Financial and Business Statistics
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 2001 2000
Monetary or
credit aggregate
Q2 Q3 Q4 Q1(r) Dec.
Reserves of
depository
institutions
(2)
1 Total -10.9 -8.3 -8.7 -2.1 -15.9
2 Required -7.7 -8.6 -10.4 -3.5 -20.3
3 Nonborrowed -12.5 -9.9 -6.4 .5 -13.7
4 Monetary base(3) -3.6 2.5 2.8 6.4 5.3
Concepts of
money and
debt(4)
5 M1 -1.8 -3.6 -3.0 4.8 2.0
6 M2 6.4 5.7 6.4 10.9 9.6
7 M3 9.0 8.8 7.1 13.0 14.2
8 Debt 6.1 4.8 4.6 5.5 5.9
Nontransaction
components
9 In M2(5) 9.0 8.5 9.2 12.6 11.8
10 In M3 only(6) 15.3(r) 16.4(r) 8.6(r) 18.0 25.0
Time and savings
deposits
Commercial banks
11 Savings,
including
MMDAs 7.8 11.8 11.9 17.1 16.4
12 Small time(7) 13.2 10.5 6.1 2.6 9.5
13 Large
time(8,9) 17.1 11.5 3.5 -1.3 39.2
Thrift
institutions
14 Savings,
including
MMDAs 1.6 3.3 .0 7.3 -9.2
15 Small time(7) 3.3 10.8 9.7 9.1 5.6
16 Large time(8) .6 23.0 14.0 12.6 -6.9
Money market
mutual funds
17 Retail 13.4 3.7 11.8 17.1 19.3
18 Institution-only 18.0 29.2 18.6 50.4 24.9
Repurchase
agreements
and
eurodollars
19 Repurchase
agreements
(10) 11.0(r) 8.2(r) -3.6(r) -13.7 12.1(r)
20 Eurodollars(10) 15.0 .6 10.3 24.7 13.5
Debt components
(4)
21 Federal -7.5 -7.3 -8.0 -5.4 -6.6
22 Nonfederal 9.7 7.8 7.6 8.0 8.7
2001
Monetary or
credit aggregate
Jan.(r) Feb.(r) Mar.(r) Apr.
Reserves of
depository
institutions
(2)
1 Total 10.0 1.2 -18.8 16.7
2 Required 12.7 -4.5 -18.0 20.8
3 Nonborrowed 14.3 1.9 -19.0 17.0
4 Monetary base(3) 11.2 3.5 2.6 7.1
Concepts of
money and
debt(4)
5 M1 12.1 .3 10.8 5.0
6 M2 12.4 10.9 14.6 10.2
7 M3 16.6 11.0 11.2 18.3
8 Debt 4.0 6.4 7.2 n.a.
Nontransaction
components
9 In M2(5) 12.4 13.8 15.6 11.7
10 In M3 only(6) 26.3 11.3 3.6 36.7
Time and savings
deposits
Commercial banks
11 Savings,
including
MMDAs 13.2 23.8 21.3 20.4
12 Small time(7) 5.0 -5.6 -6.3 -9.1
13 Large
time(8,9) 22.3 -56.6 -44.9 34.5
Thrift
institutions
14 Savings,
including
MMDAs 2.1 28.1 24.6 10.4
15 Small time(7) 14.9 7.5 1.4 2.7
16 Large time(8) 34.9 7.9 2.2 21.3
Money market
mutual funds
17 Retail 20.9 8.7 23.9 17.1
18 Institution-only 52.5 86.9 40.5 42.6
Repurchase
agreements
and
eurodollars
19 Repurchase
agreements
(10) -14.0 -33.7 -24.3 71.5
20 Eurodollars(10) 8.5 41.1 63.7 -27.8
Debt components
(4)
21 Federal -7.1 -3.0 1.2 n.a.
22 Nonfederal 6.6 8.5 8.6 n.a.
(1.) Unless otherwise noted, rates of change are calculated from
average amounts outstanding during preceding month or quarter.
(2.) Figures incorporate adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements. (See also
table 1.20.)
(3.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserves (line 1), plus
(2) the seasonally adjusted currency component of the money stock, plus
(3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all weekly reporters
whose vault cash exceeds their required reserves) the seasonally
adjusted, break-adjusted difference between current vault cash and the
amount applied to satisfy current reserve requirements.
(4.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign banks
and official institutions, less cash items in the process of collection
and Federal Reserve float, and (4) other checkable deposits (OCDs),
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift institutions.
Seasonally adjusted MI is computed by summing currency, travelers
checks, demand deposits, and OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings (including MMDAs), (2) small-denomination time
deposits (time deposits--including retail RPs--in amounts of less than
$100,000), and (3) balances in retail money market mutual funds.
Excludes individual retirement accounts (IRAs) and Keogh balances at
depository institutions and money market funds. Seasonally adjusted M2
is calculated by summing savings deposits, small-denomination time
deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds, (3) RP
liabilities (overnight and term) issued by all depository institutions,
and (4) eurodollars (overnight and term) held by U.S. residents at
foreign branches of U.S. banks worldwide and at all banking offices in
the United Kingdom and Canada. Excludes amounts held by depository
institutions, the U.S. government, money market funds, and foreign
banks and official institutions. Seasonally adjusted M3 is calculated
by summing large time deposits, institutional money fund balances, RP
liabilities, and eurodollars, each seasonally adjusted separately, and
adding this result to seasonally adjusted M2.
Debt: The debt aggregate is the outstanding credit market debt of the
domestic nonfinancial sectors--the federal sector (U.S. government,
not including government-sponsored enterprises or federally related
mortgage pools) and the nonfederal sectors (state and local
governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal
debt consists of mortgages, tax-exempt and corporate bonds, consumer
credit, bank loans, commercial paper, and other loans. The data, which
are derived from the Federal Reserve Board's flow of funds accounts,
are break-adjusted (that is, discontinuities in the data have been
smoothed into the series) and month-averaged (that is, the data have
been derived by averaging adjacent month-end levels).
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally adjusted
separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small time
deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those booked at international banking facilities.
(9.) Large time deposits at commercial banks less those held by money
market funds, depository institutions, the U.S. government, and foreign
banks and official institutions.
(10.) Includes both overnight and term.
1.11 RESERVES OF DEPOSITORY INSTITUTIONS AND RESERVE BANK CREDIT(1)
Millions of dollars
Average of daily figures
Factor 2001
Feb. Mar. Apr.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 574,233 577,856 580,694
U.S. government
securities(2)
2 Bought outright--
System account(3) 517,974 522,787 523,962
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 81 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 19,085 19,105 20,009
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 29 27 29
9 Seasonal credit 19 19 35
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 1,231 406 251
13 Other Federal Reserve
assets 35,815 35,502 36,398
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 32,026(r) 32,191(r) 32,299
ABSORBING RESERVE FUNDS
17 Currency in circulation 582,524(r) 585,180(r) 588,037
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 485 496 500
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 4,894 5,390 5,903
21 Foreign 94 85 92
22 Service-related
balances and
adjustments 6,533 6,859 6,940
23 Other 302 260 352
24 Other Federal Reserve
liabilities and
capital 18,168 18,232 17,806
25 Reserve balances with
Federal Reserve
Banks(5) 6,502 6,789(r) 6,609
Average of daily figures for
week ending on date indicated
Factor 2001
Mar. 14 Mar. 21 Mar. 28
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 575,106 581,252 576,086
U.S. government
securities(2)
2 Bought outright--
System account(3) 522,805 522,353 523,930
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 16,713 22,824 15,926
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 14 20 3
9 Seasonal credit 20 22 18
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 345 299 28
13 Other Federal Reserve
assets 35,199 35,724 36,171
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 32,165(r) 32,200(r) 32,235(r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 585,070(r) 585,342(r) 585,422(r)
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 504 495 489
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 4,893 6,709 4,621
21 Foreign 79 83 98
22 Service-related
balances and
adjustments 7,109 6,936 6,708(r)
23 Other 263 237 296
24 Other Federal Reserve
liabilities and
capital 18,343 18,318 18,325
25 Reserve balances with
Federal Reserve
Banks(5) 4,256 8,578 5,607(r)
Average of daily figures for
week ending on date indicated
Factor 2001
Apr. 4 Apr. 11 Apr. 18
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 580,821 578,385 581,623
U.S. government
securities(2)
2 Bought outright--
System account(3) 523,327 522,228 522,374
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 21,484 19,247 22,220
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 81 5 4
9 Seasonal credit 18 35 40
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float 159 1,061 613
13 Other Federal Reserve
assets 35,743 35,800 36,362
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 32,271 32,285 32,299
ABSORBING RESERVE FUNDS
17 Currency in circulation 586,790 588,029 588,815
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 479 486 503
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 5,671 5,010 5,491
21 Foreign 92 75 79
22 Service-related
balances and
adjustments 6,757 6,894 6,785
23 Other 303 372 342
24 Other Federal Reserve
liabilities and
capital 17,554 17,590 17,953
25 Reserve balances with
Federal Reserve
Banks(5) 8,691 5,458 7,199
Average
of
daily
figures
for
week
ending
on date
indi-
cated
Factor 2001 End-of-month figures
Apr. 25 Feb. Mar.
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 579,189 578,124 581,870
U.S. government
securities(2)
2 Bought outright--
System account(3) 525,432 519,618 523,862
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 17,183 23,665 21,995
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 29 2 8
9 Seasonal credit 36 15 14
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float -402 1,016 180
13 Other Federal Reserve
assets 36,900 33,798 35,801
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 32,313 32,087(r) 32,271(r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 587,931 585,129(r) 585,853(r)
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 512 505 478
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 6,894 4,956 5,657
21 Foreign 119 196 70
22 Service-related
balances and
adjustments 7,032 6,623 6,757(r)
23 Other 347 377 248
24 Other Federal Reserve
liabilities and
capital 17,971 17,842 17,441
25 Reserve balances with
Federal Reserve
Banks(5) 3,941 7,830 10,882(r)
End-of-
Factor month Wednesday figures
figures
Apr. Mar. 14 Mar. 21
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 587,708 575,911 597,298
U.S. government
securities(2)
2 Bought outright--
System account(3) 525,911 523,407 523,302
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 25,007 17,495 38,550
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 44 95 2
9 Seasonal credit 36 17 25
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float -370 -688 -534
13 Other Federal Reserve
assets 37,069 35,576 35,943
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 32,327 32,165(r) 32,200(r)
ABSORBING RESERVE FUNDS
17 Currency in circulation 588,100 586,274(r) 586,480(r)
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 516 496 491
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 7,894 4,564 4,662
21 Foreign 102 73 74
22 Service-related
balances and
adjustments 7,241 7,109 6,936
23 Other 403 247 241
24 Other Federal Reserve
liabilities and
capital 18,232 18,076 18,036
25 Reserve balances with
Federal Reserve
Banks(5) 10,792 4,482 25,823
Factor Wednesday figures
Mar. 28 Apr. 4 Apr. 11
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 575,715 581,095 582,327
U.S. government
securities(2)
2 Bought outright--
System account(3) 524,946 523,925 523,899
3 Held under repurchase
agreements 0 0 0
Federal agency
obligations
4 Bought outright 10 10 10
5 Held under repurchase
agreements 0 0 0
6 Repurchase agreements--
triparty(4) 15,500 21,500 18,750
7 Acceptances 0 0 0
Loans to depository
institutions
8 Adjustment credit 0 152 4
9 Seasonal credit 15 25 35
10 Special Liquidity
Facility credit 0 0 0
11 Extended credit 0 0 0
12 Float -1,234 -15 3,434
13 Other Federal Reserve
assets 36,477 35,497 36,195
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 32,235(r) 32,271 32,285
ABSORBING RESERVE FUNDS
17 Currency in circulation 586,682(r) 588,612 589,519
18 Reverse repurchase
agreements--
triparty(4) 0 0 0
19 Treasury cash holdings 478 484 501
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 4,764 5,141 5,128
21 Foreign 145 150 73
22 Service-related
balances and
adjustments 6,708(r) 6,757 6,894
23 Other 251 376 346
24 Other Federal Reserve
liabilities and
capital 18,020 17,241 17,712
25 Reserve balances with
Federal Reserve
Banks(5) 4,147(r) 7,850 7,684
Factor Wednesday figures
Apr. 18 Apr. 25
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit
outstanding 590,736 580,474
U.S. government
securities(2)
2 Bought outright--
System account(3) 525,195 527,300
3 Held under repurchase
agreements 0 0
Federal agency
obligations
4 Bought outright 10 10
5 Held under repurchase
agreements 0 0
6 Repurchase agreements--
triparty(4) 29,264 16,507
7 Acceptances 0 0
Loans to depository
institutions
8 Adjustment credit 11 32
9 Seasonal credit 37 34
10 Special Liquidity
Facility credit 0 0
11 Extended credit 0 0
12 Float -274 -596
13 Other Federal Reserve
assets 36,494 37,188
14 Gold stock 11,046 11,046
15 Special drawing rights
certificate account 2,200 2,200
16 Treasury currency
outstanding 32,299 32,313
ABSORBING RESERVE FUNDS
17 Currency in circulation 589,745 588,761
18 Reverse repurchase
agreements--
triparty(4) 0 0
19 Treasury cash holdings 512 516
Deposits, other than
reserve balances,
with Federal
Reserve Banks
20 Treasury 6,753 7,483
21 Foreign 107 121
22 Service-related
balances and
adjustments 6,785 7,032
23 Other 335 330
24 Other Federal Reserve
liabilities and
capital 17,677 17,660
25 Reserve balances with
Federal Reserve
Banks(5) 14,367 4,130
(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. Oct.
1 Reserve balances with
Reserve Banks(2) 9,026 5,262 7,159 6,778
2 Total vault cash(3) 44,294 60,619 45,120 45,178
3 Applied vault cash(4) 36,183 36,392 31,381 31,998
4 Surplus vault cash(5) 8,111 24,227 13,739 13,180
5 Total reserves(6) 45,209 41,654 38,540 38,776
6 Required reserves 43,695 40,357 37,216 37,629
7 Excess reserve
balances at Reserve
Banks(7) 1,514 1,297 1,325 1,147
8 Total borrowing at
Reserve Banks 117 320 210 418
9 Adjustment 101 179 99 119
10 Seasonal 15 67 111 299
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 2001
Nov. Dec. Jan. Feb.
1 Reserve balances with
Reserve Banks(2) 7,156 7,159 7,190 6,615
2 Total vault cash(3) 44,546 45,120 47,506 48,397(r)
3 Applied vault cash(4) 31,629 31,381 32,601 32,734
4 Surplus vault cash(5) 12,917 13,739 14,905 15,663(r)
5 Total reserves(6) 38,786 38,540 39,791 39,349
6 Required reserves 37,584 37,216 38,538 37,917
7 Excess reserve
balances at Reserve
Banks(7) 1,201 1,325 1,253 1,432
8 Total borrowing at
Reserve Banks 283 210 73 51
9 Adjustment 124 99 39 30
10 Seasonal 159 111 34 21
11 Special Liquidity
Facility(8) 0 0 0 ...
12 Extended credit(9) 0 0 0 0
Biweekly averages
Prorated monthly of daily figures
averages of for two-week
biweekly periods ending on
averages dates indicated
Reserve classification 2001 2000 2001
Mar.(r) Apr. Dec. 27 Jan. 10
1 Reserve balances with
Reserve Banks(2) 6,737 6,866 7,208 7,085
2 Total vault cash(3) (r) 44,020 43,646 46,220 46,696
3 Applied vault cash(4) 30,978 31,729 32,370 31,579
4 Surplus vault cash(5)(r) 13,043 11,917 13,850 15,117
5 Total reserves(6) 37,715 38,595 39,578 38,664
6 Required reserves 36,329 37,315 38,124 37,165
7 Excess reserve
balances at Reserve
Banks(7) 1,385 1,280 1,453 1,499
8 Total borrowing at
Reserve Banks 58 51 285 110
9 Adjustment 38 15 169 56
10 Seasonal 20 35 117 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 Feb. 21
1 Reserve balances with
Reserve Banks(2) 7,656 6,410 6,608
2 Total vault cash(3) 45,558 52,561(r) 48,505(r)
3 Applied vault cash(4) 32,316 34,631 32,380
4 Surplus vault cash(5) 13,243(r) 17,930(r) 16,125(r)
5 Total reserves(6) 39,972 41,041 38,988
6 Required reserves 38,866 39,844 37,361
7 Excess reserve
balances at Reserve
Banks(7) 1,106 1,196 1,627
8 Total borrowing at
Reserve Banks 66 34 38
9 Adjustment 42 9 18
10 Seasonal 25 25 20
11 Special Liquidity
Facility(8) ... ... ...
12 Extended credit(9) 0 0 0
Biweekly averages of daily figures
for two-week periods ending on
dates indicated
Reserve classification 2001
Mar. 7 Mar. 21 Apr. 4(r)
1 Reserve balances with
Reserve Banks(2) 6,836 6,296 7,287
2 Total vault cash(3) 44,017(r) 43,785(r) 44,352
3 Applied vault cash(4) 31,547 30,304 31,523
4 Surplus vault cash(5) 12,470(r) 13,481(r) 12,830
5 Total reserves(6) 38,382 36,600 38,809
6 Required reserves 37,103 35,419 37,062
7 Excess reserve
balances at Reserve
Banks(7) 1,279 1,180 1,747
8 Total borrowing at
Reserve Banks 95 38 60
9 Adjustment 76 17 42
10 Seasonal 19 21 18
11 Special Liquidity
Facility(8) ... ... ...
12 Extended credit(9) 0 0 0
Biweekly averages
of daily figures
for two-week
periods ending
on dates
indicated
Reserve classification 2001
Apr. 18 May 2
1 Reserve balances with
Reserve Banks(2) 6,328 7,354
2 Total vault cash(3) 43,409 43,688
3 Applied vault cash(4) 31,201 32,413
4 Surplus vault cash(5) 12,207 11,274
5 Total reserves(6) 37,529 39,767
6 Required reserves 36,330 38,549
7 Excess reserve
balances at Reserve
Banks(7) 1,199 1,218
8 Total borrowing at
Reserve Banks 42 59
9 Adjustment 4 20
10 Seasonal 38 39
11 Special Liquidity
Facility(8) ... ...
12 Extended credit(9) 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) Seasonal credit(2)
Federal Effec- Pre- Effec- Pre-
Reserve On tive vious On tive vious
Bank 6/8/01 date rate 6/8/01 date rate
Boston 3.50 5/16/01 4.00 3.95 5/31/01 4.20
New York 3.50 5/15/01 4.00 3.95 5/31/01 4.20
Philadelphia 3.50 5/17/01 4.00 3.95 5/31/01 4.20
Cleveland 3.50 5/17/01 4.00 3.95 5/31/01 4.20
Richmond 3.50 5/15/01 4.00 3.95 5/31/01 4.20
Atlanta 3.50 5/16/01 4.00 3.95 5/31/01 4.20
Chicago 3.50 5/15/01 4.00 3.95 5/31/01 4.20
St. Louis 3.50 5/16/01 4.00 3.95 5/31/01 4.20
Minneapolis 3.50 5/17/01 4.00 3.95 5/31/01 4.20
Kansas City 3.50 5/16/01 4.00 3.95 5/31/01 4.20
Dallas 3.50 5/16/01 4.00 3.95 5/31/01 4.20
San Francisco 3.50 5/15/01 4.00 3.95 5/31/01 4.20
Current and previous levels
Extended credit(3)
Federal
Reserve On Effective date Previous rate
Bank 6/8/01
Boston 4.45 5/31/01 4.70
New York 4.45 5/31/01 4.70
Philadelphia 4.45 5/31/01 4.70
Cleveland 4.45 5/31/01 4.70
Richmond 4.45 5/31/01 4.70
Atlanta 4.45 5/31/01 4.70
Chicago 4.45 5/31/01 4.70
St. Louis 4.45 5/31/01 4.70
Minneapolis 4.45 5/31/01 4.70
Kansas City 4.45 5/31/01 4.70
Dallas 4.45 5/31/01 4.70
San Francisco 4.45 5/31/01 4.70
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 9.5 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 4.50 4.50
1999--Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000--Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
2001--Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
May 15 3.50-4.00 3.50
17 3.50 3.50
In effect June 8, 2001 3.50 3.50
(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
Percentage of
Type of deposit deposits Effective date
Net transaction accounts(2)
1 $0 million-$42.8 million(3) 3 12/28/00
2 More than $42.8 million(4) 10 12/28/00
3 Nonpersonal time deposits(5) 0 12/27/90
4 Eurocurrency liabilities(6) 0 12/27/90
(1.) Required reserves must be held in the form of deposits with
Federal Reserve Banks or vault cash. Nonmember institutions may
maintain reserve balances with a Federal Reserve Bank indirectly, on a
pass-through basis, with certain approved institutions. For previous
reserve requirements, see earlier editions of the Annual Report or the
Federal Reserve Bulletin. Under the Monetary Control Act of 1980,
depository institutions include commercial banks, savings banks,
savings and loan associations, credit unions, agencies and branches of
foreign banks, and Edge Act 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
Sept. Oct. Nov. Dec.
U.S. TREASURY SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 231 779 2,507 509
2 Gross sales 0 0 0 0
3 Exchanges 37,006 38,142 45,182 39,428
4 For new bills 37,006 38,142 45,182 39,428
5 Redemptions 3,898 2,656 1,021 1,145
Others within one year
6 Gross purchases 716 0 580 1,420
7 Gross sales 0 0 0 0
8 Maturity shifts 0 8,663 7,957 0
9 Exchanges 0 -6,608 -7,012 0
10 Redemptions 0 787 780 0
One to five years
11 Gross purchases 2,385 734 1,332 1,045
12 Gross sales 0 0 0 0
13 Maturity shifts 0 -8,663 -5,997 0
14 Exchanges 0 6,608 5,737 0
Five to ten years
15 Gross purchases 448 0 510 771
16 Gross sales 0 0 0 0
17 Maturity shifts 0 0 -699 0
18 Exchanges 0 0 1,275 0
More than ten years
19 Gross purchases 547 982 0 0
20 Gross sales 0 0 0 0
21 Maturity shifts 0 0 -1,261 0
22 Exchanges 0 0 0 0
All maturities
23 Gross purchases 4,326 2,495 4,929 3,745
24 Gross sales 0 0 0 0
25 Redemptions 3,898 3,443 1,802 1,145
Matched transactions
26 Gross purchases 335,321 344,920 351,391 345,680
27 Gross sales 334,530 346,428 351,232 348,917
Repurchase agreements
28 Gross purchases 0 0 0 0
29 Gross sales 0 0 0 0
30 Net change in U.S.
Treasury securities 1,219 -2,457 3,286 -637
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0 0
32 Gross sales 0 0 0 0
33 Redemptions 10 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 -10 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 66,080 64,428 87,125 95,470
40 Gross sales 67,285 62,308 79,295 79,365
41 Net change in triparty
obligations -1,205 2,120 7,830 16,105
42 Total net change in System
Open Market Account 4 -337 11,116 15,468
2001
Type of transaction
and maturity
Jan. Feb. Mar.
U.S. TREASURY SECURITIES(2)
Outright transactions
(excluding matched
transactions)
Treasury bills
1 Gross purchases 520 2,683 579
2 Gross sales 0 0 0
3 Exchanges 40,769 42,767 46,712
4 For new bills 40,769 42,767 46,712
5 Redemptions 228 638 211
Others within one year
6 Gross purchases 0 1,605 67
7 Gross sales 0 0 0
8 Maturity shifts 5,405 10,619 0
9 Exchanges -6,667 -6,799 0
10 Redemptions 2,422 1,529 0
One to five years
11 Gross purchases 925 2,983 1,883
12 Gross sales 0 0 0
13 Maturity shifts -5,405 -7.794 0
14 Exchanges 6,667 4,945 0
Five to ten years
15 Gross purchases 1,283 0 0
16 Gross sales 0 0 0
17 Maturity shifts 0 -2,825 0
18 Exchanges 0 971 0
More than ten years
19 Gross purchases 296 495 1,000
20 Gross sales 0 0 0
21 Maturity shifts 0 0 0
22 Exchanges 0 883 0
All maturities
23 Gross purchases 3,024 7,766 3,529
24 Gross sales 0 0 0
25 Redemptions 2,650 2,166 211
Matched transactions
26 Gross purchases 356,250 320,060 396,029
27 Gross sales 352,336 322,056 395,151
Repurchase agreements
28 Gross purchases 0 0 0
29 Gross sales 0 0 0
30 Net change in U.S.
Treasury securities 4,289 3,604 4,196
FEDERAL AGENCY OBLIGATIONS
Outright transactions
31 Gross purchases 0 0 0
32 Gross sales 0 0 0
33 Redemptions 0 120 0
Repurchase agreements
34 Gross purchases 0 0 0
35 Gross sales 0 0 0
36 Net change in federal
agency obligations 0 -120 0
Reverse repurchase
agreements
37 Gross purchases 0 0 0
38 Gross sales 0 0 0
Repurchase agreements
39 Gross purchases 104,930 67,655 86,472
40 Gross sales 129,385 62,910 88,142
41 Net change in triparty
obligations -24,455 4,745 -1,670
42 Total net change in System
Open Market Account -20,166 8,229 2,526
(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
Mar. 28 Apr. 4 Apr. 11 Apr. 18
Consolidated condition statement
ASSETS
1 Gold certificate account 11,046 11,046 11,046 11,046
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,147 1,154 1,148 1,137
Loans
4 To depository
institutions 16 178 39 48
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty Obligations
7 Repurchase agreements--
triparty(2) 15,500 21,500 18,750 29,264
Federal agency
obligations(3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities(3) 524,946 523,925 523,899 525,195
11 Bought outright(4) 524,946 523,925 523,899 525,195
12 Bills 185,333 184,182 182,400 182,037
13 Notes 243,658 243,785 244,597 246,204
14 Bonds 95,956 95,958 96,901 96,953
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and
securities 540,472 545,612 542,698 554,517
17 Items in process of
collection 6,681 9,270 11,270 9,264
18 Bank premises 1,479 1,488 1,490 1,490
Other assets
19 Denominated in foreign
currencies(5) 15,427 14,559 14,565 14,571
20 All other(6) 19,558 19,443 20,068 20,361
21 Total assets 598,010 604,772 604,484 614,587
LIABILITIES
22 Federal Reserve notes 556,072 557,979 558,884 559,095
23 Reverse repurchase
agreements--
triparty(2) 0 0 0 0
24 Total deposits 16,389 20,630 19,505 28,951
25 Depository institutions 11,230 14,963 13,958 21,756
26 U.S. Treasury--General
account 4,764 5,141 5,128 6,753
27 Foreign--Official
accounts 145 150 73 107
28 Other 251 376 346 335
29 Deferred credit items 7,529 8,921 8,383 8,864
30 Other liabilities and
accrued dividends(7) 3,817 3,748 3,674 3,583
31 Total liabilities 583,808 591,279 590,446 600,492
CAPITAL ACCOUNTS
32 Capital paid in 7,029 7,031 7,043 7,046
33 Surplus 6,489 6,263 6,303 6,332
34 Other capital accounts 685 199 692 716
35 Total liabilities and
capital accounts 598,010 604,772 604,484 614,587
MEMO
36 Marketable U.S. Treasury
securities held in
custody for foreign
and international
accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued
to Banks) 741,569 741,072 740,532 740,208
38 LESS: Held by Federal
Reserve Banks 185,497 183,093 181,648 181,113
39 Federal Reserve notes,
net 556,072 557,979 558,884 559,095
Collateral held against
notes, net
40 Gold certificate account 11,046 11,046 11,046 11,046
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 2,370 0 2,979 0
43 U.S. Treasury and agency
securities 540,456 544,733 542,659 545,850
44 Total collateral 556,072 557,979 558,884 559,095
Wed- End of month
nesday
Account 2001 2001
Apr. 25 Feb. 28 Mar. 31 Apr. 30
Consolidated condition statement
ASSETS
1 Gold certificate account 11,046 11,046 11,046 11,046
2 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
3 Coin 1,121 1,115 1,179 1,129
Loans
4 To depository
institutions 66 18 22 80
5 Other 0 0 0 0
6 Acceptances held under
repurchase agreements 0 0 0 0
Triparty Obligations
7 Repurchase agreements--
triparty(2) 16,507 23,665 21,995 25,007
Federal agency
obligations(3)
8 Bought outright 10 10 10 10
9 Held under repurchase
agreements 0 0 0 0
10 Total U.S. Treasury
securities(3) 527,300 519,618 523,862 525,911
11 Bought outright(4) 527,300 519,618 523,862 525,911
12 Bills 181,923 182,998 184,244 180,787
13 Notes 248,286 241,792 243,661 247,965
14 Bonds 97,091 94,827 95,957 97,159
15 Held under repurchase
agreements 0 0 0 0
16 Total loans and
securities 543,882 543,311 545,889 551,008
17 Items in process of
collection 8,018 9,019 6,292 2,569
18 Bank premises 1,491 1,476 1,487 1,497
Other assets
19 Denominated in foreign
currencies(5) 14,578 15,386 14,554 14,766
20 All other(6) 20,914 17,534 19,748 20,602
21 Total assets 603,250 601,086 602,394 604,818
LIABILITIES
22 Federal Reserve notes 558,086 554,662 555,239 557,418
23 Reverse repurchase
agreements--
triparty(2) 0 0 0 0
24 Total deposits 19,066 20,667 23,803 26,571
25 Depository institutions 11,132 15,139 17,828 18,172
26 U.S. Treasury--General
account 7,483 4,956 5,657 7,894
27 Foreign--Official
accounts 121 196 70 102
28 Other 330 377 248 403
29 Deferred credit items 8,438 7,915 5,911 2,596
30 Other liabilities and
accrued dividends(7) 3,524 3,931 3,858 3,520
31 Total liabilities 589,115 587,175 588,811 590,105
CAPITAL ACCOUNTS
32 Capital paid in 7,050 7,023 7,029 7,043
33 Surplus 6,375 6,355 6,217 6,371
34 Other capital accounts 711 534 336 1,299
35 Total liabilities and
capital accounts 603,250 601,086 602,394 604,818
MEMO
36 Marketable U.S. Treasury
securities held in
custody for foreign
and international
accounts n.a. n.a. n.a. n.a.
Federal Reserve note statement
37 Federal Reserve notes
outstanding (issued
to Banks) 740,132 744,972 741,342 739,839
38 LESS: Held by Federal
Reserve Banks 182,046 190,310 186,103 182,421
39 Federal Reserve notes,
net 558,086 554,662 555,239 557,418
Collateral held against
notes, net
40 Gold certificate account 11,046 11,046 11,046 11,046
41 Special drawing rights
certificate account 2,200 2,200 2,200 2,200
42 Other eligible assets 1,023 0 0 0
43 U.S. Treasury and agency
securities 543,817 541,417 541,993 544,172
44 Total collateral 558,086 554,662 555,239 557,418
(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
Mar. 28 Apr. 4 Apr. 11 Apr. 18
1 Total loans 16 178 39 48
2 Within fifteen days(1) 16 156 10 47
3 Sixteen days to ninety
days 0 21 29 1
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities(2) 524,946 523,925 523,899 525,195
6 Within fifteen days(1) 20,700 16,330 15,132 21,132
7 Sixteen days to ninety
days 116,999 121,145 121,899 116,128
8 Ninety-one days to one
year 122,571 123,351 122,013 121,421
9 One year to five years 136,156 134,009 134,752 136,354
10 Five years to ten years 54,921 55,488 55,558 55,612
l1 More than ten years 73,599 73,602 74,545 74,547
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days(1) 0 0 0 0
14 Sixteen days to ninety
days 0 0 0 0
15 Ninety-one days to one
year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
Wednesday End of month
Type of holding and maturity 2001 2001
Apr. 25 Feb. 28 Mar. 31 Apr. 30
1 Total loans 66 18 22 80
2 Within fifteen days(1) 63 16 22 72
3 Sixteen days to ninety
days 3 2 0 8
4 91 days to 1 year 0 0 0 0
5 Total U.S. Treasury
securities(2) 527,300 519,618 523,861 525,912
6 Within fifteen days(1) 30,649 12,450 9,959 18,127
7 Sixteen days to ninety
days 107,022 116,644 126,988 113,525
8 Ninety-one days to one
year 122,317 128,775 122,234 127,821
9 One year to five years 136,449 134,268 136,157 135,551
10 Five years to ten years 56,313 54,893 54,923 56,337
l1 More than ten years 74,550 72,589 73,600 74,551
12 Total federal agency
obligations 10 10 10 10
13 Within fifteen days(1) 0 0 0 0
14 Sixteen days to ninety
days 0 0 0 0
15 Ninety-one days to one
year 0 0 0 0
16 One year to five years 10 10 10 10
17 Five years to ten years 0 0 0 0
18 More than ten years 0 0 0 0
(1.) Holdings under repurchase agreements are classified as maturing
within fifteen days in accordance with maximum maturity of the
agreements.
(2.) Includes compensation that adjusts for the effects of inflation
on the principal of inflation-indexed securities.
1.20 AGGREGATE RESERVES OF DEPOSITORY
INSTITUTIONS AND MONETARY BASE(1)
Billions of dollars, averages of daily figures
1997 1998 1999 2000
Item Dec. Dec. Dec. Dec.
ADJUSTED FOR CHANGES Seasonally adjusted
IN RESERVE REQUIREMENTS(2)
1 Total reserves(3) 46.85 45.18 41.78 38.51
2 Nonborrowed reserves(4) 46.52 45.07 41.46 38.30
3 Nonborrowed reserves plus
extended credit(5) 46.52 45.07 41.46 38.30
4 Required reserves 45.16 43.67 40.48 37.18
5 Monetary base(6) 479.47 513.49 593.09 583.97
Not seasonally adjusted
6 Total reserves(7) 48.01 45.31 41.89 38.60
7 Nonborrowed reserves 47.69 45.19 41.57 38.39
8 Nonborrowed reserves plus
extended credit(5) 47.69 45.19 41.57 38.39
9 Required reserves(8) 46.33 43.80 40.59 37.27
10 Monetary base(9) 484.98 518.27 600.72 590.20
NOT ADJUSTED FOR CHANGES
IN RESERVE REQUIREMENTS(10)
11 Total reserves(11) 47.92 45.21 41.65 38.54
12 Nonborrowed reserves 47.60 45.09 41.33 38.33
13 Nonborrowed reserves plus
extended credit(5) 47.60 45.09 41.33 38.33
14 Required reserves 46.24 43.70 40.36 37.22
15 Monetary base(12) 491.79 525.06 608.02 597.12
16 Excess reserves(13) 1.69 1.51 1.30 1.33
17 Borrowings from the Federal
Reserve .32 .12 .32 .21
2000
Item
Sept. Oct. Nov. Dec.
ADJUSTED FOR CHANGES Seasonally adjusted
IN RESERVE REQUIREMENTS(2)
1 Total reserves(3) 39.39 39.02 39.02 38.51
2 Nonborrowed reserves(4) 38.91 38.60 38.74 38.30
3 Nonborrowed reserves plus
extended credit(5) 38.91 38.60 38.74 38.30
4 Required reserves 38.27 37.87 37.82 37.18
5 Monetary base(6) 578.34 579.70 581.40 583.97
Not seasonally adjusted
6 Total reserves(7) 39.22 38.84 38.85 38.60
7 Nonborrowed reserves 38.75 38.42 38.56 38.39
8 Nonborrowed reserves plus
extended credit(5) 38.75 38.42 38.56 38.39
9 Required reserves(8) 38.11 37.69 37.65 37.27
10 Monetary base(9) 576.84 578.29 582.36 590.20
NOT ADJUSTED FOR CHANGES
IN RESERVE REQUIREMENTS(10)
11 Total reserves(11) 39.17 38.78 38.79 38.54
12 Nonborrowed reserves 38.69 38.36 38.50 38.33
13 Nonborrowed reserves plus
extended credit(5) 38.69 38.36 38.50 38.33
14 Required reserves 38.05 37.63 37.58 37.22
15 Monetary base(12) 583.52 585.01 589.12 597.12
16 Excess reserves(13) 1.12 1.15 1.20 1.33
17 Borrowings from the Federal
Reserve .48 .42 .28 .21
2001
Item
Jan. Feb.
ADJUSTED FOR CHANGES Seasonally adjusted
IN RESERVE REQUIREMENTS(2)
1 Total reserves(3) 38.83 38.87
2 Nonborrowed reserves(4) 38.75 38.82
3 Nonborrowed reserves plus
extended credit(5) 38.75 38.82
4 Required reserves 37.57 37.43
5 Monetary base(6) 589.40 591.13(r)
Not seasonally
adjusted
6 Total reserves(7) 39.78 39.38
7 Nonborrowed reserves 39.70 39.33
8 Nonborrowed reserves plus
extended credit(5) 39.70 39.33
9 Required reserves(8) 38.52 37.95
10 Monetary base(9) 591.50(r) 589.04(r)
NOT ADJUSTED FOR CHANGES
IN RESERVE REQUIREMENTS(10)
11 Total reserves(11) 39.79 39.35
12 Nonborrowed reserves 39.72 39.30
13 Nonborrowed reserves plus
extended credit(5) 39.72 39.30
14 Required reserves 38.54 37.92
15 Monetary base(12) 598.38(r) 595.59(r)
16 Excess reserves(13) 1.25 1.43
17 Borrowings from the Federal
Reserve .07 .05
2001
Item
Mar. Apr.
ADJUSTED FOR CHANGES Seasonally
IN RESERVE REQUIREMENTS(2) adjusted
1 Total reserves(3) 38.26 38.79
2 Nonborrowed reserves(4) 38.20 38.74
3 Nonborrowed reserves plus
extended credit(5) 38.20 38.74
4 Required reserves 36.87(r) 37.51
5 Monetary base(6) 592.43(r) 595.93
Not seasonally
adjusted
6 Total reserves(7) 37.76(r) 38.66
7 Nonborrowed reserves 37.71 38.61
8 Nonborrowed reserves plus
extended credit(5) 37.71 38.61
9 Required reserves(8) 36.38 37.38
10 Monetary base(9) 591.36(r) 594.88
NOT ADJUSTED FOR CHANGES
IN RESERVE REQUIREMENTS(10)
11 Total reserves(11) 37.72 38.60
12 Nonborrowed reserves 37.66 38.54
13 Nonborrowed reserves plus
extended credit(5) 37.66 38.54
14 Required reserves 36.33 37.32
15 Monetary base(12) 598.20(r) 601.79
16 Excess reserves(13) 1.39(r) 1.28
17 Borrowings from the Federal
Reserve .06 .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 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 on nonborrowed
reserves.
(6.) The seasonally adjusted, break-adjusted monetary base consists
of (1) seasonally adjusted, break-adjusted total reserves (line 1),
plus (2) the seasonally adjusted currency component of the money
stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required
reserves) the seasonally adjusted, break-adjusted difference
between current vault cash and the amount applied to satisfy current
reserve requirements.
(7.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(8.) To adjust required reserves for discontinuities that are due to
regulatory changes in reserve requirements, a multiplicative
procedure is used to estimate what required reserves would have been
in past periods had current reserve requirements been in effect.
Break-adjusted required reserves include required reserves against
transactions deposits and nonpersonal time and savings deposits (but
not reservable nondeposit liabilities).
(9.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component of
the money stock, plus (3) (for all quarterly reporters on the "Report
of Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required
reserves) the break-adjusted difference between current vault cash
and the amount applied to satisfy current reserve requirements.
(10.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the effects
of discontinuities associated with regulatory changes in reserve
requirements.
(11.) Reserve balances with Federal Reserve Banks plus vault cash
used to satisfy reserve requirements.
(12.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2) required
clearing balances and adjustments to compensate for float at Federal
Reserve Banks, plus (3) the currency component of the money stock,
plus (4) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to
satisfy current reserve requirements. Since February 1984, currency
and vault cash figures have been measured over the computation
periods ending on Mondays.
(13.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK AND DEBT MEASURES(1)
Billions of dollars, averages of daily figures
1997 1998 1999
Item Dec. Dec. Dec.
Seasonal adjusted
Measures(2)
1 M1 1,073.4 1,097.0 1,124.3
2 M2 4,030.4 4,383.4 4,650.0
3 M3 5,427.8 6,027.3 6,526.4(r)
4 Debt 15,223.1 16,277.9 17,379.4
M1 components
5 Currency(3) 424.3 459.2 516.7
6 Travelers checks(4) 8.1 8.2 8.2
7 Demand deposits(5) 395.4 379.4 355.6
8 Other checkable 245.7 250.1 243.7
deposits(6)
Nontransaction components
9 In M2(7) 2,957.0 3,286.4 3,525.7
10 In M3 only(8) 1,397.4 1,643.9 1,876.5(r)
Commercial banks
11 Savings deposits, 1,021.1 1,185.8 1,287.0
including MMDAs
12 Small time deposits(9) 625.5 626.4 635.2
13 Large time deposits(10, 11) 517.6 575.4 648.6
Thrift institutions
14 Savings deposits, 376.8 414.1 449.3
including MMDAs
15 Small time deposits(9) 342.9 325.8 320.9
16 Large time deposits(10) 85.5 88.7 91.3
Money market mutual funds
17 Retail 590.6 734.3 833.4
18 Institution-only 390.0 530.4 622.4
Repurchase agreements and
eurodollars
19 Repurchase agreements 254.3 297.5 340.8(r)
20 Eurodollars (12) 150.0 151.8 173.3
Debt components
21 Federal debt 3,800.6 3,751.2 3,660.3
22 Nonfederal debt 11,422.5 12.526.6 13,719.1
Not seasonally adjusted
Measures(2)
23 M1 1,096.9 1,120.4 1,147.8
24 M2 4,051.8 4,405.7 4,674.0
25 M3 5,453.1 6,059.4 6,563.9(r)
26 Debt 15,218.8 16,273.1 17,374.8
M1 components
27 Currency(3) 428.1 463.3 521.5
28 Travelers checks(4) 8.3 8.4 8.4
29 Demand deposits(5) 412.4 395.9 371.2
30 Other checkable 248.2 252.8 246.6
deposits(6)
Nontransaction components
31 In M2(7) 2,954.9 3,285.3 3,526.3
32 In M3 only(8) 1,401.3 1,653.7 1,889.9(r)
Commercial banks
33 Savings deposits, 1,020.4 1,186.0 1,288.5
including MMDAs
34 Small time deposits(9) 625.3 626.5 635.4
35 Large time deposits(10, 11) 517.0 574.8 648.0
Thrift institutions
36 Savings deposits, 376.5 414.2 449.8
including MMDAs
37 Small time deposits 342.8 325.8 321.0
38 Large time deposits(10) 85.4 88.6 91.2
Money market mutual funds
39 Retail 589.9 732.7 831.5
40 Institution-only 397.0 542.4 637.3
Repurchase agreements and
eurodollars
41 Repurchase agreements(12) 249.5 293.4 337.4(r)
42 Eurodollars(12) 152.3 154.5 176.0
Debt components
43 Federal debt 3,805.8 3,754.9 3,663.2
44 Nonfederal debt 11,413.0 12,518.2 13,711.6
2001
2000
Item Dec. Jan.(r) Feb.(r)
Seasonal adjusted
Measures(2)
1 M1 1,090.3 1,101.3 1,101.6
2 M2 4,943.4 4,994.3 5,039.5
3 M3 7,098.1(r) 7,196.3 7,262.1
4 Debt 18,303.3 18,364.8 18,462.5
M1 components
5 Currency(3) 530.1 534.5 537.4
6 Travelers checks(4) 8.0 8.1 8.0
7 Demand deposits(5) 313.2 317.1 315.0
8 Other checkable 239.0 241.7 241.3
deposits(6)
Nontransaction components
9 In M2(7) 3,853.1 3,893.0 3,937.9
10 In M3 only(8) 2,154.7(r) 2,201.9 2,222.6
Commercial banks
11 Savings deposits, 1,420.4 1,436.0 1,464.5
including MMDAs
12 Small time deposits(9) 699.9 702.8 699.5
13 Large time deposits(10, 11) 726.9 740.4 705.5
Thrift institutions
14 Savings deposits, 451.7 452.5 463.1
including MMDAs
15 Small time deposits(9) 346.3 350.6 352.8
16 Large time deposits(10) 103.1 106.1 106.8
Money market mutual funds
17 Retail 934.8 951.1 958.0
18 Institution-only 767.4 801.0 859.0
Repurchase agreements and
eurodollars
19 Repurchase agreements 360.2(r) 356.0 346.0
20 Eurodollars (12) 197.1 198.5 205.3
Debt components
21 Federal debt 3,400.5 3,380.4 3,372.0
22 Nonfederal debt 14,902.9(r) 14,984.4 15,090.5
Not seasonally adjusted
Measures(2)
23 M1 1,114.6 1,101.5 1,089.0
24 M2 4,972.1 5,003.7 5,038.2
25 M3 7,143.2(r) 7,226.5 7,297.0
26 Debt 18,295.4(r) 18,362.0 18,457.5
M1 components
27 Currency(3) 535.4 532.3 535.9
28 Travelers checks(4) 8.1 8.2 8.2
29 Demand deposits(5) 328.6 317.1 305.9
30 Other checkable 242.5 244.0 239.0
deposits(6)
Nontransaction components
31 In M2(7) 3,857.5 3,902.2 3,949.2
32 In M3 only(8) 2,171.1(r) 2,222.8 2,258.8
Commercial banks
33 Savings deposits, 1,425.1 1,433.7 1,456.3
including MMDAs
34 Small time deposits(9) 700.1 704.1 701.9
35 Large time deposits(10, 11) 726.3(r) 734.0 705.9
Thrift institutions
36 Savings deposits, 453.2 451.8 460.4
including MMDAs
37 Small time deposits 346.5 351.2 354.0
38 Large time deposits(10) 103.0 105.2 106.9
Money market mutual funds
39 Retail 932.6 961.4 976.7
40 Institution-only 785.3 827.8 889.0
Repurchase agreements and
eurodollars
41 Repurchase agreements(12) 357.1(r) 355.4 350.5
42 Eurodollars(12) 199.5 200.3 206.5
Debt components
43 Federal debt 3,403.5 3,373.1 3,368.7
44 Nonfederal debt 14,892.0 14,988.9 15,088.9
Item Mar.(r) Apr.
Seasonal adjusted
Measures(2)
1 M1 1,111.5 1,116.1
2 M2 5,100.7 5,144.2
3 M3 7,330.1 7,441.7
4 Debt 18,573.4 n.a.
M1 components
5 Currency(3) 539.2 541.9
6 Travelers checks(4) 7.9 7.8
7 Demand deposits(5) 315.7 311.9
8 Other checkable 248.7 254.6
deposits(6)
Nontransaction components
9 In M2(7) 3989.2 4,028.1
10 In M3 only(8) 2229.3 2,297.4
Commercial banks
11 Savings deposits, 1,490.5 1,515.8
including MMDAs
12 Small time deposits(9) 695.8 690.5
13 Large time deposits(10, 11) 679.1 698.6
Thrift institutions
14 Savings deposits, 472.6 476.7
including MMDAs
15 Small time deposits(9) 353.2 354.0
16 Large time deposits(10) 107.0 108.9
Money market mutual funds
17 Retail 997.1 991.0
18 Institution-only 888.0 919.5
Repurchase agreements and
eurodollars
19 Repurchase agreements 339.0 359.2
20 Eurodollars (12) 216.2 211.2
Debt components
21 Federal debt 3,375.4 n.a.
22 Nonfederal debt 15,198.1 n.a.
Not seasonally
adjusted
Measures(2)
23 M1 1,106.2 1,121.3
24 M2 5,135.2 5,208.1
25 M3 7,392.3 7,504.4
26 Debt 18,571.9 n.a.
M1 components
27 Currency(3) 539.2 542.3
28 Travelers checks(4) 8.0 7.9
29 Demand deposits(5) 310.6 312.0
30 Other checkable 248.4 259.1
deposits(6)
Nontransaction components
31 In M2(7) 4,029.0 4,086.8
32 In M3 only(8) 2,257.0 2,296.3
Commercial banks
33 Savings deposits, 1,497.4 1,540.9
including MMDAs
34 Small time deposits(9) 697.6 691.0
35 Large time deposits(10, 11) 684.6 703.4
Thrift institutions
36 Savings deposits, 474.8 484.6
including MMDAs
37 Small time deposits 354.1 354.3
38 Large time deposits(10) 107.9 109.7
Money market mutual funds
39 Retail 1,005.1 1,016.0
40 Institution-only 905.7 915.4
Repurchase agreements and
eurodollars
41 Repurchase agreements(12) 341.7 355.9
42 Eurodollars(12) 217.2 211.8
Debt components
43 Federal debt 3,392.5 n.a.
44 Nonfederal debt 15,179.4 n.a.
Footnotes appear on following page.
NOTES TO TABLE 1.21
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in 1959
are available from the Money and Reserves Projections Section,
Division of Monetary Affairs, Board of Governors of the Federal
Reserve System, Washington, DC 20551.
(2.) Composition of the money stock measures and debt is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions; (2) travelers checks of nonbank
issuers; (3) demand deposits at all commercial banks other than those
owed to depository institutions, the U.S. government, and foreign
banks and official institutions, less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits
(OCDs), consisting of negotiable order of withdrawal (NOW) and
automatic transfer service (ATS) accounts at depository institutions,
credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted M1 is computed by summing currency,
travelers checks, demand deposits, and OCDs, each seasonally adjusted
separately.
M2: M1 plus (1) savings deposits (including MMDAs), (2)
small-denomination time deposits (time deposits--including retail
RPs--in amounts of less than $100,000), and (3) balances in retail
money market mutual funds. Excludes individual retirement accounts
(IRAs) and Keogh balances at depository institutions and money market
funds. Seasonally adjusted M2 is calculated by summing savings
deposits, small-denomination time deposits, and retail money fund
balances, each seasonally adjusted separately, and adding this result
to seasonally adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more) issued by all depository institutions, (2) balances
in institutional money funds, (3) RP liabilities (overnight and term)
issued by all depository institutions, and (4) eurodollars (overnight
and term) held by U.S. residents at foreign branches of U.S. banks
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)
Apr.(r) Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 4,941.6 5,147.5 5,166.4 5,216.3
2 Securities in bank
credit 1,294.0 1,316.8 1,311.4 1,335.4
3 U.S. government
securities 816.7 794.3 785.9 788.8
4 Other securities 477.3 522.5 525.4 546.6
5 Loans and leases in
bank credit(2) 3,647.6 3,830.7 3,855.1 3,880.9
6 Commercial and
industrial 1,040.4 1,082.8 1,087.0 1,094.4
7 Real estate 1,555.1 1,638.4 1,651.3 1,658.0
8 Revolving home
equity 112.5 125.0 127.1 129.4
9 Other 1,442.6 1,513.4 1,524.2 1,528.6
10 Consumer 507.9 530.1 533.9 537.0
11 Security(3) 147.4 164.1 165.1 168.8
12 Other loans and
leases 396.9 415.4 417.8 422.8
13 Interbank loans 223.8 246.5 245.9 252.2
14 Cash assets(4) 281.2 267.1 256.1 267.2
15 Other assets(5) 370.5 413.6 402.7 397.1
16 Total assets(6) 5,757.6 6,012.5 6,008.4 6,068.9
Liabilities
17 Deposits 3,626.3 3,784.4 3,778.7 3,845.9
18 Transaction 627.3 611.1 601.2 602.0
19 Nontransaction 2,999.0 3,173.3 3,177.5 3,243.9
20 Large time 870.6 917.6 917.4 935.3
21 Other 2,128.4 2,255.7 2,260.1 2,308.6
22 Borrowings 1,184.7 1,208.7 1,202.9 1,242.2
23 From banks in the
U.S. 375.6 374.0 368.7 396.7
24 From others 809.2 834.8 834.2 845.5
25 Net due to related
foreign
offices 222.9 252.6 244.3 225.7
26 Other liabilities 297.9 347.9 347.2 345.1
27 Total liabilities 5,331.8 5,593.7 5,573.0 5,658.9
28 Residual (assets less
liabilities)(7) 425.7 418.8 435.4 410.0
Not seasonally adjusted
Assets
29 Bank credit 4,939.0 5,154.9 5,185.6 5,252.7
30 Securities in bank
credit 1,296.8 1,313.7 1,315.4 1,341.0
31 U.S. government
securities 822.3 789.2 787.0 788.6
32 Other securities 474.5 524.4 528.3 552.4
33 Loans and leases in
bank credit(2) 3,642.2 3,841.3 3,870.2 3,911.7
34 Commercial and
industrial 1,045.5 1,082.3 1,088.1 1,096.6
35 Real estate 1,551.3 1,641.7 1,656.9 1,662.6
36 Revolving home
equity 111.6 126.0 127.7 129.5
37 Other 1,439.6 1,515.7 1,529.1 1,533.2
38 Consumer 506.1 529.9 534.3 542.8
39 Credit cards and
related plans n.a. 206.7 209.9 218.7
40 Other n.a. 323.2 324.4 324.1
41 Security(3) 144.5 171.2 171.1 181.0
42 Other loans and
leases 394.9 416.1 419.9 428.7
43 Interbank loans 228.1 242.0 252.6 261.0
44 Cash assets(4) 277.5 267.9 263.2 286.5
45 Other assets(5) 370.4 410.0 402.4 403.3
46 Total assets(6) 5,755.7 6,012.9 6,041.0 6,139.5
Liabilities
47 Deposits 3,645.0 3,773.0 3,800.7 3,892.4
48 Transaction 634.8 605.1 607.4 631.2
49 Nontransaction 3,010.2 3,167.9 3,193.3 3,261.2
50 Large time 872.0 912.6 924.8 949.3
51 Other 2,138.2 2,255.3 2,268.5 2,311.9
52 Borrowings 1,186.4 1,206.9 1,211.3 1,245.0
53 From banks in the
U.S. 379.3 369.3 369.5 398.6
54 From others 807.1 837.6 841.8 846.5
55 Net due to related
foreign
offices 216.2 253.0 246.6 230.6
56 Other liabilities 293.7 348.1 349.1 347.5
57 Total liabilities 5,341.3 5,581.0 5,607.7 5,715.6
58 Residual (assets less
liabilities)(7) 414.3 431.9 433.3 423.9
Monthly averages
Account 2001
Jan. Feb.(r) Mar.(r) Apr.
Seasonally adjusted
Assets
1 Bank credit 5,267.0(r) 5,281.0 5,289.1 5,310.2
2 Securities in bank
credit 1,357.0(r) 1,351.8 1,345.1 1,361.1
3 U.S. government
securities 787.1(r) 777.8 758.5 766.7
4 Other securities 569.8(r) 574.0 586.7 594.3
5 Loans and leases in
bank credit(2) 3,910.0 3,929.2 3,943.9 3,949.1
6 Commercial and
industrial 1,109.9(r) 1,118.5 1,117.9 1,114.2
7 Real estate 1,661.1 1,671.4 1,679.0 1,685.3
8 Revolving home
equity 131.2 132.3 133.8 134.8
9 Other 1,529.9 1,539.1 1,545.2 1,550.6
10 Consumer 540.8 540.3 538.3 541.8
11 Security(3) 170.3 169.1 173.9 174.7
12 Other loans and
leases 427.9 429.9 434.9 433.1
13 Interbank loans 270.2 266.7 275.0 292.0
14 Cash assets(4) 273.1(r) 265.2 268.0 271.0
15 Other assets(5) 412.1(r) 414.2 430.2 429.6
16 Total assets(6) 6,157.7 6,162.1 6,197.4 6,237.6
Liabilities
17 Deposits 3,891.3(r) 3,889.1 3,923.4 3,984.4
18 Transaction 608.7(r) 607.6 607.0 611.6
19 Nontransaction 3,282.7(r) 3,281.5 3,316.4 3,372.8
20 Large time 946.8 941.5 933.5 945.5
21 Other 2,335.9(r) 2,340.0 2,382.9 2,427.4
22 Borrowings 1,262.3 1,258.0 1,243.8 1,278.1
23 From banks in the
U.S. 397.2(r) 396.0 395.6 405.8
24 From others 865.1(r) 861.9 848.2 872.3
25 Net due to related
foreign
offices 221.2 219.3 233.6 193.2
26 Other liabilities 362.7 343.5 355.5 351.3
27 Total liabilities 5,737.5(r) 5,709.9 5,756.3 5,807.1
28 Residual (assets less
liabilities)(7) 420.2 452.2 441.1 430.4
Not seasonally adjusted
Assets
29 Bank credit 5,281.8(r) 5,276.0 5,276.4 5,302.7
30 Securities in bank
credit 1,362.2(r) 1,353.6 1,349.2 1,362.7
31 U.S. government
securities 789.3(r) 779.5 764.3 771.6
32 Other securities 572.8(r) 574.0 584.9 591.1
33 Loans and leases in
bank credit(2) 3,919.6 3,922.4 3,927.2 3,940.0
34 Commercial and
industrial 1,107.1 1,117.9 1,119.4 1,118.9
35 Real estate 1,660.2 1,664.9 1,671.6 1,681.0
36 Revolving home
equity 130.4 131.2 132.2 133.8
37 Other 1,529.8 1,533.7 1,539.4 1,547.2
38 Consumer 545.1 540.9 534.5 538.7
39 Credit cards and
related plans 218.8 213.8 209.6 214.7
40 Other 326.3 327.1 324.9 324.0
41 Security(3) 178.1 171.9 170.0 170.4
42 Other loans and
leases 429.1 426.8 431.7 431.0
43 Interbank loans 272.2 268.5 282.3 298.1
44 Cash assets(4) 289.2(r) 266.3 258.1 266.8
45 Other assets(5) 414.0(r) 413.4 429.5 429.4
46 Total assets(6) 6,192.7 6,159.1 6,181.5 6,232.0
Liabilities
47 Deposits 3,906.1(r) 3,906.0 3,933.8 4,003.7
48 Transaction 620.4(r) 599.4 601.0 617.8
49 Nontransaction 3,285.7(r) 3,306.6 3,332.7 3,385.8
50 Large time 959.9 953.3 936.6 946.8
51 Other 2,325.8(r) 2,353.3 2,396.1 2,439.1
52 Borrowings 1,279.6 1,261.6 1,242.1 1,278.9
53 From banks in the
U.S. 403.4(r) 400.4 399.2 409.0
54 From others 876.2(r) 861.1 842.9 869.8
55 Net due to related
foreign
offices 225.4 225.5 232.5 186.1
56 Other liabilities 365.1 347.4 354.3 346.4
57 Total liabilities 5,776.2 5,740.5 5,762.7 5,815.0
58 Residual (assets less
liabilities)(7) 416.5 418.6 418.8 416.9
Wednesday figures
2001
Apr. 4 Apr. 11 Apr. 18 Apr. 25
Seasonally adjusted
Assets
1 Bank credit 5,304.5 5,321.0 5,303.6 5,311.0
2 Securities in bank
credit 1,367.7 1,361.9 1,354.9 1,363.6
3 U.S. government
securities 767.8 768.8 756.6 772.8
4 Other securities 599.9 593.2 598.3 590.8
5 Loans and leases in
bank credit(2) 3,936.8 3,959.1 3,948.7 3,947.4
6 Commercial and
industrial 1,109.6 1,114.2 1,115.4 1,115.7
7 Real estate 1,680.0 1,689.6 1,684.9 1,680.6
8 Revolving home
equity 134.0 134.2 134.7 135.0
9 Other 1,546.0 1,555.3 1,550.2 1,545.6
10 Consumer 539.5 540.0 543.6 542.7
11 Security(3) 180.0 185.1 174.2 168.5
12 Other loans and
leases 427.8 430.2 430.7 439.8
13 Interbank loans 281.9 282.2 293.7 307.9
14 Cash assets(4) 266.1 269.0 278.0 265.3
15 Other assets(5) 431.6 423.0 423.2 440.4
16 Total assets(6) 6,219.0 6,230.1 6,233.2 6,259.3
Liabilities
17 Deposits 3,982.1 3,974.3 3,997.5 3,986.8
18 Transaction 587.6 596.1 613.8 648.4
19 Nontransaction 3,394.5 3,378.1 3,383.7 3,338.4
20 Large time 954.7 947.0 946.8 946.4
21 Other 2,439.9 2,431.1 2,436.9 2,392.1
22 Borrowings 1,270.5 1,283.2 1,278.4 1,284.1
23 From banks in the
U.S. 408.5 412.5 406.0 411.8
24 From others 862.0 870.7 872.4 872.3
25 Net due to related
foreign
offices 167.0 182.4 186.1 210.4
26 Other liabilities 359.6 355.7 357.1 344.4
27 Total liabilities 5,779.3 5,795.4 5,819.0 5,825.7
28 Residual (assets less
liabilities)(7) 439.7 434.7 414.2 433.7
Not seasonally adjusted
Assets
29 Bank credit 5,288.3 5,303.6 5,308.6 5,300.6
30 Securities in bank
credit 1,372.2 1,366.0 1,357.6 1,361.5
31 U.S. government
securities 776.3 776.7 762.4 774.4
32 Other securities 595.9 589.3 595.3 587.1
33 Loans and leases in
bank credit(2) 3,916.2 3,937.7 3,951.0 3,939.2
34 Commercial and
industrial 1,114.2 1,115.1 1,122.6 1,120.1
35 Real estate 1,673.6 1,684.7 1,680.4 1,676.7
36 Revolving home
equity 132.2 132.6 133.7 134.7
37 Other 1,541.3 1,552.1 1,546.7 1,542.0
38 Consumer 534.1 535.2 540.3 541.5
39 Credit cards and
related plans 210.9 211.2 215.2 217.7
40 Other 323.2 324.0 325.1 323.8
41 Security(3) 165.2 174.4 177.7 166.4
42 Other loans and
leases 429.0 428.3 430.0 434.5
43 Interbank loans 300.9 299.0 305.4 296.5
44 Cash assets(4) 261.7 259.1 280.4 255.8
45 Other assets(5) 435.5 423.2 423.0 436.3
46 Total assets(6) 6,221.6 6,220.1 6,252.3 6,224.4
Liabilities
47 Deposits 4,022.9 4,013.4 4,031.5 3,969.6
48 Transaction 601.5 605.0 632.8 636.4
49 Nontransaction 3,421.4 3,408.4 3,398.8 3,333.2
50 Large time 954.9 947.3 947.7 948.5
51 Other 2,466.5 2,461.1 2,451.0 2,384.7
52 Borrowings 1,261.7 1,268.3 1,279.90 1,293.9
53 From banks in the
U.S. 410.8 411.8 409.7 416.5
54 From others 851.0 856.5 870.2 877.4
55 Net due to related
foreign
offices 163.1 173.9 176.2 201.3
56 Other liabilities 356.0 347.7 348.9 340.9
57 Total liabilities 5,803.8 5,803.3 5,836.5 5,805.7
58 Residual (assets less
liabilities)(7) 417.9 416.7 415.8 418.6
B. Domestically chartered commercial bank
Billions of dollars
Monthly averages
Account 2000 2000(r)
Apr.(r) Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 4,372.2 4,560.2 4,578.3 4,616.9
2 Securities in bank
credit 1,089.3 1,115.0 1,115.8 1,130.3
3 U.S. government
securities 736.4 724.3 717.9 719.5
4 Other securities 352.8 390.7 398.0 410.8
5 Loans and leases in
bank credit(2) 3,282.9 3,445.1 3,462.5 3,486.5
6 Commercial and
industrial 840.1 879.1 881.0 885.4
7 Real estate 1,537.8 1,620.3 1,632.8 1,639.4
8 Revolving home
equity 112.5 125.0 127.1 129.4
9 Other 1,425.3 1,495.3 1,505.7 1,510.0
10 Consumer 507.9 530.1 533.9 537.0
11 Security(3) 68.8 67.4 64.7 68.7
12 Other loans and
leases 328.2 348.2 350.1 356.0
13 Interbank loans 194.9 219.4 219.1 225.2
14 Cash assets(4) 235.0 225.0 217.5 227.3
15 Other assets(5) 331.0 372.3 362.7 360.9
16 Total assets(6) 5,073.9 5,315.1 5,315.4 5,366.8
Liabilities
17 Deposits 3,240.0 3,405.5 3,401.5 3,467.6
18 Transaction 616.3 600.4 590.4 591.3
19 Nontransaction 2,623.7 2,805.1 2,811.1 2,876.3
20 Large time 497.8 545.6 547.2 563.9
21 Other 2,126.0 2,259.5 2,263.9 2,312.5
22 Borrowings 985.5 987.7 979.9 1,002.8
23 From banks in the
U.S. 354.6 355.0 350.1 374.5
24 From others 630.9 632.7 629.8 628.3
25 Net due to related
foreign
offices 207.3 236.1 237.1 227.6
26 Other liabilities 220.6 268.2 271.8 272.8
27 Total liabilities 4,653.4 4,897.5 4,890.2 4,970.8
28 Residual (assets less
liabilities)(7) 420.4 417.5 425.2 395.9
Not seasonally adjusted
Assets
29 Bank credit 4,371.4 4,563.5 4,594.8 4,642.5
30 Securities in bank
credit 1,092.0 1,111.9 1,119.8 1,135.9
31 U.S. government
securities 742.1 719.2 718.9 719.3
32 Other securities 350.0 392.7 400.9 416.6
33 Loans and leases in
bank credit(2) 3,279.4 3,451.6 3,475.0 3,506.6
34 Commercial and
industrial 846.8 878.4 881.4 885.2
35 Real estate 1,534.0 1,623.6 1,638.3 1,644.1
36 Revolving home
equity 111.6 126.0 127.7 129.5
37 Other 1,422.3 1,497.6 1,510.6 1,514.6
38 Consumer 506.1 529.9 534.3 542.8
39 Credit cards and
related plans n.a. 206.7 209.9 218.7
40 Other n.a. 323.2 324.4 324.1
41 Security(3) 66.6 70.3 69.2 74.7
42 Other loans and
leases 326.1 349.4 351.7 359.7
43 Interbank loans 199.1 215.0 225.8 233.9
44 Cash assets(4) 233.2 225.0 222.5 243.8
45 Other assets(5) 331.8 369.3 362.4 365.4
46 Total assets(6) 5,076.6 5,311.2 5,343.1 5,422.1
Liabilities
47 Deposits 3,255.9 3,400.3 3,420.8 3,503.5
48 Transaction 624.3 594.3 596.4 619.8
49 Nontransaction 2,631.5 2,806.0 2,824.4 2,883.7
50 Large time 495.7 546.9 552.1 567.7
51 Other 2,135.8 2,259.0 2,272.3 2,315.9
52 Borrowings 987.2 985.9 988.3 1,005.7
53 From banks in the
U.S. 358.4 350.3 350.9 376.4
54 From others 628.8 635.5 637.4 629.3
55 Net due to related
foreign
offices 205.0 236.3 239.0 227.7
56 Other liabilities 218.3 268.3 273.5 273.2
57 Total liabilities 4,666.4 4,890.7 4,921.6 5,010.0
58 Residual (assets less
liabilities)(7) 410.2 420.5 421.5 412.1
Monthly average
Account 2001
Jan. Feb.(r) Mar.(r) Apr.
Seasonally adjusted
Assets
1 Bank credit 4,652.2(r) 4,670.6 4,668.7 4,693.4
2 Securities in bank
credit 1,148.1(r) 1,151.9 1,139.7 1,146.4
3 U.S. government
securities 719.8(r) 713.2 690.6 691.7
4 Other securities 428.3(r) 438.7 449.1 454.7
5 Loans and leases in
bank credit(2) 3,504.1 3,518.7 3,529.0 3,547.0
6 Commercial and
industrial 895.3 900.3 897.7 893.5
7 Real estate 1,642.2 1,652.7 1,660.5 1,667.3
8 Revolving home
equity 131.2 132.3 133.8 134.8
9 Other 1,510.9 1,520.4 1,526.7 1,532.5
10 Consumer 540.8 540.3 538.3 541.8
11 Security(3) 65.1 63.3 67.4 79.3
12 Other loans and
leases 360.7 362.0 365.1 365.1
13 Interbank loans 240.9 238.1 244.4 262.6
14 Cash assets(4) 231.5 223.3 227.3 231.7
15 Other assets(5) 375.0(r) 377.6 391.9 388.7
16 Total assets(6) 5,435.4 5,445.0 5,467.9 5,511.5
Liabilities
17 Deposits 3,505.4 3,510.0 3,546.0 3,591.9
18 Transaction 598.0(r) 597.4 597.6 601.1
19 Nontransaction 2,907.4(r) 2,912.6 2,948.5 2,990.8
20 Large time 567.5 568.8 567.7 565.7
21 Other 2,339.9(r) 2,343.9 2,380.7 2,425.1
22 Borrowings 1,020.7 1,020.8 1,010.2 1,042.1
23 From banks in the
U.S. 372.1(r) 373.7 371.4 382.3
24 From others 648.6(r) 647.1 638.9 659.9
25 Net due to related
foreign
offices 217.7 214.6 211.8 189.0
26 Other liabilities 285.2 266.1 272.6 263.1
27 Total liabilities 5,029.0 5,011.4 5,040.7 5,086.2
28 Residual (assets less
liabilities)(7) 406.5 433.5 427.2 425.4
Not seasonally adjusted
Assets
29 Bank credit 4,658.9(r) 4,662.3 4,660.9 4,688.7
30 Securities in bank
credit 1,153.3(r) 1,153.7 1,143.8 1,148.0
31 U.S. government
securities 722.0 715.0 696.5 696.6
32 Other securities 431.3(r) 438.7 447.3 451.4
33 Loans and leases in
bank credit(2) 3,505.7(r) 3,508.6 3,517.1 3,540.8
34 Commercial and
industrial 890.9 897.5 898.1 900.0
35 Real estate 1,641.2 1,646.2 1,653.2 1,662.9
36 Revolving home
equity 130.4 131.2 132.2 133.8
37 Other 1,510.8 1,515.0 1,520.9 1,529.1
38 Consumer 545.1 540.9 534.5 538.7
39 Credit cards and
related plans 218.8 213.8 209.6 214.7
40 Other 326.3 327.1 324.9 324.0
41 Security(3) 67.6 65.1 69.4 76.4
42 Other loans and
leases 360.8 358.9 361.9 362.9
43 Interbank loans 242.9 239.9 251.7 268.7
44 Cash assets(4) 245.0(r) 224.2 218.8 229.0
45 Other assets(5) 375.6(r) 375.8 390.6 389.4
46 Total assets(6) 5,458.5 5,437.7 5,457.5 5,511.3
Liabilities
47 Deposits 3,510.3 3,518.8 3,551.9 3,608.3
48 Transaction 609.6(r) 589.4 591.8 607.9
49 Nontransaction 2,900.7(r) 2,929.3 2,960.1 3,000.4
50 Large time 570.8 572.1 566.2 563.6
51 Other 2,329.9(r) 2,357.3 2,393.9 2,436.8
52 Borrowings 1,038.0 1,024.4 1,008.6 1,042.8
53 From banks in the
U.S. 378.3(r) 378.1 375.0 385.5
54 From others 659.7(r) 646.3 633.6 657.3
55 Net due to related
foreign
offices 218.6 217.4 210.6 186.5
56 Other liabilities 286.2 268.6 271.3 260.3
57 Total liabilities 5,053.0(r) 5,029.2 5,042.4 5,098.0
58 Residual (assets less
liabilities)(7) 405.4 408.5 415.1 413.3
Wednesday figures
Account 2001
Apr. 4 Apr. 11 Apr. 18 Apr. 25
Seasonally adjusted
Assets
1 Bank credit 4,678.7 4,690.1 4,692.0 4,696.5
2 Securities in bank
credit 1,152.9 1,146.6 1,142.6 1,145.4
3 U.S. government
securities 693.4 694.2 683.9 692.4
4 Other securities 459.5 452.4 458.7 452.9
5 Loans and leases in
bank credit(2) 3,525.8 3,543.5 3,549.4 3,551.1
6 Commercial and
industrial 890.7 892.4 894.8 894.2
7 Real estate 1,662.0 1,671.2 1,666.7 1,662.7
8 Revolving home
equity 134.0 134.2 134.7 135.0
9 Other 1,528.0 1,537.0 1,532.0 1,527.7
10 Consumer 539.5 540.0 543.6 542.7
11 Security(3) 73.7 78.2 81.3 79.4
12 Other loans and
leases 359.9 361.7 363.1 372.0
13 Interbank loans 253.8 253.9 263.0 277.9
14 Cash assets(4) 224.2 229.1 239.0 226.3
15 Other assets(5) 389.3 382.2 379.9 400.0
16 Total assets(6) 5,481.2 5,490.5 5,509.0 5,535.8
Liabilities
17 Deposits 3,588.8 3,583.2 3,601.8 3,588.7
18 Transaction 577.7 585.2 603.6 637.7
19 Nontransaction 3,011.0 2,998.1 2,998.2 2,951.0
20 Large time 573.4 569.2 563.6 561.1
21 Other 2,437.7 2,428.8 2,434.6 2,389.9
22 Borrowings 1,031.8 1,039.1 1,033.9 1,052.7
23 From banks in the
U.S. 383.0 391.0 379.6 386.7
24 From others 648.8 648.1 654.3 666.0
25 Net due to related
foreign
offices 167.8 179.2 187.7 201.8
26 Other liabilities 271.9 268.5 269.6 252.7
27 Total liabilities 5,060.2 5,070.0 5,093.0 5,096.0
28 Residual (assets less
liabilities)(7) 421.0 420.5 416.0 439.8
Not seasonally adjusted
Assets
29 Bank credit 4,673.7 4,682.5 4,692.9 4,685.9
30 Securities in bank
credit 1,157.4 1,150.6 1,145.3 1,143.3
31 U.S. government
securities 701.9 702.1 689.7 694.1
32 Other securities 455.5 448.4 455.6 449.2
33 Loans and leases in
bank credit(2) 3,516.3 3,532.0 3,547.6 3,542.6
34 Commercial and
industrial 895.1 895.5 903.0 901.2
35 Real estate 1,655.6 1,666.3 1,662.2 1,658.8
36 Revolving home
equity 132.2 132.6 133.7 134.7
37 Other 1,523.3 1,533.8 1,528.5 1,524.1
38 Consumer 534.1 535.2 540.3 541.5
39 Credit cards and
related plans 210.9 211.2 215.2 217.7
40 Other 323.2 324.0 325.1 323.8
41 Security(3) 70.4 75.1 80.4 74.9
42 Other loans and
leases 361.1 359.9 361.7 366.2
43 Interbank loans 272.8 270.7 274.7 266.5
44 Cash assets(4) 221.4 221.2 242.7 218.6
45 Other assets(5) 393.6 383.2 380.9 397.0
46 Total assets(6) 5,497.2 5,493.1 5,526.5 5,503.3
Liabilities
47 Deposits 3,626.8 3,621.5 3,633.9 3,567.4
48 Transaction 591.9 594.7 623.1 626.5
49 Nontransaction 3,034.9 3,026.8 3,010.8 2,940.9
50 Large time 570.6 567.9 562.1 558.5
51 Other 2,464.2 2,458.9 2,448.8 2,382.4
52 Borrowings 1,023.0 1,024.2 1,035.5 1,062.6
53 From banks in the
U.S. 385.3 390.3 383.4 391.4
54 From others 637.7 633.9 652.1 671.1
55 Net due to related
foreign
offices 164.7 173.0 181.8 203.6
56 Other liabilities 268.6 261.5 263.3 254.2
57 Total liabilities 5,083.1 5,080.2 5,114.6 5,087.8
58 Residual (assets less
liabilities)(7) 414.1 412.9 411.9 415.5
C. Large domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2000 2000(r)
Apr.(r) Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 2,471.5 2,537.3 2,535.8 2,553.5
2 Securities in bank
credit 574.1 577.9 573.6 580.8
3 U.S. government
securities 363.4 355.4 348.6 352.1
4 Trading account 21.4 21.2 21.6 28.8
5 Investment
account 341.9 334.2 327.0 323.2
6 Other securities 210.8 222.5 225.0 228.7
7 Trading account 94.1 111.7 114.5 119.0
8 Investment
account 116.7 110.7 110.6 109.8
9 State and local
government 25.5 25.9 26.3 26.3
10 Other 91.2 84.8 84.3 83.5
11 Loans and leases in
bank
credit(2) 1,897.4 1,959.4 1,962.2 1,972.7
12 Commercial and
industrial 573.9 591.5 590.8 594.6
13 Bankers
acceptances 1.1 .8 .9 .9
14 Other 572.8 590.7 590.0 593.8
15 Real estate 791.1 817.8 821.1 820.9
16 Revolving home
equity 73.3 79.5 81.0 82.4
17 Other 717.8 738.4 740.1 738.5
18 Consumer 229.2 235.0 236.4 236.3
19 Security(3) 62.5 60.5 58.1 61.6
20 Federal funds sold
to and
repurchase
agreements
with
broker-
dealers 39.8 42.8 41.7 46.2
21 Other 22.7 17.7 16.4 15.3
22 State and local
government 12.5 12.8 12.7 12.5
23 Agricultural 9.5 9.5 9.6 9.7
24 Federal funds sold
to and
repurchase
agreements
with others 13.7 17.0 19.0 21.0
25 All other loans 85.0 87.5 86.4 87.7
26 Lease-financing
receivables 119.9 127.8 128.1 128.4
27 Interbank loans 129.0 137.0 138.6 137.7
28 Federal funds sold
to and
repurchase
agreements
with
commercial
banks 64.7 59.1 62.1 63.8
29 Other 64.3 77.8 76.6 73.9
30 Cash assets(4) 156.0 143.8 139.0 144.1
31 Other assets(5) 223.0 259.8 254.1 248.5
32 Total assets(6) 2,944.6 3,042.3 3,031.8 3,047.1
Liabilities
33 Deposits 1,655.0 1,652.9 1,642.2 1,672.1
34 Transaction 314.4 304.5 296.2 297.0
35 Nontransaction 1,340.6 1,348.4 1,346.0 1,375.1
36 Large time 245.8 256.2 254.4 265.1
37 Other 1,094.8 1,092.2 1,091.6 1,110.0
38 Borrowings 653.7 657.8 652.6 666.2
39 From banks in the U.S. 198.8 198.1 196.0 214.0
40 From others 454.9 459.7 456.7 452.3
41 Net due to related
foreign
offices 202.0 212.7 213.4 206.7
42 Other liabilities 163.4 216.1 217.9 218.7
43 Total liabilities 2,674.1 2,739.5 2,726.1 2,763.7
44 Residual (assets less
liabili-
ties)(7) 270.5 302.8 305.7 283.5
Not seasonally adjusted
Assets
45 Bank credit 2,469.7 2,539.3 2,551.6 2,574.6
46 Securities in bank
credit 574.2 577.2 579.4 587.2
47 U.S. government
securities 366.3 352.8 351.4 352.7
48 Trading account 21.6 21.1 21.8 28.9
49 Investment
account 344.6 331.8 329.6 323.8
50 Mortgage-backed
securities 222.6 211.1 211.4 213.4
51 Other 122.0 120.7 118.2 110.4
52 One year or
less 29.9 32.0 32.7 31.3
53 One to five
years 53.4 51.6 49.9 45.0
54 More than five
years 38.8 37.0 35.6 34.1
55 Other securities 207.9 224.4 228.0 234.5
56 Trading account 92.9 112.7 116.0 122.0
57 Investment account 115.0 111.7 112.0 112.5
58 State and local
government 25.1 26.1 26.6 26.9
59 Other 89.8 85.6 85.4 85.6
60 Loans and leases in
bank
credit(2) 1,895.5 1,962.1 1,972.2 1,987.4
61 Commercial and
industrial 578.8 591.3 592.0 593.7
62 Bankers
acceptances 1.1 .8 .9 .9
63 Other 577.7 590.4 591.1 592.8
64 Real estate 787.4 820.2 826.3 825.5
65 Revolving home
equity 72.4 80.3 81.4 82.3
66 Other 432.9 454.3 457.5 455.9
67 Commercial 282.1 285.6 287.4 287.3
68 Consumer 229.8 232.8 234.9 238.3
69 Credit cards and
related
plans n.a. 76.5 78.0 82.3
70 Other n.a. 156.3 156.9 156.1
71 Security(3) 60.1 63.3 62.2 67.4
72 Federal funds sold
to and
repurchase
agreements
with broker-
dealers 38.3 44.8 44.6 50.6
73 Other 21.9 18.5 17.6 16.8
74 State and local
government 12.5 12.8 12.7 12.5
75 Agricultural 9.4 9.6 9.6 9.7
76 Federal funds sold
to and
repurchase
agreements
with others 13.7 17.0 19.0 21.0
77 All other loans 83.9 87.6 87.7 90.6
78 Lease-financing
receivables 120.0 127.5 127.8 128.7
79 Interbank loans 131.2 131.4 139.5 141.5
80 Federal funds sold to
and
repurchase
agreements
with
commercial
banks 65.8 56.8 62.5 65.6
81 Other 65.3 74.6 77.0 76.0
82 Cash assets(4) 156.2 143.3 140.1 155.4
83 Other assets(5) 223.8 256.8 253.7 253.0
84 Total assets(6) 2,946.2 3,035.4 3,049.0 3,087.9
Liabilities
85 Deposits 1,665.0 1,646.8 1,649.4 1,689.9
86 Transaction 322.4 299.0 298.5 314.8
87 Nontransaction 1,342.6 1,347.8 1,350.8 1,375.1
88 Large time 243.8 257.6 259.2 269.0
89 Other 1,098.8 1,090.1 1,091.6 1,106.1
90 Borrowings 655.4 656.0 661.1 669.1
91 From banks in the U.S. 202.6 193.4 196.8 215.8
92 From nonbanks in the
U.S. 452.8 462.6 464.3 453.3
93 Net due to related
foreign
offices 199.6 212.8 215.4 206.8
94 Other liabilities 161.2 216.1 219.7 219.0
95 Total liabilities 2,681.1 2,731.7 2,745.4 2,784.8
96 Residual (assets less
liabili-
ties)(7) 265.1 303.7 303.6 303.1
Monthly averages
Account 2001
Jan. Feb. Mar. Apr.
Seasonally adjusted
Assets
1 Bank credit 2,571.3 2,582.7 2,590.1 2,610.3
2 Securities in bank
credit 592.2 595.3 591.1 597.5
3 U.S. government
securities 353.3 349.4 338.8 341.7
4 Trading account 34.2 37.5 35.4 33.7
5 Investment
account 319.1 311.9 303.3 308.0
6 Other securities 238.9 245.9 252.3 255.8
7 Trading account 126.0 129.3 132.5 135.9
8 Investment
account 112.9 116.6 119.9 119.9
9 State and local
government 27.1 27.6 28.1 28.4
10 Other 85.8 89.0 91.8 91.5
11 Loans and leases in
bank
credit(2) 1,979.1 1,987.4 1,999.0 2,012.8
12 Commercial and
industrial 599.9 602.9 599.5 596.1
13 Bankers
acceptances .8 .8 .8 .8
14 Other 599.1 602.1 598.8 595.3
15 Real estate 821.7 827.7 835.7 842.2
16 Revolving home
equity 83.6 84.3 85.8 86.4
17 Other 738.1 743.4 749.9 755.8
18 Consumer 236.8 238.8 239.7 240.5
19 Security(3) 57.9 55.7 59.3 70.8
20 Federal funds sold
to and
repurchase
agreements
with
broker-
dealers 41.7 39.4 43.6 53.8
21 Other 16.2 16.2 15.7 17.0
22 State and local
government 12.6 12.6 12.7 12.6
23 Agricultural 9.8 10.0 10.1 10.2
24 Federal funds sold
to and
repurchase
agreements
with others 25.7 26.1 26.0 22.8
25 All other loans 86.2 84.8 85.6 86.6
26 Lease-financing
receivables 128.4 128.8 130.3 131.1
27 Interbank loans 153.6 140.6 136.6 144.4
28 Federal funds sold
to and
repurchase
agreements
with
commercial
banks 78.9 70.3 70.3 81.7
29 Other 74.8 70.3 66.2 62.6
30 Cash assets(4) 146.0 137.3 141.6 145.1
31 Other assets(5) 260.2 262.5 271.4 264.9
32 Total assets(6) 3,093.8 3,085.4 3,102.1 3,126.9
Liabilities
33 Deposits 1,679.9 1,673.3 1,699.5 1,721.1
34 Transaction 300.1 298.0 301.4 302.2
35 Nontransaction 1,379.8 1,375.3 1,398.0 1,418.9
36 Large time 267.0 262.5 264.6 262.5
37 Other 1,112.7 1,112.8 1,133.4 1,156.4
38 Borrowings 676.8 679.5 676.8 705.3
39 From banks in the U.S. 213.9 215.6 219.6 229.8
40 From others 462.9 463.9 457.2 475.5
41 Net due to related
foreign
offices 200.9 197.9 196.4 176.2
42 Other liabilities 231.8 212.2 216.6 206.8
43 Total liabilities 2,789.4 2,763.0 2,789.3 2,809.5
44 Residual (assets less
liabili-
ties)(7) 304.4 322.4 312.8 317.4
Not seasonally adjusted
Assets
45 Bank credit 2,582.3 2,585.5 2,586.6 2,605.9
46 Securities in bank
credit 598.0 599.0 593.0 596.4
47 U.S. government
securities 356.1 353.1 342.4 343.9
48 Trading account 34.5 37.9 35.8 34.0
49 Investment
account 321.6 315.2 306.6 309.9
50 Mortgage-backed
securities 219.7 215.6 214.0 221.4
51 Other 101.9 99.6 92.5 88.6
52 One year or
less 31.4 33.6 33.3 31.7
53 One to five
years 38.4 37.0 34.1 31.2
54 More than five
years 32.0 29.0 25.2 25.7
55 Other securities 241.9 246.0 250.5 252.5
56 Trading account 127.6 129.3 131.5 134.2
57 Investment account 114.3 116.6 119.0 118.4
58 State and local
government 27.5 27.6 27.9 28.0
59 Other 86.8 89.0 91.1 90.3
60 Loans and leases in
bank
credit(2) 1,984.3 1,986.4 1,993.7 2,009.5
61 Commercial and
industrial 596.4 601.7 600.3 600.4
62 Bankers
acceptances .8 .8 .8 .8
63 Other 595.6 601.0 599.5 599.7
64 Real estate 822.4 824.5 829.9 838.2
65 Revolving home
equity 82.8 83.3 84.4 85.5
66 Other 454.5 454.6 459.0 465.6
67 Commercial 285.1 286.5 286.6 287.1
68 Consumer 240.3 240.9 239.4 241.1
69 Credit cards and
related
plans 83.3 83.0 82.5 84.5
70 Other 157.0 157.9 156.9 156.6
71 Security(3) 60.5 57.5 61.1 67.7
72 Federal funds sold
to and
repurchase
agreements
with broker-
dealers 43.6 40.7 44.9 51.4
73 Other 16.9 16.8 16.1 16.2
74 State and local
government 12.6 12.6 12.7 12.6
75 Agricultural 9.8 9.8 9.9 10.0
76 Federal funds sold
to and
repurchase
agreements
with others 25.7 26.1 26.0 22.8
77 All other loans 86.2 83.1 83.7 85.4
78 Lease-financing
receivables 130.4 130.2 130.8 131.2
79 Interbank loans 155.1 139.5 137.7 146.5
80 Federal funds sold to
and
repurchase
agreements
with
commercial
banks 79.6 69.8 70.9 82.9
81 Other 75.6 69.7 66.8 63.6
82 Cash assets(4) 156.9 139.1 136.8 145.3
83 Other assets(5) 260.8 260.7 270.1 265.6
84 Total assets(6) 3,118.0 3,087.1 3,093.5 3,125.8
Liabilities
85 Deposits 1,686.1 1,681.1 1,697.9 1,730.3
86 Transaction 309.1 294.9 297.7 309.5
87 Nontransaction 1,377.0 1,386.2 1,400.2 1,420.7
88 Large time 270.4 265.8 263.1 260.4
89 Other 1,106.7 1,120.4 1,137.1 1,160.3
90 Borrowings 694.0 683.1 675.2 706.0
91 From banks in the U.S. 220.1 220.0 223.2 233.1
92 From nonbanks in the
U.S. 473.9 463.1 452.0 473.0
93 Net due to related
foreign
offices 201.8 200.8 195.2 173.8
94 Other liabilities 232.8 214.8 215.3 203.9
95 Total liabilities 2,814.8 2,779.8 2,783.6 2,814.0
96 Residual (assets less
liabili-
ties)(7) 303.2 307.4 309.9 311.8
Wednesday figures
Account 2001
Apr. 4 Apr. 11 Apr. 18 Apr. 25
Seasonally adjusted
Assets
1 Bank credit 2,601.5 2,610.0 2,606.3 2,613.7
2 Securities in bank
credit 606.0 598.1 592.7 596.8
3 U.S. government
securities 344.0 344.0 333.1 342.9
4 Trading account 41.1 41.7 32.5 26.8
5 Investment
account 302.9 302.3 300.6 316.1
6 Other securities 262.0 254.1 259.5 253.9
7 Trading account 141.5 133.8 140.2 134.9
8 Investment
account 120.5 120.2 119.3 119.0
9 State and local
government 28.4 28.4 28.5 28.5
10 Other 92.1 91.9 90.8 90.5
11 Loans and leases in
bank
credit(2) 1,995.4 2,012.0 2,013.7 2,016.9
12 Commercial and
industrial 592.5 594.7 596.6 598.2
13 Bankers
acceptances .8 .8 .8 .8
14 Other 591.7 594.0 595.8 597.4
15 Real estate 838.5 846.1 841.8 838.4
16 Revolving home
equity 85.9 86.1 86.3 86.8
17 Other 752.6 760.0 755.5 751.6
18 Consumer 239.7 239.9 241.4 241.0
19 Security(3) 65.4 70.0 72.7 70.4
20 Federal funds sold
to and
repurchase
agreements
with
broker-
dealers 48.9 53.4 57.2 52.6
21 Other 16.5 16.5 15.5 17.8
22 State and local
government 12.6 12.6 12.6 12.6
23 Agricultural 10.1 10.1 10.0 10.2
24 Federal funds sold
to and
repurchase
agreements
with others 21.9 24.8 22.0 21.1
25 All other loans 84.1 83.0 85.4 93.6
26 Lease-financing
receivables 130.6 130.8 131.2 131.4
27 Interbank loans 141.7 144.4 146.1 149.3
28 Federal funds sold
to and
repurchase
agreements
with
commercial
banks 79.8 79.9 82.7 88.0
29 Other 62.0 64.5 63.5 61.3
30 Cash assets(4) 137.5 143.6 153.8 139.2
31 Other assets(5) 263.4 258.5 258.1 275.8
32 Total assets(6) 3,106.3 3,118.7 3,126.7 3,140.2
Liabilities
33 Deposits 1,724.6 1,719.5 1,728.9 1,713.7
34 Transaction 290.1 294.6 302.9 320.8
35 Nontransaction 1,434.5 1,425.0 1,426.0 1,392.9
36 Large time 269.4 265.3 261.8 257.7
37 Other 1,165.1 1,159.7 1,164.2 1,135.2
38 Borrowings 698.6 708.4 696.3 713.3
39 From banks in the U.S. 233.8 242.5 223.5 231.2
40 From others 464.7 465.9 470.8 482.2
41 Net due to related
foreign
offices 157.8 166.7 177.1 186.0
42 Other liabilities 215.2 212.1 213.3 196.4
43 Total liabilities 2,796.2 2,806.7 2,815.6 2,809.4
44 Residual (assets less
liabili-
ties)(7) 310.1 312.0 311.1 330.8
Not seasonally adjusted
Assets
45 Bank credit 2,597.9 2,603.1 2,606.6 2,603.1
46 Securities in bank
credit 607.3 599.1 592.7 592.0
47 U.S. government
securities 349.3 348.9 336.2 341.9
48 Trading account 41.7 42.3 32.8 26.7
49 Investment
account 307.6 306.6 303.4 315.2
50 Mortgage-backed
securities 215.7 215.4 214.1 229.8
51 Other 91.9 91.2 89.3 85.3
52 One year or
less 34.0 32.8 31.2 29.8
53 One to five
years 33.3 33.9 32.1 29.2
54 More than five
years 24.7 24.5 26.0 26.3
55 Other securities 258.0 250.2 256.5 250.1
56 Trading account 139.3 131.8 138.6 132.9
57 Investment account 118.7 118.4 117.9 117.3
58 State and local
government 28.0 27.9 28.1 28.1
59 Other 90.7 90.5 89.8 89.1
60 Loans and leases in
bank
credit(2) 1,990.6 2,004.0 2,013.9 2,011.1
61 Commercial and
industrial 596.6 596.7 602.3 602.1
62 Bankers
acceptances .8 .8 .8 .8
63 Other 595.8 595.9 601.5 601.3
64 Real estate 832.9 841.8 837.6 834.5
65 Revolving home
equity 84.4 84.6 85.5 86.3
66 Other 462.5 471.0 465.1 460.3
67 Commercial 286.0 286.2 287.1 287.9
68 Consumer 239.1 239.8 242.1 242.3
69 Credit cards and
related
plans 82.9 83.4 84.9 85.5
70 Other 156.2 156.4 157.2 156.8
71 Security(3) 61.4 66.2 71.6 66.5
72 Federal funds sold
to and
repurchase
agreements
with broker-
dealers 45.9 50.5 56.3 49.6
73 Other 15.5 15.7 15.3 16.8
74 State and local
government 12.6 12.6 12.6 12.6
75 Agricultural 9.9 9.9 9.9 10.1
76 Federal funds sold
to and
repurchase
agreements
with others 21.9 24.8 22.0 21.1
77 All other loans 85.2 81.2 84.6 90.8
78 Lease-financing
receivables 131.1 131.1 131.2 131.1
79 Interbank loans 145.3 144.4 150.0 148.8
80 Federal funds sold to
and
repurchase
agreements
with
commercial
banks 81.8 79.9 84.8 87.7
81 Other 63.5 64.5 65.1 61.1
82 Cash assets(4) 136.3 138.9 159.5 137.1
83 Other assets(5) 267.8 259.6 259.1 272.9
84 Total assets(6) 3,109.8 3,108.4 3,137.6 3,124.4
Liabilities
85 Deposits 1,741.9 1,737.3 1,749.8 1,702.6
86 Transaction 299.4 300.9 319.1 319.1
87 Nontransaction 1,442.5 1,436.5 1,430.7 1,383.5
88 Large time 266.7 263.9 260.2 255.1
89 Other 1,175.8 1,172.5 1,170.4 1,128.4
90 Borrowings 689.8 693.5 697.9 723.2
91 From banks in the U.S. 236.1 241.8 229.3 235.9
92 From nonbanks in the
U.S. 453.7 451.7 468.6 487.3
93 Net due to related
foreign
offices 154.7 160.5 171.2 187.8
94 Other liabilities 212.0 205.1 207.0 197.8
95 Total liabilities 2,798.4 2,796.5 2,825.9 2,811.4
96 Residual (assets less
liabili-
ties)(7) 311.4 311.8 311.7 313.0
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2000 2000(r)
Apr.(r) Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 1,900.7 2,022.8 2,042.5 2,063.4
2 Securities in bank
credit 515.1 537.1 542.2 549.6
3 U.S. government
securities 373.1 368.9 369.3 367.5
4 Other securities 142.1 168.3 172.9 182.1
5 Loans and leases in
bank credit(2) 1385.5 1,485.7 1,500.3 1,513.8
6 Commercial and
industrial 266.3 287.6 290.1 290.8
7 Real estate 746.7 802.4 811.7 818.5
8 Revolving home
equity 39.3 45.5 46.1 47.0
9 Other 707.5 757.0 765.6 771.5
10 Consumer 278.7 295.1 297.5 300.7
11 Security(3) 6.4 6.9 6.7 7.1
12 Other loans and
leases 87.5 93.7 94.3 96.8
13 Interbank loans 65.9 82.5 80.4 87.5
14 Cash assets(4) 79.1 81.2 78.6 83.2
15 Other assets(5) 108.0 112.5 108.7 112.4
16 Total assets(6) 2,129.3 2,272.8 2,283.6 2,319.6
Liabilities
17 Deposits 1,585.0 1,752.6 1,759.3 1,795.6
18 Transaction 301.9 295.9 294.2 294.3
19 Nontransaction 1,283.1 1,456.7 1,465.1 1,501.2
20 Large time 252.0 289.3 292.8 298.7
21 Other 1,031.1 1,167.3 1,172.3 1,202.5
22 Borrowings 331.8 329.9 327.3 336.6
23 From banks in the U.S. 155.8 156.9 154.1 160.5
24 From others 176.0 173.0 173.2 176.0
25 Net due to related
foreign offices 5.3 23.4 23.7 20.9
26 Other liabilities 57.2 52.1 53.9 54.1
27 Total liabilities 1,979.4 2,158.0 2,164.1 2,207.2
28 Residual (assets less
liabilities)(7) 149.9 114.8 119.5 112.5
Not seasonally adjusted
Assets
29 Bank credit 1,901.7 2,024.2 2,043.2 2,067.9
30 Securities in bank
credit 517.9 534.7 540.4 548.7
31 U.S. government
securities 375.8 366.4 367.5 366.7
32 Other securities 142.1 168.3 172.9 182.1
33 Loans and leases in
bank credit(2) 1,383.8 1,489.5 1,502.8 1,519.1
34 Commercial and
industrial 267.9 287.2 289.4 291.6
35 Real estate 746.6 803.3 812.1 818.5
36 Revolving home
equity 39.2 45.7 46.4 47.1
37 Other 707.3 757.6 765.7 771.4
38 Consumer 276.3 297.1 299.5 304.5
39 Credit cards and
related plans n.a. 130.2 131.9 136.4
40 Other n.a. 166.9 167.6 168.0
41 Security(3) 6.4 7.0 7.0 7.3
42 Other loans and
leases 86.6 94.9 94.8 97.2
43 Interbank loans 68.0 83.6 86.3 92.4
44 Cash assets(4) 77.0 81.7 82.4 88.4
45 Other assets(5) 108.0 112.5 108.7 112.4
46 Total assets(6) 2,130.3 2,275.8 2,294.1 2,334.1
Liabilities
47 Deposits 1,590.9 1,753.5 1,771.4 1,813.6
48 Transaction 301.9 295.3 297.9 305.1
49 Nontransaction 1,289.0 1,458.2 1,473.5 1,508.6
50 Large time 252.0 289.3 292.8 298.7
51 Other 1,037.0 1,168.9 1,180.7 1,209.8
52 Borrowings 331.8 329.9 327.3 336.6
53 From banks in the U.S. 155.8 156.9 154.1 160.5
54 From others 176.0 173.0 173.2 176.0
55 Net due to related
foreign offices 5.3 23.4 23.7 20.9
56 Other liabilities 57.2 52.1 53.9 54.1
57 Total liabilities 1,985.2 2,159.0 2,176.2 2,225.2
58 Residual (assets less
liabilities)(7) 145.1 116.8 117.9 108.9
Monthly averages
Account 2001
Jan. Feb.(r) Mar.(r) Apr.
Seasonally adjusted
Assets
1 Bank credit 2,081.0(r) 2,087.9 2,078.7 2,083.1
2 Securities in bank
credit 555.9(r) 556.6 548.6 548.8
3 U.S. government
securities 366.5(r) 363.9 351.8 350.0
4 Other securities 189.4(r) 192.8 196.8 198.9
5 Loans and leases in
bank credit(2) 1,525.1 1,531.3 1,530.1 1,534.3
6 Commercial and
industrial 295.4 297.4 298.2 297.4
7 Real estate 820.4 825.0 824.9 825.1
8 Revolving home
equity 47.6 48.0 48.0 48.3
9 Other 772.8 777.0 776.9 776.7
10 Consumer 304.0 301.6 298.6 301.3
11 Security(3) 7.2 7.6 8.1 8.6
12 Other loans and
leases 98.0 99.6 100.3 101.9
13 Interbank loans 87.3 97.5 107.8 118.3
14 Cash assets(4) 85.5(r) 86.1 85.7 86.6
15 Other assets(5) 114.8(r) 115.0 120.4 123.8
16 Total assets(6) 2,341.7 2,359.6 2,365.8 2,384.7
Liabilities
17 Deposits 1,825.5 1,836.7 1,846.6 1,870.8
18 Transaction 297.9(r) 299.3 296.1 298.9
19 Nontransaction 1,527.6 1,537.3 1,550.4 1,571.9
20 Large time 300.5 306.3 303.1 303.2
21 Other 1,227.1 1,231.1 1,247.3 1,268.7
22 Borrowings 343.9 341.3 333.4 336.8
23 From banks in the U.S. 158.2(r) 158.1 151.8 152.4
24 From others 185.8(r) 183.2 181.6 184.4
25 Net due to related
foreign offices 16.8 16.7 15.4 12.8
26 Other liabilities 53.4 53.8 56.0 56.3
27 Total liabilities 2,239.6 2,248.5 2,251.4 2,276.7
28 Residual (assets less
liabilities)(7) 102.1 111.1 114.4 108.0
Not seasonally adjusted
Assets
29 Bank credit 2,076.7(r) 2,076.8 2,074.3 2,082.8
30 Securities in bank
credit 555.3(r) 554.7 550.9 551.5
31 U.S. government
securities 365.9(r) 361.9 354.1 352.7
32 Other securities 189.4(r) 192.8 196.8 198.9
33 Loans and leases in
bank credit(2) 1,521.4 1,522.2 1,523.5 1,531.3
34 Commercial and
industrial 294.5 295.7 297.8 299.5
35 Real estate 818.9 821.7 823.3 824.7
36 Revolving home
equity 47.6 47.8 47.9 48.3
37 Other 771.3 773.9 775.4 776.4
38 Consumer 304.8 300.0 295.1 297.6
39 Credit cards and
related plans 135.5 130.9 127.1 130.2
40 Other 169.3 169.2 168.0 167.4
41 Security(3) 7.1 7.6 8.4 8.7
42 Other loans and
leases 96.1 97.0 98.9 100.8
43 Interbank loans 87.8 100.4 114.0 122.2
44 Cash assets(4) 88.1(r) 85.1 82.1 83.7
45 Other assets(5) 114.8(r) 115.0 120.4 123.8
46 Total assets(6) 2,340.5 2,350.5 2,364.0 2,385.5
Liabilities
47 Deposits 1,824.2 1,837.6 1,854.0 1,878.0
48 Transaction 300.5(r) 294.5 294.1 298.4
49 Nontransaction 1,523.7(r) 1,543.2 1,559.9 1,579.7
50 Large time 300.5 306.3 303.1 303.2
51 Other 1,223.2(r) 1,236.9 1,256.8 1,276.5
52 Borrowings 343.9 341.3 333.4 336.8
53 From banks in the U.S. 158.2(r) 158.1 151.8 152.4
54 From others 185.8(r) 183.2 181.6 184.4
55 Net due to related
foreign offices 16.8 16.7 15.4 12.8
56 Other liabilities 53.4 53.8 56.0 56.3
57 Total liabilities
2,238.3 2,249.4 2,258.8 2,284.0
58 Residual (assets less
liabilities)(7) 102.2 101.1 105.2 101.5
Wednesday figures
Account 2001
Apr. 4 Apr. 11 Apr. 18 Apr. 25
Seasonally adjusted
Assets
1 Bank credit 2,077.2 2,080.0 2,085.7 2,082.8
2 Securities in bank
credit 546.9 548.5 549.9 548.6
3 U.S. government
securities 349.4 350.2 350.8 349.5
4 Other securities 197.5 198.3 199.2 199.1
5 Loans and leases in
bank credit(2) 1,530.3 1,531.5 1,535.8 1,534.2
6 Commercial and
industrial 298.1 297.7 298.2 296.0
7 Real estate 823.6 825.1 824.9 824.4
8 Revolving home
equity 48.1 48.2 48.3 48.2
9 Other 775.4 776.9 776.5 776.1
10 Consumer 299.8 300.1 302.2 301.7
11 Security(3) 8.3 8.2 8.6 9.0
12 Other loans and
leases 100.6 100.4 101.9 103.1
13 Interbank loans 112.1 109.5 116.8 128.6
14 Cash assets(4) 86.7 85.5 85.1 87.2
15 Other assets(5) 125.8 123.7 121.7 124.2
16 Total assets(6) 2,374.9 2,371.8 2,382.3 2,395.6
Liabilities
17 Deposits 1,864.1 1,863.7 1,872.9 1,875.0
18 Transaction 287.6 290.6 300.7 316.9
19 Nontransaction 1,576.5 1,573.1 1,572.2 1,558.1
20 Large time 303.9 303.9 301.8 303.4
21 Other 1,272.6 1,269.2 1,270.4 1,254.7
22 Borrowings 333.2 330.7 337.6 339.4
23 From banks in the U.S. 149.2 148.5 154.1 155.5
24 From others 184.1 182.2 183.5 183.9
25 Net due to related
foreign offices 9.9 12.5 10.6 15.8
26 Other liabilities 56.6 56.4 56.3 56.4
27 Total liabilities 2,264.0 2,263.3 2,277.5 2,286.6
28 Residual (assets less
liabilities)(7) 110.9 108.6 104.8 109.0
Not seasonally adjusted
Assets
29 Bank credit 2,075.8 2,079.5 2,086.3 2,082.7
30 Securities in bank
credit 550.1 551.5 552.6 551.3
31 U.S. government
securities 352.6 353.2 353.5 352.2
32 Other securities 197.5 198.3 199.2 199.1
33 Loans and leases in
bank credit(2) 1,525.7 1,528.0 1,533.7 1,531.5
34 Commercial and
industrial 298.5 298.8 300.7 299.1
35 Real estate 822.7 824.5 824.6 824.3
36 Revolving home
equity 47.9 48.0 48.3 48.4
37 Other 774.8 776.6 776.4 775.9
38 Consumer 295.0 295.3 298.2 299.2
39 Credit cards and
related plans 128.0 127.8 130.3 132.2
40 Other 167.0 167.6 167.9 167.0
41 Security(3) 9.0 8.9 8.8 8.4
42 Other loans and
leases 100.5 100.4 101.3 100.4
43 Interbank loans 127.5 126.3 124.7 117.7
44 Cash assets(4) 85.1 82.2 83.2 81.5
45 Other assets(5) 125.8 123.7 121.7 124.2
46 Total assets(6) 2,387.3 2,384.8 2,388.8 2,379.0
Liabilities
47 Deposits 1,884.9 1,884.1 1,884.1 1,864.9
48 Transaction 292.5 293.8 304.0 307.4
49 Nontransaction 1,592.4 1,590.3 1,580.2 1,557.5
50 Large time 303.9 303.9 301.8 303.4
51 Other 1,288.5 1,286.3 1,278.3 1,254.1
52 Borrowings 333.2 330.7 337.6 339.4
53 From banks in the U.S. 149.2 148.5 154.1 155.5
54 From others 184.1 182.2 183.5 183.9
55 Net due to related
foreign offices 9.9 12.5 10.6 15.8
56 Other liabilities 56.6 56.4 56.3 56.4
57 Total liabilities
2,284.7 2,283.7 2,288.7 2,276.5
58 Residual (assets less
liabilities)(7) 102.7 101.1 100.1 102.5
E. Foreign-related institutions
Billion of dollars
Monthly Averages
Account 2000 2000(r)
Apr.(r) Oct. Nov. Dec.
Seasonally adjusted
Assets
1 Bank credit 569.5 587.4 588.1 599.5
2 Securities in bank
credit 204.7 201.8 195.5 205.1
3 U.S. government
securities 80.2 70.0 68.1 69.3
4 Other securities 124.5 131.8 127.5 135.8
5 Loans and leases in
bank credit(2) 364.7 385.6 392.6 394.4
6 Commercial and
industrial 200.2 203.7 206.1 209.0
7 Real estate 17.3 18.1 18.5 18.6
8 Security(3) 78.5 96.7 100.3 100.1
9 Other loans and
leases 68.6 67.1 67.7 66.7
10 Interbank loans 28.9 27.0 26.8 27.0
11 Cash assets(4) 46.1 42.1 38.5 39.9
12 Other assets(5) 39.5 41.3 40.0 36.1
13 Total assets(6) 683.7 697.4 693.1 702.2
Liabilities
14 Deposits 386.3 378.9 377.2 378.3
15 Transaction 11.0 10.7 10.8 10.7
16 Nontransaction 375.3 368.2 366.4 367.6
17 Borrowings 199.2 221.0 223.0 239.4
18 From banks in the
U.S. 21.0 19.0 18.6 22.2
19 From others 178.3 202.1 204.4 217.2
20 Net due to related
foreign offices 15.6 16.5 7.3 -1.9
21 Other liabilities 77.3 79.7 75.4 72.3
22 Total liabilities 678.4 696.1 682.8 688.1
23 Residual (assets less
liabilities)(7) 5.3 1.3 10.2 14.1
Not seasonally adjusted
Assets
24 Bank credit 567.6 591.4 590.8 610.2
25 Securities in bank
credit 204.7 201.8 195.5 205.1
26 U.S. government
securities 80.2 70.0 68.1 69.3
27 Trading account 11.8 11.8 10.9 11.8
28 Investment
account 68.4 58.2 57.2 57.5
29 Other securities 124.5 131.8 127.5 135.8
30 Trading account 80.5 90.5 88.0 90.6
31 Investment
account 44.0 41.3 39.4 45.2
32 Loans and leases in
bank credit(2) 362.8 389.7 395.3 405.1
33 Commercial and
industrial 198.7 203.9 206.7 211.3
34 Real estate 17.3 18.1 18.5 18.6
35 Security(3) 77.9 100.9 101.8 106.2
36 Other loans and
leases 68.9 66.7 68.2 69.0
37 Interbank loans 28.9 27.0 26.8 27.0
38 Cash assets(4) 44.3 42.9 40.6 42.7
39 Other assets(5) 38.6 40.7 40.0 37.9
40 Total assets(6) 679.1 701.7 697.9 717.5
Liabilities
41 Deposits 389.1 372.7 379.9 388.9
42 Transaction 10.5 10.8 11.0 11.4
43 Nontransaction 378.7 361.9 368.9 377.6
44 Borrowings 199.2 221.0 223.0 239.4
45 From banks in the
U.S. 21.0 19.0 18.6 22.2
46 From others 178.3 202.1 204.4 217.2
47 Net due to related
foreign offices 11.3 16.7 7.6 2.9
48 Other liabilities 75.4 79.8 75.6 74.4
49 Total liabilities 675.0 690.3 686.0 705.6
50 Residual (assets less 4.1 11.4 11.8 11.8
liabilities)(7)
Monthly Averages
Account 2001
Jan. Feb. Mar. Apr.
Seasonally adjusted
Assets
1 Bank credit 614.8 610.4 620.3 616.8
2 Securities in bank
credit 208.9 199.9 205.4 214.7
3 U.S. government
securities 67.3 64.5 67.8 75.0
4 Other securities 141.6 135.3 137.6 139.7
5 Loans and leases in
bank credit(2) 405.9 410.5 414.9 402.1
6 Commercial and
industrial 214.5 218.2 220.2 220.7
7 Real estate 18.9 18.7 18.4 18.1
8 Security(3) 105.2 105.8 106.4 95.4
9 Other loans and
leases 67.2 67.8 69.8 67.9
10 Interbank loans 29.2 28.5 30.6 29.4
11 Cash assets(4) 41.6 41.9 40.7 39.3
12 Other assets(5) 37.1 36.6 38.3 40.9
13 Total assets(6) 722.3 717.1 729.6(r) 726.0
Liabilities
14 Deposits 385.9 379.1 377.4 392.5
15 Transaction 10.7 10.3 9.4 10.5
16 Nontransaction 375.3 368.9 368.0 382.0
17 Borrowings 241.6 237.2 233.5(r) 236.0
18 From banks in the
U.S. 25.1 22.3 24.2(r) 23.5
19 From others 216.5 214.8 209.3(r) 212.5
20 Net due to related
foreign offices 3.5 4.7 21.8(r) 4.2
21 Other liabilities 77.5 77.4 82.9 88.2
22 Total liabilities 708.6 698.4 715.6 720.9
23 Residual (assets less
liabilities)(7) 13.7 18.7 14.0(r) 5.1
Not seasonally adjusted
Assets
24 Bank credit 622.9 613.6 615.5 613.9
25 Securities in bank
credit 208.9 199.9 205.4 214.7
26 U.S. government
securities 67.3 64.5 67.8 75.0
27 Trading account 11.2 10.5 9.5(r) 14.2
28 Investment
account 56.1 54.1 58.3(r) 60.8
29 Other securities 141.6 135.3 137.6 139.7
30 Trading account 95.8 91.2 94.4 96.6
31 Investment
account 45.8 44.1 43.2 43.1
32 Loans and leases in
bank credit(2) 414.0 413.8 410.1(r) 399.2
33 Commercial and
industrial 216.2 220.4 221.3 219.0
34 Real estate 18.9 18.7 18.4 18.1
35 Security(3) 110.5 106.8 100.5 94.0
36 Other loans and
leases 68.3 67.9 69.8 68.2
37 Interbank loans 29.2 28.5 30.6 29.4
38 Cash assets(4) 44.2 42.0 39.3 37.7
39 Other assets(5) 38.3 37.6 38.9 40.0
40 Total assets(6) 734.2 721.5(r) 724.0(r) 720.7
Liabilities
41 Deposits 395.8 387.3 381.9 395.4
42 Transaction 10.9 10.0 9.2 10.0
43 Nontransaction 385.0 377.2 372.7 385.4
44 Borrowings 241.6 237.2 233.5(r) 236.0
45 From banks in the
U.S. 25.1 22.3 24.2(r) 23.5
46 From others 216.5 214.8 209.3(r) 212.5
47 Net due to related
foreign offices 6.8 8.0 22.0(r) -.4
48 Other liabilities 78.9 78.8 82.9 86.1
49 Total liabilities 723.2(r) 711.3 720.3 717.1
50 Residual (assets less
liabilities)(7) 11.1 10.1 3.7 3.6
Wednesday figures
Account 2001
Apr. 4 Apr. 11 Apr. 18 Apr. 25
Seasonally adjusted
Assets
1 Bank credit 625.8 631.0 611.6 614.5
2 Securities in bank
credit 214.8 215.4 212.3 218.2
3 U.S. government
securities 74.4 74.6 72.7 80.3
4 Other securities 140.4 140.8 139.6 137.9
5 Loans and leases in
bank credit(2) 411.0 415.6 399.3 396.3
6 Commercial and
industrial 218.9 221.8 220.6 221.5
7 Real estate 18.0 18.4 18.2 17.9
8 Security(3) 106.2 107.0 92.9 89.1
9 Other loans and
leases 67.9 68.5 67.6 67.8
10 Interbank loans 28.1 28.3 30.7 30.0
11 Cash assets(4) 42.0 39.9 39.0 38.9
12 Other assets(5) 42.4 40.8 43.3 40.5
13 Total assets(6) 737.8 739.6 724.2 723.5
Liabilities
14 Deposits 393.4 391.0 395.7 398.1
15 Transaction 9.9 11.0 10.2 10.6
16 Nontransaction 383.5 380.0 385.4 387.5
17 Borrowings 238.7 244.1 244.5 231.3
18 From banks in the
U.S. 25.5 21.5 26.4 25.1
19 From others 213.3 222.6 218.1 206.3
20 Net due to related
foreign offices -.7 3.1 -1.6 8.6
21 Other liabilities 87.7 87.2 87.5 91.6
22 Total liabilities 719.1 725.4 726.0 729.7
23 Residual (assets less 18.7 14.2 -1.8 -6.2
liabilities)(7)
Not seasonally adjusted
Assets
24 Bank credit 614.7 621.1 615.7 614.8
25 Securities in bank
credit 214.8 215.4 212.3 218.2
26 U.S. government
securities 74.4 74.6 72.7 80.3
27 Trading account 12.6 13.2 12.4 19.1
28 Investment
account 61.8 61.4 60.3 61.2
29 Other securities 140.4 140.8 139.6 137.9
30 Trading account 97.6 97.8 96.3 94.9
31 Investment
account 42.8 43.1 43.4 43.0
32 Loans and leases in
bank credit(2) 399.9 405.7 403.4 396.6
33 Commercial and
industrial 219.1 219.6 219.7 218.9
34 Real estate 18.0 18.4 18.2 17.9
35 Security(3) 94.9 99.3 97.3 91.5
36 Other loans and
leases 67.9 68.4 68.3 68.3
37 Interbank loans 28.1 28.3 30.7 30.0
38 Cash assets(4) 40.3 37.9 37.5 37.3
39 Other assets(5) 41.9 40.0 42.2 39.3
40 Total assets(6) 724.5 726.9 725.8 721.0
Liabilities
41 Deposits 396.2 391.9 397.6 402.2
42 Transaction 9.6 10.3 9.6 10.0
43 Nontransaction 386.5 381.6 387.9 392.2
44 Borrowings 238.7 244.1 244.5 231.3
45 From banks in the
U.S. 25.5 21.5 26.4 25.1
46 From others 213.3 222.6 218.1 206.3
47 Net due to related
foreign offices -1.5 .9 -5.7 -2.3
48 Other liabilities 87.3 86.2 85.6 86.7
49 Total liabilities 720.7 723.1 721.9 717.9
50 Residual (assets less
liabilities)(7) 3.8 3.8 3.9 3.1
F. Memo items
Billions of dollars
Monthly averages
Account 2000 2000
Apr.(r) Oct. Nov. Dec.
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on off-
balance-sheet items(8) 65.1 70.9 68.0 77.8
2 Revaluation losses on
off-balance-sheet
items(8) 65.0 72.8 72.6 83.1
3 Mortgage-backed
securities(9) 256.5 240.5 240.6 242.6
4 Pass-through 180.2 173.9 174.3 177.5
5 CMO, REMIC, and other 76.3 66.6 66.4 65.0
6 Net unrealized gains
(losses) on available-
for-sale securities(10) -16.3 -4.2 -1.2 1.4
7 Off-shore credit to U.S.
residents(11) 24.4 22.3 23.1 23.4
8 Securitized consumer
loans(12) n.a. 80.8 80.5 82.2
9 Credit cards and related
plans n.a. 67.2 67.3 68.6
10 Other n.a. 13.6 13.2 13.6
11 Securitized business
loans(12) n.a. 15.2 17.8 18.6
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities(9) 205.3 211.6 213.0 214.5
13 Securitized consumer
loans(12) n.a. 224.5 225.6 231.1
14 Credit cards and related
plans n.a. 215.2 216.1 221.9
15 Other n.a. 9.3 9.5 9.1
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items(8) 44.5 47.3 44.6 45.5
17 Revaluation losses on
off-balance-sheet
items(8) 40.8 44.7 40.8 41.3
18 Securitized business
loans(12) n.a. 23.0 22.8 23.1
Monthly averages
Account 2001
Jan. Feb. Mar. Apr.
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on off-
balance-sheet items(8) 79.5 77.6 80.6 79.6
2 Revaluation losses on
off-balance-sheet
items(8) 82.5 81.0 79.8 74.9
3 Mortgage-backed
securities(9) 248.0 244.5 244.8 252.2
4 Pass-through 182.8 179.5 181.5 190.3
5 CMO, REMIC, and other 65.2 65.0 63.3 61.8
6 Net unrealized gains
(losses) on available-
for-sale securities(10) -2.5 -.6 -.3 -.3
7 Off-shore credit to U.S.
residents(11) 23.0 22.7 22.6 21.7
8 Securitized consumer
loans(12) 82.4 80.8 80.2 79.0
9 Credit cards and related
plans 68.5 67.3 67.3 66.6
10 Other 13.9 13.4 12.9 12.4
11 Securitized business
loans(12) 18.4 18.6 18.7 18.8
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities(9) 218.0 222.3 228.7(r) 237.3
13 Securitized consumer
loans(12) 231.4 235.6 238.5 239.9
14 Credit cards and related
plans 222.4 226.8 229.9 232.6
15 Other 9.0 8.8 8.5 7.3
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items(8) 50.8 49.6 52.4 54.1
17 Revaluation losses on
off-balance-sheet
items(8) 46.9 47.4 49.9 50.9
18 Securitized business
loans(12) 23.2 22.4 21.5 19.8
Wednesday figures
Account 2001
Apr. 4 Apr. 11 Apr. 18 Apr. 25
Not seasonally adjusted
MEMO
Large domestically
chartered banks,
adjusted for mergers
1 Revaluation gains on off-
balance-sheet items(8) 87.7 76.9 84.3 76.2
2 Revaluation losses on
off-balance-sheet
items(8) 87.6 75.8 77.4 68.9
3 Mortgage-backed
securities(9) 246.6 246.1 244.7 260.5
4 Pass-through 186.3 185.1 184.1 198.0
5 CMO, REMIC, and other 60.3 61.0 60.6 62.4
6 Net unrealized gains
(losses) on available-
for-sale securities(10) .0 .0 .0 -.3
7 Off-shore credit to U.S.
residents(11) 21.6 21.8 21.5 21.9
8 Securitized consumer
loans(12) 79.5 79.5 78.6 78.4
9 Credit cards and related
plans 67.0 66.9 66.1 66.0
10 Other 12.6 12.5 12.4 12.4
11 Securitized business
loans(12) 18.7 18.6 18.6 18.6
Small domestically
chartered commercial
banks, adjusted for
mergers
12 Mortgage-backed
securities(9) 235.0 236.7 236.9 237.6
13 Securitized consumer
loans(12) 240.0 241.2 240.4 238.7
14 Credit cards and related
plans 231.6 232.7 231.9 233.2
15 Other 8.4 8.5 8.5 5.5
Foreign-related
institutions
16 Revaluation gains on
off-balance-sheet
items(8) 54.5 54.1 54.3 53.3
17 Revaluation losses on
off-balance-sheet
items(8) 51.7 51.0 51.2 50.2
18 Securitized business
loans(12) 20.6 20.3 20.2 19.4
NOTE. Tables 1.26, 1.27, and 1.28 have been revised to reflect
changes in the Board's H.8 statistical release, "Assets and
Liabilities of Commercial Banks in the United States." Table
1.27, "Assets and Liabilities of Large Weekly Reporting Commercial
Banks," and table 1.28, "Large Weekly Reporting U.S. Branches and
Agencies of Foreign Banks," are no longer being published in the
Bulletin. Instead, abbreviated balance sheets for both large and
small domestically chartered banks have been included in table
1.26, parts C and D. Data are both merger-adjusted and
break-adjusted. In addition, data from large weekly reporting U.S.
branches and agencies of foreign banks have been replaced by
balance sheet estimates of all foreign-related institutions and
are included in table 1.26, part E. These data are break-adjusted.
The not-seasonally-adjusted data for all tables now contain
additional balance sheet items, which were available as of
October 2, 1996.
(1.) Covers the following types of institutions in the fifty
states and the District of Columbia: domestically chartered
commercial banks that submit a weekly report of condition
(large domestic); other domestically chartered commercial
banks (small domestic); branches and agencies of foreign
banks, and Edge Act and agreement corporations (foreign-related
institutions). Excludes International Banking Facilities. Data
are Wednesday values or pro rata averages of Wednesday values.
Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates
based on weekly samples and on quarter-end condition reports.
Data are adjusted for breaks caused by reclassifications
of assets and liabilities.
The data for large and small domestic banks presented on pp.
A17-19 are adjusted to remove the estimated effects of mergers
between these two groups. The adjustment for mergers changes
past levels to make them comparable with current levels.
Estimated quantities of balance sheet items acquired in mergers
are removed from past data for the bank group that contained
the acquired bank and put into past data for the group containing
the acquiring bank. Balance sheet data for acquired banks are
obtained from Call Reports, and a ratio procedure is used to
adjust past levels.
(2.) Excludes federal funds sold to, reverse RPs with, and loans
made to commercial banks in the United States, all of which are
included in "Interbank loans."
(3.) Consists of reverse RPs with brokers and dealers and loans
made to purchase and carry securities.
(4.) Includes vault cash, cash items in process of collection,
balances due from depository institutions, and balances due
from Federal Reserve Banks.
(5.) Excludes the due-from position with related foreign
offices, which is included in "Net due to related foreign offices."
(6.) Excludes unearned income, reserves for losses on loans and
leases, and reserves for transfer risk. Loans are reported gross
of these items.
(7.) This balancing item is not intended as a measure of equity
capital for use in capital adequacy analysis. On a seasonally
adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total liabilities.
(8.) Fair value of derivative contracts (interest rate, foreign
exchange rate, other commodity and equity contracts) in a gain/loss
position, as determined under FASB Interpretation No. 39.
(9.) Includes mortgage-backed securities issued by U.S. government
agencies, U.S. government-sponsored enterprises, and private entities.
(10.) Difference between fair value and historical cost for securities
classified as available-for-sale under FASB Statement No. 115. Data
are reported net of tax effects. Data shown are restated to include
an estimate of these tax effects.
(11.) Mainly commercial and industrial loans but also includes an
unknown amount of credit extended to other than nonfinancial
businesses.
(12.) Total amount outstanding.
1.32 COMMERCIAL PAPER AND BANKERS DOLLAR ACCEPTANCES OUTSTANDING
A. Commercial Paper
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item
1996 1997 1998 1999
1 All issuers 775,371 966,699 1,163,303 1,403,023
Financial
companies(1)
2 Dealer-placed
paper, total(2) 361,147 513,307 614,142 786,643
3 Directly placed
paper, total(3) 229,662 252,536 322,030 337,240
4 Nonfinancial
companies(4) 184,563 200,857 227,132 279,140
Year
ending 2000
December
Item
2000 Oct. Nov. Dec.
1 All issuers 1,615,341 1,587,591 1,624,421 1,615,341
Financial
companies(1)
2 Dealer-placed
paper, total(2) 973,060 912,739 960,701 973,060
3 Directly placed
paper, total(3) 298,848 328,049 312,438 298,848
4 Nonfinancial
companies(4) 343,433 346,803 351,282 343,433
2001
Item
Jan. Feb. Mar.
1 All issuers 1,566,104 1,544,572 1,511,354
Financial
companies(1)
2 Dealer-placed
paper, total(2) 976,735 977,791 978,225
3 Directly placed
paper, total(3) 270,922 263,554 249,420
4 Nonfinancial
companies(4) 318,447 303,227 283,711
(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 commerical
banks (domestic and foreign offices), U.S. branches and agencies
of foreign banks, and Edge and agreement corporations. The
reporting group is revised every year.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans(1)
Percent per year
Date of change Rate
1998--Jan. 1 8.50
Sept. 30 8.25
Oct. 16 8.00
Nov. 18 7.75
1999--July 1 8.00
Aug. 25 8.25
Nov. 17 8.50
2000--Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
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
Apr. 7.80
May 7.24
(1.) The prime rate is one of several base rates that banks use to
price short-term business loans. The table shows the date on which
a new rate came to be the predominant one quoted by a majority of
the twenty-five largest banks by asset size, based on the most
recent Call Report. Data in this table also appear in the Board's
H.15 (519) weekly and G.13 (415) monthly statistical releases.
For ordering address, see inside front cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are averages of
business day data unless otherwise noted
2001
Item 1998 1999 2000
Jan.
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.35 4.97 6.24 5.98
2 Discount window
borrowing(2,4) 4.92 4.62 5.73 5.52
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.40 5.09 6.27 5.74
4 2-month 5.38 5.14 6.29 5.59
5 3-month 5.34 5.18 6.31 5.49
Financial
6 1-month 5.42 5.11 6.28 5.75
7 2-month 5.40 5.16 6.30 5.62
8 3-month 5.37 5.22 6.33 5.51
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper,
directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month 5.39 5.24 6.23 n.a.
16 6-month 5.30 5.30 6.37 n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 5.49 5.19 6.35 5.83
18 3-month 5.47 5.33 6.46 5.62
19 6-month 5.44 5.46 6.59 5.45
20 Eurodollar deposits,
3-month(3,11) 5.45 5.31 6.45 5.62
US Treasury bills
Secondary market(3,5)
21 3-month 4.78 4.64 5.82 5.15
22 6-month 4.83 4.75 5.90 4.95
23 1-year 4.80 4.81 5.78 4.63
Auction high(3,5,12)
24 3-month 4.81 4.66 5.66 n.a.
25 6-month 4.85 4.76 5.85 n.a.
26 1-year 4.85 4.78 5.85 n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 5.05 5.08 6.11 4.81
28 2-year 5.13 5.43 6.26 4.76
29 3-year 5.14 5.49 6.22 4.77
30 5-year 5.15 5.55 6.16 4.86
31 7-year 5.28 5.79 6.20 5.13
32 10-year 5.26 5.65 6.03 5.16
33 20-year 5.72 6.20 6.23 5.65
34 30-year 5.58 5.87 5.94 5.54
Composite
35 More than 10 years
(long-term) 5.69 6.14 6.41 n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 4.93 5.28 5.58 4.99
37 Baa 5.14 5.70 6.19 5.76
38 Bond Buyer series(15) 5.09 5.43 5.71 5.10
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 6.87 7.45 7.98 7.55
Rating group
40 Aaa 6.53 7.05 7.62 7.15
41 Aa 6.80 7.36 7.83 7.38
42 A 6.93 7.53 8.11 7.75
43 Baa 7.22 7.88 8.36 7.93
MEMO
Dividend-price ratio(17)
44 Common stocks 1.49 1.25 1.15 1.16
2001 2001,
week
ending
Item
Feb. Mar. Apr. Mar. 30
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.49 5.31 4.80 5.00
2 Discount window
borrowing(2,4) 5.00 4.81 4.28 4.50
Commercial paper(3,5,6)
Nonfinancial
3 1-month 5.39 5.02 4.71 4.94
4 2-month 5.25 4.87 4.54 4.77
5 3-month 5.14 4.78 4.44 4.69
Financial
6 1-month 5.41 5.06 4.74 4.99
7 2-month 5.29 4.93 4.57 4.86
8 3-month 5.19 4.81 4.47 4.70
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper,
directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 5.47 5.09 4.77 5.03
18 3-month 5.26 4.89 4.53 4.80
19 6-month 5.12 4.74 4.41 4.63
20 Eurodollar deposits,
3-month(3,11) 5.26 4.89 4.55 4.80
US Treasury bills
Secondary market(3,5)
21 3-month 4.88 4.42 3.87 4.22
22 6-month 4.71 4.28 3.85 4.04
23 l-year 4.51 4.11 3.80 4.01
Auction high(3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 4.68 4.30 3.98 4.19
28 2-year 4.66 4.34 4.23 4.29
29 3-year 4.71 4.43 4.42 4.41
30 5-year 4.89 4.64 4.76 4.65
31 7-year 5.10 4.88 5.03 4.90
32 10-year 5.10 4.89 5.14 4.95
33 20-year 5.62 5.49 5.78 5.59
34 30-year 5.45 5.34 5.65 5.44
Composite
35 More than 10 years
(long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 5.09 5.00 5.14 4.99
37 Baa 5.86 5.80 5.96 5.85
38 Bond Buyer series(15) 5.18 5.13 5.27 5.14
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.50 7.41 7.63 7.50
Rating group
40 Aaa 7.10 6.98 7.20 7.06
41 Aa 7.32 7.22 7.43 7.29
42 A 7.69 7.61 7.82 7.67
43 Baa 7.87 7.84 8.07 7.97
MEMO
Dividend-price ratio(17)
44 Common stocks 1.22 1.33 1.32 1.35
2001, week ending
Item
Apr. 6 Apr. 13 Apr. 20 Apr. 27
MONEY MARKET INSTRUMENTS
1 Federal funds(1,2,3) 5.21 4.96 4.98 4.42
2 Discount window
borrowing(2,4) 4.50 4.50 4.43 4.00
Commercial paper(3,5,6)
Nonfinancial
3 1-month 4.93 4.92 4.74 4.36
4 2-month 4.77 4.68 4.55 4.25
5 3-month 4.64 4.55 4.46 4.19
Financial
6 1-month 4.95 4.93 4.77 4.41
7 2-month 4.81 4.71 4.58 4.28
8 3-month 4.68 4.60 4.49 4.21
Commercial paper
(historical)(3,5,7)
9 1-month n.a. n.a. n.a. n.a.
10 3-month n.a. n.a. n.a. n.a.
11 6-month n.a. n.a. n.a. n.a.
Finance paper,
directly placed
(historical)(3,5,8)
12 1-month n.a. n.a. n.a. n.a.
13 3-month n.a. n.a. n.a. n.a.
14 6-month n.a. n.a. n.a. n.a.
Bankers acceptances(3,5,9)
15 3-month n.a. n.a. n.a. n.a.
16 6-month n.a. n.a. n.a. n.a.
Certificates of deposit,
secondary market(3,10)
17 1-month 5.02 4.99 4.70 4.42
18 3-month 4.74 4.69 4.50 4.26
19 6-month 4.55 4.53 4.41 4.20
20 Eurodollar deposits,
3-month(3,11) 4.73 4.69 4.56 4.26
US Treasury bills
Secondary market(3,5)
21 3-month 4.01 3.90 3.87 3.72
22 6-month 3.93 3.91 3.89 3.71
23 l-year 3.83 3.89 3.87 3.65
Auction high(3,5,12)
24 3-month n.a. n.a. n.a. n.a.
25 6-month n.a. n.a. n.a. n.a.
26 1-year n.a. n.a. n.a. n.a.
U.S. TREASURY NOTES AND BONDS
Constant maturities(13)
27 1-year 4.00 4.07 4.04 3.82
28 2-year 4.15 4.25 4.34 4.19
29 3-year 4.30 4.41 4.53 4.43
30 5-year 4.60 4.71 4.86 4.83
31 7-year 4.87 4.98 5.13 5.11
32 10-year 4.95 5.08 5.24 5.25
33 20-year 5.62 5.72 5.86 5.88
34 30-year 5.49 5.59 5.71 5.76
Composite
35 More than 10 years
(long-term) n.a. n.a. n.a. n.a.
STATE AND LOCAL NOTES AND BONDS
Moody's series(14)
36 Aaa 5.05 5.14 5.22 5.16
37 Baa 5.88 5.92 6.02 6.01
38 Bond Buyer series(15) 5.18 5.24 5.33 5.34
CORPORATE BONDS
39 Seasoned issues, all
industries(16) 7.52 7.61 7.71 7.68
Rating group
40 Aaa 7.08 7.18 7.27 7.26
41 Aa 7.31 7.41 7.50 7.49
42 A 7.69 7.79 7.90 7.88
43 Baa 7.98 8.06 8.15 8.09
MEMO
Dividend-price ratio(17)
44 Common stocks 1.41 1.33 1.26 1.27
NOTE. Some of the data in this table also appear in the Board's H.15
(519) weekly and G.13 (415) monthly statistical releases. For ordering
address, see inside front cover.
(1.) The daily effective federal funds rate is a weighted average of
rates on trades through New York brokers.
(2.) Weekly figures are averages of seven calendar days ending on
Wednesday of the current week; monthly figures include each calendar
day in the month.
(3.) Annualized using a 360-day year or bank interest.
(4.) Rate for the Federal Reserve Bank of New York.
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial paper
trades settled by the Depository Trust Company. The trades represent
sales of commercial paper by dealers or direct issuers to investors
(that is, the offer side). See the Board's Commercial Paper web pages
(http://www.federalreserve.gov/releases/cp) for more information.
(7.) An average of offering rates on commercial paper for firms whose
bond rating is AA or the equivalent. Series ended August 29, 1997.
(8.) An average of offering rates on paper directly placed by finance
companies. Series ended August 29, 1997.
(9.) Representative closing yields for acceptances of the highest-rated
money center banks.
(10.) An average of dealer offering rates on nationally traded
certificates of deposit.
(11.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purposes only.
(12.) Auction date for daily data; weekly and monthly averages computed
on an issue-date basis. On or after October 28, 1998, data are stop
yields from uniform-price auctions. Before that, they are weighted
average yields from multiple-price auctions.
(13.) Yields on actively traded issues adjusted to constant maturities.
Source: U.S. Department of the Treasury.
(14.) General obligation bonds based on Thursday figures; Moody's
Investors Service.
(15.) State and local government general obligation bonds maturing in
twenty years are used in compiling this index. The twenty-bond index
has a rating roughly equivalent to Moodys' A1 rating. Based on
Thursday figures.
(16.) Daily figures from Moody's Investors Service. Based on yields
to maturity on selected long-term bonds.
(17.) Standard & Poor's corporate series. Common stock ratio is based
on the 500 stocks in the price index.
1.36 STOCK MARKET Selected Statistics
2000
Indicator 1998 1999 2000
Aug.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31,
1965 = 50) 550.65 619.52 643.71 666.14
2 Industrial 684.35 775.29 809.40 837.23
3 Transportation 468.61 491.62 414.73 419.84
4 Utility 190.52 284.82 478.99 459.91
5 Finance 516.65 530.97 552.48 597.17
6 Standard &
Poor's
Corporation
(1941-43
= 10)(1) 1,085.50 1,327.33 1,427.22 1,485.46
7 American Stock
Exchange
(Aug. 31, 1973
= 50)(2) 682.69 770.90 922.22 920.54
Volume of trading
(thousands
of shares)
8 New York Stock
Exchange 666,534 799,554 1,026,867 875,087
9 American Stock
Exchange 28,870 32,629 51,437 35,695
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker-
dealers(3) 140,980 228,530 198,790 247,560
Free credit balances
at brokers(4)
11 Margin accounts(5) 40,250 55,130 100,680 68,020
12 Cash accounts 62,450 79,070 84,400 72,640
Margin requirements (percent of market
value and effective date)(6)
Mar. 11, 1968 June 8, 1968
13 Margin stocks 70 80
14 Convertible bonds 50 60
15 Short sales 70 80
2000
Indicator
Sept. Oct. Nov. Dec.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31,
1965 = 50) 667.05 646.53 646.64 645.44
2 Industrial 829.99 797.00 800.88 792.66
3 Transportation 404.23 403.20 434.92 457.53
4 Utility 463.76 469.16 455.66 444.16
5 Finance 616.89 587.76 600.45 621.62
6 Standard &
Poor's
Corporation
(1941-43
= 10)(1) 1,468.06 1,390.14 1,375.04 1,330.93
7 American Stock
Exchange
(Aug. 31, 1973
= 50)(2) 952.74 913.64 892.60 870.16
Volume of trading
(thousands
of shares)
8 New York Stock
Exchange 1,026,597 1,167,025 1,015,606 1,183,149
9 American Stock
Exchange 47,047 57,915 58,541 73,759
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker-
dealers(3) 250,780 233,380 219,110 198,790
Free credit balances
at brokers(4)
11 Margin accounts(5) 70,960 82,990 96,730 100,680
12 Cash accounts 74,766 73,410 74,050 84,400
Margin requirements (percent of
market value and effective date)(6)
May 6, 1970 Dec. 6, 1971
13 Margin stocks 65 55
14 Convertible bonds 50 50
15 Short sales 65 55
2001
Indicator
Jan. Feb. Mar. Apr.
Prices and trading volume
(averages of daily figures)
Common stock prices
(indexes)
1 New York Stock
Exchange
(Dec. 31,
1965 = 50) 650.22 648.05 603.44 607.06
2 Industrial 796.74 799.38 744.21 747.48
3 Transportation 471.21 482.26 452.36 455.22
4 Utility 440.36 424.53 395.34 400.49
5 Finance 634.17 626.41 583.38 587.88
6 Standard &
Poor's
Corporation
(1941-43
= 10)(1) 1,335.63 1,305.75 1,185.85 1,189.84
7 American Stock
Exchange
(Aug. 31, 1973
= 50)(2) 898.18 923.99 891.22 891.18
Volume of trading
(thousands
of shares)
8 New York Stock
Exchange 1,299,986 1,117,977 1,251,569 1,247,382
9 American Stock
Exchange 72,312 70,648 81,666 77,612
Customer financing (millions of dollars,
end-of-period balances)
10 Margin credit at
broker-
dealers(3) 197,110 186,810 165,350 166,940
Free credit balances
at brokers(4)
11 Margin accounts(5) 90,380 99,390 106,300 97,470
12 Cash accounts 81,380 78,660 77,520 77,460
Margin requirements (percent of market
value and effective date)(6)
Nov. 24, 1972 Jan. 3, 1974
13 Margin stocks 65 50
14 Convertible bonds 50 50
15 Short sales 65 50
(1.) In July 1976 a financial group, composed of banks and insurance
companies, was added to the group of stocks on which the index is
based. The index is now based on 400 industrial stocks (formerly 425),
20 transportation (formerly 15 rail), 40 public utility (formerly 60),
and 40 financial.
(2.) On July 5, 1983, the American Stock Exchange rebased its index,
effectively cutting previous readings in half.
(3.) Since July 1983, under the revised Regulation T, margin credit at
broker-dealers has included credit extended against stocks, convertible
bonds, stocks acquired through the exercise of subscription rights,
corporate bonds, and government securities. Separate reporting of data
for margin stocks, convertible bonds, and subscription issues was
discontinued in April 1984.
(4.) Free credit balances are amounts in accounts with no unfulfilled
commitments to brokers and are subject to withdrawal by customers on
demand.
(5.) Series initiated in June 1984.
(6.) Margin requirements, stated in regulations adopted by the Board
of Governors pursuant to the Securities Exchange Act of 1934, limit
the amount of credit that can be used to purchase and carry "margin
securities" (as defined in the regulations) when such credit is
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 1,652,619 1,702,875 1,788,826
5 On-budget 1,336,015 1,382,097 1,458,061
6 Off-budget 316,604 320,778 330,765
7 Surplus or deficit (-), total 69,179 124,579 236,392
8 On-budget -30,016 889 86,573
9 Off-budget 99,195 123,690 149,819
Source of financing (total)
10 Borrowing from the public -51,211 -88,674 -222,672
11 Operating cash (decrease, or
increase [-]) 4,743 -17,580 3,799
12 Other(2) -22,711 -18,325 -17,519
MEMO
13 Treasury operating balance
(level, end of period) 38,878 56,458 52,659
14 Federal Reserve Banks 4,952 6,641 8,459
15 Tax and loan accounts 33,926 49,817 44,199
Calendar year
Type of account or operation 2000 2001
Nov. Dec. Jan.
U.S. budget(1)
1 Receipts, total 125,666 200,489 219,215
2 On-budget 89,216 161,737 171,001
3 Off-budget 36,450 38,752 48,214
4 Outlays, total 149,356 167,823 142,836
5 On-budget 116,737 132,747 144,448
6 Off-budget 32,619 35,075 -1,613
7 Surplus or deficit (-), total -23,690 32,666 76,379
8 On-budget -27,521 28,990 26,553
9 Off-budget 3,831 3,677 49,827
Source of financing (total)
10 Borrowing from the public 41,325 -36,689 -23,990
11 Operating cash (decrease, or
increase [-]) -1,431 -9,632 -45,761
12 Other(2) -16,204 13,655 -6,628
MEMO
13 Treasury operating balance
(level, end of period) 11,437 21,069 66,830
14 Federal Reserve Banks 4,382 5,149 5,256
15 Tax and loan accounts 7,055 15,920 61,574
Calendar year
Type of account or operation 2001
Feb. Mar. Apr.
U.S. budget(1)
1 Receipts, total 110,481 130,074 331,796
2 On-budget 70,555 84,123 278,611
3 Off-budget 39,926 45,951 53,185
4 Outlays, total 158,649 180,736 141,999
5 On-budget 123,573 145,186 109,938
6 Off-budget 35,076 35,550 32,062
7 Surplus or deficit (-), total -48,168 -50,662 189,796
8 On-budget -53,018 -61,062 168,673
9 Off-budget 4,850 10,401 21,123
Source of financing (total)
10 Borrowing from the public 15,100 32,557 -135,572
11 Operating cash (decrease, or
increase [-]) 45,717 -7,171 -36,846
12 Other(2) -12,649 25,276 -17,378
MEMO
13 Treasury operating balance
(level, end of period) 21,113 28,284 65,130
14 Federal Reserve Banks 4,956 5,657 7,894
15 Tax and loan accounts 16,158 22,627 57,236
(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 Statements 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
Calendar
Fiscal year year
Source or type 1999
1999 2000
H1
RECEIPTS
1 All sources 1,827,302 2,025,218 966,045
2 Individual income taxes, net 879,480 1,004,462 481,907
3 Withheld 693,940 780,397 351,068
4 Nonwithheld 308,185 358,049 240,278
5 Refunds 122,706 134,046 109,467
Corporation income taxes
6 Gross receipts 216,324 235,655 106,861
7 Refunds 31,645 28,367 17,092
8 Social insurance taxes and
contributions, net 611,833 652,852 324,831
9 Employment taxes and
contributions(2) 580,880 620,451 306,235
10 Unemployment insurance 26,480 27,640 16,378
11 Other net receipts(3) 4,473 4,761 2,216
12 Excise taxes 70,414 68,865 31,015
13 Customs deposits 18,336 19,914 8,440
14 Estate and gift taxes 27,782 29,010 14,915
15 Miscellaneous receipts(4) 34,929 42,826 15,140
OUTLAYS
16 All types 1,702,875 1,788,826 817,227
17 National defense 274,873 294,494 134,414
18 International affairs 15,243 17,216 6,879
19 General science, space, and
technology 18,125 18,637 9,319
20 Energy 912 -1,060 797
21 Natural resources and 23,970 25,031 10,351
environment
22 Agriculture 23,011 36,641 9,803
23 Commerce and housing credit 2,649 3,211 -1,629
24 Transportation 42,531 46,854 17,082
25 Community and regional 11,870 10,629 5,368
development
26 Education, training, employment
and social services 56,402 59,201 29,003
27 Health 141,079 154,534 69,320
28 Social security and Medicare 580,488 606,549 261,146
29 Income security 237,707 247,895 126,552
30 Veterans benefits and services 43,212 47,083 20,105
31 Administration of justice 25,924 27,820 13,149
32 General government 15,771 13,454 6,641
33 Net interest(5) 229,735 223,218 116,655
34 Undistributed offsetting
receipts(6) -40,445 -42,581 -17,724
Calendar year
Source or type 1999 2000
H2 H1 H2
RECEIPTS
1 All sources 892,266 1,089,763 952,942
2 Individual income taxes, net 425,451 550,208 458,679
3 Withheld 372,012 388,526 395,572
4 Nonwithheld 68,302 281,103 77,732
5 Refunds 14,841 119,477 14,628
Corporation income taxes
6 Gross receipts 110,111 119,166 123,962
7 Refunds 13,996 13,781 15,776
8 Social insurance taxes and
contributions, net 292,551 353,514 310,122
9 Employment taxes and
contributions(2) 280,059 333,584 297,665
10 Unemployment insurance 10,173 17,562 10,097
11 Other net receipts(3) 2,319 2,368 2,360
12 Excise taxes 34,262 33,532 35,501
13 Customs deposits 10,287 9,218 10,676
14 Estate and gift taxes 14,001 15,073 13,216
15 Miscellaneous receipts(4) 19,569 22,831 16,556
OUTLAYS
16 All types 882,465 892,947 894,905
17 National defense 149,573 143,476 147,651
18 International affairs 8,530 7,250 11,902
19 General science, space, and
technology 10,089 9,601 10,389
20 Energy -90 -893 -595
21 Natural resources and 12,100 10,814 12,907
environment
22 Agriculture 20,887 11,164 20,977
23 Commerce and housing credit 7,353 -2,497 4,408
24 Transportation 23,199 21,054 25,841
25 Community and regional 6,806 5,050 5,962
development
26 Education, training, employment
and social services 27,532 31,234 29,263
27 Health 74,490 75,871 81,413
28 Social security and Medicare 295,030 306,966 307,473
29 Income security 113,504 133,915 113,212
30 Veterans benefits and services 23,412 23,174 22,615
31 Administration of justice 13,459 13,981 14,635
32 General government 7,010 6,198 6,461
33 Net interest(5) 112,420 115,545 104,685
34 Undistributed offsetting
receipts(6) -22,850 -19,346 -24,070
Calendar year
Source or type 2001
Feb. Mar. Apr.
RECEIPTS
1 All sources 110,481 130,071 331,796
2 Individual income taxes, net 48,030 33,591 220,015
3 Withheld 70,179 67,068 64,489
4 Nonwithheld 3,454 7,662 187,032
5 Refunds 25,610 41,153 31,518
Corporation income taxes
6 Gross receipts 3,474 26,986 26,693
7 Refunds 4,973 4,849 2,948
8 Social insurance taxes and
contributions, net 53,473 60,135 73,887
9 Employment taxes and
contributions(2) 50,868 59,499 68,773
10 Unemployment insurance 2,147 209 4,760
11 Other net receipts(3) 457 427 354
12 Excise taxes 4,074 7,064 5,690
13 Customs deposits 1,474 1,653 1,477
14 Estate and gift taxes 1,879 2,215 4,471
15 Miscellaneous receipts(4) 3,050 3,276 2,510
OUTLAYS
16 All types 158,649 180,733 141,999
17 National defense 22,555 31,144 22,253
18 International affairs 1,153 1,980 1,272
19 General science, space, and
technology 1,619 1,811 1,547
20 Energy -174 187 -390
21 Natural resources and 1,737 1,822 1,741
environment
22 Agriculture 2,003 2,083 1,272
23 Commerce and housing credit -487 1,025 -260
24 Transportation 3,502 3,899 3,593
25 Community and regional 939 616 855
development
26 Education, training, employment
and social services 5,957 6,874 4,798
27 Health 13,011 14,763 14,844
28 Social security and Medicare 52,154 57,468 50,826
29 Income security 33,203 31,652 19,913
30 Veterans benefits and services 4,089 6,333 2,164
31 Administration of justice 2,201 2,559 2,562
32 General government 2,400 1,100 1,162
33 Net interest(5) 17,590 18,568 17,816
34 Undistributed offsetting
receipts(6) -4,802 -3,150 -3,970
(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 contibutions and civil
service retirement and disability fund.
(4.) Deposits of earnings by Federal Reserve Banks and
other miscellaneous receipts.
(5.) Includes interest received by trust funds.
(6.) Rents and royalties for the outer continental shelf,
U.S. government contributions for employee retirement,
and certain asset sales.
SOURCE. Fiscal year totals: U.S. Office of Management and
Budget, Budget of the U.S. Government, Fiscal Year 2002;
monthly and half-year totals: U.S. Department of the
Treasury, Monthly Treasury Statement of Receipts and
Outlays of the U.S. Government.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
1999
Item
Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 5,681 5,668 5,685
2 Public debt securities 5,652 5,639 5,656
3 Held by public 3,795 3,685 3,667
4 Held by agencies 1,857 1,954 1,989
5 Agency securities 29 29 29
6 Held by public 28 28 28
7 Held by agencies 1 1 1
8 Debt subject to statutory limit 5,566 5,552 5,568
9 Public debt securities 5,566 5,552 5,568
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
1999 2000
Item
Dec. 31 Mar. 31 June 30
1 Federal debt outstanding 5,805 5,802 5,714
2 Public debt securities 5,776 5,773 5,686
3 Held by public 3,716 3,688 3,496
4 Held by agencies 2,061 2,085 2,190
5 Agency securities 29 28 28
6 Held by public 28 28 28
7 Held by agencies 1 0 0
8 Debt subject to statutory limit 5,687 5,687 5,601
9 Public debt securities 5,687 5,686 5,601
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
2000 2001
Item
Sept. 30 Dec. 31 Mar. 31
1 Federal debt outstanding 5,702 5,690 5,801
2 Public debt securities 5,674 5,662 5,774
3 Held by public 3,439 3,414 3,434
4 Held by agencies 2,236 2,249 2,339
5 Agency securities 28 27 27
6 Held by public 28 27 27
7 Held by agencies 0 0 0
8 Debt subject to statutory limit 5,592 5,581 5,693
9 Public debt securities 5,591 5,580 5,692
10 Other debt(1) 0 0 0
MEMO
11 Statutory debt limit 5,950 5,950 5,950
(1.) Consists of guaranteed debt of U.S. Treasury and other
federal agencies, specified participation certificates, notes to
international lending organizations, and District of Columbia
stadium bonds.
SOURCE. U.S. Department of the Treasury, Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1997 1998 1999
1 Total gross public debt 5,502.4 5,614.2 5,776.1
By type
2 Interest-bearing 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
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 1,828.1 2,064.2
17 Federal Reserve Banks(6) 430.7 452.1 478.0
18 Private investors 3,414.6 3,334.0 3,233.9
19 Depository institutions 300.3 237.3 266.1(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 186.5 186.6 186.2(r)
24 Pension funds 360.5 375.3 380.9
25 Private 143.5 157.6 167.7
26 State and Local 216.9 217.7 213.2
27 Foreign and
international(8) 1,241.6 1,278.7 1,268.7(r)
28 Other miscellaneous
investors(7,9) 589.5 499.0(r) 410.8(r)
2000
Type and holder 2000
Q2 Q3
1 Total gross public debt 5,662.2 5,685.9 5,674.2
By type
2 Interest-bearing 5,618.1 5,675.9 5,622.1
3 Marketable 2,966.9 3,070.7 2,992.8
4 Bills 646.9 629.9 616.2
5 Notes 1,557.3 1,679.1 1,611.3
6 Bonds 626.5 637.7 635.3
7 Inflation-indexed notes
and bonds(1) 121.2 109.0 115.0
8 Nonmarketable(2) 2,651.2 2,605.2 2,629.3
9 State and local
government series 151.0 160.4 153.3
10 Foreign issues(3) 27.2 27.7 25.4
11 Government 27.2 27.7 25.4
12 Public .0 .0 .0
13 Savings bonds and notes 176.9 177.7 177.7
14 Government account
series(4) 2,266.1 2,209.4 2,242.9
15 Non-interest-bearing 44.2 10.1 52.1
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 2,270.2 2,193.6 2,226.5
17 Federal Reserve Banks(6) 511.7 504.9 511.4
18 Private investors 2,880.4 2,987.4 2,936.2
19 Depository institutions 197.7(r) 219.3(r) 218.3
20 Mutual funds 338.9(r) 322.9(r) 324.3(r)
21 Insurance companies 116.6(r) 122.0(r) 119.3(r)
22 State and local
treasuries(7) 246.2 256.4 241.9(r)
Individuals
23 Savings bonds 184.8 184.6 184.3
24 Pension funds 375.8 384.1 383.1(r)
25 Private 181.6(r) 173.6 179.2
26 State and Local 206.1(r) 210.5 203.9(r)
27 Foreign and
international(8) 1,201.4(r) 1,248.8 1,225.2
28 Other miscellaneous
investors(7,9) 218.1 250.4(r) 237.9(r)
2000 2001
Type and holder
Q4 Q1
1 Total gross public debt 5,662.2 5,773.7
By type
2 Interest-bearing 5,618.1 5,752.0
3 Marketable 2,966.9 2,981.9
4 Bills 646.9 712.0
5 Notes 1,557.3 1,499.0
6 Bonds 626.5 627.9
7 Inflation-indexed notes
and bonds(1) 121.2 128.0
8 Nonmarketable(2) 2,651.2 2,770.0
9 State and local
government series 151.0 152.9
10 Foreign issues(3) 27.2 24.7
11 Government 27.2 24.7
12 Public .0 .0
13 Savings bonds and notes 176.9 177.4
14 Government account
series(4) 2,266.1 2,360.3
15 Non-interest-bearing 44.2 46.5
By holder(5)
16 U.S. Treasury and other
federal agencies
and trust funds 2,270.2 2,357.0
17 Federal Reserve Banks(6) 511.7 523.9
18 Private investors 2,880.4 2,892.9
19 Depository institutions 197.7(r) 188.1
20 Mutual funds 338.9(r) 348.2
21 Insurance companies 116.6(r) 112.8
22 State and local
treasuries(7) 246.2 234.1
Individuals
23 Savings bonds 184.8 184.8
24 Pension funds 375.8 384.9
25 Private 181.6(r) 181.3
26 State and Local 206.1(r) 203.6
27 Foreign and
international(8) 1,201.4(r) 1,196.2
28 Other miscellaneous
investors(7,9) 218.1 n.a.
(1.) The U.S. Treasury first issued inflation-indexed securities
during the first quarter of 1997.
(2.) Includes (not shown separately) securities issued to the Rural
Electrification Administration, depository bonds, retirement plan
bonds, and individual retirement bonds.
(3.) Nonmarketable series denominated in dollars, and series
denominated in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal agencies
and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies and
trust funds are actual holdings; data for other groups are Treasury
estimates.
(6.) U.S. Treasury securities bought outright by Federal Reserve
Banks, see Bulletin table 1.18.
(7.) In March 1996, in a redefinition of series, fully defeased debt
backed by nonmarketable federal securities was removed from "Other
miscellaneous investors" and added to "State and local treasuries."
The data shown here have been revised accordingly.
(8.) Includes nonmarketable foreign series Treasury securities and
Treasury deposit funds. Excludes Treasury securities held under
repurchase agreements in custody accounts at the Federal Reserve
Bank of New York.
(9.) Includes individuals, government-sponsored enterprises, brokers
and dealers, bank personal trusts and estates, corporate and
noncorporate businesses, and other investors.
SOURCES. Data by type of security, U.S. Treasury Department, Monthly
Statement of the Public Debt of the United States; data by holder,
Federal Reserve Board of Governors, Flow of Funds Accounts of the
United States and U.S. Treasury Department, Treasury Bulletin,
unless otherwise noted.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions(1)
Millions of dollars, daily averages
2001
Item
Jan. Feb. Mar.
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 30,524 30,944 32,042
Coupon securities, by maturity
2 Five years or less 185,208 177,385 170,530
3 More than five years 92,568 97,333 87,263
4 Inflation-indexed 2,801 1,673 1,575
Federal agency
5 Discount notes 62,160 66,280 62,429
Coupon securities, by maturity
6 One year or less 1,451 1,405 998
7 More than one year, but less
than or equal to five years 15,202 19,340 16,460
8 More than five years 12,991 9,935 13,911
9 Mortgage-backed 100,680 108,394 105,381
By type of counterparty
With interdealer broker
10 U.S. Treasury 145,363 142,567 129,797
11 Federal agency 13,683 12,617 13,272
12 Mortgage-backed 31,191 32,659 34,045
With other
13 U.S. Treasury 165,738 164,767 161,613
14 Federal agency 78,120 84,344 80,526
15 Mortgage-backed 69,489 75,735 71,337
FUTURES TRANSACTIONS(3)
By type of deliverable security
16 U.S. Treasury bills n.a. 0 n.a.
Coupon securities, by maturity
17 Five years or less 3,821 4,230 4,208
18 More than five years 15,474 17,291 16,989
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 63 66 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 1,116 971 1,167
27 More than five years 4,423 4,166 4,188
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 20 29 85
32 More than five years 105 119 133
33 Mortgage-backed 1,269 1,444 1,863
2001, week ending
Item
Feb. 28 Mar. 7 Mar 14
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 48,699 33,360 27,243
Coupon securities, by maturity
2 Five years or less 209,177 163,884 160,131
3 More than five years 106,598 92,217 88,386
4 Inflation-indexed 2,209 1,267 1,716
Federal agency
5 Discount notes 70,415 62,925 62,472
Coupon securities, by maturity
6 One year or less 1,005 675 1,356
7 More than one year, but less
than or equal to five years 32,471 17,155 16,709
8 More than five years 10,665 10,762 19,876
9 Mortgage-backed 78,285 124,025 110,680
By type of counterparty
With interdealer broker
10 U.S. Treasury 165,470 128,123 126,213
11 Federal agency 15,803 11,965 14,719
12 Mortgage-backed 27,846 35,155 35,768
With other
13 U.S. Treasury 201,213 162,604 151,263
14 Federal agency 98,753 79,553 85,694
15 Mortgage-backed 50,439 88,870 74,911
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 6,171 5,550 3,385
18 More than five years 22,167 16,672 18,107
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 n.a.
23 More than five years 139 55 n.a.
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 743 1,173 1,067
27 More than five years 3,778 4,406 5,113
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 80 n.a. n.a.
32 More than five years 278 27 269
33 Mortgage-backed 1,104 2,564 1,543
2001, week ending
Item
Mar. 21 Mar. 28 Apr. 4
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 27,234 38,628 36,299
Coupon securities, by maturity
2 Five years or less 173,259 182,779 175,696
3 More than five years 84,222 85,166 84,918
4 Inflation-indexed 1,881 1,349 1,794
Federal agency
5 Discount notes 63,276 63,071 57,355
Coupon securities, by maturity
6 One year or less 748 1,228 965
7 More than one year, but less
than or equal to five years 16,135 17,606 12,047
8 More than five years 11,826 15,514 8,079
9 Mortgage-backed 111,387 84,348 83,096
By type of counterparty
With interdealer broker
10 U.S. Treasury 132,779 130,887 132,765
11 Federal agency 14,785 13,079 9,624
12 Mortgage-backed 38,320 29,291 28,157
With other
13 U.S. Treasury 153,817 177,035 165,941
14 Federal agency 77,200 84,340 68,821
15 Mortgage-backed 73,067 55,057 54,940
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 4,812 3,373 3,488
18 More than five years 18,218 15,196 16,395
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 n.a. n.a. 0
23 More than five years n.a. n.a. n.a.
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 1,010 1,191 1,739
27 More than five years 2,901 4,083 4,805
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. n.a. 85
32 More than five years 92 168 75
33 Mortgage-backed 2,160 1,608 802
2001, week ending
Item
Apr. 11 Apr. 18 Apr. 25
OUTRIGHT TRANSACTIONS(2)
By type of security
1 U.S. Treasury bills 31,998 44,646 27,625
Coupon securities, by maturity
2 Five years or less 159,026 190,179 196,537
3 More than five years 85,880 78,227 82,033
4 Inflation-indexed 1,676 1,771 1,995
Federal agency
5 Discount notes 56,817 61,195 66,497
Coupon securities, by maturity
6 One year or less 647 1,517 1,502
7 More than one year, but less
than or equal to five years 17,969 18,396 23,675
8 More than five years 6,378 5,274 8,070
9 Mortgage-backed 144,118 126,096 88,470
By type of counterparty
With interdealer broker
10 U.S. Treasury 123,142 139,093 134,568
11 Federal agency 9,901 10,294 13,466
12 Mortgage-backed 43,120 39,724 29,240
With other
13 U.S. Treasury 155,439 175,729 173,623
14 Federal agency 71,910 76,088 86,278
15 Mortgage-backed 100,998 86,373 59,231
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 3,919 3,766 3,007
18 More than five years 18,265 16,792 17,124
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. n.a. n.a.
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 502 1,908 598
27 More than five years 4,563 4,848 3,615
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. 63 n.a.
32 More than five years 172 29 n.a.
33 Mortgage-backed 1,251 1,753 404
(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 date 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 reported 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
2001
Item
Jan. Feb. Mar.
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 10,534 9,779 20,272
Coupon securities, by maturity
2 Five years or less -12,508 -17,917 -14,721
3 More than five years -10,547 -3,985 -6,315
4 Inflation-indexed 3,571 3,907 4,146
Federal agency
5 Discount notes 30,005 32,994 36,096
Coupon securities, by maturity
6 One year or less 17,285 18,229 16,162
7 More than one year, but less
than or equal to five years 6,450 6,215 5,802
8 More than five years 6,360 5,480 8,578
9 Mortgage-backed 15,656 10,110 9,611
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 1,131 2,344 -1,421
12 More than five years -6,366 -11,744 -10,207
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 n.a. 0
17 More than five years -91 -300 -341
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 767 604 295
21 More than five years 1,054 -815 730
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 -529 -578 355
26 More than five years 603 558 593
27 Mortgage-backed 894 2,002 2,485
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 348,805 350,827 376,076
29 Term 803,216 845,692 881,202
Securities borrowed
30 Overnight and continuing 270,561 278,815 278,034
31 Term 129,862 120,113 123,908
Securities received as pledge
32 Overnight and continuing 3,382 3,002 3,391
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 794,087 803,148 836,852
35 Term 764,792 801,371 842,163
Securities loaned
36 Overnight and continuing 9,914 9,648 9,463
37 Term 4,185 4,194 4,429
Securities pledged
38 Overnight and continuing 54,311 51,166 50,758
39 Term 4,032 5,029 5,938
Collateralized loans
40 Total 24,507 21,373 23,731
2001, week ending
Item
Feb. 28 Mar. 7 Mar. 14
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 27,862 15,125 13,380
Coupon securities, by maturity
2 Five years or less -21,623 -16,189 -14,725
3 More than five years -3,992 -5,695 -6,897
4 Inflation-indexed 4,568 4,186 4,171
Federal agency
5 Discount notes 31,168 34,956 40,015
Coupon securities, by maturity
6 One year or less 18,036 17,018 15,975
7 More than one year, but less
than or equal to five years 6,424 6,268 6,633
8 More than five years 5,416 6,501 7,333
9 Mortgage-backed 7,830 10,254 9,305
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 950 -1,764 -2,153
12 More than five years -11,200 -10,632 -9,606
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. 0
17 More than five years -339 -309 -299
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 -109 989 -149
21 More than five years -1,211 524 1,163
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 -348 232 312
26 More than five years 1,079 1,226 967
27 Mortgage-backed 3,438 1,276 2,293
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 389,259 390,153 378,049
29 Term 799,665 850,292 902,950
Securities borrowed
30 Overnight and continuing 269,630 286,322 275,096
31 Term 126,965 121,085 123,020
Securities received as pledge
32 Overnight and continuing 3,180 3,395 4,033
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 835,851 835,369 847,662
35 Term 762,927 818,097 857,600
Securities loaned
36 Overnight and continuing 9,709 9,209 9,234
37 Term n.a. 4,067 n.a.
Securities pledged
38 Overnight and continuing 49,833 51,954 49,957
39 Term 5,601 5,639 6,000
Collateralized loans
40 Total 18,895 21,116 28,881
2001, week ending
Item
Mar. 21 Mar. 28 Apr. 4
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 12,098 30,249 44,155
Coupon securities, by maturity
2 Five years or less -13,003 -14,925 -14,819
3 More than five years -5,836 -6,645 -6,752
4 Inflation-indexed 3,663 4,548 4,188
Federal agency
5 Discount notes 33,643 33,222 42,037
Coupon securities, by maturity
6 One year or less 15,852 15,651 16,519
7 More than one year, but less
than or equal to five years 5,420 5,540 4,274
8 More than five years 9,997 10,198 9,240
9 Mortgage-backed 6,710 10,687 13,082
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 -1,904 108 -1,353
12 More than five years -11,711 -9,652 -8,406
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. 0 0
17 More than five years n.a. -395 -385
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 -55 784 -612
21 More than five years 640 423 1,131
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 489 315 519
26 More than five years 587 -164 20
27 Mortgage-backed 3,851 2,634 2,220
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 385,554 353,528 369,121
29 Term 869,504 918,959 841,773
Securities borrowed
30 Overnight and continuing 285,120 268,650 270,908
31 Term 123,331 128,376 123,493
Securities received as pledge
32 Overnight and continuing 3,245 3,073 2,963
33 Term n.a. n.a. n.a.
Repurchase agreements
34 Overnight and continuing 833,359 820,374 861,690
35 Term 840,322 881,095 775,748
Securities loaned
36 Overnight and continuing 9,657 9,786 9,386
37 Term 4,543 4,678 n.a.
Securities pledged
38 Overnight and continuing 51,553 50,052 49,627
39 Term 5,944 6,068 6,174
Collateralized loans
40 Total 24,727 18,640 27,366
2001, week ending
Item
Apr. 11 Apr. 18
Positions(2)
NET OUTRIGHT POSITIONS(3)
By type of security
1 U.S. Treasury bills 40,934 57,291
Coupon securities, by maturity
2 Five years or less -16,003 -18,297
3 More than five years -7,782 -7,227
4 Inflation-indexed 4,377 4,508
Federal agency
5 Discount notes 49,299 54,292
Coupon securities, by maturity
6 One year or less 16,307 15,823
7 More than one year, but less
than or equal to five years 4,776 7,117
8 More than five years 9,926 8,534
9 Mortgage-backed 9,749 9,762
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 -1,646 -424
12 More than five years -6,516 -6,782
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 0 0
17 More than five years -380 -364
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 -1,472 -719
21 More than five years 377 1,163
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 216 236
26 More than five years 82 24
27 Mortgage-backed 823 1,121
Financing(5)
Reverse repurchase agreements
28 Overnight and continuing 360,179 361,327
29 Term 902,139 919,879
Securities borrowed
30 Overnight and continuing 268,931 279,432
31 Term 128,356 124,767
Securities received as pledge
32 Overnight and continuing 3,127 3,299
33 Term n.a. n.a.
Repurchase agreements
34 Overnight and continuing 864,697 867,654
35 Term 833,753 860,415
Securities loaned
36 Overnight and continuing 10,065 9,561
37 Term n.a. 4,469
Securities pledged
38 Overnight and continuing 53,160 52,868
39 Term 6,500 6,362
Collateralized loans
40 Total 22,520 24,447
(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-backed 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 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.
(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
participation(5) n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 27,786 26,496 26,370
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 994,817 1,269,975 1,590,116
11 Federal Home Loan Banks 313,919 382,131 529,005
12 Federal Home Loan
Mortgage Corporation 169,200 287,396 360,711
13 Federal National Mortgage
Association 369,774 460,291 547,619
14 Farm Credit Banks(8) 63,517 63,488 68,883
15 Student Loan Marketing
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
Oct. Nov.
1 Federal and federally
sponsored agencies 1,851,632 n.a. 1,833,155
2 Federal agencies 25,666 25,523 25,555
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 255 237 239
6 Government National Mortgage
Association certificates of
participation(5) n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,660 25,517 25,549
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 1,825,966 1,777,824 1,807,600
11 Federal Home Loan Banks 594,404 576,689 580,957
12 Federal Home Loan
Mortgage Corporation 426,899 422,960 429,617
13 Federal National Mortgage
Association 642,700 615,463 633,100
14 Farm Credit Banks(8) 74,181 71,345 71,667
15 Student Loan Marketing
Association(9) 45,375 48,988 50,016
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 41,280 40,170
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 5,540 5,320
26 Rural Electrification
Administration 13,126 12,891 13,023
27 Other 22,174 22,849 21,827
2000 2001
Agency
Dec. Jan. Feb.
1 Federal and federally
sponsored agencies 1,851,632 n.a. 1,917,503
2 Federal agencies 25,666 25,426 25,141
3 Defense Department(1) 6 6 6
4 Export-Import Bank(2,3) n.a. n.a. n.a.
5 Federal Housing
Administration(4) 255 275 291
6 Government National Mortgage
Association certificates of
participation(5) n.a. n.a. n.a.
7 Postal Service(6) n.a. n.a. n.a.
8 Tennessee Valley Authority 25,660 25,420 25,135
9 United States Railway
Association(6) n.a. n.a. n.a.
10 Federally sponsored agencies(7) 1,825,966 1,873,199 1,892,362
11 Federal Home Loan Banks 594,404 604,904 598,586
12 Federal Home Loan
Mortgage Corporation 426,899 446,997 455,623
13 Federal National Mortgage
Association 642,700 654,200 668,200
14 Farm Credit Banks(8) 74,181 73,925 73,647
15 Student Loan Marketing
Association(9) 45,375 50,669 53,886
16 Financing Corporation(10) 8,170 8,170 8,170
17 Farm Credit Financial
Assistance Corporation(11) 1,261 1,261 1,261
18 Resolution Funding
Corporation(12) 29,996 29,996 29,996
MEMO
19 Federal Financing Bank debt(13) 40,575 39,348 38,924
Lending to federal and
federally sponsored agencies
20 Export-Import Bank(3) n.a. n.a. n.a.
21 Postal Service(6) n.a. n.a. n.a.
22 Student Loan Marketing
Association n.a. n.a. n.a.
23 Tennessee Valley Authority n.a. n.a. n.a.
24 United States Railway
Association(6) n.a. n.a. n.a.
Other lending(14)
25 Farmers Home Administration 5,275 5,155 5,155
26 Rural Electrification
Administration 13,126 13,197 13,281
27 Other 22,174 20,996 20,488
(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 1998 to provide assistance to the Farm Credit System,
undertook its first borrowing in July 1988.
(12.) The Resolution Funding Corporation, established by the
Financial Institution 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 1998 1999 2000
issuer, 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
Sept. Oct. Nov. Dec.
1 All issues, new and
refunding(1) 15,598 18,035 18,079 15,348
By type of issue
2 General obligation 6,888 5,871 5,044 5,060
3 Revenue 8,710 12,163 13,036 10,288
By type of issuer
4 State 2,022 3,005 1,942 1,640
5 Special district or
statutory authority(2) 10,152 11,224 12,311 1,053
6 Municipality, county,
or township 3,424 3,806 3,827 3,165
7 Issues for new capital 13,968 16,387 14,520 13,286
By use of proceeds
8 Education 3,210 3,492 3,446 2,919
9 Transportation 1,574 2,575 2,124 1,381
10 Utilities and conservation 1,408 1,272 1,973 1,307
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 387 730 500 615
13 Other purposes 5,243 6,558 3,787 4,264
2001
Type of issue or
issuer, or use
Jan. Feb. Mar. Apr.
1 All issues, new and
refunding(1) 11,255 19,829 24,495 16,985
By type of issue
2 General obligation 6,256 9,389 7,668 6,890
3 Revenue 4,999 10,441 16,827 10,094
By type of issuer
4 State 1,738 3,268 1,893 1,900
5 Special district or
statutory authority(2) 7,061 11,011 17,280 113,344
6 Municipality, county,
or township 2,456 5,550 5,323 3,740
7 Issues for new capital 8,758 13,384 15,387 12,264
By use of proceeds
8 Education 2,786 3,102 5,343 3,731
9 Transportation 780 2,411 1,219 1,381
10 Utilities and conservation 678 1,335 1,677 1,447
11 Social welfare n.a. n.a. n.a. n.a.
12 Industrial aid 63 281 396 436
13 Other purposes 3,013 4,742 4,368 3,010
(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
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 307,711 293,963 242,452
7 Financial 694,025 647,335 564,829
8 Stocks(3) 182,055 223,968 283,717
By type of offering
9 Public 126,755 131,568 134,917
10 Private placement(4) 55,300 92,400 148,800
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
Aug. Sept. Oct.
1 All issues(1) 82,752 94,492 62,466
2 Bonds(2) 69,875 88,102 53,345
By type of offering
3 Sold in the United States 56,133 73,516 47,415
4 Sold abroad 13,742 14,586 5,930
MEMO
5 Private placements, domestic 241 376 127
By industry group
6 Nonfinancial 17,947 24,483 12,547
7 Financial 51,928 63,619 40,799
8 Stocks(3) 25,277 18,790 21,521
By type of offering
9 Public 12,877 6,390 9,121
10 Private placement(4) 12,400 12,400 12,400
By industry group
11 Nonfinancial 8,645 6,205 8,278
12 Financial 4,232 185 843
2000 2001
Type of issue, offering,
or issuer
Nov. Dec. Jan.
1 All issues(1) 95,595 61,378 125,894
2 Bonds(2) 84,094 58,713 118,372
By type of offering
3 Sold in the United States 76,383 57,189 115,583
4 Sold abroad 7,712 1,525 2,789
MEMO
5 Private placements, domestic 5,534 3,709 26
By industry group
6 Nonfinancial 25,784 18,219 44,443
7 Financial 58,310 40,495 73,928
8 Stocks(3) 23,901 15,065 7,522
By type of offering
9 Public 11,501 2,665 7,522
10 Private placement(4) 12,400 12,400 n.a.
By industry group
11 Nonfinancial 10,794 2,146 4,356
12 Financial 707 519 3,166
2001
Type of issue, offering,
or issuer
Feb. Mar.
1 All issues(1) 96,206(r) 138,655
2 Bonds(2) 88,806 127,956
By type of offering
3 Sold in the United States 86,146 118,779
4 Sold abroad 2,660 9,177
MEMO
5 Private placements, domestic 1,897 652
By industry group
6 Nonfinancial 34,604 44,385
7 Financial 54,201 83,571
8 Stocks(3) 7,400 11,308
By type of offering
9 Public 7,400 11,308
10 Private placement(4) n.a. n.a.
By industry group
11 Nonfinancial 4,463 7,718
12 Financial 2,937 3,590
(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
Sept.
1 Sales of own shares(2) 1,791,894 2,279,315 159,809
2 Redemptions of own shares 1,621,987 2,057,277 147,644
3 Net sales(3) 169,906 222,038 12,166
4 Assets(4) 5,233,191 5,123,747 5,550,176
5 Cash(5) 219,189 277,386 280,192
6 Other 5,014,002 4,846,361 5,269,984
2000
Item
Oct. Nov. Dec.
1 Sales of own shares(2) 169,071 143,412 170,255
2 Redemptions of own shares 153,067 138,791 160,918
3 Net sales(3) 16,004 4,621 9,337
4 Assets(4) 5,442,937 4,993,008 5,123,747
5 Cash(5) 302,682 300,133 277,386
6 Other 5,140,255 4,692,875 4,846,361
2001
Item
Jan. Feb.
1 Sales of own shares(2) 206,765 148,362
2 Redemptions of own shares 171,819 141,663
3 Net sales(3) 34,946 6,699
4 Assets(4) 5,280,222 4,879,229
5 Cash(5) 280,472 274,077
6 Other 4,999,750 4,605,152
2001
Item
Mar.(r) Apr.
1 Sales of own shares(2) 162,548 152,491
2 Redemptions of own shares 175,633 130,560
3 Net sales(3) -13,085 21,931
4 Assets(4) 4,594,182 4,913,571
5 Cash(5) 241,518 250,218
6 Other 4,352,664 4,663,353
(1.) Data include stock, hybrid, and bond mutual funds and exclude
money market mutual funds.
(2.) Excludes reinvestment of net income dividends and capital
gains distributions and share issue of conversions from one fund
to another in the same group.
(3.) Excludes sales and redemptions resulting from transfers of
shares into or out of money market mutual funds within the same
fund family.
(4.) Market value at end of period, less current liabilities.
(5.) Includes all U.S. Treasury securities and other short-term
debt securities.
SOURCE: Investment Company Institute. Data based on reports of
membership, which comprises substantially all open-end investment
companies registered with the Securities and Exchange Commission.
Data reflect underwritings of newly formed companies after their
initial offering of securities.
1.48 CORPORATE PROFITS AND THEIR DISTRIBUTION
Billions of dollars; quarterly data at seasonally adjusted
annual rates
1999
Account 1998 1999 2000
Q2
1 Profits with inventory
valuation and capital
consumption adjustment 815.0 856.0 946.2 836.8
2 Profits before taxes 758.2 823.0 925.6 804.5
3 Profits-tax liability 244.6 255.9 284.2 250.8
4 Profits after taxes 513.6 567.1 641.4 553.7
5 Dividends 351.5 370.7 397.0 367.2
6 Undistributed profits 162.1 196.4 244.4 186.5
7 Inventory valuation 17.0 -9.1 -12.9 -8.9
8 Capital consumption adjustment 39.9 42.1 33.5 41.2
1999 2000
Account
Q3 Q4 Q1 Q2
1 Profits with inventory
valuation and capital
consumption adjustment 842.0 893.2 936.3 963.6
2 Profits before taxes 819.0 870.7 920.7 942.5
3 Profits-tax liability 254.2 270.8 286.3 292.0
4 Profits after taxes 564.8 599.9 634.4 650.4
5 Dividends 373.9 380.6 387.3 393.0
6 Undistributed profits 190.9 219.3 247.1 257.4
7 Inventory valuation -19.7 -19.2 -25.0 -13.6
8 Capital consumption adjustment 42.7 41.6 40.6 34.7
2000 2001
Account
Q3 Q4 Q1
1 Profits with inventory
valuation and capital
consumption adjustment 970.3 914.7 893.4
2 Profits before taxes 945.1 894.1 866.2
3 Profits-tax liability 290.6 267.7 259.0
4 Profits after taxes 654.4 626.4 607.2
5 Dividends 400.1 407.6 414.7
6 Undistributed profits 254.4 218.8 192.6
7 Inventory valuation -4.5 -8.5 -3.5
8 Capital consumption adjustment 29.7 29.1 30.7
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(r)
ASSETS
1 Accounts receivable, gross(2) 711.7 811.5 915.6
2 Consumer 261.8 279.8 296.1
3 Business 347.5 405.2 471.1
4 Real estate 102.3 126.5 148.3
5 LESS: Reserves for unearned income 56.3 53.5 60.0
6 Reserves for losses 13.8 13.5 15.1
7 Accounts receivable, net 641.6 744.6 840.5
8 All other 337.9 406.3 461.8
9 Total assets 979.5 1,150.9 1,302.4
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 61.8 123.8 146.5
13 Not elsewhere classified 339.7 397.0 463.8
14 All other liabilities 203.2 222.7 279.7
15 Capital, surplus, and
undivided profits 117.0 144.5 141.6
16 Total liabilities and capital 979.5 1,150.9 1,302.4
1999 2000
Account
Q3 Q4 Q1
ASSETS
1 Accounts receivable, gross(2) 776.3 811.5 848.7
2 Consumer 271.0 279.8 285.4
3 Business 383.0 405.2 434.6
4 Real estate 122.3 126.5 128.8
5 LESS: Reserves for unearned income 54.0 53.5 54.0
6 Reserves for losses 13.6 13.5 14.0
7 Accounts receivable, net 708.6 744.6 780.7
8 All other 368.5 406.3 412.7
9 Total assets 1,077.2 1,150.9 1,193.4
LIABILITIES AND CAPITAL
10 Bank loans 27.0 35.1 28.5
11 Commercial paper 205.3 227.9 230.2
Debt
12 Owed to parent 84.5 123.8 145.1
13 Not elsewhere classified 396.2 397.0 412.0
14 All other liabilities 216.0 222.7 247.6
15 Capital, surplus, and
undivided profits 148.2 144.5 130.1
16 Total liabilities and capital 1,077.2 1,150.9 1,193.4
2000
Account
Q2 Q3
ASSETS
1 Accounts receivable, gross(2) 884.4 900.1
2 Consumer 294.1 301.9
3 Business 454.1 455.7
4 Real estate 136.2 142.4
5 LESS: Reserves for unearned income 57.1 58.8
6 Reserves for losses 14.4 14.2
7 Accounts receivable, net 813.0 827.1
8 All other 418.3 441.4
9 Total assets 1,231.3 1,268.4
LIABILITIES AND CAPITAL
10 Bank loans 32.5 35.4
11 Commercial paper 221.3 215.6
Debt
12 Owed to parent 137.1 144.3
13 Not elsewhere classified 445.4 465.5
14 All other liabilities 259.3 269.2
15 Capital, surplus, and
undivided profits 135.6 138.3
16 Total liabilities and capital 1,231.3 1,268.4
2000 2001
Account
Q4(r) Q1
ASSETS
1 Accounts receivable, gross(2) 915.6 916.6
2 Consumer 296.1 292.9
3 Business 471.1 472.1
4 Real estate 148.3 151.6
5 LESS: Reserves for unearned income 60.0 60.3
6 Reserves for losses 15.1 15.6
7 Accounts receivable, net 840.5 840.7
8 All other 461.8 474.8
9 Total assets 1,302.4 1,315.5
LIABILITIES AND CAPITAL
10 Bank loans 35.6 41.2
11 Commercial paper 235.2 178.3
Debt
12 Owed to parent 146.5 138.5
13 Not elsewhere classified 463.8 501.9
14 All other liabilities 279.7 299.7
15 Capital, surplus, and
undivided profits 141.6 151.0
16 Total liabilities and capital 1,302.4 1,310.6
(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 875.8 993.9 1,145.2
2 Consumer 352.8 385.3 439.3
3 Real estate 131.4 154.7 174.9
4 Business 391.6 453.9 531.0
Not seasonally adjusted
5 Total 884.0 1,003.2 1,156.0
6 Consumer 356.1 388.8 443.4
7 Motor vehicles loans 103.1 114.7 122.5
8 Motor vehicle leases 93.3 98.3 102.9
9 Revolving(2) 32.3 33.8 38.3
10 Other(3) 33.1 33.1 32.4
Securitized assets(4)
11 Motor vehicle loans 54.8 71.1 97.1
12 Motor vehicle leases 12.7 9.7 6.6
13 Revolving 8.7 10.5 27.5
14 Other 18.1 17.7 16.0
15 Real estate 131.4 154.7 174.9
16 One- to four-family 75.7 88.3 105.4
17 Other 26.6 38.3 42.9
Securitized real estate
assets(4)
18 One- to four-family 29.0 28.0 24.7
19 Other .1 .2 1.9
20 Business 396.5 459.6 537.7
21 Motor vehicles 79.6 87.8 95.2
22 Retail loans 28.1 33.2 31.0
23 Wholesale loans(5) 32.8 34.7 39.6
24 Leases 18.7 19.9 24.6
25 Equipment 198.0 221.9 267.3
26 Loans 50.4 52.2 56.2
27 Leases 147.6 169.7 211.1
28 Other business
receivables(6) 69.9 95.5 108.6
Securitized assets(4)
29 Motor vehicles 29.2 31.5 37.8
30 Retail loans 2.6 2.9 3.2
31 Wholesale loans 24.7 26.4 32.5
32 Leases 1.9 2.1 2.2
33 Equipment 13.0 14.6 23.1
34 Loans 6.6 7.9 15.5
35 Leases 6.4 6.7 7.6
36 Other business
receivables(6) 6.8 8.4 5.6
2000
Type of credit
Oct. Nov. Dec.
Seasonally adjusted
1 Total 1,134.9 1,136.2 1,145.2
2 Consumer 437.3 439.8 439.3
3 Real estate 174.4 176.6 174.9
4 Business 523.2 519.7 531.0
Not seasonally adjusted
5 Total 1,132.9 1,137.9 1,156.0
6 Consumer 437.9 441.4 443.4
7 Motor vehicles loans 131.8 127.8 122.5
8 Motor vehicle leases 104.3 104.0 102.9
9 Revolving(2) 37.1 38.0 38.3
10 Other(3) 31.9 32.0 32.4
Securitized assets(4)
11 Motor vehicle loans 84.3 91.5 97.1
12 Motor vehicle leases 7.0 6.8 6.6
13 Revolving 25.8 25.8 27.5
14 Other 15.7 15.5 16.0
15 Real estate 174.4 176.6 174.9
16 One- to four-family 104.6 107.0 105.4
17 Other 42.1 42.7 42.9
Securitized real estate
assets(4)
18 One- to four-family 25.7 25.0 24.7
19 Other 1.9 1.9 1.9
20 Business 520.6 519.9 537.7
21 Motor vehicles 95.9 93.3 95.2
22 Retail loans 34.7 32.3 31.0
23 Wholesale loans(5) 37.5 37.3 39.6
24 Leases 23.7 23.8 24.6
25 Equipment 259.4 259.3 267.3
26 Loans 56.1 54.7 56.2
27 Leases 203.3 204.6 211.1
28 Other business
receivables(6) 103.7 103.2 108.6
Securitized assets(4)
29 Motor vehicles 34.2 37.0 37.8
30 Retail loans 2.3 3.1 3.2
31 Wholesale loans 29.5 31.5 32.5
32 Leases 2.4 2.4 2.2
33 Equipment 21.7 21.3 23.1
34 Loans 14.9 14.6 15.5
35 Leases 6.7 6.7 7.6
36 Other business
receivables(6) 5.8 5.8 5.6
2001
Type of credit
Jan. Feb. Mar.
Seasonally adjusted
1 Total 1,156.7(r) 1,159.7(r) 1,159.5
2 Consumer 443.8(r) 447.1(r) 450.8
3 Real estate 177.7 179.0(r) 177.5
4 Business 535.2 533.6(r) 531.3
Not seasonally adjusted
5 Total 1,156.7 1,159.7(r) 1,164.0
6 Consumer 443.9(r) 445.1(r) 446.7
7 Motor vehicles loans 117.5 118.5 118.9
8 Motor vehicle leases 103.3(r) 102.4(r) 102.3
9 Revolving(2) 37.1(r) 36.9(r) 35.6
10 Other(3) 32.4 32.0 31.3
Securitized assets(4)
11 Motor vehicle loans 103.9 105.2 108.1
12 Motor vehicle leases 6.3 6.9 6.6
13 Revolving 27.6 27.6 27.6
14 Other 15.8 15.5(r) 16.2
15 Real estate 177.7 179.0(r) 177.5
16 One- to four-family 108.2 109.5 108.1
17 Other 43.2 43.4(r) 43.5
Securitized real estate
assets(4)
18 One- to four-family 24.4 24.2 23.9
19 Other 1.9 1.9 1.9
20 Business 535.1 535.6(r) 539.8
21 Motor vehicles 93.6 93.6 90.9
22 Retail loans 30.8 30.7 30.5
23 Wholesale loans(5) 38.2 37.6 35.8
24 Leases 24.6 25.3(r) 24.6
25 Equipment 265.6 262.5(r) 264.7
26 Loans 56.3 55.6 57.1
27 Leases 209.3 206.9 207.7
28 Other business
receivables(6) 110.4 114.5 116.2
Securitized assets(4)
29 Motor vehicles 37.3 37.2 40.0
30 Retail loans 3.1 2.9 2.8
31 Wholesale loans 32.1 31.7 34.5
32 Leases 2.2 2.6 2.6
33 Equipment 22.5 22.2 22.5
34 Loans 14.7 14.5 14.6
35 Leases 7.8 7.8 7.9
36 Other business
receivables(6) 5.6 5.6 5.6
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to
the June 1996 Survey of Finance Companies. In that benchmark
survey, and in the monthly surveys that have followed, more detailed
breakdowns have been obtained for some components. In addition,
previously unavailable data on securitized real estate loans are now
included in this table. The new information has resulted in some
reclassification of receivables among the three major categories
(consumer, real estate, and business) and in discontinuities in some
component series between May and June 1996.
Includes finance company subsidiaries of bank holding companies but
not of retailers and banks. Data in this table also appear in the
Board's G.20 (422) monthly statistical release. For ordering
address, see inside front cover.
(1.) Owned receivables are those carried on the balance sheet of
the institution. Managed receivables are outstanding balances of
pools upon which securities have been issued; these balances are
no longer carried on the balance sheets of the loan originator.
Data are shown before deductions for unearned income and losses.
Components may not sum to totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of finance companies.
(3.) Includes personal cash loans, mobile home loans, and loans
to purchase other types of consumer goods, such as appliances,
apparel, boats, and recreation vehicles.
(4.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets
of the loan originator.
(5.) Credit arising from transactions between manufacturers and
dealers, that is, floor plan financing.
(6.) Includes loans on commercial accounts receivable, factored
commercial accounts, and receivable dealer capital; small loans
used primarily for business or farm purposes; and wholesale and
lease paper for mobile homes, campers, and travel trailers.
1.53 MORTGAGE MARKETS Mortgages on New Homes
Millions of dollars except as noted
2000
Item 1998 1999 2000
Oct.
Terms and yields in primary and
secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 195.2 210.7 234.5 240.2
2 Amount of loan (thousands
of dollars) 151.1 161.7 177.0 180.4
3 Loan-to-price ratio
(percent) 80.0 78.7 77.4 77.2
4 Maturity (years) 28.4 28.8 29.2 29.2
5 Fees and charges (percent
of loan amount)(2) .89 .77 .70 .69
Yield (percent per year)
6 Contract rate(1) 6.95 6.94 7.41 7.43
7 Effective rate(1,3) 7.08 7.06 7.52 7.53
8 Contract rate (HUD
series)(4) 7.00 7.45 n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (Section
203)(5) 7.04 7.74 n.a. n.a.
10 GNMA securities(6) 6.43 7.03 7.57 7.30
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 414,515 523,941 610,122 586,756
12 FHA/VA insured 33,770 55,318 61,539 60,329
13 Conventional 380,745 468,623 548,583 526,427
14 Mortgage transactions
purchased (during
period) 188,448 195,210 154,231 18,444
Mortgage commitments
(during period)
15 Issued(7) 193,795 187,948 163,689 17,435
16 To sell(8) 1,880 5,900 11,786 268
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period)(8)
17 Total 255,010 324,443 385,693 365,198
18 FHA/VA insured 785 1,836 3,332 3,530
19 Conventional 254,225 322,607 382,361 361,668
Mortgage transactions
(during period)
20 Purchases 267,402 239,793 174,043 16,195
21 Sales 250,565 233,031 166,901 15,614
22 Mortgage commitments
contracted (during
period)(9) 281,899 228,432 169,231 17,915
2000 2001
Item
Nov. Dec. Jan.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 247.2 250.0 238.7
2 Amount of loan (thousands
of dollars) 184.2 187.3 181.6
3 Loan-to-price ratio
(percent) 76.2 76.5 78.2
4 Maturity (years) 29.2 29.1 29.4
5 Fees and charges (percent
of loan amount)(2) .69 .73 .71
Yield (percent per year)
6 Contract rate(1) 7.36 7.29 7.09
7 Effective rate(1,3) 7.47 7.40 7.20
8 Contract rate (HUD
series)(4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (Section
203)(5) n.a. n.a. n.a.
10 GNMA securities(6) 7.22 6.83 6.57
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 598,951 610,122 623,950
12 FHA/VA insured 60,694 61,539 62,970
13 Conventional 538,257 548,583 560,980
14 Mortgage transactions
purchased (during
period) 17,322 17,193 20,598
Mortgage commitments
(during period)
15 Issued(7) 15,287 20,120 27,325
16 To sell(8) 676 1,436 766
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period)(8)
17 Total 372,819 385,693 391,679
18 FHA/VA insured 3,321 3,332 3,307
19 Conventional 369,498 382,361 388,372
Mortgage transactions
(during period)
20 Purchases 19,402 24,313 15,658
21 Sales 18,823 22,277 15,364
22 Mortgage commitments
contracted (during
period)(9) 20,012 21,780 18,685
2001
Item
Feb. Mar. Apr.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms(1)
1 Purchase price (thousands
of dollars) 245.0 244.5 240.8
2 Amount of loan (thousands
of dollars) 185.4 182.9 181.5
3 Loan-to-price ratio
(percent) 77.9 77.2 77.6
4 Maturity (years) 29.0 28.8 28.5
5 Fees and charges (percent
of loan amount)(2) .70 .66 .71
Yield (percent per year)
6 Contract rate(1) 6.99 6.94 6.96
7 Effective rate(1,3) 7.10 7.04 7.07
8 Contract rate (HUD
series)(4) n.a. n.a. n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (Section
203)(5) n.a. n.a. n.a.
10 GNMA securities(6) 6.61 6.41 6.53
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Mortgage holdings (end of
period)
11 Total 632,850 n.a. n.a.
12 FHA/VA insured 63,337 n.a. n.a.
13 Conventional 569,513 n.a. n.a.
14 Mortgage transactions
purchased (during
period) 17,230 20,899 24,015
Mortgage commitments
(during period)
15 Issued(7) 25,471 n.a. n.a.
16 To sell(8) 835 n.a. n.a.
FEDERAL HOME LOAN MORTGAGE
CORPORATION
Mortgage holdings (end of
period)(8)
17 Total 407,086 421,655 430,960
18 FHA/VA insured 3,319 3,329 2,878
19 Conventional 403,767 418,326 428,082
Mortgage transactions
(during period)
20 Purchases 16,536 24,648 n.a.
21 Sales 15,549 23,367 31,219
22 Mortgage commitments
contracted (during
period)(9) 17,664 26,682 32,758
(1). Weighted averages based on sample surveys of mortgages
originated by major institutional lender groups for purchase of newly
built homes; compiled by the Federal Housing Finance Board in
cooperation with the Federal Deposit Insurance Corporation.
(2.) Includes all fees, commissions, discounts, and "points" paid
(by the borrower or the seller) to obtain a loan.
(3.) Average effective interest rate on loans closed for purchase of
newly built homes, assuming prepayment at the end of ten years.
(4.) Average contract rate on new commitments for conventional first
mortgages; from U.S. Department of Housing and Urban Development
(HUD). Based on transactions on the first day of the subsequent month.
(5.) Average gross yield on thirty-year, minimum-downpayment first
mortgages insured by the Federal Housing Administration (FHA) for
immediate delivery in the private secondary market. Based on
transactions on first day of subsequent month.
(6.) Average net yields to investors on fully modified pass-through
securities backed by mortgages and guaranteed by the Government
National Mortgage Association (GNMA), assuming prepayment in twelve
years on pools of thirty-year mortgages insured by the Federal
Housing Administration or guaranteed by the Department of Veterans
Affairs.
(7.) Does not include standby commitments issued, but includes
standby commitments converted.
(8.) Includes participation loans as well as whole loans.
(9.) Includes conventional and government-underwritten loans. The
Federal Home Loan Mortgage Corporation's mortgage commitments and
mortgage transactions include activity under mortgage securities swap
programs, whereas the corresponding data for the Federal National
Mortgage Association exclude swap activity.
1.54 MORTGAGE DEBT OUTSTANDING(1)
Millions of dollars, end of period
2000
Type of holder
and property 1996 1997 1998
Q1
1 All holders 4,868,298 5,204,119 5,737,161 6,426,515
By type of property
2 One- to four-family
residences 3,718,683 3,973,692 4,362,699 4,832,886
3 Multifamily
residences 288,837 302,291 332,121 387,188
4 Nonfarm,
nonresidential 773,643 837,837 945,836 1,102,565
5 Farm 87,134 90,299 96,506 103,875
By type of holder
6 Major financial
institutions 1,981,886 2,083,981 2,194,813 2,458,194
7 Commercial
banks(2) 1,145,389 1,245,315 1,337,217 1,548,224
8 One- to
four-family 677,603 745,510 797,492 905,270
9 Multifamily 45,451 49,670 54,116 72,509
10 Nonfarm,
nonresidential 397,452 423,148 456,574 537,772
11 Farm 24,883 26,986 29,035 32,673
12 Savings
institu-
tions(3) 628,335 631,826 643,957 680,745
13 One- to
four-family 513,712 520,782 533,918 560,018
14 Multifamily 61,570 59,540 56,821 57,790
15 Nonfarm,
nonresidential 52,723 51,150 52,801 62,444
16 Farm 331 354 417 493
17 Life insurance
companies 208,162 206,840 213,640 229,225
18 One- to
four-family 6,977 7,187 6,590 5,567
19 Multifamily 30,750 30,402 31,522 32,634
20 Nonfarm,
nonresidential 160,315 158,779 164,004 178,043
21 Farm 10,120 10,472 11,524 12,981
22 Federal and related
agencies 295,192 286,194 293,613 322,917
23 Government
National
Mortgage
Association 2 8 7 7
24 One- to
four-family 2 8 7 7
25 Multifamily 0 0 0 0
26 Farmers Home
Adminis-
tration(4) 41,596 41,195 40,851 72,899
27 One- to
four-family 17,303 17,253 16,895 16,456
28 Multifamily 11,685 11,720 11,739 11,732
29 Nonfarm,
nonresidential 6,841 7,370 7,705 40,509
30 Farm 5,768 4,852 4,513 4,202
31 Federal Housing
and Veterans'
Adminis-
trations 6,244 3,811 3,674 3,794
32 One- to
four-family 3,524 1,767 1,849 1,847
33 Multifamily 2,719 2,044 1,825 1,947
34 Resolution Trust
Corporation 0 0 0 0
35 One- to
four-family 0 0 0 0
36 Multifamily 0 0 0 0
37 Nonfarm,
nonresidential 0 0 0 0
38 Farm 0 0 0 0
39 Federal Deposit
Insurance
Corporation 2,431 724 361 98
40 One- to
four-family 365 117 58 16
41 Multifamily 413 140 70 19
42 Nonfarm,
nonresidential 1,653 467 233 63
43 Farm 0 0 0 0
44 Federal National
Mortgage
Association 168,813 161,308 157,675 150,312
45 One- to
four-family 155,008 149,831 147,594 139,986
46 Multifamily 13,805 11,477 10,081 10,326
47 Federal Land Banks 29,602 30,657 32,983 34,142
48 One- to
four-family 1,742 1,804 1,941 2,009
49 Farm 0 0 0 0
50 Federal Home Loan
Mortgage
Corporation 46,504 48,454 57,085 4,656
51 One- to
four-family 41,758 42,629 49,106 4,406
52 Multifamily 4,746 5,825 7,979 250
53 Mortgage pools or
trusts(5) 2,040,847 2,239,350 2,589,800 2,983,365
54 Government
National
Mortgage
Association 506,246 536,879 537,446 589,192
55 One- to
four-family 494,064 523,225 522,498 571,506
56 Multifamily 12,182 13,654 14,948 17,686
57 Federal Home Loan
Mortgage
Corporation 554,260 579,385 646,459 757,106
58 One- to
four-family 551,513 576,846 643,465 752,607
59 Multifamily 2,747 2,539 2,994 4,499
60 Federal National
Mortgage
Association 650,779 709,582 834,517 975,815
61 One- to
four-family 633,209 687,981 804,204 932,178
62 Multifamily 17,570 21,601 30,313 43,637
63 Farmers Home
Adminis-
tration(4) 3 2 1 0
64 One- to
four-family 0 0 0 0
65 Multifamily 0 0 0 0
66 Nonfarm,
nonresidential 0 0 0 0
67 Farm 3 2 1 0
68 Private mortgage
conduits 329,559 413,502 571,378 661,252
69 One- to
four-family(6) 258,800 316,400 412,700 455,623
70 Multifamily 16,369 21,591 34,329 43,069
71 Nonfarm,
nonresidential 54,390 75,511 124,348 162,560
72 Farm 0 0 0 0
73 Individuals and
others(7) 550,372 594,594 658,935 662,039
74 One- to
four-family 363,104 382,315 423,416 442,006
75 Multifamily 68,830 72,088 75,374 77,466
76 Nonfarm,
nonresidential 100,269 121,412 140,171 121,174
77 Farm 18,169 18,779 19,974 21,393
2000 2001
Type of holder
and property
Q2 Q3 Q4 Q1
1 All holders 6,592,329 6,744,667 6,889,962 7,016,475
By type of property
2 One- to four-family
residences 4,962,031 5,087,538 5,193,000 5,284,886
3 Multifamily
residences 390,753 399,232 409,216 418,762
4 Nonfarm,
nonresidential 1,133,107 1,149,940 1,178,909 1,202,752
5 Farm 106,437 107,957 108,836 110,075
By type of holder
6 Major financial
institutions 2,550,201 2,606,592 2,621,076 2,667,125
7 Commercial
banks(2) 1,615,794 1,650,294 1,661,600 1,688,869
8 One- to
four-family 949,223 968,831 966,609 978,227
9 Multifamily 75,795 77,031 77,821 79,890
10 Nonfarm,
nonresidential 557,059 570,513 583,153 596,518
11 Farm 33,717 33,919 34,016 34,234
12 Savings
institu-
tions(3) 701,992 721,563 723,534 741,114
13 One- to
four-family 578,612 595,518 595,053 608,289
14 Multifamily 59,174 60,077 61,094 62,666
15 Nonfarm,
nonresidential 63,688 65,437 66,852 69,589
16 Farm 518 513 535 569
17 Life insurance
companies 232,415 234,735 235,942 237,142
18 One- to
four-family 5,237 4,907 4,904 4,800
19 Multifamily 33,121 33,478 33,681 33,867
20 Nonfarm,
nonresidential 180,701 182,646 183,757 184,774
21 Farm 13,356 13,704 13,600 13,701
22 Federal and related
agencies 332,642 336,682 343,962 346,276
23 Government
National
Mortgage
Association 7 6 6 6
24 One- to
four-family 7 6 6 6
25 Multifamily 0 0 0 0
26 Farmers Home
Adminis-
tration(4) 72,896 73,009 73,323 73,361
27 One- to
four-family 16,435 16,444 16,372 16,297
28 Multifamily 11,729 11,734 11,733 11,725
29 Nonfarm,
nonresidential 40,554 40,665 41,070 41,247
30 Farm 4,179 4,167 4,148 4,093
31 Federal Housing
and Veterans'
Adminis-
trations 3,845 3,395 3,507 2,873
32 One- to
four-family 1,832 1,327 1,308 1,276
33 Multifamily 2,013 2,068 2,199 1,597
34 Resolution Trust
Corporation 0 0 0 0
35 One- to
four-family 0 0 0 0
36 Multifamily 0 0 0 0
37 Nonfarm,
nonresidential 0 0 0 0
38 Farm 0 0 0 0
39 Federal Deposit
Insurance
Corporation 72 82 45 50
40 One- to
four-family 12 13 7 8
41 Multifamily 14 16 9 10
42 Nonfarm,
nonresidential 46 53 29 32
43 Farm 0 0 0 0
44 Federal National
Mortgage
Association 153,507 152,815 155,363 156,294
45 One- to
four-family 142,478 141,786 144,150 145,014
46 Multifamily 11,029 11,029 11,213 11,280
47 Federal Land Banks 34,830 35,549 36,326 37,072
48 One- to
four-family 2,049 2,092 2,137 2,181
49 Farm 0 0 0 0
50 Federal Home Loan
Mortgage
Corporation 10,513 14,780 16,152 16,510
51 One- to
four-family 10,213 14,450 15,931 16,292
52 Multifamily 300 330 221 218
53 Mortgage pools or
trusts(5) 3,034,691 3,115,138 3,231,195 3,305,311
54 Government
National
Mortgage
Association 590,708 602,628 611,629 601,540
55 One- to
four-family 572,661 584,152 592,700 581,760
56 Multifamily 18,047 18,476 18,929 19,780
57 Federal Home Loan
Mortgage
Corporation 768,641 790,891 822,310 833,616
58 One- to
four-family 763,890 786,007 816,602 827,769
59 Multifamily 4,751 4,884 5,708 5,847
60 Federal National
Mortgage
Association 995,815 1,020,828 1,057,750 1,099,049
61 One- to
four-family 957,584 981,206 1,016,398 1,055,412
62 Multifamily 38,231 39,622 41,352 43,637
63 Farmers Home
Adminis-
tration(4) 0 0 0 0
64 One- to
four-family 0 0 0 0
65 Multifamily 0 0 0 0
66 Nonfarm,
nonresidential 0 0 0 0
67 Farm 0 0 0 0
68 Private mortgage
conduits 679,527 700,791 739,506 771,106
69 One- to
four-family(6) 464,593 477,899 499,834 523,300
70 Multifamily 44,290 45,991 49,322 50,639
71 Nonfarm,
nonresidential 170,644 176,901 190,350 197,167
72 Farm 0 0 0 0
73 Individuals and
others(7) 674,794 686,254 693,729 697,763
74 One- to
four-family 454,314 470,762 478,118 481,485
75 Multifamily 78,179 79,587 79,566 80,268
76 Nonfarm,
nonresidential 120,415 113,725 113,697 113,424
77 Farm 21,886 22,179 22,348 22,586
(1.) Multifamily debt refers to loans on structures of five or more
units.
(2.) Includes loans held by nondeposit trust companies but not loans
held by bank trust departments.
(3.) Includes savings banks and savings and loan associations.
(4.) FmHA-guaranteed securities sold to the Federal Financing Bank were
reallocated from FmHA mortgage pools to FmHA mortgage holdings in
1986:Q4 because of accounting changes by the Farmers Home
Administration.
(5.) Outstanding principal balances of mortgage-backed securities
insured or guaranteed by the agency indicated.
(6.) Includes securitized home equity loans.
(7.) Other holders include mortgage companies, real estate investment
trusts, state and local credit agencies, state and local retirement
funds, noninsured pension funds, credit unions, and finance companies.
SOURCE. Based on data from various institutional and government
sources. Separation of nonfarm mortgage debt by type of property, if
not reported directly, and interpolations and extrapolations, when
required for some quarters, are estimated in part by the Federal
Reserve. Line 69 from Inside Mortgage Securities and other sources.
1.55 CONSUMER CREDIT(1)
Millions of dollars, amounts outstanding, end of period
Holder and type of credit 1998 1999 2000(r)
Seasonally adjusted
1 Total 1,301,023 1,393,657 1,533,153
2 Revolving 560,504 595,610 663,827
3 Nonrevolving(2) 740,519 798,047 869,326
Not seasonally adjusted
4 Total 1,331,742 1,426,151 1,568,151
By major holder
5 Commercial banks 508,932 499,758 543,711
6 Finance companies 168,491 181,573 193,189
7 Credit unions 155,406 167,921 184,434
8 Savings institutions 51,611 61,527 64,009
9 Nonfinancial business 74,877 80,311 82,662
10 Pools of securitized
assets(3) 372,425 435,061 500,147
By major type of credit(4)
11 Revolving 586,528 623,245 693,641
12 Commercial banks 210,346 189,352 218,063
13 Finance companies 32,309 33,814 38,251
14 Credit unions 19,930 20,641 22,226
15 Savings institutions 12,450 15,838 16,556
16 Nonfinancial business 39,166 42,783 42,430
17 Pools of securitized
assets(3) 272,327 320,817 356,114
18 Nonrevolving 745,214 802,906 874,510
19 Commercial banks 298,586 310,406 325,648
20 Finance companies 136,182 147,759 154,938
21 Credit unions 135,476 147,280 162,208
22 Savings institutions 39,161 45,689 47,452
23 Nonfinancial business 35,711 37,528 40,231
24 Pools of securitized
assets(3) 100,098 114,244 144,032
2000
Holder and type of credit
Oct.(r) Nov.(r) Dec.
Seasonally adjusted
1 Total 1,510,004 1,526,196 1,533,153(r)
2 Revolving 654,948 660,990 663,827(r)
3 Nonrevolving(2) 855,056 865,206 869,326(r)
Not seasonally adjusted
4 Total 1,514,144 1,533,965 1,568,151(r)
By major holder
5 Commercial banks 522,515 531,405 543,711
6 Finance companies 200,846 197,759 193,189
7 Credit unions 182,806 183,772 184,434(r)
8 Savings institutions 63,018 63,514 64,009
9 Nonfinancial business 70,799 73,786 82,662(r)
10 Pools of securitized
assets(3) 474,159 483,729 500,147
By major type of credit(4)
11 Revolving 652,965 664,460 693,641(r)
12 Commercial banks 200,517 206,121 218,063
13 Finance companies 37,147 37,956 38,251
14 Credit unions 21,101 21,656 22,226(r)
15 Savings institutions 16,403 16,480 16,556
16 Nonfinancial business 34,484 36,430 42,430
17 Pools of securitized
assets(3) 343,313 345,817 356,114
18 Nonrevolving 861,179 869,505 874,510(r)
19 Commercial banks 321,998 325,284 325,648
20 Finance companies 163,700 159,803 154,938
21 Credit unions 161,705 162,116 162,208(r)
22 Savings institutions 46,615 47,034 47,452
23 Nonfinancial business 36,315 37,356 40,231(r)
24 Pools of securitized
assets(3) 130,847 137,912 144,032
2001
Holder and type of credit
Jan.(r) Feb.(r) Mar.
Seasonally adjusted
1 Total 1,548,166 1,560,534 1,565,295
2 Revolving 669,298 679,280 684,886
3 Nonrevolving(2) 878,868 881,253 880,409
Not seasonally adjusted
4 Total 1,560,028 1,555,682 1,552,942
By major holder
5 Commercial banks 539,988 533,251 530,601
6 Finance companies 187,029 187,493 185,863
7 Credit unions 184,120 183,548 182,477
8 Savings institutions 64,030 64,051 64,072
9 Nonfinancial business 77,698 73,021 71,669
10 Pools of securitized
assets(3) 507,163 514,318 518,260
By major type of credit(4)
11 Revolving 681,321 680,037 677,893
12 Commercial banks 210,441 205,934 205,522
13 Finance companies 37,098 36,938 35,626
14 Credit unions 21,714 21,415 20,829
15 Savings institutions 16,775 16,994 17,212
16 Nonfinancial business 38,935 35,290 34,150
17 Pools of securitized
assets(3) 356,359 363,466 364,554
18 Nonrevolving 878,707 875,646 875,049
19 Commercial banks 329,546 327,317 325,079
20 Finance companies 149,931 150,555 150,238
21 Credit unions 162,406 162,133 161,648
22 Savings institutions 47,255 47,057 46,860
23 Nonfinancial business 38,764 37,731 37,519
24 Pools of securitized
assets(3) 150,804 150,852 153,706
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals, excluding loans
secured by real estate. Data in this table also appear in the Board's
G.19 (421) monthly statistical release. For ordering address, see
inside front cover.
(2.) Comprises motor vehicle loans, mobile home loans, and all other
loans that are not included in revolving credit, such as loans for
education, boats, trailers, or vacations. These loans may be secured
or unsecured.
(3.) Outstanding balances of pools upon which securities have been
issued; these balances are no longer carried on the balance sheets of
the loan originator.
(4.) Totals include estimates for certain holders for which only
consumer credit totals are available.
1.56 TERMS OF CONSUMER CREDIT(1)
Percent per year except as noted
Item 1998 1999 2000
INTEREST RATES
Commercial banks(2)
1 48-month new car 8.72 8.44 9.34
2 24-month personal 13.74 13.39 13.90
Credit card plan
3 All accounts 15.71 15.21 15.71
4 Accounts assessed interest 15.59 14.81 14.91
Auto finance companies
5 New car 6.30 6.66 6.61
6 Used car 12.64 12.60 13.55
OTHER TERMS(3)
Maturity (months)
7 New car 52.1 52.7 54.9
8 Used car 53.5 55.9 57.0
Loan-to-value ratio
9 New car 92 92 92
10 Used car 99 99 99
Amount financed (dollars)
11 New car 19,083 19,880 20,923
12 Used car 12,691 13,642 14,058
2000
Item
Sept. Oct. Nov. Dec.
INTEREST RATES
Commercial banks(2)
1 48-month new car n.a. n.a. 9.63 n.a.
2 24-month personal n.a. n.a. 14.12 n.a.
Credit card plan
3 All accounts n.a. n.a. 15.99 n.a.
4 Accounts assessed interest n.a. n.a. 15.23 n.a.
Auto finance companies
5 New car 7.16 4.74 5.41 7.45
6 Used car 13.91 13.87 13.66 13.58
OTHER TERMS(3)
Maturity (months)
7 New car 55.9 57.6 57.3 55.2
8 Used car 57.0 57.0 56.8 56.6
Loan-to-value ratio
9 New car 91 93 93 91
10 Used car 100 100 100 100
Amount financed (dollars)
11 New car 21,010 22,069 22,443 21,867
12 Used car 13,950 13,978 14,325 14,591
2001
Item
Jan. Feb.(r) Mar.
INTEREST RATES
Commercial banks(2)
1 48-month new car n.a. 9.17 n.a.
2 24-month personal n.a. 13.71 n.a.
Credit card plan
3 All accounts n.a. 15.66 n.a.
4 Accounts assessed interest n.a. 14.61 n.a.
Auto finance companies
5 New car 7.29 7.19 6.80
6 Used car 13.11 13.34 13.19
OTHER TERMS(3)
Maturity (months)
7 New car 54.3 55.5 55.6
8 Used car 57.8 58.0 58.0
Loan-to-value ratio
9 New car 90 91 91
10 Used car 98 99 100
Amount financed (dollars)
11 New car 21,315 21,993 22,131
12 Used car 14,155 14,095 14,214
(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 govemment 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 Bankloans 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 Bank loans n.e.c 8.5 9.1 8.5
27 Other loans and advances -.5 1.0 -1.8
28 Total domestic plus foreign 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 paper 42.7 92.2 166.7
36 Corporate bonds 195.9 173.8 210.5
37 Bankloans n.e.c 2.5 12.6 13.2
38 Other loans and advances 3.4 27.9 35.6
39 Mortgages 5.3 7.9 14.9
By borrowing sector
40 Commercial banking 22.5 13.0 46.1
41 Savings institutions 2.6 25.5 19.7
42 Credit unions -.1 .1 .1
43 Life insurance companies -.1 1.1 .2
44 Government-sponsored
enterprises 105.9 90.4 98.4
45 Federally related
mortgage pools 98.3 141.0 114.6
46 Issuers of asset-backed
securities (ABSs) 142.4 150.8 202.2
47 Finance companies 50.2 45.9 48.7
48 Mortgage companies -2.2 4.1 -4.6
49 Real estate investment
trusts (REITs) 4.5 11.9 39.6
50 Brokers and 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 131.7(r) 231.7(r) 181.2
62 Corporate equities -15.7(r) -5.9(r) -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 -7.8(r) -19.2(r) -27.1
66 Mutual fund shares 147.4 237.6 265.1
1999
Transaction category or sector 1998 1999
Q3
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,011.4(r) 1,088.8(r) 1,150.9(r)
By sector and instrument
2 Federal govemment -52.6 -71.2 -68.9
3 Treasury securities -54.6 -71.0 -68.9
4 Budget agency securities
and mortgages 2.0 -.2 .0
5 Nonfederal 1,064.0(r) 1,160.0(r) 1,219.8(r)
By instrument
6 Commercial paper 24.4 37.4 49.8
7 Municipal securities
and loans 96.8 68.2 71.3
8 Corporate bonds 218.7 229.9 202.8
9 Bankloans n.e.c. 108.2 82.7 112.3
10 Other loans and advances 74.3 60.6(r) 74.0(r)
11 Mortgages 474.0(r) 586.9(r) 633.4(r)
12 Home 379.7(r) 426.1(r) 473.6(r)
13 Multifamily residential 19.9(r) 39.6(r) 40.6(r)
14 Commercial 68.2(r) 115.6(r) 112.2(r)
15 Farm 6.2 5.5 7.0
16 Consumer credit 67.6 94.4 76.2
By borrowing sector
17 Household 472.1(r) 532.4(r) 574.8(r)
18 Nonfinancial business 511.7(r) 575.3(r) 592.6(r)
19 Corporate 392.0(r) 454.7(r) 452.5(r)
20 Nonfarm noncorporate 112.0(r) 115.3 131.6
21 Farm 7.7 5.2 8.5
22 State and local government 80.3 52.3 52.5
23 Foreign net borrowing
in United States 43.3 25.3 77.3
24 Commercial paper 7.8 16.3 41.1
25 Bonds 34.8 14.2 44.0
26 Bank loans n.e.c 6.7 .5 -6.6
27 Other loans and advances -6.0 -5.7 -1.1
28 Total domestic plus foreign 1,054.7(r) 1,114.1(r) 1,228.2(r)
Financial sectors
29 Total net borrowing by
financial sectors 1,073.9 1,077.2(r) 1,059.1(r)
By instrument
30 Federal government-related 470.9 592.0 651.6
31 Government-sponsored
enterprise securities 278.3 318.2 407.1
32 Mortgage pool securities 192.6 273.8 244.5
33 Loans from U. S.
government .0 .0 .0
34 Private 603.0 485.3(r) 407.5(r)
35 Open market paper 161.0 176.2 89.9
36 Corporate bonds 296.9 211.1(r) 174.4(r)
37 Bankloans n.e.c 30.1 -14.3 -5.9
38 Other loans and advances 90.2 107.1 139.8
39 Mortgages 24.8 5.1 9.4
By borrowing sector
40 Commercial banking 72.9 67.2 107.0
41 Savings institutions 52.2 48.0 51.9
42 Credit unions .6 2.2 2.8
43 Life insurance companies .7 .7 1.1
44 Government-sponsored
enterprises 278.3 318.2 407.1
45 Federally related
mortgage pools 192.6 273.8 244.5
46 Issuers of asset-backed
securities (ABSs) 321.4 223.4(r) 215.4(r)
47 Finance companies 43.0 62.4 -17.2
48 Mortgage companies 1.6 .2 -6.1
49 Real estate investment
trusts (REITs) 62.7 6.3 7.9
50 Brokers and dealers 7.2 -17.2 17.8
51 Funding corporations 40.7 92.2 27.0
All sectors
52 Total net borrowing,
all sectors 2,128.6(r) 2,191.3(r) 2,287.4(r)
53 Open market paper 193.1 229.9 180.7
54 U.S. government securities 418.3 520.7 582.7
55 Municipal securities 96.8 68.2 71.3
56 Corporate and foreign bonds 550.4 455.2(r) 421.2(r)
57 Bank loans n.e.c. 145.0 68.9 99.8
58 Other loans and advances 158.5 162.0(r) 212.8(r)
59 Mortgages 498.8(r) 592.0(r) 642.7(r)
60 Consumer credit 67.6 94.4 76.2
Funds raised through mutual funds
and corporate equities
61 Total net issues 101.6(r) 161.6(r) 129.6(r)
62 Corporate equities -173.0(r) -26.7(r) 2.2(r)
63 Nonfinancial corporations -267.0 -143.5 -128.4
64 Foreign shares purchased
by U.S. residents 101.2 114.4 121.7
65 Financial corporations -7.3(r) 2.4(r) 8.8(r)
66 Mutual fund shares 274.6 188.3 127.5
1999 2000
Transaction category or sector
Q4 Q1 Q2
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 1,051.9(r) 917.1(r) 952.3(r)
By sector and instrument
2 Federal govemment -34.0 -215.5 -414.0
3 Treasury securities -34.0 -213.5 -415.8
4 Budget agency securities
and mortgages .0 -2.1 1.8
5 Nonfederal 1,085.9(r) 1,132.6(r) 1,366.2(r)
By instrument
6 Commercial paper 44.0 29.8 110.4
7 Municipal securities
and loans 52.5 8.9 34.0
8 Corporate bonds 155.2 186.2 153.8
9 Bankloans n.e.c. 108.6 131.9 163.1
10 Other loans and advances 39.7(r) 155.6(r) 126.6(r)
11 Mortgages 576.3(r) 475.0(r) 640.4(r)
12 Home 391.3(r) 336.5(r) 482.4(r)
13 Multifamily residential 51.0 28.8(r) 43.9(r)
14 Commercial 131.6(r) 102.3(r) 104.3(r)
15 Farm 2.5 7.3(r) 9.7(r)
16 Consumer credit 109.5 145.3(r) 137.9(r)
By borrowing sector
17 Household 492.2(r) 516.2(r) 632.7(r)
18 Nonfinancial business 560.1(r) 612.7(r) 712.7(r)
19 Corporate 421.9(r) 480.8(r) 578.5(r)
20 Nonfarm noncorporate 132.7 116.5 125.1
21 Farm 5.6 15.4(r) 9.1(r)
22 State and local government 33.6 3.8 20.8
23 Foreign net borrowing
in United States 17.6 118.0 -7.6
24 Commercial paper 33.6 57.8 12.0
25 Bonds -2.7 45.7 -27.4
26 Bank loans n.e.c 2.3 15.4 5.7
27 Other loans and advances -15.5 -.9 2.0
28 Total domestic plus foreign 1,069.5(r) 1,035.1(r) 944.6(r)
Financial sectors
29 Total net borrowing by
financial sectors 1,047.6(r) 586.4(r) 819.3(r)
By instrument
30 Federal government-related 550.1 248.6 370.4(r)
31 Government-sponsored
enterprise securities 367.9 104.9 248.9
32 Mortgage pool securities 182.2 143.7 121.6(r)
33 Loans from U. S.
government .0 .0 .0
34 Private 497.4(r) 337.8(r) 448.9(r)
35 Open market paper 479.0 130.9 77.4
36 Corporate bonds -36.6(r) 135.1(r) 233.0(r)
37 Bankloans n.e.c -55.6 .3 5.4
38 Other loans and advances 107.5 64.4 123.1
39 Mortgages 3.2 7.0 10.0
By borrowing sector
40 Commercial banking 54.1 72.4 113.2
41 Savings institutions 5.8 40.6 59.1
42 Credit unions 3.3 -2.9 .9
43 Life insurance companies -4.4 -.7 -1.1
44 Government-sponsored
enterprises 367.9 104.9 248.9
45 Federally related
mortgage pools 182.2 143.7 121.6(r)
46 Issuers of asset-backed
securities (ABSs) 108.6(r) 134.6(r) 157.1(r)
47 Finance companies 99.2 52.3 103.9
48 Mortgage companies 6.2 -3.0 2.7
49 Real estate investment
trusts (REITs) 11.3 11.5 9.8
50 Brokers and dealers -37.3 44.4 -.7
51 Funding corporations 250.6 -11.4 4.0
All sectors
52 Total net borrowing,
all sectors 2,117.1(r) 1,621.5(r) 1,763.9(r)
53 Open market paper 556.6 218.4 199.8
54 U.S. government securities 516.1 33.0 -43.5(r)
55 Municipal securities 52.5 8.9 34.0
56 Corporate and foreign bonds 115.9(r) 367.0(r) 359.5(r)
57 Bank loans n.e.c. 55.2 147.7 174.2
58 Other loans and advances 131.7(r) 219.2(r) 251.7(r)
59 Mortgages 579.5(r) 482.0(r) 650.4(r)
60 Consumer credit 109.5 145.3(r) 137.9(r)
Funds raised through mutual funds
and corporate equities
61 Total net issues 178.1(r) 366.3(r) 142.4(r)
62 Corporate equities 5.2(r) 60.2(r) -95.2(r)
63 Nonfinancial corporations -55.0 61.2(r) -245.2(r)
64 Foreign shares purchased
by U.S. residents 71.3 63.3 180.1
65 Financial corporations -11.1(r) -64.2(r) -30.2(r)
66 Mutual fund shares 172.8 306.1 237.6
2000 2001
Transaction category or sector
Q3 Q4 Q1
Nonfinancial sectors
1 Total net borrowing by
domestic nonfinancial
sectors 752.2 829.1 965.5
By sector and instrument
2 Federal govemment -219.5 -334.5 -10.8
3 Treasury securities -217.1 -333.3 -8.6
4 Budget agency securities
and mortgages -2.4 -1.2 -2.2
5 Nonfederal 971.8 1,163.5 976.3
By instrument
6 Commercial paper 56.1 -4.0 -207.2
7 Municipal securities
and loans 29.8 68.6 94.3
8 Corporate bonds 184.4 175.6 400.0
9 Bankloans n.e.c. 31.7 86.5 -11.3
10 Other loans and advances -10.1 145.1 -8.9
11 Mortgages 557.4 568.1 553.8
12 Home 428.4 413.5 406.3
13 Multifamily residential 29.5 40.3 40.8
14 Commercial 93.2 110.6 101.5
15 Farm 6.2 3.7 5.1
16 Consumer credit 122.5 123.7 155.6
By borrowing sector
17 Household 550.5 565.2 559.9
18 Nonfinancial business 397.6 537.9 326.5
19 Corporate 282.3 407.5 231.8
20 Nonfarm noncorporate 109.3 116.5 85.7
21 Farm 6.0 13.9 9.1
22 State and local government 23.6 60.4 89.9
23 Foreign net borrowing
in United States 89.3 66.3 -27.0
24 Commercial paper 7.0 50.1 -25.4
25 Bonds 71.8 9.2 -1.4
26 Bank loans n.e.c 11.9 12.2 10.3
27 Other loans and advances -1.5 -5.2 -10.5
28 Total domestic plus foreign 841.5 895.4 938.4
Financial sectors
29 Total net borrowing by
financial sectors 725.5 1,075.9 893.6
By instrument
30 Federal government-related 503.4 612.1 461.1
31 Government-sponsored
enterprise securities 278.1 304.8 264.1
32 Mortgage pool securities 225.3 307.3 197.0
33 Loans from U. S.
government .0 .0 .0
34 Private 222.1 463.8 432.5
35 Open market paper 65.2 237.5 -119.5
36 Corporate bonds 188.3 211.6 456.8
37 Bankloans n.e.c -.7 -6.2 23.6
38 Other loans and advances -36.7 19.1 79.2
39 Mortgages 6.0 1.8 -7.5
By borrowing sector
40 Commercial banking 23.5 30.8 138.4
41 Savings institutions -23.4 32.7 40.8
42 Credit unions 1.1 1.0 -.2
43 Life insurance companies -.3 -.7 -2.4
44 Government-sponsored
enterprises 278.1 304.8 264.1
45 Federally related
mortgage pools 225.3 307.3 197.0
46 Issuers of asset-backed
securities (ABSs) 148.0 311.3 277.0
47 Finance companies 96.9 45.6 -43.8
48 Mortgage companies -.3 1.0 .7
49 Real estate investment
trusts (REITs) -2.4 -8.1 -6.1
50 Brokers and dealers 25.4 -6.6 -23.9
51 Funding corporations -46.4 56.8 51.8
All sectors
52 Total net borrowing,
all sectors 1,567.0 1,971.3 1,832.1
53 Open market paper 128.4 283.6 -352.1
54 U.S. government securities 283.8 277.6 450.3
55 Municipal securities 29.8 68.6 94.3
56 Corporate and foreign bonds 444.6 396.4 855.4
57 Bank loans n.e.c. 42.9 92.5 22.6
58 Other loans and advances -48.3 159.0 59.7
59 Mortgages 563.4 569.9 546.3
60 Consumer credit 122.5 123.7 155.6
Funds raised through mutual
funds and corporate equities
61 Total net issues 170.9 -170.9 127.4
62 Corporate equities -88.9 -342.0 22.7
63 Nonfinancial corporations -87.7 -394.8 -33.9
64 Foreign shares purchased
by U.S. residents 61.1 90.5 79.8
65 Financial corporations -62.3 -37.8 -23.2
66 Mutual fund shares 259.8 171.1 104.7
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.2 through F.4. For ordering address, see
inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS(1)
Billions of dollars except as noted; quarterly data at
seasonally adjusted annual rates
Transaction category or sector 1995 1996 1997
NET LENDING IN
CREDIT MARKETS(2)
1 Total net lending in credit
markets 1,243.7 1,365.4 1,530.1
2 Domestic nonfederal
nonfinancial sectors -65.7(r) 81.0(r) -17.3(r)
3 Household 29.7(r) 129.3(r) -2.6(r)
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 1,036.0(r) 877.1(r) 1,231.0(r)
10 Monetary authority 12.7 12.3 38.3
11 Commercial banking 265.9 187.5 324.3
12 U.S.-chartered banks 186.5 119.6 274.9
13 Foreign banking offices
in United States 75.4 63.3 40.2
14 Bank holding companies -.3 3.9 5.4
15 Banks in
U.S.-affiliated areas 4.2 .7 3.7
16 Savings institutions -7.6 19.9 -4.7
17 Credit unions 16.2 25.5 16.8
18 Bank personal trusts
and estates -8.3 -7.7 -25.0
19 Life insurance companies 100.0 69.6 104.8
20 Other insurance companies 21.5 22.5 25.2
21 Private pension funds 19.9 -4.1 47.6
22 State and local
government
retirement funds 38.3(r) 35.8(r) 67.1(r)
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 -2.6(r)
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 -15.7(r) -5.9(r) -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 158.8(r) 148.3(r) 201.4(r)
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 36.5(r) -11.9(r) -50.2(r)
54 Miscellaneous 505.4 532.1 487.5
55 Total financial sources 2,746.6(r) 2,928.8(r) 3,245.7(r)
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 -208.4(r) -137.2(r) -148.6(r)
Floats not included
in assets (-)
62 Federal government
checkable deposits -6.0 .5 -2.7
63 Other checkable deposits -3.8 -4.0 -3.9
64 Trade credit 14.1 -21.9 -28.5
65 Total identified to
sectors as assets 2,882.3(r) 3,010.1(r) 3,250.9(r)
1999
Transaction category or sector 1998 1999
Q3
NET LENDING IN
CREDIT MARKETS(2)
1 Total net lending in credit
markets 2,128.6(r) 2,191.3(r) 2,287.4(r)
2 Domestic nonfederal
nonfinancial sectors 106.3(r) 231.5(r) 202.7(r)
3 Household -12.2(r) 189.4(r) 238.4(r)
4 Nonfinancial corporate
business -16.0(r) -2.8(r) 5.8(r)
5 Nonfarm noncorporate
business .1 1.5 .8
6 State and local
governments 134.5 43.4 -42.4
7 Federal government 13.5 5.8 11.2
8 Rest of the world 254.2 210.6 385.3
9 Financial sectors 1,754.5(r) 1,743.4(r) 1,688.2(r)
10 Monetary authority 21.1 25.7 20.6
11 Commercial banking 305.2 308.2 449.4
12 U.S.-chartered banks 312.0 317.6 421.9
13 Foreign banking offices
in United States -11.9 -20.1 33.2
14 Bank holding companies -.9 6.2 -12.4
15 Banks in
U.S.-affiliated areas 6.0 4.4 6.6
16 Savings institutions 36.1(r) 68.6(r) 58.1
17 Credit unions 19.0 27.5 27.5
18 Bank personal trusts
and estates -12.8 27.8 27.8
19 Life insurance companies 76.9 53.5 36.8
20 Other insurance companies 20.4 -4.2 -14.4
21 Private pension funds 56.4 45.0 5.9
22 State and local
government
retirement funds 72.1(r) 46.9(r) 40.0
23 Money market mutual funds 244.0 182.0 224.8
24 Mutual funds 124.8 47.2 -13.0
25 Closed-end funds 5.5(r) 6.9(r) 6.9(r)
26 Government-sponsored
enterprises 261.7 235.5 275.9
27 Federally related
mortgage pools 192.6 273.8 244.5
28 Asset-backed securities
issuers (ABSs) 281.7 205.2(r) 206.9(r)
29 Finance companies 51.9 94.9 91.7
30 Mortgage companies 3.2 .3 -12.1
31 Real estate investment
trusts (REITs) -5.1 -2.6 -2.7
32 Brokers and dealers 6.8 -34.7 -6.7
33 Funding corporations -6.9(r) 135.9(r) 20.3(r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,128.6(r) 2,191.3(r) 2,287.4(r)
Other financial sources
35 Official foreign exchange 6.6 -8.7 -8.5
36 Special drawing rights
certificates .0 -3.0 -4.0
37 Treasury currency .6 1.0 2.0
38 Foreign deposits 2.0 86.5 69.4
39 Net interbank transactions -32.3 17.6 -30.8
40 Checkable deposits and
currency 47.4 151.4 139.3
41 Small time and savings
deposits 152.4 44.7 119.1
42 Large time deposits 92.1 130.6 102.7
43 Money market fund shares 287.2 249.1 174.3
44 Security repurchase
agreements 91.3 169.7 191.4
45 Corporate equities -173.0(r) -26.7(r) 2.2(r)
46 Mutual fund shares 274.6 188.3 127.5
47 Trade payables 96.0(r) 207.3(r) 257.9(r)
48 Security credit 103.3 104.3 29.7
49 Life insurance reserves 48.0 50.8 48.1
50 Pension fund reserves 202.1(r) 184.5(r) 191.7(r)
51 Taxes payable 12.0 16.1(r) .4
52 Investment in bank
personal trusts -42.5 -7.1 -7.2
53 Noncorporate proprietors'
equity -50.0(r) -10.8(r) -59.6(r)
54 Miscellaneous 936.5(r) 654.6(r) 499.0(r)
55 Total financial sources 4,182.8(r) 4,391.3(r) 4,131.7(r)
Liabilities not identified
as assets (-)
56 Treasury currency -.1 -.7 .2
57 Foreign deposits -13.0(r) 71.3(r) 26.4(r)
58 Net interbank liabilities 3.4 3.5 -7.0
59 Security repurchase
agreements 60.4(r) 29.9(r) 131.1(r)
60 Taxes payable 13.9 3.6(r) 3.0
61 Miscellaneous -207.7(r) -436.0(r) -540.7(r)
Floats not included
in assets (-)
62 Federal government
checkable deposits 2.6 -7.4 8.6
63 Other checkable deposits -3.1 -.8 -.3
64 Trade credit -44.6(r) 57.5(r) 79.3(r)
65 Total identified to
sectors as assets 4,371.1(r) 4,670.4(r) 4,431.1(r)
1999 2000
Transaction category or sector
Q4 Q1 Q2
NET LENDING IN
CREDIT MARKETS(2)
1 Total net lending in credit
markets 2,117.1(r) 1,621.5(r) 1,763.9(r)
2 Domestic nonfederal
nonfinancial sectors -41.2(r) -148.2(r) 120.8(r)
3 Household 2.7(r) -224.5(r) 61.8(r)
4 Nonfinancial corporate
business -47.6(r) 71.5(r) 14.9(r)
5 Nonfarm noncorporate
business 1.4 2.6 2.8
6 State and local
governments 2.4 2.3 41.4
7 Federal government -11.7 6.5 7.7
8 Rest of the world 138.7 325.9 207.1
9 Financial sectors 2,031.3(r) 1,437.2(r) 1,428.4(r)
10 Monetary authority -42.2 103.4 -3.9
11 Commercial banking 548.7 377.1 484.6
12 U.S.-chartered banks 457.7 409.2 505.6
13 Foreign banking offices
in United States 42.0 4.8 -29.9
14 Bank holding companies 42.6 -42.2 3.5
15 Banks in
U.S.-affiliated areas 6.3 5.4 5.4
16 Savings institutions 20.2 56.3(r) 71.2(r)
17 Credit unions 18.8 35.6 36.6
18 Bank personal trusts
and estates 27.8 18.9 13.8
19 Life insurance companies 30.7 51.3(r) 50.9(r)
20 Other insurance companies -9.4 -14.0 -18.1
21 Private pension funds 49.8 46.8 24.7
22 State and local
government
retirement funds 46.2(r) 63.3(r) 31.5(r)
23 Money market mutual funds 354.5 208.8 -156.2
24 Mutual funds -12.7 -77.8 63.7
25 Closed-end funds 6.9(r) -8.8(r) -8.8(r)
26 Government-sponsored
enterprises 225.3 138.2(r) 222.3(r)
27 Federally related
mortgage pools 182.2 143.7 121.6(r)
28 Asset-backed securities
issuers (ABSs) 78.8(r) 114.0(r) 122.6(r)
29 Finance companies 114.4 132.9 138.9
30 Mortgage companies 12.3 -6.0 5.5
31 Real estate investment
trusts (REITs) -7.0 -16.3 -2.5
32 Brokers and dealers -30.5 96.6(r) 58.6(r)
33 Funding corporations 416.5(r) -26.6(r) 171.6(r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 2,117.1(r) 1,621.5(r) 1,763.9(r)
Other financial sources
35 Official foreign exchange -7.0 1.5 -8.8
36 Special drawing rights
certificates -4.0 .0 -8.0
37 Treasury currency .0 2.2 3.2
38 Foreign deposits 52.7 258.5 8.5
39 Net interbank transactions -40.7 -64.7(r) 150.3(r)
40 Checkable deposits and
currency 365.2 -219.1 -65.0
41 Small time and savings
deposits 28.0 104.3 130.3
42 Large time deposits 359.4 149.2 108.4
43 Money market fund shares 485.5 241.0 48.2
44 Security repurchase
agreements 310.5 257.4(r) 156.8(r)
45 Corporate equities 5.2(r) 60.2(r) -95.2(r)
46 Mutual fund shares 172.8 306.1 237.6
47 Trade payables 219.1(r) 211.8(r) 122.6(r)
48 Security credit 321.3 489.9(r) -86.2(r)
49 Life insurance reserves 57.6 54.9(r) 45.6(r)
50 Pension fund reserves 164.0(r) 212.7(r) 262.7(r)
51 Taxes payable 18.3(r) 22.7(r) 29.9(r)
52 Investment in bank
personal trusts -6.9 -5.9 -10.6
53 Noncorporate proprietors'
equity 7.0(r) -20.7(r) -3.6(r)
54 Miscellaneous 518.4(r) 962.3(r) 1,194.5(r)
55 Total financial sources 5,143.8(r) 4,645.7(r) 3,985.3(r)
Liabilities not identified
as assets (-)
56 Treasury currency -2.2 -1.8 -.7
57 Foreign deposits 114.4(r) 211.5(r) -77.1(r)
58 Net interbank liabilities -23.7 24.4 -4.3
59 Security repurchase
agreements -225.4(r) 560.7(r) 56.8(r)
60 Taxes payable -4.9(r) 7.9(r) 5.7(r)
61 Miscellaneous -319.1(r) -437.9(r) -323.0(r)
Floats not included
in assets (-)
62 Federal government
checkable deposits -9.2 28.7 -2.6
63 Other checkable deposits .0 .6 1.5
64 Trade credit 185.5(r) -19.9(r) -47.8(r)
65 Total identified to
sectors as assets 5,428.4(r) 4,271.7(r) 4,377.0(r)
2000 2001
Transaction category or sector
Q3 Q4 Q1
NET LENDING IN
CREDIT MARKETS(2)
1 Total net lending in credit
markets 1,567.0 1,971.3 1,832.1
2 Domestic nonfederal
nonfinancial sectors -236.9 -212.5 -261.2
3 Household -218.5 -233.3 -279.3
4 Nonfinancial corporate
business -3.2 -35.5 10.3
5 Nonfarm noncorporate
business 3.8 4.3 4.4
6 State and local
governments -19.0 52.1 3.4
7 Federal government 4.5 10.2 6.1
8 Rest of the world 205.6 381.1 112.4
9 Financial sectors 1,593.8 1,792.4 1,974.7
10 Monetary authority 27.3 7.9 55.0
11 Commercial banking 369.3 203.8 108.4
12 U.S.-chartered banks 332.8 111.6 63.9
13 Foreign banking offices
in United States 30.9 90.4 40.7
14 Bank holding companies -6.7 -3.2 7.3
15 Banks in
U.S.-affiliated areas 12.3 5.1 -3.6
16 Savings institutions 58.2 40.1 50.5
17 Credit unions 28.5 25.0 39.0
18 Bank personal trusts
and estates 17.6 18.1 10.7
19 Life insurance companies 81.5 73.1 71.9
20 Other insurance companies 6.0 -4.0 16.3
21 Private pension funds 68.9 28.7 35.7
22 State and local
government
retirement funds 1.1 80.6 58.8
23 Money market mutual funds 244.9 297.9 357.7
24 Mutual funds 46.3 74.4 56.4
25 Closed-end funds -8.8 -8.8 -8.8
26 Government-sponsored
enterprises 158.9 302.8 289.9
27 Federally related
mortgage pools 225.3 307.3 197.0
28 Asset-backed securities
issuers (ABSs) 112.8 282.4 257.0
29 Finance companies 81.4 44.3 -16.7
30 Mortgage companies -.5 2.0 1.4
31 Real estate investment
trusts (REITs) -3.6 -2.8 4.0
32 Brokers and dealers 181.4 -61.0 284.1
33 Funding corporations -102.9 80.5 106.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit
markets 1,567.0 1,971.3 1,832.1
Other financial sources
35 Official foreign exchange .7 4.9 -10.5
36 Special drawing rights
certificates -4.0 -4.0 .0
37 Treasury currency 4.2 .0 -1.1
38 Foreign deposits -16.0 192.7 40.0
39 Net interbank transactions -148.6 -17.2 -168.8
40 Checkable deposits and
currency 49.2 -50.2 83.8
41 Small time and savings
deposits 238.5 290.8 287.6
42 Large time deposits 141.5 75.3 125.7
43 Money market fund shares 241.9 402.2 623.0
44 Security repurchase
agreements 238.6 -209.3 -44.4
45 Corporate equities -88.9 -342.0 22.7
46 Mutual fund shares 259.8 171.1 104.7
47 Trade payables 135.1 87.1 88.8
48 Security credit 102.2 57.9 -118.8
49 Life insurance reserves 35.9 65.4 40.5
50 Pension fund reserves 197.4 188.7 273.0
51 Taxes payable -10.7 27.1 24.5
52 Investment in bank
personal trusts -6.6 -5.5 -14.1
53 Noncorporate proprietors'
equity 31.6 -2.6 -5.4
54 Miscellaneous 1,210.2 673.5 590.5
55 Total financial sources 4,178.9 3,577.4 3,773.5
Liabilities not identified
as assets (-)
56 Treasury currency .9 -3.3 -2.5
57 Foreign deposits -75.0 160.0 17.3
58 Net interbank liabilities -18.3 68.6 16.4
59 Security repurchase
agreements 104.9 -286.4 -87.2
60 Taxes payable -20.1 32.3 17.4
61 Miscellaneous -49.2 -189.1 160.3
Floats not included
in assets (-)
62 Federal government
checkable deposits -2.0 11.9 -10.7
63 Other checkable deposits 1.9 2.7 3.3
64 Trade credit -41.0 41.6 -1.9
65 Total identified to
sectors as assets 4,276.9 3,739.1 3,661.2
(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
Transation category 1996 1997 1998
or sector
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 14,443.7 15,246.8 16,258.2(r)
By sector and
instrument
2 Federal government 3,781.8 3,804.9 3,752.2
3 Treasury securities 3,755.1 3,778.3 3,723.7
4 Budget agency
securities and
mortgages 26.6 26.5 28.5
5 Nonfederal 10,662.0 11,441.9 12,505.9(r)
By instrument
6 Commercial paper 156.4 168.6 193.0
7 Municipal securities
and loans 1,296.0 1,367.5 1,464.3
8 Corporate bonds 1,460.4 1,610.9 1.829.6
9 Bank loans n.e.c 934.1 1,040.5 1,148.8
10 Other loans and
advances 770.4 839.5 913.8
11 Mortgages 4,833.1 5,150.8 5,624.8(r)
12 Home 3,719.0 3,971.3 4,351.0(r)
13 Multifamily
residential 278.4 286.6 306.5(r)
14 Commercial 748.6 802.6 870.8(r)
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 6,032.0(r)
18 Nonfinancial business 4,376.1 4,762.5 5,274.2(r)
19 Corporate 3,095.3 3,359.9 3,751.9(r)
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 16,909.6(r)
Financial sectors
29 Total credit market
debt owed by
financial sectors 4,824.5 5,445.2 6,519.1
By instrument
30 Federal government-
related 2,608.2 2,821.1 3,292.0
31 Government-sponsored
enterprise
securities 896.9 995.3 1,273.6
32 Mortgage pool
securities 1,711.3 1,825.8 2,018.4
33 Loans from U.S.
government .0 .0 .0
34 Private 2,216.3 2,624.1 3,227.1
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 .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 23,428.7(r)
54 Open market paper 803.0 979.4 1,172.6
55 U.S. government
securities 6,389.9 6,626.0 7,044.3
56 Municipal securities 1,296.0 1,367.5 1,464.3
57 Corporate and foreign
bonds 3,205.1 3,594.5 4,144.9
58 Bank loans n.e.c 1,041.7 1,169.8 1,314.9
59 Other loans and
advances 998.0 1,101.0 1,259.6
60 Mortgages 4,865.1 5,197.7 5,696.4(r)
61 Consumer credit 1,211.6 1,264.1 1,331.7
1999
Transaction category 1999
or sector
Q3 Q4
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 17,381.6(r) 17,052.5(r) 17,381.6(r)
By sector and
instrument
2 Federal government 3,681.0 3,633.4 3,681.0
3 Treasury securities 3,652.8 3,605.1 3,652.8
4 Budget agency
securities and
mortgages 28.3 28.3 28.3
5 Nonfederal 13,700.6(r) 13,419.1(r) 13,700.6(r)
By instrument
6 Commercial paper 230.3 239.3 230.3
7 Municipal securities
and loans 1,532.5 1,518.6 1,532.5
8 Corporate bonds 2,059.5 2,020.7 2,059.5
9 Bank loans n.e.c 1,231.5 1,202.9 1,231.5
10 Other loans and
advances 974.6(r) 963.1(r) 974.6(r)
11 Mortgages 6,246.1(r) 6,104.5(r) 6,246.1(r)
12 Home 4,777.1(r) 4,681.8(r) 4,777.1(r)
13 Multifamily
residential 346.4(r) 333.6(r) 346.4(r)
14 Commercial 1,020.5(r) 987.6(r) 1,020.5(r)
15 Farm 102.0 101.4 102.0
16 Consumer credit 1,426.2 1,370.1 1,426.2
By borrowing sector
17 Household 6,564.6(r) 6,413.2(r) 6,564.6(r)
18 Nonfinancial business 5,883.9(r) 5,763.5(r) 5,883.9(r)
19 Corporate 4,241.0(r) 4,154.7(r) 4,241.0(r)
20 Nonfarm
noncorporate 1,473.8 1,440.2 1,473.8
21 Farm 169.0 168.6 169.0
22 State and local
government 1,252.1 1,242.4 1,252.1
23 Foreign credit market
debt held in
United States 676.9 672.9 676.9
24 Commercial paper 89.2 81.8 89.2
25 Bonds 476.7 477.4 476.7
26 Bank loans n.e.c 59.4 58.8 59.4
27 Other loans and
advances 51.7 55.0 51.7
28 Total credit market
debt owed by
nonfinancial
sectors, domestic
and foreign 18,058.6(r) 17,725.4(r) 18,058.6(r)
Financial sectors
29 Total credit market
debt owed by
financial sectors 7,596.3(r) 7,340.1(r) 7,596.3(r)
By instrument
30 Federal government-
related 3,884.0 3,745.9 3,884.0
31 Government-sponsored
enterprise
securities 1,591.7 1,499.8 1,591.7
32 Mortgage pool
securities 2,292.2 2,246.1 2,292.2
33 Loans from U.S.
government .0 .0 .0
34 Private 3,712.4(r) 3,594.2(r) 3,712.4(r)
35 Open market paper 1,082.9 963.4 1,082.9
36 Corporate bonds 2,064.0(r) 2,084.3(r) 2,064.0(r)
37 Bank loans n.e.c. 92.9 105.2 92.9
38 Other loans and
advances 395.8 365.4 395.8
39 Mortgages 76.7 75.9 76.7
By borrowing sector
40 Commercial banks 230.0 224.2 230.0
41 Bank holding companies 219.3 211.8 219.3
42 Savings institutions 260.4 255.4 260.4
43 Credit unions 3.4 2.5 3.4
44 Life insurance
companies 3.2 4.3 3.2
45 Government-sponsored
enterprises 1,591.7 1,499.8 1,591.7
46 Federally related
mortgage pools 2,292.2 2,246.1 2,292.2
47 Issuers of asset-backed
securities (ABSs) 1,621.4(r) 1,592.4(r) 1,621.4(r)
48 Brokers and dealers 25.3 34.6 25.3
49 Finance companies 659.9 628.5 659.9
50 Mortgage companies 17.8 16.3 17.8
51 Real estate investment
trusts (REITs) 165.1 162.2 165.1
52 Funding corporations 506.6 462.0 506.6
All sectors
53 Total credit market
debt, domestic
and foreign 25,654.9(r) 25,065.5(r) 25,645.9(r)
54 Open market paper 1,402.4 1,284.5 1,402.4
55 U.S. government
securities 7,565.0 7,379.2 7,565.0
56 Municipal securities 1,532.5 1,518.6 1,532.5
57 Corporate and foreign
bonds 4,600.1(r) 4,582.4(r) 4,600.1(r)
58 Bank loans n.e.c 1,383.8 1,366.9 1,383.8
59 Other loans and
advances 1,422.1(r) 1,383.4(r) 1,422.1(r)
60 Mortgages 6,322.8(r) 6,180.4(r) 6,322.8(r)
61 Consumer credit 1,426.2 1,370.1 1,426.2
2000
Transaction category
or sector
Q1 Q2 Q3
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 17,609.4(r) 17,784.7(r) 17,984.2(r)
By sector and
instrument
2 Federal government 3,653.5 3,464.0 3,410.2
3 Treasury securities 3,625.8 3,435.7 3,382.6
4 Budget agency
securities and
mortgages 27.8 28.2 27.6
5 Nonfederal 13,955.9(r) 14,320.7(r) 14,574.0(r)
By instrument
6 Commercial paper 260.8 296.8 307.0
7 Municipal securities
and loans 1,539.2 1,551.6 1,550.3
8 Corporate bonds 2,106.0 2,144.5 2,190.6
9 Bank loans n.e.c 1,259.1 1,307.2 1,311.6
10 Other loans and
advances 1,020.1(r) 1,049.5(r) 1,052.2(r)
11 Mortgages 6,354.7(r) 6,157.1(r) 6,667.1(r)
12 Home 4,851.1(r) 4,974.1(r) 5,091.8(r)
13 Multifamily
residential 353.6(r) 364.6(r) 371.9(r)
14 Commercial 1,046.1(r) 1,072.2(r) 1,095.5(r)
15 Farm 103.9(r) 106.3(r) 107.8(r)
16 Consumer credit 1,416.0 1,454.0 1,495.3(r)
By borrowing sector
17 Household 6,632.7(r) 6,800.2(r) 6,968.6(r)
18 Nonfinancial business 6,065.9(r) 6,254.8(r) 6,342.3(r)
19 Corporate 4,392.5(r) 4,544.7(r) 4,603.7(r)
20 Nonfarm
noncorporate 1,503.2 1,534.5 1,561.1
21 Farm 170.3(r) 175.7(r) 177.5(r)
22 State and local
government 1,257.3 1,265.7 1,263.1
23 Foreign credit market
debt held in
United States 704.6 699.3 727.8
24 Commercial paper 101.6 101.2 109.8
25 Bonds 488.1 481.3 499.2
26 Bank loans n.e.c 63.3 64.7 67.7
27 Other loans and
advances 51.7 52.1 51.2
28 Total credit market
debt owed by
nonfinancial
sectors, domestic
and foreign 18,314.0(r) 18,484.0(r) 18,712.0(r)
Financial sectors
29 Total credit market
debt owed by
financial sectors 7,725.8(r) 7,946.3(r) 8,140.2(r)
By instrument
30 Federal government-
related 3,940.1 4,035.3(r) 4,164.0(r)
31 Government-sponsored
enterprise
securities 1,618.0 1,680.2 1,749.7
32 Mortgage pool
securities 2,322.1 2,355.2(r) 2,414.3(r)
33 Loans from U.S.
government .0 .0 .0
34 Private 3,785.7(r) 3,911.0(r) 3,976.1(r)
35 Open market paper 1,115.7 1,135.2 1,151.6
36 Corporate bonds 2,095.7(r) 2,165.2(r) 2,219.4(r)
37 Bank loans n.e.c. 91.4 92.7 92.5
38 Other loans and
advances 404.4 436.9 430.2
39 Mortgages 78.5 81.0 82.5
By borrowing sector
40 Commercial banks 242.2 265.4 265.2
41 Bank holding companies 221.4 229.3 236.9
42 Savings institutions 266.9 280.7 276.0
43 Credit unions 2.6 2.9 3.1
44 Life insurance
companies 3.0 2.7 2.7
45 Government-sponsored
enterprises 1,618.0 1,680.2 1,749.7
46 Federally related
mortgage pools 2,322.1 2,355.2(r) 2,414.3(r)
47 Issuers of asset-backed
securities (ABSs) 1,647.3(r) 1,688.5(r) 1,733.8(r)
48 Brokers and dealers 36.4 36.2 42.6
49 Finance companies 670.7 699.2 716.5
50 Mortgage companies 17.1 17.8 17.7
51 Real estate investment
trusts (REITs) 167.9 170.4 169.8
52 Funding corporations 510.1 517.9 511.9
All sectors
53 Total credit market
debt, domestic
and foreign 26,039.8(r) 26,430.3(r) 26,852.2(r)
54 Open market paper 1,478.1 1,533.3 1,568.3
55 U.S. government
securities 7,593.6 7,499.3(r) 7,574.2(r)
56 Municipal securities 1,539.2 1,551.6 1,550.3
57 Corporate and foreign
bonds 4,689.8(r) 4,791.0(r) 4,909.2(r)
58 Bank loans n.e.c 1,413.7 1,464.6 1,471.7
59 Other loans and
advances 1,476.2(r) 1,538.5(r) 1,533.6(r)
60 Mortgages 6,433.2(r) 6,598.1(r) 6,749.5(r)
61 Consumer credit 1,416.0 1,454.0 1,495.3(r)
2000 2001
Transaction category
or sector
Q4 Q1
Nonfinancial sectors
1 Total credit market
debt owed by
domestic
nonfinancial
sectors 18,263.4 18,506.5
By sector and
instrument
2 Federal government 3,385.2 3,408.8
3 Treasury securities 3,357.8 3,382.1
4 Budget agency
securities and
mortgages 27.3 26.8
5 Nonfederal 14,878.2 15,097.6
By instrument
6 Commercial paper 278.4 253.2
7 Municipal securities
and loans 1,567.8 1,596.6
8 Corporate bonds 2,234.5 2,334.5
9 Bank loans n.e.c 1,334.8 1,326.2
10 Other loans and
advances 1,090.0 1,094.6
11 Mortgages 6,806.3 6,934.7
12 Home 5,192.4 5,283.9
13 Multifamily
residential 382.0 392.2
14 Commercial 1,123.1 1,148.5
15 Farm 108.8 110.0
16 Consumer credit 1,566.5 1,558.0
By borrowing sector
17 Household 7,149.9 7,227.6
18 Nonfinancial business 6,449.1 6,563.5
19 Corporate 4,678.3 4,771.4
20 Nonfarm
noncorporate 1,590.6 1,612.3
21 Farm 180.2 179.8
22 State and local
government 1,279.3 1,306.5
23 Foreign credit market
debt held in
United States 743.4 736.6
24 Commercial paper 120.9 112.8
25 Bonds 501.5 501.2
26 Bank loans n.e.c 70.7 73.3
27 Other loans and
advances 50.3 49.4
28 Total credit market
debt owed by
nonfinancial
sectors, domestic
and foreign 19,006.8 19,243.1
Financial sectors
29 Total credit market
debt owed by
financial sectors 8,410.0 8,616.4
By instrument
30 Federal government-
related 4,317.6 4,426.1
31 Government-sponsored
enterprise
securities 1,825.9 1,891.9
32 Mortgage pool
securities 2,491.7 2,534.2
33 Loans from U.S.
government .0 .0
34 Private 4,092.5 4,190.2
35 Open market paper 1,210.7 1,180.8
36 Corporate bonds 2,267.9 2,380.6
37 Bank loans n.e.c. 92.6 96.8
38 Other loans and
advances 438.3 450.9
39 Mortgages 82.9 81.1
By borrowing sector
40 Commercial banks 266.7 273.9
41 Bank holding companies 242.5 266.0
42 Savings institutions 287.7 294.8
43 Credit unions 3.4 3.3
44 Life insurance
companies 2.5 1.9
45 Government-sponsored
enterprises 1,825.9 1,891.9
46 Federally related
mortgage pools 2,491.7 2,534.2
47 Issuers of asset-backed
securities (ABSs) 1,821.1 1,882.4
48 Brokers and dealers 40.9 35.0
49 Finance companies 734.6 721.4
50 Mortgage companies 17.9 18.1
51 Real estate investment
trusts (REITs) 167.8 166.2
52 Funding corporations 507.3 527.2
All sectors
53 Total credit market
debt, domestic
and foreign 27,416.8 27,859.5
54 Open market paper 1,610.0 1,546.8
55 U.S. government
securities 7,702.7 7,834.9
56 Municipal securities 1,567.8 1,596.6
57 Corporate and foreign
bonds 5,003.9 5,216.2
58 Bank loans n.e.c 1,498.1 1,496.3
59 Other loans and
advances 1,578.6 1,594.9
60 Mortgages 6,889.2 7,015.7
61 Consumer credit 1,566.5 1,558.0
(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 1996 1997 1998
or sector
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 19,810.4 21,300.0 23,428.7(r)
2 Domestic nonfederal
nonfinancial
sectors 3,035.0(r) 2,974.0(r) 3,052.0(r)
3 Household 2,122.0(r) 2,075.7(r) 2,035.1(r)
4 Nonfinancial
corporate
business 270.2 257.5 241.5(r)
5 Nonfarm noncorporate
business 38.0 35.9 35.9
6 State and local
governments 604.8 605.0 739.4
7 Federal government 200.2 205.4 219.1
8 Rest of the world 1,926.6 2,257.3 2,539.8
9 Financial sectors 14,648.6(r) 15,863.2(r) 17,617.7(r)
10 Monetary authority 393.1 431.4 452.5
11 Commercial banking 3,707.7 4,031.9 4,335.7
12 U.S.-chartered
banks 3,175.8 3,450.7 3,761.2
13 Foreign banking
offices in
United States 475.8 516.1 504.2
14 Bank holding
companies 22.0 27.4 26.5
15 Banks in U.S.-
affiliated areas 34.1 37.8 43.8
16 Savings institutions 933.2 928.5 964.6(r)
17 Credit unions 288.5 305.3 324.2
18 Bank personal trusts
and estates 232.0 207.0 194.1
19 Life insurance
companies 1,657.0 1,751.1 1,828.0
20 Other insurance
companies 491.2 515.3 535.7
21 Private pension funds 627.0 674.6 731.0
22 State and local
government
retirement funds 565.4(r) 632.5(r) 704.6(r)
23 Money market mutual
funds 634.3 721.9 965.9
24 Mutual funds 820.2 901.1 1,025.9
25 Closed-end funds 101.1 98.5(r) 104.0(r)
26 Government-sponsored
enterprises 807.9 902.2 1,163.9
27 Federally related
mortgage pools 1,711.3 1,825.8 2,018.4
28 Asset-backed
securities
issuers (ABSs) 773.9 937.7 1,219.4
29 Finance companies 544.5 566.4 618.4
30 Mortgage companies 41.2 32.1 35.3
31 Real estate investment
trusts (REITs) 30.4 50.6 45.5
32 Brokers and dealers 167.7 182.6 189.4
33 Funding corporations 121.0 166.7 161.3(r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 19,810.4 21,300.0 23,428.7(r)
Other liabilities
35 Official foreign
exchange 53.7 48.9 60.1
36 Special drawing rights
certificates 9.7 9.2 9.2
37 Treasury currency 18.9 19.3 19.9
38 Foreign deposits 521.7 619.7 639.0
39 Net interbank
liabilities 240.8 219.4 189.0
40 Checkable deposits and
currency 1,244.8 1,286.1 1,333.4
41 Small time and savings
deposits 2,377.0 2,474.1 2,626.5
42 Large time deposits 590.9 713.4 805.5
43 Money market fund
shares 886.7 1,042.5 1,329.7
44 Security repurchase
agreements 701.5 822.4 913.7
45 Mutual fund shares 2,342.4 2,989.4 3,610.5
46 Security credit 358.1 469.1 572.3
47 Life insurance
reserves 610.6 665.0 718.3
48 Pension fund reserves 6,325.1(r) 7,323.4(r) 8,193.7(r)
49 Trade payables 1,809.3 1,941.4 2,037.4(r)
50 Taxes payable 123.8 139.5 151.5
51 Investment in bank
personal trusts 871.3 942.5 1,001.0
52 Miscellaneous 6,349.1 6,670.6 7,332.7(r)
53 Total liabilities 45,245.6(r) 49,695.6(r) 54,972.1(r)
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.1 21.6
55 Corporate equities 10,255.8 13,201.3 15,492.5(r)
56 Household equity in
noncorporate
business 3,889.2 4,162.6(r) 4,428.4(r)
Liabilities not
identified as
assets (-)
57 Treasury currency -6.1 -6.3 -6.4
58 Foreign deposits 437.0 538.3 541.6(r)
59 Net interbank
transactions -10.6 -32.2 -27.0
60 Security repurchase
agreements 109.8 172.9 233.4(r)
61 Taxes payable 76.9 92.6 102.0
62 Miscellaneous -1,448.9(r) -1,785.7(r) -2,468.4(r)
Floats not included
in assets (-)
63 Federal government
checkable
deposits -1.6 -8.1 -3.9
64 Other checkable
deposits 30.1 26.2 23.1
65 Trade credit 171.8 133.5 90.0(r)
66 Total identified to
sectors as
assets 60,053.7(r) 67,949.4(r) 76,430.1(r)
1999
Transaction category 1999
or sector
Q3 Q4
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 25,654.9(r) 25,065.5(r) 25,654.9(r)
2 Domestic nonfederal
nonfinancial
sectors 3,353.6(r) 3,239.7(r) 3,353.6(r)
3 Household 2,294.6(r) 2,185.6(r) 2,294.6(r)
4 Nonfinancial
corporate
business 238.7(r) 235.1(r) 238.7(r)
5 Nonfarm noncorporate
business 37.5 37.1 37.5
6 State and local
governments 782.8 781.9 782.8
7 Federal government 258.0 260.7 258.0
8 Rest of the world 2,678.0 2,718.1 2,678.0
9 Financial sectors 19,365.3(r) 18,846.9(r) 19,365.3(r)
10 Monetary authority 478.1 489.3 478.1
11 Commercial banking 4,643.9 4,488.3 4,643.9
12 U.S.-chartered
banks 4,078.9 3,944.3 4,078.9
13 Foreign banking
offices in
United States 484.1 475.3 484.1
14 Bank holding
companies 32.7 22.0 32.7
15 Banks in U.S.-
affiliated areas 48.3 46.7 48.3
16 Savings institutions 1,033.2(r) 1,030.5(r) 1,033.2(r)
17 Credit unions 351.7 348.5 351.7
18 Bank personal trusts
and estates 222.0 215.0 222.0
19 Life insurance
companies 1,886.0 1,880.4 1,886.0
20 Other insurance
companies 531.6 533.9 531.6
21 Private pension funds 775.9 763.5 775.9
22 State and local
government
retirement funds 751.4(r) 739.9(r) 751.4(r)
23 Money market mutual
funds 1,147.8 1,049.7 1,147.8
24 Mutual funds 1,073.1 1,083.0 1,073.1
25 Closed-end funds 110.9(r) 109.2(r) 110.9(r)
26 Government-sponsored
enterprises 1,399.5 1,339.1 1,399.5
27 Federally related
mortgage pools 2,292.2 2,246.1 2,292.2
28 Asset-backed
securities
issuers (ABSs) 1,424.6(r) 1,403.1(r) 1,424.6(r)
29 Finance companies 713.3 678.2 713.3
30 Mortgage companies 35.6 32.5 35.6
31 Real estate investment
trusts (REITs) 42.9 44.7 42.9
32 Brokers and dealers 154.7 166.8 154.7
33 Funding corporations 296.8(r) 205.3(r) 296.8(r)
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 25,654.9(r) 25,065.5(r) 25,654.9(r)
Other liabilities
35 Official foreign
exchange 50.1 52.1 50.1
36 Special drawing rights
certificates 6.2 7.2 6.2
37 Treasury currency 20.9 20.9 20.9
38 Foreign deposits 725.8 712.3 725.8
39 Net interbank
liabilities 204.5 199.6 204.5
40 Checkable deposits and
currency 1,484.8 1,353.8 1,484.8
41 Small time and savings
deposits 2,671.2 2,665.9 2,671.2
42 Large time deposits 936.1 837.5 936.1
43 Money market fund
shares 1,578.8 1,444.9 1,578.8
44 Security repurchase
agreements 1,083.4 999.4 1,083.4
45 Mutual fund shares 4,553.4 3,931.5 4,553.4
46 Security credit 676.6 593.1 676.6
47 Life insurance
reserves 783.9 756.2 783.9
48 Pension fund reserves 9,041.7(r) 8,363.7(r) 9,041.7(r)
49 Trade payables 2,244.6(r) 2,169.9(r) 2,244.6(r)
50 Taxes payable 167.6(r) 167.5 167.6(r)
51 Investment in bank
personal trusts 1,130.4 1,019.0 1,130.4
52 Miscellaneous 7,788.5(r) 7,465.5(r) 7,788.5(r)
53 Total liabilities 60,803.4(r) 57,825.5(r) 60,803.4(r)
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.3 21.4
55 Corporate equities 19,494.5(r) 16,106.8(r) 19,494.5(r)
56 Household equity in
noncorporate
business 4,736.4(r) 4,647.8(r) 4,736.4(r)
Liabilities not
identified as
assets (-)
57 Treasury currency -7.1 -6.6 -7.1
58 Foreign deposits 613.3(r) 584.3(r) 613.3(r)
59 Net interbank
transactions -25.5 -13.2 -25.5
60 Security repurchase
agreements 263.3(r) 323.7(r) 263.3(r)
61 Taxes payable 95.6(r) 96.5 95.6(r)
62 Miscellaneous -3,079.3(r) -3,143.7(r) -3,079.3(r)
Floats not included
in assets (-)
63 Federal government
checkable
deposits -9.9 -10.2 -9.9
64 Other checkable
deposits 22.3 14.5 22.3
65 Trade credit 148.9(r) 29.3(r) 148.9(r)
66 Total identified to
sectors as
assets 87,034.2(r) 80,726.8(r) 87,034.2(r)
2000
Transaction category
or sector
Q1 Q2 Q3
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 26,039.8(r) 26,430.3(r) 26,852.2
2 Domestic nonfederal
nonfinancial
sectors 3,285.6(r) 3,289.4(r) 3,236.4
3 Household 2,232.4(r) 2,217.2(r) 2,167.2
4 Nonfinancial
corporate
business 232.1(r) 237.6(r) 240.7
5 Nonfarm noncorporate
business 38.1 38.8 39.8
6 State and local
governments 782.9 795.8 788.7
7 Federal government 259.6 261.6 262.7
8 Rest of the world 2,763.6 2,812.8 2,864.7
9 Financial sectors 19,731.0(r) 20,066.5(r) 20,488.4
10 Monetary authority 501.9 505.1 511.5
11 Commercial banking 4,725.0 4,847.4 4,931.0
12 U.S.-chartered
banks 4,171.3 4,295.4 4,368.2
13 Foreign banking
offices in
United States 482.0 478.1 487.5
14 Bank holding
companies 22.1 23.0 21.3
15 Banks in U.S.-
affiliated areas 49.6 51.0 54.0
16 Savings institutions 1,045.8(r) 1,062.5(r) 1,082.2
17 Credit unions 359.0 370.8 378.6
18 Bank personal trusts
and estates 226.7 230.2 234.6
19 Life insurance
companies 1,900.1(r) 1,911.6(r) 1,933.7
20 Other insurance
companies 528.0 523.5 525.0
21 Private pension funds 787.6 793.8 811.0
22 State and local
government
retirement funds 767.2 775.1(r) 775.4
23 Money market mutual
funds 1,217.1 1,159.4 1,212.5
24 Mutual funds 1,053.7 1,073.9 1,088.1
25 Closed-end funds 108.7(r) 106.5(r) 104.4
26 Government-sponsored
enterprises 1,426.4(r) 1,483.5(r) 1,532.5
27 Federally related
mortgage pools 2,322.1 2,355.2(r) 2,414.3
28 Asset-backed
securities
issuers (ABSs) 1,445.4(r) 1,477.9(r) 1,514.5
29 Finance companies 747.0 780.6 795.5
30 Mortgage companies 34.1 35.5 35.4
31 Real estate investment
trusts (REITs) 38.8 38.2 37.3
32 Brokers and dealers 194.6(r) 187.9(r) 243.3
33 Funding corporations 301.8(r) 348.0(r) 327.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 26,039.8(r) 26,430.3(r) 26,852.2
Other liabilities
35 Official foreign
exchange 49.4 46.5 44.9
36 Special drawing rights
certificates 6.2 4.2 3.2
37 Treasury currency 21.4 22.1 23.2
38 Foreign deposits 790.4 792.6 788.6
39 Net interbank
liabilities 169.7(r) 210.6(r) 173.2
40 Checkable deposits and
currency 1,392.9 1,409.7 1,385.7
41 Small time and savings
deposits 2,728.0 2,738.8 2,790.9
42 Large time deposits 966.5 987.4 1,025.9
43 Money market fund
shares 1,666.0 1,627.1 1,697.8
44 Security repurchase
agreements 1,149.2(r) 1,185.0(r) 1,238.7
45 Mutual fund shares 4,863.3 4,759.6 4,815.0
46 Security credit 795.4(r) 775.5(r) 800.4
47 Life insurance
reserves 801.0(r) 806.5(r) 815.5
48 Pension fund reserves 9,237.9(r) 9,166.7(r) 9,308.4
49 Trade payables 2,271.1(r) 2,302.3(r) 2,342.9
50 Taxes payable 181.0(r) 180.0 182.9
51 Investment in bank
personal trusts 1,163.0 1,124.1 1,122.3
52 Miscellaneous 7,981.8(r) 8,254.0(r) 8,701.5
53 Total liabilities 62,274.0(r) 62,823.2(r) 64,113.0
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.4 21.5 21.4
55 Corporate equities 20,147.2(r) 19,179.6(r) 18,990.4
56 Household equity in
noncorporate
business 4,763.1(r) 4,809.4(r) 4,865.0
Liabilities not
identified as
assets (-)
57 Treasury currency -7.6 -7.9 -7.6
58 Foreign deposits 666.1(r) 646.9(r) 628.1
59 Net interbank
transactions -13.9 -11.6 -17.6
60 Security repurchase
agreements 410.1(r) 422.6(r) 447.7
61 Taxes payable 89.6(r) 103.0 92.5
62 Miscellaneous -3,250.3(r) -3,319.2(r) -3,099.3
Floats not included
in assets (-)
63 Federal government
checkable
deposits -6.5 -5.2 -7.8
64 Other checkable
deposits 18.7 22.5 15.5
65 Trade credit 89.2(r) 54.3(r) 43.4
66 Total identified to
sectors as
assets 89,210.1(r) 88,928.3(r) 89,894.8
2000 2001
Transaction category
or sector
Q4 Q1
CREDIT MARKET DEBT
OUTSTANDING(2)
1 Total credit market
assets 27,416.8 27,859.5
2 Domestic nonfederal
nonfinancial
sectors 3,246.4 3,146.6
3 Household 2,152.9 2,075.2
4 Nonfinancial
corporate
business 250.6 226.9
5 Nonfarm noncorporate
business 40.8 41.9
6 State and local
governments 802.0 802.5
7 Federal government 265.2 268.3
8 Rest of the world 2,957.9 2,990.0
9 Financial sectors 20,947.3 21,454.6
10 Monetary authority 511.8 523.9
11 Commercial banking 5,002.6 5,016.7
12 U.S.-chartered
banks 4,418.7 4,425.1
13 Foreign banking
offices in
United States 508.1 514.9
14 Bank holding
companies 20.5 22.3
15 Banks in U.S.-
affiliated areas 55.3 54.4
16 Savings institutions 1,089.7 1,101.0
17 Credit unions 383.1 391.3
18 Bank personal trusts
and estates 239.1 241.8
19 Life insurance
companies 1,950.2 1,969.2
20 Other insurance
companies 524.0 528.1
21 Private pension funds 818.2 827.1
22 State and local
government
retirement funds 795.5 810.2
23 Money market mutual
funds 1,296.7 1,403.8
24 Mutual funds 1,099.7 1,113.5
25 Closed-end funds 102.2 100.0
26 Government-sponsored
enterprises 1,612.1 1,677.3
27 Federally related
mortgage pools 2,491.7 2,534.2
28 Asset-backed
securities
issuers (ABSs) 1,594.5 1,650.9
29 Finance companies 812.6 809.3
30 Mortgage companies 35.9 36.2
31 Real estate investment
trusts (REITs) 36.6 37.6
32 Brokers and dealers 223.6 312.3
33 Funding corporations 327.5 370.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market
debt 27,416.8 27,859.5
Other liabilities
35 Official foreign
exchange 45.3 42.2
36 Special drawing rights
certificates 2.2 2.2
37 Treasury currency 23.2 22.9
38 Foreign deposits 836.7 846.7
39 Net interbank
liabilities 188.2 121.8
40 Checkable deposits and
currency 1,413.5 1,384.1
41 Small time and savings
deposits 2,862.2 2,965.4
42 Large time deposits 1,054.7 1,078.3
43 Money market fund
shares 1,812.1 1,994.7
44 Security repurchase
agreements 1,194.3 1,197.5
45 Mutual fund shares 4,456.3 4,030.6
46 Security credit 817.6 784.5
47 Life insurance
reserves 819.4 817.0
48 Pension fund reserves 9,054.1 8,590.3
49 Trade payables 2,383.8 2,379.5
50 Taxes payable 184.8 198.6
51 Investment in bank
personal trusts 1,039.0 949.2
52 Miscellaneous 8,905.8 8,963.0
53 Total liabilities 64,510.0 64,228.1
Financial assets not
included in
liabilities (+)
54 Gold and special
drawing rights 21.6 21.4
55 Corporate equities 17,026.1 14,878.4
56 Household equity in
noncorporate
business 4,944.9 5,056.0
Liabilities not
identified as
assets (-)
57 Treasury currency -8.5 -9.1
58 Foreign deposits 668.1 682.1
59 Net interbank
transactions -4.1 1.3
60 Security repurchase
agreements 372.2 370.8
61 Taxes payable 96.9 87.2
62 Miscellaneous -3,282.3 -3,530.1
Floats not included
in assets (-)
63 Federal government
checkable
deposits -3.0 -22.3
64 Other checkable
deposits 24.0 21.1
65 Trade credit 128.1 76.3
66 Total identified to
sectors as
assets 88,511.2 86,506.7
(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
2000
Measure 1998 1999 2000
Aug. Sept.
1 Industrial
production(1) 134.0 139.6 147.5 148.6 149.0
Market groups
2 Products, total 127.2 131.2 136.2 136.6 136.7
3 Final, total 129.3 133.3 138.8 139.2 139.3
4 Consumer goods 118.4 120.8 123.0 123.8 123.8
5 Equipment 147.1 153.8 166.1 167.9 168.3
6 Intermediate 121.0 125.1 128.7 128.8 128.6
7 Materials 145.7 154.5 167.8 170.5 171.3
Industry groups
8 Manufacturing 138.2 144.8 153.6 154.6 155.1
9 Capacity
utilization,
manufacturing
(percent)(2) 81.3 80.5 81.3 81.7 81.7
10 Construction
contracts(3) 122.6(r) 135.0(r) 142.3(r) 138.0 143.0
11 Nonagricultural
employment,
total(4) 123.5 126.3 128.9 129.0 129.2
12 Goods-producing,
total 103.0 103.3 104.0 103.9 103.9
13 Manufacturing,
total 99.0 97.6 97.0 97.0 96.7
14 Manufacturing,
production
workers 100.0 98.4 97.6 97.5 97.2
15 Service-producing 130.0 133.7 136.8 137.0 137.3
16 Personal income,
total 186.5 196.6 209.0 210.1 212.5
17 Wages and salary
disbursements 184.6 196.9 210.1 211.3 212.7
18 Manufacturing 152.3 157.4 164.2 164.9 165.1
19 Disposable
personal
income(5) 182.7 191.9 202.0 202.9 205.2
20 Retail sales(5) 178.4 194.7 210.0 211.0 212.7
Prices(6)
21 Consumer
(1982-84=100) 163.0 166.6 172.2 172.8 173.7
22 Producer finished
goods
(1982=100) 130.7 133.0 138.0 138.2 139.4
2000 2001
Measure
Oct. Nov. Dec. Jan. Feb.
1 Industrial
production(1) 148.7 148.2 147.3 146.0(r) 145.5(r)
Market groups
2 Products, total 136.3 136.3 136.0 135.0(r) 134.7(r)
3 Final, total 138.8 138.8 139.0 137.8(r) 137.7
4 Consumer goods 122.7 122.4 123.1 121.8(r) 122.3(r)
5 Equipment 169.1 169.9 168.9 168.0(r) 166.4(r)
6 Intermediate 128.7 128.5 126.8 126.7(r) 126.0(r)
7 Materials 171.1 169.9 167.8 165.9(r) 164.8(r)
Industry groups
8 Manufacturing 154.9 154.1 152.6 151.3(r) 150.7(r)
9 Capacity
utilization,
manufacturing
(percent)(2) 81.2 80.5 79.3 78.4(r) 77.9(r)
10 Construction
contracts(3) 151.0(r) 143.0 143.0 152.0(r) 147.0
11 Nonagricultural
employment,
total(4) 129.3 129.3 129.4 129.6 129.8
12 Goods-producing,
total 104.0 103.9 103.6 103.9 103.6
13 Manufacturing,
total 96.7 96.6 96.4 95.9 95.4
14 Manufacturing,
production
workers 97.1 97.0 96.6 96.1 95.5
15 Service-producing 137.3 137.4 137.6 137.8 138.1
16 Personal income,
total 212.1 212.5 213.5 214.8 215.8
17 Wages and salary
disbursements 214.0 214.6 215.2 216.8 218.1
18 Manufacturing 166.6 166.9 165.5 165.8 165.5
19 Disposable
personal
income(5) 204.4 204.6 205.5 206.5 207.5
20 Retail sales(5) 212.5 211.3 211.6 214.4 213.9(r)
Prices(6)
21 Consumer
(1982-84=100) 174.0 174.1 174.0 175.1 175.8
22 Producer finished
goods
(1982=100) 140.1 140.0 139.7 141.2 141.5
2001
Measure
Mar. Apr.(p)
1 Industrial
production(1) 145.3 144.9
Market groups
2 Products, total 134.8 134.3
3 Final, total 138.1 137.6
4 Consumer goods 122.4 122.2
5 Equipment 167.4 166.2
6 Intermediate 125.0 124.5
7 Materials 164.3 163.9
Industry groups
8 Manufacturing 150.3 149.8
9 Capacity
utilization,
manufacturing
(percent)(2) 77.5 77.1
10 Construction
contracts(3) 139.0 144.0
11 Nonagricultural
employment,
total(4) 129.7 129.5
12 Goods-producing,
total 103.4 102.7
13 Manufacturing,
total 95.0 94.4
14 Manufacturing,
production
workers 95.0 94.4
15 Service-producing 138.1 138.1
16 Personal income,
total 216.8 n.a.
17 Wages and salary
disbursements 219.1 n.a.
18 Manufacturing 165.6 n.a.
19 Disposable
personal
income(5) 208.5 n.a.
20 Retail sales(5) 213.2 214.9
Prices(6)
21 Consumer
(1982-84=100) 176.2 176.9
22 Producer finished
goods
(1982=100) 141.0 141.7
(1.) Data in this table appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site, http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in December 2000. The recent annual
revision is described in an article in the March 2001 issue of the
Bulletin. For a description of the methods of estimating industrial
production and capacity utilization, see "Industrial Production and
Capacity Utilization: Historical Revision and Recent Developments,"
Federal Reserve Bulletin, vol. 83 (February 1997), pp. 67-92, and
the references cited therein. For details about the construction of
individual industrial production series, see "Industrial Production:
1989 Developments and Historical Revision," Federal Reserve Bulletin,
vol. 76 (April 1990), pp. 187-204.
(2.) Ratio of index of production to index of capacity. Based on data
from the Federal Reserve, U.S. Department of Commerce, and other
sources.
(3.) Index of dollar value of total construction contracts, including
residential, nonresidential, and heavy engineering, from McGraw-Hill
Information Systems Company, F.W. Dodge Division.
(4.) Based on data from the U.S. Department of Labor, Employment and
Earnings. Series covers employees only, excluding personnel in the
armed forces.
(5.) Based on data from U.S. Department of Commerce, Survey of Current
Business.
(6.) Based on data not seasonally adjusted. Seasonally adjusted data
for changes in the price indexes can be obtained from the U.S.
Department of Labor, Bureau of Labor Statistics, Monthly Labor Review.
NOTE. Basic data (not indexes) for series mentioned in notes 4 and 5,
and indexes for series mentioned in notes 3 and 6, can also be found
in the Survey of Current Business.
2.11 LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT
Thousands of persons; monthly data seasonally adjusted
2000
Category 1998 1999 2000
Sept.
HOUSEHOLD SURVEY DATA(1)
1 Civilian labor force(2) 137,673 139,368 140,863 140,847
Employment
2 Nonagricultural
industries(3) 128,085 130,207 131,903 131,954
3 Agriculture 3,378 3,281 3,305 3,356
Unemployment
4 Number 6,210 5,880 5,655 5,537
5 Rate (percent of civilian
labor force) 4.5 4.2 4.0 3.9
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment(4) 125,865 128,786 131,417 131,723
7 Manufacturing 18,805 18,543 18,437 18,380
8 Mining 590 535 538 539
9 Contract construction 6,020 6,404 6,687 6,720
10 Transportation and public
utilities 6,611 6,826 6,993 7,037
11 Trade 29,095 29,712 30,191 30,249
12 Finance 7,389 7,569 7,618 7,622
13 Service 37,533 39,027 40,384 40,685
14 Government 19,823 20,170 20,570 20,491
2000 2001
Category
Oct. Nov. Dec. Jan.
HOUSEHOLD SURVEY DATA(1)
1 Civilian labor force(2) 141,000 141,136 141,489 141,955
Employment
2 Nonagricultural
industries(3) 132,223 132,302 132,562 132,819
3 Agriculture 3,241 3,176 3,274 3,179
Unemployment
4 Number 5,536 5,658 5,653 5,956
5 Rate (percent of civilian
labor force) 3.9 4.0 4.0 4.2
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment(4) 131,789 131,842 131,878 132,167
7 Manufacturing 18,378 18,360 18,312 18,220
8 Mining 542 541 540 547
9 Contract construction 6,745 6,734 6,717 6,874
10 Transportation and public
utilities 7,046 7,060 7,086 7,077
11 Trade 30,280 30,331 30,330 30,346
12 Finance 7,638 7,647 7,661 7,676
13 Service 40,696 40,764 40,797 40,917
14 Government 20,464 20,405 20,435 20,510
2001
Category
Feb.(r) Mar.(r) Apr.
HOUSEHOLD SURVEY DATA(1)
1 Civilian labor force(2) 141,751 141,868 141,757
Employment
2 Nonagricultural
industries(3) 132,680 132,618 132,162
3 Agriculture 3,135 3,161 3,192
Unemployment
4 Number 5,936 6,088 6,402
5 Rate (percent of civilian
labor force) 4.2 4.3 4.5
ESTABLISHMENT SURVEY DATA
6 Nonagricultural payroll
employment(4) 132,303 132,250 132,027
7 Manufacturing 18,124 18,043 17,939
8 Mining 551 553 557
9 Contract construction 6,888 6,904 6,840
10 Transportation and public
utilities 7,096 7,098 7,096
11 Trade 30,427 30,379 30,397
12 Finance 7,690 7,708 7,716
13 Service 40,938 40,965 40,844
14 Government 20,589 20,600 20,638
(1.) Beginning January 1994, reflects redesign of current population
survey and population controls from the 1990 census.
(2.) Persons sixteen years of age and older, including Resident Armed
Forces. Monthly figures are based on sample data collected during the
calendar week that contains the twelfth day; annual data are averages
of monthly figures. By definition, seasonality does not exist in
population figures.
(3.) Includes self-employed, unpaid family, and domestic service
workers.
(4.) Includes all full- and part-time employees who worked during, or
received pay for, the pay period that includes the twelfth day of the
month; excludes proprietors, self-employed persons, household and
unpaid family workers, and members of the armed forces. Data are
adjusted to the March 1992 benchmark, and only seasonally adjusted
data are available at this time.
SOURCE. Based on data from U.S. Department of Labor, Employment and
Earnings.
2.12 OUTPUT, CAPACITY, AND CAPACITY UTILIZATION(1)
Seasonally adjusted
2000 2001
Series Q2 Q3 Q4 Q1(r)
Output (1992=100)
1 Total industry 147.1 148.4 148.1 145.6
2 Manufacturing 153.0 154.4 153.8 150.8
3 Primary processing(3) 178.6 180.3 178.7 172.6
4 Advanced processing(4) 139.0 140.3 140.2 138.6
5 Durable goods 192.9 196.7 196.5 191.8
6 Lumber and products 120.3 117.0 113.2 109.2
7 Primary metals 137.0 133.4 127.5 122.1
8 Iron and steel 136.1 130.5 121.5 115.1
9 Nonferrous 138.2 137.0 134.7 130.4
10 Industrial machinery
and equipment 249.4 257.3 261.9 256.6
11 Electrical machinery 535.1 581.1 604.0 597.6
12 Motor vehicles and
parts 176.9 170.8 159.7 146.6
13 Aerospace and miscel-
laneous transpor-
tation equipment 92.9 93.5 94.8 93.7
14 Nondurable goods 116.7 116.2 115.3 113.6
15 Textile mill products 103.3 99.8 94.7 93.0
16 Paper and products 117.9 114.0 114.9 110.5
17 Chemicals and products 125.8 125.4 124.5 122.0
18 Plastics materials 140.9 137.6 131.0 131.2
19 Petroleum products 118.3 117.3 116.0 115.9
20 Mining 100.0 100.6 100.3 101.6
21 Utilities 120.7 121.0 123.7 123.6
22 Electric 124.3 123.9 127.5 125.4
2000 2001
Series Q2 Q3 Q4 Q1(r)
Capacity (percent of 1992 output)
1 Total industry 178.1 180.1 182.1 183.7
2 Manufacturing 186.9 189.2 191.5 193.5
3 Primary processing(3) 206.9 211.2 216.0 220.0
4 Advanced processing(4) 174.1 175.2 176.2 177.2
5 Durable goods 233.3 238.3 243.6 248.1
6 Lumber and products 147.5 147.9 148.4 148.7
7 Primary metals 153.3 153.4 153.5 153.5
8 Iron and steel 153.1 153.4 153.6 153.6
9 Nonferrous 153.4 153.4 153.4 153.5
10 Industrial machinery
and equipment 304.5 311.1 317.3 322.5
11 Electrical machinery 591.7 639.1 694.1 741.7
12 Motor vehicles and
parts 208.2 209.2 210.1 210.9
13 Aerospace and miscel-
laneous transpor-
tation equipment 130.7 130.4 130.2 130.0
14 Nondurable goods 144.1 144.4 144.6 144.7
15 Textile mill products 123.9 123.3 122.8 122.0
16 Paper and products 137.2 137.5 137.9 138.3
17 Chemicals and products 163.0 164.1 164.8 165.0
18 Plastics materials 151.6 151.9 152.3 152.7
19 Petroleum products 123.2 123.2 123.1 123.1
20 Mining 116.5 116.3 115.8 115.3
21 Utilities 132.3 133.4 134.5 135.7
22 Electric 130.9 132.3 133.8 135.3
2000 2001 1973
Series Q2 Q3 Q4 Q1(r) High
Capacity utilization rate (percent)(2)
1 Total industry 82.6 82.4 81.3 79.3 89.2
2 Manufacturing 81.9 81.7 80.3 77.9 88.5
3 Primary processing(3) 86.4 85.4 82.7 78.5 91.2
4 Advanced processing(4) 79.8 80.1 79.5 78.3 87.2
5 Durable goods 82.7 82.5 80.7 77.3 89.2
6 Lumber and products 81.6 79.1 76.3 73.4 88.7
7 Primary metals 89.4 87.0 83.1 79.5 100.2
8 Iron and steel 88.9 85.1 79.1 74.9 105.8
9 Nonferrous 90.1 89.3 87.8 84.9 90.8
10 Industrial machinery
and equipment 81.9 82.7 82.5 79.6 96.0
11 Electrical machinery 90.4 90.9 87.1 80.6 89.2
12 Motor vehicles and
parts 84.5 81.7 76.0 69.5 93.4
13 Aerospace and miscel-
laneous transpor-
tation equipment 71.1 71.7 72.8 72.0 78.4
14 Nondurable goods 80.9 80.5 79.7 78.5 87.8
15 Textile mill products 83.4 80.9 77.1 76.3 91.4
16 Paper and products 85.9 82.9 83.3 79.9 97.1
17 Chemicals and products 77.2 76.4 75.5 73.9 87.6
18 Plastics materials 93.0 90.5 86.0 85.9 102.0
19 Petroleum products 96.0 95.3 94.3 94.2 96.7
20 Mining 85.8 86.6 86.6 88.1 94.3
21 Utilities 91.2 90.7 92.0 91.1 96.2
22 Electric 94.9 93.7 95.3 92.7 99.0
1975 Previous Latest cycle(6)
cycle(5)
Series Low High Low High Low
Capacity utilization rate (percent)(2)
1 Total industry 72.6 87.3 71.1 85.4 78.1
2 Manufacturing 70.5 86.9 69.0 85.7 76.6
3 Primary processing(3) 68.2 88.1 66.2 88.9 77.7
4 Advanced processing(4) 71.8 86.7 70.4 84.2 76.1
5 Durable goods 68.9 87.7 63.9 84.6 73.1
6 Lumber and products 61.2 87.9 60.8 93.6 75.5
7 Primary metals 65.9 94.2 45.1 92.7 73.7
8 Iron and steel 66.6 95.8 37.0 95.2 71.8
9 Nonferrous 59.8 91.1 60.1 89.3 74.2
10 Industrial machinery
and equipment 74.3 93.2 64.0 85.4 72.3
11 Electrical machinery 64.7 89.4 71.6 84.0 75.0
12 Motor vehicles and
parts 51.3 95.0 45.5 89.1 55.9
13 Aerospace and miscel-
laneous transpor-
tation equipment 67.6 81.9 66.6 87.3 79.2
14 Nondurable goods 71.7 87.5 76.4 87.3 80.7
15 Textile mill products 60.0 91.2 72.3 90.4 77.7
16 Paper and products 69.2 96.1 80.6 93.5 85.0
17 Chemicals and products 69.7 84.6 69.9 86.2 79.3
18 Plastics materials 50.6 90.9 63.4 97.0 74.8
19 Petroleum products 81.1 90.0 66.8 88.5 85.1
20 Mining 88.2 96.0 80.3 88.0 87.0
21 Utilities 82.9 89.1 75.9 92.6 83.4
22 Electric 82.7 88.2 78.9 95.0 87.1
2000 2001
Series Apr. Nov. Dec. Jan.(r) Feb.(r)
Capacity utilization rate (percent)(2)
1 Total industry 82.5 81.4 80.6 79.7 79.2
2 Manufacturing 81.8 80.5 79.3 78.4 77.9
3 Primary processing(3) 86.2 82.8 80.9 79.2 78.6
4 Advanced processing(4) 79.8 79.7 79.0 78.6 78.1
5 Durable goods 82.4 80.8 79.5 77.9 77.0
6 Lumber and products 82.6 76.3 75.0 72.9 73.5
7 Primary metals 90.0 82.9 82.2 80.7 79.5
8 Iron and steel 89.4 79.4 77.2 75.5 75.0
9 Nonferrous 90.7 87.1 88.2 86.9 84.9
10 Industrial machinery
and equipment 81.9 82.5 82.1 80.5 79.1
11 Electrical machinery 89.5 87.1 85.5 82.9 80.5
12 Motor vehicles and
parts 83.8 76.2 72.1 65.8 68.9
13 Aerospace and miscel-
laneous transpor-
tation equipment 70.9 73.3 73.3 72.5 71.5
14 Nondurable goods 81.0 79.9 78.9 78.8 78.8
15 Textile mill products 84.1 75.6 77.1 76.0 76.2
16 Paper and products 86.4 83.2 81.7 81.0 81.3
17 Chemicals and products 77.0 75.7 74.5 73.8 74.2
18 Plastics materials 91.5 87.7 79.8 83.9 87.1
19 Petroleum products 95.1 94.9 93.2 93.5 94.6
20 Mining 85.7 87.3 86.1 87.5 87.8
21 Utilities 90.0 90.7 95.7 91.7 90.7
22 Electric 94.2 95.1 97.7 94.0 91.6
2001
Series Mar. Apr.(p)
Capacity utilization
rate (percent)(2)
1 Total industry 78.9 78.5
2 Manufacturing 77.5 77.1
3 Primary processing(3) 77.6 77.1
4 Advanced processing(4) 78.1 77.7
5 Durable goods 77.0 76.2
6 Lumber and products 73.8 73.6
7 Primary metals 78.3 77.5
8 Iron and steel 74.3 73.2
9 Nonferrous 83.0 82.6
10 Industrial machinery
and equipment 79.2 77.5
11 Electrical machinery 78.4 76.6
12 Motor vehicles and
parts 73.8 73.7
13 Aerospace and miscel-
laneous transpor-
tation equipment 72.1 72.5
14 Nondurable goods 78.0 78.0
15 Textile mill products 76.6 74.8
16 Paper and products 77.5 78.0
17 Chemicals and products 73.7 73.8
18 Plastics materials 86.8 86.5
19 Petroleum products 94.4 96.4
20 Mining 88.9 89.6
21 Utilities 90.8 89.6
22 Electric 92.4 92.0
(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.) Capacity utilization is calculated as the ratio of the Federal
Reserve's seasonally adjusted index of industrial production to the
corresponding index of capacity.
(3.) Primary processing includes textiles; lumber; paper; industrial
chemicals; synthetic materials; fertilizer materials; petroleum
products; robber and plastics; stone, clay, and glass; primary metals;
and fabricated metals.
(4.) Advanced processing includes foods, tobacco, apparel, furniture
and fixtures, printing and publishing, chemical products such as drugs
and toiletries, agricultural chemicals, leather and products,
machinery, transportation equipment, instruments, and miscellaneous
manufactures.
(5.) Monthly highs, 1978-80; monthly lows, 1982.
(6.) Monthly highs, 1988-89; monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value(1)
Monthly data seasonally adjusted
2000
1992
SIC(2) pro- 2000
Group code por- avg.
tion
Apr.
Index
(1992
=100)
MAJOR MARKETS
1 Total index 100.0 147.5 146.3
2 Products 60.5 136.2 135.3
3 Final products 46.3 138.8 137.2
4 Consumer goods, total 29.1 123.0 123.2
5 Durable consumer
goods 6.1 160.8 164.7
6 Automotive
products 2.6 153.2 157.6
7 Autos and trucks 1.7 166.9 173.7
8 Autos,
consumer .9 114.0 118.5
9 Trucks,
consumer .7 221.6 230.7
10 Auto parts and
allied goods .9 131.7 132.7
11 Other 3.5 167.1 170.6
12 Appliances,
televisions,
and air
conditioners 1.0 332.6 341.1
13 Carpeting and
furniture .8 129.7 131.8
14 Miscellaneous
home goods 1.6 120.4 122.7
15 Nondurable consumer
goods 23.0 114.2 113.6
16 Foods and tobacco 10.3 110.7 110.9
17 Clothing 2.4 85.0 87.5
18 Chemical products 4.5 137.0 136.5
19 Paper products 2.9 111.1 108.2
20 Energy 2.9 116.3 113.6
21 Fuels .8 113.0 112.1
22 Residential
utilities 2.1 117.9 113.8
23 Equipment 17.2 166.1 162.8
24 Business equipment 13.2 194.2 191.1
25 Information
processing
and related 5.4 312.2 298.8
26 Computer and
office
equipment 1.1 1,157.6 1,062.0
27 Industrial 4.0 144.6 142.9
28 Transit 2.5 127.7 131.3
29 Autos and trucks 1.2 145.6 156.5
30 Other 1.3 145.7 146.7
31 Defense and space
equipment 3.3 76.2 75.5
32 Oil and gas well
drilling .6 131.8 126.7
33 Manufactured homes .2 116.2 127.2
34 Intermediate products,
total 14.2 128.7 129.3
35 Construction supplies 5.3 143.2 144.4
36 Business supplies 8.9 120.1 120.4
37 Materials 39.5 167.8 166.1
38 Durable goods materials 20.8 227.6 222.7
39 Durable consumer parts 4.0 165.3 162.2
40 Equipment parts 7.6 478.3 451.9
41 Other 9.2 134.6 135.7
42 Basic metal
materials 3.1 128.7 131.9
43 Nondurable goods
materials 8.9 113.8 115.2
44 Textile materials 1.1 97.9 101.1
45 Paper materials 1.8 115.8 118.7
46 Chemical materials 3.9 117.0 118.1
47 Other 2.1 113.0 112.6
48 Energy materials 9.7 103.4 103.5
49 Primary energy 6.3 98.1 98.8
50 Converted fuel
materials 3.3 114.3 113.0
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 97.1 147.2 145.7
52 Total excluding motor
vehicles and
parts 95.1 146.3 144.9
53 Total excluding computer
and office
equipment 98.2 140.4 139.6
54 Consumer goods excluding
autos and
trucks 27.4 120.6 120.5
55 Consumer goods excluding
energy 26.2 123.9 124.4
56 Business equipment
excluding
autos and
trucks 12.0 200.1 195.2
57 Business equipment
excluding
computer and
office
equipment 12.1 158.4 157.4
58 Materials excluding energy 29.8 188.5 186.0
MAJOR INDUSTRIES
59 Total index ... 100.0 147.5 146.3
60 Manufacturing ... 85.4 153.6 152.2
61 Primary processing ... 26.5 178.0 177.1
62 Advanced processing ... 58.9 139.3 138.5
63 Durable goods ... 45.0 193.4 191.0
64 Lumber and products 24 2.0 118.3 121.6
65 Furniture and fixtures 25 1.4 142.9 140.7
66 Stone, clay, and glass
products 32 2.1 134.7 132.9
67 Primary metals 33 3.1 133.7 137.8
68 Iron and steel 331,2 1.7 131.1 136.8
69 Raw steel 331PT .1 120.9 127.3
70 Nonferrous 333-6,9 1.4 136.8 139.1
71 Fabricated metal
products 34 5.0 135.6 135.9
72 Industrial machinery
and
equipment 35 8.0 252.8 247.2
73 Computer and office
equipment 357 1.8 1,343.6 1,245.1
74 Electrical machinery 36 7.3 549.7 516.5
75 Transportation
equipment 37 9.5 131.0 132.1
76 Motor vehicles and
parts 371 4.9 170.5 174.1
77 Autos and light
trucks 371PT 2.6 153.0 159.2
78 Aerospace and
miscella-
neous trans-
portation
equipment 372-6,9 4.6 93.8 92.7
79 Instruments 38 5.4 122.2 121.5
80 Miscellaneous 39 1.3 130.8 130.9
81 Nondurable goods ... 40.4 116.9 116.7
82 Foods 20 9.4 114.7 114.7
83 Tobacco products 21 1.6 95.3 95.6
84 Textile mill products 22 1.8 100.1 104.4
85 Apparel products 23 2.2 91.7 94.6
86 Paper and products 26 3.6 116.1 118.4
87 Printing and
publishing 27 6.7 109.9 109.1
88 Chemicals and products 28 9.9 128.3 125.2
89 Petroleum products 29 1.4 117.1 117.2
90 Rubber and plastic
products 30 3.5 142.3 143.5
91 Leather and products 31 .3 69.8 70.0
92 Mining ... 6.9 100.0 99.9
93 Metal 10 .5 97.4 98.8
94 Coal 12 1.0 108.9 112.6
95 Oil and gas extraction 13 4.8 95.0 94.0
96 Stone and earth minerals 14 .6 126.4 130.4
97 Utilities ... 7.7 120.4 118.7
98 Electric 491,3PT 6.2 123.9 122.8
99 Gas 492,3PT 1.6 109.3 104.4
SPECIAL AGGREGATES
100 Manufacturing excluding
motor
vehicles and
parts ... 80.5 152.6 151.0
101 Manufacturing excluding
computer and
office
equipment ... 83.6 145.4 144.4
102 Computers, communications
equipment,
and semi-
conductors ... 5.9 1,195.2 1,097.8
103 Manufacturing excluding
computers
and semi-
conductors ... 81.1 128.3 128.0
104 Manufacturing excluding
computers,
communica-
tions equip-
ment, and
semi-
conductors ... 79.5 125.1 125.1
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total ... 2,001.9 2,860.5 2,868.9
106 Final ... 1,552.1 2,203.4 2,202.8
107 Consumer goods ... 1,049.6 1,340.0 1,347.2
108 Equipment ... 502.5 865.7 862.2
109 Intermediate ... 449.9 656.7 665.0
2000
Group
May June July Aug.
Index (1992=100)
MAJOR MARKETS
1 Total index 147.2 147.9 147.6 148.6
2 Products 135.5 136.0 135.8 136.6
3 Final products 137.5 138.3 138.1 139.2
4 Consumer goods, total 123.5 124.2 122.9 123.8
5 Durable consumer
goods 163.8 164.4 158.7 160.0
6 Automotive
products 157.9 157.8 149.4 153.8
7 Autos and trucks 175.7 174.8 160.5 169.8
8 Autos,
consumer 119.7 118.1 113.6 120.3
9 Trucks,
consumer 233.7 233.2 209.8 221.8
10 Auto parts and
allied goods 130.6 131.6 131.6 129.1
11 Other 168.5 169.8 166.7 165.2
12 Appliances,
televisions,
and air
conditioners 334.6 348.2 322.3 325.0
13 Carpeting and
furniture 130.8 130.1 131.5 128.6
14 Miscellaneous
home goods 121.6 120.5 121.3 119.7
15 Nondurable consumer
goods 114.1 114.8 114.5 115.2
16 Foods and tobacco 110.3 110.8 111.0 111.4
17 Clothing 86.8 85.1 85.6 84.2
18 Chemical products 138.5 139.3 137.4 139.4
19 Paper products 109.0 111.6 112.4 112.4
20 Energy 116.0 117.0 114.9 117.1
21 Fuels 113.1 113.4 112.6 113.1
22 Residential
utilities 117.1 118.5 115.6 119.0
23 Equipment 163.1 164.3 166.3 167.9
24 Business equipment 191.6 192.8 195.0 197.8
25 Information
processing
and related 302.5 307.0 313.9 322.1
26 Computer and
office
equipment 1,087.8 1,130.8 1,182.8 1,229.0
27 Industrial 143.4 143.8 144.4 147.7
28 Transit 129.0 130.1 127.6 126.8
29 Autos and trucks 153.9 152.9 141.5 142.8
30 Other 145.8 142.8 148.1 144.8
31 Defense and space
equipment 75.5 76.3 77.9 76.1
32 Oil and gas well
drilling 130.3 130.8 136.2 137.1
33 Manufactured homes 122.9 121.9 116.8 115.5
34 Intermediate products,
total 129.4 129.0 128.7 128.8
35 Construction supplies 143.1 143.4 143.8 142.7
36 Business supplies 121.3 120.5 119.8 120.6
37 Materials 168.4 169.4 169.0 170.5
38 Durable goods materials 227.6 230.3 230.5 233.8
39 Durable consumer parts 169.9 165.7 158.3 168.3
40 Equipment parts 466.8 486.2 499.9 505.7
41 Other 135.9 135.9 135.3 134.7
42 Basic metal
materials 130.8 130.7 128.5 127.5
43 Nondurable goods
materials 115.7 115.2 113.9 112.8
44 Textile materials 100.9 101.7 97.9 99.3
45 Paper materials 117.5 118.1 114.9 112.8
46 Chemical materials 119.8 118.4 117.0 116.8
47 Other 112.4 112.3 113.7 110.2
48 Energy materials 103.3 103.1 102.9 104.2
49 Primary energy 98.3 98.4 98.7 98.9
50 Converted fuel
materials 113.7 112.4 110.8 115.1
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 146.7 147.5 147.5 148.4
52 Total excluding motor
vehicles and
parts 145.8 146.5 146.9 147.4
53 Total excluding computer
and office
equipment 140.4 141.0 140.5 141.4
54 Consumer goods excluding
autos and
trucks 120.7 121.5 120.9 121.3
55 Consumer goods excluding
energy 124.4 125.0 123.9 124.5
56 Business equipment
excluding
autos and
trucks 196.1 197.6 201.5 204.5
57 Business equipment
excluding
computer and
office
equipment 157.3 157.6 158.6 160.3
58 Materials excluding energy 189.3 190.7 190.3 191.8
MAJOR INDUSTRIES
59 Total index 147.2 147.9 147.6 148.6
60 Manufacturing 153.1 153.8 153.7 154.6
61 Primary processing 178.7 180.1 179.4 180.3
62 Advanced processing 139.1 139.4 139.5 140.5
63 Durable goods 193.0 194.6 194.7 196.9
64 Lumber and products 120.5 118.7 118.6 115.5
65 Furniture and fixtures 143.0 141.9 142.6 143.8
66 Stone, clay, and glass
products 134.2 134.6 136.3 136.1
67 Primary metals 136.7 136.4 133.9 132.4
68 Iron and steel 135.9 135.5 129.9 129.7
69 Raw steel 127.1 128.2 126.4 123.9
70 Nonferrous 137.9 137.6 138.8 135.7
71 Fabricated metal
products 136.2 135.7 136.1 136.3
72 Industrial machinery
and
equipment 249.9 250.9 253.9 257.9
73 Computer and office
equipment 1,272.3 1,316.2 1,370.4 1,421.6
74 Electrical machinery 533.8 555.0 571.2 580.0
75 Transportation
equipment 133.6 133.5 128.0 132.4
76 Motor vehicles and
parts 177.6 176.1 163.1 173.9
77 Autos and light
trucks 161.1 160.1 147.8 156.4
78 Aerospace and
miscella-
neous trans-
portation
equipment 92.3 93.6 94.9 93.5
79 Instruments 121.3 122.2 122.6 123.3
80 Miscellaneous 130.7 130.5 132.1 130.8
81 Nondurable goods 116.7 116.7 116.3 116.3
82 Foods 114.2 114.9 115.0 115.1
83 Tobacco products 95.3 93.8 95.8 96.6
84 Textile mill products 102.6 103.1 101.4 99.4
85 Apparel products 93.0 91.2 92.0 90.7
86 Paper and products 116.5 118.8 114.9 113.3
87 Printing and
publishing 109.9 109.1 110.0 110.4
88 Chemicals and products 126.3 125.9 124.8 125.9
89 Petroleum products 118.9 118.8 117.0 117.6
90 Rubber and plastic
products 142.6 143.5 144.4 142.1
91 Leather and products 70.5 69.3 70.0 68.8
92 Mining 99.6 100.4 100.5 101.0
93 Metal 95.7 97.5 92.9 95.8
94 Coal 112.2 113.6 110.3 109.3
95 Oil and gas extraction 94.3 94.8 95.7 96.3
96 Stone and earth minerals 123.9 127.7 124.4 125.0
97 Utilities 121.6 121.7 119.1 122.1
98 Electric 125.2 124.8 121.1 126.1
99 Gas 108.7 110.5 111.0 108.4
SPECIAL AGGREGATES
100 Manufacturing excluding
motor
vehicles and
parts 151.7 152.6 153.2 153.5
101 Manufacturing excluding
computer and
office
equipment 145.2 145.8 145.4 146.2
102 Computers, communications
equipment,
and semi-
conductors 1,140.2 1,193.1 1,248.0 1,281.6
103 Manufacturing excluding
computers
and semi-
conductors 128.4 128.4 127.7 128.2
104 Manufacturing excluding
computers,
communica-
tions equip-
ment, and
semi-
conductors 125.4 125.3 124.5 124.9
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,872.7 2,883.5 2,865.7 2,882.9
106 Final 2,205.6 2,218.6 2,202.8 2,220.5
107 Consumer goods 1,349.8 1,357.8 1,338.7 1,348.7
108 Equipment 862.2 867.3 872.8 880.8
109 Intermediate 666.0 663.9 661.8 661.5
2000
Group
Sept. Oct. Nov. Dec.
Index (1992=100)
MAJOR MARKETS
1 Total index 149.0 148.7 148.2 147.3
2 Products 136.7 136.3 136.3 136.0
3 Final products 139.3 138.8 138.8 139.0
4 Consumer goods, total 123.8 122.7 122.4 123.1
5 Durable consumer
goods 162.8 157.3 154.3 153.4
6 Automotive
products 156.7 148.0 143.6 140.7
7 Autos and trucks 172.7 159.1 153.0 144.1
8 Autos,
consumer 120.5 107.8 103.0 94.3
9 Trucks,
consumer 227.1 212.0 204.3 194.7
10 Auto parts and
allied goods 132.1 130.2 128.2 133.8
11 Other 167.7 165.4 163.7 164.7
12 Appliances,
televisions,
and air
conditioners 340.5 332.5 332.7 341.7
13 Carpeting and
furniture 131.9 129.8 125.4 127.4
14 Miscellaneous
home goods 118.1 117.5 117.1 115.5
15 Nondurable consumer
goods 114.7 114.5 114.6 115.7
16 Foods and tobacco 110.5 110.4 110.7 110.1
17 Clothing 83.1 82.7 83.2 82.4
18 Chemical products 138.4 139.0 138.5 139.0
19 Paper products 112.4 113.8 112.5 112.2
20 Energy 118.4 115.5 117.3 126.1
21 Fuels 115.8 113.0 115.5 112.3
22 Residential
utilities 119.1 116.2 117.6 134.5
23 Equipment 168.3 169.1 169.9 168.9
24 Business equipment 199.5 200.0 200.6 199.2
25 Information
processing
and related 327.2 332.3 336.7 335.9
26 Computer and
office
equipment 1,264.1 1,286.4 1,305.0 1,318.3
27 Industrial 146.5 146.9 147.4 145.8
28 Transit 127.7 121.6 121.8 117.4
29 Autos and trucks 144.2 131.4 130.4 122.0
30 Other 149.3 154.2 148.6 153.5
31 Defense and space
equipment 73.7 75.3 77.0 77.5
32 Oil and gas well
drilling 132.8 136.5 138.9 139.1
33 Manufactured homes 109.3 98.8 90.9 83.5
34 Intermediate products,
total 128.6 128.7 128.5 126.8
35 Construction supplies 143.1 142.3 141.6 140.6
36 Business supplies 120.0 120.7 120.7 118.5
37 Materials 171.3 171.1 169.9 167.8
38 Durable goods materials 235.7 235.0 232.9 230.3
39 Durable consumer parts 169.0 168.5 161.8 157.6
40 Equipment parts 512.1 515.9 521.4 522.3
41 Other 135.5 133.7 131.8 129.6
42 Basic metal
materials 129.2 125.9 124.4 123.6
43 Nondurable goods
materials 112.7 113.4 110.7 108.6
44 Textile materials 95.9 94.0 89.5 90.3
45 Paper materials 113.8 117.2 113.4 109.4
46 Chemical materials 116.3 115.9 113.7 109.8
47 Other 112.0 114.0 111.9 113.9
48 Energy materials 104.3 103.9 105.4 104.5
49 Primary energy 98.5 97.8 99.3 98.6
50 Converted fuel
materials 116.6 117.2 118.7 117.3
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 148.7 148.8 148.4 147.8
52 Total excluding motor
vehicles and
parts 147.7 147.8 147.7 147.2
53 Total excluding computer
and office
equipment 141.6 141.2 140.8 139.9
54 Consumer goods excluding
autos and
trucks 121.2 120.7 120.6 121.9
55 Consumer goods excluding
energy 124.4 123.6 122.9 122.5
56 Business equipment
excluding
autos and
trucks 206.3 208.5 209.4 208.9
57 Business equipment
excluding
computer and
office
equipment 161.2 161.2 161.5 159.9
58 Materials excluding energy 193.0 192.8 190.4 187.8
MAJOR INDUSTRIES
59 Total index 149.0 148.7 148.2 147.3
60 Manufacturing 155.1 154.9 154.1 152.6
61 Primary processing 181.2 181.1 178.8 176.1
62 Advanced processing 140.8 140.5 140.5 139.6
63 Durable goods 198.4 197.6 196.7 195.1
64 Lumber and products 116.8 114.8 113.2 111.5
65 Furniture and fixtures 146.6 147.2 145.0 145.3
66 Stone, clay, and glass
products 136.5 137.3 134.6 132.4
67 Primary metals 133.9 129.0 127.3 126.3
68 Iron and steel 131.9 123.7 122.0 118.7
69 Raw steel 117.7 115.6 106.3 104.6
70 Nonferrous 136.5 135.3 133.6 135.2
71 Fabricated metal
products 136.0 136.0 134.7 132.9
72 Industrial machinery
and
equipment 260.0 261.5 261.9 262.3
73 Computer and office
equipment 1,464.2 1,487.4 1,502.8 1,508.3
74 Electrical machinery 592.2 597.4 604.4 610.2
75 Transportation
equipment 132.4 129.2 126.8 122.8
76 Motor vehicles and
parts 175.5 167.2 160.1 151.8
77 Autos and light
trucks 158.8 145.8 140.1 131.5
78 Aerospace and
miscella-
neous trans-
portation
equipment 92.1 93.6 95.4 95.3
79 Instruments 123.7 123.5 124.6 123.1
80 Miscellaneous 130.9 131.1 130.2 129.4
81 Nondurable goods 116.0 116.3 115.5 114.1
82 Foods 114.6 114.8 115.0 114.2
83 Tobacco products 94.5 93.7 93.1 94.2
84 Textile mill products 98.4 96.7 92.8 94.5
85 Apparel products 89.5 89.2 89.2 88.2
86 Paper and products 113.7 117.1 114.7 112.7
87 Printing and
publishing 110.9 111.6 111.2 109.2
88 Chemicals and products 125.4 125.8 124.8 122.9
89 Petroleum products 117.4 116.5 116.9 114.7
90 Rubber and plastic
products 141.9 141.3 139.1 137.3
91 Leather and products 69.8 68.6 68.9 66.9
92 Mining 100.4 100.1 101.1 99.6
93 Metal 99.3 96.3 93.7 99.5
94 Coal 107.0 110.2 108.6 106.1
95 Oil and gas extraction 95.7 95.1 96.6 95.2
96 Stone and earth minerals 123.7 124.6 123.2 119.3
97 Utilities 121.7 120.0 121.9 129.1
98 Electric 124.7 124.2 127.3 131.2
99 Gas 110.5 105.8 104.5 120.2
SPECIAL AGGREGATES
100 Manufacturing excluding
motor
vehicles and
parts 153.9 154.3 153.8 152.7
101 Manufacturing excluding
computer and
office
equipment 146.5 146.2 145.4 143.9
102 Computers, communications
equipment,
and semi-
conductors 1,310.3 1,334.8 1,358.1 1,368.9
103 Manufacturing excluding
computers
and semi-
conductors 128.4 128.0 127.1 125.6
104 Manufacturing excluding
computers,
communica-
tions equip-
ment, and
semi-
conductors 125.0 124.6 123.6 122.1
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,889.1 2,867.4 2,863.2 2,850.2
106 Final 2,228.1 2,205.4 2,203.7 2,198.2
107 Consumer goods 1,353.7 1,334.7 1,331.2 1,332.8
108 Equipment 883.3 880.9 883.3 874.9
109 Intermediate 660.2 661.0 658.6 651.2
2001
Group
Jan.(r) Feb.(r) Mar. Apr.(p)
Index (1992=100)
MAJOR MARKETS
1 Total index 146.0 145.5 145.3 144.9
2 Products 135.0 134.7 134.8 134.3
3 Final products 137.8 137.7 138.1 137.6
4 Consumer goods, total 121.8 122.3 122.4 122.2
5 Durable consumer
goods 148.9 150.3 154.5 154.0
6 Automotive
products 133.8 136.5 144.9 145.8
7 Autos and trucks 136.2 141.0 154.5 156.2
8 Autos,
consumer 99.4 98.7 104.1 102.4
9 Trucks,
consumer 175.5 185.2 206.3 210.8
10 Auto parts and
allied goods 128.4 128.2 129.2 129.0
11 Other 162.7 162.8 162.9 160.9
12 Appliances,
televisions,
and air
conditioners 332.0 329.5 336.4 336.1
13 Carpeting and
furniture 123.9 128.2 126.8 125.0
14 Miscellaneous
home goods 116.5 114.8 114.2 112.0
15 Nondurable consumer
goods 114.9 115.3 114.7 114.6
16 Foods and tobacco 110.3 110.6 109.9 109.9
17 Clothing 82.6 80.3 80.3 79.2
18 Chemical products 139.1 141.6 141.8 142.1
19 Paper products 113.7 111.2 109.6 109.6
20 Energy 119.0 120.5 120.0 119.2
21 Fuels 112.0 114.7 114.1 116.4
22 Residential
utilities 122.8 123.5 123.1 120.2
23 Equipment 168.0 166.4 167.4 166.2
24 Business equipment 197.4 195.1 196.1 193.8
25 Information
processing
and related 337.4 331.8 329.9 328.5
26 Computer and
office
equipment 1,310.6 1,298.2 1,301.3 1,300.1
27 Industrial 145.7 141.5 142.3 139.8
28 Transit 111.7 112.4 116.7 115.3
29 Autos and trucks 115.6 119.3 128.8 124.6
30 Other 149.3 153.8 153.3 149.9
31 Defense and space
equipment 78.5 77.9 78.8 79.8
32 Oil and gas well
drilling 146.7 147.9 150.7 155.3
33 Manufactured homes 73.5 81.0 79.6 78.9
34 Intermediate products,
total 126.7 126.0 125.0 124.5
35 Construction supplies 140.7 139.7 139.2 138.4
36 Business supplies 118.4 117.9 116.7 116.3
37 Materials 165.9 164.8 164.3 163.9
38 Durable goods materials 226.6 224.9 224.3 223.1
39 Durable consumer parts 146.1 149.4 153.3 153.7
40 Equipment parts 517.5 513.7 510.3 506.5
41 Other 130.1 127.4 126.0 125.0
42 Basic metal
materials 121.2 118.8 116.7 115.7
43 Nondurable goods
materials 107.5 106.8 104.7 104.9
44 Textile materials 91.0 88.0 87.9 86.2
45 Paper materials 110.3 112.1 105.3 105.8
46 Chemical materials 108.5 107.7 106.5 106.9
47 Other 111.0 109.7 108.5 108.6
48 Energy materials 104.4 104.2 105.1 105.4
49 Primary energy 100.3 99.4 101.0 101.4
50 Converted fuel
materials 111.8 113.7 112.4 112.5
SPECIAL AGGREGATES
51 Total excluding autos and
trucks 146.6 146.0 145.5 145.0
52 Total excluding motor
vehicles and
parts 146.5 145.6 144.9 144.4
53 Total excluding computer
and office
equipment 138.6 138.1 138.0 137.5
54 Consumer goods excluding
autos and
trucks 120.8 121.1 120.7 120.4
55 Consumer goods excluding
energy 122.0 122.3 122.6 122.5
56 Business equipment
excluding
autos and
trucks 207.7 204.6 204.4 202.5
57 Business equipment
excluding
computer and
office
equipment 158.4 156.5 157.4 155.3
58 Materials excluding energy 185.1 183.8 182.5 181.8
MAJOR INDUSTRIES
59 Total index 146.0 145.5 145.3 144.9
60 Manufacturing 151.3 150.7 150.3 149.8
61 Primary processing 173.5 172.9 171.5 170.9
62 Advanced processing 139.0 138.4 138.5 138.0
63 Durable goods 192.3 191.0 191.9 190.7
64 Lumber and products 108.3 109.3 109.9 109.6
65 Furniture and fixtures 144.1 143.6 142.1 142.5
66 Stone, clay, and glass
products 135.2 134.3 133.5 132.7
67 Primary metals 124.0 122.1 120.2 119.0
68 Iron and steel 116.0 115.2 114.1 112.3
69 Raw steel 108.3 109.1 109.2 106.3
70 Nonferrous 133.4 130.3 127.4 127.0
71 Fabricated metal
products 133.5 130.6 129.8 128.3
72 Industrial machinery
and
equipment 258.4 255.0 256.4 252.0
73 Computer and office
equipment 1,497.4 1,484.6 1,485.2 1,482.6
74 Electrical machinery 604.3 597.3 591.1 585.6
75 Transportation
equipment 116.0 118.5 124.0 124.2
76 Motor vehicles and
parts 138.6 145.3 155.9 155.8
77 Autos and light
trucks 125.9 129.7 141.5 142.6
78 Aerospace and
miscella-
neous trans-
portation
equipment 94.3 93.0 93.7 94.2
79 Instruments 125.0 123.0 122.7 123.8
80 Miscellaneous 130.4 128.2 126.6 125.2
81 Nondurable goods 114.0 114.0 112.8 112.8
82 Foods 114.1 114.9 114.4 114.4
83 Tobacco products 95.2 93.7 91.7 92.3
84 Textile mill products 93.0 92.9 93.1 90.7
85 Apparel products 88.9 86.5 86.9 85.6
86 Paper and products 111.8 112.5 107.3 108.0
87 Printing and
publishing 109.6 108.5 107.1 106.7
88 Chemicals and products 121.8 122.4 121.7 121.8
89 Petroleum products 115.1 116.5 116.2 118.7
90 Rubber and plastic
products 138.5 136.9 135.3 134.5
91 Leather and products 67.1 65.0 63.3 63.3
92 Mining 101.0 101.3 102.4 103.1
93 Metal 94.6 92.6 91.1 92.0
94 Coal 115.2 110.7 116.6 116.8
95 Oil and gas extraction 96.1 96.9 97.6 98.3
96 Stone and earth minerals 121.7 121.8 123.3 123.4
97 Utilities 124.0 123.1 123.6 122.3
98 Electric 126.7 123.9 125.5 125.3
99 Gas 113.7 117.6 115.5 111.3
SPECIAL AGGREGATES
100 Manufacturing excluding
motor
vehicles and
parts 152.2 151.2 150.1 149.6
101 Manufacturing excluding
computer and
office
equipment 142.7 142.2 141.8 141.3
102 Computers, communications
equipment,
and semi-
conductors 1,351.7 1,338.6 1,326.7 1,314.0
103 Manufacturing excluding
computers
and semi-
conductors 124.7 124.3 124.0 123.6
104 Manufacturing excluding
computers,
communica-
tions equip-
ment, and
semi-
conductors 121.1 120.7 120.5 120.2
Gross value (billions of 1992
dollars, annual rates)
MAJOR MARKETS
105 Products, total 2,818.1 2,820.1 2,833.5 2,823.6
106 Final 2,167.1 2,172.9 2,190.3 2,182.5
107 Consumer goods 1,312.2 1,321.7 1,330.1 1,330.0
108 Equipment 864.8 859.3 869.0 859.9
109 Intermediate 649.9 646.4 642.6 640.6
(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.) Standard industrial classification.
2.14 HOUSING AND CONSTRUCTION
Monthly figures at seasonally adjusted annual rates except as noted
2000(r)
Item 1998 1999 2000
June
Private residential real estate
activity (thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,612 1,664 1,592 1,566
2 One-family 1,188 1,247 1,198 1,155
3 Two-family or more 425 417 394 411
4 Started 1,617 1,641 1,569 1,560
5 One-family 1,271 1,302 1,231 1,199
6 Two-family or more 346 339 338 361
7 Under construction at end
of period(1) 971 953 934 983
8 One-family 659 648 623 664
9 Two-family or more 312 305 310 319
10 Completed 1,474 1,605 1,574 1,532
11 One-family 1,160 1,270 1,242 1,190
12 Two-family or more 315 335 332 342
13 Mobile homes shipped 374 348 250 262
Merchant builder
activity in
one-family units
14 Number sold 886 907 903 793
15 Number for sale at end
of period(1) 300 315 301 307
Price of units sold
(thousands of dollars)(2)
16 Median 152.5 160.0 169.0 160.1
17 Average 181.9 195.8 206.4 197.7
EXISTING UNITS
(one-family)
18 Number sold 4,970 5,205 5,113 5,180
Price of units sold
(thousands of dollars)(2)
19 Median 128.4 133.3 139.0 140.2
20 Average 159.1 168.3 176.2 178.9
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 710,104 765,719 809,258 798,860
22 Private 550,983 592,037 624,613 624,383
23 Residential 314,058 348,584 359,315 363,756
24 Nonresidential 236,925 243,454 265,297 260,627
25 Industrial buildings 40,464 35,016 40,406 39,951
26 Commercial buildings 95,753 103,759 114,898 112,834
27 Other buildings 39,607 41,279 45,486 44,559
28 Public utilities and
other 61,101 63,400 64,507 63,283
29 Public 159,121 173,682 184,645 174,477
30 Military 2,538 2,122 2,255 2,157
31 Highway 48,339 54,447 52,461 48,148
32 Conservation and
development 5,421 6,002 6,026 5,832
33 Other 102,823 111,110 123,904 118,340
2000(r)
Item
July Aug. Sept.
Private residential
real estate activity
(thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,534 1,544 1,549
2 One-family 1,149 1,169 1,173
3 Two-family or more 385 375 376
4 Started 1,477 1,531 1,508
5 One-family 1,148 1,228 1,196
6 Two-family or more 329 303 312
7 Under construction at end
of period(1) 980 975 971
8 One-family 658 659 658
9 Two-family or more 322 316 313
10 Completed 1,489 1,583 1,526
11 One-family 1,181 1,235 1,181
12 Two-family or more 308 348 345
13 Mobile homes shipped 251 249 231
Merchant builder
activity in
one-family units
14 Number sold 881 839 902
15 Number for sale at end
of period(1) 304 304 301
Price of units sold
(thousands of dollars)(2)
16 Median 169.0 166.6 171.5
17 Average 202.2 200.2 208.3
EXISTING UNITS
(one-family)
18 Number sold 4,820 5,240 5,160
Price of units sold
(thousands of dollars)(2)
19 Median 143.3 143.2 141.6
20 Average 177.7 183.0 178.6
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 793,036 801,748 813,477
22 Private 619,046 616,918 625,317
23 Residential 355,196 350,783 351,682
24 Nonresidential 263,850 266,135 273,635
25 Industrial buildings 42,081 41,552 40,872
26 Commercial buildings 112,114 115,279 118,445
27 Other buildings 45,689 46,779 46,689
28 Public utilities and
other 63,966 62,525 67,629
29 Public 173,990 184,830 188,160
30 Military 2,100 2,331 2,418
31 Highway 49,262 52,694 53,183
32 Conservation and
development 4,875 5,629 6,158
33 Other 117,753 124,176 126,401
2000(r)
Item
Oct. Nov. Dec.
Private residential
real estate activity
(thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,562 1,614 1,553
2 One-family 1,212 1,203 1,187
3 Two-family or more 350 411 366
4 Started 1,527 1,559 1,532
5 One-family 1,218 1,209 1,236
6 Two-family or more 309 350 296
7 Under construction at end
of period(1) 971 969 965
8 One-family 659 655 652
9 Two-family or more 312 314 313
10 Completed 1,509 1,548 1,527
11 One-family 1,172 1,236 1,228
12 Two-family or more 337 312 299
13 Mobile homes shipped 213 196 176
Merchant builder
activity in
one-family units
14 Number sold 922 882 1,001
15 Number for sale at end
of period(1) 301 304 297
Price of units sold
(thousands of dollars)(2)
16 Median 176.3 174.7 162.0
17 Average 215.1 210.7 208.1
EXISTING UNITS
(one-family)
18 Number sold 5,070 5,300 4,940
Price of units sold
(thousands of dollars)(2)
19 Median 138.6 139.5 139.7
20 Average 176.9 176.5 178.5
Value of new construction
(millions of dollars)(3)
CONSTRUCTION
21 Total put in place 803,893 808,948 811,535
22 Private 618,738 624,580 625,141
23 Residential 348,076 348,998 350,679
24 Nonresidential 270,662 275,582 274,462
25 Industrial buildings 42,811 46,894 40,716
26 Commercial buildings 117,039 116,224 118,987
27 Other buildings 46,690 46,060 44,974
28 Public utilities and
other 64,122 66,404 69,785
29 Public 185,155 184,368 186,393
30 Military 1,880 2,612 2,097
31 Highway 47,932 46,825 48,073
32 Conservation and
development 6,989 5,603 6,330
33 Other 128,354 129,328 129,893
2001
Item
Jan.(r) Feb.(r) Mar.
Private residential
real estate activity
(thousands of units
except as noted)
NEW UNITS
1 Permits authorized 1,724 1,663 1,627
2 One-family 1,283 1,228 1,209
3 Two-family or more 441 435 418
4 Started 1,666 1,623 1,586
5 One-family 1,336 1,288 1,207
6 Two-family or more 330 335 379
7 Under construction at end
of period(1) 985 989 991
8 One-family 669 675 672
9 Two-family or more 316 314 319
10 Completed 1,424 1,531 1,464
11 One-family 1,090 1,201 1,189
12 Two-family or more 334 330 275
13 Mobile homes shipped 164 177 179
Merchant builder
activity in
one-family units
14 Number sold 938 966 988
15 Number for sale at end
of period(1) 295 293 283
Price of units sold
(thousands of dollars)(2)
16 Median 171.3 167.3 163.6
17 Average 209.0 210.4 206.6
EXISTING UNITS
(one-family)
18 Number sold 5,200 5,190 5,430
Price of units sold
(thousands of dollars)(2)
19 Median 137.1 138.6 143.4
20 Average 175.8 174.6 179.5
Value of new constr 
