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Volume 4 • Number 4 • April 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 April 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 • April 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
5 7 GUIDE TO SPECIAL
TABLES
5 8 INDEX TO STATISTICAL
TABLES
60 FEDERAL RESERVE BOARD
PUBLICATIONS
62 ANTICIPATED SCHEDULE OF RELEASE DATES
PERIODIC STATISTICAL
RELEASES
6 4 PUBLICATIONS
FOR
OF INTEREST
65 FEDERAL RESERVE STATISTICAL
AVAILABLE ON THE COMMERCE
ECONOMIC BULLETIN
BOARD
RELEASES
DEPARTMENT'S
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 • April 2007
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Ql
Q2
Q3
-13.4
-11.1
-12.7
5.1
9.6
7.6
8.6
4.1
-15.0
-13.8
-16.4
.7
1.3
5.4
.5
3.3
-3.5
Q4
Sept.
Oct.
2
1
2
3
4
Reserves of depository institutions
Total
Required
Nonborrowed
Monetary base3
Concepts of money*
5 Ml
6 M2
4.2
-2.7
-6.5
-.8
.8
-.5
-.4
2.5
-.1
6.8
-6.6
4.0
4.6
8.7
11.7
11.5
13.7
4.6
2.5
-.6
1.6
3.9
-50.0
-43.6
-50.8
1.4
1.1'
-4.2'
7.6
10.3
7.r
5.1
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
8
9
Money market mutual funds
12 Retail7
13 Institution-only
7.7
8.4
.8
17.4
.0
18.6
-6.4
20.0
23.2
8.6
13.1
15.8
17.3
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
.7
6.8
19.5'
13.5
-58.3
-9.4
-5.4
10.7
-9.6
4.2
17.3
18.1
21.3
17.3
15.2
19.9
26.9
22.4
-3.6
3.9
15.4P
24.5
-22.3
8.3
-7.2
26.2
17.4
20.9
14.6
21.3
33.1 P
13.3'
8.8
6.3
7.5
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 INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
Jan. 10
Jan. 17
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. Treasuiy2
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 . .
844,790
778,888
778,888
277,019
467,826
30,392
3,651
0
26,315
236
215
0
21
-429
39,780
11,041
2,200
38,233
845,210
776,930
776,930
277,019
465,798
30,105
4,008
0
28,929
192
107
0
85
897
38,263
11,041
2,200
38,191
852,192
778,951
778,951
277,019
467,864
30,105
3,964
0
33,036
149
64
0
85
875
39,180
11,041
2,200
38,198
859,448
778,916
778,916
277,019
467,864
30,105
3,928
0
40,857
233
180
0
54
-210
39,651
11,041
2,200
38,206
844,559
778,902
778,902
277,019
467,864
30,105
3,915
0
26,571
39
22
0
16
-262
39,309
11,041
2,200
38,218
846,043
778,891
778,891
277,019
467,864
30,243
3,765
0
27,500
284
265
0
19
-195
39,564
11,041
2,200
38,230
837,088
778,880
778,880
277,019
467,864
30,587
3,410
0
18,607
319
298
0
21
-545
39,827
11,041
2,200
38,242
844,202
778,868
778,868
277,019
467,694
30,757
3,398
0
25,500
210
189
0
38,545
11,041
2,200
38,155
845,968
776,636
776,636
277,019
465,499
30,105
4,013
0
29,629
175
95
0
81
968
38,559
11,041
2,200
38,190
801,980
31,547
31,547
0
177
810,816
29,313
29,313
0
203
807,391
30,233
30,233
0
235
808,651
29,541
29,541
0
204
816,824
30,509
30,509
0
230
819,803
29,545
29,545
0
253
812,449
29,659
29,659
0
261
807,874
30,486
30,486
0
242
803,306
29,410
29,410
0
220
800,808
31,706
31,706
0
210
12,140
4,906
93
6,851
6,847
5
290
35,656
8,532
12,575
5,223
92
6,921
6,917
4
339
36,509
7,983
12,277
4,974
95
6,879
6,873
6
329
36,830
9,298
13,429
6,066
95
7,023
7,016
7
245
36,426
8,391
12,435
5,240
92
6,837
6,837
0
266
36,824
6,809
12,733
5,027
94
6,857
6,842
14
755
36,312
12,248
12,068
4,797
90
6,936
6,917
19
245
36,466
5,115
12,001
4,686
90
6,915
6,915
0
310
36,703
10,209
12,366
5,112
109
6,837
6,837
0
308
37,024
6,244
12,268
5,055
90
6,836
6,836
0
287
37,417
13,288
838,636
770,774
770,774
277,019
459,586
29,990
4,179
0
29,167
150
39
0
-944
40,568
11,041
2,200
38,254
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
End-of-month figures
Wednesday figures
Jan. 10
Jan. 17
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 .
847,431
772,604
772,604
277,019
461,368
30,105
4,112
0
37,750
102
5
0
97
-467
37,442
11,041
2,200
38,177
859,332
778,915
778,915
277,019
467,864
30,105
3,927
0
40,750
67
3
0
63
-333
39,934
11,041
2,200
38,206
851,094
778,863
778,863
277,019
466,675
31,776
3,393
0
32,000
1,326
1,309
0
18
-1,486
40,391
11,041
2,200
38,254
850,163
777,638
777,638
277,019
466,522
30,105
3,993
0
33,500
90
5
0
85
347
38,587
11,041
2,200
38,191
855,173
778,938
778,938
277,019
467,864
30,105
3,951
0
36,000
488
407
0
81
404
39,343
11,041
2,200
38,198
859,693
778,910
778,910
277,019
467,864
30,105
3,922
0
39,750
1,262
1,239
0
23
626
39,146
11,041
2,200
38,206
839,582
778,898
778,898
277,019
467,864
30,105
3,911
0
21,500
21
2
0
19
-240
39,402
11,041
2,200
38,218
842,731
778,887
778,887
277,019
467,864
30,587
3,417
0
19,750
1,756
1,735
0
21
2,950
39,389
11,041
2,200
38,230
837,192
778,875
778,875
277,019
467,864
30,587
3,406
0
19,000
26
5
0
21
-1,098
40,389
11,041
2,200
38,242
851,094
778,863
778,863
277,019
466,675
31,776
3,393
0
32,000
1,326
1,309
0
18
-1,486
40,391
11,041
2,200
38,254
806,375
31,049
31,049
0
164
820,176
29,615
29,615
0
252
802,599
32,379
32,379
0
175
813,056
29,903
29,903
0
227
819,884
32,126
32,126
0
252
818,497
29,742
29,742
0
263
810,057
28,921
28,921
0
245
806,763
31,055
31,055
0
221
802,884
29,419
29,419
0
216
802,599
32,379
32,379
0
175
11,573
4,373
90
6,832
6,832
0
278
36,163
13,526
12,620
4,708
98
6,857
6,842
14
958
36,231
11,885
13,264
6,053
90
6,836
6,836
0
285
36,727
17,445
12,806
5,436
89
7,023
7,016
7
258
36,394
9,210
11,657
4,470
92
6,837
6,837
0
258
36,717
5,977
13,342
6,156
90
6,857
6,843
14
239
36,065
13,230
12,256
4,999
91
6,936
6,917
19
230
36,346
3,216
12,845
5,533
90
6,915
6,915
0
307
36,475
6,842
12,642
5,412
90
6,837
6,837
0
303
37,103
6,411
13,264
6,053
90
6,836
6,836
0
285
36,727
17,445
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
NOTE: Some of the data in this table appears in the Board's H.4.1 (503) weekly statistical
release, available at www.federalreserve.gov/releases.
1. Amounts of vault cash held as reserves are shown in table 1.12, line 2.
2. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury
securities.
3. Face value of the securities.
4. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
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
1.12
Federal Reserve Bulletin Statistical Supplement • April 2007
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averages of biweekly averages
Reserve classification
1 Reserve balances with Reserve Banks2
2 Total vault cash3
3
Applied vault cash4
4
Surplus vault cash5
5 Total reserves'"
6
Required reserves
7
Excess reserve balances at Reserve Banks7
X Total borrowing at Reserve Banks
9
Primary
10
Secondary
11
Seasonal
2007
2006
2004
2005
2006
Dec.
Dec.
Dec.
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
12.046
47,264
34.X01
12,462
46.X4X
44.93X
1,909
63
11
0
52
10.04X
51,315
35,346
15,969
45,394
43,490
1,903
169
97
0
72
X.479
50,905
34,795
16,110
43,274
41,461
1,813
191
111
0
XO
9,5X9
49.62X
35,252
14,376
44.X41
43,294
1,547
350
39
0
312
X.7X0
50,247
33.XX4
16,363
42,664
41,131
1,533
369
26
0
343
9.101
49,409
33,493
15,915
42,594
40.X32
1,762
403
66
0
33X
X.254
50,102
33,4X6
16,616
41,740
40,061
1,6X0
229
24
0
205
X.457
4X.969
33.763
15,206
42,221
40,517
1,703
160
4X
0
112
X.479
50,905
34 795
16,110
43,274
41,461
1,813
191
X.794
52,170
35.X43
16,327
44.63X
43,123
1,515
211
1X7
0
24
0
XO
B weekly averages of daily figures for two-week periods ending on dates indicated
2007
2006
2
1 Reserve balances with Reserve Banks
2 Total vault cash3
3
Applied vault cash4
4
Surplus vault cash5
5 Total reserves'"
6
Required reserves
7
Excess reserve balances at Reserve Banks7
X Total borrowing at Reserve Banks
9
Primary
10
Secondary
11
Seasonal
Sept. 27
Oct. 11
Oct. 25
Nov. X
Nov. 22
Dec. 6
Dec. 20
Jan. 3
Jan. 17
Jan. 31
10,036
49,526
35.XX3
13,643
45,919
44,517
1,402
370
21
0
349
X.302
51.745
33,012
1X.733
41,314
39,179
2,135
295
23
0
273
8,136
49.517
33.X94
15.623
42,030
40,665
1,365
202
22
0
1X1
X.444
4X.455
33,403
15,052
41 ,X47
40,269
1,577
171
7.X45
49.5X3
33,590
15,993
41,435
39,914
1,521
161
52
0
109
9,543
4X.410
34,427
13,9X3
43,970
41,822
2,147
147
56
0
92
7,190
50,332
32,926
17,406
40,116
3X.679
1,437
210
127
0
X3
9,540
52,996
37,376
15,621
46,915
44.X07
2,1 OX
191
122
0
70
7,666
50,330
32,2X6
1X.044
39,952
3X.326
1,625
162
144
0
IX
9,763
53.X35
39,073
14,762
4X.X36
47,559
1,277
265
244
0
22
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.
0
13X
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
4/20/07
Effective date
Previous rate
On
4/20/07
Effective date
Previous rate
On
4/20/07
Effective date
Previous rate
6.25
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.00
6.75
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.50
5.30
3/29/07
5.25
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
i
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
i
6.25
'
6.00
6.75
1
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
i
1
1
6.50
5.30
3/29/07
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.
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
6.25
6.25
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
2006—Mar. 28
30
May 10
11
June 29
July 6
In effect April 20, 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 • April 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
July
Sept.
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
95,728
95,728
70,972
70,972
0
0
90,885
90,885
0
0
0
72,636
72,636
0
65,400
65,400
0
0
85,342
85,342
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
0
6,667
-7,997
0
6,614
-10,078
3,931
415
0
20,379
-13,535
0
0
0
6,861
0
0
1,757
0
7,427
-16,498
3,749
220
0
14,046
-15,441
335
0
0
0
0
17,249
0
-84,844
110,819
11,309
0
-91,121
97,723
26,354
0
0
0
2,650
0
-3,167
7,997
549
0
-3,784
7,254
1,454
0
-13,673
10,421
1,320
0
-6,861
0
1,395
0
-5,246
15,086
3,151
0
-11,009
13,147
4,979
0
0
0
5,763
0
-8,012
7,554
3,626
0
-7,041
7,375
4,322
0
0
0
-3,500
0
0
0
-2,830
1,588
0
0
-5,149
1,557
548
0
0
0
33
0
-2,181
1,412
411
0
2,073
2,294
445
0
0
0
1,364
0
-10,524
0
2,007
0
-11,395
3,000
3,299
0
0
0
0
0
0
1,235
0
0
-1,557
1,557
0
0
0
0
0
0
780
0
-5,110
0
1,072
0
0
50,507
0
0
28,136
0
2,795
44,690
0
10,552
2,198
0
3,931
1,869
0
0
2,096
0
0
3,185
0
3,749
4,562
0
335
6,496
0
50,507
25,341
1,876,900
1,887,650
2,097,050
2,083,300
2,125,500
2,131,500
182,000
181,500
177,000
178,000
178,000
178,000
128,000
136,750
178,000
169,750
194,500
186,500
176,500
173,500
5,621,153
5,626,285
6,421,223
6,420,945
6,779,023
6,778,132
567,926
572,488
584,190
584,959
642,084
640,413
554,480
557,372
649,172
651,821
665,558
662,802
586,711
585,277
-5,110
-4,061
-1,769
1,671
-11,643
5,601
10,756
4,434
29,029
-331
-3,502
3,540
-9,547
5,037
14,983
10,930
2,096
69,275
69,275
6,496
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
Federal Reserve Bulletin Statistical Supplement • April 2007
1.18 FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
Consolidated condition statement
ASSETS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Gold certificate account
Special drawing rights certificate account . . . .
Coin
Securities, repurchase agreements, and loans .
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3 . .
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans
Items in process of collection
Bank premises
Other assets
Denominated in foreign currencies'"
All other7
19 Total assets .. .
11,037
2,200
797
819,921
778,910
778,910
277,019
467,864
30,105
3,922
0
39,750
1,262
5,472
1,945
37,152
20,422
16,730
11,037
2,200
865
800,419
778,898
778,898
277,019
467,864
30,105
3,911
0
21,500
21
4,804
1,944
37,419
20,219
17,201
11,037
2,200
908
800,393
778,887
778,887
277,019
467,864
30,587
3,417
0
19,750
1,756
9,332
1,944
37,406
20,167
17,239
11,037
2,200
984
797,901
778,875
778,875
277,019
467,864
30,587
3,406
0
19,000
26
3,118
1,949
38,396
20,176
18,220
11,037
2,200
1,069
812,189
778,863
778,863
277,019
466,675
31,776
3 393
0
32,000
1,326
2,729
1,962
38,373
20,201
18,173
11,037
2,200
804
810,456
772,604
772,604
277,019
461,368
30,105
4,112
0
37,750
102
2,769
1,916
35,493
20,743
14,750
878,524
858,689
863,219
855,585
869,559
781,347
29,742
26,529
20,044
6,156
90
239
4,840
5,461
772,946
28,921
15,426
10,107
4,999
91
769,658
31,055
19,642
13,713
5,533
90
307
6,388
5,502
765,838
29,419
19,013
13,208
5,412
90
303
4,211
5,551
832,246
11,037
2,200
11,037
2,200
801
819,731
778,915
778,915
277,019
467,864
1,069
812,189
778,863
778,863
277,019
466,675
30,105
31,776
3,927
0
40,750
67
3,486
1,953
37,931
20,482
17,449
3 393
0
32,000
864,675
877,140
869,559
765,586
32,379
30,657
24,228
6,053
90
285
4,211
5,568
769,161
31,049
25,122
20,381
4,373
90
278
3,180
6,182
783,019
29,615
24,463
18,699
4,708
98
958
3,813
5,581
765,586
32,379
30,657
24,228
6,053
90
285
824,033
838,400
834,695
846,490
838,400
15,332
15,066
575
15,332
15,092
1,128
15,358
15,127
674
15,305
10,554
4,122
15,325
15,325
0
15,358
30,973
31,552
1,773,496
1,166,296
607,199
2,223
1,784,974
1,169,406
615,568
952
1,326
2,729
1,962
38,373
20,201
18,173
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
5,050
5,518
847,920
4,211
5,568
CAPITAL ACCOUNTS
30 Capital paid in
31 Surplus
32 Other capital accounts
15,328
15,029
248
33 Total capital
30,604
15,331
15,031
466
15,127
674
30,650
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
1,768,586
1,167,132
601,455
8,225
1,772,235
1,169,039
603,196
2,952
1,791,200
1,176,156
615,043
3,513
1,706,328
1,144,649
561,679
7,787
1,761,240
1,160,811
600,429
6,855
1,791,200
1,176,156
615,043
3,513
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
958,508
958,897
959,451
959,676
960,128
948,439
958,680
960,128
177,161
781,347
781,347
11,037
2,200
768,111
0
185,951
772,946
772,946
189,793
769,658
769,658
193,838
765,838
765,838
194,542
765,586
765,586
179,277
769,161
769,161
175,661
194,542
765,586
765,586
11,037
2,200
11,037
2,200
756,421
0
11,037
2,200
752,601
0
11,037
2,200
11,037
2,200
11,037
2,200
11,037
2,200
759,709
0
752,349
0
755,925
0
769,782
0
752,349
0
818,660
800,398
798,637
797,875
810,863
810,354
819,665
810,863
29,787
29,963
31,103
29,462
32,428
31,094
29,676
32,428
788,873
770,435
767,533
768,413
778,435
779,260
789,988
778,435
783,019
783,019
MEMO
46 Total U.S. Treasury and agency securities''
47
Less: face value of securities under reverse repurchase
agreements12
48
U.S. Treasury and agency securities
eligible to be pledged
1. Some of the data in this table also appear in the Board's H.4.1 (503) weekly statistical
release, which is available at www.federalreserve.gov/releases.
2. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury
securities.
3. Face value of the securities.
4. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
5. Cash value of agreements, which are fully collateralized by U.S. Treasury and federal
agency securities.
6. Valued daily at market exchange rates.
7. Includes special investment account at the Federal Reserve Bank of Chicago in Treasury
bills maturing within ninety days.
8. Cash value of agreements, which are fully collateralized by U.S. Treasury securities.
9. Includes exchange-translation account reflecting the daily revaluation at market
exchange rates of foreign exchange commitments.
10. Includes U.S. Treasury STRIPS and other zero coupon bonds at face value.
11. Includes face value of U.S. Treasury and agency securities held outright, compensation
to adjust for the effect of inflation on the original face value of inflation-indexed securities,
and cash value of repurchase agreements.
12. Face value of agreements, which are fully collateralized by U.S. Treasury securities.
Federal Reserve Banks
1.19
FEDERAL RESERVE BANKS
11
Maturity Distribution of Loans and Securities
Millions of dollars
Wednesday
Type of holding and maturity
Jan. 24
Jan. 31
1,326
1,326
1 Total loans
1,262
2 Within 15 days
3 16 days to 90 days
4 91 days to 1 year
1,247
15
0
12
9
0
1,756
0
26
0
1,325
1
0
83
19
62
5
1,325
1
0
778,910
778,898
778,887
778,875
778,863
772,604
778,915
778,863
51,356
170,177
184,284
224,972
67,644
80,477
51,875
170,185
183,756
224,968
67,642
80,473
56,939
163,558
185,391
222,745
67,537
82,717
58,154
162,832
184,901
222,742
69,783
80,464
56,075
169,534
179,349
222,478
69,780
81,647
35,217
170,593
200,816
219,258
67,240
79,480
40,588
180,893
185,132
224,177
67,645
80,479
56,075
169,534
179,349
222,478
69,780
81,647
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
39,750
21,500
19,750
19,000
32,000
37,750
40,750
32,000
20 Within 15 days
39,750
0
21,500
0
19,750
0
19,000
0
32,000
0
37,750
0
40,750
0
32,000
0
31,055
29,419
31,055
0
29,419
0
32,379
0
31,049
0
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"
29,742
29,742
28,921
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.
29,615
29,615
0
32,379
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • April 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.
July
Aug.
Sept.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
42.70
42.65
41.66
720.52
46.63
46.56
44.72
759.67
45.30
45.13
43.40
788.14
43.29
43.10
41.48
812.37'
45.38
45.13
43.59
804.58
44.18
43.83
42.63
804.07
42.88
42.51
41.34
804.69
42.88
42.48
41.12
805.20
42.78
42.55
41.10
806.64
43.20
43.04
41.50
809.75
43.29
43.10
41.48
812.37'
41.48
41.27
39.97
813.30
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
42.45
42.41
41.41
725.21
46.52
46.46
44.61
764.66
45.15
44.98
43.25
793.38
43.27
43.08
41.46
818.34'
45.07
44.82
43.28
804.88
44.88
44.53
43.33
804.60
42.70
42.33
41.16
802.65
42.63
42.22
40.87
803.09
41.77
41.54
40.09
802.29
42.25
42.09
40.54
808.52
43.27
43.08
41.46
818.34'
44.61
44.40
43.10
816.81
42.95
42.90
41.91
737.62
1.04
.05
46.85
46.79
44.94
774.77
1.91
.06
45.39
45.23
43.49
802.30
1.90
.17
43.27
43.08
41.46
825.29'
1.81
.19
45.04
44.78
43.25
812.20
1.79
.25
44.84
44.49
43.29
811.73
1.55
.35
42.66
42.30
41.13
809.72
1.53
.37
42.59
42.19
40.83
809.98
1.76
.40
41.74
41.51
40.06
809.24
1.68
42.22
42.06
40.52
815.39
1.70
.16
43.27
43.08
41.46
825.29'
1.81
.19
44.64
44.43
43.12
823.71
1.52
.21
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.
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,305.5
6.062.0
8,872.3
1,375.3
6,411.7
9,433.0
1,373.2
6,669.4
10,154.0
1,365.6
7,021.0
n .a.
1,369.1
6,936.3'
n.a.
1,370.4'
6,977.1'
n .a.
1,365.6
7,021.0
n.a.
1,371.4
7,081.1
n.a.
662.7
7.7
325.4
309.7
697.9
7.6
342.5
327.4
724.5
7.2
324.1
317.5
749.8'
6.7
305.9
303.1
744.5
6.8
311.9
306.0
747.5
6.8
312.6
303.6
749.8'
6.7
305.9
303.1
750.4
6.7
307.0
307.3
4,756.5
2,792.7
5,036.4
3,011.1
5,296.2
3,478.5
5,655.4
n .a.
5,567.1
n.a.
5,606.6
n .a.
5,655.4
n.a.
5,709.7
n.a.
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,337.5
536.7
764.5
2,630.7
545.7
909.3
2,769.6
634.9
1,122.9
2,895.5
765.4
n .a.
2,847.0
744.9
n.a.
2,863.2
757.0'
n .a.
2,895.5
765.4
n.a.
2,916.8
769.4
n.a.
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
831.4
273.5
120.7
887.0
271.9
161.5
849.3
339.8
230.7
792.3
399.0
n .a.
802.3
394.1
n.a.
798.7
397.6
n .a.
792.3
399.0
n.a.
803.7
401.5
n.a.
777.4
1,123.5
701.0
1,072.7
702.7
1,139.4
803.2
1,334.0
778.9
1,288.4
790.1
1,304.7
803.2
1,334.0
818.2
1,330.0
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
6,091.8
8,927.8
1,401.5
6,443.4
9,482.2
1,396.5
6,703.3
10,201.4
1,387.5
7,061.9
1,360.1
6,919.2'
1,367.8
6,984.4
n.a.
1,387.5
7,061.9
n.a.
1,368.6
7,064.2
666.7
7.6
342.6
315.0
702.4
7.5
358.7
332.8
728.9
7.2
337.7
322.8
754.7'
6.7
317.6
308.4'
740.7
6.7
311.7
301.0
746.2
6.7
314.5
300.4
754.7'
6.7
317.6
308.4'
748.6
6.7
303.3
310.1
Nontransaction components
27 In M27
28 In M3 onlys
4,759.9
2,815.9
5,042.0
3,025.4
5,306.7
3,488.3
5,674.4
5,559.0
5,616.6
n.a.
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
2,337.9
536.3
760.9
2,633.3
545.2
903.3
2,776.0
634.2
1,114.4
2,908.2
764.9
2,839.0
747.6
2,869.2
758.7
n.a.
2,908.2
764.9
n.a.
2,901.9
768.6
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
831.5
273.4
120.1
887.9
271.6
160.4
851.2
339.5
228.9
795.8
398.7'
800.1
395.5
800.4
398.5
n.a.
795.8
398.7'
799.6
401.1
780.8
1,150.1
704.1
1,095.8
705.7
1,162.6
806.7
1,362.4
776.8
1,281.5
789.8
1,304.9
806.7
1,362.4
824.4
1,364.2
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.
5,695.6
14
Federal Reserve Bulletin Statistical Supplement • April 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
Mar.
Sept.'
Oct.'
2007
2007
2006
2006
Nov.'
Dec'
Jan.'
Feb.'
Mar.
Mar. 7
Mar. 14
Mar. 21
Mar. 28
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
7,717.3'
2,118.5
1,185.9
932.6
5,598.8'
1,073.7'
2,999.7'
450.6'
2,549.1'
722.7
269.5
533.2
300.5
314.0
747.5'
8,060.2
2,191.4
1,210.6
980.8
5,868.9
1,164.9
3,153.2
450.9
2,702.4
727.9
277.0
545.8
313.5
295.4
797.9
8,195.0
2,207.9
1,211.8
996.1
5,987.2
1,176.8
3,299.2
466.9
2,832.3
724.6
279.3
507.3
325.9
300.2
820.6
8,238.3
2,220.7
1,208.9
1,011.8
6,017.6
1,182.2
3,308.7
468.4
2,840.3
729.7
287.8
509.1
340.7
297.5
812.1
8,290.6
2,222.9
1,195.7
1,027.2
6,067.7
1,191.4
3,332.0
471.4
2,860.6
736.7
292.2
515.4
359.3
301.1
831.4
8,319.7
2,214.7
1,198.2
1,016.5
6,105.1
1,195.0
3,351.9
473.0
2,878.9
744.1
295.6
518.5
366.9
302.5
841.0
8,388.4
2,232.2
1,201.5
1,030.7
6,156.1
1,202.9
3,377.9
470.6
2,907.3
743.8
308.3
523.4
362.1
304.4
851.2
8,365.7
2,260.3
1,209.1
1,051.2
6,105.4
1,210.6
3,316.4
462.0
2,854.4
740.8
312.6
524.9
365.4
294.5
850.2
8,431.9
2,264.6
1,218.6
1,046.0
6,167.3
1,208.9
3,372.9
471.1
2,901.8
738.9
323.5
523.2
365.4
295.8
850.8
8,323.9
2,257.2
1,218.7
1,038.6
6,066.7
1,206.0
3,289.2
458.7
2,830.6
739.5
305.7
526.2
367.9
301.6
848.0
8,336.3
2,246.4
1,200.4
1,046.0
6,089.9
1,214.8
3,303.8
459.8
2,844.0
741.2
302.6
527.5
349.5
284.1
844.2
8,349.6
2,256.0
1,199.7
1,056.3
6,093.6
1,209.9
3,308.3
460.2
2,848.1
742.0
316.0
517.4
379.6
297.5
854.0
9,012.1'
9,399.3
9,572.6
9,619.3
9,711.5
9,760.0
9,836.3
9,806.6
9,874.8
9,772.3
9,744.9
9,811.6
5,896.5
677.7
5,218.8
1,522.4
3,696.4
1,789.8'
374.2'
1,415.5'
40.5
501.8
6,104.7
636.0
5,468.7
1,694.7
3,774.0
1,853.8
367.2
1,486.5
57.5
552.4
6,204.4
635.8
5,568.6
1,712.9
3,855.7
1,910.9
389.1
1,521.8
24.2
558.7
6,244.8
646.8
5,598.0
1,724.9
3,873.1
1,946.0
395.1
1,551.0
6.5
560.0
6,307.5
630.8
5,676.8
1,725.3
3,951.5
1,958.9
403.3
1,555.6
31.7
565.3
6,343.6
645.5
5,698.1
1,729.1
3,969.0
1,958.1
417.8
1,540.3
19.5
571.0
6,343.5
633.6
5,710.0
1,747.1
3,962.9
1,972.4
418.1
1,554.3
19.8
578.2
6,402.9
640.0
5,762.9
1,778.0
3,984.9
1,984.4
419.2
1,565.2
-59.5
588.0
6,381.0
641.4
5,739.6
1,773.3
3,966.3
2,023.5
413.8
1,609.7
-37.8
586.3
6,373.2
637.8
5,735.4
1,759.0
3,976.4
1,993.0
431.4
1,561.6
-71.7
588.8
6,387.8
642.6
5,745.2
1,774.0
3,971.2
1,945.2
415.0
1,530.2
-42.1
584.8
6,442.1
638.9
5,803.2
1,791.1
4,012.0
1,977.3
421.4
1,555.9
-68.9
585.2
8,228.6'
8,568.4
8,698.3
8,757.4
8,863.4
8,892.2
8,913.9
8,915.8
8,953.0
8,883.3
8,875.6
8,935.7
783.6'
830.9
874.3
861.9
848.1
867.7
922.4
890.8
921.9
889.0
869.3
876.0
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.
7,683.7'
2,108.4
1,180.0
928.4
5,575.3'
1,077.4'
2,983.4'
447.2
2,536.2'
717.2
297.0
420.2
268.8
528.5
303.3
303.3
742.6'
8,057.3
2,185.1
1,200.9
984.2
5,872.2
1,159.1
3,160.3
452.7
2,707.5
729.6
312.7
417.0
274.2
549.0
310.1
296.4
800.1
8,195.2
2,197.5
1,199.6
997.9
5,997.7
1,171.1
3,309.7
468.0
2,841.7
726.5
308.6
417.9
284.7
505.7
328.0
302.9
820.9
8,272.5
2,225.4
1,211.6
1,013.8
6,047.2
1,178.4
3,330.3
468.5
2,861.8
733.2
313.1
420.1
294.8
510.5
348.3
305.3
812.1
8,335.0
2,227.0
1,195.5
1,031.5
6,107.9
1,189.8
3,345.4
470.2
2,875.3
747.9
331.5
416.4
303.6
521.2
365.6
317.0
828.9
8,343.9
2,219.8
1,198.1
1,021.7
6,124.1
1,194.3
3,354.9
470.8
2,884.2
756.4
332.8
423.7
298.6
519.8
366.1
313.7
837.2
8,398.8
2,240.1
1,210.0
1,030.1
6,158.7
1,207.0
3,374.2
470.9
2,903.3
748.6
320.9
427.7
309.0
519.9
359.9
302.8
845.2
8,346.1
2,261.8
1,215.3
1,046.5
6,084.3
1,214.9
3,299.3
458.5
2,840.8
735.0
308.4
426.6
312.8
522.2
368.5
284.5
844.6
8,427.6
2,272.3
1,227.8
1,044.5
6,155.3
1,212.8
3,363.9
469.4
2,894.5
735.4
309.2
426.2
322.7
520.6
367.4
287.3
846.3
8,311.4
2,261.5
1,225.1
1,036.4
6,049.9
1,210.5
3,276.3
455.7
2,820.6
733.5
307.4
426.1
306.6
523.0
373.4
295.8
847.5
8,311.7
2,246.3
1,206.2
1,040.1
6,065.4
1,219.4
3,282.2
455.7
2,826.6
736.1
309.1
427.0
303.7
523.9
353.7
270.8
835.8
8,317.1
2,252.7
1,204.5
1,048.2
6,064.4
1,213.9
3,284.7
455.5
2,829.2
735.0
308.1
427.0
316.1
514.7
375.9
285.8
843.9
8,965.6'
9,396.0
9,578.2
9,669.0
9,775.6
9,790.8
9,836.8
9,774.4
9,859.1
9,758.8
9,702.7
9,753.6
5,891.6
674.0
5,217.6
1,521.4
3,696.1
1,782.3'
373.2'
1,409.2'
32.3
493.0
6,094.2
630.8
5,463.4
1,685.7
3,777.7
1,863.7
368.6
1,495.2
61.1
556.1
6,190.1
630.9
5,559.3
1,698.9
3,860.4
1,910.0
389.6
1,520.5
30.6
564.0
6,257.5
653.0
5,604.5
1,713.0
3,891.6
1,940.9
395.9
1,545.0
17.9
569.9
6,329.2
665.3
5,663.8
1,718.2
3,945.6
1,947.0
400.9
1,546.1
40.4
572.7
6,331.7
653.6
5,678.1
1,733.6
3,944.5
1,956.2
417.1
1,539.1
27.5
578.4
6,347.6
624.9
5,722.6
1,751.2
3,971.5
1,970.2
416.9
1,553.4
27.1
585.8
6,397.8
635.9
5,761.9
1,777.4
3,984.5
1,975.8
418.2
1,557.6
-68.9
577.7
6,408.5
593.6
5,814.8
1,772.5
4,042.3
2,011.3
412.3
1,599.1
-42.1
579.8
6,381.4
622.1
5,759.3
1,760.0
3,999.3
1,987.5
429.7
1,557.9
-78.6
581.3
6,353.0
643.5
5,709.5
1,769.8
3,939.7
1,950.3
414.1
1,536.2
-58.2
569.4
6,397.9
690.9
5,707.0
1,790.6
3,916.5
1,961.0
420.0
1,541.0
-73.5
579.6
8,199.1'
8,575.1
8,694.8
8,786.1
8,889.3
8,893.8
8,930.8
8,882.4
8,957.5
8,871.6
8,814.4
8,865.0
766.5'
820.8
883.5
882.8
886.3
897.0
906.0
892.0
901.6
887.3
888.2
888.6
16
Federal Reserve Bulletin Statistical Supplement • April 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
Mar.
Sept.'
Oct.'
2007
2007
2006
2006
Nov.'
Dec'
Jan.'
Feb.'
Mar.
Mar. 7
Mar. 14
Mar. 21
Mar. 28
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
6.887.8'
1,773.2
1,107.6
665.6
5.114.6'
898.4'
2.978.4'
450.6'
2.527.8'
722.7
113.4
401.7
252.9
261.7
710.5'
7.149.8
1,820.7
1,126.1
694.6
5.329.0
955.1
3.129.7
450.9
2.678.8
727.9
111.2
405.1
256.4
247.1
754.9
7,279.4
1,840.1
1.130.6
709.5
5,439.2
962.2
3.275.2
466.9
2.808.3
724.6
112.2
365.1
263.9
252.7
781.3
7.322.6
1,848.2
1,126.0
722.1
5.474.5
967.0
3.285.2
468.4
2.816.7
729.7
120.8
371.8
275.0
245.9
777.1
7,359.7
1,848.4
1,111.2
737.2
5.511.3
975.4
3.307.7
471.4
2.836.2
736.7
118.4
373.2
295.1
250.2
795.8
7.380.7
1,837.6
1,116.1
721.5
5.543.1
978.3
3.326.9
473.0
2.853.9
744.1
119.1
374.7
299.6
251.9
806.7
7.422.0
1,847.2
1,115.4
731.8
5.574.8
984.6
3,353.3
470.6
2.882.8
743.8
119.0
374.1
295.6
253.5
812.7
7.397.3
1,869.0
1,123.0
746.1
5.528.3
992.1
3.290.7
462.0
2.828.6
740.8
126.3
378.4
303.1
245.5
812.4
7.453.8
1,873.8
1,130.2
743.5
5.580.1
989.2
3.347.9
471.1
2.876.9
738.9
129.5
374.5
298.1
246.3
815.7
7,359.7
1,862.8
1.128.5
734.3
5.497.0
988.3
3.264.0
458.7
2.805.3
739.5
125.8
379.4
303.0
251.8
812.4
7,373.9
1,857.5
1,116.4
741.1
5.516.4
995.4
3.278.2
459.8
2.818.4
741.2
119.5
382.1
290.5
236.3
807.5
7.388.7
1,867.1
1,117.0
750.1
5.521.6
993.5
3.281.7
460.2
2.821.6
742.0
132.0
372.4
318.9
247.4
813.5
8,046.3r
8,340.9
8,508.7
8,551.9
8,630.5
8,669.2
8,714.7
8,689.6
8,745.3
8,658.3
8,639.5
8,699.9
5.247.8
664.3
4.583.5
884.6
3.698.9
1,355.5
315.7
1,039.8
260.0
402.3
5.363.3
625.3
4.738.0
972.8
3.765.3
1,407.1
313.1
1,094.0
309.5
431.5
5.452.9
625.5
4.827.4
974.9
3.852.6
1,442.3
333.2
1,109.1
292.5
443.4
5.480.7
635.8
4,844.9
973.5
3.871.3
1,456.8
334.4
1,122.4
304.0
446.9
5.546.2
620.0
4.926.1
976.4
3.949.8
1,455.0
343.6
1,111.4
323.7
450.2
5.572.4
635.0
4,937.4
969.9
3.967.4
1,449.1
355.8
1,093.3
323.7
454.2
5.555.5
623.4
4.932.1
970.9
3.961.3
1,455.4
355.5
1,099.9
320.6
458.4
5.581.9
629.5
4.952.4
969.1
3.983.3
1,450.2
350.1
1,100.1
297.0
470.4
5.575.6
630.9
4.944.7
980.0
3.964.7
1,476.6
345.2
1,131.4
297.6
474.2
5.568.4
627.8
4.940.6
965.8
3.974.8
1,444.9
354.9
1,090.0
286.0
469.5
5.568.2
632.3
4.935.9
966.3
3.969.6
1,423.0
354.0
1,069.0
306.6
465.9
5.604.5
628.4
4.976.1
965.7
4.010.5
1,457.2
349.7
1,107.6
306.5
464.6
7,265.5
7,511.4
7,631.0
7,688.4
7,775.1
7,799.4
7,789.9
7,799.6
7,824.0
7,768.8
7,763.6
7,832.9
780.8'
829.5
877.6
863.6
855.5
869.8
924.8
890.0
921.3
889.5
875.9
867.0
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)5
Footnotes appear on p. 21.
6,851.3'
1,763.1
1,101.6
661.4
5.088.2'
900.6'
2.962.2'
447.2
2.515.0'
1,214.4'
1,300.6'
717.2
297.0
420.2
110.9
397.4'
255.7
252.8
705.7'
7,151.6
1,814.5
1.116.4
698.1
5.337.2
950.8
3.136.8
452.7
2.684.0
1,293.7
1,390.3
729.6
312.7
417.0
111.5
408.6
252.9
247.2
757.7
7,282.8
1,829.8
1,118.4
711.4
5.453.0
959.4
3.285.7
468.0
2.817.7
1,402.4
1,415.3
726.5
308.6
417.9
114.9
366.5
266.0
254.5
782.5
7,355.6
1,852.8
1,128.8
724.1
5.502.8
965.4
3.306.7
468.5
2.838.2
1,411.9
1.426.3
733.2
313.1
420.1
122.9
374.5
282.6
253.1
777.7
7,396.0
1,852.6
1,111.0
741.6
5.543.4
973.0
3.321.0
470.2
2.850.9
1,419.3
1,431.6
747.9
331.5
416.4
123.0
378.4
301.4
264.9
792.5
7,396.5
1,842.7
1,116.0
726.7
5.553.8
975.5
3.330.0
470.8
2.859.2
1,420.7
1,438.5
756.4
332.8
423.7
117.5
374.3
298.8
262.3
801.7
7,427.0
1,855.1
1.123.8
731.2
5.572.0
985.9
3.349.6
470.9
2.878.7
1,425.9
1,452.9
748.6
320.9
427.7
118.0
369.9
293.4
252.6
805.9
7,374.4
1,870.5
1,129.1
741.4
5.503.9
994.6
3,273.6
458.5
2.815.0
1,355.4
1,459.6
735.0
308.4
426.6
126.4
374.3
306.2
237.1
807.1
7,448.0
1,881.5
1.139.4
742.1
5.566.5
991.2
3.339.0
469.4
2.869.5
1,413.8
1,455.8
735.4
309.2
426.2
130.2
370.7
300.0
239.5
810.3
7,343.1
1,867.0
1,134.9
732.1
5.476.1
990.7
3.251.0
455.7
2.795.4
1,336.2
1,459.2
733.5
307.4
426.1
125.9
374.8
308.6
247.1
811.0
7,345.1
1,857.4
1.122.2
735.1
5.487.7
998.2
3.256.6
455.7
2.801.0
1,339.3
1,461.6
736.1
309.1
427.0
119.5
377.3
294.6
224.9
800.4
7,353.1
1,863.9
1.121.8
742.1
5.489.3
996.0
3.258.1
455.5
2.802.6
1,340.8
1,461.8
735.0
308.1
427.0
131.9
368.2
315.2
237.4
803.6
7,998.6r
8,342.1
8,517.5
8,600.3
8,684.4
8,689.8
8,709.6
8,655.9
8,728.9
8,641.1
8,596.1
8,640.7
5.239.8
660.3
4.579.5
880.9
3.698.6
1,348.1
314.6
1,033.5
253.6
394.5
5.361.2
620.0
4.741.2
972.1
3.769.1
1,417.0
314.4
1,102.6
311.7
434.2
5.453.9
620.6
4,833.2
975.9
3.857.3
1,441.5
333.6
1,107.8
295.1
446.5
5.505.9
642.1
4.863.8
974.0
3.889.8
1,451.7
335.2
1,116.5
309.5
453.2
5.573.8
654.2
4.919.6
975.8
3.943.9
1,443.1
341.1
1,101.9
328.6
455.4
5.557.7
642.9
4.914.8
971.8
3.943.0
1,447.2
355.1
1,092.1
329.6
460.4
5.558.2
614.4
4.943.8
973.9
3.969.9
1,453.3
354.2
1,099.1
328.1
466.2
5.573.1
625.3
4.947.8
964.9
3.982.9
1,441.6
349.1
1,092.5
290.0
461.5
5.605.8
583.2
5.022.6
981.9
4.040.7
1,464.4
343.7
1,120.7
292.1
467.1
5.572.2
612.0
4.960.2
962.5
3.997.7
1,439.5
353.2
1,086.3
281.1
463.2
5.530.8
633.2
4.897.6
959.5
3.938.1
1,428.1
353.1
1,075.0
296.9
454.1
5.551.1
679.8
4.871.2
956.4
3.914.9
1,441.0
348.3
1,092.7
302.7
459.5
7,236.0
7,524.1
7,636.9
7,720.3
7,801.0
7,794.9
7,805.8
7,766.1
7,829.4
7,756.0
7,710.0
7,754.3
762.7'
818.0
880.6
879.9
883.4
894.9
903.9
889.8
899.4
885.1
886.1
886.4
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
Mar.
Sept.
Oct.
2007
2007
2006
2006
Nov.
Dec.
Jan.
Feb.
Mar.
Mar. 7
Mar. 14
Mar. 21
Mar. 28
Seasonall 1 adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Trading account
5
Investment account
6
Mortgage-backed
7
Other
8
Other securities
9
Trading account
10
Investment account
11
State and local government . .
12
Other
13 Loans and leases in bank credit3 . . . .
14
Commercial and industrial
15
Real estate
16
Revolving home equity
17
Other
18
Other residential
19
Commercial
20
Consumer
21
Security4
22
Federal funds sold to and
repurchase agreements
with broker-dealers
23
Other
24
State and local government
25
Agricultural
26
Federal funds sold to and
repurchase agreements with
others
27
All other loans
28
Lease-financing receivables
29 Interbank loans
30
Federal funds sold to and
repurchase agreements with
commercial banks
31
Other
32 Cash assets5
33 Other assets6
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
45 Total liabilities
46 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,860.7'
1,083.8
634.3
38.5
595.8
515.4
80.4
449.5
209.7
239.8
42.2
197.5
2,776.9'
534.6'
1,469.1'
324.3
1,144.9'
701.8
443.1'
374.0
102.7
3,985.5'
1,121.4'
650.1
44.3
605.8
532.4
73.4
471.3'
221.6'
249.7
42.6
207.0
2,864.1'
557.0'
1,538.8
329.3'
1,209.5
739.5
470.0
373.7
100.1
4,104.0'
1,130.3'
654.0
51.5
602.5
529.8'
72.8'
476.3'
222.1'
254.2
45.2
209.0
2,973.8'
564.4'
1,677.0
346.9'
1,330.1
847.3
482.7'
377.4
101.2'
4,138.8'
1,140.9
651.7
53.3
598.4
526.4'
71.9'
489.3
233.1
256.2
47.4
208.8
2,997.9'
566.6'
1,682.2
346.8
1,335.4
847.3
488.1
383.1
109.2'
4,150.6'
1,150.5
648.3
49.1
599.3
529.5'
69.7'
502.2
245.7
256.5
49.5
207.0
3,000.0'
571.5'
1,683.3
349.5'
1,333.8'
845.1'
488.7
381.7
106.8'
4,143.5'
1,137.6
651.6
54.8
596.8
525.4'
71.4'
486.0
228.7
257.3
49.6
207.7
3,005.8'
572.4'
1,688.6'
351.8'
1,336.8
845.7
491.1
383.2
107.6
4,170.0'
1,148.5
654.2
51.7
602.5
533.5'
69.0'
494.3
231.4
262.9
51.0
211.9
3,021.4'
576.4'
1,695.7'
349.6'
1,346.1
844.5'
501.5
388.3
107.7
4,209.6
1,174.2
670.0
63.0
607.0
538.4
68.6
504.2
244.6
259.5
52.1
207.4
3,035.4
581.4
1,692.4
349.3
1,343.1
838.1
505.0
389.4
114.5
4,207.6
1,168.9
672.5
65.3
607.2
538.1
69.1
496.4
238.1
258.3
51.5
206.8
3,038.7
579.6
1,698.5
348.9
1,349.6
846.9
502.7
387.9
117.9
4,200.9
1,171.1
675.1
63.0
612.1
542.5
69.6
496.0
236.6
259.4
51.6
207.7
3,029.8
577.8
1,690.2
350.2
1,340.0
835.2
504.8
389.2
114.2
4,206.5
1,166.8
664.2
56.8
607.4
540.2
67.2
502.6
241.4
261.3
52.5
208.8
3,039.7
585.0
1,696.1
349.1
1,347.0
839.5
507.5
389.3
107.7
4,216.1
1,175.7
667.6
61.3
606.3
537.8
68.4
508.1
248.2
259.9
53.0
206.8
3,040.4
582.3
1,696.4
349.5
1,347.0
841.1
505.9
390.5
119.8
84.9
17.8
19.1
10.1
83.0
17.1
20.8
10.2
84.9
16.3
23.4
10.4
90.4
18.8
23.5
10.6
87.6
19.2
23.5
10.6
88.4
19.2
23.3
10.7
86.2
21.6'
23.5
10.8
92.2
22.3
23.6
10.6
96.2
21.7
23.5
10.7
92.7
21.5
23.5
10.7
85.3
22.4
23.7
10.6
96.3
23.5
23.9
10.5
21.2
152.6
93.5
155.8'
25.5'
143.9
94.1
163.0'
25.7'
101.3
93.0
169.0'
29.2
100.8
92.7
167.0'
25.3
104.7
92.7
180.6'
28.7
99.7
91.6
182.7
30.5
100.1
88.5
178.6
32.9
102.4
88.3
173.5
28.6
103.6
88.4
171.6
31.1
104.8
88.3
175.0
37.7
101.0
88.5
165.8
31.3
97.8
87.9
185.2
83.0'
72.8
152.3
473.3
101.8'
61.2
137.6
506.5
95.2'
73.8
143.7
513.3
97.8'
69.2
138.7'
504.7
110.0'
70.6
139.6
511.6
117.2
65.4
139.5
515.0
113.3
65.3
142.9
519.0
109.4
64.0
135.8
527.2
106.0
65.6
135.2
528.4
111.5
63.4
142.9
525.5
100.7
65.1
127.8
527.5
124.4
60.8
138.2
530.3
4,610.1'
4,761.0'
4,896.8'
4,915.9'
4,948.6'
4,947.5'
4,977.5'
5,013.4
5,010.2
5,011.6
4,994.9
5,037.3
2,684.4'
316.3'
2,368.1'
430.1
1,938.0'
834.3
151.1
683.2
241.5
328.5'
2,709.8'
301.8'
2,408.0'
472.4
1,935.6'
867.9
150.9
717.0
289.3
353.2'
2,778.5'
302.5'
2,476.0'
479.1
1,996.9'
883.4
148.1
735.3
271.8
357.3'
2,771.2'
307.2'
2,464.0'
471.8
1,992.2'
898.8
153.2
745.6
282.8
360.3'
2,799.5'
297.7
2,501.8'
474.4
2,027.4'
888.2
151.9
736.3
300.3
363.1'
2,817.1
307.3
2,509.8
472.4
2,037.4
876.9
136.9
740.1
299.2
364.0'
2,788.7
299.5
2,489.2
469.6
2,019.6
895.1
139.9
755.1
295.9
366.7
2,825.8
306.4
2,519.3
475.7
2,043.6
933.4
142.5
790.8
276.8
379.2
2,802.5
306.9
2,495.6
476.5
2,019.1
933.2
135.3
797.9
276.5
382.0
2,828.0
310.3
2,517.6
476.0
2,041.6
934.7
150.3
784.4
264.6
379.4
2,825.1
304.4
2,520.8
476.6
2,044.2
914.9
144.8
770.1
285.2
374.8
2,844.6
303.0
2,541.6
473.4
2,068.2
947.8
142.4
805.4
287.2
373.0
4,088.7'
4,220.2'
4,290.9'
4,313.1'
4,351.1'
4,357.3'
4,346.4
4,415.1
4,394.1
4,406.6
4,400.0
4,452.6
521.4'
540.7'
605.9'
602.9'
597.5'
590.2'
631.2'
598.3
616.1
604.9
595.0
584.8
18
Federal Reserve Bulletin Statistical Supplement • April 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
Mar.
Sept.
Oct.
2007
2007
2006
2006
Nov.
Dec.
Jan.
Feb.
Mar.
Mar. 7
Mar. 14
Mar. 21
Mar. 28
Not seasona lly adjusted
Assets
47 Bank credit
48
Securities in bank credit
49
Treasury and Agency securities2 .
50
Trading account
51
Investment account
52
Mortgage-backed
53
Other
54
Other securities
55
Trading account
56
Investment account
57
State and local government .
58
Other
59 Loans and leases in bank credit3 . . .
60
Commercial and industrial
61
Real estate
62
Revolving home equity
63
Other
64
Other residential
65
Commercial
66
Consumer
67
Credit cards and related plans .
68
Other
69
Security4
70
Federal funds sold to and
repurchase agreements
with broker-dealers
71
Other
72
State and local government
73
Agricultural
74
Federal funds sold to and
repurchase agreements
with others
75
All other loans
76
Lease-financing receivables
77 Interbank loans
78 Federal funds sold to and
repurchase agreements
with commercial banks
79
Other
80 Cash assets5
81 Other assets8
82 Total assets7
83
84
85
86
87
88
89
90
91
92
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
93 Total liabilities
94 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3.832.1'
1,068.0
622.7
39.0
583.7
504.1
79.6
445.4
207.8
237.5
41.9
195.7
2,764.1'
536.0'
1,462.1'
321.6
1,140.6'
697.8
442.8'
372.4
113.5
258.8
99.8
3,983.7'
1,118.4'
643.7'
43.2
600.4
527.8
72.7'
474.7'
223.2'
251.5
43.0
208.5
2,865.4'
554.9'
1,539.9
330.5'
1,209.5
740.1
469.3'
374.3
120.1
254.2
100.5
4,099.7'
1,122.2'
644.1
49.0
595.1
523.7'
71.4'
478.1'
223.0'
255.2
45.4
209.8
2,977.4'
562.9'
1,679.7
347.4'
1,332.3'
847.8
484.5'
377.0
120.5
256.5
103.9'
4,154.7'
1,147.4
656.2
55.8
600.4
527.8'
72.6'
491.2
234.0
257.2
47.6
209.7
3,007.2'
566.1'
1,688.4
347.0
1,341.4'
850.5
490.9'
383.0
124.0
258.9
110.9'
4,167.9'
1,153.0
646.5
47.2
599.3
529.5'
69.7'
506.6
247.9
258.7
49.9
208.8
3,014.8'
569.7'
1,686.8'
348.6
1,338.1'
847.2
490.9'
385.6
130.1
255.5
4,153.3'
1,143.5
652.3
52.2
600.1
529.2'
71.0'
491.2
231.2
260.0
50.1
209.9
3,009.8'
569.8'
1,687.8
350.0
1,337.8
845.3
492.5
390.1
129.9
260.2
106.2
4,176.5'
1,156.4
662.7
54.8
607.8
538.4'
69.5'
493.7
231.1
262.6
50.9
211.6
3,020.1'
577.5'
1,692.3'
350.2'
1,342.1
839.9'
502.1
391.9'
126.9
265.0
106.6
4,194.8
1,170.0
670.5
63.8
606.7
538.7
68.0
499.5
242.4
257.1
51.6
205.5
3,024.8
583.0
1,684.3
346.3
1,338.0
833.3
504.7
387.7
122.7
265.0
114.3
4,206.2
1,173.0
678.0
68.0
610.0
540.7
69.4
495.0
237.5
257.5
51.3
206.3
3,033.3
581.2
1,693.9
347.5
1,346.4
842.9
503.5
387.9
123.2
264.7
118.1
4,190.1
1,169.6
675.8
64.2
611.6
542.8
68.8
493.8
235.4
258.4
51.7
206.7
3,020.5
579.5
1,683.7
347.6
1,336.1
831.0
505.1
387.6
123.1
264.5
114.0
4,186.5
1,160.6
663.9
57.1
606.7
540.7
66.1
496.7
238.6
258.2
51.8
206.4
3,025.9
586.7
1,685.4
345.6
1,339.8
833.5
506.3
387.6
122.2
265.4
107.6
4,192.0
1,165.5
665.5
61.1
604.3
537.1
67.3
500.0
244.3
255.7
52.1
203.6
3,026.6
583.7
1,685.7
345.6
1,340.1
835.4
504.7
388.0
122.5
265.4
119.7
82.5
17.3
19.1
10.0
83.1
17.4
20.8
10.2
87.0
16.9
23.4
10.4
91.9
19.0
23.5
10.6
91.1
20.0
23.5
10.7
87.2
19.0
23.3
10.8
86.0
20.7'
23.5
10.7
92.6
21.7
23.6
10.5
96.4
21.8
23.5
10.6
92.9
21.1
23.5
10.6
85.8
21.8
23.7
10.5
97.3
22.4
23.9
10.4
21.2
149.4
94.0
152.8'
25.5'
145.7
93.4
161.7'
25.7'
101.5
92.9
168.7'
29.2
102.8
92.7
168.1'
25.3
109.1
93.0
182.8'
28.7
100.4
92.6
183.1
30.5
98.0
89.2
173.3
32.9
99.7
88.8
169.5
28.6
100.5
89.0
163.3
31.1
101.6
88.9
175.6
37.7
98.0
88.8
163.1
31.3
95.6
88.3
176.3
81.6'
71.1
147.9
468.5
101.0'
60.7
136.2
509.3
95.0'
73.7
144.2
514.5
98.2'
69.8
142.4
505.3
111.4'
71.3
150.6
508.3
117.6
65.5
147.9
510.0
110.0
63.3
142.4
512.2
106.9
62.7
131.6
521.9
100.9
62.5
131.4
523.0
111.9
63.6
141.6
524.1
99.1
64.1
121.9
520.4
118.4
57.9
132.9
520.5
4,569.1'
4,759.1'
4,894.1'
4,937.2'
4,975.7'
4,961.4'
4,971.4'
4,985.0
4,991.1
4,998.6
4,959.1
4,989.1
2,677.4'
314.6'
2,362.8'
426.3
1,936.5'
826.9
150.1
676.8
235.1
320.7'
2,708.5'
297.8'
2,410.7'
471.8
1,938.9'
877.9
152.3
725.6
291.5
355.8'
2,779.2'
297.7'
2,481.5'
480.2
2,001.3'
882.5
148.5
734.0
274.4
360.5'
2,783.6'
310.6'
2,473.0'
472.2
2,000.8'
893.6
154.0
739.6
288.4
366.6'
2,816.0'
320.3
2,495.7'
473.8
2,021.9'
876.2
149.4
726.8
305.2
368.4'
2,809.6
313.5
2,496.1
474.3
2,021.8
875.1
136.2
738.9
305.1
370.2'
2,797.4
294.4
2,503.0
472.6
2,030.3
892.9
138.7
754.2
303.4
374.5
2,817.6
304.2
2,513.4
471.6
2,041.8
924.8
141.5
783.2
269.7
370.2
2,820.5
276.5
2,544.0
478.4
2,065.6
921.0
133.8
787.3
271.0
374.8
2,831.9
302.5
2,529.4
472.7
2,056.7
929.3
148.6
780.7
259.7
373.1
2,797.6
307.9
2,489.8
469.8
2,020.0
920.0
143.9
776.1
275.5
363.1
2,804.3
333.3
2,471.0
464.1
2,006.9
931.6
141.1
790.5
283.4
367.9
4,060.2'
4,233.7'
4,296.6'
4,332.2'
4,365.8'
4,360.0'
4,368.3
4,382.3
4,387.3
4,393.9
4,356.1
4,387.1
508.9'
525.4'
597.5'
604.9'
609.8'
601.4'
603.1'
602.7
603.8
604.7
603.0
602.1
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
Mar.'
Sept.'
Oct.'
2007
2007
2006
2006
Nov.'
Dec'
Jan.'
Feb.'
Mar.
Mar. 7
Mar. 14
Mar. 21
Mar. 28
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
3,031.4
693.7
477.6
216.1
2,337.7
363.8
1,509.3
126.3
1,383.0
348.7
10.7
105.2
97.1
109.4
237.2
3,162.2
697.3
474.0
223.3
2,464.9
398.0
1,590.9
121.6
1,469.3
354.2
11.1
110.6
93.3
109.5
248.4
3,175.4
710.0
476.7
233.2
2,465.5
397.7
1,598.2
120.0
1,478.2
347.1
11.0
111.3
94.8
108.9
268.0
3,182.7
706.1
473.2
232.9
2,476.6
400.3
1,603.0
121.6
1,481.4
346.6
11.7
115.0
108.0
107.2
272.4
3,208.4
697.2
462.1
235.0
2,511.2
403.9
1,624.3
121.9
1,502.4
355.0
11.6
116.4
114.6
110.6
284.2
3,236.6
699.3
463.8
235.5
2,537.3
405.9
1,638.4
121.2
1,517.2
360.9
11.5
120.6
116.9
112.4
291.7
3,253.3
699.9
462.4
237.5
2,553.4
408.2
1,657.7
121.0
1,536.7
355.5
11.3
120.8
117.0
110.7
293.7
3,191.3
698.5
456.6
241.9
2,492.8
410.7
1,598.3
112.8
1,485.5
351.4
11.8
120.5
129.7
109.7
285.2
3,249.1
707.7
460.6
247.1
2,541.4
409.6
1,649.5
122.2
1,527.3
351.1
11.6
119.7
126.5
111.1
287.3
3,162.8
695.7
457.4
238.3
2,467.2
410.5
1,573.8
108.5
1,465.3
350.4
11.6
120.9
128.1
108.9
286.9
3,171.6
694.8
456.4
238.4
2,476.8
410.4
1,582.1
110.7
1,471.3
351.9
11.8
120.6
124.7
108.5
280.0
3,176.7
695.5
453.5
242.0
2,481.2
AW 2
1,585.3
110.7
1,474.6
351.5
12.2
121.0
133.6
109.2
283.1
3,440.6
3,577.9
3,611.9
3,634.8
3,681.2
3,721.0
3,738.4
3,679.9
3,738.0
3,650.8
3,648.8
3,666.6
2,563.4
347.9
2,215.5
454.5
1,760.9
521.1
164.5
356.6
18.5
73.8
2,653.5
323.5
2,330.0
500.3
1,829.7
539.1
162.1
377.0
20.2
78.3
2,674.4
323.0
2,351.4
495.8
1,855.7
558.9
185.1
373.8
20.7
86.0
2,709.5
328.6
2,380.9
501.7
1,879.2
558.1
181.2
376.8
21.1
86.6
2,746.6
322.3
2,424.3
502.0
1,922.4
566.8
191.7
375.1
23.4
87.1
2,755.3
327.7
2,427.5
497.5
1,930.0
572.1
218.9
353.2
24.5
90.2
2,766.8
323.9
2,442.9
501.3
1,941.7
560.3
215.5
344.8
24.7
91.6
2,756.2
323.1
2,433.1
493.3
1,939.7
516.9
207.6
309.3
20.2
91.3
2,773.1
324.0
2,449.1
503.5
1,945.6
543.4
210.0
333.5
21.2
92.2
2,740.4
317.5
2,423.0
489.8
1,933.2
510.2
204.6
305.5
21.4
90.2
2,743.0
327.9
2,415.1
489.7
1,925.4
508.2
209.2
298.9
21.4
91.1
2,759.9
325.3
2,434.6
492.3
1,942.2
509.4
207.3
302.2
19.4
91.6
3,176.8
3,291.2
3,340.1
3,375.3
3,424.0
3,442.1
3,443.5
3,384.5
3,429.9
3,362.2
3,363.7
3,380.3
263.7
286.8
271.9
259.5
257.3
279.0
294.8
295.4
308.0
288.6
285.1
286.3
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.
3 019 2
695.1
479.0
216.1
2,324.1
364.6
1,500.0
125.6
1,374.4
516.6
857.8
344.8
183.5
161.4
11.0
103.7
102.9
104.9
237.2
3 167 9
696.1
472.7
223.3
2,471.8
395.8
1,596.8
122.3
1,474.6
553.6
921.0
355.3
192.6
162.7
11.0
112.9
91.3
111.0
248.4
3,183.1
707.5
474.3
233.2
2,475.6
396.4
1,606.1
120.7
1,485.4
554.7
930.8
349.5
188.1
161.3
11.0
112.6
97.3
110.3
268.0
3,200.9
705.4
472.5
232.9
2,495.5
399.3
1,618.3
121.5
1,496.8
561.5
935.3
350.3
189.1
161.2
12.1
115.6
114.5
110.7
272.4
3,228.1
699.5
464.5
235.0
2,528.6
403.3
1,634.3
121.5
1,512.8
572.1
940.7
362.3
201.4
161.0
11.8
116.8
118.7
114.3
284.2
3,243.1
699.1
463.7
235.5
2,544.0
405.7
1,642.2
120.7
1,521.4
575.4
946.0
366.3
202.9
163.5
11.3
118.4
115.7
114.4
291.7
3,250.5
698.7
461.2
237.5
2,551.8
408.4
1,657.4
120.7
1,536.7
585.9
950.7
356.8
194.1
162.7
11.3
118.0
120.1
110.2
293.7
3,179.6
700.5
458.6
241.9
2,479.1
411.6
1,589.3
112.2
1,477.1
522.1
954.9
347.3
185.7
161.6
12.1
118.9
136.7
105.5
285.2
3,241.8
708.5
461.4
247.1
2,533.2
410.0
1,645.0
121.9
1,523.1
570.9
952.2
347.5
186.0
161.5
12.1
118.6
136.7
108.1
287.3
3,153.0
697.4
459.1
238.3
2,455.6
AW 2
1,567.3
108.0
1,459.3
505.2
954.1
346.0
184.4
161.6
11.9
119.2
133.0
105.5
286.9
3,158.6
696.8
458.4
238.4
2,461.8
411.5
1,571.2
110.1
1,461.2
505.8
955.4
348.5
186.9
161.6
12.0
118.6
131.5
103.0
280.0
3,161.1
698.4
456.4
242.0
2,462.7
412.3
1,572.5
109.9
1,462.5
505.4
957.1
347.1
185.5
161.5
12.3
118.7
138.9
104.4
283.1
3,429.6
3,583.0
3,623.5
3,663.1
3,708.8
3,728.4
3,738.3
3,670.9
3,737.8
3,642.5
3,637.0
3,651.6
2,562.4
345.7
2,216.7
454.5
1,762.2
521.1
164.5
356.6
18.5
73.8
2,652.7
322.2
2,330.6
500.3
1,830.2
539.1
162.1
377.0
20.2
78.3
2,674.7
323.0
2,351.7
495.8
1,856.0
558.9
185.1
373.8
20.7
86.0
2,722.3
331.5
2,390.8
501.7
1,889.1
558.1
181.2
376.8
21.1
86.6
2,757.8
333.9
2,424.0
502.0
1,922.0
566.8
191.7
375.1
23.4
87.1
2,748.1
329.4
2,418.7
497.5
1,921.2
572.1
218.9
353.2
24.5
90.2
2,760.8
320.0
2,440.8
501.3
1,939.5
560.3
215.5
344.8
24.7
91.6
2,755.5
321.0
2,434.4
493.3
1,941.1
516.9
207.6
309.3
20.2
91.3
2,785.3
306.7
2,478.6
503.5
1,975.1
543.4
210.0
333.5
21.2
92.2
2,740.3
309.5
2,430.8
489.8
1,941.0
510.2
204.6
305.5
21.4
90.2
2,733.2
325.4
2,407.9
489.7
1,918.2
508.2
209.2
298.9
21.4
91.1
2,746.8
346.6
2,400.2
492.3
1,907.9
509.4
207.3
302.2
19.4
91.6
3,175.8
3,290.4
3,340.4
3,388.1
3,435.2
3,434.9
3,437.5
3,383.8
3,442.1
3,362.1
3,353.9
3,367.2
253.8
292.6
283.1
275.0
273.6
293.5
300.8
287.1
295.7
280.4
283.1
284.4
20
Federal Reserve Bulletin Statistical Supplement • April 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
Mar.
Sept.
Oct.
2007
2007
2006
2006
Nov.
Dec.
Jan.'
Feb.'
Mar.
Mar. 7
Mar. 14
Mar. 21
Mar. 28
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
829.4
345.3
78.4
267.0
484.1
175.3
21.3
156.1
131.5
47.6
52.3
37.0
910.5'
370.7'
84.5
286.2'
539.8
209.9
23.5
165.8
140.7
57.1
48.3
43.0'
915.7'
367.7'
81.2
286.6'
547.9
214.7
23.9
167.1
142.2
62.0
47.5
39.2'
915.6'
372.5'
82.8
289.7'
543.1
215.3
23.5
166.9
137.4'
65.7
51.6
35.0'
930.9'
374.4'
84.5
290.0'
556.4
216.1
24.4
173.8
142.2
64.1
50.9
35.6'
939.1
377.1
82.1
295.0
562.0
216.7
24.9
176.6
143.8
67.3
50.6
34.3
966.3
385.0
86.1
298.9
581.3
218.2
24.5
189.3
149.2
66.5
50.9
38.5
968.4
391.3
86.2
305.1
577.1
218.5
25.8
186.3
146.5
62.3
49.0
37.7
978.1
390.8
88.4
302.4
587.3
219.7
24.9
194.0
148.7
67.3
49.5
35.2
964.2
394.5
90.2
304.3
569.7
217.7
25.2
179.9
146.9
64.9
49.9
35.6
962.4
388.9
84.0
305.0
573.4
219.3
25.6
183.1
145.4
59.1
47.8
36.7
960.9
388.9
82.7
306.2
572.0
216.4
26.5
184.0
145.0
60.7
50.1
40.5
965.8
1,058.4
1,063.9
1,067.4
1,080.9
1,090.8
1,121.7
1,116.9
1,129.6
1,114.0
1,105.4
1,111.7
648.7
13.4
635.3
434.3'
58.6'
375.7'
-219.5
99.6
741.4
10.8
730.6
446.7
54.2'
392.5'
-252.1
120.9
751.5'
10.4
741.2'
468.6
56.0'
412.6'
-268.3
115.4
764.1'
11.0
753.1'
489.2'
60.7'
428.6'
-297.4'
113.2'
761.4'
10.7
750.7'
503.9'
59.7'
444.2'
-292.0'
115.1
771.3
10.5
760.8
509.0
62.0
447.0
-304.3
116.8
788.0
10.2
777.8
517.0
62.7
454.3
-300.8
119.8
821.0
10.4
810.5
534.2
69.1
465.1
-356.6
117.6
805.4
10.5
794.9
546.9
68.5
478.3
-335.5
112.1
804.8
10.0
794.8
548.1
76.5
471.6
-357.7
119.3
819.6
10.3
809.3
522.2
61.0
461.1
-348.7
118.9
837.6
10.5
827.1
520.0
71.7
448.3
-375.4
120.6
963.0'
1,057.0'
1,067.2'
1,069.0
1,088.4'
1,092.8
1,124.0
1,116.2
1,129.0
1,114.5
1,112.0
1,102.8
-2.1
-2.3
.7
.6
-.5
-6.6
8.9
2.8'
1.4
-3.3
-1.6
-7.4
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.
832.4
345.3
78.4
28.2
50.2
267.0
157.0
110.0
487.1
176.8
21.3
157.9
131.1
47.6
50.6
36.9
905.7'
370.7'
84.5
27.7
56.8
286.2'
178.5
107.6
535.0
208.4'
23.5
162.7
140.4
57.1
49.2
42.4
912.5'
367.7'
81.2
24.0
57.2
286.6'
178.1'
108.5'
544.7
211.8
23.9
169.8
139.2
62.0
48.3
38.4'
916.9'
372.5'
82.8
25.4
57.4
289.7'
182.2'
107.5
544.4
213.0
23.5
171.8
136.0
65.7
52.2
34.4'
939.0'
374.4'
84.5
24.5
60.0'
290.0'
182.0'
108.0
564.5
216.8
24.4
180.6
142.8
64.1
52.1
36.4'
947.4
377.1
82.1
21.7
60.4
295.0
183.5
111.5
570.3
218.8
24.9
181.0
145.5
67.3
51.4
35.5
971.7
385.0
86.1
26.0
60.1
298.9
186.2
112.7
586.7
221.1
24.5
191.0
150.0
66.5
50.2
39.3
971.7
391.3
86.2
29.6
56.6
305.1
190.5
114.6
580.4
220.3
25.8
186.4
147.9
62.3
47.4
37.6
979.6
390.8
88.4
31.7
56.7
302.4
189.2
113.2
588.8
221.6
24.9
192.4
149.9
67.3
47.8
35.9
968.3
394.5
90.2
31.7
58.4
304.3
190.1
114.2
573.9
219.7
25.2
180.7
148.2
64.9
48.7
36.4
966.7
388.9
84.0
28.2
55.7
305.0
190.0
114.9
577.7
221.3
25.6
184.2
146.6
59.1
46.0
35.4
964.0
388.9
82.7
27.5
55.2
306.2
190.9
115.3
575.1
218.0
26.5
184.2
146.4
60.7
48.4
40.2
966.9
1,053.9'
1,060.7
1,068.7
1,091.1
1,101.0
1,127.2
1,118.5
1,130.2
1,117.7
1,106.6
1,112.9
651.7
13.7
638.1
434.3'
58.6'
375.7'
-221.3
98.5
733.0
10.8
722.2
446.7
54.2'
392.5'
-250.6
121.9
736.3'
10.2
726.0
468.6
56.0'
412.6'
-264.5'
117.5
751.6'
10.9
740.7'
489.2'
60.7'
428.6'
-291.7
116.7'
755.3'
11.1
744.2'
503.9'
59.7'
444.2'
-288.2
117.3
774.0
10.7
763.3
509.0
62.0
447.0
-302.2
118.0
789.4
10.5
778.8
517.0
62.7
454.3
-301.0
119.7
824.7
10.6
814.1
534.2
69.1
465.1
-358.8
116.3
802.7
10.5
792.2
546.9
68.5
478.3
-334.3
112.8
809.2
10.1
799.0
548.1
76.5
471.6
-359.7
118.0
822.1
10.3
811.8
522.2
61.0
461.1
-355.1
115.2
846.9
11.1
835.8
520.0
71.7
448.3
-376.3
120.1
963.2'
1,051.0
1,057.8
1,065.8
1,088.3
1,098.9
1,125.0
1,116.3
1,128.1
1,115.6
1,104.4
1,110.7
3.8'
2.9
2.9
2.9
2.8
2.2
2.2
2.2
2.2
2.2
2.2
2.2
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
Mar.
2006
Sept.
Oct.
2007
2007
Nov.
Dec.
Jan.
Feb.
Mar.
Mar. 7
Mar. 14
Mar. 21
Mar. 28
Not seasonally adjusted
MEMO
1
2
3
4
5
6
7
8
9
10
Large domestically chartered banks,
adjusted for mergers
Revaluation gains on off-balance-sheet
items9
Revaluation losses on off-balancesheet items9
Mortgage-backed securities10
Pass-through
CMO, REMIC, and other
Net unrealized gains (losses) on
available-for-sale securities"
Securitized consumer loans12
Credit cards and related plans
Other
Securitized business loans12
92.6
104.8'
103.8'
106.5
116.2
109.5
109.0
113.8
115.0
112.8
114.7
111.9
79.4
593.0
459.9
133.2
91.0
620.4
481.7
138.8
91.5
621.4
473.6
147.8
90.2
623.6
483.8
139.8
96.2
625.6
491.6
134.0
90.5
628.8
494.8
134.0
91.7
639.6
505.9
133.8
94.6
633.0
507.4
125.5
95.8
635.0
508.3
126.8
92.0
637.4
510.4
127.0
98.3
636.3
510.7
125.6
91.8
632.3
507.8
124.5
-14.0
100.2
70.4
29.8
3.0
-3.0
102.5
68.7
33.8
2.3
-1.6
101.8
67.1
34.7
2.2
-2.8
102.1
66.6
35.5
2.2
-4.0
105.7'
67.2
38.5'
2.2
-6.0
105.1'
67.3
37.8'
2.2
-5.8
104.6'
67.6
37.0'
2.2
-3.3
106.1
69.5
36.6
2.2
-3.1
105.9
69.4
36.6
2.2
-3.3
106.0
69.2
36.8
2.2
-2.9
106.3
69.6
36.7
2.2
-3.6
106.2
69.6
36.6
2.2
326.6
272.0
268.1
4.0
327.0'
278.8
275.3
3.5
331.7'
282.9
279.4
3.5
329.8'
285.4
281.7
3.7
322.7'
286.6
283.0
3.7
324.1'
285.7
282.1
3.7
325.2'
286.4
282.8
3.6
321.5
289.9
286.4
3.6
330.8
289.0
285.5
3.5
320.0
290.1
286.5
3.6
319.7
288.9
285.3
3.6
317.9
291.2
287.7
3.6
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11
securities
12 Mortgage-backed
Securitized consumer
loans12
13
Credit cards and related plans
14
Other
Foreign-related institutions
15 Revaluation gains on off-balancesheet items9
16 Revaluation losses on off-balancesheet items9
61.3
68.6
67.3'
66.8'
67.2'
64.7'
65.0'
65.6
66.4
67.1
66.3
63.3
65.1
76.1
75.9'
73.9'
73.8'
72.8'
71.6'
71.5
72.1
72.5
72.1
69.7
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 • April 2007
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2006
Item
1 All issuers
2 Financial companies'
3 Nonfinancial companies2
2002
2003
2004
2005
2006
July
Aug.
Sept.
Oct.
Nov.
Dec.
1,341,226
1,260,745
1,375,717
1,631,009
1,981,387
1,796,699
1,840,587
1,887,218
1,885,773
1,930,287
1,981,387
522,863
147,689
519,731
103,982
595,249
119,727
667,321
132,207
757,498
171,302
715,193
142,738
735,897
143,567
750,459
142,143
751,896
126,121
762,428
141,360
757,498
171,302
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
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
2006
Item
2004
2005
2006-2007, week ending
2007
2006
Oct.
Nov.
Dec.
Jan.
Dec. 29
Jan. 5
Jan. 12
Jan.19
Jan. 26
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
5.25
6.25
5.25
6.25
5.24
6.25
5.25
6.25
5.24
6.25
5.22
6.25
5.23
6.25
5.24
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
5.20
5.18
5.19
5.21
5.19
5.17
5.23
5.20
5.19
5.22
5.19
5.17
5.25
5.23
n.a.
5.23
5.19
n.a.
5.24
5.21
5.17
5.20
5.21
5.18
5.21
5.19
5.17
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
5.23
5.23
5.24
5.23
5.24
5.24
5.25
5.24
5.24
5.25
5.24
5.24
5.25
5.24
5.24
5.25
5.24
5.23
5.25
5.24
5.24
5.25
5.24
5.24
5.24
5.24
5.24
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
5.33
5.35
5.29
5.32
5.33
5.31
5.32
5.31
5.29
5.32
5.34
5.32
5.32
5.32
5.30
5.32
5.32
5.29
5.32
5.33
5.29
5.32
5.35
5.29
5.32
5.35
12 Eurodollar deposits, 3-month3>s
1.55
3.51
5.19
5.36
5.36
5.35
5.35
5.36
5.35
5.35
5.35
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
4.88
4.92
4.92
5.13
4.94
4.95
4.78
4.85
4.88
4.84
4.98
4.95
4.66
4.87
4.91
4.71
4.92
4.90
4.84
4.96
4.94
4.89
4.99
4.96
4.88
5.00
4.98
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
5.01
4.80
4.72
4.69
4.69
4.73
4.94
5.01
4.74
4.64
4.58
4.58
4.60
4.78
4.94
4.67
4.58
4.53
4.54
4.56
4.78
5.06
4.88
4.79
4.75
4.75
4.76
4.95
4.99
4.78
4.70
4.65
4.66
4.67
4.88
4.98
4.76
4.68
4.65
4.65
4.66
4.84
5.03
4.82
4.74
4.70
4.70
4.70
4.88
5.08
4.90
4.81
4.76
4.76
4.77
4.96
5.10
4.95
4.87
4.82
4.82
4.83
5.01
4.50
5.09
4.68
4.28
4.86
4.40
4.15
4.71
4.40
3.91
4.48
4.30
3.81
4.34
4.14
3.76
4.26
4.11
3.89
4.34
4.23
3.82
4.31
4.17
3.78
4.24
4.15
3.86
4.31
4.21
3.92
4.37
4.25
4.00
4.44
4.32
6.00
5.57
5.98
5.91
5.72
5.72
5.86
5.83
5.77
5.80
5.86
5.92
5.63
5.91
6.08
6.39
5.23
5.37
5.59
6.06
5.59
5.80
6.06
6.48
5.51
5.74
5.94
6.42
5.33
5.57
5.76
6.20
5.32
5.58
5.78
6.22
5.40
5.75
5.93
6.34
5.43
5.69
5.89
6.32
5.31
5.66
5.85
6.27
5.34
5.68
5.88
6.29
5.41
5.76
5.94
6.35
5.47
5.81
5.99
6.39
1.64
1.73
1.82
1.80
1.79
1.78
1.78
1.78
1.80
1.77
1.77
1.78
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 • April 2007
1.36
STOCK MARKET
Selected Statistics
2006
Indicator
2004
2005
2007
2006
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
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.
7,985.59
n.a.
n.a.
n.a.
n.a.
8,103.97
n.a.
n.a.
n.a.
n.a.
8,294.89
n.a.
n.a.
n.a.
n.a.
8,383.29
n.a.
n.a.
n.a.
n.a.
8,651.02
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.
6 Standard & Poor's Corporation
(1941^3 - 10)'
1,130.65
1,207.23
1,310.46
1,253.12
1,260.24
1,287.15
1,317.81
1,363.34
1,388.63
1,416.42
1,424.16
1,444.79
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
1,260.02
1,567.52
1,936.79
1,881.59
1,924.93
1,996.50
1,950.11
1,920.93
2,003.86
2,065.81
2,060.93
2,150.89
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1 403 376 1 542 724 2 254 869 2 501 759 2 351 792 2 201 576 2 446 458 2 544 752 2 613 632 2 366 386 2 851 992 2 701 807
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
225,780
231,490
226,480
237,120
244,370
270,520
275,380
285,610
295,870
117,850
93,580
119,710
88,730
159,040
94,450
137,550
84,400
141,000
79,420
139,290
79,460
142,580
80,470
143,400
80,200
155,200
90,980
159,040
94,450
156,190
90,340
155,140
96,550
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
2004
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
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
7,620.4
7,801.0
7,860.2
7,956.3
8,194.3
8,394.7
8,443.7
8,530.4
8,703.7
7,596.1
4.406.4
3,189.8
7,776.9
4,572.4
3,204.5
7,836.5
4,527.6
3,308.9
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
24.3
23.9
.4
24.1
24.1
.0
23.7
23.7
.0
23.6
23.6
.0
23.8
23.8
.0
23.6
23.6
.0
23.6
23.6
23.4
23.4
23.5
23.5
8,281.5
8,330.6
8,420.3
8,592.5
7,535.5
.2
7,715.4
.1
7,778.0
.1
7,870.9
.1
8,106.9
.2
8,281.4
.1
8,330.6
8,184.0
8,184.0
8,184.0
8,184.0
8,184.0
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
8,592.4
MEMO
11 Statutory debt limit
1. Consists of guaranteed debt of U.S. Treasury and other federal agencies, specified
participation certificates, notes to international lending organizations, and District of Columbia stadium bonds.
1.41
GROSS PUBLIC DEBT OF U.S. TREASURY
SOURCE: U.S. Department of the Treasury, Monthly Statement of the Public Debt of the
United States and Monthly Treasury Statement.
Types and Ownership
Billions of dollars, end of period
Type and holder
1 Total gross public debt
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
By type
Interest-bearing
Marketable
Bills
Notes
Bonds
Inflation-indexed notes and 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
Ql
Q2
Q3
Q4
8,400.2
4,354.9
916.7
2,427.4
8,455.1
4,354.0
911.5
8,627.5
4,413.9
944.2
2,409.9
530.6
AW 2
4,338.3
257.6
3.0
3.0
.0
187.7
3,839.4
124.6
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
539.5
245.9
3,618.8
160.7
5.9
5.9
.0
191.7
3,230.6
17.6
963.9
2,326.8
516.6
328.7
3,986.5
235.6
3.8
3.8
.0
191.2
3,506.6
53.4
8,627.5
4,413.9
944.2
2,409.9
530.6
AW 2
4,338.3
257.6
3.0
3.0
.0
187.7
3,839.4
124.6
8,351.7
4,340.4
1,003.2
2,157.1
136.5
364.2'
3,189.1
717.8
3,690.6'
127.5'
254.1'
149.7'
387.4'
3,466.9
744.2
3,970.6
117.2
251.3'
160.4'
456.2'
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'
192.2
3,007.0
16.0
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.
1,042.1
2,409.7
526.7
347.9
4,030.8
234.8
3.4
3.4
.0
192.0
523.1
2,415.5
534.7
19.5
372.8
4,166.0
242.0
3.0
3.0
.0
191.0
3,680.2
120.8
395.6
4,203.9
238.8
3.0
3.0
.0
189.2
3,722.8
102.9
3,783.1
778.9
4,122.1
115.9
249.9
166.0
484.2
3,502.0
758.5
4,114.0
115.4
248.7
162.9
456.5
3,626.6
766.4
4,030.8
116.8
244.2
164.4
466.2
4,074.2
114.0
235.3
165.4
463.0
3,783.1
778.9
4,122.1
115.9
249.9
166.0
484.2
202.4
326.1
193.2
132.9
2,225.0
n.a.
205.9
311.9
183.0
128.9
2,083.6
528.0
205.2
320.5
188.4
132.1
2,099.1
413.7
203.6
323.3
191.2
132.1
2,147.5
417.0
202.4
326.1
193.2
132.9
2,225.0
n.a.
3,551.2
3,668.0
768.9
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 • April 2007
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2006
2006, week ending
2007, week ending
Item
Oct.
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
Nov.
Dec.
Dec. 6
Dec. 13
Dec. 20
Dec. 27
Jan. 3
Jan. 10
Jan.17
Jan. 24
Jan. 31
41,879
54,028
52,237
62,367
54,129
46,389
51,295
43,750
36,036
40,108
34,611
43,177
190,332
189,591
177,154
267,332
185,099
159,967
116,576
141,056
192,053
166,962
174,332
223,281
123,697
106,283
112,452
160,900
117,727
96,851
74,799
116,672
130,636
122,877
111,172
162,419
110,855
22,993
9,015
122,619
25,845
6,090
108,638
25,140
6,459
149,034
33,243
7,047
126,669
32,951
6,760
101,242
24,025
8,070
67,077
11,959
4,060
84,379
18,555
5,297
115,615
27,542
9,450
108,432
23,068
10,831
110,265
24,192
12,162
131,678
26,318
11,825
55,409
55,085
60,045
57,233
54,235
62,106
66,456
62,216
59,028
66,954
66,218
67,036
7,875
7,784
9,478
11,549
9,716
12,660
4,584
6,576
8,390
12,541
9,749
9,762
4,737
3,299
3,361
4,939
4,610
2,849
1,618
1,846
2,944
3,878
2,093
3,040
3,208
443
3,533
467
3,254
841
6,344
487
2,991
1,331
3,230
1,121
1,236
434
1,830
436
7,212
344
7,396
732
2,827
264
4,060
1,601
278,490
276,363
267,620'
438,754
360,764
190,655
107,204
205,738
532,675
237,321
217,425
286,378
198,955
23,386
188,255
25,054
194,711
22,404'
199,749
23,655
192,972
25,720
205,947
30,185
177,968
12,984
194,375
10,997
189,870
25,546
194,285
23,853
189,157
35,679
189,041
26,422
214,674
213,643
203,698
285,233
222,463
186,904
141,070
160,956
202,879
196,093
196,137
240,103
6,028
67,369
572
5,282
63,471
503
5,743
57,092'
408
6,988
78,678
539
6,767
80,261
502
6,116
49,675
443
3,746
24,474
170
3,758
39,772
301
5,317
110,471
585
7,420
48,897
754
5,973
50,745
955
7,452
64,937
1,158
284,098
290,813
278,381
394,689
300,872
249,641
184,696
248,754
308,453
276,184
270,596
358,594
65,645
211,121
221,769
64,886
212,891
212,806
71,236
210,528'
216,707'
73,565
360,076
222,865
66,116
280,503
218,191
75,851
140,980
235,689
70,584
82,730
190,782
69,146
165,965
205,071
72,600
422,204
214,831
84,082
188,424
217,384
75,177
166,679
223,881
78,047
221,441
214,305
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
2006
2006
Item, by type of security
Oct.
Nov.
Dec.
Dec. 6
Dec. 13
Dec. 20
Dec. 27
Jan. 3
Jan. 10
Jan.17
Jan. 24
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
-6,537
1,520
-5,995
1,257
-799
-2,828
-14,021
-17,461
-14,136
-13,732
-23,980
-42,455
-46,905
-48,199
-46,239
-47,281
-48,596
-47,289
-53,640
-49,692
-43,376
-41,822
-35,394
-36,583
-17,373
-14,589
-18,575
-19,385
-17,694
-15,365
-17,836
-23,434
-27,038
-29,618
-16,023
839
-32,355
-16,750
3,151
-44,108
-20,610
2,716
-40,104
-18,877
1,843
-43,222
-19,534
2,587
-47,560
-21,798
2,870
-44,904
-22,231
3,516
-44,233
-20,179
2,579
-45,979
-20,984
3,789
-43,349
-20,120
2,559
-46,260
-19,865
3,687
46,978
45,376
38,111'
38,573
37,973
40,163
36,280
37,269
30,167
35,544
31,085
28,776
30,880
29,408'
34,635
30,014
26,675
26,722
29,994
26,687
26,863
24,584
14,323
15,421
12,653'
14,041
12,321
12,636
12,117
12,118
13,223
13,918
13,647
6,981
9,311
8,894
9,539
9,124'
10,223'
9,590
9,604
8,880
10,564
8,768
10,029
8,667
10,129
10,277
11,056
9,559
10,813
11,299
10,519
11,803
10,491
43,204
50,649
46,483'
52,789
49,842
41,734
44,124
43,584
45,662
44,586
54,839
44,549
156,427
44,492
165,916
42,764'
172,716'
42,470
165,962
49,143
177,074
43,481
173,313
36,357
174,114
41,997
171,731
38,153
164,628
43,358
160,125
44,064
153,591
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
1 351 334 1 271 843
996,349 1,043,170
1 255 770
1,075,887
1 223 290
1,110,089
1 264 568
955,891
1 284 341
1,049,574
1 286 009
1,093,971
1 251 798
1,172,717
186,111
234,602
193,997
238,185
183,063
235,975
169,873
245,440
171,729
217,425
181,862
224,287
182,974
228,817
173,790
228,017
113,177'
413,186'
114,050
413,115
119,436
414,691
113,485
424,497
101,892
421,529
120,127
376,261
132,078
398,283
140,776
398,867
142,557
418,648
108,043'
97,346'
106,951
97,048
108,009
97,407
108,139
95,915
109,283
101,776
107,400
92,441
108,431
91,533
108,146
90,046
107,481
89,403
800,232
1 405 094
867,288
798,145'
1 359 169' 1 324 652
802,702
1 381 932
785,742
1 402 769
755,957
1 423 743
781,990
1,181,801
815,226
1,283,185
827,417
1,328,107
787,172
1,409,891
1 262 015
816,518
1 276 509
864,018
1 284 706
820,367
1 363 308
770,194
1 273 170
829,980
1 271 680
845,037
1 239 428
888,375
1 289 022
716,615
1 285 241
818,651
1 286 407
870,871
1 230 327
955,412
331,581
164,197
337,180
170,513
325,381
166,868
350,206
162,040
339,257
166,859
320,495
174,634
304,737
178,539
308,537
140,110
313,024
146,230
325,532
142,601
316,950
146,454
600,543
245,721
601,492
258,298
597,636'
259,963'
613,229
255,485
608,812
270,284
608,528
264,234
578,433
275,243
569,236
214,407
580,629
230,889
611,414
216,745
622,172
228,722
288,918
56,426
285,345
61,748
298,760'
59,528'
296,164
58,246
297,713
58,518
301,296
53,721
292,194
59,038
311,542
74,240
305,165
75,731
305,820
76,039
292,359
78,510
2,193,779
1,199,443
2,204,452
1,273,901
2,210,498'
1,233,796'
2,323,723
1,172,453
2,221,223
1,260,835
2,198,810
1,269,406
2,130,730
1,317,670
2,181,939
1,069,396
2,188,148
1,189,372
2,234,034
1,221,798
2,167,517
1,329,139
1 271 697
1,045,345
1,282,638
1,014,288
1,278,567
1,080,195
190,400
223,831
186,480
236,435
181,681
235,952
131,304
389,408
118,166
400,309
110,511
94,279
110,491
96,524
799,840
1 342 730
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 • April 2007
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Agency
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
2,351,039
n.a.
25.412
6
n.a.
290
n.a.
>,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
n.a.
n.a.
25.406
n.a.
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
July
Aug.
23,515
6
23,323
6
n.a.
90
n.a.
24,267
6
24,261
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
23,843
6
n.a.
161
n.a.
n.a.
23,837
n.a.
Sept.
n.a.
23,509
n.a.
n.a.
23,317
n.a.
n.a.
23,398
6
23,392
23,217
6
n.a.
112
n.a.
n.a.
23,211
n.a.
n.a.
921,793
773,600
754,535
113,021
91,929
8,170
1,261
29,996
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.
28^25
29,764
29,694
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.
18,515
n.a.
9,810
18,086
n.a.
29,764
n.a.
n.a.
29,694
23,351
6
23,345
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
37,017
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
14,489
22,528
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
July
Sept.
1 All issues, new and refunding1
357,875
409,649
389,452'
44,710
27,453
31,772
28,036
31,659
43,281
47,021
31,456
By type of issue
2 General obligation
3 Revenue
130,471
227,404
145,845
263,804
115,054'
274,397'
12,195
32,515
6,841
20,612
10,890
20,882
9,319
18,718
10,899'
20,760'
10,889
32,393
11,095
35,926
11,126
20,330
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
293,361'
67,833'
3,224
35,811
5,675
2,252
19,742
5,460
2,113
22,223
7,436
2,681
20,040
5,315
3,815
22,470
5,374
2,849
32,023
8,409
2,237
38,252
6,531
1,706
24,539
5,212
7 Issues for new capital
228,357
223,833
262,445r
34,182
22,496
19,687
20,996
19,331
23,619
34,532
13,549
65,426
20,546
9,242
n.a.
19,050
80,438
70,963
25,427
9,899
n.a.
18.646
60,646
70,260'
30,211'
7,791'
n.a.
34.989
72,684'
8,216
3,466
874
n.a.
4.148
11,607
4,451
2,688
799
n.a.
4.012
8,245
7,084
1,506
288
n.a.
2.302
6,124
5,988
1,857
1,035
n.a.
2.635
5,812
4,397
4,611
629
n.a.
2.257
3,971
5,861
2,783
814
n.a.
3.114
5,292
9,836
5,985
935
n.a.
6.316
5,728
4,205
1,046
158
n.a.
2.021
3,642
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
2006
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
2,070,680
2,438,989
2,710,028
251,880
279,027
132,531
207,338
263,451
202,721
260,310
272,056
1,923,094
2,323,735
2,590,863
239,524
269,135
125,606
202,072
252,866
192,906
242,944
260,467
1,737,342
185 752
2,141,496
182 238
2,318,379
272 483
213,104
26 420
241,092
28 043
119,315
6 291
178.107
23 964
231.267
21 600
173.165
19 740
190.990
51 954
241.053
19413
21,942
22,221
20,777
2,010
1,627
3,162
1.642
2.102
1.057
2.596
1,211
259,968
1,663,127
216,072
2,107,662
344,005
2,246,858
33,141
206,383
28,556
240,579
11,624
113,982
20,328
181,743
24,112
228,754
22,166
170,740
59,332
183,612
30,328
230,139
147,585
115,255
119,165
12,356
9,892
6,925
5,267
10,585
9,816
17,366
11,590
147,585
n.a.
115,255
n.a.
119,165
n.a.
12,356
n.a.
9,892
n.a.
6,925
n.a.
5,267
n.a.
10,585
n.a.
9,816
n.a.
17,366
n.a.
11,590
n.a.
64,345
83,240
54.713
60,541
56.029
63,136
6.008
6,348
5.341
4,551
1.990
4,934
2.029
3,238
3.710
6,875
3.976
5,839
7.469
9,897
5.414
6,175
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 • April 2007
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2006
Item
2005
2007
2006'
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.'
Feb.
1 Sales of own shares 2
1,755,210
2,017,116
134,662
150,952
142,528
175,165
160,846
180,876
230,667
199,392
2 Redemptions of own shares
1,563,022
192,188
1,789,399
227,717
130,809
3,853
139,022
11,930
130,701
11,827
150,428
24,737
141,223
19,623
160,476
20,400
182,782
47,885
154,244
45,148
6,864,286
8,058,864
7,235,158
7,395,128
7,517,825
7,768,801
7,971,400
8,058,864
8,214,520
8,210,284
302,923
6,561,363
338,921
7,719,943
340,109
6,895,049
356,042
7,039,086
353,939
7,163,886
352,610
7,416,191
353,702
7,617,698
338,921
7,719,943
363,938
7,850,582
356,185
7,854,099
4 Assets
4
5 Cash5
6 Other
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
2006
2005
Q2
Q3
Q4
Q1
Q2
Q3
Q4
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
1 736 2
639.5
498.2
598.5
1 521 9
575.2
455.6
491.1
1 547 5
590.7
451.0
505.8
1 622 4
601.8
479.2
541.4
1 634 7
591.3
482.8
560.6
1 672 2
602.9
497.4
572.0
1 711 3
628.5
490.3
592.6
1 736 2
639.5
498.2
598.5
53.0
26 3
44.7
24 5
49.6
23 9
51.6
24 2
45.4
26 6
44.7
24 5
44.4
23 5
45.3
23 5
48.4
24 7
49.6
23 9
1,414.7
673.8
1,553.2
535.7
1,662.7
479.9
1,446.1
664.6
1,475.5
537.4
1,553.2
535.7
1,566.8
527.6
1,603.4
499.6
1,638.2
479.4
1,662.7
479.9
2,088.5
2,088.8
2,142.6
2,110.7
2,012.9
2,088.8
2,094.4
2,103.0
2,117.5
2,142.6
136.9
175.3
142.1
160.0
126.8
164.1
129.9
148.8
138.8
146.0
142.1
160.0
137.4
151.0
137.5
152.7
125.1
164.0
126.8
164.1
257.7
817.4
471.8
229.4
312.2
806.5
423.6
244.4
338.1
854.7
432.7
226.3
260.0
865.1
457.2
249.7
271.0
753.8
497.2
206.2
312.2
806.5
423.6
244.4
318.3
813.3
426.7
247.8
326.6
834.6
414.7
236.9
333.0
830.0
422.4
243.2
338.1
854.7
432.7
226.3
2,088.5
2,088.8
2,142.6
2,110.7
2,012.9
2,088.8
2,094.4
2,103.0
2,117.5
2,142.6
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
Aug.
Sept.
Seasonally adjusted
1 Total
2
3
4
Consumer
Real estate
Business .
1,783.9
1,898.1
2,012.7
736.4
500.5
547.0
773.0
564.1
561.0
816.6
613.8
582.3
2,012.7
2,000.9'
807.0'
598.1
582.2
811.3'
601.9
584.4
809.2'
609.3
582.4
806.2'
611.2
579.0
2,001.6'
2,011.4'
811.7'
613.8'
579.0
816.6
613.8
582.3
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'
2,026.3
1,795.4
1,910.9
2,026.3
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
800.4'
264.9'
99.4
70.6
177.1
808.6
270.3
101.3
71.6
181.3
813.9'
270.4'
102.1
72.2
183.6
817.6
265.9
103.2
74.2
187.0
822.7'
260.9'
104.1
76.6'
192.2'
825.4
259.8
106.0
79.9
194.7
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
614.9
538.1
56.3
114.4'
3.8
14.9'
55.3'
602.0
525.1
55.2
109.5
3.8
15.4
55.6
609.5
532.7
55.2
110.1'
3.7
16.0
55.8'
612.7
536.3
55.3
112.8
3.7
15.9
54.8
618.9
542.3
55.7
115.4'
3.7
15.9
53.8'
623.7'
547.2'
55.8
112.8
3.6
15.9
52.8
614.9
538.1
56.3
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
17.5
4.2
574.6
103.4
16.8
56.4
30.2
292.9
102.1
190.8
93.5
17.3
4.3
574.4
102.7
16.9
55.1
30.7
293.1
101.5
191.6
94.4
17.2
3.9
574.9
102.3
17.0
54.6
30.7
294.1
101.6
192.5
94.1
17.1
3.8
575.0
102.2
16.9
54.4
30.8
293.7
101.3
192.4
94.0
16.9
3.8
578.0
102.4
16.9
54.3
31.2
294.8
101.5
193.3
93.8
16.8
3.7
586.0
105.1
17.1
55.7
32.3
299.5
102.4
197.1
93.5
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
33.8
2.5
31.2
33.7
2.6
31.0
16.3
10.4
5.9
34.7
16.2
10.3
5.9
34.3
33.6
2.5
31.0
.1
15.7
10.1
5.6
35.2
34.9
2.7
32.1
.1
15.2
9.7
5.6
35.0
36.9
2.8
34.0
.1
15.3
9.8
5.5
34.8
38.0
3.0
34.9
.1
15.4
9.9
5.5
34.6
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 reelassification 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
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 • April 2007
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2006
Item
2004
2005
2007
2006
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
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
343.1
248.9
74.8
29.5
.69
347.6
255.8
75.3
29.7
.76
349.7
257.7
75.7
29.7
.81
354.8
260.6
75.7
29.7
.75
348.6
255.8
74.9
29.3
.73
368.2
267.3
75.4
29.5
.80
361.9
270.3
76.3
29.5
.74
5.68
5.75
n.a.
5.86
5.93
n.a.
6.50
6.60
n.a.
6.77
6.87
n.a.
6.61
6.72
n.a.
6.57
6.69
n.a.
6.44
6.55
n.a.
6.26
6.37
n.a.
6.24
6.35
n.a.
6.20
6.31
n.a.
n.a.
5.19
n.a.
5.13
n.a.
5.70
n.a.
5.81
n.a.
5.63
n.a.
5.69
n.a.
5.52
n.a.
5.49
n.a.
5.60
n.a.
5.64
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.
726,811
n.a.
n.a.
725,534
n.a.
n.a.
720,959
n.a.
n.a.
717,438
n.a.
n.a.
724,400
n.a.
n.a.
721,442
n.a.
n.a.
712,145
n.a.
n.a.
14 Mortgage transactions purchased (during period)
262,646
146,641
196,017
15,927
20,180
13,045
13,902
19,606
9,659
10,359
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.
706,979
n.a.
n.a.
702,448
n.a.
n.a.
704,446
n.a.
n.a.
704,334
n.a.
n.a.
703,629
n.a.
n.a.
706,191
n.a.
n.a.
709,175
n.a.
n.a.
n.a.
365,148
n.a.
397,867
n.a.
360,023
n.a.
31,893
n.a.
30,584
n.a.
30,904
n.a.
28,395
n.a.
32,748
n.a.
36,709
n.a.
38,962
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
Q4
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-family1"
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
Q1
Q2
Q3
Q4"
12,761,210
13,050,000
13,315,070
9,368,870
10,672,100
12,133,840
7,168,933
555,697
1,510,655
133,586
8,237,910
609,099
1,683,373
141,718
9,367,860
680,072
1,937,991
147,914
9,367,860
680,072
1,937,991
147,914
9,598,815
694,128
1,994,452
150,450
9,841,300
704,192
2,061,007
154,715
10,037,040
716,013
2,137,661
159,284
10,199,330
731,039
2,221,260
163,440
3,387,175
2,256,037
1,346,908
104,901
763,579
40,649
870,194
702,784
77,895
88,884
632
260,944
4,403
38,556
203,946
14,039
3,925,678
2,595,318
1,568,000
119,294
863,467
44,557
1,057,036
874,518
87,445
94,475
598
273,324
4,998
40,453
214,085
13,788
4,394,767
2,956,572
1,774,348
140,121
994,513
47,590
1,152,732
954,974
98,168
98,974
616
285,463
4,585
42,440
224,258
14,180
4,394,767
2,956,572
1,774,348
140,121
994,513
47,590
1,152,732
954,974
98,168
98,974
616
285,463
4,585
42,440
224,258
14,180
4,505,599
3,024,873
1,803,974
145,471
1,026,978
48,450
1,192,401
990,190
100,112
101,423
676
288,325
4,632
42,822
226,545
14,326
4,648,130
3,131,845
1,870,924
147,213
1,063,861
49,847
1,221,013
1,013,538
102,197
104,582
696
295,271
4,747
43,852
231,991
14,681
4,730,229
3,181,309
1,876,172
150,081
1,103,880
51,176
1,249,133
1,035,677
103,468
109,222
767
299,787
4,821
44,521
235,534
14,911
4,781,105
3,402,429
2,052,963
160,137
1,137,154
52,176
1,074,535
870,164
95,517
108,115
740
304,141
4,893
45,167
238 947
15,134
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
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
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
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
561,008
27
27
0
76,448
12,918
11,374
48,945
3,212
5,023
1,625
3,398
0
0
0
0
0
5
0
255,006
219,279
35,727
54,640
3,215
51,425
61,481
20,396
41,085
804
804
5
0
255,006
219,279
35,727
54,640
3,215
51,425
61,481
20,396
41,085
804
804
555,813
32
32
0
73,575
12,976
11,451
45,954
3,193
4,626
1,396
3,231
0
0
0
0
0
6
1
1
4
0
254,989
219,262
35,727
55,233
3,250
51,983
62,935
20,878
42,057
787
787
255,016
219,289
35,727
56,674
3,335
53,339
63,704
21,133
42,571
787
787
255,000
219,273
35,727
57,774
3,399
54,375
64,077
21,257
42,820
770
770
254,997
219,270
35,727
59,897
3,524
56,373
65,847
21,844
44,003
770
770
0
0
0
968,384
610,740
66,623
291,021
0
1,003
1,003
4,965,892
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
1,423,719
1,013,876
73,001
336,841
0
938
938
5,786,344
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
2,109,389
1,587,305
89,503
432,581
0
835
835
5,786,344
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
2,109,389
1,587,305
89,503
432,581
0
835
835
5,940,037
403,170
368,757
34,413
1,375,148
1,356,020
19,128
1,972,793
1,893,881
78,912
0
0
0
0
0
2,187,627
1,648,750
91,333
447,545
0
1,298
1,298
6,084,226
405,435
370,469
34,966
1,400,955
1,381,468
19,487
2,005,027
1,924,826
80,201
0
0
0
0
0
2,270,996
1,713,815
93,513
463,668
0
1,813
1,813
6,249,902
409,725
374,228
35,497
1,436,525
1,416,544
19,981
2,042,818
1,961,105
81,713
0
0
0
0
0
2,357,727
1,776,595
96,269
484,863
0
3,107
3,107
6,438,241
410,651
374,517
36,135
1,472,294
1,451,815
20,479
2,079,074
1,995,911
83,163
0
0
0
0
0
2,473,115
1,843,346
102,550
527,219
0
3,107
3,107
987,055
758,520
79,426
122,682
26,428
1,226,710
982,293
84,260
132,129
28,028
1,397,730
1,137,842
88,193
142,448
29,247
1,397,730
1,137,842
88,193
142,448
29,247
1,436,395
1,171,200
89,456
146,004
29,736
1,470,915
1,201,350
89,811
149,404
30,350
1,511,678
1,233,682
91,241
155,763
30,992
1,534,714
1,248,531
93,376
160,878
31,929
23
4
4
15
0
239,433
219,867
19,566
49,307
2,901
46,406
60,270
27,274
32,996
990
990
4,457,509
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
3,106
49,687
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 • April 2007
1.55 TOTAL OUTSTANDING CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
Holder and type of credit
July
Aug.
Sept.
Seasonally adjusted
801,261
1,400,579'
2 Revolving . . .
3 Nonrevolving2
2,295,021'
2,400,139
826,602
1,468,419'
880,143
1,519,996
851,309'
1,505,760'
2,370,425'
2,373,694'
858,038
1,512,387'
861,207
1,512,488'
2,394,151'
2,400,139
866,499'
1,507,519'
877,212'
1,516,938'
880,143
1,519,996
Not seasonally adjusted
2,231,642'
2,326,010'
2,432,904
2,339,528r
2,368,028r
2,380,221r
2,382,023]
2,403,282'
2,432,904
704,270
492,346
215,384
98,363
91,271
57,938'
572,070
707,039
516,534
228,588
102,122
109,078
58,060'
604,589
741,213
534,354
236,333
103,151
95,544
56,177
666,131
701,261
512,586'
231,937
101,562
103,358
51,182'
637,641'
715,117
523,095'
234,020
102,417
104,811
51,653'
636,916'
710,502
526,168'
234,581
105,442
106,216
51,323'
645,990'
712,214
527,170'
234,698
104,590
95,420
51,215'
656,717'
725,248
529,730'
234,779
103,437
95,540
52,518'
662,030'
741,213
534,354
236,333
103,151
95,544
56,177
666,131
By major type of credit*
12 Revolving
13
Commercial banks
14 Finance companies
15
Credit unions
16 Federal government and Sallie Mae
17
Savings institutions
18
Nonfinancial business
19 Pools of securitized assets3
823,677
314,649
50,382
23,244
n.a.
27,905
11,740
395,757
849,821
311,204
66,307
24,688
n.a.
40,755
10,841
396,026
904,866
327,344
79,874
28,901
n.a.
42,459
7,198
419,090
845,836'
295,830
70,589
25,113
n.a.
42,031
6,651
405,623'
857,204
301,164
71,552
25,616
n.a.
42,643
6,737
409,492
859,813
298,860
72,157
25,920
n.a.
43,236
6,727
412,913
863,437'
298,182
74,246
26,797
n.a.
42,974
6,697
414,541'
879,769'
310,250
76,607
27,443
n.a.
42,721
6,799
415,950'
904,866
327,344
79,874
28,901
n.a.
42,459
7,198
419,090
20 Nonrevolving
21
Commercial banks
22
Finance companies
23
Credit unions
24 Federal government and Sallie Mae
25
Savings institutions
26
Nonfinancial business
27
Pools of securitized assets3
1,407,965'
389,621
441,964
192,140
98,363
63,366
46,198'
176,314
1,476,189'
395,835
450,226
203,900
102,122
68,323
47,219'
208,564
1,528,038
413,869
454,480
207,432
103,151
53,085
48,980
247,041
1,493,691'
405,431
441,997'
206,824
101,562
61,328
44,532'
232,018'
1,510,824'
413,954
451,543'
208,404
102,417
62,167
44,915'
227,424'
1,520,408'
411,642
454,011'
208,661
105,442
62,980
44,596'
233,077'
1,518,586'
414,032
452,924'
207,901
104,590
52,446
44,519'
242,176'
1,523,512'
414,998
453,123'
207,336
103,437
52,819
45,719'
246,080'
1,528,038
413,869
454,480
207,432
103,151
53,085
48,980
247,041
4 Total
5
6
7
8
9
10
11
By major holder
Commercial banks
Finance companies
Credit unions
Federal government and Sallie Mae . .
Savings institutions
Nonfinancial business
Pools of securitized assets3
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
2006
Item
2004
2005
2006
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
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
n.a.
n.a.
n.a.
n.a.
7.95
12.40
n.a.
n.a.
n.a.
n.a.
7.92
12.49
n.a.
n.a.
Credit card plan
3 All accounts
4 Accounts assessed interest
12.71
13.21
12.51
14.54
13.21
14.73
n.a.
n.a.
n.a.
n.a.
13.06
14.67
n.a.
n.a.
n.a.
n.a.
13.31
15.09
n.a.
n.a.
4.36
8 96
5.46
9 03
4.96
9 67
5.30
9 56
2.07
9 66
3.69
10 06
3.97
10 28
5.42
10 13
5.52
10 04
5.92
10 05
60.5
56 8
60.0
57 6
62.3
57 5
61.2
57 5
66.5
57 6
62.9
57 3
63.3
57 2
61.9
57 4
62.0
57 5
62.0
57 3
89
100
88
98
91
99
89
99
96
100
91
99
92
100
94
99
94
100
91
101
24,888
15,136
24,133
16,228
25,958
16,671
26,126
16,817
28,052
16,745
26,468
16,627
26,813
16,864
27,239
16,680
26,307
16,596
25,937
16,712
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
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Nonfinancial sectors
1,137.9
1,380.7
1,684.7
1,998.7
2,278.8
1,999.1
2,429.6
2,434.9
2,530.6
1,849.4
1,805.1
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
687.9
529.6
40.3
110.2
7.7
151.0
-57.9
257.1
.5
159.4
132.3
-106.6
15.7
867.7
731.6
36.8
91.7
7.5
112.6
-35.1
398.4
-2.4
137.6
158.3
-77.7
5.5
996.4
797.9
70.4
120.0
8.1
103.9
16.8
362.5
-.6
130.5
77.7
12.6
20.4
1,262.7
1,054.0
48.8
151.7
8.1
116.1
-7.9
307.3
-.4
194.8
59.9
136.9
45.1
1,448.8
1,128.4
72.9
241.3
6.2
94.3
5.8
26.5
-1.4
147.5
30.1
212.0
33.6
1,431.2
1,129.4
80.7
209.5
11.6
113.9
2.8
264.2
-.4
237.6
99.6
39.5
20.3
1,661.6
1,315.7
65.4
272.1
8.5
104.3
-89.9
368.1
.8
205.8
75.5
187.6
50.2
1,584.6
1,173.3
91.9
320.0
-.5
52.1
18.8
532.5
-1.0
73.9
211.0
263.7
71.9
1,303.4
1,021.5
53.9
217.6
10.4
56.5
16.8
-116.4
.2
163.1
204.5
128.5
92.1
1,211.2
908.6
43.6
243.4
15.5
149.4
-37.7
161.0
-1.0
176.4
143.6
155.4
-34.2
1,110.3
734.4
41.1
316.6
18.3
131.3
95.6
157.7
.5
298.6
322.3
143.5
73.3
1,017.5
631.5
58.5
310.7
16.8
107.3
15
16
17
18
19
20
21
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
649.9
387.9
215.2
162.2
10.5
105.7
-5.6
810.6
168.7
12.9
148.0
7.7
143.9
257.6
980.1
188.4
88.6
92.0
7.7
120.3
396.0
1,100.1
421.4
165.2
244.7
11.5
115.3
361.9
1,238.8
561.8
245.0
304.2
12.6
171.4
306.9
1,285.5
561.9
208.0
335.9
18.0
126.6
25.1
1,321.2
627.8
292.2
314.0
21.6
216.8
263.9
1,330.4
559.9
197.5
356.1
6.4
175.7
368.9
1,145.9
791.9
462.6
300.5
28.8
61.4
531.5
1,135.7
703.7
404.8
273.9
25.0
126.2
-116.1
928.4
560.1
275.5
260.8
23.8
156.6
160.0
838.0
958.0
604.6
319.8
33.6
262.1
158.2
22 Foreign net borrowing in United States
-13.7
92.9
31.7
123.5
84.7
84.5
84.7
113.3
117.2
114.8
427.2
357.6
23
24
25
26
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
15.8
-18.5
-7.3
-3.8
58.3
31.6
5.3
-2.3
12.9
28.7
-7.7
-2.1
62.8
61.8
2.5
-3.6
38.5
38.0
12.9
-4.6
10.0
84.4
-5.3
-4.6
78.5
8.5
5.2
-7.4
59.1
17.9
39.5
-3.1
68.3
50.6
7.6
-9.3
-53.2
147.8
28.2
-8.0
255.0
180.2
-5.3
-2.7
102.2
229.4
30.3
-4.3
27 Total domestic plus foreign
1,124.2
1,473.7
1,716.5
2,122.2
2,363.5
2,083.6
2,514.4
2,548.2
2,647.8
1,964.2
2,232.3
1 Total net borrowing by domestic nonfinancial sectors
Financial sectors
932.8
874.3
1,008.9
879.5
1,039.7
1,172.8
774.5
1,491.7
1,384.0
1,630.8
792.9
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
-27.4
304.1
338.5
271.1
18.7
25.5
2.2
-63.8
219.8
326.8
352.8
21.1
6.8
10.9
-52.9
243.7
330.5
455.3
-7.2
31.2
8.3
55.1
65.0
53.0
572.8
33.4
74.1
25.9
236.1
-84.2
134.8
686.5
9.3
44.3
12.9
301.5
-84.2
136.6
754.6
-44.1
87.4
20.9
243.5
-243.9
163.4
537.1
29.3
25.2
20.0
219.3
200.9
191.8
831.7
35.1
25.9
-13.0
261.4
144.8
327.3
601.1
9.7
16.7
23.0
308.5
314.3
306.1
685.5
-35.2
44.6
7.1
316.2
-191.1
280.7
399.9
-49.5
29.0
7.8
189.6
-31.3
238.6
573.5
24.4
-9.9
7.8
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
220.4
10.9
3.2
1.4
1.1
49.7
-23.4
2.0
2.0
219.8
326.8
181.9
66.2
27.2
-1.7
23.7
49.2
6.1
2.2
2.9
243.7
330.5
211.0
111.0
31.6
6.4
14.4
77.7
64.4
2.3
3.0
65.0
53.0
331.5
134.3
98.3
15.2
34.6
85.1
16.2
3.3
.4
-84.2
134.8
664.0
33.5
58.4
.1
128.1
47.1
49.4
3.1
2.3
-84.2
136.6
691.7
-26.9
91.6
-5.2
267.1
82.8
6.9
.3
.4
-243.9
163.4
721.5
-150.2
65.9
28.0
99.4
61.2
13.3
8.1
.6
200.9
191.8
806.2
202.2
1.8
-33.4
38.9
62.5
9.6
-.2
2.8
144.8
327.3
572.7
25.5
66.8
35.1
137.0
195.0
-24.7
6.8
1.3
314.3
306.1
621.8
63.4
56.5
6.5
83.7
52.3
41.2
2.0
2.4
-191.1
280.7
410.8
-53.3
32.8
5.0
210.3
399.9
-273.3
8.4
4.3
-31.3
238.6
522.8
109.0
47.5
-20.9
-12.3
28 Total net borrowing by financial sectors
36
Federal Reserve Bulletin Statistical Supplement • April 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
47 Total net borrowing, all sectors . . . .
48
49
50
51
52
53
54
55
56
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
Q2
Q3
Q4
Qi
Q2
Q3
Q4
2,057.0
2,348.0
2,725.4
3,001.7
3,403.2
3,256.4
3,288.8
4,039.9
4,031.8
3,595.0
3,025.2
3,566.5
-94.5
-5.1
642.1
122.8
600.3
-75.8
26.1
690.1
151.0
-63.5
257.1
547.2
159.4
516.7
-80.2
20.2
878.6
112.6
-75.1
398.4
571.9
137.6
642.3
-92.6
34.5
1,004.6
103.9
134.7
362.5
117.5
130.5
712.4
48.5
90.9
1,288.6
116.1
266.7
307.3
50.2
194.8
784.4
159.0
84.8
1,461.8
94.3
317.3
26.5
51.1
147.5
869.1
162.6
116.4
1,452.1
113.9
324.8
264.2
-80.9
237.6
645.1
74.0
38.1
1,681.6
104.3
188.5
368.1
393.5
205.8
925.1
262.2
72.9
1,571.6
52.1
348.4
532.5
471.1
73.9
862.7
281.0
79.2
1,326.5
56.5
272.0
-116.4
620.7
163.1
1,037.8
121.5
128.6
1,218.3
149.4
533.4
161.0
88.6
176.4
723.8
100.6
-8.0
1,118.1
131.3
387.4
157.7
207.8
298.6
1,125.2
198.2
59.1
1,025.2
107.3
Funds raised through mutual funds and corporate equities
57 Total net issues
303.2
227.4
427.2
364.6
107.5
112.3
-104.0
66.1
113.5
-171.4
-290.5
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
138.6
-42.0
118.0
62.5
288.6
66.4
-126.6
84.8
108.2
298.2
-152.6
-363.4
142.1
68.6
260.2
-126.9
-300.1
98.5
74.7
239.2
-305.6
-469.9
138.7
25.6
201.6
-144.5
-419.2
171.2
103.5
210.6
-390.6
-569.6
164.2
14.8
504.1
-445.7
-602.4
67.9
88.9
274.3
-524.7
-535.2
31.9
-21.4
234.1
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.
43.0
-277.2
-701.2
288.3
135.7
320.3
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
Q2
Q3
Q4
Q1
Q2
Q3
Q4
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
2,057.0
2,348.0
2,725.4
3,403.2
3,256.4
3,288.8
4,039.9
4,031.8
3,595.0
3,025.2
3,566.5
-104.1
-4.7
7.1
93.9
6.0
302.1
1,756.6
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
208.6
49.8
8.6
92.4
-33.8
171.4
50.6
25.8
-.8
86.2
9.5
430.5
1,746.1
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
188.4
103.7
23.8
28.4
-68.5
175.6
121.6
-3.2
1.5
58.3
-2.7
516.3
2,033.5
37.2
299.5
323.3
-43.0
8.6
10.6
126.0
51.2
67.0
180.6
69.2
11.2
6.0
-95.9
138.0
35.5
.7
236.5
330.5
217.5
122.7
25.7
79.6
94.8
319.9
209.5
31.1
11.5
64.5
3.3
772.9
1,908.9
51.2
582.2
548.0
20.3
.0
13.9
172.8
39.8
73.6
173.0
-.3
27.2
4.7
-124.9
116.6
11.0
3.8
46.2
53.0
332.6
214.8
87.9
-29.2
73.0
364.3
218.6
35.1
12.8
100.5
-2.7
815.6
2,223.4
26.4
646.6
498.5
142.2
-4.2
10.2
131.2
36.2
66.9
110.3
12.5
-2.8
7.7
-5.5
124.1
1.5
6.8
-65.4
134.8
644.9
117.2
66.9
82.3
415.3
279.1
36.2
14.0
92.2
-6.2
674.6
2,166.5
31.8
591.4
428.0
119.7
29.4
14.4
233.6
44.3
49.2
81.3
.7
-23.6
11.4
-118.5
127.3
3.7
3.5
-88.8
136.6
678.1
18.5
120.1
230.6
35.4
573.8
429.6
12.3
13.5
124.7
-6.3
826.2
1,888.9
56.9
649.2
514.9
174.8
-46.0
5.5
150.6
21.4
107.4
94.3
17.4
-54.5
8.1
12.7
83.8
-.8
7.1
-263.5
163.4
700.0
112.0
89.0
-215.3
149.8
499.6
346.4
65.2
14.6
72.5
.8
966.9
2,573.4
14.9
380.4
306.1
56.2
9.4
8.8
138.6
33.2
22.1
66.9
34.7
6.7
3.0
253.4
92.2
-3.3
4.8
145.3
191.8
769.0
256.6
20.8
238.2
-96.2
274.3
193.6
50.5
11.1
10.7
8.3
768.0
2,989.4
63.0
876.8
792.5
73.4
6.8
4.1
82.1
55.5
60.1
134.1
7.5
-9.1
5.4
76.9
238.3
9.7
3.0
64.7
327.3
560.1
98.1
40.5
-16.5
312.0
51.3
-79.2
53.9
8.3
61.5
6.8
824.7
2,719.0
35.3
813.7
654.6
175.3
-8.0
-8.2
142.4
36.5
48.3
81.1
48.0
59.4
17.8
148.9
156.7
19.1
9.1
144.8
306.1
603.2
65.4
57.7
53.9
-128.5
85.1
72.0
-41.8
9.5
49.7
-4.3
697.7
2,242.4
20.3
120.4
14.7
102.4
6.6
-3.3
260.0
28.6
31.8
33.2
38.9
7.9
7.7
375.9
135.2
-5.0
2.8
-80.5
280.7
378.0
160.8
44.5
156.4
244.7
-6.0
-191.8
38.5
10.9
129.1
7.5
1,012.4
2,560.1
20.3
1,449.1
1,373.3
75.4
8.0
-7.5
-876.8
43.8
53.2
90.1
46.8
19.9
2.7
279.1
190.4
5.6
7.9
9.8
238.6
485.6
48.6
61.0
230.8
153.5
2,057.0
2,348.0
2,725.4
3,001.7
3,403.2
3,256.4
3,288.8
4.3
.0
1.3
6.8
-28.0
156.8
314.6
68.5
428.5
23.7
98.3
204.9
-84.3
3.1
77.2
254.0
14.4
-23.4
764.3
3.2
.0
1.0
21.0
17.4
-8.3
325.4
50.0
-16.7
106.6
46.4
181.1
87.9
-87.0
60.1
186.5
22.2
-82.6
546.2
-.9
.0
.6
36.6
-14.2
80.1
305.8
61.8
-207.5
227.2
138.6
288.6
23.7
132.5
66.8
200.3
-1.1
27.2
554.2
-3.2
.0
.7
89.9
19.2
89.8
282.9
246.6
-136.5
83.2
66.4
298.2
179.5
166.6
33.1
241.4
28.5
-5.6
1,625.6
-9.6
.0
.8
86.8
.9
3.2
314.9
271.1
127.0
352.6
-152.6
260.2
234.0
.3
16.1
152.6
26.4
-60.8
724.8
2.8
.0
1.1
-210.5
73.1
-31.6
259.9
251.1
11.7
387.9
-126.9
239.2
261.4
73.1
18.1
160.9
6.1
-71.6
1,458.4
-7.2
.0
.9
91.2
-36.7
-44.4
482.8
376.1
216.7
298.3
-305.6
201.6
298.2
20.8
20.0
136.8
13.4
-77.9
1,030.8
-19.5
.0
.3
46.6
-34.4
44.7
283.9
193.7
351.4
163.7
-144.5
210.6
167.2
-96.4
10.9
223.5
50.0
-59.9
61.5
-2.3
.0
.6
229.1
-13.5
67.9
227.6
375.5
133.1
521.2
-390.6
504.1
129.4
212.3
3.3
62.8
29.4
-48.8
1,037.0
2.0
.0
.8
230.2
-131.9
21.9
304.7
300.0
222.6
239.1
-445.7
274.3
254.6
194.1
19.2
167.2
-5.9
-41.1
1,078.6
-4.2
.0
1.0
-36.5
-25.4
-87.6
262.5
390.0
438.5
615.2
-524.7
234.1
46.0
178.3
12.4
154.4
20.8
-.5
1,654.7
6.3
.0
.0
96.1
81.6
-58.3
579.6
30.3
428.6
574.9
-277.2
320.3
133.2
262.2
21.7
232.0
28.6
-56.7
935.8
4,341.9
3,808.3
4,645.5
6,307.9
5,751.9
6,020.9
6,004.7
5,493.0
7,109.8
6,279.6
6,354.2
6,905.6
-12.9
17.2
-51.2
20.1
-219.9
-.6
21.5
7.2
36.0
2.3
-55.5
-.3
53.5
-4.4
-24.0
-42.6
-72.7
-.3
62.0
15.0
-139.3
-14.5
221.9
.7
48.2
9.6
128.0
-28.2
-87.3
.8
-243.3
-37.4
162.5
-23.5
434.3
1.7
22.1
1.4
-128.1
9.4
-292.9
-.1
29.2
41.0
55.2
-11.7
216.1
-4.8
221.3
25.3
306.1
-89.9
-390.5
248.2
10.1
244.4
-18.0
-275.3
.6
44.8
-8.8
289.5
3.3
-67.3
-.6
13.7
-77.5
596.6
-46.3
-52.1
-1.6
-.7
165.8
-8.9
.0
39.2
27.9
7.7
-6.6
-.1
-22.1
-11.9
-.3
33.4
23.0
.5
-53.0
-18.7
.0
-128.4
4.3
.0
75.1
-15.6
.1
-30.0
35.3
-.1
-124.8
-35.8
.0
-72.4
3,633.8
4,705.7
6,127.8
5,709.6
5,706.3
6,420.7
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 .. .
5.7
-.5
4,575.3
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.
6,115.5
38
1.59
Federal Reserve Bulletin Statistical Supplement • April 2007
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
2005
Transaction category or sector
2002
2003
2004
2006
2005
Q2
Q3
Q4
Ql
Q2
Q3
Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
20,592.8
22,310.0
24,323.5
26,602.3
25,316.8
25,940.4
26,602.3
27,178.1
27,642.3
28,110.3
28,699.4
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
119.9
3 609 8
27.3
1,762.9
2,710.3
1,132.8
949.9
8 267 7
6.371.1
464.0
1.307.1
125.5
2.012.2
84.8
4 008 2
24.9
1,900.5
2,868.6
1,087.5
955.4
9,264.1
7,169.0
534.3
1.427.1
133.6
2,116.1
101.6
4 370 7
24.3
2,031.0
2,946.3
1,100.1
975.8
10,541.5
8,237.9
583.1
1.578.8
141.7
2.232.2
93.8
4,678.0
23.8
2,225.8
3,006.2
1,237.0
1,020.9
11,990.4
9,366.2
656.1
1.820.1
147.9
2.326.5
114.4
4,493.1
23.7
2,134.2
2,962.4
1,170.6
1,008.2
11,169.3
8,736.1
616.7
1.670.2
146.3
2.240.8
119.6
4,566.0
23.6
2,176.1
2,987.3
1,183.8
1,000.6
11,594.1
9,077.0
633.1
1,735.7
148.4
2.289.2
93.8
4,678.0
23.8
2,225.8
3,006.2
1,237.0
1,020.9
11,990.4
9,366.2
656.1
1.820.1
147.9
2.326.5
100.4
4,834.4
23.6
2,254.2
3,058.9
1,293.0
1,028.6
12,288.6
9,598.8
669.5
1.869.8
150.5
2.296.4
115.4
4,759.6
23.6
2,305.6
3,110.1
1,325.0
1,063.5
12,610.4
9,841.3
680.5
1.933.9
154.7
2.329.3
114.2
4,803.2
23.4
2,332.6
3,146.0
1,368.4
1,040.6
12,896.8
10,036.7
690.7
2.010.1
159.3
2.385.1
117.1
4,861.7
23.5
2,403.7
3,226.6
1,409.7
1,068.3
13,151.0
10,190.2
705.3
2.092.2
163.2
2.437.7
15
16
17
18
19
20
21
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
8.460.0
7,048.5
4,742.0
2,106.7
199.8
1,447.3
3,637.0
9,450.3
7,259.1
4,852.7
2,198.8
207.6
1,567.6
4,033.1
10.565.1
7,680.5
5,018.0
2,443.4
219.1
1,682.8
4,395.0
11.803.9
8,242.3
5,263.0
2,747.6
231.7
1,854.2
4,701.9
11.079.5
7,944.9
5,140.4
2,580.4
224.1
1,775.5
4,516.8
11.453.5
8,083.7
5,195.3
2,657.6
230.8
1,813.6
4,589.6
11.803.9
8,242.3
5,263.0
2,747.6
231.7
1,854.2
4,701.9
12.017.8
8,422.1
5,364.5
2,822.8
234.8
1,880.2
4,858.0
12.310.3
8,627.1
5,491.3
2,891.5
244.3
1,921.7
4,783.2
12.588.4
8,750.1
5,542.9
2,955.4
251.9
1,945.2
4,826.6
12.815.9
8,992.4
5,696.6
3,036.4
259.5
2,005.8
4,885.3
22 Foreign credit market debt held in
United States
1,072.3
1,244.5
1,424.8
1,466.0
1,462.0
1,482.6
1,466.0
1,498.9
1,522.0
1,628.6
1,720.3
254.2
705.2
68.6
44.3
267.1
874.4
60.9
42.2
329.9
993.0
63.3
38.6
368.4
987.5
76.2
34.0
336.2
1.024.4
65.0
36.4
355.0
1.026.5
66.3
34.7
368.4
987.5
76.2
34.0
389.0
1.000.2
78.1
31.6
370.1
1.037.1
85.1
29.7
433.6
1.082.2
83.8
29.0
461.4
1.139.5
91.4
27.9
21,665.2
23,554.5
25,748.2
28,068.3
26,778.8
27,423.0
28,068.3
28,676.9
29,164.4
29,738.9
30,419.6
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
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
10,057.3
11,052.2
11,946.6
12,931.8
12,384.9
12,494.7
12,931.8
13,246.0
13,650.4
13,835.6
14,129.3
1.133.5
2,350.4
1.080.5
2,594.1
1.135.7
2,659.2
1.371.8
2,575.0
1.218.0
2,585.7
1.269.5
2,524.8
1.371.8
2,575.0
1,411.9
2,611.2
1.475.4
2,689.8
1.542.6
2,642.0
1.637.4
2,634.2
3,158.6
2 705 2
142.8
470.5
96.4
3,489.1
3,146.4
135.6
501.7
104.7
3,542.2
3,734.1
169.0
575.8
130.6
3,677.0
4,366.1
178.3
620.1
143.5
3,567.9
4,096.4
163.3
611.9
141.8
3,616.6
4,148.8
173.8
614.5
146.7
3,677.0
4,366.1
178.3
620.1
143.5
3,752.4
4,528.1
176.3
616.9
149.2
3,813.2
4,706.5
172.9
641.5
151.0
3,892.2
4,797.9
164.3
643.7
153.0
3,965.1
4,931.9
165.6
640.2
154.9
325.5
286.4
262.3
6.9
5.1
2.350.4
3,158.6
1,878.4
40.6
884.3
198.4
660.4
339.3
321.8
268.3
9.1
8.0
2.594.1
3,489.1
2,075.3
47.0
995.3
230.0
674.8
357.5
381.3
332.8
11.4
11.1
2.659.2
3,542.2
2,406.9
62.2
1.129.6
343.2
709.4
394.3
429.5
348.9
14.7
11.5
2.575.0
3,677.0
3,070.9
62.4
1.108.6
401.5
837.5
383.4
408.6
344.1
12.5
11.2
2.585.7
3,567.9
2,688.4
63.7
1.143.9
384.6
790.7
389.1
421.5
344.3
12.6
11.3
2.524.8
3,616.6
2,860.9
70.7
1.038.6
401.1
803.2
394.3
429.5
348.9
14.7
11.5
2.575.0
3,677.0
3,070.9
62.4
1.108.6
401.5
837.5
398.4
438.7
343.0
14.6
12.2
2.611.2
3,752.4
3,209.9
71.1
1,101.7
418.2
874.6
422.6
467.0
346.5
16.3
12.5
2.689.8
3,813.2
3,370.4
72.8
1.124.8
432.4
882.1
424.1
476.2
354.0
16.8
13.1
2.642.0
3,892.2
3,464.3
74.0
1,119.0
440.5
919.3
498.2
499.7
287.1
18.9
14.2
2.634.2
3,965.1
3,602.9
68.8
1.145.5
452.4
942.2
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
31,722.5
34,606.6
37,694.8
41,000.1
39,163.6
39,917.7
41,000.1
41,922.9
42,814.8
43,574.5
44,548.9
1 507 6
3.609.8
5,536.3
1,762.9
6,120.7
1,344.2
1.464.7
8 364 1
2.012.2
1,432.5
4,008.2
6,108.1
1,900.5
6,889.4
1,283.9
1.499.2
9,368.7
2,116.1
1,567.2
4,370.7
6,225.6
2,031.0
7,673.4
1,332.4
1.590.2
10,672.1
2,232.2
1,833.9
4,678.0
6,275.8
2,225.8
8,359.9
1,491.4
1.675.0
12,133.8
2,326.5
1,668.5
4,493.1
6,177.3
2,134.2
8,083.1
1,398.9
1.656.5
11,311.0
2,240.8
1,744.1
4,566.0
6,165.0
2,176.1
8,162.6
1,423.9
1.649.8
11,740.8
2,289.2
1,833.9
4,678.0
6,275.8
2,225.8
8,359.9
1,491.4
1.675.0
12,133.8
2,326.5
1,901.3
4,834.4
6,387.2
2,254.2
8,587.2
1,547.3
1.677.1
12,437.8
2,296.4
1,960.9
4,759.6
6,526.6
2,305.6
8,853.7
1,583.0
1.734.7
12,761.4
2,329.3
2,090.4
4,803.2
6,557.6
2,332.6
9,026.1
1,616.5
1.713.3
13,049.8
2,385.1
2,215.9
4,861.7
6,622.8
2,403.7
9,298.0
1,666.8
1.736.4
13,305.9
2,437.7
1. Data in this table appear in the Board's Z.I quarterly statistical release, tables L
through L.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction category or sector
Q2
Q3
Q4
Q1
Q2
Q3
Q4
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
31,722.5
34,606.6
37,694.8
41,000.1
39,163.6
39,917.7
41,000.1
41,922.9
42,814.8
43,574.5
44,548.9
3,889.1
2,191.8
269.4
72.4
1,067.4
288.2
3,736.8
24,096.5
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,166.6
465.4
558.3
2,307.8
577.3
638.7
57.6
1,567.1
1,368.4
117.1
3.7
2,323.2
3,158.6
1,789.9
1,082.3
71.7
344.4
254.1
4,274.9
2,523.6
266.3
73.9
1,125.6
285.6
4,169.3
26,162.4
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,292.6
516.6
625.2
2,488.3
646.5
649.9
63.6
1,471.3
1,506.4
152.6
4.5
2,559.7
3,489.1
1,993.4
1,205.0
97.5
424.1
348.8
4,607.5
2,745.8
297.3
85.4
1,190.2
288.8
4,981.1
28,106.1
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.4
698.8
2,661.4
646.1
677.1
68.2
1,346.3
1,623.0
163.6
8.2
2,605.9
3,542.2
2,326.0
1,419.8
200.1
394.9
421.8
5,037.1
3,029.7
332.4
98.1
1,290.7
286.1
5,639.7
30,323.3
744.2
7,189.6
6,408.2
648.3
32.2
101.0
1,616.6
592.6
765.8
2,765.4
658.6
674.3
76.0
1,340.8
1,747.1
165.1
15.0
2,540.5
3,677.0
2,970.9
1,537.1
267.0
477.2
502.6
4,715.1
2,799.7
294.7
91.1
1,244.9
284.6
5,351.2
29,097.3
724.7
6,909.7
6,178.8
592.1
41.4
97.4
1,550.2
579.0
733.4
2,733.2
645.6
686.2
73.2
1,245.1
1,697.3
166.2
12.0
2,571.2
3,567.9
2,603.1
1,441.7
239.5
457.3
460.8
4,758.8
2,792.1
310.2
94.5
1,273.7
288.3
5,557.3
29,601.6
736.4
7,084.1
6,327.3
628.2
29.9
98.8
1,588.8
585.9
760.3
2,760.6
649.9
672.6
75.2
1,241.8
1,719.6
166.0
13.8
2,503.2
3,616.6
2,770.2
1,465.2
261.8
432.0
497.8
5,037.1
3,029.7
332.4
98.1
1,290.7
286.1
5,639.7
30,323.3
744.2
7,189.6
6,408.2
648.3
32.2
101.0
1,616.6
592.6
765.8
2,765.4
658.6
674.3
76.0
1,340.8
1,747.1
165.1
15.0
2,540.5
3,677.0
2,970.9
1,537.1
267.0
477.2
502.6
5,104.8
3,092.3
329.8
100.9
1,293.9
287.9
5,825.1
30,993.0
758.5
7,366.0
6,560.7
669.5
33.9
102.0
1,648.8
604.1
780.8
2,803.0
660.5
672.0
77.3
1,347.7
1,805.6
167.6
15.7
2,545.2
3,752.4
3,106.8
1,543.0
277.1
497.2
563.6
5,133.4
3,093.5
337.3
103.0
1,312.8
286.9
6,041.0
31,640.3
766.4
7,586.6
6,741.8
713.0
31.9
99.9
1,679.5
615.6
792.9
2,821.6
672.5
686.9
81.8
1,370.9
1,839.8
172.3
18.0
2,595.2
3,813.2
3,262.7
1,574.4
291.6
470.0
528.4
5,129.0
3,069.4
340.0
105.4
1,323.0
291.2
6,213.4
32,232.1
768.9
7,632.3
6,769.7
729.9
33.6
99.1
1,744.5
624.5
800.8
2,833.3
682.2
688.8
83.7
1,452.9
1,874.7
171.1
18.7
2,571.7
3,892.2
3,348.3
1,609.2
302.7
537.3
594.3
5,139.0
3,029.1
357.7
108.1
1,353.4
290.7
6,465.4
32,944.4
778.9
8,001.4
7,113.7
754.9
35.6
97.2
1,518.5
633.7
814.1
2,850.1
693.9
693.8
84.4
1,561.0
1,927.2
172.5
20.7
2,575.2
3,965.1
3,477.6
1,630.3
317.9
583.3
644.7
41,922.9
42,814.8
43,574.5
44,548.9
46.0
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
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
41,000.1
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
8,068.0
2,460.2
241.4
11,981.5
62.3
2.2
26.0
867.8
193.3
1,432.0
4,001.7
1,232.8
2,016.4
1,567.5
4,654.2
871.3
1,013.2
9,672.7
2,483.9
240.4
12,446.8
62.2
2.2
26.7
957.7
212.2
1,521.8
4,284.6
1,504.9
1,879.8
1,650.7
5,436.3
1,037.9
1,060.4
10,636.8
2,663.4
268.9
13,899.3
45.9
54.3
27.5
1,044.5
214.6
1,525.0
4,599.4
1,776.0
2,006.9
2,003.3
6,048.9
1,038.2
1,082.6
11,176.7
2,897.4
295.3
14,011.8
27.2
1,010.0
207.6
1,514.6
4,408.5
1,637.1
1,831.5
1,911.3
5,595.7
1,064.5
1,067.2
10,666.5
2,771.8
287.8
14,129.1
52.0
2.2
27.4
1,032.9
204.3
1,481.9
4,523.7
1,738.0
1,876.7
1,983.9
5,874.4
1,068.0
1,077.7
10,954.2
2,852.5
295.5
13,896.3
45.9
2.2
27.5
1,044.5
214.6
1,525.0
4,599.4
1,776.0
2,006.9
2,003.3
6,048.9
1,038.2
1,082.6
11,176.7
2,897.4
295.3
14,011.8
46.0
2.2
27.6
1,101.8
198.1
1,508.6
4,688.7
1,876.1
2,014.1
2,127.7
6,464.0
1,105.2
1,091.6
11,393.8
2,929.2
310.7
13,847.8
48.3
2.2
27.8
1,159.3
156.3
1,538.5
4,733.0
1,949.0
2,067.4
2,221.8
6,419.7
1,147.9
1,092.6
11,271.4
2,989.1
310.7
13,860.4
46.5
2.2
28.1
1,150.2
151.3
1,491.9
4,792.8
2,053.9
2,166.5
2,373.6
6,628.6
1,191.0
1,102.0
11,583.1
3,006.0
319.8
14,002.3
28.1
1,174.2
192.4
1,510.9
4,943.0
2,050.0
2,312.5
2,490.9
7,093.4
1,249.9
1,119.1
12,191.7
3,041.4
313.5
13,699.6
52 Total liabilities
70,675.3
77,390.9
84,800.5
90,796.2
87,350.8
88,859.1
90,796.2
92,656.2
93,810.1
95,664.2
98,007.9
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
4,967.3
23.7
15,618.5
5,403.0
24.6
17,389.3
6,004.2
19.3
18,277.8
6,797.1
22.3
17,185.9
6,407.3
19.3
17,914.7
6,620.8
19.3
18,277.8
6,797.1
19.4
19,143.1
7,002.5
19.7
18,675.6
7,193.2
19.7
19,308.2
7,296.7
19.9
20,603.3
7,385.5
-9.1
652.5
15.5
426.6
126.3
-3,266.7
-9.5
705.9
12.6
402.6
69.2
-3,022.9
-9.7
767.9
27.3
258.8
97.0
-2,919.1
-9.1
816.1
38.5
386.8
94.9
-3,465.5
-9.4
803.3
23.3
427.7
97.2
-3,147.7
-9.0
808.8
27.5
413.4
80.6
-3,513.2
-9.1
816.1
38.5
386.8
94.9
-3,465.5
-10.3
871.4
44.0
462.1
92.3
3,684.0
-10.2
933.5
44.4
549.0
73.2
-3,908.3
-10.0
944.7
45.5
641.8
55.4
-4,118.1
-10.2
948.1
25.9
745.9
49.5
-4,695.7
-11.7
20.9
25.3
-17.9
20.8
64.6
11.2
20.6
72.2
20.6
50.1
1.7
19.6
-19.9
12.4
-11.2
20.6
50.1
1.5
16.4
-9.3
1.5
19.7
-53.9
2.7
12.4
-63.3
20.6
15.3
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
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
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.
117,956.0
121,037.0 122,049.7 124,777.8 128,917.1
2. Excludes corporate equities and mutual fund shares.
40
Federal Reserve Bulletin Statistical Supplement • April 2007
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2006
2007
2006
2007
2006
2007
Series
Q2
Q3
Q4'
Q1
Output (2002=100)
Q2
Q3
Q4
Q1
Capacity (percent of 2002 output)
Q2
Q3
Q4'
Q1
Capacity utilization rate (percent)2
1 Total industry
111.2
112.3
111.9
112.3
135.7
136.5
137.3
138.0
82.0
82.3
81.5
81.4
2 Manufacturing
3
Manufacturing (NAICS)
113.0
113.9
114.2
115.2
113.7
114.6
114.1
115.0
140.2
141.6
141.1
142.6
141.9
143.5
142.8
144.3
80.6
80.4
80.9
80.8
80.1
79.9
79.9
79.7
4
5
120.6
116.4
122.2
114.3
121.7
105.3
121.9
108.3
152.1
129.4
153.6
128.7
155.1
128.0
156.6
127.8
79.3
89.9
79.5
88.8
78.5
82.2
77.8
84.8
109.0
115.0
166.3
110.4
120.4
174.3
110.0
119.5
180.3
109.8
117.2
182.5
136.4
145.6
218.5
136.8
146.6
225.8
137.2
147.6
233.2
137.6
148.7
241.4
79.9
79.0
76.1
80.7
82.1
77.2
80.2
80.9
77.3
79.7
78.8
75.6
106.3
103.8
106.8
101.2
105.9
100.1
106.5
97.9
124.5
133.4
125.1
133.8
125.6
134.0
126.2
133.4
85.3
77.8
85.4
75.6
84.3
74.7
84.4
73.4
121.2
106.5
109.2
93.9
124.8
107.6
109.5
92.6
127.5
106.8
111.4
89.0
131.0
107.5
113.3
87.6
159.8
130.3
134.4
119.1
160.8
130.6
135.0
118.3
161.8
130.9
135.6
117.5
162.8
131.2
136.2
116.7
75.8
81.8
81.2
78.9
77.6
82.4
81.1
78.3
78.8
81.6
82.2
75.8
80.5
82.0
83.1
75.1
98.1
108.8
110.4
106.6
98.4
98.7
113.3
112.0
107.1
97.4
98.6
109.3
109.8
104.6
99.2
96.8
111.5
109.6
106.3
98.0
115.7
121.8
140.6
121.2
116.8
115.5
121.6
140.9
122.3
117.0
115.3
121.3
141.2
123.4
117.3
115.1
120.9
141.6
124.4
117.6
84.8
89.3
78.5
87.9
84.3
85.4
93.1
79.5
87.5
83.2
85.5
90.1
77.7
84.8
84.6
84.1
92.2
77.5
85.4
83.3
20 Mining
21 Electric and gas utilities
100.5
106.1
100.6
107.3
101.4
106.4
101.1
107.7
110.4
123.6
110.7
124.3
111.0
125.1
111.3
125.7
91.0
85.9
90.9
86.4
91.3
85.0
90.8
85.6
MEMOS
22 Computers, communications equipment, and
semiconductors
192.7
204.8
216.4
222.7
249.5
260.2
271.4
284.0
77.2
78.7
79.7
78.4
23 Total excluding computers, communications
equipment, and semiconductors
107.7
108.5
107.8
108.0
130.8
131.3
131.8
132.1
82.3
82.6
81.8
81.7
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
108.7
109.5
108.6
108.8
134.3
134.8
135.2
135.6
80.9
81.3
80.3
80.2
6
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
Paper
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Selected Measures 41
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION' —CONTINUED
Seasonally adjusted
1973
1975
Previous cycle2
High
Low
High
Latest cycle3
2007
2006
2006
Series
Low
High
Low
Mar.
Oct.
Nov.
Dec'
Jan.'
Feb.'
Mar.'
Capacity ut lization rate (percent)4
1 Total Industry
88.9
74.0
86.5
70.8
85.0
78.5
81.4
81.7
81.3
81.6
81.1
81.6
81.4
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
80.1
79.8
80.1
79.8
79.8
79.5
80.5
80.3
79.8
79.6
79.7
79.5
80.1
79.9
89.4
101.9
69.6
69.6
86.7
90.5
62.9
47.0
84.5
93.8
73.3
74.6
78.5
86.1
78.4
85.2
78.2
81.1
78.9
80.4
77.8
84.4
77.6
84.7
78.1
85.3
91.6
94.6
69.7
74.5
82.8
92.7
61.8
58.0
81.6
85.2
72.6
73.9
79.4
78.6
80.6
80.2
80.0
79.7
79.9
82.9
79.6
79.0
79.7
78.4
80.0
79.0
86.9
66.0
89.9
76.9
81.4
75.9
74.4
77.7
77.2
77.1
75.9
75.2
75.8
99.3
95.6
67.9
54.6
91.9
95.2
64.6
44.9
89.1
89.7
77.0
56.0
84.6
78.3
84.1
72.6
83.6
75.1
85.1
76.4
84.4
72.1
84.4
73.9
84.3
74.2
75.9
87.6
67.9
72.3
87.0
85.8
69.0
75.6
87.1
86.8
81.1
81.6
73.6
81.5
78.2
81.6
78.9
81.2
79.2
82.0
80.6
81.9
80.5
81.9
80.3
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
81.5
79.1
81.7
76.3
82.3
75.4
82.6
75.5
82.7
74.9
83.1
75.3
83.6
75.0
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
83.9
89.0
78.0
87.6
83.9
85.2
90.9
78.0
84.8
85.0
84.9
89.5
77.1
84.1
84.7
86.4
89.9
78.2
85.3
84.0
83.7
93.2
77.4
85.7
83.3
84.1
91.7
77.3
85.0
83.3
84.4
91.7
77.7
85.5
83.4
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
89.4
85.7
91.0
88.0
90.7
85.4
92.3
81.8
90.7
83.6
90.9
89.8
90.9
83.5
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.3
62.3
89.6
74.6
80.8
74.2
75.5
80.1
79.6
79.4
78.4
77.8
79.0
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.6
85.4
78.7
81.8
82.0
81.5
81.9
81.4
82.0
81.7
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.4
68.1
85.9
77.2
80.5
80.3
80.0
80.7
80.1
80.1
80.4
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.
aiuc ui me i1 tact Hi i\.cjct vt utiLLtitn.
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 • April 2007
2.13
INDUSTRIAL PRODUCTION
Indexes and Gross Value1
Monthly data seasonally adjusted
Group
2002
proportion
Apr.
Aug.
Sept.
Nov.
Dec.
Feb.'
MarJ
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
110.0
110.9
110.9
111.9
112.3
112.5
112.2
112.0
111.5
112.2
111.8
112.7
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
10.2
06.7
06.8
02.3
62.0
06.4
07.3
06.5
06.7
08.9
79.0
09.2
99.8
06.5
111.0
106.8
107.0
101.2
176.6
106.7
108.0
106.6
107.7
109.7
80.2
110.1
101.7
103.8
110.8
106.4
106.0
99.9
174.3
106.0
107.6
106.4
106.7
108.6
79.9
109.1
100.8
105.8
111.9
107.6
107.4
102.8
177.0
104.5
107.9
107.6
107.1
108.3
80.3
110.7
101.6
109.3
112.2
107.4
105.1
97.9
172.4
104.2
109.1
108.1
107.9
109.1
81.0
111.6
101.6
109.0
112.5
107.8
106.2
99.6
168.2
105.4
109.5
108.2
107.7
108.7
79.5
112.4
101.0
109.8
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
112.1
107.8
103.1
95.2
183.9
100.5
107.6
109.3
109.7
112.4
80.2
111.4
102.8
108.4
113.2
109.6
104.9
98.7
198.3
100.2
106.5
111.0
110.2
113.1
79.6
111.4
104.3
114.2
112.9
108.9
105.5
99.1
210.9
99.5
106.9
109.9
110.9
113.8
78.9
112.2
104.8
107.2
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
21.6
34.7
30.5
12.3
09.9
124.6
136.9
135.2
114.7
111.5
124.8
136.6
137.6
114.0
111.8
126.4
139.0
139.8
115.0
112.6
128.1
140.7
140.3
117.4
113.8
128.6
141.2
139.5
118.4
113.0
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
129.2
144.7
144.2
116.2
113.8
129.6
144.6
145.6
116.3
113.3
130.6
144.9
147.1
117.3
111.0
21
22
Construction supplies
Business supplies
4.3
11.2
110.4
110.3
11.4
09.4
111.6
110.1
111.1
109.9
111.1
110.8
111.6
111.2
111.3
111.5
110.3
110.8
108.4
111.9
107.4
110.5
109.7
110.3
108.6
110.1
107.8
110.9
109.0
110.2
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
09.6
14.3
21.4
02.1
51.4
09.8
03.3
88.3
99.6
08.5
98.5
110.9
115.7
123.4
104.2
154.7
110.9
104.1
87.7
100.0
109.2
99.4
111.0
115.6
123.3
101.4
155.7
111.3
103.9
87.0
99.7
110.0
100.2
111.9
116.4
124.3
102.2
158.0
111.6
104.4
86.9
100.3
110.3
101.1
112.5
117.0
125.2
100.2
163.0
111.4
104.6
87.2
100.6
111.1
101.7
112.6
117.6
125.9
101.1
166.6
110.6
104.9
86.7
100.8
111.7
100.9
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
116.0
124.8
96.9
170.0
108.4
102.9
81.2
100.1
108.2
100.1
111.9
116.0
124.5
96.7
169.2
108.5
103.0
82.0
100.9
108.2
102.4
111.9
116.9
125.8
97.2
171.6
109.4
103.6
81.9
101.5
108.9
100.1
94.8
92.5
107.5
111.7
06.8
10.3
107.6
111.4
107.4
111.4
108.3
112.3
108.6
113.1
108.7
113.2
108.2
112.9
107.9
113.0
107.4
112.2
108.0
112.9
107.5
112.8
108.4
113.6
108.0
113.4
SPECIAL AGGREGATES
34 Total excluding computers, communication
equipment, and semiconductors
35 Total excluding motor vehicles and parts . .
Gross value (billions of 2000 dollars, annual rates)
36 Final products and nonindustrial
supplies
37 Final products
38
Consumer goods
39
Equipment total .
Nonindustrial supplies .
3,043.0
43.4
31.1
12.3
15.5
3,069.2
3,033.3
3,070.6
3,073.9
3,087.3
3,071.6
2,302.3 2,286.9 2,291.3 2,292.3 2,323.9 2,321.8 2,331.2 2,329.3 2,309.1 2,320.0 2,335.4 2,322.7 2,348.5 2,337.7
1,606.0 1,606.4 1,598.3 1,599.7 1,625.7 1,614.1 1,623.0 1,621.7 1,604.4 1,612.1 1,615.5 1,618.1 1,642.4 1,631.2
715.5
716.5
702.7
702.2
732.2
706.0
687.9
707.1
718.5
718.6
718.1
715.6
718.9
715.0
741.1
739.0
742.2
741.4
745.9
749.2
749.8
745.2
746.5
734.7
737.5
735.9
740.2
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.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.'
Jan.'
Feb.'
Mar.'
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
111.7
112.6
112.8
113.7
112.6
113.5
113.5
114.5
113.9
114.9
114.3
115.4
114.3
115.3
113.4
114.3
113.2
114.1
114.4
115.4
113.7
114.7
113.8
114.8
114.6
115.6
321
43.4
1.5
120.4
107.5
118.5
112.9
120.3
111.3
120.1
111.1
121.3
109.3
121.7
109.3
122.6
107.4
122.2
104.8
121.2
100.4
121.3
98.0
122.7
100.3
121.4
98.4
121.6
98.1
122.6
96.8
327
331
332
333
2.3
2.3
5.8
5.3
112.5
112.1
108.9
117.1
114.1
111.8
108.1
114.0
114.5
114.3
109.4
116.2
113.3
117.1
108.4
114.1
114.0
117.7
109.1
114.8
113.4
115.7
109.9
119.6
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
111.0
107.7
109.4
117.2
107.4
108.2
109.7
116.6
110.6
109.1
110.2
117.7
334
8.0
169.1
158.9
164.0
165.8
169.1
171.6
174.0
177.2
179.3
180.0
181.7
181.1
181.5
185.1
335
3361-3
2.2
7.5
105.8
101.9
105.1
104.3
106.6
104.3
106.7
102.5
105.6
104.6
107.6
100.3
107.6
102.2
105.1
100.9
105.5
97.3
105.1
100.7
107.1
102.4
106.3
96.5
106.5
98.6
106.6
98.7
3364-9
3.6
122.4
117.3
120.1
120.9
122.4
124.5
124.6
125.2
126.3
127.7
128.3
130.9
131.1
131.0
337
339
1.8
3.3
104.7
116.9
104.9
114.8
105.5
115.9
106.4
115.7
106.6
116.5
104.9
116.9
106.4
118.1
104.7
118.0
104.2
118.8
103.4
120.0
102.7
121.0
101.9
120.3
100.9
120.5
100.2
122.5
35.6
106.7
105.9
106.3
106.1
107.0
107.4
107.5
107.8
106.7
106.2
107.4
107.4
107.4
107.9
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
109.2
94.7
80.3
97.2
102.3
110.2
94.3
81.4
97.6
103.9
108.7
93.8
81.2
97.8
102.7
108.6
93.5
81.4
99.0
103.0
109.4
93.6
82.3
98.0
102.7
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
112.5
87.6
80.9
96.4
105.7
113.3
87.9
80.4
96.8
106.2
114.1
87.3
79.8
97.2
106.0
324
325
1.8
10.8
110.3
110.3
108.4
109.4
105.3
110.1
108.9
110.0
112.3
111.1
111.7
111.8
112.8
112.4
115.3
111.7
110.4
110.1
108.5
108.8
108.9
110.5
112.8
109.5
110.9
109.4
110.8
110.1
326
3.8
105.7
105.6
106.9
105.9
106.9
108.1
107.1
106.1
104.4
103.9
105.6
106.4
105.7
106.7
1133,5111
4.9
98.0
97.8
99.0
98.0
98.1
98.1
97.0
97.2
99.6
99.4
98.7
97.9
98.0
98.1
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
100.2
105.2
108.0
91.7
98.6
105.5
107.9
94.6
99.7
105.3
108.0
93.1
100.7
105.7
108.5
93.0
101.1
107.4
109.7
97.0
101.0
108.7
111.1
97.7
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
100.9
105.0
107.7
92.5
101.2
113.0
114.0
108.0
101.3
105.1
107.8
92.1
78.7
108.6
107.8
108.7
108.3
109.2
109.5
109.7
109.4
108.4
108.2
109.3
108.6
108.6
109.1
76.4
113.9
112.3
113.5
113.4
114.3
115.1
115.3
115.4
114.8
114.3
115.4
115.2
115.1
115.9
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 annual revision will be described in an upcoming
issue of the Federal Reserve Bulletin.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • April 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
-665,286
-611,296
1,151,942
-1,763,238
27,592
33,635
123,867
-90,232
-6,043
-81,582
-791,508
-716,730
1,275,245
-1,991,975
11,293
17,598
134,417
-116,819
-6,304
-86,072
-856,655
-765,267
1,436,816
-2,202,083
-7,266
-777
150,323
-151,100
-6,489
-84,122
Q4
Q1
Q2
Q3
Q4
-223,109
-194,774
331,165
-525,939
-2,159
-581
32,642
-33,223
-1,578
-26,176
-213,778
-191,646
343,445
-535,091
-2,587
-967
34,233
-35,200
-1,620
-19,545
-217,713
-193,633
354,951
-548,584
-2,220
-599
38,003
-38,602
-1,621
-21,860
-229,377
-201,399
364,947
-566,346
-5,480
-3,869
34,247
-38,116
-1,611
-22,498
-195,790
-178,591
373,472
-552,063
3,021
4,658
43,840
-39,182
-1,637
-20,220
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
1,710
1,570
835
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
-81
5,050
-173
-67
729
-149
-51
-351
-158
1,006
0
-54
1,275
-215
1,415
0
-51
1,678
-212
-872,317
-361,623
-120,017
-146,549
-244,128
-446,436
-213,018
-44,221
-180,125
-9,072
-1,053,353
-482,372
-44,434
-277,691
-248,856
-15,911
10,368
-4,812
-47,266
25,799
-358,216
-196,407
-46,190
-53,692
-61,927
-213,174
-80,697
-31,199
-53,915
-47,363
-228,464
-84,582
-24,096
-54,391
-65,395
-253,499
-120,686
57,051
-115,693
-74,171
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
387,809
263,338
41,662
-139
69,245
13,703
199,495
71,749
84,701
-488
24,275
19,258
300,510
118,344
125,450
3,274
19,550
33,892
71,934
37,418
23,786
-255
5,078
5,907
75,697
42,156
24,063
37
-821
10,262
75,869
-8,905
30,458
724
42,241
11,351
78,434
45,044
32,934
1,153
-7,470
6,773
70,510
40,049
37,995
1,360
-14,400
5,506
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
1,062,412
336,740
93,250
102,940
14,827
381,493
133,162
1,012,755
179,849
30,105
199,491
19,416
474,140
109,754
1,464,399
441,178
176,509
29,417
12,570
621,154
183,571
181,416
2,141
-50,305
62,041
9,158
131,871
26,510
452,226
148,851
74,953
-5,212
1,932
186,009
45,693
289,674
79,586
25,082
9,784
1,127
127,285
46,810
377,164
86,017
70,331
-4,899
1,129
162,953
61,633
345,335
126,724
6,143
29,744
8,382
144,907
29,435
-2,261
85,128
-4,351
10,410
-3,914
141,419
-514
-19,071
9,219
-28,291
-1,756
44,265
11,268
32,997
-1,003
65,142
-2,827
67,968
-551
218
-13,702
13,920
-604
31,798
5,263
26,535
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
4,796
513
-560
1,006
1,415
387,948
199,983
297,236
72,189
75,660
75,145
77,281
69,150
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
2006
Asset
2004
2005
2007
2006
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.'
1 Total
86,824
65,127
65,895
66,606
66,217
65,588
66,705
65,895
65,063
66,082
66,551
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
8,726
11,041
8,655
11,041
8,676
11,041
8,890
11,041
8,870
11,041
8,786
11,041
8,915
11,041
8,948
19,479
42,718
8,036
37,838
5,040
40,943
6,715
40,124
6,619
39,902
5,577
40,294
5,309
41,465
5,040
40,943
4,855
40,381
4,874
41,251
4,846
41,716
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
2006
Asset
2004
2005
Aug.
1 Deposits
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.'
80
83
98
89
98
104
90
98
90
91
91
1.041.215
8,967
1.069.014
8,967
1.133.969
8,967
1,116,941
8,967
1,098,848
8,967
1,111,991
8,967
1,116,038
8,967
1,133,969
8,967
1,146,680
8,967
1,168,109
8,967
1,181,783
8,967
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
2007
2006
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
2006
2006
Item
2005
1
1
1 Total
By type
2 Liabilities reported by banks in the United States2
2007
2006'
June "
June""
Dec'
Nov.'
Dec'
Jan.'
Feb.'
2,166,212
2,584,687
2,230,589
2,489,597
2,584,687
2,553,158
2,584,687
2,611,729
2,646,285
296,647
201,863
284,476
176,829
308,009'
184,847'
308,009
184,847
284,476
176,829
267,582
186,164
284,476
176,829
294,675
181,356
316,210
181,798
1,077,122
948
589,632
1,271,174
1,026
851,182
1,087,406
986
649,341
1,211,819
986
783,937
1,271,174
1,026
851,182
1,265,082
1,019
833,311
1,271,174
1,026
851,182
1,265,920
1,033
868,745
1,268,459
1,040
878,779
368,516
7,211
128,006
1,615,757
17,214
29,502
435,062
7,078
175,297
1,915,307
12,434
39,508
365,772
6,952
148,402
1,654,139
18,664
36,654
414,714
7,859
158,968
1,851,747
15,955
40,354
435,062
7,078
175,297
1,915,307
12,434
39,508
422,870
7,917
174,875
1,893,979
15,107
38,409
435,062
7,078
175,297
1,915,307
12,434
39,508
427,541
7,341
185,856
1,935,096
14,647
41,247
431,700
6,895
195,902
1,958,914
14,097
38,776
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
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
2005
Mar.
June
Sept.
Dec
2
3
Deposits
Other liabilities
63,119
36,674
26,445
98,349
52,410
45,939
91,693
59,241
32,452
96,086
60,726
35,360
100,448
64,735
35,713
100,508
67,143
33,365
122,415
81,676
40,739
5
Deposits
81,669
38,102
43,567
129,544
51,029
78,515
100,144
43,942
56,202
110,770
49,346
61,424
110,665
48,679
61,986
100,180
39,706
60,474
116,740
44,105
72,635
8
Deposits
21,365
5,064
16,301
32,056
8,519
23,537
56,100
20,931
35,169
67,362
24,110
43,252
88,716
26,928
61,788
88,076
35,110
52,966
71,453
37,886
33,567
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 • April 2007
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Aug.'
Sept.
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'"
3,766,480' 3,581,480
3,623,867
3,682,951" 3,859,275" 3,766,480" 3,890,697
3,998,700
!,082,981
2,299,950
1,851,133'
!,677,914
2,730,324
2,789,988' 2,950,833' 2,851,133' 2,957,459
3,044,620
955,072
1,127,909
665,127
828,535
1,043,801
1,256,149
713,327
1,202,618
1,527,706
955,013
1,314,944'
1,511,949' 1,575,094' 1,536,189' 1,637,134
948,356' 1,010,571'
961,091' 1,039,218
892,963
933,238
908,442
915,347
1,351,779
1,692,841
1,095,640
259,843
1,314,944' 1,178,936
1,536,189' 1,498,978
930,566
961,091'
915,347
903,566
250,811
257,010
242,183
255,711
250,811
257,269
319,598
372,238
368,063
363,721
371,321
387,515
2,911,516
318,783
780,957
893,543
954,080
48,260
152,789
194,583
53,594
136,783
201,516
66,145
113,755
293,215
62,472
122,074
274,318
60,954
116,930
283,297
60,480
104,177
288,200
64,756
105,747
289,010
66,145
113,755
293,215
66,456
108,181
296,736
69,592
108,847
309,296
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
28,165
20,350
14,792
5,558
7,815
2,522
30,971
25,655
18,901
6,754
5,316
1,327
30,220
25,570
19,988
5,582
4,650
814
32,845
28,676
18,977
9,699
4,169
1,281
29,425
25,770
19,021
6,749
3,655
800
32,539
28,908
22,234
6,674
3,631
380
37,648
28,819
21,539
7,280
8,829
5,679
3,412
4,096
2,855
5,293
3,989
3,836
2,888
2,855
3,251
3,150
515,586
145,516
26,613
118,903
498,510
170,984
45,426
125,558
461,305'
178,603'
50,994'
127,609'
482,807
178,658
49,130
129,528
479,388
187,389
50,296
137,093
447,936'
168,237'
50,610'
117,627'
453,746'
167,488'
51,298'
116,190'
461,305'
178,603'
50,994'
127,609'
476,031
192,531
56,073
136,458
498,008
213,082
55,454
157,628
370,070
245,199
327,526
201,863
282,702
176,829
304,149
189,963
291,999
179,394
279,699
178,474
286,258
186,164
282,702
176,829
283,500
181,356
284,926
181,798
105,873
114,186
112,605
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
2,193,169' 2,052,662
1,854,257' 1,738,471
1,022,392'
905,296
831,865'
833,175
338,912
314,191
31,061
25,665
2,097,926
1,775,652
918,004
857,648
322,274
24,583
1,167,342' 2,267,936' 2,193,169' !,229,906
1,835,896' 1,937,334' 1,854,257' ,902,795
990,540' 1,081,841' 1,022,392' 1,020,152
845,356'
855,493'
831,865'
882,643
331,446
330,602
338,912
327,111
26,561
27,613
31,061
27,132
2,304,946
1,963,145
1,052,778
910,367
341,801
27,408
52,400
140,978
48,776
152,526
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
38
39
40
232,818
44,727
223,177
33,124
290,078
42,121
277,411
38,860
273,954
36,879
277,168
40,394
287,413
40,653
290,078
42,121
318,996
43,151
318,524
42,384
136,192
51,899
142,188
47,865
196,345
51,612
191,368
47,183
189,758
47,317
189,098
47,676
198,059
48,701
196,345
51,612
222,770
53,075
224,006
52,134
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
61,439
227,087
62,000
235,691
1,082,581' 1,017,846
792,503'
740,435
222,537'
209,718
569,966'
530,717
1,015,582
741,628
215,417
526,211
66,350
241,501
103,128
56,361
243,618
57,411
256,982
1,037,453' 1,104,748' 1,082,581' 1,152,221
760,285'
817,335'
792,503'
833,225
216,901'
223,623'
222,537'
221,866
543,384'
593,712'
569,966'
611,359
1,158,098
839,574
222,008
617,566
64,509
240,376
62,682
240,307
66,350
241,501
MEMO
42 Own foreign offices12
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.
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
Aug.'
Sept.'
Oct.'
Nov.'
Dec
AREA OR COUNTRY
43 Total, all foreigners
2,911,516
3,080,907
3,766,480
3,581,480
3,623,867
3,682,951
3,859,275
3,766,480
3,890,697
3,998,700
44 Foreign countries
2,895,862
3,060,114
3,737,055
3,553,315
3,592,896
3,652,731
3,826,430
3,737,055
3,858,158
3,961,052
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
Switzerland
63 Turkey
64
United Kingdom
65
Channel Islands and Isle of Man14
66
Yugoslavia15
67
Other Europe and other former U.S.S.R.1
1.050.895
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
1,420,547
3,797
14,528
931
3,204
68,895
60,833
1,488
83,715
7,348
72,867
25,190
42,393
2,250
62,704
9,027
3,715
54,532
10,369
836,273
33,348
295
22,844
1,392,186
4,346
16,002
2,235
1,229
72,891
59,282
1,139
77,369
7,238
67,988
23,841
52,798
2,320
53,402
8,468
3,756
58,455
10,155
818,807
27,517
236
22,713
1,402,535
3,862
14,981
2,330
942
68,109
61,376
1,565
75,430
5,849
73,627
28,835
57,151
2,441
49,164
7,505
3,839
67,410
9,850
819,527
28,157
249
20,338
1,421,519
3,862
16,662
1,023
838
66,785
58,770
1,389
76,247
7,201
74,341
34,401
40,694
2,502
45,985
9,086
5,019
51,548
9,159
859,986
33,795
307
21,920
1,492,385
4,448
19,736
1,892
1,038
69,715
60,338
2,293
77,847
9,897
76,178
38,255
36,314
2,641
53,170
8,188
3,971
50,475
10,534
911,588
32,416
273
21,179
1,420,547
3,797
14,528
931
3,204
68,895
60,833
1,488
83,715
7,348
72,867
25,190
42,393
2,250
62,704
9,027
3,715
54,532
10,369
836,273
33,348
295
22,844
1,504,440
4,268
16,640
1,208
1,515
71,469
60,950
1,696
92,084
7,657
79,037
33,408
45,946
1,902
57,371
9,421
4,032
56,632
13,204
892,715
34,245
304
18,736
1,572,483
5,608
17,974
861
618
62,317
59,469
1,454
90,587
7,383
76,827
37,188
54,268
2,131
60,836
9,735
4,151
59,188
14,126
953,305
33,820
327
20,311
n.a.
1,341,563
MEMO
68 European Union17
1,205,076
1,177,424
1,180,367
1,229,013
1,299,283
1,205,076
1,288,725
34.248
33.552
44,540
44,233
45,070
48,511
48,471
44,540
48,916
49,224
70 Latin America
Argentina
71
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru
80
Uruguay
81
Venezuela
82
Other Latin America15
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
155,322
10,474
15,841
16,825
11,630
3,150
1,387
45,350
7,083
4,253
6,102
22,642
10,585
151,884
10,456
14,542
14,158
10,539
2,690
1,541
50,121
5,924
3,385
5,875
22,406
10,247
152,344
10,317
14,059
15,771
10,656
2,857
1,499
49,430
5,848
3,649
5,624
22,749
9,885
153,833
10,710
15,694
16,189
10,941
3,028
1,489
46,968
5,562
4,072
6,013
23,452
9,715
160,350
10,667
20,301
17,070
11,514
2,846
1,411
46,147
6,812
3,763
5,835
23,779
10,205
155,322
10,474
15,841
16,825
11,630
3,150
1,387
45,350
7,083
4,253
6,102
22,642
10,585
163,803
10,530
20,865
18,010
12,197
2,866
1,670
45,864
7,095
3,992
6,434
23,666
10,614
168,057
10,895
22,321
19,145
12,469
3,150
1,757
45,877
6,765
4,418
6,540
22,902
11,818
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 . . . .
,212,209
186,097
92,577
n.a.
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
1,648,848
251,619
55,100
21,608
1,281,357
83
986
8,453
3,096
26,546
,507,739
238,139
49,452
20,120
,168,322
127
941
6,130
2,700
1,539,730
239,210
54,994
20,722
1,192,887
127
1,047
6,170
2,760
21,813
1,582,697
242,437
54,986
21,608
1,231,079
128
832
6,076
2,832
22,719
1,669,153
265,168
52,699
21,323
1,294,827
81
996
5,226
2,725
26,108
1,648,848
251,619
55,100
21,608
1,281,357
83
986
8,453
3,096
26,546
,660,550
240,154
60,166
20,380
,300,508
83
810
7,346
2,905
28,198
1,691,203
227,709
57,848
20,371
1,345,194
83
810
5,982
3,137
30,069
420,635
408,192
422,234
403,425
406,257
402,214
408,708
422,234
432,214
433,042
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
43,108
18,792
4,377
7,240
127,398
27,783
3,793
22,915
8,317
69,494
44,616
49,502
35,469
16,414
4,685
6,363
134,890
21,873
3,069
20,045
10,279
69,041
31,795
55,028
34,843
14,861
5,360
9,557
127,871
23,033
3,292
23,212
10,002
70,300
28,898
47,021
32,567
15,693
3,286
7,657
72,359
39,712
46,657
39,120
18,345
3,852
6,797
127,811
21,836
3,453
19,463
8,324
72,581
40,469
44,401
43,108
18,792
4,377
7,240
127,398
27,783
3,793
22,915
8,317
69,494
44,616
53,409
39,094
19,677
3,701
9,315
125,221
29,753
3,530
19,512
8,396
75,440
45,166
54,350
36,767
23,530
3,903
10,794
127,324
29,048
3,517
21,348
8,146
70,364
43,951
106 Africa
107
Egypt
Morocco
108
South Africa
109
110
Oil-exporting countri
Other
14,580
2,711
156
3,284
4,326
4,103
20,095
4,953
138
3,049
6,858
5,097
14 775
2,253
198
1,389
4,438
6,497
19,845
2,772
198
1,893
7,830
7,152
18,483
2,325
174
1,452
8,277
6,255
13,948
1,576
162
1,357
4,448
6,405
17,386
2,681
168
1,725
5,270
7,542
14775
2,253
198
1,389
4,438
6,497
16,541
3,510
206
2,417
4,359
6,049
15,776
3,343
271
2,146
4,066
5,950
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
34,003
28,329
4,844
830
28,477
22,412
5,206
859
30,009
24,650
4,038
1,321
29,977
24,698
4,116
1,163
30,789
25,251
4,500
1,038
31,694
28,121
2,626
947
31,267
26,807
3,337
1,123
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
28,165
21,970
6,195
30,971
25,746
5,225
30,220
25,095
5,125
32,845
28,566
4,279
29,425
25,202
4,223
32,539
28,180
4,359
37,648
33,859
3,789
93 Asia
China
94
Mainland
95
Hong Kong
96
India
97
Indonesia
98
Israel
99 Japan
Korea (South)
100
Philippines
101
Taiwan
102
103 Thailand
Middle Eastern oil-exporting countries20
104
Oh
105
Other
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.
8,813
129,625
23,030
3,454
18,997
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.
48
Federal Reserve Bulletin Statistical Supplement • April 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
Aug.'
Sept/
1 Total, all foreigners
1,664,223
1,864,834
2,249,371
2,107,304
2,144,228
2,208,959
2,330,324
2,249,371
2,377,668
2,434,397
2 Foreign countries
1,658,247
1,857,584
2,240,197
2,100,469
2,135,558
2,200,646
2,323,172
2,240,197
2,369,700
2,426,549
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
1,137,594
4,277
13,592
1,032
9,434
112,350
17,983
250
24,301
30,991
7,138
29,508
30,978
924
1,732
9,734
8,905
105,364
3,697
682,097
36,893
6,414
1,038,167
6,186
13,198
944
8,496
96,245
19,977
157
19,067
23,705
10,103
23,442
22,599
804
1,662
8,102
10,141
108,674
3,421
626,140
29,799
5,305
1,092,189
4,134
13,788
300
12,740
103,456
16,357
143
18,526
25,425
10,072
25,613
26,106
835
1,676
9,714
10,124
132,266
3,611
641,047
30,281
5,975
1,112,209
5,357
12,921
419
10,231
105,888
18,583
161
20,921
25,976
9,722
28,830
26,450
843
1,602
12,344
11,318
148,282
3,467
632,818
31,258
4,817
1,178,217
4,957
13,109
1,319
10,470
114,964
17,872
129
20,684
28,643
8,044
30,187
26,266
944
2,078
12,019
9,385
153,615
3,359
680,565
34,575
5,033
1,137,594
4,277
13,592
1,032
9,434
112,350
17,983
250
24,301
30,991
7,138
29,508
30,978
924
1,732
9,734
8,905
105,364
3,697
682,097
36,893
6,414
1,235,494
4,752
16,824
355
8,947
132,089
20,502
182
27,900
30,935
7,332
26,781
23,153
943
1,681
9,660
7,930
135,731
3,674
730,396
40,060
5,668
1,282,533
4,794
31,717
404
10,175
128,512
20,514
271
27,208
28,022
7,804
35,027
24,215
969
1,664
19,295
7,071
151,264
3,847
733,464
39,051
7,244
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 . .
MEMO
1,029,741
956,436
25 European Union5
n.a.
957,345
870,561
896,718
26 Canada
51,088
64,104
71,471
75,337
65,624
72,011
74,926
71,471
79,530
68,904
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
55,642
2,193
18,534
6,428
2,606
551
845
16,441
2,212
1,298
353
1,941
2,240
53,390
2,170
14,386
6,758
2,684
579
883
17,090
2,315
1,320
517
2,363
2,325
63,076
3,326
23,017
6,650
2,654
583
918
17,096
2,251
1,500
407
2,223
2,451
64,788
2,627
25,289
6,172
2,648
637
972
17,431
2,596
1,498
422
2,183
2,313
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
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
735,125
120,806
17,704
2,807
583,324
636
2,484
1,055
6,309
709,057
156,675
18,589
3,589
515,411
675
8,010
730
5,378
691,363
135,539
18,369
3,743
523,063
666
3,945
745
5,293
727,838
141,022
18,597
4,465
553,847
646
2,404
807
6,050
780,100
157,465
21,642
4,588
586,430
648
2,318
723
6,286
735,125
120,806
17,704
2,807
583,324
636
2,484
1,055
6,309
772,394
121,423
18,448
2,666
619,073
628
2,402
1,093
6,661
795,203
127,679
17,823
3,024
635,881
633
2,393
893
6,877
142,656
190,610
221,554
203,751
216,271
206,895
208,669
221,554
207,568
202,760
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
24,463
973
3,166
5,727
10,570
5,554
19,406
9,475
2,174
367
5,201
118,039
18,698
1,093
4,790
7,150
11,403
5,955
15,223
9,219
2,646
439
4,853
123,298
29,028
1,094
5,563
7,333
10,588
6,987
8,552
9,071
2,343
506
8,617
127,355
23,494
847
4,082
5,841
9,664
6,523
10,215
9,814
2,583
464
5,436
133,140
22,523
803
2,975
5,565
9,845
5,306
15,448
6,751
2,827
518
5,315
140,242
24,463
973
3,166
5,727
10,570
5,554
15,587
6,499
2,948
574
7,025
127,248
20,278
871
3,757
6,138
11,262
5,381
15,039
4,978
2,617
591
5,991
122,845
24,433
829
2,818
5,939
11,451
5,229
1,262
228
53
318
223
440
1,621
422
63
331
317
488
1,845
597
56
247
403
542
1,910
603
69
309
332
597
2,007
601
48
282
323
753
1,860
589
95
259
345
572
1,786
592
53
195
338
608
1,845
597
56
247
403
542
1,906
595
63
333
332
583
1,760
661
55
189
290
565
10,386
9,695
609
82
10,945
10,226
541
178
14,234
12,835
1,157
242
16,605
15,739
656
210
14,714
13,595
901
218
16,757
15,539
1,004
214
14,686
13,825
647
214
14,234
12,835
1,157
242
14,730
13,520
948
262
14,384
13,430
491
463
5,976
7,250
9,174
6,835
8,670
8,313
7,152
9,174
7,968
7,848
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.
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
2006
Type of claim
2004
2005
Aug.'
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
2007
2006'
Sept.'
Oct.'
Nov.'
2 208 959
84.620
1 631 238
493.101
2 330 324
86.949
1 718 544
524.831
2,764,234
Dec'
Jan.'
Feb.'
2 377 668
89.375
1 734 812
553.481
2 434 397
96.698
1 776 432
561.267
2,892,513
2,026,841
2,344,155
2,892,513
1 664 223
71,892
1 187 954
404,377
1 864 834
72,919
1 391 775
400,140
2 249 371
97,545
1 626 559
525,267
362,618
152,520
107,533
88,423
14,142
479,321
227,685
91,196
140,863
19,577
643,142
262,105
170,342
188,633
22,062
668,255
3,970
748,320
2,414
938,869
6,233
883,393
2,505
900,353
2,790
925,921
5,678
995,747
6,356
938,869
6,233
961,394
7,132
995,422
8,542
3,888
988,110
1,097,873
7,324
1,106,776
1,304,277
7,869
1,296,400
1,631,356
11,054
1,210,352
1,505,649
7,840
1,233,245
1,568,699
9,542
1,267,818
1,605,066
8,640
1,319,581
1,702,446
7,869
1,296,400
1,631,356
9,753
1,399,389
1,738,187
9,510
1,420,923
1,765,409
479,422
482,090
613,909
586,409
592,695
595,480
630,287
613,909
665,289
698,491
2107 304
83.035
1 545 649
478.620
2 144 228
96.383
1 575 554
472.291
620.006
263,369
141,757
191,609
23,271
2 249 371
97.545
1 626 559
525.267
643.142
262,105
170,342
188,633
22,062
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 • April 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.
Sept.
1 Total
67,664
73,700
92,009
71,802
66,468
76,710
81,264
83,915
92,438
By type
2 Financial liabilities
3
Short-term negotiable securities'
39,561
n.a.
43,610
14,002
62,847
11,759
35,918
9,576
29,347
5,438
39,249
9,050
39,585
5,704
38,445
6,584
48,990
7,971
51,088
26,342
30,199
33,881
8,561
10,099
9,645
19,109
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
n.a.
n.a.
n.a.
n.a.
18,844
20,717
n.a.
n.a.
n.a.
n.a.
n.a.
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
21,917
14,001
1,786
4,604
2,202
1,222
4,187
17,794
11,553
1,860
4,017
2,741
1,401
1,534
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
24,312
14,133
1,064
3,564
2,963
1,212
5,330
35,594
13,396
2,268
3,708
2,722
1,173
3,525
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
38,690
775
1,349
2,911
363
514
29,473
22,474
633
1,087
2,832
128
114
13,091
16,799
547
1,044
2,425
379
53
9,861
22,697
342
761
2,533
406
124
12,712
20,823
451
1,039
4,510
432
237
11,862
21,115
340
1,786
3,816
453
371
12,997
28,543
395
1,218
9,897
449
158
14,105
591
1,239
2,433
2,058
2,530
2,671
2,287
3,573
1,504
23
990
65
365
n.a.
31
4,235
0
711
242
n.a.
3,114
34
3
16,196
0
8,715
208
n.a.
7,178
26
18
6,679
0
77
69
n.a.
6,489
28
0
7,603
0
991
70
n.a.
6,446
25
1
9,683
0
769
56
n.a.
8,744
23
0
8,590
1
238
69
n.a.
8,189
28
0
10,254
0
16
67
n.a.
10,016
35
0
2,932
1,832
14
2,547
1,826
36
4,724
1,648
36
3,211
1,161
3,640
1,304
35
5,323
1,383
173
5,321
1,083
206
5,612
1,265
647
5,795
1,223
1,200
131
91
123
92
131
94
107
96
122
96
997
97
1,022
98
MEMO:
21
22
Euro area3
Canada
23
24
25
26
27
28
29
30
31
32
33
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
34
35
Africa
Oil-exporting countries'"
36
All other7
8,024
6,214
11,211
115
240
n.a.
7,569
8
0
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 . . .
Sept.
28.103
14,699
13,404
30,090
17,174
12,916
29,162
18,181
10,981
35,884
22,497
13,387
37,121
23,785
13,336
37,461
23,050
14,411
41,679
26,697
14,982
45,470
30,269
15,201
43,448
28,731
14,717
26,243
1,860
n.a.
n.a.
n.a.
n.a.
n.a.
27,632
2,458
199
787
606
209
657
25,811
3,351
224
1,058
704
296
1,069
33,010
2,874
143
1,028
585
119
999
34,513
2,608
155
1,014
391
284
764
34,725
2,736
171
989
471
308
797
38,731
2,948
182
1,142
484
300
840
41,995
3,475
742
1,158
415
304
856
40,203
3,245
710
633
431
387
1,084
8,257
141
765
781
590
433
2,649
9,821
159
900
855
384
1,367
3,025
9,030
123
1,019
1,024
305
564
3,407
10,729
103
1,669
965
402
893
3,203
11,344
124
1,816
1,006
329
1,106
3,442
10,574
109
1,870
1,113
489
1,113
2,882
11,479
86
2,004
1,092
626
708
3,627
11,666
138
1,921
1,245
423
911
3,394
11,701
156
1,538
1,206
619
1,382
3,614
4,200
4,198
3,730
1,588
2,166
2,145
2,179
2,836
2,375
3,114
4,155
3,561
3,073
51
538
253
36
n.a.
1,170
177
3,406
14
513
233
n.a.
40
1,298
329
4,276
515
113
n.a.
101
1,942
433
5,360
79
774
127
n.a.
76
2,210
522
5,228
74
621
143
n.a.
100
1,921
738
5,748
70
713
218
n.a.
76
2,209
680
5,771
82
688
163
n.a.
219
2,751
499
7,424
64
851
629
2,798
467
6,595
85
720
215
n.a.
569
2,523
471
13,382
4,292
3,979
13,311
4,370
3,148
12,239
4,221
2,910
16,127
5,671
4,221
16,408
5,892
3,862
17,427
5,971
3,986
20,081
6,089
5,432
20,449
6,182
5,344
20,091
6,031
4,978
827
405
782
372
947
424
1,009
627
851
459
916
493
714
342
1,296
755
970
591
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
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.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5,837
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 • April 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
Sept.
102,566
100,916
143,232
129,812
135,339
144,950
130,598
136,141
149,131
71,389
n.a.
n.a.
67,347
35,465
3,204
110,517
47,270
9,892
97,140
48,354
8,894
104,213
49,477
11,845
111,394
50,149
13,180
94,892
40,565
12,365
98,948
42,436
12,787
112,908
34,607
21,642
n.a.
44,064
157
28,678
103
53,355
173
39,892
82
42,891
65
48,065
2
41,962
18
43,725
12
56,659
14,453
7,298
14,443
19,530
n.a.
n.a.
n.a.
n.a.
65,070
6,319
n.a.
n.a.
n.a.
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
61,778
35,362
10,031
9,331
7,527
3,826
4,647
66,405
37,808
10,837
10,256
8,695
3,880
4,140
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
75,755
23,193
8,549
4,970
4,726
610
4,338
87,667
25,241
10,513
6,374
4,467
656
3,231
29,018
722
3,247
4,245
3,648
383
10,663
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
38,627
1,930
4,593
3,040
1,696
1,185
17,414
41,844
784
4,323
1,967
3,271
1,249
21,870
42,736
1,743
2,752
2,729
3,033
1,152
36,038
1,286
1,639
2,315
3,148
1,449
20,103
37,222
580
2,867
2,453
1,722
1,417
22,356
54,738
697
2,569
9,084
2,712
1,364
31,943
17,012
15,067
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
5,013
5,311
6,412
11,905
14,290
13,372
12,056
13,078
15,250
29,612
1,038
724
2,286
21,528
2,921
104
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
38,915
3,436
1,316
1,480
n.a.
30,437
1,384
62
39,763
3,676
1,113
1,664
n.a.
30,263
1,950
156
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
38,406
3,802
1,602
1,703
n.a.
29,156
1,182
148
32,952
4,463
1,631
1,420
n.a.
23,296
1,244
5,358
1,277
79
5,317
1,194
158
6,840
993
137
6,120
784
114
6,546
610
93
7,223
568
242
6,566
496
251
7,526
665
705
7,248
779
1,209
395
25
419
12
306
8
282
23
345
55
1,291
37
1,268
36
1,123
36
1,078
34
1,291
1,425
1,115
1,593
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.
Sept.
39 Commercial claims
40
Trade receivables
41
Advance payments and other claims .
31.177
26,385
4,792
33,569
28,618
4,951
32,715
29,229
3,486
32,672
28,576
4,096
31,126
27,535
3,591
33,556
29,231
4,325
35,706
31,234
4,472
37,193
32,848
4,345
36,223
31,595
4,628
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling . .
Japanese yen
All other currencies
26,481
4,696
n.a.
n.a.
n.a.
n.a.
n.a.
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
28,347
4,325
407
1,442
1,098
153
1,225
27,881
3,245
341
1,167
509
196
1,032
29,898
3,658
481
1,335
706
187
949
31,567
4,139
444
1,777
736
126
1,056
33,540
3,653
465
1,424
692
150
922
32,330
3,893
601
1,428
618
14,187
269
3,164
1,202
1,490
503
3,727
14,552
247
2,816
1,273
395
1,921
3,928
13,457
257
2,261
1,401
494
1,528
3,742
13,096
402
2,233
1,477
461
1,319
3,119
12,183
396
2,023
1,438
339
1,358
3,053
12,084
470
2,311
1,509
354
724
2,677
14,630
480
2,308
1,472
654
743
4,744
14,131
421
2,404
1,681
480
666
4,165
14,148
480
2,092
1,643
529
1,050
3,834
Euro area3
8,849
7,340
57
Canada
2,790
3,070
2,017
2,139
2,001
2,750
2,803
3,220
2,508
58
59
60
61
62
63
64
65
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
n.a.
52
1,339
230
6,477
55
650
935
n.a.
160
2,018
319
6,310
29
581
952
n.a.
143
1,838
393
6,524
27
498
1,028
n.a.
294
1,812
390
6,757
41
648
1,022
n.a.
61
2,089
380
7,062
35
731
947
n.a.
200
2,252
409
7,880
39
1,166
981
n.a.
488
1,902
378
7,382
31
464
1,053
n.a.
563
2,024
356
66
67
68
Asia
Japan
Middle Eastern oil-exporting countriesf
7,324
2,341
818
7,352
1,757
888
8,943
1,855
1,071
9,245
1,930
1,317
8,561
1,717
1,271
10,073
2,128
1,558
9,197
2,167
1,419
10,197
2,159
1,843
10,368
2,204
1,727
69
70
Africa
Oil-exporting countries'"
584
95
636
138
629
154
873
226
788
234
830
258
917
313
964
315
1,040
359
71
All other7
42
43
44
45
46
47
48
49
50
51
52
53
54
55
By area or country
Commercial claims
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
1,013
MEMO
2,806
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.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
6,739
1,069
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 • April 2007
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.Feb.
Sept.
U.S. corporate securities
STOCKS
1 Foreign purchases
2 Foreign sales
4,731,749
4,649,799
6,904,113
6,753,857
1,256,353
1,220,062
583,195'
575,077'
562,165
547,511'
643,028
615,986'
610,621
603,563'
573,252
584,852
624,681'
601,903'
631,672
618,159
150,256
36,291
8,118r
14,654'
27,042'
7,058'
-11,600
22,778'
13,513
81,993
954
150,212
5,766
36,304
-242
8,116r
207
14,651'
-682
27,043'
-407
7,058'
-2,098
-11,604
-499
22,788'
-571
13,516
329
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
96,946
1,622
21,738
-8,164
-1,775
11,611
-5,428
1,194
75,858
96
11,821
2,151
35,039
7,965
-4,486
465
-465
-668
89
687
17,179
-222
2,829
2,951
963
127
-714
-257
10,949
290
-461
74
20,029
590
-1,860
-118
-148
-330
-76
829
9,640'
375
2,239
-819
-182
252
169
513
6,620'
-149
14
-208
-1,914
491
48
-50
26
434
1
44
11,305'
167
893
865
25
93
267
-222
9,908'
-148
355
68
5,463
-300
-2,285
-52
-252
-790
-87
132
15,417'
-399
6,128
1,267
-560
426
-2,005
-379
11,356'
-88
915
200
12,472
418
-1,993
403
-55
-741
3,395'
-781
2,889
-7
-287
1,367
-927
-1,156
2,222'
74
838
-55
5,938
-487
-2,742
-76
-432
-218
26
145
-10,077
-272
974
-5,300
-1,574
233
-679
228
-1,598
-944
290
343
-1,157
218
-1,316
444
-396
-677
-22
117
13,819'
151'
3,577'
-892'
38
-382'
1,401'
579'
8,045'
229
-141'
72
10,387'
648'
-2,495'
-92
205'
-1,249
10'
488
3,360
-372
-748
3,843
925
509
-2,115
-836
2,904
61
-320
2
9,642
-58
635
-26
-353
919
-86
341
1,097,458
878,202
1,572,182
1,282,602
285,235
247,441
127,242
94,057'
123,864
98,413'
127,613
111,642'
140,619
124,893'
154,126
126,320'
143,450'
107,677'
141,785
139,764
28 Foreign sales
219,256
289,580
37,794
33,185'
15,726'
27,806'
35,773'
29 Net purchases, or sales (-)
218,983
31,629
289,344
92,632
37,847
19,931
33,319'
9,599'
25,448'
7,872
15,916'
5,260
15,751'
3,955
27,843'
15,506
35,790'
15,751
2,057
4,180
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
88,746
-193
-261
4,471
4,168
5,028
-648
-185
53,311
1,528
9,507
14,181
39,750
7,037
129,141
37,461
31,659
45,062
-118
1,100
10,808
-25
1,608
-52
-336
-644
-505
-291
7,428
343
900
3,302
-3,139
3,200
22,575
13,684
5,987
6
46
155
10,277'
-19
344
84
481
315'
52
20'
5,251
282'
400
-267
7,665'
1,443
13,882'
4,770'
3,699
3,214
-19
-62
8,701'
3
759
436
819
1,018
-39
20'
4,706'
13
919
810
3,844'
575
10,578'
2,545
1,422
5,004
4
17
6,618'
-45
8
190
-585'
-149
-368
214'
3,487
501
697'
-87
1,820'
11
6,783'
1,156
2,363
3,857
25
49
4,577'
-70
-66
805
57'
-299
13
-171
3,765
694
498
1,920
4,461'
-488
4,854
610
1,132
2,534
-23
-48
10,336'
-75
857
270
675'
187
155
131
6,770
293
1,812
5,289
2,527'
1,140
6,771
383
3,599
-578
-36
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
80
-1,266
5
902
-304
-141
1,513
-144
-213
-2,956
312
379
1,152
-6,516
1,011
7,186
2,284
3,164
1,094
36
75
1,277,006
904,784
1,666,037
1,165,329
312,680
224,247
131,424'
90,722'
157,346'
99,050'
149,055'
108,405'
173,943'
111,595'
166,971'
131,666'
155,259'
112,220'
157,421
112,027
55 Net purchases, or sales (-) .
372,222
500,708
88,433
40,702'
35,305'
43,039'
56 Foreign countries
57
Of which: by foreign official institutions
369,370
19,141
499,632
28,556
88,290
7,908
40,264'
2,761'
58,322'
1,830
40,640'
2,006
62,144'
3,220'
35,706'
2,864
42,956'
2,383
45,334
5,525
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
305,763
-653
21,563
-11,985
14,010
3,564
3,216
9,755
242,349
10,388
8,052
10,035
91,370
4,674
72,404
31,251
14,810
12,671
-178
7,512
57,219
-2,303
5,226
480
3,254
177
-462
1,264
1,264
1,093
3,499
802
8,618
244
15,076
7,339
1,451
2,315
-34
2,866
20,083'
-1,458
2,869'
27'
442'
-395'
144'
1,015
15,538'
-81
439'
1,578
10,698'
911'
6,468'
2,319
1,006
2,050'
44,616'
173'
3,029
836
3,118'
1,713'
64'
635
30,387'
3,108'
776'
1,024
7,577'
-486
3,982
1,869
669
268
63
770
25,122'
-138
3,423
-2,948
1,430'
-519
1,135
1,139
19,825'
883
-159'
977
8,711'
-56
5,681'
1,367
1,776
1,468
31
333
41,261'
-32
2,636
764'
2,589'
548'
61
2,477'
31,664'
-670'
1,317
762
9,433'
414'
8,899'
3,334
1,402'
2,377
49'
9'
12,780'
-374'
3,038'
-14,901'
24'
-33'
585'
376'
20,797'
1,612
1,301'
680
12,282'
-89'
8,778'
3,639
1,615
2,318
-435
409
30,729'
-1,519
3,723
285
1,989'
-746'
-217
491'
27,729'
650
376'
704
3,593'
221
7,487'
3,401
1,234
1,564'
-86
-68
26,490
-784
1,503
195
1,265
923
-245
773
21,182
443
3,123
98
5,025
23
7,589
3,938
217
751
52
2,934
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
-275
26 International and
regional organizations2
U.S. GOVERNMENT AGENCY BONDS
27 Foreign purchases
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
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
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
69^910
26,130
11,012
25,617
394
6,365
1,076
-24
Securities Holdings and Transactions
3.24
55
FOREIGN TRANSACTIONS IN SECURITIES—Continued
Millions of dollars
2007
Transaction, and area or country
2005
2006
2007
2006'
Jan.Feb.
Aug.'
Sept.'
Oct.'
Nov.'
Dec'
Jan.'
Feb.'
-8,374
346,245
354,619
-19,867
342,698
362,565
-19,547
326,212
345,759
-13,200
341,666
354,866
-15,327
370,376
385,703
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
-107,391
3,699,410
3,806,801
-28,527
712,042
740,569
6,385
287,585
281,200
-9,335
281,208
290,543
-45,095
-139,751
-9,227
-10,392
-13,936
-8,224
-14,184
-29,186
-4,774
^t,453
83 Foreign purchases
1,459,882
1 504 977
1,872,823
2 012 574
445,915
455,142
140,409
150,801
146,152
160,088
161,418
169,642
194,222
208,406
195,131
224,317
216,329
221,103
229,586
234,039
85 Net purchases, or sales (-) of stocks and bonds4
-172,391
-247,142
-37,754
-4,007
-23,271
-16,598
-34,051
-48,733
-17,974
-19,780
-165,403
-81,669
-15,952
-46,382
-4,559
-23,487
5,474
-45,551
-32,842
-1,668
-13,943
-251,589
-218,438
-48,820
-158,505
-18,775
-12,564
25,749
-16,779
2,275
-2,272
-8,510
^12,330
-40,334
-11,528
-31,304
1,337
1,900
5,995
-8,422
-4,826
501
-3,307
-6,757
-11,723
734
-9,690
-3,302
1,005
2,095
5,026
1,547
-35
177
-25,312
-20,687
-3,404
-17,519
-839
43
-169
-2,103
-863
96
-1,653
-16,645
-20,076
-5,552
-9,098
-1,297
-2,153
9,176
-1,302
-665
244
-1,237
-34,132
-30,570
-5,735
-23,954
691
-2,787
3,878
-2,223
1,816
-79
-3,042
-48,476
-37,256
-8,605
-26,741
-2,543
-2,189
1,180
-6,399
-5,495
-349
-920
-18,138
-15,917
-3,974
-12,944
2,771
1,853
-2,564
-3,553
-792
186
-914
-24,192
-24,417
-7,554
-18,360
-1,434
47
8,559
-4,869
-4,034
315
-2,393
-6,988
4,447
4,576
2,750
2,041
47
81
-257
164
4,412
87 Europe
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
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.Feb.
Aug.
Sept.
1 Total reported
338,112
32,200
42,902'
2,293r
2 Foreign countries
3
Of which: by foreign official institutions
335,160
68,689
196,830
69,639
32,548
-2,715
43,023'
16,482'
2,304'
7,589'
25,170'
18,463
32,750'
1,016
10,462'
6,092
15,346'
-5,254'
17,202
2,539
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
99,245
580
-1,600
2,146
-1,313
-1,288
693
5,129
703
-2,893
91,546
-296
5,838
14,160
16,801
-582
1,176
1,748
1,207
-857
1,535
-19,878
2,873
-1,355
27,437
-212
3,708
1,696
13,802'
113
-1,803
658'
1,455'
-550
-830
4,003
21,077
-91
5,379
62
655
-265
410
13,370
-908
25
26
234
2,180
-1,220
19,874'
-99
2,628
-610
-526
-555
280
6,121
-153
-898
13,880'
-44
-151
-2,625'
8,171
-1
-494
-29
-2,786
-28
1,309
-4,071
174
-1,828
16,705
-258
-521
517'
9,857'
-631
2,396
3,971'
898
-256
769
-11,683
1,932
-244'
10,418
-98
2,386
902'
6,944
50
-1,220
-2,223
310
-601
765
-8,195
941
230'
10,626
-328'
196
5,693'
7,635'
-370
-2,430
1,935'
-521
595'
729'
1,922
-547
-439'
6,876'
-235
120
2,001
3,054
4,476
-1,138
59
-343
-2,202
994
-3,720
211
313
2,354
1,702
631
5
16
6,628
7,109
-725
-77
321
10,377'
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
21,924
23,100
-308
242
-1,110
8,982
8,811
-94
-72
337
10,214
11,244
-1,670
-18
658
3,265'
1,990
592
-22
705'
491
1,434
-874
43
23
Caribbean
44,997
-9,830
-4,258
-4,168'
-9,743'
2,287'
15,605'
-16,779'
-3,921'
-337
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
70,453
40,700
16,264
2,015
6,768
4,899
-193
8,812
10,177
4,844
-5,157
-7,581
1,620
4,909
16,324'
4,449'
1,961
11,365
-922
-540
11
-542'
1,501
-898
-3,432
2,420
-81
-52'
2,073
3,140
260
781
-702
-2,538
1,132
-2,760
-798
678
-256
-833
-1,097
-454
21,131
7,187
1,671
8,645
-825
1,199
3,254
5,387'
235
2,232
3,286
-3,684
1,399
1,919'
3,425
9,942
2,612
-8,443
-3,897
221
2,990
2,222
2,027
3,513
2,400
-15
610
163
641
-6
-638
188
-744
-4
179
501
-194
109
1,166
-2,635
530
744
-179
240
-564
2,952
824
-348
-121
-168
31
Africa
32
African oil exporters3
33
Other countries
34
International and regional organizations
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).
414
101
615
-85
17J019
-114
1,322
794
588
-58
-139
-209
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 • April 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
2006
Item
2004
2005
2007
2006
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
0.7728
2.1555
1.1359
7.8622
5.7858
1.2888
7.7816
44.73
117.32
3.6413
10.913
0.6693
6.3991
1.5558
7.2455
935.41
107.720
7.0612
1.2356
32.808
36.501
1.9125
2,144.60
0.7858
2.1476
1.1532
7.8219
5.6452
1.3205
7.7733
44.48
117.32
3.5477
10.855
0.6933
6.1826
1.5401
7.0345
924.98
107.791
6.8398
1.2099
32.512
35.694
1.9629
2,144.60
0.7826
2.1376
1.1763
7.7876
5.7364
1.2993
7.8000
44.21
120.45
3.5065
10.956
0.6947
6.3656
1.5373
7.1898
936.76
108.522
6.9901
1.2431
32.770
35.189
1.9587
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
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.RJyuan
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
0.7549
2.1679
1.1161
7.9334
5.8633
1.2722
7.7825
46.01
117.21
3.6699
10.989
0.6551
6.5008
1.5803
7.4465
952.29
102.595
7.2844
1.2455
32.904
37.427
1.8839
2,144.60
0.7544
2.1458
1.1285
7.9018
5.9085
1.2617
7.7849
45.36
118.61
3.6762
10.885
0.6621
6.6591
1.5775
7.6300
952.64
105.718
7.3338
1.2602
33.194
37.281
1.8765
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
113.63
85.37
110.71
83.71
108.52
82.46
107.92
81.59
108.21
82.36
107.34
81.48
106.53
80.89
107.59
82.37
107.23
82.07
143.38
138.89
135.38
135.37
134.79
134.06
133.03
133.18
132.77
99.54
91.09'
97.89'
90.89'
96.74'
90.82'
96.56
90.22
96.11'
90.62'
94.83'
89.34'
94.02'
88.65'
95.12'
90.45'
94.74
90.42
119.97
116.27
113.53'
113.89
112.26
110.86'
109.83
110.11'
109.24
REAL
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
29 Other important trading partners (March
1973=100)7
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. 84 (October 1998), pp. 811-818.
5. Weighted average of the foreign exchange value of the U.S. dollar against the currencies
of a broad group of U.S. trading partners. The weight for each currency is computed as an
average of U.S. bilateral import shares from and export shares to the issuing country and of a
measure of the importance to U.S. exporters of that country's trade in third country markets.
The source for exchange rates not listed in the table above but used in the calculation of this
index is Reuters Limited.
6. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that circulate widely outside the country of issue. The weight for each
currency is its broad index weight scaled so that the weights of the subset of currencies in the
index sum to one.
7. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that do not circulate widely outside the country of issue. The weight
for each currency is its broad index weight scaled so that the weights of the subset of
currencies in the index sum to one. The source for exchange rates not listed in the table above
but used in the calculation of this index is Reuters Limited.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title, Table Number, and Reporting Date for Data
Issue
Page
Reference
Assets and liabilities of commercial banks, 4.20
March 31,2006
June 30, 2006
September 30, 2006
December 31,2006
June
September
December
March
2006
2006
2006
2007
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks, 4.23
February 2006
May 2006
August 2006
November 2006
May
August
November
February
2006
2006
2006
2007
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
December 31,2005
March 31,2006
June 30, 2006
September 30,2006
May
August
November
February
2006
2006
2006
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
September
September
September
September
2003
2004
2005
2006
A70
70
60
60
Bulletin
Supplement
Supplement
Supplement
September
September
September
September
2003
2004
2005
2006
A73
73
63
63
Bulletin
Supplement
Supplement
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,
1996-2002
1997-2003
1998-2004
1999-2005
4.34-4.411
4.42-4.45
4.46-4.48
Community development lending reported under the Community Reinvestment Act, 4.49
2002
2003
2004
2005
*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
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21
Commercial and industrial loans, 15-21
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
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
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)
Discount rates (See Interest rates)
U.S. government securities held, 5, 10, 11, 25
Federal Reserve credit, 5, 6, 10, 12
Federal Reserve notes, 10
Federally sponsored credit agencies, 28
Finance companies
Assets and liabilities, 30
Business credit, 31
Loans, 34
Paper, 22, 23
Float, 5
Flow of funds, 35-39
Foreign currency operations, 10
Foreign deposits in U.S. banks, 5
Foreign exchange rates, 56
Foreign-related institutions, 20
Foreigners
Claims on, 45, 48^19, 52-53
Liabilities to, 45^17, 50-51, 54, 55
GOLD
Certificate account, 10
Stock, 5, 45
Government National Mortgage Association, 28, 32, 33
INDUSTRIAL production, 42, 43
Insurance companies, 25, 33
Interest rates
Bonds, 23
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22
International capital transactions of United States, 44—55
International organizations, 45, 46^17, 48, 50-55
Investment companies, issues and assets, 30
Investments (See also specific types)
Commercial banks, 4, 15-21
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Commercial banks, 15-21
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Insured or guaranteed by United States, 32, 33
EURO, 56
FARM mortgage loans, 33
Federal agency obligations, 5, 9-11, 26, 27
Federal credit agencies, 28
Federal finance
Debt subject to statutory limitation, and types and ownership of
gross debt, 25
Federal Financing Bank, 28
Federal funds, 23
Federal Home Loan Banks, 28
Federal Home Loan Mortgage Corporation, 28, 32, 33
Federal Housing Administration, 28, 32, 33
Federal Land Banks, 33
Federal National Mortgage Association, 28, 32, 33
Federal Reserve Banks
Condition statement, 10
MANUFACTURING
Capacity utilization, 40, 41
Production, 42, 43
Margin requirements, 24
Member banks, reserve requirements, 8
Mining production, 43
Monetary and credit aggregates, 4, 12
Money and capital market rates, 23
Money stock measures and components, 4, 13
Mortgages (See Real estate loans)
Mutual funds, 13, 30
Mutual savings banks (See Thrift institutions)
OPEN market transactions, 9
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22
Production, 42, 43
REAL estate loans
Banks, 15-21, 33
Terms, yields, and activity, 32
Type and holder and property mortgaged, 33
Reserve requirements, 8
Reserves
Commercial banks, 15-21
Depository institutions, 4—6
Federal Reserve Banks, 10
U.S. reserve assets, 45
Residential mortgage loans, 32, 33
Retail credit, 34
SAVING
Flow of funds, 33, 34, 35-39
Savings deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-39
Securities (See also specific types)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21
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)
59
60
Federal Reserve Bulletin Statistical Supplement • April 2007
Federal Reserve Board Publications
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EDUCATION PAMPHLETS
Short pamphlets suitable for classroom use. Multiple copies are
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A
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A
A
Consumer's Guide to Mortgage Lock-Ins
Consumer's Guide to Mortgage Settlement Costs
Consumer's Guide to Mortgage Refinancings
Guide to Business Credit for Women, Minorities, and Small
Businesses
Choosing a Credit Card
Consumer Handbook on Adjustable Rate Mortgages (also available in Spanish)
Consumer Handbook to Credit Protection Laws
Home Mortgages: Understanding the Process and Your Right
to Fair Lending
How to File a Consumer Complaint about a Bank (also available
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In Plain English: Making Sense of the Federal Reserve
Keys to Vehicle Leasing (also available in Spanish)
Looking for the Best Mortgage (also available in Spanish)
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Putting Your Home on the Loan Line Is Risky Business (also
available in Spanish)
Series on the Structure of the Federal Reserve System
The Board of Governors of the Federal Reserve System
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Federal Reserve Bank Board of Directors
Federal Reserve Banks
What You Should Know About Home Equity Lines of Credit
(also available in Spanish)
When Is Your Check Not a Check? (also available in Spanish)
61
STAFF STUDIES: Only Summaries Printed in the
170.
BULLETIN
Studies and papers on economic and financial subjects that are of
general interest. Staff Studies 1-158, 161, 163, 165, 166, 168, and
169 are out of print, but photocopies of them are available. Staff
Studies 165-176 are available online at www.federalreserve.gov/
pubs/staffstudies. Requests to obtain single copies of any paper or
to be added to the mailing list for the series may be sent to
Publications Fulfillment.
IN SAVINGS ACT, by Gregory Elliehausen and Barbara R.
Lowrey. December 1997. 17 pp.
171.
172.
BANKING MARKETS AND THE U S E OF FINANCIAL SERVICES BY SMALL AND MEDIUM-SIZED BUSINESSES, by
Gregory E. Elliehausen and John D. Wolken. September
1990. 35 pp.
162.
EVIDENCE ON THE SIZE OF BANKING MARKETS FROM MORTGAGE LOAN RATES IN TWENTY CITIES, by Stephen A.
Rhoades. February 1992. 11 pp.
164.
T H E 1989-92 CREDIT CRUNCH FOR REAL ESTATE, by
James T. Fergus and John L. Goodman, Jr. July 1993.
20 pp.
167.
A SUMMARY OF MERGER PERFORMANCE STUDIES IN BANKING, 1980-93, AND AN ASSESSMENT OF THE "OPERATING
PERFORMANCE" AND "EVENT STUDY" METHODOLOGIES,
by Stephen A. Rhoades. July 1994. 37 pp.
USING SUBORDINATED DEBT AS AN INSTRUMENT OF MAR-
KET DISCIPLINE, by Study Group on Subordinated Notes
and Debentures, Federal Reserve System. December 1999.
69 pp.
N E W DATA ON THE PERFORMANCE OF NONBANK SUBSIDIARIES OF BANK HOLDING COMPANIES, by Nellie Liang and
Donald Savage. February 1990. 12 pp.
160.
THE COST OF BANK REGULATION: A REVIEW OF THE EVI-
DENCE, by Gregory Elliehausen. April 1998. 35 pp.
173.
159.
THE COST OF IMPLEMENTING CONSUMER FINANCIAL REGULATIONS: A N ANALYSIS OF EXPERIENCE WITH THE TRUTH
IMPROVING PUBLIC DISCLOSURE IN BANKING, by Study
Group on Disclosure, Federal Reserve System. March 2000.
35 pp.
174.
BANK MERGERS AND BANKING STRUCTURE IN THE UNITED
STATES, 1980-98, by Stephen Rhoades. August 2000. 33 pp.
175.
THE FUTURE OF RETAIL ELECTRONIC PAYMENTS SYSTEMS:
INDUSTRY INTERVIEWS AND ANALYSIS, Federal Reserve
Staff, for the Payments System Development Committee,
Federal Reserve System. December 2002. 27 pp.
176.
BANK MERGER ACTIVITY IN THE UNITED STATES, 1994—
2003, by Steven J. Pilloff. May 2004. 23 pp.
62
Federal Reserve Bulletin Statistical Supplement • April 2007
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GOVERNORS OF THE FEDERAL RESERVE SYSTEM
For ordering assistance, write PUBLICATIONS FULFILLMENT, MS-127, Board of Governors of the Federal Reserve
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Release number and title
Annual
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rate
Annual
fax
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Approximate
release
days1
which
data, refer
VV ±±-LW±± U U l u A W-LW-L
Corresponding
Bulletin or
Statistical
Supplement 2
table numbers
Weekly Releases
Actions of the Board:
Applications and Reports
Received
H.3. Aggregate Reserves of
Depository Institutions and
the Monetary Base 3
H.4.1. Factors Affecting Reserve Balances
of Depository Institutions and
Condition Statement of
Federal Reserve Banks3
H.6. Money Stock Measures3
$55.00
n.a.
Friday
$20.00
n.a.
Thursday
$20.00
n.a.
Thursday
$35.00
n.a.
Thursday
H.8.
Assets and Liabilities of
Commercial Banks in the
United States3
H. 10. Foreign Exchange Rates 3
$30.00
n.a.
Friday
$20.00
$20.00
Monday
H.15. Selected Interest Rates3
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2.12,2.13
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1.55, 1.56
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Fifth working day
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End of month
H.2.
Week ending
previous
Saturday
Week ending
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Wednesday
Week ending
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Wednesday
Week ending
Monday of
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Week ending
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Wednesday
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Friday
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1.11, 1.18
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1.26A-F
3.28
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3.28
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63
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March, June,
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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.
64
Federal Reserve Bulletin Statistical Supplement • April 2007
Publications of Interest
FEDERAL RESERVE REGULATORY SERVICE
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stocks.
The Consumer and Community Affairs Handbook
contains Regulations B, C, E, G, M, P, Z, AA, BB, and
DD, and associated materials.
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GUIDE TO THE FLOW OF FUNDS ACCOUNTS
A new edition of Guide to the Flow of Funds Accounts
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edition incorporates changes to the accounts since the
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65
Federal Reserve Statistical Releases
Available on the Commerce Department's
Economic Bulletin Board
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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