261,967
6 Other 5,014,002 4,846,361 5,133,836 5,483,298
2000
Item
Sept. Oct. Nov.
1 Sales of own
shares(2) 159,809 169,071 143,412
2 Redemptions of own
shares 147,644 153,067 138,791
3 Net sales(3)
12,166 16,004 4,621
4 Assets(4)
5,550,176 5,442,937 4,993,008
5 Cash(5) 280,192 302,682 300,133
6 Other 5,269,984 5,140,255 4,692,875
2001
Item
Dec. Jan.(r) Feb.
1 Sales of own
shares(2) 170,255 206,765 148,308
2 Redemptions of own
shares 160,918 171,819 141,568
3 Net sales(3)
9,337 34,946 6,740
4 Assets(4)
5,123,747 5,280,222 4,877,931
5 Cash(5) 277,386 280,472 270,886
6 Other 4,846,361 4,999,750 4,607,045
(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
Account 1998 1999 2000
1 Profits with inventory
valuation and capital
consumption adjustment 815.0 856.0 946.2
2 Profits before taxes 758.2 823.0 925.6
3 Profits-tax liability 244.6 255.9 284.2
4 Profits after taxes 513.6 567.1 641.4
5 Dividends 351.5 370.7 397.0
6 Undistributed profits 162.1 196.4 244.4
7 Inventory valuation 17.0 -9.1 -12.9
8 Capital consumption
adjustment 39.9 42.1 33.5(r)
1999
Account
Q1 Q2 Q3 Q4
1 Profits with inventory
valuation and capital
consumption adjustment 852.0 836.8 842.0 893.2
2 Profits before taxes 797.6 804.5 819.0 870.7
3 Profits-tax liability 247.8 250.8 254.2 270.8
4 Profits after taxes 549.9 553.7 564.8 599.9
5 Dividends 361.1 367.2 373.9 380.6
6 Undistributed profits 188.7 186.5 190.9 219.3
7 Inventory valuation 11.4 -8.9 -19.7 -19.2
8 Capital consumption
adjustment 42.9 41.2 42.7 41.6
2000
Account
Q1 Q2 Q3 Q4
1 Profits with inventory
valuation and capital
consumption adjustment 936.3 963.6 970.3 914.7
2 Profits before taxes 920.7 942.5 945.1 894.1
3 Profits-tax liability 286.3 292.0 290.6 267.7
4 Profits after taxes 634.4 650.4 654.4 626.4
5 Dividends 387.3 393.0 400.1 407.6
6 Undistributed profits 247.1 257.4 254.4 218.8
7 Inventory valuation -25.0 -13.6 -4.5 -8.5
8 Capital consumption
adjustment 40.6 34.7 29.7 29.1(r)
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
Account 1998 1999 2000
ASSETS
1 Accounts receivable,
gross(2) 711.7 811.5 915.3
2 Consumer 261.8 279.8 296.1
3 Business 347.5 405.2 471.1
4 Real estate 102.3 126.5 148.1
5 LESS: Reserves for
unearned income 56.3 53.5 59.9
6 Reserves for losses 13.8 13.5 14.7
7 Accounts receivable, net 641.6 744.6 840.6
8 All other 337.9 406.3 463.0
9 Total assets 979.5 1,150.9 1,303.7
LIABILITIES AND CAPITAL
10 Bank loans 26.3 35.1 35.6
11 Commercial paper 231.5 227.9 235.2
Debt
12 Owed to parent 61.8 123.8 145.8
13 Not elsewhere classified 339.7 397.0 464.1
14 All other liabilities 203.2 222.7 280.4
15 Capital, surplus, and
undivided profits 117.0 144.5 142.6
16 Total liabilities and
capital 979.5 1,150.9 1,303.6
1999
Account
Q2 Q3 Q4
ASSETS
1 Accounts receivable,
gross(2) 756.5 776.3 811.5
2 Consumer 269.2 271.0 279.8
3 Business 373.7 383.0 405.2
4 Real estate 113.5 122.3 126.5
5 LESS: Reserves for
unearned income 53.4 54.0 53.5
6 Reserves for losses 13.4 13.6 13.5
7 Accounts receivable, net 689.7 708.6 744.6
8 All other 373.2 368.5 406.3
9 Total assets 1,062.9 1,077.2 1,150.9
LIABILITIES AND CAPITAL
10 Bank loans 25.1 27.0 35.1
11 Commercial paper 231.0 205.3 227.9
Debt
12 Owed to parent 65.4 84.5 123.8
13 Not elsewhere classified 383.1 396.2 397.0
14 All other liabilities 226.1 216.0 222.7
15 Capital, surplus, and
undivided profits 132.2 148.2 144.5
16 Total liabilities and
capital 1,062.9 1,077.2 1,150.9
2000
Account
Q1 Q2 Q3 Q4
ASSETS
1 Accounts receivable,
gross(2) 848.7 884.4 900.1 915.3
2 Consumer 285.4 294.1 301.9 296.1
3 Business 434.6 454.1 455.7 471.1
4 Real estate 128.8 136.2 142.4 148.1
5 LESS: Reserves for
unearned income 54.0 57.1 58.8 59.9
6 Reserves for losses 14.0 14.4 14.2 14.7
7 Accounts receivable, net 780.7 813.0 827.1 840.6
8 All other 412.7 418.3 441.4 463.0
9 Total assets 1,193.4 1,231.3 1,268.4 1,303.7
LIABILITIES AND CAPITAL
10 Bank loans 28.5 32.5 35.4 35.6
11 Commercial paper 230.2 221.3 215.6 235.2
Debt
12 Owed to parent 145.1 137.1 144.3 145.8
13 Not elsewhere classified 412.0 445.4 465.5 464.1
14 All other liabilities 247.6 259.3 269.2 280.4
15 Capital, surplus, and
undivided profits 130.1 135.6 138.3 142.6
16 Total liabilities and
capital 1,193.4 1,231.3 1,268.4 1,303.6
(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 875.8 993.0 1,145.0
2 Consumer 352.8 385.3 439.3
3 Real estate 131.4 154.7 174.7
4 Business 391.6 453.9 531.0
Not seasonally adjusted
5 Total 884.0 1,003.2 1,155.7
6 Consumer 356.1 388.8 443.4
7 Motor vehicles loans 103.1 114.7 1,225.0
8 Motor vehicle leases 93.3 98.3 102.9
9 Revolving(2) 32.3 33.8 38.3
10 Other(3) 33.1 33.1 32.4
Securitized assets(4)
11 Motor vehicle loans 54.8 71.1 97.1
12 Motor vehicle leases 12.7 9.7 6.6
13 Revolving 8.7 10.5 27.5
14 Other 18.1 17.7 16.0
15 Real estate 131.4 154.7 174.7
16 One- to four-family 75.7 88.3 105.2
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 0.1 0.2 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 assets4
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
2000
Type of credit
Aug. Sept. Oct.
Seasonally adjusted
1 Total 1,094.1 1,112.1 1,134.9
2 Consumer 411.1 419.7 437.3
3 Real estate 169.0 170.9 174.4
4 Business 514.1 521.6 523.2
Not seasonally adjusted
5 Total 1,087.9 1,106.8 1,132.9
6 Consumer 412.3 421.0 437.9
7 Motor vehicles loans 1,307.0 1,301.0 131.8
8 Motor vehicle leases 105.4 104.6 104.3
9 Revolving(2) 33.6 35.4 37.1
10 Other(3) 32.3 31.7 31.9
Securitized assets(4)
11 Motor vehicle loans 76.2 78.8 84.3
12 Motor vehicle leases 7.4 7.2 7.0
13 Revolving 10.7 17.2 25.8
14 Other 16.2 16.0 15.7
15 Real estate 169.0 170.9 174.4
16 One- to four-family 101.7 100.9 104.6
17 Other 40.2 41.5 42.1
Securitized real estate
assets(4)
18 One- to four-family 26.8 26.5 25.7
19 Other 0.2 1.9 1.9
20 Business 506.7 514.9 520.6
21 Motor vehicles 89.6 94.1 95.9
22 Retail loans 34.3 34.8 34.7
23 Wholesale loans(5) 32.6 35.5 37.5
24 Leases 22.7 23.7 23.7
25 Equipment 250.0 256.7 259.4
26 Loans 54.3 55.8 56.1
27 Leases 195.8 200.9 203.3
28 Other business receivables(6) 108.3 104.9 103.7
Securitized assets4
29 Motor vehicles 29.6 31.9 34.2
30 Retail loans 2.7 2.4 2.3
31 Wholesale loans 24.5 27.1 29.5
32 Leases 2.4 2.4 2.4
33 Equipment 22.4 21.4 21.7
34 Loans 15.9 15.1 14.9
35 Leases 6.5 6.4 6.7
36 Other business
receivables(6) 6.8 5.8 5.8
2000 2001
Type of credit
Nov. Dec. Jan.
Seasonally adjusted
1 Total 1,136.2 1,145.0 1,157.9
2 Consumer 439.8 439.3 445.3
3 Real estate 176.6 174.7 177.5
4 Business 519.7 531.0 535.1
Not seasonally adjusted
5 Total 1,137.9 1,155.7 1,157.8
6 Consumer 441.4 443.4 445.4
7 Motor vehicles loans 127.8 122.5 117.5
8 Motor vehicle leases 104.0 102.9 103.8
9 Revolving(2) 38.0 38.3 38.1
10 Other(3) 32.0 32.4 32.4
Securitized assets(4)
11 Motor vehicle loans 91.5 97.1 103.9
12 Motor vehicle leases 6.8 6.6 6.3
13 Revolving 25.8 27.5 27.6
14 Other 15.5 16.0 15.8
15 Real estate 176.6 174.7 177.5
16 One- to four-family 107.0 105.2 108.0
17 Other 42.7 42.9 43.2
Securitized real estate
assets(4)
18 One- to four-family 25.0 24.7 24.4
19 Other 1.9 1.9 1.9
20 Business 519.9 537.7 535.0
21 Motor vehicles 93.3 95.2 93.6
22 Retail loans 32.3 31.0 30.8
23 Wholesale loans(5) 37.3 39.6 38.2
24 Leases 23.8 24.6 24.6
25 Equipment 259.3 267.3 266.2
26 Loans 54.7 56.2 56.3
27 Leases 204.6 211.1 209.9
28 Other business receivables(6) 103.2 108.6 109.7
Securitized assets4
29 Motor vehicles 37.0 37.8 37.3
30 Retail loans 3.1 3.2 3.1
31 Wholesale loans 31.5 32.5 32.1
32 Leases 2.4 2.2 2.2
33 Equipment 21.3 23.1 22.5
34 Loans 14.6 15.5 14.7
35 Leases 6.7 7.6 7.8
36 Other business
receivables(6) 5.8 5.6 5.6
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to
the June 1996 Survey of Finance Companies. In that benchmark survey,
and in the monthly surveys that have followed, more detailed
breakdowns have been obtained for some components. In addition,
previously unavailable data on securitized real estate loans are
now included in this table. The new information has resulted in some
reclassification of receivables among the three major categories
(consumer, real estate, and business) and in discontinuities in
some component series between May and June 1996.
Includes finance company subsidiaries of bank holding companies but
not of retailers and banks. Data in this table also appear in the
Board's G.20 (422) monthly statistical release. For
ordering address, see inside 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 total because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance
companies.
(3.) Includes personal cash loans, mobile home loans, and loans
to purchase other types of consumer goods, such as appliances,
apparel, boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets
of the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans
used primarily for business or farm purposes; and
wholesale and lease paper for mobile homes, campers, and travel
trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
Item 1998 1999 2000
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands of
dollars) 195.2 210.7 234.5
2 Amount of loan (thousands of
dollars) 151.1 161.7 177.0
3 Loan-to-price ratio (percent) 80.0 78.7 77.4
4 Maturity (years) 28.4 28.8 29.2
5 Fees and charges (percent of loan
amount)(2) .89 .77 .70
Yield (percent per year)
6 Contract rate(1) 6.95 6.94 7.41
7 Effective rate(1,3) 7.08 7.06 7.52
8 Contract rate (HUD series)(4) 7.00 7.45 n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)(2) 7.04 7.74 n.a.
10 GNMA securities(6) 6.43 7.03 7.57
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 414,515 523,941 610,122
12 FHA/VA insured 33,770 55,318 61,539
13 Conventional 380,745 468,623 548,583
14 Mortgage transactions purchased
(during period) 188,448 195,210 154,231
Mortgage commitments (during
period)
15 Issued(7) 193,795 187,948 163,689
16 To sell(8) 1,880 5,900 11,786
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holding (end
of period)(8)
17 Total 255,010 324,443 385,693
18 FHA/VA insured 785 1,836 3,332
19 Conventional 254,225 322,607 382,361
Mortgage transaction
(during period)
20 Purchases 267,402 239,793 174,043
21 Sales 250,565 233,031 166,901
22 Mortgage commitments contracted
(during period)(9) 281,889 228,432 169,231
2000
Item
Aug. Sept. Oct.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands of
dollars) 237.0 241.9 240.2
2 Amount of loan (thousands of
dollars) 179.7 182.5 180.4
3 Loan-to-price ratio (percent) 77.7 77.1 77.2
4 Maturity (years) 29.3 29.2 29.2
5 Fees and charges (percent of loan
amount)(2) .68 .70 .69
Yield (percent per year)
6 Contract rate(1) 7.44 7.41 7.43
7 Effective rate(1,3) 7.54 7.52 7.53
8 Contract rate (HUD series)(4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)(2) n.a. n.a. n.a.
10 GNMA securities(6) 7.44 7.43 7.30
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 568,187 574,087 586,756
12 FHA/VA insured 60,150 59,961 60,329
13 Conventional 508,037 514,126 526,427
14 Mortgage transactions purchased
(during period) 13,352 11,501 18,444
Mortgage commitments (during
period)
15 Issued(7) 14,253 16,143 17,435
16 To sell(8) 236 693 268
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holding (end
of period)(8)
17 Total 357,002 361,624 365,198
18 FHA/VA insured 2,903 3,517 3,530
19 Conventional 354,099 358,107 361,668
Mortgage transaction
(during period)
20 Purchases 16,056 21,748 16,195
21 Sales 15,558 21,189 15,614
22 Mortgage commitments contracted
(during period)(9) 17,468 19,481 17,915
2000
Item
Nov. Dec.
Terms and yields in
primary and secondary
markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands of
dollars) 247.2 250.0
2 Amount of loan (thousands of
dollars) 184.2 187.3
3 Loan-to-price ratio (percent) 76.2 76.5
4 Maturity (years) 29.2 29.1
5 Fees and charges (percent of loan
amount)(2) .69 .73
Yield (percent per year)
6 Contract rate(1) 7.36 7.29
7 Effective rate(1,3) 7.47 7.40
8 Contract rate (HUD series)(4) n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)(2) n.a. n.a.
10 GNMA securities(6) 7.22 6.83
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 598,951 610,122
12 FHA/VA insured 60,694 61,539
13 Conventional 538,257 548,583
14 Mortgage transactions purchased
(during period) 17,322 17,193
Mortgage commitments (during
period)
15 Issued(7) 15,287 20,120
16 To sell(8) 676 1,436
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holding (end
of period)(8)
17 Total 372,819 385,693
18 FHA/VA insured 3,321 3,332
19 Conventional 369,498 382,361
Mortgage transaction
(during period)
20 Purchases 19,402 24,313
21 Sales 18,823 22,277
22 Mortgage commitments contracted
(during period)(9) 20,012 21,780
2001
Item
Jan. Feb.
Terms and yields in
primary and secondary
markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands of
dollars) 238.7 245.0
2 Amount of loan (thousands of
dollars) 181.6 185.4
3 Loan-to-price ratio (percent) 78.2 77.9
4 Maturity (years) 29.4 29.0
5 Fees and charges (percent of loan
amount)(2) .71 .70
Yield (percent per year)
6 Contract rate(1) 7.09 6.99
7 Effective rate(1,3) 7.20 7.10
8 Contract rate (HUD series)(4) n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)(2) n.a. n.a.
10 GNMA securities(6) 6.57 6.61
Activity in secondary
market
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 623,950 632,850
12 FHA/VA insured 62,970 63,337
13 Conventional 560,980 569,513
14 Mortgage transactions purchased
(during period) 20,598 17,230
Mortgage commitments (during
period)
15 Issued(7) 27,325 25,471
16 To sell(8) 766 835
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holding (end
of period)(8)
17 Total 391,679 407,086
18 FHA/VA insured 3,307 3,319
19 Conventional 388,372 403,767
Mortgage transaction
(during period)
20 Purchases 15,658 16,536
21 Sales 15,364 15,549
22 Mortgage commitments contracted
(during period)(9) 18,685 17,664
(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 1996 1997
1 All holders 4,868,298 5,204,119
By type of property
2 One- to four-family residences 3,718,683 3,973,692
3 Multifamily residences 288,837 302,291
4 Nonfarm, nonresidential 773,643 837,837
5 Farm 87,134 90,299
By type of holder
6 Major financial institutions 1,981,886 2,083,981
7 Commercial banks(2) 1,145,389 1,245,315
8 One- to four-family 677,603 745,510
9 Multifamily 45,451 49,670
10 Nonfarm, nonresidential 397,452 423,148
11 Farm 24,883 26,986
12 Savings institutions(3) 628,335 631,826
13 One- to four-family 513,712 520,782
14 Multifamily 61,570 59,540
15 Nonfarm, nonresidential 52,723 51,150
16 Farm 331 354
17 Life insurance companies 208,162 206,840
18 One- to four-family 6,977 7,187
19 Multifamily 30,750 30,402
20 Nonfarm, nonresidential 160,315 158,779
21 Farm 10,120 10,472
22 Federal and related agencies 295,192 286,194
23 Government National Mortgage Association 2 8
24 One- to four-family 2 8
25 Multifamily 0 0
26 Farmers Home Administration(4) 41,596 41,195
27 One- to four-family 17,303 17,253
28 Multifamily 11,685 11,720
29 Nonfarm, nonresidential 6,841 7,370
30 Farm 5,768 4,852
31 Federal Housing and Veterans'
Administrations 6,244 3,811
32 One- to four-family 3,524 1,767
33 Multifamily 2,719 2,044
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 2,431 724
40 One- to four-family 365 117
41 Multifamily 413 140
42 Nonfarm, nonresidential 1,653 467
43 Farm 0 0
44 Federal National Mortgage Association 168,813 161,308
45 One- to four-family 155,008 149,831
46 Multifamily 13,805 11,477
47 Federal Land Banks 29,602 30,657
48 One- to four-family 1,742 1,804
49 Farm 0 0
50 Federal Home Loan Mortgage Corporation 46,504 48,454
51 One- to four-family 41,758 42,629
52 Multifamily 4,746 5,825
53 Mortgage pools or trusts(5) 2,040,847 2,239,350
54 Government National Mortgage Association 506,246 536,879
55 One- to four-family 494,064 523,225
56 Multifamily 12,182 13,654
57 Federal Home Loan Mortgage Corporation 554,260 579,385
58 One- to four-family 551,513 576,846
59 Multifamily 2,747 2,539
60 Federal National Mortgage Association 650,779 709,582
61 One- to four-family 633,209 687,981
62 Multifamily 17,570 21,601
63 Farmers Home Administration(4) 3 2
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 3 2
68 Private mortgage conduits 329,559 413,502
69 One- to four-family(6) 258,800 316,400
70 Multifamily 16,369 21,591
71 Nonfarm, nonresidential 54,390 75,511
72 Farm 0 0
73 Individuals and others(7) 550,372 594,594
74 One- to four-family 363,104 382,315
75 Multifamily 68,830 72,088
76 Nonfarm, nonresidential 100,269 121,412
77 Farm 18,169 18,779
1999
Type of holder and property 1998
Q3
1 All holders 5,737,161 6,236,316
By type of property
2 One- to four-family residences 4,362,699 4,698,263
3 Multifamily residences 332,121 360,939
4 Nonfarm, nonresidential 945,836 1,075,719
5 Farm 96,506 101,395
By type of holder
6 Major financial institutions 2,194,813 2,321,356
7 Commercial banks(2) 1,337,217 1,418,819
8 One- to four-family 797,492 827,291
9 Multifamily 54,116 63,964
10 Nonfarm, nonresidential 456,574 496,246
11 Farm 29,035 31,320
12 Savings institutions(3) 643,957 676,346
13 One- to four-family 533,918 560,622
14 Multifamily 56,821 57,282
15 Nonfarm, nonresidential 52,801 57,983
16 Farm 417 459
17 Life insurance companies 213,640 226,190
18 One- to four-family 6,590 7,432
19 Multifamily 31,522 31,998
20 Nonfarm, nonresidential 164,004 174,571
21 Farm 11,524 12,189
22 Federal and related agencies 293,613 322,572
23 Government National Mortgage Association 7 8
24 One- to four-family 7 8
25 Multifamily 0 0
26 Farmers Home Administration(4) 40,851 73,705
27 One- to four-family 16,895 16,583
28 Multifamily 11,739 11,745
29 Nonfarm, nonresidential 7,705 41,068
30 Farm 4,513 4,308
31 Federal Housing and Veterans'
Administrations 3,674 3,889
32 One- to four-family 1,849 2,013
33 Multifamily 1,825 1,876
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 361 163
40 One- to four-family 58 26
41 Multifamily 70 31
42 Nonfarm, nonresidential 233 105
43 Farm 0 0
44 Federal National Mortgage Association 157,675 153,172
45 One- to four-family 147,594 142,982
46 Multifamily 10,081 10,190
47 Federal Land Banks 32,983 34,217
48 One- to four-family 1,941 2,013
49 Farm 0 0
50 Federal Home Loan Mortgage Corporation 57,085 55,695
51 One- to four-family 49,106 44,010
52 Multifamily 7,979 11,685
53 Mortgage pools or trusts(5) 2,589,800 2,891,187
54 Government National Mortgage Association 537,446 569,038
55 One- to four-family 522,498 552,670
56 Multifamily 14,948 16,368
57 Federal Home Loan Mortgage Corporation 646,459 738,581
58 One- to four-family 643,465 735,088
59 Multifamily 2,994 3,493
60 Federal National Mortgage Association 834,517 938,484
61 One- to four-family 804,204 903,531
62 Multifamily 30,313 34,953
63 Farmers Home Administration(4) 1 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 1 0
68 Private mortgage conduits 571,378 645,083
69 One- to four-family(6) 412,700 455,276
70 Multifamily 34,329 40,935
71 Nonfarm, nonresidential 124,348 148,872
72 Farm 0 0
73 Individuals and others(7) 658,935 701,202
74 One- to four-family 423,416 447,171
75 Multifamily 75,374 76,242
76 Nonfarm, nonresidential 140,171 156,874
77 Farm 19,974 20,915
1999 2000
Type of holder and property
Q4 Q1
1 All holders 6,385,916 6,481,515
By type of property
2 One- to four-family residences 4,793,966 4,853,759
3 Multifamily residences 374,596 382,386
4 Nonfarm, nonresidential 1,114,392 1,141,622
5 Farm 102,962 103,748
By type of holder
6 Major financial institutions 2,394,923 2,456,786
7 Commercial banks(2) 1,495,502 1,546,816
8 One- to four-family 879,552 904,581
9 Multifamily 67,591 72,431
10 Nonfarm, nonresidential 516,520 537,131
11 Farm 31,839 32,673
12 Savings institutions(3) 668,634 680,745
13 One- to four-family 549,072 560,046
14 Multifamily 59,138 57,759
15 Nonfarm, nonresidential 59,948 62,447
16 Farm 475 493
17 Life insurance companies 230,787 229,225
18 One- to four-family 5,934 5,874
19 Multifamily 32,818 32,602
20 Nonfarm, nonresidential 179,048 177,870
21 Farm 12,987 12,879
22 Federal and related agencies 322,352 323,145
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 72,899
27 One- to four-family 16,506 16,456
28 Multifamily 11,741 11,732
29 Nonfarm, nonresidential 41,355 40,509
30 Farm 4,268 4,202
31 Federal Housing and Veterans'
Administrations 3,712 3,794
32 One- to four-family 1,851 1,847
33 Multifamily 1,861 1,947
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 152 98
40 One- to four-family 25 16
41 Multifamily 29 19
42 Nonfarm, nonresidential 98 63
43 Farm 0 0
44 Federal National Mortgage Association 151,500 150,312
45 One- to four-family 141,195 139,986
46 Multifamily 10,305 10,326
47 Federal Land Banks 34,187 34,142
48 One- to four-family 2,012 2,009
49 Farm 0 0
50 Federal Home Loan Mortgage Corporation 56,676 57,009
51 One- to four-family 44,321 43,384
52 Multifamily 12,355 13,625
53 Mortgage pools or trusts(5) 2,954,784 2,982,316
54 Government National Mortgage Association 582,263 589,192
55 One- to four-family 565,189 571,506
56 Multifamily 17,074 17,686
57 Federal Home Loan Mortgage Corporation 749,081 757,106
58 One- to four-family 744,619 752,607
59 Multifamily 4,462 4,499
60 Federal National Mortgage Association 960,883 975,815
61 One- to four-family 924,941 938,898
62 Multifamily 35,942 36,917
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 662,557 660,203
69 One- to four-family(6) 462,600 455,623
70 Multifamily 42,628 43,268
71 Nonfarm, nonresidential 157,330 161,312
72 Farm 0 0
73 Individuals and others(7) 713,857 719,268
74 One- to four-family 454,126 456,285
75 Multifamily 78,420 79,326
76 Nonfarm, nonresidential 160,093 162,289
77 Farm 21,217 21,368
2000
Type of holder and property
Q2 Q3
1 All holders 6,651,208 6,803,226
By type of property
2 One- to four-family residences 4,977,879 5,104,650
3 Multifamily residences 392,595 399,882
4 Nonfarm, nonresidential 1,174,687 1,191,463
5 Farm 106,047 107,232
By type of holder
6 Major financial institutions 2,548,570 2,603,713
7 Commercial banks(2) 1,614,307 1,648,734
8 One- to four-family 948,496 968,069
9 Multifamily 75,713 76,945
10 Nonfarm, nonresidential 556,382 569,801
11 Farm 33,717 33,919
12 Savings institutions(3) 701,992 721,488
13 One- to four-family 578,641 595,472
14 Multifamily 59,142 60,044
15 Nonfarm, nonresidential 63,691 65,441
16 Farm 518 531
17 Life insurance companies 232,270 233,491
18 One- to four-family 5,949 5,999
19 Multifamily 33,037 33,206
20 Nonfarm, nonresidential 180,243 181,167
21 Farm 13,041 13,119
22 Federal and related agencies 332,868 336,871
23 Government National Mortgage Association 7 6
24 One- to four-family 7 6
25 Multifamily 0 0
26 Farmers Home Administration(4) 72,896 73,009
27 One- to four-family 16,435 16,444
28 Multifamily 11,729 11,734
29 Nonfarm, nonresidential 40,554 40,665
30 Farm 4,179 4,167
31 Federal Housing and Veterans'
Administrations 3,845 3,395
32 One- to four-family 1,832 1,327
33 Multifamily 2,013 2,068
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 72 82
40 One- to four-family 12 13
41 Multifamily 14 16
42 Nonfarm, nonresidential 46 53
43 Farm 0 0
44 Federal National Mortgage Association 153,507 153,114
45 One- to four-family 142,478 141,786
46 Multifamily 11,029 11,328
47 Federal Land Banks 34,830 35,549
48 One- to four-family 2,049 2,092
49 Farm 0 0
50 Federal Home Loan Mortgage Corporation 56,972 57,046
51 One- to four-family 42,892 42,138
52 Multifamily 14,080 14,908
53 Mortgage pools or trusts(5) 3,034,134 3,112,824
54 Government National Mortgage Association 590,830 602,794
55 One- to four-family 572,783 584,318
56 Multifamily 18,047 18,476
57 Federal Home Loan Mortgage Corporation 768,641 790,891
58 One- to four-family 763,890 786,007
59 Multifamily 4,751 4,884
60 Federal National Mortgage Association 995,815 1,020,828
61 One- to four-family 957,584 981,206
62 Multifamily 38,231 39,622
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 678,848 698,311
69 One- to four-family(6) 464,593 477,899
70 Multifamily 44,290 44,513
71 Nonfarm, nonresidential 169,965 175,899
72 Farm 0 0
73 Individuals and others(7) 735,636 749,818
74 One- to four-family 469,801 487,534
75 Multifamily 80,219 81,808
76 Nonfarm, nonresidential 163,806 158,437
77 Farm 21,811 22,039
(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(r)
Seasonally adjusted
1 Total 1,301,023 1,393,657 1,533,800
2 Revolving 560,504 595,610 663,000
3 Nonrevolving(2) 740,519 798,047 870,800
Not seasonally adjusted
4 Total 1,331,742 1,426,151 1,568,800
By major holder
5 Commercial banks 508,932 499,758 543,700
6 Finance companies 168,491 181,573 193,200
7 Credit unions 155,406 167,921 185,300
8 Savings institutions 51,611 61,527 64,000
9 Nonfinancial business 74,877 80,311 82,700
10 Pools of securitized
assets(3) 372,425 4,35,061 500,000
By major type of credit(4)
11 Revolving 586,528 623,245 692,800
12 Commercial banks 210,346 189,352 218,100
13 Finance companies 32,309 33,814 38,251
14 Credit unions 19,930 20,641 21,759
15 Savings institutions 12,450 15,838 16,556
16 Nonfinancial business 39,166 42,783 42,430
17 Pools of securitized
assets(3) 272,327 320,817 355,762
18 Nonrevolving 745,214 802,906 875,985
19 Commercial banks 298,586 310,406 325,648
20 Finance companies 136,182 147,759 154,938
21 Credit unions 135,476 147,280 163,493
22 Savings institutions 39,161 45,689 47,452
23 Nonfinancial business 35,711 37,528 40,244
24 Pools of securitized
assets(3) 100,098 114,244 144,209
2000
Holder and type of credit
Aug. Sept. Oct.
Seasonally adjusted
1 Total 1,484,081 1,492,934 1,509,568
2 Revolving 645,121 649,297 656,666
3 Nonrevolving(2) 838,961 843,637 852,902
Not seasonally adjusted
4 Total 1,486,048 1,495,627 1,513,688
By major holder
5 Commercial banks 520,431 521,767 521,515
6 Finance companies 196,555 197,276 200,815
7 Credit unions 180,679 181,597 183,010
8 Savings institutions 62,037 62,580 62,815
9 Nonfinancial business 73,030 72,091 70,842
10 Pools of securitized
assets(3) 453,316 460,316 474,691
By major type of credit(4)
11 Revolving 641,298 645,820 654,678
12 Commercial banks 204,016 202,362 201,874(r)
13 Finance companies 33,558 35,405 37,147
14 Credit unions 20,796 20,779(r) 20,804
15 Savings institutions 16,036 16,327 16,403(r)
16 Nonfinancial business 36,669 35,817 34,484
17 Pools of securitized
assets(3) 330,223 335,126 343,313
18 Nonrevolving 844,750 849,772(r) 861,838(r)
19 Commercial banks 316,415 319,423(r) 321,998(r)
20 Finance companies 162,997 161,871 163,700(r)
21 Credit unions 159,883 160,818(r) 162,359
22 Savings institutions 46,001 46,196(r) 46,615(r)
23 Nonfinancial business 36,361 36,274 36,308(r)
24 Pools of securitized
assets(3) 123,093 125,190 130,858
2000 2001
Holder and type of credit
Nov. Dec.(r) Jan.
Seasonally adjusted
1 Total 1,522,000 1,533,800 1,550,000
2 Revolving 662,800 663,000 680,900
3 Nonrevolving(2) 862,200 870,800 882,600
Not seasonally adjusted
4 Total 1,529,800 1,568,800 1,558,700
By major holder
5 Commercial banks 527,200 543,700 533,300
6 Finance companies 197,800 193,200 189,600
7 Credit unions 184,200 185,300 184,100
8 Savings institutions 63,100 64,000 64,100
9 Nonfinancial business 73,800 82,700 73,000
10 Pools of securitized
assets(3) 483,800 500,000 514,400
By major type of credit(4)
11 Revolving 664,300 692,800 681,700
12 Commercial banks 206,100 218,100 205,900
13 Finance companies 37,956(r) 38,251 38,074
14 Credit unions 21,276 21,759 21,313
15 Savings institutions 16,480(r) 16,556 16,775
16 Nonfinancial business 36,430 42,430 38,845
17 Pools of securitized
assets(3) 345,817 355,762 355,965
18 Nonrevolving 870,362(r) 875,985 879,988
19 Commercial banks 325,284(r) 325,648 329,723
20 Finance companies 159,803(r) 154,938 149,937
21 Credit unions 162,960 163,493 163,461
22 Savings institutions 47,034(r) 47,452 47,255
23 Nonfinancial business 37,347(r) 40,244 38,723
24 Pools of securitized
assets(3) 137,934 144,209 150,889
(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 carded on the balance sheets of
the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT(1)
Percent per year except as noted
2000
Item 1998(r) 1999(r) 2000(r)
July
INTEREST RATES
Commercial banks(2)
1 48-month new car 8.72 8.44 9.34 n.a.
2 24-month personal 13.74 13.39 13.90 n.a.
Credit card plan
3 All accounts 15.71 15.21 15.71 n.a.
4 Accounts assessed interest 15.59 14.81 14.91 n.a.
Auto finance companies
5 New car 6.30 6.66 6.61 6.55
6 Used car 12.64 12.60 13.55 13.64
OTHER TERMS(3)
Maturity (months)
7 New car 52.1 52.7 54.9 55.6
8 Used car 53.5 55.9 57.0 57.2
Loan-to-value ratio
9 New car 92 92 92 92
10 Used car 99 99 99 100
Amount financed (dollars)
11 New car 19,083 19,880 20,923 20,406
12 Used car 12,691 13,642 14,058 14,269
2000
Item
Aug. Sept. Oct.
INTEREST RATES
Commercial banks(2)
1 48-month new car 9.62 n.a. n.a.
2 24-month personal 13.85 n.a. n.a.
Credit card plan
3 All accounts 15.98 n.a. n.a.
4 Accounts assessed interest 15.35 n.a. n.a.
Auto finance companies
5 New car 7.46 7.16 4.74
6 Used car 13.70 13.91 13.87
OTHER TERMS(3)
Maturity (months)
7 New car 55.7 55.9 57.6
8 Used car 57.2 57.0 57.0
Loan-to-value ratio
9 New car 92 91 93
10 Used car 100 100 100
Amount financed (dollars)
11 New car 20,664 21,010 22,069
12 Used car 14,166 13,950 13,978
2000 2001
Item
Nov. Dec. Jan.
INTEREST RATES
Commercial banks(2)
1 48-month new car 9.63 n.a. n.a.
2 24-month personal 14.12 n.a. n.a.
Credit card plan
3 All accounts 15.99 n.a. n.a.
4 Accounts assessed interest 15.23 n.a. n.a.
Auto finance companies
5 New car 5.41 7.45 7.29
6 Used car 13.66(r) 13.58(r) 13.11
OTHER TERMS(3)
Maturity (months)
7 New car 57.3 55.2 54.3
8 Used car 56.8 56.6 57.8
Loan-to-value ratio
9 New car 93 91 90
10 Used car 100 100 98
Amount financed (dollars)
11 New car 22,443 21,867 21,315
12 Used car 14,325 14,591 14,155
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals. Data in this table
also appear in the Board's G.19 (421) monthly statistical release.
For ordering address, see inside front cover.
(2.) Data are available for only the second month of each quarter.
(3.) At auto finance companies.
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS(1)
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector 1995 1996 1997
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sectors 711.1 731.3 804.6
By sector and instrument
2 Federal government 144.4 145.0 23.1
3 Treasury securities 142.9 146.6 23.2
4 Budget agency securities and
mortgages 1.5 -1.6 -.1
5 Nonfederal 566.7 586.3 781.5
By instrument
6 Commercial paper 18.1 -.9 13.7
7 Municipal securities and loans -48.2 2.6 71.4
8 Corporate bonds 91.1 116.3 150.5
9 Bank loans n.e.c. 103.7 70.5 106.5
10 Other loans and advances 67.2 33.5 69.1
11 Mortgages 195.8 275.7 317.7
12 Home 181.0 242.1 252.3
13 Multifamily residential 6.1 9.0 8.2
14 Commercial 7.1 22.0 54.1
15 Farm 1.6 2.6 3.2
16 Consumer credit 138.9 88.8 52.5
By borrowing sector
17 Household 363.5 357.8 337.1
18 Nonfinancial business 254.7 235.3 388.2
19 Corporate 227.5 149.1 266.5
20 Nonfarm noncorporate 24.3 81.4 115.6
21 Farm 2.9 4.8 6.2
22 State and local government -51.5 -6.8 56.1
23 Foreign net borrowing in United States 78.5 88.4 71.8
24 Commercial paper 13.5 11.3 3.7
25 Bonds 57.1 67.0 61.4
26 Bankloans n.e.c. 8.5 9.1 8.5
27 Other loans and advances -0.5 1.0 -1.8
28 Total domestic plus foreign 789.6 819.7 876.3
Financial sectors
29 Total net borrowing by financial
sectors 454.0 545.7 653.8
By instrument
30 Federal government-related 204.2 231.4 212.9
31 Government-sponsored enterprise
securities 105.9 90.4 98.4
32 Mortgage pool securities 98.3 141.0 114.6
33 Loans from U.S. government .0 .0 .0
34 Private 249.8 314.4 440.9
35 Open market paler 42.7 92.2 166.7
36 Corporate bonds 195.9 173.8 210.5
37 Bank loans n.e.c. 2.5 12.6 13.2
38 Other loans and advances 3.4 27.9 35.6
39 Mortgages 5.3 7.9 14.9
By borrowing sector
40 Commercial banking 22.5 13.0 46.1
41 Saving institutions 26.0 25.5 19.7
42 Credit unions -.1 .1 .1
43 Life insurance companies -.1 1.1 .2
44 Government-sponsored enterprises 105.9 90.4 98.4
45 Federally related mortgage pools 98.3 141.0 114.6
46 Issuers of asset-backed securities
(ABSs) 142.4 150.8 202.2
47 Finance companies 50.2 45.9 48.7
48 Mortgage companies -2.2 4.1 -4.6
49 Real estate investment mists (REITs) 4.5 11.9 39.6
50 Brokers and dealers -5.0 -2.0 8.1
51 Funding corporations 34.9 64.1 80.7
All sectors
52 Total net borrowing, all sectors 1,243.7 1,365.4 1,530.1
53 Open market paper 74.3 102.6 184.1
54 U.S. government securities 348.6 376.4 236.0
55 Municipal securities -48.2 2.6 71.4
56 Corporate and foreign bonds 344.1 357.0 422.4
57 Bank loans n.e.c. 114.7 92.1 128.2
58 Other loans and advances 70.1 62.5 102.8
59 Mortgages 201.1 283.5 332.6
60 Consumer credit 138.9 88.8 52.5
Funds raised through mutual
funds and corporate
equities
61 Total net issues 131.5 231.9 181.2
62 Corporate equities -16.0 -5.7 -83.9
63 Nonfinancial corporations -58.3 -69.5 -114.4
64 Foreign shares purchased by U.S.
residents 50.4 82.8 57.6
65 Financial corporations -8.1 -19.0 -27.1
66 Mutual fund shares 147.4 237.6 265.1
1999
Transaction category or sector 1998 1999
Q2
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sectors 1,044.6 1121.5 939.8
By sector and instrument
2 Federal government -52.6 -71.2 -98.5
3 Treasury securities -54.6 -71.0 -99.1
4 Budget agency securities and
mortgages 2.0 -.2 .6
5 Nonfederal 1,097.2 1,192.7 1,038.3
By instrument
6 Commercial paper 24.4 37.4 -2.6
7 Municipal securities and loans 96.8 68.2 56.8
8 Corporate bonds 218.7 229.9 287.6
9 Bank loans n.e.c. 108.2 82.7 24.0
10 Other loans and advances 74.3 71.2 2.3
11 Mortgages 507.2 608.9 608.9
12 Home 386.8 432.0 440.2
13 Multifamily residential 20.8 40.2 33.0
14 Commercial 93.4 131.2 126.7
15 Farm 6.2 5.5 9.0
16 Consumer credit 67.6 94.4 61.4
By borrowing sector
17 Household 479.1 538.2 512.9
18 Nonfinancial business 537.8 602.1 481.8
19 Corporate 418.1 481.6 372.8
20 Nonfarm noncorporate 112.0 115.3 107.2
21 Farm 7.7 5.2 1.7
22 State and local government 80.3 52.3 43.6
23 Foreign net borrowing in United States 43.3 25.3 -24.5
24 Commercial paper 7.8 16.3 -27.5
25 Bonds 34.8 14.2 0.2
26 Bankloans n.e.c. 6.7 0.5 5.6
27 Other loans and advances -6.0 -5.7 -2.8
28 Total domestic plus foreign 1,087.9 1,146.8 915.3
Financial sectors
29 Total net borrowing by financial
sectors 1,073.9 1,087.9 995.3
By instrument
30 Federal government-related 470.9 592.0 576.6
31 Government-sponsored enterprise
securities 278.3 318.2 304.7
32 Mortgage pool securities 192.6 273.8 271.9
33 Loans from U.S. government .0 .0 .0
34 Private 603.0 495.9 418.8
35 Open market paler 161.0 176.2 57.3
36 Corporate bonds 296.9 221.8 254.8
37 Bank loans n.e.c. 30.1 -14.3 11.0
38 Other loans and advances 90.2 107.1 107.9
39 Mortgages 24.8 5.1 -12.3
By borrowing sector
40 Commercial banking 72.9 67.2 61.5
41 Saving institutions 52.2 48.0 59.2
42 Credit unions .6 2.2 1.4
43 Life insurance companies .7 .7 3.0
44 Government-sponsored enterprises 278.3 318.2 304.7
45 Federally related mortgage pools 192.6 273.8 271.9
46 Issuers of asset-backed securities
(ABSs) 321.4 234.0 301.5
47 Finance companies 43.0 62.4 90.5
48 Mortgage companies 1.6 .2 5.1
49 Real estate investment mists (REITs) 62.7 6.3 -19.7
50 Brokers and dealers 7.2 -17.2 -18.3
51 Funding corporations 40.7 92.2 -65.3
All sectors
52 Total net borrowing, all sectors 2,161.8 2,234.6 1,910.7
53 Open market paper 193.1 229.9 27.2
54 U.S. government securities 418.3 520.7 478.1
55 Municipal securities 96.8 68.2 56.8
56 Corporate and foreign bonds 550.4 465.9 542.6
57 Bank loans n.e.c. 145.0 68.9 40.6
58 Other loans and advances 158.5 172.6 107.5
59 Mortgages 532.0 614.0 596.6
60 Consumer credit 67.6 94.4 61.4
Funds raised through mutual
funds and corporate
equities
61 Total net issues 100.0 156.5 173.1
62 Corporate equities -174.6 -31.8 -39.3
63 Nonfinancial corporations -267.0 -143.5 -338.4
64 Foreign shares purchased by U.S.
residents 101.2 114.4 284.4
65 Financial corporations -8.9 -2.8 14.7
66 Mutual fund shares 274.6 188.3 212.4
1999 2000
Transaction category or sector
Q3 Q4 Q1
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sectors 1,178.0 1,089.5 924.0
By sector and instrument
2 Federal government -68.9 -34.0 -215.5
3 Treasury securities -68.9 -34.0 -213.5
4 Budget agency securities and
mortgages .0 .0 -2.1
5 Nonfederal 1,247.0 1,123.5 1,139.6
By instrument
6 Commercial paper 49.8 44.0 29.8
7 Municipal securities and loans 71.3 52.5 8.9
8 Corporate bonds 202.8 155.2 186.2
9 Bank loans n.e.c. 112.3 108.6 131.9
10 Other loans and advances 79.2 55.4 153.3
11 Mortgages 655.4 598.3 484.9
12 Home 479.4 397.1 344.1
13 Multifamily residential 41.3 50.9 29.5
14 Commercial 127.6 147.9 104.4
15 Farm 7.0 2.5 6.9
16 Consumer credit 76.2 109.5 144.6
By borrowing sector
17 Household 580.6 498.0 523.0
18 Nonfinancial business 613.9 591.9 612.8
19 Corporate 473.8 453.6 481.3
20 Nonfarm noncorporate 131.6 132.7 116.5
21 Farm 8.5 5.6 15.0
22 State and local government 52.5 33.6 3.8
23 Foreign net borrowing in United States 77.3 17.6 118.0
24 Commercial paper 41.1 33.6 57.8
25 Bonds 44.0 -2.7 45.7
26 Bankloans n.e.c. -6.6 2.3 15.4
27 Other loans and advances -1.1 -15.5 -0.9
28 Total domestic plus foreign 1,255.4 1,107.1 1,042.0
Financial sectors
29 Total net borrowing by financial
sectors 1,064.2 1,063.2 617.7
By instrument
30 Federal government-related 651.6 550.1 248.6
31 Government-sponsored enterprise
securities 407.1 367.9 104.9
32 Mortgage pool securities 244.5 182.2 143.7
33 Loans from U.S. government .0 .0 .0
34 Private 412.6 513.0 369.2
35 Open market paler 89.9 479.0 130.9
36 Corporate bonds 179.5 -21.0 166.5
37 Bank loans n.e.c. -5.9 -55.6 .3
38 Other loans and advances 139.8 107.5 64.4
39 Mortgages 9.4 3.2 7.0
By borrowing sector
40 Commercial banking 107.0 54.1 72.4
41 Saving institutions 51.9 5.8 40.6
42 Credit unions 2.8 3.3 -2.9
43 Life insurance companies 1.1 -4.4 -.7
44 Government-sponsored enterprises 407.1 367.9 104.9
45 Federally related mortgage pools 244.5 182.2 143.7
46 Issuers of asset-backed securities
(ABSs) 220.5 124.2 166.0
47 Finance companies -17.2 99.2 52.3
48 Mortgage companies -6.1 6.2 -3.0
49 Real estate investment mists (REITs) 7.9 11.3 11.5
50 Brokers and dealers 17.8 -37.3 44.4
51 Funding corporations 27.0 250.6 -11.4
All sectors
52 Total net borrowing, all sectors 2,319.6 2,170.3 1,659.8
53 Open market paper 180.7 556.6 218.4
54 U.S. government securities 582.7 516.1 33.0
55 Municipal securities 71.3 52.5 8.9
56 Corporate and foreign bonds 426.3 131.5 398.4
57 Bank loans n.e.c. 99.8 55.2 147.7
58 Other loans and advances 217.9 147.3 216.9
59 Mortgages 664.8 601.5 491.9
60 Consumer credit 76.2 109.5 144.6
Funds raised through mutual
funds and corporate
equities
61 Total net issues 124.5 172.9 410.7
62 Corporate equities -3.0 .1 104.6
63 Nonfinancial corporations -128.4 -55.0 62.8
64 Foreign shares purchased by U.S.
residents 121.7 71.3 63.3
65 Financial corporations 3.7 -16.2 -21.4
66 Mutual fund shares 127.5 172.8 306.1
2000
Transaction category or sector
Q2 Q3 Q4
Nonfinancial sectors
1 Total net borrowing by domestic
nonfinancial sectors 971.5 779.9 835.7
By sector and instrument
2 Federal government -414.0 -219.5 -334.5
3 Treasury securities -415.8 -217.1 -333.3
4 Budget agency securities and
mortgages 1.8 -2.4 -1.2
5 Nonfederal 1,385.4 999.4 1,170.2
By instrument
6 Commercial paper 110.4 56.1 -4.0
7 Municipal securities and loans 34.0 29.8 68.6
8 Corporate bonds 153.8 184.4 175.6
9 Bank loans n.e.c. 163.1 31.8 84.2
10 Other loans and advances 124.4 -2.5 141.1
11 Mortgages 662.6 577.0 570.5
12 Home 489.4 429.6 414.1
13 Multifamily residential 44.7 31.3 36.6
14 Commercial 119.7 110.7 116.8
15 Farm 8.9 5.3 3.0
16 Consumer credit 137.2 122.9 134.2
By borrowing sector
17 Household 638.9 552.2 576.0
18 Nonfinancial business 725.7 423.5 533.9
19 Corporate 592.4 309.1 404.5
20 Nonfarm noncorporate 125.1 109.3 117.6
21 Farm 8.3 5.1 11.7
22 State and local government 20.8 23.6 60.3
23 Foreign net borrowing in United States -7.6 89.2 47.8
24 Commercial paper 12.0 7.0 50.1
25 Bonds -27.4 71.7 -15.3
26 Bankloans n.e.c. 5.7 11.9 12.2
27 Other loans and advances 2.0 -1.5 0.8
28 Total domestic plus foreign 963.9 869.0 883.5
Financial sectors
29 Total net borrowing by financial
sectors 817.5 733.2 1,079.0
By instrument
30 Federal government-related 370.9 503.5 607.9
31 Government-sponsored enterprise
securities 248.9 278.1 300.5
32 Mortgage pool securities 122.1 225.4 307.4
33 Loans from U.S. government .0 .0 .0
34 Private 446.6 229.7 471.1
35 Open market paler 77.4 65.2 237.5
36 Corporate bonds 230.7 195.9 220.9
37 Bank loans n.e.c. 5.4 -.7 -12.7
38 Other loans and advances 123.1 -36.7 19.1
39 Mortgages 10.0 6.0 6.4
By borrowing sector
40 Commercial banking 113.2 23.5 31.1
41 Saving institutions 59.1 -23.4 32.5
42 Credit unions .9 1.1 1.0
43 Life insurance companies -1.1 -.3 -.7
44 Government-sponsored enterprises 248.9 578.1 300.5
45 Federally related mortgage pools 122.1 225.4 307.4
46 Issuers of asset-backed securities
(ABSs) 154.8 155.6 298.8
47 Finance companies 103.9 96.9 46.8
48 Mortgage companies 2.7 -.3 1.0
49 Real estate investment mists (REITs) 9.8 -2.4 10.4
50 Brokers and dealers -.7 25.4 -6.7
51 Funding corporations 4.0 -46.4 56.9
All sectors
52 Total net borrowing, all sectors 1,781.4 1,602.2 1,962.6
53 Open market paper 199.8 128.4 283.6
54 U.S. government securities -43.0 284.0 273.4
55 Municipal securities 34.0 29.8 68.6
56 Corporate and foreign bonds 357.2 452.0 381.2
57 Bank loans n.e.c. 174.2 43.0 83.6
58 Other loans and advances 249.5 -40.7 161.0
59 Mortgages 672.6 583.0 576.9
60 Consumer credit 137.2 122.9 134.2
Funds raised through mutual
funds and corporate
equities
61 Total net issues 168.9 208.1 -105.7
62 Corporate equities -68.7 -51.7 -282.0
63 Nonfinancial corporations -248.8 -75.6 -350.8
64 Foreign shares purchased by U.S.
residents 180.1 50.0 71.5
65 Financial corporations -.1 -26.1 -2.8
66 Mutual fund shares 237.6 259.8 176.3
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables E2 through F.4. For ordering address, see
inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS(1)
Billions of dollars except as noted; quarterly data at seasonally
adjusted annual rates
Transaction category or sector 1995 1996 1997
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit markets 1,243.7 1,365.4 1,530.1
2 Domestic nonfederal nonfinancial
sectors -61.0 79.5 -13.7
3 Household 34.5 127.8 1.0
4 Nonfinancial corporate business -8.8 -10.2 -12.7
5 Nonfarm noncorporate business 4.7 -4.3 -2.1
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 1,031.2 878.7 1,227.5
10 Monetary authority 12.7 12.3 38.3
11 Commercial banking 265.9 187.5 324.3
12 US-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 US-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 33.6 37.3 63.8
23 Money market mutual funds 86.5 88.8 87.5
24 Mutual funds 52.5 48.9 80.9
25 Closed-end funds 10.5 4.7 -2.9
26 Government-sponsored enterprises 86.7 84.2 94.3
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 1,243.7 1,365.4 1,530.1
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 85.9 108.9
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 -16.0 -5.7 -83.9
46 Mutual fund shares 147.4 237.6 265.1
47 Trade payables 127.5 113.5 132.1
48 Security credit 26.7 52.4 111.0
49 Life insurance reserves 45.8 44.5 59.3
50 Pension fund reserves 158.7 148.1 201.2
51 Taxes payable 6.2 16.2 15.7
52 Investment in bank personal trusts 6.4 -5.3 -49.9
53 Noncorporate proprietors' equity 34.6 -3.4 -46.0
54 Miscellaneous 505.4 532.1 487.5
55 Total financial sources 2,744.3 2,937.2 3,249.7
Liabilities not identified as
assets (-)
56 Treasury currency -.3 -.4 -.2
57 Foreign deposits 25.1 59.6 107.4
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 -166.0 -82.8 -84.7
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 14.1 -21.9 -28.5
65 Total identified to sectors as assets 2,837.6 2,964.2 3,190.9
1999
Transaction category or sector 1998 1999
Q2
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit markets 2,161.8 2,234.6 1,910.7
2 Domestic nonfederal nonfinancial
sectors 132.3 264.5 360.2
3 Household -16.2 200.5 279.4
4 Nonfinancial corporate business 14.0 19.1 -1.4
5 Nonfarm noncorporate business .1 1.5 1.2
6 State and local governments 134.5 43.4 81.0
7 Federal government 13.5 5.8 6.7
8 Rest of the world 254.2 210.6 61.6
9 Financial sectors 1,761.7 1,753.7 1,482.1
10 Monetary authority 21.1 25.7 59.8
11 Commercial banking 305.2 308.2 166.6
12 US-chartered banks 312.0 317.6 259.4
13 Foreign banking offices in
United States -11.9 -20.1 -102.5
14 Bank holding companies -.9 6.2 .4
15 Banks in US-affiliated areas 6.0 4.4 9.2
16 Savings institutions 36.3 68.7 85.3
17 Credit unions 19.0 27.5 32.7
18 Bank personal trusts and estates -12.8 27.8 27.8
19 Life insurance companies 76.9 53.5 68.2
20 Other insurance companies 20.4 -4.2 26.7
21 Private pension funds 56.4 45.0 68.7
22 State and local government
retirement funds 71.5 49.9 25.1
23 Money market mutual funds 244.0 182.0 -67.0
24 Mutual funds 124.8 47.2 117.2
25 Closed-end funds 4.5 3.1 3.1
26 Government-sponsored enterprises 261.7 235.5 251.7
27 Federally related mortgage pools 192.6 273.8 271.9
28 Asset-backed securities issuers
(ABSs) 281.7 215.8 284.8
29 Finance companies 51.9 94.9 88.1
30 Mortgage companies 3.2 .3 10.2
31 Real estate investment trusts
(REITs) -5.1 -2.6 -2.2
32 Brokers and dealers 6.8 -34.7 -135.9
33 Funding corporations 1.6 136.3 99.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,161.8 2,234.6 1,910.7
Other financial sources
35 Official foreign exchange 6.6 -8.7 -5.4
36 Special drawing rights certificates .0 -3.0 .0
37 Treasury currency .6 1.0 2.1
38 Foreign deposits 2.0 86.5 110.1
39 Net interbank transactions -32.3 17.6 93.4
40 Checkable deposits and currency 47.4 151.4 37.5
41 Small time and savings deposits 152.4 44.7 106.6
42 Large time deposits 92.1 130.6 42.4
43 Money market fund shares 287.2 249.1 115.3
44 Security repurchase agreements 91.3 169.7 -80.7
45 Corporate equities -174.6 -31.8 -39.3
46 Mutual fund shares 274.6 188.3 212.4
47 Trade payables 29.0 197.3 224.4
48 Security credit 103.3 104.3 128.2
49 Life insurance reserves 48.0 50.8 42.1
50 Pension fund reserves 202.5 187.7 199.0
51 Taxes payable 12.0 15.7 47.3
52 Investment in bank personal trusts -42.5 -7.1 -7.1
53 Noncorporate proprietors' equity -41.4 -8.0 23.8
54 Miscellaneous 841.6 749.1 1436.1
55 Total financial sources 4,061.4 4,519.7 4,598.8
Liabilities not identified as
assets (-)
56 Treasury currency -.1 -.7 .6
57 Foreign deposits -6.4 66.5 96.8
58 Net interbank liabilities 3.4 3.5 -4.8
59 Security repurchase agreements 61.3 30.1 .4
60 Taxes payable 13.9 3.2 25.0
61 Miscellaneous -56.4 -317.5 -101.4
Floats not included in assets (-)
62 Federal government checkable deposits 2.6 -7.4 -27.0
63 Other checkable deposits -3.1 -.8 -.9
64 Trade credit -40.1 54.0 -64.6
65 Total identified to sectors as assets 4,086.3 4,688.9 4,675.5
1999 2000
Transaction category or sector
Q3 Q4 Q1
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit markets 2,319.6 2,170.3 1,659.8
2 Domestic nonfederal nonfinancial
sectors 234.2 -8.8 -156.0
3 Household 242.8 9.7 -251.3
4 Nonfinancial corporate business 33.0 -22.3 90.4
5 Nonfarm noncorporate business .8 1.4 2.6
6 State and local governments -42.4 2.4 2.3
7 Federal government 11.2 -11.7 6.5
8 Rest of the world 385.3 138.7 325.9
9 Financial sectors 1,688.9 2,052.2 1,483.4
10 Monetary authority 20.6 -42.2 103.4
11 Commercial banking 449.4 548.7 377.1
12 US-chartered banks 421.9 457.7 409.2
13 Foreign banking offices in
United States 33.2 42.0 4.8
14 Bank holding companies -12.4 42.6 -42.2
15 Banks in US-affiliated areas 6.6 6.3 5.4
16 Savings institutions 58.1 20.2 50.2
17 Credit unions 27.5 18.8 35.6
18 Bank personal trusts and estates 27.8 27.8 18.9
19 Life insurance companies 36.8 30.7 57.2
20 Other insurance companies -14.4 -9.4 -14.0
21 Private pension funds 5.9 49.8 46.8
22 State and local government
retirement funds 40.0 58.2 55.3
23 Money market mutual funds 224.8 354.5 208.8
24 Mutual funds -13.0 -12.7 -77.8
25 Closed-end funds 3.1 3.1 3.1
26 Government-sponsored enterprises 275.9 225.3 139.2
27 Federally related mortgage pools 244.5 182.2 143.7
28 Asset-backed securities issuers
(ABSs) 212.0 94.4 145.3
29 Finance companies 91.7 114.4 132.9
30 Mortgage companies -12.1 12.3 -6.0
31 Real estate investment trusts
(REITs) -2.7 -7.0 -16.3
32 Brokers and dealers -6.7 -30.5 122.5
33 Funding corporations 19.7 413.6 -42.6
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,319.6 2,170.3 1,659.8
Other financial sources
35 Official foreign exchange -8.5 -7.0 1.5
36 Special drawing rights certificates -4.0 -4.0 .0
37 Treasury currency 2.0 .0 2.2
38 Foreign deposits 69.4 52.7 258.5
39 Net interbank transactions -30.8 -40.7 -71.1
40 Checkable deposits and currency 139.3 365.2 -219.1
41 Small time and savings deposits 119.1 28.0 104.3
42 Large time deposits 102.7 359.4 149.2
43 Money market fund shares 174.3 485.5 241.0
44 Security repurchase agreements 191.4 310.5 284.1
45 Corporate equities -3.0 .1 104.6
46 Mutual fund shares 127.5 172.8 306.1
47 Trade payables 243.6 199.5 228.2
48 Security credit 29.7 321.3 523.4
49 Life insurance reserves 48.1 57.6 49.8
50 Pension fund reserves 191.6 177.3 217.6
51 Taxes payable .4 16.8 22.5
52 Investment in bank personal trusts -7.2 -6.9 -5.9
53 Noncorporate proprietors' equity -56.5 10.2 -13.4
54 Miscellaneous 534.8 584.9 701.5
55 Total financial sources 4,183.4 5,253.8 4,544.7
Liabilities not identified as
assets (-)
56 Treasury currency .2 -2.2 -1.8
57 Foreign deposits 27.3 92.5 209.4
58 Net interbank liabilities -7.0 -23.7 24.4
59 Security repurchase agreements 133.2 -225.9 561.2
60 Taxes payable 3.0 -6.4 7.7
61 Miscellaneous -489.7 -157.6 -340.6
Floats not included in assets (-)
62 Federal government checkable deposits 8.6 -9.2 28.7
63 Other checkable deposits -.3 .0 .6
64 Trade credit 73.1 161.7 -2.9
65 Total identified to sectors as assets 4,434.9 5,424.6 4,058.0
2000
Transaction category or sector
Q2 Q3 Q4
NET LENDING IN CREDIT MARKETS(2)
1 Total net lending in credit markets 1,781.4 1,602.2 1,962.6
2 Domestic nonfederal nonfinancial
sectors 151.0 -178.1 -212.4
3 Household 84.3 -186.6 -219.4
4 Nonfinancial corporate business 22.6 3.7 -29.4
5 Nonfarm noncorporate business 2.8 3.8 4.3
6 State and local governments 41.4 1.0 32.1
7 Federal government 7.7 4.5 15.0
8 Rest of the world 207.1 195.0 390.9
9 Financial sectors 1,415.6 1,580.8 1,769.1
10 Monetary authority -3.9 27.3 7.9
11 Commercial banking 484.6 369.3 206.1
12 US-chartered banks 505.6 332.8 113.9
13 Foreign banking offices in
United States -29.9 30.9 90.4
14 Bank holding companies 3.5 -6.7 -3.3
15 Banks in US-affiliated areas 5.4 12.3 5.1
16 Savings institutions 73.0 56.5 43.0
17 Credit unions 36.6 28.5 25.4
18 Bank personal trusts and estates 13.8 17.6 18.1
19 Life insurance companies 52.0 85.9 79.7
20 Other insurance companies -18.1 6.0 6.3
21 Private pension funds 24.7 68.9 21.4
22 State and local government
retirement funds 20.7 -32.1 8.5
23 Money market mutual funds -156.2 244.9 299.4
24 Mutual funds 63.7 46.3 72.2
25 Closed-end funds 3.1 3.1 3.1
26 Government-sponsored enterprises 222.5 158.9 264.5
27 Federally related mortgage pools 122.1 225.4 307.4
28 Asset-backed securities issuers
(ABSs) 120.3 120.4 269.9
29 Finance companies 138.9 81.4 43.4
30 Mortgage companies 5.5 -.5 2.0
31 Real estate investment trusts
(REITs) -2.5 -3.6 -5.4
32 Brokers and dealers 38.1 176.8 -52.9
33 Funding corporations 176.8 -100.2 149.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,781.4 1,602.2 1,962.6
Other financial sources
35 Official foreign exchange -8.8 .7 8.7
36 Special drawing rights certificates -8.0 -4.0 -4.0
37 Treasury currency 3.2 4.2 .0
38 Foreign deposits 8.5 -89.2 -80.0
39 Net interbank transactions 177.7 -61.3 -84.6
40 Checkable deposits and currency -65.0 49.2 -49.4
41 Small time and savings deposits 130.3 238.5 298.8
42 Large time deposits 108.4 141.5 64.9
43 Money market fund shares 48.2 241.9 402.8
44 Security repurchase agreements 130.4 238.2 -200.6
45 Corporate equities -68.7 -51.7 -282.0
46 Mutual fund shares 237.6 259.8 176.3
47 Trade payables 124.8 132.6 100.5
48 Security credit -99.8 104.1 14.4
49 Life insurance reserves 59.7 51.7 55.6
50 Pension fund reserves 220.4 196.2 129.3
51 Taxes payable 31.6 -6.0 19.3
52 Investment in bank personal trusts -10.6 -6.6 -5.5
53 Noncorporate proprietors' equity -2.4 39.9 -18.2
54 Miscellaneous 1,105.4 1.189.7 1,063.7
55 Total financial sources 3,904.2 4,271.5 3,572.7
Liabilities not identified as
assets (-)
56 Treasury currency -.7 .9 -1.6
57 Foreign deposits -65.7 -111.7 -132.1
58 Net interbank liabilities -4.3 -18.3 68.5
59 Security repurchase agreements 27.6 119.3 -249.6
60 Taxes payable 7.4 -15.4 -9.9
61 Miscellaneous -267.1 -38.6 21.7
Floats not included in assets (-)
62 Federal government checkable deposits -2.6 -2.0 13.7
63 Other checkable deposits 1.5 1.9 2.7
64 Trade credit -38.3 -41.4 32.2
65 Total identified to sectors as assets 4,246.5 4,376.7 3,827.0
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.1 and F.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING(1)
Billions of dollars, end of period
Transaction category or sector 1996 1997 1998
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 14,443.7 15,246.8 16,291.4
By sector and instrument
2 Federal government 3,781.8 3,804.9 3,752.2
3 Treasury securities 3,755.1 3,778.3 3,723.7
4 Budget agency securities and
mortgages 26.6 26.5 28.5
5 Nonfederal 10,662.0 11,441.9 12,539.1
By instrument
6 Commercial paper 156.4 168.6 193.0
7 Municipal securities and loans 1,296.0 1,367.5 1,464.3
8 Corporate bonds 1,460.4 1,610.9 1,829.6
9 Bank loans n.e.c. 934.1 1,040.5 1,148.8
10 Other loans and advances 770.4 839.5 913.8
11 Mortgages 4,833.1 5,150.8 5,658.0
12 Home 3,719.0 3,971.3 4,358.1
13 Multifamily residential 278.4 286.6 307.4
14 Commercial 748.6 802.6 896.0
15 Farm 87.1 90.3 96.5
16 Consumer credit 1,211.6 1,264.1 1,331.7
By borrowing sector
17 Household 5,222.5 5,559.9 6,039.0
18 Nonfinancial business 4,376.1 4,762.5 5,300.3
19 Corporate 3,095.3 3,359.9 3,778.0
20 Nonfarm noncorporate 1, 130.9 1,246.5 1,358.4
21 Farm 149.9 156.1 163.8
22 State and local government 1,063.4 1,119.5 1,199.8
23 Foreign credit market debt held in
United States 542.2 608.0 651.4
24 Commercial paper 67.5 65.1 72.9
25 Bonds 366.3 427.7 462.5
26 Bank loans n.e.c. 43.7 52.1 58.9
27 Other loans and advances 64.7 63.0 57.2
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 14,985.9 15,854.7 16,942.8
Financial sectors
29 Total credit market debt owned by
financial sectors 4,824.5 5,445.2 6,519.1
By instrument
30 Federal government-related 2,608.2 2,821.1 3,292.0
31 Government-sponsored enterprise
securities 896.9 995.3 1,273.6
32 Mortgage pool securities 1,711.3 1,825.8 2,018.4
33 Loans from U.S. government .0 .0 .0
34 Private 2,216.3 2,624.1 3,227.1
35 Open market paper 579.1 745.7 906.7
36 Corporate bonds 1,378.4 1,555.9 1,852.8
37 Bank loans n.e.c. 64.0 77.2 107.2
38 Other loans and advances 162.9 198.5 288.7
39 Mortgages 31.9 46.8 71.6
By borrowing sector
40 Commercial banks 113.6 140.6 188.6
41 Bank holding companies 150.0 168.6 193.5
42 Savings institutions 140.5 160.3 212.4
43 Credit unions 4.0 0.6 1.1
44 Life insurance companies 1.6 1.8 2.5
45 Government-sponsored enterprises 896.9 995.3 1,273.6
46 Federally related mortgage pools 1,711.3 1,825.8 2,018.4
47 Issuers of asset-backed securities
(ABSs) 863.3 1,076.6 1,398.0
48 Brokers and dealers 27.3 35.3 42.5
49 Finance companies 529.8 554.5 597.5
50 Mortgage companies 20.6 16.0 17.7
51 Real estate investment trusts
(REITs) 56.5 96.1 158.8
52 Funding corporations 312.7 373.7 414.4
All sectors
53 Total credit market debt, domestic
and foreign 19,810.4 21,300.0 23,461.9
54 Open market paper 803.0 979.4 1,172.6
55 U.S. government securities 6,389.9 6,626.0 7,044.3
56 Municipal securities 1,296.0 1,367.5 1,464.3
57 Corporate and foreign bonds 3,205.1 3,594.5 4,144.9
58 Bank loans n.e.c. 1,041.7 1,169.8 1,314.9
59 Other loans and advances 998.0 1,101.0 1,259.6
60 Mortgages 4,865.1 5,197.7 5,729.6
61 Consumer credit 1,211.6 1,264.1 1,331.7
1999
Transaction category or sector 1999
Q2 Q3
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 17,447.5 16,786.7 17,109.0
By sector and instrument
2 Federal government 3,681.0 3,651.7 3,633.4
3 Treasury securities 3,652.8 3,623.4 3,605.1
4 Budget agency securities and
mortgages 28.3 28.3 28.3
5 Nonfederal 13,766.5 13,135.0 13,475.6
By instrument
6 Commercial paper 230.3 232.4 239.3
7 Municipal securities and loans 1,532.5 1,510.0 1,518.6
8 Corporate bonds 2,059.5 1,970.0 2,020.7
9 Bank loans n.e.c. 1,231.5 1,178.5 1,202.9
10 Other loans and advances 985.3 956.0 969.8
11 Mortgages 6,301.3 5,947.8 6,154.2
12 Home 4,790.1 4,563.8 4,693.3
13 Multifamily residential 347.8 324.8 335.1
14 Commercial 1,061.4 959.6 1,024.4
15 Farm 102.0 99.6 101.4
16 Consumer credit 1,426.2 1,340.4 1,370.1
By borrowing sector
17 Household 6,577.5 6,260.7 6,424.7
18 Nonfinancial business 5,936.8 5,636.0 5,808.5
19 Corporate 4,294.0 4,062.0 4,199.7
20 Nonfarm noncorporate 1,473.8 1,408.0 1,440.2
21 Farm 169.0 166.1 168.6
22 State and local government 1,252.1 1,238.2 1,242.4
23 Foreign credit market debt held in
United States 676.9 652.7 672.9
24 Commercial paper 89.2 70.1 81.8
25 Bonds 476.7 466.4 477.4
26 Bank loans n.e.c. 59.4 60.5 58.8
27 Other loans and advances 51.7 55.8 55.0
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 18,124.4 17,439.4 17,781.9
Financial sectors
29 Total credit market debt owned by
financial sectors 7,607.0 7,073.3 7,346.8
By instrument
30 Federal government-related 3,884.0 3,580.7 3,745.9
31 Government-sponsored enterprise
securities 1,591.7 1,398.0 1,499.8
32 Mortgage pool securities 2,292.2 2,182.7 2,246.1
33 Loans from U.S. government .0 .0 .0
34 Private 3,723.0 3,492.6 3,601.0
35 Open market paper 1,082.9 940.9 963.4
36 Corporate bonds 2,074.6 2,042.8 2,091.1
37 Bank loans n.e.c. 92.9 106.8 105.2
38 Other loans and advances 395.8 328.6 365.4
39 Mortgages 76.7 73.6 75.9
By borrowing sector
40 Commercial banks 230.0 202.7 224.2
41 Bank holding companies 219.3 205.5 211.8
42 Savings institutions 260.4 241.6 255.4
43 Credit unions 3.4 1.8 2.5
44 Life insurance companies 3.2 4.0 4.3
45 Government-sponsored enterprises 1,591.7 1,398.0 1,499.8
46 Federally related mortgage pools 2,292.2 2,182.7 2,246.1
47 Issuers of asset-backed securities
(ABSs) 1,632.0 1,539.9 1,599.1
48 Brokers and dealers 25.3 30.2 34.6
49 Finance companies 659.9 639.2 628.5
50 Mortgage companies 17.8 17.8 16.3
51 Real estate investment trusts
(REITs) 165.1 160.3 162.2
52 Funding corporations 506.6 449.7 462.0
All sectors
53 Total credit market debt, domestic
and foreign 25,731.4 24,512.7 25,128.7
54 Open market paper 1,402.4 1,243.3 1,284.5
55 U.S. government securities 7,565.0 7,232.4 7,379.2
56 Municipal securities 1,532.5 1,510.0 1,518.6
57 Corporate and foreign bonds 4,610.8 4,479.2 4,589.1
58 Bank loans n.e.c. 1,383.8 1,345.7 1,366.9
59 Other loans and advances 1,432.7 1,340.3 1,390.1
60 Mortgages 6,378.0 6,021.4 6,230.1
61 Consumer credit 1,426.2 1,340.4 1,370.1
1999 2000
Transaction category or sector
Q4 Q1 Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 17,447.5 17,677.2 17,857.4
By sector and instrument
2 Federal government 3,681.0 3,653.5 3,464.0
3 Treasury securities 3,652.8 3,625.8 3,435.7
4 Budget agency securities and
mortgages 28.3 27.8 28.2
5 Nonfederal 13,766.5 14,023.7 14,393.5
By instrument
6 Commercial paper 230.3 260.8 296.8
7 Municipal securities and loans 1,532.5 1,539.2 1,551.6
8 Corporate bonds 2,059.5 2,106.0 2,144.5
9 Bank loans n.e.c. 1,231.5 1,259.1 1,307.2
10 Other loans and advances 985.3 1,030.2 1,059.0
11 Mortgages 6,301.3 6,412.4 6,580.4
12 Home 4,790.1 4,865.9 4,990.6
13 Multifamily residential 347.8 355.2 366.4
14 Commercial 1,061.4 1,087.5 1,117.4
15 Farm 102.0 103.7 106.0
16 Consumer credit 1,426.2 1,416.0 1,454.0
By borrowing sector
17 Household 6,577.5 6,647.5 6,816.7
18 Nonfinancial business 5,936.8 6,118.9 6,311.0
19 Corporate 4,294.0 4,445.5 4,601.2
20 Nonfarm noncorporate 1,473.8 1,503.2 1,534.5
21 Farm 169.0 170.2 175.4
22 State and local government 1,252.1 1,257.3 1,265.7
23 Foreign credit market debt held in
United States 676.9 704.6 699.3
24 Commercial paper 89.2 101.6 101.2
25 Bonds 476.7 488.1 481.3
26 Bank loans n.e.c. 59.4 63.3 64.7
27 Other loans and advances 51.7 51.7 52.1
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 18,124.4 18,381.8 18,556.7
Financial sectors
29 Total credit market debt owned by
financial sectors 7,607.0 7,744.3 7,964.4
By instrument
30 Federal government-related 3,884.0 3,940.1 4,035.5
31 Government-sponsored enterprise
securities 1,591.7 1,618.0 1,680.2
32 Mortgage pool securities 2,292.2 2,322.1 2,355.3
33 Loans from U.S. government .0 .0 .0
34 Private 3,723.0 3,804.2 3,928.9
35 Open market paper 1,082.9 1,115.7 1,135.2
36 Corporate bonds 2,074.6 2,114.2 2,183.2
37 Bank loans n.e.c. 92.9 91.4 92.7
38 Other loans and advances 395.8 404.4 436.9
39 Mortgages 76.7 78.5 81.0
By borrowing sector
40 Commercial banks 230.0 242.2 265.4
41 Bank holding companies 219.3 221.4 229.3
42 Savings institutions 260.4 266.9 280.7
43 Credit unions 3.4 2.6 2.9
44 Life insurance companies 3.2 3.0 2.7
45 Government-sponsored enterprises 1,591.7 1,618.0 1,680.2
46 Federally related mortgage pools 2,292.2 2,322.1 2,355.3
47 Issuers of asset-backed securities
(ABSs) 1,632.0 1,665.8 1,706.4
48 Brokers and dealers 25.3 36.4 36.2
49 Finance companies 659.9 670.7 699.2
50 Mortgage companies 17.8 17.1 17.8
51 Real estate investment trusts
(REITs) 165.1 167.9 170.4
52 Funding corporations 506.6 510.1 517.9
All sectors
53 Total credit market debt, domestic
and foreign 25,731.4 26,126.1 26,521.1
54 Open market paper 1,402.4 1,478.1 1,533.3
55 U.S. government securities 7,565.0 7,593.6 7,499.4
56 Municipal securities 1,532.5 1,539.2 1,551.6
57 Corporate and foreign bonds 4,610.8 4,708.3 4,808.9
58 Bank loans n.e.c. 1,383.8 1,413.7 1,464.6
59 Other loans and advances 1,432.7 1,486.3 1,548.0
60 Mortgages 6,378.0 6,490.8 6,661.3
61 Consumer credit 1,426.2 1,416.0 1,454.0
2000
Transaction category or sector
Q3 Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 18,064.0 18,344.3
By sector and instrument
2 Federal government 3,410.2 3,385.2
3 Treasury securities 3,382.6 3,357.8
4 Budget agency securities and
mortgages 27.6 27.3
5 Nonfederal 14,653.9 14,959.2
By instrument
6 Commercial paper 307.0 278.4
7 Municipal securities and loans 1,550.3 1,567.8
8 Corporate bonds 2,190.6 2,234.5
9 Bank loans n.e.c. 1,311.6 1,334.2
10 Other loans and advances 1,063.6 1,100.4
11 Mortgages 6,735.2 6,875.0
12 Home 5,108.6 5,209.4
13 Multifamily residential 374.2 383.3
14 Commercial 1,145.1 1,174.3
15 Farm 107.3 108.0
16 Consumer credit 1,495.6 1,568.8
By borrowing sector
17 Household 6,985.8 7,169.1
18 Nonfinancial business 6,405.0 6,510.8
19 Corporate 4,667.0 4,740.8
20 Nonfarm noncorporate 1,561.1 1,590.9
21 Farm 176.9 179.1
22 State and local government 1,263.1 1,279.3
23 Foreign credit market debt held in
United States 727.8 738.8
24 Commercial paper 109.8 120.9
25 Bonds 499.2 495.4
26 Bank loans n.e.c. 67.7 70.7
27 Other loans and advances 51.2 51.8
28 Total credit market debt owed by
nonfinancial sectors, domestic
and foreign 18,791.9 19,083.1
Financial sectors
29 Total credit market debt owned by
financial sectors 8,160.1 8,430.8
By instrument
30 Federal government-related 4,164.2 4,316.7
31 Government-sponsored enterprise
securities 1,749.7 1,824.8
32 Mortgage pool securities 2,414.5 2,491.9
33 Loans from U.S. government .0 .0
34 Private 3,995.9 4,114.1
35 Open market paper 1,151.6 1,210.7
36 Corporate bonds 2,239.3 2,290.1
37 Bank loans n.e.c. 92.5 91.0
38 Other loans and advances 430.2 438.3
39 Mortgages 82.5 84.1
By borrowing sector
40 Commercial banks 265.2 266.8
41 Bank holding companies 236.9 242.5
42 Savings institutions 276.0 287.7
43 Credit unions 3.1 3.4
44 Life insurance companies 2.7 2.5
45 Government-sponsored enterprises 1,749.7 1,824.8
46 Federally related mortgage pools 2,414.5 2,491.9
47 Issuers of asset-backed securities
(ABSs) 1,753.6 1,837.8
48 Brokers and dealers 42.6 40.9
49 Finance companies 716.5 734.8
50 Mortgage companies 17.7 17.9
51 Real estate investment trusts
(REITs) 169.8 172.4
52 Funding corporations 511.9 507.4
All sectors
53 Total credit market debt, domestic
and foreign 26,952.0 27,513.9
54 Open market paper 1,568.3 1,610.0
55 U.S. government securities 7,574.4 7,701.8
56 Municipal securities 1,550.3 1,567.8
57 Corporate and foreign bonds 4,929.0 5,019.9
58 Bank loans n.e.c. 1,471.7 1,495.9
59 Other loans and advances 1,545.0 1,590.5
60 Mortgages 6,817.7 6,959.1
61 Consumer credit 1,495.6 1,568.8
(1.) Data in this table also appear in the Board's Z.1 (780)
quarterly statistical release, tables L.2 through L.4. For ordering
address, see inside front cover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES(1)
Billions of dollars except as noted, end of period
Transaction category
or sector 1996 1997 1998 1999
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 19,810.4 21,300.0 23,461.9 25,731.4
2 Domestic nonfederal
nonfinancial
sectors 3,032.1 2,974.7 3,078.7 3,413.3
3 Household 2,119.1 2,076.4 2,031.9 2,302.5
4 Nonfinancial
corporate business 270.2 257.5 271.5 290.6
5 Nonfarm noncorporate
business 38.0 35.9 35.9 37.5
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 2,678.0
9 Financial sectors 14,651.5 15,862.5 17,624.3 19,382.0
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 933.2 928.5 964.8 1,033.4
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 491.2 515.3 535.7 531.6
21 Private pension
funds 627.0 674.6 731.0 775.9
22 State and local
government
retirement funds 568.2 632.0 703.6 753.4
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 101.1 98.3 102.8 105.9
26 Government-sponsored
enterprises 807.9 902.2 1,163.9 1,399.5
27 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4 2,292.2
28 Asset-backed
securities
issuers (ABSs) 773.9 937.7 1,219.4 1,435.3
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 121.0 166.7 169.8 305.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 19,810.4 21,300.0 23,461.9 25,731.4
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 521.7 619.7 639.0 725.8
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 6,582.4 7,725.5 8,760.0 9,747.7
49 Trade payables 1,809.3 1,941.4 1,970.3 2,167.6
50 Taxes payable 123.8 139.5 151.5 167.2
51 Investment in bank
personal trusts 871.3 942.5 1,001.0 1,130.4
52 Miscellaneous 6,349.1 6,670.6 7,237.9 7,787.5
53 Total liabilities 45,502.9 50,097.8 55,409.7 61,507.5
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 13,201.3 15,427.8 19,576.3
56 Household equity in
noncorporate
business 3,889.2 4,164.4 4,414.7 4,704.5
Liabilities not
identified as
assets (-)
57 Treasury currency -6.1 -6.3 -6.4 -7.1
58 Foreign deposits 437.0 538.3 548.2 615.0
59 Net interbank
transactions -10.6 -32.2 -27.0 -25.5
60 Security repurchase
agreements 109.8 172.9 234.3 264.4
61 Taxes payable 76.9 92.6 102.0 95.3
62 Miscellaneous -1,517.9 -1,889.8 -2,434.3 -2,884.0
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 171.8 133.5 94.5 145.9
66 Total identified to
sectors as assets 60,380.0 68,457.3 76,743.2 87,593.4
1999
Transaction category
or sector
Q2 Q3 Q4
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 24,512.7 25,128.7 25,731.4
2 Domestic nonfederal
nonfinancial
sectors 3,233.9 3,291.4 3,413.3
3 Household 2,133.6 2,191.8 2,302.5
4 Nonfinancial
corporate business 268.5 280.5 290.6
5 Nonfarm noncorporate
business 36.9 37.1 37.5
6 State and local
governments 794.8 781.9 782.8
7 Federal government 225.0 260.7 258.0
8 Rest of the world 2,621.3 2,718.1 2,678.0
9 Financial sectors 18,432.5 18,858.5 19,382.0
10 Monetary authority 485.1 489.3 478.1
11 Commercial banking 4,383.4 4,488.3 4,643.9
12 U.S.-chartered
banks 3,847.6 3,944.3 4,078.9
13 Foreign banking
offices in
United States 465.7 475.3 484.1
14 Bank holding
companies 25.1 22.0 32.7
15 Banks in U.S.-
affiliated
areas 45.0 46.7 48.3
16 Savings institutions 1,011.4 1,030.8 1,033.4
17 Credit unions 341.0 348.5 351.7
18 Bank personal trusts
and estates 208.0 215.0 222.0
19 Life insurance
companies 1,869.6 1,880.4 1,886.0
20 Other insurance
companies 537.5 533.9 531.6
21 Private pension
funds 762.0 763.5 775.9
22 State and local
government
retirement funds 728.9 738.9 753.4
23 Money market mutual
funds 1,001.8 1,049.7 1,147.8
24 Mutual funds 1,083.7 1,083.0 1,073.1
25 Closed-end funds 104.3 105.1 105.9
26 Government-sponsored
enterprises 1,268.5 1,339.1 1,399.5
27 Federally related
mortgage pools 2,182.7 2,246.1 2,292.2
28 Asset-backed
securities
issuers (ABSs) 1,352.7 1,409.8 1,435.3
29 Finance companies 660.9 678.2 713.3
30 Mortgage companies 35.6 32.5 35.6
31 Real estate
investment
trusts (REITs) 45.3 44.7 42.9
32 Brokers and dealers 158.8 166.8 154.7
33 Funding corporations 211.1 214.9 305.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 24,512.7 25,128.7 25,731.4
Other liabilities
35 Official foreign
exchange 50.9 52.1 50.1
36 Special drawing rights
certificates 8.2 7.2 6.2
37 Treasury currency 20.4 20.9 20.9
38 Foreign deposits 694.9 712.3 725.8
39 Net interbank
liabilities 207.1 199.6 204.5
40 Checkable deposits
and currency 1,353.1 1,353.8 1,484.8
41 Small time and
savings deposits 2,644.6 2,665.9 2,671.2
42 Large time deposits 809.0 837.5 936.1
43 Money market fund
shares 1,393.5 1,444.9 1,578.8
44 Security repurchase
agreements 957.1 999.4 1,083.4
45 Mutual fund shares 4,049.1 3,931.5 4,553.4
46 Security credit 586.5 593.1 676.6
47 Life insurance reserves 749.8 756.2 783.9
48 Pension fund reserves 9,294.3 8,959.6 9,747.7
49 Trade payables 2,030.8 2,097.9 2,167.6
50 Taxes payable 162.4 167.5 167.2
51 Investment in bank
personal trusts 1,061.0 1,019.0 1,130.4
52 Miscellaneous 7,431.5 7,448.5 7,787.5
53 Total liabilities 58,017.0 58,395.6 61,507.5
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 20.8 21.3 21.4
55 Corporate equities 17,060.4 16,214.9 19,576.3
56 Household equity in
noncorporate
business 4,548.9 4,623.1 4,704.5
Liabilities not
identified as
assets (-)
57 Treasury currency -6.6 -6.6 -7.1
58 Foreign deposits 584.7 591.5 615.0
59 Net interbank
transactions -10.6 -13.2 -25.5
60 Security repurchase
agreements 291.6 325.0 264.4
61 Taxes payable 112.2 96.5 95.3
62 Miscellaneous -2,673.2 -2,988.0 -2,884.0
Floats not included
in assets (-)
63 Federal government
checkable deposits -12.4 -10.2 -9.9
64 Other checkable
deposits 22.1 14.5 22.3
65 Trade credit 19.2 36.2 145.9
66 Total identified to
sectors as assets 81,320.0 81,209.2 7,593.4
2000
Transaction category
or sector
Q1 Q2 Q3 Q4
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 26,126.1 26,521.1 26,952.0 27,513.9
2 Domestic nonfederal
nonfinancial
sectors 3,343.6 3,355.1 3,317.0 3,326.4
3 Household 2,233.7 2,224.0 2,182.1 2,171.2
4 Nonfinancial
corporate business 288.9 296.5 301.5 312.4
5 Nonfarm noncorporate
business 38.1 38.8 39.8 40.8
6 State and local
governments 782.9 795.8 793.7 802.0
7 Federal government 259.6 261.6 262.7 266.4
8 Rest of the world 2,763.6 2,812.8 2,862.0 2,957.7
9 Financial sectors 19,759.3 20,091.6 20,510.3 20,963.3
10 Monetary authority 501.9 505.1 511.5 511.8
11 Commercial banking 4,725.0 4,847.4 4,931.0 5,003.1
12 U.S.-chartered
banks 4,171.3 4,295.4 4,368.2 4,419.3
13 Foreign banking
offices in
United States 482.0 478.1 487.5 508.1
14 Bank holding
companies 22.1 23.0 21.3 20.5
15 Banks in U.S.-
affiliated
areas 49.6 51.0 54.0 55.3
16 Savings institutions 1,044.5 1,061.7 1,080.9 1,089.1
17 Credit unions 359.0 370.8 378.6 383.2
18 Bank personal trusts
and estates 226.7 230.2 234.6 239.1
19 Life insurance
companies 1,901.5 1,913.4 1,936.5 1,954.7
20 Other insurance
companies 528.0 523.5 525.0 526.6
21 Private pension
funds 787.6 793.8 811.0 816.4
22 State and local
government
retirement funds 767.2 772.4 764.4 766.5
23 Money market mutual
funds 1,217.1 1,159.4 1,212.5 1,297.1
24 Mutual funds 1,053.7 1,073.9 1,088.1 1,099.2
25 Closed-end funds 106.7 107.4 108.2 109.0
26 Government-sponsored
enterprises 1,426.6 1,483.8 1,532.8 1,602.9
27 Federally related
mortgage pools 2,322.1 2,355.3 2,414.5 2,491.9
28 Asset-backed
securities
issuers (ABSs) 1,463.9 1,495.8 1,534.3 1,611.2
29 Finance companies 747.0 780.6 795.5 8,124.0
30 Mortgage companies 34.1 35.5 35.4 359.0
31 Real estate
investment
trusts (REITs) 38.8 38.2 37.3 36.0
32 Brokers and dealers 201.1 189.3 243.5 225.8
33 Funding corporations 306.7 354.2 334.6 351.6
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 26,126.1 26,521.1 26,952.0 27,513.9
Other liabilities
35 Official foreign
exchange 49.4 46.5 44.9 46.1
36 Special drawing rights
certificates 6.2 4.2 3.2 2.2
37 Treasury currency 21.4 22.1 23.2 23.2
38 Foreign deposits 790.4 792.6 770.3 750.3
39 Net interbank
liabilities 168.1 215.9 200.3 198.5
40 Checkable deposits
and currency 1,392.9 1,409.7 1,385.7 1,413.7
41 Small time and
savings deposits 2,728.0 2,738.8 2,790.9 2,864.2
42 Large time deposits 966.5 987.4 1,025.9 1,052.1
43 Money market fund
shares 1,666.0 1,627.1 1,697.8 1,812.3
44 Security repurchase
agreements 1,155.8 1,185.1 1,238.6 1,196.5
45 Mutual fund shares 4,863.3 4,759.6 4,815.0 4,432.8
46 Security credit 803.7 780.5 805.8 812.1
47 Life insurance reserves 799.9 809.4 822.3 823.5
48 Pension fund reserves 9,952.3 9,869.2 10,021.9 9,847.5
49 Trade payables 2,198.3 2,229.9 2,269.9 2,314.1
50 Taxes payable 180.5 180.0 184.1 184.1
51 Investment in bank
personal trusts 1,163.0 1,124.1 1,122.3 1,039.0
52 Miscellaneous 7,915.4 8,164.1 8,609.7 8,777.6
53 Total liabilities 62,947.3 63,467.3 64,783.9 65,103.6
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.5 21.4 21.6
55 Corporate equities 20,232.0 19,258.1 19,066.7 17,168.8
56 Household equity in
noncorporate
business 4,732.2 4,779.2 4,835.0 4,915.7
Liabilities not
identified as
assets (-)
57 Treasury currency -7.6 -7.9 -7.6 -8.0
58 Foreign deposits 667.4 650.9 623.0 590.0
59 Net interbank
transactions -13.9 -11.6 -17.6 -4.1
60 Security repurchase
agreements 411.3 416.5 445.3 379.0
61 Taxes payable 89.1 103.0 93.7 96.2
62 Miscellaneous -3,029.7 -3,035.6 -2,805.8 -3,126.0
Floats not included
in assets (-)
63 Federal government
checkable deposits -6.5 -5.2 -7.8 -2.3
64 Other checkable
deposits 18.7 22.5 15.5 24.0
65 Trade credit 94.7 62.3 51.5 133.3
66 Total identified to
sectors as assets 89,709.3 89,331.2 90,316.8 89,127.7
(1.) Data in this table also appear in the Board's Z.1 (780)
quarterly statistical release, tables L.1 and L.5. For ordering
address, see inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
2.10 NONFINANCIAL BUSINESS ACTIVITY Selected Measures
Monthly data seasonally adjusted, and indexes 1992=100,
except as noted
Measure 1998 1999 2000
1 Industrial production(1) 134.0 139.6 147.5
Market groups
2 Products, total 127.2 131.2 136.2
3 Final, total 129.3 133.3 138.7(r)
4 Consumer goods 118.4 120.8 123.0
5 Equipment 147.1 153.8 166.1(r)
6 Intermediate 121.0 125.1 128.8
7 Materials 145.7 154.5 167.9
Industry groups
8 Manufacturing 138.2 144.8 153.6
9 Capacity utilization,
manufacturing (percent)(2) 81.3 80.5 81.3
10 Construction contracts(3) 122.5(r) 135.2(r) 141.7(r)
11 Nonagricultural employment,
total(4) 123.5 126.3 128.9
12 Goods-producing, total 103.0 103.3 104.0
13 Manufacturing, total 99.0 97.6 97.0
Manufacturing,
14 production workers 100.0 98.4 97.6
15 Service-producing 130.0 133.7 136.8
16 Personal income, total 186.5 196.6 209.0
17 Wages and salary
disbursements 184.6 196.9 210.1
18 Manufacturing 152.3 157.4 164.2
19 Disposable personal income(5) 182.7 191.9 202.0
20 Retail sales(5) 178.4 194.7 209.9(r)
Prices(6)
21 Consumer (1982-84 = 100) 163.0 166.6 172.2
22 Producer finished goods
(1982 = 100) 130.7 133.0 138.0
2000
Measure
June July Aug.
1 Industrial production(1) 147.9 147.6 148.6
Market groups
2 Products, total 136.0 135.8 136.6
3 Final, total 138.3 138.1 139.2
4 Consumer goods 124.2 122.9 123.8
5 Equipment 164.3 166.3 167.9
6 Intermediate 129.0 128.7 128.8
7 Materials 169.4 169.0 170.5
Industry groups
8 Manufacturing 153.8 153.7 154.6
9 Capacity utilization,
manufacturing (percent)(2) 82.0 81.6 81.7
10 Construction contracts(3) 146.0(r) 139.0(r) 138.0(r)
11 Nonagricultural employment,
total(4) 129.1 129.1 129.0
12 Goods-producing, total 104.2 104.4 103.9
13 Manufacturing, total 97.3 97.6 97.0
Manufacturing,
14 production workers 97.9 98.4 97.5
15 Service-producing 137.1 137.0 137.0
16 Personal income, total 208.9 209.5 210.1
17 Wages and salary
disbursements 209.8 211.0 211.3
18 Manufacturing 164.3 165.8 164.9
19 Disposable personal income(5) 202.1 202.5 202.9
20 Retail sales(5) 209.3 211.1 211.0
Prices(6)
21 Consumer (1982-84 = 100) 172.4 172.8 172.8
22 Producer finished goods
(1982 = 100) 138.6 138.6 138.2
2000
Measure
Sept. Oct. Nov.(r)
1 Industrial production(1) 149.0 148.7 148.2
Market groups
2 Products, total 136.7 136.3 136.3
3 Final, total 139.3 138.8 138.8
4 Consumer goods 123.8 122.7 122.4
5 Equipment 168.3 169.1 169.9
6 Intermediate 128.6 128.7 128.5
7 Materials 171.3 171.1 169.9
Industry groups
8 Manufacturing 155.1 154.9 154.1
9 Capacity utilization,
manufacturing (percent)(2) 81.7 81.2 80.5
10 Construction contracts(3) 142.0(r) 149.0(r) 142.0
11 Nonagricultural employment,
total(4) 129.2 129.3 129.3
12 Goods-producing, total 103.9 104.0 103.9
13 Manufacturing, total 96.7 96.7 96.6
Manufacturing,
14 production workers 97.2 97.1 97.0
15 Service-producing 137.3 137.3 137.4
16 Personal income, total 212.5 212.1 212.5
17 Wages and salary
disbursements 212.7 214.0 214.6
18 Manufacturing 165.1 166.6 166.9
19 Disposable personal income(5) 205.2 204.4 204.6
20 Retail sales(5) 212.7 212.5 211.3
Prices(6)
21 Consumer (1982-84 = 100) 173.7 174.0 174.1
22 Producer finished goods
(1982 = 100) 139.4 140.1(r) 139.9
2000 2001
Measure
Dec.(r) Jan. Feb.(p)
1 Industrial production(1) 147.7 146.8 146.0
Market groups
2 Products, total 136.3 135.6 134.9
3 Final, total 138.8 138.1 137.5
4 Consumer goods 122.8 121.7 121.2
5 Equipment 169.0 168.9 168.5
6 Intermediate 128.5 128.2 127.0
7 Materials 168.4 167.1 166.0
Industry groups
8 Manufacturing 152.9 152.0 151.3
9 Capacity utilization,
manufacturing (percent)(2) 79.5 78.7 78.1
10 Construction contracts(3) 142.0 150.0 147.0
11 Nonagricultural employment,
total(4) 129.4 129.6 129.7
12 Goods-producing, total 103.6 103.9 103.6
13 Manufacturing, total 96.4 95.9 95.4
Manufacturing,
14 production workers 96.6 96.1 95.4
15 Service-producing 137.6 137.8 138.0
16 Personal income, total 213.4 214.6 n.a.
17 Wages and salary
disbursements 215.0 216.6 n.a.
18 Manufacturing 165.4 165.9 n.a.
19 Disposable personal income(5) 205.4 206.4 n.a.
20 Retail sales(5) 211.6 214.4 214.1
Prices(6)
21 Consumer (1982-84 = 100) 174.0 175.1 175.8
22 Producer finished goods
(1982 = 100) 139.7 141.2 141.5
(1.) Data in this table appear in the Board's G. 17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
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 
