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Volume 2 • Number 12 • December 2005
Statistical Supplement
to the Federal Reserve
BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Lynn S. Fox, Chair • Scott G. Alvarez • Sandra Braunstein • Marianne M. Emerson
• Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus • Vincent R. Reinhart
• Louise L. Roseman • Richard Spillenkothen • 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
Published monthly, the Statistical Supplement 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.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of December 2005.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Reserves of depository institutions and Reserve Bank
credit
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—Tax-exempt state and local
governments and 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 • December 2005
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 foreigners
52 Claims on 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
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Assets and liabilities of commercial banks,
September 30, 2005
60 INDEX TO STATISTICAL TABLES
62 FEDERAL RESERVE BOARD PUBLICATIONS
64 ANTICIPATED SCHEDULE OF RELEASE DATES FOR
PERIODIC STATISTICAL RELEASES
66 PUBLICATIONS OF INTEREST
67 FEDERAL RESERVE STATISTICAL RELEASES
AVAILABLE ON THE COMMERCE DEPARTMENT'S
ECONOMIC BULLETIN BOARD
Symbols and Abbreviations
c
e
n.a.
n.e.c.
p
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
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
GDP
GNMA
GSE
HUD
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
Gross domestic product
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
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 • December 2005
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q4
Q1
Q2
Q3
May
2.7
-8.0
-9.6
-9.8
2.9
-18.0
-14.7
-18.2
1.5
20.8
14.7
18.0
5.1
-.5
1.7
5.9
-2.0
3.9
8.3
11.0 p
.2
5.3
5.4
17.3
Aug.
Sept.
-14.9
-14.3
-19.5
.9
-40.6
-39.2
-39.3
3.6
31.9
21.1
33.0
4.2
.8'
6.1
10.6
-17.5
1.7
3.5
14.8
5.4
12.5
-6.7
6.1
11.8
-2.6
15.6
7.5
19.8
6.9
7.1
2.9
26.9
9.5
23.1
2
1
2
3
4
Reserves of depository institutions
Total
Required
Nonborrowed
Monetary base3
3.3
1.9
4.5
4.7
2.1
3.5
2.9
3.7
5.7
5.8
.5
4.0
5.5
5.8
.4
4.9
8.8
14.7
11.6
7.2
6.3
6.7
14.5
32.2
21.5
21.2
5.5
18.6
16.1
-11.2
24.0p
.8
8.9
22.2'
27.8
9.8
18.2
-12.6
.7
14.4'
48.2
11.9
13.4
29.3
1.6
3.7
35.1
-1.2
15.0
45.4
-8.7
22.4
44.9
-3.8
21.7
33.7
-2.8
25.7
17.2
-1.0
20.7
40.8
-8.2
17.9
26.7
1.1
25.5
39.1
-7.1
20.4
37.9
Money market mutual funds
16 Retail10
17 Institution-only
-9.5
-11.9
-5.0
-1.3
4.0
-1.4
14.4
-3.6
-3.2
-5.1
19.2
.2
-10.0
10.3
-6.2
16.2
12.9
29.0
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
-15.9
34.8
-16.9
25.7
9.3
20.7
19.9
16.7
74.8
30.8
-12.1
30.9
20.2
22.3
Concepts of money*
5 Ml
6 M2
7 M3
Nontransaction components
8 In M2S
9 In M3 only1"
Time and savings deposits
Commercial banks
Savings, including MMDAs . . .
Small time7
Large times>9
Thrift institutions
13
Savings, including MMDAs . . .
14
Small time7
15 Large times
10
11
12
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
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.
-3.1
-3.1
-4.2
2.3
.7
23.4
1.1
21.6
-11.8
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.
5. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances, each seasonally adjusted separately.
6. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted separately.
7. 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.
8. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
9. 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.
10. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Money Stock and Bank Credit
1.11
5
RESERVE BALANCES OF DEPOSITORY INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
Aug.
Sept.
Aug. 17
Aug. 24
Aug. 31
Sept. 7
Sept. 14
Sept. 21
Sept. 28
794,953
724,710
724,710
265,015
437,374
19,533
2,788
0
29,935
419
166
15
237
-287
40,176
11,041
2,200
36,528
794,051
727,297
727,297
266,407
438,573
19,533
2,783
0
27,129
436
139
0
297
-316
39,505
11,041
2,200
36,429
800,252
733,198
733,198
268,303
442,168
19,863
2,864
0
27,552
346
17
12
318
793,708
726,345
726,345
266,259
437,771
19,533
2,782
0
26,857
445
155
0
290
39,046
11,041
2,200
36,429
40,038
11,041
2,200
36,429
791,426
728,553
728,553
267,329
438,905
19,533
2,785
0
25,107
333
16
0
317
-535
37,969
11,041
2,200
36,429
797,801
730,700
730,700
267,623
440,756
19,533
2,788
0
28,714
332
6
0
326
-364
38,419
11,041
2,200
36,429
799,277
730,411
730,411
267,780
440,292
19,533
2,805
0
30,250
321
20
0
301
-452
38,747
11,041
2,200
36,429
800,564
732,393
732,393
267,814
441,808
19,919
2,852
0
28,036
312
3
0
309
820
39,004
11,041
2,200
36,429
800,412
733,363
733,363
267,906
442,593
19,983
2,880
0
27,614
322
1
0
321
-1
39,114
11,041
2,200
36,429
800,580
735,727
735,727
269,299
443,540
19,983
2,905
0
24,857
350
12
0
339
351
39,294
11,041
2,200
36,429
763,598
26,618
26,618
0
240
763,504
24,257
24,257
0
253
767,877
24,996
24,996
0
254
763,818
25,370
25,370
0
250
762,757
24,037
24,037
0
253
762,858
24,971
24,971
0
266
768,957
25,215
25,215
0
261
769,108
25,235
25,235
0
254
767,077
24,535
24,535
0
252
766,619
24,768
24,768
0
252
13,940
4,789
110
8,747
8,747
0
295
29,757
10,567
14,266
4,979
89
8,895
8,894
1
304
30,800
10,642
14,285
5,338
99
8,580
8,580
0
268
31,159
11,352
14,333
4,805
94
9,118
9,115
3
316
30,893
8,714
14,305
5,181
87
8,721
8,721
0
316
30,787
8,958
13,974
4,909
87
8,717
8,717
0
261
30,988
14,414
14,110
4,786
142
8,884
8,884
0
298
31,357
9,047
14,230
4,973
91
8,882
8,882
0
284
31,283
10,124
14,878
6,319
82
8,237
8,237
0
240
30,981
12,358
13,936
5,366
84
8,236
8,236
0
249
31,062
13,613
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 .
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
Wednesday figures
End-of-month figures
July
Sept.
Aug. 17
Aug. 24
Aug. 31
Sept. 7
Sept. 14
Sept. 21
Sept. 28
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 . .
799,982
724,699
724,699
265,015
437,374
19,533
2,777
0
35,500
273
17
0
257
-1,211
40,721
11,041
2,200
36,429
805,144
730,380
730,380
267,766
440,292
19,533
2,789
0
35,500
336
22
0
314
728
38,200
11,041
2,200
36,429
801,657
736,360
736,360
269,758
443,697
19,983
2,921
0
25,750
910
240
355
316
-311
38,949
11,041
2,200
36,429
795,719
727,339
727,339
266,259
438,764
19,533
2,783
0
28,500
1,234
924
0
310
751
37,896
11,041
2,200
36,429
793,751
729,579
729,579
267,508
439,752
19,533
2,786
0
26,000
346
12
0
334
-351
38,177
11,041
2,200
36,429
805,144
730,380
730,380
267,766
440,292
19,533
2,789
0
35,500
336
22
0
314
728
38,200
11,041
2,200
36,429
802,274
730,418
730,418
267,780
440,292
19,533
2,813
0
31,500
331
25
0
305
1,225
38,800
11,041
2,200
36,429
804,964
733,268
733,268
267,826
442,593
19,983
2,865
0
32,000
333
13
0
321
266
39,097
11,041
2,200
36,429
794,292
733,388
733,388
267,922
442,593
19,983
2,889
0
20,250
329
1,051
39,273
11,041
2,200
36,429
805,399
736,082
736,082
269,487
443,697
19,983
2,914
0
30,250
353
17
0
336
-616
39,329
11,041
2,200
36,429
762,035
27,480
27,480
0
252
765,723
26,487
26,487
0
262
766,482
26,920
26,920
0
237
764,681
23,503
23,503
0
250
763,446
24,114
24,114
0
267
765,723
26,487
26,487
0
262
770,725
25,154
25,154
0
255
769,018
25,960
25,960
0
252
767,373
23,991
23,991
0
254
768,059
23,811
23,811
0
237
14,119
5,064
83
8,674
8,674
0
297
30,326
15,442
14,714
5,650
81
8,717
8,717
0
265
30,748
16,880
13,636
4,381
96
8,864
8,864
0
295
31,015
13,037
15,184
5,669
78
9,118
9,115
3
319
30,553
11,217
13,700
4,603
80
8,721
8,721
0
296
30,609
11,285
14,714
5,650
81
8,717
8,717
0
265
30,748
16,880
13,725
4,445
82
8,884
8,884
0
314
31,016
11,069
14,542
5,319
83
8,882
8,882
0
258
30,807
14,055
14,279
5,718
83
8,237
8,237
0
240
30,779
7,287
13,041
4,479
83
8,236
8,236
0
243
30,719
19,202
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
Federal Reserve Bulletin Statistical Supplement • December 2005
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averages of biweekly averages
Reserve classification
1
2
3
4
5
6
7
8
9
10
11
12
Reserve balances with Reserve Banks2
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Primary
Seasonal
Adjustment
2005
2002
2003
2004
Dec.
Dec.
Dec.
Mar.
Apr.
May
June
July
Aug.
Sept.
9,926
43,362
30,347
13,016
40,272
38,263
2,009
10,861
44,063
32,086
11,976
42,947
41,906
1,040
12,047
47,261
34,803
12,458
46,850
44,940
1,909
12,060
46,740
33,973
12,767
46,033
44,251
1,782
12,965
45,330
33,710
11,620
46,675
45,006
1,669
12,046
45,590
34,431
11,159
46,477
44,955
1,522
11,249
46,238
34,850
11,387
46,100
44,325
1,774
10,882
47,235
35,593
11,642
46,475
44,743
1,732
10,368
48,119
34,495
13,624
44,863
43,240
1,623
11,156
47,194
34,466
12,727
45,622
43,568
2,055
80
46
17
0
29
63
11
0
52
49
13
0
37
132
52
0
80
139
6
0
133
249
85
0
164
425
176
12
237
362
63
3
297
332
12
5
315
45
35
B
weekly a\ erages of daily igures for two- A-eek periods ending on dates indict ted
2005
1
2
3
4
5
6
7
8
u
10
12
Reserve balances with Reserve Banks2
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Secondary
June 8
June 22
July 6
July 20
Aug. 3
Aug. 17
Aug. 31
Sept. 14
Sept. 28
Oct. 12
11,879
45,124
34,036
11,089
45,914
44,093
1,821
10,901
45,810
34,539
11,272
45,440
43,809
1,630
11,230
48,100
36,211
11,889
47,441
45,461
1,979
9,361
46,924
34,279
12,645
43,639
42,315
1,324
12,628
47,160
36,930
10,231
49,558
47,442
2,116
8,579
49,267
32,862
16,405
41,441
40,118
1,323
11,673
47,177
35,606
11,571
47,278
45,461
1,817
9,583
46,804
32,447
14,358
42,029
40,256
1,773
12,983
47,196
36,729
10,467
49,712
47,412
2,300
9,385
49,903
32,763
17,140
42,148
39,847
2,300
154
7
0
148
171
18
0
153
480
279
0
201
321
90
0
232
527
230
34
264
357
79
0
279
333
317
12
0
305
336
7
0
330
415
59
76
280
0
322
Adjustment
1. Data in this table also appear in the Board's H.3 (502) weekly statistical release,
available at www.federalreserve.gov/releases. Data are not break-adjusted or seasonally
adj usted.
2. Excludes required clearing balances and adjustments to compensate for float and
includes other off-balance-sheet "as-of' adjustments.
3. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by
those banks and thrift institutions that are not exempt from reserve requirements. Dates
refer to the maintenance periods in which the vault cash can be used to satisfy reserve
requirements.
4. All vault cash held during the lagged computation period by "bound" institutions (that
is, those whose required reserves exceed their vault cash) plus the amount of vault cash
applied during the maintenance period by "nonbound" institutions (that is, those whose vault
cash exceeds their required reserves) to satisfy current reserve requirements.
5. Total vault cash (line 2) less applied vault cash (line 3).
6. Reserve balances with Federal Reserve Banks (line 1) plus applied vault cash (line 3).
7. Total reserves (line 5) less required reserves (line 6).
Policy Instruments
1.14
1
FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
1
Secondary credit2
Primary credit
Federal Reserve
Bank
Boston
Vew York
Philadelphia
Cleveland
Richmond
Atlanta
On
12/16/05
Effective date
Previous rate
On
12/16/05
Effective date
Previous rate
On
12/16/05
Effective date
Previous rate
5.25
12/13/05
12/13/05
12/13/05
12/13/05
12/13/05
12/13/05
5.00
5.75
12/13/05
12/13/05
12/13/05
12/13/05
12/13/05
12/13/05
5.50
4.20
12/8/05
4.15
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
i
12/13/05
12/14/05
12/13/05
12/13/05
12/13/05
12/13/05
i
5.25
'
5.00
5.75
1
12/13/05
12/14/05
12/13/05
12/13/05
12/13/05
12/13/05
i
1
1
5.50
4.20
12/8/05
4.15
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)
Effective date
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
In effect December 16, 2005 . . .
2
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
3.50
3.50-3.75
3.75
3.75^1.00
4.00
4.00^1.25
4.25
4.25^1.50
4.50
4.50^1.75
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
5.25
5.25
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
Effective date
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
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
4.00^1.50
4.00
3.50^1.00
3.50
5.75
5.50
5.50
5.00
5.00
4.50
4.50
4.00
4.00
3.50
3.50
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 • December 2005
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Net transaction accounts^
1 $0 million-$7.8 million2
2 More than $7.8 million-$48.3 million3
3 More than $48.3 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
12/22/05
12/22/05
12/22/05
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
9
1.17 FEDERAL RESERVE OPEN MARKET TRANSACTIONS1
Millions of dollars
Type of transaction
and maturity
Apr.
May
July
63,637
63,637
1,760
0
70,894
70,894
0
250
0
91,408
91,408
0
0
0
68,438
68,438
0
2,751
0
66,899
66,899
0
U.S. TREASURY SECURITIES2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Outright transactions
Treasury bills
Gross purchases
Gross sales
Exchanges
For new bills
Redemptions
Others within one year
Gross purchases
Gross sales
Maturity shifts
Exchanges
Redemptions
One to five years
Gross purchases
Gross sales
Maturity shifts
Exchanges
Five to ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
More than ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
All maturities
Gross purchases
Gross sales
Redemptions
26 Net change in U.S. Treasury securities . . .
21,421
0
657.931
657,931
0
738,886
738,886
18,138
0
821,685
821,685
0
66,741
66,741
0
0
78,822
78,822
0
12,720
0
89,108
-92,075
0
6,565
0
96,433
-103,153
7,994
0
103,380
-118,373
0
0
2,989
-12,710
0
0
8,334
-8,000
211
0
0
0
0
0
0
23,149
-26,036
0
0
0
7,997
-6,667
1,305
0
0
0
0
0
1,298
0
26,261
-18,253
757
12,748
0
-73,093
88,276
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
0
3,180
11,498
0
0
-8,334
8,000
1,200
0
0
0
2,295
0
-19,402
23,565
0
0
-7,997
6,667
0
0
0
0
1,390
0
-20,702
16,781
5,074
0
-11,588
3,800
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
-3,112
1,212
0
0
0
0
470
0
0
0
0
-1,277
2,471
340
0
0
0
0
0
0
0
0
-2,919
1,472
2,280
0
-4,427
0
220
0
-8,938
1,364
0
-10,524
0
0
0
0
0
230
0
0
0
0
-2,471
785
0
0
0
0
0
0
0
0
0
-2,640
0
54,242
0
0
36,856
0
50,507
0
0
0
0
211
1,900
0
4,953
0
1,375
0
1,305
0
0
0
6,427
0
757
54,242
36,856
1,900
4,953
1,153,876
1,518,638
1,887,650
125,250
120,250
201,500
204,250
163,500
167,000
186,250
179,000
173,250
173,500
201,750
200,750
200,750
200,750
4,942,131
4,946,691
5,621,153
5,626,285
490,482
488,781
581,322
580,402
505,211
507,649
547,538
546,380
526,972
527,769
531,351
532,647
555,779
554,786
0
0
-3,058
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
4,981,624
4,958,437
231,272
252,363
37 Net change in temporary transactions
-8,653
-310
-15,882
6,700
-1,831
-5,938
8,408
-1,047
-297
993
38 Total net change in System Open Market Account
45,589
36,536
34,626
6,402
-2,041
-4,038
13,361
-977
-297
6,662
1. Sales, redemptions, and negative figures reduce holdings of the System Open Market
Account; all other figures increase such holdings.
2. Transactions exclude changes in compensation for the effects of inflation on the
principal of inflation-indexed securities. Transactions include the rollover of inflation compensation into new securities.
3. Cash value of agreements, which are collateralized by U.S. government and federal
agency obligations.
4. Cash value of agreements, which are collateralized by U.S. Treasury securities.
10
1.18
Federal Reserve Bulletin Statistical Supplement • December 2005
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
Sept. 7
Sept. 14
Sept. 21
Sept. 28
July
Aug.
Sept.
11,037
2,200
726
763,020
736,360
736,360
269,758
443,697
19,983
2,921
0
25,750
910
4,937
1,842
37,132
19,380
17,753
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
659
766,216
730,380
730,380
267,766
440,292
19,533
2,789
0
35,500
336
7,080
1,834
36,458
19,790
16,668
11,037
2,200
655
762,249
730,418
730,418
267,780
440,292
19,533
2,813
0
31,500
331
9,775
1,832
37,018
19,955
17,063
11,037
2,200
667
765,601
733,268
733,268
267,826
442,593
19,983
2,865
0
32,000
333
7,194
1,834
37,384
19,801
17,583
11,037
2,200
700
753,968
733,388
733,388
267,922
442,593
19,983
2,889
0
20,250
11,037
2,200
644
760,472
724,699
724,699
265,015
437,374
19,533
7,928
1,839
37,595
19,657
17,938
11,037
2,200
708
766,685
736,082
736,082
269,487
443,697
19,983
2,914
0
30,250
353
6,193
1,838
37,497
19,341
18,156
35,500
273
3,774
1,827
38,954
19,476
19,478
11,037
2,200
659
766,216
730,380
730,380
267,766
440,292
19,533
2,789
0
35,500
336
7,080
1,834
36,458
19,790
16,668
825,483
824,766
825,917
815,266
826,159
818,908
825,483
820,894
730,211
26,487
31,698
25,702
5,650
81
265
6,339
3,561
735,201
25,154
24,846
20,005
4,445
82
314
8,549
3,645
733,504
25,960
28,718
23,058
5,319
83
258
6,928
3,751
731,894
23,991
21,709
15,667
5,718
83
240
6,894
3,745
732,570
23,811
32,607
27,802
4,479
83
243
6,452
3,829
726,497
27,480
29,626
24,182
5,064
83
297
4,979
3,368
730,211
26,487
31,698
25,702
5,650
81
265
6,339
3,561
731,011
26,920
26,698
21,927
4,381
96
295
5,249
3,947
798,297
797,395
798,861
788,233
799,269
791,950
798,297
793,826
13,402
11,630
2,155
13,403
11,630
2,338
13,297
11,630
2,129
13,302
11,630
2,102
13,306
11,623
1,961
13,389
11,513
2,056
13,402
11,630
2,155
13,307
11,630
2,132
27,186
27,371
26,890
26,958
1,469,799
1,100,713
369,086
4,655
1,465,764
1,097,542
368,222
5,376
1,466,811
1,087,464
379,347
5,930
1,457,526
1,095,695
361,831
3,827
mi
o
LIABILITIES
20
21
22
23
24
25
26
27
28
Federal Reserve notes, net of F.R. Bank holdings
Reverse repurchase agreements5
Deposits
Depository institutions
U.S. Treasury, general account
Foreign official
Other
Deferred availability cash items
Other liabilities and accrued dividends9
29 Total liabilities
CAPITAL ACCOUNTS
30 Capital paid in
31 Surplus
32 Other capital accounts
27,068
33 Total capital
MEMO
34 Marketable securities held in custody for foreign official
and international accounts3'10
35
U.S. Treasury
36
Federal agency
37 Securities lent to dealers
1,459,821
1,086,811
373,011
5,412
1,460,212
1,084,779
375,433
5,888
1,469,799
1,100,713
369,086
4,655
1,460,798
1,080,684
380,114
5,732
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
885,896
886,271
886,582
888,632
890,029
875,153
885,896
890,662
155,686
730,211
730,211
11,037
2,200
716,974
0
151,070
735,201
735,201
11,037
2,200
721,965
0
153,078
733,504
733,504
11,037
2,200
720,267
0
156,738
731,894
731,894
11,037
2,200
718,657
0
157,458
732,570
732,570
11,037
2,200
719,334
0
148,656
726,497
726,497
11,037
2,200
713,260
0
155,686
730,211
730,211
11,037
2,200
716,974
0
159,651
731,011
731,011
11,037
2,200
717,775
0
765,880
761,918
765,268
753,638
766,332
760,199
765,880
762,110
26,513
25,178
25,984
24,011
23,829
27,518
26,513
26,955
739,367
736,740
739,284
729,627
742,503
732,681
739,367
735,154
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
Aug. 31
Sept. 7
Sept. 14
Sept. 21
Sept. 28
July
Sept.
1 Total loans
2 Within 15 days
3 16 days to 90 days
4 91 days to 1 year
329
25
0
225
49
278
58
807
733,388
736,082
724,699
730,380
736,360
58,604
155,983
174,748
214,351
52,588
77,115
58,488
155,823
176,589
215,465
52,592
77,125
39,519
174,767
169,655
209,724
52,887
78,148
52,781
155,418
180,980
211,783
52,433
76,985
34,338
173,327
184,920
214,053
52,593
77,128
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
31,500
32,000
20,250
30,250
35,500
35,500
25,750
31,500
0
32,000
0
20,250
0
30,250
0
35,500
0
35,500
0
25,750
0
25,960
23,991
23,811
25,960
0
23,991
0
23,811
0
278
58
0
100
231
0
61
272
730,380
730,418
733,268
52,781
155.418
180,980
211,783
52,433
76,985
52,350
162,436
174,407
211,793
52,437
76,996
52,446
162,236
174,557
214,341
52,583
77,104
0
0
0
0
0
0
0
0
0
0
0
0
19 Total repurchase agreements2
35,500
20 Within 15 days
35,500
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"
26,487
26,487
25,154
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.
103
0
26,487
27,480
0
26,487
0
26,920
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • December 2005
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2001
Dec.
2002
Dec.
2003
Dec.
2004
Dec.
Apr.
May
July
Aug.
Sept.
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
41.50
41.43
39.85
635.41
40.44
40.36
38.43
681.30
42.77
42.72
41.73
719.85
46.80
46.74
44.89
758.60
45.96
45.92
44.47
764.31
46.81
46.76
45.03
766.51
46.59
46.45
44.92
767.42
45.89
45.75
44.36
768.40
46.68
46.43
44.91
771.68
46.10
45.68
44.37
772.24
44.54
44.18
42.92
774.59
45.73
45.39
43.67
777.28
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
41.18
41.11
39.53
639.91
40.13
40.05
38.12
686.23
42.45
42.41
41.41
725.20
46.52
46.46
44.61
764.66
46.69
46.65
45.20
763.23
45.99
45.95
44.21
764.70
46.61
46.47
44.94
766.32
46.38
46.24
44.86
766.94
45.99
45.74
44.22
770.91
46.34
45.92
44.61
773.70
44.70
44.34
43.08
773.68
45.45
45.11
43.39
776.99
41.06
40.99
39.41
648.74
1.65
.07
40.27
40.19
38.26
697.15
2.01
.08
42.95
42.90
41.91
737.62
1.04
.05
46.85
46.79
44.94
774.77
1.91
.06
46.72
46.68
45.22
772.48
1.50
.04
46.03
45.98
44.25
773.85
1.78
.05
46.68
46.54
45.01
775.32
1.67
.13
46.48
46.34
44.96
775.69
1.52
.14
46.10
45.85
44.33
779.56
1.77
.25
46.48
46.05
44.74
782.53
1.73
.43
44.86
44.50
43.24
782.68
1.62
.36
45.62
45.29
43.57
785.68
2.06
.33
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
2001
Dec.
2002
Dec.
2003
Dec.
2004
Dec.
Aug.
Sept.
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,182.0
5.451.1
8,037.2
1,219.2
5,802.9
8,575.6
1,305.1
6,085.2
8,885.3
1,373.5
6,430.7
9,450.5
1,374.4
6,515.6
9,748.2
1,354.3
6,525.1
9,776.8'
1,371.0
6,554.4
9,878.8'
1,363.4
6,587.9
9,976.2
581.1
8.0
335.3
257.6
626.1
7.8
305.8
279.4
662.1
7.7
324.8
310.4
696.9
7.6
340.7
328.3
708.9
7.3
339.2
318.9
709.3
7.3
321.2
316.5
712.4
7.4
331.8
319.4
715.4
7.4
322.4
318.3
4,269.1
2,586.1
4,583.7
2,772.7
4,780.1
2,800.1
5,057.2
3,019.8
5,141.2
3,232.6
5,170.8
3,251.6
5,183.4
3,324.4
5,224.5
3,388.3
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
1,740.0
634.4
686.8
2,062.0
589.7
697.0
2,340.5
536.0
761.9
2,638.4
544.1
907.1
2,670.2
601.3
1,036.3
2,691.9
610.4
1,025.4
2,693.4
617.7'
1,066.6
2,720.1
624.6
1,092.6
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
573.6
338.8
114.3
718.5
302.1
117.0
832.6
273.1
120.0
890.9
271.2
160.0
866.7
301.2
197.9
860.8
305.7
202.3
861.6
312.2
208.9
856.5
317.5
215.5
982.4
1,197.4
911.4
1,250.5
798.0
1,120.7
712.6
1,072.7
701.9
1,069.2
702.0
1,078.4
698.4
1,093.0
705.9
1,119.4
375.8
211.8
476.8
231.5
500.6
297.0
497.3
382.6
499.3
429.8
507.7
437.8
517.6
438.2
526.9
433.9
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
1,208.3
5,485.1
8,104.9
1,245.2
5,832.2
8,634.5
1,332.2
6,112.0
8,929.7
1,401.4
6,454.5
9,481.5
1,377.8'
6,522.8
9,764.3
1,357.1'
6,541.8
9,774.7
1,368.3
6,563.0
9,876.1
1,354.4
6,593.7
9,956.7
585.2
7.9
354.2
261.0
630.3
7.7
323.5
283.8
666.7
7.6
342.8
315.0
702.4
7.5
358.8
332.7
708.5
7.4
340.0
321.8
711.4
7.5
322.2
315.9
712.1
7.5
329.7
319.0
713.9
7.4
319.1
314.0
Nontransaction components
27 In M27
28 In M3 onlys
4,276.8
2,619.8
4,587.0
2,802.3
4,779.8
2,817.7
5,053.1
3,027.0
5,145.0
3,241.5
5,184.8
3,232.9
5,194.7
3,313.1
5,239.3
3,363.0
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
1,742.5
635.2
690.1
2,061.0
590.4
699.0
2,337.3
536.5
762.7
2,632.8
544.6
907.1
2,677.9
600.3
1,047.0
2,706.7
609.4
1,030.4
2,701.4
616.8
1,068.3
2,732.3
624.0
1,091.5
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
574.4
339.2
114.8
718.2
302.4
117.3
831.5
273.3
120.1
889.0
271.4
160.0
869.2
300.7
200.0
865.6
305.2
203.3
864.1
311.7
209.3
860.3
317.1
215.3
985.5
1,228.1
915.1
1,280.8
801.2
1,143.8
715.2
1,089.9
696.9
1,059.0
697.9
1,066.2
700.6
1,087.8
705.5
1,103.7
376.5
210.3
476.4
228.8
498.2
292.8
493.1
377.0
512.9
422.7
504.8
428.2
515.9
431.8
524.0
428.5
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 appear on following page.
14
Federal Reserve Bulletin Statistical Supplement • December 2005
NOTES TO TABLE 1.21
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
Nov.
2005
2005
2004
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 9
Nov. 16
Nov. 23
Nov. 30
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
6.759.8
1,924.8
1,145.4
779.5
4.834.9
915.7
2.523.9
394.4
2.129.5
685.6
236.8
472.9
354.8
318.7
648.2
7.166.2
2,071.5
1,199.9
871.6
5.094.8
986.5
2.689.7
425.8
2.263.9
704.4
237.5
476.7
287.8
329.3
677.5
7.220.8
2,055.1
1,172.3
882.8'
5.165.7
992.1
2.732.8
430.1
2.302.7
707.0
248.7
485.2
268.7
333.7
694.2
7.274.9'
2,062.1'
1,176.1
886.0'
5.212.8'
1,006.1
2,781.1
437.8'
2 343.3
710.4
232.7'
482.6
260.9
327.7'
680.6
7.350.2'
2,066.6'
1,172.5
894.1'
5.283.6
1,015.0
2,814.8
439.1
2.375.7
717.0
245.2
491.6
275.9
324.2'
688.5
7.395.8'
2,079.4'
1,164.3
915.1
5.316.5'
1,022.3
2,823.8
438.1
2.385.6
719.6
246.2
504.6
283.7
327.4'
697.7
7.407.0
2,071.8
1,156.6
915.2
5.335.2'
1,029.3
2,846.0
436.3
2.409.8
708.4
241.2
510.2
281.8
316.7'
706.7
7.430.8
2,065.9
1,139.4
926.6
5.364.8
1,037.3
2,858.5
436.3
2.422.2
709.5
246.0
513.6
294.5
309.0
714.5
7.407.9
2,065.8
1,138.4
927.4
5.342.1
1,031.3
2,858.3
436.9
2.421.4
709.1
239.7
503.6
290.0
301.1
716.5
7.430.5
2,069.6
1,143.3
926.3
5.361.0
1,036.2
2,853.8
435.4
2.418.4
714.1
247.3
509.6
287.6
302.1
710.3
7.465.9
2,068.5
1,140.4
928.1
5.397.3
1,043.2
2,863.5
436.7
2.426.8
708.7
253.2
528.7
307.7
327.5
713.0
7.428.9
2,062.7
1,135.5
927.2
5.366.1
1,040.5
2,861.4
436.1
2.425.2
705.8
244.8
513.7
294.3
304.4
719.7
8,010.4
8,392.9
8,449.6
8,476.3'
8,570.8'
8,636.1
8,643.7
8,680.3
8,646.7
8,661.9
8,745.7
8,679.3
5.291.8
670.1
4.621.7
1,182.4
3,439.3
1,590.4
430.1
1,160.3
15.7
493.3
5.517.1
677.6
4.839.5
1,299.4
3.540.1
1,628.3
369.7
1,258.6
58.6
488.3
5.561.7
694.9
4.866.8
1,321.0
3,545.8
1,628.1
369.3
1,258.8
41.0
493.0
5.583.5
661.6
4.921.8'
1,318.5
3,603.4
1,620.2
347.3
1,272.9
98.9
483.1
5.655.1'
685.9
4.969.2
1,364.5
3,604.7'
1,667.7
350.3
1,317.4
64.7
482.8
5.683.5
671.7
5.011.8'
1,387.4
3,624.4'
1,674.5
354.7
1,319.8
66.4
499.4
5.695.4
654.0
5.041.4
1,406.8
3,634.6
1,665.7
346.3
1,319.4
88.4
497.2
5.716.5
669.4
5.047.2
1,402.1
3,645.1
1,695.7
363.9
1,331.8
70.2
498.3
5.685.9
613.6
5.072.2
1,413.8
3,658.4
1,685.7
356.0
1,329.6
75.9
501.2
5.714.8
650.4
5.064.3
1,398.1
3,666.3
1,684.0
362.9
1,321.1
62.9
501.2
5.756.3
733.2
5.023.1
1,398.6
3,624.5
1,722.1
365.2
1,357.0
74.2
489.5
5.712.5
692.6
5.019.9
1,396.6
3,623.3
1,694.8
372.4
1,322.3
68.1
499.9
7,391.3
7,692.3
7,723.8
7,785.6
7,870.3
7,923.8
7,946.7
7,980.7
7,948.6
7,962.9
8,042.2
7,975.4
619.1
700.6
725.8
697.0
699.6
698.1
699.0
703.5
704.0
690.7'
700.5'
712.4'
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.
6,794.8
1,933.5
1.153.1
780.4
4.861.3
915.6
2.540.3
394.4
2.145.9
690.0
294.9
395.1
242.0
473.2
358.5
328.6
650.6
7,157.8
2,074.9
1.208.2
866.8
5.082.9
990.8
2.689.4
426.7
2.262.8
698.5
303.1
395.3
229.4
474.8
288.3
324.3
677.2
7,215.0
2,056.8
1.176.1
880.8
5.158.2
994.9
2.726.8
431.5
2.295.3
699.8
306.5
393.3
248.7
488.0
269.2
325.8
690.3
7,255.8'
2,056.2'
1.174.7
881.5'
5.199.6
1,004.7
2,775.8
438.6
2.337.2
702.9
308.0
394.9
229.7
486.6
257.8
322.2'
681.8
7,335.9'
2,065.0'
1.168.7
896.3'
5.270.9
1,009.6
2,816.6
440.5
2.376.1
713.6
308.6
405.0
237.6
493.4
275.5
314.6'
690.6
7,397.9'
2,076.0
1.157.4'
918.5'
5.322.0'
1,018.8
2,831.9
440.0
2.391.9
721.1
311.3
409.8
241.5
508.7
278.3
329.2'
700.5
7,420.3
2,069.9
1.151.8
918.1
5.350.4
1,027.7
2,855.3
437.4
2.418.0
711.0
302.7
408.4
243.5
512.9
278.6
322.0
710.2
7,468.5
2,075.4
1.147.8
927.7
5.393.0
1,037.2
2,877.0
436.3
2.440.7
714.2
309.0
405.2
251.1
513.5
297.7
318.8
717.1
7,447.3
2,073.3
1.143.9
929.4
5,374.1
1,031.1
2.880.1
437.2
2.442.9
712.7
303.9
408.8
247.2
502.9
295.1
302.6
724.8
7,467.2
2,078.3
1.150.4
927.9
5.388.9
1,036.2
2,874.3
435.8
2.438.5
718.3
310.3
408.0
249.4
510.6
293.6
321.2
714.0
7,494.6
2,077.9
1.150.6
927.3
5.416.7
1,042.3
2,880.5
436.6
2.443.9
714.2
311.6
402.6
254.7
524.9
301.7
325.0
706.8
7,473.6
2,075.4
1.147.4
928.1
5.398.1
1,040.8
2,877.3
435.4
2.441.9
711.5
310.7
400.8
253.1
515.5
300.0
325.8
722.2
8,061.6
8,379.7
8,432.4
8,449.9
8,548.5'
8,637.4
8,663.3'
8,733.7
8,701.4
8,727.4
8,759.9
8,753.6
5.302.5
676.0
4.626.6
1,172.7
3,453.9
1,583.3
427.5
1,155.8
25.0
506.0
5.508.4
668.0
4.840.4
1,309.1
3,531.3
1,646.6
370.3
1,276.2
54.2
483.8
5.562.9
687.5
4.875.5
1,328.7
3,546.8
1,639.8
368.8
1,271.0
36.7
488.5
5.567.3'
659.1
4.908.2
1,315.1
3,593.1'
1,621.6
347.1
1,274.5
90.2
474.0
5.632.7
667.3
4.965.4
1,355.7
3,609.7
1,662.1
351.9
1,310.2
64.5
482.7
5.673.1
663.7
5.009.4
1,374.1
3,635.3
1,678.7
355.0
1,323.8
70.8
504.3
5.687.7'
652.9'
5.034.8
1,388.5
3,646.3
1,662.8
346.3
1,316.4
95.3
504.2
5.727.3
675.7
5.051.7
1,391.6
3.660.1
1,688.3
361.8
1,326.5
82.1
510.9
5.707.1
606.0
5.101.1
1,403.3
3,697.8
1,681.4
355.9
1,325.5
85.3
511.6
5.739.9
662.9
5.077.0
1,386.4
3,690.5
1,679.5
361.1
1,318.5
72.8
512.1
5.734.1
727.6
5.006.5
1,389.5
3,617.0
1,705.1
360.4
1,344.7
90.3
505.6
5,732.0
718.4
5.013.6
1,387.4
3,626.2
1,688.0
370.2
1,317.7
80.7
513.2
7,416.9
7,693.0
7,727.9
7,753.2
7,842.1
7,927.0
7,949.9'
8,008.6
7,985.5
8,004.3
8,035.0
8,013.9
644.7
686.7
704.5
696.7'
706.4'
710.4
725.1
715.9
723.1
724.9
739.7
713.4
16
Federal Reserve Bulletin Statistical Supplement • December 2005
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
Nov.
2005
2005
2004
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 9
Nov. 16
Nov. 23
Nov. 30
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
6,078.1
1,641.9
1,055.4
586.4
4,436.2
779.9
2,505.7
394.4
2 111.3
685.6
88.6
376.5
304.5
256.9
611.8
6,441.5
1,757.3
1,112.9
644.4
4,684.3
831.7
2,671.3
425.8
2,245.6
704.4
106.9
369.9
239.6
267.7
642.4
6,487.6
1,736.4
1,085.3
651.1
4,751.2
838.3
2,714.3
430.1
2,284.3
707.0
113.8
377.8
219.0
273.6
657.2
6,529.5
1,736.1
1,090.2
645.8
4,793.5
845.5
2,764.3
437.8'
2,326.5
710.4
103.5
369.8
209.8
267.1
644.1
6,579.2
1,732.1
1,087.4
644.7
4,847.1
850.5
2,798.1
439.1
2,359.0
717.0
103.4
378.1
227.0
262.8
651.8
6,608.6
1,727.5
1,078.7
648.8
4,881.1
858.4
2,807.0
438.1
2,368.9
719.6
107.9
388.2
233.5
267.5'
657.5
6,606.2
1,710.9'
1,074.0
636.8
4,895.3
865.3
2,824.4
436.3
2,388.2
708.4
103.7
393.5
233.8
260.3
667.6'
6,618.0
1,701.2
1,057.8
643.4
4,916.9
872.9
2,836.0
436.3
2,399.8
709.5
108.2
390.3
248.1
254.4
673.7
6,600.4
1,697.4
1,055.5
641.9
4,903.0
869.2
2,836.0
436.9
2,399.2
709.1
105.8
382.8
245.6
246.8
670.2
6,621.6
1,705.9
1,062.4
643.5
4,915.7
873.0
2,831.1
435.4
2,395.8
714.1
110.3
387.2
242.0
247.2
669.1
6,644.4
1,705.0
1,058.8
646.3
4,939.3
877.0
2,841.0
436.7
2,404.3
708.7
110.6
402.1
261.3
271.5
675.5
6,612.2
1,698.9
1,054.4
644.5
4,913.3
873.9
2,839.0
436.1
2,402.8
705.8
105.4
389.2
245.4
251.4
680.8
7,180.8
7,523.8
7,570.1
7,583.2
7,653.2
7,699.0
7,699.8
7,726.2
7,694.7
7,711.6
7,784.8
7,722.3
4,743.6
658.6
4,085.1
659.8
3,425.3
1,225.0
377.5
847.5
192.0
394.0
4,929.7
664.7
4,265.0
745.5
3,519.5
1,258.7
323.6
935.1
255.2
394.9
4,959.6
683.1
4,276.6
752.0
3,524.6
1,266.1
318.3
947.8
231.3
394.3
5,001.2'
650.0
4,351.3
768.4
3,582.8'
1,251.8
299.1
952.7
254.3
388.2
5,026.2'
673.5
4,352.7
770.7
3,581.9'
1,278.9
297.6
981.3
265.0
386.6
5,046.6
659.7'
4,386.9'
788.2
3,598.7'
1,290.0
304.6
985.5
258.6
393.2
5,051.8'
642.2
4,409.5
797.9
3,611.6
1,279.2
296.7
982.5
278.5
383.9
5,089.2
657.4
4,431.9
809.3
3,622.6
1,282.7
306.2
976.6
264.2
383.3
5,051.2
601.8
4,449.4
812.5
3,636.9
1,278.3
304.8
973.5
275.2
378.6
5,088.1
638.1
4,450.1
805.1
3,645.0
1,281.8
308.3
973.5
251.7
384.9
5,133.8
721.0
4,412.7
810.9
3,601.8
1,303.1
304.2
998.9
266.8
379.2
5,088.0
681.0
4,407.0
809.0
3,598.0
1,269.3
308.5
960.8
262.9
390.1
6,554.6
6,838.5
6,851.5
6,895.4'
6,956.7'
6,988.4
6,993.3
7,019.5
6,983.4
7,006.6
7,082.9
7,010.3
626.2
685.3
718.7
687.8'
696.5'
710.6
706.5
706.8
711.3
705.0
701.9
712.0
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.
6,111.6
1,650.5
1,063.1
587.4
4,461.0
780.5
2,522.1
394.4
2,127.7
1,078.1'
1,049.6'
690.0
294.9
395.1
89.7
378.7
308.3
266.8
614.9
6,435.8
1,760.7
1,121.2
639.6
4,675.0
836.0
2,671.1
426.7
2,244.4
1,116.7'
1,127.8'
698.5
303.1
395.3
102.0
367.4
240.1
263.3
641.5
6,481.6
1,738.1
1,089.1
649.0
4,743.5
841.5
2,708.4
431.5
2,276.8
1,133.9'
1,142.9'
699.8
306.5
393.3
114.9
379.0
219.6
266.2
653.3
6,513.5
1,730.1
1,088.8
641.3
4,783.4
844.9
2,759.0
438.6
2,320.4
1,161.0
1,159.4
702.9
308.0
394.9
104.0
372.6
206.7
262.3
646.4
6,573.8
1,730.5
1,083.6
646.9
4,843.4
846.9
2,799.9
440.5
2,359.4
1,187.9
1,171.5
713.6
308.6
405.0
104.3
378.6
226.6
253.1
654.2
6,617.6'
1,724.1
1,071.8
652.3
4,893.4
856.5
2,815.2
440.0
2,375.2
1,191.4
1,183.8
721.1
311.3
409.8
109.3
391.4
228.1
268.1
662.0
6,623.4
1,708.9
1,069.2
639.8
4,914.5'
865.7
2,833.7
437.4
2,396.4
1,200.6
1,195.8
711.0
302.7
408.4
107.2
396.7
230.6
264.6
672.2
6,655.2
1,710.7
1,066.2
644.5
4,944.5
873.6
2,854.6
436.3
2,418.3
1,212.9
1,205.3
714.2
309.0
405.2
109.4
392.7
251.3
264.2
677.1
6,636.2
1,704.9
1,061.1
643.9
4,931.3
870.4
2,857.8
437.2
2,420.7
1,218.8
1,201.9
712.7
303.9
408.8
106.4
383.9
250.7
248.8
678.7
6,660.1
1,714.6
1,069.5
645.1
4,945.5
873.8
2,851.7
435.8
2,415.8
1,210.4
1,205.4
718.3
310.3
408.0
111.2
390.5
248.0
266.1
673.9
6,676.6
1,714.4
1,069.0
645.4
4,962.2
876.7
2,858.0
436.6
2,421.4
1,213.5
1,207.9
714.2
311.6
402.6
111.5
401.9
255.3
269.9
670.3
6,653.8
1,711.6
1,066.2
645.4
4,942.2
874.4
2,854.9
435.4
2,419.5
1,211.3
1,208.2
711.5
310.7
400.8
107.4
394.0
251.1
271.9
684.0
7,231.0
7,513.2
7,553.2
7,561.6
7,640.2'
7,707.6
7,723.3
7,779.8
7,746.4
7,779.9
7,804.3
7,793.2
4,767.7
664.5
4,103.2
663.0
3,440.2
1,217.9
374.9
843.0
198.7
404.6
4,907.5
655.3
4,252.3
742.1
3,510.1
1,277.0
324.2
952.8
252.9
391.8
4,952.2
675.7
4,276.6
751.3
3,525.2
1,277.8
317.8
960.0
229.7
391.8
4,986.6'
647.5
4,339.2
766.5
3,572.6'
1,253.3
298.9
954.3
247.5
380.3
5,012.6
655.0
4,357.5'
770.3
3,587.2'
1,273.3
299.2
974.1
264.4
386.2
5,047.7
651.5'
4,396.2'
786.2
3,610.0'
1,294.2
304.9
989.4
261.3
396.8
5,065.3'
641.0'
4,424.3
800.3
3,624.0
1,276.3
296.8
979.5
282.5
388.6
5,115.4
663.8
4,451.6
813.4
3,638.1
1,275.3
304.1
971.2
273.2
393.6
5,089.5
594.4
4,495.1
818.2
3,676.9
1,274.1
304.7
969.4
282.6
387.1
5,129.9
650.5
4,479.4
809.5
3,669.8
1,277.3
306.4
970.9
258.8
393.6
5,124.7
715.7
4,408.9
814.2
3,594.8
1,286.1
299.4
986.7
279.1
392.3
5,120.2
706.8
4,413.5
812.0
3,601.5
1,262.5
306.3
956.2
272.4
401.1
6,588.9
6,829.3
6,851.5
6,867.7
6,936.5'
7,000.0
7,012.7
7,057.6
7,033.2
7,059.6
7,082.2
7,056.3
642.1
683.9
701.7
693.9'
707.6
710.6
722.3
713.1
720.3
722.1
736.9
703.6
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
Nov.
2005
2005
2004
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 9
Nov. 16
Nov. 23
Nov. 30
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.
3,391-V
930.6
561.2
45.7
515.5
410.6
104.8
369.5
202.1
167.3
33.5
133.9
2,461.0
459.3
1,262.0
280.3
981.7
614.9
366.8
384.4
80.9
3,570.2
1,031.4
611.5
53.9
557.6
458.3
99.3
419.9
218.7
201.1
36.8
164.3
2,538.8
489.2
1,302.4
299.8
1,002.6
623.1
379.5
382.0
98.4
3,588.8
1,019.4
591.2
51.0
540.2
440.8
99.3
428.3
224.0
204.3
36.6
167.7
2,569.4
492.2
1,318.2
300.1
1,018.0
634.0
384.0
380.0
105.1
3,608.9
1,021.6
597.7
49.4
548.3
449.0
99.3
423.9
214.9
209.0
37.6
171.4
2,587.3
493.0
1,352.0
303.1
1,048.9
658.1
390.8
381.9
94.6
3,640.4
1,016.3
594.2
46.7
547.4
447.6
99.8
422.2
211.9
210.3
37.8
172.5
2,624.0
495.3
1,375.8
303.5
1,072.2
677.0
395.2
385.7
94.3
3,663.6
1,016.0
588.3
36.8
551.5
449.6
101.9
427.7
213.2
214.5
38.1
176.4
2,647.6
500.1
1,381.5
303.5
1,078.0
678.8
399.2
386.8
98.3
3,673.5
1,010.3
588.1
41.6
546.5
444.5
102.0
422.1
203.5
218.7
37.5
181.2
2,663.2
507.1
1,391.4
305.0
1,086.4
684.2
402.2
384.8
93.9
3,670.6
1,002.1
572.3
42.3
530.0
434.8
95.2
429.8
204.0
225.8
37.9
187.9
2,668.5
510.5
1,396.3
304.1
1,092.2
690.6
401.6
382.3
98.0
3,653.3
996.0
568.3
48.0
520.3
426.7
93.6
427.8
204.2
223.6
37.8
185.8
2,657.3
507.7
1,396.1
305.2
1,090.9
691.1
399.8
382.8
96.1
3,672.0
1,006.8
577.8
44.4
533.3
436.7
96.6
429.0
204.2
224.8
37.8
187.1
2,665.2
510.6
1,390.8
303.4
1,087.4
686.0
401.4
385.3
100.2
3,692.4
1,005.3
574.1
39.4
534.7
438.3
96.4
431.1
205.7
225.4
38.4
187.0
2,687.1
513.6
1,400.7
303.9
1,096.8
693.6
403.2
380.9
100.0
3,668.5
1,003.3
569.2
36.7
532.5
438.1
94.4
434.1
203.6
230.5
37.9
192.6
2,665.2
511.0
1,399.0
303.5
1,095.5
692.8
402.8
379.7
95.3
59.9
20.9
16.6
9.6
82.7
15.7
17.0
9.1
89.4
15.7
16.8
9.1
79.5
15.0
17.0
9.1
78.6
15.7
17.6
9.2
82.2
16.2
18.2
9.4
77.2
16.7
18.5
9.6
80.6
17.4
18.7
9.6
78.1
17.9
18.4
9.6
82.8
17.4
18.7
9.6
82.2
17.8
18.9
9.6
78.7
16.6
18.8
9.7
27.4
125.5
95.3
220.3
20.6
127.5
92.7
164.4
26.2
129.4
92.6
145.7
21.2
125.7
92.8
135.3
24.7
128.9
92.6
150.0
28.3
132.6
92.5
154.9
31.8
134.3
91.8
150.7
19.2
142.0
91.9
158.9
16.4
138.8
91.5
161.1
14.3
144.0
91.8
151.4
22.8
148.6
91.9
168.1
22.4
137.2
92.2
155.4
123.5
96.8
144.6
447.1
98.9
65.5
152.9
447.1
80.1
65.6
158.2
452.4
67.3
68.1
150.3
446.1
83.8
66.2
144.1
453.5
88.9
66.1
146.7
455.7
86.2
64.5
141.2
466.7
94.7
64.2
137.3
468.0
95.6
65.4
131.3
465.7
87.6
63.8
132.5
467.0
102.0
66.1
148.8
474.2
93.2
62.2
136.1
465.8
4,165.4
4,300.2
4,310.7
4,306.5
4,354.2
4,386.9
4,397.7
4,400.8
4,377.0
4,388.8
4,449.7
4,392.3
2,443.4
322.6
2,120.8
306.7
1,814.1
736.7
195.8
540.9
184.5
321.5
2,505.2
316.3
2,188.9
350.6
1,838.3
742.7
152.3
590.3
244.4
323.8
2,518.8
327.7
2,191.1
352.8
1,838.2
752.9
150.2
602.7
221.4
320.8
2,527.9
304.0
2 223 9
361.2
1,862.7
742.4
133.7
608.7
240.8
317.3
2,536.2
316.6
2 219 7
358.2
1,861.5
767.9
134.7
633.1
250.9
314.4
2,543.3
311.1
2 232 3
372.4
1,859.9
772.9
139.4
633.4
245.4
320.7
2,545.8
298.4
2 247 4
374.7
1,872.7
776.6
135.6
641.1
262.9
312.3
2,571.1
308.2
2 262 9
380.1
1,882.7
111 .9
140.1
637.8
250.8
310.0
2,539.7
269.4
2 270 4
378.3
1,892.0
773.5
137.9
635.6
260.4
306.6
2,565.7
295.6
2 270 1
379.1
1,891.0
781.9
143.4
638.4
237.0
311.8
2,605.6
353.0
2 252 6
383.0
1,869.6
790.2
137.6
652.6
255.3
305.5
2,578.4
323.1
2 255 3
381.2
1,874.1
766.2
141.4
624.8
250.3
315.2
3,686.1
3,816.0
3,813.9
3,828.4
3,869.4
3,882.2
3,897.7
3,909.8
3,880.3
3,896.4
3,956.6
3,910.1
479.3
484.2
496.8
478.1
484.8
504.6
500.0
491.0
496.7
492.4
493.0
482.2
18
Federal Reserve Bulletin Statistical Supplement • December 2005
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
Nov.
2005
2005
2004
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 9
Nov. 16
Nov. 23
Nov. 30
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.
3,410.4
940.8
570.4
46.1
524.2
418.4
105.9
370.4
202.7
167.8
33.6
134.2
2,469.7
461.0
1,265.7
280.5
985.2
617.1
368.1
385.1
143.6
241.5
81.8
3,572.8
1,037.0
621.9
54.7
567.2
466.4
100.8
415.0
216.2
198.8
36.4
162.4
2,535.9
491.2
1,306.8
300.6
1,006.2
625.4
380.8
379.3
143.3
235.9
93.6
3,592.4
1,019.9
593.7
51.4
542.3
442.3
100.0
426.2
222.9
203.3
36.4
166.9
2,572.5
493.6
1,321.0
301.3
1,019.7
635.1
384.6
377.4
144.7
232.7
106.1
3,602.7
1,017.6
598.3
49.2
549.0
450.0
99.0
419.4
212.6
206.8
37.2
169.6
2,585.1
492.2
1,352.2
303.8
1,048.5
657.8
390.7
378.4
144.7
233.7
95.1
3,639.6
1,018.0
593.6
46.5
547.1
447.6
99.5
424.4
213.0
211.4
38.0
173.4
2,621.6
493.6
1,377.3
304.7
1,072.6
677.3
395.3
384.0
142.8
241.1
95.1
3,669.3
1,015.6
584.5
36.4
548.1
447.3
100.8
431.1
214.9
216.2
38.4
177.9
2,653.7
500.3
1,383.5
304.5
1,078.9
679.4
399.5
387.7
143.2
244.6
99.9
3,680.9
1,009.5
584.5
40.8
543.6
443.5
100.1
425.1
204.9
220.2
37.8
182.4
2,671.4
508.4
1,392.4
305.4
1,087.0
684.6
402.4
385.2
141.9
243.2
97.5
3,691.1
1,012.9
582.0
42.7
539.3
443.2
96.1
430.9
204.5
226.4
38.0
188.4
2,678.2
512.4
1,400.4
304.2
1,096.2
693.1
403.1
382.9
142.2
240.7
99.1
3,673.3
1,006.4
576.7
48.2
528.5
434.4
94.1
429.7
205.1
224.6
37.9
186.7
2,666.9
509.9
1,402.2
305.2
1,097.0
695.0
402.0
383.6
139.5
244.1
96.3
3,693.3
1,017.2
586.6
44.9
541.7
444.1
97.6
430.7
205.0
225.7
37.9
187.8
2,676.1
512.9
1,395.7
303.8
1,092.0
688.9
403.1
385.7
142.1
243.6
100.8
3,706.6
1,014.5
584.2
39.8
544.4
447.1
97.3
430.3
205.3
225.0
38.3
186.7
2,692.1
514.9
1,403.2
304.2
1,099.0
695.0
404.0
381.4
143.4
238.0
100.9
3,693.7
1,016.5
581.5
37.3
544.2
448.2
96.0
434.9
204.0
230.9
38.0
193.0
2,677.3
512.5
1,402.4
303.4
1,099.0
695.0
404.0
380.4
144.1
236.4
97.2
60.6
21.2
16.6
9.6
78.7
14.9
17.0
9.1
90.3
15.8
16.8
9.1
80.0
15.1
17.0
9.2
79.3
15.8
17.6
9.2
83.4
16.5
18.2
9.4
80.2
17.3
18.5
9.6
81.5
17.6
18.7
9.6
78.3
18.0
18.4
9.6
83.3
17.5
18.7
9.7
82.9
18.0
18.9
9.6
80.2
16.9
18.8
9.7
27.4
126.9
95.6
222.5
20.6
125.8
92.6
167.2
26.2
130.0
92.4
147.6
21.2
127.1
92.6
134.7
24.7
127.6
92.5
150.1
28.3
134.0
92.5
151.0
31.8
135.9
92.3
146.6
19.2
143.5
92.2
160.5
16.4
138.5
92.0
161.1
14.3
146.1
92.2
154.9
22.8
148.2
92.2
164.3
22.4
141.5
92.3
161.4
124.7
97.8
150.6
450.2
100.5
66.7
149.5
446.2
81.2
66.4
151.3
448.5
67.0
67.7
145.4
448.3
83.8
66.3
136.3
456.0
86.6
64.4
146.0
460.2
83.9
62.7
144.0
471.4
95.6
64.8
143.2
471.4
95.6
65.4
132.6
474.3
89.6
65.3
144.4
471.8
99.7
64.6
146.9
469.0
96.9
64.6
148.6
468.9
4,195.6
4,301.2
4,305.4
4,297.2
4,348.0
4,392.3
4,408.9
4,432.3
4,407.1
4,430.3
4,453.0
4,439.2
2 456 2
325.3
2,130.9
310.0
1,820.9
729.7
193.2
536.4
191.1
332.1
2 487 6
311.1
2,176.5
347.2
1,829.3
760.9
152.9
608.0
242.1
320.7
2,512.4
324.6
2,187.8
352.2
1,835.6
764.6
149.6
614.9
219.7
318.3
2,520.3
301.8
2,218.5
359.3
1,859.2
743.9
133.6
610.3
234.0
309.4
2,526.6
302.3
2,224.2
357.7
1,866.5
762.3
136.3
626.0
250.3
314.0
2,545.6
304.7
2,241.0
370.4
1,870.6
777.1
139.7
637.4
248.1
324.2
2,557.2
295.8
2,261.3
377.1
1,884.2
773.7
135.6
638.1
267.0
317.0
2,585.1
311.3
2,273.8
384.3
1,889.5
770.5
138.1
632.4
259.9
320.3
2,560.0
261.6
2,298.5
384.1
1,914.4
769.3
137.8
631.5
267.7
315.1
2,590.8
303.7
2,287.0
383.5
1,903.5
777.3
141.6
635.8
244.2
320.5
2,595.6
348.4
2,247.2
386.3
1,860.9
773.2
132.8
640.4
267.6
318.6
2,597.0
339.8
2,257.2
384.2
1,873.0
759.4
139.2
620.2
259.9
326.2
3,709.1
3,811.4
3,815.0
3,807.6
3,853.2
3,895.0
3,914.9
3,935.7
3,912.2
3,932.8
3,955.0
3,942.5
486.5
489.8
490.4
489.6
494.8
497.3
494.1
496.6
494.9
497.5
498.0
496.7
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
D. Small domestically chartered commercial banks
19
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Nov.
2005
2005
2004
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 9
Nov. 16
Nov. 23
Nov. 30
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
2,684.7
709.5
492.6
217.0
1,975.2
320.6
1,243.7
114.0
1,129.6
301.1
7.8
102.1
84.2
112.3
164.7
2,869.6
724.2
499.6
224.5
2,145.5
342.5
1,369.0
126.0
1,242.9
322.3
8.5
103.1
75.2
114.8
195.3
2,900.0
718.1
495.3
222.8
2,181.8
346.1
1,396.2
129.9
1,266.2
327.0
8.8
103.8
73.4
115.4
204.8
2,920.7
714.5
492.6
221.9
2,206.2
352.5
1,412.2
134.6
1,277.6
328.5
9.0
104.0
74.4
116.9
198.1
2,937.1
714.0
491.5
222.5
2,223.1
355.2
1,422.3
135.6
1,286.8
331.3
9.1
105.1
77.0'
118.6
198.3
2,942.3
708.8
487.6
221.2'
2,233.5
358.3
1,425.5
134.7
1,290.8
332.8
9.6
107.2
78.5
120.8
201.8
2,932.9
700.7
486.1'
214.7
2,232.2
358.2
1,433.0
131.3
1,301.7
323.6
9.8
107.5
83.1
119.1'
200.8
2,945.9
697.5
483.9
213.6
2,248.4
362.4
1,439.8
132.2
1,307.6
327.2
10.1
108.9
89.3
117.1
205.6
2,944.3
698.7
484.5
214.1
2,245.7
361.5
1,440.0
131.7
1,308.3
326.3
9.8
108.1
84.5
115.5
204.4
2,948.3
697.8
483.3
214.5
2,250.5
362.4
1,440.4
132.0
1,308.4
328.8
10.2
108.7
90.5
114.7
202.1
2,951.8
699.6
484.4
215.1
2,252.2
363.4
1,440.3
132.8
1,307.5
327.7
10.6
110.2
93.2
122.7
201.3
2,941.8
693.8
483.3
210.5
2,248.1
362.9
1,440.0
132.7
1,307.3
326.1
10.1
109.0
90.0
115.3
215.0
3,013.7
3,221.9
3,260.6
3,276.8
3,297.3
3,309.5'
3,302.3
3,323.9
3,314.9
3,321.5
3,334.9
3,328.2
2,300.2
335.9
1,964.3
353.1
1,611.2
488.2
181.7
306.5
7.5
72.5
2,424.5
348.4
2,076.1
394.9
1,681.2
516.1
171.3
344.8
10.8
71.1
2,440.8
355.3
2,085.5
399.2
1,686.3
513.3
168.2
345.1
10.0
73.5
2,473.3'
346.0
2,127.4
407.3'
1,720.1'
509.4
165.4
344.0
13.5
70.9
2,490.0
357.0
2,133.0'
412.6
1,720.4'
511.0
162.9
348.2
14.1
72.2
2,503.2'
348.6'
2,154.7
415.9
1,738.8'
517.1
165.1
352.0
13.3
72.5
2,505.9
343.9'
2,162.1
423.2
1,738.9
502.6
161.2
341.4
15.5
71.6
2,518.2
349.1
2,169.0
429.2
1,739.9
504.8
166.0
338.8
13.3
73.3
2,511.5
332.5
2,179.1
434.2
1,744.9
504.8
166.9
337.9
14.8
72.0
2,522.5
342.5
2,180.0
426.0
1,753.9
500.0
164.8
335.1
14.6
73.1
2,528.1
368.0
2,160.1
427.9
1,732.3
512.9
166.6
346.3
11.5
73.7
2,509.6
357.9
2,151.7
427.8
1,723.9
503.1
167.1
336.0
12.6
74.9
2,868.5
3,022.5
3,037.6
3,067.1
3,087.3'
3,106.2
3,095.6
3,109.7
3,103.1
3,110.2
3,126.2
3,100.2
145.2
199.4
223.0
209.7
210.0'
203.3'
206.7
214.3
211.8
211.4
208.7
228.0
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 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.
2,701.1
709.8
492.8
217.0
1,991.4
319.5
1,256.4
113.9
1,142.5
461.0'
681.5'
305.0
151.3
153.6
7.9
102.6
85.7
116.2
164.7
2,862.9
723.8
499.2
224.5
2,139.2
344.8
1,364.3
126.1
1,238.3
491.3'
746.9'
319.2
159.8
159.4
8.4
102.4
72.9
113.8
195.3
2,889.2
718.2
495.4
222.8
2,171.0
348.0
1,387.4
130.3
1,257.1
498.8'
758.3'
322.4
161.8
160.6
8.7
104.5
72.0
114.9
204.8
2,910.8'
712.5
490.6'
221.9
2,198.3
352.7
1,406.7
134.8
1,271.9
503.2
768.7
324.5
163.3
161.2
9.0
105.4
72.0
116.9
198.1
2,934.2
712.5'
490.0
222.5
2,221.8'
353.2
1,422.6
135.8
1,286.8
510.6
776.2
329.6
165.8
163.8
9.2
107.1
76.5
116.8
198.3
2,948.2
708.5
487.3
221.2'
2,239.8'
356.2
1,431.7
135.4
1,296.2
512.0
784.2
333.3'
168.1
165.2
9.5
109.1
77.1
122.1
201.8
2,942.5
699.4
484.7
214.7
2,243.1'
357.4
1,441.4
132.0
1,309.4
516.0
793.4
325.8
160.7
165.1
9.8
108.7
84.0
120.6
200.8
2,964.1
697.8
484.2
213.6
2,266.4
361.2
1,454.2
132.1
1,322.1
519.8
802.3
331.3
166.7
164.5
10.3
109.5
90.8
121.0
205.6
2,962.9
698.5
484.4
214.1
2,264.4
360.6
1,455.7
132.0
1,323.6
523.8
799.8
329.1
164.4
164.7
10.1
109.0
89.6
116.2
204.4
2,966.8
697.4
482.9
214.5
2,269.4
361.0
1,455.9
132.0
1,323.9
521.5
802.4
332.6
168.2
164.4
10.4
109.5
93.1
121.7
202.1
2,970.1
699.9
484.8
215.1
2,270.1
361.8
1,454.8
132.4
1,322.4
518.5
803.9
332.8
168.3
164.5
10.5
110.2
91.0
123.0
201.3
2,960.1
695.1
484.6
210.5
2,265.0
361.9
1,452.5
132.0
1,320.5
516.3
804.2
331.0
166.6
164.4
10.2
109.3
89.6
123.2
215.0
3,035.4
3,212.0
3,247.9
3,264.4
3,292.1
3,315.3
3,314.4'
3,347.5
3,339.3
3,349.6
3,351.3
3,354.1
2,311.6
339.2
1,972.4
353.1
1,619.3
488.2
181.7
306.5
7.5
72.5
2,419.9
344.1
2,075.8
394.9
1,680.9
516.1
171.3
344.8
10.8
71.1
2,439.8
351.0
2,088.8
399.2
1,689.6
513.3
168.2
345.1
10.0
73.5
2,466.4
345.7
2,120.7
407.3'
1,713.4'
509.4
165.4
344.0
13.5
70.9
2,486.0'
352.7
2,133.3
412.6
1,720.7'
511.0
162.9
348.2
14.1
72.2
2,502.1
346.8
2,155.3
415.9
1,739.4'
517.1
165.1
352.0
13.3
72.5
2,508.1
345.2'
2,163.0
423.2
1,739.8
502.6
161.2
341.4
15.5
71.6
2,530.3
352.5
2,177.8
429.2
1,748.6
504.8
166.0
338.8
13.3
73.3
2,529.5
332.8
2,196.6
434.2
1,762.5
504.8
166.9
337.9
14.8
72.0
2,539.1
346.8
2,192.3
426.0
1,766.3
500.0
164.8
335.1
14.6
73.1
2,529.1
367.3
2,161.8
427.9
1,733.9
512.9
166.6
346.3
11.5
73.7
2,523.2
367.0
2,156.2
427.8
1,728.4
503.1
167.1
336.0
12.6
74.9
2,879.8
3,017.9
3,036.6
3,060.1
3,083.4
3,105.0
3,097.8
3,121.8
3,121.1
3,126.8
3,127.2
3,113.8
155.6
194.1
211.3
204.3
208.8'
210.3'
216.5
225.7
218.2
222.8
224.1
240.2
20
Federal Reserve Bulletin Statistical Supplement • December 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES
E. Foreign-related institutions
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ly figures
Monthly averages
Account
Nov.
2005
2005
2004
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 9
Nov. 16
Nov. 23
Nov. 30
Seasonall) 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
681.6
283.0
89.9
193.0
398.7
135.8
18.2
148.2
96.5
50.3
61.8
36.4
724.7
314.2
87.0
227.2
410.5
154.8
18.3
130.5
106.8
48.2
61.6
35.1
733.2
318.7
86.9
231.8
414.5
153.9
18.4
134.8
107.4
49.6
60.1
37.0
745.4r
326.1'
85.9
240.2'
419.3
160.7'
16.8
129.1
112.7
51.1
60.6'
36.4
771.0'
334.5'
85.1
249.4'
436.4
164.5
16.7
141.7
113.5
48.9
61.4'
36.7
787.2'
351.8'
85.6
266.2'
435.4
163.9
16.8
138.3
116.4
50.2
59.9'
40.2
800.8
361.0
82.6
278.4
439.8
164.0
21.6
137.5
116.7
48.0
56.4
39.2
812.7
364.8
81.6
283.2
448.0
164.4
22.4
137.8
123.3
46.4
54.6
40.8
807.5
368.4
82.8
285.5
439.1
162.1
22.3
133.9
120.8
44.4
54.2
46.3
809.0
363.7
80.9
282.8
445.3
163.3
22.6
136.9
122.5
45.6
54.9
41.3
821.5
363.5
81.6
281.9
458.0
166.2
22.6
142.6
126.7
46.4
56.0
37.4
816.7
363.8
81.2
282.6
452.9
166.6
22.4
139.4
124.5
48.9
53.0
38.9
829.6
869.1
879.5
893.1
917.6
937.1
943.9
954.1
952.0
950.3
960.9
957.1
548.1
11.5
536.6
365.4
52.6
312.8
-176.3
99.4
587.4
12.9
574.5
369.6
46.2
323.4
-196.6
93.4
602.1
11.9
590.2
361.9
50.9
311.0
-190.3
98.7
582.2
11.7
570.6
368.4
48.2
320.2
-155.4
95.0
628.9
12.4
616.5
388.8
52.7
336.1
-200.4'
96.2
636.9
12.1
624.9
384.5
50.1
334.4
-192.3
106.1
643.7
11.8
631.9
386.5
49.5
337.0
-190.0
113.3
627.3
12.0
615.3
413.0
57.7
355.3
-194.0
115.0
634.6
11.8
622.8
407.3
51.2
356.1
-199.4
122.6
626.6
12.4
614.3
402.2
54.7
347.6
-188.8
116.2
622.5
12.2
610.3
419.0
61.0
358.0
-192.5
110.3
624.5
11.7
612.9
425.5
63.9
361.5
-194.7
109.8
836.7
853.8
872.3
890.2
913.6
935.3
953.4
961.2
965.2
956.3
959.3
965.1
-7.1
15.3
7.1
2.9
4.0
1.7
-9.5
-7.1
-13.2
-6.0
1.6
-8.0
Not seasonally 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 assetss
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.
683.2
283.0
89.9
32.4
57.5
193.0
118.7
74.3
400.2
135.2
18.2
152.3
94.5
50.3
61.8
35.7
722.1
314.2
87.0
30.9
56.1
227.2
130.1
97.1
407.9
154.8
18.3
127.4
107.4
48.2
61.0
35.7
733.4
318.7
86.9
29.4
57.6
231.8
132.7
99.0
414.7
153.3
18.4
133.8
109.0
49.6
59.6
37.0
742.3'
326.1'
85.9
27.0
58.9
240.2'
132.8
107.4'
416.2
159.8
16.8
125.6
114.0
51.1
60.0'
35.4
762.0'
334.5'
85.1
26.6
58.5
249.4'
140.1
109.3'
427.5
162.8
16.7
133.3
114.8
48.9
61.5'
36.3
780.4'
351.8'
85.6
26.9
58.7
266.2'
156.2
110.0'
428.5
162.3
16.8
132.2
117.3
50.2
61.1'
38.6
796.9
361.0
82.6
24.5
58.1
278.4
167.7
110.7
436.0
162.0
21.6
136.2
116.2
48.0
57.4
38.0
813.3
364.8
81.6
24.6
57.0
283.2
169.5
113.7
448.5
163.6
22.4
141.7
120.8
46.4
54.6
40.0
811.2
368.4
82.8
26.0
56.8
285.5
172.2
113.3
442.8
160.7
22.3
140.8
119.0
44.4
53.8
46.0
807.1
363.7
80.9
24.1
56.9
282.8
168.5
114.3
443.4
162.4
22.6
138.1
120.2
45.6
55.2
40.1
818.0
363.5
81.6
25.0
56.6
281.9
168.1
113.8
454.5
165.6
22.6
143.3
123.1
46.4
55.1
36.5
819.8
363.8
81.2
23.9
57.3
282.6
169.0
113.7
455.9
166.4
22.4
145.7
121.5
48.9
53.9
38.3
830.5
866.5
879.2
888.3
908.3
929.8
940.0
953.9
955.0
947.5
955.6
960.4
534.8
11.4
523.4
365.4
52.6
312.8
-173.7
101.4
600.8
12.7
588.1
369.6
46.2
323.4
-198.7
91.9
610.7
11.8
598.9
361.9
50.9
311.0
-193.0
96.7
580.7
11.7
569.0
368.4
48.2
320.2
-157.3
93.7
620.1
12.2
607.8
388.8
52.7
336.1
-199.9
96.5
625.4
12.2
613.1
384.5
50.1
334.4
-190.5
107.5
622.4
11.9
610.5
386.5
49.5
337.0
-187.2
115.6
612.0
11.9
600.1
413.0
57.7
355.3
-191.2
117.3
617.6
11.6
606.0
407.3
51.2
356.1
-197.2
124.5
610.0
12.4
597.6
402.2
54.7
347.6
-186.1
118.5
609.4
11.9
597.5
419.0
61.0
358.0
-188.8
113.2
611.8
11.7
600.1
425.5
63.9
361.5
-191.8
112.1
828.0
863.7
876.3
885.5
905.5
927.0
937.2
951.1
952.2
944.7
952.8
957.6
2.6
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
2.8
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
2004
Nov.
2005
2005
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 9
Nov. 16
Nov. 23
Nov. 30
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
95.7
90.8
93.2
86.8
89.6
92.5
90.0
91.7
93.0
91.6
89.3
93.2
90.5
487.8
370.2
117.5
82.7
557.0
433.8
123.2
85.3
535.9
411.3
124.6
77.2
544.3
418.8
125.5
79.7
543.3
416.3
127.0
83.2
545.4
416.5
128.9
82.1
545.1
414.5
130.6
81.6
548.5
414.6
133.9
82.6
539.3
405.6
133.7
82.0
549.4
416.1
133.3
79.3
551.4
418.6
132.8
82.4
555.0
418.9
136.0
4.3
151.9
130.3
21.6
6.5
.5
148.9
129.5
19.4
5.6
3.6
151.1
129.2
21.9
5.5
1.6P
152.5
129.5
22.9
4.9
-1.6 P
153.1
130.7
22.4
4.0
-2.4 P
153.1
130.8
22.2
3.3
-7.9 P
154.2
131.8
22.4
3.2
-10.3
157.0
133.3
23.7
3.1
-12.1
156.2
134.3
21.9
3.1
-10.4
154.1
132.4
21.7
3.1
-9.4
159.2
133.1
26.0
3.0
-8.9
159.0
133.5
25.5
3.0
327.0
221.2
213.9
7.3
342.9
209.6
202.5
7.1
339.7
210.5
203.2
7.2
336.9
212.4
202.5
9.9
336.0
211.7
201.8
9.9
331.2
210.6
200.7
9.9
327.1
199.7
189.9
9.8
325.3
195.8
186.0
9.8
326.6
195.4
185.6
9.8
325.1
193.8
183.9
9.8
326.1
195.4
185.6
9.8
323.2
198.9
189.1
9.8
64.6
53.3
54.6
54.9
56.8
65.9
70.6
71.4
75.3
71.3
69.0
69.8
71.4
.2
62.0
63.6
.2
62.6
.2
62.4
71.2
.2
76.1
78.0
.2
81.7
78.4
75.4
76.4
.2
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11
Mortgage-backed
securities
12 Securitized
consumer
loans 12
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
17 Securitized business loans 12
2
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
2
2
2
2
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 • December 2005
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2005
Item
2000
2001
2002
2003
2004
Mar.
Apr.
May
June
July
Aug.
1 All issuers
1,619,274
1,458,870
1,347,997
1,265,351
1,387,807
1,435,879
1,490,359
1,503,470
1,537,820
1,543,702
1,580,335
2 Financial companies'
3 Nonfinancial companies2
1,275,841
343,433
1,234,023
224,847
1,193,950
154,047
1,160,317
105,034
1,268,158
119,649
1,302,219
133,660
1,344,817
145,543
1,353,098
150,373
1,405,057
132,763
1,405,916
137,786
1,441,129
139,206
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.
2
22
3
30
9
20
5.50
5.75
6.00
6.25
6.50
6.75
Period
2001
2002
2003
2004
2002
Average
rate
6.91
4.67
4.12
4.34
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.35
4.25
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
2003—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
4.25
4.25
4.25
4.25
4.25
4.22
4.00
4.00
4.00
4.00
4.00
4.00
Period
Average
rate
2004—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
2005—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
5.25
5.49
5.58
5.75
5.98
6.01
6.25
6.44
6.59
6.75
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
2005
Item
2002
2003
2005, week ending
2004
June
July
Aug.
Sept.
Sept. 2
Sept. 9
Sept. 16
Sept. 23
Sept. 30
MONEY MARKET INSTRUMENTS
1 Federal funds1-13
2 Discount window primary credit2-4
Nonfinancial
1-month
5
3-month
1.13
n.a.
1.35
2.34
3.04
4.01
3.26
4.25
3.50
4.44
3.62
4.59
3.55
4.50
3.51
4.50
3.49
4.50
3.65
4.57
3.77
4.75
1.67
1.67
1.69
1.11
1.11
1.11
1.38
1.40
1.41
3.11
3.18
3.27
3.27
3.36
3.47
3.47
3.53
3.64
3.64
3.67
3.72
3.54
3.58
3.68
3.55
3.60
3.64
3.61
3.64
3.71
3.70
3.72
3.78
3.72
3.78
3.85
1.68
1.69
1 70
1.12
1.13
1 13
1.41
1.46
1 52
3.15
3.22
3 30
3.31
3.41
3 49
3.50
3.60
3 69
3.69
3.74
3 79
3.57
3.66
3 74
3.61
3.66
3 71
3.67
3.71
3 77
3.74
3.78
3 83
3.76
3.84
3 89
1.72
1.73
1.81
1.15
1.15
1.17
1.45
1.57
1.74
3.20
3.38
3.56
3.38
3.57
3.80
3.56
3.77
3.99
3.74
3.87
4.01
3.65
3.81
3.96
3.67
3.77
3.89
3.74
3.84
3.97
3.78
3.91
4.04
3.81
3.99
4.17
1.73
1.14
1.55
3.36
3.55
3.74
3.85
3.78
3.75
3.82
3.88
3.97
1.60
1.61
1 68
1.00
1.01
1 05
1.24
1.37
1 58
2.78
2.97
3 13
3.04
3.22
3 42
3.28
3.44
3 66
3.16
3.42
3 67
3.33
3.43
3 61
3.28
3.42
3 60
3.21
3.40
3 66
3.05
3.44
3 72
3.07
3.44
3 76
2.00
2.64
3.10
3.82
4.30
4.61
5.43
1.24
1.65
2.10
2.97
3.52
4.01
4.96
1.89
2.38
2.78
3.43
3.87
4.27
3.36
3.64
3.69
3.77
3.86
4.00
3.64
3.87
3.91
3.98
4.06
4.18
3.87
4.04
4.08
4.12
4.18
4.26
3.85
3.95
3.96
4.01
4.08
4.20
3.77
3.87
3.90
3.94
3.99
4.09
4.36
3.76
3.86
3.88
3.93
4.01
4.13
4.44
3.82
3.91
3.93
3.98
4.06
4.19
4.53
3.88
3.97
3.98
4.03
4.11
4.23
4.56
3.97
4.11
4.11
4.13
4.20
4.30
4.59
4.87
5.64
5.04
4.52
5.20
4.75
4.50
5.09
4.68
4.08
4.76
4.23
4.18
4.86
4.31
4.33
4.94
4.32
4.34
4.87
4.29
4.32
4.90
4.18
4.18
4.70
4.26
4.28
4.80
4.30
4.44
4.96
4.30
4.49
5.01
4.39
7.10
6.24
6.00
5.30
5.40
5.43
5.47
5.30
5.40
5.48
5.51
5.57
6.49
6.93
7.18
7.80
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
4.96
5.03
5.33
5.86
5.06
5.14
5.44
5.95
5.09
5.20
5.48
5.96
5.13
5.24
5.50
6.03
4.95
5.06
5.32
5.84
5.05
5.16
5.43
5.96
5.13
5.24
5.51
6.03
5.17
5.28
5.52
6.06
5.21
5.33
5.59
6.12
1.61
1.72
1.66
1.98
1.99
2.00
2.00
1.76
1.73
1.73
1.77
1.75
paper3'5'6
Commercial
3
1.67
n.a.
Financial
7
9
10
11
2-month
Certificates of deposit, secondary market3-1
1-month
3-month
6-month
12 Eurodollar deposits, 3-month3>s
US Treasury bills
Secondary market3-5
14
15
3-month
6-month
U.S. TREASURY NOTES AND BONDS
Constant maturities''
16
1 -year
18
3-year
20
21
22
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 • December 2005
1.36
STOCK MARKET
Selected Statistics
2005
Indicator
2002
2003
2004
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Pr ces and trac ng volume (averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31,1965 = 50)
5,571.46
656.44
430.63
260.50
554.88
5,456.48
634.11
437.37
238.05
566.74
6,614.10
741.19
521.11
271.45
657.07
7,241.89
n.a.
n.a.
n.a.
n.a.
7,275.51
n.a.
n.a.
n.a.
n.a.
7,077.97
n.a.
n.a.
n.a.
n.a.
7,094.02
n.a.
n.a.
n.a.
n.a.
7,238.96
n.a.
n.a.
n.a.
n.a.
7,389.23
n.a.
n.a.
n.a.
n.a.
7,482.93
n.a.
n.a.
n.a.
n.a.
7,584.49
n.a.
n.a.
n.a.
n.a.
7,373.23
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
993.94
965.23
1,130.65
1,199.63
1,194.90
1,164.42
1,178.28
1,202.25
1,222.24
1,224.27
1,225.91
1,191.96
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
860.11
943.44
1,260.02
1,483.76
1,483.97
1,453.79
1,455.72
1,519.42
1,556.30
1,625.17
1,711.66
1,640.08
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1,411,689 1,361,043 1,403,376 1,549,991 1,600,618 1,643,376 1,452,615 1,405,330 1,430,294 1,387,088 1,626,430 1,779,200
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
134,380
173,220
203,790
199,480
201,690
194,160
196,270
200,500
210,940
208,660
217,760
212,540
95,690
73,340
92,560
84,920
117,850
93,580
94,330
77,960
100,200
80,200
97,450
74,720
99,480
72,690
105,550
76,380
99,000
74,130
99,050
75,910
106,730
79,310
113,110
77,550
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
2003
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
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
6,810.3
7,023.4
7,156.2
7,298.6
7,403.2
7,620.4
7,801.0
7,860.2
7,956.3'
6,783.2
3,923.9
2,859.3
6,998.0
4,044.1
2,954.5
7,131.1
4,176.7
2,954.4
7,274.3
4,218.7
3,055.6
7,379.0
4,303.4
3,075.7
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'
27.0
27.0
.0
25.4
24.9
.5
25.1
25.1
.0
24.2
24.2
.0
24.2
23.7
.4
24.3
23.9
.4
24.1
24.1
23.7
23.7
7,535.6
7,715.5
7,778.1
7,871.0'
6,737.3
.3
6,952.6
.3
7,088.5
.1
7,229.2
.1
7,333.2
.2
7,535.5
.2
7,715.4
7,778.0
7,870.9'
7,384.0
7,384.0
7,384.0
7,384.0
7,384.0
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
23.6'
23.6'
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
By type
Interest-bearing
Marketable
Bills
Notes
Bonds
Inflation-indexed notes and bonds'
Nonmarketable2
State and local government series .
Foreign issues3
Government
Public
Savings bonds and notes
Government account series4
Non-interest-bearing
By holder^
16 U.S. Treasury and other federal agencies and trust funds
17 Federal Reserve Banks8
18 Private investors
19
Depository institutions
20
Mutual funds
21
Insurance companies
22
State and local treasuries7
Individuals
23
Savings bonds
24 Pension funds
25
Private
26
State and Local
27
Foreign and international5
28
Other miscellaneous investors7'9
Q4
Ql
Q2
Q3
7,759.9
7,818.0
4,103.7
1,059.1
4,031.0
7,913.7
4,084.8
914.3
2,328.7
520.6
5,943.4
6,405.7
6,998.0
7,596.1
5,930.8
2,982.9
6,391.4
6,982.0
3,205.1
3,575.1
7,578.5
3,959.7
7,578.5
3,959.7
811.3
1,413.9
888.8
1,580.8
588.7
146.9
3,186.3
928.8
1,905.7
564.3
1,003.2
2,157.1
1,003.2
2,157.1
539.5
245.9
3,618.8
539.5
245.9
3,618.8
160.7
160.7
2,226.6
537.2
266.8
3,656.2
179.0
5.9
5.9
.0
5.9
5.9
.0
6.1
6.1
.0
602.7
140.1
2,947.9
176.2
923.4
2,273.0
529.9
290.6
3,787.0
206.7
3.0
3.0
.0
190.9
3,356.3
18.5
307.1
3,828.9
225.3
191.7
191.7
2,574.8
11.2
11.2
.0
184.8
2,806.9
3,406.9
149.2
9.7
9.7
.0
192.2
3,007.0
3,230.6
3,230.6
192.2
3,248.9
12.7
14.3
16.0
17.6
17.6
17.0
2,564.3
551.7
2,819.5
181.5
257.5
105.7
339.4
2 757.8
629.4
3,018.5
222.8
278.8
139.7
351.5
2,955.1
666.7
3,377.9
154.0
279.6
136.5
358.8
3,189.1
717.8
3,667.1
128.1
253.1
149.2
385.8
3,189.1
717.8
3,667.1
128.1
253.1
149.2
385.8
3,206.6
717.3
3,855.4
142.1'
262.3
153.3'
407.5'
3,311.6
724.7
3,334.1
736.4
3,803.0
127.2'
249.5'
154.6
434.3'
3,864.9
125.7
248.0
157.7
456.4
190.3
273.1
120.6
152.4
1,051.2
420.9
194.9
278.8
134.7
144.1
1,246.8
323.4
203.8
288.2
140.8
147.4
1,538.1
452.6
204.4
295.7
151.0
144.7
1,942.0
307.8
204.4
295.7
151.0
144.7
1,942.0
307.8
204.2
284.0'
153.8
130.2'
1,982.2
407.4
204.2
287.9'
157.6
130.3'
2,030.0
303.5
203.6
292.0
161.0
131.0
2,069.0
n.a.
146.3
15.4
15.4
181.5
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.
153.4
3.1
3.1
.0
190.0
3,380.6
19.0
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 • December 2005
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2005
Item
By type of security
1 U.S. Treasury bills
Treasury coupon securities by maturity
2 Three years or less
3
More than three but less than or
equal to six years
4
More than six but less than or equal
to eleven years
5
More than eleven
6
Inflation-protected2
7
8
9
10
11
12
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
More than six years but less than
or equal to eleven years . . . .
More than eleven years
Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
15
16
17
18
19
20
21
22
By type of counterparty
With interdealer broker
U.S. Treasury
Federal agency and governmentsponsored enterprises
Mortgage-backed
Corporate
With other
U.S. Treasury
Federal agency and governmentsponsored enterprises
Mortgage-backed
Corporate
June
July
2005, week end
Aug.
Aug. 3
Aug. 10
Aug. 17
Aug. 24
Aug. 31
Sept. 7
Sept. 14
Sept. 21
Sept. 28
48,712
44,369
46,692
38,576
46,069
44,000
50,785
50,782
53,459
51,247
46,025
44,683
187,712
167,459
175,112
182,589
188,465
147,619
154,118
205,762
318,401
173,485
196,120
214,233
145,337
135,097
140,448
146,304
148,402
164,510
108,639
136,728
192,506
147,769
152,955
135,902
131,238
31,508
8,247
120,093
24,378
9,086
120,808
27,748
7,250
121,517
28,305
10,970
118,030
27,266
6,909
151,979
29,450
6,058
96,847
21,262
5,257
115,949
32,680
8,543
150,542
38,830
11,390
125,978
40,356
12,058
147,056
38,798
10,046
117,503
31,208
7,609
58,061
60,599
61,082
57,085
65,417
64,079
58,427
58,803
56,703
56,403
69,294
68,466
8,294
7,410
6,867
7,478
7,772
7,875
6,424
5,032
6,131
6,672
7,811
13,194
6,330
5,412
4,232
6,533
6,230
4,408
2,073
2,837
4,120
6,810
3,481
3,969
3,093
697
3,386
408
1,904
472
3,530
387
1,993
285
1,594
906
1,229
390
1,823
356
3,129
503
5,453
721
2,872
426
3,630
372
269,242
242,122
242,035
242,065
383,987
225,573
171,486
187,078
263,059
355,269
182,482
191,496
158,670
21,548
162,124
20,917
169,031
20,143
155,123
20,338
184,931
21,691
181,981
20,740
167,206
18,451
150,352
19,575
161,391
12,518
163,826
19,776
206,165
19,508
192,022
27,357
228,874
203,082
214,364
222,590
221,017
215,791
184,554
231,160
319,578
226,619
254,398
230,078
6,109
67,102
581
5,595
63,481
519
4,679
58,914
399
5,922
54,269
488
5,594
81,992
431
4,853
64,474
413
3,354
46,870
347
4,171
45,108
352
6,532
49,004
351
6,787
80,239
616
5,629
46,495
470
6,354
51,172
477
323,880
297,400
303,694
305,671
314,125
327,826
252,354
319,285
445,550
324,274
336,602
321,059
70,366
202,141
179,637
71,621
178,642
182,522
69,877
183,121
188,776
69,090
187,796
174,973
76,103
301,995
206,191
74,010
161,099
202,308
65,189
124,617
185,310
64,680
141,970
169,575
64,054
214,055
173,558
69,272
275,030
182,986
78,254
135,987
225,202
83,277
140,324
218,902
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
2005, week ending
2005
Item, by type of security
June
July
Aug.
Aug. 3
Aug. 10
Aug. 17
Aug. 24
Aug. 31
Sept. 7
Sept. 14
Sept. 21
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
4,968
-1,304
-2,079
-72
208
-4,479
-4,410
-497
7,333
-7,303
-14,972
-53,308
-50,908
-41,787
-47,476
-44,116
-43,717
-36,684
-40,192
-26,488
-40,610
-45,740
-35,096
-44,176
-49,062
-48,914
-46,197
-47,177
-51,027
-51,911
-45,579
-43,307
-41,841
-27,731
-4,487
-480
-38,222
-5,395
-328
-32,058
-7,745
-479
-43,307
-6,153
-679
-42,631
-7,500
-592
-25,617
-6,618
-519
-26,504
-8,499
-830
-28,661
-9,047
109
-32,330
-10,726
307
-17,701
-11,459
-820
-14,919
-8,596
-367
54,844
47,540
48,076
45,877
46,749
51,323
50,756
44,417
48,158
45,453
39,128
30,393
30,547
28,904
29,166
29,896
27,790
29,344
28,474
29,549
30,666
29,450
9,618
9,375
10,502
9,100
9,941
10,791
11,133
10,743
9,822
12,871
14,108
2,955
4,748
1,930
3,907
841
3,802
739
3,590
-161
3,472
401
4,020
1,888
3,724
1,280
4,082
1,855
4,385
3,596
4,540
3,326
4,377
38,385
27,977
30,844
30,439
33,462
30,429
32,020
27,637
27,009
28,728
30,506
37,037
133,983
33,175
124,537
33,591
124,182
34,303
122,490
36,175
119,717
34 445
123,915
31 864
118,348
31,575
135,473
31,440
132,329
35,125
129,394
38,807
128,627
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
1,094,028
1,376,656
1,107,551
1,147,434
1,097,150
1,259,667
1,134,542
1,196,372
1,104,494
1,287,211
1,104,333
1,228,024
1,068,559
1,258,810
1,095,188
1,291,749
1,166,040
1,309,073
1,138,703
1,404,898
1,186,281
1,389,576
163,283
207,880
168,581
205,433
156,993
210,391
164,977
195,267
163,433
205,203
155,790
209,632
154,544
210,048
150,783
223,163
157,822
207,446
162,538
200,745
156,046
187,559
72,729
414,637
70,282
405,031
80,566
407,289
84,653
388,476
85,672
404,763
86,292
405,336
80,407
413,970
68,142
413,149
81,147
412,723
85,668
411,089
91,512
413,826
108,228
71,655
108,236
75,899
107,104
81,086
107,468
78,854
107,730
78,576
107,891
77,872
108,545
79,860
104,092
88,993
108,114
85,876
110,147
86,608
108,395
92,226
736,728
1,750,953
725,844
1,507,834
730,309
1,621,632
749,883
1,529,791
725,414
1,655,653
729,253
1,599,131
695,774
1,635,497
762,408
1,635,607
799,556
1,681,696
735,478
1,765,416
748,089
1,777,947
1 072 376
1,200,438
1 053 779
980,179
1 065 384
1,059,290
1 093 744
1,012,021
1 071 365
1,081,696
1 075 262
1,017,051
1 027 799
1,079,591
1 074 957
1,079,080
1 132 818
1,139,324
1 089 412
1,244,767
1 096 465
1,252,160
300,917
156,523
305,954
145,230
298,300
142,249
298,684
138,484
299,206
142,621
295,028
146,742
298,415
142,799
300,387
138,449
303,514
145,542
317,870
142,097
291,716
133,080
519,186
251,754
488,457
260,845
493,961
244,753
480,224
254,885
500,646
232,843
489,337
251,261
504,917
253,832
486,833
236,734
497,764
246,442
528,127
251,372
549,199
239,473
218,467
48,611
217,694
44,892
221,604
46,793
222,130
44,049
217,627
45,156
218,945
46,310
216,031
45,764
233,588
51,118
229,890
50,532
232,448
50,561
236,994
56,292
1,875,373
1,581,672
1,836,827
1,352,550
1,847,325
1,413,373
1,858,231
1,374,362
1,857,455
1,424,473
1,849,072
1,382,200
1,818,984
1,441,608
1,859,114
1,421,928
1,932,490
1,497,340
1,907,272
1,607,591
1,924,635
1,593,173
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
Federal Reserve Bulletin Statistical Supplement • December 2005
1.44
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Agency
Apr.
1 Federal and federally sponsored agencies
2 Federal agencies
3
Defense Department1
4
Export-Import Bank^3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service6
8
Tennessee Valley Authority
9
United States Railway Association6
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
2,121,057
276
6
2^51,039
6
n.a.
26,828
n.a.
25,412
6
n.a.
n.a.
n.a.
2,120,781
623,740
565,071
763,500
76,673
48,350
8,170
1,261
29,996
2,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
24,267
6
n.a.
207
n.a.
24,083
6
23,894
6
n.a.
140
n.a.
23,978
6
23,744
6
n.a.
143
n.a.
n.a.
n.a.
24,261
n.a.
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
n.a.
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
30,811
27,948
27,471
27,485
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
16,961
n.a.
10,987
16,961
n.a.
10,510
17,926
n.a.
9,559
24,077
856,756
727,000
898,910
100,893
77,757
n.a.
n.a.
23,888
n.a.
July
M ay
n.a.
881,584
726,700
884,540
101,645
77,333
n.a.
n.a.
n.a.
23,972
879,010
735,200
857,754
102,655
77,074
n.a.
n.a.
23,738
n.a.
n.a.
896,220
739,600
836,975
104,218
79,697
n.a.
n.a.
n.a.
23,678
6
23,672
895,404
732,400
814,760
106,024
MEMO
19 Federal Financing Bank debt13
20
21
22
23
24
39,096
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service6
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association6
Other lending^
25 Farmers Home Administration
26 Rural Electrification Administration
27 Other
n.a.
n.a.
n.a.
n.a.
n.a.
13,876
25,220
n.a.
14,489
22,528
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.
16,127
14,684
10. The Financing Corporation, established in August 1987 to recapitalize the Federal
Savings and Loan Insurance Corporation, undertook its first borrowing in October 1987.
11. The Farm Credit Financial Assistance Corporation, established in January 1988 to
provide assistance to the Farm Credit System, undertook its first borrowing in July 1988.
12. The Resolution Funding Corporation, established by the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989, undertook its first borrowing in October
1989.
13. The FFB, which began operations in 1974, is authorized to purchase or sell obligations
issued, sold, or guaranteed by other federal agencies. Because FFB incurs debt solely for the
purpose of lending to other agencies, its debt is not included in the main portion of the table to
avoid double counting.
14. Includes FFB purchases of agency assets and guaranteed loans; the latter are loans
guaranteed by numerous agencies, with the amounts guaranteed by any one agency generally
being small. The Farmers Home Administration entry consists exclusively of agency assets,
whereas the Rural Electrification Administration entry consists of both agency assets and
guaranteed loans.
Securities Markets and Corporate Finance
1.45
NEW SECURITY ISSUES
29
State and Local Governments
Millions of dollars
Type of issue or issuer,
or use
Apr.'
May
July'
Aug.'
Sept.
1 All issues, new and refunding1
363,888
384,311
357,499'
30,937'
44,752
31,320
35,935'
44,185
34,304
34,274
31,163
By type of issue
2 General obligation
3 Revenue
145,323
214,788
144,056
238,204
130,330'
227,169
14,012
16,926'
19,718
25,034
13,073
18,247
13,676'
22,259
16,777
27,407
10,576
23,728
11,089
23,186
11,784
19,379
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township . . .
33,931
259,070
67,121
49,795
253,536
78,962
47,365'
233,886'
76,248
1,786
22,505'
6,647
5,464
31,830
7,458
2,664
20,618
8,038
1,942
25,159'
8,834
3,275
32,788
8,122
1,735
26,519
6,050
1,853
24,413
8,009
4,017
20,646
6,500
7 Issues for new capital
242,882
264,697
228,099'
15,763'
20,303
16,030
17,919'
25,370
16,966
20,479
15,718
57,894
22,093
33,404
n.a.
7,227
73,033
70,394
23,809
10,251
n.a.
22,339
97,736
65,432
20,546
9,377
n.a.
18,998
80,477'
4,948
1,981
438
n.a.
618
4,272
6,775
2,606
1,248
n.a.
2,404
4,743
5,257
1,266
583
n.a.
2,212
3,849
4,565
1,177'
805
n.a.
1,719
5,964'
8,568
3,942
728
n.a.
1,518
6,348
8,633
985
456
n.a.
1,307
3,541
5,914
4,359
1,503
n.a.
901
5,397
3,762
1,868
1,493
n.a.
1,379
4,813
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
2005
Type of issue, offering,
or issuer
1
1 All issues
By type of offering
3 Sold in the United States
2002
2003
2004
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
1,432,548
1,815,569' 2,070,680
183,454'
158,779
223,777
144,986'
182,463'
264,143'
172,969
227,934
1,322,113
1,692,260
1,923,094
177,157
146,154
213,440
139,849
176,510
250,164
168,045
215,978
1,235,868
86 246
1,579,311
112 949
1,737,342
185 752
159,207
17 950
125,762
20 392
204,222
9 218
130,985
8 864
169,998
6 512
230,843
19 321
152,735
15 310
204,581
11 397
18,870
20,701
21,942
830
914
1,673
987
2,209
2,016
n.a.
n.a.
282,484
1,039,629
362,340
1,329,920
259,968
1,663,127
15,981
161,176
16,837
129,317
17,775
195,665
11,711
128,138
9,496
167,014
31,342
218,822
17,969
150,076
17,876
198,102
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
170,903'
182,132'
147,585
6,298
12,625
10,337
5,137'
5,953'
13,979'
4,924
11,956
110,434'
60,469
123,309'
58,823
147,585
n.a.
6,298
n.a.
12,625
n.a.
10,337
n.a.
5,137'
n.a.
5,953'
n.a.
13,979'
n.a.
4,924
n.a.
11,956
n.a.
62,114'
48,320
44,416'
78,893'
64,345'
83,240
2,071
4,227
7,964
4,661
3,129
7,208
2,595
2,543
2,427
3,527
4,448
9,532
1,953
2,971
6,385
5,571
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 • December 2005
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2005
Item
2003
2004'
Mar.
Apr.
May
June
July
Aug.
Sept/
Oct.
1 Sales of own shares2
1,710,931
1,658,952
165,785
144,492
136,078
134,943
134,584
149,375
138,526
153,432
2 Redemptions of own shares
1,495,077
215,854
1,449,032
209,920
148,026
17,759
132,057
12,435
119,075
17,003
122,673
12,270
115,906
18,678
133,891
15,484
125,447
13,079
145,299
8,133
5,362,397
6,193,664
6,169,231
6,076,485
6,264,465
6,350,829
6,563,380
6,597,170
6,676,342
6,559,654
258,594
5,103,803
304,816
5,888,848
328,885
5,840,346
315,830
5 760 655
318,691
5 945 774
315,528
6 035 301
296,235
6 267 145
301,663
6 295 507
294,070
6 382 272
298,640
6 261 014
4 Assets
4
5 Cash5
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51 DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE: Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2004
2005
Q1
Q2
Q3
Q4
Q1
Q2
Q3
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
951.2
321.4
455.3
174.5
1,022.2
365.8
457.4
198.9
1,145.0
430.4
471.7
242.9
1,056.2
374.4
475.6
206.2
1,075.4
390.1
471.3
213.9
1,097.2
416.4
456.3
224.5
1,145.0
430.4
471.7
242.9
1,141.6
425.7
469.2
246.7
1,153.6
423.8
478.1
251.7
1,164.6
431.2
474.6
258.8
57.0
23 8
50.8
24 6
46.3
24 8
49.6
24 1
47.3
24 0
46.5
24 1
46.3
24 8
45.4
23 4
44.8
23 1
38.5
24 4
870.3
586.4
946.8
753.9
1,073.9
765.4
982.5
750.4
1,004.1
732.2
1,026.5
746.8
1,073.9
765.4
1,072.9
747.9
1,085.7
764.4
1,101.7
794.6
1,456.8
1,700.8
1,839.3
1,732.9
1,736.4
1,773.3
1,839.3
1,820.9
1,850.0
1,896.2
48.0
141.5
56.2
136.3
65.2
163.9
59.8
138.6
52.6
141.4
64.1
154.3
65.2
163.9
63.1
149.2
60.0
136.2
70.8
134.6
88.2
631.9
339.8
207.3
99.9
747.1
424.7
236.6
118.2
828.3
415.3
248.3
104.9
760.6
435.6
233.4
108.1
769.1
426.6
238.5
112.7
776.7
422.6
242.9
118.2
828.3
415.3
248.3
114.7
855.5
388.0
250.5
116.8
872.1
398.6
266.3
120.8
870.6
435.4
264.0
1,456.8
1,700.8
1,839.3
1,732.9
1,736.4
1,773.3
1,839.3
1,820.9
1,850.0
1,896.2
LIABILITIES AND CAPITAL
10 Bank loans
11 Commercial paper
Debt
12 Owed to parent
14 All other liabilities
15 Capital, surplus, and undivided profits
16 Total liabilities and capital
NOTE: Some of the data presented in the table is available in the Board's monthly G.20
(422) statistical release, which is available at www.federalreserve.gov/releases.
1. Includes finance company subsidiaries of bank holding companies but not of retailers
and banks. Data are amounts carried on the balance sheets of finance companies; securitized
pools are not shown, as they are not on the books.
2. Before deduction for unearned income and losses. Excludes pools of securitized assets.
Securities Markets and Corporate Finance
1.52
DOMESTIC FINANCE COMPANIES
31
Owned and Managed Receivables'
Billions of dollars, amounts outstanding
Type of credit
Apr.
Aug.
May
Seasonally adjusted
2
3
4
Consumer . . .
Real estate . .
Business
519.8
210.5
541.3
1,323.8
1,405.2
543.3
229.2
551.4
568.6
267.8
568.8
1,433.6
1,427.2
577.5
278.1
563.2
578.4
278.1
569.7
579.3
277.2
570.7
581.5
280.1
564.1
580.0
281.8
565.2
579.5
285.6
568.6
Not seasonally adjusted
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 receivables6 . . .
Securitized assets4
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables6 .
1,428.7
1,425.1
1,330.2
1,411.8
523.9
160.2
83.3
38.9
38.7
547.7
197.0
70.0
37.6
60.9
573.3
230.0
62.5
40.5
96.3
573.3
219.5
63.7
41.6
99.7
574.5
216.1
64.5
42.6
101.0
574.3
212.3
64.9
43.5
102.0
578.6
208.2
67.3
44.5
102.9
578.4
203.0
68.1
45.5
106.1
579.4
202.7
68.6
45.3
109.3
151.9
5.7
31.1
14.0
210.6
135.0
39.5
132.8
5.5
31.6
12.2
229.4
152.2
46.7
109.9
4.8
19.3
9.8
268.2
190.1
52.7
117.0
4.6
18.0
9.1
271.3
194.5
52.3
119.5
4.6
17.3
8.9
274.4
198.0
52.0
121.7
4.5
16.5
8.7
275.3
198.9
52.3
125.9
4.5
16.9
8.5
277.9
199.7
52.0
126.9
4.4
16.1
8.3
283.6
206.1
51.6
125.6
4.4
15.4
8.1
289.2
212.0
51.5
33.0
3.2
543.0
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5
26.7
3.8
553.1
74.9
18.2
40.3
16.3
277.6
74.6
203.1
105.0
21.8
3.5
570.4
91.6
18.4
46.2
27.0
264.8
70.6
194.3
115.3
21.1
3.5
569.7
91.9
21.5
42.8
27.5
260.8
69.6
191.2
116.5
20.8
3.5
574.6
94.0
21.6
45.0
27.5
262.9
70.6
192.3
116.5
20.6
3.5
575.5
97.4
21.7
47.8
27.9
265.2
71.3
193.9
117.1
20.3
5.9
572.1
99.1
21.9
48.1
29.2
264.5
70.0
194.5
114.5
20.1
5.9
560.2
88.9
22.0
37.7
29.3
265.0
70.8
194.2
116.3
19.8
5.9
560.1
88.1
21.8
37.1
29.2
266.3
70.6
195.7
118.5
50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.4
48.4
2.2
44.2
2.1
22.1
12.5
9.6
25.1
44.8
2.2
40.6
2.0
23.6
11.5
12.1
30.2
48.8
2.2
44.6
2.0
21.6
9.9
11.7
30.2
49.0
2.2
44.8
2.0
22.1
10.5
11.7
30.1
43.9
2.2
39.7
2.0
21.7
10.0
11.7
30.2
43.2
2.8
40.2
.1
23.4
11.7
11.6
27.5
39.5
2.8
36.6
.1
23.0
11.4
11.6
27.5
36.9
2.8
34.0
.1
22.9
11.3
11.6
27.4
NOTE: This table has been revised to incorporate several changes resulting from the
benchmarking of finance company receivables to the June 1996 Survey of Finance Companies. In that benchmark survey, and in the monthly surveys that have followed, more-detailed
breakdowns have been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table. The new information has
resulted in some reclassification of receivables among the three major categories (consumer,
real estate, and business) and in discontinuities in some component series between May and
June 1996.
Includes finance company subsidiaries of bank holding companies but not of retailers and
banks. Data in this table also appear in the Board's G.20 (422) monthly statistical release,
available at www.federalreserve.gov/releases.
1. Owned receivables are those carried on the balance sheet of the institution. Managed
receivables are outstanding balances of pools upon which securities have been issued; these
balances are no longer carried on the balance sheets of the loan originator. Data are shown
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 • December 2005
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2005
Item
2002
2003
2004
Apr.
May
June
July
Aug.
Sept.
Oct.
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
261.1
197.0
77.8
28.9
.62
272.1
205.3
77.9
28.7
.61
292.0
215.0
76.0
28.8
.51
307.0
223.8
75.3
29.1
.50
320.8
235.6
75.5
29.1
.51
329.9
238.6
74.4
29.2
.52
330.7
240.4
75.1
29.2
.48
323.1
237.7
75.9
29.1
.52
332.3
243.3
75.5
29.2
.58
338.6
246.3
75.1
29.4
.58
6.35
6.44
n.a.
5.71
5.80
n.a.
5.68
5.75
n.a.
5.77
5.84
n.a.
5.75
5.82
n.a.
5.69
5.76
n.a.
5.69
5.76
n.a.
5.75
5.83
n.a.
5.91
5.99
n.a.
5.95
6.03
n.a.
n.a.
5.81
n.a.
5.03
n.a.
5.19
n.a.
5.12
n.a.
4.97
n.a.
4.81
n.a.
5.03
n.a.
5.14
n.a.
5.06
n.a.
5.39
SECONDARY MARKETS
Yield (percent per year)
10 GNMA securities6
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
794,253
n.a.
n.a.
898,445
n.a.
n.a.
904,555
n.a.
n.a.
851,936
n.a.
n.a.
828,079
n.a.
n.a.
808,225
n.a.
n.a.
788,786
n.a.
n.a.
768,280
n.a.
n.a.
727,824
n.a.
n.a.
717,254
n.a.
n.a.
14 Mortgage transactions purchased (during period)
370,641
572,852
262,646
8,865
11,198
8,964
9,365
11,564
10,021
10,136
Mortgage commitments (during period)
15 Issued7
16 To sells
400,327
12 268
522,083
33 010
149,429
8 828
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
568,173
4,573
563,600
644,436
n.a.
n.a.
652,936
n.a.
n.a.
662,063
n.a.
n.a.
668,137
n.a.
n.a.
665,003
n.a.
n.a.
660,035
n.a.
n.a.
677,764
n.a.
n.a.
684,530
n.a.
n.a.
678,178
n.a.
n.a.
21 Sales
n.a.
547,046
n.a.
713,260
n.a.
365,148
n.a.
32,043
n.a.
33,654
n.a.
29,917
n.a.
28,633
n.a.
40,883
n.a.
43,002
n.a.
34,986
22 Mortgage commitments contracted (during period)9
620,981
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)
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
Q3
1 All holders .
2
3
4
5
By type of property
One- to four-family residences
Multifamily residences
Nonfarm, nonresidential
Farm
By type of holder
6 Major financial institutions . . .
7
Commercial banks2
One- to four-family
9
Multifamily
10
Nonfarm, nonresidential .
11
Farm
12 Savings institutions3
13
One- to four-family
14
Multifamily
15
Nonfarm, nonresidential .
16
Farm
17 Life insurance companies . .
18
One- to four-family
19
Multifamily
20
Nonfarm, nonresidential .
Farm
21
22 Federal and related agencies
23 Government National Mortgage Association
24
One- to four-family
25
Multifamily
26 Farmers Home Administration4
27
One- to four-family
28
Multifamily
29
Nonfarm, nonresidential
30
Farm
31 Federal Housing Admin, and Dept. of Veterans Affairs . . .
32
One- to four-family
33
Multifamily
34 Resolution Trust Corporation
35
One- to four-family
36
Multifamily
37
Nonfarm, nonresidential
38
Farm
39
40 Federal Deposit Insurance Corporation
One- to four-family
41
Multifamily
42
Nonfarm, nonresidential
43
Farm
44
Federal
National Mortgage Association
45
One- to four-family
46
Multifamily
47
48 Federal Land Banks
49
One- to four-family
50
Farm
51 Federal Home Loan Mortgage Corporation
52
One- to four-family
53
Multifamily
54 Federal Agricultural Mortgage Corporation
Farm
55 Mortgage pools or trusts5
56
Government National Mortgage Association
One- to four-family
57
58
Multifamily
59 Federal Home Loan Mortgage Corporation
60
One- to four-family
61
Multifamily
62 Federal National Mortgage Association . . .
63
One- to four-family
64
Multifamily
65 Farmers Home Administration4
66
One- to four-family
67
Multifamily
68
Nonfarm, nonresidential
69
Farm
70
Private
mortgage conduits
71
One- to four-family6
72
Multifamily
73
Nonfarm, nonresidential
74
Farm
75
Federal
Agricultural Mortgage Corporation
76
Farm
77 Individuals and others7 . . .
78
One- to four-family
79
Multifamily
80
Nonfarm, nonresidential
81
Farm
Q4
Q1
Q2
10,716,050'
11,093,880'
Q3>
7,420,995'
8,243,014'
5,571,346'
447,820'
1,283,983'
117,846
6,244,136'
486,680'
1,386,691'
125,507
7,026,105'
557,179'
1,518,173'
133,583
7,768,288'
593,991'
1,639,338'
140,528
8,013,733'
608,994'
1,698,776'
141,710'
617,615'
1,745,250'
142,963'
8,501,976'
632,363'
1,813,322'
146,219'
8,821,496
641,613
1,888,295
148,339
1,790,877'
1,789,819
1,023,851
84,851
645,619
35,498
758,037'
620,402'
64,570'
72,534
531
243,021
4,931
35,631
188,376
14,083
3,089,434'
2,058,426
1,222,126
94,178
704,097
38,025
780,989'
631,057'
68,624'
80,730
577
250,019
4,657
36,816
195,040
13,506
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
3,793,190'
2,517,411
1,522,198
114,986
836,332
43,894
1,007,894'
829,040'
85,716'
92,510'
628
267,885
4,653
39,464
209,489
14,279
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
4,033,131'
2,690,415'
1,633,827'
122,807
888,751'
45,030
1,068,024'
883,372'
90,294'
93,761'
597
274,692
5,024
40,655
215,154
13,859
4,181,155'
2,790,446
1,696,037
129,021
919,168
46,220
1,112,919'
921,684'
95,048'
95,582'
604
277,790'
5,082
41,113'
217,576'
14,019
4,317,545
2,896,249
1,751,282
135,558
962,271
47,137
1,140,810
946,867
96,694
96,644
605
280,486
5,132
41,512
219,683
14,159
373,240
8
537,131
50
50
0
69,546
13,964
11,613
40,529
3,439
4,192
1,304
2,887
0
0
0
0
0
548,489
45
45
0
69,935
13,557
11,565
41,520
3,294
4,498
1,328
3,169
0
0
0
0
0
13
2
3
8
0
165,957
155,419
10,538
40,885
2,406
38,479
62,792
40,309
22,483
202
202
433,565
5
5
0
72,377
14,908
11,669
42,101
3,700
3,854
1,262
2,592
0
0
0
0
0
46
7
9
30
0
185,801
172,230
13,571
46,257
2,722
43,535
63,887
35,851
28,036
966
966
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
2
554,645'
42
42
0
70,690
13,338
11,537
42,559
3,255
4,936'
1,346'
3,589'
0
0
0
0
0
11
552,979'
39
39
0
70,995
13,274
11,527
42,957
3,237
4,784'
1,356'
3,429'
0
0
0
0
0
9
2
550,130
36
36
0
72,044
13,124
11,500
44,172
3,247
4,703
1,359
3,344
0
0
0
0
0
9
1
15
0
239,433
219,867
19,566
49,307
2,901
46,406
60,270
27,274
32,996
990
990
15
0
245,883
221,267
24,616
51,849
3,051
48,798
60,808
23,403
37,405
900
900
7
0
249,515
222,535
26,980
52,793
3,106
49,687
61,360
23,389
37,971
887
887
2
7
0
249,397
222,417
26,980
53,341
3,139
50,202
61,736
23,532
38,204
865
865
6
0
249,230
222,250
26,980
54,769
3,223
51,546
60,986
23,246
37,740
838
838
5
0
248,994
222,014
26,980
55,489
3,265
52,224
61,207
23,331
37,876
832
832
3,543,665'
591,368
569,460
21,908
948,409
940,933
7,476
1,290,351
1,238,125
52,226
0
0
0
0
0
711,881'
433,366'
53,759
224,756'
0
1,656
1,656
3,955,508'
537,888
512,098
25,790
1,082,062
1,072,990
9,072
1,538,287
1,478,610
59,677
0
0
0
0
0
796,904'
487,486'
59,225
250,193'
0
367
367
4,456,274'
473,738
444,820
28,918
1,157,339
1,141,241
16,098
1,857,045
1,780,884
76,161
0
0
0
0
0
967,149'
605,411'
67,288
294,450'
0
1,003
1,003
4,843,163'
452,555
421,364
31,191
1,197,412
1,180,757
16,655
1,892,680
1,816,973
75,707
0
0
0
0
0
1,299,552'
898,498'
71,953
329,101'
0
964
964
4,964,296'
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
1,422,122'
998,892'
75,170
348,061'
0
938
938
5,088,004'
431,193'
398,619'
32,574
1,218,978
1,202,023
16,955
1,896,003
1,820,163
75,840
0
0
0
0
0
1,540,949'
1,098,107'
77,309'
365,533'
0
882
882
5,284,959'
421,149'
388,291'
32,858
1,245,930
1,228,600
17,330
1,900,149
1,824,143
76,006
0
0
0
0
0
1,716,856'
1,241,175'
82,955'
392,726'
0
875
875
5,519,570
411,870
378,641
33,229
1,279,664
1,261,865
17,799
1,924,810
1,847,818
76,992
0
0
0
0
0
1,902,392
1,403,710
83,705
414,977
0
835
835
713,214'
497,566'
80,478'
111,725'
23,445
764,507'
547,832'
77,343'
114,501'
24,830
854,462'
621,022
80,244'
126,771'
26,424
957,302'
717,617'
81,543'
130,372'
27,770
1,019,420'
773,101'
81,986'
136,312'
28,021'
1,040,272'
791,661'
80,852'
139,485'
28,273'
1,074,787'
822,261'
78,340'
145,307'
28,879'
1,112,497
856,251
76,406
150,541
29,299
72,452
15,824
11,712
40,965
3,952
3,290
1,260
2,031
0
0
0
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 • December 2005
1.55 CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
Holder and type of credit
Apr.1
May'
July'
Aug.
Seasonally adjusted
2,009,850'
732,665'
1,189,187
2 Revolving . . .
3 Nonrevolving2
752,792'
1,257,058
781,057'
1,318,054'
2,113,398
2,124,651
2,122,028
780,427
1,332,971
785,865
1,338,786
784,684
1,337,343
2,148,368
2,159,976
789,322
1,345,356
790,640
1,357,728
795,246
1,364,730
Not seasonally adjusted
1,948,987'
2,037,519'
2,128,554'
2,103,521
2,112,156
2,110,398
2,120,681
2,132,822
2,154,803
602,570'
237,790
195,744
129,576
68,705
77,520
637,082
669,386'
295,424
205,877
114,658
77,850
63,348
610,976
704,270'
366,834'
215,384
98,363
91,271'
64,799
587,634
683,112
360,897
216,691
100,647
90,754
60,875
590,546
690,490
359,737
219,057
99,039
91,825
61,106
590,903
685,201
357,793
221,148
98,795
92,931
60,976
593,553
683,951
355,600
221,367
98,647
94,002
61,088
606,026
694,658
354,551
225,516
98,120
96,493
61,081
602,402
705,390
357,357
229,223
98,205
98,984
63,270
602,376
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
753,942'
246,395'
38,948
22,228
n.a.
16,260
39,848
390,263
774,887'
285,015'
37,576
22,410
n.a.
23,848
19,363
386,675
804,953'
314,649'
40,496'
23,244
n.a.
27,905
17,899
380,760
773,504
287,979
41,613
22,310
n.a.
27,192
17,184
377,225
781,894
295,968
42,649
22,431
n.a.
27,538
17,262
376,045
780,317
292,530
43,467
22,622
n.a.
27,896
17,252
376,550
785,497
293,725
44,497
22,816
n.a.
28,242
17,266
378,951
785,791
296,856
45,479
23,130
n.a.
28,792
17,240
374,295
792,738
298,081
45,346
23,385
n.a.
29,341
19,189
377,396
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
1,195,045
356,175
198,842
173,516
129,576
52,445
37,673
246,819
1,262,632
384,371
257,847
183,467
114,658
54,002
43,986
224,301
1,323,602'
389,621
326,338'
192,140
98,363
63,366'
46,900
206,874
1,330,018
395,133
319,284
194,381
100,647
63,562
43,690
213,321
1,330,262
394,522
317,088
196,626
99,039
64,287
43,844
214,857
1,330,081
392,672
314,326
198,526
98,795
65,035
43,725
217,003
1,335,184
390,226
311,103
198,551
98,647
65,760
43,822
227,075
1,347,031
397,803
309,073
202,386
98,120
67,701
43,840
228,107
1,362,065
407,308
312,011
205,838
98,205
69,642
44,081
224,980
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.
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.
1.56 TERMS OF CONSUMER CREDIT1
Percent per year except as noted
2005
Item
2002
2003
2004
Feb.
Mar.
Apr.
May
June
July
Aug.
INTEREST RATES
Commercial banks2
1 48-month new car
2 24-month personal
7.62
12.54
6.93
11.95
6.60
11.89
6.86
12.01
n.a.
n.a.
n.a.
n.a.
6.93
12.03
n.a.
n.a.
n.a.
n.a.
7.08
12.22
Credit card plan
3 All accounts
4 Accounts assessed interest
13.40
13.11
12.30
12.73
12.71
13.21
12.21
14.13
n.a.
n.a.
n.a.
n.a.
12.76
14.81
n.a.
n.a.
n.a.
n.a.
12.48
14.75
4.29
10 74
3.40
9 72
4.36
8 96
4.68
9 36
4.35
9 38
4.76
9 41
5.25
9 34
5.55
8 93
5.71
8 55
5.80
8 72
56.8
57 5
61.4
57 5
60.5
56 8
59.1
57 9
59.7
57 9
59.5
57 9
59.2
57 5
59.9
57 5
60.4
57 5
60.1
57 6
94
100
95
100
89
100
89
98
88
99
87
99
88
98
88
98
89
97
88
97
24,747
14,532
26,295
14,613
24,888
15,136
24,290
15,453
24,118
15,395
23,725
15,750
22,989
16,011
23,717
16,316
25,086
16,509
25,059
16,383
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
Ql
Q2
Q3
Q4
Ql'
Q2'
Q3
Nonfinancial sectors
1 Total net borrowing by domestic nonfinancial sectors
1,027.3'
825.2'
By sector and instrument
2 Federal government
3
Treasury securities
4
Budget agency securities and mortgages
-71.2
-71.0
-.2
-295.9
-294.9
-1.0
5 Nonfederal
1,094.6'
1,319.1'
1,651.3'
2,034.4'
1,701.0'
1,922.8'
2,046.3'
2,311.7
1,998.3
-5.6
-5.1
-.5
257.6
257.1
.5
396.0
398.4
-2.4
502.9
501.9
1.1
367.2
370.8
-3.6
266.3
266.5
-.2
311.2
310.9
.3
630.7
631.5
-.7
5.8
7.2
-1.4
231.9
232.3
-.4
,098.6'
1,121.1'
1,100.2'
1,061.6'
1,255.2'
1,531.5'
1,333.8'
1,656.4'
1,735.2'
1,680.9
1,992.4
6
7
8
9
10
11
12
13
14
15
16
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
37.4
54.4
221.7
82.2'
26.1
563.8'
418.0'
39.2'
100.6'
6.1'
113.0'
48.1
23.6
162.6
98.2'
79.6
540.8'
401.0'
26.8
106.1'
6.9'
168.1'
-88.3
122.9
347.7
-81.6'
8.9
658.3'
496.1'
40.6
113.9'
7.7
132.3'
-64.2
159.4
132.3
-87.0'
20.3
813.7'
672.8'
37.2
96.0'
7.7
87.1'
-40.0
135.1
158.3
-80.2'
10.0
983.6'
782.0'
69.9
123.6'
8.1
88.4'
33.8
174.0
114.2
-38.4'
14.3
1,143.8'
964.7'
23.7
148.4'
7.1
89.7'
32.3
70.2
6.7
85.3'
-15.3'
1,092.9'
889.6'
67.5
125.3'
10.4
61.8'
22.4
157.3'
51.7
-31.5'
.2'
1,334.6'
1,097.9'
42.3
185.2'
9.1
121.7'
-25.4
130.9'
138.3
119.1'
100.7'
1,180.6'
938.6'
57.6'
178.6'
5.9
90.9'
53.7
224.9
34.3
88.5
84.0
1,137.8
918.7
30.9
183.1
5.1
57.7
9.2
127.7
30.1
210.3
70.2
1,459.7
1,137.4
64.2
246.7
11.4
85.2
4.6
240.5
82.7
42.1
23.4
1,554.3
1,225.3
30.6
289.5
8.8
117.0
17
18
19
20
21
22
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
487.5'
572.6'
373.3'
194.3
5.0'
38.5
551.1'
554.5'
346.2'
197.1
11.2'
15.5
600.5'
393.9'
220.7'
162.7
10.5
105.8
736.2'
181.5'
25.2'
148.5
7.9
143.9
825.2'
312.3'
148.4'
156.1
7.7
117.8
1,024.4'
351.1'
207.4'
137.5
6.2
156.0
968.7'
314.0'
131.8'
169.0
13.1
51.1
1,063.3'
447.9'
261.5'
168.1'
18.3
145.2'
990.4'
624.3'
432.0'
183.8'
8.5
120.5'
929.4
549.3
351.4
195.0
2.9
202.2
1,158.4
728.3
429.8
281.5
17.0
105.7
1,235.9
608.0
362.3
220.6
25.1
220.7
19.0
16.3
7.9
.5
-5.7
63.0
31.7
21.2
11.4
-1.3
-43.8
-14.2
-18.5
-7.3
-3.8
70.8
36.1
31.6
5.3
-2.3
54.3
22.3
41.9
-7.7
-2.1
84.2
99.6
-4.3
-6.7
-4.3
-63.6
-30.1
-40.1
7.0
-.4
97.5
24.4
86.8
-9.0
-4.8
210.7
160.7
34.4
18.5
-2.9
17.6
13.7
-4.6
12.1
-3.5
87.5
33.6
60.7
-5.3
-1.6
111.7
116.7
-3.5
5.2
-6.7
1,046.3'
888.2'
1,050.8'
1,389.9'
1,705.6'
1,637.4'
2,020.2'
2,257.0'
2,329.3
2,085.7
23 Foreign net borrowing in United States
24
Commercial paper
25
Bonds
26
Bank loans n.e.c
27
Other loans and advances
28 Total domestic plus foreign
2,118.7'
Financial sectors
29 Total net borrowing by financial sectors . ..
1,015.6'
778.4'
877.5'
823.3'
1,009.2'
710.8'
926.0'
727.4'
832.2'
598.5
1,302.3
By instrument
Federal government-related
Government-sponsored enterprise securities
Mortgage pool securities
Loans from U.S. government
593.3
318.8
274.6
.0
434.9
235.2
199.7
.0
642.7
304.1
338.5
.0
546.7
219.8
326.8
.0
574.3
243.7
330.5
.0
127.2
.6
126.7
.0
299.9
211.9
88.0
.0
155.3
93.1
62.1
.0
-110.1'
-45.5
-64.6
.0
-144.9
-209.6
64.7
.0
39.3
-84.2
123.5
.0
-65.5
-243.9
178.4
.0
422.3'
176.2
144.8'
-12.8
107.1
6.9
343.5'
131.7
160.7'
3.8
42.5
4.9
234.8'
-45.3
239.4'
13.0
25.5
2.2
276.7'
-63.5
323.7'
1.5
6.8
8.2
434.9'
-63.8
463.9'
-4.8
31.2
8.3
583.6'
129.6
331.0'
17.5
79.1
26.5
626.1'
-2.5
490.3'
-25.8
148.1
15.9
572.2'
-31.4
554.6'
44.2
-15.7
20.6
942.3'
41.1
762.8'
13.6
85.1
39.6
743.4
122.1
563.3
5.8
27.0
25.2
1,263.0
473.2
680.1
-24.0
114.5
19.3
749.2
140.2
538.9
39.5
10.8
19.9
67.2
48.0
2.2
.7
318.8
274.6
146.8'
70.7
.0
12.3'
-17.2
91.6
60.0
27.3
.0
-.7
235.2
199.7
157.2'
81.9
.0
2.6'
15.6
-.3
52.9
-2.0
1.5
.6
304.1
338.5
230.4'
1.3
.0
3.2
1.4
-54.6
49.7
-23.4
2.0
2.0
219.8
326.8
181.9'
42.2
.0
24.5
-1.7
-.5
49.2
6.1
2.2
2.9
243.7
330.5
219.5'
118.2
.0
31.9
6.4
-1.4
182.7
1.1
-2.7
-.4
.6
126.7
147.1'
111.2
.0
67.1
51.9
25.6
6.8
166.6
4.9
2.7
211.9
88.0
355.1'
-8.4
.0
63.9'
2.5
32.1
60.1
-7.0
.9
.1
93.1
62.1
417.0'
115.5'
.0
42.1'
33.2
-89.6
61.2
96.9
6.1
9.7
-45.5
-64.6
367.9'
253.2'
.0
217.6'
-26.6
-43.6
163.0
-30.6
1.5
-1.6
-209.6
64.7
430.3
75.8
.0
76.2
11.2
17.6
41.4
82.4
3.1
2.3
-84.2
123.5
688.4
-23.6
.0
92.8
-5.2
381.4
82.7
-7.1
.3
.4
-243.9
178.4
620.6
12.6
.0
65.5
18.0
-43.9
30
31
32
33
34 Private
35
Open market paper
36
Corporate bonds
37
Bank loans n.e.c
38
Other loans and advances
39
Mortgages
40
41
42
43
44
45
46
47
48
49
50
51
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
Issuers of asset-backed securities (ABSs) . . . .
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
36
Federal Reserve Bulletin Statistical Supplement • December 2005
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS1—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
52 Total net borrowing, all sectors
53
54
55
56
57
58
59
60
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
Qi
Q2
Q4
Q3
2,061.9'
1,666.6'
1,928.3'
2,213.2'
2,714.7'
2,829.5'
2,563.4'
2,747.7
3,089.2'
2,927.8
3,388.0
3,092.0
229.9
522.1
54.4
374.5P
69.8'
127.5
570.7'
113.0'
211.6
139.0
23.6
344.5'
113.3'
120.8
545.6'
168.1'
-147.8
637.1
122.9
568.6'
-75.8'
30.6
660.5'
132.3'
-91.5
804.2
159.4
487.6'
-80.2'
24.7
821.9'
87.1'
-81.6
970.3
135.1
664.1'
-92.6'
39.1
991.9'
88.4'
263.0
630.2
174.0
440.9'
-27.6'
89.1
1,170.3'
89.7'
-.3
667.1
70.2
456.8'
66.5'
132.4'
1,108.8'
61.8'
15.4
421.6
157.3
693.0
3.7
-20.3
1,355.1
121.7
176.4
201.1
130.9'
935.5'
151.3'
182.9'
1,220.2'
90.9'
189.4
485.8
224.9
593.1
106.4
107.5
1,163.0
57.7
516.0
45.2
127.7
770.9
180.9
183.1
1,478.9
85.2
261.5
166.4
240.5
618.1
86.8
27.5
1,574.1
117.0
Funds raised through mutual funds and corporate equities
61 Total net issues
192.7
244.7
299.5
228.8
407.1
553.9
214.9
301.0
264.3
378.6
27.3
-85.4
62 Corporate equities
63
Nonfmancial corporations
64 Foreign shares purchased by U.S. residents .
65 Financial corporations
66 Mutual fund shares
1.5
10.4
14.3
-2.4
191.2
5.3
-118.2
106.7
16.8
239.4
98.3
-48.1
109.1
37.3
201.2
46.3
-41.6
17.0
71.0
182.4
119.1
-57.8
114.2
62.7
288.0
89.8
-82.2
66.5
105.5
464.1
99.3
-159.5
160.9
97.9
115.6
-7.9
-203.2
67.0
128.4
308.9
-43.3
-183.2
38.5
101.4
307.6
-21.7
-251.6
159.3
70.6
400.2
-196.4
-351.1
83.3
71.4
223.7
-264.4
-446.2
140.0
41.8
179.0
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.2
through F4, available at www.federalreserve.gov/releases.
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Ql
Q2
Q3
Q4
Ql'
Q2'
Q3
3,089.2' 2,927.8
3,388.0
3,092.0
57.1
-81.4
6.9
.8
130.7
.2
788.1
2,082.5
-10.5
982.5
760.2
219.7
-9.4
12.0
8.8
46.5
187.4
89.0
7.5
-4.1
-198.5
206.9
6.4
-65.5
64.7
421.0
4.5
.0
37.3
67.3
211.2
44.6
-76.3
25.1
-.1
95.8
-14.1
750.1
2,607.5
32.0
597.2
426.8
126.6
29.4
14.4
239.7
41.6
65.8
49.2
46.5
1.1
-78.5
123.4
1.7
-66.5
123.5
669.0
14.6
.0
120.1
316.1
296.2
358.7
189.6
18.2
-.6
151.6
16.2
826.7
1,890.4
66.8
695.9
568.9
167.5
-46.1
5.6
141.0
47.8
185.1
78.1
49.4
29.3
-49.2
94.0
4.1
-277.9
178.4
601.3
27.9
.0
89.0
-322.3
237.0
NET LENDING IN CREDIT MARKETS2
1 Total net lending in credit markets
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
29
30
31
32
Domestic nonfederal nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Life insurance companies
Other insurance companies
Private pension funds
State and local government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
Asset-backed securities issuers (ABSs)
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
2,061.9'
1,666.6'
1,928.3'
2,213.2' 2,714.7'
2,829.5'
2,563.4' 2,747.7'
120.1'
39.8'
-21.7
-2.7'
104.8
6.4
171.2
1,764.3'
25.7
312.2
318.6
-17.0
6.2
4.4
67.2
27.5
53.5
-3.0
99.3
45.5
184.9
48.4
9.6
287.3
274.6
167.5'
97.1
.0
1.5'
-34.7
97.3
12.9'
-87.4'
26.1
2.1'
72.1
11.6
241.9
1,400.1'
33.7
357.9
339.5
23.9
-12.2
6.7
56.2
28.0
57.9
-8.7
-96.4
36.3
138.3
20.9
-5.6
246.0
199.7
144.3'
108.6
.0
-5.3'
68.9
17.3
-79.6'
-175.0'
-4.3
6.4
93.4
6.0
305.3
1,696.5'
39.9
205.2
191.6
-.6
4.2
10.0
44.4'
41.5
130.9
9.0
13.3
-53.8
267.3
126.1
3.2
304.7
338.5
217.0'
-4.8
.0
8.6'
92.4
-96.6
94.2'
-17.8'
26.1'
-.6'
86.5
9.6
422.7
1,686.8'
77.7
404.4
393.8
6.2
3.1
1.3
33.4'
42.7
233.0
39.9
25.7
-50.7
-17.7
144.2
8.6
224.1
326.8
189.9'
21.2
.0
23.8'
28.4
-85.1
240.7'
186.1'
-1.0'
3.0'
52.5
-2.5
531.6
1,945.0'
37.2
299.5
323.3
-43.0
8.6
10.6
126.0'
50.7
180.6
67.0
14.2
11.2'
-95.9
137.7
36.2
236.5
330.5
226.1'
84.2
.0
25.7'
79.6
90.9'
-169.2'
-288.6'
22.5'
2.7'
94.2
4.7
814.0
2,180.0'
22.1
863.9
828.1
22.7
1.2
11.9
117.3'
47.0
216.7
105.3
44.7
109.7'
-212.1
231.7
9.9
18.8
126.7
159.7'
172.1
.0
86.4'
-190.0
244.2'
102.2'
30.8'
42.5'
2.7'
26.2
-11.9
793.6
1,679.5'
53.5
486.6
495.7
-25.3
-2.3
18.5
186.5'
58.8
162.2
65.1
22.9
67.4'
-151.8
8.1
21.7
168.0
88.0
372.4'
64.9
.0
56.0'
-118.8
57.6'
54.1'
24.6
593.0
1,685.1'
71.3
263.5
252.7
-2.7
3.0
10.5
128.0'
18.9
158.2
73.5
44.9
-63.1'
-153.7'
103.4
.3
104.3
62.1
424.6'
90.1'
.0
31.9'
302.8
10.9'
428.9'
292.1'
63.2'
1.1'
72.6'
-1.9
817.0
1,845.1'
57.6
714.7
615.5
86.5
-2.0
14.8
259.2'
43.3
154.9
50.6
27.0
-5.1'
17.7'
125.2
12.7
-106.0
-64.6
332.6'
191.4'
.0
177.5'
-110.7
-37.2'
2,061.9'
1,666.6'
1,928.3'
2,213.2'
2,714.7'
2,829.5'
2,563.4'
2,747.7'
3,089.2'
2,927.8
3,388.0
3,092.0
-8.7
-3.0
1.0
48.9
18.1
151.2
45.1
131.1
251.7
169.0
1.5
191.2
262.5
104.4
50.8
113.5
22.9
-88.3
1,177.1'
-.4
-4.0
2.4
126.9
12.0
-71.4
188.8
116.2
232.5
114.5
5.3
239.4
402.3
146.1
50.2
189.8
25.9
-52.0'
1,379.3'
4.3
.0
1.3
6.8
-28.0
204.3
267.1'
68.5'
428.5
23.7
98.3
201.2
-80.4
3.1
77.2
213.2
14.4'
-24.6'
674.1'
3.2
.0
1.0
21.0
17.4
43.5
270.8'
50.0'
-16.7
106.6
46.3
182.4
70.8
-87.0
60.1
181.4
22.2
-82.0'
480.4'
-.9
.0
.6
22.3
-14.6'
133.8
254.8'
61.8'
-207.5
227.2
119.1
288.0
102.4
132.5
66.8
213.9'
8.8
-78.3'
486.7'
152.4
-205.4'
180.6
93.0'
278.2'
-132.4
259.9
89.8
464.1
305.0
285.2
25.5
298.1'
37.9
-47.7'
1,669.3'
16.2
239.0'
114.0'
404.4'
178.1'
-85.9
-278.2
99.3
115.6
170.2
177.1
34.7
205.0'
23.1
-16.7'
1,001.4'
.7
79.8
-45.7'
78.7'
181.8'
207.4'
-156.1'
396.8
-7.9
308.9'
217.5
-10.2
37.9
211.8'
21.9'
-65.0'
1,333.9'
-3.2
.0
.1
196.6
-8.0'
223.3'
215.7'
322.8'
-171.8'
-45.8'
-43.3
307.6
248.2
214.3
34.4
208.2
15.7'
-65.7'
1,117.7'
-14.5
.0
.8
371.2
145.9
108.4
72.4
258.0
-71.4
580.7
-21.7
400.2
187.0
9.7
56.0
226.8
36.7
-31.2
445.1
.0
1.1
49.8
167.6
.4
229.7
237.3
60.7
424.4
-196.4
223.7
251.6
73.3
56.9
181.1
3.5
-76.5
1,349.2
-8.2
.0
.9
104.8
-247.5
-24.0
445.2
392.8
222.2
173.7
-264.4
179.0
292.2
23.4
56.4
218.5
-3.5
-77.2
709.1
4,701.8'
4,770.4'
4,081.2'
3,584.8'
4,531.9'
6,581.0'
4,957.1'
5,537.7'
5,856.3'
6,428.2
5,285.4
-.7
31.8
3.2
36.3
10.8
244.6'
-1.2
64.1
17.3
133.9
32.6
-367.7'
-7.5
17.2
-58.1'
21.4
-301.0'
-.6
7.9
7.2
40.2'
19.7
-42.9'
-31.5
-101.7'
-.4
92.4
.7
-127.1'
1.6
452.3'
.0
-53.1
70.4
-278.7'
12.5
649.2'
-.3
124.9
-33.4
84.5'
21.4
27.0'
-.5
82.3
22.2
-159.9'
15.7
332.2'
.4
339.6
12.8
589.1
-54.7
-585.2
-95.2
-13.1
92.9
4.9
368.5
1.7
34.2
-.6
-115.5
24.9
-84.0
-7.4
-.8
23.6
9.0
-.3
23.5
5.7
-.5
10.9
-1.6
-.7
150.0'
-8.9
.0
38.6'
70.3
2.2
37.5'
-15.3
2.6
-41.9'
23.9
2.9
45.9'
32.7
3.3
60.3'
-18.3
5.0
-56.9
-35.5
5.4
1.1
29.7
6.8
33.2
3,405.5'
4,612.5'
6,051.4'
4,611.4'
5,240.7'
5,467.9'
5,456.2
6,098.4
5,355.0
445.0'
426.3'
-37.7'
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
33 Netflowsthrough credit markets
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
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
53 Total financial sources .
54
55
56
57
58
59
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements . . . .
Taxes payable
Miscellaneous
Floats not included in assets (-)
60 Federal government checkable deposits
61 Other checkable deposits
62 Trade credit
63 Total identified to sectors as assets .. .
4,849.7'
4,859.3'
4,393.2'
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.
-.3
49.6
-4.4
2. Excludes corporate equities and mutual fund shares.
38
Federal Reserve Bulletin Statistical Supplement • December 2005
1.59
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING1
Billions of dollars, end of period
Transaction category or sector
Q2
Ql
Q3
Q4
Ql'
Q2'
Q3
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
By sector and instrument
2 Federal government
3
Treasury securities
4
Budget agency securities and mortgages
5 Nonfederal
18,051.6'
19,146.8'
20,465.9'
22,149.6'
22,582.2'
22,987.1'
23,501.6'
24,090.5'
24,583.5
25,070.2
25,663.8
3,385.1
3,357.8
27.3
3,379.5
3,352.7
26.8
3,637.0
3,609.8
27.3
4,033.1
4,008.2
24.9
4,168.9
4,143.8
25.1
4,209.6
4,185.4
24.2
4,292.9
4,268.7
24.2
4,395.0
4,370.7
24.3
4,559.7
4,535.6
24.1
4,516.8
4,493.1
23.7
4,589.6
4,566.0
23.6
14,666.5'
19,208.7'
18,413.3'
16,828.9'
20,023.8
21,074.2
6
7
8
9
10
11
12
13
14
15
16
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
278.4
1,480.9
2,230.3
1,338.0'
932.1
6,677.1'
5,075.2'
388.2
1,103.5'
110.2
1,729.8'
190.1
1,603.7
2,578.0
1,257.0'
941.0
7,335.4'
5,571.3'
428.8
1,217.5
117.8
1,862.0'
126.0
1,763.1
2,710.3
1,170.0'
961.3
8,149.1'
6,244.2'
466.0
1,313.5'
125.5
1,949.1'
85.9
1,898.2
2,868.6
1,122.3'
971.3
9,132.7'
7,026.2'
535.9'
1,437.1'
133.6
2,037.5'
95.5
1,940.4
2,897.1
1,107.1'
969.5
9,381.3'
7,235.0'
541.8'
1,469.2'
135.3
2,022.3'
102.5
1,974.0
2,898.8
1,127.7'
976.8
9,664.0'
7,465.8'
558.7'
1,501.2'
138.3
2,033.7'
109.3
1,993.7'
2,911.7
1,120.6'
971.1'
10,024.3'
7,768.3'
569.3
1,546.2'
140.5
2,078.0'
101.7
2,031.3'
2,946.3
1,155.9'
996.3'
10,335.5'
8,013.7'
583.6'
1,596.4
141.7
2,128.6'
115.6
2,085.9
2,954.9
1,172.5
1,010.3
10,581.0
8,209.6
591.4
1,637.0
143.0
2,103.7
114.6
2,135.0
2,962.4
1,224.4
1,041.1
10,955.0
8,502.0
607.4
1,699.4
146.2
2,120.8
119.6
2,174.5
2,983.1
1,235.8
1,040.7
11,355.1
8,821.1
615.1
1,770.6
148.3
2,165.4
17
18
19
20
21
22
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
6,960.6'
6,513.6'
4,535.4'
1,796.7
181.5
1,192.3
7,561.1'
6,908.1
4,756.7'
1,959.3
192.0
1,298.1
8,297.3'
7,089.6'
4,781.9'
2,107.8
199.8
1,442.0
9,142.9'
7,413.9'
4,942.3'
2,264.0
207.6
1,559.7
9,324.9'
7,489.9'
4,985.5'
2,298.7
205.6
1,598.6
9,574.7'
7,576.0'
5,022.3'
2,341.1
212.5
1,626.9
9,882.9'
7,680.9'
5,081.4'
2,382.0'
217.5
1,644.9'
10,169.4'
7,848.2'
5,200.5'
2,428.6'
219.1
1,678.0'
10,324.4
7,971.3
5,277.3
2,477.7
216.2
1,728.1
10,621.5
8,160.6
5,388.3
2,548.2
224.1
1,771.2
10,959.5
8,307.4
5,474.4
2,602.2
230.8
1,807.2
23 Foreign credit market debt held in
United States
727.6
683.9
754.6
808.9
829.9
814.7
839.1
891.1
895.9
918.7
945.8
24
25
26
27
120.9
486.0
70.5
50.2
106.7
467.5
63.2
46.4
142.8
499.1
68.6
44.1
165.1
541.0
60.9
42.0
190.0
539.9
59.2
40.8
183.4
529.9
60.9
40.5
189.2
551.6
58.7
39.7
228.7
560.2
63.3
38.9
232.6
559.0
66.3
38.0
242.1
574.2
65.0
37.3
270.1
573.3
66.3
36.0
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
28 Total credit market debt owed by nonfinancial
sectors, domestic and foreign
22,958.5'
19,830.6'
23,412.1'
23,801.9'
24,340.7'
25,988.9
24,981.6'
Financial sectors
29 Total credit market debt owed by
financial sectors
8,104.8'
8,982.3'
9,805.6'
10,800.8'
10,950.6'
11,162.2'
11,365.3'
11,614.7'
11,737.9
12,040.6
12,219.3
30
31
32
33
34
35
36
37
38
39
By instrument
Federal government-related
Government-sponsored enterprise securi
Mortgage pool securities
Loans from U.S. government
Private
Open market paper
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
4,319.7
1,826.4
2,493.2
.0
3,785.2'
1,214.7
1,957.8'
91.1
438.3
83.4
4,962.3
2,130.6
2,831.8
.0
4,019.9'
1,169.4
2,197.2'
104.1
463.7
85.6
5,509.0
2,350.4
3,158.6
.0
4,296.6'
1,105.9
2,520.9'
105.6
470.5
93.8
6,083.3
2,594.1
3,489.1
.0
4,717.5'
1,042.1
2,970.8'
100.8
501.7
102.1
6,104.4
2,594.3
3,510.2
.0
4,846.2'
1,055.0
3,061.1'
104.8
516.6
108.7
6,170.7
2,647.3
3,523.5
.0
4,991.5'
1,028.2
3,193.2'
99.2
558.1
112.7
6,214.1
2,670.5
3,543.6
.0
5,151.2'
1,022.0
3,344.6'
112.5
554.3
117.8
6,201.3'
2,659.2
3,542.2
.0
5,413.4'
1,076.3
3,520.3'
113.2
575.8
127.7
6,153.8
2,606.8
3,547.1
.0
5,584.0
1,087.9
3,668.9
114.6
578.6
134.0
6,153.8
2,585.7
3,568.1
.0
5,886.7
1,179.2
3,847.3
109.5
611.9
138.8
6,141.9
2,524.8
3,617.2
.0
6,077.3
1,216.7
3,980.5
121.7
614.5
143.8
40
41
42
43
44
45
46
47
48
49
50
51
52
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
Issuers of asset-backed securities (ABSs) .
Brokers and dealers
Finance companies
Mortgage companies
Real estate investment trusts (REITs) . . . .
Funding corporations
266.7
242.5
287.7
3.4
2.5
1,826.4
2,493.2
1,475.5'
40.9
778.0
16.0
168.0
503.9
296.0
266.1
285.7
4.9
3.1
2,130.6
2,831.8
1,706.0'
42.3
779.2
16.0
171.2
449.3
325.5
286.4
262.3
6.9
5.1
2,350.4
3,158.6
1,887.8'
40.6
821.4
16.0
195.7
448.8
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
2,093.3'
47.0
939.6
16.0
227.7
447.4
355.8
347.5
267.2
8.4
7.9
2,594.3
3,510.2
2,123.8'
60.0
959.0
16.0
244.4
456.1
358.7
351.5
308.0
9.6
8.6
2,647.3
3,523.5
2,214.1'
60.6
963.1
16.0
260.4'
440.8
356.8
366.6
308.2
9.9
8.6
2,670.5
3,543.6
2,314.0'
68.9
995.1
16.0
285.8'
421.3
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,415.1'
62.2
1,057.4'
16.0
340.1'
428.5
373.0
403.3
324.3
11.8
10.7
2,606.8
3,547.1
2,516.6
65.0
1,067.7
16.0
359.2
436.5
383.4
408.6
344.1
12.5
11.2
2,585.7
3,568.1
2,690.1
63.7
1,068.3
16.0
382.4
506.2
389.1
421.5
344.3
12.6
11.3
2,524.8
3,617.2
2,840.6
68.2
1,076.0
16.0
398.8
498.8
28,812.9'
31,026.1'
33,759.2'
34,362.7'
34,964.1'
35,706.0'
36,596.3'
37,217.3
38,029.5
38,828.8
1,466.2
8,341.8
1,603.7
5,242.7'
1,424.3'
1,451.1
7,421.0'
1,862.0'
1,374.7
9,146.0
1,763.1
5,730.3'
1,344.2'
1,475.9
8,242.9'
1,949.1'
1,293.1
10,116.3
1,898.2
6,380.4'
1,283.9'
1,515.0
9,234.8'
2,037.5'
1,340.4
10,273.4
1,940.4
6,498.2'
1,271.1'
1,527.0
9,490.0'
2,022.3'
1,314.2
10,380.3
1,974.0
6,621.9'
1,287.9'
1,575.4
9,776.7'
2,033.7'
1,320.5
10,507.1
1,993.7'
6,807.9'
1,291.8'
1,565.1'
10,142.1'
2,078.0'
1,406.7
10,596.3
2,031.3'
7,026.8'
1,332.4'
1,611.0'
10,463.2'
2,128.6'
1,436.1
10,713.5
2,085.9
7,182.8
1,353.5
1,626.8
10,715.0
2,103.7
1,535.9
10,670.7
2,135.0
7,383.9
1,398.9
1,690.3
11,093.9
2,120.8
1,606.4
10,731.6
2,174.5
7,537.0
1,423.8
1,691.2
11,498.9
2,165.4
53 Total credit market debt, domestic and foreign
54
55
56
57
58
59
60
61
Open market paper
U.S. government securities .
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances . .
Mortgages
Consumer credit
1,614.0
7,704.8
1,480.9
4,674.1'
1,499.6'
1,420.5
6,760.5'
1,729.8'
1. Data in this table appear in the Board's Z.I quarterly statistical release, tables L.2
through L.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction category or sector
Ql
Q2
Q3
Q4
Ql'
Q2'
Q3
CREDIT MARKET DEBT OUTSTANDING2
1 Total credit market assets
26,884.0' 28,812.9' 31,026.1" 33,759.2'
34,362.7'
34,964.1'
35,706.0" 36,596.3'
37,217.3
38,029.5
38,828.8
3,519.4'
2,312.4'
250.4
65.0'
891.5
272.6
2,590.8
20,501.2'
511.8
5,006.3
4,419.5
511.3
20.5
55.0
.,088.8
379.7
.,943.9
509.4
624.0
743.2
1,317.5
1,097.7
105.3
1,794.4
2,493.2
1,385.7'
851.2
32.1
39.3'
223.6
318.9
3,692.8'
2,223.8'
271.3
73.7'
1,124.0
285.6
3,918.4
25,862.5'
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,292.6'
514.5
2,488.3
625.2
677.2
649.9'
1,471.3
1,505.7
153.3
2,559.7
3,489.1
2,004.6'
951.8
32.1
97.5'
424.1
229.5'
3,594.6'
2,108.4'
266.0
74.4'
1,145.8
286.8
4,113.6
26,367.7'
674.1
6,135.3
5,525.9
492.9
36.7
79.9
1,348.8'
524.2
2,546.3
651.5
688.4
677.3'
1,416.9
1,558.9
155.8
2,555.7
3,510.2
2,038.2'
989.2
32.1
119.0'
405.0
270.5'
3,657.0'
2,160.0'
269.3
75.1'
1,152.6
283.8
4,321.2
26,702.1'
687.4
6,270.2
5,665.7
484.0
36.1
84.5
1,391.2'
541.5
2,586.1
667.8
694.2
694.1'
1,352.0
1,558.9
161.2
2,603.8
3,523.5
2,132.8'
1,009.9
32.1
133.0'
325.5
264.2'
3,730.4'
2,222.9'
269.4
75.6'
1,162.5
289.9
4,475.4
27,210.3'
700.3
6,336.9
5,734.3
478.6
36.9
87.1
1,426.9'
547.7
2,631.6
686.2
705.4
678.4'
1,322.1'
1,586.7
161.3
2,631.3
3,543.6
2,234.7'
1,033.4'
32.1
155.8'
453.5
266.5'
3,882.4'
2,326.9'
293.9
75.9'
1,185.8'
289.5
4,679.7
27,744.7'
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4'
556.5
2,661.4
698.8
712.1
677.1'
1,346.3
1,622.8
164.5
2,605.9
3,542.2
2,326.9'
1,081.4'
32.1
200.2'
394.9
298.4'
3,854.8
2,279.3
283.1
76.1
1,216.4
289.5
4,866.7
28,206.2
717.3
6,745.2
6,054.3
563.1
34.0
93.8
1,495.8
566.0
2,713.8
721.1
714.0
676.1
1,294.3
1,670.0
166.0
2,581.4
3,547.1
2,426.1
1,076.8
32.1
209.5
440.0
331.5
3,910.2
2,312.0
281.9
76.1
1,240.3
286.0
5,065.3
28,768.0
724.7
6,909.7
6,178.8
592.1
41.4
97.4
1,550.2
579.0
2,728.9
733.4
725.6
676.4
1,252.7
1,698.0
166.5
2,571.2
3,568.1
2,594.8
1,085.4
32.1
239.5
466.2
379.9
3,941.5
2,294.1
297.0
75.9
1,274.6
290.0
5,277.7
29,319.6
736.4
7,084.1
6,327.2
628.2
29.9
98.8
1,588.6
592.5
2,781.0
752.9
738.0
683.7
1,246.8
1,723.8
167.5
2,503.1
3,617.2
2,740.5
1,094.2
32.1
261.8
442.9
443.2
26,884.0' 28,812.9' 31,026.1" 33,759.2"
34,362.7'
34,964.1'
35,706.0'
36,596.3'
37,217.3
38,029.5
38,828.8
46.1
2.2
23.2
803.3
221.3
1,413.1
2,860.4
1,052.6
1,812.1
1,197.3
4,435.3
822.7
819.1
9,000.1
2,747.7
204.8
10,669.4'
46.8
2.2
24.5
810.1
191.4
1,603.2
3,127.5'
1,121.0'
2,240.6
1,233.7
4,135.5
825.9
880.0
8,571.8
2,667.3
219.2
11,469.8'
55.8
2.2
25.5
831.1
206.0
1,646.7
3,398.3'
1,171.0'
2,223.9
1,340.3
3,638.4
738.8
920.9
7,814.8
2,738.1
241.4
12,201.4'
61.5
2.2
26.2
891.5
113.4'
1,791.8
3,720.7'
1,331.5'
1,968.9
1,618.4
4,912.0
952.8
1,022.5
9,426.6'
2,897.6
264.8
12,960.4'
58.9
58.7
26.5
895.6
167.1'
1,847.7'
3,793.5'
1,378.6'
1,914.8
1,569.2
4,966.2
987.2
1,031.9
9,537.5'
2,942.9
270.1
13,089.6'
26.7
915.5
168.3'
1,857.4
3,830.2'
1,436.4'
1,866.9'
1,673.5
4,983.2
985.5
1,038.2
9,534.5'
3,003.9
283.1
13,288.8'
62.2
2.2
26.7
964.7
187.6'
1,929.7'
3,876.8'
1,504.9'
1,879.8
1,650.7'
5,436.0
1,037.9
1,060.4
10,150.0'
3,075.7
274.9
13,783.7'
56.3
2.2
26.9
1,057.5
196.4
1,921.5
3,940.9
1,575.4
1,841.0
1,782.8
5,471.6
1,051.5
1,069.4
9,957.0
3,103.7
289.2
13,802.9
54.3
26.0
853.4
192.9'
1,780.6
3,653.1'
1,232.8'
2,016.4
1,567.5
4,653.2
871.3
1,013.2
9,213.9'
2,840.5
250.2
12,714.5'
27.2
1,070.0
229.7
1,952.3
3,970.8
1,637.1
1,832.4
1,911.8
5,593.7
1,058.5
1,087.2
10,151.3
3,170.0
290.0
13,991.2
52.0
2.2
27.4
1,096.2
184.1
1,934.1
4,071.2
1,741.5
1,876.6
1,962.9
5,882.0
1,066.3
1,107.5
10,438.9
3,248.6
297.3
13,530.2
51 Total liabilities
65,014.7'
67,983.3' 70,220.9'
76,703.1'
78,325.6'
79,443.8'
80,659.0'
83,500.2'
84,363.5
86,058.9
87,347.8
Financial assets not included in liabilities (+)
52 Gold and special drawing rights
53 Corporate equities
54 Household equity in noncorporate business . . .
21.6
17,627.0
4,773.4'
15,310.6
4,875.8'
23.2
11,900.5
5,037.9'
23.7
15,618.5
5,387.3'
23.7
15,953.0
5,443.9'
23.7
16,108.6
5,579.4'
23.8
15,771.0
5,778.3'
24.6
17,376.8'
5,927.4'
22.6
16,985.2
6,186.0
22.3
17,138.4
6,416.8
19.3
17,852.5
6,648.0
-8.5
628.6
-4.3
417.9
120.0
-3,296.1'
-8.6
621.1
11.1
372.4'
93.3'
-3,385.4'
-9.1
629.0
15.5
412.6'
126.3'
-3,089.1'
-9.5
678.6
12.6
390.7'
79.1'
-2,768.0'
-9.6
701.7
16.5
354.9'
68.1'
-2,827.5'
-9.5
688.4
27.4
306.3'
87.5'
-2,640.8'
-9.6
719.6
20.4
339.8'
98.9'
-2,562.5'
-9.7
740.2
27.3
270.4'
103.0'
-2,585.5'
-9.6
825.1
35.7
414.5
96.2
2,855.6
-9.4
801.3
23.3
459.2
99.4
-2,831.7
-9.0
809.8
27.5
447.4
82.4
-3,320.5
-2.3
22.0
135.0
-12.3
21.6
145.9
-11.7
20.9
295.9'
-17.9
20.8
334.5
1.1
17.4
314.1
.1
21.5
254.9
3.1
14.7
280.9
11.2
23.6
359.9'
4.9
20.9
314.9
1.7
25.6
264.8
2.5
19.9
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
29
30
31
32
Domestic nonfederal nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Life insurance companies
Other insurance companies
Private pension funds
State and local government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
Asset-backed securities (ABSs) issuers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
3,387.0'
2,084.6'
246.1
71.3'
985.0
278.6
2,949.0
22,198.3'
551.7
5,210.5
4,610.1
510.7
24.7
65.0
1,133.2'
421.2
2,074.8
518.4
637.3
689.4
1,584.9
1,223.8
108.5
2,099.1
2,831.8
1,602.6'
846.4
32.1
48.0'
316.0
223.8
3,428.8'
2,014.4'
272.2'
70.7'
1,071.4
288.2
3,424.1
23,885.1'
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,166.6'
463.9
2,307.8
558.3
663.0
638.7
1,567.1
1,368.0
117.1
2,323.2
3,158.6
1,792.5'
867.6
32.1
71.8'
344.4
138.7
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
33 Total credit market debt
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
55
56
57
58
59
60
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
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
61 Federal government checkable deposits
62 Other checkable deposits
63 Trade credit
64 Totals Identified to sectors as assets .
89,424.3'
90,332.5'
88,792.3'
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.
62.3
99,011.8' 101,109.5' 102,419.9' 103,326.7' 107,888.6' 108,710.4 110,802.1 113,518.3
2. Excludes corporate equities and mutual fund shares.
40
Federal Reserve Bulletin Statistical Supplement • December 2005
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2004
2004
2005
2004
2005
2005
Series
Q4
Q1
Q2
Q3'
Q4
Q1
Q2
Q3
Capacity (percent of 2002 output)
Output (2002=100)
Q4
Q1
Q2
Q3'
Capacity utilization rate (percent)2
1 Total Industry
106.2
107.2
107.6
107.9
133.7
134.2
134.7
135.3
79.4
79.9
79.9
79.8
2 Manufacturing
3
Manufacturing (NAICS)
107.1
107.6
108.3
108.7
108.6
109.0
109.2
109.7
137.0
138.3
137.6
138.9
138.3
139.6
139.1
140.4
78.2
77.8
78.7
78.3
78.5
78.1
78.5
78.1
4
5
112.4
105.2
114.2
102.7
114.9
98.0
116.8
98.3
147.3
123.7
148.5
123.7
150.0
123.8
151.5
123.9
76.3
85.0
76.9
83.0
76.6
79.1
77.1
79.4
104.7
113.2
137.7
105.2
114.1
146.1
105.6
114.6
151.8
106.4
115.5
159.5
141.7
144.5
188.9
141.9
144.4
194.5
142.2
144.3
201.2
142.6
144.3
208.6
73.9
78.3
72.9
74.2
79.0
75.1
74.3
79.4
75.4
74.6
80.1
76.4
103.4
109.7
103.9
110.6
104.4
109.4
107.5
112.8
127.6
136.2
127.2
137.1
126.8
138.2
126.5
139.5
81.1
80.5
81.7
80.7
82.3
79.1
85.0
80.8
103.3
101.8
102.5
91.8
106.0
102.1
103.2
91.9
110.1
102.0
104.0
90.1
105.6
101.2
104.4
92.1
158.5
127.5
129.2
122.3
159.1
127.4
129.3
121.3
159.8
127.3
129.3
120.3
160.6
127.3
129.4
119.4
65.2
79.9
79.4
75.1
66.6
80.1
79.8
75.8
68.8
80.1
80.4
74.9
65.7
79.5
80.7
77.1
99.1
106.1
104.3
103.3
99.7
99.8
106.2
104.1
103.7
102.1
97.6
106.8
104.0
103.2
102.6
96.4
102.7
101.3
104.6
100.8
116.0
113.6
134.8
121.5
117.4
116.0
113.7
135.1
121.3
117.7
115.9
113.9
135.3
121.1
117.8
115.8
114.0
135.6
120.8
117.9
85.5
93.4
77.4
85.0
84.9
86.0
93.4
77.1
85.5
86.8
84.2
93.8
76.8
85.3
87.1
83.2
90.1
74.7
86.6
85.5
20 Mining
21 Electric and gas utilities
99.4
103.7
100.4
103.1
100.4
104.8
96.2
107.7
112.5
122.8
112.2
123.0
112.0
123.0
111.9
122.9
88.3
84.4
89.4
83.9
89.6
85.2
85.9
87.7
MEMOS
22 Computers, communications equipment, and
semiconductors
148.6
159.5
165.7
175.9
204.1
211.9
221.8
233.6
72.8
75.3
74.7
75.3
23 Total excluding computers, communications
equipment, and semiconductors
104.1
104.7
104.9
104.9
130.4
130.5
130.7
130.8
79.8
80.2
80.3
80.2
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
104.6
105.3
105.4
105.5
133.1
133.3
133.5
133.8
78.6
79.0
78.9
78.9
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
2.12
41
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION' —CONTINUED
Seasonally adjusted
1973
1975
Previous cycle2
High
Low
High
Latest cycle3
2005
2004
Series
Low
High
Low
Nov.
June
July
Aug.'
Sept.'
Oct.'
Nov.p
Capacity ut lization rate (percent)4
1 Total Industry
88.9
74.1
86.6
70.7
85.1
78.6
79.3
80.3
80.2
80.3
78.9
79.8
80.2
2 Manufacturing
3
Manufacturing (NAICS)
88.3
88.4
71.6
71.4
86.2
86.3
68.4
67.8
85.5
85.5
77.1
76.9
78.0
77.7
78.7
78.2
78.6
78.2
78.8
78.4
78.1
77.7
79.4
79.0
79.4
79.2
89.4
101.9
69.7
69.7
86.8
90.4
62.8
46.9
84.6
94.9
73.4
74.6
76.1
85.6
76.8
77.1
76.8
76.9
77.4
79.2
77.1
81.9
78.9
82.1
78.5
83.0
91.7
94.5
69.7
74.5
82.8
92.6
61.8
58.2
81.7
85.3
72.6
73.9
73.8
78.3
74.2
79.7
74.5
80.6
74.7
79.1
74.7
80.5
76.2
82.7
76.1
83.0
86.9
66.1
89.4
76.4
81.5
75.9
72.5
75.5
76.0
76.7
76.6
76.9
77.6
99.3
95.6
68.0
54.6
91.9
95.2
64.7
45.0
89.0
89.3
77.0
56.0
81.2
80.2
82.9
80.4
83.9
78.5
84.8
81.1
86.2
82.8
88.2
82.1
88.6
78.0
75.8
87.6
67.5
72.4
86.7
85.8
68.8
75.6
87.3
86.9
81.3
81.5
65.3
79.8
68.8
80.2
69.2
80.2
69.5
79.7
58.5
78.6
70.4
79.2
71.5
80.1
86.3
89.5
77.6
61.9
84.5
89.9
80.6
72.6
85.9
91.5
81.1
77.6
79.4
74.7
80.8
75.7
81.0
76.8
80.3
76.9
80.7
77.5
81.0
78.4
80.8
79.0
96.7
92.2
85.3
96.1
86.0
74.3
80.8
69.1
61.8
75.5
95.2
91.7
83.2
90.2
88.5
81.3
70.4
68.0
71.3
86.1
93.6
89.0
85.0
89.5
91.0
85.6
83.0
80.0
76.2
80.7
85.5
93.6
77.2
84.6
84.4
84.4
94.7
76.7
85.0
86.6
83.3
92.6
76.5
85.4
85.7
83.1
91.4
75.7
86.2
85.6
83.3
86.1
71.8
88.2
85.1
85.3
85.1
73.1
87.8
85.4
84.8
89.9
74.6
89.2
84.7
20 Mining
21 Electric and gas utilities
93.6
96.3
87.6
82.7
93.9
88.2
78.7
77.6
86.1
92.7
83.6
84.1
88.7
83.9
90.0
88.0
89.1
88.0
88.6
88.2
80.1
86.8
80.0
85.1
83.8
85.4
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.4
88.7
74.0
80.9
74.0
72.5
74.5
74.8
75.6
75.5
75.0
75.5
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.5
85.5
78.8
79.7
80.7
80.6
80.7
79.2
80.2
80.6
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.3
68.1
86.0
77.3
78.5
79.1
79.0
79.2
78.5
79.9
79.9
4
5
Durable manufacturing
Primary metal
6
7
8
14
Fabricated metal products . . . .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts
Aerospace and
miscellaneous
transportation equipment .
Nondurable manufacturing
Food, beverage, and tobacco
products
Textile and product mills . . . .
15
16
17
18
19
Paper
Petroleum and coal products . .
Chemical
Plastics and rubber products . .
Other manufacturing (non-NAICS) .
9
10
11
12
13
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table also appear in the Board's G.17 (419) monthly statistical release, 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 November 2005.
The recent annual revision will be described in an upcoming issue of the Federal Reserve
Bulletin.
2. Monthly highs, 1978-80; monthly lows, 1982.
3. Monthly highs, 1988-89; monthly lows, 1990-91.
4. Capacity utilization is calculated as the ratio of the Federal Reserve's seasonally
adjusted index of industrial production to the corresponding index of capacity.
42
2.13
Federal Reserve Bulletin Statistical Supplement • December 2005
INDUSTRIAL PRODUCTION
Indexes and Gross Value'
Monthly data seasonally adjusted
Group
2002
proportion
2004
Apr.
May
July
Aug.r
Sept/
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
106.0
106.7
106.9
107.4
107.3
107.2
107.4
108.3
108.3
108.6
106.9
108.2
59.0
31.1
8.9
4.7
0.4
1.5
2.4
22.1
18.3
9.8
1.0
4.9
2.1
3.9
104.8
103.1
106.9
109.3
113.6
103.9
103.2
101.6
101.5
102.7
88.2
102.2
99.6
101.9
06.2
03.7
07.3
09.9
12.6
04.4
03.2
02.2
02.3
03.0
87.7
03.3
01.1
02.1
106.9
104.1
107.3
110.1
106.6
104.1
103.4
102.9
102.6
103.0
87.0
103.7
103.4
104.1
107.1
103.9
106.3
108.2
108.2
104.2
103.6
102.9
103.1
103.5
86.0
103.8
105.6
102.0
107.6
104.7
109.7
113.9
115.0
104.5
103.8
102.8
103.2
103.0
85.8
105.5
104.5
101.1
107.7
104.6
107.7
110.3
113.1
105.5
102.9
103.4
103.1
103.2
85.1
104.7
105.2
104.6
107.7
104.1
106.0
107.8
115.2
102.9
103.0
103.3
103.3
103.2
85.4
105.2
105.6
103.1
108.1
104.6
107.1
109.3
124.7
104.0
102.5
103.5
103.9
104.2
83.3
105.4
106.2
102.0
109.0
105.8
108.5
111.7
120.4
105.6
102.5
104.7
104.0
104.7
82.9
105.2
105.6
107.2
109.1
105.2
107.1
109.5
116.1
105.2
102.3
104.4
103.8
104.7
84.7
104.2
104.7
107.1
109.5
105.6
110.1
114.4
113.6
106.5
103.1
103.9
103.2
103.8
85.0
103.8
104.4
106.5
108.8
106.1
112.4
117.5
109.3
108.5
104.9
103.6
103.6
104.4
85.8
104.0
104.1
103.7
110.6
105.9
112.1
116.1
110.7
108.2
106.5
103.5
104.0
104.7
84.7
104.8
104.9
101.6
110.5
105.1
108.8
110.1
115.3
106.5
106.7
103.6
103.7
104.3
85.4
104.3
104.5
103.3
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.3
1.9
3.1
5.3
1.8
109.4
105.6
113.8
108.2
113.1
12.9
10.2
19.9
10.0
17.6
114.1
110.6
122.6
110.8
119.0
115.2
111.8
124.4
111.5
119.4
115.9
114.8
125.5
111.2
121.6
116.3
115.1
126.3
111.4
122.5
116.8
116.4
127.4
111.3
124.5
117.9
118.7
129.2
111.7
124.1
118.4
119.3
131.0
111.6
124.9
120.0
118.5
133.9
113.4
126.8
120.1
118.7
136.1
112.5
127.4
115.0
88.7
138.1
113.1
124.6
123.5
122.9
141.3
114.7
128.2
124.6
124.3
143.2
115.5
127.6
21
22
Construction supplies
Business supplies
4.3
11.2
104.6
103.9
05.7
05.0
106.1
106.2
106.0
106.7
106.4
106.1
106.2
106.5
107.3
106.7
107.5
106.7
106.9
107.6
107.5
107.4
108.2
107.9
109.6
107.3
112.2
107.6
108.4
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
41.0
30.7
19.1
4.0
6.7
8.4
11.6
0.8
2.7
4.5
10.3
104.6
106.5
110.4
99.9
125.8
103.7
100.1
89.2
96.7
104.2
99.6
05.9
08.3
12.8
00.4
30.8
05.2
01.0
87.1
98.0
05.9
99.3
106.5
108.8
113.4
100.8
132.5
105.1
101.3
87.4
98.4
106.3
100.4
106.7
109.6
114.7
100.8
136.4
105.3
101.3
87.6
98.4
104.6
99.4
107.0
109.7
115.2
102.4
138.0
104.6
101.0
85.4
98.6
104.9
99.7
106.8
109.4
114.8
100.4
137.8
104.8
100.7
85.1
98.6
103.9
99.8
106.5
109.2
114.9
99.1
139.7
104.5
100.1
83.5
97.5
103.7
99.2
106.5
109.3
115.2
99.5
141.0
104.1
99.8
83.6
96.4
102.6
99.2
107.3
109.5
115.5
102.4
141.7
103.0
99.7
84.4
97.2
102.9
101.3
107.2
109.8
115.9
101.1
143.4
103.2
100.0
85.3
96.1
103.3
100.3
107.4
110.2
117.0
101.6
145.7
104.0
99.3
84.5
96.0
102.1
100.0
104.2
109.3
118.5
103.2
147.1
105.5
94.8
84.1
95.8
90.9
92.1
105.0
110.7
119.8
103.9
149.4
106.3
96.4
84.3
97.1
93.3
91.6
106.9
111.9
120.6
101.6
152.6
107.1
98.2
84.3
96.7
98.1
95.0
94.8
92.6
102.9
104.5
04.0
05.8
104.6
106.5
104.5
106.8
104.9
106.9
104.8
107.1
104.6
107.1
104.7
107.3
105.5
108.0
105.4
108.2
105.5
108.2
103.7
106.2
105.0
107.7
105.6
108.9
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 .
2,877.6
43.5
31.1
12.4
15.5
2,937.0
2,955.4
2,960.9
3,015.3
2,997.0
2,174.0 2,202.4 2,218.7 2,220.4 2,241.9 2,238.6 2,228.2 2,239.3 2,265.9 2,262.5 2,270.1 2,248.3 2,287.3 2,282.3
1,558.7 1,566.1 1,576.6 1,571.0 1,588.6 1,584.7 1,571.5 1,578.3 1,601.0 1,589.7 1,598.1 1,599.4 1,594.7 1,589.0
699.7
698.7
616.3
638.4
644.4
652.3
656.1
656.8
660.3
664.6
668.2
677.2
676.0
650.6
703.7
712.8
718.4
718.1
717.6
717.2
722.1
721.8
726.5
724.3
727.2
724.1
728.5
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2004
2005
2004
avg.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.r
Sept/
Oct.'
Nov.'
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
79.1
105.4
105.8
106.9
107.4
107.5
107.9
108.1
108.4
108.6
109.0
108.2
108.6
108.3
108.6
108.7
109.0
109.0
109.4
109.1
109.6
109.5
110.1
108.8
109.3
110.8
111.4
111.1
111.8
321
43.6
1.5
109.8
104.9
112.1
105.3
112.9
105.4
113.7
108.7
114.8
105.7
114.2
104.9
114.3
104.8
115.0
105.9
115.5
104.4
115.9
104.9
117.3
104.0
117.3
106.6
120.5
110.8
120.3
109.8
327
331
332
333
2.3
2.3
5.7
5.3
105.4
103.4
103.2
110.7
106.0
105.8
104.6
113.1
107.7
104.4
104.6
113.1
106.3
103.8
105.4
114.1
106.4
101.9
105.3
114.0
105.1
102.3
105.0
114.3
105.7
99.5
105.5
114.3
105.9
98.9
105.7
114.5
106.4
95.5
105.6
115.0
105.9
95.3
106.1
116.3
105.9
98.2
106.6
114.1
107.2
101.5
106.6
116.1
109.1
101.8
108.9
119.2
110.2
102.8
108.8
119.7
334
8.0
130.7
136.9
139.7
144.3
146.8
147.4
149.5
152.2
153.6
156.5
160.1
161.8
164.4
168.1
335
3361-3
2.2
7.4
101.5
108.0
103.6
109.2
103.6
110.0
104.3
108.6
103.7
113.4
103.6
109.8
103.5
107.9
104.4
108.8
105.1
111.4
106.3
109.2
107.2
113.1
109.0
115.9
111.5
115.4
111.8
109.9
3364-9
3.6
100.7
103.6
104.2
104.2
106.3
107.5
109.5
110.4
110.2
110.9
111.7
94.1
113.4
115.3
337
339
1.8
3.3
101.4
105.5
102.0
107.0
102.7
107.5
102.5
108.5
102.2
108.9
101.6
108.8
100.0
108.9
100.3
109.0
99.9
109.7
99.8
109.7
100.2
111.6
101.7
111.9
100.3
113.0
99.8
112.0
35.5
101.0
101.8
101.9
102.1
102.2
101.9
101.9
101.9
102.1
102.1
101.5
100.0
100.8
101.9
311,2
313,4
315,6
322
323
11.4
1.4
1.0
3.1
2.4
102.3
93.1
88.4
98.0
96.0
102.6
91.4
88.2
99.1
96.8
102.6
90.5
87.4
99.0
97.2
103.4
92.6
86.4
99.9
97.9
103.0
91.6
86.1
99.6
97.0
103.3
91.5
85.5
99.8
96.4
103.2
89.6
85.8
98.2
96.5
104.3
89.8
83.9
96.8
97.0
104.5
90.8
83.6
97.8
96.5
104.8
91.9
85.5
96.6
97.9
103.9
91.9
85.9
96.2
97.2
104.5
92.4
86.8
96.5
97.9
104.9
93.2
85.6
98.8
98.4
104.6
93.6
86.5
98.2
99.1
324
325
1.7
10.7
103.7
102.8
106.4
104.1
107.2
104.5
105.3
103.8
107.6
104.6
105.7
103.8
106.9
104.1
105.5
103.9
107.9
103.9
105.6
103.7
104.2
102.7
98.2
97.4
97.1
99.3
102.7
101.3
326
3.8
102.5
102.8
103.3
104.0
103.7
103.5
103.8
103.1
102.9
103.2
104.1
106.5
105.9
107.5
1133,5111
4.8
98.8
99.1
101.1
102.5
101.5
102.4
102.5
103.2
102.0
101.0
100.9
100.3
100.8
99.9
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
99.5
103.1
104.1
98.2
99.9
103.0
104.1
97.1
100.4
105.2
106.2
99.8
99.9
102.9
104.0
97.3
100.9
101.7
102.9
95.6
100.4
104.8
105.5
101.1
100.5
103.1
104.1
98.3
99.8
102.9
103.2
101.1
100.8
108.3
109.7
101.2
99.8
108.1
109.6
100.9
99.2
108.4
110.1
100.4
89.7
106.7
108.9
96.2
89.5
104.5
106.0
97.1
93.8
104.8
106.1
98.1
78.7
103.2
104.5
104.9
105.2
105.6
105.2
105.1
105.4
105.7
105.6
105.9
105.0
107.0
107.1
76.5
105.1
106.7
107.3
108.0
108.1
108.1
108.3
108.7
108.8
109.1
109.2
108.1
110.3
111.2
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, 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 November 2005.
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 • December 2005
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
-475,211
-421,181
977,276
-1,398,457
10,016
15,453
99,770
-84,317
-5,437
-64,046
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
-519,679
-494,814
1,022,567
-1,517,381
46,304
51,834
121,842
-70,008
-5,530
-71,169
-668,074
-617,583
1,151,448
-1,769,031
30,439
36,234
127,921
-91,687
-5,795
-80,930
Q3
Q4
Q1
Q2'
Q3
-166,982
-157,465
290,370
-447,835
6,254
7,694
30,343
-22,649
-1,440
-15,771
-188,359
-169,221
298,887
-468,108
3,236
4,691
33,413
-28,722
-1,455
-22,374
-198,668
-173,052
306,444
-479,496
643
2,067
28,377
-26,310
-1,424
-26,259
-197,781
-173,599
317,267
-490,866
-1,541
-102
28,490
-28,592
-1,439
-22,641
-195,821
-182,795
320,764
-503,559
512
2,037
34,709
-32,672
-1,525
-13,538
345
971
562
-3,681
0
-475
-2,632
-574
601
1,494
-572
-398
3,826
-623
676
-149
-110
990
-183
1,713
3 763
-145
-797
0
-97
-564
-136
4,766
0
2,976
1,951
-161
-290,691
-38,260
-49,403
-48,568
-154,460
-330,457
-9,574
-24,240
-156,064
-140,579
-859,529
-356,133
-149,001
-102,383
-252,012
-137,943
-44,787
-13,490
-38,444
-41,222
-290,155
-97,263
-74,669
-18,226
-99,997
-91,328
49,278
-74,934
-38,675
-26,997
-225,376
-170,985
8,978
-41,979
-21,390
-129,348
-107,867
-14,599
-33,954
27,072
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
115,945
60,466
30,505
137
21,221
3,616
278,275
184,931
39,943
-517
48,643
5,275
394,710
272,648
38,485
488
70,329
12,760
75,792
55,357
11,542
710
4,867
3,316
94,478
41,728
15,040
-158
32,054
5,814
25,277
14,306
24,938
-650
-15,843
2,526
82,646
22,448
21,620
297
34,190
4,091
38,394
9,651
20,471
709
826
6,737
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
678,398
96,410
95,932
100,403
21,513
283,299
80,841
610,768
96,675
99,676
104,380
16,640
226,306
67,091
1,045,395
322,627
124,358
106,958
14,827
369,793
106,832
178,436
42,164
14,752
-1,107
2,560
84,401
35,666
363,437
91,458
61,096
15,710
5,313
158,238
31,622
218,174
-67,735
93,897
75,911
1,072
79,973
35,056
293,170
149,069
1,153
9,923
4,507
114,064
14,454
358,525
88,696
24,845
40,863
4,679
160,669
38,773
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
-1,363
-23,742
-3,214
-37,753
-1,648
85,126
-393
50,672
-12,977
63,649
-455
19,856
5,718
14,138
-4,466
41,193
15,238
25,955
-315
47,482
-7,710
55,192
-311
-76,767
-16,265
-60,502
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
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
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
41 Change in Organization of Petroleum Exporting Countries official
assets in United States (part of line 22)
-3,681
1,523
2,805
429
697
5,331
-797
4,766
115,808
278,792
394,222
75,082
94,636
25,927
82,349
37,685
-8,132
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
2005
Asset
2002
2003
2004
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.'
1 Total
79,006
85,938
86,824
79,526
77,742
76,594
74,620
72,243
71,273
70,218
68,773
2 Gold stock1
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,043
12,166
11,043
12,638
11,045
13,582
11,041
11,610
11,041
11,385
11,041
11,243
11,041
11,206
11,041
8,304
11,041
8,245
11,041
8,224
11,041
8,180
21,979
33,818
22,535
39,722
19,479
42,718
15,422
41,452
15,406
39,910
15,274
39,036
13,438
38,935
13,336
39,563
13,245
38,742
12,720
38,234
12,097
37,445
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
2005
Asset
2002
2003
2004
Apr.
1 Deposits
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
May
July
Aug.
Sept.
Oct.
Nov.'
136
162
80
126
105
103
83
81
96
88
82
678.106
9,045
845.080
8,971
1.041.215
8,967
1,057,109
8,967
1,065,032
8,967
1,058,972
8,967
1,070,625
8,967
1,075,098
8,967
1.056.594
8,967
1.060.857
8,967
1.073.710
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
June
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
2005
2004
Item
2002
2003
1
1
1 Total
By type
2 Liabilities reported by banks in the United States2
June "
June
8
Dec.
July
Aug.
Sept.
Oct.'
1,161,907
1,445,526
1,665,335
1,780,503
1,909,030
1,959,813
1,964,912'
1,962,807'
1,980,393
144,646
190,444
189,824
212,032
234,553
248,862
234,553
248,862
270.385
245,197
287,083
203,174
285.540'
205,404
289.148'
195,367
289.329
199,801
569,891
2,769
254,157
719,302
2,613
321,755
844,444
1,569
335,907
910,456
1,569
385,063
986,454
1,630
405,364
1,031,381
923
437,252
1,034,604
924
438,440
1,033,470
929
443,893
1,038,366
936
451,961
283,512
5,962
87,261
760 012
9,355
15,835
306,272
5,112
72,869
1 034 751
8,857
17,652
334,000
6,578
98,106
1 201 702
10,187
14,749
340,412
7,631
104,911
1 296 622
10,812
19,926
357,316
7,806
112,605
1 388 408
10,842
31,864
369,912
8,286
111,236
1 418 150
12,743
39,297
369,059
8,436
113,618'
1 427 057
11,935
34,618
367,806'
7,605
111,873'
1 435 694
10,914
28,726
378,806
8,137
115,316
1 437 360
10,958
29,627
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
11 Africa
1. 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 2004 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
2004
Item
2001
2002
2005
2003
Dec'
Mar.'
June'
Sept.
2
3
Deposits
Other liabilities
79,363
n.a.
n.a.
80,543
n.a.
n.a.
63,119
36,674
26 ,AAi
98,349
52,410
45,939
91,509
51,305
40,204
102,989
55,982
47,007
108,305
60,840
47,465
5
Deposits
74,640
44,094
30,546
71,724
34,287
37,437
81,669
38,102
43,567
129,544
51,029
78,515
110,063
47,433
62,630
109,277
47,053
62,224
102,541
43,649
58,892
8
Deposits
17,631
n.a.
n.a.
35,923
n.a.
n.a.
21,365
5,064
16,301
32,056
8,519
23,537
41,261
21,014
20,247
45,207
21,686
23,521
45,076
21,574
23,502
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 • December 2005
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Apr.
Aug.r
May
Sept/
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners . .
2,832,441 2,821,723 2,863,596
2,944,589
2,962,695 3,003,631
3,013,177
3,002,096
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
,363,270
1,677,193
1,004,813
,982,989
2,016,226
2,149,793
2,178,807
2,236,964
2,251,220
2,224,176
175,231
246,623
190,134
622,318
852,803
824,390
460,191
638,413
933,744
1,071,069
647,140
827,628
929,099
1,053,890
608,955
838,734
948,290
1,067,936
610,755
985,250
1,164,543
649,950
975,159 1,027,517
1,203,648 1,209,447
690,063
677,002
1,044,839
1,206,381
687,152
986,461
1,237,715
701,179
847,370
794,796
236,796
258,797
318,743
308,605
783,888
766,667
761,957
777,920
308,307
277,532
270,618
271,289
251,933
258,020
333,193
308,877
309,634
297,474
301,152
311,958
37,761
74,513
195,949
34,394
83,633
176,842
48,260
152,561
194,583
52,623
147,347
199,558
52,859
147,239
205,870
47,240
144,113
208,387
51,875
132,507
203,636
50,724
126,541
197,904
51,291
132,188
208,872
55,921
125,002
207,942
12 Nonmonetary 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'"
Other
19
13,467
12,362
5,769
6,593
1,105
14,149
12,577
6,134
6,443
1,572
110
15,120
9,829
6,098
3,731
5,291
1,879
15,730
11,030
4,910
6,120
4,700
1,166
19,011
13,005
4,608
8,397
6,006
2,317
16,140
10,231
5,359
4,872
5,909
2,247
16,212
10,640
5,020
5,620
5,572
2,122
16,454
10,540
5,781
4,759
5,914
2,131
17,394
11,093
5,615
5,478
6,301
2,097
18,221
12,955
5,888
7,067
5,266
939
16
0
1,462
3,412
0
3,532
2
3,584
105
3,571
91
3,448
2
3,779
4,197
7
4,325
2
335,090
93,884
20,733
73,151
401,856
117,737
24,208
93,529
515,582
145,516
26,613
118,903
516,453
165,093
33,267
131,826
509,533
152,055
36,616
115,439
493,629
162,252
39,098
123,154
490,257
169,936
38,951
130,985
490,944
171,533
40,882
130,651
484,515
169,142
39,315
129,827
489,130
175,763
40,462
135,301
241,206
190,444
284,119
212,032
370,066
245,197
351,360
230,105
357,478
228,961
331,377
204,897
320,321
203,174
319,411
205,404
315,373
195,367
313,367
199,801
50,698
64
69,638
2,449
123,163
1,706
120,781
474
127,654
863
121,942
4,538
116,789
358
113,466
541
119,019
987
111,871
1,695
1,311,267
1,055,858
56,020
58,422
255,409
25,916
1,380,639
1,163,309
706,536
456,773
217,330
18,267
1,499,129
1,278,743
755,530
523,213
220,386
27,027
1,489,070
1,256,663
743,259
513,404
232,407
35,949
1,520,510
1,281,130
753,989
527,141
239,380
35,602
1,669,770
1,437,218
786,394
650,824
232,552
33,704
1,666,536
1,436,112
773,784
662,328
230,424
28,491
1,717,782
1,493,314
827,029
666,285
224,468
29,867
1,724,941
1,499,158
838,243
660,915
225,783
23,331
1,701,124
1,469,546
783,630
685,916
231,578
24,700
57,605
171,888
49,311
149,752
52,381
140,978
50,404
146,054
51,769
152,009
43,073
155,775
47,679
154,254
43,290
151,311
40,696
161,756
47,789
159,089
36 Other foreigners''
37
Banks' own liabilities
38
Deposits2
39
Other
325,764
201,166
92,709
108,457
518,962
383,570
115,925
267,645
802,610
570,725
145,503
425,222
800,470
550,203
147,663
402,540
814,542
570,036
153,077
416,959
765,050
540,092
154,399
385,693
789,690
562,119
157,404
404,715
778,451
561,577
153,825
407,752
786,327
571,827
161,666
410,161
793,621
565,912
156,481
409,431
40
41
42
124,598
19,347
135,392
28,388
231,885
44,640
250,267
41,385
244,506
41,427
224,958
36,684
227,571
36,831
216,874
33,887
214,500
31,138
227,709
32,580
81,254
23,997
82,363
24,641
135,346
51,899
155,854
53,028
150,186
52,893
140,291
47,983
141,718
49,022
136,939
46,048
137,240
46,122
147,973
47,156
20 Official institutions9
21
Banks' own liabilities
22
Deposits2
23
Other
24
25
26
27
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments''
Other
28 tanks10
29
Banks' own liabilities
30
Deposits2
31
Other
32
Banks' custody liabilities4
33
U.S. Treasury bills and certificates5 . .
34
Other negotiable and readily
transferable instruments'"
35
Other
43
Banks' custodial liabilities
U.S. Treasury bills and certificates5 .
Other negotiable and readily
transferable instruments'"
Other
1,985,588
189,573
202,774
MEMO
44 Own foreign offices12
941,416
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.
9. Foreign central banks, foreign central governments, and 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
Apr.
May
July
Aug.
Sept.
AREA OR COUNTRY
45 Total, all foreigners
1,985,588
2,315,606
2,832,441
2,821,723
2,863,596
2,944,589
2,962,695" 3,003,631' 3,013,177' 3,002,096
46 Foreign countries
1,972,121 2,301,457
2,817,321
2,805,993
2,844,585
2,928,449
2,946,483' 2,987,177' 2,995,783' 2,983,875
981,660
4,355
13,512
3,147
1,088
57,049
51,427
1,178
7,198
50,105
18,148
32,740
1,545
70,186
8,410
6,118
99,222
5,188
430,018
20,840
110
100,076
1,056,904
5,424
13,987
2,750
2,599
59,250
60,164
1,972
7,997
56,827
25,982
34,818
2,490
73,980
8,778
5,910
90,717
3,663
474,197
20,583
90
104,726
1,037,611
4,129
14,017
3,927
2,682
60,421
52,499
1,886
8,522
57,461
23,440
18,671
1,917
82,050
8,291
1,944
100,903
4,552
461,711
23,087
106
105,395
1,116,531
4,060
15,810
1,877
1,766
76,471
56,431
1,424
7,977
57,637
17,477
20,740
2,093
85,022
8,357
2,636
106,122
6,787
521,692
26,060
103
95,989
27,323
35,590
33,658
34,300
38,312
32,575
70 Latin America
71
Argentina
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru
80
Uruguay
81
Venezuela
82
Other Latin America17
107,357
10,878
10,040
6,146
4,158
2,299
1,379
36,109
3,864
1,363
2,815
21,939
6,367
110,566
9,758
16,283
4,438
4,235
2,567
1,547
35,389
4,093
1,401
3,670
21,222
5,963
135,888
10,813
15,186
7,299
6,263
2,676
1,526
50,545
4,506
1,968
4,150
24,573
6,383
129,145
9,221
19,726
8,318
6,059
2,654
1,361
38,870
4,382
2,484
4,079
24,754
7,237
130,634
9,813
19,077
8,394
5,968
2,749
1,403
38,374
4,848
3,280
4,436
24,996
7,296
133,068
9,662
17,807
7,277
5,575
2,499
2,044
42,142
4,714
3,336
4,931
25,397
7,684
1,129,699' 1,198,612' 1,183,264' 1,171,763
5,243
4,095
4,174
4,473
16,303
19,069
17,892
15,302
5,709
1,765
2,364
2,010
2,398
972
747
1,941
85,008'
88,210
77,351'
90,213'
59,308
61,615
62,794
64,879
1,063
1,375
1,528
1,113
7,741
6,856
8,470
5,589
56,345'
59,764
56,670'
58,600'
20,501'
18,727
18,729
17,749
21,084
24,911
22,033
31,499
2,345
3,747
2,964
2,680
85,163
88,985
83,615
86,021
12,479
10,850
11,962
9,361
4,086
3,959
3,078
4,909
100,694'
159,069'
95,611
146,993'
7,998
6,601
6,946
5,735
515,150'
528,245'
551,351
533,066'
23,597
27,198
27,576
104
25,848
100
102
98,150
94,509
87,879
90,319
37,926
38,215
37,296
40,670
125,601
131,705'
128,075
131,779
9,314
9,558
9,985
9,558
13,754
12,860
16,126
15,139
6,733
6,987
7,312
6,879
7,025
6,122
6,048
6,029
2,956
2,832
2,541
2,927
1,642
1,638
1,848
1,959
41,823
40,061'
41,718
38,055
4,755
4,541
4,390
4,773
3,135
3,183
3,679
3,469
4,853
4,987
4,991
4,879
27,608
25,395
25,913
26,428
7,937
7,681'
7,581'
7,553
83 Caribbean
84
Bahamas
85
Bermuda
86
Cayman Islands15
87
Cuba
88 Jamaica
89
Netherlands Antilles
90 Trinidad and Tobago
91
Other Caribbean"
837,666
163,543
24,674
630,446
91
829
5,004
1,405
11,674
969,986
153,554
38,964
739,204
96
669
8,689
1,253
27,557
1,204,089
186,080
92,576
877,040
110
829
5,863
1,624
39,967
1,130,470
184,528
56,358
849,346
114
789
5,555
2,052
31,728
1,172,492
200,821
62,147
868,417
113
792
5,388
1,997
32,817
1,205,229
201,834
60,540
904,466
113
790
4,744
2,017
30,725
1,212,793' 1,175,971' 1,210,857' 1,208,023
195,527
192,196
185,050
189,942
63,373
64,971
63,796'
63,691
909,644
885,193'
917,676
915,749'
116
115
115
116
707
1,230
829
981
5,835
5,637
5,130
4,838
2,381
2,415
2,541
2,901
31,982'
30,863
30,385
31,719
92 Asia
China
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea (South)
Philippines
Thailand
Middle Eastern oil-exporting countries19
Other
319,487
373,024
420,564
409,459
419,572
392,902
389,899
395,792
399,885
396,593
15,483
18,693
33,066
7,951
14,123
7,477
161,667
8,968
1,811
7,605
16,365
26,278
13,236
26,808
49,557
14,534
14,373
12,223
162,003
12,647
1,683
7,226
23,626
35,108
52,763
26,488
42,768
11,154
5,903
11,214
166,979
12,421
2,949
11,355
38,247
38,323
67,332
24,554
41,173
14,561
3,673
9,261
149,401
19,422
2,302
10,972
38,334
28,474
71,189
23,596
43,435
13,404
3,406
8,343
151,703
18,279
2,228
13,986
40,423
29,580
59 303
22,089
42,144
12,963
2,445
7,354
148,901
15,576
2,453
10,291
39,131
30,252
51,335
19,938
43,293
14,176
2,635
8,104
150,801
17,011
2,420
9,644
40,960
29,582
52,203
21,918
42,320
12,717
2,296
7,237
150,205
19,397
2,451
9,212
44,001
31,835
57 494
19,982
36,873
11,561
2,805
6,675
153,979
20,581
2,420
10,361
46,853
30,301
50,030
20,719
37,870
10,917
3,226
6,484
152,872
21,111
2,973
12,251
49,516
28,624
105 Africa
106
Egypt
107
Morocco
108
South Africa
109
Congo (formerly Zaire)
110
Oil-exporting countries20
111
Other
12,251
2,655
306
1,114
4,370
3,804
13,828
2,336
376
3,715
18
3,498
3,885
14,557
2,711
156
3,284
4
4,326
4,076
17,353
3,952
223
3,439
8
6,012
3,719
18,079
3,724
151
3,727
8
6,688
3,781
18,225
3,497
133
3,483
6
7,113
3,993
16,472
3,653
129
3,002
8
5,259
4,421
15,646
3,383
131
3,229
5
4,587
4,311
15,577
2,437
166
3,763
4
5,192
4,015
15,291
2,261
151
3,820
5
4,665
4,389
112 Other countries
113 Australia
114
New Zealand21
115 All other
14,049
11,991
1,796
262
16,913
14,020
2,465
428
26,905
22,971
3,429
505
28,362
23,843
4,077
442
27,885
23,574
3,510
801
29,919
26,960
2,485
474
32,249
27,865
3,690
694
28,781
25,092
2,898
791
22,384
18,931
2,820
633
22,500
18,818
3,051
631
116 Nonmonetary international and regional organizations
117
International22
118 Latin American regional23
119
Other regional24
13,467
11,282
507
1,611
14,149
10,500
420
3,166
15,120
11,008
1,993
2,006
15,730
11,792
1,865
2,007
19,011
15,227
1,565
2,146
16,140
12,568
1,749
1,787
16,212'
12,535'
1,965
1,650
16,454
12,537
2,257
1,601
17,394
12,929
3,004
1,391
18,221
13,657
3,181
1,302
47 Europe
48 Austria
49
Belgium13
50
Denmark
51
Finland
52 France
53
Germany
54
Greece
55
Italy
56 Luxembourg13
57
Netherlands
58
Norway
59 Portugal
60
Russia
61
Spain
62
Sweden
63
Switzerland
64 Turkey
65
United Kingdom
66
Channel Islands and Isle of Man14
67
Yugoslavia15
68
Other Europe and other former U.S.S.R."'
69 Canada
93
94
95
96
97
98
99
100
101
102
103
104
653,988
2.818
9,536
5,106
1,693
40,399
34,650
2,975
5,568
31,945
10,839
18,879
3,574
23,146
14,039
4,647
132,895
12,131
185,970
47,594
301
65,283
781,550
4,826
9,359
3,631
1,783
40,719
46,806
1,264
6,215
35,855
15,857
22,429
952
41,673
9,902
7,082
110,626
13,748
332,528
20,802
162
55,331
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. Includes the Bank for International Settlements and the European Central Bank.
17. Before January 2001, data for "Other Latin America" and "Other Caribbean" were
combined in "Other Latin America and Caribbean."
18. Beginning January 2001, data for the Cayman Islands replaced data for the British
West Indies.
19. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
20. Comprises Algeria, Gabon, Libya, and Nigeria.
21. Before January 2001, these data were included in "All other."
22. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund.
23. Principally the Inter-American Development Bank.
24. Asian, African, Middle Eastern, and European regional organizations, except the Bank
for International Settlements, which is included in "Other Europe."
48
Federal Reserve Bulletin Statistical Supplement • December 2005
3.18
BANKS' OWN CLAIMS ON FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Area or country
Apr.
May
July
Aug.
Sept.
1 Total, all foreigners
1,185,445
1,322,363
1,668,538
1,707,113
1,713,617
1,787,702
1,790,984'
1,863,379'
1,862,005'
1,810,897
2 Foreign countries
1,181,768
1,317,292
1,662,782
1,702,633
1,707,934
1,781,607
1,783,490'
1,856,616'
1,852,334'
1,803,858
487,004
3.603
6,044
1,109
8,518
47,705
22,481
477
3,753
3,407
23,133
13,885
2,226
877
5,371
15,889
126,958
2,112
176,953
17,457
0
5,046
591,018
4,819
6,910
2,814
8,160
63,719
25,811
238
7,310
5,512
21,415
17,666
2,106
1,233
2,295
15,269
78,716
2,149
268,822
43,099
0
12,955
804,909
4,591
7,888
912
11,840
90,010
25,841
94
16,906
5,866
22,102
25,517
1,576
1,089
8,452
17,027
114,167
2,542
404,000
26,878
0
17,611
812,602
5,180
17,239
646
9,989
93,339
36,102
102
22,635
3,741
16,380
22,016
1,359
1,154
15,998
14,418
113,235
2,665
388,146
28,414
0
19,844
810,351
4,425
14,898
734
9,303
99,244
28,114
121
19,940
3,961
15,958
15,664
1,533
1,093
15,662
11,967
110,290
2,713
406,230
28,506
0
19,995
858,217
4,575
13,404
914
10,721
95,454
30,060
121
19,676
3,716
18,702
30,737
1,482
1,001
12,134
13,278
116,868
2,955
438,755
26,723
0
16,941
833,182'
5,113
10,830
1,098
9,564
88,226'
28,505
110
16,761
4,702
18,813
30,563
1,416
1,235
11,231
12,204
93,502
3,017
452,854
25,725
0
17,713
920,140'
4,508
16,270
1,317
9,574
89,665'
25,758
154
18,783
5,473
17,903
25,700
1,391
1,017
13,136
12,896
164,254'
3,084
461,893
27,669
0
19,695
929,930'
4,551
16,304
2,489
9,013
89,053'
32,772
108
17,256
7,021'
20,300
20,727
1,312
1,013
9,811
10,979
170,295'
3,228
462,931'
28,273
0
22,494
867,927
5,344
16,361
797
8,608
85,799
31,740
185
18,120
8,301
18,221
23,856
1,216
824
9,245
10,538
103,554
3,093
471,412
29,524
0
21,189
60,521
52,140
51,089
47,749
50,876
50,935
54,434
57,971
56,449'
57,850
51,237
2,089
15,515
6,924
2,670
596
860
13,792
1,931
1,488
412
2,514
2,446
51,201
2,359
15,741
6,716
2,676
544
841
13,624
2,039
1,428
411
2,468
2,354
48,301'
2,342
13,659'
6,226
2,653
526
731
13,622
1,905
1,331
459
2,502
2,345
49,934
2,338
14,582
6,612
2,685
565
752
14,084
1,749
1,278
511
2,304
2,474
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Italy
12 Luxembourg2
13
Netherlands
14
Norway
15 Portugal
16
Russia
17
Spain
18
Sweden
19
Switzerland
20
Turkey
21
United Kingdom
22
Channel Islands and Isle of Man3
23
Yugoslavia4
24
Other Europe and other former U.S.S.R.5
25 Canada
26 Latin America
27
Argentina
28
Brazil
29
Chile
30
Colombia
31
Ecuador
32
Guatemala
33
Mexico
34 Panama
35 Peru
36
Uruguay
37
Venezuela
38
Other Latin America1"
56,642
6,783
15,419
5,250
2,614
457
892
15,658
1,915
1,411
255
3,254
2,734
51,517
3,819
15,825
6,094
2,026
404
781
13,583
1,844
1,370
465
2,911
2,395
49,378
2,220
14,094
6,213
2,645
469
866
13,440
1,939
1,529
403
2,844
2,716
52,804
1,994
17,338
7,017
2,425
527
812
14,196
1,940
1,510
336
2,521
2,188
51,552
2,024
16,051
7,142
2,473
534
811
13,848
1,924
1,465
347
2,585
2,348
50,813
2,011
14,991
6,527
2,533
564
869
14,334
2,099
1,525
433
2,484
2,443
39 Caribbean
40
Bahamas
41
Bermuda
42
Cayman Islands7
43
Cuba
44
Jamaica
45
Netherlands Antilles
46
Trinidad and Tobago
47
Other Caribbean8
475,896
95,584
9,902
359,259
0
321
6,690
889
3,251
492,705
73,709
14,889
391,524
0
377
6,629
665
4,912
603,081
80,202
33,301
475,290
0
351
5,554
755
7,628
628,174
85,450
30,226
497,201
0
398
5,891
695
8,313
630,874
90,815
31,364
496,224
0
426
4,769
655
6,621
657,213
108,305
26,641
506,849
0
433
4,878
734
9,373
671,721'
96,405
27,097
532,158'
0
438
4,751
715
10,157
652,137'
94,688
28,937
513,601'
0
408
4,936
705
8,862
640,305'
97,555
21,672
505,722'
0
418
5,006
826
9,106
645,677
84,075
24,396
521,895
0
432
4,846
900
9,133
93,551
119,562
142,662
150,287
153,543
153,314
163,089'
165,980'
167,173
171,394
1,057
3,766
7,258
1,235
1,270
4,660
47,600
11,118
2,137
1,167
7,952
4,331
4,134
9,659
7,190
1,588
838
5,122
62,059
11,395
1,693
989
6,782
8,113
9,267
10,590
5,623
2,117
555
1,326
82,207
15,531
993
1,144
7,022
6,287
11,103
11,847
6,787
2,201
536
3,218
85,081
15,841
899
2,416
5,230
5,128
13,210
11,409
7,303
2,420
560
2,750
85,463
13,603
806
2,982
6,540
6,497
10,521
10,497
7,755
2,324
548
1,748
84,966
15,620
907
5,621
6,662
6,145
20,058
8,925
6,116
2,751
559
3,152
83,645
16,780
1,119
6,544
7,869
5,571'
16,913
8,605
5,659
2,660
555
4,204
86,600
18,784
1,018
6,720
7,541
6,721'
17,420
7,934
6,974
2,738
572
3,186
83,472
16,669
1,085
8,318
11,432
7,373
19,410
8,134
8,352
2,698
578
3,183
86,040
17,189
1,211
8,995
8,968
6,636
61 Africa
62 Egypt
63
Morocco
64
South Africa
65
Congo (formerly Zaire)
66
Oil-exporting countries9
67
Other
1,977
487
53
617
0
222
598
1,453
236
46
453
0
147
571
1,262
228
53
318
0
223
430
1,339
307
42
264
0
271
455
1,269
344
39
172
0
274
440
1,533
395
39
219
0
273
607
1,342
384
38
179
0
334
407
1,629
443
31
387
0
361
407
1,399
453
33
217'
0
337'
359
1,564
413
20
437
0
332
362
68 Other countries
69
Australia
70
New Zealand10
71
Allother
6,177
5,566
569
42
8,897
8,037
819
41
10,401
9,709
610
82
9,678
8,930
662
86
9,469
7,466
1,910
93
9,582
8,906
572
104
8,485
7,833
568
84
7,558
6,830
634
94
8,777
7,836
848
93
9,512
8,872
531
109
72 Nonmonetary international and regional organizations"
3,677
5,071
5,756
4,480
5,683
6,095
7,494'
6,763'
9,671
7,039
48 Asia
China
49
Mainland
50
Taiwan
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Thailand
59
Middle Eastern oil-exporting countries5
60
Other
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. 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."
5. Includes the Bank for International Settlements and the European Central Bank.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and 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. Excludes the Bank for International Settlements, which is included in "Other Europe."
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
2005
Type of claim
1 Total claims reported by banks
3
Foreign official institutions2
5
Other foreigners4
6 Claims on banks' domestic customers5
7
Non-negotiable deposits
8
Negotiable CDs
9
Other short-term negotiable instruments6 . .
10
Other claims
2002
2003
2004
Apr.
May
1 707 113
84,464
1,207,279
415,370
1 713 617
73,975
1,218,100
421,542
June
July'
Aug.'
1 790 984
95,749
1,309,475
385,760
1,863,379
89,553
1,365,670
408,156
2,179,087'
Sept.'
Oct.'
2,288,199
1,409,095
1,603,404
2,031,156'
1 185 445
52,198
970,357
162,890
1 322 363
57,897
980,099
284,367
1 668 538
77,648
1,192,156
398,734
223,650
80,269
281,041
135,939
72,196
63,107
9,799
362,618'
152,520
107,533'
88,423'
14,142
500,085
376
632,635
3,970
654,870
4,711
643,279
4,313
737,834
4,668
739,690
4,044
732,688
3,260
722,150
3,971
714,881
4,723
n .a.
892,340
5,328
816,574
934,166
4,750
1,027,183
1 106 491
6,845
1,040,687
1 114 452
8,390
1,057,635
1 125 149
7,562
1,037,638
1 201 757
10,007
1,037,243
1 199 940
11,699
1,115,732
1 249 724
9,012
1,126,872
1 283 649
11,528
1,079,765
1 198 444
161,585
344,753
478,239
510,628
518,212
526,927
527,403
545,571
527,073
550,302
137,289
6,092
1 787 702
87,917
1,296,359
403,426
391,385'
157,192'
102,750'
115,684'
15,759'
1,862,005
88,026
1,375,151
398,828
1,810,897
93,304
1,299,389
418,204
426,194
170,254
109,231
128,870
17,839
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 • December 2005
3.22
LIABILITIES TO FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
2002
Sept.
1 Total
66,679
67,664
83,240
88,474
104,940
103,204
108,339
109,178
105,703
By type
2 Financial liabilities
3
Short-term negotiable securities' . .
41,034
n.a.
39,561
53,150
14,002
58,042
9,859
72,799
10,868
73,818
11,415
79,177
11,759
76,065
10,053
71,839
14,064
39,148
48,183
62,403
67,418
8,498
22,946
8,402
32,449
5,949
45,495
3,558
45,766
6,315
49,882
8,163'
45,852
10,570
34,151
42,171
30,628
1,730
7,998
17,883
1,660
1,357
43,617
30,201
1,981
7,678
17,420
1,642
1,480
45,905
33,272
2,399
9,067
18,337
1,564
1,905
42,618
33,447
2,296
11,159
16,548
1,379
2,065
46,891
24,948
1,774
16,183
4,195
1,604
1,192
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
14 Financial liabilities to unaffiliated
foreigners
Byy area or country
15 Europe
16
Belgium-Luxembourg
17
France
18
Germany
19
Netherlands
20
Switzerland
21
United Kingdom
n.a.
n.a.
18,763
22,271
n.a.
n.a.
n.a.
n.a.
n.a.
18,844
20,717
25,055
28,095
1,431
10,372
11,425
2,493
2,374
33,896
24,146
1,149
7,147
12,894
1,330
1,626
41,034
39,561
43,610
45,095
58,084
57,142
62,847
52,835
45,841
31,806
154
2,841
2,344
1,954
94
22,852
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
30,976
528
2,133
3,015
284
524
22,004
45,810
539
2,092
3,699
320
298
28,992
43,134
677
2,290
3,335
340
431
28,166
38,690
775
1,349
2,911
363
514
29,473'
36,330
590
1,550
5,276
413
282
26,043'
31,816
641
1,093
7,591
129
114
17,615
MEMO:
22
Euro area3 . . .
8,798
9,855
955
591
1,239
1,288
1,527
1,956
2,433
2,283
2,080
1,504
23
990
65
365
n.a.
31
4,235
0
711
242
n.a.
3,114
34
3
8,115
0
3,604
291
n.a.
3,910
28
0
6,093
0
2,300
200
n.a.
3,483
25
0
7,297
0
2,382
185
n.a.
4,591
24
22
16,196
0
8,715
208
n.a.
7,178
26
18
9,076
0
801
263
n.a.
7,871
8,101
0
115
306
n.a.
7,583
20
5
24
25
26
27
28
29
30
31
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,858
157
960
35
1,627
32
33
34
Asia
Japan
Middle Eastern oil-exporting countriesf
5,042
3,269
10
2,932
1,832
14
2,547
1,826
36
4,519
1,431
29
4,487
1,612
24
4,589
1,664
30
4,724
1,648
36
4,347
1,365
33
3,697
1,642
2
35
36
Africa
Oil-exporting countries6
53
5
131
91
123
92
126
93
118
93
119
93
131
94
132
95
108
96
37
All other7
36
2
Nonbank-Reported Data
3.22
LIABILITIES TO 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.
38 Commercial liabilities
39
Trade payables
40
Advance payments and other liabilities .
41
42
43
44
45
46
47
48
49
50
51
52
53
54
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 . . .
25.645
11,781
13,864
28,103
14,699
13,404
30,090
17,174
12,916
30,432
17,484
12,948
32,141
18,386
13,755
29,386
18,362
11,024
29,162
18,181
10,981
33,113
21,678
11,435
33,864
22,851
11,013
24,162
1,483
n.a.
n.a.
n.a.
n.a.
n.a.
26,243
1,860
27,632
2,458
199
787
606
209
657
5,178
2,254
196
699
513
223
623
29,662
2,479
183
729
593
255
719
26,090
3,296
241
1,030
600
302
1,123
25,811
3,351
224
1,058
704
296
1,069
29,890
3,223
200
1,026
634
314
1,049
30,990
2,874
143
1,028
585
119
999
9,219
99
734
905
1,163
790
2,279
8,257
141
765
781
590
433
2,649
9,821
159
900
855
384
1,367
3,025
8,943
145
1,017
1,018
303
543
3,023
9,719
135
1,092
1,275
289
638
3,035
8,843
133
1,050
1,021
315
616
3,127
9,030
123
1,019
1,024
305
564
3,407
10,087
100
1,600
1,020
322
740
3,576
10,080
103
1,669
949
401
947
3,232
2,143
2,070
5,361
79
774
127
n.a.
76
2,210
522
MEMO
Euro area3
5,141
56
Canada
1,622
1,588
2,166
2,337
2,533
1,995
57
58
59
60
61
62
63
64
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,727
52
591
290
45
n.a.
899
166
3,073
51
538
253
36
n.a.
1,170
177
3,406
14
513
233
n.a.
40
1,298
329
3,916
16
647
226
n.a.
77
1,362
389
4,388
39
801
167
n.a.
32
1,755
481
4,317
35
635
98
n.a.
29
1,925
477
4,276
515
113
n.a.
101
1,942
433
4,894
66
511
97
n.a.
29
2,154
640
65
66
67
Asia
Japan
Middle Eastern oil-exporting countries-
10,517
2,581
2,639
13,382
4,292
3,979
13,311
4,370
3,148
13,540
4,973
2,553
13,484
4,755
2,311
12,707
4,288
3,312
12,239
4,221
2,910
14,470
5,324
3,900
14,865
5,202
4,248
68
Africa
836
436
827
405
782
372
1,009
548
1,082
567
956
488
947
424
935
447
1,010
627
69
70
Oil-exporting countries'"
All other7
MEMO
71
Financial liabilities to foreign affiliates5 . . .
1. Data available beginning March 2003.
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. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial liabilities to foreign affiliates
of insurance underwriting subsidiaries of bank/financial holding companies and other financial intermediaries. These data are included in lines 1-6 above.
52
Federal Reserve Bulletin Statistical Supplement • December 2005
3.23
CLAIMS ON FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
102,566
165,901
176,473
188,506
192,336
197,696
202,046
182,238
71,389
27,064
44,325
132,332
35,920
3,211
142,632
45,415
2,502
154,096
42,974
5,468
160,552
50,314
7,595
164,981
47,883
9,892
168,943
52,316
11,912
148,995
48,975
8,894
n.a.
51,486
157
93,201
6
94,715
129
105,654
70
102,643
103
107,206
94
104,715
173
91,126
n.a.
n.a.
69,208
3,253
67,343
5,602
66,849
19,073
64,968
17,685
59,683
24,034
64,386
12,737
57,548
8,069
122,879
9,453
912
2,776
3,242
831
1,692
132,701
9,931
1,254
2,425
3,722
892
1,638
117,735
36,361
1,400
8,534
13,992
7,952
4,483
124,592
35,960
1,278
13,129
9,618
7,829
4,106
121,909
43,072
1,329
20,651
9,219
7,345
4,528
125,119
43,824
7,216
17,593
7,687
6,111
5,217
111,366
37,629
10,031
10,935
7,714
4,007
4,942
67,347
80,256
92,499
101,867
110,517
115,412
101,634
28,970
391
3,049
2,859
2,789
617
11,438
32,331
1,256
3,113
4,573
2,293
618
13,193
46,343
1,206
4,375
3,151
2,974
453
23,575
47,040
292
3,620
2,299
3,149
585
26,641
48,714
2,177
1,452
5,386
7,389
978
23,982
54,240
2,651
3,177
7,126
7,692
845
25,828
41,763
1,998
4,593
4,534
1,738
1,237
18,016
1 Total
2
3
4
5
6
7
8
9
10
11
12
13
14
15
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
16 Financial claims on unaffiliated
foreigners
By area or country
17
Europe
18
Belgium-Luxembourg
19
France
20
Germany
21
Netherlands
22
Switzerland
23
United Kingdom
81,287
29,801
51,486
74,471
6,816
n.a.
n.a.
n.a.
n.a.
n.a.
65,070
6,319
26,118
625
1,450
1,068
2,138
589
16,510
29,018
722
3,247
4,245
3,648
383
10,663
MEMO:
24
25
17,281
Euro area3
Canada
26
27
28
29
30
31
32
33
34
35
36
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5 .
37
38
Africa
Oil-exporting countries'"
39
All other7
6,193
5,013
5,311
5,278
4,533
5,825
6,412
11,361
11,905
41,201
976
918
2,127
32,965
n.a.
3,075
83
29,612
1,038
724
2,286
21,528
n.a.
2,921
104
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
35,284
646
1,034
1,967
n.a.
28,577
1,723
174
34,256
801
1,410
1,749
n.a.
27,613
1,706
135
42,091
1,346
1,063
1,833
n.a.
35,188
1,527
139
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
39,893
1,899
2,128
1,839
n.a.
31,162
1,727
164
38,945
3,436
1,316
1,486
n.a.
30,448
1,392
62
6,430
1,604
135
5,358
1,277
79
5,317
1,194
158
5,650
978
138
5,976
1,011
121
5,633
1,050
138
6,840
993
137
7,990
1,268
133
7,401
1,832
114
414
49
395
25
419
12
391
13
238
8
306
8
290
16
282
23
1,322
1,153
1,638
1,338
1,993
International Statistics
3.23
53
CLAIMS ON FOREIGNERS Reported by Nonbanking Business Enterprises in
the United States—Continued
Millions of dollars, end of period
Type of claim, and area or country
Sept.
40 Commercial claims
41
Trade receivables
42
Advance payments and other claims
43
44
45
46
47
48
49
50
51
52
53
54
55
56
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 claims
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
31.795
27,513
4,282
31,177
26,385
4,792
33,569
28,618
4,951
33,841
28,623
5,218
34,410
29,884
4,526
31,784
27,346
4,438
32,715
29,229
3,486
33,103
28,567
4,536
33,243
29,140
4,103
29,393
2,402
26,481
4,696
n.a.
25,494
8,075
1,557
1,542
1,187
589
3,200
26,165
7,676
1,518
1,255
1,299
478
3,126
27,380
7,030
649
1,196
1,204
598
3,383
27,908
3,876
446
1,026
1,169
191
1,044
27,439
5,276
512
1,561
1,586
238
1,379
28,299
4,804
499
1,577
239
1,378
28,879
4,364
407
1,483
1,094
153
1,227
14,552
247
2,816
1,273
395
1,921
3,928
14,332
209
2,740
1,494
421
1,248
3,964
13,531
235
2,603
1,509
345
1,257
3,904
13,000
298
2,582
1,331
396
1,218
3,815
13,457
257
2,261
1,401
494
1,528
3,742
13,914
367
2,895
1,478
490
1,477
3,494
13,423
401
2,258
1,485
460
1,405
3,253
14,022
268
2,921
1,658
529
611
3,833
14,187
269
3,164
1,202
1,490
503
3,727
MEMO
57
58
Canada
59
60
61
62
63
64
65
66
67
68
69
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
70
Africa
71
72
8,580
Euro area3
Oil-exporting countries6
7,185
2,818
2,790
3,070
3,272
2,288
2,260
2,017
2,143
2,131
4,859
42
369
954
95
n.a.
1,391
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
n.a.
52
1,339
5,516
35
739
1,002
n.a.
67
1,149
228
5,628
25
690
1,025
n.a.
66
1,244
252
6,141
58
766
905
n.a.
124
1,767
263
6,477
55
650
935
n.a.
160
2,018
319
6,505
41
591
1,048
n.a.
75
1,859
360
6,306
29
581
952
n.a.
143
1,838
389
7,849
2,006
850
7,324
2,341
818
7,352
1,757
888
7,250
1,589
980
8,165
1,784
1,085
8,601
1,847
961
8,943
1,855
1,071
8,564
1,918
1,205
9,393
1,923
1,380
645
88
584
95
636
138
621
183
711
224
783
209
629
154
830
221
969
244
2,806
2,850
All other7
1,192
MEMO
73
Financial claims on foreign affiliates5
1. Data available beginning March 2003.
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. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial claims on foreign affiliates of
insurance underwriting subsidiaries of bank/financial holding companies and other financial
intermediaries. These data are included in lines 1-8 above.
54
Federal Reserve Bulletin Statistical Supplement • December 2005
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.Oct.
Apr.
May
July
Aug.
Sept.
363,887
360,054
411,497'
386,935
U.S. corporate securities
STOCKS
1 Foreign purchases
3.104.232
3,069,495
2 Foreign sales
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
3,704,777
3,630,005
396,240
391,849
366,128
365,621
365,045
360,669
331,399
321,383
421,687
411,083
10,604
3,833
28,476
3 Net purchases, or sales (-)
4 Foreign countries
3,862,043
3,833,567
34,770
28,616
74,825
4,361
528
4,394
9,957
3,858
24,553'
10,592
21,399
6,208
-3,782
46
-2,120
684
91
11,659
-929
612
2,207
-2,224
258
-436
19,571
-876
-2,360
1,697
-1,194
15,208
-180
1,292
631
6,485
-320
2,832
-41
31,657
4,499
-3,556
-1,133
170
16,609
308
21,756
13,411
1,256
6,914
-389
140
-309
2,628
-391
26
182
-244
1,611
44
559
1,324
9
-86
-350
-7
-66
2,639
774
-546
-526
190
1,579
-112
408
-4,447
-71
2,057
655
-1
-57
956
2,836
-766
143
-584
-466
4
20
1,013
736
2,037
-132
-44
-324
-658
377
-505
-782
1,622
-3,027
116
5,289
6,066
-317
-714
-634
34
257
-2,946
1,086
-1,955
-613
-371
-4,009
33
6,650
-317
2,236
-267
-159
29
159
714
82
3,868
226
-597
2
241
15,356'
651
54
950
33
11,819'
42
5,355
2,356
5
1,605
127
28
-152
2,420,212
1,998,669
2,380,796
1,844,908
1,984,888
1,465,264
178,764
154,155
179,166
137,579
227,483
152,790
187,905
125,412
205,307
149,415
214,263'
142,482
216,356
147,090
115
989
594
-23
77
BONDS 3
20 Foreign purchases
21 Foreign sales
535,888
23 Foreign countries
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
69,266
55,892
41,587
74,693
421,187
533,409
517,388
24,437
41,478
74,345
62,607
55,567
70,966'
69,205
211,710
4,790
2,293
2,289
7,263
133,799
19,772
4,071
94,041
3,281
106,370
32,290
1,663
51
256,263
7,369
12,124
1,929
6,972
160,243
6,477
12,095
105,994
4,702
151,845
77,905
512
1,998
257,882
12,225
11,046
3,559
2,383
170,193
12,643
12,758
82,839
3,115
155,374
67,116
430
4,990
9,644
2,638
135
144
-46
5,646
545
575
11,569
-15
2,579
3,248
10
75
15,821
-185
3,504
440
886
3,621
2,028
-29
9,586
390
14,999
7,411
55
656
41,526
2,038
1,356
552
986
29,010
2,897
2,457
4,164
1,124
24,068
8,690
-9
1,015
23,130
852
184
439
-314
15,218
152
1,307
12,505
328
24,141
9,543
53
1,143
32,606
905
898
217
-641
26,898
1,531
704
6,620
176
14,802
5,282
60
599
42,228'
3,835
1,568
839
1,150
28,637'
1,863
1,593
8,208
987
17,427
10,196
221
302
31,576
234
2,153
188
660
17,403
2,036
2,579
9,327
-613
25,735
15,217
43
558
2,479
2,236
22 Net purchases, or sales (-)
Foreign securities
-88,587
1,304,564
1,393,151
32,046
1,457,282
1,425,236
-84,970
1,664,076
1,749,046
-67,872
1,459,043
1,526,915
-91,834
1,730,537
1,822,371
-15,412
1,297,064
1,312,476
-2,522
169,752
172,274
-4,613
116,793
121,406
-4,770
159,089
163,859
-9,999
128,622
138,621
-11,839
160,588
172,427
-1,236
147,335
148,571
-8,651'
161,587'
170,238'
-5,093
111,751
116,844
-16,030'
181,841'
197,871'
17,099
129,836
112,737
-7,033'
190,698'
197,731'
-9,409'
128,495
137,904'
-5,870
227,062
232,932
2,365
152,866
150,501
45 Net purchases, or sales (-), of stocks and bonds . .
-56,541
-152,842
-107,246
-7,135
-14,769
-13,075
-13,744'
1,069'
-16,442'
-3,505
46 Foreign countries
-56,047
-141,025
-100,136
-6,662
-11,729
-12,987
-13,741'
1,119'
-16,357'
-3,612
47
48
49
50
51
52
53
-138
6,263
-1,762
-59,150
-39,527
227
-1,487
-124,892
-5,492
9,184
-12,814
-20,640
1,591
-8,602
-47,951
906
-18,590
-24,611
-22,016
-1,119
-8,771
-4,984
78
-1,357
850
1,550
-39
-1,210
-9,452
-199
732
231
185
-153
-2,888
-15,651
1,497
705
1,389
1,318
-209
-718
-5,382'
1,330
-3,925
-5,071
-4,298
-325
-368
11,128'
277
-1,698
-8,510
-5,255
-138
60
-2,694'
-2,652'
-4,216'
-5,320
-5,794
23
-1,498
4,294
-776
-5,340
-1,539
-3,950
-54
-197
-11,817
-7,110
39 Stocks, net purchases, or sales (-) .
40
Foreign purchases
41
Foreign sales
42 Bonds, net purchases, or sales (-) .
43
Foreign purchases
44
Foreign sales
Europe
Canada
Latin America and Caribbean
Asia
Japan
Africa
Other countries
54 Nonmonetary international and
regional organizations
1. Before January 2001, data included in United Kingdom.
2. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
-3,040
3. Includes state and local government securities and securities of U.S. government
agencies and corporations. Also includes issues of new debt securities sold abroad by U.S.
corporations organized to finance direct investments abroad.
Securities Holdings and Transactions
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
55
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.Oct.
Apr.
May
July
Aug.
Sept.
1 Total estimated
263,580
352,065
277,931
24,702
27,586
15,795
28,519
28,183
21,789
30,427
2 Foreign countries
263,523
351,346
275,322
23,945
27,634
14,551
28,571
28,015
21,893
29,995
48,653
1,809
11,005
881
434
434
4,883
32,846
1,256
-4,895
10,438
88,431
118
8,804
-575
-3,153
3,236
5,342
78,661
1,175
-5,177
16,098
123,980
-385
11,938
1,437
-3,453
2,295
-2,757
88,845
517
25,543
19,032
20,751
164
4,263
1,293
-1,039
-96
-749
3 384
-159
13,690
4,012
20,236
97
515
-298
-1,302
994
-1,830
7,581
-62
14,541
-1,410
15,213
-51
-540
-724
-321
1,358
-1,019
16,165
-2,473
2,818
2,905
15,768
84
1,122
-256
872
-443
-2,164
14,771
181
1,601
2,347
14,848
186
-30
591
-485
310
744
13,267
383
-118
1,731
7,121
77
108
587
-476
246
-226
9,089
61
-2,345
24
12,384
-53
1,156
-179
346
-177
-39
5,199
212
5,919
3,217
17,116
293
8,860
7,963
181,097
146,521
-56
6,275
33,544
-15
21,963
11,596
214,774
166,377
677
-2,178
77,951
289
77,917
-255
53,769
-6,770
1,679
-1,089
-3,910
-35
-4,246
371
3,877
7,017
-190
-595
5,389
-20
6,487
-1,078
3,503
-1,740
-149
65
-11,285
32
-11,290
-27
9,270
-5,644
-635
-917
67
76
1,619
-1,628
9,515
237
162
712
5,881
101
5,173
607
4,997
1,682
523
35
4,387
35
4,063
289
10,563
3,081
143
-345
12,046
93
12,054
-101
1,155
-6,372
804
389
57
337
-53
719
2
-26
2,609
2,210
-6
757
283
9
-48
38
1,244
1,276
0
-52
-13
-35
168
72
0
-104
-129
40
432
433
10
263,523
103,838
159,685
351,346
201,140
150,206
275,322
51,912
223,410
23,945
13,908
10,037
27,634
6,815
20,819
14,551
16,666
-2,115
28,571
3,616
24,955
28,015
3,223
24,792
21,893
-1,134
23,027
29,995
4,896
25,099
-6,645
52
9,041
249
-440
1,566
-1,400
-190
-1,105
-149
-18
-712
496
99
282
589
-268
180
1,172
994
3
4
5
6
7
8
9
10
11
12
13
Europe
Belgium2
Germany
Luxembourg2
Netherlands
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man3
Other Europe and former U.S.S.R
Canada
14
15
16
17
18
19
20
21
Latin America and Caribbean
Venezuela
Other Latin America and Caribbean
Netherlands Antilles
Asia
Japan
Africa
Other
22 Nonmonetary international and regional organizations
23
International
24 Latin American Caribbean regional
MEMO
25 Foreign countries
26
Official institutions
27
Other foreign
Oil-exporting countries
28 Middle East4
29 Africas
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. Before January 2001, combined data reported for Belgium and Luxembourg.
3. Before January 2001, these data were included in the data reported for the United
Kingdom.
4. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
5. Comprises Algeria, Gabon, Libya, and Nigeria.
56
Federal Reserve Bulletin Statistical Supplement • December 2005
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
2005
Item
2002
2003
2004
May
June
July
Aug.
Sept.
Oct.
75.24
2.3702
1.2229
8.2264
6.1943
1.2041
7.7751
43.43
111.95
3.7872
10.672
67.89
6.5783
1.6815
6.6966
1,036.56
100.283
7.8263
1.2945
31.886
41.700
175.07
2,144.60
76.14
2.3609
1.2043
8.1017
6.0665
1.2295
7.7709
43.55
110.61
3.7589
10.686
69.56
6.4367
1.6623
6.4599
1,021.68
100.738
7.5951
1.2629
32.076
41.132
179.44
2,144.60
76.51
2.2949
1.1777
8.0919
6.0973
1.2234
7.7618
43.85
111.24
3.7689
10.786
69.87
6.3830
1.6820
6.3661
1,029.84
101.332
7.6300
1.2671
32.925
41.041
180.64
2,144.60
75.35
2.2536
1.1774
8.0895
6.2064
1.2022
7.7559
44.76
114.87
3.7735
10.835
69.83
6.5103
1.6915
6.5878
1,045.88
101.485
7.8433
1.2880
33.468
40.895
176.51
2,144.60
Exchange rates
COUNTRY/CURRENCY UNIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Australia/dollar2
Brazil/real
Canada/dollar
China, P.R./yuan
Denmark/krone
European Monetary Union/euro3
Hong Kong/dollar
India/rupee
Japan/yen
Malaysia/ringgit
Mexico/peso
New Zealand/dollar2
Norway/krone
Singapore/dollar
South Africa/rand
South Korea/won
Sri Lanka/rupee
Sweden/krona
Switzerland/franc
Taiwan/dollar
Thailand/baht
United Kingdom/pound2
Venezuela/bolivar
54.37
2.9213
1.5704
8.2771
7.8862
0.9454
7.7996
48.63
125.22
3.8000
9.663
46.45
7.9839
1.7908
10.5176
1,250.31
95.773
9.7233
1.5567
34.536
43.019
150.25
1,161.19
65.24
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
58.22
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
163.47
1,613.43
73.65
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
66.43
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
183.30
1,886.13
76.63
2.4554
1.2555
8.2765
5.8628
1.2697
7.7914
43.41
106.60
3.8000
10.976
71.91
6.3656
1.6507
6.3267
1,001.84
99.791
7.2382
1.2172
31.265
39.801
185.59
2,144.60
76.67
2.4148
1.2402
8.2765
6.1247
1.2155
7.7755
43.52
108.75
3.8000
10.820
70.83
6.4936
1.6723
6.7396
1,012.46
99.946
7.6229
1.2665
31.347
40.917
181.77
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
126.66
105.98
119.08
93.00
113.55
85.36
110.44
83.34
111.62
84.95
112.18
85.79
110.76
84.26
110.70
83.89
111.83
85.21
140.32
143.49
143.31
138.70
138.75
138.65
137.76
138.34
138.82
111.20
110.57
104.46
97.56
99.82
90.60
97.84'
89.64'
99.00'
91.40'
99.69'
92.69'
98.72'
91.29'
99.41'
91.55'
100.32
93.18
121.57
123.22
121.89
118.10
118.39
118.21'
117.82'
119.23'
119.09
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. cents 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. The bilateral currency rates can be derived from the
euro rate by using the fixed conversion rates (in currencies per euro) as shown below:
Euro equals
13.7603
40.3399
5.94573
6.55957
1.95583
.787564
Austrian schillings
Belgian francs
Finnish markkas
French francs
German marks
Irish pounds
1,936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
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
September 30,2004
December 31,2004
March 31,2005
June 30, 2005
September 30, 2005
February
March
June
September
December
2005
2005
2005
2005
2005
58
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks, 4.23
November 2004
February 2005
May 2005
August 2005
February
May
August
November
2005
2005
2005
2005
60
58
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
September 30,2004
December 31,2004
March 31,2005
June 30, 2005
February
May
August
November
2005
2005
2005
2005
66
64
64
64
Supplement
Supplement
Supplement
Supplement
August2001
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
2002
2003
2004
2005
A70
A70
70
60
Bulletin
Bulletin
Supplement
Supplement
September
September
September
September
2002
2003
2004
2005
A73
A73
73
63
Bulletin
Bulletin
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,
1996-2001
1996-2002
1997-2003
1998-2004
4.34-4.411
4.42-4.45
4.46-4.48
Community development lending reported under the Community Reinvestment Act, 4.49
2001
2002
2003
2004
*The pro forma financial statements for Federal Reserve priced services are no longer published in the Bulletin after the January 2002 issue.
The statements are in the Board's yearly Annual Report to the Congress (www.federalreserve.gov/boarddocs/rptcongress).
58
Federal Reserve Bulletin Statistical Supplement • December 2005
4.20
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities
Consolidated Report of Condition, September 30, 2005
Millions of dollars except as noted
Domestic
total
1 Total assets
2 Cash and balances due from depository institutions
3
Cash items in process of collection, unposted debits, and currency and coin
4
Cash items in process of collection and unposted debits
5
Currency and coin
6
Balances due from depository institutions in the United States
7
Balances due from banks in foreign countries and foreign central banks
8
Balances due from Federal Reserve Banks
9 Total securities, held-to-maturity (amortized cost) and available-for-sale (fair value)
10
U.S. Treasury securities
11
U.S. government agency and corporation obligations (excludes mortgage-backed
securities)
12
Issued by U.S. government agencies
13
Issued by U.S. government-sponsored agencies
14
Securities issued by states and political subdivisions in the United States
15
Mortgage-backed securities (MBS)
16
Pass-through securities
17
Guaranteed by GNMA
18
Issued by FNMA and FHLMC
19
Other pass-through securities
20
Other mortgage-backed securities (includes CMOs, REMICs, and stripped MBS)
21
Issued or guaranteed by FNMA, FHLMC or GNMA
22
Collateralized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA
23
All other mortgage-backed securities
24 Asset-backed securities
25
Credit card receivables
26
Home equity lines
27
Automobile loans
28
Other consumer loans
29
Commercial and industrial loans
30
Other
31
Other debt securities
32
Other domestic debt securities
33
Foreign debt securities
34
Investments in mutual funds and other equity securities with readily determinable
fair value
Banks with foreign offices'
Banks with
domestic
offices only2
8,754,777
7,741,755
6,101,013
5,087,990
2,653,765
380,241
263,237
n. a.
n. a.
n. a.
n. a.
n. a.
n. a.
287,268
133,942
n.a.
n.a.
170,263
129,990
104,688
25,303
24,717
5,369
10,187
92,973
31,297
111,752
10,277
1,539,310
55,398
n. a.
n. a.
1,009,016
40,807
250,505
10,592
239,913
118,851
886,976
593,613
30,588
544,967
18,058
293,364
150,107
10,541
132,716
72,550
14,143
22,376
9,596
6,931
6,220
13,284
141,286
50,416
90,870
n. a.
n. a.
n. a.
89,456
530,294
14,591
7,123
82,333
45,514
651,406
468,089
16,971
435,571
15,547
183,317
81,101
6,003
96,213
57,016
11,998
14,945
8,293
6,561
5,539
9,680
115,781
33 374
82,408
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
125,524
13,616
109,396
2,511
110,046
69,006
4,538
36,502
15,534
2,145
7,431
1,303
370
681
3,604
25,505
17,043
8,462
4,708
9,035
13,742
161,049
3,469
157,580
73,337
235,570
420,080
159,344
260,736
290,211
159,344
130,867
342,363
92,489
249,875
212,494
92,489
120,005
77,717
66,855
10,861
38 Total loans and leases (gross) and lease-financing receivables (net)
39
LESS: Unearned income on loans
40
LESS: Loans and leases held for sale
41 Total loans and leases (net of unearned income)
42
LESS: Allowance for loan and lease losses
43 Loans and leases, net of unearned income and allowance
5,182,789
2,999
216,391
4,963,399
68,232
4,895,167
4,848,634
1,870
3,392,157
1,786
179,344
3,058,002
657
n.a.
n.a.
n.a.
n.a.
1,790,632
1,213
Total loans and leases, gross, by category
44 Loans secured by real estate
45
Construction and land development
46
Farmland
47
One- to four-family residential properties
48
Revolving, open-end loans, extended under lines of credit
2,887,115
n.a.
n.a.
n.a.
n.a.
2,839,115
359,133
47,137
1,624,433
436,885
1,651,968
162,358
7,868
1,187,147
n.a.
n.a.
n.a.
n.a.
148,945
n.a.
n.a.
n.a.
50,171
978,694
n.a.
n.a.
1,083,843
103,706
96,253
795,129
309,042
40,106
445,982
31,260
155,726
2,855
152,870
n.a.
n.a.
135,748
35 Federal funds sold and securities purchased under agreements to resell
36
Federal funds sold in domestic offices
37
Securities purchased under agreements to resell
66
67
68
69
70
71
Closed-end loans secured by one- to four-family residential properties
Secured by first liens
Secured by junior liens
Multifamily (five or more) residential properties
Nonfarm n on residential properties
Loans to depository institutions and acceptances of other banks
Commercial banks in the United States
Other depository institutions in the United States
Banks in foreign countries
Loans to finance agricultural production and other loans to farmers
Commercial and industrial loans
U.S. addressees (domicile)
Non-U.S. addressees (domicile)
Loans to individuals for household, family, and other personal expenditures (includes
purchased paper)
Credit cards
Other revolving credit plans
Other consumer loans (including single-payment, installment, and all student loans)
Obligations (other than securities) of states and political subdivisions in the United States
(includes nonrated industrial development obligations)
All other loans
Loans to foreign governments and official institutions
Other loans
Loans for purchasing and carrying securities
All other loans (excludes consumer loans)
Lease-financing receivables
72
73
74
75
76
77
78
79
80
81
Trading assets
Premises and fixed assets (including capitalized leases)
Other real estate owned
Investments in un con soli dated subsidiaries and associated companies
Customers' liability on acceptances outstanding
Net due from own foreign offices, Edge Act and agreement subsidiaries, and IBFs
Intangible assets
Goodwill
Other intangible assets
All other assets
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
519,888
89,383
3,866
10,073
5,588
n.a.
284,948
211,410
73,538
389,841
3,211,027
42,464
3,168,563
1,699,968
1,131,217
329,408
732,673
69,136
47,870
302,654
712,158
130,966
145,427
127,447
63,656
55,335
8,456
49,546
847,574
64,037
55,336
26,053
12,260
700,543
11,634
37,047
1,752,373
25,768
1,726,604
196,775
39,269
493,216
107,477
351,170
34,570
48,383
409,504
3,519
37,911
278,152
570,411
130,132
569,422
560,181
9,241
714,295
278,619
27,970
407,706
552,581
196,586
35,952
320,043
471,747
166,163
23,816
281,768
242,548
31,260
21,149
138,757
2,823
135,934
21,149
98,161
516
97,645
18,957
78,688
106,473
10,111
115,130
548
114,581
121,472
503,668
50,815
1,596
9,499
5,377
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
234,471
171,840
n.a.
n.a.
n.a.
n.a.
62,631
309,031
37,411
112,456
4,154
125,938
16,969
32
16,936
14,276
16,220
38,568
2,270
573
211
n.a.
50,477
39,570
10,907
80,810
Special Tables
4.20
59
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities—Continued
Consolidated Report of Condition, September 30, 2005
Millions of dollars except as noted
Domestic
total
Banks with foreign offices'
Banks with
domestic
offices only2
6,101,013
82 Total liabilities, minority interest, and equity capital
8,754,777
83 Total liabilities
7,862,014
6,849,293
5,496,239
4,483,519
2,365,774
84 Total deposits
85
Individuals, partnerships, and corporations (include all certified and official checks) . . . .
86
U.S. government
87
States and political subdivisions in the United States
88
Commercial banks and other depository institutions in the United States
89
Banks in foreign countries
90 Foreign governments and official institutions (including
foreign central banks)
5,860,493
5,295,046
4,958,250
4,633,928
3,750
241,006
59,314
18,303
3.910.709
3,501,265
n.a.
n.a.
68.172
175,737
3,008,467
2,840,147
2,840
111,396
34,068
18,103
1.949.783
1,793,781
910
129,610
25,246
200
91
92
93
94
95
96
97
Total transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks) . . . .
98
Total demand deposits
99
100
101
102
103
104
105
Total n on transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks)
93,418
175,937
1,950
50,815
n.a.
n.a.
n.a.
1,914
36
357,639
296,078
1,269
29,419
24,219
6,297
357
343,014
301,579
406
34,517
6,439
58
14
n.a.
n.a.
n.a.
n.a.
700,653
597,658
1,675
63,936
30,658
6,355
371
512,066
293,322
218,744
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4,257,597
4,036,271
2,074
177,070
28,656
11,948
1,579
2,650,828
2,544,069
1,570
81,977
9,849
11,805
1,557
1,606,770
1,492,202
504
95,093
18,807
142
106 Federal funds purchased and securities sold under agreements to repurchase
107
Federal funds purchased in domestic offices
108
Securities sold under agreements to repurchase
109 Trading liabilities
110 Other borrowed money (includes mortgage indebtedness and obligations under capitalized
leases)
111 Banks' liability on acceptances executed and outstanding
112 Subordinated notes and debentures to deposits
113 Net due to own foreign offices, Edge Act and agreement subsidiaries, and IBFs
114 All other liabilities
115 Minority interest in consolidated subsidiaries
638,525
197,727
440,798
269,574
565,276
197,727
367,550
524.350
144,928
379,422
268,577
451,102
144,928
306,173
n.a.
114,175
52,799
61,376
997
734,665
5,675
116,328
n.a.
236,755
14,112
650,232
3,609
478,583
5,462
108,611
n.a.
199.948
12,651
394.150
3,396
n.a.
291,595
n.a.
n.a.
256,082
212
7,717
n.a.
36.807
1,461
116 Total equity capital
878,651
592,122
n.a.
286,529
MEMO
117 Trading assets at large banks2
118
U.S. Treasury securities (domestic offices)
119
U.S. government agency obligations (excluding MBS)
120
Securities issued by states and political subdivisions in the United States
121
Mortgage-backed securities
122
Other debt securities
123
Other trading assets
124 Trading assets in foreign offices
125
Revaluation gains on interest rate, foreign exchange rate, and other
commodity and equity contracts
126 Total individual retirement (IRA) and Keogh plan accounts
127 Total brokered deposits
128 Fully insured brokered deposits
129
Issued in denominations of less than $100,000
130
Issued in denominations of $100,000, or in denominations greater than $100,000 and
participated out by the broker in shares of $100,000 or less
131 Money market deposit accounts (MMDAs)
132 Other savings deposits (excluding MMDAs)
133 Total time deposits of less than $100,000
134 Total time deposits of $100,000 or more
135 Number of banks
NOTE. The notation "n.a." indicates the lesser detail available from banks that do not have
foreign offices, the inapplicability of certain items to banks that have only domestic offices, or
the absence of detail on a fully consolidated basis for banks that have foreign offices.
1. All transactions between domestic and foreign offices of a bank are reported in "net due
from" and "net due to" lines. All other lines represent transactions with parties other than the
domestic and foreign offices of each bank. Because these intra-office transactions are nullified
by consolidation, total assets and total liabilities for the entire bank may not equal the sum of
assets and liabilities, respectively, of the domestic and foreign offices.
519.702
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
190,106
255.271
22,168
7.808
5,638
12,825
67,321
55,773
0
503,657
239,226
21,898
7,343
5,456
10,334
55,145
55,380
0
16,045
271
465
182
2,491
12,176
393
0
158.063
n.a.
n.a.
n.a.
n.a.
83,738
170,451
331,022
186,383
75,999
157,995
83,670
75,896
181,661
78,707
48,467
68
94,555
149,362
107,676
27,532
30,240
1,403,996
458,067
322,006
466,759
80,144
567,163
271,745
408,348
359,513
n.a.
n.a.
n.a.
n.a.
n.a.
110,384
1,971,159
729,811
730,354
826.272
7,521
Foreign offices include branches in foreign countries, Puerto Rico, and US.-affiliated
insular areas; subsidiaries in foreign countries; all offices of Edge Act and agreement
corporations wherever located; and international banking facility (IBF).
2. Components of "Trading Assets at Large Banks" are reported only by banks that
reported trading assets of $2 million or more any quarter of the preceding calendar year.
60
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21, 58-59
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS 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, 58-59
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21, 58-59
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21, 58-59
Commercial and industrial loans, 15-21, 58-59
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, 58-59
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
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, 58-59
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, '
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 and retail sales, 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, 58-59
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44-55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting banks, 17, 18
YIELDS (See Interest rates)
61
@FedFRASER