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... C.2 Aggregate Summaries of Annual Surveys of Security Credit Extension, as of June 30, 1982 Data collected by the Federal Reserve Board in annual surveys of margin account credit extensions by lenders subject to the provisions of Regulation T and G (covering brokers and other nonbank lenders, respectively) are summarized in the attached release. This information will also be avail- able in the Annual Statistical Digest to be published later this year. April 7, 1983 - - --------------------------------------------------------------------------------- SECURITY CREDIT REPORTED BY LENDERS SUBJECT TO ~ARGIN REGULATION, JUNE 30, 1982!/ (In millions of dollars) NYSE members Security credit, subject to marg~n requirements: Margin stock .......• Convertible bonds ... Subscription ~ssues. "Plan lenders" 3/ ... Total ............ Regulation T Other brokersz/ and dealers - Total 11 '593 242 17 18 0 0 11,611 242 17 11 '852 18 11 '870 Regulation G 17 5 Total 11 '786 242 17 102 12,147 102 277 . ~.:. eli· HARGIN CREDIT BY SOURCE (In mi 11 ions of dollars) Outstanding on June 30 Brokers Banks Others 1973 ............... 6,432 3 '139 256 9,827 1974 ............... 5,267 3,287 225 8, 779 1975 ............... 5,608 3,419 206 9,233 1976 ............... 7,360 3,814 183 11,357 1977 ............... 9,726 3,517 136 13,379 1978 ............... 11,479 1/ 197 11 ,676.!/ 1979 ............... 11,921 1/ 170 12 0911/ 1980 ............... 11,619 1/ 173 11 7921/ 1981 ............... 15,269 1/ 260 15 5291/ 1982 ..•.•.......••• 11 ,870 1/ 277 12 14711 1. 2. 3. Total ' ' ' ' - - - Comparable annual data for bank lending under Regulation U ceased to be collected after June 1977. Includes data for firms that are members of the American Stock Exchange but not of the New York Stock Exchange. Credit extended to finance purchases through qualified stock option and employee stock purchase plans. C.2 DETAILED DEBIT AND CREDIT BALANCES AT BROKERS CARRYING ACCOUNTS, AS OF JL~E 30, 1982l/ ~UffiGIN Total of DEBITS LEDGER 8ALANCE8 (Ia • • • Dolla,.-Calll:a j s2 ~1:1 7 .R97 28R 2,200 580 3,535 462 --------------- t. Caala • la8Dd -.1 aa ...,.. - - - - - - - - - - - - - - - - -.. 2. leew-IUoa borrowed - - - - - - - - - - - - - - - - 1. •cvltlea aold. cleU•e17 ~ (Palled to •U•er) - - - ...... ............ - •· 118T deltlt ttolaftcea ... fr- -..bar ,.,... of netl_.l aecwttlea" eac 1. Debit baloncaa duo froiD aU otlliar eaclv.aha of oachoa.ca e~uto•ora, &I.Uoct oachance . . ..,.,. In tlah ~~~· (Total) In C.) 8tocll •arcia acc.,...ta _ (b) Convertible bond ••rein accounts (c) lubacripUon account a (d) Caah account a (0) • _ _lj__________ - _-lJ.___________ _ - ..· · - - - - - - - - - - - - - - - - Other····-························--·-.--··-··················-·············-·----- ,_b 242 16 2,267 2,002 -- 535 492 604 998 947 - 16,140 393 683 879 640 301 So or aU lad azchan1e members Jn thJa 7. Debit beleneaa in fi,_ iaveatJDaftt 5d So -~~ ---------------------- tradJ.OC 8CCOUDta (b) In tina tradJ.q IUd undarwriUftC accounta ···----···--··- 1. 9. 1.0. J :) : 896 5 • ·.q Js: ahould •qual 5 lg 799 232 2,475 613 781 198 092 151 870 138 323 130 ----------·-····------- 26,523 -----------·--·-·-----······-·· R29 806 816 299 n .. - - - - - - - - (a) Ia fjna in•aetaent aecoullta - · · - - - - · · - - - - - - - - - Wl'i I Sum of thoae Se 6. NET debit balances in individual lnvestmetl\ land t;lldtnc accounts of ••chana• . . . .bars 578 I Sb O.ittad) 574 4L,5bU c--odity ..ralna on depoalt with banks, -ad c-odity panely fuada on depoalt ---·-----·--·-·-·· Ali other dabtt Hlaftcea ·············--·······-····--·--·-············-----------------··-··-··-·-·---·· TOTAL. OF ITEMS 1-9 (Equal a Item 21) .•·-----········--·--------------··----·--····---·· 1104 23 773 '• I CREDITS . 11. M••r ltorrowad-Total (EXCLUDING aubordlaatod borrowlq: 004"0P0rl•d in A By eowca- 8 l ·~ IX 11111 7fi 934 579 134 395 I 182 817 1 lA« 493 331 (b) FroiD b-.ka •d trvat eonapafttoa elaowheto ln tho U.S ••••.•..•. (d) .., ----·------------.ltlS z 7861 3 842 ·:_. 563 VrotD U.S. •&ondaa of foroip benka ---------···---·-:-· From other lenders (NOT lncludlaa atamben of national 6,202 aoeurltiaa esc'-aea) - - - - - - - - - - - - - - - - - - - · - · · · - (o) f'roaa baoka aad truet coiDpanJoa In Now York City ...,.. ........... . (c:) tt. . t•) l lAo aum of l lAb tt•••• ahould equal ll By colletHal (a) Secured by cuat ...era' collateral (1) Entirely by obllaoUona of U.S. Go•a,...ent or ita and U .I. 3ovem. .nt aacwitlee -----····-·-··-·-· (J) By aon-eaaapl aecwltlea or 8laed collateral - - - - · · (b) 176 aaenclea --·----··---·-··-----······-···-·· (2) &aUnty by bond• otiMr dlaa convatllbla boDcla llBal 152 36 767 1-,-n-:":-::;-+--;;-';-:;--j---:;;-7-T-i 11Ba2 1,897 817 044 118•3 1-::..<..;;.:...:....+--=-::..:..--j---'"-'-'-i Sum Secured by collatorel of the UI'ID or or eachua•• membon (I) Rntirely by oblJcatlon.s or U.l. GovernmOftt or Ita qancJoa -··---------------·-·-···-···~·(2) &AUrely by boftd.a other than coavt~rtfble bonds aad U.l. Go.,• .,.._, aecurltlea ·-·---··-··--·--··-··-· (3) By DOD-e•e•pt aecudUea w -'••d ~ollateral - - - - · (c) of thoae should or allled oach•a• •embers in the fl1111 equ•l J I 7,662 131 630 1-----+-----j-----j IIBbl 1,14 7 176 766 liBbl 3,087 452 564 t lllbl Unaoc-urM bon-owinc othrr th8ft a•OI'dlllated to &efteral ~redJ.tora - - - · · - - · - - - - - - - · - - - - - - - 1, 779 539 220 liSe I J:L,__l_J_'J ~:32_ 4 353 032 615 28£ 801 255 ll 642 918 IS 2 178 10 -b·--···-···-····-·-·········-···-···-······· RfiR ,.. 4 '4 1,036 1 363 1 831 478 273 596 on !Sb Sum of thesf'" !Sc should 101 198 !Sd 780 802 289 19. Md loss 21. TOTAL 22. (Memorand\Uft) Amount to be repaid for securities .old .andor repurchaao acr•a. .nt•-···· .. ·····--· .. ···--··-................ "II 068 176 account• AND ceneral partners' drawlnc account•··-·-···-················--···-··············-··················-················1--,-6;..;..'_1_8_4+---+---1 482 432 20 balances .........................................................................................................................................-....... r.4'-'1>.J-8"'-"0~9'+-':.><"~+.:t..<.=..-i 773 130 OP ITI!MS 11·20 (Equola !tom 10).·······················································-········-··········-··-········--····-·········-···~;1~1,.;0~4..,;;'2;,3;,5-.---·--- U· All other credit ~/ 14 NtT balance In caphat ac-counts (oxc1u•ivo of aubordhwtod J.ndobtodnosa •• lncludod In ttom 16) AND profit 20. ll 360 283 12 " -1. 4 5 2 4821 458 Includes member firms of either NYSE or AMEX. See Federal Reserve Annual Statistical Digest for comparable data from previous year. Conceptually equivalent to credit extended by brokers, as reported monthly in the Federal Reserve's Bulletin tables on Stock Market Customer Financing. 893 lu .
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