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Volume 3 • Number 3 • March 2006
Statistical Supplement
M to the
tne Federal
t eaeral Keserve
Reserve
£ BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Rosanna Pianalto Cameron, 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
Published monthly, the Statistical Supplement is
designed as a compact source of economic and financial data. 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.
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 March 2006.
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 Finance
25 Federal debt subject to statutory limitation
25 Gross public debt of U.S. TreasuryTypes and ownership
26 U.S. government securities
dealers—Tran saction s
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
Federal Reserve 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 • March 2006
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
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
Reported by Nonbanking Business
Enterprises in the United States
50 Liabilities to foreigners
52 Claims on foreigners
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
SPECIAL TABLES
58 Assets and liabilities of commercial banks,
December 31, 2005
60 INDEX TO STATISTICAL TABLES
62 FEDERAL RESERVE BOARD PUBLICATIONS
64 ANTICIPATED SCHEDULE OF RELEASE DATES FOR
PERIODIC STATISTICAL RELEASES
66 PUBLICATIONS OF INTEREST
67 FEDERAL RESERVE STATISTICAL RELEASES
AVAILABLE ON THE COMMERCE DEPARTMENT'S
ECONOMIC BULLETIN BOARD
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 • March 2006
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Ql
1
2
3
4
Reserves of depository institutions2
Total
Required
Nonborrowed
Monetary base3
Concepts of money*
5 Ml
6 M2
7 M3
Nontransaction components
8 In M2S
9 In M3 only1"
Time and savings deposits
Commercial banks
Savings, including MMDAs . . .
Small time7
Large times>9
Thrift institutions
13
Savings, including MMDAs . . .
14
Small time7
15 Large times
10
11
12
2.1
3.5
2.9
2.9
-4.3
2.9
.2
3.6
5.6'
2.5
6.0
Q3
Q4
Aug.r
Sept.1
-8.0'
-9.5
-9.7
-6.0
-7.0
-4.5
4.3
-40.5
-39.0
-39.2
2.9
31.7
21.1
32.7
4.8
-.5
4.4
7.8
.7
5.0
9.2
7.0
5.5
12.6
-2.5
5.5
10.5
-24.5
-21.6
-23.4
3.5
-1.9
.9
2.3
5.6
2.4
-1.8
1.2
4.1
1.6
5.2
9.7
.5
3.8
5.4
-1.3
5.0
8.8
4.5
10.0'
13.3
5.7
14.9'
6.1
17.5
5.2
26.8
7.6
20.3
6.2
18.4
4.7
8.4
6.6
16.3
6.0
14.4'
31.0'
2.8
19.1
22.9
5.6'
19.8'
12.3'
6.4
8.5
20.8
2.8
18.2
42.0
9.6
17.1
22.8
6.2
-3.8
23.2
3.8
10.4
9.5
14.3
21.8
-2.1
15.5
44.2
-6.5
21.7
45.5
-3.0
19.8'
33.2'
-3.6
29.3
35.9
3.9
22.8
39.7
-8.3
16.6
38.4
-2.5
47.6
43.9
-2.9
24.5
31.6
-6.6
10.8
4.2
-2.9
2.4
-1.1'
11.7
4.8
12.1
7.4
17.7
7.2
12.9
3.6
1.4
2.7
16.8
11.8
7.0
22.5
22.3
7.9
20.8
11.3
-1.4
21.8
10.3
19.4
3.7
Money market mutual funds
16 Retail10
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
Q2'
-14.3
24.4'
3.2
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 ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted 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 depository 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 Ml.
11.5'
17.4
28.4
25.2
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 depository 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 depository 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
depository 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
1.11
5
RESERVE BALANCES OF DEPOSITORY INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
Nov. 23
Nov. 30
Dec. 7
Dec. 14
Dec. 21
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Reserve Bank credit outstanding
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans to depository institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
19
20
21
22
23
24
Currency in circulation
Reverse repurchase agreements'"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reserve 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
Reserve balances with Federal Reserve Banks7 . .
800,478
738,119
738,119
270,078
445,075
19,983
2,983
0
21,315
275
31
23
221
1,044
39,726
11,041
2,200
36,429
806,383
742,588
742,588
271,040
448,376
19,983
3,188
0
24,042
123
18
0
105
977
38,654
11,041
2,200
36,494
818,569
744,193
744,193
271,270
449,595
19,983
3,344
0
34,411
172
101
0
71
1,330
38,463
11,041
2,200
36,540
808,871
742,075
742,075
271,018
447,906
19,983
3,168
0
25,607
152
46
0
106
1,695
39,343
11,041
2,200
36,484
806,508
743,500
743,500
271,128
449,158
19,983
3,231
0
24,571
118
23
0
94
1,096
37,223
11,041
2,200
36,512
812,716
744,306
744,306
271,270
449,757
19,983
3,295
0
29,821
103
6
0
97
916
37,570
11,041
2,200
36,540
813,644
744,175
744,175
271,270
449,595
19,983
3,326
0
30,893
86
17
0
69
966
37,524
11,041
2,200
36,540
811,622
744,185
744,185
271,270
449,595
19,983
3,337
0
27,179
81
11
0
70
2,044
38,134
11,041
2,200
36,540
817,176
744,196
744,196
271,270
449,595
19,983
3,347
0
31,964
437
365
0
72
1,809
38,770
11,041
2,200
36,540
826,397
744,207
744,207
271,270
449,595
19,983
3,358
0
42,179
125
51
0
74
807
39,080
11,041
2,200
36,540
768,787
25,595
25,595
0
220
775,736
25,314
25,314
0
215
784,379
27,642
27,642
0
201
776,243
25,557
25,557
0
219
776,963
24,928
24,928
0
210
780,611
25,782
25,782
0
204
778,108
28,800
28,800
0
204
779,370
25,172
25,172
0
199
783,813
26,837
26,837
0
199
792,055
28,577
28,577
0
203
13,996
4,865
98
8,725
8,725
0
308
31,576
9,973
14,087
4,917
85
8,798
8,794
4
287
31,916
8,850
14,399
5,135
100
8,745
8,738
7
420
32,573
9,156
13,713
4,522
88
8,841
14,334
5,107
81
8,823
8,823
0
323
32,111
7,715
14,212
5,090
83
8,754
8,754
0
284
32,315
9,373
14,040
4,932
82
8,734
8,734
0
293
32,125
10,148
14,564
5,396
99
8,805
8,805
0
265
33,108
8,991
14,709
5,402
139
8,819
8,803
16
349
33,005
8,394
13,900
4,853
84
8,661
8,648
13
303
32,649
8,793
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
' 16
262
31,741
11,123
Wednesday figures
End-of-month figures
Nov. 30
Dec. 7
Dec. 14
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Reserve Bank credit outstanding
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans to depository institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
19
20
21
22
23
24
Currency in circulation
Reverse repurchase agreements'"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reserve 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
Reserve balances with Federal Reserve Banks7 . .
805,067
740,595
740,595
270,781
446,792
19,983
3,038
0
24,000
159
10
0
149
342
39,971
11,041
2,200
36,429
817,790
744,168
744,168
271,270
449,595
19,983
3,319
0
35,250
86
4
0
81
882
37,404
11,041
2,200
36,540
831,230
744,215
744,215
271,270
449,595
19,983
3,366
0
46,750
72
6
0
65
885
39,308
11,043
2,200
36,540
803,828
742,878
742,878
271,018
448,688
19,983
3,188
0
20,000
107
7
0
100
3,960
36,883
11,041
2,200
36,484
815,170
744,301
744,301
271,270
449,784
19,983
3,263
0
32,500
108
11
0
97
769
37,494
11,041
2,200
36,512
817,790
744,168
744,168
271,270
449,595
19,983
3,319
0
35,250
86
4
0
81
882
37,404
11,041
2,200
36,540
814,962
744,179
744,179
271,270
449,595
19,983
3,330
0
32,000
119
51
0
68
995
37,669
11,041
2,200
36,540
813,566
744,189
744,189
271,270
449,595
19,983
3,341
0
28,250
89
12
0
77
2,359
38,679
11,041
2,200
36,540
830,004
744,200
744,200
271,270
449,595
19,983
3,351
0
45,000
75
72
2,009
38,721
11,041
2,200
36,540
829,775
744,210
744,210
271,270
449,595
19,983
3,362
0
45,250
114
41
0
73
1,047
39,154
11,041
2,200
36,540
768,130
26,180
26,180
0
211
780,223
30,055
30,055
0
204
794,014
30,505
30,505
0
202
776,841
25,318
25,318
0
211
781,188
24,487
24,487
0
204
780,223
30,055
30,055
0
204
779,145
27,792
27,792
0
199
782,206
26,575
26,575
0
788,606
26,762
26,762
0
203
794,900
30,372
30,372
0
202
14,896
5,712
88
8,781
8,781
0
315
31,820
13,499
13,725
4,634
82
8,754
8,754
0
255
31,865
11,498
15,451
4,573
83
8,651
8,651
0
2,144
30,466
10,375
13,598
4,416
81
8,841
8,825
16
261
31,550
6,034
13,335
4,162
80
8,823
8,823
0
270
32,097
13,612
13,725
4,634
82
8,754
8,754
0
255
31,865
11,498
14,171
5,076
81
8,734
8,734
0
281
31,933
11,503
14,123
4,990
84
8,805
8,805
0
244
32,791
7,454
14,475
5,290
86
8,819
8,803
16
280
32,135
17,604
13,266
4,243
85
8,661
8,648
13
276
32,433
8,383
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
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.
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 • March 2006
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averages of biweekly averages
Reserve classification
1
2
3
4
5
6
7
8
9
111
11
Reserve balances with Reserve Banks2
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Primary
Seasonal
2005
2003
2004
2005
Dec.
Dec.
Dec.
June'
July'
Aug.'
Sept.'
Oct.'
Nov.'
Dec.
10,863
44,063
32,086
11,976
42,949
41,906
1,043
12,046
47,264
34,800'
12,463
46,847
44,938
1,909
9,541
51,302
35,368
15,934
44,909
42,960
1,949
11,220
46,280
34,876
11,404
46,096
44,320
1,776
10,851
47,278
35,617
11,662
46,468
44,733
1,736
10,346
48,159
34,516
13,643
44,862
43,238
1,623
11,140
47,282
34,472
12,809
45,612
43,568
2,044
9,630
49,515
34,483
15,032
44,113
42,216
1,897
9,500
49,202
34,497
14,705
43,997
42,201
1,796
9,541
51,302
35,368
15,934
44,909
42,960
1,949
169
97
0
72
249
85
0
164
425
176
12
237
362
63
3
297
332
12
5
315
284
35
29
220
126
20
0
106
169
97
0
72
46
17
0
29
63
11
0
52
B weekly averages of daily figures for two-week periods ending on dates indicated
2005
1
?.
3
4
5
6
7
8
9
111
11
2
Reserve balances with Reserve Banks
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Primary
Seasonal
2006
Aug. 31'
Sept. 14
Sept. 28'
Oct. 12'
Oct. 26'
Nov. 9'
Nov. 23'
Dec. 7'
Dec. 21
Jan. 4
11,650
47,212
35,621
11,591
47,271
45,460
1,811
9,572
46,886
32,454
14,432
42,026
40,252
1,774
12,961
47,302
36,734
10,568
49,695
47,417
2,278
9,372
49,917
32,769
17,148
42,141
39,847
2,294
9,933
49,438
35,963
13,475
45,895
44,180
1,715
9,404
48,765
34,453
14,312
43,857
42,405
1,452
9,427
49,695
34,421
15,275
43,847
41,754
2,093
9,769
48,779
34,707
14,073
44,476
42,834
1,642
8,693
51,590
34,302
17,289
42,995
41,242
1,752
10,569
52,666
37,324
15,342
47,893
45,455
2,438
333
11
0
322
317
12
0
305
336
7
0
415
59
76
280
224
25
0
199
137
4
0
132
135
35
0
100
95
12
0
83
259
188
0
71
95
29
0
66
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
adj usted.
2. Excludes required clearing balances and adjustments to compensate for float and
includes other off-balance-sheet "as-of' adjustments.
3. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by
those banks and thrift institutions that are not exempt from reserve requirements. Dates
refer to the maintenance periods in which the vault cash can be used to satisfy reserve
requirements.
4. All vault cash held during the lagged computation period by "bound" institutions (that
is, those whose required reserves exceed their vault cash) plus the amount of vault cash
applied during the maintenance period by "nonbound" institutions (that is, those whose vault
cash exceeds their required reserves) to satisfy current reserve requirements.
5. Total vault cash (line 2) less applied vault cash (line 3).
6. Reserve balances with Federal Reserve Banks (line 1) plus applied vault cash (line 3).
7. Total reserves (line 5) less required reserves (line 6).
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
3/24/06
Effective date
Previous rate
On
3/24/06
Effective date
Previous rate
On
3/24/06
Effective date
Previous rate
5.50
1/31/06
1/31/06
1/31/06
1/31/06
1/31/06
1/31/06
5.25
6.00
1/31/06
1/31/06
1/31/06
1/31/06
1/31/06
1/31/06
5.75
4.70
3/16/06
4.65
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
1/31/06
2/1/06
2/2/06
1/31/06
1/31/06
1/31/06
i
5.50
5.25
6.00
i
1/31/06
2/1/06
2/2/06
1/31/06
1/31/06
1/31/06
1
5.75
1
4.70
3/16/06
4.65
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
2004—June 30
July 1
Aug. 10
11
Sept. 21
22
Nov. 10
12
Dec. 14
15
2.00-2.25
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
2.25
2.25
2.50
2.50
2.75
2.75
3.00
3.00
3.25
3.25
2005—Feb.
3.25-3.50
3.50
Effective date
In effect Jan. 9,2003
(beginning of program)
2
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2005—Feb. 3
Mar. 22
24
May 3
4
June 30
July 1
Aug. 9
10
Sept. 20
22
Nov. 1
2
Dec. 13
14
3.50
3.50-3.75
3.75
3.75^.00
4.00
4.00^.25
4.25
4.25^.50
4.50
4.50^.75
4.75
4.75-5.00
5.00
5.00-5.25
5.25
3.50
3.75
3.75
4.00
4.00
4.25
4.25
4.50
4.50
4.75
4.75
5.00
5.00
5.25
5.25
2006—Jan. 31
Feb. 2
5.25-5.50
5.50
5.50
5.50
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.50
5.50
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2001—June 27
29
Aug. 21
23
Sept. 17
18
Oct. 2
4
Nov. 6
8
Dec. 11
13
3.25-3.50
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
Effective date
In effect March 24, 2006
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 very short terms as a backup source of liquidity to depository institutions
that are in generally sound financial condition in the judgment of the lending Federal Reserve
Bank.
2. Available in appropriate circumstances to depository institutions that do not qualify for
primary credit.
3. Available to help relatively small depository institutions meet regular seasonal needs for
funds that arise 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^.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
Effective date
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 depository institutions meet temporary
needs for funds that could not be met through reasonable alternative sources. For earlier data,
see the following publications of the Board of Governors: Banking and Monetary Statistics,
1914-1941, and 1941-1970; 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 • March 2006
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Net transaction accounts^
1 $0 million-$7.8 million2
2 More than $7.8 million-$48.3 million3
3 More than $48.3 million
Percentage of
liabilities
0
10
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.
Effective date
12/22/05
12/22/05
12/22/05
For a more detailed description of these deposit types, see Form FR 2900 at
www.federalreserve.gov/boarddocs/reportforms.
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 depository 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 depository institutions.
Policy Instruments
1.17
9
FEDERAL RESERVE OPEN MARKET TRANSACTIONS1
Millions of dollars
Type of transaction
and maturity
May
July
Sept.
U.S. TREASURY SECURITIES2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
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
26 Net change in U.S. Treasury securities . . .
21,421
0
657.931
657,931
0
738,886
738,886
18,138
0
821,685
821,685
0
70,894
70,894
250
0
91,408
91,408
0
87,522
87,522
1,023
0
68,397
68,397
0
489
0
65,570
65,570
0
12,720
0
89,108
-92,075
0
6,565
0
96,433
-103,153
7,994
0
103,380
-118,373
0
0
23,149
-26,036
0
0
7,997
-6,667
1,305
1,298
0
26,261
-18,253
757
0
7,999
-6,585
500
0
11,700
-6,551
0
1,096
0
14,200
-15,297
189
12,748
0
-73,093
88,276
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
2,295
0
-19,402
23,565
0
0
-7,997
6,667
1,390
0
-20,702
16,781
3,635
0
-7,999
6,585
1,693
0
-11,700
6,551
1,096
0
-11,240
13,077
5,074
0
-11,588
3,800
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
-1,277
2,471
340
0
0
0
-2,919
1,472
130
0
0
0
0
0
0
0
800
0
266
2,221
2,280
0
-4,427
0
220
0
-8,938
1,364
0
-10,524
0
0
0
-2,471
785
0
0
0
0
0
-2,640
90
0
0
902
0
0
0
0
0
-3,227
0
54,242
0
0
36,856
0
50,507
0
0
4,953
0
1,375
0
1,305
6,427
0
757
5,847
0
4,118
0
0
3,481
0
189
54,242
36,856
5,670
5,847
1,153,876
1,518,638
1,887,650
186,250
179,000
173,250
173,500
201,750
200,750
200,750
200,750
187,300
197,050
145,250
147,000
140,750
129,500
4,942,131
4,946,691
5,621,153
5,626,285
547,538
546,380
526,972
527,769
531,351
532,647
555,779
554,786
523,085
523,518
509,449
508,709
505,101
508,976
68,438
68,438
4,953
66,899
66,899
0
FEDERAL AGENCY OBLIGATIONS
Outright transactions
Gross purchases
Gross sales
Redemptions
Net change in federal agency obligations . . .
TEMPORARY TRANSACTIONS
Repurchase agreements3
Gross purchases
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
37 Net change in temporary transactions
-8,653
-310
-15,882
8,408
-1,047
-297
993
-10,183
-1,010
7,375
38 Total net change in System Open Market Account
45,589
36,536
34,626
13,361
-977
-297
6,662
^1,336
3,108
10,667
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
1.18
Federal Reserve Bulletin Statistical Supplement • March 2006
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
Consolidated condition statement
ASSETS
11,037
2,200
684
779,504
744,168
744,168
271,270
449,595
19,983
3,319
0
35,250
86
6,976
1,846
35,505
18,736
16,769
11,037
2,200
695
776,298
744,179
744,179
271,270
449,595
19,983
3,330
0
32,000
119
8,103
1,849
35,768
18,596
17,172
11,037
2,200
711
772,528
744,189
744,189
271,270
449,595
19,983
3,341
0
28,250
89
8,528
1,848
36,810
19,171
17,639
11,037
2,200
704
789,275
744,200
744,200
271,270
449,595
19,983
3,351
0
45,000
75
9,117
1,856
36,842
18,928
17,913
11,037
2,200
688
789,574
744,210
744,210
271,270
449,595
19,983
3,362
0
45,250
114
7,750
1,826
37,339
18,973
18,366
11,037
2,200
733
764,754
740,595
740,595
270,781
446,792
19,983
3,038
0
24,000
159
2,816
1,845
38,064
19,125
18,938
11,037
2,200
684
779,504
744,168
744,168
271,270
449,595
19,983
3,319
0
35,250
86
6,976
1,846
35,505
18,736
16,769
11,039
2,200
686
791,036
744,215
744,215
271,270
449,595
19,983
3,366
0
46,750
72
5,930
1,823
37,496
18,928
18,568
837,752
835,951
833,661
851,030
850,414
821,448
837,752
850,211
744,567
30,055
25,174
20,204
4,634
82
255
6,091
4,231
743,496
27,792
25,626
20,188
5,076
81
281
7,105
4,335
746,571
26,575
21,546
16,228
4,990
84
244
6,179
4,381
752,969
26,762
32,061
26,405
5,290
86
280
7,103
4,354
759,246
30,372
21,666
17,062
4,243
85
276
6,697
4,419
732,641
26,180
28,336
22,221
5,712
88
315
2,471
4,062
744,567
30,055
25,174
20,204
4,634
82
255
6,091
4,231
758,358
30,505
25,843
19,043
4,573
83
2,144
5,039
4,014
810,118
808,352
805,252
823,249
822,400
793,690
810,118
823,759
30 Capital paid in
31 Surplus
32 Other capital accounts
13,501
11,630
2,503
13,523
11,630
2,446
13,530
11,630
3,250
13,536
11,629
2,617
13,536
11,630
2,849
13,454
11,630
2,675
13,501
11,630
2,503
13,536
12,916
0
33 Total capital
27,634
28,409
27,781
1,510,793
1,102,760
408,033
2,115
1,516,044
1,100,624
415,420
2,717
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Gold certificate account
Special drawing rights certificate account . . . .
Coin
Securities, repurchase agreements, and loans .
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3 . .
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans
Items in process of collection
Bank premises
Other assets
Denominated in foreign currencies'"
All other7
19 Total assets .. .
LIABILITIES
20
21
22
23
24
25
26
27
28
Federal Reserve notes, net of F.R. Bank holdings
Reverse repurchase agreements5
Deposits
Depository institutions
U.S. Treasury, general account
Foreign official
Other
Deferred availability cash items
Other liabilities and accrued dividends9
29 Total liabilities
CAPITAL ACCOUNTS
27,634
MEMO
34 Marketable securities held in custody for foreign officit
and international accounts3'10
35
U.S. Treasuiy
36
Federal agency
37 Securities lent to dealers
1,506,953
1,101,226
405,727
5,052
1,512,011
1,105,026
406,985
3,377
1,522,015
1,100,594
421,421
1,490
1,476,100
1,084,172
391,928
3,386
1,506,953
1,101,226
405,727
5,052
1,523,963
1,095,984
427,979
3,776
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
899,790
902,011
905,201
908,267
907,100
892,900
899,790
906,510
155,223
744,567
744,567
11,037
2,200
731,330
0
158,515
743,496
743,496
11,037
2,200
730,259
0
158,630
746,571
746,571
11,037
2,200
733,334
0
155,298
752,969
752,969
11,037
2,200
739,732
0
147,854
759,246
759,246
11,037
2,200
746,009
0
160,259
732,641
732,641
11,037
2,200
719,404
0
155,223
744,567
744,567
11,037
2,200
731,330
0
148,152
758,358
758,358
11,039
2,200
745,119
0
779,418
776,179
772,439
789,200
789,460
764,595
779,418
790,965
30,092
27,826
26,640
26,791
30,401
26,370
30,092
30,559
749,326
748,353
745,800
762,409
759,059
738,225
749,326
760,406
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.
11. Includes face value of U.S. Treasury and agency securities held outright, compensation
to adjust for the effect of inflation on the original face value of inflation-indexed securities,
and cash value 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
Dec. 14
Dec. 21
86
1 Total loans
58
28
0
60
59
0
25
64
72
3
114
0
0
100
59
58
61
11
0
744,168
744,179
744,189
744,200
744,210
740,595
744,168
744,215
48,773
163.763
187,020
210,726
56,690
77,194
48,431
164,342
186,784
210,730
56,692
77,199
48,464
164,480
186,613
210,735
56,694
77,204
56,415
156,706
186,436
210,739
56,696
77,208
57,172
155,859
186,525
210,743
56,698
77,213
41,252
168,229
189,776
210,643
52,614
78,080
48,773
163,763
187,020
210,726
56,690
77,194
41,010
172,264
186,283
210,745
56,699
77,215
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
0
19 Total repurchase agreements2
35,250
32,000
28,250
45,000
45,250
24,000
35,250
46,750
20 Within 15 days
35,250
0
32,000
0
23,250
5,000
45,000
0
45,250
0
24,000
0
35,250
0
46,750
0
26,575
26,762
26,575
0
26,762
0
30,372
0
26,180
0
2 Within 15 days
3 16 days to 90 days
4 91 days to 1 year
5 Total U.S. Treasury securities'
6
7
8
9
10
11
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
12 Total federal agency securities
13
14
15
16
17
18
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
21 16 days to 90 days
22 Total reverse repurchase agreements"
30,055
30,055
27,792
0
23 Within 15 days
24 16 days to 90 days
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.
30,055
30,055
0
30,505
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • March 2006
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2002
Dec.
2003
Dec.
2004
Dec.
2005
Dec.
May'
July'
Aug.
Sept.'
44.54
44.18
42.92
774.71
45.72
45.38
43.67
777.79
44.78
44.50
42.89
780.06
44.71
44.59
42.92
783.67
44.80
44.63
42.85
786.35
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
40.44
40.36
38.43
681.39
42.77
42.73
41.73
720.10
46.80
46.73
44.89
758.97
44.80
44.63
42.85
786.35
45.88
45.74
44.35
768.13
46.68
46.43
44.90
771.11
46.10
45.67
44.36
772.85
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
40.13
40.05
38.12
686.23
42.45
42.41
41.41
725.21
46.52
46.46
44.61
764.66
44.73
44.56
42.78
792.93
46.38
46.24
44.85
766.91
45.99
45.74
44.21
770.88
46.34
45.91
44.60
773.66
44.70
44.34
43.08
773.66
45.44
45.10
43.39
776.97
43.91
43.63
42.02
777.68
43.77
43.64
41.97
783.37
44.73
44.56
42.78
792.93
40.27
40.19
38.26
697.15
2.01
.08
42.95
42.90
41.91
737.62
1.04
.05
46.85
46.78
44.94
774.77
1.91
.06
44.91
44.74
42.96
801.80
1.95
.17
46.47
46.34
44.94
775.65
1.53
.14
46.10
45.85
44.32
779.53
1.78
.25
46.47
46.04
44.73
782.49
1.74
.43
44.86
44.50
43.24
782.66
1.62
.36
45.61
45.28
43.57
785.66
2.04
44.11
43.83
42.22
786.53
1.90
.28
44.00
43.87
42.20
792.31
1.80
.13
44.91
44.74
42.96
801.80
1.95
.17
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS9
9
10
11
12
13
14
Total reserves10
Nonborrowed reserves
Required reserves
Monetary base1'
Excess reserves'2
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 nonborrowed reserves equal seasonally adjusted,
break-adjusted total reserves (line 1) less total borrowings of depository 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.
11. 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 MEASURES1
Billions of dollars, averages of daily figures
2002
Dec.
2003
Dec.
2004
Dec/
2005
Dec.
Sept.r
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,219.0'
5.800.6'
8,568.0'
1,304.2
6,079.6'
8,872.3'
1,372.1
6,421.9
9,433.0
1,368.5
6,674.1
10,150.1
1,367.6
6,596.6
9,950.8
1,369.4
6,625.3
10,030.9
1,370.0
6,646.5
10,076.0
1,368.5
6,674.1
10,150.1
626.2
7.8
306.0'
279.1
662.3
7.7
324.6'
309.5
697.3
7.6
340.3
327.0
723.8
7.3
320.6
316.9
716.1
7.3
324.4
319.7
717.5
7.3
326.2
318.4
720.3
7.3
323.4
319.0
723.8
7.3
320.6
316.9
4,581.5'
2,767.4'
4,775.4'
2,792.7'
5,049.7
3,011.1
5,305.6
3,476.1
5,229.0
3,354.2
5,255.9
3,405.6
5,276.5
3,429.4
5,305.6
3,476.1
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,060.9
590.1'
698.2'
2,337.9
536.4'
764.5'
2,632.2
545.2
909.3
2,770.0
636.5
1,120.4
2,725.6
625.6
1,076.6
2,739.6
623.6
1,097.4
2,748.3
629.0
1,100.4
2,770.0
636.5
1,120.4
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
717.9
302.4
117.5
831.5
273.4
120.7
887.5
271.6
161.5
850.8
337.5
230.7
859.4
315.3
216.1
857.6
327.8
224.0
855.5
334.5
229.9
850.8
337.5
230.7
910.2
1,247.7
796.2'
1,117.5'
713.3
1,068.7
710.9
1,136.8
703.0
1,107.9
707.2
1,119.8
709.3
1,121.1
710.9
1,136.8
473.4
230.7
494.8
295.3
492.6
379.1
564.3
423.9
534.2
419.5
545.4
419.0
555.3
422.6
564.3
423.9
4
5
6
7
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Nontransaction components
8 In M27
9 In M3 onlys
Money market mutual funds
16 Retail12
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
Not seasonally adjusted
Measures2
20 Ml
21 M2
22 M3
1,245.0'
5,832.3'
8,633.5'
1,332.1
6,112.0'
8,927.8'
1,401.3
6,456.7
9,482.2
1,396.5
6,711.6
10,197.5
1,356.2
6,593.8
9,938.6
1,359.0
6,619.0
10,004.6
1,368.1
6,659.8
10,074.7
1,396.5
6,711.6
10,197.5
630.3
7.7
323.3'
283.8
666.7
7.6
342.8
702.4
7.5
358.8
332.6
729.2
7.2
337.8
322.3
714.3
7.4
319.4
315.1
715.7
7.2
322.2
313.8
720.5
7.1
324.1
316.3
729.2
7.2
337.8
322.3
Nontransaction components
27 In M27
28 In M3 onlys
4,587.2'
2,801.3'
4,779.9'
2,815.9'
5,055.4
3,025.4
5,315.1
3,485.9
5,237.6
3,344.8
5,260.0
3,385.6
5,291.7
3,414.8
5,315.1
3,485.9
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
2,061.6
590.2'
697.4'
2,337.9
536.2'
760.9'
2,633.4
544.9
903.3
2,774.3
635.9
2,734.0
625.8
1,078.3
2,745.0
623.3
1,094.6
2,760.0
628.5
1,089.2
2,774.3
635.9
1,112.0
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
718.2
302.4
117.3
831.5
273.3
120.1
887.9
271.4
160.4
852.1
862.1
315.4
216.4
859.3
327.7
223.4
859.2
334.2
227.6
852.1
337.2
229.0
914.8'
1,281.3
800.9'
1,144.4'
717.9
1,090.6
715.7
1,156.8
700.2
1,105.2
704.7
1,113.7
709.8
1,123.2
715.7
1,156.8
476.4
228.8
497.6
292.8
494.6
376.6
566.1
422.0
530.2
414.6
535.3
418.6
553.1
421.9
566.1
422.0
23
24
25
26
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Money market mutual funds
35 Retail12
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appear on following page.
315.0
1,112.0
337.2
229.0
14
Federal Reserve Bulletin Statistical Supplement • March 2006
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 depository institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted 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 depository 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 Ml.
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 depository 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 depository 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 depository
institutions.
4. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers.
Travelers checks issued by depository institutions are included in demand deposits.
5. Demand deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations (excluding those amounts held by
depository institutions, the U.S. government, and foreign banks and official institutions) less
cash items in the process of collection and Federal Reserve float.
6. Consists of NOW and ATS account balances at all depository institutions, credit union
share draft account balances, and demand deposits at thrift institutions.
7. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances.
8. Sum of (1) large time deposits, (2) 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.
11. 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
depository 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 Liabilities1
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Feb.
Aug.
Sept.
Oct.'
2006
2006
2005
2005
Nov.'
Dec'
Jan.'
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Seasonall 1 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 credit3 . . . .
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
22
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)5
6,999.4
2,039.6
1,217.8
821.8
4,959.9'
954.5'
2,600.8'
409.8'
2,191.0'
700.6
220.5
483.4'
293.5
322.7
666.6
7,360.5
2,066.6'
1,175.0'
891.6'
5,293.9'
1,014.1'
2,825.3'
439.4'
2,385.9'
717.2
245.3
492.0'
280.7
324.4
688.7'
7,408.9'
2,078.0'
1,167.0'
910.9'
5,331.0'
1,017.6'
2,841.1'
438.6'
2,402.5'
719.9
246.7
505.6
292.1
327.5
697.6'
7,420.1
2,068.7
1,158.7
910.0
5,351.5
1,025.2
2,865.0
436.8
2,428.2
708.7
241.8
510.7
291.6
316.8
704.3
7,437.2
2,056.9
1,141.1
915.8
5,380.3
1,033.4
2,877.5
436.7
2,440.8
709.1
246.6
513.7
306.5
308.9
707.3
7,479.6
2,041.1
1,132.0
909.1
5,438.5
1,044.9
2,902.6
436.1
2,466.5
704.3
261.5
525.1
277.8
311.1
709.7
7,538.3
2,053.3
1,143.0
910.3
5,485.0
1,066.8
2,927.5
434.7
2,492.8
708.0
252.5
530.1
286.4
317.4
726.1
7,627.5
2,094.8
1,175.7
919.1
5,532.7
1,076.3
2,949.9
432.7
2,517.2
709.4
260.7
536.4
284.7
315.4
760.2
7,588.2
2,075.8
1,160.4
915.4
5,512.4
1,075.4
2,935.7
434.1
2,501.5
706.3
255.0
540.0
286.8
328.0
741.0
7,592.1
2,070.9
1,156.1
914.8
5,521.2
1,072.0
2,944.5
432.9
2,511.6
706.6
262.6
535.6
280.0
315.5
759.2
7,631.0
2,092.6
1,173.0
919.6
5,538.4
1,075.1
2,945.8
432.3
2,513.5
707.6
273.9
536.1
283.1
296.8
767.8
7,637.2
2,103.4
1,186.4
917.1
5,533.8
1,078.8
2,958.4
432.8
2,525.6
705.7
255.3
535.7
284.9
319.5
767.7
8,213.4
8,586.3
8,657.6
8,664.4
8,691.5
8,709.7
8,800.7
8,920.6
8,877.0
8,879.8
8,911.8
8,942.3
5,388.7
677.0
4,711.7
1,223.9
3,487.8
1,595.8
381.1
1,214.7
51.0
480.5
5,655.3
686.5
4,968.8
1,368.0
3,600.9
1,677.0
352.6
1,324.4
63.6
486.1
5,680.5
672.5
5,008.0
1,392.4
3,615.7'
1,686.4
358.5
1,327.9
69.1
503.3'
5,693.3
654.9
5,038.5
1,413.6
3,624.9
1,675.7
351.0
1,324.7
93.1
499.5
5,716.9
668.1
5,048.9
1,409.4
3,639.5
1,701.5
368.5
1,333.0
75.3
500.3
5,734.6
659.3
5,075.3
1,418.1
3,657.2
1,719.4
360.5
1,358.9
72.6
495.2
5,771.0
653.2
5,117.9
1,433.4
3,684.4
1,730.6
378.1
1,352.6
73.9
488.8
5,798.1
654.9
5,143.2
1,456.2
3,687.1
1,766.6
367.5
1,399.1
54.9
500.6
5,780.0
648.1
5,131.9
1,428.6
3,703.3
1,781.2
387.8
1,393.4
54.2
496.9
5,745.4
623.5
5,121.8
1,442.4
3,679.4
1,765.5
366.3
1,399.1
59.1
507.5
5,795.5
648.8
5,146.7
1,460.0
3,686.7
1,761.0
369.7
1,391.3
48.7
503.7
5,809.0
696.9
5,112.1
1,460.1
3,652.0
1,755.7
357.7
1,398.0
70.3
496.2
7,515.8
7,882.0
7,939.4
7,961.6
7,994.1
8,021.9
8,064.3
8,120.1
8,112.3
8,077.5
8,108.9
8,131.3
718.2
702.8
697.4
687.8
736.4
800.5
764.7
802.3
802.9
811.0
697.5
704.3'
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 credit3 . . . .
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)5
Footnotes appear on p. 21.
6,984.8'
2,036.2
1,213.0
823.2
4,948.6'
954.2'
2,595.6'
410.0'
2,185.6'
705.6'
306.1
399.5'
218.5
474.7'
288.5
319.9
661.7
7,346.2
2,065.0'
1,171.1'
893.9'
5,281.2'
1,008.7'
2,827.1'
440.9
2,386.2'
713.8
308.7
405.1
237.8
493.8'
280.3
314.8
690.8'
7,411.0'
2,074.5'
1,160.1'
914.4'
5,336.5'
1,014.1'
2,849.3'
440.5'
2,408.8'
721.3'
311.5
409.9
242.0
509.7
286.5
329.3
700.4'
7,433.6
2,066.8
1,153.8
912.9
5,366.8
1,023.6
2,874.4
437.9
2,436.5
711.3
302.9
408.4
244.1
513.4
288.5
322.2
707.8
7,475.0
2,066.4
1,149.5
916.8
5,408.6
1,033.3
2,896.1
436.8
2,459.4
713.8
309.1
404.7
251.8
513.6
309.8
318.7
710.0
7,527.4
2,049.7
1,135.8
913.9
5,477.7
1,045.3
2,912.8
434.9
2,477.9
716.4
319.9
396.5
273.3
529.9
280.5
330.5
711.2
7,549.9
2,057.1
1,138.5
918.6
5,492.8
1,062.1
2,926.5
432.7
2,493.8
721.6
317.7
403.8
255.6
527.0
281.9
326.8
726.9
7,610.3
2,090.5
1,169.8
920.7
5,519.8
1,076.2
2,943.8
433.0
2,510.8
714.5
305.0
409.5
259.1
526.2
280.8
312.7
755.1
7,591.1
2,076.1
1,155.9
920.2
5,515.0
1,071.7
2,932.9
433.2
2,499.7
718.4
310.0
408.5
258.6
533.3
284.6
323.9
742.7
7,581.6
2,069.4
1,151.1
918.3
5,512.1
1,069.2
2,943.4
433.0
2,510.4
714.4
306.0
408.5
261.5
523.6
275.2
296.8
757.2
7,616.5
2,088.1
1,167.0
921.0
5,528.4
1,075.2
2,942.7
433.3
2,509.4
713.9
307.2
406.7
269.9
526.7
282.4
300.1
764.1
7,606.8
2,099.3
1,180.4
918.9
5,507.6
1,078.6
2,947.3
433.0
2,514.3
709.9
306.1
403.8
248.4
523.4
274.7
328.2
755.1
8,185.7
8,564.0'
8,658.7'
8,684.2
8,745.2
8,781.1
8,818.1
8,891.4
8,875.0
8,843.5
8,896.0
8,897.7
5,391.3
668.7
4,722.5
1,234.5
3,488.0
1,593.9
378.6
1,215.2
55.8
486.8
5,632.9
667.8
4,965.1
1,359.2
3,605.9
1,671.3
354.1
1,317.2
63.5
486.1
5,670.4'
664.5
5,005.8
1,379.1
3,626.8'
1,690.6
358.8
1,331.8
73.6
508.3
5,686.0
653.7
5,032.3
1,395.3
3,637.0
1,672.8
351.1
1,321.7
99.8
506.6
5,728.0
674.2
5,053.8
1,398.9
3,654.9
1,694.0
366.4
1,327.6
87.1
513.0
5,762.1
696.0
5,066.1
1,416.0
3,650.1
1,704.5
359.2
1,345.3
81.8
505.0
5,771.2
665.7
5,105.5
1,446.0
3,659.6
1,727.7
375.3
1,352.4
79.7
494.4
5,802.2
647.1
5,155.2
1,468.9
3,686.3
1,765.1
365.3
1,399.7
61.6
506.9
5,771.9
648.3
5,123.6
1,445.4
3,678.2
1,786.1
385.1
1,401.0
59.5
502.5
5,751.5
601.0
5,150.6
1,459.9
3,690.7
1,761.6
363.3
1,398.3
63.5
512.0
5,810.6
645.8
5,164.8
1,472.3
3,692.5
1,765.4
368.2
1,397.2
55.7
510.5
5,800.0
693.8
5,106.2
1,469.2
3,637.0
1,753.9
355.3
1,398.6
80.9
505.4
7,527.7
7,853.8
7,942.9'
7,965.2
8,022.2
8,053.5
8,073.0
8,135.8
8,120.0
8,088.6
8,142.2
8,140.2
658.0
710.1
715.8
719.0
723.1
727.6
745.1
755.7
755.0
754.9
753.8
757.5
16
Federal Reserve Bulletin Statistical Supplement • March 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES
B. Domestically chartered commercial banks
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Feb.
Aug.
Sept.
Oct.'
2006
2006
2005
2005
Nov.'
Dec'
Jan.'
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Seasonall 1 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 credit3 . . . .
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
22
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)5
6.302.3
1,723.5
1,122.2
601.3
4.578.9'
808.7'
2.582.8'
409.8'
2.173.0'
700.6
107.7
379.0'
251.9
259.2
635.1
6.592.8
1,734.4'
1,089.3
645.1'
4.858.4'
849.3'
2.809.4'
439.4'
2.370.0'
717.2
103.6
378.8'
232.2
263.0
652.1'
6.627.3'
1,730.1'
1,080.8
649.3
4.897.3'
853.3'
2.825.8'
438.6'
2.387.1'
719.9
108.5
389.8'
242.5
267.7
657.4'
6.626.3
1,712.4
1,075.5
636.9
4.913.9
861.1
2.845.2
436.8
2.408.4
708.7
104.4
394.5
244.4
260.5
665.2
6.631.6
1,697.1
1.058.9
638.2
4.934.5
869.0
2.856.8
436.7
2.420.1
709.1
109.1
390.4
260.9
254.5
666.6
6.672.1
1,689.9
1.053.6
636.3
4.982.3
876.6
2.882.1
436.1
2.446.0
704.3
121.5
397.7
236.7
260.9
671.3
6.732.3
1,713.0
1,070.8
642.2
5.019.3
892.9
2.908.1
434.7
2.473.4
708.0
112.4
397.8
245.9
267.1
691.5
6.815.6
1,758.8
1,102.1
656.7
5.056.7
900.5
2.930.4
432.7
2.497.6
709.4
114.3
402.1
242.9
266.9
722.7
6.772.1
1,734.1
1,084.4
649.7
5.038.0
898.8
2.916.4
434.1
2.482.2
706.3
110.7
405.8
248.6
277.8
705.6
6.781.9
1,735.4
1,083.5
651.8
5.046.5
895.9
2.925.5
432.9
2.492.6
706.6
116.6
402.0
232.2
266.2
718.2
6.818.3
1,758.3
1,100.7
657.7
5.060.0
898.8
2.926.2
432.3
2.493.8
707.6
124.7
402.7
245.7
248.0
730.5
6.821.9
1,766.5
1,112.6
653.9
5.055.3
903.2
2.938.8
432.8
2.506.0
705.7
107.4
400.3
240.8
272.2
731.0
7,380.2""
7,672.5""
7,726.9
7,728.4
7,745.6
7,772.9
7,869.7
7,981.4
7,937.5
7,932.0
7,976.0
7,999.4
4.835.0
663.7
4.171.3
707.5
3.463.8
1,234.7
330.7
904.0
235.9
383.8
5.034.0
674.1
4.359.9
774.2
3.585.7
1,290.3
299.3
991.0
258.3
389.6
5.056.5
660.5
4.396.0
793.2
3.602.8
1,305.7
307.5
998.2
251.8
396.7
5.063.0
643.1
4.419.9
804.7
3.615.2
1,296.3
300.4
995.8
271.7
385.7
5.104.6
656.0
4.448.6
815.8
3.632.7
1,294.8
309.5
985.3
257.3
384.9
5.131.8
647.0
4.484.9
829.6
3.655.2
1,299.1
301.0
998.1
263.4
384.0
5.164.8
640.3
4.524.5
842.0
3.682.5
1,304.1
314.8
989.3
282.9
388.4
5.184.7
640.9
4,543.7
858.6
3.685.2
1,334.9
308.7
1,026.2
269.5
398.3
5.187.2
635.6
4.551.6
850.2
3.701.4
1,336.0
322.2
1,013.9
263.4
394.1
5.138.6
608.7
4.529.9
852.4
3.677.5
1,337.3
309.3
1,028.0
259.6
401.3
5.179.9
635.3
4.544.5
859.7
3.684.8
1,334.9
306.7
1,028.2
264.9
399.2
5.191.7
682.9
4.508.8
858.7
3.650.1
1,326.2
304.7
1,021.5
285.1
395.1
6,689.4
6,972.3
7,010.7
7,016.6
7,041.5
7,078.3
7,140.3
7,187.4
7,180.7
7,136.8
7,178.9
7,198.1
690.8
700.2'
716.2
711.7
704.1
694.6
729.5
794.0
756.8
795.2
797.1
801.2
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)5
Footnotes appear on p. 21.
6,286.0
1,720.1
1.117.4
602.7
4.565.9
806.7'
2.577.5'
410.0'
2.167.5'
1,081.5'
1,086.0'
705.6'
306.1
399.5'
103.6
372.4'
247.0
257.2
628.5
6,587.4
1,732.8'
1.085.5
647.3'
4.854.6'
845.7'
2.811.2'
440.9
2.370.4'
1,189.7
1,180.7'
713.8
308.7
405.1
104.5
379.3'
231.7
253.4
654.5'
6,636.3
1,726.6'
1.073.9'
652.7'
4.909.6
851.4'
2.833.9'
440.5'
2.393.4'
1,193.5'
1,199.9'
721.3'
311.5
409.9
109.9
393.0
236.9
268.3
661.9'
6,643.6
1,710.5
1.070.7
639.8
4.933.1
861.5
2.854.5
437.9
2.416.6
1,201.0
1,215.6
711.3
302.9
408.4
108.0
397.8
241.3
264.9
669.8
6,668.9
1,706.6
1.067.3
639.3
4.962.3
869.7
2.875.5
436.8
2.438.7
1,212.7
1,226.1
713.8
309.1
404.7
110.4
392.9
264.2
264.3
670.0
6,713.7
1,698.5
1.057.4
641.1
5.015.2
875.9
2.892.3
434.9
2.457.4
1,217.6
1,239.7
716.4
319.9
396.5
126.7
403.9
239.4
278.4
672.2
6,740.6
1,716.9
1.066.3
650.5
5.023.7
887.5
2.907.1
432.7
2.474.4
1,220.5
1,253.9
721.6
317.7
403.8
111.4
396.2
241.4
276.8
690.0
6,796.4
1,754.6
1.096.2
658.3
5.041.8
898.3
2.924.3
433.0
2.491.3
1,225.6
1,265.7
714.5
305.0
409.5
110.0
394.7
238.9
264.8
715.4
6,771.0
1,734.4
1,079.9
654.5
5.036.6
894.7
2.913.6
433.2
2.480.4
1,221.4
1,259.1
718.4
310.0
408.5
108.8
401.0
246.4
274.6
704.2
6,769.0
1,733.9
1.078.6
655.4
5.035.1
891.9
2.924.3
433.0
2.491.3
1,230.0
1,261.3
714.4
306.0
408.5
111.7
392.7
227.4
248.4
712.8
6,803.1
1,753.8
1.094.7
659.1
5.049.3
896.3
2.923.1
433.3
2.489.8
1,224.2
1,265.5
713.9
307.2
406.7
119.9
396.2
245.0
251.5
724.6
6,793.2
1,762.4
1.106.6
655.8
5.030.8
900.7
2,927.7
433.0
2.494.7
1,227.7
1,266.9
709.9
306.1
403.8
100.8
391.7
230.7
281.6
717.2
7,350.0""
7,659.4""
7,735.3
7,752.1
7,799.5
7,835.6
7,881.8
7,948.6
7,929.5
7,890.8
7,957.5
7,955.9
4.830.3
655.4
4.174.9
711.3
3.463.6
1,232.8
328.2
904.6
241.1
390.4
5.020.4
655.6
4.364.8
773.8
3.591.0
1,284.7
300.9
983.8
257.8
389.2
5.057.6
652.3
4.405.3
791.2
3.614.1
1,310.0
307.8
1,002.2
254.5
400.3
5.076.5
641.9
4.434.6
807.0
3.627.6
1,293.3
300.5
992.8
275.7
390.4
5.130.6
662.3
4.468.3
820.0
3.648.4
1,287.4
307.4
979.9
266.1
395.3
5.162.8
683.2
4.479.6
831.5
3.648.2
1,284.2
299.6
984.6
271.0
392.7
5.157.1
652.5
4.504.6
847.0
3.657.6
1,301.2
312.1
989.0
287.9
393.4
5.180.7
633.1
4.547.6
863.2
3.684.4
1,333.4
306.6
1,026.9
276.6
405.0
5.167.4
635.5
4.532.0
855.7
3.676.3
1,340.9
319.5
1,021.4
269.0
399.9
5.133.3
586.1
4.547.2
858.5
3.688.7
1,333.4
306.3
1,027.2
265.3
406.6
5.188.5
632.2
4.556.3
865.7
3.690.6
1,339.3
305.1
1,034.1
272.4
406.4
5.176.3
679.7
4.496.6
861.6
3.635.0
1,324.4
302.3
1,022.1
295.9
404.5
6,694.6
6,952.0
7,022.3
7,035.9
7,079.3
7,110.8
7,139.5
7,195.8
7,177.3
7,138.8
7,206.5
7,201.1
655.3
707.3
713.0
716.2
720.3
724.8
742.3
752.9
752.2
752.1
751.0
754.7
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
Wednesd ay figures
Monthly averages
Account
Feb.'
Aug.'
Sept.'
Oct.'
2006
2006
2005
2005
Nov.'
Dec'
Jan.'
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Seasonall 1 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 credit3 . . . .
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 assets6
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Non transaction
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)5
Footnotes appear on p. 21.
3,553.2
1,006.0
625.4
51.3
574.1
468.5
105.6
380.6
203.3
177.4
34.3
143.1
2,547.1
479.6
1,299.5
293.0
1,006.5
630.3
376.2
391.8
99.8
3,644.7
1,017.2
594.8
46.7
548.1
448.2
99.8
422.4
212.2
210.2
37.8
172.3
2,627.6
493.5
1,380.8
304.2
1,076.6
678.5
398.1
386.2
94.3
3,667.9
1,016.7
588.9
36.8
552.2
450.2
101.9
427.8
213.4
214.3
38.1
176.3
2,651.2
494.2
1,390.0
304.2
1,085.8
680.4
405.4
387.4
98.4
3,676.7
1,009.9
588.2
41.1
547.2
445.1
102.0
421.7
204.0
217.7
37.5
180.2
2,666.8
501.8
1,399.9
305.7
1,094.2
685.3
408.8
385.5
93.9
3,668.1
996.7
572.4
41.5
530.9
435.7
95.2
424.3
203.9
220.4
37.9
182.5
2,671.4
505.7
1,404.9
304.8
1,100.1
691.0
409.1
382.5
98.2
3,702.0
996.9
571.4
31.8
539.6
447.7
91.9
425.5
200.2
225.4
38.6
186.8
2,705.1
513.4
1,415.3
304.5
1,110.8
697.6
413.2
376.7
111.1
3,727.6
1,014.8
587.4
34.6
552.8
470.9
81.9
427.4
203.2
224.2
39.5
184.7
2,712.8
523.7
1,423.4
306.2
1,117.2
698.4
418.8
378.3
101.3
3,791.9
1,054.8
616.0
41.9
574.1
494.0
80.1
438.7
206.0
232.7
41.0
191.7
2,737.1
528.0
1,433.7
304.4
1,129.3
705.4
424.0
383.7
103.2
3,764.4
1,032.8
600.0
43.3
556.7
477.3
79.4
432.9
204.6
228.3
40.0
188.3
2,731.6
528.2
1,431.6
305.8
1,125.9
704.8
421.1
379.2
99.5
3,766.1
1,034.1
598.8
43.2
555.6
476.0
79.6
435.2
205.3
229.9
40.5
189.4
2,732.0
525.4
1,432.3
304.7
1,127.7
706.3
421.3
378.4
105.9
3,799.3
1,054.4
615.2
42.4
572.7
492.1
80.6
439.2
207.4
231.8
40.9
190.9
2,744.9
526.9
1,433.0
304.0
1,129.0
705.1
423.9
382.4
113.5
3,791.2
1,061.6
626.0
41.8
584.2
504.3
79.9
435.5
202.2
233.4
41.2
192.2
2,729.6
529.6
1,437.2
304.2
1,133.1
707.6
425.4
380.7
96.1
77.9
21.9
16.7
9.3
78.6
15.7
17.6
9.2
82.2
16.2
18.2
9.5
77.2
16.7
18.5
9.7
80.8
17.4
18.8
9.7
93.7
17.4
18.9
9.9
84.1
17.2
18.9
9.8
84.8
18.4
19.1
9.8
81.7
17.7
19.1
9.8
86.9
19.0
19.0
9.9
94.4
19.1
19.2
9.8
77.7
18.4
19.2
9.9
27.3
128.0
95.1
172.1
24.7
129.8
91.5
150.1
28.3
133.7
91.4
155.0
31.8
134.9
90.7
150.8
18.7
142.1
90.9
159.5
22.2
146.3
91.3
148.9
21.1
145.4
90.8
150.7
18.1
150.3
91.2
144.0
21.1
152.3
90.7
148.7
18.7
151.4
90.9
139.4
19.7
149.7
90.8
145.2
16.7
148.5
91.7
139.9
107.0
65.0
145.2
458.9
83.9
66.2
144.3
454.3
89.0
66.1
146.8
456.5
86.3
64.5
141.8
465.1
95.3
64.2
137.5
463.7
84.0
64.9
144.9
463.0
82.7
68.0
145.7
469.5
72.6
71.4
143.9
480.0
80.8
67.9
153.1
469.0
66.6
72.8
144.7
480.3
76.1
69.1
129.5
490.3
66.5
73.4
146.1
484.0
4,293.2
4,359.6
4,392.2
4,400.0
4,394.9
4,425.1
4,461.0
4,527.4
4,503.0
4,498.3
4,532.2
4,529.0
2,473.3
322.8
2,150.5
337.8
1,812.7
740.4
165.6
574.8
227.0
314.8
2,539.2
316.9
2,222.3
358.5
1,863.8
773.5
134.8
638.7
244.2
316.7
2,546.4
311.5
2,234.9
372.7
1,862.2
778.5
139.5
639.0
238.6
323.0
2,548.9
298.7
2,250.1
375.1
1,875.0
781.1
135.6
645.5
256.2
312.8
2,575.1
304.2
2,270.8
380.5
1,890.3
776.9
139.7
637.2
243.8
310.9
2,607.9
310.8
2,297.1
398.0
1,899.0
784.5
136.6
647.9
249.3
310.5
2,614.5
303.5
2,311.0
403.5
1,907.5
779.4
145.6
633.8
264.4
311.2
2,605.3
298.2
2,307.0
412.3
1,894.7
809.6
145.5
664.1
249.8
317.5
2,626.9
301.4
2,325.5
409.7
1,915.8
808.4
152.8
655.6
243.7
313.9
2,581.2
278.3
2,302.9
408.5
1,894.4
810.6
146.5
664.1
241.7
321.3
2,603.6
293.9
2,309.7
414.8
1,894.9
810.9
145.3
665.7
245.6
319.2
2,601.1
323.3
2,277.9
411.1
1,866.8
798.1
139.4
658.7
262.3
313.2
3,755.6
3,873.7
3,886.4
3,898.9
3,906.7
3,952.1
3,969.5
3,982.2
3,992.8
3,954.8
3,979.4
3,974.7
537.6
485.9
505.7
501.1
488.2
472.9
491.6
545.2
510.3
543.5
552.8
554.2
18
Federal Reserve Bulletin Statistical Supplement • March 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities' —Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Feb.'
Aug.'
Sept.'
Oct.'
2006
2006
2005
2005
Nov.'
Dec'
Jan.'
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Not seasona lly 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 assets8
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)5
Footnotes appear on p. 21.
3,538.2
1,002.9
620.8
51.7
569.1
462.8
106.3
382.0
204.0
178.0
34.4
143.6
2,535.4
477.6
1,294.8
293.5
1,001.3
627.0
374.3
395.0
153.0
242.0
95.7
3,644.0
1,018.8
594.2
46.5
547.7
448.2
99.5
424.6
213.3
211.3
38.0
173.2
2,625.2
491.8
1,382.4
305.4
1,076.9
678.7
398.2
384.5
142.8
241.7
95.1
3,673.6
1,016.3
585.1
36.4
548.7
447.9
100.8
431.2
215.1
216.1
38.4
177.7
2,657.3
494.4
1,392.0
305.3
1,086.8
681.0
405.8
388.3
143.2
245.2
99.9
3,684.2
1,009.2
584.6
40.3
544.2
444.2
100.1
424.6
205.4
219.2
37.8
181.4
2,675.0
503.0
1,400.8
306.1
1,094.7
685.7
409.0
385.8
142.0
243.9
97.5
3,688.6
1,007.5
582.1
41.9
540.3
444.1
96.1
425.4
204.4
220.9
38.0
182.9
2,681.1
507.6
1,409.0
304.9
1,104.1
693.6
410.5
383.1
142.2
240.9
99.3
3,724.2
1,002.6
572.3
31.8
540.5
448.5
92.0
430.4
202.4
227.9
39.0
188.9
2,721.5
512.5
1,417.4
303.8
1,113.6
699.4
414.3
380.8
147.9
232.9
116.3
3,732.1
1,019.4
583.6
34.4
549.2
467.8
81.4
435.7
207.2
228.6
40.3
188.3
2,712.7
519.0
1,421.5
304.7
1,116.8
698.1
418.7
385.0
146.7
238.3
100.5
3,774.4
1,051.1
610.7
42.2
568.5
487.8
80.6
440.4
206.8
233.6
41.2
192.4
2,723.4
525.8
1,428.2
304.9
1,123.3
701.6
421.7
386.7
143.7
243.1
99.0
3,760.2
1,034.6
597.0
43.3
553.6
474.1
79.6
437.6
206.8
230.8
40.5
190.3
2,725.6
524.5
1,427.7
305.1
1,122.6
702.7
419.9
384.8
144.4
240.4
97.8
3,752.3
1,033.3
594.5
43.5
551.1
471.1
80.0
438.7
207.0
231.8
40.8
190.9
2,719.0
521.9
1,430.4
305.0
1,125.4
704.9
420.5
382.7
142.6
240.1
100.9
3,784.8
1,051.4
610.7
42.8
567.9
486.5
81.3
440.7
208.1
232.6
41.1
191.5
2,733.5
524.6
1,429.3
305.2
1,124.1
702.1
422.0
385.9
145.9
239.9
108.6
3,766.5
1,057.9
620.5
42.2
578.3
497.6
80.7
437.4
203.0
234.4
41.3
193.0
2,708.6
527.0
1,428.0
304.9
1,123.2
701.4
421.7
383.4
144.9
238.5
89.7
74.7
21.0
16.7
9.2
79.3
15.8
17.6
9.2
83.4
16.5
18.2
9.5
80.2
17.3
18.5
9.7
81.7
17.6
18.8
9.8
98.1
18.2
18.9
10.0
83.4
17.1
18.9
9.9
81.3
17.6
19.1
9.7
80.4
17.4
19.1
9.7
82.8
18.1
19.0
9.8
90.4
18.3
19.2
9.7
72.5
17.1
19.2
9.7
27.3
124.2
94.8
166.9
24.7
128.5
91.3
150.2
28.3
135.1
91.4
151.1
31.8
136.5
91.3
146.6
18.7
143.6
91.2
161.1
22.2
152.1
91.2
152.0
21.1
145.6
91.2
150.2
18.1
145.8
91.0
139.9
21.1
150.2
90.7
150.1
18.7
144.9
90.7
133.7
19.7
146.1
90.5
144.1
16.7
143.6
91.3
132.5
103.8
63.1
145.1
452.3
83.9
66.3
136.5
456.8
86.7
64.4
146.1
461.0
84.0
62.7
144.6
469.8
96.3
64.9
143.4
467.1
85.8
66.2
157.7
463.9
82.4
67.8
154.1
468.0
70.6
69.3
143.9
472.7
81.6
68.5
152.8
467.7
63.9
69.8
134.1
474.9
75.5
68.6
133.9
484.4
63.0
69.5
153.3
470.3
4,266.1
4,353.4
4,397.6
4,411.3
4,426.4
4,464.0
4,472.0
4,498.3
4,498.3
4,462.5
4,514.8
4,490.2
2,478.9
319.1
2,159.8
341.5
1,818.2
738.5
163.2
575.3
232.2
321.4
2,529.6
302.7
2,226.9
358.0
1,868.8
767.8
136.3
631.5
243.6
316.4
2,548.7
305.0
2,243.6
370.7
1,872.9
782.7
139.8
642.9
241.2
326.6
2,560.2
296.2
2,264.0
377.4
1,886.6
778.2
135.7
642.5
260.1
317.5
2,588.8
307.1
2,281.8
384.6
1,897.1
769.5
137.6
631.8
252.6
321.3
2,626.0
334.3
2,291.7
399.9
1,891.8
769.6
135.3
634.4
256.9
319.2
2,612.7
311.9
2,300.8
408.5
1,892.3
776.4
142.8
633.6
269.3
316.2
2,612.0
294.8
2,317.1
417.0
1,900.1
808.1
143.3
664.8
257.0
324.2
2,620.2
302.1
2,318.0
415.2
1,902.8
813.3
150.1
663.2
249.3
319.7
2,585.0
263.6
2,321.4
414.6
1,906.7
806.7
143.5
663.2
247.4
326.6
2,621.2
294.8
2,326.4
420.8
1,905.6
815.3
143.7
671.6
253.1
326.3
2,601.1
323.8
2,277.4
414.0
1,863.4
796.2
136.9
659.3
273.1
322.6
3,771.1
3,857.4
3,899.1
3,916.0
3,932.2
3,971.7
3,974.6
4,001.2
4,002.4
3,965.8
4,015.9
3,993.1
495.0
496.0
498.5
495.3
494.2
492.3
497.4
497.1
495.9
496.8
498.8
497.1
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
Wednesd ay figures
Monthly averages
Account
Feb.'
Aug.'
Sept.'
Oct.'
2006
2006
2005
2005
Nov.'
Dec'
Jan.'
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Seasonall { 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 credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Non transaction
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)5
2,751.1
719.4
498.7
220.7
2,031.7
329.1
1,283.3
116.8
1,166.5
308.8
7.9
102.6
79.9
114.0
176.2
2,946.3
715.6
492.8
222.7
2,230.8
355.8
1,428.6
135.2
1,293.4
330.9
9.3
106.1
82.1
118.7
197.7
2,956.7
710.6
489.1
221.5
2,246.1
359.1
1,435.8
134.5
1,301.3
332.5
10.1
108.6
87.5
120.8
200.9
2,949.8
702.6
487.4
215.2
2,247.1
359.3
1,445.3
131.1
1,314.2
323.3
10.5
108.7
93.6
118.7
200.1
2,962.0
698.9
485.0
213.9
2,263.1
363.3
1,452.0
132.0
1,320.0
326.6
10.9
110.2
101.4
116.9
202.9
2,969.2
692.0
481.3
210.7
2,277.2
363.2
1,466.8
131.6
1,335.2
327.6
10.4
109.2
87.8
116.0
208.3
3,003.9
697.4
482.6
214.8
2,306.5
369.2
1,484.7
128.5
1,356.2
329.8
11.2
111.7
95.2
121.4
222.0
3,025.1
705.5
487.5
218.0
2,319.6
372.5
1,496.7
128.4
1,368.3
325.8
11.1
113.5
98.8
123.0
242.7
3,008.1
701.7
484.8
216.8
2,306.4
370.6
1,484.7
128.3
1,356.4
327.1
11.2
112.8
99.9
124.7
236.6
3,016.2
701.6
485.0
216.6
2,314.5
370.5
1,493.1
128.2
1,364.9
328.1
10.7
112.1
92.8
121.5
237.9
3,019.7
704.7
486.3
218.4
2,315.1
371.9
1,493.2
128.4
1,364.9
325.2
11.2
113.6
100.5
118.5
240.2
3,033.1
707.4
489.0
218.4
2,325.7
373.6
1,501.5
128.6
1,372.9
324.9
11.4
114.3
100.9
126.1
246.9
3,088.9
3,311.2
3,332.0
3,328.6
3,349.2
3,346.9
3,407.9
3,455.4
3,434.9
3,434.1
3,444.6
3,472.8
2,361.7
340.8
2,020.8
369.7
1,651.1
494.3
165.0
329.2
8.9
69.0
2,494.8
357.2
2,137.6
415.7
1,721.9
516.8
164.5
352.3
14.1
72.9
2,510.1
349.0
2,161.1
420.5
1,740.6
527.3
168.0
359.2
13.3
73.7
2,514.1
344.4
2,169.7
429.6
1,740.1
515.1
164.8
350.3
15.5
72.9
2,529.5
351.8
2,177.7
435.3
1,742.4
517.9
169.8
348.1
13.5
74.0
2,524.0
336.2
2,187.8
431.6
1,756.2
514.6
164.4
350.2
14.1
73.5
2,550.3
336.9
2,213.4
438.4
1,775.0
524.7
169.3
355.5
18.6
77.2
2,579.4
342.7
2,236.7
446.2
1,790.5
525.3
163.3
362.0
19.6
80.9
2,560.3
334.2
2,226.1
440.4
1,785.6
527.7
169.4
358.3
19.7
80.2
2,557.4
330.4
2,227.0
443.9
1,783.1
526.7
162.7
364.0
17.9
80.0
2,576.2
341.4
2,234.8
444.9
1,789.9
523.9
161.4
362.5
19.3
80.1
2,590.6
359.7
2,230.9
447.6
1,783.3
528.1
165.4
362.8
22.8
81.9
2,933.8
3,098.6
3,124.3
3,117.7
3,134.8
3,126.2
3,170.8
3,205.2
3,188.0
3,182.0
3,199.5
3,223.4
155.1
212.6
207.7
210.9
214.4
220.7
237.1
250.2
247.0
252.1
245.1
249.4
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 assets56
Other assets
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Non transaction
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)5
Footnotes appear on p. 21.
2,747.8
717.2
496.6
220.7
2,030.6
329.1
1,282.7
116.5
1,166.2
454.4
711.7
310.7
153.1
157.6
7.9
100.2
80.1
112.1
176.2
2,943.4
714.0
491.3
222.7
2,229.4
353.9
1,428.9
135.4
1,293.4
511.0
782.5
329.3
165.9
163.3
9.4
108.0
81.6
116.9
197.7
2,962.7
710.3
488.8
221.5
2,252.4
357.0
1,441.9
135.2
1,306.7
512.5
794.2
333.0
168.3
164.7
10.0
110.4
85.8
122.2
200.9
2,959.4
701.3
486.1
215.2
2,258.1
358.5
1,453.7
131.8
1,321.9
515.3
806.6
325.5
161.0
164.5
10.5
109.9
94.6
120.2
200.1
2,980.3
699.1
485.2
213.9
2,281.2
362.1
1,466.5
131.8
1,334.6
519.1
815.5
330.7
166.9
163.8
11.1
110.8
103.1
120.8
202.9
2,989.5
695.8
485.1
210.7
2,293.7
363.3
1,474.9
131.1
1,343.8
518.3
825.5
335.5
172.0
163.6
10.4
109.5
87.4
120.7
208.3
3,008.5
697.5
482.7
214.8
2,311.0
368.5
1,485.6
128.0
1,357.6
522.4
835.2
336.6
171.1
165.5
10.8
109.4
91.2
122.7
222.0
3,021.9
703.5
485.5
218.0
2,318.4
372.5
1,496.1
128.1
1,368.0
524.0
844.0
327.8
161.4
166.4
11.1
110.9
99.0
121.0
242.7
3,010.8
699.8
482.9
216.8
2,311.0
370.1
1,485.9
128.1
1,357.8
518.6
839.2
333.7
165.6
168.1
11.0
110.2
96.3
121.9
236.6
3,016.7
700.6
484.0
216.6
2,316.1
370.0
1,493.9
128.0
1,365.9
525.1
840.8
331.7
163.3
168.3
10.8
109.6
93.8
114.3
237.9
3,018.3
702.4
484.0
218.4
2,315.9
371.7
1,493.8
128.2
1,365.7
522.1
843.5
328.0
161.3
166.7
11.2
111.1
101.0
117.6
240.2
3,026.7
704.5
486.1
218.4
2,322.2
373.6
1,499.7
128.2
1,371.5
526.3
845.2
326.5
161.2
165.3
11.2
111.2
98.2
128.2
246.9
3,083.9
3,305.9
3,337.7
3,340.8
3,373.2
3,371.6
3,409.8
3,450.3
3,431.2
3,428.3
3,442.7
3,465.7
2,351.4
336.3
2,015.1
369.7
1,645.4
494.3
165.0
329.2
8.9
69.0
2,490.8
352.9
2,137.9
415.7
1,722.2
516.8
164.5
352.3
14.1
72.9
2,509.0
347.3
2,161.7
420.5
1,741.2
527.3
168.0
359.2
13.3
73.7
2,516.3
345.7
2,170.6
429.6
1,741.0
515.1
164.8
350.3
15.5
72.9
2,541.8
355.2
2,186.6
435.3
1,751.2
517.9
169.8
348.1
13.5
74.0
2,536.8
348.9
2,188.0
431.6
1,756.4
514.6
164.4
350.2
14.1
73.5
2,544.4
340.6
2,203.8
438.4
1,765.4
524.7
169.3
355.5
18.6
77.2
2,568.7
338.2
2,230.5
446.2
1,784.3
525.3
163.3
362.0
19.6
80.9
2,547.3
333.4
2,213.9
440.4
1,773.5
527.7
169.4
358.3
19.7
80.2
2,548.3
322.5
2,225.9
443.9
1,782.0
526.7
162.7
364.0
17.9
80.0
2,567.3
337.4
2,229.9
444.9
1,785.0
523.9
161.4
362.5
19.3
80.1
2,575.2
355.9
2,219.3
447.6
1,771.7
528.1
165.4
362.8
22.8
81.9
2,923.5
3,094.6
3,123.2
3,119.9
3,147.1
3,139.1
3,164.9
3,194.5
3,174.9
3,173.0
3,190.6
3,208.1
160.3
211.3
214.5
220.9
226.1
232.5
244.9
255.8
256.3
255.3
252.2
257.7
20
Federal Reserve Bulletin Statistical Supplement • March 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES
E. Foreign-related institutions
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Feb.
Aug.
Sept.
Oct.
2006
2006
2005
2005
Nov.
Dec'
Jan.'
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
13 Total assets7
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)5
697.1
316.1
95.6
220.5
381.0
145.7
18.1
112.8
104.4
41.5
63.5
31.5
767.7
332.2
85.6'
246.6'
435.5
164.7
15.9
141.7
113.2
48.5
61.4
36.7
781.6
347.9
86.2'
261.7'
433.7
164.3
15.4
138.2
115.8
49.6
59.8
40.2
793.8
356.3
83.2'
273.1'
437.6
164.1'
19.9
137.3
116.2'
47.2
56.3
39.1
805.5
359.7
82.2'
277.5'
445.8
164.4'
20.6
137.5
123.3'
45.6
54.5'
40.8
807.5
351.2
78.4
272.8
456.2
168.3
20.5
140.0
127.4
41.1
50.3
38.4
806.0
340.3
72.2
268.1
465.7
173.8
19.4
140.1
132.3
40.6
50.3
34.6
811.9
335.9
73.6
262.3
476.0
175.8
19.5
146.4
134.3
41.8
48.5
37.5
816.1
341.7
76.0
265.7
474.4
176.6
19.3
144.3
134.2
38.2
50.2
35.4
810.2
335.5
72.6
263.0
474.7
176.1
19.0
145.9
133.5
47.8
49.3
41.0
812.8
334.3
72.3
262.0
478.5
176.2
19.6
149.2
133.4
37.4
48.9
37.2
815.3
336.9
73.7
263.1
478.4
175.6
19.6
147.8
135.4
44.1
47.3
36.7
833.2
913.9
930.7
936.0
945.9
936.8
931.0
939.3
939.4
947.8
935.8
942.9
553.7
13.3
540.4
361.1
50.4
310.7
-184.9
96.7
621.3
12.4
608.9
386.7
53.3
333.4
-194.7
96.5
624.0
12.0
612.0
380.7
51.0
329.6
-182.7
106.7
630.3
11.7
618.6
379.5
50.6
328.8
-178.7
113.9
612.4
12.1
600.3
406.7
59.0
347.7
-181.9
115.4
602.8
12.3
590.5
420.3
59.6
360.8
-190.8
111.2
606.2
12.8
593.4
426.5
63.2
363.3
-209.0
100.3
613.4
13.9
599.5
431.6
58.8
372.9
-214.6
102.2
592.8
12.5
580.3
445.1
65.6
379.5
-209.2
102.8
606.8
14.9
591.9
428.2
57.1
371.1
-200.5
106.2
615.6
13.5
602.2
426.1
63.0
363.1
-216.2
104.4
617.3
14.0
603.3
429.5
53.0
376.6
-214.8
101.1
826.5
909.7
928.6
945.0
952.6
943.6
924.1
932.7
931.5
940.6
930.0
933.1
6.7
4.1
2.0
-9.0
-6.7
-6.7
6.9
6.6
7.9
7.1
5.8
9.8
Not seasona lly 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 credit3 . . . .
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)5
Footnotes appear on p. 21.
698.7
316.1
95.6
38.2
57.4
220.5
115.9
104.6
382.6
147.5
18.1
114.8
102.3
41.5
62.6
33.2
758.8
332.2
85.6'
26.5'
59.2
246.6'
137.2'
109.3
426.6
163.0
15.9
133.2
114.5
48.5
61.5
36.3
774.7
347.9
86.2'
26.4'
59.9
261.7'
151.6'
110.1
426.9
162.7
15.4
132.1
116.7
49.6
61.0
38.5
790.0
356.3
83.2'
23.7'
59.5
273.1'
161.9'
111 .2
433.7
162.1'
19.9
136.1
115.6'
47.2
57.4
38.0
806.1
359.7
82.2'
23.8'
58.3
277.5'
163.7'
113.8
446.3'
163.6'
20.6
141.4
120.7'
45.6
54.4
40.0
813.8
351.2
78.4
20.5
57.9
272.8
162.9
109.9
462.5
169.5
20.5
146.5
126.0
41.1
52.1
39.0
809.3
340.3
72.2
18.3
53.9
268.1
162.1
106.0
469.0
174.6
19.4
144.2
130.8
40.6
49.9
36.9
813.9
335.9
73.6
23.3
50.3
262.3
158.7
103.6
478.0
177.9
19.5
149.0
131.6
41.8
47.9
39.6
820.1
341.7
76.0
23.3
52.7
265.7
162.9
102.8
478.4
177.0
19.3
149.8
132.3
38.2
49.2
38.4
812.6
335.5
72.6
22.8
49.8
263.0
160.9
102.1
477.1
177.3
19.0
149.8
130.9
47.8
48.4
44.3
813.4
334.3
72.3
21.7
50.6
262.0
158.0
103.9
479.1
178.9
19.6
150.0
130.5
37.4
48.6
39.5
813.7
336.9
73.7
23.5
50.3
263.1
158.9
104.2
476.8
177.9
19.6
147.6
131.6
44.1
46.7
37.9
835.8
904.6
923.3
932.1
945.7
945.5
936.3
942.8
945.5
952.7
938.5
941.9
561.0
13.3
547.6
361.1
50.4
310.7
-185.3
96.4
612.6
12.2
600.3
386.7
53.3
333.4
-194.3
96.8
612.7
12.2
600.5
380.7
51.0
329.6
-180.9
108.1
609.5
11.8
597.7
379.5
50.6
328.8
-175.9
116.2
597.4
12.0
585.5
406.7
59.0
347.7
-179.0
117.8
599.2
12.8
586.4
420.3
59.6
360.8
-189.2
112.3
614.1
13.2
600.9
426.5
63.2
363.3
-208.2
101.0
621.5
14.0
607.5
431.6
58.8
372.9
-215.0
101.9
604.5
12.8
591.6
445.1
65.6
379.5
-209.5
102.6
618.2
14.9
603.3
428.2
57.1
371.1
-201.8
105.3
622.1
13.6
608.5
426.1
63.0
363.1
-216.7
104.1
623.6
14.1
609.6
429.5
53.0
376.6
-215.0
100.9
833.1
901.8
920.5
929.2
942.9
942.7
933.5
940.0
942.7
949.9
935.7
939.0
2.7
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
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
2005
Feb.
2005
Aug.
Sept.
Oct.
2006
2006
Nov.'
Dec'
Jan.'
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
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
89.3
89.7
92.5
90.8'
91.7
86.2
91.1
94.1
92.8
93.6
94.4
91.6
78.8
541.7'
419.7'
122.0'
79.7
543.6'
416.4'
127.2'
83.3
545.7'
416.7'
129.0'
82.2
545.4'
414.7'
130.7'
80.6
549.2
415.1
134.1
76.5
551.0
415.5
135.5
82.0
559.2
426.7
132.5
82.5
576.3
446.9
129.3
84.2
562.0
432.8
129.2
82.9
559.4
430.1
129.4
84.1
575.1
445.7
129.4
82.9
586.0
456.8
129.3
1.1
153.7
134.3
19.4
6.3
-.4'
151.4
130.7
20.7
4.0
-2.6
151.3
130.8
20.5
3.3
-10.1'
152.1
131.8
20.2
3.2
-12.1
155.3
133.1
22.1
3.1
-10.1
164.0
134.6
29.3
3.0
164.1
134.5
29.6
3.0
-in
-8.9
163.1
133.7
29.4
3.0
-9.2
164.2
134.4
29.8
3.0
-8.8
163.7
134.1
29.6
3.0
-9.7
161.0
131.6
29.4
3.0
-8.5
162.9
133.6
29.3
3.0
336.7'
209.7
201.2
8.5
338.3'
212.2'
202.3'
9.9
334.3'
211.7'
201.9
9.9
330.1'
201.9
192.0
9.9
328.3
198.1
188.2
9.8
328.3
203.1
193.3
9.8
332.0
202.0
192.3
9.7
334.4
205.1
195.5
9.6
333.6
204.2
194.6
9.6
333.7
203.9
194.3
9.6
333.7
205.4
195.8
9.6
334.3
205.6
196.0
9.6
53.5
56.8
65.9
70.7
71.5
66.8
61.2
59.7
61.2
59.9
59.2
60.0
64.8
.2
63.2
72.7
.2
78.0
79.9
.2
74.5
.2
67.8
.1
65.3
.1
66.7
.1
65.5
.1
64.8
.1
65.5
.1
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11
securities
12 Mortgage-backed
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
2
2
NOTES: 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-related
institutions). Excludes international banking facilities. Data are Wednesday values or pro rata
averages of Wednesday values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on weekly samples and on
quarter-end condition reports. Data are adjusted for breaks caused by reelassifications 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.
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 carry
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.
11. 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
1.32
Federal Reserve Bulletin Statistical Supplement • March 2006
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2005
Item
2000
2001
2002
2003
2004
June
July
Aug.
Sept.
Oct.
Nov.
1 All issuers
1,619,274
1,458,870
1,347,997
1,265,351
1,387,807
1,537,820
1,543,702
1,580,335
1,605,457
1,620,157
1,645,831
2 Financial companies'
3 Nonfinancial companies2
1,275,841
343,433
1,234,024'
224,847
1,193,950
154,047
1,160,317
105,034
1,268,158
119,649
1,405,057
132,763
1,405,916
137,786
1,441,129
139,206
1,467,324
138,133
1,464,384
155,773
1,490,031
155,800
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
28
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
Aug.
Sept.
Nov.
Dec.
2
22
3
30
9
20
1
13
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
2006—Jan. 31
7.50
Period
Average
rate
2002
2003
2004
2005
4.67
4.12
4.34
6.19
2003 Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.25
4.25
4.25
4.25
4.25
4.22
4.00
4.00
4.00
4.00
4.00
4.00
1. The prime rate is one of several base rates that banks use to price short-term business
loans. The table shows the date on which a new rate came to be the predominant one quoted
by a majority of the twenty-five largest banks by asset size, based on the most recent Call
Period
2004—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
4.00
4.00
4.00
4.00
4.00
4.01
4.25
4.43
4.58
4.75
4.93
5.15
Period
Average
rate
2005—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
5.25
5.49
5.58
5.75
5.98
6.01
6.25
6.44
6.59
6.75
7.00
7.15
2006—Jan
7.26
Report. Data in this table also appear in the Board's H.I 5 (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
2003
2004
2005, week ending
2005
Sept.
Oct.
Nov.
Dec.
Dec. 2
Dec. 9
Dec. 16
Dec. 23
Dec. 30
MONEY MARKET INSTRUMENTS
1 Federal funds1-13
2 Discount window primary credit2-4
1.13
n.a.
1.35
2.34
3.22
4.19
3.62
4.59
3.78
4.75
4.00
5.00
4.16
5.15
4.02
5.00
4.00
5.00
4.19
5.07
4.24
5.25
4.22
5.25
paper3'5'6
Commercial
3
4
5
Nonfinancial
1-month
2-month
3-month
1.11
1.11
1.11
1.38
1.40
1.41
3.22
3.23
3.42
3.64
3.67
3.72
3.84
3.90
4.01
4.01
4.07
4.23
4.23
4.23
n.a.
4.12
n.a.
n.a.
4.18
n.a.
n.a.
4.26
4.20
n.a.
4.26
4.24
n.a.
4.25
n.a.
n.a.
6
7
8
Financial
1-month
2-month
3-month
1.12
1.13
1.13
1.41
1.46
1.52
3.27
3.36
3.44
3.69
3.74
3.79
3.88
3.96
4.05
4.04
4.16
4.23
4.25
4.32
4.37
4.13
4.25
4.30
4.24
4.30
4.34
4.26
4.33
4.39
4.27
4.35
4.39
4.26
4.36
4.41
Certificates of deposit, secondary market3-1
1-month
3-month
6-month
1.15
1.15
1.17
1.45
1.57
1.74
3.34
3.51
3.73
3.74
3.87
4.01
3.95
4.13
4.32
4.11
4.31
4.52
4.32
4.45
4.62
4.25
4.39
4.57
4.31
4.43
4.61
4.32
4.45
4.62
4.33
4.46
4.64
4.35
4.48
4.65
12 Eurodollar deposits, 3-month3>s
1.14
1.55
3.51
3.85
4.13
4.34
4.47
4.41
4.44
4.47
4.49
4.51
US Treasury bills
Secondary market3-5
13
4-week
14
3-month
15
6-month
1.00
1.01
1.05
1.24
1.37
1.58
2.94
3.15
3.39
3.16
3.42
3.67
3.44
3.71
3.99
3.84
3.88
4.15
3.61
3.89
4.18
3.92
3.88
4.16
3.73
3.91
4.16
3.51
3.83
4.17
3.45
3.89
4.20
3.60
3.92
4.20
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
3.62
3.85
3.93
4.05
4.15
4.29
4.64
3.85
3.95
3.96
4.01
4.08
4.20
4.51
4.18
4.27
4.29
4.33
4.38
4.46
4.74
4.33
4.42
4.43
4.45
4.48
4.54
4.83
4.35
4.40
4.39
4.39
4.41
4.47
4.73
4.34
4.41
4.40
4.41
4.43
4.48
4.79
4.35
4.42
4.42
4.43
4.46
4.52
4.80
4.34
4.40
4.39
4.40
4.43
4.49
4.77
4.37
4.40
4.39
4.38
4.39
4.45
4.71
4.36
4.38
4.34
4.33
4.34
4.37
4.60
4.52
5.20
4.75
4.50
5.09
4.68
4.28
4.86
4.40
4.34
4.87
4.29
4.49
4.99
4.49
4.42
4.96
4.57
4.46
4.93
4.46
4.45
4.97
4.53
4.42
4.88
4.49
4.46
4.92
4.48
4.50
4.96
4.42
4.45
4.91
4.38
6.24
6.00
5.57
5.47
5.72
5.80
5.76
5.78
5.82
5.80
5.73
5.64
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
5.23
5.37
5.59
6.06
5.13
5.24
5.50
6.03
5.35
5.47
5.75
6.30
5.42
5.55
5.83
6.39
5.37
5.50
5.84
6.32
5.40
5.52
5.82
6.36
5.44
5.55
5.90
6.39
5.41
5.54
5.88
6.36
5.34
5.49
5.81
6.28
5.24
5.39
5.72
6.19
1.72
1.66
1.89
2.00
1.77
1.77
1.77
1.77
1.78
1.77
1.75
1.80
9
10
11
U.S. TREASURY NOTES AND BONDS
16
17
18
19
20
21
22
Constant maturities''
1 -year
2-year
3-year
5-year
7-year
10-year
20-year
STATE AND LOCAL NOTES AND BONDS
Moody's series10
23 Aaa
24 Baa
25 Bond Buyer series"
CORPORATE BONDS
26 Seasoned issues, all industries12
27
28
29
30
Rating group
Aaa13
Aa
A
Baa
MEMO
Dividend-price ratio14
31 Common stocks
NOTE: Some of the data in this table also appear in the Board's H.I 5 (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.
11. 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 • March 2006
1.36
STOCK MARKET
Selected Statistics
2005
Indicator
2003
2004
2006
2005
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Pr ces and trac ng volume (averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31.1965 = 50)
5.456.00
634.11
437.37
238.05
566.74
6,614.10
741.19
521.11
271.45
657.07
7,351.19
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.
7,389.23
n.a.
n.a.
n.a.
n.a.
7,482.93
n.a.
n.a.
n.a.
n.a.
7,584.49
n.a.
n.a.
n.a.
n.a.
7,373.23
n.a.
n.a.
n.a.
n.a.
7,585.75
n.a.
n.a.
n.a.
n.a.
7,787.22
n.a.
n.a.
n.a.
n.a.
8,007.35
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
965.23
1,130.65
1,207.23
1,178.28
1,202.25
1,222.24
1,224.27
1,225.91
1,191.96
1,237.37
1,262.07
1,278.72
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
943.44
1,260.02
1,567.52
1,455.72
1,529.76
1,556.30
1,625.17
1,711.66
1,640.08
1,694.64
1,752.65
1,815.91
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1 361 043 1 403 376 1 542 724 1 452 615 1 405 330 1 430 294 1 387 088 1 626 430 1 779 200 1 576 379 1 508 647 1 808 726
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
9 American Stock Exchange
Customer financing (millions of dollars, end-of-period balances)
10 Margin credit at broker-dealers
Free credit balances at brokers4
11 Margin accounts5
3
173,220
203,790
221,660
196,270
200,500
210,940
208,660
217,760
212,540
219,020
221,660
232,190
92,560
84,920
117,850
93,580
119,710
88,730
99,480
72,690
105,550
76,380
99,000
74,130
99,050
75,910
106,730
79,310
113,110
77,550
110,610
78,330
119,710
88,730
115,220
83,250
Margin requirements (percent of market value and effective date)6
14 Convertible bonds
Mar. 11, 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
25
1.40 FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2003
1 Federal debt outstanding
....
2 Public debt securities
3
Held by public
4
Held by agencies
5 Agency securities
6
Held by public
7
Held by agencies
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
7,023.4
7,156.2
7,298.6
7,403.2
7,620.4
7,801.0
7,860.2
7,956.3
8,194.3'
6,998.0
4.044.1
2,954.5
7,131.1
4,176.7
2,954.4
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
3,204.5
7,836.5
4,527.6
3,308.9
7,932.7
4,601.6
3,331.1
8,170.4'
4,714.6'
3,455.8'
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
23.7
23.7
23.6
23.6
23.8'
23.8'
7,715.5
7,778.1
7,871.0
8,107.0'
6,952.6
.3
7,088.5
.1
7,229.2
.1
7,333.2
.2
7,535.5
.2
7,715.4
.1
7,778.0
7,870.9
8,106.9'
7,384.0
7,384.0
7,384.0
7,384.0
8,184.0
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
MEMO
11 Statutory debt limit
1. Consists of guaranteed debt of U.S. Treasury and other federal agencies, specified
participation certificates, notes to international lending organizations, and District of Columbia stadium bonds.
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
2
3
4
5
6
7
8
9
10
11
12
13
14
15
By type
Interest-bearing
Marketable
Bills
Notes
Bonds
Inflation-indexed notes and bonds'
Nonmarketable2
State and local government series .
Foreign issues3
Government
Public
Savings bonds and notes
Government account series4
Non-interest-bearing
By holder^
16 U.S. Treasury and other federal agencies and trust funds
17 Federal Reserve Banks8
18 Private investors
19
Depository institutions
20
Mutual funds
21
Insurance companies
22
State and local treasuries7
Individuals
23
Savings bonds
24 Pension funds
25
Private
26
State and Local
27
Foreign and international5
28
Other miscellaneous investors7'9
6,405.7
6,998.0
7,596.1
8,170.4
6,391.4
3,205.1
6,982.0
7,578.5
3,959.7
8,117.0
4,184.0
888.8
928.8
1,580.8
1,905.7
564.3
176.2
1,003.2
2,157.1
963.9
2,326.8
539.5
245.9
516.6
3,575.1
Ql
Q2
Q3
Q4
7,759.9
7,818.0
4,031.0
7,913.7
8,117.0
4,184.0
914.3
4,103.7
1,059.1
4,084.8
149.2
3,618.8
160.7
9.7
9.7
.0
5.9
5.9
.0
192.2
3,007.0
16.0
191.7
191.2
3,230.6
3,506.6
53.4
3,248.9
923.4
2,273.0
529.9
290.6
3,787.0
206.7
3.0
3.0
.0
190.9
3,356.3
17.0
18.5
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
3,455.8
744.2
3,970.6
117.2
254.1
160.6
455.0
3,206.6
717.3
3,855.4
142.1
262.3
153.3
407.5
3,311.6
724.7
3,803.0
127.2
249.1'
154.6
429.3'
3,334.1
736.4
3,864.9
125.0'
248.1'
158.2'
446.5'
3,455.8
744.2
3,018.5
222.8
278.8
139.7
351.5
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
205.1
281.8
162.0
119.8
2,180.0
n.a.
204.2
280.9'
153.8
127.1'
1,982.2
407.4
204.2
287.7'
157.6
130.1'
2,030.0
303.5
203.6
283.9'
161.3'
122.6'
2,069.0
311.5
205.1
281.8
162.0
119.8
2,180.0
n.a.
588.7
146.9
3,186.3
153.4
11.2
11.2
.0
184.8
2,806.9
14.3
2 757.8
629.4
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.
3,406.9
17.6
328.7
3,986.5
235.6
3.8
3.8
.0
2,226.6
537.2
266.8
3,656.2
179.0
6.1
6.1
.0
192.2
2,328.7
520.6
307.1
3,828.9
225.3
3.1
3.1
.0
190.0
3,380.6
19.0
963.9
2,326.8
516.6
328.7
3,986.5
235.6
3.8
3.8
.0
191.2
3,506.6
53.4
3,970.6
117.2
254.1
160.6
455.0
8. Includes nonmarketable foreign series Treasury securities and Treasury deposit funds.
Excludes Treasury securities held under repurchase agreements in custody accounts at the
Federal Reserve Bank of New York.
9. Includes individuals, government-sponsored enterprises, brokers and dealers, bank
personal trusts and estates, corporate and noncorporate businesses, and other investors.
SOURCES: Data by type of security, U.S. Treasury Department, Monthly Statement of the
Public Debt of the United States; data by holder, Federal Reserve Board of Governors, Flow
of Funds Accounts of the United States and U.S. Treasury Department, Treasury Bulletin,
unless otherwise noted.
26
Federal Reserve Bulletin Statistical Supplement • March 2006
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
7
8
9
10
11
12
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
More than six years but less than
or equal to eleven years . . . .
More than eleven years
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 governmentsponsored enterprises
Mortgage-backed
Corporate
With other
U.S. Treasury
Federal agency and governmentsponsored enterprises
Mortgage-backed
Corporate
Sept.
Oct.
2005, week end
Nov.
Nov. 2
Nov. 9
Nov. 16
Nov. 23
Nov. 30
Dec. 7
Dec. 14
Dec. 21
Dec. 28
48,222
46,415
51,090
47,622
45,865
57,476
44,988
60,596
55,964
55,485
48,957
52,762
220,589
204,917
193,939
216,234
194,666
173,816
197,060
198,106
183,138
169,938
137,395
113,422
153,022
145,700
141,302
133,514
149,146
173,942
131,352
115,186
148,901
134,818
94,703
69,507
132,689
36,839
10,028
131,141
40,459
11,108
143,720
44,998
9,312
140,460
42,207
11,233
160,114
43,794
9,840
175,724
47,808
6,721
128,301
43,437
10,123
112,125
47,042
9,268
131,271
39,124
7,513
108,070
30,416
6,377
82,128
23,013
6,161
59,997
19,032
2,584
63,458
67,327
69,313
76,382
68,261
72,713
67,949
65,400
61,550
70,227
74,014
62,905
8,719
8,775
5,671
7,623
5,836
5,950
5,018
5,027
5,402
10,390
7,488
4,738
4,555
3,738
4,638
5,737
4,160
3,381
7,221
2,716
3,347
3,805
6,614
1,459
3,683
518
3,720
496
2,388
536
4,337
716
3,195
548
2,713
408
1,381
744
1,338
297
1,493
575
1,481
312
2,118
344
866
112
248,093
245,930
268,891
207,837
482,379
255,602
177,825
159,680
348,674
291,652
114,535
82,260
181,661
20,067
177,065
21,036
173,985
19,961
191,041
20,758
171,824
20,121
183,416
18,733
178,828
21,309
152,672
18,903
174,205
20,872
196,218
20,532
202,947
24,001
168,420
13,127
251,259
236,001
239,062
242,654
247,511
256,750
231,413
218,579
229,960
214,345
165,658
134,142
6,238
56,360
492
6,157
57,114
734
5,166
60,415
560
8,211
50,248
729
5,169
96,029
646
5,480
61,350
554
4,566
51,110
495
4,075
31,677
455
5,215
65,957
463
6,116
72,856
408
5,671
27,659
353
3,514
22,833
88
350,130
343,739
345,300
348,617
355,916
378,738
323,849
323,745
335,951
290,760
226,698
183,161
74,694
191,733
201,236
77,900
188,816
197,368
77,381
208,476
193,385
86,585
157,589
211,070
76,831
386,350
191,299
79,686
194,252
201,596
77,747
126,715
199,642
70,704
128,003
171,120
67,152
282,717
194,614
80,099
218,796
216,342
84,907
86,876
226,594
66,566
59,427
181,459
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
Sept.
Oct.
Nov.
Nov. 2
Nov. 9
Nov. 16
Nov. 23
Nov. 30
Dec. 7
Dec. 14
Dec. 21
Net outright posit ons2
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
2
3
7
8
9
10
11
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities, by maturity
Three years or less
More than three years but less than
or equal to six years
More than six but less than
or equal to eleven years
More than eleven
12 Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
-4,848
-2,444
10,674
-3,897
9,822
2,721
5,943
28,372
40,131
35,469
21,516
-42,218
-50,292
-48,100
-49,864
-50,056
-47,680
-43,481
-50,679
-51,303
-45,003
-49,332
-43,808
-50,526
-46,390
-54,153
-50,804
-49,284
-44,176
-39,077
-45,398
-42,754
-41,239
-21,049
-9,436
-307
-25,033
-9,505
396
-27,219
-10,773
1,606
-25,251
-11,232
1,318
-29,464
-10,265
1,966
-25,107
-8,508
1,596
-24,274
-11,122
2,050
-30,593
-13,064
894
-30,986
-13,631
1,107
-28,172
-10,391
574
-29,785
-10,827
404
43,150
47,920
50,353
47,324
47,458
49,246
56,013
49,559
59,618
56,885
43,197
28,937
30,134
27,242
30,472
27,973
24,991
27,394
27,689
28,207
28,034
26,438
12,436
11,440
12,538
13,497
14,025
12,603
12,773
10,475
9,827
8,321
10,092
2,969
4,359
1,965
4,246
2,011
4,598
-159
4,276
827
4,425
2,165
4,442
2,939
4,907
2,733
4,708
2,230
4,777
2,165
5,112
1,305
5,066
29,395
29,276
18,924
29,278
20,583
18,282
14,651
19,222
9,525
15,252
13,147
34,452
132,621
36,407
134,434
38,830
140,269
38,072
137,357
32,293
138,126
34,695
137,702
45,783
139,698
42,767
146,381
46,442
144,557
45,945
145,644
45,141
145,264
Financing3
Securities in, U.S. Treasury
15 Overnight and continuing
16 Term
Federal agency and governmentsponsored enterprises
17 Overnight and continuing
18 Term
Mortgage-backed securities
19 Overnight and continuing
20 Term
Corporate securities
21 Overnight and continuing
22 Term
1 153 469
1,383,137
1 166 856
1,234,077
1 164 093
1,364,186
1 189 153
1,254,439
1 195 423
1,412,241
1 183 749
1,289,965
1 093 305
1,449,367
1 176 736
1,336,528
1 186 608
1,412,346
1 167 555
1,443,869
1 109 858
1,508,324
156,866
196,121
160,726
202,995
159,993
240,013
170,027
208,293
165,567
235,788
177,222
233,516
142,160
256,391
152,157
243,420
164,608
237,043
182,877
219,519
153,143
232,891
82,582
414,306
91,148
400,892
106,109
412,678
103,317
408,691
96,831
422,064
103,719
407,532
102,046
421,999
122,636
400,258
109,081
390,036
105,933
416,251
94,091
422,108
108,693
89,218
109,470
90,240
108,408
96,637
109,131
92,901
110,995
97,802
109,126
97,656
108,561
95,809
104,745
96,350
111,249
92,779
112,042
90,850
110,717
91,907
742,389
1 755 400
727,664
1 598 290
752,551
1 769 310
735,166
1 657 167
770,255
1 828 859
780,562
1 690 611
648,905
1 892 186
815,448
1 697 624
781,121
1 783 421
762,727
1,842,162
683,768
1,896,131
1,095,545
1,223,932
1,126,877
1,045,827
1,122,688
1,189,421
1,135,991
1,081,883
1,147,870
1,245,775
1,159,516
1,100,639
1,006,087
1,310,979
1,173,477
1,131,017
1,165,298
1,220,859
1,156,557
1,262,833
1,128,121
1,314,758
298,371
138,664
302,317
141,878
300,403
174,550
312,954
151,383
304,460
171,652
305,530
171,413
283,805
198,728
304,230
163,028
333,260
174,389
340,797
157,999
308,278
157,363
528,936
243,214
538,975
223,668
519,731
261,053
530,304
241,400
502,330
253,435
537,662
251,726
492,380
309,552
543,530
235,113
515,824
250,264
536,042
254,149
521,464
257,415
234,137
52,610
244,678
54,762
250,712
62,483
251,800
57,782
245,784
63,770
248,876
60,368
248,850
67,909
259,025
59,226
254,281
57,950
252,545
57,582
258,701
56,361
1,907,304
1,573,123
1,945,698
1,380,883
1,928,515
1,614,497
1,967,289
1,450,368
1,941,346
1,655,844
1,990,005
1,505,526
1,759,358
1,820,954
2,012,273
1,522,558
2,009,364
1,619,396
2,019,378
1,649,216
1,944,629
1,705,156
MEMO
Reverse repurchase agreements
23 Overnight and continuing
24 Term
Securities out, U.S. Treasury
25 Overnight and continuing
26 Term
Federal agency and governmentsponsored enterprises
27 Overnight and continuing
28 Term
Mortgage-backed securities
29 Overnight and continuing
30 Term
Corporate securities
31 Overnight and continuing
32 Term
MEMO
Repurchase agreements
33 Overnight and continuing
34 Term
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/primarydealers.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.
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 • March 2006
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 Bank^3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service6
8
Tennessee Valley Authority
9
United States Railway Association6
10 Federally sponsored agencies7
11
Federal Home Loan Banks
12 Federal Home Loan Mortgage Corporation . .
13 Federal National Mortgage Association
14 Farm Credit Bankss
15
Student Loan Marketing Association9
16 Financing Corporation10
17
Farm Credit Financial Assistance Corporation"
18
Resolution Funding Corporation12
2,121,057
276
6
2^51,039
6
n.a.
26,828
n.a.
25,412
6
n.a.
n.a.
n.a.
2,120,781
623,740
565,071
763,500
76,673
48,350
8,170
1,261
29,996
2,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
24,267
6
n.a.
207
Aug.
Sept.
23,576
6
23,643
6
n.a.
146
n.a.
23,744
6
23,678
6
n.a.
143
n.a.
n.a.
n.a.
24,261
n.a.
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
n.a.
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
30,811
27,948
27,495
27,716
n.a.
n.a.
n.a.
n.a.
n.a.
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
17,899
n.a.
9,596
18,198
n.a.
9,518
23,738
896,220
739,600
836,975
104,218
79,697
n.a.
n.a.
23,672
n.a.
n.a.
n.a.
895,404
732,400
814,760
106,024
n.a.
n.a.
n.a.
n.a.
23,570
890,756
742,300
791,668
107,136
n.a.
n.a.
23,637
n.a.
23,511
6
23,505
n.a.
n.a.
n.a.
748,939
n.a.
n.a.
n.a.
n.a.
n.a.
MEMO
19 Federal Financing Bank debt13
20
21
22
23
24
39,096
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service6
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association6
Other lending*4
25 Farmers 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 Agricultural Mortgage Corporation; therefore, details do not sum to total. Some data
are estimated.
8. Excludes borrowing by the Farm Credit Financial Assistance Corporation, which is
shown on line 17.
9. Before late 1982, the association obtained financing through the Federal Financing Bank
(FFB). Borrowing excludes that obtained from the FFB, which is shown on line 22.
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.
11. The Farm Credit Financial Assistance Corporation, established in January 1988 to
provide assistance to the Farm Credit System, undertook its first borrowing in July 1988.
12. The Resolution Funding Corporation, established by the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989, undertook its first borrowing in October
1989.
13. The FFB, which began operations in 1974, is authorized to purchase or sell obligations
issued, sold, or guaranteed by other federal agencies. Because FFB incurs debt solely for the
purpose of lending to other agencies, its debt is not included in the main portion of the table to
avoid double counting.
14. Includes FFB purchases of agency assets and guaranteed loans; the latter are loans
guaranteed by numerous agencies, with the amounts guaranteed by any one agency generally
being small. The Farmers Home Administration entry consists exclusively of agency assets,
whereas the Rural Electrification Administration entry consists of both agency assets and
guaranteed loans.
Securities Markets and Corporate Finance
1.45
NEW SECURITY ISSUES
29
State and Local Governments
Millions of dollars
Type of issue or issuer,
or use
May
July
Sept.
1 All issues, new and refunding1
363,888
384,311
357,875
35,998
44,313
34,729
33,923
32,451'
27,599
39,097
32,072
By type of issue
2 General obligation
3 Revenue
145.323
214,788
144,056
238,204
130,471
227,404
13,683
22,315
16,805
27,508
10,584
24,145
11,103
22,819
12,531'
19,920'
5,846
21,753
10,292
28,805
8,817
23,255
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township . . .
33,931
259,070
67,121
49,795
253,536
78,962
47,365
234,237
76,273
1,942
25,226
8,830
3,258
32,904
8,151
1,735
27,057
5,937
1,837
23,863
8,223
4,734
21,140'
6,577'
790
22,066
4,744
2,925
30,496
5,675
2,479
22,978
6,614
7 Issues for new capital
242,882
264,697
228,357
17,983
25,309
17,367
20,006
16,893
17,696
24,316
21,158
57,894
22,093
33,404
n.a.
7.227
73,033
70,394
23,809
10,251
n.a.
22,339
97,736
65,426
20,546
9,242
n.a.
19.050
80,438
4,566
1,177
765'
n.a.
1.759'
5,985
8,551
3,965
721
n.a.
1.483
6,287
8,730
985
413
n.a.
1.307
3,880
5,590
4,345
1,448
n.a.
901
5,257
3,925
2,205
1,474
n.a.
1.374
5,504
4,922
2,179
721
n.a.
2.426
3,337
7,196
1,952
655
n.a.
1.848
9,514
6,985
1,384
1,114
n.a.
1.721
5,506
8
9
10
11
12
13
By use of proceeds
Education
Transportation
Utilities and conservation
Social welfare
Industrial aid
Other purposes
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
NEW SECURITY ISSUES
US. Corporations
Millions of dollars
2005
Type of issue, offering,
or issuer
1
1 All issues
By type of offering
3 Sold in the United States
2002
2003
2004
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
1,432,548
1,815,569
2,070,680
144,986
182,463
264,143
172,969
227,934
235,682
184,688
217,135
1,322,113
1,692,260
1,923,094
139,849
176,510
250,164
168,045
215,978
217,950
176,725
209,117
1,235,868
86 246
1,579,311
112 949
1,737,342
185 752
130.985
8 864
169,998
6 512
230,843
19 321
152,735
15 310
204.581
11 397
204.402
13 548
163.616
13 109
185.344
23 772
18,870
20,701
22,328
987
2,251
2,173
4,543
2.331
1.610
952
2.753
282,484
1,039,629
362,340
1,329,920
259,968
1,663,127
11,711
128,138
9,496
167,014
31,342
218,822
17,969
150,076
17,876
198,102
23,373
194,577
8,529
168,196
24,247
184,869
170,903
182,132
147,585
5,137
5,953
13,979
4,924
11,956
17,732
7,963
8,018
110,434
60,469
123,309
58,823
147,585
n.a.
5,137
n.a.
5,953
n.a.
13,979
n.a.
4,924
n.a.
11,956
n.a.
17,732
n.a.
7,963
n.a.
8,018
n.a.
62,114
48,320
44,416
78,893
64.345
83,240
2.595
2,543
2.427
3,527
4.448
9,532
1.953
2,971
6.385
5,571
9.597
8,135
2.445
5,517
4.324
3,694
MEMO
5 Private placements, domestic
By industry group
7 Financial
8 Stocks3
By type of offering
9 Public
10 Private placement4
By industry group
11 Nonfinancial
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 • March 2006
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2005
Item
2004
2006
2005'
June
July
Aug.
Sept.
Oct.
Nov.
Dec'
Jan.
1 Sales of own shares2
1,658,563
1,770,090
134,943
134,584
149,375
138,526
153,140
147,140
160,537
201,975
2 Redemptions of own shares
1,448,779
209,784
1,579,448
190,642
122,673
12,270
115,906
18,678
133,891
15,484
125,447
13,079
145,548
7,592
125,925
21,215
154,317
6,220
162,154
39,821
6,193,749
6,864,636
6,350,829
6,563,380
6,597,170
6,676,342
6,561,255
6,775,522
6,864,636
7,151,800
306,755
5 886 994
303,068
6 561 568
315,528
6 035 301
296,235
6 267 145
301,663
6 295 507
294,070
6 382 272
298,520
6 262 735
313,283
6 462 239
303,068
6 561 568
314,739
6 837 061
4 Assets
4
5 Cash5
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
Q2
Q3
Q4
Q1
Q2
Q3
Q4
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
1 022 2
365.8
457.4
198.9
1 145 0
430.4
471.7
242.9
1 218 5
429.4
504.2
284.9
1 075 4
390.1
471.3
213.9
1 097 2
416.4
456.3
224.5
1 145 0
430.4
471.7
242.9
1 141 6
425.7
469.2
246.7
1 153 6
423.8
478.1
251.7
1 171 0
431.9
474.6
264.6
1 218 5
429.4
504.2
284.9
50.8
24 6
46.3
24 8
37.8
23 3
47.3
24 0
46.5
24 1
46.3
24 8
45.4
23 4
44.8
23 1
37.9
24 2
37.8
23 3
946.8
753.9
1,073.9
765.4
1,157.4
659.3
1,004.1
732.2
1,026.5
746.8
1,073.9
765.4
1,072.9
747.9
1,085.7
764.4
1,109.0
659.8
1,157.4
659.3
1,700.8
1,839.3
1,816.7
1,736.4
1,773.3
1,839.3
1,820.9
1,850.0
1,768.7
1,816.7
56.2
136.3
65.2
163.9
66.7
147.3
52.6
141.4
64.1
154.3
65.2
163.9
63.1
149.2
60.0
136.2
70.5
132.8
66.7
147.3
99.9
747.1
424.7
236.6
118.2
828.3
415.3
248.3
126.9
809.4
394.5
271.9
108.1
769.1
426.6
238.5
112.7
776.7
422.6
242.9
118.2
828.3
415.3
248.3
114.7
855.5
388.0
250.5
116.8
872.1
398.6
266.3
122.9
778.1
431.0
233.5
126.9
809.4
394.5
271.9
1,700.8
1,839.3
1,816.7
1,736.4
1,773.3
1,839.3
1,820.9
1,850.0
1,768.7
1,816.7
LIABILITIES AND CAPITAL
10 Bank loans
11 Commercial paper
Debt
12 Owed to parent
14 All other liabilities
15 Capital, surplus, and undivided profits
16 Total liabilities and capital
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.
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
July
Aug.
Sept.
Seasonally adjusted
1 Total
2
3
4
Consumer
Real estate
Business .
1,271.6
1,323.8
1,405.2
519.8
210.5
541.3
543.3
229.2
551.4
568.6
267.8
568.8
1,451.2
1,433.6
581.5
280.1
564.1
580.0
281.8
565.2
579.5
285.6
568.6
580.7
286.2
572.4
575.9
292.1
576.2
573.4
296.8
581.0
Not seasonally adjusted
5 Total
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
Revolving2
Other3
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'
1,277.5
1,330.2
1,411.8
523.9
160.2
83.3
38.9
38.7
547.7
197.0
70.0
37.6
60.9
573.3
230.0
62.5
40.5
96.3
578.6
208.2
67.3
44.5
102.9
578.4
203.0
68.1
45.5
106.1'
579.4
202.7
68.6
45.3
109.3'
582.3
203.3
68.8
46.2
112.5'
580.4
203.1
68.9
47.2
113.4'
578.1
200.9
69.5
48.2
114.2
151.9
5.7
31.1
14.0
210.6
135.0
39.5
132.8
5.5
31.6
12.2
229.4
152.2
46.7
109.9
4.8
19.3
9.8
268.2
190.1
52.7
125.9
4.5
16.9
8.5
277.9
199.7
52.0
126.9
4.4
16.1
8.3
283.6
206.1
51.6
125.6
4.4
15.4
8.1
289.2
212.0
51.5
122.9
4.3
15.8
8.5
287.8
212.6
52.0
120.6
4.3
14.8
8.2
295.7
220.7
51.9
118.7
4.2
14.4
8.0
301.6
226.7
52.0
3.2
543.0
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5
26.7
3.8
553.1
74.9
18.2
40.3
16.3
277.6
74.6
203.1
105.0
3.5
570.4
91.6
18.4
46.2
27.0
264.8
70.6
194.3
115.3
20.3
5.9
572.1
99.1
21.9
48.1
29.2
264.5
70.0
194.5
114.5
20.1
5.9
560.2
88.9
22.0
37.7
29.3
265.0
70.8
194.2
116.3
19.8
5.9
560.1
88.1
21.8
37.1
29.2
266.3
70.6
195.7
118.5
19.6
3.7
566.1
88.3
21.6
37.4
29.3
266.3
70.4
195.9
119.9
19.4
3.7
572.5
91.2
20.1
41.8
29.3
268.2
70.8
197.4
118.6
19.2
3.7
579.3
111.6
19.7
62.7
29.3
268.7
70.8
198.0
122.5
50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.4
48.4
2.2
44.2
2.1
22.1
12.5
9.6
25.1
44.8
2.2
40.6
2.0
23.6
11.5
12.1
30.2
43.2
2.8
40.2
.1
23.4
11.7
11.6
27.5
39.5
2.8
36.6
.1
23.0
11.4
11.6
27.5
36.9
2.8
34.0
.1
22.9
11.3
11.6
27.4
39.9
2.7
37.0
.1
23.8
12.4
11.4
27.9
43.2
2.7
40.3
.1
23.6
12.2
11.4
27.8
25.3
2.7
22.5
.1
23.2
11.8
11.4
27.8
NOTE: This table has been revised to incorporate several changes resulting from the
benchmarking of finance company receivables to the June 1996 Survey of Finance Companies. In that benchmark survey, and in the monthly surveys that have followed, more-detailed
breakdowns have been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table. The new information has
resulted in some reclassification of receivables among the three major categories (consumer,
real estate, and business) and in discontinuities in some component series between May and
June 1996.
Includes finance company subsidiaries of bank holding companies but not of retailers and
banks. Data in this table also appear in the Board's G.20 (422) monthly statistical release,
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 carried on the balance sheets of the loan originator. Data are shown
1,428.7
1,459.0
before deductions for unearned income and losses. Components may not sum to totals
because of rounding.
2. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies.
3. Includes personal cash loans, mobile home loans, and loans to purchase other types of
consumer goods, such as appliances, apparel, boats, and recreation vehicles.
4. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
5. Credit arising from transactions between manufacturers and dealers—that is, floor plan
financing.
6. Includes loans on commercial accounts receivable, factored commercial accounts, and
receivable dealer capital; small loans used primarily for business or farm purposes; and
wholesale and lease paper for mobile homes, campers, and travel trailers.
32
Federal Reserve Bulletin Statistical Supplement • March 2006
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2005
Item
2003
2004
2006
2005
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
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
272.1
205.3
77.9
28.7
.61
292.0
215.0
76.0
28.8
.51
326.8
238.5
75.3
29.2
.54
330.7
240.4
75.1
29.2
.48
323.1
237.7
75.9
29.1
.52
332.3
243.3
75.5
29.2
.58
338.6
246.3
75.1
29.4
.58
345.6
249.6
74.4
29.5
.66
358.5
260.4
74.4
29.5
.65
337.7
243.4
74.4
28.9
.43
5.71
5.80
n.a.
5.68
5.75
n.a.
5.86
5.93
n.a.
5.69
5.76
n.a.
5.75
5.83
n.a.
5.91
5.99
n.a.
5.95
6.03
n.a.
6.11
6.20
n.a.
6.30
6.39
n.a.
6.06
6.12
n.a.
n.a.
5.03
n.a.
5.19
n.a.
5.13
n.a.
5.03
n.a.
5.14
n.a.
5.06
n.a.
5.39
n.a.
5.55
n.a.
5.45
n.a.
5.24
SECONDARY MARKETS
Yield (percent per year)
10 GNMA securities6
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
898,445
n.a.
n.a.
904,555
n.a.
n.a.
727,173
n.a.
n.a.
788,786
n.a.
n.a.
768,280
n.a.
n.a.
727,824
n.a.
n.a.
717,254
n.a.
n.a.
715,532
n.a.
n.a.
727,173
n.a.
n.a.
725,287
n.a.
n.a.
14 Mortgage transactions purchased (during period)
572,852
262,646
146,641
9,365
11,564
10,021
10,136
16,021
28,760
12,199
Mortgage commitments (during period)
15 Issued7
16 To sells
522,083
33 010
149,429
8 828
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
644,436
n.a.
n.a.
652,936
n.a.
n.a.
710,017
n.a.
n.a.
660,035
n.a.
n.a.
677,764
n.a.
n.a.
684,530
n.a.
n.a.
678,178
n.a.
n.a.
692,758
n.a.
n.a.
710,017
n.a.
n.a.
704,172
n.a.
n.a.
n.a.
713,260
n.a.
365,148
n.a.
397,867
n.a.
28,633
n.a.
40,883
n.a.
43,002
n.a.
34,986
n.a.
37,837
n.a.
39,784
n.a.
33,669
n.a.
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 ofperiod)*
17 Total
18 FHA/VA insured
19
Conventional
Mortgage transactions (during period)
21 Sales
22 Mortgage commitments contracted (during period)9
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
Q4
1 All holders .
2
3
4
5
By type of property
One- to four-family residences
Multifamily residences
Nonfarm, nonresidential
Farm
By type of holder
6 Major financial institutions . . .
7
Commercial banks2
One- to four-family
9
Multifamily
10
Nonfarm, nonresidential .
11
Farm
12 Savings institutions3
13
One- to four-family
14
Multifamily
15
Nonfarm, nonresidential .
16
Farm
17 Life insurance companies . .
18
One- to four-family
19
Multifamily
20
Nonfarm, nonresidential .
Farm
21
22 Federal and related agencies
23 Government National Mortgage Association
24
One- to four-family
25
Multifamily
26 Farmers Home Administration4
27
One- to four-family
28
Multifamily
29
Nonfarm, nonresidential
30
Farm
31 Federal Housing Admin, and Dept. of Veterans Affairs . . .
32
One- to four-family
33
Multifamily
34 Resolution Trust Corporation
35
One- to four-family
36
Multifamily
37
Nonfarm, nonresidential
38
Farm
39
40 Federal Deposit Insurance Corporation
One- to four-family
41
Multifamily
42
Nonfarm, nonresidential
43
Farm
44
Federal
National Mortgage Association
45
One- to four-family
46
Multifamily
47
48 Federal Land Banks
49
One- to four-family
50
Farm
51 Federal Home Loan Mortgage Corporation
52
One- to four-family
53
Multifamily
54 Federal Agricultural Mortgage Corporation
Farm
55 Mortgage pools or trusts5
56
Government National Mortgage Association
One- to four-family
57
58
Multifamily
59 Federal Home Loan Mortgage Corporation
60
One- to four-family
61
Multifamily
62 Federal National Mortgage Association . . .
63
One- to four-family
64
Multifamily
65 Farmers Home Administration4
66
One- to four-family
67
Multifamily
68
Nonfarm, nonresidential
69
Farm
70
Private
mortgage conduits
71
One- to four-family1"
72
Multifamily
73
Nonfarm, nonresidential
74
Farm
75
Federal
Agricultural Mortgage Corporation
76
Farm
77 Individuals and others7 . . .
78
One- to four-family
79
Multifamily
80
Nonfarm, nonresidential
81
Farm
Q1
Q2
Q3
11,106,500'
11,534,870'
Q4"
8,244,541""
9,236,104'
10,472,280""
6,244,137'
486,680
1,388,217'
125,507
7,025,321'
557,375'
1,519,826'
133,583
8,016,280'
612,217'
1,702,071'
141,710
8,016,280'
612,217'
1,702,071'
141,710
8,213,851'
623,176'
1,745,985'
142,963
8,507,556'
640,682'
1,812,042'
146,219
8,847,289'
655,346'
1,883,927'
148,310'
9,148,997
674,463
1,967,856
150,927
3,089,434
2,058,426
1,222,126
94,178
704,097
38,025
780,989
631,057
68,624
80,730
577
250,019
4,657
36,816
195,040
13,506
3,387,175
2,256,037
1,346,908
104,901
763,579
40,649
870,194
702,784
77,895
88,884
632
260,944
4,403
38,556
203,946
14,039
3,925,678
2,595,318
1,568,000
119,294
863,467
44,557
1,057,036
874,518
87,445
94,475
598
273,324
4,998
40,453
214,085
13,788
3,925,678
2,595,318
1,568,000
119,294
863,467
44,557
1,057,036
874,518
87,445
94,475
598
273,324
4,998
40,453
214,085
13,788
4,031,957'
2,689,241'
1,633,240'
122,807
888,164'
45,030
1,068,024
883,372
90,294
93,761
597
274,692
5,024
40,655
215,154
13,859
4,181,182'
2,790,473'
1,696,047'
129,021
919,185'
46,220
1,112,919
921,684
95,048
95,582
604
277,790
5,082
41,113
217,576
14,019
4,316,323'
2,895,448'
1,750,876'
135,547'
961,886'
47,139'
1,140,910'
946,883'
96,732'
96,690'
605
279,965'
5,122'
41,435'
219,276'
14,132'
4,392,502
2,957,654
1,776,472
140,121
993,475
47,585
1,152,165
954,556
98,121
98,874
614
282,683
5,173
41,836
221,401
14,273
433,565
5
5
0
72,377
14,908
11,669
42,101
3,700
3,854
1,262
2,592
0
0
0
537,131
50
50
0
69,546
13,964
11,613
40,529
3,439
4,192
1,304
553,821
44
44
0
70,624
13,464
11,556
42,370
3,235
4,733
1,338
3,394
0
0
0
0
0
11
2
553,821
44
44
0
70,624
13,464
11,556
42,370
3,235
4,733
1,338
3,394
0
0
0
0
0
11
2
554,645
42
42
0
70,690
13,338
11,537
42,559
3,255
4,936
1,346
3,589
0
0
0
0
0
11
2
552,979
39
39
0
70,995
13,274
11,527
42,957
3,237
4,784
1,356
3,429
0
0
0
0
0
9
550,130
36
36
0
72,044
13,124
11,500
44,172
3,247
4,703
1,359
3,344
0
0
0
0
0
9
1
551,497
34
34
0
72,937
13,014
11,493
45,213
3,217
4,819
1,370
3,449
0
0
0
0
0
8
1
7
0
249,515
222,535
26,980
52,793
3,106
49,687
61,360
23,389
37,971
887
887
7
0
249,515
222,535
26,980
52,793
3,106
49,687
61,360
23,389
37,971
887
887
7
0
249,397
222,417
26,980
53,341
3,139
50,202
61,736
23,532
38,204
865
865
2
6
0
249,230
222,250
26,980
54,769
3,223
51,546
60,986
23,246
37,740
838
838
5
0
248,994
222,014
26,980
55,489
3,265
52,224
61,207
23,331
37,876
832
832
5
0
248,991
222,011
26,980
57,127
3,361
53,766
61,481
23,435
38,046
832
832
0
0
0
796,904
487,486
59,225
250,193
0
367
367
4,457,625'
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
968,500'
606,762'
67,288
294,450
0
1,003
1,003
4,969,761'
441,235
409,089
32,147
1,204,239
1,187,489
16,750
1,895,761
1,819,931
75,830
0
0
0
0
0
1,427,587'
1,004,356'
75,170
348,061
0
938
938
4,969,761'
441,235
409,089
32,147
1,204,239
1,187,489
16,750
1,895,761
1,819,931
75,830
0
0
0
0
0
1,427,587'
1,004,356'
75,170
348,061
0
938
938
5,093,469'
431,193
398,619
32,574
1,218,978
1,202,023
16,955
1,896,003
1,820,163
75,840
0
0
0
0
0
1,546,413'
1,103,571'
77,309
365,533
0
882
882
5,290,189'
420,915'
388,057'
32,858
1,245,930
1,228,600
17,330
1,900,149
1,824,143
76,006
0
0
0
0
1,722,320'
1,246,639'
82,955
392,726
0
875
875
5,542,171'
411,621'
378,393'
33,229
1,279,664
1,261,865
17,799
1,924,810
1,847,818
76,992
0
0
0
0
0
1,925,240'
1,425,827'
85,991'
413,422'
0
835
835
5,821,976
405,830
372,068
33,762
1,330,795
1,312,284
18,511
1,940,079
1,862,476
77,603
0
0
0
0
0
2,144,437
1,591,697
95,162
457,578
0
835
835
766,034'
547,833'
77,343
116,027'
24,830
854,174'
618,886'
80,439'
128,424'
26,424
1,023,019'
770,183'
85,209'
139,606'
28,021
1,023,019'
770,183'
85,209'
139,606'
28,021
1,045,905'
790,411'
86,414'
140,808'
28,273
1,082,148'
822,601'
86,658'
144,010'
28,879
1,126,249'
860,576'
87,904'
148,475'
29,294'
1,176,268
905,790
89,363
151,310
29,805
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
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
3,955,508
537,888
512,098
25,790
1,082,062
1,072,990
9,072
1,538,287
1,478,610
59,677
0
1. Multifamily debt refers to loans on structures of five or more units.
2. Includes loans held by nondeposit trust companies but not loans held by bank trust
departments.
3. Includes savings banks and savings and loan associations.
4. FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from
FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting
changes by the Farmers Home Administration.
5. Outstanding principal balances of mortgage-backed securities insured or guaranteed by
the agency indicated.
6. Includes securitized home equity loans.
7. Other holders include mortgage companies, real estate investment trusts, state and local
credit agencies, state and local retirement funds, noninsured pension funds, credit unions, and
finance companies.
SOURCE: Based on data from various institutional and government sources. Separation of
nonfarm mortgage debt by type of property, if not reported directly, and interpolations and
extrapolations, when required for some quarters, are estimated in part by the Federal Reserve.
Line 70 from LoanPerformance Corporation and other sources.
34
Federal Reserve Bulletin Statistical Supplement • March 2006
1.55 CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
Holder and type of credit
Aug.r
Sept/
Seasonally adjusted
732,665
1,189,187
2 Revolving . . .
3 Nonrevolving2
2,009,850
2,096,841'
752,792
1,257,058
781,057
1,315,785'
2,145,855'
2,156,993
790,701
1,355,154'
795,785
1,361,208
789,323
1,344,938'
2,155,156
2,155,067
802,365
1,360,270
801,675
1,353,481
802,767
1,352,301
Not seasonally adjusted
1,948,987
2,037,519
2,126,276'
2,120,267'
2,130,328'
2,151,826
2,163,957
2,159,912
2,163,995
602,570
237,790
195,744
129,576
68,705
77,520
637,082
669,386
295,424
205,877
114,658
77,850
63,348
610,976
704,270
366,834
215,384
98,363
91,271
64,684
585,470'
683,951
355,600
221,367
98,647
94,002
61,088
605,612'
694,674'
354,551
225,516
98,120
95,817'
61,080'
600,570'
705,421
357,357
229,223
98,205
97,631
63,269
600,721
708,230
361,994
230,110
103,921
99,387
63,078
597,237
701,917
363,706
229,463
103,988
108,443
59,950
592,444
697,109
363,306
229,769
102,758
108,694
59,835
602,525
By major type of credit*
12 Revolving
13
Commercial banks
14 Finance companies
15
Credit unions
16 Federal government and Sallie Mae
17
Savings institutions
18
Nonfinancial business
19 Pools of securitized assets3
753,942
246,395
38,948
22,228
n.a.
16,260
39,848
390,263
774,887
285,015
37,576
22,410
n.a.
23,848
19,363
386,675
804,953
314,649
40,496
23,244
n.a.
27,905
17,899
380,760
785,498
293,725
44,497
22,816
n.a.
28,242
17,266
378,952
785,851
296,835'
45,479
23,130
n.a.
28,792
17,240
374,376'
793,276
298,039
45,346
23,385
n.a.
29,342
19,189
377,975
796,686
300,551
46,157
23,302
n.a.
29,874
19,102
377,700
796,222
294,521
47,218
23,441
n.a.
39,340
15,830
375,871
805,789
299,808
48,224
23,785
n.a.
39,989
14,877
379,107
20 Nonrevolving
21
Commercial banks
22
Finance companies
23
Credit unions
24 Federal government and Sallie Mae
25
Savings institutions
26
Nonfinancial business
27
Pools of securitized assets3
1,195,045
356,175
198,842
173,516
129,576
52,445
37,673
246,819
1,262,632
384,371
257,847
183,467
114,658
54,002
43,986
224,301
1,321,323'
389,621
326,338
192,140
98,363
63,366
46,786
204,710'
1,334,769'
390,226
311,103
198,551
98,647
65,760
43,822
226,660'
1,344,477'
397,840'
309,073
202,386
98,120
67,025'
43,840
226,194'
1,358,550
407,381
312,011
205,838
98,205
68,289
44,080
222,746
1,367,271
407,679
315,837
206,808
103,921
69,513
43,976
219,537
1,363,690
407,396
316,489
206,022
103,988
69,103
44,120
216,573
1,358,207
397,300
315,082
205,984
102,758
68,705
44,958
223,419
4 Total
5
6
7
8
9
10
11
By major holder
Commercial banks
Finance companies
Credit unions
Federal government and Sallie Mae . .
Savings institutions
Nonfinancial business
Pools of securitized assets3
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 carried 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
2005
Item
2002
2003
2004
May
June
July
Aug.
Sept.
Oct.
Nov.
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
6.93
12.03
n.a.
n.a.
n.a.
n.a.
7.08
12.22
n.a.
n.a.
n.a.
n.a.
7.46
11.83
Credit card plan
3 All accounts
4 Accounts assessed interest
13.40
13.11
12.30
12.73
12.71
13.21
12.76
14.81
n.a.
n.a.
n.a.
n.a.
12.48
14.75
n.a.
n.a.
n.a.
n.a.
12.57
14.48
4.29
10 74
3.40
9 72
4.36
8 96
5.25
9 34
5.55
8 93
5.71
8 55
5.80
872
5.89
9 06
6.13
8 96
6.40
8 95
56.8
57 5
61.4
57 5
60.5
56 8
59.2
57 5
59.9
57 5
60.4
57 5
60.1
57 6
60.2
57 4
61.4
57 6
60.6
57 5
94
100
95
100
89
100
88
98
88
98
89
97
88
97
88
99
90
99
88
98
24,747
14,532
26,295
14,613
24,888
15,136
22,989
16,011
23,717
16,316
25,086
16,509
25,059
16,383
23,579
16,220
24,209
16,836
24,174
17,019
Auto finance companies
5 New car
OTHER TERMS3
Maturity (months)
7 New car
Loan-to-value ratio
9 New car
10 Used car
Amount financed (dollars)
11 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 category or sector
Q2'
Q3'
Q4'
Ql'
Q2'
Q3'
Q4
Nonfinancial sectors
1,095.3
1 Total net borrowing by domestic nonfinancial sectors
1,649.4
1,934.9
2
3
4
5
6
7
8
9
10
11
12
13
14
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
48.1
-294.9
-1.0
23.6
162.6
98.2
79.6
540.7
401.0
26.8
105.9
7.0
168.1
-88.3
-5.1
-.5
122.9
347.7
-81.6
8.9
659.1
496.1
40.6
114.6
7.7
132.3
-64.2
257.1
.5
159.4
132.3
-87.0
20.3
813.5
672.8
37.2
95.9
7.6
87.1
-40.0
398.4
-2.4
135.1
158.3
-80.2
10.0
981.7
779.9
70.1
123.7
8.0
88.4
15.8
362.5
-.6
133.1
77.7
33.5
25.0
1,196.9
977.4
50.2
161.0
8.4
32.3
370.8
-3.6
70.2
6.7
85.3
-15.3
1,111.3
904.0
69.9
126.9
10.5
52.8
15
16
17
18
19
20
21
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
551.1
554.4
346.0
197.1
11.3
15.5
-295.9
600.5
394.6
221.4
162.7
10.5
105.8
-5.6
736.2
181.4
25.0
148.5
7.8
143.9
257.6
946.3
189.3
84.7
96.9
7.7
117.8
396.0
1,023.4
429.2
174.5
243.0
11.8
118.2
361.9
22 Foreign net borrowing in United States
63.0
-43.8
70.8
54.3
23
24
25
26
31.7
21.2
11.4
-1.3
-14.2
-18.5
-7.3
-3.8
36.1
31.6
5.3
22.3
41.9
-7.7
-2.1
1,051.6
1,389.7
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total domestic plus foreign .
888.1
22.4
266.5
2,338.6
2,411.6
1,339.1
1,097.3
45.5
187.0
9.3
129.4
-25.4
310.9
.3
130.9
138.3
118.6
100.7
1,183.6
937.9
59.0
180.6
6.1
90.9
53.7
631.5
-.7
225.4
35.1
89.0
84.0
1,147.8
925.4
42.7
175.2
4.5
72.8
9.2
7.2
-1.4
125.7
30.3
210.3
70.2
1,465.6
1,142.8
75.2
236.2
11.4
78.5
4.6
232.3
-.4
249.7
100.9
43.4
19.1
1,647.6
1,307.9
52.3
278.7
8.7
114.3
-86.2
358.2
.8
202.3
76.4
216.9
152.2
1,540.7
1,155.0
73.6
300.5
11.6
-15.8
988.6
303.6
59.0
231.3
13.2
51.1
367.2
1,054.5
468.9
188.6
261.9
18.4
145.2
266.3
1,045.5
571.5
274.5
288.3
8.7
120.5
311.2
994.7
511.1
307.0
201.8
2.3
202.0
630.7
1,241.7
644.2
292.0
335.3
17.0
103.9
5.8
1,347.2
603.4
245.7
332.6
25.0
229.1
231.9
1,235.0
677.4
325.6
334.6
17.2
174.2
359.0
82.2
-63.6
97.5
210.7
17.6
96.5
114.4
157.1
63.7
19.2
2.5
-3.1
-30.1
-40.1
7.0
-.4
24.4
86.8
-9.0
-4.8
160.7
34.4
18.5
-2.9
13.7
-4.6
12.1
-3.5
33.6
72.3
-5.3
-4.1
116.7
-2.7
5.2
-4.7
121.3
2.8
39.5
-6.5
157.3
51.7
-31.5
1,646.9
2,259.4
2,092.2
2,602.8
Financial sectors
877.5
823.3
1,009.2
803.2
932.7
735.9
835.4
613.2
1,293.8
671.3
1,224.4
131.7
235.2
199.7
160.7
3.8
42.5
4.9
-45.3
304.1
338.5
239.4
13.0
25.5
2.2
-63.5
219.8
326.8
323.7
1.5
6.8
8.2
-63.8
243.7
330.5
463.9
-4.8
31.2
8.3
34.2
65.0
53.0
538.0
12.5
74.1
26.3
-2.5
211.9
88.0
497.0
-25.8
148.1
15.9
-31.4
93.1
62.1
563.0
44.2
-15.7
20.6
41.1
-45.5
-64.6
763.0
14.2
85.1
42.1
122.1
-209.6
64.7
581.0
5.3
27.0
22.7
473.2
-84.2
122.6
672.5
-24.0
114.5
19.3
140.2
-243.9
178.4
527.4
38.6
10.8
19.9
-48.4
200.7
175.9
855.4
.4
25.0
15.6
60.0
27.3
.0
-.7
235.2
199.7
157.2
81.9
.0
2.6
15.6
52.9
-2.0
1.5
.6
304.1
338.5
230.4
1.3
.0
3.2
1.4
-54.6
49.7
-23.4
2.0
2.0
219.8
326.8
181.9
42.2
.0
24.5
-1.7
-.5
49.2
6.1
2.2
2.9
243.7
330.5
219.5
118.2
.0
31.9
6.4
-1.4
77.7
64.4
2.3
3.0
65.0
53.0
325.1
117.9
.0
98.4
15.2
-18.9
6.8
166.6
4.9
2.7
211.9
88.0
361.8
-8.4
.0
63.9
2.5
32.1
60.1
-7.0
.9
.1
93.1
62.1
425.4
115.5
.0
42.1
33.2
-89.6
61.2
96.9
6.1
9.7
-45.5
-64.6
367.9
253.2
.0
220.7
-26.6
-43.6
163.0
-30.6
1.5
-1.6
-209.6
64.7
448.1
75.8
.0
73.0
11.2
17.6
41.4
82.4
3.1
2.3
-84.2
122.6
680.8
-23.6
.0
92.8
-5.2
381.4
82.6
-7.1
.3
.4
-243.9
178.4
689.2
-71.7
.0
66.0
28.0
-50.9
53.7
19.8
8.1
.6
200.7
175.9
761.2
177.3
28 Total net borrowing by financial sectors
29
30
31
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency-and GSE-backed mortgage pool securities .
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
47
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
-33.4
-228.3
36
Federal Reserve Bulletin Statistical Supplement • March 2006
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS1—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q2'
Q3'
Q4'
Ql'
Q2'
Q3'
Q4
48 Total net borrowing, all sectors . . . .
1,666.5
1,929.0
2,213.1
2,712.8
2,818.1
2,579.6
2,768.3
3,094.8
2,969.4
3,386.0
3,197.3
3,827.2
49
50
51
52
53
54
55
56
57
211.6
-294.9
433.9
23.6
344.5
113.3
120.8
545.6
168.1
-147.8
-5.1
642.1
122.9
568.6
-75.8
30.6
661.3
132.3
-91.5
257.1
547.2
159.4
487.6
-80.2
24.7
821.7
87.1
-81.6
398.4
571.9
135.1
664.1
-92.6
39.1
990.1
88.4
113.6
362.5
117.5
133.1
634.9
48.5
96.0
1,223.2
88.8
__3
370.8
296.3
70.2
463.5
66.5
132.4
1,127.2
52.8
15.4
266.5
155.1
157.3
701.5
3.7
-20.3
1,359.6
129.4
176.4
310.9
-109.8
130.9
935.7
151.3
182.9
1,225.7
90.9
189.4
631.5
-145.7
225.4
611.5
106.4
107.5
1,170.5
72.8
516.0
7.2
37.0
125.7
775.1
180.9
180.6
1,484.9
78.5
261.5
232.3
-65.9
249.7
625.6
87.2
25.2
1,667.5
114.3
-13.3
358.2
377.3
202.3
934.6
256.8
170.8
1,556.2
-15.8
Open market paper
Treasury securities
Agency- and GSE-backed securities . .
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
Funds raised through mutual funds and corporate equities
58 Total net issues .
244.7
299.5
228.8
407.1
349.5
252.5
300.6
274.6
379.5
55.6
-122.5
59 Corporate equities
60
Nonfmancial corporations
61
Foreign shares purchased by U.S. residents . .
62
Financial corporations
63 Mutual fund shares
5.3
118.2
106.7
16.8
239.4
98.3
-48.1
109.1
37.3
201.2
46.4
-41.6
17.0
71.0
182.4
119.1
-57.8
114.2
62.7
288.0
50.4
-141.1
83.2
108.3
299.1
136.9
-121.9
160.9
97.9
115.6
-8.3
-203.6
67.0
128.4
308.9
-33.2
-173.1
38.5
101.4
307.8
-18.7
-248.6
159.3
70.6
398.1
-169.2
-339.6
95.6
74.8
224.8
-316.3
-481.1
138.5
26.3
193.8
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.
73.0
-140.1
-394.6
156.7
97.8
213.1
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q2'
Q3'
Q4'
Ql'
Q2'
Q3'
Q4
NET LENDING IN CREDIT MARKETS2
1 Total net lending in credit markets
2 Domestic 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
11
Commercial banking
12
U.S.-chartered commercial 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 Property-casualty insurance companies . . . .
19 Life insurance companies
20
Private pension funds
21
State and local government retirement funds
22
Federal government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Exchange-traded funds
27
Government-sponsored enterprises
28 Agency- and GSE-backed mortgage pools
29
Asset-backed securities issuers (ABSs)
30
Finance companies
31
Mortgage companies
32
Real estate investment trusts (REITs)
33
Brokers and dealers
34 Funding corporations
1,666.5
1,929.0
2,213.1
2,712.8
2,818.1
2,579.6
2,768.3
3,094.8
2,969.4
3,386.0
3,197.3
3,827.2
24.5
-87.4
26.1
2.1
72.1
11.6
241.9
1,400.1
33.7
357.9
339.5
23.9
-12.2
6.7
56.2
28.0
-8.7
57.9
-96.4
36.3
2.1
138.3
20.9
-5.6
.0
246.0
199.7
144.3
108.6
.0
-5.3
68.9
17.3
-72.8
-175.0
-4.3
7.1
93.4
6.0
305.3
1,696.5
39.9
205.2
191.6
-.6
4.2
10.0
44.4
41.5
9.0
130.9
13.3
-53.8
9.7
267.3
126.1
3.2
.0
304.7
338.5
217.0
-4.8
.0
8.6
92.4
-96.6
103.6
-17.9
26.1
-.8
86.5
9.6
422.7
1,686.8
77.7
404.4
393.8
6.2
3.1
1.3
33.4
42.7
39.9
233.0
25.7
-50.7
13.0
-17.7
144.2
8.6
3.7
224.1
326.8
189.9
21.2
.0
23.8
28.4
-85.1
236.3
186.2
-1.1
1.2
52.5
-2.5
531.6
1,945.0
37.2
299.5
323.3
-43.0
8.6
10.6
126.0
50.7
67.0
180.6
14.2
11.2
6.3
-95.9
137.7
36.2
.7
236.5
330.5
226.1
84.2
.0
25.7
79.6
90.9
217.5
112.5
27.2
12.1
61.8
3.9
754.4
1,846.2
51.2
582.2
548.0
20.3
.0
13.9
172.8
42.0
73.6
173.0
34.9
27.2
4.6
-124.9
117.1
11.2
3.8
46.2
53.0
325.6
129.6
.0
87.9
-29.2
64.4
99.7
32.3
41.7
11.5
26.2
-11.9
793.6
1,686.2
53.5
486.6
495.7
-25.3
-2.3
18.5
186.5
58.8
65.1
162.2
22.9
67.4
6.8
-151.8
8.1
21.7
3.5
168.0
88.0
379.1
64.9
.0
56.0
-118.8
57.6
502.3
423.5
-13.1
13.2
54.1
24.6
593.0
1,673.0
71.3
263.5
252.7
-2.7
3.0
10.5
128.0
18.9
73.5
158.2
44.9
-63.1
10.8
-153.7
103.4
.3
2.2
104.3
62.1
433.1
90.1
.0
31.9
302.8
-9.8
430.0
287.9
57.2
14.2
72.6
-1.9
817.0
1,847.7
57.6
714.7
615.5
86.5
-2.0
14.8
259.2
43.3
50.6
154.9
27.0
-5.1
.1
17.7
125.2
12.7
4.2
-106.0
-64.6
332.6
191.4
.0
177.3
-110.7
-34.3
28.8
-128.9
16.6
10.4
130.6
.2
788.1
2,152.5
-10.5
982.5
760.2
219.7
-9.4
12.0
8.8
46.5
89.0
187.4
7.5
60.0
8.5
-198.5
206.9
6.4
11.7
-65.5
64.7
438.8
4.5
.0
37.6
67.3
199.0
155.0
14.7
64.4
16.6
75.9
-16.6
736.4
2,494.6
32.0
597.2
426.8
126.6
29.4
14.4
239.7
41.6
49.2
65.8
46.5
-23.6
11.3
-78.5
120.1
4.0
3.5
-66.5
122.6
661.4
14.6
.0
120.1
280.5
253.0
574.6
380.6
24.5
17.0
134.4
18.1
916.0
1,706.7
66.8
696.1
569.2
167.5
-46.0
5.5
141.8
26.5
115.6
80.5
47.2
-58.6
8.1
-49.2
103.8
-.8
7.1
-277.9
178.4
670.0
55.7
.0
89.1
-330.3
137.0
280.0
238.0
-25.2
16.0
55.9
-4.7
1,143.6
2,403.7
17.3
315.1
245.3
55.0
9.3
5.6
132.0
41.0
73.8
115.5
-10.0
-19.0
2.9
285.8
82.4
-2.8
4.8
149.2
175.9
726.5
186.5
.0
100.2
346.7
-320.1
1,666.5
1,929.0
2,213.1
2,712.8
2,818.1
2,579.6
2,768.3
3,094.8
2,969.4
3,386.0
3,197.3
3,827.2
-.4
-4.0
2.4
126.9
12.0
-113.6
231.0
116.2
232.5
114.5
5.3
239.4
402.3
146.1
50.2
189.8
25.9
-52.2
,379.5
4.3
.0
1.3
6.8
-28.0
156.8
314.6
68.5
428.5
23.7
98.3
201.2
-80.4
3.1
77.2
213.2
14.4
-22.1
673.4
3.2
.0
1.0
21.0
17.4
-9.0
323.4
50.0
-16.7
106.6
46.4
182.4
70.8
-87.0
60.1
181.4
22.2
-83.1
480.5
-.9
.0
.6
22.3
-14.6
81.7
306.9
61.8
-207.5
227.2
119.1
288.0
33.1
132.5
66.8
213.9
-1.0
22.7
522.9
-3.2
.0
.7
111.3
-5.0
89.7
283.1
246.6
-136.5
83.2
50.4
299.1
205.3
166.6
33.1
230.8
28.1
-55.5
1,421.4
16.2
239.0
56.9
466.3
178.1
-85.9
-278.2
136.9
115.6
140.4
177.1
34.7
205.0
26.6
-20.7
1,074.5
.7
79.8
-45.7
20.8
239.3
207.4
-156.1
396.8
-8.3
308.9
185.5
-10.2
37.9
211.8
25.9
-79.7
1,537.2
196.6
-8.0
164.0
270.6
322.8
-171.8
-45.8
-33.2
307.8
220.2
214.3
34.4
208.2
21.6
-85.1
1,363.7
-14.5
.0
.8
371.2
142.6
53.2
128.8
258.0
-71.4
580.7
-18.7
398.1
145.3
9.7
56.0
226.8
41.1
-16.2
577.1
.0
1.1
-36.4
163.4
-65.8
293.7
237.3
60.7
422.8
-169.2
224.8
234.6
97.2
56.9
181.1
11.4
-38.1
1,407.9
-7.2
.0
.9
28.7
-66.8
-83.9
463.5
378.8
222.2
259.2
-316.3
193.8
274.3
6.3
33.3
184.6
12.9
-74.2
980.5
.0
.3
30.0
-266.7
105.6
386.6
196.1
296.5
179.8
-140.1
213.1
242.9
-143.9
62.5
225.2
39.0
-38.8
-469.4
4,770.3
4,083.7
3,583.6
4,588.1
5,867.2
5,058.4
5,718.0
6,072.2
6,472.0
5,687.9
4,748.8
-1.2
76.4
17.3
133.9
32.6
-367.6
-.1
-12.9
17.2
-58.1
21.4
-301.7
-.6
22.3
7.2
40.2
19.7
-41.8
-.3
39.3
-4.4
-31.5
-67.7
-.3
91.1
15.0
-120.3
12.9
444.5
.0
-53.6
70.4
-278.7
12.5
700.7
-.3
120.4
-33.4
84.5
21.5
88.1
-.5
135.5
22.2
-159.8
16.0
506.1
.4
324.7
12.8
351.2
-53.1
-143.3
-123.6
-13.1
219.3
5.6
316.1
1.7
-77.7
.0
-78.3
36.7
-28.0
-.4
45.7
37.8
44.3
15.4
-172.1
9.0
-.3
23.5
5.7
-.5
10.9
-1.6
-.7
150.0
-8.9
.0
50.3
27.9
-.2
7.6
-10.5
-.4
-61.5
23.5
-.1
31.9
-17.1
-1.0
-84.5
-37.7
-.6
-60.2
31.5
.8
-23.0
-4.8
1.5
-29.8
4,846.7
4,401.8
3,388.8
4,633.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
35 Netflowsthrough credit markets
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
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
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.
4,679.4
2. Excludes corporate equities and mutual fund shares.
4,811.2
38
1.59
Federal Reserve Bulletin Statistical Supplement • March 2006
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
2004
Transaction category or sector
2001'
2002'
2003'
2005
2004
Q2'
Q3'
Q4'
Ql'
Q2'
Q3'
Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
19,148.4
20,467.4
22,149.2
24,096.7
22,989.7
23,507.2
24,096.7
24,596.2
25,082.1
25,704.2
26,391.3
2
3
4
5
6
7
8
9
10
11
12
13
14
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities and loans
Corporate bonds
Bank loans n e e
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
190.1
3,352.7
26.8
1,603.7
2,578.0
1 257 0
941.0
7 337 1
5,571.3
428.8
1,219.1
117.8
1,862.0
126.0
3,609.8
27.3
1,763.1
2,710.3
1,170.0
961.3
8,150.6
6,244.2
466.0
1,315.0
125.5
1,949.1
85.9
4,008.2
24.9
1,898.2
2,868.6
1,122.3
971.3
9,132.4
7,024.1
536.1
1,438.7
133.5
2,037.5
101.7
4,370.7
24.3
2,031.3
2,946.3
1,155.8
996.3
10,344.1
8,016.2
586.3
1,599.7
141.9
2,126.3
102.5
4,185.4
24.2
1,974.0
2,898.8
1,127.7
976.8
9,670.8
7,468.7
560.1
1,503.5
138.4
2,029.5
109.3
4,268.7
24.2
1,993.7
2,911.7
1,120.6
971.1
10,032.2
7,771.0
571.5
1,549.0
140.6
2,075.7
101.7
4,370.7
24.3
2,031.3
2,946.3
1,155.8
996.3
10,344.1
8,016.2
586.3
1,599.7
141.9
2,126.3
115.6
4,535.6
24.1
2,086.0
2,955.1
1,172.5
1,010.3
10,592.1
8,213.9
596.9
1,638.3
143.0
2,105.0
114.6
4,493.1
23.7
2,134.6
2,962.7
1,224.4
1,041.1
10,967.6
8,507.5
615.7
1,698.1
146.2
2,120.3
119.6
4,566.0
23.6
2,176.4
2,987.9
1,236.1
1,039.6
11,391.0
8,847.3
628.8
1,766.6
148.3
2,164.0
93.8
4,678.0
23.8
2,232.0
3,007.0
1,295.7
1,077.7
11,794.5
9,149.0
647.2
1,847.4
150.9
2,188.7
15
16
17
18
19
20
21
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
7,561.1
6,909.7
4,758.4
1,959.3
192.0
1,298.1
3,379.5
8,297.3
7,091.1
4,783.4
2,107.8
199.8
1,442.0
3,637.0
9,253.8
7,302.6
4,890.3
2,204.8
207.5
1,559.7
4,033.1
10,292.0
7,731.8
5,064.8
2,447.7
219.2
1,678.0
4,395.0
9,685.7
7,467.5
4,944.2
2,310.7
212.6
1,626.9
4,209.6
9,991.7
7,577.7
4,985.1
2,375.0
217.6
1,644.9
4,292.9
10,292.0
7,731.8
5,064.8
2,447.7
219.2
1,678.0
4,395.0
10,463.1
7,845.3
5,130.5
2,498.6
216.2
1,728.1
4,559.7
10,780.9
8,013.6
5,207.0
2,582.5
224.1
1,770.8
4,516.8
11,146.5
8,159.3
5,264.0
2,664.5
230.8
1,808.8
4,589.6
11,496.6
8,337.5
5,354.1
2,748.8
234.6
1,855.3
4,701.9
22 Foreign credit market debt held in
United States
773.4
960.7
1,142.3
1,247.6
1,148.1
1,172.5
1,247.6
1,252.4
1,277.4
1,305.2
1,342.6
23
24
25
26
106.7
557.1
63.2
46.4
142.8
705.2
68.6
44.1
165.1
874.4
60.9
42.0
228.7
916.7
63.3
38.9
183.4
863.2
60.9
40.5
189.2
884.9
58.7
39.7
228.7
916.7
63.3
38.9
232.6
915.5
66.3
38.0
242.1
933.6
65.0
36.7
270.1
932.9
66.3
35.9
298.6
933.6
76.2
34.2
19,921.8
21,428.1
23,291.4
25,344.3
24,137.8
24,679.7
25,344.3
25,848.6
26,359.5
27,009.4
27,733.9
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total credit market debt owed by nonfinancial
sectors, domestic and foreign
Financial sectors
28 Total credit market debt owed by
financial sectors
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool
securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
47
48
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Brokers and dealers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Funding corporations
29
30
31
8,982.3
9,805.6
10,800.8
11,618.8
11,163.4
11,368.6
11,618.8
11,745.6
12,046.2
12,148.3
12,496.0
1,169.4
2,130.6
1,105.9
2,350.4
1,042.1
2,594.1
1,076.3
2,659.2
1,028.2
2,647.3
1,022.0
2,670.5
1,076.3
2,659.2
1,087.9
2,606.8
1,179.2
2,585.7
1,216.7
2,524.8
1,248.1
2,574.9
2,831.8
2 197 2
104.1
463.7
85.6
3,158.6
2 520 9
105.6
470.5
93.8
3,489.1
2 970 8
100.8
501.7
102.1
3,542.2
3 523 7
113.3
575.8
128.4
3,523.5
3 194 4
99.2
558.1
112.7
3,543.6
3,347.9
112.5
554.3
117.8
3,542.2
3,523.7
113.3
575.8
128.4
3,547.1
3,676.7
114.6
578.6
134.0
3,567.9
3,853.2
109.5
611.9
138.8
3,616.9
3,910.0
121.5
614.5
143.8
3,677.5
4,109.2
118.4
620.1
147.7
296.0
266.1
285.7
4.9
3.1
2,130.6
2,831.8
1,706.0
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
1,887.8
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
2,093.3
47.0
939.6
16.0
227.7
447.4
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,418.4
62.2
1,057.4
16.0
340.9
428.5
358.7
351.5
308.0
9.6
8.6
2,647.3
3,523.5
2,215.3
60.6
963.1
16.0
260.4
440.8
356.8
366.6
308.2
9.9
8.6
2,670.5
3,543.6
2,317.3
68.9
995.1
16.0
285.8
421.3
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,418.4
62.2
1,057.4
16.0
340.9
428.5
373.0
403.3
324.3
11.8
10.7
2,606.8
3,547.1
2,524.3
65.0
1,067.7
16.0
359.2
436.5
383.4
408.6
344.1
12.5
11.2
2,585.7
3,567.9
2,696.0
63.7
1,068.3
16.0
382.4
506.2
389.1
421.5
344.3
12.6
11.3
2,524.8
3,616.9
2,863.6
70.7
981.4
16.0
398.9
497.1
394.4
429.5
348.9
14.7
11.5
2,574.9
3,677.5
3,063.2
62.4
1,023.4
16.0
421.1
458.5
All sectors
49 Total credit market debt, domestic and foreign .
50
51
52
53
54
55
56
57
58
Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
28,904.1
31,233.7
34,092.2
36,963.1
35 JO 1.2
36,048.3
36,963.1
37,594.2
38,405.7
39,157.7
40,229.9
1,466.2
3 352 7
4,989.1
1,603.7
5,332.3
1,424.3
1,451.1
7,422.6
1,862.0
1,374.7
3,609.8
5,536.3
1,763.1
5,936.4
1,344.2
1,475.9
8,244.4
1,949.1
1,293.1
4,008.2
6,108.1
1,898.2
6,713.7
1,283.9
1,515.0
9,234.4
2,037.5
1,406.7
4,370.7
6,225.6
2,031.3
7,386.6
1,332.4
1,611.0
10,472.4
2,126.3
1,314.2
4,185.4
6,195.0
1,974.0
6,956.4
1,287.9
1,575.4
9,783.4
2,029.5
1,320.5
4,268.7
6,238.3
1,993.7
7,144.5
1,291.8
1,565.1
10,150.0
2,075.7
1,406.7
4,370.7
6,225.6
2,031.3
7,386.6
1,332.4
1,611.0
10,472.4
2,126.3
1,436.1
4,535.6
6,177.9
2,086.0
7,547.3
1,353.5
1,626.8
10,726.1
2,105.0
1,535.9
4,493.1
6,177.3
2,134.6
7 749.4
1,398.9
1,689.7
11,106.5
2,120.3
1,606.4
4,566.0
6,165.3
2,176.4
7,830.8
1,423.9
1,690.0
11,534.9
2,164.0
1,640.5
4,678.0
6,276.3
2,232.0
8,049.8
1,490.3
1,732.0
11,942.2
2,188.7
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.
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction category or sector
Q2'
Q3'
Q4'
Ql'
Q2'
Q3'
Q4
CREDIT MARKET DEBT OUTSTANDING2
1 Total credit market assets
28,904.1
31,233.7
34,092.2
36,963.1
35,301.2
36,048.3
36,963.1
37,594.2
38,405.7
39,157.7
40,229.9
3,756.8
2,174.1
246.1
73.0
985.0
278.6
2,949.0
22,198.3
551.7
5,210.5
4,610.1
510.7
24.7
65.0
1,133.2
421.2
518.4
2,074.8
637.3
689.4
44.8
1,584.9
1,223.8
108.5
.0
2,099.1
2,831.8
1,602.6
846.4
32.1
48.0
316.0
223.8
3,924.5
2,220.5
272.2
72.2
1,071.4
288.2
3,424.1
23,885.1
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,166.6
463.9
558.3
2,307.8
663.0
638.7
57.8
1,567.1
1,368.0
117.1
3.7
2,323.2
3,158.6
1,792.5
867.6
32.1
71.8
344.4
138.7
4,311.3
2,557.2
271.1
73.4
1,124.0
285.6
3,918.4
25,862.5
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,292.6
514.5
625.2
2,488.3
677.2
649.9
64.1
1,471.3
1,505.7
153.3
4.5
2,559.7
3,489.1
2,004.6
951.8
32.1
97.5
424.1
229.6
4,539.8
2,680.8
298.3
85.5
1,185.8
289.5
4,679.7
27,743.6
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.5
698.8
2,661.4
712.1
677.1
68.8
1,346.3
1,622.8
164.5
8.2
2,605.9
3,542.2
2,330.2
1,081.4
32.1
200.1
394.9
294.0
4,276.7
2,492.5
269.1
78.7
1,152.6
283.8
4,321.2
26,703.4
687.4
6,270.2
5,665.7
484.0
36.1
84.5
1,391.2
541.5
667.8
2,586.1
694.2
694.1
66.0
1,352.0
1,558.9
161.2
6.6
2,603.8
3,523.5
2,134.0
1,009.9
32.1
133.0
325.5
264.2
4,364.4
2,554.7
275.2
82.0
1,162.5
289.9
4,475.4
27,208.5
700.3
6,336.9
5,734.3
478.6
36.9
87.1
1,426.9
547.7
686.2
2,631.6
705.4
678.4
68.8
1,322.1
1,586.7
161.3
7.2
2,631.3
3,543.6
2,238.0
1,033.4
32.1
155.8
453.5
261.4
4,539.8
2,680.8
298.3
85.5
1,185.8
289.5
4,679.7
27,743.6
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.5
698.8
2,661.4
712.1
677.1
68.8
1,346.3
1,622.8
164.5
8.2
2,605.9
3,542.2
2,330.2
1,081.4
32.1
200.1
394.9
294.0
4,505.0
2,621.3
289.7
88.1
1,216.3
289.5
4,866.7
28,222.5
717.3
6,745.2
6,054.3
563.1
34.0
93.8
1,495.8
566.0
721.1
2,713.8
714.0
692.1
70.9
1,294.3
1,670.0
166.1
11.2
2,581.4
3,547.1
2,433.8
1,076.8
32.1
209.5
440.0
324.1
4,587.8
2,676.8
298.1
92.3
1,235.3
285.4
5,061.9
28,756.1
724.7
6,909.7
6,178.8
592.1
41.4
97.4
1,550.2
579.0
733.4
2,728.9
725.6
686.2
73.7
1,252.7
1,697.1
167.1
12.0
2,571.2
3,567.9
2,600.6
1,085.4
32.1
239.5
457.3
361.7
4,599.3
2,633.1
314.6
96.5
1,265.3
289.9
5,296.6
29,261.7
736.4
7,084.1
6,327.3
628.2
29.9
98.8
1,588.8
587.2
762.3
2,754.9
737.4
671.5
75.7
1,246.8
1,725.4
166.9
13.8
2,503.1
3,616.9
2,763.5
1,101.1
32.1
261.8
432.0
400.0
4,725.9
2,733.4
318.4
100.5
1,285.0
288.7
5,575.7
29,928.3
744.2
7,190.7
6,410.0
648.3
32.2
100.2
1,615.9
595.4
780.8
2,773.7
734.9
666.8
76.5
1,336.2
1,751.1
166.2
15.0
2,540.8
3,677.5
2,954.4
1,146.7
32.1
286.9
486.0
356.6
28,904.1
31,233.7
34,092.2
36,963.1
35,301.2
36,048.3
36,963.1
37,594.2
38,405.7
39,157.7
40,229.9
46.8
2.2
24.5
810.1
191.4
1,360.2
3,370.5
1,121.0
2,240.6
1,233.7
4,135.5
825.9
880.0
8,571.8
2,667.3
219.2
11,378.5
55.8
2.2
25.5
831.1
206.0
1,351.2
3,693.9
1,171.0
2,223.9
1,340.3
3,638.4
738.8
920.9
7,814.8
2,738.1
241.4
11,993.8
62.3
2.2
26.0
853.4
192.9
1,432.9
4,000.8
1,232.8
2,016.4
1,567.5
4,653.2
871.3
1,013.2
9,213.9
2,771.1
240.5
12,405.6
62.2
2.2
26.7
964.7
187.6
1,522.6
4,283.9
1,504.9
1,879.8
1,650.7
5,436.0
1,037.9
1,060.4
10,150.0
2,976.4
268.6
13,607.8
58.9
2.2
26.5
895.6
167.1
1,468.7
4,172.5
1,378.6
1,914.8
1,569.2
4,966.2
987.2
1,031.9
9,537.5
2,858.6
261.3
12,823.9
58.7
62.2
2.2
26.7
964.7
187.6
1,522.6
4,283.9
1,504.9
1,879.8
1,650.7
5,436.0
1,037.9
1,060.4
10,150.0
2,976.4
268.6
13,607.8
56.3
2.2
26.9
1,057.5
195.6
1,500.3
4,362.2
1,575.4
1,841.0
1,782.8
5,471.6
1,051.5
1,069.4
9,957.0
2,993.9
284.0
13,660.6
54.3
52.0
26.7
915.5
168.3
1,464.0
4,223.6
1,436.4
1,866.9
1,673.5
4,983.2
985.5
1,038.2
9,534.5
2,911.6
275.3
13,073.3
27.2
1,048.4
227.9
1,515.1
4,408.0
1,637.1
1,832.4
1,911.3
5,594.1
1,064.5
1,087.2
10,151.3
3,056.0
286.8
13,871.5
27.4
1,055.6
227.3
1,481.4
4,513.0
1,738.0
1,876.6
1,983.9
5,877.5
1,068.0
1,101.7
10,402.5
3,130.1
298.2
13,609.7
45.9
2.2
27.5
1,063.1
182.3
1,524.9
4,602.0
1,772.4
2,006.9
2,011.3
6,045.1
1,030.2
1,120.8
10,646.7
3,200.7
294.7
13,409.0
53 Total liabilities
67,983.3
70,220.9
76,648.0
83,585.5
79,422.2
80,685.7
83,585.5
84,482.3
86,180.8
87,602.8
89,215.5
Financial assets not included in liabilities (+)
54 Gold and special drawing rights
55 Corporate equities
56 Household equity in noncorporate business . . .
15,310.6
4,796.7
23.2
11,900.5
4,943.3
23.7
15,618.5
5,365.0
24.6
17,389.3
5,868.9
23.7
16,118.0
5,557.7
23.8
15,780.1
5,734.6
24.6
17,389.3
5,868.9
22.6
16,998.1
6,065.1
22.3
17,158.5
6,279.2
19.3
17,860.4
6,497.7
19.3
18,199.4
6,677.1
-8.6
630.9
11.1
372.4
93.3
-3,476.6
-9.1
653.2
15.5
412.6
126.3
-3,295.7
-9.5
692.5
12.6
390.7
69.3
-3,068.4
-9.7
783.6
27.3
270.4
96.7
-2,817.6
-9.5
719.6
27.4
306.3
78.8
-2,902.3
-9.6
749.7
20.4
339.8
91.1
-2,812.6
-9.7
783.6
27.3
270.4
96.7
-2,817.6
-9.6
864.8
35.7
355.0
91.0
-2,973.0
-9.4
833.9
23.3
431.4
96.1
-2,967.4
-9.0
814.5
27.6
428.8
83.3
-3,233.7
-9.1
825.9
38.2
404.5
94.3
-3,530.5
-12.3
21.6
145.9
-11.7
20.9
295.9
-17.9
20.8
346.2
11.2
20.6
353.8
.1
20.0
258.3
3.1
12.5
280.8
11.2
20.6
353.8
4.9
16.4
301.6
1.7
19.6
236.0
2.5
12.4
246.2
1.4
20.8
304.4
90,334.8
88,880.2
99,219.0
108,132.1 102,622.9 103,548.8 108,132.1 108,881.3 110,975.4 113,607.6
115,961.2
2 Domestic 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
11
Commercial banking
12
U.S.-chartered commercial 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 Property-casualty insurance companies . . . .
19 Life insurance companies
20
Private pension funds
21
State and local government retirement funds
22
Federal government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Exchange-traded funds
27
Government-sponsored enterprises
28 Agency- and GSE-backed mortgage pools
29
Asset-backed securities (ABSs) issuers
30
Finance companies
31
Mortgage companies
32
Real estate investment trusts (REITs)
33
Brokers and dealers
34 Funding corporations
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
35 Total credit market debt
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
57
58
59
60
61
62
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
Miscellaneous
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
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.
2. Excludes corporate equities and mutual fund shares.
40
Federal Reserve Bulletin Statistical Supplement • March 2006
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2005
2005
2005
Series
Ql
Q2
Q3
Q4'
Q1
Q2
Q3
Q4
Capacity (percent of 2002 output)
Output (2002=100)
Q1
Q2
Q3
Q4'
Capacity utilization rate (percent)2
1 Total industry
107.2
107.6
108.0
109.4
134.2
134.7
135.3
135.9
79.9
79.9
79.8
80.5
2 Manufacturing
3
Manufacturing (NAICS)
108.3
108.7
108.6
109.0
109.2
109.7
111.6
112.2
137.6
138.9
138.3
139.6
139.1
140.4
139.9
141.3
78.7
78.3
78.5
78.1
78.5
78.1
79.8
79.5
4
5
114.2
102.7
114.9
98.0
116.9
98.4
121.1
103.5
148.5
123.7
150.0
123.8
151.5
123.9
153.2
123.9
76.9
83.0
76.6
79.1
77.1
79.4
79.1
83.6
105.2
114.1
146.1
105.6
114.6
151.8
106.5
115.5
159.6
108.9
120.3
169.4
141.9
144.4
194.5
142.2
144.3
201.2
142.6
144.3
208.6
143.1
144.2
216.6
74.2
79.0
75.1
74.3
79.4
75.4
74.7
80.1
76.5
76.1
83.5
78.2
103.9
110.6
104.4
109.4
107.5
112.9
110.7
112.2
127.2
137.1
126.8
138.2
126.5
139.5
126.2
141.0
81.7
80.7
82.3
79.1
84.9
80.9
87.7
79.6
106.0
102.1
103.2
91.9
110.1
102.0
104.0
90.1
105.6
101.2
104.4
92.1
115.7
101.8
106.0
91.5
159.1
127.4
129.3
121.3
159.8
127.3
129.3
120.3
160.6
127.3
129.4
119.4
161.3
127.2
129.5
118.5
66.6
80.1
79.8
75.8
68.8
80.1
80.4
74.9
65.8
79.5
80.7
77.2
71.7
80.1
81.9
77.2
99.8
106.2
104.1
103.7
102.1
97.6
106.8
104.0
103.2
102.6
96.4
102.8
101.3
104.6
100.8
98.4
99.7
100.8
107.3
101.6
116.0
113.7
135.1
121.3
117.7
115.9
113.9
135.3
121.1
117.8
115.8
114.0
135.6
120.8
117.9
115.7
114.2
135.9
120.5
118.0
86.0
93.4
77.1
85.5
86.8
84.2
93.8
76.8
85.3
87.1
83.2
90.1
74.7
86.6
85.5
85.0
87.3
74.1
89.0
86.1
20 Mining
21 Electric and gas utilities
100.4
103.1
100.4
104.8
96.4
108.2
92.6
106.5
112.2
123.0
112.0
123.0
111.9
122.9
111.9
122.8
89.4
83.9
89.6
85.2
86.1
88.1
82.8
86.8
MEMOS
22 Computers, communications equipment, and
semiconductors
159.5
165.7
175.9
186.8
211.9
221.8
233.6
246.7
75.3
74.7
75.3
75.7
23 Total excluding computers, communications
equipment, and semiconductors
104.7
104.9
105.0
106.1
130.5
130.7
130.8
131.0
80.2
80.3
80.2
81.0
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
105.3
105.4
105.6
107.6
133.3
133.5
133.8
134.0
79.0
78.9
78.9
80.3
6
8
9
10
11
12
13
14
15
16
17
18
19
Durable manufacturing
Primary metal
Fabricated metal products
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
Paper
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Selected Measures
2.12
41
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION' —CONTINUED
Seasonally adjusted
1973
1975
Previous cycle2
High
Low
High
Latest cycle3
2006
2005
2005
Series
Low
High
Low
Feb.
Sept.
Oct.
Nov.'
Dec'
Jan.'
Feb.'
Capacity ut lization rate (percent)4
1 Total Industry
88.9
74.1
86.6
70.7
85.1
78.6
80.0
79.1
79.9
80.5
81.2
80.8
81.2
2 Manufacturing
3
Manufacturing (NAICS)
88.3
88.4
71.6
71.4
86.2
86.3
68.4
67.8
85.5
85.5
77.1
76.9
78.9
78.5
78.2
77.8
79.4
79.1
79.9
79.6
80.1
79.7
80.5
80.2
80.4
80.1
89.4
101.9
69.7
69.7
86.8
90.4
62.8
46.9
84.6
94.9
73.4
74.6
77.3
82.4
77.2
82.1
79.1
82.9
79.2
83.6
79.0
84.3
79.3
85.9
79.1
85.9
91.7
94.5
69.7
74.5
82.8
92.6
61.8
58.2
81.7
85.3
72.6
73.9
74.2
79.0
74.8
80.5
76.3
82.5
76.2
83.3
75.8
84.5
76.5
83.1
76.9
82.6
86.9
66.1
89.4
76.4
81.5
75.9
75.5
76.8
77.1
78.8
78.6
77.7
77.8
99.3
95.6
68.0
54.6
91.9
95.2
64.7
45.0
89.0
89.3
77.0
56.0
81.6
82.8
86.1
83.1
87.8
82.8
87.6
78.7
87.7
77.3
89.8
79.0
88.2
78.1
75.8
87.6
67.5
72.4
86.7
85.8
68.8
75.6
87.3
86.9
81.3
81.5
66.8
80.2
58.5
78.7
69.7
79.2
72.1
80.2
73.2
80.8
74.0
81.6
75.1
81.5
86.3
89.5
77.6
61.9
84.5
89.9
80.6
72.6
85.9
91.5
81.1
77.6
79.7
75.5
80.8
77.7
81.5
78.4
81.7
77.3
82.5
75.9
82.9
78.0
82.8
77.1
96.7
92.2
85.3
96.1
86.0
74.3
80.8
69.1
61.8
75.5
95.2
91.7
83.2
90.2
88.5
81.3
70.4
68.0
71.3
86.1
93.6
89.0
85.0
89.5
91.0
85.6
83.0
80.0
76.2
80.7
85.9
94.6
77.4
85.4
86.2
83.3
86.3
71.9
88.2
85.1
85.3
83.6
72.7
88.0
85.9
84.0
89.3
74.6
89.1
85.7
85.8
89.1
75.1
90.0
86.6
87.1
91.9
76.0
89.7
85.7
87.5
90.2
75.7
89.5
85.5
20 Mining
21 Electric and gas utilities
93.6
96.3
87.6
82.7
93.9
88.2
78.7
77.6
86.1
92.7
83.6
84.1
89.9
82.7
80.7
88.0
79.6
86.2
83.2
85.4
85.5
88.7
87.5
78.5
87.1
84.7
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.4
88.7
74.0
80.9
74.0
75.7
75.5
74.9
76.2
76.0
74.8
75.4
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.5
85.5
78.8
80.3
79.5
80.3
80.9
81.7
81.4
81.8
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.3
68.1
86.0
77.3
79.2
78.6
80.0
80.4
80.6
81.2
81.0
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 this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
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 November 2005.
The recent annual revision is described in Kimberly Bayard and Charles Gilbert (2006),
"Industrial Production and Capacity Utilization: The 2005 Annual Revision," Federal
Reserve Bulletin, vol. 92, pp. A39-A58, http://www.federalreserve.gov/pubs/bulletin/2006/
ipO6.pdf.
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 • March 2006
2.13
INDUSTRIAL PRODUCTION
Indexes and Gross Value1
Monthly data seasonally adjusted
Group
2002
proportion
Apr.
May
June
Aug.
Sept.
Index (2002=100)
MAJOR MARKETS
1 Total IP
2
3
4
5
6
7
8
9
10
11
12
13
14
15
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
Clothing
Chemical products
Paper products
Energy
107.4
107.3
107.2
107.4
108.3
108.3
108.6
107.2
108.4
109.4
110.4
110.2
59.0
31.1
8.9
4.7
0.4
1.5
2.4
22.1
18.3
9.8
1.0
4.9
2.1
3.9
109.3
105.5
109.3
112.6
120.0
105.4
103.9
104.0
103.8
104.4
85.3
104.8
105.4
104.6
07.6
04.7
09.7
13.9
15.0
04.5
03.8
02.8
03.2
03.0
85.8
05.5
04.5
01.1
107.7
104.6
107.7
110.3
113.1
105.5
102.9
103.4
103.1
103.2
85.1
104.7
105.2
104.6
107.7
104.1
106.0
107.8
115.2
102.9
103.0
103.3
103.3
103.2
85.4
105.2
105.6
103.1
108.1
104.6
107.1
109.3
124.7
104.0
102.5
103.5
103.9
104.2
83.3
105.4
106.2
102.0
109.0
105.8
108.5
111.7
120.4
105.6
102.5
104.7
104.0
104.7
82.9
105.2
105.6
107.2
109.1
105.2
107.1
109.5
116.1
105.2
102.3
104.4
103.8
104.7
84.7
104.2
104.7
107.1
109.5
105.6
110.1
114.4
113.6
106.5
103.1
103.9
103.2
103.8
85.0
103.8
104.4
106.5
109.1
106.4
112.7
117.8
113.5
108.5
104.9
103.9
103.7
104.5
85.7
104.2
103.9
105.0
111.0
106.5
113.1
117.3
125.3
108.4
106.3
103.9
104.2
105.3
85.4
104.1
105.3
102.7
111.3
105.7
110.1
111.7
132.1
106.2
106.6
103.9
104.4
105.7
86.2
103.8
104.9
102.3
112.0
106.6
109.0
110.0
133.4
104.7
106.7
105.6
105.3
106.7
86.5
104.5
106.4
106.8
111.4
105.8
110.1
112.1
132.8
105.8
106.1
104.1
105.8
107.1
87.3
105.8
105.8
97.3
112.1
106.6
110.2
112.1
130.4
106.5
106.3
105.1
105.6
107.1
87.1
105.5
105.2
103.2
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.3
1.9
3.1
5.3
1.8
119.5
117.5
134.0
112.8
125.7
15.9
14.8
25.5
11.2
21.6
116.3
115.1
126.3
111.4
122.5
116.8
116.4
127.4
111 .3
124.5
117.9
118.7
129.2
111.7
124.1
118.4
119.3
131.0
111.6
124.9
120.0
118.5
133.9
113.4
126.8
120.1
118.7
136.1
112.5
127.4
115.1
88.9
138.1
113.1
124.6
123.1
121.5
141.3
114.5
127.8
125.8
127.9
144.9
115.5
128.6
126.4
129.3
144.8
116.0
129.8
127.9
134.6
146.5
116.1
129.9
128.0
134.0
148.3
115.6
130.5
21
22
Construction supplies
Business supplies
4.3
11.2
108.7
107.7
06.4
06.1
106.2
106.5
107.3
106.7
107.5
106.7
106.9
107.6
107.5
107.4
108.2
107.9
109.8
107.8
112.4
108.4
113.4
109.1
113.2
110.2
113.3
107.8
113.0
109.1
23 Materials
24
Non-energy
25
Durable
26
Consumer parts
27
Equipment parts
28
Other
29
Nondurable
30
Textile
31
Paper
32
Chemical
33 Energy
41.0
30.7
19.1
4.0
6.7
8.4
11.6
0.8
2.7
4.5
10.3
106.7
110.2
117.1
102.0
143.9
105.2
99.2
84.5
97.1
100.8
97.9
07.0
09.7
15.2
02.4
38.0
04.6
01.0
85.4
98.6
04.9
99.7
106.8
109.4
114.8
100.4
137.8
104.8
100.7
85.1
98.6
103.9
99.8
106.5
109.2
114.9
99.1
139.7
104.5
100.1
83.5
97.5
103.7
99.2
106.5
109.3
115.2
99.5
141.0
104.1
99.8
83.6
96.4
102.6
99.2
107.3
109.5
115.5
102.4
141.7
103.0
99.7
84.4
97.2
102.9
101.3
107.2
109.8
115.9
101.1
143.4
103.2
100.0
85.3
96.1
103.3
100.3
107.4
110.2
117.0
101.6
145.7
104.0
99.3
84.5
96.0
102.1
100.0
104.5
109.4
118.8
103.3
147.2
105.8
94.8
84.3
95.7
90.8
92.8
104.9
110.9
120.1
104.4
149.1
107.0
96.4
84.4
97.1
92.9
90.9
106.9
112.1
120.9
102.1
153.1
107.2
98.3
83.7
96.4
98.4
94.3
108.3
113.0
121.8
102.0
155.3
107.8
99.2
82.6
98.0
99.3
96.9
108.5
113.8
122.4
103.2
155.5
108.4
100.3
84.6
99.1
100.5
95.8
109.3
114.2
122.8
102.7
157.7
108.1
100.7
83.8
100.2
100.7
97.3
94.8
92.6
105.3
107.9
04.9
06.9
104.8
107.1
104.6
107.1
104.7
107.3
105.5
108.0
105.4
108.2
105.5
108.2
104.0
106.5
105.2
107.8
106.0
109.3
107.0
110.5
106.7
110.0
107.3
110.8
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
38
Consumer goods
39
Equipment total .
Nonindustrial supplies .
2,990.4
43.5
31.1
12.4
15.5
2,955.4
2,992.1
2,997.0
3,051.3
3,038.5
2,264.0 2,241.9 2,238.6 2,228.2 2,239.3 2,265.9 2,262.5 2,270.1 2,254.5 2,289.8 2,297.5 2,311.2 2,317.3 2,323.0
1,593.1 1,588.6 1,584.7 1,571.5 1,578.3 1,601.0 1,589.7 1,598.1 1,604.8 1,599.3 1,596.5 1,606.4 1,603.3 1,610.6
719.8
721.9
675.0
656.1
656.8
660.3
664.6
668.2
677.2
676.0
651.3
696.3
707.8
711.6
726.7
717.6
717.2
722.1
721.8
726.5
724.3
727.2
726.9
733.4
741.2
746.6
734.6
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2005
2006
2005
avg.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.r
Dec.'
Jan.'
Feb.'
Index (2002=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
83.9
79.1
109.6
110.0
108.6
109.0
108.2
108.6
108.3
108.6
108.7
109.0
109.0
109.4
109.1
109.6
109.5
110.1
108.9
109.5
110.9
111.5
111.7
112.4
112.2
112.8
113.1
113.8
113.1
113.9
43.6
321
1.5
117.0
107.6
114.8
105.7
114.2
104.9
114.3
104.8
115.0
105.9
115.5
104.4
115.9
104.9
117.3
104.0
117.5
107.2
120.7
112.7
121.2
114.0
121.4
114.1
122.3
111.9
122.5
111.0
327
331
332
333
2.3
2.3
5.7
5.3
107.2
100.7
106.7
115.7
106.4
101.9
105.3
114.0
105.1
102.3
105.0
114.3
105.7
99.5
105.5
114.3
105.9
98.9
105.7
114.5
106.4
95.5
105.6
115.0
105.9
95.3
106.1
116.3
105.9
98.2
106.6
114.1
107.2
101.8
106.8
116.1
108.8
102.7
109.0
119.0
111.6
103.5
109.1
120.2
109.6
104.4
108.5
121.8
111.9
106.3
109.7
119.8
111.6
106.2
110.4
119.2
334
8.0
156.7
146.8
147.4
149.5
152.2
153.6
156.5
160.1
162.1
165.0
170.7
172.5
172.6
174.7
335
3361-3
2.2
7.4
106.9
112.1
103.7
113.4
103.6
109.8
103.5
107.9
104.4
108.8
105.1
111.4
106.3
109.2
107.2
113.1
108.8
116.3
110.9
116.3
110.5
110.9
110.6
109.4
113.2
112.0
111.3
111.1
3364-9
3.6
109.8
106.3
107.5
109.5
110.4
110.2
110.9
111.7
94.2
112.2
116.4
118.3
119.8
121.8
337
339
1.8
3.3
100.7
110.3
102.2
108.9
101.6
108.8
100.0
108.9
100.3
109.0
99.9
109.7
99.8
109.7
100.2
111.6
101.7
111.9
100.5
112.6
100.2
112.2
99.4
111.7
99.3
112.1
100.6
112.6
35.5
101.8
102.2
101.9
101.9
101.9
102.1
102.1
101.5
100.1
100.7
102.0
102.8
103.9
103.7
11.4
104.4
91.4
86.0
98.0
97.7
103.0
91.6
86.1
99.6
97.0
103.3
91.5
85.5
99.8
96.4
103.2
89.6
85.8
98.2
96.5
104.3
89.8
83.9
96.8
97.0
104.5
90.8
83.6
97.8
96.5
104.8
91.9
85.5
96.6
97.9
103.9
91.9
85.9
96.2
97.2
104.6
92.6
86.7
96.5
97.9
105.5
93.2
86.5
98.8
98.2
105.8
91.6
87.5
97.2
98.3
106.8
89.8
87.7
99.3
98.4
107.4
92.0
88.6
100.8
99.9
107.5
90.8
88.2
101.2
101.1
311,2
313,4
315,6
322
323
1.4
1.0
3.1
2.4
324
325
10.7
103.8
102.6
107.6
104.6
105.7
103.8
106.9
104.1
105.5
103.9
107.9
103.9
105.6
103.7
104.2
102.7
98.5
97.5
95.4
98.8
101.9
101.3
101.7
102.2
105.0
103.4
103.1
103.2
326
3.8
104.8
103.7
103.5
103.8
103.1
102.9
103.2
104.1
106.5
106.2
107.4
108.3
108.0
107.8
1133,5111
4.8
101.9
101.5
102.4
102.5
103.2
102.0
101.0
100.9
100.4
101.4
101.1
102.2
101.1
100.9
21
6.4
9.7
8.3
1.5
97.4
105.7
107.4
97.2
100.9
101.7
102.9
95.6
100.4
104.8
105.5
101.1
100.5
103.1
104.1
98.3
99.8
102.9
103.2
101.1
100.8
108.3
109.7
101.2
99.8
108.1
109.6
100.9
99.2
108.4
110.1
100.4
90.3
108.1
110.5
96.5
89.1
105.9
109.5
89.6
93.1
104.8
107.3
93.0
95.7
108.9
110.0
102.7
97.8
96.4
100.1
80.1
97.3
104.0
107.0
90.4
78.7
106.1
105.6
105.2
105.1
105.4
105.7
105.6
105.9
105.2
107.1
107.7
108.1
109.0
108.8
76.5
109.3
108.1
108.1
108.3
108.7
108.8
109.1
109.2
108.2
110.4
111.8
112.5
113.2
113.3
2211,2
2211
2212
1.7
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
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 November 2005.
The recent annual revision is described in Kimberly Bayard and Charles Gilbert (2006),
"Industrial Production and Capacity Utilization: The 2005 Annual Revision," Federal
Reserve Bulletin, vol. 92, pp. A39-A58, http://www.federalreserve.gov/pubs/bulletin/2006/
ipO6.pdf.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • March 2006
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
-519,679
-494,814
1,022,567
-1,517,381
46,304
51,834
121,842
-70,008
-5,530
-71,169
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
-668,074
-617,583
1,151,448
-1,769,031
30,439
36,234
127,921
-91,687
-5,795
-80,930
-804,945
-723,616
1,272,223
-1,995,839
1,567
7,406
129,865
-122,459
-5,839
-82,896
Q4
Q1
Q2
Q3'
Q4
-188,359
-169,221
298,887
-468,108
3,236
4,691
33,413
-28,722
-1,455
-22,374
-197,743'
-172,125'
306,152'
-478,277'
634'
2,044'
28,363'
-26,319'
-1,410'
-26,252'
-196,901'
-172,718'
316,938'
-489,656'
-1,550'
-126'
28,475'
-28,601'
-1,424'
-22,633'
-185,429
-181,400
321,013
-502,413
4,911
6,427
38,855
-32,428
-1,516
-8,940
-224,876
-197,373
328,119
-525,492
-2,434
-944
34,167
-35,111
-1,490
-25,069
537
1,516
606
1,523
0
601
1,494
-572
-398
3,826
-623
4,511
10,200
-615
-110
990
-183
1,713
3 763
-145
-97
-564
-136
4,766
0
2,976
1,951
-161
4,796
0
-81
5,050
-173
-330,457
-9,574
-24,240
-156,064
-140,579
-859,529
-356,133
-149,001
-102,383
-252,012
-513,405
-218,158
-118,522
-155,244
-21,481
-290,155
-97,263
-74,669
-18,226
-99,997
-91,621'
49,278
-74,934
-38,675
-27,290'
-225,596'
-170,985
8,978
-41,979
-21,610'
-147,711
-107,993
-30,440
-34,589
25,311
-48,479
11,542
-22,126
-40,001
2,106
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 assets3
278,275
184,931
39,943
-517
48,643
5,275
394,710
272,648
38,485
488
70,329
12,760
220,676
84,046
93,133
-134
24,272
19,359
94,478
41,728
15,040
-158
32,054
5,814
25,277
14,306
24,938
-650
-15,843
2,526
82,646
22,448
21,620
297
34,190
4,091
38,176
9,651
20,471
467
850
6,737
74,577
37,641
26,104
-248
5,075
6,005
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
610,768
96,675
99,676
104,380
16,640
226,306
67,091
1,045,395
322,627
124,358
106,958
14,827
369,793
106,832
1,072,019
175,742
62,234
196,794
19,416
489,203
128,630
363,437
91,458
61,096
15,710
5,313
158,238
31,622
218,034'
-67,735
93,897
75,911
1,072
79,973
34,916'
293,439'
149,069
1,153
9,923
4,507
114,064
14,723'
357,088
78,698
18,635
40,834
4,679
165,856
48,386
203,460
15,710
-51,451
70,126
9,158
129,310
30,607
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
-3,214
-37,753
-1,648
85,126
-5,647
9,626
-455
19,856
5,718
14,138
-4,466
40,701'
14,746'
25,955
-315
46,553'
-8,639'
55,192
-435
-67,971
-16,767
-51,204
-431
-9,653
10,664
-20,317
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
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
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
1,523
2,805
14,096
697
5,331
-797
4,766
4,796
278,792
394,222
220,810
94,636
25,927
82,349
37,709
74,825
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 11-16, 18-20, 22-35, and 38-41.
2. Associated primarily with military sales contracts and other transactions arranged with
or through foreign official agencies.
3. Consists of investments in U.S. corporate stocks and in debt securities of private
corporations and state and local governments.
4. Reporting banks included all types of depository institutions as well as some brokers
and dealers.
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
2005
Asset
2002
2003
2006
2004
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.'
1 Total
79,006
85,938
86,824
74,620
72,243
71,273
70,218
68,773
65,125
65,594'
65,365
2 Gold stock1
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,043
12,166
11,043
12,638
11,045
13,582
11,041
11,206
11,041
8,304
11,041
8,245
11,041
8,224
11,041
8,180
11,043
8,210
11,044'
8,302
11,044
8,310
21,979
33,818
22,535
39,722
19,479
42,718
13,438
38,935
13,336
39,563
13,245
38,742
12,720
38,234
12,097
37,445
8,036
37,839
7,639
38,609
7,638
38,372
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—$717 million; 1972—$710 million; 1979—
$1,139 million; 1980—$1,152 million; 1981—$1,093 million; plus net transactions in SDRs.
4. Valued at current market exchange rates.
Summary Statistics
3.13
45
FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS'
Millions of dollars, end of period
2005
Asset
2002
2003
July
1 Deposits
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.'
136
162
80
83
81
96
88
82
83
83
82
678,106
9,045
845,080
8,971
1,041,215
8,967
1,070,625
8,967
1,075,098
8,967
1,056,594
8,967
1,060,857
8,967
1,073,710
8,967
1,069,014
8,967
1,080,198
8,967
1,105,178
8,967
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
2006
2004
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
2003
2004
1
1 Total1
By type
2 Liabilities reported by banks in the United States2
2006
2005
2004
Item
June "
June
8
Dec.
Oct.'
Nov.'
Dec'
Jan.p
1,445,526
1,909,034
1,665,335
1,780,503
1,909,034
1,976,834
1,994,587
2,000,811
2,030,558
189,824
212,032
270,387
245,199
234,553
248,862
234,553
248,862
270,387
245,199
288,995
199,801
285,811
214,852
294,662
201,863
295,655
210,459
719,302
2,613
321,755
986,454
1,630
405,364
844,444
1,569
335,907
910,456
1,569
385,063
986,454
1,630
405,364
1,036,636
936
450,466
1,040,367
942
452,615
1,045,977
948
457,361
1,054,378
954
469,112
306,272
5,112
72,869
1,034,751
8,857
17,652
357,317
7,806
112,605
1,388,410
10,843
31,864
334,000
6,578
98,106
1 201 702
10,187
14,749
340,412
7,631
104,911
1 296 622
10,812
19,926
357,317
7,806
112,605
1 388 410
10,843
31,864
377,653
8,137
114,775
1 435 472
10,958
29,650
380,831
7,683
122,557
1 439 327
14,047
29,953
381,475
8,061
118,045
1 447 877
16,241
28,923
391,094
7,619
124,437
1 460 912
17,836
28,471
U.S. Treasury bonds and notes
5
Nonmarketable4
6 U.S. securities other than U.S. Treasury securities5
By area
7 Europe1
9 Latin America and Caribbean
11 Africa
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
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
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
2005
Item
2002
2003
2004
Mar.'
June'
Sept.'
Dec.
2
3
Deposits
Other liabilities
80,543
n.a.
n.a.
63,119
36,674
26,445
98,349
52,410
45,939
93,306
58,073
35,233
103,954
62,557
41,397
109,263
67,663
41,600
85,763
59,259
26,504
5
Deposits
71,724
34,287
37,437
81,669
38,102
43,567
129,544
51,029
78,515
110,083
47,422
62,661
109,206
47,032
62,174
102,462
43,600
58,862
93,744
44,322
49,422
8
Deposits
35,923
n.a.
n.a.
21,365
5,064
16,301
32,056
8,519
23,537
41,261
21,014
20,247
46,658
21,686
24,972
45,076
21,574
23,502
55,214
20,891
34,323
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 • March 2006
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
July
Aug.
Sept.
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
2,964,669 3,005,701
3,016,701
2,082,981
2,281,069
2,178,789
2,236,964
252,429
852,803
824,390
460,191
638,413
955,072
1,127,909
665,127
1,041,970
1,239,099
700,845
975,141
1,203,648
677,002
1,027,517
1,209,447
690,063
1,044,949
1,207,480
719,088
828,535
779,398
785,880
768,737
764,272
318,783
259,575
270,784
271,491
252,174
315,169
320,554
310,864
298,768
302,589
313,245
311,314
34,394
83,633
176,842
48,260
152,789
194,583
53,509
136,721
199,269
51,887
132,475
204,232
50,732
126,541
198,478
51,299
132,250
209,509
55,929
125,064
208,546
54,340
122,035
193,951'
53,509
136,721
199,269
54,199
131,718
202,135
14,149
12,577
6,134
6,443
1,572
110
15,654
10,363
6,098
4,265
5,291
1,879
17,631
12,450
4,865
7,585
5,181
1,085
16,212
10,640
5,020
5,620
5,572
2,122
16,454
10,540
5,781
4,759
5,914
2,131
17,894
11,593
5,615
5,978
6,301
2,097
18,721
13,455
5,888
7,567
5,266
939
17,103
11,179
3,730
7,449
5,924
1,026
17,631
12,450
4,865
7,585
5,181
1,085
15,985
10,710
4,913
5,797
5,275
1,503
1,462
0
3,412
4,096
0
3,448
2
3,779
4
4,197
7
4,325
2
4,896
4,096
0
3,772
401,856
117,737
24,208
93,529
515,586
145,516
26,613
118,903
496,525
168,999
45,381
123,618
490,257
169,936
38,951
130,985
490,944
171,533
40,882
130,651
484,949
169,576
39,338
130,238
488,796
175,429
40,730
134,699
500,663
176,339
44,587
131,752
496,525
168,999
45,381
123,618
506,114
177,251
47,009
130,242
284,119
212,032
370,070
245,199
327,526
201,863
320,321
203,174
319,411
205,404
315,373
195,367
313,367
199,801
324,324
214,852
327,526
201,863
328,863
210,459
69,638
2,449
123,165
1,706
124,538
1,125
116,789
358
113,466
541
119,019
987
111,871
1,695
108,590
124,538
1,125
118,403
1,380,639
1,163,309
706,536
456,773
217,330
18,267
1,574,793
1,354,437
773,703
580,734
220,356
26,978
1,787,181
1,564,019
839,262
724,757
223,162
23,723
1,666,535
1,436,112
773,784
662,328
230,423
28,491
1,717,782
1,493,314
827,029
666,285
224,468
29,867
1,725,142
1,499,359
838,244
661,115
225,783
23,331
1,704,134' 1,787,551' 1,787,181
1,472,556' 1,569,744' 1,564,019
783,701'
845,156'
839,262
688,855'
724,588'
724,757
231,578
217,807
223,162
24,700
22,360
23,723
1,821,496
1,596,425
847,868
748,557
225,071
22,137
49,311
149,752
52,400
140,978
48,756
150,683
47,678
154,254
43,290
151,311
40,696
161,756
47,789
159,089
48,939
146,508
48,756
150,683
48,290
154,644
36 Other foreigners''
37
Banks' own liabilities
38
Deposits2
39
Other
518,962
383,570
115,925
267,645
805,483
572,665
148,658
424,007
759,130
535,601
152,462
383,139
791,665
562,101
157,386
404,715
780,521
561,577
153,825
407,752
788,716
571,901
161,752
410,149
795,933'
566,089'
157,678'
408,411'
779,542'
546,826'
155,042'
391,784'
759,130
535,601
152,462
383,139
775,714
546,664
157,407
389,257
40
41
42
135,392
28,388
232,818
44,727
223,529
32,904
229,564
36,997
218,944
34,089
216,815
31,379
229,844
32,824
232,716'
37,268
223,529
32,904
229,050
35,026
82,363
24,641
136,192
51,899
143,164
47,461
142,949
49,618
138,233
46,622
138,677
46,759
149,260
47,760
148,889
46,559'
143,164
47,461
146,534
47,490
12 Nonmonetary international and regional organizations5 . .
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'"
Other
19
20 Official institutions9
21
Banks' own liabilities
22
Deposits2
23
Other
24
25
26
27
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments''
Other
28 tanks10
29
Banks' own liabilities
30
Deposits2
31
Other
32
Banks' custody liabilities4
33
U.S. Treasury bills and certificates5 . .
34
Other negotiable and readily
transferable instruments'"
35
Other
43
Banks' custodial liabilities
U.S. Treasury bills and certificates5 .
Other negotiable and readily
transferable instruments''
Other
2,315,606
258,797
3,084,859' 3,060,467
3,119,309
3,060,467
,677,193
2 Banks' own liabilities
By type of liability
3
Deposits2
4
Other
5
Of which: repurchase agreements3
6
Banks' custody liabilities4
By type of liability
7
U.S. Treasury bills and certificates5
8
Other negotiable and readily transferable
instruments'"
9
Of which: negotiable time
certificates of deposit held in custody
for foreigners
10
Of which: short-term agency securities7 . . .
11
Other
!,281,069
2,331,050
987,997' 1,048,515' 1,041,970
1,239,532' 1,255,573' 1,239,099
729,065
726,434
700,845
779,398
780,055
780,771'
259,575
258,264
275,506
1,057,197
1,273,853
741,054
2,227,529' 2,304,088'
788,259
269,125
316,999
MEMO
44 Own foreign offices12
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.
Bank-Reported Data
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
47
Reported by Banks in the United States1—Continued
Millions of dollars, end of period
July
Aug.
Sept.
AREA OR COUNTRY
45 Total, all foreigners
2,315,606
2,911,516
3,060,467' 2,964,669
3,005,701
3,016,701
3,007,584" 3,084,859" 3,060,467' 3,119,309
46 Foreign countries
2,301,457
2,895,862
3,042,836' 2,948,457
2,989,247
2,998,807
2,988,863' 3,067,756' 3,042,836' 3,103,324
781,550
4.826
9,359
3.631
1,783
40,719
46,806
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
1,050,895
4,355
13,512
3,147
1,088
81,852
54,822
1,178
7,198
50,305
18,170
32,742
1,545
70,186
8,410
6,118
99,224
5,188
470,304
21,262
110
100,179
1,211,582' 1,129,775
4,473
3,603'
16,304
16,043
5,709
1,537
2,398
3,612
85,014
71,331
59,308
56,905
1,063
1,234
7,741
7,094
56,346
55,562
20,512
14,606
21,084
25,981
2,345
2,717
85,164
101,335
12,479
9,489'
4,086
4,771
100,695
138,973'
7,998
9,895
515,141
556,806'
23,635
29,554'
104
119
98,176
100,415'
1,198,691
4,174
15,302
2,010
1,941
90,213
64,879
1,528
8,470
56,670
17,749
22,033
2,964
83,616
11,962
4,909
159,069
6,601
528,245
1,183,763
4,095
17,892
2,364
747
77,750
64,650
1,113
5,589
58,600
18,729
31,499
2,680
86,022
9,361
3,078
146,994
5,735
531,232
27,614
102
87,917
35,590
34,248
33,188'
37,301
70 Latin America
71
Argentina
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru
80
Uruguay
81
Venezuela
82
Other Latin America17
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
135,970
10,817
15,186
7,299
6,286
2,687
1,530
50,575
4,513
1,971
4,150
24,573
6,383
133,354'
9,600
11,968
8,896
6,429
3,357
1,643
42,584'
5,260
3,063
4,729'
27,295'
8,530'
1,173,282 1,245,750
4,141
5,243
19,069
18,862
2,413
1,765
1,367
972
88,155
87,625
60,068
61,615
1,237
1,375
9,883
6,814
59,764
64,476
18,727
22,233
24,911
20,338
2,860
3,747
88,986
90,716
10,850
11,200
4,671
3 959
149,383
95,612
10,214
6,946
559,532
553,378
27,230
29,568
100
94,594
94,322
38,436
37,331
144,972
131,863
9,981
9,568
17,594
13,754
7,467
6,733
6,700
7,025
3,024
2,956
1,632
1,642
49,333
41,838
4,969
4,769
2,613
3,135
4,979
4,853
28,232
27,608
8,448
7,982
83 Caribbean
84
Bahamas
85
Bermuda
86
Cayman Islands15
87
Cuba
88 Jamaica
89
Netherlands Antilles
90 Trinidad and Tobago
91
Other Caribbean"
969,986
153,554
38,964
739,204
96
669
8,689
1,253
27,557
1,212,209
186,097
92,577
884,980
110
829
5,863
1,624
40,129
92 Asia
China
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea (South)
Philippines
Thailand
Middle Eastern oil-exporting countries19
Other
373,024
420,635
408,257'
13,236
26,808
49,557
14,534
14,373
12,223
162,003
12,647
1,683
7,226
23,626
35,108
52,767
26,496
42,788
11,154
5,903
11,214
167,008
12,421
2,949
11,355
38,257
38,323
46,460'
23,278'
34,400
13,737
4,306
9,789
155,515
27,091
3,785'
9,973
49,545
30,378'
105 Africa
106
Egypt
107
Morocco
108
South Africa
109
Congo (formerly Zaire)
110
Oil-exporting countries20
111
Other
13,828
2,336
376
3,715
18
3,498
3,885
14,580
2,711
156
3,284
4
4,326
4,099
112 Other countries
113 Australia
114
New Zealand21
115 All other
16,913
14,020
2,465
428
116 Nonmonetary international and regional organizations
117
International22
118 Latin American regional23
119
Other regional24
14,149
10,500
420
3,166
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."'
69 Canada
93
94
95
96
97
98
99
100
101
102
103
104
25,886
90,359
38,428
1,211,582' 1,248,498
4,275
3,603'
18,383
16,043
2,231
1,537
5,967
3,612
88,266
71,331
57,905
56,905
1,511
1,234
7,846
7,094
57,698
55,562
17,549
14,606
25,234
25,981
3,165
2,717
99,023
101,335
10,486
9,489'
3,899
4,771
138,973'
102,908
9,895
10,072
556,806'
604,590
29,554'
28,977
104
119
100,415'
98,409
33,188'
37,050
133,354'
9,600
11,968
8,896
6,429
3,357
1,643
42,584'
5,260
3,063
4,729'
27,295'
8,530'
138,294
9,599
13,937
10,140
7,201
3,077
1,994
42,088
5,129
2,997
5,654
27,697
8,781
128,109
9,986
15,139
6,878
6,029
2,927
1,959
38,051
4,770
3,469
4,880
26,428
7,593
40,679
131,770
9,565
16,126
7,312
6,048
2,541
1,848
41,718
4,401
3,679
4,991
25,913
7,628
125,684
9,320
12,860
6,987
6,122
2,832
1,638
40,084
4,552
3,183
4,987
25,395
7,724
1,214,742' 1,214,314
189,942
212,764
63,797
52,171'
919,117
907,167'
115
120
1,230
917
5,736
6,396'
2,415
2,830
31,962
32,377
1,177,489
185,055
64,973
886,603
115
707
5,936
2,381
31,719
1,212,552
192,200
63,693
917,275
116
981
4,939
2,901
30,447
1,210,080
195,531
63,375
911,531
116
829
5,232
2,541
30,925
390,239
396,191
400,309
397,301'
396,834'
408,257'
396,277
51,335
19,938
43,365
14,176
2,635
8,104
150,864
17,011
2,594
9,676
40,960
29,581
52,203
21,918
42,472
12,717
2,296
7,237
150,267
19,397
2,602
9,246
44,001
31,835
57 494
19,982
37,027
11,561
2,805
6,675
154,041
20,581
2,592
10,397
46,853
30,301
50,032'
20,720'
38,005'
11,162
3,226
6,484
152,936'
21,111
3,196'
12,289
49,516
28,624
42,499'
20,485'
36,001
12,083
3,521
5,964
152,195'
26,108
3,013'
11,032
52,900
31,033
46,460'
23,278'
34,400
13,737
4,306
9,789
155,515
27,091
3,785'
9,973
49,545
30,378'
49,509
22,278
28,611
12,036
3,547
9,033
147,945
26,568
3,474
9,249
53,254
30,773
20,217
4,980
138
3,048
7
6,905
5,139
16,470
3,653
129
3,002
8
5,259
4,419
15,646
3,383
131
3,229
5
4,587
4,311
15,577
2,437
166
3,763
4
5,192
4,015
15,291
2,261
151
3,820
5
4,665
4,389
17,753
3,316
105
3,386
12
6,134
4,800
20,217
4,980
138
3,048
7
6,905
5,139
21,077
5,071
162
3,175
4
7,490
5,175
27,325
23,391
3,429
505
21,496'
17,767
3,263'
466'
32,249
27,865
3,690
694
28,781
25,092
2,898
791
22,494
18,931
2,820
743
22,610
18,818
3,051
741
24,529
19,576
4,113
840
21,496'
17,767
3,263'
466'
21,848
17,001
4,327
520
15,654
11,542
1,993
2,006
17,631
12,828
2,036
2,673
16,212
12,535
1,965
1,650
16,454
12,537
2,257
1,601
17,894
13,429
3,004
1,391
18,721
14,157
3,181
1,302
17,103
12,701
2,515
1,785
17,631
12,828
2,036
2,673
15,985
12,022
1,709
2,153
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.
1,200,587' 1,214,742' 1,240,280
212,764
203,620
217,169
52,171'
54,021
57,013
907,167'
903,021'
923,792
120
118
120
917
784
695
6,396'
4,794'
6,111
2,830
2,442
2,961
32,377
31,787'
32,419
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 • March 2006
3.18
BANKS' OWN CLAIMS ON FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Area or country
Aug.
Sept.
1 Total, all foreigners
1,322,363
1,664,223
1,829,837'
1,790,725
1,862,906
1,862,561
1,811,942
1,893,705
1,829,837'
1,883,288
2 Foreign countries
1,317,292
1,658,247
1,822,587'
1,783,292
1,856,389
1,852,890
1,804,903
1,887,912
1,822,587'
1,876,860
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
43,099
0
12,955
806,546
4,429
7,751
735
11,840
90,941
26,196
94
16,906
5,864
22,090
25,517
1,576
1,089
8,452
17,027
114,167
2,542
404,844
26,878
0
17,608
897,402'
4,101
11,859
864'
9,247
88,530
29,976'
95
18,482'
8,200
20,864
12,848
830
1,267
8,371
9,452'
143,871'
3,270
470,203'
31,124'
0
23,948
832,995
5,097
10,759
1,022
9,564
88,218
28,505
110
16,761
4,702
18,812
30,563
1,416
1,235
11,231
12,204
93,503
3,017
452,852
25,723
0
17,701
920,003
4,498
16,237
1,234
9,575
89,660
25,760
154
18,782
5,472
17,902
25,701
1,391
1,017
13,137
12,896
164,255
3,084
461,896
27,667
0
19,685
930,528
4,551
16,305
2,493
9,014
89,631
32,774
108
17,256
7,021
20,301
20,728
1,312
1,013
9,812
10,979
170,296
3,228
462,937
28,273
0
22,496
868,884
5,344
16,362
801
8,609
85,416
31,742
185
18,120
8,301
18,222
23,857
1,216
824
9,246
10,538
103,555
3,097
472,734
29,524
0
21,191
940,279
4,157
15,139
1,207
9,622
86,963
32,993
177
18,507
8,561
18,244
20,534
925
1,148
8,117
9,112
159,547
3,194
492,906
29,584
0
19,642
897,402'
4,101
11,859
864'
9,247
88,530
29,976'
95
18,482'
8,200
20,864
12,848
830
1,267
8,371
9,452'
143,871'
3,270
470,203'
31,124'
0
23,948
927,997
5,174
19,304
499
8,416
97,799
27,219
360
17,381
9,083
19,584
16,052
829
1,197
9,790
8,190
95,813
3,380
532,419
30,793
0
24,714
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Italy
12 Luxembourg2
13
Netherlands
14
Norway
15 Portugal
16
Russia
17
Spain
18
Sweden
19
Switzerland
20
Turkey
21
United Kingdom
22
Channel Islands and Isle of Man3
23
Yugoslavia4
24
Other Europe and other former U.S.S.R.5
25 Canada
52,140
51,088
63,420
54,434
57,998
56,479
57,864
58,292
63,420
53,252
26 Latin America
27
Argentina
28
Brazil
29
Chile
30
Colombia
31
Ecuador
32
Guatemala
33
Mexico
34 Panama
35 Peru
36
Uruguay
37
Venezuela
38
Other Latin America1"
51,517
3,819
15,825
6,094
2,026
404
781
13,583
1,844
1,370
465
2,911
2,395
49,378
2,220
14,094
6,213
2,645
469
866
13,440
1,939
1,529
403
2,844
2,716
51,031'
2,282
15,040
6,639
2,432
581
872
14,599
2,074
1,226
446
2,271'
2,569
51,239
2,090
15,515
6,924
2,670
597
860
13,792
1,931
1,488
412
2,514
2,446
51,203
2,359
15,742
6,716
2,676
544
841
13,625
2,039
1,428
411
2,468
2,354
48,303
2,342
13,660
6,226
2,653
526
731
13,623
1,905
1,331
459
2,502
2,345
49,971
2,338
14,583
6,638
2,685
565
752
14,085
1,751
1,278
512
2,310
2,474
52,244
2,222
16,259
6,775
2,652
637
867
14,432
1,856
1,218
435
2,435
2,456
51,031'
2,282
15,040
6,639
2,432
581
872
14,599
2,074
1,226
446
2,271'
2,569
54,647
2,296
17,937
6,480
2,952
570
965
14,876
2,091
1,159
459
2,296
2,566
39 Caribbean
40
Bahamas
41
Bermuda
42
Cayman Islands7
43
Cuba
44
Jamaica
45
Netherlands Antilles
46
Trinidad and Tobago
47
Other Caribbean8
492,705
73,709
14,889
391,524
0
377
6,629
665
4,912
596,931
80,183
33,294
469,166
0
351
5,554
755
7,628
611,061'
105,686
17,846
473,605'
0
442
4,443
906
8,133'
671,762
96,404
27,093
532,156
0
438
4,752
715
10,204
652,017
94,684
28,866
513,558
0
408
4,936
705
8,860
640,215
97,555
21,606
505,698
0
418
5,006
826
9,106
645,697
84,076
24,396
521,914
0
432
4,846
900
9,133
641,041
94,043
26,626
505,364
0
413
4,410
786
9,399
611,061'
105,686
17,846
473,605'
0
442
4,443
906
8,133'
649,871
124,018
21,201
491,304
0
418
4,484
898
7,548
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 countries5
60
Other
119,562
142,656
187,613'
163,089
165,984
167,183
171,407
184,684
187,613'
179,588
4,134
9,659
7,190
1,588
838
5,122
62,059
11,395
1,693
989
6,782
8,113
9,267
10,589
5,622
2,117
555
1,326
82,207
15,531
993
1,144
7,022
6,283
14,780'
8,626'
8,398'
2,518
435
4,285
103,458
17,226'
1,790
7,796
12,329
5,972'
20,058
8,925
6,116
2,751
559
3,152
83,645
16,780
1,119
6,544
7,869
5,571
16,914
8,605
5,659
2,660
555
4,204
86,604
18,784
1,025
6,720
7,541
6,713
17,420
7,934
6,974
2,738
572
3,186
83,480
16,669
1,085
8,318
11,432
7,375
19,410
8,134
8,352
2,698
578
3,183
86,046
17,194
1,211
8,995
8,968
6,638
19,712
7,196
8,071
2,693
518
4,370
101,185
15,956
1,319
8,066
9,412
6,186
14,780'
8,626'
8,398'
2,518
435
4,285
103,458
17,226'
1,790
7,796
12,329
5,972'
16,262
5,754
7,034
2,524
389
4,172
106,550
16,158
907
6,487
7,808
5,543
61 Africa
62 Egypt
63
Morocco
64
South Africa
65
Congo (formerly Zaire)
66
Oil-exporting countries9
67
Other
1,453
236
46
453
0
147
571
1,262
228
53
318
0
223
430
1,536'
422
31
331
0
312'
440
1,342
384
38
179
0
334
407
1,631
443
31
389
0
361
407
1,400
453
218
0
337
359
1,565
413
20
438
0
332
362
1,482
453
19
193
0
397
420
1,536'
422
31
331
0
312'
440
1,588
448
45
318
0
338
439
68 Other countries
69
Australia
70
New Zealand10
71
Allother
8,897
8,037
819
41
10,386
9,695
609
82
10,524'
9,805'
541
178
8,431
7,779
568
84
7,553
6,825
634
94
8,782
7,841
848
93
9,515
8,875
531
109
9,890
9,085
580
225
10,524'
9,805'
541
178
9,917
8,839
801
277
72 Nonmonetary international and regional organizations"
5,071
5,976
7,250
7,433
6,517
9,671
7,039
5,793
7,250
6,428
1. Reporting banks include all types of depository institutions as well as bank/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border brokerage
balances.
2. Before January 2001, combined data reported for Belgium-Luxembourg.
3. Before January 2001, data included in United Kingdom.
4. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
5. Includes the Bank for International Settlements and the European Central Bank.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and Caribbean."
7. Beginning 2001, Cayman Islands replaced British West Indies in the data series.
8. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
9. Comprises Algeria, Gabon, Libya, and Nigeria.
10. Before January 2001, included in "All other."
11. Excludes the Bank for International Settlements, which is included in "Other Europe."
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 States1
Millions of dollars, end of period
2005
Type of claim
1 Total claims reported by banks
2003
r
2006
2005'
July
Aug.
1 790 725
95,688
1 308 642
386,395
1,862,906
89,307
1 364 765
408,834
Sept.
Oct.
Nov.
1,811,942
95,466
1 298 118
418,358
1,893,705
88,216
1 396 696
408,793
Dec'
Jan.'
2,026,841
2,274,577
1 322 363
57,897
980 099
284,367
1 664 223
77,868
1 187 954
398,401
1 829 837
78,281
1 382 251
369,305
274,602'
129,787'
71,791'
63,225'
9,799
362,618
152,520
107,533
88,423
14,142
444,740
176,858
110,337
137,589
19,956
11 Non-negotiable deposits7
12 Negotiable CDs7
13 Other short-term negotiable
500,085
376
668,255
3,970
740,077
2,804
738,944
4,044
731,828
3,260
722,172
3,971
716,197
4,723
737,950
4,019
740,077
2,804
797,655
3,376
14 Other claims7
5,328
816,574
934 166
3,888
988,110
1 097 873
7,017
1,079,939
1 280 539
9,699
1,038,038
1 199 940
11,278
1,116,540
1 249 724
9,012
1,127,406
1 283 649
11,530
1,079,492
1 199 760
11,637
1,140,099
1 286 411
7,017
1,079,939
1 280 539
8,642
1,073,615
1 307 987
344,753
479,422
471,095
527,403
545,571
527,668
550,242
533,490
471,095
498,543
3
Foreign official institutions2
5
Other foreigners4
6 Claims on banks' domestic customers5
7
Non-negotiable deposits
8
Negotiable CDs
9
Other short-term negotiable instruments6 . .
10
Other claims
l,596,965
2004
2,292,233'
1,862,561
88,613
1 375 163
398,785
2,274,577
429,672'
172,701'
111,032'
128,094'
17,845'
1,829,837
78,281
1 382 251
369,305
1,883,288
77,260
1 415 524
390,504
444,740
176,858
110,337
137,589
19,956
MEMO
16 Loans collateralized by repurchase
1. For banks' claims, data are monthly; for claims of banks' domestic customers, data are
for the quarter ending with the month indicated.
Reporting banks include all types of depository institutions as well as banks/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border balances.
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 • March 2006
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.
Sept.
1 Total
66,679
67,664
83,240
104,940
103,204
108,339
108,152'
107,165'
107,658
By type
2 Financial liabilities
3
Short-term negotiable securities' . .
41,034
n.a.
39,561
53,150
14,002
72,799
10,868
73,818
11,415
79,177
11,759
75,039'
9,027'
70,927'
13,152'
70,121
11,319
67,418
66,012
8,498
22,946
5,949
45,495
3,558
45,766
6,315
49,882
8,163
45,852
10,570
34,151
16,868
32,124
42,171
30,628
1,730
7,998
17,883
1,660
1,357
43,617
30,201
1,981
7,678
17,420
1,642
1,480
45,905
33,272
2,399
9,067
18,337
1,564
1,905
42,608'
32,431'
2,296
11,159
15,532'
1,379
2,065
46,891
24,036'
1,774
16,183
3,250'
1,604
1,225'
45,423
24,698
1,837
16,355
2,802
1,770
1,934
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
Byy area or country
15 Europe
16
Belgium-Luxembourg
17
France
18
Germany
19
Netherlands
20
Switzerland
21
United Kingdom
39,148
n.a.
n.a.
18,763
22,271
n.a.
n.a.
n.a.
n.a.
n.a.
18,844
20,717
25,055
28,095
1,431
10,372
11,425
2,493
2,374
41,034
39,561
43,610
58,084
57,142
62,847
51,809'
44,929'
42,146
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
45,810
539
2,092
3,699
43,134
677
2,290
3,335
340
431
28,166
38,690
775
1,349
2,911
363
514
29,473
35,304'
590
1,550
5,276
413
282
25,017'
30,904'
641
1,093
7,591
129
114
16,703'
28,216
567
1,070
7,827
380
53
15,795
298
28,992
MEMO:
22
Euro area3 . . .
8,798
9,855
955
591
1,239
1,527
2,433
2,283
2,080
2,058
1,504
23
990
65
365
n.a.
31
4,235
0
711
242
n.a.
3,114
34
3
6,093
0
2,300
200
n.a.
3,483
25
0
16,196
0
8,715
208
n.a.
7,178
26
18
9,076
0
801
263
n.a.
7,871
8,101
0
115
306
n.a.
7,583
20
5
6,984
0
77
141
n.a.
6,497
47
30
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
32
33
34
Asia
Japan
Middle Eastern oil-exporting countriesf
5,042
3,269
10
2,932
1,832
14
2,547
1,826
36
4,487
1,612
24
4,589
1,664
30
4,724
1,648
36
4,347
1,365
33
3,697
1,642
4,143
1,792
35
35
36
Africa
Oil-exporting countries6
53
5
131
91
123
92
118
93
119
93
131
94
132
95
108
96
123
96
37
All other7
36
2
2,382
185
4,591
24
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 .
41
42
43
44
45
46
47
48
49
50
51
52
53
54
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 liabilities
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
Sept.
25.645
11,781
13,864
28,103
14,699
13,404
30,090
17,174
12,916
32,141
18,386
13,755
29,386
18,362
11,024
29,162
18,181
10,981
33,113
21,678
11,435
36,238
22,851
13,387
37,537
24,201
13,336
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
29,662
2,479
183
729
593
255
719
26,090
3,296
241
1,030
600
302
1,123
25,811
3,351
224
1,058
704
296
1,069
29,890
3,223
200
1,026
634
314
1,049
33,364
2,874
143
1,028
585
119
999
34,751
2,786
163
1,041
397
286
899
9,219
99
734
905
1,163
790
2,279
8,257
141
765
781
590
433
2,649
9,821
159
900
855
384
1,367
3,025
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
10,087
100
1,600
1,020
322
740
3,576
10,831
103
1,669
965
403
950
3,243
11,533
124
1,818
1,006
329
1,112
3,589
4,414
MEMO
Euro area3
5,141
3,831
3,731
56
Canada
1,622
1,588
2,166
2,533
1,995
2,145
2,143
2,185
2,848
57
58
59
60
61
62
63
64
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,727
52
591
290
45
n.a.
899
166
3,073
51
538
253
36
n.a.
1,170
177
3,406
14
513
233
n.a.
40
1,298
329
4,388
39
801
167
n.a.
32
1,755
481
4,317
35
635
98
n.a.
29
1,925
477
4,276
32
515
113
n.a.
101
1,942
433
4,894
66
511
97
n.a.
29
2,154
640
5,361
79
774
127
n.a.
76
2,210
522
5,228
74
621
143
n.a.
100
1,921
738
65
66
67
Asia
Japan
Middle Eastern oil-exporting countries-
10,517
2,581
2,639
13,382
4,292
3,979
13,311
4,370
3,148
13,484
4,755
2,311
12,707
4,288
3,312
12,239
4,221
2,910
14,470
5,324
3,900
16,371
5,673
4,271
16,623
5,892
3,914
68
Africa
836
436
827
405
782
372
567
956
488
947
424
935
447
1,010
627
851
459
69
70
Oil-exporting countries'"
4,198
All other7
935
MEMO
71
Financial liabilities to foreign affiliates5 . . .
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 • March 2006
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.
102,566
165,901
188,506
192,336
197,696
200,032'
179,919'
184,578
71,389
27,064
44,325
132,332
35,920
3,211
154,096
42,974
5,468
160,552
50,314
7,595
164,981
47,883
9,892
167,204'
52,316
11,912
146,768'
48,975
8,894
152,935
51,353
11,845
n.a.
51,486
157
93,201
129
105,654
70
102,643
103
107,206
94
102,976'
173
88,899'
n.a.
n.a.
69,208
3,253
66,849
19,073
64,968
17,685
59,683
24,034
64,386
12,737
57,548
8,069
56,381
8,499
122,879
9,453
912
2,776
3,242
831
1,692
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
123,380'
43,824
7,216
17,593
7,687
6,111
5,217
109,139'
37,629
10,031
10,935
7,714
4,007
4,942
112,967
39,968
10,837
11,712
8,853
4,058
4,508
67,347
92,499
101,867
110,517
113,673'
99,407'
107,997
28,970
391
3,049
2,859
2,789
617
11,438
46,343
1,206
4,375
3,151
2,974
453
23,575
47,040
292
3,620
2,299
3,149
585
26,641
48,714
2,177
1,452
5,386
7,389
978
23,982
53,001'
2,651
3,177
7,126
7,692
827'
25,105'
40,479'
1,998
4,593
4,534
1,738
1,185'
17,601'
43,500
801
4,338
3,335
3,313
1,249
22,028
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 CDs1
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
Sept.
81,287
29,801
51,486
74,471
6,816
n.a.
n.a.
n.a.
n.a.
n.a.
65,070
6,319
26,118
625
1,450
1,068
2,138
589
16,510
29,018
722
3,247
4,245
3,648
383
10,663
MEMO:
24
25
17,281
Euro area3
Canada
26
27
28
29
30
31
32
33
34
35
36
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5 .
37
38
Africa
Oil-exporting countries'"
39
All other7
6,193
5,013
5,311
4,533
5,825
6,412
11,361
11,905
14,290
41,201
976
918
2,127
32,965
n.a.
3,075
83
29,612
1,038
724
2,286
21,528
n.a.
2,921
104
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
34,256
801
1,410
1,749
n.a.
27,613
1,706
135
42,091
1,346
1,063
1,833
n.a.
35,188
1,527
139
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
39,893
1,899
2,128
1,839
n.a.
31,162
1,727
164
38,945
3,436
1,316
1,486
n.a.
30,448
1,392
62
41,643
3,802
1,113
1,793
n.a.
31,768
1,968
167
6,430
1,604
135
5,358
1,277
79
5,317
1,194
158
5,976
1,011
121
5,633
1,050
138
6,840
993
137
7,680'
981'
133
6,500'
965'
114
6,792
788
93
414
49
395
25
419
12
238
8
306
8
290
16
282
23
347
55
1,993
1,153
1,020
1,296'
1,425
International Statistics
3.23
53
CLAIMS ON FOREIGNERS Reported by Nonbanking Business Enterprises in
the United States—Continued
Millions of dollars, end of period
Type of claim, and area or country
Sept.
40 Commercial claims
41
Trade receivables
42
Advance payments and other claims
43
44
45
46
47
48
49
50
51
52
53
54
55
56
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
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
Sept.
31.795
27,513
4,282
31,177
26,385
4,792
33,569
28,618
4,951
34,410
29,884
4,526
31,784
27,346
4,438
32,715
29,229
3,486
32,828
28,311
4,517
33,151
29,055
4,096
31,643
28,052
3,591
29,393
2,402
26,481
4,696
n.a.
25,494
8,075
1,557
1,542
1,187
589
3,200
27,380
7,030
649
1,196
1,204
598
3,383
27,908
3,876
446
1,026
1,169
191
1,044
27,439
5,276
512
1,561
1,586
238
1,379
28,075
4,753
499
1,530
1,110
239
1,375
28,826
4,325
407
1,442
1,098
153
1,225
27,934
3,709
372
1,227
780
206
1,124
14,022
268
2,921
1,658
529
611
3,833
14,187
269
3,164
1,202
1,490
503
3,727
14,552
247
2,816
1,273
395
1,921
3,928
13,531
235
2,603
1,509
345
1,257
3,904
13,000
298
2,582
1,331
396
1,218
3,815
13,457
257
2,261
1,401
494
1,528
3,742
13,765
366
2,867
1,477
490
1,477
3,491
13,390
402
2,233
1,484
461
1,406
3,287
12,530
396
2,023
1,439
339
1,426
3,326
MEMO
57
58
Canada
59
60
61
62
63
64
65
66
67
68
69
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
70
Africa
71
72
8,580
Euro area3
Oil-exporting countries6
7,185
7,419
2,818
2,790
3,070
2,288
2,260
2,017
2,146
2,142
2,004
4,859
42
369
954
95
n.a.
1,391
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
n.a.
52
1,339
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
6,510
41
591
1,049
n.a.
75
1,859
365
6,310
29
581
952
n.a.
143
1,838
393
6,524
27
498
1,028
n.a.
294
1,812
390
7,849
2,006
850
7,324
2,341
818
7,352
1,757
888
8,165
1,784
1,085
8,601
1,847
961
8,943
1,855
1,071
8,508
1,918
1,148
9,427
1,932
1,317
8,728
1,749
1,271
645
88
584
95
636
138
711
224
783
209
629
154
767
205
873
226
2,806
4,087
1,192
1,132
7
All other
234
1,069
MEMO
73
Financial claims on foreign affiliates5
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 • March 2006
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
2006
Transaction, and area or country
Jan.Jan.
2005
July'
Aug.'
Sept.'
2006
Oct.
Nov.'
Dec'
Jan.'
418,946'
410,976'
380,650
375,862
385,407
375,889
416,583
395,367
U.S. corporate securities
STOCKS
3,862,043
3,833,567
1 Foreign purchases
2 Foreign sales
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
416,583
395,367
329,202
321,399
361,815
360,083
409,958
386,982
21,216
79,912
21,216
1,732
22,976
28,616
79,955
21,208
7,744
1,757
22,967
7,958r
4,800
9,496
21,208
19,571
-876
-2,360
1,697
-1,194
15,208
-180
1,292
631
6,485
-320
2,832
-41
998
39,301
7,282
-3,770
-2,194
1,185
20,282
375
16,449
14,344
1,327
8,301
218
117
116
13,409
5,289
-630
813
909
4,628
-32
726
3,513
1,025
2,196
1,546
32
307
-616
377
-505
-782
1,622
-2,985
116
3,034
6,066
-317
-714
-634
34
257
-2,919
1,086
-1,955
-613
-371
-3,981
33
4,523
-318
2
226
-597
15,357
651
54
950
241
11,822
42
3,768
2,356
5
1,605
127
28
-152
2,280'
-313
-119
71
188
657
82
1,044
3,370
113
1,096'
658
-30
85
4,044
4,577
74
127
903
-2,068
59
1,739
-673
169
-284
12
3
-198
4,121
-1,747
-327
-1,231
85
6,349
8
1,754
1,566
-98
1,557
531
-19
615
13,409
5,289
-630
813
909
4,628
-32
726
3,513
1,025
2,196
1,546
32
307
206,145
153,722
189,997
129,877
205,303
153,957
214,851
150,280
217,823
146,005'
201,386
155,836
203,751
156,986
206,145
153,722
3 Net purchases, or sales (-)
4 Foreign countries
4,463,308
4,383,396
4,788
BONDS 3
20 Foreign purchases
21 Foreign sales
1,844,895
52,423
51,346
64,571
594,081
52,056
60,242
51,028
63,765
71,759'
45,408
45,990
52,056
256,263
7,369
12,124
1,929
6,972
160,243
6,477
12,095
105,994
4,702
151,858
77,905
512
1,998
301,070
15,008
12,493
3,946
3,414
208,328
13,498
15,025
80,306
2,819
188,418
85,154
300
6,143
21,113
-1,705
2,044
7
348
11,946
1,098
257
10,263
687
19,759
7,079
-91
68
21,444
744
162
433
-365
15,659
-37
1,252
11,967
314
24,088
10,184
47
1,130
29,344
857
865
203
-646
24,765
1,010
213
6,371
176
14,272
5,261
60
592
36,812
3,751
1,388
793
1,104
25,771
1,681
1,387
7,686
977
16,394
10,169
220
289
33,298'
255
2,173
205
864'
18,465'
2,244
2,628'
9,523'
-576'
26,232'
15,269
25
629
28,487
2,113
1,183
165
842
20,082
1,366
2,075
-3,515
-454
18,633
11,681
-23
205
24,599
1,384
784
33
135
19,394
352
1,015
2,859
157
16,798
5,902
-27
589
21,113
-1,705
2,044
7
348
11,946
1,098
257
10,263
687
19,759
7,079
-91
68
2,479
3,124
2 3 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 Mar
Canada
Latin America and Caribbean .
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
52,423
597,205
533,422
22 N e t p u r c h a s e s , or sales ( - ) . . .
45,550
Foreign securities
39 Stocks, net purchases, or sales (-) .
40
Foreign purchases
41
Foreign sales
42 Bonds, net purchases, or sales (-) .
43
Foreign purchases
44
Foreign sales
-84,970
1,664,076
1,749,046
-67,872
1,459,043
1,526,915
-126,929
2,186,986
2,313,915
-30,317
1,515,076
1,545,393
-12,751
239,487
252,238
729
137,554
136,825
-8,755
162,039
170,794
-7,157
111,959
119,116
-16,378
182,782
199,160
16,862
129,874
113,012
-6,566
191,205
197,771
-11,080
128,208
139,288
-5,983'
227,055
233,038'
2,788
147,259
144,471
-17,237
229,787
247,024
884
107,627
106,743
-16,725
222,339
239,064
-4,047
116,522
120,569
-12,751
239,487
252,238
729
137,554
136,825
45 Net purchases, or sales (-), of stocks and bonds . .
-152,842
-157,246
-12,022
-15,912
484
-17,646
-3,195 r
-16,353
-20,772
-12,022
46 Foreign countries
-141,025
-149,906
-12,414
-15,909
534
-17,561
-3,276 r
-16,056
-20,851
-12,414
47
48
49
50
51
52
53
Europe
Canada
Latin America and Caribbean
Asia
Japan
Africa
Other countries
-124,892
-5,492
9,184
-12,814
-20,640
1,591
-8,602
-62,548
-3,627
-21,596
-46,746
-34,739
-1,896
-13,493
-600
-3,325
14
-7,715
-3,192
-275
-513
-5,427
1,375
-4,997
-6,147
-4,301
-328
-385
10,761
287
-1,740
-8,696
-5,254
-138
60
-2,989
-2,652
-4,716
-5,701
-5,794
23
-1,526
4,272'
-683
-5,052
-1,530
-3,938
-41
-242
-1,762
-1,604
-286
-11,172
-8,677
-837
-395
-11,177
-809
166
-6,680
-4,107
50
-2,401
-600
-3,325
14
-7,715
-3,192
-275
-513
54 Nonmonetary international and
regional organizations
-11,817
-7,340
1. Before January 2001, data included in United Kingdom.
2. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
3. Includes state and local government securities and securities of U.S. government
agencies and corporations. Also includes issues of new debt securities sold abroad by U.S.
corporations organized to finance direct investments abroad.
Securities Holdings and Transactions
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
55
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.Jan.
July
Sept.'
1 Total estimated
352,079
347,984
4,409
28,308'
27,373
20,588
29,859
54,549'
18,280
2 Foreign countries
351,360
345,017
4,072
28,360'
27,205
20,699
29,427
54,478'
17,986
4,072
88,431
118
8,804
-575
-3,153
3,236
5,342
78,661
1,175
-5,177
16,098
173,734
500
14,574
1,636
-6,390
1,908
-4,073
134,207
699
30,673
21,407
10,936
448
-1,607
-247
-130
1,169
-242
9719
359
1,467
1,837
15,584
84
1,122
-256
872
-443
-2,164
14,587
181
1,601
2,316
14,702
186
-31
584
-486
310
744
13,259
382
-246
1,687
6,921
77
108
582
-478
246
-226
9,059
60
-2,507
23
13,367
-53
1,147
-146
340
-176'
-17'
5,227
212
6,833
3,240
38,182
405
938
4
-1,853
481
-957
34,024
356
4,784
2,566
10,797
482
1,712
194
-1,075
-869
-379
10,728
-171
175
-114
10,936
448
-1,607
-247
-130
1,169
-242
9,719
359
1,467
1,837
33,544
-15
21,963
11,596
214,788
166,377
677
80,795
520
79,441
834
67,426
-4,183
2,158
-503
-11,411
-119
-11,649
357
4,059
-13,027
102
-1,451
71'
76
1,623'
-1,628
9,515
237
162
712
5,673
81
4,985
607
4,585
1,551
523
35
4,344
35
4,020
289
9,613
3,081
143
-345
9,129
95
9,135
-101
2,054
-6,352
804
833
7,557
107
7,370
80
5,715'
422
373
85
-1,466
142
-2,617
1,009
8,606
2,260
106
57
-11,411
-119
-11,649
357
4,059
-13,027
102
-1,451
2,967
2,570
337
294
0
168
72
0
-129
40
432
433
10
71
80
-3
294
280
337
294
0
351,360
201,140
150,220
345,017
59,523
285,494
4,072
8,401
-4,329
28,360'
3,616
24,744'
27,205
2,788
24,417
20,699
-2,124
22,823
29,427
4,896
24,531
54,478'
3,731
50,747'
17,986
5,610
12,376
4,072
8,401
-4,329
9,041
249
1,765
2,027
2,150
253
496
99
127
589
-268
180
1,241
994
743
438
1,548
23
2,150
253
3
4
5
6
7
8
9
10
11
12
13
Europe
Belgium2
Germany
Luxembourg2
Netherlands
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man3
Other Europe and former U.S.S.R
Canada
14
15
16
17
18
19
20
21
Latin America and Caribbean
Venezuela
Other Latin America and Caribbean
Netherlands Antilles
Asia
Japan
Africa
Other
22 Nonmonetary international and regional organizations
23
International
24 Latin American Caribbean regional
-2,178
719
-26
-52
-13
-35
4,409
MEMO
25 Foreign countries
26
Official institutions
27
Other foreign
Oil-exporting countries
28 Middle East4
29 Africas
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 • March 2006
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
Item
2003
2004
2006
2005
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
75.35
2.2536
1.1774
8.0895
6.2064
1.2022
7.7559
44.76
114.87
3.7735
10.835
69.83
6.5103
1.6915
6.5878
1,045.88
101.485
7.8433
1.2880
33.468
40.895
176.51
2,144.60
73.53
2.2109
1.1815
8.0840
6.3277
1.1789
7.7538
45.63
118.45
3.7782
10.672
68.97
6.6399
1.6981
6.6554
1,040.76
101.800
8.1157
1.3110
33.580
41.097
173.49
2,144.66
74.23
2.2809
1.1615
8.0755
6.2844
1.1861
7.7531
45.56
118.46
3.7780
10.627
69.47
6.7242
1.6738
6.3480
1,022.38
101.977
7.9518
1.3053
33.286
41.076
174.58
2,144.62
75.05
2.2666
1.1572
8.0654
6.1530
1.2126
7.7537
44.20
115.48
3.7530
10.542
68.72
6.6287
1.6310
6.0760
981.44
102.016
7.6697
1.2773
32.035
39.519
176.86
2,144.64
Exchange rates
COUNTRY/CURRENCY UNIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Australia/dollar2
Brazil/real
Canada/dollar
China, P.R./yuan
Denmark/krone
European Monetary Union/euro3
Hong Kong/dollar
India/rupee
Japan/yen
Malaysia/ringgit
Mexico/peso
New Zealand/dollar2
Norway/krone
Singapore/dollar
South Africa/rand
South Korea/won
Sri Lanka/rupee
Sweden/krona
Switzerland/franc
Taiwan/dollar
Thailand/baht
United Kingdom/pound2
Venezuela/bolivar
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
76.27
2.4352
1.2115
8.1936
5.9953
1.2449
7.7775
44.00
110.11
3.7869
10.894
70.49
6.4412
1.6639
6.3606
1,023.75
100.383
7.4710
1.2459
32.131
40.252
182.04
2,107.13
76.14
2.3609
1.2043
8.1017
6.0665
1.2295
7.7709
43.55
110.61
3.7589
10.686
69.56
6.4367
1.6623
6.4599
1,021.68
100.738
7.5951
1.2629
32.076
41.132
179.44
2,144.60
76.51
2.2949
1.1777
8.0919
6.0973
1.2234
7.7618
43.85
111.24
3.7689
10.786
69.87
6.3830
1.6820
6.3661
1,029.84
101.332
7.6300
1.2671
32.925
41.041
180.64
2,144.60
Indexes4
NOMINAL
24 Broad (January 1997=100)s
25 Major currencies (March 1973=100)°
26 Other important trading partners (January
1997=100)7
119.09
93.00
113.59
85.37
110.81
83.78
110.69
84.20
110.62
83.82
111.70
85.12
112.51
86.58
111.79
85.83
110.18
84.44
143.54
143.39
138.90
137.80
138.31
138.78
138.26
137.72
136.02
104.48'
97.56'
99.84'
90.61'
98.29'
90.50'
98.62'
91.21'
99.28'
91.46'
100.14'
93.07'
99.99'
94.08'
98.88'
92.78'
97.98
91.97
123.23
121.86
118.06'
117.81'
119.13'
118.98'
117.16'
116.23'
115.12
REAL
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
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
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, Table Number, and Reporting Date for Data
Issue
Page
Reference
Assets and liabilities of commercial banks, 4.20
December 31,2004
March 31,2005
June 30, 2005
September 30, 2005
December 31,2005
March
June
September
December
March
2005
2005
2005
2005
2006
58
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks, 4.23
February 2005
May 2005
August 2005
November 2005
May
August
November
February
2005
2005
2005
2006
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
December 31,2004
March 31,2005
June 30, 2005
September 30,2005
May
August
November
February
2005
2005
2005
2006
64
64
64
64
Supplement
Supplement
Supplement
Supplement
August 2001
October 2001
January 2002
A76
A64
A64
Bulletin
Bulletin
Bulletin
September 2002
September 2003
September 2004
A58
A58
58
Bulletin
Bulletin
Supplement
September 2002
September 2003
September 2004
A67
A67
67
Bulletin
Bulletin
Supplement
September
September
September
September
2002
2003
2004
2005
A70
A70
70
60
Bulletin
Bulletin
Supplement
Supplement
September
September
September
September
2002
2003
2004
2005
A73
A73
73
63
Bulletin
Bulletin
Supplement
Supplement
Pro forma financial statements for Federal Reserve priced services, 4.31*
March 31,2001
June 30, 2001
September 30, 2001
Residential lending reported under the Home Mortgage Disclosure Act,
1989-2001
1990-2002
1991-2003
Disposition of applications for private mortgage insurance,
1998-2001
1999-2002
2000-2003
Small loans to businesses and farms,
1996-2001
1996-2002
1997-2003
1998-2004
4.34-4.411
4.42-4.45
4.46-4.48
Community development lending reported under the Community Reinvestment Act, 4.49
2001
2002
2003
2004
*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 • March 2006
4.20
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities
Consolidated Report of Condition, December 31, 2005
Millions of dollars except as noted
Domestic
total
1 Total assets
2 Cash and balances due from depository institutions
3
Cash items in process of collection, unposted debits, and currency and coin
4
Cash items in process of collection and unposted debits
5
Currency and coin
6
Balances due from depository institutions in the United States
7
Balances due from banks in foreign countries and foreign central banks
8
Balances due from Federal Reserve Banks
9 Total securities, held-to-maturity (amortized cost) and available-for-sale (fair value)
10
U.S. Treasury securities
11
U.S. government agency and corporation obligations (excludes mortgage-backed
securities)
12
Issued by U.S. government agencies
13
Issued by U.S. government-sponsored agencies
14
Securities issued by states and political subdivisions in the United States
15
Mortgage-backed securities (MBS)
16
Pass-through securities
17
Guaranteed by GNMA
18
Issued by FNMA and FHLMC
19
Other pass-through securities
20
Other mortgage-backed securities (includes CMOs, REMICs, and stripped MBS)
21
Issued or guaranteed by FNMA, FHLMC or GNMA
22
Collateralized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA
23
All other mortgage-backed securities
24 Asset-backed securities
25
Credit card receivables
26
Home equity lines
27
Automobile loans
28
Other consumer loans
29
Commercial and industrial loans
30
Other
31
Other debt securities
32
Other domestic debt securities
33
Foreign debt securities
34
Investments in mutual funds and other equity securities with readily determinable
fair value
Banks with foreign offices'
Banks with
domestic
offices only2
8,889,957
7,884,429
6,225,098
5,219,571
2,664,858
396,412
285,082
n. a.
n. a.
n. a.
n. a.
n. a.
n. a.
303,059
154,083
n.a.
n.a.
191,729
150,385
117,711
32,673
23,874
6,146
11,325
93,353
30,522
107,070
11,384
1,526,760
49,777
n. a.
n. a.
998,462
35,047
528,299
14,730
254,577
11,123
243,454
122,077
881,794
584,705
27,839
538,235
18,631
297,090
149,425
9,729
137,936
63,608
15,092
16,741
10,225
6,095
2,926
12,529
141,485
49,941
91,544
n. a.
n. a.
n. a.
85,959
168,618
3,805
7,317
78,642
47,978
646,506
461,987
15,063
430,793
16,131
184,519
82,021
5,462
97,036
55,903
12,978
15,529
9,229
5,956
2,500
9,712
118,108
33,850
84,258
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
8,961
13,442
164,813
74,099
235,288
122,718
12,777
107,442
2,500
112,570
67,404
4,267
40,900
7,705
2,113
1,212
996
139
426
2,818
23,377
16,092
7,285
4,481
440,655
137,814
302,841
292,587
137,814
154,773
360,301
78,370
281,932
212,233
78,370
133,863
80,354
59,445
20,910
38 Total loans and leases (gross) and lease-financing receivables (net)
39
LESS: Unearned income on loans
40
LESS: Loans and leases held for sale
41 Total loans and leases (net of unearned income)
42
LESS: Allowance for loan and lease losses
43 Loans and leases, net of unearned income and allowance
5,296,346
2,950
200,143
5,093,253
66,254
5,026,999
4,956,348
1,858
3,492,643
3,152,645
666
n.a.
n.a.
n.a.
n.a.
1,803,703
1,192
36,720
1,765,791
25,225
1,740,566
Total loans and leases, gross, by category
44 Loans secured by real estate
45
Construction and land development
46
Farmland
47
One- to four-family residential properties
48
Revolving, open-end loans, extended under lines of credit
2,954,170
n.a.
n.a.
n.a.
n.a.
2,902,343
386,729
47,583
1,704,272
175,516
1,198,071
211,213
7,868
1,645,080
431,119
1,164,236
332,286
39 714
480,844
98,833
n.a.
n.a.
n.a.
n.a.
158,523
n.a.
n.a.
n.a.
51,172
1,011,863
n.a.
n.a.
1,095,948
751,336
80,614
134,074
11,641
799,052
323,533
40,462
435,057
714,050
289,610
28,471
395,969
563,003
478,001
177,615
24,304
276,082
236,049
31,523
155,386
3,271
152,114
n.a.
n.a.
134,657
31,514
118,073
21,446
137,221
536
3,238
133,982
21,437
99,908
503
99,405
18,044
81,361
107,864
10,077
18,165
33
18,132
35 Federal funds sold and securities purchased under agreements to resell
36
Federal funds sold in domestic offices
37
Securities purchased under agreements to resell
66
67
68
69
70
71
Closed-end loans secured by one- to four-family residential properties
Secured by first liens
Secured by junior liens
Multifamily (five or more) residential properties
Nonfarm n on residential properties
Loans to depository institutions and acceptances of other banks
Commercial banks in the United States
Other depository institutions in the United States
Banks in foreign countries
Loans to finance agricultural production and other loans to farmers
Commercial and industrial loans
U.S. addressees (domicile)
Non-U.S. addressees (domicile)
Loans to individuals for household, family, and other personal expenditures (includes
purchased paper)
Credit cards
Other revolving credit plans
Other consumer loans (including single-payment, installment, and all student loans)
Obligations (other than securities) of states and political subdivisions in the United States
(includes nonrated industrial development obligations)
All other loans
Loans to foreign governments and official institutions
Other loans
Loans for purchasing and carrying securities
All other loans (excludes consumer loans)
Lease-financing receivables
72
73
74
75
76
77
78
79
80
81
Trading assets
Premises and fixed assets (including capitalized leases)
Other real estate owned
Investments in un con soli dated subsidiaries and associated companies
Customers' liability on acceptances outstanding
Net due from own foreign offices, Edge Act and agreement subsidiaries, and IBFs
Intangible assets
Goodwill
Other intangible assets
All other assets
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
498,536
90,758
3,953
11,682
5,179
n.a.
296,109
218,642
77,467
392,769
1,757
163,423
3,327,462
41,029
3,286,434
1,756,099
118,014
97,797
725,153
140,401
49,956
878,928
68,507
48,359
308,292
137,090
67,737
60,014
60,014
26,691
9,340
12,697
591,375
579,735
155,212
13,914
724,310
590,236
117,537
211,539
36,295
315,170
121,437
482,314
51,454
1,674
11,097
5,013
n.a.
249,215
182,789
66,426
312,652
n.a.
n.a.
n.a.
n.a.
n.a.
44,365
n.a.
n.a.
n.a.
n.a.
344,611
37,400
49,438
416,861
3,311
37,258
287,553
111,995
4,167
119,887
13,220
16,222
39,305
2,278
585
166
n.a.
46,894
35,853
11,041
80,117
Special Tables
4.20
59
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities—Continued
Consolidated Report of Condition, December 31, 2005
Millions of dollars except as noted
Domestic
total
Banks with foreign offices'
Banks with
domestic
offices only2
82 Total liabilities, minority interest, and equity capital
8,889,957
83 Total liabilities
7,984,597
6,980,135
5,601,792
4,597,329
2,382,806
84 Total deposits
85
Individuals, partnerships, and corporations (include all certified and official checks) . . . .
86
U.S. government
87
States and political subdivisions in the United States
88
Commercial banks and other depository institutions in the United States
89
Banks in foreign countries
90
Foreign governments and official institutions (including
foreign central banks)
6,015,212
5,483,597
5,095,146
4,752,178
3,307
257,742
57,549
21,866
4.039.603
3,667,688
n.a.
n.a.
67.653
125,194
3,119,538
2,936,269
2,206
123,231
33,723
21,647
1.975.609
1,815,909
1,101
134,511
23,826
219
91
92
93
94
95
96
97
Total transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks) . . . .
98
Total demand deposits
99
100
101
102
103
104
105
Total n on transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks)
91,479
125,413
6,225,098
2,504
53,229
2,462
42
387,933
320,594
1,289
35,501
23,864
6,240
445
348,182
304,635
580
36,889
5,994
69
15
n.a.
n.a.
n.a.
n.a.
736,115
625,228
1,868
72,391
29,859
6,308
460
535,052
314,556
220,495
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4,359,031
4,126,950
1,439
185,352
27,690
15,557
2,044
2,731,605
2,615,675
918
87,729
9,858
15,407
2,017
1,627,427
1,511,275
521
97,622
17,832
150
27
n.a.
n.a.
n.a.
106 Federal funds purchased and securities sold under agreements to repurchase
107
Federal funds purchased in domestic offices
108
Securities sold under agreements to repurchase
109 Trading liabilities
110 Other borrowed money (includes mortgage indebtedness and obligations under capitalized
leases)
111 Banks' liability on acceptances executed and outstanding
112 Subordinated notes and debentures to deposits
113 Net due to own foreign offices, Edge Act and agreement subsidiaries, and IBFs
114 All other liabilities
115 Minority interest in consolidated subsidiaries
634,600
187,890
446,710
251,513
551,949
187,890
364,060
521.236
136,874
384,362
250,641
438,585
136,874
301,712
n.a.
113,364
51,016
62,348
872
724,176
5,301
121,737
n.a.
232,060
13,851
646,696
3,332
471,875
5,135
113,970
n.a.
199.331
12,401
394.395
3,166
n.a.
301,735
n.a.
n.a.
252,300
166
7,766
n.a.
32,729
1,450
116 Total equity capital
891,508
610,906
n.a.
280,602
MEMO
117 Trading assets at large banks2
118
U.S. Treasury securities (domestic offices)
119
U.S. government agency obligations (excluding MBS)
120
Securities issued by states and political subdivisions in the United States
121
Mortgage-backed securities
122
Other debt securities
123
Other trading assets
124 Trading assets in foreign offices
125
Revaluation gains on interest rate, foreign exchange rate, and other
commodity and equity contracts
126 Total individual retirement (IRA) and Keogh plan accounts
127 Total brokered deposits
128 Fully insured brokered deposits
129
Issued in denominations of less than $100,000
130
Issued in denominations of $100,000, or in denominations greater than $100,000 and
participated out by the broker in shares of $100,000 or less
131 Money market deposit accounts (MMDAs)
132 Other savings deposits (excluding MMDAs)
133 Total time deposits of less than $100,000
134 Total time deposits of $100,000 or more
135 Number of banks
NOTE. The notation "n.a." indicates the lesser detail available from banks that do not have
foreign offices, the inapplicability of certain items to banks that have only domestic offices, or
the absence of detail on a fully consolidated basis for banks that have foreign offices.
1. All transactions between domestic and foreign offices of a bank are reported in "net due
from" and "net due to" lines. All other lines represent transactions with parties other than the
domestic and foreign offices of each bank. Because these intra-office transactions are nullified
by consolidation, total assets and total liabilities for the entire bank may not equal the sum of
assets and liabilities, respectively, of the domestic and foreign offices.
497.795
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
199,036
238.370
16,882
7.097
5,429
10,810
61,226
53,039
0
482,199
222,775
16,676
6,523
5,227
8,061
49,632
52,826
0
15,596
206
574
202
2,749
11,594
214
0
144.275
n.a.
n.a.
n.a.
n.a.
83,887
170,527
368,132
195,027
83,087
144,219
83,831
76,723
214,725
86,418
53,469
56
93,804
153,407
108,609
29,617
32,948
1,432,242
462,267
335,438
501,657
78,992
581,755
268,990
415,913
360,769
n.a.
n.a.
n.a.
n.a.
n.a.
111,940
2,013,997
731,257
751,351
862.426
7,504
Foreign offices include branches in foreign countries, Puerto Rico, and U.S.-affiliated
insular areas; subsidiaries in foreign countries; all offices of Edge Act and agreement
corporations wherever located; and international banking facility (IBF).
2. Components of "Trading Assets at Large Banks" are reported only by banks that
reported trading assets of $2 million or more any quarter of the preceding calendar year.
60
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21, 58-59
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21 (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, 58-59
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21, 58-59
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21, 58-59
Commercial and industrial loans, 15-21, 58-59
Consumer loans held, by type and terms, 34
Real estate mortgages held, by holder and property, 33
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, 58-59
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)
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, 35-39
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
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22
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
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Commercial banks, 15-21, 58-59
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Insured or guaranteed by United States, 32, 33
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
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, '
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22
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, 35-39
Savings deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-39
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, 58-59
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)
61
@FedFRASER