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Volume 3 • Number 11 D November 2006
Statistical Supplement
A to the Federal Reserve
S" BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Rosanna Pianalto Cameron, Chair • Scott G. Alvarez • Sandra Braunstein • Roger T. Cole
• Marianne M. Emerson • Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus
• Vincent R. Reinhart • Louise L. Roseman • 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 (1914-2003).
The Statistical Supplement began publication in
2004. It 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. The Supplement is
also available on the Board's website, at
www.federalreserve.gov/pubs/supplement.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886, or send an e-mail
to publications-bog@frb.gov.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of November 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 • November 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
Interest and Exchange Rates
56 Foreign exchange rates
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Terms of lending at commercial banks,
August 7-11,2006
64 Assets and liabilities of U.S. branches and
agencies of foreign banks, June 30, 2006
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
68 INDEX TO STATISTICAL
TABLES
70 FEDERAL RESERVE BOARD
PUBLICATIONS
72 ANTICIPATED SCHEDULE OF RELEASE DATES FOR
PERIODIC STATISTICAL RELEASES
74 PUBLICATIONS OF INTEREST
75 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
GDP
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
Gross domestic product
GNMA
GSE
HUD
IBF
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
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International banking facility
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 • November 2006
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q3
Q4
Q1
Q2
Apr.
May
-2.1
-3.4
-3.8
3.7
-4.2
-5.0
-2.6
4.2
-12.7
-10.3
-12.0
6.1
9.5
7.5
8.5
4.4
24.9
16.6
11.6
12.9
13.7
6.7
9.9
10.7
7.8
-1.4
-32.0
-26.9
-34.8
-2.8
-38.0
-39.2
-38.7
.6
1.0
4.6
7.8
-.1
5.0
9.3
6.3
n.a.
.9
3.0
n.a.
1.8
3.2
5.5
1.0
-19.6
5.2
2.7'
3.7
-2.8
4.2
n.a.
5.5
14.9
6.4
17.7
7.4
n.a.
3.5
n.a.
4.0
n.a.
5.9
n.a.
4.9
20.3
12.3
7.0
6.8
21.4
5.6
16.0
n.a.
-.1
16.2
n.a.
6.3'
14.3
-10.6
13.0
-3.8'
21.8
n.a.
-5.9
21.6
n.a.
21.0
33.1
-3.6
30.5
36.0
2.4
16.8
n.a.
-7.3
18.9
n.a.
-22.0
18.6
6.0
18.0
-8.8
27.1'
n.a.
6.4
32.5
n.a.
Money market mutual funds
16 Retail10
17 Institution-only
-.8
11.7
5.0
12.1
7.9
9.1
11.7
11.5
6.2
14.6
12.1
15.6
19.7
10.9
20.6
24.5
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
22.5
11.5
22.3
7.9
n.a.
n.a.
n.a.
n.a.
1
2
3
4
Reserves of depository institutions2
Total
Required
Nonborrowed
Monetary base3
Concepts of money*
5 M1
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
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
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.
n.a.
n.a.
n.a.
n.a.
Aug.
6.6
15.9
32.4
15.6
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
July
July 19
July 26
Aug. 2
Aug. 9
Aug. 16
Aug. 23
Aug. 31
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 . .
826,822
765,491
765,491
275,370
463,812
22,646
3,664
0
21,225
257
15
0
242
-71
39,920
11,041
2,200
37,985
830,486
765,626
765,626
276,115
461,869
23,791
3,851
0
23,790
326
14
0
312
-276
41,021
11,041
2,200
38,008
827,848
765,023
765,023
277,019
458,006
26,019
3,980
0
22,774
389
47
0
343
-440
40,101
11,041
2,200
38,025
830,709
765,788
765,788
275,841
462,214
23,876
3,857
0
24,286
328
16
0
313
-626
40,933
11,041
2,200
38,008
825,898
764,752
764,752
277,019
459,061
24,783
3,889
0
20,536
350
15
0
334
-811
41,072
11,041
2,200
38,017
832,995
764,793
764,793
277,019
458,531
25,313
3,930
0
26,607
486
141
0
345
-432
41,541
11,041
2,200
38,026
825,185
764,824
764,824
277,019
457,826
26,019
3,961
0
18,929
341
9
0
331
-717
41,809
11,041
2,200
38,026
829,235
764,837
764,837
277,019
457,826
26,019
3,974
0
23,429
347
8
0
339
-357
40,980
11,041
2,200
38,025
825,031
764,850
764,850
277,019
457,826
26,019
3,987
0
21,536
348
7
0
341
-270
38,567
11,041
2,200
38,025
828,876
765,398
765,398
277,019
458,360
26,019
4,001
0
24,393
412
52
0
361
-222
38,896
11,041
2,200
38,025
794,456
25,789
25,789
0
198
795,271
29,153
29,153
0
162
793,952
27,820
27,820
0
161
794,573
29,439
29,439
0
162
792,679
29,161
29,161
0
158
792,753
29,645
29,645
0
149
794,030
28,444
28,444
0
157
794,418
28,893
28,893
0
160
793,264
27,503
27,503
0
159
793,538
25,768
25,768
0
170
12,726
5,052
90
7,333
7,333
0
252
34,967
9,913
12,528
5,013
98
7,135
7,135
0
282
35,072
9,549
12,416
4,885
90
7,078
7,077
1
364
35,549
9,217
12,513
4,915
90
7,216
7,216
0
292
34,808
10,462
12,451
5,017
103
7,028
7,028
0
303
34,977
7,730
12,166
4,720
90
7,028
7,028
0
328
35,483
14,065
12,225
4,643
90
7,206
7,203
3
286
35,599
5,997
12,321
4,747
89
7,201
7,201
0
285
35,381
9,330
12,707
4,997
89
6,980
6,980
0
640
35,597
7,067
12,429
5,095
90
6,980
6,980
0
263
35,642
12,596
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
Wednesday figures
End-of-month figures
Aug. 2
Aug. 9
Aug. 16
Aug. 23
Aug. 30
826,234
764,763
764,763
277,019
459,061
24,783
3,900
0
21,000
371
25
0
346
-1,095
41,195
11,041
2,200
38,017
834,486
764,815
764,815
277,019
457,826
26,019
3,952
0
27,750
1,251
914
0
337
-819
41,489
11,041
2,200
38,026
825,178
764,828
764,828
277,019
457,826
26,019
3,966
0
17,500
360
25
0
336
521
41,968
11,041
2,200
38,026
828,143
764,842
764,842
277,019
457,826
26,019
3,979
0
25,250
361
19
0
342
-790
38,480
11,041
2,200
38,025
823,341
764,855
764,855
277,019
457,826
26,019
3,992
0
19,750
367
10
0
357
-316
38,685
11,041
2,200
38,025
836,420
766,738
766,738
277,019
459,695
26,019
4,006
0
30,250
693
331
0
361
-398
39,138
11,041
2,200
38,025
794,557
29,587
29,587
0
160
793,762
28,468
28,468
0
148
794,532
28,798
28,798
0
157
795,828
27,860
27,860
0
160
795,431
27,509
27,509
0
157
793,852
26,553
26,553
0
170
797,084
26,084
26,084
0
171
12,870
5,272
88
7,216
7,216
0
294
34,368
14,136
12,275
4,824
140
7,028
7,028
0
283
34,751
8,088
12,975
5,471
91
7,028
7,028
0
386
35,111
14,180
10,469
2,907
88
7,206
7,203
3
268
35,042
7,086
12,009
4,443
88
7,201
7,201
0
277
35,151
9,152
12,332
4,943
90
6,980
6,980
0
318
35,210
6,491
12,243
4,919
89
6,980
6,980
0
255
35,422
16,682
July
Aug.
July 19
837,243
766,364
766,364
275,370
464,580
22,646
3,768
0
31,250
291
11
0
280
-1,037
40,375
11,041
2,200
37,990
836,815
764,811
764,811
277,019
457,826
26,019
3,948
0
30,250
361
16
0
345
44
41,348
11,041
2,200
38,026
832,072
766,739
766,739
277,019
459,695
26,019
4,008
0
30,250
349
0
0
349
-3,783
38,517
11,041
2,200
38,025
834,431
764,731
764,731
277,019
459,061
24,783
3,869
0
29,000
343
23
0
321
-327
40,683
11,041
2,200
38,008
797,157
29,164
29,164
0
174
792,624
29,933
29,933
0
148
797,545
28,263
28,263
0
171
13,055
5,525
142
7,162
7,162
0
226
34,886
14,038
11,981
4,546
88
7,028
7,028
0
320
35,688
17,708
12,046
4,907
89
6,791
6,791
0
259
35,677
9,638
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 . .
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 • November 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
10
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
2006
2003
2004
2005
Dec.
Dec.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
10.863
44,063
32,086
11,976
42,949
41,906
1,043
12.046
47,264
34,801
12,462
46,848
44,938
1,909
10.047
51,318
35,359
15,959
45,406
43,497
1,909
9.415
53,311
35,246
18,065
44,661
43,110
1,550
9.133
49,627
33,622
16,005
42,755
41,251
1,504
10.287
48,389
34,450
13,939
44,737
42,911
1,826
10,649
48,301
34,796
13,505
45,445
43,648
1,797
9,920
48,992
35,147
13,845
45,067
43,282
1,785
9,631
49,621
35,232
14,389
44,862
43,311
1,551
8.877
50,245
33,720
16,525
42,597
41,050
1,547
46
17
0
29
63
11
0
52
169
97
0
72
53
21
2
30
169
119
0
50
248
164
0
84
175
24
0
151
253
16
0
237
350
39
0
312
369
26
0
343
B weekly averages of daily figures for two-week periods ending on dates indicated
2006
1
2
3
4
5
6
7
8
9
10
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
May 10
May 24
June 7
June 21
July 5
July 19
Aug. 2
Aug. 16
Aug. 30
Sept. 13
10,880
47,790
34,841
12,949
45,721
43,542
2,179
10,616
48,896
35,181
13,715
45,796
44,373
1,423
10,385
47,843
33,964
13,879
44,349
42,349
2,000
9,630
48,549
34,826
13,723
44,456
42,823
1,632
10,010
50,577
36,567
14,010
46,577
44,722
1,855
8,416
49,192
32,943
16,249
41,359
39,886
1,473
10,890
49,724
37,345
12,379
48,235
46,720
1,515
7,672
51,244
31,537
19,708
39,208
37,619
1,589
9,836
49,427
35,580
13,848
45,415
43,944
1,471
8,304
48,750
31,005
17,746
39,308
37,248
2,060
156
33
0
124
171
21
0
151
209
19
0
191
250
15
0
235
292
16
0
277
314
14
0
301
418
78
0
340
344
9
0
335
380
30
0
351
465
124
0
341
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
11/17/06
Effective date
Previous rate
On
11/17/06
Effective date
Previous rate
On
11/17/06
Effective date
Previous rate
6.25
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.00
6.75
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.50
5.30
8/17/06
5.35
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
i
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
i
6.25
'
6.00
6.75
1
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
i
1
1
6.50
5.30
8/17/06
5.35
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.
5.50-5.75
5.75
5.75-6.00
6.00
6.00-6.25
6.25
5.75
5.75
6.00
6.00
6.25
6.25
6.25
6.25
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
2006—Mar. 28
30
May 10
11
June 29
July 6
In effect November 17, 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 • November 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
Apr.
May
July
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 . . .
18,150
0
738.886
738,886
0
821,685
821,685
8,300
0
871,661
871,661
0
68,077
68,077
79,509
79,509
64,886
64,886
75,196
75,196
0
0
95,728
95,728
0
1,649
0
70,972
70,972
0
6,565
0
96,433
-103,153
0
7,994
0
103,380
-118,373
2,894
0
109,557
-108,098
2,795
0
13,599
-13,594
1,321
1,200
0
11,858
-10,989
0
8,000
-8,334
0
0
-834
1,375
0
24,441
-15,746
1,217
0
0
6,667
-7,997
0
0
0
6,614
-10,078
3,931
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
11,309
0
-91,121
97,723
2,809
0
-13,599
11,830
2,498
0
-4,775
9,306
2,136
0
-4,500
8,334
1,096
0
2,317
0
-21,298
13,452
2,650
0
-3,167
7,997
549
0
-3,784
7,254
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
3,626
0
-7,041
7,375
1,505
0
0
0
25
0
-5,205
841
174
0
-3,500
0
101
0
949
2,294
1,080
0
-3,500
0
0
0
-2,830
1,588
220
0
-8,938
0
1,364
0
-10,524
2,007
0
-11,395
3,000
205
0
0
1,765
924
0
-1,878
841
90
0
0
0
0
-4,092
0
0
0
0
0
0
0
1,235
36,856
0
0
50,507
0
28,136
0
2,795
6,082
0
1,321
5,955
0
3,628
0
1,096
0
3,793
0
1,217
3,730
0
0
2,198
0
3,931
36,856
50,507
3,628
1,096
2,576
1,522,888
1,518,638
1,887,650
2,083,300
185,750
206,750
157,000
151,250
204,250
209,000
163,750
166,250
200,750
194,250
182,000
181,500
177,000
178,000
4,942,131
4,946,691
5,621,153
5,626,285
6,421,223
6,420,945
504,837
498,351
445,563
446,346
558,568
560,306
488,091
485,659
531,844
532,338
567,926
572,488
584,190
584,959
-310
-15,882
14,028
-14,514
4,967
-6,488
-68
6,006
-4,061
-1,769
36,536
34,626
39,369
-9,752
10,922
-2,860
1,028
8,582
-331
-3,502
67,302
67,302
4,761
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
37 Net change in temporary transactions
38 Total net change in System Open Market Account
1. Sales, redemptions, and negative figures reduce holdings of the System Open Market
Account; all other figures increase such holdings.
2. Transactions exclude changes in compensation for the effects of inflation on the
principal of inflation-indexed securities. Transactions include the rollover of inflation compensation into new securities.
3. Cash value of agreements, which are collateralized by U.S. government and federal
agency obligations.
4. Cash value of agreements, which are collateralized by U.S. Treasury securities.
10
Federal Reserve Bulletin Statistical Supplement • November 2006
1.18
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements1
Millions of dollars
Wednesday
Aug. 2
Aug. 16
Aug. 23
July
Aug. 3
Consolidated condition statement
ASSETS
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
11,037
2,200
757
793,816
764,815
764,815
277,019
457,826
26,019
3,952
0
27,750
1,251
4,880
1,866
39,376
20,243
19,133
11,037
2,200
764
782,689
764,828
764,828
277,019
457,826
26,019
3,966
0
17,500
360
5,263
1,867
39,862
20,292
19,570
11,037
2,200
769
790,453
764,842
764,842
277,019
457,826
26,019
3 979
0
25,250
361
4,013
1,870
36,371
20,237
16,135
11,037
2,200
776
784,972
764,855
764,855
277,019
457,826
26,019
3 992
0
19,750
367
4,260
1,877
36,714
20,128
16,586
11,037
2,200
781
797,680
766,738
766,738
277,019
459,695
26,019
4,006
0
30,250
693
4,060
1,877
37,171
20,120
17,051
11,037
2,200
724
797,905
766,364
766,364
275,370
464,580
22,646
3,768
0
31,250
291
3,234
1,856
38,277
20,194
18,083
11,037
2,200
765
795,422
764,811
764,811
277,019
457,826
26,019
3,948
0
30,250
361
2,615
1,870
39,233
20,217
19,016
11,037
2,200
786
797,338
766,739
766,739
277,019
459,695
26,019
4,008
0
30,250
349
2,991
1,886
36,550
20,072
16,478
853,933
843,682
846,713
841,837
854,806
855,233
853,143
852,788
757,416
28,798
26,912
20,965
5,471
91
386
5,696
4,972
758,723
27,860
17,314
14,051
2,907
88
268
4,743
5,047
758,327
27,509
20,922
16,113
4,443
88
277
4,805
5,180
756,769
26,553
18,725
13,373
4,943
90
318
4,580
5,252
760,006
26,084
28,831
23,568
4,919
89
255
4,462
5,330
760,061
29,164
26,855
20,963
5,525
142
226
4,266
4,885
755,507
29,933
29,448
24,494
4,546
88
320
2,567
5,047
760,472
28,263
24,780
19,525
4,907
89
259
3,597
5,542
823,794
813,687
816,743
811,878
824,714
825,232
822,502
822,653
14,997
12,901
2,240
15,016
12,901
2,077
15,030
12,901
2,039
15,047
12,901
2,011
15,060
12,901
2,131
14,970
12,901
2,130
14,996
12,901
2,743
15,061
12,901
2,173
30,139
29,995
30,092
30,001
1,655,152
1,121,356
533,796
3,806
1,661,704
1,135,161
526,543
2,867
1,675,570
1,140,653
534,918
9,696
1,634,581
1,116,162
518,419
7,849
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
30 Capital paid in
31 Surplus
32 Other capital accounts
30,135
33 Total capital
MEMO
34 Marketable securities held in custody for foreign official
and international accounts3'10
35
U.S. Treasury
36
Federal agency
37 Securities lent to dealers
1,668,332
1,137,470
530,861
2,231
1,676,125
1,142,527
533,598
1,465
1,655,927
1,122,775
533,152
3,271
1,678,418
1,142,802
535,615
3,748
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
930,825
931,061
931,426
931,760
931,912
929,585
931,414
932,183
173,409
757,416
757,416
11,037
2,200
744,180
0
172,338
758,723
758,723
11,037
2,200
745,486
0
173,098
758,327
758,327
11,037
2,200
745,091
0
174,991
756,769
756,769
11,037
2,200
743,532
0
171,906
760,006
760,006
11,037
2,200
746,769
0
169,524
760,061
760,061
11,037
2,200
746,824
0
175,908
755,507
755,507
11,037
2,200
742,270
0
171,711
760,472
760,472
11,037
2,200
747,235
0
792,565
782,328
790,092
784,605
796,988
797,614
795,061
796,989
28,842
27,902
27,549
26,591
26,122
29,221
29,998
28,300
763,723
754,427
762,543
758,014
770,866
768,392
765,063
768,689
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
Aug. 2
1 Total loans
Aug. 9
Aug. 23
Aug. 30
July
Aug.
361
1,251
937
313
0
72
289
0
160
201
325
42
642
51
0
217
74
249
230
119
0
764,815
764,828
764,842
764,855
766,738
766,364
764,811
766,739
59,407
169.631
176,154
218,566
61,352
79,704
59,574
168,826
176,794
218,570
61,355
79,710
62,903
159,003
190,839
211,115
58,151
82,830
63,576
165,659
183,512
211,118
59,710
81,279
63,768
164,899
184,496
212,576
59,713
81,285
41,004
184,882
184,065
217,316
60,714
78,382
41,516
180,436
183,241
218,565
61,351
79,703
37,024
168,950
206,483
213,284
59,713
81,286
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
27,750
17,500
25,250
19,750
30,250
31,250
30,250
30,250
20 Within 15 days
27,750
0
17,500
0
25,250
0
19,750
0
30,250
0
31,250
0
30,250
0
30,250
0
27,509
26,553
27,509
0
26,553
0
26,084
0
29,164
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"
28,798
28,798
27,860
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.
29,933
29,933
0
28,263
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • November 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.
Apr.
Aug.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
40.36
40.28
38.35
681.46
42.70
42.65
41.66
720.13
46.63
46.56
44.72
758.99
45.31
45.14
43.40
787.09
44.05
43.94
42.46
791.98
44.17
44.11
42.62
796.56
43.70
43.53
42.20
799.14
44.61
44.36
42.78
801.98
45.04
44.87
43.24
806.47
45.41
45.16
43.63
805.53
44.20
43.85
42.65
803.68
42.80
42.44
41.26
804.06
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
45.16
44.99
43.25
793.38
47.11
47.00
45.53
795.22
44.67
44.62
43.12
796.17
42.78
42.61
41.27
798.22
44.76
44.51
42.94
800.90
45.47
45.29
43.67
804.71
45.10
44.85
43.31
804.91
44.90
44.55
43.35
804.65
42.63
42.26
41.08
802.75
40.27
40.19
38.26
697.15
2.01
.08
42.95
42.90
41.91
737.62
1.04
.05
46.85
46.79
44.94
774.77
1.91
.06
45.41
45.24
43.50
802.31
1.91
.17
47.18
47.07
45.60
804.30
1.59
.11
44.66
44.61
43.11
804.43
1.55
.05
42.76
42.59
41.25
806.25
1.50
.17
44.74
44.49
42.91
808.43
1.83
.25
45.45
45.27
43.65
811.90
1.80
.18
45.07
44.81
43.28
812.23
1.79
.25
44.86
44.51
43.31
811.77
1.55
.35
42.60
42.23
41.05
809.82
1.55
.37
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.
July
Aug.
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,219.0
5,773.6
8,568.0
1,304.1
6,059.4
8,872.3
1,372.1
6,408.1
9,433.0
1,368.5
6,664.8
10,154.0
1,393.1
6,787.8
n.a.
1,370.3'
6,817.3
n .a.
1,373.4
6,838.6
n.a.
1,370.2
6,862.3
n.a.
626.2
7.8
306.0
279.1
662.3
7.7
324.5
309.5
697.3
7.6
340.2
327.1
723.4
7.3
320.5
317.3
742.6
6.9
326.4
317.1'
740.8
7.0
312.4
310.1'
740.2
6.8
318.8
307.7
741.0
6.8
316.8
305.6
4,554.6
2,767.4
4,755.4
2,792.7
5,035.9
3,011.1
5,296.3
3,478.5
5,394.7
n.a.
5,447.0
n .a.
5,465.2
n.a.
5,492.1
n.a.
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,060.9
590.1
698.2
2,337.8
536.4
764.5
2,632.0
545.1
909.3
2,771.7
633.9
1,122.9
2,774.8
679.1
n.a.
2,790.1'
688.1
n .a.
2,781.3
700.6
n.a.
2,767.7
713.2
n.a.
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
271.8
161.5
850.0
339.8
230.7
844.5
366.2
n.a.
846.8
372.2
n .a.
840.6
380.6'
n.a.
845.1
390.9
n.a.
883.3
1,256.1
776.2
1,123.1
699.5
1,073.9
701.0
1,142.4
730.1
1,190.6
749.8
1,206.1
762.1
1,217.1
775.2
1,241.9
473.4
230.7
494.8
295.3
492.6
379.1
564.3
423.9
n.a.
n.a.
n .a.
n .a.
n.a.
n.a.
n.a.
n.a.
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
5,805.1
8,633.5
1,332.0
6,091.7
8,927.8
1,401.3
6,442.9
9,482.2
1,396.5
6,702.3
10,201.4
1,391.3
6,765.9
1,378.0
6,819.7
n.a.
1,367.1
6,839.3
n.a.
1,369.2
6,855.7
630.3
7.7
323.3
283.8
666.7
7.6
342.6
315.0
702.4
7.5
358.7
332.7
728.9
7.2
337.7
322.7
741.9
6.9
325.3
317.2
741.1
7.0
318.1'
311.8'
741.1
7.0
313.0
305.9'
740.4
7.0
316.7
305.1
Nontransaction components
27 In M27
28 In M3 onlys
4,560.1
2,801.3
4,759.8
2,815.9
5,041.6
3,025.4
5,305.8
3,488.3
5,374.6
5,441.7
n.a.
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
2,633.3
544.8
903.3
2,776.0
633.3
1,114.4
2,761.9
679.7
2,789.0
688.7
n.a.
2,790.3
701.2
n.a.
2,765.2
713.8
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
718.2
302.4
117.3
831.5
273.4
120.1
887.9
271.6
160.4
851.3
339.5
228.9
840.6
366.5
846.5
372.6
n.a.
843.3
380.8
844.4
391.2
887.7
1,289.8
780.8
1,150.1
704.1
1,095.8
705.7
1,162.6
726.0
1,172.5
744.9
1,196.2
756.6
1,205.9
771.9
1,238.4
476.4
228.8
497.6
292.8
494.6
376.6
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 appeal on following page.
n.a.
n.a.
5,486.6
14
Federal Reserve Bulletin Statistical Supplement • November 2006
NOTES TO TABLE 1.21
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
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 Liabilities'
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Oct.
2006
2006
2005
Apr.
May
June
July'
Aug.'
Sept.'
Oct.
Oct. 4
Oct. 11
Oct. 18
Oct. 25
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
7.429.3
2,072.8
1,161.9
910.9
5.356.5
1,026.2
2,866.5
443.1
2.423.5
710.4
242.2
511.1
287.4
320.0
707.9
7.804.7'
2,167.6
1,196.9
970.6
5.637.1'
1,098.2'
3,013.9'
446.5'
2.567.4
726.8
260.9
537.2'
299.7
313.3
761.2
7.922.5'
2,204.4
1,193.1
1,011.3
5,718.1'
1,118.3'
3,040.8
443.8'
2.597.1
733.6
281.1
544.2'
287.4
306.7
779.6
7.932.0
2,190.0
1,199.4'
990.6'
5.742.1
1,126.5
3,080.7
444.6
2.636.0
728.6
259.2
547.0
298.0
306.9'
783.9
7.983.4
2,201.3
1,210.1
991.2
5.782.0
1,137.4
3,117.9
451.2
2.666.7
721.8
256.9
547.9
290.6
313.1
795.0
8.033.5
2,209.8
1,217.2
992.6
5.823.7
1,164.7
3,117.3
447.2
2.670.1
727.1
264.0
550.5
281.0
299.9
798.8
8.029.3
2,179.7
1,203.9
975.8
5.849.5
1,167.8
3,135.4
449.1
2.686.3
725.2
273.6
547.5
307.7
292.7
800.5
8.148.6
2,187.0
1,210.7
976.4
5.961.6
1,179.4
3,276.4
465.1
2.811.3
721.7
275.6
508.5
318.4
296.0
818.5
8.138.4
2,185.3
1,214.0
971.3
5.953.1
1,174.6
3,268.6
464.2
2.804.5
723.2
286.7
499.9
330.8
295.5
841.3
8.148.7
2,181.6
1,206.5
975.2
5.967.1
1,174.0
3,278.9
464.6
2.814.3
723.8
281.8
508.6
331.1
311.6
843.7
8.134.5
2,183.1
1,210.3
972.9
5.951.4
1,175.6
3,275.1
464.8
2.810.3
719.0
275.7
506.0
307.5
271.5
796.2
8.136.0
2,174.3
1,198.9
975.4
5.961.7
1,181.6
3,281.5
465.5
2.816.0
722.5
263.5
512.5
314.3
302.2
800.4
8,676.6
9,111.4'
9,228.3'
9,253.1'
9,314.3
9,345.4
9,362.3
9,512.3
9,537.0
9,566.0
9,440.5
9,483.5
5.705.2
660.4
5.044.8
1,408.1
3,636.7
1,678.0
351.5
1,326.5
94.3
499.8
5.961.5
661.3
5.300.2
1,550.8
3,749.4
1,781.9
370.2
1,411.7
66.2
539.2
5.979.8
677.2
5.302.6
1,574.4
3,728.3
1,822.5
366.1
1,456.5
87.9
566.5
6.001.8'
663.8'
5.338.0
1,598.9
3.739.1
1,831.5
366.7
1,464.9
82.5
549.8
6.028.0
639.2
5.388.8
1,614.2
3,774.6
1,808.8
348.6
1,460.2
136.1
553.8
6.036.7
659.6
5,377.1
1,646.1
3.731.0
1,806.5
332.8
1,473.6
128.5
567.0
6.051.6
631.2
5.420.4
1,678.3
3,742.1
1,844.7
366.8
1,477.9
71.3
562.3
6.132.7
634.8
5.497.9
1,686.7
3,811.2
1,893.2
394.1
1,499.1
38.5
578.3
6.125.8
622.2
5.503.6
1,703.4
3,800.2
1,915.6
407.2
1,508.4
-4.8
596.5
6.142.8
624.4
5.518.4
1,697.4
3,821.0
1,915.8
398.4
1,517.4
50.0
585.6
6.093.3
625.8
5.467.5
1,686.6
3,780.9
1,845.1
381.8
1,463.4
60.8
569.4
6.150.9
656.0
5.494.9
1,672.9
3,822.0
1,880.0
386.0
1,494.0
46.2
561.2
7,977.2
8,348.7
8,456.7
8,465.6'
8,526.7
8,538.6
8,529.9
8,642.7
8,633.2
8,694.3
8,568.6
8,638.3
787.6
806.8
832.5
869.6
903.9
871.8
871.9
845.1
699.3
762.8'
771.6'
787.5
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.
7,435.4
2,068.3
1.155.7
912.5
5.367.2
1,021.5
2,875.9
444.2
2.431.7
712.1
303.2
408.8
244.5
513.2
289.6
323.2
708.2
7,789.2'
2,165.1
1,199.9
965.2
5.624.1'
1,105.3'
3,000.0
445.0'
2.555.0
720.1
299.6
420.5
263.5
535.2'
306.2
308.1
764.0
7,917.0'
2,212.4
1.203.6
1,008.8
5,704.7'
1,124.5'
3,038.6
444.8'
2.593.9
728.0
306.5
421.5
271.8
541.8'
284.1
303.4
784.5
7,925.5
2,192.9
1.202.1'
990.7'
5.732.6
1,130.4
3,072.2'
446.2
2.626.0
721.9
304.8
417.1
258.8
549.4
291.1
302.8'
786.1
7,951.5
2,189.2
1.202.5
986.7
5.762.3
1,135.3
3,109.4
452.1
2.657.3
714.6
306.8
407.7
253.1
550.0
283.2
308.3
795.5
8,010.4
2,203.2
1.210.9
992.3
5.807.1
1,158.5
3,117.7
448.7
2.669.0
724.4
311.8
412.6
256.8
549.7
279.2
290.2
801.0
8,026.3
2,173.5
1.194.2
979.3
5.852.9
1,162.0
3,142.5
451.0
2.691.5
726.9
312.2
414.7
270.9
550.6
304.4
293.7
802.6
8,148.5
2,176.6
1,198.4
978.2
5.972.0
1,173.6
3,286.9
466.2
2.820.7
723.6
308.1
415.5
281.0
506.9
320.4
298.6
818.9
8,124.1
2,176.2
1,199.2
977.0
5.947.9
1,167.8
3,274.0
465.4
2.808.6
722.4
308.4
414.0
282.9
500.8
329.9
289.8
840.2
8,136.2
2,167.3
1.189.3
978.0
5.968.9
1,167.0
3,290.1
465.7
2.824.4
721.8
307.6
414.3
281.9
508.1
328.6
326.2
851.1
8,131.5
2,168.1
1.194.3
973.8
5.963.4
1,169.9
3.285.1
466.3
2.818.8
721.9
307.6
414.2
282.8
503.8
309.5
281.4
794.3
8,140.0
2,165.3
1.189.6
975.6
5,974.7
1,176.6
3.289.7
466.3
2.823.4
726.1
309.0
417.1
273.7
508.5
311.7
287.5
796.0
8,688.6
9,100.3'
9,221.4'
9,237.7'
9,270.9
9,312.9
9,359.1
9,517.4
9,515.0
9,573.3
9,447.9
9,466.4
5.693.0
655.4
5.037.6
1,396.6
3,641.0
1,677.4
351.9
1,325.5
99.4
504.7
5.983.4
669.1
5.314.3
1,555.0
3,759.3
1,786.1
373.0
1,413.1
51.3
523.4
5,977.5
668.6
5.308.9
1,585.8
3,723.1
1,835.6
366.0
1,469.6
82.5
562.4
6.012.0'
661.4'
5.350.6
1,612.2
3,738.4
1,842.0
366.1
1,475.9
75.5
543.4
6.013.5
632.3
5.381.2
1,617.3
3,763.9
1,804.2
347.9
1,456.4
127.5
545.8
6.022.0
646.8
5.375.2
1,643.2
3,731.9
1,799.7
333.8
1,466.0
129.4
568.5
6.041.3
626.0
5.415.3
1,669.4
3,745.9
1,854.7
368.1
1,486.6
74.9
566.0
6.118.7
629.9
5.488.8
1,673.0
3,815.8
1,892.4
394.6
1,497.8
44.9
583.7
6.137.1
595.6
5.541.5
1,700.7
3,840.8
1,913.6
404.2
1,509.4
-5.0
596.6
6.166.3
599.9
5.566.4
1,687.9
3,878.5
1,898.1
396.3
1,501.9
50.6
587.2
6.091.1
626.9
5.464.2
1,667.3
3,796.8
1,846.2
380.3
1,465.9
65.4
572.3
6.061.8
673.6
5.388.2
1,658.6
3,729.5
1,886.9
387.2
1,499.7
61.9
573.8
7,974.5
8,344.2
8,458.1
8,473.0'
8,491.1
8,519.5
8,537.0
8,639.8
8,642.3
8,702.3
8,575.0
8,584.3
714.1
756.1'
763.3'
764.8
779.8
793.4
822.1
877.7
872.6
871.0
873.0
882.1
16
Federal Reserve Bulletin Statistical Supplement • November 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
Oct.
2006
2006
2005
Apr.
May
June
July'
Aug.'
Sept.'
Oct.
Oct. 4
Oct. 11
Oct. 18
Oct. 25
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
6,634.5
1,715.8
1,077.6
638.1
4,918.7
863.3
2,845.2
443.1
2,402.1
710.4
104.5
395.4
240.1
263.1
668.0
6,956.1'
1,809.2
1,119.7
689.5
5,146.9'
916.4'
2,991.8
446.5'
2,545.3'
726.8
105.5
406.4'
251.8
264.1
721.1
7,023.8'
1,819.8
1,112.9
706.8
5,204.0'
931.7'
3,018.2
443.8'
2,574.4
733.6
111.6
408.8'
242.2
257.4
730.4
7,042.8
1,812.4
1,119.9'
692.5'
5,230.4
934.5
3,058.5
444.6
2,613.9
728.6
95.1
413.7
249.5
255.1'
737.7
7,090.8
1,826.2
1,129.6
696.6
5,264.6
943.0
3,095.3
451.2
2,644.1
721.8
93.2
411.2
244.1
260.1
749.1
7,113.7
1,825.5
1,132.8
692.7
5,288.2
957.3
3,094.9
447.2
2,647.7
727.1
96.8
412.0
229.7
247.8
749.5
7,123.8
1,809.4
1,119.4
690.0
5,314.4
956.9
3,113.2
449.1
2,664.1
725.2
111.0
408.1
251.3
245.5
757.3
7,246.0
1,826.6
1,129.4
697.2
5,419.4
963.6
3,253.9
465.1
2,788.8
721.7
112.0
368.2
257.1
249.8
778.7
7,234.0
1,818.9
1,127.6
691.3
5,415.1
962.3
3,246.5
464.2
2,782.4
723.2
116.9
366.2
267.5
252.1
792.2
7,233.9
1,817.0
1,123.8
693.2
5,417.0
960.5
3,256.1
464.6
2,791.5
723.8
112.0
364.6
269.8
267.7
803.5
7,236.9
1,825.0
1,130.3
694.7
5,411.9
962.1
3,252.5
464.8
2,787.7
719.0
113.8
364.5
248.9
225.0
760.5
7,242.8
1,819.3
1,119.7
699.5
5,423.5
964.4
3,259.0
465.5
2,793.5
722.5
105.9
371.7
252.6
253.7
761.1
7,738.1
8,126.2'
8,186.6'
8,218.1'
8,276.8
8,273.4
8,310.7
8,463.1
8,477.2
8,506.3
8,402.6
8,441.4
5,082.0
648.5
4,433.6
806.7
3,626.8
1,295.6
300.6
994.9
273.3
386.9
5,288.2
648.6
4,639.6
902.5
3,737.2
1,361.7
314.8
1,046.9
283.5
432.5
5,306.7
665.4
4,641.3
927.1
3,714.3
1,385.3
315.1
1,070.2
298.4
436.1
5,324.0'
651.9'
4,672.1
946.3
3,725.7
1,387.1
316.0
1,071.1
298.6
430.5
5,350.2
627.3
4,722.9
958.2
3,764.7
1,376.2
299.6
1,076.6
333.8
433.8
5,335.9
648.3
4,687.6
961.9
3,725.7
1,371.5
285.6
1,085.9
325.0
440.4
5,324.3
620.4
4,704.0
963.6
3,740.4
1,398.3
311.3
1,087.0
315.1
442.0
5,398.1
624.2
4,773.9
964.4
3,809.4
1,431.5
335.1
1,096.4
297.5
463.4
5,387.3
612.6
4,774.7
976.1
3,798.5
1,446.1
342.8
1,103.3
272.9
469.9
5,402.2
614.0
4,788.1
968.8
3,819.3
1,453.1
334.0
1,119.1
307.6
466.0
5,357.8
615.7
4,742.1
963.0
3,779.2
1,407.5
330.8
1,076.6
304.6
455.0
5,426.2
645.2
4,781.0
960.7
3,820.3
1,420.2
332.6
1,087.6
302.4
453.6
7,037.7
7,366.0
7,426.5
7,440.2'
7,494.0
7,472.8
7,479.8
7,590.6
7,576.2
7,628.9
7,524.9
7,602.4
782.8
800.6
830.9
872.5
901.0
877.5
877.8
839.0
700.4
760.2'
760.1'
777.9
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
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.
6,644.7
1,711.2
1,071.5
639.8
4,933.4
860.8
2,854.6
444.2
2,410.4
1,188.9
1,221.5
712.1
303.2
408.8
108.0
398.0
242.3
265.3
669.0
6,934.0'
1,806.8
1,122.7
684.1
5,127.3'
922.5'
2,978.0'
445.0'
2,533.0
1,226.9'
1,306.1'
720.1
299.6
420.5
103.9
402.9'
258.2
259.8
724.8
7,021.8'
1,827.8
1,123.4
704.3
5,194.0'
937.9'
3,016.0
444.8'
2,571.2
1,246.1
1,325.1
728.0
306.5
421.5
106.5
405.6'
239.0
254.8
734.8
7,036.6'
1,815.3
1,122.6'
692.7'
5,221.2
938.7
3,050.0
446.2
2,603.8
1,265.7
1,338.1
721.9
304.8
417.1
96.1
414.5
242.6
251.8'
739.9
7,062.7
1,814.0
1,122.0
692.1
5,248.7
941.6
3,086.7
452.1
2,634.6
1,282.6
1,352.0
714.6
306.8
407.7
92.5
413.3
236.7
255.7
750.4
7,098.4
1,818.9
1,126.5
692.4
5,279.5
951.7
3,095.3
448.7
2,646.6
1,282.2
1,364.4
724.4
311.8
412.6
95.8
412.3
227.9
237.7
752.2
7,125.6
1,803.1
1,109.7
693.4
5,322.5
952.6
3,120.3
451.0
2,669.3
1,291.6
1,377.6
726.9
312.2
414.7
111.2
411.5
248.0
245.6
760.2
7,249.2
1,816.2
1,117.2
699.0
5,433.0
960.8
3,264.3
466.2
2,798.1
1,399.8
1,398.3
723.6
308.1
415.5
114.7
369.6
259.1
251.6
780.0
7,229.0
1,809.7
1,112.7
697.0
5,419.2
958.7
3,251.9
465.4
2,786.5
1,394.9
1,391.6
722.4
308.4
414.0
116.9
369.3
266.6
245.9
793.6
7,229.0
1,802.6
1,106.6
696.1
5,426.4
957.1
3,267.3
465.7
2,801.6
1,407.2
1,394.4
721.8
307.6
414.3
113.3
366.9
267.3
281.5
809.5
7,236.9
1,810.0
1,114.3
695.6
5,426.9
959.3
3,262.5
466.3
2,796.2
1,398.2
1,397.9
721.9
307.6
414.2
117.7
365.5
251.0
233.9
759.4
7,246.1
1,810.2
1,110.4
699.8
5,435.9
961.8
3,267.2
466.3
2,800.9
1,399.2
1,401.7
726.1
309.0
417.1
109.5
371.3
250.0
238.2
758.6
7,754.0
8,110.1'
8,183.2'
8,203.5'
8,238.4
8,248.9
8,312.0
8,471.5
8,466.6
8,519.0
8,412.9
8,424.7
5,082.5
643.6
4,438.9
807.5
3,631.3
1,294.9
301.1
993.9
275.7
389.6
5,301.0
656.5
4,644.5
897.7
3,746.9
1,365.9
317.7
1,048.3
271.4
418.5
5,292.5
657.1
4,635.4
926.5
3,708.9
1,398.3
315.0
1,083.4
297.0
435.0
5,323.5'
649.8'
4,673.7
948.9
3,724.8
1,397.5
315.4
1,082.1
294.5
426.1
5,334.4
620.7
4,713.6
959.7
3,754.0
1,371.7
298.9
1,072.8
327.9
427.6
5,324.2
635.6
4,688.6
962.0
3,726.6
1,364.8
286.5
1,078.3
326.9
442.6
5,322.3
615.1
4,707.2
963.0
3,744.2
1,408.3
312.6
1,095.7
317.4
444.8
5,399.1
619.5
4,779.6
965.5
3,814.1
1,430.7
335.6
1,095.1
300.3
466.7
5,409.5
586.2
4,823.2
984.1
3,839.1
1,444.1
339.9
1,104.2
273.1
470.3
5,438.4
589.8
4,848.6
971.8
3,876.8
1,435.4
331.9
1,103.6
308.9
468.1
5,373.2
616.7
4,756.5
961.4
3,795.1
1,408.5
329.4
1,079.1
305.4
455.8
5,348.3
662.9
4,685.4
957.6
3,727.8
1,427.1
333.8
1,093.4
309.0
461.0
7,042.7
7,356.8
7,422.7
7,441.6'
7,461.5
7,458.4
7,492.7
7,596.8
7,596.9
7,650.9
7,542.8
7,545.5
776.9
790.5
819.2
874.8
869.7
868.1
870.1
879.2
711.3
753.3'
760.4'
761.9
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
Oct.
2006
2006
2005
Apr.
May
June
July
Aug.
Sept.'
Oct.
Oct. 4
Oct. 11
Oct. 18
Oct. 25
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 assets56
33 Other assets
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.
3,690.1'
1,014.1
591.2
42.5
548.7
446.7'
102.0
422.9
204.5
218.4
37.6
180.7
2,676.0'
511.5
1,416.8'
313.3
1,103.5'
688.0'
415.5
361.3
94.2
3,880.6'
1,116.7'
642.5
42.7
599.8'
514.5
85.3
474.2
227.3
246.8
43.3
203.5
2,763.9'
543.0
1,459.3
321.5
1,137.7'
704.2
433.6
373.2
93.9
3,923.9'
1,126.5'
635.0'
38.9
596.1
513.4
82.7
491.5
241.8
249.7
45.1
204.6
2,797.5'
553.9
1,468.6
321.2
1,147.4
706.9'
440.4
377.7
100.4
3,917.7'
1,123.2
647.7'
47.9
599.7
524.4'
75.4
475.6
228.5
247.1
43.8
203.3
2,794.4'
550.5
1,488.0'
322.4
1,165.6'
720.9'
444.7
372.7
83.5
3,940.1'
1,137.6'
657.3'
50.2
607.1'
537.1'
70.0
480.3
228.6
251.7
42.9
208.8
2,802.5'
552.6
1,506.2'
323.8
1,182.5
734.0'
448.5
364.2
81.8'
3,954.9'
1,136.4'
660.3'
47.2
613.0
542.5'
70.6
476.1
224.3
251.8
42.7
209.1
2,818.5'
559.9
1,505.4'
324.2
1,181.2'
729.1'
452.1
370.1
85.6
3,955.8
1,115.0
644.8
44.3
600.5
527.1
73.4
470.3
221.5
248.8
42.6
206.1
2,840.8
558.1
1,520.2
327.2
1,193.0
735.4
457.6
370.3
99.5
4,075.2
1,124.0
657.1
51.5
605.6
533.0
72.6
467.0
222.0
245.0
45.2
199.8
2,951.1
565.9
1,658.1
344.7
1,313.5
843.5
470.0
373.9
100.6
4,063.8
1,116.7
654.8
45.7
609.1
537.5
71.6
461.9
220.3
241.6
42.7
198.9
2,947.1
565.6
1,652.8
343.9
1,309.0
841.5
467.4
371.9
105.6
4,067.7
1,117.4
653.2
47.1
606.1
534.1
72.0
464.2
219.3
244.9
44.7
200.3
2,950.3
564.1
1,661.9
344.6
1,317.4
851.7
465.7
373.7
100.7
4,070.5
1,123.7
658.8
52.5
606.3
535.6
70.7
464.8
219.5
245.3
45.3
200.1
2,946.8
564.9
1,656.2
344.5
1,311.7
843.1
468.6
372.7
102.7
4,068.2
1,115.6
647.4
52.0
595.5
522.3
73.2
468.2
222.9
245.3
45.8
199.5
2,952.6
566.2
1,661.6
345.3
1,316.3
841.6
474.7
376.0
94.2
77.5
16.7
18.7
10.0
75.6
18.3
19.0
9.9
80.6
19.8
19.4
10.2
65.2
18.4
19.5
10.1
64.8
16.9
19.6
10.1
68.7
16.9
20.4
10.1
82.5
17.1
20.8
10.1
84.4
16.2
23.4
10.3
89.6
16.0
23.2
10.3
83.9
16.8
23.2
10.3
87.6
15.2
23.4
10.3
78.5
15.7
23.7
10.3
32.5
136.7'
94.4
151.4'
19.3
152.8'
93.5
146.6'
18.4
154.9'
94.0
141.2'
23.9'
151.5'
94.7
144.1'
23.9
149.6'
94.5
142.5'
23.3
149.7'
94.0'
131.8'
24.5
143.2
94.0
155.0
25.0
101.0
92.8
162.1
23.7
101.3
92.7
170.5
23.4
100.3
92.6
175.0
24.2
99.6
92.8
159.2
27.0
100.7
92.9
156.5
88.7'
62.8
154.9'
467.8'
83.7'
62.9
157.3'
475.8'
81.3'
59.9
148.6'
485.2'
83.2'
60.9
149.2'
485.7'
82.4'
60.2
148.5'
495.3'
73.3'
58.6
137.3'
494.6'
93.8
61.2
137.6
507.3
88.3
73.8
143.2
514.2
90.9
79.7
142.0
537.6
97.8
77.2
156.6
538.3
86.7
72.5
123.1
502.7
84.4
72.1
146.7
500.7
4,431.1'
4,628.2'
4,666.8'
4,664.8'
4,694.5'
4,687.0'
4,724.1
4,861.5
4,880.7
4,904.3
4,822.2
4,838.8
2,586.1'
305.9'
2,280.2'
378.7
1,901.5'
786.4'
136.6
649.8'
257.8
316.9
2,687.4'
307.8'
2,379.6
441.3
1,938.3
841.9'
152.2
689.7'
264.7
358.6'
2,696.5'
317.1'
2,379.4
456.0
1,923.4'
850.8
148.2'
702.5'
279.1
363.0
2,690.5'
313.6'
2,376.8
464.2
1,912.6'
843.7
150.0
693.7
280.2
358.5'
2,693.0'
295.8'
2,397.3'
470.5
1,926.7
836.5
137.4
699.0'
313.4
361.4'
2,679.2'
313.2'
2,366.0
466.4
1,899.6
844.0
136.0
708.0
305.8
365.7'
2,683.2
300.8
2,382.4
468.5
1,913.9
863.9
150.3
713.7
294.9
365.5
2,752.4
301.6
2,450.7
476.5
1,974.2
878.2
147.9
730.3
276.8
379.3
2,756.2
302.9
2,453.4
488.4
1,965.0
895.1
153.4
741.6
250.4
386.9
2,759.5
298.6
2,461.0
481.1
1,979.9
904.2
147.7
756.5
286.3
383.1
2,727.2
299.3
2,427.9
479.3
1,948.7
856.5
145.9
710.6
284.6
371.7
2,763.9
317.9
2,446.0
471.8
1,974.2
862.6
142.9
719.8
281.5
368.9
3,947.2'
4,152.6'
4,189.4'
4,172.8'
4,204.2'
4,194.7'
4,207.5
4,286.7
4,288.6
4,333.1
4,240.1
4,276.9
483.9'
475.6'
477.4'
491.9'
490.3'
492.3'
516.6
574.8
592.1
571.2
582.1
561.8
18
Federal Reserve Bulletin Statistical Supplement • November 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities' —Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Monthly averages
Account
2006
2005
Oct.
Wednesd ay figures
Apr.
May
June
July
2006
Aug.
Sept.'
Oct.
Oct. 4
Oct. 11
Oct. 18
Oct. 25
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.
3.692.3'
1,010.8'
586.2
40.4
545.8
445.7
100.1
424.5
205.3
219.2
37.8
181.4
2,681.5'
510.1
1,419.1
313.7
1,105.4
688.3'
417.0'
360.7
116.1
244.6
97.8
3,869.6'
1,110.9
642.2
43.4
598.8
513.0'
85.8
468.7
224.7
244.0
42.8
201.2
2,758.7'
547.1
1,456.2'
320.4
1,135.8'
702.9
432.9
370.8
113.1
257.7
92.3
3,930.7'
1,136.3'
647.3
40.9
606.4
522.4
84.0
489.0
240.6
248.4
44.8
203.5
2,794.4'
557.4
1,471.6'
322.2
1,149.5'
709.4'
440.0
375.3
116.1
259.2
95.5
3,921.6'
1,125.2
649.4
48.0
601.4'
525.5
75.9
475.8
228.5
247.2
43.9
203.4
2,796.4'
553.0
1,488.8'
323.6
1,165.2'
722.0'
443.2
370.1
115.5
254.6
84.6
3,922.4'
1,127.0
651.2
49.0
602.3'
532.5'
69.8
475.8
226.4
249.3
42.5
206.8
2,795.4'
551.2
1,504.1
324.5
1,179.5'
733.7
445.9
360.5
115.4
245.0
81.2
3,942.8'
1,132.6'
656.8'
46.5
610.3
540.0
70.3
475.8
224.2
251.6
42.6
209.0
2,810.2'
556.6
1,505.3'
325.5
1,179.8'
729.4'
450.5
368.1
118.8
249.3
84.6
3,954.0
1,112.0
638.3
43.2
595.1
522.4
72.6
473.7
223.1
250.6
43.0
207.6
2,842.0
556.0
1,521.3
328.3
1,193.0
736.0
457.0
370.8
119.8
251.0
99.9
4,070.6
1,115.8
647.1
49.0
598.1
526.8
71.3
468.8
222.8
245.9
45.4
200.5
2,954.7
564.4
1,660.8
345.1
1,315.7
843.9
471.7
373.5
120.2
253.3
103.3
4,058.6
1,110.8
643.2
43.1
600.1
529.8
70.3
467.6
223.0
244.6
43.4
201.3
2,947.8
564.0
1,654.6
344.5
1,310.1
842.1
468.0
371.2
119.4
251.9
105.6
4,058.9
1,105.1
638.0
43.7
594.3
524.3
70.0
467.0
220.6
246.4
44.9
201.5
2,953.8
562.3
1,667.2
344.9
1,322.2
853.2
469.1
371.9
119.7
252.2
102.0
4,062.1
1,110.9
645.1
49.0
596.1
527.2
68.9
465.8
219.9
245.8
45.4
200.5
2,951.2
563.2
1,658.9
345.3
1,313.7
843.1
470.5
372.3
120.1
252.2
106.7
4,061.6
1,108.2
639.8
49.7
590.0
518.4
71.7
468.4
223.0
245.4
45.8
199.6
2,953.5
564.7
1,660.6
345.3
1,315.3
840.3
475.0
376.1
121.3
254.8
98.1
80.5'
17.4
18.7
10.0
74.3
18.0
19.0
9.8
76.7'
18.9
19.4
10.1
66.1
18.5
19.5
10.1
64.2
17.1
19.6
10.2
67.6
17.0
20.4
10.2
82.6
17.3
20.8
10.1
86.5
16.8
23.4
10.4
89.4
16.3
23.2
10.3
84.8
17.2
23.2
10.4
90.4
16.2
23.4
10.4
81.8
16.3
23.7
10.4
32.5
138.3'
94.3
151.4'
19.3
150.5'
93.7
150.7'
18.4
152.8'
93.8
143.7'
23.9'
152.2'
94.3
142.9'
23.9
150.8'
93.9
141.1'
23.3
148.6'
93.2
132.4'
24.5
145.1
93.4
153.6
25.0
101.2
92.7
161.8
23.7
102.2
92.9
167.5
23.4
100.6
92.8
170.5
24.2
99.4
92.6
159.2
27.0
100.4
92.6
154.2
88.7'
62.7
155.6'
468.8'
86.0'
64.7
156.5'
479.5'
82.6'
61.0
147.3'
489.5'
82.6'
60.4
146.7'
487.8'
81.5'
59.5
144.5'
496.6'
73.5'
58.8
128.9'
497.3'
92.9
60.7
136.2
510.2
88.1
73.7
143.7
515.4
89.3
78.2
135.7
539.0
95.3
75.2
163.9
544.3
86.7
72.5
129.4
501.7
83.1
71.1
135.9
498.2
4,435.3'
4,624.5'
4,679.1'
4,667.1'
4,672.8'
4,669.6'
4,722.2
4,858.6
4,867.7
4,904.6
4,819.4
4,817.0
2,586.3'
301.1'
2,285.2
379.5
1,905.7'
785.8'
137.0
648.8
260.1
319.7'
2,693.2'
313.9'
2,379.3
436.5
1,942.8
846.2
155.1
691.1
252.5
344.6'
2,685.3'
312.5'
2,372.8
455.5
1,917.3
863.8
148.1'
715.7
277.7
361.9'
2,691.6'
313.0'
2,378.5
466.8
1,911.7
854. T
149.4
704.7'
276.1
354.1'
2,685.9'
291.4'
2,394.5
472.0
1,922.5'
831.9'
136.7
695.2
307.5
355.3'
2,670.7'
303.2'
2,367.5'
466.4
1,901.0
837.2'
136.9
700.3'
307.7
367.8
2,681.8
296.7
2,385.1
467.9
1,917.2
873.9
151.6
722.3
297.2
368.2
2,753.1
296.8
2,456.2
477.6
1,978.7
877.4
148.4
729.0
279.5
382.7
2,773.4
283.8
2,489.7
496.4
1,993.3
893.0
150.5
742.6
250.5
387.3
2,784.5
280.7
2,503.8
484.0
2,019.8
886.5
145.5
740.9
287.6
385.2
2,741.4
301.7
2,439.8
477.7
1,962.0
857.5
144.4
713.1
285.4
372.5
2,710.2
325.7
2,384.5
468.7
1,915.9
869.6
144.0
725.5
288.2
376.3
3,952.0'
4,136.5'
4,188.8'
4,175.9'
4,180.5'
4,183.4'
4,221.2
4,292.6
4,304.3
4,343.8
4,256.8
4,244.3
483.3'
488.0'
490.4'
491.2'
492.3'
486.2'
501.1
565.9
563.4
560.8
562.5
572.8
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
Oct.'
2006
2006
2005
Apr.'
May'
June'
July'
Aug.'
Sept.'
Oct.
Oct. 4
Oct. 11
Oct. 18
Oct. 25
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
2.944.5
701.8
486.6
215.2
2.242.7
351.8
1.428.4
129.8
1.298.6
349.2
10.2
103.1
88.7
108.2
200.2
3.076.7
693.7
478.4
215.3
2.382.9
373.4
1.532.5
125.0
1.407.6
353.6
11.5
111.8
105.2
106.9
245.3
3.098.4
691.9
476.5
215.4
2.406.5
377.9
1.549.6
122.6
1.427.0
355.9
11.2
111.9
101.0
108.9
245.3
3.126.1
690.1
473.1
216.9
2.436.0
384.0
1.570.5
122.3
1.448.2
355.9
11.6
114.0
105.4
106.0
252.0
3.150.7
688.7
472.4
216.3
2.462.1
390.5
1.589.0
127.4
1,461.6
357.6
11.4
113.5
101.5
111.6
253.9
3.157.5
687.9
471.3
216.6
2.469.6
397.4
1.589.5
123.1
1.466.5
357.0
11.2
114.5
97.9
110.5
254.9
3.166.0
692.3
472.6
219.7
2.473.7
398.8
1.593.0
122.0
1.471.0
354.9
11.5
115.4
96.3
107.9
250.0
3.171.0
702.7
472.4
230.3
2.468.3
397.7
1.595.7
120.4
1.475.3
347.7
11.4
115.7
95.0
106.6
264.5
3.169.8
701.8
472.4
229.4
2.468.0
396.6
1.593.7
120.3
1.473.4
351.3
11.3
115.1
97.0
110.1
254.6
3.166.6
699.9
470.9
229.0
2.466.7
396.4
1.594.2
120.0
1.474.2
350.1
11.3
114.8
94.8
111.1
265.2
3.167.0
701.9
472.0
229.9
2.465.1
397.3
1.596.3
120.3
1.476.0
346.3
11.1
114.2
89.7
101.9
257.8
3.175.0
704.1
472.8
231.4
2.470.9
398.2
1.597.4
120.2
1.477.2
346.5
11.7
117.1
96.1
107.0
260.4
3,307.1
3,499.2
3,518.3
3,554.2
3,582.3
3,585.1
3,584.6
3,601.7
3,596.1
3,602.4
3,581.0
3,603.1
2.495.9
342.5
2.153.4
428.0
1.725.4
509.1
164.0
345.1
15.5
69.9
2.600.8
340.8
2.260.0
461.2
1.798.9
519.8
162.6
357.2
18.9
73.9
2.610.3
348.3
2.262.0
471.0
1.790.9
534.5
166.8
367.7
19.2
73.0
2.633.5
338.3
2.295.2
482.1
1.813.2
543.4
166.0
377.4
18.4
72.0
2.657.2
331.6
2.325.6
487.7
1.838.0
539.7
162.2
377.6
20.4
72.4
2.656.7
335.1
2.321.6
495.6
1.826.1
527.5
149.6
378.0
19.2
74.7
2.641.1
319.6
2.321.5
495.0
1.826.5
534.4
161.1
373.3
20.2
76.6
2.645.8
322.6
2.323.1
488.0
1.835.2
553.3
187.3
366.0
20.7
84.0
2.631.1
309.8
2.321.3
487.8
1.833.5
551.1
189.4
361.6
22.5
83.0
2.642.6
315.4
2.327.2
487.8
1.839.4
548.9
186.3
362.6
21.3
82.9
2.630.6
316.4
2.314.2
483.7
1.830.5
550.9
185.0
366.0
20.0
83.3
2.662.3
327.3
2,334.9
488.9
1.846.0
557.6
189.7
367.8
20.9
84.7
3,090.5
3,213.4
3,237.0
3,267.4
3,289.7
3,278.1
3,272.3
3,303.8
3,287.6
3,295.8
3,284.8
3,325.4
216.6
285.8
281.3
286.8
292.6
307.0
312.3
297.9
308.5
306.6
296.2
277.6
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.
2,952.4
700.5
485.3
215.2
2.251.9
350.6
1.435.5
130.5
1.305.0
500.6
804.5
351.3
187.2
164.2
10.2
104.2
90.9
109.7
200.2
3,064.4
695.8
480.5
215.3
2.368.6
375.4
1.521.8
124.6
1.397.2
524.0
873.1
349.3
186.4
162.8
11.6
110.6
107.5
103.3
245.3
3,091.0
691.5
476.1
215.4
2.399.6
380.5
1.544.4
122.6
1.421.7
536.7
885.1
352.7
190.4
162.3
11.0
111.0
95.4
107.5
245.3
3,114.9
690.1
473.2
216.9
2.424.8
385.7
1,561.1
122.6
1.438.6
543.7
894.9
351.8
189.3
162.5
11.5
114.6
99.6
105.1
252.0
3,140.3
687.0
470.7
216.3
2,453.3
390.3
1.582.7
127.6
1.455.1
549.0
906.1
354.1
191.4
162.7
11.3
114.9
95.6
111.2
253.9
3,155.7
686.3
469.7
216.6
2.469.3
395.1
1.590.0
123.3
1.466.8
552.8
913.9
356.3
193.0
163.3
11.2
116.7
95.5
108.8
254.9
3,171.7
691.1
471.4
219.7
2.480.6
396.6
1.598.9
122.7
1.476.2
555.7
920.6
356.1
192.4
163.7
11.3
117.6
94.4
109.4
250.0
3,178.6
700.4
470.1
230.3
2.478.3
396.4
1.603.5
121.1
1.482.4
555.8
926.6
350.1
187.9
162.2
11.4
117.0
97.3
107.9
264.5
3,170.4
698.9
469.5
229.4
2.471.4
394.7
1.597.2
120.9
1.476.4
552.8
923.6
351.1
189.0
162.1
11.3
117.0
99.1
110.2
254.6
3,170.1
697.5
468.5
229.0
2.472.6
394.8
1.600.1
120.7
1.479.4
554.1
925.3
349.9
187.9
162.0
11.3
116.5
96.8
117.5
265.2
3,174.8
699.1
469.3
229.9
2.475.7
396.1
1.603.5
121.0
1.482.5
555.1
927.4
349.5
187.5
162.1
11.1
115.5
91.8
104.5
257.8
3,184.5
702.0
470.7
231.4
2.482.5
397.1
1.606.5
120.9
1.485.6
558.9
926.6
350.1
187.8
162.3
11.4
117.3
95.9
102.4
260.4
3,318.8
3,485.6
3,504.0
3,536.4
3,565.6
3,579.3
3,589.7
3,613.0
3,598.9
3,614.4
3,593.5
3,607.6
2.496.1
342.5
2.153.7
428.0
1.725.7
509.1
164.0
345.1
15.5
69.9
2.607.8
342.6
2.265.3
461.2
1.804.1
519.8
162.6
357.2
18.9
73.9
2.607.2
344.6
2.262.6
471.0
1.791.5
534.5
166.8
367.7
19.2
73.0
2.631.9
336.7
2.295.2
482.1
1,813.1
543.4
166.0
377.4
18.4
72.0
2.648.5
329.4
2.319.1
487.7
1.831.5
539.7
162.2
377.6
20.4
72.4
2.653.5
332.4
2.321.1
495.6
1.825.6
527.5
149.6
378.0
19.2
74.7
2.640.4
318.3
2.322.1
495.0
1.827.1
534.4
161.1
373.3
20.2
76.6
2.646.0
322.7
2.323.4
488.0
1.835.4
553.3
187.3
366.0
20.7
84.0
2.636.0
302.5
2.333.6
487.8
1.845.8
551.1
189.4
361.6
22.5
83.0
2.653.9
309.1
2.344.8
487.8
1.857.0
548.9
186.3
362.6
21.3
82.9
2.631.8
315.0
2.316.7
483.7
1.833.1
550.9
185.0
366.0
20.0
83.3
2.638.0
337.2
2.300.9
488.9
1.812.0
557.6
189.7
367.8
20.9
84.7
3,090.7
3,220.3
3,234.0
3,265.8
3,281.0
3,275.0
3,271.6
3,304.1
3,292.6
3,307.0
3,286.0
3,301.2
228.0
265.3
270.1
270.6
284.6
304.3
318.2
308.9
306.3
307.3
307.5
306.4
20
Federal Reserve Bulletin Statistical Supplement • November 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
Oct.
2006
2006
2005
Apr.
May
June
July
Aug.
Sept.
Oct.
Oct. 4
Oct. 11
Oct. 18
Oct. 25
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
794.8
357.0
84.3
272.8
437.8
163.0
21.3
137.8
115.8
47.3
56.9
39.9
848.5
358.3
77.2
281.1
490.2
181.8
22.1
155.5
130.8
47.9
49.2
40.1
898.7
384.6
80.1
304.5
514.1
186.6
22.7
169.5
135.4
45.1
49.3
49.2
889.2
377.5
79.5
298.1
511.6
192.0
22.2
164.1
133.3
48.5
51.7
46.2
892.6
375.1
80.5
294.6
517.5
194.4'
22.7
163.7
136.7'
46.5
53.1
45.9
919.8
384.3
84.4
299.9
535.5'
207.4'
22.4
167.2
138.5'
51.3
52.2
49.3
905.5
370.4
84.5
285.9
535.1
210.9
22.2
162.6
139.4
56.4
47.2
43.1
902.6
360.4
81.2
279.2
542.2
215.8
22.5
163.6
140.2
61.3
46.2
39.7
904.5
366.4
86.4
280.0
538.1
212.4
22.1
169.8
133.7
63.4
43.4
49.2
914.8
364.7
82.7
282.0
550.1
213.5
22.8
169.8
144.0
61.3
44.0
40.2
897.7
358.2
80.0
278.2
539.5
213.4
22.6
161.9
141.6
58.5
46.5
35.7
893.2
355.1
79.2
275.9
538.1
217.2
22.5
157.7
140.7
61.7
48.5
39.2
938.5
985.3
1,041.7
1,035.1
1,037.5
1,072.0
1,051.7
1,049.2
1,059.9
1,059.7
1,037.9
1,042.1
623.1
11.9
611.2
382.4
50.8
331.6
-179.0
112.9
673.3
12.7
660.6
420.2
55.3
364.8
-217.4
106.6
673.1
11.8
661.3
437.2
51.0
386.2
-210.5
130.4
677.8
11.8
666.0
444.5
50.6
393.8
-216.1
119.3
677.8
11.8
665.9
432.6
49.0
383.6
-197.7
120.0
700.8
11.3
689.5
435.0
47.2
387.7
-196.6
126.6
727.3
10.9
716.4
446.4
55.4
390.9
-243.9
120.3
734.5
10.5
724.0
461.7
59.0
402.7
-259.0
114.9
738.5
9.5
728.9
469.5
64.4
405.1
-277.7
126.7
740.7
10.4
730.3
462.7
64.4
398.3
-257.6
119.6
735.5
10.1
725.4
437.7
50.9
386.8
-243.8
114.4
724.7
10.7
713.9
459.8
53.4
406.4
-256.2
107.6
939.5
982.7
1,030.3
1,025.4
1,032.7
1,065.8
1,050.1
1,052.1
1,057.0
1,065.4
1,043.8
1,035.9
-1.0
2.5
11.5
9.6
4.8
6.3
1.6
-2.9
2.9
-5.7
-5.9
6.2
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.
790.7
357.0
84.3
24.6
59.6
272.8
161.3
111.4
433.7
160.7
21.3
136.5
115.2
47.3
57.9
39.1
855.2
358.3
77.2
24.9
52.3
281.1
170.4
110.8
496.8
182.9
22.1
159.6
132.3
47.9
48.4
39.2
895.2
384.6
80.1
26.9
53.3
304.5
192.1
112.4
510.6
186.6
22.7
165.3
136.1
45.1
48.6
49.7
888.9
377.5
79.5
25.7
53.8
298.1
183.1
115.0
511.4
191.6
22.2
162.7
134.9
48.5
51.0
46.2
888.8
375.1
80.5
26.2
54.4
294.6
180.4
114.2
513.7
193.8
22.7
160.5
136.7'
46.5
52.6
45.1
911.9
384.3
84.4
27.6
56.8
299.9
183.5
116.4
527.6
206.8'
22.4
161.0
137.4'
51.3
52.5
48.8
900.7
370.4
84.5
27.6
56.9
285.9
178.7
107.2
530.3
209.3
22.2
159.6
139.1
56.4
48.1
42.5
899.3
360.4
81.2
24.0
57.3
279.2
178.2
100.9
538.9
212.8
22.5
166.3
137.2
61.3
47.0
38.9
895.1
366.4
86.4
29.2
57.3
280.0
179.7
100.2
528.7
209.1
22.1
166.0
131.5
63.4
43.8
46.6
907.2
364.7
82.7
25.3
57.4
282.0
180.1
101.8
542.5
209.9
22.8
168.6
141.2
61.3
44.8
41.6
894.7
358.2
80.0
22.5
57.5
278.2
178.5
99.7
536.5
210.6
22.6
165.0
138.2
58.5
47.5
34.9
893.8
355.1
79.2
21.8
57.4
275.9
175.3
100.5
538.8
214.8
22.5
164.2
137.2
61.7
49.3
37.4
934.6
990.2
1,038.2
1,034.2
1,032.5
1,064.0
1,047.1
1,045.9
1,048.4
1,054.3
1,035.1
1,041.7
610.5
11.8
598.7
382.4
50.8
331.6
-176.3
115.1
682.4
12.6
669.7
420.2
55.3
364.8
-220.1
104.9
685.1
11.5
673.5
437.2
51.0
386.2
-214.4
127.5
688.5
11.6
676.9
444.5
50.6
393.8
-218.9
117.3
679.2
11.6
667.6
432.6
49.0
383.6
-200.4
118.2
697.7
11.2
686.6
435.0
47.2
387.7
-197.5
125.9
719.0
10.9
708.1
446.4
55.4
390.9
-242.4
121.3
719.6
10.4
709.2
461.7
59.0
402.7
-255.3
117.0
727.6
9.4
718.2
469.5
64.4
405.1
-278.0
126.4
727.9
10.1
717.8
462.7
64.4
398.3
-258.4
119.1
717.9
10.2
707.7
431.1
50.9
386.8
-240.0
116.6
713.5
10.7
702.7
459.8
53.4
406.4
-247.2
112.7
931.8
987.3
1,035.3
1,031.3
1,029.6
1,061.1
1,044.2
1,043.0
1,045.5
1,051.4
1,032.2
1,038.8
2.8
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
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
Oct.
2006
2006
Apr.
May
June
July
Aug.
Sept.
Oct.
Oct. 4
Oct. 11
Oct. 18
Oct. 25
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
90.7
108.5
123.4
111.9
110.8
108.5
104.7
103.7
107.6
101.8
101.1
103.0
82.2
546.7'
415.6
131.1
96.6
604.2'
474.3
129.9
110.6
615.5
483.4
132.1
99.6
619.5'
485.1'
134.4
96.1
625.9
491.6'
134.3
92.3
634.5
501.2
133.3
91.0
613.2'
483.3'
129.9'
91.5
614.1
484.0
130.1
94.0
616.5
483.1
133.4
90.4
611.9
478.6
133.3
91.3
615.5
485.0
130.5
90.2
605.8
476.5
129.2
-8.9
87.3
67.0
20.2
3.2
-19.6
99.5
70.6
28.9
3.0
-21.1
98.7
70.4
28.4
3.0
-22.1
99.3
69.7
29.6
2.9
-20.8
101.4
68.9
32.5
2.7
-14.3
100.2
68.1
32.0
2.4
-10.3
102.2
68.3
33.8
2.3
-7.9
102.1
67.1
35.0
2.3
-7.0
101.9
67.0
34.8
2.3
-9.9
102.3
67.0
35.3
2.3
-8.1
102.0
67.0
35.0
2.3
-8.3
101.9
67.0
34.9
2.3
329.2
265.2
260.9
4.3
326.4
270.6
266.3
4.2
325.9
268.9
264.7
4.1
325.9
273.7
269.7
4.0
324.2
273.2
269.3
3.9
326.0
275.4
271.9
3.5
330.2
278.3
274.8
3.5
332.6
282.8
279.3
3.5
332.2
282.8
279.3
3.5
331.5
281.8
278.3
3.5
332.1
282.8
279.3
3.5
333.0
283.0
279.5
3.5
70.5
64.4
78.2
71.0
71.3
72.7
69.2
67.8
67.5
69.8
69.5
66.1
75.8
68.2
82.8
76.1
76.8
78.9
76.2
75.8
75.1
78.2
77.8
74.4
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
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 • November 2006
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2006
Item
1 All issuers
2 Financial companies'
3 Nonfinancial companies2
2001
2002
2003
2004
2005
Feb.
Mar.
Apr.
May
June
July
1,442,842
1,341,226
1,260,745
1,375,717
1,631,009
1,687,510
1,705,078
1,734,611
1,765,365
1,775,915
1,796,699
563,428
216,448
522,863
147,689
519,731
103,982
595,249
119,727
667,321
132,207
690,883
134,575
692,513
134,245
699,320
140,406
718,125
137,141
704,548
146,789
715,193
142,738
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.
Mar.
May
June
31
28
10
29
7.50
7.75
8.00
8.25
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
Feb
Mar
Apr
May
June
July
Aug
Sept
7.26
7.50
7.53
7.75
7.93
8.02
8.25
8.25
8.25
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
2006
Item
2003
2004
2006, week ending
2005
May
June
July
Aug.
July 28
Aug. 4
Aug. 11
Aug. 18
Aug. 25
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
4.94
5.93
4.99
6.02
5.24
6.25
5.25
6.25
5.24
6.25
5.27
6.25
5.25
6.25
5.23
6.25
5.24
6.25
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
4.95
4.94
5.01
5.12
5.13
5.29
5.24
5.26
n.a.
5.22
5.21
5.21
5.25
5.26
n.a.
5.26
5.25
n.a.
5.21
5.21
n.a.
5.22
5.21
5.23
5.21
5.20
5.22
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
4.99
5.02
5.05
5.16
5.21
5.25
5.28
5.34
5.37
5.26
5.27
5.29
5.30
5.34
5.36
5.30
5.32
5.34
5.27
5.28
5.30
5.24
5.26
5.27
5.24
5.25
5.27
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
5.04
5.15
5.25
5.22
5.35
5.46
5.34
5.46
5.54
5.31
5.38
5.44
5.37
5.45
5.52
5.36
5.43
5.48
5.31
5.38
5.44
5.30
5.37
5.44
5.29
5.36
5.43
12 Eurodollar deposits, 3-month3>s
1.14
1.55
3.51
5.18
5.38
5.49
5.41
5.48
5.45
5.40
5.40
5.40
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
4.61
4.72
4.82
4.62
4.79
4.97
4.80
4.95
5.06
5.08
4.96
4.97
4.89
4.97
5.02
5.06
4.97
4.98
5.07
4.95
4.97
5.07
4.97
4.99
5.08
4.97
4.97
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
5.00
4.97
4.97
5.00
5.03
5.11
5.35
5.16
5.12
5.09
5.07
5.08
5.11
5.29
5.22
5.12
5.07
5.04
5.05
5.09
5.25
5.08
4.90
4.85
4.82
4.83
4.88
5.08
5.17
5.06
5.01
4.98
4.99
5.05
5.21
5.10
4.96
4.90
4.89
4.90
4.96
5.14
5.09
4.93
4.89
4.87
4.88
4.94
5.13
5.10
4.92
4.88
4.85
4.85
4.90
5.11
5.07
4.87
4.80
4.77
4.77
4.81
5.03
4.52
5.20
4.75
4.50
5.09
4.68
4.28
4.86
4.40
4.38
5.02
4.59
4.35
4.96
4.60
4.41
5.05
4.61
4.10
4.72
4.39
4.41
5.05
4.55
4.24
4.87
4.49
4.26
4.87
4.45
4.02
4.63
4.39
4.00
4.61
4.34
6.24
6.00
5.57
6.31
6.29
6.26
6.09
6.23
6.16
6.16
6.11
6.03
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
5.23
5.37
5.59
6.06
5.95
6.13
6.40
6.75
5.89
6.11
6.39
6.78
5.85
6.08
6.36
6.76
5.68
5.91
6.19
6.59
5.82
6.05
6.32
6.72
5.76
5.98
6.25
6.65
5.76
5.98
6.25
6.65
5.70
5.93
6.21
6.61
5.62
5.85
6.13
6.53
1.72
1.64
1.73
1.80
1.88
1.90
1.86
1.92
1.86
1.89
1.85
1.85
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 • November 2006
1.36
STOCK MARKET
Selected Statistics
2006
Indicator
2003
2004
2005
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
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.
8,007.35
n.a.
n.a.
n.a.
n.a.
8,044.86
n.a.
n.a.
n.a.
n.a.
8,174.34
n.a.
n.a.
n.a.
n.a.
8,351.28
n.a.
n.a.
n.a.
n.a.
8,353.45
n.a.
n.a.
n.a.
n.a.
7,985.59
n.a.
n.a.
n.a.
n.a.
8,103.97
n.a.
n.a.
n.a.
n.a.
8,294.89
n.a.
n.a.
n.a.
n.a.
8,383.29
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
965.23
1,130.65
1,207.23
1,278.72
1,276.65
1,293.74
1,302.18
1,290.00
1,253.12
1,260.24
1,287.15
1,317.81
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
943.44
1,260.02
1,567.52
1,815.91
1,828.06
1,902.69
1,976.03
1,968.30
1,881.59
1,924.93
1,996.50
1,950.11
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1 361 043 1 403 376 1 542 724 1,808,726 1 660 932 1 728 333 2 285 601 2 510157 2 501 759 2 351 792 2 201 576 2 446 458
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
232,190
222,780
236,670
241,540
230,540
225,780
231,490
226,480
237,120
92,560
84,920
117,850
93,580
119,710
88,730
115,220
83,250
117,970
81,600
119,360
82,750
119,020
83,000
126,210
81,090
137,550
84,400
141,000
79,420
139,290
79,460
142,580
80,470
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
1.40
25
FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2004
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
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
7,298.6
7,403.2
7,620.4
7,801.0
7,860.2
7,956.3
8,194.3
8,394.7
8,443.7
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
8,371.2
4,872.8
3,498.4
8,420.0
4,797.4
3,622.6
24.2
24.2
.0
24.2
23.7
.4
24.3
23.9
.4
24.1
24.1
.0
23.7
23.7
.0
23.6
23.6
.0
23.8
23.8
23.6
23.6
23.6
23.6
7,871.0
8,107.0
8,281.5
8,330.6
7,229.2
.1
7,333.2
.2
7,535.5
.2
7,715.4
.1
7,778.0
.1
7,870.9
.1
8,106.9
8,281.4
8,330.6
7,384.0
7,384.0
8,184.0
8,184.0
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
16
17
18
19
20
21
22
23
24
25
26
27
28
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^
U.S. Treasury and other federal agencies and trust funds
Federal Reserve Banks8
Private investors
Depository institutions
Mutual funds
Insurance companies
State and local treasuries7
Individuals
Savings bonds
Pension funds
Private
State and Local
Foreign and international5
Other miscellaneous investors7'9
6,405.7
6,998.0
7,596.1
8,170.4
6,391.4
6,982.0
3,205.1
3,575.1
7,578.5
3,959.7
8,117.0
4,184.0
888.8
1,580.8
588.7
146.9
3,186.3
928.8
1,905.7
564.3
1,003.2
2,157.1
Q3
Q4
Ql
Q2
7,913.7
4,084.8
914.3
2,328.7
520.6
8,117.0
4,184.0
8,351.7
4,340.4
1,042.1
8,400.2
4,354.9
916.7
2,427.4
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
184.8
2,806.9
3,406.9
149.2
9.7
9.7
.0
192.2
3,007.0
14.3
16.0
17.6
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
2 757.8
629.4
3,018.5
222.8
278.8
139.7
351.5
2,955.1
666.7
3,377.9
154.0
279.6
136.5
358.8
3,189.1
717.8
3,667.1
128.1
253.1
149.2
385.8
3,466.9
744.2
3,970.6
117.2
252.2
172.2
454.6
3,334.1
736.4
3,864.9
125.0
245.0
171.6
446.5
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
306.3
179.9
126.4
2,041.1
455.8
203.6
302.0
179.4
122.6
2,069.0
311.5
153.4
11.2
11.2
.0
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.
176.2
539.5
245.9
3,618.8
160.7
5.9
5.9
.0
191.7
3,230.6
307.1
3,828.9
225.3
3.1
3.1
.0
2,409.7
526.7
347.9
4,030.8
234.8
3.4
3.4
.0
192.0
523.1
19.5
372.8
4,166.0
242.0
3.0
3.0
.0
191.0
3,680.2
120.8
3,466.9
744.2
3,970.6
117.2
252.2
172.2
454.6
3,502.0
758.5
4,114.0
115.4
249.3
162.9
457.9
3,626.6
766.4
4,030.8
116.8
242.9
164.5
467.2
205.1
306.3
179.9
126.4
2,041.1
455.8
205.9
314.6
184.4
130.2
2,082.3
509.4
205.2
318.8
191.4
127.4
2,091.7
n.a.
3,551.2
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 • November 2006
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2006
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
May
June
2006, week end
July
July 5
July 12
July 19
July 26
Aug. 2
Aug. 9
Aug. 16
Aug. 23
Aug. 30
42,416
42,972
42,201
41,756
40,620
37,926
46,714
44,734
45,429
44,181
42,981
54,032
245,729
207,051
193,286
201,850
150,338
214,799
203,680
205,980
258,362
167,057
138,826
188,613
126,490
118,620
117,609
127,542
99,936
118,301
115,930
142,088
124,590
92,998
90,294
106,704
131,419
29,525
7,094
111,273
25,452
6,016
96,619
22,304
9,305
93,576
21,768
5,885
97,540
23,356
6,953
102,845
22,366
11,175
91,277
19,293
10,884
95,639
25,821
9,754
139,737
27,377
9,172
127,942
34,877
8,838
111,819
24,722
5,009
101,159
22,082
8,075
59,473
60,948
56,650
72,814
54,751
56,320
53,742
54,435
48,768
47,328
51,765
54,975
9,503
8,057
7,982
7,943
7,732
7,236
7,556
10,378
11,290
9,271
6,170
5,455
3,254
5,873
4,406
4,115
2,584
5,076
6,331
3,312
3,654
2,520
6,541
2,844
2,878
334
3,904
282
3,342
709
3,772
294
5,579
437
2,566
1,516
1,973
302
2,899
771
3,370
1,071
6,740
289
3,762
375
2,814
354
217,762
208,046
222,666
143,206
361,801
176,320
176,361
198,169
370,326
257,228
207,777
158,793
221,935
23,389
213,965
22,905
205,637
18,529
216,118
14,406
210,551
17,165
191,566
18,870
204,873
19,834
215,183
20,810
248,606
20,087
219,294
19,981
207,272
20,223
191,619
16,171
263,421
227,386
213,162
210,088
193,351
232,932
210,924
219,009
264,936
197,384
182,398
193,852
5,898
51,989
413
5,428
48,851
362
5,561
56,456
418
5,133
27,901
258
5,105
100,235
384
6,037
53,815
458
5,630
34,778
475
5,700
43,059
421
6,789
87,046
448
5,061
68,199
437
5,513
47,477
452
4,336
31,338
444
319,252
283,999
268,161
282,290
225,391
274,480
276,853
305,006
339,731
278,509
231,253
286,814
69,544
165,774
244,912
73,636
159,195
236,507
67,527
166,211
223,748
83,805
115,305
230,267
65,978
261,566
227,332
66,677
122,505
209,978
64,275
141,583
224,232
66,094
155,110
235,572
61,362
283,280
268,245
61,087
189,030
238,839
63,100
160,300
227,043
62,106
127,455
207,345
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
2006, week ending
2006
Item, by type of security
May
June
July
July 5
July 12
July 19
July 26
Aug. 2
Aug. 9
Aug. 16
Aug. 23
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
-14,690
-21,412
-19,218
-25,334
-18,222
-23,302
-15,771
-13,603
-9,957
-6,549
-3,927
-41,969
-34,485
-38,728
-38,149
-36,547
-42,711
-37,363
-38,697
-28,818
-35,315
-39,120
-42,707
-35,657
-38,002
-38,863
-39,086
-36,030
-38,775
-37,302
-33,383
-35,759
-38,279
-37,581
-16,693
1,653
-39,886
-16,297
1,007
-41,469
-13,276
501
-42,016
-16,397
127
-43,916
-11,788
-822
-42,201
-13,691
850
-38,289
-12,100
1,660
-40,925
-13,304
616
-35,102
-14,162
-1,351
-33,732
-11,577
-2,793
-34,502
-12,948
-3,169
52,218
49,670
40,607
42,317
45,322
34,285
40,779
40,905
37,549
42,637
46,181
38,257
42,731
41,372
44,645
44,771
40,618
40,803
35,193
37,526
36,171
33,552
12,673
13,858
13,590
12,875
12,771
13,574
14,735
13,869
12,312
11,785
12,837
3,723
7,027
4,963
7,567
6,248
8,327
6,836
7,979
7,534
7,867
6,321
8,594
5,602
8,498
4,663
8,708
2,330
8,321
4,138
8,161
4,227
8,363
37,865
36,829
32,666
40,068
34,093
31,463
30,654
27,766
30,893
27,802
30,598
38,812
159,780
41,588
134,766
41,943
139,702
38,645
142,721
33,963
141,045
45,002
136,133
45,936
137,316
46,539
143,140
45,849
145,331
42,794
147,263
37,078
146,130
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
1,303,786
1,132,988
1,278,869
1,173,745
1 282 047
974,766
1 287 534
852,059
1 281 734
933,544
1 270 110
998,245
1 268 950
1,052,484
1 312 042
1,013,511
1 303 649
1,040,804
1 289 687
926,612
1 301 197
975,144
190,257
224,086
195,306
238,865
190,837
211,048
192,509
191,135
192,108
208,781
183,086
221,835
194,241
219,636
193,469
207,009
206,967
193,846
210,975
204,242
205,829
215,889
117,786
384,359
124,683
391,005
129,655
377,443
129,673
374,638
124,871
377,570
131,406
384,869
135,193
384,643
126,130
359,594
139,680
361,948
136,848
363,933
144,702
376,125
111,356
95,587
113,302
90,627
113,378
91,896
116,216
88,624
113,531
91,211
112,956
91,377
112,891
92,987
111,600
95,326
111,678
96,427
109,913
96,934
108,288
97,208
835,023
1 487 485
822,752
1 552 385
804,846
1 303 600
814,450
1 179 783
799,555
1 263 116
795,479
1 338 091
801,146
1 388 202
820,945
1 317 363
816,307
1 340 726
831,609
1 222 963
853,637
1 284 342
1 213 054
999,245
1 211 080
1,020,507
1 232 418
801,923
1 230 340
683,248
1 222 901
760,098
1 231 732
821,343
1 217 653
882,657
1 269 450
838,938
1 261 141
870,168
1 280 920
734,617
1 277 036
786,084
321,146
173,310
332,648
181,703
331,064
145,879
318,502
142,891
340,200
142,965
322,175
149,186
335,589
155,280
336,945
135,156
342,427
129,565
336,306
141,868
348,543
146,527
517,720
249,114
526,341
235,898
554,137
211,969
537,366
211,206
532,800
210,459
569,106
225,044
571,600
214,316
555,373
193,254
559,079
203,933
589,512
210,890
569,141
219,073
266,573
55,916
270,947
52,763
281,880
48,717
286,411
46,485
276,541
48,061
283,275
47,716
277,808
50,833
288,574
50,308
281,018
48,556
285,100
49,193
277,269
49,090
2,063,970
1,391,241
2,080,953
1,409,984
2,116,218
1,127,579
2,097,364
1,003,723
2,096,263
1,082,716
2,126,409
1,161,786
2,105,869
1,223,234
2,163,228
1,132,436
2,158,155
1,167,204
2,204,757
1,053,685
2,196,202
1,117,044
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 • November 2006
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Agency
Apr.
1 Federal and federally sponsored agencies
2 Federal agencies
3
Defense Department1
4
Export-Import Bank2-3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service1"
8
Tennessee Valley Authority
9
United States Railway Association1"
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
2,351,039
n.a.
25,412
6
n.a.
290
n.a.
> ,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
n.a.
n.a.
25,406
n.a.
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
n.a.
24,267
6
24,261
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
23,843
6
n.a.
161
n.a.
n.a.
23,837
n.a.
n.a.
921,793
773,600
754,535
113,021
91,929
8,170
1,261
29,996
n.a.
23,454
6
23,590
6
n.a.
23,371
6
23,583
6
23,647
6
n.a.
87
23,448
918,457
776,600
750,240
115,147
90,468
8,170
1,261
29,996
n.a.
n.a.
23,584
n.a.
23,365
n.a.
918,162
797,500
766,905
116,411
90,446
8,170
1,261
29,996
904,531
806,000
780,572
117,950
n.a.
8,170
1,261
29,996
n.a.
n.a.
23,577
n.a.
23,641
n.a.
919,361
8,313,000
n.a.
120,362
n.a.
8,170
1,261
29,996
MEMO
19 Federal Financing Bank debt"
20
21
22
23
24
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service1"
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association1"
Other lending*4
25 Farmers Home Administration . . . .
26 Rural Electrification Administration
27 Other
37,017
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
14,489
22,528
n.a.
16,127
14,684
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.
28^25
28,421
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
18,515
n.a.
9,810
18,826
n.a.
9,595
29,679
n.a.
n.a.
n.a.
n.a.
n.a.
18,736
n.a.
10,943
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
Apr.
May
July'
1 All issues, new and refunding1
384,311
357,875
409,502
20,234'
23,867
28,181
29,657'
34,160'
44,599
27,403
31,682
By type of issue
2 General obligation
3 Revenue
144,056
238,204
130,471
227,404
145,968
263,534
7,410'
12,823
9,160
14,707
9,637
18,545
7,113'
22,544'
9,627
24,533'
12,223
32,376
6,841
20,562
10,894
20,788
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township . . .
49,795
253,536
78,962
47,365
234,237
76,273
31,568
298,506
79,429
1,170
14,569
4,495'
1,684
18,548
3,634
2,767
20,959
4,456
1,311
22,540'
5,807
2,150
25,822'
6,188
3,224
35,669
5,706
2,252
19,691
5,460
2,113
22,127
7,443
7 Issues for new capital
264,697
228,357
223,720
12,157
15,118
17,808
19,721
23,677
34,083
22,495
19,635
70,394
23,809
10,251
n.a.
22,339
97,736
65,426
20,546
9,242
n.a.
19.050
80,438
70,963
25,268
9,899
n.a.
18.721
60,645
3,620
1,890
250
n.a.
1.470
3,126
3,211
1,803
411
n.a.
2.051
6,166
4,928
477
908
n.a.
2.454
5,564
5,480
2,306
794
n.a.
1.959
4,481
7,310
1,762
306
n.a.
2.159
6,547
8,240
3,492
843
n.a.
4.144
11,611
4,323
7,096
1,506
278
n.a.
2.316
6,123
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
4,011
8,247
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
2003
2004
2006
2005
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
1,815,569
2,070,680
2,438,989
242,978
188,865
211,135
260,482
180,232
251,880
279,027
132,531
1,692,260
1,923,094
2,323,735
232,645
180,827
204,973
247,142
172,401
239,524
269,135
125,606
1,579,311
112 949
1,737,342
185 752
2,141,496
182 238
209.801
22 844
163.400
17 428
189.807
15 166
221.356
25 787
155.724
16 676
213,104
26 420
241,092
28 043
119,315
6 291
20,701
21,942
22,221
2.816
1,184
985
1.959
1.763
2,603
362,340
1,329,920
259,968
1,663,127
216,072
2,107,662
20,936
211,709
32,935
147,893
25,099
179,874
29,320
217,822
27,064
145,336
33,141
206,383
28,556
240,579
11,624
113,982
182,132
147,585
115,255
10,333
8,037
6,162
13,339
7,831
12,356
9,892
6,925
123,309
58,823
147,585
n.a.
115,255
n.a.
10,333
n.a.
8,037
n.a.
6,162
n.a.
13,339
n.a.
7,831
n.a.
12,356
n.a.
9,892
n.a.
6,925
n.a.
44,416
78,893
64.345
83,240
54.713
60,541
7.375
2,958
5.713
2,324
4.238
1,924
6.839
6,500
3.301
4,530
6.008
6,348
5.341
4,551
1.990
4,934
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.
n.a.
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 • November 2006
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2006
Item
2004
2005'
Feb.
Mar.
Apr.
May
June
July
Aug.r
Sept.
1 Sales of own shares2
1,660,423
1,758,962
165,338
194,323
171,541
189,316
152,341
134,662
150,952
143,288
2 Redemptions of own shares
1,450,319
210,104
1,567,360
191,602
128,504
36,834
154,083
40,240
143,954
27,587
188,859
457
161,790
-9,449
130,809
3,853
139,022
11,930
131,585
11,703
6,193,664
6,864,636
7,169,845
7,313,245
7,460,010
7,236,296
7,228,283
7,235,158
7,395,128
7,511,938
304,816
5,888,848
303,068
6,561,568
333,544
6,836,301
330,511
6,982,734
353,879
7,106,131
354,156
6,882,140
348,534
6,879,749
340,109
6,895,049
356,042
7,039,086
353,822
7,158,116
4 Assets
4
5 Cash5
6 Other
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51
DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE: Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2005
2004
2006
Q4
Q1
Q2
Q3
Q4
Q1
Q2
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
1 284 0
472.1
441.7
370.2
1 494 0
566.5
451.5
476.0
1 622 4
601.8
479.2
541.4
1 494 0
566.5
451.5
476.0
1 499 0
569.3
447.9
481.8
1 521 9
575.2
455.6
491.1
1 547 5
590.7
451.0
505.8
1 622 4
601.8
479.2
541.4
1 634 7
591.3
482.8
560.6
1 673 2
604.5
496.4
572.3
55.2
25 0
53.0
26 3
44.7
24 5
53.0
26 3
52.2
24 6
51.6
24 2
45.4
26 6
44.7
24 5
44.3
23 4
45.2
23 5
1 203 7
694.1
1 414 7
673.8
1 553 2
535.7
1 414 7
673.8
1 422 2
653.2
1 446 1
664.6
1 475 5
537.4
1 553 2
535.7
1 566 9
526.9
1 604 5
500.7
1,897.8
2,088.5
2,088.8
2,088.5
2,075.4
2,110.7
2,012.9
2,088.8
2,093.8
2,105.3
106.9
145.1
136.9
175.3
142.1
160.0
136.9
175.3
133.3
161.2
129.9
148.8
138.8
146.0
142.1
160.0
137.4
151.0
137.5
152.7
202.8
743.2
475.6
224.1
257.7
817.4
471.8
229.4
312.2
806.5
423.6
244.4
257.7
817.4
471.8
229.4
254.4
849.5
443.4
233.7
260.0
865.1
457.2
249.7
271.0
753.8
497.2
206.2
312.2
806.5
423.6
244.4
318.1
812.6
426.6
248.1
326.7
833.9
418.2
236.4
1,897.8
2,088.5
2,088.8
2,088.5
2,075.4
2,110.7
2,012.9
2,088.8
2,093.8
2,105.3
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
Apr.
July
Seasonally adjusted
2
3
4
Consumer .
Real estate
Business . .
1,613.7
1,783.9
1,898.1
679.0
400.2
534.5
736.4
500.5
547.0
773.0
564.1
561.0
1,981.7
1,954.7
780.0
588.6
562.7
784.7
597.9
562.5
788.8
599.2
566.7
792.4
602.4
573.2
799.0
598.8
577.7
806.1
598.1
577.5
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'
1,624.1
1,795.4
1,910.9
686.1
250.1
79.0
45.3
97.7
743.9
298.3
74.1
50.4
143.7
781.4
278.0
85.3
66.3
172.3
777.0
267.7
89.1
64.8
168.9
778.8
267.2
91.7
63.7
168.6
782.6
267.1
93.8
65.3
170.9
785.4
258.5
95.0
67.5
172.7
792.1
262.8
97.8
69.5
174.5
799.5
265.1
99.4
70.5
176.1
123.7
5.5
33.8
51.0
400.6
320.2
50.0
98.2
4.8
23.1
51.3
501.3
422.0
54.0
112.6
4.2
14.9
47.8
565.0
489.8
51.6
116.9
4.1
14.4
51.0
586.1
511.0
51.9
115.4
4.0
15.4
52.7
583.3
507.9
52.7
113.6
4.0
15.3
52.6
591.2
515.1
53.6
119.9
3.9
15.3
52.5
598.4
521.7
54.4
116.2
3.9
15.1
52.4
594.2
517.4
54.9
117.6
3.8
14.6
52.3
601.9
525.1
55.0
26.7
3.8
537.4
69.6
15.7
39.3
14.6
284.3
88.0
196.3
87.8
21.8
3.5
550.2
84.8
15.1
44.9
24.8
273.4
87.8
185.6
93.3
18.9
4.8
564.5
105.5
15.2
61.2
29.0
281.9
93.6
188.3
91.8
18.4
4.8
562.9
106.8
15.7
62.3
28.8
281.9
95.2
186.6
89.7
18.2
4.5
568.9
110.2
16.0
65.0
29.3
284.4
97.3
187.1
88.2
17.9
4.5
572.7
108.9
16.1
63.4
29.3
288.7
100.1
188.6
89.3
17.8
4.5
579.3
110.1
16.2
64.5
29.3
291.6
101.5
190.1
92.1
17.5
4.3
584.2
112.8
16.7
65.8
30.3
291.7
101.3
190.4
91.9
17.5
4.3
569.9
103.5
16.9
56.4
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
28.8
2.7
26.0
.1
24.4
11.6
12.8
32.2
29.8
2.7
27.0
.1
22.7
10.0
12.8
32.1
35.6
2.6
32.9
.1
15.7
9.7
6.0
34.7
35.9
2.6
33.1
.1
15.4
9.4
6.0
34.6
35.7
2.6
33.0
.1
15.2
9.2
6.0
34.6
36.7
2.6
34.0
.1
16.8
10.9
5.9
34.3
33.9
2.6
31.2
.1
16.4
10.5
5.9
34.4
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
1,946.5
1,971.4
289.1
102.1
187.0
92.7
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 • November 2006
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2006
Item
2003
2004
2005
Mar.
Apr.
May
June
July
Aug.
Sept.
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
341.8
254.8
76.4
29.7
.59
335.0
248.2
76.5
29.5
.63
350.0
255.4
75.2
29.5
.65
355.5
258.5
75.0
29.4
.70
346.0
253.2
75.5
29.2
.67
343.1
248.9
74.8
29.5
.69
347.6
255.8
75.3
29.7
.76
5.71
5.80
n.a.
5.68
5.75
n.a.
5.86
5.93
n.a.
6.45
6.53
n.a.
6.55
6.64
n.a.
6.60
6.69
n.a.
6.69
6.79
n.a.
6.71
6.81
n.a.
6.77
6.87
n.a.
6.61
6.72
n.a.
n.a.
5.03
n.a.
5.19
n.a.
5.13
n.a.
5.59
n.a.
5.84
n.a.
5.99
n.a.
6.08
n.a.
6.10
n.a.
5.81
n.a.
5.63
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.
727,545
n.a.
n.a.
721,544
n.a.
n.a.
730,367
n.a.
n.a.
733,786
n.a.
n.a.
730,906
n.a.
n.a.
731,439
n.a.
n.a.
726,801
n.a.
n.a.
725,530
n.a.
n.a.
14 Mortgage transactions purchased (during period)
572,852
262,646
146,641
14,165
23,042
18,704
18,697
15,133
15,927
20,180
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.
715,407
n.a.
n.a.
723,774
n.a.
n.a.
723,068
n.a.
n.a.
722,209
n.a.
n.a.
711,018
n.a.
n.a.
706,979
n.a.
n.a.
702,448
n.a.
n.a.
n.a.
713,260
n.a.
365,148
n.a.
397,867
n.a.
26,769
n.a.
26,620
n.a.
25,446
n.a.
28,907
n.a.
30,857
n.a.
31,893
n.a.
30,584
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
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
Q2
Q3
Q4
Q1
Q2>
8,368,137
9,374,760
10,677,150
11,320,160
11,750,270
12,146,150
12,446,890
12,756,650
6,374,707
484,885
1,383,038
125,507
7,175,012
555,467
1,510,698
133,583
8,243,608
608,572
1,683,264
141,710
8,744,214
640,165
1,789,538
146,241
9,087,367
658,067
1,856,503
148,337
9,380,399
679,767
1,938,082
147,902
9,608,400
694,034
1,993,993
150,461
9,838,021
703,388
2,060,561
154,676
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
4,183,512
2,791,830
1,695,436
129,102
921,065
46,227
1,113,291
921,971
95,058
95,658
604
278,391
5,082
41,213
218,065
14,031
4,317,224
2,895,448
1,750,876
135,547
961,886
47,139
1,140,910
946,883
96,732
96,690
605
280,866
5,122
41,585
220,005
14,154
4,394,767
2,956,572
1,774,348
140,121
994,513
47,590
1,152,732
954,974
98,168
98,974
616
285,463
4,585
42,440
224,258
14,180
4,505,599
3,024,873
1,803,974
145,471
1,026,978
48,450
1,192,401
990,190
100,112
101,423
676
288,325
4,632
42,822
226,545
14,326
4,642,797
3,131,205
1,870,311
147,213
1,063,834
49,847
1,221,017
1,013,538
102,198
104,585
697
290,575
4,669
43,156
228,309
14,441
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
553,433
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
2
6
0
249,684
219,338
30,346
54,769
3,223
51,546
60,986
21,736
39,250
838
838
554,997
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
2
5
0
255,006
219,279
35,727
54,640
3,215
51,425
61,481
20,396
41,085
804
804
555,852
32
32
0
73,575
12,976
11,451
45,954
3,193
4,626
1,396
3,231
0
0
0
0
0
6
1
1
4
0
255,028
219,301
35,727
55,233
3,250
51,983
62,935
20,878
42,057
787
787
557,975
31
31
0
75,097
12,975
11,423
47,499
3,200
4,830
1,615
3,215
0
0
0
0
0
4
1
1
7
0
249,515
222,535
26,980
52,793
3,106
49,687
61,360
23,389
37,971
887
887
552,763
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
2
5
0
251,627
218,347
33,280
55,489
3,265
52,224
61,207
20,903
40,304
832
832
0
0
0
796,364
489,240
58,743
248,381
0
367
367
4,457,045
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
967,920
610,290
66,620
291,010
0
1,003
1,003
4,959,720
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
1,417,547
1,007,730
72,998
336,819
0
938
938
5,273,327
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
0
1,705,458
1,250,013
78,981
376,465
0
875
875
5,521,957
411,338
378,109
33,229
1,279,664
1,261,865
17,799
1,924,810
1,847,818
76,992
0
0
0
0
0
1,905,310
1,429,201
81,559
394,550
0
835
835
5,780,012
405,246
371,484
33,762
1,330,795
1,312,284
18,511
1,940,079
1,862,476
77,603
0
0
0
0
0
2,103,057
1,581,158
89,494
432,405
0
835
835
5,929,939
403,236
368,823
34,413
1,375,148
1,356,020
19,128
1,972,793
1,893,881
78,912
0
0
0
0
0
2,177,463
1,638,872
91,314
447,278
0
1,298
1,298
6,067,118
405,848
370,882
34,966
1,400,955
1,381,468
19,487
2,005,027
1,924,826
80,201
0
0
0
0
0
2,253,476
1,692,865
93,655
466,956
0
1,813
1,813
890,170
676,650
76,030
112,660
24,830
993,409
765,049
79,200
122,736
26,424
1,237,935
994,138
83,737
132,040
28,021
1,309,887
1,060,632
85,049
135,323
28,883
1,358,330
1,103,658
86,178
139,194
29,300
1,416,374
1,156,528
87,898
142,714
29,235
1,455,499
1,190,559
89,381
145,813
29,747
1,488,756
1,219,266
89,561
149,377
30,552
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
3,954,968
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.
255,050
219,323
35,727
56,674
3,335
53,339
63,704
21,133
42,571
787
787
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 • November 2006
1.55 CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
Holder and type of credit
Apr.
May
Seasonally adjusted
770,497'
1,318,251'
2 Revolving . . .
3 Nonrevolving2
2,204,132'
2,294,326'
800,966'
1,403,166'
825,163'
1,469,163'
2,306,712'
2,315,687'
824,235'
1,482,477'
827,190'
1,488,497'
824,860'
1,482,321'
2,345,672'
2,358,370
836,265'
1,495,834'
845,103'
1,500,570'
849,805
1,508,565
Not seasonally adjusted
2,117,037'
2,233,938'
2,325,278'
2,307,916'
2,293,924'
2,304,074'
2,318,279'
2,328,789'
2,340,817
669,386
393,044
205,877
114,658
77,850
58,491'
597,732'
704,270
492,346
215,384
98,363
91,271
58,525'
573,779'
707,039
516,534
228,588
102,122
109,078
58,600'
603,318'
696,350
501,444
227,935
104,449
109,974
55,538'
612,226'
697,480
499,555
227,343
104,469
98,058
54,912'
612,108'
704,643
503,343'
229,458
104,426
99,327
53,662'
609,215'
713,077
498,677
230,466
104,082
100,637
53,174'
618,166'
694,734
506,755
230,434
102,635
101,906
52,639'
639,686'
699,365
513,661
231,937
101,550
102,199
51,701
640,403
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
791,252'
285,015
45,266
22,410
n.a.
23,848
14,505'
400,208'
823,373'
314,649
50,382
23,244
n.a.
27,905
11,740'
395,453'
848,342'
311,204
66,307
24,688
n.a.
40,755
10,841'
394,546'
824,086'
289,424
64,802
23,489
n.a.
40,035
10,484'
395,852'
814,883'
281,128
63,747
23,324
n.a.
39,656
10,280'
396,748'
822,380'
287,984
65,316
23,782
n.a.
40,237
8,897'
396,164'
831,245'
292,858
67,466
24,277
n.a.
40,837
8,099'
397,709'
840,527'
291,029
69,467
24,706
n.a.
41,418
7,612'
406,296'
844,343
295,277
70,493
25,113
n.a.
41,713
6,651
405,097
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
1,325,785'
384,371
347,778
183,467
114,658
54,002
43,986
197,523'
1,410,565'
389,621
441,964
192,140
98,363
63,366
46,786
178,327'
1,476,936'
395,835
450,226
203,900
102,122
68,323
47,759
208,771'
1,483,831'
406,926
436,642
204,446
104,449
69,939
45,054
216,374'
1,479,041'
416,352
435,809'
204,019
104,469
58,402
44,632'
215,359'
1,481,694'
416,660
438,027
205,676
104,426
59,090
44,765'
213,051'
1,487,034'
420,219
431,211
206,189
104,082
59,800
45,075'
220,457'
1,488,262'
403,705
437,288
205,728
102,635
60,488
45,027'
233,390'
1,496,474
404,088
443,168
206,824
101,550
60,486
45,050
235,306
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.
3. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
4. Totals include estimates for certain holders for which only consumer credit totals are
available.
1.56 TERMS OF CONSUMER CREDIT1
Percent per year except as noted
2006
Item
2003
2004
2005
Jan.
Feb.
Mar.
Apr.
May
June
July
INTEREST RATES
Commercial banks2
1 48-month new car
2 24-month personal
6.93
11.95
6.60
11.89
7.08
12.05
n.a.
n.a.
7.39
12.18
n.a.
n.a.
n.a.
n.a.
7.60
12.58
n.a.
n.a.
n.a.
n.a.
Credit card plan
3 All accounts
4 Accounts assessed interest
12.30
12.73
12.71
13.21
12.51
14.54
n.a.
n.a.
13.30
14.38
n.a.
n.a.
n.a.
n.a.
13.16
14.77
n.a.
n.a.
n.a.
n.a.
3.40
9 72
4.36
8 96
5.46
9 03
5.13
8 64
5.54
9 41
5.35
9 17
5.59
9 44
5.96
9 62
5.30
9 56
2.07
9 66
61.4
57 5
60.5
56 8
60.0
57 6
62.6
57 9
61.8
57 7
61.1
57 7
60.9
57 5
61.0
57 6
61.2
57 5
66.5
57 5
95
100
89
100
88
98
88
98
90
98
91
98
91
98
91
99
89
99
96
96
26,295
14,613
24,888
15,136
24,133
16,228
24,522
16,894
24,766
16,303
25,490
16,599
24,986
16,567
24,788
16,645
26,126
16,817
28,052
16,652
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
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Nonfinancial sectors
1,143.1
1,381.3
1,688.2
1,996.9
2,182.8
2,254.9
2,038.6
2,453.3
2,505.9
2,525.4
48.1
-294.9
-1.0
23.6
162.6
95.0
77.4
558.0
418.8
26.6
105.6
7.0
181.1
-83.0
-5.1
-.5
122.8
347.7
-87.2
4.4
687.7
529.5
40.3
110.2
7.7
156.4
-57.9
257.1
.5
159.4
132.3
-106.6
15.7
872.8
734.0
36.8
94.3
7.6
108.0
-35.1
398.4
-2.4
137.6
158.3
-77.7
5.5
998.2
800.4
70.0
119.8
8.0
105.5
16.8
362.5
-.6
130.5
77.7
12.5
20.4
1,262.4
1,054.6
48.4
151.3
8.1
114.6
-24.3
326.7
.3
140.9
138.3
97.8
73.5
1,299.4
1,068.6
55.8
169.0
5.9
130.3
49.8
570.4
-.7
188.2
34.3
108.4
76.3
1,126.3
901.8
51.4
167.7
5.3
101.8
5.8
26.5
-1.4
148.1
30.1
212.2
73.6
1,434.7
1,133.7
78.7
210.8
11.5
109.0
2.8
264.2
-.4
237.3
99.6
39.5
40.3
1,669.8
1,323.3
65.7
272.4
8.5
100.1
-89.9
368.1
.8
205.6
75.5
188.2
119.2
1,593.1
1,188.7
93.0
311.9
-.5
45.3
42.1
532.5
-1.0
77.5
213.5
263.5
48.3
1,289.9
1,002.8
53.9
222.6
10.6
59.0
40.1
-116.4
.2
160.0
207.3
136.6
14.2
1,155.1
859.2
44.2
236.5
15.3
153.2
580.2
550.1
341.9
196.8
11.3
15.5
-295.9
655.2
387.8
215.1
162.2
10.5
105.7
-5.6
808.4
171.4
15.5
148.0
7.8
143.9
257.6
986.0
185.9
81.8
96.5
7.7
120.3
396.0
1,093.4
426.2
175.2
239.6
11.5
115.3
361.9
1,192.8
535.7
240.0
286.6
9.1
127.3
327.0
1,017.5
501.1
284.8
212.0
4.4
166.5
569.7
1,284.3
602.0
248.0
336.1
17.9
127.2
25.1
1,325.4
647.5
309.2
316.7
21.6
216.5
263.9
1,338.4
622.9
258.7
357.8
6.4
175.7
368.9
1,135.9
793.1
466.9
297.3
28.9
65.0
531.5
1,096.8
646.5
364.0
257.7
24.8
123.4
-116.1
22 Foreign net borrowing in United States
63.0
-13.7
92.9
31.7
123.5
299.1
56.2
84.5
84.7
113.3
111.5
100.7
23
24
25
26
31.7
21.2
11.4
-1.3
15.8
-18.5
-7.3
-3.8
58.3
31.6
5.3
-2.3
12.9
28.7
-7.7
-2.1
62.8
61.8
2.5
-3.6
203.3
80.4
18.5
-3.1
6.2
41.3
12.1
-3.4
10.0
84.4
-5.3
-4.6
78.5
8.5
5.2
-7.4
59.1
17.9
39.5
-3.1
62.6
50.6
7.7
-9.3
-58.9
139.1
27.4
-6.9
1,129.4
1,474.2
1,719.9
2,120.3
2,481.9
2,311.1
2,123.0
2,538.0
2,619.2
2,636.9
1 Total net borrowing by domestic nonfinancial sectors
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
15
16
17
18
19
20
21
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total domestic plus foreign
912.9
Financial sectors
937.8
866.9
1,008.8
876.7
1,010.4
714.4
1,170.7
772.9
1,490.4
1,109.5
1,342.0
131.7
235.2
199.7
160.2
7.0
42.5
4.9
-27.4
304.1
338.5
276.1
18.7
25.5
2.2
-63.8
219.8
326.8
348.0
21.1
6.8
8.2
-52.9
243.7
330.5
455.1
-7.2
31.2
8.3
55.1
65.0
53.0
569.6
33.5
74.1
26.3
107.6
-45.5
-51.5
830.8
37.4
89.4
42.1
180.1
-209.6
47.3
618.2
16.8
38.8
22.7
301.5
-84.2
136.6
754.4
-44.3
87.4
19.3
243.5
-243.9
163.4
535.6
29.4
25.2
19.9
219.3
200.9
191.8
827.1
35.0
25.9
-9.6
261.4
144.8
327.6
326.6
9.6
16.7
22.9
308.5
299.5
307.5
405.8
-36.5
44.6
12.7
60.0
27.3
.0
-.7
235.2
199.7
156.6
86.4
2.6
15.6
-1.6
52.9
-2.0
1.5
.6
304.1
338.5
225.5
10.9
3.2
1.4
1.1
49.7
-23.4
2.0
2.0
219.8
326.8
177.2
66.2
24.5
-1.7
23.7
49.2
6.1
2.2
2.9
243.7
330.5
210.5
111.0
31.9
6.4
14.4
77.7
64.4
2.3
3.0
65.0
53.0
328.5
134.4
98.4
15.2
34.6
68.6
93.9
6.1
9.7
-45.5
-51.5
375.3
260.3
220.7
-26.6
99.4
149.3
-4.9
1.5
-1.6
-209.6
47.3
432.3
108.7
73.0
11.2
107.1
47.1
49.4
3.1
2.3
-84.2
136.6
688.7
-27.2
92.8
-5.2
267.1
82.8
6.9
.3
.4
-243.9
163.4
719.9
-150.2
66.0
28.0
99.4
61.2
13.4
8.1
.6
200.9
191.8
804.4
202.2
2.4
-33.4
38.9
62.5
9.6
-.2
2.8
144.8
327.6
301.3
22.5
66.6
35.1
137.0
195.0
-24.7
6.9
1.3
299.5
307.5
360.1
50.8
55.3
4.7
85.6
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
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
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
36
Federal Reserve Bulletin Statistical Supplement • November 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
Q4
Qi
Q2
Q3
Q4
Qi
Q2
47 Total net borrowing, all sectors . . . .
1,693.9
2,067.2
2,341.1
2,728.7
2,997.0
3,492.4
3,025.5
3,293.7
3,311.0
4,109.5
3,746.4
3,193.2
48
49
50
51
52
53
54
55
56
211.6
-294.9
433.9
23.6
343.9
113.3
118.6
562.8
181.1
-94.5
-5.1
642.1
122.8
605.4
-75.8
26.1
689.9
156.4
-63.5
257.1
547.2
159.4
511.9
-80.2
20.2
881.0
108.0
-75.1
398.4
571.9
137.6
642.1
-92.6
34.5
1,006.5
105.5
134.7
362.5
117.5
130.5
709.1
48.5
90.9
1,288.7
114.6
286.6
326.7
-96.6
140.9
1,049.6
153.6
159.8
1,341.5
130.3
236.2
570.4
-163.0
188.2
693.8
137.3
111.8
1,149.0
101.8
317.3
26.5
51.1
148.1
868.9
162.6
156.4
1,454.0
109.0
324.8
264.2
-80.9
237.3
643.6
74.0
58.1
1,689.7
100.1
188.5
368.1
393.5
205.6
920.5
262.7
141.9
1,583.4
45.3
366.1
532.5
471.3
77.5
590.6
280.8
55.7
1,312.7
59.0
289.7
-116.4
607.2
160.0
752.3
127.5
51.9
1,167.8
153.2
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
57 Total net issues
242.9
303.2
227.4
427.3
364.7
294.6
355.8
112.4
-104.5
62.1
76.3
-132.2
58 Corporate equities
59
Nonfmancial corporations
60
Foreign shares purchased by U.S. residents .
61
Financial corporations
62 Mutual fund shares
5.3
118.2
106.7
16.8
237.6
98.3
-48.1
109.1
37.3
204.9
46.4
-41.6
17.0
71.0
181.1
138.7
-42.0
118.0
62.7
288.6
66.5
-126.6
84.8
108.3
298.2
-12.5
-152.7
38.8
101.4
307.0
-33.5
-264.3
160.2
70.6
389.3
-126.9
-300.1
98.5
74.8
239.3
-305.5
-469.9
138.7
25.7
200.9
-148.4
-420.0
171.2
100.4
210.5
-384.5
-558.0
164.2
9.3
460.8
-403.8
-554.8
69.7
81.3
271.6
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.2
through F.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q4
Q1
Q2
Q3
Q4
Q1
Q2
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
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
1,693.9
2,067.2
2,341.1
2,728.7
3,492.4
3,025.5
3,293.7
3,311.0
4,109.5
3,746.4
3,193.2
39.7
-72.2
26.1
2.1
72.1
11.6
241.9
1,412.2
33.7
357.9
339.5
23.9
-12.2
6.7
56.2
28.0
-8.7
57.9
-125.0
36.3
2.1
138.3
26.3
-5.6
.0
246.0
199.7
143.7
136.7
-5.3
68.9
25.3
3.4
-98.8
-4.3
7.1
93.4
6.0
305.3
1,758.5
39.9
205.2
191.6
-.6
4.2
10.0
44.4
41.5
9.0
130.9
-36.0
-53.8
9.7
267.3
126.6
3.2
.0
304.7
338.5
213.6
49.8
8.6
92.4
-37.0
176.7
55.4
26.0
-.8
86.5
9.5
422.7
1,741.8
77.7
404.4
393.8
6.2
3.1
1.3
33.4
44.2
39.9
233.0
-13.6
-50.7
12.7
-17.7
138.7
8.6
3.7
224.1
326.8
183.7
103.7
21.5
28.4
-60.8
187.4
137.3
-1.0
1.2
52.5
-2.7
514.0
2,027.3
37.2
299.5
323.3
-43.0
8.6
10.6
126.0
51.2
67.0
180.6
57.2
11.2
6.0
-95.9
138.0
36.2
.7
236.5
330.5
217.0
122.7
28.1
79.6
98.0
322.7
209.2
36.8
11.7
61.8
3.3
752.1
1,922.2
51.2
582.2
548.0
20.3
.0
13.9
172.8
39.8
73.6
173.0
-5.3
27.2
4.7
-124.9
116.6
11.2
3.8
46.2
53.0
329.6
214.9
87.9
-29.2
94.0
693.5
500.5
76.7
13.9
95.2
7.2
743.5
2,055.3
55.7
772.7
672.3
87.8
-2.0
14.8
261.4
44.7
50.6
142.3
23.2
-5.1
.1
-34.8
127.8
12.7
4.2
-105.3
-51.5
338.7
246.7
177.3
-171.9
166.0
-27.6
-185.9
27.3
9.2
120.9
.9
753.2
2,299.9
2.0
965.6
745.0
218.0
-9.4
12.0
2.1
45.8
89.0
198.7
-3.5
60.0
8.5
-169.6
193.0
6.4
11.7
-54.8
47.3
428.4
81.8
37.6
75.7
274.1
406.3
300.9
34.6
14.1
62.8
-6.2
717.0
2,170.5
31.8
591.4
428.0
119.7
29.4
14.4
233.6
44.3
49.2
81.3
4.6
-23.6
11.4
-118.5
127.3
4.0
3.5
-88.8
136.6
675.0
18.0
120.1
230.6
38.7
521.9
384.4
.7
13.7
129.3
-6.3
860.0
1,929.1
56.9
649.2
514.9
174.8
-46.0
5.5
150.6
21.4
107.4
94.3
17.7
-58.6
8.1
32.6
83.8
-.8
7.1
-263.5
163.4
698.3
112.0
89.1
-215.3
175.5
499.6
356.6
50.9
14.8
76.4
.8
999.0
2,611.0
14.9
381.1
306.7
56.2
9.4
8.8
138.6
33.2
22.1
66.9
35.0
12.2
3.0
215.0
92.2
-3.4
4.8
145.3
191.8
767.2
256.5
20.8
273.3
-59.7
320.5
180.6
54.9
11.1
66.7
7.3
731.6
2,694.3
63.0
876.4
792.1
73.4
6.8
4.1
82.1
55.5
60.1
134.1
43.4
-14.1
5.4
95.3
200.7
10.1
3.0
67.5
327.6
288.7
98.1
40.5
-51.3
308.3
-21.2
-151.0
59.5
7.5
53.3
9.4
854.0
2,360.4
35.3
832.5
665.9
175.3
-8.2
-.5
142.4
36.5
48.1
84.4
72.8
-14.0
17.8
148.9
135.5
18.5
9.1
136.3
307.5
341.5
.7
57.7
94.7
-145.9
1,693.9
2,067.2
2,341.1
2,728.7
2,997.0
3,492.4
3,025.5
-.4
-4.0
2.4
126.9
12.0
-113.6
231.0
116.2
232.5
114.5
5.3
237.6
399.9
146.1
50.2
271.4
25.9
-51.9
,428.3
4.3
.0
1.3
6.8
-28.0
156.8
314.6
68.5
428.5
23.7
98.3
204.9
-84.3
3.1
77.2
253.3
14.4
-23.4
761.0
3.2
.0
1.0
21.0
17.4
-8.3
325.4
50.0
-16.7
106.6
46.4
181.1
70.8
-87.0
60.1
183.3
22.2
-82.7
552.9
-.9
.0
.6
36.6
-14.2
80.1
305.8
61.8
-207.5
227.2
138.7
288.6
22.1
132.5
66.8
163.4
-1.0
20.2
556.6
-3.2
.0
.7
89.9
19.2
89.8
282.9
246.6
-136.5
83.2
66.5
298.2
189.5
166.6
33.1
164.2
27.7
-56.0
1,647.0
-3.2
.0
.1
136.5
108.2
115.6
178.3
315.4
-130.8
-16.4
-12.5
307.0
176.8
229.4
34.4
153.9
22.2
-94.2
1,946.3
-14.5
.0
.8
420.0
1.6
43.9
232.9
263.7
-71.7
560.7
-33.5
389.3
209.7
3.7
15.2
84.5
37.0
-43.9
398.7
2.8
.0
1.1
-210.5
73.1
-31.6
259.9
251.1
11.7
387.9
-126.9
239.3
262.1
73.1
18.1
158.9
7.5
-86.1
1,457.4
-7.2
.0
.9
91.2
-36.7
-44.4
482.8
376.1
216.4
298.3
-305.5
200.9
312.7
20.8
20.0
31.0
14.9
-93.4
1,061.4
-19.5
.0
46.6
-11.4
46.2
282.3
193.6
351.6
172.7
-148.4
210.5
173.7
-128.4
10.9
165.5
51.0
-30.7
16.4
-2.3
.0
.6
229.1
-32.6
66.8
224.4
380.0
133.1
512.7
-384.5
460.8
130.8
244.2
3.3
113.3
31.1
-52.5
1,101.8
2.0
.0
.8
239.7
-154.2
31.2
309.5
299.5
222.6
255.5
-403.8
271.6
318.4
155.3
12.5
159.0
-5.7
-41.9
845.7
4,924.1
4,348.1
3,787.9
4,606.0
6,206.3
6,959.4
5,523.5
6,042.8
5,951.4
5,492.6
6,906.5
5,710.8
-1.2
76.4
17.3
143.4
32.6
-321.6
-12.9
17.2
-51.0
20.1
-219.2
-.6
21.5
7.2
36.1
2.3
-56.7
-.3
53.5
-4.4
-23.3
-42.6
-65.0
-.3
62.0
15.0
-138.0
-14.5
271.5
-.5
80.9
22.4
-194.9
-2.2
671.2
.4
384.9
33.6
420.9
-87.0
-695.3
.8
-243.3
-37.4
175.7
-23.5
435.7
1.7
18.3
1.4
-103.7
9.4
-222.1
-.1
21.4
41.1
47.7
-12.3
300.5
-4.8
242.6
25.2
266.0
-89.3
-330.7
.0
249.3
-.8
157.3
-25.4
-468.9
9.0
-.3
21.1
5.7
-.5
8.7
-1.6
-.7
148.9
-8.9
.0
39.6
27.9
15.3
-4.4
-50.2
-18.8
-.4
55.1
-11.9
-.3
31.3
21.9
.5
-29.9
-19.3
.0
-141.9
7.5
.0
81.9
-13.6
.1
82.1
4,947.4
4,580.2
3,631.4
4,657.5
5,987.3
6,417.6
5,430.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Netflowsthrough credit markets
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
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
54 Total financial sources
55
56
57
58
59
60
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
61 Federal government checkable deposits
62 Other checkable deposits
63 Trade credit
64 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.
3,311.0
2. Excludes corporate equities and mutual fund shares.
38
1.59
Federal Reserve Bulletin Statistical Supplement • November 2006
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
2004
Transaction category or sector
2001
2002
2003
2005
2006
2004
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
19,217.9
20,599.2
22,319.8
24,331.5
24,331.5
24,840.0
25,335.6
25,965.2
26,644.6
27,214.0
27,648.0
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
177.9
3,352.7
26.8
1,603.5
2,578.0
1,239.4
934.2
7 400 6
5,639.8
427.4
1,215.5
118.0
1,904.9
119.9
3,609.8
27.3
1,762.9
2,710.3
1,132.8
949.9
8,273.4
6,373.8
464.2
1,309.8
125.6
2,012.9
84.8
4,008.2
24.9
1,900.5
2,868.6
1,087.5
955.4
9,271.6
7,174.2
534.2
1,429.6
133.6
2,118.4
101.6
4,370.7
24.3
2,031.0
2,946.3
1,100.0
975.8
10,548.8
8,243.6
582.6
1,580.9
141.7
2,233.0
101.6
4,370.7
24.3
2,031.0
2,946.3
1,100.0
975.8
10,548.8
8,243.6
582.6
1,580.9
141.7
2,233.0
115.3
4,535.6
24.1
2,085.7
2,954.9
1,118.3
988.6
10,801.4
8,444.9
595.5
1,618.1
143.0
2,216.1
114.4
4,493.1
23.7
2,134.4
2,962.4
1,170.6
1,018.2
11,179.5
8,744.5
615.1
1,673.7
146.2
2,239.2
119.6
4,566.0
23.6
2,176.2
2,987.3
1,183.8
1,015.6
11,606.4
9,087.4
631.6
1,739.2
148.3
2,286.6
93.8
4,678.0
23.8
2,225.8
3,006.2
1,237.1
1,053.1
12,004.8
9,380.4
654.8
1,821.6
147.9
2,322.0
100.4
4,834.4
23.6
2,255.1
3,059.6
1,293.1
1,055.0
12,299.6
9,608.3
668.3
1,872.6
150.5
2,293.3
115.4
4,759.6
23.6
2,305.7
3,111.4
1,327.1
1,070.4
12,607.4
9,838.5
679.3
1,934.9
154.7
2,327.4
15
16
17
18
19
20
21
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
7,661.1
6,873.9
4,723.1
1,958.7
192.1
1,303.4
3,379.5
8,469.5
7,045.3
4,738.6
2,106.7
200.0
1,447.3
3,637.0
9,465.7
7,253.5
4,842.6
2,203.2
207.6
1,567.6
4,033.1
10,574.0
7,679.7
5,017.8
2,442.8
219.1
1,682.8
4,395.0
10,574.0
7,679.7
5,017.8
2,442.8
219.1
1,682.8
4,395.0
10,756.9
7,790.6
5,078.5
2,495.9
216.2
1,732.9
4,559.7
11,088.1
7,955.0
5,150.9
2,580.0
224.1
1,775.6
4,516.8
11,463.2
8,098.7
5,210.0
2,657.9
230.8
1,813.6
4,589.6
11,815.4
8,273.1
5,293.0
2,748.4
231.7
1,854.3
4,701.9
12,027.5
8,447.3
5,389.7
2,822.8
234.8
1,881.1
4,858.0
12,310.6
8,632.2
5,500.6
2,887.4
244.3
1,922.0
4,783.2
22 Foreign credit market debt held in
United States
862.9
1,072.3
1,244.5
1,424.8
1,424.8
1,439.5
1,462.0
1,482.6
1,466.0
1,498.9
1,520.0
23
24
25
26
196.0
557.1
63.2
46.6
254.2
705.2
68.6
44.3
267.1
874.4
60.9
42.2
329.9
993.0
63.3
38.6
329.9
993.0
63.3
38.6
332.3
1,003.3
66.3
37.7
336.2
1,024.4
65.0
36.4
355.0
1,026.5
66.3
34.7
368.4
987.5
76.2
34.0
389.0
1,000.2
78.1
31.6
370.1
1,035.0
84.9
29.9
20,080.8
21,671.6
23,564.3
25,756.2
25,756.2
26,279.6
26,797.6
27,447.7
28,110.7
28,712.8
29,168.0
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
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
Real estate investment trusts (REITs)
Funding corporations
29
30
31
9,185.7
10,052.6
11,047.3
11,938.9
11,938.9
12,087.5
12,375.3
12,484.8
12,921.5
13,167.0
13,498.5
1,197.3
2,130.6
1,133.5
2,350.4
1,080.5
2,594.1
1,135.7
2,659.2
1,135.7
2,659.2
1,158.6
2,606.8
1,218.0
2,585.7
1,269.5
2,524.8
1,371.8
2,575.0
1,411.9
2,611.2
1,475.4
2,686.1
2,831.8
2 355 1
121.7
463.7
85.6
3,158.6
2,703.1
142.8
470.5
93.8
3,489.1
3,144.2
135.6
501.7
102.1
3,542.2
3,728.6
169.1
575.8
128.4
3,542.2
3,728.6
169.1
575.8
128.4
3,547.1
3,893.7
168.8
578.6
134.0
3,567.9
4,089.7
163.3
611.9
138.8
3,616.6
4,141.8
173.8
614.5
143.8
3,677.0
4,357.9
178.3
620.1
141.4
3,752.5
4,451.2
176.3
616.9
147.1
3,813.6
4,559.0
172.6
641.5
150.3
296.0
266.1
285.7
4.9
3.1
2,130.6
2,831.8
1,699.2
42.3
818.1
171.2
636.6
325.5
286.4
262.3
6.9
5.1
2,350.4
3,158.6
1,876.3
40.6
884.3
195.7
660.4
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
2,072.8
47.0
995.3
227.7
674.8
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,401.3
62.2
1,129.7
340.9
709.4
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,401.3
62.2
1,129.7
340.9
709.4
373.0
403.3
324.3
11.8
10.7
2,606.8
3,547.1
2,504.6
65.0
1,144.0
359.2
737.9
383.4
408.6
344.1
12.5
11.2
2,585.7
3,567.9
2,681.0
63.7
1,143.9
382.4
790.7
389.1
421.5
344.3
12.6
11.3
2,524.8
3,616.6
2,853.1
70.7
1,038.6
398.9
803.2
394.3
429.5
348.9
14.7
11.5
2,575.0
3,677.0
3,062.6
62.4
1,108.6
399.5
837.5
398.4
438.7
343.0
14.6
12.2
2,611.2
3,752.5
3,133.8
71.1
1,101.0
416.1
874.6
422.6
467.0
346.5
16.3
12.5
2,686.1
3,813.6
3,228.9
72.3
1,120.1
430.0
882.6
All sectors
48 Total credit market debt, domestic and foreign .
49
50
51
52
53
54
55
56
57
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
29,266.4
1 571 1
3,352.7
4,989.1
1,603.5
5,490.1
1,424.3
1,444.5
7 486 2
1,904.9
31,724.1
34,611.6
37,695.1
37,695.1
38,367.0
39,172.8
39,932.5
41,032.1
41,879.9
42,666.5
1,507.6
3,609.8
5,536.3
1,762.9
6,118.6
1,344.2
1,464.7
8 367 2
2,012.9
1,432.5
4,008.2
6,108.1
1,900.5
6,887.1
1,283.9
1,499.2
9 373 7
2,118.4
1,567.2
4,370.7
6,225.6
2,031.0
7,667.9
1,332.4
1,590.2
10 677 2
2,233.0
1,567.2
4,370.7
6,225.6
2,031.0
7,667.9
1,332.4
1,590.2
10 677 2
2,233.0
1,606.2
4,535.6
6,177.9
2,085.7
7,851.8
1,353.5
1,604.8
10,935.4
2,216.1
1,668.5
4,493.1
6,177.3
2,134.4
8,076.5
1,398.9
1,666.5
11,318.4
2,239.2
1,744.1
4,566.0
6,165.0
2,176.2
8,155.6
1,423.9
1,664.8
11,750.2
2,286.6
1,833.9
4,678.0
6,275.8
2,225.8
8,351.6
1,491.6
1,707.2
12,146.2
2,322.0
1,901.3
4,834.4
6,387.2
2,255.1
8,511.0
1,547.4
1,703.4
12,446.7
2,293.3
1,960.9
4,759.6
6,523.3
2,305.7
8,705.3
1,584.6
1,741.8
12,757.7
2,327.4
1. Data in this table appear in the Board's Z.I quarterly statistical release, tables L
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
Q4
Q1
Q2
Q3
Q4
Q1
Q2
CREDIT MARKET DEBT OUTSTANDING2
1 Total credit market assets
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
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
29,266.4
31,724.1
34,611.6
37,695.1
37,695.1
38,367.0
39,172.8
39,932.5
41,032.1
41,879.9
42,666.5
3,700.8
2,117.9
246.1
73.1
985.0
278.7
3,192.2
22,373.5
551.7
5,210.5
4,610.1
510.7
24.7
65.0
1,133.2
421.2
518.4
2,074.8
585.8
689.4
44.8
1,584.9
1,229.7
108.5
.0
2,099.1
2,831.8
1,604.2
978.6
48.0
316.0
342.9
3,900.9
2,196.7
272.1
72.4
1,071.4
288.2
3,708.0
24,115.3
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,166.6
465.4
558.3
2,307.8
572.3
638.7
57.6
1,567.1
1,368.4
117.1
3.7
2,323.2
3,158.6
1,787.8
1,082.3
69.4
344.4
282.2
4,298.4
2,544.2
271.1
73.6
1,124.0
285.6
4,138.2
26,175.0
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,292.6
516.6
625.2
2,488.3
629.5
649.9
63.6
1,471.3
1,506.4
153.3
4.5
2,559.7
3,489.1
1,990.8
1,205.0
97.5
424.1
380.2
4,633.8
2,766.1
307.9
85.3
1,185.8
288.8
4,929.3
28,132.0
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.4
698.8
2,661.4
624.2
677.1
68.2
1,346.3
1,623.0
164.5
8.2
2,605.9
3,542.2
2,320.4
1,420.0
200.1
394.9
474.1
4,633.8
2,766.1
307.9
85.3
1,185.8
288.8
4,929.3
28,132.0
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.4
698.8
2,661.4
624.2
677.1
68.2
1,346.3
1,623.0
164.5
8.2
2,605.9
3,542.2
2,320.4
1,420.0
200.1
394.9
474.1
4,620.3
2,726.1
301.4
87.6
1,216.3
288.8
5,111.3
28,635.5
717.3
6,745.2
6,054.3
563.1
34.0
93.8
1,496.3
565.8
721.1
2,714.2
623.4
692.1
70.4
1,294.3
1,669.3
166.1
11.2
2,581.4
3,547.1
2,422.7
1,423.1
209.5
440.0
525.0
4,740.3
2,824.1
305.2
91.1
1,235.3
284.6
5,299.6
29,133.0
724.7
6,909.7
6,178.8
592.1
41.4
97.4
1,550.2
579.0
733.4
2,733.2
624.5
686.2
73.2
1,245.1
1,697.3
167.1
12.0
2,571.2
3,567.9
2,595.7
1,441.7
239.5
457.3
524.0
4,771.1
2,805.3
317.8
94.5
1,265.2
288.3
5,514.1
29,647.3
736.4
7,084.1
6,327.3
628.2
29.9
98.8
1,588.8
585.9
760.3
2,760.6
628.9
671.5
75.2
1,246.8
1,719.6
166.9
13.8
2,503.2
3,616.6
2,762.4
1,465.2
261.8
432.0
567.3
5,049.2
3,045.4
336.2
98.2
1,283.1
286.1
5,604.6
30,378.4
744.2
7,189.8
6,408.3
648.3
32.2
101.0
1,616.6
592.6
765.8
2,765.4
637.7
674.6
76.0
1,336.2
1,747.1
166.0
15.0
2,540.5
3,677.0
2,962.7
1,537.1
267.0
486.0
581.3
5,129.1
3,104.7
335.4
101.0
1,300.3
287.6
5,780.9
30,969.9
758.5
7,366.1
6,560.7
669.5
33.9
102.0
1,648.8
604.1
780.8
2,803.0
648.5
671.1
77.3
1,347.7
1,796.2
168.5
15.7
2,545.9
3,752.5
3,030.7
1,543.0
277.1
497.3
636.9
5,139.3
3,087.2
344.7
102.9
1,317.2
287.3
6,004.1
31,523.1
766.4
7,591.4
6,744.6
713.0
31.9
101.9
1,679.5
615.6
792.8
2,822.5
666.7
667.6
81.8
1,370.9
1,825.1
173.2
18.0
2,593.8
3,813.6
3,121.2
1,558.2
291.6
480.2
592.9
41,879.9
42,666.5
48.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
Other liabilities
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank liabilities
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Trade payables
Taxes payable
Miscellaneous
34,611.6
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
4,135.4
825.9
880.0
8,766.4
2,372.3
219.2
11,307.7
55.8
2.2
25.5
831.1
206.0
1,351.9
3,695.9
1,171.0
2,223.9
1,340.3
3,638.4
738.8
920.9
8,061.0
2,443.1
241.4
12,012.0
62.3
2.2
26.0
867.8
193.3
1,432.0
4,001.7
1,232.8
2,016.4
1,567.5
4,654.2
871.3
1,013.2
9,502.7
2,465.2
240.5
12,470.4
62.2
2.2
26.7
957.7
212.2
1,521.8
4,284.6
1,504.9
1,879.8
1,650.7
5,436.3
1,037.9
1,060.4
10,470.3
2,654.7
268.1
13,945.3
62.2
2.2
26.7
957.7
212.2
1,521.8
4,284.6
1,504.9
1,879.8
1,650.7
5,436.3
1,037.9
1,060.4
10,470.3
2,654.7
268.1
13,945.3
56.3
2.2
26.9
1,062.7
196.6
1,499.7
4,376.0
1,575.4
1,841.0
1,782.8
5,471.6
1,051.5
1,059.4
10,304.1
2,701.6
285.0
13,973.5
54.3
2.2
27.2
1,010.0
207.6
1,514.6
4,408.5
1,637.1
1,831.5
1,911.3
5,595.7
1,064.5
1,067.2
10,508.4
2,763.4
287.7
14,187.3
52.0
2.2
27.4
1,032.9
204.3
1,481.9
4,523.7
1,738.0
1,876.6
1,983.9
5,874.4
1,068.0
1,077.7
10,786.1
2,847.7
295.8
13,964.6
45.9
2.2
27.5
1,044.5
220.3
1,525.4
4,599.0
1,776.0
2,006.9
2,005.6
6,048.9
1,030.2
1,082.6
11,009.4
2,894.2
295.7
14,069.9
46.0
2.2
27.6
1,101.8
199.1
1,508.7
4,687.5
1,877.2
2,014.1
2,127.8
6,456.7
1,105.1
1,091.6
11,249.1
2,926.4
311.6
13,930.2
27.8
1,161.7
151.9
1,541.0
4,732.9
1,950.0
2,067.4
2,226.1
6,406.4
1,138.2
1,090.8
11,155.6
3,002.2
311.6
13,927.0
52 Total liabilities
68,174.3
70,683.3
77,230.8
84,670.7
84,670.7
85,633.4
87,251.5
88,769.4
90,716.3
92,542.6
93,607.6
Financial assets not included in liabilities (+)
53 Gold and special drawing rights
54 Corporate equities
55 Household equity in noncorporate business . . .
21.8
15,310.6
4,806.3
23.2
11,900.5
4,970.7
23.7
15,618.5
5,401.1
24.6
17,389.3
5,960.7
24.6
17,389.3
5,960.7
22.6
17,002.3
6,138.1
22.3
17,185.9
6,367.2
19.3
17,914.7
6,559.3
19.3
18,276.8
6,734.7
19.4
19,143.6
6,937.1
19.7
18,684.5
7,054.9
-8.6
630.9
11.1
390.0
93.3
-3,446.7
-9.1
652.5
15.5
426.0
126.3
-3,264.4
-9.5
705.9
12.6
402.8
69.3
-3,013.0
-9.7
767.9
27.3
264.8
96.2
2,865.7
-9.7
767.9
27.3
264.8
96.2
2,865.7
-9.6
864.1
35.7
366.8
91.9
-3,103.0
-9.4
803.3
23.3
436.8
97.0
3,091.8
-9.0
807.9
27.5
428.4
80.8
3,439.0
-9.1
813.2
38.5
400.0
95.4
-3,369.4
-10.3
873.9
44.0
465.3
93.1
-3,590.2
-10.2
936.2
41.9
530.4
74.1
-3,845.1
-12.3
21.6
-138.5
-11.7
20.9
10.4
-17.9
20.8
50.1
11.2
20.6
45.7
11.2
20.6
45.7
4.9
16.4
-17.0
1.7
19.6
-48.0
2.5
12.4
-33.4
1.4
20.6
24.3
1.9
16.4
-32.7
2.4
19.7
-48.9
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
56
57
58
59
60
61
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
62 Federal government checkable deposits
63 Other checkable deposits
64 Trade credit
65 Totals identified to sectors as assets
120,781.2 121,666.1
89,611.4
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 • November 2006
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2005
2005
2006
2005
2006
2006
Series
Q4
Q1
Q2
Q3'
Q4
Q1
Q2
Q3
Capacity (percent of 2002 output)
Output (2002=100)
Q4
Q1
Q2
Q3'
Capacity utilization rate (percent)2
1 Total Industry
109.4
110.8
112.6
113.7
135.9
136.6
137.2
137.9
80.5
81.1
82.0
82.5
2 Manufacturing
3
Manufacturing (NAICS)
111.6
112.2
113.1
113.8
114.5
115.3
115.8
116.7
139.9
141.3
140.7
142.2
141.6
143.1
142.5
144.1
79.8
79.4
80.3
80.1
80.8
80.5
81.2
81.0
4
5
121.1
103.4
122.7
105.8
124.9
108.2
126.7
106.3
153.2
123.9
154.8
123.6
156.2
123.2
157.5
122.7
79.1
83.5
79.3
85.6
80.0
87.9
80.4
86.6
108.9
120.3
169.4
110.6
119.8
173.9
112.1
122.1
180.8
113.8
127.3
190.6
143.1
144.2
216.6
143.6
144.3
224.4
144.2
144.8
230.4
144.9
145.4
235.6
76.1
83.5
78.2
77.0
83.0
77.5
77.7
84.3
78.5
78.6
87.5
80.9
110.7
112.2
113.3
112.2
116.6
112.8
119.0
109.3
126.2
141.0
126.2
142.2
126.7
143.1
127.4
143.9
87.7
79.6
89.8
78.9
92.0
78.8
93.4
75.9
115.7
101.8
106.0
91.5
121.0
103.4
107.4
90.7
124.3
104.0
107.3
88.5
128.0
105.0
107.7
87.9
161.3
127.2
129.5
118.5
162.2
127.4
129.8
117.7
163.1
127.8
130.6
117.0
164.1
128.4
131.5
116.3
71.7
80.0
81.9
77.2
74.6
81.2
82.7
77.0
76.2
81.4
82.1
75.7
78.0
81.8
81.9
75.6
98.4
99.7
100.7
107.3
101.6
98.8
103.6
102.7
108.1
100.9
97.8
102.8
104.7
109.5
101.7
97.9
106.1
106.3
110.5
100.8
115.7
114.2
135.9
120.5
118.0
115.6
114.3
136.3
120.7
118.1
115.4
114.5
136.9
121.6
118.1
115.2
114.5
137.5
122.7
118.1
85.0
87.3
74.1
89.0
86.1
85.5
90.6
75.3
89.6
85.5
84.8
89.9
76.5
90.0
86.1
85.0
92.6
77.3
90.1
85.3
20 Mining
21 Electric and gas utilities
92.6
106.6
98.1
102.6
100.6
106.6
100.8
107.9
111.9
122.8
111.7
122.8
123.0
110.8
123.3
82.7
86.9
87.9
83.5
90.4
86.6
91.0
87.5
MEMOS
22 Computers, communications equipment, and
semiconductors
186.8
193.5
202.7
217.6
246.7
258.7
265.9
271.4
75.7
74.8
76.2
80.2
23 Total excluding computers, communications
equipment, and semiconductors
106.1
107.3
108.8
109.6
131.0
131.3
131.7
132.2
81.0
81.7
82.6
82.9
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
107.6
108.8
110.0
110.7
134.0
134.4
135.0
135.7
80.3
81.0
81.5
81.6
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
Series
Low
High
Low
Oct.
May
June
July'
Aug.'
Sept.'
Oct.p
Capacity ut lization rate (percent)4
1 Total Industry
88.9
74.1
86.6
70.7
85.1
78.6
79.9
81.7
82.5
82.6
82.7
82.1
82.2
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
79.4
79.1
80.5
80.2
81.1
80.8
81.2
80.9
81.4
81.2
81.0
80.8
80.7
80.4
89.4
101.9
69.7
69.7
86.8
90.4
62.8
46.9
84.6
94.9
73.4
74.6
79.1
82.9
79.6
88.7
80.3
88.8
80.3
87.2
80.8
86.7
80.2
86.0
79.8
83.5
91.7
94.5
69.7
74.5
82.8
92.6
61.8
58.2
81.7
85.3
72.6
73.9
76.3
82.5
77.3
83.4
77.7
83.9
78.4
87.5
78.8
87.8
78.5
87.3
78.5
87.5
86.9
66.1
89.4
76.4
81.5
75.9
77.1
78.2
79.3
79.9
80.9
81.8
82.5
99.3
95.6
68.0
54.6
91.9
95.2
64.7
45.0
89.0
89.3
77.0
56.0
87.8
82.8
92.3
77.6
91.9
79.9
93.9
75.6
94.3
76.9
92.0
75.2
92.1
72.1
75.8
87.6
67.5
72.4
86.7
85.8
68.8
75.6
87.3
86.9
81.3
81.5
69.7
79.2
75.9
81.2
76.6
81.6
77.6
81.9
78.0
81.8
78.3
81.7
79.1
81.2
86.3
89.5
77.6
61.9
84.5
89.9
80.6
72.6
85.9
91.5
81.1
77.6
81.5
78.4
81.8
75.5
81.6
75.5
82.2
76.1
81.7
75.5
81.8
75.1
81.6
74.4
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
85.3
83.6
72.7
88.0
85.9
84.4
90.0
76.4
89.3
86.1
85.7
92.6
76.8
90.1
86.0
84.6
91.6
77.2
91.1
86.1
85.1
92.6
77.5
90.1
85.1
85.3
93.7
77.3
89.0
84.6
85.1
90.4
77.0
87.8
85.4
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
79.6
86.2
90.3
86.3
91.2
88.7
91.2
88.9
90.6
88.9
91.1
84.8
91.8
88.2
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.4
88.7
74.0
80.9
74.0
74.9
76.1
77.1
78.2
80.4
82.0
83.3
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.5
85.5
78.8
80.3
82.3
83.1
83.1
83.1
82.4
82.4
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.3
68.1
86.0
77.3
80.0
81.2
81.7
81.8
81.8
81.3
80.8
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
2.13
Federal Reserve Bulletin Statistical Supplement • November 2006
INDUSTRIAL PRODUCTION
Indexes and Gross Value'
Monthly data seasonally adjusted
Group
2002
proportion
2005
Apr.
July'
Aug.r
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
108.4
109.4
110.4
110.3
110.7
111.2
112.1
112.2
113.4
113.7
114.0
113.4
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
109.4
112.6
120.0
105.4
103.9
104.0
103.8
104.4
85.3
104.7
105.4
104.7
11.0
06.5
13.1
17.3
25.3
08.4
06.3
03.9
04.2
05.3
85.4
04.1
05.3
02.7
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
110.1
133.4
104.7
106.7
105.5
105.1
106.7
86.5
104.1
106.4
107.2
111.5
105.4
110.2
112.3
132.7
105.6
106.2
103.6
105.3
107.3
87.8
103.1
106.3
97.0
111.8
105.8
109.9
112.0
131.7
105.2
105.8
104.2
104.6
106.5
87.4
102.9
104.1
103.0
112.5
106.6
110.7
113.6
130.5
106.1
105.4
104.9
105.2
106.6
88.4
104.7
104.6
103.9
113.1
106.5
110.2
112.5
129.9
105.8
106.1
105.0
106.2
107.5
89.3
105.6
106.4
100.5
113.0
106.3
109.5
111.5
132.5
105.1
105.7
105.0
105.6
106.2
89.7
105.6
106.5
102.7
114.4
107.9
112.0
116.4
134.8
103.7
106.1
106.3
105.9
106.2
89.2
106.6
107.2
107.5
114.6
107.4
108.5
109.2
134.2
103.5
107.3
106.9
106.8
107.2
91.0
107.0
107.7
107.2
115.0
107.9
110.3
111.7
133.2
105.8
107.4
106.9
106.7
106.8
89.3
108.1
106.6
107.8
114.1
106.9
108.2
108.9
133.8
103.3
107.1
106.3
106.9
107.3
88.2
108.2
106.4
104.2
114.2
106.4
105.4
103.9
135.1
102.5
106.7
106.6
107.0
107.2
89.4
108.3
107.4
105.1
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
23.1
21.5
41.3
14.5
27.8
125.8
127.9
144.9
115.5
128.6
126.4
129.4
144.8
116.0
129.9
127.6
134.0
146.6
115.9
129.7
128.2
134.5
148.9
115.6
131.8
129.4
133.3
151.3
117.2
131.1
132.5
136.3
154.9
120.1
132.4
132.0
135.2
156.4
119.0
131.7
133.7
137.4
158.9
120.1
133.3
136.3
138.8
160.7
123.4
134.2
136.8
140.4
160.0
124.1
133.7
136.6
141.3
161.3
122.7
134.0
137.5
142.0
163.4
123.3
134.5
21
22
Construction supplies
Business supplies
4.3
11.2
108.7
107.7
12.4
08.4
113.4
109.1
113.1
110.3
114.1
109.3
113.7
109.1
113.6
109.9
114.0
110.3
113.3
110.9
113.4
111.8
113.8
112.0
113.5
112.4
112.4
111.1
112.7
112.3
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
04.9
10.9
20.1
04.4
49.1
07.0
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
107.7
99.2
82.6
98.0
99.2
96.8
108.8
114.4
122.9
103.4
155.5
109.2
101.0
84.6
99.2
101.5
95.5
109.3
114.3
123.4
103.4
156.7
109.5
100.1
84.1
97.7
100.8
97.2
109.5
114.5
123.5
104.3
157.9
108.7
100.3
83.6
98.2
101.3
97.5
110.7
115.6
125.1
105.5
160.6
109.7
100.8
82.6
98.0
101.9
98.8
111.0
115.7
125.1
103.7
161.6
110.0
100.8
81.5
97.6
103.2
99.6
112.1
116.4
126.2
104.9
164.1
110.3
101.2
81.6
98.8
103.2
101.1
112.6
117.1
127.1
102.6
169.0
110.3
101.5
81.9
98.6
104.1
101.3
112.7
117.8
128.1
103.4
173.1
109.7
101.7
81.3
98.9
104.6
100.5
112.4
117.7
128.3
102.2
175.5
109.3
101.3
80.6
98.8
103.9
99.7
112.9
94.8
92.6
105.3
107.9
05.2
07.8
106.0
109.3
107.0
110.5
106.9
110.2
107.2
110.7
107.7
111.1
108.5
112.1
108.4
112.2
109.5
113.3
109.8
114.1
109.9
114.3
109.1
113.7
109.2
114.3
win
128.3
100.3
177.8
108.8
101.3
79.7
99.2
103.9
101.0
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 .
2,990.6
43.5
31.1
12.4
15.5
3,038.5
3,054.4
3,058.8
3,080.9
3,124.4
2,264.1 2,289.8 2,297.5 2,311.8 2,311.8 2,319.0 2,332.8 2,334.3 2,333.8 2,372.6 2,368.9 2,381.3 2,367.6 2,351.2
1,593.2 1,599.3 1,596.5 1,606.9 1,599.1 1,605.2 1,613.3 1,601.5 1,605.6 1,637.3 1,621.0 1,632.5 1,619.6 1,600.1
763.5
759.0
675.0
696.3
707.8
711.8
720.7
721.6
727.5
742.8
737.6
743.9
758.9
759.3
726.8
733.4
741.2
746.7
742.9
740.2
744.6
747.0
749.8
754.7
756.0
757.0
748.4
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.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July'
Aug.'
Sept.'
Oct.'
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
110.9
111.5
111.7
112.4
112.2
112.8
113.1
113.8
112.8
113.6
113.3
114.1
114.3
115.1
114.1
114.8
115.1
115.9
115.5
116.4
116.0
117.0
115.7
116.7
115.5
116.4
321
43.6
1.5
117.0
107.6
120.7
112.7
121.2
114.0
121.4
113.4
122.3
111.5
122.5
109.4
123.2
107.7
124.6
107.6
124.3
106.7
125.8
104.6
126.1
105.2
127.2
103.5
126.8
102.1
126.5
100.3
327
331
332
333
2.3
2.3
5.7
5.3
107.2
100.6
106.7
115.7
108.8
102.7
109.0
119.0
111.6
103.5
109.1
120.2
109.6
104.0
108.5
121.8
112.6
106.8
109.8
119.7
112.5
106.1
110.4
119.1
112.1
104.4
111.4
120.7
112.2
106.2
112.5
123.7
110.5
109.2
111.5
120.8
111.0
109.3
112.3
121.7
110.7
107.1
113.3
127.1
110.1
106.4
114.2
127.6
108.2
105.4
113.9
127.1
108.5
102.2
114.1
127.5
334
8.0
156.7
165.0
170.7
172.5
172.4
173.8
175.3
178.0
180.3
184.1
187.0
190.7
194.0
197.1
335
3361-3
2.2
7.4
106.9
112.1
110.9
116.3
110.5
110.9
110.6
109.5
113.3
112.3
112.5
111.3
114.2
112.9
116.2
112.6
117.0
111.1
116.6
114.6
119.4
108.7
120.2
110.6
117.4
108.5
117.7
104.2
3364-9
3.6
109.8
112.2
116.4
118.4
119.6
122.3
121.0
123.8
123.8
125.2
127.2
128.1
128.7
130.4
337
339
1.8
3.3
100.7
110.3
100.5
112.6
100.2
112.2
99.4
111.7
99.3
112.0
99.7
113.0
100.6
113.0
100.7
113.8
101.8
114.3
102.1
115.2
100.0
115.8
101.8
116.4
99.4
116.6
99.9
117.2
35.5
101.8
100.7
102.0
102.7
103.7
103.1
103.4
103.9
103.7
104.4
105.0
105.0
105.0
104.6
311,2
313,4
315,6
322
323
11.4
1.4
1.0
3.1
2.4
104.4
91.4
86.0
98.0
97.7
105.5
93.2
86.5
98.8
98.2
105.8
91.6
87.5
97.2
98.3
106.9
89.7
87.7
99.3
98.4
107.8
91.5
88.9
100.8
100.2
107.1
90.9
88.5
98.3
100.7
107.3
89.7
89.2
97.4
101.4
108.2
89.1
90.0
97.3
102.5
106.8
88.3
90.5
97.3
101.8
106.8
88.2
89.8
98.8
102.5
107.9
88.7
91.8
97.4
102.3
107.4
87.8
89.9
98.0
102.1
107.8
87.2
88.9
98.2
102.1
107.8
86.2
89.9
97.9
103.5
324
325
1.7
10.7
103.8
102.6
95.4
98.8
101.9
101.3
101.7
101.9
105.0
102.5
103.9
102.2
101.9
103.3
99.4
104.1
103.0
104.6
106.1
105.3
104.9
105.9
106.1
106.6
107.3
106.4
103.5
106.2
326
3.8
104.8
106.2
107.4
108.4
108.0
108.0
108.4
110.0
108.6
109.8
111.4
110.6
109.5
108.5
1133,5111
4.8
101.9
101.4
101.1
102.3
102.0
100.3
100.6
101.8
101.7
101.6
101.7
100.6
99.9
100.9
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
97.4
105.8
107.4
97.4
89.1
105.9
109.5
89.6
93.1
104.8
107.3
93.0
95.5
109.2
110.0
104.3
win
98.3
102.4
80.2
98.4
103.9
106.9
89.9
98.2
105.6
107.2
97.4
100.0
104.2
106.5
93.2
100.4
106.2
109.0
93.3
101.3
109.2
111.4
98.5
101.2
109.5
111.8
98.4
100.4
109.7
111.7
99.5
100.8
104.6
106.0
97.0
101.4
108.9
78.7
106.1
107.1
107.7
108.0
109.0
108.6
109.0
109.9
109.5
110.5
110.7
111.0
110.5
110.0
76.5
109.3
110.4
111.8
112.4
113.2
113.0
113.3
114.4
114.3
115.1
116.2
116.5
116.4
116.5
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.
97.5
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 • November 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
-527,514
-494,897
1,016,096
-1,510,993
36,593
42,292
112,789
-70,497
-5,699
-69,210
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
-665,286
-611,296
1,151,942
-1,763,238
27,592
33,635
123,867
-90,232
-6,043
-81,582
-791,508
-716,730
1,275,245
-1,991,975
11,293
17,598
134,417
-116,819
-6,304
-86,072
Q2
Q3
Q4
Q1
Q2
-193,258
-172,058
316,645
-488,703
1,994
3,549
31,052
-27,503
-1,555
-23,194
-183,415
-181,792
320,853
-502,645
7,841
9,463
40,371
-30,908
-1,622
-9,464
-223,109
-194,774
331,165
-525,939
-2,159
-581
32,642
-33,223
-l|s78
-26,176
-213,198
-191,140
344,430
-535,570
-2,516
-894
34,295
-35,189
-1,622
-19,542
-218,410
-193,817
355,879
-549,696
-4,149
-2,526
36,022
-38,548
-1,623
-20,444
537
1,049
1,479
1,523
0
601
1,494
-572
-398
3,826
-623
4,511
10,200
-615
-97
-564
-136
2,976
1,951
-161
-81
5,050
-173
513
0
-67
729
-149
-560
0
-51
-351
-158
-328,484
-13,014
-18,851
-146,722
-149,897
-872,317
-361,623
-120,017
-146,549
-244,128
-446,436
-213,018
-44,221
-180,125
-9,072
-196,568
-174,153
57,244
-45,702
-33,957
-138,647
-102,716
-29,483
-36,790
30,342
-15,911
10,368
-4,812
-47,266
25,799
-357,540
-196,407
-46,190
-53,692
-61,251
-213,258
-81,533
-32,408
-52,215
-47,102
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
387,809
263,338
41,662
-139
69,245
13,703
199,495
71,749
84,701
-488
24,275
19,258
74,613
16,892
19,421
34,187
4,001
33,983
8,213
17,713
395
824
6,838
71,934
37,418
23,786
-255
5,078
5,907
75,697
42,156
24,063
37
-821
10,262
74,874
-8,905
30,458
637
41,730
10,954
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
586,494
97,207
96,526
91,455
16,640
220,705
63,961
1,062,412
336,740
93,250
102,940
14,827
381,493
133,162
1,012,755
179,849
30,105
199,491
19,416
474,140
109,754
271,566
152,938
-20,035
14,103
4,507
111,808
8,245
354,609
94,912
20,271
37,239
4,679
153,049
44,459
181,416
2,141
-50,305
62,041
9,158
131,871
26,510
451,801
148,851
74,953
-5,212
1,932
186,009
45,268
291,523
84,247
26,115
10,065
1,127
121,556
48,413
-3,321
-7,510
-2,261
85,128
-4,351
10,410
-589
44,044
-4,862
48,905
-557
-72,240
-17,549
-54,691
-514
-19,071
9,219
-28,291
-1,756
43,434
10,437
32,997
-882
65,234
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
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
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
-797
4,766
4,796
513
-560
278,792
387,948
199,983
74,501
33,588
72,189
75,660
74,237
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
2006
Asset
2003
2004
2005
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.'
1 Total
85,938
86,824
65,127
65,354
66,846
67,706
67,935
67,559
66,606
66,217
65,588
2 Gold stock1
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,043
12,638
11,045
13,582
11,043
8,210
11,043
8,344
11,041
8,518
11,041
8,704
11,041
8,618
11,041
8,644
11,041
8,726
11,041
8,655
11,041
8,676
22,535
39,722
19,479
42,718
8,036
37,838
7,376
38,592
7,219
40,068
7,219
40,742
7,906
40,370
7,460
40,414
6,715
40,124
6,619
39,902
5,577
40,294
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
2006
Asset
2003
2004
2005
Mar.
1 Deposits
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
Apr.
June
July
Aug.
Sept.
Oct.'
162
80
83
84
86
86
142
88
89
98
104
845.080
8,971
1.041.215
8,967
1.069.014
8,967
1,103,810
8,967
1,097,103
8,967
1,093,393
8,967
1,089,512
8,967
1,095,248
8,967
1,116,941
8,967
1,098,848
8,967
1,111,991
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
May
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
2006
2005
Item
2004
2005
July'
Aug.'
Sept.p
2,115,296' 2,172,004' 2,223,083
2,251,876
2,268,080
2,281,533
304 503
185,138
309,393
186,321
291,607
190,699
297,452
181,570
1
June "
1 Total1
1,909,034
By type
2 Liabilities reported by banks in the United States2
2,172,004' 1,954,620
270,387
245,199
296,647
201,863
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
10 Asia
11 Africa
288,792
204,912
r
June'
Dec.
296,647
201,863
288,792
204,912
r
986 454
1,630
405,363
1 081 647
948
590,899'
1 030 763
911
429,242
1 057 481
911
563,200'
1 081 647' 1 086 055
986
948
646,401
590,899'
1 094 295
993
660,874
1 111 181
999
673,593
1,118,887
1,006
682,618
357,322
7,806
112,608
1,388,409
10,843
31,866
368,516
7,211
128,006
1,615,397
17,214
29,502
364,413
7,569
113,245
1,417,229
14,551
37,433
350,973
6,679
122,989
1,575,240
15,247
38,010
368,516
7,211
128,006
1,615,397
17,214
29,502
364,554
6,813
148,097
1,642,476
18,665
36,320
373,086
7,341
150,320
1,659,098
19,275
36,598
360,959
7,084
157,988
1,681,630
19,455
34,806
358,364
6,505
160,992
1,699,285
18,813
31,416
1. For data before June 2006, includes the Bank for International Settlements.
2. Principally demand deposits, time deposits, bankers acceptances, commercial paper,
negotiable time certificates of deposit, and borrowings under repurchase agreements.
3. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
4. Excludes notes issued to foreign official nonreserve agencies. Includes current value of
zero-coupon Treasury bond issues to foreign governments as follows: Mexico, beginning
March 1990, 30-year maturity issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
5. Debt securities of U.S. government corporations and federally sponsored agencies, and
U.S. corporate stocks and bonds.
3.16
June
8
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 2005 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
2006
2004
Sept.
Dec.
Mar.
June
2
3
Deposits
Other liabilities
80,543
n.a.
n.a.
63,119
36,674
26 ,AAi
98,349
52,410
45,939
109,367
67,668
41,699
85,841
59,241
26,600
94,756
60,726
34,030
100,448
64,735
35,713
5
Deposits
71,724
34,287
37,437
81,669
38,102
43,567
129,544
51,029
78,515
101,745
42,883
58,862
93,290
43,868
49,422
106,489
49,340
57,149
107,859
48,724
59,135
8
Deposits
35,923
7,907
28,016
21,365
5,064
16,301
32,056
8,519
23,537
45,118
21,616
23,502
54,698
20,835
33,863
65,338
24,015
41,323
88,716
26,928
61,788
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 • November 2006
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
2006
Item
2003
2004
2005
Mar.'
Apr.'
May'
June'
July'
Aug.'
Sept.p
3,234,225
3,392,113
3,491,516
3,331,109
3,391,949
3,374,498
3,406,500
1 677 193 2 082 981 2 299 172 2 451 566 2 609 907 2 682 473 2 470 993 2 502 142 2 475115
2 517 919
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
2,315,606
2,911,516
3,080,496
By type of liability
4
5
6
7
8
9
10
11
Other
Of which: repurchase agreements3
Banks' custody liabilities4
By type of liability
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments6
Of which: negotiable time
certificates of deposit held in custody
for foreigners
Of which: short-term agency securities7
Other
12 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
20
22
23
24
25
27
28
29
30
31
32
33
Banks' own liabilities
Other
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
Banks' own liabilities
Deposits2
Other
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily
Other
34 Other foreigners''
36
37
Deposits2
Other
39
40
U.S. Treasury bills and certificates5
Other negotiable and readily
transferable instruments6
Other
41
1 043 801 1 101 727 1 196 365 1 250 850 1 155 187 1 172 485 1 129 970 1 153 195
1,255,371 1.349.839 1.413.542 1,431,623 1,315,806 1,329,657 1.345.145 1.364.724
804,635
784,160
782,105
768,738
853,179
810,396
712,549
768,352
888,581
899,383
889,807
860,116
809,043
782,206
781,324
782,659
852,803
824,390
460,191
638,413
955,072
1,127,909
665,127
828,535
258,797
318,783
259,843
277,836
258,862
255,477
248,405
254,682
259,324
246,305
202,774
315,169
319,826
304,169
326,126
349,693
359,109
366,723
365,416
359,313
34,394
83,633
176,842
48,260
152,789
194,583
53,594
136,783
201,655
52,170
116,621
200,654
55,515
118,948
197,218
58,867
131,981
203,873
56,697
143,632
252,602
58,913
136,007
268,402
63,069
124,441
274,643
62,597
117,918
282,963
14,149
12,577
6,134
6,443
1,572
110
15,654
10,363
6,098
4,265
5,291
1,879
20,793
15,612
8,361
7,251
5,181
1,085
20,802
16,073
9,209
6,864
4,729
1,399
19,551
14,177
9,470
4,707
5,374
1,081
19,422
14,306
8,846
5,460
5,116
1,057
33,157
25,096
17,846
7,250
8,061
4,158
30,350
24,021
16,192
7,829
6,329
2,222
26,736
20,325
14,792
5,533
6,411
2,522
29,726
25,630
18,901
6,729
4,096
1,322
1,462
3,412
4,096
3,330
4,293
4,059
3,903
4,107
3,889
2,774
401,856
117,737
24,208
93,529
515,586
145,516
26,613
118,903
498,510
170,984
45,426
125,558
511,316
194,540
45,012
149,528
498,792
195,837
45,652
150,185
515,449
202,717
49,598
153,119
489,641
181,254
42,223
139,031
495,714
188,151
44,688
143,463
482,306
175,773
49,020
126,753
479,022
185,042
50,291
134,751
284,119
212,032
370,070
245,199
327,526
201,863
316,776
215,489
302,955
197,456
312,732
195,085
308,387
185,138
307,563
186,321
306,533
190,699
293,980
181,570
72,087
124,871
125,663
101,287
105,499
117,647
123,249
121,242
115,834
112,410
1 380 639 1 574 793 1 790 292 1 892 892 2 027 827 2 087 240 1 982 316 2 019 909 2,018,302
1,163,309 1,354,437 1,565,079 1,666,006 1,801,254 1,853,879 1,701,386 1,718,362 1,711,422
931,201
983,458 1,034,331
891,548
840,076
706,536
773,703
903,849
945,549
807,573
772,813
770,185
819,548
817,796
774,458
725,003
456,773
580,734
306,880
301,547
280,930
233,361
226,573
226,886
225,213
217,330
220,356
27,127
26,598
21,458
23,642
23,890
22,507
23,771
18,267
26,978
2,052,902
1,736,833
914,871
821,962
316,069
26,644
49,311
149,752
52,400
140,978
48,777
152,665
48,860
155,519
51,526
151,157
52,079
157,640
53,983
205,489
53,633
221,316
52,486
227,267
53,773
235,652
518,962
383,570
115,925
267,645
805,483
572,665
148,658
424,007
770,901
547,497
149,938
397,559
809,215
574,947
155,958
418,989
845,943
598,639
157,785
440,854
869,405
611,571
158,075
453,496
825,995
563,257
163,917
399,340
845,976
571,608
166,056
405,552
847,154
567,595
162,309
405,286
844,850
570,414
169,132
401,282
135,392
28,388
232,818
44,727
223,404
33,124
234,268
38,441
247,304
36,435
257,834
35,693
262,738
37,651
274,368
39,541
279,559
38,976
274,436
36,769
82,363
24,641
136,192
51,899
142,415
47,865
150,693
45,134
164,809
46,060
175,941
46,200
178,017
47,070
187,742
47,085
193,255
47,328
190,645
47,022
MEMO
1 125 352 1 349 777 1 552 017 1 663 851 1 789 164 1 842 412 1 660 779 1 656 367 1 642 760 1 678 012
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. Beginning with data for June 2006, also
includes the Bank for International Settlements.
9. Foreign central banks and foreign central governments. Before June 2006, also includes
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
Apr.'
May'
July'
Aug.'
Sept.p
AREA OR COUNTRY
43 Total, all foreigners
2,315,606
2,911,516
3,080,496
3,234,225
3,392,113
3,491,516
3,331,109
3,391,949
3,374,498
3,406,500
44 Foreign countries
2,301,457
2,895,862
3,059,703
3,213,423
3,372,562
3,472,094
3,297,952
3,361,599
3,347,762
3,376,774
781,550
4.826
9,359
3.631
1,783
40,719
46,806
1,264
30,770
6,215
35,855
15,857
22,429
952
41,673
9,902
7,082
110,626
13,748
332,528
20,802
162
24,561
1,050,895
4,355
13,512
3,147
1,088
81,852
54,822
1,178
64,050
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
36,129
1,229,044
3,604
16,022
1,537
3,612
71,489
58,872
1,200
68,660
7,075
61,065
14,465
27,921
2,716
101,335
9 535
4,771
139,857
9,896
563,363
29,559
119
32,371
,332,260
5,460
18,150
2,073
1,603
85,477
61,600
1,276
68,618
5,899
60,389
20,718
40,391
3,804
91,133
11,121
5,833
138,472
10,650
630,501
28,416
97
40,579
1,451,104
5,477
15,245
2,007
3,476
107,503
56,312
1,490
69,136
5,985
65,351
27,720
45,478
3,223
95,081
7,805
4,513
194,443
10,787
670,324
29,212
98
30,438
1,506,331
5,336
14,137
1,692
2,108
106,596
56,526
1,520
70,582
6,720
66,332
27,929
49,275
2,332
93,490
7,592
5,189
207,104
10,936
704,319
28,365
113
38,138
1,298,152
6,218
14,281
1,649
3,101
73,665
60,281
1,293
74,447
6,295
66,026
22,981
61,452
3,012
76,289
8,907
3,681
81,675
7,858
675,502
27,559
196
21,786
1,269,809
5,817
16,760
1,833
1,040
78,136
60,380
1,358
74,665
6,846
67,943
26,297
55,473
3,247
69,530
9,103
3,170
51,706
8,608
675,472
27,093
202
25,131
1,238,788
4,317
15,942
2,243
1,234
73,172
55,712
1,134
75,613
7,197
68,572
24,087
53,470
2,429
53,397
8,464
3,743
35,858
10,156
692,103
27,051
236
22,659
1,239,270
3,857
16,267
2,303
945
68,488
57,475
1,564
74,916
5,827
73,254
24,205
57,749
2,417
49,160
7 503
3,828
39,779
9,849
691,865
27,457
249
20,315
1,031,458
1,043,020
1,046,438
1,044,850
35,590
34,248
33,186
32,180
41,692
39,164
39,749
41,105
43,617
45,110
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
133,654
9,674
11,901
8,961
6,477
3,393
1,643
42,532
5,277
3,051
4,939
27,262
8,544
145,263
9,737
19,188
12,229
10,527
3,282
1,759
42,061
5,750
2,778
5,420
22,925
9,607
150,722
10,141
19,858
9,971
10,497
3,341
1,618
47,833
5,631
3,665
5,242
22,805
10,120
145,422
10,211
19,581
11,151
11,144
2,768
1,574
42,678
5,779
3,186
5,185
21,599
10,566
155,892
10,054
16,827
12,543
11,249
2,690
1,425
53,133
5,382
3,313
5,523
22,543
11,210
158,842
10,032
18,460
13,987
11,905
2,708
1,617
50,732
5,816
4,120
5,767
22,758
10,940
155,760
10,227
14,908
14,184
11,952
2,596
1,539
53,262
5,907
3,241
5,497
22,259
10,188
156,804
10,291
14,433
15,880
12,094
2,857
1,498
53,045
5,844
3,510
5,620
22,405
9,327
969,986
153,554
38,964
n.a.
739.204
96
669
8,689
1,253
27,557
1,212,209
186,097
92,577
n.a.
884.980
110
829
5,863
1,624
40,129
1,214,148
211,459
52,150
n.a.
907.910
120
916
6,397
2,830
32,366
1,287,263
224,511
55,418
n.a.
962.961
122
897
6,783
3,348
33,223
1,316,716
223,302
52,526
n.a.
995.143
123
818
8,479
2,896
33,429
1,363,140
235,630
48,125
n.a.
1.030.090
124
843
10,188
3,034
35,106
1,389,231
226,691
45,588
15,465
1,069,042
125
756
9,865
2,930
18,769
1,452,783
228,298
44,729
14,578
1,135,919
127
828
6,420
2,853
19,031
1,457,595
237,240
46,278
14,653
1,127,885
127
937
7,913
2,695
19,867
1,487,592
238,619
51,596
15,257
1,151,010
127
1,047
7,280
2,760
19,896
373,024
420,635
408,333
372,964
366,253
367,237
366,212
388,162
399,633
402,035
13,236
49,557
14,534
14,373
12,223
162,003
12,647
1,683
26,808
7,226
23,626
35,108
52,767
42,788
11,154
5,903
11,214
167,008
12,421
2,949
26,496
11,355
38,257
38,323
46,462
34,006
13,736
4,212
9,802
156,249
27,095
3,777
23,253
9,965
49,467
30,309
34,473
25,384
13,251
7,805
7,484
138,643
25,430
3,429
19,456
12,704
56,904
28,001
29,593
29,831
14,222
5,819
8,057
132,210
23,174
4,048
22,220
11,529
55,769
29,781
30,215
29,642
15,340
5,421
8,076
130,582
22,468
3,749
20,101
12,758
57,752
31,133
35,054
28,172
15,903
4,033
6,736
127,636
21,390
3,938
17,713
11,578
61,710
32,349
38,976
31,641
16,673
4,568
6,768
135,665
21,866
3,566
21,350
11,041
64,747
31,301
50,443
35,341
16,436
4,685
6,298
133,592
21,882
3,654
20,021
10,257
65,177
31,847
55,111
34,816
14,832
5,359
9,545
126,852
23,098
3,928
23,197
9,980
66,257
29,060
106 Africa
107
Egypt
108
Morocco
109
South Africa
110
Oil-exporting countries21
111
Other
13,828
2,336
376
3,715
3,498
3,903
14,580
2,711
156
3,284
4,326
4,103
20,096
4,954
138
3,049
6,858
5,097
17,957
4,355
231
3,898
4,674
4,799
17,175
4,412
211
1,766
5,443
5,343
18,113
3,425
122
1,627
7,676
5,263
18,442
4,228
154
1,602
6,918
5,540
19,799
3,409
208
1,610
6,919
7,653
19,706
2,769
198
1,914
7,830
6,995
18,157
2,145
174
1,442
8,277
6,119
112 Other countries
113 Australia
114
New Zealand22
115 All other
16,913
14,020
2,465
428
27,325
23,391
3,429
505
21,242
17,769
3,007
466
25,536
20,558
4,355
623
28,900
23,457
4,579
864
32,687
26,958
4,988
741
30,274
25,143
4,485
646
31,099
25,919
4,351
829
32,663
26,971
4,862
830
27,806
21,992
4,958
856
116 International and regional organizations
117
International23
118
Regional24
14,149
10,500
3,649
15,654
11,542
4,112
20,793
15,684
5,109
20,802
16,783
4,019
19,551
14,112
5,439
19,422
14,909
4,513
33,157
28,330
4,827
30,350
25,313
5,037
26,736
21,945
4,791
29,726
25,721
4,005
45 Europe
46
Austria
47
Belgium13
48
Denmark
49
Finland
50 France
51
Germany
52
Greece
53
Ireland
54
Italy
55 Luxembourg13
56
Netherlands
57
Norway
58 Portugal
59
Russia
60
Spain
61
Sweden
62
Switzerland
63 Turkey
64
United Kingdom
65
Channel Islands and Isle of Man14
66
Yugoslavia15
67
Other Europe and other former U.S.S.R."'
MEMO
69 Canada
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 America15
83 Caribbean
84
Bahamas
85
Bermuda
86
British Virgin Islands18
87
Cayman Islands19
88
Cuba
89 Jamaica
90
Netherlands Antilles
91
Trinidad and Tobago
92
Other Caribbean18
93 Asia
China
94
Mainland
95
Hong Kong
96
India
97
Indonesia
98
Israel
99 Japan
100
Korea (South)
101
Philippines
102
Taiwan
103 Thailand
104
Middle Eastern oil-exporting countries20 .
105
Other
n.a.
n.a.
68 European Union17
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. For data prior to June 2006, also includes the Bank for International Settlements and
the European Central Bank.
17. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain, Sweden, and the United Kingdom. Data available beginning in June 2006.
18. Before January 2001, data for "Other Latin America" and "Other Caribbean" were
combined in "Other Latin America and Caribbean." Before June 2006, data for the British
Virgin Islands were included in "Other Caribbean."
19. Beginning January 2001, data for the Cayman Islands replaced data for the British
West Indies.
20. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
21. Comprises Algeria, Gabon, Libya, and Nigeria.
22. Before January 2001, these data were included in "All other."
23. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund. Beginning with data for June 2006,
also includes the Bank for International Settlements.
48
Federal Reserve Bulletin Statistical Supplement • November 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
Apr.'
May'
July'
Aug.'
Sept.p
1 Total, all foreigners
1,322,363
1,664,223
1,864,006
1,999,618
2,085,833
2,146,807
2,042,757
2,067,994
2,056,741
2,088,281
2 Foreign countries
1,317,292
1,658,247
1,856,756
1,992,206
2,079,003
2,139,176
2,032,910
2,061,642
2,049,906
2,079,611
591,018
4.819
6,910
2.814
8,160
63,719
25,811
238
10,354
7,310
5,512
21,415
17,666
2,106
1,233
2,295
15,269
78,716
2,149
268,822
43,099
2,601
806,546
4,429
7,751
735
11,840
90,941
26,196
94
14,023
16,906
5,864
22,090
25,517
1,576
1,089
8,452
17,027
114,167
2,542
404,844
26,878
3,585
918,574
4,109
11,886
864
9,247
88,873
30,027
97
16,426
18,482
8,201
20,907
14,688
832
1,264
8,372
9,452
143,891
3,270
487,502
32,566
7,618
1,014,050
4,540
15,922
365
9,256
90,155
28,071
236
14,369
18,274
9,087
19,937
19,557
607
2,109
12,137
13,460
166,345
3,190
546,853
32,701
6,879
1,072,885
4,551
18,379
1,369
9,691
106,092
26,578
120
16,951
17,396
10,124
23,214
21,196
757
2,083
10,105
14,303
195,010
3,203
551,948
32,749
7,066
1,093,377
4,911
20,852
828
8,638
120,355
22,313
168
16,962
18,954
10,303
25,427
24,089
976
1,927
7,745
13,529
198,605
3,100
554,617
30,996
8,082
1,005,236
4,817
18,777
1,295
11,128
105,320
20,467
129
15,913
18,789
10,260
23,883
24,613
830
1,390
7,717
9,249
115,678
3,293
575,363
29,277
7,048
999,549
5,127
14,295
773
11,742
103,490
21,159
124
16,110
20,438
9,881
31,803
25,049
799
1,509
7,546
10,187
138,479
3,406
541,784
29,864
5,984
987,902
6,139
13,185
944
8,495
96,246
19,859
169
19,722
23,705
10,097
22,182
26,840
801
1,656
8,102
10,140
108,445
3,421
572,942
29,790
5,022
1,039,180
4,105
13,775
1,600
12,739
103,456
16,590
156
19,125
25,425
10,064
22,959
26,988
832
1,667
9,714
10,122
132,160
3,611
587,855
30,272
5,965
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Ireland
12
Italy
13 Luxembourg2
14
Netherlands
15
Norway
16 Portugal
17
Russia
18
Spain
19
Sweden
20
Switzerland
21
Turkey
22
United Kingdom
23
Channel Islands and Isle of Man3
24
Other Europe and other former U.S.S.R.4 . .
MEMO
816,298
829,638
25 European Union5
n.a.
26 Canada
52.140
51,088
63,422
61,060
65,488
59,073
67,075
64,944
73,623
64,486
27 Latin America
28 Argentina
29
Brazil
30
Chile
31
Colombia
32
Ecuador
33
Guatemala
34
Mexico
35 Panama
36
Peru
37
Uruguay
38 Venezuela
39
Other Latin America1"
40 Caribbean
41
Bahamas
42
Bermuda
43
British Virgin Islands'"
44
Cayman Islands
45
Jamaica
46
Netherlands Antilles
47
Trinidad and Tobago
48
Other Caribbean1"
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
51,173
2,290
15,111
6,642
2,438
582
872
14,604
2,076
1,226
464
2,273
2,595
52,478
2,246
15,901
6,565
2,902
572
986
14,766
2,173
1,188
455
2,174
2,550
54,399
2,209
16,875
6,814
2,727
542
996
15,872
2,067
1,178
425
2,104
2,590
52,418
2,350
15,370
6,983
2,593
564
956
15,438
2,090
1,232
414
2,013
2,415
54,545
2,348
15,585
6,900
2,620
541
892
17,316
2,449
1,240
412
1,989
2,253
53,978
2,569
16,290
6,503
2,549
534
845
16,517
2,341
1,194
407
2,011
2,218
55,621
2,192
18,532
6,427
2,597
549
845
16,437
2,210
1,298
353
1,946
2,235
53,382
2,170
14,386
6,758
2,671
579
883
17,088
2,314
1,321
517
2,369
2,326
492,705
73,709
14,889
391,524
377
n.a.
6,629
665
4,912
596,931
80,183
33,294
469,166
351
n.a.
5,554
755
7,628
620,474
113,458
17,846
475,227
444
n.a.
4,444
907
8,148
678,014
126,898
22,246
514,321
465
n.a.
4,517
771
8,796
703,505
134,896
20,092
533,145
454
n.a.
4,464
854
9,600
737,590
157,913
19,589
538,967
523
n.a.
4,557
870
15,171
704,691
161,802
19,776
511,093
569
2,760
4,276
902
3,513
737,004
158,311
23,687
539,188
520
2,149
7,127
787
5,235
711,006
156,648
22,208
515,122
674
2,277
8,009
730
5,338
689,073
135,513
21,574
519,579
665
2,179
3,924
745
4,894
119,562
142,656
190,589
172,316
169,998
181,411
185,805
190,837
204,827
216,927
4,134
7,190
1,588
838
5,122
62,059
11,395
1,693
9,659
989
6,782
8,113
9,267
5,622
2,117
555
1,326
82,207
15,531
993
10,589
1,144
7,022
6,283
14,780
8,398
2,518
440
4,288
106,377
17,274
1,790
8,626
7,796
12,330
5,972
16,910
7,499
2,063
438
3,243
100,944
11,991
1,202
6,422
6,837
9,291
5,476
15,341
6,947
2,549
436
5,414
96,269
16,263
954
5,389
6,937
8,323
5,176
14,885
7,623
2,043
433
5,580
105,058
17,463
917
6,027
8,881
8,104
4,397
19,556
9,768
1,835
551
3,986
103,439
17,509
1,247
4,004
7,825
10,294
5,791
21,194
9,044
1,985
378
4,077
104,852
20,639
846
4,558
7,315
10,805
5,144
19,603
9,438
2,174
367
5,199
119,158
18,658
1,093
4,790
7,016
11,427
5,904
15,223
9,190
2,646
439
4,851
124,121
28,978
1,094
5,563
7,342
10,585
6,895
62 Africa
63 Egypt
64
Morocco
65
South Africa
66
Oil-exporting countries9
67
Other
1,453
236
46
453
147
571
1,262
228
53
318
223
440
1,621
422
63
331
317
488
1,597
431
62
312
294
498
1,686
470
55
296
297
568
1,751
466
81
338
303
563
1,948
587
75
435
297
554
2,073
608
59
576
312
518
1,888
603
69
309
332
575
1,980
601
48
282
323
726
68 Other countries
69
Australia
70
New Zealand10
71
Allother
8,897
8,037
819
41
10,386
9,695
609
82
10,903
10,184
541
178
12,691
11,817
541
11,042
10,117
589
336
13,556
12,634
469
453
13,610
12,381
827
402
13,257
12,480
615
162
15,039
14,173
656
210
14,583
13,464
901
218
72 International and regional organizations"
5,071
5,976
7,250
6,830
7,631
9,847
6,352
6,835
8,670
49 Asia
China
50
Mainland
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Taiwan
59
Thailand
60
Middle Eastern oil-exporting countries5 . . .
61
Other
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. For data prior to June 2006, also includes the Bank for International Settlements and the
European Central Bank.
5. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain, Sweden, and the United Kingdom. Data available beginning in June 2006.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and Caribbean." Before June 2006, data for the British
Virgin Islands were included in "Other 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. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
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
2006
Type of claim
2003
2004
2005
Mar.
1 Total claims reported by banks
Apr.
May
2 085 833
76.322
1,578,374
431,137
2 146 807
82,403
1,615,771
448,633
June'
July'
Aug.'
2 067 994
85,304
1,553,717
428,973
2 056 741
85.213
1,543,341
428,187
Sept.p
1,596,965
2,026,841
2,288,369'
2,467,987'
1 322 363
53.328
979,597
289.438
1 664 223
71,892
1,187,954
404,377
1 864 006
72,871
1,391,180
399,955
1 999 618
73,577
1,499,158
426,883
274.602
129,787
71.791
63,225
9,799
362,618
152,520
107,533
88,423
14,142
424,363'
172,727'
91,196
140,863
19,577
468,369'
202,235'
91,927
153,504
20,703
11 Non-negotiable deposits7
12 Negotiable CDs7
13 Other short-term negotiable
500,085
376
668,255
3,970
747,930
2,804
830,978
2,679
862,604
2,210
922,198
1,990
898,755
2,572
891,853
2,829
882,713
3,225
898,640
3,474
14 Other claims7
5,328
816,574
934 166
3,888
988,110
1 097 873
7,276
1,105,996
1 303 731
9,783
1,156,178
1 433 195
11,883
1,209,136
1 486 861
11,619
1,211,000
1 534 484
8,509
1,132,921
1 479119
10,787
1,162,525
1 442 023
10,888
1,159,915
1 451 588
7,675
1,178,492
1 514 529
344,753
479,422
481,470
516,346
505,617
521,137
504,427
520,119
524,126
521,788
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
2,550,690
2 042 757
82,941
1,539,635
420,181
2,645,767
507,933
218,775
109,700
155,604
23,854
2 088 281
96.296
1,574,116
417,869
557,486
200,929
141,757
191,609
23,191
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 • November 2006
3.22
LIABILITIES TO UNAFFILIATED FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.'
1 Total
67,664
73,700
92,009
84,565
71,802
66,468
73,912
75,153
76,953
By type
2 Financial liabilities
3
Short-term negotiable securities'
39,561
n.a.
43,610
14,002
62,847
11,759
51,809
9,027
35,918
9,576
29,347
5,438
36,451
6,252
34,274
5,021
32,479
5,520
51,088
42,782
23,909
30,199
n.a.
n.a.
8,561
10,099
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
14
15
16
17
18
19
20
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
n.a.
n.a.
n.a.
n.a.
18,844
20,717
n.a.
n.a.
n.a.
n.a.
n.a.
15,515
28,095
1,431
10,372
11,425
2,493
2,374
29,575
33,272
2,399
9,067
18,337
1,564
1,905
19,378
32,431
2,296
11,159
15,532
1,379
2,065
21,917
14,001
1,786
4,604
2,202
1,222
4,187
17,794
11,553
1,860
4,017
2,741
1,401
1,534
22,090
14,361
2,354
4,052
2,284
2,018
3,653
19,198
15,076
1,407
6,242
2,676
1,338
3,413
18,516
13,963
1,064
3,469
2,888
1,212
5,330
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
38,690
775
1,349
2,911
363
514
29,473
35,304
590
1,550
5,276
413
282
25,017
22,474
633
1,087
2,832
128
114
13,091
16,799
547
1,044
2,425
379
53
9,861
20,203
342
761
2,533
406
122
10,220
16,719
451
597
3,062
432
237
9,648
16,177
340
1,328
2,410
453
289
10,005
MEMO:
21
Euro area3
22
Canada
23
24
25
26
27
28
29
30
31
32
33
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
34
35
Africa
Oil-exporting countries'"
36
All other7
11,211
591
1,239
2,433
2,283
2,080
2,058
2,276
1,534
1,281
1,504
23
990
65
365
n.a.
31
4,235
0
711
242
n.a.
3,114
34
3
16,196
0
8,715
208
n.a.
7,178
26
18
9,076
0
801
263
n.a.
7,871
30
8,012
0
115
240
n.a.
7,569
8
0
6,679
0
77
69
n.a.
6,489
28
0
7,553
0
991
70
n.a.
6,446
25
1
9,613
0
769
56
n.a.
8,744
23
0
8,568
0
238
69
n.a.
8,189
28
0
2,932
1,832
14
2,547
1,826
36
4,724
1,648
36
4,347
1,365
33
3,211
1,161
3,640
1,304
35
5,323
1,383
173
5,321
1,083
206
5,612
1,265
647
131
91
123
92
131
94
132
95
107
96
122
96
997
97
1,022
98
Nonbank-Reported Data
3.22
LIABILITIES TO UNAFFILIATED 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.'
37 Commercial liabilities
38 Trade payables
39
Advance payments and other liabilities .
40
41
42
43
44
45
46
47
48
49
50
51
52
53
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 . . .
28.103
14,699
13,404
30,090
17,174
12,916
29,162
18,181
10,981
32,756
21,321
11,435
35,884
22,497
13,387
37,121
23,785
13,336
37,461
23,050
14,411
40,879
25,899
14,980
44,474
29,275
15,199
26,243
1,860
n.a.
n.a.
n.a.
n.a.
n.a.
27,632
2,458
199
787
606
209
657
25,811
3,351
224
1,058
704
296
1,069
29,533
3,223
200
1,026
634
314
1,049
33,010
2,874
143
1,028
585
119
999
34,335
2,786
163
1,041
397
286
899
34,637
2,824
171
1,009
477
309
858
37,931
2,948
182
1,142
484
300
840
40,999
3,475
742
1,158
415
304
856
8,257
141
765
781
590
433
2,649
9,821
159
900
855
384
1,367
3,025
9,030
123
1,019
1,024
305
564
3,407
9,861
100
1,600
1,020
322
739
3,376
10,729
103
1,669
965
402
893
3,203
11,344
124
1,816
1,006
329
1,106
3,442
10,574
109
1,870
1,113
489
1,113
2,882
11,173
86
1,960
1,092
580
708
3,414
11,594
138
1,921
1,245
422
911
3,325
4,200
4,198
3,730
1,588
2,166
2,145
2,143
2,179
2,836
2,375
2,846
3,608
3,073
51
538
253
36
n.a.
1,170
177
3,406
14
513
233
n.a.
40
1,298
329
4,276
5,360
79
774
127
n.a.
76
2,210
522
5,228
74
621
143
n.a.
100
1,921
738
5,748
70
713
218
n.a.
76
2,209
680
5,752
82
515
113
n.a.
101
1,942
433
4,894
66
511
97
n.a.
29
2,154
640
219
2,745
499
7,101
64
851
220
n.a.
629
2,798
467
13,382
4,292
3,979
13,311
4,370
3,148
12,239
4,221
2,910
14,339
5,317
3,855
16,127
5,671
4,221
16,408
5,892
3,862
17,427
5,971
3,986
19,875
6,146
5,329
20,395
6,182
5,344
827
405
782
372
947
424
935
447
1,009
627
851
459
916
493
714
342
1,296
755
MEMO
54
55
Euro area3
Canada
56
57
58
59
60
61
62
63
64
65
66
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
67
68
Africa
Oil-exporting countries'"
69
All other7
1. Data available beginning March 2003. For data on borrowings and repurchase agreements, data available on a consistently defined basis beginning in June 2006.
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).
5,286
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
5,434
52
Federal Reserve Bulletin Statistical Supplement • November 2006
3.23
CLAIMS ON UNAEFILIATED FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.'
1 Total
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
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
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
102,566
100,916
143,232
146,034
129,812
135,339
144,950
129,493
133,927
71,389
n.a.
n.a.
67,347
35,465
3,204
110,517
47,270
9,892
113,673
51,735
11,912
97,140
48,354
8,894
104,213
49,477
11,845
111,394
50,149
13,180
94,843
40,565
12,365
97,425
41,167
12,787
n.a.
44,064
157
28,678
103
53,355
94
50,026
173
39,892
42,891
65
48,065
2
41,913
18
43,471
n.a.
n.a.
14,199
7,298
n.a.
n.a.
n.a.
n.a.
65,070
6,319
n.a.
n.a.
n.a.
n.a.
n.a.
57,894
9,453
912
2,776
3,242
831
1,692
67,445
43,072
1,329
20,651
9,219
7,345
4,528
69,849
43,824
7,216
17,593
7,687
6,111
5,217
61,778
35,362
10,031
9,331
7,527
3,826
4,647
66,405
37,808
10,837
10,256
8,695
3,880
4,140
75,802
35,592
9,348
9,308
7,635
3,537
5,764
60,724
34,119
7,823
8,160
8,325
3,510
6,301
74,257
23,168
8,549
4,953
4,726
610
4,330
29,018
722
3,247
4,245
3,648
383
10,663
28,970
391
3,049
2,859
2,789
617
11,438
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
38,627
1,930
4,593
3,040
1,696
1,185
17,414
41,844
784
4,323
1,967
3,271
1,249
21,870
42,736
1,743
2,752
2,729
3,033
1,152
22,111
36,023
1,286
1,639
2,315
3,148
1,441
20,096
36,998
580
2,867
2,453
1,721
1,409
22,340
17,012
15,067
MEMO:
23
24
Euro area3
Canada
25
26
27
28
29
30
31
32
33
34
35
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
36
37
Africa
Oil-exporting countries'"
38
All other7
5,013
5,311
6,412
11,361
11,905
14,290
13,372
12,052
12,823
29,612
1,038
724
2,286
21,528
2,921
104
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
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
38,915
3,436
1,316
1,480
n.a.
30,437
1,384
62
39,763
3,676
1,113
1,664
n.a.
30,263
1,950
156
45,063
1,590
1,590
1,950
n.a.
36,355
2,019
159
37,323
2,368
1,572
1,655
n.a.
29,238
1,424
163
37,324
3,802
1,597
1,703
n.a.
28,077
1,182
148
5,358
1,277
79
5,317
1,194
158
6,840
993
137
7,680
981
133
6,120
784
114
6,546
610
93
7,223
568
242
6,566
496
251
7,564
665
751
395
25
419
12
306
8
290
16
282
23
345
55
1,291
37
1,268
36
1,123
36
1,448
1,291
1,115
Nonbank-Reported Data
3.23
CLAIMS ON UNAEFILIATED FOREIGNERS
the United States—Continued
53
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.'
39 Commercial claims
40
Trade receivables
41
Advance payments and other claims .
31.177
26,385
4,792
33,569
28,618
4,951
32,715
29,229
3,486
32,361
27,844
4,517
32,672
28,576
4,096
31,126
27,535
3,591
33,556
29,231
4,325
34,650
30,178
4,472
36,502
32,185
4,317
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling . .
Japanese yen
All other currencies
26,481
4,696
n.a.
n.a.
n.a.
n.a.
n.a.
25,494
8,075
1,557
1,542
1,187
589
3,200
27,439
5,276
512
1,561
1,586
238
1,379
27,608
4,753
499
1,530
1,110
239
1,375
28,347
4,325
407
1,442
1,098
153
1,225
27,417
3,709
372
1,227
780
206
1,124
29,898
3,658
481
1,335
706
187
949
30,511
4,139
444
1,777
736
126
1,056
32,849
3,653
465
1,424
692
150
922
14,187
269
3,164
1,202
1,490
503
3,727
14,552
247
2,816
1,273
395
1,921
3,928
13,457
257
2,261
1,401
494
1,528
3,742
13,369
366
2,865
1,476
490
1,283
3,295
13,096
402
2,233
1,477
461
1,319
3,119
12,183
396
2,023
1,438
339
1,358
3,053
12,084
470
2,311
1,509
354
724
2,677
14,479
480
2,308
1,472
648
743
4,601
14,023
419
2,404
1,675
480
666
4,076
Euro area3
8,849
7,340
57
Canada
2,790
3,070
2,017
2,137
2,139
2,001
2,750
2,323
2,721
58
59
60
61
62
63
64
65
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
n.a.
52
1,339
230
6,477
55
650
935
n.a.
160
2,018
319
6,509
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
6,757
41
648
6,638
32
731
865
n.a.
200
2,154
373
7,830
39
1,161
981
n.a.
488
1,896
350
66
67
68
Asia
Japan
Middle Eastern oil-exporting countriesf
7,324
2,341
818
7,352
1,757
888
8,943
1,855
1,071
8,447
1,918
1,146
9,245
1,930
1,317
8,561
1,717
1,271
10,073
2,128
1,558
9,196
2,167
1,419
10,163
2,159
1,843
69
70
Africa
Oil-exporting countries'"
584
95
636
138
629
154
767
205
873
226
788
234
830
258
917
313
964
315
71
All other7
42
43
44
45
46
47
48
49
50
51
52
53
54
55
By area or country
Commercial claims
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
MEMO
2,806
1. Data available beginning March 2003. For data on loans and repurchase agreements,
data available on a consistently defined basis beginning in June 2006.
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).
6,739
1,009
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
7,922
n.a.
61
2,089
1,097
54
Federal Reserve Bulletin Statistical Supplement • November 2006
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.Sept.
Apr/
Mayr
July'
Aug.r
Sept.p
478,553
468,121
527,451
523,071
492,032
482,392
U.S. corporate securities
6,593
2,704
6,590
3,396
2,702
1,168
-3,971
1,178
10,430
1,625
4,377
207
9,637
-682
-63
5,570
646
3,936
-707
-172
3,387
-1,024
-44
-920
-43
-535
167
-1,522
3,324
-639
-87
-262
-117
101
124
-1,314
1,920
-1,621
-912
1,214
1,955
-766
-517
-2,878
67
762
793
483
120
1,979
-1
41
583
71
-192
-3,483
190
-870
-4,303
32
237
13
-347
1,021
1,195
2,754
-140
-5,164
771
1,323
-22
305
447
-5
-27
4,032
-67
206
-87
345
415
17
138
3,009
136
1,955
-133
3,563
1,078
-315
12
482
-310
-4
254
6,000
375
2,239
-819
-182
252
169
513
2,980
-149
14
-208
-2,013
491
48
-50
26
434
1
44
10,190
167
893
-299
25
93
267
-222
9,957
-148
355
68
1,564
-300
-2,285
-52
-252
-790
-87
132
1,043,088
817,582
106,328
87,405
116,264
101,127
138,544
103,928
114,660
91,738
113,735
95,265
117,193
85,976
115,561
89,495
80,417
954
87,221
8,768
19,204
1,628
19,571
-348
-876
-2,360
2,153
4,534
1,697
-1,194
15,208
-180
1,292
-98
729
6,485
-320
-307
-778
2,832
-41
998
38,016
5,757
7,675
-3,278
1,660
7,924
-2,326
1,334
18,199
350
16,549
-103
15,414
1,789
8,399
-528
1,050
72
281
72
62,215
3,073
11,747
-4,972
646
9,586
-1,817
2,501
38,730
1,054
9,779
1,663
3,289
7,814
1,565
-306
418
968
196
700
15,005
-250
267
1,319
160
817
-473
570
12,450
70
3,170
485
-32
975
-339
-96
-20
-783
1,209,381
982,980
1,098,131
878,697
3 Net purchases, or sales (-) .
28,476
80,374
4 Foreign countries
5
Of which: by foreign official institutions . .
28,616
2,239
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters1
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
609,929
607,225
516,363
497,140
4,740,672
4,660,298
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
456,731
450,138
4,528,209
4,440,946
3,862,043
3,833,567
1 Foreign purchases
2 Foreign sales
551,041
555,012
10,432
9,640
26 International and
regional organizations2
U.S. GOVERNMENT AGENCY BONDS
27 Foreign purchases
28 Foreign sales
29 N e t p u r c h a s e s , or sales ( - ) . . .
226,401
225,506
18,923
15,137
34,616
22,922
18,470
31,217
26,066
30 Foreign countries
31
Of which: by foreign official institutions .
225,522
20,750
219,161
31,589
225,252
63,369
18,888
3,862
15,106
5,509
34,545
8,521
22,776
5,209
18,556
11,844
31,351
9,764
26,062
84,230
5,649
-239
-123
4,224
799
-163
3,008
53,183
575
5,980
8,591
29,593
4,353
92,077
16,387
11,289
44,442
61
637
55,564
-398
500
5,938
3,591
1,583
1,259
-1,971
40,819
54
12,553
15,473
17,304
1,810
115,952
23,026
16,289
59,201
-103
608
67,441
-1,060
3,208
4,019
5,322
-448
-356
39,541
42
8,596
7,074
25,906
6,125
109,099
33,436
25,015
39,037
-84
1,095
9,420
35
415
776
-105
-134
-154
-208
6,875
-227
1,538
124
1,475
-89
6,542
2,833
2,599
-138
0
-122
7,433
14
93
116
33
608
86
7
4,494
-74
184
406
-2,726
1,041
8,594
3,467
1,980
3,205
1
173
9,603
28
-711
-245
502
696
92
-48
5,345
-42
789
1,290
6,024
1,030
15,739
3,545
2,685
8,724
-11
81
11,079
-7
-404
370
1,463
595
-363
-90
7,406
-45
1,895
894
-2,843
369
11,179
5,345
2,395
3,495
31
172
-2,853
-44
128
-284
455
662
-62
40
-3,043
-59
1,135
3,486
4,406
925
11,125
4,133
2,207
4,165
-25
357
10,288
-19
344
84
481
323
52
21
5,251
284
400
-267
5,720
1,443
13,848
4,948
3,699
3,000
-19
-62
759
436
819
1,028
-39
21
4,708
13
919
810
3,967
575
11,056
2,545
1,422
5,481
4
17
1,171,415
861,915
1,277,006
904,784
1,085,207
743,918
140,421
91,239
108,176
70,820
134,568
92,592
127,324
87,295
90,218
71,181
122,925
85,503
144,364
91,650
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
7,872
8,714
52 International and
regional organizations2
CORPORATE BONDS 3
53 Foreign purchases
54 Foreign sales
55 Net purchases, or sales (-)
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
Foreign countries
Of which: by foreign official institutions .
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
78 International and
regional organizations3
341,289
49,182
37,356
41,976
40,029
19,037
37,422
52,714
307,900
11,464
369,370
19,035
340,028
19,582
48,912
2,630
37,310
1,675
41,869
2,359
40,041
1,575
19,112
1,004
36,985
2,748
52,740
1,835
172,033
5,838
7,608
12,247
10,222
5,787
2,092
3,964
107,060
5,902
6,115
19,858
47,952
349
59,781
12,337
5,714
33,463
451
1,361
241,709
3,625
13,156
6,488
12,184
4,610
2,772
3,742
168,881
16,570
2,279
7,203
40,488
1,022
69,910
26,130
11,012
25,617
394
6,365
216,121
-168
12,507
5,173
9,964
4,408
1,580
5,864
5,864
8,563
5,683
7,614
50,129
4,441
49,079
22,911
10,008
6,550
198
6,763
32,226
409
1,040
729
1,032
377
479
816
26,530
622
1,971
799
3,945
797
6,507
2,648
1,077
1,429
90
2,577
20,790
-1,430
791
922
1,156
882
247
39
15,409
788
372
554
7,669
353
5,747
2,720
1,098
795
61
1,764
29,994
1,970
1,116
1,064
12
1,694
130
-515
22,698
1,470
905
669
3,543
707
5,929
2,823
1,366
303
-62
184
26,302
-200
798
709
1,620
689
453
1,480
18,833
1,233
1,147
1,030
4,939
938
4,869
2,293
1,140
-166
60
756
8,466
-412
1,535
-369
788
-154
76
1,220
6,073
-283
-604
438
5,737
633
4,520
1,529
1,411
933
22
-100
18,930
-1,458
2,910
31
423
-386
145
1,015
14,345
-81
440
1,578
8,526
946
6,473
2,319
1,006
2,055
116
-24
39,503
162
3,029
836
3,118
1,972
74
635
25,013
3,108
739
1,024
7,145
-486
3,982
1,869
669
268
63
770
1,600
2,852
309,500
Securities Holdings and Transactions
3.24
55
FOREIGN TRANSACTIONS IN SECURITIES—Continued
Millions of dollars
2006
Transaction, and area or country
2004
2006
2005
Jan.Sept.
Mar.
Apr.
May
June
July
Aug.
Sept.
7,149
272,938
265,789
-9,366
266,526
275,892
Foreign securities
79 Stocks, net purchases or sales (-) 4
-84,970
1,664,076
1 749 046
80 Foreign purchases
82 Bonds, net purchases or sales (-) 4
-127,296
2,240,104
2 367 400
-52,368
2,543,978
2 596 346
-11,702
294,550
306,252
-8,098
268,954
277,052
-4,850
371,188
376,038
1,119
307,312
306,193
-2,996
246,861
249,857
-67,872
-45,095
-86,246
-7,154
-8,119
-15,644
-10,339
-18,759
-9,877
-13,542
83 Foreign purchases
1,459,043
1 526 915
1,459,882
1 504 977
1,278,637
1,364,883
165,624
172,778
129,758
137,877
168,141
183,785
139,733
150,072
119,475
138,234
135,072
144,949
139,701
153,243
85 Net purchases, or sales (-) of stocks and bonds4
-152,842
-172,391
-138,614
-18,856
-16,217
-20,494
-9,220
-21,755
-2,728
-22,908
-141,025
-124,892
-2,516
-111,464
-5,492
-952
10,136
-12,814
-20,640
1,591
-8,602
-165,403
-81,669
-15,952
-46,382
-4,559
-23,487
5,474
-45,551
-32,842
-1,668
-13,943
-143,133
-124,117
-27,102
-94,963
-14,754
-5,321
8,372
-1,858
8,079
-1,382
-4,073
-19,294
-11,697
842
-12,264
-2,552
-2,057
1,557
-3,820
-368
-387'
-338
-16,300
-7,975
-6,200
-3,045
-3,131
99
1,598
-3,803
434
-1,312'
-1,776
-20,435
-22,514
-2,506
-18,666
-853
219
-2,157
4,771
4,515
128'
-29
-9,171
-20,404
-8,326
-11,491
2,051
405
1,644
7,650
3,178
155'
-672
-21,384
-24,417
-9,013
-16,910
-1,475
617
-408
2,933
1,129
320'
1,046
-5,478
-9,509
1,923
-8,487
-3,291
987
974
5,337
2,045
43'
-19
-24,949
-21,032
-3,468
-17,351
-854
76
669
-2,308
-801
136
-1,636
-11,817
-6,988
4,519
438
83
-371
2,750
2,041
87 Europe
89
United Kingdom
91 Latin America
93 Asia
95 Africa
97 Nonmonetary international and
regional organizations2
1. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
2. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
-59
-49
3. Includes state and local securities. Also includes issues of new debt securities sold
abroad by U.S. corporations organized to finance direct investment abroad.
4. Net foreign sales (-) of foreign securities are equivalent to net U.S. purchases of foreign
securities.
5. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.Sept.
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Norway
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man
Other Europe and former U.S.S.R. . .
Canada
18
19
20
21
22
Latin America
Brazil
Mexico
Venezuela
All other Latin America
23
Caribbean
24
25
26
27
28
29
30
Asia
China, Mainland
Hong Kong
Japan
Korea
Middle East Oil Exporters2
All other Asia
31
Africa
32
African oil exporters3
33
Other countries
34
International and regional organizations
May'
Aug.'
Sept.p
114,477
1,993
6,617
44,151
351,360
201,140
335,591
68,475
113,723
37,240
2,319
-7,255
2,950
10,961
7,425
-13,635
27,501
-4,702
6,246
8,240
44,272
16,886
-363
7,706
88,431
118
-10,219
8,804
933
-575
-3,153
10,046
3,236
5,342
78,661
1,175
-5,937
16,098
173,638
500
9,559
14,497
1,246
2,046
-6,095
6,414
1,832
-4,904
134,118
419
14,006
21,419
49,875
607
-9,112
1,927
1,360
-451
-1,317
-10,291
1,590
-183
61,318
-28
4,455
21,303
4,950
162
-1,155
-1,878
365
127
434
-10,535
796
94
16,077
155
308
1,158
-13,818
434
-1,875
1,413
-1,078
140
-138
-2,387
181
121
-11,064
-473
908
1,218
944
19
1,249
260
1,224
5
-94
-11,545
108
-16
8,343
242
1,149
4,512
22,782
-345
-1,200
1,198
701
-551
526
-6,493
10
59
26,306
1
2,570
594
-2,614
108
-2,356
1,200
84
-1,100
7,497
191
-289
-11,383
76
3,361
809
14,190
113
-1,803
818
1,475
-550
-830
4,003
32
238
10,626
-128
196
5,801
7,017
-370
-2,430
1,154
-521
595
729
1,922
-547
-438
6,842
-235
316
1,948
11,018
1,543
8,352
-15
1,138
23,368
12,269
9,756
518
825
20,447
16,196
5,400
-71
-1,078
5,031
-1,361
5,633
95
664
-142
-895
1,027
-29
-245
4,952
2,468
2,690
17
-223
-3,291
424
-4,115
1
399
-1,548
-1,643
675
-48
-532
10,214
11,244
-1,670
-18
658
3,265
1,990
592
-22
705
1 Total reported
2 Foreign countries
3
Of which: by foreign official institutions
Apr.'
22,526
46,401
-25,459
5,255
-904
-3,089
2,482
8,464
-3,291
-11,731
214,788
18,895
1,079
166,377
5,856
9,041
13,540
67,377
37,369
12,313
-5,955
1,459
2,063
20,128
46,363
28,067
13,625
-6,556
9,128
6,619
-4,520
-14,792
1,431
1,702
-14,185
287
1,020
-5,047
17,169
3,885
2,751
3,905
382
611
5,635
-409
1,143
-868
1,685
623
728
-3,720
4,602
3,098
431
1,268
1,019
1,606
-2,820
1,034
1,728
-182
-747
1,220
133
-1,118
16,200
4,953
1,961
10,737
-922
-540
11
-550
1,501
-898
-3,441
2,420
-81
-51
677
249
2,222
2,027
3,326
3,154
472
147
286
366
122
258
406
769
460
417
414
101
163
-2,178
1,166
-2,132
245
-859
393
-74
-359
744
719
2,952
754
-326
406
760
-488
371
-121
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. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
3. Comprises Algeria, Gabon, Libya, and Nigeria.
4. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
56
Federal Reserve Bulletin Statistical Supplement • November 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
2006
Item
2003
2004
2005
Apr.
May
June
July
Aug.
Sept.
0.7399
2.2493
1.1137
8.0042
5.8897
1.2661
7.7636
45.89
114.63
3.6638
11.393
0.6190
6.2070
1.5912
6.9738
954.45
103.525
7.2949
1.2321
32.440
38.349
1.8435
2,144.60
0.7528
2.1883
1.1294
7.9897
5.8826
1.2681
7.7734
46.37
115.77
3.6679
10.983
0.6178
6.2617
1.5837
7.0688
950.81
103.957
7.2654
1.2376
32.617
37.969
1.8443
2,144.57
0.7631
2.1553
1.1182
7.9722
5.8236
1.2810
7.7762
46.45
115.92
3.6730
10.874
0.6348
6.2423
1.5754
6.9503
960.95
103.669
7.1890
1.2318
32.761
37.587
1.8941
2,144.60
0.7549
2.1679
1.1161
7.9334
5.8633
1.2722
7.7825
46.01
117.21
3.6699
10.989
0.6551
6.5008
1.5803
7.4465
952.29
102.595
7.2844
1.2455
32.904
37.427
1.8839
2,144.60
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
0.6524
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
0.5822
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
1.6347
1,613.43
0.7365
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
0.6643
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
1.8330
1,886.13
0.7627
2.4352
1.2115
8.1936
5.9953
1.2449
7.7775
44.00
110.11
3.7869
10.894
0.7049
6.4412
1.6639
6.3606
1,023.75
100.383
7.4710
1.2459
32.131
40.252
1.8204
2,107.13
0.7369
2.1281
1.1441
8.0143
6.0798
1.2273
7.7561
44.82
117.07
3.6626
11.049
0.6220
6.3922
1.6008
6.0811
952.60
102.635
7.6005
1.2830
32.288
37.952
1.7680
2,144.60
0.7639
2.1697
1.1100
8.0131
5.8398
1.2767
7.7538
45.20
111.73
3.6091
11.091
0.6311
6.1040
1.5755
6.3128
940.82
102.838
7.3050
1.2190
31.737
37.947
1.8687
2,144.55
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
109.83
84.05
107.45
80.78
108.76
81.67
108.51
82.09
107.77
81.33
108.07
81.75
143.54
143.39
138.90
135.80
135.56
137.38
135.91
135.39
135.39
104.27
97.56
99.64
90.60
98.10
90.49
98.27
92.10
96.45
88.66
97.85
89.83
97.85
90.61
97.17
89.75
96.83
89.91
122.47
121.11
117.34
115.42
115.79
117.65
116.50
116.03
114.93
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. dollars 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.
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
June 30, 2005
September 30, 2005
December 31,2005
March 31,2006
June 30, 2006
September
December
March
June
September
2005
2005
2006
2006
2006
58
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks, 4.23
November 2005
February 2006
May 2006
August 2006
February
May
August
November
2006
2006
2006
2006
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
September 30,2005
December 31,2005
March 31,2006
June 30, 2006
February
May
August
November
2006
2006
2006
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
2003
2004
2005
2006
A70
70
60
60
Bulletin
Supplement
Supplement
Supplement
September
September
September
September
2003
2004
2005
2006
A73
73
63
63
Bulletin
Supplement
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,
1996-2002
1997-2003
1998-2004
1999-2005
4.34-4.411
4.42-4.45
4.46-4.48
Community development lending reported under the Community Reinvestment Act, 4.49
2002
2003
2004
2005
*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 • November 2006
4.23
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, August 7-11, 2006
A. Commercial and industrial loans made by all commercial banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
7.05
5.86
6.46
7.02
7.89
75,727
5,036
10,541
33,679
14,882
470
1.425
902
579
289
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
8.05
6.78
7.32
8.06
8.73
22,104
771
1,715
10,520
4,818
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
6.13
5.48
5.94
6.05
6.75
16 2 to 30 days
17
Minimal risk
18 Low risk
19
Moderate risk
20
Other
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
26.9
7.9
15.0
24.9
38.2
80.2
83.9
81.8
76.3
89.0
9.2
4.5
8.3
10.2
10.2
7.4
17.8
2.6
3.8
2.9
66.8
32.1
51.5
59.2
84.9
93.2
93.3
91.7
94.6
93.0
8.7
10.8
8.3
9.7
12.9
.6
2.9
9.8
52.3
43.2
76.4
77.4
24.7
40.2
7.9
.3
4.8
7.1
8.8
59.6
78.1
77.9
39.6
76.3
9.8
.1
7.5
18.4
8.9
501
493
402
548
324
29.1
14.7
13.1
26.6
42.0
33.7
60.0
60.2
30.0
32.2
9.4
3.4
5.0
9.2
11.3
84.4
94.3
77.9
90.3
88.5
7.5
3.2
4.7
8.4
7.6
710
413
372
1,021
424
35.7
55.6
49.4
26.7
53.8
17.7
48.1
26.6
20.3
14.4
6.9
15.7
3.3
3.3
15.2
87.0
95.5
94.1
91.8
94.3
10.6
18.3
11.5
9.3
12.8
299
178
532
373
418
51
46
60
50
48
59.2
66.2
76.7
48.4
67.0
21.3
12.8
7.3
23.6
11.0
39.5
29.5
58.8
39.1
46.5
76.1
88.9
49.5
78.7
84.5
9.1
7.1
6.4
8.8
12.8
Weightedaverage risk
rating3
Weightedaverage
maturity/
repricing
interval2
84.1
71.7
46.1
16.8
8.0
11.2
22.3
31.0
70.1
68.4
35.7
7.5
84.1
90.4
88.5
72.7
7.0
9.5
11.7
7.7
91.1
76.1
10.5
8.6
Secured by
collateral
Subject to
prepayment
penalty
566
160
377
634
515
35.8
18.2
25.5
27.8
61.1
24.7
61.4
48.2
18.1
18.1
230
681
290
306
148
709
371
633
767
703
57.0
54.6
52.8
42.5
80.7
20,980
3,171
4,029
9,962
2,595
1.924
18.643
2.714
1.924
1.047
159
5
74
135
123
6.61
5.93
6.67
6.40
7.23
12,711
374
2,161
5,200
2,641
597
1.347
1.246
812
270
21 31 to 365 days
22
Minimal risk
23 Low risk
24
Moderate risk
25
Other
7.04
6.35
6.18
7.13
7.91
15,462
612
1,937
6,036
3,728
850
447
1.377
878
923
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
7.88
7.57
7.82
7.72
8.36
4,242
84
559
1,930
1,087
Days
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
Days
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1.000-9.999
10,000 or more
8.74
8.17
7.26
6.50
3,137
11,420
20,559
40,610
3.3
3.2
3.1
2.8
177
149
125
51
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
8.46
6.54
20,382
55,346
3.3
2.9
105
86
66.1
24.7
7.1
31.2
183
1110
Financial Markets
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
59
Survey of Loans Made, August 7-11, 2006—Continued
B. Commercial and industrial loans made by all domestic banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
7.30
6.32
6.72
7.04
8.37
49,581
1,882
5,634
24,766
10,096
316
564
518
437
200
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
7.94
6.98
7.33
7.78
8.70
20,000
513
1,544
9,118
4,570
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
6.21
5.53
6.18
6.09
8.52
16 2 to 30 days
17
Minimal risk ..
18 Low risk
19
Moderate risk .
20
Other
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
set*
38.8
20.2
27.2
32.6
52.5
77.5
57.8
76.9
72.4
92.7
12.0
15.0
15.1
12.4
12.0
8.1
26.8
2.8
4.4
3.0
71.2
45.8
54.8
65.8
84.3
92.5
90.0
90.8
93.8
92.6
9.2
9.4
11.6
9.1
9.2
12.5
.7
9.2
7.8
74.6
12.6
.0
30.4
12.0
3.2
11.9
1.3
15.5
8.5
46.0
33.2
1.6
48.4
29.3
91.9
28.3
31.8
38.9
29.8
14.1
640
761
477
804
458
48.3
71.9
38.0
36.4
72.7
14.2
.8
19.4
8.0
18.4
19.8
19.7
15.5
16.6
22.7
93.4
85.1
91.6
97.4
9.5
9.4
9.8
9.5
11.3
524
380
1 183
517
735
557
374
359
802
356
51.2
64.6
65.0
35.7
64.8
14.8
46.4
8.3
17.7
9.3
11.7
17.9
4.3
5.9
20.4
94.6
92.1
90.1
94.1
14.3
22.0
13.2
13.2
15.6
288
178
527
374
362
50
46
60
50
42
61.4
66.2
77.7
48.4
77.0
12.8
7.4
23.6
12.3
37.2
29.5
58.2
39.0
38.4
48.9
78.7
82.4
84.2
74.0
55.7
21.0
7.9
9.3
15.0
12.3
70.1
70.8
46.3
12.3
84.0
90.2
89.2
61.6
6.9
9.4
13.4
13.6
90.6
69.3
10.5
13.3
Secured by
collateral
Subject to
prepayment
penalty
573
301
567
555
590
46.9
36.3
45.1
32.7
74.5
12.2
20.4
13.7
10.4
7.6
211
494
270
268
142
581
466
614
506
675
59.6
46.7
50.8
47.4
80.3
10,361
704
1,251
7,467
495
1 028
4,880
947
1,545
210
157
5
236
151
168
6.96
6.81
6.63
6.82
7.51
5,988
65
699
2,872
1,314
298
270
471
481
139
21 31 to 365 days . .
22
Minimal risk . .
23 Low risk
24
Moderate risk .
25
Other
7.18
6.46
6.24
6.92
8.30
8,956
508
1,454
3,350
2,764
26 More than 365 days . . .
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
7.79
7.57
7.81
7.72
8.06
4,084
84
551
1,928
938
Days
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
Weightedaverage risk
9.5
7.1
6.2
Weightedaverage
maturity/
repricing
interval2
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1,000-9,999 .. .
10,000 or more .
8.74
8.22
7.55
6.44
3,120
10,716
14,952
20,792
3.4
3.3
3.1
2.9
178
157
163
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
8.40
6.61
3.3
3.0
105
143
67.8
33.6
7.2
15.4
175
649
60
Federal Reserve Bulletin Statistical Supplement • November 2006
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
Survey of Loans Made, August 7-11, 2006—Continued
C. Commercial and industrial loans made by large domestic banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
7.14
6.08
6.50
6.86
44,040
1,657
4,841
22,391
8,673
494
1.484
864
786
287
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
7.81
6.77
7.11
7.64
8.61
17,475
469
1,244
8,013
3,724
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
6.12
5.51
6.12
6.04
8.29
16 2 to 30 days
17
Minimal risk
18 Low risk
19
Moderate risk
20
Other
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
35.6
16.3
20.4
29.1
48.5
77.8
56.4
79.8
70.8
94.6
12.9
16.8
16.2
13.4
12.8
9.0
29.2
3.3
4.7
3.0
69.3
42.1
51.3
62.6
81.6
92.6
94.4
91.2
93.7
92.8
9.5
9.6
13.0
9.5
9.4
9.9
.3
7.9
6.7
73.8
13.0
.0
30.9
12.2
3.7
9.2
.9
14.3
7.0
27.1
31.6
1.1
47.7
28.3
94.4
30.6
44.1
39.9
31.3
18.6
658
797
504
829
475
45.5
75.3
30.7
33.5
73.5
15.7
1.0
21.7
8.7
19.6
15.4
15.7
10.3
10.4
17.8
90.8
96.4
84.3
91.4
98.7
10.1
9.6
10.0
10.4
11.9
1.982
3.206
3.562
2.209
1.599
571
414
359
871
335
47.1
54.2
63.6
28.6
63.4
15.6
61.7
8.6
18.3
9.5
9.0
8.4
3.1
2.7
19.8
90.3
99.8
94.6
90.6
94.9
15.1
26.6
13.3
14.2
16.2
1,042
570
1,402
1,458
1,148
39
49
48
36
37
48.5
45.3
47.7
36.3
72.2
27.1
9.3
16.0
27.8
9.4
36.1
48.3
28.1
41.6
45.0
87.6
99.5
84.7
82.0
95.9
11.0
10.4
7.9
10.6
16.3
Weightedaverage risk
rating3
Weightedaverage
maturity/
repricing
interval2
85.5
71.2
52.6
20.8
11.7
11.5
15.8
12.4
72.3
72.0
44.9
12.4
89.7
93.3
91.5
61.8
7.5
10.6
14.1
13.6
92.3
69.8
11.5
13.8
Secured by
collateral
Subject to
prepayment
penalty
537
282
469
518
579
42.3
28.5
38.6
27.7
73.5
15.8
10.9
7.8
285
636
377
400
203
602
494
658
520
737
56.9
42.5
47.2
43.0
80.8
9,987
701
1,233
7,341
355
1.751
10.700
1.204
2.741
310
149
3
233
145
106
6.82
6.61
6.44
6.62
7.42
5,342
54
620
2,569
1,211
359
567
951
794
145
21 31 to 365 days
22
Minimal risk
23 Low risk
24
Moderate risk
25
Other
7.05
6.01
6.23
6.64
8.29
8,077
382
1,378
2,928
2,625
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
7.56
7.51
7.14
7.52
8.02
2,976
51
231
1,508
744
Days
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
Days
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1.000-9.999
10,000 or more
8.46
8.11
7.48
6.44
1,747
7,971
13,577
20,744
3.4
3.3
3.2
2.9
46
85
144
81
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
8.28
6.52
15,666
28,374
3.3
3.0
83
109
65.2
29.7
8.4
15.9
245
1,122
Financial Markets
4.23
TERMS OF LENDING AT COMMERCIAL BANKS
61
Survey of Loans Made, August 7-11, 2006—Continued
D. Commercial and industrial loans made by small domestic banks'
Weightedaverage
maturity5
Percent of amount of loans (percent)
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
8.58
8.10
8.10
8.71
8.89
5,541
225
793
2,375
1,424
82
101
150
84
70
874
432
1,106
945
653
83.2
93.5
85.2
79.7
80.3
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
8.83
9.23
8.23
8.80
9.11
2,525
43
300
1,105
847
75
145
124
79
61
422
223
455
373
400
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
8.64
8.79
9.69
9.05
9.09
374
4
18
126
140
86
45
60
58
115
16 2 to 30 days
17
Minimal risk
18 Low risk
19
Moderate risk
20
Other
8.12
7.81
8.16
8.50
8.59
647
11
79
303
103
21 31 to 365 days
22
Minimal risk
23 Low risk
24
Moderate risk
25
Other
8.39
7.80
6.29
8.82
8.55
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
8.41
7.68
8.30
8.43
8.21
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
1.1
5.2
6.0
64.7
49.4
68.8
65.5
77.3
75.7
68.3
58.8
87.7
80.8
5.1
4.1
5.5
4.8
6.1
78.7
91.6
65.5
79.1
77.7
2.2
.7
.7
2.4
3.1
84.8
85.4
69.3
88.7
96.2
91.4
42.3
89.2
94.4
91.7
6.8
6.8
5.5
6.7
8.2
405
391
420
471
314
81.5
82.3
94.7
72.1
76.8
.9
.0
82.4
91.7
95.3
97.8
93.9
75.5
96.8
96.3
86.5
85.6
1.9
4.8
1.6
1.3
1.6
125
75
95
454
548
305
581
279
72.2
55.1
94.9
60.9
62.4
1.6
.0
1.4
2.1
3.1
56.4
39.7
55.8
69.0
80.2
73.7
78.1
91.3
93.3
81.9
3.1
8.0
8.1
2.0
2.4
879
127
76
422
139
67
104
90
82
66
428
261
375
319
761
88.6
96.0
90.3
84.7
91.5
7.6
.0
2.3
13.1
5.5
36.2
46.6
26.5
28.4
32.6
75.8
78.8
46.6
87.2
78.4
4.7
4.2
9.8
5.9
1.8
1,108
33
320
420
194
86
363
102
100
78
43
95.9
99.0
99.4
92.1
95.8
8.3
18.2
1.1
8.6
23.6
80.0
29.8
13.3
42.0
72.3
23.0
67.0
31.0
67.4
67.1
59.4
76.8
81.3
66.2
6.2
5.4
2.9
83.3
61.8
5.4
4.2
Secured by
collateral
Days
Subject to
prepayment
penalty
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
Weightedaverage risk
rating3
101
64
Weightedaverage
maturity/
repricing
interval2
Days
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1.000-9.999
10,000 or more
9.09
8.52
8.25
1,373
2,745
1,375
3.2
3.1
2.8
346
365
346
82.6
81.9
85.7
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
8.93
7.93
3,585
1,956
3.2
2.9
201
629
79.1
90.6
2.2
7.6
78
91
62
4.23
Federal Reserve Bulletin Statistical Supplement • November 2006
TERMS OF LENDING AT COMMERCIAL BANKS
Survey of Loans Made, August 7-11, 2006—Continued
E. Commercial and industrial loans made by U.S. branches and agencies of foreign banks'
Weightedaverage
maturity5
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
6.58
5.59
6.17
6.97
6.87
26,146
3,154
4,907
8,913
4,786
6.239
15.948
6.136
5.871
4.608
554
85
184
843
370
9.12
6.39
7.29
9.85
9.18
2,104
258
172
1,402
248
2.150
2.730
1,803
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
6.04
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Percent of amount of loans (percent)
Secured by
collateral
Days
Commitment status
Percent made
under
commitment
Average
months since
loan terms
4.3
.6
1.0
3.5
8.0
85.1
99.5
87.4
87.0
81.3
1.5
4.9
5.9
24.7
5.0
21.4
16.4
96.1
100.0
100.0
100.0
100.0
100.0
17.4
3.9
85.3
2.8
98.6
62.8
49.0
91.1
70.4
72.7
4.1
7.3
51.1
72.4
79.7
57.1
46.0
80.4
94.4
74.5
88.8
79.6
5.6
1.9
1.9
7.0
3.1
Subject to
prepayment
penalty
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
14.8
7.4
3.1
14.5
33.0
708
2,329
1,154
31.9
70.3
70.6
10.5
88.3
10,619
12.833
161
13.3
5.84
5.92
6.34
2,778
2,495
2,100
17.002
7.254
18.013
7
89
113
.0
16 2 to 30 days
17
Minimal risk
18 Low risk
19
Moderate risk
20
Other
6.30
5.74
6.69
5.88
6.96
6,723
309
1,462
2,328
1,327
5.425
8.300
5.884
5.275
4.644
389
439
374
241
205
12.0
21 31 to 365 days
22
Minimal risk
23 Low risk
24
Moderate risk
25
Other
6.84
5.84
6.01
7.39
6.79
6,505
104
483
2,686
964
5.978
3.012
2.717
6.807
3.466
919
592
409
14.4
11.3
1,291
876
4.366
230
784
617
15.6
47.0
2.6
1.2
14.4
11.6
48.3
85.8
87.8
39.6
40.2
5.5
7.3
4.8
15.5
22.2
21.8
56.7
81.9
23.5
29.2
4.7
.2
.0
84.4
100.0
100.0
93.9
95.0
5.2
1.0
6.7
4.7
4.7
56.4
37.6
20.5
12.3
26.3
40.0
41.6
50.6
68.4
32.9
7.5
2.4
98.4
93.6
86.6
84.4
10.5
11.4
7.0
3.2
100.0
84.4
11.0
4.0
2.3
Months
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
Weightedaverage risk
rating3
Weightedaverage
maturity/
repricing
interval2
Days
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1.000-9.999
10,000 or more
8.14
7.45
6.50
6.57
17
705
5,607
19,818
3.2
3.0
3.0
2.7
43
25
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
9.45
6.45
1,131
25,015
3.4
2.7
104
17
36.7
13.8
5.0
50.3
1,086
7,943
Financial Markets
4.23
63
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, August 7-11, 2006—Continued
F. Commercial and industrial loans by date pricing terms were set and commitment status
Weighted-
Date pricing terms were set
and commitment status
Weightedaverage
loan rate4
(percent)
Amount of
loans
(millions
of dollars)
Average loan
size
(thousands of
dollars)
Weighted-
Percent of amount of loans
maturity
repricing
interval2
risk rating3
Days
Secured by
collateral
Subject to
prepayment
penalty
Prime
based
All commercial banks
1 During survey week
2
Not under commitment
3
Informal commitment
4
Formal commitment
6.63
6.34
6.23
8.06
30,000
15,025
9,304
5,671
607
604
648
554
2.7
2.9
2.1
3.2
100
116
29
176
21.8
20.7
11.5
41.9
36.6
17.3
85.1
8.3
16.7
12.1
9.3
41.2
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
7.53
7.11
7.41
14,007
17,555
14,135
386
352
570
3.2
3.2
3.1
91
73
91
33.7
48.3
51.9
14.6
15.9
20.2
29.7
33.5
37.5
Domestic banks
8 During survey week
9
Not under commitment
10
Informal commitment
11
Formal commitment
6.90
6.39
8.44
7.92
15,937
11,132
1,461
3,344
331
455
107
333
2.9
2.8
3.1
3.3
172
150
156
252
35.2
23.1
67.2
61.6
7.8
6.7
9.2
11.2
28.6
16.3
58.6
56.5
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
7.60
7.50
7.42
8,921
12,483
12,209
250
256
514
3.2
3.2
3.1
131
95
101
46.3
54.2
55.0
13.8
8.8
45.8
45.8
39.8
Large domestic banks
15 During survey week
16
Not under commitment
17
Informal commitment
18 Formal commitment
6.47
6.14
7.48
7.61
12,616
9,787
445
2,384
921
1,063
189
1,115
2.9
2.8
2.7
3.4
90
65
177
180
22.4
13.2
55.8
53.9
8.8
6.7
28.2
13.5
21.0
12.4
41.5
52.6
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
7.48
7.42
7.36
8,021
11,667
11,736
329
335
722
3.2
3.2
3.1
113
97
104
41.9
52.1
54.3
14.8
9.1
21.0
42.2
43.9
38.4
Small domestic banks
22 During survey week
23
Not under commitment
24
Informal commitment
25 Formal commitment
8.54
8.18
8.86
8.71
3,321
1,344
1,016
960
96
88
90
122
3.0
2.8
3.1
3.1
482
778
147
426
83.8
94.8
72.2
80.8
4.3
6.1
.9
5.4
57.4
44.5
66.1
66.2
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
8.61
8.64
8.66
900
817
473
80
59
63
3.2
3.1
3.3
295
62
44
85.6
84.7
70.2
4.9
3.5
2.4
77.8
72.9
75.2
Foreign banks
29 During survey week
30
Not under commitment
31
Informal commitment
32
Formal commitment
6.33
6.22
5.81
8.26
14,063
3,894
7,843
2,327
10,911
9,589
11,306
12,299
2.4
3.3
2.0
3.0
19
17
6
69
6.7
14.0
1.1
13.5
69.3
47.9
99.2
4.1
3.3
.0
.2
19.1
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
7.40
6.15
7.36
5,086
5,071
1,926
7,352
4,243
1,898
3.1
21
20
28
11.6
33.7
32.3
16.0
33.6
19.5
1.6
3.1
22.8
5
6
7
12
13
14
19
20
21
26
27
28
33
34
35
NOTE. The Survey of Terms of Business Lending collects data on gross loan extensions
made during the first full business week in the mid-month of each quarter. The authorized
panel size for the survey is 348 domestically chartered commercial banks and 50 U.S.
branches and agencies of foreign banks. The sample data are used to estimate the terms of
loans extended during that week at all domestic commercial banks and all U.S. branches and
agencies of foreign banks. Note that the terms on loans extended during the survey week may
differ from those extended during other weeks of the quarter. The estimates reported here are
not intended to measure the average terms on all business loans in bank portfolios. The data in
this table also appear in the Board's E.2 statistical release, available on the Board's website
at: www.federalreserve.gov/releases.
1. As of March 31, 2003, assets of the large banks were at least $3.7 billion. Median total
assets for all insured banks were roughly $93 million. Assets at all U.S. branches and agencies
averaged $3.3 billion.
2. The "maturity/repricing" interval measures the period from the date the loan is made
until it first may be repriced or matures. For floating-rate loans that are subject to repricing at
any time—such as many prime-based loans—the maturity/repricing interval is zero. For
floating-rate loans that have a scheduled repricing interval, the maturity/repricing interval
measures the number of days between the date the loan is made and the date on which it is
next scheduled to reprice. For loans having rates that remain fixed until the loan matures
(fixed-rate loans), the "maturity/repricing" interval measures the number of days between the
date the loan is made and the date on which it matures. Loans that reprice daily mature or
reprice on the business day after they are made. Owing to weekends and holidays, such loans
may have "maturity/repricing" intervals in excess of one day; such loans are not included in
the 2- to 30-day category.
3. A complete description of these risk categories is available on the Board's website at
"http://www.federalreserve.gov/boarddocs/reportforms/ReportDetail.cfm?WhichFormId=
3.1
FR_2028a/s." The category "Moderate risk" includes the average loan, under average
economic conditions, at the typical lender. The "Other" category includes loans rated
"Acceptable" as well as special mention or classified loans. The weighted-average risk rating
published for loans in rows 31 -36 are calculated by assigning a value of " 1" to minimal risk
loans; " 2 " to low risk loans; " 3 " to moderate risk loans, "4" to acceptable risk loans; and
" 5 " to special mention and classified loans. These values are weighted by loan amount and
exclude loans with no risk rating. Some of the loans in table rows 1, 6, 11, 16, 21, 26, and
31-36 are not rated for risk.
4. Effective (compounded) annual interest rates are calculated from the stated rate and
other terms of the loans and weighted by loan amount. The standard error of the loan rate for
all commercial and industrial loans in the current survey (line 1, column 1) is 0.18 percentage
point. The chances are about two out of three that the average rate shown would differ by less
than this amount from the average rate that would be found by a complete survey of the
universe of all banks.
5. Average maturities are weighted by loan amount and exclude loans with no stated
maturities.
6. For loans made under formal commitments, the average time interval between the date
on which the loan pricing was set and the date on which the loan was made, weighted by the
loan amount. For loans under informal commitment, the time interval is zero.
7. Prime-based loans are based on the lending bank's own prime rate, any other lender's
prime rate, a combination of prime rates, or a publicly reported prime rate. Loans with
"other" base rates include loan rates expressed in terms of any other base rate (e.g., the
federal funds rate or LIBOR) and loans for which no base rate is used to determine the loan
rate.
8. For loans made under formal commitments.
* The number of loans was insufficient to provide a meaningful value.
64
Federal Reserve Bulletin Statistical Supplement • November 2006
4.30
ASSETS AND LIABILITIES
of U.S. Branches and Agencies of Foreign Banks, June 30, 20061
Millions of dollars except as noted
Total
including
IBFs3
Total assets4 .
2 Claims on nonrelated parties
3 Cash and balances due from depository institutions
4
Cash items in process of collection and unposted debits
5
Currency and coin (U.S. and foreign)
6
Balances with depository institutions in United States
7
U.S. branches and agencies of other foreign banks
(including their IBFs)
8
Other depository institutions in United States (including their
IBFs)
9
Balances with banks in foreign countries and with foreign central
banks
10
Foreign branches of U.S. banks
11
Banks in home country and home-country central banks
12
All other banks in foreign countries and foreign central banks .
13
Balances with Federal Reserve Banks
14 Total securities and loans . . .
15 Total securities, book value
16
U.S. Treasury
17
Obligations of U.S. government agencies and corporations
18
Other bonds, notes, debentures, and corporate stock (including state
and local securities)
Securities of foreign governmental units
Mortgage-backed securities
Issued or guaranteed by U.S. government agencies
Other
Other asset-backed securities
All other
25 Federal funds sold
26
With depository institutions in the U.S. .
27
With others
45,819
42,909
5,413
36,818
34,624
5,223
8,285
9,000
14,658
520
2,541
11,598
805
556,876
165,183
5,669
18,275
141,239
8 298
37,952
26,529
11,423
50 Lease financing receivables (net of unearned income)
51
U.S. addressees (domicile)
52
Non-U.S. addressees (domicile)
191
27,350
18,713
8,637
22,152
111,035
3,781
2,653
1,128
Total
including
IBFs
IBFs
only
62,924
15,483
956
1
120
588
0
l.a.
345
56,363
116
7
0
64
243
35
5
203
19
0
4
15
26
20
19
0
191
8,266
467
1,479
6,319
n.a.
245
36
5
205
18
24,780
14,092
484
2,531
11,077
674
490,823
24,000
14,153
4,024
n.a.
n.a.
161,699
4,967
17,762
3,625
n.a.
n.a.
1,524
27
149
395
n.a.
n.a.
1,108
595
229
4,024
2,436
0
0
138,971
8,226
37,686
26,263
11,423
36,770
56,289
3,625
2,396
1,348
49
264
264
0
0
1,035
395
40
0
0
0
0
354
284
23
0
261
0
0
0
0
0
0
0
23,724
15,333
8,391
4,611
2,069
2,542
57
57
11
11
0
211
210
1
1
0
1
0
0
0
3,482
857
2,625
0
0
0
0
0
0
8,511
502
1,484
6,524
37 215
57,774
392,251
559
391,692
44 Commercial and industrial loans
45
U.S. addressees (domicile)
46
Non-U.S. addressees (domicile)
47 Loans to foreign governments and official institutions (including
foreign central banks)
48 Loans for purchasing or carrying securities (secured and unsecured)
49 All other loans
45,628
14,289
0
IBFs
only
16,407
44,110
13,679
0
n.a.
31 Total loans, gross
32
LESS: Unearned income on loans .
Total loans, gross, by category
34 Real estate loans
35 Loans to depository institutions and acceptances of other banks
36
Commercial banks in United States (including their IBFs)
37
U.S. branches and agencies of other foreign banks
38
Other commercial banks in United States
39
Other depository institutions in United States (including their IBFs) .
40
Banks in foreign countries
41
Foreign branches of U.S. banks
42
Other banks in foreign countries
43 Loans to other financial institutions
Total
including
IBFs
IBFs
only
941,725
60,925
3,245
5
1,063,261
64,567
3,275
10
165,155
27,264
137,892
EQUALS: Loans, net
Total
including
IBFs
1,325,097
1,498,985
28 Securities purchased under agreements to resell
29
With depository institutions in the U.S
30
With others
33
IBFs
only3
4,699
2,080
2,619
159,838
26,407
133,431
20,781
25
20,756
329,614
489
329,124
18,232
92,422
3,364
2,314
1,050
34,502
20,400
25
20,376
12,655
26
12,629
118
1
117
33,400
6
33,394
3,293
2,190
55
55
0
0
187
0
187
1,947
0
15
5
5
0
0
10
0
10
0
86
13,609
134
127
7
0
1,300
0
1,300
12,174
13,637
226
13,412
93,615
6,998
1,169
1,169
0
0
5,425
4
5,421
404
11,733
226
11,508
77,323
6,855
1,099
1,099
0
0
5,352
4
5,348
404
203,826
156,805
47,021
12,955
199
12,756
166,592
127,110
39,482
12,718
198
12,520
6,849
6,483
366
103
0
103
19,026
14,939
4,088
2,549
21,375
30,936
535
255
39
2,355
20,518
29,118
534
255
39
5
318
0
0
0
125
441
377
377
0
0
0
0
0
0
379
379
n.a.
n.a.
53 Trading assets
54
U.S. Treasury and agency securities
55
Other trading assets
208,411
26,300
182,111
1,171
0
1,171
168,934
26,277
142,657
1,171
0
1,171
0
0
0
16,842
0
16,842
56 All other assets
57
Customers' liabilities on acceptances outstanding
58
U.S. addressees (domicile)
59
Non-U.S. addressees (domicile)
60
Other assets including other claims on nonrelated parties
61 Net due from related depository institutions5
62
Net due from head office and other related depository institutions5
63
Net due from establishing entity, head office, and other related
depository institutions5
40,902
701
478
223
40,202
435,725
689
n.a.
n.a.
n.a.
689
91,480
n.a.
37,481
601
411
190
36,880
383,372
383,372
647
n.a.
n.a.
n.a.
647
62,763
n.a.
291
924
924
9
n.a.
n.a.
n.a.
9
3,653
n.a.
1,211
58
44
14
1,152
6,561
6,561
3,653
n.a.
3,308
137,108
1,325,097
106,872
16,407
4,773
62,924
3,328
127,317
1,210,254
97,273
10,444
4,680
59,125
3,328
64 Total liabilities4
65 Liabilities to nonrelated parties
Footnotes appear at end of table.
435,725
n.a.
1,498,985
1,362,761
62,763
91,480
n.a.
n.a.
n.a.
U.S. Branches and Agencies
4.30
ASSETS AND LIABILITIES
of U.S. Branches and Agencies of Foreign Banks, June 30, 2006'—Continued
Millions of dollars except as noted
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
87,105
589,205
63,819
3,992
3,674
12,433
2,342
9,496
994
8,503
6,967
5,645
1,322
36,066
730
35,335
484,233
471,809
12,424
78,005
15,387
62,618
8,792
2,243
6,549
5,968
793
5,176
5,915
5,093
822
22,800
555
22,245
3,230
1,747
1,483
95
24
71
7
0
7
48
0
48
439
408
31
2,226
176
2,051
11,617
11,474
143
773
250
523
44
0
44
204
200
4
129
129
0
762
0
762
34,140
437
3,443
14,731
28,699
437
10
648
962
0
0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
7,932
6,258
1,673
92
4
89
485
0
485
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
114
69
45
0
0
0
7
0
7
n.a.
n.a.
420
163
n.a.
n.a.
532,858
516,031
16,827
79,148
15,775
63,373
8,402
2,244
6,159
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
476,301
465,551
10,750
77,912
15,383
62,529
8,307
2,243
6,064
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
3,116
1,678
1,438
95
24
71
0
0
0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
11,351
11,242
109
773
250
523
44
0
44
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
3,059
15,331
n.a.
n.a.
3,023
14,569
n.a.
n.a.
7
646
n.a.
n.a.
0
n.a.
n.a.
Total
excluding
IBFs3
IBFs
only3
66 Total deposits and credit balances
67
Individuals, partnerships, and corporations (including certified
and official checks)
68
U.S. addressees (domicile)
69
Non-U.S. addressees (domicile)
70
Commercial banks in United States (including their IBFs) . . .
71
U.S. branches and agencies of other foreign banks
72
Other commercial banks in United States
73
Banks in foreign countries
74
Foreign branches of U.S. banks
75
Other banks in foreign countries
76
Foreign governments and official institutions
(including foreign central banks)
77
All other deposits and credit balances
649,797
542,588
522,730
19,858
79,240
15,778
63,462
8 940
2,244
6,696
3,532
15,497
78 Transaction accounts and credit balances (excluding IBFs)
79
Individuals, partnerships, and corporations (including certified
and official checks)
80
U.S. addressees (domicile)
81
Non-U.S. addressees (domicile)
82
Commercial banks in United States (including their IBFs) . . .
83
U.S. branches and agencies of other foreign banks
84
Other commercial banks in United States
85
Banks in foreign countries
86
Foreign branches of U.S. banks
87
Other banks in foreign countries
88 Foreign governments and official institutions
(including foreign central banks)
89 All other deposits and credit balances
10,999
9,092
9,730
6,700
3,030
93
4
89
537
0
537
473
166
90 Nontransaction accounts (including MMDAs, excluding IBFs) . .
91
Individuals, partnerships, and corporations (including certified
and official checks)
92
U.S. addressees (domicile)
93
Non-U.S. addressees (domicile)
94
Commercial banks in United States (including their IBFs) . . .
95
U.S. branches and agencies of other foreign banks
96
Other commercial banks in United States
97
Banks in foreign countries
98
Foreign branches of U.S. banks
99
Other banks in foreign countries
100
Foreign governments and official institutions
(including foreign central banks)
101
All other deposits and credit balances
638,798
102 IBF deposit liabilities
103
Individuals, partnerships, and corporations (including certified
and official checks)
104
U.S. addressees (domicile)
105
Non-U.S. addressees (domicile)
106
Commercial banks in United States (including their IBFs) . . .
107
U.S. branches and agencies of other foreign banks
108
Other commercial banks in United States
109
Banks in foreign countries
110
Foreign branches of U.S. banks
111
Other banks in foreign countries
112 Foreign governments and official institutions
(including foreign central banks)
113 All other deposits and credit balances
Footnotes appear at end of table.
580,113
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
265
231
34
0
0
0
0
0
0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
0
0
n.a.
n.a.
12,168
3,864
87,105
63,819
9,496
994
8,503
6,967
5,645
1,322
36,066
730
35,335
5,968
793
5,176
5,915
5,093
822
22,800
555
22,245
48
0
48
439
408
31
2,226
176
2,051
204
200
4
129
129
0
762
0
762
34,140
437
28,699
437
962
0
1,247
0
65
66
Federal Reserve Bulletin Statistical Supplement • November 2006
4.30
ASSETS AND LIABILITIES
of U.S. Branches and Agencies of Foreign Banks, June 30, 2006'—Continued
Millions of dollars except as noted
Total
including
IBFs3
IBFs
only3
Total
including
IBFs
IBFs
only
78,155
25,620
52,534
16,085
1,166
14,918
61,124
20,452
40,673
11,096
1,010
10,086
859
799
60
131
131
0
6,425
2,517
3,908
674
10
664
117 Securities sold under agreements to repurchase
118 With depository institutions in the U.S
119 With others
120 Other borrowed money
121 Owed to nonrelated commercial banks in United States (including
their IBFs)
122
Owed to U.S. offices of nonrelated U.S. banks
123
Owed to U.S. branches and agencies of nonrelated
foreign banks
124 Owed to nonrelated banks in foreign countries
125
Owed to foreign branches of nonrelated U.S. banks
126
Owed to foreign offices of nonrelated foreign banks
127 Owed to others
170,274
11,553
158,721
218,329
1,746
557
1,189
21,422
166,192
11,553
154,639
191,856
1,746
557
1,189
19,728
326
0
326
1,306
0
0
0
849
0
1,898
20,518
0
0
0
305
18,407
13,743
2,042
290
18,032
13,640
1,899
285
141
63
63
5
109
5
50
0
4,664
20,603
335
20,268
179,319
1,752
16,491
93
16,398
2,889
4,391
19,215
217
18,998
154,609
1,615
15,273
41
15,232
2,556
78
646
92
554
520
58
574
52
522
213
105
155
0
155
20,254
50
135
0
135
120
128 All other liabilities
129
Branch or agency liability on acceptances executed and
outstanding
130
Trading liabilities
131
Other liabilities to nonrelated parties
159,101
959
138,058
884
288
717
125,827
32,557
n.a.
39
920
618
108,511
28,928
n.a.
39
844
22
132 Net due to related depository institutions5
133
Net due to head office and other related depository institutions5
134
Net due to establishing entity, head office, and other related
depository institutions5
136,224
136,224
9,790
n.a.
114,843
114,843
9,599
n.a.
114 Federal funds purchased
115 With depository institutions in the U.S.
116
With others
Total
including
IBFs
IBFs
only
Total
including
IBFs
IBFs
only
15,509
264
n.a.
0
25
56
14,548
905
n.a.
0
7
5,963
5,963
93
n.a.
3,799
3,799
n.a.
0
MEMO
135 Holdings of own acceptances included in commercial and
industrial loans
136 Commercial and industrial loans with remaining maturity of one y
or less (excluding those in nonaccrual status)
137
Predetermined interest rates
138 Floating interest rates
139 Commercial and industrial loans with remaining maturity of more
than one year (excluding those in nonaccrual status)
140
Predetermined interest rates
141
Floating interest rates
Footnotes appear at end of table.
77,799
19,189
58,611
n.a.
n.a.
n.a.
56,186
11,726
44,460
n.a.
n.a.
n.a.
2,635
783
1,852
n.a.
n.a.
n.a.
14,097
4,742
9,355
n.a.
n.a.
n.a.
124,675
12,250
112,425
n.a.
n.a.
n.a.
109,227
10,370
98,857
n.a.
n.a.
n.a.
4,141
252
3,889
n.a.
n.a.
n.a.
4,846
401
4,445
n.a.
n.a.
n.a.
U.S. Branches and Agencies
4.30
ASSETS AND LIABILITIES
67
of U.S. Branches and Agencies of Foreign Banks, June 30, 20061—Continued
Millions of dollars except as noted
All states2
Item
142 Components of total n on transaction accounts,
included in total deposits and credit balances
143 Time deposits of $100,000 or more
144 Time CDs in denominations of $100,000 or more
with remaining maturity of more than 12 months
Total
excluding
IBFs3
IBFs
only3
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
706,868
629,850
n.a.
n.a.
647,234
573,254
n.a.
n.a.
3,805
3,774
n.a.
n.a.
11,689
11,687
n.a.
n.a.
77,018
n.a.
73,980
n.a.
31
n.a.
2
n.a.
All states2
145 Immediately available funds with a maturity greater than one day
included in other borrowed money
146 Number of reports filed6
Illinois
California
New York
Total
including
IBFs3
IBFs
only3
Total
including
IBFs
IBFs
only
80,068
247
n.a.
133
78,135
48
n.a.
1. Data are aggregates of categories reported on the quarterly form FFIEC 002, "Report of
Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks." The form was first
used for reporting data as of June 30, 1980, and was revised as of December 31, 1985. From
November 1972 through May 1980, U.S. branches and agencies of foreign banks had filed a
monthly FR 886a report. Aggregate data from that report were available through the Federal
Reserve monthly statistical release G.I 1, last issued on July 10,1980. Data in this table and in
the G.I 1 tables are not strictly comparable because of differences in reporting panels and in
definitions of balance sheet items.
2. Includes the District of Columbia.
3. Effective December 1981, the Federal Reserve Board amended Regulations D and Q to
permit banking offices located in the United States to operate international banking facilities
(IBFs). Since December 31, 1985, data for IBFs have been reported in a separate column.
These data are either included in or excluded from the total columns as indicated in the
headings. The notation "n.a." indicates that no IBF data have been reported for that item,
Illinois
California
New York
Total
including
IBFs
IBFs
only
1,054
n.a.
n.a.
n.a.
Total
including
IBFs
351
n.a.
IBFs
only
n.a.
n.a.
either because the item is not an eligible IBF asset or liability or because that level of detail is
not reported for IBFs. From December 1981 through September 1985, IBF data were
included in all applicable items reported.
4. Total assets and total liabilities include net balances, if any, due from or owed to related
banking institutions in the United States and in foreign countries (see note 5). On the former
monthly branch and agency report, available through the G.ll monthly statistical release,
gross balances were included in total assets and total liabilities. Therefore, total asset and total
liability figures in this table are not comparable to those in the G.I 1 tables.
5. Related depository institutions includes the foreign head office and other U.S. and
foreign branches and agencies of a bank, a bank's parent holding company, and majorityowned banking subsidiaries of the bank and of its parent holding company (including
subsidiaries owned both directly and indirectly).
6. In some cases, two or more offices of a foreign bank within the same metropolitan area
file a consolidated report.
68
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign banks, U.S. branches and agencies, 64—67
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21, 64—67 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21, 64-67
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21
Commercial and industrial loans, 15-21, 58-63
Consumer loans held, by type and terms, 34, 58-63
Real estate mortgages held, by holder and property, 33
Terms of lending, 58-63
Time and savings deposits, 4
Commercial paper, 22, 23, 30
Condition statements (See Assets and liabilities)
Consumer credit, 34
Corporations
Security issues, 29, 55
Credit unions, 34
Currency in circulation, 5, 13
Customer credit, stock market, 24
DEBT (See specific types of debt or securities)
Demand deposits, 15-21
Depository institutions
Reserve requirements, 8
Reserves and related items, 4—6, 12
Deposits (See also specific types)
Commercial banks, 4, 15-21
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
EURO, 56
FARM mortgage loans, 33
Federal agency obligations, 5, 9-11, 26, 27
Federal credit agencies, 28
Federal finance
Debt subject to statutory limitation, and types and ownership of
gross debt, 25
Federal Financing Bank, 28
Federal funds, 23
Federal Home Loan Banks, 28
Federal Home Loan Mortgage Corporation, 28, 32, 33
Federal Housing Administration, 28, 32, 33
Federal Land Banks, 33
Federal National Mortgage Association, 28, 32, 33
Federal Reserve Banks
Condition statement, 10
Discount rates (See Interest rates)
U.S. government securities held, 5, 10, 11, 25
Federal Reserve credit, 5, 6, 10, 12
Federal Reserve notes, 10
Federally sponsored credit agencies, 28
Finance companies
Assets and liabilities, 30
Business credit, 31
Loans, 34
Paper, 22, 23
Float, 5
Flow of funds, 35-39
Foreign banks, U.S. branches and agencies, 64—67
Foreign currency operations, 10
Foreign deposits in U.S. banks, 5
Foreign exchange rates, 56
Foreign-related institutions, 20
Foreigners
Claims on, 45, 48^19, 52-53
Liabilities to, 45^17, 50-51, 54, 55
GOLD
Certificate account, 10
Stock, 5, 45
Government National Mortgage Association, 28, 32, 33
INDUSTRIAL production, 42, 43
Insurance companies, 25, 33
Interest rates
Bonds, 23
Commercial banks, 58-63
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22, 58-63
International capital transactions of United States, 44—55
International organizations, 45, 46^17, 48, 50-55
Investment companies, issues and assets, 30
Investments (See also specific types)
Commercial banks, 4, 15-21, 58-63
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Commercial banks, 15-21, 58-63
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Foreign banks, U.S. branches and agencies, 64-67
Insured or guaranteed by United States, 32, 33
MANUFACTURING
Capacity utilization, 40, 41
Production, 42, 43
Margin requirements, 24
Member banks, reserve requirements, 8
Mining production, 43
Monetary and credit aggregates, 4, 12
Money and capital market rates, 23
Money stock measures and components, 4, 13
Mortgages (See Real estate loans)
Mutual funds, 13, 30
Mutual savings banks (See Thrift institutions)
OPEN market transactions, 9
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22, 58-63
Production, 42, 43
REAL estate loans
Banks, 15-21, 33
Terms, yields, and activity, 32
Type and holder and property mortgaged, 33
Reserve requirements, 8
Reserves
Commercial banks, 15-21
Depository institutions, 4—6
Federal Reserve Banks, 10
U.S. reserve assets, 45
Residential mortgage loans, 32, 33
Retail credit, 34
SAVING
Flow of funds, 33, 34, 35-39
Saving 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
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44-55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting banks, 17, 18
YIELDS (See Interest rates)
69
@FedFRASER