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FEDERAL RESERVE statistical release C.2 May 18, 1998 Aggregate Summaries of Annual Surveys of Securities Credit Extension, as of June 30, 1997 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) Credit Regulation T Lenders 2 Regulation G Lenders Total TOTAL 92,745 12,355 105,100 Margin accounts3 92,745 95 92,840 12,260 12,260 Plan lenders and ESOP4 SECURITIES CREDIT BY SOURCE (Millions of dollars) Outstanding on June 30 Brokers Others Total 1 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 1997 92,745 12,355 105,100 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 NYSE. Prior to 1997, data also included Am ex firms. 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 1997 ASSETS 1. Debit blllances 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 1d 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) ............... . MEMORANDUM 12. Number of margin accounts in:3 a. Debit status ....................................................... . b. Credit status ...................................................... . c. Total (Sum of items 12a through 12b above) ............................ . Dollar Amounts millions -- thousands 92 745 9,708 1,158 2,045 105 658 339 573 478 248 567 666 1,491,147 359 241 743 859 202 883 751 256 092 51,806 42477 11,839 60,006 166130 171506 089 757 447 710 003 959 12 663 13 625 39 675 65 964 665,297 422,248 1,491147 223 354 485 062 948 120 092 Actual Count 1179,320 3,032,870 4 212,190 1. Includes NYSE member firms only. One firm was excluded from the report, because their total assets were not equal to total liabilities and capital. 2. Conceptually equivalent to margin credit at broker-dealers, as reported monthly in the Federal Reserve Bulletin table, "Stock Market, Selected Statistics." 3. Three firms were excluded from the memorandum item 12, because they cannot provide numbers for Debit status and Credit status.
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