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Volume 2 • Number 9 • September 2005
Statistical Supplement
to the Federal Reserve
BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Lynn S. Fox, Chair • Scott G. Alvarez • Sandra Braunstein • Marianne M. Emerson
• Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus • Vincent R. Reinhart
• Louise L. Roseman • Richard Spillenkothen • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin. Starting with
the winter 2004 issue, the Bulletin is now published
on a quarterly basis.
Published monthly, the new Statistical Supplement
is designed as a compact source of economic and
financial data. The tables that appeared in the Federal
Reserve Bulletin, including the annual and quarterly
special tables, now appear in the Statistical Supplement. All statistical series are published with the
same frequency that they had in the Bulletin, and the
numbering system for the tables remains the same.
Separate subscriptions for the quarterly Federal
Reserve Bulletin and the monthly Statistical Supplement are available. Subscription information for
the Statistical Supplement is on the inside front cover.
For subscription information about the Bulletin, contact Publications Fulfillment at (202) 452-3245, or
send an e-mail to publications-bog@frb.gov.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of September 2005.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Reserves of depository institutions and Reserve Bank
credit
6 Reserves and borrowings—Depository
institutions
Policy
Instruments
7 Federal Reserve Bank interest rates
8 Reserve requirements of depository institutions
9 Federal Reserve open market transactions
Federal 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 • September 2005
INTERNATIONAL STATISTICS
Summary Statistics
44 U.S. international transactions
44 U.S. reserve assets
45 Foreign official assets held at Federal Reserve
Banks
45 Selected U.S. liabilities to foreign official
institutions
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 unaffiliated foreigners
52 Claims on unaffiliated foreigners
Securities Holdings and Transactions
54 Foreign transactions in securities
55 Marketable U.S. Treasury bonds and
notes—Foreign transactions
Interest and Exchange Rates
56 Foreign exchange rates
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Terms of lending at commercial banks,
June 30, 2005
60 Small loans to businesses and farms, 2004
63 Community development lending reported under the
Community Reinvestment Act, 2004
64 INDEX TO STATISTICAL TABLES
66 FEDERAL RESERVE BOARD PUBLICATIONS
68 ANTICIPATED SCHEDULE OF RELEASE DATES FOR
PERIODIC STATISTICAL RELEASES
Symbols and Abbreviations
c
e
n.a.
n.e.c.
p
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
Corrected
Estimated
Not available
Not elsewhere classified
Preliminary
Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
Calculated to be zero
Cell not applicable
Asset-backed security
Automatic transfer service
Bank insurance fund
Certificate of deposit
Collateralized mortgage obligation
Community Reinvestment Act of 1977
Federal Agricultural Mortgage Corporation
Federal Financing Bank
Federal Financial Institutions Examination Council
Federal Housing Administration
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Farmers Home Administration
Federal National Mortgage Association
Farm Service Agency
Federal Savings and Loan Insurance Corporation
Group of Seven
Group of Ten
GDP
GNMA
GSE
HUD
IMF
IOs
IPCs
IRA
MMDA
MSA
NAICS
NOW
OCDs
OPEC
OTS
PMI
POs
REIT
REMICs
RHS
RP
RTC
SCO
SDR
SIC
STRIPS
TIIS
TIPS
VA
Gross domestic product
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International Monetary Fund
Interest-only, stripped, mortgage-backed securities
Individuals, partnerships, and corporations
Individual retirement account
Money market deposit account
Metropolitan statistical area
North American Industry Classification System
Negotiable order of withdrawal
Other checkable deposits
Organization of Petroleum Exporting Countries
Office of Thrift Supervision
Private mortgage insurance
Principal-only, stripped, mortgage-backed securities
Real estate investment trust
Real estate mortgage investment conduits
Rural Housing Service
Repurchase agreement
Resolution Trust Corporation
Securitized credit obligation
Special drawing right
Standard Industrial Classification
Separate trading of registered interest and principal
of securities
See TIPS
Treasury inflation-protected securities (formerly
TIIS, or Treasury inflation-indexed securities)
Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
4
Federal Reserve Bulletin Statistical Supplement • September 2005
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q3
1
2
3
4
Reserves of depository institutions2
Total
Required
Nonborrowed
Monetary base3
Q4
Q1
Q2
Apr.
1.9
3.4
.6
7.3
3.3
1.9
4.5
4.7
2.1
3.5
2.9
3.7
-3.1
-3.1
-4.2
2.7
-37.8
5.0
22.2
15.2
22.0
3.5
-7.9
1.4
Concepts of money*
5 Ml
6 M2
7 M3
3.4
4.2
5.7
5.8
4.0
.5
4.0
5.5
-.5
1.7
5.9
6.4
2.8
4.6
6.1
3.7
3.8
-15.3
-.6
6.5'
Nontransaction components
8 In M2S
9 In M3 only1"
3.4
5.9
5.8
.4
4.9
8.8
2.3
14.7
3.1
3.7P
3.4
21.4'
7.1
2.5
15.6
11.6
7.2
6.3
6.7
14.5
32.2
.7
21.5
21.1
16.5
16.6
4.1
23.2
6.1
19.0
43.4
-11.2
24.3
.7
8.9
21.9
27.8
1.6
3.7
35.1
-1.2
15.0
45.4
-8.7
22.4
44.9
-8.7
20.4
47.5
-8.5
13.3
40.1
-15.7
26.6
62.9
-2.6
25.2
17.2
-1.0
20.7
40.8
-11.7
-6.3
-9.5
-11.9
-5.0
-10.0
-1.3
4.0
-8.8
-19.4
-5.9
-4.3
7.2
17.2
-3.6
-3.2
-5.1
19.2
-1.7
23.2
-15.9
34.8
-16.9
25.7P
9.3
20.7
48.4
-2.1
-12.3
23.4P
-24.3
15.2'
74.8
30.8'
-12.1
30.9
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
Money market mutual funds
16 Retail10
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
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.
-18.0
-14.7
-18.2
1.5
20.8
14.7
18.0
5.1
11.0
5.2'
.8
6.1
10.6
-2.6
15.6'
7.5
19.8
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 INSTITUTIONS1
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
May 18
May 25
June]
June 8
June 15
June 22
June 29
789,186
725,669
725,669
265,015
438,635
19,307
2,713
0
24,275
178
14
0
164
-481
39,545
11,041
2,200
36,580
787,558
721,611
721,611
264,284
435,683
19,108
2,535
0
26,571
142
792,474
724,565
724,565
264,765
438,078
19,108
2,614
0
29,714
156
11
0
145
-1,004
39,042
11,042
2,200
36,545
789,990
725,448
725,448
265,015
438,678
19,108
2,646
0
25,500
152
0
150
-304
39,194
11,042
2,200
36,559
787,947
725,482
725,482
265,015
438,678
19,108
2,680
0
23,714
162
14
0
148
-734
39,323
11,041
2,200
36,573
787,854
725,909
725,909
265,015
438,678
19,473
2,743
0
22,286
180
0
139
-1,260
40,493
11,041
2,200
36,545
786,595
722,188
722,188
264,353
436,154
19,108
2,573
0
26,357
150
8
0
142
-786
38,685
11,041
2,200
36,545
0
158
-230
39,710
11,041
2,200
36,587
788,542
726,009
726,009
265,015
438,678
19,533
2,782
0
23,107
215
19
0
196
-814
40,025
11,041
2,200
36,601
755,448
26,096
26,096
0
260
760,119
24,042
24,042
0
269
754,287
28,054
28,054
0
255
754,266
25,780
25,780
0
262
760,446
25,125
25,125
0
277
761,106
24,343
24,343
0
287
759,558
23,691
23,691
0
280
758,984
23,417
23,417
0
268
759,885
24,311
24,311
0
244
14,175
5,087
94
8,682
8,682
0
313
28,986
11,752
13,936
4,951
99
8,584
8,584
0
302
29,428
11,212
13,960
5,209
84
8,340
8,340
0
327
28,820
11,968
13,644
4,936
82
8,340
8,340
0
286
28,978
13,453
14,145
4,927
84
8,851
8,851
0
284
29,297
12,970
14,052
4,778
104
8,850
8,850
0
321
29,248
10,754
14,605
5,534
93
8,607
8,607
0
372
29,399
10,227
13,941
4,982
96
8,605
8,605
0
258
29,504
11,568
13,373
4,726
103
8,279
8,279
0
265
29,713
10,859
Apr.
May
784,486
717,702
717,702
263,005
433,195
19,108
2,393
0
25,783
134
56
0
79
-348
41,215
11,041
2,200
36,545
786,931
721,766
721,766
264,173
435,944
19,108
2,541
0
25,565
141
7
0
135
-905
40,364
11,041
2,200
36,545
753,570
24,201
24,201
0
270
14,576
5,212
97
8,957
8,957
0
310
28,481
13,174
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
Wednesday figures
End-of-month figures
May 18
June 8
June 15
797,035
725,426
725,426
265,015
438,678
19,108
2,625
0
31,500
144
0
0
143
1,107
38,858
11,042
2,200
36,545
795,591
725,460
725,460
265,015
438,678
19,108
2,659
0
30,500
149
0
0
149
25
39,456
11,042
2,200
36,559
792,999
725,495
725,495
265,015
438,678
19,108
2,693
0
29,000
151
0
0
151
-975
39,329
11,041
2,200
36,573
791,909
725,987
725,987
265,015
438,678
19,533
2,760
0
26,250
197
176
-362
39,838
11,041
2,200
36,587
792,082
726,022
726,022
265,015
438,678
19,533
2,795
0
26,000
247
29
0
218
-296
40,110
11,041
2,200
36,601
757,385
25,186
25,186
0
275
762,124
24,732
24,732
0
761,370
23,956
23,956
0
282
760,256
23,147
23,147
0
271
760,033
23,362
23,362
0
245
763,380
24,237
24,237
0
237
14,215
5,518
79
8,340
8,340
0
278
29,039
15,579
13,284
4,039
80
8,851
8,851
0
314
28,703
17,691
14,088
4,626
112
8,850
8,850
0
501
29,393
16,302
18,801
9,849
91
8,607
8,607
0
255
28,972
11,365
14,055
5,099
84
8,605
8,605
0
267
29,427
14,616
12,787
4,173
83
8,279
8,279
0
252
29,390
11,893
Apr.
May
787,835
719,350
719,350
263,005
434,785
19,108
2,451
0
27,500
105
6
0
98
-1,184
42,065
11,041
2,200
36,545
797,168
724,471
724,471
264,765
437,978
19,108
2,620
0
34,750
160
13
0
148
-955
38,741
11,042
2,200
36,545
798,203
724,722
724,722
265,015
437,374
19,533
2,800
0
34,500
235
17
0
219
-977
39,723
11,041
2,200
36,615
783,233
721,629
721,629
264,288
435,683
19,108
2,549
0
23,750
141
4
0
138
-844
38,557
11,041
2,200
36,545
791,893
722,992
722,992
264,515
436,781
19,108
2,587
0
31,000
149
3
0
146
-1,123
38,876
11,041
2,200
36,545
752,786
26,544
26,544
0
258
761,384
25,386
25,386
0
275
764,713
26,183
26,183
0
237
754,908
26,179
26,179
13,054
3,585
126
9,025
9,025
0
318
28,846
16,134
14,768
5,538
105
8,851
8,851
0
274
29,255
15,886
13,004
4,373
103
8,278
8,278
0
250
29,095
14,827
13,806
5,080
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.
8,340
8,340
0
273
28,781
9,086
5. Cash value of agreements, which are fully collateralized by U.S. Treasury and federal
agency securities.
6. Cash value of agreements, which are fully collateralized by U.S. Treasury securities.
7. Excludes required clearing balances and adjustments to compensate for float.
6
Federal Reserve Bulletin Statistical Supplement • September 2005
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
12
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
Adjustment
2005
2002
2003
2004
2004
Dec.
Dec.
Dec.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
9.926
43,362
30,347
13,016
40,272
38,263
2,009
10.861
44,063
32,086
11,976
42,947
41,906
1,040
12.047
47,261
34,803
12,458
46,850
44,940
1,909
12.047
47,261
34,803
12,458
46,850
44,940
1,909
14.075
47,677
36,365
11,311
50,440
48,699
1,741
12.272
47,657
34,445
13,213
46,716
45,221
1,495
12.060
46,740
33,973
12,767
46,033
44,251
1,782
12.965
45,330
33,710
11,620
46,675
45,006
1,669
12,046
45,590
34,431
11,159
46,477
44,955
1,522
11,249
46,238
34,850
11,387
46,100
44,325
1,774
80
46
17
0
29
63
11
0
52
63
11
0
52
62
39
0
23
42
26
0
16
49
13
0
37
132
52
0
80
139
6
0
133
249
85
0
164
45
35
B
weekly av erages of daily igures for two- A-eek periods ending on dates indie ited
2005
1
2
3
4
5
6
7
8
u
10
12
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
Secondary
Mar. 2
Mar. 16
Mar. 30
Apr. 13
Apr. 27
May 11
May 25
June 8
June 22
July 6
13.919
46,796
35,145
11,651
49,064
47,496
1,568
11.077
45,881
32,136
13,745
43,213
41,412
1,801
12.850
47,688
35,774
11,914
48,623
46,830
1,793
11.072
45,391
32,135
13,257
43,207
41,416
1,791
15.087
45,242
35,170
10,073
50,257
48,638
1,618
11,267
45,472
33,725
11,748
44,992
43,619
1,372
12,730
45,882
35,156
10,727
47,886
46,375
1,511
11,879
45,124
34,036
11,089
45,914
44,093
1,821
10,901
45,810
34,539
11,272
45,440
43,809
1,630
11,230
48,100
36,211
11,889
47,441
45,461
1,979
51
35
0
17
39
7
0
32
51
9
0
42
175
112
0
63
94
6
0
88
123
7
0
117
146
5
0
141
154
7
0
148
171
18
0
153
480
279
0
201
Adjustment
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
9/16/05
Effective date
Previous rate
On
9/16/05
Effective date
Previous rate
On
9/16/05
Effective date
Previous rate
4.50
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
4.25
5.00
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
8/9/05
4.75
3.65
8/18/05
3.45
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
i
8/9/05
8/10/05
8/9/05
8/9/05
8/9/05
8/9/05
i
4.50
'
4.25
5.00
1
8/9/05
8/10/05
8/9/05
8/9/05
8/9/05
8/9/05
i
1
1
4.75
3.65
8/18/05
3.45
Range of rates for primary credit
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2.25
2.25
2003—June 25
26
2.00-2.25
2.00
2.00
2.00
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
Effective date
2005—Feb. 3
Mar. 22
24
May 3
4
June 30
July 1
Aug. 9
10
In effect September 16, 2005 . .
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
3.50
3.50-3.75
3.75
3.75^.00
4.00
4.00^.25
4.25
4.25^.50
4.50
3.50
3.75
3.75
4.00
4.00
4.25
4.25
4.50
4.50
4.50
4.50
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
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
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
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 • September 2005
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Net transaction accounts^
1 $0 million-$7.0 million2
2 More than $7.0 million-$47.6 million3
3 More than $47.6 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
12/23/04
12/23/04
12/23/04
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
U.S. TREASURY SECURITIES2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Outright transactions
Treasury bills
Gross purchases
Gross sales
Exchanges
For new bills
Redemptions
Others within one year
Gross purchases
Gross sales
Maturity shifts
Exchanges
Redemptions
One to five years
Gross purchases
Gross sales
Maturity shifts
Exchanges
Five to ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
More than ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
All maturities
Gross purchases
Gross sales
Redemptions
26 Net change in U.S. Treasury securities . . .
21,421
0
657.931
657,931
0
738,886
738,886
18,138
0
821,685
821,685
0
60,682
60,682
512
0
73,029
73,029
0
62,448
62,448
35
0
66,741
66,741
0
0
0
78,822
78,822
0
0
0
63,637
63,637
0
1,760
0
70,894
70,894
0
12,720
0
89,108
-92,075
0
6,565
0
96,433
-103,153
7,994
0
103,380
-118,373
0
0
19,781
-23,125
1,499
0
7,987
-7,948
0
0
6,928
-8,000
0
0
2,989
-12,710
333
0
0
8,334
-8,000
211
0
0
0
0
0
0
0
23,149
-26,036
0
12,748
0
-73,093
88,276
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
2,284
0
-16,031
20,655
2,404
0
-7,987
7,948
0
-6,928
5,000
0
0
3,180
11,498
0
0
-8,334
8,000
1,200
0
0
0
2,295
0
-19,402
23,565
5,074
0
-11,588
3,800
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
453
0
-84
2,471
340
0
0
0
0
0
-3,112
1,212
0
0
0
0
470
0
0
0
0
-1,277
2,471
2,280
0
-4,427
0
220
0
-8,938
1,364
0
-10,524
0
0
0
-3,058
0
0
0
0
230
0
0
0
0
0
-2,471
0
54,242
0
0
36,856
0
50,507
0
0
35
0
0
0
211
1,900
0
0
4,953
0
0
54,242
36,856
1,153,876
1,518,638
1,887,650
166,750
158,250
155,250
156,000
148,500
152,750
125,250
120,250
201,500
204,250
163,500
167,000
186,250
179,000
4,942,131
4,946,691
5,621,153
5,626,285
547,160
548,325
655,872
658,454
563,559
559,501
490,482
488,781
581,322
580,402
505,211
507,649
547,538
546,380
85
0
0
0
5,977
0
0
3,000
4,840
0
0
5,977
FEDERAL AGENCY OBLIGATIONS
Outright transactions
Gross purchases
Gross sales
Redemptions
Net change in federal agency obligations . . .
TEMPORARY TRANSACTIONS
Repurchase agreements3
Gross purchases
Gross sales
Matched sale-purchase agreements
33 Gross purchases
34 Gross sales
Reverse repurchase agreements*
35 Gross purchases
36 Gross sales
4,981,624
4,958,437
231,272
252,363
37 Net change in temporary transactions
-8,653
-310
-15,882
7,335
-3,332
-193
6,700
-1,831
-5,938
8,408
38 Total net change in System Open Market Account
45,589
36,536
34,626
13,312
1,508
-193
6,402
-2,041
-4,038
13,361
1. Sales, redemptions, and negative figures reduce holdings of the System Open Market
Account; all other figures increase such holdings.
2. Transactions exclude changes in compensation for the effects of inflation on the
principal of inflation-indexed securities. Transactions include the rollover of inflation compensation into new securities.
3. Cash value of agreements, which are collateralized by U.S. government and federal
agency obligations.
4. Cash value of agreements, which are collateralized by U.S. Treasury securities.
10
1.18
Federal Reserve Bulletin Statistical Supplement • September 2005
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
June 15
June 22
June 29
Apr.
May
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
602
757,070
725,426
725,426
265,015
438,678
19,108
2,625
0
31,500
144
9,515
1,817
37,026
19,822
17,204
11,037
2,200
612
756,110
725,460
725,460
265,015
438,678
19,108
2,659
0
30,500
149
6,737
1,821
37,600
20,032
17,569
11,037
2,200
629
754,645
725,495
725,495
265,015
438,678
19,108
2,693
0
29,000
151
5,333
1,823
37,492
19,644
17,847
11,037
2,200
642
752,434
725,987
725,987
265,015
438,678
19,533
2,760
0
26,250
197
5,819
1,829
38,443
19,707
18,736
11,037
2,200
627
752,268
726,022
726,022
265,015
438,678
19,533
2 795
0
26,000
247
5,859
1,831
38,241
19,577
18,663
11,037
2,200
722
746,955
719,350
719,350
263,005
434,785
19,108
2,451
0
27,500
105
4,235
1,813
40,068
20,735
19,333
11,037
2,200
608
759,382
724,471
724,471
264,765
437,978
19,108
2,620
0
34,750
160
2,074
1,820
36,884
19,964
16,920
11,037
2,200
630
759,457
724,722
724,722
265,015
437,374
19,533
2,800
0
34,500
235
4,437
1,830
37,855
19,526
18,329
819,268
816,117
813,159
812,402
812,064
807,030
814,005
817,447
726,465
24,732
30,965
26,531
4,039
80
314
8,404
3,408
725,701
23,956
30,360
25,122
4,626
112
501
6,706
3,501
724,579
23,147
30,165
19,971
9,849
91
255
6,295
3,502
724,328
23,362
29,112
23,662
5,099
84
267
6,174
3,553
727,640
24,237
24,635
20,127
4,173
83
252
6,162
3,619
717,216
26,544
29,029
25,000
3,585
126
318
5,396
3,353
725,719
25,386
30,622
24,705
5,538
105
274
3,024
3,452
728,961
26,183
27,834
23,108
4,373
103
250
5,374
3,306
793,973
790,225
787,689
786,528
786,292
781,538
788,202
791,658
12,894
11,364
1,037
12,904
11,440
1,548
12,921
11,396
1,152
12,935
11,451
1,488
12,936
11,456
1,379
12,751
11,353
1,388
12,864
11,392
1,546
12,937
11,450
1,402
25,470
25,874
1,436,087
1,092,127
343,960
5,614
1,441,034
1,091,557
349,478
3,830
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
25,295
25,803
33 Total capital
MEMO
34 Marketable securities held in custody for foreign offic
and international accounts3'10
35
U.S. Treasuiy
36
Federal agency
37 Securities lent to dealers
1,426,812
1,084,093
342,720
4,016
1,435,046
1,090,777
344,269
2,388
1,439,204
1,084,876
354,329
3,701
1,400,765
1,078,361
322,405
3,990
1,426,560
1,085,090
341,470
4,380
1,437,623
1,082,990
354,633
9,479
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
861,544
862,938
864,838
866,720
867,892
855,526
861,383
867,612
135,079
726,465
726,465
11,037
2,200
713,228
0
137,237
725,701
725,701
11,037
2,200
712,463
0
140,258
724,579
724,579
11,037
2,200
711,343
0
142,392
724,328
724,328
11,037
2,200
711,091
0
140,253
727,640
727,640
11,037
2,200
714,403
0
138,310
717,216
717,216
11,037
2,200
703,979
0
135,664
725,719
725,719
11,037
2,200
712,481
0
138,650
728,961
728,961
11,037
2,200
715,724
0
756,926
755,960
754,495
752,237
752,022
746,850
759,221
759,222
24,750
23,974
23,164
23,379
24,256
26,573
25,407
26,203
732,176
731,986
731,330
728,858
727,766
720,277
733,815
733,019
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
May
Apr.
160
1 Total loans
29
122
183
14
221
26
0
84
20
138
196
40
0
725,460
725,495
725,987
726,022
719,350
724,471
724,722
54,615
162,630
159,891
216,538
53,764
78,023
61,853
155,574
159,709
216,552
53,769
78,038
61,540
156,020
159,576
216,566
54,145
78,140
60,564
157,412
159,160
216,580
54,151
78,155
43,156
175,874
158,592
214,135
50,362
77,232
37,526
171,789
167,571
216,523
53,757
77,306
34,652
161,963
180,546
215,251
54,152
78,158
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
31,500
30,500
29,000
26,250
26,000
27,500
34,750
34,500
20 Within 15 days
31,500
0
30,500
0
29,000
0
26,250
0
26,000
0
27,500
0
34,750
0
34,500
0
23,147
23,362
23,147
0
23,362
0
24,237
0
26,544
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"
11
133
0
127
0
725,426
55,701
153.864
167,571
216,525
53,758
78,008
24,732
24,732
23,956
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.
25,386
25,386
0
26,183
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • September 2005
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2001
Dec.
2002
Dec.
2003
Dec.
2004
Dec.
Apr.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
41.50
41.43
39.85
635.41
40.44
40.36
38.43
681.30
42.77
42.72
41.73
719.85
46.80
46.74
44.89
758.60
46.37
46.19
44.59
758.45
46.80
46.74
44.89
758.60
47.48
47.42
45.74
761.16
45.96
45.92
44.47
764.31
46.81
46.76
45.03
766.51
46.59
46.45
44.92
767.42
45.89
45.75
44.36
768.40
46.68
46.43
44.91
771.68
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
41.18
41.11
39.53
639.91
40.13
40.05
38.12
686.23
42.45
42.41
41.41
725.20
46.52
46.46
44.61
764.66
45.23
45.05
43.45
758.34
46.52
46.46
44.61
764.66
50.37
50.31
48.63
763.78
46.69
46.65
45.20
763.23
45.99
45.95
44.21
764.70
46.61
46.47
44.94
766.32
46.38
46.24
44.86
766.94
45.99
45.74
44.22
770.91
41.06
40.99
39.41
648.74
1.65
.07
40.27
40.19
38.26
697.15
2.01
.08
42.95
42.90
41.91
737.62
1.04
.05
46.85
46.79
44.94
774.77
1.91
.06
45.63
45.45
43.85
768.77
1.78
.18
46.85
46.79
44.94
774.77
1.91
.06
50.44
50.38
48.70
773.25
1.74
.06
46.72
46.68
45.22
772.48
1.50
.04
46.03
45.98
44.25
773.85
1.78
.05
46.68
46.54
45.01
775.32
1.67
.13
46.48
46.34
44.96
775.69
1.52
.14
46.10
45.85
44.33
779.56
1.77
.25
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
2001
Dec.
2002
Dec.
2003
Dec.
2004
Dec.
Apr.
May
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,182.0
5.451.1
8,037.2
1,219.2
5,802.9
8,575.6
1,305.1
6,085.2
8,885.3
1,373.5
6,430.7
9,450.5
1,378.5'
6,484.5
9,568.9'
1,361.0
6,481.5
9,620.6'
1,373.5
6,482.8
9,662.7'
1,374.4
6,515.5
9,748.0
581.1
8.0
335.3
257.6
626.1
7.8
305.8
279.4
662.1
7.7
324.8
310.4
696.9
7.6
340.7
328.3
703.8
7.5
344.7
322.5
704.3
7.5
325.8
323.4
706.0
7.5
334.7
325.3
708.9
7.3
339.2
318.9
4.269.1
2,586.1
4.583.7
2,772.7
4.780.1
2,800.1
5.057.2
3,019.8
5.106.0
3,084.3'
5.120.5
3,139.2'
5.109.3
3,179.9'
5.141.2
3,232.5
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
1,740.0
634.4
686.8
2,062.0
589.7
697.0
2,340.5
536.0
761.9
2,638.4
544.1
907.1
2,668.8
569.8
976.8
2,675.4
578.8
1,012.1
2,650.5
590.5
1,012.7
2,670.1
601.3
1,036.2
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
573.6
338.8
114.3
718.5
302.1
117.0
832.6
273.1
120.0
890.9
271.2
160.0
880.8
283.7
179.3
869.3
290.0
188.7
867.4
296.1
191.4
866.7
301.2
197.9
982.4
1.197.4
911.4
1.250.5
798.0
1.120.7
712.6
1.072.7
702.8
1.040.3
707.0
1.055.2
704.9
1.052.4
701.9
1.069.2
375.8
211.8
476.8
231.5
500.6
297.0
497.3
382.6
484.6
403.4'
474.8
408.5'
504.4
419.0'
499.3
429.8
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
1.208.3
5,485.1
8,104.9
1.245.2
5,832.2
8,634.5
1.332.2
6,112.0
8,929.7
1,401.4
6,454.5
9.481.5
1.382.4
6,479.6
9,588.5'
1.371.9
6,526.8
9,669.5'
1.369.1
6,471.9
9,674.3'
1,377.7
6,522.7
9.764.2
585.2
7.9
354.2
261.0
630.3
7.7
323.5
283.8
666.7
7.6
342.8
315.0
702.4
7.5
358.8
332.7
702.7
7.4
345.4
326.8
704.0
7.4
328.8
331.7
705.3
7.4
331.5
324.8
708.5
7.4
340.0
321.8
Nontransaction components
27 In M27
28 In M3 onlys
4.276.8
2,619.8
4.587.0
2,802.3
4,779.8
2,817.7
5.053.1
3,027.0
5.097.2
3,108.9'
5.155.0
3,142.6'
5.102.9
3,202.4'
5.145.0
3,241.5
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
1,742.5
635.2
690.1
2,061.0
590.4
699.0
2,337.3
536.5
762.7
2,632.8
544.6
907.1
2,656.0
570.5
972.7
2,698.6
579.3
1.014.5
2,650.8
590.2
1.029.0
2.677.8
600.4
1.046.9
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
574.4
339.2
114.8
718.2
302.4
117.3
831.5
273.3
120.1
889.0
271.5
160.0
876.6
284.1
178.5
876.9
290.2
189.1
867.5
296.0
194.5
869.2
300.7
200.0
985.5
1,228.1
915.1
1,280.8
801.2
1,143.8
715.2
1,089.9
710.1
1,052.1
710.0
1,046.4
698.4
1,038.8
696.9
1,059.0
376.5
210.3
476.4
228.8
498.2
292.8
493.1
377.0
492.4
413.2'
473.6
419.0'
511.7
428.3'
512.9
422.7
23
24
25
26
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Money market mutual funds
35 Retail12
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appear on following page.
14
Federal Reserve Bulletin Statistical Supplement • September 2005
NOTES TO TABLE 1.21
1. Latest monthly and weekly figures are available from the Board's H.6 (508) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 are available from the Money and Reserves Projections Section, Division of Monetary
Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of 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
Aug.
2005
2005
2004
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
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
6,630.3'
1,914.0
1,181.9'
732.1'
4,716.3'
903.2'
2,438.6'
358.1
2,080.5'
691.3
232.0
451.2'
369.5
323.8
630.1'
6,999.1
2,038.7
1,219.4
819.3
4,960.4
956.3
2,597.7
408.2
2,189.5
700.7
221.4
484.3
293.7
334.5
666.5
7,085.6
2,057.9
1,220.2
837.7
5,027.7
964.4
2,651.3
416.1
2,235.3
708.7
228.4
474.9
276.4
350.5
687.6
7,108.3
2,043.8
1,195.3
848.5
5,064.5
977.0
2,677.7
420.2
2,257.5
711.4
223.9
474.5
287.3
332.8
680.3
7,157.6
2,070.4
1,201.8
868.6
5,087.2
988.3
2,683.2
423.6
2,259.6
704.6
236.1
475.1
285.5
340.2
678.7
7,206.6
2,053.4
1,174.5
878.9
5,153.2
993.4
2,722.5
427.0
2,295.5
707.3
246.4
483.6
264.6
344.1
695.9
7,258.5
2,060.5
1,178.2
882.3
5,198.0
1,007.0
2,768.9
431.9
2,337.0
710.8
229.8
481.4
255.9
328.0
683.3
7,334.7
2,065.5
1,175.1
890.4
5,269.2
1,016.4
2,802.5
434.2
2,368.2
717.3
242.0
491.0
269.9
323.0
690.3
7,314.3
2,051.9
1,170.1
881.8
5,262.4
1,010.7
2,802.1
433.6
2,368.5
716.3
241.5
491.8
252.8
326.1
696.0
7,315.3
2,059.5
1,178.7
880.8
5,255.7
1,018.1
2,798.0
434.6
2,363.5
717.2
235.7
486.7
259.1
311.0
688.4
7,344.7
2,065.8
1,179.4
886.4
5,278.9
1,020.4
2,800.8
434.4
2,366.4
720.0
242.1
495.6
290.3
329.4
689.5
7,376.0
2,086.3
1,171.6
914.7
5,289.7
1,018.1
2,812.2
434.7
2 377.6
716.9
253.5
489.0
279.0
320.7
690.3
7,882.3'
8,224.9
8,331.8
8,340.4
8,393.6
8,442.7
8,457.0
8,549.1
8,520.4
8,504.9
8,585.1
8,597.5
5,180.2
670.1
4,510.1
1,158.0
3,352.1
1,580.8
445.5
1,135.3
38.1'
486.4
5,388.3
676.8
4,711.5
1,223.7
3,487.8
1,592.3
376.3
1,216.0
63.3
481.9
5,449.8
704.3
4,745.5
1,246.7
3,498.9
1,621.4
363.8
1,257.6
72.3
493.5
5,497.6
674.4
4,823.3
1,292.9
3,530.4
1,609.7
373.5
1,236.2
41.6
511.2
5,509.2
678.4
4,830.8
1,296.8
3,534.1
1,623.0
361.5
1,261.5
68.6
493.3
5,547.9
696.3
4,851.6
1,316.5
3,535.1
1,620.6
360.2
1,260.5
53.5
498.2
5,566.9
663.4
4,903.5
1,313.1
3,590.4
1,610.7
336.3
1,274.4
102.3
489.6
5,634.2
683.7
4,950.6
1,357.6
3,592.9
1,659.2
339.2
1,320.0
70.8
486.7
5,599.3
643.0
4,956.3
1,337.8
3,618.5
1,650.7
327.5
1,323.2
96.5
482.3
5,634.2
680.9
4,953.3
1,357.9
3,595.4
1,642.3
333.9
1,308.4
49.2
483.5
5,669.3
749.9
4,919.3
1,375.0
3,544.3
1,685.8
344.5
1,341.4
58.1
471.9
5,651.2
688.4
4,962.7
1,371.9
3,590.9
1,667.2
348.4
1,318.8
58.9
509.4
7,285.5'
7,525.8
7,637.0
7,660.1
7,694.1
7,720.3
7,769.5
7,850.9
7,828.8
7,809.2
7,885.1
7,886.7
596.8'
699.1
694.8
680.3
699.5
722.4
687.5
698.2
691.5
695.7
700.0
710.8
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
46 Total assets7
47
48
49
50
51
52
53
54
55
56
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
57 Total liabilities
58 Residual (assets less liabilities)5
Footnotes appear on p. 21.
6,616.0'
1,911.7
1,177.8'
733.9'
4,704.2'
898.5'
2,440.3'
359.3
2,081.0'
688.0
296.1
391.9
224.6
452.8'
369.4
314.3
631.9'
6,984.5
2,035.3
1,214.7
820.7
4,949.1
956.0
2,592.4
408.4
2,184.0
705.8
305.5
400.3
219.4
475.5
288.7
331.6
661.6
7,051.7
2,048.6
1,215.6
833.0
5,003.1
967.5
2,635.9
413.0
2,222.9
702.2
302.7
399.5
227.4
470.2
279.9
337.3
682.8
7,087.7
2,039.8
1,198.5
841.3
5,047.9
981.8
2,665.5
418.8
2,246.7
702.9
304.3
398.5
225.4
472.3
295.6
328.2
678.6
7,149.2
2,073.8
1,210.1
863.8
5,075.4
992.6
2,682.9
424.5
2,258.4
698.7
302.4
396.3
228.1
473.1
286.0
334.9
678.4
7,200.7
2,055.1
1,178.3
876.8
5,145.6
996.1
2,716.5
428.4
2,288.1
700.1
305.7
394.4
246.5
486.4
265.3
335.6
692.0
7,239.4
2,054.5
1,176.8
877.7
5,184.9
1,005.6
2,763.7
432.7
2,331.0
703.3
307.3
396.0
226.9
485.4
252.9
322.5
684.4
7,320.6
2,063.9
1,171.3
892.6
5,256.7
1,011.0
2,804.4
435.7
2,368.7
713.9
307.7
406.2
234.6
492.8
269.5
313.4
692.4
7,298.9
2,050.5
1,167.6
883.0
5,248.3
1,005.8
2,803.8
434.6
2,369.2
709.1
305.6
403.6
237.7
491.9
252.1
305.7
700.3
7,302.9
2,055.4
1,171.7
883.6
5,247.5
1,013.7
2,800.7
436.2
2,364.5
713.7
308.2
405.5
229.5
489.9
264.9
305.1
693.2
7,318.0
2,062.0
1,174.5
887.5
5,256.1
1,012.7
2,801.7
435.7
2,366.0
718.8
309.7
409.1
229.2
493.7
281.2
306.6
684.7
7,370.7
2,087.8
1,168.2
919.6
5,282.9
1,012.2
2,816.7
436.6
2,380.1
716.8
308.0
408.8
243.8
493.4
279.6
327.3
692.5
7,860.1'
8,197.2
8,283.1
8,322.0
8,380.2
8,425.1
8,430.7
8,527.0
8,488.1
8,497.3
8,521.7
8,601.4
5,158.6
651.5
4,507.1
1,150.4
3,356.7
1,577.1
448.0
1,129.1
38.2'
486.2
5,390.9
668.6
4,722.3
1,234.3
3,488.0
1,590.4
373.8
1,216.6
68.2
488.3
5,443.1
694.9
4,748.2
1,250.0
3,498.3
1,609.3
365.0
1,244.3
65.5
485.1
5,516.9
681.0
4,835.8
1,299.5
3,536.4
1,616.3
378.0
1,238.3
24.8
489.8
5,500.5
668.7
4,831.7
1,306.5
3,525.2
1,641.3
362.1
1,279.2
64.2
488.7
5,549.1
688.9
4,860.2
1,324.2
3,536.0
1,632.3
359.6
1,272.7
48.9
493.7
5,550.8
660.9
4,889.9
1,309.7
3,580.2
1,612.2
336.1
1,276.0
93.5
480.3
5,611.8
665.0
4,946.8
1,348.9
3,597.9
1,653.6
340.7
1,312.9
70.7
486.6
5,583.2
616.5
4,966.7
1,330.4
3,636.3
1,641.0
328.7
1,312.2
90.9
476.8
5,623.1
668.5
4,954.6
1,347.5
3,607.1
1,639.6
336.4
1,303.1
47.0
481.1
5,601.3
706.9
4,894.4
1,366.4
3,528.1
1,676.1
345.2
1,330.9
63.2
476.6
5,644.6
686.7
4,957.9
1,361.2
3,596.7
1,664.5
349.9
1,314.6
64.3
515.2
7,260.2'
7,537.7
7,603.0
7,647.7
7,694.6
7,724.1
7,736.9
7,822.6
7,791.8
7,790.7
7,817.2
7,888.6
600.0'
659.5
680.1
674.3
685.5
701.1
693.8
704.4
696.3
706.6
704.5
712.8
16
Federal Reserve Bulletin Statistical Supplement • September 2005
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
Aug.'
2005
2005
2004
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
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
5.989.0
1,653.0
1,089.5
563.5
4.336.0
768.1
2.421.5
358.1
2.063.4
691.3
92.1
363.0
329.1
261.0
593.2
6.301.6
1,723.1
1,122.4
600.7
4.578.5
810.7
2.578.8
408.2
2.170.6
700.7
107.8
380.5
252.0
270.4
635.3
6.380.8
1,740.8
1,125.4
615.4
4.640.0
819.2
2.632.4
416.1
2.216.3
708.7
107.9
371.7
233.4
285.4
654.4
6.403.7
1,733.7
1,109.2
624.5
4.670.0
826.3
2.658.5
420.2
2.238.3
711.4
104.9
368.9
242.3
268.7
646.1
6.435.4
1,756.0
1,113.6
642.4
4.679.4
833.3
2.664.9
423.6
2.241.4
704.6
106.6
369.9
237.5
276.0
643.1
6.475.7
1,734.2
1,085.8
648.4
4.741.5
838.9
2.704.3
427.0
2.277.3
707.3
113.4
377.7
215.5
279.7
658.2
6.515.3
1,733.7
1,090.7
643.0
4.781.6
845.3
2.752.4
431.9
2.320.5
710.8
103.0
370.1
205.4
262.2
645.9
6.565.4
1,730.0
1,088.1
641.9
4.835.4
850.4
2.786.1
434.2
2.351.8
717.3
102.8
378.8
221.7
256.3
652.7
6.558.5
1,719.3
1,084.0
635.3
4.839.3
846.1
2,785.5
433.6
2.351.9
716.3
111.7
379.8
206.2
259.8
655.4
6.554.5
1,729.3
1,092.0
637.3
4.825.1
852.0
2.781.5
434.6
2.346.9
717.2
100.1
374.4
211.9
244.8
651.5
6.571.8
1,730.7
1,092.2
638.5
4.841.0
853.4
2.784.5
434.4
2.350.1
720.0
99.8
383.4
240.6
263.1
654.0
6.580.9
1,739.9
1,083.2
656.7
4.841.1
851.0
2.796.3
434.7
2.361.7
716.9
100.2
376.7
234.0
254.0
654.2
7,101.2
7,390.8
7,486.0
7,492.9
7,524.1
7,561.0
7,560.5
7,627.6
7,611.5
7,594.3
7,660.9
7,655.0
4,635.3
658.9
3.976.4
640.7
3,335.8
1,259.8
402.4
857.4
215.1
400.0
4.834.9
663.6
4.171.3
707.4
3.463.9
1,229.6
332.1
897.5
249.0
385.9
4.888.8
689.8
4.199.0
720.6
3,478.4
1,253.9
320.0
933.9
253.6
402.0
4.908.7
660.0
4.248.6
735.9
3.512.8
1,249.0
329.2
919.8
244.8
417.9
4.921.8
664.2
4.257.6
742.9
3.514.7
1,256.4
321.6
934.8
261.2
400.3
4.946.1
682.2
4.263.9
747.5
3.516.4
1,262.2
315.4
946.8
236.9
400.4
4.984.8
648.9
4.335.8
763.1
3.572.7
1,246.3
295.2
951.0
249.4
395.6
5.005.1
668.5
4.336.6
765.0
3.571.6
1,273.5
293.4
980.1
263.3
391.5
4.992.2
627.6
4.364.6
765.4
3.599.2
1,272.8
286.4
986.4
269.9
384.9
5.004.6
665.7
4.338.8
765.2
3.573.6
1,249.0
284.5
964.5
257.7
389.1
5.027.0
734.9
4.292.1
767.3
3.524.8
1,307.1
299.4
1,007.8
257.8
378.4
4.998.9
673.1
4.325.8
761.8
3.564.0
1,275.0
302.6
972.4
264.7
413.2
6,510.3
6,699.4
6,798.3
6,820.3
6,839.8
6,845.6
6,876.0
6,933.4
6,919.8
6,900.5
6,970.3
6,951.8
591.0
691.4
687.7
672.6
684.4
715.4
684.6
694.2
691.7
693.8
690.6
703.2
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)5
Footnotes appear on p. 21.
5,983.3
1,650.7
1.085.4
565.4
4,332.6
764.8
2.423.2
359.3
2.063.9
1,052.3
1,011.6
688.0
296.1
391.9
93.0
363.7
329.0
251.4
595.3
6,285.3
1,719.7
1.117.6
602.1
4.565.6
808.7
2.573.5
408.4
2.165.1
1,085.8
1,079.3
705.8
305.5
400.3
103.7
373.9
247.0
268.4
628.6
6,343.6
1,731.5
1.120.7
610.8
4.612.1
820.3
2.616.9
413.0
2.203.9
1,107.1
1,096.8
702.2
302.7
399.5
105.5
367.3
236.9
274.4
649.6
6,377.6
1,729.7
1,112.4
617.3
4.647.9
830.0
2.646.3
418.8
2.227.5
1,119.7
1.107.7
702.9
304.3
398.5
103.3
365.5
250.6
264.7
645.8
6,429.6
1,759.5
1,121.9
637.6
4.670.1
837.6
2.664.7
424.5
2.240.2
1,120.3
1,119.9
698.7
302.4
396.3
101.7
367.4
238.1
271.3
642.2
6,469.7
1,735.9
1.089.6
646.3
4,733.8
842.1
2.698.3
428.4
2.269.9
1,137.2
1,132.7
700.1
305.7
394.4
114.4
378.9
216.2
271.8
654.2
6,499.2
1,727.7
1.089.3
638.4
4.771.5
844.7
2.747.2
432.7
2.314.4
1,167.4
1,147.0
703.3
307.3
396.0
103.5
372.8
202.5
257.3
648.2
6,560.1
1,728.4
1.084.3
644.1
4.831.7
846.7
2.788.0
435.7
2.352.3
1,193.6
1.158.8
713.9
307.7
406.2
103.7
379.3
221.3
246.6
655.1
6,548.3
1,717.9
1,081.4
636.5
4.830.4
842.7
2.787.2
434.6
2.352.6
1,196.4
1,156.2
709.1
305.6
403.6
112.5
379.0
205.5
239.8
660.0
6,550.7
1,725.2
1.085.1
640.1
4.825.5
848.8
2.784.2
436.2
2.348.0
1,187.9
1,160.1
713.7
308.2
405.5
102.4
376.4
217.8
238.8
656.6
6,557.3
1,726.9
1.087.3
639.6
4.830.4
847.8
2.785.4
435.7
2.349.7
1,191.2
1.158.5
718.8
309.7
409.1
98.1
380.4
231.4
240.4
649.6
6,587.8
1,741.4
1.079.8
661.6
4.846.4
847.4
2.800.8
436.6
2.364.2
1,201.9
1,162.3
716.8
308.0
408.8
102.0
379.3
234.6
260.1
656.8
7,088.0
7,360.6
7,436.2
7,471.0
7,513.2
7,543.8
7,539.1
7,614.6
7,585.1
7,595.4
7,610.2
7,671.0
4.621.3
640.5
3.980.9
640.3
3.340.6
1,256.1
404.9
851.3
214.8
399.6
4.830.2
655.4
4.174.9
711.1
3.463.8
1,227.7
329.7
898.0
254.3
392.5
4.876.6
680.9
4.195.7
718.2
3,477.5
1,241.8
321.2
920.6
247.5
394.0
4.916.2
667.0
4.249.2
730.8
3.518.4
1,255.5
333.7
921.9
230.5
398.3
4.899.7
654.8
4.244.9
739.5
3.505.4
1,274.7
322.2
952.5
259.0
397.2
4.938.7
674.8
4.263.9
746.8
3.517.0
1,273.9
314.9
959.0
235.2
397.8
4.970.2
646.5
4.323.8
761.2
3.562.6
1,247.7
295.1
952.6
242.6
387.6
4.991.4
649.9
4.341.5
764.6
3.576.9
1,267.9
294.9
973.0
262.7
391.1
4.984.2
601.4
4.382.8
765.5
3.617.3
1,263.1
287.7
975.4
264.8
379.6
5.004.2
653.4
4.350.8
765.2
3.585.7
1,246.3
287.1
959.2
254.9
386.3
4.967.2
692.2
4.275.1
766.2
3.508.8
1,297.4
300.1
997.3
261.6
382.4
5.002.6
671.3
4.331.4
761.1
3.570.3
1,272.3
304.1
968.2
268.3
417.8
6,491.8
6,704.8
6,759.9
6,800.4
6,830.6
6,845.6
6,848.1
6,913.1
6,891.7
6,891.7
6,908.6
6,961.0
596.2
655.8
676.3
670.6
682.7
698.2
691.0
701.6
693.4
703.7
701.6
709.9
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
Aug.
2005
2005
2004
Feb.
Mar.
Apr.
May
June
July
Aug.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
Seasonall 1 adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Trading account
5
Investment account
6
Mortgage-backed
7
Other
8
Other securities
9
Trading account
10
Investment account
11
State and local government . .
12
Other
13 Loans and leases in bank credit3 . . . .
14
Commercial and industrial
15
Real estate
16
Revolving home equity
17
Other
18
Other residential
19
Commercial
20
Consumer
21
Security4
22
Federal funds sold to and
repurchase agreements
with broker-dealers
23
Other
24
State and local government
25
Agricultural
26
Federal funds sold to and
repurchase agreements with
others
27
All other loans
28
Lease-financing receivables
29 Interbank loans
30
Federal funds sold to and
repurchase agreements with
commercial banks
31
Other
32 Cash assets5
33 Other assets6
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
45 Total liabilities
46 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,351.0'
940.8
585.6
40.5
545.2
434.9
110.2
355.2
192.0
163.2
32.9
130.3
2,410.2'
456.4'
1,221.1'
254.0
967.1'
608.4
358.7'
384.9
85.2
3,548.5'
1,005.3
624.6
51.3
573.3
467.7
105.6
380.6
203.3
177.4
34.3
143.1
2,543.3'
479.4'
1,295.3'
292.3
1,003.0'
629.5
373.5'
391.3
99.8
3,573.5'
1,024.7
632.6
52.2
580.5
472.6
107.9
392.1
204.9
187.2
35.2
152.0
2,548.8'
483.5'
1,305.8'
297.2
1,008.6'
634.2
374.4'
389.9
100.0
3,562.9
1,010.8
610.8
47.8
563.0
464.2
98.8
400.0
208.1
192.0
36.1
155.9
2,552.0
486.9'
1,313.6
298.8
1,014.8
639.0
375.8
388.5
96.6
3,569.5
1,031.2
611.4
53.9
557.5
458.2
99.3
419.9
218.7
201.1
36.8
164.3
2,538.3
490.6
1,300.5
299.6
1,000.9
623.2
377.6
382.0
98.4
3,588.2
1,019.3
591.0
51.0
540.0
440.7
99.3
428.3
224.0
204.3
36.6
167.7
2,568.9
493.7'
1,316.3
300.0'
1,016.3
634.2
382.1
379.9'
105.1
3,608.8
1,022.0
597.6
49.4
548.2
448.9
99.3
424.4
214.9
209.5
37.6
171.9
2,586.8
494.4'
1,350.1'
303.1'
1,047.0
658.5
388.5
381.8'
94.6
3,640.7
1,016.7
594.0
46.7
547.3
447.5
99.8
422.7
211.9
210.8
37.8
173.0
2,624.0
496.8
1,373.9
303.5
1,070.4
677.5
392.9
385.6
94.3
3,637.7
1,007.3
589.7
44.2
545.5
445.5
99.9
417.6
207.5
210.1
37.7
172.4
2,630.3
493.9
1,373.1
303.8
1,069.3
677.7
391.7
384.8
103.5
3,630.4
1,015.2
597.2
48.6
548.6
448.1
100.4
418.1
208.3
209.7
37.9
171.9
2,615.2
498.7
1,369.6
303.8
1,065.8
671.7
394.1
386.2
91.5
3,645.0
1,016.8
598.2
50.7
547.6
448.4
99.1
418.6
208.6
209.9
38.0
172.0
2,628.2
498.9
1,373.7
303.4
1,070.3
678.0
392.3
387.8
90.9
3,651.2
1,026.1
589.5
42.1
547.4
447.3
100.1
436.6
222.8
213.8
38.0
175.8
2,625.1
496.1
1,381.7
303.0
1,078.7
684.9
393.8
384.4
91.6
65.3
19.9
15.8'
9.2
77.9
21.9
16.9'
9.3
77.3
22.7
17.0'
9.2
81.5
15.0
16.9
9.2
82.7
15.7
16.9
9.1
89.4
15.7
16.8
9.0
79.6
15.0
17.0
9.1
78.6
15.7
17.5
9.2
87.3
16.1
17.2
9.2
76.0
15.5
17.4
9.2
74.9
15.9
17.6
9.2
76.3
15.3
17.9
9.2
23.3
119.3'
95.1'
256.0
27.3
127.9'
96.1'
171.9
28.1
120.5'
94.8'
157.7
22.1
124.5
93.7'
171.9
20.6
127.5
92.7
164.4
26.2
129.4'
92.6
145.7
21.2
125.7'
92.7
135.3
24.7
129.4
92.6
149.5
23.0
133.0
92.6
138.6
21.2
128.8
92.5
137.9
27.9
129.6
92.6
165.1
24.0
127.3
92.8
162.2
140.5
115.6
144.7
440.4'
106.9
65.0
156.2
457.5'
92.7
65.1
170.3
470.3'
108.2
63.7
157.0
458.5
98.9
65.5
163.2
447.0
80.1
65.6
168.3
452.3
67.3
68.1
150.2
445.9
83.3
66.2
144.1
453.3
71.6
67.1
144.1
453.0
74.4
63.5
134.1
452.8
96.7
68.4
146.2
457.1
96.1
66.1
148.3
455.8
4,153.6'
4,298.1
4,336.7
4,315.4
4,309.7
4,320.1
4,306.1
4,353.8
4,339.3
4,321.3
4,379.5
4,383.9
2,381.3
319.5
2,061.8
303.4
1,758.4
782.9
218.3
564.6
202.0'
325.0
2,470.0'
322.3
2,147.7'
337.5'
1,810.2
735.0
165.9
569.1
240.1'
316.7
2,498.1'
334.8
2,163.3'
341.4'
1,821.8
758.9
153.2
605.8
247.6'
329.1
2,501.1'
312.8
2,188.3'
348.5'
1,839.8'
750.0
162.5
587.4
239.1'
346.1
2,504.7'
316.1
2,188.6'
350.6'
1,838.1'
742.6
152.3
590.3
250.4'
327.8
2,518.4'
327.6
2,190.8'
352.8'
1,838.0
752.8
150.2
602.7
227.0
324.9
2,527.4
303.8
2,223.6
361.1
1,862.5
742.4
133.7
608.7
236.3
322.4
2,535.8
316.4
2,219.4
358.1
1,861.3
767.8
134.7
633.1
249.5
316.2
2,525.7
289.1
2,236.6
360.0
1,876.6
767.2
127.4
639.9
256.1
311.0
2,533.7
317.0
2,216.7
359.7
1,857.0
749.2
127.0
622.2
242.8
314.1
2,549.9
364.2
2,185.7
358.8
1,826.9
792.7
138.0
654.8
244.6
303.6
2,536.6
314.8
2,221.8
353.0
1,868.9
770.4
146.6
623.8
251.4
335.3
3,691.1'
3,761.7'
3,833.7'
3,836.3'
3,825.6'
3,823.2'
3,828.4
3,869.4
3,860.0
3,839.8
3,890.8
3,893.7
462.4'
536.3'
503.0'
479.1'
484.1'
496.9'
477.6
484.4
479.4
481.5
488.7
490.2
18
Federal Reserve Bulletin Statistical Supplement • September 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities' —Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Aug.
2005
2005
2004
Feb.
Mar.
Apr.
May
June
July
Aug.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
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 assets58
81 Other assets
82 Total assets7
83
84
85
86
87
88
89
90
91
92
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
93 Total liabilities
94 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,350.0'
942.1
585.0
40.3
544.7
434.9
109.8
357.1
193.0
164.0
33.1
131.0
2,407.9'
454.9'
1,222.4'
254.9
967.4'
608.6
358.8'
383.3
139.6
243.6
86.0
3,533.6'
1,002.1
620.1
51.7
568.4
462.0
106.3
382.0
204.0
178.0
34.4
143.6
2,531.5'
477.4'
1,290.7'
292.8
997.9'
626.3
371.6'
394.4
152.2
242.2
95.7
3,541.4'
1,008.2
620.7
51.7
569.0
462.2
106.9
387.5
202.5
185.0
34.8
150.2
2,533.2'
483.9'
1,297.5'
294.8
1,002.7'
630.5
372.2'
387.8
145.7
242.1
97.3
3,547.3
1,003.3
610.4
48.1
562.3
462.9
99.4
392.8
204.3
188.5
35.4
153.1
2,544.0
489.1'
1,310.6
297.8
1,012.7
637.7
375.0
385.1
145.2
239.9
94.9
3,572.2
1,036.8
621.8
54.7
567.1
466.2
100.8
415.0
216.2
198.8
36.4
162.4
2,535.4
492.6
1,304.9
300.5
1,004.4
625.4
379.0
379.2
142.6
236.7
93.6
3,591.8
1,019.8
593.6
51.4
542.2
442.2
100.0
426.2
222.9
203.3
36.4
166.9
2,572.0
495.0'
1,319.1
301.1
1,018.0
635.2
382.8
377.4
143.9
233.5
106.1
3,602.6
1,018.0
598.1
49.2
548.9
449.9
99.0
419.9
212.6
207.3
37.2
170.1
2,584.6
493.7'
1,350.4'
303.8'
1,046.6
658.2
388.4
378.3'
143.9
234.4'
95.1
3,640.0
1,018.4
593.5
46.5
546.9
447.5
99.5
424.9
213.0
211.9
38.0
173.9
2,621.6
495.1
1,375.5
304.7
1,070.7
677.7
393.0
383.9
142.0
241.9
95.1
3,634.7
1,008.5
589.6
44.0
545.6
446.1
99.5
418.8
208.1
210.7
37.8
172.9
2,626.3
492.4
1,376.3
304.7
1,071.6
679.1
392.5
381.3
141.0
240.2
104.0
3,631.3
1,015.3
594.4
48.4
546.1
446.1
99.9
420.9
209.7
211.2
38.1
173.0
2,616.0
497.2
1,372.1
305.0
1,067.0
672.5
394.6
384.1
142.8
241.4
93.6
3,633.5
1,015.9
596.2
50.3
545.9
447.5
98.4
419.7
209.2
210.5
38.1
172.4
2,617.6
495.8
1,373.1
304.3
1,068.8
677.0
391.8
386.9
142.8
244.1
89.3
3,659.7
1,031.3
589.8
42.1
547.8
447.8
100.0
441.5
225.3
216.2
38.4
177.8
2,628.4
494.9
1,383.5
304.8
1,078.7
684.8
393.8
384.9
141.5
243.3
93.4
65.9
20.1
15.8'
9.3
74.7
21.0
16.9'
9.2
75.3
22.1
17.0'
9.1
80.2
14.8
16.9
9.1
78.7
14.9
16.9
9.1
90.3
15.8
16.8
9.1
80.0
15.1
17.0
9.2
79.3
15.8
17.5
9.2
87.8
16.2
17.2
9.2
77.8
15.8
17.4
9.2
73.7
15.7
17.6
9.3
77.8
15.6
17.9
9.3
23.3
118.1'
94.9'
256.4
27.3
124.2'
95.8'
166.8
28.1
118.0'
94.5'
157.2
22.1
122.6
93.6'
176.7
20.6
125.8
92.6
167.2
26.2
130.0'
92.4
147.6
21.2
127.1'
92.6
134.7
24.7
128.1
92.5
149.6
23.0
130.4
92.4
136.5
21.2
128.6
92.4
143.3
27.9
125.4
92.4
159.5
24.0
127.9
92.7
163.6
140.7
115.7
137.0
442.6'
103.7
63.1
156.2
450.9'
92.4
64.8
164.0
465.6'
111.2
65.5
155.9
458.1
100.5
66.7
159.4
446.1
81.2
66.4
160.9
448.4
66.9
67.7
145.3
448.1
83.3
66.3
136.3
455.8
70.5
66.1
129.0
457.6
77.3
66.0
129.1
457.9
93.4
66.1
130.3
452.7
97.0
66.7
150.3
458.3
4,147.3
4,271.0
4,292.7
4,303.2
4,310.4
4,314.2
4,296.8'
4,347.7
4,323.8
4,327.6
4,342.0
4,398.2
2,371.3
305.3
2,066.0
303.0'
1,763.0'
779.2
220.8
558.5
201.6'
324.6
2,475.5'
318.6
2,156.9'
341.2'
1,815.8
733.1
163.4
569.7
245.4'
323.3
2,487.6'
330.2
2,157.4'
339.0'
1,818.5
746.8
154.4
592.5
241.5'
321.2
2,504.3'
319.1
2,185.2'
343.4'
1,841.9'
756.5
167.0
589.5
224.8'
326.5
2,487.2'
311.0
2,176.2'
347.2'
1,829.1'
760.9
152.9
608.0
248.1'
324.7
2,512.0'
324.5
2,187.5'
352.1'
1,835.4
764.5
149.6
614.9
225.3
322.4
2,519.8
301.6
2,218.2
359.2
1,859.0
743.8
133.5
610.3
229.5
314.4
2,526.1
302.2
2,224.0
357.7
1,866.3
762.2
136.3
625.9
248.9
315.9
2,519.0
269.7
2,249.3
360.0
1,889.3
757.5
128.6
628.9
250.9
305.8
2,534.1
308.4
2,225.7
359.7
1,866.0
746.5
129.6
616.9
240.0
311.2
2,508.3
333.2
2,175.2
357.7
1,817.5
783.0
138.7
644.3
248.4
307.6
2,538.7
311.0
2,227.7
352.2
1,875.4
767.7
148.1
619.6
255.0
339.8
3,676.7'
3,777.3'
3,797.1'
3,812.1'
3,820.9'
3,824.2'
3,807.5
3,853.1
3,833.2
3,831.7
3,847.3
3,901.2
470.6'
493.7'
495.5'
491.1'
489.5'
490.1'
489.3'
494.5
490.7
495.9
494.7
497.0
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
Aug.
2005
2005
2004
Feb.
Mar.
Apr.'
May'
June'
July'
Aug.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
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
2,636.1'
710.3
502.0'
208.3'
1,925.8'
311.7'
1,200.4'
104.1
1,096.3'
306.4
6.9
100.4'
73.0
116.3
152.7
2,755.0'
719.8
499.7'
220.1'
2,035.3'
331.4'
1,283.5'
115.9
1,167.6'
309.5
8.0
102.9'
80.0
114.2
177.8
2,813.0'
721.9
498.5'
223.3'
2,091.1'
335.8'
1,326.6'
118.9
1,207.7'
318.8
7.9
102.1'
75.7
115.1
184.1
2,842.1
724.2
499.7
224.5
2,117.9
339.4
1,344.9
121.3
1,223.5
322.9
8.3
102.5
70.4
111.7
187.7
2,864.1
723.1
500.5
222.6
2,141.0
342.7
1,364.4
123.9
1,240.5
322.6
8.3
103.1
73.1
112.8
196.1
2,888.7
716.0
495.9
220.1
2,172.6
345.2
1,388.0
127.0
1,261.0
327.3
8.3
103.8
69.9
111.4
205.9
2,906.5
711.8
493.2
218.6
2,194.7
350.8
1,402.3
128.8
1,273.5
329.0
8.4
104.3
70.1
111.9
200.1
2,922.9
711.6
492.4
219.2
2,211.4
353.6
1,412.2
130.7
1,281.5
331.7
8.5
105.4
72.1
112.2
199.3
2,919.9
711.0
493.3
217.7
2,208.9
352.1
1,412.4
129.8
1,282.6
331.5
8.2
104.8
67.6
115.7
202.4
2,922.3
712.4
493.2
219.2
2,210.0
353.2
1,411.9
130.8
1,281.1
331.0
8.6
105.2
74.1
110.7
198.7
2,925.1
712.2
492.3
220.0
2,212.9
354.5
1,410.8
131.0
1,279.7
332.2
8.9
106.4
75.4
116.9
196.9
2,926.7
710.8
490.6
220.2
2,215.9
354.8
1,414.6
131.7
1,283.0
332.4
8.5
105.5
71.8
105.7
198.4
2,945.8'
3,094.7'
3,155.1'
3,178.8
3,212.7
3,242.1
3,254.5
3,272.1
3,271.1
3,271.3
3,279.7
3,268.1
2,254.0
339.4
1,914.7
337.3
1,577.4
476.9
184.1
292.8
13.2'
75.0
2,365.0
341.3
2,023.6
369.9
1,653.7
494.6
166.3
328.4
8.9'
69.2
2,390.7
355.0
2,035.7
379.2
1,656.5
495.0
166.8
328.2'
6.0'
72.9
2,407.5
347.2
2,060.3
387.4
1,673.0
499.0
166.7
332.4
5.7
71.8
2,417.1
348.1
2,069.0
392.3
1,676.6
513.8
169.3
344.5
10.8
72.5
2,427.8
354.6
2,073.1
394.8
1,678.4
509.3
165.2
344.1
9.9
75.4
2,457.3
345.1
2,112.2
402.0
1,710.2
503.9
161.5
342.4
13.1
73.2
2,469.3
352.0
2,117.2
406.9
1,710.3
505.7
158.7
347.0
13.8
75.2
2,466.5
338.5
2,128.0
405.4
1,722.6
505.6
159.1
346.5
13.9
73.9
2,470.9
348.7
2,122.1
405.5
1,716.6
499.8
157.5
342.3
14.9
75.1
2,477.1
370.7
2,106.5
408.6
1,697.9
514.4
161.4
353.0
13.2
74.8
2,462.3
358.3
2,104.0
408.8
1,695.1
504.6
156.0
348.6
13.3
77.9
2,819.1'
2,937.7'
2,964.5'
2,984.0
3,014.2
3,022.4
3,047.5
3,064.0
3,059.8
3,060.7
3,079.5
3,058.2
126.7'
157.0'
190.5'
194.8
198.5
219.7
207.0
208.1
211.3
210.6
200.2
209.9
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 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.
2,633.3'
708.6
500.3'
208.3'
1,924.7'
309.9'
1,200.8'
104.4
1,096.4'
443.7'
652.7'
304.8
156.5
148.3
7.0
102.3'
72.6
114.5
152.7
2,751.7'
717.6
497.5'
220.1'
2,034.1'
331.4'
1,282.8'
115.6
1,167.2'
459.5'
707.7'
311.4
153.3
158.1
8.0
100.5'
80.2
112.2
177.8
2,802.2'
723.3
500.0'
223.3'
2,078.9'
336.4'
1,319.4'
118.2
1,201.2'
476.6'
724.6'
314.4
157.0
157.4
8.1
100.6'
79.7
110.4
184.1
2,830.3
726.4
501.9
224.5
2,103.9
340.9
1,335.7
121.0
1,214.7
482.0
732.7
317.7
159.1
158.6
8.3
101.3
73.9
108.9
187.7
2,857.4
722.6
500.1
222.6
2,134.7
344.9
1,359.8
124.0
1,235.8
494.9
740.9
319.5
159.9
159.6
8.1
102.4
70.9
111.8
196.1
2,877.9
716.1
496.0
220.1
2,161.8
347.1
1,379.2
127.3
1,251.9
502.0
749.9
322.7
161.8
160.9
8.3
104.4
68.6
110.9
205.9
2,896.6
709.7
491.1
218.6
2,186.9
351.0
1,396.8
129.0
1,267.9
509.2
758.7
324.9
163.3
161.6
8.4
105.7
67.8
112.0
200.1
2,920.1
710.0
490.8
219.2
2,210.1
351.6
1,412.5
130.9
1,281.6
515.9
765.7
330.0
165.7
164.3
8.6
107.3
71.7
110.4
199.3
2,913.6
709.4
491.7
217.7
2,204.2
350.3
1,410.9
130.0
1,280.9
517.2
763.7
327.8
164.5
163.3
8.4
106.6
68.9
110.8
202.4
2,919.4
709.9
490.6
219.2
2,209.5
351.6
1,412.1
131.1
1,281.0
515.5
765.5
329.5
165.4
164.1
8.8
107.5
74.5
109.7
198.7
2,923.9
711.0
491.1
220.0
2,212.9
352.1
1,412.3
131.3
1,280.9
514.2
766.7
331.9
166.9
165.0
8.7
107.9
71.9
110.1
196.9
2,928.1
710.1
489.9
220.2
2,218.0
352.5
1,417.4
131.8
1,285.6
517.1
768.5
332.0
166.5
165.5
8.6
107.5
71.0
109.8
198.4
2,940.7'
3,089.6'
3,143.6'
3,167.8
3,202.9
3,229.5
3,242.3
3,267.0
3,261.3
3,267.7
3,268.2
3,272.7
2,250.0
335.1
1,914.9
337.3
1,577.6
476.9
184.1
292.8
13.2'
75.0
2,354.7
336.8
2,017.9
369.9
1,648.0
494.6
166.3
328.4
8.9'
69.2
2,388.9
350.7
2,038.3'
379.2
1,659.1
495.0
166.8
328.2'
6.0'
72.9
2,411.9
348.0
2,063.9
387.4
1,676.5
499.0
166.7
332.4
5.7
71.8
2,412.5
343.8
2,068.7
392.3
1,676.3
513.8
169.3
344.5
10.8
72.5
2,426.7
350.4
2,076.4
394.8
1,681.6
509.3
165.2
344.1
9.9
75.4
2,450.4
344.8
2,105.5
402.0
1,703.6
503.9
161.5
342.4
13.1
73.2
2,465.3
347.7
2,117.5
406.9
1,710.6
505.7
158.7
347.0
13.8
75.2
2,465.2
331.8
2,133.4
405.4
1,728.0
505.6
159.1
346.5
13.9
73.9
2,470.1
345.0
2,125.2
405.5
1,719.7
499.8
157.5
342.3
14.9
75.1
2,458.9
359.0
2,099.9
408.6
1,691.3
514.4
161.4
353.0
13.2
74.8
2,463.9
360.2
2,103.7
408.8
1,694.9
504.6
156.0
348.6
13.3
77.9
2,815.1'
2,927.5'
2,962.8'
2,988.3
3,009.7
3,021.4
3,040.6
3,060.0
3,058.5
3,059.9
3,061.3
3,059.8
125.6'
162.2'
180.8'
179.4
193.2
208.1
201.7
207.0
202.8
207.8
206.9
212.9
20
Federal Reserve Bulletin Statistical Supplement • September 2005
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
Aug.
2005
2005
2004
Feb.
Mar.
Apr.
May
June
July
Aug.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
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
5
23 Residual (assets less liabilities)
641.3
261.0
92.5
168.6
380.3
135.1
17.1
139.9
88.1
40.4
62.8
37.0
697.5
315.6
97.1
218.6
381.8
145.5
18.9
113.6
103.8
41.7
64.1
31.2
704.9
317.1
94.8
222.2
387.8
145.2
19.0
120.5
103.2
43.0
65.0
33.2
704.7
310.2
86.1
224.0
394.5
150.7
19.2
119.0
105.6
45.0
64.1
34.1
722.2
314.4
88.2
226.2
407.8
155.0
18.2
129.5
105.2
47.9
64.2
35.6
730.9
319.2
88.8
230.4
411.7
154.5
18.2
133.1
105.9
49.1
64.4
37.8
743.2
326.8
87.5
239.3
416.4
161.7'
16.5
126.8
111.3
50.4
65.8
37.3
769.3
335.5
87.0
248.5
433.8
166.0
16.4
139.2
112.2
48.3
66.7
37.6
755.8
332.7
86.2
246.5
423.1
164.7
16.6
129.8
112.0
46.6
66.3
40.6
760.8
330.2
86.7
243.5
430.6
166.1
16.5
135.6
112.3
47.2
66.1
36.9
772.9
335.1
87.2
247.9
437.9
167.0
16.4
142.3
112.3
49.8
66.3
35.5
795.0
346.4
88.4
258.0
448.7
167.1
15.9
153.4
112.3
45.0
66.7
36.1
781.1
834.0
845.7
847.5
869.5
881.7
896.4
921.5
908.9
910.6
924.2
942.5
544.9
11.2
533.7
321.0
43.1
277.9
-177.0
86.4
553.3
13.2
540.2
362.7
44.1
318.6
-185.8
96.1
561.0
14.5
546.5
367.5
43.8
323.6
-181.3
91.5
589.0
14.3
574.6
360.7
44.3
316.4
-203.2
93.4
587.4
14.2
573.2
366.5
39.8
326.7
-192.6
93.0
601.8
14.1
587.7
358.5
44.8
313.7
-183.4
97.9
582.2
14.5
567.7
364.5
41.1
323.4
-147.1'
94.0'
629.2
15.2
613.9
385.7
45.8
339.9
-192.5
95.2
607.1
15.4
591.7
377.9
41.1
336.9
-173.4
97.4
629.6
15.1
614.5
393.3
49.4
343.9
-208.5
94.4
642.3
15.1
627.2
378.7
45.1
333.6
-199.7
93.5
652.3
15.3
636.9
392.2
45.8
346.4
-205.9
96.2
775.3
826.4
838.7
839.8
854.4
874.7
893.5r
917.5
909.0
908.7
914.8
934.8
5.8
7.7
7.1
7.7
15.1
7.0
4.0
-.1
1.9
9.4
7.6
2.9
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.
632.6
261.0
92.5
34.0
58.5
168.6
104.2
64.4
371.6
133.7
17.1
131.7
89.1
40.4
62.9
36.6
699.2
315.6
97.1
38.3
58.8
218.6
116.5
102.1
383.5
147.3
18.9
115.7
101.6
41.7
63.2
32.9
708.1
317.1
94.8
38.8
56.0
222.2
124.2
98.1
391.0
147.2
19.0
121.9
102.9
43.0
62.9
33.2
710.1
310.2
86.1
30.9
55.3
224.0
127.8
96.2
399.9
151.8
19.2
122.2
106.8
45.0
63.5
32.8
719.6
314.4
88.2
31.0
57.2
226.2
130.6
95.6
405.3
155.0
18.2
126.3
105.8
47.9
63.6
36.2
731.0
319.2
88.8
29.6
59.1
230.4
133.5
96.9
411.8
154.0
18.2
132.1
107.5
49.1
63.9
37.8
740.2
326.8
87.5
27.3
60.2
239.3
134.1
105.2
413.4
160.9
16.5
123.4
112.6'
50.4
65.2
36.2
760.5
335.5
87.0
27.2
59.8
248.5
140.3
108.2
425.0
164.3
16.4
130.8
113.5
48.3
66.8
37.3
750.5
332.7
86.2
25.8
60.3
246.5
137.9
108.5
417.9
163.1
16.6
125.2
113.0
46.6
65.9
40.3
752.2
330.2
86.7
27.6
59.1
243.5
136.1
107.4
422.0
164.9
16.5
127.1
113.5
47.2
66.3
36.6
760.7
335.1
87.2
27.7
59.5
247.9
140.6
107.2
425.7
164.8
16.4
131.2
113.3
49.8
66.2
35.1
782.9
346.4
88.4
29.1
59.3
258.0
148.4
109.6
436.5
164.8
15.9
141.8
114.1
45.0
67.2
35.7
772.1
836.6
846.8
851.0
866.9
881.4
891.6
912.4
903.0
901.9
911.5
930.5
537.3
11.1
526.2
321.0
43.1
277.9
-176.6
86.7
560.6
13.2
547.4
362.7
44.1
318.6
-186.1
95.8
566.5
14.0
552.5
367.5
43.8
323.6
-182.0
91.1
600.7
14.0
586.7
360.7
44.3
316.4
-205.7
91.5
600.7
13.9
586.8
366.5
39.8
326.7
-194.8
91.5
610.4
14.0
596.4
358.5
44.8
313.7
-186.3
95.9
580.6
14.5
566.2
364.5
41.1
323.4
-149.1'
92.7
620.4
15.1
605.3
385.7
45.8
339.9
-192.1
95.5
599.0
15.1
583.9
377.9
41.1
336.9
-173.9
97.1
618.9
15.1
603.8
393.3
49.4
343.9
-207.9
94.8
634.1
14.7
619.4
378.7
45.1
333.6
-198.4
94.2
642.0
15.4
626.6
392.2
45.8
346.4
-204.0
97.5
768.4
833.0
843.1
847.3
864.1
878.5
888.8
909.5
900.1
899.1
908.6
927.6
3.8
3.6
3.7
3.7
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
2004
Aug.
2005
2005
Feb.
Mar.
Apr.
May
June
July
Aug.
Aug. 10
Aug. 17
Aug. 24
Aug. 31
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
111.5
89.3
88.4
89.3
90.8
93.2
86.5
89.3
84.5
86.0
84.0
105.0
102.2
497.4
382.8
114.6
78.8
541.6
419.5
122.2
78.8
544.7
422.7
122.0
80.3
546.4
427.0
119.5
82.7
556.9
433.8
123.2
85.3
535.9
411.3
124.6
76.9
544.3
418.8
125.5
79.4
543.5
416.5
127.0
75.4
541.7
414.6
127.1
75.5
541.5
415.6
125.8
75.0
543.4
417.0
126.3
93.5
545.7
416.8
128.8
-.3
151.6
130.8
20.8
6.8
1.5
155.8
134.3
21.6
6.4
-2.6
148.8
127.7
21.0
6.4
-5.0'
147.6
127.0
20.6
6.2
.5'
149.7
129.5
20.1
6.1
3.7'
151.8
129.2
22.6
6.1
.3'
152.6
129.5
23.1
5.9
-2.1
153.2
130.7
22.5
4.9
-3.7
153.4
130.7
22.7
5.7
-2.7
153.0
130.5
22.6
4.5
-2.0
152.8
130.3
22.5
4.5
.3
153.8
131.4
22.3
4.5
322.8
214.0
206.7
7.3
338.7
211.2
201.2
10.0
344.0
213.9
203.9
10.0
343.8
213.4
203.5
9.9
343.8
212.3
202.4
9.9
340.4
212.9
203.1
9.9
337.4
212.2
202.3
9.8
334.5
209.0
201.6
7.4
336.8
207.5
200.4
7.1
337.0
208.7
201.5
7.2
331.9
209.1
202.0
7.2
331.0
210.1
203.0
7.1
57.3
53.7
52.4
52.4
53.3
54.6
55.0
56.9
56.3
55.7
57.1
59.7
59.8
.3
64.8
63.0
.2
62.6
.2
61.9
63.5
.2
62.5
62.2
61.8
.2
60.4
62.6
64.9
.2
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11
securities
12 Mortgage-backed
Securitized consumer
loans12
13
Credit cards and related plans
14
Other
Foreign-related institutions
15 Revaluation gains on off-balancesheet items9
16 Revaluation losses on off-balancesheet items9
17 Securitized business loans12
2
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
2
2
2
2
2. Treasury securities are liabilities of the U.S. Treasury. Agency securities are liabilities of
U.S. government agencies and U.S. government-sponsored enterprises.
3. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks
in the United States, all of which are included in "Interbank loans."
4. Consists of reverse RPs with brokers and dealers and loans to purchase and 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 • September 2005
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2004
2005
Item
2000
2001
2002
2003
2004
Dec.
1 All issuers
1,619,274
1,458,870
1,347,997
1,265,351
1,387,807
2 Financial companies'
3 Nonfinancial companies2
1,275,841
343,433
1,234,023
224,847
1,193,950
154,047
1,160,317
105,034
1,268,158
119,649
1. 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
Jan.
Feb.
Mar.
Apr.
May
1,387,807
1,411,471
1,440,644
1,435,879
1,490,359
1,503,470
1,268,158
119,649
1,274,507
136,964
1,300,161
140,483
1,302,219
133,660
1,344,817
145,543
1,353,098
150,373
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
2
22
3
30
5.50
5.75
6.00
6.25
Period
2001
2002
2003
2004
2002
Average
rate
6.91
4.67
4.12
4.34
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.35
4.25
1. The prime rate is one of several base rates that banks use to price short-term business
loans. The table shows the date on which a new rate came to be the predominant one quoted
by a majority of the twenty-five largest banks by asset size, based on the most recent Call
Period
2003—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
4.25
4.25
4.25
4.25
4.25
4.22
4.00
4.00
4.00
4.00
4.00
4.00
Period
Average
rate
2004—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.00
4.00
4.00
4.00
4.00
4.01
4.25
4.43
4.58
4.75
4.93
5.15
2005—Jan
Feb
Mar
Apr
May
June
July
5.25
5.49
5.58
5.75
5.98
6.01
6.25
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
2005
Item
2002
2003
2005, week ending
2004
Mar.
Apr.
May
June
May 27
June 3
June 10
June 17
June 24
MONEY MARKET INSTRUMENTS
1 Federal funds1-13
2 Discount window primary credit2-4
1.67
n.a.
1.13
n.a.
1.35
2.34
2.63
3.58
2.79
3.75
3.00
3.98
3.04
4.01
3.01
4.00
3.02
4.00
2.98
4.00
4.00
2.98
4.00
paper3'5'6
Commercial
3
4
5
Nonfinancial
1-month
2-month
3-month
1.67
1.67
1.69
1.11
1.11
1.11
1.38
1.40
1.41
2.67
2.74
2.82
2.84
2.92
2.97
2.97
3.04
3.09
3.11
3.18
3.27
2.98
3.05
3.13
3.00
3.08
3.20
3.03
3.09
3.24
3.11
3.18
3.27
3.17
3.23
3.31
6
7
8
Financial
1-month
2-month
3-month
1.68
1.69
1.70
1.12
1.13
1.13
1.41
1.46
1.52
2.71
2.81
2.91
2.87
2.96
3.02
3.00
3.08
3.15
3.15
3.22
3.30
3.00
3.11
3.19
3.04
3.13
3.22
3.07
3.17
3.25
3.14
3.22
3.31
3.21
3.26
3.35
Certificates of deposit, secondary market3-1
1-month
3-month
6-month
1.72
1.73
1.81
1.15
1.15
1.17
1.45
1.57
1.74
2.77
2.97
3.23
2.94
3.09
3.34
3.05
3.22
3.44
3.20
3.38
3.56
3.05
3.25
3.47
3.09
3.29
3.48
3.14
3.33
3.50
3.20
3.37
3.58
3.27
3.42
3.60
12 Eurodollar deposits, 3-month3>s
1.73
1.14
1.55
2.95
3.08
3.20
3.36
3.24
3.27
3.31
3.36
3.40
US Treasury bills
Secondary market3-5
13
4-week
14
3-month
15
6-month
1.60
1.61
1.68
1.00
1.01
1.05
1.24
1.37
1.58
2.60
2.74
3.00
2.59
2.78
3.05
2.59
2.84
3.08
2.78
2.97
3.13
2.71
2.89
3.07
2.75
2.92
3.05
2.77
2.95
3.05
2.73
2.94
3.13
2.76
2.98
3.17
2.00
2.64
3.10
3.82
4.30
4.61
5.43
1.24
1.65
2.10
2.97
3.52
4.01
4.96
1.89
2.38
2.78
3.43
3.87
4.27
5.04
3.30
3.73
3.91
4.17
4.33
4.50
4.89
3.32
3.65
3.79
4.00
4.16
4.34
4.75
3.33
3.64
3.72
3.85
3.94
AAA
4.56
3.36
3.64
3.69
3.77
3.86
4.00
4.35
3.32
3.63
3.71
3.81
3.86
4.07
4.47
3.28
3.55
3.60
3.69
3.79
3.95
4.33
3.30
3.62
3.67
3.75
3.83
3.97
4.31
3.39
3.71
3.77
3.88
3.97
4.10
4.46
3.40
3.65
3.69
3.77
3.86
4.00
4.35
4.87
5.64
5.04
4.52
5.20
4.75
4.50
5.09
4.68
4.29
4.87
4.57
4.18
4.80
4.46
4.20
4.86
4.31
4.08
4.76
4.23
4.26
4.92
4.24
4.15
4.83
4.18
4.06
4.74
4.21
4.12
4.80
4.31
4.04
4.72
4.23
7.10
6.24
6.00
5.71
5.60
5.49
5.30
5.43
5.29
5.24
5.40
5.30
6.49
6.93
7.18
7.80
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
5.40
5.65
5.73
6.06
5.33
5.44
5.58
6.05
5.15
5.29
5.49
6.01
4.96
5.03
5.33
5.86
5.08
5.22
5.43
5.98
4.95
5.06
5.31
5.83
4.92
4.97
5.29
5.80
5.06
5.13
5.44
5.96
4.96
5.03
5.34
5.87
1.61
1.72
1.66
1.80
2.01
1.99
1.98
1.92
1.97
1.98
1.98
1.97
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 • September 2005
1.36
STOCK MARKET
Selected Statistics
2005
2004
Indicator
2002
2003
2004
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Pr ces and trac ng volume (averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31.1965 = 50)
5.571.46
656.44
430.63
260.50
554.88
5.456.48
634.11
437.37
238.05
566.74
6,614.10
741.19
521.11
271.45
657.07
6.933.75
n.a.
n.a.
n.a.
n.a.
7.134.42
n.a.
n.a.
n.a.
n.a.
7.056.84
n.a.
n.a.
n.a.
n.a.
7.241.89
n.a.
n.a.
n.a.
n.a.
7.275.51
n.a.
n.a.
n.a.
n.a.
7,077.97
n.a.
n.a.
n.a.
n.a.
7.094.02
n.a.
n.a.
n.a.
n.a.
7,238.96
n.a.
n.a.
n.a.
n.a.
7.389.23
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
993.94
965.23
1,130.65
1,168.94
1,199.21
1,181.41
1,199.63
1,194.90
1,164.42
1,178.28
1,202.25
1,222.24
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
860.11
943.44
1,260.02
1,353.08
1,410.28
1,406.85
1,483.76
1,483.97
1,453.79
1,455.72
1,519.42
1,556.30
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1 411 689 1 361 043 1 403 376 1 422 498 1 397 797 1 569 946 1 549 991 1 600 618 1 643 376 1 452 615 1 405 330 1 430 294
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
134,380
173,220
203,790
196,990
203,790
203,320
199,480
201,690
194,160
196,270
200,500
210,940
95.690
73,340
92.560
84,920
117.850
93,580
110.960
85,740
117.850
93,580
115.350
87,260
94.330
77,960
100.200
80,200
97.450
74,720
99.480
72,690
105.550
76,380
99.000
74,130
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
2003
1 Federal debt outstanding
....
2 Public debt securities
3
Held by public
4
Held by agencies
5 Agency securities
6
Held by public
7
Held by agencies
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
6,697.1
6,810.3
7,023.4
7,156.2
7,298.6
7,403.2
7,620.4
7,801.0
7,860.2'
6,670.1
3.816.3
2,853.8
6,783.2
3,923.9
2,859.3
6,998.0
4,044.1
2,954.5
7,131.1
4,176.7
2,954.4
7,274.3
4,218.7
3,055.6
7,379.0
4,303.4
3,075.7
7,596.1
4,406.4
3,189.8
7,776.9
4,572.4
3,204.5
7,836.5'
4,527.6'
3,308.9'
27.0
27.0
.0
27.0
27.0
.0
25.4
24.9
.5
25.1
25.1
.0
24.2
24.2
.0
24.2
23.7
.4
24.3
23.9
24.1
24.1
23.7'
23.7'
7,715.5
7,778.1'
7,715.4
7,778.0'
.4
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
7,333.4
7,535.6
6,625.3
.2
6,737.3
.3
6,952.6
.3
7,088.5
.1
7,229.2
.1
7,384.0
7,384.0
7,384.0
7,384.0
7,384.0
7,333.2
.2
7,535.5
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
5,943.4
6,405.7
6,998.0
7,596.1
5,930.8
2,982.9
6,391.4
6,982.0
3,205.1
3,575.1
7,578.5
3,959.7
811.3
1,413.9
888.8
1,580.8
588.7
146.9
3,186.3
928.8
1,905.7
564.3
602.7
140.1
2,947.9
176.2
1,003.2
2,157.1
539.5
245.9
3,618.8
Q3
Q4
Ql
Q2
7,364.2
3,846.0
961.5
2,109.5
552.0
223.0
3,518.2
158.2
5.9
5.9
.0
7,578.5
3,959.7
7,759.9
7,818.0
4,103.7
1,059.1
4,031.0
1,003.2
2,157.1
160.7
2,226.6
537.2
266.8
3,656.2
179.0
5.9
5.9
.0
6.1
6.1
.0
191.7
3,230.6
192.2
3,248.9
17.6
17.0
539.5
245.9
3,618.8
923.4
2,273.0
529.9
290.6
3,787.0
206.7
3.0
3.0
.0
190.9
3,356.3
18.5
2,574.8
11.2
11.2
.0
184.8
2,806.9
3,406.9
149.2
9.7
9.7
.0
192.2
3,007.0
3,230.6
194.1
3,130.0
12.7
14.3
16.0
17.6
14.9
2,564.3
551.7
2,819.5
181.5
257.5
105.7
339.4
2 757.8
629.4
3,018.5
222.8
278.8
139.7
351.5
2,955.1
666.7
3,377.9
154.0
279.6
136.5
358.8
3,189.1
717.8
3,667.1
128.1
253.1
149.2
385.8
3 075.7
700.3
3,607.0
141.0
254.5
146.6
376.8
3,189.1
717.8
3,667.1
128.1
253.1
149.2
385.8
3,206.6
717.3
3,855.4
142.9'
262.3'
153.4'
407.1'
3,311.6
724.7
190.3
273.1
120.6
152.4
1,051.2
420.9
194.9
278.8
134.7
144.1
1,246.8
323.4
203.8
288.2
140.8
147.4
1,538.1
452.6
204.4
295.7
151.0
144.7
1,942.0
307.8
204.1
298.1
150.4
147.7
1,886.2
276.2
204.4
295.7
151.0
144.7
1,942.0
307.8
204.2
312.4'
153.8'
158.6'
1,982.2'
407.4
204.2
316.9
157.6
159.3
2,030.0
n.a.
146.3
15.4
15.4
181.5
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.
153.4
160.7
5.9
5.9
.0
191.7
3,803.0
127.9
249.1
154.6
430.6
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 • September 2005
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2005
Item
By type of security
1 U.S. Treasury bills
Treasury coupon securities by maturity
2 Three years or less
3
More than three but less than or
equal to six years
4
More than six but less than or equal
to eleven years
5
More than eleven
6
Inflation-protected2
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
Mar.
Apr.
2005, week end
May
May 4
May 11
May 18
May 25
June 1
June 8
June 15
June 22
June 29
61,512
56,628
46,818
51,538
39,075
46,552
45,421
57,774
56,613
42,931
39,263
53,446
190,446
202,529
225,682
211,972
272,756
195,647
210,527
236,250
216,562
198,233
155,713
170,189
149,419
139,265
153,602
116,483
159,070
159,160
163,985
155,038
178,387
156,276
139,249
110,113
132,387
32,750
7,828
123,494
29,085
9,081
144,941
31,605
8,163
114,265
36,345
8,706
128,762
33,519
6,341
161,925
26,349
8,837
152,851
29,746
8,704
161,094
35,534
8,632
144,347
41,656
8,934
141,303
30,109
8,613
120,536
26,915
8,918
112,503
27,488
6,867
56,370
53,326
63,491
64,976
66,441
67,567
58,165
59,170
50,507
59,552
58,191
59,857
9,060
8,140
6,618
7,482
6,204
6,240
6,313
7,581
12,620
7,544
6,757
6,922
6,234
4,295
5,115
2,840
5,584
3,784
6,072
7,232
6,287
5,254
9,697
4,500
4,099
377
3,421
551
2,522
500
1,532
419
2,501
469
2,839
386
2,828
762
2,508
386
2,197
652
4,556
1,331
3,427
412
2,355
488
269,687
252,731
273,983
233,222
416,514
247,620
204,909
236,252
408,727
301,551
189,250
200,479
158,935
23,609
148,748
20,678
155,846
20,203
159,333
19,749
157,462
19,967
162,920
17,905
153,231
21,979
142,234
21,919
147,162
24,478
151,005
20,513
169,942
19,177
166,869
23,157
249,456
239,768
253,229
226,875
269,620
247,433
252,757
262,712
271,923
237,251
203,251
199,065
7,083
71,945
664
6,107
64,409
591
5,914
66,119
561
5,312
54,056
661
5,891
100,629
513
5,726
61,163
533
6,338
50,311
514
6,161
55,274
664
7,279
99,619
686
5,851
83,157
583
6,226
47,250
508
4,980
45,419
567
324,886
320,316
357,582
312,435
369,902
351,036
358,477
391,611
374,577
340,214
287,344
281,541
69,057
197,741
181,880
63,626
188,322
168,836
72,331
207,863
175,488
71,936
179,166
178,421
75,309
315,884
176,917
75,090
186,458
180,293
67,801
154,598
174,696
70,717
180,978
163,488
64,984
309,108
170,953
72,385
218,394
170,935
72,258
141,999
188,611
69,142
155,061
189,459
NOTE: Major changes in the report form filed by primary dealers induced a break in the
dealer data series as of the week ending July 4, 2001. Current weekly data may be found at the
Federal Reserve Bank of New York website (www.ny.frb.org/markets/primarydealers.html)
under the Primary Dealer heading.
1. The figures represent purchases and sales in the market by the primary U.S. government
securities dealers reporting to the Federal Reserve Bank of New York. Outright transactions
include all U.S. government, federal agency, government-sponsored enterprise, mortgage-
backed, and corporate securities scheduled for immediate and forward delivery, as well as all
U.S. government securities traded on a when-issued basis between the announcement and
issue date. Data do not include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the week.
2. Outright Treasury inflation-protected securities (TIPS) transactions are reported at
principal value, excluding accrued interest, where principal value reflects the original issuance par amount (unadjusted for inflation) times the price times the index ratio.
Federal Finance
1.43
U.S. GOVERNMENT SECURITIES DEALERS
27
Positions and Financing
Millions of dollars
2005, week ending
2005
Item, by type of security
Mar.
Apr.
May
May 4
May 11
May 18
May 25
Junel
June 8
June 15
June 22
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
43,797
18,887
-7,905
-5,906
-12,098
-8,822
-12,669
2,280
12,719
3,376
3,723
-62,824
-53,830
-46,616
-54,733
-47,824
-43,605
-46,925
-42,949
-45,481
-55,400
-58,094
-46,922
-51,382
-43,956
-53,273
-42,733
-42,359
-40,403
-45,180
-30,251
-33,396
-36,671
-26,255
-12,740
-1,438
-17,943
-8,435
-666
-22,155
-5,639
-373
-19,465
-7,589
-20
-25,231
-6,453
76
-18,438
-4,189
-775
-19,914
-5,826
-543
-27,312
-4,864
-465
-27,806
-5,244
-1,156
-22,634
-6,763
-963
-30,554
-2,688
245
52,900
51,135
58,258
56,030
58,305
60,111
56,812
59,214
56,843
59,448
56,713
24,530
27,038
28,161
26,295
29,108
28,311
28,424
27,818
32,283
29,821
29,558
9,664
10,525
8,285
10,106
9,541
7,150
7,575
7,757
8,140
9,391
11,510
955
3,508
3,626
3,929
3,565
5,031
4,321
4,362
3,746
4,766
3,763
4,850
3,273
5,413
2,961
5,553
2,666
5,578
2,934
4,506
2,556
4,387
25,714
15,260
21,845
14,922
20,111
18,829
24,063
29,416
41,836
34,564
37,790
30,428
121,569
34,145
128,494
34,636
122,514
39,494
123,663
35,299
121,255
31,909
121,134
31,187
121,572
37,829
125,924
36,452
134,743
45,549
132,824
37,346
133,438
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
1 090 859
1,248,604
1 087 281
1,083,958
1 132 990
1,241,818
1 154 865
1,165,349
1 121 774
1,286,790
1 135 687
1,209,548
1 133 515
1,274,352
1 127 731
1,240,024
1 127 273
1,338,522
1 098 572
1,354,613
1 060 388
1,431,665
178,226
209,711
165,335
204,788
169,023
209,542
162,871
203,569
165,492
210,285
175,684
206,354
166,096
211,176
172,887
214,468
158,199
213,477
161,456
203,508
168,838
208,862
67,932
375,976
72,003
376,870
87,160
405,065
82,567
391,094
83,861
391,573
82,648
414,197
99,660
416,807
84,753
405,766
90,629
415,119
65,369
412,939
71,508
410,568
110,722
66,292
111,921
68,767
109,852
70,625
110,588
71,718
110,607
71,362
108,075
71,195
109,185
69,573
111,330
69,599
110,023
69,327
110,848
70,067
107,160
72,022
737,563
1 633 990
721,798
1 450 384
776,108
1 627 924
764,515
1 567 602
752,879
1 665 946
773,655
1 604 881
794,534
1 657 530
792,301
1 616 125
777,882
1 715 705
740,625
1 722 421
709,827
1 797 159
981 482
1,134,060
987 909
972,657
1 085 400
1,077,139
1 038 593
1,040,724
1 064 820
1,131,211
1 084 958
1,028,532
1112 455
1,093,013
1 109 565
1,076,519
1112 309
1,162,360
1 086 968
1,174,626
1,048,527
1,245,231
311,203
143,120
302,341
143,598
313,829
143,234
309,868
144,562
304,761
146,582
329,583
141,985
307,035
141,596
316,598
141,813
307,012
145,373
296,975
157,009
301,209
169,639
455,106
253,800
474,600
239,630
497,919
232,151
499,864
231,547
487,682
227,325
498,794
239,173
516,582
231,057
485,771
231,269
490,257
238,652
537,898
254,679
517,727
258,424
202,670
45,804
210,775
48,325
213,298
50,094
218,537
50,785
217,911
49,460
209,705
50,543
208,062
50,206
214,726
49,720
211,551
50,916
225,519
51,126
216,063
46,450
1,712,859
1,500,857
1,744,745
1,326,124
1,877,649
1,420,720
1,840,115
1,390,348
1,841,823
1,471,096
1,887,217
1,377,415
1,907,448
1,431,488
1,898,539
1,420,157
1,889,454
1,519,853
1,913,278
1,564,564
1,844,860
1,646,094
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 • September 2005
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 Bank^3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service6
8
Tennessee Valley Authority
9
United States Railway Association6
10 Federally sponsored agencies7
11
Federal Home Loan Banks
12 Federal Home Loan Mortgage Corporation . .
13 Federal National Mortgage Association
14 Farm Credit Bankss
15
Student Loan Marketing Association9
16 Financing Corporation10
17
Farm Credit Financial Assistance Corporation"
18
Resolution Funding Corporation12
2,121,057
276
6
2^51,039
6
n.a.
26,828
n.a.
25,412
6
n.a.
n.a.
n.a.
2,120,781
623,740
565,071
763,500
76,673
48,350
8,170
1,261
29,996
2,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
24,267
6
n.a.
207
n.a.
n.a.
n.a.
24,261
n.a.
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
n.a.
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
30,811
n.a.
24,267
6
24,261
24,137
6
n.a.
211
n.a.
n.a.
24,131
n.a.
n.a.
23,915
6
23,909
24,083
6
n.a.
139
n.a.
n.a.
24,077
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
8,170
1,261
29,996
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
27,948
28,048
27,408
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
16,961
n.a.
10,987
17,575
n.a.
10,473
17,860
n.a.
9,548
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
MEMO
19 Federal Financing Bank debt13
20
21
22
23
24
39,096
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service6
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association6
Other lending^
25 Farmers Home Administration
26 Rural Electrification Administration
27 Other
n.a.
n.a.
n.a.
n.a.
n.a.
13,876
25,220
n.a.
14,489
22,528
1. Consists of mortgages assumed by the Defense Department between 1957 and 1963
under family housing and homeowners' assistance programs.
2. Includes participation certificates reclassified as debt beginning Oct. 1, 1976.
3. On-budget since Sept. 30, 1976.
4. Consists of debentures issued in payment of Federal Housing Administration insurance
claims. Once issued, these securities may be sold privately on the securities market.
5. Certificates of participation issued before fiscal year 1969 by the Government National
Mortgage Association acting as trustee for the Farmers Home Administration; the Department
of Health, Education, and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
6. Off-budget.
7. Includes outstanding noncontingent liabilities: notes, bonds, and debentures. Includes
Federal Agriculture Mortgage Corporation; therefore, details do not sum to total. Some data
are estimated.
8. Excludes borrowing by the Farm Credit Financial Assistance Corporation, which is
shown on line 17.
9. Before late 1982, the association obtained financing through the Federal Financing Bank
(FFB). Borrowing excludes that obtained from the FFB, which is shown on line 22.
16,127
14,684
10. The Financing Corporation, established in August 1987 to recapitalize the Federal
Savings and Loan Insurance Corporation, undertook its first borrowing in October 1987.
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'
1 All issues, new and refunding1
363,888
384,311
357,425
24,736'
32,821
22,553'
30,958'
44,779
31,439
35,841
44,298
By type of issue
2 General obligation
3 Revenue
145,323
214,788
144,056
238,204
130,256
227,169
7,117
17,619'
12,825
19,995
9,783'
12,770
14,022'
16,936'
19,676
25,103
13,120
18,318
13,599
22,242
16,815
27,483
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township
33,931
259,070
67,121
49,795
253,536
78,962
47,365
233,812
76,248
912
16,749'
7,074
3,733
22,440
6,647
2,223'
16,339'
3,992
1,786
22,525'
6,647'
5,468
31,883
7,427
2,679
20,746
8,013
1,942
25,070
8,828
3,275
32,868
8,155
7 Issues for new capital
242,882
264,697
228,031
14,762'
23,082
11,928'
15,773'
20,700
16,406
18,173
25,978
57,894
22,093
33,404
n.a.
7,227
73,033
70,394
23,809
10,251
n.a.
22,339
97,736
65,347
20,546
9,377
n.a.
18,994
80,498
3,572
1,325
1,272'
n.a.
2,907
2,859
7,544
1,895
1,641
3,917'
1,299
444
n.a.
575
2,817
4,948
1,981
438
n.a.
618
4,272
6,776
2,926
1,248
n.a.
2,475
4,751
5,433
1,266
591
n.a.
2,279
3,855
4,543
1,027
802
n.a.
1,722
6,178
9,233
3,947
745
n.a.
1,444
6,392
8
9
10
11
12
13
By use of proceeds
Education
Transportation
Utilities and conservation
Social welfare
Industrial aid
Other purposes
SOURCE. Securities Data Company beginning January 1990; Investment Dealer's Digest
before then.
1. Par amounts of long-term issues based on date of sale.
2. Includes school districts.
1.46
NEW SECURITY ISSUES
US. Corporations
Millions of dollars
2004
Type of issue, offering,
or issuer
1
1 All issues
By type of offering
3 Sold in the United States
2002
2003
2005
2004
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
1,432,548
1,819,401
2,067,697
158,646
196,768
167,487
183,455
158,779
223,777
144,987
182,464
1,322,113
1,692,260
1,923,094
146,254
188,189
155,071
177,157
146,154
213,440
139,849
176,510
1,235,868
86 246
1,579,311
112 949
1,737,342
185 752
133,354
12 900
166,052
22 137
142,165
12 906
159,207
17 950
125,762
20 392
204,222
9 218
130,985
8 864
169,998
6 512
18,870
20,701
21,942
2,220
1,703
677
830
914
1,673
987
2,209
282,484
1,039,629
362,340
1,329,920
259,968
1,663,127
17,591
128,663
32,724
155,465
21,858
133,213
15,981
161,176
16,837
129,317
17,775
195,665
11,711
128,138
9,496
167,014
170,904
185,964
144,603
12,392
8,579
12,416
6,298
12,625
10,337
5,138
5,954
110,435
60,469
127,141
58,823
144,603
n.a.
12,392
n.a.
8,579
n.a.
12,416
n.a.
6,298
n.a.
12,625
n.a.
10,337
n.a.
5,138
n.a.
5,954
n.a.
62,115
48,320
44,389
82,752
64,162
80,441
4,209
8,183
4,757
3,822
6,676
5,740
2,071
4,227
7,964
4,661
3,129
7,208
2,595
2,543
2,427
3,527
MEMO
5 Private placements, domestic
By industry group
7 Financial
8 Stocks3
By type of offering
9 Public
10 Private placement4
By industry group
11 Nonfinancial
1. Figures represent gross proceeds of issues maturing in more than one year; they are the
principal amount or number of units calculated by multiplying by the offering price. Figures
exclude secondary offerings, employee stock plans, investment companies other than closedend, intracorporate transactions, Yankee bonds, and private placements listed. Stock data
include ownership securities issued by limited partnerships.
2. Monthly data include 144(a) offerings.
3. Monthly data cover only public offerings.
4. Data for private placements are not available at a monthly frequency.
SOURCE. Securities Data Company and the Board of Governors of the Federal Reserve
System.
30
Federal Reserve Bulletin Statistical Supplement • September 2005
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2004
Item
2003
2005
2004'
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
1 Sales of own shares2
1,710,931
1,659,399
162,418
161,730
149,629
165,785
144,492
136,078
134,943
134,584
2 Redemptions of own shares
1,495,077
215,854
1,449,568
209,831
149,425
12,993
141,844
19,886
120,461
29,168
148,026
17,759
132,057
12,435
119,075
17,003
122,673
12,270
115,906
18,678
5,362,397
6,193,664
6,193,664
6,107,862
6,251,261
6,169,231
6,076,485
6,264,465
6,350,829
6,563,380
258,594
5,103,803
304,816
5,888,848
304,816
5,888,848
317,491
5 790 371
354,861
5 896 400
328,885
5 840 346
315,830
5 760 655
318,691
5 945 774
315,528
6 035 301
296,235
6 267 145
4 Assets
4
5 Cash5
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51 DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE. Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2004
2003
2005
Q4
Q1
Q2
Q3
Q4r
Ql r
Q2
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
951.2
321.4
455.3
174.5
1,022.2
365.8
457.4
198.9
1,146.6
431.7
471.9
243.0
1,022.2
365.8
457.4
198.9
1,056.2
374.4
475.6
206.2
1,075.4
390.1
471.3
213.9
1,097.3
416.5
456.3
224.5
1,146.6
431.7
471.9
243.0
1,155.5
428.1
480.3
247.1
1,167.8
426.3
489.2
252.3
57.0
23 8
50.8
24 6
46.3
24 9
50.8
24 6
49.6
24 1
47.3
24 0
46.5
24 1
46.3
24 9
45.9
23 6
45.5
23 5
870.3
586.4
946.8
753.9
1,075.4
764.7
946.8
753.9
982.5
750.4
1,004.1
732.2
1,026.6
746.7
1,075.4
764.7
1,086.0
741.8
1,098.8
761.3
1,456.8
1,700.8
1,840.0
1,700.8
1,732.9
1,736.4
1,773.3
1,840.0
1,827.8
1,860.1
48.0
141.5
56.2
136.3
65.2
163.9
56.2
136.3
59.8
138.6
52.6
141.4
64.1
154.3
65.2
163.9
63.1
149.2
60.1
137.0
88.2
631.9
339.8
207.3
99.9
747.1
424.7
236.6
118.3
828.6
415.5
248.5
99.9
747.1
424.7
236.6
104.9
760.6
435.6
233.4
108.1
769.1
426.6
238.5
112.7
776.7
422.6
242.9
118.3
828.6
415.5
248.5
115.2
859.0
389.7
251.6
117.2
878.8
399.8
267.2
1,456.8
1,700.8
1,840.0
1,700.8
1,732.9
1,736.4
1,773.3
1,840.0
1,827.8
1,860.1
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 Receivables1
Billions of dollars, amounts outstanding
Type of credit
Apr.1
May
Seasonally adjusted
2
3
4
Consumer . . .
Real estate . .
Business
519.8'
210.5'
541.3'
1,323.8'
1,409.4'
543.3'
229.2'
551.4'
572.5'
267.9'
568.9'
1,441.1
1,422.4
572.5'
267.9'
568.9'
570.9
268.9
570.5
574.7
272.2
575.4
579.9
27 8.4
574.2
580.7
278.4
580.7
581.6
277.5
581.9
Not seasonally adjusted
1,330.2
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'" .
1,420.1
1,416.0
1,439.0
523.9
160.2
83.3
38.9
38.7
547.7
197.0
70.0
37.6
60.9
577.2
230.2
62.5
43.3'
94.7
577.2
230.2
62.5
43.3'
94.7
573.9
221.9
62.9
43.6
96.1
573.9
221.4
62.9
45.1
97.2
575.7
220.2
63.7
44.4
98.6
576.7
216.8
64.5
45.5
99.7
576.6
213.0
64.9
46.3
100.7
151.9
5.7
31.1
14.0
210.6
135.0
39.5
132.8
5.5
31.6
12.2
229.4
152.2
46.7
109.9
4.8
22.2
9.5
268.3'
190.2'
52.7
109.9
4.8
22.2
9.5
268.3'
190.2'
52.7
116.5
4.7
18.6
9.6
269.2
191.8
52.3
115.5
4.7
17.8
9.4
271.1
193.7
52.5
117.0
4.6
18.0
9.1
271.6
194.7
52.4
119.5
4.6
17.3
8.9
274.7
198.3
52.1
121.7
4.5
16.5
8.7
275.7
199.2
52.4
33.0
3.2
543.0
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5
26.7
3.8
553.1
74.9
18.2
40.3
16.3
277.6
74.6
203.1
105.0
21.8
3.5
570.5
91.6
18.4
46.2
27.0
264.9
70.6
194.3
115.4
21.8
3.5
570.5
91.6
18.4
46.2
27.0
264.9
70.6
194.3
115.4
21.6
3.5
569.8
94.7
22.3
45.4
26.9
261.9
68.9
193.0
115.6
21.4
3.5
575.2
96.8
26.1
43.8
26.9
260.0
69.9
190.1
116.4
21.1
3.5
580.8
101.0
30.7
42.8
27.5
260.8
69.6
191.2
118.4
20.8
3.5
585.7
103.2
30.7
45.0
27.5
262.9
70.6
192.3
118.4
20.6
3.5
586.7
106.6
30.9
47.8
27.9
265.2
71.3
193.9
119.1
50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.4
48.4
2.2
44.2
2.1
22.1
12.5
9.6
25.1
44.8
2.2
40.6
2.0
23.6
11.5
12.1
30.2
44.8
2.2
40.6
2.0
23.6
11.5
12.1
30.2
44.4
2.2
40.2
2.0
22.9
10.8
12.0
30.2
49.4
2.2
45.2
2.0
22.1
10.1
12.0
30.4
48.8
49.0
2.2
44.8
2.0
22.1
10.5
11.7
30.1
43.9
2.2
39.7
2.0
21.7
10.0
11.7
30.2
NOTE: This table has been revised to incorporate several changes resulting from the
benchmarking of finance company receivables to the June 1996 Survey of Finance Companies. In that benchmark survey, and in the monthly surveys that have followed, more-detailed
breakdowns have been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table. The new information has
resulted in some reclassification of receivables among the three major categories (consumer,
real estate, and business) and in discontinuities in some component series between May and
June 1996.
Includes finance company subsidiaries of bank holding companies but not of retailers and
banks. Data in this table also appear in the Board's G.20 (422) monthly statistical release,
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
44.6
2.0
21.6
9.9
11.7
30.2
before deductions for unearned income and losses. Components may not sum to totals
because of rounding.
2. Excludes revolving credit reported as held by 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 • September 2005
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2005
Item
2002
2003
2004
Jan.
Feb.
Mar.
Apr.
May
June
July
Terms and y elds in primary and secondary markets
PRIMARY MARKETS
1
2
3
4
5
Terms]
Purchase price (thousands of dollars)
Amount of loan (thousands of dollars)
Loan-to-price ratio (percent)
Maturity (years)
Fees and charges (percent of loan amount)2
Yield (percent per year)
6 Contract rate1
8 Contract rate (HUD series)4
261.1
197.0
77.8
28.9
.62
272.1
205.3
77.9
28.7
.61
292.0
215.0
76.0
28.8
.51
303.0
223.1
76.3
29.2
.48
317.1
232.2
75.5
28.9
.48
315.2
231.1
75.6
28.9
.47
307.0
223.8
75.3
29.1
.50
320.8
235.6
75.5
29.1
.51
329.9
238.6
74.4
29.2
.52
330.7
240.4
75.1
29.2
.48
6.35
6.44
n.a.
5.71
5.80
n.a.
5.68
5.75
n.a.
5.95
6.01
n.a.
5.68
5.75
n.a.
5.75
5.82
n.a.
5.77
5.84
n.a.
5.75
5.82
n.a.
5.69
5.76
n.a.
5.69
5.76
n.a.
n.a.
5.81
n.a.
5.03
n.a.
5.19
n.a.
4.91
n.a.
4.89
n.a.
5.27
n.a.
5.12
n.a.
4.97
n.a.
4.81
n.a.
5.03
SECONDARY MARKETS
Yield (percent per year)
10 GNMA securities6
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
794,253
n.a.
n.a.
898,445
n.a.
n.a.
904,555
n.a.
n.a.
890,834
n.a.
n.a.
875,245
n.a.
n.a.
864,648
n.a.
n.a.
851,936
n.a.
n.a.
828,079
n.a.
n.a.
808,225
n.a.
n.a.
788,786
n.a.
n.a.
14 Mortgage transactions purchased (during period)
370,641
572,852
262,646
11,095
9,446
11,206
8,865
11,198
8,964
9,365
Mortgage commitments (during period)
15 Issued7
16 To sells
400,327
12 268
522,083
33 010
149,429
8 828
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
568,173
4,573
563,600
644,436
n.a.
n.a.
652,936
n.a.
n.a.
646,925
n.a.
n.a.
654,182
n.a.
n.a.
656,720
n.a.
n.a.
662,063
n.a.
n.a.
668,137
n.a.
n.a.
665,003
n.a.
n.a.
660,035
n.a.
n.a.
21 Sales
n.a.
547,046
n.a.
713,260
n.a.
365,148
n.a.
26,135
n.a.
25,081
n.a.
25,912
n.a.
32,043
n.a.
33,654
n.a.
29,917
n.a.
28,633
22 Mortgage commitments contracted (during period)9
620,981
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
13
Conventional
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end ofperiod)*
17 Total
18 FHA/VA insured
19
Conventional
Mortgage transactions (during period)
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing
Finance Board in cooperation with the Federal Deposit Insurance Corporation.
2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the
seller) to obtain a loan.
3. Average effective interest rate on loans closed for purchase of newly built homes,
assuming prepayment at the end of ten years.
4. Average contract rate on new commitments for conventional first mortgages; from U.S.
Department of Housing and Urban Development (HUD). Based on transactions on the first
day of the subsequent month.
5. Average gross yield on thirty-year, minimum-downpayment first mortgages insured by
the Federal Housing Administration (FHA) for immediate delivery in the private secondary
market. Based on transactions on first day of subsequent month.
6. Average net yields to investors on fully modified pass-through securities backed by
mortgages and guaranteed by the Government National Mortgage Association (GNMA),
assuming prepayment in twelve years on pools of thirty-year mortgages insured by the
Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
7. Does not include standby commitments issued but includes standby commitments
converted.
8. Includes participation loans as well as whole loans.
9. Includes conventional and government-underwritten loans. The Federal Home Loan
Mortgage Corporation's mortgage commitments and mortgage transactions include activity
under mortgage securities swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
Real Estate
1.54
33
MORTGAGE DEBT OUTSTANDING1
Millions of dollars, end of period
Type of holder and property
Q2
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-family6
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
Q3
Q4
Q1
10,528,910'
10,782,720'
Q2>
7,481,468'
8,316,890'
5,631,763'
447,824'
1,284,035'
117,846'
6,317,394'
486,722'
1,387,267'
125,507'
7,120,155'
557,262'
1,520,260'
133,583'
7,551,748'
582,074'
1,590,441'
138,320'
7,855,714'
594,057'
1,640,386'
140,528'
8,079,958'
608,519'
1,698,721'
141,708'
8,277,652'
617,017'
1,745,092'
142,960'
8,528,408
630,419
1,804,046
146,203
2,791,076
1,789,819
1,023,851
84,851
645,619
35,498
758,236
620,579
64,592
72,534
531
243,021
4,931
35,631
188,376
14,083
3,089,824
2,058,426
1,222,126
94,178
704,097
38,025
781,378
631,392
68,679
80,730
577
250,019
4,657
36,816
195,040
13,506
3,387,865
2,256,037
1,346,908
104,901
763,579
40,649
870,884
703,374
77,994
88,884
632
260,944
4,403
38,556
203,946
14,039
3,666,583'
2,435,903
1,473,532
110,832
808,610
42,928
966,533
789,486
83,952
92,455
639
264,148'
4,603
38,933
206,433'
14,179
3,794,619'
2,517,411
1,522,198
114,986
836,332
43,894
1,009,323
830,379
85,808
92,508
628
267,885'
4,653
39,464
209,489'
14,279
3,927,099'
2,595,318
1,568,000
119,294
863,467
44,557
1,058,457
875,864
87,526
94,467
598
273,324'
4,998'
40,453'
214,085'
13,788'
4,033,528'
2,689,241'
1,633,240'
122,807'
888,164'
45,030'
1,069,595'
884,854'
90,382'
93,763'
597
274,692'
5,024'
40,655'
215,154'
13,859'
4,182,608
2,790,226
1,696,007
129,012
918,987
46,220
1,114,589
923,251
95,093
95,641
604
277,793
5,082
41,114
217,578
14,019
373,240
8
433,565
5
5
0
72,377
14,908
11,669
42,101
3,700
3,854
1,262
2,592
0
0
0
0
0
46
7
9
30
0
185,801
172,230
13,571
46,257
2,722
43,535
63,887
35,851
28,036
966
966
537,131
50
50
0
69,546
13,964
11,613
40,529
3,439
4,192
1,304
2,887
0
0
0
0
0
548,489'
45
45
0
69,935
13,557
11,565
41,520
3,294
4,498
1,328
3,169
0
0
0
0
0
23
4
4
15
0
245,883'
221,267'
24,616'
51,849
3,051
48,798
60,808
23,403'
37,405'
900
900
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
554,442'
42
42
0
70,690
13,338
11,537
42,559
3,255
4,733
1,338
3,394
0
0
0
0
0
11
552,927
39
39
0
70,995
13,274
11,527
42,957
3,237
4,733
1,338
3,394
0
0
0
0
0
9
2
15
0
239,433
219,867
19,566
49,307
2,901
46,406
60,270
27,274
32,996
990
990
543,492
45
45
0
69,681
13,668
11,581
41,172
3,260
4,550
1,324
3,226
0
0
0
0
0
42
7
8
27
0
241,510
218,845
22,665
51,070
3,005
48,065
59,817
24,147'
35,670'
944
944
2
7
0
249,515'
222,535'
26,980'
52,793
3,106
49,687
61,360
23,389'
37,971'
887
887
2
7
0
249,397'
222,417'
26,980'
53,341
3,139
50,202
61,736
23,532'
38,204'
865
865
6
0
249,230
222,250
26,980
54,769
3,223
51,546
60,986
23,246
37,740
838
838
0
0
0
773,405
494,658
53,759
224,988
0
1,656
1,656
4,029,159'
537,888
512,098
25,790
1,082,062
1,072,990
9,072
1,538,287
1,478,610
59,677
0
0
0
0
0
870,555'
560,519'
59,225
250,811
0
367
367
4,549,742'
473,738
444,820
28,918
1,157,339
1,141,241
16,098
1,857,045
1,780,884
76,161
0
0
0
0
0
1,060,617'
698,869'
67,288
294,460
0
1,003
1,003
4,745,848'
458,524
427,943
30,581
1,184,976
1,168,494
16,482
1,879,009
1,803,584
75,425
0
0
0
0
0
1,222,372'
833,886'
70,688
317,798
0
967
967
4,924,405'
452,555
421,364
31,191
1,197,412
1,180,757
16,655
1,892,680
1,816,973
75,707
0
0
0
0
0
1,380,794'
979,727'
71,953
329,114
0
964
964
5,041,932'
441,250'
409,103'
32,147
1,204,239'
1,187,489'
16,750'
1,895,761
1,819,931
75,830
0
0
0
0
0
1,499,745'
1,076,398'
75,170
348,177
0
938
938
5,171,334'
431,626'
399,052'
32,574
1,218,978
1,202,023
16,955
1,896,003
1,820,163
75,840
0
0
0
0
0
1,623,845'
1,179,834'
77,410
366,601
0
882
882
5,324,744
421,223
388,365
32,858
1,245,930
1,228,600
17,330
1,900,149
1,824,143
76,006
0
0
0
0
0
1,756,567
1,289,307
81,555
385,705
0
875
875
711,963'
496,514'
80,459'
111,545'
23,445'
764,342'
547,722'
77,330'
114,459'
24,830'
856,522'
621,022'
80,227'
128,848'
26,424'
906,660'
673,389'
81,987'
123,945'
27,338'
963,171'
722,476'
81,517'
131,408'
27,770'
1,006,054'
760,459'
81,429'
136,148'
28,018'
1,023,416'
776,042'
80,260'
138,844'
28,270'
1,048,797
798,968
77,794
143,172
28,863
72,452
15,824
11,712
40,965
3,952
3,290
1,260
2,031
0
0
0
13
2
3
8
0
165,957
155,419
10,538
40,885
2,406
38,479
62,792
40,309
22,483
202
202
3,605,189
591,368
569,460
21,908
948,409
940,933
7,476
1,290,351
1,238,125
52,226
0
1. Multifamily debt refers to loans on structures of five or more units.
2. Includes loans held by nondeposit trust companies but not loans held by bank trust
departments.
3. Includes savings banks and savings and loan associations.
4. FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from
FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting
changes by the Farmers Home Administration.
5. Outstanding principal balances of mortgage-backed securities insured or guaranteed by
the agency indicated.
6. Includes securitized home equity loans.
7. Other holders include mortgage companies, real estate investment trusts, state and local
credit agencies, state and local retirement funds, noninsured pension funds, credit unions, and
finance companies.
SOURCE. Based on data from various institutional and government sources. Separation of
nonfarm mortgage debt by type of property, if not reported directly, and interpolations and
extrapolations, when required for some quarters, are estimated in part by the Federal Reserve.
Line 70 from LoanPerformance Corporation and other sources.
34
Federal Reserve Bulletin Statistical Supplement • September 2005
CONSUMER CREDIT1
1.55
Millions of dollars, amounts outstanding, end of period
2004
Holder and type of credit
2002
2003
2005
2004
Dec.
Jan.'
Feb.'
Mar.'
Apr.'
May
Seasonally adjusted
1 Total
1,925,544.0'
2,015,336.0'
2,110,064.0'
2,110,064.0'
2,118,051.0
2,125,662.0
2,131,908.0
2,137,760.0
2,137,583.0
2 Revolving
736.357.0'
1,189,187.0'
758,278.0'
1,257,058.0'
793,515.0'
1,316,550.0'
793.515.0'
1,316,550.0'
797,578.0
1,320,473.0
797.253.0
1,328,409.0
796.835.0
1,335,073.0
797,454.0
1,340,306.0
798,830.0
1,338,754.0
Not seasonally adjusted
4 Total
By major holder
5 Commercial banks
6 Finance companies
8 Federal government and Sallie Mae
10 Nonfinancial business
11 Pools of securitized assets3
By major type of credit*
12 Revolving
13
Commercial banks
14 Finance companies
16
Federal government and Sallie Mae
18
19
Nonfinancial business
Pools of securitized assets3
21
22
Commercial banks
Finance companies
24
25
26
27
Federal government and Sallie Mae
Savings institutions
Nonfinancial business
Pools of securitized assets3
1,952,788.0'
2,043,170.0'
2,139,883.0'
2,139,883.0'
2,140,233.0
2,127,874.0
2,121,881.0
2,125,198.0
2,125,867.0
606,372.0
237,790.0
195,744.0
129,575.8
68,705.0
77,520.0'
637,082.0
675,038.0
295.424.0
205,877.0
114,657.5
77,850.0
63,348.0'
610,976.0
711,386.0
368.164.0
215,384.0
98,362.9
91,281.0
64,799.0'
590,507.0
711,386.0
368.164.0
215,384.0
98,362.9
91,281.0
64,799.0'
590,507.0
700,692.0
361,527.0
214,838.0
100,839.5
91,102.0
62,846.0
608,388.0
696,695.0
363.686.0
214,114.0
100,867.6
90,941.0
61.595.0
599,976.0
690,478.0
363.289.0
214,967.0
100,647.2
90,762.0
61,007.0
600,730.0
693,036.0
361.989.0
217,010.0
99,039.4
91,830.0
61,056.0
601,238.0
690,293.0
360.107.0
218,906.0
98,795.1
92,933.0
61,022.0
603,810.0
757,744.0'
250,197.0
38,948.0
22,228.0
n.a.
16,260.0
39,848.0'
390,263.0
780,539.0'
290,667.0
37,576.0
22,410.0
n.a.
23,848.0
19,363.0'
386,675.0
817,792.0'
321,765.0
43,314.0
23,244.0
n.a.
27,905.0
17,899.0'
383,665.0
817,792.0'
321,765.0
43,314.0
23,244.0
n.a.
27,905.0
17,899.0'
383,665.0
808,077.0
306,301.0
43,554.0
22,909.0
n.a.
27,659.0
17,633.0
390,020.0
797,528.0
301,907.0
45,079.0
22,629.0
n.a.
27,438.0
17,372.0
383,103.0
789,766.0
295,233.0
44,447.0
22,486.0
n.a.
27,192.0
17,184.0
383,223.0
793,425.0
298,478.0
45,489.0
22,667.0
n.a.
27,538.0
17,262.0
381,990.0
794,383.0
297,550.0
46,332.0
22,921.0
n.a.
27,896.0
17,252.0
382,432.0
1 195 045 0
356,175.0
198.842.0
173,516.0
129,576.0
52,445.0
37,673.0
246,819.0
1 262 632 0
384,371.0
257.847.0
183,467.0
114,658.0
54,002.0
43,986.0
224,301.0
1 322 092 0
389,621.0
324.849.0
192,140.0
98,363.0
63,376.0
46,900.0
206,842.0
1 322 092 0
389,621.0
324.849.0
192,140.0
98,363.0
63,376.0
46,900.0
206,842.0
1 332 156 0
394,391.0
317.974.0
191,929.0
100,839.0
63,443.0
45,213.0
218,368.0
1 330 346 0
394,789.0
318.607.0
191,485.0
100,868.0
63,503.0
44,223.0
216,872.0
1 332 115 0
395,245.0
318.842.0
192,481.0
100,647.0
63,570.0
43,823.0
217,507.0
1,331,773.0
394,558.0
316,500.0
194,343.0
99,039.0
64,292.0
43,794.0
219,247.0
1,331,484.0
392,744.0
313,775.0
195,985.0
98,795.0
65,037.0
43,771.0
221,378.0
1. The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals, excluding loans secured by real estate. Data in this table also appear
in the Board's G.19 (421) monthly statistical release, available at www.federalreserve.gov/
releases.
2. Comprises motor vehicle loans, mobile home loans, and all other loans that are not
included in revolving credit, such as loans for education, boats, trailers, or vacations. These
loans may be secured or unsecured.
1.56
3. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
4. Totals include estimates for certain holders for which only consumer credit totals are
available.
TERMS OF CONSUMER CREDIT1
Percent per year except as noted
2005
2004
Item
2002
2003
2004
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
INTEREST RATES
Commercial banks2
1 48-month new car
2 24-month personal
7.62
12.54
6.93
11.95
6.60
11.89
6.71
11.84
n.a.
n.a.
n.a.
n.a.
6.86
12.01
n.a.
n.a.
n.a.
n.a.
6.93
12.03
Credit card plan
3 All accounts
4 Accounts assessed interest
13.40
13.11
12.30
12.73
12.71
13.21
12.50
13.92
n.a.
n.a.
n.a.
n.a.
12.21
14.13
n.a.
n.a.
n.a.
n.a.
12.76
14.81
4.29
10 74
3.40
9 72
4.36
8 96
5.64
8 82
4.97
8 86
5.56
8 95
4.68
9 36
4.35
9 38
4.76
9 41
5.25
9 34
56.8
57 5
61.4
57 5
60.5
56 8
60.5
56 8
60.2
56 7
59.3
57 6
59.1
57 9
59.7
57 9
59.5
57 9
59.2
57 5
94
100
95
100
89
100
83
98
85
99
83
98
89
98
88
99
87
99
88
98
24,747
14,532
26,295
14,613
24,888
15,136
23,984
15,632
24,434
15,964
23,939
15,673
24,290
15,453
24,118
15,395
23,725
15,750
22,989
16,011
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'
Ql'
Q2'
Q3'
Q4'
Ql'
Q2
Nonfinancial sectors
834.3r
1 Total net borrowing by domestic nonfinancial sectors
By sector and instrument
2 Federal government
3
Treasury securities
4
Budget agency securities and mortgages
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
23 Foreign net borrowing in United States
24
Commercial paper
25
Bonds
26
Bank loans n.e.c
27
Other loans and advances
1,332.4'
1,673.7'
1,407.3
2,064.5
1,631.1
1,973.2
1,944.3
2,384.8
-295.9
-294.9
-1.0
-5.6
-5.1
-.5
257.6
257.1
.5
396.0
398.4
-2.4
376.1
384.7
-8.6
502.9
501.9
1.1
367.2
370.8
-3.6
266.3
266.5
-.2
311.2
310.9
.3
630.7
631.5
-.7
1,130.2'
1,113.4'
1,074.8'
1,277.7'
1,031.3
1,561.6
1,263.9
1,706.8
1,633.1
1,754.0
48.1
23.6
162.6
97.7
79.6
550.2'
408.0'
26.8'
108.8'
6.5'
168.4'
-88.3
122.9
347.7'
-82.0
8.9
671.6'
509.4'
40.6'
113.8'
7.7
132.7'
-64.2
159.4
132.3
-87.4
20.3
827.1'
685.6'
37.2'
96.5'
7.7'
87.4'
-40.0
135.1
158.3
-82.0
10.0
1,006.0'
802.8'
69.9'
125.1'
8.1
90.4'
-74.3
118.8
70.6
-70.7
52.8
883.3
658.2
93.4
123.1
8.6
50.8
33.8
174.0
114.2
-38.6
14.3
1,172.7
989.4
23.7
152.6
7.1
91.0
32.3
70.2
6.7
83.6
-15.2
1,022.8
832.4
67.5
112.5
10.4
63.5
22.4
156.9
51.7
-32.9
39.8
1,345.0
1,104.0
42.3
189.6
9.1
123.9
-25.4
118.3
138.3
116.5
87.7
1,089.2
853.7
55.4
174.2
5.9
108.5
53.7
224.7
34.3
92.0
116.8
1,145.1
925.7
30.3
183.9
5.1
87.4
9.2
123.3
28.1
235.5
82.2
1,247.9
971.2
58.9
206.4
11.4
80.9
194.3
5.3
38.5
557.8'
556.9'
348.9'
197.1
10.9
15.5
613.8'
393.8'
220.6'
162.7
10.5
105.8
746.2'
184.8'
28.4'
148.5
7.9'
143.9
848.8'
311.1'
147.3'
156.1
7.7
117.8
652.8
271.3
77.2
184.3
9.8
107.2
1,059.5
346.1
202.4
137.5
6.2
156.0
931.7
281.1
98.9
169.0
13.1
51.1
1,091.7
470.2
264.1
187.8
18.3
144.9
945.3
579.3
393.7
177.1
8.5
108.6
985.2
567.0
370.5
193.5
3.1
201.8
1,037.8
672.0
360.6
294.4
16.9
97.4
19XT
16.3
7.9r
.5
-5.7
63.0'
31.7
21.2'
11.4
-1.3
-43.8'
-14.2
-18.5'
-7.3
-3.8
70.8'
36.1
31.6'
5.3
-2.3
54.3'
22.3
41.9'
-7.7
-2.1
105.9
20.2
86.3
-.7
.1
84.2
99.6
-4.3
-6.7
-4.3
-63.6
-30.1
-40.1
7.0
-.4
97.5
24.4
86.8
-9.0
-4.8
210.7
160.7
34.4
18.5
-2.9
17.7
13.7
-4.6
12.1
-3.5
87.6
33.6
60.7
-5.2
-1.6
897.3'
1,064.1'
1,403.2'
1,728.0'
1,513.2
2,148.7
1,567.5
2,070.6
2,155.0
2,402.4
-71.2
-71.0
-.2
5 Nonfederal
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
1,107.8'
37.4
54.4
221.7
81.4
26.1
568.4 r
424.9r
39. V
97.9
6.5
114.l r
494.6r
570.3 r
370.6 r
28 Total domestic plus foreign
5.8
7.2
-1.4
Financial sectors
29 Total net borrowing by financial sectors . ..
1,020.6
788.6
890.5
835.5'
By instrument
Federal government-related
Government-sponsored enterprise securities
Mortgage pool securities
Loans from U.S. government
593.3
318.8
274.6
.0
434.9
235.2
199.7
.0
642.7
304.1
338.5
.0
427.3
176.2
149.9
-12.8
107.1
6.9
353.7
131.7
170.9
3.8
42.5
4.9
67.2
48.0
2.2
.7
318.8
274.6
153.8
70.7
.0
10.4
-17.2
91.6
60.0
27.3
.0
-.7
235.2
199.7
165.5
81.9
.0
4.5
15.6
-.3
30
31
32
33
34 Private
35
Open market paper
36
Corporate bonds
37
Bank loans n.e.c
38
Other loans and advances
39
Mortgages
40
41
42
43
44
45
46
47
48
49
50
51
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
Issuers of asset-backed securities (ABSs) . . . .
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
1,029.0
1,096.6
732.8
859.4
763.5
771.1
648.8
546.7
219.8
326.8
.0
574.3
243.7
330.5
.0
513.2
96.9
416.3
.0
127.2
.6
126.7
.0
299.9
211.9
88.0
.0
155.3
93.1
62.1
.0
-110.0
-45.5
-64.6
.0
-143.2
-209.6
66.3
.0
37.9
-84.2
122.1
.0
247.8
-45.3
252.5
13.0
25.5
2.2
288.8'
-63.5
335.8'
1.5
6.8
8.2
454.7
-63.8
483.8
-4.8
31.2
8.3
583.4
-110.6
632.9
.1
42.0
19.1
605.5
129.6
352.9
17.5
79.1
26.5
559.5
-2.5
423.7
-25.8
148.1
15.9
608.3
-31.4
590.6
44.2
-15.7
20.6
881.1
41.1
701.6
13.6
85.1
39.6
792.1
122.1
611.9
5.9
27.0
25.2
1,086.9
473.2
501.1
-23.6
114.5
21.7
52.9
-2.0
1.5
.6
304.1
338.5
243.5
1.3
.0
3.2
1.4
-54.6
49.7
-23.4
2.0
2.0
219.8
326.8
194.0'
42.2
.0
24.5
-1.7
-.5
49.2
6.1
2.2
2.9
243.7
330.5
239.3
118.2
.0
31.9
6.4
-1.4
89.3
20.8
1.0
2.5
96.9
416.3
200.5
166.9
.0
56.3
-6.6
52.7
182.7
1.1
-2.7
-.4
.6
126.7
169.0
111.2
.0
67.1
51.9
25.6
6.8
166.6
4.9
2.7
211.9
88.0
308.8
-8.4
.0
43.6
2.5
32.1
60.1
-7.0
.9
.1
93.1
62.1
392.5
115.6
.0
102.5
33.2
-89.6
61.2
96.9
6.1
9.7
-45.5
-64.6
365.1
254.6
.0
157.8
-26.6
-43.6
163.0
-30.5
1.5
-1.6
-209.6
66.3
481.2
88.4
.0
61.3
11.2
17.6
41.5
82.4
3.1
-84.2
122.1
507.6
-7.2
.0
84.3
-5.2
378.2
36
Federal Reserve Bulletin Statistical Supplement • September 2005
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS '—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
2003
Transaction category or sector
1999
2000
2001
2002
2004
2005
2003
Q4'
Ql'
Q2'
Q3'
Q4'
Ql'
Q2
2,426.9
2,834.2
2,926.0
3,051.2
3,025.4
667.1
70.2
390.2
64.9
132.5
1,038.7
63.5
15.4
421.6
156.9
729.1
2.4
19.3
1,365.6
123.9
176.4
201.1
118.3
874.4
148.6
169.9
1,128.8
108.5
189.4
487.5
224.7
641.7
110.0
140.3
1,170.3
87.4
516.0
43.7
123.3
590.0
206.8
195.0
1,269.6
80.9
All sectors
52 Total net borrowing, all sectors
53
54
55
56
57
58
59
60
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
2,071.8'
1,685.9'
1,954.6'
2,238.6'
2,757.0'
2,609.9
2,881.5
229.9
522.1
54.4
379.5'
69.0
127.5
575.3'
114.1'
211.6
139.0
23.6
354.7'
112.8
120.8
555.0'
168.4'
-147.8
637.1
122.9
581.7'
-76.2
30.6
673.8'
132.7'
-91.5
804.2
159.4
499.7'
-80.6
24.7
835.3'
87.4'
-81.6
970.3
135.1
683.9'
-94.5
39.1
1,014.3'
90.4'
-164.8
889.3
118.8
789.9
-71.3
94.9
902.3
50.8
263.0
630.2
174.0
462.8
-27.8
89.1
1,199.2
91.0
Funds raised thro igh mutual funds and corporate equities
61 Total net issues
62 Corporate equities
63
Nonfinancial corporations
64 Foreign shares purchased by U.S. residents
65 Financial corporations
66 Mutual fund shares
192.7
244.7
299.5'
228.8'
407.1'
436.4
553.9
214.9
301.3
264.3
404.1
88.4
1.5
-110.4
114.3
-2.4
191.2
5.3
-118.2
106.7
16.8
239.4
98.3'
-48.1'
109.1
37.3
201.2
46.3'
-41.6
17.0'
71.0
182.4
119.1'
-57.8
114.2'
62.7
288.0
106.2
-69.0
108.0
67.3
330.1
89.8
-82.2
66.5
105.5
464.1
99.3
-159.5
160.9
97.9
115.6
-7.9
-203.2
67.0
128.4
309.2
-43.3
-183.2
38.5
101.4
307.6
3.9
-226.0
159.3
70.6
400.2
-140.6
-294.4
83.3
70.6
228.9
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.2
through F4, available at www.federalreserve.gov/releases.
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q4'
Q1 P
Q2 P
Q3 P
Q4 r
Ql'
Q2
N E T L E N D I N G IN C R E D I T M A R K E T S 2
1 Total net lending in credit markets
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
29
30
31
32
Domestic nonfederal nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Life insurance companies
Other insurance companies
Private pension funds
State and local government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
Asset-backed securities issuers (ABSs)
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
2,071.8
1,685.9
1,954.6
2,238.6
2,757.0
2,609.9
2,881.5
2,426.9
2,834.2
2,926.0
3,051.2
3,025.4
125.7
45.0
-21.7
-2.4
104.8
6.4
171.2
1,768.5
25.7
312.2
318.6
-17.0
6.2
4.4
67.2
27.5
53.5
-3.0
99.3
45.5
184.9
48.4
9.6
287.3
274.6
174.5
97.1
.0
-1.2
-34.7
97.3
23.1
-75.2
26.1
.0
72.1
11.6
241.9
1,409.2
33.7
357.9
339.5
23.9
-12.2
6.7
56.2
28.0
57.9
-8.7
-96.4
36.3
138.3
20.9
-5.6
246.0
199.7
152.5
108.6
.0
-4.4
68.9
17.3
-66.6
-162.2
-4.3
6.4
93.4
6.0
305.3
1,709.9
39.9
205.2
191.6
-.6
4.2
10.0
44.6
41.5
130.9
9.0
13.3
-53.8
267.3
126.1
3.2
304.7
338.5
230.1
-4.8
.0
8.7
92.4
-96.6
105.6
-6.5
26.0
-.4
86.5
9.6
422.7
1,700.7
77.7
404.4
393.8
6.2
3.1
1.3
33.6
42.7
233.0
39.9
25.7
-50.7
-17.7
144.2
8.6
224.1
326.8
202.0
21.2
.0
25.4
28.4
-85.1
314.0
259.0
-.8
3.2
52.5
-2.5
531.6
1,914.0
37.2
299.5
323.3
-43.0
8.6
10.6
126.3
50.7
180.6
67.0
14.2
-33.4
-95.9
137.7
36.2
236.5
330.5
245.9
84.2
.0
23.5
79.6
86.5
333.7
356.3
-103.6
3.9
77.1
-4.3
644.6
1,635.8
32.9
221.0
300.6
-88.0
.2
8.1
152.6
-4.8
102.0
93.3
47.4
11.0
-223.4
90.8
16.1
32.8
416.3
219.4
106.5
.0
38.0
320.0
-33.2
-134.7
-255.5
23.5
3.1
94.2
4.7
814.0
2,197.5
22.1
863.9
828.1
22.7
1.2
11.9
202.2
47.0
216.7
105.3
44.7
21.3
-212.1
231.7
9.9
18.8
126.7
181.6
172.1
.0
94.3
-190.0
235.3
157.5
85.7
42.6
3.0
26.2
-11.9
793.6
1,487.7
53.5
486.6
495.7
-25.3
-2.3
18.5
168.4
58.8
162.2
65.1
22.9
-22.7
-151.8
8.1
21.7
168.0
88.0
326.1
64.9
.0
27.9
-118.8
48.4
487.7
468.5
-37.4
2.5
54.0
24.6
593.0
1,728.9
71.3
263.5
252.7
-2.7
3.0
10.5
162.9
18.9
158.2
73.5
44.9
-64.8
-155.6
103.4
.3
104.3
62.1
400.1
90.7
.0
64.4
302.8
14.9
348.6
219.5
61.7
1.5
65.9
-1.9
817.0
1,762.3
57.6
714.7
615.5
86.5
-2.0
14.8
272.3
43.3
154.9
50.6
27.0
-8.5
19.6
125.2
12.7
-106.0
-64.6
329.8
197.0
.0
78.0
-110.7
-34.9
66.0
-74.8
9.0
1.2
130.5
-.7
788.1
2,197.8
-10.5
1,008.7
792.5
213.6
-9.4
12.0
1.4
42.4
205.1
88.9
7.5
-.6
-198.5
206.9
6.4
-65.5
66.3
471.9
53.6
.0
23.0
67.3
203.5
-69.4
-212.0
39.3
.3
102.9
-13.5
750.1
2,358.2
32.0
605.6
429.2
132.8
29.4
14.2
247.1
37.2
63.0
49.2
46.5
36.9
-78.5
117.5
1.7
-66.5
122.1
488.2
16.1
.0
49.6
316.0
259.8
2,071.8
1,685.9
1,954.6
2,238.6
2,757.0
2,609.9
2,881.5
2,426.9
2,834.2
2,926.0
3,051.2
3,025.4
-8.7
-3.0
1.0
48.9
18.1
151.2
45.1
131.1
251.7
169.0
1.5
191.2
262.5
104.4
50.8
113.5
22.9
-88.3
1,179.7
-.4
-4.0
2.4
126.9
12.0
-71.4
188.8
116.2
232.5
114.5
5.3
239.4
402.3
146.1
50.2
189.8
25.9
-53.8
1,376.7
4.3
.0
1.3
6.8
-28.0
204.3
267.2
68.6
428.5
23.7
98.3
201.2
-80.4
3.1
77.2
213.2
14.5
-24.5
681.6
3.2
.0
1.0
21.0
17.4
43.5
270.9
50.1
-16.7
106.6
46.3
182.4
70.8
-87.0
60.1
181.4
22.2
-81.7
477.1
-.9
.0
.6
22.3
-4.0
133.8
229.4
62.0
-207.5
227.2
119.1
288.0
102.4
132.5
66.8
191.9
8.8
-76.0
511.6
-9.3
.0
.0
92.0
70.8
230.8
135.8
88.9
-387.8
490.5
106.2
330.1
115.0
-272.2
110.1
169.7
-11.6
-108.3
-246.1
152.4
-230.0
180.6
196.5
279.1
-132.4
259.9
89.8
464.1
305.0
285.2
25.5
254.1
37.9
-46.5
1,738.8
-4.8
.0
1.2
16.2
96.2
115.1
403.1
178.3
-85.9
-278.2
99.3
115.6
170.2
177.1
34.7
163.7
23.1
-14.6
921.0
.7
79.8
-183.6
77.6
183.0
207.5
-157.9
396.8
-7.9
309.2
217.5
-10.2
37.9
213.5
22.0
-82.7
1,285.5
196.6
10.7
224.1
215.0
323.0
-169.9
-47.4
-43.3
307.6
248.2
214.3
34.4
208.2
15.8
-57.4
1,241.9
371.2
348.6
110.9
72.4
259.6
-71.4
597.9
3.9
400.2
186.9
9.8
56.0
232.5
36.7
-24.9
666.9
.0
1.1
49.8
-26.1
4.3
225.9
237.5
60.7
425.7
-140.6
228.9
237.1
73.2
54.6
224.6
3.5
-83.2
1,338.2
4,714.4
4,785.3
3,607.4
4,564.9
3,514.6
6,739.5
4,558.1
5,420.7
5,844.8
6,294.9
5,943.5
-.7
31.8
36.3
10.8
-242.2
-1.2
64.1
17.3
133.9
32.6
-379.2
-7.5
17.2
-65.2
21.4
-294.2
-.6
7.9
7.2
40.1
19.7
-43.5
-.3
49.6
-4.4
-25.9
-31.5
-65.6
-.7
108.9
-34.2
253.2
-42.7
-918.8
-.4
92.4
.7
-139.1
1.6
424.1
.0
-53.1
70.4
-285.0
12.5
550.9
-.3
124.9
-33.4
84.7
21.4
-92.9
-.5
82.3
22.2
-162.3
15.7
357.8
.4
339.6
10.1
612.4
-54.8
-462.3
-55.2
-10.7
170.1
-.6
178.9
-7.4
-.8
23.6
9.0
-.3
23.5
5.7
-.5
10.9
-1.6
-.7
149.9
-8.9
.0
38.7
2.7
.4
-3.0
70.3
2.2
38.6
-15.3
2.6
-41.8
23.9
2.9
46.2
-18.3
5.0
-56.0
-35.5
5.4
-25.9
4,427.6
3,428.8
4,613.2
4,148.9
6,249.1
4,316.9
5,243.2
5,918.9
5,716.2
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
33 Net flows through credit markets
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
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
53 Total financial sources .
54
55
56
57
58
59
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements . . . .
Taxes payable
Miscellaneous
Floats not included in assets (-)
60 Federal government checkable deposits
61 Other checkable deposits
62 Trade credit
63 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.
2. Excludes corporate equities and mutual fund shares.
5,433.8
38
1.59
Federal Reserve Bulletin Statistical Supplement • September 2005
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
Transaction category or sector
Q4
Q1
Q2
Q3
Q4'
Ql'
Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonflnancial sectors
By sector and instrument
2 Federal government
3
Treasury securities
4
Budget agency securities and mortgages
5 Nonfederal
18,098.8'
19,207.2'
20,539.7'
22,245.8'
22,245.8'
22,685.7'
23,073.1'
23,600.1'
24,163.8
24,674.6
25,115.1
3.385.1
3,357.8
27.3
3.379.5
3,352.7
26.8
3.637.0
3,609.8
27.3
4.033.1
4,008.2
24.9
4.033.1
4,008.2
24.9
4.168.9
4,143.8
25.1
4.209.6
4,185.4
24.2
4.292.9
4,268.7
24.2
4.395.0
4,370.7
24.3
4.559.7
4,535.6
24.1
4.516.8
4,493.1
23.7
14.713.8'
18.863.5'
18.212.7'
16.902.6'
20.598.2
19.768.9
6
7
8
9
10
11
12
13
14
15
16
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
278.4
1.480.9
2,230.3
1,335.0
932.1
6.724.4'
5,122.3'
388.2'
1.103.7'
110.2
1.732.7'
190.1
1.603.7
2,578.0'
1,253.6
941.0
7.395.9'
5,631.8'
428.8
1.217.5'
117.8
1.865.4'
126.0
1.763.1
2,710.3'
1,166.2
961.3
8.223.0'
6,317.4'
466.0'
1,314.1'
125.5
1.952.8'
85.9
1.898.2
2,868.6'
1,116.6
971.3
9.229.0'
7,120.2'
536.0'
1.439.2'
133.6
2.043.2'
85.9
1.898.2
2,868.6'
1,116.6
971.3
9.229.0'
7,120.2'
536.0'
1.439.2'
133.6
2.043.2'
95.5
1.940.4
2,897.1'
1,101.4
969.5
9.484.8'
7,335.2'
541.9'
1.472.3'
135.3
2.028.0'
102.5
1.974.0'
2,898.8'
1,121.6
976.8
9.750.0'
7,551.8'
558.8'
1.501.1'
138.3
2.039.8'
109.3
1.993.6
2,911.7'
1,114.1
981.0
10,112.9'
7,855.7'
569.3'
1.547.3'
140.5
2.084.6'
101.7
2.028.0
2,946.3
1,148.8
1,003.0
10,401.2
8,079.9
583.2
1.596.4
141.7
2.139.9
115.6
2.082.6
2,954.9
1,166.3
1,025.2
10,648.5
8,277.6
590.8
1.637.2
142.9
2.121.9
114.6
2.130.6
2,961.9
1,224.5
1,058.9
10,969.6
8,528.4
605.5
1.689.5
146.2
2.138.1
17
18
19
20
21
22
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
7,007.7'
6,513.7'
4,535.6'
1,796.7
181.5
1.192.3
7,621.5'
6,908.1'
4,756.8'
1,959.3
192.0
1.298.1
8,367.7'
7,092.9'
4,785.2'
2,107.8
199.8
1.442.0
9,236.9'
7,416.0'
4,944.5'
2,264.0
207.6'
1.559.7
9,236.9'
7,416.0'
4,944.5'
2,264.0
207.6'
1.559.7
9,427.4'
7,490.8'
4,986.4'
2,298.7
205.6
1.598.6
9,667.9'
7,568.7'
5,015.0'
2,341.1
212.5
1.626.9'
9,983.2'
7,679.2'
5,074.8'
2,386.9
217.5
1.644.8
10,258.8
7,835.2
5,184.2
2,431.9
219.1
1.674.9
10,427.2
7,962.7
5,265.9
2,480.6
216.2
1.724.9
10,694.3
8,138.0
5,359.6
2,554.3
224.1
1.766.0
23 Foreign credit market debt held in
United States
727.6'
683.9'
754.6'
808.9'
808.9'
829.9'
814.7'
839.1'
891.1
895.9
918.7
24
25
26
27
120.9
486.0'
70.5
50.2
106.7
467.5'
63.2
46.4
142.8
499.1'
68.6
44.1
165.1
541.0'
60.9
42.0
165.1
541.0'
60.9
42.0
190.0
539.9'
59.2
40.8
183.4
529.9'
60.9
40.5
189.2
551.6'
58.7
39.7
228.7
560.2
63.3
38.9
232.6
559.0
66.3
38.0
242.1
574.2
65.1
37.3
23,054.7'
23,054.7'
23,515.5'
23,887.8'
24,439.2'
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
28 Total credit market debt owed by nonflnancial
sectors, domestic and foreign
19,891.1'
25,570.5
Financial sectors
29 Total credit market debt owed by
financial sectors
8,153.3'
9,043.8'
9,879.3'
10,894.2'
10,894.2'
11,049.6'
11,244.5'
11,456.6'
11,690.8
11,826.5
12,084.8
30
31
32
33
34
35
36
37
38
39
By instrument
Federal government-related
Government-sponsored enterprise securities .
Mortgage pool securities
Loans from U.S. government
Private
Open market paper
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
4,319.7
1,826.4
2,493.2
.0
3,833.6'
1,214.7
2,006.2'
91.1
438.3
83.4
4,962.3
2.130.6
2,831.8
.0
4,081.5'
1,169.4
2,258.7'
104.1
463.7
85.6
5,509.0
2.350.4
3,158.6
.0
4,370.3'
1,105.9
2,594.5'
105.6
470.5
93.8
6,083.3
2,594.1
3,489.1
.0
4,811.0'
1,042.1
3,064.3'
100.8
501.7
102.1
6,083.3
2,594.1
3,489.1
.0
4,811.0'
1,042.1
3,064.3'
100.8
501.7
102.1
6,104.4
2,594.3
3,510.2
.0
4,945.1'
1,055.0
3,160.1'
104.8
516.6
108.7
6,170.7
2,647.3
3,523.5
.0
5,073.8'
1,028.2
3,275.5'
99.2
558.1
112.7
6,214.1'
2,670.5'
3,543.6
.0
5,242.5'
1,022.0
3,435.9'
112.5
554.3
117.8
6,201.4
2,659.2
3,542.2
.0
5,489.4
1,076.3
3,596.3
113.2
575.8
127.7
6,154.3
2,606.8
3,547.5
.0
5,672.2
1,087.9
3,757.1
114.6
578.6
134.0
6,153.9
2,585.7
3,568.2
.0
5,930.9
1,179.2
3,890.7
109.6
611.9
139.4
40
41
42
43
44
45
46
47
48
49
50
51
52
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
Issuers of asset-backed securities (ABSs)
Brokers and dealers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Funding corporations
266.7
242.5
287.7
3.4
2.5
1.826.4
2.493.2
1,524.0'
40.9
778.0
16.0
168.0
503.9
296.0
266.1
285.7
4.9
3.1
2.130.6
2.831.8
1,767.5'
42.3
779.2
16.0
171.2
449.3
325.5
286.4
262.3
6.9
5.1
2.350.4
3.158.6
1,961.5'
40.6
821.4
16.0
195.7
448.8
339.3
321.8
268.3
9.1
8.0
2.594.1
3.489.1
2,186.8'
47.0
939.6
16.0
227.7
447.4
339.3
321.8
268.3
9.1
8.0
2.594.1
3.489.1
2,186.8'
47.0
939.6
16.0
227.7
447.4
355.8
347.5
267.2
8.4
7.9
2.594.3
3.510.2
2,222.7'
60.0
959.0
16.0
244.4
456.1
358.7
351.5
308.0
9.6
8.6
2.647.3
3,523.5
2,301.5'
60.6
963.1
16.0
255.3
440.8
356.8
366.6
308.2
9.9
8.6
2.670.5'
3.543.6
2,395.3'
68.9
995.1
16.0
295.8
421.3
357.5
381.3
332.8
11.4
11.1
2.659.2
3.542.2
2,495.6
62.2
1,057.8
16.0
335.3
428.5
373.0
403.3
324.3
11.8
10.7
2.606.8
3.547.5
2,609.8
65.0
1,071.3
16.0
350.6
436.5
383.4
408.6
344.1
12.5
11.2
2.585.7
3.568.2
2,738.2
63.7
1,075.9
16.0
371.6
505.4
28,934.9'
31,173.5'
33,948.9'
33,948.9'
34,565.1'
35,132.3'
35,895.8'
36,745.7
37,397.0
38,118.6
1,466.2
8.341.8
1,603.7
5,304.2'
1,421.0
1,451.1
7,481.5'
1,865.4'
1,374.7
9.146.0
1,763.1
5,803.9'
1,340.4
1,475.9
8,316.8'
1,952.8'
1,293.1
10,116.3
1,898.2
6,473.8'
1,278.3
1,515.0
9,331.0'
2,043.2'
1,293.1
10,116.3
1,898.2
6,473.8'
1,278.3
1,515.0
9,331.0'
2,043.2'
1,340.4
10,273.4
1,940.4
6,597.1'
1,265.3
1,527.0
9,593.5'
2,028.0'
1,314.2
10,380.3
1,974.0'
6,704.2'
1,281.8
1,575.4
9,862.6'
2,039.8'
1,320.5
10,507.1'
1,993.6
6,899.2'
1,285.3
1,575.0
10,230.7'
2,084.6'
1,406.7
10,596.3
2,028.0
7,102.8
1,325.3
1,617.7
10,528.9
2,139.9
1,436.1
10,713.9
2,082.6
7,271.0
1,347.2
1,641.7
10,782.6
2,121.9
1,535.9
10,670.8
2,130.6
7,426.9
1,399.1
1,708.2
11,109.1
2,138.1
53 Total credit market debt, domestic and foreign
54
55
56
57
58
59
60
61
Open market paper
U.S. government securities .
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances . .
Mortgages
Consumer credit
1,614.0
7,704.8
1,480.9
4,722.5'
1,496.6
1,420.5
6,807.7'
1,732.7'
1. Data in this table appear in the Board's Z.I quarterly statistical release, tables L.2
through L.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction category or sector
Q4'
Ql'
Q2'
Q3'
Q4'
Ql'
Q2
CREDIT MARKET DEBT OUTSTANDING2
1 Total credit market assets
26,979.7
28,934.9
31,173.5
33,948.9
33,948.9
34,565.1
35,132.3
35,895.8
36,745.7
37,397.0
38,118.6
3,568.4
2,363.2
250.4
63.2
891.5
272.6
2,590.8
20,547.9
511.8
5,006.3
4,419.5
511.3
20.5
55.0
1,088.8
379.7
1,943.9
509.4
624.0
743.2
1,317.5
1,097.7
105.3
1,794.4
2,493.2
1,434.1
851.2
32.1
37.5
223.6
318.9
3,448.9
2,148.2
246.1
69.7
985.0
278.6
2,949.0
22,258.3
551.7
5,210.5
4,610.1
510.7
24.7
65.0
1,133.4
421.2
2,074.8
518.4
637.3
689.4
1,584.9
1,223.8
108.5
2,099.1
2,831.8
1,664.2
846.4
32.1
46.2
316.0
223.8
3,502.2
2,089.3
272.1
69.3
1,071.4
288.2
3,424.1
23,959.1
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,167.0
463.9
2,307.8
558.3
663.0
638.7
1,567.1
1,368.0
117.1
2,323.2
3,158.6
1,866.1
867.6
32.1
71.7
344.4
138.7
3,839.4
2,371.6
271.3
72.6
1,124.0
285.6
3,918.4
25,905.5
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,293.3
514.5
2,488.3
625.2
677.2
605.3
1,471.3
1,505.7
153.3
2,559.7
3,489.1
2,098.0
951.8
32.1
95.2
424.1
225.2
3,839.4
2,371.6
271.3
72.6
1,124.0
285.6
3,918.4
25,905.5
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,293.3
514.5
2,488.3
625.2
677.2
605.3
1,471.3
1,505.7
153.3
2,559.7
3,489.1
2,098.0
951.8
32.1
95.2
424.1
225.2
3,749.6
2,264.5
266.0
73.3
1,145.8
286.8
4,113.6
26,415.0
674.1
6,135.3
5,525.9
492.9
36.7
79.9
1,370.8
524.2
2,546.3
651.5
688.4
610.6
1,416.9
1,558.9
155.8
2,555.7
3,510.2
2,137.2
989.2
32.1
118.8
405.0
264.0
3,825.8
2,329.8
269.3
74.1
1,152.6
283.8
4,321.2
26,701.5
687.4
6,270.2
5,665.7
484.0
36.1
84.5
1,408.6
541.5
2,586.1
667.8
694.2
604.9
1,352.0
1,558.9
161.2
2,603.8
3,523.5
2,220.2
1,009.9
32.1
125.8
325.5
255.3
3,909.8
2,403.3
269.4
74.7
1,162.5
289.9
4,475.4
27,220.6
700.3
6,336.9
5,734.3
478.6
36.9
87.1
1,453.0
547.7
2,631.6
686.2
705.4
588.7
1,321.6
1,586.7
161.3
2,631.3
3,543.6
2,315.9
1,033.5
32.1
156.7
453.5
258.7
4,042.2
2,489.1
293.9
75.1
1,184.1
289.5
4,679.7
27,734.4
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,514.7
556.5
2,661.4
698.8
712.1
586.6
1,346.3
1,622.8
164.5
2,605.9
3,542.2
2,407.4
1,083.0
32.1
176.2
394.9
291.1
4,016.3
2,443.2
283.1
75.4
1,214.6
289.3
4,866.7
28,224.7
717.3
6,751.8
6,062.4
561.6
34.0
93.8
1,523.3
565.0
2,718.2
721.1
714.0
586.4
1,294.3
1,670.0
166.0
2,581.4
3,547.5
2,519.3
1,090.7
32.1
181.9
440.0
322.3
4,043.2
2,442.0
285.5
75.5
1,240.3
285.9
5,065.3
28,724.1
724.7
6,918.3
6,187.4
592.1
41.4
97.4
1,579.5
576.9
2,732.6
733.4
725.6
595.6
1,252.7
1,696.5
166.5
2,571.2
3,568.2
2,642.8
1,099.6
32.1
194.3
466.2
361.6
26,979.7
28,934.9
31,173.5
33,948.9
33,948.9
34,565.1
35,132.3
35,895.8
36,745.7
37,397.0
38,118.6
46.1
2.2
23.2
803.3
221.3
1,413.1
2,860.4
1,052.6
1,812.1
1,197.3
4,435.3
822.7
819.1
9,000.1
2,747.7
204.8
10,582.6
46.8
2.2
24.5
810.1
191.4
1,603.2
3,127.6
1,121.1
2,240.6
1,233.7
4,135.5
825.9
880.0
8,571.8
2,667.3
219.2
11,387.6
55.8
25.5
831.1
206.0
1,646.7
3,398.5
1,171.3
2,223.9
1,340.3
3,638.4
738.8
920.9
7,814.8
2,738.1
241.4
11,999.5
62.3
2.2
26.0
853.4
203.5
1,780.6
3,627.9
1,233.2
2,016.4
1,567.5
4,653.2
871.3
1,013.2
9,193.6
2,840.5
250.2
12,410.2
62.3
2.2
26.0
853.4
203.5
1,780.6
3,627.9
1,233.2
2,016.4
1,567.5
4,653.2
871.3
1,013.2
9,193.6
2,840.5
250.2
12,410.2
61.5
2.2
26.2
891.5
117.8
1,791.8
3,721.5
1,332.2
1,968.9
1,618.4
4,912.0
952.8
1,022.5
9,396.1
2,897.6
264.8
12,673.5
58.9
2.2
26.5
895.6
135.8
1,847.9
3,793.9
1,379.3
1,914.8
1,569.2
4,966.2
987.2
1,031.9
9,497.0
2,942.9
270.1
12,782.6
58.7
2.2
26.7
915.5
102.6
1,857.4
3,831.0
1,437.2
1,866.4
1,673.5
4,983.2
985.5
1,038.2
9,493.9
3,003.9
283.1
12,969.7
62.2
2.2
26.7
964.7
126.6
1,929.9
3,877.3
1,505.6
1,879.8
1,650.3
5,436.0
1,037.9
1,060.4
10,115.3
3,075.7
274.9
13,472.5
56.3
2.2
26.9
1,057.5
186.0
1,922.4
3,941.5
1,576.6
1,841.0
1,786.7
5,471.6
1,051.5
1,069.4
9,922.8
3,103.6
289.3
13,557.3
54.3
2.2
27.2
1,070.0
171.0
1,954.1
3,970.4
1,638.3
1,832.4
1,916.0
5,605.5
1,058.5
1,086.6
10,132.2
3,166.3
290.1
13,774.5
51 Total liabilities
65,023.6
68,023.4
70,166.8
76,554.1
76,554.1
78,216.4
79,234.7
80,424.4
83,243.7
84,259.6
85,868.1
Financial assets not included in liabilities (+)
52 Gold and special drawing rights
53 Corporate equities
54 Household equity in noncorporate business
21.6
17,627.0
4,883.5
21.8
15,310.6
4,990.4
23.2
11,900.5
5,161.3
23.7
15,618.5
5,527.7
23.7
15,618.5
5,527.7
23.7
15,953.0
5,592.6
23.7
16,108.6
5,735.7
23.8
15,771.0
5,935.4
24.6
17,378.0
6,098.3
22.6
16,993.0
6,374.3
22.3
17,157.4
6,564.0
-8.5
628.6
-4.3
417.9
120.0
-3,392.1
-8.6
621.1
11.1
365.3
93.4
-3,477.4
-9.1
629.0
15.5
405.5
120.7
-3,292.6
-9.5
678.6
12.6
379.5
73.9
-3,063.2
-9.5
678.6
12.6
379.5
73.9
-3,063.2
-9.6
701.7
16.5
340.8
63.0
-3,130.0
-9.5
688.4
27.4
290.6
81.7
2,967.0
-9.6
719.6
20.4
324.1
92.8
2,918.3
-9.7
740.2
27.3
254.1
98.1
-2,959.2
-9.6
825.1
35.1
404.1
94.5
-3,196.1
-9.4
811.3
23.3
468.1
99.2
-3,195.4
-2.3
22.0
135.0
-12.3
21.6
145.9
-11.7
20.9
295.8
-17.9
20.8
334.5
-17.9
20.8
334.5
1.1
17.4
314.1
.1
21.5
254.9
3.1
14.7
280.9
11.2
23.6
360.2
4.9
20.9
314.8
1.7
25.6
258.0
89,639.2
90,586.3
89,078.1
99,314.7
99,314.7
101,470.7 102,714.7 103,626.8 108,198.9 109,155.8
111,129.4
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
29
30
31
32
Domestic nonfederal nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered banks
Foreign banking offices in United States
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Life insurance companies
Other insurance companies
Private pension funds
State and local government retirement funds . .
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
Asset-backed securities (ABSs) issuers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
33 Total credit market debt
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
55
56
57
58
59
60
Other liabilities
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank liabilities
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Trade payables
Taxes payable
Miscellaneous
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
61 Federal government checkable deposits
62 Other checkable deposits
63 Trade credit
64 Totals identilled to sectors as assets
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables L.I
and L.5, available at www.federalreserve.gov/releases.
2. Excludes corporate equities and mutual fund shares.
40
Federal Reserve Bulletin Statistical Supplement • September 2005
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2004
2004
2005
2005
2004
2005
Series
Q3
Q4
Q1
Q2'
Q3
Q4
Q1
Q2
Capacity (percent of 1997 output)
Output (1997=100)
Q3
Q4
Q1
Q2'
Capacity utiliz ition rate (percent)2
1 Total industry
115.9
117.2
118.2
118.6
148.2
148.7
149.1
149.5
78.2
78.8
79.3
79.4
2 Manufacturing
Manufacturing (NAICS)
3
117.9
118.8
119.3
120.2
120.4
121.2
120.7
121.5
153.1
155.4
153.6
155.9
154.1
156.4
154.7
157.0
77.0
76.4
77.6
77.1
78.1
77.5
78.1
77.4
4
5
134.0
93.6
136.1
94.2
137.9
92.1
138.4
85.6
180.1
114.3
181.1
114.0
182.3
114.0
183.7
114.3
74.4
81.9
75.2
82.6
75.6
80.8
75.4
74.9
97.2
97.7
295.5
97.1
98.8
304.2
97.1
100.3
320.1
97.1
102.5
330.2
138.7
126.0
417.0
138.6
126.1
427.6
138.6
126.1
438.8
138.3
126.0
450.1
70.1
77.5
70.9
70.1
78.4
71.1
70.1
79.5
72.9
70.2
81.4
73.4
95.9
122.7
95.8
127.4
94.8
128.2
95.0
126.6
119.7
153.7
119.3
154.3
118.8
155.4
117.9
157.0
80.1
79.8
80.2
82.6
79.8
82.5
80.6
80.7
100.6
100.5
104.5
76.2
101.9
101.3
105.5
75.2
103.9
101.7
105.9
75.6
108.2
101.5
106.4
74.7
155.1
126.9
129.2
101.9
155.5
126.8
129.3
100.9
156.1
126.7
129.4
99.8
157.0
126.6
129.6
98.5
64.9
79.3
80.9
74.8
65.5
79.8
81.6
74.5
66.6
80.2
81.9
75.8
68.9
80.2
82.1
75.8
95.7
110.3
111.0
104.2
104.7
95.5
111.9
112.3
104.3
104.8
96.9
112.1
112.6
104.7
107.7
94.7
113.1
112.9
103.5
108.8
110.3
122.3
146.4
125.3
119.4
110.2
122.5
146.7
125.0
119.7
110.2
122.7
146.8
124.6
119.9
110.3
122.8
146.8
124.1
119.9
86.8
90.2
75.9
83.2
87.6
86.6
91.3
76.6
83.5
87.6
87.9
91.4
76.7
84.0
89.9
85.8
92.1
76.9
83.4
90.7
20
21 Electric and gas utilities
91.2
113.1
90.4
115.9
92.2
115.0
93.0
116.2
105.7
135.1
105.6
135.7
105.4
136.2
105.2
136.5
86.3
83.7
85.6
85.4
87.5
84.4
88.4
85.1
MEMOS
22 Computers, communications equipment, and
semiconductors
415.2
429.5
458.1
472.3
593.8
615.3
637.7
658.9
69.9
69.8
71.8
71.7
23 Total excluding computers, communications
equipment, and semiconductors
103.6
104.6
105.3
105.5
131.3
131.4
131.5
131.6
78.9
79.6
80.1
80.2
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
103.5
104.5
105.1
105.2
133.0
133.0
133.1
133.2
77.8
78.5
79.0
79.0
6
7
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
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
2005
2004
Series
Low
High
Low
Aug.
Mar.
Apr.
May'
June'
July'
Aug.p
Capacity ut lization rate (percent)4
1 Total Industry
88.7
73.9
86.6
70.8
85.1
78.6
78.3
79.5
79.0
79.2
79.8
79.8
79.8
2 Manufacturing
3
Manufacturing (NAICS)
88.1
88.2
71.4
71.2
86.3
86.4
68.5
67.9
85.6
85.5
77.2
77.0
77.2
76.6
78.1
77.4
77.8
77.2
78.1
77.4
78.3
77.6
78.3
77.6
78.4
77.8
89.1
100.9
69.3
69.2
86.9
91.2
62.9
47.2
84.5
94.3
73.4
74.6
74.6
81.6
75.4
80.4
75.1
76.4
75.3
75.3
75.6
72.9
75.8
73.6
76.4
75.2
91.7
94.3
83.1
93.0
62.0
58.6
80.2
84.8
71.6
73.0
70.4
76.7
70.1
79.7
70.1
80.6
70.2
81.5
70.3
82.0
70.6
83.8
71.0
81.6
87.0
70.0
73.9
n
66.1
89.3
76.2
81.7
76.6
70.9
73.0
73.0
73.6
73.5
74.4
75.1
99.3
95.4
68.4
54.7
92.0
96.1
64.4
45.2
87.5
90.3
75.1
56.0
80.4
81.0
79.8
81.6
79.7
80.1
80.8
80.1
81.2
81.8
81.8
80.0
82.1
82.7
74.2
87.5
65.3
72.3
84.2
85.7
69.3
75.6
88.7
87.1
82.1
81.7
65.0
79.4
67.0
80.3
68.5
80.0
69.0
80.2
69.2
80.4
69.2
80.3
70.2
79.9
86.2
89.4
77.6
62.2
84.4
90.4
80.6
72.4
85.6
91.5
81.0
77.2
80.8
75.0
81.7
75.8
81.4
75.4
82.5
76.4
82.6
75.8
82.6
76.7
82.2
76.2
97.3
92.6
85.2
96.0
86.0
74.4
81.1
68.9
61.5
75.4
95.4
92.0
83.1
90.2
88.5
81.3
71.0
68.0
70.8
86.1
93.7
88.9
85.7
91.1
90.5
85.2
82.9
80.9
77.1
80.4
86.3
91.3
76.4
83.3
88.7
88.3
90.9
77.0
83.6
90.3
86.3
92.2
76.8
84.1
90.4
85.1
90.8
77.0
83.2
91.3
86.1
93.2
76.9
83.1
90.5
85.7
90.8
76.9
83.0
89.6
85.3
90.0
76.0
84.3
89.0
20 Mining
21 Electric and gas utilities
93.6
96.4
87.6
82.8
94.0
88.2
78.6
77.7
85.8
92.8
83.5
84.2
86.9
82.3
88.2
86.2
88.4
83.7
88.2
83.8
88.6
87.8
87.8
88.4
87.4
87.8
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.5
89.1
74.1
81.0
74.3
70.0
71.6
71.4
71.9
71.8
72.6
72.8
23 Total excluding computers,
communications equipment,
and semiconductors
89.0
74.2
86.7
70.6
85.5
78.8
79.0
80.3
79.8
80.0
80.7
80.6
80.6
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.2
71.7
86.4
68.2
86.0
77.3
78.0
79.0
78.7
79.0
79.2
79.1
79.3
4
5
Durable manufacturing
Primary metal
6
7
8
14
Fabricated metal products . . . .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts
Aerospace and
miscellaneous
transportation equipment .
Nondurable manufacturing
Food, beverage, and tobacco
products
Textile and product mills . . . .
15
16
17
18
19
Paper
Petroleum and coal products . .
Chemical
Plastics and rubber products . .
Other manufacturing (non-NAICS) .
9
10
11
12
13
NOTE: The statistics in the G.17 statistical release cover output, capacity, and capacity
utilization in the industrial sector, which the Federal Reserve defines as manufacturing,
mining, and electric and gas utilities. Manufacturing consists of those industries included in
the North American Industry Classification System, or NAICS, manufacturing plus those
industries—logging and newspaper, periodical, book, and directory publishing—that have
traditionally been considered manufacturing and included in the industrial sector.
1. Data in this table also appear in the Board's G.17 (419) monthly statistical release, on
the Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in December 2004.
The recent annual revision is described in the Winter 2005 issue of the Bulletin.
2. Monthly highs, 1978-80; monthly lows, 1982.
3. Monthly highs, 1988-89; monthly lows, 1990-91.
4. Capacity utilization is calculated as the ratio of the Federal Reserve's seasonally
adjusted index of industrial production to the corresponding index of capacity.
42
Federal Reserve Bulletin Statistical Supplement • September 2005
2.13
INDUSTRIAL PRODUCTION
Indexes and Gross Value1
Monthly data seasonally adjusted
Group
2002
proportion
Aug.
Sept.
Oct.
Jan.
Feb.
Mai
Apr.
Mayr
Aug.'
Index (1997=100)
MAJOR MARKETS
116.0
115.7
116.6
116.9
117.9
117.8
118.3
118.6
118.1
118.5
119.4
119.5
18.1
9.7
1.0
4.9
2.0
3.9
124.9
134.8
231.6
113.6
102.7
106.2
104.4
103.6
49.0
125.3
109.3
114.7
113.6
111.4
125.4
135.3
225.2
114.4
103.6
106.1
105.1
103.9
47.5
126.9
111.5
111.2
113.3
110.7
123.5
133.1
221.2
112.8
102.3
105.8
104.7
104.0
47.8
125.7
109.7
111.5
114.6
112.3
126.2
137.8
234.9
113.3
102.4
107.0
105.9
104.9
47.6
128.3
110.5
112.7
114.6
112.3
125.7
136.8
225.2
114.0
102.5
107.2
105.8
105.1
48.0
126.9
111.5
114.2
115.6
113.1
126.1
137.9
210.1
114.7
102.5
108.2
106.2
105.2
47.4
127.5
113.5
118.1
115.5
112.4
124.3
134.3
217.0
113.9
102.7
107.8
106.7
105.5
47.1
127.5
115.9
113.4
116.1
113.3
128.1
141.1
230.5
114.4
102.7
107.7
106.7
104.7
46.5
130.0
115.1
113.1
116.5
113.5
126.0
137.7
220.6
115.3
101.8
108.7
106.9
104.7
45.9
130.4
116.1
117.7
116.2
112.4
123.9
134.8
211.9
112.2
101.8
108.0
106.7
104.4
46.2
130.3
116.5
114.4
116.8
113.2
124.9
136.4
218.9
114.2
101.0
108.7
107.7
105.8
44.3
131.4
117.4
113.7
117.7
114.3
126.6
139.9
202.6
115.6
101.1
109.6
107.9
106.5
43.9
131.0
117.1
117.7
117.9
113.7
125.1
137.4
203.6
114.7
100.8
109.3
107.6
106.5
44.7
129.7
116.1
117.5
118.1
114.1
128.6
143.8
204.3
115.5
101.4
108.6
107.0
106.0
44.3
128.6
115.3
116.6
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
58.8
30.9
8.9
4.6
0.3
1.5
2.4
113.2
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.3
1.9
3.0
5.3
1.8
119.2
89.9
174.8
99.6
111.2
120.7
90.5
177.7
100.7
112.7
121.1
90.7
179.3
100.9
113.5
122.7
93.5
180.8
101.8
113.8
122.1
92.8
182.3
100.7
114.5
123.7
94.0
185.3
101.9
115.1
125.2
95.6
188.6
102.6
115.6
125.4
97.2
189.9
101.9
117.4
125.6
95.7
191.1
102.4
118.2
126.9
97.1
192.8
103.3
120.9
128.2
98.0
196.0
104.0
121.6
128.6
98.6
198.0
103.8
122.9
130.6
97.9
201.6
106.2
124.8
130.3
99.0
205.5
104.2
126.5
21
22
Construction supplies
Business supplies
4.3
11.2
106.9
114.8
108.3
114.8
107.6
114.9
108.3
115.3
107.8
115.9
107.8
117.2
108.5
117.1
109.6
117.0
109.4
117.9
110.0
117.8
110.0
117.6
109.1
119.1
109.8
119.0
110.6
118.9
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
41.2
30.9
19.3
4.1
6.7
8.5
11.7
0.8
2.8
4.5
10.3
118.7
124.6
142.1
109.6
235.1
98.0
97.5
67.5
93.2
104.3
99.3
119.3
125.8
143.6
109.2
240.0
98.9
98.3
68.0
93.5
106.0
98.6
118.9
125.5
143.3
108.5
241.5
98.3
97.8
67.6
94.2
104.9
98.2
119.4
126.4
144.8
110.7
243.9
98.9
98.1
67.1
93.3
105.1
97.6
120.1
127.1
145.8
110.6
247.2
99.5
98.4
67.0
94.0
106.4
98.2
121.0
127.5
146.2
110.9
250.4
99.1
98.8
67.1
94.4
107.1
100.1
120.8
128.1
147.2
110.6
255.2
99.2
98.7
67.3
94.7
104.5
98.4
121.2
128.2
147.6
112.8
256.9
98.4
98.5
66.1
94.5
105.3
99.4
121.4
128.1
147.4
110.7
258.0
98.6
98.7
65.4
96.1
105.0
100.1
120.5
127.2
146.5
108.5
261.2
97.2
97.8
64.9
94.0
104.2
99.2
120.6
127.3
146.7
109.0
263.4
96.7
97.8
65.6
93.0
103.5
99.4
121.6
127.5
147.4
112.8
264.8
95.8
97.4
65.5
94.0
103.5
101.7
121.6
127.9
147.8
110.9
268.9
95.9
97.7
65.3
93.3
104.2
101.2
121.7
128.4
149.6
112.4
272.1
97.0
96.7
64.1
93.0
102.5
100.5
94.9
92.6
103.4
114.8
103.7
115.4
103.4
115.1
104.2
115.8
104.4
116.2
105.2
117.1
104.9
117.1
105.3
117.3
105.6
117.9
105.0
117.5
105.3
117.9
106.1
118.7
106.1
118.9
106.2
118.8
SPECIAL AGGREGATES
34 Total excluding computers, communication
equipment, and semiconductors
35 Total excluding motor vehicles and parts . .
Gross value (billions of 2000 dollars, annual rates)
36 Final products and nonindustrial
supplies
37 Final products
38
Consumer goods
39
Equipment total .
Nonindustrial supplies .
2,859.0
43.3
30.9
12.4
15.5
2,856.4
2,924.4
2,938.6
2,968.9
2,941.3
2,163.9 2,172.6 2,160.7 2,195.3 2,192.2 2,216.3 2,210.3 2,229.5 2,229.3 2,215.5 2,229.7 2,254.2 2,251.9 2,257.9
1,542.9 1,545.1 1,530.2 1,555.1 1,554.0 1,571.2 1,557.0 1,575.1 1,575.4 1,555.7 1,564.6 1,585.5 1,573.2 1,580.6
683.8
685.6
623.2
630.2
634.0
643.6
641.5
648.4
658.1
658.5
657.9
665.3
670.8
673.9
695.3
696.1
695.8
699.9
703.7
708.4
705.9
709.5
711.1
713.8
711.9
717.8
717.4
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2004
2005
2004
avg.
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
Mayr
June'
July'
Aug.'
Index (1997=100)
INDUSTRY GROUPS
41 Manufacturing
42
Manufacturing (NAICS)
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
Durable manufacturing
Wood products
Nonmetallic mineral
products
Primary metal
Fabricated metal products .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts . .
Aerospace and
miscellaneous
transportation
equipment
Furniture and related
products
Miscellaneous
Nondurable manufacturing . .
Food, beverage, and
tobacco products . . . .
Textile and product mills . .
Apparel and leather
Paper
Printing and support
Petroleum and coal
products
Chemical
Plastics and rubber
products
Other manufacturing
(non-NAICS)
65 Mining
66 Utilities
67
Electric
68
Natural gas
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors
70 Manufacturing excluding motor
vehicles and parts
83.8
79.0
117.2
118.1
118.3
119.0
117.7
118.6
119.0
120.0
119.1
120.0
119.7
120.6
120.2
120.9
120.6
121.5
120.5
121.3
120.3
121.0
120.8
121.5
121.2
122.0
121.3
122.2
121.7
122.6
321
43.7
1.5
133.0
104.6
134.4
104.7
134.1
102.8
135.7
106.2
135.9
104.2
136.8
104.1
137.3
105.4
138.4
101.8
137.9
101.9
137.7
101.0
138.4
101.5
139.2
100.5
139.9
101.7
141.4
100.7
327
331
332
333
2.3
2.4
5.8
5.4
105.6
92.3
96.5
96.4
106.9
93.2
97.6
96.6
106.4
94.2
96.9
97.3
106.5
94.3
97.2
98.6
106.7
95.2
97.0
98.7
108.8
93.1
97.2
99.0
108.0
93.2
97.2
100.2
109.8
91.3
97.1
100.3
108.2
91.7
97.0
100.4
108.3
87.2
97.1
101.5
108.0
86.1
97.1
102.6
108.9
83.5
97.1
103.3
107.1
84.3
97.5
105.4
107.9
86.3
97.9
102.7
334
8.0
288.2
295.4
298.0
301.0
303.5
308.0
316.2
320.9
323.1
326.0
331.1
333.5
340.7
347.0
335
3361-3
2.2
7.4
94.4
124.5
96.3
124.5
96.1
123.1
94.9
127.4
95.3
126.7
97.1
128.2
95.9
126.0
94.0
131.4
94.5
127.3
94.2
125.3
95.3
125.7
95.5
128.9
95.9
126.5
96.0
131.3
3364-9
3.6
99.9
100.8
100.3
101.3
101.7
102.6
102.7
104.3
104.8
107.4
108.4
108.9
109.0
110.9
337
339
1.8
3.3
108.9
121.3
109.7
122.1
108.1
120.9
108.7
122.4
108.5
122.9
109.4
123.1
108.3
124.2
107.2
124.7
108.1
124.3
106.2
124.5
106.0
124.3
106.7
125.2
107.1
125.3
107.1
127.0
35.3
100.2
100.7
100.2
101.2
101.2
101.4
101.6
101.6
101.7
101.3
101.6
101.7
101.6
101.0
311,2
313,4
315,6
322
323
11.3
1.3
1.0
3.2
2.5
104.2
75.8
49.5
94.8
87.8
104.4
76.4
48.1
95.2
86.9
104.5
75.5
48.5
95.2
88.8
105.6
76.5
48.2
95.8
87.8
105.4
75.1
48.7
95.2
88.0
105.6
74.0
48.1
95.5
87.8
106.3
76.0
47.6
97.2
88.4
105.7
75.5
47.1
96.0
88.0
105.8
75.4
46.4
97.3
89.1
105.4
74.6
46.7
95.2
88.5
106.8
75.2
45.0
93.9
89.0
107.0
74.3
44.6
94.9
89.2
107.2
74.8
45.3
94.5
88.7
106.6
74.0
45.0
94.1
88.5
324
325
1.6
10.6
109.7
110.3
111.6
111.8
108.0
110.5
110.1
112.1
112.0
112.2
113.6
112.7
110.7
111.8
114.1
112.9
111.5
113.1
113.3
112.7
111.5
113.1
114.5
112.8
111.6
112.8
110.6
111.5
326
3.8
104.0
104.4
103.2
104.6
104.1
104.3
105.5
104.5
104.1
104.5
103.2
102.9
102.7
104.0
1133,5111
4.8
103.4
105.9
104.0
103.8
104.4
106.1
107.8
107.1
108.3
108.4
109.5
108.6
107.5
106.8
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
91.4
115.0
117.7
98.1
91.9
111.1
113.4
98.5
89.4
114.8
117.9
98.1
89.0
114.3
118.5
93.4
90.6
114.9
118.2
97.3
91.4
118.5
121.7
101.4
90.8
114.0
117.2
97.3
93.0
113.4
116.9
95.1
92.9
117.5
120.5
101.0
93.0
114.1
117.6
96.0
92.7
114.4
116.9
100.3
93.2
120.0
124.2
99.0
92.3
120.8
125.0
99.7
91.7
120.2
124.3
99.6
78.7
102.9
103.7
103.2
104.3
104.3
104.8
105.0
105.3
105.2
104.9
105.2
105.5
105.5
105.8
76.4
116.5
117.7
117.2
118.2
118.4
118.9
119.6
119.6
119.9
119.8
120.3
120.4
120.8
120.8
NOTE: The statistics in the G.I 7 statistical release cover output, capacity, and capacity
utilization in the industrial sector, which the Federal Reserve defines as manufacturing,
mining, and electric and gas utilities. Manufacturing consists of those industries included in
the North American Industry Classification System, or NAICS, manufacturing plus those
industries—logging and newspaper, periodical, book, and directory publishing—that have
traditionally been considered manufacturing and included in the industrial sector.
1. Data in this table appear in the Board's G.17 (419) monthly statistical release, on the
Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in December 2004.
The recent annual revision is described in the Winter 2005 issue of the Bulletin.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • September 2005
3.10
U.S. INTERNATIONAL TRANSACTIONS
Summary
Millions of dollars; quarterly data seasonally adjusted except as noted1
Item credits or debits
1 Balance on current account
2
Balance on goods and services
3
Exports
4
Imports
5
Income, net
6
Investment, net
7
Direct
8
Portfolio
9
Compensation of employees
10
Unilateral current transfers, net
-475,211
-421,181
977,276
-1,398,457
10,016
15,453
99,770
-84,317
-5,437
-64,046
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
-519,679
-494,814
1,022,567
-1,517,381
46,304
51,834
121,842
-70,008
-5,530
-71,169
-668,074
-617,583
1,151,448
-1,769,031
30,439
36,234
127,921
-91,687
-5,795
-80,930
Q2
Q3
Q4
Ql'
Q2
-166,635
-152,042
285,099
-437,141
5,922
7,407
29,080
-21,673
-1,485
-20,515
-166,982
-157,465
290,370
-447,835
6,254
7,694
30,343
-22,649
-1,440
-15,771
-188,359
-169,221
298,887
-468,108
3,236
4,691
33,413
-28,722
-1,455
-22,374
-198,668
-173,052
306,444
-479,496
643
2,067
28,377
-26,310
-1,424
-26,259
-195,655
-173,327
317,284
-490,611
-455
969
29,070
-28,101
-1,424
-21,873
345
4,487
258
-3,681
0
-475
-2,632
-574
601
1,494
-572
-398
3,826
-623
-90
1,345
-133
676
-149
-110
990
-183
5,331
0
1,713
3,763
-145
-797
0
-97
-564
-136
-290,691
-38,260
-49,403
-48,568
-154,460
-330,457
-9,574
-24,240
-156,064
-140,579
-859,529
-356,133
-149,001
-102,383
-252,012
-135,006
-41,010
-5,390
-30,181
-58,425
-137,943
-44,787
-13,490
-38,444
-41,222
-290,155
-97,263
-74,669
-18,226
-99,997
-91,328
49,278
-74,934
-38,675
-26,997
-250,254
-170,999
-9,642
-36,004
-33,609
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
115,945
60,466
30,505
137
21,221
3,616
278,275
184,931
39,943
-517
48,643
5,275
394,710
272,648
38,485
488
70,329
12,760
77,039
62,977
479
45
11,350
2,188
75,792
55,357
11,542
710
4,867
3,316
94,478
41,728
15,040
-158
32,054
5,814
25,277
14,306
24,938
-650
-15,843
2,526
82,324
22,721
21,620
229
33,663
4,091
28 Change in foreign private assets in United States (increase, +)
29
U.S. bank-reported liabilities4
30
U.S. nonbank-reported liabilities
31
Foreign private purchases of U.S. Treasury securities, net
32
U.S. currency flows
33 Foreign purchases of other U.S. securities, net
34 Foreign direct investments in United States, net
678,398
96,410
95,932
100,403
21,513
283,299
80,841
610,768
96,675
99,676
104,380
16,640
226,306
67,091
1,045,395
322,627
124,358
106,958
14,827
369,793
106,832
227,898
42,116
3,887
60,424
8,754
81,678
31,039
178,436
42,164
14,752
-1,107
2,560
84,401
35,666
363,437
91,458
61,096
15,710
5,313
158,238
31,622
218,174
-67,735
93,897
75,911
1,072
79,973
35,056
310,745
168,948
-548
4,913
4,507
115,335
17,590
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
-1,363
-23,742
-3,214
-37,753
-1,648
85,126
-372
-4,044
-3,747
-297
-393
50,672
-12,977
63,649
-455
19,856
5,718
14,138
-4,466
41,193
15,238
25,955
-266
53,645
-6,200
59,845
12 Change in U.S. official reserve assets (increase, - )
13
Gold
14
Special drawing rights (SDRs)
15
Reserve position in International Monetary Fund
16 Foreign currencies
17 Change in U.S. private assets abroad (increase, - )
18
Bank-reported claims2
19
Nonbank-reported claims
20
U.S. purchase of foreign securities, net
21
U.S. direct investments abroad, net
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
41 Change in Organization of Petroleum Exporting Countries official
assets in United States (part of line 22)
-3,681
1,523
2,805
1,122
429
697
5,331
-797
115,808
278,792
394,222
76,994
75,082
94,636
25,927
82,095
-8,132
1. Seasonal factors are not calculated for lines 11-16, 18-20, 22-35, and 38-41.
2. Associated primarily with military sales contracts and other transactions arranged with
or through foreign official agencies.
3. Consists of investments in U.S. corporate stocks and in debt securities of private
corporations and state and local governments.
4. Reporting banks included all types of depository institutions as well as some brokers
and dealers.
3.12
5. Consists of capital transfers (such as those of accompanying migrants entering or
leaving the country and debt forgiveness) and the acquisition and disposal of nonproduced
nonfinancial assets.
SOURCE. U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current
Business.
U.S. RESERVE ASSETS
Millions of dollars, end of period
2005
Asset
2002
2003
2004
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.'
1 Total
79,006
85,938
86,824
81,366
80,168
78,942
79,526
77,742
76,594
74,620
72,243
2 Gold stock1
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,043
12,166
11,043
12,638
11,045
13,582
11,042
13,342
11,042
11,727
11,041
11,564
11,041
11,610
11,041
11,385
11,041
11,243
11,041
11,206
11,041
8,304
21,979
33,818
22,535
39,722
19,479
42,718
15,247
41,735
15,336
42,063
15,276
41,061
15,422
41,452
15,406
39,910
15,274
39,036
13,438
38,935
13,336
39,563
NOTE: The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at www. federalreserve.gov/releases.
1. Gold held "under earmark" at Federal Reserve Banks for foreign and international
accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold
stock is valued at $42.22 per fine troy ounce.
2. Special drawing rights (SDRs) are valued according to a technique adopted by the
International Monetary Fund (IMF) in July 1974. Values are based on a weighted average of
exchange rates for the currencies of member countries. From July 1974 through December
1980, sixteen currencies were used; since January 1981, five currencies have been used. U.S.
SDR holdings and reserve positions in the IMF have also been valued on this basis since July
1974.
3. Includes allocations of SDRs by the International Monetary Fund on Jan. 1 of the year
indicated, as follows: 1970—$867 million; 1971—$717 million; 1972—$710 million; 1979—
$1,139 million; 1980—$1,152 million; 1981—$1,093 million; plus net transactions in SDRs.
4. Valued at current market exchange rates.
Summary Statistics
3.13
45
FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS'
Millions of dollars, end of period
2005
Asset
2002
2003
2004
Jan.
1 Deposits
136
162
80
678 106
9,045
845 080
8,971
1 041 215
8,967
Feb.
121
Mar.
Apr.
86
139
126
1 039 348 1 058 929
8,967
8,967
1 062 861
8,967
1 057 109
8,967
May
105
June
July
103
Aug.'
83
81
Held in custody
3 Earmarked gold3
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
1 065 032
8,967
1 058 972
8,967
1 070 625
8,967
1 075 098
8,967
2. Marketable U.S. Treasury bills, notes, and bonds and nonmarketable U.S. Treasury
securities, in each case measured at face (not market) value.
3. Held in foreign and international accounts and valued at $42.22 per fine troy ounce; not
included in the gold stock of the United States.
SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2005
2004
Item
1
1 Total
By type
2 Liabilities reported by banks in the United States2
2002
2003
June""
June""
Dec.'
Apr.'
May'
June'
July'
1,161,907
1,445,526
1,665,335
1,780,503
1,909,050
1,940,247
1,946,529
1,953,120
1,959,851
144,646
190,444
189,824
212,032
234,553
248,862
234,553
248,862
270.405
245,197
286.348
230,105
280,572
228,961
288,763
205,170
287,117
203,174
569,891
2,769
254,157
719,302
2,613
321,755
844,444
1,569
335,907
910,456
1,569
385,063
986,454
1,630
405,364
1,004,282
1,671
417,841
1,011,097
1,682
424,217
1,027,763
911
430,513
1,031,379
923
437,258
283,512
5,962
87,261
760 012
9,355
15,835
306,272
5,112
72,869
1 034 751
8,857
17,652
334,000
6,578
98,106
1 201 702
10,187
14,749
357,316
340,412
7,806
7,631
112,625
104,911
1 296 622 1 388 408
10,842
10,812
31,864
19,926
366,222
7,084
107,531
1 410717
14,549
33,955
361,104
367,480
7,609
7,587
109,237
113,245
1 421 051 1 412 662
14,596
14,552
37,405
32,743
369,954
8,285
111,233
1,418,150
12,743
39,297
U.S. Treasury bonds and notes
5
Nonmarketable4
6 U.S. securities other than U.S. Treasury securities5
By area
7 Europe1
9 Latin America and Caribbean
11 Africa
1. Includes the Bank for International Settlements.
2. Principally demand deposits, time deposits, bankers acceptances, commercial paper,
negotiable time certificates of deposit, and borrowings under repurchase agreements.
3. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
4. Excludes notes issued to foreign official nonreserve agencies. Includes current value of
zero-coupon Treasury bond issues to foreign governments as follows: Mexico, beginning
March 1990, 30-year maturity issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
5. Debt securities of U.S. government corporations and federally sponsored agencies, and
U.S. corporate stocks and bonds.
3.16
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
6. Data in the two columns shown for this date reflect different benchmark bases for
foreigners' holdings of selected U.S. long-term securities. Figures in the first column are
comparable to those for earlier dates; figures in the second column are based in part on a
benchmark survey as of end-June 2004 and are comparable to those shown for the following
dates.
SOURCE. Based on U.S. Department of the Treasury data and on data reported to the
Treasury by banks (including Federal Reserve Banks) and securities dealers in the United
States, and in periodic benchmark surveys of foreign portfolio investment in the United
States.
Reported by Banks in the United States1
Millions of dollars, end of period
2004
Item
2001
2002
2005
2003
Sept.'
Dec'
Mar.'
June
2
3
Deposits
Other liabilities
79,363
n.a.
n.a.
80,543
n.a.
n.a.
63,119
36,674
26 ,AAi
85,740
37,042
48,698
84,163
38,892
45,271
79,049
39,977
39,072
89,336
45,772
43,564
5
Deposits
74,640
44,094
30,546
71,724
34,287
37,437
81,669
38,102
43,567
99,897
37,938
61,959
123,880
42,833
81,047
107,109
42,147
64,962
102,985
39,695
63,290
8
Deposits
17,631
n.a.
n.a.
35,923
n.a.
n.a.
21,365
5,064
16,301
27,458
7,688
19,770
32,056
8,519
23,537
32,087
11,840
20,247
33,539
10,018
23,521
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 • September 2005
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Apr/
May1
July'
B Y HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
2,804,848
2,723,261
2,767,354
2,743,936
2,865,422
2,863,477
2,888,910
,363,270
1,677,193
1,993,035
,924,170
1,962,358
1,927,916
1,983,736
2,016,809
2,074,413
2,102,849
175,231
246,623
190,134
622,318
852,803
824,390
460,191
638,413
933,904
1,059,131
647,140
811,813
927,746
996,424
575,183
799,091
933,993
1,028,365
598,852
884,498
1,043,418
605,436
929,044
1,054,692
608,558
948,285
1,068,524
610,057
975,012
1,099,401
625,328
959,550
1,143,299
649,124
804,996
816,020
838,734
848,613
789,064
236,796
258,797
318,203
786,061
311,160
306,324
309,737
308,605
308,738
272,333
189,573
202,774
271,212
308,723
303,344
330,571
333,312
306,979
309,872
37,761
74,513
195,949
34,394
83,633
176,842
47,739
152,562
180,573
46,502
146,757
173,490
51,602
131,548
189,949
57,024
131,926
202,939
52,623
147,347
199,558
52,859
147,237
206,563
48,519
142,283
209,752
51,509
132,507
204,977
13,467
12,362
5,769
6,593
1,105
14,149
12,577
6,134
6,443
1,572
110
13,315
9,829
6,098
3,731
3,486
1,339
15,773
12,543
5,124
7,419
3,230
1,107
17,848
13,800
5,593
8,207
4,048
1,116
15,497
11,173
5,343
5,830
4,324
586
15,730
11,030
4,910
6,120
4,700
1,166
19,011
13,005
4,608
8,397
6,006
2,317
16,085
10,231
5,359
4,872
5,854
2,204
15,588
10,016
5,020
4,996
5,572
2,122
16
0
1,462
2,147
0
2,119
4
2,930
2
3,736
3,532
2
3,584
105
3,559
91
3,448
2
335,090
93,884
20,733
73,151
401,856
117,737
24,208
93,529
515,602
145,536
26,633
118,903
511,660
150,943
30,776
120,167
483,494
141,412
28,859
112,553
490,405
146,731
32,310
114,421
516,453
165,093
33,267
131,826
509,533
152,055
36,616
115,439
493,933
162,285
39,132
123,153
490,291
169,970
38,845
131,125
241,206
190,444
284,119
212,032
370,066
245,197
360,717
242,553
342,082
235,530
343,674
235,843
351,360
230,105
357,478
228,961
331,648
205,170
320,321
203,174
50,698
64
69,638
2,449
123,163
1,706
117,463
701
105,908
644
107,460
371
120,781
474
127,654
863
121,940
4,538
116,789
358
1,311,267
1,055,858
56,020
58,422
255,409
25,916
1,380,639
1,163,309
706,536
456,773
217,330
18,267
1,482,637
1,266,812
755,537
511,275
215,825
27,027
1,445,704
1,236,403
749,352
487,051
209,301
23,804
1,473,251
1,245,829
752,726
493,103
227,422
25,453
1,445,709
1,216,744
698,328
518,416
228,965
25,947
1,489,896
1,257,489
743,213
514,276
232,407
35,949
1,521,564
1,282,184
753,988
528,196
239,380
35,602
1,590,881
1,365,602
781,626
583,976
225,279
28,110
1,594,934
1,364,443
764,331
600,112
230,491
28,476
57,605
171,888
49,311
149,752
52,381
136,417
53,125
132,372
54,306
147,663
54,214
148,804
50,404
146,054
51,769
152,009
41,005
156,164
47,430
154,585
36 Other foreigners''
37
Banks' own liabilities
38
Deposits2
39
Other
325,764
201,166
92,709
108,457
518,962
383,570
115,925
267,645
793,294
570,858
145,636
425,222
750,124
524,281
142,494
381,787
792,761
561,317
146,815
414,502
792,325
553,268
148,517
404,751
800,391
550,124
147,654
402,470
815,314
569,565
153,073
416,492
762,578
536,295
148,895
387,400
788,097
558,420
151,354
407,066
40
41
42
124,598
19,347
135,392
28,388
222,436
44,640
225,843
43,696
231,444
44,225
239,057
47,361
250,267
41,385
245,749
41,858
226,283
36,849
229,677
37,440
81,254
23,997
82,363
24,641
135,346
42,450
141,734
40,413
145,579
41,640
137,934
53,762
155,854
53,028
150,305
53,586
140,475
48,959
142,205
50,032
2 Banks' own liabilities
By type of liability
3
Deposits 2
4
Other
5
Of which: repurchase agreements 3
6
Banks' custody liabilities4
By type of liability
7
U.S. Treasury bills and certificates5
8
Other negotiable and readily transferable
instruments'"
9
Of which: negotiable time
certificates of deposit held in custody
for foreigners
10
Of which: short-term agency securities7 . . .
11
Other
12 Nonmonetary international and regional organizations5 . .
13
Banks' own liabilities
14
Deposits 2
15
Other
16
Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments'"
Other
19
20 Official institutions9
21
Banks' own liabilities
22
Deposits 2
23
Other
24
25
26
27
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments''
Other
10
28 tanks
29
Banks' own liabilities
30
Deposits2
31
Other
32
Banks' custody liabilities4
33
U.S. Treasury bills and certificates5 . .
34
Other negotiable and readily
transferable instruments'"
35
Other
43
Banks' custodial liabilities
U.S. Treasury bills and certificates5
Other negotiable and readily
transferable instruments'' . . .
Other
1,985,588
MEMO
44 Own foreign offices12
941,416
1. Reporting banks include all types of depository institutions as well as some banks/
financial holding companies and brokers and dealers. Excludes bonds and notes of maturities
longer than one year. Effective February 2003, coverage is expanded to include liabilities of
brokers and dealers to affiliated foreign offices.
2. Non-negotiable deposits and brokerage balances.
3. Data available beginning January 2001.
4. Financial claims on residents of the United States, other than long-term securities, held
by or through reporting banks for foreign customers. Effective February 2003, also includes
loans to U.S. residents in managed foreign offices of U.S. reporting institutions.
5. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
6. Principally bankers acceptances, commercial paper, negotiable time certificates of
deposit, and short-term agency securities.
7. Data available beginning January 2001.
8. Principally the International Bank for Reconstruction and Development, the InterAmerican Development Bank, and the Asian Development Bank. Excludes "holdings of
dollars" of the International Monetary Fund.
9. Foreign central banks, foreign central governments, and the Bank for International
Settlements.
10. Excludes central banks, which are included in "Official institutions." Includes positions with affiliated banking offices also included in memo line (44) above.
11. As of February 2003, includes positions with affiliated non-banking offices also
included in memo line (44) above.
12. For U.S. banks, includes amounts owed to own foreign branches and foreign subsidiaries consolidated in the quarterly Consolidated Reports of Condition filed with bank
regulatory agencies. For agencies, branches, and majority-owned subsidiaries of foreign
banks, consists principally of amounts owed to the head office or parent foreign office, and to
foreign branches, agencies, or wholly owned subsidiaries of the head office or parent foreign
bank. Effective February 2003, includes amounts owed to affiliated foreign offices of U.S.
brokers and dealers.
Bank-Reported Data
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
47
Reported by Banks in the United States1—Continued
Millions of dollars, end of period
Apr.
July'
AREA OR COUNTRY
45 Total, all foreigners
1,985,588
2,315,606
2,804,848
2,723,261
2,767,354
2,743,936
2,822,470' 2,865,422' 2,863,477' 2,888,910
46 Foreign countries
1,972,121 2,301,457
2,791,533
2,707,488
2,749,506
2,728,439
2,806,740' 2,846,411' 2,847,392' 2,873,322
966,378
4,261
13,512
3,147
1,056
57,048
50,568
1,178
7,198
50,012
17,591
32,723
1,545
70,186
8,410
6,118
99,222
5,188
417,035
20,725
110
99,545
956,046
3,685
14,193
4,207
2,666
63,491
47,970
2,025
7,950
51,383
20,535
27,001
3,337
70,222
10,580
5,979
91,210
6,985
404,183
20,939
91
97,414
1,029,546
4,103
13,449
3,584
2,942
64,528
51,979
1,540
7,927
54,077
22,755
23,175
1,647
76,440
10,113
5,184
119,481
3,705
436,818
20,858
100
105,141
1,008,395
5,208
15,627
3,107
1,030
57,129
60,440
1,048
8,010
53,264
24,215
26,076
2,346
75,814
6,777
5,591
83,002
4,873
446,199
21,918
187
106,534
1,056,861' 1,037,708
4,129
5,424
14,017
13,987'
3,927
2,750
2,682
2,599
60,427
59,246
60,137
52,499
1,886
1,972
8,522
7,997'
57,458
56,827
23,440
25,982
18,671
34,818
1,917
2,490
82,050
73,980
8,778
8,291
1,944
5,910
100,903
90,717
4,552
3,663'
461,697
474,185'
23,087
20,583
106
90
105,503
104,726
47 Europe
48 Austria
49
Belgium13
50
Denmark
51
Finland
52 France
53
Germany
54
Greece
55
Italy
56 Luxembourg13
57
Netherlands
58
Norway
59 Portugal
60
Russia
61
Spain
62
Sweden
63
Switzerland
64 Turkey
65
United Kingdom
66
Channel Islands and Isle of Man14
67
Yugoslavia15
68
Other Europe and other former U.S.S.R."'
653,988
2,818
9,536
5,106
1,693
40,399
34,650
2,975
5,568
31,945
10,839
18,879
3,574
23,146
14,039
4,647
132,895
12,131
185,970
47,594
301
65,283
781,550
4,826
9,359
3,631
1,783
40,719
46,806
1,264
6,215
35,855
15,857
22,429
952
41,673
9,902
7,082
110,626
13,748
332,528
20,802
162
55,331
1,036,948' 1,055,225
4,473
4,104
16,303
15,875
5,709
1,877
2,398
1,766
51,694
49,124'
54,855
52,123
1,063
1,424
7,741
7,900
56,183
51,384'
20,502
17,462
21,084
20,739'
2,345
2,093
85,162
85,022
12,479
9,359
4,086
3,948
105,827'
100,720
6,787
7,998
478,960
477,591
25,593'
23,197
103
104
96,847'
98,169
27,323
35,590
32,949
32,382
34,458
32,786
33,906'
37,724
31,500'
36,632
70 Latin America
71
Argentina
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru
80
Uruguay
81
Venezuela
82
Other Latin America17
107,357
10,878
10,040
6,146
4,158
2,299
1,379
36,109
3,864
1,363
2,815
21,939
6,367
110,566
9,758
16,283
4,438
4,235
2,567
1,547
35,389
4,093
1,401
3,670
21,222
5,963
135,888
10,813
15,186
7,299
6,263
2,676
1,526
50,545
4,506
1,968
4,150
24,573
6,383
126,090
10,961
17,255
7,359
6,204
2,666
1,492
37,581
4,499
2,305
4,019
25,339
6,410
127,872
9,327
20,865
7,078
6,180
2,587
1,466
37,999
4,667
1,556
3,897
25,520
6,730
133,156
9,421
23,642
6,611
6,304
2,470
1,308
40,694
4,975
1,796
3,951
24,984
7,000
129,145
9,221
19,726
8,318
6,059
2,654
1,361
38,870
4,382
2,484
4,079
24,754
7,237
130,634'
9,813
19,077
8,394
5,968
2,749
1,403
38,374
4,848
3,280
4,436
24,996
7,296'
131,654
9,626
17,811
6,924
5,575
2,499
2,044
41,611
4,610'
2,957'
4,927
25,386
7,684
128,078
9,987
15,140
6,879
6,029
2,927
1,959
38,055
4,773
3,469
4,879
26,428
7,553
83 Caribbean
84
Bahamas
85
Bermuda
86
Cayman Islands15
87
Cuba
88 Jamaica
89
Netherlands Antilles
90 Trinidad and Tobago
91
Other Caribbean"
837,666
163,543
24,674
630,446
91
829
5,004
1,405
11,674
969,986
153,554
38,964
739,204
96
669
8,689
1,253
27,557
1,195,643
185,252
92,510
869,642
110
829
5,863
1,624
39,813
1,139,512
178,312
69,251
852,190
110
815
5,499
1,773
31,562
1,137,230
185,344
68,469
841,666
776
4,515
1,785
34,564
1,136,960
179,199
56,332
857,002
113
818
5,875
1,953
35,668
92 Asia
China
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea (South)
Philippines
Thailand
Middle Eastern oil-exporting countries19
Other
319,487
373,024
419,231
410,062
384,240
375,743
409,459'
419,572'
393,222'
390,015
15,483
18,693
33,066
7,951
14,123
7,477
161,667
8,968
1,811
7,605
16,365
26,278
13,236
26,808
49,557
14,534
14,373
12,223
162,003
12,647
1,683
7,226
23,626
35,108
52,761
26,488
42,576
11,151
5,903
11,211
165,846
12,421
2,949
11,355
38,247
38,323
57,775
26,016
36,987
12,339
7,165
11,923
155,157
15,632
2,474
12,305
41,478
30,811
36,486
27,454
38,700
14,312
5,706
12,469
152,006
14,451
2,514
12,150
40,988
27,004
36,036
23,796
37,790
14,521
2,864
10,991
151,463
20,127
2,432
11,182
36,899
27,642
67,332'
24,554
41,173'
14,561
3,673
9,261'
149,401
19,422
2,302
10,972'
38,334'
28,474
71,189
23,596
43,435'
13,404
3,406
8,343
151,703
18,279
2,228'
13,986
40,423
29,580
59,019
22,071
41,978'
12,963
2,462
7,779
148,795
15,695'
2,475
10,316
39,411'
30,258'
51,335
19,938
43,290
14,178
2,650
8,104
150,799
17,047
2,420
9,681
40,960
29,613
105 Africa
106
Egypt
107
Morocco
108
South Africa
109
Congo (formerly Zaire)
110
Oil-exporting countries20
111
Other
12,251
2,655
306
1,114
4,370
3,804
13,828
2,336
376
3,715
18
3,498
3,885
14,557
2,711
156
3,284
4
4,326
4,076
16,593
4,239
159
3,708
21
4,939
3,527
16,597
4,156
124
3,105
49
5,417
3,746
16,617
4,180
172
3,299
10
5,266
3,690
17,353
3,952
223
3,439
8
6,012
3,719
18,079
3,724
151
3,727
8
6,688
3,781
18,237
3,497
133
3,483
6
7,113
4,005
16,488
3,653
129
3,002
8
5,259
4,437
112 Other countries
113 Australia
114
New Zealand21
115 All other
14,049
11,991
1,796
262
16,913
14,020
2,465
428
26,887
22,953
3,429
505
26,803
22,219
4,105
479
19,563
16,635
2,418
510
24,782
21,767
2,627
28,362'
23,843
4,077
442'
27,885
23,574
3,510
801
29,199'
26,222
2,503'
474'
31,401
27,865
2,842
694
116 Nonmonetary international and regional organizations
117
International22
118 Latin American regional23
119
Other regional24
13,467
11,282
507
1,611
14,149
10,500
420
3,166
13,315
10,909
345
1,948
15,773
13,423
373
1,863
17,848
15,337
486
1,929
15,497
13,233
15,730'
11,792'
1,865'
2,007'
19,011'
15,227'
1,565'
2,146'
16,085
12,568
1,749
1,744
15,588
11,911
1,965
1,650
69 Canada
93
94
95
96
97
98
99
100
101
102
103
104
13. Before January 2001, data for Belgium-Luxembourg were combined.
14. Before January 2001, these data were included in data reported for the United
Kingdom.
15. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
16. Includes the Bank for International Settlements and the European Central Bank.
17. Before January 2001, data for "Other Latin America" and "Other Caribbean" were
combined in "Other Latin America and Caribbean."
18. Beginning January 2001, data for the Cayman Islands replaced data for the British
West Indies.
1,131,654' 1,174,809' 1,206,632' 1,215,483
189,934
201,697'
200,821
184,513
60,356'
62,147
56,358
63,819
870,735'
850,545'
920,358
906,419'
113
114
115
113
792
1,230
790
789
5,388
5,637
4,745
5,555
1,997
2,415
2,017
2,052
32,816
31,975
30,495'
31,728'
19. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
20. Comprises Algeria, Gabon, Libya, and Nigeria.
21. Before January 2001, these data were included in "All other."
22. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund.
23. Principally the Inter-American Development Bank.
24. Asian, African, Middle Eastern, and European regional organizations, except the Bank
for International Settlements, which is included in "Other Europe."
48
Federal Reserve Bulletin Statistical Supplement • September 2005
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.
1 Total, all foreigners
1,185,445
1,322,363
1,668,476
1,654,444
1,711,238
1,609,821
1,706,411'
1,713,192'
1,787,819'
1,789,743
2 Foreign countries
1,181,768
1,317,292
1,662,720
1,649,887
1,705,675
1,603,954
1,701,931'
1,707,509'
1,781,724'
1,782,478
487,004
3,603
6,044
1,109
8,518
47,705
22,481
477
3,753
3,407
23,133
13,885
2,226
877
5,371
15,889
126,958
2,112
176,953
17,457
0
5,046
591,018
4,819
6,910
2,814
8,160
63,719
25,811
238
7,310
5,512
21,415
17,666
2,106
1,233
2,295
15,269
78,716
2,149
268,822
43,099
0
12,955
804,886
4,591
7,888
912
11,839
90,006
25,835
94
16,904
5,866
22,101
25,516
1,576
1,089
8,451
17,027
114,166
2,542
403,995
26,878
0
17,610
783,226
4,831
6,857
698
9,720
94,159
25,888
116
16,129
6,638
17,982
22,080
1,697
1,025
13,218
15,127
104,535
2,649
395,998
24,962
0
18,917
823,512
4,623
12,639
2,500
9,139
90,810
29,772
127
15,409
3,567
17,536
20,452
1,773
1,108
12,623
14,659
119,622
2,487
421,041
25,571
0
18,051
753,632
5,027
12,155
409
12,553
83,570
31,143
88
18,211
3,736
17,317
12,401
1,302
1,162
14,770
14,644
87,231
2,561
387,451
28,860
0
19,041
812,601
5,180
17,239
646
9,989
93,339
36,102
102
22,635
3,741'
16,380'
22,016
1,359
1,154
15,998
14,418
113,234
2,665
388,146
28,414
0
19,844
810,347
4,425
14,898
734
9,303
99,244
28,114
121
19,940
3,961'
15,958'
15,664
1,533
1,093
15,662
11,967
110,289
2,713
406,227
28,506
0
19,995
848,502'
4,575'
13,378
914'
10,721
94,056
29,740'
121
19,675
3,711'
18,630'
25,171
1,482
959
12,132
13,278'
116,874
2,935
436,507'
26,723
0
16,920'
822,042
5,111
10,819
1,090
9,564
86,977
28,362
110
16,709
4,697
17,256
24,816
1,416
1,193
11,230
12,206
93,476
2,996
450,630
25,725
0
17,659
60,521
52,140
51,081
49,991
48,164
47,290
47,039
50,447
50,248'
53,655
51,111
2,090
15,449
6,906
2,665
596
860
13,781
1,924
1,477
411
2,512
2,440
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Italy
12 Luxembourg2
13
Netherlands
14
Norway
15 Portugal
16
Russia
17
Spain
18
Sweden
19
Switzerland
20
Turkey
21
United Kingdom
22
Channel Islands and Isle of Man3
23
Yugoslavia4
24
Other Europe and other former U.S.S.R.5
25 Canada
26 Latin America
27
Argentina
28
Brazil
29
Chile
30
Colombia
31
Ecuador
32
Guatemala
33
Mexico
34 Panama
35 Peru
36
Uruguay
37
Venezuela
38
Other Latin America1"
56,642
6,783
15,419
5,250
2,614
457
892
15,658
1,915
1,411
255
3,254
2,734
51,517
3,819
15,825
6,094
2,026
404
781
13,583
1,844
1,370
465
2,911
2,395
49,377
2,220
14,094
6,213
2,645
469
866
13,439
1,939
1,529
403
2,844
2,716
49,987
2,133
15,147
6,273
2,800
450
827
13,445
1,968
1,441
362
2,733
2,408
49,622
2,126
16,336
5,959
2,666
445
786
13,285
1,635
1,258
342
2,439
2,345
52,326
2,018
17,134
6,501
2,604
485
807
14,087
1,955
1,377
341
2,654
2,363
52,804
1,994
17,338
7,017
2,425
527
812
14,196
1,940
1,510
336
2,521
2,188
51,552
2,024
16,051
7,142
2,473
534
811
13,848
1,924
1,465
347
2,585
2,348
50,622'
1,999
14,919
6,509
2,527'
564
869
14,329
2,092
1,463
432
2,482
2,437'
39 Caribbean
40
Bahamas
41
Bermuda
42
Cayman Islands7
43
Cuba
44
Jamaica
45
Netherlands Antilles
46
Trinidad and Tobago
47
Other Caribbean8
475,896
95,584
9,902
359,259
0
321
6,690
889
3,251
492,705
73,709
14,889
391,524
0
377
6,629
665
4,912
603,080
80,202
33,301
475,290
0
351
5,554
755
7,627
605,342
79,874
25,793
484,388
0
305
5,983
657
8,342
631,353
96,860
31,005
487,437
0
274
5,697
666
9,414
594,875
85,035
28,081
465,679
0
391
5,701
684
9,304
628,174'
85,450
30,226
497,201
0
398
5,891
695
8,313'
630,874'
90,815
31,364
496,224
0
426
4,769
655
6,621'
667,833'
108,194
26,623
517,614'
0
433
4,878
734
9,357'
682,895
96,294
27,086
543,468
0
438
4,751
715
10,143
93,551
119,562
142,638
150,343
142,542
146,153
150,296'
153,551'
153,271'
163,004
1,057
3,766
7,258
1,235
1,270
4,660
47,600
11,118
2,137
1,167
7,952
4,331
4,134
9,659
7,190
1,588
838
5,122
62,059
11,395
1,693
989
6,782
8,113
9,265
10,590
5,623
2,117
555
1,333
82,201
15,531
973
1,144
7,020
6,286
11,985
12,102
6,946
2,085
490
2,729
13,897
944
1,268
5,032
5,877
12,191
11,387
3,642
2,117
525
4,732
84,064
12,633
854
1,332
4,259
4,806
13,184
12,227
3,364
2,379
506
4,029
80,805
15,681
829
1,316
5,177
6,656
11,103
11,847
6,787
2,201
536
3,227'
85,081
15,841
899
2,416
5,230
5,128
13,210
11,409
7,303
2,420
560
2,759'
85,462
13,603
806
2,982
6,540
6,497
10,514
10,497
7,753
2,315
548
1,757'
84,976'
15,622
906
5,621
6,647
6,115'
20,051
8,925
6,114
2,742
559
3,161
83,647
16,778
1,118
6,544
7,855
5,510
61 Africa
62 Egypt
63
Morocco
64
South Africa
65
Congo (formerly Zaire)
66
Oil-exporting countries9
67
Other
1,977
487
53
617
0
222
598
1,453
236
46
453
0
147
571
1,260
228
53
316
0
223
430
1,286
232
36
324
0
243
451
1,445
260
38
376
0
260
511
1,302
288
53
231
0
310
420
1,339
307
42
264
0
271
455
1,269
344
39
172
0
274
440
1,533
395
39
219
0
273
607
1,342
384
38
179
0
334
407
68 Other countries
69
Australia
70
New Zealand10
71
Allother
6,177
5,566
569
42
8,897
8,037
819
41
10,398
9,709
607
82
9,712
9,038
601
73
9,037
7,885
1,029
123
8,376
7,613
542
221
9,678
8,930
662
86
9,469
7,466
1,910
93
9,715
9,150
461
104
8,429
7,826
519
84
72 Nonmonetary international and regional organizations"
3,677
5,071
5,756
4,557
5,563
5,867
4,480
5,683
6,095
7,265
48 Asia
China
49
Mainland
50
Taiwan
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Thailand
59
Middle Eastern oil-exporting countries5
60
Other
1. Reporting banks include all types of depository institutions as well as bank/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border brokerage
balances.
2. Before January 2001, combined data reported for Belgium-Luxembourg.
3. Before January 2001, data included in United Kingdom.
4. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
5. Includes the Bank for International Settlements and the European Central Bank.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and Caribbean."
7. Beginning 2001, Cayman Islands replaced British West Indies in the data series.
8. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
9. Comprises Algeria, Gabon, Libya, and Nigeria.
10. Before January 2001, included in "All other."
11. Excludes the Bank for International Settlements, which is included in "Other Europe."
Bank-Reported Data
3.19
BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Payable in U.S. dollars
49
Reported by Banks in the United States1
Millions of dollars, end of period
2005
Type of claim
1 Total claims reported by banks
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
2002
2003
2004
Jan.
Feb.
1 654 444
79.548
1 187 147
387.749
1 711 238
76.022
1 219 107
416.109
Mar.
Apr.'
May'
1 706 411
84,473
1 207 266
414,672
1 713 192
73,984
1 217 901
421,307
June
July'
1,409,095
1,603,404
2,017,100'
1 185 445
52.198
970,357
162,890
1 322 363
57,897
980,099
284,367
1 668 476
77,385
1 192 427
398,664
223,650
80,269
281,041
135,939
72,196
63,107
9,799
348,624'
152,520'
94,183'
87,779'
14,142'
500,085
376
632,635
3,970
636,297
3,741
653,661
4,381
621,763
4,243
654,870
4,711
643,279
4,313
700,467
4,668
698,852
4,044
n .a.
892,340
5,328
816,574
934,166
4,758
1,027,113
1,116,919
6,452
1,007,954
1,112,860
6,084
1,047,112
1 130 987
5,910
977,905
1 081 276
6,775
1,040,055
1 131 197
8,331
1,057,269
1 139 536
7,517'
1,075,167'
1 229 564
9,992
1,076,855
1 232 664
161,585
344,753
473,671
466,685
498,555
469,947
510,007
517,891
520,670'
520,445
137,289
6,092
1,984,639'
1 609 821
74.061
1 145 209
390.551
2,157,811
374.818'
165,999'
87,606'
108,213'
13,000'
1 787 819'
82,357'
1 304 095'
401,367'
1 789 743
89,799
1 317 395
382,549
369,992
157,220
82,107
114,929
15,736
MEMO
11 Non-negotiable deposits7
12 Negotiable CDs7
13 Other short-term negotiable
14 Other claims7
15 Own foreign offices5
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 • September 2005
3.22
LIABILITIES TO FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
2002
Sept.
1 Total
66,679
67,664
83,240
83,240'
88,474'
104,940'
103,204'
108,339'
109,158
By type
2 Financial liabilities
3
Short-term negotiable securities' . .
41,034
n.a.
39,561
53,150
14,002
53,150'
14,002
58,042'
9,859
72,799'
10,868
73,818'
11,415
79,177'
11,759
76,065
10,053
39,148
39,148'
61,931'
62,403'
8,498
22,946
8,498
22,946
8,402
32,449
5,949
45,495
3,558
45,766
6,315
49,882
5,842
45,852
42,171'
30,628
1,730
7,998
17,883
1,660
1,357
43,617'
30,201
1,981
7,678
17,420
1,642
1,480
45,905'
33,272
2,399
9,067
18,337
1,564
1,905
42,618
33,447
2,296
11,159
16,548
1,379
2,065
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
14 Financial liabilities to unaffiliated
foreigners
Byy area or country
15 Europe
16
Belgium-Luxembourg
17
France
18
Germany
19
Netherlands
20
Switzerland
21
United Kingdom
n.a.
n.a.
18,763
22,271
n.a.
n.a.
n.a.
n.a.
n.a.
18,844
20,717
25,055
28,095
1,431
10,372
11,425
2,493
2,374
25,055'
28,095
1,431
10,372
11,425
2,493
2,374
33,896'
24,146
1,149
7,147
12,894
1,330
1,626
41,034
39,561
43,610
43,610'
45,095'
58,084'
57,142'
62,847'
52,835
31,806
154
2,841
2,344
1,954
94
22,852
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
34,832
709
3,543
3,531
284
517
23,886
30,976
528
2,133
3,015
284
524
22,004
45,810
539
2,092
3,699
320
298
28,992
43,134
677
2,290
3,335
340
431
28,166
38,690
775
1,349
2,911
363
514
29,225
36,330
590
1,550
5,276
413
282
26,024
MEMO:
22
Euro area3 . . .
8,798
9,855
7,768
9,579
955
591
1,239
1,239'
1,288'
1,527'
1,956'
2,433'
2,283
1,504
23
990
65
365
n.a.
31
4,235
0
711
242
n.a.
3,114
34
3
4,235
0
711
242
n.a.
3,114
34
3
8,115
0
3,604
291
n.a.
3,910
28
0
6,093
0
2,300
200
n.a.
3,483
25
0
7,297
0
2,382
185
n.a.
4,591
24
22
16,196
0
8,715
208
n.a.
7,178
26
18
9,076
0
801
263
n.a.
7,871
30
11
24
25
26
27
28
29
30
31
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,858
157
960
35
1,627
32
33
34
Asia
Japan
Middle Eastern oil-exporting countriesf
5,042
3,269
10
2,932
1,832
14
2,547
1,826
36
2,547
1,826
36
4,519
1,431
29
4,487
1,612
24
4,589
1,664
30
4,724
1,648
36
4,347
1,365
33
35
36
Africa
Oil-exporting countries6
53
5
131
91
123
92
123
92
126
93
118
93
119
93
131
94
132
95
37
All other7
36
2
Nonbank-Reported Data
3.22
LIABILITIES TO FOREIGNERS
the United States—Continued
51
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.
38 Commercial liabilities
39
Trade payables
40
Advance payments and other liabilities .
41
42
43
44
45
46
47
48
49
50
51
52
53
54
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial liabilities
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
25.645
11,781
13,864
28,103
14,699
13,404
30,090
17,174
12,916
30,090
17,174
12,916
30,432
17,484
12,948
32,141
18,386
13,755
29,386
18,362
11,024
29,162
18,181
10,981
33,093
21,658
11,435
24,162
1,483
n.a.
n.a.
n.a.
n.a.
n.a.
26,243
1,860
27,632
2,458
199
787
606
209
657
27,632
2,458
199
787
606
209
657
28,178
2,254
196
699
513
223
623
29,662
2,479
183
729
593
255
719
26,090
3,296
241
1,030
600
302
1,123
25,811
3,351
224
1,058
704
296
1,069
29,870
3,223
200
1,026
634
314
1,049
9,219
99
734
905
1,163
790
2,279
8,257
141
765
781
590
433
2,649
9,821
159
900
855
384
1,367
3,025
9,821
159
900
855
384
1,367
3,025
8,943
145
1,017
1,018
303
543
3,023
9,719
135
1,092
1,275
289
638
3,035
8,843
133
1,050
1,021
315
616
3,127
9,030
123
1,019
1,024
305
564
3,407
10,084
100
1,290
955
320
740
3,576
MEMO
Euro area3
5,141
56
Canada
1,622
1,588
2,166
2,166
2,337
2,533
1,995
2,145
2,140
57
58
59
60
61
62
63
64
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,727
52
591
290
45
n.a.
899
166
3,073
51
538
253
36
n.a.
1,170
177
3,406
14
513
233
n.a.
40
1,298
329
3,406
14
513
233
1,298
329
3,916
16
647
226
n.a.
77
1,362
389
4,388
39
801
167
n.a.
32
1,755
481
4,317
35
635
98
n.a.
29
1,925
477
4,276
32
515
113
n.a.
101
1,942
433
4,895
66
511
97
n.a.
29
2,154
640
65
66
67
Asia
Japan
Middle Eastern oil-exporting countries-
10,517
2,581
2,639
13,382
4,292
3,979
13,311
4,370
3,148
13,311
4,370
3,148
13,540
4,973
2,553
13,484
4,755
2,311
12,707
4,288
3,312
12,239
4,221
2,910
14,455
5,320
3,900
68
Africa
836
436
827
405
782
372
782
372
1,009
548
1,082
567
956
488
947
424
935
447
69
70
Oil-exporting countries'"
4,198
4,156
All other7
MEMO
71
Financial liabilities to foreign affiliates5 . . .
1. Data available beginning March 2003.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial liabilities to foreign affiliates
of insurance underwriting subsidiaries of bank/financial holding companies and other financial intermediaries. These data are included in lines 1-6 above.
52
Federal Reserve Bulletin Statistical Supplement • September 2005
3.23
CLAIMS ON FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
102,566
165,934
165,934
176,473
188,537
192,347
197,739
202,239
71,389
27,064
44,325
132,332
35,920
3,211
132,332
35,920
3,211
142,632
45,415
2,502
154,096
42,974
5,468
160,552
50,314
7,595
164,981
47,883
9,892
168,943
52,316
11,912
n.a.
51,486
157
93,201
157
93,201
6
94,715
129
105,654
70
102,643
103
107,206
94
104,715
n.a.
n.a.
69,208
3,253
69,208
3,253
67,343
5,602
66,849
19,073
64,968
17,685
59,683
24,034
64,386
12,737
122,879
9,453
912
2,776
3,242
831
1,692
122,879
9,453
912
2,776
3,242
831
1,692
132,701
9,931
1,254
2,425
3,722
892
1,638
117,735
36,361
1,400
8,534
13,992
7,952
4,483
124,592
35,960
1,278
13,129
9,618
7,829
4,106
121,909
43,072
1,329
20,651
9,219
7,345
4,528
125,119
43,824
7,216
17,593
7,687
6,111
5,217
67,347
67,347
80,256
92,499
101,867
110,517
115,412
28,970
391
3,049
2,859
2,789
617
11,438
28,970
391
3,049
2,859
2,789
617
11,438
32,331
1,256
3,113
4,573
2,293
618
13,193
46,343
1,206
4,375
3,151
2,974
453
23,575
47,040
292
3,620
2,299
3,149
585
26,641
48,714
2,177
1,452
5,386
7,389
978
23,982
54,240
2,651
3,177
7,126
7,692
845
25,828
1 Total
2
3
4
5
6
7
8
9
10
11
12
13
14
15
By type
Financial claims
Non-negotiable deposits
Negotiable securities
Of which:
Negotiable CDs1
Other claims
Of which:
Loans'
Repurchase agreements'
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
16 Financial claims on unaffiliated
foreigners
By area or country
17
Europe
18
Belgium-Luxembourg
19
France
20
Germany
21
Netherlands
22
Switzerland
23
United Kingdom
81,287
29,801
51,486
74,471
6,816
n.a.
n.a.
n.a.
n.a.
n.a.
65,070
6,319
26,118
625
1,450
1,068
2,138
589
16,510
29,018
722
3,247
4,245
3,648
383
10,663
MEMO:
24
25
17,281
Euro area3
Canada
26
27
28
29
30
31
32
33
34
35
36
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
37
38
Africa
Oil-exporting countries'"
39
All other7
6,193
5,013
5,311
5,311
5,278
4,533
5,825
6,412
11,361
41,201
976
918
2,127
32,965
n.a.
3,075
83
29,612
1,038
724
2,286
21,528
n.a.
2,921
104
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
35,284
646
1,034
1,967
n.a.
28,577
1,723
174
34,256
801
1,410
1,749
n.a.
27,613
1,706
135
42,091
1,346
1,063
1,833
n.a.
35,188
1,527
139
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
39,893
1,899
2,128
1,839
n.a.
31,162
1,727
164
6,430
1,604
135
5,358
1,277
79
5,317
1,194
158
5,317
1,194
158
5,650
978
138
5,976
1,011
121
5,633
1,050
138
6,840
993
137
7,990
1,268
133
414
49
395
25
419
12
419
12
391
13
238
8
306
8
290
16
1,115
1,322
1,096
1,638
1,993
International Statistics
3.23
53
CLAIMS ON FOREIGNERS Reported by Nonbanking Business Enterprises in
the United States—Continued
Millions of dollars, end of period
Type of claim, and area or country
Sept.
40 Commercial claims
41
Trade receivables
42
Advance payments and other claims
43
44
45
46
47
48
49
50
51
52
53
54
55
56
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial claims
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
31.795
27,513
4,282
31,177
26,385
4,792
33,602
28,651
4,951
33,602
28,651
4,951
33,841
28,623
5,218
34,441
29,915
4,526
31,795
27,357
4,438
32,758
29,272
3,486
33,296
28,750
4,546
29,393
2,402
26,481
4,696
n.a.
25,527
8,075
1,557
1,542
1,187
589
3,200
25,527
8,075
1,557
1,542
1,187
589
3,200
26,165
7,676
1,518
1,255
1,299
478
3,126
27,411
7,030
649
1,196
1,204
598
3,383
27,919
3,876
446
1,026
1,169
191
1,044
27,482
5,276
512
1,561
1,586
238
1,379
28,492
4,804
499
1,577
1,111
239
1,378
14,022
268
2,921
1,658
529
611
3,833
14,187
269
3,164
1,202
1,490
503
3,727
14,576
247
2,816
1,284
397
1,921
3,928
14,576
247
2,816
1,284
397
1,921
3,928
14,332
209
2,740
1,494
421
1,248
3,964
13,557
238
2,603
1,528
345
1,257
3,907
13,010
298
2,582
1,336
396
1,218
3,819
13,483
257
2,261
1,419
494
1,528
3,750
14,015
369
2,897
1,539
489
1,477
3,517
MEMO
57
58
Canada
59
60
61
62
63
64
65
66
67
68
69
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
70
Africa
71
72
8,580
Euro area3
Oil-exporting countries6
7,359
2,818
2,790
3,070
3,070
3,272
2,293
2,261
2,018
2,155
4,859
42
369
954
95
n.a.
1,391
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
n.a.
52
1,339
5,153
26
460
903
n.a.
52
1,339
230
5,516
35
739
1,002
n.a.
67
1,149
228
5,628
25
690
1,025
n.a.
66
1,244
252
6,141
58
766
905
n.a.
124
1,767
263
6,477
55
650
935
n.a.
160
2,018
319
6,521
42
591
1,052
n.a.
75
1,862
362
7,849
2,006
850
7,324
2,341
818
7,356
1,761
888
7,356
1,761
888
7,250
1,589
980
8,165
1,784
1,085
8,601
1,847
961
8,948
1,857
1,071
8,569
1,918
1,207
645
88
584
95
636
138
636
138
621
183
711
224
783
209
629
154
2,811
2,811
7
All other
4,087
240
1,147
MEMO
73
Financial claims on foreign affiliates5
1. Data available beginning March 2003.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial claims on foreign affiliates of
insurance underwriting subsidiaries of bank/financial holding companies and other financial
intermediaries. These data are included in lines 1-8 above.
54
Federal Reserve Bulletin Statistical Supplement • September 2005
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.July
Apr.
U.S. corporate securities
STOCKS
1 Foreign purchases
2 Foreign sales
3.104.232
3,069,495
3,966,975
3,939,087
2,453,089
2,416,899
327,975
314,684
331,122
328,213
376,568
374,895
34,770
28,028
36,235
13,287
2,909
1,673
2,885
21,399
6,208
-3,782
46
-2,120
684
91
11,659
-929
612
2,207
-2,224
258
-436
20,230
-874
-2,367
2,231
-1,179
15,331
-180
1,357
-687
6,481
-323
2,836
-41
1,011
17,017
2,667
-1,485
-1,123
344
8,094
154
5,900
8,471
1,133
4,063
-539
133
-482
9,124
2,316
118
-266
472
4,812
6
-685
3,375
464
1,031
334
71
-93
2,421,579
1,999,960
2,385,669
1,848,932
1,354,527
1,025,924
177,998
133,383
3 Net purchases, or sales (-)
4 Foreign countries
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
331,448
321,397
384,212
379,304
352,215'
352,102'
349,549
346,304
1,800
4,878
134
3,261
9,990
2,900
-994
-499
157
-12
2,851
50
320
-537
220
91
382
22
-131
595
-1,106
689
-31
-1,087
716
39
-12
1,453
93
-317
-784
58
-70
3,159
147
29
182
-244
1,613
43
560
1,318
9
-95
-341
-7
-66
2,057
236
-549
-526
183
1,582
-110
407
-4,221
-71
2,020
644
-1
-57
-167
1,691
-768
143
-590
-458
10
20
994
736
2,044
-141
-44
-322
-651
377
-505
-782
1,622
-3,022
116
5,290
6,089
-318
-711
-633
34
257
196,466
148,345
204,378
174,458
179,607
154,737
180,609'
137,214
227,565
152,675
187,904
125,112
10,051
BONDS 3
20 Foreign purchases
21 Foreign sales
23 Foreign countries
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
62,792
48,121
29,920
421,263
534,253
327,581
44,626
47,820
29,703
24,698
43,286'
74,542
62,906
211.786
4,790
2,293
2,289
7,263
133,875
19,772
4,071
94,041
3,281
106,370
32,290
1,663
51
256,258
7,369
12,124
1,929
6,972
160,243
6,477
12,095
106,843
4,702
151,845
77,905
512
1,998
158,395
7,116
10,110
2,301
659
100,959
7,213
7,400
57,230
2,565
97,490
36,521
106
4,395
14,340
-806
2,303
237
-296
8,502
693
935
14,608
55
14,620
6,046
33
35
27,719
1,000
1,437
22,746
1,588
1,331
201
412
15,366
1,149
1,284
224
260
5,241
1,428
-91
39
10,171
2,633
-654
144
-46
6,968
545
574
11,304
-15
2,579
3,248
10
75
17,895'
-189
4,154
438
886
4,986'
2,028
-31
9,346
390
14,917
7,411
55
714
42,169
2,038
1,355
544
994
29,676
2,897
2,288
3,877
1,124
24,078
8,689
-9
1,015
23,355
852
184
439
-314
15,243
152
1,305
12,504
328
24,218
9,548
53
1,143
2,484
1,022
-14,484
193,370
207,854
-3,630
135,311
138,941
-2,522'
169,751'
172,273'
-4,613
116,792
121,405
-4,770'
159,089'
163,859'
-9,999'
128,622
138,621'
-11,837
160,581
172,418
-1,235
147,335
148,570
-8,864
161,356
170,220
-5,095
111,749
116,844
536,737
22 Net purchases, or sales (-)
-977
20,218
-251
1,045
5,367
423
11,837
151
55
1,374
Foreign securities
-88,587
1,304,564
1,393,151
19,152
1,460,357
1,441,205
-83,591
1,663,966
1,747,557
-29,001
1,456,617
1,485,618
45 Net purchases, or sales (-), of stocks and bonds . .
-69,435
-112,592
46 Foreign countries
-68,941
-111,737
47
48
49
50
51
52
53
-15,264
6,263
-1,762
-56,918
-37,295
227
-1,487
-114,237
-1,321
14,418
-7,592
-20,640
1,591
-4,596
39 Stocks, net purchases, or sales (-) .
40
Foreign purchases
41
Foreign sales
42 Bonds, net purchases, or sales (-) .
43
Foreign purchases
44
Foreign sales
Europe
Canada
Latin America and Caribbean
Asia
Japan
Africa
Other countries
-62,852
1,130,861
1,193,713
-17,585
885,864
903,449
-80,437
-76,672
-57,142
4,510
-7,021
-9,251
-6,983
-638
-7,130
54 Nonmonetary international and
regional organizations
1. Before January 2001, data included in United Kingdom.
2. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
-3,765
-5,032
134,252
139,284
5,551
116,885
111,334
-15,343
152,462
167,805
1,436
129,170
127,734
519
-13,907
-18,114
-7,135'
-14,769'
-13,072
-13,959
649
-13,970
-18,020
-6,662 r
-11,729'
-12,984
-13,956
-2,294
805
1,076
1,145
269
115
-198
-6,708
636
-2,631
-4,235
-3,199
-107
-925
-12,647
363
-1,616
- 3 377
-2,808
80
-823
-4,984'
78
-1,357'
850
1,550
-39
-1,210
-9,452'
-199'
732'
231'
185
-153
-2,888
-15,651
1,497
707
1,390
1,318
-209
-718
-5,406
1,330
-3,932
-5,255
-4,298
-325
-368
-3,040
3. Includes state and local government securities and securities of U.S. government
agencies and corporations. Also includes issues of new debt securities sold abroad by U.S.
corporations organized to finance direct investments abroad.
Securities Holdings and Transactions
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
55
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.July
1 Total estimated
265,519
352,028
197,610
2 Foreign countries
265,462
351,309
195,497
50,592
1,809
10,895
881
434
434
4,888
34,892
1,256
-4,897
10,438
88,394
118
8,804
-575
-3,153
3,236
5,342
78,661
1,175
-5,214
16,098
89,744
-595
10,704
438
-2,838
1,916
-3,242
61,290
-139
22,210
14,060
17,116
293
8,860
7,963
181,097
146,521
-56
6,275
33,544
-15
21,963
11,596
214,774
166,377
677
-2,178
57
337
-53
3
4
5
6
7
8
9
10
11
12
13
Europe
Belgium2
Germany
Luxembourg2
Netherlands
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man3
Other Europe and former U.S.S.R
Canada
14
15
16
17
18
19
20
21
Latin America and Caribbean
Venezuela
Other Latin America and Caribbean
Netherlands Antilles
Asia
Japan
Africa
Other
22 Nonmonetary international and regional organizations
23
International
24 Latin American Caribbean regional
30,741
Apr.
May
July-
42,505
27,789
24,690
27,575
15,791
28,519
42,821
27,728
23,933
27,623
14,547
28,571
3,541
436
-1,602
-1,129
87
-1,557
264
7,095
2,478
15,478
16
-942
534
-444
570
2,277
10,464
361
2,642
3,135
-4,838
-907
2,745
-547
998
662
158
10,482
1,749
-20,178
593
20,751
164
4,263
1,293
-1,039
-96
-749
3,384
-159
13,690
4,012
20,235
97
515
-298
-1,302
994
-1,832
7,581
-62
14,542
-1,410
15,213
-51
-540
-724
-321
1,358
-1,019
16,165
-2,473
2,818
2,905
15,768
84
1,122
-256
872
-443
-2,164
14,771
181
1,601
2,347
55,633
60
56,623
-1,050
37,019
-5,161
209
-1,168
29,832
-51
29,937
-54
-8,681
-5,561
-217
-275
8,811
-18
8,152
677
15,002
2,345
497
-102
26,733
76
25,968
689
4,555
-1,815
741
-56
-3,910
-35
-4,246
371
3,865
7,017
-190
-595
5,389
-20
6,487
-1,078
3,493
-1,740
-149
65
-11,289
32
-11,294
-27
9,270
-5,644
-635
-917
67
76
1,619
-1,628
9,515
237
162
712
719
2
-26
2,113
1,834
-56
467
452
-14
-316
-282
-4
61
80
-4
757
283
9
-48
38
1,244
1,276
0
-52
-13
-35
265,462
103,838
161,624
351,309
201,140
150,169
195,497
44,925
150,572
30,274
7,630
22,644
42,821
11,273
31,548
27,728
-14,983
42,711
23,933
13,908'
10,025'
27,623
6,815'
20,808'
14,547
16,666
-2,119
28,571
3,616
24,955
-6,645
52
9,041
249
-1,626
-197
-699
-204
713
249
387
710
-1,400
-190
-1,105
-149
-18
-712
496
99
7,137
MEMO
25 Foreign countries
26
Official institutions
27
Other foreign
Oil-exporting countries
28 Middle East4
29 Africas
1. Official and private transactions in marketable U.S. Treasury securities having an
original maturity of more than one year. Data are based on monthly transactions reports.
Excludes nonmarketable U.S. Treasury bonds and notes held by official institutions of foreign
countries.
2. Before January 2001, combined data reported for Belgium and Luxembourg.
3. Before January 2001, these data were included in the data reported for the United
Kingdom.
4. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
5. Comprises Algeria, Gabon, Libya, and Nigeria.
56
Federal Reserve Bulletin Statistical Supplement • September 2005
3.28
FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE VALUE OF THE U.S. DOLLAR1
Currency units per U.S. dollar except as noted
2005
Item
2002
2003
2004
Feb.
Mar.
Apr.
May
June
July
77.38
2.5760
1.2359
8.2765
5.7554
1.2943
7.7984
43.64
107.19
3.8000
11.112
72.09
6.3147
1.6511
6.1469
1,010.07
99.671
7.0814
1.1954
31.480
39.521
189.61
2,144.60
76.63
2.4554
1.2555
8.2765
5.8628
1.2697
7.7914
43.41
106.60
3.8000
10.976
71.91
6.3656
1.6507
6.3267
1,001.84
99.791
7.2382
1.2172
31.265
39.801
185.59
2,144.60
76.67
2.4148
1.2402
8.2765
6.1247
1.2155
7.7755
43.52
108.75
3.8000
10.820
70.83
6.4936
1.6723
6.7396
1,012.46
99.946
7.6229
1.2665
31.347
40.917
181.77
2,144.60
75.24
2.3702
1.2229
8.2264
6.1943
1.2041
7.7751
43.43
111.95
3.7872
10.672
67.89
6.5783
1.6815
6.6966
1,036.56
100.283
7.8263
1.2945
31.886
41.700
175.07
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
54.37
2.9213
1.5704
8.2771
7.8862
0.9454
7.7996
48.63
125.22
3.8000
9.663
46.45
7.9839
1.7908
10.5176
1,250.31
95.773
9.7233
1.5567
34.536
43.019
150.25
1,161.19
65.24
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
58.22
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
163.47
1,613.43
73.65
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
66.43
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
183.30
1,886.13
78.12
2.5971
1.2401
8.2765
5.7195
1.3013
7.7994
43.58
104.94
3.8000
11.137
71.55
6.3960
1.6381
6.0001
1,023.11
99.273
6.9800
1.1918
31.498
38.446
188.71
1,915.20
78.48
2.7061
1.2160
8.2765
5.6488
1.3185
7.7994
43.59
105.25
3.8000
11.155
73.00
6.2116
1.6308
6.0328
1,007.78
99.390
6.8954
1.1756
31.106
38.594
190.43
2,124.65
Indexes4
NOMINAL
24 Broad (January 1997=100)s
25 Major currencies (March 1973=100)°
26 Other important trading partners (January
1997=100)7
126.66
105.98
119.08
93.00
113.55
85.36
109.59
81.81
108.93
80.89
109.92
82.23
110.44
83.34
111.62'
84.95
112.18
85.79
140.32
143.49
143.31
139.44
139.52
139.53
138.70
138.75'
138.65
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
29 Other important trading partners (March
1973=100)7
111.20'
110.57
104.46
97.56'
99.82'
90.60
96.31'
87.68'
96.21'
86.94'
97.57'
88.70'
97.84'
89.64'
99.00'
91.40'
99.69
92.69
121.57
123.22
121.89'
117.13'
118.11'
118.89'
118.10'
118.39'
118.21
1. Averages of certified noon buying rates in New York for cable transfers. Data in this
table also appear in the Board's G.5 (405) monthly statistical release, available at
www.federalreserve.gov/releases.
2. U.S. cents per currency unit.
3. The euro is reported in place of the individual euro area currencies. By convention, the
rate is reported in U.S. dollars per euro. The bilateral currency rates can be derived from the
euro rate by using the fixed conversion rates (in currencies per euro) as shown below:
Euro equals
13.7603
40.3399
5.94573
6.55957
1.95583
.787564
Austrian schillings
Belgian francs
Finnish markkas
French francs
German marks
Irish pounds
1,936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
4. Starting with the January 2004 Statistical Supplement to the Federal Reserve Bulletin,
revised index values resulting from the periodic revision of data that underlie the calculated
trade weights are reported. For more information on the indexes of the foreign exchange value
of the dollar, see Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
5. Weighted average of the foreign exchange value of the U.S. dollar against the currencies
of a broad group of U.S. trading partners. The weight for each currency is computed as an
average of U.S. bilateral import shares from and export shares to the issuing country and of a
measure of the importance to U.S. exporters of that country's trade in third country markets.
The source for exchange rates not listed in the table above but used in the calculation of this
index is Reuters Limited.
6. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that circulate widely outside the country of issue. The weight for each
currency is its broad index weight scaled so that the weights of the subset of currencies in the
index sum to one.
7. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that do not circulate widely outside the country of issue. The weight
for each currency is its broad index weight scaled so that the weights of the subset of
currencies in the index sum to one. The source for exchange rates not listed in the table above
but used in the calculation of this index is Reuters Limited.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title and Date
Issue
Page
Reference
Assets and liabilities of commercial banks
June 30, 2004
September 30,2004
December 31,2004
March 31,2005
June 30, 2005
November
February
March
June
September
2004
2005
2005
2005
2005
58
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks
August 2004
November 2004
February 2005
May 2005
November
February
May
August
2004
2005
2005
2005
60
60
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks
June 30, 2004
September 30,2004
December 31,2004
March 31,2005
November
February
May
August
2004
2005
2005
2005
66
66
64
64
Supplement
Supplement
Supplement
Supplement
August 2001
October 2001
January 2002
A76
A64
A64
Bulletin
Bulletin
Bulletin
Residential lending reported under the Home Mortgage Disclosure Act
1989-2001
1990-2002
1991-2003
September 2002
September 2003
September 2004
A58
A58
58
Bulletin
Bulletin
Supplement
Disposition of applications for private mortgage insurance
1998-2001
1999-2002
2000-2003
September 2002
September 2003
September 2004
A67
A67
67
Bulletin
Bulletin
Supplement
Small loans to businesses and farms
1996-2001
1996-2002
1997-2003
1998-2004
September
September
September
September
2002
2003
2004
2005
A70
A70
70
60
Bulletin
Bulletin
Supplement
Supplement
Community development lending reported under the Community Reinvestment Act
2001
2002
2003
2004
September
September
September
September
2002
2003
2004
2005
A73
A73
73
63
Bulletin
Bulletin
Supplement
Supplement
Pro forma financial statements for Federal Reserve priced services*
March 31,2001
June 30, 2001
September 30, 2001
*The pro forma financial statements for Federal Reserve priced services are no longer published in the Bulletin after the January 2002 issue.
The statements are in the Board's yearly Annual Report to the Congress (www.federalreserve.gov/boarddocs/rptcongress).
58
Federal Reserve Bulletin Statistical Supplement • September 2005
4.20
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities
Consolidated Report of Condition, June 30, 2005
Millions of dollars except as noted
Domestic
total
1 Total assets
2 Cash and balances due from depository institutions
3
Cash items in process of collection, unposted debits, and currency and coin
4
Cash items in process of collection and unposted debits
5
Currency and coin
6
Balances due from depository institutions in the United States
7
Balances due from banks in foreign countries and foreign central banks
8
Balances due from Federal Reserve Banks
9 Total securities, held-to-maturity (amortized cost) and available-for-sale (fair value)
10
U.S. Treasury securities
11
U.S. government agency and corporation obligations (excludes mortgage-backed
securities)
12
Issued by U.S. government agencies
13
Issued by U.S. government-sponsored agencies
14
Securities issued by states and political subdivisions in the United States
15
Mortgage-backed securities (MBS)
16
Pass-through securities
17
Guaranteed by GNMA
18
Issued by FNMA and FHLMC
19
Other pass-through securities
20
Other mortgage-backed securities (includes CMOs, REMICs, and stripped MBS)
21
Issued or guaranteed by FNMA, FHLMC or GNMA
22
Col later alized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA
23
All other mortgage-backed securities
24 Asset-backed securities
25 Credit card receivables
26
Home equity lines
27 Automobile loans
28 Other consumer loans
29
Commercial and industrial loans
30
Other
31
Other debt securities
32
Other domestic debt securities
33
Foreign debt securities
34
Investments in mutual funds and other equity securities with readily determinable
fair value
Banks with foreign offices'
Banks with
domestic
offices only2
8,574,505
7,608,727
5,936,676
4,970,899
2,637,829
375,536
262,705
n. a.
n. a.
n. a.
n. a.
n. a.
n. a.
286,141
136,282
n.a.
n.a.
32,096
105,808
11,956
173,310
131,359
103,416
27,944
23,688
6,378
11,885
89,395
1,540,794
49,477
n. a.
n. a.
991,249
34,302
549,544
15,175
251,294
10,418
240,876
116,361
896,860
603,327
32,283
552,125
18,919
293,533
155,824
11,124
126,586
74,490
14,502
25,478
10,632
5,155
6,857
11,866
139,299
46,958
92,341
n. a.
n. a.
n. a.
92,357
7,519
84,838
43,297
647,225
474,055
18,530
439,345
158,937
2,899
156,038
73,063
249,635
129,272
16,180
173,170
80,795
6,139
86,236
54,443
12,007
15,680
8,785
4,665
6,058
7,247
111,597
28,329
83,268
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
2,739
120,363
75,029
4,984
40,350
20,048
2,495
9,799
1,847
490
799
4,619
27,702
18,629
9,073
4,985
8,029
13,013
13,753
112,780
205,911
84,959
120,952
58,340
53,581
4,759
1,771,913
1,179
42,593
1,728,141
42,634
3,088,366
2,942,413
690
n.a.
n.a.
n.a.
n.a.
1,606,627
1,559,902
1,178,734
152,971
181,259
38,385
505,535
108,768
389,473
138,540
250,933
264,251
138,540
125,711
331,133
38 Total loans and leases (gross) and lease-financing receivables (net)
39 LESS: Unearned income on loans
40 LESS: Loans and leases held for sale
41 Total loans and leases (net of unearned income)
42 LESS: Allowance for loan and lease losses
43 Loans and leases, net of unearned income and allowance
5,045,307
2,906
183,260
4,859,142
67,900
4,791,242
4,714,326
1,869
n.a.
3,273,394
Total loans and leases, gross, by category
44 Loans secured by real estate
45
Construction and land development
46 Farmland
47
One- to four-family residential properties
48
Revolving, open-end loans, extended under lines of credit
2,785,362
n.a.
n.a.
n.a.
n.a.
2,738,636
334,230
46,220
1,577,113
434,755
7,836
1,071,578
325,987
n.a.
n.a.
n.a.
n.a.
149,699
n.a.
n.a.
n.a.
47,797
969,886
n.a.
n.a.
1,046,293
96,065
92,432
688,641
682,256
63,335
42,473
285,044
8,859
364,037
32,730
49,959
403,597
4,778
n.a.
n.a.
n.a.
36,071
276,205
n.a.
n.a.
774,259
305,232
39,387
429,640
691,589
274,300
26,955
390,334
538,400
196,726
35,483
306,191
455,730
165,795
23,051
266,885
235,859
108,505
3,904
123,449
28,951
19,070
138,230
6,732
131,498
19,069
101,104
3,160
97,944
20,186
77,758
107,126
9,882
16,359
28
16,331
n.a.
n.a.
14,026
35 Federal funds sold and securities purchased under agreements to resell
36 Federal funds sold in domestic offices
37
Securities purchased under agreements to resell
66
67
68
69
70
71
Closed-end loans secured by one- So four-family residential properties
Secured by first liens
Secured by junior liens
Multifamily (five or more) residential properties
Nonfarm nonresidential properties
Loans to depository institutions and acceptances of other banks
Commercial banks in the United States
Other depository institutions in the United States
Banks in foreign countries
Loans to finance agricultural production and other loans to farmers
Commercial and industrial loans
U.S. addressees (domicile)
Non-U.S. addressees (domicile)
Loans to individuals for household, family, and other personal expenditures (includes
purchased paper)
Credit cards
Other revolving credit plans
Other consumer loans (including single-payment, installment, and all student loans)
Obligations (other than securities) of states and political subdivisions in the United States
(includes nonrated industrial development obligations)
All other loans
Loans to foreign governments and official institutions
Other loans
Loans for purchasing and carrying securities
All other loans (excludes consumer loans)
Lease-financing receivables
72
73
74
75
76
77
78
79
80
81
Trading assets
Premises and fixed assets (including capitalized leases)
Other real estate owned
Investments in unconsolidated subsidiaries and associated companies
Customers' liability on acceptances outstanding
Net due from own foreign offices, Edge Act and agreement subsidiaries, and IBFs
Intangible assets
Goodwill
Other intangible assets
All other assets
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
28,951
154,589
6,760
147,829
n.a.
n.a.
134,765
523,917
88,338
3,674
9,844
5,224
n.a.
279,417
210,377
69,040
383,785
84,959
246,174
1,727
140,667
3,131,001
132,178
47,278
837,081
117,463
3,188
114,275
144,921
68,449
53,665
22,807
11,726
693,681
561,484
132,198
120,739
n.a.
n.a.
n.a.
n.a.
n.a.
507,409
50,375
1,384
9,310
4,988
n.a.
223,736
165,965
57,771
301,918
127,400
67,855
53,665
5,880
11,207
560,876
552,016
n.a.
53,943
25,266
1,702,876
16,508
37,964
2,290
535
236
n.a.
55,681
44,412
11,269
81,867
Special Tables
4.20
59
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities—Continued
Consolidated Report of Condition, June 30, 2005
Millions of dollars except as noted
Domestic
total
83 Total liabilities
91
92
93
94
95
96
97
Total transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks) . . . .
98
Total demand deposits
99
100
101
102
103
104
105
Total nontransaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks)
Banks with
domestic
offices only2
5,936,676
82 Total liabilities, minority interest, and equity capital
84 Total deposits
85
Individuals, partnerships, and corporations (include all certified and official checks) . . . .
86
U.S. government
87
States and political subdivisions in the United States
88
Commercial banks and other depository institutions in the United States
89
Banks in foreign countries
90
Foreign governments and official institutions (including
foreign central banks)
Banks with foreign offices'
5,739,444
5,175,766
97,447
169,918
6,724,548
5,346,577
4,380,799
2,343,748
4,844,812
4,517,400
3,478
241,955
62,041
18,302
3.819.196
3,409,828
n.a.
n.a.
72.499
169,623
2,924,565
2,751,461
2,693
113,683
37,093
18,008
1.920.248
1,765,938
785
128,272
24,948
294
1,637
50,399
n.a.
n.a.
n.a.
1,627
10
397,502
327,342
1,397
35,968
26,068
6,062
664
345,534
303,183
388
35 634
6,222
n.a.
n.a.
n.a.
n.a.
743,036
630,525
1,786
71,603
32,289
6,160
673
542,633
323,598
219,035
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4,101,777
3,886,874
1,692
170,352
29,751
12,142
964
2,527,063
2,424,119
1,296
77,714
11,025
11,946
963
1,574,714
1,462,756
397
92,638
18,726
197
1
106 Federal funds purchased and securities sold under agreements to repurchase
107
Federal funds purchased in domestic offices
108
Securities sold under agreements to repurchase
109 Trading liabilities
110 Other borrowed money (includes mortgage indebtedness and obligations under capitalized
leases)
111 Banks' liability on acceptances executed and outstanding
112 Subordinated notes and debentures to deposits
113 Net due to own foreign offices, Edge Act and agreement subsidiaries, and IBFs
114 All other liabilities
115 Minority interest in consolidated subsidiaries
610,143
200,020
410,123
260,080
545,689
200,020
345,669
483.941
147,372
336,569
258,774
419,487
147,372
272,115
n.a.
126,201
52,647
73,554
1,306
724,210
5,291
114,263
n.a.
236,894
12,460
644,734
3,386
472,139
5,054
107,262
n.a.
200.210
11,003
392.662
3,150
n.a.
270,280
n.a.
n.a.
252,071
237
7,001
n.a.
36,684
1,458
116 Total equity capital
871,719
579,097
n.a.
292,623
MEMO
117 Trading assets at large banks2
118
U.S. Treasury securities (domestic offices)
119
U.S. government agency obligations (excluding MBS)
120
Securities issued by states and political subdivisions in the United States
121
Mortgage-backed securities
122
Other debt securities
123
Other trading assets
124 Trading assets in foreign offices
125
Revaluation gains on interest rate, foreign exchange rate, and other
commodity and equity contracts
126 Total individual retirement (IRA) and Keogh plan accounts
127 Total brokered deposits
128 Fully insured brokered deposits
129
Issued in denominations of less than $100,000
130
Issued in denominations of $100,000, or in denominations greater than $100,000 and
participated out by the broker in shares of $100,000 or less
131 Money market deposit accounts (MMDAs)
132 Other savings deposits (excluding MMDAs)
133 Total time deposits of less than $100,000
134 Total time deposits of $100,000 or more
135 Number of banks
NOTE. The notation "n.a." indicates the lesser detail available from banks that do not have
foreign offices, the inapplicability of certain items to banks that have only domestic offices, or
the absence of detail on a fully consolidated basis for banks that have foreign offices.
1. All transactions between domestic and foreign offices of a bank are reported in "net due
from" and "net due to" lines. All other lines represent transactions with parties other than the
domestic and foreign offices of each bank. Because these intra-office transactions are nullified
by consolidation, total assets and total liabilities for the entire bank may not equal the sum of
assets and liabilities, respectively, of the domestic and foreign offices.
523.823
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
193,880
260.738
28,998
9.137
5,172
12,292
71,165
50,611
0
507,407
244,321
28,711
8,565
4,955
9,261
59,371
50,150
0
16,416
287
572
217
3,031
11,794
461
0
152.568
n.a.
n.a.
n.a.
n.a.
83,362
169,294
304,842
180,499
72,193
152,514
83,309
74,289
166,343
75,935
45,798
53
95,004
138,499
104,564
26,396
30,137
1,349,486
436,513
307,443
433,621
78,168
571,000
267,106
401,673
334,935
n.a.
n.a.
n.a.
n.a.
n.a.
108,305
1,920,486
703,618
709,116
768.556
7,528
Foreign offices include branches in foreign countries, Puerto Rico, and US.-affiliated
insular areas; subsidiaries in foreign countries; all offices of Edge Act and agreement
corporations wherever located; and international banking facility (IBF).
2. Components of "Trading Assets at Large Banks" are reported only by banks that
reported trading assets of $2 million or more any quarter of the preceding calendar year.
60
Federal Reserve Bulletin Statistical Supplement • September 2005
4.46
SMALL LOANS TO BUSINESSES AND FARMS, 1998-2004
Company
Total business loans
1 Number
2 Amount (thousands of dollars)
Percent to small firms'
3
Number
4
Amount
Total farm loans
5 Number
6 Amount (thousands of dollars)
Percent to small farms'
7
Number
8
Amount
11
12
Activity ofCRA reporters (percent)2
All small loans to businesses
Number
Amount
All small loans to farms2
Number
Amount
13
14
15
16
Distribution of business loans
by asset size of lender
Number (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
9
10
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
Total
Amount (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
Total
Distribution of farm loans
by asset size of lender
Number (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
Total
Amount (percent)
Less than 100
100 to 249
250 to 999
1,000 or more
Total
Distribution of business loans
by income of census tract3
Number
Low
Moderate
Middle
Upper
Income not reported
Total
Amount
Low
Moderate
Middle
Upper
Income not reported
Total
19984
2 736 389
161,211,231
54.5
47.0
206,267
11,373,691
20014
2000
1999
3,287,974
174,538,571
5,110,001
179,056,204
60.2
48.5
220,587
12,302,881
6,094,606
224,914,485
41.7
45.9
204,318
11,634,880
2002
43.7
45.6
235,417
14,330,467
2003
7,556,999
253,225,288
31.0
44.2
256,117
16,222,070
2004
8,004,463
278,612,596
37.8
45.8
288,739
17,297,590
8,111,492
293,745,569
37.6
44.2
292,451
18,141,412
90.4
83.0
90.6
83.7
90.2
83.8
90.0
83.6
88.5
83.0
88.8
83.0
84.4
77.6
67.8
69.4
67.8
72.4
83.7
75.6
84.0
75.0
88.0
76.9
90.5
77.1
78.4
74.1
24.9
30.1
28.0
34.1
30.6
37.5
32.3
38.2
32.2
38.1
33.3
38.5
36.0
39.0
1.9
5.5
1.0
1.4
15.9
81.8
0.5
0.8
18.8
79.8
0.4
13.8
13.2
72.6
0.1
0.5
25.1
74.3
0.1
0.4
12.5
86.9
0.1
0.5
9.9
89.6
72.3
100
0.8
3.2
22.7
73.3
100
4.9
8.2
38.7
48.2
100
3.5
6.6
36.0
53.9
100
4.3
15.5
49.5
30.3
0.5
100
5.2
15.7
46.8
31.6
0.7
100
1.0
2.2
21.6
75.2
100
4.9
6.6
37.7
50.8
100
4.0
5.6
36.3
54.1
100
3.6
14.6
50.1
31.2
0.4
100
5.0
15.5
47.1
31.7
0.7
100
0.6
2.0
23.0
74.4
100
2.2
4.8
46.7
46.3
100
1.7
4.0
42.7
51.5
100
3.6
14.6
50.2
31.2
0.4
100
4.9
15.4
47.6
31.5
0.5
100
1.0
2.7
21.8
74.5
100
1.2
3.4
42.7
52.6
100
0.9
2.8
38.8
57.5
100
4.0
15.2
50.1
30.3
0.4
100
4.9
15.2
47.6
31.7
0.6
100
0.4
1.6
23.6
74.4
100
1.0
2.5
49.1
47.4
100
0.7
2.3
43.2
53.8
100
3.7
15.2
50.5
30.3
0.4
100
4.7
15.2
47.9
31.7
0.6
100
0.4
1.5
22.6
75.6
100
1.5
2.5
44.2
51.8
100
1.2
2.4
44.6
51.8
100
3.6
17.0
47.6
31.6
0.2
100
4.4
17.9
45.4
31.9
0.4
100
0.3
1.0
20.6
78.1
100
0.7
3.5
44.6
51.1
100
0.7
3.0
44.0
52.3
100
3.5
16.7
47.7
32.0
0.2
100
4.3
17.8
45.1
32.4
0.4
100
100
100
100
100
100
100
1,576
290
1,450
461
1,471
470
1,443
469
1,495
491
1,635
468
1,658
341
1,866
1,911
1,941
1,912
1,986
2,103
1,999
MEMO
45
46
47
Number of reporters
Commercial banks
Savings institutions
Total
1. Businesses and farms with revenues of $1 million or less.
2. Percentages reflect the ratio of activity by CRA reporters to activity by all lenders.
Calculations based on information reported in the June Call Reports except that calculations
for savings associations are based on information reported in the June Thrift Financial
Reports.
3. Low income: census tract median family income less than 50 percent of metropolitan
area median family income or nonmetropolitan portion of state median family income;
moderate income: 50-79 percent; middle income: 80-120 percent; upper income: 120 percent
or more. Excludes loans where census tract was not reported.
4. Revised to reflect correction of reported data.
SOURCE: FFIEC
Loans to Businesses and Farms
4.47
61
ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESSES AND FARMS, 2004
By Size of Loan
MEMO
Size of loan (dollars)
Loans to firms
All oans
Type of borrower and loan
100,000 or less
Total
Percent
Total
of$l million
or ess
More tha l 250,000
100,001 to 250,000
Percent
Total
Percent
Total
Percent
Total
Percent
Number of loans
Business
2 Purchases
7,455,374
84,833
93.0
89.3
288,118
4,878
3.6
5.1
273,020
5,269
3.4
5.5
8,016,512
94,980
100
100
3,016,039
31,190
37.6
32.8
3
7,540,207
93.0
292,996
3.6
278,289
3.4
8,111,492
100
3,047,229
37.6
5 Purchases
238,710
2,258
82.4
77.6
36,049
426
12.5
14.6
14,783
225
5.1
7.7
289,542
2,909
100
100
245,952
990
84.9
34.0
6
240,968
82.4
36,475
12.5
15,008
5.1
292,451
100
246,942
84.4
7,694,084
87 091
92.6
89 0
324,167
5 304
3.9
54
287,803
5 494
3.5
56
8,306,054
97 889
100
100
3,261,991
32 180
39.3
32 9
7,781,175
92.6
329,471
3.9
293,297
3.5
8,403,943
100
3,294,171
39.2
Total
Farm
Total
All
7 Originations
9
Total
Amount of loans (thousands of do lars)
Business
10 Originations
11 Purchases
93,555,702
2,112,811
32.5
37.7
50,628,566
846,251
17.6
15.1
143,959,826
2,642,413
50.0
47.2
288,144,094
5,601,475
100
100
128,919,003
830,955
44.7
14.8
12
95,668,513
32.6
51,474,817
17.5
146,602,239
49.9
293,745,569
100
129,749,958
44.2
14 Purchases
6,459,332
73,522
36.1
32.1
6,054,482
72,022
33.8
31.5
5,398,831
83,223
30.1
36.4
17,912,645
228,767
100
100
14,000,690
81,332
78.2
35.6
15
6,532,854
36.0
6,126,504
33.8
5,482,054
30.2
18,141,412
100
14,082,022
77.6
17 Purchases
100,015,034
2,186,333
32.7
37.5
56,683,048
918,273
18.5
15.8
149,358,657
2,725,636
48.8
46.7
306,056,739
5,830,242
100
100
142,919,693
912,287
46.7
15.6
18
102,201,367
32.8
57,601,321
18.5
152,084,293
48.8
311,886,981
100
143,831,980
46.1
Total
Farm
Total
All
Total
SOURCE: EFIEC
62
Federal Reserve Bulletin Statistical Supplement • September 2005
4.48
ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESSES AND FARMS, 2004
By Type of Borrower and Loan, Distributed by Size of Lending Institution
Institutions, by asset s ze (millions of dollars)
All institutions
Type of borrower and loan
Less than 100
Total
Percent
250 to 999
100 to 249
Total
Percent
Total
1,000 or more
Percent
Total
Percent
Total
Percent
10.0
2.5
7,172,147
92,252
89.5
97.1
8,016,512
94,980
8,751
37,100
0.5
801,242
9.9
7,264,399
89.6
8,111,492
2,143
5
9,960
364
3.4
12.5
129,767
768
44.8
26.4
147,672
1,772
51.0
60.9
289,542
2,909
2,148
10,324
3.5
130,535
44.6
149,444
51.1
292,451
46,900
524
0.6
0.5
928,675
3,102
3.2
7,319,819
94,024
88.1
96.1
8,306,054
97,889
47,424
0.6
931,777
11.1
7,413,843
88.2
8,403,943
All
8 Purchases
10,660
239
9
10,899
Total
o o o
o o o
Total
798,908
2,334
o o o
o o o
6
0.5
0.2
o o o
Total
Farm
4 Originations
36,940
160
o o o
3
8,517
234
o o o
Business
1 Originations
o o o
o o o
Number of loans
Amount of loans (thousands of dollars)
1.0
0.6
59,939,490
478,929
20.8
8.6
224,432,686
5,014,369
77.9
89.5
288,144,094
5,601,475
12
966,670
0.3
2,913,425
1.0
60,418,419
20.6
229,447,055
78.1
293,745,569
121,433
1,223
0.7
0.5
520,661
26,416
2.9
11.5
7,910,101
77,075
44.2
33.7
9,360,450
124,053
52.3
54.2
17,912,645
228,767
122,656
0.7
547,077
3.0
7,987,176
44.0
9,484,503
52.3
18,141,412
1,014,118
75,208
0.3
1.3
3,399,894
60,608
1.1
1.0
67,849,591
556,004
22.2
9.5
233,793,136
5,138,422
76.4
88.1
306,056,739
5,830,242
1,089,326
0.3
3,460,502
1.1
68,405,595
21.9
238,931,558
76.6
311,886,981
Total
Farm
13 Originations
15
Total
All
16 Originations
18
Total
MEMO
19 Number of institutions reporting
20 Number of institutions extending loans . .
SOURCE: FFIEC
79
74
135
132
1,254
1,219
531
484
1,999
1,909
o o o
o o o
2,879,233
34,192
o o o
o o o
0.3
1.3
- ..
892,685
73,985
o o o
o o o
Business
11 Purchases
Community Reinvestment
4.49
COMMUNITY DEVELOPMENT LENDING, 2004
Amount of loans
(thousands of dollars)
Number of loans
MEMO: CRA reporters
Asset size of lender
(millions of dollars)
1
2
3
4
5
63
Institution assets
Less than 100
100 to 249
250 to 999
1,000 or more
All
Community development loans
Total
Percent
Total
Percent
Number
Percent
93
251
9.071
28,954
38.369
0.2
0.7
23.6
75.5
100.0
89,664
154,979
4,631,811
46,292,840
51,169,294
0.2
0.3
9.1
90.5
100.0
79
135
1,254
531
1,999
4.0
6.8
62.7
26.6
100.0
490
1.3
1,667,056
3.3
Number
extending
Percent
extending
50
767
441
1,280
1.7
3.9
59.9
34.5
100.0
20
1.6
MEMO
6 Lending by all affiliates
SOURCE: FFIEC
64
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21, 58-59
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21, 58-59
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Business and farms, loans to, 60-62
Commercial banks, 15-21, 58-59
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21, 58-59
Commercial and industrial loans, 15-21, 58-59, 60-62
Consumer loans held, by type and terms, 34
Real estate mortgages held, by holder and property, 33
Time and savings deposits, 4
Commercial paper, 22, 23, 30
Community development loans, under CRA, 63
Condition statements (See Assets and liabilities)
Consumer credit, 34
Corporations
Security issues, 29, 55
Credit unions, 34
Currency in circulation, 5, 13
Customer credit, stock market, 24
DEBT (See specific types of debt or securities)
Demand deposits, 15-21
Depository institutions
Reserve requirements, 8
Reserves and related items, 4—6, 12
Deposits (See also specific types)
Commercial banks, 4, 15-21, 58-59
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
EURO, 56
FARM mortgage loans, 33, 60-62
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 currency operations, 10
Foreign deposits in U.S. banks, 5
Foreign exchange rates, 56
Foreign-related institutions, 20
Foreigners
Claims on, 45, 48^19, 52-53
Liabilities to, 45^17, 50-51, 54, 55
GOLD
Certificate account, 10
Stock, 5, 45
Government National Mortgage Association, 28, 32, 33
INDUSTRIAL production, 42, 43
Insurance companies, 25, 33
Interest rates
Bonds, 23
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22
International capital transactions of United States, 44—55
International organizations, 45, 46^17, 48, 50-55
Investment companies, issues and assets, 30
Investments (See also specific types)
Commercial banks, 4, 15-21, 58-59
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Business, 60-62
Commercial banks, 15-21, 58-59
Community development, 63
Farms, 60-62
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
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
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
Retail credit and retail sales, 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, 58-59
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44-55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting banks, 17, 18
YIELDS (See Interest rates)
65
@FedFRASER