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Federal Reserve Bulletin, Sept, 2003
1.10 RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted (1)
2002
Monetary or credit aggregate
Q3 Q4
Reserves of depository institutions (2)
1 Total -2.2 1.0
2 Required -4.9 -1.4
3 Nonborrowed -3.7 1.9
4 Monetary base (3) 6.9 5.1
Concepts of money (4)
5 M1 3.0 4.9
6 M2 8.8 7.0
7 M3 7.1 (r) 7.7
Nontransaction components
8 In M2 (5) 10.4 7.6
9 In M3 only (6) 3.4 (r) 9.2
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 20.1 16.8
11 Small time (7) -4.0 -7.3
12 Large time (8,9) .5 (r) -5.6
Thrift institutions
13 Savings, including MMDAs 20.5 20.0
14 Small time (7) -10.5 -6.0
15 Large time (8) -2.6 11.9
Money market mutual funds
16 Retail .9 -6.3
17 Institution-only -.7 2.1
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 27.5 45.7
19 Eurodollars (10) -3.5 28.9
2003
Monetary or credit aggregate
Q1 Q2
Reserves of depository institutions (2)
1 Total 11.3 6.7
2 Required 11.4 8.1
3 Nonborrowed 12.8 6.2
4 Monetary base (3) 7.6 5.9
Concepts of money (4)
5 M1 7.5 (r) 9.2
6 M2 6.5 8.5
7 M3 5.6 (r) 6.1
Nontransaction components
8 In M2 (5) 6.3 8.3
9 In M3 only (6) 3.6 (r) .8
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 13.6 16.5
11 Small time (7) -7.2 -8.7
12 Large time (8,9) -4.5 (r) 5.6
Thrift institutions
13 Savings, including MMDAs 22.0 (r) 24.5
14 Small time (7) -6.5 -7.3
15 Large time (8) 8.9 -2.1
Money market mutual funds
16 Retail -8.8 -7.7
17 Institution-only -4.9 -14.7
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 29.8 23.7
19 Eurodollars (10) 18.8 (r) 19.4
2003
Monetary or credit aggregate
Feb. Mar.
Reserves of depository institutions (2)
1 Total 2.6 4.5
2 Required -5.2 14.9
3 Nonborrowed 2.7 4.6
4 Monetary base (3) 9.8 6.7
Concepts of money (4)
5 M1 20.3 (r) 3.4 (r)
6 M2 11.3 2.9 (r)
7 M3 6.7 (r) 3.9 (r)
Nontransaction components
8 In M2 (5) 9.0 (r) 2.8 (r)
9 In M3 only (6) -3.2 (r) 6.0 (r)
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 16.0 4.3
11 Small time (7) -7.4 (r) -6.8
12 Large time (8,9) -4.0 (r) 9.5 (r)
Thrift institutions
13 Savings, including MMDAs 26.9 19.5 (r)
14 Small time (7) -10.0 -6.0
15 Large time (8) .0 -8.1
Money market mutual funds
16 Retail -4.6 -5.5
17 Institution-only -19.8 -13.1
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 36.4 44.6
19 Eurodollars (10) 5.6 (r) 20.4 (r)
2003
Monetary or credit aggregate
Apr. May (r)
Reserves of depository institutions (2)
1 Total -4.9 5.3
2 Required -1.9 2.8
3 Nonborrowed -5.1 4.5
4 Monetary base (3) 5.3 5.1
Concepts of money (4)
5 M1 .4 (r) 20.3
6 M2 4.7 17.6
7 M3 2.1 (r) 12.3
Nontransaction components
8 In M2 (5) 5.9 (r) 16.9
9 In M3 only (6) -3.6 (r) .8
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 17.6 (r) 23.4
11 Small time (7) -8.7 (r) -10.4
12 Large time (8,9) 3.0 (r) 13.4
Thrift institutions
13 Savings, including MMDAs 18.9 40.2
14 Small time (7) -4.5 (r) -9.7
15 Large time (8) 2.0 -10.2
Money market mutual funds
16 Retail -19.7 7.7
17 Institution-only -22.4 -20.1
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 18.5 13.4
19 Eurodollars (10) 21.6 (r) 42.4
2004
Monetary or credit aggregate
June
Reserves of depository institutions (2)
1 Total 53.0
2 Required 48.0
3 Nonborrowed 50.0
4 Monetary base (3) 3.4
Concepts of money (4)
5 M1 13.3
6 M2 9.3
7 M3 8.7
Nontransaction components
8 In M2 (5) 8.2
9 In M3 only (6) 7.4
Time and savings deposits
Commercial banks
10 Savings, including MMDAs 21.4
11 Small time (7) -11.3
12 Large time (8,9) .0
Thrift institutions
13 Savings, including MMDAs 12.9
14 Small time (7) -11.1
15 Large time (8) 11.3
Money market mutual funds
16 Retail -9.4
17 Institution-only 20.3
Repurchase agreements and eurodollars
18 Repurchase agreements (10) 3.1
19 Eurodollars (10) -22.9
(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 have 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 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 chekable deposits (OCDs),
consisting of negotiable order of withdrawal (NOW) and automatic
transfer service (ATS) accounts at depository institutions, credit
union share draft accounts, and demand deposits at thrift institutions.
Seasonally adjusted M1 is computed by summing currency, travelers
checks, demand deposits, and OCDs, each seasonally adjusted separately.
M2: M1 plus (1) savings (including MMDAS), (2) small-denomination time
deposits (time deposits--including retail RPs--in amounts of less than
$100,000), and (3) balances in retail money market mutual funds.
Excludes individual retirement accounts (IRAs) and Keogh balances at
depository institutions and money market funds.
Seasonally adjusted M2 is calculated by summing savings deposits,
small-denomination time deposits, and retail money fund balances, each
seasonally adjusted separately, and adding this result to seasonally
adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amounts of
$100,000 or more), (2) balances in institutional money funds, (3) RP
liabilities (overnight and term) issued by all depository institutions,
and (4) eurodollars (overnight and term) held by U.S. residents at
foreign branches of U.S. banks worldwide and at all banking offices in
the United Kingdom and Canada. Excludes amounts held by depository
institutions, the U.S. government, money market funds, and foreign
banks and official institutions. Seasonally adjusted M3 is calculated
by summing large time deposits, institutional money fund balances, RP
liabilities, and eurodollers, each seasonally adjusted separately, and
adding this result to seasonally adjusted M2.
(5.) Sum of (1) savings deposits (including MMDAs), (2) small time
deposits, and (3) retail money fund balances, each seasonally adjusted
separately.
(6.) Sum of (1) large time deposits, (2) institutional money fund
balances, (3) RP liabilities (overnight and term) issued by depository
institutions, and (4) eurodollars (overnight and term) of U.S.
addressees, each seasonally adjusted separately.
(7.) Small time deposits--including retail RPs--are those issued in
amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrift institutions are subtracted from small
time deposits.
(8.) Large time deposits are those issued in amounts of $100,000 or
more, excluding those banked 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 RESERVE BALANCES OF DEPOSITORY INSTITUTIONS (1)
Millions of dollars
Average of
daily figures
Factor 2003
Apr. May
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 710,451 714,217
2 Securities held outright 645,586 649,309
3 U.S.Treasury (2) 645,576 649,299
4 Bills (3) 235,465 237,126
5 Notes and bonds, nominal (3) 395,917 397,882
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,380 1,477
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 25,792 26,121
10 Loans to depository institutions 30 57
11 Primary credit 8 4
12 Secondary credit 0 0
13 Seasonal credit 22 53
14 Float -115 -350
15 Other Federal Reserve assets 39,158 39,080
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 34,852 (r) 34,937 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 687,355 (r) 690,751 (r)
20 Reverse repurchase agreements (6) 20,639 21,137
21 Foreign official and international
accounts 20,564 21,137
22 Dealers 75 0
23 Treasury cash holding 356 391
24 Deposits with Federal Reserve Banks,
other than reserve balances 19,183 18,232
25 U.S. Treasury, general account 7,533 6,678
26 Foreign official 118 122
27 Service-related 11,261 11,178
28 Required clearing balances 10,835 10,849
29 Adjustments to compensate for float 426 329
30 Other 270 254
31 Other liabilities and capital 20,024 20,300
32 Reserve balances with Federal Reserve
Banks (7) 10,989 11,626
Average Average of
of daily
daily figures
figures for week
ending
on date
indicated
Factor 2003
June May 14
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 715,547 714,344
2 Securities held outright 651,774 647,817
3 U.S.Treasury (2) 651,764 647,807
4 Bills (3) 238,596 236,754
5 Notes and bonds, nominal (3) 398,853 396,776
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,500 1,463
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 25,074 25,644
10 Loans to depository institutions 174 51
11 Primary credit 100 2
12 Secondary credit 0 0
13 Seasonal credit 74 49
14 Float -166 -7
15 Other Federal Reserve assets 38,692 40,839
16 Gold stock 11,044 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,005 34,925 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 691,876 689,722 (r)
20 Reverse repurchase agreements (6) 22,038 20,641
21 Foreign official and international
accounts 21,530 20,641
22 Dealers 508 0
23 Treasury cash holding 375 343
24 Deposits with Federal Reserve Banks,
other than reserve balances 18,169 18,775
25 U.S. Treasury, general account 6,747 7,139
26 Foreign official 157 86
27 Service-related 11,028 11,291
28 Required clearing balances 10,832 10,882
29 Adjustments to compensate for float 196 409
30 Other 237 259
31 Other liabilities and capital 20,170 20,438
32 Reserve balances with Federal Reserve
Banks (7) 11,168 12,592
Average of daily figures
for week ending on date
indicated
Factor 2003
May 21 May 28
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 711,802 720,472
2 Securities held outright 650,403 650,852
3 U.S.Treasury (2) 650,393 650,842
4 Bills (3) 237,390 237,672
5 Notes and bonds, nominal (3) 398,707 398,853
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,482 1,502
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 24,608 31,857
10 Loans to depository institutions 56 59
11 Primary credit 2 2
12 Secondary credit 0 0
13 Seasonal credit 54 57
14 Float -869 -413
15 Other Federal Reserve assets 37,603 38,116
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 34,942 (r) 34,959 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 689,396 (r) 693,612 (r)
20 Reverse repurchase agreements (6) 20,415 21,598
21 Foreign official and international
accounts 20,415 21,598
22 Dealers 0 0
23 Treasury cash holding 350 359
24 Deposits with Federal Reserve Banks,
other than reserve balances 18,563 17,049 (r)
25 U.S. Treasury, general account 6,899 5,543
26 Foreign official 116 160
27 Service-related 11,280 11,104 (r)
28 Required clearing balances 10,819 10,819 (r)
29 Adjustments to compensate for float 461 285
30 Other 266 242
31 Other liabilities and capital 20,280 20,281
32 Reserve balances with Federal Reserve
Banks (7) 10,443 15,774 (r)
Average of daily
figures for week
ending on date
indicated
Factor 2003
June 4 June 11
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 716,896 713,208
2 Securities held outright 651,202 651,585
3 U.S.Treasury (2) 651,192 651,575
4 Bills (3) 238,010 238,400
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,514 1,508
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 27,813 23,286
10 Loans to depository institutions 76 62
11 Primary credit 12 2
12 Secondary credit 0 0
13 Seasonal credit 64 61
14 Float -342 -100
15 Other Federal Reserve assets 38,147 38,375
16 Gold stock 11,044 11,044
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 34,976 34,990
ABSORBING RESERVE FUNDS
19 Currency in circulation 692,938 692,182
20 Reverse repurchase agreements (6) 21,987 20,816
21 Foreign official and international
accounts 21,808 20,816
22 Dealers 179 0
23 Treasury cash holding 376 385
24 Deposits with Federal Reserve Banks,
other than reserve balances 17,842 17,773
25 U.S. Treasury, general account 6,487 6,515
26 Foreign official 123 139
27 Service-related 11,003 10,878
28 Required clearing balances 10,832 10,832
29 Adjustments to compensate for float 170 45
30 Other 229 241
31 Other liabilities and capital 19,990 20,190
32 Reserve balances with Federal Reserve
Banks (7) 11,983 10,096
Average of daily
figures for week
ending on date
indicated
Factor
June 18 June 25
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 713,851 717,693
2 Securities held outright 651,783 651,960
3 U.S.Tresury (2) 651,773 651,950
4 Bills (3) 238,605 238,790
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,501 1,493
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 23,179 26,321
10 Loans to depository institutions 74 407
11 Primary credit 3 322
12 Secondary credit 0 0
13 Seasonal credit 71 84
14 Float 4 22
15 Other Federal Reserve assets 38,811 38,983
16 Gold stock 11,044 11,044
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,004 35,018
ABSORBING RESERVE FUNDS
19 Currency in circulation 691,523 691,121
20 Reverse repurchase agreements (6) 21,464 22,714
21 Foreign official and international
accounts 21,142 21,036
22 Dealers 321 1,679
23 Treasury cash holding 379 368
24 Deposits with Federal Reserve Banks,
other than reserve balances 18,555 18,637
25 U.S. Treasury, general account 7,147 7,199
26 Foreign official 88 162
27 Service-related 11,088 11,056
28 Required clearing balances 10,830 10,830
29 Adjustments to compensate for float 258 226
30 Other 232 220
31 Other liabilities and capital 20,322 20,106
32 Reserve balances with Federal Reserve
Banks (7) 9,855 13,009
Factor End-of-month figures
Apr. May
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 724,444 719,092
2 Securities held outright 647,281 651,127
3 U.S.Treasury (2) 647,271 651,117
4 Bills (3) 236,249 237,933
5 Notes and bonds, nominal (3) 396,776 398,853
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,431 1,517
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 37,501 30,240
10 Loans to depository institutions 35 80
11 Primary credit 0 15
12 Secondary credit 0 0
13 Seasonal credit 35 65
14 Float -101 -599
15 Other Federal Reserve assets 39,728 38,244
16 Gold stock 11,043 11,044
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 34,890 (r) 34,976 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 688,760 (r) 692,355 (r)
20 Reverse repurchase agreements (6) 20,814 22,285
21 Foreign official and international
accounts 20,814 22,285
22 Dealers 0 0
23 Treasury cash holding 340 375
24 Deposits with Federal Reserve Banks,
other than reserve balances 22,135 17,803 (r)
25 U.S. Treasury, general account 10,583 6,505
26 Foreign official 313 79
27 Service-related 11,008 11,003
28 Required clearing balances 10,829 10,832 (r)
29 Adjustments to compensate for float 179 170
30 Other 231 217
31 Other liabilities and capital 20,049 19,973
32 Reserve balances with Federal Reserve
Banks (7) 20,479 14,521 (r)
End-of- Wednesday
month figures
figures
Factor 2003
June May 14
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 722,933 720,072
2 Securities held outright 652,128 647,947
3 U.S.Treasury (2) 652,118 647,937
4 Bills (3) 238,965 236,877
5 Notes and bonds, nominal (3) 398,853 396,776
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,485 1,470
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 31,750 30,752
10 Loans to depository institutions 768 60
11 Primary credit 686 4
12 Secondary credit 0 0
13 Seasonal credit 82 56
14 Float -525 302
15 Other Federal Reserve assets 38,812 41,011
16 Gold stock 11,044 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,032 34,925 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 693,282 690,993 (r)
20 Reverse repurchase agreements (6) 22,080 21,073
21 Foreign official and international
accounts 22,080 21,073
22 Dealers 0 0
23 Treasury cash holding 365 349
24 Deposits with Federal Reserve Banks,
other than reserve balances 19,222 18,876
25 U.S. Treasury, general account 6,939 7,199
26 Foreign official 898 122
27 Service-related 11,136 11,291
28 Required clearing balances 10,838 10,882
29 Adjustments to compensate for float 297 409
30 Other 249 264
31 Other liabilities and capital 19,898 20,053
32 Reserve balances with Federal Reserve
Banks (7) 16,364 16,895
Wednesday figures
Factor 2003
May 21 May 28
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 713,790 722,207
2 Securities held outright 650,735 650,869
3 U.S.Treasury (2) 650,725 650,859
4 Bills (3) 237,568 237,683
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,489 1,508
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 26,251 32,000
10 Loans to depository institutions 55 62
11 Primary credit 1 0
12 Secondary credit 0 0
13 Seasonal credit 54 62
14 Float -1,050 1,172
15 Other Federal Reserve assets 37,800 38,103
16 Gold stock 11,043 11,043
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 34,942 (r) 34,959 (r)
ABSORBING RESERVE FUNDS
19 Currency in circulation 691,948 (r) 694,835 (r)
20 Reverse repurchase agreements (6) 20,709 21,857
21 Foreign official and international
accounts 20,709 21,857
22 Dealers 0 0
23 Treasury cash holding 356 375
24 Deposits with Federal Reserve Banks,
other than reserve balances 19,262 16,302 (r)
25 U.S. Treasury, general account 7,608 4,825
26 Foreign official 126 129
27 Service-related 11,280 11,104 (r)
28 Required clearing balances 10,819 10,819 (r)
29 Adjustments to compensate for float 461 285
30 Other 247 243
31 Other liabilities and capital 19,968 19,818
32 Reserve balances with Federal Reserve
Banks (7) 9,731 17,222 (r)
Wednesday figures
Factor 2003
June 4 June 11
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 708,863 722,077
2 Securities held outright 651,413 651,613
3 U.S.Treasury (2) 651,403 651,603
4 Bills (3) 238,223 238,430
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,512 1,505
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 19,000 32,500
10 Loans to depository institutions 65 65
11 Primary credit 7 0
12 Secondary credit 0 0
13 Seasonal credit 58 64
14 Float 308 -691
15 Other Federal Reserve assets 38,078 38,591
16 Gold stock 11,044 11,044
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 34,976 34,990
ABSORBING RESERVE FUNDS
19 Currency in circulation 693,763 693,073
20 Reverse repurchase agreements (6) 21,673 21,211
21 Foreign official and international
accounts 20,423 21,211
22 Dealers 1,250 0
23 Treasury cash holding 385 381
24 Deposits with Federal Reserve Banks,
other than reserve balances 17,448 17,221
25 U.S. Treasury, general account 6,126 6,031
26 Foreign official 77 80
27 Service-related 11,003 10,878
28 Required clearing balances 10,832 10,832
29 Adjustments to compensate for float 170 45
30 Other 243 233
31 Other liabilities and capital 19,836 20,119
32 Reserve balances with Federal Reserve
Banks (7) 3,978 18,306
Wednesday figures
Factor 2003
June 18 June 25
SUPPLYING RESERVE FUNDS
1 Reserve Bank credit outstanding 714,955 723,424
2 Securities held outright 651,932 652,003
3 U.S.Treasury (2) 651,922 651,993
4 Bills (3) 238,756 238,835
5 Notes and bonds, nominal (3) 398,853 398,853
6 Notes and bonds,
inflation-indexed (3) 12,814 12,814
7 Inflation compensation (4) 1,498 1,491
8 Federal agency (3) 10 10
9 Repurchase agreements (5) 23,000 32,000
10 Loans to depository institutions 86 95
11 Primary credit 3 3
12 Secondary credit 0 0
13 Seasonal credit 83 92
14 Float 1,131 323
15 Other Federal Reserve assets 38,806 39,003
16 Gold stock 11,044 11,044
17 Special drawing rights certificate
account 2,200 2,200
18 Treasury currency outstanding 35,004 35,018
ABSORBING RESERVE FUNDS
19 Currency in circulation 692,509 692,685
20 Reverse repurchase agreements (6) 22,901 21,592
21 Foreign official and international
accounts 20,651 21,592
22 Dealers 2,250 0
23 Treasury cash holding 368 365
24 Deposits with Federal Reserve Banks,
other than reserve balances 19,499 16,987
25 U.S. Treasury, general account 8,086 5,306
26 Foreign official 96 404
27 Service-related 11,088 11,056
28 Required clearing balances 10,830 10,830
29 Adjustments to compensate for float 258 226
30 Other 229 220
31 Other liabilities and capital 19,937 20,021
32 Reserve balances with Federal Reserve
Banks (7) 7,990 20,036
1. Amounts of vault cash held as reserves are shown in table 1.12, line
2. Includes securities lent to dealers, which are fully collateralized
by other U.S. Treasury securities.
3. Face value of the securities.
4. Compensation that adjusts for the effect of inflation on the
original face value of inflation-indexed securities.
5. Cash value of agreements, which are fully collateralized by U.S.
Treasury and federal agency securities.
6. Cash value of agreements, which are fully collateralized by U.S.
Treasury securities.
7. Excludes required clearing balances and adjustments to compensate
for float.
1.12 RESERVES AND BORROWINGS Depository Institutions (1)
Millions of dollars
Prorated monthly
averages of biweekly
averages
2000 2001 2002
Reserve classification
Dec. Dec. Dec.
1 Reserve balances with Reserve
Banks (2) 7,022 9,053 9,926
2 Total vault cash (3) 45,246 43,918 43,368
3 Applied vault cash (4) 31,451 32,024 30,347
4 Surplus vault cash (5) 13,795 11,894 13,021
5 Total reserves (6) 38,473 41,077 40,274
6 Required reserves 37,046 39,428 38,264
7 Excess reserve balances at Reserve
Banks (7) 1,427 1,649 2,009
8 Total borrowing at Reserve Banks 210 67 80
9 Primary ... ... ...
10 Secondary ... ... ...
11 Seasonal 111 33 45
12 Adjustment 99 34 35
Prorated monthly
averages of
biweekly averages
2002 2003
Reserve classification
Dec. Jan.
1 Reserve balances with Reserve
Banks (2) 9,926 10,075
2 Total vault cash (3) 43,368 46,208 (r)
3 Applied vault cash (4) 30,347 32,794
4 Surplus vault cash (5) 13,021 13,414 (r)
5 Total reserves (6) 40,274 42,869
6 Required reserves 38,264 41,162
7 Excess reserve balances at Reserve
Banks (7) 2,009 1,707
8 Total borrowing at Reserve Banks 80 27
9 Primary ... 12
10 Secondary ... 0
11 Seasonal 45 13
12 Adjustment 35 2
Prorated monthly
averages of biweekly
averages
2003
Reserve classification
Feb. Mar.
1 Reserve balances with Reserve
Banks (2) 9,860 9,840
2 Total vault cash (3) 45,941 (r) 43,087 (r)
3 Applied vault cash (4) 32,079 30,757
4 Surplus vault cash (5) 13,862 (r) 12,330 (r)
5 Total reserves (6) 41,939 40,597
6 Required reserves 39,973 38,961
7 Excess reserve balances at Reserve
Banks (7) 1,965 1,636
8 Total borrowing at Reserve Banks 25 22
9 Primary 21 14
10 Secondary 0 0
11 Seasonal 5 8
12 Adjustment ... ...
Prorated monthly
averages of biweekly
averages
2003
Reserve classification
Apr. May (r)
1 Reserve balances with Reserve
Banks (2) 10,598 11,405
2 Total vault cash (3) 41,990 (r) 41,635
3 Applied vault cash (4) 30,574 30,395
4 Surplus vault cash (5) 11,416 (r) 11,240
5 Total reserves (6) 41,172 41,801
6 Required reserves 39,640 40,182
7 Excess reserve balances at Reserve
Banks (7) 1,532 1,619
8 Total borrowing at Reserve Banks 29 55
9 Primary 8 3
10 Secondary 0 0
11 Seasonal 21 53
12 Adjustment ... ...
Prorated Biweekly
monthly averages of
averages daily figures
of bi- for two-week
weekly periods ending
averages on dates
indicated
2003
Reserve classification
June Mar. 5
1 Reserve balances with Reserve
Banks (2) 11,299 10,781
2 Total vault cash (3) 41,960 43,569 (r)
3 Applied vault cash (4) 30,574 32,043
4 Surplus vault cash (5) 11,385 11,526 (r)
5 Total reserves (6) 41,874 42,824
6 Required reserves 40,018 41,221
7 Excess reserve balances at Reserve
Banks (7) 1,856 1,603
8 Total borrowing at Reserve Banks 161 21
9 Primary 87 17
10 Secondary 0 0
11 Seasonal 74 5
12 Adjustment ... ...
Biweekly averages of
daily figures for
two-week periods ending
on dates indicated
2003
Reserve classification
Mar. 19 Apr. 2
1 Reserve balances with Reserve
Banks (2) 9,502 9,843
2 Total vault cash (3) 42,204 (r) 43,917 (r)
3 Applied vault cash (4) 29,379 31,830
4 Surplus vault cash (5) 12,825 (r) 12,088 (r)
5 Total reserves (6) 38,881 41,672
6 Required reserves 37,215 40,058
7 Excess reserve balances at Reserve
Banks (7) 1,665 1,614
8 Total borrowing at Reserve Banks 32 11
9 Primary 23 3
10 Secondary 0 0
11 Seasonal 9 8
12 Adjustment ... ...
Biweekly averages of
daily figures for
two-week periods ending
on dates indicated
2003
Reserve classification
Apr. 16 Apr. 30
1 Reserve balances with Reserve
Banks (2) 9,452 11,852
2 Total vault cash (3) 41,681 (r) 42,023 (r)
3 Applied vault cash (4) 29,833 31,136
4 Surplus vault cash (5) 11,848 (r) 10,888 (r)
5 Total reserves (6) 39,285 42,987
6 Required reserves 37,784 41,436
7 Excess reserve balances at Reserve
Banks (7) 1,501 1,551
8 Total borrowing at Reserve Banks 33 29
9 Primary 15 2
10 Secondary 0 0
11 Seasonal 18 27
12 Adjustment ... ...
Biweekly averages of
daily figures for
two-week periods ending
on dates indicated
2003
Reserve classification
May 14 May 28
1 Reserve balances with Reserve
Banks (2) 9,772 13,116
2 Total vault cash (3) 41,431 (r) 41,967 (r)
3 Applied vault cash (4) 29,696 31,211
4 Surplus vault cash (5) 11,735 (r) 10,757 (r)
5 Total reserves (6) 39,468 44,326
6 Required reserves 37,924 42,712
7 Excess reserve balances at Reserve
Banks (7) 1,543 1,614
8 Total borrowing at Reserve Banks 51 58
9 Primary 3 2
10 Secondary 0 0
11 Seasonal 48 56
12 Adjustment ... ...
Biweekly averages of
daily figures for
two-week periods ending
on dates indicated
2003
Reserve classification
June 11 (r) June 25
1 Reserve balances with Reserve
Banks (2) 11,050 11,437
2 Total vault cash (3) 41,039 42,302
3 Applied vault cash (4) 29,854 30,798
4 Surplus vault cash (5) 11,185 11,504
5 Total reserves (6) 40,904 42,235
6 Required reserves 38,909 40,631
7 Excess reserve balances at Reserve
Banks (7) 1,994 1,604
8 Total borrowing at Reserve Banks 69 241
9 Primary 7 163
10 Secondary 0 0
11 Seasonal 63 78
12 Adjustment ... ...
Biweekly
averages
of daily
figures
for two-
week
periods
ending
on dates
indicated
2003
Reserve classification
July 9
1 Reserve balances with Reserve
Banks (2) 11,465
2 Total vault cash (3) 43,029
3 Applied vault cash (4) 31,534
4 Surplus vault cash (5) 11,496
5 Total reserves (6) 42,998
6 Required reserves 40,743
7 Excess reserve balances at Reserve
Banks (7) 2,255
8 Total borrowing at Reserve Banks 144
9 Primary 54
10 Secondary 0
11 Seasonal 90
12 Adjustment ...
(1.) Data in this table also appear in the Board's H.3 (502) weekly
statistical release. For ordering address, see inside front cover.
Data are not break-adjusted or seasonally adjusted.
(2.) Excludes required clearing balances and adjustments to compensate
for float and includes off-balanced-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).
1.14 FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit (1)
Federal Reserve
Bank On Effective Previous
8/15/03 date rate
Boston 2.00 6/25/03 2.25
New York [up arrow] 6/25/03 [up arrow]
Philadelphia 6/26/03
Cleveland 6/26/03
Richmond 6/26/03
Atlanta 6/26/03
Chicago 6/26/03
St. Louis 6/26/03
Minneapolis 6/26/03
Kansas City 6/25/03
Dallas [down arrow] 6/26/03 [down arrow]
San Francisco 2.00 6/25/03 2.25
Current and previous levels
Secondary credit (2)
Federal Reserve
Bank On Effective Previous
8/15/03 date rate
Boston 2.50 6/25/03 2.75
New York [up arrow] 6/25/03 [up arrow]
Philadelphia 6/26/03
Cleveland 6/26/03
Richmond 6/26/03
Atlanta 6/26/03
Chicago 6/26/03
St. Louis 6/26/03
Minneapolis 6/26/03
Kansas City 6/25/03
Dallas [down arrow] 6/26/03 [down arrow]
San Francisco 2.50 6/25/03 2.75
Current and previous levels
Seasonal credit (3)
Federal Reserve
Bank On Effective Previous
8/15/03 date rate
Boston 1.05 7/10/03 1.10
New York [up arrow] [up arrow] [up arrow]
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas [down arrow] [down arrow] [down arrow]
San Francisco 1.05 7/10/03 1.10
Range of rates for primary credit
Range (or F.R. Bank Effective date
Effective date level)--All of
F.R. Banks N.Y.
In effect Jan. 9, 2003 2.25 2.25
(beginning of program)
2003-June 25 2.00-2.25 2.00
26 2.00 2.00
In effect August 15, 2003 2.00 2.00
Range of rates for primary credit
Range (or F.R. Bank Effective date
Effective date level)--All of
F.R. Banks N.Y.
In effect Jan. 9, 2003
(beginning of program)
2003-June 25
26
In effect August 15, 2003
Range of rates for primary credit
Range (or F.R. Bank Effective date
Effective date level)--All of
F.R. Banks N.Y.
In effect Jan. 9, 2003
(beginning of program)
2003-June 25
26
In effect August 15, 2003
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, 1995 5.25 5.25
1996-Jan. 31 5.00-5.25 5.00
Feb. 3 5.00 5.00
1998-Oct. 15 4.75-5.00 4.75
16 4.75 4.75
Nov. 17 4.50-4.75 4.50
19 4.50 4.50
1999-Aug. 24 4.50-4.75 4.75
26 4.75 4.75
Nov. 16 4.75-5.00 4.75
18 5.00 5.00
2000-Feb. 2 5.00-5.25 5.25
4 5.25 5.25
Mar. 21 5.25-5.50 5.50
23 5.50 5.50
May 16 5.50-6.00 5.50
19 6.00 6.00
2001-Jan. 3 5.75-6.00 5.75
4 5.50-5.75 5.50
5 5.50 5.50
31 5.00-5.50 5.00
Feb. 1 5.00 5.00
Mar. 20 4.50-5.00 4.50
21 4.50 4.50
Apr. 18 4.00-4.50 4.00
20 4.00 4.00
2001-May 15 3.50-4.00 3.50
17 3.50 3.50
2001-June 27 3.25-3.50 3.25
29 3.25 3.25
Aug. 21 3.00-3.25 3.00
23 3.00 3.00
Sept. 17 2.50-3.00 2.50
18 2.50 2.50
Oct. 2 2.00-2.50 2.00
4 2.00 2.00
Nov. 6 1.50-2.00 1.50
8 1.50 1.50
Dec. 11 1.25-1.50 1.25
13 1.25 1.25
2002-Nov. 6 0.75-1.25 0.75
7 0.75 0.75
In effect Jan. 8, 2003 0.75 0.75
(end of program)
(1.) Available for very short terms as a backup source of liquidity to
depository institutions that are in generally sound financial condition
in the judgment of the lending Federal Reserve Bank.
(2.) Available in appropriate circumstances to depository institutions
that do not qualify for primary credit.
(3.) Available to help relatively small depository institutions meet
regular seasonal needs for funds that arise front a clear pattern of
intra-yearly movements in their deposits and loans and that cannot be
met through special industry lenders. The discount takes into account
rates charged by market sources of funds and ordinarily is
re-established on the first business day of each two-week reserve
maintenance period.
(4.) Was available until January 8, 2003, to help depository
institutions meet temporary needs for funds that could not be
met through reasonable alternative sources. For earlier data.
See the following publications of the Board of Governors: Banking
and Monetary Statistics, 1914-1941, and 1941-1970; and the
Statistical Digest, 1970-1979, 1980-1989, and 1990-1995. See also
the Board's Statistics: Releases and Historical
Data web pages (http://www.federalreserve.gov/releases/H15/data.html).
1.15 RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS (1)
Requirement
Type of deposit Percentage of
deposits Effective date
Net transaction accounts (2)
1 $0 million-$6 million (3) 0 12/26/02
2 More than $6 million-$42.1
million (4) 3 12/26/02
3 More than $42.1 million (5) 10 12/26/02
4 Nonpersonal time deposit (6) 0 12/27/90
5 Eurocurrency liabilities (7) 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.) Under the Garn--St German Depository Institutions Act of 1982, the
Board adjusts the amount of reservable liabilities subject to a zero
reserve requirements 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 requirements. Effective with the reserve maintenance period
beginning December 16, 2003, for institutions that report quarterly,
the exemption was raised from $5.7 million to $6.0 million.
(4.) The Monetary Control Act of 1980 requires that the amount of
transaction accounts against which the 3 percent reserve requirement
applies be modified annually by 80 percent of the percentage change in
transaction accounts held by all depository institutions, determined
as of June 30 of each year. Effective with the reserve maintenance
period beginning December 26, 2002, for depository institutions that
report weekly, and with the period beginning January 16, 2003 for
institutions that report quarterly, the amount was increased from $41.3
million to $42.1 million.
(5.) The reserve requirement was reduced from 12 percent to 10 percent
on April 2, 1992, for institutions that report weekly, and on April 16,
1992, for institutions that report quarterly.
(6.) For institutions that report weekly, the reserve requirements on
nonpersonal time deposits with an original maturity of less than 1.5
years was reduced from 3 percent to 1.5 percent for the maintenance
period that began December 13, 1990, and to zero for the maintenance
period that began DEcember 27, 1990. For institutions that report
quarterly, the reserve requirement on nonpersonal time deposits with
an original maturity of less than 1.5 years was reduced from 3 percent
to zero January 17, 1991.
The reserve requirement on nonpersonal time deposits wish an original
maturity of 1.5 years or more has been zero since October 6, 1983.
(7.) The reserve requirement on eurocurrency liabilities was reduced
from 3 percent to zero in the same manner and on the same dates as
the reserve requirement on nonpersonal time deposits with an original
maturity of less than 1.5 years (see note 5).
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS (1)
Millions of dollars
Type of transaction
and maturity 2000 2001
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 8,676 15,503
2 Gross sales 0 0
3 Exchanges 477,904 542,736
4 For new bills 477,904 542,736
5 Redemptions 24,522 10,095
Others within one year
6 Gross purchase 8,809 15,663
7 Gross sales 0 0
8 Maturity shifts 62,025 70,336
9 Exchanges -54,656 -72,004
10 Redemptions 3,779 16,802
One to five years
11 Gross purchases 14,482 22,814
12 Gross sale 0 0
13 Minors shift -52,068 -45,211
14 Exchanges 46,177 64,519
Five to ten years
15 Gross purchases 5,871 6,003
16 Gross sales 0 0
17 Maturity shifts -6,801 -21,063
15 Exchanges 6,585 6,063
More than ten years
19 Gross purchases 5,833 8,531
20 Gross sale 0 O
21 Maturity shifts -3,155 -4,062
22 Exchanges 1,894 1,423
All maturities
23 Gross purchases 43,670 68,513
24 Gross sales 0 0
25 Redemptions 28,301 26,897
26 Net change in U.S. Treasury securities 15,369 41,616
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0
28 Gross sales 0 0
29 Redemptions 51 120
30 Net change in federal agency obligations -51 -120
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 890,236 1,497,713
32 Gross sales 987,501 1,490,838
Matched sale--purchase agreements
33 Gross purchases 4,415,905 4,722,667
34 Gross sales 4,397,835 4,724,743
Reverse repurchase agreements (4)
35 Gross purchases 0 0
36 Gross sales 0 0
37 Net change in temporary transactions -79,195 4,800
38 Total net change in System Open Market
Account -63,877 46,295
2002
Type of transaction
and maturity 2002 Nov.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 21,421 250
2 Gross sales 0 0
3 Exchanges 657,931 51,394
4 For new bills 657,931 51,394
5 Redemptions 0 0
Others within one year
6 Gross purchase 12,720 0
7 Gross sales 0 0
8 Maturity shifts 89,108 3,688
9 Exchanges -92,075 -1,419
10 Redemptions 0 0
One to five years
11 Gross purchases 12,748 0
12 Gross sale 0 0
13 Minors shift -73,093 -2,380
14 Exchanges 88,276 1,308
Five to ten years
15 Gross purchases 5,074 0
16 Gross sales 0 0
17 Maturity shifts -11,588 722
15 Exchanges 3,800 111
More than ten years
19 Gross purchases 2,280 0
20 Gross sale 0 0
21 Maturity shifts -4,427 -2,030
22 Exchanges 0 0
All maturities
23 Gross purchases 54,242 250
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury securities 54,242 250
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency obligations 0 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 1,143,126 113,501
32 Gross sales 1,153,876 101,501
Matched sale--purchase agreements
33 Gross purchases 4,981,624 378,381
34 Gross sales 4,958,437 377,535
Reverse repurchase agreements (4)
35 Gross purchases 231,272 0
36 Gross sales 252,363 0
37 Net change in temporary transactions -8,653 12,847
38 Total net change in System Open Market
Account 45,589 13,096
2002 2003
Type of transaction
and maturity Dec. Jan.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 0 0
2 Gross sales 0 0
3 Exchanges 53,374 71,075
4 For new bills 53,374 71,075
5 Redemptions 0 0
Others within one year
6 Gross purchase 0 0
7 Gross sales 0 0
8 Maturity shifts 13,448 6,216
9 Exchanges -12,059 -6,834
10 Redemptions 0 0
One to five years
11 Gross purchases 339 0
12 Gross sale 0 0
13 Minors shift -13,448 -6,216
14 Exchanges 12,059 6,834
Five to ten years
15 Gross purchases 314 0
16 Gross sales 0 0
17 Maturity shifts 0 0
15 Exchanges 0 0
More than ten years
19 Gross purchases 0 0
20 Gross sale 0 0
21 Maturity shifts 0 0
22 Exchanges 0 0
All maturities
23 Gross purchases 653 0
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury securities 653 0
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency obligations 0 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 112,750 135,749
32 Gross sales 101,750 150,499
Matched sale--purchase agreements
33 Gross purchases 195,565 0
34 Gross sales 175,820 0
Reverse repurchase agreements (4)
35 Gross purchases 231,272 392,530
36 Gross sales 252,363 389,810
37 Net change in temporary transactions 9,654 -12,029
38 Total net change in System Open Market
Account 10,307 -12,029
2003
Type of transaction
and maturity Feb. Mar.
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 4,161 1,863
2 Gross sales 0 0
3 Exchanges 53,860 47,424
4 For new bills 53,860 47,424
5 Redemptions 0 0
Others within one year
6 Gross purchase 478 1,318
7 Gross sales 0 0
8 Maturity shifts 3,214 8,334
9 Exchanges -13,313 -8,211
10 Redemptions 0 0
One to five years
11 Gross purchases 2,127 710
12 Gross sale 0 0
13 Minors shift 2,160 -8,334
14 Exchanges 11,817 8,211
Five to ten years
15 Gross purchases 769 522
16 Gross sales 0 0
17 Maturity shifts -3,877 0
15 Exchanges 1,497 0
More than ten years
19 Gross purchases 0 50
20 Gross sale 0 0
21 Maturity shifts -1,497 0
22 Exchanges 0 0
All maturities
23 Gross purchases 7,534 4,463
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury securities 7,534 4,463
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency obligations 0 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 121,896 95,001
32 Gross sales 119,746 90,151
Matched sale--purchase agreements
33 Gross purchases 0 0
34 Gross sales 0 0
Reverse repurchase agreements (4)
35 Gross purchases 343,748 388,069
36 Gross sales 343,395 389,469
37 Net change in temporary transactions 2 2,200
38 Total net change in System Open Market
Account 7,537 6,664
2003
Type of transaction
and maturity Apr. May
U.S. TREASURY SECURITIES (2)
Outright transactions
Treasury bills
1 Gross purchases 3,543 1,684
2 Gross sales 0 0
3 Exchanges 51,834 76,354
4 For new bills 51,834 76,354
5 Redemptions 0 0
Others within one year
6 Gross purchase 1,422 786
7 Gross sales 0 0
8 Maturity shifts 8,333 7,228
9 Exchanges -7,293 -6,999
10 Redemptions 0 0
One to five years
11 Gross purchases 733 1,057
12 Gross sale 0 0
13 Minors shift -8,333 -1,513
14 Exchanges 7,293 6,747
Five to ten years
15 Gross purchases 0 234
16 Gross sales 0 0
17 Maturity shifts 0 -5,463
15 Exchanges 0 252
More than ten years
19 Gross purchases 0 0
20 Gross sale 0 0
21 Maturity shifts 0 -252
22 Exchanges 0 0
All maturities
23 Gross purchases 5,699 3,761
24 Gross sales 0 0
25 Redemptions 0 0
26 Net change in U.S. Treasury securities 5,699 3,761
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases 0 0
28 Gross sales 0 0
29 Redemptions 0 0
30 Net change in federal agency obligations 0 0
TEMPORARY TRANSACTIONS
Repurchase agreements (3)
31 Gross purchases 112,251 124,741
32 Gross sales 106,500 132,102
Matched sale--purchase agreements
33 Gross purchases 0 0
34 Gross sales 0 0
Reverse repurchase agreements (4)
35 Gross purchases 451,149 441,555
36 Gross sales 452,545 443,025
37 Net change in temporary transactions 2,104 -8,731
38 Total net change in System Open Market
Account 7,803 -4,971
(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 in nation-indexed securities.
Transactions include the rollover of inflation compensation into new
securities.
(3.) Cash value of agreements, which are collateralized by U.S.
government and federal agency obligations.
(4.) Cash value of agreements, which are collateralized by U.S.
Treasury securities.
1.18 FEDERAL RESERVE BANKS Condition and Federal Reserve Note
Statements (1)
Million of dollars
Wednesday
Account 2003
May 28 June 4
Consolidated condition
statement
ASSETS
1 Gold certificate account 11,039 11,040
2 Special drawing rights certificate account 2,200 2,200
3 Coin 920 909
4 Securities, repurchase agreement, and loans 682,931 670,477
5 Securities held outright 650,869 651,413
6 U.S. Treasury (2) 650,859 651,403
7 Bills (3) 237,683 239,223
8 Notes and bonds, nominal (3) 398,853 398,853
9 Notes and bonds, inflation-
indexed (3) 12,814 12,814
10 Inflation compensation (4) 1,508 1,512
11 Federal agency (3) 10 10
12 Repurchase agreements (5) 32,000 19,000
13 Loans 62 65
14 Items in process of collection 10,632 9,883
15 Bank premises 1,581 1,579
16 Other asset 36,514 36,505
17 Denominated in foreign currencies (6) 18,108 18,093
18 All other (7) 18,405 18,412
19 Total assets 745,817 732,594
LIABILITIES
20 Federal Reserve notes, net of F.R. Bank
holdings 661,167 660,078
21 Reverse repurchase agreements (8) 21,857 21,673
22 Deposits 33,558 22,192
23 Depository institutions 28,360 15,747
24 U.S. Treasury general account 4,825 6,126
25 Foreign official 129 77
26 Other 243 243
27 Deferred availability cash items 9,417 8,815
28 Other liabilities and accrued dividends
(8) 2,326 2,305
29 Total liabilities 728,326 715,063
CAPITAL ACCOUNTS
30 Capital paid in 8,574 8,584
31 Surplus 8,380 8,380
32 Other capital accounts 537 566
33 Total capital 17,491 17,530
MEMO
34 Marketable securities held in custody for
foreign official and international
accounts (3,10) 928,892 935,950
35 U.S. Treasury 741,441 747,892
36 Federal agency 187,451 188,059
37 Securities lent to dealers 1,661 (r) 656
Federal Reserve notes
and collateral
statement
38 Federal Reserve notes outstanding 760,695 (r) 761,219
39 Less: Notes held by F.R. Banks not
subject to collateralization 95,376 (r) 97,120
40 Federal Reserve notes to be
collateralized 665,319 (r) 664,099
41 Collateral held against Federal Reserve
notes 665,319 (r) 664,099
42 Gold certificate account 11,039 (r) 11,040
43 Special drawing rights certificate
account 2,200 (r) 2,200
44 U.S. Treasury and agency securities
pledged (11) 652,080 (r) 648,732
45 Other eligible assets 0 (r) 2,127
MEMO
46 Total U.S. Treasury and agency
securities (11) 682,869 670,413
47 Less: face value of securities under
reverse repurchase agreements (12) 21,863 21,680
48 U.S. Treasury and agency securities
eligible to be pledged 661,006 648,732
Wednesday
Account 2003
June 11 June 18
Consolidated
condition
statement
ASSETS
1 Gold certificate account 11,040 11,040
2 Special drawing rights certificate account 2,200 2,200
3 Coin 926 937
4 Securities, repurchase agreement, and loans 684,177 675,017
5 Securities held outright 651,613 651,932
6 U.S. Treasury (2) 651,603 651,922
7 Bills (3) 238,430 238,756
8 Notes and bonds, nominal (3) 398,853 398,853
9 Notes and bonds, inflation-
indexed (3) 12,814 12,814
10 Inflation compensation (4) 1,505 1,498
11 Federal agency (3) 10 10
12 Repurchase agreements (5) 32,500 23,000
13 Loans 65 86
14 Items in process of collection 7,231 8,832
15 Bank premises 1,579 1,58
16 Other asset 371,110 37,243
17 Denominated in foreign currencies (6) 18,208 18,118
18 All other (7) 18,802 19,125
19 Total assets 744,164 736,850
LIABILITIES
20 Federal Reserve notes, net of F.R. Bank
holdings 659,386 658,805
21 Reverse repurchase agreements (8) 21,211 22,901
22 Deposits 35,693 27,211
23 Depository institutions 29,349 18,800
24 U.S. Treasury general account 6,031 8,086
25 Foreign official 80 96
26 Other 233 229
27 Deferred availability cash items 7,755 7,996
28 Other liabilities and accrued dividends
(8) 2,355 2,326
29 Total liabilities 726,400 719,239
CAPITAL ACCOUNTS
30 Capital paid in 8,656 8,657
31 Surplus 8,380 8,380
32 Other capital accounts 728 574
33 Total capital 17,764 17,611
MEMO
34 Marketable securities held in custody for
foreign official and international
accounts (3,10) 936,154 934,711
35 U.S. Treasury 749,192 751,560
36 Federal agency 186,962 183,151
37 Securities lent to dealers 318 792
Federal Reserve
notes and
collateral
statement
38 Federal Reserve notes outstanding 762,447 763,602
39 Less: Notes held by F.R. Banks not
subject to collateralization 98,811 100,588
40 Federal Reserve notes to be
collateralized 663,636 663,014
41 Collateral held against Federal Reserve
notes 663,636 663,014
42 Gold certificate account 11,040 11,040
43 Special drawing rights certificate
account 2,200 2,200
44 U.S. Treasury and agency securities
pledged (11) 650,396 649,774
45 Other eligible assets 0 0
MEMO
46 Total U.S. Treasury and agency
securities (11) 684,113 674,932
47 Less: face value of securities under
reverse repurchase agreements (12) 21,222 22,908
48 U.S. Treasury and agency securities
eligible to be pledged 662,891 652,023
End of
Wednesday month
Account 2003
June 25 Apr.
Consolidated
condition
statement
ASSETS
1 Gold certificate account 11,040 11,039
2 Special drawing rights certificate account 2,200 2,200
3 Coin 941 1,021
4 Securities, repurchase agreement, and loans 684,099 684,817
5 Securities held outright 652,003 647,281
6 U.S. Treasury (2) 651,993 647,271
7 Bills (3) 238,835 236,249
8 Notes and bonds, nominal (3) 398,853 396,776
9 Notes and bonds, inflation-
indexed (3) 12,814 12,814
10 Inflation compensation (4) 1,491 1,431
11 Federal agency (3) 10 10
12 Repurchase agreements (5) 32,100 37,501
13 Loans 95 35
14 Items in process of collection 7,461 8,173
15 Bank premises 1,582 1,577
16 Other asset 37,607 38,412
17 Denominated in foreign currencies (6) 18,079 17,579
18 All other (7) 19,528 20,832
19 Total assets 744,931 747,239
LIABILITIES
20 Federal Reserve notes, net of F.R. Bank
holdings 658,969 655,226
21 Reverse repurchase agreements (8) 21,592 20,814
22 Deposits 36,986 43,007
23 Depository institutions 31,055 31,880
24 U.S. Treasury general account 5,306 10,583
25 Foreign official 404 313
26 Other 220 231
27 Deferred availability cash items 7,363 8,142
28 Other liabilities and accrued dividends
(8) 2,382 2,270
29 Total liabilities 727,292 729,460
CAPITAL ACCOUNTS
30 Capital paid in 8,657 8,545
31 Surplus 8,380 8,380
32 Other capital accounts 601 854
33 Total capital 17,639 17,779
MEMO
34 Marketable securities held in custody for
foreign official and international
accounts (3,10) 931,901 893,534
35 U.S. Treasury 748,986 713,499
36 Federal agency 182,915 180,035
37 Securities lent to dealers 1,497 731
Federal Reserve
notes and
collateral
statement
38 Federal Reserve notes outstanding 765,633 762,034
39 Less: Notes held by F.R. Banks not
subject to collateralization 102,310 102,753
40 Federal Reserve notes to be
collateralized 663,323 659,280
41 Collateral held against Federal Reserve
notes 663,323 659,28
42 Gold certificate account 11,040 11,039
43 Special drawing rights certificate
account 2,200 2,200
44 U.S. Treasury and agency securities
pledged (11) 650,083 646,042
45 Other eligible assets 0 0
MEMO
46 Total U.S. Treasury and agency
securities (11) 684,003 684,782
47 Less: face value of securities under
reverse repurchase agreements (12) 21,597 20,821
48 U.S. Treasury and agency securities
eligible to be pledged 662,406 663,961
End of month
Account 2003
May June
Consolidated
condition
statement
ASSETS
1 Gold certificate account 11,040 11,040
2 Special drawing rights certificate account 2,200 2,200
3 Coin 924 942
4 Securities, repurchase agreement, and loans 681,447 684,646
5 Securities held outright 651,127 652,128
6 U.S. Treasury (2) 651,117 652,118
7 Bills (3) 237,933 238,965
8 Notes and bonds, nominal (3) 398,853 398,853
9 Notes and bonds, inflation-
indexed (3) 12,814 12,814
10 Inflation compensation (4) 1,517 1,485
11 Federal agency (3) 10 10
12 Repurchase agreements (5) 30,240 31,750
13 Loans 80 768
14 Items in process of collection 5,684 2,330
15 Bank premises 1,579 1,580
16 Other asset 36,689 37,195
17 Denominated in foreign currencies (6) 18,080 17,849
18 All other (7) 18,609 19,346
19 Total assets 739,563 739,932
LIABILITIES
20 Federal Reserve notes, net of F.R. Bank
holdings 658,674 659,552
21 Reverse repurchase agreements (8) 22,285 22,080
22 Deposits 32,470 35,806
23 Depository institutions 25,669 27,720
24 U.S. Treasury general account 6,505 6,939
25 Foreign official 79 898
26 Other 217 249
27 Deferred availability cash items 6,161 2,596
28 Other liabilities and accrued dividends
(8) 2,329 2,227
29 Total liabilities 721,919 722,262
CAPITAL ACCOUNTS
30 Capital paid in 8,575 8,657
31 Surplus 8,380 8,356
32 Other capital accounts 689 657
33 Total capital 17,644 17,670
MEMO
34 Marketable securities held in custody for
foreign official and international
accounts (3,10) 931,570 949,930
35 U.S. Treasury 741,378 760,406
36 Federal agency 190,191 185,924
37 Securities lent to dealers 597 4,950
Federal Reserve
notes and
collateral
statement
38 Federal Reserve notes outstanding 760,717 766,845
39 Less: Notes held by F.R. Banks not
subject to collateralization 97,928 102,691
40 Federal Reserve notes to be
collateralized 662,789 664,155
41 Collateral held against Federal Reserve
notes 662,789 664,155
42 Gold certificate account 11,140 11,040
43 Special drawing rights certificate
account 2,200 2,200
44 U.S. Treasury and agency securities
pledged (11) 649,549 650,915
45 Other eligible assets 0 0
MEMO
46 Total U.S. Treasury and agency
securities (11) 681,367 683,878
47 Less: face value of securities under
reverse repurchase agreements (12) 22,295 22,086
48 U.S. Treasury and agency securities
eligible to be pledged 659,072 661,792
(1.) Some of the data in this table also appear in the Board's H.4.1
(503) weekly statistical release. For ordering address, see inside
front cover.
(2.) Includes securities lent to dealers, which are fully
collateralized by other U.S. Treasury securities.
(3.) Face value of the securities.
(4.) Compensation that adjusts for the effect of inflation on the
original face value of inflation-indexed securities.
(5.) Cash value of agreements, which are fully collateralized by U.S.
Treasury and federal agency securities.
(6.) Valued daily at market exchange rates.
(7.) Includes special investment account at the Federal Reserve Bank of
Chicago in Treasury bills maturing within ninety days.
(8.) Cash value of agreements, which are fully collateralized by U.S.
Treasury securities.
(9.) Includes exchange-translation account reflecting the daily
revaluation at market exchange rates of foreign exchange commitments.
(10). Includes U.S. Treasury STRIPS and other zero coupon bonds at face
value.
(11.) Includes face value of U.S. Treasury and agency securities held
outright compensation to adjust for the effect of inflation on the
original face value of inflation-indexed securities, and cash value at
repurchase agreements.
(12.) Face value of agreements, which are fully collateralized by U.S.
Treasury securities.
1.19 FEDERAL RESERVE BANKS Maturity Distribution of Loans and Securities
Millions of dollars
Wednesday
Type of holding and maturity 2003
May 28 June 4 June 11
1 Total loans 62 65 65
2 Within 15 class 49 23 20
3 16 days to 90 days 14 41 45
4 91 days to 1 year 0 0 0
5 Total U.S. Treasury securities (1) 650,859 651,403 651,603
6 Within 15 days 51,749 45,801 45,561
7 16 days to 90 days 138,094 143,909 143,282
8 91 days to 1 year 153,894 154,845 155,918
9 Over 1 year to 5 years 180,470 180,193 180,191
10 Over 5 years to 10 years 46,669 46,670 46,668
11 Over 10 years 79,983 79,985 79,982
12 Total federal agency securities 10 10 10
13 Within 15 days 0 0 0
14 16 days to 90 days 0 0 0
15 91 days to 1 year 10 10 10
16 Over 1 year to 5 years 0 0 0
17 Over 5 years to 10 years 0 0 0
18 Over 10 years 0 0 0
19 Total repurchase agreements (2) 32,000 19,000 32,500
20 Within 15 days 29,000 14,000 27,500
21 16 days to 90 days 3,000 5,000 5,000
22 Total reverse repurchase agreements
(2) 21,857 21,673 21,211
23 Within 15 days 21,857 21,673 21,211
24 16 days to 90 days 0 0 0
End of
Wednesday month
Type of holding and maturity 2003
June 18 June 25 Apr.
1 Total loans 86 95 35
2 Within 15 class 72 85 28
3 16 days to 90 days 13 10 7
4 91 days to 1 year 0 0 0
5 Total U.S. Treasury securities (1) 651,922 651,993 647,271
6 Within 15 days 51,004 49,024 46,750
7 16 days to 90 days 137,572 139,395 126,284
8 91 days to 1 year 156,513 156,748 153,916
9 Over 1 year to 5 years 180,189 180,187 188,832
10 Over 5 years to 10 years 46,665 46,663 51,538
11 Over 10 years 79,979 79,976 79,952
12 Total federal agency securities 10 10 10
13 Within 15 days 0 0 0
14 16 days to 90 days 0 0 0
15 91 days to 1 year 10 10 10
16 Over 1 year to 5 years 0 0 0
17 Over 5 years to 10 years 0 0 0
18 Over 10 years 0 0 0
19 Total repurchase agreements (2) 23,000 32,000 37,501
20 Within 15 days 17,000 29,000 33,500
21 16 days to 90 days 6,000 3,000 4,001
22 Total reverse repurchase agreements
(2) 22,901 21,592 20,814
23 Within 15 days 22,901 21,592 20,814
24 16 days to 90 days 0 0 0
End of month
Type of holding and maturity 2003
May June
1 Total loans 80 768
2 Within 15 class 66 752
3 16 days to 90 days 14 16
4 91 days to 1 year 0 0
5 Total U.S. Treasury securities (1) 651,117 652,118
6 Within 15 days 36,449 27,419
7 16 days to 90 days 153,457 153,840
8 91 days to 1 year 154,081 157,337
9 Over 1 year to 5 years 180,472 186,886
10 Over 5 years to 10 years 46,672 46,661
11 Over 10 years 79,987 79,974
12 Total federal agency securities 10 10
13 Within 15 days 0 0
14 16 days to 90 days 0 0
15 91 days to 1 year 10 10
16 Over 1 year to 5 years 0 0
17 Over 5 years to 10 years 0 0
18 Over 10 years 0 0
19 Total repurchase agreements (2) 30,240 31,750
20 Within 15 days 22,240 23,750
21 16 days to 90 days 8,000 8,000
22 Total reverse repurchase agreements
(2) 22,285 22,080
23 Within 15 days 22,285 22,080
24 16 days to 90 days 0 0
Note. Components may not sum to totals because of rounding.
(1.) Include the original face value of inflation-indexed securities
and compensation that adjusts for the effect of inflation on the
original face value of such securities.
(2.) Cash value of agreements classified by remaining maturity of the
agreements.
1.20 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY
BASE (1)
Billions of dollars, average of daily figures
1999 2000 2001
Item Dec. Dec. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANCES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 41.81 38.54 41.24
2 Nonborrowed reserves (4) 41.49 38.33 41.18
3 Required reserves 40.51 37.11 39.60
4 Monetary base (5) 593.16 584.77 635.62
Not seasonally adjusted
5 Total reserves (6) 41.89 38.53 41.20
6 Nonborrowed reserves 41.57 38.32 41.13
7 Required reserves (7) 40.59 37.10 39.55
8 Monetary base (8) 600.72 590.06 639.91
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.65 38.47 41.08
10 Nonborrowed reserves 41.33 38.26 41.01
11 Required reserves 40.36 37.05 39.43
12 Monetary bases (11) 608.02 596.98 648.74
13 Excess reserves (12) 1.30 1.43 1.65
14 Borrowing from the Federal Reserve .32 .21 .07
2002
2002
Item Dec. Nov. Dec.
Seasonally adjusted
ADJUSTED FOR
CHANCES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.22 39.76 40.22
2 Nonborrowed reserves (4) 40.14 39.49 40.14
3 Required reserves 38.21 38.12 38.21
4 Monetary base (5) 681.90 677.61 681.90
Not seasonally adjusted
5 Total reserves (6) 40.13 39.05 40.13
6 Nonborrowed reserves 40.05 38.78 40.05
7 Required reserves (7) 38.12 37.42 38.12
8 Monetary base (8) 686.23 676.72 686.23
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 40.27 39.21 40.27
10 Nonborrowed reserves 40.19 38.94 40.19
11 Required reserves 38.26 37.58 38.26
12 Monetary bases (11) 697.15 687.29 697.15
13 Excess reserves (12) 2.01 1.64 2.01
14 Borrowing from the Federal Reserve .08 .27 .08
2003 2003
Item Jan. Feb. Mar.
Seasonally adjusted
ADJUSTED FOR
CHANCES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.73 40.82 40.97
2 Nonborrowed reserves (4) 40.70 40.80 40.95
3 Required reserves 39.02 38.86 39.34
4 Monetary base (5) 685.72 691.31 695.14
Not seasonally adjusted
5 Total reserves (6) 42.85 41.94 40.60
6 Nonborrowed reserves 42.83 41.91 40.57
7 Required reserves (7) 41.15 39.97 38.96
8 Monetary base (8) 688.33 690.25 693.91
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 42.87 41.94 40.60
10 Nonborrowed reserves 42.84 41.91 40.58
11 Required reserves 41.16 39.97 38.96
12 Monetary bases (11) 699.25 701.04 705.04
13 Excess reserves (12) 1.71 1.97 1.64
14 Borrowing from the Federal Reserve .03 .03 .02
2003
Item Apr. May
Seasonally adjusted
ADJUSTED FOR
CHANCES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 40.81 40.99
2 Nonborrowed reserves (4) 40.78 40.93
3 Required reserves 39.27 39.37
4 Monetary base (5) 698.23 (r) 701.18 (r)
Not seasonally adjusted
5 Total reserves (6) 41.16 41.79
6 Nonborrowed reserves 41.14 41.73
7 Required reserves (7) 39.63 40.17
8 Monetary base (8) 697.83 (r) 701.58 (r)
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.17 41.80
10 Nonborrowed reserves 41.14 41.75
11 Required reserves 39.64 40.18
12 Monetary bases (11) 709.10 (r) 712.76 (r)
13 Excess reserves (12) 1.53 1.62
14 Borrowing from the Federal Reserve .03 .06
2003
Item June
Seasonally
adjusted
ADJUSTED FOR
CHANCES IN RESERVE REQUIREMENTS (2)
1 Total reserves (3) 42.80
2 Nonborrowed reserves (4) 42.64
3 Required reserves 40.94
4 Monetary base (5) 703.16
Not
seasonally
adjusted
5 Total reserves (6) 41.86
6 Nonborrowed reserves 41.70
7 Required reserves (7) 40.00
8 Monetary base (8) 703.32
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS (9)
9 Total reserves (10) 41.87
10 Nonborrowed reserves 41.71
11 Required reserves 40.02
12 Monetary bases (11) 714.35
13 Excess reserves (12) 1.86
14 Borrowing from the Federal Reserve .16
(1.) Latest monthly and biweekly figures are available from the Board's
H.3 (502) weekly statistical release. Historical data starting in 1959
and estimates of the effect on required reserves of changes in reserve
requirements are available from the Money and Reserves Projections
Section, Division of Monetary Affairs, Board of Governors of the
Federal Reserve System, Washington, DC 20551.
(2.) Figures reflect adjustments for discontinuities, or "breaks,"
associated with regulatory changes in reserve requirements. (See also
table 1.10.)
(3.) Seasonally adjusted, break-adjusted total reserves equal
seasonally adjusted, break-adjusted required reserves (line 4) plus
excess reserves (line 16).
(4.) Seasonally adjusted, break-adjusted nonborrowed reserves equal
seasonally adjusted, break-adjusted total reserves (line 1) few total
borrowings of depository institutions from the Federal Reserve (line
17).
(5.) The seasonally adjusted, break-adjusted monetary base consists of
(1) seasonally adjusted, break-adjusted total reserve (line 1), plus
(2) the seasonally adjusted currency component of the money stock,
plus (3) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
seasonally adjusted, break-adjusted difference between current vault
cash and the amount applied to satisfy current reserve requirements.
(6.) Break-adjusted total reserves equal break-adjusted required
reserves (line 9) plus excess reserves (line 16).
(7.) To adjust required reserves for discontinuities that are due to
regulatory changes in reserve requirements, a multiplicative procedure
is used to estimate what required reserves would have been in past
periods had current reserve requirements been in effect.
Break-adjusted required reserves include required reserves against
transactions deposits and nonpersonal time and savings deposits (but
not reservable nondeposit liabilities).
(8.) The break-adjusted monetary base equals (1) break-adjusted total
reserves (line 6), plus (2) the (unadjusted) currency component of the
money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those
weekly reporters whose vault cash exceeds their required reserves) the
break-adjusted difference between current vault cash and the amount
applied to satisfy current reserve requirements.
(9.) Reflects actual reserve requirements, including those on
nondeposit liabilities, with no adjustments to eliminate the effects
of discontinuities associated with regulatory changes in reserve
requirements.
(10.) Reserve balances with Federal Reserve Banks plus vault cash used
to satisfy reserve requirements.
(11.) The monetary base, not break-adjusted and not seasonally
adjusted, consists of (1) total reserves (line 11), plus (2) required
clearing balances and adjustments to compensate for float at Federal
Reserve Banks, plus (3) the currency component of the money stock,
plus (4) (for all quarterly reporters on the "Report of Transaction
Accounts, Other Deposits and Vault Cash" and for all those weekly
reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to satisfy
current reserve requirements. Since February 1984, currency and vault
cash figures have been measured over the computation periods ending on
Mondays.
(12.) Unadjusted total reserves (line 11) less unadjusted required
reserves (line 14).
1.21 MONEY STOCK MEASURES (1)
Billions of dollars, average of daily figures
1999 2000
Item Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,121.4 1,084.7
2 M2 4,649.7 4,931.3
3 M3 6,534.9 7,099.2
M1 components
4 Currency (3) 517.7 531.5
5 Travelers checks (4) 8.3 8.0
6 Demand deposits (5) 352.1 306.9
7 Other checkable deposits (6) 243.4 238.2
Nontransaction components
8 In M2 (7) 3,528.3 3,846.7
9 In M3 only (8) 1,885.1 2,167.9
Commercial banks
10 Savings deposits, including MMDAs 1,288.9 1,422.9
11 Small time deposits (9) 634.6 699.5
12 Large time deposit (10,11) 652.2 718.3
Thrift institutions
13 Savings deposits including MMDAs 452.0 454.3
14 Small time deposits (9) 319.5 344.8
15 Large time deposits (10) 91.9 103.0
Money market mutual funds
16 Retail 833.4 925.2
17 Institution-only 634.8 788.8
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 335.7 363.5
19 Eurodollars (12) 170.5 194.3
Not seasonally adjusted
Measures (2)
20 M1 1,147.8 1,112.1
21 M2 4,676.8 4,966.7
22 M3 6,577.5 7,153.8
M1 components
23 Currency (3) 521.7 535.6
24 Travelers checks (4) 8.4 8.1
25 Demand deposits (5) 371.7 326.7
26 Other checkable deposits (6) 246.0 241.6
Nontransaction components
27 In M2 (7) 3,529.0 3,854.7
28 In M3 only (8) 1,900.7 2,187.1
Commercial banks
29 Savings deposits, including MMDAs 1,289.7 1,427.5
30 Small time deposits (9) 635.6 700.6
31 Large time deposits (10,11) 653.6 718.5
Thrift institutions
32 Savings deposits, including MMDAs 451.9 455.8
33 Small time deposit (9) 320.0 345.4
34 Large time deposit (10) 92.1 103.0
Money market mutual funds
35 Retail 832.7 925.3
36 Institution only 648.6 806.1
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 334.7 364.2
38 Eurodollars (12) 171.7 195.2
2001 2002
Item Dec. Dec.
Seasonally adjusted
Measures (2)
1 M1 1,172.9 1,210.4 (r)
2 M2 5,444.4 5,791.4 (r)
3 M3 8,004.4 8,518.4 (r)
M1 components
4 Currency (3) 581.9 627.3
5 Travelers checks (4) 7.8 7.5
6 Demand deposits (5) 326.1 297.1 (r)
7 Other checkable deposits (6) 257.2 278.5 (r)
Nontransaction components
8 In M2 (7) 4,271.6 4,581.0 (r)
9 In M3 only (8) 2,559.9 2,727.0 (r)
Commercial banks
10 Savings deposits, including MMDAs 1,734.6 2,047.9 (r)
11 Small time deposits (9) 634.2 591.1
12 Large time deposit (10,11) 671.1 676.6 (r)
Thrift institutions
13 Savings deposits including MMDAs 572.4 714.4
14 Small time deposits (9) 339.1 302.1
15 Large time deposits (10) 114.9 117.3
Money market mutual funds
16 Retail 991.3 925.5
17 Institution-only 1,190.3 1,234.5
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 375.0 470.7
19 Eurodollars (12) 208.6 227.9
Not seasonally adjusted
Measures (2)
20 M1 1,202.9 1,240.3 (r)
21 M2 5,487.4 5,840.7 (r)
22 M3 8,076.1 8,596.0 (r)
M1 components
23 Currency (3) 585.4 630.6
24 Travelers checks (4) 7.9 7.7
25 Demand deposits (5) 348.1 317.5 (r)
26 Other checkable deposits (6) 261.5 284.5 (r)
Nontransaction components
27 In M2 (7) 4,284.4 4,600.4
28 In M3 only (8) 2,588.7 2,755.3
Commercial banks
29 Savings deposits, including MMDAs 1,742.4 2,060.4
30 Small time deposits (9) 635.1 591.7
31 Large time deposits (10,11) 670.0 675.0
Thrift institutions
32 Savings deposits, including MMDAs 575.1 718.8
33 Small time deposit (9) 339.6 302.5
34 Large time deposit (10) 114.7 117.0
Money market mutual funds
35 Retail 992.4 927.0
36 Institution only 1,218.3 1,262.3
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 376.5 472.5
38 Eurodollars (12) 209.1 228.5
2003
Item Mar. Apr. (r)
Seasonally adjusted
Measures (2)
1 M1 1,237.0 (r) 1,237.4
2 M2 5,890.1 (r) 5,913.4
3 M3 8,593.7 (r) 8,608.9
M1 components
4 Currency (3) 640.2 643.1
5 Travelers checks (4) 7.5 7.4
6 Demand deposits (5) 304.4 304.4
7 Other checkable deposits (6) 284.9 282.4
Nontransaction components
8 In M2 (7) 4,653.1 (r) 4,675.9
9 In M3 only (8) 2,703.6 (r) 2,695.5
Commercial banks
10 Savings deposits, including MMDAs 2,115.2 (r) 2,146.3
11 Small time deposits (9) 580.6 576.4
12 Large time deposit (10,11) 687.7 (r) 689.4
Thrift institutions
13 Savings deposits including MMDAs 755.3 (r) 767.2
14 Small time deposits (9) 296.5 295.4
15 Large time deposits (10) 117.7 117.9
Money market mutual funds
16 Retail 905.5 890.6
17 Institution-only 1,165.8 1,144.0
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 493.4 501.0
19 Eurodollars (12) 239.0 (r) 243.3
Not seasonally adjusted
Measures (2)
20 M1 1,238.5 (r) 1,253.5
21 M2 5,922.6 (r) 5,980.1
22 M3 8,655.6 (r) 8,670.8
M1 components
23 Currency (3) 639.9 643.3
24 Travelers checks (4) 7.7 7.5
25 Demand deposits (5) 303.3 308.2
26 Other checkable deposits (6) 287.7 (r) 294.5
Nontransaction components
27 In M2 (7) 4,684.1 (r) 4,726.6
28 In M3 only (8) 2,733.0 (r) 2,690.7
Commercial banks
29 Savings deposits, including MMDAs 2,126.3 2,170.9
30 Small time deposits (9) 579.8 575.4
31 Large time deposits (10,11) 685.5 (r) 687.9
Thrift institutions
32 Savings deposits, including MMDAs 759.3 (r) 776.0
33 Small time deposit (9) 296.1 294.9
34 Large time deposit (10) 117.3 117.6
Money market mutual funds
35 Retail 922.6 909.4
36 Institution only 1,187.5 1,141.1
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 499.5 497.2
38 Eurodollars (12) 243.2 (r) 246.9
2003
Item May (r) June
Seasonally adjusted
Measures (2)
1 M1 1,258.3 1,272.2
2 M2 6,000.1 6,046.4
3 M3 8,697.4 8,760.3
M1 components
4 Currency (3) 645.7 646.4
5 Travelers checks (4) 7.5 7.9
6 Demand deposits (5) 315.4 322.4
7 Other checkable deposits (6) 289.7 295.4
Nontransaction components
8 In M2 (7) 4,741.7 4,774.2
9 In M3 only (8) 2,697.3 2,713.9
Commercial banks
10 Savings deposits, including MMDAs 2,188.2 2,227.3
11 Small time deposits (9) 571.4 566.0
12 Large time deposit (10,11) 697.1 697.1
Thrift institutions
13 Savings deposits including MMDAs 792.9 801.4
14 Small time deposits (9) 293.0 290.3
15 Large time deposits (10) 116.9 118.0
Money market mutual funds
16 Retail 896.3 889.3
17 Institution-only 1,124.8 1,143.8
Repurchase agreements and eurodollars
18 Repurchase agreements (12) 506.6 507.9
19 Eurodollars (12) 251.9 247.1
Not seasonally adjusted
Measures (2)
20 M1 1,251.8 1,269.3
21 M2 5,965.4 6,015.4
22 M3 8,672.9 8,729.2
M1 components
23 Currency (3) 646.5 647.6
24 Travelers checks (4) 7.5 7.7
25 Demand deposits (5) 308.0 318.7
26 Other checkable deposits (6) 289.8 295.3
Nontransaction components
27 In M2 (7) 4,713.6 4,746.0
28 In M3 only (8) 2,707.5 2,713.9
Commercial banks
29 Savings deposits, including MMDAs 2,177.3 2,217.1
30 Small time deposits (9) 570.7 565.3
31 Large time deposits (10,11) 703.0 701.6
Thrift institutions
32 Savings deposits, including MMDAs 789.0 797.7
33 Small time deposit (9) 292.6 289.9
34 Large time deposit (10) 117.9 118.8
Money market mutual funds
35 Retail 884.1 875.9
36 Institution only 1,118.9 1,131.0
Repurchase agreements and eurodollars
37 Repurchase agreements (12) 513.9 517.0
38 Eurodollars (12) 253.9 245.4
(1.) Latest monthly and weekly figures are available from the Board's
H.6 (508) weekly statistical release. Historical data starting in 1959
are available from the Money and Reserves Projections Section, Division
of Monetary Affairs, Board of Governors of the Federal Reserve System,
Washington, DC 20551.
(2.) Composition of the money stock measures is as follows:
M1: (1) currency outside the U.S. Treasury, Federal Reserve Banks, and
the vaults of depository institutions, (2) travelers checks of nonbank
issuers, (3) demand deposits at all commercial banks other than those
owed depository institutions, the U.S. government, and foreign bank 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 results to seasonally
adjusted M1.
M3: M2 plus (1) large-denomination time deposits (in amount 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 bank and official institutions.
Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and eurodollars,
each seasonally adjusted separately, and adding this result to
seasonally adjusted M2.
(3.) Currency outside the U.S. Treasury, Federal Reserve Banks, and
vaults of depository institutions.
(4.) Outstanding amount of U.S. dollar-denominated travelers checks of
nonbanks 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) saving 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
amount 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 2002 2002
June Dec. (r)
Seasonally adjusted
Assets
1 Bank credit 5,527.4 (r) 5,891.9
2 Securities in bank credit 1,559.6 1,716.3
3 U.S. government securities 908.7 1,027.8
4 Other securities 650.9 688.6
5 Loans and leases in bank credit (2) 3,967.7 (r) 4,175.6
6 Commercial and industrial 990.1 (r) 965.3
7 Real estate 1,839.7 (r) 2,027.6
8 Revolving home equity 185.2 (r) 213.4
9 Other 1,654.5 (r) 1,814.2
10 Consumer 567.7 588.1
11 Security (3) 169.5 189.5
12 Other loans and leases 400.8 (r) 405.1
13 Interbank loans 282.7 328.4
14 Cash assets (4) 308.5 316.9
15 Other assets (5) 481.7 (r) 509.2
16 Total assets (6) 6,525.1 (r) 6,970.1
Liabilities
17 Deposits 4,373.6 4,487.4
18 Transaction 599.0 611.3
19 Nontransaction 3,774.5 3,876.1
20 Large time 1,034.8 978.6
21 Other 2,739.7 2,897.6
22 Borrowings 1,232.1 1,402.1
23 From banks in the U.S. 378.5 417.5
24 From others 853.6 984.6
25 Net due to related foreign offices 83.3 (r) 146.0
26 Other liabilities 376.8 (r) 437.8
27 Total liabilities 6,065.7 (r) 6,473.3
28 Residual (assets less liabilities) (7) 459.4 (r) 496.8
Not seasonally adjusted
Assets
29 Bank credit 5,524.5 (r) 5,925.9
30 Securities in bank credit 1,554.8 1,723.0
31 U.S. government securities 905.1 1,032.0
32 Other securities 649.7 691.0
33 Loans and leases in bank credit (2) 3,969.6 (r) 4,202.9
34 Commercial and industrial 994.2 (r) 964.0
35 Real estate 1,840.5 (r) 2,032.2
36 Revolving home equity 185.8 (r) 212.9
37 Other 1,654.7 (r) 1,819.2
38 Consumer 564.0 596.9
39 Credit cards and related plans 220.7 238.5
40 Other 343.2 (r) 358.4
41 Security (3) 168.8 200.1
42 Other loans and leases 402.1 (r) 409.7
43 Interbank loans 284.5 335.4
44 Cash assets (4) 300.1 339.1
45 Other assets (5) 477.2 (r) 514.0
46 Total assets (6) 6,511.0 (r) 7,038.1
Liabilities
47 Deposits 4,363.0 4,538.2
48 Transaction 594.2 644.1
49 Nontransaction 3,768.8 3,894.1
50 Large time 1,032.7 991.3
51 Other 2,736.1 2,902.8
52 Borrowings 1,231.2 1,401.2
53 From banks in the U.S. 376.9 419.3
54 From others 854.3 982.0
55 Net due to related foreign offices 80.2 (r) 152.0
56 Other liabilities 374.4 (r) 444.7
57 Total liabilities 6,048.8 (r) 6,536.1
58 Residual (assets less liabilities) (7) 462.2 (r) 502.0
Monthly averages
Account 2003
Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 5,885.8 5,962.8
2 Securities in bank credit 1,710.3 1,753.9
3 U.S. government securities 1,030.2 1,059.0
4 Other securities 680.1 695.0
5 Loans and leases in bank credit (2) 4,175.5 4,208.9
6 Commercial and industrial 960.8 954.5
7 Real estate 2,046.1 2,079.3
8 Revolving home equity 217.6 222.7
9 Other 1,828.5 1,856.6
10 Consumer 591.8 591.7
11 Security (3) 174.8 181.3
12 Other loans and leases 401.9 402.0
13 Interbank loans 307.3 305.0
14 Cash assets (4) 313.7 318.3
15 Other assets (5) 509.9 533.9
16 Total assets (6) 6,939.8 7,043.5
Liabilities
17 Deposits 4,506.9 4,535.4
18 Transaction 608.0 613.7
19 Nontransaction 3,899.0 3,921.6
20 Large time 979.4 995.2
21 Other 2,919.6 2,926.4
22 Borrowings 1,335.8 1,367.4
23 From banks in the U.S. 380.8 388.1
24 From others 954.9 979.3
25 Net due to related foreign offices 154.7 144.1
26 Other liabilities 442.4 455.7
27 Total liabilities 6,439.8 6,502.6
28 Residual (assets less liabilities) (7) 500.1 540.9
Not seasonally adjusted
Assets
29 Bank credit 5,902.8 5,966.2
30 Securities in bank credit 1,720.7 1,763.1
31 U.S. government securities 1,035.0 1,065.3
32 Other securities 685.6 697.8
33 Loans and leases in bank credit (2) 4,182.1 4,203.1
34 Commercial and industrial 954.9 952.5
35 Real estate 2,046.5 2,075.1
36 Revolving home equity 217.0 223.0
37 Other 1,829.5 1,852.1
38 Consumer 599.5 594.9
39 Credit cards and related plans 234.0 225.8
40 Other 365.5 369.1
41 Security (3) 181.0 183.0
42 Other loans and leases 400.2 397.6
43 Interbank loans 304.0 302.2
44 Cash assets (4) 329.7 318.8
45 Other assets (5) 513.6 531.4
46 Total assets (6) 6,973.4 7,041.6
Liabilities
47 Deposits 4,530.3 4,556.3
48 Transaction 622.0 606.1
49 Nontransaction 3,908.2 3,950.2
50 Large time 996.0 1,005.8
51 Other 2,912.3 2,944.3
52 Borrowings 1,348.9 1,369.6
53 From banks in the U.S. 385.4 391.6
54 From others 963.5 978.0
55 Net due to related foreign offices 158.8 149.5
56 Other liabilities 446.1 462.0
57 Total liabilities 6,483.9 6,537.3
58 Residual (assets less liabilities) (7) 489.5 504.3
Monthly averages
Account 2003
Mar. (r) Apr. (r)
Seasonally adjusted
Assets
1 Bank credit 5,993.2 6,024.7
2 Securities in bank credit 1,766.2 1,777.9
3 U.S. government securities 1,071.9 1,104.4
4 Other securities 694.2 673.5
5 Loans and leases in bank credit (2) 4,227.1 4,246.9
6 Commercial and industrial 948.9 946.4
7 Real State 2,093.9 2,110.5
8 Revolving home equity 230.5 234.8
9 Other 1,863.5 1,875.7
10 Consumer 586.9 583.8
11 Security (3) 193.6 190.4
12 Other loans and leases 403.7 415.7
13 Interbank loans 314.0 305.6
14 Cash assets (4) 323.5 319.5
15 Other assets (5) 524.8 531.7
16 Total assets (6) 7,079.1 7,106.2
Liabilities
17 Deposits 4,585.6 4,613.5
18 Transaction 619.5 632.2
19 Nontransaction 3,966.1 3,981.3
20 Large time 1,001.6 985.4
21 Other 2,964.5 2,995.9
22 Borrowings 1,389.3 1,398.1
23 From banks in the U.S. 397.4 397.5
24 From others 991.8 1,000.6
25 Net due to related foreign offices 135.6 139.2
26 Other liabilities 450.4 456.6
27 Total liabilities 6,560.9 6,607.5
28 Residual (assets less liabilities) (7) 518.1 498.8
Not seasonally adjusted
Assets
29 Bank credit 5,982.0 6,019.3
30 Securities in bank credit 1,771.2 1,775.7
31 U.S. government securities 1,076.9 1,014.3
32 Other securities 694.3 671.4
33 Loans and leases in bank credit (2) 4,210.8 4,243.6
34 Commercial and industrial 950.3 950.2
35 Real estate 2,085.0 2,106.8
36 Revolving home equity 228.4 234.5
37 Other 1,856.5 1,872.4
38 Consumer 584.6 581.0
39 Credit cards and related plans 219.6 215.3
40 Other 365.0 365.8
41 Security (3) 189.2 189.6
42 Other loans and leases 401.8 415.9
43 Interbank loans 320.5 316.8
44 Cash assets (4) 312.7 317.7
45 Other assets (5) 523.9 531.1
46 Total assets (6) 7,062.5 7,109.6
Liabilities
47 Deposits 4,592.8 4,638.6
48 Transaction 611.1 638.1
49 Nontransaction 3,981.6 4,000.5
50 Large time 1,004.3 989.8
51 Other 2,977.3 3,010.7
52 Borrowings 1,385.7 1,402.3
53 From banks in the U.S. 400.9 401.6
54 From others 984.8 1,000.7
55 Net due to related foreign offices 133.8 130.1
56 Other liabilities 446.6 444.1
57 Total liabilities 6,558.8 6,615.2
58 Residual (assets less liabilities) (7) 503.6 494.5
Monthly averages
Account 2003
May (r) June
Seasonally adjusted
Assets
1 Bank credit 6,124.0 6,178.8
2 Securities in bank credit 1,834.9 1,856.8
3 U.S. government securities 1,135.8 1,152.0
4 Other securities 699.0 704.8
5 Loans and leases in bank credit (2) 4,289.1 4,322.0
6 Commercial and industrial 935.4 921.3
7 Real State 2,133.7 2,156.7
8 Revolving home equity 238.4 244.8
9 Other 1,895.3 1,911.9
10 Consumer 587.8 592.5
11 Security (3) 209.7 211.2
12 Other loans and leases 422.5 440.2
13 Interbank loans 318.8 323.0
14 Cash assets (4) 317.6 331.4
15 Other assets (5) 556.3 564.6
16 Total assets (6) 7,241.1 7,322.0
Liabilities
17 Deposits 4,646.6 4,706.8
18 Transaction 633.4 637.9
19 Nontransaction 4,013.2 4,068.9
20 Large time 999.0 1,002.5
21 Other 3,014.1 3,066.4
22 Borrowings 1,439.9 1,479.9
23 From banks in the U.S. 389.8 408.2
24 From others 1,050.1 1,071.7
25 Net due to related foreign offices 144.8 123.3
26 Other liabilities 482.9 495.8
27 Total liabilities 6,714.1 6,805.8
28 Residual (assets less liabilities) (7) 527.0 516.2
Not seasonally adjusted
Assets
29 Bank credit 6,118.7 6,175.3
30 Securities in bank credit 1,832.6 1,850.7
31 U.S. government securities 1,133.8 1,147.3
32 Other securities 698.8 703.3
33 Loans and leases in bank credit (2) 4,286.1 4,324.6
34 Commercial and industrial 939.1 925.3
35 Real estate 2,137.5 2,158.0
36 Revolving home equity 239.6 245.7
37 Other 1,897.9 1,912.3
38 Consumer 586.7 589.1
39 Credit cards and related plans 220.5 221.5
40 Other 366.2 367.7
41 Security (3) 202.0 209.8
42 Other loans and leases 420.8 442.4
43 Interbank loans 314.5 324.2
44 Cash assets (4) 314.0 322.2
45 Other assets (5) 554.2 558.8
46 Total assets (6) 7,225.4 7,304.5
Liabilities
47 Deposits 4,639.6 4,695.9
48 Transaction 623.2 632.5
49 Nontransaction 4,016.4 4,063.4
50 Large time 1,002.7 1,000.6
51 Other 3,013.7 3,062.8
52 Borrowings 1,445.6 1,478.9
53 From banks in the U.S. 392.2 406.3
54 From others 1,053.5 1,072.6
55 Net due to related foreign offices 144.3 120.5
56 Other liabilities 482.0 492.6
57 Total liabilities 6,711.5 6,787.9
58 Residual (assets less liabilities) (7) 513.9 516.6
Wednesday figures
Account 2003
June 4 June 11
Seasonally adjusted
Assets
1 Bank credit 6,174.5 6,176.2
2 Securities in bank credit 1,872.1 1,862.2
3 U.S. government securities 1,154.7 1,151.3
4 Other securities 717.4 710.9
5 Loans and leases in bank credit (2) 4,302.4 4,314.0
6 Commercial and industrial 923.8 920.3
7 Real State 2,145.3 2,164.2
8 Revolving home equity 242.1 243.4
9 Other 1,903.2 1,920.8
10 Consumer 590.1 591.9
11 Security (3) 216.6 209.9
12 Other loans and leases 426.6 427.8
13 Interbank loans 317.7 318.5
14 Cash assets (4) 303.7 341.4
15 Other assets (5) 563.4 578.6
16 Total assets (6) 7,283.7 7,339.0
Liabilities
17 Deposits 4,680.8 4,684.6
18 Transaction 597.9 625.6
19 Nontransaction 4,082.9 4,059.0
20 Large time 1,010.6 992.7
21 Other 3,072.3 3,066.3
22 Borrowings 1,462.0 1,486.8
23 From banks in the U.S. 400.7 405.1
24 From others 1,061.3 1,081.7
25 Net due to related foreign offices 118.1 128.9
26 Other liabilities 497.9 511.1
27 Total liabilities 6,758.8 6,811.5
28 Residual (assets less liabilities) (7) 524.9 527.5
Not seasonally adjusted
Assets
29 Bank credit 6,177.2 6,175.9
30 Securities in bank credit 1,875.1 1,862.3
31 U.S. government securities 1,157.1 1,150.4
32 Other securities 718.0 711.9
33 Loans and leases in bank credit (2) 4,302.1 4,313.6
34 Commercial and industrial 927.6 921.7
35 Real estate 2,147.9 2,168.9
36 Revolving home equity 242.7 244.2
37 Other 1,905.2 1,924.6
38 Consumer 587.3 587.9
39 Credit cards and related plans 220.8 220.5
40 Other 366.5 367.4
41 Security (3) 209.1 207.2
42 Other loans and leases 430.1 427.9
43 Interbank loans 326.8 323.9
44 Cash assets (4) 313.5 317.6
45 Other assets (5) 560.1 571.4
46 Total assets (6) 7,301.7 7,312.7
Liabilities
47 Deposits 4,706.2 4,685.7
48 Transaction 607.4 611.7
49 Nontransaction 4,098.9 4,074.1
50 Large time 1,014.5 996.5
51 Other 3,084.3 3,077.5
52 Borrowings 1,464.9 1,468.3
53 From banks in the U.S. 402.2 399.8
54 From others 1,062.8 1,068.5
55 Net due to related foreign offices 116.9 126.6
56 Other liabilities 496.8 508.4
57 Total liabilities 6,784.8 6,788.9
58 Residual (assets less liabilities) (7) 516.9 523.8
Wednesday figures
Account 2003
June 18 June 25
Seasonally adjusted
Assets
1 Bank credit 6,171.2 6,153.3
2 Securities in bank credit 1,850.8 1,848.8
3 U.S. government securities 1,154.9 1,152.9
4 Other securities 695.9 695.9
5 Loans and leases in bank credit (2) 4,320.3 4,304.4
6 Commercial and industrial 921.4 917.4
7 Real State 2,155.8 2,143.6
8 Revolving home equity 245.1 246.1
9 Other 1,910.7 1,897.5
10 Consumer 599.9 592.2
11 Security (3) 209.6 215.3
12 Other loans and leases 433.7 436.0
13 Interbank loans 324.2 335.2
14 Cash assets (4) 319.2 353.4
15 Other assets (5) 556.5 563.6
16 Total assets (6) 7,295.2 7,329.4
Liabilities
17 Deposits 4,706.1 4,713.5
18 Transaction 637.0 692.7
19 Nontransaction 4,069.1 4,020.8
20 Large time 1,010.2 987.7
21 Other 3,058.9 3,033.1
22 Borrowings 1,469.5 1,462.8
23 From banks in the U.S. 397.5 423.1
24 From others 1,072.0 1,039.7
25 Net due to related foreign offices 119.0 126.9
26 Other liabilities 489.3 492.3
27 Total liabilities 6,783.9 6,795.6
28 Residual (assets less liabilities) (7) 511.3 533.8
Not seasonally adjusted
Assets
29 Bank credit 6,164.5 6,137.0
30 Securities in bank credit 1,842.9 1,836.3
31 U.S. government securities 1,148.4 1,143.6
32 Other securities 694.5 692.7
33 Loans and leases in bank credit (2) 4,321.6 4,300.7
34 Commercial and industrial 924.1 921.5
35 Real estate 2,152.5 2,143.7
36 Revolving home equity 246.0 247.3
37 Other 1,906.6 1,896.4
38 Consumer 594.2 590.5
39 Credit cards and related plans 225.9 222.3
40 Other 368.3 368.2
41 Security (3) 216.0 211.6
42 Other loans and leases 434.7 433.4
43 Interbank loans 325.8 319.1
44 Cash assets (4) 315.3 325.3
45 Other assets (5) 549.1 553.2
46 Total assets (6) 7,278.5 7,258.6
Liabilities
47 Deposits 4,692.5 4,650.1
48 Transaction 635.0 660.9
49 Nontransaction 4,057.6 3,989.2
50 Large time 1,008.8 983.2
51 Other 3,048.7 3,006.0
52 Borrowings 1,478.5 1,467.6
53 From banks in the U.S. 397.9 420.8
54 From others 1,080.6 1,046.8
55 Net due to related foreign offices 114.0 126.6
56 Other liabilities 483.1 492.3
57 Total liabilities 6,768.2 6,736.6
58 Residual (assets less liabilities) (7) 510.3 522.1
B. Domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2002 2002
June Dec. (r)
Seasonally adjusted
Assets
1 Bank credit 4,923.8 (r) 5,250.4
2 Securities in bank credit 1,323.7 1,449.1
3 U.S. government securities 832.7 920.2
4 Other securities 490.9 528.9
5 Loans and leases in bank credit (2) 3,600.1 (r) 3,801.3
6 Commercial and industrial 797.9 (r) 786.9
7 Real State 1,821.3 (r) 2,008.1
8 Revolving home equity 185.2 (r) 213.4
9 Other 1,636.1 (r) 1,794.7
10 Consumer 567.7 588.1
11 Security (3) 83.6 79.4
12 Other loans and leases 329.7 (r) 338.8
13 Interbank loans 262.4 298.3
14 Cash assets (4) 261.5 272.3
15 Other assets (5) 454.4 (r) 477.6
16 Total assets (6) 5,827.5 (r) 6,222.8
Liabilities
17 Deposits 3,868.2 4,061.9
18 Transaction 588.7 602.1
19 Nontransaction 3,279.5 3,459.8
20 Large time 542.4 569.9
21 Other 2,737.1 2,889.9
22 Borrowings 1,039.1 1,119.4
23 From banks in the U.S. 357.7 387.5
24 From others 681.3 731.9
25 Net due to related foreign offices 170.0 (r) 206.0
26 Other liabilities 292.6 (r) 340.9
27 Total liabilities 5,369.9 (r) 5,728.2
28 Residual (assets less liabilities) (7) 457.6 (r) 494.6
Not seasonally adjusted
Assets
29 Bank credit 4,923.6 (r) 5,274.4
30 Securities in bank credit 1,318.9 1,455.7
31 U.S. government securities 829.2 924.5
32 Other securities 489.7 (r) 531.3
33 Loans and leases in bank credit (2) 3,604.7 (r) 3,818.6
34 Commercial and industrial 802.6 (r) 784.2
35 Real estate 1,822.1 (r) 2,012.7
36 Revolving home equity 185.8 (r) 212.9
37 Other 1,636.3 (r) 1,799.8
38 Consumer 564.0 596.9
39 Credit cards and related plans 220.7 238.5
40 Other 343.2 (r) 358.4
41 Security (3) 84.6 83.4
42 Other loans and leases 331.4 (r) 341.4
43 Interbank loans 264.3 305.4
44 Cash assets (4) 255.4 291.3
45 Other assets (5) 451.0 (r) 481.4
46 Total assets (6) 5,819.4 (r) 6,276.6
Liabilities
47 Deposits 3,859.7 4,101.8
48 Transaction 584.2 634.1
49 Nontransaction 3,275.6 3,467.7
50 Large time 542.0 572.7
51 Other 2,733.6 2,895.0
52 Borrowings 1,038.3 1,118.5
53 From banks in the U.S. 356.2 389.2
54 From others 682.1 729.3
55 Net due to related foreign offices 169.2 (r) 210.4
56 Other liabilities 291.4 (r) 346.7
57 Total liabilities 5,358.6 (r) 5,777.4
58 Residual (assets less liabilities) (7) 460.8 (r) 499.2
Monthly averages
Account 2003
Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 5,252.2 5,316.1
2 Securities in bank credit 1,441.8 1,474.8
3 U.S. government securities 920.8 942.6
4 Other securities 521.0 532.3
5 Loans and leases in bank credit (2) 3,810.4 3,841.3
6 Commercial and industrial 783.6 780.3
7 Real State 2,026.4 2,059.6
8 Revolving home equity 217.6 222.7
9 Other 1,808.8 1,836.9
10 Consumer 591.8 591.7
11 Security (3) 71.5 73.2
12 Other loans and leases 337.1 336.5
13 Interbank loans 279.1 278.0
14 Cash assets (4) 273.6 279.6
15 Other assets (5) 475.3 498.9
16 Total assets (6) 6,203.9 6,296.4
Liabilities
17 Deposits 4,080.4 4,092.5
18 Transaction 598.2 603.5
19 Nontransaction 3,482.2 3,489.0
20 Large time 577.6 583.5
21 Other 2,904.6 2,905.5
22 Borrowings 1,062.1 1,092.7
23 From banks in the U.S. 349.8 357.0
24 From others 712.3 735.7
25 Net due to related foreign offices 225.1 222.6
26 Other liabilities 346.6 355.8
27 Total liabilities 5,714.2 5,763.6
28 Residual (assets less liabilities) (7) 489.7 532.8
Not seasonally adjusted
Assets
29 Bank credit 5,261.5 5,315.1
30 Securities in bank credit 1,452.2 1,484.0
31 U.S. government securities 925.6 948.9
32 Other securities 526.6 535.1
33 Loans and leases in bank credit (2) 3,809.3 3,831.1
34 Commercial and industrial 777.6 776.9
35 Real estate 2,026.8 2,055.4
36 Revolving home equity 217.0 223.0
37 Other 1,809.9 1,832.4
38 Consumer 599.5 594.9
39 Credit cards and related plans 234.0 225.8
40 Other 365.5 369.1
41 Security (3) 70.7 72.0
42 Other loans and leases 334.7 331.9
43 Interbank loans 275.9 275.2
44 Cash assets (4) 286.6 279.1
45 Other assets (5) 477.8 495.7
46 Total assets (6) 6,225.6 6,288.6
Liabilities
47 Deposits 4,087.5 4,103.3
48 Transaction 612.0 595.8
49 Nontransaction 3,475.6 3,507.4
50 Large time 578.9 584.4
51 Other 2,896.7 2,923.0
52 Borrowings 1,075.2 1,094.9
53 From banks in the U.S. 354.4 360.5
54 From others 720.8 734.4
55 Net due to related foreign offices 226.6 226.7
56 Other liabilities 348.6 361.2
57 Total liabilities 5,738.0 5,786.2
58 Residual (assets less liabilities) (7) 487.6 502.4
Monthly average
Account 2003
Mar. (r) Apr. (r)
Seasonally adjusted
Assets
1 Bank credit 5,329.6 5,370.1
2 Securities in bank credit 1,482.2 1,500.4
3 U.S. government securities 949.3 979.0
4 Other securities 532.9 521.4
5 Loans and leases in bank credit (2) 3,847.4 3,869.7
6 Commercial and industrial 777.2 774.4
7 Real State 2,074.1 2,091.5
8 Revolving home equity 230.5 234.8
9 Other 1,843.6 1,856.7
10 Consumer 586.9 583.8
11 Security (3) 72.2 72.4
12 Other loans and leases 337.0 347.6
13 Interbank loans 286.7 283.2
14 Cash assets (4) 279.7 269.4
15 Other assets (5) 493.7 496.6
16 Total assets (6) 6,313.8 6,344.4
Liabilities
17 Deposits 4,137.2 4,177.1
18 Transaction 608.0 620.9
19 Nontransaction 3,529.2 3,556.2
20 Large time 583.6 582.1
21 Other 2,945.6 2,974.1
22 Borrowings 1,095.9 1,099.5
23 From banks in the U.S. 363.7 370.0
24 From others 732.2 729.5
25 Net due to related foreign offices 219.5 212.0
26 Other liabilities 354.9 365.4
27 Total liabilities 5,807.5 5,854.0
28 Residual (assets less liabilities) (7) 506.3 490.4
Not seasonally adjusted
Assets
29 Bank credit 5,320.2 5,364.8
30 Securities in bank credit 1,487.2 1,498.2
31 U.S. government securities 954.3 978.9
32 Other securities 532.9 519.3
33 Loans and leases in bank credit (2) 3,833.0 3,866.6
34 Commercial and industrial 777.1 779.1
35 Real estate 2,065.1 2,087.8
36 Revolving home equity 228.4 234.5
37 Other 1,836.7 1,853.4
38 Consumer 584.6 581.0
39 Credit cards and related plans 219.6 215.3
40 Other 365.0 365.8
41 Security (3) 71.9 71.3
42 Other loans and leases 334.3 347.3
43 Interbank loans 293.3 294.3
44 Cash assets (4) 270.1 269.8
45 Other assets (5) 492.0 496.2
46 Total assets (6) 6,299.4 6,350.3
Liabilities
47 Deposits 4,140.3 4,196.3
48 Transaction 600.0 627.4
49 Nontransaction 3,540.3 3,568.9
50 Large time 582.1 580.2
51 Other 2,958.2 2,988.6
52 Borrowings 1,092.3 1,103.6
53 From banks in the U.S. 367.2 374.1
54 From others 725.1 729.5
55 Net due to related foreign offices 215.4 203.4
56 Other liabilities 349.6 353.2
57 Total liabilities 5,797.6 5,856.5
58 Residual (assets less liabilities) (7) 501.8 493.9
Monthly averages
Account 2003
May (r) June
Seasonally adjusted
Assets
1 Bank credit 5,455.7 5,509.9
2 Securities in bank credit 1,546.0 1,568.9
3 U.S. government securities 1,005.0 1,022.9
4 Other securities 541.1 546.0
5 Loans and leases in bank credit (2) 3,909.7 3,941.0
6 Commercial and industrial 765.5 759.1
7 Real State 2,114.5 2,137.5
8 Revolving home equity 238.4 244.8
9 Other 1,876.1 1,892.7
10 Consumer 587.8 592.5
11 Security (3) 91.2 90.0
12 Other loans and leases 350.6 362.0
13 Interbank loans 294.2 292.2
14 Cash assets (4) 265.5 275.3
15 Other assets (5) 514.5 519.4
16 Total assets (6) 6,454.6 6,521.5
Liabilities
17 Deposits 4,207.8 4,256.2
18 Transaction 622.4 626.3
19 Nontransaction 3,585.0 3,630.0
20 Large time 595.3 589.8
21 Other 2,9 0.1 3,040.1
22 Borrowings 1,132.7 1,160.9
23 From banks in the U.S. 358.2 373.0
24 From others 774.5 787.9
25 Net due to related foreign offices 222.6 205.3
26 Other liabilities 377.4 385.8
27 Total liabilities 5,940.5 6,008.2
28 Residual (assets less liabilities) (7) 514.1 513.2
Not seasonally adjusted
Assets
29 Bank credit 5,455.1 5,509.9
30 Securities in bank credit 1,543.8 1,562.8
31 U.S. government securities 1,002.9 1,018.2
32 Other securities 540.8 544.6
33 Loans and leases in bank credit (2) 3,911.4 3,947.1
34 Commercial and industrial 771.0 763.5
35 Real estate 2,118.3 2,138.8
36 Revolving home equity 239.6 245.7
37 Other 1,878.7 1,893.1
38 Consumer 586.7 589.1
39 Credit cards and related plans 220.5 221.5
40 Other 366.2 367.7
41 Security (3) 85.8 91.1
42 Other loans and leases 349.5 364.6
43 Interbank loans 289.8 293.4
44 Cash assets (4) 263.5 268.7
45 Other assets (5) 512.2 515.4
46 Total assets (6) 6,445.3 6,511.9
Liabilities
47 Deposits 4,195.4 4,247.2
48 Transaction 612.6 621.2
49 Nontransaction 3,582.8 3,625.9
50 Large time 593.5 589.4
51 Other 2,989.3 3,036.5
52 Borrowings 1,138.5 1,160.0
53 From banks in the U.S. 360.6 371.2
54 From others 777.9 788.8
55 Net due to related foreign offices 221.8 204.3
56 Other liabilities 376.2 384.1
57 Total liabilities 5,931.9 5,995.5
58 Residual (assets less liabilities) (7) 513.3 516.4
Wednesday figures
Account 2003
June 4 June 11
Seasonally adjusted
Assets
1 Bank credit 5,495.8 5,495.1
2 Securities in bank credit 1,576.3 1,561.6
3 U.S. government securities 1,021.1 1,016.3
4 Other securities 555.2 545.2
5 Loans and leases in bank credit (2) 3,919.5 3,933.5
6 Commercial and industrial 759.9 757.0
7 Real State 2,126.2 2,145.1
8 Revolving home equity 242.1 243.4
9 Other 1,884.1 1,901.7
10 Consumer 590.1 591.9
11 Security (3) 93.2 88.4
12 Other loans and leases 350.1 351.1
13 Interbank loans 290.2 285.7
14 Cash assets (4) 250.4 283.3
15 Other assets (5) 518.2 533.8
16 Total assets (6) 6,479.4 6,522.6
Liabilities
17 Deposits 4,230.5 4,230.1
18 Transaction 586.7 614.4
19 Nontransaction 3,643.8 3,615.7
20 Large time 596.4 580.4
21 Other 3,047.4 3,035.4
22 Borrowings 1,140.7 1,162.1
23 From banks in the U.S. 366.1 373.9
24 From others 774.5 788.2
25 Net due to related foreign offices 203.6 214.6
26 Other liabilities 388.5 396.7
27 Total liabilities 5,963.4 6,003.5
28 Residual (assets less liabilities) (7) 516.1 519.2
Not seasonally adjusted
Assets
29 Bank credit 5,504.5 5,500.1
30 Securities in bank credit 1,579.4 1,561.6
31 U.S. government securities 1,023.5 1,015.5
32 Other securities 555.9 546.2
33 Loans and leases in bank credit (2) 3,925.1 3,938.5
34 Commercial and industrial 764.5 759.5
35 Real estate 2,128.9 2,149.7
36 Revolving home equity 242.7 244.2
37 Other 1,886.1 1,905.5
38 Consumer 587.3 587.9
39 Credit cards and related plans 220.8 220.5
40 Other 366.5 367.4
41 Security (3) 91.2 89.9
42 Other loans and leases 353.3 351.3
43 Interbank loans 299.3 291.1
44 Cash assets (4) 261.6 262.5
45 Other assets (5) 515.8 527.7
46 Total assets (6) 6,505.7 6,505.8
Liabilities
47 Deposits 4,253.3 4,229.9
48 Transaction 596.6 601.2
49 Nontransaction 3,656.7 3,628.6
50 Large time 597.4 582.2
51 Other 3,059.3 3,046.4
52 Borrowings 1,143.6 1,143.6
53 From banks in the U.S. 367.6 368.6
54 From others 776.1 775.0
55 Net due to related foreign offices 203.5 213.8
56 Other liabilities 388.3 395.3
57 Total liabilities 5,988.8 5,982.5
58 Residual (assets less liabilities) (7) 516.9 523.3
Wednesday figures
Account 2003
June 18 June 25
Seasonally adjusted
Assets
1 Bank credit 5,505.8 5,488.0
2 Securities in bank credit 1,563.1 1,567.5
3 U.S. government securities 1,026.1 1,025.6
4 Other securities 537.0 541.8
5 Loans and leases in bank credit (2) 3,942.7 3,920.5
6 Commercial and industrial 759.1 756.5
7 Real State 2,136.8 2,124.2
8 Revolving home equity 245.1 246.1
9 Other 1,891.7 1,878.1
10 Consumer 599.9 592.2
11 Security (3) 91.2 91.2
12 Other loans and leases 355.8 356.5
13 Interbank loans 291.5 306.5
14 Cash assets (4) 262.5 298.8
15 Other assets (5) 508.1 519.2
16 Total assets (6) 6,492.3 6,537.0
Liabilities
17 Deposits 4,249.1 4,273.5
18 Transaction 625.6 680.9
19 Nontransaction 3,623.4 3,592.6
20 Large time 592.3 587.9
21 Other 3,031.1 3,004.7
22 Borrowings 1,151.1 1,144.7
23 From banks in the U.S. 362.2 387.4
24 From others 788.8 757.3
25 Net due to related foreign offices 198.7 204.3
26 Other liabilities 379.9 386.1
27 Total liabilities 5,978.7 6,008.6
28 Residual (assets less liabilities) (7) 513.6 528.4
Not seasonally adjusted
Assets
29 Bank credit 5,498.9 5,476.0
30 Securities in bank credit 1,555.2 1,554.9
31 U.S. government securities 1,019.5 1,016.3
32 Other securities 535.6 538.6
33 Loans and leases in bank credit (2) 3,943.7 3,921.1
34 Commercial and industrial 762.6 760.8
35 Real estate 2,133.5 2,124.2
36 Revolving home equity 246.0 247.3
37 Other 1,887.5 1,876.9
38 Consumer 594.2 590.5
39 Credit cards and related plans 225.9 222.3
40 Other 368.3 368.2
41 Security (3) 96.1 90.4
42 Other loans and leases 357.3 355.2
43 Interbank loans 293.1 290.5
44 Cash assets (4) 261.2 273.7
45 Other assets (5) 502.8 511.1
46 Total assets (6) 6,480.3 6,475.8
Liabilities
47 Deposits 4,237.9 4,212.6
48 Transaction 624.0 649.5
49 Nontransaction 3,614.0 3,563.1
50 Large time 592.8 585.4
51 Other 3,021.1 2,977.7
52 Borrowings 1,160.1 1,149.5
53 From banks in the U.S. 362.6 385.0
54 From others 797.5 764.4
55 Net due to related foreign offices 196.1 205.0
56 Other liabilities 375.9 386.9
57 Total liabilities 5,970.0 5,954.0
58 Residual (assets less liabilities) (7) 510.3 521.8
C. Large domestically chartered commercial banks
Billion of dollars
Monthly averages
Account 2002 2002
June (r) Dec. (r)
Seasonally adjusted
Assets
1 Bank credit 2,660.7 2,865.9
2 Securities in bank credit 687.0 780.2
3 U.S. government securities 403.3 458.3
4 Trading account 42.5 44.6
5 Investment account 360.8 413.7
6 Other securities 283.7 321.9
7 Trading account 148.2 164.9
8 Investment account 135.5 157.0
9 State and local government 27.3 29.5
10 Other 108.2 127.5
11 Loans and leases in bank credit (2) 1,973.7 2,085.7
12 Commercial and industrial 512.4 490.7
13 Bankers acceptances .0 .0
14 Other 512.4 490.7
15 Real estate 869.3 992.1
16 Revolving home equity 117.1 136.6
17 Other 752.2 855.5
18 Consumer 293.5 296.9
19 Security (3) 77.0 71.8
20 Federal funds sold to and
repurchase agreements
with broker-dealers 65.2 61.4
21 Other 11.9 10.4
22 State and local government 13.1 11.9
23 Agricultural 9.2 8.3
24 Federal funds sold to and
repurchase agreements with
others 18.5 25.4
25 All other loans 69.6 74.6
26 Lease-financing receivables 121.1 114.0
27 Interbank loans 175.6 190.8
28 Federal funds sold to and
repurchase agreements with
commercial banks 87.7 96.2
29 Other 87.9 94.5
30 Cash assets (4) 146.9 149.9
31 Other assets (5) 315.6 336.5
32 Total assets (6) 3,254.6 3,499.1
Liabilities
33 Deposits 1,851.9 1,973.9
34 Transaction 293.7 291.0
35 Nontransaction 1,558.2 1,682.9
36 Large time 244.9 262.5
37 Other 1,313.3 1,420.4
38 Borrowings 707.2 731.1
39 From banks in the U.S. 243.0 249.6
40 From other 464.2 481.5
41 Net due to related foreign offices 158.3 193.6
42 Other liabilities 229.6 277.0
43 Total liabilities 2,946.9 3,175.6
44 Residual (assets less liabilities) (7) 307.7 323.6
Not seasonally adjusted
Assets
45 Bank credit 2,662.8 2,878.4
46 Securities in bank credit 682.6 785.3
47 U.S. government securities 400.1 461.0
48 Trading account 42.2 44.9
49 Investment account 357.9 416.1
Mortgage-backed securities 279.5 319.0
51 Other 78.5 97.1
52 One year or less 14.8 24.1
53 One to five years 50.3 56.6
54 More than five years 13.3 16.4
55 Other securities 282.5 324.3
56 Trading account 147.5 166.1
57 Investment account 134.9 158.1
58 State and local government 27.2 29.7
59 Other 107.7 128.4
60 Loans and leases in bank credit (2) 1,980.2 2,093.1
61 Commercial and industrial 514.8 488.2
62 Bankers acceptances .0 .0
63 Other 514.9 488.2
64 Real estate 871.2 993.4
65 Revolving home equity 117.8 135.8
66 Other 436.1 535.7
67 Commercial 317.3 321.9
68 Consumer 283.6 299.4
69 Credit cards and related plans 112.5 117.3
70 Other 171.1 182.1
71 Security (3) 78.1 75.7
72 Federal funds sold to and
repurchase agreements
with broker-dealers 66.1 64.8
73 Other 12.0 10.9
74 State and local government 13.1 11.9
75 Agricultural 9.4 8.2
76 Federal funds sold to and
repurchase agreements
with others 18.5 25.4
77 All other loans 70.8 76.6
78 Lease-financing receivables 120.7 114.3
79 Interbank loans 179.8 195.3
80 Federal funds sold to and
repurchase agreements
with commercial bank 89.6 98.4
81 Other 90.2 96.8
82 Cash asset (4) 142.7 161.5
83 Other assets (5) 312.2 340.3
84 Total assets (6) 3,253.1 3,531.6
Liabilities
85 Deposits 1,852.2 1,990.4
86 Transaction 291.2 311.4
87 Nontransaction 1,561.0 1,679.0
88 Large time 244.5 265.3
89 Other 1,316.5 1,413.7
90 Borrowings 706.4 730.2
91 From banks in the U.S. 241.4 251.3
92 From nonbanks in the U.S. 465.0 478.9
93 Net due to related foreign offices 157.5 198.0
94 Other liabilities 228.3 282.8
95 Total liabilities 2,944.4 3,201.4
96 Residual (assets less liabilities) (7) 308.6 330.2
Monthly averages
Account 2003
Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 2,862.1 2,908.6
2 Securities in bank credit 774.4 805.5
3 U.S. government securities 461.0 479.7
4 Trading account 41.2 54.5
5 Investment account 419.8 425.3
6 Other securities 313.3 325.7
7 Trading account 160.0 172.6
8 Investment account 153.3 153.1
9 State and local government 29.4 29.6
10 Other 123.9 123.5
11 Loans and leases in bank credit (2) 2,087.7 2,103.1
12 Commercial and industrial 487.9 482.9
13 Bankers acceptances .0 .0
14 Other 487.9 482.9
15 Real estate 1,008.1 1,029.7
16 Revolving home equity 139.7 142.2
17 Other 868.4 887.5
18 Consumer 297.1 295.0
19 Security (3) 63.5 64.9
20 Federal funds sold to and
repurchase agreements
with broker-dealers 52.8 54.2
21 Other 10.6 10.7
22 State and local government 12.0 12.3
23 Agricultural 8.2 7.9
24 Federal funds sold to and
repurchase agreements with
others 24.3 24.3
25 All other loans 75.6 75.2
26 Lease-financing receivables 111.1 110.8
27 Interbank loans 164.5 160.4
28 Federal funds sold to and
repurchase agreements with
commercial banks 95.7 90.3
29 Other 68.8 70.1
30 Cash assets (4) 149.5 150.8
31 Other assets (5) 334.4 354.7
32 Total assets (6) 3,465.8 3,529.7
Liabilities
33 Deposits 1,983.8 1,984.5
34 Transaction 288.2 290.3
35 Nontransaction 1,695.6 1,694.2
36 Large time 270.8 273.5
37 Other 1,424.7 1,420.7
38 Borrowings 655.7 682.8
39 From banks in the U.S. 193.8 196.4
40 From other 461.9 486.4
41 Net due to related foreign offices 210.0 210.0
42 Other liabilities 275.6 279.7
43 Total liabilities 3,125.1 3,157.0
44 Residual (assets less liabilities) (7) 340.7 372.6
Not seasonally adjusted
Assets
45 Bank credit 2,869.3 2,910.7
46 Securities in bank credit 783.0 813.8
47 U.S. government securities 464.1 485.2
48 Trading account 41.5 55.1
49 Investment account 422.5 430.1
Mortgage-backed securities 325.1 331.3
51 Other 97.5 98.8
52 One year or less 21.3 22.9
53 One to five years 58.6 57.4
54 More than five years 17.5 18.6
55 Other securities 318.9 328.5
56 Trading account 162.9 174.1
57 Investment account 156.0 154.4
58 State and local government 30.0 29.8
59 Other 126.1 124.6
60 Loans and leases in bank credit (2) 2,086.4 2,096.9
61 Commercial and industrial 483.4 480.9
62 Bankers acceptances .0 .0
63 Other 483.4 480.9
64 Real estate 1,007.0 1,025.5
65 Revolving home equity 138.9 142.5
66 Other 545.3 560.1
67 Commercial 322.8 322.8
68 Consumer 301.9 298.2
69 Credit cards and related plans 115.3 109.7
70 Other 186.6 188.5
71 Security (3) 63.0 63.9
72 Federal funds sold to and
repurchase agreements
with broker-dealers 52.5 53.3
73 Other 10.6 10.6
74 State and local government 12.0 12.3
75 Agricultural 8.2 7.8
76 Federal funds sold to and
repurchase agreements
with others 24.3 24.3
77 All other loans 73.7 71.9
78 Lease-financing receivables 112.8 112.1
79 Interbank loans 167.6 158.6
80 Federal funds sold to and
repurchase agreements
with commercial bank 97.5 89.3
81 Other 70.2 69.3
82 Cash asset (4) 158.3 150.8
83 Other assets (5) 336.9 351.6
84 Total assets (6) 3,487.7 3,526.4
Liabilities
85 Deposits 1,984.7 1,988.5
86 Transaction 297.0 286.0
87 Nontransaction 1,687.7 1,702.5
88 Large time 272.1 274.4
89 Other 1,415.6 1,428.1
90 Borrowings 668.8 685.0
91 From banks in the U.S. 198.3 199.9
92 From nonbanks in the U.S. 470.4 485.1
93 Net due to related foreign offices 211.5 214.2
94 Other liabilities 277.6 285.2
95 Total liabilities 3,142.6 3,172.8
96 Residual (assets less liabilities) (7) 345.1 353.6
Monthly averages
Account 2003
Mar. (r) Apr. (r)
Seasonally adjusted
Assets
1 Bank credit 2,905.7 2,926.0
2 Securities in bank credit 803.1 810.0
3 U.S. government securities 476.4 493.2
4 Trading account 41.8 40.7
5 Investment account 434.5 452.5
6 Other securities 326.7 316.8
7 Trading account 171.6 161.5
8 Investment account 155.1 155.3
9 State and local government 30.1 30.9
10 Other 125.0 124.4
11 Loans and leases in bank credit (2) 2,102.6 2,116.0
12 Commercial and industrial 479.1 476.6
13 Bankers acceptances .0 .0
14 Other 479.1 476.6
15 Real estate 1,036.6 1,042.8
16 Revolving home equity 147.6 150.2
17 Other 888.9 892.6
18 Consumer 291.5 290.0
19 Security (3) 64.0 64.2
20 Federal funds sold to and
repurchase agreements
with broker-dealers 52.6 52.4
21 Other 11.4 11.8
22 State and local government 12.5 12.4
23 Agricultural 7.9 7.7
24 Federal funds sold to and
repurchase agreements with
others 23.9 25.1
25 All other loans 76.7 87.8
26 Lease-financing receivables 110.5 109.8
27 Interbank loans 170.2 169.3
28 Federal funds sold to and
repurchase agreements with
commercial banks 99.6 98.2
29 Other 70.6 71.1
30 Cash assets (4) 148.0 135.5
31 Other assets (5) 347.4 347.2
32 Total assets (6) 3,526.4 3,534.1
Liabilities
33 Deposits 2,003.3 2,027.7
34 Transaction 290.6 295.7
35 Nontransaction 1,712.7 1,732.0
36 Large time 268.9 267.0
37 Other 1,443.8 1,465.0
38 Borrowings 689.1 686.9
39 From banks in the U.S. 204.9 209.1
40 From other 484.2 477.8
41 Net due to related foreign offices 208.8 199.2
42 Other liabilities 275.0 284.8
43 Total liabilities 3,176.2 3,198.6
44 Residual (assets less liabilities) (7) 350.2 335.5
Not seasonally adjusted
Assets
45 Bank credit 2,889.6 2,922.5
46 Securities in bank credit 805.4 806.4
47 U.S. government securities 478.6 491.6
48 Trading account 42.1 40.6
49 Investment account 436.6 451.0
Mortgage-backed securities 334.5 354.3
51 Other 102.0 96.7
52 One year or less 24.4 24.6
53 One to five years 57.4 55.2
54 More than five years 20.3 16.9
55 Other securities 326.8 314.8
56 Trading account 171.7 160.5
57 Investment account 155.1 154.3
58 State and local government 30.1 30.7
59 Other 125.0 123.6
60 Loans and leases in bank credit (2) 2,094.2 2,116.2
61 Commercial and industrial 479.0 479.1
62 Bankers acceptances .0 .0
63 Other 479.0 479.1
64 Real estate 1,029.7 1,040.9
65 Revolving home equity 146.0 150.1
66 Other 560.7 569.5
67 Commercial 323.0 321.3
68 Consumer 292.1 290.6
69 Credit cards and related plans 105.9 103.5
70 Other 186.2 187.1
71 Security (3) 63.5 62.9
72 Federal funds sold to and
repurchase agreements
with broker-dealers 52.2 51.3
73 Other 11.3 11.6
74 State and local government 12.5 12.4
75 Agricultural 7.8 7.7
76 Federal funds sold to and
repurchase agreements
with others 23.9 25.1
77 All other loans 74.5 87.6
78 Lease-financing receivables 111.2 109.8
79 Interbank loans 170.2 172.6
80 Federal funds sold to and
repurchase agreements
with commercial bank 99.7 100.1
81 Other 70.6 72.6
82 Cash asset (4) 143.1 138.3
83 Other assets (5) 345.8 346.7
84 Total assets (6) 3,513.5 3,536.2
Liabilities
85 Deposits 2,001.4 2,035.1
86 Transaction 286.2 301.9
87 Nontransaction 1,715.2 1,733.3
88 Large time 267.4 265.2
89 Other 1,447.7 1,468.1
90 Borrowings 685.5 691.0
91 From banks in the U.S. 208.3 213.2
92 From nonbanks in the U.S. 477.2 477.9
93 Net due to related foreign offices 204.7 190.6
94 Other liabilities 269.7 272.6
95 Total liabilities 3,161.3 3,189.3
96 Residual (assets less liabilities) (7) 352.2 346.9
Monthly averages
Account 2003
May (r) June
Seasonally adjusted
Assets
1 Bank credit 3,001.2 3,036.5
2 Securities in bank credit 856.5 880.5
3 U.S. government securities 520.0 536.0
4 Trading account 43.6 38.7
5 Investment account 476.4 497.3
6 Other securities 336.6 344.5
7 Trading account 183.4 188.0
8 Investment account 153.2 156.5
9 State and local government 31.3 32.2
10 Other 121.9 124.3
11 Loans and leases in bank credit (2) 2,144.7 2,156.0
12 Commercial and industrial 468.0 461.1
13 Bankers acceptances .0 .0
14 Other 468.0 461.0
15 Real estate 1,058.3 1,066.4
16 Revolving home equity 152.5 156.0
17 Other 905.7 910.4
18 Consumer 290.2 291.9
19 Security (3) 82.5 80.9
20 Federal funds sold to and
repurchase agreements
with broker-dealers 63.0 63.5
21 Other 19.5 17.4
22 State and local government 12.4 12.7
23 Agricultural 7.5 7.4
24 Federal funds sold to and
repurchase agreements with
others 26.9 28.3
25 All other loans 89.1 96.8
26 Lease-financing receivables 109.8 110.7
27 Interbank loans 169.2 163.5
28 Federal funds sold to and
repurchase agreements with
commercial banks 99.7 96.7
29 Other 69.5 66.8
30 Cash assets (4) 132.6 141.3
31 Other assets (5) 356.9 359.6
32 Total assets (6) 3,615.8 3,656.7
Liabilities
33 Deposits 2,034.5 2,063.6
34 Transaction 296.8 299.6
35 Nontransaction 1,737.7 1,764.0
36 Large time 278.9 270.9
37 Other 1,458.8 1,493.0
38 Borrowings 712.2 735.7
39 From banks in the U.S. 200.4 213.4
40 From other 511.7 522.3
41 Net due to related foreign offices 210.2 193.3
42 Other liabilities 294.2 301.6
43 Total liabilities 3,251.0 3,294.2
44 Residual (assets less liabilities) (7) 364.7 362.5
Not seasonally adjusted
Assets
45 Bank credit 3,002.2 3,038.8
46 Securities in bank credit 855.1 874.9
47 U.S. government securities 518.8 531.7
48 Trading account 43.5 38.4
49 Investment account 475.2 493.3
Mortgage-backed securities 380.2 389.4
51 Other 95.0 103.9
52 One year or less 23.2 24.3
53 One to five years 55.2 57.3
54 More than five years 16.7 22.3
55 Other securities 336.3 343.1
56 Trading account 183.2 187.3
57 Investment account 153.1 155.8
58 State and local government 31.3 32.1
59 Other 121.8 123.8
60 Loans and leases in bank credit (2) 2,147.2 2,163.9
61 Commercial and industrial 471.1 463.3
62 Bankers acceptances .0 .0
63 Other 471.1 463.3
64 Real estate 1,062.0 1,068.8
65 Revolving home equity 153.7 156.9
66 Other 588.2 591.4
67 Commercial 320.8 320.5
68 Consumer 291.1 292.0
69 Credit cards and related plans 103.8 104.8
70 Other 187.3 187.2
71 Security (3) 77.3 82.0
72 Federal funds sold to and
repurchase agreements
with broker-dealers 59.0 64.4
73 Other 18.3 17.6
74 State and local government 12.4 12.7
75 Agricultural 7.6 7.5
76 Federal funds sold to and
repurchase agreements
with others 26.9 28.3
77 All other loans 89.5 98.9
78 Lease-financing receivables 109.8 110.3
79 Interbank loans 170.0 167.8
80 Federal funds sold to and
repurchase agreements
with commercial bank 100.2 99.2
81 Other 69.8 68.6
82 Cash asset (4) 131.7 136.9
83 Other assets (5) 354.7 355.6
84 Total assets (6) 3,614.2 3,654.6
Liabilities
85 Deposits 2,030.1 2,064.0
86 Transaction 292.5 296.8
87 Nontransaction 1,737.6 1,767.2
88 Large time 277.1 270.5
89 Other 1,460.6 1,496.7
90 Borrowings 717.9 734.8
91 From banks in the U.S. 202.8 211.6
92 From nonbanks in the U.S. 515.1 523.2
93 Net due to related foreign offices 209.3 192.2
94 Other liabilities 293.1 300.0
95 Total liabilities 3,250.5 3,291.0
96 Residual (assets less liabilities) (7) 363.7 363.6
Wednesday figures
Account 2003
June 4 June 11
Seasonally adjusted
Assets
1 Bank credit 3,030.6 3,026.3
2 Securities in bank credit 886.0 872.4
3 U.S. government securities 534.3 530.3
4 Trading account 44.2 42.8
5 Investment account 490.2 487.5
6 Other securities 351.7 342.1
7 Trading account 199.0 199.6
8 Investment account 152.7 152.5
9 State and local government 31.7 31.8
10 Other 121.0 120.7
11 Loans and leases in bank credit (2) 2,144.6 2,153.9
12 Commercial and industrial 461.5 459.1
13 Bankers acceptances n.a. n.a.
14 Other 461.5 459.1
15 Real estate 1,062.1 1,075.8
16 Revolving home equity 154.1 155.1
17 Other 908.1 920.8
18 Consumer 292.3 293.5
19 Security (3) 84.2 79.6
20 Federal funds sold to and
repurchase agreements
with broker-dealers 66.7 62.4
21 Other 17.5 17.2
22 State and local government 12.7 12.6
23 Agricultural 7.5 7.4
24 Federal funds sold to and
repurchase agreements with
others 27.3 27.4
25 All other loans 85.6 87.3
26 Lease-financing receivables 111.3 111.1
27 Interbank loans 162.4 162.8
28 Federal funds sold to and
repurchase agreements with
commercial banks 97.5 94.8
29 Other 64.9 67.9
30 Cash assets (4) 124.7 146.2
31 Other assets (5) 358.9 371.2
32 Total assets (6) 3,632.6 3,662.3
Liabilities
33 Deposits 2,042.4 2,039.5
34 Transaction 274.5 295.9
35 Nontransaction 1,768.0 1,743.6
36 Large time 277.7 260.1
37 Other 1,490.3 1,483.6
38 Borrowings 728.8 740.2
39 From banks in the U.S. 213.1 217.3
40 From other 515.8 522.9
41 Net due to related foreign offices 191.9 204.5
42 Other liabilities 304.3 312.2
43 Total liabilities 3,267.4 3,296.5
44 Residual (assets less liabilities) (7) 365.1 365.8
Not seasonally adjusted
Assets
45 Bank credit 3,043.6 3,032.9
46 Securities in bank credit 891.0 873.0
47 U.S. government securities 538.7 530.0
48 Trading account 44.5 42.8
49 Investment account 494.2 487.2
Mortgage-backed securities 396.3 387.3
51 Other 97.9 99.9
52 One year or less 23.4 23.8
53 One to five years 56.0 56.4
54 More than five years 18.5 19.7
55 Other securities 352.4 343.0
56 Trading account 199.4 190.1
57 Investment account 153.0 152.9
58 State and local government 31.7 31.9
59 Other 121.2 121.0
60 Loans and leases in bank credit (2) 2,152.6 2,160.0
61 Commercial and industrial 464.3 459.8
62 Bankers acceptances n.a. n.a.
63 Other 464.3 459.8
64 Real estate 1,066.8 1,080.9
65 Revolving home equity 154.9 155.9
66 Other 591.7 604.4
67 Commercial 320.2 320.6
68 Consumer 293.0 293.5
69 Credit cards and related plans 106.1 106.0
70 Other 186.9 187.4
71 Security (3) 81.9 80.8
72 Federal funds sold to and
repurchase agreements
with broker-dealers 64.9 63.4
73 Other 17.0 17.5
74 State and local government 12.7 12.6
75 Agricultural 7.5 7.5
76 Federal funds sold to and
repurchase agreements
with others 27.3 27.4
77 All other loans 88.0 96.7
78 Lease-financing receivables 111.1 110.7
79 Interbank loans 166.9 162.9
80 Federal funds sold to and
repurchase agreements
with commercial bank 100.1 94.9
81 Other 66.8 68.0
82 Cash asset (4) 129.7 132.9
83 Other assets (5) 356.6 365.1
84 Total assets (6) 3,652.3 3,649.3
Liabilities
85 Deposits 2,062.1 2,043.6
86 Transaction 280.0 286.5
87 Nontransaction 1,782.1 1,757.1
88 Large time 278.6 261.9
89 Other 1,503.5 1,495.2
90 Borrowings 731.8 721.7
91 From banks in the U.S. 214.5 212.0
92 From nonbanks in the U.S. 517.3 509.7
93 Net due to related foreign offices 191.8 203.8
94 Other liabilities 304.1 310.9
95 Total liabilities 3,289.8 3,279.9
96 Residual (assets less liabilities) (7) 362.5 369.4
Wednesday figures
Account 2003
June 18 June 25
Seasonally adjusted
Assets
1 Bank credit 3,019.8 3,013.4
2 Securities in bank credit 873.9 880.4
3 U.S. government securities 537.3 537.6
4 Trading account 36.5 32.2
5 Investment account 500.8 505.4
6 Other securities 336.6 342.8
7 Trading account 182.3 186.7
8 Investment account 154.3 156.1
9 State and local government 32.4 32.6
10 Other 121.9 123.4
11 Loans and leases in bank credit (2) 2,146.0 2,133.0
12 Commercial and industrial 459.2 459.5
13 Bankers acceptances n.a. na.
14 Other 459.2 459.5
15 Real estate 1,061.9 1,051.6
16 Revolving home equity 155.7 157.1
17 Other 906.2 894.5
18 Consumer 293.6 291.8
19 Security (3) 82.0 81.5
20 Federal funds sold to and
repurchase agreements
with broker-dealers 65.3 63.0
21 Other 16.8 18.5
22 State and local government 12.6 12.8
23 Agricultural 7.4 7.3
24 Federal funds sold to and
repurchase agreements with
others 28.2 27.1
25 All other loans 90.1 91.2
26 Lease-financing receivables 110.9 110.2
27 Interbank loans 162.5 169.1
28 Federal funds sold to and
repurchase agreements with
commercial banks 96.9 98.6
29 Other 65.6 69.5
30 Cash assets (4) 131.9 157.6
31 Other assets (5) 352.0 363.9
32 Total assets (6) 3,622.0 3,658.7
Liabilities
33 Deposits 2,060.5 2,075.9
34 Transaction 298.0 331.2
35 Nontransaction 1,762.6 1,744.7
36 Large time 273.6 269.1
37 Other 1,488.9 1,475.6
38 Borrowings 721.6 712.2
39 From banks in the U.S. 201.4 223.1
40 From other 520.2 489.1
41 Net due to related foreign offices 185.2 191.7
42 Other liabilities 296.2 301.4
43 Total liabilities 3,263.4 3,281.1
44 Residual (assets less liabilities) (7) 358.6 377.5
Not seasonally adjusted
Assets
45 Bank credit 3,025.4 3,000.4
46 Securities in bank credit 867.7 866.6
47 U.S. government securities 532.5 527.0
48 Trading account 36.2 31.6
49 Investment account 496.3 495.4
Mortgage-backed securities 388.9 388.8
51 Other 107.5 106.7
52 One year or less 25.2 23.7
53 One to five years 593.0 58.0
54 More than five years 23.0 24.9
55 Other securities 335.2 339.5
56 Trading account 181.5 185.0
57 Investment account 153.6 154.6
58 State and local government 32.2 32.3
59 Other 121.4 122.3
60 Loans and leases in bank credit (2) 2,157.7 2,133.8
61 Commercial and industrial 461.9 461.1
62 Bankers acceptances n.a. n.a.
63 Other 461.9 461.1
64 Real estate 1,064.0 1,051.4
65 Revolving home equity 157.1 158.1
66 Other 586.3 572.4
67 Commercial 320.7 320.8
68 Consumer 294.0 292.1
69 Credit cards and related plans 106.7 104.7
70 Other 187.3 187.4
71 Security (3) 87.1 81.3
72 Federal funds sold to and
repurchase agreements
with broker-dealers 69.3 62.9
73 Other 17.8 18.5
74 State and local government 12.6 12.8
75 Agricultural 7.5 7.5
76 Federal funds sold to and
repurchase agreements
with others 28.2 27.1
77 All other loans 91.9 90.9
78 Lease-financing receivables 110.4 109.7
79 Interbank loans 168.7 167.7
80 Federal funds sold to and
repurchase agreements
with commercial bank 100.5 98.4
81 Other 68.2 69.3
82 Cash asset (4) 132.6 142.5
83 Other assets (5) 346.8 355.8
84 Total assets (6) 3,629.2 3,622.1
Liabilities
85 Deposits 2,065.3 2,042.7
86 Transaction 299.3 311.9
87 Nontransaction 1,766.0 1,730.8
88 Large time 274.1 266.6
89 Other 1,491.9 1,464.2
90 Borrowings 730.6 717.0
91 From banks in the U.S. 201.8 220.8
92 From nonbanks in the U.S. 528.8 496.2
93 Net due to related foreign offices 182.6 192.4
94 Other liabilities 292.1 302.1
95 Total liabilities 3,270.6 3,254.1
96 Residual (assets less liabilities) (7) 358.6 368.0
D. Small domestically chartered commercial banks
Billions of dollars
Monthly averages
Account 2002 2002
June (r) Dec. (r)
Seasonally adjusted
Assets
1 Bank credit 2,263.1 2,384.5
2 Securities in bank credit 636.7 668.9
3 U.S. government securities 429.5 461.9
4 Other securities 207.2 207.0
5 Loans and leases in bank credit (2) 1,626.5 1,715.5
6 Commercial and industrial 285.6 296.2
7 Real estate 952.0 1,016.0
8 Revolving home equity 68.1 76.7
9 Other 883.9 939.3
10 Consumer 284.1 291.2
11 Security (3) 6.6 7.5
12 Other loans and leases 98.2 104.6
13 Interbank loans 86.8 107.6
14 Cash assets (4) 114.6 122.5
15 Other assets 138.8 141.1
16 Total assets (5) 2,572.9 2,723.6
Liabilities
17 Deposits 2,016.3 2,088.0
18 Transaction 295.0 311.1
19 Nontransaction 1,721.4 1,776.9
20 Large time 297.5 307.4
21 Other 1,423.9 1,469.5
22 Borrowings 331.9 388.3
23 From banks in the U.S. 114.8 137.9
24 From others 217.1 250.4
25 Net due to related foreign offices 11.7 12.4
26 Other liabilities 63.1 63.9
27 Total liabilities 2,423.0 2,552.6
28 Residual (assets less liabilities) (7) 149.9 171.6
Not seasonally adjusted
Assets
29 Bank credit 2,260.8 2,396.0
30 Securities in bank credit 636.3 670.5
31 U.S. government securities 429.1 463.5
32 Other securities 207.2 207.0
33 Loans and leases in bank credit (2) 1,624.5 1,725.5
34 Commercial and industrial 287.8 296.0
35 Real estate 951.0 1,019.3
36 Revolving home equity 68.1 77.2
37 Other 882.9 942.2
38 Consumer 280.3 297.5
39 Credit cards and related plans 108.2 121.2
40 Other 172.1 176.3
41 Security (3) 6.5 7.7
42 Other loans and leases 98.9 105.0
43 Interbank loans 84.5 110.1
44 Cash assets (4) 112.8 129.8
45 Other assets (5) 138.8 141.1
46 Total assets (6) 2,566.3 2,745.0
Liabilities
47 Deposits 2,007.5 2,111.4
48 Transaction 293.0 322.7
49 Nontransaction 1,714.5 1,788.7
50 Large time 297.5 307.4
51 Other 1,417.1 1,481.3
52 Borrowings 331.9 388.3
53 From banks in the U.S. 114.8 137.9
54 From others 217.1 250.4
55 Net due to relined foreign offices 11.7 12.4
56 Other liabilities 63.1 63.9
57 Total liabilities 2,414.2 2,576.0
58 Residual (assess less liabilities) (7) 152.2 169.0
Monthly averages
Account 2003
Jan. (r) Feb. (r)
Seasonally adjusted
Assets
1 Bank credit 2,309.1 2,407.5
2 Securities in bank credit 667.4 669.4
3 U.S. government securities 459.8 462.8
4 Other securities 207.7 206.5
5 Loans and leases in bank credit (2) 1,722.7 1,738.2
6 Commercial and industrial 295.7 297.5
7 Real estate 1,018.3 1,029.9
8 Revolving home equity 77.8 80.5
9 Other 940.4 949.4
10 Consumer 294.8 296.7
11 Security (3) 8.0 8.2
12 Other loans and leases 105.9 105.9
13 Interbank loans 114.7 117.6
14 Cash assets (4) 124.1 128.8
15 Other assets 141.0 144.2
16 Total assets (5) 2,738.1 2,766.7
Liabilities
17 Deposits 2,096.6 2,108.0
18 Transaction 310.0 313.2
19 Nontransaction 1,786.6 1,794.8
20 Large time 306.7 310.0
21 Other 1,479.9 1,484.8
22 Borrowings 406.5 409.9
23 From banks in the U.S. 156.0 160.6
24 From others 250.4 249.3
25 Net due to related foreign offices 15.1 12.6
26 Other liabilities 71.0 76.1
27 Total liabilities 2,589.1 2,606.6
28 Residual (assets less liabilities) (7) 149.0 160.2
Not seasonally adjusted
Assets
29 Bank credit 2,392.1 2,404.4
30 Securities in bank credit 669.2 670.2
31 U.S. government securities 461.5 463.7
32 Other securities 207.7 206.5
33 Loans and leases in bank credit (2) 1,722.9 1,734.2
34 Commercial and industrial 294.2 296.0
35 Real estate 1,019.8 1,029.9
36 Revolving home equity 78.1 80.5
37 Other 941.7 949.4
38 Consumer 297.7 296.7
39 Credit cards and related plans 118.7 116.1
40 Other 178.9 180.6
41 Security (3) 7.6 8.1
42 Other loans and leases 103.6 103.4
43 Interbank loans 108.3 116.6
44 Cash assets (4) 128.3 128.4
45 Other assets (5) 141.0 144.2
46 Total assets (6) 2,737.9 2,762.1
Liabilities
47 Deposits 2,102.8 2,114.8
48 Transaction 314.9 309.9
49 Nontransaction 1,787.9 1,804.9
50 Large time 306.7 310.0
51 Other 1,481.1 1,494.9
52 Borrowings 406.5 409.9
53 From banks in the U.S. 156.0 160.6
54 From others 250.4 249.3
55 Net due to relined foreign offices 15.1 12.6
56 Other liabilities 71.0 76.1
57 Total liabilities 2,595.4 2,613.3
58 Residual (assess less liabilities) (7) 142.5 148.8
Monthly averages
Account 2003
Mar. (r) Apr. (r)
Seasonally adjusted
Assets
1 Bank credit 2,423.9 2,444.1
2 Securities in bank credit 679.1 690.4
3 U.S. government securities 472.9 485.8
4 Other securities 206.2 204.6
5 Loans and leases in bank credit (2) 1,744.7 1,753.7
6 Commercial and industrial 298.2 297.8
7 Real estate 1,037.5 1,048.7
8 Revolving home equity 82.8 84.6
9 Other 954.7 964.1
10 Consumer 295.3 293.8
11 Security (3) 8.2 8.2
12 Other loans and leases 105.6 105.2
13 Interbank loans 116.6 113.9
14 Cash assets (4) 131.7 133.8
15 Other assets 146.3 149.5
16 Total assets (5) 2,787.4 2,810.3
Liabilities
17 Deposits 2,133.9 2,149.4
18 Transaction 317.4 325.2
19 Nontransaction 1,816.5 1,824.2
20 Large time 314.7 315.1
21 Other 1,501.8 1,509.1
22 Borrowings 406.8 412.6
23 From banks in the U.S. 158.9 160.9
24 From others 247.9 251.7
25 Net due to related foreign offices 10.7 12.8
26 Other liabilities 79.9 80.6
27 Total liabilities 2,631.3 2,655.4
28 Residual (assets less liabilities) (7) 156.0 154.9
Not seasonally adjusted
Assets
29 Bank credit 2,420.6 2,442.3
30 Securities in bank credit 681.8 691.9
31 U.S. government securities 475.6 487.3
32 Other securities 206.2 204.6
33 Loans and leases in bank credit (2) 1,738.8 1,750.4
34 Commercial and industrial 298.1 300.0
35 Real estate 1,035.4 1,046.9
36 Revolving home equity 82.5 84.4
37 Other 952.9 962.5
38 Consumer 292.5 290.4
39 Credit cards and related plans 113.8 111.7
40 Other 178.7 178.7
41 Security (3) 8.4 8.4
42 Other loans and leases 104.4 104.7
43 Interbank loans 123.0 121.7
44 Cash assets (4) 127.0 131.6
45 Other assets (5) 146.3 149.5
46 Total assets (6) 2,785.9 2,814.1
Liabilities
47 Deposits 2,138.9 2,161.1
48 Transaction 313.8 325.5
49 Nontransaction 1,825.1 1,835.6
50 Large time 314.7 315.1
51 Other 1,510.5 1,520.5
52 Borrowings 406.8 412.6
53 From banks in the U.S. 158.9 160.9
54 From others 247.9 251.7
55 Net due to relined foreign offices 10.7 12.8
56 Other liabilities 79.9 80.6
57 Total liabilities 2,636.3 2,667.1
58 Residual (assess less liabilities) (7) 149.6 146.9
Monthly averages
Account 2003
May (r) June
Seasonally adjusted
Assets
1 Bank credit 2,454.5 2,473.5
2 Securities in bank credit 689.5 688.4
3 U.S. government securities 485.0 486.9
4 Other securities 204.5 201.5
5 Loans and leases in bank credit (2) 1,765.0 1,785.0
6 Commercial and industrial 297.5 298.0
7 Real estate 1,056.3 1,071.1
8 Revolving home equity 85.9 88.9
9 Other 970.4 982.3
10 Consumer 297.6 300.6
11 Security (3) 8.7 9.2
12 Other loans and leases 104.9 106.2
13 Interbank loans 125.0 128.7
14 Cash assets (4) 132.9 134.0
15 Other assets 157.6 159.9
16 Total assets (5) 2,838.9 2,864.8
Liabilities
17 Deposits 2,173.4 2,192.7
18 Transaction 325.6 326.7
19 Nontransaction 1,847.8 1,866.0
20 Large time 316.4 318.9
21 Other 1,531.4 1,547.1
22 Borrowings 420.6 425.2
23 From banks in the U.S. 157.8 159.6
24 From others 262.8 265.6
25 Net due to related foreign offices 12.4 12.0
26 Other liabilities 83.1 84.2
27 Total liabilities 2,689.5 2,714.0
28 Residual (assets less liabilities) (7) 149.4 150.8
Not seasonally adjusted
Assets
29 Bank credit 2,452.9 2,471.1
30 Securities in bank credit 688.7 688.0
31 U.S. government securities 484.2 486.5
32 Other securities 204.5 201.5
33 Loans and leases in bank credit (2) 1,764.2 1,783.2
34 Commercial and industrial 300.0 300.2
35 Real estate 1,055.7 1,070.0
36 Revolving home equity 85.9 88.8
37 Other 969.8 981.2
38 Consumer 295.6 297.1
39 Credit cards and related plans 116.6 116.6
40 Other 178.9 180.5
41 Security (3) 8.5 9.1
42 Other loans and leases 104.4 106.8
43 Interbank loans 119.9 125.6
44 Cash assets (4) 131.8 131.8
45 Other assets (5) 157.6 159.9
46 Total assets (6) 2,831.1 2,857.3
Liabilities
47 Deposits 2,165.3 2,183.1
48 Transaction 320.1 324.4
49 Nontransaction 1,845.2 1,858.7
50 Large time 316.4 318.9
51 Other 1,528.8 1,539.8
52 Borrowings 420.6 425.2
53 From banks in the U.S. 157.8 159.6
54 From others 262.8 265.6
55 Net due to relined foreign offices 12.4 12.0
56 Other liabilities 83.1 84.2
57 Total liabilities 2,681.4 2,704.5
58 Residual (assess less liabilities) (7) 149.7 152.8
Wednesday figures
Account 2003
June 4 June 11
Seasonally adjusted
Assets
1 Bank credit 2,465.2 2,468.8
2 Securities in bank credit 690.3 689.2
3 U.S. government securities 486.7 486.0
4 Other securities 203.6 203.2
5 Loans and leases in bank credit (2) 1,774.9 1,779.6
6 Commercial and industrial 2,983.4 297.9
7 Real estate 1,064.1 1,069.2
8 Revolving home equity 88.0 88.3
9 Other 976.0 980.9
10 Consumer 297.8 298.4
11 Security (3) 9.0 8.9
12 Other loans and leases 105.7 105.2
13 Interbank loans 127.7 122.9
14 Cash assets (4) 125.7 137.0
15 Other assets 159.2 162.6
16 Total assets (5) 2,846.9 2,860.4
Liabilities
17 Deposits 2,188.1 2,190.6
18 Transaction 312.2 318.5
19 Nontransaction 1,875.9 1,872.1
20 Large time 318.7 320.3
21 Other 1,557.2 1,551.8
22 Borrowings 411.8 421.8
23 From banks in the U.S. 153.1 156.5
24 From others 258.8 265.3
25 Net due to related foreign offices 11.8 10.0
26 Other liabilities 84.2 84.5
27 Total liabilities 2,695.9 2,706.9
28 Residual (assets less liabilities) (7) 150.9 153.4
Not seasonally adjusted
Assets
29 Bank credit 2,460.9 2,467.1
30 Securities in bank credit 688.3 688.6
31 U.S. government securities 484.8 485.5
32 Other securities 203.6 203.2
33 Loans and leases in bank credit (2) 1,772.5 1,778.5
34 Commercial and industrial 300.2 299.7
35 Real estate 1,062.1 1,068.9
36 Revolving home equity 87.8 88.4
37 Other 974.3 980.5
38 Consumer 294.3 294.5
39 Credit cards and related plans 114.7 114.5
40 Other 179.6 180.0
41 Security (3) 9.3 9.1
42 Other loans and leases 106.6 106.3
43 Interbank loans 132.4 128.2
44 Cash assets (4) 131.9 129.6
45 Other assets (5) 159.2 162.6
46 Total assets (6) 2,853.4 2,856.5
Liabilities
47 Deposits 2,191.2 2,186.3
48 Transaction 316.6 314.8
49 Nontransaction 1,874.5 1,871.5
50 Large time 318.7 320.3
51 Other 1,555.8 1,551.2
52 Borrowings 411.8 421.8
53 From banks in the U.S. 153.1 156.5
54 From others 258.8 265.3
55 Net due to relined foreign offices 11.8 10.0
56 Other liabilities 84.2 84.5
57 Total liabilities 2,699.0 2,702.6
58 Residual (assess less liabilities) (7) 154.4 153.9
Wednesday figures
Account 2003
June 18 June 25
Seasonally adjusted
Assets
1 Bank credit 2,486.0 2,474.6
2 Securities in bank credit 689.2 687.1
3 U.S. government securities 488.8 488.0
4 Other securities 200.5 199.1
5 Loans and leases in bank credit (2) 1,796.8 1,787.5
6 Commercial and industrial 299.8 297.0
7 Real estate 1,074.9 1,072.6
8 Revolving home equity 89.5 89.0
9 Other 985.4 983.6
10 Consumer 306.3 300.4
11 Security (3) 9.2 9.7
12 Other loans and leases 106.6 107.9
13 Interbank loans 129.1 138.4
14 Cash assets (4) 130.5 141.3
15 Other assets 156.0 155.3
16 Total assets (5) 2,870.3 2,878.4
Liabilities
17 Deposits 2,188.5 2,197.6
18 Transaction 327.7 349.7
19 Nontransaction 1,860.9 1,847.9
20 Large time 318.7 318.8
21 Other 1,542.2 1,529.1
22 Borrowings 429.5 432.5
23 From banks in the U.S. 160.9 164.3
24 From others 268.6 268.2
25 Net due to related foreign offices 13.5 12.6
26 Other liabilities 83.8 84.8
27 Total liabilities 2,715.3 2,727.5
28 Residual (assets less liabilities) (7) 155.0 150.9
Not seasonally adjusted
Assets
29 Bank credit 2,473.4 2,475.6
30 Securities in bank credit 687.5 688.4
31 U.S. government securities 487.0 489.3
32 Other securities 200.5 199.1
33 Loans and leases in bank credit (2) 1,786.0 1,787.2
34 Commercial and industrial 300.7 299.7
35 Real estate 1,069.5 1,072.9
36 Revolving home equity 88.9 89.1
37 Other 980.6 983.7
38 Consumer 300.2 298.4
39 Credit cards and related plans 119.2 117.6
40 Other 181.0 180.8
41 Security (3) 9.0 9.0
42 Other loans and leases 106.6 107.2
43 Interbank loans 124.4 122.8
44 Cash assets (4) 128.5 131.2
45 Other assets (5) 156.0 155.3
46 Total assets (6) 2,851.1 2,853.6
Liabilities
47 Deposits 2,172.6 2,170.0
48 Transaction 324.7 337.6
49 Nontransaction 1,847.9 1,832.4
50 Large time 318.7 319.8
51 Other 1,529.2 1,513.6
52 Borrowings 429.5 432.5
53 From banks in the U.S. 160.9 164.3
54 From others 268.6 268.2
55 Net due to relined foreign offices 13.5 12.6
56 Other liabilities 83.8 84.8
57 Total liabilities 2,699.4 2,699.9
58 Residual (assess less liabilities) (7) 151.7 153.8
E. Foreign related institutions
Billions of dollars
Monthly averages
Account 2002 2002
June Dec.
Seasonally adjusted
Assets
1 Bank credit 603.5 641.5 (r)
2 Securities in bank credit 236.0 267.2 (r)
3 U.S. government securities 76.0 107.5 (r)
4 Other securities 160.0 159.7
5 Loans and leases in bank credit (2) 367.6 374.3
6 Commercial and industrial 192.1 178.4
7 Real State 18.4 19.5
8 Security (3) 85.9 110.1
9 Other loans and leases 71.1 66.3
10 Interbank loans 20.2 30.0
11 Cash assets (4) 46.9 44.6
12 Other assets (5) 27.3 31.6 (r)
13 Total assets (6) 697.6 747.3 (r)
Liabilities
14 Deposits 505.4 425.5
15 Transaction 10.4 9.2
16 Nontransaction 495.0 416.4
17 Borrowings 193.0 282.7 (r)
18 From banks in the U.S. 20.7 30.0
19 From others 172.2 252.7 (r)
20 Net due to related foreign offices -86.7 -60.1
21 Other liabilities 84.2 96.9 (r)
22 Total liabilities 695.8 745.1 (r)
23 Residual (assets less liabilities) (7) 1.8 2.2 (r)
Not seasonally adjusted
Assets
24 Bank credit 600.8 651.5 (r)
25 Securities in bank credit 236.0 267.2 (r)
26 U.S. government securities 76.0 107.5 (r)
27 Trading account 10.4 30.6
28 Investment account 65.5 76.9 (r)
29 Other securities 160.0 159.7
30 Trading account 104.5 101.2
31 Investment account 55.5 58.4
32 Loans and leases in bank credit (2) 364.9 384.3
33 Commercial and industrial 191.5 179.8
34 Real estate 18.4 19.5
35 Security (3) 84.2 116.7
36 Other loans and leases 70.7 68.3
37 Interbank loans 20.2 30.0
38 Cash assets (4) 44.7 47.8
39 Other assets (5) 26.2 32.5 (r)
40 Total assets (6) 691.6 761.5 (r)
Liabilities
41 Deposits 503.3 436.4
42 Transaction 10.1 10.0
43 Nontransaction 493.2 426.4
44 Borrowings 193.0 282.7 (r)
45 From banks in the U.S. 20.7 30.0
46 From other 172.2 252.7 (r)
47 Net due to related foreign offices -89.0 -58.4
48 Other liabilities 83.1 98.0 (r)
49 Total liabilities 690.3 758.7 (r)
50 Residual (assets less liabilities) (7) 1.3 2.7 (r)
Monthly averages
Account 2003
Jan. Feb.
Seasonally adjusted
Assets
1 Bank credit 633.6 (r) 646.7 (r)
2 Securities in bank credit 268.5 (r) 279.1 (r)
3 U.S. government securities 109.4 (r) 116.4 (r)
4 Other securities 159.1 162.7
5 Loans and leases in bank credit (2) 365.1 367.6
6 Commercial and industrial 177.2 174.1
7 Real State 19.7 19.7
8 Security (3) 103.4 108.1
9 Other loans and leases 64.8 65.6
10 Interbank loans 28.1 27.0
11 Cash assets (4) 40.1 38.7
12 Other assets (5) 34.6 (r) 35.1 (r)
13 Total assets (6) 735.9 (r) 747.1 (r)
Liabilities
14 Deposits 426.6 442.9
15 Transaction 9.7 10.3
16 Nontransaction 416.8 432.6
17 Borrowings 273.6 (r) 274.7 (r)
18 From banks in the U.S. 31.0 31.1
19 From others 242.6 (r) 243.6 (r)
20 Net due to related foreign offices -70.4 -78.4
21 Other liabilities 95.8 (r) 99.9 (r)
22 Total liabilities 725.6 (r) 739.0 (r)
23 Residual (assets less liabilities) (7) 10.3 (r) 8.1 (r)
Not seasonally adjusted
Assets
24 Bank credit 641.3 (r) 651.1 (r)
25 Securities in bank credit 268.5 (r) 279.1 (r)
26 U.S. government securities 109.4 (r) 116.4 (r)
27 Trading account 32.6 36.4
28 Investment account 76.8 (r) 80.0 (r)
29 Other securities 159.1 162.7
30 Trading account 101.9 102.0
31 Investment account 57.2 60.7
32 Loans and leases in bank credit (2) 372.8 372.0
33 Commercial and industrial 177.3 175.6
34 Real estate 19.7 19.7
35 Security (3) 110.4 111.0
36 Other loans and leases 65.5 65.7
37 Interbank loans 28.1 27.0
38 Cash assets (4) 43.1 39.7
39 Other assets (5) 35.7 (r) 35.6 (r)
40 Total assets (6) 747.9 (r) 753.0 (r)
Liabilities
41 Deposits 442.7 453.0
42 Transaction 10.0 10.3
43 Nontransaction 432.7 442.8
44 Borrowings 273.6 (r) 274.7 (r)
45 From banks in the U.S. 31.0 31.1
46 From other 242.6 (r) 243.6 (r)
47 Net due to related foreign offices -67.8 -77.3
48 Other liabilities 97.4 (r) 100.7 (r)
49 Total liabilities 746.0 (r) 751.1 (r)
50 Residual (assets less liabilities) (7) 1.9 (r) 1.9 (r)
Monthly averages
Account 2003
Mar. (r) Apr. (r)
Seasonally adjusted
Assets
1 Bank credit 663.6 654.7
2 Securities in bank credit 284.0 277.5
3 U.S. government securities 122.6 125.4
4 Other securities 161.3 152.1
5 Loans and leases in bank credit (2) 379.7 377.2
6 Commercial and industrial 171.7 172.1
7 Real State 19.8 19.0
8 Security (3) 121.4 118.0
9 Other loans and leases 66.7 68.1
10 Interbank loans 27.2 22.5
11 Cash assets (4) 43.8 50.1
12 Other assets (5) 31.1 35.0
13 Total assets (6) 765.3 761.8
Liabilities
14 Deposits 448.4 436.4
15 Transaction 11.5 11.3
16 Nontransaction 436.9 425.1
17 Borrowings 293.4 298.7
18 From banks in the U.S. 33.7 27.5
19 From others 259.7 271.2
20 Net due to related foreign offices -83.8 -72.8
21 Other liabilities 95.4 91.2
22 Total liabilities 753.4 753.4
23 Residual (assets less liabilities) (7) 11.9 8.4
Not seasonally adjusted
Assets
24 Bank credit 661.8 654.5
25 Securities in bank credit 284.0 277.5
26 U.S. government securities 122.6 125.4
27 Trading account 37.2 39.7
28 Investment account 85.5 85.7
29 Other securities 161.3 152.1
30 Trading account 101.7 97.9
31 Investment account 59.7 542.0
32 Loans and leases in bank credit (2) 377.9 377.0
33 Commercial and industrial 173.2 171.1
34 Real estate 19.8 19.0
35 Security (3) 117.3 118.3
36 Other loans and leases 67.6 68.6
37 Interbank loans 27.2 22.5
38 Cash assets (4) 42.6 47.9
39 Other assets (5) 31.8 34.9
40 Total assets (6) 763.1 759.3
Liabilities
41 Deposits 452.5 442.4
42 Transaction 11.1 10.7
43 Nontransaction 441.3 431.7
44 Borrowings 293.4 298.7
45 From banks in the U.S. 33.7 27.5
46 From other 259.7 271.2
47 Net due to related foreign offices -81.5 -73.3
48 Other liabilities 97.0 90.9
49 Total liabilities 761.3 758.7
50 Residual (assets less liabilities) (7) 1.8 .6
Monthly averages
Account 2003
May (r) June
Seasonally adjusted
Assets
1 Bank credit 668.3 668.8
2 Securities in bank credit 288.8 287.9
3 U.S. government securities 130.9 129.1
4 Other securities 158.0 158.8
5 Loans and leases in bank credit (2) 379.4 381.0
6 Commercial and industrial 169.9 162.4
7 Real State 19.2 19.2
8 Security (3) 118.5 121.2
9 Other loans and leases 71.8 78.2
10 Interbank loans 24.7 30.8
11 Cash assets (4) 52.2 56.2
12 Other assets (5) 41.8 45.2
13 Total assets (6) 786.4 800.5
Liabilities
14 Deposits 438.7 450.6
15 Transaction 11.0 11.6
16 Nontransaction 427.7 439.0
17 Borrowings 307.1 318.9
18 From banks in the U.S. 31.6 32.5
19 From others 275.5 283.8
20 Net due to related foreign offices -77.8 -81.9
21 Other liabilities 105.5 110.0
22 Total liabilities 773.5 797.5
23 Residual (assets less liabilities) (7) 12.9 3.0
Not seasonally adjusted
Assets
24 Bank credit 663.6 665.4
25 Securities in bank credit 288.8 287.9
26 U.S. government securities 130.9 129.1
27 Trading account 40.3 42.9
28 Investment account 87.9 86.2
29 Other securities 158.0 158.8
30 Trading account 105.1 105.6
31 Investment account 52.9 53.2
32 Loans and leases in bank credit (2) 374.7 377.9
33 Commercial and industrial 168.1 161.9
34 Real estate 19.2 19.2
35 Security (3) 116.2 118.7
36 Other loans and leases 71.3 77.8
37 Interbank loans 24.7 30.8
38 Cash assets (4) 50.5 53.5
39 Other assets (5) 41.9 43.4
40 Total assets (6) 780.2 792.6
Liabilities
41 Deposits 444.1 448.7
42 Transaction 10.6 11.3
43 Nontransaction 433.6 437.5
44 Borrowings 307.1 318.9
45 From banks in the U.S. 31.6 35.2
46 From other 275.5 283.8
47 Net due to related foreign offices -77.5 -83.7
48 Other liabilities 105.8 108.4
49 Total liabilities 779.6 792.3
50 Residual (assets less liabilities) (7) .6 .3
Wednesday figures
Account 2003
June 4 June 11
Seasonally adjusted
Assets
1 Bank credit 678.7 681.1
2 Securities in bank credit 295.8 300.7
3 U.S. government securities 133.6 135.0
4 Other securities 162.1 165.7
5 Loans and leases in bank credit (2) 383.0 380.5
6 Commercial and industrial 163.9 163.3
7 Real State 19.1 19.1
8 Security (3) 123.4 121.4
9 Other loans and leases 76.6 76.6
10 Interbank loans 27.5 32.8
11 Cash assets (4) 53.3 58.1
12 Other assets (5) 45.2 44.8
13 Total assets (6) 804.3 816.4
Liabilities
14 Deposits 450.2 454.5
15 Transaction 11.2 11.2
16 Nontransaction 439.0 443.3
17 Borrowings 321.3 324.7
18 From banks in the U.S. 34.6 31.2
19 From others 286.7 293.5
20 Net due to related foreign offices -85.5 -85.7
21 Other liabilities 109.4 114.5
22 Total liabilities 795.4 808.0
23 Residual (assets less liabilities) (7) 8.9 8.3
Not seasonally adjusted
Assets
24 Bank credit 672.7 675.8
25 Securities in bank credit 295.8 300.7
26 U.S. government securities 133.6 135.0
27 Trading account 46.2 46.5
28 Investment account 87.5 88.5
29 Other securities 162.1 165.7
30 Trading account 108.4 111.1
31 Investment account 53.7 54.6
32 Loans and leases in bank credit (2) 376.9 375.2
33 Commercial and industrial 163.1 162.2
34 Real estate 19.1 19.1
35 Security (3) 118.0 117.3
36 Other loans and leases 76.9 76.5
37 Interbank loans 27.5 32.8
38 Cash assets (4) 51.9 55.1
39 Other assets (5) 44.3 43.7
40 Total assets (6) 796.0 806.9
Liabilities
41 Deposits 453.0 455.9
42 Transaction 10.8 10.4
43 Nontransaction 442.2 445.5
44 Borrowings 321.3 324.7
45 From banks in the U.S. 34.6 31.2
46 From other 286.7 293.5
47 Net due to related foreign offices -86.7 -87.2
48 Other liabilities 108.4 113.0
49 Total liabilities 796.0 806.4
50 Residual (assets less liabilities) (7) -.1 .5
Wednesday figures
Account 2003
June 18 June 25
Seasonally adjusted
Assets
1 Bank credit 665.3 665.3
2 Securities in bank credit 287.7 281.4
3 U.S. government securities 128.9 127.3
4 Other securities 158.9 154.1
5 Loans and leases in bank credit (2) 377.6 383.9
6 Commercial and industrial 162.3 160.9
7 Real State 19.0 19.5
8 Security (3) 118.4 124.1
9 Other loans and leases 77.9 79.5
10 Interbank loans 32.7 28.6
11 Cash assets (4) 56.8 54.5
12 Other assets (5) 48.5 44.4
13 Total assets (6) 802.8 792.4
Liabilities
14 Deposits 457.0 44.0
15 Transaction 11.4 11.8
16 Nontransaction 445.6 428.2
17 Borrowings 318.4 318.1
18 From banks in the U.S. 35.3 35.7
19 From others 283.2 282.4
20 Net due to related foreign offices -79.6 -77.4
21 Other liabilities 109.3 106.2
22 Total liabilities 805.2 787.0
23 Residual (assets less liabilities) (7) -2.3 5.4
Not seasonally adjusted
Assets
24 Bank credit 665.6 661.1
25 Securities in bank credit 287.7 281.4
26 U.S. government securities 128.9 127.3
27 Trading account 42.2 42.8
28 Investment account 86.7 84.4
29 Other securities 158.9 154.1
30 Trading account 105.1 102.7
31 Investment account 53.8 51.5
32 Loans and leases in bank credit (2) 377.9 379.7
33 Commercial and industrial 161.5 160.6
34 Real estate 19.0 19.5
35 Security (3) 119.9 121.3
36 Other loans and leases 77.5 78.3
37 Interbank loans 32.7 28.6
38 Cash assets (4) 54.1 51.6
39 Other assets (5) 46.3 42.1
40 Total assets (6) 798.2 782.9
Liabilities
41 Deposits 454.6 437.4
42 Transaction 11.0 11.4
43 Nontransaction 443.6 426.1
44 Borrowings 318.4 318.1
45 From banks in the U.S. 35.3 35.7
46 From other 283.2 282.4
47 Net due to related foreign offices -82.1 -78.4
48 Other liabilities 107.3 105.4
49 Total liabilities 798.2 782.6
50 Residual (assets less liabilities) (7) .0 .3
F. Memo items
Billions of dollars
Monthly averages
Account 2002 2002
June Dec.
Not seasonally adjusted
MEMO
Large domestically chartered bank,
adjusted for mergers
1 Revaluations gains on off-balance-
sheet items (8) 92.9 112.5
2 Revaluation losses on off-balance-
sheet items (8) 75.7 93.8
3 Mortgage-backed securities (9) 314.8 (r) 365.2 (r)
4 Pass-through 225.3 (r) 266.0 (r)
5 CMO, REMIC, and other 89.6 (r) 99.2 (r)
6 Net unrealized gains (losses) on
available-for-sale securities (10) 6.7 10.7
7 Off-shore credit to U.S. residents
(11) 19.6 18.7
8 Securitized consumer loans (12) 141.1 150.1
9 Credit cards and related plans 126.9 133.2
10 Other 14.2 16.9
11 Securitized business loans (12) 16.9 17.2
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 295.7 (r) 309.2 (r)
13 Securitized consumer loans (12) 207.3 201.3
14 Credit cards and related plans 200.3 192.5
15 Other 7.0 8.7
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 55.3 64.1
17 Revaluation losses on off-balance-
sheet items (8) 49.3 60.1
18 Securitized business loans (12) 9.9 6.8
Monthly averages
Account 2003
Jan. Feb.
Not seasonally adjusted
MEMO
Large domestically chartered bank,
adjusted for mergers
1 Revaluations gains on off-balance-
sheet items (8) 107.6 116.8
2 Revaluation losses on off-balance-
sheet items (8) 86.2 94.9
3 Mortgage-backed securities (9) 370.9 (r) 376.9 (r)
4 Pass-through 271.6 (r) 276.9 (r)
5 CMO, REMIC, and other 99.3 (r) 100.0 (r)
6 Net unrealized gains (losses) on
available-for-sale securities (10) 11.8 11.7
7 Off-shore credit to U.S. residents
(11) 18.3 18.2
8 Securitized consumer loans (12) 149.7 150.6
9 Credit cards and related plans 132.2 134.8
10 Other 17.5 15.8
11 Securitized business loans (12) 16.9 17.2
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 308.7 (r) 314.5 (r)
13 Securitized consumer loans (12) 205.4 204.2
14 Credit cards and related plans 197.0 195.8
15 Other 8.5 8.4
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 67.0 67.1
17 Revaluation losses on off-balance-
sheet items (8) 63.0 64.9
18 Securitized business loans (12) 5.6 4.6
Monthly averages
Account 2003
Mar. Apr.
Not seasonally adjusted
MEMO
Large domestically chartered bank,
adjusted for mergers
1 Revaluations gains on off-balance-
sheet items (8) 115.1 105.7
2 Revaluation losses on off-balance-
sheet items (8) 91.3 81.4
3 Mortgage-backed securities (9) 381.4 (r) 400.8 (r)
4 Pass-through 276.2 (r) 288.5 (r)
5 CMO, REMIC, and other 105.1 (r) 112.2 (r)
6 Net unrealized gains (losses) on
available-for-sale securities (10) 11.7 10.6
7 Off-shore credit to U.S. residents
(11) 18.2 17.5
8 Securitized consumer loans (12) 152.5 154.2
9 Credit cards and related plans 136.7 138.7
10 Other 15.8 15.5
11 Securitized business loans (12) 16.8 16.5
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 325.7 (r) 335.6 (r)
13 Securitized consumer loans (12) 202.8 205.2
14 Credit cards and related plans 194.3 196.9
15 Other 8.5 83.0
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 65.4 (r) 64.9 (r)
17 Revaluation losses on off-balance-
sheet items (8) 63.6 (r) 62.4 (r)
18 Securitized business loans (12) 4.1 3.3
Monthly averages
Account 2003
May June
Not seasonally adjusted
MEMO
Large domestically chartered bank,
adjusted for mergers
1 Revaluations gains on off-balance-
sheet items (8) 128.1 135.1
2 Revaluation losses on off-balance-
sheet items (8) 105.1 109.9
3 Mortgage-backed securities (9) 427.1 (r) 436.7
4 Pass-through 314.2 (r) 324.7
5 CMO, REMIC, and other 112.9 (r) 111.9
6 Net unrealized gains (losses) on
available-for-sale securities (10) 12.1 14.1
7 Off-shore credit to U.S. residents
(11) 17.3 16.6
8 Securitized consumer loans (12) 155.0 156.7
9 Credit cards and related plans 139.4 140.6
10 Other 15.5 16.1
11 Securitized business loans (12) 17.0 16.5
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 334.3 (r) 332.3
13 Securitized consumer loans (12) 205.0 205.0
14 Credit cards and related plans 196.8 196.9
15 Other 8.2 8.1
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 73.5 72.6
17 Revaluation losses on off-balance-
sheet items (8) 72.6 72.6
18 Securitized business loans (12) 3.0 2.5
Wednesday figures
Account 2003
June 4 June 11
Not seasonally adjusted
MEMO
Large domestically chartered bank,
adjusted for mergers
1 Revaluations gains on off-balance-
sheet items (8) 141.5 142.4
2 Revaluation losses on off-balance-
sheet items (8) 115.7 117.4
3 Mortgage-backed securities (9) 443.5 434.2
4 Pass-through 328.7 320.9
5 CMO, REMIC, and other 114.8 113.4
6 Net unrealized gains (losses) on
available-for-sale securities (10) 15.1 15.0
7 Off-shore credit to U.S. residents
(11) 16.7 16.6
8 Securitized consumer loans (12) 155.7 155.5
9 Credit cards and related plans 139.4 139.4
10 Other 16.2 16.1
11 Securitized business loans (12) 16.8 16.8
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 333.2 333.5
13 Securitized consumer loans (12) 206.5 206.7
14 Credit cards and related plans 198.4 198.6
15 Other 8.2 8.2
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 75.8 77.3
17 Revaluation losses on off-balance-
sheet items (8) 758.0 77.1
18 Securitized business loans (12) 3.1 3.1
Wednesday figures
Account 2003
June 18 June 25
Not seasonally adjusted
MEMO
Large domestically chartered bank,
adjusted for mergers
1 Revaluations gains on off-balance-
sheet items (8) 131.8 133.3
2 Revaluation losses on off-balance-
sheet items (8) 108.3 109.1
3 Mortgage-backed securities (9) 435.8 436.2
4 Pass-through 325.4 325.8
5 CMO, REMIC, and other 110.5 110.4
6 Net unrealized gains (losses) on
available-for-sale securities (10) 14.0 14.6
7 Off-shore credit to U.S. residents
(11) 16.7 17.3
8 Securitized consumer loans (12) 155.7 157.1
9 Credit cards and related plans 139.6 141.0
10 Other 16.1 16.0
11 Securitized business loans (12) 16.7 16.7
Small domestically chartered
commercial banks, adjusted for
mergers
12 Mortgage-backed securities (9) 332.3 333.4
13 Securitized consumer loans (12) 205.1 204.6
14 Credit cards and related plans 197.0 196.4
15 Other 8.1 8.1
Foreign-related institutions
16 Revaluation gains on off-balance-
sheet items (8) 71.6 70.1
17 Revaluation losses on off-balance-
sheet items (8) 71.7 69.9
18 Securitized business loans (12) 3.1 1.7
NOTE. Tables 1.26, 1.27, and 1.28 have been revised to reflect changes
in the Board's H.8 statistical release, "Assets and Liabilities of
Commercial Banks in the United States." Table 1.27, "Assets and
Liabilities of Large Weekly Reporting Commercial Banks," and table
1.28, "Large Weekly Reporting U.S. Branches and Agencies of Foreign
Banks" are no longer being published in the Bulletin. Instead,
abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26. parts C and D. Data
are both merger-adjusted and break-adjusted. In addition, data from
large weekly reporting U.S. branches and agencies of foreign banks have
been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are
break-adjusted.
The not-seasonally-adjusted data for all tables now contain additional
balance sheet items, which were available as of October 2, 1996.
(1.) Covers the following types of institutions in the fifty states
and the District of Columbia: domestically chartered commercial banks
that submit a weekly report of condition (large domestic); other
domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and agreement corporations
(foreign-related institutions). Excludes International Banking
Facilities. Data are Wednesday values or pro rata averages of
Wednesday values. Large domestic banks constitute a universe; data for
small domestic banks and foreign-related institutions are estimates
based on weekly samples and on quarter-end condition reports. Data are
adjusted for breaks caused by reclassifications of assets and
liabilities.
The data for large and small domestic hanks presented on pp A17-19 are
adjusted to remove the estimated effects of mergers between these two
groups. The adjustment for mergers changes past levels to make them
comparable with current levels. Estimated quantities of balance sheet
items acquired in mergers are removed from past data for the bank group
that contained the acquired bank and put into past data for the group
containing the acquiring bank Balance sheet data for acquired banks are
obtained from Call Reports, and a ratio procedure is used to adjust
past levels.
(2.) Excludes federal funds sold to, reverse RPs with and loans made
to commercial banks in the United States, all of which are included in
Interbank loans.
(3.) Consists of reverse RPs with brokers and dealers and loans to
purchase and carry securities.
(4.) Includes vault cash cash items in process of collection, balances
due from depository institutions, and balances due from Federal Reserve
Banks.
(5.) Excludes the due-from position with related foreign offices,
which is included in "Net due to related foreign offices."
(6.) Excludes unearned income reserves for losses on loans and leases,
and reserves for transfer risk. Loans are reported gross of these
items.
(7.) This balancing item is not intended its 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 tale, 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 OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
Item 1998 1999 2000
1 All issuers 1,163,303 1,403,023 1,619,274
Financial companies (1)
2 Dealer-placed paper, total (2) 614,142 786,643 963,070
3 Directly placed paper, total (3) 322,030 337,240 312,771
4 Nonfinancial companies (4) 227,132 279,140 343,433
Year ending December 2002
Item 2001 2002 Dec.
1 All issuers 1,458,870 1,347,997 1,347,997
Financial companies (1)
2 Dealer-placed paper, total (2) 967,748 976,163 976,163
3 Directly placed paper, total (3) 266,276 217,787 217,787
4 Nonfinancial companies (4) 224,847 154,047 154,047
2003
Item Jan. Feb. Mar.
1 All issuers 1,373,133 1,346,782 1,341,270
Financial companies (1)
2 Dealer-placed paper, total (2) 983,059 952,868 946,773
3 Directly placed paper, total (3) 236,820 239,037 244,504
4 Nonfinancial companies (4) 153,254 154,876 149,993
2003
Item Apr. May
1 All issuers 1,342,147 1,365,704
Financial companies (1)
2 Dealer-placed paper, total (2) 961,002 1,003,088
3 Directly placed paper, total (3) 232,879 222,597
4 Nonfinancial companies (4) 148,266 140,020
(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.
1.33 PRIME RATE CHARGED BY BANKS Short-Term Business Loans (1)
Percent per year
Date of change Rate
2000--Jan. 1 8.50
Feb. 3 8.75
Mar. 22 9.00
May 17 9.50
2001--Jan. 4 9.00
Feb. 1 8.50
Mar. 21 8.00
Apr. 19 7.50
May 16 7.00
June 28 6.75
Aug. 22 6.50
Sept. 18 6.00
Oct. 3 5.50
Nov. 7 5.00
Dec. 12 4.75
2002--Nov. 7 4.25
2003--June 27 4.00
Average
Period rate
2000 9.23
2001 6.97
2002 4.67
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
Average
Period rate
2001--Jan. 9.05
Feb. 8.50
Mar. 8.32
Apr. 7.80
May 7.24
June 6.98
July 6.75
Aug. 6.67
Sept. 6.28
Oct. 5.53
Nov. 5.10
Dec. 4.84
Average
Period rate
2002--Jan. 4.75
Feb. 4.75
Mar. 4.75
Apr. 4.75
May 4.75
June 4.75
July 4.75
Aug. 4.75
Sept. 4.75
Oct. 4.75
Nov. 4.35
Dec. 4.25
2003--Jan. 4.25
Feb. 4.25
Mar. 4.25
Apr. 4.25
May 4.25
June 4.22
July 4.00
(1.) The prime rate is one of several base rates that banks use to
price short-term business loans. The table shows the date on which a
new rate came to be the predominant one quoted by a majority of the
twenty-five largest banks by asset size, based on the most recent Call
Report. Data in this table also appear in the Board's H.15 (519) weekly
and G.13 (415) monthly statistical releases. For ordering address, see
inside from cover.
1.35 INTEREST RATES Money and Capital Markets
Percent per year; figures are average of business day data unless
otherwise noted
2003
Item 2000 2001 2002 Mar.
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 6.24 3.88 1.67 1.25
2 Discount window primary
credit (2,4) n.a. n.a. n.a. 2.25
Commercial paper (3,5,6)
Nonfinancial
3 1-month 6.27 3.78 1.67 1.21
4 2-month 6.29 3.68 1.67 1.20
5 3-month 6.31 3.65 1.69 1.19
Financial
6 1-month 6.28 3.80 1.68 1.23
7 2-month 6.30 3.71 1.69 1.22
8 3-month 6.33 3.65 1.70 1.21
Certificates of deposit,
secondary market (3,7)
9 1-month 6.35 3.84 1.72 1.25
10 3-month 6.46 3.71 1.73 1.23
11 6-month 6.59 3.66 1.81 1.20
12 Eurodollar deposits,
3-month (3,8) 6.45 3.70 1.73 1.21
US Treasury Bill
Secondary market (3,5)
13 4-week n.a. 2.43 1.60 1.16
14 3-month 5.82 3.40 1.61 1.13
15 6-month 5.90 3.34 1.68 1.13
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 6.11 3.49 2.00 1.24
17 2-year 6.26 3.83 2.64 1.57
18 3-year 6.22 4.09 3.10 1.98
19 5-year 6.16 4.56 3.82 2.78
20 7-year 6.20 4.88 4.30 3.34
21 10-year 6.03 5.02 4.61 3.81
22 20-year 6.23 5.63 5.43 4.82
Treasury long-term
average (10,11)
23 25 years and above n.a. n.a. 5.41 4.90
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 5.58 5.01 4.87 4.51
25 Baa 6.19 5.75 5.64 5.32
26 Bond Buyer series (13) 5.71 5.15 5.04 4.76
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 7.98 7.49 7.10 6.42
Rating group
28 Aaa (15) 7.62 7.08 6.49 5.89
29 Aa 7.83 7.26 6.93 6.28
30 A 8.11 7.67 7.18 6.54
31 Baa 8.37 7.95 7.80 6.95
MEMO
Dividend-price ratio (16)
32 Common stocks 1.15 1.32 1.61 1.92
2003,
week
2003 ending
Item Apr. May June May 30
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.26 1.26 1.22 1.24
2 Discount window primary
credit (2,4) 2.25 2.25 2.20 2.25
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.22 1.21 1.06 1.23
4 2-month 1.21 1.20 1.03 1.20
5 3-month 1.20 1.19 1.01 1.21
Financial
6 1-month 1.24 1.24 1.08 1.24
7 2-month 1.23 1.22 1.04 1.22
8 3-month 1.23 1.20 1.02 1.20
Certificates of deposit,
secondary market (3,7)
9 1-month 1.26 1.26 1.10 1.26
10 3-month 1.24 1.22 1.04 1.22
11 6-month 1.23 1.19 1.01 1.17
12 Eurodollar deposits,
3-month (3,8) 1.23 1.21 1.03 1.20
US Treasury Bill
Secondary market (3,5)
13 4-week 1.14 1.06 0.96 1.17
14 3-month 1.13 1.07 0.92 1.09
15 6-month 1.14 1.08 0.92 1.07
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 1.27 1.18 1.13 1.13
17 2-year 1.62 1.42 1.23 1.33
18 3-year 2.06 1.75 1.51 1.60
19 5-year 2.93 2.52 2.27 2.32
20 7-year 3.47 3.07 2.84 2.90
21 10-year 3.96 3.57 3.33 3.39
22 20-year 4.91 4.52 4.34 4.38
Treasury long-term
average (10,11)
23 25 years and above 4.99 4.61 4.45 4.46
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.60 4.16 4.07 3.98
25 Baa 5.34 4.91 4.68 4.63
26 Bond Buyer series (13) 4.74 4.41 4.33 4.31
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 6.32 5.88 5.70 5.75
Rating group
28 Aaa (15) 5.74 5.22 4.97 5.05
29 Aa 6.22 5.85 5.72 5.74
30 A 6.45 6.08 5.92 5.97
31 Baa 6.85 6.38 6.19 6.24
MEMO
Dividend-price ratio (16)
32 Common stocks 1.81 1.72 1.64 1.70
2003, week ending
Item June 6 June 13 June 20 June 17
MONEY MARKET INSTRUMENTS
1 Federal funds (1,2,3) 1.26 1.24 1.25 1.21
2 Discount window primary
credit (2,4) 2.25 2.25 2.25 2.21
Commercial paper (3,5,6)
Nonfinancial
3 1-month 1.21 1.10 0.99 0.97
4 2-month 1.18 1.07 0.94 0.95
5 3-month 1.16 1.03 0.94 0.92
Financial
6 1-month 1.22 1.13 1.01 0.98
7 2-month 1.17 1.07 0.96 0.95
8 3-month 1.16 1.04 0.95 0.94
Certificates of deposit,
secondary market (3,7)
9 1-month 1.25 1.14 1.02 1.00
10 3-month 1.19 1.05 0.96 0.98
11 6-month 1.13 1.02 0.94 0.97
12 Eurodollar deposits,
3-month (3,8) 1.16 1.04 0.94 0.96
US Treasury Bill
Secondary market (3,5)
13 4-week 1.13 1.04 0.87 0.83
14 3-month 1.05 0.92 0.84 0.86
15 6-month 1.03 0.91 0.85 0.89
U.S. TREASURY NOTES AND BONDS
Constant maturities (9)
16 1-year 1.08 0.97 0.95 1.02
17 2-year 1.25 1.14 1.22 1.28
18 3-year 1.53 1.39 1.52 1.59
19 5-year 2.27 2.13 2.27 2.36
20 7-year 2.85 2.70 2.84 2.93
21 10-year 3.36 3.20 3.31 3.42
22 20-year 4.37 4.21 4.31 4.43
Treasury long-term
average (10,11)
23 25 years and above 4.46 4.32 4.42 4.54
STATE AND LOCAL NOTES AND BONDS
Moody's series (12)
24 Aaa 4.08 4.01 3.94 4.25
25 Baa 4.72 4.60 4.53 4.85
26 Bond Buyer series (13) 4.27 4.21 4.35 4.47
CORPORATE BONDS
27 Seasoned issues, all
industries (14) 5.74 5.59 5.67 5.76
Rating group
28 Aaa (15) 5.00 4.84 4.93 5.06
29 Aa 5.74 5.63 5.70 5.76
30 A 5.99 5.81 5.88 5.96
31 Baa 6.22 6.08 6.17 6.26
MEMO
Dividend-price ratio (16)
32 Common stocks 1.63 1.64 1.63 1.66
NOTE. Some of the data in this table also appear in the Board's H.15
(519) weekly statistical release. For ordering address, See inside
front cover.
(1.) The daily effective federal funds rate is a weighted average of
rates on trades through New York brokers.
(2.) Weekly figure, are averages of seven calendar days, ending on
Wednesday of the content week; monthly figures include each calendar
day in the month.
(3.) Annualized using a 360 day year or bank interest.
(4.) The rate charged for discounts made and advances extended under
the Federal Reserve's primary credit discount window program, which
became effective January 9, 2003. This rate replaces that for
adjustment credit, which was discontinued after January 8, 2003. For
further information, see http://www.federalreserve.gov/boarddocs/
press/bcreg/2002/200210312/default.htm. The rate reported is that for
the Federal Reserve Bank of New York. Historical series for the rate
on adjustment credit is available at: http://www.federalreserve.gov/
releases/h15/data.htm
(5.) Quoted on a discount basis.
(6.) Interest rates interpolated from data on certain commercial paper
trades settled by the Depository Trust Company. The trades represent
sales of commercial paper by dealers or direct issuers to investors
(that is, the offer side). See the Board's Commercial Paper web pages
(http://www.federalreserve.gov/releases/cp) for more information.
(7.) An average of dealer offering rates on nationally traded
certificates of deposit.
(8.) Bid rates for eurodollar deposits collected around 9:30 a.m.
Eastern time. Data are for indication purpose only.
(9.) Yields on actively traded issues adjusted to constant maturities.
(10.) Based on the unweighted average of the bid yields for all
Treasury fixed-coupon securities with remaining terms to maturity of
25 years and over.
(11.) A factor for adjusting the daily long term average in order to
estimate a 30-year rate can be found at http://www.treas.gov/offices/
domestic-finance/debt-management/interest-rate/ltcompositeindex.html.
(12.) General obligations bonds based on Thursday figures; Moody's
Investors Service.
(13.) State and local government general obligation bonds maturing in
twenty years are used in compiling this index. The twenty-bond index
has a rating roughly equivalent to Moody's Al rating. Based on Thursday
figures.
(14.) Daily figures are averages of Aaa, Aa, A, and Baa yields from
Moody's Investors Service. Based on yields to maturity on selected
long-term bonds.
(15.) Effective December 7, 2001, the Moody 's Aaa yield includes
yields only for industrial firms. Prior to December 7, 2001, the Aaa
yield represented both utilities and industrial.
(16.) Standard & Poor's corporate series. Common Stock ratio is based
on the 500 stocks in the price index.
SOURCE: U.S. Department of the Treasury.
1.36 STOCK MARKET Selected Statistics
Indicator 2000 2001
Prices and trading
volume (averages of
daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 6,806.46 6,407.95
2 Industrial 809.40 749.46
3 Transportation 414.73 444.45
4 Utility 478.99 377.72
5 Finance 552.48 596.61
6 Standard & Poor's Corporation
(1941-43 = 10) (1) 1,427.22 1,194.18
7 American Stock Exchange
(Aug. 31. 1973 = 50) (2) 922.22 879.08
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,026,867 1,216,529
9 American Stock Exchange 51,437 68,074
Customer financing
(millions of dollars,
end-of-period
balances)
10 Margin credit at broker-dealers (3) 198,790 150,450
Free credit balances or brokers (4)
11 Margin accounts (5) 100,680 101,640
12 Cash accounts 84,400 78,040
2002
Indicator 2002 Oct.
Prices and trading
volume (averages of
daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 5,571.46 4,862.70
2 Industrial 656.44 574.45
3 Transportation 430.63 383.41
4 Utility 260.50 207.83
5 Finance 554.88 494.06
6 Standard & Poor's Corporation
(1941-43 = 10) (1) 993.94 854.63
7 American Stock Exchange
(Aug. 31. 1973 = 50) (2) 860.11 807.38
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,411,689 1,619,896
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars,
end-of-period
balances)
10 Margin credit at broker-dealers (3) 134,380 130,570
Free credit balances or brokers (4)
11 Margin accounts (5) 95,690 96,620
12 Cash accounts 73,340 66,780
2002
Indicator Nov. Dec.
Prices and trading
volume (averages of
daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 5,104.89 5,075.76
2 Industrial 597.75 593.15
3 Transportation 405.03 401.39
4 Utility 229.41 236.71
5 Finance 523.50 519.72
6 Standard & Poor's Corporation
(1941-43 = 10) (1) 909.93 899.18
7 American Stock Exchange
(Aug. 31. 1973 = 50) (2) 820.62 823.77
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,427,254 1,210,332
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars,
end-of-period
balances)
10 Margin credit at broker-dealers (3) 133,060 134,380
Free credit balances or brokers (4)
11 Margin accounts (5) 91,240 95,690
12 Cash accounts 67,380 73,340
2003
Indicator Jan. Feb.
Prices and trading
volume (averages of
daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 5,055.78 4,738.56
2 Industrial 587.78 553.90
3 Transportation 394.60 367.55
4 Utility 236.42 214.64
5 Finance 522.51 485.72
6 Standard & Poor's Corporation
(1941-43 = 10) (1) 895.84 837.62
7 American Stock Exchange
(Aug. 31. 1973 = 50) (2) 824.64 818.84
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,441,846 1,302,011
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars,
end-of-period
balances)
10 Margin credit at broker-dealers (3) 134,910 134,030
Free credit balances or brokers (4)
11 Margin accounts (5) 96,430 95,400
12 Cash accounts 66,200 67,260
2003
Indicator Mar Apr.
Prices and trading
volume (averages of
daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 4,724.22 4,977.45
2 Industrial 558.10 583.74
3 Transportation 366.90 395.85
4 Utility 211.45 221.06
5 Finance 486.71 522.05
6 Standard & Poor's Corporation
(1941-43 = 10) (1) 846.62 890.03
7 American Stock Exchange
(Aug. 31. 1973 = 50) (2) 822.34 837.92
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,403,742 1,381,580
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars,
end-of-period
balances)
10 Margin credit at broker-dealers (3) 135,910 140,450
Free credit balances or brokers (4)
11 Margin accounts (5) 90,830 88,770
12 Cash accounts 68,860 70,080
2003
Indicator May June
Prices and trading
volume (averages of
daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50) 5,269.96 5,583.60
2 Industrial 613.26 649.25
3 Transportation 425.12 441.81
4 Utility 238.33 254.16
5 Finance 549.91 579.48
6 Standard & Poor's Corporation
(1941-43 = 10) (1) 935.96 988.00
7 American Stock Exchange
(Aug. 31. 1973 = 50) (2) 894.74 962.46
Volume of trading (thousands of shares)
8 New York Stock Exchange 1,455,858 1,472,560
9 American Stock Exchange n.a. n.a.
Customer financing
(millions of dollars,
end-of-period
balances)
10 Margin credit at broker-dealers (3) 146,380 148,550
Free credit balances or brokers (4)
11 Margin accounts (5) 88,540 87,920
12 Cash accounts 71,270 74,350
Margin requirements (percent
of market value and effective
date) (6)
Mar. 11, 1968 June 8, 1968
13 Margins stock 70 80
14 Convertible bonds 50 60
15 Short sales 70 80
Margin requirements (percent
of market value and effective
date) (6)
May 6, 1970 Dec. 6, 1971
13 Margins stock 65 55
14 Convertible bonds 50 50
15 Short sales 65 55
Margin requirements (percent
of market value and effective
date) (6)
Nov. 24, 1972 Jan. 3, 1974
13 Margins stock 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 option, 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 its 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.
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
Item 2001
June 30 Sept. 30 Dec .31
1 Federal debt outstanding 5,739.9 5,834.5 5,970.3
2 Public debt cavitie 5,726.8 5,807.5 5,943.4
3 Held by public 3,274.2 3,383.7 3,393.8
4 Held by agencies 2,452.6 2,468.8 2,549.7
5 Agency securities 27.1 27.0 26.8
6 Held by public 27.1 27.0 26.8
7 Held by agencies .0 .0 .0
8 Debt subject to statutory
limit 5,645.0 5,732.6 5,871.4
9 Public debt securities 5,644.8 5,732.4 5,871.2
10 Other debt (1) .2 .2 .3
MEMO
11 Statutory debt limit 5,950.0 5,950.0 5,950.0
Item 2002
Mar. 31 June 30 Sept. 30
1 Federal debt outstanding 6,032.4 6,153.3 6,255.4
2 Public debt cavitie 6,006.0 6,126.5 6,228.2
3 Held by public 3,443.7 3,463.5 3,552.6
4 Held by agencies 2,562.4 2,662.9 2,675.6
5 Agency securities 26.4 26.8 27.2
6 Held by public 26.4 26.8 27.2
7 Held by agencies .0 .0 .0
8 Debt subject to statutory
limit 5,935.1 6,058.3 6,161.4
9 Public debt securities 5,935.0 6,058.1 6,161.1
10 Other debt (1) .2 .2 .3
MEMO
11 Statutory debt limit 5,950.0 6,400.0 6,400.0
Item 2002 2003
Dec. 31 Mar. 31 June 30
1 Federal debt outstanding 6,433.0 6,487.7 6,697.1 (r)
2 Public debt cavitie 6,405.7 6,460.8 6,670.1 (r)
3 Held by public 3,647.4 3,710.8 3,816.3 (r)
4 Held by agencies 2,758.3 2,750.0 2,853.8 (r)
5 Agency securities 27.3 26.9 27.0 (r)
6 Held by public 27.3 26.9 27.0 (r)
7 Held by agencies .0 .0 .0 (r)
8 Debt subject to statutory
limit 6,359.4 6,400.0 6,625.5 (r)
9 Public debt securities 6,359.1 6,399.8 6,625.3 (r)
10 Other debt (1) .3 .2 .2 (r)
MEMO
11 Statutory debt limit 6,400.0 6,400.0 7.4 (r)
(1.) Consists of guaranteed debt of U. S. Treasury and other federal
agencies, specified participation certificates, notes to international
lending organizations, and District of Columbia stadium bonds.
SOURCE. U.S. Department of the Treasury. Monthly Statement of the
Public Debt of the United States and Monthly Treasury Statement.
1.41 GROSS PUBLIC DEBT OF U.S. TREASURY Types and Ownership
Billions of dollars, end of period
Type and holder 1999 2000 2001
1 Total gross public debt 5,776.1 5,662.2 5,943.4
By type
2 Interest-bearing 5,766.1 5,618.1 5,930.8
3 Marketable 3,281.0 2,966.9 2,982.9
4 Bills 737.1 646.9 811.3
5 Notes 1,784.5 1,557.3 1,413.9
6 Bonds 643.7 626.5 602.7
7 Inflation-indexed notes and 100.7 121.2 140.1
bonds (1)
8 Nonmarketable (2) 2,485.1 2,651.2 2,947.9
9 State and local government 165.7 151.0 146.3
series
10 Foreign issues (3) 31.3 27.2 15.4
11 Government 31.3 27.2 15.4
12 Public .0 .0 .0
13 Savings bonds and notes 179.4 176.9 181.5
14 Government account series (4) 2,078.7 2,266.1 2,574.8
15 Non-interest-bearing 10.0 44.2 12.7
By holder (5)
16 U.S. Treasury and other federal 2,064.2 2,270.1 2,572.2
agencies and trust funds
17 Federal Reserve Bank (6) 478.0 511.7 551.7
18 Private investors 3,233.9 2,880.4 2,819.5
19 Depository institutions 248.7 201.5 181.5
20 Mutual funds 228.6 220.8 257.5
21 Insurance companies 123.4 110.2 105.7
22 State and local treasu- 266.8 236.2 256.5
ries (7) Individuals
23 Savings bonds 186.4 184.8 190.3
24 Pension funds 321.0 304.1 281.6
25 Private 109.8 108.4 104.2
26 State and Local 211.2 195.7 177.4
27 Foreign and international (8) 1,268.7 1,034.2 1,053.1
28 Other miscellaneous 590.3 588.7 493.3
investors (7,9)
Type and holder 2002 2002
Q3
1 Total gross public debt 6,405.7 6,228.2
By type
2 Interest-bearing 6,391.4 6,216.3
3 Marketable 3,205.1 3,136.6
4 Bills 888.8 868.3
5 Notes 1,580.8 1,521.5
6 Bonds 588.7 592.9
7 Inflation-indexed notes and 146.9 138.9
bonds (1)
8 Nonmarketable (2) 3,186.3 3,079.6
9 State and local government 153.4 144.3
series
10 Foreign issues (3) 11.2 12.5
11 Government 11.2 12.5
12 Public .0 .0
13 Savings bonds and notes 184.8 185.6
14 Government account series (4) 2,806.9 2,707.3
15 Non-interest-bearing 14.3 12.0
By holder (5)
16 U.S. Treasury and other federal 2,757.8 2,701.3
agencies and trust funds
17 Federal Reserve Bank (6) 629.4 604.2
18 Private investors 3,018.5 2,924.8
19 Depository institutions 222.6 (r) 210.4
20 Mutual funds 279.0 (r) 255.6 (r)
21 Insurance companies 133.9 (r) 126.8 (r)
22 State and local treasu- 274.2 269.4
ries (7) Individuals
23 Savings bonds 194.9 193.3
24 Pension funds 289.9 (r) 284.9
25 Private 113.6 (r) 110.9
26 State and Local 176.3 (r) 174.1
27 Foreign and international (8) 1,212.7 (r) 1,167.1 (r)
28 Other miscellaneous 433.8 429.9 (r)
investors (7,9)
Type and holder 2002 2003
Q4 Q1
1 Total gross public debt 6,405.7 6,460.8
By type
2 Interest-bearing 6,391.4 6,474.0
3 Marketable 3,205.1 3,331.8
4 Bills 888.8 955.0
5 Notes 1,580.8 1,622.9
6 Bonds 588.7 585.7
7 Inflation-indexed notes and 146.9 153.2
bonds (1)
8 Nonmarketable (2) 3,186.3 3,142.2
9 State and local government 153.4 148.8
series
10 Foreign issues (3) 11.2 12.2
11 Government 11.2 12.2
12 Public .0 .0
13 Savings bonds and notes 184.8 187.3
14 Government account series (4) 2,806.9 2,763.8
15 Non-interest-bearing 14.3 13.8
By holder (5)
16 U.S. Treasury and other federal 2,757.8 2,763.3
agencies and trust funds
17 Federal Reserve Bank (6) 629.4 641.5
18 Private investors 3,018.5 3,055.6
19 Depository institutions 222.6 (r) 152.8
20 Mutual funds 279.0 (r) 299.9
21 Insurance companies 133.9 (r) 140.3
22 State and local treasu- 274.2 273.4
ries (7) Individuals
23 Savings bonds 194.9 196.9
24 Pension funds 289.9 (r) 294.6
25 Private 113.6 (r) 116.3
26 State and Local 176.3 (r) 178.3
27 Foreign and international (8) 1,212.7 (r) 1,250.5
28 Other miscellaneous 433.8 n.a.
investors (7,9)
Type and holder 2003
Q2
1 Total gross public debt 6,670.1
By type
2 Interest-bearing 6,671.5
3 Marketable 3,394.0
4 Bills 927.8
5 Notes 1,713.7
6 Bonds 582.4
7 Inflation-indexed notes and 155.0
bonds (1)
8 Nonmarketable (2) 3,277.6
9 State and local government 140.5
series
10 Foreign issues (3) 11.7
11 Government 11.7
12 Public .0
13 Savings bonds and notes 189.9
14 Government account series (4) 2,905.5
15 Non-interest-bearing 66.5
By holder (5)
16 U.S. Treasury and other federal n.a.
agencies and trust funds
17 Federal Reserve Bank (6) 652.1
18 Private investors n.a.
19 Depository institutions n.a.
20 Mutual funds n.a.
21 Insurance companies n.a.
22 State and local treasu- n.a.
ries (7) Individuals
23 Savings bonds n.a.
24 Pension funds n.a.
25 Private n.a.
26 State and Local n.a.
27 Foreign and international (8) n.a.
28 Other miscellaneous n.a.
investors (7,9)
(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.) Nonmarkable series denominated in dollars, and series denominated
in foreign currency held by foreigners.
(4.) Held almost entirely by U.S. Treasury and other federal agencies
and trust funds.
(5.) Data for Federal Reserve Banks and U.S. government agencies and
trust funds are actual holdings; data for other groups are Treasury
estimates.
(6.) U.S. Treasury securities bought outright by Federal Reserve Banks,
see Bulletin table 1.18.
(7.) In March 1996, in a redefinition of series, fully defeased debt
backed by nonmarketable federal securities was removed from "Other
miscellaneous investors" and added to "State and local treasuries."
The data shown here have been revised accordingly.
(8.) Includes nonmarketable foreign series Treasury securities and
Treasury deposit funds. Excludes Treasury securities held under
repurchase agreements in custody accounts at the Federal Reserve Bank
of New York.
(9.) Includes individuals, government-sponsored enterprises, brokers
and dealers, bank personal trusts and estates, corporate and
noncorporate businesses, and other investors.
SOURCES. Data by type of security, U.S. Treasury Department, Monthly,
Statement of the Public Debt of the United States; data by holder,
Federal Reserve Board of Governors, Flow of Funds Accounts of the
United States and U.S. Treasury Department, Treasury Bulletin, unless
otherwise noted.
1.42 U.S. GOVERNMENT SECURITIES DEALERS Transactions (1)
Millions of dollars, daily averages
2003
Item
Mar. Apr. May
By type of security
1 U.S. Treasury bills 48,449 45,958 48,474
Treasury coupon securities by maturity
2 Three years or less 126,659 118,650 167,853
3 More than three but less than or
equal to six years 117,650 98,983 139,291
4 More than six but less than or equal
to eleven years 93,192 72,089 117,206
5 More than eleven 21,768 19,829 36,907
6 Inflation-indexed (2) 2,987 3,092 4,303
Federal agency and government-
sponsored enterprises
7 Discount notes 52,936 52,188 60,395
Coupon securities by maturity
8 Three years or less 14,229 11,020 11,262
9 More than three years but less
than or equal to six years 11,502 9,753 10,180
10 More than six years but less than
or equal to eleven years 7,006 5,166 7,723
11 More than eleven years 1,584 647 1,078
12 Mortgage-backed 241,417 216,931 255,830
Corporate securities
13 One year or less 124,603 125,402 121,358
14 More than one year 23,239 20,592 23,053
By type of counterparty
With interdealer broker
15 U.S. Treasury 191,462 164,812 236,729
16 Federal agency and government-
sponsored enterprises 10,578 8,077 10,429
17 Mortgage-backed 68,952 56,005 71,749
18 Corporate 488 554 532
With other
19 U.S. Treasury 219,244 193,790 277,305
20 Federal agency and government-
sponsored enterprises 76,678 70,697 80,208
21 Mortgage-backed 172,465 160,926 184,080
22 Corporate 147,355 145,441 143,879
2003, week ending
Item
Apr. 30 May 7 May 14
By type of security
1 U.S. Treasury bills 41,294 48,151 52,457
Treasury coupon securities by maturity
2 Three years or less 143,154 152,603 165,286
3 More than three but less than or
equal to six years 108,709 142,386 161,206
4 More than six but less than or equal
to eleven years 77,064 91,107 140,383
5 More than eleven 23,356 25,240 36,135
6 Inflation-indexed (2) 4,610 3,658 4,603
Federal agency and government-
sponsored enterprises
7 Discount notes 54,874 60,610 57,864
Coupon securities by maturity
8 Three years or less 10,293 10,964 12,070
9 More than three years but less
than or equal to six years 13,738 8,939 10,909
10 More than six years but less than
or equal to eleven years 5,089 6,354 11,403
11 More than eleven years 606 1,083 1,088
12 Mortgage-backed 208,109 213,423 340,957
Corporate securities
13 One year or less 119,717 125,049 122,813
14 More than one year 23,442 24,252 23,979
By type of counterparty
With interdealer broker
15 U.S. Treasury 180,206 217,238 256,307
16 Federal agency and government-
sponsored enterprises 9,417 9,205 12,318
17 Mortgage-backed 51,151 60,669 84,136
18 Corporate 513 565 561
With other
19 U.S. Treasury 217,980 245,907 303,762
20 Federal agency and government-
sponsored enterprises 75,183 78,745 81,016
21 Mortgage-backed 156,958 152,754 256,821
22 Corporate 142,646 148,735 146,232
2003, week ending
Item
May 21 May 28 June 4
By type of security
1 U.S. Treasury bills 47,436 43,048 52,776
Treasury coupon securities by maturity
2 Three years or less 156,854 197,753 180,090
3 More than three but less than or
equal to six years 127,244 129,030 127,409
4 More than six but less than or equal
to eleven years 127,759 115,527 101,488
5 More than eleven 48,728 41,092 30,080
6 Inflation-indexed (2) 4,171 5,284 3,530
Federal agency and government-
sponsored enterprises
7 Discount notes 64,649 56,480 63,377
Coupon securities by maturity
8 Three years or less 10,625 11,418 11,265
9 More than three years but less
than or equal to six years 13,081 8,265 8,033
10 More than six years but less than
or equal to eleven years 7,517 5,180 7,548
11 More than eleven years 806 1,292 1,291
12 Mortgage-backed 274,423 189,863 234,479
Corporate securities
13 One year or less 121,051 112,448 127,082
14 More than one year 23,839 19,941 22,000
By type of counterparty
With interdealer broker
15 U.S. Treasury 239,215 236,013 231,733
16 Federal agency and government-
sponsored enterprises 11,705 9,092 8,252
17 Mortgage-backed 83,652 60,189 61,846
18 Corporate 520 459 553
With other
19 U.S. Treasury 272,977 295,721 263,641
20 Federal agency and government-
sponsored enterprises 84,971 73,544 83,264
21 Mortgage-backed 190,770 129,674 172,633
22 Corporate 144,369 131,930 148,529
2003, week ending
Item
June 11 June 18 June 25
By type of security
1 U.S. Treasury bills 48,763 46,850 49,540
Treasury coupon securities by maturity
2 Three years or less 139,465 138,686 155,625
3 More than three but less than or
equal to six years 137,071 128,937 117,719
4 More than six but less than or equal
to eleven years 107,075 113,351 98,517
5 More than eleven 34,987 28,876 30,363
6 Inflation-indexed (2) 3,260 2,590 2,818
Federal agency and government-
sponsored enterprises
7 Discount notes 60,806 63,515 60,888
Coupon securities by maturity
8 Three years or less 10,915 16,133 13,244
9 More than three years but less
than or equal to six years 9,985 12,146 9,087
10 More than six years but less than
or equal to eleven years 10,413 12,598 7,613
11 More than eleven years 1,614 1,858 1,210
12 Mortgage-backed 296,827 242,180 159,775
Corporate securities
13 One year or less 120,172 137,740 157,533
14 More than one year 20,712 21,941 23,008
By type of counterparty
With interdealer broker
15 U.S. Treasury 221,425 211,806 211,037
16 Federal agency and government-
sponsored enterprises 11,461 14,664 10,267
17 Mortgage-backed 74,856 69,994 433,611
18 Corporate 674 609 469
With other
19 U.S. Treasury 249,198 247,483 243,545
20 Federal agency and government-
sponsored enterprises 82,273 91,585 81,776
21 Mortgage-backed 211,971 173,187 116,416
22 Corporate 140,210 159,073 180,073
NOTE. Major changes in the report form filed by primary dealers induced
a break in the dealer data series as of the week ending July 4, 2001.
Current weekly data may be found at the Federal Reserve Bank of New
York web site (http:www.newyorkfed.org/pihome/statistics) under the
Primary Dealer heading.
(1.) The figures represents purchases and sales in the market by the
primary U.S. government securities dealers reporting to the Federal
Reserve Bank of New York. Outright transactions include all U.S.
government, federal agency, government-sponsored enterprise,
mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as all US. government securities traded on a
when-issued basis between the announcement and issue date. Data do not
include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the
week.
(2.) Outright Treasury inflation-indexed securities (TIIS) transactions
are reported at principal value, excluding accrued interest, where
principal value reflects the original issuance par amount (unadjusted
nor inflation) times the price times the index ratio.
1.43 U.S. GOVERNMENT SECURITIES DEALERS Positions and Financing (1)
Millions of dollars
2003
Item, by type of security Mar. Apr.
Net outright
positions (2)
1 U.S. Treasury bills 36,519 21,878
Treasury coupon securities by maturity
2 Three years or less -11,710 -15,269
3 More than three but less than
or equal to six years -39,305 -46,833
4 More than six but less than
or equal to eleven years -12,408 -12,234
5 More than eleven 5,513 5,442
6 Inflation-indexed 2,502 1,544
Federal agency and government-
sponsored enterprises
7 Discount notes 54,393 55,454
Coupon securities by maturity
8 Three years or less 19,765 19,419
9 More than three years but less than
or equal to six years 4,786 3,770
10 More than six years but less than
or equal to eleven years 2,292 3,328
11 More than eleven years 2,357 2,351
12 Mortgage-backed 44,922 46,326
Corporate securities
13 One year or less 26,170 29,461
14 More than one year 48,917 48,800
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 655,300 656,984
16 Term 784,955 791,597
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 153,551 152,545
18 Term 239,424 229,326
Mortgage-backed securities
19 Overnight and continuing 39,251 40,105
20 Term 249,003 244,815
3 Corporate securities
21 Overnight and continuing 65,856 66,811
22 Term 25,792 25,873
MEMO
Reverse repurchase agreements
23 Overnight and continuing 469,568 461,743
24 Term 1,127,240 1,117,241
Securities out, U.S. Treasury
25 Overnight and continuing 638,051 621,314
26 Term 717,308 729,460
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 286,453 282,367
28 Term 176,180 175,326
Mortgage-backed securities
29 Overnight and continuing 328,058 334,764
30 Term 153,495 152,637
Corporate securities
31 Overnight and continuing 141,619 143,957
32 Term 22,184 22,754
MEMO
Reverse repurchase agreements
33 Overnight and continuing 1,195,376 1,187,404
34 Term 1,022,027 1,027,811
2003,
week
2003 ending
Item, by type of security May Apr. 30
Net outright
positions (2)
1 U.S. Treasury bills 10,092 8,728
Treasury coupon securities by maturity
2 Three years or less -12,954 -11,657
3 More than three but less than
or equal to six years -42,497 -53,532
4 More than six but less than
or equal to eleven years -8,149 -16,629
5 More than eleven 3,180 4,960
6 Inflation-indexed -127 1,131
Federal agency and government-
sponsored enterprises
7 Discount notes 62,728 52,029
Coupon securities by maturity
8 Three years or less 20,165 19,707
9 More than three years but less than
or equal to six years 4,807 4,786
10 More than six years but less than
or equal to eleven years 3,875 4,527
11 More than eleven years 2,366 2,335
12 Mortgage-backed 42,381 59,860
Corporate securities
13 One year or less 25,518 28,663
14 More than one year 58,309 56,222
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 694,287 650,467
16 Term 881,597 833,145
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 152,445 146,328
18 Term 243,263 230,043
Mortgage-backed securities
19 Overnight and continuing 42,935 35,912
20 Term 247,674 245,823
Corporate securities
21 Overnight and continuing 68,094 66,112
22 Term 27,031 27,094
MEMO
Reverse repurchase agreements
23 Overnight and continuing 482,620 473,825
24 Term 1,220,752 1,136,101
Securities out, U.S. Treasury
25 Overnight and continuing 674,535 628,097
26 Term 801,453 750,585
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 297,432 277,302
28 Term 186,301 170,678
Mortgage-backed securities
29 Overnight and continuing 357,464 321,032
30 Term 147,596 144,276
Corporate securities
31 Overnight and continuing 146,125 147,458
32 Term 25,505 23,533
MEMO
Reverse repurchase agreements
33 Overnight and continuing 1,262,067 1,171,794
34 Term 1,106,335 1,038,380
2003, week ending
Item, by type of security May 7 May 14
Net outright
positions (2)
1 U.S. Treasury bills 11,484 -2,080
Treasury coupon securities by maturity
2 Three years or less -7,464 -9,227
3 More than three but less than
or equal to six years -45,717 -46,088
4 More than six but less than
or equal to eleven years -15,158 -9,276
5 More than eleven 3,931 2,540
6 Inflation-indexed 801 -876
Federal agency and government-
sponsored enterprises
7 Discount notes 61,273 62,664
Coupon securities by maturity
8 Three years or less 20,045 21,951
9 More than three years but less than
or equal to six years 4,363 5,553
10 More than six years but less than
or equal to eleven years 2,698 6,165
11 More than eleven years 2,115 2,238
12 Mortgage-backed 36,798 31,002
Corporate securities
13 One year or less 26,298 26,662
14 More than one year 59,734 59,672
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 658,335 674,963
16 Term 853,703 904,041
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 147,218 156,168
18 Term 245,895 240,647
Mortgage-backed securities
19 Overnight and continuing 50,046 41,449
20 Term 243,138 244,968
Corporate securities
21 Overnight and continuing 65,481 66,830
22 Term 27,003 26,943
MEMO
Reverse repurchase agreements
23 Overnight and continuing 443,299 461,384
24 Term 1,202,046 1,240,502
Securities out, U.S. Treasury
25 Overnight and continuing 632,456 647,324
26 Term 791,361 830,945
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 278,820 308,347
28 Term 185,100 186,157
Mortgage-backed securities
29 Overnight and continuing 319,815 375,991
30 Term 147,211 157,160
Corporate securities
31 Overnight and continuing 145,762 146,716
32 Term 24,436 24,722
MEMO
Reverse repurchase agreements
33 Overnight and continuing 1,176,253 1,269,699
34 Term 1,095,866 1,143,555
2003, week ending
Item, by type of security May 21 May 28
Net outright
positions (2)
1 U.S. Treasury bills 9,121 12,506
Treasury coupon securities by maturity
2 Three years or less -13,977 -21,938
3 More than three but less than
or equal to six years -38,952 -40,001
4 More than six but less than
or equal to eleven years -7,723 -2,249
5 More than eleven 3,386 4,188
6 Inflation-indexed -265 -297
Federal agency and government-
sponsored enterprises
7 Discount notes 65,205 60,923
Coupon securities by maturity
8 Three years or less 20,462 18,842
9 More than three years but less than
or equal to six years 5,007 4,611
10 More than six years but less than
or equal to eleven years 4,296 3,152
11 More than eleven years 2,437 2,696
12 Mortgage-backed 44,600 52,943
Corporate securities
13 One year or less 26,542 22,758
14 More than one year 58,358 55,494
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 733,053 701,743
16 Term 852,721 901,519
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 159,250 145,252
18 Term 240,514 244,064
Mortgage-backed securities
19 Overnight and continuing 43,397 41,702
20 Term 253,912 249,224
Corporate securities
21 Overnight and continuing 69,146 70,242
22 Term 26,978 26,658
MEMO
Reverse repurchase agreements
23 Overnight and continuing 519,203 496,508
24 Term 1,189,810 1,236,660
Securities out, U.S. Treasury
25 Overnight and continuing 712,522 695,228
26 Term 759,014 816,383
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 306,901 291,533
28 Term 184,162 186,747
Mortgage-backed securities
29 Overnight and continuing 370,458 373,830
30 Term 149,444 139,919
Corporate securities
31 Overnight and continuing 148,460 145,808
32 Term 25,647 25,967
MEMO
Reverse repurchase agreements
33 Overnight and continuing 1,325,129 1,275,135
34 Term 1,061,290 1,115,507
2003, week ending
Item, by type of security June 4 June 11
Net outright
positions (2)
1 U.S. Treasury bills 31,880 17,006
Treasury coupon securities by maturity
2 Three years or less -11,112 -14,046
3 More than three but less than
or equal to six years -40,696 -41,486
4 More than six but less than
or equal to eleven years -3,930 -8,532
5 More than eleven 84 -671
6 Inflation-indexed 175 810
Federal agency and government-
sponsored enterprises
7 Discount notes 64,700 56,803
Coupon securities by maturity
8 Three years or less 18,674 18,237
9 More than three years but less than
or equal to six years 4,091 4,109
10 More than six years but less than
or equal to eleven years 1,980 4,874
11 More than eleven years 2,314 2,496
12 Mortgage-backed 52,140 47,767
Corporate securities
13 One year or less 25,084 35,805
14 More than one year 58,257 58,531
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 715,409 736,562
16 Term 915,202 980,859
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 156,862 150,840
18 Term 247,768 261,047
Mortgage-backed securities
19 Overnight and continuing 31,609 42,939
20 Term 246,398 247,475
Corporate securities
21 Overnight and continuing 69,675 70,022
22 Term 28,293 28,419
MEMO
Reverse repurchase agreements
23 Overnight and continuing 506,154 522,296
24 Term 1,253,396 1,333,776
Securities out, U.S. Treasury
25 Overnight and continuing 699,293 715,513
26 Term 820,373 896,211
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 307,065 298,459
28 Term 193,388 196,465
Mortgage-backed securities
29 Overnight and continuing 333,580 342,752
30 Term 139,780 137,057
Corporate securities
31 Overnight and continuing 140,883 155,048
32 Term 28,420 27,824
MEMO
Reverse repurchase agreements
33 Overnight and continuing 1,266,858 1,297,897
34 Term 1,127,615 1,202,635
2003, week
ending
Item, by type of security June 18
Net outright
positions (2)
1 U.S. Treasury bills 4,854
Treasury coupon securities by maturity
2 Three years or less -17,261
3 More than three but less than
or equal to six years -43,518
4 More than six but less than
or equal to eleven years -10,346
5 More than eleven 1,720
6 Inflation-indexed 1,181
Federal agency and government-
sponsored enterprises
7 Discount notes 60,626
Coupon securities by maturity
8 Three years or less 15,967
9 More than three years but less than
or equal to six years 1,179
10 More than six years but less than
or equal to eleven years 4,049
11 More than eleven years 2,925
12 Mortgage-backed 61,720
Corporate securities
13 One year or less 36,639
14 More than one year 60,765
Financing (3)
Securities in, U.S. Treasury
15 Overnight and continuing 730,168
16 Term 985,588
Federal agency and government-
sponsored enterprises
17 Overnight and continuing 154,483
18 Term 261,788
Mortgage-backed securities
19 Overnight and continuing 35,100
20 Term 258,791
Corporate securities
21 Overnight and continuing 71,200
22 Term 28,693
MEMO
Reverse repurchase agreements
23 Overnight and continuing 505,687
24 Term 1,351,985
Securities out, U.S. Treasury
25 Overnight and continuing 713,018
26 Term 877,742
Federal agency and government-
sponsored enterprises
27 Overnight and continuing 297,807
28 Term 199,129
Mortgage-backed securities
29 Overnight and continuing 373,056
30 Term 156,962
Corporate securities
31 Overnight and continuing 161,359
32 Term 27,057
MEMO
Reverse repurchase agreements
33 Overnight and continuing 1,334,181
34 Term 1,208,707
NOTE. Major changes in the report form filed by primary dealers induced
a break in many series as of the week ending July 4, 2001. Current
weekly data may be found at the Federal Reserve Bank of New York web
site (http://www.newyorkfed.org/pihome/statistics) under the Primary
Dealer heading.
(1.) Data for positions and financing ore obtained brunt reports
submitted to the Federal Reserve Bank of New York by the U.S.
government securities dealers on its published list of primary dealers.
Weekly figures are close-of-business Wednesday data. Positions for
calendar days of the report week are assumed to be constant. Monthly
averages are based on the number of calendar days in the month.
(2.) Net outright positions include all U.S. government, federal agency,
government-sponsored enterprise, mortgage-backed, and corporate
securities scheduled for immediate and forward delivery, as well as
U.S. government securities traded on a when-issued basis between the
announcement and issue date.
(3.) Figures cover financing U.S. government federal agency,
government-sponsored enterprise, mortgage-backed, and corporate
securities. Financing transactions for Treasury inflation-indexed
securities (TIIS) are reported in actual funds paid or received, except
for pledged securities. TIIS that are issued as pledged securities are
reported at par value, which is the value of the security at original
issuance (unadjusted for inflation).
1.44 FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES Debt Outstanding
Millions of dollars, end of period
Agency 1999 2000
1 Federal and federally sponsored agencies 1,616,492 1,851,632
2 Federal agencies 26,376 25,666
3 Defence Department (1) 6 6
4 Export-Import Bank (2,3) n.a. n.a.
5 Federal Housing Administration (4) 126 255
6 Government National Mortgage Association
certificates of participation (5) n.a. n.a.
7 Postal Service (6) n.a. n.a.
8 Tennessee Valley Authority 26,370 25,660
9 United States Railway Association (6) n.a. n.a.
10 Federally sponsored agencies (7) 1,590,116 1,825,966
11 Federal Home Loan Banks 529,005 594,404
12 Federal Home Loan Mortgage Corporation 360,711 426,899
13 Federal National Mortgage Association 547,619 642,700
14 Farm Credit Banks (8) 68,883 74,181
15 Student Loan Marketing Association (9) 41,988 45,375
16 Financing Corporation (10) 8,170 8,170
17 Farm Credit Financial Assistance
Corporation (11) 1,261 1,261
18 Resolution Funding Corporation (12) 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 42,152 40,575
Lending to federal and federally sponsored
agencies
20 Export-Import Bank (3) n.a. n.a.
21 Postal Services (6) n.a. n.a.
22 Student Loan Marketing Association n.a. n.a.
23 Tennessee Valley Authority n.a. n.a.
24 United States Railway Association (6) n.a. n.a.
Other lending (14)
25 Farmers Home Administration 6,665 5,275
26 Rural Electrification Administration 14,085 13,126
27 Other 21,402 22,174
Agency 2001 2002
1 Federal and federally sponsored agencies 2,121,057 2,351,039
2 Federal agencies 276 2
3 Defence Department (1) 6 6
4 Export-Import Bank (2,3) n.a. n.a.
5 Federal Housing Administration (4) 26,828 26,828
6 Government National Mortgage Association
certificates of participation (5) n.a. n.a.
7 Postal Service (6) n.a. n.a.
8 Tennessee Valley Authority 270 270
9 United States Railway Association (6) n.a. n.a.
10 Federally sponsored agencies (7) 2,120,781 2,351,037
11 Federal Home Loan Banks 623,740 674,841
12 Federal Home Loan Mortgage Corporation 565,071 648,894
13 Federal National Mortgage Association 763,500 851,000
14 Farm Credit Banks (8) 76,673 85,088
15 Student Loan Marketing Association (9) 48,350 47,900
16 Financing Corporation (10) 8,170 8,170
17 Farm Credit Financial Assistance
Corporation (11) 1,261 1,261
18 Resolution Funding Corporation (12) 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 39,096 37,017
Lending to federal and federally sponsored
agencies
20 Export-Import Bank (3) n.a. n.a.
21 Postal Services (6) n.a. n.a.
22 Student Loan Marketing Association n.a. n.a.
23 Tennessee Valley Authority n.a. n.a.
24 United States Railway Association (6) n.a. n.a.
Other lending (14)
25 Farmers Home Administration n.a. n.a.
26 Rural Electrification Administration 13,876 14,489
27 Other 25,220 22,528
2002 2003
Agency
Dec. Jan.
1 Federal and federally sponsored agencies 2,351,039 n.a.
2 Federal agencies 2 26,929
3 Defence Department (1) 6 6
4 Export-Import Bank (2,3) n.a. n.a.
5 Federal Housing Administration (4) 26,828 354
6 Government National Mortgage Association
certificates of participation (5) n.a. n.a.
7 Postal Service (6) n.a. n.a.
8 Tennessee Valley Authority 270 26,923
9 United States Railway Association (6) n.a. n.a.
10 Federally sponsored agencies (7) 2,351,037 n.a.
11 Federal Home Loan Banks 674,841 672,304
12 Federal Home Loan Mortgage Corporation 648,894 n.a.
13 Federal National Mortgage Association 851,000 860,300
14 Farm Credit Banks (8) 85,088 85,206
15 Student Loan Marketing Association (9) 47,900 50,700
16 Financing Corporation (10) 8,170 8,170
17 Farm Credit Financial Assistance
Corporation (11) 1,261 1,261
18 Resolution Funding Corporation (12) 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 37,017 35,992
Lending to federal and federally sponsored
agencies
20 Export-Import Bank (3) n.a. n.a.
21 Postal Services (6) n.a. n.a.
22 Student Loan Marketing Association n.a. n.a.
23 Tennessee Valley Authority n.a. n.a.
24 United States Railway Association (6) n.a. n.a.
Other lending (14)
25 Farmers Home Administration n.a. n.a.
26 Rural Electrification Administration 14,489 14,714
27 Other 22,528 21,278
2003
Agency
Feb. Mar.
1 Federal and federally sponsored agencies n.a. n.a.
2 Federal agencies 26,408 26,886
3 Defence Department (1) 6 6
4 Export-Import Bank (2,3) n.a. n.a.
5 Federal Housing Administration (4) 152 166
6 Government National Mortgage Association
certificates of participation (5) n.a. n.a.
7 Postal Service (6) n.a. n.a.
8 Tennessee Valley Authority 26,402 26,880
9 United States Railway Association (6) n.a. n.a.
10 Federally sponsored agencies (7) n.a. n.a.
11 Federal Home Loan Banks 684,495 687,573
12 Federal Home Loan Mortgage Corporation n.a. n.a.
13 Federal National Mortgage Association 871,000 873,900
14 Farm Credit Banks (8) 86,045 86,802
15 Student Loan Marketing Association (9) 50,900 49,100
16 Financing Corporation (10) 8,170 8,170
17 Farm Credit Financial Assistance
Corporation (11) 1,261 1,261
18 Resolution Funding Corporation (12) 29,996 29,996
MEMO
19 Federal Financing Bank debt (13) 35,794 35,780
Lending to federal and federally sponsored
agencies
20 Export-Import Bank (3) n.a. n.a.
21 Postal Services (6) n.a. n.a.
22 Student Loan Marketing Association n.a. n.a.
23 Tennessee Valley Authority n.a. n.a.
24 United States Railway Association (6) n.a. n.a.
Other lending (14)
25 Farmers Home Administration n.a. n.a.
26 Rural Electrification Administration 14,750 14,750
27 Other 21,044 21,030
2003
Agency
Apr.
1 Federal and federally sponsored agencies n.a.
2 Federal agencies 26,450
3 Defence Department (1) 6
4 Export-Import Bank (2,3) n.a.
5 Federal Housing Administration (4) 195
6 Government National Mortgage Association
certificates of participation (5) n.a.
7 Postal Service (6) n.a.
8 Tennessee Valley Authority 26,444
9 United States Railway Association (6) n.a.
10 Federally sponsored agencies (7) n.a.
11 Federal Home Loan Banks 706,215
12 Federal Home Loan Mortgage Corporation n.a.
13 Federal National Mortgage Association 871,500
14 Farm Credit Banks (8) 87,591
15 Student Loan Marketing Association (9) 51,200
16 Financing Corporation (10) 8,170
17 Farm Credit Financial Assistance
Corporation (11) 1,261
18 Resolution Funding Corporation (12) 29,996
MEMO
19 Federal Financing Bank debt (13) 35,808
Lending to federal and federally sponsored
agencies
20 Export-Import Bank (3) n.a.
21 Postal Services (6) n.a.
22 Student Loan Marketing Association n.a.
23 Tennessee Valley Authority n.a.
24 United States Railway Association (6) n.a.
Other lending (14)
25 Farmers Home Administration na.
26 Rural Electrification Administration 14,760
27 Other 21,048
(1.) Consists of mortgages assumed by the Defense Department between
1957 and 1963 under family housing and homeowners assistance programs.
(2.) Includes participation certificates reclassified as debt beginning
Oct 1, 1976.
(3.) On-budget since Sept. 30, 1976.
(4.) Consists of debentures issued in payment of Federal Housing
Administration insurance claims. Once issued, these securities may be
sold privately on the securities market.
(5.) Certificates of participation issued before fiscal year 1969 by
the Government National Mortgage Association acting as trustee for the
Farmers Home Administration; the Department of Health, Education, and
Welfare; the Department of Housing and Urban Development; the Small
Business Administration; and the Veterans Administration.
(6.) Off-budget.
(7.) Includes outstanding noncontingent liabilities: notes, bonds, and
debentures. Includes Federal Agriculture Mortgage Corporation;
therefore, details do not sum to total. Some data are estimated.
(8.) Excludes borrowing by the Farm Credit Financial Assistance
Corporation, which is shown on line 17.
(9.) Before late 1982, the association obtained financing through the
Federal Financing Bank (FFB). Borrowing excludes that obtained from the
FFB, which is shown on line 22.
(10.) The Financing Corporation, established in August 1987 to
recapitalize the Federal Savings and Loan Insurance Corporation,
undertook its first borrowing in October 1987.
(11.) The Farm Credit Financial Assistance Corporation, established in
January 1988 to provide assistance to the Farm Credit System undertook
its first borrowing in July 1998.
(12.) The Resolution Funding Corporation, established by the Financial
Institutions Reform, Recovery, and Enforcement Act of 1989, undertook
its first borrowing in October 1989.
(13.) The FFB, which began operations in 1974, is authorized to purchase
or sell obligations issued, sold, or guaranteed by other federal
agencies. Because FFB incurs debt solely for the purpose of lending to
other agencies, its debt is not included in the main portion of the
table to avoid double counting.
(14.) Includes FFB purchase of agency assets and guaranteed loans; the
latter are loans guaranteed by numerous agencies, with the amounts
guaranteed by any one agency generally being small. The Farmers Home
Administration entry consists exclusively of agency assets, whereas
the Rural Electrification Administration entry consists of both agency
assets and guaranteed loans.
1.45 NEW SECURITY ISSUES State and Local Governments
Millions of dollars
Type of issue or issuer,
or use 2000 2001
1 All issues, new and refunding (1) 180,403 292,027 (r)
By type of issue
2 General obligation 64,475 118,554
3 Revenue 115,928 170,047
By type of issuer
4 State 19,944 30,099
5 Special district or statutory
authority (2) 121,185 197,462
6 Municipality, county, or township 39,273 61,040
7 Issues for new capital 154,257 200,363
By use of proceeds
8 Education 38,665 50,054
9 Transportation 19,730 21,411
10 Utilities and conservation 11,917 21,917
11 Social welfare n.a. n.a.
12 Industrial aid 7,122 6,607
13 Other purposes 47,309 55,733
2002
Type of issue or issuer,
or use 2002 Nov.
1 All issues, new and refunding (1) 364,002 (r) 37,146 (r)
By type of issue
2 General obligation 145,323 11,023
3 Revenue 214,788 24,942
By type of issuer
4 State 33,931 2,109
5 Special district or statutory
authority (2) 259,070 28,296
6 Municipality, county, or township 67,121 5,570
7 Issues for new capital 243,285 (r) 26,505
By use of proceeds
8 Education 57,894 3,743
9 Transportation 22,093 1,250
10 Utilities and conservation 33,404 8,379
11 Social welfare n.a. n.a.
12 Industrial aid 7,227 821
13 Other purposes 73,033 7,189
2003
Type of issue or issuer,
or use Dec. Jan.
1 All issues, new and refunding (1) 27,418 (r) 27,132 (r)
By type of issue
2 General obligation 8,431 8,112
3 Revenue 18,961 17,049
By type of issuer
4 State 1,670 1,927
5 Special district or statutory
authority (2) 20,151 17,979
6 Municipality, county, or township 5,570 5,290
7 Issues for new capital 19,754 18,805 (r)
By use of proceeds
8 Education 5,292 4,823
9 Transportation 1,160 1,417
10 Utilities and conservation 2,031 2,196
11 Social welfare n.a. n.a.
12 Industrial aid 796 422
13 Other purposes 4,992 7,400
2003
Type of issue or issuer,
or use Feb. (r) Mar. (r)
1 All issues, new and refunding (1) 30,080 27,899
By type of issue
2 General obligation 12,739 10,103
3 Revenue 17,341 17,796
By type of issuer
4 State 3,654 1,277
5 Special district or statutory
authority (2) 20,769 19,596
6 Municipality, county, or township 5,657 7,026
7 Issues for new capital 20,274 15,939
By use of proceeds
8 Education 7,065 5,254
9 Transportation 1,625 1,233
10 Utilities and conservation 176 593
11 Social welfare n.a. n.a.
12 Industrial aid 1,094 1,705
13 Other purposes 7,178 3,722
2003
Type of issue or issuer,
or use Apr. (r) May (r)
1 All issues, new and refunding (1) 34,761 33,680
By type of issue
2 General obligation 14,782 11,991
3 Revenue 19,979 21,690
By type of issuer
4 State 5,521 2,818
5 Special district or statutory
authority (2) 23,829 21,620
6 Municipality, county, or township 5,410 9,242
7 Issues for new capital 24,593 19,903
By use of proceeds
8 Education 7,570 6,023
9 Transportation 3,479 1,891
10 Utilities and conservation 771 1,008
11 Social welfare n.a. n.a.
12 Industrial aid 1,816 3,103
13 Other purposes 8,387 5,537
2003
Type of issue or issuer,
or use June
1 All issues, new and refunding (1) 47,173
By type of issue
2 General obligation 23,765
3 Revenue 23,408
By type of issuer
4 State 14,411
5 Special district or statutory
authority (2) 25,306
6 Municipality, county, or township 7,456
7 Issues for new capital 35,914
By use of proceeds
8 Education 5,995
9 Transportation 2,097
10 Utilities and conservation 2,003
11 Social welfare n.a.
12 Industrial aid 1,842
13 Other purposes 19,904
(1.) Par amounts of long-term issues based on date of sale.
(2.) Includes school districts.
SOURCE: Securities Data Company beginning January 1990; Investments
Dealer's Digest before them.
1.46 NEW SECURITY ISSUES U.S. Corporations
Millions of dollars
Type of issue, offering, 2000 2001
or issuer
1 All issues (1) 1,079,727 (r) 1,541,821 (r)
2 Bonds (2) 944,810 (r) 1,413,267 (r)
By type of offering
3 Sold in the United States 822,012 (r) 1,356,879 (r)
4 Sold abroad 122,798 56,389
MEMO
5 Private placements, domestic 18,370 16,385
By industry group
6 Nonfinancial 258,804 (r) 459,560 (r)
7 Financial 686,006 (r) 953,707 (r)
8 Stocks (3) 311,941 230,632
By type of offering
9 Public 134,917 128,554
10 Private placement (4) 177,024 102,078
By industry group
11 Nonfinancial 118,369 77,577
12 Financial 16,548 501,977
Type of issue, offering, 2002
or issuer 2002
Oct.
1 All issues (1) 1,429,298 (r) 93,439 (r)
2 Bonds (2) 1,318,863 (r) 85,606 (r)
By type of offering
3 Sold in the United States 1,232,618 (r) 81,409 (r)
4 Sold abroad 86,246 4,197
MEMO
5 Private placements, domestic 16,224 0
By industry group
6 Nonfinancial 282,484 (r) 14,906 (r)
7 Financial 1,036,379 (r) 70,700 (r)
8 Stocks (3) 170,673 7,833
By type of offering
9 Public 110,435 7,833
10 Private placement (4) 60,238 n.a.
By industry group
11 Nonfinancial 62,115 3,731
12 Financial 48,320 4,102
Type of issue, offering, 2002
or issuer
Nov. Dec.
1 All issues (1) 119,659 (r) 127,061 (r)
2 Bonds (2) 109,726 (r) 120,183 (r)
By type of offering
3 Sold in the United States 104,112 (r) 114,332 (r)
4 Sold abroad 5,614 5,851
MEMO
5 Private placements, domestic 3,525 5,060
By industry group
6 Nonfinancial 22,029 (r) 20,751 (r)
7 Financial 87,697 (r) 99,433 (r)
8 Stocks (3) 9,933 6,878
By type of offering
9 Public 9,933 6,878
10 Private placement (4) n.a. n.a.
By industry group
11 Nonfinancial 4,533 4,154
12 Financial 5,400 2.724
Type of issue, offering, 2003
or issuer
Jan. Feb.
1 All issues (1) 127,304 (r) 134,957 (r)
2 Bonds (2) 120,177 (r) 127,818 (r)
By type of offering
3 Sold in the United States 113,951 (r) 118,567 (r)
4 Sold abroad 6,226 9,250
MEMO
5 Private placements, domestic 4,700 0
By industry group
6 Nonfinancial 28,461 (r) 26,991 (r)
7 Financial 91,716 (r) 100,826 (r)
8 Stocks (3) 7,127 7,139
By type of offering
9 Public 7,127 7,139
10 Private placement (4) n.a. n.a.
By industry group
11 Nonfinancial 3,793 2,679
12 Financial 3,334 4,460
Type of issue, offering, 2003
or issuer
Mar. Apr.
1 All issues (1) 155,821 (r) 125,223 (r)
2 Bonds (2) 149,928 (r) 116,861 (r)
By type of offering
3 Sold in the United States 144,315 (r) 114,277 (r)
4 Sold abroad 5,613 2,585
MEMO
5 Private placements, domestic 0 0
By industry group
6 Nonfinancial 27,514 (r) 22,153 (r)
7 Financial 122,414 (r) 94,708 (r)
8 Stocks (3) 5,893 8,362
By type of offering
9 Public 5,893 8,362
10 Private placement (4) n.a. n.a.
By industry group
11 Nonfinancial 1,053 1,592
12 Financial 4,840 6,770
Type of issue, offering, 2003
or issuer
May
1 All issues (1) 170,003
2 Bonds (2) 161,265
By type of offering
3 Sold in the United States 149,437
4 Sold abroad 11,828
MEMO
5 Private placements, domestic 3,258
By industry group
6 Nonfinancial 48,353
7 Financial 112,912
8 Stocks (3) 8,738
By type of offering
9 Public 8,738
10 Private placement (4) n.a.
By industry group
11 Nonfinancial 3,075
12 Financial 5,663
(1.) Figures represent gross proceeds of issues maturing in more than
one year; they are the principal amount or number of units calculated
by multiplying by the offering price. Figures exclude secondary
offerings, employee stock plans, investment companies other than
closed-end, intracorporate transactions, Yankee bonds, and private
placements listed. Stock data include ownership securities issued by
limited partnerships.
(2.) Monthly data include 144(a) offerings.
(3.) Monthly data cover only public offerings.
(4.) Data for private placements are not available at a monthly
frequency.
Source: Securities Data Company and the Board of Governors of the
Federal Reserve System.
1.47 OPEN-END INVESTMENT COMPANIES Net Sales and Assets (1)
Millions of dollars
2002
Item 2001 2002 Nov.
1 Sales of own shares (2) 1,806,474 1,825,890 137,914
2 Redemptions of own shares 1,677,266 1,702,657 122,125
3 Net sales (3) 129,208 123,233 15,789
4 Assets (4) 4,689,624 4,119,322 4,249,351
5 Cash (5) 219,620 208,479 219,213
6 Other 4,470,004 3,910,843 4,030,138
2002 2003
Item Dec. Jan. Feb.
1 Sales of own shares (2) 134,383 152,647 122,321
2 Redemptions of own shares 135,213 138,951 113,643
3 Net sales (3) -830 13,696 8,678
4 Assets (4) 4,119,322 4,060,568 4,031,818
5 Cash (5) 208,479 212,792 199,546
Other (6) 3,910,843 3,847,776 3,832,272
2003
Item Mar. Apr. May (r)
1 Sales of own shares (2) 140,643 141,465 142,688
2 Redemptions of own shares 129,337 112,109 118,794
3 Net sales (3) 11,306 29,356 23,894
4 Assets (4) 4,059,934 4,327,560 4,563,023
5 Cash (5) 214,146 230,032 232,836
Other (6) 3,845,788 4,097,528 4,330,187
2003
Item June
1 Sales of own shares (2) 161,930
2 Redemptions of own shares 133,992
3 Net sales (3) 27,938
4 Assets (4) 4,653,262
5 Cash (5) 237,301
Other (6) 4,415,961
(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 finds 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 their initial offering of securities.
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.
1.51 DOMESTICS FINANCE COMPANIES Assets and Liabilities (1)
Billion of dollars, end of period; not seasonally adjusted
Account 2000 2001 2002
ASSETS
1 Accounts receivable, grass (2) 958.7 948.3 945.4
2 Consumer 328.0 340.1 315.6
3 Business 458.4 447.0 455.3
4 Real estate 172.3 161.3 174.5
5 LESS: Reserves for unearned income 69.7 60.6 57.0
6 Reserves for losses 16.7 21.0 23.8
7 Accounts receivable, net 872.3 866.7 864.5
8 All other 461.5 523.4 584.7
9 Total assets 1,333.7 1,390.1 1,449.3
LIABILITIES AND CAPITAL
10 Bank loans 35.9 50.8 48.0
11 Commercial paper 238.8 158.6 141.5
Debt
12 Owed in parent 102.5 992.0 88.2
13 Not elsewhere classified 502.2 567.4 624.9
14 All other liabilities 301.8 325.5 339.0
15 Capital, surplus, and undivided
profits 152.5 188.6 207.6
16 Total liabilities and capital 1,333.7 1,390.1 1,449.3
2001 2002
Account
Q4 Q1 Q2
ASSETS
1 Accounts receivable, grass (2) 948.3 930.0 941.9
2 Consumer 340.1 329.8 332.0
3 Business 447.1 443.0 449.4
4 Real estate 161.3 157.2 160.5
5 LESS: Reserves for unearned income 60.6 595.0 58.5
6 Reserves for losses 21.0 21.5 21.6
7 Accounts receivable, net 866.7 849.0 861.9
8 All other 523.4 515.2 530.6
9 Total assets 1,390.1 1,364.2 1,392.5
LIABILITIES AND CAPITAL
10 Bank loans 50.8 49.4 56.9
11 Commercial paper 158.6 137.0 130.8
Debt
12 Owed in parent 99.2 82.6 83.3
13 Not elsewhere classified 567.4 574.4 597.2
14 All other liabilities 325.5 329.1 331.5
15 Capital, surplus, and undivided
profits 188.6 191.7 192.9
16 Total liabilities and capital 1,390.1 1,364.2 1,392.5
2002 2003
Account
Q3 Q4 Q1
ASSETS
1 Accounts receivable, grass (2) 945.6 945.4 934.8
2 Consumer 334.5 315.6 307.0
3 Business 445.5 455.3 453.9
4 Real estate 165.5 174.5 174.0
5 LESS: Reserves for unearned income 58.0 57.0 54.2
6 Reserves for losses 22.0 23.8 24.0
7 Accounts receivable, net 865.6 864.5 856.7
8 All other 558.0 584.7 610.9
9 Total assets 1,423.6 1,449.3 1,467.6
LIABILITIES AND CAPITAL
10 Bank loans 74.9 48.0 47.3
11 Commercial paper 143.1 141.5 127.3
Debt
12 Owed in parent 82.9 88.2 87.7
13 Not elsewhere classified 584.9 624.9 639.1
14 All other liabilities 343.4 339.0 344.4
15 Capital, surplus, and undivided
profits 194.5 207.6 221.8
16 Total liabilities and capital 1,423.6 1,449.3 1,467.6
2003
Account
Q2
ASSETS
1 Accounts receivable, grass (2) n.a.
2 Consumer n.a.
3 Business n.a.
4 Real estate n.a.
5 LESS: Reserves for unearned income n.a.
6 Reserves for losses n.a.
7 Accounts receivable, net n.a.
8 All other n.a.
9 Total assets n.a.
LIABILITIES AND CAPITAL
10 Bank loans n.a.
11 Commercial paper n.a.
Debt
12 Owed in parent n.a.
13 Not elsewhere classified n.a.
14 All other liabilities n.a.
15 Capital, surplus, and undivided
profits n.a.
16 Total liabilities and capital n.a.
(1.) Includes finance company subsidiaries of bank holding companies
but not of retailers and banks. Data are amounts carried on the balance
sheets of finance companies; secutirized pools are not shown, as they
are not on the books.
(2.) Before deduction for unearned income and losses. Excludes pools of
secutirized assets.
1.52 DOMESTIC FINANCE COMPANIES Owned and Managed Receivables (1)
Billions of dollars, amount outstanding
Type of credit 2000 2001 2002
Seasonally adjusted
1 Total 1,185.6 1,246.6 1,270.5 (r)
2 Consumer 464.4 513.3 513.1
3 Real estate 198.9 207.7 216.5
4 Business 522.3 525.6 540.9 (r)
Not seasonally adjusted
5 Total 1,192.2 1,253.7 1,277.8 (r)
6 Consumer 468.3 518.1 518.4
7 Motor vehicle loans 141.6 173.9 160.2
8 Motor vehicle leases 108.2 103.5 83.3
9 Revolving (2) 37.6 31.5 38.9
10 Other 40.7 31.1 33.1
Securitized assets (4)
11 Motor vehicle loans 97.1 131.9 151.9 (r)
12 Motor vehicle leases 6.6 6.8 5.7 (r)
13 Revolving 19.6 25.0 31.1 (r)
14 Other 17.1 14.3 14.0 (r)
15 Real estate 198.9 207.7 216.5
16 One- to four-family 130.6 120.1 135.0
17 Other 41.7 41.2 39.5
Securitized real estate
assets (4)
18 One- to four-family 24.7 40.7 39.7
19 Other 1.9 5.7 2.2
20 Business 525.0 527.9 543.0 (r)
21 Motor vehicles 75.5 54.0 60.7
22 Retail loans 18.3 16.1 15.4
23 Wholesale loans (5) 39.7 20.3 29.3
24 Leases 17.6 17.6 16.0
25 Equipment 283.5 289.4 292.1
26 Loans 70.2 77.8 83.3
27 Leases 213.3 211.6 208.8
28 Other business receivables (6) 99.4 103.5 102.5
Securitized assets (4)
29 Motor vehicles 37.8 50.1 50.2
30 Retail loans 3.2 5.1 2.4
31 Wholesale loans 32.5 42.5 45.9
32 Leases 2.2 2.5 1.9
33 Equipment 23.1 23.2 20.2
34 Loans 15.5 16.4 13.0
35 Leases 7.6 6.8 7.2
36 Other business
receivables (6) 5.6 7.7 17.4 (r)
2002 2003
Type of credit
Dec. Jan.
Seasonally adjusted
1 Total 1,270.5 (r) 1,274.4 (r)
2 Consumer 513.1 517.3 (r)
3 Real estate 216.5 215.4
4 Business 540.9 (r) 541.8 (r)
Not seasonally adjusted
5 Total 1,277.8 (r) 1,277.0 (r)
6 Consumer 518.4 518.5
7 Motor vehicle loans 160.2 160.2
8 Motor vehicle leases 83.3 81.9
9 Revolving (2) 38.9 38.7
10 Other 33.1 33.1
Securitized assets (4)
11 Motor vehicle loans 151.9 (r) 154.3 (r)
12 Motor vehicle leases 5.7 (r) 5.7 (r)
13 Revolving 31.1 (r) 30.4 (r)
14 Other 14.0 (r) 14.2 (r)
15 Real estate 216.5 215.4
16 One- to four-family 135.0 134.1
17 Other 39.5 39.6
Securitized real estate
assets (4)
18 One- to four-family 39.7 39.4
19 Other 2.2 2.2
20 Business 543.0 (r) 543.1 (r)
21 Motor vehicles 60.7 58.6
22 Retail loans 15.4 15.1
23 Wholesale loans (5) 29.3 27.5
24 Leases 16.0 15.9
25 Equipment 292.1 292.0
26 Loans 83.3 80.1
27 Leases 208.8 211.8
28 Other business receivables (6) 102.5 104.7
Securitized assets (4)
29 Motor vehicles 50.2 50.3
30 Retail loans 2.4 2.4
31 Wholesale loans 45.9 46.1
32 Leases 1.9 1.8
33 Equipment 20.2 20.1
34 Loans 13.0 12.9
35 Leases 7.2 7.2
36 Other business
receivables (6) 17.4 (r) 17.3 (r)
2003
Type of credit
Feb. Mar.
Seasonally adjusted
1 Total 1,268.0 (r) 1,275.0 (r)
2 Consumer 510.6 513.6
3 Real estate 215.6 215.4
4 Business 541.8 (r) 546.0 (r)
Not seasonally adjusted
5 Total 1,268.3 (r) 1,278.3 (r)
6 Consumer 510.8 510.2
7 Motor vehicle loans 162.3 156.0
8 Motor vehicle leases 80.3 81.8
9 Revolving (2) 37.3 36.4
10 Other 32.6 32.9
Securitized assets (4)
11 Motor vehicle loans 148.7 (r) 152.3 (r)
12 Motor vehicle leases 5.6 (r) 6.2 (r)
13 Revolving 30.1 (r) 30.7 (r)
14 Other 13.8 (r) 13.9 (r)
15 Real estate 215.6 215.4
16 One- to four-family 134.3 133.9
17 Other 39.9 40.1
Securitized real estate
assets (4)
18 One- to four-family 39.1 39.2
19 Other 2.2 2.2
20 Business 541.9 (r) 552.8 (r)
21 Motor vehicles 60.3 65.3
22 Retail loans 14.8 16.3
23 Wholesale loans (5) 30.5 34.0
24 Leases 15.0 15.0
25 Equipment 288.9 287.5
26 Loans 80.3 78.0
27 Leases 208.6 209.5
28 Other business receivables (6) 104.4 101.1
Securitized assets (4)
29 Motor vehicles 50.9 53.1
30 Retail loans 2.3 2.2
31 Wholesale loans 46.8 48.6
32 Leases 1.8 2.2
33 Equipment 19.4 21.9
34 Loans 12.3 12.2
35 Leases 7.1 9.7
36 Other business
receivables (6) 18.0 (r) 23.9 (r)
2003
Type of credit
Apr. May
Seasonally adjusted
1 Total 1,281.2 (r) 1,286.0 (r)
2 Consumer 516.7 (r) 514.6
3 Real estate 220.2 224.2
4 Business 545.2 (r) 548.0 (r)
Not seasonally adjusted
5 Total 1,284.4 (r) 1,286.3 (r)
6 Consumer 512.2 (r) 509.3
7 Motor vehicle loans 160.6 (r) 174.0
8 Motor vehicle leases 81.2 79.0
9 Revolving (2) 38.3 (r) 35.9
10 Other 33.1 (r) 32.0
Securitized assets (4)
11 Motor vehicle loans 149.7 (r) 138.8 (r)
12 Motor vehicle leases 6.1 (r) 6.0 (r)
13 Revolving 30.6 (r) 30.7 (r)
14 Other 13.6 (r) 13.4 (r)
15 Real estate 220.2 224.2
16 One- to four-family 138.8 143.0
17 Other 40.3 40.4
Securitized real estate
assets (4)
18 One- to four-family 389.0 38.6
19 Other 2.2 22.0
20 Business 552.0 (r) 552.8 (r)
21 Motor vehicles 64.1 65.8
22 Retail loans 16.8 17.1
23 Wholesale loans (5) 34.5 36.1
24 Leases 12.8 12.6
25 Equipment 286.9 286.5
26 Loans 79.4 78.3
27 Leases 207.5 208.1
28 Other business receivables (6) 102.6 102.5
Securitized assets (4)
29 Motor vehicles 53.1 52.2
30 Retail loans 2.2 2.2
31 Wholesale loans 48.6 47.8
32 Leases 22.0 2.2
33 Equipment 21.4 21.6
34 Loans 11.6 12.0
35 Leases 9.6 4.6
36 Other business
receivables (6) 23.9 (r) 24.2
NOTE. This table has been revised to incorporate several changes
resulting from the benchmarking of finance company receivables to the
June 1996 Survey of Finance Companies. In that benchmark survey, and in
the monthly surveys that have followed, more detailed breakdowns have
been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table.
The new information has resulted in some reclassification of
receivables among the three major categories (consumer, real estate,
and business) and in discontinuities in some component series between
May and June 1996.
Includes finance company subsidiaries of bank holding companies but not
of retailers and banks. Data in this table also appear in the Board's
G.20 (422) monthly statistical release. For ordering address, see
inside front cover.
(1.) Owned receivables are those carried on the balance sheet of the
institution. Managed receivables are outstanding balances of pools upon
which securities have been issued; these balances are no longer carried
on the balance sheets of the loan originator. Data are shown before
deductions for unearned income and losses. Components may not sum to
totals because of rounding.
(2.) Excludes revolving credit reported as held by depository
institutions that are subsidiaries of bounce 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
Million of dollars except as noted
Item 2000 2001 2002
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 234.5 245.0 261.1
2 Amount of loan (thousands of dollars) 177.0 184.2 197.0
3 Loan-to-price ratio (percent) 77.4 77.3 77.8
4 Maturity (years) 29.2 28.8 28.9
5 Fees and charges (percent of loan
amount) (2) .70 .67 .62
Yield (percent per year)
6 Contract rate (1) 7.41 6.90 6.35
7 Effective rate (1,3) 7.52 7.00 6.44
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) 7.57 6.36 5.81
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 610,122 707,015 790,800
12 FHA/VA insured 61,539 n.a. n.a.
13 Conventional 548,583 n.a. n.a.
14 Mortgage transactions purchased
(during period) 154,231 270,384 370,641
Mortgage commitments (end of period)
15 Issued (7) 163,689 304,084 400,327
16 To sell (8) 11,786 7,586 12,268
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 385,693 491,719 568,173
18 FHA/VA insured 3,332 3,506 4,573
19 Conventional 382,361 488,213 563,600
Mortgage transactions (during period)
20 Purchases 174,043 n.a. n.a.
21 Sales 166,901 389,611 547,046
22 Mortgage commitments contracted
(during period) (9) 169,231 417,434 620,981
2002 2003
Item
Dec. Jan. Feb.
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 266.9 278.9 235.1
2 Amount of loan (thousands of dollars) 205.1 214.0 179.3
3 Loan-to-price ratio (percent) 79.0 79.3 78.0
4 Maturity (years) 28.7 28.9 28.3
5 Fees and charges (percent of loan
amount) (2) .64 .79 .37
Yield (percent per year)
6 Contract rate (1) 5.95 6.00 5.76
7 Effective rate (1,3) 6.04 6.12 5.82
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) 5.17 5.18 5.03
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 790,800 810,609 816,747
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions purchased
(during period) 67,891 57,281 40,420
Mortgage commitments (end of period)
15 Issued (7) 30,769 27,814 52,479
16 To sell (8) 1,555 2,717 1,241
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 568,173 568,494 561,534
18 FHA/VA insured 4,573 4,256 3,796
19 Conventional 563,600 564,238 557,738
Mortgage transactions (during period)
20 Purchases n.a. n.a. n.a.
21 Sales 73,184 48,169 41,831
22 Mortgage commitments contracted
(during period) (9) 91,223 55,057 48,446
2003
Item
Mar Apr. May
Terms and yields in primary
and secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 252.9 266.0 275.3
2 Amount of loan (thousands of dollars) 184.2 205.0 210.7
3 Loan-to-price ratio (percent) 76.2 78.8 78.7
4 Maturity (years) 28.2 29.0 28.8
5 Fees and charges (percent of loan
amount) (2) .40 .62 .61
Yield (percent per year)
6 Contract rate (1) 5.69 5.83 5.66
7 Effective rate (1,3) 5.75 5.92 5.75
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) 4.94 4.97 4.55
Activity in secondary
markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 815,964 817,894 81,556
12 FHA/VA insured n.a. n.a. n.a.
13 Conventional n.a. n.a. n.a.
14 Mortgage transactions purchased
(during period) 34,304 43,028 43,749
Mortgage commitments (end of period)
15 Issued (7) 42,005 n.a. n.a.
16 To sell (8) 2,457 n.a. n.a.
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 569,522 568,975 572,801
18 FHA/VA insured 3,540 n.a. n.a.
19 Conventional 565,982 n.a. n.a.
Mortgage transactions (during period)
20 Purchases n.a. n.a. n.a.
21 Sales 59,065 51,737 66,175
22 Mortgage commitments contracted
(during period) (9) 69,200 n.a. n.a.
2003
Item
June
Terms and yields
in primary and
secondary markets
PRIMARY MARKETS
Terms (1)
1 Purchase price (thousands of dollars) 283.3
2 Amount of loan (thousands of dollars) 213.7
3 Loan-to-price ratio (percent) 78.0
4 Maturity (years) 28.8
5 Fees and charges (percent of loan
amount) (2) .64
Yield (percent per year)
6 Contract rate (1) 5.42
7 Effective rate (1,3) 5.51
8 Contract rate (HUD Series) (4) n.a.
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203) (5) n.a.
10 GNMA securities (6) 4.27
Activity in
secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total 812,467
12 FHA/VA insured n.a.
13 Conventional n.a.
14 Mortgage transactions purchased
(during period) 41,182
Mortgage commitments (end of period)
15 Issued (7) n.a.
16 To sell (8) n.a.
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period) (8)
17 Total 586,361
18 FHA/VA insured n.a.
19 Conventional n.a.
Mortgage transactions (during period)
20 Purchases n.a.
21 Sales 58,124
22 Mortgage commitments contracted
(during period) (9) n.a.
(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 firm 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 Corporations mortgage commitments and
mortgage transactions include activity under mortgage securities swap
programs, whereas the corresponding data for the Federal National
Mortgage Association exclude swap activity.
1.54 MORTGAGE DEBT OUTSTANDING (1)
Millions of dollars, end of period
Type of holder and property 1999 2000 2001
1 All holders 6,318,668 6,890,112 7,600,717
By type of property
2 One- to four-family residences 4,787,225 5,205,428 5,738,111
3 Multifamily residences 369,982 405,410 453,569
4 Nonfarm, nonresidential 1,058,498 1,170,417 1,292,701
5 Farm 102,964 108,858 116,336
By type of holder
6 Major financial institutions 2,394,271 2,618,969 2,791,076
7 Commercial banks (2) 1,495,420 1,660,054 1,789,819
8 One- to four-family 879,576 965,635 1,023,851
9 Multifamily 67,665 77,803 84,851
10 Nonfarm, nonresidential 516,333 582,577 645,619
11 Farm 31,846 34,039 35,498
12 Savings institutions (3) 668,064 722,974 758,236
13 One- to four-family 548,222 594,221 620,579
14 Multifamily 59,309 61,258 64,592
15 Nonfarm, nonresidential 60,063 66,965 72,534
16 Farm 470 529 531
17 Life insurance companies 230,787 235,941 243,021
19 One- to four-family 5,934 4,903 4,931
19 Multifamily 32,818 33,681 35,631
20 Nonfarm, nonresidential 179,048 183,757 188,376
21 Farm 12,987 13,600 14,083
22 Federal and related agencies 320,054 344,225 376,999
23 Government National Mortgage
Association 7 6 8
24 One- to four-family 7 6 8
25 Multifamily 0 0 0
26 Farmers Home Administration
(4) 73,871 73,323 72,452
27 One- to four-family 16,506 16,372 15,824
28 Multifamily 11,741 11,733 11,712
29 Nonfarm, nonresidential 41,355 41,070 40,965
30 Farm 4,268 4,148 3,952
31 Federal Housing Admin. and
Dept. of Veterans Affairs 3,712 3,507 3,290
32 One- to four-family 1,851 1,308 1,260
33 Multifamily 1,861 2,199 2,031
34 Resolution Trust Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 152 45 13
40 One- to four-family 25 7 2
41 Multifamily 29 9 3
42 Nonfarm, nonresidential 98 29 8
43 Farm 0 0 0
44 Federal National Mortgage
Association 149,422 155,626 169,908
45 One- to four-family 141,195 144,150 155,060
46 Multifamily 8,227 11,476 14,848
47 Federal Land Banks 34,187 36,326 40,885
48 One- to four-family 2,012 2,137 2,406
49 Farm 32,175 34,189 38,479
50 Federal Home Loan Mortgage
Corporation 56,676 59,240 62,792
51 One- to four-family 44,321 42,871 40,309
52 Multifamily 12,355 16,369 22,483
53 Mortgage pools or trusts (5) 2,949,768 3,231,228 3,715,980
54 Government National Mortgage
Association 582,263 611,553 591,368
55 One- to four-family 565,189 592,624 569,460
56 Multifamily 17,074 18,929 21,908
57 Federal Home Loan Mortgage
Corporation 749,081 822,310 948,409
58 One- to four-family 744,619 816,602 940,933
59 Multifamily 4,462 5,708 7,476
60 Federal National Mortgage
Association 960,883 1,057,750 1,290,351
61 One- to four-family 924,941 1,016,398 1,238,125
62 Multifamily 35,942 41,352 52,226
63 Farmers Home Administration
(4) 0 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 0 0 0
68 Private mortgage conduits 657,541 739,615 885,852
69 One- to four-family (6) 455,021 499,834 591,200
70 Multifamily 43,192 49,215 57,402
71 Nonfarm, nonresidential 159,328 190,566 237,250
72 Farm 0 0 0
73 Individuals and others (7) 654,576 695,691 716,661
74 One- to four-family 456,009 492,429 506,669
75 Multifamily 75,076 75,457 78,252
76 Nonfarm, nonresidential 102,274 105,453 107,949
77 Farm 21,217 22,352 23,792
2002
Type of holder and property Q1 Q2 Q3
1 All holders 7,764,707 7,983,403 8,216,087
By type of property
2 One- to four-family residences 5,875,739 6,049,597 6,247,731
3 Multifamily residences 461,227 472,710 480,353
4 Nonfarm, nonresidential 1,309,610 1,340,644 1,364,389
5 Farm 118,131 120,452 123,614
By type of holder
6 Major financial institutions 2,788,410 2,861,012 2,981,490
7 Commercial banks (2) 1,799,118 1,873,362 1,962,198
8 One- to four-family 1,017,001 1,070,513 1,143,985
9 Multifamily 86,676 90,745 90,930
10 Nonfarm, nonresidential 659,452 675,119 689,481
11 Farm 35,990 36,985 37,802
12 Savings institutions (3) 745,998 742,732 773,652
13 One- to four-family 605,171 599,402 625,402
14 Multifamily 65,199 66,009 68,668
15 Nonfarm, nonresidential 75,077 76,768 79,022
16 Farm 551 552 560
17 Life insurance companies 243,293 244,918 245,639
19 One- to four-family 4,938 5,162 5,176
19 Multifamily 35,671 35,818 35,921
20 Nonfarm, nonresidential 188,599 189,850 190,398
21 Farm 14,085 14,088 14,144
22 Federal and related agencies 385,027 396,091 412,014
23 Government National Mortgage
Association 8 8 8
24 One- to four-family 8 8 8
25 Multifamily 0 0 0
26 Farmers Home Administration
(4) 72,362 71,970 72,030
27 One- to four-family 15,665 15,273 15,139
28 Multifamily 11,707 11,692 11,686
29 Nonfarm, nonresidential 41,134 41,188 41,439
30 Farm 3,855 3,817 3,766
31 Federal Housing Admin. and
Dept. of Veterans Affairs 3,361 3,473 2,973
32 One- to four-family 1,255 1,254 1,252
33 Multifamily 2,105 2,218 1,721
34 Resolution Trust Corporation 0 0 0
35 One- to four-family 0 0 0
36 Multifamily 0 0 0
37 Nonfarm, nonresidential 0 0 0
38 Farm 0 0 0
39 Federal Deposit Insurance
Corporation 7 22 13
40 One- to four-family 1 4 2
41 Multifamily 1 4 2
42 Nonfarm, nonresidential 4 14 8
43 Farm 0 0 0
44 Federal National Mortgage
Association 176,051 180,491 184,191
45 One- to four-family 160,300 164,038 167,006
46 Multifamily 15,751 16,453 17,185
47 Federal Land Banks 41,981 42,951 44,782
48 One- to four-family 2,470 2,527 2,635
49 Farm 39,511 40,424 42,147
50 Federal Home Loan Mortgage
Corporation 59,624 58,872 60,934
51 One- to four-family 35,955 34,062 34,616
52 Multifamily 23,669 24,810 26,318
53 Mortgage pools or trusts (5) 3,869,277 3,987,579 4,067,069
54 Government National Mortgage
Association 587,204 583,745 567,386
55 One- to four-family 564,108 559,549 542,208
56 Multifamily 23,096 24,196 25,178
57 Federal Home Loan Mortgage
Corporation 1,012,478 1,053,261 1,058,176
58 One- to four-family 1,005,136 1,045,981 1,050,899
59 Multifamily 7,342 7,280 7,277
60 Federal National Mortgage
Association 1,355,404 1,404,594 1,458,945
61 One- to four-family 1,301,374 1,349,442 1,402,929
62 Multifamily 54,030 55,152 56,016
63 Farmers Home Administration
(4) 0 0 0
64 One- to four-family 0 0 0
65 Multifamily 0 0 0
66 Nonfarm, nonresidential 0 0 0
67 Farm 0 0 0
68 Private mortgage conduits 914,191 945,979 982,562
69 One- to four-family (6) 616,300 638,300 669,300
70 Multifamily 57,758 59,577 60,227
71 Nonfarm, nonresidential 240,134 248,102 253,036
72 Farm 0 0 0
73 Individuals and others (7) 721,993 738,721 755,514
74 One- to four-family 514,560 525,893 540,187
75 Multifamily 78,085 78,639 79,127
76 Nonfarm, nonresidential 105,210 109,604 111,005
77 Farm 24,138 24,585 25,194
2002 2003
Type of holder and property Q4 Q1 (p)
1 All holders 8,485,921 8,702,551
By type of property
2 One- to four-family residences 6,459,996 6,643,673
3 Multifamily residences 498,407 507,399
4 Nonfarm, nonresidential 1,401,701 1,424,827
5 Farm 125,818 126,652
By type of holder
6 Major financial institutions 3,090,033 3,167,197
7 Commercial banks (2) 2,059,267 2,100,238
8 One- to four-family 1,222,443 1,245,250
9 Multifamily 94,178 96,830
10 Nonfarm, nonresidential 704,621 719,455
11 Farm 38,025 38,704
12 Savings institutions (3) 781,378 815,873
13 One- to four-family 631,392 662,858
14 Multifamily 68,679 69,757
15 Nonfarm, nonresidential 80,730 82,669
16 Farm 577 589
17 Life insurance companies 249,387 251,086
19 One- to four-family 5,255 5,035
19 Multifamily 36,470 36,869
20 Nonfarm, nonresidential 193,301 195,402
21 Farm 14,361 13,780
22 Federal and related agencies 437,641 461,119
23 Government National Mortgage
Association 5 6
24 One- to four-family 5 6
25 Multifamily 0 0
26 Farmers Home Administration
(4) 72,377 69,988
27 One- to four-family 14,908 14,652
28 Multifamily 11,669 11,654
29 Nonfarm, nonresidential 42,101 40,093
30 Farm 3,700 3,590
31 Federal Housing Admin. and
Dept. of Veterans Affairs 3,854 3,824
32 One- to four-family 1,262 1,255
33 Multifamily 2,592 2,569
34 Resolution Trust Corporation 0 0
35 One- to four-family 0 0
36 Multifamily 0 0
37 Nonfarm, nonresidential 0 0
38 Farm 0 0
39 Federal Deposit Insurance
Corporation 46 118
40 One- to four-family 7 19
41 Multifamily 9 23
42 Nonfarm, nonresidential 30 76
43 Farm 0 0
44 Federal National Mortgage
Association 190,648 201,125
45 One- to four-family 171,637 180,500
46 Multifamily 19,011 20,625
47 Federal Land Banks 46,257 46,974
48 One- to four-family 2,722 2,764
49 Farm 43,535 44,210
50 Federal Home Loan Mortgage
Corporation 63,887 64,408
51 One- to four-family 35,851 35,900
52 Multifamily 28,036 28,508
53 Mortgage pools or trusts (5) 4,182,140 4,290,351
54 Government National Mortgage
Association 537,880 515,910
55 One- to four-family 512,090 489,151
56 Multifamily 25,790 26,759
57 Federal Home Loan Mortgage
Corporation 1,082,062 1,073,016
58 One- to four-family 1,072,990 1,064,114
59 Multifamily 9,072 8,902
60 Federal National Mortgage
Association 1,538,287 1,637,474
61 One- to four-family 1,478,610 1,576,495
62 Multifamily 59,677 60,979
63 Farmers Home Administration
(4) 0 0
64 One- to four-family 0 0
65 Multifamily 0 0
66 Nonfarm, nonresidential 0 0
67 Farm 0 0
68 Private mortgage conduits 1,023,911 1,063,951
69 One- to four-family (6) 691,900 726,800
70 Multifamily 63,919 64,384
71 Nonfarm, nonresidential 268,092 272,767
72 Farm 0 0
73 Individuals and others (7) 776,107 783,885
74 One- to four-family 558,434 564,262
75 Multifamily 79,228 79,478
76 Nonfarm, nonresidential 112,826 114,366
77 Farm 25,619 25,779
(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 in 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 loan.
(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 2000 2001 2002
Seasonally adjusted
1 Total 1,559,532 1,666,816 1,726,120 (r)
2 Revolving 667,395 701,285 712,002 (r)
3 Nonrevolving (2) 892,137 965,531 1,014,118 (r)
Not seasonally adjusted
4 Total 1,593,116 1,701,856 1,761,968 (r)
By major holder
5 Commercial banks 541,470 558,421 587,165
6 Finance companies 219,848 236,559 232,269
7 Credit unions 184,434 189,570 195,744
8 Savings institutions 64,557 69,070 68,494
9 Nonfinancial business 82,662 67,955 56,894
10 Pools of securitized
assets (3) 500,145 580,281 621,402 (r)
By major type of credit (4)
11 Revolving 693,020 727,297 737,993 (r)
12 Commercial banks 218,063 224,878 230,990
13 Finance companies 37,627 31,538 38,948
14 Credit unions 22,226 22,265 22,228
15 Savings institutions 16,560 17,767 16,225
16 Nonfinancial business 42,430 29,790 19,221
17 Pools of securitized
assets (3) 356,114 401,059 410,381 (r)
18 Nonrevolving 900,096 974,559 1,023,975 (r)
19 Commercial banks 323,407 333,543 356,175
20 Finance companies 182,221 205,021 193,321
21 Credit unions 162,208 167,305 173,516
22 Savings institutions 47,997 51,303 52,269
23 Nonfinancial business 40,232 38,165 37,673
24 Pools of securitized
assets (3) 144,031 179,222 211,021 (r)
2002 2003
Holder and type of credit Dec. Jan.
Seasonally adjusted
1 Total 1,726,120 (r) 1,741,124 (r)
2 Revolving 712,002 (r) 714,885 (r)
3 Nonrevolving (2) 1,014,118 (r) 1,026,238 (r)
Not seasonally adjusted
4 Total 1,761,968 (r) 1,756,104 (r)
By major holder
5 Commercial banks 587,165 582,065
6 Finance companies 232,269 232,099
7 Credit unions 195,744 195,164
8 Savings institutions 68,494 68,854
9 Nonfinancial business 56,894 52,838
10 Pools of securitized
assets (3) 621,402 (r) 625,086 (r)
By major type of credit (4)
11 Revolving 737,993 (r) 726,331 (r)
12 Commercial banks 230,990 220,535
13 Finance companies 38,948 38,733
14 Credit unions 22,228 21,645
15 Savings institutions 16,225 16,141
16 Nonfinancial business 19,221 16,547
17 Pools of securitized
assets (3) 410,381 (r) 412,731 (r)
18 Nonrevolving 1,023,975 (r) 1,029,773
19 Commercial banks 356,175 361,529
20 Finance companies 193,321 193,366
21 Credit unions 173,516 173,519
22 Savings institutions 52,269 52,713
23 Nonfinancial business 37,673 36,291
24 Pools of securitized
assets (3) 211,021 (r) 212,355
2003
Holder and type of credit Feb. Mar.
Seasonally adjusted
1 Total 1,743,548 (r) 1,744,549 (r)
2 Revolving 718,214 (r) 720,684 (r)
3 Nonrevolving (2) 1,025,334 (r) 1,023,865 (r)
Not seasonally adjusted
4 Total 1,742,542 (r) 1,734,292 (r)
By major holder
5 Commercial banks 581,490 575,259
6 Finance companies 232,291 225,245
7 Credit unions 194,438 193,082
8 Savings institutions 69,178 69,537
9 Nonfinancial business 49,563 48,477
10 Pools of securitized
assets (3) 615,581 (r) 622,692 (r)
By major type of credit (4)
11 Revolving 718,434 (r) 713,554 (r)
12 Commercial banks 218,821 212,418
13 Finance companies 37,348 36,350
14 Credit unions 21,161 20,830
15 Savings institutions 16,064 15,979
16 Nonfinancial business 14,203 13,666
17 Pools of securitized
assets (3) 410,837 (r) 414,311 (r)
18 Nonrevolving 1,024,107 (r) 1,020,738 (r)
19 Commercial banks 362,669 362,841
20 Finance companies 194,944 188,895
21 Credit unions 173,277 172,252
22 Savings institutions 53,114 53,558
23 Nonfinancial business 35,360 34,811
24 Pools of securitized
assets (3) 204,744 (r) 208,381 (r)
2003
Holder and type of credit Apr. (r) May
Seasonally adjusted
1 Total 1,753,339 1,761,484
2 Revolving 722,754 726,807
3 Nonrevolving (2) 1,030,585 1,034,677
Not seasonally adjusted
4 Total 1,741,889 1,749,631
By major holder
5 Commercial banks 576,011 580,580
6 Finance companies 231,934 242,181
7 Credit unions 194,546 195,491
8 Savings institutions 69,911 70,297
9 Nonfinancial business 47,697 48,097
10 Pools of securitized
assets (3) 621,790 612,984
By major type of credit (4)
11 Revolving 718,953 722,371
12 Commercial banks 212,605 216,791
13 Finance companies 38,281 35,899
14 Credit unions 21,038 21,165
15 Savings institutions 16,144 16,313
16 Nonfinancial business 13,112 13,293
17 Pools of securitized
assets (3) 417,773 418,910
18 Nonrevolving 1,022,936 1,027,260
19 Commercial banks 363,406 363,789
20 Finance companies 193,653 206,282
21 Credit unions 173,508 174,326
22 Savings institutions 53,767 53,984
23 Nonfinancial business 34,584 34,804
24 Pools of securitized
assets (3) 204,017 194,075
(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 2000 2001 2002
INTEREST RATES
Commercial banks (2)
1 48-month new car 9.34 8.50 7.54 (r)
2 24-month personal 13.90 13.22 12.25 (r)
Credit card plan
3 All accounts 15.71 14.89 13.42
4 Accounts assessed interest 14.91 14.44 13.09
Auto finance companies
5 New car 6.61 5.65 4.29
6 Used car 13.55 12.18 10.74
OTHER TERMS (3)
Maturity (months)
7 New car 54.9 55.1 56.8
8 Used car 57.0 57.5 57.5
Loan-to-value ratio
9 New car 92 91 94
10 Used car 99 100 100
Amount financed (dollars)
11 New car 20,923 22,822 24,747
12 Used car 14,058 14,416 14,532
2002 2003
Item Nov. Dec. Jan.
INTEREST RATES
Commercial banks (2)
1 48-month new car 7.34 (r) n.a. n.a.
2 24-month personal 12.24 (r) n.a. n.a.
Credit card plan
3 All accounts 13.13 n.a. n.a.
4 Accounts assessed interest 12.78 n.a. n.a.
Auto finance companies
5 New car 3.41 3.50 3.13
6 Used car 10.70 10.48 10.37
OTHER TERMS (3)
Maturity (months)
7 New car 57.2 57.5 58.5
8 Used car 56.9 56.7 57.5
Loan-to-value ratio
9 New car 95 96 96
10 Used car 100 100 100
Amount financed (dollars)
11 New car 26,104 26,647 26,443
12 Used car 14,610 14,639 14,499
2003
Item Feb. Mar. Apr. May
INTEREST RATES
Commercial banks (2)
1 48-month new car 7.11 n.a. n.a. 7.05
2 24-month personal 11.70 (r) n.a. n.a. 12.19
Credit card plan
3 All accounts 13.20 n.a. n.a. 12.90
4 Accounts assessed interest 12.85 n.a. n.a. 12.82
Auto finance companies
5 New car 3.99 3.83 2.51 2.40
6 Used car 10.43 10.16 9.91 9.82
OTHER TERMS (3)
Maturity (months)
7 New car 59.2 59.5 60.1 60.7
8 Used car 57.7 57.8 57.7 57.7
Loan-to-value ratio
9 New car 97 96 97 97
10 Used car 99 99 99 99
Amount financed (dollars)
11 New car 24,864 25,152 27,540 27,920
12 Used car 14,231 14,253 14,475 14,568
(1.) The Board's series on amounts of credit covers most short- and
intermediate-term credit extended to individuals. Data in this table
also appear in the Board's G.19 (421) monthly statistical release. For
ordering address, see inside front cover.
(2.) Data are available for only the second month of each quarter.
(3.) At auto finance companies.
1.57 FUNDS RAISED IN U.S. CREDIT MARKETS (1)
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector 1997 1998
Nonfinancial
sectors
1 Total net borrowing by domestic nonfinancial
sectors 789.9 1,044.6
By sector and instrument
2 Federal government 23.1 -52.6
3 Treasury securities 23.2 -54.6
4 Budget agency securities and mortgages -.1 2.0
5 Nonfederal 766.8 1,097.2
By instrument
6 Commercial paper 13.7 24.4
7 Municipal securities and loans 56.9 84.2
8 Corporate bonds 150.5 235.2
9 Bank loans n.e.c. 106.4 109.8
10 Other loans and advances 59.5 82.1
11 Mortgages 322.3 486.6
12 Home 258.3 384.6
13 Multifamily residential 7.3 23.2
14 Commercial 53.5 72.2
15 Farm 3.1 6.5
16 Consumer credit 57.5 75.0
By borrowing sector
17 Household 332.7 452.6
18 Nonfinancial business 392.5 576.9
19 Corporate 291.6 409.2
20 Nonfarm noncorporate 94.7 159.7
21 Farm 6.2 8.0
22 State and local government 41.5 67.7
23 Foreign net borrowing in United States 71.8 43.2
24 Commercial paper 3.7 7.8
25 Bonds 61.4 34.9
26 Bank loans n.e.c. 8.5 6.6
27 Other loans and advances -1.8 -6.0
28 Total domestic plus foreign 861.7 1,087.8
Financial sectors
29 Total net borrowing by financial sectors 662.2 1,085.6
By instrument
30 Federal government-related 212.9 470.9
31 Government-sponsored enterprise securities 98.4 278.3
32 Mortgage pool securities 114.6 192.6
33 Loans from U.S. government .0 .0
34 Private 449.3 614.7
35 Open market paper 166.7 161.0
36 Corporate bonds 218.9 310.2
37 Bank loans n.e.c. 13.3 28.5
38 Other loans and advances 35.6 90.2
39 Mortgages 14.9 24.8
By borrowing sector
40 Commercial banking 46.1 72.9
41 Savings institutions 19.7 52.2
42 Credit unions .1 .6
43 Life insurance companies .2 .7
44 Government-sponsored enterprises 98.4 278.3
45 Federally related mortgage pools 114.6 192.6
46 Issuers of asset-backed securities (ABSs) 202.2 321.4
47 Finance companies 57.8 57.1
48 Mortgage companies -4.6 .0
49 Real estate investment trusts (REITs) 39.6 62.7
50 Brokers and dealers 8.1 7.2
51 Funding corporations 79.9 40.0
All sectors
52 Total net borrowing, all sectors 1,523.9 2,173.4
53 Open market paper 184.1 193.1
54 U.S. government securities 236.0 418.3
55 Municipal securities 56.9 84.2
56 Corporate and foreign bonds 430.8 580.2
57 Bank loans n.e.c. 128.2 145.0
58 Other loans and advances 93.2 166.3
59 Mortgages 337.2 511.4
60 Consumer credit 57.5 75.0
Funds raised
through mutual
funds and
corporate equities
61 Total net issues 218.7 166.0
62 Corporate equities -46.5 -113.5
63 Nonfinancial corporations -77.4 -215.5
64 Foreign shares purchased by U.S. residents 57.6 101.3
65 Financial corporations -26.7 .8
66 Mutual fund shares 265.1 279.5
Transaction category or sector 1999 2000
Nonfinancial
sectors
1 Total net borrowing by domestic nonfinancial
sectors 1,031.4 848.4
By sector and instrument
2 Federal government -71.2 -295.9
3 Treasury securities 71.0 -294.9
4 Budget agency securities and mortgages -.2 -1.0
5 Nonfederal 1,102.6 1,144.3
By instrument
6 Commercial paper 37.4 48.1
7 Municipal securities and loans 54.4 23.6
8 Corporate bonds 217.8 161.3
9 Bank loans n.e.c. 82.9 101.8
10 Other loans and advances 46.0 95.0
11 Mortgages 564.6 567.5
12 Home 424.4 418.2
13 Multifamily residential 35.7 33.9
14 Commercial 98.8 108.9
15 Farm 5.8 6.5
16 Consumer credit 99.5 147.0
By borrowing sector
17 Household 497.9 553.9
18 Nonfinancial business 566.2 574.9
19 Corporate 378.4 380.0
20 Nonfarm noncorporate 182.4 184.1
21 Farm 5.5 10.9
22 State and local government 38.5 15.5
23 Foreign net borrowing in United States 25.2 65.7
24 Commercial paper 16.3 31.7
25 Bonds 14.1 23.9
26 Bank loans n.e.c. .5 11.4
27 Other loans and advances -5.7 -1.3
28 Total domestic plus foreign 1,056.6 914.1
Financial sectors
29 Total net borrowing by financial sectors 1,073.1 808.9
By instrument
30 Federal government-related 592.0 433.5
31 Government-sponsored enterprise securities 318.2 234.1
32 Mortgage pool securities 273.8 199.4
33 Loans from U.S. government .0 .0
34 Private 481.2 375.4
35 Open market paper 176.2 127.7
36 Corporate bonds 207.1 199.3
37 Bank loans n.e.c. -14.4 -.4
38 Other loans and advances 107.1 42.5
39 Mortgages 5.1 6.2
By borrowing sector
40 Commercial banking 67.2 60.0
41 Savings institutions 48.0 27.3
42 Credit unions 2.2 .0
43 Life insurance companies .7 -.7
44 Government-sponsored enterprises 318.2 234.1
45 Federally related mortgage pools 273.8 199.4
46 Issuers of asset-backed securities (ABSs) 212.3 189.7
47 Finance companies 70.3 81.2
48 Mortgage companies .0 .0
49 Real estate investment trusts (REITs) 6.3 2.7
50 Brokers and dealers -17.2 15.6
51 Funding corporations 91.5 -.4
All sectors
52 Total net borrowing, all sectors 2,129.7 1,722.9
53 Open market paper 229.9 207.6
54 U.S. government securities 520.7 137.6
55 Municipal securities 54.4 23.6
56 Corporate and foreign bonds 439.1 384.4
57 Bank loans n.e.c. 69.0 112.8
58 Other loans and advances 147.4 136.2
59 Mortgages 569.7 573.7
60 Consumer credit 99.5 147.0
Funds raised
through mutual
funds and
corporate equities
61 Total net issues 191.5 235.3
62 Corporate equities .2 .3
63 Nonfinancial corporations -110.4 -118.2
64 Foreign shares purchased by U.S. residents 114.3 103.6
65 Financial corporations -3.7 14.9
66 Mutual fund shares 191.2 235.0
2001
Transaction category or sector 2001 Q3
Nonfinancial
sectors
1 Total net borrowing by domestic nonfinancial
sectors 1,134.6 1,298.4
By sector and instrument
2 Federal government -5.6 209.3
3 Treasury securities -5.0 209.7
4 Budget agency securities and mortgages -.5 -.4
5 Nonfederal 1,140.2 1,089.0
By instrument
6 Commercial paper -88.3 -66.1
7 Municipal securities and loans 122.8 83.1
8 Corporate bonds 340.5 191.4
9 Bank loans n.e.c. -82.0 -23.5
10 Other loans and advances 29.3 59.4
11 Mortgages 709.2 774.0
12 Home 532.7 561.5
13 Multifamily residential 47.9 56.4
14 Commercial 121.1 149.1
15 Farm 7.5 7.0
16 Consumer credit 108.7 70.6
By borrowing sector
17 Household 613.7 663.7
18 Nonfinancial business 420.8 355.6
19 Corporate 256.5 197.3
20 Nonfarm noncorporate 156.8 153.8
21 Farm 7.5 4.4
22 State and local government 105.7 69.7
23 Foreign net borrowing in United States -37.4 -106.7
24 Commercial paper -14.2 -25.2
25 Bonds -12.1 -83.9
26 Bank loans n.e.c. -7.3 4.2
27 Other loans and advances -3.7 -1.8
28 Total domestic plus foreign 1,097.2 1,191.7
Financial sectors
29 Total net borrowing by financial sectors 958.3 1,112.7
By instrument
30 Federal government-related 629.3 818.4
31 Government-sponsored enterprise securities 290.8 326.2
32 Mortgage pool securities 338.5 492.2
33 Loans from U.S. government .0 .0
34 Private 329.0 294.3
35 Open market paper -61.9 -72.2
36 Corporate bonds 341.5 308.9
37 Bank loans n.e.c. 13.1 .7
38 Other loans and advances 34.9 58.8
39 Mortgages 1.3 -1.9
By borrowing sector
40 Commercial banking 52.9 39.7
41 Savings institutions 7.4 39.4
42 Credit unions 1.5 1.5
43 Life insurance companies .6 3.5
44 Government-sponsored enterprises 290.8 326.2
45 Federally related mortgage pools 338.5 492.2
46 Issuers of asset-backed securities (ABSs) 318.0 314.0
47 Finance companies -.2 41.8
48 Mortgage companies .0 .0
49 Real estate investment trusts (REITs) 2.5 -2.4
50 Brokers and dealers 1.4 12.6
51 Funding corporations -55.2 -155.7
All sectors
52 Total net borrowing, all sectors 2,055.5 2,304.5
53 Open market paper -164.4 -163.5
54 U.S. government securities 623.8 1,027.8
55 Municipal securities 122.8 83.1
56 Corporate and foreign bonds 669.9 416.4
57 Bank loans n.e.c. -76.2 -18.5
58 Other loans and advances 60.4 116.5
59 Mortgages 710.5 772.1
60 Consumer credit 108.7 70.6
Funds raised
through mutual
funds and
corporate equities
61 Total net issues 302.7 146.0
62 Corporate equities 101.3 -14.4
63 Nonfinancial corporations -47.4 -108.6
64 Foreign shares purchased by U.S. residents 106.8 43.5
65 Financial corporations 41.9 50.7
66 Mutual fund shares 201.4 160.4
2001 2002
Transaction category or sector Q4 Q1
Nonfinancial
sectors
1 Total net borrowing by domestic nonfinancial
sectors 1,187.6 973.1
By sector and instrument
2 Federal government 43.4 39.8
3 Treasury securities 44.2 41.6
4 Budget agency securities and mortgages -.7 -1.8
5 Nonfederal 1,144.1 933.3
By instrument
6 Commercial paper 45.5 -144.4
7 Municipal securities and loans 174.6 76.6
8 Corporate bonds 325.0 253.6
9 Bank loans n.e.c. -165.5 -16.4
10 Other loans and advances -107.3 -19.2
11 Mortgages 737.3 700.0
12 Home 533.1 602.4
13 Multifamily residential 56.4 29.1
14 Commercial 141.0 61.6
15 Farm 6.8 6.9
16 Consumer credit 134.5 83.0
By borrowing sector
17 Household 608.9 706.9
18 Nonfinancial business 393.1 157.8
19 Corporate 243.7 42.2
20 Nonfarm noncorporate 141.1 110.3
21 Farm 8.3 5.3
22 State and local government 142.1 68.7
23 Foreign net borrowing in United States 16.0 78.8
24 Commercial paper 5.9 66.8
25 Bonds 29.7 -2.3
26 Bank loans n.e.c. -16.3 13.9
27 Other loans and advances -3.3 .3
28 Total domestic plus foreign 1,203.5 1,051.9
Financial sectors
29 Total net borrowing by financial sectors 975.9 869.1
By instrument
30 Federal government-related 591.8 691.1
31 Government-sponsored enterprise securities 306.5 191.3
32 Mortgage pool securities 285.3 499.8
33 Loans from U.S. government .0 .0
34 Private 384.1 178.0
35 Open market paper -13.6 -178.3
36 Corporate bonds 372.7 354.2
37 Bank loans n.e.c. 17.7 -.6
38 Other loans and advances 8.9 -3.9
39 Mortgages -1.6 6.6
By borrowing sector
40 Commercial banking 44.1 24.3
41 Savings institutions -68.6 -33.1
42 Credit unions 4.4 2.4
43 Life insurance companies 1.4 2.4
44 Government-sponsored enterprises 306.5 191.3
45 Federally related mortgage pools 285.3 499.8
46 Issuers of asset-backed securities (ABSs) 430.1 263.7
47 Finance companies -25.3 -31.2
48 Mortgage companies .0 .0
49 Real estate investment trusts (REITs) 7.8 7.4
50 Brokers and dealers -18.9 -15.7
51 Funding corporations 9.1 -42.2
All sectors
52 Total net borrowing, all sectors 2,179.4 1,921.0
53 Open market paper 37.8 -255.9
54 U.S. government securities 635.2 730.9
55 Municipal securities 174.6 76.6
56 Corporate and foreign bonds 727.4 605.5
57 Bank loans n.e.c. -164.0 -3.0
58 Other loans and advances -101.8 -22.7
59 Mortgages 735.7 706.5
60 Consumer credit 134.5 83.0
Funds raised
through mutual
funds and
corporate equities
61 Total net issues 397.2 439.3
62 Corporate equities 141.3 52.4
63 Nonfinancial corporations -4.2 -9.8
64 Foreign shares purchased by U.S. residents 74.7 -5.9
65 Financial corporations 70.9 68.1
66 Mutual fund shares 255.9 386.9
2002
Transaction category or sector Q2 Q3
Nonfinancial
sectors
1 Total net borrowing by domestic nonfinancial
sectors 1,643.2 1,312.5
By sector and instrument
2 Federal government 526.0 265.7
3 Treasury securities 524.2 264.2
4 Budget agency securities and mortgages 1.8 1.6
5 Nonfederal 1,117.2 1,046.8
By instrument
6 Commercial paper -81.7 -17.4
7 Municipal securities and loans 196.2 156.8
8 Corporate bonds 191.4 -29.0
9 Bank loans n.e.c. -192.1 -124.5
10 Other loans and advances 77.2 77.6
11 Mortgages 834.9 914.3
12 Home 658.6 780.4
13 Multifamily residential 44.2 29.0
14 Commercial 123.0 91.8
15 Farm 9.1 13.2
16 Consumer credit 91.3 69.1
By borrowing sector
17 Household 695.9 768.5
18 Nonfinancial business 237.8 134.4
19 Corporate 96.6 -8.7
20 Nonfarm noncorporate 132.7 128.8
21 Farm 8.5 14.3
22 State and local government 183.5 143.9
23 Foreign net borrowing in United States 13.4 -31.9
24 Commercial paper 36.5 3.9
25 Bonds -41.0 -23.1
26 Bank loans n.e.c. 22.0 -11.7
27 Other loans and advances -4.1 -1.0
28 Total domestic plus foreign 1,656.5 1,280.7
Financial sectors
29 Total net borrowing by financial sectors 875.5 856.7
By instrument
30 Federal government-related 487.8 420.8
31 Government-sponsored enterprise securities 141.7 249.1
32 Mortgage pool securities 346.1 171.6
33 Loans from U.S. government .0 .0
34 Private 387.7 435.9
35 Open market paper -109.1 84.3
36 Corporate bonds 442.1 192.6
37 Bank loans n.e.c. 31.2 81.9
38 Other loans and advances 16.7 71.9
39 Mortgages 7.0 5.3
By borrowing sector
40 Commercial banking 13.3 62.2
41 Savings institutions -12.1 37.1
42 Credit unions 2.0 3.1
43 Life insurance companies 1.2 2.0
44 Government-sponsored enterprises 141.7 249.1
45 Federally related mortgage pools 346.1 171.6
46 Issuers of asset-backed securities (ABSs) 241.7 198.5
47 Finance companies 80.2 106.4
48 Mortgage companies .0 .0
49 Real estate investment trusts (REITs) 25.3 27.7
50 Brokers and dealers 17.5 15.2
51 Funding corporations 18.5 -16.4
All sectors
52 Total net borrowing, all sectors 2,532.0 2,137.3
53 Open market paper -154.3 70.8
54 U.S. government securities 1,013.8 686.5
55 Municipal securities 196.2 156.8
56 Corporate and foreign bonds 592.4 140.5
57 Bank loans n.e.c. -139.0 -54.4
58 Other loans and advances 89.7 148.5
59 Mortgages 841.9 919.5
60 Consumer credit 91.3 69.1
Funds raised
through mutual
funds and
corporate equities
61 Total net issues 279.3 -82.5
62 Corporate equities 179.3 -119.6
63 Nonfinancial corporations 16.1 -140.3
64 Foreign shares purchased by U.S. residents 79.7 -51.1
65 Financial corporations 83.6 71.8
66 Mutual fund shares 100.0 37.1
2002 2003
Transaction category or sector Q4 Q1
Nonfinancial
sectors
1 Total net borrowing by domestic nonfinancial
sectors 1,612.8 1,338.8
By sector and instrument
2 Federal government 198.5 79.9
3 Treasury securities 198.1 81.5
4 Budget agency securities and mortgages .4 -1.6
5 Nonfederal 1,414.3 1,258.9
By instrument
6 Commercial paper -13.2 -15.2
7 Municipal securities and loans 238.2 162.2
8 Corporate bonds 114.4 178.6
9 Bank loans n.e.c. 3.3 -54.9
10 Other loans and advances 6.4 -6.6
11 Mortgages 1,068.1 919.1
12 Home 846.2 783.4
13 Multifamily residential 70.1 37.2
14 Commercial 142.9 95.3
15 Farm 8.8 3.1
16 Consumer credit -2.9 75.7
By borrowing sector
17 Household 900.8 849.2
18 Nonfinancial business 303.7 263.4
19 Corporate 139.8 148.7
20 Nonfarm noncorporate 156.3 113.3
21 Farm 7.6 1.3
22 State and local government 209.8 146.3
23 Foreign net borrowing in United States 12.6 21.3
24 Commercial paper 37.3 52.6
25 Bonds -16.9 -25.6
26 Bank loans n.e.c. -2.9 -4.0
27 Other loans and advances -4.9 -1.8
28 Total domestic plus foreign 1,625.4 1,360.1
Financial sectors
29 Total net borrowing by financial sectors 1,093.8 1,002.7
By instrument
30 Federal government-related 616.3 452.4
31 Government-sponsored enterprise securities 321.5 179.7
32 Mortgage pool securities 294.9 272.7
33 Loans from U.S. government .0 .0
34 Private 477.4 550.2
35 Open market paper -77.3 -53.5
36 Corporate bonds 675.6 589.2
37 Bank loans n.e.c. -107.9 -42.7
38 Other loans and advances -17.5 60.7
39 Mortgages 4.7 -3.5
By borrowing sector
40 Commercial banking 100.2 76.1
41 Savings institutions -46.7 3.4
42 Credit unions .4 2.8
43 Life insurance companies 2.5 4.4
44 Government-sponsored enterprises 321.5 179.7
45 Federally related mortgage pools 294.9 272.7
46 Issuers of asset-backed securities (ABSs) 393.5 326.9
47 Finance companies -4.9 32.5
48 Mortgage companies .0 .0
49 Real estate investment trusts (REITs) 18.6 17.5
50 Brokers and dealers -24.0 38.4
51 Funding corporations 37.8 48.1
All sectors
52 Total net borrowing, all sectors 2,719.1 2,362.7
53 Open market paper -53.3 -16.1
54 U.S. government securities 814.8 532.3
55 Municipal securities 238.2 162.2
56 Corporate and foreign bonds 773.0 742.2
57 Bank loans n.e.c. -107.5 -101.6
58 Other loans and advances -16.0 52.4
59 Mortgages 1,072.8 915.6
60 Consumer credit -2.9 75.7
Funds raised
through mutual
funds and
corporate equities
61 Total net issues 294.1 250.5
62 Corporate equities 87.2 47.5
63 Nonfinancial corporations -27.9 -62.0
64 Foreign shares purchased by U.S. residents 51.7 79.9
65 Financial corporations 63.4 29.6
66 Mutual fund shares 206.9 203.0
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.2 through F4. For ordering address, see
inside front cover.
1.58 SUMMARY OF FINANCIAL TRANSACTIONS (1)
Billions of dollars except as noted; quarterly data at seasonally
adjusted annual rates
Transaction category or sector 1997 1998
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 1,523.9 2,173.4
2 Domestic nonfederal nonfinancial sectors 15.3 259.1
3 Household 25.3 127.3
4 Nonfinancial corporate business -12.7 -16.0
5 Nonfarm noncorporate business 2.6 13.3
6 State and local governments .1 134.5
7 Federal government 5.1 13.5
8 Rest of the world 259.6 172.5
9 Financal sector 1,243.9 1,728.4
10 Monetary authority 38.3 21.1
11 Commercial banking 324.3 305.6
12 U.S.-chartered banks 274.9 312.1
13 Foreign banking others in United States 40.2 -11.6
14 Bank holding companies 5.4 -.9
15 Banks in U.S.-affiliated areas 3.7 6.0
16 Savings institutions -4.7 36.2
17 Credit unions 16.8 18.9
18 Bank personal trusts and estates -25.0 -12.8
19 Life insurance companies 104.8 76.9
20 Other insurance companies 25.2 5.8
21 Private pension funds 47.6 -23.4
22 State and local government retirement funds 67.1 72.1
23 Money market mutual funds 87.5 244.0
24 Mutual funds 80.9 127.3
25 Closed-end funds -2.9 5.2
26 Government-sponsored enterprises 106.3 314.0
27 Federally related mortgage pools 114.6 192.6
28 Asset-backed securities issuers (ABSs) 163.8 281.7
29 Finance companies 23.1 77.3
30 Mortgage companies -9.1 .0
31 Real estate investment trusts (REITs) 20.2 -5.1
32 Brokers and dealers 14.9 6.8
33 Funding corporations 50.4 -15.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 1,523.9 2,173.4
Other financial sources
35 Official foreign exchange .7 6.6
36 Special drawing rights certificates -.5 .0
37 Treasury currency .5 .6
38 Foreign deposits 107.7 6.5
39 Net interbank transactions -19.7 -31.8
40 Checkable deposits and currency 41.2 47.3
41 Small time and savings deposits 97.1 152.4
42 Large time deposits 122.5 91.8
43 Money market fund shares 155.9 287.2
44 Security repurchase agreements 120.9 91.3
45 Corporate equities -46.5 -113.5
46 Mutual fund shares 265.1 279.5
47 Trade payables 139.8 106.4
48 Security credit 111.0 103.2
49 Life insurance reserves 59.3 48.0
50 Pension fund reserves 201.4 217.4
51 Taxes payable 22.3 19.6
52 Investment in bank personal trusts -53.0 -46.1
53 Noncorporate proprietors' equity -40.7 -57.8
54 Miscellaneous 456.7 909.8
55 Total financial sources 3,265.8 4,291.7
Liabilities not identified as assets (-)
56 Treasury currency -.2 -.1
57 Foreign deposits 106.2 -8.5
58 Net interbank liabilities -19.9 3.8
59 Security repurchase agreements 63.2 57.7
60 Taxes payable 28.0 19.7
61 Miscellaneous -285.4 -206.1
Floats not included in assets (-)
62 Federal government checkable deposits -2.7 2.6
63 Other checkable deposits -3.9 -3.1
64 Trade credit -25.5 -43.3
65 Total identified to sectors as assets 3,405.9 4,469.0
Transaction category or sector 1999 2000
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,129.7 1,722.9
2 Domestic nonfederal nonfinancial sectors 227.0 -102.3
3 Household 217.1 -134.2
4 Nonfinancial corporate business -15.6 31.4
5 Nonfarm noncorporate business -2.9 1.3
6 State and local governments 28.4 -.8
7 Federal government 5.8 7.3
8 Rest of the world 139.7 225.9
9 Financal sector 1,757.2 1,592.0
10 Monetary authority 25.7 33.7
11 Commercial banking 312.2 357.9
12 U.S.-chartered banks 318.6 339.5
13 Foreign banking others in United States -17.0 23.9
14 Bank holding companies 6.2 -12.2
15 Banks in U.S.-affiliated areas 4.4 6.7
16 Savings institutions 67.7 56.2
17 Credit unions 27.5 28.0
18 Bank personal trusts and estates 27.8 .8
19 Life insurance companies 53.5 57.9
20 Other insurance companies -3.0 -8.7
21 Private pension funds 17.0 33.4
22 State and local government retirement funds 46.9 54.6
23 Money market mutual funds 182.0 143.0
24 Mutual funds 48.4 21.0
25 Closed-end funds 8.5 -6.3
26 Government-sponsored enterprises 291.3 256.4
27 Federally related mortgage pools 273.8 199.4
28 Asset-backed securities issuers (ABSs) 194.1 159.9
29 Finance companies 97.0 108.1
30 Mortgage companies .0 .0
31 Real estate investment trusts (REITs) -2.6 -7.1
32 Brokers and dealers -34.7 68.9
33 Funding corporations 124.0 35.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,129.7 1,722.9
Other financial sources
35 Official foreign exchange -8.7 -.4
36 Special drawing rights certificates -3.0 -4.0
37 Treasury currency 1.0 2.4
38 Foreign deposits 61.0 135.1
39 Net interbank transactions 15.0 15.1
40 Checkable deposits and currency 151.2 -71.4
41 Small time and savings deposits 45.1 188.8
42 Large time deposits 131.1 116.2
43 Money market fund shares 249.1 233.3
44 Security repurchase agreements 169.8 113.2
45 Corporate equities .2 .3
46 Mutual fund shares 191.2 235.0
47 Trade payables 268.6 419.4
48 Security credit 104.4 146.1
49 Life insurance reserves 50.8 50.2
50 Pension fund reserves 181.8 209.0
51 Taxes payable 30.7 32.8
52 Investment in bank personal trusts -8.1 56.6
53 Noncorporate proprietors' equity -62.4 -11.5
54 Miscellaneous 1,043.4 1,386.3
55 Total financial sources 4,742.1 4,975.4
Liabilities not identified as assets (-)
56 Treasury currency -.7 -1.2
57 Foreign deposits 42.6 79.3
58 Net interbank liabilities .1 20.4
59 Security repurchase agreements 35.7 122.6
60 Taxes payable 11.7 26.2
61 Miscellaneous -279.6 -391.4
Floats not included in assets (-)
62 Federal government checkable deposits -7.4 9.0
63 Other checkable deposits -.8 1.7
64 Trade credit 6.8 34.3
65 Total identified to sectors as assets 4,933.7 5,074.6
2001
Transaction category or sector 2001 Q3
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,055.5 2,304.5
2 Domestic nonfederal nonfinancial sectors -26.8 67.8
3 Household -54.6 12.3
4 Nonfinancial corporate business -12.4 -5.7
5 Nonfarm noncorporate business 2.0 3.3
6 State and local governments 38.1 57.9
7 Federal government 60.0 3.3
8 Rest of the world 320.6 269.2
9 Financal sector 1,755.7 1,964.2
10 Monetary authority 39.9 8.4
11 Commercial banking 205.2 267.9
12 U.S.-chartered banks 191.6 242.5
13 Foreign banking others in United States -.6 21.1
14 Bank holding companies 4.2 -1.4
15 Banks in U.S.-affiliated areas 10.0 5.7
16 Savings institutions 42.8 -4.7
17 Credit unions 41.5 61.1
18 Bank personal trusts and estates -28.1 -28.0
19 Life insurance companies 130.9 186.9
20 Other insurance companies 9.0 5.1
21 Private pension funds 16.3 29.6
22 State and local government retirement funds -17.7 -74.2
23 Money market mutual funds 246.0 311.8
24 Mutual funds 126.0 102.7
25 Closed-end funds 6.9 19.8
26 Government-sponsored enterprises 309.0 274.3
27 Federally related mortgage pools 338.5 492.2
28 Asset-backed securities issuers (ABSs) 291.9 288.4
29 Finance companies -5.7 -43.3
30 Mortgage companies .0 .0
31 Real estate investment trusts (REITs) 6.7 7.8
32 Brokers and dealers 92.4 184.5
33 Funding corporations -95.8 -126.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,055.5 2,304.5
Other financial sources
35 Official foreign exchange 4.3 13.7
36 Special drawing rights certificates .0 .0
37 Treasury currency 1.3 2.2
38 Foreign deposits 28.0 41.5
39 Net interbank transactions -28.0 30.6
40 Checkable deposits and currency 204.3 215.0
41 Small time and savings deposits 267.2 230.3
42 Large time deposits 68.6 19.5
43 Money market fund shares 428.6 386.1
44 Security repurchase agreements 22.3 212.7
45 Corporate equities 101.3 -14.4
46 Mutual fund shares 201.4 160.4
47 Trade payables -73.0 -137.9
48 Security credit 3.1 561.3
49 Life insurance reserves 77.2 74.7
50 Pension fund reserves 210.8 176.4
51 Taxes payable 17.4 104.9
52 Investment in bank personal trusts -59.9 -57.3
53 Noncorporate proprietors' equity -18.6 -34.3
54 Miscellaneous 613.1 705.6
55 Total financial sources 4,124.9 4,995.5
Liabilities not identified as assets (-)
56 Treasury currency -.1 .9
57 Foreign deposits 8.3 55.3
58 Net interbank liabilities 17.2 7.4
59 Security repurchase agreements -53.9 106.3
60 Taxes payable 22.0 25.4
61 Miscellaneous -251.1 159.3
Floats not included in assets (-)
62 Federal government checkable deposits 5.7 -20.1
63 Other checkable deposits 4.5 5.0
64 Trade credit -6.5 -23.1
65 Total identified to sectors as assets 4,378.8 4,679.2
2001 2002
Transaction category or sector Q4 Q1
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,179.4 1,921.0
2 Domestic nonfederal nonfinancial sectors 79.1 146.8
3 Household 47.2 104.4
4 Nonfinancial corporate business -12.5 40.2
5 Nonfarm noncorporate business 2.0 3.3
6 State and local governments 42.4 -1.1
7 Federal government 7.0 6.2
8 Rest of the world 432.5 171.8
9 Financal sector 1,660.8 1,596.2
10 Monetary authority 85.1 81.6
11 Commercial banking 314.6 188.9
12 U.S.-chartered banks 275.0 168.2
13 Foreign banking others in United States -7.8 2.1
14 Bank holding companies 13.6 12.0
15 Banks in U.S.-affiliated areas 33.9 6.6
16 Savings institutions 73.1 12.3
17 Credit unions 60.5 58.3
18 Bank personal trusts and estates -28.1 1.0
19 Life insurance companies 81.3 260.6
20 Other insurance companies 28.5 36.7
21 Private pension funds -10.5 52.9
22 State and local government retirement funds -2.7 70.5
23 Money market mutual funds 49.1 -239.1
24 Mutual funds 139.3 243.3
25 Closed-end funds 16.3 24.4
26 Government-sponsored enterprises 335.3 236.7
27 Federally related mortgage pools 285.3 499.8
28 Asset-backed securities issuers (ABSs) 407.3 239.5
29 Finance companies -100.5 -28.2
30 Mortgage companies .0 .0
31 Real estate investment trusts (REITs) 14.0 26.3
32 Brokers and dealers -110.5 -219.5
33 Funding corporations 23.4 50.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,179.4 1,921.0
Other financial sources
35 Official foreign exchange .2 -3.0
36 Special drawing rights certificates .0 .0
37 Treasury currency .0 .9
38 Foreign deposits 17.9 -59.1
39 Net interbank transactions 24.5 3.3
40 Checkable deposits and currency 278.1 -200.5
41 Small time and savings deposits 329.7 288.3
42 Large time deposits 77.8 270.0
43 Money market fund shares 379.8 -312.5
44 Security repurchase agreements -138.3 119.4
45 Corporate equities 141.3 52.4
46 Mutual fund shares 255.9 386.9
47 Trade payables -126.7 190.9
48 Security credit -353.7 -190.7
49 Life insurance reserves 119.6 93.9
50 Pension fund reserves 158.0 137.0
51 Taxes payable -55.2 6.0
52 Investment in bank personal trusts -57.7 -3.7
53 Noncorporate proprietors' equity 8.4 1.5
54 Miscellaneous 86.5 76.2
55 Total financial sources 3,295.5 2,778.2
Liabilities not identified as assets (-)
56 Treasury currency .0 -1.5
57 Foreign deposits -38.5 -68.4
58 Net interbank liabilities 22.6 39.8
59 Security repurchase agreements -166.2 156.9
60 Taxes payable 34.6 16.7
61 Miscellaneous -341.4 -277.5
Floats not included in assets (-)
62 Federal government checkable deposits -91.8 15.1
63 Other checkable deposits 5.7 6.1
64 Trade credit 78.2 -52.7
65 Total identified to sectors as assets 3,792.3 2,943.6
2002
Transaction category or sector Q2 Q3
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,532.0 2,137.3
2 Domestic nonfederal nonfinancial sectors 310.7 -197.5
3 Household 282.9 -241.0
4 Nonfinancial corporate business -18.0 27.9
5 Nonfarm noncorporate business 3.3 -2.2
6 State and local governments 42.5 17.8
7 Federal government 7.1 7.6
8 Rest of the world 542.6 463.5
9 Financal sector 1,671.6 1,863.7
10 Monetary authority 43.4 67.3
11 Commercial banking 384.3 624.0
12 U.S.-chartered banks 343.8 599.9
13 Foreign banking others in United States 33.7 21.8
14 Bank holding companies 1.9 -1.6
15 Banks in U.S.-affiliated areas 4.9 4.0
16 Savings institutions -23.5 80.3
17 Credit unions 23.2 44.8
18 Bank personal trusts and estates .9 .8
19 Life insurance companies 175.1 267.6
20 Other insurance companies 35.4 21.7
21 Private pension funds 29.2 58.4
22 State and local government retirement funds -54.5 -10.4
23 Money market mutual funds -88.8 -74.4
24 Mutual funds 41.9 162.7
25 Closed-end funds -2.6 -1.7
26 Government-sponsored enterprises 129.0 204.4
27 Federally related mortgage pools 346.1 171.6
28 Asset-backed securities issuers (ABSs) 219.5 175.9
29 Finance companies 39.6 80.0
30 Mortgage companies .0 .0
31 Real estate investment trusts (REITs) 31.8 27.7
32 Brokers and dealers 402.8 -208.6
33 Funding corporations -61.1 156.6
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,532.0 2,137.3
Other financial sources
35 Official foreign exchange 12.9 24.6
36 Special drawing rights certificates .0 .0
37 Treasury currency .6 2.4
38 Foreign deposits 53.3 51.8
39 Net interbank transactions -163.0 58.9
40 Checkable deposits and currency 210.2 208.0
41 Small time and savings deposits 215.6 323.4
42 Large time deposits 34.8 36.8
43 Money market fund shares 100.3 -192.6
44 Security repurchase agreements 362.4 -91.1
45 Corporate equities 179.3 -119.6
46 Mutual fund shares 100.0 37.1
47 Trade payables 45.0 122.3
48 Security credit -131.9 -69.6
49 Life insurance reserves 92.2 119.7
50 Pension fund reserves 151.0 282.5
51 Taxes payable 42.8 53.6
52 Investment in bank personal trusts -2.4 -2.1
53 Noncorporate proprietors' equity -32.9 -83.9
54 Miscellaneous 640.6 693.4
55 Total financial sources 4,442.8 3,592.9
Liabilities not identified as assets (-)
56 Treasury currency -.9 1.1
57 Foreign deposits 105.6 24.1
58 Net interbank liabilities -9.5 13.2
59 Security repurchase agreements 220.6 -280.9
60 Taxes payable -49.9 21.3
61 Miscellaneous 98.7 93.8
Floats not included in assets (-)
62 Federal government checkable deposits 77.1 -40.3
63 Other checkable deposits 7.1 7.6
64 Trade credit -57.3 -20.4
65 Total identified to sectors as assets 4,051.5 3,773.3
2002 2003
Transaction category or sector Q4 Q1
NET LENDING IN CREDIT MARKETS (2)
1 Total net lending in credit markets 2,719.1 2,362.7
2 Domestic nonfederal nonfinancial sectors 198.9 -79.5
3 Household 217.6 -81.2
4 Nonfinancial corporate business -61.5 49.1
5 Nonfarm noncorporate business -1.0 -5.2
6 State and local governments 43.8 -42.1
7 Federal government 14.2 -.6
8 Rest of the world 394.8 462.7
9 Financal sector 2,111.2 1,980.2
10 Monetary authority 118.7 32.3
11 Commercial banking 441.6 349.5
12 U.S.-chartered banks 463.3 305.6
13 Foreign banking others in United States -32.8 23.3
14 Bank holding companies .2 20.8
15 Banks in U.S.-affiliated areas 10.9 -.2
16 Savings institutions 72.5 193.6
17 Credit unions 44.4 43.5
18 Bank personal trusts and estates .8 -19.3
19 Life insurance companies 143.4 162.2
20 Other insurance companies 49.0 41.7
21 Private pension funds 9.3 22.0
22 State and local government retirement funds 60.7 2.0
23 Money market mutual funds 301.2 -187.0
24 Mutual funds 118.4 233.1
25 Closed-end funds 17.0 7.7
26 Government-sponsored enterprises 256.6 257.4
27 Federally related mortgage pools 294.9 272.7
28 Asset-backed securities issuers (ABSs) 371.7 303.1
29 Finance companies -22.4 -12.4
30 Mortgage companies .0 .0
31 Real estate investment trusts (REITs) 6.7 -8.6
32 Brokers and dealers 138.8 12.6
33 Funding corporations -312.0 275.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Net flows through credit markets 2,719.1 2,362.7
Other financial sources
35 Official foreign exchange 4.9 4.9
36 Special drawing rights certificates .0 .0
37 Treasury currency .0 .6
38 Foreign deposits 55.7 79.2
39 Net interbank transactions 170.0 187.5
40 Checkable deposits and currency -33.4 272.9
41 Small time and savings deposits 271.9 260.5
42 Large time deposits -125.5 191.4
43 Money market fund shares 337.6 -441.4
44 Security repurchase agreements 29.2 -41.7
45 Corporate equities 87.2 47.5
46 Mutual fund shares 206.9 203.0
47 Trade payables 135.8 91.9
48 Security credit 44.1 181.5
49 Life insurance reserves 74.3 85.1
50 Pension fund reserves 203.2 229.9
51 Taxes payable 15.1 30.8
52 Investment in bank personal trusts -1.3 -65.6
53 Noncorporate proprietors' equity -46.8 -21.9
54 Miscellaneous 33.8 556.1
55 Total financial sources 4,182.0 4,215.0
Liabilities not identified as assets (-)
56 Treasury currency -1.1 -.1
57 Foreign deposits 31.4 117.1
58 Net interbank liabilities -15.1 6.2
59 Security repurchase agreements -66.9 -106.8
60 Taxes payable -47.7 -41.9
61 Miscellaneous 30.4 -476.6
Floats not included in assets (-)
62 Federal government checkable deposits -51.7 153.1
63 Other checkable deposits 8.4 9.0
64 Trade credit -19.1 -37.4
65 Total identified to sectors as assets 4,313.3 4,592.4
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables F.1 and F.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
1.59 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING (1)
Billions of dollars, end of period
Transaction category or sector 1998 1999
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 16,238.9 17,305.0
By sector and instrument
2 Federal government 3,752.2 3,681.0
3 Treasury securities 3,723.7 3,652.7
4 Budget agency securities and mortgages 28.5 28.3
5 Nonfederal 12,486.7 13,624.0
By instrument
6 Commercial paper 193.0 230.3
7 Municipal securities and loans 1,402.9 1,457.2
8 Corporate bonds 1,846.0 2,063.9
9 Bank loans n.e.c. 1,150.2 1,233.2
10 Other loans and advances 907.2 953.5
11 Mortgages 5,640.9 6,239.9
12 Home 4,362.9 4,787.2
13 Multifamily residential 307.8 343.8
14 Commercial 873.6 1,006.5
15 Farm 96.6 102.3
16 Consumer credit 1,346.6 1,446.1
By borrowing sector
17 Households 6,009.6 6,507.8
18 Nonfinancial business 5,338.8 5,939.4
19 Corporate 3,791.2 4,204.0
20 Nonfarm noncorporate 1,383.7 1,566.1
21 Farm 163.9 169.4
22 State and local government 1,138.3 1,176.9
23 Foreign credit market debt held in
United States 651.3 676.7
24 Commercial paper 72.9 89.2
25 Bonds 462.6 476.7
26 Bank loans n.e.c. 58.7 59.2
27 Other loans and advances 57.1 51.6
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 16,890.2 17,981.7
Financial sectors
29 Total credit market debt owed by
financial sectors 6,543.6 7,616.8
By instrument
30 Federal government-related 3,292.0 3,884.0
31 Government-sponsored enterprise securities 1,273.6 1,591.7
32 Mortgage pool securities 2,018.4 2,292.2
33 Loans from U.S. government .0 .0
34 Private 3,251.6 3,732.8
35 Open market paper 906.7 1,082.9
36 Corporate bonds 1,878.7 2,085.9
37 Bank loans n.e.c. 105.8 91.5
38 Other loans and advances 288.7 395.8
39 Mortgages 71.6 76.7
By borrowing sector
40 Commercial banks 188.6 230.0
41 Bank holding companies 193.5 219.3
42 Savings institutions 212.4 260.4
43 Credit unions 1.1 3.4
44 Life insurance companies 2.5 3.2
45 Government-sponsored enterprises 1,273.6 1,591.7
46 Federally related mortgage pools 2,018.4 2,292.2
47 Issuers of asset-backed securities (ABSs) 1,398.0 1,610.3
48 Brokers and dealers 42.5 25.3
49 Finance companies 625.5 695.7
50 Mortgage companies 16.0 16.0
51 Real estate investment trusts (REITs) 158.8 165.1
52 Funding corporations 412.6 504.0
All sectors
53 Total credit market debt, domestic and foreign 23,433.8 25,598.4
54 Open market paper 1,172.6 1,402.4
55 U.S. government securities 7,044.2 7,564.9
56 Municipal securities 1,402.9 1,457.2
57 Corporate and foreign bonds 4,187.4 4,626.4
58 Bank loans n.e.c. 1,314.8 1,383.8
59 Other loans and advances 1,253.0 1,400.9
60 Mortgages 5,712.5 6,316.6
61 Consumer credit 1,346.6 1,446.1
Transaction category or sector 2000 2001
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 18,164.5 19,299.7
By sector and instrument
2 Federal government 3,385.1 3,379.5
3 Treasury securities 3,357.8 3,352.7
4 Budget agency securities and mortgages 27.3 26.8
5 Nonfederal 14,779.4 15,920.2
By instrument
6 Commercial paper 278.4 190.1
7 Municipal securities and loans 1,480.9 1,603.6
8 Corporate bonds 2,225.1 2,565.6
9 Bank loans n.e.c. 1,335.0 1,253.5
10 Other loans and advances 1,059.6 1,088.8
11 Mortgages 6,807.4 7,516.6
12 Home 5,205.4 5,738.1
13 Multifamily residential 377.6 425.5
14 Commercial 1,115.5 1,236.6
15 Farm 108.9 116.3
16 Consumer credit 1,593.1 1,701.9
By borrowing sector
17 Households 7,072.7 7,686.4
18 Nonfinancial business 6,514.3 6,935.8
19 Corporate 4,583.9 4,841.1
20 Nonfarm noncorporate 1,750.2 1,907.0
21 Farm 180.2 187.7
22 State and local government 1,192.3 1,298.0
23 Foreign credit market debt held in
United States 742.3 704.9
24 Commercial paper 120.9 106.7
25 Bonds 500.6 488.4
26 Bank loans n.e.c. 70.5 63.2
27 Other loans and advances 50.3 46.6
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 18,906.9 20,004.6
Financial sectors
29 Total credit market debt owed by
financial sectors 8,437.6 9,393.2
By instrument
30 Federal government-related 4,317.4 4,944.1
31 Government-sponsored enterprise securities 1,825.8 2,114.0
32 Mortgage pool securities 2,491.6 2,830.1
33 Loans from U.S. government .0 .0
34 Private 4,120.1 4,449.1
35 Open market paper 1,210.7 1,148.8
36 Corporate bonds 2,297.2 2,638.7
37 Bank loans n.e.c. 91.1 104.2
38 Other loans and advances 438.3 473.2
39 Mortgages 82.9 84.2
By borrowing sector
40 Commercial banks 266.7 296.0
41 Bank holding companies 242.5 266.1
42 Savings institutions 287.7 295.1
43 Credit unions 3.4 4.9
44 Life insurance companies 2.5 3.1
45 Government-sponsored enterprises 1,825.8 2,114.0
46 Federally related mortgage pools 2,491.6 2,830.1
47 Issuers of asset-backed securities (ABSs) 1,812.0 2,130.0
48 Brokers and dealers 40.9 42.3
49 Finance companies 776.9 776.7
50 Mortgage companies 16.0 16.0
51 Real estate investment trusts (REITs) 167.8 170.2
52 Funding corporations 503.7 448.4
All sectors
53 Total credit market debt, domestic and foreign 27,344.4 29,397.8
54 Open market paper 1,610.0 1,445.6
55 U.S. government securities 7,702.5 8,323.6
56 Municipal securities 1,480.9 1,603.6
57 Corporate and foreign bonds 5,022.9 5,692.7
58 Bank loans n.e.c. 1,496.6 1,421.0
59 Other loans and advances 1,548.2 1,608.6
60 Mortgages 6,890.3 7,600.8
61 Consumer credit 1,593.1 1,701.9
2001
Transaction category or sector Q3 Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 18,922.4 19,299.7
By sector and instrument
2 Federal government 3,320.0 3,379.5
3 Treasury securities 3,293.0 3,352.7
4 Budget agency securities and mortgages 27.0 26.8
5 Nonfederal 15,602.4 15,920.2
By instrument
6 Commercial paper 201.3 190.1
7 Municipal securities and loans 1,557.5 1,603.6
8 Corporate bonds 2,484.4 2,565.6
9 Bank loans n.e.c. 1,287.5 1,253.5
10 Other loans and advances 1,110.1 1,088.8
11 Mortgages 7,332.4 7,516.6
12 Home 5,605.0 5,738.1
13 Multifamily residential 411.4 425.5
14 Commercial 1,201.4 1,236.6
15 Farm 114.6 116.3
16 Consumer credit 1,629.3 1,701.9
By borrowing sector
17 Households 7,492.5 7,686.4
18 Nonfinancial business 6,849.8 6,935.8
19 Corporate 4,793.1 4,841.1
20 Nonfarm noncorporate 1,870.8 1,907.0
21 Farm 185.9 187.7
22 State and local government 1,260.0 1,298.0
23 Foreign credit market debt held in
United States 701.7 704.9
24 Commercial paper 106.3 106.7
25 Bonds 481.0 488.4
26 Bank loans n.e.c. 67.3 63.2
27 Other loans and advances 47.0 46.6
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 19,624.0 20,004.6
Financial sectors
29 Total credit market debt owed by
financial sectors 9,118.1 9,393.2
By instrument
30 Federal government-related 4,796.2 4,944.1
31 Government-sponsored enterprise securities 2,037.4 2,114.0
32 Mortgage pool securities 2,758.8 2,830.0
33 Loans from U.S. government .0 .0
34 Private 4,321.9 4,449.1
35 Open market paper 1,110.2 1,148.8
36 Corporate bonds 2,562.1 2,638.7
37 Bank loans n.e.c. 97.8 104.2
38 Other loans and advances 467.2 473.2
39 Mortgages 84.6 84.2
By borrowing sector
40 Commercial banks 281.4 296.0
41 Bank holding companies 272.7 266.1
42 Savings institutions 305.6 295.1
43 Credit unions 3.8 4.9
44 Life insurance companies 2.8 3.1
45 Government-sponsored enterprises 2,037.4 2,114.0
46 Federally related mortgage pools 2,758.8 2,830.1
47 Issuers of asset-backed securities (ABSs) 2,019.5 2,130.0
48 Brokers and dealers 47.1 42.3
49 Finance companies 771.2 776.7
50 Mortgage companies 16.0 16.0
51 Real estate investment trusts (REITs) 168.3 170.2
52 Funding corporations 433.6 448.4
All sectors
53 Total credit market debt, domestic and foreign 28,742.1 29,397.8
54 Open market paper 1,417.8 1,445.6
55 U.S. government securities 8,116.2 8,323.6
56 Municipal securities 1,557.5 1,603.6
57 Corporate and foreign bonds 5,527.4 5,692.7
58 Bank loans n.e.c. 1,452.6 1,421.0
59 Other loans and advances 1,624.4 1,608.6
60 Mortgages 7,417.0 7,600.8
61 Consumer credit 1,629.3 1,701.9
2002
Transaction category or sector Q1 Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 19,541.3 19,857.5
By sector and instrument
2 Federal government 3,430.3 3,451.4
3 Treasury securities 3,404.0 3,424.6
4 Budget agency securities and mortgages 26.3 26.8
5 Nonfederal 16,111.0 16,406.1
By instrument
6 Commercial paper 167.5 148.4
7 Municipal securities and loans 1,627.3 1,681.9
8 Corporate bonds 2,629.0 2,676.9
9 Bank loans n.e.c. 1,240.1 1,195.0
10 Other loans and advances 1,089.6 1,106.0
11 Mortgages 7,680.2 7,896.7
12 Home 5,877.2 6,049.6
13 Multifamily residential 432.8 443.9
14 Commercial 1,252.0 1,282.8
15 Farm 118.1 120.4
16 Consumer credit 1,677.2 1,701.3
By borrowing sector
17 Households 7,802.0 7,988.1
18 Nonfinancial business 6,989.1 7,047.6
19 Corporate 4,867.2 4,887.7
20 Nonfarm noncorporate 1,934.7 1,968.0
21 Farm 187.1 191.8
22 State and local government 1,319.9 1,370.5
23 Foreign credit market debt held in
United States 724.5 725.5
24 Commercial paper 123.6 130.2
25 Bonds 487.9 477.6
26 Bank loans n.e.c. 66.7 72.2
27 Other loans and advances 46.4 45.5
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 20,265.8 20,583.0
Financial sectors
29 Total credit market debt owed by
financial sectors 9,589.5 9,803.8
By instrument
30 Federal government-related 5,116.9 5,238.8
31 Government-sponsored enterprise securities 2,161.8 2,197.2
32 Mortgage pool securities 2,955.1 3,041.6
33 Loans from U.S. government .0 .0
34 Private 4,472.6 4,564.9
35 Open market paper 1,090.9 1,046.9
36 Corporate bonds 2,731.1 2,849.1
37 Bank loans n.e.c. 102.3 110.6
38 Other loans and advances 462.4 470.8
39 Mortgages 85.9 87.6
By borrowing sector
40 Commercial banks 295.8 310.4
41 Bank holding companies 269.0 264.2
42 Savings institutions 280.5 275.3
43 Credit unions 5.5 6.0
44 Life insurance companies 3.7 4.0
45 Government-sponsored enterprises 2,161.8 2,197.2
46 Federally related mortgage pools 2,955.1 3,041.6
47 Issuers of asset-backed securities (ABSs) 2,188.1 2,250.0
48 Brokers and dealers 38.4 42.8
49 Finance companies 760.8 784.9
50 Mortgage companies 16.0 16.0
51 Real estate investment trusts (REITs) 172.1 178.4
52 Funding corporations 442.6 432.8
All sectors
53 Total credit market debt, domestic and foreign 29,855.3 30,386.8
54 Open market paper 1,382.0 1,325.5
55 U.S. government securities 8,547.2 8,690.2
56 Municipal securities 1,627.3 1,681.9
57 Corporate and foreign bonds 5,848.0 6,003.6
58 Bank loans n.e.c. 1,409.1 1,377.8
59 Other loans and advances 1,598.4 1,622.3
60 Mortgages 7,766.1 7,984.3
61 Consumer credit 1,677.2 1,701.3
2002
Transaction category or sector Q3 Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 20,190.4 20,685.1
By sector and instrument
2 Federal government 3,540.8 3,637.0
3 Treasury securities 3,513.6 3,609.8
4 Budget agency securities and mortgages 27.2 27.3
5 Nonfederal 16,649.6 17,048.1
By instrument
6 Commercial paper 142.2 126.0
7 Municipal securities and loans 1,708.4 1,770.6
8 Corporate bonds 2,669.6 2,698.2
9 Bank loans n.e.c. 1,162.2 1,171.1
10 Other loans and advances 1,116.9 1,124.3
11 Mortgages 8,128.3 8,395.9
12 Home 6,247.9 6,460.0
13 Multifamily residential 451.1 468.7
14 Commercial 1,305.7 1,341.4
15 Farm 123.6 125.8
16 Consumer credit 1,722.0 1,762.0
By borrowing sector
17 Households 8,185.0 8,454.4
18 Nonfinancial business 7,070.1 7,144.2
19 Corporate 4,876.2 4,908.5
20 Nonfarm noncorporate 1,999.0 2,039.0
21 Farm 194.9 196.6
22 State and local government 1,394.5 1,449.5
23 Foreign credit market debt held in
United States 720.2 723.1
24 Commercial paper 134.0 142.8
25 Bonds 471.8 467.6
26 Bank loans n.e.c. 69.3 68.6
27 Other loans and advances 45.0 44.2
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 20,910.6 21,408.3
Financial sectors
29 Total credit market debt owed by
financial sectors 10,007.8 10,317.0
By instrument
30 Federal government-related 5,344.0 5,498.1
31 Government-sponsored enterprise securities 2,259.5 2,339.9
32 Mortgage pool securities 3,084.5 3,158.2
33 Loans from U.S. government .0 .0
34 Private 4,663.8 4,818.9
35 Open market paper 1,049.5 1,078.7
36 Corporate bonds 2,904.0 3,054.8
37 Bank loans n.e.c. 130.3 105.3
38 Other loans and advances 491.2 489.9
39 Mortgages 88.9 90.1
By borrowing sector
40 Commercial banks 318.9 325.8
41 Bank holding companies 271.8 286.4
42 Savings institutions 286.4 281.4
43 Credit unions 6.8 6.9
44 Life insurance companies 4.5 5.1
45 Government-sponsored enterprises 2,259.5 2,339.9
46 Federally related mortgage pools 3,084.5 3,158.2
47 Issuers of asset-backed securities (ABSs) 2,303.0 2,404.3
48 Brokers and dealers 46.6 40.6
49 Finance companies 802.9 814.4
50 Mortgage companies 16.0 16.0
51 Real estate investment trusts (REITs) 185.3 190.0
52 Funding corporations 421.5 447.9
All sectors
53 Total credit market debt, domestic and foreign 30,918.4 31,725.2
54 Open market paper 1,325.7 1,347.5
55 U.S. government securities 8,884.8 9,135.1
56 Municipal securities 1,708.4 1,770.6
57 Corporate and foreign bonds 6,045.5 6,220.6
58 Bank loans n.e.c. 1,361.7 1,345.0
59 Other loans and advances 1,653.1 1,658.4
60 Mortgages 8,217.2 8,486.0
61 Consumer credit 1,722.0 1,762.0
2003
Transaction category or sector Q1
Nonfinancial
sectors
1 Total credit market debt owed by
domestic nonfinancial sectors 21,009.2
By sector and instrument
2 Federal government 3,700.6
3 Treasury securities 3,673.7
4 Budget agency securities and mortgages 26.9
5 Nonfederal 17,308.6
By instrument
6 Commercial paper 127.1
7 Municipal securities and loans 1,815.9
8 Corporate bonds 2,742.9
9 Bank loans n.e.c. 1,146.5
10 Other loans and advances 1,128.0
11 Mortgages 8,613.5
12 Home 6,643.6
13 Multifamily residential 478.0
14 Commercial 1,365.3
15 Farm 126.7
16 Consumer credit 1,734.8
By borrowing sector
17 Households 8,603.3
18 Nonfinancial business 7,214.4
19 Corporate 4,951.8
20 Nonfarm noncorporate 2,067.5
21 Farm 195.1
22 State and local government 1,490.9
23 Foreign credit market debt held in
United States 727.8
24 Commercial paper 155.7
25 Bonds 461.2
26 Bank loans n.e.c. 67.6
27 Other loans and advances 43.4
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign 21,737.0
Financial
sectors
29 Total credit market debt owed by
financial sectors 10,543.9
By instrument
30 Federal government-related 5,611.2
31 Government-sponsored enterprise securities 2,384.8
32 Mortgage pool securities 3,226.4
33 Loans from U.S. government .0
34 Private 4,932.7
35 Open market paper 1,048.4
36 Corporate bonds 3,206.8
37 Bank loans n.e.c. 92.9
38 Other loans and advances 495.4
39 Mortgages 89.2
By borrowing sector
40 Commercial banks 325.0
41 Bank holding companies 302.8
42 Savings institutions 276.0
43 Credit unions 7.6
44 Life insurance companies 6.3
45 Government-sponsored enterprises 2,384.8
46 Federally related mortgage pools 3,226.4
47 Issuers of asset-backed securities (ABSs) 2,478.1
48 Brokers and dealers 50.2
49 Finance companies 813.6
50 Mortgage companies 16.0
51 Real estate investment trusts (REITs) 194.4
52 Funding corporations 462.7
All sectors
53 Total credit market debt, domestic and foreign 32,281.0
54 Open market paper 1,331.1
55 U.S. government securities 9,311.8
56 Municipal securities 1,815.9
57 Corporate and foreign bonds 6,410.9
58 Bank loans n.e.c. 1,307.0
59 Other loans and advances 1,666.8
60 Mortgages 8,702.8
61 Consumer credit 1,734.8
(1.) Data in this table appear in the Board's Z.1 (780) quarterly
statistical release, tables L.2 through L.4. For ordering address, see
inside front rover.
1.60 SUMMARY OF FINANCIAL ASSETS AND LIABILITIES (1)
Billions of dollars except as noted, end of period
Transaction category or sector 1998 1999
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 23,433.8 25,598.4
2 Domestic nonfederal nonfinancial sectors 3,312.6 3,600.5
3 Household 2,264.1 2,542.1
4 Nonfinancial corporate business 241.5 226.0
5 Nonfarm noncorporate business 67.5 64.6
6 State and local governments 739.4 767.8
7 Federal government 219.0 258.0
8 Rest of the world 2,278.2 2,354.6
9 Financial Sectors 17,624.1 19,385.4
10 Monetary authority 452.5 478.1
11 Commercial banking 4,336.1 4,648.3
12 U.S.-chartered banks 3,761.4 4,080.0
13 Foreign banking offices in United
States 504.5 487.4
14 Bank holding companies 26.5 32.7
15 Banks in U.S.-affiliated areas 43.8 48.3
16 Savings institutions 964.7 1,032.4
17 Credit unions 324.2 351.7
18 Bank personal trusts and estates 194.1 222.0
19 Life insurance companies 1,828.0 1,886.0
20 Other insurance companies 521.1 518.2
21 Private pension funds 651.2 668.2
22 State and local government retirement
funds 704.6 751.4
23 Money market mutual funds 965.9 1,147.8
24 Mutual funds 1,028.4 1,076.8
25 Closed-end funds 98.4 106.9
26 Government-sponsored enterprises 1,252.3 1,543.5
27 Federally related mortgage pools 2,018.4 2,292.2
28 Asset-backed securities (ABSs) issuers 1,219.4 1,413.6
29 Finance companies 645.5 742.5
30 Mortgage companies 32.1 32.1
31 Real estate investment trusts (REITs) 45.5 42.9
32 Brokers and dealers 189.4 154.7
33 Funding corporations 152.3 276.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 23,433.8 25,598.4
Other liabilities
35 Official foreign exchange 60.1 50.1
36 Special drawing rights certificates 9.2 6.2
37 Treasury currency 19.9 20.9
38 Foreign deposits 642.3 703.6
39 Net interbank liabilities 189.4 202.4
40 Checkable deposits and currency 1,333.3 1,484.5
41 Small time and savings deposits 2,626.5 2,671.6
42 Large time deposits 805.3 936.4
43 Money market fund shares 1,329.7 1,578.8
44 Security repurchase agreements 913.8 1,083.6
45 Mutual fund shares 3,613.1 4,538.5
46 Security credit 572.2 676.6
47 Life insurance reserves 718.3 783.9
48 Pension fund reserves 8,208.4 9,065.3
49 Trade payables 2,073.8 2,342.4
50 Taxes payable 170.7 201.4
51 Investment in bank personal trusts 1,001.0 1,130.4
52 Miscellaneous 7,638.0 8,527.4
53 Total liabilities 55,358.7 61,602.4
Financial assets not included in liabilities
( )
54 Gold and special drawing rights 21.6 21.4
55 Corporate equities 15,548.5 19,545.7
56 Household equity in noncorporate business 4,279.4 4,510.0
Liabilities not identified as assets (-)
57 Treasury currency -6.4 -7.1
58 Foreign deposits 542.8 585.7
59 Net interbank transactions -26.5 -28.5
60 Security repurchase agreements 230.6 266.4
61 Taxes payable 121.2 129.4
62 Miscellaneous -1,951.9 -2,395.2
Floats not included in assets (-)
63 Federal government checkable deposits -3.9 -9.8
64 Other checkable deposits 23.1 22.3
65 Trade credit 84.8 95.6
66 Totals identified to sectors as assets 76,194.3 87,020.6
Transaction category or sector 2000 2001
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 27,344.4 29,397.8
2 Domestic nonfederal nonfinancial sectors 3,461.6 3,421.2
3 Household 2,379.3 2,311.1
4 Nonfinancial corporate business 249.4 237.1
5 Nonfarm noncorporate business 65.9 67.9
6 State and local governments 767.0 805.1
7 Federal government 265.3 271.3
8 Rest of the world 2,621.1 2,954.4
9 Financial Sectors 20,996.4 22,750.9
10 Monetary authority 511.8 551.7
11 Commercial banking 5,006.3 5,210.5
12 U.S.-chartered banks 4,419.5 4,610.1
13 Foreign banking offices in United
States 511.3 510.7
14 Bank holding companies 20.5 24.7
15 Banks in U.S.-affiliated areas 55.0 65.0
16 Savings institutions 1,088.6 1,131.4
17 Credit unions 379.7 421.2
18 Bank personal trusts and estates 222.8 194.7
19 Life insurance companies 1,943.9 2,074.8
20 Other insurance companies 509.4 518.4
21 Private pension funds 701.6 717.9
22 State and local government retirement
funds 806.0 788.4
23 Money market mutual funds 1,290.9 1,536.9
24 Mutual funds 1,097.8 1,223.8
25 Closed-end funds 100.6 107.4
26 Government-sponsored enterprises 1,807.1 2,114.3
27 Federally related mortgage pools 2,491.6 2,830.1
28 Asset-backed securities (ABSs) issuers 1,585.4 1,877.3
29 Finance companies 850.5 844.8
30 Mortgage companies 32.1 32.1
31 Real estate investment trusts (REITs) 35.8 42.5
32 Brokers and dealers 223.6 316.0
33 Funding corporations 311.0 216.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 27,344.4 29,397.8
Other liabilities
35 Official foreign exchange 46.1 46.8
36 Special drawing rights certificates 2.2 2.2
37 Treasury currency 23.2 24.5
38 Foreign deposits 824.5 908.9
39 Net interbank liabilities 221.2 191.4
40 Checkable deposits and currency 1,413.1 1,603.2
41 Small time and savings deposits 2,860.4 3,127.6
42 Large time deposits 1,052.6 1,121.1
43 Money market fund shares 1,812.1 2,240.7
44 Security repurchase agreements 1,196.8 1,231.8
45 Mutual fund shares 4,434.6 4,135.5
46 Security credit 822.7 825.9
47 Life insurance reserves 819.1 880.0
48 Pension fund reserves 9,069.0 8,695.8
49 Trade payables 2,761.9 2,688.8
50 Taxes payable 234.2 251.6
51 Investment in bank personal trusts 1,095.8 960.7
52 Miscellaneous 9,717.9 10,343.0
53 Total liabilities 65,751.7 68,677.5
Financial assets not included in liabilities
( )
54 Gold and special drawing rights 21.6 21.8
55 Corporate equities 17,606.5 15,267.1
56 Household equity in noncorporate business 4,748.4 4,831.0
Liabilities not identified as assets (-)
57 Treasury currency -8.5 -8.6
58 Foreign deposits 650.9 715.6
59 Net interbank transactions -4.3 11.1
60 Security repurchase agreements 388.9 348.6
61 Taxes payable 146.3 121.7
62 Miscellaneous -3,394.2 -3,637.3
Floats not included in assets (-)
63 Federal government checkable deposits -2.3 -12.3
64 Other checkable deposits 24.0 28.6
65 Trade credit 122.0 115.5
66 Totals identified to sectors as assets 90,205.4 91,114.5
2001
Transaction category or sector Q3 Q4
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 28,742.1 29,397.8
2 Domestic nonfederal nonfinancial sectors 3,362.6 3,421.2
3 Household 2,279.7 2,311.1
4 Nonfinancial corporate business 220.9 237.1
5 Nonfarm noncorporate business 67.4 67.9
6 State and local governments 794.6 805.1
7 Federal government 269.6 271.3
8 Rest of the world 2,837.5 2,954.4
9 Financial Sectors 22,272.4 22,750.9
10 Monetary authority 534.1 551.7
11 Commercial banking 5,100.6 5,210.5
12 U.S.-chartered banks 4,513.5 4,610.1
13 Foreign banking offices in United
States 509.3 510.7
14 Bank holding companies 21.3 24.7
15 Banks in U.S.-affiliated areas 56.5 65.0
16 Savings institutions 1,118.1 1,131.4
17 Credit unions 408.4 421.2
18 Bank personal trusts and estates 201.8 194.7
19 Life insurance companies 2,054.8 2,074.8
20 Other insurance companies 511.3 518.4
21 Private pension funds 720.6 717.9
22 State and local government retirement
funds 789.0 788.4
23 Money market mutual funds 1,494.9 1,536.9
24 Mutual funds 1,188.2 1,223.8
25 Closed-end funds 103.3 107.4
26 Government-sponsored enterprises 2,026.1 2,114.3
27 Federally related mortgage pools 2,758.8 2,830.1
28 Asset-backed securities (ABSs) issuers 1,772.5 1,877.3
29 Finance companies 859.5 844.8
30 Mortgage companies 32.1 32.1
31 Real estate investment trusts (REITs) 39.0 42.5
32 Brokers and dealers 366.4 316.0
33 Funding corporations 193.0 216.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 28,742.1 29,397.8
Other liabilities
35 Official foreign exchange 49.0 46.8
36 Special drawing rights certificates 2.2 2.2
37 Treasury currency 24.5 24.5
38 Foreign deposits 848.0 908.9
39 Net interbank liabilities 174.4 191.4
40 Checkable deposits and currency 1,487.1 1,603.2
41 Small time and savings deposits 3,047.6 3,127.6
42 Large time deposits 1,094.2 1,121.1
43 Money market fund shares 2,115.4 2,240.7
44 Security repurchase agreements 1,251.9 1,231.8
45 Mutual fund shares 3,753.1 4,135.5
46 Security credit 919.9 825.9
47 Life insurance reserves 844.0 880.0
48 Pension fund reserves 8,281.0 8,695.8
49 Trade payables 2,705.4 2,688.8
50 Taxes payable 270.1 251.6
51 Investment in bank personal trusts 916.5 960.7
52 Miscellaneous 10,816.7 10,343.0
53 Total liabilities 67,343.2 68,677.5
Financial assets not included in liabilities
( )
54 Gold and special drawing rights 22.0 21.8
55 Corporate equities 13,684.2 15,267.1
56 Household equity in noncorporate business 4,857.0 4,831.0
Liabilities not identified as assets (-)
57 Treasury currency -8.6 -8.6
58 Foreign deposits 668.9 715.6
59 Net interbank transactions 4.5 11.1
60 Security repurchase agreements 398.7 348.6
61 Taxes payable 167.3 121.7
62 Miscellaneous -3,125.1 -3,637.3
Floats not included in assets (-)
63 Federal government checkable deposits -4.0 -12.3
64 Other checkable deposits 19.2 28.6
65 Trade credit 16.4 115.5
66 Totals identified to sectors as assets 87,769.0 91,114.5
2002
Transaction category or sector Q1 Q2
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 29,855.3 30,386.8
2 Domestic nonfederal nonfinancial sectors 3,443.6 3,506.8
3 Household 2,342.9 2,394.4
4 Nonfinancial corporate business 226.3 223.0
5 Nonfarm noncorporate business 68.7 69.6
6 State and local governments 805.6 819.7
7 Federal government 272.9 274.6
8 Rest of the world 3,000.6 3,133.2
9 Financial Sectors 23,138.2 23,472.2
10 Monetary authority 575.4 590.7
11 Commercial banking 5,231.3 5,328.3
12 U.S.-chartered banks 4,629.3 4,719.7
13 Foreign banking offices in United
States 507.7 512.6
14 Bank holding companies 27.7 28.1
15 Banks in U.S.-affiliated areas 66.6 67.9
16 Savings institutions 1,134.7 1,130.9
17 Credit unions 434.3 443.2
18 Bank personal trusts and estates 195.0 195.2
19 Life insurance companies 2,136.9 2,180.1
20 Other insurance companies 527.6 536.4
21 Private pension funds 731.2 738.5
22 State and local government retirement
funds 806.0 792.4
23 Money market mutual funds 1,496.9 1,419.3
24 Mutual funds 1,276.8 1,291.6
25 Closed-end funds 113.5 112.9
26 Government-sponsored enterprises 2,163.8 2,199.9
27 Federally related mortgage pools 2,955.1 3,041.6
28 Asset-backed securities (ABSs) issuers 1,929.4 1,985.7
29 Finance companies 832.4 845.6
30 Mortgage companies 32.1 32.1
31 Real estate investment trusts (REITs) 49.1 57.0
32 Brokers and dealers 299.6 352.6
33 Funding corporations 217.3 198.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 29,855.3 30,386.8
Other liabilities
35 Official foreign exchange 45.7 47.2
36 Special drawing rights certificates 2.2 2.2
37 Treasury currency 24.7 24.8
38 Foreign deposits 894.1 907.4
39 Net interbank liabilities 162.4 132.3
40 Checkable deposits and currency 1,518.1 1,571.9
41 Small time and savings deposits 3,236.7 3,256.4
42 Large time deposits 1,178.9 1,188.7
43 Money market fund shares 2,203.3 2,150.3
44 Security repurchase agreements 1,262.4 1,343.1
45 Mutual fund shares 4,247.0 3,926.6
46 Security credit 778.0 745.6
47 Life insurance reserves 904.2 915.2
48 Pension fund reserves 8,824.7 8,331.9
49 Trade payables 2,714.8 2,716.4
50 Taxes payable 259.4 266.1
51 Investment in bank personal trusts 963.2 893.5
52 Miscellaneous 10,345.1 10,634.3
53 Total liabilities 69,420.1 69,400.9
Financial assets not included in liabilities
( )
54 Gold and special drawing rights 21.9 22.3
55 Corporate equities 15,292.8 13,393.0
56 Household equity in noncorporate business 4,857.4 4,925.5
Liabilities not identified as assets (-)
57 Treasury currency -8.9 -9.1
58 Foreign deposits 698.5 724.9
59 Net interbank transactions 21.9 18.4
60 Security repurchase agreements 401.4 462.1
61 Taxes payable 110.4 163.9
62 Miscellaneous -3,589.1 -3,609.5
Floats not included in assets (-)
63 Federal government checkable deposits -9.6 -9.3
64 Other checkable deposits 26.3 31.4
65 Trade credit 56.5 10.0
66 Totals identified to sectors as assets 91,884.7 89,998.9
2002
Transaction category or sector Q3 Q4
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 30,918.4 31,725.2
2 Domestic nonfederal nonfinancial sectors 3,434.0 3,535.9
3 Household 2,314.9 2,402.0
4 Nonfinancial corporate business 230.0 234.2
5 Nonfarm noncorporate business 69.0 68.8
6 State and local governments 820.1 830.9
7 Federal government 276.6 280.1
8 Rest of the world 3,252.9 3,347.6
9 Financial Sectors 23,955.0 24,561.6
10 Monetary authority 604.2 629.4
11 Commercial banking 5,476.2 5,620.2
12 U.S.-chartered banks 4,858.4 5,003.9
13 Foreign banking offices in United
States 521.2 516.9
14 Bank holding companies 27.7 27.8
15 Banks in U.S.-affiliated areas 68.8 71.6
16 Savings institutions 1,153.8 1,166.8
17 Credit unions 455.3 463.9
18 Bank personal trusts and estates 195.4 195.6
19 Life insurance companies 2,250.6 2,286.5
20 Other insurance companies 541.9 554.1
21 Private pension funds 753.1 755.4
22 State and local government retirement
funds 789.8 804.9
23 Money market mutual funds 1,405.7 1,511.6
24 Mutual funds 1,334.5 1,365.4
25 Closed-end funds 112.4 116.7
26 Government-sponsored enterprises 2,252.9 2,320.9
27 Federally related mortgage pools 3,084.5 3,158.2
28 Asset-backed securities (ABSs) issuers 2,033.0 2,128.9
29 Finance companies 857.1 862.0
30 Mortgage companies 32.1 32.1
31 Real estate investment trusts (REITs) 63.9 65.6
32 Brokers and dealers 335.2 344.4
33 Funding corporations 219.5 175.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 30,918.4 31,725.2
Other liabilities
35 Official foreign exchange 53.1 55.8
36 Special drawing rights certificates 2.2 2.2
37 Treasury currency 25.5 25.5
38 Foreign deposits 920.4 934.3
39 Net interbank liabilities 150.7 205.9
40 Checkable deposits and currency 1,610.7 1,649.3
41 Small time and savings deposits 3,336.8 3,402.4
42 Large time deposits 1,199.9 1,175.2
43 Money market fund shares 2,105.9 2,223.9
44 Security repurchase agreements 1,313.7 1,336.8
45 Mutual fund shares 3,452.3 3,639.4
46 Security credit 726.3 738.8
47 Life insurance reserves 927.9 951.4
48 Pension fund reserves 7,732.0 8,014.2
49 Trade payables 2,764.6 2,812.4
50 Taxes payable 282.0 281.0
51 Investment in bank personal trusts 811.6 840.9
52 Miscellaneous 11,043.4 11,013.6
53 Total liabilities 69,377.4 71,028.1
Financial assets not included in liabilities
( )
54 Gold and special drawing rights 22.8 23.2
55 Corporate equities 10,993.2 11,833.9
56 Household equity in noncorporate business 4,981.5 5,024.3
Liabilities not identified as assets (-)
57 Treasury currency -8.9 -9.1
58 Foreign deposits 731.0 738.8
59 Net interbank transactions 16.5 15.3
60 Security repurchase agreements 381.6 356.0
61 Taxes payable 155.2 157.1
62 Miscellaneous -3,510.4 -3,483.5
Floats not included in assets (-)
63 Federal government checkable deposits -14.8 -11.7
64 Other checkable deposits 25.8 35.9
65 Trade credit 2.4 78.1
66 Totals identified to sectors as assets 87,596.4 90,032.6
2003
Transaction category or sector Q1
CREDIT MARKET DEBT OUTSTANDING (2)
1 Total credit market assets 32,281.0
2 Domestic nonfederal nonfinancial sectors 3,501.6
3 Household 2,387.9
4 Nonfinancial corporate business 225.1
5 Nonfarm noncorporate business 67.5
6 State and local governments 821.2
7 Federal government 279.9
8 Rest of the world 3,466.3
9 Financial Sectors 25,133.1
10 Monetary authority 641.5
11 Commercial banking 5,679.0
12 U.S.-chartered banks 5,055.6
13 Foreign banking offices in United
States 519.0
14 Bank holding companies 33.0
15 Banks in U.S.-affiliated areas 71.5
16 Savings institutions 1,215.5
17 Credit unions 473.2
18 Bank personal trusts and estates 190.8
19 Life insurance companies 2,323.3
20 Other insurance companies 564.5
21 Private pension funds 760.9
22 State and local government retirement
funds 805.4
23 Money market mutual funds 1,485.5
24 Mutual funds 1,415.3
25 Closed-end funds 118.6
26 Government-sponsored enterprises 2,375.8
27 Federally related mortgage pools 3,226.4
28 Asset-backed securities (ABSs) issuers 2,196.8
29 Finance companies 853.1
30 Mortgage companies 32.1
31 Real estate investment trusts (REITs) 63.5
32 Brokers and dealers 389.2
33 Funding corporations 219.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt 32,281.0
Other liabilities
35 Official foreign exchange 57.6
36 Special drawing rights certificates 2.2
37 Treasury currency 25.6
38 Foreign deposits 954.1
39 Net interbank liabilities 223.4
40 Checkable deposits and currency 1,683.4
41 Small time and savings deposits 3,505.9
42 Large time deposits 1,212.7
43 Money market fund shares 2,156.2
44 Security repurchase agreements 1,325.3
45 Mutual fund shares 3,586.8
46 Security credit 784.5
47 Life insurance reserves 968.7
48 Pension fund reserves 7,936.1
49 Trade payables 2,814.1
50 Taxes payable 294.7
51 Investment in bank personal trusts 806.3
52 Miscellaneous 11,281.9
53 Total liabilities 71,900.4
Financial assets not included in liabilities
( )
54 Gold and special drawing rights 22.4
55 Corporate equities 11,370.5
56 Household equity in noncorporate business 5,068.7
Liabilities not identified as assets (-)
57 Treasury currency -9.2
58 Foreign deposits 768.1
59 Net interbank transactions 19.4
60 Security repurchase agreements 342.6
61 Taxes payable 141.0
62 Miscellaneous -3,527.3
Floats not included in assets (-)
63 Federal government checkable deposits 27.4
64 Other checkable deposits 34.2
65 Trade credit 22.6
66 Totals identified to sectors as assets 90,543.3
(1.) Data in this table also appear in the Board's Z.1 (780) quarterly
statistical release, tables L.1 and L.5. For ordering address, see
inside front cover.
(2.) Excludes corporate equities and mutual fund shares.
2.12 OUTPUT, CAPACITY AND CAPACITY UTILIZATION (1)
Seasonally adjusted
2002
Series
Q3 Q4
Output
(1997=100)
1 Total industry 111.4 110.4
2 Manufacturing 112.3 111.2
3 Manufacturing (NAICS) 112.6 111.5
4 Durable manufacturing 122.3 121.4
5 Primary metal 85.9 86.0
6 Fabricated metal products 99.5 98.9
7 Machinery 88.7 86.7
8 Computer and electronic
products 222.6 224.4
9 Electrical equipment
appliances, and
components 97.7 96.8
10 Motor vehicles and parts 121.7 120.0
11 Aerospace and
miscellaneous
transportation
equipment 85.9 85.1
12 Nondurable manufacturing 100.1 98.8
13 Ford, beverage, and
tobacco products 100.1 98.8
14 Textile and product mills 82.9 81.2
15 Paper 95.7 95.8
16 Petroleum and coal products 102.3 102.8
17 Chemical 100.0 104.1
18 Plastics and rubber products 107.3 105.6
19 Other manufacturing (non-NAICS) 106.0 106.0
20 Mining 935.0 93.7
21 Electric and gas utilities 112.5 111.5
MEMOS
22 Computers, communications
equipment, and
semiconductors 295.5 300.4
23 Total excluding computers,
communications equipment,
and semiconductors 101.3 100.3
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 100.5 99.4
2003
Series
Q1 (r) Q2
Output
(1997=100)
1 Total industry 110.5 109.6
2 Manufacturing 111.0 110.4
3 Manufacturing (NAICS) 111.3 110.5
4 Durable manufacturing 121.2 120.3
5 Primary metal 83.9 80.2
6 Fabricated metal products 97.1 95.6
7 Machinery 87.2 87.5
8 Computer and electronic
products 227.8 232.1
9 Electrical equipment
appliances, and
components 95.7 95.0
10 Motor vehicles and parts 12.0 116.4
11 Aerospace and
miscellaneous
transportation
equipment 85.8 86.2
12 Nondurable manufacturing 98.5 98.0
13 Ford, beverage, and
tobacco products 98.3 98.4
14 Textile and product mills 79.1 77.6
15 Paper 93.5 93.3
16 Petroleum and coal products 102.5 102.8
17 Chemical 105.4 105.2
18 Plastics and rubber products 105.3 104.6
19 Other manufacturing (non-NAICS) 107.0 107.9
20 Mining 93.1 93.6
21 Electric and gas utilities 114.3 110.0
MEMOS
22 Computers, communications
equipment, and
semiconductors 306.4 316.9
23 Total excluding computers,
communications equipment,
and semiconductors 100.3 99.2
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 99.1 98.3
2002
Series
Q3 Q4
Capacity
(percent of
1997 output)
1 Total industry 146.2 146.6
2 Manufacturing 151.1 151.4
3 Manufacturing (NAICS) 152.5 152.8
4 Durable manufacturing 173.4 174.2
5 Primary metal 111.4 110.8
6 Fabricated metal products 139.4 139.6
7 Machinery 129.9 129.9
8 Computer and electronic
products 355.4 355.4
9 Electrical equipment
appliances, and
components 128.6 128.2
10 Motor vehicles and parts 147.1 148.4
11 Aerospace and
miscellaneous
transportation
equipment 145.3 145.1
12 Nondurable manufacturing 127.5 127.3
13 Ford, beverage, and
tobacco products 125.7 125.6
14 Textile and product mills 111.7 111.1
15 Paper 114.0 113.9
16 Petroleum and coal products 115.2 115.7
17 Chemical 141.2 141.3
18 Plastics and rubber products 133.6 132.9
19 Other manufacturing (non-NAICS) 129.5 128.7
20 Mining 110.1 110.2
21 Electric and gas utilities 127.6 129.7
MEMOS
22 Computers, communications
equipment, and
semiconductors 475.3 483.3
23 Total excluding computers,
communications equipment,
and semiconductors 130.5 130.6
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 132.6 132.6
2003
Series
Q1 Q2
Capacity
(percent of
1997 output)
1 Total industry 147.0 147.4
2 Manufacturing 151.7 152.0
3 Manufacturing (NAICS) 153.2 153.6
4 Durable manufacturing 175.0 176.0
5 Primary metal 110.7 110.8
6 Fabricated metal products 139.8 139.9
7 Machinery 129.8 129.6
8 Computer and electronic
products 365.9 372.1
9 Electrical equipment
appliances, and
components 128.0 127.8
10 Motor vehicles and parts 149.9 151.4
11 Aerospace and
miscellaneous
transportation
equipment 145.1 145.1
12 Nondurable manufacturing 127.2 127.1
13 Ford, beverage, and
tobacco products 125.5 125.2
14 Textile and product mills 110.6 110.0
15 Paper 113.5 113.2
16 Petroleum and coal products 116.1 116.5
17 Chemical 141.5 141.7
18 Plastics and rubber products 132.4 131.6
19 Other manufacturing (non-NAICS) 128.2 127.8
20 Mining 110.3 110.4
21 Electric and gas utilities 131.5 133.1
MEMOS
22 Computers, communications
equipment, and
semiconductors 493.3 504.9
23 Total excluding computers,
communications equipment,
and semiconductors 130.8 131.1
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 132.6 132.7
2002
Series
Q3 Q4
Capacity
utilization
rate
(percent)
(2)
1 Total industry 76.2 75.3
2 Manufacturing 74.3 73.5
3 Manufacturing (NAICS) 73.8 73.0
4 Durable manufacturing 70.5 69.7
5 Primary metal 77.1 77.6
6 Fabricated metal products 71.3 70.8
7 Machinery 68.3 667.0
8 Computer and electronic
products 62.6 62.3
9 Electrical equipment
appliances, and
components 75.9 75.5
10 Motor vehicles and parts 82.7 80.8
11 Aerospace and
miscellaneous
transportation
equipment 59.1 58.7
12 Nondurable manufacturing 78.5 77.6
13 Ford, beverage, and
tobacco products 79.7 78.7
14 Textile and product mills 74.2 73.1
15 Paper 84.0 84.2
16 Petroleum and coal products 88.7 88.9
17 Chemical 75.3 73.7
18 Plastics and rubber products 8.0 79.4
19 Other manufacturing (non-NAICS) 81.8 82.3
20 Mining 84.9 85.1
21 Electric and gas utilities 88.2 86.1
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.2 62.2
23 Total excluding computers,
communications equipment,
and semiconductors 77.6 76.8
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 75.8 75.0
2003
Series
Q1 (r) Q2
Capacity
utilization
rate
(percent)
(2)
1 Total industry 75.2 74.3
2 Manufacturing 73.2 72.7
3 Manufacturing (NAICS) 72.6 72.0
4 Durable manufacturing 69.3 68.4
5 Primary metal 75.8 72.4
6 Fabricated metal products 69.4 68.4
7 Machinery 67.2 67.5
8 Computer and electronic
products 62.3 62.4
9 Electrical equipment
appliances, and
components 74.7 74.3
10 Motor vehicles and parts 80.4 76.9
11 Aerospace and
miscellaneous
transportation
equipment 59.1 59.4
12 Nondurable manufacturing 77.4 77.1
13 Ford, beverage, and
tobacco products 78.3 78.6
14 Textile and product mills 71.5 70.6
15 Paper 82.4 82.4
16 Petroleum and coal products 88.3 88.2
17 Chemical 74.5 74.2
18 Plastics and rubber products 79.5 79.5
19 Other manufacturing (non-NAICS) 83.4 84.5
20 Mining 84.4 84.7
21 Electric and gas utilities 86.9 82.6
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.1 62.8
23 Total excluding computers,
communications equipment,
and semiconductors 76.6 75.7
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 74.7 74.1
1973 1975
Series
High Low
Capacity
utilization
rate
(percent)
(2)
1 Total industry 88.8 74.0
2 Manufacturing 88.0 71.6
3 Manufacturing (NAICS) 88.1 71.4
4 Durable manufacturing 89.0 69.6
5 Primary metal 100.9 68.9
6 Fabricated metal products 91.8 69.6
7 Machinery 94.2 74.2
8 Computer and electronic
products 87.0 66.9
9 Electrical equipment
appliances, and
components 99.3 68.5
10 Motor vehicles and parts 95.3 55.3
11 Aerospace and
miscellaneous
transportation
equipment 75.0 66.3
12 Nondurable manufacturing 87.5 72.5
13 Ford, beverage, and
tobacco products 85.9 78.0
14 Textile and product mills 89.8 62.8
15 Paper 97.4 74.7
16 Petroleum and coal products 93.2 81.0
17 Chemical 85.0 68.9
18 Plastics and rubber
products 96.3 61.6
19 Other manufacturing (non-NAICS) 85.7 75.7
20 Mining 93.6 87.6
21 Electric and gas utilities 96.2 82.7
MEMOS
22 Computers, communications
equipment, and
semiconductors 84.5 63.2
23 Total excluding computers,
communications equipment,
and semiconductors 89.1 74.3
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 88.3 71.9
Previous
cycle (3)
Series
High Low
Capacity
utilization
rate
(percent)
(2)
1 Total industry 86.6 70.8
2 Manufacturing 86.3 68.6
3 Manufacturing (NAICS) 86.3 67.9
4 Durable manufacturing 87.0 63.1
5 Primary metal 91.3 47.2
6 Fabricated metal products 83.1 61.7
7 Machinery 92.8 58.3
8 Computer and electronic
products 89.8 77.3
9 Electrical equipment
appliances, and
components 91.9 64.4
10 Motor vehicles and parts 96.2 45.2
11 Aerospace and
miscellaneous
transportation
equipment 84.6 69.8
12 Nondurable manufacturing 85.7 75.6
13 Ford, beverage, and
tobacco products 84.3 80.2
14 Textile and product mills 90.1 72.3
15 Paper 95.6 81.3
16 Petroleum and coal products 92.3 71.1
17 Chemical 83.0 67.9
18 Plastics and rubber
products 90.5 77.1
19 Other manufacturing (non-NAICS) 88.1 85.7
20 Mining 94.2 78.6
21 Electric and gas utilities 87.9 77.2
MEMOS
22 Computers, communications
equipment, and
semiconductors 89.9 75.6
23 Total excluding computers,
communications equipment,
and semiconductors 86.6 70.5
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 86.3 68.1
Latest cycle (4)
Series
High Low
Capacity
utilization
rate
(percent)
(2)
1 Total industry 85.1 78.6
2 Manufacturing 85.6 77.2
3 Manufacturing (NAICS) 85.5 77.0
4 Durable manufacturing 84.5 73.4
5 Primary metal 95.3 75.2
6 Fabricated metal products 80.1 71.0
7 Machinery 84.7 72.9
8 Computer and electronic
products 81.5 76.4
9 Electrical equipment
appliances, and
components 87.5 75.0
10 Motor vehicles and parts 90.0 56.6
11 Aerospace and
miscellaneous
transportation
equipment 88.9 81.9
12 Nondurable manufacturing 86.9 81.8
13 Ford, beverage, and
tobacco products 85.5 81.3
14 Textile and product mills 91.1 77.1
15 Paper 94.0 85.4
16 Petroleum and coal products 88.9 82.5
17 Chemical 85.6 80.8
18 Plastics and rubber products 91.2 77.1
19 Other manufacturing (non-NAICS) 90.2 79.1
20 Mining 85.6 83.3
21 Electric and gas utilities 92.6 84.2
MEMOS
22 Computers, communications
equipment, and
semiconductors 80.4 74.6
23 Total excluding computers,
communications equipment,
and semiconductors 85.5 78.8
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 86.1 77.3
2002 2003
Series
June Jan.
Capacity
utilization
rate
(percent)
(2)
1 Total industry 75.9 75.3
2 Manufacturing 74.1 73.3
3 Manufacturing (NAICS) 73.7 72.8
4 Durable manufacturing 70.5 69.8
5 Primary metal 77.1 76.9
6 Fabricated metal products 71.3 70.1
7 Machinery 68.5 66.8
8 Computer and electronic
products 62.7 62.3
9 Electrical equipment
appliances, and
components 76.6 74.7
10 Motor vehicles and parts 81.1 82.3
11 Aerospace and
miscellaneous
transportation
equipment 59.7 59.3
12 Nondurable manufacturing 78.3 77.2
13 Ford, beverage, and
tobacco products 80.3 78.5
14 Textile and product mills 74.4 70.7
15 Paper 83.0 81.9
16 Petroleum and coal products 89.1 88.0
17 Chemical 74.9 73.8
18 Plastics and rubber products 80.2 79.1
19 Other manufacturing (non-NAICS) 81.2 82.0
20 Mining 84.9 84.9
21 Electric and gas utilities 87.2 87.8
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.4 61.8
23 Total excluding computers,
communications equipment,
and semiconductors 77.3 76.8
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 75.6 74.9
2003
Series
Feb. Mar. (r)
Capacity
utilization
rate
(percent)
(2)
1 Total industry 75.3 74.8
2 Manufacturing 73.3 73.1
3 Manufacturing (NAICS) 72.7 72.4
4 Durable manufacturing 69.3 68.7
5 Primary metal 77.0 73.5
6 Fabricated metal products 69.5 68.8
7 Machinery 67.4 67.4
8 Computer and electronic
products 62.2 623.0
9 Electrical equipment
appliances, and
components 75.1 74.4
10 Motor vehicles and parts 80.1 78.7
11 Aerospace and
miscellaneous
transportation
equipment 59.3 59.1
12 Nondurable manufacturing 77.4 77.6
13 Ford, beverage, and
tobacco products 78.2 78.3
14 Textile and product mills 71.7 72.2
15 Paper 81.9 83.4
16 Petroleum and coal products 87.7 89.3
17 Chemical 74.9 74.8
18 Plastics and rubber products 79.5 79.9
19 Other manufacturing (non-NAICS) 83.9 84.5
20 Mining 84.1 84.1
21 Electric and gas utilities 88.4 84.6
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.1 62.4
23 Total excluding computers,
communications equipment,
and semiconductors 76.8 76.2
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 74.8 74.5
2003
Series
Apr. (r) May (r)
Capacity
utilization
rate
(percent)
(2)
1 Total industry 74.4 74.3
2 Manufacturing 72.5 72.6
3 Manufacturing (NAICS) 71.9 71.9
4 Durable manufacturing 68.3 68.3
5 Primary metal 74.1 71.2
6 Fabricated metal products 68.2 68.6
7 Machinery 67.1 67.6
8 Computer and electronic
products 62.2 62.5
9 Electrical equipment
appliances, and
components 73.8 74.4
10 Motor vehicles and parts 77.4 76.3
11 Aerospace and
miscellaneous
transportation
equipment 58.9 59.7
12 Nondurable manufacturing 77.0 77.0
13 Ford, beverage, and
tobacco products 78.1 78.4
14 Textile and product mills 71.1 70.4
15 Paper 82.3 82.7
16 Petroleum and coal products 87.6 89.2
17 Chemical 74.6 73.6
18 Plastics and rubber products 78.6 80.1
19 Other manufacturing (non-NAICS) 83.9 84.4
20 Mining 84.2 84.6
21 Electric and gas utilities 84.3 83.4
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.6 62.8
23 Total excluding computers,
communications equipment,
and semiconductors 75.7 75.7
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 74.1 74.0
2003
Series
June (p)
Capacity
utilization
rate
(percent)
(2)
1 Total industry 74.3
2 Manufacturing 72.8
3 Manufacturing (NAICS) 72.1
4 Durable manufacturing 68.4
5 Primary metal 72
6 Fabricated metal products 68.3
7 Machinery 67.7
8 Computer and electronic
products 62.4
9 Electrical equipment
appliances, and
components 74.8
10 Motor vehicles and parts 76.9
11 Aerospace and
miscellaneous
transportation
equipment 59.6
12 Nondurable manufacturing 77.4
13 Ford, beverage, and
tobacco products 79.3
14 Textile and product mills 70.2
15 Paper 82.2
16 Petroleum and coal products 87.8
17 Chemical 74.5
18 Plastics and rubber products 79.6
19 Other manufacturing (non-NAICS) 85.1
20 Mining 85.4
21 Electric and gas utilities 80.2
MEMOS
22 Computers, communications
equipment, and
semiconductors 62.9
23 Total excluding computers,
communications equipment,
and semiconductors 75.7
24 Manufacturing excluding computers
communications
equipment, and
semiconductors 74.3
Note. The statistics in the G.17 release cover output. capacity, and
capacity utilization in the industrial sector. which the Federal
Reserve defines are manufacturing, mining, and electric and gas
utilities. Manufacturing consists of those industries included in
the North American Industry Classification System, or NAICS,
manufacturing plus those industries--logging and newspaper, periodical,
book, and directory publishing--that have traditionally been considered
manufacturing and included in the industrial sector.
(1.) Data in this table also appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in December 2002, The recent
annual revision is described in the April 2003 issue of the Bulletin.
(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.) Monthly highs. 1978-80; monthly low,, 1982.
(4.) Monthly highs, 1988-89: monthly lows, 1990-91.
2.13 INDUSTRIAL PRODUCTION Indexes and Gross Value (1)
Monthly data seasonally adjusted
2002
pro-
por- 2002
Group tion avg.
MAJOR MARKETS
1 Total IP 100.0 110.5
Market groups
2 Final products and nonindustrial
supplies 59.8 109.3
3 Consumer goods 30.5 107.5
4 Durable 7.5 117.3
5 Automotive products 4.3 125.4
6 Home electronics 0.3 142.9
7 Appliances, furniture,
carpeting 1.3 106.9
8 Miscellaneous goods 1.6 98.5
9 Nondurable 22.9 104.1
10 Non-energy 19.0 102.6
11 Foods and tobacco 10.3 99.5
12 Clothing 1.0 72.4
13 Chemical products 4.8 119.1
14 Paper products 2.3 108.1
15 Energy 4.0 112.0
16 Business equipment 9.7 107.3
17 Transit 1.7 81.2
18 Information processing 3.1 153.8
19 Industrial and other 4.9 91.5
20 Defense and space equipment 2.2 101.2
21 Construction supplies. 6.8 104.0
22 Business supplies 10.3 121.9
23 Materials 40.2 112.2
24 Non energy 30.5 115.8
25 Durable 18.6 128.0
26 Consumer parts 4.2 110.8
27 Equipment parts 5.9 182.6
28 Other 8.4 97.1
29 Nondurable 11.9 97.0
30 Textile 0.8 77.6
31 Paper 3.0 94.8
32 Chemical 4.2 99.1
33 Energy 9.7 98.7
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 94.7 100.5
35 Total excluding motor vehicles
and parts 92.9 110.0
Gross value
(billion of
1996 dollars,
annual rates)
36 Final products and
nonindustrial supplies 59.8 2,801.4
37 Final products 42.7 2,022.5
38 Consumer good 30.5 1,386.5
39 Equipment total 12.2 626.9
40 Nonindustrial supplies 17.1 778.9
INDUSTRY GROUPS
41 Manufacturing 84.6 111.4
42 Manufacturing (NAICS) 79.3 111.7
43 Durable manufacturing 43.4 121.1
44 Wood products 321 1.4 100.5
45 Nonmetallic mineral
products 327 2.5 107.9
46 Primary metal 331 2.5 85.6
47 Fabricated metal products 332 6.1 99.0
48 Machinery 333 5.3 87.9
49 Computer and electronic
products 334 8.1 220.4
50 Electrical equipment,
appliances and
components 335 2.4 97.7
51 Motor vehicles and parts 3361-3 7.1 117.3
52 Aerospace and
miscellaneous
transportation
equipment 3364-9 3.3 87.6
53 Furniture and related
products 337 1.7 101.3
54 Miscellaneous 339 3.1 109.5
55 Nondurable manufacturing 35.9 99.5
56 Food, beverage, and
tobacco products 311,2 11.7 100.2
57 Textile and product mills 313,4 1.3 82.5
58 Apparel and leather 315,6 1.1 72.2
59 Paper 322 3.1 94.4
60 Printing and support 323 2.7 97.8
61 Petroleum and coal
products 324 1.9 102.9
62 Chemical 325 10.2 105.1
63 Plastics and rubber
products 326 3.9 106.0
64 Other manufacturing
(non-NAICS) 1133,5111 5.3 105.5
65 Mining 21 6.0 93.8
66 Utilities 2211,2 9.3 110.2
67 Electric 2211 8.1 111.8
68 Natural gas 2212 1.3 97.5
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors 79.3 99.8
70 Manufacturing excluding motor
vehicles and parts 77.5 110.9
2002
Group June July Aug.
Index (1997 = 100)
MAJOR MARKETS
1 Total IP 110.8 111.6 111.3
Market groups
2 Final products and nonindustrial
supplies 109.6 110.1 109.8
3 Consumer goods 107.8 108.5 107.8
4 Durable 118.6 120.0 119.3
5 Automotive products 127.4 130.6 130.6
6 Home electronics 135.3 137.0 135.4
7 Appliances, furniture,
carpeting 107.5 106.9 104.5
8 Miscellaneous goods 100.2 99.2 98.3
9 Nondurable 104.1 104.6 103.8
10 Non-energy 102.8 102.8 102.4
11 Foods and tobacco 100.2 99.8 99.2
12 Clothing 72.9 73.2 71.3
13 Chemical products 118.3 119.5 119.0
14 Paper products 107.2 107.1 108.4
15 Energy 110.9 114.0 111.6
I6 Business equipment 108.0 107.3 108.1
17 Transit 81.1 80.2 81.1
18 Information processing 154.9 153.5 153.7
19 Industrial and other 92.2 92.0 92.9
20 Defense and space equipment 101.2 101.2 101.9
21 Construction supplies. 104.5 104.4 104.8
22 Business supplies 121.8 123.2 122.6
23 Materials 112.6 113.8 113.6
24 Non energy 116.4 117.2 117.4
25 Durable 128.6 129.4 130.0
26 Consumer parts 110.4 113.4 112.3
27 Equipment parts 183.6 184.2 186.3
28 Other 97.9 97.7 98.3
29 Nondurable 97.6 98.4 98.2
30 Textile 78.5 79.6 77.8
31 Paper 93.6 95.8 96.1
32 Chemical 100.6 101.3 100.7
33 Energy 98.6 101.0 99.3
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 100.8 101.0 101.2
35 Total excluding motor vehicles
and parts 110.3 110.8 110.5
Gross value (billions of
1996 dollars, annual rates)
36 Final products and
nonindustrial supplies 2,811.1 2,829.2 2,822.7
37 Final products 2,029.7 2,043.2 2,039.1
38 Consumer good 1,390.2 1,404.2 1,396.0
39 Equipment total 630.8 628.8 634.6
40 Nonindustrial supplies 781.5 786.1 783.6
INDUSTRY GROUPS
41 Manufacturing 111.9 112.3 112.4
42 Manufacturing (NAICS) 112.2 112.7 112.8
43 Durable manufacturing 121.8 122.2 122.7
44 Wood products 102.2 101.9 102.5
45 Nonmetallic mineral
products 106.6 107.7 108.5
46 Primary metal 86.2 85.0 87.6
47 Fabricated metal products 99.3 99.7 99.3
48 Machinery 88.9 88.4 89.4
49 Computer and electronic
products 220.8 221.5 223.0
50 Electrical equipment,
appliances and
components 98.7 98.4 98.0
51 Motor vehicles and parts 118.6 122.1 122.0
52 Aerospace and
miscellaneous
transportation
equipment 86.9 85.7 86.3
53 Furniture and related
products 101.6 101.4 100.5
54 Miscellaneous 110.7 110.6 110.2
55 Nondurable manufacturing 99.9 100.4 100.0
56 Food, beverage, and
tobacco products 100.9 100.5 100.0
57 Textile and product mills 83.4 83.9 82.5
58 Apparel and leather 72.6 73.0 71.2
59 Paper 94.7 95.2 95.8
60 Printing and support 95.5 98.4 98.6
61 Petroleum and coal
products 102.4 103.0 102.7
62 Chemical 105.7 106.9 106.2
63 Plastics and rubber
products 107.4 107.5 107.3
64 Other manufacturing
(non-NAICS) 105.5 105.0 105.8
65 Mining 93.5 94.4 93.9
66 Utilities 110.1 113.7 110.4
67 Electric 111.4 115.7 112.2
68 Natural gas 103.2 102.7 100.8
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors 100.2 100.6 100.6
70 Manufacturing excluding motor
vehicles and parts 111.3 111.4 111.5
2002
Group Sept. Oct. Nov.
Index (1997 = 100)
MAJOR MARKETS
1 Total IP 111.2 110.6 110.8
Market groups
2 Final products and nonindustrial
supplies 109.8 109.1 109.3
3 Consumer goods 107.9 107.0 107.8
4 Durable 118.7 117.0 121.0
5 Automotive products 129.3 125.9 132.4
6 Home electronics 142.6 140.1 142.1
7 Appliances, furniture,
carpeting 104.6 104.9 107.1
8 Miscellaneous goods 97.8 98.2 98.3
9 Nondurable 104.2 103.6 103.3
10 Non-energy 102.6 102.0 101.3
11 Foods and tobacco 99.1 98.7 97.9
12 Clothing 72.1 70.2 70.6
13 Chemical products 119.5 118.3 118.0
14 Paper products 109.8 110.0 108.8
15 Energy 112.8 111.8 114.0
I6 Business equipment 106.9 106.0 106.1
17 Transit 79.7 77.3 77.9
18 Information processing 152.1 153.1 152.8
19 Industrial and other 92.0 91.2 91.1
20 Defense and space equipment 102.0 102.5 101.7
21 Construction supplies. 104.5 104.2 103.8
22 Business supplies 123.6 123.1 122.5
23 Materials 113.4 112.8 113.1
24 Non energy 117.2 116.7 116.7
25 Durable 129.5 129.5 129.7
26 Consumer parts 112.4 111.7 114.6
27 Equipment parts 185.7 185.7 185.3
28 Other 97.7 98.0 97.2
29 Nondurable 98.3 97.1 97.0
30 Textile 78.4 77.2 77.0
31 Paper 96.7 96.8 96.9
32 Chemical 100.2 98.2 97.9
33 Energy 99.1 98.4 99.4
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 101.2 100.5 100.6
35 Total excluding motor vehicles
and parts 110.5 110.0 109.8
Gross value (billions of
1996 dollars, annual rates)
36 Final products and
nonindustrial supplies 2,818.9 2,794.7 2,817.8
37 Final products 2,032.4 2,011.7 2,037.3
38 Consumer good 1,394.3 1,379.2 1,402.0
39 Equipment total 628.7 623.5 624.4
40 Nonindustrial supplies 786.7 783.3 780.5
INDUSTRY GROUPS
41 Manufacturing 112.1 111.4 111.6
42 Manufacturing (NAICS) 112.4 111.7 112.0
43 Durable manufacturing 122.0 121.5 122.2
44 Wood products 100.7 99.2 98.3
45 Nonmetallic mineral
products 109.9 109.3 110.2
46 Primary metal 85.1 87.6 86.2
47 Fabricated metal products 99.4 99.8 98.7
48 Machinery 88.2 86.8 87.4
49 Computer and electronic
products 223.2 224.2 224.5
50 Electrical equipment,
appliances and
components 96.5 96.6 97.0
51 Motor vehicles and parts 121.1 118.3 123.9
52 Aerospace and
miscellaneous
transportation
equipment 85.7 85.5 84.8
53 Furniture and related
products 101.4 100.7 100.6
54 Miscellaneous 109.1 109.3 108.6
55 Nondurable manufacturing 100.0 99.1 98.9
56 Food, beverage, and
tobacco products 99.9 99.5 98.6
57 Textile and product mills 82.3 81.3 81.7
58 Apparel and leather 71.8 70.2 70.5
59 Paper 96.1 95.7 96.8
60 Printing and support 99.9 99.5 98.4
61 Petroleum and coal
products 101.0 99.4 103.9
62 Chemical 106.1 104.6 104.2
63 Plastics and rubber
products 107.2 106.4 105.8
64 Other manufacturing
(non-NAICS) 107.1 106.7 105.4
65 Mining 92.2 92.3 93.6
66 Utilities 113.3 112.1 112.1
67 Electric 115.8 113.7 113.3
68 Natural gas 99.9 103.6 105.8
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors 100.4 99.7 99.8
70 Manufacturing excluding motor
vehicles and parts 111.3 110.8 110.5
2002 2003
Group Dec. Jan. Feb.
Index (1997 = 100)
MAJOR MARKETS
1 Total IP 109.9 110.7 110.7
Market groups
2 Final products and nonindustrial
supplies 108.2 109.1 109.3
3 Consumer goods 106.6 107.7 107.8
4 Durable 117.8 120.5 118.5
5 Automotive products 125.9 131.3 128.8
6 Home electronics 145.3 152.7 145.9
7 Appliances, furniture,
carpeting 107.7 105.4 105.5
8 Miscellaneous goods 98.7 98.7 96.9
9 Nondurable 102.8 103.4 104.1
10 Non-energy 100.8 101.1 101.6
11 Foods and tobacco 97.4 97.6 97.2
12 Clothing 69.9 69.7 69.1
13 Chemical products 116.9 117.9 120.2
14 Paper products 109.0 108.3 110.2
15 Energy 113.3 115.7 117.2
I6 Business equipment 104.6 105.6 105.9
17 Transit 75.4 75.7 74.5
18 Information processing 152.7 155.1 156.3
19 Industrial and other 89.7 90.4 90.8
20 Defense and space equipment 102.3 104.1 104.8
21 Construction supplies. 102.4 102.3 101.8
22 Business supplies 121.9 122.8 123.7
23 Materials 112.4 113.0 112.8
24 Non energy 115.6 116.0 115.9
25 Durable 128.1 129.1 128.6
26 Consumer parts 111.1 113.8 111.9
27 Equipment parts 184.4 186.0 186.2
28 Other 96.4 96.3 96.3
29 Nondurable 96.5 96.2 96.4
30 Textile 75.3 74.1 74.2
31 Paper 95.8 94.4 93.6
32 Chemical 97.3 98.3 99.2
33 Energy 99.7 100.9 100.8
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 99.8 100.5 100.5
35 Total excluding motor vehicles
and parts 109.3 109.8 110.1
Gross value (billions of
1996 dollars, annual rates)
36 Final products and
nonindustrial supplies 2,783.5 2,808.6 2,807.2
37 Final products 2,010.7 2,032.1 2,028.9
38 Consumer good 1,384.1 1,399.9 1,395.8
39 Equipment total 615.8 620.9 622.5
40 Nonindustrial supplies 772.8 776.4 778.3
INDUSTRY GROUPS
41 Manufacturing 110.6 111.1 111.1
42 Manufacturing (NAICS) 110.8 111.5 111.3
43 Durable manufacturing 120.5 121.9 121.3
44 Wood products 96.9 97.4 96.5
45 Nonmetallic mineral
products 108.0 109.7 108.0
46 Primary metal 84.1 85.0 85.2
47 Fabricated metal products 98.3 97.9 97.1
48 Machinery 85.8 86.7 87.4
49 Computer and electronic
products 224.5 226.6 227.5
50 Electrical equipment,
appliances and
components 96.9 95.7 96.1
51 Motor vehicles and parts 117.8 122.9 120.0
52 Aerospace and
miscellaneous
transportation
equipment 85.2 86.0 85.6
53 Furniture and related
products 98.9 98.8 98.6
54 Miscellaneous 110.0 109.5 109.4
55 Nondurable manufacturing 98.3 98.2 98.5
56 Food, beverage, and
tobacco products 98.3 98.5 98.2
57 Textile and product mills 80.8 78.4 79.2
58 Apparel and leather 69.7 69.7 69.0
59 Paper 95.0 93.0 93.0
60 Printing and support 98.9 99.1 97.7
61 Petroleum and coal
products 105.0 102.0 101.8
62 Chemical 103.4 114.4 106.0
63 Plastics and rubber
products 104.6 104.9 105.3
64 Other manufacturing
(non-NAICS) 105.9 105.3 107.5
65 Mining 95.2 93.6 92.8
66 Utilities 110.5 115.0 116.3
67 Electric 112.2 116.8 118.0
68 Natural gas 101.6 105.4 107.5
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors 98.9 99.3 99.2
70 Manufacturing excluding motor
vehicles and parts 109.9 110.1 110.3
2003
Group Mar. (r) Apr. (r)
Index (1997 = 100)
MAJOR MARKETS
1 Total IP 110.1 109.5
Market groups
2 Final products and nonindustrial
supplies 108.7 108.1
3 Consumer goods 107.2 106.7
4 Durable 117.9 117.0
5 Automotive products 127.4 126.0
6 Home electronics 152.0 155.3
7 Appliances, furniture,
carpeting 105.7 111.5
8 Miscellaneous goods 96.2 95.1
9 Nondurable 103.6 103.1
10 Non-energy 101.7 101.2
1I Foods and tobacco 972.0 969.0
12 Clothing 68.0 66.1
13 Chemical products 120.6 120.6
14 Paper products 1110.0 110.0
15 Energy 113.8 113.6
I6 Business equipment 105.5 104.8
17 Transit 73.9 73.1
18 Information processing 158.0 157.1
19 Industrial and other 89.9 893.0
20 Defense and space equipment 105.2 104.7
21 Construction supplies. 101.4 100.7
22 Business supplies 1225.0 121.4
23 Materials 112.1 111.6
24 Non energy 115.4 114.9
25 Durable 127.6 127.2
26 Consumer parts 111.9 109.8
27 Equipment parts 186.2 186.7
28 Other 95.0 94.6
29 Nondurable 96.7 96.0
30 Textile 73.8 72.7
31 Paper 94.8 93.1
32 Chemical 99.3 99.4
33 Energy 99.2 99.1
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 99.8 99.2
35 Total excluding motor vehicles
and parts 109.5 109.0
Gross value (billions of
1996 dollars, annual rates)
36 Final products and nonindustrial
supplies 2,791.9 2,775.6
37 Final products 2,019.7 2,009.9
38 Consumer good 1,388.6 1,381.7
39 Equipment total 620.9 618.2
40 Nonindustrial supplies 772.0 765.3
INDUSTRY GROUPS
41 Manufacturing 110.9 110.2
42 Manufacturing (NAICS) 111.0 110.3
43 Durable manufacturing 120.5 120.1
44 Wood products 95.9 96.6
45 Nonmetallic mineral
products 108.1 108.0
46 Primary metal 813.0 82.1
47 Fabricated metal products 96.1 95.9
48 Machinery 87.5 87.1
49 Computer and electronic
products 229.3 230.1
50 Electrical equipment,
appliances and
components 95.2 94.4
51 Motor vehicles and parts 118.4 116.8
52 Aerospace and
miscellaneous
transportation
equipment 85.7 95.5
53 Furniture and related
products 97.3 96.7
54 Miscellaneous 108.4 107.1
55 Nondurable manufacturing 98.6 97.8
56 Food, beverage, and
tobacco products 98.2 97.8
57 Textile and product mills 79.7 79.3
58 Apparel and leather 68.0 66.2
59 Paper 94.6 93.3
60 Printing and support 96.3 94.7
61 Petroleum and coal
products 103.8 102.0
62 Chemical 105.8 105.7
63 Plastics and rubber
products 105.6 103.7
64 Other manufacturing
(non-NAICS) 108.1 107.3
65 Mining 92.8 92.9
66 Utilities 111.7 111.8
67 Electric 113.6 113.7
68 Natural gas 101.2 102.1
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors 98.9 98.1
70 Manufacturing excluding motor
vehicles and parts 110.2 109.6
2003
Group May (r) June (p)
Index (1997 = 100)
MAJOR MARKETS
1 Total IP 109.6 109.7
Market groups
2 Final products and nonindustrial
supplies 108.3 108.4
3 Consumer goods 106.5 107.0
4 Durable 116.5 117.1
5 Automotive products 124.5 126.3
6 Home electronics 153.2 156.2
7 Appliances, furniture,
carpeting 107.4 106.6
8 Miscellaneous goods 95.4 95.3
9 Nondurable 103.0 103.4
10 Non-energy 101.1 102.1
1I Foods and tobacco 97.2 98.3
12 Clothing 65.9 64.5
13 Chemical products 119.1 121.0
14 Paper products 110.4 110.2
15 Energy 113.6 110.2
I6 Business equipment 105.2 105.5
17 Transit 73.4 72.4
18 Information processing 157.8 157.6
19 Industrial and other 89.6 90.6
20 Defense and space equipment 105.8 106.2
21 Construction supplies. 101.0 101.0
22 Business supplies 122.1 121.3
23 Materials 111.5 111.5
24 Non-energy 114.7 115.0
25 Durable 127.3 127.5
26 Consumer parts 109.3 109.8
27 Equipment parts 188.8 189.8
28 Other 94.2 94.0
29 Nondurable 956.0 95.8
30 Textile 71.5 71.2
31 Paper 93.6 93.1
32 Chemical 97.2 98.2
33 Energy 99.2 98.5
SPECIAL AGGREGATES
34 Total excluding computers,
communication equipment,
and semiconductors 99.2 99.2
35 Total excluding motor vehicles
and parts 109.1 109.2
Gross value (billions of
1996 dollars, annual rates)
36 Final products and
nonindustrial supplies 2,778.5 2,777.5
37 Final products 2,009.9 2,014.3
38 Consumer good 1,379.1 1,382.8
39 Equipment total 621.6 622.1
40 Nonindustrial supplies 768.5 762.8
INDUSTRY GROUPS
41 Manufacturing 110.3 110.8
42 Manufacturing (NAICS) 110.4 110.9
43 Durable manufacturing 120.2 120.6
44 Wood products 96.5 96.4
45 Nonmetallic mineral
products 108.4 107.7
46 Primary metal 78.9 79.8
47 Fabricated metal products 95.9 95.5
48 Machinery 87.6 87.7
49 Computer and electronic
products 232.7 233.6
50 Electrical equipment,
appliances and
components 95.1 95.5
51 Motor vehicles and parts 115.5 116.9
52 Aerospace and
miscellaneous
transportation
equipment 86.6 86.5
53 Furniture and related
products 97.1 98.1
54 Miscellaneous 107.3 108.5
55 Nondurable manufacturing 97.8 983.0
56 Food, beverage, and
tobacco products 99.2 99.2
57 Textile and product mills 77.5 77.1
58 Apparel and leather 65.9 64.6
59 Paper 93.6 93.1
60 Printing and support 95.5 95.4
61 Petroleum and coal
products 114.1 102.4
62 Chemical 114.2 105.7
63 Plastics and rubber
products 105.4 104.6
64 Other manufacturing
(non-NAICS) 107.9 108.6
65 Mining 93.4 94.4
66 Utilities 111.0 107.1
67 Electric 112.6 108.5
68 Natural gas 102.1 99.9
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors 98.2 98.6
70 Manufacturing excluding motor
vehicles and parts 109.8 110.2
Note. The statistics in the G.17 release cover output. capacity, and
capacity utilization in the industrial sector. which the Federal
Reserve defines are manufacturing, mining, and electric and gas
utilities. Manufacturing consists of those industries included in
the North American Industry Classification System, or NAICS,
manufacturing plus those industries--logging and newspaper, periodical,
book, and directory publishing--that have traditionally been considered
manufacturing and included in the industrial sector.
(1.) Data in this table also appear in the Board's G.17 (419) monthly
statistical release. The data are also available on the Board's web
site http://www.federalreserve.gov/releases/g17. The latest historical
revision of the industrial production index and the capacity
utilization rates was released in December 2002, The recent
annual revision is described in the April 2003 issue of the Bulletin.
(2.) North American Industry Classifications System.
3.10 U.S. INTERNATIONAL TRANSACTIONS Summary
Millions of dollars; quarterly data seasonally adjusted except as
noted (1)
Items credits or debits 2000 2001
1 Balance on current account -411,458 -393,745
2 Balance on goods and services -375,384 -357,819
3 Exports 1,070,054 1,007,580
4 Imports -1,445,438 -1,365,399
5 Income, net 19,605 10,689
6 Investment, net 24,191 15,701
7 Direct 94,929 106,485
8 Portfolio -70,738 -90,784
9 Compensation of employees -4,586 -5,012
10 Unilateral current transfers, net -55,679 -46,615
11 Change in U.S. government assets
other than official reserve
assets, net (increase, -) -941 -486
12 Change in U.S. official reserve
assets (increase, -) -290 -4,911
13 Gold 0 0
14 Special drawing rights (SDRs) -722 -630
15 Reserve Position in International
Monetary Fund 2,308 -3,600
16 Foreign currencies -1,876 -681
17 Change in U.S. private assets
abroad (increase, -) -568,567 -344,542
18 Bank-reported claims (2) -148,657 -134,945
19 Nonbank-reported claims -138,790 -4,997
20 U.S. purchase of foreign
securities net -121,908 -84,637
21 U.S. direct investments abroad,
net -159,212 -119,963
22 Change in foreign official assets
in United States (increase, ) 37,724 5,104
23 U.S. Treasury securities -10,233 10,745
24 Other U.S. government obligations 40,909 20,920
25 Other U.S. government liabilities
(2) -1,825 -2,309
26 Other U.S. liabilities retained
by U.S. banks (2) 5,746 -29,978
27 Other foreign official assets (3) 3,127 5,726
28 Change in foreign private assets in
United States (increase, ) 988,415 760,427
29 U.S. bank-reported liabilities (4) 116,971 118,379
30 U.S. nonbank-reported liabilities 170,672 67,489
31 Foreign private purchases of U.S.
Treasury securities, net -76,949 -7,438
32 U.S. currency flows 1,129 23,783
33 Foreign purchases of other U.S.
securities, net 455,318 406,633
34 Foreign direct investments in
United States, net 321,174 151,581
35 Capital account transactions, net
(5) -799 -1,062
36 Discrepancy -44,084 -20,785
37 Due to seasonal adjustment ... ...
38 Before seasonal adjustment 44,084 -20,785
Memo
Changes in official assets
39 U.S. official reserve assets
(increase, -) -290 -4,911
40 Foreign official assets in United
States excluding line 25
(increase, ) 39,549 7,413
41 Change in Organization of Petroleum
Exporting Countries official
assets in United States (part
of line 22) 12,000 -1,725
2002
Items credits or debits 2002 Q1
1 Balance on current account 480,861 -106,728
2 Balance on goods and services -418,038 -90,057
3 Exports 974,107 236,442
4 Imports -1,392,145 -326,499
5 Income, net -3,970 -733
6 Investment, net 1,271 550
7 Direct 93,475 23,924
8 Portfolio -92,204 -23,374
9 Compensation of employees -5,241 -1,283
10 Unilateral current transfers, net -58,853 -15,938
11 Change in U.S. government assets
other than official reserve
assets, net (increase, -) -32 133
12 Change in U.S. official reserve
assets (increase, -) -3,681 390
13 Gold 0 0
14 Special drawing rights (SDRs) -475 -109
15 Reserve Position in International
Monetary Fund -2,632 652
16 Foreign currencies -574 -153
17 Change in U.S. private assets
abroad (increase, -) -175,272 -35,750
18 Bank-reported claims (2) -21,357 -148
19 Nonbank-reported claims -31,880 -1,886
20 U.S. purchase of foreign
securities net 15,801 5,367
21 U.S. direct investments abroad,
net -137,836 -39,083
22 Change in foreign official assets
in United States (increase, ) 94,860 6,106
23 U.S. Treasury securities 43,144 -1,039
24 Other U.S. government obligations 30,377 7,296
25 Other U.S. government liabilities
(2) 137 -597
26 Other U.S. liabilities retained
by U.S. banks (2) 17,594 -280
27 Other foreign official assets (3) 3,608 726
28 Change in foreign private assets in
United States (increase, ) 612,123 140,707
29 U.S. bank-reported liabilities (4) 91,126 -7,446
30 U.S. nonbank-reported liabilities 72,142 46,771
31 Foreign private purchases of U.S.
Treasury securities, net 96,217 11,789
32 U.S. currency flows 21,513 4,525
33 Foreign purchases of other U.S.
securities, net 291,492 74,461
34 Foreign direct investments in
United States, net 39,633 10,607
35 Capital account transactions, net
(5) -1,285 -277
36 Discrepancy -45,852 -4,581
37 Due to seasonal adjustment ... 8,579
38 Before seasonal adjustment -45,852 -13,160
Memo
Changes in official assets
39 U.S. official reserve assets
(increase, -) -3,681 390
40 Foreign official assets in United
States excluding line 25
(increase, ) 94,723 6,703
41 Change in Organization of Petroleum
Exporting Countries official
assets in United States (part
of line 22) -8,132 -8,532
2002
Items credits or debits Q2 Q3
1 Balance on current account -122,827 -122,724
2 Balance on goods and services -104,888 -106,980
3 Exports 243,696 247,815
4 Imports -348,584 -354,795
5 Income, net -4,458 -1,747
6 Investment, net -3,106 -481
7 Direct 21,410 21,914
8 Portfolio -24,516 -22,395
9 Compensation of employees -1,352 -1,266
10 Unilateral current transfers, net -13,481 -13,997
11 Change in U.S. government assets
other than official reserve
assets, net (increase, -) 42 -27
12 Change in U.S. official reserve
assets (increase, -) -1,843 -1,416
13 Gold 0 0
14 Special drawing rights (SDRs) -107 -132
15 Reserve Position in International
Monetary Fund -1,607 -1,136
16 Foreign currencies -129 -148
17 Change in U.S. private assets
abroad (increase, -) -126,766 31,155
18 Bank-reported claims (2) -69,254 52,999
19 Nonbank-reported claims -16,210 -11,862
20 U.S. purchase of foreign
securities net -5,843 21,641
21 U.S. direct investments abroad,
net -35,459 -31,623
22 Change in foreign official assets
in United States (increase, ) 47,552 8,992
23 U.S. Treasury securities 15,138 1,415
24 Other U.S. government obligations 6,568 10,885
25 Other U.S. government liabilities
(2) 365 464
26 Other U.S. liabilities retained
by U.S. banks (2) 24,575 -4,607
27 Other foreign official assets (3) 906 835
28 Change in foreign private assets in
United States (increase, ) 173,690 132,486
29 U.S. bank-reported liabilities (4) 23,948 20,448
30 U.S. nonbank-reported liabilities 24,610 -8,102
31 Foreign private purchases of U.S.
Treasury securities, net 14,218 57,505
32 U.S. currency flows 7,183 2,556
33 Foreign purchases of other U.S.
securities, net 104,187 45,880
34 Foreign direct investments in
United States, net -456 14,199
35 Capital account transactions, net
(5) -286 -364
36 Discrepancy 30,438 -18,102
37 Due to seasonal adjustment 2,091 -12,409
38 Before seasonal adjustment 28,347 -35,693
Memo
Changes in official assets
39 U.S. official reserve assets
(increase, -) -1,843 -1,416
40 Foreign official assets in United
States excluding line 25
(increase, ) 47,187 8,528
41 Change in Organization of Petroleum
Exporting Countries official
assets in United States (part
of line 22) 838 -1,289
2002 2003
Items credits or debits Q4 Q1 (p)
1 Balance on current account -128,586 -136,112
2 Balance on goods and services -116,116 -121,567
3 Exports 246,151 247,848
4 Imports -362,267 -369,415
5 Income, net 2,966 2,571
6 Investment, net 4,306 3,942
7 Direct 26,225 24,477
8 Portfolio -21,919 -20,535
9 Compensation of employees -1,340 -1,371
10 Unilateral current transfers, net -15,436 -17,116
11 Change in U.S. government assets
other than official reserve
assets, net (increase, -) -180 37
12 Change in U.S. official reserve
assets (increase, -) -812 83
13 Gold 0 0
14 Special drawing rights (SDRs) -127 897
15 Reserve Position in International
Monetary Fund -541 -644
16 Foreign currencies -144 -170
17 Change in U.S. private assets
abroad (increase, -) -43,910 -76,017
18 Bank-reported claims (2) -4,954 -24,392
19 Nonbank-reported claims -1,922 3,134
20 U.S. purchase of foreign
securities net -5,364 -25,785
21 U.S. direct investments abroad,
net -3,1670 -28,974
22 Change in foreign official assets
in United States (increase, ) 32,210 35,870
23 U.S. Treasury securities 27,630 18,099
24 Other U.S. government obligations 5,628 9,380
25 Other U.S. government liabilities
(2) -95 -694
26 Other U.S. liabilities retained
by U.S. banks (2) -2,094 7,759
27 Other foreign official assets (3) 1,141 1,326
28 Change in foreign private assets in
United States (increase, ) 165,238 152,782
29 U.S. bank-reported liabilities (4) 54,176 25,003
30 U.S. nonbank-reported liabilities 8,863 32,636
31 Foreign private purchases of U.S.
Treasury securities, net 12,705 13,487
32 U.S. currency flows 7,249 4,927
33 Foreign purchases of other U.S.
securities, net 66,964 50,944
34 Foreign direct investments in
United States, net 15,281 25,785
35 Capital account transactions, net
(5) -358 -340
36 Discrepancy -23,602 23,697
37 Due to seasonal adjustment 1,744 8,916
38 Before seasonal adjustment -25,346 14,781
Memo
Changes in official assets
39 U.S. official reserve assets
(increase, -) -812 83
40 Foreign official assets in United
States excluding line 25
(increase, ) 32,305 36,564
41 Change in Organization of Petroleum
Exporting Countries official
assets in United States (part
of line 22) 851 ...
(1) Seasonal factors are not calculated for lines 11-16, 18-20, 22-35,
and 38-41.
(2.) Associated primarily with military sales contracts and other
transactions arranged with or through foreign official agencies.
(3.) Consists of investments in U.S. corporate stocks and in debt
securities of private corporations and state and local governments.
(4.) Reporting banks included all types of depository institutions as
well as some brokers and dealers.
(5.) Consists of capital transfers (such as those of accompanying
migrants entering or leaving the country and debt forgiveness) and the
acquisition and disposal of nonproduced nonfinancial assets.
SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis,
Survey of Current Business.
3.12 U.S. RESERVE ASSETS
Millions of dollars, end of period
Asset 1999 2000 2001
1 Total 71,516 67,647 68,654
2 Gold stocks (1) 11,048 11,146 11,045
3 Special drawing rights (2,3) 10,336 10,539 10,774
4 Reserve position in International
Monetary Fund (2) 17,950 14,824 17,854
5 Foreign currencies (4) 32,182 31,238 28,981
2002 2003
Asset Dec. Jan. Feb.
1 Total 79,006 78,434 78,579
2 Gold stocks (1) 11,043 11,043 11,043
3 Special drawing rights (2,3) 12,166 11,298 11,368
4 Reserve position in International
Monetary Fund (2) 21,979 21,953 21,686
5 Foreign currencies (4) 33,818 34,140 34,482
2003
Asset Mar. Apr. May
1 Total 80,049 80,405 82,287
2 Gold stocks (1) 11,043 11,043 11,044
3 Special drawing rights (2,3) 11,392 11,476 11,880
4 Reserve position in International
Monetary Fund (2) 22,858 22,738 23,214
5 Foreign currencies (4) 34,756 35,148 36,149
2003
Asset June July (p)
1 Total 81,660 80,621
2 Gold stocks (1) 11,044 11,044
3 Special drawing rights (2,3) 11,720 11,646
4 Reserve position in International
Monetary Fund (2) 23,210 22,746
5 Foreign currencies (4) 35,686 35,185
(1.) Gold held "under earmark" at Federal Reserve Banks for foreign
and international accounts is not included in the gold stock of the
United States; see table 3.13, line 3. Gold stock is valued at $42.22
per fine troy ounce.
(2.) Special drawing rights (SDRs) are valued according to a technique
adopted by the International Monetary Fund (IMF) in July 1974. Values
are based on a weighted average of exchange rates for the currencies of
member countries. From July 1974 through December 1980, sixteen
currencies were used; since January 1981, five currencies have been
used. U.S. SDR holdings and reserve positions in the IMF also have been
valued on this basis since July 1974.
(3.) Includes allocations of SDRs by the International Monetary Fund on
Jan. 1 of the year indicated, as follows: 1970--$867 million;
1971--$717 million; 1972--$710 million; 1979--$1,139 million;
1980--$1,152 million; 1981--$1,093 million; plus net transactions in
SDRs.
(4.) Valued at current market exchange rates.
3.13 FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS (1)
Millions of dollars, end of period
2002
Asset 1999 2000 2001 Dec.
1 Deposits 71 215 61 136
Held in custody
2 U.S.Treasury securities (2) 632,482 594,094 592,630 678,106
3 Earmarked gold (3) 9,933 9,451 9,099 9,045
2003
Asset Jan. Feb. Mar. Apr.
1 Deposits 102 224 254 313
Held in custody
2 U.S.Treasury securities (2) 683,837 700,341 710,955 702,041
3 Earmarked gold (3) 9,045 9,045 9,045 9,040
2003
Asset May June July (p)
1 Deposits 79 898 318
Held in custody
2 U.S.Treasury securities (2) 727,142 747,089 743,308
3 Earmarked gold (3) 9,031 9,004 9,004
(1.) Excludes deposits and U.S. Treasury securities held for
international and regional organizations.
(2.) Marketable U.S. Treasury bills, notes, and bonds and nonmarketable
U.S. Treasury securities, in each case measured at face (not market)
value.
(3.) Held in foreign and international accounts and valued at $42.22
per fine troy ounce; not included in the gold stock of the United
States.
3.15 SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
Item 2000 2001
1 Total (1) 975,303 987,567
By type
2 Liabilities reported by banks in the
United States (2) 144,593 123,425
3 U.S. Treasury bills and certificates (3) 153,010 161,719
U.S. Treasury bonds and notes
4 Marketable 450,832 454,306
5 Nonmarketable (4) 5,348 3,411
6 U.S. securities other than U.S.
Treasury securities (5) 221,520 244,706
By area
7 Europe (1) 240,325 243,448
8 Canada 13,727 13,440
9 Latin America and Caribbean 70,442 71,103
10 Asia 626,016 635,179
11 Africa 14,690 15,167
12 Other countries 10,101 9,228
2002
Item Nov. (r) Dec. (r)
1 Total (1) 1,066,749 1,078,219
By type
2 Liabilities reported by banks in the
United States (2) 141,657 144,080
3 U.S. Treasury bills and certificates (3) 190,111 190,375
U.S. Treasury bonds and notes
4 Marketable 458,592 464,115
5 Nonmarketable (4) 3,097 2,769
6 U.S. securities other than U.S.
Treasury securities (5) 273,292 276,880
By area
7 Europe (1) 265,229 271,250
8 Canada 11,016 11,120
9 Latin America and Caribbean 62,780 63,022
10 Asia 699,012 704,126
11 Africa 15,602 15,338
12 Other countries 13,108 13,361
2003
Item Jan. (r) Feb. (r)
1 Total (1) 1,083,965 1,107,987
By type
2 Liabilities reported by banks in the
United States (2) 140,071 151,605
3 U.S. Treasury bills and certificates (3) 194,762 196,344
U.S. Treasury bonds and notes
4 Marketable 464,427 469,250
5 Nonmarketable (4) 2,786 2,803
6 U.S. securities other than U.S.
Treasury securities (5) 281,919 287,985
By area
7 Europe (1) 269,290 281,471
8 Canada 10,496 9,837
9 Latin America and Caribbean 61,794 62,998
10 Asia 715,996 725,120
11 Africa 14,589 15,939
12 Other countries 11,789 12,620
2003
Item Mar. (r) Apr (r)
1 Total (1) 1,116,171 1,114,677
By type
2 Liabilities reported by banks in the
United States (2) 148,939 150,701
3 U.S. Treasury bills and certificates (3) 206,153 200,462
U.S. Treasury bonds and notes
4 Marketable 470,572 469,762
5 Nonmarketable (4) 2,821 2,839
6 U.S. securities other than U.S.
Treasury securities (5) 287,686 290,913
By area
7 Europe (1) 276,924 273,251
8 Canada 9,854 9,746
9 Latin America and Caribbean 62,743 62,909
10 Asia 740,595 740,302
11 Africa 15,215 15,834
12 Other countries 10,838 12,633
2003
Item May (p)
1 Total (1) 1,164,664
By type
2 Liabilities reported by banks in the
United States (2) 174,748
3 U.S. Treasury bills and certificates (3) 210,033
U.S. Treasury bonds and notes
4 Marketable 483,437
5 Nonmarketable (4) 2,857
6 U.S. securities other than U.S.
Treasury securities (5) 293,589
By area
7 Europe (1) 287,281
8 Canada 9,942
9 Latin America and Caribbean 65,355
10 Asia 774,805
11 Africa 15,656
12 Other countries 11,623
(1.) Includes the Bank for International Settlements.
(2.) Principally demand deposits, time deposits, bankers
acceptances, commercial paper, negotiable time certificates
of deposit, and borrowings under repurchase agreements.
(3.) Includes nonmarketable certificates of indebtedness
and Treasury bills issued to official institutions of
foreign countries.
(4.) Excludes notes issued to foreign official nonreserve
agencies. Includes current value of zero-coupon Treasury
bond issues to foreign governments as follows: Mexico,
beginning March 1990, 30-year maturity issue; Argentina,
beginning April 1993, 30-year maturity issue.
(5.) Debt securities of U.S. government corporations and
federally sponsored agencies, and U.S. corporate stocks
and bonds.
SOURCE. Based on U.S. Department of the Treasury data
and on data reported to the Treasury by banks (including
Federal Reserve Banks) and securities dealers in the United
States, and in the periodic benchmark surveys of foreign
portfolio investment in the United States.
3.16 LIABILITIES TO, AND CLAIMS ON, FOREIGNERS Reported by Banks in
the United States (1)
Payable in Foreign Currencies
Millions of dollars, end of period
Item 1999 2000 2001
1 Banks' own liabilities 88,537 77,779 79,363
2 Deposits n.a. n.a. n.a.
3 Other liabilities n.a. n.a. n.a.
4 Banks' own claims 67,365 56,912 74,640
5 Deposits 34,426 23,315 44,094
6 Other claims 32,939 33,597 30,546
7 Claims of banks' domestic customers (2) 20,826 24,411 17,631
8 Deposits n.a. n.a. n.a.
9 Other claims n.a. n.a. n.a.
2002
Item June Sept. Dec.
1 Bunks' own liabilities 89,823 81,719 80,543
2 Deposits n.a. n.a. n.a.
3 Other liabilities n.a. n.a. n.a.
4 Banks' own claims 90,609 82,647 71,724
5 Deposits 56,221 47,779 34,287
6 Other claims 34,388 34,868 37,437
7 Claims of banks' domestic customers (2) 15,848 20,475 33,659
8 Deposits n.a. n.a. n.a.
9 Other claims n.a. n.a. n.a.
2003
Item Mar.
1 Bunks' own liabilities 88,583
2 Deposits 50,582
3 Other liabilities 38,001
4 Banks' own claims 81,242
5 Deposits 54,194
6 Other claims 27,048
7 Claims of banks' domestic customers (2) 27,706
8 Deposits 5,065
9 Other claims 22,641
(1.) Data on claims exclude foreign currencies held by U.S.
monetary authorities.
(2.) Assets owned by customers of the reporting bank located
in the United States that represent claims on foreigners
held by reporting banks for the accounts of the domestic
customers.
3.7 LIABILITIES TO FOREIGNERS Reported by Banks in the United
States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Item 2000 2001
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,511,410 1,636,538
2 Banks own liabilities 1,077,636 1,181,097
By type of liability
3 Deposits (2) 221,248 191,742
4 Other 171,401 197,064
5 Of which: repurchase
agreement (3) 0 151,143
6 Banks' custody
liabilities (4) 433,774 455,441
By type of liability
7 U.S. Treasury bills and
certificates (5) 177,846 186,115
8 Other negotiable and
readily
transferable
instruments (6) 145,840 139,807
9 Of which, negotiable
time certificates
of deposit held
in custody for
foreigners 34,217 20,440
10 Of which: short-term
agency
securities (7) 0 59,781
11 Other 110,088 129,519
12 Nonmonetary international and
regional organizations
(8) 12,543 10,830
13 Banks own liabilities 12,140 10,169
14 Deposits (2) 6,287 3,791
15 Other 5,853 6,378
16 Banks' custody liabilities
(4) 403 661
17 U.S. Treasury bills and
certificates (5) 252 600
18 Other negotiable and
readily transferable
instruments (6) 149 61
19 Other 2 0
20 Official institutions (9) 297,603 285,144
21 Banks' own liabilities 96,989 83,824
22 Deposits (2) 39,525 22,668
23 Other 57,464 61,156
24 Bank, custody liabilities
(4) 200,614 201,320
25 U.S. Treasury bills and
certificates (5) 153,010 161,719
26 Other negotiable and
readily transferable
instruments (6) 47,366 38,531
27 Other 238 1,070
28 Banks (10) 972,932 1,053,084
29 Banks' own liabilities 821,306 914,492
30 Deposits (2) 82,426 68,656
31 Other 53,893 53,545
32 Banks' custody liabilities
(4) 151,626 138,592
33 U.S. Treasury bills and
certificates (5) 16,023 11,541
34 Other negotiable and
readily transferable
instruments (6) 36,036 24,059
35 Other 99,567 102,992
36 Other foreigners (11) 228,332 287,48
37 Banks' own liabilities 147,201 172,612
38 Deposits (2) 93,010 96,627
39 Other 54,191 75,985
40 Banks' custodial
liabilities 81,131 114,868
41 U.S. Treasury bills and
certificates (5) 8,561 12,255
42 Other negotiable and
readily transferable
instruments (6) 62,289 77,156
43 Other 10,281 25,457
MEMO
44 Own foreign offices (12) 684,987 792,291
AREA OR COUNTRY
45 Total, all foreigners 1,511,410 1,636,538
46 Foreign countries 1,498,867 1,625,708
47 Europe 446,788 521,331
48 Austria 2,692 2,922
49 Belgium (13) 33,399 6,557
50 Denmark 3,000 3,626
51 Finland 1,411 1,446
52 France 37,833 49,056
53 Germany 35,519 22,375
54 Greece 2,011 2,307
55 Italy 5,072 6,354
56 Luxembourg (13) 0 16,894
57 Netherlands 7,047 12,411
58 Norway 2,305 3,727
59 Portugal 2,403 4,033
60 Russia 19,018 20,800
61 Spain 7,787 8,811
62 Sweden 6,497 3,375
63 Switzerland 74,635 66,403
64 Turkey 7,548 7,474
65 United Kingdom 167,757 204,396
66 Channel Islands and Isle
of Man (14) 0 36,059
67 Yugoslavia (15) 276 309
68 Other Europe and other
former U.S.S.R. (16) 30,578 41,996
69 Canada 30,982 27,251
70 Latin America 120,141 118,025
71 Argentina 14,451 10,704
72 Brazil 10,852 14,169
73 Chile 5,892 4,939
74 Colombia 4,542 4,695
75 Ecuador 2,112 2,390
76 Guatemala 1,601 1,882
77 Mexico 32,166 39,871
78 Panama 4,240 3,610
79 Peru 1,427 1,359
80 Uruguay 3,003 3,172
81 Venezuela 24,730 24,974
82 Other Latin America (17) 10,025 6,260
83 Caribbean 573,337 194,814
84 Bahamas 189,298 178,472
85 Bermuda 9,636 10,539
86 British West Indies (18) 367,197 0
87 Cayman Islands (18) 0 440,038
88 Cuba 90 88
89 Jamaica 794 1,182
90 Netherlands Antilles 5,428 3,264
91 Trinidad and Tobago 894 1,269
92 Other Caribbean (17) 0 12,135
93 Asia 305,554 294,496
China
94 Mainland 16,531 10,498
95 Taiwan 17,352 17,633
96 Hong Kong 26,462 26,494
97 India 4,530 3,708
98 Indonesia 8,514 12,383
99 Israel 8,053 7,870
100 Japan 150,415 155,314
101 Korea (South) 7,955 9,019
102 Philippines 2,316 1,772
103 Thailand 3,117 4,743
104 Middle Eastern oil-
exporting countries
(19) 23,763 20,035
105 Other 36,546 25,027
106 Africa 10,824 11,365
107 Egypt 2,621 2,778
108 Morocco 139 274
109 South Africa 1,010 839
110 Congo (formerly Zaire) 4 4
111 Oil-exporting countries
(20) 4,052 4,377
112 Other 2,998 3,093
113 Other countries 11,341 6,253
114 Australia 10,070 5,599
115 New Zealand (21) 0 242
116 All other 1,271 412
117 Nonmonetary international
and regional organizations 12,543 10,830
118 International (22) 11,270 9,331
119 Latin American regional
(23) 740 480
120 Other regional (24) 533 935
Item 2002 (r) Nov. (r)
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,832,746 1,789,929
2 Banks own liabilities 1,288,991 1,256,437
By type of liability
3 Deposits (2) 175,120 169,194
4 Other 246,568 252,869
5 Of which: repurchase
agreement (3) 190,134 190,283
6 Banks' custody
liabilities (4) 543,755 533,492
By type of liability
7 U.S. Treasury bills and
certificates (5) 229,827 226,571
8 Other negotiable and
readily
transferable
instruments (6) 163,091 155,862
9 Of which, negotiable
time certificates
of deposit held
in custody for
foreigners 25,821 26,100
10 Of which: short-term
agency
securities (7) 72,731 65,927
11 Other 150,837 151,059
12 Nonmonetary international and
regional organizations
(8) 13,467 12,219
13 Banks own liabilities 12,362 11,443
14 Deposits (2) 5,769 5,245
15 Other 6,593 6,198
16 Banks' custody liabilities
(4) 1,105 776
17 U.S. Treasury bills and
certificates (5) 1,089 760
18 Other negotiable and
readily transferable
instruments (6) 16 16
19 Other 0 0
20 Official institutions (9) 334,455 331,768
21 Banks' own liabilities 93,884 96,719
22 Deposits (2) 20,733 17,754
23 Other 73,151 78,965
24 Bank, custody liabilities
(4) 240,571 235,049
25 U.S. Treasury bills and
certificates (5) 190,375 190,111
26 Other negotiable and
readily transferable
instruments (6) 50,132 44,137
27 Other 64 801
28 Banks (10) 1,176,534 1,138,254
29 Banks' own liabilities 981,645 945,091
30 Deposits (2) 56,020 54,716
31 Other 58,422 56,011
32 Banks' custody liabilities
(4) 194,889 193,163
33 U.S. Treasury bills and
certificates (5) 21,311 18,888
34 Other negotiable and
readily transferable
instruments (6) 46,770 47,835
35 Other 126,808 126,440
36 Other foreigners (11) 308,290 307,688
37 Banks' own liabilities 201,100 203,184
38 Deposits (2) 92,698 91,479
39 Other 108,402 111,705
40 Banks' custodial
liabilities 107,190 104,504
41 U.S. Treasury bills and
certificates (5) 17,052 16,812
42 Other negotiable and
readily transferable
instruments (6) 66,173 63,874
43 Other 23,965 23,818
MEMO
44 Own foreign offices (12) 867,203 834,374
AREA OR COUNTRY
45 Total, all foreigners 1,832,746 (r) 1,789,929 (r)
46 Foreign countries 1,819,279 (r) 1,777,710 (r)
47 Europe 627,537 (r) 615,355 (r)
48 Austria 2,473 2,442
49 Belgium (13) 8,610 8,031
50 Denmark 4,880 3,339
51 Finland 1,693 2,646
52 France 39,636 40,748
53 Germany 34,394 32,021
54 Greece 2,975 3,348
55 Italy 4,826 5,642
56 Luxembourg (13) 28,623 27,744
57 Netherlands 10,705 7,907
58 Norway 18,867 14,677
59 Portugal 3,574 3,091
60 Russia 23,147 25,444
61 Spain 14,030 15,574
62 Sweden 4,654 3,857
63 Switzerland 131,489 141,175
64 Turkey 12,130 11,748
65 United Kingdom 181,840 (r) 182,059 (r)
66 Channel Islands and Isle
of Man (14) 45,728 38,935
67 Yugoslavia (15) 301 332
68 Other Europe and other
former U.S.S.R. (16) 52,962 44,595
69 Canada 24,955 (r) 24,274 (r)
70 Latin America 107,042 (r) 103,904 (r)
71 Argentina 11,218 (r) 11,644 (r)
72 Brazil 10,037 10,275
73 Chile 6,064 5,360
74 Colombia 4,158 4,644
75 Ecuador 2,299 2,252
76 Guatemala 1,381 1,386
77 Mexico 36,149 (r) 32,612 (r)
78 Panama 3,845 (r) 3,589 (r)
79 Peru 1,363 1,360
80 Uruguay 2,806 2,603
81 Venezuela 21,883 22,310
82 Other Latin America (17) 5,839 5,869
83 Caribbean 194,158 (r) 179,396 (r)
84 Bahamas 163,052 (r) 145,689 (r)
85 Bermuda 23,780 (r) 25,747 (r)
86 British West Indies (18) 0 0
87 Cayman Islands (18) 512,570 (r) 503,087 (r)
88 Cuba 91 94
89 Jamaica 829 828
90 Netherlands Antilles 5,001 5,458
91 Trinidad and Tobago 1,405 1,580
92 Other Caribbean (17) 11,341 11,487 (r)
93 Asia 318,048 (r) 316,513 (r)
China
94 Mainland 15,504 14,488
95 Taiwan 18,625 (r) 23,547 (r)
96 Hong Kong 33,032 (r) 31,332 (r)
97 India 7,951 (r) 7,507
98 Indonesia 14,109 12,915
99 Israel 7,231 (r) 8,932 (r)
100 Japan 161,329 (r) 163,979 (r)
101 Korea (South) 8,932 6,548
102 Philippines 1,793 1,462
103 Thailand 7,605 8,698
104 Middle Eastern oil-
exporting countries
(19) 16,364 11,633
105 Other 25,573 25,472
106 Africa 12,240 11,989
107 Egypt 2,652 2,493
108 Morocco 306 254
109 South Africa 1,114 701
110 Congo (formerly Zaire) 2 2
111 Oil-exporting countries
(20) 4,370 4,983
112 Other 3,796 3,556
113 Other countries 11,388 11,705
114 Australia 9,332 9,339
115 New Zealand (21) 1,796 2,120
116 All other 260 246
117 Nonmonetary international
and regional organizations 13,467 12,219
118 International (22) 11,282 10,246
119 Latin American regional
(23) 507 477
120 Other regional (24) 1,611 1,423
2002 2003
Item Dec. (r) Jan. (r)
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,832,746 1,782,342
2 Banks own liabilities 1,288,991 1,239,613
By type of liability
3 Deposits (2) 175,220 169,503
4 Other 246,568 267,627
5 Of which: repurchase
agreement (3) 190,134 208,959
6 Banks' custody
liabilities (4) 543,755 542,729
By type of liability
7 U.S. Treasury bills and
certificates (5) 229,827 231,872
8 Other negotiable and
readily
transferable
instruments (6) 163,091 160,148
9 Of which, negotiable
time certificates
of deposit held
in custody for
foreigners 25,821 25,448
10 Of which: short-term
agency
securities (7) 72,731 67,427
11 Other 150,837 150,709
12 Nonmonetary international and
regional organizations
(8) 13,467 14,624
13 Banks own liabilities 12,362 13,921
14 Deposits (2) 5,769 5,298
15 Other 6,593 8,623
16 Banks' custody liabilities
(4) 1,105 703
17 U.S. Treasury bills and
certificates (5) 1,089 687
18 Other negotiable and
readily transferable
instruments (6) 16 16
19 Other 0 0
20 Official institutions (9) 334,455 334,833
21 Banks' own liabilities 93,884 93,790
22 Deposits (2) 20,733 17,378
23 Other 73,151 76,412
24 Bank, custody liabilities
(4) 240,571 241,043
25 U.S. Treasury bills and
certificates (5) 190,375 194,762
26 Other negotiable and
readily transferable
instruments (6) 50,132 45,285
27 Other 64 996
28 Banks (10) 1,176,534 1,116,543
29 Banks' own liabilities 981,645 921,792
30 Deposits (2) 56,020 53,156
31 Other 58,422 66,153
32 Banks' custody liabilities
(4) 194,889 194,751
33 U.S. Treasury bills and
certificates (5) 21,311 20,244
34 Other negotiable and
readily transferable
instruments (6) 46,770 48,614
35 Other 126,808 125,893
36 Other foreigners (11) 308,290 316,342
37 Banks' own liabilities 201,100 210,110
38 Deposits (2) 92,698 93,671
39 Other 108,402 116,439
40 Banks' custodial
liabilities 107,190 106,232
41 U.S. Treasury bills and
certificates (5) 17,052 16,179
42 Other negotiable and
readily transferable
instruments (6) 66,173 66,233
43 Other 23,965 23,820
MEMO
44 Own foreign offices (12) 867,203 802,483
AREA OR COUNTRY
45 Total, all foreigners 1,832,746 (r) 1,782,342 (r)
46 Foreign countries 1,819,279 (r) 1,767,718 (r)
47 Europe 627,537 (r) 560,622 (r)
48 Austria 2,473 2,186
49 Belgium (13) 8,610 4,668 (r)
50 Denmark 4,880 6,497
51 Finland 1,693 2,583
52 France 39,636 36,731
53 Germany 34,394 31,977 (r)
54 Greece 2,975 3,205
55 Italy 4,826 4,421
56 Luxembourg (13) 28,623 30,538
57 Netherlands 10,705 10,550 (r)
58 Norway 18,867 17,723
59 Portugal 3,574 3,448
60 Russia 23,147 24,378
61 Spain 14,030 14,849 (r)
62 Sweden 4,654 3,767
63 Switzerland 131,489 105,350
64 Turkey 12,130 12,754
65 United Kingdom 181,840 (r) 168,426 (r)
66 Channel Islands and Isle
of Man (14) 45,728 26,327
67 Yugoslavia (15) 301 353
68 Other Europe and other
former U.S.S.R. (16) 52,962 49,891
69 Canada 24,955 (r) 27,880
70 Latin America 107,042 (r) 106,106 (r)
71 Argentina 11,218 (r) 11,253 (r)
72 Brazil 10,037 10,586
73 Chile 6,064 5,591
74 Colombia 4,158 4,147
75 Ecuador 2,299 2,397
76 Guatemala 1,381 1,436
77 Mexico 36,149 (r) 36,888 (r)
78 Panama 3,845 (r) 3,972 (r)
79 Peru 1,363 1,364
80 Uruguay 2,806 2,681
81 Venezuela 21,883 19,951
82 Other Latin America (17) 5,839 5,840
83 Caribbean 194,158 (r) 206,063 (r)
84 Bahamas 163,052 (r) 169,978 (r)
85 Bermuda 23,780 (r) 27,421 (r)
86 British West Indies (18) 0 0
87 Cayman Islands (18) 512,570 (r) 516,117 (r)
88 Cuba 91 93
89 Jamaica 829 883
90 Netherlands Antilles 5,001 6,329
91 Trinidad and Tobago 1,405 1,359
92 Other Caribbean (17) 11,341 11,057
93 Asia 318,048 (r) 318,865 (r)
China
94 Mainland 11,504 13,544
95 Taiwan 18,625 (r) 22,147
96 Hong Kong 33,032 (r) 36,777
97 India 7,951 (r) 8,074
98 Indonesia 14,109 12,858
99 Israel 7,231 (r) 9,638
100 Japan 161,329 (r) 162,110
101 Korea (South) 8,932 7,410
102 Philippines 1,793 1,364
103 Thailand 7,605 6,666
104 Middle Eastern oil-
exporting countries
(19) 16,364 15,176
105 Other 25,573 23,101
106 Africa 12,240 11,177 (r)
107 Egypt 2,652 2,494
108 Morocco 306 259
109 South Africa 1,114 725
110 Congo (formerly Zaire) 2 3
111 Oil-exporting countries
(20) 4,370 4,126
112 Other 3,796 3,570
113 Other countries 11,388 9,831
114 Australia 9,332 8,237
115 New Zealand (21) 1,796 1,320
116 All other 260 274
117 Nonmonetary international
and regional organizations 13,467 14,624
118 International (22) 11,282 12,859
119 Latin American regional
(23) 507 372
120 Other regional (24) 1,611 1,299
2002 2003
Item Dec. (r) Jan. (r)
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 1,832,746 1,782,342
2 Banks own liabilities 1,288,991 1,239,613
By type of liability
3 Deposits (2) 175,220 169,503
4 Other 246,568 267,627
5 Of which: repurchase
agreement (3) 190,134 208,959
6 Banks' custody
liabilities (4) 543,755 542,729
By type of liability
7 U.S. Treasury bills and
certificates (5) 229,827 231,872
8 Other negotiable and
readily
transferable
instruments (6) 163,091 160,148
9 Of which, negotiable
time certificates
of deposit held
in custody for
foreigners 25,821 25,448
10 Of which: short-term
agency
securities (7) 72,731 67,427
11 Other 150,837 150,709
12 Nonmonetary international and
regional organizations
(8) 13,467 14,624
13 Banks own liabilities 12,362 13,921
14 Deposits (2) 5,769 5,298
15 Other 6,593 8,623
16 Banks' custody liabilities
(4) 1,105 703
17 U.S. Treasury bills and
certificates (5) 1,089 687
18 Other negotiable and
readily transferable
instruments (6) 16 16
19 Other 0 0
20 Official institutions (9) 334,455 334,833
21 Banks' own liabilities 93,884 93,790
22 Deposits (2) 20,733 17,378
23 Other 73,151 76,412
24 Bank, custody liabilities
(4) 240,571 241,043
25 U.S. Treasury bills and
certificates (5) 190,375 194,762
26 Other negotiable and
readily transferable
instruments (6) 50,132 45,285
27 Other 64 996
28 Banks (10) 1,176,534 1,116,543
29 Banks' own liabilities 981,645 921,792
30 Deposits (2) 56,020 53,156
31 Other 58,422 66,153
32 Banks' custody liabilities
(4) 194,889 194,751
33 U.S. Treasury bills and
certificates (5) 21,311 20,244
34 Other negotiable and
readily transferable
instruments (6) 46,770 48,614
35 Other 126,808 125,893
36 Other foreigners (11) 308,290 316,342
37 Banks' own liabilities 201,100 210,110
38 Deposits (2) 92,698 93,671
39 Other 108,402 116,439
40 Banks' custodial
liabilities 107,190 106,232
41 U.S. Treasury bills and
certificates (5) 17,052 16,179
42 Other negotiable and
readily transferable
instruments (6) 66,173 66,233
43 Other 23,965 23,820
MEMO
44 Own foreign offices (12) 867,203 802,483
AREA OR COUNTRY
45 Total, all foreigners 1,946,084 (r) 2,008,047 (r)
46 Foreign countries 3,867,998 (r) 3,997,340 (r)
47 Europe 708,524 (r) 726,141 (r)
48 Austria 2,330 2,125
49 Belgium (13) 5,454 7,742
50 Denmark 6,603 6,751
51 Finland 1,861 845
52 France 39,680 (r) 39,885
53 Germany 39,690 (r) 43,681 (r)
54 Greece 2,908 2,002
55 Italy 4,812 4,982 (r)
56 Luxembourg (13) 36,001 (r) 32,926
57 Netherlands 16,258 13,708
58 Norway 10,936 14,163
59 Portugal 2,889 (r) 2,802
60 Russia 27,648 28,918
61 Spain 16,062 (r) 13,919
62 Sweden 4,006 4,611
63 Switzerland 119,429 (r) 114,442
64 Turkey 11,973 10,996
65 United Kingdom 278,896 (r) 301,250 (r)
66 Channel Islands and Isle
of Man (14) 23,024 21,715
67 Yugoslavia (15) 337 332
68 Other Europe and other
former U.S.S.R. (16) 57,727 (r) 58,346
69 Canada 28,618 (r) 31,992 (r)
70 Latin America 104,120 (r) 104,539 (r)
71 Argentina 10,574 (r) 10,663 (r)
72 Brazil 10,991 (r) 12,153 (r)
73 Chile 5,807 (r) 5,713 (r)
74 Colombia 4,892 (r) 4,453
75 Ecuador 2,239 2,369
76 Guatemala 1,474 1,400 (r)
77 Mexico 34,960 (r) 36,033 (r)
78 Panama 4,119 (r) 3,682 (r)
79 Peru 1,361 1,332
80 Uruguay 2,468 (r) 2,760 (r)
81 Venezuela 19,594 18,208 (r)
82 Other Latin America (17) 5,641 5,773 (r)
83 Caribbean 210,915 (r) 223,153
84 Bahamas 165,813 (r) 175,721
85 Bermuda 38,133 (r) 40,552
86 British West Indies (18) 0 0
87 Cayman Islands (18) 524,354 (r) 551,635
88 Cuba 207 91
89 Jamaica 851 996
90 Netherlands Antilles 4,527 4,420
91 Trinidad and Tobago 1,384 1,373
92 Other Caribbean (17) 11,786 (r) 11,883 (r)
93 Asia 319,760 (r) 326,773 (r)
China
94 Mainland 13,703 (r) 17,618
95 Taiwan 24,140 20,099
96 Hong Kong 35,787 (r) 32,964
97 India 8,836 8,672
98 Indonesia 12,419 11,943
99 Israel 10,210 (r) 11,791 (r)
100 Japan 166,421 (r) 176,338
101 Korea (South) 7,044 6,730
102 Philippines 1,528 1,764
103 Thailand 5,033 5,287
104 Middle Eastern oil-
exporting countries
(19) 12,198 (r) 9,858
105 Other 22,541 (r) 23,709
106 Africa 14,390 12,980
107 Egypt 3,624 3,549
108 Morocco 346 283
109 South Africa 2,406 1,807
110 Congo (formerly Zaire) 5 3
111 Oil-exporting countries
(20) 4,552 3,987
112 Other 3,457 3,351
113 Other countries 11,532 9,574
114 Australia 9,120 6,842
115 New Zealand (21) 1,940 2,175
116 All other 472 557
117 Nonmonetary international
and regional organizations 12,085 9,377
118 International (22) 10,217 7,955
119 Latin American regional
(23) 547 686
120 Other regional (24) 1,216 633
2003
Item Apr. (r) May. (p)
BY HOLDER AND TYPE
OF LIABILITY
1 Total, all foreigners 2,065,127 2,100,548
2 Banks own liabilities 1,499,241 1,512,158
By type of liability
3 Deposits (2) 823,417 805,851
4 Other 675,824 706,307
5 Of which: repurchase
agreement (3) 378,839 390,970
6 Banks' custody
liabilities (4) 565,886 588,390
By type of liability
7 U.S. Treasury bills and
certificates (5) 242,527 251,905
8 Other negotiable and
readily
transferable
instruments (6) 179,939 194,834
9 Of which, negotiable
time certificates
of deposit held
in custody for
foreigners 31,435 33,352
10 Of which: short-term
agency
securities (7) 76,960 85,226
11 Other 143,420 141,651
12 Nonmonetary international and
regional organizations
(8) 9,003 8,962
13 Banks own liabilities 8,950 8,946
14 Deposits (2) 3,086 3,197
15 Other 5,864 5,749
16 Banks' custody liabilities
(4) 53 16
17 U.S. Treasury bills and
certificates (5) 33 3
18 Other negotiable and
readily transferable
instruments (6) 20 13
19 Other 0 0
20 Official institutions (9) 351,163 384,781
21 Banks' own liabilities 95,358 110,867
22 Deposits (2) 23,968 22,528
23 Other 71,390 88,339
24 Bank, custody liabilities
(4) 255,805 273,914
25 U.S. Treasury bills and
certificates (5) 200,462 210,033
26 Other negotiable and
readily transferable
instruments (6) 55,189 63,217
27 Other 154 664
28 Banks (10) 1,210,658 1,216,795
29 Banks' own liabilities 1,019,160 1,023,397
30 Deposits (2) 686,570 672,071
31 Other 332,590 351,326
32 Banks' custody liabilities
(4) 191,498 193,399
33 U.S. Treasury bills and
certificates (5) 21,989 20,398
34 Other negotiable and
readily transferable
instruments (6) 51,753 57,447
35 Other 117,756 115,553
36 Other foreigners (11) 494,303 490,010
37 Banks' own liabilities 375,773 368,948
38 Deposits (2) 109,793 108,055
39 Other 265,980 260,893
40 Banks' custodial
liabilities 118,530 121,062
41 U.S. Treasury bills and
certificates (5) 20,043 21,471
42 Other negotiable and
readily transferable
instruments (6) 72,977 74,157
43 Other 25,510 25,434
MEMO
44 Own foreign offices (12) 996,117 997,017
AREA OR COUNTRY
45 Total, all foreigners 2,065,127 (r) 2,100,548
46 Foreign countries 4,112,248 (r) 4,183,172
47 Europe 722,353 (r) 759,838
48 Austria 2,110 2,472
49 Belgium (13) 6,668 4,099
50 Denmark 5,088 (r) 7,091
51 Finland 1,007 (r) 2,291
52 France 41,280 (r) 46,726
53 Germany 42,498 (r) 44,151
54 Greece 1,378 (r) 1,633
55 Italy 6,431 (r) 5,938
56 Luxembourg (13) 36,765 38,547
57 Netherlands 15,207 16,066
58 Norway 13,866 15,479
59 Portugal 2,906 2,735
60 Russia 30,656 35,062
61 Spain 14,177 15,851
62 Sweden 6,816 6,309
63 Switzerland 100,321 113,510
64 Turkey 11,214 (r) 12,253
65 United Kingdom 303,976 (r) 308,140
66 Channel Islands and Isle
of Man (14) 21,404 23,478
67 Yugoslavia (15) 237 183
68 Other Europe and other
former U.S.S.R. (16) 58,348 57,824
69 Canada 29,209 (r) 31,867
70 Latin America 106,601 (r) 105,480
71 Argentina 9,959 (r) 9,735
72 Brazil 11,243 (r) 12,742
73 Chile 5,062 (r) 5,534
74 Colombia 4,721 4,649
75 Ecuador 2,249 (r) 2,289
76 Guatemala 1,531 (r) 1,493
77 Mexico 38,454 (r) 34,771
78 Panama 3,665 (r) 3,642
79 Peru 1,376 (r) 1,612
80 Uruguay 2,896 (r) 2,893
81 Venezuela 19,107 (r) 20,115
82 Other Latin America (17) 6,338 (r) 6,005
83 Caribbean 211,562 222,555
84 Bahamas 161,208 169,537
85 Bermuda 43,422 45,824
86 British West Indies (18) 0 0
87 Cayman Islands (18) 629,329 591,805
88 Cuba 91 92
89 Jamaica 929 834
90 Netherlands Antilles 4,592 5,065
91 Trinidad and Tobago 1,320 1,203
92 Other Caribbean (17) 12,331 (r) 12,922
93 Asia 318,674 (r) 341,850
China
94 Mainland 14,994 15,618
95 Taiwan 21,274 23,069
96 Hong Kong 34,437 33,961
97 India 9,267 9,394
98 Indonesia 12,039 11,891
99 Israel 10,886 (r) 10,253
100 Japan 166,060 179,917
101 Korea (South) 6,859 7,933
102 Philippines 1,549 1,867
103 Thailand 5,739 5,292
104 Middle Eastern oil-
exporting countries
(19) 10,370 14,447
105 Other 25,200 28,208
106 Africa 13,591 13,170
107 Egypt 3,607 3,536
108 Morocco 210 281
109 South Africa 2,019 2,172
110 Congo (formerly Zaire) 4 4
111 Oil-exporting countries
(20) 4,146 3,701
112 Other 3,605 3,476
113 Other countries 12,474 12,099
114 Australia 9,854 9,497
115 New Zealand (21) 2,123 2,039
116 All other 497 563
117 Nonmonetary international
and regional organizations 9,003 (r) 8,962
118 International (22) 7,919 (r) 7,782
119 Latin American regional
(23) 296 339
120 Other regional (24) 614 693
(1.) Reporting banks include all types of depository institutions as
well as some banks/financial holding companies and brokers and
dealers. Excludes bonds and notes of maturities longer than one year.
Effective February 2003, coverage is expanded to include liabilities of
brokers and dealers to affiliated foreign offices.
(2.) Non-negotiable deposits and brokerage balances.
(3.) Data available beginning January 2001.
(4.) Financial claims on residents of the United State, other than
long-term securities, held by or through reporting banks for foreign
customers. Effective February 2003, also includes loans to U.S.
residents in managed foreign offices of U.S. reporting institutions.
(5.) Includes nonmarketable certificates of indebtedness and Treasury
bills issued to official institutions of foreign countries.
(6.) Principally bankers acceptances, commercial paper, negotiable time
certificates of deposit, and short-term agency securities.
(7.) Data available beginning January 2001.
(8.) Principally the International Bank for Reconstruction and
Development, the Inter-American Development Bank, and the Asian
Development Bank. Excludes "holdings of dollars" of the International
Monetary Fund.
(9.) Foreign central banks, foreign central governments, and the Bank
for International Settlements.
(10.) Excludes central banks, which are included in "Official
institutions." Include, positions with affiliated banking offices also
included in memo line (44) below.
(11.) As of February 2003, includes positions with affiliated
non-banking offices also included in memo line (44) below.
(12.) For U.S. banks, includes amounts owed to own foreign branches and
foreign subsidiaries consolidated in the quarterly Consolidated Reports
of Condition filed with bank regulatory agencies. For agencies,
branches, and majority-owned subsidiaries of foreign banks
consists principally of amounts owed to the head office or parent
foreign office, and to foreign branches, agencies, or wholly owned
subsidiaries of the head office or parent foreign bank. Effective
February 2003, includes amounts owed to affiliated foreign offices of
U.S. brokers and dealers.
(13.) Before January 2001, data for Belgium-Luxembourg were combined.
(14.) Before January 2001, these data were included in data reported
for the United Kingdom.
(15.) In February 2003, Yugoslavia changed its name to Serbia and
Montenegro. Data for other entities of the former Yugoslavia recognized
as independent states by the United States are reported under "Other
Europe".
(16.) Includes the Bank for International Settlements and the European
Central Bank.
(17.) Before January 2001, data for "Other Latin America" and "Other
Caribbean" were combined in "Other Latin America and Caribbean."
(18.) Beginning January 2001, data for the Cayman Islands replaced data
for the British West Indies.
(19.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(20.) Comprises Algeria, Gabon, Libya, end Nigeria.
(21.) Before January 2001, these data were included in "All other."
(22.) Principally the International Bank for Reconstruction and
Development. Excludes "holdings of dollars" of the International
Monetary Fund.
(23.) Principally the Inter-American Development Bank.
(24.) Asian, African, Middle Eastern, and European regional
organizations, except the Bank for International Settlements, which is
included in "Other Europe."
3.18 BANKS' OWN CLAIMS ON FOREIGNERS Reported by Banks in the
United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Area or country 2000 2001
1 Total, all foreigners 904,642 1,055,069
2 Foreign countries 899,956 1,050,123
3 Europe 378,115 461,176
4 Austria 2,926 4,981
5 Belgium (2) 5,399 6,391
6 Denmark 3,272 1,105
7 Finland 7,382 10,350
8 France 40,035 60,620
9 Germany 36,834 29,902
10 Greece 646 330
11 Italy 7,629 4,205
12 Luxembourg (2) 0 1,267
13 Netherlands 17,043 15,908
14 Norway 5,012 6,236
15 Portugal 1,382 1,603
16 Russia 517 594
17 Spain 26 3,260
18 Sweden 9,226 12,544
19 Switzerland 82,085 87,333
20 Turkey 3,059 2,124
21 United Kingdom 144,938 201,183
22 Channel Islands and Isle
of Man (3) 0 4,478
23 Yugoslavia (4) 50 0
24 Other Europe and other
former U.S.S.R. (5) 8,077 6,762
25 Canada 39,837 54,421
26 Latin America 76,561 69,762
27 Argentina 11,519 10,763
28 Brazil 20,567 19,434
29 Chile 5,815 5,317
30 Colombia 4,370 3,602
31 Ecuador 635 495
32 Guatemala 1,244 1,495
33 Mexico 17,415 16,522
34 Panama 2,933 3,061
35 Peru 2,807 2,185
36 Uruguay 673 447
37 Venezuela 3,518 3,077
38 Other Latin America (6) 5,065 3,364
39 Caribbean 319,403 370,945
40 Bahamas 114,090 101,034
41 Bermuda 9,260 7,900
42 British West Indies (7) 189,289 0
43 Cayman Islands (7) 0 250,376
44 Cuba 0 0
45 Jamaica 355 418
46 Netherlands Antilles 5,801 6,729
47 Trinidad and Tobago 608 931
48 Other Caribbean (6) 0 3,557
49 Asia 77,829 85,882
China
50 Mainland 1,606 2,073
51 Taiwan 2,247 4,407
52 Hong Kong 6,669 9,995
53 India 2,178 1,348
54 Indonesia 1,914 1,752
55 Israel 2,729 4,396
56 Japan 34,974 34,125
57 Korea (South) 7,776 10,622
58 Philippines 1,784 2,587
59 Thailand 1,381 2,499
60 Middle Eastern oil-
exporting countries (8) 9,346 7,882
61 Other 5,225 4,196
62 Africa 2,094 2,095
63 Egypt 201 416
64 Morocco 204 106
65 South Africa 309 710
66 Congo (formerly Zaire) 0 0
67 Oil-exporting countries
(9) 471 167
68 Other 909 696
69 Other countries 6,117 5,842
70 Australia 5,868 5,455
71 New Zealand (10) 0 349
72 All other 249 38
73 Nonmonetary international and
regional organizations (11) 4,686 4,946
2002
Area or country 2002 Nov.
1 Total, all foreigners 1,088,165 (r) 1,100,942 (r)
2 Foreign countries 1,084,488 (r) 1,097,624 (r)
3 Europe 484,047 489,943
4 Austria 3,603 4,224
5 Belgium (2) 6,044 5,784
6 Denmark 1,109 940
7 Finland 8,518 9,028
8 France 47,705 54,089
9 Germany 22,481 22,103
10 Greece 477 331
11 Italy 3,753 3,945
12 Luxembourg (2) 3,407 3,224
13 Netherlands 23,133 15,572
14 Norway 13,885 11,464
15 Portugal 2,226 2,134
16 Russia 877 787
17 Spain 5,371 4,752
18 Sweden 15,889 15,239
19 Switzerland 126,958 134,425
20 Turkey 2,112 2,532
21 United Kingdom 173,996 182,805
22 Channel Islands and Isle
of Man (3) 17,457 11,304
23 Yugoslavia (4) 0 0
24 Other Europe and other
former U.S.S.R. (5) 5,046 5,261
25 Canada 60,521 (r) 58,715 (r)
26 Latin America 56,642 58,257
27 Argentina 6,783 7,253
28 Brazil 15,419 15,871
29 Chile 5,250 5,358
30 Colombia 2,614 2,758
31 Ecuador 457 451
32 Guatemala 892 889
33 Mexico 15,658 15,828
34 Panama 1,915 1,961
35 Peru 1,411 1,484
36 Uruguay 255 292
37 Venezuela 3,254 3,231
38 Other Latin America (6) 2,734 2,881
39 Caribbean 381,637 (r) 379,033 (r)
40 Bahamas 95,584 93,839
41 Bermuda 9,902 9,902
42 British West Indies (7) 0 0
43 Cayman Islands (7) 265,000 (r) 263,995 (r)
44 Cuba 0 0
45 Jamaica 321 393
46 Netherlands Antilles 6,690 6,744
47 Trinidad and Tobago 889 912
48 Other Caribbean (6) 3,251 3,248
49 Asia 93,487 (r) 104,218 (r)
China
50 Mainland 1,057 6,575
51 Taiwan 3,772 7,034
52 Hong Kong 7,258 6,849
53 India 1,235 921
54 Indonesia 1,270 (r) 1,393 (r)
55 Israel 4,660 3,836
56 Japan 47,600 47,071
57 Korea (South) 11,118 14,297
58 Philippines 2,137 1,555
59 Thailand 1,167 756
60 Middle Eastern oil-
exporting countries (8) 7,952 8,251
61 Other 4,261 5,680
62 Africa 1,977 1,693
63 Egypt 487 428
64 Morocco 53 52
65 South Africa 617 435
66 Congo (formerly Zaire) 0 0
67 Oil-exporting countries
(9) 222 225
68 Other 598 553
69 Other countries 6,177 5,765
70 Australia 5,566 5,303
71 New Zealand (10) 569 439
72 All other 42 23
73 Nonmonetary international and
regional organizations (11) 3,677 3,318
2002 2003
Area or country Dec. Jan.
1 Total, all foreigners 1,088,165 (r) 1,083,390
2 Foreign countries 1,084,488 (r) 1,080,231
3 Europe 484,047 446,105
4 Austria 3,603 4,334
5 Belgium (2) 6,044 6,273
6 Denmark 1,109 1,563
7 Finland 8,518 9,832
8 France 47,705 45,914
9 Germany 22,481 23,795
10 Greece 477 296
11 Italy 3,753 3,177
12 Luxembourg (2) 3,407 3,901
13 Netherlands 23,133 19,188
14 Norway 13,885 18,606
15 Portugal 2,226 2,356
16 Russia 877 1,025
17 Spain 5,371 4,154
18 Sweden 15,889 15,329
19 Switzerland 126,958 87,562
20 Turkey 2,112 2,021
21 United Kingdom 173,996 167,820
22 Channel Islands and Isle
of Man (3) 17,457 24,393
23 Yugoslavia (4) 0 0
24 Other Europe and other
former U.S.S.R. (5) 5,046 4,966
25 Canada 60,521 (r) 65,085
26 Latin America 56,642 54,482
27 Argentina 6,783 6,663
28 Brazil 15,419 14,520
29 Chile 5,250 5,077
30 Colombia 2,614 2,406
31 Ecuador 457 439
32 Guatemala 892 896
33 Mexico 15,658 15,268
34 Panama 1,915 1,730
35 Peru 1,411 1,403
36 Uruguay 255 255
37 Venezuela 3,254 3,202
38 Other Latin America (6) 2,734 2,623
39 Caribbean 381,637 (r) 402,454
40 Bahamas 95,584 97,456
41 Bermuda 9,902 12,511
42 British West Indies (7) 0 0
43 Cayman Islands (7) 265,000 (r) 281,641
44 Cuba 0 0
45 Jamaica 321 304
46 Netherlands Antilles 6,690 6,445
47 Trinidad and Tobago 889 865
48 Other Caribbean (6) 3,251 3,232
49 Asia 93,487 (r) 103,096
China
50 Mainland 1,057 4,799
51 Taiwan 3,772 6,563
52 Hong Kong 7,258 6,490
53 India 1,235 1,128
54 Indonesia 1,270 (r) 1,223
55 Israel 4,660 5,182
56 Japan 47,600 48,818
57 Korea (South) 11,118 14,473
58 Philippines 2,137 2,424
59 Thailand 1,167 830
60 Middle Eastern oil-
exporting countries (8) 7,952 8,004
61 Other 4,261 3,162
62 Africa 1,977 1,945
63 Egypt 487 511
64 Morocco 53 53
65 South Africa 617 545
66 Congo (formerly Zaire) 0 0
67 Oil-exporting countries
(9) 222 240
68 Other 598 596
69 Other countries 6,177 7,064
70 Australia 5,566 6,212
71 New Zealand (10) 569 833
72 All other 42 19
73 Nonmonetary international and
regional organizations (11) 3,677 3,159
2003
Area or country Feb. Mar. (r)
1 Total, all foreigners 1,135,101 (r) 1,214,784
2 Foreign countries 2,263,492 (r) 2,421,508
3 Europe 519,970 (r) 540,034
4 Austria 4,142 4,538
5 Belgium (2) 6,285 (r) 7,652
6 Denmark 428 (r) 748
7 Finland 9,191 9,462
8 France 48,395 (r) 46,458
9 Germany 22,525 22,259
10 Greece 295 314
11 Italy 3,002 4,012
12 Luxembourg (2) 4,360 3,149
13 Netherlands 16,008 (r) 21,135
14 Norway 9,809 11,091
15 Portugal 2,342 1,929
16 Russia 729 (r) 1,107
17 Spain 3,251 (r) 2,477
18 Sweden 15,458 16,310
19 Switzerland 101,202 106,935
20 Turkey 2,069 2,280
21 United Kingdom 236,653 (r) 236,393
22 Channel Islands and Isle
of Man (3) 27,767 34,994
23 Yugoslavia (4) 0 0
24 Other Europe and other
former U.S.S.R. (5) 6,059 6,791
25 Canada 65,982 (r) 57,321
26 Latin America 55,413 (r) 55,945
27 Argentina 6,615 6,149
28 Brazil 15,329 15,899
29 Chile 5,220 5,228
30 Colombia 2,711 (r) 2,650
31 Ecuador 428 460
32 Guatemala 831 970
33 Mexico 14,993 14,791
34 Panama 1,856 1,882
35 Peru 1,438 1,399
36 Uruguay 300 324
37 Venezuela 3,171 3,293
38 Other Latin America (6) 2,521 2,900
39 Caribbean 381,393 (r) 434,477
40 Bahamas 86,312 (r) 92,186
41 Bermuda 171,131 23,339
42 British West Indies (7) 0 0
43 Cayman Islands (7) 265,642 (r) 307,700
44 Cuba 0 0
45 Jamaica 349 381
46 Netherlands Antilles 7,657 6,750
47 Trinidad and Tobago 966 (r) 881
48 Other Caribbean (6) 3,436 3,240
49 Asia 101,451 (r) 114,185
China
50 Mainland 1,884 9,418
51 Taiwan 5,696 (r) 8,259
52 Hong Kong 5,652 4,987
53 India 1,170 960
54 Indonesia 1,059 1,023
55 Israel 3,328 3,110
56 Japan 56,265 58,391
57 Korea (South) 13,936 13,045
58 Philippines 1,533 2,040
59 Thailand 696 1,382
60 Middle Eastern oil-
exporting countries (8) 6,405 7,110
61 Other 3,827 4,460
62 Africa 1,992 2,051
63 Egypt 544 558
64 Morocco 45 49
65 South Africa 577 565
66 Congo (formerly Zaire) 0 0
67 Oil-exporting countries
(9) 224 257
68 Other 602 622
69 Other countries 5,545 (r) 6,741
70 Australia 5,023 (r) 5,940
71 New Zealand (10) 507 705
72 All other 15 96
73 Nonmonetary international and
regional organizations (11) 3,355 4,030
2003
Area or country Apr. (r) May (p)
1 Total, all foreigners 1,230,233 1,247,439
2 Foreign countries 2,451,214 2,487,518
3 Europe 538,449 568,320
4 Austria 4,875 4,165
5 Belgium (2) 8,119 4,722
6 Denmark 648 495
7 Finland 11,893 8,130
8 France 54,726 52,852
9 Germany 19,844 20,343
10 Greece 234 214
11 Italy 4,526 4,133
12 Luxembourg (2) 4,472 6,433
13 Netherlands 18,083 19,769
14 Norway 11,672 11,039
15 Portugal 2,260 2,457
16 Russia 699 755
17 Spain 2,908 2,374
18 Sweden 16,860 16,184
19 Switzerland 81,560 98,528
20 Turkey 2,441 2,531
21 United Kingdom 246,061 260,393
22 Channel Islands and Isle
of Man (3) 38,611 44,454
23 Yugoslavia (4) 0 0
24 Other Europe and other
former U.S.S.R. (5) 7,956 8,349
25 Canada 58,990 53,892
26 Latin America 54,620 55,920
27 Argentina 6,077 5,918
28 Brazil 15,324 16,390
29 Chile 5,271 5,301
30 Colombia 2,587 2,480
31 Ecuador 445 448
32 Guatemala 841 799
33 Mexico 14,628 15,217
34 Panama 1,959 1,898
35 Peru 1,447 1,492
36 Uruguay 322 313
37 Venezuela 3,188 3,119
38 Other Latin America (6) 2,531 2,545
39 Caribbean 448,057 443,213
40 Bahamas 86,031 91,506
41 Bermuda 21,346 21,552
42 British West Indies (7) 0 0
43 Cayman Islands (7) 329,369 318,460
44 Cuba 0 0
45 Jamaica 376 309
46 Netherlands Antilles 7,008 7,104
47 Trinidad and Tobago 846 849
48 Other Caribbean (6) 3,081 3,433
49 Asia 116,993 115,229
China
50 Mainland 7,819 4,731
51 Taiwan 5,349 5,689
52 Hong Kong 4,767 5,549
53 India 1,050 1,187
54 Indonesia 992 993
55 Israel 4,014 3,971
56 Japan 63,241 62,399
57 Korea (South) 14,837 13,237
58 Philippines 1,862 1,651
59 Thailand 1,252 1,658
60 Middle Eastern oil-
exporting countries (8) 6,871 7,271
61 Other 4,939 6,893
62 Africa 1,850 1,777
63 Egypt 551 446
64 Morocco 42 41
65 South Africa 468 546
66 Congo (formerly Zaire) 0 0
67 Oil-exporting countries
(9) 215 129
68 Other 574 558
69 Other countries 6,648 5,408
70 Australia 5,887 5
71 New Zealand (10) 640 668
72 All other 121 146
73 Nonmonetary international and
regional organizations (11) 4,626 3,680
(1.) Reporting banks include all types of depository institutions as
well as bank/financial holding companies and brokers and dealers.
Effective February 2003, coverage is expanded to include claims of
brokers and dealers on affiliated foreign offices and cross-border
brokerage balances.
(2.) Before January 2001, combined data reported for
Belgium-Luxembourg.
(3.) Before January 2001, data included in United Kingdom.
(4.) In February 2003, Yugoslavia changed its name to Serbia and
Montenegro. Data for other entities of the former Yugoslavia
recognized as independent states by the United States are reported
under "Other Europe."
(5.) Includes the Bank for International Settlements and the European
Central Bank.
(6.) Before January 2001, "Other Latin America" and "Other Caribbean"
were reported as combined "Other Latin America and Caribbean."
(7.) Beginning 2001, Cayman Islands replaced British West Indies in
the data series.
(8.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia,
and United Arab Emirates (Trucial States).
(9.) Comprises Algeria, Gabon, Libya, and Nigeria.
(10.) Before January 2001, included in "All other."
(11.) Excludes the Bank for International Settlements, which is
included in "Other Europe."
3.19 BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Reported by Banks in the United States (1)
Payable in U.S. dollars
Millions of dollars, end of period
Type of claim 2000 2001
1 Total claims reported by banks 1,095,869 1,254,863
2 Banks' own claims on foreigners 904,642 1,055,069
3 Foreign official institutions (2) 37,907 49,404
4 Foreign backs (3) 725,380 849,491
5 Other foreigners (4) 141,155 156,174
6 Claims on banks 'domestic customers (5) 191,227 199,794
7 Non-negotiable deposits 100,352 93,565
8 Negotiable CDs
9 Other short-term negotiable
instruments (6) 78,147 90,412
10 Other claims 12,728 15,817
MEMO
11 Non-negotiable deposits (7)
12 Negotiable CDs (7)
13 Other short-term negotiable
instruments (7)
14 Other claims (7) n.a. n.a.
15 Own foreign offices (8) 630,137 749,124
16 Loans collateralized by repurchase
agreements (9) 137,979
Type of claim 2002
1 Total claims reported by banks 1,306,306 (r)
2 Banks' own claims on foreigners 1,088,165 (r)
3 Foreign official institutions (2) 52,198 (r)
4 Foreign backs (3) 873,077 (r)
5 Other foreigners (4) 162,890
6 Claims on banks 'domestic customers (5) 218,141
7 Non-negotiable deposits 80,269
8 Negotiable CDs
9 Other short-term negotiable
instruments (6) 131,780
10 Other claims 6,092
MEMO
11 Non-negotiable deposits (7)
12 Negotiable CDs (7)
13 Other short-term negotiable
instruments (7)
14 Other claims (7) n.a.
15 Own foreign offices (8) 795,060 (r)
16 Loans collateralized by repurchase
agreements (9) 161,585
2002
Type of claim Nov.
1 Total claims reported by banks
2 Banks' own claims on foreigners 1,100,942 (r)
3 Foreign official institutions (2) 60,321 (r)
4 Foreign backs (3) 876,741 (r)
5 Other foreigners (4) 163,880
6 Claims on banks 'domestic customers (5)
7 Non-negotiable deposits
8 Negotiable CDs
9 Other short-term negotiable
instruments (6)
10 Other claims
MEMO
11 Non-negotiable deposits (7)
12 Negotiable CDs (7)
13 Other short-term negotiable
instruments (7)
14 Other claims (7) n.a
15 Own foreign offices (8) 781,783 (r)
16 Loans collateralized by repurchase
agreements (9) 156,299
2002
Type of claim Dec. (r)
1 Total claims reported by banks 1,306,306
2 Banks' own claims on foreigners 1,088,165
3 Foreign official institutions (2) 52,198
4 Foreign backs (3) 873,077
5 Other foreigners (4) 162,890
6 Claims on banks 'domestic customers (5) 218,141
7 Non-negotiable deposits 80,269
8 Negotiable CDs
9 Other short-term negotiable
instruments (6) 131,780
10 Other claims 6,092
MEMO
11 Non-negotiable deposits (7)
12 Negotiable CDs (7)
13 Other short-term negotiable
instruments (7)
14 Other claims (7) n.a.
15 Own foreign offices (8) 795,060
16 Loans collateralized by repurchase
agreements (9) 161,585
2003
Type of claim Jan. (r) Feb. (r)
1 Total claims reported by banks
2 Banks' own claims on foreigners 1,083,390 1,135,101
3 Foreign official institutions (2) 62,004 39,628
4 Foreign backs (3) 854,787 832,440
5 Other foreigners (4) 166,599 263,033
6 Claims on banks 'domestic customers (5)
7 Non-negotiable deposits
8 Negotiable CDs
9 Other short-term negotiable
instruments (6)
10 Other claims
MEMO
11 Non-negotiable deposits (7) 354,995
12 Negotiable CDs (7) 2,221
13 Other short-term negotiable
instruments (7) 9,722
14 Other claims (7) n.a. 768,163
15 Own foreign offices (8) 768,492 807,290
16 Loans collateralized by repurchase
agreements (9) 185,804 245,798
2003
Type of claim Mar. (r) Apr. (r)
1 Total claims reported by banks 1,476,482
2 Banks' own claims on foreigners 1,214,784 1,230,233
3 Foreign official institutions (2) 50,908 47,619
4 Foreign backs (3) 869,909 885,366
5 Other foreigners (4) 293,967 297,248
6 Claims on banks 'domestic customers (5) 261,698
7 Non-negotiable deposits 98,891
8 Negotiable CDs 87,925
9 Other short-term negotiable
instruments (6) 58,025
10 Other claims 16,857
MEMO
11 Non-negotiable deposits (7) 372,679 395,189
12 Negotiable CDs (7) 2,621 1,741
13 Other short-term negotiable
instruments (7) 13,444 13,788
14 Other claims (7) 826,040 81,952
15 Own foreign offices (8) 848,417 854,911
16 Loans collateralized by repurchase
agreements (9) 287,043 311,728
2003
Type of claim May (p)
1 Total claims reported by banks
2 Banks' own claims on foreigners 1,247,439
3 Foreign official institutions (2) 48,815
4 Foreign backs (3) 896,872
5 Other foreigners (4) 301,752
6 Claims on banks 'domestic customers (5)
7 Non-negotiable deposits
8 Negotiable CDs
9 Other short-term negotiable
instruments (6)
10 Other claims
MEMO
11 Non-negotiable deposits (7) 381,134
12 Negotiable CDs (7) 2,198
13 Other short-term negotiable
instruments (7) 13,147
14 Other claims (7) 850,960
15 Own foreign offices (8) 874,714
16 Loans collateralized by repurchase
agreements (9) 319,597
(1.) For banks' claims, data are monthly; for claims of banks'
domestic customers, data are for the quarter ending with the month
indicated.
Reporting banks include all types of depository institutions as well
as banks/financial holding companies and brokers and dealers.
Effective February 2003, coverage is expanded to include claims of
brokers and dealers on affiliated foreign offices and cross-border
balances. dealers.
(2.) Prior n February 2003, reflects claims on all foreign public
borrowers.
(3.) Includes positions with affiliated banking offices also included
in memo line (15) below.
(4.) As of February 2003, includes position, with affiliated
non-banking offices also included in memo line (15) below.
(5.) Assets held by reporting banks in the accounts of their domestic
customers. Effective March 2003, includes balances in off-shore sweep
accounts.
(6.) Primarily bankers acceptances and commercial paper. Prior to
February 2003, also includes negotiable certificates of deposit.
(7.) Data available beginning February 2003.
(8.) For U.S. banks, includes amounts due from own foreign branches
and foreign subsidiaries consolidated in quarterly Consolidated
Reports of Condition filed with bank regulatory agencies. For
agencies, branches, and minority-owned subsidiaries of foreign banks,
consists principally of amounts due from the head office or parent
foreign bank, and from foreign branches, agencies, or wholly owned
subsidiaries of the head office or parent foreign bank.
(9.) Data available beginning January 2001.
3.22 LIABILITIES TO UNAFFILIATED FOREIGNERS
Reported in Nonbanking Business Enterprises in the United States
Million of dollars, end of period
Type of liability, and area or country 1999 2000
1 Total 53,020 73,904
By type
2 Financial liabilities 27,980 47,419
3 Short-term negotiable securities (1) n.a. n.a.
4 Other liabilities (1) n.a. n.a.
Of which:
5 Borrowings (1) n.a. n.a.
6 Repurchase agreements (1) n.a. n.a.
By currency
7 U.S. dollars n.a. 25,246
8 Foreign currency (2) n.a. 22,173
9 Canadian dollars n.a. n.a.
10 Euros n.a. n.a.
11 United Kingdom pounds sterling n.a. n.a.
12 Japanese yen n.a. n.a.
13 All other currencies n.a. n.a.
By areas or country
Financial liabilities
14 Europe 23,241 34,172
15 Belgium-Luxembourg 31 147
16 France 1,659 1,480
17 Germany 1,974 2,168
18 Netherlands 1,996 2,016
19 Switzerland 147 104
20 United Kingdom 16,521 26,362
MEMO:
21 Euro area (3) n.a. 7,587
22 Canada 284 411
23 Latin America and Caribbean 892 4,125
24 Bahamas 1 6
25 Bermuda 5 1,739
26 Brazil 126 148
27 British West Indies (4) 492 406
28 Cayman Islands n.a. n.a.
29 Mexico 25 26
30 Venezuela 0 2
31 Asia 3,437 7,965
32 Japan 3,142 6,216
33 Middle Eastern oil-exporting
countries (5) 4 12
34 Africa 28 52
35 Oil-exposing countries (6) 0 0
36 All other (7) 98 694
37 Commercial liabilities 25,040 26,485
38 Trade payable 12,834 14,293
39 Advance payments and other liabilities n.a. 12,192
By currency
40 Payable in U.S. dollars 23,722 23,685
41 Payable in foreign currencies (2) 1,318 2,800
42 Canadian dollar n.a. n.a.
43 Euros n.a. n.a.
44 United Kingdom pounds sterling n.a. n.a.
45 Japanese yen n.a. n.a.
46 All other currencies n.a. n.a.
By area or country
Commercial liabilities
47 Europe 9,262 9,629
48 Belgium-Luxembourg 140 293
49 France 672 979
50 Germany 1,131 1,047
51 Netherlands 507 300
52 Switzerland 626 502
53 United Kingdom 3,071 2,847
MEMO
54 Euro area (3) n.a. 4,518
55 Canada 1,775 1,933
56 Latin America and Caribbean 230 2,381
57 Bahamas 22 31
58 Bermuda 152 281
59 Brazil 145 114
60 British West Indies (4) 48 76
61 Cayman Islands n.a. n.a.
62 Mexico 887 841
63 Venezuela 305 284
64 Asia 9,886 10,983
65 Japan 2,609 2,757
66 Middle Eastern oil-exporting
countries (5) 2,493 2,832
67 Africa 950 949
68 Oil-exporing countries (6) 499 483
69 All other (7) 881 611
MEMO
70 Financial liabilities to foreign
affiliates (8) n.a. n.a.
2001
Type of liability, and area or country 2001 Dec.
1 Total 66,679 66,679
By type
2 Financial liabilities 41,034 41,034
3 Short-term negotiable securities (1) n.a. n.a.
4 Other liabilities (1) n.a. n.a.
Of which:
5 Borrowings (1) n.a. n.a.
6 Repurchase agreements (1) n.a. n.a.
By currency
7 U.S. dollars 18,763 n.a.
8 Foreign currency (2) 22,271 n.a.
9 Canadian dollars n.a. n.a.
10 Euros n.a. n.a.
11 United Kingdom pounds sterling n.a. n.a.
12 Japanese yen n.a. n.a.
13 All other currencies n.a. n.a.
By areas or country
Financial liabilities
14 Europe 31,806 31,806
15 Belgium-Luxembourg 154 154
16 France 2,841 2,841
17 Germany 2,344 2,344
18 Netherlands 1,954 1,954
19 Switzerland 94 94
20 United Kingdom 22,852 22,852
MEMO:
21 Euro area (3) 8,798 n.a.
22 Canada 955 955
23 Latin America and Caribbean 2,858 2,858
24 Bahamas 157 157
25 Bermuda 960 960
26 Brazil 35 35
27 British West Indies (4) 1,627 1,627
28 Cayman Islands n.a. n.a.
29 Mexico 36 36
30 Venezuela 2 2
31 Asia 5,042 5,042
32 Japan 3,269 3,269
33 Middle Eastern oil-exporting
countries (5) 10 10
34 Africa 53 53
35 Oil-exposing countries (6) 5 5
36 All other (7) 320 320
37 Commercial liabilities 25,645 25,645
38 Trade payable 11,781 11,781
39 Advance payments and other liabilities 13,864 n.a.
By currency
40 Payable in U.S. dollars 24,162 24,162
41 Payable in foreign currencies (2) 1,483 1,483
42 Canadian dollar n.a. n.a.
43 Euros n.a. n.a.
44 United Kingdom pounds sterling n.a. n.a.
45 Japanese yen n.a. n.a.
46 All other currencies n.a. n.a.
By area or country
Commercial liabilities
47 Europe 9,219 9,219
48 Belgium-Luxembourg 99 99
49 France 734 734
50 Germany 905 905
51 Netherlands 1,163 1,163
52 Switzerland 790 790
53 United Kingdom 2,279 2,279
MEMO
54 Euro area (3) 5,141 n.a.
55 Canada 1,622 1,622
56 Latin America and Caribbean 2,727 2,727
57 Bahamas 52 52
58 Bermuda 591 591
59 Brazil 290 290
60 British West Indies (4) 45 45
61 Cayman Islands n.a. n.a.
62 Mexico 899 899
63 Venezuela 166 166
64 Asia 10,517 10,517
65 Japan 2,581 2,581 (c)
66 Middle Eastern oil-exporting
countries (5) 2,639 2,598
67 Africa 836 836
68 Oil-exporing countries (6) 436 436
69 All other (7) 724 724
MEMO
70 Financial liabilities to foreign
affiliates (8) n.a. n.a.
2002
Type of liability, and area or country Mar. June
1 Total 74,887 70,431
By type
2 Financial liabilities 46,408 42,826
3 Short-term negotiable securities (1) n.a. n.a.
4 Other liabilities (1) n.a. n.a.
Of which:
5 Borrowings (1) n.a. n.a.
6 Repurchase agreements (1) n.a. n.a.
By currency
7 U.S. dollars 20,454 22,050
8 Foreign currency (2) 25,954 20,776
9 Canadian dollars n.a. n.a.
10 Euros n.a. n.a.
11 United Kingdom pounds sterling n.a. n.a.
12 Japanese yen n.a. n.a.
13 All other currencies n.a. n.a.
By areas or country
Financial liabilities
14 Europe 39,379 35,004
15 Belgium-Luxembourg 119 120
16 France 3,531 4,071
17 Germany 2,982 2,622
18 Netherlands 1,946 1,935
19 Switzerland 84 61
20 United Kingdom 28,694 24,338
MEMO:
21 Euro area (3) 9,991 10,107
22 Canada 1,067 1,078
23 Latin America and Caribbean 1,547 1,832
24 Bahamas 5 5
25 Bermuda 836 626
26 Brazil 35 38
27 British West Indies (4) 612 1,000
28 Cayman Islands n.a. n.a.
29 Mexico 27 25
30 Venezuela 1 5
31 Asia 4,020 4,498
32 Japan 3,299 2,387
33 Middle Eastern oil-exporting
countries (5) 15 14
34 Africa 122 120
35 Oil-exposing countries (6) 91 91
36 All other (7) 273 294
37 Commercial liabilities 28,479 27,605
38 Trade payable 15,119 14,205
39 Advance payments and other liabilities 13,360 13,400
By currency
40 Payable in U.S. dollars 26,715 26,004
41 Payable in foreign currencies (2) 1,764 1,601
42 Canadian dollar n.a. n.a.
43 Euros n.a. n.a.
44 United Kingdom pounds sterling n.a. n.a.
45 Japanese yen n.a. n.a.
46 All other currencies n.a. n.a.
By area or country
Commercial liabilities
47 Europe 8,168 8,015
48 Belgium-Luxembourg 105 94
49 France 713 827
50 Germany 584 570
51 Netherlands 236 312
52 Switzerland 648 749
53 United Kingdom 2,747 2,551
MEMO
54 Euro area (3) 3,673 3,718
55 Canada 1,802 2,027
56 Latin America and Caribbean 3,515 2,817
57 Bahamas 23 12
58 Bermuda 437 422
59 Brazil 277 320
60 British West Indies (4) 67 46
61 Cayman Islands n.a. n.a.
62 Mexico 1,518 1,015
63 Venezuela 281 204
64 Asia 13,116 12,866
65 Japan 4,281 (c) 4,143 (c)
66 Middle Eastern oil-exporting
countries (5) 3,289 3,432
67 Africa 1,000 916
68 Oil-exporing countries (6) 454 349
69 All other (7) 878 964
MEMO
70 Financial liabilities to foreign
affiliates (8) n.a. n.a.
2002
Type of liability, and area or country Sept. Dec.
1 Total 68,225 67,664
By type
2 Financial liabilities 41,311 39,561
3 Short-term negotiable securities (1) n.a. n.a.
4 Other liabilities (1) n.a. n.a.
Of which:
5 Borrowings (1) n.a. n.a.
6 Repurchase agreements (1) n.a. n.a.
By currency
7 U.S. dollars 18,913 18,844
8 Foreign currency (2) 22,398 20,717
9 Canadian dollars n.a. n.a.
10 Euros n.a. n.a.
11 United Kingdom pounds sterling n.a. n.a.
12 Japanese yen n.a. n.a.
13 All other currencies n.a. n.a.
By areas or country
Financial liabilities
14 Europe 34,809 34,335
15 Belgium-Luxembourg 232 144
16 France 3,517 5,243
17 Germany 2,865 2,923
18 Netherlands 1,915 1,825
19 Switzerland 61 61
20 United Kingdom 24,303 22,531
MEMO:
21 Euro area (3) 10,369 11,211
22 Canada 583 591
23 Latin America and Caribbean 1,088 1,504
24 Bahamas 0 23
25 Bermuda 588 990
26 Brazil 65 65
27 British West Indies (4) 377 365
28 Cayman Islands n.a. n.a.
29 Mexico 26 31
30 Venezuela 1 1
31 Asia 4,450 2,932
32 Japan 2,447 1,832
33 Middle Eastern oil-exporting
countries (5) 16 14
34 Africa 128 131
35 Oil-exposing countries (6) 91 91
36 All other (7) 253 68
37 Commercial liabilities 26,914 28,103
38 Trade payable 13,819 14,699
39 Advance payments and other liabilities 13,095 13,404
By currency
40 Payable in U.S. dollars 25,621 26,243
41 Payable in foreign currencies (2) 1,293 1,860
42 Canadian dollar n.a. n.a.
43 Euros n.a. n.a.
44 United Kingdom pounds sterling n.a. n.a.
45 Japanese yen n.a. n.a.
46 All other currencies n.a. n.a.
By area or country
Commercial liabilities
47 Europe 8,065 8,257
48 Belgium-Luxembourg 134 141
49 France 718 765
50 Germany 855 807
51 Netherlands 506 590
52 Switzerland 592 433
53 United Kingdom 2,317 2,649
MEMO
54 Euro area (3) 4,258 4,200
55 Canada 1,570 1,588
56 Latin America and Caribbean 2,923 3,073
57 Bahamas 14 51
58 Bermuda 468 538
59 Brazil 290 253
60 British West Indies (4) 47 36
61 Cayman Islands n.a. n.a.
62 Mexico 1,070 1,170
63 Venezuela 327 177
64 Asia 12,462 13,382
65 Japan 4,031 (c) 4,292 (c)
66 Middle Eastern oil-exporting
countries (5) 3,857 3,979
67 Africa 876 827
68 Oil-exporing countries (6) 445 405
69 All other (7) 1,018 976
MEMO
70 Financial liabilities to foreign
affiliates (8) n.a. n.a.
2003
Type of liability, and area or country Mar. (p)
1 Total 73,558
By type
2 Financial liabilities 45,119
3 Short-term negotiable securities (1) 21,415
4 Other liabilities (1) 23,704
Of which:
5 Borrowings (1) 6,398
6 Repurchase agreements (1) 19,181
By currency
7 U.S. dollars 18,363
8 Foreign currency (2) 26,756
9 Canadian dollars 527
10 Euros 12,336
11 United Kingdom pounds sterling 7,209
12 Japanese yen 2,880
13 All other currencies 3,804
By areas or country
Financial liabilities
14 Europe 35,800
15 Belgium-Luxembourg 1,164
16 France 2,782
17 Germany 3,143
18 Netherlands 1,797
19 Switzerland 19
20 United Kingdom 25,539
MEMO:
21 Euro area (3) 10,100
22 Canada 492
23 Latin America and Caribbean 3,816
24 Bahamas 334
25 Bermuda 3,046
26 Brazil 127
27 British West Indies (4) n.a.
28 Cayman Islands 25
29 Mexico 29
30 Venezuela 0
31 Asia 4,303
32 Japan 2,043
33 Middle Eastern oil-exporting
countries (5) 17
34 Africa 116
35 Oil-exposing countries (6) 91
36 All other (7) 592
37 Commercial liabilities 28,439
38 Trade payable 15
39 Advance payments and other liabilities 14
By currency
40 Payable in U.S. dollars 24,879
41 Payable in foreign currencies (2) 3,560
42 Canadian dollar 114
43 Euros 1,074
44 United Kingdom pounds sterling 661
45 Japanese yen 242
46 All other currencies 1,469
By area or country
Commercial liabilities
47 Europe 8,794
48 Belgium-Luxembourg 186
49 France 867
50 Germany n.a.
51 Netherlands 732
52 Switzerland 548
53 United Kingdom 2,895
MEMO
54 Euro area (3) 4,350
55 Canada 1,768
56 Latin America and Caribbean 3,035
57 Bahamas 59
58 Bermuda 519
59 Brazil 246
60 British West Indies (4) n.a.
61 Cayman Islands 80
62 Mexico 1,091
63 Venezuela 143
64 Asia 13,121
65 Japan 4,137
66 Middle Eastern oil-exporting
countries (5) 3,546
67 Africa 927
68 Oil-exporing countries (6) 423
69 All other (7) 794
MEMO
70 Financial liabilities to foreign
affiliates (8) 12,917
(1.) Data available beginning March 2003.
(2.) Foreign currency detail available beginning March 2003.
(3.) Comprises Austria, Belgium, Finland, France, Germany, Ireland,
Italy, Luxembourg, Netherlands, Portugal, and Spain. As of December
2001, also includes Greece.
(4.) Beginning March 2003, data for the Cayman Islands replaced data
for the British West Indies.
(5.) Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and
United Arab Emirates (Trucial States).
(6.) Comprises Algeria, Gabon, Libya, and Nigeria.
(7.) Includes nonmonetary international and regional organizations.
(8.) Data available beginning March 2003. Includes financial
liabilities to foreign affiliates of insurance underwriting
subsidiaries of Bank/Financial Holding Companies and other financial
intermediates. These data are not included in lines 1-6 above.
3.23 CLAIMS ON AFFILIATED FOREIGNERS
Reported in Nonbanking Business Enterprises in the United States
Million of dollars, end of period
Type of claim and area or country 1999 2000
1 Total 76,642 90,157
By type
2 Financial claims 40,231 53,031
3 Non-negotiable deposits n.a. 23,374
4 Negotiable securities n.a. 29,657
Of which:
5 Negotiable CDs (1) n.a. n.a.
6 Other claims 21,665 29,657
Of which:
7 Loans (1) n.a. n.a.
8 Repurchase agreements (1) n.a. n.a.
By currency
9 U.S. dollars n.a. 46,197
10 Foreign currency (2) n.a. 6,874
11 Canadian dollars n.a. n.a.
12 Euros n.a. n.a.
13 United Kingdom pounds sterling n.a. n.a.
14 Japanese yen n.a. n.a.
15 All other currencies n.a. n.a.
By area or country
Financial claims
16 Europe 13,023 23,136
17 Belgium-Luxembourg 529 296
18 France 967 1,206
19 Germany 504 848
20 Netherlands 1,229 1,396
21 Switzerland 643 699
22 United Kingdom 7,561 15,900
MEMO:
23 Euro area (3) n.a. 5,580
24 Canada 2,553 4,576
25 Latin America and Caribbean 18,206 19,317
26 Bahamas 1,593 1,353
27 Bermuda 11 19
28 Brazil 1,476 1,827
29 British West Indies (4) 12,099 12,596
30 Cayman Islands n.a. n.a.
31 Mexico 1,798 2,448
32 Venezuela 48 87
33 Asia 5,457 4,697
34 Japan 3,262 1,631
35 Middle Eastern oil-exporting countries (5) 23 80
36 Africa 286 411
37 Oil-exporting countries (6) 15 57
38 All other (7) 706 894
39 Commercial claims 36,411 37,126
40 Trade receivables 32,602 33,104
41 Advance payments and other claims 3,809 4,022
By currency
42 Payable in US dollars 34,204 33,401
43 Payable in foreign currencies (2) 2,207 3,725
44 Canadian dollars n.a. n.a.
45 Euros n.a. n.a.
46 United Kingdom pounds sterling n.a. n.a.
47 Japanese yen n.a. n.a.
48 All other currencies n.a. n.a.
By area or country
Commercial claims
49 Europe 16,389 15,938
50 Belgium-Luxembourg 316 452
51 France 2,236 31,095
52 Germany 1,960 1,982
53 Netherlands 1,429 1,729
54 Switzerland 610 763
55 United Kingdom 5,827 4,502
MEMO
56 Euro area (3) n.a. 8,819
57 Canada 2,757 3,502
58 Latin America and Caribbean 5,959 5,851
59 Bahamas 20 37
60 Bermuda 390 376
61 Brazil 905 957
62 British West Indies (4) 181 137
63 Cayman Islands n.a. n.a.
64 Mexico 1,678 1,507
65 Venezuela 439 328
66 Asia 9,165 9,630
67 Japan 2,074 2,796
68 Middle Eastern oil-exporting countries (5) 1,573 1,024
69 Africa 631 672
70 Oil-exporting countries (6) 171 180
71 All other (7) 1,537 1,533
MEMO
72 Financial claims on foreign affiliates (8) n.a. n.a.
2001
Type of claim and area or country 2001
Dec.
1 Total 113,082 113,082
By type
2 Financial claims 81,287 81,287
3 Non-negotiable deposits 29,801 n.a.
4 Negotiable securities 51,486 n.a.
Of which:
5 Negotiable CDs (1) n.a. n.a.
6 Other claims 51,486 51,486
Of which:
7 Loans (1) n.a. n.a.
8 Repurchase agreements (1) n.a. n.a.
By currency
9 U.S. dollars 74,471 n.a.
10 Foreign currency (2) 6,816 n.a.
11 Canadian dollars n.a. n.a.
12 Euros n.a. n.a.
13 United Kingdom pounds sterling n.a. n.a.
14 Japanese yen n.a. n.a.
15 All other currencies n.a. n.a.
By area or country
Financial claims
16 Europe 26,118 26,118
17 Belgium-Luxembourg 625 625
18 France 1,450 1,450
19 Germany 1,068 1,068
20 Netherlands 2,138 2,138
21 Switzerland 589 589
22 United Kingdom 16,510 16,510
MEMO:
23 Euro area (3) 8,626 n.a.
24 Canada 6,193 6,193
25 Latin America and Caribbean 41,201 41,201
26 Bahamas 976 976
27 Bermuda 918 918
28 Brazil 2,127 2,127
29 British West Indies (4) 32,965 32,965
30 Cayman Islands n.a. n.a.
31 Mexico 3,075 3,075
32 Venezuela 83 83
33 Asia 6,430 6,430
34 Japan 1,604 1,604
35 Middle Eastern oil-exporting countries (5) 135 135
36 Africa 414 414
37 Oil-exporting countries (6) 49 49
38 All other (7) 931 931
39 Commercial claims 31,795 30,610
40 Trade receivables 27,513 27,513
41 Advance payments and other claims 4,282 4,282
By currency
42 Payable in US dollars 29,393 26,864
43 Payable in foreign currencies (2) 2,402 2,402
44 Canadian dollars n.a. n.a.
45 Euros n.a. n.a.
46 United Kingdom pounds sterling n.a. n.a.
47 Japanese yen n.a. n.a.
48 All other currencies n.a. n.a.
By area or country
Commercial claims
49 Europe 14,022 14,022
50 Belgium-Luxembourg 268 268
51 France 2,921 2,921
52 Germany 1,658 1,658
53 Netherlands 529 529
54 Switzerland 611 611
55 United Kingdom 3,833 3,833
MEMO
56 Euro area (3) 7,961 n.a.
57 Canada 2,818 2,818
58 Latin America and Caribbean 4,859 4,859
59 Bahamas 42 42
60 Bermuda 369 369
61 Brazil 954 954
62 British West Indies (4) 95 95
63 Cayman Islands n.a. n.a.
64 Mexico 1,391 1,391
65 Venezuela 288 288
66 Asia 7,849 7,849
67 Japan 2,006 2,006
68 Middle Eastern oil-exporting countries (5) 850 833
69 Africa 645 645
70 Oil-exporting countries (6) 88 88
71 All other (7) 1,602 1,602
MEMO
72 Financial claims on foreign affiliates (8) n.a. n.a.
2002
Type of claim and area or country
Mar. June
1 Total 115,969 116,608
By type
2 Financial claims 85,359 87,331
3 Non-negotiable deposits 41,813 42,136
4 Negotiable securities 43,546 45,195
Of which:
5 Negotiable CDs (1) n.a. n.a.
6 Other claims 43,568 45,188
Of which:
7 Loans (1) n.a. n.a.
8 Repurchase agreements (1) n.a. n.a.
By currency
9 U.S. dollars 79,722 82,353
10 Foreign currency (2) 5,637 4,978
11 Canadian dollars n.a. n.a.
12 Euros n.a. n.a.
13 United Kingdom pounds sterling n.a. n.a.
14 Japanese yen n.a. n.a.
15 All other currencies n.a. n.a.
By area or country
Financial claims
16 Europe 36,032 37,003
17 Belgium-Luxembourg 751 797
18 France 3,489 3,921
19 Germany 4,114 3,972
20 Netherlands 3,253 3,995
21 Switzerland 308 1,010
22 United Kingdom 17,982 16,133
MEMO:
23 Euro area (3) 169,903 18,689
24 Canada 5,471 5,537
25 Latin America and Caribbean 34,979 37,489
26 Bahamas 1,197 1,332
27 Bermuda 611 704
28 Brazil 1,897 2,036
29 British West Indies (4) 27,328 29,569
30 Cayman Islands n.a. n.a.
31 Mexico 2,777 2,823
32 Venezuela 79 60
33 Asia 6,414 5754
34 Japan 21,151 1,146
35 Middle Eastern oil-exporting countries (5) 79 78
36 Africa 390 431
37 Oil-exporting countries (6) 51 64
38 All other (7) 2,073 1,117
39 Commercial claims 30,610 29,277
40 Trade receivables 25,845 24,716
41 Advance payments and other claims 4,765 4,561
By currency
42 Payable in US dollars 26,864 25,361
43 Payable in foreign currencies (2) 3,746 3,916
44 Canadian dollars n.a. n.a.
45 Euros n.a. n.a.
46 United Kingdom pounds sterling n.a. n.a.
47 Japanese yen n.a. n.a.
48 All other currencies n.a. n.a.
By area or country
Commercial claims
49 Europe 12,935 12,314
50 Belgium-Luxembourg 272 207
51 France 2,883 2,828
52 Germany 1,198 1,163
53 Netherlands 642 832
54 Switzerland 436 472
55 United Kingdom 3,579 3,387
MEMO
56 Euro area (3) 7,237 7,106
57 Canada 2,760 2,752
58 Latin America and Caribbean 4,912 4,530
59 Bahamas 42 28
60 Bermuda 422 214
61 Brazil 837 829
62 British West Indies (4) 73 26
63 Cayman Islands n.a. n.a.
64 Mexico 1,225 1,283
65 Venezuela 312 316
66 Asia 7,513 7,309
67 Japan 1,975 2,064
68 Middle Eastern oil-exporting countries (5) 657 889
69 Africa 630 605
70 Oil-exporting countries (6) 1 94
71 All other (7) 1,860 1,767
MEMO
72 Financial claims on foreign affiliates (8) n.a. n.a.
2002
Type of claim and area or country
Sept. Dec.
1 Total 112,784 102,566
By type
2 Financial claims 84,038 71,389
3 Non-negotiable deposits 38,074 27,064
4 Negotiable securities 45,964 44,325
Of which:
5 Negotiable CDs (1) n.a. n.a.
6 Other claims 45,959 44,064
Of which:
7 Loans (1) n.a. n.a.
8 Repurchase agreements (1) n.a. n.a.
By currency
9 U.S. dollars 79,307 65,070
10 Foreign currency (2) 4,731 6,319
11 Canadian dollars n.a. n.a.
12 Euros n.a. n.a.
13 United Kingdom pounds sterling n.a. n.a.
14 Japanese yen n.a. n.a.
15 All other currencies n.a. n.a.
By area or country
Financial claims
16 Europe 32,139 29,018
17 Belgium-Luxembourg 656 722
18 France 3,854 3,247
19 Germany 4,292 4,245
20 Netherlands 4,024 3,648
21 Switzerland 1,135 383
22 United Kingdom 11,454 10,663
MEMO:
23 Euro area (3) 18,542 17,281
24 Canada 5,485 5,013
25 Latin America and Caribbean 38,800 2012
26 Bahamas 715 1,038
27 Bermuda 1,157 724
28 Brazil 2,226 2,286
29 British West Indies (4) 30,837 21,528
30 Cayman Islands n.a. n.a.
31 Mexico 2,871 2,921
32 Venezuela 71 104
33 Asia 6,041 5,358
34 Japan 1,481 1,277
35 Middle Eastern oil-exporting countries (5) 88 79
36 Africa 379 395
37 Oil-exporting countries (6) 29 25
38 All other (7) 1,194 1,993
39 Commercial claims 28,746 31,177
40 Trade receivables 24,171 26,385
41 Advance payments and other claims 4,575 4,792
By currency
42 Payable in US dollars 25,441 26,481
43 Payable in foreign currencies (2) 3,305 4,696
44 Canadian dollars n.a. n.a.
45 Euros n.a. n.a.
46 United Kingdom pounds sterling n.a. n.a.
47 Japanese yen n.a. n.a.
48 All other currencies n.a. n.a.
By area or country
Commercial claims
49 Europe 12,680 14,187
50 Belgium-Luxembourg 254 269
51 France 2,972 3,164
52 Germany 1,158 1,202
53 Netherlands 1,089 1,490
54 Switzerland 404 503
55 United Kingdom 3,236 3,727
MEMO
56 Euro area (3) 7,707 8,580
57 Canada 2,623 2,790
58 Latin America and Caribbean 4,324 4,346
59 Bahamas 35 31
60 Bermuda 270 287
61 Brazil 862 750
62 British West Indies (4) 12 19
63 Cayman Islands n.a. n.a.
64 Mexico 1,184 1,259
65 Venezuela 340 288
66 Asia 6,778 7,324
67 Japan 2,083 2,341
68 Middle Eastern oil-exporting countries (5) 819 818
69 Africa 637 584
70 Oil-exporting countries (6) 107 95
71 All other (7) 1,704 1,946
MEMO
72 Financial claims on foreign affiliates (8) n.a. n.a.
2003
Type of claim and area or country
Mar. (p)
1 Total 111,109
By type
2 Financial claims 81,687
3 Non-negotiable deposits 43,459
4 Negotiable securities 5,729
Of which:
5 Negotiable CDs (1) 216
6 Other claims 32,499
Of which:
7 Loans (1) 12,674
8 Repurchase agreements (1) 5,669
By currency
9 U.S. dollars 74,609
10 Foreign currency (2) 7,078
11 Canadian dollars 604
12 Euros 3,055
13 United Kingdom pounds sterling 2,083
14 Japanese yen 880
15 All other currencies 456
By area or country
Financial claims
16 Europe 34,599
17 Belgium-Luxembourg 1,494
18 France 3,253
19 Germany 6,240
20 Netherlands 4,355
21 Switzerland 1,497
22 United Kingdom 11,203
MEMO:
23 Euro area (3) 20,251
24 Canada 2,060
25 Latin America and Caribbean 31,802
26 Bahamas 757
27 Bermuda 387
28 Brazil 2324
29 British West Indies (4) n.a.
30 Cayman Islands 25,225
31 Mexico 1,780
32 Venezuela 161
33 Asia 7,596
34 Japan 1,226
35 Middle Eastern oil-exporting countries (5) 68
36 Africa 358
37 Oil-exporting countries (6) 26
38 All other (7) 2,272
39 Commercial claims 29,422
40 Trade receivables 24,713
41 Advance payments and other claims 4,709
By currency
42 Payable in US dollars 22,304
43 Payable in foreign currencies (2) 7,118
44 Canadian dollars 385
45 Euros 1,803
46 United Kingdom pounds sterling 1,451
47 Japanese yen 278
48 All other currencies 3,201
By area or country
Commercial claims
49 Europe 13,329
50 Belgium-Luxembourg 228
51 France 2,803
52 Germany 1,285
53 Netherlands 1,128
54 Switzerland 449
55 United Kingdom 3,749
MEMO
56 Euro area (3) 8,082
57 Canada 2,550
58 Latin America and Caribbean 4,773
59 Bahamas 61
60 Bermuda 545
61 Brazil 737
62 British West Indies (4) n.a.
63 Cayman Islands 59
64 Mexico 1,094
65 Venezuela 231
66 Asia 5,981
67 Japan 1,432
68 Middle Eastern oil-exporting countries (5) 614
69 Africa 636
70 Oil-exporting countries (6) 139
71 All other (7) 2,153
MEMO
72 Financial claims on foreign affiliates (8) 11,915
(1.) Data available beginning March 2003.
(2.) Foreign currency detail available beginning March 2003.
(3.) Comprises Austria, Belgium, Finland, France, Germany, Ireland,
Italy, Luxembourg, Netherlands, Portugal, and Spain. As of December
2001, also includes Greece.
(4.) Beginning March 2003, data for the Cayman Islands replaced data
for the British West Indies.
(5.) Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and
United Arab Emirates (Trucial States).
(6.) Comprises Algeria, Gabon, Libya, and Nigeria.
(7.) Includes nonmonetary international and regional organizations.
(8.) Data available beginning March 2003. Includes financial
liabilities to foreign affiliates of insurance underwriting
subsidiaries of Bank/Financial Holding Companies and other financial
intermediates. These data are not included in lines 1-8 above.
3.24 FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction and area or country
2001 2002
U.S. corporate securities
STOCKS
1 Foreign purchase 3,051,332 3,203,259(r)
2 Foreign sale 2,934,942 3,153,816(r)
3 Net purchases or Sides (-) 116,390 49,443(r)
4 Foreign countries 116,187 49,496(r)
5 Europe 88,099 33,004(r)
6 France 5,914 2,127
7 Germany 8,415 -129(r)
8 Netherlands 10,919 4,535
9 Switzerland 3,456 2,655(r)
10 United Kingdom 38,493 15,173
11 Channel Islands and Isle of Man (1) -698 -255
12 Canada 10,984 7,432(r)
13 Latin America and Caribbean -5,154 -15,422(r)
14 Middle East (2) 1,789 -1,293
15 Other Asia 20,726 22,672(r)
16 Japan 6,788 12,337
17 Africa -366 -72
18 Other countries 109 3,175
19 Nonmonetary international and
regional organizations 203 -53
BONDS (3)
20 Foreign purchase 1,942,690 2,549,132(r)
21 Foreign sales 1,556,745 2,171,786(r)
22 Net purchases, or sales (-) 385,945 377,346(r)
23 Foreign countries 385,379 377,083(r)
24 Europe 195,412 167,140(r)
25 France 5,028 3,771
26 Germany 12,362 5,149
27 Netherlands 1,538 -406
28 Switzerland 5,721 8,521
29 United Kingdom 152,772 109,836
30 Channel Islands and Isle of Man (1) 2,000 11,173
31 Canada 4,595 -1,037
32 Latin America and Caribbean 77,019 82,837
33 Middle East (2) 2,337 2,315
34 Other Asia 106,400 121,470
35 Japan 33,687 48,482
36 Africa 7,611 860
37 Other countries -1,144 3,498
38 Nonmonetary international and
regional organizations 566 263
Foreign securities
39 Stocks, net purchases, or sales (-) -50,113 -1,629
40 Foreign purchases 1,397,664 1,260,278
41 Foreign sale 1,447,777 1,261,907
42 Bonds, net purchases, or sales (-) 30,502 28,406
43 Foreign purchase 1,160,102 1,377,020
44 Foreign sales 1,129,600 1,348,614
45 Net purchases, or sales (-), of stocks
and bonds -19,611 26,777
46 Foreign countries -19,024 26,814
47 Europe -12,108 15,407
48 Canada 2,943 4,849
49 Latin America and Caribbean 4,315 4,562
50 Asia -11,869 1,591
51 Japan -20,116 -9,119
52 Africa -558 -379
53 Other countries -1,747 784
54 Nonmonetary international and
regional organizations -587 -37
2003 2002
Transaction and area or country Jan.-
May Nov.
U.S. corporate securities
STOCKS
1 Foreign purchase 1,161,356 264,363(r)
2 Foreign sale 1,152,568 257,887(r)
3 Net purchases or Sides (-) 8,788 6,476(r)
4 Foreign countries 8,836 6,469(r)
5 Europe 2,845 4,407(r)
6 France 1,187 -323
7 Germany -1,286 31
8 Netherlands 114 629
9 Switzerland -2,539 1,581
10 United Kingdom -1,483 2,062
11 Channel Islands and Isle of Man (1) -47 23
12 Canada 4,368 46(r)
13 Latin America and Caribbean -1,089 2,687(r)
14 Middle East (2) -122 -232
15 Other Asia 4,954 -773(r)
16 Japan -387 -961
17 Africa 31 -16
18 Other countries -2,151 350
19 Nonmonetary international and
regional organizations -48 7
BONDS (3)
20 Foreign purchase 1,434,748 258,716(r)
21 Foreign sales 1,216,175 218,191(r)
22 Net purchases, or sales (-) 218,573 40,525(r)
23 Foreign countries 218,777 40,485(r)
24 Europe 113,055 16,687(r)
25 France 1,787 383
26 Germany 1,668 558
27 Netherlands 376 -61
28 Switzerland 4,676 743
29 United Kingdom 69,591 8,812
30 Channel Islands and Isle of Man (1) 17,107 4,917
31 Canada 1,004 -757
32 Latin America and Caribbean 38,619 5,471
33 Middle East (2) 386 387
34 Other Asia 64,575 18,374
35 Japan 22,509 10,456
36 Africa 1,169 56
37 Other countries -31 267
38 Nonmonetary international and
regional organizations -204 40
39 Stocks, net purchases, or sales (-) -25,546 -981
40 Foreign purchases 469,263 101,821
41 Foreign sale 494,809 102,802
42 Bonds, net purchases, or sales (-) 22,319 2,269
43 Foreign purchase 778,364 137,931
44 Foreign sales 756,045 135,662
45 Net purchases, or sales (-), of stocks
and bonds -3,227 1,288
46 Foreign countries -3,217 1,300
47 Europe 5,503 6,105
48 Canada 5,697 -167
49 Latin America and Caribbean -15,826 518
50 Asia 1,815 -5,256
51 Japan 2,659 -6,617
52 Africa -68 100
53 Other countries -338 0
54 Nonmonetary international and
regional organizations -10 -12
2002 2003
Transaction and area or country
Dec. Jan. (r)
U.S. corporate securities
STOCKS
1 Foreign purchase 216,726(r) 216,731
2 Foreign sale 214,287(r) 219,527
3 Net purchases or Sides (-) 2,439(r) -2,796
4 Foreign countries 2,423(r) -2,773
5 Europe 4,882(r) 2,186
6 France 676 206
7 Germany 517(r) -63
8 Netherlands 792 366
9 Switzerland 909 -724
10 United Kingdom 784 -2,761
Channel Islands and Isle of Man (1) -22 -2
12 Canada 746 1,481
13 Latin America and Caribbean -2,324(r) -3,104
14 Middle East (2) 71 -72
15 Other Asia -894 1,287
16 Japan -1,131 561
17 Africa -20 38
18 Other countries -38 -217
19 Nonmonetary international and
regional organizations 16 -23
BONDS (3)
20 Foreign purchase 207,380 228,232
21 Foreign sales 178,510 180,540
22 Net purchases, or sales (-) 28,870 47,692
23 Foreign countries 28,684 47,836
24 Europe 10,526 27,938
25 France -434 1,092
26 Germany 1,249 545
27 Netherlands -19 118
28 Switzerland 304 1,154
39 United Kingdom 6,768 15,960
30 Channel Islands and Isle of Man (1) 959 5,420
31 Canada -2,180 -892
32 Latin America and Caribbean 7,379 6,564
33 Middle East (2) -120 591
34 Other Asia 12,944 13,593
35 Japan 4,863 4,025
36 Africa 28 53
37 Other countries 107 -11
38 Nonmonetary international and
regional organizations 186 -144
39 Stocks, net purchases, or sales (-) -2,751 -6,893
40 Foreign purchases 81,804 94,622
41 Foreign sale 84,555 101,515
42 Bonds, net purchases, or sales (-) -5,157 -1,915
43 Foreign purchase 117,917 140,513
44 Foreign sales 123,074 142,428
45 Net purchases, or sales (-), of stocks
and bonds -7,908 -8,808
46 Foreign countries -7,922 -8,829
47 Europe -9,095 -5,090
48 Canada 712 3,890
49 Latin America and Caribbean 1,045 -7,886
50 Asia -987 -261
51 Japan -2,039 -1,233
52 Africa 40 -55
53 Other countries 363 573
54 Nonmonetary international and
regional organizations 14 21
2003
Transaction and area or country
Feb. (r) Mar. (r)
U.S. corporate securities
STOCKS
1 Foreign purchase 201,408 236,668
2 Foreign sale 203,486 233,828
3 Net purchases or Sides (-) -2,078 2,840
4 Foreign countries -2,080 2,860
5 Europe 1,900 1,360
6 France 270 1,816
7 Germany -65 -780
8 Netherlands -75 651
9 Switzerland -990 -22
10 United Kingdom 1,938 -258
Channel Islands and Isle of Man (1) -17 -42
12 Canada -1,594 2,376
13 Latin America and Caribbean -2,253 -1,538
14 Middle East (2) -21 -51
15 Other Asia 2,774 478
16 Japan 1,008 -60
17 Africa -9 -29
18 Other countries -2,877 264
19 Nonmonetary international and
regional organizations 2 -20
BONDS (3)
20 Foreign purchase 207,404 307,241
21 Foreign sales 184,293 263,003
22 Net purchases, or sales (-) 23,111 44,238
23 Foreign countries 23,276 44,307
24 Europe 16,528 20,639
25 France 63 142
26 Germany 999 -180
27 Netherlands 611 -2
28 Switzerland 859 1,034
39 United Kingdom 6,826 14,772
30 Channel Islands and Isle of Man (1) 1,533 4,138
31 Canada 193 1,169
32 Latin America and Caribbean -6,379 10,217
33 Middle East (2) 42 37
34 Other Asia 12,767 11,038
35 Japan 4,566 1,456
36 Africa 80 779
37 Other countries 45 428
38 Nonmonetary international and
regional organizations -165 -69
39 Stocks, net purchases, or sales (-) -4,474 -5,365
40 Foreign purchases 83,683 91,102
41 Foreign sale 88,157 96,467
42 Bonds, net purchases, or sales (-) 4,493 7,315
43 Foreign purchase 122,893 166,837
44 Foreign sales 118,400 159,522
45 Net purchases, or sales (-), of stocks
and bonds 19 1,950
46 Foreign countries -77 1,969
47 Europe -1,592 6,268
48 Canada 603 -302
49 Latin America and Caribbean 862 -3,381
50 Asia 194 -971
51 Japan -1,147 1,557
52 Africa -34 27
53 Other countries -110 328
54 Nonmonetary international and
regional organizations 96 -19
2003
Transaction and area or country
Apr. (r) May. (p)
U.S. corporate securities
STOCKS
1 Foreign purchase 233,275 273,274
2 Foreign sale 228,918 266,809
3 Net purchases or Sides (-) 4,357 6,465
4 Foreign countries 4,360 6,469
5 Europe 250 1,521
6 France -1,647 642
7 Germany -118 -260
8 Netherlands -1,090 262
9 Switzerland 98 -901
10 United Kingdom 779 -1,181
Channel Islands and Isle of Man (1) 44 -30
12 Canada 2,540 -435
13 Latin America and Caribbean 1,230 4,576
14 Middle East (2) -7 29
15 Other Asia -73 488
16 Japan -1,093 -803
17 Africa 68 -37
18 Other countries 352 327
19 Nonmonetary international and
regional organizations -3 -4
BONDS (3)
20 Foreign purchase 307,274 384,597
21 Foreign sales 265,109 323,230
22 Net purchases, or sales (-) 42,165 61,367
23 Foreign countries 41,755 61,603
24 Europe 25,309 22,641
25 France 362 128
26 Germany 45 259
27 Netherlands -604 253
28 Switzerland 1,263 366
39 United Kingdom 17,009 15,024
30 Channel Islands and Isle of Man (1) 2,696 3,320
31 Canada -894 1,428
32 Latin America and Caribbean 1,965 26,252
33 Middle East (2) -19 -265
34 Other Asia 15,861 11,316
35 Japan 8,579 3,883
36 Africa 147 110
37 Other countries -614 121
38 Nonmonetary international and
regional organizations 410 -236
39 Stocks, net purchases, or sales (-) 2,071 -10,885
40 Foreign purchases 100,060 99,796
41 Foreign sale 97,989 110,681
42 Bonds, net purchases, or sales (-) -1,211 13,637
43 Foreign purchase 151,872 196,249
44 Foreign sales 153,083 182,612
45 Net purchases, or sales (-), of stocks
and bonds 860 2,752
46 Foreign countries 947 2,773
47 Europe 4,432 1,485
48 Canada -600 2,106
49 Latin America and Caribbean -6,270 849
50 Asia 3,456 -603
51 Japan 2,218 1,564
52 Africa -11 5
53 Other countries -60 -1,069
54 Nonmonetary international and
regional organizations -87 -21
(1.) Before January 2001, data included in United Kingdom.
(2.) Comprises oil-exporting countries as follows: Bahrain, Iran,
Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates
(Trucial States).
(3.) Includes state and local government securities and securities
of U.S. government agencies and corporations. Also includes issues of
new debt securities sold abroad by U.S. corporations organized to
finance direct in investments abroad.
3.25 MARKETABLE U.S. TREASURY BONDS AND NOTES
Foreign Transactions (1)
Millions of dollars; net purchases, or sales (-) during period
Area or country 2001 2002
1 Total estimated 18,514 120,537(r)
2 Foreign countries 19,200 118,526(r)
3 Europe -20,604 43,008(r)
4 Belgium (2) -598 2,046
5 Germany -1,668 -3,910
6 Luxembourg (2) 462 -1,609
7 Netherlands -6,728 -17,020
8 Sweden -1,190 2,923
9 Switzerland 1,412 -508
10 United Kingdom -7,279 60,995
11 Channel Islands and Isle of Man (3) -179 714
12 Other Europe and former U.S.S.R. -4,836 -623(r)
13 Canada -1,634 -5,198
14 Latin America and Caribbean 4,272 21,116
15 Venezuela 290 -59
16 Other Latin America and Caribbean 14,726 21,955
17 Netherlands Antilles -10,744 -780
18 Asia 36,332 55,850
19 Japan 16,114 30,730
20 Africa -880 841
21 Other 1,714 2,909
22 Nonmonetary international and regional -686 2,011
organizations
23 International -290 1,642
24 Latin American Caribbean regional 41 -3
MEMO
25 Foreign countries 19,200 118,526(r)
26 Official institutions 3,474 9,809(r)
27 Other foreign 15,726 108,717(r)
Oil-exporting countries
28 Middle East 865 -3,918
29 Africa (5) -2 29
2003 2002
Jan.-
Area or country May Nov.
1 Total estimated 74,022 20,337(r)
2 Foreign countries 73,670 20,417(r)
3 Europe 10,442 8,087(r)
4 Belgium (2) -435 513
5 Germany 2,910 1,658
6 Luxembourg (2) 549 -139
7 Netherlands 4,926 1,427
8 Sweden 1,376 1,652
9 Switzerland -104 2,389
10 United Kingdom 964 -45
11 Channel Islands and Isle of Man (3) 716 -299
12 Other Europe and former U.S.S.R. -460 931(r)
13 Canada -1,284 3,165
14 Latin America and Caribbean 15,453 -1,758
15 Venezuela 190 -1
16 Other Latin America and Caribbean 14,159 319
17 Netherlands Antilles 1,104 -2,076
18 Asia 48,529 10,607
19 Japan 37,397 2,120
20 Africa 93 -17
21 Other 437 333
22 Nonmonetary international and regional 352 -80
organizations
23 International 397 314
24 Latin American Caribbean regional -124 -19
MEMO
25 Foreign countries 73,670 20,417(r)
26 Official institutions 19,322 15,817(r)
27 Other foreign 54,348 4,600
Oil-exporting countries
28 Middle East -7,369 -139
29 Africa (5) 0 1
2002 2003
Area or country Dec. Jan. (r)
1 Total estimated 13,638(r) 2,819
2 Foreign countries 13,309(r) 2,436
3 Europe 2,534(r) 1,958
4 Belgium (2) -193 3,371
5 Germany 1,610 -1,183
6 Luxembourg (2) -201 75
7 Netherlands 3,261 -4,085
8 Sweden 902 422
9 Switzerland -2,543 -86
10 United Kingdom 2,739 1,313
11 Channel Islands and Isle of Man (3) -84 -11
12 Other Europe and former U.S.S.R. 2,521(r) 2,142
13 Canada 1,028 -698
14 Latin America and Caribbean 6,074 -1,891
15 Venezuela -73 20
16 Other Latin America and Caribbean 1,652 2,676
17 Netherlands Antilles 4,495 4,587
18 Asia 3,626 2,630
19 Japan 2,731 3,512
20 Africa 90 84
21 Other -43 353
22 Nonmonetary international and regional 329 383
organizations
23 International 164 170
24 Latin American Caribbean regional 0 -15
MEMO
25 Foreign countries 13,309(r) 2,436
26 Official institutions 5,523(r) 312
27 Other foreign 7,786(r) 2,124
Oil-exporting countries
28 Middle East -3,815 509
29 Africa (5) 55 0
2003
Area or country Feb. (r) Mar. (r)
1 Total estimated -2,421 26,390
2 Foreign countries -2,177 26,441
3 Europe -5,238 649
4 Belgium (2) -1,379 -2,722
5 Germany -257 -270
6 Luxembourg (2) 358 83
7 Netherlands 1,360 959
8 Sweden 190 522
9 Switzerland -1,050 1,067
10 United Kingdom -2,912 3,256
11 Channel Islands and Isle of Man (3) 9 37
12 Other Europe and former U.S.S.R. -1,557 -2,283
13 Canada -1,871 1,782
14 Latin America and Caribbean 3,384 11,179
15 Venezuela 97 23
16 Other Latin America and Caribbean 2,323 8,550
17 Netherlands Antilles 964 2,606
18 Asia 2,287 12,246
19 Japan 5,580 -1,221
20 Africa -43 -16
21 Other -696 601
22 Nonmonetary international and regional -244 -51
organizations
23 International -130 -109
24 Latin American Caribbean regional -38 -28
MEMO
25 Foreign countries -2,177 26,441
26 Official institutions 4,823 1,322
27 Other foreign -7,000 25,119
Oil-exporting countries
28 Middle East -4,252 128
29 Africa (5) 0 0
2003
Area or country Apr. (r) May. (p)
1 Total estimated 8,325 38,909
2 Foreign countries 8,377 38,593
3 Europe 7,102 5,971
4 Belgium (2) 218 77
5 Germany 1,176 3,444
6 Luxembourg (2) 33 0
7 Netherlands 4,425 2,267
8 Sweden -240 482
9 Switzerland -784 749
10 United Kingdom -6 -687
11 Channel Islands and Isle of Man (3) 140 541
12 Other Europe and former U.S.S.R. 2,140 -902
13 Canada 820 -1,317
14 Latin America and Caribbean -7,150 9,931
15 Venezuela 13 37
16 Other Latin America and Caribbean -5,850 6,460
17 Netherlands Antilles -1,313 3,434
18 Asia 7,389 23,977
19 Japan 5,557 23,969
20 Africa 127 -59
21 Other 89 90
22 Nonmonetary international and regional -52 316
organizations
23 International 85 381
24 Latin American Caribbean regional -37 -6
MEMO
25 Foreign countries 8,377 38,593
26 Official institutions -810 13,675
27 Other foreign 9,187 24,918
Oil-exporting countries
28 Middle East -2,606 -1,148
29 Africa (5) 0 0
(1.) Official and private transactions in marketable U.S. Treasury
securities having an original maturity of more than one year. Data
are based on monthly transactions reports. Excludes nonmarketable U.S.
Treasury bonds and notes held by official institutions of foreign
countries.
(2.) Before January 2001, combined data reported for Belgium and
Luxembourg.
(3.) Before January 2001, these data were included in the data
reported for the United Kingdom.
(4.) Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi
Arabia, and United Arab Emirates (Trucial States).
(5.) Comprises Algeria, Gabon, Libya, and Nigeria.
3.28 FOREIGN EXCHANGE RATES AND INDEXES OF FOREIGN EXCHANGE
VALUE OF THE U.S. DOLLAR (1)
Currency units per U.S. dollar except as noted
Item 2000 2001
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 58.15 51.69
2 Brazil/real 1.8301 2.3527
3 Canada/dollar 1.4855 1.5487
4 China, P.R./yuan 8.2784 8.2770
5 Denmark/krone 8.0953 8.3323
6 European Monetary Union/euro (3) 0.9232 0.8952
7 Greece drachma 365.92 n.a.
8 Hong Kong/dollar 7.7924 7.7997
9 India/rupee 45.00 47.22
10 Japan/yen 107.80 121.57
11 Malaysia/ringgit 3.8000 3.8000
12 Mexico/peso 9.459 9.337
13 New Zealand/dollar (2) 45.68 42.02
14 Norway/krone 8.8131 8.9964
15 Singapore/dollar 1.7250 1.7930
16 South Africa/rand 6.9468 8.6093
17 South Koreal/won 1,130.90 1,292.01
18 Sri Lanka/rupee 76.964 89.602
19 Sweden/krona 9.1735 10.3425
20 Switzerland/franc 1.6904 1.6891
21 Taiwan/dollar 31.260 33.824
21 Thailand/baht 40.210 44.532
23 United Kingdom/pound (2) 151.56 143.96
24 Venezuela/bolivar 680.52 724.10
Indexes (4)
NOMINAL
25 Broad (January 1997=100) (5) 119.68 126.08
26 Major currencies (March 1973=100)
(6) 98.31 104.28
27 Other important trading partners
(January 1997=100) (7) 130.34 136.36
REAL
28 Broad (March 1973=100) (5) 104.47 (r) 110.50 (r)
29 Major currencies (March 1973=100) 103.29 110.73
(6)
30 Other important trading partners
(March 1973=100) (7) 114.81 (r) 119.47 (r)
2003
Item 2002 Feb.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 54.37 59.56
2 Brazil/real 2.9213 3.5955
3 Canada/dollar 1.5704 1.5121
4 China, P.R./yuan 8.2770 8.2780
5 Denmark/krone 7.8862 6.8920
6 European Monetary Union/euro (3) 0.9454 1.0785
7 Greece drachma n.a. n.a.
8 Hong Kong/dollar 7.7997 7.7995
9 India/rupee 48.63 47.75
10 Japan/yen 125.22 119.34
11 Malaysia/ringgit 3.8000 3.8000
12 Mexico/peso 9.663 10.945
13 New Zealand/dollar (2) 46.45 55.39
14 Norway/krone 7.9839 7.0004
15 Singapore/dollar 1.7908 1.7451
16 South Africa/rand 10.5176 8.2858
17 South Koreal/won 1,250.31 1,190.37
18 Sri Lanka/rupee 95.773 96.880
19 Sweden/krona 9.7233 8.4837
20 Switzerland/franc 1.5567 1.3602
21 Taiwan/dollar 34.536 34.734
21 Thailand/baht 43.019 42.897
23 United Kingdom/pound (2) 150.25 160.79
24 Venezuela/bolivar 1,161.19 1,736.21
Indexes (4)
NOMINAL
25 Broad (January 1997=100) (5) 127.19 124.12
26 Major currencies (March 1973=100)
(6) 102.85 95.02
27 Other important trading partners
(January 1997=100) (7) 141.42 147.35
REAL
28 Broad (March 1973=100) (5) 110.88 (r) 107.91 (r)
29 Major currencies (March 1973=100)
(6) 109.36 (r) 101.47 (r)
30 Other important trading partners
(March 1973=100) (7) 122.29 (r) 125.96 (r)
2003
Item Mar. Apr.
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 60.15 61.00
2 Brazil/real 3.4567 3.1090
3 Canada/dollar 1.4761 1.4582
4 China, P.R./yuan 8.2773 8.2772
5 Denmark/krone 6.8807 6.8381
6 European Monetary Union/euro (3) 1.0797 1.0862
7 Greece drachma n.a. n.a.
8 Hong Kong/dollar 7.7991 7.7996
9 India/rupee 47.68 47.39
10 Japan/yen 118.69 119.90
11 Malaysia/ringgit 3.8000 3.8000
12 Mexico/peso 10.905 10.589
13 New Zealand/dollar (2) 55.37 55.18
14 Norway/krone 7.2760 7.2032
15 Singapore/dollar 1.7551 1.7771
16 South Africa/rand 8.0506 7.6634
17 South Koreal/won 1,237.20 1,231.10
18 Sri Lanka/rupee 96.943 97.004
19 Sweden/krona 8.5440 8.4314
20 Switzerland/franc 1.3614 1.3783
21 Taiwan/dollar 34.721 34.824
21 Thailand/baht 42.783 42.929
23 United Kingdom/pound (2) 158.25 157.39
24 Venezuela/bolivar 1,600.00 1,600.00
Indexes (4)
NOMINAL
25 Broad (January 1997=100) (5) 123.56 122.54
26 Major currencies (March 1973=100)
(6) 94.28 93.98
27 Other important trading partners
(January 1997=100) (7) 147.26 145.15
REAL
28 Broad (March 1973=100) (5) 107.71 (r) 106.62 (r)
29 Major currencies (March 1973=100)
(6) 101.84 (r) 100.35 (r)
30 Other important trading partners
(March 1973=100) (7) 126.42 (r) 124.31 (r)
2003
Item May June
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 64.68 66.52
2 Brazil/real 2.9517 2.8887
3 Canada/dollar 1.3840 1.3525
4 China, P.R./yuan 8.2769 8.2771
5 Denmark/krone 6.4268 6.3620
6 European Monetary Union/euro (3) 1.1556 1.1674
7 Greece drachma n.a. n.a.
8 Hong Kong/dollar 7.7991 7.7988
9 India/rupee 47.11 46.70
10 Japan/yen 117.37 118.33
11 Malaysia/ringgit 3.8000 3.8000
12 Mexico/peso 10.253 10.503
13 New Zealand/dollar (2) 57.56 58.15
14 Norway/krone 6.8145 7.0093
15 Singapore/dollar 1.7357 1.7351
16 South Africa/rand 7.6604 7.8588
17 South Koreal/won 1,201.23 1,194.14
18 Sri Lanka/rupee 97.231 97.236
19 Sweden/krona 7.9213 7.8116
20 Switzerland/franc 1.3111 1.3196
21 Taiwan/dollar 34.697 34.633
21 Thailand/baht 42.217 41.675
23 United Kingdom/pound (2) 162.24 166.09
24 Venezuela/bolivar 1,600.00 1,600.00
Indexes (4)
NOMINAL
25 Broad (January 1997=100) (5) 118.54 117.93
26 Major currencies (March 1973=100)
(6) 89.67 88.68
27 Other important trading partners
(January 1997=100) (7) 142.75 143.07
REAL
28 Broad (March 1973=100) (5) 103.12 (r) 102.80 (r)
29 Major currencies (March 1973=100)
(6) 95.53 (r) 94.57 (r)
30 Other important trading partners
(March 1973=100) (7) 122.56 (r) 123.22 (r)
2003
Item July
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar (2) 66.07
2 Brazil/real 2.8833
3 Canada/dollar 1.3821
4 China, P.R./yuan 8.2773
5 Denmark/krone 6.5425
6 European Monetary Union/euro (3) 1.1365
7 Greece drachma n.a.
8 Hong Kong/dollar 7.7990
9 India/rupee 46.22
10 Japan/yen 118.70
11 Malaysia/ringgit 3.8000
12 Mexico/peso 10.458
13 New Zealand/dollar (2) 58.64
14 Norway/krone 7.2924
15 Singapore/dollar 1.7551
16 South Africa/rand 7.5458
17 South Koreal/won 1,181.16
18 Sri Lanka/rupee 97.153
19 Sweden/krona 8.0929
20 Switzerland/franc 1.3611
21 Taiwan/dollar 34.396
21 Thailand/baht 41.808
23 United Kingdom/pound (2) 162.21
24 Venezuela/bolivar 1,600.00
Indexes (4)
NOMINAL
25 Broad (January 1997=100) (5) 119.11
26 Major currencies (March 1973=100)
(6) 90.42
27 Other important trading partners
(January 1997=100) (7) 142.84
REAL
28 Broad (March 1973=100) (5) 104.01
29 Major currencies (March 1973=100)
(6) 96.65
30 Other important trading partners
(March 1973=100) (7) 123.16
(1.) Averages of certified noon buying rates in New York for cable
transfers. Data in this table also appear in the Board's G.5 (405)
monthly statistical release. For ordering address, see inside front
cover.
(2.) U.S. cents per currency unit.
(3.) The euro is reported in place of the individual euro area
currencies. By convention, the rate is reported in U.S. dollars per
euro. The bilateral currency rates can be derived from the euro rate
by using the fixed conversion rates (in currencies per euro) as show
below:
Euro equals
13.7603 Austrian schillings
40.3399 Belgian francs
5.94573 Finnish markkas
6.55957 French francs
1.95583 German marks
.787564 Irish pounds
1936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
340.750 Greek drachmas
(4.) Starting with the March 2003 Bulletin, revised index values
resulting from the periodic revision of data that underlie the
calculated trade weights are reported. For more information on the
indexes of the foreign exchange value of the dollar, see Federal
Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
(5.) Weighted average of the foreign exchange value of the U.S. dollar
against the currencies of a broad group of the U.S. trading partners.
The weight for each currency is computed as an average of U.S.
bilateral import shares from and export shares to the issuing country
and of a measure of the importance to U.S. exporters of the country's
trade in third country markets.
(6.) Weighted average of the foreign exchange value of the U.S. dollar
against a subset of broad index currencies that circulate widely
outside the country of issue. The weight for each currency is its
broad index weight scaled so that the weights of the subset of
currencies in the index sum to one.
(7.) Weighted average of the foreign exchange value of the U.S. dollar
against a subset of broad index currencies that do not circulate widely
outside the country of issue. The weight for each currency is its broad
index weight scaled so that the weights of the subset of currencies
in the index sum to one.
4.34 RESIDENTIAL LENDING ACTIVITY OF FINANCIAL INSTITUTIONS
COVERED BY HMDA, 1990-2002
Number
Item 1990 (1) 1991 1992 1993 1994
1 Loans or applications
(millions) (2) 6.59 7.89 12.01 15.38 12.19
2 Reporting institutions 9,332 9,358 9,073 9,650 9,858
3 Disclosure reports 24,041 25,934 28,782 35,976 38,750
1995 1996 1997 1998
1 Loans or applications
(millions) (2) 11.23 14.81 16.41 24.66
2 Reporting institutions 9,539 9,328 7,925 7,836
3 Disclosure reports 36,611 42,946 47,416 57,294
1999 2000 2001 2002
1 Loans or applications
(millions) (2) 22.90 19.24 27.58 31.24
2 Reporting institutions 7,832 7,713 7,631 7,771
3 Disclosure reports 56,966 52,776 53,066 56,506
(1.) Before 1990, includes only home puchase, home refinancing, and
home-improvement loans originated by covered institutions; beginning in
1990 (first year under revised reporting system), includes such loans
originated and purchased, applications approved but not accepted by the
applicant, applications denied or withdrawn, and applications closed
because information was incomplete.
(2.) Revised from preliminary data published in Glenn B. Canner and
Dolores S. Smith, "Home Mortgage Disclosure Act: Expanded Data on
Residential Lending," Federal Reserve Bulletin, vol. 77 (November
1991), p. 861, to reflect corrections and the reporting of additional
data.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.35 APPLICATIONS FOR HOME LOANS REPORTED UNDER HMDA, 2002
By Type of Dwelling, Purpose of Loan, and Loan Program
Thousands
One- to four- family dwellings
Home Home Home
Loan program purchase refinancing improvement All
1 FHA 924.3 545.2 11.7 1,481.2
2 VA 187.7 202.3 * 390.3
3 FSA/RHS 25.4 2.8 * 28.3
4 Conventional 6,262.3 16,692.5 1,532.7 24,487.5
5 Total 7,399.8 17,442.8 1,544.9 26,387.4
Multifamily
dwellings (1) All
1 FHA * 1,481.5
2 VA * 390.3
3 FSA/RHS * 28.3
4 Conventional 53.0 24,540.5
5 Total 53.2 26,440.7
* Fewer than 500.
(1.) Multifamily dwellings are those for five or more families.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.36 HOME LOANS ORIGINATED BY LENDERS REPORTED UNDER HMDA, 2002
By Type of Dwelling, Purpose of Loan, and Type of Lender
Percent
One- to four-family dwellings
Home purchase
FHA- VA- Conven-
Type of lender insured guaranteed FSA/RHS tional
1 Commercial bank 8.8 11.7 15.2 22.7
2 Savings association 6.3 7.6 8.1 13.7
3 Credit union .2 1.1 .5 2.2
4 Mortgage company (2) 84.8 79.6 76.2 61.4
5 Total 100 100 100 100
MEMO
Distribution of loans
6 Number 702,382 150,189 18,935 4,224,360
7 Percent 4.4 .9 .1 26.2
One- to
four-
family
dwellings
Home
purchase
Home
Home improve-
All refinancing ment All
1 Commercial bank 20.4 23.9 62.6 24.5
2 Savings association 12.5 15.6 6.9 14.2
3 Credit union 1.8 3.6 17.2 3.7
4 Mortgage company (2) 65.3 56.9 13.3 57.6
5 Total 100 100 100 100
MEMO
Distribution of loans
6 Number 5,095,866 10,256,766 717,845 16,070,477
7 Percent 31.6 63.7 4.5 99.7
Multi-
family
dwellings (1) All
1 Commercial bank 52.7 24.6
2 Savings association 36.6 14.3
3 Credit union .6 3.7
4 Mortgage company (2) 10.1 57.5
5 Total 100 100
MEMO
Distribution of loans
6 Number 41,465 16,111,942
7 Percent .3 100.0
* Less than .05 percent.
(1.) Multifamily dwellings are those for five or more families.
(2.) Comprises all covered mortgage companies, including those
affiliated with a commercial bank, savings association, or credit
union.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.37 APPLICATIONS FOR LOANS FOR ONE- TO FOUR-FAMILY HOMES REPORTED
UNDER HMDA, 2002
By Purpose of Loan and Characteristics of Applicant and Census Tract
Home purchase
Government-backed (1)
MEMO
Percentage of
characteristics's
home purchase
Characteristic Number Percent loans
APPLICANT
Racial/ethnic identity
1 American Indian or
Alaskan Native 6,118 .6 19.3
2 Asian or Pacific
Islander 16,914 1.6 5.8
3 Black 140,762 13.6 27.5
4 Hispanic 187,793 18.2 26.8
5 White 639,653 61.9 14.2
6 Other 13,706 1.3 13.7
7 All 29,153 2.8 18.5
8 Total 1,034,099 100.0 16.4
Income (percentage of
MSA median) (2)
9 Less than 50 140,813 14.5 24.1
10 50-79 351,357 36.2 26.0
11 80-99 185,485 19.1 21.5
12 100-119 121,778 12.5 16.6
13 120 or more 172,437 17.7 7.0
14 Total 971,870 100.0 16.2
CENSUS TRACT
Racial/ethnic
composition
(minorities as
percentage of
population)
15 Less than 10 382,126 39.4 13.8
16 10-19 220,003 22.7 16.0
17 20-49 237,132 24.5 18.1
18 50-79 74,183 7.7 17.8
19 80-100 55,534 5.7 18.8
20 Total 968,978 100.0 15.7
Income (3)
21 Low 20,442 2.1 14.9
22 Moderate 160,687 16.4 20.0
23 Middle 576,342 58.7 18.1
24 Upper 223,876 22.8 10.7
25 Total 981,347 100.0 15.8
Location (4)
26 Central city 453,600 45.5 17.6
27 Non-central city 542,493 54.5 14.6
25 Total 996,093 100.0 15.8
Home purchase
Conventional
MEMO
Percentage of
characteristic's
home purchase
Characteristic Number Percent loans
APPLICANT
Racial/ethnic identity
1 American Indian or
Alaskan Native 25,598 .5 80.7
2 Asian or Pacific
Islander 272,980 5.2 94.2
3 Black 371,386 7.1 72.5
4 Hispanic 512,786 9.7 73.2
5 White 3,862,930 73.4 85.8
6 Other 86,635 1.6 86.3
7 All 128,234 2.4 81.5
8 Total 5,260,549 100.0 83.6
Income (percentage of
MSA median) (2)
9 Less than 50 443,366 8.8 75.9
10 50-79 1,001,035 19.9 74.0
11 80-99 677,352 13.5 78.5
12 100-119 610,229 12.1 83.4
13 120 or more 2,297,993 45.7 93.0
14 Total 5,029,975 100.0 83.8
CENSUS TRACT
Racial/ethnic
composition
(minorities as
percentage of
population)
15 Less than 10 2,393,286 46.0 86.2
16 10-19 1,158,540 22.3 84.0
17 20-49 1,071,298 20.6 81.9
18 50-79 343,333 6.6 82.2
19 80-100 239,910 4.6 81.2
20 Total 5,206,367 100.0 84.3
Income (3)
21 Low 117,187 2.2 85.1
22 Moderate 643,881 12.3 80.0
23 Middle 2,603,910 49.8 81.9
24 Upper 1,864,153 35.6 89.3
25 Total 5,229,131 100.0 84.2
Location (4)
26 Central city 2,117,305 40.0 82.4
27 Non-central city 3,180,330 60.0 85.4
25 Total 5,297,635 100.0 84.2
Home refinancing Home improvement
Characteristic Number Percent Number Percent
APPLICANT
Racial/ethnic identity
1 American Indian or
Alaskan Native 52,672 .4 5,568 .6
2 Asian or Pacific
Islander 527,723 4.4 16,250 1.8
3 Black 767,187 6.4 89,342 9.6
4 Hispanic 888,858 7.4 98,042 10.6
5 White 9,196,608 77.1 688,476 74.4
6 Other 217,098 1.8 9,802 1.1
7 All 282,694 2.4 18,488 2.0
8 Total 11,932,840 100.0 925,968 100.0
Income (percentage of
MSA median) (2)
9 Less than 50 1,311,558 9.5 179,552 14.4
10 50-79 2,809,222 20.4 290,912 23.4
11 80-99 1,957,266 14.2 181,057 14.5
12 100-119 1,728,282 12.6 150,897 12.1
13 120 or more 5,959,057 43.3 443,088 35.6
14 Total 13,765,385 100.0 1,245,506 100.0
CENSUS TRACT
Racial/ethnic
composition
(minorities as
percentage of
population)
15 Less than 10 7,240,763 48.8 610,722 49.4
16 10-19 3,114,530 21.0 234,088 18.9
17 20-49 2,806,832 18.9 219,918 17.8
18 50-79 960,785 6.5 83,612 6.8
19 80-100 725,114 4.9 88,827 7.2
20 Total 14,848,024 100.0 1,237,167 100.0
Income (3)
21 Low 276,278 1.9 36,450 2.9
22 Moderate 1,740,265 11.7 195,264 15.4
23 Middle 7,567,123 50.8 685,205 54.1
24 Upper 5,321,540 35.7 350,570 27.7
25 Total 14,905,206 100.0 1,267,489 100.0
Location (4)
26 Central city 5,624,175 37.3 498,344 38.6
27 Non-central city 9,452,275 62.7 791,889 61.4
25 Total 15,076,450 100.0 1,290,233 100.0
NOTE. Lenders reported 26,440,691 applications for home loans in 2002.
Not all characteristics were reported for all applications; thus, the
number of applications being distributed by characteristic varies by
characteristic.
(1.) Loans backed by the Federal Housing Administration, the Department
of Veterans Affairs, or the Farmers Home Administration.
(2.) Median family income of the metropolitan statistical area (MSA) in
which the property related to the loan is located.
(3.) Census tracts are categorized by the median family income for the
tract relative to the median family income for the MSA in which the
tract is located. Categories are defined as follows: Low income, median
family income for census tract less than 50 percent of median family
income for MSA; Moderate income, median family income for census tract
at least 50 and less than 80 percent of MSA median; Middle income,
median family income at least 80 percent and less than 120 percent of
MSA median; Upper income, median family income 120 percent and greater
of MSA median.
(4.) For census tracts located in MSAs.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.38 APPLICATIONS FOR LOANS FOR ONE- TO FOUR-FAMILY HOMES REPORTED
UNDER HMDA, 2002
By Purpose of Loan with Denial Rate, and by Characteristics of
Applicant
Home purchase
Government- Conventional
backed (2)
Applicant Distri- Denial Distri- Denial
characteristic (1) bution rate bution rate
American Indian or Alaskan
Native
1 One male 38.2 9.2 36.3 23.5
2 Two males 1.9 5.3 2.4 17.6
3 One fenmle 29.0 10.6 29.6 25.6
4 Two females 1.4 7.2 2.0 30.2
5 One male and one female 29.6 10.2 29.8 20.8
6 Total (3) 100.0 9.8 100.0 23.3
Asian or Pacific Islander
7 One male 28.7 8.2 29.8 10.9
8 Two males 3.1 9.3 1.7 13.0
9 One female 19.9 8.4 21.5 11.5
10 Two females 2.4 13.2 1.3 11.2
11 One male and one female 45.8 8.2 45.7 8.0
12 Total (3) 100.0 8.4 100.0 9.8
Black
13 One male 30.2 13.5 33.7 26.7
14 Two males .9 15.1 .7 32.7
15 One female 41.0 13.0 39.0 27.4
16 Two females 2.1 14.0 1.7 34.5
17 One male and one female 25.8 12.4 24.9 23.3
18 Total (3) 100.0 13.0 100.0 26.3
Hispanic
19 One male 31.8 11.5 37.4 19.6
20 Two males 6.6 10.2 2.3 23.3
21 One female 15.9 11.7 22.0 18.7
22 Two females 2.2 11.6 1.4 22.5
23 One male and one female 43.5 10.7 36.9 15.9
24 Total (3) 100.0 11.1 100.0 18.2
White
25 One male 31.3 8.4 28.1 14.3
26 Two males 1.5 7.1 1.2 12.2
27 One female 20.5 7.7 19.8 14.1
28 Two female 1.3 7.7 1.0 15.8
29 One male and one female 45.4 6.6 49.9 8.9
30 Total (3) 100.0 7.4 100.0 11.6
All
31 One male 31.2 9.7 29.6 15.9
32 Two males 2.4 9.1 1.3 15.1
33 One female 22.6 9.6 21.6 16.2
34 Two females 1.6 10.1 1.1 18.6
15 One male and one female 42.2 7.9 46.4 10.0
36 Total (3) 100.0 8.9 100.0 13.3
Home refinancing Home improvement
Distri- Denial Distri- Denial
bution rate bution rate
American Indian or Alaskan
Native
1 One male 30.3 17.6 35.8 41.3
2 Two males 2.2 11.1 1.3 36.6
3 One fenmle 27.4 19.9 31.3 43.7
4 Two females 3.1 24.4 1.4 45.3
5 One male and one female 36.9 13.7 30.3 30.0
6 Total (3) 100.0 16.7 100.0 38.7
Asian or Pacific Islander
7 One male 20.3 12.2 29.5 41.2
8 Two males 1.3 13.0 1.5 40.7
9 One female 16.0 12.9 21.0 41.3
10 Two females 1.1 11.9 1.3 36.9
11 One male and one female 61.3 7.9 46.7 25.6
12 Total (3) 100.0 9.7 100.0 33.9
Black
13 One male 28.4 24.6 31.2 50.3
14 Two males .6 29.5 .5 49.8
15 One female 35.3 24.3 40.9 51.8
16 Two females 1.5 24.6 1.2 53.6
17 One male and one female 34.3 20.7 26.1 43.8
18 Total (3) 100.0 23.2 100.0 49.2
Hispanic
19 One male 27.6 20.3 37.3 52.5
20 Two males 1.9 19.3 1.2 49.4
21 One female 18.1 19.5 25.3 52.0
22 Two females 1.3 19.2 .9 51.4
23 One male and one female 51.1 16.7 35.4 40.1
24 Total (3) 100.0 18.3 100.0 48.0
White
25 One male 22.2 12.9 25.3 29.9
26 Two males .8 10.6 .8 28.5
27 One female 16.3 11.9 19.7 29.5
28 Two female .8 11.4 .8 28.7
29 One male and one female 59.9 7.9 53.4 19.0
30 Total (3) 100.0 9.7 100.0 24.0
All
31 One male 23.0 14.6 27.3 35.9
32 Two males .9 12.9 .8 33.6
33 One female 17.7 14.2 22.5 36.6
34 Two females .9 13.9 .9 35.1
15 One male and one female 57.5 9.0 48.5 22.1
36 Total (3) 100.0 11.3 100.0 29.4
(1.) Applicants are categorized by race of first applicant listed on
Loan Application Register, except for joint white and minority
applications, which are not shown in this table.
(2.) Loans backed by the Federal Housing Administration the Department
of Veterans Affairs, or the Farmers Home Administration.
(3.) Includes all applicants from racial or ethnic group regardless of
whether gender was reported.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.39 APPLICATIONS FOR HOME LOANS REPORTED UNDER HMDA, 2002
By Loan Program and Size of Dwelling
Percent
One-to four-family dwellings
Home purchase
Approved Approved
Type of loan and but not With- File
program accepted accepted Denied drawn closed Total
1 FHA 76.0 4.1 9.4 8.4 2.1 100
2 VA 80.0 3.8 7.1 7.8 1.3 100
3 FSA/RHS 74.5 5.9 12.4 5.6 1.6 100
4 Conventional 67.5 8.5 14.3 7.4 2.3 100
5 All 68.9 7.8 13.5 7.6 2.3 100
One-to four-family dwellings
Home improvement
Approved Approved
and but not With- File
accepted accepted Denied drawn closed Total
1 FHA 40.7 9.5 33.4 16.2 .3 100
2 VA 59.3 9.8 19.6 10.4 .9 100
3 FSA/RHS 72.7 6.8 12.9 4.5 3.0 100
4 Conventional 46.5 10.7 34.5 7.3 1.0 100
5 All 46.5 10.7 34.5 7.4 1.0 100
One-to four-family dwellings
Home refinancing
Approved Approved
and but not With- File
accepted accepted Denied drawn closed Total
1 FHA 69.6 7.3 7.5 10.6 4.9 100
2 VA 78.3 5.1 6.1 7.8 2.7 100
3 FSA/RHS 64.6 19.3 8.2 6.3 1.5 100
4 Conventional 58.2 8.6 17.7 11.9 3.6 100
5 All 58.8 8.5 17.3 11.8 3.6 100
Multifamily dwellings (1)
Approved Approved
and but not With- File
accepted accepted Denied drawn closed Total
1 FHA 83.5 1.8 8.0 6.7 * 100
2 VA * * * * * 100
3 FSA/RHS * * * * * 100
4 Conventional 77.9 3.9 10.3 6.3 1.7 100
5 All 77.9 3.9 10.3 6.3 1.7 100
NOTE. Loans approved and accepted were approved by the lender and
accepted by the applicant. Loans approved but not accepted were
approved by the lender but not accepted by the applicant. Applications
denied were denied by the lender, and applications withdrawn were
withdrawn by the applicant. When an application was left incomplete by
the applicant, the lender reported file closed and took no further
action.
* Less than .05 percent.
(1.) Multifamily dwellings are those for five or more families.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.40 APPLICATIONS FOR ONE- TO FOUR-FAMILY HOME LOANS REPORTED UNDER
HMDA, 2002
By Disposition of Loan and Characteristics of Applicant and Census
Tract
A. Home Puchase Loans
Percent
Government-backed (1)
Appr- With- File
Characteristic oved Denied drawn closed Total
APPLICANT
Racial or ethnic identity
1 American Indian or
Alaskan Native 77.7 9.8 9.2 3.4 100
2 Asian or Pacific
Islander 81.4 8.4 8.3 1.9 100
3 Black 76.2 13.0 8.6 2.2 100
4 Hispanic 76.6 11.1 9.6 2.8 100
5 White 84.7 7.4 6.4 1.5 100
6 Other 76.7 9.4 11.0 2.9 100
7 Joint (2) 83.1 7.8 7.5 1.6 100
Income ratio (percentage
of MSA median) (3)
8 Less than 50 76.8 12.9 8.1 2.2 100
9 American Indian or
Alaskan Native 77.4 11.9 8.2 2.5 100
10 Asian or Pacific
Islander 77.4 12.0 8.4 2.2 100
11 Black 73.3 15.8 8.5 2.5 100
12 Hispanic 75.4 13.6 8.7 2.3 100
13 White 80.9 10.6 6.6 1.9 100
14 Other 72.7 15.1 9.1 3.1 100
15 Joint (2) 69.0 17.2 10.0 3.8 100
16 50-79 82.5 8.5 7.2 1.8 100
17 American Indian or
Alaskan Native 81.7 8.7 6.7 2.9 100
18 Asian or Pacific
Islander 83.4 7.6 7.4 1.5 100
19 Black 78.1 12.0 7.9 2.1 100
20 Hispanic 79.3 10.1 8.3 2.3 100
21 White 86.2 6.7 5.6 1.5 100
22 Other 77.8 9.3 10.4 2.5 100
23 Joints (2) 82.1 8.6 7.4 1.9 100
24 80-119 84.1 7.1 7.2 1.6 100
25 American Indian or
Alaskan Native 81.1 9.0 7.6 2.3 100
26 Asian or Pacific
Islander 83.6 7.0 7.6 1.9 100
27 Black 79.8 10.7 7.8 1.8 100
28 Hispanic 79.4 9.5 8.8 2.3 100
29 White 87.8 5.5 5.5 1.3 100
30 Other 62.7 5.9 9.5 1.8 100
31 Joint (2) 85.0 7.0 6.6 1.4 100
32 120 or more 83.5 6.5 8.0 1.9 100
33 American Indian or
Alaskan Native 80.2 7.3 8.8 3.7 100
34 Asian or Pacific
Islander 82.8 7.2 8.6 1.4 100
35 Black 80.0 9.5 8.6 1.9 100
36 Hispanic 74.7 10.2 10.7 4.4 100
37 White 88.3 4.8 5.7 1.2 100
38 Other 82.1 5.5 10.3 2.1 100
39 Joint (2) 86.2 5.1 7.5 1.2 100
CENSUS TRACT
Racial or ethnic
composition
(minorities as
percentage of
population
40 Less than 10 84.6 7.5 6.4 1.5 100
41 10-19 83.0 7.9 7.4 1.7 100
42 20-49 80.6 8.7 8.9 1.8 100
43 51-79 76.8 11.2 9.7 2.3 100
44 80-100 72.5 13.0 11.6 2.9 100
Income (4)
45 Low 71.0 14.0 11.7 3.3 100
46 Moderate 78.4 10.5 8.8 2.3 100
47 Middle 82.6 8.2 7.4 1.8 100
48 Upper 82.9 7.4 7.9 1.8 100
Location (5)
49 Central city 80.7 8.9 8.4 2.0 100
50 Non-central city 82.6 267.0 195.6 62.4 100
Conventional
Appr- With- File
oved Denied drawn closed Total
APPLICANT
Racial or ethnic identity
1 American Indian or
Alaskan Native 66.2 23.3 7.5 2.9 100
2 Asian or Pacific
Islander 80.1 9.8 7.7 2.4 100
3 Black 61.9 26.3 8.4 3.5 100
4 Hispanic 70.5 18.2 8.1 3.3 100
5 White 80.7 11.6 6.1 1.7 100
6 Other 76.3 11.8 8.6 3.3 100
7 Joint (2) 78.8 11.4 7.8 2.0 100
Income ratio (percentage
of MSA median) (3)
8 Less than 50 61.7 28.8 6.7 2.7 100
9 American Indian or
Alaskan Native 54.5 35.5 6.7 3.3 100
10 Asian or Pacific
Islander 73.8 16.2 7.5 2.6 100
11 Black 53.3 35.4 7.5 3.8 100
12 Hispanic 60.6 29.0 7.0 3.4 100
13 White 68.9 23.9 5.2 2.0 100
14 Other 66.5 20.9 7.6 5.0 100
15 Joint (2) 53.4 31.9 12.0 2.6 100
16 50-79 74.2 16.5 6.7 2.6 100
17 American Indian or
Alaskan Native 68.2 21.7 6.9 3.2 100
18 Asian or Pacific
Islander 81.0 10.2 6.4 2.4 100
19 Black 62.9 25.1 7.9 4.2 100
20 Hispanic 69.2 20.2 7.2 3.4 100
21 White 79.9 12.9 5.3 1.8 100
22 Other 76.3 12.9 7.2 3.5 100
23 Joints (2) 70.2 19.0 8.3 2.6 100
24 80-119 79.4 11.3 6.9 2.4 100
25 American Indian or
Alaskan Native 72.9 15.7 8.4 2.9 100
26 Asian or Pacific
Islander 82.1 8.8 6.8 2.3 100
27 Black 67.4 20.3 8.5 3.9 100
28 Hispanic 73.0 16.2 7.7 3.2 100
29 White 84.0 8.7 5.6 1.7 100
30 Other 28.2 3.7 3.0 1.1 100
31 Joint (2) 79.6 11.0 7.3 2.1 100
32 120 or more 82.6 8.0 7.2 2.1 100
33 American Indian or
Alaskan Native 78.4 10.7 8.0 2.9 100
34 Asian or Pacific
Islander 81.1 8.7 7.7 2.5 100
35 Black 70.6 17.0 9.2 3.2 100
36 Hispanic 75.4 12.9 8.2 3.6 100
37 White 86.1 6.3 6.0 1.6 100
38 Other 79.1 9.6 8.5 2.8 100
39 Joint (2) 83.7 6.9 7.5 1.8 100
CENSUS TRACT
Racial or ethnic
composition
(minorities as
percentage of
population
40 Less than 10 81.3 10.4 6.5 1.9 100
41 10-19 78.9 11.3 7.5 2.3 100
42 20-49 75.2 13.9 8.2 2.7 100
43 51-79 70.4 17.6 8.8 3.2 100
44 80-100 63.4 22.7 10.0 3.9 100
Income (4)
45 Low 63.4 23.4 9.4 3.8 100
46 Moderate 69.8 19.1 8.1 3.0 100
47 Middle 77.4 13.1 7.2 2.3 100
48 Upper 82.4 8.2 7.3 2.1 100
Location (5)
49 Central city 76.1 13.6 7.7 2.6 100
50 Non-central city 79.1 11.3 7.1 2.2 100
B. Home Refinancing and Home-Improvement Loans
Home refinancing
Appr- With- File
Characteristic oved Denied drawn closed Total
APPLICANT
Racial or ethnic identity
1 American Indian or
Alaskan Native 66.2 16.7 11.9 5.2 100
2 Asian or Pacific
Islander 80.0 9.7 7.3 3.0 100
3 Black 59.9 23.2 10.9 5.9 100
4 Hispanic 65.5 18.3 10.6 5.7 100
5 White 79.9 9.7 7.2 3.1 100
6 Other 68.7 15.2 8.9 7.2 100
7 Joint (2) 76.9 11.0 8.8 3.3 100
Income ratio (percentage
of MSA median) (3)
8 Less than 50 49.1 30.7 15.3 5.0 100
9 American Indian or
Alaskan Native 50.2 27.8 16.4 5.6 100
10 Asian or Pacific
Islander 63.5 20.2 11.6 4.7 100
11 Black 47.1 31.8 13.5 7.6 100
12 Hispanic 52.9 27.5 13.5 6.0 100
13 White 66.2 17.7 10.7 5.4 100
14 Other 48.5 31.3 10.2 10.0 100
15 Joint (2) 51.2 23.8 18.2 6.8 100
16 50-79 61.1 21.2 13.4 4.2 100
17 American Indian or
Alaskan Native 63.1 19.1 12.5 5.3 100
18 Asian or Pacific
Islander 75.8 12.5 8.2 3.6 100
19 Black 56.0 25.6 11.8 6.5 100
20 Hispanic 63.2 20.5 11.0 5.2 100
21 White 75.8 11.8 8.3 4.0 100
22 Other 63.7 18.5 8.6 9.2 100
23 Joints (2) 67.1 15.7 12.4 4.8 100
24 80-119 67.7 16.6 12.0 3.7 100
25 American Indian or
Alaskan Native 68.5 15.4 11.2 5.0 100
26 Asian or Pacific
Islander 80.2 9.6 7.2 3.0 100
27 Black 60.2 22.9 11.0 5.9 100
28 Hispanic 66.1 18.4 10.5 5.1 100
29 White 80.1 9.4 7.2 3.3 100
30 Other 9.1 1.8 1.0 .9 100
31 Joint (2) 74.4 12.2 9.7 3.7 100
32 120 or more 75.4 11.9 9.6 3.2 100
33 American Indian or
Alaskan Native 72.9 13.0 9.6 4.5 100
34 Asian or Pacific
Islander 82.8 8.1 6.3 2.8 100
35 Black 64.8 19.9 10.0 5.4 100
36 Hispanic 68.0 15.7 9.5 6.7 100
37 White 83.9 7.3 6.2 2.6 100
38 Other 76.3 11.1 7.0 5.6 100
39 Joint (2) 80.8 8.9 7.5 2.8 100
CENSUS TRACT
Racial or ethnic
composition
(minorities as
percentage of
population
40 Less than 10 72.2 14.2 10.3 3.2 100
41 10-19 70.1 15.1 11.3 3.5 100
42 20-49 65.0 18.2 12.8 4.0 100
43 51-79 58.6 22.2 14.5 4.7 100
44 80-100 49.0 29.4 16.2 5.4 100
Income (4)
45 Low 48.9 30.6 15.4 5.2 100
46 Moderate 56.5 24.5 14.5 4.5 100
47 Middle 66.8 17.4 12.1 3.8 100
48 Upper 75.5 11.6 9.6 3.2 100
Location (5)
49 Central city 65.8 18.3 12.1 3.9 100
50 Non-central city 69.9 15.3 11.2 3.6 100
Home improvement
Appr- With- File
oved Denied drawn closed Total
APPLICANT
Racial or ethnic identity
1 American Indian or
Alaskan Native 57.2 38.7 3.4 .7 100
2 Asian or Pacific
Islander 60.6 33.9 4.2 1.3 100
3 Black 48.1 49.2 2.3 .4 100
4 Hispanic 48.5 48.0 2.9 .6 100
5 White 72.7 24.0 2.7 .6 100
6 Other 56.2 38.8 3.9 1.1 100
7 Joint (2) 69.3 27.2 2.9 .6 100
Income ratio (percentage
of MSA median) (3)
8 Less than 50 41.8 51.6 5.9 .7 100
9 American Indian or
Alaskan Native 42.3 53.4 4.1 .1 100
10 Asian or Pacific
Islander 37.3 58.5 3.7 .5 100
11 Black 38.8 58.9 1.9 .4 100
12 Hispanic 34.4 63.0 2.3 .4 100
13 White 59.4 37.6 2.6 .4 100
14 Other 33.0 62.9 3.3 .8 100
15 Joint (2) 45.7 49.1 4.6 .6 100
16 50-79 50.1 41.5 7.7 .8 100
17 American Indian or
Alaskan Native 57.5 39.4 2.5 .6 100
18 Asian or Pacific
Islander 52.7 42.0 4.2 1.2 100
19 Black 45.3 52.1 2.2 .4 100
20 Hispanic 41.7 55.1 2.7 .5 100
21 White 67.5 29.3 2.6 .6 100
22 Other 47.2 48.0 3.6 1.3 100
23 Joints (2) 58.9 38.3 2.5 .4 100
24 80-119 58.2 32.6 8.2 .9 100
25 American Indian or
Alaskan Native 60.9 35.4 3.1 .6 100
26 Asian or Pacific
Islander 62.0 33.1 3.8 1.1 100
27 Black 51.6 45.5 2.5 .5 100
28 Hispanic 51.1 45.2 3.1 .6 100
29 White 73.8 22.9 2.7 .7 100
30 Other 2.5 1.5 .2 .0 100
31 Joint (2) 68.9 28.0 2.4 .6 100
32 120 or more 66.3 25.2 7.4 1.2 100
33 American Indian or
Alaskan Native 66.0 28.8 4.1 1.2 100
34 Asian or Pacific
Islander 70.1 24.0 4.2 1.7 100
35 Black 57.7 39.1 2.7 .5 100
36 Hispanic 60.1 35.9 3.2 .7 100
37 White 78.8 17.6 2.7 .8 100
38 Other 68.1 27.1 3.9 .9 100
39 Joint (2) 73.8 22.7 3.0 .6 100
CENSUS TRACT
Racial or ethnic
composition
(minorities as
percentage of
population
40 Less than 10 64.1 27.8 7.0 1.1 100
41 10-19 57.3 33.6 8.0 1.1 100
42 20-49 50.2 40.1 8.8 .9 100
43 51-79 43.7 46.6 8.9 .9 100
44 80-100 38.2 52.6 8.3 .9 100
Income (4)
45 Low 38.1 54.5 6.5 .9 100
46 Moderate 46.4 45.4 7.3 .8 100
47 Middle 57.0 34.3 7.7 1.0 100
48 Upper 63.5 27.7 7.6 1.2 100
Location (5)
49 Central city 52.8 39.0 7.3 .9 100
50 Non-central city 59.0 32.3 7.7 1.0 100
NOTE. Applicant income ratio is applicant income as a percentage of MSA
median. MSA median is median family income of the metropolitan
statistical area (MSA) in which the properly related to the loan is
located.
(1.) Loans backed by the Federal Housing Administration, the Department
of Veterans Affairs, or the Farmers Home Administration.
(2.) White and minority.
(3.) MSA median is median family income of the metropolitan statistical
area (MSA) in which the property related to the loan is located.
(4.) Census tracts are categorized by the median family income for the
tract related to the median family income for the MSA in which the
tract is located. Categories are defined as follows: Low income, median
family income for census tract less than 50 percent of median family
income for MSA; Moderate income median family income for census tract
at least 50 percent and less than 80 percent of MSA median; Middle
income, median family income at least 80 percent and less than 120
percent of MSA median; Upper income, median family income 120 percent
unit greater of MSA median.
(5.) For census tracts located in MSAs.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.41 HOME LOANS SOLD, 2002 By Purchaser and Characteristics of
Borrower and Census Tract
Fannie Mae Ginnie Mae
Characteristic Number Percent Number
1 All 4,476,987 100.0 1,158,156
BORROWER
Racial or ethnic identity
2 American Indian or
Alaskan Native 12,926 .4 3,943
3 Asian or Pacific
Islander 172,198 5.1 14,024
4 Black 125,271 3.7 113,778
5 Hispanic 212,575 6.3 130,664
6 White 2,752,363 81.0 544,833
7 Other 44,676 1.3 11,700
8 Joint 79,589 2.3 25,646
9 Total 3,399,598 100.0 844,588
Income ratio (percentage of MSA
median)
10 Less than 50 217,396 6.4 77,909
11 50-79 664,660 19.5 216,118
12 80-99 516,142 15.1 121,863
13 100-119 474,041 13.9 82,729
14 120 or more 1,544,906 45.2 115,539
15 Total 3,417,145 100.0 614,158
CENSUS TRACT
Racial or ethnic composition
(minorities as percentage
of Population)
16 Less than 10 2,066,963 52.2 412,648
17 10-19 870,787 22.0 248,320
18 20-49 711,777 18.0 255,734
19 50-79 205,077 5.2 75,113
20 80-100 108,193 2.7 5,252
21 Total 3,962,797 100.0 1,044,067
Income
22 Low 43,715 1.1 15,613
23 Moderate 350,845 8.8 150,685
24 Middle 2,008,338 50.6 628,434
25 Upper 1,565,943 39.5 254,134
26 Total 3,968,841 100.0 1,048,866
Location
27 Central city 1,432,814 36.1 448,196
28 Non-central city 2,537,322 63.9 600,977
29 Total 3,970,136 100.0 1,049,173
Savings bank or savings Life
and loan association insurance
company
Characteristics Number Percent Number
30 All 190,883 100.0 19,596
BORROWER
Racial or ethnic identity
31 American Indian or
Alaskan Native 1,245 .8 34
32 Asian or Pacific
Islander 7,338 4.6 731
33 Black 10,034 6.3 1,397
34 Hispanic 12,822 8.0 994
35 White 123,753 77.1 12,167
36 Other 1,510 .9 195
37 Joint 3,788 2.4 2,044
38 Total 160,490 100.0 17,562
Income ratio (percentage of MSA
median) (1)
39 Less than 50 10,872 6.8 642
40 50-79 31,578 19.9 1,690
41 80-99 22,665 14.3 1,107
42 100-119 20,461 12.9 818
43 120 or more 73,346 46.2 13,254
44 Total 158,922 100.0 17,511
CENSUS TRACT
Racial or ethnic composition
(minorities as percentage
of population)
45 less than 10 84.915 48.6 9,935
46 10-19 38,987 22.3 4,297
47 20-49 32,860 18.8 3,138
48 50-79 10,832 6.2 755
49 80-100 7,051 4.0 433
50 Total 174,645 100.0 18,558
Income (2)
51 Low 2.961 1.7 163
52 Moderate 19,750 11.3 1,558
53 Middle 85,659 49.0 9,506
54 Upper 66,391 38.0 7,319
55 Total 174,761 100.0 18,546
Location
56 Central city 61597 35.2 5,407
57 Non-central city 113.253 64.8 13,154
58 Total 174.850 100.0 18,561
Ginnie Freddie Mac
Mae
Characteristic Percent Number Percent
1 All 100.0 2,990,374 100.0
BORROWER
Racial or ethnic identity
2 American Indian or
Alaskan Native .5 5,907 .2
3 Asian or Pacific
Islander 1.7 109,843 4.5
4 Black 13.5 68,155 2.8
5 Hispanic 15.5 114,331 4.7
6 White 64.5 2,009,477 82.5
7 Other 1.4 74,702 3.1
8 Joint 3.0 54,256 2.2
9 Total 100.0 2,436,671 100.0
Income ratio (percentage of MSA
medium)
10 Less than 50 12.7 134,875 5.9
11 50-79 35.2 414,769 18.2
12 80-99 19.8 326,799 14.4
13 100-119 13.5 313,698 13.8
14 120 or more 18.8 1,085,100 47.7
15 Total 100.0 2,275,241 100.0
CENSUS TRACT
Racial or ethnic composition
(minorities as percentage
of Population)
16 Less than 10 39.5 1,490,763 57.8
17 10-19 23.8 532,904 20.6
18 20-49 24.5 408,981 15.8
19 50-79 7.2 100,797 3.9
20 80-100 5.0 47,244 1.8
21 Total 100.0 2,580,689 100.0
Income
22 Low 1.5 21,833 .8
23 Moderate 14.4 195,615 7.6
24 Middle 59.9 1,297,900 50.2
25 Upper 24.2 1,069,654 41.4
26 Total 100.0 2,585,002 100.0
Location
27 Central city 42.7 888,599 34.4
28 Non-central city 57.3 1,697,398 65.6
29 Total 100.0 2,585,997 100.0
Life Affiliate
insurance
company
Characteristics Percent Number Percent
30 All 100.0 1,167,493 100.0
BORROWER
Racial or ethnic identity
31 American Indian or
Alaskan Native .2 2,893 .3
32 Asian or Pacific
Islander 4.2 45,825 5.4
33 Black 8.0 54,253 6.4
34 Hispanic 5.7 78,205 9.3
35 White 69.3 632,979 74.9
36 Other 1.1 10,595 1.3
37 Joint 11.6 20,457 2.4
38 Total 100.0 845,207 100.0
Income ratio (percentage of MSA
median) (1)
39 Less than 50 3.7 59,327 6.6
40 50-79 9.7 164,814 18.4
41 80-99 6.3 115,560 12.9
42 100-119 4.7 104,828 11.7
43 120 or more 75.7 449,770 50.3
44 Total 100.0 894,299 100.0
CENSUS TRACT
Racial or ethnic composition
(minorities as percentage
of population)
45 less than 10 53.5 478,599 45.8
46 10-19 23.2 247,011 23.7
47 20-49 16.9 212,523 20.4
48 50-79 4.1 63,768 6.1
49 80-100 2.3 42,296 4.1
50 Total 100.0 1,044,197 100.0
Income (2)
51 Low .9 17,289 1.6
52 Moderate 8.4 108,709 10.3
53 Middle 51.3 485,522 46.0
54 Upper 39.5 444,292 42.1
55 Total 100.0 1,055,812 100.0
Location
56 Central city 29.1 403,122 38.2
57 Non-central city 70.9 653,097 61.8
58 Total 100.0 1,056,219 100.0
FAMC Commercial
bank
Characteristic Number Percent Number
1 All 2,707 100.0 383,365
BORROWER
Racial or ethnic identity
2 American Indian or
Alaskan Native 11 .4 674
3 Asian or Pacific
Islander 61 2.4 14,118
4 Black 273 10.6 18,239
5 Hispanic 198 7.7 23,343
6 White 1,951 75.7 229,018
7 Other 30 1.2 2,856
8 Joint 54 2.1 7,212
9 Total 2,578 100.0 295,460
Income ratio (percentage of MSA
medium)
10 Less than 50 177 10.6 19,243
11 50-79 460 27.5 56,750
12 80-99 273 16.3 39,971
13 100-119 190 11.3 36,052
14 120 or more 575 34.3 148,866
15 Total 1,675 100.0 300,882
CENSUS TRACT
Racial or ethnic composition
(minorities as percentage
of Population)
16 Less than 10 1,035 50.0 166,390
17 10-19 353 17.1 83,500
18 20-49 384 18.6 66,017
19 50-79 138 6.7 17,945
20 80-100 159 7.7 11,143
21 Total 2,069 100.0 344,995
Income
22 Low 59 2.9 4,894
23 Moderate 235 11.4 34,839
24 Middle 1,274 61.5 159,493
25 Upper 502 24.3 147,421
26 Total 2,070 100.0 346,647
Location
27 Central city 708 33.9 127,183
28 Non-central city 1,381 66.1 219,707
29 Total 2,089 100.0 346,890
Other
Characteristics Number Percent
30 All 3,776,618 100.0
BORROWER
Racial or ethnic identity
31 American Indian or
Alaskan Native 13,519 .5
32 Asian or Pacific
Islander 122,267 4.4
33 Black 202,483 7.2
34 Hispanic 275,888 9.8
35 White 2,074,765 74.0
36 Other 39,859 1.4
37 Joint 74,697 2.7
38 Total 2,803,478 100.0
Income ratio (percentage of MSA
median) (1)
39 Less than 50 198,283 7.2
40 50-79 550,105 20.0
41 80-99 391,661 14.2
42 100-119 348,429 12.7
43 120 or more 1,261,402 45.9
44 Total 2,749,880 100.0
CENSUS TRACT
Racial or ethnic composition
(minorities as percentage
of population)
45 less than 10 1,485,369 43.7
46 10-19 783,304 23.0
47 20-49 741,971 21.8
48 50-79 231,202 6.8
49 80-100 159,965 4.7
50 Total 3,401,811 100.0
Income (2)
51 Low 62,055 1.8
52 Moderate 396,994 11.7
53 Middle 1,685,823 49.6
54 Upper 1,257,307 37.0
55 Total 3,402,179 100.0
Location
56 Central city 1,363,515 40.0
57 Non-central city 2,041,041 60.0
58 Total 3,404,556 100.0
Commercial
bank
Characteristic Percent
1 All 100.0
BORROWER
Racial or ethnic identity
2 American Indian or
Alaskan Native .2
3 Asian or Pacific
Islander 4.8
4 Black 6.2
5 Hispanic 7.9
6 White 77.5
7 Other 1.0
8 Joint 2.4
9 Total 100.0
Income ratio (percentage of MSA
medium)
10 Less than 50 6.4
11 50-79 18.9
12 80-99 13.3
13 100-119 12.0
14 120 or more 49.5
15 Total 100.0
CENSUS TRACT
Racial or ethnic composition
(minorities as percentage
of Population)
16 Less than 10 48.2
17 10-19 24.2
18 20-49 19.1
19 50-79 5.2
20 80-100 3.2
21 Total 100.0
Income
22 Low 1.4
23 Moderate 10.1
24 Middle 46.0
25 Upper 42.5
26 Total 100.0
Location
27 Central city 36.7
28 Non-central city 63.3
29 Total 100.0
NOTE. Includes securitized loans. See also notes to table 4.40.
Fannie Mae--Federal National Mortgage Association
Ginnie Mae--Government National Mortgage Assocation
Freddie Mac--Federal Home Loan Mortgage Corporation
FAMC--Federal Agricultural Mortgage Corporation
Affiliate--Affiliate of institution reporting the loan
(1.) Median family income of the metropolitan statistical area (MSA)
in which the property related to the loan is located.
(2.) Census tracts are categorized by the median family income for the
tract relative to the median family income for the MSA in which the
tract is located. Categories are defined as follows: Low income,
median family income for census tract less than 50 percent of median
family income for MSA; Moderate income, median family income for
census tract at least 50 percent and less than 80 percent of MSA
median; Middle income, median income at least 80 percent and less than
120 percent of MSA median; Upper income, median family income 120
percent and greater of MSA median.
SOURCE. FFIEC, Home Mortgage Disclosure Act.
4.411 LENDER SHARE AND DOLLAR VOLUME OF RESIDENTIAL-MORTGAGE
ORIGINATIONS, 1993-2002 (1)
Mortgage
companies
Year Savings Commercial Subsidiaries
institu- banks of banks or
tions (2) savings insti-
tutions (3)
Conventional one- to
four-family 19
1 1993 23 18 19
2 1994 26 21 25
3 1995 26 21 25
4 1996 26 21 26
5 1997 25 18 30
6 1998 24 16 29
7 1999 21 21 29
8 2000 21 23 33
9 2001 19 20 35
10 2002 19 17
FHA, VA, and RHS one- to
to four-family 26
11 1993 9 5 29
12 1994 10 6 34
13 1995 10 7 33
14 1996 10 6 37
15 1997 9 6 38
16 1998 7 5 41
17 1999 6 6 41
18 2000 5 8 43
19 2001 6 7 40
20 2002 7 6
Total one- to four-family 20
21 1993 21 16 20
22 1994 24 19 26
23 1995 24 19 26
24 1996 24 19 28
25 1997 23 17 31
26 1998 22 15 31
27 1999 19 19 31
28 2000 19 21 34
29 2001 17 18 36
30 2002 19 16
Total multifamily 6
31 1993 63 23 4
32 1994 62 30 4
33 1995 51 41 6
34 1996 50 38 6
35 1997 47 36 10
36 1998 41 36 8
37 1999 37 30 8
38 2000 39 38 7
39 2001 34 45 12
40 2002 41 42
Total residential 20
41 1993 22 16 20
42 1994 25 19 26
43 1995 24 19 26
44 1996 24 19 27
45 1997 24 17 31
46 1998 22 15 30
47 1999 20 20 30
48 2000 19 22 33
49 2001 18 19 35
50 2002 19 17
Mortgage
companies
Year Independently Credit Dollar volume
owned (4) unions (billions
of dollars)
Conventional one- to
four-family
1 1993 37 3 842
2 1994 31 3 539
3 1995 26 2 444
4 1996 26 3 555
5 1997 28 2 630
6 1998 28 2 1,163
7 1999 26 3 960
8 2000 25 2 783
9 2001 26 3 1,630
10 2002 26 3 2,325
FHA, VA, and RHS one- to
to four-family
11 1993 59 1 151
12 1994 54 1 86
13 1995 49 1 75
14 1996 50 1 95
15 1997 48 1 101
16 1998 49 1 150
17 1999 46 1 133
18 2000 45 1 110
19 2001 44 1 185
20 2002 46 0 180
Total one- to four-family
21 1993 40 3 993
22 1994 34 3 625
23 1995 30 2 519
24 1996 29 2 650
25 1997 30 2 731
26 1998 30 2 1,313
27 1999 29 2 1,093
28 2000 27 2 894
29 2001 28 2 1,815
30 2002 27 2 2,505
Total multifamily
31 1993 9 0 13
32 1994 5 0 15
33 1995 4 0 13
34 1996 7 0 16
35 1997 11 0 20
36 1998 13 0 28
37 1999 25 0 32
38 2000 15 0 27
39 2001 14 0 37
40 2002 5 0 41
Total residential
41 1993 40 3 1,006
42 1994 33 3 640
43 1995 29 2 532
44 1996 29 2 666
45 1997 30 2 751
46 1998 30 2 1,341
47 1999 29 2 1,125
48 2000 27 2 921
49 2001 28 2 1,852
50 2002 27 2 2,547
NOTE. Coverage of depository institutions declined in 1997 because of
an increase in the asset size threshold for exempt institutions from
$10 million to $28 million.
(1.) Based on the dollar volume of originations reported under the
Home Mortgage Disclosure Act. Originations insured or guaranteed by
the Rural Housing Service (RHS) include the former Farmers Home
Administration.
(2.) Includes savings and loan associations and savings banks.
(3). Includes mortgage company subsidiaries of a bank holding company
or a service corporation.
(4.) Coverage of independently owned mortgage companies expanded in
1993 when those companies with less than $10 million in assets but
with 100 or more home-purchase originations were included.
SOURCE. FFIEC, Home Mortgage Disclosure Act, 1990-2001.
4.42 APPLICATIONS RECEIVED AND POLICIES WRITTEN FOR PRIVATE
MORTGAGE INSURANCE, 1999-2002
By Insurance Company
1999 2000
Applic- Policies Applic-
Company ations written ations
1 Amerin Guaranty * * *
2 Commonwealth Mortgage Assurance * * *
3 Radian (1) 317,775 256,924 243,684
4 GE Capital Mortgage Insurance 304,365 221,970 259,285
5 Mortgage Guaranty Insurance 479,425 377,195 430,414
6 PMI Mortgage Insurance 267,470 212,177 254,327
7 Republic Mortgage Insurance 157,794 144,618 121,706
8 Triad Guaranty Insurance 43,633 33,116 44,165
9 United Guaranty 244,637 204,667 220,504
10 Total 1,815,099 1,450,667 1,574,085
2000 2001
Company Policies Applic- Policies
written ations written
1 Amerin Guaranty * * *
2 Commonwealth Mortgage Assurance * * *
3 Radian (1) 185,224 329,295 249,833
4 GE Capital Mortgage Insurance 185,995 380,588 286,471
5 Mortgage Guaranty Insurance 317,610 598,212 447,435
6 PMI Mortgage Insurance 206,444 353,044 285,949
7 Republic Mortgage Insurance 113,894 231,138 184,515
8 Triad Guaranty Insurance 32,870 73,126 60,731
9 United Guaranty 186,004 309,658 259,298
10 Total 1,228,041 2,275,061 1,774,232
2002
Company Policies
Applications written
1 Amerin Guaranty * *
2 Commonwealth Mortgage Assurance * *
3 Radian (1) 347,273 245,938
4 GE Capital Mortgage Insurance 436,146 303,918
5 Mortgage Guaranty Insurance 677,963 500,655
6 PMI Mortgage Insurance 391,496 309,923
7 Republic Mortgage Insurance 292,008 219,426
8 Triad Guaranty Insurance 98,927 83,985
9 United Guaranty 331,981 272,537
10 Total 2,575,794 1,936,382
(1.) Radian is the result of a merger between Amerin Guaranty and
Commonwealth Mortgage in 1999.
SOURCE. Federal Financial Institutions Examination Council.
4.43 APPLICATIONS RECEIVED AND POLICIES WRITTEN FOR PRIVATE MORTGAGE
INSURANCE, 2002
By Purpose of Loan and Insurance Company
Percent
Home purchase Home
Company refinance
Applic- Policies Applic-
ations written ations
1 Radian (1) 13.6 12.7 13.3
2 GE Capital Mortgage Insurance 17.1 16.0 16.7
3 Mortgage Guaranty Insurance 25.3 24.9 27.7
4 PMI Mortgage Insurance 15.0 15.6 15.5
5 Republic Mortgage Insurance 11.1 11.2 11.6
6 Triad Guaranty Insurance 3.9 4.3 3.8
7 United Guaranty 14.0 15.3 11.4
8 Total 100.0 100.0 100.0
MEMO
9 Number of applications or
policies 1,478,235 1,138,327 1,097,559
Home Total
Company refinance
Policies Applic- Policies
written ations written
1 Radian (1) 12.7 13.5 12.7
2 GE Capital Mortgage Insurance 15.2 16.9 15.7
3 Mortgage Guaranty Insurance 27.2 26.3 25.9
4 PMI Mortgage Insurance 16.5 15.2 16.0
5 Republic Mortgage Insurance 11.5 11.3 11.3
6 Triad Guaranty Insurance 4.4 3.8 4.3
7 United Guaranty 12.4 12.9 14.1
8 Total 100.0 100.0 100.0
Memo
9 Number of applications or
policies 798,055 2,575,794 1,936,382
(1.) Radian is the result of a merger between Amerin Guaranty and
Commonwealth Mortgage in 1999.
SOURCE. Federal Financial Institutions Examination Council.
4.44 APPLICATIONS FOR PRIVATE MORTGAGE INSURANCE, 2002
By Purpose of Loan and Characteristic of Applicant and Census Tract
Characteristic Home purchase
Number Percent
APPLICANT
Race or ethnic group
1 American Indian or Alaskan Native 3,711 .3
2 Asian or Pacific Islander 40,602 3.6
3 Black 73,348 6.5
4 Hispanic 121,954 10.8
5 White 808,093 71.4
6 Other 62,704 5.5
7 Joint (white and minority) 21,050 1.9
8 Total 1,131,462 100.0
Income (percentage of MSA median) (1)
9 Less than 50 86,075 8.0
10 50-79 259,623 24.1
11 80-99 175,855 16.3
12 100-119 150,218 13.9
13 120 or more 406,785 37.7
14 Total 1,078,556 100.0
CENSUS TRACT
Racial composition (minorities as percentage
of population)
15 Less than 10 557,578 47.9
16 10-19 246,528 21.2
17 20-49 225,527 19.4
18 50-79 76,255 6.5
19 80-100 58,891 5.1
20 Total 1,164,779 100.0
Income (2)
21 Low 26,757 2.3
22 Moderate 148,829 12.8
23 Middle 620,445 53.2
24 Upper 369,261 31.7
25 Total 1,165,292 100.0
Location
26 Central city 484,741 41.1
27 Non-central city 693,661 58.9
28 Total 1,178,402 100.0
Characteristic Home refinance
Number Percent
APPLICANT
Race or ethnic group
1 American Indian or Alaskan Native 2,322 .3
2 Asian or Pacific Islander 15,849 2.0
3 Black 47,208 6.0
4 Hispanic 51,488 6.5
5 White 602,909 76.5
6 Other 53,689 6.8
7 Joint (white and minority) 14,776 1.9
8 Total 788,241 100.0
Income (percentage of MSA median) (1)
9 Less than 50 50,992 6.0
10 50-79 187,977 22.1
11 80-99 144,849 17.1
12 100-119 129,507 15.3
13 120 or more 335,846 39.5
14 Total 849,171 100.0
CENSUS TRACT
Racial composition (minorities as percentage
of population)
15 Less than 10 479,223 54.7
16 10-19 178,273 20.3
17 20-49 146,709 16.7
18 50-79 42,573 4.9
19 80-100 29,382 3.4
20 Total 876,160 100.0
Income (2)
21 Low 10,256 1.2
22 Moderate 91,376 10.4
23 Middle 499,141 56.9
24 Upper 276,320 31.5
25 Total 877,093 100.0
Location
26 Central city 331,922 37.3
27 Non-central city 558,131 62.7
28 Total 890,053 100.0
NOTE. Not all characteristics were reported for all loans.
(1.) MSA median is median family income of the metropolitan
statistical area (MSA) in which the property related to the loan
is located.
(2.) Lower: median family income for census tract less than 50 percent
of median family income for MSA. Moderate: 50 percent to less than 80
percent. Middle: 80 percent to less than 120 percent. Upper: 120
percent or more.
(3.) For census tracts located in MSAs.
SOURCE. Federal Financial Institutions Examination Council.
4.45 APPLICATIONS FOR PRIVATE MORTGAGE INSURANCE, 2002
By Purpose of Loan, Disposition of Application, Characteristic of
Applicant, and Census Tract
Percent
Home purchase
Appr- Denied With- File
Characteristic oved drawn closed
1 Total 92.6 2.2 4.4 .7
APPLICANT
Race or ethnic group
2 American Indian or Alaskan
Native 89.9 3.3 5.8 1.1
3 Asian or Pacific Islander 91.9 2.4 4.9 .8
4 Black 89.6 3.9 5.4 1.0
5 Hispanic 90.7 3.4 4.9 1.0
6 White 93.1 1.9 4.2 .7
7 Other 96.3 .6 2.9 .2
8 Joint (white and minority) 93.4 2.0 4.0 .6
Income (percentage of MSA
median) (1)
9 Less than 50 91.0 3.3 5.0 .7
10 50-79 93.4 2.1 4.0 .6
11 80-99 94.1 1.7 3.7 .5
12 100-119 94.3 1.6 3.6 .5
13 120 or more 94.2 1.7 3.6 .5
CENSUS TRACT
Racial composition (minorities as
percentage of population)
14 Less than 10 94.4 1.6 3.6 .4
15 10-19 93.8 1.8 3.9 .5
16 20-49 92.9 2.2 4.3 .6
17 50-79 91.8 2.7 4.7 .8
18 80-100 90.4 3.4 5.3 .9
Income (2)
19 Low 90.0 3.6 5.5 .9
20 Moderate 92.2 2.8 4.4 .6
21 Middle 93.8 1.9 3.9 .5
22 Upper 94.2 1.5 3.8 .5
Location (3)
23 Central city 93.3 2.1 4.0 .6
24 Non-central city 93.9 1.8 3.9 .4
Home
pur-
chase Home refinance
Appr- Denied With-
Characteristic Total oved drawn
1 Total 100.0 91.4 2.4 5.6
APPLICANT
Race or ethnic group
2 American Indian or Alaskan
Native 100.0 91.3 3.0 5.1
3 Asian or Pacific Islander 100.0 90.9 2.7 5.8
4 Black 100.0 88.6 4.0 6.5
5 Hispanic 100.0 89.7 3.7 5.7
6 White 100.0 92.1 2.1 5.2
7 Other 100.0 95.2 .4 4.3
8 Joint (white and minority) 100.0 93.1 1.8 4.7
Income (percentage of MSA
median) (1)
9 Less than 50 100.0 87.2 4.1 7.8
10 50-79 100.0 90.3 2.7 6.3
11 80-99 100.0 91.8 2.3 5.4
12 100-119 100.0 92.3 2.0 5.1
13 120 or more 100.0 92.9 1.9 4.7
CENSUS TRACT
Racial composition (minorities as
percentage of population)
14 Less than 10 100.0 92.1 2.0 5.4
15 10-19 100.0 91.5 2.3 5.6
16 20-49 100.0 91.1 2.6 5.7
17 50-79 100.0 89.8 3.0 6.4
18 80-100 100.0 88.1 4.1 6.9
Income (2)
19 Low 100.0 86.5 4.4 7.9
20 Moderate 100.0 89.9 3.2 6.2
21 Middle 100.0 91.6 2.3 5.5
22 Upper 100.0 92.3 1.9 5.3
Location (3)
23 Central city 100.0 91.5 2.3 5.5
24 Non-central city 100.0 91.6 2.3 5.6
Home refinance
File Total
Characteristic closed
1 Total .6 100.0
APPLICANT
Race or ethnic group
2 American Indian or Alaskan
Native .6 100.0
3 Asian or Pacific Islander .6 100.0
4 Black .8 100.0
5 Hispanic .8 100.0
6 White .6 100.0
7 Other .1 100.0
8 Joint (white and minority) .5 100.0
Income (percentage of MSA
median) (1)
9 Less than 50 .9 100.0
10 50-79 .6 100.0
11 80-99 .6 100.0
12 100-119 .6 100.0
13 120 or more .5 100.0
CENSUS TRACT
Racial composition (minorities as
percentage of population)
14 Less than 10 .5 100.0
15 10-19 .6 100.0
16 20-49 .6 100.0
17 50-79 .7 100.0
18 80-100 .9 100.0
Income (2)
19 Low 1.2 100.0
20 Moderate .7 100.0
21 Middle .6 100.0
22 Upper .5 100.0
Location (3)
23 Central city .6 100.0
24 Non-central city .6 100.0
NOTE. Not all characteristics were reported for all loans
(1.) Median family income of the metropolitan statistical area (MSA)
in which the property related to the loan is located
(2.) Lower: median Family income for census tract less than 50 percent
of median family income far MSA Maderate: 50 percent to less than 80
percent Middle: 80 percent to less than 120 percent Upper: 120 percent
or more.
(3.) For census tracts located in MSAs.
SOURCE. Financial Institutions Examination Council.
4.46 SMALL LOANS TO BUSINESSES AND FARMS, 1996-2002
Company 1996 1997
Total business loans
1 Number 2,424,966 2,560,795
2 Amount (thousands of dollars) 149,718,193 159,401,302
Percent to small firms (1)
3 Number 55.9 50.0
4 Amount 43.1 42.1
Total farm loans
5 Number 217,356 212,822
6 Amount (thousands of dollars) 10,480,989 11,192,400
Percent to small farms (1)
7 Number 88.4 89.5
8 Amount 81.4 81.3
Activity of CRA reporters (percent)
(2)
All small loans to businesses
9 Number 65.9 71.0
10 Amount 67.5 69.4
All small loans to farms (2)
11 Number 22.2 24.1
12 Amount 27.9 28.4
Distribution of business loans
by asset size of lender
Number (percent)
13 Less than 100 3.7 1.2
14 100 to 249 19.7 6.5
15 250 to 999 16.1 15.7
16 1,000 or more 60.6 76.6
17 Total 100 100
Amount (percent)
18 Less than 100 1.6 1.4
19 100 to 249 5.7 3.5
20 250 to 999 22.4 20.9
21 1,000 or more 70.3 74.2
22 Total 100 100
Distribution of farm loans
by asset size of lender
Number (percent)
23 Less than 100 9.8 6.4
24 100 to 249 14.2 10.4
25 250 to 999 34.5 37.4
26 1,000 or more 41.5 45.8
27 Total 100 100
Amount (percent)
28 Less than 100 6.4 5.1
29 100 to 249 11.5 8.2
30 250 to 999 31.7 34.2
31 1,000 or more 50.4 52.5
32 Total 100 100
Distribution of business loans
by income of census tract (3)
Number
33 Low 4.7 4.6
34 Moderate 15.9 16.0
35 Middle 49.4 49.1
36 Upper 29.5 29.8
37 Income not reported .5 .5
38 Total 100 100
Amount
39 Low 5.6 5.4
40 Moderate 16.0 16.0
41 Middle 46.8 46.5
42 Upper 30.9 31.4
43 Income not reported .7 .7
44 Total 100 100
MEMO
Number of reporters
45 Commercial banks 1,583 1,421
46 Savings institutions 496 475
47 Total 2,079 1,896
Company 1998 1999
Total business loans
1 Number 2,736,389 3,287,974
2 Amount (thousands of dollars) 161,211,231 174,538,571
Percent to small firms (1)
3 Number 54.5 60.2
4 Amount 47.0 48.5
Total farm loans
5 Number 206,267 220,587
6 Amount (thousands of dollars) 11,373,691 12,302,881
Percent to small farms (1)
7 Number 90.4 90.6
8 Amount 83.0 83.7
Activity of CRA reporters (percent)
(2)
All small loans to businesses
9 Number 67.8 67.8
10 Amount 69.4 72.4
All small loans to farms (2)
11 Number 24.9 28.0
12 Amount 30.1 34.1
Distribution of business loans
by asset size of lender
Number (percent)
13 Less than 100 1.9 1.0
14 100 to 249 5.5 1.4
15 250 to 999 20.3 15.9
16 1,000 or more 72.3 81.8
17 Total 100 100
Amount (percent)
18 Less than 100 0.8 1.0
19 100 to 249 3.2 2.2
20 250 to 999 22.7 21.6
21 1,000 or more 73.3 75.2
22 Total 100 100
Distribution of farm loans
by asset size of lender
Number (percent)
23 Less than 100 4.9 4.9
24 100 to 249 8.2 6.6
25 250 to 999 38.7 37.7
26 1,000 or more 48.2 50.8
27 Total 100 100
Amount (percent)
28 Less than 100 3.5 4.O
29 100 to 249 6.6 5.6
30 250 to 999 36.0 36.3
31 1,000 or more 53.9 54.1
32 Total 100 100
Distribution of business loans
by income of census tract (3)
Number
33 Low 4.3 3.6
34 Moderate 15.5 14.6
35 Middle 49.5 50.1
36 Upper 30.3 31.2
37 Income not reported .5 .4
38 Total 100 100
Amount
39 Low 5.2 5.0
40 Moderate 15.7 15.5
41 Middle 46.8 47.1
42 Upper 31.6 31.7
43 Income not reported .7 .7
44 Total 100 100
MEMO
Number of reporters
45 Commercial banks 1,576 1,450
46 Savings institutions 290 461
47 Total 1,866 1,911
Company 2000 2001 (4)
Total business loans
1 Number 5,110,001 6,094,606
2 Amount (thousands of dollars) 179,056,204 224,914,485
Percent to small firms (1)
3 Number 41.7 43.7
4 Amount 45.9 45.6
Total farm loans
5 Number 204,318 235,417
6 Amount (thousands of dollars) 11,634,880 14,330,467
Percent to small farms (1)
7 Number 90.2 90.0
8 Amount 83.8 83.6
Activity of CRA reporters (percent)
(2)
All small loans to businesses
9 Number 83.7 84.0
10 Amount 75.6 75.0
All small loans to farms (2)
11 Number 30.6 32.3
12 Amount 37.5 38.2
Distribution of business loans
by asset size of lender
Number (percent)
13 Less than 100 .5 .4
14 100 to 249 .8 13.8
15 250 to 999 18.8 13.2
16 1,000 or more 79.8 72.6
17 Total 100 100
Amount (percent)
18 Less than 100 .6 1.0
19 100 to 249 2.0 2.7
20 250 to 999 23.0 21.8
21 1,000 or more 74.4 74.5
22 Total 100 100
Distribution of farm loans
by asset size of lender
Number (percent)
23 Less than 100 2.2 1.2
24 100 to 249 4.8 3.4
25 250 to 999 46.7 42.7
26 1,000 or more 46.3 52.6
27 Total 100 100
Amount (percent)
28 Less than 100 1.7 .9
29 100 to 249 4.0 2.8
30 250 to 999 42.7 38.8
31 1,000 or more 51.5 57.5
32 Total 100 100
Distribution of business loans
by income of census tract (3)
Number
33 Low 3.6 4.0
34 Moderate 14.6 15.2
35 Middle 50.2 50.1
36 Upper 31.2 30.3
37 Income not reported .4 .4
38 Total 100 100
Amount
39 Low 4.9 4.9
40 Moderate 15.4 15.2
41 Middle 47.6 47.6
42 Upper 31.5 31.7
43 Income not reported .5 .6
44 Total 100 100
MEMO
Number of reporters
45 Commercial banks 1,471 1,443
46 Savings institutions 470 469
47 Total 1,941 1,912
Company 2002
Total business loans
1 Number 7,556,999
2 Amount (thousands of dollars) 253,225,288
Percent to small firms (1)
3 Number 31.0
4 Amount 44.2
Total farm loans
5 Number 256,117
6 Amount (thousands of dollars) 16,222,070
Percent to small farms (1)
7 Number 88.5
8 Amount 83.0
Activity of CRA reporters (percent)
(2)
All small loans to businesses
9 Number 88.0
10 Amount 76.9
All small loans to farms (2)
11 Number 32.2
12 Amount 38.1
Distribution of business loans
by asset size of lender
Number (percent)
13 Less than 100 .1
14 100 to 249 .5
15 250 to 999 25.1
16 1,000 or more 74.3
17 Total 100
Amount (percent)
18 Less than 100 .4
19 100 to 249 1.6
20 250 to 999 23.6
21 1,000 or more 74.4
22 Total 100
Distribution of farm loans
by asset size of lender
Number (percent)
23 Less than 100 1.0
24 100 to 249 2.5
25 250 to 999 49.1
26 1,000 or more 47.4
27 Total 100
Amount (percent)
28 Less than 100 .7
29 100 to 249 2.3
30 250 to 999 43.2
31 1,000 or more 53.8
32 Total 100
Distribution of business loans
by income of census tract (3)
Number
33 Low 3.7
34 Moderate 15.2
35 Middle 50.5
36 Upper 30.3
37 Income not reported .4
38 Total 100
Amount
39 Low 4.7
40 Moderate 15.2
41 Middle 47.9
42 Upper 31.7
43 Income not reported .6
44 Total 100
MEMO
Number of reporters
45 Commercial banks 1,495
46 Savings institutions 491
47 Total 1,986
(1.) Businesses and farms with revenues of $1 million or less.
(2.) Percentages reflect the ratio of activity by CRA reporters to
activity by all lenders. Calculations based on information reported in
the June 1996, 1997, 1998, 1999, 2000, 2001, and 2002 Call Reports for
commercial banks and the Thrift Financial Reports for savings
associations.
(3.) Low income: census tract medium family income less than 50 percent
of metropolitan area median family income or nonmetropolitan portion
of state median family income; moderate income: 50-79 percent; middle
income: 80-120 percent; upper income: 120 percent or more. Excludes
loans where census tract or block number area was not reported.
(4.) Revised to reflect correction of reported data.
SOURCE: FFIEC
4.47 ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESS AND
FARMS, 2002
By Size of Loan
Size of loan (dollars)
Type of borrower and loan 100,000 or less 100,001 to 250,000
Total Percent Total Percent
Number of loans
Business
1 Originations 6,997,946 93.4 260,671 3.5
2 Purchases 56,600 92.0 2,080 3.4
3 Total 7,054,546 93.4 262,751 3.5
Farm
4 Origination 209,228 82.2 32,321 12.7
5 Purchases 1,094 72.3 282 18.6
6 Total 210,322 82.1 32,603 12.7
All
7 Origination 7,207,174 93.0 292,992 3.8
8 Purchases 57,694 91.6 2,362 3.7
9 Total 7,264,868 93.0 295,354 3.8
Amount of loans (thousands of dollars)
Business
10 Originations 81,000,253 32.4 45,430,559 18.2
11 Purchases 1,246,279 39.8 354,218 11.3
12 Total 82,246,532 32.5 45,784,777 18.1
Farm
13 Origination 5,953,980 37.0 5,392,012 33.5
14 Purchases 36,592 27.1 47,380 35.1
15 Total 5,990,572 36.9 5,439,392 33.5
All
16 Originations 86,954,233 32.7 50,822,571 19.1
17 Purchases 1,282,871 39.3 401,598 12.3
18 Total 88,237,104 32.7 51,224,169 19.0
Size of loan (dollars)
All loans
Type of borrower and loan More than 250,000
Total Percent Total Per-
cent
Number of loans
Business
1 Originations 236,890 3.2 7,495,507 100
2 Purchases 2,812 4.6 61,492 100
3 Total 239,702 3.2 7,556,999 100
Farm
4 Origination 13,054 5.1 254,603 100
5 Purchases 138 9.1 1,514 100
6 Total 13,192 5.2 256,117 100
All
7 Origination 249,944 3.2 7,750 100
8 Purchases 2,950 4.7 63,006 100
9 Total 252,894 3.2 7,813,116 100
Amount of loans (thousands of dollars)
Business
10 Originations 123,661,681 49.4 250,092,493 100
11 Purchases 1,532,298 48.9 3,132,795 100
12 Total 125,193,979 49.4 253,225,288 100
Farm
13 Origination 4,741,249 29.5 16,087,241 100
14 Purchases 50,857 37.7 134,829 100
15 Total 4,792,106 29.5 16,222,070 100
All
16 Originations 128,402,930 48.2 266,179,734 100
17 Purchases 1,583,155 48.4 3,267,624 100
18 Total 129,986,085 48.2 269,447,358 100
MEMO
Loans to firms
with revenues
of $1 million
Type of borrower and loan or less
Total Percent
Number of loans
Business
1 Originations 2,316,700 30.9
2 Purchases 25,427 41.4
3 Total 2,342,127 31.0
Farm
4 Origination 225,443 88.5
5 Purchases 1,123 74.2
6 Total 226,566 88.5
All
7 Origination 2,542,143 32.8
8 Purchases 26,550 42.1
9 Total 2,568,693 32.9
Amount of loans
thousands of dollars
Business
10 Originations 111,074,212 44.4
11 Purchases 803,644 25.7
12 Total 111,877,856 44.2
Farm
13 Origination 13,371,430 83.1
14 Purchases 87,155 64.6
15 Total 13,458,585 83.0
All
16 Originations 124,445,642 46.8
17 Purchases 890,799 27.3
18 Total 125,336,441 46.5
SOURCE: FFIEC
4.48 ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESSES AND
FARMS, 2002
By Type of Borrower and Loan, Distributed by Size of Lending
Institution
Institutions, by asset size
(millions of dollars)
Type of borrower and loan Less than 100 100 to 249
Total Percent Total Percent
Number of loans
Business
1 Originations 10,374 0.1 35,707 0.5
2 Purchases 228 0.4 1,249 2.0
3 Total 10,602 0.1 36,956 0.5
Farm
4 Originations 2,629 1.0 6,386 2.5
5 Purchases 10 0.7 0 0.0
6 Total 2,639 1.0 6,386 2.5
All
7 Originations 13,003 0.2 42,093 0.5
8 Purchases 238 0.4 1,249 2.0
9 Total 13,241 0.2 43,342 0.6
Amount of loans (thousands of (dollars)
Business
10 Originations 975,591 0.4 3,802,407 1.5
11 Purchases 74,261 2.4 240,555 7.7
12 Total 1,049,852 11.4 4,042,962 1.6
Farm
13 Originations 113,254 0.7 365,441 2.3
14 Purchases 1,705 1.3 0 0.0
15 Total 114,959 0.7 365,441 2.3
All
16 Originations 1,088,845 0.4 4,167,848 1.6
17 Purchases 75,966 2.3 240,555 7.4
18 Total 1,164,811 0.4 4,408,403 1.6
Memo
19 Number of institutions
reporting 95 -- 165 --
20 Number of institutions
extending loans 85 -- 155 --
Institutions, by asset size
(millions of dollars)
Type of borrower and loan 250 to 999 1,000 or more
Total Percent Total Per-
cent
Number of loans
Business
1 Originations 1,879,557 25.1 5,569,869 74.3
2 Purchases 18,664 30.4 41,351 67.2
3 Total 1,898,221 25.1 5,611,220 74.3
Farm
4 Originations 124,722 49.0 120,866 47.5
5 Purchases 941 62.2 563 37.2
6 Total 125,663 49.1 121,429 47.4
All
7 Originations 2,004,279 25.9 5,690,735 73.4
8 Purchases 19,605 31.1 41,914 66.5
9 Total 2,023,884 25.9 5,732,649 73.4
Amount of loans (thousands of (dollars)
Business
10 Originations 59,144,142 23.6 186,170,353 74.4
11 Purchases 663,125 21.2 2,154,854 68.8
12 Total 59,807,267 23.6 188,325,207 74.4
Farm
13 Originations 6,909,847 43.0 8,698,699 54.1
14 Purchases 105,411 78.2 27,713 20.6
15 Total 7,015,258 43.2 8,726,412 53.8
All
16 Originations 66,053,989 24.8 194,869,052 73.2
17 Purchases 768,536 23.5 2,182,567 66.8
18 Total 66,822,525 24.8 197,051,619 73.1
Memo
19 Number of institutions
reporting 1,218 -- 508 --
20 Number of institutions
extending loans 1,142 -- 455 --
All institutions
Type of borrower and loan
Total Percent
Number of loans
Business
1 Originations 7,495,507 100
2 Purchases 61,492 100
3 Total 7,556,999 100
Farm
4 Originations 254,603 100
5 Purchases 1,514 100
6 Total 256,117 100
All
7 Originations 7,750,110 100
8 Purchases 63,006 100
9 Total 7,813,116 100
Amount of loans
(thousands of (dollars)
Business
10 Originations 250,092,493 100
11 Purchases 3,132,795 100
12 Total 253,225,288 100
Farm
13 Originations 16,087,241 100
14 Purchases 134,829 100
15 Total 16,222,070 100
All
16 Originations 266,179,734 100
17 Purchases 3,267,624 100
18 Total 269,447,358 100
Memo
19 Number of institutions
reporting 1,986 --
20 Number of institutions
extending loans 1,837 --
SOURCE: FFIEC
4.49 COMMUNITY DEVELOPMENT LENDING, 2002
Number of loans Amount of loans
(thousands of dollars)
Asset size of lender
(millions of dollars) Total Percent Total Percent
Institution assets
1 Less than 100 111 0.4 138,430 0.5
2 100 to 249 571 1.9 233,928 0.8
3 250 to 999 8,718 28.5 3,747,971 13.5
4 1,000 or more 21,154 69.2 23,689,850 85.2
5 All 30,554 100.0 27,810,179 100.0
MEMO
6 Lending by all affiliates 396 1.3 913,524 3.3
MEMO: CRA reporters
Community development
loans
Asset size of lender
(millions of dollars) Number Percent Number Percent
extending extending
Institution assets
1 Less than 100 95 4.8 27 2.2
2 100 to 249 165 8.3 70 5.6
3 250 to 999 1,218 61.3 723 58.4
4 1,000 or more 508 25.6 419 33.8
5 All 1,986 100.0 1,239 100.0
MEMO
6 Lending by all affiliates -- -- 30 2.4
SOURCE: FFIEC
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