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Volume 3 • Number 12 D December 2006
k
Statistical Supplement
^ to the Federal Reserve
" BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Rosanna Pianalto Cameron, Chair • Scott G. Alvarez • Sandra Braunstein • Roger T. Cole
• Marianne M. Emerson • Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus
• Vincent R. Reinhart • Louise L. Roseman • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin (1914-2003).
The Statistical Supplement began publication in
2004. It is designed as a compact source of economic
and financial data. All statistical series are published
with the same frequency that they had in the Bulletin,
and the numbering system for the tables remains the
same.
Subscription information for the Statistical Supplement is on the inside front cover. For subscription
information about the Bulletin, contact Publications
Fulfillment at (202) 452-3245, or send an e-mail
to publications-bog@frb.gov. The Supplement is
also available on the Board's website, at
www.federalreserve.gov/pubs/supplement.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886, or send an e-mail
to publications-bog@frb.gov.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of December 2006.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Factors affecting reserve balances of depository
institutions
6 Reserves and borrowings—Depository
institutions
Policy
Instruments
7 Federal Reserve Bank interest rates
8 Reserve requirements of depository institutions
9 Federal Reserve open market transactions
Federal Finance
25 Federal debt subject to statutory limitation
25 Gross public debt of U.S. Treasury—
Types and ownership
26 U.S. government securities
dealers—Tran saction s
27 U.S. government securities dealers—
Positions and financing
28 Federal and federally sponsored credit
agencies—Debt outstanding
Securities Markets and Corporate Finance
29 New security issues—State and local governments
29 New security issues—U.S. corporations
30 Open-end investment companies—Net sales
and assets
30 Domestic finance companies—Assets and liabilities
31 Domestic finance companies—Owned and managed
receivables
Federal Reserve Banks
10 Condition and Federal Reserve note statements
11 Maturity distribution of loans and securities
Monetary and Credit Aggregates
Real Estate
32 Mortgage markets—New homes
33 Mortgage debt outstanding
12 Aggregate reserves of depository institutions
and monetary base
13 Money stock measures
Commercial Banking Institutions—
Assets and Liabilities
15
16
17
19
20
21
All commercial banks in the United States
Domestically chartered commercial banks
Large domestically chartered commercial banks
Small domestically chartered commercial banks
Foreign-related institutions
Memo items
Consumer Credit
34 Total outstanding
34 Terms
Flow of Funds
35
37
38
39
Funds raised in U.S. credit markets
Summary of financial transactions
Summary of credit market debt outstanding
Summary of financial assets and liabilities
Financial Markets
22 Commercial paper outstanding
22 Prime rate charged by banks on short-term
business loans
23 Interest rates—Money and capital markets
24 Stock market—Selected statistics
DOMESTIC NONFINANCIAL STATISTICS
Selected
Measures
40 Output, capacity, and capacity utilization
42 Industrial production—Indexes and gross value
2
Federal Reserve Bulletin Statistical Supplement • December 2006
INTERNATIONAL STATISTICS
Summary
Statistics
44 U.S. international transactions
44 U.S. reserve assets
45 Foreign official assets held at Federal Reserve
Banks
45 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
45
46
48
49
Liabilities to, and claims on, foreigners
Liabilities to foreigners
Banks' own claims on foreigners
Banks' own and domestic customers' claims on
foreigners
Reported by Nonbanking Business
Enterprises in the United States
50 Liabilities to unaffiliated foreigners
52 Claims on unaffiliated foreigners
Securities Holdings and Transactions
54 Foreign transactions in securities
55 Marketable U.S. Treasury bonds and
notes—Foreign transactions
Interest and Exchange Rates
56 Foreign exchange rates and indexes of the foreign
exchange value of the U.S. dollar
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Assets and liabilities of commercial banks,
September 30, 2006
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
l-l
c
e
n.a.
n.e.c.
P
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
GDP
Corrected
Estimated
Not available
Not elsewhere classified
Preliminary
Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
Calculated to be zero
Cell not applicable
Asset-backed security
Automatic transfer service
Bank insurance fund
Certificate of deposit
Collateralized mortgage obligation
Community Reinvestment Act of 1977
Federal Agricultural Mortgage Corporation
Federal Financing Bank
Federal Financial Institutions Examination Council
Federal Housing Administration
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Farmers Home Administration
Federal National Mortgage Association
Farm Service Agency
Federal Savings and Loan Insurance Corporation
Group of Seven
Group of Ten
Gross domestic product
GNMA
GSE
HUD
IBF
IMF
IOs
IPCs
IRA
MMDA
MSA
NAICS
NOW
OCDs
OPEC
OTS
PMI
POs
REIT
REMICs
RHS
RP
RTC
SCO
SDR
SIC
STRIPS
TIIS
TIPS
VA
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International banking facility
International Monetary Fund
Interest-only, stripped, mortgage-backed securities
Individuals, partnerships, and corporations
Individual retirement account
Money market deposit account
Metropolitan statistical area
North American Industry Classification System
Negotiable order of withdrawal
Other checkable deposits
Organization of Petroleum Exporting Countries
Office of Thrift Supervision
Private mortgage insurance
Principal-only, stripped, mortgage-backed securities
Real estate investment trust
Real estate mortgage investment conduits
Rural Housing Service
Repurchase agreement
Resolution Trust Corporation
Securitized credit obligation
Special drawing right
Standard Industrial Classification
Separate trading of registered interest and principal
of securities
See TIPS
Treasury inflation-protected securities (formerly
TIIS, or Treasury inflation-indexed securities)
Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
4
Federal Reserve Bulletin Statistical Supplement • December 2006
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q4
May
July
Aug.
Sept
-38.0
-39.2
-38.7
.6
-4.0
1.2
-.5
-2.8
4.1'
n.a.
-10.9
2.9
n.a.
5.9
n.a.
6.4
n.a.
2
1
2
3
4
Reserves of depository institutions
Total
Required
Nonborrowed
Monetary base3
Concepts of money15 Ml
6 M2
7 M3
Nontransaction components
8 In M2S
9 In M3 only1"
-4.2
-5.0
-2.6
4.2
-12.7
-10.3
-12.0
6.1
9.5
7.5
8.5
4.4
-15.3
-14.3
-16.7
-.4
11.6
12.9
13.7
6.7
9.9
10.7
7.8
-1.4
-26.9
-34.8
-2.8
2.2
6.3
.9
3.0
n.a.
-4.7
3.8
n.a.
5.5
1.0
n.a.
-19.6
5.2
2.7
3.7
3.5
n.a.
5.9
n.a.
-.1
n.a.
5.0
9.3
6.4
17.7
Time and savings deposits
Commercial banks
Savings, including MMDAs
Small time7
Large times>*
Thrift institutions
13
Savings, including MMDAs
14
Small time7
15 Large times
7.0
6.8
21.4
5.6
16.0
-.1
16.2
n.a.
-2.1
19.3
n.a.
-10.6
13.0
n.a.
6.6
15.9
-3.8
21.8
-5.9
21.6
n.a.
1.5
17.5
n.a.
-3.6
30.5
36.0
2.4
16.8
-7.3
19.0'
n.a.
-1.1
26.7
n.a.
6.0
17.6'
n.a.
3.1'
20.0'
-8.8
26.8'
6.6'
32.5
n.a.
-8.9
31.9
n.a.
Money market mutual funds
16 Retail10
17 Institution-only
5.0
12.1
7.9
9.1
11.7
11.5
22.0
16.8
12.1
15.6
32.4
15.6
19.7
10.9
20.6
24.5
17.3
20.8
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
22.3
7.9
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
10
11
12
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
1. 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.
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
FACTORS AFFECTING RESERVE BALANCES OF DEPOSITORY INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
July
Aug.
Sept.
Aug. 16
Aug. 23
Aug. 30
Sept. 6
Sept. 13
Sept. 20
Sept. 27
830,486
765,626
765,626
276,115
461,869
23,791
3,851
0
23,790
326
14
0
312
-276
41,021
11,041
2,200
38,008
827,848
765,023
765,023
277,019
458,006
26,019
3,980
0
22,774
389
47
0
343
-440
40,101
11,041
2,200
38,025
828,207
768,096
768,096
277,019
461,004
26,019
4,055
0
20,008
411
343
314
39,378
11,041
2,200
38,052
829,235
764,837
764,837
277,019
457,826
26,019
3,974
0
23,429
347
8
0
339
-357
40,980
11,041
2,200
38,025
825,031
764,850
764,850
277,019
457,826
26,019
3,987
0
21,536
348
7
0
341
-270
38,567
11,041
2,200
38,025
828,876
765,398
765,398
277,019
458,360
26,019
4,001
0
24,393
412
52
0
361
-222
38,896
11,041
2,200
38,025
832,104
766,751
766,751
277,019
459,695
26,019
4,019
0
26,357
345
3
0
341
-157
38,808
11,041
2,200
38,025
826,496
767,291
767,291
277,019
460,216
26,019
4,038
0
18,250
584
244
0
340
1,253
39,117
11,041
2,200
38,040
828,932
768,887
768,887
277,019
461,791
26,019
4,059
0
19,429
355
11
0
345
840
39,421
11,041
2,200
38,055
825,239
768,908
768,908
277,019
461,791
26,019
4,080
0
16,643
384
31
0
353
-663
39,967
11,041
2,200
38,069
795,271
29,153
29,153
0
162
793,952
27,820
27,820
0
161
794,020
27,814
27,814
0
166
794,418
28,893
28,893
0
160
793,264
27,503
27,503
0
159
793,538
25,768
25,768
0
170
798,503
27,051
27,051
0
172
796,131
27,089
27,089
0
176
792,495
27,497
27,497
0
165
790,748
28,391
28,391
0
158
12,528
5,013
98
7,135
7,135
0
282
35,072
9,549
12,416
4,885
90
7,078
7,077
1
364
35,549
9,217
12,250
4,939
92
6,893
6,893
0
327
35,976
9,274
12,321
4,747
89
7,201
7,201
0
285
35,381
9,330
12,707
4,997
89
6,980
6,980
0
640
35,597
7,067
12,429
5,095
90
6,980
6,980
0
263
35,642
12,596
11,925
4,531
92
6,791
6,791
0
512
35,852
9,867
11,893
4,749
95
6,787
6,787
0
262
35,844
6,645
13,466
6,113
89
6,969
6,969
0
294
35,939
10,666
11,606
4,280
90
6,967
6,967
0
269
36,212
9,434
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Reserve Bank credit outstanding
Securities held outright
U.S. Treasuiy2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans to depository institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
19
20
21
22
23
24
Currency in circulation
Reverse repurchase agreements'"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reserve Banks, other than
reserve balances
U.S. Treasury, general account
Foreign official
Service-related
Required clearing balances
Adjustments to compensate for float
Other
Other liabilities and capital
Reserve balances with Federal Reserve Banks7 . .
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
End-of-month figures
July
Wednesday figures
Sept.
Aug. 16
Aug. 23
Aug. 30
Sept. 6
Sept. 13
Sept. 20
Sept. 27
823,341
764,855
764,855
277,019
457,826
26,019
3,992
0
19,750
367
10
0
357
-316
38,685
11,041
2,200
38,025
836,420
766,738
766,738
277,019
459,695
26,019
4,006
0
30,250
693
331
0
361
-398
39,138
11,041
2,200
38,025
832,152
766,757
766,757
277,019
459,695
26,019
4,025
0
19,750
348
7
0
341
6,371
38,926
11,041
2,200
38,025
826,208
768,874
768,874
277,019
461,791
26,019
4,046
0
16,000
2,023
1,677
0
346
39,278
11,041
2,200
38,040
823,490
768,895
768,895
277,019
461,791
26,019
4,067
0
15,000
363
11
0
352
-386
39,619
11,041
2,200
38,055
835,339
768,915
768,915
277,019
461,791
26,019
4,087
0
27,500
366
11
0
355
-1,468
40,025
11,041
2,200
38,069
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 .
836,815
764,811
764,811
277,019
457,826
26,019
3,948
0
30,250
361
16
0
345
44
41,348
11,041
2,200
38,026
832,072
766,739
766,739
277,019
459,695
26,019
4,008
0
30,250
349
0
0
349
-3,783
38,517
11,041
2,200
38,025
829,226
768,924
768,924
277,019
461,791
26,019
4,096
0
21,500
322
0
320
-1,099
39,579
11,041
2,200
38,084
828,143
764,842
764,842
277,019
457,826
26,019
3,979
0
25,250
361
19
0
342
-790
38,480
11,041
2,200
38,025
792,624
29,933
29,933
0
148
797,545
28,263
28,263
0
171
790,582
31,155
31,155
0
150
795,431
27,509
27,509
0
157
793,852
26,553
26,553
0
170
797,084
26,084
26,084
0
171
799,270
26,878
26,878
0
177
795,610
26,923
26,923
0
166
792,733
28,499
28,499
0
160
792,208
31,466
31,466
0
150
11,981
4,546
88
7,028
7,028
0
320
35,688
17,708
12,046
4,907
89
6,791
6,791
0
259
35,677
9,638
12,777
5,451
98
6,992
6,992
0
236
36,027
9,859
12,009
4,443
88
7,201
7,201
0
277
35,151
9,152
12,332
4,943
90
6,980
6,980
0
318
35,210
6,491
12,243
4,919
89
6,980
6,980
0
255
35,422
16,682
11,545
4,373
104
6,791
6,791
0
277
35,454
10,094
11,837
4,690
93
6,787
6,787
0
266
35,547
7,406
12,547
5,216
85
6,969
6,969
0
276
35,666
5,182
11,879
4,585
91
6,967
6,967
0
236
35,696
15,250
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 2006
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averag es of biweekly averages
Reserve classification
1
3
4
5
6
7
8
u
10
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
Seasonal
2006
2003
2004
2005
Dec.
Dec.
Dec.
Mar.
Apr.
May
June
July
Aug.
Sept.
10,863
44,063
32,086
11,976
42,949
41,906
1,043
12,046
47,264
34,801
12,462
46,848
44,938
1,909
10,047
51,318
35,359
15,959
45,406
43,497
1,909
9,133
49,627
33,622
16,005
42,755
41,251
1,504
10,287
48,389
34,450
13,939
44,737
42,911
1,826
10,649
48,301
34,796
13,505
45,445
43,648
1,797
9,920
48,992
35,147
13,845
45,067
43,282
1,785
9,631
49,621
35,232
14,389
44,862
43,311
1,551
8,877
50,245
33,720
16,525
42,597
41,050
1,547
9,128
49,420
33,468
15,953
42,595
40,833
1,762
46
17
0
29
63
169
97
0
72
169
119
0
50
248
164
0
84
175
24
0
151
253
16
0
237
350
39
0
312
369
26
0
343
403
66
0
338
0
52
B
weekly a\ erages of daily igures for tw o-week perio ds ending on d ites indie ited
2006
1
7
3
4
5
6
7
8
u
10
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
Seasonal
June 7
June 21
July 5
July 19
Aug. 2
Aug. 16
Aug. 30
Sept. 13
Sept. 27
Oct. 11
10,385
47,843
33,964
13,879
44,349
42,349
2,000
9,630
48,549
34,826
13,723
44,456
42,823
1,632
10,010
50,577
36,567
14,010
46,577
44,722
1,855
8,416
49,192
32,943
16,249
41,359
39,886
1,473
10,890
49,724
37,345
12,379
48,235
46,720
1,515
7,672
51,244
31,537
19,708
39,208
37,619
1,589
9,836
49,427
35,580
13,848
45,415
43,944
1,471
8,304
48,750
31,005
17,746
39,308
37,248
2,060
10,070
49,541
35,852
13,689
45,922
44,517
1,405
8,303
51,763
33,014
18,749
41,317
39,180
2,137
209
19
0
191
250
15
0
235
292
16
0
277
314
14
0
301
418
78
0
340
344
9
0
335
380
30
0
351
465
124
0
341
370
21
0
349
295
23
0
273
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
1.14
FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit1
L l—U-Ll i l l
l\.\_i\_l
Secondary credit2
Seasona credit3
VL-
Bank
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
On
12/15/06
Effective date
Previous rate
On
12/15/06
Effective date
Previous rate
On
12/15/06
Effective date
Previous rate
6.25
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.00
i
6.75
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.50
i
5.30
8/17/06
5.35
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
6.25
1
6.00
6.75
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
i
1
6.50
1
5.30
8/17/06
5.35
Range of rates for primary credit
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2.25
2.25
2003—June 25
26
2.00-2.25
2.00
2.00
2.00
2004—June 30
July 1
Aug. 10
11
Sept. 21
22
Nov. 10
12
Dec. 14
15
2.00-2.25
2.25
2.25-2.50
2.50
2.50-2.75
2.75
2.75-3.00
3.00
3.00-3.25
3.25
2.25
2.25
2.50
2.50
2.75
2.75
3.00
3.00
3.25
3.25
2005—Feb.
3.25-3.50
3.50
Effective date
In effect Jan. 9,2003
(beginning of program)
2
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2005—Feb. 3
Mar. 22
24
May 3
4
June 30
July 1
Aug. 9
10
Sept. 20
22
Nov. 1
2
Dec. 13
14
3.50
3.50-3.75
3.75
3.75^1.00
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
2006—Jan. 31
Feb. 2
5.25-5.50
5.50
5.50
5.50
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.50-5.75
5.75
5.75-6.00
6.00
6.00-6.25
6.25
5.75
5.75
6.00
6.00
6.25
6.25
6.25
6.25
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2001—June 27
29
Aug. 21
23
Sept. 17
18
Oct. 2
4
Nov. 6
8
Dec. 11
13
3.25-3.50
3.25
3.00-3.25
3.00
2.50-3.00
2.50
2.00-2.50
2.00
1.50-2.00
1.50
1.25-1.50
1.25
3.25
3.25
3.00
3.00
2.50
2.50
2.00
2.00
1.50
1.50
1.25
1.25
2002—Nov. 6
7
0.75-1.25
0.75
0.75
0.75
0.75
0.75
Effective date
2006—Mar. 28
30
May 10
\\
June 29
July 6
In effect December 15, 2006 . . .
Range of rates for adjustment credit in recent years4
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
In effect Dec. 31,1995
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
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
Effective date
In effect Jan. 8, 2003
(end of program)
and ordinarily is reestablished on the first business day of each two-week reserve maintenance
period.
4. Was available until January 8, 2003, to help depository institutions meet temporary
needs for funds that could not be met through reasonable alternative sources. For earlier data,
see the following publications of the Board of Governors: Banking and Monetary Statistics,
1914-1941, and 1941-1970; the Annual Statistical Digest, 1970-1979, 1980-1989, and
1990-1995; and the Statistical Digest, 1996-2000. See also the Board's Statistics: Releases
and Historical Data webpages www.federalreserve.gov/releases/H15/data.htm.
8
1.15
Federal Reserve Bulletin Statistical Supplement • December 2006
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Percentage of
liabilities
Effective date
0
3
10
12/21/06
12/21/06
12/21/06
4 Nonpersonal time deposits
0
12/27/90
5 Eurocurrency liabilities
0
12/27/90
Net transaction accounts*
1 $0 million-$8.5 million2
2 More than $8.5 million-$45.8 million3
3 More than $45.8 million
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.
For a more detailed description of these deposit types, see Form FR 2900 at
www.federalreserve.gov/boarddocs/reportforms.
2. The amount of net transaction accounts subject to a reserve requirement ratio of zero
percent (the "exemption amount" ) is adjusted each year by statute. The exemption amount is
adjusted upward by 80 percent of the previous year's (June 30 to June 30) rate of increase in
total reservable liabilities at all depository institutions. No adjustment is made in the event of
a decrease in such liabilities.
3. The amount of net transaction accounts subject to a reserve requirement ratio of 3
percent is the "low reserve tranche." By statute, the upper limit of the low reserve tranche is
adjusted each year by 80 percent of the previous year's (June 30 to June 30) rate of increase or
decrease in net transaction accounts held by all depository institutions.
Policy Instruments
1.17
9
FEDERAL RESERVE OPEN MARKET TRANSACTIONS1
Millions of dollars
Type of transaction
and maturity
Apr.
U.S. TREASURY SECURITIES
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
July
Aug.
2
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
18,150
0
738,886
738,886
0
18,138
0
821,685
821,685
0
8,300
0
871,661
871,661
0
1,308
0
68,077
68,077
0
1,228
0
79,509
79,509
0
0
64,886
64,886
0
0
0
75,196
75,196
0
0
0
95,728
95,728
0
1,649
0
70,972
70,972
0
0
0
90,885
90,885
0
6,565
0
96,433
-103,153
0
7,994
0
103,380
-118,373
0
2,894
0
109,557
-108,098
2,795
1,200
0
11,858
-10,989
0
0
0
8,000
-8,334
0
0
0
0
-834
0
1,375
0
24,441
-15,746
1,217
0
0
6,667
-7,997
0
0
0
6,614
-10,078
3,931
415
0
20,379
-13,535
0
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
11,309
0
-91,121
97,723
2,498
0
-4,775
9,306
2,136
0
-4,500
8,334
1,096
0
0
834
2,317
0
-21,298
13,452
2,650
0
-3,167
7,997
549
0
-3,784
7,254
1,454
0
-13,673
10,421
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
3,626
0
-7,041
7,375
25
0
-5,205
841
174
0
-3,500
0
101
0
949
2,294
1,080
0
-3,500
0
0
0
-2,830
1,588
0
0
-5,149
1,557
220
0
-8,938
0
1,364
0
-10,524
0
2,007
0
-11,395
3,000
924
0
-1,878
841
90
0
0
0
0
0
0
0
0
-4,092
0
0
0
0
0
0
0
0
1,235
0
0
-1,557
1,557
36,856
0
0
50,507
0
0
28,136
0
2,795
5,955
0
0
3,628
0
0
1,096
0
0
3,793
0
1,217
3,730
0
0
0
3,931
1,869
0
0
1,522,888
1,518,638
1,876,900
2,097,050
157,000
151,250
204,250
209,000
163,750
166,250
200,750
194,250
182,000
181,500
177,000
178,000
178,000
178,000
4,942,131
4,946,691
5,621,153
5,626,285
6,421,223
6,420,945
445,563
446,346
558,568
560,306
488,091
485,659
531,844
532,338
567,926
572,488
584,190
584,959
642,084
640,413
-310
-15,882
4,967
-6,488
-68
6,006
-4,061
-1,769
1,671
36,536
34,626
10,922
-2,860
1,028
-331
-3,502
3,540
26 Net change in U.S. Treasury securities . . .
FEDERAL AGENCY OBLIGATIONS
Outright transactions
Gross purchases
Gross sales
Redemptions
Net change in federal agency obligations
TEMPORARY TRANSACTIONS
Repurchase agreements^
Gross purchases
Gross sales
Matched sale-purchase agreements
i Gross purchases
• Gross sales
Reverse repurchase agreements*
Gross purchases
Gross sales
Net change in temporary transactions
Total net change in System Open Market Account
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 2006
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
Aug. 30
Sept. 6
Sept. 13
End of month
Sept. 20
Sept. 27
Aug.
Sept.
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
11,037
2,200
781
797,680
766,738
766,738
277,019
459,695
26,019
4,006
0
30,250
693
4,060
1,877
37,171
20,120
17,051
11,037
2,200
780
786,855
766,757
766,757
277,019
459,695
26,019
4,025
0
19,750
348
12,790
1,882
36,969
20,116
16,853
11,037
2,200
809
786,897
768,874
768,874
277,019
461,791
26,019
4,046
0
16,000
2,023
4,738
1,886
37,311
19,998
17,313
11,037
2,200
837
784,258
768,895
768,895
277,019
461,791
26,019
4,067
0
15,000
363
4,317
1,888
37,655
20,011
17,644
11,037
2,200
858
796,782
768,915
768,915
277,019
461,791
26,019
4,087
0
27,500
366
3,141
1,889
38,069
20,000
18,068
11,037
2,200
765
795,422
764,811
764,811
277,019
457,826
26,019
3,948
0
30,250
361
2,615
1,870
39,233
20,217
19,016
11,037
2,200
786
797,338
766,739
766,739
277,019
459,695
26,019
4,008
0
30,250
349
2,991
1,886
36,550
20,072
16,478
11,037
2,200
873
790,746
768,924
768,924
277,019
461,791
26,019
4,096
0
21,500
322
2,600
1,893
38,170
19,961
18,209
854,806
852,512
844,878
842,191
853,975
853,143
852,788
847,519
760,006
26,084
28,831
23,568
4,919
89
255
4,462
5,330
762,197
26,878
21,565
16,811
4 373
104
277
6,418
5,339
758,542
26,923
19,162
14,112
4,690
93
266
4,705
5,464
755,670
28,499
17,655
12,077
5,216
85
276
4,701
5,445
755,142
31,466
27,063
22,151
4,585
91
236
4,607
5,514
755,507
29,933
29,448
24,494
4,546
88
320
2,567
5,047
760,472
28,263
24,780
19,525
4 907
89
259
3,597
5,542
753,517
31,155
23,115
17,330
5,451
98
236
3,704
5,608
824,714
822,397
814,795
811,970
823,792
822,502
822,653
817,100
30 Capital paid in
31 Surplus
32 Other capital accounts
15,060
12,901
2,131
15,064
12,901
2,151
15,068
12,901
2,114
15,057
12,901
2,262
15,067
12,901
2,214
14,996
12,901
2,743
15,061
12,901
2,173
15,069
12,901
2,449
33 Total capital
30,092
30,116
30,083
30,220
30,182
30,641
30,135
30,419
1,675,570
1,140,653
534,918
9,696
1,684,992
1,149,942
535,050
1,911
1,681,477
1,143,934
537,542
2,393
1,668,440
1,127,801
540,639
0
1,666,925
1,123,431
543,494
431
1,655,927
1,122,775
533,152
3,271
1,678,418
1,142,802
535,615
3,748
1,671,406
1,127,142
544,264
1,969
19 Total assets
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
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
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
931,912
931,851
932,763
932,908
933,436
931,414
932,183
933,838
171,906
760,006
760,006
11,037
2,200
746,769
169,654
762,197
762,197
11,037
2,200
748,960
0
174,221
758,542
758,542
11,037
2,200
745,305
0
177,238
755,670
755,670
11,037
2,200
742,433
178,294
755,142
755,142
11,037
2,200
741,905
175,908
755,507
755,507
11,037
2,200
742,270
0
171,711
760,472
760,472
11,037
2,200
747,235
0
180,321
753,517
753,517
11,037
2,200
740,280
796,988
786,507
784,874
783,895
796,415
795,061
796,989
790,424
26,122
26,917
26,959
28,539
31,511
29,998
28,300
31,218
770,866
759,590
757,915
755,356
764,905
765,063
768,689
759,207
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
End of month
Type of holding and maturity
Aug. 30
Sept. 6
Sept. 20
Sept. 27
642
1,731
51
0
50
298
0
346
17
0
349
17
0
249
112
0
230
119
0
231
292
0
766,738
63.768
164,899
184,496
212,576
59,713
81,285
766,757
768,874
768,895
768,915
764,811
766,739
768,924
55,397
171,654
185,406
213,289
59,717
81,294
54,071
172,526
185,863
214,615
60,269
81,531
60,426
165,469
186,566
214,621
60,272
81,540
58,235
166,986
187,242
214,627
60,276
81,550
41,516
180,436
183,241
218,565
61,351
79,703
37,024
168,950
206,483
213,284
59,713
81,286
40,997
183,701
187,766
214,629
60,278
81,554
12 Total federal agency securities
0
13
14
15
16
17
18
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
1 Total loans
2 Within 15 days
3 16 days to 90 days
4 91 days to 1 year
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
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
Sept. 13
Aug.
Sept.
2,023
90
0
19 Total repurchase agreements2
30,250
16,000
15,000
20 Within 15 days
30,250
19,750
0
16,000
0
15,000
0
27,500
0
30,250
0
30,250
0
21,500
0
26,084
26,878
26,923
28,499
31,466
29,933
28,263
31,155
26,084
0
26,878
26,923
0
28,499
0
31,466
29,933
0
28,263
0
31,155
21 16 days to 90 days
22 Total reverse repurchase agreements2 .
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.
30,250
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • December 2006
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2002
Dec.
2003
Dec.
2004
Dec.
2005
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
40.36
40.28
38.35
681.46
42.70
42.65
41.66
720.13
46.63
46.56
44.72
758.99
45.31
45.14
43.40
787.09
44.17
44.11
42.62
796.56
43.70
43.53
42.20
799.14
44.61
44.36
42.78
801.98
45.04
44.87
43.24
806.47
45.41
45.16
43.63
805.53
44.20
43.85
42.65
803.68
42.80
42.44
41.26
804.06
42.88
42.48
41.12
803.75
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7
Monetary bases
40.13
40.05
38.12
686.23
42.45
42.41
41.41
725.21
46.52
46.46
44.61
764.66
45.16
44.99
43.25
793.38
44.67
44.62
43.12
796.17
42.78
42.61
41.27
798.22
44.76
44.51
42.94
800.90
45.47
45.29
43.67
804.71
45.10
44.85
43.31
804.91
44.90
44.55
43.35
804.65
42.63
42.26
41.08
802.75
42.63
42.23
40.87
803.12
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
45.41
45.24
43.50
802.31
1.91
.17
44.66
44.61
43.11
804.43
1.55
.05
42.76
42.59
41.25
806.25
1.50
.17
44.74
44.49
42.91
808.43
1.83
.25
45.45
45.27
43.65
811.90
1.80
.18
45.07
44.81
43.28
812.23
1.79
.25
44.86
44.51
43.31
811.77
1.55
.35
42.60
42.23
41.05
809.82
1.55
.37
42.60
42.19
40.83
810.00
1.76
.40
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
2002
Dec.
2003
Dec.
2004
Dec.
2005
Dec.
July
Aug.
Sept.
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,219.0
5,773.6
8,568.0
1,304.1
6,059.4
8,872.3
1,372.1
6,408.1
9,433.0
1,368.5
6,664.8
10,154.0
1,370.3
6,817.4'
n.a.
1,373.4
6,838.7'
n .a.
1,370.2
6,862.3
n.a.
1,357.7
6,878.8
n.a.
626.2
7.8
306.0
279.1
662.3
7.7
324.5
309.5
697.3
7.6
340.2
327.1
723.4
7.3
320.5
317.3
740.8
7.0
312.4
310.1
740.2
6.8
318.8
307.6'
741.0
6.8
316.8
305.5'
740.8
6.8
305.8
304.3
4,554.6
2,767.4
4,755.4
2,792.7
5,035.9
3,011.1
5,296.3
3,478.5
5,447.0
n.a.
5,465.2
n .a.
5,492.1
n.a.
5,521.2
n.a.
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,060.9
590.1
698.2
2,337.8
536.4
764.5
2,632.0
545.1
909.3
2,771.7
633.9
1,122.9
2,790.1
688.1
n.a.
2,781.3
700.6
n .a.
2,161.1
713.2
n.a.
2,771.1
723.6
n.a.
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
717.9
302.4
117.5
831.5
273.4
120.7
887.5
271.8
161.5
850.0
339.8
230.7
846.8
372.3'
n.a.
840.6
380.6
n .a.
845.2'
390.9
n.a.
838.9
401.3
n.a.
883.3
1,256.1
776.2
1,123.1
699.5
1,073.9
701.0
1,142.4
749.8
1,206.1
762.1
1,217.1
775.2
1,241.9
786.4
1,263.4
473.4
230.7
494.8
295.3
492.6
379.1
564.3
423.9
n.a.
n.a.
n .a.
n .a.
n.a.
n.a.
n.a.
n.a.
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 seasons lly adjusted
2
Measures
20 Ml
21 M2
22 M3
1,245.0
5,805.1
8,633.5
1,332.0
6,091.7
8,927.8
1,401.3
6,442.9
9,482.2
1,396.5
6,702.3
10,201.4
1,378.0
6,819.8'
1,367.1
6,839.4'
n.a.
1,369.2
6,855.7
1,346.8
6,882.5
630.3
7.7
323.3
283.8
666.7
7.6
342.6
315.0
702.4
7.5
358.7
332.7
728.9
7.2
337.7
322.7
741.1
7.0
318.1
311.8
741.1
7.0
313.0
305.9
740.4
7.0
316.8'
305.0'
739.5
6.8
300.6
299.9
Nontransaction components
27 In M27
28 In M3 onlys
4,560.1
2,801.3
4,759.8
2,815.9
5,041.6
3,025.4
5,305.8
3,488.3
5,472.3'
n.a.
5,486.6
n.a.
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
2,061.6
590.2
697.4
2,337.9
536.2
760.9
2,633.3
544.8
903.3
2,776.0
633.3
1,114.4
2,789.0
688.7
2,790.3
701.2
n.a.
2,765.2
713.8
2,784.3
723.9
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
718.2
302.4
117.3
831.5
273.4
120.1
887.9
271.6
160.4
851.3
339.5
228.9
846.5
372.6
843.3
380.9'
n.a.
844.4
391.2
n.a.
842.8
401.5
887.7
1,289.8
780.8
1,150.1
704.1
1,095.8
705.7
1,162.6
744.9
1,196.2
756.6
1,205.9
771.9
1,238.4
783.2
1,258.9
476.4
228.8
497.6
292.8
494.6
376.6
566.1
422.0
23
24
25
26
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Money market mutual funds
35 Retail12
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appeal on following page.
n.a.
n.a.
14
Federal Reserve Bulletin Statistical Supplement • December 2006
NOTES TO TABLE 1.21
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
1. Latest monthly and weekly figures are available from the Board's H.6 (508) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 are available from the Money and Reserves Projections Section, Division of Monetary
Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depository institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement account (IRA) and Keogh balances at depository institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted Ml.
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depository institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the result to seasonally adjusted M2.
3. Currency outside the U.S. Treasury, Federal Reserve Banks, and vaults of depository
institutions.
4. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers.
Travelers checks issued by depository institutions are included in demand deposits.
5. Demand deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations (excluding those amounts held by
depository institutions, the U.S. government, and foreign banks and official institutions) less
cash items in the process of collection and Federal Reserve float.
6. Consists of NOW and ATS account balances at all depository institutions, credit union
share draft account balances, and demand deposits at thrift institutions.
7. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances.
8. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted.
9. Small time deposits are those issued in amounts of less than $100,000. All IRAs and
Keogh accounts at commercial banks and thrift institutions are subtracted from small time
deposits.
10. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
11. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
12. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
A. All commercial banks
15
Assets and Liabilities'
Billions of dollars
Wednesday figures
Monthly averages
Account
Nov.
2006
2006
2005
May
June'
July'
Aug.'
Sept.'
Oct.'
Nov.
Nov. 8
Nov. 15
Nov. 22
Nov. 29
Seasonally adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
7,449.9
2,060.1
1,144.3
915.7
5,389.9
1,033.4
2,882.7
445.0
2,437.8
711.9
248.0
513.8
306.3
313.3
702.6'
7,922.5
2,204.4
1,193.1
1,011.3
5,718.1
1,118.3
3,040.8
443.8
2,597.1
733.6
281.1
544.2
287.4
306.7
774.3'
7,927.8
2,185.6
1,199.4
986.2
5,742.1
1,126.6
3,080.7
444.6
2,636.1
728.6
259.3
547.1
298.0
306.9
779.9
7,970.9
2,187.6
1,210.3
977.3
5,783.2
1,137.8
3,117.9
451.2
2,666.7
721.8
257.3
548.4
290.7
313.3
789.9
8,021.2
2,196.2
1,217.6
978.6
5,825.0
1,165.6
3,116.9
447.2
2,669.6
727.1
263.6
551.8
281.1
300.1
793.0
8,024.1
2,173.9
1,204.2
969.7
5,850.2
1,168.2
3,135.1
449.1
2,685.9
725.2
273.8
547.9
307.8
292.8
794.7
8,149.0
2,187.2
1,210.8
976.5
5,961.8
1,179.5
3,276.7
465.0
2,811.7
721.6
275.6
508.4
318.6
297.2
810.5
8,193.5
2,206.1
1,207.8
998.3
5,987.4
1,184.2
3,281.7
466.6
2,815.1
727.3
284.0
510.3
333.2
294.6
809.8
8,174.4
2,203.3
1,220.1
983.1
5,971.1
1,184.0
3,277.8
466.0
2,811.8
722.4
286.5
500.4
308.4
303.5
782.4
8,167.8
2,194.6
1,209.4
985.2
5,973.2
1,181.4
3,274.5
466.7
2,807.8
726.7
277.7
512.9
341.9
281.4
821.3
8,190.5
2,209.0
1,206.5
1,002.5
5,981.5
1,184.4
3,280.9
465.8
2,815.0
727.3
275.8
513.1
348.9
304.9
804.7
8,233.7
2,214.7
1,194.9
1,019.8
6,019.0
1,184.7
3,292.7
467.7
2,825.1
732.4
295.2
514.0
332.3
286.2
830.6
8,704.5'
9,223.1'
9,244.9
9,296.9
9,327.6
9,351.5
9,506.2
9,561.8
9,499.5
9,543.3
9,579.7
9,613.5
5,733.4
672.8
5,060.6
1,414.3
3,646.3
1,709.4
368.5
1,340.9
72.4'
501.0
5,979.8
677.2
5,302.6
1,574.4
3,728.3
1,822.5
366.1
1,456.5
78.5'
570.7'
6,001.8
663.8
5,338.0
1,598.8
3,739.2
1,827.4
366.7
1,460.7
74.0
554.4
6,027.8
639.2
5,388.6
1,612.9
3,775.7
1,797.8
348.5
1,449.3
119.6
563.9
6,036.5
659.6
5,376.9
1,644.7
3,732.2
1,796.0
333.3
1,462.7
119.0
569.5
6,051.6
631.2
5,420.4
1,677.2
3,743.1
1,841.3
368.2
1,473.1
65.3
561.7
6,136.3
629.4
5,507.0
1,685.9
3,821.1
1,894.0
392.6
1,501.4
33.6
577.2
6,182.8
644.1
5,538.7
1,697.3
3,841.4
1,927.3
398.0
1,529.3
20.5
578.3
6,135.0
614.7
5,520.3
1,684.9
3,835.4
1,917.3
376.6
1,540.7
8.4
577.5
6,203.8
631.2
5,572.6
1,700.0
3,872.6
1,895.6
403.9
1,491.7
7.0
582.0
6,223.7
661.3
5,562.4
1,703.7
3,858.7
1,935.1
407.5
1,527.6
16.4
560.4
6,170.0
669.9
5,500.1
1,703.1
3,797.0
1,956.6
401.3
1,555.3
49.4
590.1
8,016.1'
8,451.6'
8,457.6
8,509.1
8,521.0
8,519.9
8,641.2
8,708.9
8,638.3
8,688.4
8,735.6
8,766.0
688.4'
771.4'
787.3
787.8
806.6
831.6
865.0
853.0
861.2
854.8
844.1
847.5
Not seasona lly adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
46 Total assets7
47
48
49
50
51
52
53
54
55
56
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
57 Total liabilities
58 Residual (assets less liabilities)5
Footnotes appear on p. 21.
7,485.1
2,071.7
1,154.3
917.4
5,413.4
1,030.2
2,901.5
445.0
2,456.5
715.2
309.5
405.7
253.2
513.3
313.5
321.9
702.8'
7,917.0
2,212.4
1,203.6
1,008.8
5,704.6'
1,124.5
3,038.6
444.8
2,593.9
728.0
306.5
421.5
271.8
541.8
284.1
303.4
779.2'
7,921.2
2,188.5
1,202.1
986.4
5,732.7
1,130.4
3,072.2
446.2
2,626.0
721.9
304.8
417.1
258.8
549.4
291.1
302.8
782.0
7,939.0
2,175.5
1,202.7
972.8
5,763.5
1,135.7
3,109.4
452.1
2,657.3
714.6
306.8
407.7
253.4
550.4
283.3
308.5
790.4
7,998.1
2,189.6
1,211.3
978.3
5,808.5
1,159.4
3,117.3
448.7
2,668.5
724.4
311.8
412.6
256.4
551.0
279.3
290.4
795.2
8,021.1
2,167.6
1,194.5
973.1
5,853.5
1,162.4
3,142.1
451.0
2,691.1
726.9
312.2
414.7
271.0
551.1
304.5
293.7
796.9
8,149.0
2,176.8
1,198.5
978.3
5,972.2
1,173.7
3,287.1
466.1
2,821.0
723.5
308.0
415.5
281.0
506.8
320.6
299.8
810.9
8,227.4
2,210.8
1,210.6
1,000.3
6,016.6
1,180.3
3,303.0
466.7
2,836.3
730.9
312.5
418.4
290.8
511.6
340.4
302.4
809.8
8,206.3
2,204.8
1,218.1
986.7
6,001.5
1,179.8
3,302.8
466.3
2,836.5
725.5
307.1
418.4
292.2
501.2
322.7
298.6
789.9
8,201.9
2,199.4
1,209.8
989.6
6,002.5
1,177.7
3,299.3
467.3
2,832.0
730.3
311.2
419.0
280.8
514.4
348.7
296.1
828.7
8,224.9
2,215.5
1,212.2
1,003.3
6,009.5
1,181.8
3,299.7
465.9
2,833.8
731.6
313.9
417.7
281.5
514.8
348.5
310.1
796.6
8,270.0
2,221.4
1,202.5
1,018.9
6,048.6
1,180.5
3,310.3
467.1
2,843.2
735.7
317.2
418.4
306.5
515.7
341.0
303.3
824.7
8,755.5'
9,216.0'
9,229.4
9,253.5
9,295.1
9,348.2
9,511.3
9,610.7
9,548.2
9,606.1
9,610.8
9,669.7
5,746.8
678.7
5,068.0
1,404.9
3 663 2
1,705.1
369.3
1,335.8
81.5'
510.1
5,977.5
668.6
5,308.9
1,585.8
3 723 1
1,835.6
366.0
1,469.6
73.2'
566.6'
6,012.0
661.4
5,350.6
1,612.1
3,738.5
1,837.8
366.1
1,471.8
67.1
548.0
6,013.3
632.3
5,381.0
1,616.0
3,765.0
1,793.3
347.8
1,445.5
111.1
555.7
6,021.8
646.8
5,375.0
1,641.9
3,733.1
1,789.3
334.2
1,455.1
119.8
571.0
6,041.3
626.0
5,415.3
1,668.3
3,747.0
1,851.3
369.5
1,481.8
69.0
565.4
6,122.4
624.4
5,498.0
1,672.2
3,825.8
1,893.1
393.0
1,500.1
40.0
582.6
6,195.6
650.2
5,545.4
1,685.6
3,859.7
1,922.1
398.8
1,523.4
31.8
588.5
6,154.0
572.2
5,581.8
1,674.5
3,907.4
1,922.1
388.0
1,534.1
16.5
585.7
6,235.2
630.3
5,604.9
1,687.6
3,917.4
1,894.6
406.3
1,488.3
15.5
589.7
6,204.2
691.0
5,513.1
1,692.7
3,820.5
1,926.3
400.3
1,526.0
33.7
576.0
6,191.3
715.2
5,476.1
1,690.5
3,785.6
1,942.5
397.6
1,544.9
60.7
599.7
8,043.5'
8,452.9'
8,464.9
8,473.5
8,501.9
8,526.9
8,638.2
8,738.1
8,678.3
8,735.0
8,740.1
8,794.2
712.0'
763.1'
764.5
780.0
793.2
821.3
873.2
872.6
869.8
871.2
870.7
875.6
16
Federal Reserve Bulletin Statistical Supplement • December 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES
B. Domestically chartered commercial banks
Assets and Liabilities' —Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Nov.
2006
2006
2005
May
June
July
Aug.'
Sept.'
Oct.'
Nov.
Nov. 8
Nov. 15
Nov. 22
Nov. 29
Seasonally 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
6,640.3
1.697.1
1,060.0
637.1
4,943.3
869.6
2,860.6
445.0
2,415.6
711.9
109.3
391.8
260.3
258.0
661.0'
7,023.7'
1,819.8
1,112.9
706.8
5,204.0
931.7
3,018.2
443.8
2,574.4
733.6
111.6
408.8
242.2
257.4
725.2'
7,042.8
1,812.4
1,119.9
692.5
5,230.4
934.5
3,058.5
444.6
2,613.9
728.6
95.1
413.7
249.5
255.1
733.7'
7,090.8
1,826.2
1,129.6
696.6
5,264.6
943.1'
3,095.2'
451.2
2,644.0'
721.8
93.2
411.2
244.1
260.1
744.0'
7,113.7
1,825.4
1,133.0
692.4
5,288.3
957.9
3,094.4
447.2
2,647.2
727.1
96.8
412.0
229.7
247.8
743.7
7,123.7
1,809.3
1,119.6
689.7
5,314.5
957.5
3,112.6
449.1
2,663.5
725.2
111.0
408.1
251.3
245.6
751.7
7,245.9
1,826.5
1,129.6
697.0
5,419.3
963.8
3,254.1
465.0
2,789.1
721.6
112.0
367.8
257.4
251.0
771.0
7,285.6
1,836.0
1,125.0
711.1
5,449.5
968.3
3,259.4
466.6
2,792.8
727.3
120.6
374.0
268.3
244.5
774.5
7,271.9
1,843.8
1,140.7
703.1
5,428.1
966.4
3,255.0
466.0
2,789.1
722.4
118.9
365.4
243.4
251.5
751.2
7,269.2
1,825.4
1,127.3
698.1
5,443.8
967.0
3,252.5
466.7
2,785.7
726.7
120.1
377.6
283.0
231.7
787.9
7,286.4
1,837.2
1,122.6
714.5
5,449.3
970.2
3,258.9
465.8
2,793.1
727.3
116.5
376.3
284.0
254.5
766.7
7,309.9
1,835.4
1,109.1
726.3
5,474.5
968.1
3,270.4
467.7
2,802.7
732.4
126.7
376.9
261.8
237.3
793.0
7,752.5'
8,181.3'
8,214.0'
8,271.6'
8,267.6
8,305.0
8,456.6
8,504.2
8,449.3
8,503.1
8,522.8
8,533.4
5 123 7
660.8
4,462.9
823.1
3,639.8
1,296.8
308.7
988.1
257.0'
387.5
5 306 7
665.4
4,641.3
927.1
3,714.3
1,385.3
315.1
1,070.2
289.0'
440.3'
5 324 0
651.9
4,672.1
946.2'
3,725.8'
1,387.1
316.0
1,071.1
290.1'
435.2'
5 350 2
627.3
4,722.9
956.9'
3,766.0'
1,376.1'
299.5'
1,076.6
318.4'
443.9'
5 336 0
648.3
4,687.7
960.6
3,727.0
1,371.9
286.1
1,085.8
316.5
442.9
5 324 3
620.3
4,704.0
962.6
3,741.4
1,399.4
312.7
1,086.7
309.6
441.7
5 401 7
618.8
4,782.9
963.5
3,819.3
1,431.7
333.3
1,098.4
292.6
462.7
5 436 0
632.9
4,803.1
963.4
3,839.7
1,444.0
333.6
1,110.4
304.0
466.0
5,393.2
602.2
4,791.0
957.3
3,833.7
1,443.4
322.7
1,120.7
277.6
465.9
5,458.1
620.7
4,837.3
966.5
3,870.8
1,416.1
329.2
1,086.9
302.1
470.5
5,470.5
650.2
4,820.3
963.3
3,857.0
1,444.6
337.8
1,106.7
317.1
452.5
5,421.1
659.2
4,761.9
966.6
3,795.3
1,470.8
343.4
1,127.4
320.5
472.6
7,065.0'
7,421.4'
7,436.4'
7,488.6'
7,467.2
7,474.9
7,588.7
7,650.0
7,580.0
7,646.8
7,684.7
7,685.0
687.5'
759.9'
777.6'
783.0'
800.4
830.0
868.0
854.3
869.3
856.3
838.1
848.4
Not seasona lly 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.
6,675.9
1,708.7
1,069.9
638.8
4,967.2
868.2
2,879.4
445.0
2,434.4
1,198.7'
1,235.7'
715.2
309.5
405.7
110.5
393.8
267.4
265.9
661.6'
7,021.8
1,827.8
1,123.4
704.3
5,194.0
937.9
3,016.0
444.8
2,571.2
1,246.0'
1,325.2'
728.0
306.5
421.5
106.5
405.6
239.0
254.8
729.4'
7,036.6
1,815.3
1,122.6
692.7
5,221.2
938.7
3,050.0
446.2
2,603.8
1,265.6'
1,338.2'
721.9
304.8
417.1
96.1
414.5
242.6
251.8
735.8'
7,062.7
1,814.0
1,122.0
692.1
5,248.6'
941.6
3,086.7
452.1
2,634.6
1,282.3'
1,352.3'
714.6
306.8
407.7
92.5
413.3
236.7
255.7
745.3'
7,098.5
1,818.8
1,126.7
692.1
5,279.7
952.3
3,094.8
448.7
2,646.1
1,281.4
1,364.7
724.4
311.8
412.6
95.8
412.3
227.9
237.7
746.4
7,125.6
1,803.0
1,109.9
693.1
5,322.6
953.2
3,119.7
451.0
2,668.7
1,290.8
1,377.9
726.9
312.2
414.7
111.2
411.6
248.0
245.6
754.5
7,249.0
1,816.1
1,117.3
698.8
5,433.0
961.0
3,264.5
466.1
2,798.4
1,398.7
1,399.7
723.5
308.0
415.5
114.7
369.1
259.4
252.8
772.2
7,318.2
1,840.7
1,127.7
713.0
5,477.5
966.7
3,280.7
466.7
2,814.0
1,402.8
1,411.2
730.9
312.5
418.4
122.6
376.6
275.5
251.8
775.1
7 305.4
1,845.3
1,138.7
706.6
5,460.0
965.2
3,280.1
466.3
2,813.8
1,406.6
1,407.2
725.5
307.1
418.4
121.4
367.8
257.7
246.7
756.0
7,305.6
1,830.2
1,127.7
702.5
5,475.5
965.9
3,277.2
467.3
2,810.0
1,400.1
1,409.8
730.3
311.2
419.0
121.9
380.2
289.7
245.5
795.0
7,319.7
1,843.6
1,128.4
715.3
5,476.1
969.3
3,277.8
465.9
2,811.8
1,397.1
1,414.8
731.6
313.9
417.7
118.4
379.0
283.6
259.5
762.3
7,339.8
1,842.1
1,116.7
725.4
5,497.7
965.6
3,287.9
467.1
2,820.8
1,407.9
1,412.9
735.7
317.2
418.4
128.6
379.8
270.6
253.4
788.6
7,803.6'
8,177.8'
8,199.4'
8,233.2'
8,243.1
8,306.2
8,465.1
8,551.9
8,497.0
8,567.0
8,556.3
8,583.5
5,147.1
666.9
4,480.2
823.5
3,656.8
1,292.6
309.5
983.1
261.8'
393.0
5,292.5
657.1
4,635.4
926.5
3,708.9
1,398.3
315.0
1,083.4
287.6'
439.2'
5,323.5
649.8
4,673.7
948.8'
3,724.9'
1,397.5
315.4
1,082.1
286.1'
430.7'
5,334.4
620.7
4,713.7'
958.4'
3,755.3'
1,371.6'
298.8'
1,072.7'
312.5'
437.6'
5,324.3
635.6
4,688.7
960.7
3,728.0
1,365.1
287.0
1,078.2
318.2
445.1
5,322.3
615.0
4,707.2
961.9
3,745.3
1,409.4
314.0
1,095.4
311.8
444.4
5,402.7
614.0
4,788.7
964.6
3,824.1
1,430.8
333.7
1,097.1
295.2
466.0
5,461.1
639.2
4,821.9
963.8
3,858.0
1,438.8
334.4
1,104.5
309.5
472.8
5,428.3
560.1
4,868.2
962.5
3,905.6
1,448.2
334.2
1,114.1
281.7
471.8
5,503.9
619.8
4,884.1
968.5
3,915.7
1,415.1
331.6
1,083.4
305.0
474.8
5,461.7
680.3
4,781.4
962.7
3,818.8
1,435.8
330.6
1,105.2
327.3
463.8
5,449.8
704.3
4,745.5
961.6
3,783.9
1,456.8
339.7
1,117.0
325.7
478.5
7,094.5'
7,417.6'
7,437.8'
7,456.1'
7,452.8
7,487.8
7,594.8
7,682.2
7,630.1
7,698.8
7,688.5
7,710.8
709.1'
760.2'
761.6'
777.1'
790.3
818.4
870.3
869.7
866.9
868.3
867.8
872.7
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
Wednesday figures
Monthly averages
Account
r
Nov.
2006
2006
2005
May'
June'
July
Aug.
Sept.
Oct.'
Nov.
Nov. 8
Nov. 15
Nov. 22
Nov. 29
Seasonally 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 5
32 Cash assets
33 Other assets'"
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Nontransaction
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.
3,677.4
996.1
572.8
40.3
532.5
437.3
95.2
423.3
203.3
220.0
37.8
182.2
2.681.2
513.4
1.424.7
314.2
1.110.5
692.1
418.4
358.3
98.6
3,924.5
1,126.5
635.0
38.9
596.1
513.5
82.7
491.5
241.8
249.7
45.1
204.6
2,798.1
554.0
1,468.9
321.3
1,147.7
707.0
440.7
377.7
100.5
3,918.3
1,123.3
647.7
47.9
599.7
524.4
75.4
475.6
228.5
247.1
43.8
203.3
2,795.0
550.6
1,488.4
322.4
1,165.9
721.0
444.9
372.8
83.6
3,940.7'
1,137.6
657.3
50.2
607.1
537.1
70.0
480.3
228.6
251.7
42.9
208.8
2,803.1'
552.7'
1,506.6'
323.8
1,182.8'
734.1'
448.7'
364.3'
81.8
3,955.5'
1,136.4
660.3
47.2
613.0
542.5
70.6
476.1
224.3
251.8
42.7
209.1
2,819.1'
560.1'
1,505.8'
324.2
1,181.5'
729.2'
452.4'
370.2'
85.6
3,956.4'
1,115.0
644.8
44.3
600.5
527.1
73.4
470.3
221.5
248.8
42.6
206.1
2,841.4'
558.2'
1,520.6'
327.2
1,193.4'
735.5'
457.9'
370.3
99.6'
4,075.6
1,124.1
657.1
51.5
605.6
533.0
72.6
467.0
222.0
245.0
45.2
199.8
2,951.5
566.0
1,658.5
344.7
1,313.8
843.6
470.2
374.0
100.6
4,110.0
1,134.7
654.6
53.3
601.3
529.5
71.8
480.1
233.1
247.0
47.4
199.6
2,975.3
568.2
1,663.6
344.7
1,318.9
843.5
475.4
379.6
108.6
4,094.8
1,133.9
664.1
58.8
605.3
531.5
73.8
469.8
224.0
245.9
46.2
199.6
2,960.8
567.4
1,662.3
344.5
1,317.8
846.0
471.8
376.1
107.1
4,098.3
1,121.1
653.6
51.0
602.6
529.8
72.9
467.4
223.8
243.6
46.5
197.2
2,977.2
566.6
1,665.1
344.8
1,320.3
846.3
474.0
379.6
107.7
4,114.8
1,138.4
653.6
53.3
600.3
529.3
71.0
484.8
236.5
248.3
48.1
200.2
2,976.4
569.6
1,665.2
344.1
1,321.1
841.5
479.5
379.9
104.3
4,129.2
1,142.1
646.1
50.1
596.0
526.2
69.7
496.0
246.3
249.8
48.4
201.3
2,987.0
568.0
1,663.2
345.0
1,318.2
841.6
476.6
382.9
115.1
81.1
17.5
18.9
10.1
80.6
19.9
19.4
10.2
65.2
18.4
19.5
10.1
64.8
17.0'
19.6
10.1
68.7
16.9
20.4
10.1
82.5
17.1
20.8
10.1
84.4
16.2
23.4
10.3
89.9
18.7
23.5
10.5
88.7
18.4
23.5
10.4
89.7
18.1
23.4
10.5
84.4
19.9
23.5
10.5
96.6
18.6
23.5
10.6
19.2
144.0
94.2
165.2
18.4
154.9
94.0
141.3
23.9
151.5
94.7
144.2
23.9
149.6
94.5
142.6'
23.3
149.7
94.0
131.9'
24.5
143.2
94.0
155.0
24.8
101.0
92.8
162.4
28.2
100.6
92.5
160.3
25.2
96.0
92.7
135.5
28.4
103.3
92.5
170.4
31.8
99.2
92.4
175.2
28.0
103.4
92.4
158.3
100.9
64.3
150.4
459.7
81.3
59.9
148.6
480.0
83.2
60.9
149.2
481.7
82.4
60.2
148.6'
489.9'
73.3
58.6
137.3
488.5'
93.8
61.2
137.7'
501.6'
88.6
73.8
143.3
508.8
91.1
69.2
138.1
500.3
67.1
68.4
144.1
491.9
103.4
67.1
126.4
493.9
101.2
74.0
144.5
507.9
92.3
66.0
135.2
508.3
4,419.9
4,662.3
4,661.5
4,689.9r
4,681.6r
4,719.1'
4,856.8
4,875.6
4,833.1
4,856.0
4,909.1
4,898.1
2.603.9
308.5
2.295.3
386.5
1,908.8
781.3
138.2
643.1
243.5
318.0
2,697.0
317.2
2,379.9
456.1
1,923.7
850.9
148.3
702.6
269.8
367.2
2,691.0
313.7
2 377.3
464.4
1,912.9
843.8
150.0
693.7
271.7
363.1
2,693.6'
295.8
2 397.7'
470.6'
1,927.1'
836.5
137.4
699.1'
298.0'
371.6'
2,679.8'
313.3'
2,366.5'
466.5'
1,900.0'
844.0
136.0
708.0
297.2'
368.2'
2,683.7'
300.9'
2,382.9'
468.7'
1,914.2'
864.0'
150.3
713.7
289.3'
365.3'
2,752.9
301.7
2,451.2
475.8
1,975.4
877.8
147.4
730.4
271.8
379.4
2,745.5
306.2
2,439.3
468.6
1,970.7
893.2
152.5
740.7
282.8
382.6
2,722.8
284.5
2,438.3
463.3
1,975.0
890.7
142.1
748.6
257.3
383.3
2,751.1
292.5
2,458.6
469.5
1,989.1
869.8
150.4
719.4
281.1
386.5
2,774.8
321.8
2,452.9
469.1
1,983.8
894.4
155.8
738.7
296.6
370.1
2,729.4
329.5
2,399.9
472.0
1,927.9
916.8
160.6
756.3
297.7
388.4
3,946.7
4,184.9
4,169.6
4,199.6'
4,189.3'
4,202.4'
4,281.9
4,304.2
4,254.1
4,288.6
4,336.0
4,332.3
473.2
477.4
491.8
490.3
492.4'
516.7'
574.8
571.4
579.1
567.4
573.2
565.8
18
Federal Reserve Bulletin Statistical Supplement • December 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities' —Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Nov.
2006
2006
2005
May'
June'
July'
Aug.
Sept.'
Oct.'
Nov.
Nov. 8
Nov. 15
Nov. 22
Nov. 29
Not seasonally 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 s
80 Cash assets
81 Other assets'"
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.
3,697.4'
1,009.1
584.1
42.2
541.9'
445.7
96.1
425.0
204.1
220.9
38.0
182.9
2,688.3'
513.0'
1,429.8'
314.3
1,115.4'
694.6'
420.8'
358.0
116.3
241.7
99.7'
3,931.3
1,136.3
647.3
40.9
606.4
522.4
84.0
489.0
240.6
248.4
44.8
203.5
2,795.0
557.5
1,472.0
322.2
1,149.8
709.5
440.3
375.4
116.2
259.2
95.5
3,922.3
1,125.2
649.5
48.0
601.4
525.5
75.9
475.8
228.5
247.2
43.9
203.4
2,797.0
553.1
1,489.2
323.7
1,165.6
722.1
443.5
370.1
115.5
254.6
84.6
3,923.0
1,127.0
651.2
49.0
602.3
532.5
69.8
475.8
226.4
249.3
42.5
206.8
2,796.0
551.4
1,504.4
324.6
1,179.9
733.7
446.1
360.5
115.5
245.1
81.3
3,943.4'
1,132.6
656.8
46.5
610.3
540.0
70.3
475.8
224.2
251.6
42.6
209.0
2,810.8'
556.7'
1,505.7'
325.5
1,180.2'
729.5'
450.7'
368.1
118.8
249.4'
84.6
3,954.6
1,112.0
638.3
43.2
595.1
522.4
72.6
473.7
223.1
250.6
43.0
207.6
2,842.6
556.1
1,521.7
328.4
1,193.3
736.1
457.3
370.9
119.8
251.1
100.0
4,071.0
1,115.9
647.1
49.0
598.1
526.8
71.3
468.8
222.8
245.9
45.4
200.5
2,955.1
564.5
1,661.2
345.2
1,316.0
844.0
472.0
373.6
120.3
253.3
103.4
4,125.8
1,141.2
659.2
55.8
603.3
530.8
72.5
482.0
234.0
248.0
47.6
200.4
2,984.7
567.7
1,669.7
344.9
1,324.9
846.7
478.2
379.5
123.8
255.7
110.3
4,111.9
1,139.0
665.6
60.8
604.9
530.7
74.2
473.4
225.6
247.7
46.6
201.1
2,972.9
567.0
1,671.2
344.5
1,326.7
850.8
475.9
376.5
120.5
255.9
109.2
4,116.0
1,128.3
656.4
53.8
602.6
529.1
73.5
471.9
225.8
246.1
47.2
198.9
2,987.7
566.4
1,672.5
345.2
1,327.3
849.9
477.4
379.7
123.6
256.1
109.2
4,129.8
1,145.7
660.1
56.8
603.4
531.7
71.7
485.5
236.9
248.6
48.0
200.6
2,984.2
569.8
1,668.9
344.6
1,324.3
843.2
481.1
379.7
124.5
255.1
105.9
4,144.0
1,149.5
654.4
52.8
601.6
530.9
70.8
495.1
245.9
249.2
48.2
201.0
2,994.5
566.8
1,668.0
345.0
1,323.0
844.3
478.7
382.2
126.4
255.8
116.7
82.0
17.7
18.9
10.1
76.7
18.9
19.4
10.1
66.1
18.5
19.5
10.1
64.2
17.1
19.6
10.2
67.6
17.0
20.4
10.2
82.6
17.4
20.8
10.1
86.5
16.8
23.4
10.4
91.4
18.9
23.5
10.5
90.7
18.5
23.5
10.5
91.0
18.2
23.4
10.5
85.8
20.0
23.5
10.5
97.8
18.9
23.5
10.6
19.2
145.5
94.2
166.6
18.4
152.8
93.8
143.7
23.9
152.2
94.3
143.0
23.9
150.8
93.9
141.1
23.3
148.6
93.2
132.4
24.5
145.1
93.4
153.7
24.8
101.2
92.7
162.1
28.2
102.6
92.5
161.3
25.2
97.2
92.5
143.8
28.4
105.2
92.5
169.4
31.8
101.7
92.5
169.6
28.0
106.1
92.5
161.6
101.7
64.9
154.3
460.4'
82.7
61.0
147.4
484.2
82.6
60.4
146.8
483.8
81.6
59.5
144.6
491.2
73.6'
58.8
128.9
491.2'
93.0
60.7
136.2
504.4
88.4
73.7
143.7
510.0
91.5
69.8
141.8
501.0
71.2
72.6
139.2
496.7
102.8
66.6
134.6
501.0
98.0
71.6
147.4
503.5
94.2
67.4
144.3
503.9
4,445.9'
4,674.6
4,663.8
4,668.2
4,664.2'
4,717.2
4,853.8
4,896.8
4,858.4
4,887.9
4,917.1
4,920.9
2,615.0'
311.5'
2,303.6'
386.9'
1,916.7'
777.0
139.0
638.0
248.3'
323.6
2,685.9
312.6
2,373.3
455.6
1,917.7
863.9
148.2
715.7
268.4
366.1
2,692.2
313.1
2,379.0
466.9
1,912.1
854.2
149.4
704.8
267.7
358.6
2,686.4
291.4
2,395.0
472.1
1,922.8
832.0
136.7
695.3
292.1
365.3
2,671.2'
303.3'
2,367.9'
466.6'
1,901.4'
837.3'
136.9
700.4'
299.0'
370.4'
2,682.4
296.8
2,385.6
468.0
1,917.5
874.0
151.6
722.4
291.5
368.1
2,753.6
296.9
2,456.7
476.9
1,979.8
877.0
147.9
729.1
274.4
382.7
2,758.0
309.6
2,448.3
469.0
1,979.3
888.1
153.3
734.8
288.4
389.3
2 739.7
255.9
2,483.8
468.6
2,015.2
895.6
153.5
742.0
261.4
389.1
2,777.2
293.5
2,483.7
471.5
2,012.2
868.8
152.8
715.9
284.1
390.7
2,765.9
342.4
2,423.5
468.5
1,955.0
885.6
148.6
737.1
306.7
381.4
2,746.2
355.2
2,391.0
467.0
1,924.0
902.8
156.8
745.9
303.0
394.4
3,964.0'
4,184.2
4,172.7
4,175.8
4,177.9'
4,216.0
4,287.8
4,323.8
4,285.8
4,320.8
4,339.7
4,346.3
481.9'
490.3
491.1
492.4
486.3'
501.2
566.1
573.0
572.6
567.1
577.4
574.6
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
D. Small domestically chartered commercial banks
19
Assets and Liabilities1—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
r
Nov.
2006
2006
2005
May'
June'
July'
Aug.'
Sept.'
Oct.'
Nov.
Nov. 8
Nov. 15
Nov. 22
Nov. 29
Seasonally 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
2,961.4
699.4
485.6
213.8
2,262.0
356.2
1,435.9
130.8
1,305.1
353.7
10.7
105.5
95.1
107.6
201.3
3,097.7
691.8
476.5
215.4
2,405.9
377.7
1,549.3
122.5
1,426.7
355.9
11.2
111.9
101.0
108.8
245.2
3,125.5
690.1
473.1
216.9
2,435.4
383.8
1,570.2
122.2
1,447.9
355.8
11.6
114.0
105.4
105.9
252.0
3,150.1
688.7
472.4
216.3
2,461.5
390.4
1,588.6
127.4
1,461.2
357.6
11.4
113.5
101.5
111.5
254.1
3,156.9
687.7
471.5
216.3
2,469.2
397.9
1,588.6
123.0
1,465.6
357.0
11.2
114.5
97.8
110.4
255.1
3,165.3
692.2
472.8
219.4
2,473.1
399.3
1,592.0
121.9
1,470.1
354.9
11.4
115.5
96.3
107.9
250.1
3,170.4
702.6
472.5
230.0
2,467.8
397.8
1,595.5
120.3
1,475.3
347.6
11.3
115.5
95.0
107.7
262.2
3,174.4
700.2
469.2
231.0
2,474.2
400.0
1,595.8
121.9
1,473.9
347.7
12.0
118.7
108.1
106.4
274.2
3,174.9
707.7
474.4
233.2
2,467.3
398.9
1,592.7
121.4
1,471.3
346.3
11.8
117.6
107.9
107.4
259.3
3,169.7
703.1
472.5
230.6
2,466.6
400.4
1,587.3
122.0
1,465.4
347.1
12.3
119.4
112.5
105.3
293.9
3,171.5
698.7
468.9
229.8
2,472.8
400.6
1,593.7
121.7
1,472.0
347.4
12.3
118.9
108.9
110.0
258.8
3,179.6
692.1
461.8
230.3
2,487.4
400.1
1,607.2
122.7
1,484.5
349.5
11.6
119.0
103.6
102.1
284.6
3,331.0
3,517.6
3,553.5
3,581.8
3,584.7
3,583.9
3,600.0
3,627.5
3,614.0
3,645.9
3,613.6
3,634.1
2,519.8
352.3
2,167.6
436.6
1,731.0
515.5
170.5
345.1
13.5
69.5
2,609.7
348.2
2,261.5
470.9
1,790.6
534.5
166.8
367.6
19.2
73.1
2,633.0
338.2
2,294.8
481.9
1,812.9
543.3
166.0
377.3
18.4
72.1
2,656.6
331.5
2,325.2
486.3
1,838.9
539.6
162.1
377.5
20.4
72.4
2,656.2
335.0
2,321.2
494.1
1,827.1
527.8
150.1
377.8
19.3
74.7
2,640.6
319.5
2,321.1
493.9
1,827.2
535.4
162.4
373.0
20.3
76.3
2,648.8
317.1
2,331.7
487.7
1,844.0
553.9
185.8
368.0
20.8
83.3
2,690.5
326.7
2,363.8
494.8
1,869.0
550.7
181.0
369.7
21.1
83.4
2,670.4
317.7
2,352.6
493.9
1,858.7
552.6
180.6
372.0
20.3
82.7
2,706.9
328.2
2,378.7
497.0
1,881.7
546.3
178.8
367.5
21.0
84.0
2,695.7
328.3
2,367.3
494.2
1,873.2
550.1
182.1
368.1
20.6
82.4
2,691.7
329.7
2,362.0
494.6
1,867.4
554.0
182.9
371.1
22.8
84.2
3,118.3
3,236.4
3,266.8
3,289.0
3,278.0
3,272.6
3,306.7
3,345.8
3,326.0
3,358.2
3,348.8
3,352.7
212.7
281.1
286.7
292.8
306.8
311.3
293.2
281.7
288.0
287.7
264.8
281.4
Not seasona lly 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.
2,978.5
699.6
485.8
213.8
2,278.9
355.3
1,449.6
130.7
1,319.0
504.1
814.9
357.2
193.2
163.9
10.9
106.0
100.8
111.6
201.3
3,090.4
691.5
476.1
215.4
2,399.0
380.4
1,544.0
122.6
1,421.4
536.5
884.9
352.6
190.4
162.2
11.0
111.0
95.3
107.4
245.2
3,114.3
690.1
473.2
216.9
2,424.2
385.6
1,560.8
122.5
1,438.2
543.5
894.8
351.8
189.3
162.5
11.5
114.6
99.6
105.0
252.0
3,139.7
687.0
470.7
216.3
2,452.6
390.2
1,582.2
127.5
1,454.7
548.6
906.1
354.0
191.4
162.7
11.2
114.9
95.6
111.2
254.1
3,155.1
686.2
469.9
216.3
2,468.9
395.6
1,589.1
123.2
1,465.9
551.9
914.0
356.3
193.0
163.3
11.2
116.7
95.5
108.8
255.1
3,171.0
691.0
471.6
219.4
2,480.0
397.1
1,598.0
122.6
1,475.3
554.7
920.6
356.0
192.3
163.6
11.3
117.7
94.3
109.3
250.1
3,178.0
700.2
470.2
230.0
2,477.8
396.5
1,603.3
120.9
1,482.4
554.6
927.8
350.0
187.8
162.2
11.3
116.7
97.3
109.1
262.2
3,192.4
699.5
468.5
231.0
2,492.9
399.0
1,610.9
121.8
1,489.1
556.1
933.0
351.4
188.7
162.6
12.3
119.2
114.2
109.9
274.2
3,193.5
706.3
473.1
233.2
2,487.1
398.2
1,608.9
121.8
1,487.1
555.8
931.3
349.0
186.5
162.5
12.3
118.8
113.9
107.5
259.3
3,189.6
701.9
471.2
230.6
2,487.7
399.4
1,604.8
122.1
1,482.7
550.3
932.4
350.6
187.7
163.0
12.7
120.2
120.3
110.8
293.9
3,189.9
698.0
468.2
229.8
2,491.9
399.5
1,608.9
121.3
1,487.6
553.9
933.7
351.9
189.4
162.5
12.5
119.1
114.0
112.1
258.8
3,195.8
692.6
462.3
230.3
2,503.2
398.9
1,619.9
122.1
1,497.8
563.6
934.2
353.4
190.8
162.7
11.9
119.1
109.0
109.0
284.6
3,357.8
3,503.2
3,535.7
3,565.1
3,578.9
3,589.0
3,611.3
3,655.1
3,638.6
3,679.2
3,639.2
3,662.6
2,532.1
355.4
2,176.6
436.6
1,740.0
515.5
170.5
345.1
13.5
69.5
2,606.6
344.5
2,262.1
470.9
1,791.2
534.5
166.8
367.6
19.2
73.1
2,631.4
336.7
2,294.7
481.9
1,812.8
543.3
166.0
377.3
18.4
72.1
2,648.0
329.3
2,318.7
486.3
1,832.4
539.6
162.1
377.5
20.4
72.4
2,653.1
332.3
2,320.7
494.1
1,826.6
527.8
150.1
377.8
19.3
74.7
2,639.9
318.2
2,321.6
493.9
1,827.8
535.4
162.4
373.0
20.3
76.3
2,649.1
317.1
2,331.9
487.7
1,844.3
553.9
185.8
368.0
20.8
83.3
2,703.1
329.5
2,373.5
494.8
1,878.7
550.7
181.0
369.7
21.1
83.4
2,688.7
304.3
2,384.4
493.9
1,890.5
552.6
180.6
372.0
20.3
82.7
2,726.7
326.2
2,400.5
497.0
1,903.5
546.3
178.8
367.5
21.0
84.0
2,695.7
337.8
2,357.9
494.2
1,863.8
550.1
182.1
368.1
20.6
82.4
2,703.6
349.1
2,354.4
494.6
1,859.8
554.0
182.9
371.1
22.8
84.2
3,130.5
3,233.4
3,265.2
3,280.3
3,274.9
3,271.9
3,307.0
3,358.4
3,344.3
3,378.0
3,348.8
3,364.5
227.2
269.9
270.5
284.7
304.0
317.2
304.2
296.7
294.4
301.2
290.4
298.1
20
Federal Reserve Bulletin Statistical Supplement • December 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES
E. Foreign-related institutions
Assets and Liabilities' —Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Nov.
2006
2006
2005
May
June
r
July'
Aug.'
Sept.'
Oct.'
Nov.
Nov. 8
Nov. 15
Nov. 22
Nov. 29
Seasonally 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
809.6
363.0
84.3
278.6
446.6
163.7
22.1
138.8
122.0
46.0
55.3
41.6
898.7
384.6
80.1
304.5
514.1
186.6
22.7
169.5
135.4
45.1
49.3
49.2
884.9
373.2
79.5
293.7
511.7
192.1
22.2
164.1
133.3
48.5
51.7
46.2
880.1
361.4
80.7
280.7
518.7
194.7
22.7
164.1
137.2
46.6
53.2
45.9
907.5
370.8
84.6
286.2
536.7
207.7
22.5
166.8
139.8
51.4
52.3
49.3
900.3
364.6
84.6
280.0
535.7
210.7
22.4
162.8
139.8
56.5
47.2
43.1
903.2
360.7
81.2
279.5
542.5
215.6
22.6
163.6
140.7
61.3
46.2
39.5
908.0
370.1
82.8
287.3
537.9
215.9
22.3
163.4
136.3
64.9
50.1
35.2
902.5
359.5
79.4
280.0
543.0
217.6
22.7
167.6
135.1
65.0
52.0
31.2
898.6
369.2
82.1
287.1
529.4
214.4
22.0
157.6
135.4
59.0
49.7
33.4
904.1
371.8
83.8
288.0
532.3
214.3
21.9
159.3
136.8
64.9
50.4
38.0
923.8
379.2
85.8
293.4
544.5
216.6
22.4
168.5
137.1
70.5
48.8
37.6
952.0
1,041.7
1,030.8
1,025.3
1,060.0
1,046.5
1,049.6
1,057.6
1,050.2
1,040.2
1,056.9
1,080.1
609.7
12.0
597.7
412.5
59.8
352.8
-184.6
113.6
673.1
11.8
661.3
437.2
51.0
386.2
-210.5
130.4
677.8
11.8
666.0
440.3
50.6
389.7
-216.2
119.2
677.6
11.8
665.7
421.7
48.9
372.7
-198.7
119.9
700.6
11.3
689.2
424.1
47.2
376.9
-197.5
126.5
727.2
10.9
716.4
441.9
55.5
386.4
-244.2
120.1
734.6
10.5
724.1
462.3
59.3
403.0
-258.9
114.5
746.8
11.2
735.6
483.3
64.4
418.9
-283.5
112.3
741.9
12.5
729.3
473.9
53.8
420.1
-269.1
111.6
745.7
10.5
735.2
479.5
74.7
404.8
-295.1
111.5
753.2
11.1
742.1
490.5
69.7
420.8
-300.8
107.9
748.8
10.7
738.2
485.7
57.8
427.9
-271.1
117.5
951.1
1,030.3
1,021.2
1,020.5
1,053.8
1,045.0
1,052.5
1,058.9
1,058.3
1,041.6
1,050.9
1,081.0
.9
11.5
9.6
4.8
6.3
1.6
-2.9
-1.3
-8.1
-1.4
6.0
-.8
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 assets5
Other assets'"
40 Total assets7
41
42
43
44
45
46
47
48
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
49 Total liabilities
50 Residual (assets less liabilities)5
Footnotes appear on p. 21.
809.2
363.0
84.3
25.9
58.5
278.6
163.3
115.4
446.3
162.0
22.1
142.6
119.5
46.0
55.9
41.2
895.2
384.6
80.1
26.9
53.3
304.5
192.1
112.4
510.6
186.6
22.7
165.3
136.1
45.1
48.6
49.7
884.7
373.2
79.5
25.7
53.8
293.7
183.1
110.6
511.5
191.7
22.2
162.8
134.9
48.5
51.1
46.3
876.3
361.4
80.7
26.2
54.5
280.7
180.8
99.9
514.9
194.1
22.7
160.9
137.2
46.6
52.8
45.1
899.6
370.8
84.6
27.7
57.0
286.2
183.9
102.3
528.8
207.1
22.5
160.6
138.6
51.4
52.6
48.9
895.5
364.6
84.6
27.6
56.9
280.0
178.8
101.2
530.9
209.2
22.4
159.8
139.5
56.5
48.2
42.4
899.9
360.7
81.2
24.0
57.3
279.5
178.2
101.2
539.2
212.7
22.6
166.3
137.7
61.3
46.9
38.7
909.2
370.1
82.8
25.4
57.5
287.3
182.1
105.1
539.1
213.6
22.3
168.2
135.0
64.9
50.6
34.7
900.9
359.5
79.4
22.3
57.1
280.0
178.4
101.6
541.5
214.6
22.7
170.8
133.4
65.0
51.9
33.9
896.2
369.2
82.1
25.0
57.1
287.1
179.7
107.4
527.0
211.9
22.0
158.9
134.2
59.0
50.7
33.8
905.2
371.8
83.8
26.8
57.0
288.0
181.7
106.3
533.4
212.5
21.9
163.1
135.8
64.9
50.6
34.3
930.2
379.2
85.8
27.1
58.7
293.4
187.9
105.5
551.0
214.8
22.4
177.9
135.9
70.5
49.9
36.1
951.9
1,038.2
1,030.0
1,020.3
1,052.0
1,042.0
1,046.3
1,058.8
1,051.2
1,039.1
1,054.5
1,086.2
599.7
11.9
587.8
412.5
59.8
352.8
-180.2
117.1
685.1
11.5
673.5
437.2
51.0
386.2
-214.4
127.5
688.5
11.6
676.9
440.3
50.6
389.7
-219.0
117.3
679.0
11.6
667.4
421.7
48.9
372.7
-201.4
118.1
697.5
11.2
686.3
424.1
47.2
376.9
-198.4
125.8
719.0
10.9
708.1
441.9
55.5
386.4
-242.8
121.0
719.7
10.4
709.3
462.3
59.3
403.0
-255.2
116.6
734.6
11.0
723.5
483.3
64.4
418.9
-277.7
115.8
725.7
12.0
713.7
473.9
53.8
420.1
-265.2
113.9
731.4
10.6
720.8
479.5
74.7
404.8
-289.6
114.9
742.5
10.8
731.7
490.5
69.7
420.8
-293.6
112.2
741.5
10.9
730.6
485.7
57.8
427.9
-265.0
121.1
949.0
1,035.3
1,027.1
1,017.4
1,049.1
1,039.1
1,043.4
1,055.9
1,048.3
1,036.2
1,051.6
1,083.3
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
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
Nov.
2006
2006
2005
May
June
July
Aug.
Sept.
Oct.
Nov.
Nov. 8
Nov. 15
Nov. 22
Nov. 29
Not seasona ly 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
91.4
123.4
111.9
110.8
108.5
104.7
103.7
106.5
102.9
102.0
107.5
111.8
80.6
550.6
416.0
134.6
110.6
615.5
483.4
132.1
99.6
619.5
485.1
134.4
96.1
625.9
491.6
134.3
92.3
634.6'
501.2
133.3
91.0
613.2
483.3
129.9
91.5
614.1
484.0
130.1
90.2
616.4
494.1
122.3
87.2
616.8
491.7
125.1
85.1
614.0
491.6
122.4
91.5
617.0
494.3
122.7
95.4
616.7
497.5
119.2
-11.4'
90.7'
68.5'
22.1
3.1
-21.0'
99.5'
71.1'
28.4
3.0
-22.1
100.1'
70.5'
29.6
2.9
-19.8'
101.8'
69.3'
32.5
2.6'
-10.3'
100.6'
68.6'
32.0
2.4
-3.1'
102.5'
68.7'
33.8
2.3
-6.4'
101.8'
67.1
34.7'
2.2'
-4.9
100.9
66.6
34.3
2.2
-5.8
101.7
67.3
34.5
2.2
-5.6
100.6
66.3
34.4
2.2
-4.8
100.4
66.3
34.2
2.2
-4.0
100.7
66.6
34.1
2.2
327.8
262.3
258.0
4.3
325.9
268.9
264.7
4.1
325.8'
273.7
269.7
4.0
324.2
273.6'
269.7'
3.9
326.0
275.8'
272.3'
3.5
330.2
278.7'
275.2'
3.5
332.6
282.8
279.3
3.5
331.2
285.3
281.6
3.7
334.5
284.8
281.1
3.7
332.9
285.3
281.6
3.7
331.6
284.8
281.1
3.7
326.6
286.5
282.8
3.7
71.9
78.2
71.0
71.4'
72.8'
69.1'
67.6'
67.1
64.6
64.7
66.0
72.1
78.1
82.8
76.1
76.8
78.9
76.0'
75.6'
73.6
72.1
71.7
72.4
77.3
Small domestically chartered
commercial banks, adjusted for
mergers
10
11 Mortgage-backed securities12
12 Securitized consumer loans
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
NOTES: Tables 1.26, 1.27, and 1.28 have been revised to reflect changes in the Board's H.8
statistical release, "Assets and Liabilities of Commercial Banks in the United States," which
is available at www.federalreserve.gov/releases. Table 1.27, "Assets and Liabilities of Large
Weekly Reporting Commercial Banks," and table 1.28, "Large Weekly Reporting U.S.
Branches and Agencies of Foreign Banks," are no longer being published in the Statistical
Supplement. Instead, abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data are both mergeradjusted and break-adjusted. In addition, data from large weekly reporting U.S. branches and
agencies of foreign banks have been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are break-adjusted.
1. Covers the following types of institutions in the fifty states and the District of Columbia:
domestically chartered commercial banks that submit a weekly report of condition (large
domestic); other domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and Agreement corporations (foreign-related
institutions). Excludes international banking facilities. Data are Wednesday values or pro rata
averages of Wednesday values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on weekly samples and on
quarter-end condition reports. Data are adjusted for breaks caused by reelassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. 17-19 are adjusted to remove
the estimated effects of mergers between these two groups. The adjustment for mergers
changes past levels to make them comparable with current levels. Estimated quantities of
balance sheet items acquired in mergers are removed from past data for the bank group that
contained the acquired bank and put into past data for the group containing the acquiring
bank. Balance sheet data for acquired banks are obtained from Call Reports, and a ratio
procedure is used to adjust past levels.
2. Treasury securities are liabilities of the U.S. Treasury. Agency securities are liabilities of
U.S. government agencies and U.S. government-sponsored enterprises.
3. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks
in the United States, all of which are included in "Interbank loans."
4. Consists of reverse RPs with brokers and dealers and loans to purchase and carry
securities.
5. Includes vault cash, cash items in process of collection, balances due from depository
institutions, and balances due from Federal Reserve Banks.
6. Excludes the due-from position with related foreign offices, which is included in "Net
due to related foreign offices."
7. Excludes unearned income, reserves for losses on loans and leases, and reserves for
transfer risk. Loans are reported gross of these items.
8. This balancing item is not intended as a measure of equity capital for use in capital
adequacy analysis. On a seasonally adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total liabilities.
9. Fair value of derivative contracts (interest rate, foreign exchange rate, other commodity
and equity contracts) in a gain/loss position, as determined under FASB Interpretation No. 39.
The fair market value of derivative contracts in a gain position is included in "Other
securities, trading account." The fair value of derivative contracts in a loss position is
included in "Other liabilities."
10. Includes mortgage-backed securities issued by U.S. government agencies, U.S.
government-sponsored enterprises, and private entities.
11. Difference between fair value and historical cost for securities classified as availablefor-sale under FASB Statement No. 115. Data are reported net of tax effects. Data shown are
restated to include an estimate of these tax effects.
12. Total amount outstanding.
22
1.32
Federal Reserve Bulletin Statistical Supplement • December 2006
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2006
Item
1 All issuers
2 Financial companies'
3 Nonfinancial companies2
2001
2002
2003
2004
2005
Mar.
Apr.
May
June
July
Aug.
1 442,842
1,341,226
1,260,745
1,375,717
1,631,009
1,705,078
1,734,611
1,765,365
1,775,915
1,796,699
1,840,587
563,428
216,448
522,863
147,689
519,731
103,982
595,249
119,727
667,321
132,207
692,513
134,245
699,320
140,406
718,125
137,141
704,548
146,789
715,193
142,738
735,897
143,567
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
Rate
Jan
4
Feb. 1
Mar 21
Apr. 19
May 16
June 28
Aug. 22
Sept. 18
Oct. 3
Nov. 7
Dec. 12
9 00
8.50
8 00
7.50
7.00
6.75
6.50
6.00
5.50
5.00
4.75
2002—Nov. 7
4.25
2003—June 27
4.00
2004—June
Aug.
Sept.
Nov.
Dec.
30
10
21
10
14
4.25
4.50
4.75
5.00
5.25
2005—Feb.
Mar.
May
June
Aug.
Sept.
Nov.
Dec.
2
22
3
30
9
20
1
13
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
2006—Jan.
Mar.
May
June
31
28
10
29
7.50
7.75
8.00
8.25
Period
Average
rate
2002
2003
2004
2005
4.67
4.12
4.34
6.19
2003—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.25
4.25
4.25
4.25
4.25
4.22
4.00
4.00
4.00
4.00
4.00
4.00
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
2004—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
4.00
4.00
4.00
4.00
4.00
4.01
4.25
4.43
4.58
4.75
4.93
5.15
Period
Average
rate
2005—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
5.25
5.49
5.58
5.75
5.98
6.01
6.25
6.44
6.59
6.75
7.00
7.15
2006—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
7.26
7.50
7.53
7.75
7.93
8.02
8.25
8.25
8.25
8.25
Report. Data in this table also appear in the Board's H.I 5 (519) weekly statistical release,
available on the Board's website, www.federalreserve.gov/releases.
Financial Markets
1.35
INTEREST RATES
23
Money and Capital Markets
Percent per year; figures are averages of business day data unless otherwise noted
2006
2006, week ending
June
July
Aug.
Sept.
Sept. 1
Sept. 8
Sept. 15
Sept. 22
Sept. 29
MONEY MARKET INSTRUMENTS
1.13
n.a.
1.35
2.34
3.22
4.19
4.99
6.02
5.24
6.25
5.25
6.25
5.25
6.25
5.25
6.25
5.25
6.25
5.23
6.25
5.24
6.25
5.27
6.25
1.11
1.11
1.38
1.40
1 41
3.22
3.23
3 42
5.12
5.13
5 29
5.24
5.26
5.22
5.21
5 21
5.21
5.19
5 21
5.20
5.20
5 21
5.21
5.20
5 21
5.20
5.20
5 21
5.20
5.19
5 21
5.22
5.19
1.12
1.13
1.13
1.41
1.46
1.52
3.27
3.36
3.44
5.16
5.21
5.25
5.28
5.34
5.37
5.26
5.27
5.29
5.24
5.25
5.25
5.24
5.25
5.26
5.24
5.25
5.26
5.25
5.25
5.26
5.25
5.25
5.25
5.23
5.23
5.22
1.15
1.15
1 17
1.45
1.57
1 74
3.34
3.51
3 73
5.22
5.35
5 46
5.34
5.46
5 54
5.31
5.38
5 44
5.29
5.34
5 37
5.29
5.35
5 41
5.29
5.34
5 38
5.29
5.35
5 39
5.29
5.34
5 37
5.29
5.32
5 32
12 Eurodollar deposits, 3-month3>s
1.14
1.55
3.51
5.38
5.49
5.41
5.38
5.39
5.39
5.37
5.38
5.36
U.S. Treasury bills
Secondary market3-5
13 4-week
14
3-month
15
6-month
1.00
1.01
1.05
1.24
1.37
1.58
2.94
3.15
3.39
4.62
4.79
4.97
4.80
4.95
5.06
5.08
4.96
4.97
4.68
4.81
4.89
5.06
4.93
4.94
4.81
4.84
4.92
4.70
4.81
4.92
4.64
4.81
4.88
4.53
4.76
4.82
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
5 04
3.62
3.85
3.93
4.05
4.15
4.29
4 64
5.16
5.12
5.09
5.07
5.08
5.11
5 29
5.22
5.12
5.07
5.04
5.05
5.09
5 25
5.08
4.90
4.85
4.82
4.83
4.88
5 08
4.97
4.77
4.69
4.67
4.68
4.72
4 93
5.03
4.83
4.75
4.73
4.73
4.76
4 98
5.02
4.81
4.75
4.73
4.74
4.79
5 01
5.02
4.83
4.76
4.73
4.74
4.79
4 99
4.97
4.77
4.69
4.66
4.67
4.71
4 91
4.90
4.67
4.59
4.56
4.56
4.60
4 81
4.52
5.20
4.75
4.50
5.09
4.68
4.28
4.86
4.40
4.35
4.96
4.60
4.41
5.05
4.61
4.10
4.72
4.39
3.87
4.47
4.27
3.99
4.60
4.30
3.92
4.53
4.34
3.89
4.49
4.30
3.84
4.45
4.21
3.82
4.42
4.23
6.24
6.00
5.57
6.29
6.26
6.09
5.92
5.99
6.00
5.98
5.89
5.80
5.66
6.14
6.38
6 76
5.63
5.91
6.08
6 39
5.23
5.37
5.59
6 06
5.89
6.11
6.39
6 78
5.85
6.08
6.36
6 76
5.68
5.91
6.19
6 59
5.51
5.75
5.98
6 43
5.57
5.80
6.10
6 50
5.59
5.84
6.08
6 52
5.58
5.82
6.05
6 49
5.49
5.73
5.95
6 40
5.39
5.63
5.84
6 32
1.72
1.64
1.73
1.88
1.90
1.86
1.86
1.84
1.86
1.84
1.87
1.87
2 Discount window primary credit2-4
paper3-5-6
Commercial
3
4
5
Nonfinancial
1-month
2-month
3-month
6
Financial
1-month
8
3-month
9
10
Certificates of deposit, secondary market3-1
1-month
3-month
U.S. TREASURY NOTES AND BONDS
Constant maturities'*
17
2-year
19
5-year
21
10-year
STATE AND LOCAL NOTES AND BONDS
Moody's series^
23 Aaa
24 Baa
25 Bond Buyer series"
CORPORATE BONDS
26 Seasoned issues, all industries12
Rating group
27 Aaa13
28 Aa
29 A
MEMO
Dividend-price ratiom
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 2006
1.36
STOCK MARKET
Selected Statistics
2006
Indicator
2003
2004
2005
Mar.
Feb.
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)
2
Industrial
3
Transportation
4
Utility
5
Finance
5,456.00
634.11
437.37
238.05
566.74
6,614.10
741.19
521.11
271.45
657.07
7,351.19
n.a.
n.a.
n.a.
n.a.
8,044.86
n.a.
n.a.
n.a.
n.a.
8,174.34
n.a.
n.a.
n.a.
n.a.
8,351.28
n.a.
n.a.
n.a.
n.a.
8,353.45
n.a.
n.a.
n.a.
n.a.
7,985.59
n.a.
n.a.
n.a.
n.a.
8,103.97
n.a.
n.a.
n.a.
n.a.
8,294.89
n.a.
n.a.
n.a.
n.a.
8,383.29
n.a.
n.a.
n.a.
n.a.
8,651.02
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941-43 = 10)'
965.23
1,130.65
1,207.23
1,276.65
1,293.74
1,302.18
1,290.00
1,253.12
1,260.24
1,287.15
1,317.81
1,363.34
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
943.44
1,260.02
1,567.52
1,828.06
1,902.69
1,976.03
1,968.30
1,881.59
1,924.93
1,996.50
1,950.11
1,920.93
Volume of trading (thousands of shares)
8 New York Stock Exchange
9 American Stock Exchange
1,361,043 1,403,376 1,542,724 1,660,932 1,728,333 2,285,601 2,510,157 2,501,759 2,351,792 2,201,576 2,446,458 2,544,752
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Customer financing (millions of dollars, end-of-period balances)
10 Margin credit at broker-dealers3
Free credit balances at brokers4
11 Margin accounts5
12 Cash accounts
173,220
203,790
221,660
222,780
236,670
241,540
230,540
225,780
231,490
226,480
237,120
244,370
92,560
84,920
117,850
93,580
119,710
88,730
117,970
81,600
119,360
82,750
119,020
83,000
126,210
81,090
137,550
84,400
141,000
79,420
139,290
79,460
142,580
80,470
143,400
80,200
Margin requirements (percent of market value and effective date)6
13 Margin stocks
14 Convertible bonds
15 Short sales
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
1 Federal debt outstanding
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
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
8,194.3
8,394.7
8,443.7
8,530.4'
8,170.4
4,714.6
3,455.8
8,371.2
4,872.8
3,498.4
8,420.0
4,797.5'
3,622.6
8,507.0'
4,843.2'
3,663.8'
24.2
23.7
.4
24.3
23.9
24.1
24.1
.0
23.7
23.7
.0
23.6
23.6
.0
23.8
23.8
.0
23.6
23.6
.0
23.6
23.6
.0
23.4'
23.4'
.0'
7,715.5
7,715.4
.1
7,778.1
7,871.0
8,107.0
8,281.5
8,330.6
8,420.3'
7,778.0
.1
7,870.9
.1
8,106.9
8,281.4
.1
8,330.6
.1
8,420.2'
.1'
....
2 Public debt securities
3
Held by public
4
Held by agencies
5 Agency securities
6
Held by public
7
Held by agencies
.4
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
7,333.4
7,535.6
7,333.2
7,535.5
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
Q4
Ql
Q2
Q3
6,405.7
6,998.0
7,596.1
8,170.4
8,170.4
8,371.2
8,420.0
8,507.0
6,391.4
3,205.1
6,982.0
8,400.2
4,354.9
916.7
2,427.4
8,455.1
4,354.0
911.5
7,578.5
3,959.7
8,117.0
4,184.0
8,117.0
4,184.0
8,351.7
4,340.4
1,003.2
2,157.1
539.5
245.9
3,618.8
160.7
5.9
5.9
.0
191.7
3,230.6
17.6
963.9
2,326.8
516.6
328.7
3,986.5
235.6
3.8
3.8
.0
191.2
3,506.6
53.4
963.9
2,326.8
516.6
328.7
3,986.5
235.6
3.8
3.8
.0
191.2
3,506.6
53.4
1,042.1
14.3
928.8
1,905.7
564.3
176.2
3,406.9
149.2
9.7
9.7
.0
192.2
3,007.0
16.0
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
3,466.9
744.2
3,970.6
117.2
252.2
172.2
454.6
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
205.1
306.3
179.9
126.4
2,041.1
455.8
1,580.8
588.7
146.9
3,186.3
153.4
11.2
11.2
.0
184.8
2,806.9
3,575.1
2,409.7
526.7
347.9
4,030.8
234.8
3.4
3.4
.0
192.0
523.1
2,415.5
534.7
19.5
372.8
4,166.0
242.0
3.0
3.0
.0
191.0
3,680.2
120.8
395.6
4,203.9
238.8
3.0
3.0
.0
189.2
3,722.8
102.9
3,466.9
744.2
3,970.6
117.2
252.2
172.2
454.6
3,502.0
758.5
4,114.0
115.4
249.7'
162.9
456.5'
3,626.6
766.4
4,030.8
116.8
244.9'
164.4'
466.2'
3,668.0
768.9
4,074.2
113.9
237.7
165.3
468.0
205.1
306.3
179.9
126.4
2,041.1
455.8
205.9
311.9'
183.0'
128.9'
2,082.6'
525.2'
205.2
320.5'
188.4'
132.1'
2,091.7
423.7
203.6
321.1
191.2
129.9
2,140.0
n.a.
3,551.2
5
By holder
U.S. Treasury and other federal agencies and trust funds .
Federal Reserve Banks'"
Private investors
Depository institutions
Mutual funds
Insurance companies
State and local treasuries7
Individuals
Savings bonds
Pension funds
Private
State and Local
Foreign and international5
Other miscellaneous investors7'9
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.
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 2006
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2006
June
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
July
2006, week end ng
Aug.
Aug. 2
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Sept. 6
Sept. 13
Sept. 20
Sept. 27
42.972
42,201
46.777
44,734
45.429
44.181
42.981
54.032
53.289
50.044
40.175
45.573
207.051
193,286
190.335
205,980
258.362
167.057
138.826
188.613
201.444
164.874
170.740
254.451
118.620
117,609
108.684
142,088
124.590
92.998
90.294
106.704
142.632
138.080
108.384
162.066
111,273
25.452
6,016
96,619
22,304
9,305
118,568
27,107
7,886
95,639
25,821
9,754
139,737
27,377
9,172
127,942
34,877
8,838
111,819
24,722
5,009
101,159
22,082
8,075
132,511
26,520
6,396
110,804
21,944
9,228
123,218
25,756
9,254
161,043
30,387
7,844
60,948
56,650
51,122
54,435
48,768
47,328
51,765
54,975
52,766
52,176
55,351
67,504
8,057
7,982
8,149
10,378
11,290
9,271
6,170
5,455
5,738
11,601
12,942
9,351
5,873
4,406
3,786
3,312
3,654
2,520
6,541
2,844
2,651
3,019
3,420
4,028
3,904
282
3,342
709
4,115
530
2,899
771
3,370
1,071
6,740
289
3,762
375
2,814
354
5,412
203
3,039
371
2,022
419
2,761
340
208,046
222,666
244,992
198,169
370,326
257,228
207,777
158,793
267,854
389,402
215,773
335,689
213,965
22,905
205,637
18,529
215,588
19,047
215,183
20,810
248,606
20,087
219,294
19,981
207,272
20,223
191,619
16,171
194,200
14,143
189,458
23,254
207,586
26,581
208,862
30,449
227,386
213,162
211,331
219,009
264,936
197,384
182,398
193,852
229,742
215,239
215,740
291,121
5,428
48,851
362
5,561
56,456
418
5,415
57,389
440
5,700
43,059
421
6,789
87,046
448
5,061
68,199
437
5,513
47,477
452
4,336
31,338
444
4,642
63,521
366
6,312
92,185
450
6,772
73,384
479
7,725
87,012
466
283,999
268,161
288,026
305,006
339,731
278,509
231,253
286,814
333,050
279,734
261,786
370,242
73,636
159,195
236,507
67,527
166,211
223,748
62,287
187,603
234,195
66,094
155,110
235,572
61,362
283,280
268,245
61,087
189,030
238,839
63,100
160,300
227,043
62,106
127,455
207,345
62,128
204,332
207,977
63,895
297,217
212,262
67,383
142,389
233,688
76,259
248,678
238,844
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
2006
2006, week ending
Item, by type of security
June
July
Aug.
Aug. 2
Aug. 9
Aug. 16
Aug. 23
Aug. 30
Sept. 6
Sept. 13
Sept. 20
Net outright positions2
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
-21,412
-19,218
-5,409
-13,603
-9,957
-6,549
-3,927
227
955
6,687
-3,729
-34,485
-38,728
-38,641
-38,697
-28,818
-35,315
-39,120
-51,043
-40,407
-40,644
-44,314
-35,657
-38,002
-35,851
-37,302
-33,383
-35,759
-38,279
-35,635
-35,385
-41,514
-41,364
-39,886
-16,297
1,007
-41,469
-13,276
501
-34,201
-12,943
-2,216
-40,925
-13,304
616
-35,102
-14,162
-1,351
-33,732
-11,577
-2,793
-34,502
-12,948
-3,169
-32,183
-12,676
-2,463
-29,746
-15,081
-1,484
-25,238
-16,028
-389
-28,738
-17,297
1,196
49,670
40,607
43,309
40,905
37,549
42,637
46,181
47,249
45,463
47,077
41,910
42,731
41,372
34,472
35,193
37,526
36,171
33,552
31,413
27,619
29,654
34,277
13,858
13,590
12,493
13,869
12,312
11,785
12,837
12,732
11,879
12,438
13,034
4,963
7,567
6,248
8,327
3,774
8,349
4,663
8,708
2,330
8,321
4,138
8,161
4,227
8,363
4,099
8,426
4,096
8,513
5,372
8,485
5,970
8,649
36,829
32,666
32,887
27,766
30,893
27,802
30,598
43,358
35,418
29,302
38,292
41,588
134,766
41,943
139,702
41,341
148,230
46,539
143,140
45,849
145,331
42,794
147,263
37,078
146,130
38,162
154,894
41,304
153,535
40,060
150,055
46,463
152,807
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
1,278,869
1,173,745
1,282,047
974,766
1,304,509
993,600
1,312,042
1,013,511
1,303,649
1,040,804
1,289,687
926,612
1,301,197
975,144
1,321,496
1,031,133
1,303,479
958,739
1,336,794
1,037,969
1,303,375
1,016,434
195,306
238,865
190,837
211,048
208,706
208,412
193,469
207,009
206,967
193,846
210,975
204,242
205,829
215,889
216,942
218,875
197,954
216,776
196,351
221,214
192,019
220,057
124,683
391,005
129,655
377,443
141,996
371,674
126,130
359,594
139,680
361,948
136,848
363,933
144,702
376,125
151,864
388,877
137,967
366,510
152,185
365,890
129,771
373,729
113,302
90,627
113,378
91,896
109,456
95,782
111,600
95,326
111,678
96,427
109,913
96,934
108,288
97,208
107,703
92,980
106,867
93,748
107,065
95,406
106,763
93,383
822,752
1,552,385
804,846
1,303,600
846,966
1,300,898
820,945
1,317,363
816,307
1,340,726
831,609
1,222,963
853,637
1,284,342
893,195
1,357,977
850,827
1,251,060
877,654
1,330,506
829,597
1,335,427
1,211,080
1,020,507
1,232,418
801,923
1,273,351
809,818
1,269,450
838,938
1,261,141
870,168
1,280,920
734,617
1,277,036
786,084
1,271,121
849,484
1,303,436
744,008
1,323,398
832,573
1,250,743
826,723
332,648
181,703
331,064
145,879
341,831
143,564
336,945
135,156
342,427
129,565
336,306
141,868
348,543
146,527
343,191
158,001
329,593
148,448
334,081
150,093
332,403
154,485
526,341
235,898
554,137
211,969
568,483
215,161
555,373
193,254
559,079
203,933
589,512
210,890
569,141
219,073
561,540
233,418
557,335
212,276
610,993
219,509
575,645
225,874
270,947
52,763
281,880
48,717
281,496
49,203
288,574
50,308
281,018
48,556
285,100
49,193
277,269
49,090
280,683
49,729
280,725
48,712
283,996
49,655
282,843
51,293
2 080 953
1,409,984
2 116 218
1,127,579
2 183 573
1,134,743
2 163 228
1,132,436
2158155
1,167,204
2 204 757
1,053,685
2 196 202
1,117,044
2 179 081
1,210,173
2 196 939
1,075,417
2 270 977
1,163,604
2173 601
1,172,234
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 2006
1.44
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Apr.
1 Federal and federally sponsored agencies
2 Federal agencies
3
Defense Department1
4
Export-Import Bank2-3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal 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
2^51,039
6
n.a.
26,828
25,412
6
n.a.
290
24,267
6
23,843
6
n.a.
161
23,590
6
23,371
6
n.a.
85
23,583
6
23,647
6
n.a.
90
23,515
6
n.a.
n.a.
23,641
n.a.
n.a.
n.a.
23,365
n.a.
n.a.
n.a.
23,837
n.a.
n.a.
n.a.
25,406
n.a.
n.a.
n.a.
n.a.
n.a.
July
M ay
2,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
n.a.
921,793
773,600
754,535
113,021
91,929
8,170
1,261
29,996
918,162
797,500
766,905
116,411
90,446
8,170
1,261
29,996
n.a.
904,531
806,000
780,572
117,950
n.a.
8,170
1,261
29,996
919,361
8,313,000
n.a.
120,362
n.a.
8,170
1,261
29,996
37,017
30,811
27,948
28^25
28,421
28,451
29,679
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
MEMO
19 Federal Financing Bank debt13
20
21
22
23
24
Lending So federal and federally sponsored agencies
Export-Import Bank3
Postal Service6
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association6
Other lending^4
25 Farmers Home Administration
26 Rural Electrification Administration
27 Other
14,489
22,528
n.a.
16,127
14,684
1. Consists of mortgages assumed by the Defense Department between 1957 and 1963
under family housing and homeowners' assistance programs.
2. Includes participation certificates reclassified as debt beginning Oct. 1, 1976.
3. On-budget since Sept. 30, 1976.
4. Consists of debentures issued in payment of Federal Housing Administration insurance
claims. Once issued, these securities may be sold privately on the securities market.
5. Certificates of participation issued before fiscal year 1969 by the Government National
Mortgage Association acting as trustee for the Farmers Home Administration; the Department
of Health, Education, and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
6. Off-budget.
7. Includes outstanding noncontingent liabilities: notes, bonds, and debentures. Includes
Federal Agricultural Mortgage Corporation; therefore, details do not sum to total. Some data
are estimated.
8. Excludes borrowing by the Farm Credit Financial Assistance Corporation, which is
shown on line 17.
9. Before late 1982, the association obtained financing through the Federal Financing Bank
(FFB). Borrowing excludes that obtained from the FFB, which is shown on line 22.
16,961
n.a.
10,987
18,515
n.a.
9,810
18,826
n.a.
9,595
18,719
n.a.
9,732
29,565
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.
29,573
18,736
n.a.
10,943
18,974
n.a.
10,599
18,903
n.a.
10,753
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
2006
Type of issue or issuer,
or use
2003
2004
2005
Feb.
1
Mar.'
Apr.
May
June'
July
Aug.'
Sept.
1 All issues, new and refunding
384,311
357,875
409,586'
23,889'
28,186
29,602'
34,161'
44,603
27,398'
31,685
27,939
By type of issue
2 General obligation
3 Revenue
144,056
238,204
130,471
227,404
145,828'
263,758'
9,160
14,729'
9,637
18,550
7,113
22,489'
9,628'
24,533
12,225
32,378
6,841
20,557'
10,894
20,791
9,298
18,641
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township
49,795
253,536
78,962
47,365
234,237
76,273
31,568
298,590'
79,429
1,684
18,548
3,656'
2,767
20,964
4,456
1,311
22,484'
5,807
2,150
25,822
6,189'
3,224
35,684
5,695
2,252
19,686'
5,460
2,113
22,130
7,443
2,681
19,950
5,308
7 Issues for new capital
264,697
228,357
223,804'
15,118
17,813
19,666'
23,677
34,079
22,470'
19,633
20,917
70,394
23,809
10,251
n.a.
22,339
97,736
65,426
20,546
9,242
n.a.
19,050
80,438
70,963
25,352'
9,899
n.a.
18,721
60,645
3,211
1,803
411
n.a.
2,051
6,166
4,928
482
918
n.a.
2,454
5,554
5,411'
2,306
794
n.a.
1,959
4,481
7,310
1,762
306
n.a.
2,159
6,547
8,232
3,492
843
n.a.
4,144
11,615
4,323
2,688
841
n.a.
4,007'
8,248'
7,090
1,506
288
n.a.
2,316
6,114
5,982
1,857
1,037
n.a.
2,635
5,799
By use of proceeds
9 Transportation
11 Social welfare
13 Other purposes
SOURCE: Securities Data Company beginning January 1990; Investment Dealer's Digest
before then.
1. Par amounts of long-term issues based on date of sale.
2. Includes school districts.
1.46
NEW SECURITY ISSUES
US. Corporations
Millions of dollars
2006
Type of issue, offering,
or issuer
2003
2004
2005
Jan.
2 Bonds2
Feb.
Mar.
Apr.
May
June
July
Aug.
1,815,569
2,070,680
2,438,989
188,865
211,135
260,482
180,232
251,880
279,027
132,531
207,338
1,692,260
1,923,094
2,323,735
180,827
204,973
247,142
172,401
239,524
269,135
125,606
202,072
1 579 311
112,949
1 737 342
185,752
2 141 496
182,238
163 400
17,428
189 807
15,166
221 356
25,787
155 724
16,676
213104
26,420
241 092
28,043
119 315
6,291
178 107
23,964
20,701
21,942
22,221
1,184
985
1,959
1,763
2,603
2,032
n.a.
n.a.
362,340
1 329 920
259,968
1 663 127
216,072
2 107 662
32,935
147 893
25,099
179 874
29,320
217 822
27,064
145 336
33,141
206 383
28,556
240 579
11,624
113 982
20,328
181 743
By type of offering
4 Sold abroad
MEMO
5 Private placements, domestic
By industry group
6 Nonfinancial
8 Stocks3
182,132
147,585
115,255
8,037
6,162
13,339
7,831
12,356
9,892
6,925
5,267
By type of offering
9 Public
10 Private placement4
123,309
58,823
147,585
n.a.
115,255
n.a.
8,037
n.a.
6,162
n.a.
13,339
n.a.
7,831
n.a.
12,356
n.a.
9,892
n.a.
6,925
n.a.
5,267
n.a.
By industry group
11 Nonfinancial
12 Financial
44,416
78,893
64,345
83,240
54,713
60,541
5,713
2,324
4,238
1,924
6,839
6,500
3,301
4,530
6,008
6,348
5,341
4,551
1,990
4,934
2,029
3,238
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 2006
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2006
1 Sales of own shares
2
Mar.
Apr.
May
June
July
Aug.
Sept.'
Oct.
1,660,423
1,755,583
194,323
171,541
189,316
152,341
134,662
150,952
142,528
175,136
3 Net sales3
1,450,319
210,104
1,563,520
192,063
154,083
40,240
143,954
27,587
188,859
457
161,790
-9,449
130,809
3,853
139,022
11,930
130,701
11,827
150,767
24,369
4 Assets4
6,193,664
6,864,636
7,313,245
7,460,010
7,236,296
7,228,283
7,235,158
7,395,128
7,517,825
7,766,512
5 Cash5
6 Other
304,816
5,888,848
303,068
6,561,568
330,511
6,982,734
353,879
7,106,131
354,156
6,882,140
348,534
6,879,749
340,109
6,895,049
356,042
7,039,086
353,939
7,163,886
352,562
7,413,950
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51 DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE: Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2006
2005
Account
2003
2004
2005
Q1
Q2
Q3
Q4
Q1
Q2'
Q3
ASSETS
1 Accounts receivable, gross2
1,284.0
472.1
441.7
370 2
1.494.0
566.5
451.5
476 0
1.622.4
601.8
479.2
541 4
1.499.0
569.3
447.9
481 8
1.521.9
575.2
455.6
491 1
1,547.5
590.7
451.0
505 8
1.622.4
601.8
479.2
541 4
1.634.7'
591.3'
482.8
560 6
1.673.2
604.5
496.4
572 3
1,711.1
629.9
489.6
591 7
55.2
25.0
53.0
26.3
44.7
24.5
52.2
24.6
51.6
24.2
45.4
26.6
44.7
24.5
44.3
23.4
45.3
23.5
48.4
24.7
7 Accounts receivable, net
8 All other
1.203.7
694 1
1.414.7
673 8
1.553.2
535 7
1.422.2
653 2
1.446.1
664 6
1.475.5
537 4
1.553.2
535 7
1.566.9'
526 9
1.604.5
498 4
1.638.0
481 9
9 Total assets
1,897.8
2,088.5
2,088.8
2,075.4
2,110.7
2,012.9
2,088.8
2,093.8r
2,102.9
2,119.9
106.9
145.1
136.9
175.3
142.1
160.0
133.3
161.2
129.9
148.8
138.8
146.0
142.1
160.0
137.4
151.0
137.5
152.7
132.4
164.0
202.8
743.2
475.6
224.1
257.7
817.4
471.8
229.4
312.2
806.5
423.6
244.4
254.4
849.5
443.4
233.7
260.0
865.1
457.2
249.7
271.0
753.8
497.2
206.2
312.2
806.5
423.6
244.4
318.1
812.6'
426.6'
248.1
326.6
833.8
414.9
237.5
335.8
825.3
420.0
242.4
1,897.8
2,088.5
2,088.8
2,075.4
2,110.7
2,012.9
2,088.8
2,093.8
2,102.9
2,119.9
3
Business
5 LESS:
6 LESS:
Reserves for unearned income
Reserves for losses
LIABILITIES AND CAPITAL
11 Commercial paper
Debt
13 Not elsewhere classified
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.
May
July'
Aug.
Seasonally adjusted
2
3
4
Consumer . . .
Real estate . .
Business
679.0
400.2
534.5
1,783.9
1,898.1
1,945.1
1,955.6'
1,969.8'
1,978.2'
1,991.6
2,002.3
736.4
500.5
547.0
773.0
564.1
561.0
784.7'
597.9
562.5
789.6'
599.2
566.7
794.2'
602.4
573.2
801.6'
598.8
577.7
812.3
598.1
581.3
816.9
601.9
583.5
1,973.1'
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 receivables'" . . .
Securitized assets4
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables'" .
1,795.4
1,910.9
1,930.9
1,947.4'
1,964.8'
1,981.2
1,997.3
686.1
250.1
79.0
45.3
97.7
743.9
298.3
74.1
50.4
143.7
781.4
278.0
85.3
66.3
172.3
778.8
267.2'
91.7
63.7
168.6
783.4'
267.1'
93.8
65.3
170.9
787.2'
258.5'
95.0
67.5
172.7
794.7
262.8
97.8
69.5
174.5
805.6
265.1
99.4
70.6
178.5
814.2
270.5
101.3
71.6
182.7
123.7'
5.5
33.8
51.0
400.6
320.2
50.0
98.2'
4.8
23.1
51.3
501.3
422.0
54.0
112.6'
4.2
14.9
47.8
565.0
489.8
51.6
115.4'
4.0
15.4'
52.7'
583.3
507.9
52.7
113.6'
4.0
15.3'
53.5'
591.2
515.1
53.6
119.9'
3.9
15.3'
54.3'
598.4
521.7
54.4
116.2
3.9
15.1
55.1
594.2
517.4
54.9
117.6
3.8
15.2
55.3
602.0
525.1
55.2
113.3
3.8
15.5
55.6
609.5
532.7
55.2
26.7
3.8
537.4
69.6
15.7
39.3
14.6
284.3
88.0
196.3
87.8
21.8
3.5
550.2
84.8
15.1
44.9
24.8
273.4
87.8
185.6
93.3
18.9
4.8
564.5
105.5
15.2
61.2
29.0
281.9
93.6
188.3
91.8
18.2
4.5
568.9
110.2
16.0
65.0
29.3
284.4
97.3
187.1
17.9
4.5
572.7
108.9
16.1
63.4
29.3
288.7
100.1
188.6
89.3
17.8
4.5
579.3
110.1
16.2
64.5
29.3
291.6
101.5
190.1
92.1
17.5
4.3
584.2
112.8
16.7
65.8
30.3
291.7
101.3
190.4
91.9
17.5
4.2
573.6
103.4
16.8
56.4
30.2
292.9
102.1
190.8
92.6
17.3
4.3
573.6
102.7
16.9
55.1
30.7
293.1
101.5
191.6
93.5
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
2.7
26.0
.1
24.4
11.6
12.8
32.2
35.6
2.6
32.9
.1
15.7
9.7
6.0
34.7
35.9
2.6
33.1
.1
15.4
9.4
6.0
34.6
35.7
2.6
33.0
.1
15.2
9.2
6.0
34.6
36.7
2.6
34.0
.1
16.8
10.9
5.9
34.3
33.8
2.5
31.2
.1
16.3
10.4
5.9
34.7
33.7
2.6
31.0
.1
16.2
10.3
5.9
34.3
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
1.53
Federal Reserve Bulletin Statistical Supplement • December 2006
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2006
Item
2003
2004
2005
Apr.
May
June
July
Aug.
Sept.
Oct.
Terms and y elds in primary and secondary markets
PRIMARY MARKETS
Terms1
1 Purchase price (thousands of dollars)
2 Amount of loan (thousands of dollars)
3 Loan-to-price ratio (percent)
5 Fees and charges (percent of loan amount)2
272.1
205.3
77.9
28.7
.61
292.0
215.0
76.0
28.8
.51
326.8
238.5
75.3
29.2
.54
335.0
248.2
76.5
29.5
.63
350.0
255.4
75.2
29.5
.65
355.5
258.5
75.0
29.4
.70
346.0
253.2
75.5
29.2
.67
343.1
248.9
74.8
29.5
.69
347.6
255.8
75.3
29.7
.76
349.7
257.7
75.7
29.7
.81
5.71
5.80
n.a.
5.68
5.75
n.a.
5.86
5.93
n.a.
6.55
6.64
n.a.
6.60
6.69
n.a.
6.69
6.79
n.a.
6.71
6.81
n.a.
6.77
6.87
n.a.
6.61
6.72
n.a.
6.57
6.69
n.a.
n.a.
5.03
n.a.
5.19
n.a.
5.13
n.a.
5.84
n.a.
5.99
n.a.
6.08
n.a.
6.10
n.a.
5.81
n.a.
5.63
n.a.
5.69
Yield (percent per year)
7 Effective rate1-3
SECONDARY MARKETS
Yield {percent per year)
9 FHA mortgages (section 203)5
10 GNMA securities8
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
898,445
n.a.
n.a.
904,555
n.a.
n.a.
727,545
n.a.
n.a.
730,367
n.a.
n.a.
733,786
n.a.
n.a.
730,906
n.a.
n.a.
731,439
n.a.
n.a.
726,801
n.a.
n.a.
725,530
n.a.
n.a.
720,947
n.a.
n.a.
14 Mortgage transactions purchased (during period)
572,852
262,646
146,641
23,042
18,704
18,697
15,133
15,927
20,180
13,045
Mortgage commitments (during period)
15 Issued7
16 To sell8
522,083
33,010
149,429
8,828
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.
644,436
n.a.
n.a.
652,936
n.a.
n.a.
710,017
n.a.
n.a.
723,774
n.a.
n.a.
723,068
n.a.
n.a.
722,209
n.a.
n.a.
711,018
n.a.
n.a.
706,979
n.a.
n.a.
702,448
n.a.
n.a.
704,446
n.a.
n.a.
n.a.
713,260
n.a.
365,148
n.a.
397,867
n.a.
26,620
n.a.
25,446
n.a.
28,907
n.a.
30,857
n.a.
31,893
n.a.
30,584
n.a.
30,904
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
12
FHA/VA insured
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end ofperiod)*
17 Total
18 FHA/VA insured
Mortgage transactions (during period)
20 Purchases
21 Sales
22 Mortgage commitments contracted (during period)9
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing
Finance Board in cooperation with the Federal Deposit Insurance Corporation.
2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the
seller) to obtain a loan.
3. Average effective interest rate on loans closed for purchase of newly built homes,
assuming prepayment at the end of ten years.
4. Average contract rate on new commitments for conventional first mortgages; from U.S.
Department of Housing and Urban Development (HUD). Based on transactions on the first
day of the subsequent month.
5. Average gross yield on thirty-year, minimum-downpayment first mortgages insured by
the Federal Housing Administration (FHA) for immediate delivery in the private secondary
market. Based on transactions on first day of subsequent month.
6. Average net yields to investors on fully modified pass-through securities backed by
mortgages and guaranteed by the Government National Mortgage Association (GNMA),
assuming prepayment in twelve years on pools of thirty-year mortgages insured by the
Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
7. Does not include standby commitments issued but includes standby commitments
converted.
8. Includes participation loans as well as whole loans.
9. Includes conventional and government-underwritten loans. The Federal Home Loan
Mortgage Corporation's mortgage commitments and mortgage transactions include activity
under mortgage securities swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
Real Estate
1.54
33
MORTGAGE DEBT OUTSTANDING1
Millions of dollars, end of period
Type of holder and property
Q3
Q4
8,368,137
9,374,760
10,677,150
11,320,160
11,750,270
12,146,150
12,446,890
12,756,650
By type of property
One- to four-family residences . .
Multifamily residences
Nonfarm, nonresidential
Farm
6,374,707
484,885
1,383,038
125,507
7,175,012
555,467
1,510,698
133,583
8,243,608
608,572
1,683,264
141,710
8,744,214
640,165
1,789,538
146,241
9,087,367
658,067
1,856,503
148,337
9,380,399
679,767
1,938,082
147,902
9,608,400
694,034
1 993 993
150,461
9,838,021
703,388
2,060,561
154,676
By type of holder
Major financial institutions . . .
Commercial banks2
One- to four-family
Multifamily
Nonfarm, nonresidential .
Farm
Savings institutions3
One- to four-family
Multifamily
Nonfarm, nonresidential .
Farm
Life insurance companies . .
One- to four-family
Multifamily
Nonfarm, nonresidential .
Farm
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
3,925,678
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
4,183,512
2,791,830
1,695,436
129,102
921,065
46,227
1,113,291
921,971
95,058
95,658
604
278,391
5,082
41,213
218,065
14,031
4,317,224
2,895,448
1,750,876
135,547
961,886
47,139
1,140,910
946,883
96,732
96,690
605
280,866
5,122
41,585
220,005
14,154
4,394,767
2,956,572
1,774,348
140,121
994,513
47,590
1,152,732
954,974
98,168
98,974
616
285,463
4,585
42,440
224,258
14,180
4,505,599
3,024,873
1,803,974
145,471
1,026,978
48,450
1,192,401
990,190
100,112
101,423
676
288,325
4,632
42,822
226,545
14,326
4,642,797
3,131,205
1,870,311
147,213
1,063,834
49,847
1,221,017
1,013,538
102,198
104,585
697
290,575
4,669
43,156
228,309
14,441
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
537,131
50
50
0
69,546
13,964
11,613
40,529
3,439
4,192
1,304
2,887
0
0
0
553,821
44
44
0
70,624
13,464
11,556
42,370
3,235
4,733
1,338
3,394
0
0
0
0
0
11
553,433
39
39
0
70,995
13,274
11,527
42,957
3,237
4,784
1,356
3,429
0
0
0
552,763
36
36
0
72,044
13,124
11,500
44,172
3,247
4,703
1,359
3,344
0
0
0
554,997
34
34
0
72,937
13,014
11,493
45,213
3,217
4,819
1,370
3,449
0
0
0
555,852
32
32
0
73,575
12,976
11,451
45,954
3,193
4,626
1,396
3,231
0
0
0
557,975
31
31
0
75,097
12,975
11,423
47,499
3,200
4,830
1,615
3,215
0
0
0
4
1
1
2
0
255,050
219,323
35,727
56,674
3,335
53,339
63,704
21,133
42,571
787
787
3,954,968
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
796,364
489,240
58,743
248,381
0
367
367
890,170
676,650
76,030
112,660
24,830
1 All holders
2
3
4
5
Q2
Federal and related agencies
Government National Mortgage Association
One- to four-family
Multifamily
Farmers Home Administration4
One- to four-family
Multifamily
Nonfarm, nonresidential
Farm
Federal Housing Admin, and Dept. of Veterans Affairs .
One- to four-family
Multifamily
Resolution Trust Corporation
One- to four-family
Multifamily
Nonfarm, nonresidential
Farm
Federal Deposit Insurance Corporation
One- to four-family
Multifamily
Nonfarm, nonresidential
Farm
Federal National Mortgage Association
One- to four-family
Multifamily
Federal Land Banks
One- to four-family
Farm
Federal Home Loan Mortgage Corporation
One- to four-family
Multifamily
Federal Agricultural Mortgage Corporation
Farm
55 Mortgage pools or trusts5
56
Government National Mortgage Association
57
One- to four-family
58
Multifamily
59
Federal Home Loan Mortgage Corporation .
60
One- to four-family
61
Multifamily
62
Federal National Mortgage Association
63
One- to four-family
64
Multifamily
65 Farmers Home Administration4
66
One- to four-family
67
Multifamily
68
Nonfarm, nonresidential
69
Farm
70
Private mortgage conduits
71
One- to four-family1"
72
Multifamily
73
Nonfarm, nonresidential
74
Farm
75
Federal Agricultural Mortgage Corporation .
76
Farm
77 Individuals and others7
78
One- to four-family
79
Multifamily
80
Nonfarm, nonresidential
81
Farm
23
4
4
15
0
239,433
219,867
19,566
49,307
2,901
46,406
60,270
27,274
32,996
990
990
9
2
9
1
1
2
7
0
249,515
222,535
26,980
52,793
3,106
49,687
61,360
23,389
37,971
887
887
6
0
249,684
219,338
30,346
54,769
3,223
51,546
60,986
21,736
39,250
838
838
5
0
251,627
218,347
33,280
55,489
3,265
52,224
61,207
20,903
40,304
832
832
5
0
255,006
219,279
35,727
54,640
3,215
51,425
61,481
20,396
41,085
804
804
6
1
1
4
0
255,028
219,301
35,727
55,233
3,250
51,983
62,935
20,878
42,057
787
787
4,457,045
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
967,920
610,290
66,620
291,010
0
1,003
1,003
4,959,720
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
1,417,547
1,007,730
72,998
336,819
0
938
938
5,273,327
420,915
388,057
32,858
1,245,930
1,228,600
17,330
1,900,149
1,824,143
76,006
0
0
0
0
0
1,705,458
1,250,013
78,981
376,465
0
875
875
5,521,957
411,338
378,109
33,229
1,279,664
1,261,865
17,799
1,924,810
1,847,818
76,992
0
0
0
0
0
1,905,310
1,429,201
81,559
394,550
0
835
835
5,780,012
405,246
371,484
33,762
1,330,795
1,312,284
18,511
1,940,079
1,862,476
77,603
0
0
0
0
0
2,103,057
1,581,158
89,494
432,405
0
835
835
5,929,939
403,236
368,823
34,413
1,375,148
1,356,020
19,128
1,972,793
1,893,881
78,912
0
0
0
0
0
2,177,463
1,638,872
91,314
447,278
0
1,298
1,298
6,067,118
405,848
370,882
34,966
1,400,955
1,381,468
19,487
2,005,027
1,924,826
80,201
0
0
0
0
0
2,253,476
1,692,865
93,655
466,956
0
1,813
1,813
993,409
765,049
79,200
122,736
26,424
1,237,935
994,138
83,737
132,040
28,021
1,309,887
1,060,632
85,049
135,323
28,883
1,358,330
1,103,658
86,178
139,194
29,300
1,416,374
1,156,528
87,898
142,714
29,235
1,455,499
1,190,559
89,381
145,813
29,747
1,488,756
1,219,266
89,561
149,377
30,552
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 2006
1.55 TOTAL OUTSTANDING CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
2006
Holder and type of credit
2003
2004
2005
Mar.
Apr.
May
June
July'
Aug.
Seasonally adjusted
1 Total
2,088,749
2,204,132
2,294,326
2,306,712
2,315,692r
2,332,109""
2,345,687'
2,362,072
2,375,650
2 Revolving
3 Nonrevolving2
770,497
1.318.251
800,966
1,403,166
825,163
1,469,163
824,235
1,482,477
827,190
1,488,502'
836,265
1,495,845'
845,103
1,500,585'
850,717
1,511,355
857,032
1,518,618
Not seasonally adjusted
4 Total
2,117,037
2,233,938
2,325,278
2,293,924
2,304,079'
2,318,289'
2,328,804'
2,344,491
2,373,247
669.386
393,044
205.877
114,658
77,850
58,491
597,732
704,270
492,346
215,384
98,363
91,271
58,525
573,779
707,039
516,534
228,588
102,122
109,078
58,600
603,318
697,480
499,555
227,343
104,469
98,058
54,912
612,108
704,648'
503,343
229,458
104,426
99,327
53,662
609,215
713,087'
498,677
230,466
104,082
100,637
53,174
618,166
694,749'
506,755
230,434
102,635
101,906
52,639
639,686
701,280
514,231
231,937
101,562
103,359
51,720
640,403
715,154
524,772
234,020
102,417
104,811
52,193
639,881
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
791,252
285,015
45,266
22,410
n.a.
23,848
14,505
400,208
823,373
314,649
50,382
23,244
n.a.
27,905
11,740
395 453
848,342
311,204
66,307
24,688
n.a.
40.755
10,841
394 546
814,883
281,128
63,747
23,324
n.a.
39.656
10,280
396,748
822,380
287,984
65,316
23,782
n.a.
40.237
8,897
396,164
831,245
292,858
67,466
24,277
n.a.
40.837
8,099
397,709
840,527
291,029
69,467
24,706
n.a.
41.418
7,612
406,296
845,249
295,768
70,589
25,113
n.a.
42.031
6,651
405,097
856,199
301,040
71,552
25,616
n.a.
42.643
6,737
408,611
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
1,325,785
384,371
347,778
183,467
114,658
54,002
43,986
197,523
1,410,565
389,621
441,964
192,140
98,363
63,366
46,786
178,327
1,476,936
395,835
450,226
203,900
102,122
68,323
47,759
208,771
1,479,041
416,352
435,809
204,019
104,469
58,402
44,632
215,359
1,481,699'
416,665'
438,027
205,676
104,426
59,090
44,765
213,051
1,487,044'
420,229'
431,211
206,189
104,082
59,800
45,075
220,457
1,488,277'
403,720'
437,288
205,728
102,635
60,488
45,027
233,390
1,499,242
405,511
443,641
206,824
101,562
61,328
45,069
235,306
1,517,048
414,114
453,220
208,404
102,417
62,168
45,456
231,270
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
2006
Item
2003
2004
2005
Feb.
Mar.
Apr.
May
June
July
Aug.
INTEREST RATES
Commercial banks2
1 48-month new car
6.93
11 95
6.60
11 89
7.08
12 05
7.39
12 18
n.a.
n.a.
7.60
12 58
n.a.
n.a.
7.95
12 40
12.30
12.73
12.71
13.21
12.51
14.54
13.30
14.38
n.a.
n.a.
n.a.
n.a.
13.16
14.77
n.a.
n.a.
n.a.
n.a.
13.06
14.67
3.40
9.72
4.36
8.96
5.46
9.03
5.54
9.41
5.35
9.17
5.59
9.44
5.96
9.62
5.30
9.56
2.07
9.66
3.69
10.06
61.4
57.5
60.5
56.8
60.0
57.6
61.8
57.7
61.1
57.7
60.9
57.5
61.0
57.6
61.2
57.5
66.5
57.6'
62.9
57.3
95
100
89
100
88
98
90
98
91
98
91
98
91
99
89
99
96
100'
91
99
26.295
14,613
24.888
15,136
24,133
16,228
24.766
16,303
25.490
16,599
24.986
16,567
24.788
16,645
26.126
16,817
28.052
16,745'
26.468
16,627
Credit card plan
4 Accounts assessed interest
Auto finance companies
6 Used car
OTHER TERMS3
Maturity (months)
8 Used car
Loan-to-value ratio
10 Used car
Amount financed (dollars)
11 New car
12 Used car
1. The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals. Data in this table also appear in the Board's G.19 (421) monthly
statistical release, available at www.federalreserve.gov/releases.
2. Data are available for only the second month of each quarter.
3. At auto finance companies.
Flow of Funds
1.57
35
FUNDS RAISED IN U.S. CREDIT MARKETS1
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q2
Q2'
Q3
Nonfinancial sectors
1 Total net borrowing by domestic nonfinancial sectors
2
3
4
5
6
7
8
9
10
11
12
13
14
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
15
16
17
18
19
20
21
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
48.1
-294.9
-1.0
23.6
162.6
95.0
77.4
557.8 r
418.7 r
26.6
105.6
7.0
181.0r
580XT
550XT
341.8 r
196.8
11.3
15.5
-295.9
1,137.9'
1,386.7'
1,687.5'
1,999.5'
2,249.3'
2,046.5'
2,454.5'
2,506.1'
2,534.0
1,835.1
1,847.7
-83.0
-5.1
-.5
122.8
347.7
-87.2
4.4
687.9'
529.6'
40.3
110.2
7.7
151.0'
-57.9
257.1
.5
159.4
132.3
-106.6
15.7
872.8
734.0
36.8
94.3
7.6
113.4'
-35.1
398.4
-2.4
137.6
158.3
-77.7
5.5
999.0'
800.8'
70.3'
119.8
8.0
104.0'
16.8
362.5
-.6
130.5
77.7
12.5
20.4
1,262.8'
1,054.8'
48.6'
151.4'
8.1
116.9'
49.8
570.4
-.7
188.2
34.3
108.4
76.3
1,125.1'
901.3'
51.0'
167.6'
5.3
97.4'
5.8
26.5
-1.4
147.4'
30.1
212.2
73.6
1,438.7'
1,135.7'
80.3'
211.1'
11.5
113.6'
2.8
264.2
-.4
237.6'
99.6
39.5
40.3
1,667.8'
1,322.5'
65.0'
271.9'
8.5
102.9'
-89.9
368.1
.8
205.3'
75.5
187.7'
119.2
1,588.0'
1,180.2'
91.8'
316.6'
-.5
51.4'
42.1
532.5
-1.0
77.6
213.5
263.7
48.3
1,307.7
1,025.2
52.7
219.4
10.4
49.5
40.1
-116.4
.2
160.5
207.3
128.5
90.4
1,168.5
872.1
43.5
237.4
15.5
155.9
-14.3
161.1
-1.0
195.5
119.6
155.0
67.4
1,028.6
685.9
36.4
288.6
17.7
135.8
649.9'
387.9'
215.2'
162.2
10.5
105.7
-5.6
813.8'
171.4
15.6'
148.0
7.8
143.9
257.6
978.4'
192.8'
88.6'
96.5
7.7
120.3
396.0
1,093.5'
428.8 r
177.7'
239.6
11.5
115.3
361.9
1,009.8'
503.3'
287.2'
211.8'
4.4
166.5
569.7
1,288.4'
606.4'
251.7'
336.7'
18.0'
126.5'
25.1
1,322.9'
650.9'
313.0'
316.3'
21.6
216.8'
263.9
1,333.4'
628.5'
265.3'
356.9'
6.4
175.3'
368.9
1,139.7
797.6
468.5
300.3
28.8
65.2
531.5
1,110.6
716.9
423.8
268.1
25.0
123.7
-116.1
841.6
669.8
388.3
258.0
23.5
176.3
160.1
22 Foreign net borrowing in United States
63.0
-13.7
92.9
31.7
123.5
56.2
84.5
84.7
113.3
109.3
101.6
412.7
23
24
25
26
31.7
21.2
11.4
-1.3
15.8
-18.5
-7.3
-3.8
58.3
31.6
5.3
-2.3
12.9
28.7
-7.7
-2.1
62.8
61.8
2.5
-3.6
6.2
41.3
12.1
-3.4
10.0
84.4
-5.3
-4.6
78.5
8.5
5.2
-7.4
59.1
17.9
39.5
-3.1
62.6
50.6
7.6
-11.5
-58.9
139.1
28.2
-6.9
249.3
176.7
-5.2
-8.1
912.61"
1,124.2'
1,479.7'
2,260.4
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total domestic plus foreign
1,719.2'
2,123.0'
2,305.5'
2,131.0'
2,539.2'
2,619.5'
2,643.3
1,936.7
Financial sectors
932.8'
872.5'
1,009.4'
880.3'
709.1'
1,173.5'
773.3'
1,491.3'
1,113.0
1,392.0
131.7
235.2
199.7
159.7'
7.0
42.5
4.9
-27.4
304.1
338.5
271.1'
18.7
25.5
2.2
-63.8
219.8
326.8
353.6'
21.1
6.8
8.2
-52.9
243.7
330.5
455.7'
-7.2
31.2
8.3
55.1
65.0
53.0
573.2'
33.5
74.1
26.3
180.1
-209.6
47.3
613.0'
16.8
38.8
22.7
301.5
-84.2
136.6
757.2'
-44.3
87.4
19.3
243.5
-243.9
163.4
535.9'
29.4
25.2
19.9
219.3
200.9
191.8
828.0'
35.0
25.9
-9.6
261.4
144.8
327.3
330.3
9.7
16.7
22.9
308.5
314.3
306.4
439.0
-35.2
44.6
14.5
316.2
-191.1
280.8
342.9
-20.2
29.0
6.1
60.0
27.3
.0
-.7
235.2
199.7
156.2'
86.4
2.6
15.6
-1.6
52.9
-2.0
1.5
.6
304.1
338.5
220.4'
10.9
3.2
1.4
1.1
49.7
-23.4
2.0
2.0
219.8
326.8
182.8'
66.2
24.5
-1.7
23.7
49.2
6.1
2.2
2.9
243.7
330.5
211.1'
111.0
31.9
6.4
14.4
77.7
64.4
2.3
3.0
65.0
53.0
332.1'
134.4
98.4
15.2
34.6
149.3
-4.9
1.5
-1.6
-209.6
47.3
427.0'
108.7
73.0
11.2
107.1
47.1
49.4
3.1
2.3
-84.2
136.6
691.5'
-27.2
92.8
-5.2
267.1
82.8
6.9
.3
.4
-243.9
163.4
720.3'
-150.2
66.0
28.0
99.4
61.2
13.3'
8.1
.6
200.9
191.8
805.3'
202.2
2.4
-33.4
38.9
62.5
9.6
-.2
2.8
144.8
327.3
305.0
22.5
66.6
35.1
137.0
195.0
-24.7
6.8
1.3
314.3
306.4
377.1
66.2
59.3
6.5
83.7
48.4
41.1
2.2
2.4
-191.1
280.8
379.4
-39.6
24.7
5.0
210.3
28 Total net borrowing by financial sectors
29
30
31
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Finance companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
36
Federal Reserve Bulletin Statistical Supplement • December 2006
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS1—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q2
Q3
Q4'
Q2'
Q3
47 Total net borrowing, all sectors .. .
l,693.2r
2,057.0'
2,352.2'
2,728.6'
3,003.3'
3,014.7'
3,304.5'
3,312.5'
4,110.8
3,756.3
3,328.8
3,024.0
48
49
50
51
52
53
54
55
56
211.6
-294.9
433.9
23.6
-94.5
-5.1
642.1
122.8
600.3'
-75.8
26.1
690.1'
151.0'
-63.5
257.1
547.2
159.4
517.5'
-80.2
20.2
881.1'
113.4'
-75.1
398.4
571.9
137.6
642.7'
-92.6
34.5
1,007.3'
104.0'
134.7
362.5
117.5
130.5
712.7'
48.5
90.9
1,289.1'
116.9'
236.2
570.4
-163.0
188.2
688.6'
137.3
111.8
1,147.8'
97.4'
317.3
26.5
51.1
147.4'
871.7'
162.6
156.4
1,458.0'
113.6'
324.8
264.2
-80.9
237.6'
644.0'
74.0
58.1
1,687.7'
102.9'
188.5
368.1
393.5
205.3
921.4
262.2
141.9
1,578.4
51.4
366.1
532.5
471.1
77.6
594.3
281.0
53.5
1,330.6
49.5
289.7
-116.4
621.0
160.5
785.4
121.5
128.1
1,183.0
155.9
551.1
161.1
88.7
195.5
639.2
129.5
88.3
1,034.7
135.8
Open market paper
Treasury securities
Agency- and GSE-backed securities .
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
343.5 r
113.3
118.6
562.7 r
181.0r
Funds raised through mutual funds and corporate equities
57 Total net issues
242.9
303.2
227.4
427.3
364.7
355.8
112.4
-103.9'
63.0
109.4
-191.6
-334.4
58 Corporate equities
59
Nonfmancial corporations
60
Foreign shares purchased by U.S. residents .
61
Financial corporations
62 Mutual fund shares
5.3
118.2
106.7
16.8
237.6
98.3
-48.1
109.1
37.3
204.9
46.4
-41.6
17.0
71.0
181.1
138.7
-42.0
118.0
62.7
288.6
66.5
-126.6
84.8
108.3
298.2
-33.5
-264.3
160.2
70.6
389.3
-126.9
-300.1
98.5
74.8
239.2'
-305.5
-469.9
138.7
25.7
201.6'
-147.6
-419.2
171.2
100.4
210.6
-395.1
-570.0
164.2
10.6
504.6
-467.0
-614.8
69.7
78.1
275.4
-565.9
-579.6
32.9
-19.2
231.5
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.2
through F.4, available at www.federalreserve.gov/releases.
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
NET LENDING IN CREDIT MARKETS
Q2
Q3
Q4'
Ql'
Q2'
2
1 Total net lending in credit markets
2 Domestic nonfinancial sectors
3
Household
4
Nonfinancial corporate business
5
Nonfarm noncorporate business
6
State and local governments
7
Federal government
8 Rest of the world
9 Financial sectors
10
Monetary authority
11
Commercial banking
12
U.S.-chartered commercial banks
13
Foreign banking offices in United States .
14
Bank holding companies
15
Banks in U.S.-affiliated areas
16
Savings institutions
17
Credit unions
18 Property-casualty insurance companies . . .
19 Life insurance companies
20
Private pension funds
21
State and local government retirement funds
22
Federal government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Exchange-traded funds
27
Government-sponsored enterprises
28 Agency- and GSE-backed mortgage pools .
29
Asset-backed securities issuers (ABSs) . . . .
30
Finance companies
31
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
1,693.2'
2,057.0'
2,352.2'
2,728.6'
3,003.3'
3,014.7'
3,304.5'
3,312.5'
4,110.8
3,756.3
3,328.8
3,024.0
39.2'
-71.7'
26.5'
2.1
70.7'
11.6
246.9'
1,407.1'
33.7
357.9
339.5
23.9
-12.2
6.7
56.2
28.0
-8.7
57.9
-125.0
36.3
2.1
138.3
26.3
-5.6
.0
246.0
199.7
143.2'
136.7
-5.3
68.9
20.6'
-1.8'
-104.1'
-4.7'
7.1
93.9'
6.0
302.1'
1,756.6'
39.9
205.2
191.6
-.6
4.2
10.0
44.4
41.5
9.0
130.9
-36.0
-53.8
9.7
267.3
126.6
3.2
.0
304.7
338.5
208.6'
49.8
8.6
92.4
-33.8'
177.1'
56.3'
25.8'
-.8
86.2'
9.5
430.5'
1,744.6'
77.7
404.4
393.8
6.2
3.1
1.3
33.4
44.2
39.9
233.0
-8.6'
-50.7
12.7
-17.7
138.7
8.6
3.7
224.1
326.8
189.3'
103.7
21.5
28.4
-68.5'
175.6'
121.9'
-3.2'
1.2
58.3'
-2.7
516.3'
2,036.7'
37.2
299.5
323.3
-43.0
8.6
10.6
126.0
51.2
67.0
180.6
69.2'
11.2
6.0
-95.9
138.0
36.2
.7
236.5
330.5
217.6'
122.7
28.1
79.6
94.8'
320.6'
205.6'
35.5'
11.7
64.5'
3.3
772.9'
1,909.8'
51.2
582.2
548.0
20.3
.0
13.9
172.8
39.8
73.6
173.0
-.3'
27.2
4.7
-124.9
116.6
11.2
3.8
46.2
53.0
333.2'
214.9
87.9
-29.2
73.0'
-35.0'
-185.9
28.1'
9.2
112.6'
.9
794.6'
2,255.1'
2.0
965.6
745.0
218.0
-9.4
12.0
2.1
45.8
89.0
198.7
-2.9'
60.0
8.5
-169.6
193.0
6.4
11.7
-54.8
47.3
423.2'
81.8
37.6
75.7
234.1'
423.8'
287.4'
36.3'
14.1
92.2'
-6.2
714.6'
2,166.1'
31.8
591.4
428.0
119.7
29.4
14.4
233.6
44.3
49.2
81.3
.7'
-23.6
11.4
-118.5
127.3
4.0
3.5
-88.8
136.6
677.8'
18.0
120.1
230.6
35.4'
571.6'
436.3'
13.7
124.7'
-6.3
846.2'
1,894.8'
56.9
649.2
514.9
174.8
-46.0
5.5
150.6
21.4
107.4
94.3
17.4'
-54.5'
8.1
12.7'
83.8
-.8
7.1
-263.5
163.4
698.7'
112.0
89.1
-215.3
156.9'
459.2
315.0
56.0
14.8
72.5
.8
1,035.9
2,615.7
14.9
380.4
306.1
56.2
9.4
8.8
138.6
33.2
22.1
66.9
34.7
6.7
3.0
235.0
92.2
-3.4
4.8
145.3
191.8
768.1
256.5
20.8
273.3
-69.4
315.8
232.5
56.3
11.2
10.7
5.1
745.3
2,695.2
63.0
876.8
792.5
73.4
6.8
4.1
82.1
55.5
60.1
134.1
7.5
-9.1
5.4
95.3
238.6
10.1
3.0
64.7
327.3
292.4
98.1
40.5
-51.5
301.4
16.0
-107.1
43.9
8.2
61.5
9.4
818.6
2,494.2
35.3
813.7
654.6
175.3
-8.0
-8.2
142.4
36.5
48.3
48.0
59.4
17.8
148.9
157.8
18.5
9.1
144.8
306.4
358.5
69.5
57.7
53.9
-113.5
57.9
-36.1
12.7
9.5
79.7
-7.9
769.5
2,196.6
20.3
115.6
15.2
102.6
.7
-3.0
260.0
28.5
42.7
109.8
38.9
-42.5
7.7
375.9
156.0
-8.9
2.8
-80.5
280.8
346.6
156.0
26.8
191.5
168.7
1,693.2'
2,057.0'
2,352.2'
2,728.6'
3,003.3'
3,014.7'
3,304.5'
3,312.5'
4,110.8
3,756.3
3,328.8
3,024.0
-.4
-4.0
2.4
126.9
12.0
-113.6
231.0
116.2
232.5
114.5
5.3
237.6
399.9
146.1
50.2
271.6'
25.9
-51.9
1,423.8'
4.3
.0
1.3
6.8
-28.0
156.8
314.6
68.5
428.5
23.7
98.3
204.9
-84.3
3.1
77.2
254.0'
14.4
-23.4
764.3'
3.2
.0
1.0
21.0
17.4
-8.3
325.4
50.0
-16.7
106.6
46.4
181.1
87.9'
-87.0
60.1
186.5'
22.2
-82.7
540.8'
-.9
.0
.6
36.6
-14.2
80.1
305.8
61.8
-207.5
227.2
138.7
288.6
25.0'
132.5
66.8
200.3'
-1.0
20.2
544.5'
-3.2
.0
.7
89.9
19.2
89.8
282.9
246.6
-136.5
83.2
66.5
298.2
189.5
166.6
33.1
241.4'
27.7
-56.1'
1,618.7'
420.0
1.6
43.9
232.9
263.7
-71.7
560.7
-33.5
389.3
209.6'
3.7
15.2
89.2'
37.0
-43.8'
356.8'
-210.5
73.1
-31.6
259.9
251.1
11.7
387.9
-126.9
239.2'
262.2'
73.1
18.1
160.9'
7.6'
-86.5'
1,448.9'
-7.2
.0
.9
91.2
-36.7
-44.4
482.8
376.1
216.7'
298.3
-305.5
201.6'
312.6'
20.8
20.0
136.8'
14.9
-93.3'
1,045.4'
-19.5
.0
.3
46.6
-11.5
44.7
283.9
193.7
351.4
172.6
-147.6
210.6
173.7
-128.5
10.9
223.5
51.0
-30.2
9.4
-2.3
.0
.6
229.1
-36.4
67.9
227.6
375.5
133.1
512.3
-395.1
504.6
147.6
244.3
3.3
62.8
31.2
-69.8
974.8
2.0
.0
.8
239.7
-139.3
21.9
304.7
300.0
222.6
239.1
-467.0
275.4
333.1
194.1
19.2
167.2
-5.2
-63.3
1,040.6
2.1
.0
1.0
96.4
-18.5
-81.9
256.9
389.3
438.5
606.3
-565.9
231.5
207.6
137.3
17.0
124.0
21.6
-58.9
1,012.4
4,919.1'
4,341.9'
3,807.1'
4,633.5'
6,261.3'
5,475.5'
6,046.8'
6,043.7'
5,545.7
6,767.2
6,014.3
5,840.6
-1.2
76.4
17.3
143.6'
32.6
-320.8'
-.1
-12.9
17.2
-51.2'
20.1
-219.9'
-.6
21.5
7.2
36.0'
2.3
-58.7'
-.3
53.5
-4.4
-24.0'
-42.6
-73.3'
-.3
62.0
15.0
-139.3'
-14.5
265.3'
.4
384.9
33.6
422.3'
-87.0
-701.4'
-243.3
-37.4
162.5'
-23.5
443.6'
1.7
22.6'
1.4
-127.4'
9.4
-221.4'
-.1
17.1
41.0
66.8
-12.3
312.4
-4.8
242.6
25.3
292.9
-89.3
-413.5
.3
268.7
10.1
254.4
-18.0
-403.6
.6
124.3
-9.3
259.6
3.1
-110.6
9.0
-.3
21.7'
5.7
-.5
8.2'
-1.6
-.7
165.8'
-8.9
.0
39.6
27.9
-.2
-6.1'
-18.8
-.4
57.1'
-11.9
-.3
29.2'
23.0'
.5
-26.7'
-18.7
.0
-136.2
4.3
.0
106.8
-15.6
.1
74.7
35.2
-.1
-71.9
4,940.9'
4,575.3'
3,635.8'
4,693.9'
6,051.5'
81.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Netflowsthrough credit markets
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
Other financial sources
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank transactions
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Corporate equities
Mutual fund shares
Trade payables
Security credit
Life insurance reserves
Pension fund reserves
Taxes payable
Noncorporate proprietors' equity
Miscellaneous
54 Total flnancial sources .
55
56
57
58
59
60
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements . . . .
Taxes payable
Miscellaneous
Floats not included in assets (-)
61 Federal government checkable deposits
62 Other checkable deposits
63 Trade credit
64 Total identifled to sectors as assets .. .
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.
5,727.2'
2. Excludes corporate equities and mutual fund shares.
38
Federal Reserve Bulletin Statistical Supplement • December 2006
1.59
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING1
Billions of dollars, end of period
Transaction category or sector
Q2
Q4
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
20,598.8'
25,337.6'
24,333.0'
26,647.1'
27,673.7
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities . . .
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
177.9
3,352.7
26.8
1,603.5
2,578.0
1,239.4
934.2
7,400.0'
5,639.5'
427.1'
1,215.4'
118.0
1,899.6'
119.9
3,609.8
27.3
1,762.9
2,710.3
1,132.8
949.9
8,272.9'
6,373.5'
464.0'
1,309.8
125.6
2,013.0'
84.8
4,008.2
24.9
1,900.5
2,868.6
1,087.5
955.4
9,271.8'
7,174.3'
534.3'
1,429.6
133.6
2,117.0'
101.6
4,370.7
24.3
2,031.0
2,946.3
1,100.0
975.8
10,549.4'
8,243.9'
582.8'
1,581.0'
141.7
2,233.9'
115.3
4,535.6
24.1
2,085.7
2,954.9
1,118.3
988.6
10,801.7'
8,445.0'
595.6'
1,618.1
143.0
2,215.8'
114.4
4,493.1
23.7
2,134.2'
2,962.4
1,170.6
1,018.2
11,180.9'
8,745.2'
615.7'
1,673.8'
146.2
2,240.1'
119.6
4,566.0
23.6
2,176.1'
2,987.3
1,183.8
1,015.6
11,607.2'
9,087.8'
631.9'
1,739.2
148.3
2,288.1'
93.8
4,678.0
23.8
2,225.6'
3,006.2
1,237.0'
1,053.1
12,004.3'
9,378.8'
654.9'
1,822.8'
147.9
2,325.3'
100.4
4,834.4
23.6
2,254.9'
3,059.6
1,293.0'
1,055.0
12,303.6'
9,612.3'
668.0'
1,872.9'
150.5
2,293.9'
115.4
4,759.6
23.6
2,305.7
3,111.4
1,325.0
1,089.5
12,614.8
9,845.7
678.9
1,935.5
154.7
2,328.8
114.2
4,803.2
23.4
2,337.5
3,141.3
1,368.3
1,091.8
12,880.8
10,028.9
688.0
2,004.7
159.1
2,386.2
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
7,649.4'
6,879.8'
4,729.1'
1,958.7
192.1
1,303.4
3,379.5
8,463.2'
7,051.3'
4,744.6'
2,106.7
200.0
1,447.3
3,637.0
9,451.8'
7,266.3'
4,855.5'
2,203.2
207.6
1,567.6
4,033.1
10,560.1'
7,695.1'
5,033.2'
2,442.8
219.1
1,682.8
4,395.0
10,740.9'
7,806.5'
5,094.4'
2,495.9
216.2
1,732.9
4,559.7
11,073.2'
7,972.1'
5,167.8'
2,580.2'
224.1
1,775.5'
4,516.8
11,447.6'
8,116.6'
5,227.8'
2,658.0'
230.8
1,813.5'
4,589.6
11,798.7'
8,292.4'
5,312.4'
2,748.3'
231.7
1,854.1'
4,701.9
12,011.6'
8,467.8'
5,409.6'
2,823.4'
234.8
1,881.0'
4,858.0
12,298.2
8,670.3
5,535.4
2,890.6
244.3
1,922.0
4,783.2
12,555.1
8,814.7
5,609.1
2,953.8
251.8
1,950.4
4,826.6
22 Foreign credit market debt held in
United States
862.9
1,072.3
1,424.8
1,439.5
1,462.0
1,482.6
1,466.0
1,498.3'
1,519.6
1,624.1
23
24
25
26
196.0
557.1
63.2
46.6
254.2
705.2
68.6
44.3
329.9
993.0
63.3
38.6
332.3
1,003.3
66.3
37.7
336.2
1,024.4
65.0
36.4
355.0
1,026.5
66.3
34.7
368.4
987.5
76.2
34.0
389.0
1,000.2
78.1
31.1'
370.1
1,035.0
85.1
29.4
433.6
1,079.1
83.8
27.5
26,279.6
26,799.6'
27,450.0'
28,716.7'
29,193.3
29,770.9
2
3
4
5
6
7
8
9
10
11
12
13
14
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total credit market debt owed by nonfinancial
sectors, domestic and foreign
20,075.0'
21,671.2'
267.1
874.4
60.9
42.2
23,563.2'
25,757.8'
28,113.2'
Financial sectors
28 Total credit market debt owed by
financial sectors
10,055.4'
11,946.0'
12,928.3'
12,381.7'
13,518.7
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities .
Agency- and GSE-backed mortgage pool
securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
47
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs) . . .
Brokers and dealers
Finance companies
Real estate investment trusts (REITs)
Funding corporations
296.0
266.1
285.7
4.9
3.1
2,130.6
2,831.8
1,696.5'
42.3
818.1
171.2
636.6
325.5
286.4
262.3
6.9
5.1
2,350.4
3,158.6
1,879.2'
40.6
884.3
195.7
660.4
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
2,076.3'
47.0
995.3
227.7
674.8
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,408.4'
62.2
1,129.7
340.9
709.4
373.0
403.3
324.3
11.8
10.7
2,606.8
3,547.1
2,510.3'
65.0
1,144.0
359.2
737.9
383.4
408.6
344.1
12.5
11.2
2,585.7
3,567.9
2,687.5'
63.7
1,143.9
382.4
790.7
389.1
421.5
344.3
12.6
11.3
2,524.8
3,616.6
2,859.7'
70.7
1,038.6
398.9
803.2
394.3
429.5
348.9
14.7
11.5
2,575.0
3,677.0
3,069.5'
62.4
1,108.6
399.5
837.5
398.4
438.7
343.0
14.6
12.2
2,611.2
3,752.4'
3,141.6'
71.1
1,101.0
416.1
874.6
422.6
467.0
346.5
16.3
12.5
2,689.8
3,813.3
3,240.9
72.8
1,124.0
430.9
424.1
475.3
354.0
16.8
13.1
2,642.0
3,892.3
3,326.9
74.0
1,121.6
437.1
919.3
48 Total credit market debt, domestic and foreign
29,257.9'
31,726.6'
34,614.0'
37,703.7'
38,372.8'
39,181.3'
39,941.3'
41,041.4'
41,891.5'
42,712.0
43,467.4
1,571.1
3,352.7
4,989.1
1,603.5
5,487.4'
1,424.3
1,444.5
7,485.6'
1,899.6'
1,507.6
3,609.8
5,536.3
1,762.9
6,121.5'
1,344.2
1,464.7
8,366.6'
2,013.0'
1,432.5
4,008.2
6,108.1
1,900.5
6,890.6'
1,283.9
1,499.2
9,373.9'
2,117.0'
1,567.2
4,370.7
6,225.6
2,031.0
7,675.0'
1,332.4
1,590.2
10,677.8'
2,233.9'
1,606.2
4,535.6
6,177.9
2,085.7
7,857.6'
1,353.5
1,604.8
10,935.7'
2,215.8'
1,668.5
4,493.1
6,177.3
2,134.2'
8,082.9'
1,398.9
1,666.5
11,319.7'
2,240.1'
1,744.1
4,566.0
6,165.0
2,176.1'
8,162.1'
1,423.9
1,664.8
11,751.1'
2,288.1'
1,833.9
4,678.0
6,275.8
2,225.6'
8,358.4'
1,491.4'
1,707.2
12,145.8'
2,325.3'
1,901.3
4,834.4
6,387.2
2,254.9'
8,518.7'
1,547.3'
1,702.9'
12,450.8'
2,293.9'
1,960.9
4,759.6
6,526.7
2,305.7
8,721.3
1,583.0
1,760.4
12,765.5
2,328.8
2,090.4
4,803.2
6,557.7
2,337.5
8,872.6
1,623.7
1,763.0
13,033.1
2,386.2
29
30
31
49
50
51
52
53
54
55
56
57
Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
1,197.3
2,130.6
1,133.5
2,350.4
1,080.5
2,594.1
1,135.7
2,659.2
1,158.6
2,606.8
1,218.0
2,585.7
1,269.5
2,524.8
1,371.8
2,575.0
1,411.9
2,611.2
1,475.4
2,689.8
1,542.6
2,642.0
2,831.8
2,352.4'
121.7
463.7
85.6
3,158.6
2,706.0'
142.8
470.5
93.8
3,489.1
3,147.7'
135.6
501.7
102.1
3,542.2
3,735.7'
169.1
575.8
128.4
3 547.1
3,899.4'
168.8
578.6
134.0
3,567.9
4,096.1'
163.3
611.9
138.8
3,616.6
4,148.4'
173.8
614.5
143.8
3,677.0
4,364.7'
178.3
620.1
141.4
3 752.4'
4,459.0'
176.3
616.9
147.1
3,813.3
4,575.0
172.9
641.5
150.8
3,892.3
4,652.2
171.6
643.7
152.3
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
Q2
CREDIT MARKET DEBT OUTSTANDING
Q3
Q4
Q2'
2
Total credit market assets
29,257.9' 31,726.6'
34,614.0' 37,703.7'
38,372.8"
39,181.3' 39,941.3' 41,041.4'
41,891.5
42,712.0
43,467.4
Domestic 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 commercial banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Property-casualty insurance companies . . . .
Life insurance companies
Private pension funds
State and local government retirement funds
Federal government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Exchange-traded funds
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Asset-backed securities (ABSs) issuers
Finance companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
3,694.3'
2,117.7'
243.6'
73.1
981.2'
278.7
3,213.2'
22,350.4'
551.7
5,210.5
4,610.1
510.7
24.7
65.0
1,133.2
421.2
518.4
2,074.8
585.8
689.4
44.8
1,584.9
1,229.7
108.5
.0
2,099.1
2,831.8
1,601.5'
978.6
48.0
316.0
322.6'
4,280.6'
2,529.6'
266.3'
73.6
1,125.6'
285.6
4,169.3'
26,164.1
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,292.6
516.6
625.2
2,488.3
646.5'
649.9
63.6
1,471.3
1,506.4
153.3
4.5
2,559.7
3,489.1
1,994.3'
1,205.0
97.5
424.1
348.8'
4,613.9'
2 747.9'
301.7'
85.3
1,190.2'
288.8
4,981.1'
28,108.7'
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.4
698.8
2,661.4
646.1'
677.1
68.2
1,346.3
1,623.0
164.5
8.2
2,605.9
3,542.2
2,327.5'
1,420.0
200.1
394.9
421.8'
4,598.3'
2,707.9'
295.3'
87.6
1,218.7'
288.8
5,173.5'
28,601.0'
717.3
6,745.2
6,054.3
563.1
34.0
93.8
1,496.3
565.8
721.1
2,714.2
645.4'
692.1
70.4
1,294.3
1,669.3
166.1
4,722.8'
2,802.5'
299.6'
91.1
1,244.9'
284.6
5,361.2'
29,097.4'
724.7
6,909.7
6,178.8
592.1
41.4
97.4
1,550.2
579.0
733.4
2,733.2
645.6'
686.2
73.2
1,245.1
1,697.3
167.1
12.0
2,571.2
3,567.9
2,602.2'
1,441.7
239.5
457.3
460.9'
5,034.0'
3,026.4'
332.6'
98.2
1,290.7'
286.1
5,672.0'
30,335.4'
744.2
7,189.6'
6,408.2'
648.3
32.2
101.0
1,616.6
592.6
765.8
2,765.4
658.6'
674.3'
76.0
1,336.2
1,747.1
166.0
15.0
2,540.5
3,677.0
2,969.5'
1,537.1
267.0
486.0
511.1'
5,112.6
3,098.6
332.0
101.0
1,293.9
287.1
5,851.7
30,927.1
758.5
7,366.0
6,560.7
669.5
33.9
102.0
1,648.8
604.1
780.8
2,803.0
660.5
672.0
77.3
1,347.7
1,805.7
168.5
15.7
2,545.2
3,752.4
3,038.4
1,543.0
277.1
497.2
565.0
5,132.1
3,092.1
337.4
103.1
1,312.8
286.8
6,066.1
31,513.8
766.4
7,586.6
6,741.8
713.0
31.9
99.9
1,679.5
615.6
792.9
2,821.6
672.5
686.9
81.8
1,370.9
1,840.2
173.2
18.0
2,595.2
3,813.3
3,133.1
1,575.5
291.6
470.0
529.1
5,121.3
3,041.0
354.2
105.5
1,330.5
290.2
6,256.4
32,089.7
768.9
7,631.1
6,769.8
730.0
32.1
99.2
1,744.5
624.4
803.6
2,852.4
682.2
676.2
83.7
1,452.9
1,880.2
170.9
18.7
2,571.7
3,892.3
3,210.9
1,609.0
298.3
546.1
571.6
29,257.9' 31,726.6'
34,614.0' 37,703.7"
38,372.8"
39,181.3' 39,941.3' 41,041.4'
41,891.5
42,712.0
43,467.4
46.8
2.2
24.5
810.1
191.4
1,360.2
3,370.5
1,121.0
2,240.6
1,233.7
4,135.4
825.9
880.0
8,766.4
2,372.3
219.2
11,281.6'
55.8
2.2
25.5
831.1
206.0
1,351.9
3,695.9
1,171.0
2,223.9
1,340.3
3,638.4
738.8
920.9
8,068.0'
2,460.2'
241.4
11,976.1'
62.3
2.2
26.0
867.8
193.3
1,432.0
4,001.7
1,232.8
2,016.4
1,567.5
4,654.2
871.3
1,013.2
9,672.7'
2,485.2'
240.5
12,431.7'
62.2
2.2
26.7
957.7
212.2
1,521.8
4,284.6
1,504.9
1,879.8
1,650.7
5,436.3
1,037.9
1,060.4
10,636.8'
2,674.6'
268.1
13,877.4'
56.3
2.2
26.9
1,062.7
196.6
.,499.7
4,376.0
1,575.4
1,841.0
.,782.8
5,471.6
1,051.5
1,059.4
10,461.7'
2,721.6'
285.0
13,895.1'
54.3
2.2
27.2
1,010.0
207.6
1,514.6
4,408.5
1,637.1
1,831.5
1,911.3
5,595.7
1,064.5
1,067.2
10,666.5'
2,783.4'
287.7
14,106.8'
52.0
2.2
27.4
1,032.9
204.3
1,481.9
4,523.7
1,738.0
1,876.7'
1,983.9
5,874.4
1,068.0
1,077.7
10,954.2'
2,867.6'
295.8
13,878.6'
45.9
2.2
27.5
1,044.5
220.3
1,525.0'
4,599.4'
1,776.0
2,006.9
2,005.6
6,048.9
1,030.2
1,082.6
11,176.7'
2,914.2'
295.7
13,982.4'
46.0
2.2
27.6
198.1
1,508.6
4,688.7
1,876.1
2,014.1
2,127.7
6,464.1
1,105.2
1,091.6
11,393.8
2,950.5
311.6
13,807.0
48.3
2.2
27.8
1,161.7
154.5
1,538.5
4,733.0
1,949.0
2,067.4
2,221.8
6,420.0
1,147.9
1,092.6
11,271.4
3,030.0
311.8
13,807.1
46.5
2.2
28.1
1,185.8
151.3
1,493.4
4,791.4
2,053.7
2,166.5
2,371.4
6,625.8
1,180.7
1,103.1
11,633.8
3,087.5
321.1
14,043.7
52 Total liabilities
68,139.7' 70,674.1'
77,384.5'
84,798.0'
85,738.2"
87,357.6'
88,880.3'
90,825.3'
92,606.1
93,697.0
95,753.3
Financial assets not included in liabilities (+)
53 Gold and special drawing rights
54 Corporate equities
55 Household equity in noncorporate business . .
15,310.6
4,805.7'
23.2
11,900.5
4,970.0'
23.7
15,618.5
5,399.6'
24.6
17,389.3
5,957.7'
22.6
17,002.3
6,133.1'
22.3
17,185.9
6,357.7'
19.3
17,914.7
6,555.0'
19.3
18,277.0'
6,739.9'
19.4
19,140.8
6,942.3
19.7
18,668.9
7,055.0
19.7
19,306.3
7,140.9
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
-8.6
630.9
11.1
390.6'
93.3
-3,450.2'
-9.1
652.5
15.5
426.6'
126.3
-3,269.9'
-9.5
705.9
12.6
402.6'
69.3
-3,026.9'
-9.7
767.9
27.3
258.8'
96.2
-2,878.7'
-9.6
864.1
35.7
361.1'
91.9
-3,117.5'
-9.4
803.3
23.3
427.7'
97.0
-3,104.3'
-9.0
808.9'
27.5
413.5'
80.8
-3,451.4'
-9.1
813.2
38.5
389.8'
95.4
-3,378.6'
-10.3
873.9
44.0
461.9
93.1
-3,599.6
-10.2
941.0
44.4
551.3
74.3
-3,853.0
-10.0
972.1
45.5
636.6
56.7
-3,827.7
Floats not included in assets (-)
62 Federal government checkable deposits
63 Other checkable deposits
64 Trade credit
-12.3
21.6
-140.5'
-11.7
20.9
25.3'
-17.9
20.8
64.9'
11.2
20.6
58.9'
4.9
16.4
-3.5'
1.7
19.6
-34.9'
2.8'
12.4
-19.6'
1.8'
20.6
39.7'
1.5
16.4
-11.3
1.5
19.7
-29.3
2.7
12.4
-24.8
65 Totals Identified to sectors as assets .
90,742.0'
3,894.8'
2,197.5'
269.4'
72.4
1,067.4'
288.2
3,736.8'
24,095.0'
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,166.6
465.4
558.3
2,307.8
577.3'
638.7
57.6
1,567.1
1,368.4
117.1
3.7
2,323.2
3,158.6
1,790.7'
1,082.3
69.4
344.4
254.1'
2,581.4
3,547.1
2,428.5'
1,423.1
209.5
440.0
462.7'
4,765.9'
2,796.7'
312.8'
94.5
1,273.7'
288.3
5,572.3'
29,603.1'
736.4
7,084.1
6,327.3
628.2
29.9
98.8
1,588.8
585.9
760.3
2,760.6
649.9'
672.6'
75.2
1,241.8'
1,719.6
166.9
13.8
2,503.2
3,616.6
2,769.0'
1,465.2
261.8
432.0
499.5'
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
56
57
58
59
60
61
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
1,101.8
89,591.5' 100,204.4' 109,817.1' 110,652.5" 112,699.3' 115,503.3' 117,850.0' 120,838.9 121,700.8 124,356.7
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.
2. Excludes corporate equities and mutual fund shares.
40
Federal Reserve Bulletin Statistical Supplement • December 2006
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2005
2005
2006
2006
2005
2006
Series
Q4r
Ql'
Q2'
Q3'
Q4'
Ql'
Q2'
Q3'
Capa city (percen t of 2002 output)
Output (2002=100)
Q4'
Ql'
Q2'
Q3'
Capacity utilization rate (percent)2
1 Total industry
108.1
109.5
111.2
112.3
134.1
134.9
135.7
136.5
80.7
81.2
82.0
82.3
2 Manufacturing
3
Manufacturing (NAICS)
110.0
110.7
111.5
112.3
113.0
113.9
114.2
115.2
138.2
139.6
139.2
140.6
140.2
141.6
141.1
142.6
79.6
79.3
80.1
79.8
80.6
80.4
80.9
80.8
4
5
Durable manufacturing
Primary metal
116.3
109.1
117.9
112.5
120.6
116.4
122.2
114.3
148.8
130.4
150.5
130.0
152.1
129.4
153.6
128.7
78.1
83.7
78.3
86.5
79.3
89.9
79.5
88.8
6
7
8
9
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
106.0
113.5
152.4
107.4
112.7
156.5
109.0
115.0
166.3
110.4
120.5
174.3
135.9
144.0
203.1
136.1
144.7
210.9
136.4
145.6
218.5
136.8
146.6
225.8
78.0
78.8
75.1
78.9
77.9
74.2
79.9
79.0
76.1
80.7
82.2
77.2
103.4
104.0
104.6
103.8
106.3
103.8
106.9
101.1
124.0
132.4
124.1
133.0
124.5
133.4
125.1
133.8
83.4
78.6
84.3
78.1
85.3
77.8
85.4
75.6
111.1
104.4
108.6
96.5
117.0
106.1
109.1
95.6
121.2
106.5
109.2
93.9
124.8
107.5
109.4
92.6
158.2
129.6
133.4
120.9
158.9
129.9
133.9
120.0
159.8
130.3
134.4
119.1
160.8
130.6
135.0
118.3
70.3
80.6
81.4
79.8
73.6
81.7
81.5
79.7
75.8
81.8
81.2
78.9
77.6
82.4
81.0
78.3
98.7
106.5
105.8
104.4
99.0
98.6
110.0
109.0
105.2
98.0
98.1
108.8
110.4
106.6
98.4
98.8
113.3
111.9
107.0
97.4
116.2
121.2
139.9
119.5
116.2
115.9
121.7
140.2
120.3
116.5
115.7
121.8
140.6
121.2
116.8
115.5
121.6
140.9
122.3
117.0
85.0
87.9
75.7
87.3
85.2
85.1
90.4
77.8
87.4
84.2
84.8
89.3
78.5
87.9
84.3
85.5
93.1
79.4
87.5
83.2
20 Mining
21 Electric and gas utilities
93.9
106.0
98.6
102.7
100.5
106.1
100.6
107.3
110.4
122.6
110.3
122.9
110.4
123.6
110.7
124.3
85.0
86.5
89.4
83.5
91.0
85.9
90.8
86.3
MEMOS
22 Computers, communications equipment, and
semiconductors
173.7
179.2
192.7
204.7
226.9
238.4
249.5
260.2
76.5
75.2
77.2
78.7
23 Total excluding computers, communications
equipment, and semiconductors
105.2
106.4
107.7
108.5
130.0
130.4
130.8
131.3
80.9
81.6
82.3
82.6
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
106.5
107.7
108.7
109.5
133.4
133.9
134.3
134.8
79.8
80.5
80.9
81.3
10
11
12
13
14
15
16
17
18
19
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
2006
2005
Series
Low
High
Low
Nov.
June
Capacity ut lization rate (percent)
July
Aug.'
Sept.'
Oct.'
Nov.'
4
1 Total industry
88.9
74.0
86.5
70.8
85.0
78.5
80.7
82.3'
82.4r
82.4
82.0
81.8
81.8
2 Manufacturing
3
Manufacturing (NAICS)
88.3
88.4
71.6
71.4
86.2
86.2
68.5
67.8
85.4
85.3
77.1
76.9
79.7
79.4
80.8'
80.6'
80.9'
80.8'
81.1
80.9
80.8
80.7
80.3
80.0
80.3
80.2
89.4
101.9
69.6
69.6
86.7
90.5
62.9
47.0
84.5
93.8
73.3
74.6
78.2
83.9
79.5'
91.1'
79.5'
89.7'
79.8
89.0
79.3
87.8
78.6
85.3
78.8
84.3
91.6
94.6
69.7
74.5
82.8
92.7
61.8
58.0
81.6
85.2
72.6
73.9
78.1
78.0
79.9'
78.7'
80.4'
81.8'
80.9
82.5
80.7
82.3
80.5
81.2
80.0
81.6
86.9
66.0
89.9
76.9
81.4
75.9
75.5
76.5'
76.8'
77.1
77.6
77.9
78.3
99.3
95.6
67.9
54.6
91.9
95.2
64.6
44.9
89.1
89.7
77.0
56.0
83.5
78.0
84.7'
78.3'
86.2'
75.1'
86.0
76.4
84.1
75.2
84.1
72.6
84.3
75.2
75.9
87.6
67.9
72.3
87.0
85.8
69.0
75.6
87.1
86.8
81.1
81.6
70.5
80.9
76.4'
82.1'
77.6
82.3'
77.5
82.3
77.8
82.4
77.9
81.9
78.4
81.8
86.3
89.5
77.5
61.8
84.4
89.6
80.6
72.6
85.9
91.2
81.0
77.7
81.2
79.9
80.7'
78.7'
81.1'
79.0'
80.7
78.5
81.3
77.4
81.2
77.0
82.0
77.4
96.7
92.2
85.3
96.1
86.0
74.0
80.8
69.1
61.8
75.5
95.4
91.9
83.6
90.1
88.0
81.3
70.7
67.7
71.8
86.3
92.5
89.0
85.1
89.8
91.0
86.1
83.1
80.1
76.4
80.6
84.3
89.9
76.3
87.3
84.7
85.6'
92.2'
79.0'
88.0'
84.0'
84.8'
91.8'
79.4'
88.6'
83.9'
85.5
92.8
79.8
87.6
82.9
86.3
94.9
79.1
86.2
82.9
85.5
91.2
78.9
85.1
84.0
85.3
89.7
78.6
85.4
82.6
20 Mining
21 Electric and gas utilities
93.6
96.3
87.6
82.7
94.0
88.2
78.7
77.6
86.1
92.7
83.5
84.0
85.9
85.4
91.5'
86.8'
91.3'
87.6'
90.2
87.5
91.0
83.7
91.3
87.2
91.0
86.9
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.3
62.3
89.6
74.6
80.8
74.2
76.9
77.4'
77.7'
78.5
79.8
80.1
80.7
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.6
85.4
78.7
81.0
82.7'
82.8'
82.8
82.2
82.1
82.0
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.4
68.1
85.9
77.2
79.9
81.2'
81.3'
81.4
81.1
80.4
80.4
4
5
Durable manufacturing
Primary metal
6
7
8
14
Fabricated metal products . . . .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts
Aerospace and
miscellaneous
transportation equipment .
Nondurable manufacturing
Food, beverage, and tobacco
products
Textile and product mills . . . .
15
16
17
18
19
Paper
Petroleum and coal products . .
Chemical
Plastics and rubber products . .
Other manufacturing (non-NAICS) .
9
10
11
12
13
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G. 17(419) monthly statistical release. The data
are also available on the Board's website, www.federalreserve.gov/releases/gl7. The latest
historical revision of the industrial production index and the capacity utilization rates was
released in December 2006. The recent annual revision will be described in an upcoming
issue of the Federal Reserve Bulletin.
2. 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 2006
INDUSTRIAL PRODUCTION
Indexes and Gross Value'
Monthly data seasonally adjusted
Group
2002
propor-
2005
avg.
Apr/
May'
July'
Sept.'
Oct.'
Nov.'
Index (2002=100)
MAJOR MARKETS
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
108.2
109.1
109.1
109.4
110.0
110.9
110.9
111.9
112.3
112.5
112.1
112.1
58.9
31.1
8.9
4.7
0.4
1.5
2.4
22.2
18.3
9.8
0.9
5.0
2.1
3.9
107.5
105.7
105.9
102.6
145.1
106.2
105.8
105.5
105.2
106.5
78.8
108.4
100.8
106.9
09.3
06.1
06.7
01.6
55.5
07.2
08.3
05.8
05.9
08.4
79.1
07.5
00.0
05.7
110.0
107.0
106.1
100.8
155.1
105.6
108.7
107.1
106.8
109.7
78.8
107.8
100.3
108.4
109.3
105.7
106.6
102.0
157.5
105.7
108.0
105.3
106.5
109.0
79.5
108.0
100.8
102.2
109.5
106.0
106.2
100.9
162.2
106.2
107.6
105.8
106.0
108.6
78.8
107.5
99.4
105.5
110.2
106.7
106.8
102.3
162.0
106.4
107.3
106.5
106.7
108.9
79.0
109.2
99.8
106.5
111.0
106.8
107.0
101.2
176.6
106.7
108.0
106.6
107.7
109.7
80.2
110.1
101.7
103.8
110.8
106.4
106.0
99.9
174.3
106.0
107.6
106.4
106.7
108.6
79.9
109.1
100.8
105.8
111.9
107.6
107.4
102.8
177.0
104.5
107.9
107.6
107.1
108.3
80.3
110.7
101.6
109.3
112.2
107.4
105.1
97.9
172.4
104.2
109.1
108.1
107.9
109.1
81.0
111.6
101.6
109.0
112.5
107.8
106.2
99.6
168.2
105.4
109.5
108.2
107.7
108.7
79.5
112.4
101.0
109.8
112.1
107.4
105.0
97.8
172.3
103.4
109.4
108.1
108.1
109.7
79.1
111.9
102.1
108.2
112.0
107.0
103.0
94.5
171.8
102.4
108.7
108.2
108.4
109.7
80.0
111.6
103.7
108.1
112.2
107.4
104.7
97.9
175.7
101.9
108.6
108.1
108.6
110.9
79.5
110.9
102.2
106.7
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.1
1.8
3.0
5.3
1.8
112.8
111.5
122.1
108.2
109.7
18.9
24.8
30.9
10.4
10.0
119.5
127.6
129.6
111.2
111.2
119.7
132.4
128.0
110.8
111.2
119.9
133.4
128.1
110.8
111.7
121.6
134.7
130.5
112.3
109.9
124.6
136.9
135.2
114.7
111.5
124.8
136.6
137.6
114.0
111.8
126.4
139.0
139.8
115.0
112.6
128.1
140.7
140.3
117.4
113.8
128.6
141.2
139.5
118.4
113.0
128.6
141.4
140.6
117.8
113.5
128.8
140.5
142.5
117.6
113.7
130.3
144.6
143.9
118.3
113.1
21
22
Construction supplies
Business supplies
4.3
11.2
106.7
107.1
10.7
08.3
111.2
108.9
111.3
108.7
110.7
108.8
111.4
109.4
111.6
110.1
111.1
109.9
111.1
110.8
111.6
111.2
111.3
111.5
110.4
110.7
109.5
111.7
108.6
111.4
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
41.1
30.7
19.1
4.1
6.7
8.4
11.6
0.8
2.7
4.5
10.4
106.2
109.4
113.8
100.3
133.1
106.1
102.4
89.5
99.1
107.6
98.4
06.9
11.3
17.7
00.6
42.8
07.9
01.5
90.0
98.5
05.0
96.4
108.1
112.3
118.6
100.2
144.8
108.8
102.6
88.9
99.5
106.7
97.9
108.8
113.9
120.1
101.3
147.0
110.0
104.2
89.3
100.7
109.0
97.1
109.3
113.8
120.5
101.0
148.6
109.9
103.5
89.2
99.4
108.5
98.7
109.6
114.3
121.4
102.1
151.4
109.8
103.3
88.3
99.6
108.5
98.5
110.9
115.7
123.4
104.2
154.7
110.9
104.1
87.7
100.0
109.2
99.4
111.0
115.6
123.3
101.4
155.7
111.3
103.9
87.0
99.7
110.0
100.2
111.9
116.4
124.3
102.2
158.0
111.6
104.4
86.9
100.3
110.3
101.1
112.5
117.0
125.2
100.2
163.0
111.4
104.6
87.2
100.6
111.1
101.7
112.6
117.6
125.9
101.1
166.6
110.6
104.9
86.7
100.8
111.7
100.9
112.1
117.4
126.0
99.9
168.7
110.1
104.4
84.9
101.5
110.4
99.8
112.3
116.8
124.9
97.4
169.7
108.7
104.5
83.7
101.3
110.7
101.5
112.4
117.0
125.4
98.5
172.0
108.0
104.2
83.1
100.9
110.4
101.7
94.8
92.5
104.6
107.1
05.3
08.6
106.2
109.6
106.1
109.4
106.3
109.8
106.8
110.3
107.6
111.4
107.4
111.4
108.3
112.3
108.6
113.1
108.7
113.2
108.1
112.8
108.0
113.1
108.1
113.1
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
40 Nonindustrial supplies . . .
2,997.7 3,013.2 3,005.5 3,007.6 3,025.6 3,033.3 3,033.4 3,069.2 3,070.6 3,080.6 3,071.3 3,056.3 3,065.7
43.4
31.1
12.3
2,322.7
2,327.1
2,264.0
!,269.6
2,291.3
:,323.9 2,321.8
1,591.7 1,597.1 1,605.7 1,596.2 1,599.4 1,606.4 1,598.3 1,599.7 1,625.7 1,614.1 1,623.0 1,618.8 1,601.0 1,608.1
643.2
673.1
676.5
680.4
680.8
718.6
726.7
702.2
707.1
718.5
718.6
719.0
687.9
702.7
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2005
2006
2005
avg.
Nov.'
Dec'
Jan.'
Feb.'
Mar.'
Apr.'
May'
June'
July'
Aug.'
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
79.0
108.0
108.6
110.1
110.9
110.6
111.4
111.5
112.3
111.2
112.0
111.7
112.6
112.8
113.7
112.6
113.5
113.5
114.5
113.9
114.9
114.3
115.4
114.3
115.3
113.7
114.6
113.9
115.0
321
43.4
1.5
112.1
111.1
116.3
116.8
116.6
116.9
117.5
115.0
117.6
113.4
118.5
112.9
120.3
111.3
120.1
111.1
121.3
109.3
121.7
109.3
122.6
107.4
122.2
105.6
121.5
102.3
122.3
99.0
327
331
332
333
2.3
2.3
5.8
5.3
108.2
107.1
103.3
110.0
113.5
109.4
106.1
112.3
111.3
109.5
105.7
114.7
115.0
112.9
106.9
112.1
114.5
112.6
107.3
112.0
114.1
111.8
108.1
114.0
114.5
114.3
109.4
116.2
113.3
117.1
108.4
114.1
114.0
117.7
109.1
114.8
113.4
115.7
109.9
119.6
113.3
114.5
110.7
121.0
110.6
112.8
110.5
120.9
109.6
109.4
110.3
119.6
108.5
107.9
109.8
120.4
334
8.0
141.0
153.2
154.0
154.7
156.0
158.9
164.0
165.8
169.1
171.6
174.0
177.1
179.8
182.5
335
3361-3
2.2
7.5
100.7
103.7
103.5
103.3
103.0
102.2
104.8
104.2
104.0
102.9
105.1
104.3
106.6
104.3
106.7
102.5
105.6
104.6
107.6
100.3
107.6
102.2
105.4
100.7
105.6
97.2
105.9
100.8
3364-9
3.6
104.2
111.5
114.4
116.1
117.8
117.3
120.1
120.9
122.4
124.5
124.6
125.3
125.8
126.8
337
339
1.8
3.3
104.6
111.8
105.0
114.5
104.1
114.0
104.0
114.2
104.4
115.0
104.9
114.8
105.5
115.9
106.4
115.7
106.6
116.5
104.9
116.9
106.4
118.1
104.6
118.0
104.3
118.6
103.3
120.3
35.6
104.5
104.8
105.5
106.4
105.9
105.9
106.3
106.1
107.0
107.4
107.5
107.7
107.1
107.0
311,2
313,4
315,6
322
323
11.4
1.4
1.0
3.1
2.4
106.3
96.1
80.0
98.6
98.9
108.2
96.6
80.7
97.9
99.8
109.6
95.6
80.4
99.1
99.7
109.3
96.2
81.0
100.4
101.3
108.8
95.8
80.2
98.3
101.8
109.2
94.7
80.3
97.2
102.3
110.2
94.3
81.4
97.6
103.9
108.7
93.8
81.2
97.8
102.7
108.6
93.5
81.4
99.0
103.0
109.4
93.6
82.3
98.0
102.7
108.9
92.8
80.6
98.7
102.7
109.9
91.4
80.2
99.6
103.1
110.0
90.7
80.9
98.7
104.2
111.2
90.9
80.3
98.3
102.7
324
325
1.8
10.8
110.0
108.0
108.9
106.7
108.1
107.8
111.3
109.0
110.4
108.7
108.4
109.4
105.3
110.1
108.9
110.0
112.3
111.1
111.7
111.8
112.8
112.4
115.3
111.5
110.7
111.3
108.8
111.0
326
3.8
102.3
104.3
105.3
104.9
105.0
105.6
106.9
105.9
106.9
108.1
107.1
105.8
104.7
105.4
1133,5111
4.9
99.6
98.4
98.5
98.7
97.6
97.8
99.0
98.0
98.1
98.1
97.0
97.2
98.4
96.9
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
97.6
105.5
107.2
97.2
94.8
104.6
107.4
92.0
96.8
107.8
108.8
102.9
98.7
98.7
103.0
80.2
98.5
103.7
106.6
90.9
98.6
105.5
107.9
94.6
99.7
105.3
108.0
93.1
100.7
105.7
108.5
93.0
101.1
107.4
109.7
97.0
101.0
108.7
111.1
97.7
99.9
108.8
111.0
98.4
100.8
104.3
105.3
99.6
101.3
108.8
110.6
100.6
101.0
108.7
111.3
96.6
78.7
105.2
106.6
107.0
107.9
107.5
107.8
108.7
108.3
109.2
109.5
109.7
109.4
108.7
108.8
76.4
108.4
110.7
111.3
112.1
111.9
112.3
113.5
113.4
114.3
115.1
115.3
115.4
115.0
115.0
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G. 17(419) monthly statistical release. The data
are also available on the Board's website, www.federalreserve.gov/releases/gl7. The latest
historical revision of the industrial production index and the capacity utilization rates was
released in December 2006. The recent annual revision will be described in an upcoming
issue of the Federal Reserve Bulletin.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • December 2006
3.10
U.S. INTERNATIONAL TRANSACTIONS
Summary
Millions of dollars; quarterly data seasonally adjusted except as noted1
Item credits or debits
Q3
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
-527,514
-494,897
1,016,096
-1,510,993
36,593
42,292
112,789
-70,497
-5,699
-69,210
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
-665,286
-611,296
1,151,942
-1,763,238
27,592
33,635
123,867
-90,232
-6,043
-81,582
-791,508
-716,730
1,275,245
-1,991,975
11,293
17,598
134,417
-116,819
-6,304
-86,072
-183,415
-181,792
320,853
-502,645
7,841
9,463
40,371
-30,908
-1,622
-9,464
-223,109
-194,774
331,165
-525,939
-2,159
-581
32,642
-33,223
-1,578
-26,176
-213,198
-191,140
344,430
-535,570
-2,516
-894
34,295
-35,189
-1,622
-19,542
-217,127
-193,114
355,945
-549,059
-2,157
-534
38,057
-38,591
-1,623
-21,856
-225,550
-200,318
366,083
-566,401
-3,782
-2,164
35,806
-37,970
-1,618
-21,450
537
1,710
5,539
1,501
459
1,049
1,765
287
1,523
0
601
1,494
-572
2,805
0
-398
3,826
-623
14,096
0
4,511
10,200
-615
4,766
0
2,976
1,951
-161
4,796
0
-81
5,050
-173
513
0
-67
729
-149
-560
0
-51
-351
-158
1,006
0
-54
1,275
-215
-328,484
-13,014
-18,851
-146,722
-149,897
-872,317
-361,623
-120,017
-146,549
-244,128
-446,436
-213,018
-44,221
-180,125
-9,072
-138,647
-102,716
-29,483
-36,790
30,342
-15,911
10,368
-4,812
-47,266
25,799
-357,540
-196,407
-46,190
-53,692
-61,251
-212,580
-80,697
-31,199
-53,915
-46,769
-225,062
-85,663
-23,302
-53,034
-63,063
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
278,275
184,931
39,943
-517
48,643
5,275
387,809
263,338
41,662
-139
69,245
13,703
199,495
71,749
84,701
-488
24,275
19,258
33,983
8,213
17,713
395
824
6,838
71,934
37,418
23,786
-255
5,078
5,907
75,697
42,156
24,063
37
-821
10,262
75,869
-8,905
30,458
724
42,241
11,351
80,775
47,225
32,912
1,073
-7,207
6,772
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
586,494
97,207
96,526
91,455
16,640
220,705
63,961
1,062,412
336,740
93,250
102,940
14,827
381,493
133,162
1,012,755
179,849
30,105
199,491
19,416
474,140
109,754
354,609
94,912
20,271
37,239
4,679
153,049
44,459
181,416
2,141
-50,305
62,041
9,158
131,871
26,510
451,801
148,851
74 953
-5,212
1,932
186,009
45,268
288,707
79,586
25,082
9,784
1,127
127,285
45,843
319,386
89,116
53,496
-7,202
1,129
138,757
44,090
-3,321
-7,510
-2,261
85,128
-4,351
10,410
-7,510
85,128
10,409
-557
-72,240
-17,549
-54,691
-514
-19,071
9,219
-28,291
-1,756
43,434
10,437
32,997
-1,003
64,929
-3,040
67,968
-551
49,709
-14,324
64,033
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
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
1,523
2,805
14,096
4,766
4,796
513
-560
1,006
278,792
387,948
199,983
33,588
72,189
75,660
75,145
79,702
41 Change in Organization of Petroleum Exporting Countries official
assets in United States (part of line 22)
1. Seasonal factors are not calculated for lines 11-16, 18-20, 22-35, and 38-41.
2. Associated primarily with military sales contracts and other transactions arranged with
or through foreign official agencies.
3. Consists of investments in U.S. corporate stocks and in debt securities of private
corporations and state and local governments.
4. Reporting banks included all types of depository institutions as well as some brokers
and dealers.
3.12
5. Consists of capital transfers (such as those of accompanying migrants entering or
leaving the country and debt forgiveness) and the acquisition and disposal of nonproduced
nonfinancial assets.
SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current
Business.
U.S. RESERVE ASSETS
Millions of dollars, end of period
2006
Asset
1 Total
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
2003
2004
2005
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.'
85,938
86,824
65,127
66,846
67,706
67,935
67,559
66,606
66,217
65,588
66,705
11,043
12,638
11,045
13,582
11,043
8,210
11,041
8,518
11,041
8,704
11,041
8,618
11,041
8,644
11,041
8,726
11,041
8,655
11,041
8,676
11,041
8,890
22,535
39,722
19,479
42,718
8,036
37,838
7,219
40,068
7,219
40,742
7,906
40,370
7,460
40,414
6,715
40,124
6,619
39,902
5,577
40,294
5,309
41,465
NOTE: The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at www.federalreserve.gov/releases.
1. Gold held "under earmark" at Federal Reserve Banks for foreign and international
accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold
stock is valued at $42.22 per fine troy ounce.
2. Special drawing rights (SDRs) are valued according to a technique adopted by the
International Monetary Fund (IMF) in July 1974. Values are based on a weighted average of
exchange rates for the currencies of member countries. From July 1974 through December
1980, sixteen currencies were used; since January 1981, five currencies have been used. U.S.
SDR holdings and reserve positions in the IMF have also been valued on this basis since July
1974.
3. Includes allocations of SDRs by the International Monetary Fund on Jan. 1 of the year
indicated, as follows: 1970—$867 million; 1971—$717 million; 1972—$710 million; 1979—
$1,139 million; 1980—$1,152 million; 1981—$1,093 million; plus net transactions in SDRs.
4. Valued at current market exchange rates.
Summary Statistics
3.13
45
FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS'
Millions of dollars, end of period
2006
2003
Asset
2004
2005
Apr.
162
1 Deposits
80
May
June
83
86
86
1 041 215 1 069 014
8,967
8,967
1 097 103
8,967
1 093 393
8,967
142
July
Aug.
Sept.
Oct.
Nov.'
88
89
98
104
90
1 095 248
8,967
1 116 941
8,967
1 098 848
8,967
1 111 991
8,967
1116 038
8,967
Held in custody
3 Earmarked gold3
845 080
8,971
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
1 089 512
8,967
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
July
1
1 Total
2
3
4
5
6
1
8
9
10
11
12
By type
Liabilities reported by banks in the United States2
U.S. Treasury bills and certificates3
U.S. Treasury bonds and notes
Marketable
Nonmarketable4
U.S. securities other than U.S. Treasury securitiesf
By area
Europe1
Canada
Latin America and Caribbean
Asia
Africa
Other countries
1,909,034
2,172,004
1,954,620
2,115,296
270,387
245,199
296,647
201,863
288,792
204,912
288,792
204,912
296,647
201,863
309,493'
186,321
986,454
1,630
405,363
1,081,647
948
590,899
1,030,763
911
429,242
1,057,481
911
563,200
1,081,647
948
590,899
357,322
7,806
112,608
1,388,409
10,843
31,866
368,516
7,211
128,006
1,615,397
17,214
29,502
364,413
7,569
113,245
1,417,229
14,551
37,433
350,973
6,679
122,989
1,575,240
15,247
38,010
368,516
7,211
128,006
1,615,397
17,214
29,502
1. For data before June 2006, includes the Bank for International Settlements.
2. Principally demand deposits, time deposits, bankers acceptances, commercial paper,
negotiable time certificates of deposit, and borrowings under repurchase agreements.
3. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
4. Excludes notes issued to foreign official nonreserve agencies. Includes current value of
zero-coupon Treasury bond issues to foreign governments as follows: Mexico, beginning
March 1990, 30-year maturity issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
5. Debt securities of U.S. government corporations and federally sponsored agencies, and
U.S. corporate stocks and bonds.
3.16
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
Sept.'
2,251,976' 2,265,051
2,278,663
2,273,287
289,314
189,963
296,758
179,394
266,973
178,474
1,094,295
993
660,874
1,111,181
999
673,593
1,118,887
1,006
682,618
1,137,350
1,013
689,477
373,086
7,441'
150,320
1,659,098
19,275
36,598
360,790
7,184
154,597
1,682,168
19,433
34,721
357,781
6,505
157,166
1,700,628
18,823
31,602
364,993
6,536
158,394
1,689,062
15,634
32,510
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 2005 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
Sept.
1 Banks' own liabilities
2
Deposits
3
Other liabilities
80,543
n.a.
n.a.
63,119
36,674
26,445
98,349
52,410
45,939
91,693
59,241
32,452
96,086
60,726
35,360
100,448
64,735
35,713
100,508
67,143
33,365
4 Banks' own claims
5
Deposits
6
Other claims
71,724
34,287
37,437
81,669
38,102
43,567
129,544
51,029
78,515
98,852
43,942
54,910
107,999
49,340
58,659
107,808'
48,673'
59,135
97,704
39,652
58,052
7 Claims of banks' domestic customers2
8
Deposits
9
Other claims
35,923
7,907
28,016
21,365
5,064
16,301
32,056
8,519
23,537
56,100
20,931
35,169
67,362
24,110
43,252
88,716
26,928
61,788
88,076
35,110
52,966
1. 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 2006
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Apr.
May
July
Aug.r
Sept/
Oct
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
2 Banks' own liabilities
By type of liability
3
Deposits2
4
Other
5
Of which: repurchase agreements3
6
Banks' custody liabilities4
By type of liability
7
U.S. Treasury bills and certificates5
8
Other negotiable and readily transferable
instruments'"
9
Of which: negotiable time
certificates of deposit held in custody
for foreigners
10
Of which: short-term agency securities7 . . .
11
Other
12 International and regional organizations5
13
Banks' own liabilities
14
Deposits2
15
Other
16
Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments'"
19 Official institutions'
20
Banks' own liabilities
21
Deposits2
22
Other
23
24
25
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments'"
2,315,606
2,911,516
3,080,496
3,391,548' 3,490,962" 3,331,109
3,391,209" 3,369,764
3,400,906
3,454,451
1.677.193
2,082,981
2,299,172
2,609,342' 2,681,919' 2,470,993
2,501,402' 2,475,469
2,518,063
2,568,465
852.803
824,390
460,191
638,413
955,072
1,127,909
665,127
1,043,801
1,255,371
712,549
781,324
1,196,365 1,250,850 1,155,187
1,412,977' 1,431,069' 1,315,806
809,831'
852,625'
768,738
782,206
809,043
860,116
1,172,695' 1,130,409
1,328,707' 1,345,060
784,160
782,105
894,295
889,807
1,153,339
1,364,724
804,635
1,229,659
1,338,806
782,500
882,843
885,986
242,179
246,344
357,247
350,608
258,797
202,774
828,535
259,843
258,862
255,477
248,405
254,682
256,627
318,783
319,826
326,126
349,693
359,109
366,723
363,061
315,169
34,394
83,633
176,842
48,260
152,789
194,583
53,594
136,783
201,655
55,515
118,948
197,218
58,867
131,981
203,873
56,697
143,632
252,602
58,913
136,007
268,402
61,667
121,856
274,607
59,876
116,927
283,417
60,079
104,291
289,034
14,149
12,577
6,134
6,443
1,572
110
15,654
10,363
6,098
4,265
5,291
1,879
20,793
15,612
8,361
7,251
5,181
1,085
19,551
14,177
9,470
4,707
5,374
1,081
19,422
14,306
8,846
5,460
5,116
1,057
33,157
25,096
17,846
7,250
8,061
4,158
29,400'
23,071'
16,192
6,879'
6,329
2,222
28,140
20,325
14,792
5,533
7,815
2,522
30,946
25,630
18,901
6,729
5,316
1,327
30,195
25,545
19,988
5,557
4,650
814
1,462
3,412
4,096
4,293
5,293
3,989
3,836
401,856
117,737
24,208
93,529
515,586
145,516
26,613
118,903
498,510
170,984
45,426
125,558
477,996'
175,041'
45,652
129,389'
497,807'
185,075'
49,598
135,477'
489,641
181,254
42,223
139,031
495,814'
188,251'
44,788'
143,463
479,277
175,873
49,120
126,753
476,152
185,042
50,291
134,751
445,447
166,060
50,605
115,455
284,119
212,032
370,070
245,199
327,526
201,863
302,955
197,456
312,732
195,085
308,387
185,138
307,563
186,321
303,404
189,963
291,110
179,394
279,387
178,474
105,499
117,647
123,249
121,242
113,441
111,716
100,913
4,059
3,903
4,107
72,087
124,871
125,663
1,380,639
1,163,309
706,536
456,773
217,330
18,267
1,574,793
1,354,437
773,703
580,734
220,356
26,978
1,790,292
1,565,079
840,076
725,003
225,213
23,771
49,311
149,752
52,400
140,978
48,777
152,665
51,526
151,157
52,079
157,640
53,983
205,489
53,633
221,422'
54,027
227,376
53,477
235,811
56,512
240,376
34 Other foreigners''
35
Banks' own liabilities
36
Deposits2
37
Other
518,962
383,570
115,925
267,645
805,483
572,665
148,658
424,007
770,901
547,497
149,938
397,559
839,139'
591,835'
157,785
434,050'
862,810'
604,976'
158,075
446,901'
825,995
563,257
163,917
399,340
846,080'
571,818'
166,266'
405,552
844,178
568,034
162,748
405,286
843,103
570,553
169,276
401,277
861,224
582,721
170,212
412,509
38
39
40
135,392
28,388
232,818
44,727
223,404
33,124
247,304
36,435
257,834
35,693
262,738
37,651
274,262'
39,541
276,144
38,613
272,550
36,879
278,503
40,498
82,363
24,641
136,192
51,899
142,415
47,865
164,809
46,060
175,941
46,200
178,017
47,070
187,742
46,979'
190,348
47,183
188,354
47,317
189,495
48,510
1,125,352
1,349,777
1,656,367
1,642,760
26 Banks10
27
Banks' own liabilities
28
Deposits2
29
Other
30
Banks' custody liabilities4
31
U.S. Treasury bills and certificates5
32
Other negotiable and readily
transferable instruments'"
33
Other
41
Banks' custodial liabilities
U.S. Treasury bills and certificates5
Other negotiable and readily
transferable instruments'"
Other
2,054,862' 2,110,923' 1,982,316
1,828,289' 1,877,562' 1,701,386
983,458 1,034,331
931,201
844,831'
843,231' 770,185
226,573
233,361
280,930
23,890
23,642
21,458
2,019,915' 2,018,169
1,718,262' 1,711,237
945,449'
903,749
807,488
772,813
306,932
301,653'
25,529
26,598
2,050,705 2,117,585
1,736,838 1,794,139
988,854
914,871
805,285
821,967
323,446
313,867
26,558
24,579
MEMO
42 Own foreign offices12 . .
1. Reporting banks include all types of depository institutions as well as some banks/
financial holding companies and brokers and dealers. Excludes bonds and notes of maturities
longer than one year. Effective February 2003, coverage is expanded to include liabilities of
brokers and dealers to affiliated foreign offices.
2. Non-negotiable deposits and brokerage balances.
3. Data available beginning January 2001.
4. Financial claims on residents of the United States, other than long-term securities, held
by or through reporting banks for foreign customers. Effective February 2003, also includes
loans to U.S. residents in managed foreign offices of U.S. reporting institutions.
5. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
6. Principally bankers acceptances, commercial paper, negotiable time certificates of
deposit, and short-term agency securities.
7. Data available beginning January 2001.
8. Principally the International Bank for Reconstruction and Development, the InterAmerican Development Bank, and the Asian Development Bank. Excludes "holdings of
dollars" of the International Monetary Fund. Beginning with data for June 2006, also
includes the Bank for International Settlements.
1,815,971' 1,865,898'
1,738,265
9. Foreign central banks and foreign central governments. Before June 2006, also includes
the Bank for International Settlements.
10. Excludes central banks, which are included in "Official institutions." Includes positions with affiliated banking offices also included in memo line (44) above.
11. As of February 2003, includes positions with affiliated non-banking offices also
included in memo line (44) above.
12. For U.S. banks, includes amounts owed to own foreign branches and foreign subsidiaries consolidated in the quarterly Consolidated Reports of Condition filed with bank
regulatory agencies. For agencies, branches, and majority-owned subsidiaries of foreign
banks, consists principally of amounts owed to the head office or parent foreign office, and to
foreign branches, agencies, or wholly owned subsidiaries of the head office or parent foreign
bank. Effective February 2003, includes amounts owed to affiliated foreign offices of U.S.
brokers and dealers.
Bank-Reported Data
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
47
Reported by Banks in the United States1—Continued
Millions of dollars, end of period
Apr.
May
July
Aug.r
Sept/
Oct
AREA OR COUNTRY
43 Total, all foreigners
2,315,606
2,911,516
3,080,496
3,391,548' 3,490,962" 3,331,109
3,391,209' 3,369,764
3,400,906
3,454,451
44 Foreign countries
2,301,457
2,895,862
3,059,703
3,371,997' 3,471,540" 3,297,952
3,361,809' 3,341,624
3,369,960
3,424,256
781,550
4,826
9,359
3,631
1,783
40,719
46,806
1,264
30,770
6,215
35,855
15,857
22,429
952
41,673
9,902
7,082
110,626
13,748
332,528
20,802
162
24,561
1,050,895
4,355
13,512
3,147
1,088
81,852
54,822
1,178
64,050
7,198
50,305
18,170
32,742
1,545
70,186
8,410
6,118
99,224
5,188
470,304
21,262
110
36,129
1,229,044
3,604
16,022
1,537
3,612
71,489
58,872
1,200
68,660
7,075
61,065
14,465
27,921
2,716
101,335
9,535
4,771
139,857
9,896
563,363
29,559
119
32,371
1,455,787' 1,509,955' 1,298,152
6,218
5,336
5,477
14,281
14,137
15,245
1,649
1,692
2,007
3,101
2,108
3,476
73,665
105,798'
106,732'
60,281
56,526
56,312
1,293
1,520
1,490
74,447
70,582
69,136
6,295
6,720
5,985
66,026
66,332
65,351
22,981
27,720
27,929
61,452
49,275
45,478
3,012
2,332
3,223
75,848'
74,285'
76,289
8,907
7,592
7,805
3,681
4,266'
3,702'
81,675
207,104
194,443
7,858
10,936
10,787
675,502
727,306'
697,385'
28,365
29,212
27,559
196
113
98
21,786
38,138
30,438
1,269,807' 1,237,534
5,817
4,336
16,760
15,060
1,833
2,233
1,040
1,243
72,884
78,137'
60,380
55,599
1,358
1,135
76,714
74,665
6,847'
7,197
67,185
67,943
23,737
26,298'
53,355
55,473
3,247
2,620
53,397
69,530
9,103
8,465
3,170
3,753
35,814
51,706
10,156
8,608
692,707
675,467'
27,051
27,093
202
236
22,658
25,131
1,236,405
3,855
14,940
2,329
942
68,106
57,191
1,565
75,118
5,826
73,581
23,245
57,219
2,441
49,160
7,503
3,838
39,696
9,850
691,779
27,660
249
20,314
1,247,194
3,880
15,854
1,022
855
66,783
55,373
1,389
75,348
7,181
73,488
28,795
41,057
2,502
45,982
9,083
5,016
27,197
9,159
721,803
33,243
307
21,878
n.a.
n.a.
1,031,458
1,043,018' 1,045,343
1,042,394
1,079,241
45 Europe
46
Austria
47
Belgium13
48
Denmark
49
Finland
50 France
51
Germany
52
Greece
53
Ireland
54
Italy
55 Luxembourg13
56
Netherlands
57
Norway
58 Portugal
59
Russia
60
Spain
61
Sweden
62
Switzerland
63 Turkey
64
United Kingdom
65
Channel Islands and Isle of Man14
66
Yugoslavia15
67
Other Europe and other former U.S.S.R."'
MEMO
68 European Union17
35,590
n.a.
39,011'
39,749
41,104'
43,552
44,716
47,913
145,422
10,211
19,581
11,151
11,144
2,768
1,574
42,678
5,779
3,186
5,185
21,599
10,566
155,892
10,054
16,827
12,543
11,249
2,690
1,425
53,133
5,382
3,313
5,523
22,543
11,210
159,002'
10,035'
18,462'
13,987
11,916'
2,737'
1,617
50,753'
5,818'
4,120
5,767
22,822'
10,968'
151,337
10,237
14,918
14,119
10,513
2,626
1,539
50,015
5,907
3,380
5,500
22,363
10,220
152,642
10,292
14,439
15,768
10,642
2,857
1,498
49,399
5,842
3,649
5,623
22,749
9,884
154,538
10,696
16,084
16,186
10,932
3,028
1,487
46,933
5,868
4,072
6,013
23,449
9,790
1,452,828' 1,455,651
228,300'
237,324
45,801
44,729
14,851
14,598'
1,135,919 1,128,078
127
127
937
828
5,948
6,420
2,698
2,856'
19,887
19,051'
,486,100
238,602
50,944
15,436
,151,138
127
1,047
6,155
2,760
19,891
1,531,470
241,825
50,082
16,295
1,192,332
128
832
6,159
2,832
20,985
34,248
33,186
41,530'
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
135,970
10,817
15,186
7,299
6,286
2,687
1,530
50,575
4,513
1,971
4,150
24,573
6,383
133,654
9,674
11,901
8,961
6,477
3,393
1,643
42,532
5,277
3,051
4,939
27,262
8,544
150,722
10,141
19,858
9,971
10,497
3,341
1,618
47,833
5,631
3,665
5,242
22,805
10,120
969,986
153,554
38,964
n.a.
739,204
96
669
8,689
1,253
27,557
1,212,209
186,097
92,577
n.a.
884,980
110
829
5,863
1,624
40,129
1,214,148
211,459
52,150
n.a.
907,910
120
916
6,397
2,830
32,366
373,024
420,635
408,333
366,246'
367,237
366,212
388,170'
401,155
403,661
400,475
13,236
49,557
14,534
14,373
12,223
162,003
12,647
1,683
26,808
7,226
23,626
35,108
52,767
42,788
11,154
5,903
11,214
167,008
12,421
2,949
26,496
11,355
38,257
38,323
46,462
34,006
13,736
4,212
9,802
156,249
27,095
3,777
23,253
9,965
49,467
30,309
29,593
29,831
14,222
5,819
8,057
132,210
23,167'
4,048
22,220
11,529
55,769
29,781
30,215
29,642
15,340
5,421
8,076
130,582
22,468
3,749
20,101
12,758
57,752
31,133
35,054
28,172
15,903
4,033
6,736
127,636
21,390
3,938
17,713
11,578
61,710
32,349
38,976
31,641
16,673
4,568
6,768
135,665
21,866
3,566
21,350
11,041
64,746'
31,310'
50,323
35,341
16,464
4,685
6,359
134,289
21,872
3,071
20,010
10,259
66,740
31,742
55,025
34,809
14,861
5,359
9,553
127,292
23,031
3,292
23,182
9,982
68,452
28,823
47,011
32,532
15,689
3,286
8,808
129,090
23,028
3,454
18,988
7,862
71,111
39,616
106 Africa
107
Egypt
Morocco
108
South Africa
109
110
Oil-exporting countri
Other
13,828
2,336
376
3,715
3,498
3,903
14,580
2,711
156
3,284
4,326
4,103
20,096
4,954
138
3,049
6,858
5,097
17,175
4,412
211
1,766
5,443
5,343
18,113
3,425
122
1,627
7,676
5,263
18,442
4,228
154
1,602
6,918
5,540
19,799
3,409
208
1,610
6,919
7,653
19,688
2,772
198
1,892
7,830
6,996
18,350
2,325
174
1,452
8,277
6,122
13,825
1,576
162
1,357
4,448
6,282
112 Other countries
113 Australia
114
New Zealand22
115 All other
16,913
14,020
2,465
428
27,325
23,391
3,429
505
21,242
17,769
3,007
466
28,900
23,457
4,579
864
32,687
26,958
4,988
741
30,274
25,143
4,485
646
31,099
25,919
4,351
829
32,707
27,033
4,844
830
28,086
22,021
5,206
859
28,841
23,482
4,038
1,321
116 International and regional organizations .
117
International23
118
Regional24
14,149
10,500
3,649
15,654
11,542
4,112
20,793
15,684
5,109
19,551
14,112
5,439
19,422
14,909
4,513
33,157
28,330
4,827
29,400'
24,363'
5,037
28,140
21,945
6,195
30,946
25,721
5,225
30,195
25,070
5,125
69 Canada
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 America15
83 Caribbean
84
Bahamas
85
Bermuda
86
British Virgin Islands15
87
Cayman Islands19
88
Cuba
89 Jamaica
90
Netherlands Antilles
91
Trinidad and Tobago
92
Other Caribbean15
93 Asia
China
94
Mainland
95
Hong Kong
96
India
97
Indonesia
98
Israel
99 Japan
100
Korea (South)
101
Philippines
102
Taiwan
103 Thailand
104
Middle Eastern oil-exporting countries20
105
Other
13. Before January 2001, data for Belgium-Luxembourg were combined.
14. Before January 2001, these data were included in data reported for the United
Kingdom.
15. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
16. For data prior to June 2006, also includes the Bank for International Settlements and
the European Central Bank.
17. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain. Sweden, and the United Kingdom. Data available beginning in June 2006.
,311,637' 1,359,115' 1,389,231
218,879'
232,205'
226,691
52,526
48,125
45,588
n.a.
n.a.
15,465
994,487' 1,029,490' 1,069,042
125
123
124
843
756
818
9,865
10,188
8,479
3,034
2,930
2,896
35,106
18,769
33,429
18. Before January 2001, data for "Other Latin America" and "Other Caribbean" were
combined in "Other Latin America and Caribbean." Before June 2006, data for the British
Virgin Islands were included in "Other Caribbean."
19. Beginning January 2001, data for the Cayman Islands replaced data for the British
West Indies.
20. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
21. Comprises Algeria, Gabon, Libya, and Nigeria.
22. Before January 2001, these data were included in "All other."
23. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund. Beginning with data for June 2006,
also includes the Bank for International Settlements.
48
Federal Reserve Bulletin Statistical Supplement • December 2006
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
1 Total, all foreigners
1,664,223
2,085,699'
2,042,757
2 Foreign countries
1,658,247
2,078,869'
2,138,882' 2,032,910
Aug.
Sept.
2,054,914'
Oct
2,151,362
2,059,813' 2,048,079' 2,077,848' 2,143,049
806,546
4,429
7,751
735
11,840
90,941
26,196
94
14,023
16,906
5,864
22,090
25,517
1,576
1,089
8,452
17,027
114,167
2,542
404,844
26,878
3,585
918,574
4,109
11,886
864
9,247
88,873
30,027
97
16,426
18,482
8,201
20,907
14,688
832
1,264
8,372
9,452
143,891
3,270
487,502
32,566
7,618
1,074,728'
4,551
18,379
1,369
9,691
105,981'
26,578
120
16,951
16,759'
10,124
23,214
21,196
757
1,256'
10,105
13,531'
195,010
3,203
556,781'
32,106'
7,066
1,094,984'
4,825'
20,852
828
8,638
120,347'
22,313
168
16,962
18,432'
10,303
25,427
24,089
976
1,380'
7,745
11,974'
198,605
3,100
559,794'
30,144'
8,082
1,005,236
4,817
18,777
1,295
11,128
105,320
20,467
129
15,913
18,789
10,260
23,883
24,613
830
1,390
7,717
9,249
115,678
3,293
575,363
29,277
7,048
999,548'
5,127
14,295
773
11,742
103,489'
21,159
125'
16,110
20,438
9,881
31,803
25,049
799
1,509
7,546
10,187
138,479
3,406
541,784
29,864
5,983'
987,900'
6,139
13,185
944
8,495
96,245'
19,859
170'
19,722
23,705
10,097
22,182
26,840
801
1,656
8,102
10,140
108,445
3,421
572,941'
29,790
5,021'
1,039,180
4,105
13,775
300'
12,739
103,456
16,590
156
19,125
25,425
10,064
24,259'
26,988
832
1,667
9,714
10,122
132,160
3,611
587,855
30,272
5,965
1,060,533
5,322
12,901
426
10,230
105,888
18,721
174
21,603
25,978
9,705
27,635
28,146
840
1,576
12,344
11,317
148,178
3,467
580,205
31,230
4,646
52,140
51,088
63,422
65,488
59,073
67,075
64,943'
73,622'
64,536'
70,219
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
51,173
2,290
15,111
6,642
2,438
582
872
14,604
2,076
1,226
464
2,273
2,595
54,399
2,209
16,875
6,814
2,727
542
996
15,872
2,067
1,178
425
2,104
2,590
52,418
2,350
15,370
6,983
2,593
564
956
15,438
2,090
1,232
414
2,013
2,415
54,545
2,348
15,585
6,900
2,620
541
892
17,316
2,449
1,240
412
1,989
2,253
53,988'
2,570'
16,290
6,503
2,549
536'
845
16,519'
2,341
1,194
407
2,013'
2,221'
55,634'
2,193'
18,532
6,427
2,597
551'
845
16,440'
2,210
1,298
353
1,948'
2,240'
53,380'
2,170
14,386
6,758
2,671
579
883
17,088
2,314
1,320'
517
2,369
2,325'
63,061
3,324
23,017
6,649
2,645
583
918
17,092
2,245
1,500
407
2,230
2,451
492,705
73,709
14,889
n.a.
391,524'
377
6,629
665
4,912
596,931
80,183
33,294
n.a.
469,166'
351
5,554
755
7,628
620,474
113,458
17,846
n.a.
475,227'
444
4,444
907
8,148
701,553'
133,134'
20,220'
n.a.
532,827'
454
4,464
854
9,600
735,713'
156,081'
19,704'
n.a.
538,807'
523
4,557
870
15,171
704,691
161,802
19,776
2,760'
511,093'
569'
4,276
902
3,513
735,167'
158,311
23,687
2,149'
537,352'
520'
7,127
787
5,234'
709,169'
156,648
22,208
2,277'
513,286'
674'
8,009
730
5,337'
687,262'
135,513
21,574
2,179'
517,768'
665'
3 945'
745
4,873'
724,579
140,932
21,668
3,204
549,316
645
2,417
807
5,590
119,562
142,656
190,589
169,973'
181,387'
185,805
190,837
204,827
216,927
207,254
4,134
7,190
1,588
838
5,122
62,059
11,395
1,693
9,659
989
6,782
8,113
9,267
5,622
2,117
555
1,326
82,207
15,531
993
10,589
1,144
7,022
6,283
14,780
8,398
2,518
440
4,288
106,377
17,274
1,790
8,626
7,796
12,330
5,972
15,341
6,947
2,549
436
5,414
96,269
16,263
954
5,389
6,937
8,298'
5,176
14,885
7,623
2,043
433
5,580
105,058
17,463
917
6,027
8,881
8,080'
4,397
19,556
9,768
1,835
551
3,986
103,439
17,509
1,247
4,004
7,825
10,294
5,791
21,194
9,044
1,985
378
4,077
104,852
20,639
846
4,558
7,315
10,805
5,144
19,603
9,438
2,174
367
5,199
119,158
18,658
1,093
4,790
7,016
11,427
5,904
15,223
9,190
2,646
439
4,851
124,121
28,978
1,094
5,563
7,342
10,585
6,895
8,043
9,040
2,343
506
8,616
128,253
23,461
847
4,082
5,953
9,672
6,438
62 Africa
63 Egypt
64
Morocco
65
South Africa
66
Oil-exporting countries9
67
Other
1,453
236
46
453
147
571
1,262
228
53
318
223
440
1,621
422
63
331
317
488
1,686
470
55
296
297
568
1,751
466
81
338
303
563
1,948
587
75
435
297
554
2,073
608
59
576
312
518
1,888
603
69
309
332
575
601
48
282
323
726
1,837
589
95
259
345
549
68 Other countries
69
Australia
70
New Zealand10
71
Allother
8,897
8,037
819
41
10,386
9,695
609
82
10,903
10,184
541
178
11,042
10,117
589
336
13,556
12,634
469
453
13,610
12,381
827
402
13,257
12,480
615
162
15,039
14,173
656
210
14,583
13,464
901
218
15,566
14,348
1,004
214
72 International and regional organizations" ..
5,071
5,976
7,250
6,830
7,631
9,847
6,352
6,835
8,670
8,313
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Ireland
12
Italy
13 Luxembourg2
14
Netherlands
15
Norway
16 Portugal
17
Russia
18
Spain
19
Sweden
20
Switzerland
21
Turkey
22
United Kingdom
23
Channel Islands and Isle of Man3
24
Other Europe and other former U.S.S.R.4
591.018
4,819
6.910
2,814
8,160
63,719
25,811
238
10,354
7,310
5,512
21,415
17,666
2,106
1,233
2,295
15,269
78,716
2,149
268,822
43,099
2,601
MEMO
25 European Union5
26 Canada
27 Latin America
28 Argentina
29
Brazil
30
Chile
31
Colombia
32
Ecuador
33
Guatemala
34
Mexico
35 Panama
36
Peru
37
Uruguay
38 Venezuela
39
Other Latin America1"
40 Caribbean
41
Bahamas
42
Bermuda
43
British Virgin Islands'"
44
Cayman Islands7
45
Jamaica
46
Netherlands Antilles
47
Trinidad and Tobago
48
Other Caribbean1"
49 Asia
China
50
Mainland
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Taiwan
59
Thailand
60
Middle Eastern oil-exporting countries5 .
61
Other
n.a.
1. Reporting banks include all types of depository institutions as well as bank/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border brokerage
balances.
2. Before January 2001, combined data reported for Belgium-Luxembourg.
3. Before January 2001, data included in United Kingdom.
4. For data prior to June 2006, also includes the Bank for International Settlements and the
European Central Bank.
5. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain, Sweden, and the United Kingdom. Data available beginning in June 2006.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and Caribbean." Before June 2006, data for the British
Virgin Islands were included in "Other Caribbean."
7. Beginning 2001, Cayman Islands replaced British West Indies in the data series.
8. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
9. Comprises Algeria, Gabon, Libya, and Nigeria.
10. Before January 2001, included in "All other."
11. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
Bank-Reported Data
3.19
BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Payable in U.S. dollars
49
Reported by Banks in the United States1
Millions of dollars, end of period
2006
Type of claim
2003
2004
2005
1 Total claims reported by banks
1,596,965
2,026,841
2,288,369
2 Banks' own claims on foreigners
3
Foreign official institutions2
4
Foreign banks3
5
Other foreigners4
1.322.363
53,328
979.597
289,438
1,664,223
71,892
1,187,954
404,377
1,864,006
72,871
1,391,180
399,955
274,602
129,787
71,791
63,225
9,799
362,618
152,520
107,533
88,423
14,142
424,363
172,727
91,196
140,863
19,577
Apr.'
6 Claims on banks' domestic customers5
7
Non-negotiable deposits
8
Negotiable CDs
9
Other short-term negotiable instruments'" . .
May'
June
July'
Aug.'
2,550,690
2,085,699
75,511
1,582,568
427,620
2,146,513
82,061
1,620,416
444,036
2,042,757
82,941
1,539,635
420,181
Sept.'
Oct.'
2,644,004
2,066,165
85,304
1,553,717
427,144
2,054,914
85,213
1,543,341
426,360
507,933
218,775
109,700
155,604
23,854
2,086,518
97,106
1,573,304
416,108
2,151,362
84,990
1,627,129
439,243
557,486
200,929
141,757
191,609
23,191
MEMO
11 Non-negotiable deposits7
500,085
376
668,255
3,970
747,930
2,804
862,604
2,210
922,198
1,990
898,755
2,572
892,468
2,214
883,383
2,505
899,274
2,790
924,667
2,678
13 Other short-term negotiable
instruments7
14 Other claims7
15 Own foreign offices5
5,328
816,574
934,166
3,888
988,110
1,097,873
7,276
1 105 996
1,303,731
11,883
1 209 002
1,489,439
11,619
1 210 706
1,538,292
8,509
1 132 921
1,479,119
10,890
1 160 593
1,440,187
10,938
1 158 088
1,449,752
7,725
1 176 729
1,513,446
12,427
1 211 590
1,549,473
16 Loans collateralized by repurchase
agreements9
344,753
479,422
481,470
506,126
521,695
504,427
518,283
522,290
521,788
523,619
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 2006
3.22
LIABILITIES TO UNAFFILIATED FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.
1 Total
67,664
73,700
By type
2 Financial liabilities
3
Short-term negotiable securities'
39.561
n.a.
43,610
14,002
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
14
15
16
17
18
19
20
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
71,802
62,847
11,759
51,809
9,027
35,918
9,576
29,347
5,438
39,249'
9,050'
n.a.
n.a.
n.a.
n.a.
75,888'
77,775
34,707'
5,454'
33,293
6,334
n.a.
n.a.
8,561
10,099
18.844
20,717
n.a.
n.a.
n.a.
n.a.
n.a.
15,515
28,095
1,431
10,372
11,425
2,493
2,374
29,575
33,272
2,399
9,067
18,337
1,564
1,905
19,378
32,431
2,296
11,159
15,532
1,379
2,065
21,917
14,001
1,786
4,604
2,202
1,222
4,187
17,794
11,553
1,860
4,017
2,741
1,401
1,534
24,003'
15,246'
2,354
4,052
3,169'
2,018
3,653
19,631'
15,076
1,407
6,242
2,676
1,338
3,413
19,160
14,133
1,064
3,564
2,963
1,212
5,330
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
38,690
775
1,349
2,911
363
514
29,473
35,304
590
1,550
5,276
413
282
25,017
22,474
633
1,087
2,832
128
114
13,091
16,799
547
1,044
2,425
379
53
9,861
22,697'
342
761
2,533
406
124'
12,712'
16,719
451
597
3,062
432
237
9,648
16,685
340
1,328
2,410
453
371
10,431
6,134
5,794
MEMO:
21
22
9,855
9,413
6,175
591
1,239
2,433
2,283
2,080
2,058
2,530'
1,897'
1,565
1,504
23
990
65
365
n.a.
31
4,235
0
711
242
n.a.
3,114
34
16,196
0
8,715
208
n.a.
7,178
26
18
9,076
0
801
263
n.a.
7,871
30
11
8,012
0
115
240
6,679
0
77
69
n.a.
6,489
28
0
7,603'
0
991
70
n.a.
6,446
25
1
9,683'
0
769
56
n.a.
8,744
23
8,590
1
238
69
n.a.
8,189
28
2,932
1,832
14
2,547
1,826
36
4,724
1,648
36
4,347
1,365
3,211
1,161
2
3,640
1,304
35
5,323
1,383
173
5,321
1,083
206
5,612
1,265
647
131
91
123
92
131
94
132
95
107
96
122
96
997
97
1,022
98
791
0
Euro area3
Canada
23
24
25
26
27
28
29
30
31
32
33
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
34
35
Africa
Oil-exporting countries'"
36
All other7
7,569
8
Nonbank-Reported Data
3.22
LIABILITIES TO UNAFFILIATED FOREIGNERS
the United States—Continued
51
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.
37 Commercial liabilities
38
Trade payables
39
Advance payments and other liabilities . . . .
40
41
42
43
44
45
46
47
48
49
50
51
52
53
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial liabilities
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
28,103
14,699
13,404
30,090
17,174
12,916
29,162
18,181
10,981
32,756
21,321
11,435
35,884
22,497
13,387
37,121
23,785
13,336
37,461
23,050
14,411
41,181
26,199
14,982
44,482
29,281
15,201
26,243
1,860
n.a.
n.a.
n.a.
n.a.
n.a.
27,632
2,458
199
787
606
209
657
25,811
3,351
224
1,058
704
296
1,069
29,533
3,223
200
1,026
634
314
1,049
33,010
2,874
143
1,028
585
119
999
34,513'
2,608'
155'
1,014'
391'
284'
764'
34,725'
2,736'
171
989'
471'
308'
797'
38,233
2,948
182
1,142
484
300
840
41,007
3,475
742
1,158
415
304
856
8,257
141
765
781
590
433
2,649
9,821
159
900
855
384
1,367
3,025
9,030
123
1,019
1,024
305
564
3,407
9,861
100
1,600
1,020
322
739
3,376
10,729
103
1,669
965
402
893
3,203
11,344
124
1,816
1,006
329
1,106
3,442
10,574
109
1,870
1,113
489
1,113
2,882
11,373
86
2,004
1,092
625
708
3,526
11,599
138
1,921
1,245
422
911
3,328
5,836
MEMO
54
55
4,198
4,413
5,075
5,405
5,523
1,588
2,166
2,145
2,143
2,179
2,836
2,375
2,855
3,611
3,073
51
538
253
36
n.a.
1,170
177
3,406
14
513
233
4,894
66
511
97
n.a.
29
2,154
640
5,360
79
774
127
5,748
70
713
218
n.a.
76
2,209
7,101
64
851
220
76
2,210
522
5,228
74
621
143
n.a.
100
1,921
738
5,763
82
688
163
40
1,298
329
4,276
32
515
113
n.a.
101
1,942
433
219
2,746
499
629
2,798
467
13,382
4,292
3,979
13,311
4,370
3,148
12,239
4,221
2,910
14,339
5,317
3,855
16,127
5,671
4,221
16,408
5,892
3,862
17,427
5,971
3,986
19,956
6,089
5,431
20,395
6,182
5,344
827
405
782
372
947
424
935
447
1,009
627
851
459
916
493
714
342
1,296
755
Euro area3
Canada
56
57
58
59
60
61
62
63
64
65
66
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
67
68
Africa
Oil-exporting countries'"
69
All other7
1. Data available beginning March 2003. For data on borrowings and repurchase agreements, data available on a consistently defined basis beginning in June 2006.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
52
Federal Reserve Bulletin Statistical Supplement • December 2006
3.23
CLAIMS ON UNAEFILIATED FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
Total .
By type
2 Financial claims
3
Non-negotiable deposits .
4
Negotiable securities
Of which:
5
Negotiable CDs'
6
Other claims
Of which:
7
Loans'
8
Repurchase agreements'
9
10
11
12
13
14
15
16
17
18
19
20
21
22
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling .
Japanese yen
All other currencies
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
102,566
100,916
71.389
n.a.
n.a.
67,347
35,465
3,204
n.a.
44,064
157
28,678
146,034
129,812
110,517
47,270
9,892
113,673
51,735
11,912
97,140
48 354
8,894
104,213
49,477
11,845
111,394
50,149
13,180
103
53,355
94
50,026
173
39,892
82
42,891
65
48,065
129,849'
n.a.
n.a.
n.a.
n.a.
94,843
40,565
12,365
98,694
42,436
12,787
18
43,471
n.a.
n.a.
14,199
7,298
65,070
6,319
n.a.
n.a.
n.a.
n.a.
57,894
9,453
912
2,776
3,242
831
1,692
67,445
43,072
1,329
20,651
9,219
7,345
4,528
69,849
43,824
7,216
17,593
7,687
6,111
5,217
61,778
35,362
10,031
9,331
7,527
3,826
4,647
66,405
37,808
10,837
10,256
8,695
3,880
4,140
75,802
35,592
9,348
9,308
7,635
3,537
5,764
60,724
34,119
7,823
8,160
8,325
3,510
6,301
75,526
23,168
8,549
4,953
4,726
610
4,330
29,018
722
3,247
4,245
3,648
383
10,663
28,970
391
3,049
2,859
2,789
617
11,438
48,714
2,177
1,452
5,386
7,389
978
23,982
53,001
2,651
3,177
7,126
7,692
827
25,105
38,627
1,930
4,593
3,040
1,696
1,185
17,414
41,844
784
4,323
1,967
3,271
1,249
21,870
42,736
1,743
2,752
2,729
3,033
1,152
22,111
36,023
1,286
1,639
2,315
3,148
1,441
20,096
36,998
580
2,867
2,453
1,721
1,409
22,340
25,235
17,005
5,013
5,311
6,412
11,361
11,905
14,290
13,372
12,052
13,072
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
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
38,915
3,436
1,316
1,480
n.a.
30,437
1,384
62
39,763
3,676
1,113
1,664
n.a.
30,263
1,950
156
45,063
1,590
1,590
1,950
n.a.
36,355
2,019
159
37,323
2,368
1,572
1,655
29,238
1,424
163
38,390
3,802
1,597
1,703
n.a.
29,145
1,182
148
5,358
1,277
79
5,317
1,194
158
6,840
993
137
7,680
981
133
6,120
784
114
6,546
610
93
7,223
568
242
6,566
496
251
7,518
665
705
395
25
419
12
290
16
282
23
345
55
1,291
37
1,268
36
1,123
36
MEMO:
23
Euro area3
24
Canada
25
26
27
28
29
30
31
32
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
33
34
35
Asia
Japan
Middle Eastern oil-exporting countries5
36
37
Africa
Oil-exporting countries'" . .
38
All other7
1,993
12,106
Nonbank-Reported Data
3.23
CLAIMS ON UNAEFILIATED FOREIGNERS
the United States—Continued
53
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
39 Commercial claims
40
Trade receivables
41
Advance payments and other claims
42
43
44
45
46
47
48
49
50
51
52
53
54
55
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
32,361
27,844
4,517
32,672
28,576
4,096
31,126
27,535
3,591
33,556
29,231
4,325
35,006'
30,534'
4,472
36,612
32,267
4,345
31,177
26,385
4,792
33,569
28,618
4,951
32,715
29,229
3,486
26,481
4,696
n.a.
n.a.
n.a.
n.a.
n.a.
25,494
8,075
1,557
1,542
1,187
589
3,200
27,439
5,276
512
1,561
1,586
238
1,379
27,608
4,753
499
1,530
1,110
239
1,375
28,347
4,325
407
1,442
1,098
153
1,225
27,881'
3,245'
341'
1,167'
509'
196'
1,032'
29,898
3,658
481
1,335
706
187
949
30,867'
4,139
444
1,777
736
126
1,056
32,959
3,653
465
1,424
692
150
922
14,187
269
3,164
1,202
1,490
503
3,727
14,552
247
2,816
1,273
395
1,921
3,928
13,457
257
2,261
1,401
494
1,528
3,742
13,369
366
2,865
1,476
490
1,283
3,295
13,096
402
2,233
1,477
461
1,319
3,119
12,183
396
2,023
1,438
339
1,358
3,053
12,084
470
2,311
1,509
354
724
2,677
14,480'
480
2,308
1,472
649'
743
4,601
14,055
419
2,404
1,681
480
666
4,094
7,412
6,739
7,923'
8,300
2,790
3,070
2,017
2,137
2,139
2,001
2,750
2,323
2,730
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
6,477
55
650
935
n.a.
160
2,018
319
6,509
41
591
1,049
n.a.
75
1,859
365
6,310
29
581
952
143
1,838
393
6,524
27
498
1,028
n.a.
294
1,812
390
6,757
41
648
1,022
n.a.
61
2,089
380
6,993'
35'
731
947'
n.a.
200
2,220'
409'
7,866
39
1,166
981
n.a.
488
1,897
378
7,324
2,341
818
7,352
1,757
8,943
1,855
1,071
8,447
1,918
1,146
9,245
1,930
1,317
8,561
1,717
1,271
10,073
2,128
1,558
9,196
2,167
1,419
10,196
2,159
1,843
584
95
636
138
629
154
767
205
873
226
788
234
830
258
917
313
964
315
MEMO
56
57
7,340
Euro area3
Canada
58
59
60
61
62
63
64
65
66
67
68
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
69
70
Africa
Oil-exporting countries'"
71
All other7
52
1,339
230
1,946
1. Data available beginning March 2003. For data on loans and repurchase agreements,
data available on a consistently defined basis beginning in June 2006.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
54
Federal Reserve Bulletin Statistical Supplement • December 2006
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.Oct.
Apr.
May
July
Aug.
Sept.
U.S. corporate securities
STOCKS
1 Foreign purchases
2 Foreign sales
3 Net purchases, or sales (-)
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Foreign countries
Of which: by foreign official institutions . . .
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters1
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
3,862,043
3,833,567
4,740,672
4,660,298
5,102,575
4,995,387
456,731
450,138
609,929
607,225
551,041
555,012
478,553
468,121
527,451
523,071
490,945'
482,392
575,453
554,441
28,476
80,374
107,188
6,593
2,704
-3,971
10,432
4,380
8,553'
21,012
28,616
2,239
80,417
954
107,147
8,361
6,590
3,396
2,702
1,168
-3,971
1,178
10,430
1,625
4,377
207
8,550'
-682
21,013
-407
19,571
-348
-876
-2,360
2,153
4,534
1,697
-1,194
15,208
-180
1,292
-98
729
6,485
-320
-307
-778
2,832
-41
998
38,016
5,757
7,675
-3,278
1,660
7,924
-2,326
1,334
18,199
350
16,549
-103
15,414
1,789
8,399
-528
1,050
72
281
72
74,296
2,674
17,875
-3,705
86
10,012
-3,823
2,122
46,750
966
10,694
1,863
11,980
8,232
-428
97
363
227
85
425
5,570
646
3,936
-707
-172
3,387
-1,024
-44
-920
-43
-535
167
-1,522
3,324
-639
-87
-262
-117
101
124
-1,314
1,920
-1,621
-912
1,214
1,955
-766
-517
-2,878
67
762
793
483
120
1,979
-1
41
583
71
-192
-3,483
190
-870
-4,303
32
237
13
-347
1,021
1,195
2,754
-140
-5,164
771
1,323
-22
305
447
-5
-27
4,032
-67
206
-87
345
415
17
138
3,009
136
1,955
-133
3,563
1,078
-315
12
482
-310
-4
254
6,000
375
2,239
-819
-182
252
169
513
2,980
-149
14
-208
-2,013
491
48
-50
26
434
1
44
9,103'
167
893
-299
25
93
267
-222
8,870'
-148
355
68
1,564
-300
-2,285
-52
-252
-790
-87
132
13,168
-399
6,128
1,267
-560
426
-2,005
-379
9,107
-88
915
200
8,691
418
-1,993
403
-55
-741
1,209,381
982,980
1,098,131
878,697
1,155,474
915,000
116,264
101,127
138,544
103,928
114,660
91,738
113,287'
94,782'
115,575'
84,144'
114,314'
88,725'
115,699
100,503
-275
26 International and
regional organizations2
U.S. GOVERNMENT AGENCY BONDS
27 Foreign purchases
28 Foreign sales
34,616
22,922
225,522
20,750
219,434
219,161
31,589
240,170
68,629
15,106
5,509
34,545
8,521
22,776
5,209
18,596'
11,844
31,565'
9,764
25,585'
7,872
15,141
5,260
84,230
5,649
-239
-123
4,224
799
-163
3,008
53,183
575
5,980
8,591
29,593
4,353
92,077
16,387
11,289
44,442
61
637
55,564
-398
500
5,938
3,591
1,583
1,259
-1,971
40,819
54
12,553
15,473
17,304
1,810
115,952
23,026
16,289
59,201
-103
608
74,042
-48
-1,052
3,396
3,436
5,166
-816
-141
43,017
543
9,294
6,966
26,920
6,136
115,727
34,592
27,378
42,739
-59
1,144
7,433
14
93
116
33
608
86
7
4,494
-74
184
406
-2,726
1,041
8,594
3,467
1,980
3,205
1
173
9,603
28
-711
-245
502
696
92
-48
5,345
-42
789
1,290
6,024
1,030
15 739
3,545
2,685
8,724
-11
81
11,079
-7
-404
370
1,463
595
-363
-90
7,406
-45
1,895
894
-2,843
369
11,179
5,345
2,395
3,495
31
172
-2,863'
-44
128
-286'
455
655'
-62
40
-3,044'
-59
1,135
3,465'
4,370'
925
11,232'
4,133
2,207
4,273'
-25
357
10,288
-19
344
84
481
323
52
21
5,251
284
400
-267
5,720
1,443
14,062'
4,948
3,699
3,214'
-19
-62
8,714
3
759
436
819
1,028
-39
21
4,708
13
919
810
3,967
575
10,579'
2,545
1,422
5,004'
4
17
6,611
-45
8
190
-583
-149
-368
215
3,477
501
698
-87
1,050
1,171,415
861,915
1,277,006
904,784
1,230,524
843,781
108,176
70,820
134,568
92,592
127,324
87,295
90,218
71,179'
122,925
85,503
150,262'
91,595'
139,419
99,920
29 Net purchases, or sales (-)
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Foreign countries
Of which: by foreign official institutions .
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
31,431'
15,196
6,784
1,156
2,363
3,857
25
49
52 International and
regional organizations2
CORPORATE BONDS 3
53 Foreign purchases
54 Foreign sales
41,976
40,029
307,900
11,464
369,370
19,035
385,472
21,588
37,310
1,675
41,869
2,359
40,041
1,575
19,114'
1,004
36,985
2,748
58,693'
1,835
39,489
2,006
172,033
5,838
7,608
12,247
10,222
5,787
2,092
3,964
107,060
5,902
6,115
19,858
47,952
349
59,781
12,337
5,714
33,463
451
1,361
241,709
3,625
13,156
6,488
12,184
4,610
2,772
3,742
168,881
16,570
2,279
7,203
40,488
1,022
69,910
26,130
11,012
25,617
394
6,365
247,120
-289
15,930
2,240
11,398
3,902
2,715
7,003
7,003
9,446
5,562
8,593
57,717
4,385
54,770
24,278
11,784
8,018
229
7,096
20,790
-1,430
791
922
1,156
882
247
39
15,409
788
372
554
7,669
353
5,747
2,720
1,098
795
61
1,764
29,994
1,970
1,116
1,064
12
1,694
130
-515
22,698
1,470
905
669
3,543
707
5,929
2,823
1,366
303
-62
184
26,302
-200
798
709
1,620
689
453
1,480
18,833
1,233
1,147
1,030
4,939
938
4,869
2,293
1,140
-166
60
756
8,466
-395'
1,535
-354'
788
-141'
76
1,220
6,028'
-283
-604
440'
5,737
633
4,520
1,529
1,411
933
22
-100
18,930
-1,458
2,910
31
423
-386
145
1,015
14,345
-81
440
1,578
8,526
946
6,473
2,319
1,006
2,055
116
-24
45,419'
162
3,029
836
3,118
1,972
74
635
30,933'
3,108
776'
1,024
7,145
-486
3,982
1,869
669
268
63
770
25,083
-138
3,423
-2,948
1,434
-519
1,135
1,139
19,782
883
-158
977
7,588
-56
5,691
1,367
1,776
1,468
31
1,600
2,852
1,271
372,222
55 Net purchases, or sales (-)
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
Foreign countries
Of which: by foreign official institutions
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
78 International and
regional organizations3
39,499
37,422
Securities Holdings and Transactions
3.24
55
FOREIGN TRANSACTIONS IN SECURITIES—Continued
Millions of dollars
Transaction, and area or country
Jan.Oct.
Apr.
May
Aug.'
Sept/
5,830
271,321
265,491
-8,818
266,303
275,121
Foreign securities
79 Stocks, net purchases or sales (-)
4
-84,970
1,664,076
1,749,046
-127,296
2,240,104
2,367,400
83 Foreign purchases
1,459,043
1,526,915
84 Foreign sales
85 Net purchases, or sales (-) of stocks and bonds4 . ..
80 Foreign purchases
81 Foreign sales
-65,384
2,868,896
2,934,280
-8,098
268,954
277,052
1,459,882
1,504,977
1,434,550
1,528,712
129,758
137,877
168,141
183,785
139,733
150,072
119,311
138,179
135,069
144,948
139,731
153,281
156,050
163,847
-152,842
-172,391
-159,546
-16,217
-20,494
-9,220
-22,222
-4,049
-22,368
-19,684
-141,025
-124,892
-2,516
-111 ,464
-5,492
-952
10,136
-12,814
-20,640
1,591
-8,602
-165,403
-81,669
-15,952
-46,382
-4,559
-23,487
5,474
-45,551
-32,842
-1,668
-13,943
-164,112
-143,856
-32,363
-103,932
-16,113
-7,946
13,665
-3,511
6,730
-1,227
-5,124
-16,300
-7,975
-6,200
-3,045
-3,131
99
1,598
-3,803
434
-1,312
-1,776
-20,435
-22,514
-2,506
-18,666
-853
219
-2,157
4,771
4,515
128
-29
-9,171
-20,404
-8,326
-11,491
2,051
405
1,644
7,650
3,178
155
-672
-21,851
-24,704
-9,010
-17,104
-1,539
533
-407
2,919
1,068
304
1,043
-6,799
-10,502
708
-8,440
-3,309
974
974
4,941
1,539
-59
182
-24,409
-20,590
-3,427
-17,127
-837
30
678
-2,149
-861
107
-1,648
-19,731
-18,901
-4,090
-9,046
-1,294
-2,482
5,283
-1,402
-722
302
-1,237
-45,095
82 Bonds, net purchases or sales (-) 4
86
87
88
89
90
91
92
93
94
95
96
97
Foreign countries
Europe
Euro Area5
United Kingdom
Canada
Latin America
Caribbean
Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations2
-3,354
246,082
249,436
1,119
307,312
306,193
-15,644
-18,868
-11,887
327,537
339,424
-13,550
2,041
1. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
2. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
3.25
-4,850
371,188
376,038
MARKETABLE U.S. TREASURY BONDS AND NOTES
3. Includes state and local securities. Also includes issues of new debt securities sold
abroad by U.S. corporations organized to finance direct investment abroad.
4. Net foreign sales (-) of foreign securities are equivalent to net U.S. purchases of foreign
securities.
5. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.Oct.
Apr.
May
July
Aug.
Sept.
1 Total reported
352,079
338,543
142,972
3,356
8,185
27,013
8,048r
44,779r
2 Foreign countries
3
Of which: by foreign official institutions .
351,360
201,140
335,591
68,475
142,386
55,703
2,950
10,961
7,425
-13,635
27,501
-4,702
7,677'
8,240
44,900'
16,886
-222'
7,706
26,463
18,463
88,431
118
-10,219
8,804
933
-575
-3,153
10,046
3,236
5,342
78,661
1,175
-5,937
16,098
173,638
500
9,559
14,497
1,246
2,046
-6,095
6,414
1,832
-4,904
134,118
419
14,006
21,419
70,964
555
-3,734
2,110
2,017
-714
-896
3,079
682
-158
61,348
206
6,468
19,968
-13,818
434
-1,875
1,413
-1,078
140
-138
-2,387
181
121
-11,064
-473
908
1,218
944
19
1,249
260
1,224
5
-94
-11,545
108
-16
8,343
242
1,149
4,512
22,782
-345
-1,200
1,198
701
-551
526
-6,493
10
59
26,306
1
2,570
594
-2,531'
147'
-2,356
1,200
0'
85'
-1,089'
7,497
191
-289
-11,383
76
3,390'
809
14,190
113
-1,803
818
1,475
-550
-830
4,003
32
238
10,626
-128
196
5,801
7,096'
-370
-2,430
1,375'
-521
595
729
1,922
-547
-438
6,896'
-235
120'
2,001'
20,927
-91
5,379
-38
655
-265
410
13,370
-908
25
-24
234
2,180
-1,388
11,018
1,543
8,352
-15
1,138
23,368
12,269
9,756
518
825
21,039
17,630
4,529
-28
-1,092
-142
-895
1,027
-29
-245
4,952
2,468
2,690
17
-223
-3,291
424
-4,115
1
399
-1,447'
-1,643
678'
-48
-434'
10,214
11,244
-1,670
-18
658
3,265
1,990
592
-22
705
491
1,434
-874
43
-112
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Norway
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man
Other Europe and former U.S.S.R. . . .
Canada
18
19
20
21
22
Latin America
Brazil
Mexico
Venezuela
All other Latin America
23
Caribbean
24
25
26
27
28
29
30
Asia
China, Mainland
Hong Kong
Japan
Korea
Middle East Oil Exporters2
All other Asia
31
Africa
32
African oil exporters3
33
Other countries
34
International and regional organizations .
22,526
46,401
-21,561
-904
-3,089
2,482
8,464
-3,291
214,788
18,895
1,079
166,377
5,856
9,041
13,540
67,377
37,369
12,313
-5,955
1,459
2,063
20,128
50,320
31,220
13,885
-3,993
8,426
4,081
-3,299
17,169
3,885
2,751
3,905
382
611
5,635
-409
1,143
-868
1,685
623
728
-3,720
4,602
3,098
431
1,268
1,019
1,606
-2,820
2,281'
1,741'
-182
398'
1,220
133
-1,029'
16,828'
4,953
1,961
11,365'
-922
-540
11
677
249
2,222
2,027
3,967
3,148
286
366
122
258
406
769
460
417
-2,178
1,166
-2,311
-859
393
-74
719
2,952
586
406
760
-488
1. Official and private transactions in marketable U.S. Treasury securities having an
original maturity of more than one year. Data are based on monthly transactions reports.
Excludes nonmarketable U.S. Treasury bonds and notes held by official institutions of foreign
countries.
2. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
26,295
3,898
-541'
1,501
-898
-3,432'
2,420
-81
-51
2,073
3,140
260
781
-702
-2,538
1,132
163
-1
641
-6
-359
-475
-179
371
-11
-168
414
101
3. Comprises Algeria, Gabon, Libya, and Nigeria.
4. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
56
Federal Reserve Bulletin Statistical Supplement • December 2006
3.28
FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE VALUE OF THE U.S. DOLLAR1
Currency units per U.S. dollar except as noted
2006
May
June
July
Aug.
Sept.
Oct.
0.7528
2.1883
1.1294
7.9897
5.8826
1.2681
7.7734
46.37
115.77
3.6679
10.983
0.6178
6.2617
1.5837
7.0688
950.81
103.957
7.2654
1.2376
32.617
37.969
1.8443
2,144.57
0.7631
2.1553
1.1182
7.9722
5.8236
1.2810
7.7762
46.45
115.92
3.6730
10.874
0.6348
6.2423
1.5754
6.9503
960.95
103.669
7.1890
1.2318
32.761
37.587
1.8941
2,144.60
0.7549
2.1679
1.1161
7.9334
5.8633
1.2722
7.7825
46.01
117.21
3.6699
10.989
0.6551
6.5008
1.5803
7.4465
952.29
102.595
7.2844
1.2455
32.904
37.427
1.8839
2,144.60
0.7544
2.1458
1.1285
7.9018
5.9085
1.2617
7.7849
45.36
118.61
3.6762
10.885
0.6621
6.6591
1.5775
7.6300
952.64
105.718
7.3338
1.2602
33.194
37.281
1.8765
2,144.60
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
0.6524
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
0.5822
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
1.6347
1,613.43
0.7365
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
0.6643
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
1.8330
1,886.13
0.7627
2.4352
1.2115
8.1936
5.9953
1.2449
7.7775
44.00
3.7869
10.894
0.7049
6.4412
1.6639
6.3606
1,023.75
100.383
7.4710
1.2459
32.131
40.252
1.8204
2,107.13
0.7639
2.1697
1.1100
8.0131
5.8398
1.2767
7.7538
45.20
111.73
3.6091
11.091
0.6311
6.1040
1.5755
6.3128
940.82
102.838
7.3050
1.2190
31.737
37.947
1.8687
2,144.55
0.7399
2.2493
1.1137
8.0042
5.8897
1.2661
7.7636
45.89
114.63
3.6638
11.393
0.6190
6.2070
1.5912
6.9738
954.45
103.525
7.2949
1.2321
32.440
38.349
1.8435
2,144.60
Indexes4
NOMINAL
24 Broad (January 1997=100)5
25 Major currencies (March 1973=100)''
26 Other important trading partners (January
1997=100)7
119.09
93.00
113.59
85.37
110.81
83.78
107.45
80.78
108.76
81.67
108.51
82.09
107.77
81.33
108.07
81.75
108.39
82.52
143.54
143.39
138.90
135.56
137.38
135.91
135.39
135.39
134.83
104.27
97.56
99.64
90.60
98.10
90.49
96.45
88.66
97.85
89.83
97.85
90.61
97.17'
89.75
96.83'
89.91
96.41
90.30
122.47
121.11
117.34
115.79
117.65
116.50
116.03'
114.92'
113.33
REAL
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
29 Other important trading partners (March
1973=100)7
1. Averages of certified noon buying rates in New York for cable transfers. Data in this
table also appear in the Board's G.5 (405) monthly statistical release, available at
www.federalreserve.gov/releases.
2. U.S. dollars per currency unit.
3. The euro is reported in place of the individual euro area currencies. By convention, the
rate is reported in U.S. dollars per euro.
4. Starting with the January 2004 Statistical Supplement to the Federal Reserve Bulletin,
revised index values resulting from the periodic revision of data that underlie the calculated
trade weights are reported. For more information on the indexes of the foreign exchange value
of the dollar, see Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
5. Weighted average of the foreign exchange value of the U.S. dollar against the currencies
of a broad group of U.S. trading partners. The weight for each currency is computed as an
average of U.S. bilateral import shares from and export shares to the issuing country and of a
measure of the importance to U.S. exporters of that country's trade in third country markets.
The source for exchange rates not listed in the table above but used in the calculation of this
index is Reuters Limited.
6. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that circulate widely outside the country of issue. The weight for each
currency is its broad index weight scaled so that the weights of the subset of currencies in the
index sum to one.
7. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that do not circulate widely outside the country of issue. The weight
for each currency is its broad index weight scaled so that the weights of the subset of
currencies in the index sum to one. The source for exchange rates not listed in the table above
but used in the calculation of this index is Reuters Limited.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title, Table Number, and Reporting Date for Data
Issue
Page
Reference
Assets and liabilities of commercial banks, 4.20
September 30, 2005
December 31,2005
March 31,2006
June 30, 2006
September 30, 2006
December
March
June
September
December
2005
2006
2006
2006
2006
58
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks, 4.23
November 2005
February 2006
May 2006
August 2006
February
May
August
November
2006
2006
2006
2006
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
September 30,2005
December 31,2005
March 31,2006
June 30, 2006
February
May
August
November
2006
2006
2006
2006
64
64
64
64
Supplement
Supplement
Supplement
Supplement
August 2001
October2001
January 2002
A76
A64
A64
Bulletin
Bulletin
Bulletin
September 2002
September 2003
September 2004
A58
A58
58
Bulletin
Bulletin
Supplement
September 2002
September 2003
September 2004
A67
A67
67
Bulletin
Bulletin
Supplement
September
September
September
September
2003
2004
2005
2006
A70
70
60
60
Bulletin
Supplement
Supplement
Supplement
September
September
September
September
2003
2004
2005
2006
A73
73
63
63
Bulletin
Supplement
Supplement
Supplement
Pro forma financial statements for Federal Reserve priced services, 4.31*
March 31,2001
June30,2001
September 30, 2001
Residential lending reported under the Home Mortgage Disclosure Act,
1989-2001
1990-2002
1991-2003
Disposition of applications for private mortgage insurance,
1998-2001
1999-2002
2000-2003
Small loans to businesses and farms,
1996-2002
1997-2003
1998-2004
1999-2005
4.34-4.411
4.42-4.45
4.46-4.48
Community development lending reported under the Community Reinvestment Act, 4.49
2002
2003
2004
2005
*The pro forma financial statements for Federal Reserve priced services are no longer published in the Bulletin after the January 2002 issue.
The statements are in the Board's yearly Annual Report to the Congress (www.federalreserve.gov/boarddocs/rptcongress).
58
Federal Reserve Bulletin Statistical Supplement • December 2006
4.20
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities
Consolidated Report of Condition, September 30, 2006
Millions of dollars except as noted
Banks with foreign offices'
Total assets
9,609,707
254,535
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
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
Total securities, held-to-maturity (amortized cost) and available-for-sale (fair value)
U.S. Treasury securities
U.S. government agency and corporation obligations (excludes mortgage-backed
securities)
Issued by U.S. government agencies
Issued by U.S. government-sponsored agencies
Securities issued by states and political subdivisions in the United States
Mortgage-backed securities (MBS)
Pass-through securities
Guaranteed by GNMA
Issued by FNMA and FHLMC
Other pass-through securities
Other mortgage-backed securities (includes CMOs, REMICs, and stripped MBS)
Issued or guaranteed by FNMA, FHLMC or GNMA
Collateralized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA
All other mortgage-backed securities
Asset-backed securities
Credit card receivables
Home equity lines
Automobile loans
Other consumer loans
Commercial and industrial loans
Other
Other debt securities
Other domestic debt securities
33
Foreign debt securities
34
Investments in mutual funds and other equity securities with readily determinate
fair value
6,855,161
5,608,530
304,457
134,226
n.a.
n.a.
37,789
123,064
9,379
170,432
130,005
104,753
25,252
24,689
6,417
9,321
Banks with
domestic
offices only2
84,103
n.a.
1,590,993
40,906
n.a.
n.a.
1,057,477
28,548
533,517
12,358
249,533
11,452
238,084
128,328
920,470
617,086
25,315
568,725
23,045
303,384
151,246
11,087
141,052
87,700
12,572
33,737
8,549
8,645
3,916
18,250
148,217
36,120
112,097
n.a.
n.a.
n.a.
74,549
7,652
66,897
52,679
689,151
505,604
14,570
469,855
21,180
183,547
85,390
7,739
90,418
80,460
11,249
33,095
8,089
8,253
3,355
16,420
120,653
19,934
100,720
174,984
3,801
171,187
75 649
231,319
111,482
10,746
98,871
1,866
119,837
65,856
3,348
50,634
7,240
1,323
642
461
392
561
1,830
27,564
16,186
11,378
15,840
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.
4,403
11,437
538,120
190,696
347,424
349,673
190,696
158,977
448,633
125,829
322,805
260,186
125,829
134,357
89,487
64,868
24,619
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
5,648,326
2,107
228,962
5,417,295
67,254
5,350,042
5,242,174
1,910
3,767,282
912
187,318
3,579,052
42,021
3,537,031
3,361,129
714
n.a.
n.a.
n.a.
n.a.
1,881,045
1,196
41,644
1,838,243
25,232
1,813,010
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
3,169,106
n.a.
n.a.
n.a.
n.a.
3,111,565
469,764
51,115
1,719,251
447,430
1,835,828
211,889
8,519
1,229,924
355,974
1,275,736
257,875
42,596
489,326
91,456
n.a.
n.a.
n.a.
n.a.
151,056
n.a.
n.a.
n.a.
53,543
1,109,159
n.a.
n.a.
1,130,223
141,604
98,053
773,391
127,821
149,222
59,020
57,857
32,344
12,908
809,213
645,401
163,812
779,181
94,769
47,144
338,352
125,987
58,589
57,857
9,540
12,429
647,124
634,114
13,010
351,042
46,835
50,910
435,039
1,835
812,512
310,946
44,630
456,937
716,751
271,805
32,964
411,982
595,076
211,428
40,564
343,084
499,315
172,287
28,898
298,130
217,436
99,518
4,066
113,852
35,360
182,434
3,065
179,368
n.a.
n.a.
135,178
35,354
128,517
527
127,990
25,216
161,135
3,045
158,089
10,144
21,299
20
21,279
121,143
25,210
107,218
507
106,711
18,128
88,584
108,018
569,158
51,125
2,474
11,198
n.a.
296,461
217,014
79,447
389,828
n.a.
n.a.
n.a.
n.a.
32,035
n.a.
n.a.
n.a.
n.a.
18,945
41,608
2,478
719
n.a.
42,865
32,869
9,996
86,167
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 nonresidential 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
Trading assets
Premises and fixed assets (including capitalized leases)
Other real estate owned
Investments in unconsolidated subsidiaries and associated companies
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
588,103
92,733
4,953
11,916
n.a.
339,327
249,883
89,443
475,995
53,064
947,070
40,635
299,946
14,035
Special Tables
4.20
59
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities—Continued
Consolidated Report of Condition, September 30, 2006
Millions of dollars except as noted
Domestic
total
Banks with foreign offices'
Banks with
domestic
offices only2
81 Total liabilities, minority interest, and equity capital
9,609,707
82 Total liabilities
8,611,016
7,366,481
6,152,366
4,907,831
2,458,651
83 Total deposits
84
Individuals, partnerships, and corporations (include all certified and official checks) . . . .
85
U.S. government
86
States and political subdivisions in the United States
87
Commercial banks and other depository institutions in the United States
88
Banks in foreign countries
89 Foreign governments and official institutions (including
foreign central banks)
6,367,138
5,712,979
5,264,101
4,895,803
6,455
267,282
65,367
24,050
4,314,176
3,818,073
n.a.
n.a.
90,950
183,257
3,211,139
3,000,936
5,609
134,718
41,001
23,822
2,052,962
1,894,867
846
132,563
24,366
228
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
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) . . . .
115,316
183,485
81,221
5,104
81,170
n.a.
n.a.
n.a.
2,754,547
5,053
51
353,906
289,730
1,278
34,326
21,363
6,482
727
311,150
270,140
355
33,993
6,558
94
10
n.a.
n.a.
n.a.
n.a.
n.a.
665,056
559,870
1,633
68,319
27,921
6,576
737
482,076
283,134
198,941
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4,599,045
4,335,972
4,822
198,962
37,446
17,475
4,367
2,857,233
2,711,206
4,331
100,392
19,638
17,341
4,326
1,741,812
1,624,766
491
98,570
17,808
134
42
667,653
167,948
499,705
276,498
558,137
167,948
390,189
n.a.
109,275
46,034
63,241
998
420,608
n.a.
334,325
n.a.
n.a.
248,970
7,918
n.a.
38,528
1,442
Total demand deposits
Total nontransaction 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)
6,855,161
105 Federal funds purchased and securities sold under agreements to repurchase
106
Federal funds purchased in domestic offices
107
Securities sold under agreements to repurchase
108 Trading liabilities
109 Other borrowed money (includes mortgage indebtedness and obligations under capitalized
leases)
110 Subordinated notes and debentures to deposits
111 Net due to own foreign offices, Edge Act and agreement subsidiaries, and IBFs
112 All other liabilities
113 Minority interest in consolidated subsidiaries
776,928
213,982
562,946
277,496
769,078
135,590
n.a.
284,788
14,945
520,107
127,672
n.a.
246,259
13,503
114 Total equity capital
983,746
689,292
667,412
213,982
453,430
n.a.
294,454
MEMO
115 Trading assets at large banks2
116
U.S. Treasury securities (domestic offices)
117
U.S. government agency obligations (excluding MBS)
118
Securities issued by states and political subdivisions in the United States
119
Mortgage-backed securities
120
Other debt securities
121
Other trading assets
122
Trading assets in foreign offices
123
Revaluation gains on interest rate, foreign exchange rate, and other
commodity and equity contracts
124 Total individual retirement (IRA) and Keogh plan accounts
125 Total brokered deposits
126
Fully insured brokered deposits
127
Issued in denominations of less than $100,000
128
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
129 Money market deposit accounts (MMDAs)
130 Other savings deposits (excluding MMDAs)
131 Total time deposits of less than $100,000
132 Total time deposits of $100,000 or more
133 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.
587,548
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
252,118
276,595
24,777
6,591
5,980
17,643
58,326
67,990
0
569,154
258,200
24,525
5,891
5,855
14,865
44,745
67,843
0
18,394
252
701
125
2,778
13,582
146
0
154,124
n.a.
n.a.
n.a.
n.a.
95,288
181,307
398,018
228,133
98,251
153,313
94,477
85,708
209,057
93,669
54,815
811
95,599
188,961
134,464
43,436
38,854
91,041
618,340
252,416
454,736
416,320
n.a.
n.a.
n.a.
n.a.
n.a.
129,896
2,083,780
677,707
845,064
992,493
7,425
1,465,440
425,291
390,328
576,174
7,311
Foreign offices include branches in foreign countries, Puerto Rico, and U.S.-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, 9
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22
Production, 42, 43
REAL estate loans
Banks, 15-21, 33
Terms, yields, and activity, 32
Type and holder and property mortgaged, 33
Reserve requirements, 8
Reserves
Commercial banks, 15-21
Depository institutions, 4—6
Federal Reserve Banks, 10
U.S. reserve assets, 45
Residential mortgage loans, 32, 33
Retail credit, 34
SAVING
Flow of funds, 33, 34, 35-39
Savings deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-39
Securities (See also specific types)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21, 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