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FEDERAL RESERVE statistical release C.2 May 16, 1997 Aggregate Summaries of Annual Surveys of Securities Credit Extension, as of June 30, 1996 Data collected by the Federal Reserve Board in annual surveys of margin account credit extensions by lenders subject to the provisions of Regulations T and G (covering brokers and other nonbank lenders, respectively) are summarized in the attached release. SECURITIES CREDIT REPORTED BY LENDERS SUBJECT TO MARGIN REGULATION1 (Millions of dollars) Regulation T Lenders NYSE members Other brokers2 and dealers Total Regulation G Lenders TOTAL 75,466 0.03 75,466 7,479 82,945 Margin accounts3 75,466 0.03 75,466 859 76,325 6,620 6,620 Credit Plan lenders and ESOP4 Total SECURITIES CREDIT BY SOURCE (Millions of dollars) Outstanding on June 30 Brokers 1979 Others Total 1 11,921 170 12,091 1980 11,619 173 11,792 1981 15,269 260 15,529 1982 11,870 277 12,147 1983 18,742 208 18,950 1984 22,506 276 22,782 1985 23,605 507 24,112 1986 30,649 366 31,015 1987 37,502 580 38,082 1988 29,754 1,474 31,228 1989 32,485 3,534 36,019 1990 30,054 6,838 36,892 1991 34,536 7,675 42,211 1992 37,309 8,239 45,548 1993 44,757 8,003 52,760 1994 55,264 8,243 63,507 1995 55,341 7,562 62,903 1996 75,466 7,479 82,945 1. Collection of comparable annual data for bank lending under Regulation U ceased after June 1977. 2. Includes data for firms that are members of the AMEX but not the NYSE. 3. Includes credit extended on stock, non-convertible bonds, and convertible bonds under a consolidated method of reporting under Regulation T. 4. Includes credit extended to finance purchases through qualified stock option and employee stock purchase and ownership plans. REPORT OF BROKERS CARRYING MARGIN ACCOUNTS 1 As oflast business day of June 1996 ASSETS 1. Debit balances due from public customers in: a. Margin accounts 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b. Cash accounts .................................................... . c. Nonsecurities accounts .............................................. . d. Other accounts .................................................... . e. Total (Sum of items 1a through ld above) .............................. . 2. Debit balances in firm investment and trading accounts ...................... . 3. Amount to be received for securities held under repurchase agreements ......... . 4. All other assets ...................................................... . 5. Total Assets (Sum of items 1 through 4 above) ............................. . LIABILITIES AND CAPITAL 6. Credit balances due to public customers in: a. Margin accounts ................................................... b. Cash accounts .................................................... c. Nonsecurities accounts .............................................. d. Other accounts .................................................... e. Total (Sum of items 6a through 6d above) .............................. 7. Credit balances in firm investment and trading accounts 8. Balances due on loans from: a. U.S. banks ....................... : ............................... b. Foreign banks ..................................................... c. Other lenders ..................................................... d. Total (Sum of items 8a through 8c above) .............................. 9. Amount to be repaid for securities sold under repurchase agreements ........... 10. All other liabilities and capital .......................................... 11. Total Liabilities and Capital (Sum of items 6 through 10 above) Dollar Amounts millions thousands 75 466 6 332 928 567 83 295 204 545 336 425 287 447 911714 220 811 363 838 232 807 816 981 836 . . . . . 30 543 32497 10 727 35 340 109108 109.830 492 101 522 404 519 769 . . . . . . 6.430 4.233 24.047 34.711 432.572 225 492 911714 225 304 768 297 035 216 836 MEMORANDUM 12. Number of margin accounts in:3 a. Debit status ....................................................... . b. Credit status ...................................................... . c. Total (Sum of items 12a through 12b abo\ e) ............................ . Actual Count 1 217,385 2 429,048 3 646,433 1. Includes NYSE member firms and Amex member firms. See Federal Reserve Annual Statistical Digest for comparable data from previous years. 2. Conceptually equivalent to margin credit at broker-dealers, as reported monthly in the Federal Reserve Bulletin table, "Stock Market, Selected Statistics." 3. One firm was excluded from the memorandum item 12, because it cannot provide numbers for Debit status and Credit status.