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Volume 4 • Number 9 • September 2007
Statistical Supplement
M to the
tne Federal
t eaeral Keserve
Reserve
£ BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Rosanna Pianalto Cameron, Chair • Scott G. Alvarez • Sandra Braunstein • Roger T. Cole
• Marianne M. Emerson • Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus
• Vincent R. Reinhart • Louise L. Roseman • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin (1914-2003).
The Statistical Supplement began publication in
2004. It is designed as a compact source of economic
and financial data. All statistical series are published
with the same frequency that they had in the Bulletin,
and the numbering system for the tables remains the
same.
Subscription information for the Statistical Supplement is on the inside front cover. For subscription
information about the Bulletin, contact Publications
Fulfillment at (202) 452-3245, or send an e-mail
to publications-bog@frb.gov. The Supplement is
also available on the Board's website, at
www.federalreserve.gov/pubs/supplement.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886, or send an e-mail
to publications-bog@frb.gov.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of September 2007.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Factors affecting reserve balances of depository
institutions
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—State and local governments
29 New security issues—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 2007
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 and indexes of the foreign
exchange value of the U.S. dollar
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Terms of lending at commercial banks,
June 30, 2007
60 Small loans to businesses and farms, 2006
63 Community development lending reported under the
Community Reinvestment Act, 2006
64 INDEX TO STATISTICAL TABLES
66 FEDERAL RESERVE BOARD PUBLICATIONS
68 ANTICIPATED SCHEDULE OF RELEASE DATES FOR
PERIODIC STATISTICAL RELEASES
70 PUBLICATIONS OF INTEREST
71 FEDERAL RESERVE STATISTICAL RELEASES
AVAILABLE ON THE COMMERCE DEPARTMENT'S
ECONOMIC BULLETIN BOARD
Symbols and Abbreviations
c
e
n.a.
n.e.c.
P
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
GDP
Corrected
Estimated
Not available
Not elsewhere classified
Preliminary
Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
Calculated to be zero
Cell not applicable
Asset-backed security
Automatic transfer service
Bank insurance fund
Certificate of deposit
Collateralized mortgage obligation
Community Reinvestment Act of 1977
Federal Agricultural Mortgage Corporation
Federal Financing Bank
Federal Financial Institutions Examination Council
Federal Housing Administration
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Farmers Home Administration
Federal National Mortgage Association
Farm Service Agency
Federal Savings and Loan Insurance Corporation
Group of Seven
Group of Ten
Gross domestic product
GNMA
GSE
HUD
IBF
IMF
IOs
IPCs
IRA
MMDA
MSA
NAICS
NOW
OCDs
OPEC
OTS
PMI
POs
REIT
REMICs
RHS
RP
RTC
SCO
SDR
SIC
STRIPS
TIIS
TIPS
VA
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International banking facility
International Monetary Fund
Interest-only, stripped, mortgage-backed securities
Individuals, partnerships, and corporations
Individual retirement account
Money market deposit account
Metropolitan statistical area
North American Industry Classification System
Negotiable order of withdrawal
Other checkable deposits
Organization of Petroleum Exporting Countries
Office of Thrift Supervision
Private mortgage insurance
Principal-only, stripped, mortgage-backed securities
Real estate investment trust
Real estate mortgage investment conduits
Rural Housing Service
Repurchase agreement
Resolution Trust Corporation
Securitized credit obligation
Special drawing right
Standard Industrial Classification
Separate trading of registered interest and principal
of securities
See TIPS
Treasury inflation-protected securities (formerly
TIIS, or Treasury inflation-indexed securities)
Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
4
Federal Reserve Bulletin Statistical Supplement • September 2007
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
1
2
3
4
Reserves of depository institutions2
Total
Required
Nonborrowed
Monetary base3
Concepts of money*
5 Ml
6 M2
Q3
Q4
Q1
Q2
-13.7
-11.8
-15.1
.7
-2.0
-4.2
-.3
2.6
-7.5
-6.3
-6.7
1.6
7.9
8.2
7.7
2.3
-1.8
-.3
6.4
-.4
7.1
2.2
6.7
-10.0
3.8
12.4
16.7
7.3
2.1
2.4
4.9P
7.1
-3.4
4.0
Apr.
7.3
7.8
12.5
-6.9
-3.5
2.4
7.9
9.4
10.7
14.4
10.0
12.4
15.4
11.7
12.5
5.2
10.2
3.4
2.7
2.1
8.3
9.1
.0
3.8
-10.9
2.5
5.9P
3.2
.9
2.4
3.8
1.9
16.0p
6.3P
Nontransaction components
7 In M2S
Time and savings deposits
Commercial banks
Savings, including MMDAs . .
Small time1"
Thrift institutions
10
Savings, including MMDAs ..
11
Small time8
23.2
-22.0
8.2
11.6P
8.8P
26.7
14.3
14.6P
2.1P
50.2
40.7
28.9P
10.7
Money market mutual funds
12 Retail7
13 Institution-only
16.0
17.3
17.2
21.2
18.8
11.2
13.1
28.2
10.2
8.8
24.8
26.6
7.0
33.6
8
9
.7
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
-1.2
20.7
18.7
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.
5. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances, each seasonally adjusted separately.
6. 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.
7. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Money Stock and Bank Credit
1.11
5
FACTORS AFFECTING RESERVE BALANCES OF DEPOSITORY INSTITUTIONS1
Millions of dollars
Average of
daily figures
Apr.
May
852,390
783,416
783,416
277,019
470,664
32,070
3,663
0
28,967
83
36
0
47
-625
40,549
853,332
789,887
789,887
277,019
Average of daily figures for week ending on date indicated
May 16
May 23
May 30
June 6
June 13
June 20
June 27
850,115
853,631
790,236
790,236
277,019
474,672
34,459
4,087
0
25,857
858,066
790,300
790,300
277,019
474,672
34,459
849,881
790,359
790,359
277,019
474,672
34,459
4,209
0
128
119
13
0
106
-551
39,019
11,041
2,200
38,462
852,412
790,417
790,417
277,019
474,672
34,459
4,267
0
22,679
283
847,605
790,476
790,476
277,019
474,672
34,459
4,326
0
17,786
179
5
0
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
11,041
2,200
38,393
474,451
34,459
3,959
0
24,419
851,940
790,405
790,405
277,019
474,672
34,459
4,255
0
22,517
186
43
0
142
-748
39,581
11,041
2,200
38,489
106
13
0
93
-974
39,894
11,041
2,200
38,437
847,829
790,074
790,074
277,019
474,672
34,459
3,925
0
18,036
84
0
82
790,153
790,153
277,019
474,672
34,459
4,003
0
22,071
142
42
0
101
-1,056
40,691
11,041
2,200
38,433
-937
38,685
809,050
32,298
32,084
808,818
11,041
2,200
38,443
6
0
122
-1,415
38,824
11,041
2,200
38,452
4,151
0
29,179
21,071
146
26
0
120
-825
39,130
11,041
2,200
38,477
132
0
151
-558
39,591
174
-853
11,041
2,200
40,018
11,041
2,200
38,492
38,507
810,240
31,721
31,721
0
301
809,734
30,828
30,828
0
294
12,373
5,475
11,655
ABSORBING RESERVE FUNDS
19
20
21
22
23
24
25
26
27
28
29
30
31
32
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 .
813,595
32,764
32,764
0
807,595
35,528
34,703
825
810,080
33,746
33,512
234
811,135
32,077
32,077
0
316
265
296
236
266
281
13,372
13,124
11,298
11,752
6,289
94
6,707
6,707
0
283
38,905
8,309
6,242
94
6,509
6,509
0
280
39,012
8,783
11,888
5,024
106
6,519
6,519
0
239
39,462
8,811
4,451
4,913
94
6,470
6,470
0
275
39,060
12,143
5,183
214
94
6,470
6,470
0
284
38,981
7,640
32,215
32,215
0
94
6,580
6,580
0
287
39,269
7,272
May
879,552
787,188
787,188
277,019
471,936
34,459
3,774
0
864,276
790,272
790,272
277,019
474,672
34,459
811,424
32,315
32,315
0
11,892
4,938
94
6,580
6,580
0
11,880
280
39,410
11,418
231
39,451
6,232
296
4,958
109
6,583
6,583
0
96
6,583
6,583
0
220
39,341
10,167
4,923
99
6,395
6,395
0
238
39,655
7,187
Wednesday figures
End-of-month figures
Apr.
812,919
33,844
33,844
0
287
May 16
May 30
June 6
June 13
860,929
790,260
790,260
277,019
474,672
34,459
857,753
790,322
790,322
277,019
474,672
34,459
850,222
790,380
790,380
277,019
474,672
34,459
4,172
0
154
43
0
111
-501
39,278
11,041
2,200
38,462
4,231
0
22,000
142
0
0
142
-1,500
39,200
11,041
2,200
38,477
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 . .
51,500
70
11
0
59
97
40,698
11,041
2,200
38,414
4,122
0
35,750
115
1
0
114
-606
38,746
11,041
2,200
38,462
855,381
790,522
790,522
277,019
474,672
34,459
4,373
0
25,250
204
31
0
173
-1,301
40,705
11,041
2,200
38,521
845,088
790,103
790,103
277,019
474,672
34,459
3,953
0
18,000
93
7
0
86
-1,154
38,046
11,041
2,200
38,433
859,224
790,182
790,182
277,019
474,672
34,459
4,032
0
31,250
118
0
0
118
-1,175
38,849
11,041
2,200
38,443
4,111
0
31,000
121
1
0
120
856
38,691
11,041
2,200
38,452
28,500
851,556
790,439
790,439
277,019
474,672
34,459
4,289
0
21,000
933
771
0
162
-621
39,804
850,695
790,497
790,497
277,019
474,672
34,459
4,347
0
20,000
187
5
0
182
-179
40,190
11,041
2,200
11,041
2,200
38,492
38,507
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
806,998
37,389
37,389
0
299
814,007
34,817
34,817
0
36,424
29,504
95
6,508
6,508
0
316
39,069
11,028
12,269
5,340
93
6,580
6,580
0
256
39,275
15,324
286
811,368
32,618
32,618
0
815,146
813,488
32,069
32,069
0
295
812,234
31,579
31,579
0
303
810,908
30,443
30,443
0
292
812,319
34,860
34,860
0
10,965
11,141
11,563
12,355
4,312
93
6,470
6,470
0
279
38,569
4,371
93
6,470
6,470
0
266
38,750
16,752
4,637
94
6,580
6,580
0
253
38,892
11,876
5,396
92
6,580
6,580
0
12,923
6,022
96
6,583
6,583
0
222
39,153
9,571
10,748
4,125
11,646
4,742
812,794
32,349
32,349
0
306
810,148
11,451
4,649
197
6,395
6,395
0
210
39,277
10,967
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.
32,446
32,446
0
263
286
39,150
12,100
95
6,583
6,583
0
226
38,837
7,342
30,134
30,134
0
306
4,039
97
6,395
6,395
0
218
39,276
9,659
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 2007
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averages of biweekly averages
Reserve classification
1
7
3
4
5
6
7
8
9
10
11
Reserve balances with Reserve Banks2
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Primary
Seasonal
2007
2004
2005
2006
2006
Dec.
Dec.
Dec.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
12.046
47,259
34,801
12,457
46,847
44,938
1,909
10.045
51,310
35,346
15,964
45,391
43,490
1,901
8.474
50,901
34,807
16,094
43,282
41,478
1,804
8.474
50,901
34,807
16,094
43,282
41,478
1,804
8 777
52,165
35,864
16,301
44,641
43,131
1,510
7.718
53,733
34,948
18,785
42,666
41,164
1,502
7.515
49,729
33,254
16,475
40,769
39,129
1,640
8.554
48,805
33,988
14,817
42,542
41,014
1,528
9,201
48,651
34,823
13,828
44,023
42,583
1,440
8,734
49,422
34,918
14,504
43,652
41,942
1,710
63
11
0
52
169
97
0
72
191
111
0
80
191
111
0
80
211
187
0
24
30
8
0
22
54
21
5
28
79
32
0
48
103
14
0
90
187
43
0
145
B weekly averages of daily figures for two-week periods ending on dates indicated
2007
1
?.
3
4
5
6
7
8
9
10
11
2
Reserve balances with Reserve Banks
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Primary
Seasonal
Feb. 28
Mar. 14
Mar. 28
Apr. 11
Apr. 25
May 9
May 23
June 6
June 20
July 4
8,719
51,430
36,313
15,117
45,032
43,260
1,772
7,596
48,651
32,098
16,553
39,694
38,136
1,558
7,378
50,964
34,651
16,313
42,029
40,343
1,686
7,776
49,001
32,127
16,874
39,903
38,096
1,806
8,683
48,912
35,256
13,656
43,939
42,610
1,329
9,908
48,075
34,531
13,544
44,439
42,966
1,472
8,664
49,392
35,057
14,335
43,720
42,425
1,295
9,345
48,003
34,741
13,262
44,086
42,428
1,658
8,199
48,697
33,629
15,069
41,827
40,320
1,507
9,116
51,289
36,830
14,459
45,946
43,922
2,024
30
8
0
21
43
7
60
31
0
29
80
44
0
36
83
32
0
52
71
6
0
65
113
22
0
92
124
10
0
114
215
79
0
136
188
12
0
176
26
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
9/21/07
Effective date
Previous rate
On
9/21/07
Effective date
Previous rate
On
9/21/07
Effective date
Previous rate
5.25
9/18/07
9/18/07
9/20/07
9/18/07
9/19/07
9/19/07
5.75
5.75
9/18/07
9/18/07
9/20/07
9/18/07
9/19/07
9/19/07
6.25
5.35
9/13/07
5.25
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
i
9/20/07
9/19/07
9/18/07
9/18/07
9/19/07
9/18/07
i
5.25
'
5.75
5.75
1
9/20/07
9/19/07
9/18/07
9/18/07
9/19/07
9/18/07
i
1
1
6.25
5.35
9/13/07
5.25
Range of rates for primary credit
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2.25
2.25
2003—June 25
26
2.00-2.25
2.00
2.00
2.00
2004—June 30
July 1
Aug. 10
11
Sept. 21
22
Nov. 10
12
Dec. 14
15
2.00-2.25
2.25
2.25-2.50
2.50
2.50-2.75
2.75
2.75-3.00
3.00
3.00-3.25
3.25
2.25
2.25
2.50
2.50
2.75
2.75
3.00
3.00
3.25
3.25
2005—Feb.
3.25-3.50
3.50
Effective date
In effect Jan. 9,2003
(beginning of program)
2
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2005—Feb. 3
Mar. 22
24
May 3
4
June 30
July 1
Aug. 9
10
Sept. 20
22
Nov. 1
2
Dec. 13
14
3.50
3.50-3.75
3.75
3.75^.00
4.00
4.00^.25
4.25
4.25^.50
4.50
4.50^.75
4.75
4.75-5.00
5.00
5.00-5.25
5.25
3.50
3.75
3.75
4.00
4.00
4.25
4.25
4.50
4.50
4.75
4.75
5.00
5.00
5.25
5.25
2006—Jan. 31
Feb. 2
5.25-5.50
5.50
5.50
5.50
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2006—Mar. 28
30
May 10
11
June 29
July 6
5.50-5.75
5.75
5.75-6.00
6.00
6.00-6.25
6.25
5.75
5.75
6.00
6.00
6.25
6.25
2007—Aug. 17
Aug. 20
Sept. 18
20
5.75-6.25
5.75
5.25-5.75
5.25
5.75
5.75
5.25
5.25
5.25
5.25
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2001—June 27
29
Aug. 21
23
Sept. 17
18
Oct. 2
4
Nov. 6
8
Dec. 11
13
3.25-3.50
3.25
3.00-3.25
3.00
2.50-3.00
2.50
2.00-2.50
2.00
1.50-2.00
1.50
1.25-1.50
1.25
3.25
3.25
3.00
3.00
2.50
2.50
2.00
2.00
1.50
1.50
1.25
1.25
2002—Nov. 6
7
0.75-1.25
0.75
0.75
0.75
0.75
0.75
Effective date
In effect September 21, 2007 . . .
Range of rates for adjustment credit in recent years4
Effective date
In effect Dec. 31, 1995
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.25
5.25
1996—Jan. 31
Feb. 3
5.00-5.25
5.00
5.00
5.00
1998—Oct. 15
16
Nov. 17
19
4.75-5.00
4.75
4.50-4.75
4.50
4.75
4.75
4.50
4.50
1999—Aug. 24
26
Nov. 16
18
4.50-4.75
4.75
4.75-5.00
5.00
4.75
4.75
4.75
5.00
Effective date
2000—Feb.
2
4
Mar. 21
23
May 16
19
2001—Jan.
Feb.
Mar.
Apr.
May
3
4
5
31
1
20
21
18
20
15
17
1. Available for very short terms as a backup source of liquidity to depository institutions
that are in generally sound financial condition in the judgment of the lending Federal Reserve
Bank.
2. Available in appropriate circumstances to depository institutions that do not qualify for
primary credit.
3. Available to help relatively small depository institutions meet regular seasonal needs for
funds that arise from a clear pattern of intrayearly movements in their deposits and loans. The
discount rate on seasonal credit takes into account rates charged on market sources of funds
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.00-5.25
5.25
5.25-5.50
5.50
5.50-6.00
6.00
5.25
5.25
5.50
5.50
5.50
6.00
5.75-6.00
5.50-5.75
5.50
5.00-5.50
5.00
4.50-5.00
4.50
4.00^.50
4.00
3.50^.00
3.50
5.75
5.50
5.50
5.00
5.00
4.50
4.50
4.00
4.00
3.50
3.50
Effective date
In effect Jan. 8, 2003
(end of program)
and ordinarily is reestablished on the first business day of each two-week reserve maintenance
period.
4. Was available until January 8, 2003, to help depository institutions meet temporary
needs for funds that could not be met through reasonable alternative sources. For earlier data,
see the following publications of the Board of Governors: Banking and Monetary Statistics,
1914-1941, and 1941-1970; the Annual Statistical Digest, 1970-1979, 1980-1989, and
1990-1995; and the Statistical Digest, 1996-2000. See also the Board's Statistics: Releases
and Historical Data webpages www.federalreserve.gov/releases/H15/data.htm.
8
1.15
Federal Reserve Bulletin Statistical Supplement • September 2007
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Net transaction accounts^
1 $0 million-$8.5 million2
2 More than $8.5 million-$45.8 million3
3 More than $45.8 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
12/21/06
12/21/06
12/21/06
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
0
0
88,466
88,466
0
0
0
76,560
76,560
0
0
0
94,858
94,858
0
U.S. TREASURY SECURITIES2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Outright transactions
Treasury bills
Gross purchases
Gross sales
Exchanges
For new bills
Redemptions
Others within one year
Gross purchases
Gross sales
Maturity shifts
Exchanges
Redemptions
One to five years
Gross purchases
Gross sales
Maturity shifts
Exchanges
Five to ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
More than ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
All maturities
Gross purchases
Gross sales
Redemptions
26 Net change in U.S. Treasury securities . . .
18,138
0
821.685
821,685
0
871,661
871,661
5,748
0
905,206
905,206
0
85,342
85,342
0
0
69,275
69,275
0
0
0
66,169
66,169
0
7,994
0
103,380
-118,373
0
2,894
0
109,557
-108,098
2,795
4,967
0
0
0
10,552
220
0
14,046
-15,441
335
0
0
0
0
0
0
0
0
0
0
817
0
0
0
0
0
0
1,394
0
0
0
0
0
0
0
0
0
17,249
0
-84,844
110,819
11,309
0
-91,121
97,723
26,354
0
0
0
3,151
0
-11,009
13,147
4,979
0
0
0
0
0
0
0
1,061
0
0
0
0
0
3,742
0
0
0
2,736
0
0
0
5,763
0
-8,012
7,554
3,626
0
-7,041
7,375
4,322
0
0
0
411
0
2,073
2,294
445
0
0
0
0
0
0
0
0
0
0
0
290
0
0
0
0
0
0
0
1,364
0
-10,524
0
2,007
0
-11,395
3,000
3,299
0
0
0
780
0
-5,110
1,072
0
0
0
0
0
0
0
0
0
0
0
640
0
0
0
0
0
0
0
50,507
0
0
28,136
0
2,795
44,690
0
10,552
4,562
0
335
6,496
0
0
0
0
0
0
0
0
6,066
0
0
2,736
0
0
50,507
25,341
1,876,900
1,887,650
2,097,050
2,083,300
2,125,500
2,131,500
194,500
186,500
176,500
173,500
176,000
184,750
193,750
180,500
228,250
240,250
179,500
161,250
174,250
190,000
5,621,153
5,626,285
6,421,223
6,420,945
6,779,023
6,778,132
665,558
662,802
586,711
585,277
630,544
633,309
696,788
704,054
843,250
840,887
739,145
739,251
752,100
749,528
-5,110
10,756
4,434
-11,515
5,984
-9,637
18,143
-13,178
29,029
14,983
10,930
-11,515
7,862
-9,637
24,209
-10,442
70,706
70,706
1,878
0
1,878
4,227
FEDERAL AGENCY OBLIGATIONS
Outright transactions
Gross purchases
Gross sales
Redemptions
Net change in federal agency obligations . . .
TEMPORARY TRANSACTIONS
Repurchase agreements3
Gross purchases
Gross sales
Matched sale-purchase agreements
33 Gross purchases
34 Gross sales
Reverse repurchase agreements*
35 Gross purchases
36 Gross sales
37 Net change in temporary transactions
38 Total net change in System Open Market Account
-15,882
34,626
39,369
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 2007
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
May 30
June 6
June 13
June 20
June 27
Apr.
May
Consolidated condition statement
ASSETS
11,037
2,200
880
821,381
790,260
790,260
277,019
474,672
34,459
4,111
0
31,000
121
5,934
2,016
37,267
20,736
16,531
11,037
2,200
893
818,975
790,322
790,322
277,019
474,672
34,459
4,172
0
28,500
154
4,071
2,026
37,250
20,842
16,408
11,037
2,200
914
812,523
790,380
790,380
277,019
474,672
34,459
4,231
0
22,000
142
2,696
2,028
37,352
20,580
16,772
11,037
2,200
932
812,372
790,439
790,439
277,019
474,672
34,459
4,289
0
21,000
933
3,514
2,036
37,767
20,639
17,128
11,037
2,200
938
810,684
790,497
790,497
277,019
474,672
34,459
4 347
0
20,000
187
3,686
2,039
38,291
20,724
17,566
11,037
2,200
1,068
838,757
787,188
787,188
277,019
471,936
34,459
3 774
0
51,500
70
1,723
2,013
38,973
21,058
17,915
11,037
2,200
890
826,136
790,272
790,272
277,019
474,672
34,459
4,122
0
35,750
115
3,749
2,035
36,725
20,752
15,972
11,037
2,200
958
815,976
790,522
790,522
277,019
474,672
34,459
4,373
0
25,250
204
1,663
2,055
38,555
20,758
17,797
880,715
876,452
868,749
869,859
868,875
895,772
882,771
872,445
777,855
34,860
24,032
19,049
4 637
94
253
5,077
5,971
776,210
32,069
24,454
18,679
5,396
92
286
4,571
6,017
774,970
31,579
19,153
14,090
4,742
95
226
4,210
6,046
773,636
30,443
22,478
16,138
6,022
96
222
4,150
6,042
775,052
30,134
20,574
16,221
4,039
97
218
3,838
6,131
769,947
37,389
47,745
17,830
29,504
95
316
1,621
5,867
776,716
34,817
27,591
21,902
5,340
93
256
4,371
6,103
775,533
32,349
22,349
17,293
4,649
197
210
2,937
5,666
847,794
843,319
835,958
836,748
835,730
862,569
849,598
838,834
30 Capital paid in
31 Surplus
32 Other capital accounts
16,102
15,375
1,444
16,106
15,386
1,641
16,097
15,371
1,323
16,106
15,387
1,617
16,111
15,398
1,636
15,872
15,374
1,956
16,101
15,386
1,685
16,102
15,399
2,110
33 Total capital
32,921
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Gold certificate account
Special drawing rights certificate account . . . .
Coin
Securities, repurchase agreements, and loans .
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3 . .
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans
Items in process of collection
Bank premises
Other assets
Denominated in foreign currencies'"
All other7
19 Total assets .. .
LIABILITIES
20
21
22
23
24
25
26
27
28
Federal Reserve notes, net of F.R. Bank holdings .
Reverse repurchase agreements5
Deposits
Depository institutions
U.S. Treasury, general account
Foreign official
Other
Deferred availability cash items
Other liabilities and accrued dividends9
29 Total liabilities
CAPITAL ACCOUNTS
32,791
33,173
MEMO
34 Marketable securities held in custody for foreign officit
and international accounts3'10
35
U.S. Treasuiy
36
Federal agency
37 Securities lent to dealers
1,962,529
1,234,593
727,936
8,942
1,950,033
1,224,824
725,209
2,193
1,957,585
1,226,199
731,385
4,637
1,971,902
1,230,342
741,560
2,939
1,975,604
1,234,509
741,095
2,566
1,927,593
1,229,440
698,153
4,299
1,957,027
1,230,407
726,620
11,431
1,982,870
1,241,114
741,756
14,869
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
971,407
973,143
974,566
976,167
978,521
966,984
972,157
979,452
193,552
777,855
777,855
11,037
2,200
764,618
0
196,933
776,210
776,210
11,037
2,200
762,973
0
199,597
774,970
774,970
11,037
2,200
761,733
0
202,531
773,636
773,636
11,037
2,200
760,399
0
203,469
775,052
775,052
11,037
2,200
761,815
0
197,037
769,947
769,947
11,037
2,200
756,710
0
195,440
776,716
776,716
11,037
2,200
763,479
0
203,919
775,533
775,533
11,037
2,200
762,296
0
821,260
818,822
812,380
811,439
810,497
838,688
826,022
815,772
34,909
32,114
31,624
30,482
30,168
37,456
34,861
32,402
786,351
786,707
780,757
780,957
780,329
801,232
791,161
783,370
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 30
May
Apr.
1 Total loans
58
96
0
12
130
933
0
185
2
0
55
15
95
20
162
42
0
790,260
790,322
790,380
790,439
790,497
787,188
790,272
790,522
70,503
164.252
169,274
229,514
74,496
82,220
62,340
172,422
165,484
233,320
74,512
82,244
61,006
173,922
165,322
233,338
74,526
82,267
66,144
168,821
165,288
233,355
74,541
82,289
64,425
170,256
165,576
233,373
74,556
82,312
47,023
175,654
174,159
240,198
66,896
83,257
42,196
170,355
183,763
237,234
74,499
82,225
44,484
189,553
166,221
233,381
74,562
82,321
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
31,000
28,500
22,000
21,000
20,000
51,500
35,750
25,250
20 Within 15 days
31,000
0
28,500
0
22,000
0
21,000
0
20,000
0
51,500
0
35,750
0
25,250
0
31,579
30,443
31,579
0
30,443
0
30,134
0
37,389
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"
34,860
34,860
32,069
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.
34,817
34,817
0
32,349
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • September 2007
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2003
Dec.
2004
Dec.
2005
Dec.
2006
Dec.
Apr.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
42.67
42.63
41.63
720.52
46.60
46.54
44.69
759.63
45.15
44.98
43.25
787.91
43.31
43.12
41.51
812.57
43.19
43.03
41.49
810.08
43.31
43.12
41.51
812.57
42.18
41.97
40.67
813.39
42.44
42.41
40.93
812.17
42.34
42.28
40.70
813.79
42.72
42.64
41.19
816.07
43.16
43.05
41.72
817.89
43.61
43.42
41.90
819.30
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
42.46
42.41
41.41
725.21
46.52
46.46
44.61
764.66
45.15
44.98
43.25
793.37
43.36
43.17
41.56
818.40
42.37
42.21
40.68
808.59
43.36
43.17
41.56
818.40
44.63
44.42
43.12
816.80
42.69
42.66
41.19
812.91
40.81
40.76
39.17
813.94
42.60
42.52
41.07
815.95
44.09
43.99
42.65
818.59
43.74
43.55
42.03
820.03
42.95
42.91
41.91
737.62
1.05
.05
46.85
46.79
44.94
774.77
1.91
.06
45.39
45.22
43.49
802.30
1.90
.17
43.28
43.09
41.48
825.28
1.80
.19
42.23
42.07
40.54
815.38
1.69
.16
43.28
43.09
41.48
825.28
1.80
.19
44.64
44.43
43.13
823.69
1.51
.21
42.67
42.64
41.16
819.69
1.50
40.77
40.72
39.13
820.79
1.64
.05
42.54
42.46
41.01
822.63
1.53
.08
44.02
43.92
42.58
825.07
1.44
.10
43.65
43.46
41.94
826.50
1.71
.19
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
2003
Dec.
2004
Dec.
2005
Dec.
2006
Dec.
Apr.
May
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,305.5
6.070.4
8,872.3
1,375.1
6,417.9
9,433.0
1,373.0
6,678.5
10,154.0
1,366.2
7,021.1'
n .a.
1,369.8
7,151.5'
n.a.
1,379.3
7,206.0'
n .a.
1,379.3
7,229.0'
n.a.
1,366.8
7,243.9
n.a.
662.7
7.7
325.4
309.7
698.0
7.6
342.3
327.3
724.5
7.2
324.0
317.4
749.6
6.7
305.9
304.0
751.2
6.6
302.9
309.2
753.4
6.6
306.8
312.6
754.7
6.5
306.7
311.3
755.0
6.5
304.4
300.9
4,764.9
2,792.7
5,042.7
3,011.1
5,305.5
3,478.5
5,654.9
n .a.
5,781.7
n.a.
5,826.7'
n .a.
5,849.8
n.a.
5,877.0
n.a.
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,337.5
540.9
764.5
2,630.6
550.5
909.3
2,769.6
643.0
1,122.9
2,902.1
756.9
n .a.
2,924.4'
751.3
n.a.
2,938.7
753.3
n .a.
2,940.9
754.8
n.a.
2,950.1
756.0
n.a.
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
831.3
273.5
120.7
887.1
272.0
161.5
849.2
339.7
230.7
792.2
398.6'
n .a.
847.3
414.7'
n.a.
867.7'
418.4'
n .a.
879.3
420.6
n.a.
881.3
420.7
n.a.
781.7
1,126.3
702.6
1,076.7
704.0
1,143.9
805.0
1,341.2
843.8
1,376.0
848.7
1,414.5
854.2
1,453.7
868.9
1,476.4
494.8
295.3
492.6
379.1
564.3
423.9
n .a.
n .a.
n.a.
n.a.
n .a.
n .a.
n.a.
n.a.
n.a.
n.a.
4
5
6
7
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Nontransaction components
8 In M27
9 In M3 onlys
Money market mutual funds
16 Retail12
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
Not seasonally adjusted
Measures2
20 Ml
21 M2
22 M3
1,332.0
6,100.3
8,927.8
1,401.2
6,449.6
9,482.2
1,396.4
6,712.4
10,201.4
1,388.2
7,062.1
1,379.4
7,171.5'
1,392.6
7,258.6'
n.a.
1,384.0
7,202.5'
n.a.
1,368.7
7,248.4
666.7
7.6
342.6
315.0
702.4
7.5
358.6
332.8
728.9
7.2
337.6
322.7
754.6
6.7
317.6
309.3
753.0
6.5
306.0
313.9
754.2
6.5
308.7
323.2
756.1
6.5
307.7
313.7
756.5
6.6
304.1
301.5
Nontransaction components
27 In M27
28 In M3 onlys
4,768.3
2,815.9
5,048.3
3,025.4
5,316.0
3,488.3
5,673.9
5,792.1'
5,866.0'
n.a.
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
2,337.9
540.5
760.9
2,633.1
549.9
903.3
2,776.0
642.3
1,114.4
2,914.9
756.4
2,929.7'
750.5
2,969.4'
751.8
n.a.
2,924.8
752.4
n.a.
2,958.0
753.7
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
831.5
273.3
120.1
271.7
160.4
851.2
339.4
228.9
795.7
398.4
848.9'
414.2'
876.7
417.6'
n.a.
874.5
419.3
883.7
419.4
785.0
1,153.0
705.6
1,099.9
707.1
1,167.1
808.6
1,369.8
848.8
1,381.5
850.4
1,400.0
847.5
1,430.1
864.8
1,459.7
497.6
292.8
494.6
376.6
566.1
422.0
23
24
25
26
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Money market mutual funds
35 Retail12
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appeal on following page.
n.a.
n.a.
5,879.7
14
Federal Reserve Bulletin Statistical Supplement • September 2007
NOTES TO TABLE 1.21
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
1. Latest monthly and weekly figures are available from the Board's H.6 (508) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 are available from the Money and Reserves Projections Section, Division of Monetary
Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depository institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement account (IRA) and Keogh balances at depository institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted Ml.
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depository institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the result to seasonally adjusted M2.
3. Currency outside the U.S. Treasury, Federal Reserve Banks, and vaults of depository
institutions.
4. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers.
Travelers checks issued by depository institutions are included in demand deposits.
5. Demand deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations (excluding those amounts held by
depository institutions, the U.S. government, and foreign banks and official institutions) less
cash items in the process of collection and Federal Reserve float.
6. Consists of NOW and ATS account balances at all depository institutions, credit union
share draft account balances, and demand deposits at thrift institutions.
7. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances.
8. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted.
9. Small time deposits are those issued in amounts of less than $100,000. All IRAs and
Keogh accounts at commercial banks and thrift institutions are subtracted from small time
deposits.
10. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
11. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
12. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
A. All commercial banks
15
Assets and Liabilities'
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Aug.
2007
2007
2006
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 8
Aug. 15
Aug. 22
Aug. 29
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
8.042.2'
2,205.2
1,222.4
982.8
5.837.0'
1,161.6'
3,131.6'
448.2
2.683.4'
729.8'
238.9
575.2'
284.0'
288.3
809.0
8.438.1
2,239.1
1,205.2
1,033.9
6,199.0
1,210.4
3,414.8
471.6
2.943.2
745.0
278.9
549.8
366.3
300.7
859.2
8.425.9
2,265.9
1,211.4
1,054.5
6,159.9
1,218.7
3,363.4
463.2
2.900.2
742.3
284.6
550.9
369.3
290.5
857.7
8.485.2
2,276.0
1,186.0
1,090.0
6,209.2
1,225.8
3,385.1
458.6
2.926.5
748.3
281.8
568.2
363.5
292.8
855.2
8,533.8
2,281.2
1,173.8
1,107.5
6,252.6
1,241.6
3.394.8
458.7
2.936.1
751.6
295.0
569.6
358.3
291.5
855.2
8,573.4
2,300.9
1,178.0
1,122.9
6,272.5
1,258.2
3,412.1
459.9
2.952.2
761.7
268.4
572.1
369.8
289.0
867.8
8,633.7
2,312.4
1,181.2
1,131.2
6.321.3
1,277.5
3,422.5
462.1
2.960.4
769.3
270.1
581.8
384.5
292.9
880.4
8.759.5
2,339.0
1,183.6
1,155.3
6,420.6
1,310.7
3,434.5
465.6
2.968.9
771.8
285.2
618.3
403.5
289.8
893.6
8.691.9
2,313.5
1,181.3
1,132.3
6,378.4
1,292.6
3,436.5
464.3
2.972.2
770.1
284.5
594.6
377.1
286.2
879.7
8.728.2
2,323.3
1,186.1
1,137.2
6,404.8
1,303.0
3,422.7
464.8
2.957.9
770.7
282.2
626.3
426.8
293.3
894.6
8.786.9
2,355.8
1,185.8
1,170.0
6,431.1
1,319.6
3.433.1
466.4
2.966.7
770.0
287.7
620.8
409.5
291.3
895.1
8.814.6
2,357.3
1,180.2
1,177.1
6,457.3
1,324.1
3,441.3
466.8
2.974.5
774.8
287.6
629.4
404.0
289.9
901.8
9,355.7
9,896.0
9,875.6
9,928.2
9,970.2
10,031.0
10,120.8
10,275.4
10,164.1
10,272.0
10,311.8
10,338.8
5.886.5
654.2
5.232.3
1,597.8
3,634.5
1,831.9
336.6'
1,495.3'
108.8
550.9
6.180.0
629.0
5.551.0
1,701.0
3,850.0
2,016.3
411.7
1,604.6
58.8
581.3
6.221.2
633.0
5.588.2
1,728.3
3,859.8
2,040.1
417.8
1,622.3
-5.6
588.5
6.278.3
629.7
5.648.6
1,763.1
3,885.5
2,059.3
428.2
1,631.1
-41.2
598.5
6.296.4
646.9
5.649.4
1,795.7
3,853.7
2,057.0
423.5
1,633.5
-48.1
596.7
6.277.4
622.9
5.654.5
1,775.9
3,878.6
2,096.6
433.0
1,663.6
-22.0
603.9
6.302.6
610.4
5.692.2
1,774.3
3,917.9
2,115.3
431.5
1,683.8
49.7
600.4
6.370.6
629.1
5.741.5
1,821.7
3.919.8
2,202.9
451.3
1,751.6
34.7
595.4
6.317.3
614.3
5.703.0
1,811.5
3,891.6
2,148.5
421.9
1,726.6
31.5
586.6
6.382.3
614.1
5.768.2
1,820.1
3,948.1
2,211.7
476.7
1,735.1
-2.2
604.4
6.410.0
631.2
5.778.9
1,828.7
3,950.2
2,210.6
458.8
1,751.8
36.4
597.6
6.373.2
648.0
5.725.2
1,829.1
3,896.1
2,239.0
451.9
1,787.1
68.1
595.5
8,378.2
8,836.4
8,844.1
8,895.0
8,902.0
8,955.9
9,068.0
9,203.5
9,083.9
9,196.2
9,254.7
9,275.9
977.5
1.059.6
1.031.5
1.033.3
1.068.3
1.075.1
1.052.9
1.071.9
1.080.3
1.075.8
1.057.2
1.062.9
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.
8,019.9'
2,198.7
1.216.2
982.5
5.821.2'
1,155.4'
3,132.0'
449.7
2.682.3'
727.0
312.7
414.3
232.5
574.3'
282.1'
278.8
811.2
8,447.4
2,246.2
1.213.0
1,033.3
6,201.2
1,214.5
3,411.0
472.0
2.939.0
749.9
322.4
427.5
279.4
546.4
364.1
299.0
853.2
8,405.4
2,266.8
1.217.0
1,049.8
6,138.6
1,223.0
3,346.1
459.7
2.886.5
736.5
310.1
426.5
284.8
548.2
372.4
280.7
852.1
8,472.1
2,278.3
1,194.4
1,083.9
6,193.7
1,233.7
3,370.9
457.1
2.913.7
741.2
314.3
426.8
282.0
566.0
371.4
288.1
858.4
8,521.9
2,287.6
1.182.8
1,104.7
6,234.3
1,248.2
3,393.4
459.8
2.933.6
745.7
317.8
427.9
280.7
566.3
354.4
288.0
860.3
8,560.6
2,300.1
1.176.2
1,123.9
6,260.6
1,262.4
3,402.9
461.5
2.941.3
754.7
323.9
430.9
267.9
572.7
360.9
285.1
870.2
8,598.7
2,298.7
1.172.9
1,125.8
6,300.1
1,275.1
3,413.2
463.0
2.950.2
761.6
325.2
436.5
266.4
583.8
375.3
288.3
881.1
8,734.2
2,332.3
1.177.3
1,155.0
6,401.9
1,303.8
3,434.2
467.2
2.967.0
769.1
327.8
441.3
277.8
617.0
401.2
279.8
896.3
8,669.2
2,306.3
1.174.8
1,131.5
6,362.9
1,286.4
3,436.8
465.3
2.971.6
761.8
323.1
438.7
282.2
595.7
373.4
272.6
885.8
8,699.6
2,311.3
1.174.6
1,136.7
6,388.2
1,296.1
3,423.5
466.7
2.956.9
766.7
326.8
439.8
276.5
625.4
429.6
277.9
901.9
8,751.2
2,346.1
1.178.4
1,167.8
6,405.1
1,312.7
3,428.8
467.8
2.961.0
770.3
328.7
441.5
275.9
617.5
402.4
273.5
894.6
8,795.3
2,356.8
1.178.3
1,178.5
6,438.5
1,316.6
3,442.3
469.0
2.973.3
776.5
332.6
443.8
277.2
626.0
402.1
286.5
898.1
9,324.1
9,895.3
9,842.8
9,921.8
9,956.1
10,007.7
10,072.9
10,240.4
10,130.1
10,237.9
10,250.7
10,310.5
5.871.9
641.4
5.230.5
1,595.0
3.635.5
1 825 2
337.5'
1,487.7'
109.7
552.3
6.184.1
620.4
5.563.8
1,705.0
3,858.7
2 0142
410.5
1,603.7
66.9
588.9
6.216.0
628.9
5.587.0
1,727.7
3,859.4
2,031.5
416.8
1,614.7
-16.4
578.2
6.302.3
637.2
5.665.0
1,769.6
3,895.5
2,063.3
430.8
1,632.5
-59.4
581.5
6.298.3
639.0
5.659.3
1,811.4
3.847.9
2,072.0
423.5
1,648.5
-53.7
592.7
6.290.7
620.3
5.670.4
1,792.7
3,877.7
2,109.3
432.4
1,676.8
-30.2
597.0
6.288.6
603.5
5.685.1
1,777.9
3,907.2
2,109.7
430.7
1,679.0
39.2
591.8
6.354.7
616.0
5,738.7
1,818.0
3.920.7
2,194.0
452.3
1,741.7
36.0
597.0
6.330.7
560.8
5.769.9
1,811.3
3,958.6
2,138.5
423.9
1,714.6
25.9
582.3
6.378.6
599.4
5.779.2
1,810.3
3,968.9
2,197.5
476.0
1,721.5
-3.1
603.8
6.345.4
629.5
5.715.9
1,826.1
3,889.8
2,203.5
457.5
1,746.0
40.7
601.6
6.340.6
668.5
5.672.1
1,825.1
3,847.0
2,236.1
454.7
1,781.4
74.1
601.4
8,359.1
8,854.2
8,809.3
8,887.7
8,909.3
8,966.8
9,029.3
9,181.7
9,077.4
9,176.8
9,191.2
9,252.3
965.0
1,041.1
1,033.6
1,034.2
1,046.8
1,040.9
1,043.6
1,058.6
1,052.6
1,061.1
1,059.5
1,058.2
16
Federal Reserve Bulletin Statistical Supplement • September 2007
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.
2007
2007
2006
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 8
Aug. 15
Aug. 22
Aug. 29
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
7,127.9'
1,829.6
1,137.7
691.9
5,298.3'
954.9'
3,108.4'
448.2
2,660.2'
729.8'
96.5
408.7'
232.9'
235.1
759.6
7,466.7
1,849.4
1,118.9
730.4
5,617.3
989.1
3,392.6
471.6
2,921.0
745.0
120.3
370.3
301.9
246.6
820.8
7,450.3
1,868.2
1,124.5
743.6
5,582.2
996.4
3,340.7
463.2
2 877.5
742.3
127.6
375.1
309.5
237.3
820.6
7,482.4
1,867.6
1,101.2
766.4
5,614.7
1,002.8
3,355.9
458.6
2,897.3
748.3
120.9
386.9
307.2
242.4
817.8
7,517.8
1,867.5
1,089.1
778.4
5,650.2
1,014.5
3,365.0
458.7
2,906.3
751.6
133.8
385.3
298.0
237.5
816.3
7,556.8
1,877.4
1,094.9
782.5
5,679.5
1,023.8
3,384.9
459.9
2,925.0
761.7
125.0
384.1
305.7
238.2
828.6
7,595.3
1,888.6
1,098.7
789.9
5,706.7
1,039.4
3,393.6
462.1
2,931.5
769.3
120.6
383.8
313.0
238.9
839.8
7,682.1
1,906.0
1,096.8
809.1
5,776.2
1,066.2
3,404.2
465.6
2,938.6
771.8
127.9
406.1
331.0
235.8
852.6
7,619.8
1,882.0
1,095.1
786.9
5,737.8
1,053.4
3,408.1
464.3
2,943.8
770.1
117.8
388.3
307.7
231.1
841.5
7,656.4
1,892.1
1,097.9
794.2
5,764.3
1,060.7
3,393.4
464.8
2,928.6
770.7
127.7
411.9
355.5
240.6
856.7
7,704.7
1,921.9
1,099.5
822.5
5,782.7
1,070.8
3,403.4
466.4
2,937.1
770.0
133.8
404.6
338.5
237.2
853.0
7,730.7
1,924.2
1,094.1
830.1
5,806.4
1,076.4
3,408.2
466.8
2,941.4
774.8
131.7
415.4
325.7
234.8
857.1
8,288.3
8,768.3
8,750.5
8,781.8
8,801.6
8,860.9
8,916.9
9,031.1
8,929.9
9,038.8
9,062.9
9,077.2
5,201.3
643.4
4,557.9
925.1
3,632.8
1,371.9
294.2'
1,077.7'
316.4
427.9
5,405.6
618.7
4,786.8
938.6
3,848.2
1,465.1
349.4
1,115.7
373.2
464.2
5,417.2
622.6
4,794.6
936.6
3,858.0
1,466.3
349.4
1,116.9
363.5
473.8
5,428.0
617.6
4,810.4
926.8
3,883.6
1,481.5
366.3
1,115.2
367.9
477.2
5,407.8
635.7
4,772.1
920.2
3,851.9
1,490.3
364.0
1,126.3
387.3
468.4
5,405.7
610.7
4,794.9
918.2
3,876.7
1,519.8
365.1
1,154.7
392.5
481.9
5,443.9
598.6
4,845.3
929.3
3,916.1
1,537.0
367.3
1,169.8
408.8
479.0
5,480.5
616.6
4,863.9
946.0
3,917.9
1,612.8
378.3
1,234.5
397.9
473.8
5,425.5
601.6
4,823.9
934.2
3,889.7
1,566.0
361.0
1,204.9
393.0
462.4
5,488.4
601.5
4,886.9
940.7
3,946.2
1,601.0
383.9
1,217.1
391.8
483.2
5,519.1
619.1
4,900.0
951.7
3,948.3
1,623.7
390.0
1,233.8
401.4
476.4
5,484.0
635.3
4,848.7
954.5
3,894.3
1,658.5
381.9
1,276.5
407.0
475.9
7,317.5
7,708.0
7,720.8
7,754.6
7,753.8
7,799.9
7,868.7
7,964.9
7,846.9
7,964.5
8,020.6
8,025.4
970.8
1,060.3
1,029.7
1,027.2
1,047.8
1,060.9
1,048.2
1,066.1
1,082.9
1,074.4
1,042.2
1,051.8
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.
7,112.7'
1,823.0
1,131.4
691.6
5,289.6'
949.3'
3,108.8'
449.7
2,659.1'
1,282.4
1,376.7'
727.0
312.7
414.3
95.5
409.0'
231.0'
225.2
762.3
7,470.8
1,856.5
1,126.7
729.8
5,614.3
990.3
3,388.8
472.0
2,916.8
1,452.6
1,464.2
749.9
322.4
427.5
119.2
366.1
299.7
245.7
813.9
7,426.5
1,869.0
1,130.1
739.0
5,557.5
998.8
3,323.4
459.7
2,863.7
1,391.2
1,472.5
736.5
310.1
426.5
127.7
371.1
312.6
229.2
815.2
7,464.4
1,870.0
1,109.6
760.4
5,594.5
1,009.4
3,341.7
457.1
2,884.5
1,401.3
1,483.2
741.2
314.3
426.8
119.1
383.2
315.1
238.6
821.9
7,514.5
1,873.9
1,098.2
775.7
5,640.6
1,021.2
3,363.6
459.8
2,903.8
1,410.8
1,493.0
745.7
317.8
427.9
127.9
382.2
294.1
234.7
820.9
7,545.9
1,876.6
1,093.1
783.5
5,669.4
1,028.6
3,375.7
461.5
2,914.1
1,414.0
1,500.1
754.7
323.9
430.9
126.0
384.4
296.9
234.9
830.9
7,564.0
1,874.9
1,090.4
784.5
5,689.1
1,037.7
3,384.2
463.0
2,921.2
1,422.0
1,499.3
761.6
325.2
436.5
119.8
385.7
303.8
234.7
841.3
7,665.0
1,899.3
1,090.5
808.8
5,765.7
1,059.9
3,403.9
467.2
2,936.7
1,425.5
1,511.2
769.1
327.8
441.3
126.5
406.3
328.7
225.5
855.7
7,602.9
1,874.8
1,088.7
786.1
5,728.1
1,047.9
3,408.4
465.3
2,943.1
1,434.4
1,508.8
761.8
323.1
438.7
119.4
390.6
304.0
217.6
846.2
7,637.6
1,880.1
1,086.4
793.6
5,757.5
1,054.2
3,394.3
466.7
2,927.6
1,414.6
1,513.0
766.7
326.8
439.8
129.2
413.2
358.3
224.8
863.1
7,679.4
1,912.3
1,092.1
820.2
5,767.1
1,064.3
3,399.2
467.8
2,931.4
1,419.3
1,512.1
770.3
328.7
441.5
130.0
403.3
331.3
219.1
854.7
7,719.1
1,923.7
1,092.3
831.5
5,795.3
1,069.8
3,409.2
469.0
2,940.2
1,429.5
1,510.7
776.5
332.6
443.8
127.0
412.9
323.7
230.7
855.4
8,263.9
8,762.3
8,716.2
8,772.4
8,796.3
8,840.1
8,873.7
9,004.2
8,900.1
9,013.2
9,014.0
9,057.9
5,189.7
630.7
4,558.9
925.2
3,633.8
1 365 2
295.1'
1,070.0'
318.2
430.0
5,408.4
609.8
4,798.6
941.7
3,856.9
1 463 0
348.2
1,114.9
381.5
472.0
5,408.3
618.3
4,790.0
932.5
3,857.5
1,457.7
348.4
1,109.3
355.0
464.9
5,440.5
625.3
4,815.2
921.7
3,893.6
1,485.5
368.9
1,116.6
352.9
462.1
5,393.7
628.0
4,765.7
919.6
3,846.0
1,505.3
364.0
1,141.3
386.1
467.3
5,405.0
608.3
4,796.7
920.9
3,875.8
1,532.5
364.6
1,167.9
387.5
477.0
5,428.0
591.9
4,836.1
930.8
3,905.3
1,531.5
366.5
1,165.0
401.4
472.2
5,468.4
603.6
4,864.9
946.0
3,918.8
1,603.9
379.3
1,224.6
400.2
476.1
5,445.5
548.5
4,897.0
940.2
3,956.8
1,556.0
363.1
1,192.9
389.5
459.4
5,493.8
587.1
4,906.8
939.7
3,967.0
1,586.8
383.2
1,203.6
391.5
483.0
5,455.6
617.7
4,837.9
950.0
3,887.9
1,616.6
388.7
1,227.9
405.3
480.1
5,450.8
655.7
4,795.0
950.0
3,845.1
1,655.6
384.7
1,270.9
414.2
482.5
7,303.0
7,724.8
7,685.8
7,741.1
7,752.4
7,802.0
7,833.1
7,948.7
7,850.4
7,955.1
7,957.6
8,003.0
961.0'
1,037.4
1,030.4
1,031.3
1,043.9
1,038.0
1,040.7
1,055.5
1,049.7
1,058.1
1,056.4
1,054.9
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.r
2007
2007
2006
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 8
Aug. 15
Aug. 22
Aug. 29
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
Federal funds sold to and
repurchase agreements with
others
25
All other loans
26
Lease-financing receivables
27 Interbank loans
28 Federal funds sold to and
repurchase agreements with
commercial banks
29
Other
30 Cash assets5
31 Other assets'"
32 Total assets7
33
34
35
36
37
38
39
40
41
42
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
43 Total liabilities
44 Residual (assets less liabilities)5
Footnotes appear on p. 21.
4,272.1
1,218.9
721.0
47.3
673.7
601.8
71.9
497.9
224.8
273.1
44.8
228.2
3,053.2
597.9
1,646.6
344.1
1,302.5
790.1
512.3
406.2
87.4
4,497.9
1,222.0
705.4
52.0
653.4
585.7
67.8
516.6
231.8
284.8
53.6
231.2
3,275.9
616.3
1,862.0
368.6
1,493.4
938.9
554.5
422.6
4,541.5
1,243.1
718.8
63.2
655.6
590.6
65.0
524.2
243.3
281.0
54.7
226.2
3,298.4
621.7
1,866.5
368.1
1,498.4
940.5
557.9
423.6
118.3
4,555.3
1,243.2
698.9
63.3
635.6
571.2
64.4
544.2
263.7
280.5
55.7
224.8
3,312.1
625.2
1,871.4
366.1
1,505.3
942.7
562.6
425.0
111.2
4,586.2
1,240.5
686.5
59.9
626.5
565.4
61.1
554.1
271.6
282.4
56.8
225.7
3,345.7
635.1
1,880.9
366.6
1,514.4
945.7
568.6
426.7
124.8
4,607.4
1,250.8
693.1
67.8
625.3
564.4
60.9
557.6
280.4
277.2
56.9
220.3
3,356.7
639.1
1,895.6
367.8
1,527.8
953.0
574.8
432.0
115.3
4,647.7
1,272.9
701.1
70.5
630.6
562.4
68.3
571.8
289.9
281.8
57.7
224.1
3,374.8
646.4
1,909.5
369.3
1,540.2
963.5
576.7
431.0
111.0
4,717.1
1,288.3
700.3
66.6
633.6
563.8
69.9
588.0
301.1
286.9
58.5
228.4
3,428.8
666.7
1,913.0
372.1
1,540.9
959.7
581.2
4,667.0
1,267.9
698.1
66.8
631.2
561.1
70.1
569.8
287.8
282.0
58.1
223.9
3,399.1
657.2
1,920.0
371.0
1,549.0
969.5
579.6
4,700.6
1,279.7
702.5
65.5
637.0
565.7
71.3
577.2
293.4
283.8
57.7
226.2
3,420.9
663.3
1,904.5
371.6
1,532.9
950.5
582.4
4,735.3
1,300.8
702.8
66.8
636.0
565.9
70.1
598.0
310.0
288.0
59.3
228.7
3,434.5
669.9
1,911.2
372.9
1,538.3
954.9
583.4
4,752.0
1,301.5
697.2
66.4
630.9
562.0
68.9
604.2
313.3
290.9
59.1
231.8
3,450.5
674.0
1,913.4
373.0
1,540.3
960.4
580.0
117.7
107.9
117.1
123.9
121.8
70.0
17.4
87.3
23.8
93.4
24.9
86.4
24.9
99.5
25.3
91.2
24.2
86.3
24.7
92.9
24.9
84.3
23.6
91.9
25.2
96.8
27.2
97.8
24.0
24.0
185.3
105.7
145.6
26.9
137.4
99.7
192.0
29.2
139.7
99.5
186.6
36.1
143.9
99.1
183.4
37.2
143.2
97.7
176.6
33.8
143.7
97.0
174.0
32.1
147.3
97.5
180.6
41.5
159.2
97.3
192.0
33.9
150.3
97.6
171.3
45.8
160.3
97.4
206.5
41.2
158.0
97.1
202.7
42.9
166.9
97.1
190.3
87.0
58.6
145.6
532.6
126.7
65.3
152.0
562.4
122.5
64.1
144.2
572.2
122.4
61.1
149.3
563.1
120.1
56.5
144.3
558.3
118.1
55.9
145.4
568.7
125.9
54.7
145.1
573.9
136.5
55.4
143.0
583.5
114.1
57.2
138.2
574.2
153.5
53.0
146.0
582.4
146.1
56.6
143.1
586.1
136.1
54.3
143.2
592.5
5,062.1
5,370.6
5,411.3
5,417.5
5,431.9
5,461.8
5,512.3
5,600.5
5,515.8
5,600.5
5,632.4
5,642.7
2 924 6
338.7
2,585.9
503.4
2,082.5
852.2
137.2
715.0
308.7
361.0
3 015 6
323.0
2,692.5
502.9
2,189.7
899.3
140.6
758.8
359.5
379.4
3,054.3
330.8
2,723.5
508.6
2,214.9
937.8
143.2
794.6
353.4
391.6
3,064.2
331.1
2,733.1
504.4
2,228.7
935.7
141.6
794.1
364.4
397.0
3,038.9
342.3
2,696.6
495.5
2,201.1
937.3
136.3
801.0
385.2
387.2
3,022.6
319.9
2,702.7
492.7
2,210.0
958.1
138.5
819.6
389.7
400.9
3,045.3
311.9
2,733.4
503.1
2,230.3
1,011.5
151.2
860.3
405.8
398.4
3,075.8
321.9
2,753.9
519.5
2,234.4
1,065.3
154.7
910.5
394.7
393.3
3,026.3
312.4
2,713.9
506.8
2,207.1
1,036.5
145.8
890.6
391.6
383.3
3,079.7
312.5
2,767.2
514.6
2,252.6
1,057.9
162.4
895.5
388.4
401.0
3,108.3
322.8
2,785.6
526.0
2,259.6
1,066.1
159.7
906.4
397.3
397.0
3,083.0
337.1
2,745.9
528.8
2,217.1
1,092.6
154.6
938.0
402.9
395.2
4,446.5
4,653.8
4,737.1
4,761.2
4,748.6
4,771.3
4,861.0
4,929.1
4,837.7
4,927.0
4,968.7
4,973.7
615.6
716.8
674.2
656.3
683.4
690.5
651.4
671.4
678.1
673.6
663.7
669.0
18
Federal Reserve Bulletin Statistical Supplement • September 2007
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.r
2007
2007
2006
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 8
Aug. 15
Aug. 22
Aug. 29
Not seasona lly adjusted
Assets
45 Bank credit
46
Securities in bank credit
47
Treasury and Agency securities2 .
48
Trading account
49
Investment account
50
Mortgage-backed
51
Other
52
Other securities
53
Trading account
54
Investment account
55
State and local government .
56
Other
57
Loans and leases in bank credit3 . . .
58
Commercial and industrial
59
Real estate
60
Revolving home equity
61
Other
62
Other residential
63
Commercial
64
Consumer
65
Credit cards and related plans .
66
Other
67
Security4
68
Federal funds sold to and
repurchase agreements
with broker-dealers
69
Other
70
Federal funds sold to and
repurchase agreements
with others
71
All other loans
72
Lease-financing receivables
73 Interbank loans
74 Federal funds sold to and
repurchase agreements
with commercial banks
75
Other
76 Cash assets5
77 Other assets6
78 Total assets7
79
80
81
82
83
84
85
86
87
88
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
89 Total liabilities
90 Residual (assets less liabilities)5
Footnotes appear on p. 21.
4,258.7
1,213.9
716.3
46.5
669.8
599.4
70.4
497.6
224.7
272.9
44.8
228.1
3,044.8
594.6
1,646.4
345.3
1,301.1
790.5
510.6
404.2
121.8
282.4
86.4
4,505.4
1,231.1
715.1
55.1
660.0
590.6
69.5
516.0
231.5
284.5
53.5
231.0
3,274.3
617.4
1,858.5
369.2
1,489.3
934.2
555.1
426.2
129.9
296.3
109.9
4,530.1
1,242.6
723.0
64.0
659.0
591.0
68.0
519.6
241.0
278.6
54.3
224.3
3,287.5
623.3
1,858.2
365.1
1,493.1
935.6
557.6
421.9
125.6
296.4
118.1
4,549.9
1,243.5
705.3
64.2
641.1
575.3
65.8
538.2
260.7
277.5
55.1
222.4
3,306.4
629.7
1,867.9
364.9
1,503.1
941.3
561.8
422.6
126.1
296.5
109.4
4,590.6
1,247.2
695.8
63.1
632.7
571.7
61.0
551.3
270.2
281.1
56.5
224.6
3,343.4
639.0
1,884.7
367.6
1,517.1
949.0
568.1
424.3
126.6
297.7
119.2
4,607.9
1,249.9
691.2
68.2
623.0
561.0
62.0
558.6
280.9
277.7
57.1
220.7
3,358.0
641.9
1,895.9
369.2
1,526.7
954.3
572.4
429.3
129.5
299.9
116.5
4,627.1
1,260.9
694.5
68.8
625.7
557.6
68.1
566.4
287.2
279.2
57.1
222.1
3,366.2
644.9
1,906.5
370.1
1,536.4
963.0
573.4
427.0
129.2
297.8
110.4
4,702.0
1,282.9
695.3
65.5
629.8
561.3
68.5
587.7
300.9
286.8
58.5
228.3
3,419.1
662.7
1,912.8
373.6
1,539.2
960.1
579.1
431.2
129.7
301.5
116.4
4,657.1
1,262.2
693.1
65.3
627.7
558.1
69.7
569.1
287.5
281.6
57.9
223.7
3,395.0
653.6
1,922.7
371.9
1,550.8
971.5
579.3
427.6
128.1
299.5
109.4
4,685.0
1,269.5
692.9
63.8
629.0
559.3
69.7
576.6
292.9
283.7
57.9
225.8
3,415.6
659.0
1,905.8
373.2
1,532.6
951.5
581.0
429.7
129.3
300.4
118.6
4,710.4
1,292.7
697.0
65.6
631.3
562.7
68.7
595.8
309.0
286.8
58.8
228.0
3,417.7
665.6
1,906.8
374.1
1,532.8
953.5
579.2
431.9
130.2
301.7
120.2
4,738.0
1,301.4
695.8
65.9
629.9
563.1
66.8
605.6
314.0
291.6
59.3
232.3
3,436.6
670.0
1,912.0
375.0
1,537.1
960.3
576.7
434.5
131.1
303.4
117.3
68.9
17.5
87.1
22.8
93.8
24.2
84.9
24.5
95.1
24.1
92.1
24.4
85.5
24.8
91.3
25.1
85.7
23.7
92.7
25.9
93.3
26.9
93.0
24.2
24.0
184.2
105.0
146.1
26.9
135.1
100.4
186.6
29.2
136.8
99.9
182.6
36.1
141.3
99.3
188.4
37.2
141.3
97.6
179.6
33.8
144.0
96.6
172.5
32.1
148.6
96.8
178.7
41.5
158.0
96.5
192.9
33.9
151.1
96.7
171.0
45.8
160.1
96.5
211.6
41.2
155.6
96.3
199.5
42.9
163.4
96.5
193.1
87.2
58.9
137.2
535.2
123.3
63.3
151.5
555.5
119.9
62.7
140.1
566.8
125.6
62.8
148.5
567.2
122.1
57.5
142.8
562.9
117.1
55.4
143.0
571.0
124.6
54.1
141.2
575.4
137.2
55.6
134.1
586.6
113.9
57.1
127.1
578.8
157.3
54.3
132.7
588.7
143.8
55.7
128.9
587.8
138.0
55.1
138.7
590.8
5,043.4
5,365.3
5,386.2
5,420.8
5,442.5
5,460.6
5,487.7
5,580.4
5,499.0
5,583.1
5,591.7
5,625.2
2,916.0
328.7
2,587.3
503.5
2,083.9
845.5
138.2
707.3
310.5
363.0
3,024.3
318.0
2,706.3
505.9
2,200.4
897.2
139.4
757.9
367.8
387.2
3,046.1
328.6
2,717.5
504.4
2,213.1
929.2
142.2
787.0
344.9
382.7
3,069.8
337.1
2,732.7
499.2
2,233.5
939.7
144.2
795.4
349.4
381.9
3,027.5
338.0
2,689.6
495.0
2,194.6
952.3
136.3
816.0
383.9
386.1
3,023.5
318.9
2,704.6
495.3
2,209.3
970.7
138.0
832.8
384.7
396.0
3,037.4
307.2
2,730.2
504.7
2,225.5
1,005.9
150.4
855.5
398.4
391.7
3,066.7
311.4
2,755.4
519.5
2,235.9
1,056.4
155.7
900.6
397.1
395.7
3,040.8
275.7
2,765.1
512.8
2,252.3
1,026.5
147.9
878.6
388.1
380.3
3,084.8
304.2
2,780.6
513.6
2,267.0
1,043.7
161.7
881.9
388.0
400.8
3,062.4
322.5
2,739.8
524.2
2,215.6
1,059.0
158.4
900.6
401.2
400.7
3,057.0
343.4
2,713.6
524.3
2,189.3
1,089.7
157.4
932.3
410.0
401.8
4,435.0
4,676.5
4,702.9
4,740.8
4,749.8
4,775.0
4,833.3
4,915.9
4,835.7
4,917.3
4,923.3
4,958.5
608.4
688.8
683.3
679.9
692.7
685.7
654.4
664.6
663.3
665.7
668.5
666.7
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.r
2007
2007
2006
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.
Aug. 8
Aug. 15
Aug. 22
Aug. 29
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
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
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
15 Total assets7
16
17
18
19
20
21
22
23
24
25
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
26 Total liabilities
27 Residual (assets less liabilities)5
2,855.8
610.7
416.6
194.0
2,245.2
357.0
1,461.9
104.1
1,357.7
323.5
102.7
87.3
89.5
227.1
2,968.8
627.4
413.5
213.8
2,341.4
372.8
1,530.6
103.0
1,427.6
322.4
115.6
109.9
94.6
258.4
2,908.8
625.1
405.7
219.4
2,283.7
374.7
1,474.2
95.1
1,379.0
318.7
116.1
122.9
93.0
248.4
2,927.1
624.4
402.2
222.2
2,302.7
377.5
1,484.5
92.5
1,392.0
323.2
117.4
123.7
93.1
254.6
2,931.6
627.0
402.7
224.3
2,304.5
379.4
1,484.1
92.1
1,392.0
324.9
116.2
121.4
93.2
258.0
2,949.4
626.6
401.8
224.9
2,322.8
384.6
1,489.2
92.1
1,397.1
329.7
119.2
131.7
92.8
259.9
2,947.6
615.8
397.6
218.1
2,331.9
393.0
1,484.1
92.8
1,391.3
338.4
116.4
132.4
93.8
265.9
2,965.0
617.7
396.6
221.1
2,347.3
399.5
1,491.2
93.5
1,397.7
338.5
118.2
139.1
92.8
269.1
2,952.8
614.1
397.1
217.0
2,338.7
396.3
1,488.1
93.3
1,394.7
337.9
116.4
136.4
92.9
267.3
2,955.8
612.4
395.4
217.0
2,343.4
397.4
1,488.9
93.2
1,395.7
338.1
118.9
149.0
94.6
274.4
2,969.3
621.1
396.7
224.5
2,348.2
401.0
1,492.3
93.5
1,398.8
336.8
118.2
135.7
94.1
266.8
2,978.7
622.8
396.9
225.8
2,355.9
402.4
1,494.8
93.8
1,401.1
340.4
118.3
135.3
91.5
264.6
3,226.2
3,397.7
3,339.2
3,364.3
3,369.7
3,399.0
3,404.6
3,430.6
3,414.1
3,438.3
3,430.5
3,434.5
2 276 7
304.7
1,972.1
421.7
1,550.4
519.7
157.0
362.7
7.7
66.9
2 390 0
295.7
2,094.3
435.8
1,658.6
565.8
208.8
357.0
13.7
84.8
2,362.9
291.8
2,071.1
428.0
1,643.1
528.5
206.2
322.3
10.1
82.2
2,363.8
286.5
2,077.3
422.5
1,654.9
545.8
224.7
321.1
3.5
80.2
2,368.9
293.4
2,075.5
424.7
1,650.8
553.0
227.7
325.3
2.2
81.3
2,383.0
290.8
2,092.3
425.6
1,666.7
561.7
226.6
335.1
2.8
81.0
2,398.6
286.7
2,112.0
426.2
1,685.8
525.5
216.0
309.5
3.0
80.6
2,404.6
294.6
2,110.0
426.5
1,683.5
547.5
223.6
323.9
3.2
80.5
2,399.2
289.2
2,110.0
427.4
1,682.5
529.5
215.2
314.3
1.4
79.2
2,408.7
289.1
2,119.7
426.1
1,693.5
543.1
221.5
321.6
3.4
82.3
2,410.8
296.4
2,114.5
425.8
1,688.7
557.6
230.3
327.3
4.1
79.4
2,401.0
298.2
2,102.8
425.7
1,677.1
565.9
227.3
338.6
4.1
80.7
2,871.0
3,054.2
2,983.7
2,993.4
3,005.3
3,028.6
3,007.8
3,035.8
3,009.2
3,037.5
3,051.9
3,051.7
355.2
343.5
355.5
370.9
364.4
370.4
396.8
394.7
404.8
400.8
378.5
382.8
Not seasona lly adjusted
28
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
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
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.
2,854.0
609.2
415.1
194.0
2,244.8
354.8
1,462.4
104.4
1,358.0
492.0
866.0
322.8
190.9
131.9
104.8
84.9
88.1
227.1
2,965.4
625.4
411.6
213.8
2,340.0
372.9
1,530.3
102.8
1,427.6
518.5
909.1
323.7
192.5
131.2
113.0
113.1
94.2
258.4
2,896.4
626.4
407.0
219.4
2,270.0
375.6
1,465.1
94.6
1,370.6
455.6
914.9
314.6
184.5
130.1
114.7
130.0
89.1
248.4
2,914.5
626.5
404.3
222.2
2,288.1
379.7
1,473.7
92.2
1,381.5
460.0
921.4
318.6
188.2
130.4
116.1
126.7
90.0
254.6
2,923.9
626.7
402.4
224.3
2,297.2
382.2
1,478.9
92.2
1,386.7
461.8
924.9
321.4
191.1
130.2
114.8
114.5
91.9
258.0
2,938.0
626.7
401.9
224.9
2,311.3
386.7
1,479.8
92.4
1,387.4
459.7
927.7
325.4
194.4
131.0
119.5
124.3
91.9
259.9
2,936.9
614.1
395.9
218.1
2,322.8
392.8
1,477.7
92.9
1,384.8
458.9
925.8
334.6
196.0
138.7
117.6
125.0
93.5
265.9
2,963.0
616.4
395.3
221.1
2,346.6
397.2
1,491.1
93.7
1,397.5
465.4
932.1
337.9
198.1
139.8
120.3
135.8
91.4
269.1
2,945.7
612.6
395.6
217.0
2,333.1
394.3
1,485.7
93.4
1,392.3
462.9
929.5
334.1
194.9
139.2
119.0
132.9
90.5
267.3
2,952.5
610.6
393.5
217.0
2,342.0
395.2
1,488.5
93.5
1,395.0
463.0
932.0
337.0
197.5
139.4
121.3
146.7
92.1
274.4
2,969.0
619.6
395.1
224.5
2,349.4
398.7
1,492.3
93.7
1,398.6
465.7
932.9
338.4
198.6
139.8
120.0
131.8
90.2
266.8
2,981.0
622.3
396.5
225.8
2,358.7
399.8
1,497.1
94.0
1,403.2
469.2
934.0
341.9
201.5
140.5
119.9
130.7
92.0
264.6
3,220.5
3,397.0
3,330.0
3,351.6
3,353.8
3,379.5
3,386.1
3,423.8
3,401.1
3,430.2
3,422.2
3,432.7
2,273.7
302.1
1,971.6
421.7
1,549.9
519.7
157.0
362.7
66.9
2,384.1
291.8
2,092.3
435.8
1,656.5
565.8
208.8
357.0
13.7
84.8
2,362.1
289.7
2,072.5
428.0
1,644.4
528.5
206.2
322.3
10.1
82.2
2,370.7
288.1
2,082.5
422.5
1,660.1
545.8
224.7
321.1
3.5
80.2
2,366.2
290.1
2,076.1
424.7
1,651.4
553.0
227.7
325.3
2.2
81.3
2,381.5
289.4
2,092.1
425.6
1,666.6
561.7
226.6
335.1
2.8
81.0
2,390.7
284.7
2,105.9
426.2
1,679.8
525.5
216.0
309.5
3.0
80.6
2,401.7
292.2
2,109.5
426.5
1,682.9
547.5
223.6
323.9
3.2
80.5
2,404.6
272.8
2,131.9
427.4
1,704.5
529.5
215.2
314.3
1.4
79.2
2,409.0
282.9
2,126.2
426.1
1,700.0
543.1
221.5
321.6
3.4
82.3
2,393.2
295.1
2,098.1
425.8
1,672.3
557.6
230.3
327.3
4.1
79.4
2,393.8
312.3
2,081.5
425.7
1,655.8
565.9
227.3
338.6
4.1
80.7
2,867.9
3,048.3
2,982.9
3,000.3
3,002.6
3,027.1
2,999.8
3,032.9
3,014.7
3,037.8
3,034.3
3,044.5
352.6
348.7
347.1
351.3
351.2
352.4
386.3
390.9
386.4
392.4
387.9
388.2
in
20
Federal Reserve Bulletin Statistical Supplement • September 2007
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.
2007
2007
2006
Feb.
Mar.
Apr.
May
June
July'
Aug.
Aug. 8
Aug. 15
Aug. 22
Aug. 29
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
13 Total assets7
14
15
16
17
18
19
20
21
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
22 Total liabilities
23 Residual (assets less liabilities)5
914.3
375.6
84.8
290.9
538.7
206.6
23.2
142.4
166.4
51.1
53.2
49.3
971.4
389.7
86.3
303.4
581.7
221.3
22.2
158.6
179.5
64.4
54.0
38.5
975.6
397.8'
86.9
310.9'
577.8
222.3
22.8
157.0
175.7
59.8
53.2
37.1
1,002.8'
408.4
84.8'
323.5
594.5
223.0'
29.2
161.0
181.3
56.3
50.4
37.4
1,016.1
413.7
84.6
329.1
602.3
227.1
29.8
161.1
184.3
60.3
54.0
38.9
1,016.6
423.5
83.1
340.4
593.1
234.4'
27.2
143.4'
188.1'
64.0
50.9'
39.2
1,038.4
423.7
82.4
341.3
614.7
238.1
29.0
149.5
198.1
71.5
54.0
40.6
1,077.4
433.0
86.8
346.2
644.4
244.6
30.3
157.4
212.2
72.5
54.0
41.0
1,072.1
431.5
86.1
345.4
640.6
239.2
28.4
166.7
206.3
69.5
55.1
38.2
1,071.8
431.3
88.2
343.0
640.5
242.3
29.3
154.5
214.4
71.3
52.7
37.8
1,082.2
433.9
86.3
347.5
648.4
248.7
29.6
153.8
216.2
71.1
54.1
42.2
1,083.9
433.1
86.0
347.0
650.8
247.7
33.1
155.9
214.1
78.3
55.1
44.7
1,067.4
1,127.7
1,125.1
1,146.4'
1,168.7
1,170.1
1,203.9
1,244.4
1,234.3
1,233.1
1,249.0
1,261.6
685.2
10.8
674.4
460.0
42.4
417.6
-207.6
123.0
774.4
10.3
764.1
551.2
62.4
488.9
-314.4
117.1
804.0
10.5
793.6
573.8
68.4
505.4
-369.1
114.6
850.3
12.1
838.1
577.8
61.9'
515.9'
-409.0
121.3
888.6
11.2
877.4
566.7'
59.5'
507.2'
-435.4
128.3
871.7
12.2
859.5
576.8
67.9'
508.9'
-414.5
122.0
858.7
11.8
846.9
578.2
64.2
514.0
-359.1
121.4
890.2
12.5
877.6
590.1
73.0
517.1
-363.2
121.5
891.8
12.6
879.2
582.5
60.8
521.7
-361.5
124.1
893.9
12.6
881.3
610.7
92.8
517.9
-394.0
121.1
890.9
12.1
878.8
586.9
68.9
518.1
-365.1
121.3
889.2
12.8
876.5
580.6
70.0
510.6
-338.9
119.6
1,060.7
1,128.4
1,123.3
1,140.3'
1,148.1'
1,156.0
1,199.3
1,238.6
1,237.0
1,231.7
1,234.0
1,250.5
6.7
-.6
1.8
14.1'
4.7
5.8
-2.7
1.4
14.9
11.1
6.1
20.5
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.
907.2
375.6
84.8
27.7
57.1
290.9
183.6
107.3
531.6
206.1
23.2
137.0
165.3
51.1
53.5
48.9
976.6
389.7
86.3
26.2
60.1
303.4
187.2
116.2
586.9
224.3
22.2
160.1
180.3
64.4
53.3
39.3
978.9
397.8'
86.9
30.0
56.9
310.9'
192.7
118.2
581.1
224.2
22.8
157.1
177.1
59.8
51.5
37.0
1,007.6'
408.4
84.8'
26.4
58.4
323.5
203.5
120.0
599.3
224.3
29.2
162.9
182.8
56.3
49.6
36.5
1,007.4
413.7
84.6
24.9
59.8
329.1
211.7
117.4
593.7
227.1
29.8
152.8
184.1
60.3
53.3
39.4
1,014.7
423.5
83.1
26.8
56.3
340.4
215.9
124.5
591.2
233.8'
27.2
141.9'
188.3'
64.0
50.2
39.3
1,034.7
423.7
82.4
26.0
56.4
341.3
216.3
125.0
611.0
237.4
29.0
146.6
198.1
71.5
53.6
39.9
1,069.2
433.0
86.8
28.1
58.7
346.2
213.5
132.7
636.2
243.9
30.3
151.3
210.7
72.5
54.4
40.6
1,066.3
431.5
86.1
27.2
59.0
345.4
216.3
129.1
634.8
238.5
28.4
162.8
205.1
69.5
55.1
39.7
1,062.0
431.3
88.2
29.9
58.3
343.0
212.5
130.6
630.7
241.8
29.3
147.4
212.3
71.3
53.1
38.8
1,071.8
433.9
86.3
27.4
58.9
347.5
214.7
132.8
638.0
248.4
29.6
145.8
214.1
71.1
54.4
40.0
1,076.3
433.1
86.0
27.2
58.9
347.0
211.4
135.6
643.2
246.8
33.1
150.2
213.1
78.3
55.8
42.7
1,060.2
1,133.0
1,126.6
1,149.5
1,159.8
1,167.6
1,199.2
1,236.1
1,230.0
1,224.6
1,236.8
1,252.6
682.2
10.7
671.5
460.0
42.4
417.6
-208.5
122.4
775.7
10.6
765.2
551.2
62.4
488.9
-314.6
117.0
807.7
10.7
797.0
573.8
68.4
505.4
-371.4
113.3
861.8
12.0
849.8
577.8
61.9'
515.9'
-412.3
119.3
904.6
11.0
893.6
566.7'
59.5'
507.2'
-439.7
125.4
885.7
12.0
873.7
576.8
67.9'
508.9'
-417.7
120.0
860.6
11.6
849.0
578.2
64.2
514.0
-362.1
119.5
886.2
12.4
873.9
590.1
73.0
517.1
-364.2
120.9
885.2
12.3
872.9
582.5
60.8
521.7
-363.6
122.8
884.8
12.4
872.4
610.7
92.8
517.9
-394.6
120.7
889.8
11.8
878.0
586.9
68.9
518.1
-364.6
121.5
889.9
12.8
877.1
580.6
70.0
510.6
-340.1
119.0
1,056.1
1,129.4
1,123.5
1,146.6
1,156.9
1,164.7
1,196.2
1,233.0
1,227.0
1,221.7
1,233.7
1,249.3
4.1
3.6
3.2
2.9
2.9
2.9
2.9
3.1
2.9
3.0
3.1
3.3
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
2006
Aug.
2007
2007
Feb.
Mar.
Apr.
May
June
July
Aug.
Aug. 8
Aug. 15
Aug. 22
Aug. 29
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 real estate loans12
108.9
109.4
114.2
119.5
125.1
129.2
129.6
134.2
130.9
134.1
137.7
135.5
92.7'
710.1'
532.4'
177.7'
92.1
707.5'
537.8'
169.7'
95.0
705.0'
539.4'
165.6'
99.7
684.0'
522.1'
162.0'
105.8
684.5'
519.8'
164.7'
116.4'
675.9'
510.3'
165.6'
110.1
675.1'
509.3'
165.8'
104.3
680.9
513.5
167.4
102.1
676.7
510.1
166.6
104.3
678.5
511.8
166.7
105.8
682.7
515.2
167.5
106.1
683.3
515.9
167.4
-10.2
100.8
68.6
32.3
n.a.
-7.9
105.4
67.6
37.7
n.a.
-4.9
106.8
69.5
37.3
n.a.
-4.7
105.8
69.8
36.0
n.a.
-6.2
105.4
70.1
35.3
n.a.
-14.2
103.6
68.5
35.1
n.a.
-16.9
105.4
69.0
36.3
1,226.0
-14.9
106.1
70.4
35.7
1,230.0
-16.0
106.3
70.4
35.8
1,227.8
-16.2
106.1
70.4
35.7
1,228.1
-14.8
106.1
70.4
35.6
1,231.1
-13.6
106.0
70.4
35.5
1,232.8
256.0'
262.6
259.3
3.3
n.a.
260.1'
273.2
269.9
3.3
n.a.
258.5'
276.6
273.4
3.2
n.a.
253.8'
275.4
272.2
3.2
n.a.
253.2'
275.5
272.3
3.2
n.a.
255.7'
278.3
274.9
3.4
n.a.
252.3'
283.5
278.4
5.1
41.2
253.0
288.0
283.0
5.0
40.5
250.5
287.3
282.3
5.0
40.5
250.3
287.2
282.2
5.0
40.5
253.9
288.8
283.8
5.0
40.5
256.6
288.3
283.3
5.0
40.4
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11
securities
12 Mortgage-backed
Securitized consumer
loans12
13
Credit cards and related plans
14
Other
15 Securitized real estate loans12
Foreign-related institutions
16 Revaluation gains on off-balancesheet items9
17 Revaluation losses on off-balancesheet items9
72.4
65.3
66.0
66.9
70.5
66.0
65.9
69.8
67.1
69.5
71.8
71.2
78.9
72.5
72.6
74.6
77.4
73.6
72.2
75.5
73.3
75.2
77.5
76.6
NOTES: Tables 1.26, 1.27, and 1.28 have been revised to reflect changes in the Board's H.8
statistical release, "Assets and Liabilities of Commercial Banks in the United States," which
is available at www.federalreserve.gov/releases. Table 1.27, "Assets and Liabilities of Large
Weekly Reporting Commercial Banks," and table 1.28, "Large Weekly Reporting U.S.
Branches and Agencies of Foreign Banks," are no longer being published in the Statistical
Supplement. Instead, abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data are both mergeradjusted and break-adjusted. In addition, data from large weekly reporting U.S. branches and
agencies of foreign banks have been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are break-adjusted.
1. Covers the following types of institutions in the fifty states and the District of Columbia:
domestically chartered commercial banks that submit a weekly report of condition (large
domestic); other domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and Agreement corporations (foreign-related
institutions). Excludes international banking facilities. Data are Wednesday values or pro rata
averages of Wednesday values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on weekly samples and on
quarter-end condition reports. Data are adjusted for breaks caused by reelassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. 17-19 are adjusted to remove
the estimated effects of mergers between these two groups. The adjustment for mergers
changes past levels to make them comparable with current levels. Estimated quantities of
balance sheet items acquired in mergers are removed from past data for the bank group that
contained the acquired bank and put into past data for the group containing the acquiring
bank. Balance sheet data for acquired banks are obtained from Call Reports, and a ratio
procedure is used to adjust past levels.
2. Treasury securities are liabilities of the U.S. Treasury. Agency securities are liabilities of
U.S. government agencies and U.S. government-sponsored enterprises.
3. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks
in the United States, all of which are included in "Interbank loans."
4. Consists of reverse RPs with brokers and dealers and loans to purchase and carry
securities.
5. Includes vault cash, cash items in process of collection, balances due from depository
institutions, and balances due from Federal Reserve Banks.
6. Excludes the due-from position with related foreign offices, which is included in "Net
due to related foreign offices."
7. Excludes unearned income, reserves for losses on loans and leases, and reserves for
transfer risk. Loans are reported gross of these items.
8. This balancing item is not intended as a measure of equity capital for use in capital
adequacy analysis. On a seasonally adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total liabilities.
9. Fair value of derivative contracts (interest rate, foreign exchange rate, other commodity
and equity contracts) in a gain/loss position, as determined under FASB Interpretation No. 39.
The fair market value of derivative contracts in a gain position is included in "Other
securities, trading account." The fair value of derivative contracts in a loss position is
included in "Other liabilities."
10. Includes mortgage-backed securities issued by U.S. government agencies, U.S.
government-sponsored enterprises, and private entities.
11. Difference between fair value and historical cost for securities classified as availablefor-sale under FASB Statement No. 115. Data are reported net of tax effects. Data shown are
restated to include an estimate of these tax effects.
12. Total amount outstanding.
22
1.32
Federal Reserve Bulletin Statistical Supplement • September 2007
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2006
2007
Item
1 All issuers
2 Financial companies'
3 Nonfinancial companies2
2002
2003
2004
2005
2006
Dec.
Jan.
Feb.
Mar.
Apr.
May
1,341,226
1,260,745
1,375,717
1,631,009
1,981,387
1,981,387
1,978,891
2,000,900
2,033,749
2,041,016
2,111,091
522,863
147,689
519,731
103,982
595,249
119,727
667,321
132,207
757,498
171,302
757,498
171,302
770,323
161,118
795,625
162,352
801,674
169,926
796,505
164,631
812,775
165,922
1. Institutions engaged primarily in commercial, savings, and mortgage banking; sales,
personal, and mortgage financing; factoring, finance leasing, and other business lending;
insurance underwriting; and other investment activities.
1.33
PRIME RATE CHARGED BY BANKS
2. Includes public utilities and firms engaged primarily in such activities as communications, construction, manufacturing, mining, wholesale and retail trade, transportation, and
services.
Short-Term Business Loans1
Percent per year
Date of change
2001—Jan.
Feb
Mar.
Apr
May
June
Aug.
Sept.
Oct.
Nov.
Dec.
Rate
4
1
21
19
16
28
22
18
3
7
12
9.00
8 50
8.00
7 50
7.00
6 75
6.50
6.00
5.50
5.00
4.75
2002—Nov. 7
4.25
2003—June 27
4.00
2004—June
Aug.
Sept.
Nov.
Dec.
30
10
21
10
14
4.25
4.50
4.75
5.00
5.25
2005—Feb.
Mar.
May
June
Aug.
Sept.
Nov.
Dec.
2
22
3
30
9
20
1
13
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
2006—Jan.
Mar.
May
June
31
28
10
29
7.50
7.75
8.00
8.25
Period
2003
2004
2005
2006
2001
Average
rate
4.12
4.34
6.19
7.96
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
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
2005—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
5.25
5.49
5.58
5.75
5.98
6.01
6.25
6.44
6.59
6.75
7.00
7.15
Period
Average
rate
2006—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
7.26
7.50
7.53
7.75
7.93
8.02
8.25
8.25
8.25
8.25
8.25
8.25
2007—Jan
Feb
Mar
Apr
May
June
July
8.25
8.25
8.25
8.25
8.25
8.25
8.25
Report. Data in this table also appear in the Board's H.I 5 (519) weekly statistical release,
available on the Board's website, www.federalreserve.gov/releases.
Financial Markets
1.35
INTEREST RATES
23
Money and Capital Markets
Percent per year; figures are averages of business day data unless otherwise noted
2007
Item
2004
2005
2007, weekending
2006
Mar.
Apr.
May
June
Junel
June 8
June 15
June 22
June 29
MONEY MARKET INSTRUMENTS
1 Federal funds1-13
2 Discount window primary credit2-4
1.35
2.34
3.22
4.19
4.97
5.96
5.26
6.25
5.25
6.25
5.25
6.25
5.25
6.25
5.28
6.25
5.24
6.25
5.26
6.25
5.25
6.25
5.25
6.25
paper3'5'6
Commercial
3
4
5
Nonfinancial
1-month
2-month
3-month
1.38
1.40
1.41
3.22
3.23
3.42
4.98
5.01
5.10
5.23
5.20
5.20
5.23
5.21
5.20
5.22
5.21
5.19
5.24
5.23
5.23
5.24
5.22
5.19
5.22
5.22
5.20
5.26
5.24
5.24
5.24
5.23
5.25
5.24
5.24
5.25
6
7
8
Financial
1-month
2-month
3-month
1.41
1.46
1.52
3.27
3.36
3.44
5.00
5.04
5.07
5.24
5.23
5.22
5.24
5.24
5.23
5.24
5.23
5.23
5.25
5.24
5.25
5.24
5.23
5.23
5.24
5.24
5.24
5.26
5.24
5.24
5.25
5.24
5.25
5.26
5.25
5.26
Certificates of deposit, secondary market3-1
1-month
3-month
6-month
1.45
1.57
1.74
3.34
3.51
3.73
5.06
5.16
5.24
5.28
5.30
5.28
5.29
5.31
5.31
5.28
5.31
5.32
5.30
5.33
5.36
5.30
5.32
5.34
5.29
5.32
5.35
5.30
5.33
5.36
5.30
5.33
5.36
5.32
5.33
5.35
12 Eurodollar deposits, 3-month3>s
1.55
3.51
5.19
5.34
5.34
5.34
5.35
5.35
5.35
5.35
5.36
5.35
US Treasury bills
Secondary market3-5
13
4-week
14
3-month
15
6-month
1.24
1.37
1.58
2.94
3.15
3.39
4.67
4.73
4.81
5.11
4.94
4.89
4.89
4.87
4.86
4.72
4.73
4.78
4.42
4.61
4.76
4.78
4.68
4.78
4.68
4.67
4.77
4.50
4.53
4.74
4.26
4.56
4.74
4.20
4.67
4.77
1.89
2.38
2.78
3.43
3.87
4.27
5.04
3.62
3.85
3.93
4.05
4.15
4.29
4.64
4.94
4.82
4.77
4.75
4.76
4.80
5.00
4.92
4.57
4.51
4.48
4.50
4.56
4.81
4.93
4.67
4.60
4.59
4.62
4.69
4.95
4.91
4.77
4.69
4.67
4.69
4.75
4.98
4.96
4.98
5.00
5.03
5.05
5.10
5.29
4.96
4.92
4.88
4.86
4.87
4.90
5.11
4.98
4.99
4.98
4.98
4.99
5.02
5.21
4.98
5.06
5.09
5.13
5.16
5.20
5.37
4.95
4.96
5.00
5.04
5.08
5.14
5.33
4.94
4.90
4.93
4.97
5.02
5.09
5.28
4.50
5.09
4.68
4.28
4.86
4.40
4.15
4.71
4.40
3.88
4.27
4.15
3.99
4.41
4.26
4.04
4.44
4.31
4.36
4.75
4.60
4.14
4.53
4.41
4.30
4.69
4.54
4.40
4.79
4.64
4.38
4.77
4.63
n.a.
n.a.
4.60
6.00
5.57
5.98
5.77
5.92
5.93
6.25
6.05
6.15
6.34
6.29
6.24
5.63
5.91
6.08
6.39
5.23
5.37
5.59
6.06
5.59
5.80
6.06
6.48
5.30
5.66
5.84
6.27
5.47
5.83
5.99
6.39
5.47
5.85
6.01
6.39
5.79
6.17
6.33
6.70
5.58
5.98
6.14
6.51
5.67
6.08
6.24
6.62
5.89
6.25
6.41
6.79
5.85
6.22
6.38
6.73
5.80
6.17
6.33
6.68
1.64
1.73
1.82
1.81
1.80
1.77
1.77
1.73
1.79
1.75
1.79
1.79
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 2007
1.36
STOCK MARKET
Selected Statistics
2007
2006
Indicator
2004
2005
2006
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)
6,614.10
741.19
521.11
271.45
657.07
7,351.19
n.a.
n.a.
n.a.
n.a.
8,357.63
n.a.
n.a.
n.a.
n.a.
8,856.30
n.a.
n.a.
n.a.
n.a.
9,089.55
n.a.
n.a.
n.a.
n.a.
9,132.04
n.a.
n.a.
n.a.
n.a.
9,345.98
n.a.
n.a.
n.a.
n.a.
9,120.57
n.a.
n.a.
n.a.
n.a.
9,555.98
n.a.
n.a.
n.a.
n.a.
9,822.99
n.a.
n.a.
n.a.
n.a.
9,896.98
n.a.
n.a.
n.a.
n.a.
9,985.42
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
1,130.65
1,207.23
1,310.46
1,388.63
1,416.42
1,424.16
1,444.79
1,406.95
1,463.65
1,511.14
1,514.49
1,520.70
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
1,260.02
1,567.52
1,936.79
2,003.86
2,065.81
2,060.93
2,150.89
2,115.40
2,207.54
2,204.69
2,336.84
2,354.93
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1 403 376 1 542 724 2 254 869 2 613 632 2 366 386 2 851 992 2 701 807 3 067 918 2 867 225 2 972 410 3 103 633 3 433 561
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
203,790
221,660
275,380
270,520
275,380
285,610
295,870
293,160
317,990
353,030
378,240
381,370
117,850
93,580
119,710
88,730
159,040
94,450
155,200
90,980
159,040
94,450
156,190
90,340
155,140
96,550
161,890
99,690
162,570
104,360
176,200
109,030
179,920
119,300
205,830
122,740
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
2005
1 Federal debt outstanding
....
2 Public debt securities
3
Held by public
4
Held by agencies
5 Agency securities
6
Held by public
7
Held by agencies
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
7,860.2
7,956.3
8,194.3
8,394.7
8,443.7
8,530.4
8,703.7
8,872.9
8,890.8'
7,836.5
4.527.6
3,308.9
7,932.7
4,601.6
3,331.1
8,170.4
4,714.6
3,455.8
8,371.2
4,872.8
3,498.4
8,420.0
4,797.5
3,622.6
8,507.0
4,843.2
3,663.8
8,680.2
4,901.2
3,779.0
8,849.7
5,054.3
3,795.4
8,867.7'
5,019.8'
3,847.9'
23.7
23.7
.0
23.6
23.6
.0
23.8
23.8
.0
23.6
23.6
.0
23.6
23.6
.0
23.4
23.4
.0
23.5
23.5
23.2
23.2
23.2'
23.2'
8,420.3
8,592.5
8,760.7
8,779.1'
7,778.0
.1
7,870.9
.1
8,106.9
.2
8,281.4
.1
8,330.6
.1
8,760.7
8,779.2'
8,184.0
8,184.0
8,184.0
8,965.0
8,965.0
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
8,420.2
.1
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
Q3
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 bom
Nonmarketable2
State and local government serit
Foreign issues3
Government
Public
Savings bonds and notes
Government account series4 ..
Non-interest-bearing
By holder^
U.S. Treasury and other federal agencies and trust funds
Federal Reserve Banks8
Private investors
Depository institutions
Mutual funds
Insurance companies
State and local treasuries7
Individuals
Savings bonds
Pension funds
Private
State and Local
Foreign and international5
Other miscellaneous investors7'9
6,997.3
7,596.1
8,170.4
8,680.2
6,982.0
3,575.1
928.8
1,905.7
564.3
176.2
3,406.9
149.2
9.7
9.7
7,578.5
3,959.7
8,117.0
4,184.0
4,413.9
1,003.2
2,157.1
963.9
2,326.8
539.5
245.9
516.6
192.2
3,007.0
16.0
8,627.5
944.2
2,409.9
530.6
AW 2
4,338.3
257.6
3.0
3.0
.0
8,455.1
4,354.0
911.5
2,415.5
534.7
191.7
191.2
187.7
3,230.6
3,506.6
53.4
3,839.4
395.6
4,203.9
238.8
3.0
3.0
.0
189.2
3,722.8
124.6
102.9
3,618.8
160.7
5.9
5.9
.0
17.6
328.7
3,986.5
235.6
3.8
3.8
.0
Q4
Ql
Q2
8,627.5
8,796.7
4,527.7
8,819.6
4,339.1
869.0
2,444.3
547.2
437.8
4,528.6
4,413.9
944.2
2,409.9
530.6
AW 2
4,338.3
257.6
3.0
3.0
.0
1,033.1
2,436.4
540.4
412.7
4,380.9
281.9
3.5
3.5
.0
187.7
185.4
301.6
3.0
3.0
.0
183.4
3,839.4
3,859.3
3,989.3
124.6
111.9
48.1
3,466.9
744.2
3,783.1
778.9
3,668.0
768.9
3,783.1
778.9
3,799.3
780.9
3,928.9
790.5
136.5
364.2
3,189.1
717.8
3,690.6
127.5
254.1
149.7
387.4
3,970.6
117.2
251.3
160.4
456.2
4,122.1
115.1
250.7
159.0'
484.2
4,074.2
113.9'
235.3
160.6'
463.0
4,122.1
115.1
250.7
159.0'
484.2
4,273.1
120.4'
264.2
160.2'
499.4
4,152.6
110.8
266.3
162.0
510.9
203.8
317.1
169.2
147.9
1,533.0
387.5
204.4
300.9
170.5
130.4
1,853.4
412.3
205.1
310.6
181.2
129.4
2,036.0
432.8
202.4
327.9'
193.2'
134.7
2,104.9'
470.5'
203.6
323.3'
191.2'
132.1
2,027.2
541.4'
202.4
327.9'
193.2'
134.7
2,104.9'
470.5'
200.3
333.4'
198.5'
134.8'
2,195.5'
490.5
198.6
338.2
202.3
135.9
2,220.0
n.a.
2,954.4
666.7
3,377.9
154.2
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.
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 2007
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2007
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.
2007, week end
May
May 2
May 9
May 16
May 23
May 30
June 6
June 13
June 20
June 27
51,714
42,607
37,578
37,848
30,771
37,071
35,292
45,447
45,702
35,035
35,148
40,613
238,449
166,555
172,194
212,437
172,192
151,431
173,771
167,289
212,181
243,087
180,954
240,458
145,558
113,751
123,639
159,900
101,162
103,848
128,214
137,632
169,611
194,801
149,150
160,544
121,426
32,257
7,783
88,318
26,805
9,021
115,071
27,533
8,923
109,023
30,913
11,279
116,017
22,001
8,149
110,052
24,899
9,365
134,742
30,010
9,154
95,490
29,683
8,411
147,092
38,470
7,278
245,161
56,516
10,772
168,991
34,940
9,175
134,866
26,217
8,675
52,903
52,870
55,000
58,503
52,212
53,764
51,736
60,653
56,159
46,423
61,433
63,170
9,952
8,379
7,359
7,227
5,945
6,362
11,389
5,693
7,860
5,143
6,432
5,654
6,856
4,089
4,017
4,136
3,789
6,242
3,615
2,663
2,563
5,146
6,287
4,178
5,182
732
4,584
823
3,193
703
5,742
898
2,509
413
3,413
540
3,242
843
2,066
828
5,816
1,255
4,880
877
4,163
664
5,915
709
317,887
301,901
316,492
243,238
436,204
301,995
285,141
231,628
517,990
572,975
264,614
232,200
202,602
28,907
210,930
25,272
216,518
28,515
226,979
31,271
212,800
25,148
212,340
27,634
219,269
31,355
215,396
28,998
226,929
27,622
224,683
27,900
249,551
29,059
233,724
30,771
252,200
180,317
205,476
229,411
194,258
180,162
217,764
208,690
262,760
337,809
246,924
262,858
7,684
66,350
739
6,693
62,872
612
4,923
65,102
559
6,836
50,143
645
5,046
78,696
504
4,868
75,536
594
4,987
65,756
690
3,900
42,508
402
5,562
84,585
628
6,019
132,875
633
6,550
70,220
595
6,620
51,046
745
344,986
266,739
279,463
331,988
256,034
256,504
293,420
275,262
357,575
447,564
331 434
348 515
67,940
251,536
230,770
64,052
239,028
235,590
65,348
251,389
244,473
69,670
193,095
257,605
59,822
357,508
237,444
65,453
226,458
239,380
65,839
219,385
249,933
68,002
189,121
243,991
68,090
433,405
253,923
56,450
440,100
251,950
72,428
194,394
278,014
73,006
181,154
263,751
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
2007, week ending
2007
Item, by type of security
Mar.
Apr.
May
May 2
May 9
May 16
May 23
May 30
June 6
June 13
June 20
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
6,857
-3,984
-17,049
-16,793
-19,488
-21,388
-14,703
-16,693
10,973
4,307
-12,703
-40,081
-53,143
-55,854
-56,836
-49,027
-52,873
-58,417
-62,547
-57,742
-53,776
-54,492
-35,781
-28,473
-30,515
-30,876
-33,227
-35,588
-29,138
-23,502
-34,041
-33,075
-35,105
-46,976
-21,822
4,433
-46,615
-19,898
5,902
-49,972
-20,527
7,392
-51,631
-18,856
7,505
-49,744
-18,318
7,095
-49,054
-17,408
7,637
-49,973
-22,514
7,222
-50,139
-23,751
7,509
-53,486
-24,689
7,886
-45,904
-20,173
7,120
-47,284
-23,505
6,896
38,450
35,487
44,045
38,181
43,431
46,929
45,460
42,476
40,956
44,002
43,880
37,433
28,778
21,851
27,726
25,463
23,123
19,281
18,141
19,865
16,334
17,650
16,934
15,546
15,021
15,073
16,469
15,885
14,396
13,703
12,325
11,228
11,580
15,453
8,934
14,936
9,877
14,794
10,910
14,451
10,401
14,106
10,563
16,117
11,047
14,239
10,821
14,836
11,271
14,612
11,489
12,754
11,027
12,949
10,419
31,173
39,709
44,298
44,144
44,000
49,770
41,022
44,047
33,073
24,752
29,610
39,077
210,347
42,011
208,246
41,761
203,421
43,285
205,737
37,956
205,792
43,812
201,209
39,010
199,392
44,803
204,672
48,953
217,119
47,413
217,992
44,062
217,688
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
1 379 446
1,117,808
1 383 077
1,180,952
1 452 624
1,243,935
1 438 432
1,285,266
1 446 195
1,350,486
1 494 804
1,142,643
1 446 271
1,237,488
1 427 996
1,243,836
1 447 615
1,170,275
1 447 358
1,224,818
1 474 530
1,202,654
188,182
249,156
202,425
253,407
212,252
262,151
199,733
264,422
208,530
265,589
212,035
261,103
219,944
262,814
211,187
259,098
218,476
257,607
212,909
278,413
191,485
280,859
142,793
436,325
135,318
455,516
144,792
479,446
147,117
475,164
138,107
487,558
145,984
472,377
146,990
474,784
147,120
483,772
146,915
483,058
158,241
476,242
140,668
479,581
115,253
105,367
121,965
106,912
123,654
110,802
122,314
111,551
123,754
110,046
123,468
110,930
123,403
111,298
123,955
110,853
126,578
109,882
123,617
110,320
126,851
111,514
919,436
1 371 853
915,201
1 455 793
973,012
1 561 662
955,311
1 598 578
958,859
1 676 708
1,012,106
1 453 652
975,391
1 548 168
948,833
1 564 697
986,422
1 511 781
985,115
1 584 987
974,842
1 572 680
1 320 040
941,659
1 350 586
978,145
1 393 694
1,045,676
1 409 223
1,073,860
1 398 697
1,137,357
1 442 691
942,401
1 373 594
1,046,791
1 353 076
1,059,574
1 409 673
965,365
1 391 977
1,030,553
1 392 188
1,014,736
349,890
174,012
340,391
181,409
347,229
200,655
341,155
187,578
348,770
200,027
348,100
200,972
351,966
201,131
343,856
204,732
332,945
197,112
340,855
202,753
330,970
209,349
624,203
274,134
642,851
286,653
677,573
305,505
665,026
301,513
666,102
299,756
699,595
298,781
683,488
314,161
667,371
309,866
658,811
309,672
662,393
309,254
655,705
311,222
331,262
96,237
350,980
106,084
344,439
106,840
355,136
108,597
344,126
110,085
347,268
106,947
338,986
103,469
343,762
106,285
348,332
107,340
340,737
107,747
348,125
104,172
2,297,649
1,398,643
2,339,688
1,457,532
2,389,276
1,562,796
2,406,324
1,574,363
2,386,937
1,653,518
2,468,061
1,453,314
2 374 837
1,569,894
2,325,338
1,583,660
2,368,688
1,475,240
2,344,254
1,554,168
2,357,833
1,545,689
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 2007
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Agency
Apr.
1 Federal and federally sponsored agencies
2 Federal agencies
3
Defense Department1
4
Export-Import Bank2-3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service1"
8
Tennessee Valley Authority
9
United States Railway Association1"
10 Federally sponsored agencies7
11
Federal Home Loan Banks
12 Federal Home Loan Mortgage Corporation . .
13 Federal National Mortgage Association
14 Farm Credit Bankss
15
Student Loan Marketing Association9
16 Financing Corporation10
17
Farm Credit Financial Assistance Corporation''
18
Resolution Funding Corporation12
n.a.
25.412
6
24.267
6
n.a.
207
n.a.
23,843
6
23,520
6
n.a.
110
23,520
6
3,337
6
n.a.
117
23,125
6
n.a.
87
3,192
6
n.a.
88
22,988
6
n.a.
88
n.a.
n.a.
3,331
n.a.
n.a.
n.a.
23,119
n.a.
n.a.
n.a.
3,186
n.a.
n.a.
n.a.
22,982
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.
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.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
24.261
n.a.
1,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
n.a.
854.815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
30,811
27,948
30^04
30,040
29,955
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.
16,961
n.a.
10,987
n.a.
n.a.
30,304
n.a.
n.a.
30,040
n.a.
n.a.
29,955
23,837
921,793
773,600
754,535
113,021
91,929
8,170
1,261
29,996
n.a.
n.a.
23,514
n.a.
23,514
MEMO
19 Federal Financing Bank debt"
20
21
22
23
24
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service1"
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association1"
Other lending*4
25 Farmers Home Administration . . . .
26 Rural Electrification Administration
27 Other
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
16,127
14,684
1. Consists of mortgages assumed by the Defense Department between 1957 and 1963
under family housing and homeowners' assistance programs.
2. Includes participation certificates reclassified as debt beginning Oct. 1, 1976.
3. On-budget since Sept. 30, 1976.
4. Consists of debentures issued in payment of Federal Housing Administration insurance
claims. Once issued, these securities may be sold privately on the securities market.
5. Certificates of participation issued before fiscal year 1969 by the Government National
Mortgage Association acting as trustee for the Farmers Home Administration; the Department
of Health, Education, and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
6. Off-budget.
7. Includes outstanding noncontingent liabilities: notes, bonds, and debentures. Includes
Federal Agricultural Mortgage Corporation; therefore, details do not sum to total. Some data
are estimated.
8. Excludes borrowing by the Farm Credit Financial Assistance Corporation, which is
shown on line 17.
9. Before late 1982, the association obtained financing through the Federal Financing Bank
(FFB). Borrowing excludes that obtained from the FFB, which is shown on line 22.
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
357,875
409,649
389,479
43,301
47,014
31,239
32,096
43,863
32,386
42,841
47,860
By type of issue
2 General obligation
3 Revenue
130.471
227,404
145,845
263,804
115,084
274,395
10,909
32,393
11,105
35,909
11,137
20,102
12,262
19,834
14,802
29,061
7,473
24,914
13,259
29,583
15,839
32,021
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township . . .
47,365
234,237
76,273
31,568
298,634
79,447
28,258
293,388
67,833
2,849
32,043
8,409
2,237
38,246
6,531
1,706
24,303
5,230
3,578
23,983
4,534
4,538
32,252
7,073
1,732
25,264
5,391
3,641
29,252
9,948
4,775
34,678
8,407
7 Issues for new capital
228,357
222,840
262,420
23,639
34,525
13,331
16,306
24,382
15,817
24,774
37,891
65,426
20,546
9,242
n.a.
19.050
80,438
70,963
25,427
9,899
n.a.
17.653
60,646
70,252
30,232
7,780
n.a.
34.989
72,663
5,881
2,783
814
n.a.
3.114
5,292
9,846
5,985
924
n.a.
6,316
5,728
4,135
1,046
158
n.a.
2.021
3,655
5,637
668
589
n.a.
1.542
4,771
6,835
1,357
1,078
n.a.
2.731
8,496
5,013
1,364
506
n.a.
1.563
3,940
6,098
2,078
941
n.a.
4.562
6,145
9,508
3,643
2,339
n.a.
4.579
11,833
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
2006
Type of issue, offering,
or issuer
1
1 All issues
By type of offering
3 Sold in the United States
2004
2005
2007
2006
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
2,070,680
2,438,989
2,710,028
202,721
260,310
272,056
199,239
237,463
328,777
190,210
303,465
1,923,094
2,323,735
2,590,863
192,906
242,944
260,467
183,863
225,280
312,339
178,829
286,368
1,737,342
185 752
2,141,496
182 238
2,318,379
272 483
173.165
19 740
190.990
51 954
241.053
19 413
166.599
17 265
204.610
20 670
273,357
38 981
166.251
12 578
259,498
26 870
21,942
22,221
18,262
1.027
2.272
1.021
403
721
2,623
1.084
2,665
259,968
1,663,127
216,072
2,107,662
344,005
2,246,858
22,166
170,740
59,332
183,612
30,328
230,139
16,044
167,819
26,361
198,919
53,345
258,994
27,424
151,404
51,794
234,574
147,585
115,255
119,165
9,816
17,366
11,590
15,375
12,183
16,439
11,381
17,097
147,585
n.a.
115,255
n.a.
119,165
n.a.
9,816
n.a.
17,366
n.a.
11,590
n.a.
15,375
n.a.
12,183
n.a.
16,439
n.a.
11,381
n.a.
17,097
n.a.
64,345
83,240
54.713
60,541
56.029
63,136
3.976
5,839
7.469
9,897
5.414
6,175
3.315
12,061
4.585
7,598
9.868
6,571
3.089
8,292
7.211
9,887
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 2007
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2006
Item
2005
2007
2006'
Dec.
Jan.
Feb.
Mar.
Apr.
May
June'
July
1 Sales of own shares2
1,755,210
2,011,206
180,876
230,667
198,887
207,243
211,044
215,669
208,059
217,877
2 Redemptions of own shares
1,563,022
192,188
1,784,564
226,642
160,476
20,400
182,782
47,885
153,977
44,910
181,606
25,637
176,774
34,270
191,062
24,607
194,350
13,709
201,611
16,266
6,864,286
8,058,864
8,058,864
8,214,520
8,210,243
8,330,376
8,638,069
8,896,555
8,842,461
8,681,983
302,923
6 561 363
338,921
7 719 943
338,921
7 719 943
363,938
7 850 582
357,926
7 852 317
335,140
7 995 236
337,720
8 300 349
340,372
8 556 183
329,069
8 513 392
322,682
8,359,301
4 Assets
4
5 Cash5
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51 DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE: Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2005
2006
2007
Q4
Q1'
Q2'
Q3'
Q4'
Q1'
Q2
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
1 494 0
566.5
451.5
476.0
1 622 4
601.8
479.2
541.4
1 732 7
640.3
498.0
594.4
1 622 4
601.8
479.2
541.4
1 634 6
591.2
482.8
560.6
1 672 1
602.8
497.4
572.0
1 710 3
628.3
490.4
591.6
1 732 7
640.3
498.0
594.4
1 728 4
643.1
505.4
579.8
1 729 8
657.3
509.3
563.2
53.0
26 3
44.7
24 5
49.2
26 6
44.7
24 5
44.4
23 5
45.3
23 5
48.4
24 7
49.2
26 6
50.8
25 5
50.5
25 5
1,414.7
673.8
1,553.2
535.7
1,656.9
486.5
1,553.2
535.7
1,566.8
527.6
1,603.4
499.6
1,637.2
482.9
1,656.9
486.5
1,652.1
497.6
1,653.7
505.9
2,088.5
2,088.8
2,143.3
2,088.8
2,094.4
2,103.0
2,120.1
2,143.3
2,149.7
2,159.7
136.9
175.3
142.1
160.0
129.2
165.3
142.1
160.0
137.4
151.0
136.9
152.7
131.5
164.0
129.2
165.3
138.1
159.1
153.5
154.0
257.7
817.4
471.8
229.4
312.2
806.5
423.6
244.4
338.5
849.6
424.3
236.4
312.2
806.5
423.6
244.4
319.0
810.9
427.7
248.4
327.4
832.6
415.7
237.5
336.7
824.0
421.1
242.8
338.5
849.6
424.3
236.4
330.8
836.3
438.2
247.1
348.3
827.2
439.4
237.3
2,088.5
2,088.8
2,143.3
2,088.8
2,094.4
2,103.0
2,120.1
2,143.3
2,149.7
2,159.7
LIABILITIES AND CAPITAL
10 Bank loans
11 Commercial paper
Debt
12 Owed to parent
14 All other liabilities
15 Capital, surplus, and undivided profits
16 Total liabilities and capital
NOTE: Some of the data presented in the table is available in the Board's monthly G.20
(422) statistical release, which is available at www.federalreserve.gov/releases.
1. Includes finance company subsidiaries of bank holding companies but not of retailers
and banks. Data are amounts carried on the balance sheets of finance companies; securitized
pools are not shown, as they are not on the books.
2. Before deduction for unearned income and losses. Excludes pools of securitized assets.
Securities Markets and Corporate Finance
1.52
DOMESTIC FINANCE COMPANIES
31
Owned and Managed Receivables'
Billions of dollars, amounts outstanding
Type of credit
Apr.
July'
Seasonally adjusted
1 Total
2
3
4
Consumer
Real estate
Business .
1,780.7'
1,895.3'
2,009.3'
737.1'
497.8'
545.8'
774.6'
561.5'
559.1'
818.4'
610.9'
580.0'
2,044.8
2,032.2'
831.9'
607.4'
583.1'
837.3'
608.3'
578.3'
841.8'
605.7'
584.7'
848.4
600.1
583.4
853.0
585.6
583.8
855.3
597.1
592.4
Not seasonally adjusted
5 Total
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Consumer
Motor vehicle loans
Motor vehicle leases
Revolving2
Other3
Securitized assets4
Motor vehicle loans
Motor vehicle leases . . . .
Revolving
Other
Real estate
One- to four-family
Other
Securitized real estate assets4
One- to four-family
Other
Business
Motor vehicles
Retail loans
Wholesale loans5
Leases
Equipment
Loans
Leases
Other business receivables'" .
Securitized assets4
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables'
1,795.4
1,910.9
2,026.2
743.9
298.3
74.1
50.4
143.7
781.4
278.0
85.3
66.3
172.3
825.4
259.8
106.0
79.9
194.7
827.8
249.7
109.1
75.6
202.1
830.8
254.2
110.7
72.9
205.3
835.6
253.9
112.5
73.6
841.4
252.5
114.6
74.5
211.9
846.8
251.7
116.3
75.1
214.2
851.0
255.7
117.8
75.3
216.2
98.2
4.8
23.1
51.3
501.3
422.0
54.0
112.6
4.2
14.9
47.8
565.0
489.8
51.6
3.6
15.9
52.8
614.8
538.1
56.2
116.9
3.5
19.2
51.8
606.3
533.4
52.2
112.1
3.5
20.9
51.3
599.7
527.4
52.5
111.6
3.4
22.0
50.3
601.2
528.6
52.6
112.2
3.4
23.2
49.3
600.3
527.3
52.9
113.4
3.4
24.3
48.3
591.0
517.6
53.2
110.1
3.3
24.3
48.2
599.1
525.4
53.5
21.8
3.5
550.2
84.8
15.1
44.9
24.8
273.4
87.8
185.6
93.3
18.9
4.8
564.5
105.5
15.2
61.2
29.0
281.9
93.6
188.3
91.8
16.8
3.7
586.0
105.1
17.1
55.7
32.3
299.5
102.4
197.1
93.5
16.7
4.0
584.4
104.3
17.6
54.5
32.2
303.7
104.7
198.9
94.3
15.7
4.1
585.2
106.3
17.8
56.3
32.2
304.9
106.7
198.2
94.2
15.6
4.4
590.9
105.9
18.0
55.7
32.2
311.6
109.8
201.8
93.2
15.5
4.6
590.2
106.3
18.1
55.7
32.5
313.6
111.1
202.6
91.1
15.4
4.8
589.9
108.3
18.1
56.9
33.3
309.5
106.7
202.8
91.5
15.3
4.8
583.1
103.6
18.1
52.3
33.3
309.1
106.5
202.6
91.8
44.8
2.2
40.6
2.0
23.6
11.5
12.1
30.2
28.8
2.7
26.0
.1
24.4
11.6
12.8
32.2
38.0
3.0
34.9
.1
15.4
9.9
5.5
34.6
37.3
2.9
34.3
.1
14.4
9.1
5.3
30.5
37.0
2.9
34.0
.1
14.5
9.4
5.1
28.3
38.4
2.9
35.5
.1
13.6
9.1
4.5
28.2
38.1
2.9
35.2
.1
12.9
9.0
3.9
28.1
40.3
2.9
37.3
38.8
2.9
35.9
.1
11.6
8.3
3.3
28.2
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
2,027.7
2,033.3
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 2007
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2007
Item
2004
2005
2006
Feb.
Mar.
Apr.
May
June
July
Aug.
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
292.0
215.0
76.0
28.8
.51
326.8
238.5
75.3
29.2
.54
345.7
253.4
75.4
29.5
.66
361.9
270.3
76.3
29.5
.74
369.0
270.5
75.3
29.3
.79
368.4
268.8
76.3
29.5
.82
355.0
265.8
77.0
29.4
.76
357.9
267.2
76.7
29.5
.88
356.1
270.1
77.6
29.4
.85
368.9
282.9
78.6
29.6
.88
5.68
5.75
n.a.
5.86
5.93
n.a.
6.50
6.60
n.a.
6.20
6.31
n.a.
6.10
6.22
n.a.
6.09
6.21
n.a.
6.11
6.22
n.a.
6.41
6.54
n.a.
6.58
6.70
n.a.
6.60
6.73
n.a.
n.a.
5.19
n.a.
5.13
n.a.
5.70
n.a.
5.64
n.a.
5.52
n.a.
5.64
n.a.
5.73
n.a.
6.15
n.a.
6.10
n.a.
5.90
SECONDARY MARKETS
Yield (percent per year)
10 GNMA securities6
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
904,555
n.a.
n.a.
727,545
n.a.
n.a.
724,400
n.a.
n.a.
712,145
n.a.
n.a.
712,806
n.a.
n.a.
710,586
n.a.
n.a.
718,257
n.a.
n.a.
722,475
n.a.
n.a.
729,840
n.a.
n.a.
728,886
n.a.
n.a.
14 Mortgage transactions purchased (during period)
262,646
146,641
196,017
10,359
16,452
9,964
21,776
16,936
21,219
16,429
Mortgage commitments (during period)
15 Issued7
16 To sells
149,429
8 828
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
652,936
n.a.
n.a.
710,017
n.a.
n.a.
703,629
n.a.
n.a.
709,175
n.a.
n.a.
714,454
n.a.
n.a.
709,220
n.a.
n.a.
711,449
n.a.
n.a.
712,136
n.a.
n.a.
720,629
n.a.
n.a.
732,219
n.a.
n.a.
n.a.
365,148
n.a.
397,867
n.a.
360,023
n.a.
38,962
n.a.
38,694
n.a.
35,336
n.a.
40,648
n.a.
40,818
n.a.
35,483
n.a.
35,348
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
13
Conventional
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end ofperiod)*
17 Total
18 FHA/VA insured
19
Conventional
Mortgage transactions (during period)
21 Sales
22 Mortgage commitments contracted (during period)9
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing
Finance Board in cooperation with the Federal Deposit Insurance Corporation.
2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the
seller) to obtain a loan.
3. Average effective interest rate on loans closed for purchase of newly built homes,
assuming prepayment at the end of ten years.
4. Average contract rate on new commitments for conventional first mortgages; from U.S.
Department of Housing and Urban Development (HUD). Based on transactions on the first
day of the subsequent month.
5. Average gross yield on thirty-year, minimum-downpayment first mortgages insured by
the Federal Housing Administration (FHA) for immediate delivery in the private secondary
market. Based on transactions on first day of subsequent month.
6. Average net yields to investors on fully modified pass-through securities backed by
mortgages and guaranteed by the Government National Mortgage Association (GNMA),
assuming prepayment in twelve years on pools of thirty-year mortgages insured by the
Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
7. Does not include standby commitments issued but includes standby commitments
converted.
8. Includes participation loans as well as whole loans.
9. Includes conventional and government-underwritten loans. The Federal Home Loan
Mortgage Corporation's mortgage commitments and mortgage transactions include activity
under mortgage securities swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
Real Estate
1.54
33
MORTGAGE DEBT OUTSTANDING1
Millions of dollars, end of period
Type of holder and property
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
Q2>
13,337,070
13,549,040
13,981,770
9,353,340
10,656,390
12,112,690
7,183,087
555,522
1,509,620
105,110
8,257,106
608,606
1,680,277
110,406
9,386,817
679,062
1,931,935
114,872
9,872,509
702,212
2,050,649
117,364
10,105,040
713,445
2,124,885
118,630
10,287,960
729,120
2,200,087
119,897
10,426,390
740,919
2,260,705
121,027
10,749,660
777,775
2,343,794
110,535
3,386,964
2,255,825
1,349,385
104,690
762,335
39,415
870,195
702,525
77,934
89,104
632
260,944
4,403
38,556
203,946
14,039
3,925,694
2,595,334
1,575,779
118,643
859,855
41,057
1,057,036
873,920
87,537
94,980
599
273,324
4,998
40,453
214,085
13,788
4,394,752
2,956,557
1,786,497
138,702
987,887
43,471
1,152,732
953,810
98,349
99,957
616
285,463
4,585
42,440
224,258
14,180
4,648,735
3,132,032
1,889,521
145,038
1,052,827
44,646
1,221,011
1,012,006
102,435
105,874
696
295,692
5,512
43,792
231,707
14,681
4,730,680
3,181,315
1,897,487
147,693
1,090,891
45,244
1,248,957
1,033,744
103,740
110,707
766
300,408
5,986
44,431
235,080
14,911
4,780,754
3,402,987
2,076,445
157,547
1,123,154
45,841
1,073,967
867,831
95,792
109,604
740
303,800
6,730
44,761
236,719
15,590
4,800,258
3,378,629
2,030,136
158,936
1,143,284
46,273
1,117,242
911,540
93,589
111,333
780
304,387
6,740
44,847
237,179
15,621
4,886,757
3,462,137
2,081,919
160,726
1,178,415
41,077
1,112,818
905,281
92,570
114,161
806
311,802
6,869
45,458
243,463
16,012
537,131
50
50
0
69,546
13,964
11,613
40,529
3,439
4,192
1,304
2,887
0
0
0
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
554,997
34
34
0
72,937
13,014
11,493
45,213
3,217
4,819
1,370
3,449
0
0
0
0
0
8
1
558,190
29
29
0
75,918
12,935
11,401
48,396
3,186
4,912
1,632
3,280
0
0
0
0
0
561,016
27
27
0
76,448
12,918
11,374
48,945
3,212
5,023
1,625
3,398
0
0
0
0
0
562,941
26
26
0
77,264
12,819
11,340
49,919
3,186
5,013
1,679
3,335
0
0
0
0
0
15
5
0
255,006
219,279
35,727
54,640
14,621
40,019
61,481
20,396
41,085
804
804
557,941
31
31
0
75,097
12,975
11,423
47,499
3,200
4,830
1,615
3,215
0
0
0
0
0
4
1
1
2
0
255,016
219,289
35,727
56,674
15,189
41,485
63,704
21,133
42,571
787
787
1
1
2
0
255,000
219,273
35,727
57,774
15,544
42,230
64,077
21,257
42,820
770
770
254,997
219,270
35,727
59,897
16,922
42,975
65,847
21,844
44,003
778
778
10
0
254,963
219,236
35,727
61,451
18,071
43,380
67,136
22,272
44,864
748
748
699,472
25
25
0
77,978
12,893
11,318
50,564
3,204
5,115
1,687
3,428
0
0
0
0
0
6
1
1
4
0
389,934
329,272
60,662
62,902
18,449
44,453
68,350
21,219
47,131
754
754
0
0
0
968,371
610,740
66,620
291,010
0
1,003
1,003
4,965,850
441,235
409,089
32,147
1,204,239
1,187,489
16,750
1,895,761
1,819,931
75,830
0
0
0
0
0
1,423,676
1,013,757
73,068
336,851
0
938
938
5,791,117
405,246
371,484
33,762
1,330,795
1,312,284
18,511
1,940,079
1,862,476
77,603
0
0
0
0
0
2,114,153
1,592,439
89,626
432,088
0
844
844
6,097,895
405,435
370,469
34,966
1,400,955
1,381,468
19,487
2,004,453
1,924,275
80,178
0
0
0
0
0
2,285,239
1,728,746
93,393
463,099
0
1,813
1,813
6,301,457
409,478
373,981
35,497
1,436,525
1,416,544
19,981
2,043,037
1,961,316
81,721
0
0
0
0
0
2,409,310
1,828,879
95,742
484,689
0
3,107
3,107
6,507,032
410,196
374,062
36,135
1,472,294
1,451,815
20,479
2,078,829
1,995,676
83,153
0
0
0
0
0
2,542,529
1,923,565
101,280
517,685
0
3,183
3,183
6,699,590
413,217
377,061
36,157
1,531,796
1,510,489
21,307
2,127,130
2,042,045
85,085
0
0
0
0
0
2,624,045
1,962,603
109,478
551,964
0
3,402
3,402
6,934,306
417,136
380,925
36,211
1,587,795
1,565,710
22,085
2,094,251
2,010,481
83,770
0
0
0
0
0
2,830,445
2,120,175
116,278
593,991
0
4,679
4,679
971,749
758,520
79,426
122,682
11,122
1,211,031
982,293
84,260
132,129
12,349
1,371,821
1,129,273
88,299
142,528
11,721
1,438,163
1,188,496
89,971
149,640
10,056
1,471,677
1,216,745
91,396
155,120
8,416
1,488,266
1,221,252
95,457
163,978
7,578
1,486,254
1,215,376
96,224
167,016
7,637
1,461,232
1,200,378
98,108
163,196
-450
23
4
4
15
0
239,433
219,867
19,566
49,307
14,837
34,470
60,270
27,274
32,996
990
990
4,457,496
473,738
444,820
28,918
1,157,339
1,141,241
16,098
1,857,045
1,780,884
76,161
0
2
7
0
249,515
222,535
26,980
52,793
15,240
37,553
61,360
23,389
37,971
887
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 2007
1.55
TOTAL OUTSTANDING CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
2006
Holder and type of credit
2004
2005
2007
2006
Dec.
Jan.'
Feb.'
Mar.'
Apr.'
May
Seasonally adjusted
1 Total
2,191,296'
2,284,727'
2,388,464'
2,388,464'
2,396,805
2,403,600
2,418,252
2,422,108
2,437,244
2 Revolving
799,990'
1 391 306r
824,814'
1,459,913'
876,412'
1,512,052'
876,412'
1,512,052'
878,385
1,518,420
881,878
1,521,722
889,484
1,528,769
889,559
1,532,549
897,657
1,539,587
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
Federal government and Sallie Mae
26
27
Nonfinancial business
Pools of securitized assets3
2,219,382'
2,313,708'
2,419,288'
2,419,288'
2,416,728
2,402,594
2,402,053
2,408,773
2,422,898
704,270
492,346
215,384
86,074'
91,300
57,938
572,070
707,039
516,534
228,588
89,822'
109,077
58,060
604,589
741,213
534,354
234,532
91,676'
95,547
56,177
665,789
741,213
534,354
234,532
91,676'
95,547
56,177
665,789
742,420
532,064
234,410
94,921
95,214
54,303
663,395
725,923
527,352
233,091
95,098
94,914
52,669
673,548
723,278
532,366
232,671
95,114
94,581
52,285
671,759
729,115
535,694
234,048
94,826
95,433
52,356
667,301
735,713
538,808
235,331
94,652
96,313
52,685
669,397
823,679
314,649
50,382
23,244
n.a.
27,907
11,740
395,757
849,821
311,204
66,307
24,688
n.a.
40,755
10,841
396,026
903,353
327,344
79,874
27,388
n.a.
42,459
7,198
419,090
903,353
327,344
79,874
27,388
n.a.
42,459
7,198
419,090
888,940
316,767
77,810
27,042
n.a.
42,168
6,801
418,352
880,176
302,589
75,596
26,839
n.a.
41,904
6,582
426,666
877,297
299,159
72,947
26,759
n.a.
41,613
6,397
430,421
882,482
304,667
73,595
27,198
n.a.
41,569
6,488
428,966
890,444
307,883
74,454
27,749
n.a.
41,523
6,486
432,349
1 395 703r
389,621
441,964
192,140
86,074'
63,393
46,198
176,314
1 463 887'
395,835
450,226
203,900
89,822'
68,322
47,219
208,564
1515 934'
413,869
454,480
207,144
91,676'
53,088
48,980
246,699
1,515,934'
413,869
454,480
207,144
91,676'
53,088
48,980
246,699
1,527,788
425,653
454,253
207,368
94,921
53,047
47,502
245,043
1,522,418
423,334
451,756
206,252
95,098
53,009
46,086
246,882
1,524,756
424,119
459,419
205,912
95,114
52,968
45,888
241,338
1,526,291
424,448
462,099
206,850
94,826
53,864
45,868
238,335
1,532,453
427,830
464,355
207,582
94,652
54,790
46,198
237,047
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
2007
2006
Item
2004
2005
2006
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
INTEREST RATES
Commercial banks2
1 48-month new car
2 24-month personal
6.60
11.89
7.08
12.05
7.72
12.41
7.92
12.49
n.a.
n.a.
n.a.
n.a.
7.74
12.32
n.a.
n.a.
n.a.
n.a.
7.92
12.57
Credit card plan
3 All accounts
4 Accounts assessed interest
12.71
13.21
12.51
14.54
13.21
14.73
13.31
15.09
n.a.
n.a.
n.a.
n.a.
13.41
14.64
n.a.
n.a.
n.a.
n.a.
13.46
14.47
4.36
8 96
5.46
9 03
4.96
9 67
5.52
10 04
5.92
10 05
6.45
9 45
4.00
9 32
3.89
9 29
5.04
9 20
4.88
9 35
60.5
56 8
60.0
57 6
62.3
57 5
62.0
57 5
62.0
57 3
62.0
58 6
59.5
59 2
58.3
59 3
57.8
59 4
61.1
59 4
89
100
88
98
91
99
94
100
91
101
90
100
91
100
91
100
92
102
94
103
24,888
15,136
24,133
16,228
25,958
16,671
26,307
16,596
25,937
16,712
25,983
16,916
26,866
16,962
26,998
17,044
27,013
16,979
27,163
16,938
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
1,155.6'
1,402.4'
1,677.3
1,980.5
2,185.2
2,275.6
2,618.0
2,182.4
1,994.4
2,377.4
2,264.8
2
3
4
5
6
7
8
9
10
11
12
13
14
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
-83.0
-5.1
-.5
122.8
347.7
-87.2
4.4
705.8'
551.5'
40.3
110.3'
3.8'
150.7'
-57.9
257.1
.5
159.4
132.3
-106.6
15.7
893.9'
758.6'
36.8
91.7'
6.9'
107.9'
-35.1
398.4
-2.4
137.6
158.3
-77.0
5.5
987.6
798.1
71.0
119.9
-1.3
104.4
16.8
362.5
-.6
130.5
77.7
10.8
20.4
1,247.3
1,043.4
51.1
150.1
2.7
115.0
-7.9
307.3
-.4
194.8
59.9
137.6
47.7
1,351.9
1,038.2
72.5
236.5
4.6
94.3
-89.9
352.1
.8
170.8
75.5
248.9
50.1
1,410.9
1,004.9
98.6
302.3
5.0
56.5
18.8
377.0
-1.0
114.5
211.0
208.2
65.1
1,568.1
1,258.1
65.1
237.2
7.7
56.4
16.8
49.7
.2
172.7
204.1
99.0
93.9
1,414.3
1,114.1
50.2
243.1
6.9
131.8
-37.7
172.4
-1.0
169.4
138.6
163.1
-30.0
1,293.5
961.7
44.5
279.8
7.6
126.0
95.6
135.8
.5
257.0
320.9
223.2
60.1
1,176.2
809.5
77.0
281.8
7.9
108.1
-1.6
327.5
-1.3
248.4
284.8
115.7
69.7
1,102.5
795.2
39.7
264.2
3.3
119.2
31.3
-70.7
-.1
279.4
388.0
105.7
64.2
1,158.3
756.4
66.3
333.2
2.4
123.6
15
16
17
18
19
20
21
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
671.5'
384.0'
215.2
162.2
6.7'
105.7
-5.6
832.9'
168.0'
12.8
148.0
7.1'
143.9
257.6
980.2
180.8
90.4
92.1
-1.6
120.3
396.0
1,082.4
420.9
170.1
244.7
6.1
115.3
361.9
1,114.1
592.8
252.8
327.3
12.7
171.4
306.9
1,120.2
660.9
221.7
422.0
17.3
141.5
352.9
1,293.6
845.4
479.7
345.8
19.9
103.1
376.0
1,273.8
722.2
394.2
311.2
16.7
136.6
49.9
1,080.1
595.4
254.5
327.0
13.9
147.5
171.4
1,015.3
1,003.5
626.3
354.2
22.9
222.4
136.3
907.6
807.4
519.9
266.9
20.6
223.6
326.2
925.6
979.3
625.9
348.4
5.1
245.5
-70.8
22 Foreign net borrowing in United States
-13.7
92.9
36.9
124.8
102.8
122.5
125.0
114.2
515.2
247.1
141.8
254.7
23
24
25
26
15.8
-18.5
-7.3
-3.8
58.3
31.6
5.3
-2.3
12.9
28.7
-2.5
-2.1
62.8
61.8
3.8
-3.6
38.5
54.5
14.5
-4.6
59.1
25.0
41.5
-3.2
68.3
60.8
5.2
-9.3
-53.2
144.6
30.8
-8.0
355.0
180.2
-12.2
-7.7
2.2
218.0
31.6
-4.6
-7.6
174.8
-22.5
-3.0
19.2
191.1
47.2
-2.9
1,495.3'
1,714.3
2,105.3
2,288.0
2,398.1
2,743.0
2,296.6
2,509.6
2,624.5
2,406.6
1 Total net borrowing by domestic nonfinancial sectors
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total domestic plus foreign
1,141.9'
Financial sectors
871.1'
869.3'
1,052.6
979.8
1,092.1
1,483.1
1,344.2
1,654.6
996.5
1,131.6
1,377.4
1,422.8
29
30
31
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
124.5'
304.1
338.5
306.6'
18.7
25.5
2.2
-99.5'
219.8
326.8
383.3'
21.1
6.8
11.0
-59.7
250.9
330.6
470.0
21.4
31.2
8.2
26.6
75.0
62.7
657.4
58.1
74.1
25.9
214.5
-84.0
174.2
712.2
17.0
44.4
13.9
213.0
138.3
258.3
817.4
35.9
29.3
-9.0
206.0
-.5
318.2
761.8
18.9
20.8
19.0
333.2
204.7
299.6
787.6
-15.7
38.1
7.1
83.5
-73.9
284.2
707.8
-42.8
29.9
7.8
180.2
50.3
278.7
848.9
-216.8
-3.9
-5.8
222.9
28.9
499.4
621.0
51.0
-30.5
-15.2
360.1
98.5
543.9
364.6
47.1
.4
8.2
36
37
38
39
40
41
42
43
44
45
46
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Finance companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
52.9
-2.0
1.5
.6
304.1
338.5
255.9'
10.9
3.2
1.4
-96.0'
49.7
-23.4
2.0
2.0
219.8
326.8
212.5'
66.2
27.3
-1.7
-11.9'
48.5
34.5
2.2
2.9
250.9
330.6
226.4
111.1
31.5
6.4
7.6
78.4
89.0
2.3
3.0
75.0
62.7
415.3
134.3
98.3
15.2
6.1
85.1
23.8
3.3
.4
-84.0
174.2
689.5
33.5
59.8
.1
106.5
62.0
34.0
8.1
.6
138.3
258.3
761.5
176.1
7.2
-33.4
70.3
85.7
.5
-.2
2.8
-.5
318.2
750.7
17.7
61.4
35.1
72.7
171.8
-1.8
6.8
1.3
204.7
299.6
727.9
89.1
56.5
6.5
92.0
51.6
17.1
2.0
2.4
-73.9
284.2
757.8
-36.6
32.8
5.0
-45.8
400.6
-463.3
8.4
4.3
50.3
278.7
767.8
69.0
14.0
-20.9
22.6
90.7
-20.5
-10.5
4.9
28.9
499.4
573.3
13.9
2.2
59.5
135.7
147.2
-24.8
10.6
12.6
98.5
543.9
524.3
7.2
4.2
39.9
59.3
28 Total net borrowing by financial sectors
36
Federal Reserve Bulletin Statistical Supplement • September 2007
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS1—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q4'
Ql'
Q2'
Q3'
Q4'
Ql'
Q2
47 Total net borrowing, all sectors . . . .
2,013.0'
2,364.6'
2,766.8
3,085.1'
3,380.1
3,881.2
4,087.1
3,951.1
3,506.1
3,756.1
3,784.0
3,757.2
48
49
50
51
52
53
54
55
56
-191.6'
-5.1
642.1
122.8
635.8'
-75.8
26.1
708.0'
150.7'
-99.1'
257.1
547.2
159.4
547.2'
-80.2
20.2
904.8'
107.9'
-82.0
398.4
579.1
137.6
657.0
-58.1
34.6
995.8
104.4
106.2'
362.5
137.1'
130.5
796.9'
72.7'
90.9
1,273.2'
115.0'
245.1
307.3
89.7
194.8
826.6
169.1
87.4
1,365.8
94.3
182.2
352.1
397.4
170.8
917.9
326.2
76.2
1,401.9
56.5
293.0
377.0
316.7
114.5
1,033.6
232.3
76.5
1,587.2
56.4
296.7
49.7
504.6
172.7
1,136.2
114.2
123.9
1,421.4
131.8
400.8
172.4
209.3
169.4
1,026.5
108.1
-7.8
1,301.3
126.0
278.0
135.8
329.5
257.0
1,387.7
37.9
51.6
1,170.5
108.1
213.7
327.5
527.0
248.4
1,080.6
144.2
36.2
1,087.3
119.2
410.7
-70.7
642.2
279.4
943.7
200.0
61.7
1,166.5
123.6
Open market paper
Treasury securities
Agency- and GSE-backed securities . .
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
Funds raised through mutual funds and corporate equities
57 Total net issues .
303.2
227.4
427.5
364.6
108.0
85.0
91.2
-155.3
-275.2
15.6
209.3
-77.6
58 Corporate equities
59
Nonfmancial corporations
60
Foreign shares purchased by U.S. residents . .
61
Financial corporations
62 Mutual fund shares
98.3
-48.1
109.1
37.3
204.9
46.4
-41.6
17.0
71.0
181.1
138.9
-42.0
118.0
62.9
288.6
66.4
-126.6
84.8
108.2
298.2
-152.2
-363.4
142.6
68.6
260.2
-145.1
-419.2
170.6
103.6
230.1
-384.2
-569.6
170.0
15.4
475.4
-423.7
-601.6
91.4
86.5
268.4
-512.7
-534.0
41.8
-20.5
237.6
-348.2
-751.2
251.0
152.0
363.8
-315.3
-572.8
174.0
83.5
524.6
-552.2
-770.0
161.1
56.7
474.6
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.2
through F.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q4'
Ql'
Q2'
Q3'
Q4'
Ql'
Q2
NET LENDING IN CREDIT MARKETS2
1 Total net lending in credit markets
2 Domestic nonfinancial sectors
3
Household
4
Nonfinancial corporate business
5
Nonfarm noncorporate business
6
State and local governments
7
Federal government
8 Rest of the world
9 Financial sectors
10
Monetary authority
11
Commercial banking
12
U.S.-chartered commercial banks
13
Foreign banking offices in United States . .
14
Bank holding companies
15
Banks in U.S.-affiliated areas
16
Savings institutions
17
Credit unions
18 Property-casualty insurance companies . . . .
19 Life insurance companies
20
Private pension funds
21
State and local government retirement funds
22
Federal government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Exchange-traded funds
27
Government-sponsored enterprises
28 Agency- and GSE-backed mortgage pools
29
Asset-backed securities issuers (ABSs)
30
Finance companies
31
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
2,013.0'
2,364.6'
2,766.8
3,085.1
3,380.1
3,881.2
4,087.1
3,951.1
3,506.1
3,756.1
3,784.0
3,757.2
15.9'
-86.1'
-4.7
7.1
93.9
5.7'
302.1
1,695.0'
39.9
205.2
191.6
-.6
4.2
10.0
44.4
41.5
9.0
130.9
-36.0
-53.8
9.7'
267.3
126.6
3.2
.0
304.7
338.5
244.0'
49.9'
8.6
92.4
-130.9'
193.1'
77.0'
25.8
-.8
86.2
4.9'
430.5
1,741.0'
77.7
404.4
393.8
6.2
3.1
1.3
33.4
44.2
39.9
233.0
-8.6
-50.7
12.7'
-17.7
138.7
8.6
3.7
224.1
326.8
219.0'
103.7
23.8
28.4
-104.1'
167.6
113.1
-3.2
1.5
58.3
-2.1
516.3
2,082.9
37.2
332.9
352.2
-38.5
8.6
10.6
127.3
51.2
67.0
180.6
69.2
11.2
6.0
-95.9
138.0
35.5
.7
241.0
330.6
232.9
122.9
25.7
79.6
89.2
379.6
270.3
30.5
11.5
64.5
2.7
772.5
1,933.1
51.2
608.0
571.1
23.0
.0
13.9
103.5
39.8
73.6
173.0
-.3
27.2
4.7
-124.9
116.6
11.0
3.8
48.9
62.7
416.4
214.9
87.9
-29.2
44.4
264.3
104.2
48.6
13.7
100.5
-2.7
778.4
2,337.5
26.4
658.4
507.9
144.5
-4.2
10.2
199.3
36.2
66.9
110.3
12.5
-2.8
7.7
-5.5
124.1
1.5
6.8
-69.1
174.2
670.4
117.2
66.9
82.3
53.7
498.9
356.5
55.0
17.3
69.6
.5
956.9
2,425.3
13.7
434.0
330.7
85.1
9.4
8.8
152.6
38.5
22.1
59.4
34.7
6.7
3.0
226.1
108.3
-3.3
4.8
-25.0
258.3
724.3
217.3
20.9
222.2
-93.4
227.0
141.9
47.2
12.9
14.8
10.2
769.5
3,090.7
60.0
834.5
739.8
83.8
6.8
4.1
86.8
58.2
60.1
156.6
7.5
-9.1
5.4
116.2
228.7
10.4
3.0
73.9
318.2
738.1
110.5
40.5
-19.7
210.8
296.1
204.1
16.8
9.5
54.6
11.1
909.7
2,745.3
36.1
783.0
662.3
136.9
-8.0
-8.2
122.3
26.6
48.3
89.6
48.0
59.4
17.8
185.3
147.6
16.5
9.1
91.3
299.6
709.4
96.0
57.7
63.4
-161.7
242.4
236.1
-48.5
12.0
56.8
-14.0
754.2
2,509.5
21.4
154.5
57.3
94.0
6.6
-3.3
258.1
7.9
31.8
48.6
38.9
7.9
7.7
329.1
130.8
-5.0
2.8
-30.4
284.2
725.0
158.1
44.5
162.5
130.9
280.3
74.8
59.7
12.1
124.8
8.9
932.7
2,543.2
21.4
1,274.7
1,165.9
100.3
8.0
.5
-859.7
27.7
50.6
in
41.6
83.1
2.5
250.2
232.6
5.5
7.9
48.6
278.7
730.7
-5.8
87.1
218.5
39.5
144.5
24.8
59.6
10.2
29.6
20.3
990.2
2,649.3
13.0
194.5
29.7
188.2
-16.8
-6.5
189.1
42.9
32.8
67.4
60.7
12.5
14.9
370.0
285.2
-.3
6.8
-93.6
499.4
580.8
56.5
-36.2
277.6
75.2
205.4
111.5
-12.0
12.5
79.7
13.7
828.8
2,722.9
44.7
689.8
498.2
194.8
-5.3
2.0
67.4
27.2
67.4
69.9
64.3
10.0
3.4
350.8
331.7
23.2
15.6
60.1
543.9
488.8
-44.0
-26.9
-164.1
99.6
2,013.0'
2,364.6'
2,766.8
3,085.1
3,881.2
4,087.1
4.3
.0
1.3
6.8
-28.0
156.8
314.6
68.5
428.5
23.7
98.3
204.9
-84.6'
3.1
77.2
266.3
14.4
-19.8'
663.3'
3.2
.0
1.0
21.0
17.4
-8.3
325.4
50.0
-16.7
106.6
46.4
181.1
86.7'
-87.0
60.1
219.7
22.2
-84.1'
501.7'
-.9
.0
.6
36.0
-14.5
85.0
307.4
55.8
-207.5
218.7
138.9
288.6
22.4
120.0
66.8
233.5
-1.1
34.5
522.4
-3.2
.0
.7
89.9
19.4
84.8
281.6
252.9
-136.5
88.1
66.4
298.2
180.0
179.4
33.1
263.5
28.5
-15.1
1,604.7
16.1
183.5
26.9
-76.0
1,311.1
-19.5
.0
.3
23.5
-45.6
40.4
289.8
194.3
317.1
170.9
-145.1
230.1
228.8
-83.4
10.9
218.8
53.5
-96.8
642.7
-2.3
.0
.6
216.3
-9.9
44.0
239.6
395.1
150.2
483.9
-384.2
475.4
82.4
220.2
57.8
17.8
25.9
-58.0
1,151.0
2.0
.0
.8
282.0
-198.3
29.2
232.7
308.8
274.2
278.8
-423.7
268.4
306.4
178.7
53.1
163.2
5.4
-67.5
1,011.5
-4.2
.0
1.0
-38.7
45.6
-73.0
336.8
344.7
411.4
602.2
-512.7
237.6
57.5
173.0
76.3
43.1
22.1
-43.0
1,519.4
-5.9
.0
.0
-64.4
116.7
-62.8
566.3
-3.6
387.0
619.1
-348.2
363.8
191.4
274.2
75.4
221.5
29.3
-73.6
875.0
.1
.0
.4
284.6
-488.6
79.4
384.7
291.3
440.7
698.0
-315.3
524.6
171.2
113.5
26.9
115.2
33.4
28.7
812.9
.0
1.3
455.3
57.4
-92.2
200.4
102.0
441.5
139.2
-552.2
474.6
219.8
313.2
62.6
66.6
13.0
-57.2
3,152.6
4,673.3
6,401.4
6,374.6
5,911.8
7,192.8
6,656.7
6,705.1
6,917.3
6,985.8
8,754.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Netflowsthrough credit markets
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
Other financial sources
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank transactions
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Corporate equities
Mutual fund shares
Trade payables
Security credit
Life insurance reserves
Pension fund reserves
Taxes payable
Noncorporate proprietors' equity
Miscellaneous
54 Total financial sources
55
56
57
58
59
60
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
61 Federal government checkable deposits
62 Other checkable deposits
63 Trade credit
64 Total identified to sectors as assets .
4,212.6'
-9.6
.0
.8
67.8
-12.4
3.5
314.4
284.4
127.0
350.8
-152.2
260.2
298.0
-12.9
17.2
-51.2
20.1
-223.8'
-.6
21.5
7.2
36.0
19.7'
-62.2'
-.3
52.8
-4.3
-32.4
-42.6
-54.2
-.3
61.9
14.9
-136.8
-20.2
161.8
.7
40.6
-3.7
136.5
-18.1
206.4
-.1
23.5
7.9
94.3
6.4
168.8
-4.8
203.6
11.6
221.2
-42.0
-154.1
296.1
4.5
421.3
1.9
-530.4
.6
38.5
48.1
201.2
24.1
-188.0
-.5
-141.3
-71.8
525.3
23.7
253.2
359.7
48.8
-242.2
-28.9
-368.6
.7
442.6
-52.1
20.7
-24.2
145.2
5.7
-.5
7.9'
-1.6
-.7
164.7'
-8.9
.0
38.1
27.9
7.6
-6.6
-.1
-72.0
-11.7
.0
-174.9
-11.3
.0
-83.9
2.1
.0
-18.1
16.4
.0
-149.1
-19.1
.0
48.0
-5.9
-.1
32.8
-.5
-.2
-21.3
4,450.3'
3,626.9'
4,725.1
6,284.9
6,090.8
5,797.5
7,052.3
6,479.0
6,713.4
6,299.9
7,190.5
8,244.0
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.
38
1.59
Federal Reserve Bulletin Statistical Supplement • September 2007
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
2005
Transaction category or sector
2002
2003'
2004'
2006
2007
2005'
Q4'
Ql'
Q2'
Q3'
Q4'
Ql'
Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
20,615.8'
22,325.5
24,320.7
26,505.9
26,505.9
27,145.1
27,657.0
28,166.0
28,795.7
29,377.2
29,868.9
2
3
4
5
6
7
8
9
10
11
12
13
14
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities and loans
Corporate bonds
Bank loans n e e
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
119.9
3 609 8
27.3
1,762.9
2,710.3
1 133 0'
949.9
8 302 8'
6.436.6'
464.2'
1,306.6'
95.4'
1.999.9'
84.8
4 008 2
24.9
1,900.5
2,868.6
1,088.4
955.4
9,290.4
7,226.8
543.0
1,426.5
94.1
2.104.4
101.6
4 370 7
24.3
2,031.0
2,946.3
1,099.2
975.8
10,552.5
8,285.0
594.1
1,576.6
96.9
2.219.4
93.8
4,678.0
23.8
2,225.8
3,006.2
1,236.8
1,023.5
11,904.4
9.323.2
666.6
1,813.0
101.5
2.313.7
93.8
4,678.0
23.8
2,225.8
3,006.2
1,236.8
1,023.5
11,904.4
9.323.2
666.6
1,813.0
101.5
2.313.7
100.4
4,834.4
23.6
2,254.2
3,058.9
1,283.1
1,028.5
12,278.8
9,625.5
682.9
1,867.1
103.4
2.283.2
115.4
4,759.6
23.6
2,305.6
3,110.0
1,316.4
1,063.5
12,647.6
9,917.2
695.4
1,929.7
105.2
2.315.4
114.2
4,803.2
23.4
2,332.6
3,144.6
1,361.6
1,040.7
12,977.5
10,166.6
706.5
1,997.2
107.1
2.368.2
117.1
4,861.7
23.5
2,404.2
3,224.8
1,410.2
1,067.5
13,267.4
10,359.0
725.8
2 073.5
109.0
2.419.3
130.2
5,014.3
23.2
2,466.3
3,296.0
1,441.6
1,076.8
13,526.8
10,547.0
735.7
2 134.3
109.8
2.402.1
159.5
4,904.0
23.2
2,542.8
3,393.0
1,477.1
1,104.3
13,832.0
10,749.7
752.3
2,219.5
110.5
2.432.9
15
16
17
18
19
20
21
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
8.513.2'
7,018.2'
4,741.7'
2,106.7
169.8'
1,447.3
3,637.0
9.495.8
7,229.1
4,862.2
2,198.8
168.1
1,567.6
4,033.1
10.592.9
7,650.0
5,032.3
2,443.5
174.2
1,682.8
4,395.0
11.707.0
8,242.8
5,285.0
2,770.8
186.9
1,854.2
4,701.9
11.707.0
8,242.8
5,285.0
2,770.8
186.9
1,854.2
4,701.9
11.975.9
8,430.8
5,386.3
2,856.9
187.6
1,880.4
4,858.0
12.308.2
8,643.6
5,513.8
2,935.0
194.8
1,921.9
4,783.2
12.612.6
8,781.4
5,566.3
3,015.4
199.7
1,945.4
4,826.6
12.872.7
9,031.1
5,720.5
3,105.3
205.3
2,006.6
4,885.3
13.046.6
9,230.0
5,852.4
3,171.6
206.0
2,063.1
5,037.4
13.292.1
9,519.4
6,050.1
3,259.1
210.2
2,130.2
4,927.2
22 Foreign credit market debt held in
United States
1,072.3
1,249.7
1,431.3
1,514.9
1,514.9
1,549.7
1,572.7
1,701.3
1,767.0
1,782.6
1,839.1
254.2
705.2
68.6
44.3
267.1
874.4
66.1
42.2
329.9
993.0
69.9
38.6
368.4
1.028.2
84.4
34.0
368.4
1.028.2
84.4
34.0
389.0
1.043.4
85.7
31.6
370.1
1.079.5
93.4
29.7
458.6
1.124.6
90.4
27.7
461.4
1.180.8
98.3
26.6
459.2
1.224.5
73.1
25.8
456.8
1.272.3
84.9
25.1
23,575.2
25,752.1
28,020.8
28,020.8
28,694.8
29,229.7
29,867.3
30,562.7
31,159.8
31,708.0
23
24
25
26
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total credit market debt owed by nonfinancial
sectors, domestic and foreign
21,688.1'
Financial sectors
28 Total credit market debt owed by
financial sectors
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool
securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
47
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Brokers and dealers
Finance companies
Real estate investment trusts (REITs)
Funding corporations
29
30
31
9,996.9'
10,872.9
11,867.6
12,905.2
12,905.2
13,216.5
13,630.8
13,876.8
14,184.3
14,508.0
14,865.6
1.000.7'
2,350.4
941.0
2,601.3
967.6
2,676.3
1,182.1
2,592.2
1.182.1
2,592.2
1.209.0
2,592.1
1.279.5
2,643.3
1.292.5
2,624.8
1.379.5
2,637.4
1.414.3
2,644.6
1.493.5
2,669.3
3,158.6
2 777 6'
142.6'
470.5
96.5
3,326.7
3,233.6
164.0
501.7
104.7
3,389.5
3,905.8
222.1
575.8
130.6
3,563.7
4,563.5
239.1
620.2
144.5
3,563.7
4,563.5
239.1
620.2
144.5
3,641.1
4,768.8
239.5
616.9
149.2
3,703.3
4,975.1
237.2
641.5
151.0
3,784.7
5,149.0
229.0
643.7
153.0
3,858.8
5,340.8
175.0
641.4
151.5
3,981.5
5,512.1
183.3
624.4
147.7
4,103.9
5,610.9
196.4
642.0
149.8
325.5
286.4
262.3
6.9
5.1
2.350.4
3,158.6
1,950.8'
40.6
884.2'
198.5
527.6'
338.6
321.8
296.8
9.1
8.0
2.601.3
3,326.7
2,163.2
47.0
995.3
230.0
535.2
357.4
381.3
385.8
11.4
11.1
2.676.3
3,389.5
2,578.5
62.2
1.129.6
343.2
541.3
394.3
429.5
409.6
14.7
11.5
2.592.2
3,563.7
3,268.0
62.4
1.108.6
402.9
647.9
394.3
429.5
409.6
14.7
11.5
2.592.2
3,563.7
3,268.0
62.4
1.108.6
402.9
647.9
398.4
438.7
406.1
14.6
12.2
2.592.1
3,641.1
3,453.0
71.1
1.099.3
418.2
671.7
422.6
467.0
411.2
16.3
12.5
2.643.3
3,703.3
3,641.0
72.8
1.122.2
432.4
686.2
424.1
476.2
412.4
16.8
13.1
2.624.8
3,784.7
3,821.3
74.0
1.119.5
440.5
669.2
498.3
499.7
297.8
18.9
14.2
2.637.4
3,858.8
4,019.0
68.8
1,144.2
444.0
683.3
495.2
520.3
288.4
16.2
15.4
2.644.6
3,981.5
4,160.2
83.7
1.133.6
444.6
724.2
511.0
551.5
289.5
18.9
18.6
2.669.3
4,103.9
4,298.2
93.6
1.134.7
445.6
730.9
All sectors
48 Total credit market debt, domestic and foreign .
49
50
51
52
53
54
55
56
57
Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
31,685.0'
34,448.1
37,619.7
40,926.0
40,926.0
41,911.3
42,860.5
43,744.1
44,747.0
45,667.8
46,573.6
1 374 9'
3.609.8
5,536.3
1,762.9
6,193.0'
1,344.2
1.464.7
8 399 3'
1.999.9'
1,292.9
4,008.2
5,952.9
1,900.5
6,976.5
1,318.4
1.499.3
9,395.1
2,104.4
1,399.1
4,370.7
6,090.0
2,031.0
7,845.0
1,391.2
1.590.2
10,683.1
2,219.4
1,644.2
4,678.0
6,179.7
2,225.8
8,597.9
1,560.3
1.677.6
12,048.8
2,313.7
1,644.2
4,678.0
6,179.7
2,225.8
8,597.9
1,560.3
1.677.6
12,048.8
2,313.7
1,698.4
4,834.4
6,256.8
2,254.2
8,871.1
1,608.3
1.677.0
12,428.0
2,283.2
1,764.9
4,759.6
6,370.2
2,305.6
9,164.6
1,647.0
1.734.6
12,798.6
2,315.4
1,865.3
4,803.2
6,432.9
2,332.6
9,418.2
1,681.0
1.712.1
13,130.5
2,368.2
1,958.0
4,861.7
6,519.7
2,404.2
9,746.3
1,683.4
1.735.4
13,418.9
2,419.3
2,003.7
5,014.3
6,649.3
2,466.3
10,032.6
1,697.9
1.727.0
13,674.5
2,402.1
2,109.8
4,904.0
6,796.3
2,542.8
10,276.2
1,758.4
1.771.4
13,981.8
2,432.9
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
2005
Transaction category or sector
2002
2003'
2004
2007
20 06
2005'
Q4'
Ql'
Q2'
Q3'
Q4'
Ql'
Q2
CREDIT MARKET DEBT OUTSTANDING2
1 Total credit market assets
2 Domestic nonfinancial sectors
3
Household
4
Nonfinancial corporate business
5
Nonfarm noncorporate business
6
State and local governments
7
Federal government
8 Rest of the world
9 Financial sectors
10
Monetary authority
11
Commercial banking
12
U.S.-chartered commercial banks
13
Foreign banking offices in United States
14
Bank holding companies
15
Banks in U.S.-affiliated areas
16
Savings institutions
17
Credit unions
18 Property-casualty insurance companies
19 Life insurance companies
20
Private pension funds
21
State and local government retirement funds
22
Federal government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Exchange-traded funds
27
Government-sponsored enterprises
28 Agency- and GSE-backed mortgage pools
29
Asset-backed securities (ABSs) issuers
30
Finance companies
31
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
31,685.0' 34,448.1
37,619.7' 40,926.0
40,926.0
41,911.3
42,860.5
43,744.1
44,747.0
45,667.8
46,573.6
3,912.3'
4,290.0
2 227 2' 2,550.5
269.4
266.2
72.4
73.9
1,067.4
1,125.6
275.9'
273.8
3 736 8
4,169.3
24,035.9' 25,988.7
629.4
666.7
5,994.3
5,614.9
5,003.9
5,390.6
516.9
490.3
27.8
36.4
66.3
76.9
1 166 6
1,293.9
465.4
516.6
558.3
625.2
2,307.8
2,488.3
577.3
646.5
638.7
649.9
57.6'
63.6
1,567.1
1,471.3
1,368.4
1,506.4
117.1
152.6
4,672.9'
2,824.1'
296.7
85.4
1,190.2
276.5'
4,990.2'
27,956.6'
717.8
6,602.3'
5,961.8'
513.3'
36.4
90.8
1,417.4'
556.4
698.8
2,661.4
646.1
677.1
68.2'
1,346.3
1,623.0
163.6
5,034.9
3,026.0
345.3
99.1
1,290.7
273.8
5,603.3
30,287.8
744.2
7,260.7
6,469.7
657.8
32.2
101.0
1,616.7
592.6
765.8
2,765.4
658.6
674.3
76.0
1,340.8
1,747.1
165.1
15.0
2,543.9
3,563.7
3,168.0
1,537.1
267.0
477.2
308.6
5,034.9
3,026.0
345.3
99.1
1,290.7
273.8
5,603.3
30,287.8
744.2
7,260.7
6,469.7
657.8
32.2
101.0
1,616.7
592.6
765.8
2,765.4
658.6
674.3
76.0
1,340.8
1,747.1
165.1
15.0
2,543.9
3,563.7
3,168.0
1,537.1
267.0
477.2
308.6
5,119.1
3,107.7
338.6
102.3
1,293.9
276.6
5,792.6
30,999.6
758.5
7,433.0
6,620.9
676.2
33.9
102.0
1,648.9
604.1
780.8
2,806.3
660.5
672.0
77.3
1,353.5
1,805.4
167.8
15.7
2,552.5
3,641.1
3,349.8
1,542.9
277.1
497.2
355.1
5,175.6
3,137.7
343.6
104.7
1,312.8
277.0
6,027.5
31,657.3
766.4
7,649.6
6,806.5
711.2
31.9
99.9
1,679.5
615.6
792.9
2,827.9
672.5
686.9
81.8
1,375.9
1,839.5
171.9
18.0
2,591.2
3,703.3
3,533.3
1,574.4
291.6
470.0
315.4
5,223.0
3,171.8
342.5
107.7
1,323.0
278.0
6,213.8
32,307.3
768.9
7,696.9
6,828.0
736.2
33.6
99.1
1,744.5
618.9
800.8
2,842.5
682.2
688.8
83.7
1,452.9
1,874.0
170.6
18.7
2,579.0
3,784.7
3,705.4
1,608.2
302.7
537.3
346.3
5,291.9
3,185.8
364.1
110.7
1,353.4
277.9
6,486.7
32,968.4
778.9
8,019.1
7,122.7
761.6
35.6
99.3
1,518.6
622.7
813.5
2,806.1
692.6
709.6
84.3
1,561.0
1,932.0
172.0
20.7
2,589.8
3,858.8
3,893.8
1,626.8
324.5
583.4
360.2
5,364.6
3,249.7
358.1
113.3
1,360.4
283.2
6,731.7
33,571.4
780.9
8,023.5
7,088.6
805.9
31.4
97.6
1,577.5
630.0
821.7
2,825.0
707.8
712.7
88.1
1,634.4
2,005.4
171.9
22.4
2,556.0
3,981.5
4,036.8
1,617.6
315.4
676.6
386.1
5,388.0
3,244.6
356.4
116.4
1,386.3
284.3
6,946.5
34,239.1
790.5
8,217.8
7,234.4
855.3
30.1
98.1
1,595.2
642.5
838.5
2,841.5
723.8
715.2
88.9
1,699.7
2,085.0
177.7
26.3
2,589.0
4,103.9
4,166.0
1,613.5
308.7
592.0
423.3
37,619.7' 40,926.0
40,926.0
41,911.3
42,860.5
43,744.1
44,747.0
45,667.8
46,573.6
45.9
45.9
46.0
48.3
46.5
46.0
46.6
46.1
2.2
2.2
2.2
2.2
2.2
27.5
1,024.7
201.3
1,525.2
4,599.3
1,789.5
2,006.9
1,998.0
6,048.9
1,038.4
1,082.6
11,176.7
2,946.1
295.8
14,456.3
27.5
1,024.7
201.3
1,525.2
4,599.3
1,789.5
2,006.9
1,998.0
6,048.9
1,038.4
1,082.6
11,176.7
2,946.1
295.8
14,456.3
27.6
1,078.8
181.0
1,507.8
4,692.9
1,887.7
2,014.1
2,122.3
6,463.8
1,105.5
1,102.3
11,440.9
2,964.4
311.5
14,319.1
27.8
1,149.3
139.6
1,536.8
4,734.0
1,965.6
2,067.4
2,213.3
6,419.3
1,148.6
1,110.1
11,298.4
3,041.6
311.6
14,241.2
28.1
1,139.6
147.2
1,491.1
4,792.1
2,055.9
2,166.5
2,368.2
6,627.9
1,191.5
1,133.5
11,547.7
3,056.1
322.4
14,300.4
28.1
1,123.5
189.8
1,509.6
4,943.2
2,050.8
2,312.5
2,494.0
7,068.3
1,249.9
1,163.7
12,077.6
3,108.7
316.5
15,074.9
28.2
1,194.7
49.8
1,501.3
5,072.6
2,122.5
2,390.0
2,675.9
7,328.7
1,291.0
1,172.7
12,188.7
3,146.8
335.0
15,094.6
3.7
2,323.2
3,158.6
1,862.3'
1,082.0'
71.7
344.4
121.3'
4.5
2,564.2
3,326.7
2,081.2
1,204.9
97.5
424.1
210.5
8.2
2,613.0'
3,389.5'
2,497.6'
1,419.8
200.1
394.9
254.9'
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
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
31,685.0' 34,448.1
55.8
2.2
25.5
831.1
206.0
1,351.9
3,695.9
1,171.0
2,223.9
1,340.3
3,638.4
738.8
920.9
8,198.0
2,445.7'
241.4
11,826.6'
62.3
62.2
2.2
26.0
867.1
193.0
1,436.9
4,003.3
1,226.8
2,016.4
1,559.1
4,654.2
858.8
1,013.2
9,717.2
2,468.1
240.4
12,241.1
2.2
26.7
957.0'
212.2
1,521.7'
4,284.9'
1,505.1'
1,879.8
1,647.2'
5,436.3
1,038.2'
1,060.4
10,627.2
2,648.1'
268.9
13,711.2'
28.5
1,308.5
73.8
1,500.3
5,107.0
2,148.8
2,489.7
2,731.0
7,801.1
1,368.4
1,201.1
12,608.9
3,203.1
336.8
15,248.7
52 Total liabilities
70,598.5' 77,033.9
84,508.7' 91,191.2
91,191.2
93,179.3
94,315.8
96,160.9
99,506.2 101,309.0 103,777.4
Financial assets not included in liabilities (+)
53 Gold and special drawing rights
54 Corporate equities
55 Household equity in noncorporate business
23.2
11 900 5
4,989.9'
23.7
15,618.5
5,429.8
24.6
17,389.3
6,030.2'
19.3
18,509.0
6,835.4
19.3
18,509.0
6,835.4
19.4
19,447.0
7,034.1
19.7
18,994.7
7,217.6
19.7
19,685.1
7,373.6
19.9
20,905.9
7,495.6
20.0
21,130.4
7,682.6
20.1
22,218.7
7,877.9
-9.1
652.5
15.5
426.6
126.3
-3,287.6'
-9.5
705.3
12.7
394.1
69.2
-3,041.9
-9.7
767.2'
27.3
252.8'
97.0
-2,948.5'
-9.1
807.9
25.2
389.4
95.4
-4,229.8
-9.1
807.9
25.2
389.4
95.4
-4,229.8
-10.3
858.8
27.1
253.5
93.0
-4,326.0
-10.2
932.8
27.8
374.9
74.1
-4,648.8
-10.0
942.4
41.4
444.8
58.1
-4,894.2
-10.1
907.1
23.2
525.3
52.5
-4,966.1
-10.2
997.0
32.6
484.3
58.4
-5,239.8
-10.0
1,107.7
20.1
502.6
55.2
-5,485.6
-11.7
20.9
10.9'
-17.9
20.8
49.0
11.2
20.6
56.5'
1.8
1.8
1.5
1.5
2.7
.1
1.3
-.8
20.6
-15.5
20.6
-15.5
16.4
-97.0
19.7
-133.7
12.4
-153.9
20.6
-63.0
16.4
-119.8
19.6
-155.7
89,568.1'
99,923.9
56
57
58
59
60
61
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
62 Federal government checkable deposits
63 Other checkable deposits
64 Trade credit
65 Totals identified to sectors as assets
109,678.3' 119,469.0 119,469.0 122,862.8 123,909.6 126,795.8 131,438.2 133,922.0 137,841.1
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 2007
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2006
2006
2007
2007
2006
2007
Series
Q3
Q4
Q1
Q2'
Q3
Q4
Q1
Q2
Capacity (percent of 2002 output)
Output (2002=100)
Q3
Q4
Q1
Q2'
Capacity utiliz ition rate (percent)2
1 Total industry
112.3
111.9
112.2
113.2
136.5
137.3
138.0
138.6
82.3
81.5
81.3
81.7
2 Manufacturing
Manufacturing (NAICS)
3
114.2
115.2
113.7
114.6
113.9
114.9
115.2
116.2
141.1
142.6
141.9
143.5
142.7
144.3
143.5
145.1
80.9
80.8
80.1
79.9
79.8
79.6
80.3
80.1
4
5
122.2
114.3
121.7
105.3
121.6
107.8
123.8
111.5
153.6
128.7
155.1
128.0
156.6
127.7
157.9
127.9
79.5
88.8
78.5
82.2
77.7
84.4
78.4
87.2
110.4
120.4
174.3
110.0
119.5
180.3
109.9
116.6
181.7
111.4
117.5
185.4
136.8
146.6
225.8
137.2
147.6
233.2
137.7
148.6
241.2
138.1
149.4
249.5
80.7
82.1
77.2
80.2
80.9
77.3
79.9
78.4
75.3
80.6
78.7
74.3
106.8
101.2
105.9
100.1
107.3
98.2
109.1
101.3
125.1
133.8
125.6
134.0
126.2
133.4
126.5
132.1
85.4
75.6
84.3
74.7
85.0
73.6
86.3
76.7
124.8
107.6
109.5
92.6
127.5
106.8
111.4
89.0
130.6
107.5
112.5
87.1
131.8
107.8
113.8
87.7
160.8
130.6
135.0
118.3
161.8
130.9
135.6
117.5
162.8
131.1
136.2
116.7
163.6
131.4
136.8
115.9
77.6
82.4
81.1
78.3
78.8
81.6
82.2
75.8
80.3
82.0
82.6
74.6
80.6
82.1
83.1
75.6
98.7
113.3
112.0
107.1
97.4
98.6
109.3
109.8
104.6
99.2
97.1
111.6
110.1
106.3
98.7
96.7
109.6
110.6
108.5
99.4
115.5
121.6
140.9
122.3
117.0
115.3
121.3
141.2
123.4
117.3
115.1
120.9
141.5
124.4
117.6
114.9
120.8
141.8
125.2
117.8
85.4
93.1
79.5
87.5
83.2
85.5
90.1
77.7
84.8
84.6
84.3
92.3
77.8
85.4
84.0
84.1
90.7
78.0
86.7
84.4
20
21 Electric and gas utilities
100.6
107.3
101.4
106.4
100.1
108.6
100.1
108.4
110.7
124.3
111.0
125.1
111.3
125.8
111.4
126.2
90.9
86.4
91.3
85.0
90.0
86.4
89.9
85.9
MEMOS
22 Computers, communications equipment, and
semiconductors
204.8
216.4
221.2
229.8
260.2
271.4
283.8
296.7
78.7
79.7
77.9
77.4
23 Total excluding computers, communications
equipment, and semiconductors
108.5
107.8
107.9
108.7
131.3
131.8
132.1
132.4
82.6
81.8
81.7
82.1
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
109.5
108.6
108.7
109.7
134.8
135.2
135.6
135.9
81.3
80.3
80.2
80.7
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
2007
2006
Series
Low
High
Low
Aug.
Mar.
Apr.
May'
June'
July'
Aug.p
Capacity ut lization rate (percent)4
1 Total Industry
88.9
74.0
86.5
70.8
85.0
78.5
82.4
81.4
81.7
81.5
81.8
82.2
82.2
2 Manufacturing
3
Manufacturing (NAICS)
88.3
88.4
71.6
71.4
86.2
86.2
68.5
67.8
85.4
85.3
77.1
76.9
81.1
80.9
80.0
79.8
80.2
79.9
80.1
79.9
80.5
80.3
81.0
80.8
80.7
80.4
89.4
101.9
69.6
69.6
86.7
90.5
62.9
47.0
84.5
93.8
73.3
74.6
79.8
89.0
77.9
85.2
78.2
87.1
78.1
87.6
78.8
86.8
79.5
88.5
79.0
88.8
91.6
94.6
69.7
74.5
82.8
92.7
61.8
58.0
81.6
85.2
72.6
73.9
80.9
82.5
80.3
79.3
80.5
78.6
80.2
78.7
81.1
78.7
81.3
80.2
81.5
79.2
86.9
66.0
89.9
76.9
81.4
75.9
77.1
74.7
74.7
73.9
74.4
75.2
74.5
99.3
95.6
67.9
54.6
91.9
95.2
64.6
44.9
89.1
89.7
77.0
56.0
86.0
76.4
85.4
74.7
86.5
76.0
85.9
75.9
86.4
78.2
87.1
79.0
86.3
77.3
75.9
87.6
67.9
72.3
87.0
85.8
69.0
75.6
87.1
86.8
81.1
81.6
77.5
82.3
79.8
82.1
80.3
82.0
80.1
82.0
81.3
82.1
81.7
82.4
81.8
82.2
86.3
89.5
77.5
61.8
84.4
89.6
80.6
72.6
85.9
91.2
81.0
77.7
80.7
78.5
82.8
74.3
83.2
75.1
82.8
75.7
83.5
76.0
83.1
74.8
82.5
74.1
96.7
92.2
85.3
96.1
86.0
74.0
80.8
69.1
61.8
75.5
95.4
91.9
83.6
90.1
88.0
81.3
70.7
67.7
71.8
86.3
92.5
89.0
85.1
89.8
91.0
86.1
83.1
80.1
76.4
80.6
85.5
92.8
79.8
87.6
82.9
84.5
92.4
78.0
85.9
84.3
84.6
89.3
78.0
86.4
84.5
84.1
91.5
78.0
86.7
84.0
83.6
91.1
78.0
86.9
84.5
84.3
91.8
78.6
87.7
84.5
84.4
91.0
78.8
87.4
84.2
20 Mining
21 Electric and gas utilities
93.6
96.3
87.6
82.7
94.0
88.2
78.7
77.6
86.1
92.7
83.5
84.0
90.2
87.5
90.0
84.7
90.0
87.0
89.7
85.6
90.1
85.0
90.8
83.6
90.2
87.9
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.3
62.3
89.6
74.6
80.8
74.2
78.5
77.5
77.5
77.0
77.8
79.2
78.6
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.6
85.4
78.7
82.8
81.8
82.1
81.9
82.3
82.5
82.6
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.4
68.1
85.9
77.2
81.4
80.4
80.6
80.6
81.0
81.4
81.0
4
5
Durable manufacturing
Primary metal
6
7
8
14
Fabricated metal products . . . .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts
Aerospace and
miscellaneous
transportation equipment .
Nondurable manufacturing
Food, beverage, and tobacco
products
Textile and product mills . . . .
15
16
17
18
19
Paper
Petroleum and coal products . .
Chemical
Plastics and rubber products . .
Other manufacturing (non-NAICS) .
9
10
11
12
13
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G. 17(419) monthly statistical release. The data
are also available 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 2006. The recent 2006 annual revision is described in a 2007 article in
the Federal Reserve Bulletin, (vol. 93), www.federalreserve.gov/pubs/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 2007
2.13
INDUSTRIAL PRODUCTION
Indexes and Gross Value1
Monthly data seasonally adjusted
Group
2002
proportion
Aug.
Sept.
Jan.
Feb.
Mai
Apr.
May'
Aug.'
Index (2002=100)
MAJOR MARKETS
1 Total IP
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Market groups
Final products and nonindustrial supplies . .
Consumer goods
Durable
Automotive products
Home electronics
Appliances, furniture, carpeting . . .
Miscellaneous goods
Nondurable
Non-energy
Foods and tobacco
Clothing
Chemical products
Paper products
Energy
112.5
112.2
112.0
111.5
112.2
111.7
112.5
112.4
113.1
113.0
113.6
114.2
58.9
31.1
8.9
4.7
0.4
1.5
2.4
22.2
18.3
9.8
0.9
5.0
2.1
3.9
111.2
106.9
105.6
99.4
169.9
104.4
108.1
107.2
107.7
109.5
79.5
110.6
101.6
106.1
12.5
07.8
06.2
99.6
68.2
05.4
09.5
08.2
07.7
08.7
79.5
12.4
01.0
09.8
112.2
107.6
105.4
98.4
174.1
103.4
109.2
108.2
108.3
109.8
79.1
112.1
102.0
108.4
112.0
107.3
102.8
94.5
171.1
102.0
108.3
108.7
108.7
110.2
80.0
111.6
104.7
109.0
111.9
107.6
104.4
98.2
173.1
101.9
107.5
108.5
108.8
111.2
79.1
110.4
103.9
107.8
112.6
107.8
106.2
100.6
180.7
102.2
108.4
108.2
109.8
111.8
78.9
112.9
103.3
103.7
111.9
107.4
103.1
95.2
184.6
100.5
107.4
108.7
109.7
112.1
80.4
111.8
103.3
106.1
113.1
109.4
104.6
98.7
196.0
99.5
106.3
110.9
109.5
111.9
79.6
110.9
104.7
115.8
112.8
108.6
105.2
99.7
191.1
99.8
107.1
109.6
109.9
112.7
78.7
110.5
105.5
108.9
113.4
109.2
107.1
102.3
200.8
100.4
107.6
109.8
110.3
113.1
79.4
110.9
105.6
108.7
113.1
108.8
106.7
101.1
199.4
101.3
108.1
109.4
109.8
112.8
79.7
109.9
105.1
108.3
113.9
109.4
108.7
104.1
200.3
101.1
109.6
109.5
110.3
113.8
78.8
109.4
105.9
107.4
114.3
109.9
109.4
105.5
198.7
100.7
110.1
109.9
110.7
113.6
78.8
111.2
106.2
107.5
114.5
110.0
108.3
103.3
198.2
100.2
110.3
110.5
110.4
112.7
77.4
112.1
105.9
111.3
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.1
1.8
3.0
5.3
1.8
125.9
138.9
137.4
115.4
112.0
28.6
41.2
39.5
18.4
13.0
128.5
140.7
140.8
117.8
113.6
128.4
141.1
141.9
116.9
113.3
129.5
146.0
142.5
117.0
112.0
132.1
146.8
144.0
120.7
112.5
128.8
144.2
144.4
115.6
113.9
129.2
144.1
146.2
115.4
113.0
130.6
144.3
147.5
117.3
109.8
130.9
143.7
148.6
117.5
111.1
131.1
142.1
149.8
117.8
111.0
132.1
145.0
151.0
118.1
112.9
133.7
145.9
151.7
120.3
113.5
133.4
145.6
152.1
119.7
112.9
21
22
Construction supplies
Business supplies
4.3
11.2
110.4
110.3
11.3
11.5
110.3
110.8
108.4
111.9
107.4
110.5
109.7
110.3
108.4
110.6
106.8
111.5
107.9
111.2
108.3
111.9
109.1
111.5
110.3
111.7
110.3
111.5
110.3
112.6
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
41.1
30.7
19.1
4.1
6.7
8.4
11.6
0.8
2.7
4.5
10.4
111.0
115.7
123.4
100.7
159.9
109.6
104.0
86.3
100.5
109.4
99.8
12.6
17.6
25.9
01.1
66.6
10.6
04.9
86.7
00.8
11.7
00.9
112.2
117.4
125.9
100.0
168.5
110.1
104.5
84.8
101.4
110.5
100.0
112.0
116.4
124.9
97.5
169.6
108.6
103.7
83.8
100.9
108.5
101.3
111.0
115.4
123.7
97.6
170.0
106.1
102.9
82.6
100.7
107.3
100.6
111.7
116.6
124.7
98.5
170.8
107.3
104.2
83.3
103.2
108.7
100.2
111.3
115.9
124.4
96.8
169.8
107.8
103.2
81.1
100.1
108.9
100.5
111.8
116.0
123.9
97.1
168.6
107.5
103.9
81.3
101.0
110.1
101.9
112.0
116.8
124.9
98.3
169.5
108.3
104.5
80.9
100.7
111.4
100.5
112.7
117.5
126.0
98.6
170.5
109.7
104.7
80.8
100.3
111.1
101.1
112.7
117.7
126.5
99.1
170.5
110.4
104.4
81.3
99.6
111.2
100.9
113.2
118.3
127.5
99.8
173.3
110.6
104.5
80.7
98.4
111.4
101.2
114.0
119.5
129.3
99.8
178.7
111.5
104.8
78.1
99.4
111.8
101.1
114.3
119.3
129.1
98.1
178.3
111.8
104.7
76.9
99.9
111.6
102.6
94.8
92.5
107.5
111.7
08.7
13.2
108.2
112.9
107.9
113.0
107.4
112.2
108.0
112.9
107.4
112.7
108.3
113.4
108.1
113.3
108.6
113.9
108.5
113.8
109.0
114.3
109.4
114.9
109.6
115.3
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
3,073.9
3,043.0
37 Final products
38
Consumer goods . . .
39
Equipment total
43.4
31.1
12.3
40 Nonindustrial supplies .
15.5
3,053.5
3,071.6
3,087.2
3,081.8
2,302.3 2,331.2 2,329.3 2,309.1 2,320.0 2,335.4 2,314.7 2,346.1 2,336.1 2,340.9 2,337.0 2,356.3 2,373.2 2,368.9
1,606.0 1,623.0 1,621.7 1,604.4 1,612.1 1,615.5 1,611.7 1,641.9 1,629.7 1,636.2 1,632.1 1,644.6 1,654.4 1,653.6
725.3
732.2
713.5
714.2
729.1
706.0
718.6
718.1
715.6
718.9
713.5
716.4
714.6
721.7
741.1
749.8
745.2
746.5
734.7
737.5
738.7
742.2
741.4
745.3
745.6
748.6
746.2
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2006
2007
2006
avg.
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May'
Juner
July'
Aug.'
Index (2002=100)
INDUSTRY GROUPS
41 Manufacturing
42
Manufacturing (NAICS)
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
Durable manufacturing
Wood products
Nonmetallic mineral
products
Primary metal
Fabricated metal products .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts . .
Aerospace and
miscellaneous
transportation
equipment
Furniture and related
products
Miscellaneous
Nondurable manufacturing . .
Food, beverage, and
tobacco products . . . .
Textile and product mills . .
Apparel and leather
Paper
Printing and support
Petroleum and coal
products
Chemical
Plastics and rubber
products
Other manufacturing
(non-NAICS)
65 Mining
66 Utilities
67
Electric
68
Natural gas
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors
70 Manufacturing excluding motor
vehicles and parts
83.9
79.0
113.0
113.9
114.3
115.4
114.3
115.3
113.4
114.3
113.2
114.1
114.4
115.4
113.7
114.7
113.6
114.6
114.4
115.4
114.8
115.8
114.9
115.9
115.7
116.7
116.6
117.6
116.3
117.3
321
43.4
1.5
120.4
107.5
122.6
107.4
122.2
104.8
121.2
100.4
121.3
98.0
122.7
100.3
121.2
98.5
121.3
97.7
122.3
98.3
123.2
98.2
123.4
100.3
124.8
101.6
126.2
101.0
125.7
100.6
327
331
332
333
2.3
2.3
5.8
5.3
112.5
112.1
108.9
117.1
113.3
114.5
110.7
121.0
110.6
112.8
110.5
120.6
109.1
109.2
110.5
118.1
109.1
103.8
109.7
117.6
111.0
102.7
109.8
122.6
109.8
107.1
109.3
116.4
106.5
107.6
109.8
115.3
108.3
108.8
110.6
118.0
108.5
111.3
111.1
117.2
109.2
112.1
110.8
117.6
110.7
111.2
112.2
117.7
111.8
113.4
112.5
120.2
112.3
114.0
113.0
119.0
334
8.0
169.1
174.0
177.2
179.3
180.0
181.7
181.3
181.5
182.3
184.2
184.4
187.6
191.8
192.1
335
3361-3
2.2
7.5
105.8
101.9
107.6
102.2
105.1
100.9
105.5
97.3
105.1
100.7
107.1
102.4
106.5
96.4
107.4
98.7
107.9
99.4
109.3
100.8
108.7
100.3
109.3
102.9
110.3
103.6
109.4
100.9
3364-9
3.6
122.4
124.6
125.2
126.3
127.7
128.3
130.7
131.0
130.2
131.1
131.1
133.3
134.1
134.5
337
339
1.8
3.3
104.7
116.9
106.4
118.1
104.7
118.0
104.2
118.8
103.4
120.0
102.7
121.0
101.8
120.2
100.7
119.4
101.0
121.6
100.4
122.5
101.2
123.1
102.3
123.4
103.0
123.5
102.3
123.4
35.6
106.7
107.5
107.8
106.7
106.2
107.4
107.5
107.2
107.8
107.7
107.8
108.0
108.4
108.2
311,2
313,4
315,6
322
323
11.4
1.4
1.0
3.1
2.4
109.8
92.7
80.7
98.5
103.3
108.9
92.8
80.6
98.7
102.7
110.1
91.3
80.2
99.3
103.1
110.6
89.8
80.9
98.3
104.1
111.5
88.6
80.0
97.9
104.3
112.2
88.6
79.7
99.5
106.3
112.3
87.4
81.1
96.4
105.6
112.2
87.3
80.3
97.5
106.0
113.0
86.5
79.5
97.2
105.6
113.7
87.3
80.0
97.3
104.7
113.3
87.8
80.3
96.7
103.1
114.4
87.9
79.4
96.1
102.1
114.1
86.3
79.1
96.8
101.9
113.3
85.3
77.7
96.9
102.8
324
325
1.8
10.8
110.3
110.3
112.8
112.4
115.3
111.7
110.4
110.1
108.5
108.8
108.9
110.5
113.0
109.9
110.0
110.1
111.7
110.4
107.9
110.5
110.6
110.6
110.1
110.7
111.0
111.7
110.0
112.1
326
3.8
105.7
107.1
106.1
104.4
103.9
105.6
106.3
105.5
107.1
108.0
108.5
109.0
110.2
110.2
1133,5111
4.9
98.0
97.0
97.2
99.6
99.4
98.7
98.4
98.6
99.1
99.5
99.0
99.6
99.7
99.3
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
100.2
105.2
108.0
91.7
99.9
108.8
98.4
101.0
104.5
105.5
100.0
100.9
109.8
110.6
106.0
100.7
106.8
108.8
97.6
102.5
102.5
105.8
87.0
100.2
105.1
108.1
91.0
100.0
114.1
114.1
114.2
100.2
106.6
109.2
94.7
100.2
109.7
110.7
104.8
99.9
108.0
110.4
96.8
100.3
107.4
109.9
96.1
101.1
105.7
107.2
98.7
100.4
111.3
114.0
98.7
78.7
108.6
109.7
109.4
108.4
108.2
109.3
108.5
108.4
109.2
109.5
109.5
110.1
110.8
110.4
76.4
113.9
115.3
115.4
114.8
114.3
115.4
115.1
114.9
115.7
116.0
116.2
116.8
117.7
117.6
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G. 17(419) monthly statistical release. The data
are also available 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 2006. The recent 2006 annual revision is described in a 2007 article in
the Federal Reserve Bulletin, (vol. 93), www.federalreserve.gov/pubs/bulletin.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • September 2007
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
-640,148
-612,092
1,157,250
-1,769,341
56,357
62,499
139,408
-76,909
-6,141
-84,414
-754,848
-714,371
1,283,070
-1,997,441
48,058
54,459
152,512
-98,053
-6,400
-88,535
-811,477
-758,522
1,445,703
-2,204,225
36,640
43,172
174,214
-131,042
-6,532
-89,595
Q2
Q3
Q4
Ql'
Q2
-205,595
-192,577
356,575
-549,153
10,668
12,289
44,647
-32,358
-1,621
-23,686
-217,334
-199,307
365,868
-565,175
5,850
7,491
40,487
-32,996
-1,642
-23,877
-187,938
-176,926
377,623
-554,549
9,661
11,328
47,074
-35,746
-1,668
-20,673
-197,097
-177,581
382,156
-559,737
7,478
9,062
47,760
-38,698
-1,584
-26,994
-190,790
-177,688
395,689
-573,377
9,355
11,038
49,638
-38,600
-1,683
-22,457
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
1,710
445
-493
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
2,805
0
-398
3,826
-623
4,511
10,200
-615
-223
3,331
-734
-51
-351
-158
-54
1,275
-215
-51
1,678
-212
-72
0
-43
212
-241
26
0
-39
294
-229
-909,539
-359,767
-124,137
-146,549
-279,086
-446,510
-217,471
-39,603
-197,098
7,662
-1,062,896
-454,585
-83,531
-289,422
-235,358
-213,423
-54,791
-45,885
-59,003
-53,744
-212,474
-78,798
-29,162
-55,496
-49,018
-291,405
-123,899
15,818
-117,230
-66,094
-449,827
-233,384
-47,830
-87,206
-81,407
-469,003
-203,872
-105,557
-88,051
-71,523
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
397,755
273,279
41,662
-134
69,245
13,703
259,268
112,841
100,493
-421
26,260
20,095
440,264
189,181
191,553
3,133
22,040
34,357
120,861
24,262
41,364
824
42,533
11,878
108,799
52,746
55,226
1,154
-7,221
6,894
85,347
47,049
47,749
1,129
-15,666
5,086
152,193
37,705
73,067
654
29,797
10,970
70,098
-13,125
56,400
-198
15,736
11,285
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
1,064,011
334,747
93,522
93,608
14,829
381,493
145,812
944,963
202,508
31,804
132,300
18,969
450,386
108,996
1,419,333
434,393
235,769
-35,931
12,571
591,951
180,580
234,581
2,048
55,907
-19,307
1,127
145,750
49,056
341,188
100,640
69,637
-13,440
1,129
140,243
42,979
430,682
172,283
49,612
22,090
8,382
132,745
45,570
464,409
203,603
93,624
44,638
-1,631
112,269
11,906
550,307
137,754
108,115
-7,625
3,347
235,096
73,620
-2,369
85,775
-4,054
-18,454
-3,913
-17,794
-1,008
49,378
-252
49,630
-545
-37,121
-15,973
-21,148
-637
-36,643
6,267
-42,910
-559
15,708
11,335
4,373
-589
40,444
-1,080
41,524
17 Change in U.S. private assets abroad (increase, - )
18
Bank-reported claims2
19
Nonbank-reported claims
20
U.S. purchase of foreign securities, net
21
U.S. direct investments abroad, net
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
2,805
14,096
2,374
-560
1,006
1,415
-72
26
397,889
259,689
437,131
120,037
107,645
84,218
151,539
70,296
41 Change in Organization of Petroleum Exporting Countries official
assets in United States (part of line 22)
1. Seasonal factors are not calculated for lines 11-16, 18-20, 22-35, and 38-41.
2. Associated primarily with military sales contracts and other transactions arranged with
or through foreign official agencies.
3. Consists of investments in U.S. corporate stocks and in debt securities of private
corporations and state and local governments.
4. Reporting banks included all types of depository institutions as well as some brokers
and dealers.
3.12
5. Consists of capital transfers (such as those of accompanying migrants entering or
leaving the country and debt forgiveness) and the acquisition and disposal of nonproduced
nonfinancial assets.
SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current
Business.
U.S. RESERVE ASSETS
Millions of dollars, end of period
2007
Asset
2004
2005
2006
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.'
1 Total
86,824
65,127
65,895
65,063
66,082
66,551
66,720
66,008
66,127
67,029
67,508
2 Gold stock1
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,045
13,582
11,043
8,210
11,041
8,870
11,041
8,786
11,041
8,915
11,041
8,948
11,041
9,030
11,041
9,002
11,041
9,018
11,041
9,111
11,041
9,157
19,479
42,718
8,036
37,838
5,040
40,943
4,855
40,381
4,874
41,251
4,846
41,716
4,553
42,095
4,481
41,483
4,573
41,495
4,369
42,508
4,388
42,922
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
2007
Asset
2004
2005
2006
Jan.
1 Deposits
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
Feb.
Apr.
May
June
July
Aug.'
80
83
98
90
91
91
95
93
197
94
94
1.041.215
8,967
1.069.014
8,967
1.133.969
8,967
1.146.680
8,967
1.168.109
8,967
1.181.783
8,913
1.195.672
8,872
1,198,639
8,832
1,211,812
8,825
1,226,784
8,791
1.173.166
8,764
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
Mar.
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
2007
2006
Item
1
1 Total
By type
2 Liabilities reported by banks in the United States2
2005
2006
June"
June
8
Apr.
Dec.
2,191,423
2,585,073
2,256,427
2,490,224
2,585,073
296.647
201,863
284,862
176,829
308,636
184,847
308,636
184,847
284.862
176,829
1 102 333
948
589,632
1 271 174
1,026
851,182
1 112 617
986
649,341
368,516
7,211
128,006
1,640,968
17,214
29,502
435,062
7,078
175,683
1,915,307
12,434
39,508
366,044
6,952
148,757
1,679,350
18,664
36,654
May
June
2,691,894' 2,692,026
July'
2,726,108' 2,766,527
319.545'
177,958
313,634
172,500
331,682
160,745
352,415
176,036
1 211 819 1 271 174
986
1,026
783,937
851,182
1 278 833
1,053
914,505
1 274 243
1,060
930,589
1 280 676' 1 273 751
1,067
1,075
951,938
963,251
414,986
7,859
159,323
1,851,747
15,955
40,354
429,605
8,210
207,110
1,984,514'
16,310
46,144
428,042
8,680
210,189
1,979,306
18,628
47,180
432,797'
8,019
225,620
1,992,421
18,818
48,432'
U.S. Treasury bonds and notes
5
Nonmarketable4
6 U.S. securities other than U.S. Treasury securities5
By area
7 Europe1
9 Latin America and Caribbean
10 Asia
11 Africa
1. For data before June 2006, includes the Bank for International Settlements.
2. Principally demand deposits, time deposits, bankers acceptances, commercial paper,
negotiable time certificates of deposit, and borrowings under repurchase agreements.
3. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
4. Excludes notes issued to foreign official nonreserve agencies. Includes current value of
zero-coupon Treasury bond issues to foreign governments as follows: Mexico, beginning
March 1990, 30-year maturity issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
5. Debt securities of U.S. government corporations and federally sponsored agencies, and
U.S. corporate stocks and bonds.
3.16
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
435,062
7,078
175,683
1,915,307
12,434
39,508
441,503
8,360
239,575
2,009,581
19,705
47,802
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 2006 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
2006
Item
2003
2004
2007
2005
Sept.
Dec'
Mar.'
June
2
3
Deposits
Other liabilities
63,119
36,674
26,445
98,349
52,410
45,939
91,693
59,241
32,452
109,530'
74,011
35,519'
132,515
88,778
43,737
137,180
89,922
47,258
164,780
98,873
65,907
5
Deposits
81,669
38,102
43,567
129,544
51,029
78,515
100,144
43,942
56,202
106,937
48,687
58,250
123,358
51,951
71,407
121,891
55,535
66,356
138,755
61,405
77,350
8
Deposits
21,365
5,064
16,301
32,056
8,519
23,537
56,100
20,931
35,169
84,246
34,031
50,215
63,364
34,901
28,463
77,258
51,484
25,774
81,285
55,342
25,943
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 2007
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Apr.
July'
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
2 Banks' own liabilities
By type of liability
3
Deposits2
4
Other
5
Of which: repurchase agreements3
6
Banks' custody liabilities4
By type of liability
7
U.S. Treasury bills and certificates5
8
Other negotiable and readily transferable
instruments'"
9
Of which: negotiable time
certificates of deposit held in custody
for foreigners
10
Of which: short-term agency securities7 . . .
11
Other
12 International and regional organizations5 . . . .
13
Banks' own liabilities
14
Deposits2
15
Other
16
Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments'"
3,795,513
3,956,259' 4,065,810' 4,087,271' 4,243,100' 4,296,221' 4,160,194 4,350,943
2,981
2,299,950
2,879,372
3,022,249' 3,110,915' 3,113,459' 3,295,191' 3,347,132' 3,238,714
3,362,902
955,072
1,127,909
665,127
828,535
1,043,801
1,256,149
713,327
1,316,219
1,563,153
986,473
1,431,577
1,931,325
1,311,265
780,957
916,141
259,843
250,811
319,598
371,321
1,321,902 1,353,268 1,348,298 1,430,016' 1,440,057' 1,406,494
1,700,347' 1,757,647' 1,765,161' 1,865,175' 1,907,075' 1,832,220
1,101,410 1,159,388 1,180,443 1,244,182 1,258,063 1,205,172
949,089
947,909'
954,895
934,010
244,578'
226,638
249,109'
257,269
277,693
252,019
401,431'
400,660
397,013'
387,515
386,363
384,483
48,260
152,789
194,583
53,594
136,783
201,516
66,145
113,755
294,009
66,456
108,181
297,508
69,592
108,847
310,111
70,622
112,775
309,756
72,272
106,062
301,787
74,692
109,965
303,080
76,572
114,427
294,182
92,081
120,756
303,755
15,654
10,363
6,098
4,265
5,291
1,879
20,793
15,612
8,361
7,251
5,181
1,085
29,425
25 770
19,021
6,749
3,655
800
32,539
28,908
22,234
6,674
3,631
380
37,940
29,111
21,539
7,572
8,829
5,679
36,096
28,271
22,527
5,744
7,825
4,535
31,476
27,370
21,635
5,735
4,106
710
29,898'
26,368'
19,895
6,473'
3,530
355
30,209
26,453
20,532
5,921
3,756
383
30,157
26,485
20,632
5,853
3,672
287
2,911,516
318,783
988,041
245,385
438,901
3,412
4,096
2,855
3,251
3,150
3,290
3,396
3,373
3,385
515,586
145,516
26,613
118,903
498,510
170,984
45,426
125,558
461,691
178,989
51,380
127,609
476,147
192,647
56,189
136,458
498,099
213,173
55,544
157,629
507,441
206,656
50,723
155,933
497,503'
218,114'
56,477'
161,637'
486,134
211,802
59,112'
152,690'
492,427
225,286
58,169
167,117
528,451
245,011
58,666
186,345
370,070
245,199
327,526
201,863
282,702
176,829
283,500
181,356
284,926
181,798
300,785
194,914
279,389
177,958
274,332
172,500
267,141
160,745
283,440
176,036
26 Banks10
27
Banks' own liabilities
28
Deposits2
29
Other
30
Banks' custody liabilities4
31
U.S. Treasury bills and certificates5
32
Other negotiable and readily
transferable instruments'" . . .
33
Other
,574,793
,354,437
773,703
580,734
220,356
26,978
1,792,040
1,566,967
841,248
725,719
225,073
23,771
52,400
140,978
48,776
152,526
66,350
242,295
34 Other foreigners''
35
Banks' own liabilities
36
Deposits2
37
Other
805,483
572,665
148,658
424,007
769,564
546,387
148,766
397,621
1,092,553
802,475
222,881
579,594
38
39
40
232,818
44,727
223,177
33,124
290,078
42,121
318,996
43,151
318,524
42,384
321,845
46,623
335,862'
45,661'
336,355
43,991'
331,408
39,684
361,942
40,641
136,192
51,899
142,188
47,865
196,345
51,612
222,770
53,075
224,006
52,134
221,589
53,633
233 458'
56,743
235,676'
56,688
231,682
60,042
260,106
61,195
43 Total, all foreigners
2,911,516
3,080,907
3,795,513
3,956,259' 4,065,810" 4,087,271' 4,243,100' 4,296,221' 4,160,194 4,350,943
44 Foreign countries . .
2,895,862
3,060,114
3,766,088
3,923,720' 4,027,870" 4,051,175' 4,211,624' 4,266,323' 4,129,985
,050,895
4,355
13,512
3,147
1,088
81,852
54,822
1,178
64,050
7,198
50,305
18,170
32,742
1,545
70,186
8,410
6,118
99,224
5,188
470,304
21,262
110
36,129
1,229,338
3,604
16,022
1,537
3,612
71,486
58,960
1,200
68,660
7,075
61,065
14,502
27,921
2,716
101,335
9,535
4,771
140,140
9,895
563,253
29,559
119
32,371
1,441,576
3,797
14,528
931
3,204
68,895
69,548
1,488
83,715
7,350
72,867
25,190
42,393
2,250
62,704
9,041
3,715
54,532
10,369
848,398
33,348
295
23,017
19 Official institutions9
20
Banks' own liabilities
21
Deposits2
22
Other
23
24
25
41
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments'"
Banks' custodial liabilities
U.S. Treasury bills and certificates5 .
Other negotiable and readily
transferable instruments'"
Other
2,211,844 ! ,285,610 2,359,768
1,872,138
,957,727 2,017,152
1,022,937 1,021,244 1,052,704
849,201
936,483
964,448
339,706
327,883
342,616
31,061
27,132
27,408
56,361
244,390
57,411
257,797
3,175
106,396
107,404
2, 347,300 2,445,669' 2,507,270' 2,395,846
2,003,943 2,117,117' 2,172,398' 2,076,671
1,042,706 1,110,644' 1,116,720' 1,078,732
961,237 1,006,473 1,055,678
997,939
343,357
328,552
334,872
319,175
31,621
24,780
27,732
25,826
2,436,792
2,097,805
1,088,751
1,009,054
338,987
28,421
55,633
256,103
58,785
244,987
60,780
246,360
59,950
233,399
68,009
242,557
1,161,963' 1,170,003' 1,196,434' 1,268,452 1,272,919' 1,241,712
842,967'
851,479'
874,589'
932,590'
936,564'
910,304
244,330'
222,235
223,481
232,342
241,260
249,061
692,234
620,732'
627,998'
642,247'
691,330'
661,243
1,355,543
993,601
263,528
730,073
MEMO
42 Own foreign offices12
BY AREA OR COUNTRY
45 Europe
46
Austria
47
Belgium13
48 Denmark
49 Finland
50 France
51 Germany
52 Greece
53 Ireland
54 Italy
55 Luxembourg13
56 Netherlands
57 Norway
58 Portugal
59 Russia
60 Spain
61 Sweden
62
63 Switzerland
64 Turkey
65 United Kingdom
and Isle of Man14
66 Channel Islands
15
67 Yugoslavia
Other Europe and other former U.S.S.R.
Footnotes appear on next page.
,560,867
4,268
16,640
1,208
1,515
71,471
68,223
1,696
92,084
7,659
79,037
33,408
45,946
1,902
57,371
9,436
4,032
56,632
13,204
941,669
34,245
304
18,917
1,630,388
5,608
17,974
861
618
62,317
67,786
1,454
90,587
7,383
76,827
37,188
54,268
2,131
60,836
9,735
4,151
59,188
14,126
1,002,893
33,820
327
20,311
1,700,376
3,714
15,933
780
693
61,389
68,817
1,703
91,026
8,108
81,367
45,837
59,508
1,860
64,561
13,722
3,961
62,948
15,571
1,046,593
33,554
343
18,388
1,758,561' 1,791,938'
3,213
3,214
17,570
15,495
633
798
620
732
71,066
68,697'
70,390
68,497'
2,494
2,276
89,023
85,354
6,158
6,131
87,443
94,944
58,115
49,888
60,027
58,120
1,962
2,981
52,900
57,429
9,941'
9,274'
6,936
7,921
66,022'
68,453'
14,250
14,560
1,080,206' 1,126,125'
34,714
33,828
327
325
20,022
21,425
,735,280
3,297
17,064
652
2,425
60,544
72,065
1,528
89,675
6,527
98,078
40,752
74,558
2,957
50,609
11,992
7,104
63,995
14,459
,057,315
36,883
289
22,512
4,320,786
1,850,374
6,549
15,234
722
808
60,805
74,060
1,490
103,301
6,228
111,296
40,481
84,549
3,035
49,034
8,543
7,080
62,518
14,467
1,138,885
35,514
293
25,481
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
Juner
Apr.
July
MEMO
1,225,932
1,594,406
68 European Union17
n.a.
69 Canada
34,248
33,552
44,540
48,916
49,239
48,892
57,968
59,691
54,017
60,137
135,970
10,817
15,186
7,299
6,286
2,687
1,530
50,575
4,513
1,971
4,150
24,573
6,383
133,637
9,674
11,900
8,961
6,477
3,393
1,643
42,532
5,262
3,051
4,939
27,261
8,544
156,663
10,485
16,037
16,829
11,657
3,407
1,420
45,359
7,135
4,267
6,116
22,744
11,207
165,368
10,543
21,237
18,012
12,224
3,069
1,726
45,874
7,121
4,005
6,448
23,797
11,312
168,069
10,895
22,324
19,145
12,469
3,150
1,757
45,886
6,765
4,418
6,540
22,902
11,818
158,028
11,015
18,492
13,628
12,241
3,318
2,103
43,460
7,283
3,687
7,509
23,047
12,245
161,777'
11,057
16,233
16,682
11,794'
3,347
1,707
44,538
8,320
4,449
6,851
24,339
12,410
165,710
10,948
19,791
16,537
11,551
3,392
1,664
47,714
7,283
4,865
6,978
22,070
12,917
162,242
10,568
20,875
14,093
11,248
3,465
1,934
45,217
7,640
5,472
6,611
21,635
13,484
169,565
10,570
23,835
15,670
10,969
3,314
1,831
48,762
6,926
5,820
6,540
22,153
13,175
1,212,209
186,097
92,577
n.a.
884,980
110
829
5,863
1,624
40,129
1,214,058
211,459
52,132
n.a.
907,840
120
916
6,396
2,830
32,365
1,655,512
256,127
55,100
21,609
1,283,076
83
1,023
8,455
3,341
26,698
1,668,120' 1,698,613' 1,654,202' 1,747,942' 1,768,967
245,655
235,210
229,765
235,044
232,197
60,166
57,848
59,024
55,983
50,627
20,381
21,813
22,962
22,812
20,371
1,302,066 1,345,104 1,300,240 1,389,013 1,418,857
82'
83'
84'
83
82'
845
1,168
1,043
1,040
810
7,348
8,167
5,793
5,982
8,191
3,217
3,372
3,772
3,874
3,137
28,360
30,570
31,850
33,684
30,069
1,698,152
211,256
49 957
23,951
1,362,289
83
958
10,584
3,754
35,320
1,763,523
213,075
46,421
26,175
1,429,642
83
915
6,802
3,964
36,446
420,635
70 Latin America
71
Argentina
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru*
80
Uruguay
81
Venezuela
82
Other Latin America15
83 Caribbean
84
Bahamas
85
Bermuda
86
British Virgin Islands15
87
Cayman Islands19
88
Cuba
89 Jamaica
90
Netherlands Antilles
91
Trinidad and Tobago
92
Other Caribbean15
408,192
422,234
432,215
434,517
440,693
428,066
418,610
419,554
415,773
52,767
42,788
11,154
5,903
11,214
167,008
12,421
2,949
26,496
11,355
38,257
38,323
46,439
33,972
13,702
4,212
9,802
156,245
27,094
3,776
23,252
9,961
49,463
30,274
44,401
43,107
18,792
4,377
7,241
127,398
27,783
3,793
22,915
8,317
69,494
44,616
53,409
39,094
19,677
3,701
9,316
125,221
29,753
3,530
19,512
8,396
75,440
45,166
54,501
36,879
23,530
3,915
10,794
127,328
29,051
3,521
22,528
8,146
70,364
43,960
54,755
35,539
25,102
4,216
10,930
125,026
30,465
4,038
20,284
10,958
72,695
46,685
50,152
38,999
25,317
4,723
11,760
118,870
28,002
4,235
22,556
7,661
68,168
47,623
47,003
30,473
20,570
4,002
10,582
121,548
27,740
3,965
23,553
9,896
71,265
48,013
47,830
31,270
17,138
4,224
9,976
128,246
23,991
4,520
24,104
10,866
68,710
48,679
59,369
35,804
18,338
4,648
9,151
113,597
24,298
4,024
23,646
12,601
62,185
48,112
106 Africa
107
Egypt
108
Morocco
109
South Africa
110
Oil-exporting countries21
111
Other
14,580
2,711
156
3,284
4,326
4,103
20,095
4,953
138
3,049
6,858
5,097
14,774
2,252
198
1,389
4,438
6,497
16,540
3,509
206
2,417
4,359
6,049
15,777
3,343
271
2,147
4,066
5,950
16,805
4,230
213
2,002
4,015
6,345
18,188
4,162
252
2,104
4,751
6,919
20,507
5,892
167
2,257
5,280
6,911
19,378
4,070
169
1,959
4,913
8,267
20,521
3,937
192
2,693
5,783
7,916
112 Other countries
113 Australia
114
New Zealand22
115 All other
27,325
23,391
3,429
505
21,242
17,769
3,007
466
30,789
25,251
4,500
1,038
31,694
28,121
2,626
947
31,267
26,807
3,337
1,123
32,179
27,979
3,184
1,016
39,122
33,796
4,300
1,026
40,900
36,561
3,554
785
41,362
37,436
3,235
691
40,893
37,206
2,729
958
116 International and regional organizations
117
International23
118
Regional24
15,654
11,542
4,112
20 793
15,684
5,109
29,425
25,202
4,223
32,539
28,180
4,359
37,940
34,151
3,789
36,096
32,083
4,013
31,476
27,377
4,099
29,898
25,967
3,931
30,209
25,916
4,293
30,157
25,853
4,304
93 Asia
China
94
Mainland
95
Hong Kong
96
India
97
Indonesia
98
Israel
99 Japan
100
Korea (South)
101
Philippines
102
Taiwan
103 Thailand
104
Middle Eastern oil-exporting countries
105
Other
1. Reporting banks include all types of depository institutions as well as some banks/
financial holding companies and brokers and dealers. Excludes bonds and notes of maturities
longer than one year. Effective February 2003, coverage is expanded to include liabilities of
brokers and dealers to affiliated foreign offices.
2. Non-negotiable deposits and brokerage balances.
3. Data available beginning January 2001.
4. Financial claims on residents of the United States, other than long-term securities, held
by or through reporting banks for foreign customers. Effective February 2003, also includes
loans to U.S. residents in managed foreign offices of U.S. reporting institutions.
5. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
6. Principally bankers acceptances, commercial paper, negotiable time certificates of
deposit, and short-term agency securities.
7. Data available beginning January 2001.
8. Principally the International Bank for Reconstruction and Development, the InterAmerican Development Bank, and the Asian Development Bank. Excludes "holdings of
dollars" of the International Monetary Fund. Beginning with data for June 2006, also
includes the Bank for International Settlements.
9. Foreign central banks and foreign central governments. Before June 2006, also includes
the Bank for International Settlements.
10. Excludes central banks, which are included in "Official institutions." Includes positions with affiliated banking offices also included in memo line (44) above.
11. As of February 2003, includes positions with affiliated non-banking offices also
included in memo line (44) above.
12. For U.S. banks, includes amounts owed to own foreign branches and foreign subsidiaries consolidated in the quarterly Consolidated Reports of Condition filed with bank regulatory
agencies. For agencies, branches, and majority-owned subsidiaries of foreign banks, consists
principally of amounts owed to the head office or parent foreign office, and to foreign
branches, agencies, or wholly owned subsidiaries of the head office or parent foreign
bank.Effective February 2003, includes amounts owed to affiliated foreign offices of U.S.
brokers and dealers.
13. Before January 2001, data for Belgium-Luxembourg were combined.
14. Before January 2001, these data were included in data reported for the United
Kingdom.
15. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
16. For data prior to June 2006, also includes the Bank for International Settlements and
the European Central Bank.
17. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain, Sweden, and the United Kingdom. Data available beginning in June 2006. As of
January 2007, also includes Bulgaria and Romania.
18. Before January 2001, data for "Other Latin America" and "Other Caribbean" were
combined in "Other Latin America and Caribbean." Before June 2006, data for the British
Virgin Islands were included in "Other Caribbean."
19. Beginning January 2001, data for the Cayman Islands replaced data for the British
West Indies.
20. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
21. Comprises Algeria, Gabon, Libya, and Nigeria.
22. Before January 2001, these data were included in "All other."
23. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund. Beginning with data for June 2006,
also includes the Bank for International Settlements.
24. African, Asian, Caribbean, European, Latin American, and Middle Eastern regional
organizations.
*Note: Because of a production error, the data for Peru (line 79) in Table 3.17 were incorrect
in the August, September, and October 2007 editions of the Statistical Supplement. The data
for Peru in these editions have been corrected.
48
Federal Reserve Bulletin Statistical Supplement • September 2007
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
1,664,223
1,864,834
2,259,148
2,430,441
2,488,448
2,520,043
2,651,696' 2,709,734' 2,621,108' 2,705,004
2 Foreign countries
1,658,247
1,857,584
2,249,974
2,422,473
2,480,600
2,511,113
2,644,612' 2,701,919' 2,612,053' 2,696,451
806,546
4,429
7,751
735
11,840
90,941
26,196
94
14,023
16,906
5,864
22,090
25,517
1,576
1,089
8,452
17,027
114,167
2,542
404,844
26,878
3,585
918,660
4,139
11,900
864
9,247
88,873
30,027
97
16,426
18,482
8,201
20,958
14,688
832
1,264
8,372
9,452
143,892
3,270
487,492
32,566
7,618
1,143,970
4,277
13,592
1,032
9,434
112,378
18,155
250
24,304
30,991
7,144
29,578
31,032
924
1,732
9,734
8,905
105,364
3,697
688,140
36,893
6,414
1,285,468
4,752
16,824
355
8,947
132,106
20,855
182
27,900
30,935
7,332
26,781
23,174
943
1,681
9,660
7,930
135,731
3,674
779,679
40,060
5,968
1,333,515
4,794
31,717
404
10,175
128,549
20,729
271
27,341
28,022
7,974
35,222
24,218
969
1,664
19,295
7,075
151,264
3,847
783,689
39,051
7,244
1,367,076
3,959
27,020
4,140
13,578
129,890
19,927
177
26,170
24,963
8,145
34,062
24,249
826
1,736
23,387
5,369
163,224
3,368
806,510
39,186
7,190
1,449,271'
4,370
23,740
426
14,227
144,158
22,303'
177
27,988
24,106'
7,060
45,417
23,665
871
1,708
23,520
5,334
182,541
3,226
850,592'
37,702
6,141
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Ireland
12
Italy
13 Luxembourg2
14
Netherlands
15
Norway
16 Portugal
17
Russia
18
Spain
19
Sweden
20
Switzerland
21
Turkey
22
United Kingdom
23
Channel Islands and Isle of Man3
24
Other Europe and other former U.S.S.R.4 . .
1,506,802'
3,649
26,361
3,340
14,440
147,069
23,817'
143
29,168
23,335
9,947
46,905
20,632
696
1,720
20,484
4,264
191,921
3,362
886,840
41,886
6,823
1,420,414
3,713
34,567
448
13,579
140,595
24,689
135
28,180
23,856
9,727
49 493
18,558
987
1,716
16,614
4,704
165,393
3,268
827,817
43,447
8,928
1,478,744
4,337
22,595
1,034
15,018
152,501
24,905
176
28,080
24,309
11,719
50,450
21,109
993
1,839
17,758
4,942
155,630
3,253
886,038
43,127
8,931
MEMO
1,186,452
1,198,943'
1,111,130
963,667
25 European Union5
n.a.
26 Canada
51,088
64,104
71,509
79,564
68,958
74,998
95,412'
84,181
92,225
98,422
27 Latin America
28 Argentina
29
Brazil
30
Chile
31
Colombia
32
Ecuador
33
Guatemala
34
Mexico
35 Panama
36
Peru
37
Uruguay
38 Venezuela
39
Other Latin America1"
40 Caribbean
41
Bahamas
42
Bermuda
43
British Virgin Islands'"
44
Cayman Islands7
45
Jamaica
46
Netherlands Antilles
47
Trinidad and Tobago
48
Other Caribbean1"
49,378
2,220
14,094
6,213
2,645
469
866
13,440
1,939
1,529
403
2,844
2,716
51,170
2,290
15,111
6,642
2,438
582
872
14,601
2,076
1,226
464
2,273
2,595
58,374
2,703
19,835
6,474
2,490
604
1,016
16,531
2,316
1,446
347
2,279
2,333
58,078
2,685
19,760
5,198
3,346
717
1,058
16,590
2,196
1,489
397
2,293
2,349
61,005
2,697
22,319
5,125
3,471
674
1,048
16,676
2,132
1,432
433
2,693
2,305
62,041
2,671
21,483
5,647
4,070
574
1,098
16,773
2,381
1,352
1,100
2,383
2,509
61,983
2,954
21,588
5,468
4,318
628
1,003
16,885
2,461
1,576
272
2,479
2,351
66,415
3,036
23,161
5,631
4,137
748
1,009
18,331
2,943
2,087
293
2,518
2,521
68,304
3,253
24,607
5,929
4,197
770
1,058
17,990
3,221
2,176
323
2,385
2,395
71,884
3,762
24,334
6,051
4,435
828
1,096
20,449
3,209
2,447
282
2,559
2,432
596,931
80,183
33,294
n.a.
469,166
351
5,554
755
7,628
620,474
113,458
17,846
n.a.
475,227
444
4,444
907
8,148
738,110
120,843
17,704
2,807
586,272
636
2,484
1,055
6,309
775,151
121,423
18,448
2,666
621,830
628
2,402
1,093
6,661
797,680
127,679
17,832
3,024
638,349
633
2,393
893
6,877
785,259
135,500
24,575
4,007
612,991
742
2,646
1,034
3,764
808,395'
112,492
31,032
4,465
651,600'
752
2,818
809
4,427
823,623
124,100
19,741
3,871
666,263
570
2,461
571
6,046
804,048
133,432
14,098
5,302
642,407
558
2,514
678
5,059
815,536
131,300
22,658
5,379
646,758
579
2,490
534
5,838
142,656
190,610
221,574
207,573
202,799
205,949
212,046
203,656
209,176'
207,453
9,267
5,622
2,117
555
1,326
82,207
15,531
993
10,589
1,144
7,022
6,283
14,807
8,412
2,518
440
4,288
106,377
17,254
1,790
8,626
7,796
12,330
5,972
15,448
6,751
2,827
518
5,315
140,242
24,483
973
3,166
5,727
10,570
5,554
15,587
6,499
2,948
574
7,025
127,248
20,283
871
3,757
6,138
11,262
5,381
15,039
4,978
2,617
591
5,991
122,845
24,465
829
2,818
5,939
11,451
5,236
18,905
5,409
2,941
524
5,145
121,889
24,036
1,041
3,371
5,647
12,050
4,991
20,296
6,023
2,750
504
5,993
124,055
24,166
732
5,129
3,754
13,002
5,642
19,615
5,451
2,860
482
6,757
118,501
20,514
895
5,878
3,522
13,269
5,912
20,279
6,074
3,225
464
6,396
113,805'
25,926
1,083
5,650
5,584
14,501
6,189
24,809
6,961
3,611
513
6,375
108,210
24,268
820
5,970
6,416
13,597
5,903
1,262
228
53
318
223
440
1,621
422
63
331
317
488
1,845
597
56
247
403
542
1,906
595
63
333
332
583
1,760
661
55
189
290
565
1,755
662
57
197
313
526
2,098
664
53
430
381
570
1,805
686
31
188
309
591
1,742
399
34
324
283
702
1,761
434
64
194
292
777
10,386
9,695
609
82
10,945
10,226
541
178
14,592
13,100
1,250
242
14,733
13,521
950
262
14,883
13,929
491
463
14,035
13,063
608
364
15,407
13,765
1,357
285
15,437
14,033
1,089
315
16,144
14,957
852
335
22,651
20,751
1,532
368
5,976
7,250
9,174
7,968
7,848
8,930
7,084
7,815
9,055
8,553
49 Asia
China
50
Mainland
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Taiwan
59
Thailand
60
Middle Eastern oil-exporting countries5 . . .
61
Other
62 Africa
63 Egypt
64
Morocco
65
South Africa
66
Oil-exporting countries9
67
Other
68 Other countries
69
Australia
70
New Zealand10
71
Allother
72 International and regional organizations"
1. Reporting banks include all types of depository institutions as well as bank/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border brokerage
balances.
2. Before January 2001, combined data reported for Belgium-Luxembourg.
3. Before January 2001, data included in United Kingdom.
4. For data prior to June 2006, also includes the Bank for International Settlements and the
European Central Bank.
5. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain, Sweden, and the United Kingdom. Data available beginning in June 2006. As of
January 2007, also includes Bulgaria and Romania.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and Caribbean." Before June 2006, data for the British
Virgin Islands were included in "Other Caribbean."
7. Beginning 2001, Cayman Islands replaced British West Indies in the data series.
8. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
9. Comprises Algeria, Gabon, Libya, and Nigeria.
10. Before January 2001, included in "All other."
11. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
Bank-Reported Data
3.19
BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Payable in U.S. dollars
49
Reported by Banks in the United States1
Millions of dollars, end of period
2007
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
2004
2005
2006
Jan.
Feb.
2 430 441
89,327
1,785,633
555,481
2,488,448
96,698
1,826,923
564,827
Mar.
Apr.
May
2,651,696'
96,738
1,940,551'
614,407'
2,709,734'
85,828
1,986,867
637,039'
3,154,176'
June
July'
3,340,057
2,026,841
2,344,155
2,899,305'
1 664 223
71,892
1,187,954
404,377
1 864 834
72,919
1,391,775
400,140
2 259 148
97,494
1,633,409
528,245
362,618
152,520
107,533
88,423
14,142
479,321
227,685
91,196
140,863
19,577
640,157'
264,589'
168,304'
185,300'
21,964'
668,255
3,970
748,320
2,414
938,850
6,233
961,348
7,132
995,422
8,542
1,005,690
9,794
1,021,894
9,619
1,042,456
9,601
1,011,773
9,279
1,019,740
9,481
3,888
988,110
1,097,873
7,324
1,106,776
1 304 277
9,262
1,304,803
1 637 954
10,073
1,451,888
1 747 115
11,252
1,473,232
1 773 265
8,571
1,495,988
1 840 066
11,733
1,608,450'
1 964 516
12,208
1,645,469'
1 987 427
14,238
1,585,818'
1 909 669
13,410
1,662,373
1 935 454
479,422
482,090
622,139
717,562
750,573
739,225
786,906
820,982
790,484
864,273
2,520,043
92,499
1,861,924
565,620
634,133'
275,017'
148,713'
186,774'
23,629'
2,621,108'
95,195'
1,904,927'
620,986'
2,705,004
106,601
1,943,854
654,549
718,949
287,802
191,133
216,169
23,845
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 2007
3.22
LIABILITIES TO UNAFFILIATED FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.
By type
2 Financial liabilities
3
Short-term negotiable securities' . .
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
14
15
16
17
18
19
20
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
73,700
92,009
76,710
76,710
81,003
78,195
85,780'
89,217'
89,729
43,610
14.002
62,847
11,759
39,249
9,050
39,249
9,050
39,585
5,704
32,995
11,486
42,556
12,448
48,712
11,617
47,089
7,692
30,199
30,199
n.a.
n.a.
21,509
30,108
n.a.
n.a.
8,561
4,781
9,482
12,838
10,120
18,573
10,915
21,013
15,515
28,095
1,431
10,372
11,425
2,493
2,374
29,575
33,272
2,399
9,067
18,337
1,564
1,905
24,003
15,246
2,354
4,052
3,169
2,018
3,653
24,003
15,246
2,354
4,052
3,169
2,018
3,653
24,509
15,076
1,407
6,242
2,676
1,338
3,413
19,395
13,600
1,064
3,031
2,963
1,212
5,330
29,323
13,233
2,268
3,687
2,722
1,173
3,383
35,033
13,679
2,806
4,629
4,024
1,393
827
27,136
19,953
1,115
10,675
5,311
1,365
1,487
34,832
709
3,543
3,531
284
517
23,886
38,690
775
1,349
2,911
363
514
29,473
22,697
342
761
2,533
406
124
12,712
22,697
342
761
2,533
406
124
12,712
20,823
451
1,039
4,510
432
237
11,862
19,644
271
1,572
3,777
453
369
12,652
25,554
273
1,103
9,897
449
143
12,374
30,184
936
995
11,174
1,183
346
14,308
30,304
788
889
4,450
598
280
22,353
8,024
6,534
1,239
2,433
2,530
2,530
2,671
2,287
3,573
3,986
1,826
16,196
0
8,715
208
n.a.
7,178
26
18
7,603
0
991
70
n.a.
6,446
25
1
7,603
0
991
70
n.a.
6,446
25
9,683
0
769
56
n.a.
8,744
23
0
7,879
1
5
53
n.a.
7,732
27
0
9,648
0
0
48
n.a.
9,456
33
0
12,435
0
0
23
n.a.
12,265
30
0
12,589
0
49
24
n.a.
12,178
25
MEMO:
21
Euro area3
9,855
23
24
25
26
27
28
29
30
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
4,235
0
711
242
31
32
33
Asia
Japan
Middle Eastern oil-exporting countriesf
2,547
1,826
36
4,724
1,648
36
5,323
1,383
173
5,323
1,383
173
5,321
1,083
206
2,355
1,265
647
2,968
1,223
1,200
1,924
1,346
100
2,225
1,568
59
34
35
Africa
Oil-exporting countries'"
123
92
131
94
997
97
997
97
1,022
98
784
0
733
0
31
0
30
0
36
All other7
3,114
34
Nonbank-Reported Data
3.22
LIABILITIES TO UNAFFILIATED FOREIGNERS
the United States—Continued
51
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.
37 Commercial liabilities
38 Trade payables
39
Advance payments and other liabilities .
40
41
42
43
44
45
46
47
48
49
50
51
52
53
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial liabilities
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
30.090
17,174
12,916
29,162
18,181
10,981
37,461
23,050
14,411
37,461
23,050
14,411
41,418
26,542
14,876
45,200
30,119
15,081
43,224'
28,564'
14,660
40,505'
25,673'
14,832
42,640
27,165
15,475
27,632
2,458
199
787
606
209
657
25,811
3,351
224
1,058
704
296
1,069
34,725
2,736
171
989
471
308
797
34,725
2,736
171
989
471
308
797
38,731
2,687
134
1,098
463
300
692
41,995
3,205
699
1,100
393
304
709
40,171'
3,053
668
601
423
387
974
37,298'
3,207
730
610
470
377
1,020
39,114
3,526
745
640
551
410
1,180
9,821
159
900
855
384
1,367
3,025
9,030
123
1,019
1,024
305
564
3,407
10,574
109
1,870
1,113
489
1,113
2,882
10,574
109
1,870
1,113
489
1,113
11,367
86
1,979
1,089
626
664
3,606
11,528
138
1,888
1,242
423
856
3,372
11,611'
156
1,525'
1,198'
618
1,348'
3,600'
10,962'
222
1,567'
1,217'
526
724'
3,046'
11,760
123
1,608
1,279
498
1,527
3,262
2,166
2,145
2,375
2,375
3,066
4,112
3,519
3,708'
4,127
3,406
14
513
233
5,748
70
713
218
n.a.
76
2,209
680
5,748
70
713
218
n.a.
76
2,209
680
5,748
82
40
1,298
329
4,276
32
515
113
n.a.
101
1,942
433
219
2,748
492
7,399
64
851
216
n.a.
629
2,795
461
6,563'
85
720
204'
n.a.
569
2,518'
465
5,757'
70
777
241'
n.a.
539
2,120'
353
6,272
109
744
141
n.a.
485
2,321
570
13,311
4,370
3,148
12,239
4,221
2,910
17,427
5,971
3,986
17,427
5,971
3,986
20,039
6,089
5,432
20,403
6,182
5,344
20,042'
6,031
4,978
18,755'
5,864'
3,855
18,753
5,703
4,656
782
372
947
424
916
493
916
493
713
342
1,294
755
969
591
849
283
952
599
MEMO
54
55
Euro area3
Canada
56
57
58
59
60
61
62
63
64
65
66
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
67
68
Africa
Oil-exporting countries'"
69
All other7
4,198
5,480
1. Data available beginning March 2003. For data on borrowings and repurchase agreements, data available on a consistently defined basis beginning in June 2006.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece. Although
Slovenia joined the euro area January 2007, separate data for Slovenia are not available.
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 Emir
ates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
52
Federal Reserve Bulletin Statistical Supplement • September 2007
3.23
CLAIMS ON UNAEFILIATED FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
1 Total
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
By type
Financial claims
Non-negotiable deposits
Negotiable securities
Of which:
Negotiable CDs1
Other claims
Of which:
Loans'
Repurchase agreements'
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
100,916
143,232
144,950
144,950
130,321
118,575'
124,815'
126,032'
131,225
67,347
35,465
3,204
110,517
47,270
9,892
111,394
50,149
13,180
111,394
50,149
13,180
94,892
40,565
12,365
81,661'
41,964
544'
88,855'
34,378
2,152'
88,646'
31,909
2,744'
93,073
28,337
579
157
28,678
103
53,355
65
48,065
65
48,065
2
41,962
18
39,153
12
52,325
15
53,993
6
64,157
n.a.
n.a.
14,453
2,726
14,443
15,196
10,057
17,842
12,174
22,603
n.a.
n.a.
57,894
9,453
912
2,776
3,242
831
1,692
67,445
43,072
1,329
20,651
9,219
7,345
4,528
75,802
35,592
9,348
9,308
7,635
3,537
5,764
75,802
35,592
9,348
9,308
7,635
3,537
5,764
60,754
34,138
7,823
8,164
8,332
3,510
6,309
59,240'
22,421
8,473
4,635
4,476
610
4,227
63,946'
24,909
10,416
6,337
4,361
656
3,139
66,871'
21,775
8,454
5,843
4,014
746
2,718
64,047
29,026
4,336
16,280
4,936
777
2,697
28,970
391
3,049
2,859
2,789
617
11,438
48,714
2,177
1,452
5,386
7,389
978
23,982
42,736
1,743
2,752
2,729
3,033
1,152
22,111
42,736
1,743
2,752
2,729
3,033
1,152
22,111
36,038
1,286
1,639
2,315
3,148
1,449
20,103
23,738'
565
2,861
2,428
1,649
864
9,550'
34,038'
618
2,563
9,084
2,610
795
12,004'
34,070'
328
1,310
8,506
2,842
706
13,713'
44,607
445
2,119
8,447
4,437
722
21,847
5,311
6,412
13,372
13,372
12,056
12,959
15,110
14,118
10,177
26,215
1,049
564
1,832
20,015
1,629
131
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
45,063
1,590
1,590
1,950
n.a.
36,355
2,019
159
45,063
1,590
1,590
1,950
n.a.
36,355
2,019
159
37,353
2,368
1,583
1,655
n.a.
29,253
1,424
163
38,198
3,802
1,602
1,703
n.a.
28,980
1,176
136
32,776
4,463
1,631
1,419
n.a.
23,146
1,236
117
34,890
3,901
1,231
1,982
n.a.
25,728
1,175
102
32,293
5,762
1,296
1,655
n.a.
20,885
1,098
116
5,317
1,194
158
6,840
993
137
7,223
568
242
7,223
568
242
6,566
496
251
4,105
665
705
4,248
779
1,209
3,238
882
60
3,841
1,563
82
306
8
1,291
37
1,291
37
1,268
36
1,112
36
1,067
34
345
34
MEMO:
23
24
Euro area3
Canada
25
26
27
28
29
30
31
32
33
34
35
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
36
37
Africa
Oil-exporting countries'"
38
All other7
15,067
18,829
1,096
1,709
1,549
1,985
Nonbank-Reported Data
3.23
CLAIMS ON UNAEFILIATED FOREIGNERS
the United States—Continued
53
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
39 Commercial claims
40
Trade receivables
41
Advance payments and other claims .
33.569
28,618
4,951
32,715
29,229
3,486
33,556
29,231
4,325
33,556
29,231
4,325
35,429
30,961
4,468
36,914
32,577
4,337
35,960'
31,337'
4,623
37,386
32,802
4,584
38,152
33,260
4,892
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling . .
Japanese yen
All other currencies
25,494
8,075
1,557
1,542
1,187
589
3,200
27,439
5,276
512
1,561
1,586
238
1,379
29,898
3,658
481
1,335
706
187
949
29,898
3,658
481
1,335
706
187
949
31,567
3,862
394
1,727
713
126
902
33,539
3,375
424
1,344
659
150
798
32,372'
3,588
546
1,345
584
233
33,160
4,226
740
1,108
661
281
1,436
34,289
3,863
608
1,360
734
221
940
14,552
247
2,816
1,273
395
1,921
3,928
13,457
257
2,261
1,401
494
1,528
3,742
12,084
470
2,311
1,509
354
724
2,677
12,084
470
2,311
1,509
354
724
2,677
14,531
479
2,286
1,468
653
742
4,721
14,003
420
2,368
1,675
478
659
4,130
14,019'
475'
2,059
1,639'
527
1,043
3,802'
14,105
443
2,110
1,642
728
718
3,789
14,845
481
2,114
1,765
578
830
4,260
7,663
7,878
3,070
2,017
2,750
2,750
2,753
3,179
2,483'
3,402
2,850
5,153
26
460
903
n.a.
52
1,339
230
6,477
55
650
935
n.a.
160
2,018
319
6,757
41
648
1,022
n.a.
61
2,089
6,757
41
648
1,022
n.a.
61
2,089
380
7,037
35
731
938
n.a.
200
2,247
403
7,854
39
1,166
973
n.a.
488
1,896
371
7,355'
31
464
1,046
n.a.
563
2,016'
349'
7,146
48
503
945
n.a.
323
2,067
379
7,779
29
662
914
n.a.
401
1,980
426
7,352
1,757
8,943
1,855
1,071
10,073
2,128
1,558
10,073
2,128
1,558
9,148
2,167
1,419
10,146
2,158
1,843
10,321'
2,207'
1,727
11,011
2,467
1,754
10,849
2,504
1,600
636
138
629
154
830
258
830
258
915
313
961
315
1,037
359
892
298
962
266
42
43
44
45
46
47
48
49
50
51
52
53
54
55
By area or country
Commercial claims
Europe
Belgium-Luxembourg . . . .
France
Germany
Netherlands
Switzerland
United Kingdom
MEMO
Euro area3
Canada
58
59
60
61
62
63
64
65
66
67
68
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
69
70
Africa
Oil-exporting countries'"
7,340
1,192
1. Data available beginning March 2003. For data on loans and repurchase agreements,
data available on a consistently defined basis beginning in June 2006.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece. Although
Slovenia joined the euro area January 2007, separate data for Slovenia are not available.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
8,119'
1,045
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emir
ates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
54
Federal Reserve Bulletin Statistical Supplement • September 2007
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.July
Apr.
U.S. corporate securities
STOCKS
927,053
905,833
12,361
9,475
42,044
81,993
954
150,358
5,766
164,197
3,305
22,761
-571
12,364
317
9,471
415
27,459
-653
42,049
-673
28,838
1,655
21,255
2,815
39,592
5,757
7,675
-3,278
1,660
7,924
-2,326
1,334
19,775
350
16,549
-103
15,414
1,789
8,399
-528
1,050
72
281
72
97,066
1,625
21,735
-8,040
-1,788
11,608
-5,363
1,180
75,764
102
11,805
2,166
35,068
7,974
-4,490
471
-463
-669
89
79,900
-610
10,490
1,415
102
-777
12,168
-3,200
59,955
1,138
686
989
63,168
2,037
12,890
2,637
17,790
-5,278
-113
4,640
13,754
147
3,577
-864
30
-382
1,417
579
8,032
229
-124
77
10,413
649
-2,499
-91
207
-1,252
4
487
3,527
-330
-743
3,883
929
563
-2,056
-842
2,952
79
-677
-13
8,790
-63
571
-26
-359
868
-99
328
9,210
-368
-325
1,452
-160
-222
1,742
-897
9,101
73
-724
452
-1,395
-82
1,325
-23
1,531
7
-27
712
12,850
-363
2,620
439
-513
-16
-1,700
-390
12,523
235
-91
-299
14,758
-718
220
3
1,677
-602
-20
759
23,440
-183
2,499
1,215
38
-468
11,011
40
9,898
221
643
65
13,483
539
2,818
-118
4,135
-497
20
1,041
11,013
302
3,271
-5,224
-267
-511
-1,219
-751
14,761
266
684
189
12,528
36
3,570
2,942
4,808
-2,636
-44
862
6,106
185
-409
514
45
259
2,973
-939
2,688
35
975
518
4,591
1,676
6,885
-50
5,791
-1,166
53
451
1,097,458
878,202
1,572,160
1,283,493
1,105,915
941,045
143,450
107,677
142,507
140,030
159,064
143,916
159,266
123,145
165,749'
138,654'
171,020
131,426'
164,859
156,197
28 Foreign sales
219,256
288,667
164,870
35,773
2,477
15,148
36,121
27,095'
39,594'
8,662
29 Net purchases, or sales (-)
218,983
31,629
288,431
92,632
164,779
86,349
35,790
15,751
2,513
4,545
15,028
16,108
36,155
13,691
27,131'
12,793
39,476'
15,993
8,686
7,468
55,564
-398
500
5,938
3,591
1,583
1,259
-1,971
40,819
54
12,476
15,473
17,304
1,810
115,851
22,986
16,289
59,140
-103
608
88,523
-274
-261
4,471
4,133
5,028
-655
-186
53,275
1,528
9,507
13,971
39,741
7,037
128,750
37,401
31,659
44,761
-198
1,100
55,285
42
2,004
938
-533
-1,123
-81
-886
36,233
4,529
3,035
9,660
-5,982
8,839
93,547
50,739
19,397
4,143
90
305
12,074
-30
706
252
-195
-2,156
-361
-78
10,384
31
521
2,150
3,377
2,189
15,389
11,400
2,823
-1,088
10
-1,218
49
904
-304
-163
1,535
-143
-213
-3,014
312
379
1,152
-6,464
1,011
7,542
2,516
3,177
1,104
36
75
4,375
149
-385
-82
-280
943
-681
-181
1,655
2,192
571
-554
-32
1,975
8,709
5,756
1,725
-2,826
15
-31
11,283
-67
908
196
-143
187
70
132
6,975
197
1,031
736
2,555
861
19,787
8,946
3,383
3,549
-6
-92
5,754'
-26
-75
50
148
-855'
127
-717
3,943'
1,481
-483
1,229
-1,940'
1,149
21,331'
9,861'
2,918
3,225
-11
102'
15,935'
9
34
274
227
-86
606
11,276'
-319
667
2,019
25
1,845
18,872
9,741
2,208
5,037
-9
122
7,082
-42
-88
552
-128
-691
300
169
5,014
635
349
2,928
-3,503
-191
1,917
2,519
3,163
-4,858
55
49
1,277,006
904,784
1,668,036
1,167,658
1,174,372
902,489
155,256
112,216
159,105
112,598
187,433
143,140
142,598'
109,071
211,927'
137,543'
181,126'
155,186'
136,927
132,735
55 Net purchases, or sales (-)
372,222
500,378
271,883
43,040
46,507
44,293
33,527'
74,384'
25,940'
4,192
56 Foreign countries
57
Of which: by foreign official institutions . .
369,370
19,141
499,355
28,556
270,979
22,415
42,957
2,383
46,447
5,553
44,305
2,873
33,600'
2,911
74,065'
3,964
25,803'
3,701
3,802
1,030
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
241,709
3,625
13,156
6,488
12,184
4,610
2,772
3,742
168,881
16,570
2,279
7,203
40,488
1,022
69,910
26,130
11,012
25,617
394
6,365
305,702
-2,097
22,144
-11,831
13,937
3,365
3,197
9,739
243,334
10,388
8,052
10,029
91,309
4,666
72,282
31,158
14,810
12,646
-188
7,503
176,712
-5,663
3,944
2,749
6,823
-2,206
-473
1,934
1,934
7,756
10,172
3,046
27,185
1,253
48,201
23,842
6,804
8,750
-209
4,619
30,735
-1,513
3,723
285
1,989
-746
-217
491
27,729
650
377
698
3,593
221
7,487
3,401
1,234
1,564
-86
-68
27,250
-781
1,505
187
1,220
925
-253
749
22,027
458
3,153
92
5,227
25
7,702
4,043
220
773
52
2,946
26,179
-682
93
153
352
487
276
-615
24,959
-104
1,732
158
9,712
512
5,901
2,700
2,051
424
29
21,390'
-408
38
520
1,717
-904
-161'
-134
18,713'
1,792
815
357
5,238
330
5,412
3,445
661
-3
-8
66
53,218'
-313
65
1,347'
407'
993
-114
399
45,800'
3,682
1,854'
589
9,575'
109
6,938
3,550
961
322
-73
1,855'
19,830'
-1,555
-1,424
-256
203
-67
98'
1,224'
17,549'
3,294
646
369
-6,831
346
11,348'
4,776
1,326
4,623'
-6
101
-1,890
-411
-56
513
935
-2,894
-102
-180
3,456
-2,016
1,595
783
671
-290
3,413
1,927
351
1,047
-117
-363
3 Net purchases, or sales (-)
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Foreign countries
Of which: by foreign official institutions . . .
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
619,724
596,973
881,343'
852,503'
150,402
4,731,749
4,649,799
5,489,925
5,325,774
861,753
819,709
880,527
871,052
2 Foreign sales
6,868,558
6,718,156
690,355
662,895
629,170
616,809
1 Foreign purchases
21,220
26 International and
regional organizations2
U.S. GOVERNMENT AGENCY BONDS
27 Foreign purchases
30 Foreign countries
31 Europe
Of which: by foreign official institutions . . .
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
52 International and
regional organizations2
CORPORATE BONDS 3
53 Foreign purchases
54 Foreign sales
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
78 International and
regional organizations3
1,023
Securities Holdings and Transactions
3.24
55
FOREIGN TRANSACTIONS IN SECURITIES—Continued
Millions of dollars
2007
Transaction, and area or country
2005
2007
2006
Jan.July
Jan.
Feb.
Mar.
Apr.
May
June
July-
-7,658
370,379
378,037
-16,453
448,533
464,986
-13,519
451,421
464,940
-6,423
469,306
475,729
Foreign securities
79 Stocks, net purchases or sales (-) 4
-127,296
2,240,104
2 367 400
80 Foreign purchases
82 Bonds, net purchases or sales (-) 4
-106,455
3,636,185
3 742 640
-80,479
2,863,187
2 943 666
-12,595
330,819
343,414
-16,418
361,592
378,010
-7,413
431,137
438,550
-45,095
-144,452
-79,139
-1,444
-4,570
-34,927
-9,666
-21,190
-8,245'
903
83 Foreign purchases
1,459,882
1 504 977
1,879,713
2 024 165
1,849,521
1 928 660
217,115
218,559
232,772
237,342
275,255
310,182
261,522
271,188
293,776
314,966
279,057
287,302'
290,024
289,121
85 Net purchases, or sales (-) of stocks and bonds4
-172,391
-250,907
-159,618
-14,039
-20,988
-42,340
-17,324
-37,643
-21,764'
-5,520
86 Foreign countries
87 Europe
-165,403
-81,669
-15,952
-46,382
-4,559
-23,487
5,474
-45,551
-32,842
-1,668
-13,943
-256,016
-220,413
-54,927
-157,698
-18,153
-12,714
25,656
-18,652
2,159
-2,252
-9,488
-171,291
-161,179
-53,775
-102,550
-3,070
-5,287
5,592
4,148
-7,389
462
-11,957
-14,200
-11,965
-1,067
-12,128
2,761
1,898
-2,587
-3,556
-792
177
-928
-25,401
-26,067
-8,177
-19,662
-1,214
56
8,195
-4,303
-4,645
345
-2,413
-45,157
-42,328
-15,477
-20,128
-2,371
481
-5,320
8,165
744
-113
-3,671
-18,586
-11,367
-4,530
-4,570
-503
177
580
-4,391
-3,194
-169
-2,913
-37,709
-39,191
-7,461
-30,829
-1,620
-4,619
8,491
-690
-1,247
-1
-79
-24,552'
-25,061'
-14,433'
-12,894'
-894
-3,229
1,943'
4,270
-557
-5,686
-5,200
-2,631
-2,339
771
-51
-5,710
4,653
2,302
190
-339
-6,988
5,109
11,673
161
4,413
2,817
1,262
66
89
United Kingdom
91 Latin America
93 Asia
95 Africa
97 Nonmonetary international and
regional organizations2
1. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
2. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
-1,614
2,788
166
3. Includes state and local securities. Also includes issues of new debt securities sold
abroad by U.S. corporations organized to finance direct investment abroad.
4. Net foreign sales (-) of foreign securities are equivalent to net U.S. purchases of foreign
securities.
5. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.July
Apr.
May
1 Total reported
338,112
92,995
15,157
2 Foreign countries
3
Of which: by foreign official institutions
335,160
68,689
194,714
69,639
94,437
2,577
15,296
-5,254
18,613
2,172
29,793
1,377
415'
9,364
13,494'
13,221'
-4,590
26,543
6,433
-9,444
-6,925
173,638
500
9,559
14,497
1,246
2,046
-6,095
6,414
1,832
-4,904
134,118
419
14,006
21,452
357
-1,600
2,116
-1,325
-1,293
684
5,063
702
-2,898
91,782
-296
5,690
14,161
66,628
-1,688
828
-800
451
-185
-278
-62,380
3,986
-3,028
118,067
-578
12,234
-348
9,807
-631
2,396
3,971
848
-256
769
-11,683
1,932
-244
10,418
-98
2,386
902
9,598
55
-1,116
-2,251
225
-560
790
-8,202
886
-1,100
19,679
-114
1,305
1,671
11,331
-829
-1,809
-906
-430
-36
-39
-5,263
-17
-232
23,334
-176
-2,266
228
-16,373'
322
-314'
3,043'
-3,273
-26
394'
-5,175
-80
-778
-10,692'
146
60'
-631'
40,913'
-612
1,304
2,000'
3,543'
419
-2,475'
-4,317
596
-135
35,689'
-153
5,053'
1,105'
12,821
-179
31
-2,558
-264
384
1,734
-14,857
287
818
23,281
-178
4,321
-2,365
-1,469
185
335
-4,099
-196
-110
-1,453
-12,883
382
-1,357
16,358
-5
1,375
-1,258
6,631
7,109
-728
-77
327
13,200
9,011
1,741
18
2,430
10,746
10,002
603
-6
147
3,140
1,891
810
115
324
14,797
12,199
900
13
1,685
6,441
10,942
-4,297
7
-211
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Norway
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man
Other Europe and former U.S.S.R. . .
Canada
18
19
20
21
22
Latin America
Brazil
Mexico
Venezuela
All other Latin America
23,368
12,269
9,756
518
825
21,838
23,100
-322
242
-1,182
57,309
52,856
-340
75
4,718
2,354
1,702
631
5
16
23
Caribbean
44,997
-9,838
-41,342
-3,921
-722
12,390
-3,758'
-2,825
-9,258
24
25
26
27
28
29
30
Asia
China, Mainland
Hong Kong
Japan
Korea
Middle East Oil Exporters2
All other Asia
68,317
37,369
12,313
-5,015
1,459
2,063
20,128
68,694
40,633
16,257
1,312
6,168
4,548
-224
5,957
11,601
6,421
-11,018
-12,701
5,646
6,008
5,387
235
2,232
3,286
-3,684
1,399
1,919
1,726
9,640
2,587
-9,655
-4,003
193
2,964
-7,110
3,677
-1,001
-4,483
-745
766
-5,324
8,901'
-941
290'
3,344
-310'
851
5,667'
-772'
-3,215
1,903'
-954'
-3,205
2,042
2,657
3,886
2,765
2,023
-600
-797
583
-88
-6,061
-560
-1,613
-1,956
43
-188
-1,787
2,222
2,027
3,515
2,400
4,295
4,063
179
501
-199
109
-15
84
820
836
1,640
1,197
1,323
994
547
342
1,166
-2,638
1,938
-92
-231
710
443'
-1,094
1,614
2,952
822
-1,442
-51
212
48
273
-1,861
76
31
Africa
32
African oil exporters3
33
Other countries
34
International and regional organizations
4
1. Official and private transactions in marketable U.S. Treasury securities having an
original maturity of more than one year. Data are based on monthly transactions reports.
Excludes nonmarketable U.S. Treasury bonds and notes held by official institutions of foreign
countries.
2. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
3. Comprises Algeria, Gabon, Libya, and Nigeria.
4. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
56
Federal Reserve Bulletin Statistical Supplement • September 2007
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
2007
Item
2004
2005
2006
Feb.
Mar.
Apr.
May
June
July
0.8273
2.0302
1.1350
7.7247
5.5155
1.3513
7.8154
42.02
118.93
3.4364
10.980
0.7345
6.0098
1.5150
7.1026
930.69
109.360
6.8371
1.2124
33.145
32.421
1.9879
2,144.60
0.8254
1.9836
1.0951
7.6773
5.5120
1.3518
7.8187
40.57
120.77
3.4002
10.822
0.7334
6.0220
1.5231
7.0148
927.56
110.800
6.8094
1.2211
33.278
32.818
1.9842
2,144.60
0.8423
1.9323
1.0651
7.6333
5.5463
1.3421
7.8142
40.59
122.69
3.4444
10.833
0.7570
5.9980
1.5367
7.1515
927.87
110.966
6.9485
1.2330
32.974
32.318
1.9867
2,144.60
0.8677
1.8812
1.0502
7.5757
5.4199
1.3726
7.8197
40.27
121.41
3.4397
10.815
0.7862
5.7807
1.5156
6.9730
918.12
111.672
6.6933
1.2069
32.810
30.387
2.0355
2,144.60
Exchange rates
COUNTRY/CURRENCY UNIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Australia/dollar2
Brazil/real
Canada/dollar
China, P.R./yuan
Denmark/krone
European Monetary Union/euro3
Hong Kong/dollar
India/rupee
Japan/yen
Malaysia/ringgit
Mexico/peso
New Zealand/dollar2
Norway/krone
Singapore/dollar
South Africa/rand
South Korea/won
Sri Lanka/rupee
Sweden/krona
Switzerland/franc
Taiwan/dollar
Thailand/baht
United Kingdom/pound2
Venezuela/bolivar
0.7365
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
0.6643
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
1.8330
1,886.13
0.7627
2.4352
1.2115
8.1936
5.9953
1.2449
7.7775
44.00
110.11
3.7869
10.894
0.7049
6.4412
1.6639
6.3606
1,023.75
100.383
7.4710
1.2459
32.131
40.252
1.8204
2,107.13
0.7535
2.1738
1.1340
7.9723
5.9422
1.2563
7.7681
45.19
116.31
3.6661
10.906
0.6492
6.4095
1.5882
6.7668
954.32
103.940
7.3718
1.2532
32.507
37.876
1.8434
2,144.60
0.7830
2.0939
1.1710
7.7502
5.6981
1.3080
7.8114
44.02
120.50
3.4949
10.995
0.6934
6.1860
1.5333
7.1755
936.90
108.684
7.0200
1.2393
32.968
33.888
1.9589
2,144.60
0.7932
2.0883
1.1682
7.7369
5.6232
1.3246
7.8132
43.79
117.26
3.4894
11.114
0.6995
6.1401
1.5242
7.3525
942.88
109.294
7.0171
1.2178
33.010
32.642
1.9474
2,144.60
Indexes4
NOMINAL
24 Broad (January 1997=100)s
25 Major currencies (March 1973=100)°
26 Other important trading partners (January
1997=100)7
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
29 Other important trading partners (March
1973=100)7
113.63
85.37
110.71
83.71
108.52
82.46
107.23
82.07
106.67
81.23
105.30
79.87
104.40
79.20
104.12
78.93
102.77
77.51
143.38
138.89
135.38
132.77
132.80
131.64
130.48
130.23
129.26
99.46'
91.00
97.82'
90.81'
96.67'
90.74'
94.65'
90.30'
94.93'
89.98'
94.29'
88.85'
93.91'
88.47'
93.69'
88.24'
92.14
86.63
119.96'
116.26'
113.52'
109.20'
110.32'
110.26'
109.84'
109.60'
108.01
1. Averages of certified noon buying rates in New York for cable transfers. Data in this
table also appear in the Board's G.5 (405) monthly statistical release, available at
www.federalreserve.gov/releases.
2. U.S. dollars per currency unit.
3. The euro is reported in place of the individual euro area currencies. By convention, the
rate is reported in U.S. dollars per euro.
4. Starting with the January 2004 Statistical Supplement to the Federal Reserve Bulletin,
revised index values resulting from the periodic revision of data that underlie the calculated
trade weights are reported. For more information on the indexes of the foreign exchange value
of the dollar, see Federal Reserve Bulletin, vol. 91 (Winter 2005), pp. 1-8.
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 Bloomberg LLP.
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 Bloomberg LLP.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title, Table Number, and Reporting Date for Data
Issue
Page
Reference
Assets and liabilities of commercial banks, 4.20
September 30, 2006
December 31,2006
March 31,2007
June 30, 2007
December
March
June
September
2006
2007
2007
2007
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks, 4.23
August 2006
November 2006
February 2007
May 2007
November
February
May
August
2006
2007
2007
2007
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
June 30, 2006
September 30,2006
December 31,2006
March 31,2007
November
February
May
August
2006
2007
2007
2007
64
64
64
64
Supplement
Supplement
Supplement
Supplement
August 2001
October 2001
January 2002
A76
A64
A64
Bulletin
Bulletin
Bulletin
September 2002
September 2003
September 2004
A58
A58
58
Bulletin
Bulletin
Supplement
September 2002
September 2003
September 2004
A67
A67
67
Bulletin
Bulletin
Supplement
Pro forma financial statements for Federal Reserve priced services, 4.31*
March 31,2001
June 30, 2001
September 30, 2001
Residential lending reported under the Home Mortgage Disclosure Act,
1989-2001
1990-2002
1991-2003
Disposition of applications for private mortgage insurance,
1998-2001
1999-2002
2000-2003
Small loans to businesses and farms,
1997-2003
1998-2004
1999-2005
2000-2006
4.34-4.411
4.42-4.45
4.46-4.48
Community development lending reported under the Community Reinvestment Act, 4.49
2003
2004
2005
2006
September
September
September
September
2004
2005
2006
2007
70
60
60
60
Supplement
Supplement
Supplement
Supplement
September
September
September
September
2004
2005
2006
2007
73
63
63
63
Supplement
Supplement
Supplement
Supplement
*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 2007
4.20
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities
Consolidated Report of Condition, June 30, 2007
Millions of dollars except as noted
Domestic
total
1 Total assets
2 Cash and balances due from depository institutions
3
Cash items in process of collection, unposted debits, and currency and coin
4
Cash items in process of collection and unposted debits
5
Currency and coin
6
Balances due from depository institutions in the United States
7
Balances due from banks in foreign countries and foreign central banks
8
Balances due from Federal Reserve Banks
9 Total securities, held-to-maturity (amortized cost) and available-for-sale (fair value)
10
U.S. Treasury securities
11
U.S. government agency and corporation obligations (excludes mortgage-backed
securities)
12
Issued by U.S. government agencies
13
Issued by U.S. government-sponsored agencies
14
Securities issued by states and political subdivisions in the United States
15
Mortgage-backed securities (MBS)
16
Pass-through securities
17
Guaranteed by GNMA
18
Issued by FNMA and FHLMC
19
Other pass-through securities
20
Other mortgage-backed securities (includes CMOs, REMICs, and stripped MBS)
21
Issued or guaranteed by FNMA, FHLMC or GNMA
22
Collateralized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA
23
All other mortgage-backed securities
24 Asset-backed securities
25
Credit card receivables
26
Home equity lines
27
Automobile loans
28
Other consumer loans
29
Commercial and industrial loans
30
Other
31
Other debt securities
32
Other domestic debt securities
33
Foreign debt securities
34
Investments in mutual funds and other equity securities with readily determinable
fair value
Banks with foreign offices'
Banks with
domestic
offices only2
10,305,255
8,858,525
7,533,098
6,086,368
2,772,157
455,518
262,811
n. a.
n. a.
n. a.
n. a.
n. a.
n. a.
369,734
133,945
n.a.
n.a.
177,027
129,676
101,529
28,147
26,009
12,099
9,242
85,784
35,417
190,913
9,458
1,600,047
29,907
n. a.
n. a.
1,085,357
19,360
229,100
13,416
215,684
139,099
953,455
637,606
23,679
592,177
21,749
315,850
139,246
9,015
167,589
91,646
12,107
38,882
6,210
9,863
5,315
18,441
140,348
34,521
105,827
n. a.
n. a.
n. a.
69,110
7,684
61,426
62,542
733,613
532,561
13,607
499,128
19,826
201,052
75,194
7,841
118,016
76,420
7,850
32,518
5,804
9,501
4,409
16,338
113,133
20,760
92,373
514,691
10,547
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.
11,178
16,491
159,990
5,732
154,258
76,557
219,842
105,044
10,072
93,049
1,923
114,798
64,051
1,174
49,572
15,226
4,257
6,364
407
362
907
2,103
27,215
13,761
13,454
5,313
544,238
220,475
323,764
358,351
220,475
137,877
459,450
151,790
307,660
273,563
151,790
121,773
84,788
68,684
16,104
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
6,100,962
2,945
256,481
5,841,536
70,914
5,770,622
5,605,047
2,838
4,214,980
3,719,065
1,708
n.a.
n.a.
n.a.
n.a.
1,885,981
1,129
52,916
1,831,936
22,917
1,809,019
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
3,464,739
n.a.
n.a.
n.a.
n.a.
3,400,424
526,376
54 779
1,880,845
460,835
2,099,590
239,237
8,738
1,410,394
379,798
1,300,834
287,139
46,042
n.a.
n.a.
n.a.
n.a.
124,006
n.a.
n.a.
n.a.
55,085
1,211,823
n.a.
n.a.
1,226,233
193,778
106,706
831,717
96,504
880,213
150,384
57,603
383,618
77,537
346,020
43,394
49,104
448,099
18,967
203,112
5,827
16,899
12,682
702,505
685,585
16,921
864,830
326,626
53,536
484,669
743,946
274,755
42,230
426,961
693,721
272,181
49,099
372,440
572,837
220,311
37,794
314,733
39,060
215,516
3,110
212,407
n.a.
n.a.
125,901
39,055
142,647
377
28,294
196,723
3,093
193,630
35 Federal funds sold and securities purchased under agreements to resell
36
Federal funds sold in domestic offices
37
Securities purchased under agreements to resell
66
67
68
69
70
71
Closed-end loans secured by one- to four-family residential properties
Secured by first liens
Secured by junior liens
Multifamily (five or more) residential properties
Nonfarm n on residential properties
Loans to depository institutions and acceptances of other banks
Commercial banks in the United States
Other depository institutions in the United States
Banks in foreign countries
Loans to finance agricultural production and other loans to farmers
Commercial and industrial loans
U.S. addressees (domicile)
Non-U.S. addressees (domicile)
Loans to individuals for household, family, and other personal expenditures (includes
purchased paper)
Credit cards
Other revolving credit plans
Other consumer loans (including single-payment, installment, and all student loans)
Obligations (other than securities) of states and political subdivisions in the United States
(includes nonrated industrial development obligations)
All other loans
Loans to foreign governments and official institutions
Other loans
Loans for purchasing and carrying securities
All other loans (excludes consumer loans)
Lease-financing receivables
72
73
74
75
76
77
78
79
80
Trading assets
Premises and fixed assets (including capitalized leases)
Other real estate owned
Investments in un con soli dated subsidiaries and associated companies
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
723,843
99,730
6,670
17,696
n.a.
378,781
281,236
97,545
451,629
1,815
203,565
4,009,600
47,997
3,961,603
54,519
1,013,744
142,270
2,163,905
105,040
55,263
5,827
43,950
13,248
900,585
697,473
470,451
81,037
54,811
123,854
361
123,494
25,322
98,172
41,837
311,239
171,109
54,444
4,436
112,228
10,766
18,793
17
18,776
113,464
101,771
12,437
687,825
54,821
3,526
16,949
n.a.
327,698
244,867
82,831
362,571
n.a.
n.a.
n.a.
n.a.
36,349
n.a.
n.a.
n.a.
n.a.
36,018
44,909
3,145
747
n.a.
51,082
36,369
14,713
89,058
Special Tables
4.20
59
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities—Continued
Consolidated Report of Condition, June 30, 2007
Millions of dollars except as noted
Domestic
total
81 Total liabilities, minority interest, and equity capital
10,305,255
Banks with foreign offices'
Banks with
domestic
offices only2
7,533,098
82 Total liabilities
9,245,525
7,801,631
6,771,831
5,327,937
2,473,694
83 Total deposits
84
Individuals, partnerships, and corporations (include all certified and official checks) . . . .
85
U.S. government
86
States and political subdivisions in the United States
87
Commercial banks and other depository institutions in the United States
88
Banks in foreign countries
89 Foreign governments and official institutions (including
foreign central banks)
6,804,589
6,092,789
5,462,103
5,086,349
3,119
282,512
55,459
24,622
4,715,343
4,165,485
n.a.
n.a.
91.484
201,244
3,372,857
3,159,045
2,255
144,903
32,247
24,393
2,089,246
1,927,303
864
137,609
23,212
229
10,042
109,431
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
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) . . . .
114,697
201,473
n.a.
n.a.
n.a.
n.a.
Total demand deposits
Total n on transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks)
105 Federal funds purchased and securities sold under agreements to repurchase
106
Federal funds purchased in domestic offices
107
Securities sold under agreements to repurchase
108 Trading liabilities
109 Other borrowed money (includes mortgage indebtedness and obligations under capitalized
leases)
110 Subordinated notes and debentures to deposits
111 Net due to own foreign offices, Edge Act and agreement subsidiaries, and IBFs
112 All other liabilities
113 Minority interest in consolidated subsidiaries
114 Total equity capital
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
668,076
568,665
1,686
64,780
26,365
5,878
701
n.a.
n.a.
n.a.
10,014
27
365,043
306,708
1,256
29,762
20,819
5,805
692
303,033
261,957
430
35,018
5,546
73
9
491,924
302,482
189,443
4.794.027
4,517,683
1,433
217,732
29,094
18,744
9,340
3,007,815
2,852,337
998
115,141
11,427
18,588
9,323
1,786,212
1,665,346
435
102,592
17,666
156
18
747,433
250,971
496.462
293,548
627,333
250,971
376,362
n.a.
621.294
189,362
431,932
292,489
501,195
189,362
311,833
n.a.
126,138
61,609
64,530
1,059
939,382
160,756
n.a.
299,818
18.573
792.294
n.a.
n.a.
n.a.
n.a.
729,067
151,596
n.a.
262,041
17,172
581.979
n.a.
430.926
n.a.
n.a.
210,315
9,160
n.a.
37,777
1,401
n.a.
1,041,157
297,062
MEMO
115 Trading assets at large banks2
116
U.S. Treasury securities (domestic offices)
117
U.S. government agency obligations (excluding MBS)
118
Securities issued by states and political subdivisions in the United States
119
Mortgage-backed securities
120
Other debt securities
121
Other trading assets
122
Trading assets in foreign offices
123
Revaluation gains on interest rate, foreign exchange rate, and other
commodity and equity contracts
124 Total individual retirement (IRA) and Keogh plan accounts
125 Total brokered deposits
126
Fully insured brokered deposits
127
Issued in denominations of less than $100,000
128
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
129 Money market deposit accounts (MMDAs)
130 Other savings deposits (excluding MMDAs)
131 Total time deposits of less than $100,000
132 Total time deposits of $100,000 or more
133 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.
712,412
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
300.216
346,429
41,268
9,724
10,712
26,071
80,232
77,373
0
166,816
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
7,322
321,719
40,715
8,541
10,540
22,513
61,841
77,234
0
24,711
553
1,183
173
3,558
18,391
138
0
101,050
207,784
374,680
237,425
143,473
100,335
90,592
168,037
83,523
54,104
715
117,191
206,643
153,902
89,370
93,951
2,230,223
693,053
958,562
912,189
29,419
1,576,150
424,292
455,130
552,242
64,533
654,073
268,761
503,431
359,947
7,322
0,216
7,211
Foreign offices include branches in foreign countries, Puerto Rico, and U.S.-affiliated
insular areas; subsidiaries in foreign countries; all offices of Edge Act and agreement
corporations wherever located; and international banking facility (IBF).
2. Components of "Trading Assets at Large Banks" are reported only by banks that
reported trading assets of $2 million or more any quarter of the preceding calendar year.
60
Federal Reserve Bulletin Statistical Supplement • September 2007
4.46
SMALL LOANS TO BUSINESSES AND FARMS, 2000-2006
2000
Company
Total business loans
1 Number
2 Amount (thousands of dollars)
Percent to small firms'
3
Number
4
Amount
5,110,001
179,056,204
41.7
45.9
Total farm loans
5 Number
6 Amount (thousands of dollars)
Percent to small farms'
7
Number
8
Amount
2002
2001
204,318
11,634,880
6,094,606
224,914,485
2003
7,556,999
253,225,288
40.0
44.8
235,417
14,330,467
8,004,463
278,612,596
31.0
44.2
256,117
16,222,070
2004
37.8
45.8
288,739
17,297,590
2005
8,111,492
293,745,569
37.6
44.2
292,451
18,141,412
2006
7,951,110
271,615,447
47.4
45.3
218,891
12,698,385
12,603,453
305,586,939
36.8
43.8
208,554
12,541,030
90.2
83.8
90.0
83.6
88.5
83.0
88.8
83.0
84.4
77.6
82.6
77.5
79.9
76.6
83.7
75.6
84.0
75.0
88.0
76.9
90.5
77.1
78.4
74.1
73.2
65.1
58.3
64.5
30.6
37.5
32.3
38.2
32.2
38.1
33.3
38.5
36.0
39.0
25.0
27.1
26.5
27.8
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
0.1
0.3
2.6
97.0
0.0
0.2
1.3
98.5
2
Activity ofCRA reporters (percent)
All small loans to businesses
Number
Amount
All small loans to farms2
11
Number
12
Amount
9
10
13
14
15
16
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
Distribution of business 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 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
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
0.1
0.4
9.3
90.2
100
0.4
0.9
20.7
78.0
100
0.4
1.0
23.5
75.1
100
3.2
16.4
47.3
33.0
0.2
100
4.3
17.5
44.2
33.5
0.4
100
0.0
0.3
6.7
93.0
100
0.0
0.4
16.5
83.0
100
0.1
0.3
18.9
80.7
100
3.1
15.7
45.0
36.0
0.2
100
4.2
17.2
43.6
34.7
0.3
100
100
100
100
100
100
100
1,471
470
1,443
469
1,495
491
1,635
468
1,658
341
891
212
837
191
1,941
1,912
1,986
2,103
1,999
1,103
1,028
MEMO
45
46
47
Number of reporters
Commercial banks
Savings institutions
Total
1. Businesses and farms with revenues of $1 million or less.
2. Percentages reflect the ratio of activity by CRA reporters to activity by all lenders.
Calculations based on information reported in the June Call Reports except that calculations
for savings associations are based on information reported in the June Thrift Financial
Reports.
3. Low income: census tract median family income less than 50 percent of MSA/MD
median family income or nonmetropolitan portion of state median family income; moderate
income: 50-79 percent; middle income: 80-120 percent; upper income: 120 percent or more.
Excludes loans where census tract was not reported.
SOURCE: FFIEC
Loans to Businesses and Farms
4.47
61
ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESSES AND FARMS, 2006
By Size of Loan
MEMO
Size of loan (dollars)
Loans to firms
All oans
Type of borrower and loan
100,000 or less
Total
Percent
Total
of$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
12,083,783
21,943
96.1
76.3
245,389
3,144
2.0
10.9
245,526
3,668
2.0
12.8
12,574,698
28,755
100
100
4,634,059
2,703
36.9
9.4
3
12,105,726
96.1
248,533
2.0
249,194
2.0
12,603,453
100
4,636,762
36.8
5 Purchases
173,409
225
83.3
72.8
24,224
47
11.6
15.2
10,612
37
5.1
12.0
208,245
309
100
100
166,480
192
79.9
62.1
6
173,634
83.3
24,271
11.6
10,649
5.1
208,554
100
166,672
79.9
12,257,192
22 168
95.9
76 3
269,613
3 191
2.1
11 0
256,138
3 705
2.0
127
12,782,943
29 064
100
100
4,800,539
2 895
37.6
10 0
12,279,360
95.8
272,804
2.1
259,843
2.0
12,812,007
100
4,803,434
37.5
Total
Farm
Total
All
7 Originations
9
Total
Amount of loans (thousands of do lars)
Business
10 Originations
11 Purchases
127,234,159
884,985
42.1
26.6
43,280,556
533,227
14.3
16.0
131,747,429
1,906,583
43.6
57.3
302,262,144
3,324,795
100
100
133,535,462
340,179
44.2
10.2
12
128,119,144
41.9
43,813,783
14.3
133,654,012
43.7
305,586,939
100
133,875,641
43.8
14 Purchases
4,482,676
9,219
35.8
29.4
4,118,666
8,287
32.9
26.5
3,908,374
13,808
31.2
44.1
12,509,716
31,314
100
100
9,595,533
16,829
76.7
53.7
15
4,491,895
35.8
4,126,953
32.9
3,922,182
31.3
12,541,030
100
9,612,362
76.6
17 Purchases
131,716,835
894,204
41.8
26.6
47,399,222
541,514
15.1
16.1
135,655,803
1,920,391
43.1
57.2
314,771,860
3,356,109
100
100
143,130,995
357,008
45.5
10.6
18
132,611,039
41.7
47,940,736
15.1
137,576,194
43.2
318,127,969
100
143,488,003
45.1
Total
Farm
Total
All
Total
SOURCE: EFIEC
62
4.48
Federal Reserve Bulletin Statistical Supplement • September 2007
ORIGINATIONS AND PURCHASES OF SMALL LOANS TO BUSINESSES AND FARMS, 2006
By Type of Borrower and Loan, Distributed by Size of Lending Institution
Institutions, by asset s ze (millions of dollars)
Type of borrower and loan
Less than 100
Total
Percent
250 to 999
100 to 249
Total
Percent
Total
1,000 c r more
Percent
Total
Percent
Total
Percent
Number of loans
Business
1 Originations
2 Purchases
591
8
0.0
0.0
19,337
49
0.2
0.2
163,411
551
1.3
1.9
12,391,359
28,147
98.5
97.9
12,574,698
28,755
100
100
3
599
0.0
19,386
0.2
163,962
1.3
12,419,506
98.5
12,603,453
100
Farm
4 Originations
5 Purchases
82
0
0.0
0.0
875
0
0.4
0.0
34,238
194
16.4
62.8
173,050
115
83.1
37.2
208,245
309
100
100
6
82
0.0
875
0.4
34,432
16.5
173,165
83.0
208,554
100
673
8
0.0
00
20,212
49
0.2
0.2
197,649
745
1.5
2.6
12,564,409
28 262
98.3
97.2
12,782,943
29 064
100
100
681
0.0
20,261
0.2
198,394
1.5
12,592,671
98.3
12,812,007
100
Total
Total
All
7 Originations
9
Total
Amount of loans (thousands of do lars)
Business
10 Originations
95,454
4 488
0.0
01
936,551
23 200
0.3
0.7
20,193,940
144 866
6.7
4.4
281,036,199
3 152 241
93.0
94.8
302,262,144
3 324 795
100
100
99,942
0.0
959,751
0.3
20,338,806
6.7
284,188,440
93.0
305,586,939
100
Farm
13 Originations
14 Purchases
6,685
0
0.1
0.0
38,028
0
0.3
0.0
2,354,085
16,723
18.8
53.4
10,110,918
14,591
80.8
46.6
12,509,716
31,314
100
100
15
12
Total
6,685
0.1
38,028
0.3
2,370,808
18.9
10,125,509
80.7
12,541,030
100
All
16 Originations
17 Purchases
102,139
4,488
0.0
0.1
974,579
23,200
0.3
0.7
22,548,025
161,589
7.2
4.8
291,147,117
3,166,832
92.5
94.4
314,771,860
3,356,109
100
100
18
106,627
0.0
997,779
0.3
22,709,614
7.1
294,313,949
92.5
318,127,969
100
Total
Total
MEMO
19 Number of institutions reporting
20 Number of institutions extending loans . .
SOURCE: EFIEC
10
9
36
34
415
406
567
518
1,028
967
Community Reinvestment
4.49
COMMUNITY DEVELOPMENT LENDING, 2006
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
9
94
2,236
29,671
32,010
0.0
0.3
7.0
92.7
100.0
3,033
191,398
1,752,461
54,513,508
56,460,400
0.0
0.3
3.1
96.6
100.0
10
36
415
567
1,028
1.0
3.5
40.4
55.2
100.0
2,852
8.9
3,943,388
7.0
Number
extending
Percent
extending
3
23
264
471
761
0.4
3.0
34.7
61.9
100.0
14
1.8
MEMO
6 Lending by all affiliates
SOURCE: FFIEC
64
Index to Statistical Tables
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 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, 60-2
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)
Federal Reserve Banks
Condition statement, 10
Discount rates (See Interest rates)
U.S. government securities held, 5, 10, 11, 25
Federal Reserve credit, 5, 6, 10, 12
Federal Reserve notes, 10
Federally sponsored credit agencies, 28
Finance companies
Assets and liabilities, 30
Business credit, 31
Loans, 34
Paper, 22, 23
Float, 5
Flow of funds, 35-9
Foreign 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, 45-7, 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 the 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, 60-2
Commercial banks, 15-21, 58-59
Community development, 63
Farms, 60-2
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Insured or guaranteed by United States, 32, 33
EURO, 56
FARM mortgage loans, 33, 60-2
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
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, 44
Retail credit, 34
SAVING
Flow of funds, 33, 34, 35-9
Saving deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-9
Securities (See also specific types)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21, 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
66
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$20.00
$20.00
Monday
H.15. Selected Interest Rates3
$20.00
$20.00
Monday
$ 5.00
$ 5.00
First of month
Previous month
G.15. Research Library—
Recent Acquisitions
G.17. Industrial Production and
Capacity Utilization3
No charge
n.a.
First of month
Previous month
$15.00
n.a.
Midmonth
Previous month
2.12,2.13
G.19. Consumer Credit3
$ 5.00
$ 5.00
$ 5.00
n.a.
Second month
previous
Second month
previous
1.55, 1.56
G.20. Finance Companies3
Fifth working day
of month
End of month
H.2.
Week ending
previous
Saturday
Week ending
previous
Wednesday
Week ending
previous
Wednesday
Week ending
Monday of
previous week
Week ending
previous
Wednesday
Week ending
previous
Friday
Week ending
previous
Friday
1.20
1.11, 1.18
1.21
1.26A-F
3.28
1.35
Monthly Releases
G.5.
Foreign Exchange Rates3
3.28
1.51, 1.52
69
Annual
mail
rate
Release number and title
Annual
fax
rate
Approximate
release
days 1
Period or date to
which data refer
Corresponding
Bulletin or
Statistical
Supplement
table numbers 2
Quarterly Releases
E.2.
Survey of Terms of Business
Lending 3
E. 11. Geographical Distribution of
sets and Liabilities of
Major Foreign Branches of
U.S. Banks
E. 16. Country Exposure Lending
Survey 3
Z. 1.
Flow of Funds Accounts
of the United States:
Flows and Outstandings3
As-
5.00
Midmonth of
March, June,
September, and
December
February, May,
August, and
November
$ 5.00
15th of March,
June,
September, and
December
Previous quarter
January, April,
July, and
October
Previous quarter
Second week of
March, June,
September, and
December
Previous quarter
5.00
$25.00
1. Please note that for some releases, there is normally a certain variability in the release date because of reporting or processing procedures.
Moreover, for all series unusual circumstances may, from time to time,
result in a release date being later than anticipated.
2. Beginning with the Winter 2004 issue (vol. 90, no. 1) of the Bulletin,
the corresponding table for the statistical release no longer appears in the
4.23
1.57, 1.58,
1.59, 1.60
Bulletin. Statistical tables are now published in the Statistical Supplement
to the Federal Reserve Bulletin; the table numbers, however, remain the
same.
3. These releases are also available on the Board's website,
www.federalreserve.gov/releases.
n.a. Not available.
70
Federal Reserve Bulletin Statistical Supplement • September 2007
Publications of Interest
FEDERAL RESERVE REGULATORY SERVICE
To promote public understanding of its regulatory functions, the Board publishes the Federal Reserve Regulatory Service, a four-volume loose-leaf service containing all Board regulations as well as related statutes,
interpretations, policy statements, rulings, and staff
opinions. For those with a more specialized interest in
the Board's regulations, parts of this service are published separately as handbooks pertaining to monetary
policy, securities credit, consumer affairs, and the payment system.
These publications are designed to help those who
must frequently refer to the Board's regulatory materials. They are updated monthly, and each contains citation indexes and a subject index.
The Monetary Policy and Reserve Requirements
Handbook contains Regulations A, D, and Q, plus
related materials.
The Securities Credit Transactions Handbook contains Regulations T, U, and X, which deal with extensions of credit for the purchase of securities, and related
statutes, Board interpretations, rulings, and staff opinions. Also included is the Board's list of foreign margin
stocks.
The Consumer and Community Affairs Handbook
contains Regulations B, C, E, G, M, P, Z, AA, BB, and
DD, and associated materials.
The Payment System Handbook deals with expedited
funds availability, check collection, wire transfers, and
risk-reduction policy. It includes Regulations CC, J, and
EE, related statutes and commentaries, and policy
statements on risk reduction in the payment system.
For domestic subscribers, the annual rate is $200 for
the Federal Reserve Regulatory Service and $75 for
each handbook. For subscribers outside the United
States, the price, which includes additional airmail costs,
is $250 for the service and $90 for each handbook.
The Federal Reserve Regulatory Service is also available on CD-ROM for use on personal computers. For a
standalone PC, the annual subscription fee is $300. For
network subscriptions, the annual fee is $300 for 1 concurrent user, $750 for a maximum of 10 concurrent
users, $2,000 for a maximum of 50 concurrent users,
and $3,000 for a maximum of 100 concurrent users.
Subscribers outside the United States should add $50
to cover additional airmail costs. For further information, call (202) 452-3244.
All subscription requests must be accompanied by a
check or money order payable to the Board of Governors of the Federal Reserve System. Orders should be
addressed to Publications Fulfillment, Mail Stop 127,
Board of Governors of the Federal Reserve System,
Washington, DC 20551.
GUIDE TO THE FLOW OF FUNDS ACCOUNTS
A new edition of Guide to the Flow of Funds Accounts
is now available from the Board of Governors. The new
edition incorporates changes to the accounts since the
initial edition was published in 1993. Like the earlier
publication, it explains the principles underlying the
flow of funds accounts and describes how the accounts
are constructed. It lists each flow series in the Board's
flow of funds publication, "Flow of Funds Accounts of
the United States" (the Z.I quarterly statistical release),
and describes how the series is derived from source
data. The Guide also explains the relationship between
the flow of funds accounts and the national income and
product accounts and discusses the analytical uses of
flow of funds data. The publication can be purchased,
for $20.00, from Publications Fulfillment, Mail Stop
127, Board of Governors of the Federal Reserve System, Washington, DC 20551.
71
Federal Reserve Statistical Releases
Available on the Commerce Department's
Economic Bulletin Board
The Board of Governors of the Federal Reserve System makes some of its statistical releases available to
the public through the U.S. Department of Commerce's economic bulletin board. Computer access
to the releases can be obtained by subscription.
For further information regarding a subscription to
the economic bulletin board, please call (202) 4821986. The releases transmitted to the economic bulletin board, on a regular basis, are the following:
Reference
Number
Statistical release
Frequency of release
H.3
Aggregate Reserves
Weekly/Thursday
H.4.1
Factors Affecting Reserve Balances
Weekly/Thursday
H.6
Money Stock
Weekly/Thursday
H.8
Assets and Liabilities of Insured Domestically Chartered
and Foreign Related Banking Institutions
Weekly/Monday
H.10
Foreign Exchange Rates
Weekly/Monday
H.15
Selected Interest Rates
Weekly/Monday
G.5
Foreign Exchange Rates
Monthly/end of month
G.17
Industrial Production and Capacity Utilization
Monthly/midmonth
G.19
Consumer Installment Credit
Monthly/fifth business day
Z.I
Flow of Funds
Quarterly
@FedFRASER