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Volume 2 • Number 8 • August 2005
Statistical Supplement
to the Federal Reserve
^BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Lynn S. Fox, Chair • Scott G. Alvarez • Sandra Braunstein • Marianne M. Emerson
• Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus • Vincent R. Reinhart
• Louise L. Roseman • Richard Spillenkothen • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin. Starting with
the winter 2004 issue, the Bulletin is now published
on a quarterly basis.
Published monthly, the new Statistical Supplement
is designed as a compact source of economic and
financial data. The tables that appeared in the Federal
Reserve Bulletin, including the annual and quarterly
special tables, now appear in the Statistical Supplement. All statistical series are published with the
same frequency that they had in the Bulletin, and the
numbering system for the tables remains the same.
Separate subscriptions for the quarterly Federal
Reserve Bulletin and the monthly Statistical Supplement are available. Subscription information for
the Statistical Supplement is on the inside front cover.
For subscription information about the Bulletin, contact Publications Fulfillment at (202) 452-3245, or
send an e-mail to publications-bog@frb.gov.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of August 2005.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Reserves of depository institutions and Reserve Bank
credit
6 Reserves and borrowings—Depository
institutions
Policy
Instruments
7 Federal Reserve Bank interest rates
8 Reserve requirements of depository institutions
9 Federal Reserve open market transactions
Federal Reserve
Federal Finance
25 Federal debt subject to statutory limitation
25 Gross public debt of U.S. TreasuryTypes and ownership
26 U.S. government securities
dealers—Transactions
27 U.S. government securities dealers—
Positions and financing
28 Federal and federally sponsored credit
agencies—Debt outstanding
Securities Markets and Corporate Finance
29 New security issues—Tax-exempt state and local
governments and U.S. corporations
30 Open-end investment companies—Net sales
and assets
30 Domestic finance companies—Assets and liabilities
31 Domestic finance companies—Owned and managed
receivables
Banks
10 Condition and Federal Reserve note statements
11 Maturity distribution of loans and securities
Monetary and Credit
Aggregates
Real Estate
32 Mortgage markets—New homes
33 Mortgage debt outstanding
12 Aggregate reserves of depository institutions
and monetary base
13 Money stock measures
Commercial Banking Institutions—
Assets and Liabilities
15
16
17
19
20
21
All commercial banks in the United States
Domestically chartered commercial banks
Large domestically chartered commercial banks
Small domestically chartered commercial banks
Foreign-related institutions
Memo items
Consumer Credit
34 Total outstanding
34 Terms
Flow of Funds
35
37
38
39
Funds raised in U.S. credit markets
Summary of financial transactions
Summary of credit market debt outstanding
Summary of financial assets and liabilities
Financial Markets
22 Commercial paper outstanding
22 Prime rate charged by banks on short-term
business loans
23 Interest rates—Money and capital markets
24 Stock market—Selected statistics
DOMESTIC NONFINANCIAL STATISTICS
Selected
Measures
40 Output, capacity, and capacity utilization
42 Industrial production—Indexes and gross value
2
Federal Reserve Bulletin Statistical Supplement • August 2005
INTERNATIONAL STATISTICS
Summary Statistics
44 U.S. international transactions
44 U.S. reserve assets
45 Foreign official assets held at Federal Reserve
Banks
45 Selected U.S. liabilities to foreign official
institutions
Securities Holdings and Transactions
54 Foreign transactions in securities
55 Marketable U.S. Treasury bonds and
notes—Foreign transactions
Interest and Exchange Rates
56 Foreign exchange rates
57 GUIDE TO SPECIAL TABLES
Reported by Banks in the United States
45
46
48
49
Liabilities to, and claims on, foreigners
Liabilities to foreigners
Banks' own claims on foreigners
Banks' own and domestic customers' claims on
foreigners
SPECIAL TABLES
58 Terms of lending at commercial banks,
May 2-6, 2005
64 Assets and liabilities of U.S. branches and
agencies of foreign banks, March 31, 2005
Reported by Nonbanking Business
Enterprises in the United States
68 INDEX TO STATISTICAL TABLES
50 Liabilities to foreigners
52 Claims on foreigners
Symbols and Abbreviations
c
e
n.a.
n.e.c.
p
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
Corrected
Estimated
Not available
Not elsewhere classified
Preliminary
Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
Calculated to be zero
Cell not applicable
Asset-backed security
Automatic transfer service
Bank insurance fund
Certificate of deposit
Collateralized mortgage obligation
Community Reinvestment Act of 1977
Federal Agricultural Mortgage Corporation
Federal Financing Bank
Federal Financial Institutions Examination Council
Federal Housing Administration
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Farmers Home Administration
Federal National Mortgage Association
Farm Service Agency
Federal Savings and Loan Insurance Corporation
Group of Seven
Group of Ten
GDP
GNMA
GSE
HUD
IMF
IOs
IPCs
IRA
MMDA
MSA
NAICS
NOW
OCDs
OPEC
OTS
PMI
POs
REIT
REMICs
RHS
RP
RTC
SCO
SDR
SIC
STRIPS
TIIS
TIPS
VA
Gross domestic product
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International Monetary Fund
Interest-only, stripped, mortgage-backed securities
Individuals, partnerships, and corporations
Individual retirement account
Money market deposit account
Metropolitan statistical area
North American Industry Classification System
Negotiable order of withdrawal
Other checkable deposits
Organization of Petroleum Exporting Countries
Office of Thrift Supervision
Private mortgage insurance
Principal-only, stripped, mortgage-backed securities
Real estate investment trust
Real estate mortgage investment conduits
Rural Housing Service
Repurchase agreement
Resolution Trust Corporation
Securitized credit obligation
Special drawing right
Standard Industrial Classification
Separate trading of registered interest and principal
of securities
See TIPS
Treasury inflation-protected securities (formerly
TIIS, or Treasury inflation-indexed securities)
Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
4
Federal Reserve Bulletin Statistical Supplement • August 2005
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q2'
Q3'
Q4'
Ql'
Apr.'
May
-5.8
-3.0
-7.9
-18.0
-14.7
-18.2
1.5
2
1
2
3
4
Resen-es of depositor,- institutions
Total '.
Required
Nonborrowed
Monetary base1
Concepts of moneys
5 MI
:
6 M2
7 M3
21.9
17.7
21.3
5.6
1.9
3.4
.6
7.3
1.9
4.5
4.7
2.1
3.5
2.9
3.7
17.4
22.6
17.5
4.0
5.9
3.3
3.4
4.2
5.7
5.8
4.0
.5
4.0
5.5
-8.0
3.4
6.7
3.4
5.9
5.8
.4
4.9
8.8
6.6
13.5
16.2
-3.6
21.8
7.1
2.5
15.6
11.6
7.2
6.3
6.7
14.5
32.2
6.5
16.1
68.1
16.5
16.6
13.5
-4.4
27.1
8.1
-.8
36.0
1.6
3.7
35.1
-1.2
15.0
45.4
3.6
20.8
51.8
-8.7
20.4
47.5
-11.7
-6.3
-9.5
-11.9
-5.0
10.0
-1.9
-12.9
-15.9
34.8
16.9
25.8
-64.4
43.3
7.7
9.1
Nontransaction components
In M25
In M3 only"
Time and savings deposits
Commercial banks
Savings, including MMDAs
Small time7
Large time*'9
Thrift institutions
Savings, including MMDAs
Small time7
Large time*
Money market mutual funds
Retail10
Institution-only
Repurchase agreements and Eurodollars
Repurchase agreements
Eurodollars
-9.3
4.2
5.8
19.6
1. Unless otherwise noted, rates of change are calculated from average amounts outstanding during the preceding month or quarter.
2. Figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements (See also table 1.20.)
3. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all weekly reporters whose
vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted difference
between current vault cash and the amount applied to satisfy current reserve requirements.
4. Composition of the money stock measures is as follows:
Ml consists of (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 commercial banks (excluding those amounts held by depositoiy institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depositoiy institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement accounts (IRA) and Keogh balances at depositoiy institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted M 1.
-33.3
-37.8
5.0
15.2
22.0
3.5
6.1
3.7
3.8
1.4
-15.3
-.6
6.7
11.0
5.1
-2.6
15.1
3.0
-8.5
13.3
40.1
19.0
43.4
24.3
-15.7
-2.6
25.2
17.2
26.6
62.9
.7
7.2
-8.8
-19.4
17.2
-12.3
-24.3
24.0
20.2
74.8
27.2
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depositoiy institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depositoiy institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the 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) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted separately.
7. Small time deposits are those issued in amounts of less than $100,000. All IRA and
Keogh account balances at commercial banks and thrift institutions are subtracted from small
time deposits.
8. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
9. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depositoiy institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
10. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Money Stock and Bank Credit 5
1.11
RESERVE BALANCES OF DEPOSITORY INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
Apr.
May
Apr. 13
Apr. 20
Apr. 27
May 4
May 11
May 18
May 25
782,452
717,509
717,509
263,005
433,089
19,108
2,306
0
25,073
53
17
0
36
-528
40,346
11,041
2,200
36,545
784,486
717,702
717,702
263,005
433,195
19,108
2,393
0
25,783
134
56
0
79
-348
41,215
11,041
2,200
36,545
786,931
721,766
721,766
264,173
435,944
19,108
2,541
0
25,565
141
7
0
135
-905
40,364
11,041
2,200
36,545
781,396
717,369
717,369
263,005
432,885
19,108
2,371
0
22,893
280
211
0
68
-137
40,992
11,041
2,200
36,545
785,623
717,398
717,398
263,005
432,885
19,108
2,400
0
27,464
85
5
0
80
-414
41,150
11,041
2,200
36,545
786,709
717,941
717,941
263,005
433,400
19,108
2,428
0
27,321
102
7
0
96
-319
41,662
11,041
2,200
36,545
786,425
719,356
719,356
263,005
434,785
19,108
2,457
0
26,143
787,558
721,611
721,611
264,284
435,683
19,108
2,535
0
26,571
142
5
0
107
-1,141
41,956
11,041
2,200
36,545
783,243
720,597
720,597
264,078
434,914
19,108
2,497
0
21,036
134
8
0
126
-657
42,134
11,041
2,200
36,545
0
139
-1,260
40,493
11,041
2,200
36,545
786,595
722,188
722,188
264,353
436,154
19,108
2,573
0
26,357
150
8
0
142
-786
38,685
11,041
2,200
36,545
752,242
25,374
25,374
0
261
753,570
24,201
24,201
0
270
755,448
26,096
26,096
0
260
754,147
23,423
23,423
0
276
753,363
23,769
23,769
0
269
752,620
25,494
25,494
0
260
753,669
26,355
26,355
0
257
754,516
25,149
25,149
0
254
754,287
28,054
28,054
0
255
754,266
25,780
25,780
0
262
14,251
4,718
87
9,125
9,124
0
321
27,854
12,257
14,576
5,212
97
8,957
8,957
0
310
28,481
13,174
14,175
5,087
94
8,682
8,682
0
313
28,986
11,752
15,058
5,175
80
9,513
9,513
14,038
5,201
102
8,426
8,426
0
311
28,643
15,328
14,405
5,586
95
8,424
8,424
0
300
28,868
14,847
14,323
4,863
101
9,025
9,025
0
335
28,799
14,477
4,993
123
9,024
9,024
0
336
28,913
9,720
13,960
5,209
84
8,340
8,340
0
327
28,820
11,968
13,644
4,936
82
8,340
8,340
0
286
28,978
13,453
SUPPLYING RESERVE FUNDS
Reserve Bank credit outstanding
Securities held outright
U.S. Treasury2
Bills'
Notes and bonds, nominal1
Notes and bonds, inflation-indexed1
Inflation compensation4
Federal agency1
Repurchase agreements5
Loans to depositoiy institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
ABSORBING RESERVE FUNDS
Currency in circulation
Reverse repurchase agreements"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reseive Banks, other than
reserve balances
U.S. Treasury, general account
Foreign official
Service-related
Required clearing balances
Adjustments to compensate for float
Other
Other liabilities and capital
Reseive balances with Federal Reseive Banks7 . .
28,328
9,951
Wednesday figures
End-of-month figures
Apr.
May
Apr. 13
Apr. 20
Apr. 27
May 4
May 11
May 18
787,494
717,326
717,326
263,005
432,885
19,108
2,328
0
31,000
52
0
0
52
-1,413
40,529
11,041
2,200
36,545
787,835
719,350
719,350
263,005
434,785
19,108
2,451
0
27,500
105
6
0
98
-1,184
42,065
11,041
2,200
36,545
797,168
724,471
724,471
264,765
437,978
19,108
2,620
0
34,750
160
13
0
148
-955
38,741
11,042
2,200
36,545
786,380
717,380
717,380
263,005
432,885
19,108
2,381
0
28,250
76
0
0
76
-616
41,290
11,041
2,200
36,545
782,709
717,409
717,409
263,005
432,885
19,108
2,410
0
23,750
88
0
0
88
53
41,409
11,041
2,200
36,545
790,284
718,638
718,638
263,005
434,085
19,108
2,439
0
30,750
105
4
0
101
-953
41,744
11,041
2,200
36,545
782,836
719,372
719,372
263,005
434,785
19,108
2,473
0
21,500
124
121
-136
41,977
11,041
2,200
36,545
789,981
721,565
721,565
264,263
435,683
19,108
2,511
0
26,000
138
1
0
138
82
42,195
11,041
2,200
36,545
783,233
721,629
721,629
264,288
435,683
19,108
2,549
0
23,750
141
4
0
138
-844
38,557
11,041
2,200
36,545
791,893
722,992
722,992
264,515
436,781
19,108
2,587
0
31,000
149
3
0
146
-1,123
38,876
11,041
2,200
36,545
754,637
24,106
24,106
0
284
752,786
26,544
26,544
0
258
761,384
25,386
25,386
0
275
755,038
22,758
22,758
0
270
754,107
25,100
25,100
0
261
754,397
25,068
25,068
0
258
755,345
26,060
26,060
0
254
755,944
25,308
25,308
0
254
754,908
26,179
26,179
757,385
25,186
25,186
0
275
15,107
5,219
139
9,514
9,514
0
235
27,862
15,284
13,054
3,585
126
9,025
9,025
0
318
28,846
16,134
14,768
5,538
105
8,851
8,851
0
274
29,255
15,886
14,829
4,926
80
9,514
9,514
0
308
28,346
14,926
12,927
4,102
84
8,426
8,426
0
315
28,527
11,573
15,162
6,356
88
8,424
8,424
0
294
28,520
16,665
14,079
4,618
79
9,025
9,025
0
357
28,643
8,242
14,415
4,998
79
9,024
9,024
0
315
28,627
15,219
13,806
5,080
14,215
5,518
79
8,340
8,340
0
278
29,039
15,579
SUPPLYING RESERVE FUNDS
Reseive Bank credit outstanding
Securities held outright
U.S. Treasury2
Bills'
Notes and bonds, nominal'
Notes and bonds, inflation-indexed'
Inflation compensation4
Federal agency'
Repurchase agreements5
Loans to depositoiy institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reseive assets
Gold stock
Special drawing rights certificate account .
Treasury currency outstanding
ABSORBING RESERVE FUNDS
Currency in circulation
Reverse repurchase agreements"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reseive Banks, other
reseive balances
U.S. Treasury, general account
Foreign official
Service-related
Required clearing balances
Adjustments to compensate for float . .
Other
Other liabilities and capital
Reseive balances with Federal Reseive Ban!
NOTE. Some of the data in this table appears in the Board's H.4.1 (503) weekly statistical
release, available at www.federalreserve.gov/releases.
1. Amounts of vault cash held as reserves are shown in table 1.12. line 2.
2. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury
securities.
3. Face value of the securities.
4. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
8,340
8,340
0
273
28,781
9,086
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.
6
Federal Reserve Bulletin Statistical Supplement • August 2005
1.12
RESERVES AND BORROWINGS
Depository Institutions'
Millions of dollars
Prorated monthly averages of biweekly averages
Reserve classification
Apr.1
Reserve balances with Reseive Banks2
Total vault cash1
Applied vault cash4
Surplus vault cash5
Total reserves"
Required reserves
Excess reseive balances at Reseive Banks7
Total borrowing at Reserve Banks
Primary
Secondary
Seasonal
Adjustment
9,926
43,362
30,347
13,016'
40,272
38,263
80
45
35
10,861
44,063'
32,086'
1 1,976'
42,947'
41,906
1,040'
46
17
0
12,047
47,261
34,803
12,458
46,850
12,088
45,578
33,541
12,037
44,940
1,909
43,845
1,784
183
105
0
78
63
0
52
29
45,629
12,047
47,261
34,803
12,458
46,850
44,940
1,909
14,075
47,677
36,365
1 1,311
50,440
48,699
63
1,741
62
0
52
39
0
23
12,272
47,657
34,445
13,213
46,716
45,221
1,495
42
26
0
16
12,060
46,740
33,973
12,767
46,033
44,251
1,782
49
13
0
37
12,965
45,330
33,710
11,620
46,675
45,006
1,669
132
52
0
80
May
12,046
45,590
34,431
11,159
46,477
44,955
1,522
139
6
0
133
Biweekly averages of daily figures for two-week periods ending on dates indicated
1 Reseive balances with Reseive Banks2
2 Total vault cash3
3
Applied vault cash4
4
Surplus vault cash5
5 Total reserves"
6
Required reserves
7
Excess reseive balances at Reseive Banks7 . .
8 Total borrowing at Reserve Banks
9
Primary
10 Secondary
1 1 Seasonal
12 Adjustment
16,798
48,237
38,413
10,214
48,313
33,278
9,824
15,036
43,491
42,064
1,427
30
16
0
15
55,211
53,678
1,533
69
49
0
21
13,919
46,796
35,145
11,651
49,064
47,496
1,568
51
35
0
17
1. Data in this table also appear in the Board's H.3 (502) weekly statistical release,
available at www.federalreserve.gov/releases. Data are not break-adjusted or seasonally
adjusted.
2. Excludes required clearing balances and adjustments to compensate for float and
includes other off-balance-sheet "as-of' adjustments.
3. Vault cash eligible to satisfy reseive 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 reseive
requirements.
11,077
45,881
32,136
13,745
43,213
41,412
1,801
39
7
0
12,850
47,688
35,774
11,914
48,623
46,830
1,793
51
9
0
42
Apr.
Apr. 27'
May I
May 25
11,072
45,391
32,135
13,257
43,207
41,416
1,791
175
15,087
45,242
35,170
10,073
50,257
48,638
1,618
11,267
45,472
33,725
11,748
12,730
45,882
35,156
10,727
47,886
46,375
1,511
146
5
0
141
94
6
44,992
43,619
1,372
123
7
0
117
11,879
45,124
34,036
11,089
45,914
44,093
1,821
154
7
0
148
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. Reseive balances with Federal Reseive Banks (line 1) plus applied vault cash (line 3).
7. Total reserves (line 5) less required reserves (line 6).
Policy Instruments
1.14
1
FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
1
Secondary credit2
Primary credit
Federal Reserve
Bank
Boston
Vew York
Philadelphia
Cleveland
Richmond
Atlanta
On
8/26/05
Effective date
Previous rate
On
8/26/05
Effective date
Previous rate
On
8/26/05
Effective date
Previous rate
4.50
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
4.25
5.00
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
4.75
3.65
8/18/05
3.45
i
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit1
8/9/05
8/10/05
8/9/05
8/9/05
8/9/05
8/9/05
4.50
1
4.25
5.00
i
8/9/05
8/10/05
8/9/05
8/9/05
8/9/05
8/9/05
1
4.75
1
3.65
8/18/05
3.45
Range of rates for primary credit
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2.25
2.25
2003—June 25
26
2.00-2.25
2.00
2.00
2.00
">004—June 30
July 1
Aug. 10
11
Sept. 21
^ 00-^ ^5
2.25
2.25-2.50
2.50
2.50-2.75
2.75
2.75-3.00
3.00
3.00-3.25
3.25
T
3.25-3.50
3.50
Effective date
In effect Jan. 9,2003
(beginning of program)
Nov. 10
12
Dec. 14
15
2005—Feb.
2
^5
2.25
2.50
2.50
2.75
2.75
3.00
3.00
3.25
3.25
Effective date
2005—Feb. 3
Mar. 22
24
May 3
4
June 30
July 1
Aug. 9
10
In effect August 26. 2005
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
3.50
3.50-3.75
3.75
3.75-4.00
4.00
4.00^.25
4.25
4.25^.50
4.50
3.50
3.75
3.75
4.00
4.00
4.25
4.25
4.50
4.50
4.50
4.50
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
"•001—June ^7
29
Aug. 21
23
Sept. 17
18
Oct. 2
4
Nov. 6
8
Dec. 11
13
3 ^5-3 50
3.25
3.00-3.25
3.00
2.50-3.00
2.50
2.00-2.50
2.00
1.50-2.00
1.50
1.25-1.50
1.25
3.25
3.25
3.00
3.00
2.50
2.50
2.00
2.00
1.50
1.50
1.25
1.25
2002—Nov. 6
7
0.75-1.25
0.75
0.75
0.75
0.75
0.75
Range of rates for adjustment credit in recent years4
Effective date
In effect Dec. 31. 1995
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.25
5.25
1996—Jan. 31
Feb. 3
5.00-5.25
5.00
5.00
5.00
1998—Oct. 15
16
Nov. 17
19
4.75-5.00
4.75
4.50-4.75
4.50
4.75
4.75
4.50
4.50
1999—Aug. 24
26
Nov. 16
18
4.50-4.75
4.75
4.75-5.00
5.00
4.75
4.75
4.75
5.00
Effective date
2000—Feb.
2
4
Mar. 21
23
May 16
19
2001—Jan.
Feb.
Mar.
Apr.
May
3
4
5
31
1
20
21
18
20
15
17
1. Available for veiy short terms as a backup source of liquidity to depositoiy 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 depositoiy institutions meet regular seasonal needs for
funds that arise from a clear pattern of intrayearly movements in their deposits and loans. The
discount rate on seasonal credit takes into account rates charged on market sources of funds
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.00-5.25
5.25
5.25-5.50
5.50
5.50-6.00
6.00
5.25
5.25
5.50
5.50
5.50
6.00
5.75-6.00
5.50-5.75
5.50
5.00-5.50
5.00
4.50-5.00
4.50
4.00^.50
4.00
3.50-4.00
3.50
5.75
5.50
5.50
5.00
5.00
4.50
4.50
4.00
4.00
3.50
3.50
In effect Jan. 8, 2003
(end of program)
and ordinarily is reestablished on the first business day of each two-week reserve maintenance
period.
4. Was available until January 8, 2003, to help depositoiy 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; the Annual Statistical Digest, 1970-1979, 1980-1989, and
1990-1995; and the Statistical Digest, 1996-2000. See also the Board's Statistics: Releases
and Historical Data webpages www.federalreserve.gov/releases/H15/data.htm.
8
1.15
Federal Reserve Bulletin Statistical Supplement • August 2005
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Net transaction accounts1
1 $0 million-$7.0 million2
2 More than $7.0 million-$47.6 million3
3 More than $47.6 million
Percentage of
liabilities
Effective date
0
3
10
12/23/04
12/23/04
12/23/04
4 Nonpersonal time deposits
0
5 Eurocurrency liabilities
0
NOTE. Required reserves must be held in the form of vault cash and, if vault cash is
insufficient, also in the form of a deposit with a Federal Reserve Bank. An institution that is a
member of the Federal Reserve System must hold that deposit directly with a Reserve Bank;
an institution that is not a member of the System can maintain that deposit directly with a
Reserve Bank or with another institution in a pass-through relationship. Reserve requirements
are imposed on commercial banks, savings banks, savings and loan associations, credit
unions, U.S. branches and agencies of foreign banks, Edge Act corporations, and agreement
corporations.
1. Total transaction accounts consist of demand deposits, automatic transfer service (ATS)
accounts, NOW accounts, share draft accounts, telephone or preauthorized transfer accounts,
ineligible acceptances, and obligations issued by affiliates maturing in seven days or less. Net
transaction accounts are total transaction accounts less amounts due from other depository
institutions and less cash items in the process of collection.
For a more detailed description of these deposit types, see Form FR 2900 at
www.federalreserve.gov/boarddocs/reportfonns.
2. The amount of net transaction accounts subject to a reserve requirement ratio of zero
percent (the "exemption amount" ) is adjusted each year by statute. The exemption amount is
adjusted upward by 80 percent of the previous year's (June 30 to June 30) rate of increase in
total reservable liabilities at all depositoiy institutions. No adjustment is made in the event of
a decrease in such liabilities.
3. The amount of net transaction accounts subject to a reserve requirement ratio of 3
percent is the "low reserve tranche." By statute, the upper limit of the low reserve tranche is
adjusted each year by 80 percent of the previous year's (June 30 to June 30) rate of increase or
decrease in net transaction accounts held by all depositoiy institutions.
Policy Instruments
1.17
9
FEDERAL RESERVE OPEN MARKET TRANSACTIONS'
Millions of dollars
Type of transaction
and maturity
Apr.
U.S. TREASURY SECURITIES2
Outright transactions
Treasury bills
Gross purchases . . .
Gross sales
Exchanges
For new bills
Redemptions
Others within one year
Gross purchases . . .
Gross sales
Maturity shifts . . . .
Exchanges
Redemptions
One to five years
Gross purchases . . .
Gross sales
Maturity shifts . . . .
Exchanges
Five to ten years
Gross purchases . . .
Gross sales
Maturity shifts . . . .
Exchanges
More than ten years
Gross purchases . . .
Gross sales
Maturity shifts . . . .
Exchanges
All maturities
Gross purchases . . .
Gross sales
Redemptions
18,138
0
821,685
821,685
0
59,837
59,837
0
7,994
0
1,593
0
657,931
657,931
738,886
738,886
12,720
0
89,108
-92,075
6,565
0
96,433
-103,153
12,748
0
-73,093
88,276
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
5,074
0
-11,588
3,800
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
2,280
0
-4,427
220
0
-8,938
1,364
0
-10,524
0
400
0
0
54,242
0
36,856
0
50,507
0
0
6,484
0
5,977
0
4,840
0
153,500
157,500
166,750
158,250
155,250
156,000
103,380
-118,373
0
2,765
0
0
0
0
0
78,822
78,822
0
60,682
60,682
73,029
73,029
62,448
62,448
66,741
66,741
0
19,781
-23,125
1,499
0
7,987
-7,948
0
6,928
-8,000
0
2,989
-12,710
333
2,284
0
-16,031
20,655
2,404
0
-7,987
7,948
0
-6,928
5,000
0
3,180
11,498
0
0
-8,334
8,000
1,200
0
0
0
453
0
-84
2,471
340
0
0
0
-3,1 12
1,212
0
0
0
0
470
0
0
0
0
0
-3,058
0
0
0
0
230
0
0
35
0
333
0
0
1,900
0
148,500
152,750
125,250
120,250
201,500
204,250
163,500
167,000
655,872
658,454
563,559
559,501
490,482
488,781
581,322
580,402
505,211
507,649
-3,332
-193
6,700
-1,831
-5,938
1,508
-193
6,402
-2,041
-4,038
85
0
0
0
3,000
0
0
8,334
-8,000
63,637
63,637
0
0
0
0
26 Net change in U.S. Treasury securities
FEDERAL AGENCY OBLIGATIONS
Outright transactions
27 Gross purchases
28 Gross sales
29 Redemptions
0
0
10
30 Net change in federal agency obligations
-10
TEMPORARY TRANSACTIONS
Repurchase agreements*
31 Gross purchases
32 Gross sales
Matched sale-purchase agreements
33 Gross purchases
34 Gross sales
Reverse repurchase agreements*
35 Gross purchases
36 Gross sales
4,981,624
4,958,437
231,272
252,363
4,942,131
4,946,691
5,621,153
5,626,285
510,553
511,896
547,160
548,325
45,589
36,536
34,626
1,140
13,312
Net change in temporary transactions
> Total net change in System Open Market Account
1. Sales, redemptions, and negative figures reduce holdings of the System Open Market
Account: all other figures increase such holdings.
2. Transactions exclude changes in compensation for the effects of inflation on the
principal of inflation-indexed securities. Transactions include the rollover of inflation compensation into new securities.
3. Cash value of agreements, which are collateralized by U.S. government and federal
agency obligations.
4. Cash value of agreements, which are collateralized by U.S. Treasury securities.
10
Federal Reserve Bulletin Statistical Supplement • August 2005
1.18
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements1
Millions of dollars
Wednesday
Apr. 27
May 4
May 11
May 18
May 25
Apr.
May
Consolidated condition statement
ASSETS
1 Gold certificate account
2 Special drawing rights certificate account . . .
3 Coin
4 Securities, repurchase agreements, and loans
5
Securities held outright
6
U.S. Treasury2
7
Bills'
8
Notes and bonds, nominal1
9
Notes and bonds, inflation-indexed1 .
10
Inflation compensation4
11
Federal agency1
12 Repurchase agreements5
13 Loans
14 Items in process of collection
15 Bank premises
16 Other assets
17
Denominated in foreign currencies"
18 All other7
19 Total assets .. .
11,037
2,200
710
11,037
2,200
688
1 1,037
2,200
11,037
2,200
740,996
675
747,704
656
745,520
749,493
718,638
718,638
719,372
719,372
721,565
721,565
721,629
721,629
264,288
435,683
19,108
2,549
0
23,750
141
5,494
1,815
11,037
2,200
722
746,955
719,350
719,350
1 1,037
2,200
608
759,382
724,471
724,471
810,230
803,428
812,060
807,255
807,030
814,005
720,324
25,308
29,416
24,025
4,998
79
315
719,274
26,179
22,857
17,391
5,080
721,744
25,186
29,757
23,881
5,518
79
278
717,216
725,719
25,386
29,029
25,000
3,585
126
318
5,396
3,353
30,622
24,705
6,334
3,424
719,092
24,106
30,577
24,984
5,219
139
235
5,618
3,299
263,005
264,263
435,683
19,108
2,511
0
1,809
434,785
19,108
2,473
0
21,500
124
7,545
1,810
39,757
20,636
39,986
20,742
19,122
19,243
1,814
40,200
20,545
19,656
811,656
804,262
718,816
25,068
31,652
24,915
719,737
105
11,037
2,200
720
748,378
717,326
717,326
20,311
16,395
263,005
6,649
633
754,141
722,992
722,992
264,515
436,781
19,108
2,587
0
31,000
149
5,210
1,818
37,021
20,208
16,813
434,085
19,108
2,439
0
30,750
1 1,037
2,200
26,000
138
6,600
36,706
263,005
263,005
264,765
432,885
19,108
2,328
0
31,000
52
4,593
1,802
38,524
20,539
17,985
434,785
19,108
2,451
0
27,500
105
4,235
1,813
40,068
20,735
19,333
437,978
19,108
2,620
0
34,750
160
2,074
1,820
36,884
19,964
16,920
LIABILITIES
20
21
22
23
24
25
26
27
28
Federal Reserve notes, net of F.R. Bank holdings .
Reverse repurchase agreements'*
Deposits
Depository institutions
U.S. Treasury, general account
Foreign official
Other
Deferred availability cash items
Other liabilities and accrued dividends9
6,356
88
26,060
22,164
17,110
4,618
294
7,600
3,332
79
357
7,657
3,292
786,468
30 Capital paid in
31 Surplus
32 Other capital accounts
12,742
11,357
1,089
33 Total capital
25,188
29 Total liabilities
26,544
5,538
105
274
3,024
3,452
6,555
3,334
273
6,337
3,350
778,911
784,937
777,997
786,445
782,692
781,538
788,202
12,753
11,397
1,200
12,771
11,412
1,110
12,909
11,393
1,128
12,859
11,417
1,340
12,560
11,177
826
12,751
11,353
1,388
12,864
1 1,392
1,546
25,293
25,431
1,398,378
1,073,504
324,874
1,509
1,402,467
1,074,542
327,924
6,714
CAPITAL ACCOUNTS
25,493
MEMO
34 Marketable securities held in custody for foreign official
and international accounts310
35
U.S. Treasury
36
Federal agency
37 Securities lent to dealers
1,389,101
1,076,061
313,040
1,752
1,400,271
1,075,587
324,684
2,096
1,423,013
1,084,986
338,027
5,675
1,390,628
1,081,403
309,226
6,298
1,400,765
1,078,361
322,405
3,990
1,426,560
1,085,090
341,470
4,380
Federal Reserve notes and collateral statement
38 Federal Reserve notes outstanding
39
Less: Notes held by F.R. Banks not
subject to collateralization
40
Federal Reserve notes to be collateralized
41 Collateral held against Federal Reserve notes
42
Gold certificate account
43
Special drawing rights certificate account
44
U.S. Treasury and agency securities pledged1'
45
Other assets pledged
855,465
856,894
858,402
860,122
861,375
854,334
855,526
861,383
136,649
718,816
718,816
11,037
2,200
137,157
719,737
719,737
1 1,037
2,200
140,848
719,274
719,274
1 1,037
2,200
705,579
0
706,500
0
138,078
720,324
720,324
11,037
2,200
707,087
0
706,037
0
139,631
721,744
721,744
11,037
2,200
708,507
0
135,242
719,092
719,092
1 1,037
2,200
705,855
0
138,310
717,216
717,216
11,037
2,200
703,979
0
135,664
725,719
725,719
1 1,037
2,200
712,481
0
749,388
740,872
747,565
745,379
753,992
748,326
746,850
759,221
25,086
26,079
25,326
26,198
25,204
24,123
26,573
25,407
724,302
714,793
722,239
719,181
728,788
724,204
720,277
733,815
MEMO
46 Total U.S. Treasury and agency securities"
47
Less: face value of securities under reverse repurchase
agreements12
48
U.S. Treasury and agency securities
eligible to be pledged
1. Some of the data in this table also appear in the Board's H.4.1 (503) weekly statistical
release, which is available at www.federalreserve.gov/releases.
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.
1 1. 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 of repurchase agreements.
12. Face value of agreements, which are fully collateralized by U.S. Treasury securities.
Federal Reserve Banks
1.19
FEDERAL RESERVE BANKS
11
Maturity Distribution of Loans and Securities
Millions of dollars
Wednesday
Type of holding and maturity
Apr. 27
May 4
May 1
May 18
May 25
May
Apr.
160
105
2 Within 15 days
3 16 days to 90 days
4 91 days to 1 year .
5 Total U.S. Treasury securities1
6 Within 15 days
7 16 days to 90 days
8 91 days to 1 year
9 Over 1 year to 5 years . .
10 Over 5 years to 10 years
1 1 Over 10 years
17
121
136
5
139
10
0
47
5
84
20
138
0
5
118
0
718,638
719,372
721,565
721,629
722,992
717,326
719,350
724,471
59,781
158,808
159,032
214,130
49,890
76,996
63,851
153,048
161,061
213,805
50,365
77,241
64,301
154,816
160,101
213,945
51,144
77,258
61,702
153,168
161,583
214,280
53,621
77,275
62,611
153,140
160,928
215,344
53,677
77,291
31,032
165,566
181,023
212,473
50,285
76,948
43,156
175,874
158,592
214,135
50,362
77,232
37,526
171,789
167,571
216,523
53,757
77,306
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
30,750
21,500
26,000
23,750
31,000
31,000
27,500
34,750
30,750
0
21,500
0
26,000
0
23,750
0
31,000
0
31,000
0
27,500
0
34,750
0
25,308
26,179
25,308
0
26,179
0
25,186
0
24,106
0
94
12 Total federal agency securities
Within 15 days
16 days to 90 days
91 days to 1 year
Over 1 year to 5 years
Over 5 years to 10 years
Over 10 years
19 Total repurchase agreements2
Within 15 days
16 days to 90 days
22 Total reverse repurchase agreements2
Within 15 days
16 days to 90 days . .
25,068
25,068
26,060
0
NOTE. Components may not sum to totals because of rounding.
1. Includes 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.
0
26,544
26,544
0
25,386
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • August 2005
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
Item
7001
Dec.
•>nm
Dec.
2004
2003
Dec.
2005
2004
Dec'
Oct.'
Nov.'
Dec'
Jan.'
Feb.'
Mar.'
Apr.'
May
47.48
47.42
45.74
761.16
45.96
45.92
44.47
764.31
46.81
46.76
45.03
766.51
46.59
46.45
44.92
767.42
45.89
45.75
44.36
768.40
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
2 Nonbonowed reserves4
4 Monetary base5
41.50
41.43
39.85
635.41
40.44
40.36
38.43
681.30
42.77
42.72
41.73
719.85
46.80
46.74
44.89
758.60
46.34
46.17
44.59
754.09
46.37
46.19
44.59
758.45
46.80
46.74
44.89
758.60
Not seasonally adjusted
6 Nonbonowed reserves
8 Monetary base*
41.18
41.11
39 53
639.91
40.13
40.05
38.12
686.23
42.45
42.41'
41.41
725.20
46.52
46.46
44.61
764.66
45.32
45.14
43.56
752.76
45.23
45.05
43.45
758.34
46.52
46.46
44.61
764.66
50.37
50.31
48.63
763.78
46.69
46.65
45.20
763.23
45.99
45.95
44.21
764.70
46.61
46.47
44.94
766.32
46.38
46.24
44.86
766.94
41.06
40.99
39.41
648.74
1.65
.07
40.27
40.19
38.26
697.15
2.01
.08
42.95'
42.90
41.91
737.62
1.04
.05
46.85
46.79
44.94
774.77
1.91
.06
45.67
45.49
43.91
763.58
1.76
.18
45.63
45.45
43.85
768.77
1.78
.18
46.85
46.79
44.94
774.77
1.91
.06
50.44
50.38
48.70
773.25
1.74
.06
46.72
46.68
45.22
772.48
1.50
.04
46.03
45.98
44.25
773.85
1.78
.05
46.68
46.54
45.01
775.32
1.67
.13
46.48
46.34
44.96
775.69
1.52
.14
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS9
10 Nonbonowed reserves
1 1 Required reserves
12 Monetary base"
14 Borrowings from the Federal Reserve
1. Latest monthly and biweekly figures are available from the Board's H.3 (502) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 and estimates of the effect on required reserves of changes in reserve requirements are
available from the Monetary and Reserve Analysis 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, breakadjusted required reserves (line 3) plus excess reserves (line 13).
4. Seasonally adjusted, break-adjusted n on borrowed reserves equal seasonally adjusted,
break-adjusted total reserves (line 1) less total borrowings of depositoiy institutions from the
Federal Reserve (line 14).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters
whose vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
6. Break-adjusted total reserves equal break-adjusted required reserves (line 7) plus excess
reserves (line 13).
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. Breakadjusted 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 5), 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.
1 1. The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total
reserves (line 9), 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 9) less unadjusted required reserves (line 11).
Monetary and Credit Aggregates
1.21
13
MONEY STOCK MEASURES'
Billions of dollars, averages of daily figures
2001
Dec.1
2002
Dec.1
2003
Dec.1
2004
Dec.1
Apr.'
May
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
4
5
6
7
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits" . .
Nontransaction components
8 In M27
9 In M3 only*
Commercial banks
10 Savings deposits, including MMDAs
1 1 Small time deposits9
12 Large time deposits10'"
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
Money market mutual funds
16 Retail11
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
1,182.0
5,451.1
8,037.2
1,219.2
5,802.9
8,575.6
1,305.1
6,085.2
8,885.3
1,373.5
6,430.7
9,450.5
1,371.6
6,464.4
9,539.0
1,378.6
6,484.5
9,569.1
1,361.0
6,481.5
9,622.6
1,373.5
6,482.8
9,663.4
581.1
8.0
335.3
626.1
7.8
305.8
696.9
7.6
340.7
257.6
279.4
662.1
7.7
324.8
310.4
701.6
7.5
341.0
321.6
703.8
7.5
344.7
322.5
704.3
7.5
325.8
323.4
706.0
7.5
334.7
325.3
4,269.1
2,586.1
4,583.7
2,772.7
4,780.1
2,800.1
5,057.2
3,019.8
5,092.7
3,074.7
5,106.0
3,084.6
5,120.5
3,141.2
5,109.3
3,180.6
1,740.0
634.4
686.8
2,062.0
589.7
697.0
2,340.5
536.0
761.9
2,638.4
544.1
907.1
2,659.8
559.0
971.9
2,668.8
569.8
976.8
2,675.4
2,650.5
590.5
718.5
302.1
117.0
832.6
273.1
120.0
890.9
271.2
160.0
887.1
280.6
173.5
880.8
283.7
179.3
869.3
290.0
188.7
867.4
296.1
191.4
982.4
1,197.4
911.4
1,250.5
798.0
1,120.7
712.6
1,072.7
706.3
1,044.0
702.8
1,040.3
707.0
1,055.2
704.9
1,052.4
375.8
211.8
476.8
231.5
500.6
297.0
497.3
382.6
489.6
395.7
484.6
403.6
474.8
410.4
504.4
419.7
573.6
338.8
1 14.3
578.8
1,012.1
1,012.7
Not seasonally adjusted
Measures2
20 Ml
21 M2
22 M3
23
24
25
26
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits" . .
1,208.3
5,485.1
8,104.9
1,245.2
5,832.2
8,634.5
1,332.2
6,112.0
8,929.7
1,401.4
6,454.5
9,481.5
1,355.4
6,415.3
9,514.3
1,382.4
6,479.6
9,588.7
1,371.9
6,526.8
9,671.5
1,369.1
6,47 1.9
9,675.0
585.2
630.3
7.7
323.5
666.7
7.6
702.4
7.5
358.8
332.7
700.7
7.5
331.1
316.2
702.7
7.4
345.4
326.8
704.0
7.4
342.8
315.0
705.3
7.4
331.5
324.8
4,779.8
2,817.7
5,053.1
3,027.0
5,059.8
3,099.0
5,097.2
3,109.2
5,155.0
3,144.7
5,102.9
3,203.1
2,650.8
7.9
354.2
283.8
Nontransaction components
27 In M27
28 In M3 only"
4,276.8
2,619.8
Commercial banks
29 Savings deposits, including MMDAs
30 Small time deposits9
31 Large time deposits10'"
1,742.5
635.2
690.1
2,061.0
590.4
699.0
2,337.3
536.5
762.7
2,632.8
544.6
907.1
2,631.1
559.7
962.0
2,656.0
570.5
972.7
2,698.6
579.3
590.2
1,014.5
1,029.0
Thrift institutions
32 Savings deposits, including MMDAs
33 Small time deposits9
34 Large time deposits10
574.4
339.2
114.8
718.2
302.4
117.3
831.5
273.3
120.1
889.0
271.5
160.0
877.5
281.0
171.7
876.6
284.1
178.5
876.9
290.2
189.1
867.5
296.0
194.5
985.5
1,228.1
915.1
1,280.8
801.2
1,143.8
715.2
1,089.9
710.6
1,067.1
710.1
1,052.1
710.0
1,046.4
698.4
1,038.8
376.5
210.3
476.4
228.8
498.2
292.8
493.1
377.0
495.8
402.4
492.4
413.5
473.6
421.0
511.7
429.0
Money market mutual funds
35 Retail11
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appear on following page.
14
Federal Reserve Bulletin Statistical Supplement • August 2005
NOTES TO TABLE 1.21
1. Latest monthly and weekly figures are available from the Board's H.6 (508) weekly
statistical release, available at www.federalreserve.gov/releases. 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:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depositoiy institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depositoiy institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depositoiy institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement account (IRA) and Keogh balances at depositoiy institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted M 1.
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depositoiy institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depositoiy institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the result to seasonally adjusted M2.
3. Currency outside the U.S. Treasury, Federal Reserve Banks, and vaults of depositoiy
institutions.
4. Outstanding amount of U.S. dollar-denominated travelers checks ofnonbank issuers.
Travelers checks issued by depositoiy institutions are included in demand deposits.
5. Demand deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations (excluding those amounts held by
depositoiy 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 depositoiy institutions, credit union
share draft account balances, and demand deposits at thrift institutions.
7. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances.
8. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted.
9. Small time deposits are those issued in amounts of less than $100,000. All IRAs and
Keogh accounts at commercial banks and thrift institutions are subtracted from small time
deposits.
10. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
1 1. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depositoiy institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
12. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
A. All commercial banks
15
Assets and Liabilities'
Billions of dollars
Wednesday figures
Monthly averages
Account
July
2005
2005
2004
Jan.
Feb.
Mar.
Apr.'
May'
June'
July
July 6
July 13
July 20
July 27
Seasonal! { adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Other securities
5
Loans and leases in bank credit1 . . . .
6
Commercial and industrial
7
Real estate
8
Revolving home equity
9
Other
10
Consumer
11
Security4
12
Other loans and leases
13 Interbank loans
14 Cash assets5
15 Other assets"
6,597.9'
1,908.5'
1,180.7
727.8'
4,689.3
896.3'
2,418.7'
347.0
2,071.7'
691.0
238.0
445.4'
373.5
331.7
624.8
6,891.9
1,990.9
1,183.9
806.9
4,901.1
946.7'
2,569.7'
406.4
2,163.3'
702.9
200.7
481.1'
289.5
337.5
660.4
6,998.9
2,038.7
1,219.8
819.0
4,960.2
957.1'
2,598.1'
408.2
2,189.9'
700.7
221.4
482.8'
293.7
334.5
667.1
7,086.1
2,057.9
1,220.4
837.5
5,028.2
963.7'
2,652.1'
416.1
2,236.0'
708.7
228.4
475.4'
276.4
350.5
687.9
7,108.7
2,044.0
1,195.5
848.6
5,064.7
976.9
2,677.8
420.2
2,257.6
711.4
223.9
474.7
287.3
332.8
680.4
7,158.2
2,070.7
1,202.0
868.7
5,087.5
988.4
2,683.2
423.6
2,259.6
704.7
236.1
475.1
285.5
340.2
678.8
7,206.7
2,053.5
1,174.6
878.9
5,153.2
993.8
2,722.0
427.0
2,295.1
707.5
246.4
483.4
264.6
344.0
695.9
7,258.2
2,060.5
1,178.2
882.3
5,197.7
1,007.4
2,767.5
431.0
2,336.6
711.8
229.9
481.0
255.8
327.9
683.5
7,225.2
2,056.0
1,174.9
881.1
5,169.2
1,001.8
2,745.1
428.9
2,316.3
706.4
242.1
473.7
238.6
340.5
676.7
7,239.3
2,062.1
1,179.5
882.6
5,177.2
1,001.4
2,763.0
429.2
2,333.9
707.5
235.4
469.7
247.9
323.4
688.2
7 ^58.6
2,066.4
1,181.6
884.8
5,192.2
1,008.5
2,769.9
432.1
2,337.8
711.7
218.5
483.7
267.6
319.4
681.3
7,276.6
2,055.8
1,177.2
878.6
5,220.8
1,014.2
2,774.0
432.5
2,341.4
718.9
224.5
489.2
261.0
326.9
686.7
16 Total assets7
7,856.7'
8,109.8
8,225.3
8,332.6
8,340.9
8,394.4
8,442.8
8,456.8
8,412.8
8,430.2
8,458.3
8,482.4
5,156.7
658.0
4,498.7
1,149.1
3,349.6
1 59^ 7
458.6
1,134.0
51.9
475.0
5,370.8'
663.9'
4,706.9'
1,227.4'
3,479.5'
1 550 7
362.6
1,188.1
67.1
479.3
5,391.0'
676.8'
4,714.2'
1,226.4'
3,487.8'
1 59^ 3
376.3
1,216.0
63.0
481.9
5,452.5'
704.3
4,748.2'
1,249.4'
3,498.8'
1 6° 1 4
363.9
1,257.5
71.9
493.5
5,498.0
674.4
4,823.6
1,293.7
3,529.9
1 609 7
374.5
1,235.1
40.9
511.9
5,508.2
678.5
4,829.7
1,295.8
3,533.9
1 6^3 0
362.6
1,260.4
68.2
494.3
5,547.5
696.4
4,851.1
1,316.1
3,535.0
1 6^0 6
361.2
1,259.4
53.3
498.7
5,567.0
663.5
4,903.4
1,313.2
3,590.3
1610 7
336.6
1,274.1
102.1
489.6
5,560.9
642.1
4,918.8
1,309.1
3 609.8
1 583 9
330.1
1,253.8
80.9
497.6
5,545.0
636.0
4,909.0
1,299.5
3,609.4
1 598 6
327.1
1,271.5
102.8
495.0
5,564.3
687.6
4,876.7
1,315.8
3,560.8
1,609.9
339.6
1,270.3
106.8
491.3
5,580.9
710.4
4,870.5
1,318.5
3,552.1
1,631.0
343.8
1,287.2
105.8
477.8
7,276.2
7,467.8'
7,528.2'
7,639.3'
7,660.4
7,693.7
7,720.2
7,769.3
7,723.3
7,741.5
7,772.2
7,795.5
580.5'
642.0'
697.1'
693.2'
680.4
700.7
722.6
687.5
689.5
688.8
686.1
686.9
17
18
19
20
21
"^
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)8
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit1 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets"
46 Total assets7
47
48
49
50
51
52
53
54
55
56
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
57 Total liabilities
58 Residual (assets less liabilities)8
Footnotes appear on p. 21.
6,579.4'
1 903 ^'
1,179.1
724.1'
4,676.2
895.1'
2,414.1'
347.7
2,066.4'
683.6
292.6
391.0
234.4
449.0'
370.0
326.2
625.7
6,902.3
1 993 4
1,179.3
814.1
4,908.9
942.5'
2,568.8'
404.6
2,164.3'
716.3
318.7
397.6
202.8
478.5'
285.6
347.1
661.1
6,984.3
^ 035 3
1,215.0
820.4
4,948.9
956.8'
2,592.8'
408.4
2,184.4'
705.8
305.5
400.3
219.4
474.1'
288.7
331.6
662.2
7,052.2'
^ 048 6
1,215.7'
832.9'
5,003.6'
966.7'
2,636.6'
413.0
2,223.6
702.2
302.7
399.5
227.4
470.7'
279.9
337.3
683.2
7,088.1
^ 040 0
1,198.6
841.4
5,048.1
981.7
2,665.5
418.9
2,246.7
702.9
304.3
398.6
225.4
472.5
295.6
328.2
678.6
7,149.8
2,074.1
1,210.3
863.8
5,075.7
992.7
2,683.0
424.5
2,258.4
698.8
302.4
396.3
228.1
473.2
286.1
334.8
678.5
7 ^00 8
2,055.2
1,178.4
876.8
5,145.6
996.5
2,716.0
428.4
2,287.6
700.3
305.7
394.6
246.5
486.2
265.3
335.6
692.0
7 ^39 1
2,054.5
1,176.8
877.7
5,184.6
1,006.0
2,762.3
431.8
2,330.5
704.3
307.3
397.1
226.9
485.0
252.9
322.4
684.6
7^1 ^
2,055.6
1,178.5
877.0
5,165.7
1,006.5
2,739.4
429.8
2,309.6
698.0
305.0
392.9
236.6
485.2
244.7
353.2
682.8
7^15 8
2,052.7
1,175.9
876.8
5,163.1
1,000.0
2,759.4
430.1
2,329.3
699.1
304.6
394.5
231.5
473.1
243.5
314.1
688.5
7 ^33 4
2,054.4
1,175.8
878.5
5,179.1
1,006.6
2,763.2
432.5
2,330.6
704.5
309.0
395.4
218.0
486.8
261.8
310.1
680.6
7 ^47 6
2,050.2
1,175.9
874.3
5,197.5
1,008.6
2,767.9
433.5
2,334.4
712.6
310.6
402.0
220.9
487.5
250.5
310.1
683.7
7,830.3'
8,126.6
8,197.6
8,283.8
8,322.4
8,380.9
8,425.2
8,430.6
8,433.9
8,393.6
8,417.4
8,423.4
5,141.9
655.6
4,486.3
1,146.1
3,340.1
1,593.9
458.4
1,135.5
44.4
466.3
5,372.1'
676.5'
4,695.6'
1 ^38 1'
3,457.5'
1,547.4
359.6
1,187.8
72.1
484.9
5,393.6'
668.6'
4,725.0'
1 ^37 1'
3,488.0'
1,590.4
373.8
1,216.6
67.9
488.3
5,445.8'
694.9
4,750.9'
1 ^ 7'
3,498.2'
1,609.3
365.1
1,244.2
65.2
485.1
5,517.3
681.1
4,836.2
1 300 ^
3,536.0
1,616.2
379.0
1,237.2
24.1
490.4
5,499.4
668.8
4,830.5
1 305 5
3,525.0
1,641.2
363.2
1,278.1
63.8
489.8
5,548.7
689.0
4,859.7
1,323.8
3,535.9
1,632.3
360.7
1,271.6
48.7
494.2
5,550.9
661.0
4,889.9
1,309.8
3 580.1
1,612.1
336.4
1,275.7
93.3
480.4
5,599.3
662.4
4,936.9
1,304.6
3,632.3
1,591.9
330.9
1,260.9
67.9
484.7
5,530.1
630.0
4,900.1
1,296.5
3,603.6
1,598.1
326.7
1,271.4
91.9
482.8
5,531.2
678.5
4,852.7
1,312.3
3,540.4
1,613.3
339.0
1,274.3
96.6
480.7
5,521.8
695.8
4,826.0
1,315.9
3,510.1
1,627.7
342.3
1,285.4
103.3
474.5
7,246.5
7,476.5'
7,540.2'
7,605.4'
7,648.0
7,694.1
7,724.0
7,736.7
7,743.7
7,702.9
7,721.9
7,727.3
583.8'
650.1'
657.5'
678.5'
674.4
686.7
701.2
693.9
690.2
690.7
695.5
696.1
16
Federal Reserve Bulletin Statistical Supplement • August 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES
B. Domestically chartered commercial banks
Assets and Liabilities'—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
July
2005
2005
2004
Jan.
Feb.
Mar.
Apr.'
May'
June'
July
July 6
July 13
July 20
July 27
Seasonal! { adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit1 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security 4
Other loans and leases
Interbank loans
Cash assets5
Other assets"
16 Total assets7
17
18
19
20
21
"^
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)8
5,947.8'
1.648.3'
1,089.3
559.0'
4,299.6'
764.0'
2,401.3'
347.0
2,054.3'
691.0
86.6
356.6'
335.4
268.7
586.1
6,218.5
1,683.5
1,096.4
587.1
4,535.1
803.0'
2,550.6'
406.4
2,144.2'
702.9
99.0
379.6'
244.2
270.7
629.2
6,301.4
1,723.1
1,122.7
600.4
4,578.3'
811.6'
2,579.2'
408.2
2,171.0'
700.7
107.8
379.0'
252.0
270.4
635.9
6,381.3'
1,740.8
1,125.6
615.3'
4,640.4
818.5'
2,633.1'
416.1
2,217.1
708.7
107.9
372.2'
233.4
285.4
654.7
6,404.1
1 733 9
1,109.3
624.5
4,670.2
826.2
2,658.6
420.2
2,238.4
711.4
104.9
369.1
242.3
268.7
646.2
6,436.0
1 756 3
1,113.8
642.5
4,679.7
833.4
2,665.0
423.6
2,241.4
704.7
106.7
369.9
237.6
276.0
643.2
6,475.8
1 734 3
1,085.8
648.5
4,741.5
839.2
2,703.8
427.0
2,276.9
707.5
113.4
377.5
215.5
279.6
658.1
6,514.9
1 733 7
1,090.7
643.0
4,781.3
845.6
2,751.0
431.0
2,320.0
711.8
103.0
369.8
205.4
262.1
646.1
6,493.2
1 730 3
1,086.1
644.2
4,762.8
843.7
2,728.6
428.9
2,299.8
706.4
117.4
366.7
189.7
276.5
639.6
6,496.2
1 734 0
1,090.0
644.0
4,762.2
840.6
2,746.5
429.2
2,317.4
707.5
105.9
361.6
198.9
258.0
649.2
6,515.5
1 738 5
1,093.0
645.5
4,777.0
846.8
2,753.5
432.1
2,321.4
711.7
95.9
369.2
214.5
253.2
646.8
6,528.7
1 73^ 3
1,092.8
639.5
4,796.3
849.6
2,757.5
432.5
2,324.9
718.9
95.5
375.0
215.2
261.5
650.1
7,067.3'
7,293.5
7,391.3
7,486.8
7,493.4
7,524.9
7,561.1
7,560.4
7,531.1
7,534.2
7,561.8
7,587.2
4,606.8
646.5
3,960.3
631.7
3,328.6
1 ^61 ^
417.6
843.6
235.5
388.5
4,806.2'
652.1'
4,154.0'
690.3'
3,463.8'
1 ^01 ^
322.4
878.7
265.1
387.2
4,837.7'
663.6'
4,174.0'
710.1'
3,463.9'
1 ^9 6
332.1
897.5
248.7
385.9
4,891.5'
689.8
4,201.7'
723.4'
3,478.3'
1 ^53 9
320.0
933.9
253.3
402.0
4,909.1
660.1
4,249.0
736.7
3,512.3
1,248.9
330.3
918.7
244.1
418.5
4,920.8
664.3
4,256.5
741.9
3,514.5
1,256.4
322.7
933.7
260.8
401.3
4,945.7
682.3
4,263.4
747.2
3,516.3
1 ^
^
316.5
945.7
236.7
400.8
4,984.8
649.0
4,335.7
763.2
3,572.6
1 ^46 ^
295.5
950.7
249.2
395.6
4,987.5
628.2
4,359.4
767.0
3,592.3
1 ^9 8
292.1
937.7
218.5
403.3
4,973.2
622.4
4,350.8
757.6
3,593.2
1 ^36 5
286.7
949.8
243.0
396.1
4,979.0
672.9
4,306.1
764.1
3,542.0
1 ^53 0
299.8
953.2
248.7
396.9
4,991.2
695.1
4,296.1
763.0
3,533.1
1 ^60 7
303.1
957.6
269.9
389.5
6,492.0
6,659.7'
6,701.9'
6,800.6'
6,820.6
6,839.3
6,845.5
6,875.8
6,839.2
6,848.8
6,877.6
6,911.3
575.3'
633.8'
689.4'
686.2'
672.8
685.6
715.6
684.6
691.9
685.4
684.2
675.9
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security 4
Other loans and leases
Interbank loans
Cash assets5
Other assets"
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)8
Footnotes appear on p. 21.
5,933.2'
1,642.9'
1,087.7
555.3'
4,290.2
763.5'
2,396.7'
347.7
2,049.0'
1,051.4'
997.6'
683.6
292.6
391.0
87.1
359.3'
332.0
263.8
588.1
6,226.4
1,686.0
1,091.7
594.3
4,540.4
798.2'
2,549.7'
404.6
2,145.2'
1,079.9'
1,065.3'
716.3
318.7
397.6
98.0
378.1'
240.3
280.7
627.9
6,285.1
1,719.7
1,117.9
601.8
4,565.4
809.6'
2,573.9'
408.4
2,165.5'
1,087.8'
1,077.7'
705.8
305.5
400.3
103.7
372.5'
247.0
268.4
629.3
6,344.1'
1,731.5
1,120.9
610.6
4,612.6'
819.5'
2,617.6'
413.0
2,204.6'
1,109.7'
1,095.0'
702.2
302.7
399.5
105.5
367.8'
236.9
274.4
650.0
6,378.0
1,729.9
1,112.5
617.4
4,648.1
829.9
2,646.3
418.9
2,227.5
1,121.8
1,105.7
702.9
304.3
398.6
103.3
365.7
250.6
264.8
645.8
6,430.2
1,759.8
1,122.1
637.7
4,670.4
837.7
2,664.7
424.5
2,240.2
1,122.7
1,117.5
698.8
302.4
396.3
101.8
367.4
238.1
271.3
642.3
6,469.8
1,736.0
1,089.6
646.4
4,733.8
842.5
2,697.9
428.4
2,269.4
1,139.9
1,129.5
700.3
305.7
394.6
114.4
378.7
216.2
271.8
654.2
6,498.9
1,727.7
1,089.3
638.5
4,771.2
845.1
2,745.8
431.8
2,314.0
1,171.0
1,143.0
704.3
307.3
397.1
103.5
372.5
202.5
257.3
648.4
6,492.2
1,729.9
1,089.7
640.2
4,762.3
849.0
2,722.9
429.8
2,293.1
1,160.6
1,132.6
698.0
305.0
392.9
116.5
376.0
195.9
289.8
647.1
6,475.9
1,724.6
1,086.4
638.2
4,751.3
840.1
2,742.9
430.1
2,312.8
1,172.4
1,140.4
699.1
304.6
394.5
105.7
363.5
194.6
249.6
650.5
6,492.0
1,726.5
1,087.2
639.3
4,765.5
845.4
2,746.8
432.5
2,314.3
1,169.5
1,144.8
704.5
309.0
395.4
97.8
371.0
208.6
244.9
647.4
6,504.8
1,726.7
1,091.5
635.2
4,778.1
845.2
2,751.4
433.5
~> 317.9
1,169.1
1,148.8
712.6
310.6
402.0
95.7
373.1
204.7
245.5
648.1
7,046.5'
7,306.3
7,361.0
7,437.0
7,471.5
7,513.9
7,543.8
7,539.0
7,557.2
7,502.6
7,524.7
7,535.0
4,593.5
644.2
3,949.3
630.2
3,319.1
1 ^
4
417.5
845.0
229.7
380.9
4,800.2'
664.3'
4,135.8'
694.3'
3,441.6'
1 197 9
319.5
878.4
269.4
392.2
4,833.0'
655.4'
4,177.6'
713.8'
3,463.8'
1 ^7 7
329.7
898.0
254.0
392.5
4,879.3'
680.9
4,198.4'
720.9'
3,477.5'
1 ^41 8
321.2
920.6
247.1
394.0
4,916.6
667.0
4,249.5
731.5
3,518.0
1 ^55 5
334.7
920.8
229.8
398.9
4,898.6
654.9
4,243.7
738.5
3,505.2
1,274.7
323.3
951.4
258.5
398.2
4,938.3
674.9
4,263.4
746.5
3,516.9
1,273.9
315.9
957.9
235.0
398.3
4,970.2
646.5
4,323.7
761.3
3,562.4
1,247.7
295.3
952.4
242.4
387.6
5,029.1
647.9
4,381.1
766.1
3,615.0
1,237.8
292.9
944.9
210.0
393.0
4,959.5
616.5
4,343.0
755.7
3,587.4
1,236.0
286.3
949.7
234.1
385.2
4,947.3
664.0
4,283.4
761.7
3,521.6
1,256.5
299.3
957.2
240.7
387.5
4,931.6
680.7
4,250.9
759.8
3,491.1
1,257.3
301.6
955.8
266.9
386.0
6,466.4
6,659.7'
6,707.2'
6,762.3'
6,800.7
6,830.1
6,845.4
6,847.9
6,869.8
6,814.7
6,832.0
6,841.8
580.1'
646.6'
653.8'
674.7'
670.7
683.9
698.4
691.1
687.4
687.9
692.7
693.2
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
C. Large domestically chartered commercial banks
17
Assets and Liabilities'—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
July
2005
2005
2004
Jan.
Feb.
Mar.
Apr.
May
June
July
July 6
July 13
July 20
July 27
3,595.4
1,022.1
597.2
53.5
543.7
444.2
99.5
424.9
214.5
210.4
37.5
172.9
2,573.3
491.4
1 345 6
301.0
1,044.6
657.5
387.1
380.9
97.7
3,607.1
1,026.2
599.4
46.7
552.7
453.0
99.7
426.8
216.4
210.4
37.6
172.8
2,580.9
495.3
1 351 3
303.2
1,048.1
658.3
389.8
382.5
87.2
3,619.0
1,020.9
599.0
47.7
551.3
451.1
100.2
421.9
214.0
208.0
37.8
170.2
2,598.1
496.3
1 358 ^
303.1
1,055.0
662.3
392.7
387.5
86.5
Seasonal! { adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Trading account
5
Investment account
6
Mortgage-backed
7
Other
8
Other securities
9
Trading account
10
Investment account
11
State and local government . .
12
Other
13
Loans and leases in bank credit1 . . . .
14
Commercial and industrial
15
Real estate
16
Revolving home equity
17
Other
18
Other residential
19
Commercial
20
Consumer
21
Security4
22
Federal funds sold to and
repurchase agreements
with broker-dealers
23
Other
24
State and local government
25
Agricultural
26
Federal funds sold to and
repurchase agreements with
others
27
All other loans
28
Lease-financing receivables
29 Interbank loans
30
Federal funds sold to and
repurchase agreements with
commercial banks
31
Other
32 Cash assets5
33 Other assets"
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
45 Total liabilities
46 Residual (assets less liabilities)8
Footnotes appear on p. 21.
3,325.0
932.5
581.7
38.2
543.5
432.8
110.6
350.8
189.8
161.0
33.1
127.8
2,392.5
456.1'
1,212.2
245.8
966.4
608.6
357.7
386.8
79.8
3,495.0
966.9
598.0
34.1
563.9
459.1
104.8
368.9
201.1
167.8
33.2
134.6
2,528.1
473.6'
1,297.0
291.1
1,005.9
635.7
370.2
390.2
91.0
3,547.9
1,005.3
624.6
51.3
573.3
467.7
105.6
380.6
203.3
177.4
34.3
143.1
2,542.7
479.9'
1,295.4
292.3
1,003.1
629.5
373.6
391.3
99.8
3,573.2'
1,024.7
632.6
52.2
580.5
472.6
107.9
392.1
204.9
187.2
35.2
152.0
2,548.5
482.5'
1,305.9
297.2'
1,008.7'
634.2
374.5
389.9
100.0
3,562.9
1,010.8
610.8'
47.8'
563.0
464.2
98.8
400.0'
208.1'
192.0
36.1
155.9
2,552.0'
486.8'
1,313.6
298.8'
1,014.8'
639.0'
375.8
388.5
96.6
3,569.5'
1,031.2
611.4
53.9'
557.5
458.2
99.3
419.9'
218.7'
201.1
36.8
164.3
2,538.3
490.6'
1,300.5
299.6'
1,000.9'
623.2'
377.6
382.0
98.4
3,588.2
1,019.3
591.0'
51.0
540.0
440.7
99.3
428.3
224.0
204.3
36.6
167.7
2,568.9
493.9'
1316 3
299.9'
1,016.3'
634.2'
382.1
380.0
105.1
3,608.8
1,022.0
597.6
49.4
548.2
448.9
99.3
424.4
214.9
209.5
37.6
171.9
2,586.8
494.8
1 349 ^
302.2
1,047.0
658.5
388.5
382.7
94.6
3,595.1
1,019.4
594.2
49.4
544.8
447.0
97.9
425.2
216.5
208.7
37.4
171.3
2,575.6
495.6
1 3^8 8
300.9
1,027.9
646.2
381.7
378.1
109.5
59.2
20.7
15.7
9.3
69.1
21.9
16.9
9.4
77.9
21.9
16.7
9.3
77.3
22.7
16.8
9.2
81.5
15.0
16.9
9.2
82.7
15.7
16.9
9.1
89.4
15.7
16.8
9.0
79.6
15.0
17.0
9.1
94.0
15.6
16.8
9.1
82.0
15.7
17.0
9.2
72.9
14.4
17.0
9.2
72.2
14.4
17.2
9.1
116.8'
93.6
261.9
27.5
126.9'"
95.6
164.4
27.3
127.5'
95.5
171.9
28.1
121.4'
94.7
157.7
124.5'
93.9
171.9
20.6
127.5'
92.7
164.4
26.2
129.2'
92.6
145.7
125.4
92.7
135.3
20.1
125.0
92.7
128.5
17.4
121.4
92.8
131.8
20.4
125.2
92.7
141.3
21.4
129.2
92.8
138.3
144.8
117.1
152.8
437.0
104.9
59.5
158.4
454.7
106.9
65.0
156.2
458.1
92.7
65.1
170.3
470.6
108.2
63.7
157.0
458.5
98.9
65.5
163.2
447.0
80.1
65.6'
168.3'
452.3'
67.3
68.1
150.2
445.9
61.4
67.1
162.9
433.7
62.4
69.4
146.5
445.8
73.4
68.0
143.4
451.0
69.6
68.8
148.2
454.0
4,138.1
4,235.8
4,298.1
4,336.7'
4,315.4'
4,309.7
4,320.1
4,306.1
4,286.4
4,285.3
4,308.8
4,325.5
2,371.4
310.0
2,061.4
301.9
1,759.5
774.0
225.3
548.8
221.4
314.5
2,465.8'
315.6'
2,150.2'
327.6'
1,822.6'
717.8
162.1
555.6
253.5
314.2
2,472.7'
322.3'
2,150.4'
340.2'
1,810.2'
735.0
165.9
569.1
240.0
316.7
2,500.8'
334.8
2,166.0'
344.2'
1,821.8'
758.9
153.2
605.8
247.4
329.1
2,503.9'
312.8
2,191.0'
351.6'
1,839.4'
750.0
162.5
587.4
238.6
346.1
2,507.5'
316.1
2,191.4'
353.4'
1,838.0'
742.6
152.3
590.3
250.2
327.8
2,519.7'
327.6
-> 19T i'
354.1'
1,838.0'
752.8
150.2
602.7
227.0'
324.9'
2,527.4
303.8
2,519.6
287.8
1,862.5
742.4
133.7
608.7
236.3
322.4
2,543.9
293.8
^ ^50 1
369.0
1,881.1
728.2
125.0
603.2
207.9
330.1
354.9
1,876.8
736.4
127.8
608.7
228.9
323.0
2,522.6
322.8
^ 199 8
362.0
1,837.8
746.3
138.1
608.3
236.9
323.6
2,524.8
328.1
2,196.7
360.3
1,836.4
752.9
142.1
610.8
255.4
316.1
3,681.4
3,751.3'
3,764.4'
3,836.3'
3,838.6'
3,828.1'
3,824.5'
3,828.4
3,810.1
3,807.9
3,829.4
3,849.2
456.7
484.6'
533.7'
500.4'
476.9'
481.6'
495.6'
477.6
476.3
477.3
479.4
476.3
-> ->->^ 6
361.1
->
TTI
7
18
Federal Reserve Bulletin Statistical Supplement • August 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities'—Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
July
2005
2005
2004
Jan.
Feb.
Mar.
Apr.
May
June
July
July 6
July 13
July 20
July 27
3,602.6
1,018.0
598.1
49.2
548.9
449.9
99.0
419.9
212.6
207.3
37.2
170.1
2,584.6
494.0
1 349 4
302.9
1,046.6
658.2
388.4
379.2
143.9
235.3
95.1
3,602.3
1,019.8
598.6
49.6
548.9
450.6
98.3
421.2
214.5
206.7
37.1
169.6
2,582.5
498.3
1 330 4
301.3
1,029.1
647.0
382.1
374.6
142.5
232.0
108.4
3,584.9
1,014.6
595.5
53.1
542.4
443.6
98.8
419.1
211.6
207.5
37.0
170.5
2,570.4
490.0
1 347 5
301.6
1,045.9
658.4
387.6
377.1
143.9
233.2
97.5
3,595.3
1,016.7
596.1
46.3
549.8
451.1
98.8
420.6
213.2
207.3
37.0
170.3
2,578.6
494.3
1 350 8
303.8
1,047.0
657.6
389.4
379.0
145.4
233.7
89.3
3,605.3
1,017.4
599.9
47.4
552.4
452.7
99.7
417.6
211.8
205.8
37.4
168.4
2,587.9
493.2
1,356.1
304.0
1,052.1
660.5
391.6
384.4
144.8
239.6
87.1
Not seasonally adjusted
Assets
47 Bank credit
48
Securities in bank credit
49
Treasury and Agency securities2 .
50
Trading account
51
Investment account
52
Mortgage-backed
53
Other
54
Other securities
55
Trading account
56
Investment account
57
State and local government .
58
Other
59 Loans and leases in bank credit3 . . .
60
Commercial and industrial
61
Real estate
62
Revolving home equity
63
Other
64
Other residential
65
Commercial
66
Consumer
67
Credit cards and related plans .
68
Other
69
Security4
70
Federal funds sold to and
repurchase agreements
with broker-dealers
71
Other
72
State and local government
73
Agricultural
74
Federal funds sold to and
repurchase agreements
with others
75
All other loans
76
Lease-financing receivables
77 Interbank loans
78 Federal funds sold to and
repurchase agreements
with commercial banks
79
Other
80 Cash assets5
81 Other assets"
82 Total assets7
83
84
85
86
87
88
89
90
91
92
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
93 Total liabilities
94 Residual (assets less liabilities)8
Footnotes appear on p. 21.
1,119.5
929.2
582.2
38.1
544.1
433.8
110.3
347.0
187.8
159.3
32.8
126.5
2,390.3
455.4'
1,212.3
246.3
966.0
608.4
357.6
383.4
139.4
244.1
80.3
3,499.5
970.3
594.2
33.9
560.3
456.1
104.2
376.1
205.0
171.1
33.8
137.3
2,529.1
469.4'
1,295.3
289.7
1,005.7'
635.5
370.1
397.0
156.7
240.3
90.3
3,533.0
1,002.1
620.1
51.7
568.4
462.0
106.3
382.0
204.0
178.0
34.4
143.6
2,530.9
477.9'
1,290.8
292.8
998.0
626.3
371.7
394.4
152.2
242.2
95.7
3,541.1
1,008.2
620.7
51.7
569.0
462.2
106.9
387.5
202.5
185.0
34.8
150.2
2,532.9
482.9'
1,297.6
294.8
1,002.8
630.5
372.3
387.8
145.7
242.1
97.3
3,547.3
1,003.3
610.4'
48.1'
562.3
462.9
99.4
392.8'
204.3'
188.5
35.4
153.1
2,544.0
489.0'
1,310.6
297.8'
1,012.7
637.7
375.0
385.1
145.2
239.9
94.9
3,572.2
1,036.8
621.8'
54.7'
567.1
466.2
100.8
415.0'
216.2'
198.8
36.4
162.4
2,535.4
492.6'
1,304.9
300.5'
1,004.4'
625.4'
379.0
379.2
142.6
236.7
93.6
59.5
20.8
15.7
9.3
68.6
21.7
16.9
9.5
74.7
21.0
16.7
9.2
75.3
22.1
16.8
9.1
80.2
14.8
16.9
9.1
78.7
14.9
16.9
9.1
90.3
15.8
16.8
9.1
80.0
15.1
17.0
9.2
93.0
15.4
16.8
9.2
81.8
15.7
17.0
9.2
74.6
14.7
17.0
9.2
72.7
14.5
17.2
9.2
22.3
118.1'
93.5
260.7
27.5
127.1'
96.0
163.8
27.3
123.8'
95.2
166.8
28.1
118.9'
94.4
157.2
22.1
122.6'
93.8
176.7
20.6
125.8'
92.6
167.2
26.2
129.8'
92.4
147.6
21.2
126.7
92.6
134.7
20.1
132.1
92.7
132.9
17.4
122.0
92.7
129.1
20.4
126.0
92.6
139.6
21.4
126.7
92.5
134.6
144.2
116.6
148.0
439.0
104.6
59.3
167.4
453.4
103.7
63.1
156.2
451.5
92.4
64.8
164.0
465.9
11 1.2
65.5
155.9
458.1
100.5
66.7
159.4
446.1
81.2
66.4
160.9'
448.4'
66.9
67.7
145.3
448.1
63.5
69.4
167.9
441.2
61.1
68.0
139.6
447.0
72.4
67.1
137.7
451.6
67.7
66.9
136.2
452.0
4,128.8'
4,247.4
4,271.0
4,292.7
4,303.2
4,310.4
4,314.2'
4,296.7
4,310.4
4,266.5
4,290.2
4,294.3
2,364.4
307.8
2,056.5
300.4
1,756.2
775.3
225.1
550.2
215.5
306.9
2,464.8'
324.0'
2,140.8'
331.5'
1,809.3'
714.5
159.2
555.3
257.8
319.2
2,478.2'
318.6'
2,159.7'
343.9'
1,815.8'
733.1
163.4
569.7
245.3
323.3
2,490.4'
330.2
2,160.2'
341.7'
1,818.5'
746.8
154.4
592.5
241.3
321.2
2,507.0'
319.1
2,188.0'
346.5'
1,841.5'
756.5
167.0
589.5
224.3
326.5
2,489.9'
311.0
2,179.0'
349.9'
1,829.0'
760.9
152.9
608.0
247.9
324.7
2,513.3'
324.5
2,188.9'
353.4'
1,835.4'
764.5
149.6
614.9
225.3'
322.4'
2,519.8
301.6
2,218.2
359.2
1,859.0
743.8
133.5
610.3
229.5
314.4
2,569.1
305.3
2,263.8
368.0
1,895.7
736.2
125.8
610.4
199.4
319.8
2,512.1
283.7
2,228.4
352.9
1,875.5
735.9
127.4
608.6
220.0
312.0
2,506.4
317.5
2,188.9
359.6
1,829.3
749.8
137.5
612.2
228.8
314.2
2,489.4
318.3
2,171.1
357.1
1,814.0
749.6
140.6
609.0
252.4
312.6
3,662.1
3,756.3'
3,780.0'
3,799.7'
3,814.3'
3,823.4'
3,825.5'
3,807.5
3,824.4
3,780.2
3,799.2
3,803.9
466.7
491.0'
491.0'
493.0'
488.9'
487.0'
488.7'
489.2
486.0
486.4
490.9
490.4
3 591.8
1,019.8
593.6
51.4
542.2
442.2
100.0
426.2
222.9
203.3
36.4
166.9
2,572.0
495.2'
1 319 1
301.1'
1,018.0'
635.2'
382.8
377.4'
143.9'
233.5
106.1
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
D. Small domestically chartered commercial banks
19
Assets and Liabilities'—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
July
2005
2005
2004
Jan.
Feb.
Mar.
Apr.'
May'
June'
July
July 6
July 13
July 20
July 27
Seasonal! { adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit1 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets"
16 Total assets7
17
18
19
20
21
"^
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)8
2,623.0'
715.9'
507.7
208.2'
1.907.1'
308.0'
1,189.1'
101.2
1,087.9'
304.2
6.8
99.0
73.6
115.8
149.1
2,722.5
715.6
497.4
218.2
2,007.0
329.5'
1,253.6'
115.3
1,138.3'
312.7
8.0
103.2
79.8
112.3
174.5
2,755.5
719.8
500.0
219.8
2,035.7
331.7'
1,283.8'
115.9
1,167.9'
309.5
8.0
102.7
80.0
114.2
177.8
2,813.8
721.9
498.7
->->1 ->
2,091.9
336.0'
1,327.3'
118.9
1,208.4'
318.8
7.9
102.0
75.7
115.1
184.1
2,842.5
724.4
499.8
^4 5
2,118.2
339.5
1,345.0
121.4
1,223.6
322.9
8.3
102.5
70.4
111.7
187.7
2,864.7
723.3
500.7
->->-> 7
2,141.4
342.8
1,364.5
124.0
1,240.5
322.7
8.3
103.1
73.2
112.8
196.2
2,888.8
716.2
496.0
->->Q ->
2,172.6
345.3
1,387.6
127.0
1,260.5
327.5
8.3
103.8
69.9
111.4
205.8
2,906.2
711.8
493.2
218.6
2,194.5
350.9
1,401.8
128.8
1,273.0
329.1
8.4
104.3
70.1
111.9
200.3
2,898.4
711.2
492.2
219.0
2,187.2
348.0
1,399.9
128.0
1,271.9
328.4
7.8
103.1
61.1
113.6
205.8
2,900.6
711.7
492.6
219.1
2,188.9
349.2
1,401.0
128.2
1,272.8
326.6
8.2
103.9
67.1
111.5
203.4
2,909.0
712.9
494.2
218.7
2,196.1
351.5
1,402.2
129.0
1,273.3
329.2
8.6
104.6
73.1
109.8
195.8
2,909.5
711.3
493.7
217.6
2,198.2
353.3
1,399.3
129.4
1,269.9
331.4
8.9
105.3
76.9
113.3
196.2
2,929.3'
3,056.7
3,095.1
3,155.8
3,179.3
3,213.5
3,242.1
3,254.4
3,245.0
3,248.7
3,253.6
3,261.5
2,235.4
336.5
1,898.9
329.8
1,569.0
487 ^
192.4
294.8
14.1
74.0
2,340.4
336.5
2,003.8
362.7
1,641.1
483 4
160.3
323.1
11.6
73.0
2,365.0
341 3
2,023.6
369.9
1,653.7
494.6
166.3
328.4
8.7
69.2
2,390.7'
355 0
2,035.7
379.2
1,656.5
495.0
166.8
328.1
5.8
72.9
2,405.2
347 ^
2,058.0
385.1
1,672.9
499.0
167.7
331.3
5.5
72.4
2,413.3
348 ^
2,065.1
388.5
1,676.5
513.8
170.4
343.4
10.6
73.5
2,426.0
354 7
2,071.3
393.0
1,678.3
509.3
166.3
343.1
9.7
75.9
2,457.3
345 ^
2,112.2
402.0
1,710.1
503.8
161.8
342.1
12.9
73.3
2,443.7
334.4
2,109.3
398.1
1,711.2
501.6
167.1
334.5
10.6
73.2
2,453.7
334.6
2,119.1
402.8
1,716.3
500.1
159.0
341.1
14.0
73.1
2,456.4
350.0
2,106.3
402.1
1,704.2
506.7
161.8
344.9
11.9
73.3
2,466.4
367.0
2,099.4
402.8
1,696.6
507.8
161.0
346.8
14.5
73.4
2,810.7
2,908.4
2,937.5
2,964.3
2,982.1
3,011.2
3,020.9
3,047.3
3,029.1
3,040.9
3,048.2
3,062.1
118.7'
148.3
157.6
191.5
197.2
202.2
221.2
207.1
215.9
207.8
205.4
199.4
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets"
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)8
Footnotes appear on p. 21.
2,613.6'
713.7'
505.5
208.2'
1,899.9
308.1'
1,184.4'
101.3
1,083.1'
443.0'
640.0'
300 ^
153.2
147.0
6.8
100.4
71.2
115.9
149.1
2,726.9
715.7
497.5
218.2
2,011.3
328.8'
1,254.4'
114.9
1,139.5'
444.3'
695.2'
319 ^
162.0
157.3
7.7
101.1
76.5
113.4
174.5
2,752.1
717.6
497.9
219.8
2,034.5
331.6'
1,283.2'
115.6
1,167.5'
461.6'
706.0'
3114
153.3
158.1
8.0
100.3
80.2
1 12.2
177.8
2,803.0'
723.3
500.1
2,079.7'
336.6'
1,320.0'
118.2
1,201.8'
479.1'
722.7'
3144
157.0
157.4
8.1
100.5
79.7
110.4
184.1
2,830.7
726.6
502.1
^4 5
2,104.1
341.0
1,335.7
121.0
1,214.7
484.1
730.6
317 8
159.1
158.7
8.3
101.3
73.9
108.9
187.7
2,858.0
722.9
500.3
->->-> 7
2,135.0
345.1
1,359.8
124.0
1,235.8
497.2
738.5
319.6
159.9
159.7
8.2
102.5
71.0
111.8
196.2
2,878.0
716.2
496.0
->->Q ->
2,161.7
347.2
1,378.8
127.3
1,251.5
504.7
746.8
3^ 9
161.8
161.1
8.3
104.5
68.6
110.8
205.8
2,896.3
709.7
491.1
218.6
2,186.6
351.1
1,396.4
129.0
1,267.4
512.8
754.6
3^5 1
163.3
161.8
8.4
105.7
67.8
111.9
200.3
2,889.9
710.1
491.1
219.0
2,179.8
350.7
1,392.5
128.5
1,264.0
513.6
750.4
3^3 4
162.5
160.9
8.1
105.1
63.0
121.9
205.8
2,891.0
710.0
490.9
219.1
2,181.0
350.1
1,395.4
128.5
1,266.8
514.0
752.8
3^ 1
160.7
161.4
8.2
105.2
65.5
110.1
203.4
2,896.6
709.8
491.1
218.7
2,186.9
351.1
1,396.0
128.8
1,267.2
511.8
755.4
3^5 5
163.7
161.8
8.5
105.8
69.0
107.2
195.8
2,899.5
709.3
491.7
217.6
2,190.2
352.0
1,395.3
129.5
1,265.8
508.6
757.2
328.2
165.7
162.5
8.6
106.1
70.1
109.3
196.2
2,917.7'
3,058.9
3,090.0
3,144.3
3,168.2
3,203.6
3,229.5
3,242.2
3,246.8
3,236.1
3,234.5
3,240.7
2,229.1
336 3
1,892.8
329.8
1,562.9
487 ^
192.4
294.8
14.1
74.0
2,335.3
340 4
1,995.0
362.7
1,632.3
483 4
160.3
323.1
11.6
73.0
2,354.7
336.8
2,017.9
369.9
1,648.0
494.6
166.3
328.4
8.7
69.2
2,388.9
350.7
2,038.2
379.2
1,659.1'
495.0
166.8
328.1
5.8
72.9
2,409.5
348.0
2,061.6
385.1
1,676.5
499.0
167.7
331.3
5.5
72.4
2,408.7
343.9
2,064.8
388.5
1,676.2
513.8
170.4
343.4
10.6
73.5
2,425.0
350.4
2,074.5
393.0
1,681.5
509.3
166.3
343.1
9.7
75.9
2,450.4
344.9
2,105.5
402.0
1,703.4
503.8
161.8
342.1
12.9
73.3
2,460.0
342.6
2,117.4
398.1
1,719.3
501.6
167.1
334.5
10.6
73.2
2,447.4
332.7
2,114.6
402.8
1,711.9
500.1
159.0
341.1
14.0
73.1
2,440.9
346.5
2,094.5
402.1
1,692.4
506.7
161.8
344.9
11.9
73.3
2,442.2
362.4
2,079.8
402.8
1,677.1
507.8
161.0
346.8
14.5
73.4
2,804.3
2,903.4
2,927.3
2,962.6'
2,986.4
3,006.7
3,019.9
3,040.4
3,045.5
3,034.6
3,032.8
3,037.9
113.3'
155.5
162.8
181.8
181.8
196.9
209.6
201.8
201.3
201.5
201.7
202.8
20
Federal Reserve Bulletin Statistical Supplement • August 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES
E. Foreign-related institutions
Assets and Liabilities'—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
July
2005
2005
2004
Jan.
Feb.
Mar.
Apr.
May
June
July
July 6
July 13
July 20
July 27
Seasonal! { adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Other securities
5
Loans and leases in bank credit1 . . . .
6
Commercial and industrial
7
Real estate
8
Security4
9
Other loans and leases
10 Interbank loans
1 1 Cash assets5
12 Other assets"
650.0'
260.2'
91.5
168.8'
389.8
132.3'
17.4
151.4
88.7'
38.0
63.0
38.8
673.4
307.4
87.6
219.8
366.0
143.7
19.1
101.7
101.5
45.3
66.8
31.1
697.5
315.6
97.1
218.6
381.8
145.5
18.9
113.6
103.8
41.7
64.1
31.2
704.9
317.1
94.8'
13 Total assets7
789.4r
816.3
549.9
11.5
538.4
331.5
41.0
290.5
-183.7
86.5
14
15
16
17
18
19
20
21
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
22 Total liabilities
23 Residual (assets less liabilities)8
387.8
145.2
19.0
120.5
103.2
43.0
65.0
33.2
704.7'
310.2'
86.1'
T^4 o'
394.5
150.7
19.2
119.0
105.6'
45.0
64.1
34.1
722.2
314.4
88.2
^6 ^
407.8
155.0
18.2
129.5
105.2
47.9
64.2
35.6
730.9'
319.2'
88.8
^30 4'
411.7
154.5
18.2
133.1
105.9
49.1
64.4'
37.8
743.2
326.8
87.5
239.3
416.4
161.8
16.5
126.8
111.3
50.4
65.8
37.3
732.0
325.7
88.8
236.9
406.4
158.1
16.5
124.7
107.0
48.9
63.9
37.2
743.1
328.1
89.5
238.6
415.0
160.8
16.5
129.6
108.1
49.0
65.4
39.0
743.1
327.9
88.6
239.3
415.2
161.7
16.4
122.6
114.5
53.2
66.2
34.5
747.9
323.5
84.4
239.1
424.4
164.7
16.5
129.1
114.2
45.8
65.4
36.6
834.0
845.7
847.5'
869.5
881.7
896.4
881.6
896.1
896.5
895.2
564.6
11.8
552.8
349.5
40.1
309.3
-198.1
92.1
553.3
13.2
540.2
362.7
44.1
318.6
-185.8
96.1
561.0
14.5
546.5
367.5
43.8
323.6
-181.3
91.5
589.0
14.3
574.6
360.7
44.3
316.4
-203.2'
93.4
587.4
14.2
573.2
366.5
39.8
326.7
-192.6
93.0
601.8'
14.1
587.7'
358.5'
44.8
313.7
-183.4'
97.9'
582.2
14.5
567.7
364.5
41.1
323.4
-147.0
93.9
573.4
13.9
559.4
354.1
38.0
316.0
-137.7
94.3
571.8
13.6
558.1
362.1
40.4
321.7
-140.2
98.9
585.3
14.8
570.5
356.9
39.7
317.2
-141.9
94.4
589.7
15.3
574.4
370.4
40.7
329.6
-164.1
88.3
784.2
808.1
826.4
838.7
839.8
854.4
874.7
893.6
884.1
892.6
894.6
884.2
5.2'
8.2
7.7
7.1
7.7
15.1
7.0
2.9
-2.5
3.4
1.9
11.0
Not seasonally adjusted
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Trading account
Investment account
Other securities
Trading account
Investment account
Loans and leases in bank credit1 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets"
40 Total assets7
41
42
43
44
45
46
47
48
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
49 Total liabilities
50 Residual (assets less liabilities)8
Footnotes appear on p. 21.
646.2'
260.2'
91.5
33.7
57.8
168.8'
103.8
65.0'
386.0
131.5'
17.4
147.3
89.7'
38.0
62.4
37.6
675.9
307.4
87.6
30.5
57.0
219.8
115.4
104.4
368.4
144.3
19.1
104.7
100.4
45.3
66.3
33.2
699.2
315.6
97.1
38.3
58.8
218.6
116.5
102.1
383.5
147.3
18.9
115.7
101.6
41.7
63.2
32.9
708.1
317.1
94.8'
38.8
56.0
783.8r
820.3
548.4
11.5
537.0
331.5
41.0
290.5
-185.2
85.4
780.0
3.7'
124.2
98.1'
391.0
147.2
19.0
121.9
102.9
43.0
62.9
33.2
710.1'
310.2'
86.1'
30.9
55.3'
T^4 o'
127.8'
96.2'
399.9'
151.8'
19.2
122.2
106.8'
45.0
63.5
32.8
719.6
314.4
88.2
31.0
57.2
^6 ^
130.6
95.6
405.3
155.0
18.2
126.3
105.8
47.9
63.6
36.2
731.0'
319.2'
88.8
29.6
59.1
^30 4'
133.5
96.9'
411.8
154.0
18.2
132.1
107.5
49.1
63.9'
37.8
740.2
326.8
87.5
27.3
60.2
239.3
134.1
105.2
413.4
160.9
16.5
123.4
112.5
50.4
65.2
36.2
729.0
325.7
88.8
28.5
60.3
236.9
134.0
102.9
403.4
157.5
16.5
120.1
109.3
48.9
63.4
35.7
739.9
328.1
89.5
29.0
60.5
238.6
134.9
103.7
411.8
159.9
16.5
125.8
109.6
49.0
64.4
38.1
741.4
327.9
88.6
29.1
59.5
239.3
133.3
105.9
413.6
161.2
16.4
120.3
115.8
53.2
65.2
33.3
742.8
323.5
84.4
24.7
59.7
239.1
133.1
106.0
419.4
163.3
16.5
125.2
114.4
45.8
64.6
35.5
836.6
846.8
851.0'
866.9
881.4
891.6
876.7
891.0
892.7
888.4
571.9
12.1
559.8
349.5
40.1
309.3
-197.3
92.6
560.6
13.2
547.4
362.7
44.1
318.6
-186.1
95.8
566.5
14.0
552.5
367.5
43.8
323.6
-182.0
91.1
600.7
14.0
586.7
360.7
44.3
316.4
-205.7
91.5
600.7
13.9
586.8
366.5
39.8
326.7
-194.8
91.5
610.4'
14.0'
596.4'
358.5'
44.8
313.7
-186.3'
95.9
580.6
14.5
566.2
364.5
41.1
323.4
-149.0
92.7
570.2
14.4
555.8
354.1
38.0
316.0
-142.1
91.7
570.6
13.5
557.1
362.1
40.4
321.7
-142.2
97.6
583.9
14.6
569.4
356.9
39.7
317.2
-144.1
93.1
590.2
15.1
575.1
370.4
40.7
329.6
-163.6
88.6
816.8
833.0
843.1
847.3'
864.1
878.5
888.8
873.9
888.2
889.8
885.5
3.6
3.6
3.7
2.9
2.9
2.9
2.9
2.9
2.9
2.9
3.7
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
F. Memo items
21
Assets and Liabilities'—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
2004
July
2005
2005
Jan.
Feb.
Mar.
Apr.
May
June
July
July 6
July 13
July 20
July 27
Not seasonally adjusted
MEMO
1
2
3
4
5
6
7
8
9
10
Large domestically chartered banks,
adjusted for mergers
Revaluation gains on off-balance-sheet
items9
Revaluation losses on off-balancesheet items9
Mortgage-backed securities10
Pass-through
CMO, REMIC, and other
Net unrealized gains (losses) on
available-for-sale securities"
Securitized consumer loans12
Credit cards and related plans
Other
Securitized business loans12
Small domestically chartered
commercial banks, adjusted for
mergers
1 1 Mortgage-backed securities10
12 Securitized consumer loans12
13 Credit cards and related plans
14 Other
Foreign-related institutions
15 Revaluation gains on off-balancesheet items9
16 Revaluation losses on off-balancesheet items9
17 Securitized business loans12
105.6
93.1
89.3
88.4
89.3
90.8
93.2
86.5
91.2
87.4
86.7
82.7
95.0
491.6'
380.8
110.8'
83.7
529.0'
410.7
118.4'
78.8
541.6'
419.5
122.2'
78.8
544.7'
422.7
122.0'
80.3
546.4'
427.0
119.5'
82.7
556.9'
433.8
123.2'
85.3
535.9'
41 1.3
124.6'
76.9
544.3
418.8
125.5
81.8
545.4
419.4
126.0
78.1
538.5
412.7
125.8
77.0
545.4
420.1
125.3
72.5
545.7
421.7
124.0
-3.9
150.8
130.7
20.0
7.2
3.9
158.6
136.6
22.0
6.4
1.5
155.8
134.3
21.6
6.4
-2.6
148.8
127.7
21.0
6.4
-3.6
147.6
127.0
20.6
6.2
.7
149.7
129.5
20.1
6.1
1.9
151.8
129.2
22.6
6.1
-.2
152.6
129.5
23.1
5.9
1.4
153.8
130.4
23.5
6.1
.1
153.3
130.0
23.3
6.1
.2
151.8
128.9
22.9
5.7
-.9
151.6
128.8
22.8
5.7
325.6'
215.1
207.8
7.3
335.6'
338.7'
201.2
10.0'
344.0'
^13 9'
203.9
10.0'
343.8'
^13 4'
203.5
9.9'
343.8'
-> p -y
202.4
9.9'
340.4'
214.9
10.0'
203.1
9.9'
337.4
T p ->
202.3
9.8
337.7
^13 4
203.6
9.8
337.4
214.7
204.9
9.8
338.0
21 1.3
201.4
9.9
336.6
210.5
200.6
9.9
58.5
54.5
53.7
52.4
52.4'
53.3
54.6
55.0
56.1
55.4
55.0
54.0
60.6
.3
61.9
64.8
.2
63.0
.2
62.6
61.9
.2
63.5
62.5
64.3
.2
63.3
62.7
61.1
.2
NOTE. Tables 1.26, 1.27, and 1.28 have been revised to reflect changes in the Board's H.8
statistical release, "Assets and Liabilities of Commercial Banks in the United States," which
is available at www.federalreserve.gov/releases. 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 Statistical
Supplement. 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 mergeradjusted 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.
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-re la ted
institutions). Excludes international banking facilities. Data are Wednesday values or pro rata
averages of Wednesday values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on weekly samples and on
quarter-end condition reports. Data are adjusted for breaks caused by reclassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. 17-19 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.
-> p 91
2
2
2
2
2. Treasury securities are liabilities of the U.S. Treasury. Agency securities are liabilities of
U.S. government agencies and U.S. government-sponsored enterprises.
3. 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."
4. Consists of reverse RPs with brokers and dealers and loans to purchase and cany
securities.
5. Includes vault cash, cash items in process of collection, balances due from depository
institutions, and balances due from Federal Reserve Banks.
6. Excludes the due-from position with related foreign offices, which is included in "Net
due to related foreign offices."
7. Excludes unearned income, reserves for losses on loans and leases, and reserves for
transfer risk. Loans are reported gross of these items.
8. This balancing item is not intended as a measure of equity capital for use in capital
adequacy analysis. On a seasonally adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total liabilities.
9. Fair value of derivative contracts (interest rate, foreign exchange rate, other commodity
and equity contracts) in a gain/loss position, as determined under FASB Interpretation No. 39.
The fair market value of derivative contracts in a gain position is included in "Other
securities, trading account." The fair value of derivative contracts in a loss position is
included in "Other liabilities."
10. Includes mortgage-backed securities issued by U.S. government agencies, U.S.
government-sponsored enterprises, and private entities.
1 1. Difference between fair value and historical cost for securities classified as availablefor-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.
12. Total amount outstanding.
22
Federal Reserve Bulletin Statistical Supplement • August 2005
1.32
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2004
2005
Item
2000
2001
2002
2003
2004
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
1 All issuers
1,619,274
1,458,870
1,347,997
1,265,351
1,387,807
1,375,074
1,387,807
1,411,471
1,440,644
1,435,879
1,490,359
2 Financial companies'
3 Nonfinancial companies2
1,275,841
343,433
1,234,023
224,847
1,193,950
154,047
1,160,317
105,034
1,268,158
119,649
1,244,571
130,503
1,268,158
119,649
1,274,507
136,964
1,300,161
140,483
1,302,219
133,660
1,344,817
145,543
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.
1.33
PRIME RATE CHARGED BY BANKS
2. Includes public utilities and firms engaged primarily in such activities as communications, construction, manufacturing, mining, wholesale and retail trade, transportation, and
services.
Short-Term Business Loans1
Percent per year
Date of change
2001—Jan.
Feb
Mar.
Apr
May
June
Aug.
Sept.
Oct.
Nov.
Dec.
Rate
4
1
21
19
16
^8
22
18
3
7
12
9.00
8 50
8.00
7 50
7.00
6 75
6.50
6.00
5.50
5.00
4.75
2002—Nov. 7
4.25
2003—June 27
4.00
2004—June
Aug.
Sept.
Nov.
Dec.
30
10
21
10
14
4.25
4.50
4.75
5.00
5.25
2005—Feb.
Mar.
May
June
2
22
3
30
5.50
5.75
6.00
6.25
Period
Average
rate
2001
^00^
2003
^004
6.91
4.67
4.12
4.34
^00^—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.35
4.25
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
Period
2003—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
4.25
4.25
4.25
4.25
4.25
4.22
4.00
4.00
4.00
4.00
4.00
4.00
Period
Average
rate
2004—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.00
4.00
4.00
4.00
4.00
4.01
4.25
4.43
4.58
4.75
4.93
5.15
2005—Jan
Feb
Mar
Apr
May
June
5.25
5.49
5.58
5.75
5.98
6.01
Report. Data in this table also appear in the Board's H.15 (519) weekly statistical release,
available on the Board's website, www.federalreserve.gov/releases.
Financial Markets
1.35
INTEREST RATES
23
Money and Capital Markets
Percent per year; figures are averages of business day data unless otherwise noted
2005
Item
2002
2003
2005, week ending
2004
Feb.
Mar.
Apr.
May
Apr. 29
May 6
May 13
May 20
May 27
MONEY MARKET INSTRUMENTS
1 Federal funds12'1
2 Discount window primary credit2'4
1.67
n.a.
1.13
n.a.
1.35
2.34
2.50
3.49
2.63
3.58
2.79
3.75
3.00
3.98
2.74
3.75
2.96
3.82
2.99
4.00
3.01
4.00
3.01
4.00
5fi
3
4
5
Commercial paper^
Nonfinancial
1-month
''-month
3-month
1.67
1.67
1.69
1.11
1.11
1.11
1.38
1.40
1.41
2.49
2.56
n.a.
2.67
2.74
2.82
2.84
2.92
2.97
2.97
3.04
3.09
2.93
2.96
n.a.
2.97
2.99
3.05
2.97
n.a.
n.a.
2.98
3.04
3.10
2.98
3.05
3.13
6
7
8
Financial
1-month
2-month
3-month
1.68
1.69
1.70
1.12
1.13
1.13
1.41
1.46
1.52
2.52
2.61
2.71
2.71
2.81
2.91
2.87
2.96
3.02
3.00
3.08
3.15
2.97
3.00
3.08
3.00
3.03
3.1 1
3.00
3.07
3.14
3.00
3.08
3.16
3.00
3.11
3.19
Certificates of deposit, secondary market'^
1-month
3-month
6-month
1.72
1.73
1.81
1.15
1.15
1.17
1.45
1.57
1.74
2.57
2.77
3.00
2.77
2.97
3.23
2.94
3.09
3.34
3.05
3.22
3.44
3.03
3.14
3.36
3.05
3.17
3.39
3.05
3.20
3.44
3.04
3.22
3.44
3.05
3.25
3.47
12 Eurodollar deposits. 3-monthlS
1.73
1.14
1.55
2.75
2.95
3.08
3.20
3.13
3.15
3.19
3.21
3.24
U.S. Treasury bills
Secondary market1'5
13 4-week
14 3-month
15
6-month
1.60
1.61
1.68
1.00
1.01
1.05
1.24
1.37
1.58
2.32
2.54
2.77
2.60
2.74
3.00
2.59
2.78
3.05
2.59
2.84
3.08
2.61
2.85
3.08
2.58
2.82
3.09
2.52
2.82
3.09
2.53
2.82
3.07
2.71
2.89
3.07
2.00
2.64
3.10
3.82
4.30
4.61
5.43
1.24
1.65
2.10
2.97
3.52
4.01
4.96
1.89
2.38
2.78
3.43
3.87
4.27
5.04
3.03
3.38
3.54
3.77
3.97
4.17
4.61
3.30
3.73
3.91
4.17
4.33
4.50
4.89
3.32
3.65
3.79
4.00
4.16
4.34
4.75
3.33
3.64
3.72
3.85
3.94
4.14
4.56
3.33
3.64
3.73
3.91
4.05
4.24
4.64
3.33
3.65
3.72
3.88
4.03
4.22
4.64
3.35
3.68
3.77
3.91
4.02
4.21
4.62
3.32
3.62
3.72
3.83
3.87
4.11
4.53
3.32
3.63
3.71
3.81
3.86
4.07
4.47
4.87
5.64
5.04
4.52
5.20
4.75
4.50
5.09
4.68
4.16
4.71
4.35
4.29
4.87
4.57
4.18
4.80
4.46
4.20
4.86
4.31
4.10
4.72
4.37
4.10
4.76
4.38
4.23
4.89
4.35
4.21
4.87
4.25
4.26
4.92
4.24
7.10
6.24
6.00
5.49
5.71
5.60
5.49
5.50
5.55
5.53
5.47
5.43
6.49
6.93
7.18
7.80
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
5.20
5.44
5.51
5.82
5.40
5.65
5.73
6.06
5.33
5.44
5.58
6.05
5.15
5.29
5.49
6.01
5.23
5.33
5.49
5.97
5.25
5.36
5.55
6.02
5.20
5.35
5.54
6.03
5.10
5.27
5.48
6.02
5.08
5.22
5.43
5.98
1.61
1.72
1.66
.80
1.80
2.01
1.99
2.05
2.05
2.04
1.94
.92
9
10
11
U.S. TREASURY NOTES AND BONDS
16
17
18
19
20
^1
22
Constant maturities*
1 -year
^-year
3-year
5-year
7-year
10-year
20-year
STATE AND LOCAL NOTES AND BONDS
Moody's series10
23 Aaa .'
^4 Baa
25 Bond Buyer series"
CORPORATE BONDS
26 Seasoned issues, all industries12
Rating group
^7 Aaa 1 3
28 Aa
^9 A
30 Baa
MEMO
Dividend-price ratio14
31 Common stocks
NOTE. Some of the data in this table also appear in the Board's H.15 (519) weekly
statistical release, available at www.federalreserve.gov/releases.
1. The daily effective federal funds rate is a weighted average of rates on trades through
New York brokers.
2. Weekly figures are averages of seven calendar days, ending on Wednesday of the
current week; monthly figures include each calendar day in the month.
3. Annualized using a 360-day year or bank interest.
4. The rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program, which became effective January 9, 2003.
This rate replaces that for adjustment credit, which was discontinued after January 8, 2003.
For further information, see 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 www.federalreserve.gov/releases/hl5/
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
webpages (www.federalreserve.gov/releases/cp) for more information.
7. An average of dealer offering rates on nationally traded certificates of deposit.
8. Bid rates for Eurodollar deposits collected around 9:30 a.m. Eastern time. Data are for
indication purposes only.
9. Yields on actively traded issues adjusted to constant maturities.
10. General obligation bonds based on Thursday figures; Moody's Investors Service.
1 1. 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.
12. 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.
13. 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.
14. 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.
24
Federal Reserve Bulletin Statistical Supplement • August 2005
1.36
STOCK MARKET
Selected Statistics
2004
Indicator
2002
2003
2005
2004
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Pr ces and trac ng volume (averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50)
5,571.46
656.44
430.63
260.50
554.88
5,456.48
634.11
437.37
238.05
566.74
6,614.10
741.19
521.11
27 1.45
657.07
6,608.98
n.a.
n.a.
n.a.
n.a.
6,933.75
n.a.
n.a.
n.a.
n.a.
7,134.42
n.a.
n.a.
n.a.
n.a.
7,056.84
n.a.
n.a.
n.a.
n.a.
7,241.89
n.a.
n.a.
n.a.
n.a.
7,275.51
n.a.
n.a.
n.a.
n.a.
7,077.97
n.a.
n.a.
n.a.
n.a.
7,094.02
n.a.
n.a.
n.a.
n.a.
7,238.96
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
993.94
965^3
1,130.65
1,118.07
1,168.94
1,199.21
1,181.41
1,199.63
1,194.90
1,164.42
1,178.28
1,202.25
7 American Stock Exchange
(Aug. 31, 1973 = 50) :
860.11
943.44
1,260.02
1,291.67
1,353.08
1,410.28
1,406.85
1,483.76
1,483.97
1,453.79
1,455.72
1,519.42
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
9 American Stock Exchange
1411 689 1 361 043 1 403 376 1 477 745 1 4 ^ 498 1 397 797 1 569 946 1 549 991 1 600 618 1 643 376 1 45^ 615 1 405 330
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Customer financing (millions of dollars, end-of-period balances)
10 Margin credit at broker-dealers
Free credit balances at brokers4
1 1 Margin accounts5
1
134,380
173,220
203,790
185,700
196,990
203,790
203,320
199,480
201,690
194,160
196,270
200,500
95,690
73 340
92,560
84,920
117,850
93,580
110,870
81,610
110,960
85,740
117,850
93,580
115,350
87,260
94,330
77,960
100,200
80,200
97,450
74,720
99,480
72,690
105,550
76,380
Margin requirements (percent of market value and effective date)6
13 Margin stocks
14 Convertible bonds
Mar. 1 1, 1968
June 8, 1968
May 6, 1970
Dec. 6, 1971
Nov. 24, 1972
Jan. 3, 1974
70
50
70
80
60
80
65
50
65
55
50
55
65
50
65
50
50
50
1. In July 1976 a financial group made up of banks and insurance companies was added to
the group of stocks on which the index is based. The index is now based on 400 industrial
stocks (formerly 425), 20 transportation (formerly 15 rail), 40 public utility (formerly 60), and
40 financial.
2. On July 5, 1983, the American Stock Exchange rebased its index, effectively cutting
previous readings in half.
3. Since July 1983, under the revised Regulation T, margin credit at broker-dealers has
included credit extended against stocks, convertible bonds, stocks acquired through the
exercise of subscription rights, corporate bonds, and government securities. Separate reporting of data for margin stocks, convertible bonds, and subscription issues was discontinued in
April 1984.
4. Free credit balances are amounts in accounts with no unfulfilled commitments to
brokers and are subject to withdrawal by customers on demand.
5. Series initiated in June 1984.
6. Margin requirements, stated in regulations adopted by the Board of Governors pursuant
to the Securities Exchange Act of 1934, limit the amount of credit that can be used to
purchase and carry "margin securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are the difference between the
market value (100 percent) and the maximum loan value of collateral as prescribed by the
Board. Regulation T was adopted effective Oct. 15, 1934; Regulation U, effective May 1,
1936; Regulation G, effective Mar. 11, 1968; and Regulation X, effective Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established in Regulation T the
initial margin required for writing options on securities, setting it at 30 percent of the current
market value of the stock underlying the option. On Sept. 30, 1985, the Board changed the
required initial margin, allowing it to be the same as the option maintenance margin required
by the appropriate exchange or self-regulatory organization; such maintenance margin rules
must be approved by the Securities and Exchange Commission.
Federal Finance
1.40
25
FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2003
2004
2005
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
6,487.7
6,697.1
6,810.3
7,023.4
7,156.2
7,298.6
7,403.2
7,620.4
7,801.0
6,460.8
3,710.8
^ 750 0
6,670.1
3,816.3
^ 853 8
6,783.2
3,923.9
^ 859 3
6,998.0
4,044.1
^ 954 5
7,131.1
4,176.7
^ 954 4
7,274.3
4,218.7
3 055 6
7,379.0
4,303.4
3 075 7
7,596.1
4,406.4'
3 189 8'
7,776.9
4,572.4
3 ^04 5
26.9
26.9
.0
27.0
27.0
.0
27.0
27.0
.0
25.4
24.9
.5
25.1
25.1
.0
24.2
24.2
.0
24.2
23.7
.4
24.3
23.9
.4
24.1
24.1
.0
8 Debt subject to statutory limit
6,400.0
6,625.5
6,737.6
6,952.9
7,088.6
7,229.3
7,333.4
7,535.6
7,715.5
9 Public debt securities
6,399.8
6,625.3
6,737.3
3
6,952.6
3
7,088.5
1
7,229.2
1
7,333.2
7,535.5
7,715.4
1
6,400.0
7,384.0
7,384.0
7,384.0
7,384.0
7,384.0
7,384.0
8,184.0
8,184.0
3
Held by public
5 Agency securities
6
Held by public
7
Held by agencies
MEMO
1 1 Statutory debt limit
1. Consists of guaranteed debt of U.S. Treasury and other federal agencies, specified
participation certificates, notes to international lending organizations, and District of Columbia stadium bonds.
1.41
GROSS PUBLIC DEBT OF U.S. TREASURY
SOURCE. U.S. Department of the Treasury, Monthly Statement of the Public Debt of the
United States and Monthly Treasury Statement.
Types and Ownership
Billions of dollars, end of period
Type and holder
1 Total gross public debt
By type
2 Interest-bearing
3
Marketable
4
Bills
5
Notes
6
Bonds
7
Inflation-indexed notes and bonds'
8
Nonmarketable2
9
State and local government series
10
Foreign issues1
11
Government
12
Public
13
Savings bonds and notes
14
Government account series4
15 Non-interest-bearing
16
17
18
19
20
21
22
23
24
25
26
27
28
By holder5
U.S. Treasury and other federal agencies and trust funds . . .
Federal Reserve Banks"
Private investors
Depositoiy institutions
Mutual funds
Insurance companies
State and local treasuries7
Individuals
Savings bonds
Pension funds
Private
State and Local
Foreign and international*
Other miscellaneous investors7'9
Q2
Q3
Q4
Ql
7,578.5
3,959.7
1,003.2
2,157.1
539.5
245.9
3,618.8
160.7
5.9
5.9
.0
191.7
3,230.6
17.6
7,759.9
4,103.7
1,059.1
2,226.6
537.2
266.8
3,656.2
179.0
6.1
6.1
.0
192.2
3,248.9
17.0
5,943.4
6,405.7
6,998.0
7,596.1
5,930.8
2,982.9
811.3
1,413.9
602.7
140.1
2,947.9
146.3
15.4
15.4
6,391.4
3,205.1
888.8
1,580.8
588.7
146.9
3,186.3
153.4
181.5
2,574.8
12.7
184.8
2,806.9
14.3
6,982.0
3,575.1
928.8
1,905.7
564.3
176.2
3,406.9
149.2
9.7
9.7
.0
192.2
3,007.0
16.0
7,578.5
3,959.7
1,003.2
2,157.1
539.5
245.9
3,618.8
160.7
5.9
5.9
.0
191.7
3,230.6
17.6
7,259.1
3,755.4
946.8
2,052.2
556.0
200.4
3,503.7
161.5
6.4
6.4
.0
194.1
15.3
7,364.2
3,846.0
961.5
2,109.5
552.0
223.0
3,518.2
158.2
5.9
5.9
.0
194.1
3,130.0
14.9
2,564.3
551.7
2,819.5
181.5
257.5
105.7
339.4
2,757.8
629.4
3,018.5
222.8
278.8
139.7
351.5
2,955.1
666.7
3,377.9
154.0
279.6
136.5
358.8
3,189.1
717.8
3,667.1
128.1'
253.1'
149.2'
385.8'
3,055.6
687.4
3,531.5
161.6
258.8
143.6
378.1'
3,075.7
700.3
3,607.0
141.0
254.5
146.6
376.8'
3,189.1
717.8
3,667.1
128.1'
253.1'
149.2'
385.8'
3,206.6'
717.3
3,855.4
142.7
261.9
151.5
407.0
190.3
273.1
120.6
152.4
1,051.2
420.9
194.9
278.8
134.7
144.1
1,246.8
323.4
203.8
288.2
140.8
147.4
1,538.1
452.6
204.4
295.7'
151.0'
144.7'
1,942.0
307.8
204.6
299.4
146.0
153.4
1,828.3
251.7
204.1
298.1
150.4
147.7
1,886.2
276.2
204.4
295.7'
151.0'
144.7'
1,942.0
307.8
204.2
298.4
153.4
145.0
2,037.0
n.a.
1. The U.S. Treasury first issued inflation-indexed securities during the first quarter of
1997.
2. Includes (not shown separately) securities issued to the Rural Electrification Administration, depository bonds, retirement plan bonds, and individual retirement bonds.
3. Nonmarketable series denominated in dollars, and series denominated in foreign currency held by foreigners.
4. Held almost entirely by U.S. Treasury and other federal agencies and trust funds.
5. Data for Federal Reserve Banks and U.S. government agencies and trust funds are actual
holdings: data for other groups are Treasury estimates.
6. U.S. Treasury securities bought outright by Federal Reserve Banks, see Bulletin table
1.18.
7. In March 1996, in a redefinition of series, fully defeased debt backed by nonmarketable
federal securities was removed from "Other miscellaneous investors" and added to "State
and local treasuries." The data shown here have been revised accordingly.
3,11 1.7
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 Reseive Board of Governors, Flow
of Funds Accounts of the United States and U.S. Treasury Department, Treasury Bulletin,
unless otherwise noted.
26
Federal Reserve Bulletin Statistical Supplement • August 2005
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2005
Item
By type of security
1 U.S.' Treasury bills
Treasury coupon securities by maturity
2 Three years or less
3
More than three but less than or
equal to six years
4
More than six but less than or equal
to eleven years
5
More than eleven
6
Inflation-protected2
Federal agency and govemmentsponsored enterprises
Discount notes
Coupon securities by maturity
8
Three years or less
9
More than three years but less than
or equal to six years
10
More than six years but less than
or equal to eleven years . . . .
11
More than eleven years
7
1^
Mortgage-backed
Corporate securities
13 One year or less
14 More than one year
15
16
17
18
19
20
21
22
By type of counterparty
With interdealer broker
U.S. Treasury
Federal agency and govemmentsponsored enterprises
Mortgage-backed
Corporate
With other
U.S. Treasury
Federal agency and govemmentsponsored enterprises
Mortgage-backed
Corporate
Feb.
2005, week end
Mar.
Apr.
Mar. 30
Apr. 6
Apr. 13
Apr. 20
Apr. 27
May 4
May 11
May 18
May 25
52,774
61,512
56,628
64,572
65,896
55,195
59,110
50,202
51,538
39,075
46,552
45,421
203,113
190,446
202,529
168,884
194,186
163,691
232,433
214,362
211,972
272,756
195,647
210,527
149,040
149,419
139,265
103,675
136,071
137,685
171,063
120,715
116,483
159,070
159,160
163,985
145,431
37,033
9,870
132,387
32,750
7,828
123,494
29,085
9,081
93,128
22,760
5,684
125,655
29,670
7,040
115,046
25,648
7,275
147,446
31,770
11,000
109,953
26,466
10,750
114,265
36,345
8,706
128,762
33,519
6,341
161,925
26,349
8,837
152,851
29,746
8,704
61,582
56,370
53,326
63,782
51,160
45,410
56,213
55,429
64,976
66,441
67,567
58,165
8,834
9,060
8,140
8,158
7,134
7,945
9,621
7,922
7,482
6,204
6,240
6,313
7,476
6,234
4,295
4,948
3,990
6,003
3,958
3,748
2,840
5,584
3,784
6,072
5,031
655
4,099
377
3,421
551
5,916
368
3,664
290
4,852
246
3,954
568
2,018
1,102
1,532
419
2,501
469
2,839
386
2,828
762
^49 936
^69 687
^
731
^16 7^8
^
110
301 010
^48 86^
^08 6^0
416 514
^47 6^0
^04 909
146,403
21,767
158,935
23,609
148,748
20,678
167,936
21,075
154,588
18,221
138,561
22,224
149,098
21,080
149,681
21,068
159,333
19,749
157,462
19,967
162,920
17,905
153,231
21,979
267,602
249,456
239,768
190,538
244,568
218,040
272,113
230,467
226,875
269,620
247,433
252,757
8,500
66,187
709
7,083
7 1,945
664
6,107
64,409
591
6,630
64,633
603
5,605
66,776
632
6,629
79,666
577
6,820
67,011
556
5,593
48,796
578
5,312
54,056
661
5,891
100,629
513
5,726
61,163
533
6,338
50,311
514
329,658
324,886
320,316
268,165
313,950
286,500
380,711
301,981
312,435
369,902
351,036
358,477
75,078
183,749
167,461
69,057
197,741
181,880
63,626
188,322
168,836
76,542
152,095
188,408
60,634
195,334
172,176
57,826
221,344
160,208
67,495
181,850
169,621
64,626
159,824
170,171
71,936
179,166
178,421
75,309
315,884
176,917
75,090
186,458
180,293
67,801
154,598
174,696
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 website (www.ny.frb.org/markets/primarydealers.html)
under the Primary Dealer heading.
1. The figures represent purchases and sales in the market by the primary U.S. government
securities dealers reporting to the Federal Reserve Bank of New York. Outright transactions
include all U.S. government, federal agency, government-sponsored enterprise, mortgage-
backed, and corporate securities scheduled for immediate and forward delivery, as well as all
U.S. government securities traded on a when-issued basis between the announcement and
issue date. Data do not include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the week.
2. Outright Treasury inflation-protected securities (TIPS) transactions are reported at
principal value, excluding accrued interest, where principal value reflects the original issuance par amount (unadjusted for inflation) times the price times the index ratio.
Federal Finance
1.43
U.S. GOVERNMENT SECURITIES DEALERS
27
Positions and Financing
Millions of dollars
2005, week ending
2005
Item, by type of security
Feb.
Mar.
Apr.
Mar. 30
Apr. 6
Net
1 U.S. Treasury bills
Treasury coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
4
More than six but less than
or equal to eleven years
5
More than eleven
6
Inflation-protected
^
3
Federal agency and govemmentsponsored enterprises
Discount notes
Coupon securities, by maturity
8
Three years or less
9
More than three years but less than
or equal to six years
10
More than six but less than
or equal to eleven years
11
More than eleven
7
12 Mortgage-backed
Corporate securities
13 One year or less
14 More than one year
Apr. 13
Apr. 20
Apr. 27
May 4
May 11
May 18
outright posit ons2
23,229
43,797
18,887
37,457
46,354
42,888
6,963
-6,107
-5,906
-12,098
-8,822
-55 8^7
- 6 ^ 8^4
-53 830
-59 339
-60 047
-56 043
- 5 ^ 476
-47,254
-54,733
-47,824
^3,605
^9,862
^6,922
-51,382
-44,451
-52,076
-48 309
- 5 ^ 080
-53 ^73
-4^ 733
-4^ 359
-16,295
-12,257
-245
-26,255
-12,740
-1,438
-17,943
-8,435
-666
-21,106
-10,451
-1,994
-23,513
-7,899
-1,300
-18,973
-10,016
-2,132
-11,900
-10,762
-200
-17,529
-5,348
-19,465
-7,589
-25,231
-6,453
602
-20
76
-18,438
-4,189
-775
51,004
52,900
51,135
45,990
52,673
52,185
48,092
49,710
56,030
58,305
60,111
19,922
24,530
27,038
26,337
27,493
26,963
26,527
27,551
26,295
29,108
28,311
9,885
9,664
10,525
8,951
8,970
10,852
10,7 11
11,526
10,106
9,541
7,150
1,952
3,291
955
3,508
3,626
3,929
2,239
3,521
2,292
3,495
3,017
3,490
4,120
4,257
4,585
4,227
4,321
4,362
3,746
4,766
3,763
4,850
26,813
25,714
15,260
21,139
16,323
7,661
18,425
18,926
14,922
20,111
18,829
30,253
110,397
30,428
121,569
34,145
128,494
26,161
127,255
31,918
124,456
33,307
129,534
36,395
130,430
32,349
131,048
39,494
123,663
35,299
121,255
31,909
121,134
Financing^
Securities in, U.S. Treasury
15 Overnight and continuing
16 Tenn
Federal agency and govemmentsponsored enterprises
17 Overnight and continuing
18 Tenn
Mortgage-backed securities
19 Overnight and continuing
">0 Tenn
Corporate securities
21 Overnight and continuing
22 Tenn
1 105 330
1,125,747
1 090 859
1,248,604
1 087 ^81
1,083,958
1 090 ^51
1,337,445
1 096 ^51
1,001,392
1 076 534
1,078,304
1 089 301
1,060,996
1 059 354
1,148,462
1,154,865
1,165,349
1,121,774
1,286,790
1,135,687
1,209,548
175,629
199,585
178,226
209,7 11
165,335
204,788
175,760
211,919
179,552
200,119
157,627
207,848
167,746
203,142
159,500
207,897
162,871
203,569
165,492
210,285
175,684
206,354
61,807
377 ^ 3
67,932
375 976
72,003
376 870
66,089
381 885
75,547
359 957
65,532
370 4^6
68,643
378 484
74,270
390 101
82,567
391 094
83,861
391 573
82,648
414,197
111,952
63,870
110,722
66,292
111,921
68,767
107,290
69,899
112,763
68,183
112,462
67,370
11 1,863
68,196
111,286
69,972
110,588
71,718
110,607
71,362
108,075
71,195
730,440
1 501 677
737,563
1 633 990
721,798
1 450 384
740,345
1 740 074
746,394
1 356 ^49
699,667
1 437 841
725,877
1 4 ^ ^90
700,462
1 5^1 473
764,515
1,567,602
752,879
1,665,946
773,655
1,604,881
1,021,186
985,288
981,482
1,134,060
987,909
972,657
959,340
1,244,882
993,421
891,630
981,788
977,506
991,747
949,194
963,746
1,031,550
1,038,593
1,040,724
1,064,820
1,131,211
1,084,958
1,028,532
310,101
132,043
311,203
143,120
302,341
143,598
299,393
141,752
306,107
138,407
296,176
145,525
299,346
142,424
305,047
146,880
309,868
144,562
304,761
146,582
329,583
141,985
456,323
246,544
455,106
253,800
474,600
239,630
452,407
262,849
457,717
236,315
474,204
248,734
468,390
236,855
484,848
239,607
499,864
231,547
487,682
227,325
498,794
239,173
199 001
45,382
^ 670
45,804
^10 775
48,325
^ 10 401
47,535
^08 33^
47,324
^08 8^8
47,119
T 14^47
^08 018
49,056
^18 537
50,785
0
48,604
^09 705
50,543
1,732,904
1,337,200
1,712,859
1,500,857
1,744,745
1,326,124
1,689,625
1,615,888
1,725,088
1,235,272
1,729,268
1,341,071
1,747,038
1,298,332
1,733,904
1,389,319
1,840,115
1,390,348
MEMO
Reverse repurchase agreements
23 Overnight and continuing
">4 Tenn
Securities out, U.S. Treasury
25 Overnight and continuing
26 Tenn
Federal agency and govemmentsponsored enterprises
27 Overnight and continuing
28 Tenn
Mortgage-backed securities
29 Overnight and continuing
30 Tenn
Corporate securities
31 Overnight and continuing
32 Tenn
IV 91 1
49,460
MEMO
Repurchase agreements
33 Overnight and continuing
34 Tenn
NOTE. Major changes in the report form filed by primary dealers included a break in many
series as of the week ending July 4, 2001. Current weekly data may be found at the Federal
Reserve Bank of New York website (www.ny.frb.org/markets/primaiydealers.html) under the
Primary Dealer heading.
1. Data for positions and financing are obtained from reports submitted to the Federal
Reserve Bank of New York by the U.S. government securities dealers on its published list of
primary dealers. Weekly figures are close-of-business Wednesday data. Positions for calendar
days of the report week are assumed to be constant. Monthly averages are based on the
number of calendar days in the month.
1,841,823
1,471,096
1,887,217
1,377,415
2. Net outright positions include all U.S. government, federal agency, governmentsponsored 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-protected securities (TIPS) are reported in actual funds paid or received, except for
pledged securities. TIPS that are issued as pledged securities are reported at par value, which
is the value of the security at original issuance (unadjusted for inflation).
28
1.44
Federal Reserve Bulletin Statistical Supplement • August 2005
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Agency
1 Federal and federally sponsored agencies
2 Federal agencies
3
Defense Department1
4
Export-Import Bank2'1
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service"
8
Tennessee Valley Authority
9
United States Railway Association"
10 Federally sponsored agencies7
1 1 Federal Home Loan Banks
12 Federal Home Loan Mortgage Corporation . .
13 Federal National Mortgage Association
14 Farm Credit Banks8
15 Student Loan Marketing Association9
16 Financing Corporation10
17 Farm Credit Financial Assistance Corporation"
18 Resolution Funding Corporation12
2,121,057
2^51,039
276
6
2,120,781
623,740
565,071
763,500
76,673
48,350
8,170
1,261
29,996
6
Nov.
Dec.
24,170
6
24,267
6
n.a.
25,412
6
24,267
6
n.a.
207
n.a.
207
n.a.
n.a.
270
n.a.
n.a.
n.a.
24,261
n.a.
n.a.
n.a.
24,261
n.a.
n.a.
8,170
1,261
29,996
29,996
29,996
30,811
27,948
27,948
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
16,961
n.a.
10,987
16,961
n.a.
10,987
47,900
949,510
97,266
78,121
8,170
1,261
n.a.
837,220
740,300
961,527
95,639
76,543
8,170
1,261
29,996
24,137
6
n.a.
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
854,815
733,400
Feb.
n.a.
n.a.
26,828
2,351,037
674,841
648,894
851,000
85,088
Jan.
854,815
733,400
949,510
97,266
78,121
8,170
1,261
8,170
1,261
29,996
29,996
MEMO
19 Federal Financing Bank debt13
20
21
22
23
24
39,096
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service"
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association"
Other lending14
25 Fanners Home Administration
26 Rural Electrification Administration
27 Other
n.a.
n.a.
n.a.
n.a.
n.a.
13,876
25,220
n.a.
14,489
22,528
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.
16,127
14,684
10. The Financing Corporation, established in August 1987 to recapitalize the Federal
Savings and Loan Insurance Corporation, undertook its first borrowing in October 1987.
Reform, Recoveiy, and Enforcement Act of 1989, undertook its first borrowing i
1989.
13. The FFB, which began operations in 1974, is authorized to purchase or sell obligations
issued, sold, or guaranteed by other federal agencies. Because FFB incurs debt solely for the
purpose of lending to other agencies, its debt is not included in the main portion of the table to
avoid double counting.
14. Includes FFB purchases of agency assets and guaranteed loans; the latter are loans
guaranteed by numerous agencies, with the amounts guaranteed by any one agency generally
being small. The Farmers Home Administration entry consists exclusively of agency assets,
whereas the Rural Electrification Administration entry consists of both agency assets and
guaranteed loans.
Securities Markets and Corporate Finance
1.45
NEW SECURITY ISSUES
29
State and Local Governments
Millions of dollars
2004
Type of issue or issuer,
or use
•>nm
By type of issue
2 General obligation
By type of issuer
4 State
5 Special district or statutory authority2
By use of proceeds
8 Education
10 Utilities and conservation
12 Industrial aid
2003
NEW SECURITY ISSUES
Oct.
Nov.
Dec.
Jan.
Feb.'
Mar.'
Apr.'
May
363,888
384,311
357,276
31,966'
24,778
32,821
22,560'
31,032
44,738
31,325
35,617
145,323
214,788
144,056
238,204
130,257
227,019
11,856'
20,110
7,117'
17,661
12,825
19,995
9,790
12,770'
14,099
16,934
19,639
25,099
13,081
18,244
13,542
22,074
33,931
259,070
67,121
49,795
253,536
78,962
47,365
233,662
76,249
4,477
22,521
4,967'
912
16,791'
7,074'
3,733'
22,440'
6,647
2,268
16,300'
3,992
1,786
22,600
6,646
5,468
31,843
7,427
2,679
20,637
8,008
1,942
24,750
8,925
242,882
264,697
227,882
20,298'
14,804'
23,082'
11,948'
15,770
21,638
16,591
18,840
57,894
22,093
33,404
n.a.
7,227
73,033
70,394
23,809
10,251
n.a.
22,339
97,736
65,347
20,546
9,419
n.a.
18,994
80,499
4,632
1,550
685
n.a.
2,013
8,818'
3,572
1,325
1,314'
n.a.
2,907
2,859'
7,544
1,895
1,641
n.a.
859
6,888'
3,937'
1,299
444
n.a.
575
2,817
4,948
1,981
438
n.a.
618
4,272
7,493
2,926
1,340
n.a.
2,550
4,808
5,511
1,266
606
n.a.
2,350
3,887
4,606
1,027
900
n.a.
1,870
6,160
SOURCE. Securities Data Company beginning January 1990; Investment Dealer's Digest
before then.
1. Par amounts of long-term issues based on date of sale.
2. Includes school districts.
1.46
2005
2004'
US. Corporations
Millions of dollars
2004
Type of issue, offering,
or issuer
1 All issues'
By type of offering
3 Sold in the United States
^00^
^003
2005
2004
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
1,432,548
1,819,401
2,067,697
214,381
158,646
196,768
167,487
183,455
158,779
223,777
144,987
1,322,113
1,692,260
1,923,094
204,705
146,254
188,189
155,071
177,157
146,154
213,440
139,849
1,235,868
86 ^46
1,579,311
11 ^ 949
1,737,342
185 75^
179,758
^4 948
133,354
P 900
166,052
->-> \-q
142,165
P 906
159,207
17 950
125,762
^0 39^
204,222
9^18
130,985
8 864
MEMO
5 Private placements, domestic
By industry group
6 Nonfmancial
7 Financial
8 Stocks'
By type of offering
9 Pubiic
10 Private placement4
By industry group
1 1 Nonfmancial
18,870
20,701
21,942'
2,146
2,220'
1,703'
677'
830
914
1,673
987
282,484
1,039,629
362,340
1,329,920
259,968
1,663,127
23,136
181,570
17,591
128,663
32,724
155,465
21,858
133,213
15,981
161,176
16,837
129,317
17,775
195,665
128] 138
170,904
185,964
144,603
9,676
12,392
8,579
12,416
6,298
12,625
10,337
5,138
110,435
60,469
127,141
58,823
144,603
n.a.
9,676
n.a.
12,392
n.a.
8,579
n.a.
12,416
n.a.
6,298
n.a.
12,625
n.a.
10,337
n.a.
5,138
n.a.
62,115
48 3^0
44,389
8^ 75^
64,162
80,441
3,423
6,253
4,209
8,183
4,757
3,822
6,676
5,740
2,071
4,227
7,964
4,661
3,129
7,208
2,595
2,543
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 closedend, 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.
30
Federal Reserve Bulletin Statistical Supplement • August 2005
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets'
Millions of dollars
2004
Item
2003
2005
2004'
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May1
June
1 Sales of own shares 2
1,710,931
1,659,373
144,989
162,418
161,730
149,629
165,785
144,492
136,078
134,943
2 Redemptions of own shares
1,495,077
^ 15 854
1,449,561
^09 8 P
117,437
149,425
P 993
141,844
19 886
120,461
^9 168
148,026
17 759
132,057
P 435
119,075
17 003
122,673
P ^70
5,362,397
6,193,664
6,003,264
6,193,664
6,107,862
6,251,261
6,169,231
6,076,485
6,264,465
6,350,829
258,594
5,103,803
304,816
5,888,848
328,693
5,674,571
304,816
5,888,848
317,491
5,790,371
354,861
5,896,400
328,885
5,840,346
315,830
5,760,655
318,691
5,945,774
315,528
6,035,301
4 Assets
4
5 Cash5
6 Other
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51 DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE. Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2005
2004
2003
Q3
Q4
Ql
Q2
Q3
Q4
Ql
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
951.2
321.4
455.3
174.5
1,022.2
365.8
457.4
198.9
1,144.0
429.2
471.9
243.0
1,000.0
359.7
445.6
194.7
1,022.2
365.8
457.4
198.9
1,056.2
374.4
475.6
206.2
1,075.4
390.1
47 1.3
213.9
1,097.3
416.5
456.3
224.5
1,144.0
429.2
471.9
243.0
1,149.2
424.2
480.4
244.6
57.0
^3 8
50.8
^4 6
46.2
^4 8
52.0
^4 5
50.8
^4 6
49.6
^4 1
47.3
^4 0
46.5
46.2
46.0
^37
870.3
586.4
946.8
753.9
1,072.9
765.8
923.5
719.3
946.8
753.9
982.5
750.4
1,004.1
732.2
1,026.6
746.7
1,072.9
765.8
1,079.5
749.0
1,456.8
1,700.8
1,838.8
1,642.8
1,700.8
1,732.9
1,736.4
1,773.3
1,838.8
1,828.4
48.0
141 5
56.2
136 3
65.2
163 9
57.6
13^ 9
56.2
136 3
59.8
138 6
52.6
141 4
64.1
154 3
65.2
163 9
63.1
149 ^
88.2
631.9
339.8
^07 3
99.9
747.1
424.7
^36 6
118.2
828.0
415.1
^48 3
95.9
706.6
423.0
^6 8
99.9
747.1
424.7
^36 6
104.9
760.6
435.6
^33 4
108.1
769.1
426.6
^38 5
112.7
776.7
422.6
->£-> 9
118.2
828.0
415.1
^48 3
124.1
801.6
419.7
^70 8
1,456.8
1,700.8
1,838.8
1,642.8
1,700.8
1,732.9
1,736.4
1,838.8
1,828.4
LIABILITIES AND CAPITAL
10 Bank loans
Debt
12 Owed to parent
14 All other liabilities
NOTE. Some of the data presented in the table is available in the Board's monthly G.20
(422) statistical release, which is available at www.federalreserve.gov/releases.
1. Includes finance company subsidiaries of bank holding companies but not of retailers
and banks. Data are amounts carried on the balance sheets of finance companies; securitized
pools are not shown, as they are not on the books.
1,773.3
2. Before deduction for unearned income and losses. Excludes pools of securitized assets.
Securities Markets and Corporate Finance
1.52
DOMESTIC FINANCE COMPANIES
31
Owned and Managed Receivables'
Billions of dollars, amounts outstanding
Type of credit
Apr.
Seasonally adjusted
Consumer . . .
Real estate . .
Business
519.1
210.6
540.9
1,322.9
1,408.4
542.5
229.4
551.0
571.8
268.3
568.3
1,436.7
1,412.9
574.31
268.3
570.3
578.7
261.9
566.3
578.91
269.7
575.9
583.3'
269.2
574.1
579.31
219.4
98.81
580.1
215.7
64.5
43.8
99.7
117.0
119.5
583.7
271.9
581.1
Not seasonally adjusted
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Consumer
Motor vehicle loans
Motor vehicle leases
Revolving1
Other'
Securitized assets4
Motor vehicle loans
Motor vehicle leases
Revolving
Other
Real estate
One- to four-family
Other
Securitized real estate assets4
One- to four-family
Other
Business
Motor vehicles
Retail loans
Wholesale loans5
Leases
Equipment
Loans
Leases
Other business receivables"
Securitized assets4
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables" . .
523.9
160.2
83.3
38.9
38.7
151.9
5.7
31.1
14.0
210.6
135.0
39.5
33.0
543.0
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5
50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.4
1,330.2
1,416.0
547.7
197.0
70.0
37.6
60.9
577.2
230.2
62.5
43.3
1,415.3
577.2
221.6
94.7
577.2
230.2
62.5
43.3
94.7
62.9
43.5
96.3'
578.21
221.0
62.9
45.3
97.3'
109.9
4.8
110.2
4.8
109.9
4.8
116.5
4.7
115.5
4.7
5.5
31.6
12.2
229.4
152.2
46.7
9.5
268.3
190.2
52.7
26.7
3.8
553.1
74.9
18.2
40.3
16.3
21.8
3.5
570.5
91.6
18.4
46.2
27.0
277.6
74.6
264.9
70.6
26.2
262.4
69.7
203.1
105.0
194.3
115.4
192.8
116.9
48.4
44.8
44.2
2.1
22.1
12.5
9.6
25.1
40.6
2.0
23.6
11.5
12.1
30.2
NOTE. This table has been revised to incorporate several changes resulting fror
benchmarking of finance company receivables to the June 1996 Survey of Finance Co
nies. In that benchmark survey, and in the monthly surveys that have followed, more-de
breakdowns have been obtained for some components. In addition, previously unava
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 (consi
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,
available at www.federalreserve.gov/releases.
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 earned on the balance sheets of the loan originator. Data are shown
1,437.8
582.8
231.2
62.4
49.9
92.4
9.6
261.9
188.5
48.6
63.7
43.5
4.6
4.6
23.1
9.2
23.1
9.2
271.9
195.5
52.1
9.4
268.3
191.0
52.3
9.3
269.7
192.3
52.5
21.4
3.5
575.2
96.8
26.1
43.8
26.9
260.0
69.9
190.1
116.4
21.1
3.5
580.9
101.0
30.7
42.8
27.5
194.3
115.4
21.6
3.5
569.8
94.7
22.3
45.4
26.9
261.9
68.9
193.0
115.6
191.3
118.4
20.8
3.5
585.8
103.2
30.7
45.0
27.5
263.0
70.6
192.3
118.4
44.9
44.8
44.4
49.4
48.8
49.0
40.6
2.0
24.0
11.5
12.5
27.0
40.6
2.0
23.6
11.5
12.1
30.2
40.2
2.0
22.9
10.8
12.0
30.2
45.2
2.0
22.1
10.1
12.0
30.4
44.6
2.0
44.8
2.0
22.1
10.5
11.7
30.1
2.7
564.2
89.0
18.8
44.0
190.2
52.7
21.8
3.5
570.5
91.6
18.4
46.2
27.0
264.9
70.6
269.2
192.2
52.4
260.9
69.6
21.6
9.9
11.7
30.2
before deductions for unearned income and losses. Components may not sum to totals
because of rounding.
2. Excludes revolving credit reported as held by depositoiy institutions that are subsidiaries of finance companies.
3. Includes personal cash loans, mobile home loans, and loans to purchase other types of
consumer goods, such as appliances, apparel, boats, and recreation vehicles.
4. Outstanding balances of pools upon which securities have been issued: these balances
are no longer carried on the balance sheets of the loan originator.
5. Credit arising from transactions between manufacturers and dealers—that is. floor plan
financing.
6. Includes loans on commercial accounts receivable, factored commercial accounts, and
receivable dealer capital: small loans used primarily for business or farm purposes: and
wholesale and lease paper for mobile homes, campers, and travel trailers.
32
Federal Reserve Bulletin Statistical Supplement • August 2005
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2005
2004
Item
2002
2003
2004
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Terms and y elds in primary and secondary markets
PRIMARY MARKETS
1
2
3
4
5
Terms'
Purchase price (thousands of dollars)
Amount of loan (thousands of dollars)
Loan-to-price ratio (percent)
Maturity (years)
Fees and charges (percent of loan amount)2
Yield (percent per year)
6 Contract rate1
8 Contract rate (HUD series)4
261.1
197.0
77.8
28.9
.62
272.1
205.3
77.9
28.7
.61
292.0
215.0
76.0
28.8
.51
305.5
227.0
76.6
28.8
.50
303.0
223.1
76.3
29.2
.48
317.1
232.2
75.5
28.9
.48
315.2
231.1
75.6
28.9
.47
307.0
223.8
75.3
29.1
.50
320.8
235.6
75.5
29.1
.51
329.9
238.6
74.4
29.2
.52
6.35
6.44
n.a.
5.71
5.80
n.a.
5.68
5.75
n.a.
5.94
6.02
n.a.
5.95
6.01
n.a.
5.68
5.75
n.a.
5.75
5.82
n.a.
5.77
5.84
n.a.
5.75
5.82
n.a.
5.69
5.76
n.a.
n.a.
5.81
n.a.
5.03
n.a.
5.19
n.a.
5.04
n.a.
4.91
n.a.
4.89
n.a.
5.27
n.a.
5.12
n.a.
4.97
n.a.
4.81
SECONDARY MARKETS
Yield (percent per year)
9 FHA mortgages (section 203)5
10 GNMA securities"
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
794,253
n.a.
n.a.
898,445
n.a.
n.a.
904,555
n.a.
n.a.
904,555
n.a.
n.a.
890,834
n.a.
n.a.
875,245
n.a.
n.a.
864,648
n.a.
n.a.
851,936
n.a.
n.a.
828,079
n.a.
n.a.
808,225
n.a.
n.a.
14 Mortgage transactions purchased (during period)
370,641
572,852
262,646
13,016
11,095
9,446
11,206
8,865
11,198
8,964
Mortgage commitments (during period)
15 Issued7
16 To sell*
400,327
P ^68
522,083
33 010
149,429
8 8^8
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
568,173
4,573
563,600
644,436
n.a.
n.a.
652,936
n.a.
n.a.
652,936
n.a.
n.a.
646,925
n.a.
n.a.
654,182
n.a.
n.a.
656,720
n.a.
n.a.
662,063
n.a.
n.a.
668,137
n.a.
n.a.
665,003
n.a.
n.a.
21 Sales
n.a.
547,046
n.a.
713,260
n.a.
365,148
n.a.
27,953
n.a.
26,135
n.a.
25,081
n.a.
25,912
n.a.
32,043
n.a.
33,654
n.a.
29,917
22 Mortgage commitments contracted (during period)9
620,981
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
13
Conventional
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end of period)*
17 Total
18 FHA/VA insured
19 Conventional
Mortgage transactions (during period)
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing
Finance Board in cooperation with the Federal Deposit Insurance Corporation.
2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the
seller) to obtain a loan.
3. Average effective interest rate on loans closed for purchase of newly built homes,
assuming prepayment at the end of ten years.
4. Average contract rate on new commitments for conventional first mortgages; from U.S.
Department of Housing and Urban Development (HUD). Based on transactions on the first
day of the subsequent month.
5. Average gross yield on thirty-year, minimum-downpayment first mortgages insured by
the Federal Housing Administration (FHA) for immediate delivery in the private secondary
market. Based on transactions on first day of subsequent month.
6. Average net yields to investors on fully modified pass-through securities backed by
mortgages and guaranteed by the Government National Mortgage Association (GNMA),
assuming prepayment in twelve years on pools of thirty-year mortgages insured by the
Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
7. Does not include standby commitments issued but includes standby commitments
converted.
8. Includes participation loans as well as whole loans.
9. Includes conventional and government-underwritten loans. The Federal Home Loan
Mortgage Corporation's mortgage commitments and mortgage transactions include activity
under mortgage securities swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
Real Estate
1.54
33
MORTGAGE DEBT OUTSTANDING1
Millions of dollars, end of period
Type of holder and property
Ql
1 All holders .
2
3
4
5
Q2
Q3
Q4
Ql'
9,866,126
10,236,620
10,532,960
10,774,480
7,484,556
8,312,105
By type of property
One- to four-family residences
Multifamily residences
Nonfami, nonresidential
Farm
5,634,347
447,858
1,284,504
117,847
6,312,876
486,345
1,387,388
125,496
7,111,019
556,194
1,517,232
133,551
7,325,626
562,648
1,554,308
135,284
7,561,904
578,753
1,587,162
138,308
7,872,512
587,699
1,635,899
140,508
8,096,436
599,836
1,694,043
142,644
8,281,561
607,451
1,741,534
143,937
By type of holder
Major financial institutions . .
Commercial banks2
One- to four-family
Multifamily
Nonfami, nonresidential
Farm
Savings institutions1
One- to four-family
Multifamily
Nonfami, nonresidential
Farm
Life insurance companies .
One- to four-family
Multifamily
Nonfami, nonresidential
Farm
.,791,076
,789,819
,023,851
84,851
645,619
35,498
758,236
620,579
64,592
72,534
531
243,021
4,931
35,631
188,376
14,083
3,089,824
2,058,426
1,222,126
94,178
704,097
38,025
781,378
631,392
68,679
80,730
577
250,019
4,657
36,816
195,040
13,506
3,387,865
2,256,037
1,346,908
104,901
763,579
40,649
870,884
703,374
77,994
88,884
632
260,944
4,403
38,556
203,946
14,039
3,518,918
2,329,270
1,394,747
107,440
785,660
41,422
927,658
753,855
81,705
91,449
648
261,990
4,583
38,685
204,643
14,079
3,666,087
2,435,903
1,473,532
110,832
808,610
42,928
966,533
789,486
83,952
92,455
639
263,652
4,603
38,933
205,937
14,179
3,793,873
2,517,411
1,522,198
114,986
836,332
43,894
1,009,323
830,379
85,808
92,508
628
267,139
4,653
39,464
208,743
14,279
3,925,852
2,595,318
1,568,000
119,294
863,467
44,557
1,058,457
875,864
87,526
94,467
598
272,077
4,741
40,192
212,594
14,550
4,032,851
2,689,181
1,633,264
122,797
888,100
45,021
1,069,567
884,765
90,384
93,821
597
274,102
4,777
40,491
214,173
14,661
373,240
8
433,565
5
5
0
72,377
14,908
11,669
42,101
3,700
3,854
1,262
2,592
0
0
537,131
50
50
0
69,546
13,964
11,613
40,529
3,439
4,192
1,304
2,887
0
0
0
0
0
23
4
4
15
0
239,433
219,867
19,566
49,307
2,901
46,406
60,270
27,274
32,996
990
990
543,323
48
48
0
71,271
13,820
11,588
42,476
3,387
4,460
1,315
3,144
0
0
0
0
0
37
6
7
24
0
240,710
220,331
20,379
50,007
2,942
47,065
60,724
27,479
33,245
980
980
543,492
45
45
0
69,681
13,668
11,581
41,172
3,260
4,550
1,324
3,226
0
0
0
0
0
42
7
8
27
0
241,510
218,845
22,665
51,070
3,005
48,065
59,817
27,069
32,748
944
944
547,729
45
45
0
69,935
13,557
11,565
41,520
3,294
4,498
1,328
3,169
0
0
0
0
0
23
4
4
15
0
245,123
222,119
23,004
51,849
3,051
48,798
60,808
27,517
33,291
900
900
549,432
44
44
0
70,624
13,464
11,556
42,370
3,235
4,733
1,338
3,394
0
0
0
0
0
539,357
42
42
0
70,690
13,338
11,537
42,559
3,255
4,733
1,338
3,394
0
0
0
0
0
245,126
234,312
212,322
21,989
53,341
3,139
50,202
61,736
27,937
33,799
865
865
4,540,624
473,738
444,820
28,918
1,157,339
1,141,241
16,098
1,857,045
1,780,884
76,161
0
0
0
0
0
1,051,499
689,751
67,288
294,460
0
1,003
1,003
4,640,793
464,306
438,300
26,007
1,166,862
1,150,632
16,230
1,878,030
1,802,301
75,729
0
0
0
0
0
1,130,629
759,502
69,108
302,019
0
966
966
4,752,457
458,524
427,943
30,581
1,184,976
1,168,494
16,482
1,879,009
1,803,584
75,425
0
0
0
0
0
1,228,981
840,495
70,688
317,798
0
967
967
4,936,014
452,555
421,364
31,191
1,197,412
1,180,757
16,655
1,892,680
1,816,973
75,707
5,053,879
441,350
409,203
32,147
1,204,476
1,187,722
16,754
1,895,761
1,819,931
75,830
0
0
0
0
1,392,403
991,336
7 1,953
329,114
0
964
964
0
0
0
0
1,511,354
1,088,007
75,170
348,177
0
938
938
852,376
621,004
79,159
125,820
26,392
874,832
640,729
79,331
128,036
26,736
904,091
674,014
81,588
121,162
27,325
959,001
722,698
80,885
127,667
27,751
1,003,796
761,285
81,358
132,961
28,192
Federal and related agencies
Government National Mortgage Association
One- to four-family
Multifamily
Fanners Home Administration4
One- to four-family
Multifamily
Nonfami, nonresidential
Fann
Federal Housing Admin, and Dept. of Veterans Affairs . .
One- to four-family
Multifamily
Resolution Trust Corporation
One- to four-family
Multifamily
Nonfami, nonresidential
Fann
Federal Deposit Insurance Corporation
One- to four-family
Multifamily
Nonfami, nonresidential
Fann
Federal National Mortgage Association
One- to four-family
Multifamily
Federal Land Banks
One- to four-family
Fann
Federal Home Loan Mortgage Corporation
One- to four-family
Multifamily
Federal Agricultural Mortgage Corporation
Fann
72,452
15,824
11,712
40,965
3,952
3,290
1,260
2,031
0
0
0
0
0
46
7
9
30
0
185,801
172,230
13,571
46,257
2,722
43,535
63,887
35,851
28,036
966
966
8
0
165,957
155,419
10,538
40,885
2,406
38,479
62,792
40,309
22,483
202
202
55 Mortgage pools or trusts5
56
Government National Mortgage Association
One- to four-family
Multifamily
Federal Home Loan Mortgage Corporation .
One- to four-family
Multifamily
Federal National Mortgage Association
One- to four-family
Multifamily
Fanners Home Administration4
One- to four-family
Multifamily
Nonfami, nonresidential
Farm
Private mortgage conduits
One- to four-family"
Multifamily
Nonfami, nonresidential
Farm
Federal Agricultural Mortgage Corporation .
Farm
,605,189
591,368
569,460
21,908
948,409
940,933
7,476
,290,351
,238,125
52,226
0
4,022,821
537,888
512,098
25,790
1,082,062
1,072,990
9,072
1,538,287
1,478,610
59,677
0
0
0
0
0
773,405
494,658
53,759
224,988
0
1,656
1,656
0
0
864,217
554,181
59,225
250,81 1
0
367
367
77 Individuals and others7 . . .
78
One- to four-family
79
Multifamily
80
Nonfami, nonresidential
81
Fann
715,051
499,098
80,493
112,014
23,446
765,895
549,542
76,953
114,580
24,819
1. Multifamily debt refers to loans on structures of five or more units.
2. Includes loans held by nondeposit trust companies but not loans held by bank trust
departments.
3. Includes savings banks and savings and loan associations.
4. FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from
FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting
changes by the Farmers Home Administration.
5. Outstanding principal balances of mortgage-backed securities insured or guaranteed by
the agency indicated.
23,004
52,793
3,106
49,687
61,360
27,767
33,593
887
887
5,182,942
431,625
399,051
32,574
1,218,978
1,202,023
16,955
1,896,003
1,820,163
75,840
0
0
0
0
0
1,635,454
1,191,443
77,410
366,601
1,019,334
774,345
80,263
136,274
28,453
6. Includes securitized home equity loans.
7. Other holders include mortgage companies, real estate investment trusts, state and local
credit agencies, state and local retirement funds, noninsured pension funds, credit unions, and
finance companies.
SOURCE. Based on data from various institutional and government sources. Separation of
nonfarm mortgage debt by type of property, if not reported directly, and interpolations and
extrapolations, when required for some quarters, are estimated in part by the Federal Reserve.
Line 70 from LoanPerfonnance Corporation and other sources.
34
Federal Reserve Bulletin Statistical Supplement • August 2005
1.55 CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
2004
Holder and type of credit
2002
2003
2005
2004
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
Seasonally adjusted
1 Total
1,922,805
2,013,481
2,104,924
2,097,736
2,104,924
2,116,766
2,122,569
2,129,279'
2,132,301
2 Revolving
3 Nonrevolving2
736,944
1,185,861
760,717
1,252,765
793,165
1,311,760
787,662
1,310,074
793,165
1,311,760
795,815
1,320,951
797,046
1,325,523
796,411'
1,332,868'
796,083
1,336,219
Not seasonally adjusted
4 Total
1,954,376
2,141,168
2,110,011
2,141,168
2,135,258
2,123,813
2,117,158'
2,118,884
675,038
295,424
205,877
1 14,658
77,850
67,211
610,976
71 1,386
368,164
215,384
98,363
91,281
66,084
590,507
681,402
373,495
216,095
98,579
90,566
61,554
588,321
71 1,386
368,164
215,384
98,363
91,281
66,084
590,507
700,679
361,430
214,838
100,839
91,108
63,990
602,372
696,669
363,572
214,114
100,868
90,953
62,711
594,927
690,439
361,702'
214,967
100,647
90,780
62,105
596,518'
691,950
359,295
217,010
99,024
91,67 1
62,138
597,795
759,331
250,197
38,948
22,228
n.a.
16,260
41,435
390,263
784,402
290,667
37,576
22,410
n.a.
23,848
23,226
386,675
819,077
321,765
43,314
23,244
n.a.
27,905
19,184
383,665
790,051
291,742
49,901
22,336
n.a.
27,087
18,547
380,438
819,077
321,765
43,314
23,244
n.a.
27,905
19,184
383,665
806,779
306,300
43,505
22,909
n.a.
27,658
18,778
387,629
797,292
301,905
45,303
22,629
n.a.
27,435
18,488
381,532
789,007
295,230
43,466
22,486
n.a.
27,188
18,282
382,355
792,189
297,634
43,848
22,667
n.a.
27,876
18,377
381,787
1 195 045
356,175
198,842
173 516
129,576
52,445
37,673
246,819
1 ^ 63^
384,371
257,847
183,467
1 14,658
54,002
43,986
224,301
1 3 ^ 09^
389,621
324,849
192,140
98,363
63,376
46,900
206,842
1319 960
389,661
323,594
193,759
98,579
63,478
43,007
207,883
1,322,092
389,621
324,849
192,140
98,363
63,376
46,900
206,842
1,328,478
394,379
317,925
191,929
100,839
63,450
45,213
214,743
1,326,521
394,765
318,269
191,485
100,868
63,518
44,223
213,395
1,328,151'
395,209
318,236
192,481
100,647
63,592
43,823
214,163'
1,326,695
394,315
315,447
194,343
99,024
63,795
43,762
216,009
By major holder
5 Commercial banks
6 Finance companies
7 Credit unions
8 Federal government and Sallie Mae
9 Savings institutions
10 Nonfmancial business
1 1 Pools of securitized assets1
606,372
237,790
195,744
129,576
68,705
79,108
637,082
By major type of credit4
12 Revolving'
13 Commercial banks
14 Finance companies
15 Credit unions
16 Federal government and Sallie Mae
17
Savings institutions
18 Nonfmancial business
19 Pools of securitized assets1
''O Nonrevolving
21
Commercial banks
22
Finance companies
"M Credit unions
24 Federal government and Sallie Mae
25
Savings institutions
26
Nonfmancial business
27
Pools of securitized assets1
2,047,034
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, available at www.federalreserve.gov/
releases.
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.
1.56
3. Outstanding balances of pools upon which securities have been issued; these balances
are no longer earned on the balance sheets of the loan originator.
4. Totals include estimates for certain holders for which only consumer credit totals are
available.
TERMS OF CONSUMER CREDIT1
Percent per year except as noted
2004
Item
2002
2003
2005
2004
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
INTEREST RATES
Commercial banks2
1 48-month new car
2 24-month personal
7.62
12.54
6.93
11.95
6.60
11.89
n.a.
n.a.
6.71
11.84
n.a.
n.a.
n.a.
n.a.
6.86
12.01
n.a.
n.a.
n.a.
n.a.
Credit card plan
3 All accounts
4 Accounts assessed interest
13.40
13.11
12.30
12.73
12.71
13.21
n.a.
n.a.
12.50
13.92
n.a.
n.a.
n.a.
n.a.
12.21
14.13
n.a.
n.a.
n.a.
n.a.
Auto finance companies
5 New car
6 Used car
4.29
10 74
3.40
9 7^
4.36
8 96
4.42
8 94
5.64
8 8^
4.97
8 86
5.56
8 95
4.68
9 36
4.35
9 38
4.76
9 41
Maturity (months)
7 New car
8 Used car
56.8
57 5
61.4
57 5
60.5
56 8
63.4
57 1
60.5
56 8
60.2
56 7
59.3
57 6
59.1
57 9
59.7
57 9
59.5
57 9
Loan-to-value ratio
9 New car
10 Used car
94
100
95
100
89
100
85
99
83
98
85
99
83
98
89
98
88
99
87
99
24,747
14,532
26,295
14,613
24,888
15,136
24,7 11
15,547
23,984
15,632
24,434
15,964
23,939
15,673
24,290
15,453
24,118
15,395
23,725
15,750
OTHER TERMS1
Amount financed (dollars)
1 1 New car
12 Used car
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, available at www.federalreserve.gov/releases.
2. Data are available for only the second month of each quarter.
3. At auto finance companies.
Flow of Funds
1.57
35
FUNDS RAISED IN U.S. CREDIT MARKETS1
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction categoiy or sector
Q3
Q4
Ql
Q2
Q3
Q4
Ql
Nonfinancial sectors
1 Total net borrowing by domestic nonfinancial sectors .
By sector and instrument
2 Federal government
3
Treasury securities
4
Budget agency securities and mortgages
1,667.5
-71.2
-71.0
-294.9
-1.0
1,384.7
-5.6
-5.1
-.5
257.6
-88.3
122.9
348.5
-82.0
8.9
671.1
-64.2
159.4
132.3
-87.4
20.3
819.2
678.5
36.8
96.2
7.6
83.7
^0.0
135.1
158.3
-82.0
10.0
997.5
798.2
92.7
8.5
110.0
846.5
307.3
143.4
156.1
7.7
117.8
5.6
1,755.4
257.1
.5
1,943.2
444.9
448.6
-3.6
206.7
206.9
312.1
311.8
606.2
606.9
-.7
32.3
72.7
6.7
22.4
164.0
52.8
-13.2
-25.4
102.1
138.5
96.8
107.9
1,129.3
900.0
46.1
173.4
9.7
81.9
53.7
297.7
83.0
136.5
1,109.0
878.5
30.1
195.2
5.1
98.9
5 Non federal
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
17
18
19
20
21
22
By borrowing sector
Household
Nonfinancial business
Corporate
Non farm noncorporate
Farm
State and local government
23 Foreign net borrowing in United States
24
Commercial paper
25
Bonds
26
Bank loans n.e.c
27
Other loans and advances
37.4
54.4
221.7
81.4
26.1
567.1
48.1
23.6
423.9
38.9
97.9
6.5
162.6
97.7
79.6
553.3
409.6
28.0
109.2
6.6
114.0
167.1
493.5
569.9
370.2
620.3
394.4
194.3
5.3
38.5
558.2
558.5
350.5
197.1
10.9
15.5
162.7
10.5
105.8
735.3
184.0
27.7
148.5
7.8
143.9
13.0
16.3
1.9
.5
-5.7
57.0
31.7
15.2
11.4
-1.3
-49.8
-14.2
-24.5
-7.3
-3.8
36.1
-33.5
5.3
-2.3
-15.7
22.3
-28.1
-7.7
-2.1
1,326.4
1,651.9
28 Total domestic plus foreign
509.2
40.2
114.1
7.7
139.4
893.2
69.3
122.0
8.1
-74.3
107.7
70.6
-90.8
68.7
895.6
692.1
89.7
105.2
8.5
47.1
33.8
180.3
114.2
-46.5
23.2
1,169.8
990.8
19.0
153.2
6.9
114.8
91.7
-30.7
1,080.7
894.2
63.1
10.6
57.2
1,319.2
1,096.9
30.1
183.0
9.1
121.0
904.1
254.5
73.8
168.8
11.9
109.1
662.3
266.0
71.6
184.7
9.7
96.3
1,086.0
342.6
199.3
138.7
4.5
161.1
981.5
274.9
94.3
167.6
12.9
54.1
1,107.8
433.1
224.8
187.5
20.8
151.9
943.8
594.2
404.9
177.6
11.6
93.2
956.3
577.0
389.5
186.1
1.3
271.9
-64.7
-56.0
46.0
20.2
26.5
-.7
.0
70.3
99.6
-19.6
-6.7
-2.9
-78.3
-30.1
-54.2
7.0
-1.1
22.7
24.4
12.9
-9.0
-5.6
228.4
160.7
52.3
18.5
-3.1
12.4
-1.4
2,171.7
2,425.1
4.8
130.0
96.1
-110.9
-22.9
1,060.5
836.6
72.1
143.3
-8.8
5.3
-5.3
1,430.7
26.6
1,677.1
26.4
Financial sectors
29 Total net borrowing by financial sectors . ..
1,020.6
788.6
890.5
835.3
1,029.0
1,073.9
1,115.3
708.4
866.6
772.3
858.7
By instrument
Federal government-related
Government-sponsored enterprise securities
Mortgage pool securities
Loans from U.S. government
593.3
318.8
274.6
.0
434.9
235.2
199.7
.0
642.7
304.1
338.5
.0
546.7
219.8
326.8
.0
574.3
243.7
330.5
.0
767.5
459.9
307.6
.0
572.2
96.9
475.3
.0
80.6
.6
80.1
.0
285.3
211.9
73.4
.0
179.0
119.6
59.4
.0
10.8
10.1
.8
.0
-27.4
-40.6
427.3
176.2
149.9
-12.8
107.1
6.9
353.7
131.7
170.9
3.8
42.5
4.9
247.8
-45.3
252.5
13.0
25.5
288.7
-63.5
335.7
1.5
6.8
8.2
454.7
-63.8
483.8
-4.8
31.2
8.3
306.5
-62.5
340.2
14.5
.7
13.5
543.1
-114.3
602.9
-6.5
41.9
19.1
627.8
149.6
350.5
25.3
76.0
26.5
581.4
10.8
422.9
-34.4
166.1
15.9
593.3
-64.4
616.1
52.0
-30.9
20.6
847.9
40.8
675.3
6.8
85.4
39.6
592.1
180.7
355.3
14.0
23.6
18.4
67.2
48.0
2.2
.7
318.8
274.6
153.8
70.7
.0
10.4
-17.2
91.6
60.0
27.3
.0
-.7
235.2
199.7
165.5
81.9
.0
4.5
15.6
-.3
52.9
-2.0
1.5
.6
304.1
338.5
243.5
1.3
.0
3.2
1.4
-54.6
49.7
-23.4
2.0
2.0
219.8
326.8
193.9
42.2
.0
24.5
-1.7
-.5
49.2
6.1
2.2
2.9
243.7
330.5
239.3
118.2
.0
31.9
6.4
-1.4
2.8
.4
3.3
3.1
459.9
307.6
200.0
91.2
.0
43.8
9.9
^8.0
85.2
25.0
1.0
2.5
96.9
475.3
178.0
148.4
.0
56.3
-6.6
53.3
187.6
-7.0
-2.7
-.4
.6
80.1
181.1
133.9
.0
67.1
51.9
16.2
7.1
184.4
4.9
2.7
211.9
73.4
316.6
-19.8
.0
43.6
2.5
39.5
58.9
-21.1
.9
.1
119.6
59.4
388.8
127.5
.0
102.5
33.2
-97.6
57.2
101.3
6.1
9.7
10.1
.8
347.3
228.9
.0
157.8
-26.6
-33.8
164.8
-39.7
1.6
-1.6
30
31
32
33
34 Private
35
Open market paper
36
Corporate bonds
37
Bank loans n.e.c
38
Other loans and advances
39
Mortgages
40
41
42
43
44
45
46
47
48
49
50
51
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
Issuers of asset-backed securities (ABSs) . . . .
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
13.2
.0
-40.6
13.2
480.8
.0
48.9
11.6
38.9
36
Federal Reserve Bulletin Statistical Supplement • August 2005
1.57
FUNDS RAISED IN U.S. CREDIT MARKETSl—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction categoiy or sector
52 Total net borrowing, all sectors
53
54
55
56
57
58
59
60
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds . . . .
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
Q3
Q4
Qi
Q2
Q3
Q4
Qi
2,064.4
1,681.8
1,955.6
2,161.8
2,680.8
2,594.0
2,546.0
2,852.5
2,543.7
2,694.5
3,030.4
2,989.8
229.9
522.1
54.4
373.5
69.0
127.5
574.0
114.0
211.6
139.0
23.6
348.7
112.8
120.8
558.2
167.1
-147.8
637.1
122.9
576.5
-76.2
30.6
673.3
139.4
-91.5
804.2
159.4
434.5
-80.6
24.7
827.4
83.7
-81.6
970.3
135.1
614.0
-94.5
39.1
1,005.8
92.7
-113.7
1,084.5
130.0
427.5
-91.1
-27.4
1,074.0
110.0
-168.5
932.3
107.7
700.1
-98.0
110.6
914.6
47.1
283.1
564.5
180.3
445.1
-28.0
96.3
1,196.3
114.8
13.0
730.2
72.7
375.4
64.3
134.3
1,096.6
57.2
-17.6
385.7
164.0
681.8
29.7
-9.9
1,339.8
121.0
176.0
322.9
102.1
866.2
122.0
190.2
1,168.9
81.9
265.3
578.8
297.7
353.6
109.5
158.7
1,127.4
98.9
Funds raised through mutual funds and corporate equities
61 Total net issues
192.7
244.7
300.2
229.4
393.3
388.5
412.5
541.5
212.4
321.9
302.1
390.7
62 Corporate equities
63
Nonfmancial corporations
64 Foreign shares purchased by U.S. residents .
65 Financial corporations
66 Mutual fund shares
1.5
10.4
14.3
-2.4
191.2
5.3
-118.2
106.7
16.8
239.4
99.0
-47.4
109.1
37.3
201.2
47.0
-41.6
17.6
71.0
182.4
105.3
-57.8
100.4
62.7
288.0
128.7
^4.9
122.0
51.6
259.8
75.1
-69.0
76.8
67.3
337.4
109.0
-82.2
85.7
105.5
432.5
100.0
-159.5
161.6
97.9
112.4
-6.5
-203.2
68.3
128.4
328.4
-20.9
-183.2
56.4
105.9
323.0
-7.7
-226.0
155.6
62.7
398.4
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.2
through F4, available at www.federalreserve.gov/releases.
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction categoiy or sector
Q3
Q4
Ql
Q2
Q3
Q4
Ql
2,594.0
2,546.0
2,852.5
2,543.7
2,694.5
3,030.4
2,989.8
745.1
254.4
322.4
-88.3
3.9
16.4
-4.3
682.3
1,613.6
33.8
206.1
283.0
-85.3
-257.2
-420.7
74.0
3.1
86.4
4.7
952.7
2,152.3
16.2
880.8
849.5
18.3
1.2
11.9
225.3
44.3
1.0
235.1
105.3
44.7
242.5
133.4
24.7
3.0
81.4
-11.9
761.3
1,551.8
53.0
491.8
491.5
-15.9
-2.3
18.5
163.3
299.2
272.4
-44A
2.5
68.4
523.5
421.5
23.5
1.5
77.1
_") T
806.4
1,702.6
61.3
702.9
601.1
89.1
-2.0
14.8
264.8
42.8
4.3
229.9
71.5
-121.2
56.8
1.2
134.7
-.3
848.6
2,070.1
-17.6
1,025.0
813.4
211.2
-11.9
12.2
28.6
39.1
-2.5
171.7
78.5
7.5
2.7
-201.7
211.3
9.5
-95.4
13.2
471.5
55.7
.0
22.7
54.4
184.1
NET LENDING IN CREDIT MARKETS2
1 Total net lending in credit markets
2 Domestic nonfederal nonfinancial sectors
3
Household
4
Nonfinancial corporate business
5
Nonfarm noncorporate business
6
State and local governments
7 Federal government
8 Rest of the world
9 Financial sectors
10 Monetary authority
1 1 Commercial banking
12
U.S.-chartered banks
13
Foreign banking offices in United States . .
14
Bank holding companies
15
Banks in U.S.-affiliated areas
16 Savings institutions
17 Credit unions
18 Bank personal trusts and estates
19 Life insurance companies
20
Other insurance companies
21
Private pension funds
22
State and local government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Government-sponsored enterprises
27
Federally related mortgage pools
28 Asset-backed securities issuers (ABSs)
29
Finance companies
30
Mortgage companies
31
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
2,064.4
1,681.8
1,955.6
87.2
10.8
-21.9
-2.4
100.6
-3.3
-40.5
24.9
.0
-36.4
6.4
171.2
1,799.5
25.7
318.6
-17.0
12.3
11.6
241.9
1,431.5
33.7
357.9
339.5
23.9
6.2
4.4
67.2
27.5
6.7
56.2
27.8
53.5
-3.0
57.9
99.3
45.5
182.0
48.4
28.0
.8
-8.7
-96.4
45.8
143.0
-153.1
2.4
6.4
107.8
6.0
305.3
1,680.7
39.9
205.2
191.6
-.6
4.2
10.0
44.6
41.5
-28.1
130.9
9.0
13.3
-41.1
246.0
-28.4
-71.3
22.3
-.4
21.0
9.6
422.8
1,757.8
77.7
404.4
393.8
6.2
3.1
1.3
33.6
42.7
.9
233.0
39.9
25.7
-14.0
-25.3
144.2
8.6
224.1
326.8
201.9
21.2
.0
25.4
28.4
-58.0
199.6
156.3
39.9
-2.5
538.2
1,945.6
37.2
299.5
323.3
-43.0
8.6
10.6
126.3
50.7
-2.4
180.6
67.0
14.2
9.0
-113.1
137.7
36.2
236.5
330.5
245.9
84.2
.0
23.5
79.6
95.4
174.5
97.1
.0
-1.2
-34.7
103.4
199.7
152.5
108.6
.0
-4.4
68.9
24.4
126.1
3.2
304.7
338.5
230.1
^.8
.0
8.7
92.4
-89.2
2,064.4
1,681.8
1,955.6
2,161.8
2,680.8
-8.7
-3.0
1.0
48.9
18.1
151.2
45.1
131.1
249.1
169.0
1.5
191.2
-.4
4.3
.0
1.3
6.8
-28.0
204.3
3.2
.0
1.0
21.0
17.4
43.5
270.9
50.1
-16.8
106.6
47.0
182.4
70.8
-87.0
60.1
169.5
-.9
.0
.6
.0
^.0
133.8
229.4
62.0
-207.8
227.2
105.3
288.0
136.4
132.5
9.6
287.3
274.6
20.9
-5.6
246.0
655.6
7.2
3.8
78.5
20.1
321.4
1,507.3
37.6
-6.1
100.5
-100.0
-26.1
19.4
66.4
83.6
-2.5
117.1
68.7
41.9
-16.4
-220.2
-14.5
42.5
506.6
307.6
204.1
164.4
.0
28.1
21.1
76.4
8.1
143.9
-5.3
-2.0
85.9
93.3
47.4
39.9
6.6
93.9
16.1
34.0
475.3
196.9
107.5
.0
38.0
306.5
-32.4
-241.8
208.7
9.9
12.4
80.1
193.8
187.3
.0
94.3
-207.7
250.1
-9.3
.0
.0
128.1
97.9
170.9
102.1
64.6
-467.7
380.0
75.1
337.4
162.0
-278.1
110.1
196.0
-20.6
-25.5
-129.3
-2.6
.0
.8
132.4
-213.0
172.4
226.2
301.0
-134.0
273.0
109.0
432.5
336.6
285.3
70.8
232.7
29.8
-23.3
-262.4
63.2
1.0
176.0
65.1
22.9
40.8
-109.0
21.1
21.7
181.1
73.4
333.8
44.8
.0
27.9
-189.6
59.1
24.6
586.3
1,784.5
74.1
253.2
249.9
-10.2
3.0
10.5
152.4
17.6
1.0
168.2
73.5
44.9
-41.2
-153.1
111.5
.3
131.8
59.4
396.5
91.7
.0
64.4
397.9
-72.8
65.2
27.0
-10.0
-46.6
127.4
12.7
-166.6
.8
312.0
190.7
.0
78.0
-117.3
-80.9
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Netflowsthrough credit markets
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
Other financial sources
Official foreign exchange
Special drawing rights certificates . .
Treasury currency
Foreign deposits
Net interbank transactions
Checkable deposits and currency . .
Small time and savings deposits . . .
Large time deposits
Money market fund shares
Security repurchase agreements . . .
Corporate equities
Mutual fund shares
Trade payables
Security credit
Life insurance reserves
Pension fund reserves
Taxes payable
Investment in bank personal trusts .
Noncorporate proprietors' equity . .
Miscellaneous
55 Total financial sources .
56
57
58
59
60
61
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
62 Federal government checkable deposits
63 Other checkable deposits
64 Trade credit
65 Total identified to sectors as assets .. .
2.4
126.9
12.0
-71.4
267.2
68.6
428.6
23.7
99.0
201.2
-80.4
-88.3
1,116.2
116.2
233.3
114.5
5.3
239.4
402.3
146.1
50.2
133.0
25.9
56.6
-53.8
1,399.8
4,642.4
4,804.8
-.7
30.5
3.2
38.6
10.8
-226.0
-1.2
66.1
17.3
110.8
262.5
104.4
50.8
123.1
22.9
77.2
128.5
14.5
-59.9
-24.5
668.4
-2.4
-102.4
483.7
66.8
197.1
8.8
-26.3
-97.7
666.2
3,959.4
3,502.8
4,598.1
32.6
^40.9
-12.8
17.2
-61.2
21.4
-304.9
-.6
11.1
7.2
20.0
27.8
-54.1
-.3
31.6
-4.4
-16.7
-35.2
-133.9
-7.4
-.8
24.1
9.0
-.3
19.9
5.7
-.5
18.4
-1.6
-.7
147.2
-8.9
.0
29.4
4,770.1
4,991.5
4,276.1
3,346.5
4,736.4
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.I
and F.5, available at www.federalreserve.gov/releases.
2,594.0
.0
.1
-306.0
80.4
44.7
120.2
-23.3
-227.3
39.5
128.7
259.8
141.6
-109.7
42.2
236.0
4.1
-26.4
-2.1
.0
.7
119.4
-222.3
102.2
167.1
207.2
-154.3
427.0
-6.5
328.4
253.0
12.2
81.1
192.9
23.9
-23.3
-104.7
1,07 1.6
6,911.4
4,316.9
-271.2
33.9
-53.9
-29.5
88.7
-67.4
1,896.7
1,427.5
-4.8
.0
1.2
14.8
87.1
144.5
429.9
177.6
11.8
-191.6
100.0
112.4
290.6
163.3
70.4
143.3
34.1
-23.3
^3.6
497.5
-.7
146.6
-31.7
145.0
-60.4
-826.4
-.4
41.2
15.8
-127.2
-1.6
420.1
-228.8
38.8
255.5
-.3
152.8
^3.9
123.4
34.7
-216.0
14.2
1.0
41.5
1.7
73.5
2.4
-14.4
8.6
3.1
8.4
66.5
.0
^7.0
64.0
4,572.9
2. Excludes corporate equities and mutual fund shares.
-3.2
.0
.1
218.0
71.6
193.0
12.8
-19.8
-69.4
1,239.2
-1.9
.0
.8
100.0
54.3
107.1
105.9
281.8
-82.5
619.7
-7.7
398.4
302.9
-28.2
78.0
219.0
28.8
-12.1
-15.8
1,086.8
5,690.9
6,225.3
-.5
99.5
24.1
-353.9
12.7
651.5
.1
89.1
25.8
571.6
-42.9
-743.6
63.4
3.8
5.2
-53.2
4.5
37.1
56.2
178.3
174.4
302.1
-268.3
-177.4
-20.9
323.0
245.0
205.6
38
Federal Reserve Bulletin Statistical Supplement • August 2005
1.59
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
2003
Transaction category or sector
2000
2001
2002
2004
2005
2003
Q4
Q3
Ql
Q2
Q3
Q4
Ql
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
By sector and instrument
2 Federal government
4
Budget agency securities and mortgages
5 Non federal
18,101.0
19,216.4
20,537.2
22,237.2
21,782.7
22,237.2
22,672.7
23,079.1
23,608.3
24,169.9
24,681.1
3,385.1
3 357 8
27.3
3,379.5
3 35"> 7
26.8
3,637.0
3 609 8
27.3
4,033.1
4 008 ^
24.9
3,914.5
3 887 5
27.0
4,033.1
4 008 ^
24.9
4,168.9
4 143 8
25.1
4,209.6
4,185.4
24.2
4,292.9
4,268.7
24.2
4,395.0
4,370.7
24.3
4,559.7
4,535.6
24.1
15,837.0
16,900.2
18,204.1
17,868.3
18,204.1
18,503.8
18,869.5
19,315.4
19,774.9
20,121.4
278.4
1,480.9
2,230.3
1,335.0
932.1
6,727.9
5 P 5 ">
388.6
1,103.9
1 10 ">
1,731.3
190.1
1,603.7
2,578.8
1,253.6
941.0
7,399.0
5 634 3
428.8
1,218.0
117.8
1,870.7
126.0
1,763.1
2,711.0
1,166.2
961.3
8,218.2
6 3P 9
465.7
1,314.2
125.5
1,954.4
85.9
1,898.2
2,869.3
1,116.6
971.3
9,215.7
7,111.1
534.9
1,436.1
133.6
2,047.0
108.4
1,863.5
2,851.7
1,096.0
958.0
8,987.0
6,938.5
512.5
1,404.4
131.7
2,003.6
85.9
1,898.2
2,869.3
1,116.6
97 1.3
9,215.7
7,111.1
534.9
1,436.1
133.6
2,047.0
95.5
1,940.4
2,897.9
1,101.4
969.5
9,469.1
7,325.3
539.7
1,468.8
135.3
2,030.0
102.5
1,973.9
2,899.6
1,121.6
976.8
9,753.5
7,561.9
555.4
1,497.8
138.3
2,041.5
109.3
1,993.6
2,912.8
1,114.1
981.0
10,118.8
7,872.5
563.0
1,542.8
140.5
2,085.8
101.7
2,028.0
2,947.4
1,148.8
1,003.1
10,405.2
8,096.4
574.5
1,591.7
142.6
2,140.7
115.6
2,098.9
2,954.0
1,166.2
1,027.7
10,642.1
8,281.5
582.0
1,634.6
143.9
2,117.1
7 6^9 5
6,909.4
4,758.1
1,959.3
192.0
1,298.1
8 364 8
7,093.4
4 785 7
2,107.8
199.8
1,442.0
9,231.7
7,412.7
4 941 ^
2,264.0
207.5
1,559.7
9,008.4
7,330.1
4 907 ^
2,217.2
205.6
1,529.8
9,231.7
7,412.7
4 941 ^
2,264.0
207.5
1,559.7
9,419.5
7,485.7
4 981 4
2,298.7
205.6
1,598.6
9,679.8
7,562.8
5 009 ^
2,341.1
212.5
1,626.8
10,001.3
7,669.4
5 065 0
2,386.9
217.5
1,644.8
10,276.2
7,823.9
5 17^ 0
2,431.9
220.0
1,674.8
10,427.5
7,953.2
5 ^57 5
2,478.4
217.2
1,740.8
14,715.9
6
7
8
9
10
11
1 ">
13
14
15
16
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
18
19
20
"> 1
22
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
7 009 ">
6,514.4
4,536.2
1,796.7
181.5
1,192.3
23 Foreign credit market debt held in
United States
709.6
659.9
665.5
649.8
638.7
649.8
666.9
648.3
654.2
710.6
714.0
24 Commercial paper
25 Bonds
26 Bank loans n.e.c
120.9
468.0
70.5
50 ">
106.7
443.5
63.2
46.4
142.8
410.0
68.6
44.1
165.1
381.9
60.9
42.0
160.4
375.3
61.0
42.0
165.1
381.9
60.9
42.0
190.0
377.0
59.2
40.8
183.4
363.5
60.9
40.5
189.2
366.7
58.7
39.7
228.7
379.8
63.3
38.8
236.9
372.7
66.4
38.0
19,876.3
21,202.7
22,887.0
22,421.5
22,887.0
23,339.6
23,727.4
24,262.5
24,880.5
25,395.1
11,328.1
11,543.5
11,794.3
11,915.6
By borrowing sector
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign
18,810.6
Financial sectors
29 Total credit market debt owed by
financial sectors
8,237.0
9,127.6
9,962.9
10,977.9
10,676.2
10,977.9
11,133.2
4 319 7
1,826.4
-) 49^ -)
.0
3 917 4
1,214.7
"> 090 0
91.1
438.3
83.4
4 96^ 3
2,130.6
^ 831 8
.0
4 165 ^
1,169.4
2,342.5
104.1
463.7
85.6
5 509 0
2,350.4
3 158 6
.0
4 453 9
1,105.9
2,678.2
105.6
470.5
93.8
6 083 3
2,594.1
3,489.1
.0
4,894.6
1,042.1
3,147.9
100.8
501.7
102.1
5 941 ^
2,569.9
3,371.3
.0
4,735.0
1,025.7
3,018.6
103.1
490.3
97.3
6 083 3
2,594.1
3,489.1
.0
4,894.6
1,042.1
3,147.9
100.8
501.7
102.1
6 104 4
2,594.3
3 510^
.0
5,028.7
1,055.0
3 ^43 7
104.8
516.6
108.7
6,170.7
2,647.3
3 5^3 5
.0
5,157.4
1,028.2
3 359 1
99.2
558.1
112.7
6,220.8
2,677.2
3 543 6
.0
5,322.8
1,022.0
3 516^
112.5
554.3
117.8
6,222.2
2,679.7
3 54^ 5
.0
5,572.1
1,076.3
3 679 0
113.2
575.8
127.7
6,217.0
2,669.5
3 547 5
.0
5,698.6
1,096.2
3,777.1
114.4
578.6
132.3
">66 7
242.5
287.7
3.4
2.5
1,826.4
2,493.2
1 607 7
40.9
778.0
16.0
168.0
503.9
296.0
266.1
285.7
4.9
3.1
2,130.6
2,831.8
1 851 ^
42.3
779.2
16.0
171.2
449.3
325.5
286.4
262.3
6.9
5.1
2,350.4
3,158.6
^ 045 1
40.6
821.4
16.0
195.7
448.8
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
333.8
304.8
262.3
8.8
7.4
2,569.9
3,371.3
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
-> ->-JQ 4
->
-> ->-JQ 4
355.8
347.5
267.2
8.4
7.9
2,594.3
3,510.2
^ 306 3
60.0
959.0
16.0
244.4
456.1
358.7
351.5
308.0
9.6
8.6
2,647.3
3,523.5
^ 385 1
60.6
963.1
16.0
255.3
440.8
356.8
366.6
308.2
9.9
8.6
2,677.2
3,543.6
^ 475 6
68.9
995.1
16.0
295.8
421.3
357.5
381.3
332.8
11.4
11.1
2,679.7
3,542.5
^ 578 9
62.2
1,057.2
16.0
335.3
428.5
372.9
402.3
324.4
11.8
10.7
2,669.5
3,547.5
2,689.5
65.1
1,013.8
16.0
347.5
444.6
33,864.9
34,472.8
35,055.5
35,806.0
36,674.8
37,310.7
1 ^93 1
10,116.3
1 898 ^
6,399.2
1 ^78 3
1,515.0
9,317.8
2,047.0
1 340 4
10,273.4
1 940 4
6,518.6
1 ^65 3
1,527.0
9,577.8
2,030.0
1 314 ^
10,380.3
1 973 9
6,622.2
1,281.8
1,575.4
9,866.2
2,041.5
1 3^0 5
10,513.7
1 993 6
6,795.6
1,285.3
1,575.0
10,236.6
2,085.8
1,406.7
10,617.2
2,028.0
7,006.1
1,325.3
1,617.7
10,533.0
2,140.7
1,448.6
10,776.6
2,098.9
7,103.8
1,347.0
1,644.2
10,774.4
2,117.1
By instrument
31
Government-sponsored enterprise securities . . .
33
Loans from U.S. government
34 Private
35
Open market paper
37
38
39
Bank loans n.e.c
Other loans and advances
Mortgages
By borrowing sector
41
42
43
44
45
46
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
48
49
50
51
52
Brokers and dealers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Funding corporations
47.0
939.6
16.0
227.7
447.4
T^5
->
48.6
897.2
16.0
213.6
417.2
47.0
939.6
16.0
227.7
447.4
All sectors
53 Total credit market debt, domestic and foreign .
55 U.S. government securities
57 Corporate and foreign bonds
59 Other loans and advances
61 Consumer credit
27,047.6
1 614 0
7,704.8
1 480 9
4,788.3
1 496 6
1,420.5
6 8113
1,731.3
29,003.9
1 466 ^
8,341.8
1 603 7
5,364.8
1 4^1 0
1,451.1
7,484.6
1,870.7
31,165.6
1 374 7
9,146.0
1 763 1
5,799.2
1 340 4
1,475.9
8,312.0
1,954.4
1. Data in this table appear in the Board's Z.I quarterly statistical release, tables L.2
through L.4, available at www.federalreserve.gov/releases.
33,864.9
1 ^93 1
10,116.3
1 898 ^
6,399.2
1 ^78 3
1,515.0
9,317.8
2,047.0
33,097.7
1 ^94 5
9,855.7
1 863 5
6,245.5
1 ^60 ^
1,490.3
9,084.3
2,003.6
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction categoiy or sector
Q3
Q4
Ql
Q2
Q3
Q4
Ql
CREDIT MARKET DEBT OUTSTANDING2
Total credit market assets
Domestic nonfederal nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Bank personal trusts and estates
Life insurance companies
Other insurance companies
Private pension funds
State and local government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
Asset-backed securities (ABSs) issuers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
27,047.6
29,003.9
31,165.6
33,864.9
33,097.7
33,864.9
34,472.8
35,055.5
35,806.0
36,674.8
37,310.7
3.333.6
3,276.5
3,413.4
2,024.9
251.4
3,294.4
1,935.8
274.2
73.3
1,011.1
286.8
4,128.4
3,370.2
1,987.4
3,427.4
2,026.9
279.2
74.7
1,046.6
289.9
4,483.8
3,610.3
2,172.1
293.4
75.1
1,069.7
289.4
4,674.8
28,100.3
717.8
5,960.8
5,361.7
485.8
3,281.4
1,936.9
289.0
71.6
983.9
286.7
3,772.2
25,757.3
656.1
5,831.8
5,230.3
490.3
3,413.4
2,198.7
249.0
3,192.9
1,898.4
273.7
3,588.4
2,124.8
287.0
75.4
1,101.3
289.3
4,877.4
28,555.6
717.3
6,751.7
36.4
76.9
1,293.3
514.5
193.2
2,488.3
63.2
822.6
272.6
2,590.8
20,850.7
511.8
5,006.3
4,419.5
511.3
20.5
55.0
1,088.8
379.7
222.8
1,943.9
509.4
624.0
752.8
1,290.9
1,097.7
105.3
1,794.4
2,493.2
1,517.9
851.2
2,075.6
273.9
69.7
69.3
72.6
930.5
278.6
2,916.9
22,531.9
551.7
5,210.5
4,610.1
510.7
24.7
951.5
288.2
3,394.8
24,289.7
629.4
5,614.9
5,003.9
516.9
27.8
991.4
285.6
3,898.1
65.0
66.3
1,133.4
421.2
194.7
2,074.8
518.4
637.3
711.7
1,536.9
1,167.0
463.9
195.6
2,307.8
558.3
108.5
2,099.1
2,831.8
1,747.9
846.4
663.0
697.7
1,511.6
1,368.0
117.1
2,323.2
3,158.6
1,949.8
867.6
37.5
223.6
332.2
46.2
316.0
244.5
32.1
71.7
344.4
186.5
27,047.6
29,003.9
31,165.6
26,267.7
666.7
625.2
677.2
706.7
1,398.5
1,505.7
153.3
2,559.7
3,489.1
2,181.7
951.8
32.1
95.2
424.1
281.9
33,864.9
2,075.6
273.9
72.6
991.4
285.6
3,898.1
26,267.7
666.7
26,763.3
5,960.8
5,361.7
485.8
674.1
6,135.3
5,525.9
492.9
36.4
36.4
36.7
74.9
1,261.5
517.7
193.7
2,471.6
601.9
76.9
1,293.3
514.5
193.2
2,488.3
79.9
1,370.8
524.2
193.4
2,546.1
651.5
688.4
708.3
1,341.5
1,552.2
155.8
2,555.7
3,510.2
2,220.8
989.2
32.1
118.8
405.0
319.8
665.4
696.7
625.2
677.2
706.7
1,436.8
1,478.5
149.3
2,549.7
3,371.3
2,131.8
924.2
32.1
85.7
375.0
257.1
1,398.5
1,505.7
153.3
2,559.7
3,489.1
2,181.7
951.8
32.1
95.2
424.1
281.9
276.3
74.1
1,032.3
283.8
4,328.4
27,073.2
687.4
6,270.2
5,665.7
484.0
36.1
84.5
1,408.6
541.5
193.7
2,590.5
667.8
694.2
718.5
1,271.3
1,557.6
161.2
2,603.8
3,523.5
2,303.8
1,009.9
32.1
125.8
325.5
313.6
27,605.0
700.3
6,336.9
5,734.3
478.6
36.9
87.1
1,453.0
547.7
193.9
2,638.9
6,543.0
5,909.7
506.1
36.4
6,062.3
562.2
33.4
90.8
1,514.7
93.8
1,523.4
556.5
565.0
194.4
2,733.0
722.1
714.0
307.6
195.0
2,690.7
702.5
712.1
705.7
1,260.8
1,622.9
164.5
2,599.4
3,542.5
2,490.7
1,080.4
32.1
176.2
394.9
320.8
686.2
705.4
708.2
1,247.1
1,586.6
161.3
2,640.2
3,543.6
2,396.2
1,033.5
32.1
156.7
453.5
706.4
1,212.2
1,669.9
166.8
2,569.1
3,547.5
2,599.0
1,084.4
32.1
181.8
442.6
343.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
Other liabilities
Official foreign exchange
Special drawing rights certificates . .
Treasury currency
Foreign deposits
Net interbank liabilities
Checkable deposits and currency . .
Small time and savings deposits . . .
Large time deposits
Money market fund shares
Security repurchase agreements . . .
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Trade payables
Taxes payable
Investment in bank personal trusts .
Miscellaneous
33,864.9
46.8
55.8
62.3
61.3
61.5
58.9
58.7
62.2
56.3
25.5
831.1
26.0
26.0
26.2
26.5
26.7
26.7
803.4
221.3
1,413.1
2,860.4
1,052.6
1,812.1
1,197.3
4,435.3
822.7
819.1
8,831.3
2,747.7
204.8
1,095.8
10,543.6
24.5
810.1
191.4
1,603.2
3,127.6
1,121.1
2,240.7
1,233.7
4,135.5
825.9
880.0
8,330.2
2,667.3
219.2
960.7
11,330.2
1,646.7
3,398.5
1,171.3
2,223.9
1,340.3
3,638.4
738.8
920.9
7,611.7
2,738.1
241.4
840.9
11,961.1
831.1
203.5
1,780.6
3,627.9
1,233.2
2,016.0
1,567.5
799.1
163.7
1,707.2
3,600.9
2,057.3
1,452.4
203.5
1,780.6
3,627.9
1,233.2
2,016.0
1,567.5
4,242.6
4,653.2
871.3
1,013.2
8,836.7
2,874.5
250.2
932.4
12,537.5
940.2
973.0
8,298.3
2,821.8
885.0
12,363.8
87 1.3
1,013.2
8,836.7
2,874.5
250.2
932.4
12,537.5
936.9
12,811.9
867.9
135.8
1,847.9
3,793.9
1,379.3
1,912.3
1,569.2
4,959.4
987.2
1,052.7
9,100.9
3,010.0
269.7
935.4
12,884.4
897.7
102.6
1,857.4
3,831.0
1,437.2
1,866.3
1,673.5
4,981.3
985.5
1,069.6
9,087.9
3,081.9
281.9
919.2
13,023.2
952.3
130.3
1,929.9
3,877.3
1,505.6
1,879.9
1,650.3
4,653.2
864.2
117.8
1,791.8
3,721.5
.,332.2
1,968.9
1,618.4
4,900.8
952.8
.,034.3
9,007.6
2,933.3
1,037.9
1,099.3
9,612.9
3,155.8
275.4
957.6
12,966.2
26.9
977.3
111.8
1,924.6
3,941.0
1,575.3
1,840.6
1,787.7
5,443.0
1,042.2
1,113.6
9,414.0
3,205.8
289.3
940.1
13,360.6
53 Total liabilities
65,979.5
68,754.2
70,758.3
77,184.3
74,978.7
77,184.3
78,819.6
79,849.2
80,989.8
83,232.6
84,363.2
Financial assets not included in liabilities (+)
54 Gold and special drawing rights
55 Corporate equities
56 Household equity in noncorporate business . .
21.6
17,627.0
4,883.8
21.8
15,310.6
4,990.9
1 1,871.0
5,154.6
23.7
15,497.0
5,516.5
23.1
13,755.1
5,389.4
23.7
15,497.0
5,516.5
23.7
15,832.8
5,593.0
23.7
15,994.1
5,714.0
15,664.0
5,864.9
24.6
17,254.5
6,004.4
22.6
16,811.4
6,148.4
-8.5
624.7
-4.3
396.6
120.0
-3,604.4
-8.6
611.9
11.1
348.1
93.4
-9.5
654.6
-9.6
664.9
16.5
309.7
-9.5
653.1
27.4
256.9
81.3
-3,392.8
-9.6
691.3
20.4
289.4
91.6
-3,327.9
-9.7
716.2
27.3
204.8
98.6
-3,647.3
-9.3
617.9
18.1
312.7
91.4
-3,327.4
-3,602.0
-9.7
738.4
35.0
337.3
94.6
-3,661.0
-2.3
22.0
132.7
-17.9
20.8
327.7
.1
21.5
261.2
3.1
14.7
278.3
23.6
345.8
4.9
20.9
307.6
90,835.2
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
57
58
59
60
61
62
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
63 Federal government checkable deposits
64 Other checkable deposits
65 Trade credit
66 Totals identified to sectors as assets
206.0
264.4
-9.1
-9.5
623.0
654.6
15.5
368.1
120.7
-3,518.1
12.6
351.4
73.9
-12.3
21.6
151.1
-11.7
20.9
-17.9
20.8
327.7
-15.9
12.7
91,508.6
89,899.6
100,229.9
96,199.3
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables L.I
and L.5, available at www.federalreserve.gov/releases.
246.7
12.6
351.4
73.9
264.3
62.5
1.1
17.4
301.1
5,436.0
100,229.9 102,434.3 103,682.0 104,491.2 108,700.2 109,477.6
2. Excludes corporate equities and mutual fund shares.
40
Federal Reserve Bulletin Statistical Supplement • August 2005
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION1
Seasonally adjusted
2004
2005
2004
2005
2004
2005
Series
Q3
Q4
Ql
Q2'
Q3
Q4
Ql
Q2
Capacity (percent of 1997 oitput)
Output (1997=100)
Q3
Q4
Ql
Q2'
Capacity utilization rate (percent)2
1 Total industry
115.9
117.2
118.2
118.6
148.2
148.7
149.1
149.5
78.2
78.8
79.3
79.3
2 Manufacturing
3
Manufacturing (NAICS)
117.9
118.8
119.3
120.2
120.4
121.2
120.7
121.5
153.1
155.4
153.6
155.9
154.1
156.4
154.7
157.0
77.0
76.4
77.6
77.1
78.1
77.5
78.1
77.4
4
5
Durable manufacturing
Primary metal
134.0
93.6
136.1
94.2
137.9
92.1
138.3
85.3
180.1
114.3
181.1
114.0
182.3
114.0
183.7
1 14.3
74.4
81.9
75.2
82.6
75.6
80.8
75.3
74.6
6
7
8
9
Fabricated metal products
Machinery
Computer and electronic products
Electrical equipment, appliances,
and components
Motor vehicles and parts
Aerospace and miscellaneous
transportation equipment
Nondurable manufacturing
Food, beverage, and tobacco products . . . .
Textile and product mills
97.2
97.7
295.5
97.1
98.8
304.2
97.1
100.3
320.1
97.1
102.4
330.0
138.7
126.0
417.0
138.6
126.1
427.6
138.6
126.1
438.8
138.3
126.0
450.1
70.1
77.5
70.9
70.1
78.4
71.1
70.1
79.5
72.9
70.3
81.3
73.3
95.9
122.7
95.8
127.4
94.8
128.2
94.7
126.6
119.7
153.7
119.3
154.3
118.8
155.4
117.9
157.0
80.1
79.8
80.2
82.6
79.8
82.5
80.3
80.6
100.6
100.5
104.5
76.2
101.9
101.3
105.5
75.2
103.9
101.7
105.9
75.6
108.1
101.6
106.5
74.7
155.1
126.9
129.2
101.9
155.5
126.8
129.3
100.9
156.1
126.7
129.4
99.8
157.0
126.6
129.6
98.5
64.9
79.3
80.9
74.8
65.5
79.8
81.6
74.5
66.6
80.2
81.9
75.8
68.9
80.3
82.2
75.9
95.7
110.3
1 11.0
104.2
104.7
95.5
111.9
112.3
104.3
104.8
96.9
112.1
112.6
104.7
107.7
94.7
113.1
1 13.0
103.6
108.9
110.3
122.3
146.4
125.3
119.4
1 10.2
122.5
146.7
125.0
119.7
110.2
122.7
146.8
124.6
119.9
1 10.3
122.8
146.8
124.1
119.9
86.8
90.2
75.9
83.2
87.6
86.6
91.3
76.6
83.5
87.6
87.9
91.4
76.7
84.0
89.9
85.8
92.1
77.0
83.5
90.8
''O Mining
21 Electric and gas utilities
91 ^
113.1
90 4
115.9
g-r i
115.0
93.0
115.9
105.7
135.1
105.6
135.7
105.4
136.2
105.2
136.5
86.3
83.7
85.6
85.4
87.5
84.4
88.4
84.9
MEMOS
22 Computers, communications equipment, and
semiconductors
415.2
429.5
458.1
471.9
593.8
615.3
637.7
658.9
69.9
69.8
71.8
71.6
23 Total excluding computers, communications
equipment, and semiconductors
103.6
104.6
105.3
105.5
131.3
131.4
131.5
131.6
78.9
79.6
80.1
80.2
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
103.5
104.5
105.1
105.2
133.0
133.0
133.1
133.2
77.8
78.5
79.0
79.0
10
11
12
13
14
15
16
17
18
19
Paper
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Selected Measures
2.12
41
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION1—CONTINUED
Seasonally adjusted
1973
1975
Previoi s cycle2
High
Low
High
Latest cycle1
2005
2004
Series
Low
High
Low
July
Feb.
Mar.
Apr.'
May'
June'
July'
Capacity ut lization rate (percent)4
1 Total industry
88.7
73.9
86.6
70.8
85.1
78.6
78.3
79.4
79.5
79.0
79.2
79.8
79.7
2 Manufacturing
3
Manufacturing (NAICS)
88.1
88.2
71.4
71.2
86.3
86.4
68.5
67.9
85.6
85.5
77.2
77.0
77.0
76.5
78.3
77.7
78.1
77.4
77.8
77.2
78.1
77.3
78.3
77.6
78.3
77.6
89.1
100.9
69.3
69.2
86.9
91.2
62.9
47.2
84.5
94.3
73.4
74.6
74.4
81.7
75.9
80.1
75.4
80.4
75.1
76.4
75.3
75.0
75.5
72.5
75.6
74.1
91.7
94.3
70.0
73.9
83.1
93.0
62.0
58.6
80.2
84.8
71.6
73.0
70.0
78.7
70.1
79.5
70.1
79.7
70.1
80.6
70.3
81.5
70.3
81.8
70.7
82.6
87.0
66.1
89.3
76.2
81.7
76.6
70.8
73.1
73.0
73.0
73.6
73.4
74.4
99.3
95.4
68.4
54.7
92.0
96.1
64.4
45.2
87.5
90.3
75.1
56.0
79.6
78.5
79.2
84.6
79.8
81.6
79.7
80.1
80.6
80.1
80.5
81.7
80.7
79.5
74.2
87.5
65.3
72.3
84.2
85.7
69.3
75.6
88.7
87.1
82.1
81.7
65.0
79.4
66.8
80.2
67.0
80.3
68.5
80.0
68.9
80.2
69.3
80.7
69.2
80.6
86.2
89.4
77.6
62.2
84.4
90.4
80.6
72.4
85.6
91.5
81.0
77.2
81.0
75.1
81.7
75.7
81.7
75.8
81.4
75.4
82.5
76.4
82.8
75.8
82.8
76.9
97.3
92.6
85.2
96.0
86.0
74.4
81.1
68.9
61.5
75.4
95.4
92.0
83.1
90.2
88.5
81.3
71.0
68.0
70.8
86.1
93.7
88.9
85.7
91.1
90.5
85.2
82.9
80.9
77.1
80.4
87.5
91.0
75.8
83.7
87.2
87.1
93.0
76.9
83.8
89.3
88.3
90.9
77.0
83.6
90.3
86.3
92.2
76.8
84.1
90.4
85.2
90.8
76.9
83.2
91.3
86.0
93.3
77.3
83.3
90.6
85.5
90.8
77.3
83.5
90.4
^0 Mining
21 Electric and gas utilities
93.6
96.4
87.6
82.8
94.0
88.2
78.6
77.7
85.8
92.8
83.5
84.2
87.3
84.0
88.3
83.3
88.2
86.2
88.4
83.7
88.2
83.6
88.6
87.3
87.5
87.9
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.5
89.1
74.1
81.0
74.3
70.1
72.0
71.6
71.4
71.8
71.6
72.7
23 Total excluding computers.
communications equipment.
and semiconductors
89.0
74.2
86.7
70.6
85.5
78.8
79.0
80.1
80.3
79.8
80.0
80.6
80.6
24 Manufacturing excluding computers.
communications
equipment, and semiconductors .
88.2
71.7
86.4
68.2
86.0
77.3
77.8
79.1
79.0
78.7
79.0
79.2
79.2
4
5
Durable manufacturing
Primary metal
6
7
8
14
Fabricated metal products . . . .
Machinery
Computer and electronic
products
Electrical equipment.
appliances, and
components
Motor vehicles and parts
Aerospace and
miscellaneous
transportation equipment .
Nondurable manufacturing
Food, beverage, and tobacco
products
Textile and product mills . . . .
15
16
17
18
19
Paper
Petroleum and coal products . .
Chemical
Plastics and rubber products ..
Other manufacturing (non-NAICS) .
9
10
11
12
13
NOTE. The statistics in the G.17 statistical release cover output, capacity, and capacity
utilization in the industrial sector, which the Federal Reserve defines as 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, on
the Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in December 2004.
The recent annual revision is described in the Winter 2005 issue of the Bulletin.
2. Monthly highs, 1978-80; monthly lows, 1982.
3. Monthly highs, 1988-89; monthly lows, 1990-91.
4. Capacity utilization is calculated as the ratio of the Federal Reserve's seasonally
adjusted index of industrial production to the corresponding index of capacity.
42
Federal Reserve Bulletin Statistical Supplement • August 2005
2.13
INDUSTRIAL PRODUCTION
Indexes and Gross Value1
Monthly data seasonally adjusted
Group
2002
proportion
2004
2005
2004
avg.
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.'
May1
June'
July'
Index (1997 = 100)
MAJOR MARKETS
100.0
1 Total IP
2
3
4
5
6
7
8
9
10
11
Market groups
Final products and nonindustrial supplies
Consumer goods
Durable
Automotive products
Home electronics
Appliances, furniture, carpeting
Miscellaneous goods
Nondurable
Non-energy
Foods and tobacco
13
14
Chemical products
Paper products
58.8
30.9
8.9
4.6
0.3
1.5
2.4
18.1
9.7
1.0
4.9
2.0
3 9
115.5
115.9
116.0
115.7
116.6
116.9
117.9
117.8
118.3
118.6
118.1
118.4
119.4
119.4
113.2
1 11.3
124.9
134.8
231.6
113.6
102.7
106.2
104.4
103.6
49.0
125.3
113.5
110.8
123.0
130.9
^13 7
113.7
104.1
106.1
104.7
104.1
48.1
125.4
109.4
113.3
113.6
111.4
125.4
135.3
->->5 ->
113.3
110.7
123.5
133.1
114.6
112.3
125.7
136.8
T ^ 5 ->
112.8
10^ 3
105.8
104.7
104.0
47.8
125.7
109.7
111.5
114.0
10^ 5
107.2
105.8
105.1
48.0
126.9
111.5
114.2
115.6
113.1
126.1
137.9
^10 1
114.7
10^ 5
108.2
106.2
105.2
47.4
127.5
113.5
118.1
115.5
112.4
124.3
134.3
"•17 0
113.9
10^ 7
107.8
106.7
105.5
47.1
127.5
115.9
113.4
116.1
113.3
128.1
141.1
^30 5
114.4
10^ 7
107.7
106.7
104.7
46.5
130.0
115.1
113.1
116.5
113.5
126.0
137.7
^0 6
115.3
101 8
108.7
106.9
104.7
45.9
130.4
116.1
117.7
116.2
112.4
123.9
134.8
^119
114.4
103 6
106.1
105.1
103.9
47.5
126.9
111.5
114.6
112.3
126.2
137.8
^34 9
113.3
10^ 4
107.0
105.9
104.9
47.6
128.3
110.5
112.7
101 8
108.0
106.7
104.4
46.2
130.3
116.5
114.4
116.9
113.3
124.8
136.4
^18 8
113.4
101.1
108.9
107.7
105.8
44.4
131.1
117.4
115.0
117.9
114.6
126.6
140.1
^
5
115.3
100.9
110.0
108.3
106.6
44.0
132.3
116.6
118.7
118.0
114.1
124.5
136.1
^03 7
114.6
100.9
110.0
108.2
106.6
44.4
132.3
116.0
118.6
109.3
114.7
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.3
1.9
3.0
5.3
1.8
119.2
89.9
174.8
99.6
121.9
90.7
176.7
103.0
112.8
120.7
90.5
177.7
100.7
112.7
121.1
90.7
179.3
100.9
113.5
122.7
93.5
180.8
101.8
113.8
122.1
92.8
182.3
100.7
114.5
123.7
94.0
185.3
101.9
115.1
125.2
95.6
188.6
102.6
115.6
125.4
97.2
189.9
101.9
117.4
125.6
95.7
191.1
102.4
118.2
126.9
97.1
192.8
103.3
120.9
128.2
97.9
196.3
104.0
121.4
128.5
98.8
197.9
103.6
122.6
130.1
99.0
202.0
104.9
124.5
21
22
Construction supplies
Business supplies
4.3
11.2
106.9
114.8
107.9
114.9
108.3
114.8
107.6
114.9
108.3
115.3
107.8
115.9
107.8
117.2
108.5
117.1
109.6
117.0
109.4
117.9
110.0
117.8
110.1
117.6
108.8
119.1
109.6
119.2
41.2
30 9
19.3
4.1
6.7
8.5
11.7
0.8
^ 8
4.5
10.3
118.7
P4 6
142.1
109.6
235.1
98.0
97.5
67.5
93 ^
104.3
99.3
119.2
P5 ^
142.6
106.5
239.6
98.7
98.2
67.7
94 3
105.2
99.6
119.3
P5 8
143.6
109.2
240.0
98.9
98.3
68.0
93 5
106.0
98.6
118.9
P5 5
143.3
108.5
241.5
98.3
97.8
67.6
94 ^
104.9
98.2
119.4
P6 4
144.8
110.7
243.9
98.9
98.1
67.1
93 3
105.1
97.6
120.1
P7 1
145.8
110.6
247.2
99.5
98.4
67.0
94.0
106.4
98.2
121.0
P7 5
146.2
110.9
250.4
99.1
98.8
67.1
94.4
107.1
100.1
120.8
P8 1
147.2
110.6
255.2
99.2
98.7
67.3
94.7
104.5
98.4
121.2
P8 ^
147.6
112.8
256.9
98.4
98.5
66.1
94.5
105.3
99.4
121.4
P8 1
147.4
110.7
258.0
98.6
98.7
65.4
96.1
105.0
100.1
120.5
P7 ^
146.5
108.5
261.2
97.2
97.8
64.9
94.0
104.2
99.2
120.4
P7 3
146.7
109.1
263.2
96.7
97.7
65.7
92.9
103.4
98.9
121.3
P7 6
147.2
112.8
264.3
95.6
97.7
65.4
94.0
103.7
101.0
121.3
127.9
147.9
110.7
268.5
96.2
97.6
65.8
93.3
103.4
100.3
94.9
92.6
103.4
114.8
103.7
115.6
103.7
115.4
103.4
115.1
104.2
115.8
104.4
116.2
105.2
117.1
104.9
117.1
105.3
117.3
105.6
117.9
105.0
117.5
105.3
117.9
106.1
118.7
106.0
118.9
23 Materials
25
26
27
28
29
30
31
32
Durable
Consumer parts
Equipment parts
Other
Nondurable
Textile
Paper
Chemical
SPECIAL AGGREGATES
34 Total excluding computers, communication
equipment, and semiconductors
35 Total excluding motor vehicles and parts
Gross value (billions of 2000 dollars, annual rates)
36 Final products and nonindustrial
supplies
37 Final products
39
Equipment total
40 Nonindustrial supplies
58.8
2,859.0 2,866.8
43.3
30 9
12.4
2,163.9 2,169.2 2,172.6 2,160.7 2,195.3 2,192.2 2,216.3 2,210.3 2,229.5 2,229.3 2,215.5 2,231.7 2,257.0 2,254.1
1 54^ 9 1 534 7 1 545 1 1 530 ^ 1 555 1 1 554 0 1 571 ^ 1 557 0 1 575 1 1 575 4 1 555 7 1 566 6 1 588 9 1 575 6
623.2
638.1
630.2
634.0
643.6
641.5
648.4
658.1
658.5
657.9
665.3
670.8
673.2
685.3
15.5
695.3
697.8
2,868.5 2,856.4
696.1
695.8
2,894.8
699.9
2,895.7
703.7
2,924.4 2,915.9
708.4
705.9
2,938.6
709.5
2,940.0 2,929.2 2,943.3 2,974.2
711.1
713.8
712.0
717.6
2,970.8
717.1
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2004
2005
2004
avg.
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.'
May1
June'
July'
Index (1997 = 100)
INDUSTRY GROUPS
41 Manufacturing
42
Manufacturing (NAICS)
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
Durable manufacturing
Wood products
Nonmetallic mineral
products
Primary metal
Fabricated metal products .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts . .
Aerospace and
miscellaneous
transportation
equipment
Furniture and related
products
Miscellaneous
Nondurable manufacturing . .
Food, beverage, and
tobacco products . . . .
Textile and product mills . .
Apparel and leather
Paper
Printing and support
Petroleum and coal
products
Chemical
Plastics and rubber
products
Other manufacturing
(non-NAICS)
65 Mining
66 Utilities
67
Electric
68
Natural gas
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors
70 Manufacturing excluding motor
vehicles and parts
83.8
79.0
117.2
118.1
117.8
118.7
118.3
119.0
117.7
118.6
119.0
120.0
119.1
120.0
119.7
120.6
120.2
120.9
120.6
121.5
120.5
121.3
120.3
121.0
120.7
121.4
121.2
122.0
121.4
122.2
321
43 7
1.5
133 0
104.6
133 7
106.3
134 4
104.7
134 1
102.8
135 7
106.2
135 9
104.2
136 8
104.1
137 3
105.4
138 4
101.8
137 9
101.9
137 7
101.0
138 4
102.3
139 0
100.1
1 39 5
100.9
327
331
332
333
2.3
^ 4
5.8
5.4
105.6
96.5
96.4
105.5
93 4
97.1
99.1
106.9
93 ^
97.6
96.6
106.4
94 ^
96.9
97.3
106.5
94 3
97.2
98.6
106.7
95 ^
97.0
98.7
108.8
93 1
97.2
99.0
108.0
93 ^
97.2
100.2
109.8
91 3
97.1
100.3
108.2
91 7
97.0
100.4
108.3
87 ^
97.1
101.5
108.1
85.7
97.2
102.6
108.2
83.0
97.1
103.0
107.9
84.8
97.6
103.9
334
80
^88 ^
-rg-r 9
^95 4
^98 0
301 0
303 5
308 0
316 ^
3^0 9
3^3 1
3^6 0
331.1
333.1
340.9
335
3361-3
i
7.4
94.4
124.5
95.4
120.5
96.3
124.5
96.1
123.1
94.9
127.4
95.3
126.7
97.1
128.2
95.9
126.0
94.0
131.4
94.5
127.3
94.2
125.3
95.0
125.7
94.7
128.8
94.7
125.8
3364-9
3.6
99.9
100.8
100.8
100.3
101.3
101.7
102.6
102.7
104.3
104.8
107.4
108.2
108.9
109.1
337
339
1.8
3.3
108.9
121.3
109.6
121.7
109.7
122.1
108.1
120.9
108.7
122.4
108.5
122.9
109.4
123.1
108.3
124.2
107.2
124.7
108.1
124.3
106.2
124.5
106.0
124.3
107.1
125.4
107.5
125.4
i
35.3
100.2
100.7
100.7
100.2
101.2
101.2
101.4
101.6
101.6
101.7
101.3
101.5
102.1
101.9
31 1,2
313,4
315,6
322
323
11.3
1.3
1.0
3.2
2.5
104.2
75.8
49.5
94.8
87.8
104.6
76.8
48.8
96.5
87.0
104.4
76.4
48.1
95.2
86.9
104.5
75.5
48.5
95.2
88.8
105.6
76.5
48.2
95.8
87.8
105.4
75.1
48.7
95.2
88.0
105.6
74.0
48.1
95.5
87.8
106.3
76.0
47.6
97.2
88.4
105.7
75.5
47.1
96.0
88.0
105.8
75.4
46.4
97.3
89.1
105.4
74.6
46.7
95.2
88.5
106.9
75.2
45.1
94.0
88.5
107.3
74.3
44.6
94.9
89.1
107.4
75.1
45.1
94.3
88.8
324
325
1.6
10.6
109.7
110.3
11 1.2
110.9
111.6
111.8
108.0
110.5
110.1
112.1
112.0
1 12.2
113.6
112.7
110.7
111.8
114.1
112.9
111.5
113.1
1 13.3
112.7
111.5
112.9
114.6
113.5
111.6
113.4
326
3.8
104.0
105.0
104.4
103.2
104.6
104.1
104.3
105.5
104.5
104.1
104.5
103.2
103.2
103.2
1133,5111
4.8
103.4
104.0
105.9
104.0
103.8
104.4
106.1
107.8
107.1
108.3
108.4
109.5
108.7
108.5
21
221 1,2
2211
2212
6.4
9.7
8.3
1.5
91.4
115.0
117.7
98.1
92.3
113.3
116.4
97.1
91.9
111.1
113.4
98.5
89.4
114.8
117.9
98.1
89.0
1 14.3
118.5
93.4
90.6
114.9
118.2
97.3
91.4
118.5
121.7
101.4
90.8
114.0
117.2
97.3
93.0
113.4
116.9
95.1
92.9
117.5
120.5
101.0
93.0
114.1
117.6
96.0
92.8
114.2
116.2
101.9
93.2
119.3
123.7
97.6
91.9
120.2
124.6
98.4
78.7
102.9
103.4
103.7
103.2
104.3
104.3
104.8
105.0
105.3
105.2
104.9
105.2
105.6
105.6
76.4
116.5
117.6
117.7
117.2
118.2
118.4
118.9
119.6
119.6
119.9
119.8
120.3
120.5
120.9
NOTE. The statistics in the G.17 statistical release cover output, capacity, and capacity
utilization in the industrial sector, which the Federal Reserve defines as 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 appear in the Board's G.17 (419) monthly statistical release, on the
Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in December 2004.
The recent annual revision is described in the Winter 2005 issue of the Bulletin.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • August 2005
3.10
U.S. INTERNATIONAL TRANSACTIONS
Summary
Millions of dollars; quarterly data seasonally adjusted except as noted1
Item credits or debits
1 Balance on current account
2
Balance on goods and services
3
Exports
4
Imports
5
Income, net
6
Investment, net
7
Direct
8
Portfolio
9
Compensation of employees
10
Unilateral current transfers, net
-475,211
-421,181
977,276
-1,398,457
10,016
15,453
-519,679
-668,074
-494,814
1,022,567
-1,517,381
-617,583
1,151,448
-1,769,031
46,304
30,439
36,234
Q4
Ql
-146,101
-138,852
-166,635
-152,042
-166,982
-157,465
285,099
290,370
-415,945
15,022
16,438
35,082
-18,644
-1,416
-22,271
^37,141
-447,835
-188,359
-169,221
298,887
-468,108
-195,052
-171,757
277,093
5,922
7,407
6,254
7,694
30,343
-22,649
3,236
307,689
^79,446
3,777
345
501
4,543
-3,681
0
697
0
5,331
0
1,713
3,763
-145
127,921
-91,687
-5,795
-80,930
29,080
-21,673
-1,485
-20,515
-1,440
-15,771
-1,405
-27,072
-90
1,345
-133
-149
-110
990
-183
-859,529
-356,133
-149,001
-102,383
-252,012
-296,424
-135,006
-41,010
-5,390
-30,181
-58,425
-137,943
-44,787
-13,490
-38,444
-41,222
-290,155
-97,263
-74,669
-18,226
-99,997
-70,560
62,253
-65,757
-34,808
-32,248
394,710
272,648
38,485
488
77,039
62,977
479
45
11,350
2,188
75,792
55,357
11,542
710
4,867
3,316
94,478
41,728
15,040
-158
32,054
5,814
24,730
15,240
12,760
147,401
112,586
11,424
-109
22,058
1,442
275,622
146,889
44,623
31,931
-1,800
45,476
8,503
227,898
42,116
3,887
60,424
8,754
81,678
31,039
178,436
42,164
14,752
-1,107
2,560
84,401
35,666
363,437
226,306
67,091
1,045,395
322,627
124,358
106,958
14,827
369,793
106,832
-3,214
-37,753
-1,648
85,126
^28
18,646
11,010
-372
^,044
-3,747
-297
-393
50,672
^55
19,856
5,718
14,138
601
1,494
-572
-290,691
-38,260
-49,403
-48,568
-154,460
-330,457
-9,574
-24,240
-156,064
22 Change in foreign official assets in United States (increase, +)
23
U.S. Treasury securities
24
Other U.S. government obligations
25
Other U.S. government liabilities2
26
Other U.S. liabilities reported by U.S. banks2
27
Other foreign official assets1
115,945
60,466
30,505
137
21,221
3,616
278,275
184,931
28 Change in foreign private assets in United States (increase, +)
29
U.S. bank-reported liabilities4
30
U.S. nonbank-reported liabilities
31
Foreign private purchases of U.S. Treasury securities, net
32
U.S. currency flows
33
Foreign purchases of other U.S. securities, net
34
Foreign direct investments in United States, net
678,398
96,410
95,932
610,768
96,675
99,676
100,403
21,513
283,299
80,841
104,380
16,640
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
-1,363
-23,742
-140,579
39,943
-517
48,643
5,275
3,826
-623
-173,073
-55,452
-15,532
-52,367
70,329
7,636
-98
5,182
31,288
-100
815
-158
-475
-2,632
-574
17 Change in U.S. private assets abroad (increase, - )
18 Bank-reported claims2
19
Nonbank-reported claims
20
U.S. purchase of foreign securities, net
21
U.S. direct investments abroad, net
Q3
-26,106
-64,046
12 Change in U.S. official reserve assets (increase, - )
13 Gold
14 Special drawing rights (SDRs)
15 Reserve position in International Monetary Fund
16 Foreign currencies
Q2
4,691
33,413
-28,722
-1,455
-22,374
51,834
121,842
-70,008
-5,530
-71,169
99,770
-84,317
-5,437
Change in U.S. government assets other than official
reserve assets, net (increase, - )
Ql
676
-12,977
63,649
91,458
61,096
15,710
5,313
158,238
31,622
24,927
-675
-17,281
2,519
201,348
-78,253
85,969
75,546
1,072
88,207
28,807
^,456
34,116
13,930
20,186
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
-3,681
1,523
557
1,122
429
697
5,331
115,808
278,792
147,510
76,994
75,082
94,636
25,405
41 Change in Organization of Petroleum Exporting Countries official
assets in United States (part of line 22)
1. Seasonal factors are not calculated for lines 1 1-16, 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 depositoiy institutions as well as some brokers
and dealers.
3.12
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.
U.S. RESERVE ASSETS
Millions of dollars, end of period
2004
Asset
^.001
^002
2005
2003
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July-
1 Total
68,654
79,006
85,938
86,824
81,366
80,168
78,942
79,526
77,742
76,594
74,620
2 Gold stock1
3 Special drawing rights2'1
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,045
10,774
11,043
12,166
11,043
12,638
11,045
13,582
11,042
13,342
11,042
11,727
11,041
11,564
11,041
11,610
11,041
11,385
11,041
1 1,243
11,041
11,206
17,854
28,981
21,979
33,818
22,535
39,722
19,479
42,718
15,247
41,735
15,336
42,063
15,276
41,061
15,422
41,452
15,406
39,910
15,274
39,036
13,438
38,935
NOTE. The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at www. federalreserve.gov/releases.
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 have also 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—$7 17 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.
Summary Statistics
3.13
45
FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS'
Millions of dollars, end of period
2004
Asset
2001
2002
2005
2003
Dec.
1 Deposits
Jan.
Feb.
Mar.
Apr.
May
June
July'
61
136
162
80
121
86
139
126
105
103
83
592,630
9,099
678,106
9,045
845,080
8,971
1,041,215
8,967
1,039,348
8,967
1,058,929
8,967
1,062,861
8,967
1,057,109
8,967
1,065,032
8,967
1,058,972
8,967
1,070,625
8,967
Held in custody
3 Earmarked gold1
NOTE. The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at www. federalreserve.gov/releases.
1. Excludes deposits and U.S. Treasury securities held for international and regional
organizations.
3.15
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.
SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2005
2004
Item
1 Total1
By type
2 Liabilities reported by banks in the United States2
3 U.S. Treasury bills and certificates3
U.S. Treasury bonds and notes
Nonmarketable4
5
By area
7 Europe1
8 Canada
9 Latin America and Caribbean
1 1 Africa
2002
2003
June"
Dec.
Mar.
Apr.
May
Junep
1,946,561'
1,946,873
1,161,907
1,445,526
1,665,335
1,780,503
1,909,050
1,902,723
1,940,250
144,646
190,444
189,824
212,032
234,553
248,862
234,553
248,862
270,405
245,197
254,562
235,843
286,353
230,105
280,592
228,961
288,225
205,170
569,891
2,769
254,157
719,302
2,613
321,755
844,444
1,569
335,907
910,456
1,569
385,063
986,454
1,630
405,364
990,374
1,661
420,283
1,004,281
1,671
417,840
1,011,086
1,682'
424,240
1,022,309
911
430,258
283,512
5,962
87,261
760 OP
9,355
15,835
306,272
5,112
72,869
1 034751
8,857
17,652
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; Venezuela, beginning December 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.
3.16
June"
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
340,412
334,000
7,631
6,578
104,911
98,106
1 ^01 70^ 1 ^96 6 ^
10,812
10,187
19,926
14,749
366,218
350,241
357,316
7,085
7,148
7,806
107,537
11 1,808
112,625
1 388 408 1 389 349 1 410 717
14,549
13,560
10,842
33,955
30,428
31,864
361,126
363,656
7,605
7,580
109,251'
112,782
1 4^1 051 1 41 1 195
14,596
14,552
32,743
36,919
6. Data in the two columns shown for this date reflect different benchmark bases for
foreigners' holdings of selected U.S. long-term securities. Figures in the first column are
comparable to those for earlier dates; figures in the second column are based in part on a
benchmark survey as of end-June 2004 and are comparable to those shown for the following
dates.
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 periodic benchmark surveys of foreign portfolio investment in the United
States.
Reported by Banks in the United States1
Millions of dollars, end of period
2004
Item
-•001
TOOT
2005
2003
June
Sept.
Dec.
Mar.
2
3
Deposits
Other liabilities
79,363
n.a.
n.a.
80,543
n.a.
n.a.
63,119
36,674
26,445
80,057
31,266
48,791
85,817
37,222
48,595
83,759'
38,757
45,002'
80,146'
41,312
38,834'
5
6
Deposits
Other claims
74,640
44,094
30,546
71,724
34,287
37,437
81,669
38,102
43,567
104,278
39,088
65,190
100,247
37,938
62,309
123,528
42,709
80,819
108,160'
43,257
64,903'
8
Deposits
17,631
n.a.
n.a.
35,923
n.a.
n.a.
21,365
5,064
16,301
21,510
9,948
11,562
25,930
7,688
18,242
31,705
8,514
23,191
32,030
11,835
20,195
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.
46
Federal Reserve Bulletin Statistical Supplement • August 2005
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States'
Millions of dollars, end of period
2005
2004
Item
2003
2002
2004
Dec.
Jan.
Feb.
Apr.
Mar.
May
Junep
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
1,985,588
2,315,606
2,804,848 2,804,848
2,723,261
2,767,354 2,743,936' 2,820,010' 2,862,031' 2,880,873
1 363 ^70 1 677 193 1 993 035 1 993 035 1 9^4 p o 1 96^ 358 1 9^7 916' 1 983 378' ^ 016 591' ^ 09^ 513
3
4
5
6
7
8
9
10
11
By type of liability
Deposits2
Other
Of which: repurchase agreements3
Banks' custody liabilities4
By type of liability
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments"
Of which: negotiable time
certificates of deposit held in custody
for foreigners
Of which: short-term agency securities7
Other
12 Nonmonetary international and regional organizations'*
13 Banks' own liabilities
14
Deposits2
15
Other
16 Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments"
19
Other
20 Official institutions9
22
23
Deposits2
Other
25
26
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments6
Other
">7
28 Banks10
30
31
32
Deposits2
Other
Banks' custody liabilities4
34
Other negotiable and readily
35
Other
175 ^31
246,623
190,134
622,318
85^ 803
824,390
460,191
638,413
933 904
1,059,131
647,140
811,813
933 904
1,059,131
647,140
811,813
9^7 746
996,424
575,183
799,091
933 993
1,028,365
598,852
804,996
236,796
258,797
318,203
318,203
311,160
306,324
309,737'
308,282'
307,345'
272,474
189,573
202,774
313,037
313,037
314,441
308,723
303,344
328,792
331,532
306,134
37,761
74,513
195,949
34,394
83,633
176,842
47,739
152,562
180,573
47,739
152,562
180,573
46,502
146,757
173,490
51,602
131,548
189,949
57,024
131,926
202,939'
51,864
147,238
199,558'
51,995
147,106
^06 563'
48,244
142,283
^09 75^
13,467
12,362
5,769
6,593
1,105
1,089
14,149
12,577
6,134
6,443
1,572
110
13,315
9,829
6,098
3,731
3,486
1,339
13,315
9,829
6,098
3,731
3,486
1,339
15,773
12,543
5,124
7,419
3,230
1,107
17,848
13,800
5,593
8,207
4,048
1,116
15,497
11,173
5,343
5,830
4,324
586
13,628
11,030
4,910
6,120
2,598
843
15,838
13,005
4,608
8,397
2,833
924
16,085
10,231
5,359
4,872
5,854
2,204
16
0
1,462
0
2,147
0
2,147
0
2,119
4
2,930
3,736
1,753
1,804
105
3,559
91
335,090
93,884
20,733
73,151
401,856
117,737
24,208
93,529
515,602
145,536
26,633
118,903
515,602
145,536
26,633
118,903
511,660
150,943
30,776
120,167
483,494
141,412
28,859
112,553
490,405
146,731
32,310
114,421
516,458
165,098
33,272
131,826
509,553
152,075
36,636
115,439
493,395
161,799
39,132
122,667
^41 ^06
190,444
^84 1 19
212,032
370 066
245,197
370 066
245,197
360 717
242,553
34^ 08^
235,530
343 674
235,843
351 360
230,105
357 478
228,961
331,596
205,170
50,698
64
69,638
2,449
123,163
1,706
123,163
1,706
117,463
701
105,908
644
107,460
371
120,781
474
127,654
863
121,888
4,538
993,112
948,457'
929,119'
884,498
1,043,418' 1,054,259' 1,068,134' 1,099,401
625,328
610,057
608,558
605,436
788,360
845,440'
836,632'
816,020'
T
1,31 1,267 1,380,639 1,482,637 1,482,637 1,445,704 1,473,251 1,445,709' 1,489,458' 1,521,154' 1,608,674
1 055 858 1 163 309 1 ^66 8 P 1 ^66 8 P 1 ^36 403 1 ^45 8^9 1 T 16 744' 1 ^57 051' 1 ^81 774' 1 384 089
799,627
753,968
743,208
698,328
752,726
749,352
755,537
755,537
706,536
56,020
584,462
527,806'
513,843'
518,416'
493,103
487,051
511,275
511,275
456,773
58,422
224,585
239,380'
232,407'
228,965'
227,422
209,301
215,825
215,825
217,330
255,409
^7 473
35 949'
^5 453
35 60^'
^5 947'
^3 804
^7 0^7
^7 0^7
18,267
25,916
57,605
171,888
49,311
149,752
52,381
136,417
52,381
136,417
53,125
132,372
54,306
147,663
54,214
148,804'
50,404
146,054'
51,769
152,009
40,948
156,164
325,764
^01 166
92,709
108,457
518,962
383 570
115,925
267,645
793,294
570,858
145,636
425,222
793,294
570,858
145,636
425,222
750,124
524,281
142,494
381,787
792,761
561,317
146,815
414,502
792,325'
553,268
148,517
404,751
800,466'
550,199'
147,729'
402,470
815,486'
569,737'
153,245'
416,492
762,719
536,394
148,994
387,400
P 4 598
19,347
135 39^
28,388
Tr-r 436
44,640
Tr-r 436
44,640
^ 5 843
43,696
^31 444
44,225
^39 057'
47,361
250,267'
41,385
245,749'
41,858
226,325
37,627
81,254
23,997
82,363
24,641
135,346
42,450
135,346
42,450
141,734
40,413
145,579
41,640
137,934
53,762'
155,854
53,028'
150,305
53,586'
139,739
48,959
941,416
1 P 5 35^
1 ^60 708 1 ^60 708 1 ^ 5 984 1 ^44 081 1 ^30 701' 1 ^59 7^1 1 ^77 419' 1 364 79^
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 States, 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 InterAmerican 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." Includes positions with affiliated banking offices also included in memo line (44) above.
11. As of February 2003, includes positions with affiliated non-banking offices also
included in memo line (44) above.
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.
36 Other foreigners''
38
39
40
41
42
43
Deposits2
Other
Banks' custodial liabilities
U.S. Treasury bills and certificates5
Other negotiable and readily
Other
MEMO
Bank-Reported Data
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
47
Reported by Banks in the United States'—Continued
Millions of dollars, end of period
Apr.
AREA OR COUNTRY
45 Total, all foreigners
1,985,588
2,315,606
2,804,848
2,804,848
2,723,261
2,767,354
2,743,936' 2,820,010' 2,862,031' 2,880,873
46 Foreign countries ..
1,972,121
2,301,457
2,791,533
2,791,533
2,707,488
2,749,506
2,728,439' 2,806,382' 2,846,193' 2,864,788
653,988
2,818
34,650
46,806
2,975
5,568
31,945
10,839
18,879
3,574
23,146
14,039
1,264
6,215
35,855
15,857
22,429
952
41,673
9,902
7,082
110,626
13,748
332,528
20,802
162
55,331
966,378
4,261
13,512
3,147
1,056
57,048
50,568
1,178
7,198
50,012
17,591
32,723
1,545
70,186
8,410
6,118
99,222
5,188
417,035
20,725
110
99,545
966,378
4,261
13,512
3,147
1,056
57,048
50,568
1,178
7,198
50,012
17,591
32,723
1,545
70,186
8,410
6,118
99,222
5,188
417,035
20,725
110
99,545
956,046
3,685
5,106
1,693
40,399
781,550
4,826
9,359
3,631
1,783
40,719
1,029,546
4,103
13,449
3,584
2,942
64,528
51,979
1,540
7,927
54,077
22,755
23,175
1,647
1,008,395' 1,056,855' 1,037,708'
5,208'
4,129
5,424'
15,627
14,017
13,986
3,107
3,927
2,750
1,030'
2,682
2,599'
60,427
57,129
59,246
52,499
60,440'
60,137'
1,886
1,048
1,972
8,522
8,010
7,996
57,458
53,264'
56,827'
23,440
24,215'
25,982'
18,671
26,076'
34,818'
1,917
2,346
2,490
82,050
75,814
73,980
8,291
6,777
8,778
1,944
5,591
5,910
100,903
83,002
90,717
4,552
4,873
3,662
461,697'
446,199'
474,182'
23,087
21,918'
20,583'
106
187
90
105,503
106,534'
104,726'
47 Europe
48 Austria
49
Belgium13
50
Denmark
51
Finland
52 France
53
Germany
54
Greece
55
Italy
56 Luxembourg13
57
Netherlands
58
Norway
59 Portugal
60
Russia
61
Spain
62
Sweden
63
Switzerland
64 Turkey
65
United Kingdom
66
Channel Islands and Isle of Man14
67
Yugoslavia15
68
Other Europe and other former U.S.S.R.1
9,536
4,647
132,895
12,131
185,970
47,594
301
65,283
14,193
4,207
2,666
63,491
47,970
2,025
7,950
51,383
20,535
27,001
3,337
70,222
10,580
5,979
91,210
6,985
404,183
20,939
91
97,414
76,440
10,113
5,184
119,481
3,705
436,818
20,858
100
105,141
1,036,464
4,104
15,875
1,877
1,766
49,074
52,123
1,424
7,900
51,423
17,462
20,734
2,093
85,022
9,359
3,948
105,915
6,787
477,591
25,587
103
96,297
27,323
35,590
32,949
32,949
32,382
34,458
32,786'
33,905'
37,724
31,357
70 Latin America
Argentina
71
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru
80
Uruguay
81
Venezuela
82
Other Latin America17
107,357
10,878
10,040
135,888
10,813
15,186
7,299
6,263
2,676
1,526
50,545
4,506
1,968
4,150
24,573
6,383
135,888
10,813
15,186
7,299
126,090
10,961
17,255
7,359
6,263
2,676
6,204
2,666
1,526
50,545
1,968
4,150
24,573
6,383
1,492
37,581
4,499
2,305
4,019
25,339
6,410
127,872
9,327
20,865
7,078
6,180
2,587
1,466
37,999
4,667
1,556
3,897
6,367
110,566
9,758
16,283
4,438
4,235
2,567
1,547
35,389
4,093
1,401
3,670
21,222
5,963
133,156
9,421
23,642
6,611
6,304
2,470
1,308
40,694
4,975
1,796
3,951
24,984
7,000
129,145'
9,221
19,726
8,318
6,059
2,654
1,361
38,870
4,382
2,484
4,079
24,754
7,237'
130,635
9,813
19,077
8,394
5,968
2,749
1,403
38,374
4,848
3,280
4,436
24,996
7,297
131,654
9,626
17,811
6,924
5,575
2,499
2,044
41,611
4,611
2,956
4,927
25,386
7,684
83 Caribbean
84
Bahamas
85
Bermuda
86
Cayman Islands'* . . .
87
Cuba
88 Jamaica
89
Netherlands Antilles
90 Trinidad and Tobago
91
Other Caribbean17 . .
837,666
163,543
24,674
630,446
969,986
153,554
38,964
739,204
8,689
1,253
27,557
,195,643
185,252
92,510
869,642
110
829
5,863
1,624
39,813
1,139,512
178,312
69,251
852,190
110
815
5,499
1,773
31,562
1,137,230
185,344
68,469
841,666
91
829
5,004
1,405
11,674
1,195,643
185,252
92,510
869,642
110
829
5,863
1,624
39,813
319,487
373,024
419,231
419,231
410,062
384,240
375,743'
409,178'
419,333'
393,270
15,483
18,693
13,236
26,808
49,557
14,534
14,373
52,761
26,488
42,576
11,151
5,903
11,211
165,846
12,421
2,949
11,355
38,247
38,323
52,761
26,488
42,576
11,151
5,903
36,486
27,454
38,700
14,312
5,706
12,469
152,006
14,451
2,514
12,150
40,988
27,004
36,036
23,796
37,790
14,521
2,864
10,991
151,463'
20,127
2,432
11,182
36,899
27,642
67,331
24,554
40,906
14,561
71,189
23,596
43,195
13,404
59,019
22,071
42,078
12,963
165,846
12,421
2,949
11,355
38,247
38,323
57,775
26,016
36,987
12,339
7,165
11,923
155,157
15,632
2,474
12,305
41,478
30,811
14,557
2,711
156
3,284
4
14,557
2,711
156
3,284
4
4,326
4,076
16,597
4,156
124
3,105
49
5,417
3,746
16,617
4,180
172
3,299
10
4,326
4,076
16,593
4,239
159
3,708
21
4,939
3,527
26,887
22,953
3,429
505
26,887
22,953
3,429
505
26,803
22,219
4,105
479
19,563
24,782'
21,767'
2,418
510
2,627
13,315
10,909
345
1,948
13,315
10,909
345
1,948
15,773
13,423
373
1,863
17,848
15,337
486
1,929
15,497
69 Canada . .
92 Asia
Ch
Mainland .
93
Taiwan . . .
94
Hong Kong
95
India
96
Indonesia . . .
97
Israel
98
99 Japan
100 Korea (South)
101 Philippines . .
102 Thailand . . . .
103 Middle Eastern oil-exporting countries19
104 Other
6,146
4,158
2,299
1,379
36,109
3,864
1,363
2,815
21,939
33,066
7,951
14,123
7,477
161,667
8,968
1,811
96
669
16,365
26,278
162,003
12,647
1,683
7,226
23,626
35,108
105 Africa
106 Egypt
107
Morocco
"
108 South Africa
109
Congo (formerly Zaire) .
Oil-exporting countries20
110
Other
12,251
13,828
2,655
306
2,336
376
1,114
3,715
18
3,498
3,885
1 12 Other countries . .
1 13 Australia
1 14 New Zealand21
115 All other
14,049
11,991
1,796
1
1
1
1
13,467
1 1,282
507
1,611
16 Nonmonetary international and regional organizations
17 International22
18 Latin American regional23
19 Other regional24
7,605
4,370
3,804
262
16,913
14,020
2,465
428
14,149
10,500
420
3,166
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.
4,506
25,520
6,730
776
4,515
1,785
34,564
16,635
1,136,960' 1,131,585' 1,174,829' 1,224,605
219,716
200,821'
184,513'
179,199'
60,317
62,147
56,358'
56,332'
905,869
870,755'
850,487'
857,002'
113
113
113
790
792
789
818
4,745
5,388
5,555
5,875
2,017
1,997
2,052
1,953
31,038
32,816
31,717'
35,668'
5,266
3,690
388
3,673
3,406
2,462
9,250
149,401'
19,422
2,302
10,971
38,333'
28,474
8,343
151,703'
18,279
2,229
13,986
40,423
29,580'
7,779
148,795
15,672
2,475
10,316
39,381
30,259
17,353
3,952
223
3,439
8
6,012
3,719
18,079
3,724
151
3,727
8
6,688
3,781
18,237
3,497
133
3,483
28,361'
23,843'
4,077
441
27,885
23,574'
3,510'
801
29,201
26,222
2,502
477
13,628
11,137
482
1,943
15,838
13,347
16,085
12,568
1,749
1,744
6
7,113
4,005
19. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
20. Comprises Algeria, Gabon, Libya, and 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."
48
Federal Reserve Bulletin Statistical Supplement • August 2005
3.18
BANKS' OWN CLAIMS ON FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States'
Millions of dollars, end of period
Area or country
Apr.
May
1 Total, all foreigners
1,185,445
1,322,363
1,668,476
1,668,476
1,654,444
1,711,238
1,609,821'
1,706,997'
1,714,130'
1,787,533
2 Foreign countries . .
1,181,768
1,317,292
1,662,720
1,662,720
1,649,887
1,705,675
1,603,954'
1,702,517'
1,708,447'
1,781,438
487,004
591,018
4,819
6,910
2,814
8,160
63,719
25,811
238
7,310
5,512
21,415
17,666
2,106
1,233
2,295
15,269
78,716
2,149
268,822
804,886
4,591
7,888
912
11,839
17,536
20,452
1,773
1,108
12,623
14,659
119,622
2,487
421,041
25,571
0
18,051
753,632'
5,027
12,155
409
12,553
83,570'
31,143'
88
18,211'
3,736
17,317
12,401
1,302'
1,162
14,770'
14,644
87,231
2,561
387,451
28,860
0
19,041
812,601'
5,180
17,239
646
9,989
93,339'
36,102'
102
810,347'
4,425
14,898
734
9,303
99,244'
28,114'
121
19,940'
4,119
15,800
15,664
1,533'
1,093
15,662'
11,967
110,289
2,713
388,146
28,414
0
19,844
406,227
847,990
4,531
13,378
855
10,721
94,056
29,739
121
19,675
3,818
18,523
25,171
1,482
959
12,132
13,083
116,874
2,935
436,291
26,878
0
17,610
783,226
4,831
6,857
698
9,720
94,159
25,888
116
16,129
6,638
17,982
22,080
1,697
1,025
13,218
15,127
104,535
2,649
395,998
24,962
0
18,917
823,512
28,506
0
19,995
26,723
0
12,955
804,886
4,591
7,888
912
11,839
90,006
25,835
94
16,904
5,866
22,101
25,516
1,576
1,089
8,451
17,027
114,166
2,542
403,995
26,878
0
17,610
60,521
52,140
51,081
51,081
49,991
48,164
47,290
47,039
50,447
50,206
Latin America
Argentina . .
Brazil
Chile
Colombia . .
Ecuador . . .
Guatemala .
Mexico
Panama
Peru
Uruguay
Venezuela
Other Latin America"
56,642
51,517
3,819
15,825
49,377
2,220
14,094
6,213
49,377
2,220
49,987
2,133
15,147
49,622
2,126
16,336
5,959
52,326
2,645
2,645
469
866
2,666
445
2,604
52,804
1,994
17,338
7,017
2,425
527
812
14,196
1,940
1,510
51,552
2,024
16,051
7,142
2,473
534
811
13,848
1,924
1,465
347
2,585
2,348
50,601
1,999
14,919
6,509
2,497
39 Caribbean
40
Bahamas
41
Bermuda
42
Cayman Islands7
43
Cuba
44
Jamaica
45
Netherlands Antilles . .
46
Trinidad and Tobago . .
47
Other Caribbean"
475,896
95,584
9,902
359,259
492,705
73,709
631,814'
90,815'
31,364'
496,224
0
668,127
108,194
6,690
Europe
Austria
Belgium2
Denmark
Finland
France
Germany
Greece
Italy
Luxembourg2
Netherlands
Norway
Portugal
Russia
Spain
Sweden
Switzerland
Turkey
United Kingdom
Channel Islands and Isle of Man1
Yugoslavia4
Other Europe and other former U.S.S.R.5
34
35
36
37
38
48 Asia
China
49
Mainland
50
Taiwan
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Thailand
59
Middle Eastern oil-exporting countries*
60
Other
3,603
6,044
1,109
8,518
47,705
22,481
477
3,753
3,407
23,133
13,885
2,226
877
5,371
15,889
126,958
176,953
17,457
6,783
15,419
5,250
2,614
457
892
15,658
1,915
1,411
255
3,254
2,734
43,099
0
6,094
2,026
404
469
866
13,439
1,939
1,529
403
2,844
2,716
781
13,583
1,844
1,370
465
2,911
2,395
90,006
25,835
94
16,904
5,866
22,101
25,516
1,576
1,089
8,451
17,027
114,166
2,542
403,995
14,094
6,213
13,439
1,939
1,529
403
2,844
2,716
2,800
450
827
13,445
1,968
1,441
362
2,733
2,408
3,567
786
13,285
1,635
1,258
342
2,439
2,345
7,627
8,342
9,414
93,551
119,562
142,638
142,638
150,343
142,542
146,153'
1,057
3,766
7,258
1,235
1,270
4,660
47,600
11,118
2,137
1,167
7,952
4,331
4,134
9,659
7,190
1,588
838
5,122
9,265
10,590
9,265
10,590
12,191
11,387
13,184
12,227
5,623
5,623
3,642
3,364
2,117
555
1,333
82,201
15,531
973
1,144
7,020
6,286
2,117
555
1,333
82,201
15,531
11,985
12,102
6,946
2,085
490
2,729
86,988
13,897
944
1,268
5,032
5,877
1,260
228
53
316
0
223
430
1,260
228
53
316
0
223
430
1,286
232
1,445
36
324
0
38
376
0
243
451
260
511
10,398
9,037
7,885
1,029
123
5,563
61 Africa
62
Egypt
63
Morocco
64
South Africa
65
Congo (formerly Zaire)
66
Oil-exporting countries9
67
Other
1,977
487
53
617
0
68 Other countries
69
Australia
70
New Zealand10
7 1 All other
6,177
5,566
569
42
8,897
8,037
819
41
10,398
9,709
82
82
9,712
9,038
601
73
72 Nonmonetary international and regional organizations"
3,677
5,071
5,756
5,756
4,557
TO
598
1,453
973
1,144
7,020
6,286
236
46
453
0
147
571
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."
607
9,709
607
2,117
525
4,732
84,064
12,633
854
1,332
4,259
4,806
260
336
497,201
0
398
5,891
695
8,901
7,627
1 1,395
1,693
989
6,782
8,113
666
2,665
628,762'
85,450'
4,912
62,059
657
3,899
16,222
22,016
1,359'
1,154
15,998'
14,418
113,234
2,521
2,188
6,629
665
605,342
22,635'
2,654
2,363
889
3,251
351
5,554
755
79,874
25,793
484,388
0
305
5,983
485
807
14,087
1,955
1,377
341
594,875'
85,035'
28,081'
465,679
0
391
5,701
684
9,304
475,290
0
631,353
96,860
31,005
487,437
0
274
5,697
2,018
17,134
6,501
603,080
80,202
33,301
475,290
0
351
5,554
755
14,889
391,524
0
377
603,080
80,202
33,301
6,273
4,623
12,639
2,500
9,139
90,810
29,772
127
15,409
30,226'
16,923
564
869
14,329
2,092
1,463
432
2,482
2,446
26,623
7,561
517,604
0
433
4,878
734
9,661
150,294'
153,549'
153,266
11,103
11,847
6,787
2,201
536
3,225
85,081'
15,841
899
2,416
5,230
5,128'
13,210
11,409
7,303
2,420
560
2,757
85,462'
13,603
806
2,982
6,540
6,497'
10,514
10,497
7,753
2,315
548
1,752
84,979
15,622
906
5,621
1,302
288
53
231
0
310
420
1,339
307
42
1,533
395
39
219
0
271
455
1,269
344
39
172
0
274
440
8,376
7,613
542
9,678
8,930
9,469
7,466
86
1,910
93
9,715
9,150
461
104
4,480
5,683
6,095
2,379
506
4,029
80,805'
15,681
829
1,316
5,177
6,656'
264
0
662
426
4,769
655
6,647
6,112
273
607
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."
1 1. Excludes the Bank for International Settlements, which is included in "Other Europe."
Bank-Reported Data
3.19
BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Payable in U.S. dollars
49
Reported by Banks in the United States'
Millions of dollars, end of period
2004
Type of claim
2002
2003
2005
2004
Dec.
Jan.
Feb.
1 654 444
79,548
1 187 147
387,749
1711 ^38
76,022
1 ^19 107
416,109
Mar.
Apr.
May'
June'
1 706 997'
84,010
1 ^08 036'
414,951'
1 714 130
73,477
1,218,709
421,944
1 787 533
81,751
1,304,864
400,918
1 Total claims reported by banks
1,409,095
1,603,404
1,980,261
1,980,261
1
1 185 445
52,198
970,357
162,890
1 3 ^ 363
57,897
980,099
284,367
1 668 476
77,385
1 19^ 4^7
398,664
1 668 476
77,385
1 19^ 4^7
398,664
223,650
80,269
281,041
135,939
72,196
63,107
9,799
311,785
131,607
89,313
76,951
13,914
311,785
131,607
89,313
76,951
13,914
500,085
376
632,635
3,970
632,635
3,970
636,297
3,741
653,661
4,381
621,763
4,243
654,870
4,711
643,279
4,313
700,467
4,668
Banks' own claims on foreigners
3
Foreign official institutions2
4
Foreign banks"1 4
5
Other foreigners
6 Claims on banks' domestic customers5
7
Non-negotiable deposits
8
Negotiable CDs
9
Other short-term negotiable instruments" . .
10 Other claims
137,289
6,092
1,942,582'
1 609 S° 1'
74,061
1 145 ")09r
390,551'
332,761
143,961
93,792
82,223
12,785
MEMO
1 1 Non-negotiable deposits7
12 Negotiable CDs7
13 Other short-term negotiable
instruments7
14 Other claims7
15 Own foreign offices'*
n.a.
892,340
5,328
816,574
934,166
4,758
1,027,113
1,116,919
4,758
1,027,113
1,116,919
6,452
1,007,954
1,112,860
6,084
1,047,112
1,130,987
5,910
977,905'
1,081,276
6,775
1,040,641'
1,131,197
8,331
1,058,207
1,139,536
6,949
1,075,449
1,229,564
16 Loans collateralized by repurchase
agreements9
161,585
344,753
473,671
473,671
466,685
498,555
469,947
505,293
513,122
515,403
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 depositoiy 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.
2. Prior to February 2003, reflects claims on all foreign public borrowers.
3. Includes positions with affiliated banking offices also included in memo line (15) above.
4. As of February 2003, includes positions with affiliated non-banking offices also included
in memo line (15) above.
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.
Effective February 2003, includes amounts due from affiliated foreign offices of U.S. brokers
and dealers.
9. Data available beginning January 2001.
50
Federal Reserve Bulletin Statistical Supplement • August 2005
3.22
LIABILITIES TO FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
2002
Sept.
By type
2 Financial liabilities
3
Short-term negotiable securities' . .
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
14 Financial liabilities to unaffiliated
foreigners
By area or country
15 Europe
16
Belgium-Luxembourg
17
France
18
Germany
19
Netherlands
20
Switzerland
21
United Kingdom
66,679
67,664
83,475
83,475
88,728
105,175
103,429
108,607
109,435
41,034
n.a.
39,561
n.a.
53,385
14,002
53,385
14,002
58,296
9,859
73,034
10,868
74,043
11,415
79,445
11,759
76,342
10,053
n.a.
n.a.
n.a.
n.a.
8,498
22,946
8,498
22,946
8,402
32,449
5,949
45,495
3,558
45,766
6,315
49,882
5,842
45,852
18,763
22,271
n.a.
n.a.
n.a.
n.a.
n.a.
18,844
20,717
n.a.
25,290
28,095
1,431
10,372
11,425
2,493
2,374
25,290
28,095
1,431
10,372
11,425
2,493
2,374
34,150
24,146
1,149
7,147
12,894
1,330
1,626
42,406
30,628
1,730
7,998
17,883
1,660
1,357
43,842
30,201
1,981
7,678
17,420
1,642
1,480
46,173
33,272
2,399
9,067
18,337
1,564
1,905
42,895
33,447
2,296
11,159
16,548
1,379
2,065
41,034
39,561
57,367
63,115
53,112
31,806
154
2,841
2,344
1,954
94
22,852
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
34,832
3,531
284
517
23,886
30,976
528
2,133
3,015
284
524
22,004
45,810
539
2,092
3,699
320
298
28,992
43,134
677
2,290
3,335
340
431
28,166
38,690
775
1,349
2,911
363
514
29,225
36,330
590
1,550
5,276
413
282
26,024
9,855
9,855
7,768
8,554
1,474
1,474
1,542
1,762
2,181
2,701
2,560
4,235
0
711
242
n.a.
3,114
34
4,235
0
711
242
n.a.
3,114
34
8,115
0
3,604
291
n.a.
3,910
28
0
6,093
0
2,300
200
n.a.
3,483
25
0
7,297
0
2,382
185
n.a.
4,591
24
16,196
0
8,715
208
n.a.
7,178
26
18
9,076
0
801
263
n.a.
7,871
30
4,347
1,365
709
3,543
MEMO:
Euro area3
955
7,049
24
25
26
27
28
29
30
31
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,858
157
960
35
1,627
n.a.
36
1,504
23
32
33
Asia
Japan
Middle Eastern oil-exporting countries5
5,042
3,269
10
2,932
1,832
14
2,547
1,826
36
2,547
1,826
36
4,519
1,431
29
4,487
1,612
24
4,589
1,664
30
4,724
1,648
36
35
36
Africa
Oil-exporting countries" . .
53
5
131
91
92
123
92
126
93
118
93
119
93
131
94
37
All other7
990
65
365
n.a.
634
95
667
Nonbank-Reported Data
3.22
LIABILITIES TO FOREIGNERS
the United States—Continued
51
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.
38 Commercial liabilities
39
Trade payables
40
Advance payments and other liabilities
25,645
11,781
13,864
28,103
14,699
13,404
30,090
17
13
30,090
17
By currency
' Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
24,162
1,483
n.a.
n.a.
n.a.
n.a.
n.a.
26,243
1,860
27,632
2,458
199
787
606
209
657
9,219
99
734
905
1,163
790
2,279
8,257
141
765
781
590
433
41
42
43
44
45
46
47
48
49
50
51
52
53
54
By area or country
Commercial liabilities
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
30,432
17
13
32,141
18
14
29,162
18
27,632
2,458
199
787
606
209
657
5,178
2,254
196
699
513
223
623
29,662
2,479
183
729
593
255
719
26,090
3,296
1,123
1,069
9,821
159
9,821
159
900
900
2,649
855
384
1,367
3,025
855
384
1,367
3,025
8,943
145
1,017
1,018
303
543
3,023
9,719
135
1,092
1,275
289
638
3,035
8,843
133
1,050
1,021
315
616
3,127
9,030
123
1,019
1,024
305
564
3,407
4,198
4,156
4,549
3,831
3,731
1,622
1,588
2,166
2,166
2,337
2,533
1,995
2,145
2,140
2,727
52
591
290
45
n.a.
899
166
3,073
51
538
253
3,406
3,406
4,388
14
513
233
4,317
35
4,276
32
4,895
647
226
1,298
329
n.a.
77
1,362
389
801
167
n.a.
32
1,755
481
1,925
477
515
113
n.a.
101
1,942
433
511
n.a.
1,170
177
14
513
233
n.a.
40
1,298
329
3,916
16
2,154
640
10,517
2,581
2,639
13,382
4,292
3,979
13,311
4,370
3,148
13,311
4,370
3,148
13,540
4,973
2,553
13,484
4,755
12,707
4,288
3,312
12,239
4,221
2,910
14,455
5,320
3,900
836
436
827
405
782
372
782
372
1,009
548
1,082
567
956
488
947
424
935
447
33,093
11
241
1,030
600
302
25,81 1
3,351
224
1,058
704
296
29,870
3,223
200
1,026
634
314
1,049
10,084
100
1,290
955
320
740
3,576
MEMO
55
56
Euro area1
Canada
57
58
59
60
61
62
63
64
65
66
67
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries'
68
Africa
69
70
Oil-exporting countries"
5,141
36
39
635
98
n.a.
29
66
97
n.a.
29
All other7
MEMO
71
Financial liabilities to foreign affiliates* . . .
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 intermediaries. These data are included in lines 1-6 above.
52
Federal Reserve Bulletin Statistical Supplement • August 2005
3.23
CLAIMS ON FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
1 Total
2
3
4
5
6
7
8
9
10
11
12
13
14
15
By type
Financial claims
Non-negotiable deposits
Negotiable securities
Of which:
Negotiable CDs'
Other claims
Of which:
Loans'
Repurchase agreements'
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling .
Japanese yen
All other currencies
16 Financial claims on unaffiliated
foreigners
By area or country
17 Europe
18
Belgium-Luxembourg
19
France
20
Germany
21
Netherlands
22
Switzerland
23
United Kingdom
81,287
29,801
51,486
102,566
165,934
165,934
176,473
188,537
192,347
197,739
200,499
71,389
27,064
44,325
132,332
35,920
132,332
35,920
142,632
45,415
2,502
154,096
42,974
5,468
160,552
50,314
7,595
164,981
47,883
9,892
167,203
52,316
11,912
3,211
n.a.
51,486
157
93,201
157
93,201
6
94,715
129
105,654
70
102,643
103
107,206
94
102,975
n.a.
n.a.
69,208
3,253
69,208
3,253
67,343
5,602
66,849
19,073
64,968
17,685
59,683
24,034
64,386
12,737
122,879
9,453
912
2,776
3,242
831
1,692
122,879
9,453
912
831
1,692
132,701
9,931
1,254
2,425
3,722
892
1,638
117,735
36,361
1,400
8,534
13,992
7,952
4,483
124,592
35,960
1,278
13,129
9,618
7,829
4,106
121,909
43,072
1,329
20,651
9,219
7,345
4,528
123,379
43,824
7,216
17,593
7,687
6,111
5,217
67,347
67,347
80,256
92,499
101,867
110,517
113,672
28,970
391
3,049
2,859
2,789
617
11,438
28,970
391
3,049
2,859
2,789
617
11,438
32,331
1,256
3,113
4,573
2,293
618
13,193
46,343
1,206
4,375
3,151
2,974
453
23,575
47,040
292
2,299
3,149
585
26,641
48,714
2,177
1,452
5,386
7,389
978
23,982
53,000
2,651
3,177
7,126
7,692
827
25,104
74,471
6,816
n.a.
n.a.
n.a.
n.a.
n.a.
65,070
6,319
n.a.
26,118
29,018
722
3,247
4,245
3,648
383
10,663
n.a.
625
1,450
1,068
2,138
589
16,510
2,776
3,242
3,620
MEMO:
24
25
17,281
Euro area1
Canada
26
27
28
29
30
31
32
33
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
34
35
36
Asia
Japan
Middle Eastern oil-exporting countries5
37
38
Africa
Oil-exporting countries"
39
All other7
17,830
25,235
6,193
5,013
5,311
5,311
5,278
4,533
5,825
6,412
11,361
41,201
29,612
1,038
724
2,286
21,528
n.a.
2,921
104
26,215
1,049
26,215
1,049
35,284
34,256
646
564
564
1,832
n.a.
20,015
1,629
131
1,034
1,967
n.a.
28,577
1,723
174
801
1,410
1,749
n.a.
27,613
1,706
135
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
39,893
1,899
1,832
n.a.
20,015
1,629
131
42,091
1,346
1,063
1,833
n.a.
35,188
1,527
139
5,358
1,277
79
5,317
1,194
158
5,317
1,194
158
5,650
978
138
5,976
1,011
121
5,633
1,604
135
1,050
138
6,840
993
137
7,680
981
414
49
395
25
419
12
419
12
238
8
258
3
306
8
290
16
976
918
2,127
32,965
n.a.
3,075
83
6,430
31,162
1,727
164
International Statistics
3.23
53
CLAIMS ON FOREIGNERS Reported by Nonbanking Business Enterprises in
the United States—Continued
Millions of dollars, end of period
2003
Type of claim, and area or country
40 Commercial claims
42
43
44
45
46
47
48
49
50
Advance payments and other claims
By currency
' Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial claims
Europe
52
France
54
55
56
Netherlands
Switzerland
United Kingdom
2001
2002
2004
2005
2003
Dec.
Mar.
June
Sept.
Dec.
Mar.
31,795
^7 513
4,282
31,177
26,385
4,792
33,602
28,651
4,951
33,602
28,651
4,951
33,841
28,623
5,218
34,441
29,915
4,526
31,795
27,357
4,438
32,758
29,272
3,486
33,296
28,750
4,546
29,393
2,402
n.a.
n.a.
n.a.
n.a.
n.a.
26,481
4,696
n.a.
n.a.
n.a.
n.a.
n.a.
25,527
8,075
1,557
1,542
1,187
589
3,200
25,527
8,075
1,557
1,542
1,187
589
3,200
26,165
7,676
1,518
1,255
1,299
478
3,126
27,411
7,030
649
1,196
1,204
598
3,383
27,919
3,876
446
1,026
1,169
191
1,044
27,482
5,276
512
1,561
1,586
238
1,379
28,492
4,804
499
1,577
1,111
239
1,378
14,022
268
2,921
1,658
529
611
3,833
14,187
269
3,164
1,202
1,490
503
3,727
14,576
247
2,816
1,284
397
1,921
3,928
14,576
247
2,816
1,284
397
1,921
3,928
14,332
209
2,740
1,494
421
1,248
3,964
13,557
238
2,603
1,528
345
1,257
3,907
13,010
298
2,582
1,336
396
1,218
3,819
13,483
257
2,261
1,419
494
1,528
3,750
14,015
369
2,897
1,539
489
1,477
3,517
MEMO
57
Euro area1
7,961
8,580
7,359
7,359
7,893
7,208
6,838
6,912
7,883
58
Canada
2,818
2,790
3,070
3,070
3,272
2,293
2,261
2,018
2,155
59
Latin America and Caribbean
4,859
42
369
954
95
n.a.
1,391
^88
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
n.a.
52
1,339
230
5,153
26
460
903
n.a.
52
1,339
230
5,516
35
739
1,002
n.a.
67
1,149
228
5,628
25
690
1,025
n.a.
66
1,244
252
6,141
58
766
905
n.a.
124
1,767
263
6,477
55
650
935
n.a.
160
2,018
319
6,521
42
591
1,052
n.a.
75
1,862
362
7,849
2,006
850
7,324
2,341
818
7,356
1,761
888
7,356
1,761
888
7,250
1,589
980
8,165
1,784
1,085
8,601
1,847
961
8,948
1,857
1,071
8,569
1,918
1,207
645
88
584
95
636
138
636
138
621
183
711
224
783
209
629
154
889
240
1 60^
1,946
2,811
2,811
2,850
4,087
999
1,203
1,147
n.a.
n.a.
64,985
64,985
62,376
61,597
58,685
54,464
53,531
61
6^
63
Bermuda
Brazil
British West Indies4
65
Mexico
68
69
Japan
Middle Eastern oil-exporting countries5
70
Africa
7^
All other7
MEMO
73
Financial claims on foreign affiliates*
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 claims on foreign affiliates of
insurance underwriting subsidiaries of bank/financial holding companies and other financial
intermediaries. These data are included in lines 1-8 above.
54
Federal Reserve Bulletin Statistical Supplement • August 2005
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.June
Apr.
U.S. corporate securities
1 Foreign purchases
2 Foreign sales . . . .
3,104,232
3,069,495
3,966,975
3,939,087
2,118,291
2,095,290
363,267
355,409
34,770
28,028
23,107
7,862
21,399
16,808
3,606
-6,072
^136
20,230
-874
-2,367
2,231
-1,179
15,331
-180
1,357
-687
6,481
-323
2,836
-41
1,011
2,421,579
1,999,960
1,385,669
1,848,932
3 Net purchases, or sales (-)
4 Foreign countries
5 Europe
6
France
7
Germany
8
Netherlands
9
Switzerland
10 United Kingdom
1 1 Channel Islands and Isle of Man1
12 Canada
13 Latin America and Caribbean ..
14 Middle East:
15 Other Asia
16 Japan
17 Africa
18 Other countries
327,975
314,684
376,568'
374,895'
13,287
2,885
l,800r
46
-2,120
684
91
11,659
-929
612
2,207
-2,224
258
2,259
-987
-319
-1,400
10,500
-80
-38
-605
659
2,989
225
97
-605
8,403
-613
-851
4,354
598
527
-A2
-4
-368
1,164,396
902,697
192,423
124,693
534,253
260,588
66,612
256,258
131,965
36,244
7,369
6,249
1,548
118
169
493
1,878
1,447
4,87 8r
134
123
9,124
2,316
118
-266
472
4,812
2,900
-994
-499
595'
3,159'
147
29'
182'
-244
1,613'
43
-1,027
1,660
-775
165
-712
-1,074
-108
-97
490
732
259
-10
-66'
2,057
236
-549
-526
183
1,582
-110
407
-4,221
-71
2,020
644
-1
-57
179,607'
154,737'
180,288
137,214
225,659
154,560
6
-685
3,375
464
1,031
334
71
352,208
352,095
4,908r
13,291
6,208
-3,782
384,212'
379,304'
346,206
346,099
331,122
328,213
157
-12
2,851
50
320
-537
220
91
382
-1,106
689'
-31'
-1,087
716'
39
-12'
1,453'
93'
560'
1,318'
9'
-95'
-341
-7
-93
-131
-317
-784
58'
-70'
177,998
133,383
196,466
148,345
204,378'
174,458'
44,626
47,820
29,703'
24,698'
42,965
70,776
14,340
-806
2,303
237
27,719
1,000
1,437
298
22,746'
10,171
1,588
1,331
201
412
15,366
1,149'
1,284
224'
2,633
-654
17,574
-189
4,154
438
886
2,028
-31
9,346
390
14,917
7,411
55
714
39,415
2,023
1,340
476
747
25,495
2,968
2,979
1,934
904
24,530
9,140
-14
1,028
T)
-46
-188
19 Nonmonetary international and
regional organizations
20 Foreign purchases
21 Foreign sales
23 Foreign countries
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East:
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
44,615
536,737
22 Net purchases, or sales (-)
211,786
4,790
2,293
7,263
9,911
1,794
12,124
1,929
6,972
133,875
19,772
4,071
94,041
3,281
106,370
160,243
32,290
77,905
1,663
51
512
1,998
6,477
12,095
106,843
4,702
151,845
726
960
-296
-977
81,214
7,132
6,786
42,783
2,017
73,724
27,424
48
25,486
745
1,958
13,918
-72
14,901
10,597
75
-412
8,502
20,218
-251
1,045
3,265
693
935
14,608
55
14,620
6,046
33
35
71,099
24,870'
5,367
423
11,837
151
55
1,374
260
5,241
1,428
-91
39
144
-46
6,968
545
574
1 1,304'
-15
2,579
3,248
10
75
4,665
1,118
2,484
Foreign securities
-88,587
1,304,564
1,393,151
19,152
1,460,357
1,441,205
-83,591
1,663,966
1,747,557
-29,001
1,456,617
1,485,618
-50,904
970,495
1,021,399
-9,698
772,393
782,091
-14,088
143,565
157,653
-6,650
118,719
125,369
45 Net purchases, or sales (-), of stocks and bonds . .
-69,435
-112,592
-60,602
-20,738
519
46 Foreign countries
-68,941
-111,737
-56,801
-20,477
649
47
48
49
50
51
52
53
-15,264
-114,237
-1,321
14,418
-7,592
-47,254
2,955
-9,563
-834
-3,785
-5,740
-2,596
-57
^198
-2,294
805
1,076
1,145
269
115
-198
39 Stocks, net purchases, or sales (-)
40
Foreign purchases
41
Foreign sales
42 Bonds, net purchases, or sales (-)
43
Foreign purchases
44
Foreign sales
Europe
Canada
Latin America and Caribbean
Asia
Japan
Africa
Other countries
6,263
-1,762
-56,918
-37,295
227
-1,487
-20,640
1,591
-4,596
54 Nonmonetary international and
regional organizations
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).
-633
-4,833
-2,599
-310
-6,726
-3,801
-5,032
134,252
139,284
5,551
116,885
1 11,334
-14,484
193,370
207,854
-3,630
135,311
138,941
-1,680
169,942
171,622
-4,613
116,792
121,405
-4,729
159,220
163,949
-10,202
128,622
138,824
-9,636
161,249
170,885
1,760
145,613
143,853
-13,907
-18,114
-6,293
-14,931
-7,876
-13,970
-18,020
-5,820
-11,891
-7,749
-6,708
636
-2,631
-4,235
-3,199
-107
-925
-12,647
363
-1,616
-3,377
-2,808
80
-823
-4,941
78
-558
850
1,550
-39
-1,210
-9,411
-11,253
1,437
2,399
556
1,404
-206
-682
-15,343
152,462
167,805
1,436
129,170
127,734
-364
697
228
185
-153
-2,888
-3,040
3. Includes state and local government securities and securities of U.S. government
agencies and corporations. Also includes issues of new debt securities sold abroad by U.S.
corporations organized to finance direct investments abroad.
Securities Holdings and Transactions
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
55
Foreign Transactions'
Millions of dollars; net purchases, or sales (-), during period
Area or country
1 Total estimated
4
6
8
Belgiunr
2
Luxembourg
Sweden
10
11
12
13
United Kingdom
Channel Islands and Isle of Man1
Other Europe and former U.S.S.R
Canada
14
15
16
17
18
Latin America and Caribbean
Venezuela
Other Latin America and Caribbean
Netherlands Antilles
Asia
20
^1
Africa
Other
22 Nonmonetary international and regional organizations
23
International
24 Latin American Caribbean regional
2003
2005
2005
2004
Jan.June
Dec.
Jan.
Feb.
Mar.
Apr.
May
2004
June'
265,519
352,028
161,219
8,354
30,741
42,505
27,789
24,690
27,575
7,919
^65 46^
351 309
159,593
8,528
30 ^74
4^ 8^1
^7 7^8
^3 933
^7 6^3
7,214
50,592
1,809
10,895
881
434
434
4,888
34,892
1,256
-4,897
10,438
88,394
118
8,804
-575
3 153
3,236
5,342
78,661
1,175
-5,214
16,098
68,698
-626
9,649
730
3 766
2,359
-1,301
42,440
-277
19,490
11,794
9,036
236
141
-1,120
1,095
1,149
812
1 1,293
33
-4,603
1,108
7,137
^,838
-907
2,745
-547
998
662
158
10,482
1,749
-20,178
593
20,751
164
4,263
1,293
-1,039
-96
-749
3,384
-159
13,690
4,012
20,235
97
515
-298
-1,302
994
-1,832
7,581
-62
14,542
-1,410
9,935
3,541
436
-1,602
-1,129
87
-1,557
264
7,095
2,478
15,478
16
-942
534
-444
570
2,277
10,464
361
2,642
3,135
^73
-688
-377
1,358
-1,242
12,086
-2,430
1,699
2,986
17,116
293
8,860
7,963
181,097
146,521
-56
6,275
33,544
-15
21,963
11,596
214,774
166,377
677
-2,178
55,687
-17
55,671
33
25,385
-6,475
48
-2,019
-8,171
-47
-8,700
576
6,244
1,482
283
28
29,832
-51
29,937
-54
-8,681
-5,561
-217
-275
8,811
-18
8,152
677
15,002
2,345
497
-102
26,733
76
25,968
689
4,555
-1,815
741
-56
-3,910
-35
-4,246
371
3,865
7,017
-190
-595
5,389
-20
6,487
-1,078
3,493
-1,740
-149
65
-11,168
31
-10,627
-572
7,151
-6,721
-634
-1,056
57
337
-53
719
-26
1,626
1,308
-21
-174
-517
0
467
452
-14
-316
-282
-4
61
80
-4
757
283
9
-48
38
-8
705
737
0
^65 46^
103,838
161,624
351 309
201,140
150,169
159,593
35,855
123,738
8,528
6,976
1,552
30 ^74
7,630
22,644
4^ 8^1
11,273
31,548
^7 7^8
-14,983
42,711
^3 933
13,907
10,026
^7 6^3
6,805
20,818
7,214
1 1,223
-4,009
-6,645
52
9,041
249
-2,107
-296
510
250
-699
-204
713
249
387
710
-1,400
-190
-1,105
-149
-3
-712
T
T
MEMO
26
27
Official institutions
Other foreign
Oil-exporting countries
28 Middle East4
^9 Africa5
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.
56
Federal Reserve Bulletin Statistical Supplement • August 2005
3.28
FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE VALUE OF THE U.S. DOLLAR1
Currency units per U.S. dollar except as noted
2005
Apr.
May
77.38
2.5760
1.2359
8.2765
5.7554
1.2943
7.7984
43.64
107.19
3.8000
11.112
72.09
6.3147
1.6511
6.1469
1,010.07
99.671
7.0814
1.1954
31.480
39.521
189.61
2,144.60
76.63
2.4554
1.2555
8.2765
5.8628
1.2697
7.7914
43.41
106.60
3.8000
10.976
71.91
6.3656
1.6507
6.3267
1,001.84
99.791
7.2382
1.2172
31.265
39.801
185.59
2,144.60
76.67
2.4148
1.2402
8.2765
6.1247
1.2155
7.7755
43.52
108.75
3.8000
10.820
70.83
6.4936
1.6723
6.7396
1,012.46
99.946
7.6229
1.2665
31.347
40.917
181.77
2,144.60
110.44
83.34
111.62
84.95
97.83
89.64
99.00
91.41
Exchange rates
COUNTRY/CURRENCY UNIT
1 Australia/dollar2
2 Brazil/real
3 Canada/dollar
4 China, RR./yuan
5 Denmark/krone
6 European Monetary Union/euro3
7 Hong Kong/dollar
8 India/rupee
9 Japan/yen
10 Malaysia/ringgit
1 1 Mexico/peso
12 New Zealand/dollar2
13 Norway/krone
14 Singapore/dollar
15 South Africa/rand
16 South Korea/won
17 Sri Lanka/rupee
18 Sweden/krona
19 Switzerland/franc
20 Taiwan/dollar
21 Thailand/baht
22 United Kingdom/pound2
23 Venezuela/bolivar
54.37
2.9213
1.5704
8.277 1
7.8862
0.9454
7.7996
48.63
125.22
3.8000
9.663
46.45
7.9839
1.7908
10.5176
1,250.31
95.773
9.7233
1.5567
34.536
43.019
150.25
1,161.19
65.24
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
58.22
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
163.47
1,613.43
73.65
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
66.43
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
183.30
1,886.13
76.68
2.6895
1.2248
8.2765
5.6699
1.3123
7.7948
43.62
103.34
3.8000
1 1.263
70.65
6.2672
1.6377
5.9587
1,037.98
98.929
6.8991
1.1792
31.847
38.739
187.97
1,915.20
78.12
2.597 1
1.2401
8.2765
5.7195
1.3013
7.7994
43.58
104.94
3.8000
11.137
71.55
6.3960
1.6381
6.0001
1,023.11
99.273
6.9800
1.1918
31.498
38.446
188.71
1,915.20
78.48
2.7061
1.2160
8.2765
5.6488
1.3185
7.7994
43.59
105.25
3.8000
11.155
73.00
6.2116
1.6308
6.0328
1,007.78
99.390
6.8954
1.1756
31.106
38.594
190.43
2,124.65
Indexes4
NOMINAL
24 Broad (January 1997 = 100)5
25 Major currencies (March 1973=100)"
26 Other important trading partners (January
126.66
105.98
119.08
93.00
113.55
85.36
109.35
81.06
109.59
81.81
108.93
80.89
111.20
110.57
104.46
97.56
99.82
90.60
96.16
86.59
96.31
87.68
96.21
86.93
1997=100)7
REAL
27 Broad (March 1973=100)5
28 Major currencies (March 1973=100)" . . .
29 Other important trading partners (March
1973=100)7
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, available at
www.federalreserve.gov/releases.
2. U.S. cents per currency unit.
3. The euro is reported in place of the individual euro area currencies. By convention, the
rate is reported in U.S. dollars per euro. The bilateral currency rates can be derived from the
euro rate by using the fixed conversion rates (in currencies per euro) as shown below:
Euro equals
13.7603
40.3399
5.94573
6.55957
1.95583
.787564
Austrian schillings
Belgian francs
Finnish markkas
French francs
German marks
Irish pounds
1,936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
97.57
88.70
4. Starting with the January 2004 Statistical Supplement to the Federal Reserve 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 U.S. trading partners. The weight for each currency is computed as an
average of U.S. bilateral import shares from and export shares to the issuing country and of a
measure of the importance to U.S. exporters of that country's trade in third country markets.
The source for exchange rates not listed in the table above but used in the calculation of this
index is Reuters Limited.
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. The source for exchange rates not listed in the table above
but used in the calculation of this index is Reuters Limited.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title and Date
Issue
Page
Reference
Assets and liabilities of commercial banks
June 30, 2004
September 30,2004
December 31,2004
March 31,2005
November
February
March
June
2004
2005
2005
2005
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks
August 2004
November 2004
February 2005
May 2005
November
February
May
August
2004
2005
2005
2005
60
60
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks
June 30, 2004
September 30.2004
December 31,2004
March 31,2005
November
February
May
August
2004
2005
2005
2005
66
66
64
64
Supplement
Supplement
Supplement
Supplement
August2001
October2001
January 2002
A76
A64
A64
Bulletin
Bulletin
Bulletin
Residential lending reported under the Home Mortgage Disclosure Act
1989-2001
1990-2002
1991-2003
September 2002
September 2003
September 2004
A58
A58
58
Bulletin
Bulletin
Supplement
Disposition of applications for private mortgage insurance
1998-2001
1999-2002
2000-2003
September 2002
September 2003
September 2004
A67
A67
67
Bulletin
Bulletin
Supplement
Small loans to businesses and farms
1996-2001
1996-2002
1997-2003
September 2002
September 2003
September 2004
A70
A70
70
Bulletin
Bulletin
Supplement
Community development lending reported under the Community Reinvestment Act
2001
'
'
2002
2003
September 2002
September 2003
September 2004
A73
A73
73
Bulletin
Bulletin
Supplement
Pro forma financial statements for Federal Reserve priced services*
March 31,2001
June 30,2001
September 30, 2001
*The pro forma financial statements for Federal Reserve priced services are no longer published in the Bulletin after the January 2002 issue.
The statements are in the Board's yearly Annual Report to the Congress (www.federalreserve.gov/boarddocs/rptcongress).
58
Federal Reserve Bulletin Statistical Supplement • August 2005
4.23
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, May 2-6, 2005
A. Commercial and industrial loans made by all commercial banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
1 All commercial and industrial
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
4.83
4.07
4.04
4.92
5.27
70,178
2,015
11,166
27,607
19,744
396
497
1,012
408
347
By malurily/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other
5.98
5.47
4.87
6.12
6.54
19,108
225
1,546
8,276
4,770
1 1 Daily
12 Minimal risk . .
13 Low risk
14 Moderate risk .
15 Other
3.93
4.07
3.74
3.95
4.03
16 2 to 30 days
17
Minimal risk . .
18 Low risk
19 Moderate risk .
20
Other
Maturity/repricing
interval2 and
risk of loans1
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Percent made
under
commitment
Average
months since
loan terms
33.2
18.7
17.6
32.6
38.0
79.3
91.0
85.9
80.6
75.5
12.0
8.6
16.0
11.5
75.4
40.0
44.7
76.7
77.7
92.2
91.9
96.4
93.5
89.9
9.9
4.0
12.1
10.2
11.1
8.6
34.3
6.4
9.0
6.2
65.2
83.4
76.9
69.8
55.8
13.5
3.4
26.4
9.3
10.3
26.6
11.2
13.6
23.7
37.9
79.1
91.1
92.4
75.7
78.9
11.4
1.3
8.9
15.6
10.2
20.6
7.4
85.6
95.2
91.0
16.5
19.3
6.9
14.1
24.7
28.0
8.9
76.2
23.4
41.9
78.0
91.9
90.9
70.5
83.5
9.5
6.3
4.0
9.1
15.5
70.3
70.5
34.7
13.7
86.3
92.4
84.8
68.8
7.8
9.8
12.3
13.4
Secured by
collateral
Subject to
prepayment
penalty
531
604
384
637
439
41.9
45.5
16.5
43.4
51.2
24.3
2.1
37.0
19.8
22.0
200
204
377
229
154
1174
611
1023
734
62.8
40.8
50.1
61.3
74.9
8.9
11.8
3.7
22,689
568
4,908
8,556
6,646
1,171
781
2,318
1,070
1,069
187
126
279
248
43
11.8
32.4
3.8
16.3
11.6
4.64
3.79
3.83
4.57
5.29
13,824
257
3,013
4,945
4,523
522
937
1,988
553
350
373
667
342
334
374
48.9
20.8
1 1.3
56.9
66.3
28.0
39.5
26.4
21 31 to 365 days ..
22
Minimal risk . .
23 Low risk
24
Moderate risk .
25
Other
5.00
3.83
4.79
4.87
5.64
9,352
659
451
461
588
432
772
625
737
460
628
654
51.7
44.5
21.5
53.3
69.6
18.4
1.9
12.3
19.9
19.2
29.5
5.7
43.4
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
5.45
3.90
6.35
5.01
6.41
4,189
164
236
46
51
50
51.5
93.0
34.9
32.9
79.0
.7
24.2
19.1
85.3
72.1
44.5
23.4
7.3
10.4
20.8
34.3
Days
Commitment status
LOAN RISK
1,256
3,789
2,777
321
340
209
368
405
Weightedaverage risk
rating3
36.7
1.4
59.8
Weightedaverage
maturity/
repricing
interval2
Days
SIZE OF LOAN
(thousands of dollars)
31 1-99
32 100-999
33 1,000-9,999
34 10,000 or more . . .
6.54
5.96
5.01
4.07
3,254
11,57 1
25,199
30,154
3.4
3.3
148
115
116
74
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
6.16
4.17
23,314
46,864
79
110
65.3
30.2
8.0
32.4
190
857
92.8
72.5
Financial Markets
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
59
Survey of Loans Made, May 2-6, 2005—Continued
B. Commercial and industrial loans made by all domestic banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
5.33
4.17
4.22
5.39
6.12
44,066
6,174
18,466
11,216
257
253
616
283
205
By maturity/rephcing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other
5.96
4.83
4.84
6.13
6.50
18,544
136
1,516
8,006
4,595
1 1 Daily
12 Minimal risk . .
13 Low risk
14 Moderate risk .
15 Other
4.44
5.01
3.86
4.38
5.57
6,981
195
2,258
3,378
16 2 to 30 days
17
Minimal risk . .
18 Low risk
19 Moderate risk .
20
Other
5.18
4.34
4.07
5.21
5.79
7,425
39
21 31 to 365 days . .
22
Minimal risk . .
23 Low risk
24
Moderate risk .
25
Other
5.11
3.63
4.70
4.87
5.86
6,151
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
5.44
3.90
6.38
5.01
6.47
4,082
164
224
1,998
861
Maturity/repricing
interval2 and
risk of loans1
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
set"
49.7
37.4
25.3
46.3
63.2
87.7
92.9
89.8
85.1
91.0
14.1
17.6
23.4
9.0
14.8
12.0
3.8
2.8
75.8
66.2
44.8
76.7
77.9
92.0
86.5
96.3
93.3
89.5
9.7
6.3
12.2
9.8
11.0
34.1
78.2
8.4
34.9
74.6
32.4
4.1
74.8
16.4
1.3
23.7
99.9
14.0
18.7
36.5
74.9
98.9
84.3
64.5
27.2
8.3
44.0
19.9
15.3
619
587
539
610
622
67.1
29.7
26.1
62.7
90.6
9.1
.1
9.6
5.0
10.2
46.6
18.3
21.8
45.6
60.2
93.4
96.5
94.5
95.9
96.7
12.2
5.3
15.9
11.9
11.9
565
313
331
667
564
63.4
70.7
37.1
54.9
84.8
19.6
15.0
4.0
23.5
11.4
17.0
6.7
53.4
86.9
92.0
83.0
87.5
90.7
21.0
32.3
9.4
15.2
32.6
48
51
48
51.7
93.0
31.3
32.9
84.0
.7
24.2
13.9
27.6
8.9
74.9
23.4
42.8
79.0
91.9
90.3
70.5
89.0
9.6
6.3
3.0
9.1
16.2
85.5
75.8
58.9
39.1
11.7
22.9
70.4
73.3
48.5
86.2
92.6
90.7
80.9
7.8
9.8
14.2
19.3
92.5
83.0
10.8
17.7
Secured by
collateral
Subject to
prepayment
penalty
760
500
530
909
693
58.7
74.3
29.0
52.7
81.5
14.0
3.9
34.8
10.0
5.6
196
127
379
225
150
793
690
595
1,028
702
63.0
67.6
49.8
61.1
75.2
401
313
1,155
464
172
528
357
445
649
335
301
215
1,221
295
225
319
299
358
310
642
Days
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
939
952
1,306
2,459
2,804
397
663
2,582
1,931
314
340
199
368
367
Weightedaverage risk
Weightedaverage
maturity/
repricing
interval2
SIZE OF LOAN
(thousands of dollars)
31 1-99
32 100-999
33 1,000-9,999 . . .
34 10,000 or more .
6.55
6.02
5.37
4.48
3,224
10,680
16,290
13,872
3.2
2.9
149
123
165
146
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
6.16
4.51
21,920
22,146
3.4
2.9
79
217
67.9
49.6
7.6
20.4
181
441
60
Federal Reserve Bulletin Statistical Supplement • August 2005
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
Survey of Loans Made, May 2-6, 2005—Continued
C. Commercial and industrial loans made by large domestic banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
1 All commercial and industrial
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
5.14
3.68
3.99
5.17
6.01
38,146
722
5,519
15,830
1,037
1,292
538
9,700
266
By malurily/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other
4.47
4.60
6.04
6.42
1,309
6,559
4,034
728
383
215
1 1 Daily
12 Minimal risk . .
13 Low risk
14 Moderate risk .
15 Other
4.28
4.31
3.81
4.22
5.48
6,497
110
16 2 to 30 days
17
Minimal risk . .
18 Low risk
19 Moderate risk .
20
Other
5.01
4.17
4.03
5.03
5.61
21 31 to 365 days ..
22
Minimal risk . .
23 Low risk
24
Moderate risk .
25
Other
4.83
3.35
4.35
4.56
5.71
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
5.00
3.37
5.09
4.62
6.55
Maturity/repricing
interval2 and
risk of loans1
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
46.9
29.7
21.8
42.2
60.9
88.2
97.3
89.4
85.3
91.4
15.4
21.5
25.6
10.1
20.3
13.7
3.8
3.0
74.5
59.7
41.0
74.9
75.5
92.5
84.0
96.6
94.9
9.9
8.0
34.8
7.3
76.0
17.5
1.1
18.4
99.9
12.6
13.2
32.2
73.6
98.1
84.1
62.8
82.0
29.4
14.8
44.8
21.6
16.0
10.0
.1
11.2
42.2
18.5
21.7
40.7
54.4
93.3
100.0
94.6
95.9
96.9
13.5
6.4
16.2
13.3
13.2
25.6
16.4
4.5
11.6
21.3
4.4
51.0
88.6
99.7
80.3
24.0
33.8
12.1
17.0
35.8
Secured by
collateral
Subject to
prepayment
penalty
738
453
520
54.5
77.2
24.5
46.7
80.0
15.8
5.0
38.6
11.0
6.1
806
589
638
1,037
740
59.6
58.1
46.1
55.7
74.7
30.2
94.7
7.0
760
199
509
270
447
666
120
6,512
25
1,259
2,171
2,411
347
241
1,321
396
230
674
446
544
653
695
63.8
36.0
24.7
57.9
89.2
5,156
1,558
2,399
1,566
1,940
1,434
401
708
553
58.3
70.8
14.4
50.2
82.9
40
29
40
41
35
42.5
100.0
49.9
20.3
78.5
2.5
26.6
18.8
27.7
20.2
56.1
82.5
99.6
83.6
71.7
93.5
11.9
7.0
12.6
10.4
21.6
86.0
72.0
56.1
38.4
10.2
9.7
12.8
23.1
72.9
74.1
46.0
28.3
92.6
94.7
91.1
80.7
8.8
11.2
15.2
19.5
Days
LOAN RISK
399
5.85
349
465
2,245
1,690
57
1,667
610
604
1,288
2,050
1,000
4,711
504
1,264
699
Weightedaverage risk
rating3
31.1
72.7
9.8
5.5
22.6
.9
9.8
11.6
Weightedaverage
maturity/
repricing
interval2
Days
SIZE OF LOAN
(thousands of dollars)
31 1-99
32 100-999
33 1,000-9,999
34 10,000 or more . . .
6.09
5.82
5.26
4.47
1,846
8,066
14,517
13,717
3.6
3.4
54
78
133
147
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
6.02
4.36
17,877
20,269
3.4
2.9
62
177
64.0
46.2
8.6
22.0
255
796
93.5
83.5
Financial Markets
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
61
Survey of Loans Made, May 2-6, 2005—Continued
D. Commercial and industrial loans made by small domestic banks'
Weightedaverage
maturity5
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
All commercial and industrial loans
Minimal risk
Low risk
Moderate risk
Other
6.61
5.77
6.15
6.66
6.87
5,920
2,636
1,517
73
83
1,068
By malurilx/repricing interval
Zero interval
Minimal risk
Low risk
Moderate risk
Other
6.66
5.73
6.30
6.54
7.09
2,537
Maturity/repricing
interval2 and
risk of loans1
Average
loan size
(thousands of
dollars)
Percent of amount of loans (percent)
Commitment status
Prime based
Percent made
under
commitment
Average
months since
loan terms
set"
2.9
.1
2.4
4.5
2.4
68.3
63.0
54.5
71.3
77.3
84.7
78.1
92.6
84.0
88.5
5.1
1.2
5.4
6.2
4.7
84.1
91.8
72.8
85.6
78.6
2.7
.7
1.0
3.8
2.0
84.2
82.8
69.1
84.7
95.4
88.9
92.9
94.5
86.3
91.7
12.0
Secured by
collateral
Subject to
prepayment
penalty
872
85.6
64.8
66.4
88.7
91.1
561
68
50
94
78
47
701
878
295
985
422
Days
LOAN RISK
1
2
3
4
5
6
7
8
9
10
n
218
655
38
208
1,447
78
72
1 14
900
649
611
8.5
2.4
9.8
7.3
Daily
Minimal risk
Low risk
Moderate risk
Other
6.50
485
73
768
85.3
.7
95.3
93.1
2.0
12
13
14
15
6.97
6.59
6.76
36
226
70
41
72
64
311
415
2,617
95.4
88.2
97.9
.0
.4
3.8
100.0
94.4
91.1
99.5
88.5
97.7
2.0
3.5
1.6
16
17
18
19
20
^ to 30 days
Minimal risk
Low risk
Moderate risk
Other
6.40
914
154
263
90.2
2.7
77.6
94.2
2.9
5.19
6.57
6.91
47
288
393
402
101
199
421
292
249
63.0
99.0
98.9
4.4
1.8
4.4
26.2
82.0
96.1
92.4
95.4
95.5
5.0
.6
3.9
21
31 to 365 days
Minimal risk
Low risk
Moderate risk
Other
6.55
5.67
5.50
6.97
6.91
996
48
199
337
242
62
41
128
47
132
427
246
174
385
640
89.6
70.2
90.2
85.9
98.6
3.0
.0
5.7
5.2
.5
31.1
22.0
70.1
77.7
36.4
89.3
80.0
77.9
3.0
2.4
3.8
1.4
4.2
80.9
64.7
24.8
96.3
97.5
4.7
.0
.1
43.4
41.3
91.1
39.1
10.5
67.8
60.7
92.6
64.3
77.8
.6
2.0
.0
1.5
.1
67.1
70.7
69.2
77.6
86.0
87.0
*
*
6.2
4.8
5.3
*
88.1
77.4
5
6
T)
23
24
25
9.9
6.9
Months
26
27
28
28
30
More than 365 days
Minimal risk
Low risk
Moderate risk
Other
6.81
6.05
6.82
6.96
6.29
982
32
166
332
251
99
71
165
81
170
80
47
51
102
81
Weightedaverage risk
rating3
Weightedaverage
maturity/
repricing
interval2
12.2
1.9
Days
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1,000-9,999
10,000 or more
7.15
6.63
6.25
1,378
2,614
1,773
*
*
3.1
3.0
3.3
*
273
261
428
*
84.9
87.8
81.5
*
3.0
3.6
2.1
*
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35
36
Prime
Other
Footnotes appear at end of table.
6.81
6.18
4,042
1,877
3.2
2.9
153
643
85.4
86.0
2.7
3.3
79
76
62
Federal Reserve Bulletin Statistical Supplement • August 2005
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
Survey of Loans Made, May 2-6, 2005—Continued
E. Commercial and industrial loans made by U.S. branches and agencies of foreign banks'
Maturity/repricing
interval2 and
risk of loans1
Weightedaverage
maturity5
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
3.98
3.98
3.80
3.97
4.15
26,112
1,076
4,992
9,141
8,527
4.194
3.135
4.980
4.040
4.103
170
701
212
33
Average
loan size
(thousands of
dollars)
Percent of amount of loans (percent)
Secured by
collateral
Days
Subject to
prepayment
penalty
Prime based
Commitment status
Percent made
under
commitment
Average
months since
loan terms
set"
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3 Low risk
4
Moderate risk
5
Other
39.9
39.6
43.6
5.3
2.3
8.1
4.8
4.9
65.0
89.4
81.2
71.5
55.2
7.3
.5
6.0
9.4
7.9
13.5
20.3
41.5
1.1
24.8
11.3
.5
By malurilx/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other
6.50
564
595
1,233
56.3
.6
61.0
100.0
14.8
6.40
5.79
7.64
29
270
175
276
545
569
1,302
65.5
67.6
66.0
.0
.0
1.8
37.8
76.9
71.5
100.0
100.0
100.0
10.1
21.0
13.2
1 1 Daily
12 Minimal risk
13 Low risk
14 Moderate risk
15 Other
3.71
3.58
3.63
3.67
3 78
15,708
7.951
3.565
16.444
7.255
8.346
2.0
8.4
.0
4.1
1.1
38.6
1.9
.0
.0
2.7
1.1
60.9
75.3
70.6
73.2
51.2
5.6
.0
8.5
2.3
9.0
16 ^ to 30 days
17
Minimal risk
18 Low risk
19 Moderate risk
''O
Other
4.01
3.70
3.64
3.95
4.46
6,398
10.1
21 31 to 365 days
22
Minimal risk
23 Low risk
24
Moderate risk
25
Other
4.79
4.12
4.89
4.87
5.16
3,201
373
2,650
5,177
5,694
218
1,707
2,486
1,719
262
593
1,207
845
847
1,510
47
147
4
1
.0
47.0
27.4
40.2
27.8
19.2
57.9
.0
51.1
26.6
42.1
73.6
52.7
3.5
9.9
7.3
2.1
1.5
62.5
90.1
90.7
55.8
49.9
757
29.2
31.6
15.0
1,379
4.7
4.1
1.8
4.2
43.5
49.9
34.9
30.4
54.1
20.8
83.1
100.0
100.0
89.6
85.7
*
*
*
*
58.9
26.6
18.3
10.0
29.5
36.4
37.4
44.1
59.9
37.8
97.5
90.7
74.0
58.6
3.543
2.319
3.830
4.014
3.555
107
681
197
69
T)
2.185
2.606
2.099
2.786
1.427
697
542
898
1.2
3.5
.6
3.3
22.1
5.1
7.5
1.1
4.5
11.8
5.8
Months
26 More than 365 days
^7
Minimal risk
28 Low risk
^8
Moderate risk
30
Other
*
Weightedaverage risk
rating3
*
Weightedaverage
maturity/
repricing
interval2
Days
SIZE OF LOAN
(thousands of dollars)
31
3^
33
34
1-99
100-999
1,000-9,999
10,000 or more
5.94
5 ^4
4.35
3.71
30
891
8,910
16,282
3.3
3.0
3.2
3.1
20
24
26
15
9.5
1.2
Average size
(thousands
of dollars)
Footnotes appear at end of table.
8.2
10.8
8.1
6.4
Financial Markets
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
63
Survey of Loans Made, May 2-6, 2005—Continued
F. Commercial and industrial loans by date pricing terms were set and commitment status
Weighted-
Date pricing terms were set
and commitment status
Weightedaverage
effective
loan rate4
(percent)
Amount of
loans
(millions
of dollars)
Average loan
size
(thousands of
dollars)
Weightedaverage
risk rating'
maturity
repricing
interval2
Percent of amount of loans
Days
Secured by
collateral
Subject to
prepayment
penalty
Prime
based
All commercial banks
1 During survey week
2
Not under commitment
3
Informal commitment
4
Formal commitment
4.45
4.16
4.07
5.71
29,841
14,556
9,167
6,118
513
588
437
492
3.1
3.3
3.1
2.8
110
110
33
231
24.5
19.5
13.9
52.0
33.4
55.6
14.6
9.0
19.0
11.6
10.7
49.2
Prior to survey week*
Up to 90 days
91 to 365 days
More than 365 days
5.25
5.13
5.05
8,363
15,787
15,649
282
248
630
3.1
3.1
3.1
135
88
73
45.1
60.2
55.8
12.7
16.6
21.6
52.8
48.4
35.4
Domestic banks
8 During survey week
9
Not under commitment
10 Informal commitment
1 1 Formal commitment
5.59
4.94
5.89
6.26
11,622
5,409
1,701
4,512
211
229
88
373
3.1
3.1
3.1
3.1
254
261
150
285
49.4
34.7
70.4
59.1
8.4
9.7
4.2
8.5
47.0
30.5
52.9
64.7
Prior to survey week*
Up to 90 days
91 to 365 days
More than 365 days
5.44
5.21
5.15
6,898
12,798
12,681
237
206
533
3.2
3.2
3.2
158
102
87
54.5
66.3
61.7
12.0
12.4
21.9
59.5
54.8
41.7
Large domestic banks
15 During survey week
16 Not under commitment
17
Informal commitment
18 Formal commitment
5.16
4.57
4.77
6.12
8,272
4,503
743
3,026
628
597
216
1,382
3.1
3.1
3.1
3.2
160
165
49
179
34.1
24.2
45.1
46.1
10.5
11.0
2.7
11.6
40.5
25.9
29.3
64.9
Prior to survey week*
Up to 90 days
91 to 365 days
More than 365 days
5 ^9
5.06
5.11
6,193
11,489
12,192
317
255
684
3.2
3.1
3.2
162
107
89
50.3
64.4
61.3
13.3
13.5
22.7
57.4
52.3
40.8
Small domestic banks
22 During survey week
23
Not under commitment
24
Informal commitment
25 Formal commitment
6.67
6.78
6.77
6.53
3,350
906
958
1,486
80
56
60
150
3.0
3.1
3.1
2.9
487
736
228
501
87.1
86.7
90.1
85.5
3.4
3.2
5.3
2.2
63.2
53.1
71.2
64.2
Prior to survey week*
Up to 90 days
91 to 365 days
More than 365 days
6.78
6.55
6.10
705
1,309
489
74
76
82
3.2
3.4
3.0
124
63
25
91.4
83.0
71.4
1.1
3.0
2.8
78.3
77.0
64.7
Foreign banks
^9 During survey week
30
Not under commitment
31
Informal commitment
3^
Formal commitment
3 7^
3.69
3.66
4.19
18,219
9,147
7,466
1,606
5,914
8,487
4,470
4,827
3.2
3.4
3.1
2.0
18
20
6
66
8.6
10.6
1.0
32.3
49.4
82.7
16.9
10.3
1.1
.4
1.0
5.8
Prior to survey week*
Up to 90 days
91 to 365 days
More than 365 days
4.34
4.77
4.63
1,465
2,989
2,968
2,714
1,992
2,847
2.7
2.8
3.1
24
29
17
1.2
34.3
30.7
15.7
34.6
19.9
21.1
21.0
8.5
5
6
7
1^
13
14
19
20
21
26
27
28
33
34
35
NOTE. The Survey of Terms of Business Lending collects data on gross loan extensions
made during the first full business week in the mid-month of each quarter. The authorized
panel size for the survey is 348 domestically chartered commercial banks and 50 U.S.
branches and agencies of foreign banks. The sample data are used to estimate the terms of
loans extended during that week at all domestic commercial banks and all U.S. branches and
agencies of foreign banks. Note that the terms on loans extended during the survey week may
differ from those extended during other weeks of the quarter. The estimates reported here are
not intended to measure the average terms on all business loans in bank portfolios. The data in
this table also appear in the Board's E.2 statistical release, available on the Board's website
at: www.federalreserve.gov/releases.
1. As of March 31, 2003, assets of the large banks were at least $3.7 billion. Median total
assets for all insured banks were roughly $93 million. Assets at all U.S. branches and agencies
averaged $3.3 billion.
2. The "maturity/repricing" interval measures the period from the date the loan is made
until it first may be repriced or matures. For floating-rate loans that are subject to repricing at
any time—such as many prime-based loans—the maturity/repricing interval is zero. For
floating-rate loans that have a scheduled repricing interval, the maturity/repricing interval
measures the number of days between the date the loan is made and the date on which it is
next scheduled to reprice. For loans having rates that remain fixed until the loan matures
(fixed-rate loans), the "maturity/repricing" interval measures the number of days between the
date the loan is made and the date on which it matures. Loans that reprice daily mature or
reprice on the business day after they are made. Owing to weekends and holidays, such loans
may have "maturity/repricing" intervals in excess of one day; such loans are not included in
the 2 to 30 day categoiy.
3. A complete description of these risk categories is available on the Board's website at
"http://www.federalresei've.gov/boarddocs/reportfonns/ReportDetail.cfm?WhichFormId=
FR_2028a/s." The categoiy "Moderate risk" includes the average loan, under average
economic conditions, at the typical lender. The "Other" category includes loans rated
"Acceptable" as well as special mention or classified loans. The weighted-average risk rating
published for loans in rows 31-36 are calculated by assigning a value of " 1" to minimal risk
loans; " 2 " to low risk loans; " 3 " to moderate risk loans, "4" to acceptable risk loans; and
" 5 " to special mention and classified loans. These values are weighted by loan amount and
exclude loans with no risk rating. Some of the loans in table rows 1,6, 11, 16, 21, 26, and
31-36 are not rated for risk.
4. Effective (compounded) annual interest rates are calculated from the stated rate and
other terms of the loans and weighted by loan amount. The standard error of the loan rate for
all commercial and industrial loans in the current survey (line 1, column 1) is 0.22 percentage
point. The chances are about two out of three that the average rate shown would differ by less
than this amount from the average rate that would be found by a complete survey of the
universe of all banks.
5. Average maturities are weighted by loan amount and exclude loans with no stated
maturities.
6. For loans made under formal commitments, the average time interval between the date
on which the loan pricing was set and the date on which the loan was made, weighted by the
loan amount. For loans under informal commitment, the time interval is zero.
7. Prime-based loans are based on the lending bank's own prime rate, any other lender's
prime rate, a combination of prime rates, or a publicly reported prime rate. Loans with
"other" base rates include loan rates expressed in terms of any other base rate (e.g., the
federal funds rate or LIBOR) and loans for which no base rate is used to determine the loan
rate.
8. For loans made under formal commitments.
* The number of loans was insufficient to provide a meaningful value.
64
Federal Reserve Bulletin Statistical Supplement • August 2005
4.30
ASSETS AND LIABILITIES
of U.S. Branches and Agencies of Foreign Banks, March 31, 20051
Millions of dollars except as noted
Total
including
IBFs'
Total assets4 .
2 Claims on nonrelated parties
3 Cash and balances due from depositoiy institutions
4
Cash items in process of collection and unposted debits
5
Currency and coin (U.S. and foreign)
6
Balances with depositoiy institutions in United States
7
U.S. branches and agencies of other foreign banks
(including their IBFs)
8
Other depositoiy institutions in United States (including their
IBFs)
9
Balances with banks in foreign countries and with foreign central
banks
10
Foreign branches of U.S. banks
11
Banks in home country and home-country central banks
12
All other banks in foreign countries and foreign central banks .
13 Balances with Federal Reserve Banks
14 Total securities and loans . . .
15 Total securities, book value
16 U.S. Treasury
17
Obligations of U.S. government agencies and corporations
18 Other bonds, notes, debentures, and corporate stock (including state
and local securities)
19
Securities of foreign governmental units
20
Mortgage-backed securities
21
Issued or guaranteed by U.S. government agencies
22
Other
23
Other asset-backed securities
24
All other
25 Federal funds sold
26
With depositoiy institutions in the U.S. .
27
With others
860,274
81,055
3,321
10
22,183
182
4,151
17,850
614
450,896
157,963
10,890
19,152
127,922
7,797
29,315
24,546
4,768
27,812
62,998
18,400
10,755
7,646
31 Total loans, gross
32
LESS: Unearned income on loans .
293,336
404
33
292,933
44 Commercial and industrial loans
45
U.S. addressees (domicile)
46
Non-U.S. addressees (domicile)
47 Loans to foreign governments and official institutions (including
foreign central banks)
48 Loans for purchasing or carrying securities (secured and unsecured)
49 All other loans
50 Lease financing receivables (net of unearned income)
51
U.S. addressees (domicile)
52
Non-U.S. addressees (domicile)
53 Trading assets
54
U.S. Treasury and agency securities
55
Other trading assets
56 All other assets
57
Customers' liabilities on acceptances outstanding
58
U.S. addressees (domicile)
59
Non-U.S. addressees (domicile)
60
Other assets including other claims on nonrelated parties
61 Net due from related depository institutions5
62
Net due from head office and other related depositoiy institutions5
63
Net due from establishing entity, head office, and other related
depositoiy institutions5
966
0
15,987
152
15,835
75,111
206
10,930
Total
including
IBFs
IBFs
only
14,420
1,140
1,357
770
0
760
10,039
553
143
207
45,280
362
21
0
259
0
226
209
360
15
190
155
17
98
0
11
88
17
362
16
190
157
14
24,706
23,860
12,906
4,926
n.a.
n.a.
153,606
9,207
18,588
4,548
n.a.
n.a.
1,565
34
171
369
n.a.
n.a.
2,291
1,579
238
n.a.
n.a.
4,926
3,173
4,548
3,128
0
0
0
4
1,416
1,359
54
1,749
125,811
7,560
313
24,232
4,768
27,812
61,439
369
42
n.a.
0
0
0
327
474
127
n.a.
0
0
0
347
1
1
n.a.
0
0
0
0
6,088
2,216
3,87 1
17,418
9,870
7,549
6,054
2,214
3,839
50
50
0
0
0
29,000
0
0
4
0
991
125,903
23,557
102,345
19,800
20
19,780
9,351
636
633
3
0
8,500
135
8,364
215
9,238
2,892
8,877
15,426
893
273
9,227
238,096
337
237,759
12,981
76,596
2,392
1,580
811
0
14,047
152
13,895
60,157
123,022
94,808
28,214
2,527
7,924
14,578
0
0
0
19,332
20
19,312
1,366
24
1,342
210
0
210
31,828
8
31,820
23
9,090
542
539
3
0
3,049
2,195
144
144
0
0
226
0
226
1,826
0
104
69
69
0
0
35
0
35
0
45
14,011
0
0
0
0
1,226
0
1,226
12,785
5,678
5,289
389
106
0
106
16,753
15,896
857
0
444
0
0
0
595
110
0
0
0
93
57
36
8,333
135
8,198
215
9,053
9,042
871
273
153,484
28,348
125,136
1,273
0
1,273
126,758
28,123
98,636
1,230
0
1,230
49
0
49
0
0
0
9,726
198
9,528
30,536
604
358
246
472
n.a.
n.a.
n.a.
472
76,568
n.a.
28,056
523
314
462
n.a.
n.a.
n.a.
462
50,495
n.a.
274
27
26
1
247
661
661
7
n.a.
n.a.
n.a.
7
3,931
n.a.
1,030
37
18
19
76,568
1,216,842
133,947
65 Liabilities to nonrelated parties
1,126,711
118,383
209
27,533
300,629
300,629
n.a.
1,066,626
991,711
3,931
50,495
0
50
34,112
0
0
0
468
468
561
525
36
29,932
261
13,593
132
2,437
11,024
n.a.
154,594
122,355
32,240
356,568
356,568
IBFs
only
47,369
15,081
55,380
23,775
0
Total
including
IBFs
21,177
166
3,948
17,063
454
391,365
14,026
147
2,627
11,252
n.a.
64 Total liabilities4
Footnotes appear at end of table.
765,998
76,497
3,284
6
40,647
16,893
94,093
2,994
2,029
IBFs
only
51,577
43,442
125,903
23,557
102,345
Total loans, gross, by category
34 Real estate loans
35 Loans to depositoiy institutions and acceptances of other banks
36
Commercial banks in United States (including their IBFs)
37
U.S. branches and agencies of other foreign banks
38
Other commercial banks in United States
39
Other depositoiy institutions in United States (including their IBFs) .
40
Banks in foreign countries
41
Foreign branches of U.S. banks
42
Other banks in foreign countries
43 Loans to other financial institutions
57,378
24,840
0
54,927
11,485
Total
including
IBFs
1,066,626
1,216,842
28 Securities purchased under agreements to resell . .
29
With depositoiy institutions in the U.S
30
With others
EQUALS: Loans, net
IBFs
only3
105,875
15,081
5,288
90,537
9,515
5,146
993
2,089
2,089
n.a.
47,369
45,643
0
0
0
n.a.
n.a.
n.a.
1
2,016
n.a.
2,016
2,277
2,275
US. Branches and Agencies
4.30
ASSETS AND LIABILITIES
65
of U.S. Branches and Agencies of Foreign Banks, March 31, 2005'—Continued
Millions of dollars except as noted
Total
excluding
IBFs'
66 Total deposits and credit balances
67
Individuals, partnerships, and corporations (including certified
and official checks)
68
U.S. addressees (domicile)
69
Non-U.S. addressees (domicile)
70
Commercial banks in United States (including their IBFs)
71
U.S. branches and agencies of other foreign banks
72
Other commercial banks in United States
73
Banks in foreign countries
74
Foreign branches of U.S. banks
75
Other banks in foreign countries
76
Foreign governments and official institutions
(including foreign central banks)
77
All other deposits and credit balances
78 Transaction accounts and credit balances (excluding IBFs)
79
Individuals, partnerships, and corporations (including certified
and official checks)
80
U.S. addressees (domicile)
81
Non-U.S. addressees (domicile)
82
Commercial banks in United States (including their IBFs)
83
U.S. branches and agencies of other foreign banks
84
Other commercial banks in United States
85
Banks in foreign countries
86
Foreign branches of U.S. banks
87
Other banks in foreign countries
88 Foreign governments and official institutions
(including foreign central banks)
89 All other deposits and credit balances
90 Nontransaction accounts (including MMDAs, excluding IBFs) . . .
91
Individuals, partnerships, and corporations (including certified
and official checks)
92
U.S. addressees (domicile)
93
Non-U.S. addressees (domicile)
94
Commercial banks in United States (including their IBFs)
95
U.S. branches and agencies of other foreign banks
96
Other commercial banks in United States
97
Banks in foreign countries
98
Foreign branches of U.S. banks
99
Other banks in foreign countries
100 Foreign governments and official institutions
(including foreign central banks)
101
All other deposits and credit balances
102 IBF deposit liabilities
103 Individuals, partnerships, and corporations (including certified
and official checks)
104
U.S. addressees (domicile)
105
Non-U.S. addressees (domicile)
106
Commercial banks in United States (including their IBFs)
107
U.S. branches and agencies of other foreign banks
108
Other commercial banks in United States
109
Banks in foreign countries
110
Foreign branches of U.S. banks
Other banks in foreign countries
Foreign governments and official institutions
(including foreign central banks)
All other deposits and credit balances
Footnotes appear at end of table.
IBFs
only3
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
547,249
82,851
488,331
62,751
2,475
3,785
10,626
442,414
425,827
7,544
159
392,949
4,180
1,795
383,073
16,587
9,876
70,864
159
4,022
24,699
54,006
7,385
11,160
9,418
1,742
7,803
36,877
7,428
1,467
6,335
844
1,467
5,961
10,381
10,341
40
155
0
155
88
0
36,033
1,644
26,073
740
25,333
511
1,284
55
0
55
10
0
10
175
0
175
348
321
27
1,881
104
1,777
2,550
15,777
27,236
35
2,490
14,599
21,983
35
10,387
8,360
9,307
6,027
6
47
727
0
727
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
7,396
5,599
1,797
52
6
47
655
0
655
250
51
n.a.
n.a.
78,705
3,280
53
24,104
46,760
385,553
377,474
78,652
24,694
53,959
7,076
1,467
5,608
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
2,300
15,726
n.a.
n.a.
419,799
13,308
124
85
39
0
0
0
10
0
10
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
5
n.a.
n.a.
1,670
426
24,098
46,714
6,773
1,467
5,306
1,245
55
0
55
0
0
0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
2,278
14,555
n.a.
n.a.
5
603
n.a.
n.a.
70,812
82,851
62,751
3,785
7,544
159
4,180
175
0
175
348
321
27
1,881
104
1,777
7,385
11,160
9,418
1,742
36,877
844
36,033
27,236
35
159
4,022
10,480
8,835
1,644
26,073
740
25,333
167
164
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
10,458
2,333
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
8,079
0
0
0
158
0
158
483
0
1,381
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
479,971
536,861
433,107
10,480
8,835
IBFs
only
1,381
0
10,214
10,177
37
155
0
155
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
232
0
232
0
0
0
158
0
158
66
Federal Reserve Bulletin Statistical Supplement • August 2005
4.30
ASSETS AND LIABILITIES
of U.S. Branches and Agencies of Foreign Banks, March 31, 2005'—Continued
Millions of dollars except as noted
All states2
Item
New York
Califomia
Total
including
IBFs'
IBFs
only3
Total
including
IBFs
IBFs
only
62.007
28,038
33,969
14,086
1,961
12,125
45,284
19,405
25,879
8,107
1,462
6,646
921
822
99
213
164
49
5,274
2,218
3,057
917
55
862
1 17 Securities sold under agreements to repurchase
1 18 With depositoiy institutions in the U S
1 19 With others
1 ''O Other borrowed money
121 Owed to nonrelated commercial banks in United States (including
their IBFs)
122
Owed to U.S. offices of nonrelated U.S. banks
123 Owed to U.S. branches and agencies of nonrelated
foreign banks
124 Owed to nonrelated banks in foreign countries
125 Owed to foreign branches of nonrelated U.S. banks
126
Owed to foreign offices of nonrelated foreign banks
127 Owed to others
142,262
15,697
126,565
169,037
1,923
0
1,923
17,800
140,769
15,669
125,100
144,393
1,923
0
1,923
16,076
305
28
277
1,784
0
0
0
1,133
126
0
126
20,597
0
0
0
484
16,408
10,615
3,930
750
15,806
10,509
3,651
745
268
76
197
5
260
30
65
0
5,794
14,325
534
13,791
138,303
3,180
10,834
209
10,625
3,035
5,297
13,122
437
12,685
115,464
2,906
9,815
172
9,643
2,610
192
534
57
477
983
192
511
37
474
425
231
468
0
468
19,868
65
419
0
419
0
128 All other liabilities
129
Branch or agency liability on acceptances executed and
outstanding
130 Trading liabilities
1 31
Other liabilities to nonrelated parties
123,305
1,722
110,184
1,679
245
15
8,146
1
630
98,168
24,508
n.a.
41
1,681
544
88,649
20,990
n.a.
41
1,638
27
37
181
n.a.
0
15
37
7,161
948
n.a.
0
1
90,131
90,131
15,563
n.a.
74,915
74,915
15,338
n.a.
5,566
5,566
142
n.a.
1,727
1,727
n.a.
n.a.
15,563
n.a.
15,338
n.a.
142
n.a.
1 14 Federal funds purchased
1 15 With depositoiy institutions in the U.S
1 16 With others
1 3^ Net due to related depositoiy institutions5
133 Net due to head office and other related depositoiy institutions5
134 Net due to establishing entity, head office, and other related
depositoiy institutions5
Total
including
IBFs
Illinois
IBFs
only
Total
including
IBFs
IBFs
only
T
2
MEMO
135 Holdings of own acceptances included in commercial and
industrial loans
136 Commercial and industrial loans with remaining maturity of one year
or less (excluding those in nonaccrual status)
1 37 Predetermined interest rates
138 Floating interest rates
139 Commercial and industrial loans with remaining maturity of more
than one year (excluding those in nonaccrual status)
140 Predetermined interest rates
141 Floating interest rates
Footnotes appear at end of table.
722
n.a.
9
n.a.
105
n.a.
68,163
21,152
47,010
n.a.
14,132
n.a.
47,443
1,207
33,31 1
547
n.a.
n.a.
3,436
n.a.
3,118
n.a.
1,911
n.a.
n.a.
n.a.
12,949
n.a.
9,513
n.a.
n.a.
n.a.
83,027
10,563
72,464
n.a.
n.a.
n.a.
72,564
9,008
63,556
n.a.
n.a.
n.a.
2,511
294
2,216
n.a.
n.a.
n.a.
3,614
296
3,318
n.a.
n.a.
n.a.
US. Branches and Agencies
4.30
ASSETS AND LIABILITIES
67
of U.S. Branches and Agencies of Foreign Banks, March 31, 20051—Continued
Millions of dollars except as noted
All states2
Item
142 Components of total n on transaction accounts,
included in total deposits and credit balances
143 Time deposits of $ 100,000 or more
144 Time CDs in denominations of $100,000 or more
with remaining maturity of more than 12 months
Total
excluding
IBFs3
IBFs
only3
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
607,763
528,132
n.a.
n.a.
549,740
472,611
n.a.
n.a.
2,203
2,195
n.a.
n.a.
10,106
10,103
n.a.
n.a.
79,631
n.a.
77,129
n.a.
8
n.a.
3
n.a.
All states2
145 Immediately available funds with a maturity greater than one day
included in other borrowed money
146 Number of reports filed6
Illinois
Califomia
New York
Illinois
Califomia
New York
Total
including
IBFs3
IBFs
only3
Total
including
IBFs
IBFs
only
Total
including
IBFs
IBFs
only
54,290
262
n.a.
140
52,082
51
n.a.
15
1,366
n.a.
n.a.
n.a.
1. Data are aggregates of categories reported on the quarterly form FFIEC 002, "Report of
Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks." The form was first
used for reporting data as of June 30, 1980, and was revised as of December 31, 1985. From
November 1972 through May 1980, U.S. branches and agencies of foreign banks had filed a
monthly FR 886a report. Aggregate data from that report were available through the Federal
Reserve monthly statistical release G. 11, last issued on July 10, 1980. Data in this table and in
the G.I 1 tables are not strictly comparable because of differences in reporting panels and in
definitions of balance sheet items.
2. Includes the District of Columbia.
3. Effective December 1981, the Federal Reserve Board amended Regulations D and Q to
permit banking offices located in the United States to operate international banking facilities
(IBFs). Since December 31, 1985, data for IBFs have been reported in a separate column.
These data are either included in or excluded from the total columns as indicated in the
headings. The notation "n.a." indicates that no IBF data have been reported for that item,
Total
including
IBFs
621
n.a.
IBFs
only
n.a.
n.a.
either because the item is not an eligible IBF asset or liability or because that level of detail is
not reported for IBFs. From December 1981 through September 1985, IBF data were
included in all applicable items reported.
4. Total assets and total liabilities include net balances, if any, due from or owed to related
banking institutions in the United States and in foreign countries (see note 5). On the former
monthly branch and agency report, available through the G.ll monthly statistical release,
gross balances were included in total assets and total liabilities. Therefore, total asset and total
liability figures in this table are not comparable to those in the G. 11 tables.
5. Related depositoiy institutions includes the foreign head office and other U.S. and
foreign branches and agencies of a bank, a bank's parent holding company, and majorityowned banking subsidiaries of the bank and of its parent holding company (including
subsidiaries owned both directly and indirectly).
6. In some cases, two or more offices of a foreign bank within the same metropolitan area
file a consolidated report.
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign banks, U.S. branches and agencies, 64—67
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21, 64—67 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21, 64-67
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21
Commercial and industrial loans, 15-21, 58-63
Consumer loans held, by type and terms, 34, 58-63
Real estate mortgages held, by holder and property, 33
Terms of lending, 58-63
Time and savings deposits, 4
Commercial paper, 22, 23, 30
Condition statements (See Assets and liabilities)
Consumer credit, 34
Corporations
Security issues, 29, 55
Credit unions, 34
Currency in circulation, 5, 13
Customer credit, stock market, 24
DEBT (See specific types of debt or securities)
Demand deposits, 15-21
Depository institutions
Reserve requirements, 8
Reserves and related items, 4—6, 12
Deposits (See also specific types)
Commercial banks, 4, 15-21
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
EURO, 56
FARM mortgage loans, 33
Federal agency obligations, 5, 9-11, 26, 27
Federal credit agencies, 28
Federal finance
Debt subject to statutory limitation, and types and ownership of
gross debt, 25
Federal Financing Bank, 28
Federal funds, 23
Federal Home Loan Banks, 28
Federal Home Loan Mortgage Corporation, 28, 32, 33
Federal Housing Administration, 28, 32, 33
Federal Land Banks, 33
Federal National Mortgage Association, 28, 32, 33
Federal Reserve Banks
Condition statement, 10
Discount rates (See Interest rates)
U.S. government securities held, 5, 10, 11, 25
Federal Reserve credit, 5, 6, 10, 12
Federal Reserve notes, 10
Federally sponsored credit agencies, 28
Finance companies
Assets and liabilities, 30
Business credit, 31
Loans, 34
Paper, 22, 23
Float, 5
Flow of funds, 35-9
Foreign banks, U.S. branches and agencies, 64—67
Foreign currency operations, 10
Foreign deposits in U.S. banks, 5
Foreign exchange rates, 56
Foreign-related institutions, 20
Foreigners
Claims on, 45, 48^19, 52-53
Liabilities to, 45^17, 50-51, 54, 55
GOLD
Certificate account, 10
Stock, 5, 45
Government National Mortgage Association, 28, 32, 33
INDUSTRIAL production, 42, 43
Insurance companies, 25, 33
Interest rates
Bonds, 23
Commercial banks, 58-63
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22, 58-63
International capital transactions of United States, 44—55
International organizations, 45, 46^17, 48, 50-55
Investment companies, issues and assets, 30
Investments (See also specific types)
Commercial banks, 4, 15-21, 58-63
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Commercial banks, 15-21, 58-63
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Foreign banks, U.S. branches and agencies, 64-67
Insured or guaranteed by United States, 32, 33
MANUFACTURING
Capacity utilization, 40, 41
Production, 42, 43
Margin requirements, 24
Member banks, reserve requirements, 8
Mining production, 43
Monetary and credit aggregates, 4, 12
Money and capital market rates, 23
Money stock measures and components, 4, 13
Mortgages (See Real estate loans)
Mutual funds, 13, 30
Mutual savings banks (See Thrift institutions)
OPEN market transactions, 9
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22, 58-63
Production, 42, 43
REAL estate loans
Banks, 15-21, 33
Terms, yields, and activity, 32
Type and holder and property mortgaged, 33
Reserve requirements, 8
Reserves
Commercial banks, 15-21
Depository institutions, 4—6
Federal Reserve Banks, 10
U.S. reserve assets, 45
Residential mortgage loans, 32, 33
Retail credit and retail sales, 34
SAVING
Flow of funds, 33, 34, 35-9
Saving deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-9
Securities (See also specific types)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44-55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting banks, 17, 18
YIELDS (See Interest rates)
69
@FedFRASER