The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Volume 2 • Number 6 • June 2005
Statistical Supplement
to the Federal Reserve
BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Lynn S. Fox, Chair • Scott G. Alvarez • Sandra Braunstein • Marianne M. Emerson
• Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus • Vincent R. Reinhart
• Louise L. Roseman • Richard Spillenkothen • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin. Starting with
the winter 2004 issue, the Bulletin is now published
on a quarterly basis.
Published monthly, the new Statistical Supplement
is designed as a compact source of economic and
financial data. All tables that appeared in the Federal
Reserve Bulletin, including the annual and quarterly
special tables, now appear in the Statistical Supplement. 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.
Separate subscriptions for the quarterly Federal
Reserve Bulletin and the monthly Statistical Supplement are available. 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@frbog.frb.gov.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of June 2005.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Reserves of depository institutions and Reserve Bank
credit
6 Reserves and borrowings—Depository
institutions
Policy
Instruments
7 Federal Reserve Bank interest rates
8 Reserve requirements of depository institutions
9 Federal Reserve open market transactions
Federal Finance
25 Federal debt subject to statutory limitation
25 Gross public debt of U.S. TreasuryTypes and ownership
26 U.S. government securities
dealers—Tran saction s
27 U.S. government securities dealers—
Positions and financing
28 Federal and federally sponsored credit
agencies—Debt outstanding
Securities Markets and Corporate Finance
29 New security issues—Tax-exempt state and local
governments and U.S. corporations
30 Open-end investment companies—Net sales
and assets
30 Domestic finance companies—Assets and liabilities
31 Domestic finance companies—Owned and managed
receivables
Federal Reserve Banks
10 Condition and Federal Reserve note statements
11 Maturity distribution of loans and securities
Monetary and Credit Aggregates
Real Estate
32 Mortgage markets—New homes
33 Mortgage debt outstanding
12 Aggregate reserves of depository institutions
and monetary base
13 Money stock measures
Commercial Banking Institutions—
Assets and Liabilities
15
16
17
19
20
21
All commercial banks in the United States
Domestically chartered commercial banks
Large domestically chartered commercial banks
Small domestically chartered commercial banks
Foreign-related institutions
Memo items
Consumer Credit
34 Total outstanding
34 Terms
Flow of Funds
35
37
38
39
Funds raised in U.S. credit markets
Summary of financial transactions
Summary of credit market debt outstanding
Summary of financial assets and liabilities
Financial Markets
22 Commercial paper outstanding
22 Prime rate charged by banks on short-term
business loans
23 Interest rates—Money and capital markets
24 Stock market—Selected statistics
DOMESTIC NONFINANCIAL STATISTICS
Selected
Measures
40 Output, capacity, and capacity utilization
42 Industrial production—Indexes and gross value
2
Federal Reserve Bulletin Statistical Supplement • June 2005
INTERNATIONAL STATISTICS
Summary Statistics
44 U.S. international transactions
44 U.S. reserve assets
45 Foreign official assets held at Federal Reserve
Banks
45 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
45
46
48
49
Liabilities to, and claims on, foreigners
Liabilities to foreigners
Banks' own claims on foreigners
Banks' own and domestic customers' claims on
foreigners
Reported by Nonbanking Business
Enterprises in the United States
50 Liabilities to foreigners
52 Claims on foreigners
Securities Holdings and Transactions
54 Foreign transactions in securities
55 Marketable U.S. Treasury bonds and
notes—Foreign transactions
Interest and Exchange Rates
56 Foreign exchange rates
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Assets and liabilities of commercial banks,
March 31, 2005
60 INDEX TO STATISTICAL TABLES
Symbols and Abbreviations
c
e
n.a.
n.e.c.
p
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
Corrected
Estimated
Not available
Not elsewhere classified
Preliminary
Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
Calculated to be zero
Cell not applicable
Asset-backed security
Automatic transfer service
Bank insurance fund
Certificate of deposit
Collateralized mortgage obligation
Community Reinvestment Act of 1977
Federal Agricultural Mortgage Corporation
Federal Financing Bank
Federal Financial Institutions Examination Council
Federal Housing Administration
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Farmers Home Administration
Federal National Mortgage Association
Farm Service Agency
Federal Savings and Loan Insurance Corporation
Group of Seven
Group of Ten
GDP
GNMA
GSE
HUD
IMF
IOs
IPCs
IRA
MMDA
MSA
NAICS
NOW
OCDs
OPEC
OTS
PMI
POs
REIT
REMICs
RHS
RP
RTC
SCO
SDR
SIC
STRIP
TIIS
TIPS
VA
Gross domestic product
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International Monetary Fund
Interest-only, stripped, mortgage-backed securities
Individuals, partnerships, and corporations
Individual retirement account
Money market deposit account
Metropolitan statistical area
North American Industry Classification System
Negotiable order of withdrawal
Other checkable deposits
Organization of Petroleum Exporting Countries
Office of Thrift Supervision
Private mortgage insurance
Principal-only, stripped, mortgage-backed securities
Real estate investment trust
Real estate mortgage investment conduits
Rural Housing Service
Repurchase agreement
Resolution Trust Corporation
Securitized credit obligation
Special drawing right
Standard Industrial Classification
Separate trading of registered interest and principal
of securities
See TIPS
Treasury inflation-protected securities (formerly
TIIS, or Treasury inflation-indexed securities)
Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
4
Federal Reserve Bulletin Statistical Supplement • June 2005
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q2'
Q3'
Q4'
Q1
2
1
2
3
4
Reserves of depository institutions
Total
Required
Nonborrowed
Monetary base3
Concepts of money*
5 Ml
6 M2
7 M3
Nontransaction components
8 In M2S
9 In M3 only1"
Time and savings deposits
Commercial banks
Savings, including MMDAs . . .
Small time7
Large times>9
Thrift institutions
13
Savings, including MMDAs . . .
14
Small time7
15 Large times
10
11
12
21.8
17.9
21.3
5.6
2.3
4.0
1.0
7.3
3.2
1.5
4.3
4.7
2.8
2.5
3.6
-.9
-2.3
-1.0
6.9
9.5
6.1
12.7
.1
17.3
22.6
17.4
6.0
7.8
9.4
3.6
3.5
4.3
5.5
5.7
3.8
.7
3.6
5.1
13.2
6.9
3.8
-1.0
4.5
6.0
-8.3
2.6
6.0
6.9
2.6
4.2
6.4
3.6
3.6
8.3
12.7
3.5
5.8
4.4
8.4
5.2
-2.8
6.0
9.2
5.5
1.4
7.8
2.8
3.7
9.5
6.6
19.1
5.5
12.3
69.8
3.2
15.5
17.3
4.1
23.0
6.4
7.2
20.0
52.7
-8.6
21.0
46.8
-8.2
12.9
40.2
-11.0
-19.7
-8.2
-4.4
42.9
-1.5
-16.1
27.3
16.2
-3.2
22.4
15.0
11.6
6.9
6.0
6.4
12.6
32.8
11.2
7.6
1.6
13.5
-4.5
27.1
8.0
-1.2
35.9
1.7
3.2
34.9
-1.2
14.7
45.8
-.9
1.3
7.1
3.1
-9.3
4.2
-11.4
-6.4
-9.4
-12.0
-6.1
-10.2
-9.0
-9.7
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
8.8
19.5
-1.0
23.0
-18.0
34.4
-19.6
26.4
-16.5
12.4
1. Unless otherwise noted, rates of change are calculated from average amounts outstanding during the preceding month or quarter.
2. Figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements (See also table 1.20.)
3. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all weekly reporters whose
vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted difference
between current vault cash and the amount applied to satisfy current reserve requirements.
4. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depository institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement accounts (IRA) and Keogh balances at depository institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted Ml.
3.4
37.2
Money market mutual funds
16 Retail10
17 Institution-only
13.4
-14.7
32.9
-65.8
43.7
-37.6
-33.5
-37.2
5.0
22.5
15.7
22.3
3.5
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depository institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the result to seasonally adjusted M2.
5. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances, each seasonally adjusted separately.
6. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted separately.
7. Small time deposits are those issued in amounts of less than $100,000. All IRA and
Keogh account balances at commercial banks and thrift institutions are subtracted from small
time deposits.
8. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
9. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
10. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Money Stock and Bank Credit
1.11
5
RESERVE BALANCES OF DEPOSITORY INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
Feb. 23
Mar. 2
Mar. 9
Mar. 16
Mar. 23
777,531
717,502
717,502
263,005
433,096
19,108
2,292
0
20,893
33
5
0
29
-762
39,866
11,042
2,200
36,546
785,355
717,512
717,512
263,005
433,096
19,108
2,302
0
28,107
44
8
0
35
-736
40,429
11,042
2,200
36,545
783,478
717,522
717,522
263,005
433,096
19,108
2,312
0
25,964
43
5
0
38
-733
40,681
11,042
2,200
36,545
782,313
717,532
717,532
263,005
433,096
19,108
2,322
0
24,643
59
13
0
46
-529
40,608
11,041
2,200
36,545
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 agreements6
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 . .
783,604
717,826
717,826
262,970
436,332
16,205
2,318
0
25,363
63
40
0
22
766
39,587
11,044
2,200
36,434
781,443
717,850
717,850
263,005
433,417
19,108
2,319
0
22,670
33
18
0
15
223
40,667
11,042
2,200
36,496
782,452
717,509
717,509
263,005
433,089
19,108
2,306
0
25,073
53
17
0
36
-528
40,346
11,041
2,200
36,545
783,703
717,866
717,866
263,005
433,429
19,108
2,324
0
23,929
23
9
0
14
413
41,473
11,042
2,200
36,490
780,768
717,845
717,845
263,005
433,429
19,108
2,303
0
23,964
5
0
16
-319
39,256
11,042
2,200
36,518
784,889
717,686
717,686
263,005
433,286
19,108
2,286
0
26,571
81
64
0
17
937
39,614
11,042
2,200
36,546
749,194
28,283
28,283
0
273
751,352
25,613
25,613
0
277
752,242
25,374
25,374
0
261
751,141
27,044
27,044
0
280
753,243
23,857
23,857
0
269
751,862
24,390
24,390
0
263
751,570
25,631
25,631
0
257
751,952
25,365
25,365
0
252
751,997
26,048
26,048
0
257
753,036
24,679
24,679
0
275
15,010
5,076
102
9,402
9,401
1
431
26,122
14,400
14,788
5,168
86
9,240
9,240
0
294
27,113
12,038
14,251
4,718
87
9,125
9,124
0
321
27,854
12,257
15,073
4,924
82
9,771
9,771
0
296
26,950
12,947
14,297
5,250
81
8,669
8,669
0
296
27,435
11,427
14,235
5,199
83
8,670
8,670
0
283
27,580
16,346
14,220
4,304
83
9,554
9,554
0
279
27,733
7,907
15,295
5,118
88
9,554
9,554
0
535
28,128
14,149
14,040
4,968
88
8,732
8,732
0
252
27,975
12,949
13,642
4,592
83
8,732
8,732
0
235
27,686
12,782
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
End-of-month figures
Wednesday figures
Mar. 2
Mar. 9
Mar. 16
787,984
717,515
717,515
263,005
433,096
19,108
2,306
0
30,250
58
20
0
38
-397
40,557
11,042
2,200
36,545
778,437
717,526
717,526
263,005
433,096
19,108
2,316
0
19,250
43
0
0
43
1,075
40,544
11,042
2,200
36,545
789,035
717,536
717,536
263,005
433,096
19,108
2,326
0
31,750
62
10
0
52
-1,011
40,698
11,041
2,200
36,545
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 .
787,494
717,326
717,326
263,005
432,885
19,108
2,328
0
31,000
52
0
0
52
-1,413
40,529
11,041
2,200
36,545
776,092
717,859
717,859
263,005
433,429
19,108
2,316
0
18,500
27
7
0
19
844
38,863
11,042
2,200
36,490
783,521
717,839
717,839
263,005
433,429
19,108
2,297
0
25,250
24
6
0
19
912
39,495
11,042
2,200
36,518
780,948
717,495
717,495
263,005
433,096
19,108
2,286
0
24,250
325
306
1,274
39,919
11,042
2,200
36,434
790,947
717,492
717,492
263,005
433,096
19,108
2,283
0
33,750
114
98
0
15
3
39,588
11,042
2,200
36,546
-655
39,533
11,042
2,200
36,546
779,713
717,505
717,505
263,005
433,096
19,108
2,296
0
22,000
32
1
0
31
-10
40,185
11,042
2,200
36,546
746,746
26,726
26,726
0
269
751,631
25,026
25,026
0
263
754,637
24,106
24,106
0
284
752,761
23,346
23,346
0
270
753,820
23,474
23,474
0
263
752,652
25,375
25,375
0
257
752,930
25,430
25,430
0
252
753,333
24,939
24,939
0
254
753,118
24,491
24,491
0
274
755,240
23,691
23,691
0
284
14,351
4,971
121
8,946
8,946
0
313
26,932
22,535
13,711
4,673
86
8,670
8,670
0
282
27,776
22,327
15,107
5,219
139
9,514
9,514
0
235
27,862
15,284
15,163
5,010
85
9,771
9,771
0
297
26,967
7,317
13,512
4,487
81
8,669
8,669
0
275
27,300
14,911
13,959
4,906
83
8,670
8,670
0
301
27,245
11,246
14,520
4,599
82
9,554
9,554
0
286
27,836
8,532
14,636
4,746
82
9,554
9,554
0
254
27,837
16,771
13,731
4,677
83
8,732
8,732
0
239
27,480
9,130
14,267
5,198
102
8,732
8,732
0
235
27,674
17,665
787,883
717,869
717,869
262,970
433,429
19,108
2,361
0
28,750
71
51
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 • June 2005
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averages of biweekly averages
Reserve classification
1
2
3
4
5
6
7
8
9
10
11
12
Reserve balances with Reserve Banks2
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Primary
Seasonal
Adjustment
2005
2004
2002
2003
2004
Dec.
Dec.
Dec.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
9,926
43,363
30,347
13,016
40,272
38,263
2,009
10,861
44,060
32,083
11,976
42,944
41,906
1,038
12,017
47,259
34,795
12,463
46,812
44,901
1,911
13,044
44,840
33,489
11,352
46,532
44,953
1,579
12,010
46,659
33,736
12,923
45,747
44,028
1,719
12,116
45,570
33,536
12,035
45,652
43,881
1,771
12,017
47,259
34,795
12,463
46,812
44,901
1,911
14,032
47,668
36,365
11,303
50,397
48,656
1,742
12,255
47,640
34,447
13,193
46,703
45,174
1,529
12,043
46,726
33,989
12,736
46,033
44,226
1,807
80
46
17
0
29
63
11
0
52
335
97
0
238
179
15
0
164
183
105
0
78
63
11
0
52
62
39
0
42
26
0
16
49
13
0
37
45
35
B
weekly a\ erages of daily igures for two- A-eek periods ending on dates indie ited
2005
2004
1
2
3
4
5
6
7
8
u
10
12
Reserve balances with Reserve Banks2
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Secondary
Dec. 8
Dec. 22
Jan. 5
Jan. 19
Feb.2
Feb. 16
Mar. 2
Mar. 16
Mar. 30
Apr. 13
12,188
44,914
33,361
11,554
45,548
43,766
1,782
11,693
47,571
34,327
13,244
46,020
44,159
1,860
12,371
48,858
36,799
12,059
49,170
47,066
2,104
12,278
46,771
34,453
12,319
46,730
44,944
1,786
16,771
48,220
38,417
9,804
55,188
53,649
1,539
10,212
48,295
33,280
15,015
43,491
42,016
1,475
13,888
46,780
35,148
11,632
49,036
47,446
1,590
11,080
45,868
32,137
13,731
43,217
41,383
1,834
12,814
47,672
35,807
11,866
48,620
46,809
1,811
11,065
45,381
32,168
13,213
43,233
41,432
1,801
64
5
0
59
68
12
0
56
54
14
0
40
59
40
0
20
69
49
0
21
30
16
0
15
51
35
0
17
39
7
0
32
51
9
0
42
175
0
63
Adjustment
1. Data in this table also appear in the Board's H.3 (502) weekly statistical release,
available at www.federalreserve.gov/releases. Data are not break-adjusted or seasonally
adj usted.
2. Excludes required clearing balances and adjustments to compensate for float and
includes other off-balance-sheet "as-of' adjustments.
3. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by
those banks and thrift institutions that are not exempt from reserve requirements. Dates
refer to the maintenance periods in which the vault cash can be used to satisfy reserve
requirements.
4. All vault cash held during the lagged computation period by "bound" institutions (that
is, those whose required reserves exceed their vault cash) plus the amount of vault cash
applied during the maintenance period by "nonbound" institutions (that is, those whose vault
cash exceeds their required reserves) to satisfy current reserve requirements.
5. Total vault cash (line 2) less applied vault cash (line 3).
6. Reserve balances with Federal Reserve Banks (line 1) plus applied vault cash (line 3).
7. Total reserves (line 5) less required reserves (line 6).
Policy Instruments
1.14
1
FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
1
Secondary credit2
Primary credit
Federal Reserve
Bank
Boston
Vew York
Philadelphia
Cleveland
Richmond
Atlanta
On
6/17/05
Effective date
Previous rate
On
6/17/05
Effective date
Previous rate
On
6/17/05
Effective date
Previous rate
4.00
5/3/05
5/3/05
5/3/05
5/3/05
5/3/05
5/3/05
3.75
4.50
5/3/05
5/3/05
5/3/05
5/3/05
5/3/05
5/3/05
4.25
3.15
6/9/05
3.10
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
i
5/3/05
5/4/05
5/3/05
5/3/05
5/3/05
5/3/05
i
4.00
'
3.75
4.50
1
5/3/05
5/4/05
5/3/05
5/3/05
5/3/05
5/3/05
i
1
1
4.25
3.15
6/9/05
3.10
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
Effective date
2005—Feb. 3
Mar. 22
24
May 3
4
IneffectJunel7,2005
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
3.50
3.50-3.75
3.75
3.75^.00
4.00
3.50
3.75
3.75
4.00
4.00
4.00
4.00
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2001—June 27
29
Aug. 21
23
Sept. 17
18
Oct. 2
4
Nov. 6
8
Dec. 11
13
3.25-3.50
3.25
3.00-3.25
3.00
2.50-3.00
2.50
2.00-2.50
2.00
1.50-2.00
1.50
1.25-1.50
1.25
3.25
3.25
3.00
3.00
2.50
2.50
2.00
2.00
1.50
1.50
1.25
1.25
2002—Nov. 6
7
0.75-1.25
0.75
0.75
0.75
0.75
0.75
Range of rates for adjustment credit in recent years4
Effective date
In effect Dec. 31, 1995
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.25
5.25
1996—Jan. 31
Feb. 3
5.00-5.25
5.00
5.00
5.00
1998— Oct. 15
16
Nov. 17
19
4.75-5.00
4.75
4.50-4.75
4.50
4.75
4.75
4.50
4.50
1999—Aug. 24
26
Nov. 16
18
4.50-4.75
4.75
4.75-5.00
5.00
4.75
4.75
4.75
5.00
Effective date
2000—Feb.
2
4
Mar. 21
23
May 16
19
2001—Jan.
Feb.
Mar.
Apr.
May
3
4
5
31
1
20
21
18
20
15
17
1. Available for very short terms as a backup source of liquidity to depository institutions
that are in generally sound financial condition in the judgment of the lending Federal Reserve
Bank.
2. Available in appropriate circumstances to depository institutions that do not qualify for
primary credit.
3. Available to help relatively small depository institutions meet regular seasonal needs for
funds that arise from a clear pattern of intrayearly movements in their deposits and loans. The
discount rate on seasonal credit takes into account rates charged on market sources of funds
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.00-5.25
5.25
5.25-5.50
5.50
5.50-6.00
6.00
5.25
5.25
5.50
5.50
5.50
6.00
5.75-6.00
5.50-5.75
5.50
5.00-5.50
5.00
4.50-5.00
4.50
4.00^.50
4.00
3.50^.00
3.50
5.75
5.50
5.50
5.00
5.00
4.50
4.50
4.00
4.00
3.50
3.50
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 • June 2005
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Net transaction accounts^
1 $0 million-$7.0 million2
2 More than $7.0 million-$47.6 million3
3 More than $47.6 million
Percentage of
liabilities
0
10
4 Nonpersonal time deposits
0
5 Eurocurrency liabilities
0
NOTE. Required reserves must be held in the form of vault cash and, if vault cash is
insufficient, also in the form of a deposit with a Federal Reserve Bank. An institution that is a
member of the Federal Reserve System must hold that deposit directly with a Reserve Bank;
an institution that is not a member of the System can maintain that deposit directly with a
Reserve Bank or with another institution in a pass-through relationship. Reserve requirements
are imposed on commercial banks, savings banks, savings and loan associations, credit
unions, U.S. branches and agencies of foreign banks, Edge Act corporations, and agreement
corporations.
1. Total transaction accounts consist of demand deposits, automatic transfer service (ATS)
accounts, NOW accounts, share draft accounts, telephone or preauthorized transfer accounts,
ineligible acceptances, and obligations issued by affiliates maturing in seven days or less. Net
transaction accounts are total transaction accounts less amounts due from other depository
institutions and less cash items in the process of collection.
Effective date
12/23/04
12/23/04
12/23/04
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
Aug.
Sept.
U.S. TREASURY SECURITIES2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Outright transactions
Treasury bills
Gross purchases
Gross sales
Exchanges
For new bills
Redemptions
Others within one year
Gross purchases
Gross sales
Maturity shifts
Exchanges
Redemptions
One to five years
Gross purchases
Gross sales
Maturity shifts
Exchanges
Five to ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
More than ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
All maturities
Gross purchases
Gross sales
Redemptions
26 Net change in U.S. Treasury securities . . .
21,421
0
657.931
657,931
0
738,886
738,886
18,138
0
821,685
821,685
0
66,355
66,355
3,473
0
80,572
80,572
0
3,155
0
60,682
60,682
0
512
0
73,029
73,029
0
0
0
62,448
62,448
0
35
0
66,741
66,741
0
12,720
0
89,108
-92,075
0
6,565
0
96,433
-103,153
7,994
0
103,380
-118,373
0
0
17,703
-21,489
0
0
6,535
-7,652
0
1,593
0
0
0
19,781
-23,125
0
1,499
0
7,987
-7,948
0
0
0
6,928
-8,000
0
0
0
2,989
-12,710
333
12,748
0
-73,093
88,276
7,814
0
-76,364
97,256
17,249
0
-84,844
110,819
428
0
-10,029
19,771
899
0
-6,535
7,652
2,765
0
0
0
2,284
0
-16,031
20,655
2,404
0
-7,987
7,948
0
0
-6,928
5,000
0
0
3,180
11,498
5,074
0
-11,588
3,800
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
568
0
-5,051
1,718
695
0
0
0
1,225
0
0
0
453
0
-84
2,471
340
0
0
0
0
0
0
0
0
0
-3,112
1,212
2,280
0
-4,427
0
220
0
-8,938
1,364
0
-10,524
0
0
0
-2,624
405
0
0
0
400
0
0
0
-3,666
85
0
0
0
0
0
0
3,000
0
0
-3,058
0
54,242
0
0
36,856
0
50,507
0
0
1,078
0
5,473
0
0
6,484
0
5,977
0
4,840
0
0
0
0
0
35
0
54,242
36,856
6,484
5,977
1,153,876
1,518,638
1,887,650
179,500
172,000
180,000
183,000
153,500
157,500
166,750
158,250
155,250
156,000
148,500
152,750
125,250
120,250
4,942,131
4,946,691
5,621,153
5,626,285
465,642
468,417
510,205
512,957
510,553
511,896
547,160
548,325
655,872
658,454
563,559
559,501
490,482
488,781
1,078
59,837
59,837
FEDERAL AGENCY OBLIGATIONS
Outright transactions
Gross purchases
Gross sales
Redemptions
Net change in federal agency obligations . . .
TEMPORARY TRANSACTIONS
Repurchase agreements3
Gross purchases
Gross sales
Matched sale-purchase agreements
33 Gross purchases
34 Gross sales
Reverse repurchase agreements*
35 Gross purchases
36 Gross sales
4,981,624
4,958,437
231,272
252,363
37 Net change in temporary transactions
-8,653
-310
-15,882
4,725
-5,752
-5,343
7,335
-3,332
-193
6,700
38 Total net change in System Open Market Account
45,589
36,536
34,626
5,804
-280
1,140
13,312
1,508
-193
6,402
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 • June 2005
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
Consolidated condition statement
ASSETS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Gold certificate account
Special drawing rights certificate account . . . .
Coin
Securities, repurchase agreements, and loans .
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3 . .
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans
Items in process of collection
Bank premises
Other assets
Denominated in foreign currencies'"
All other7
19 Total assets .. .
11,037
2,200
793
742,071
717,495
717,495
263,005
433,096
19,108
2,286
0
24,250
325
7,379
1,791
37,715
20,870
16,846
11,037
2,200
773
739,538
717,505
717,505
263,005
433,096
19,108
2,296
0
22,000
32
7,299
1,793
38,365
21,180
17,185
11,037
2,200
746
747,824
717,515
717,515
263,005
433,096
19,108
2,306
0
30,250
58
6,654
1,797
38,729
21,201
17,528
11,037
2,200
730
736,819
717,526
717,526
263,005
433,096
19,108
2,316
0
19,250
43
7,721
1,801
38,582
20,687
17,895
11,037
2,200
713
749,348
717,536
717,536
263,005
433,096
19,108
2,326
0
31,750
62
5,529
1,806
38,731
20,507
18,225
11,038
2,200
812
746,690
717,869
717,869
262,970
433,429
19,108
2,361
0
28,750
71
3,220
1,784
40,310
20,876
19,434
11,037
2,200
819
751,356
717,492
717,492
263,005
433,096
19,108
2,283
0
33,750
114
2,252
1,794
37,753
21,040
16,713
11,037
2,200
720
748,378
717,326
717,326
263,005
432,885
19,108
2,328
0
31,000
52
4,593
1,802
38,524
20,539
17,985
802,986
801,005
808,987
798,889
809,365
806,054
807,212
807,255
717,152
25,375
25,177
19,888
4,906
83
301
8,036
3,033
717,406
25,430
23,139
18,173
4,599
82
286
7,195
3,109
717,783
24,939
31,373
26,291
4,746
82
254
7,055
717,572
24,491
22,691
17,693
4,677
83
239
6,655
3,180
719,688
23,691
31,783
26,249
5,198
102
235
6,529
3,225
711,389
26,726
39,064
33,659
4,971
121
313
1,942
2,881
716,163
25,026
35,997
30,956
4,673
86
282
2,249
3,065
719,092
24,106
30,577
24,984
5,219
139
235
5,618
3,299
778,774
776,279
784,239
774,589
784,916
782,002
782,500
782,692
12,522
11,125
565
12,535
11,216
975
12,536
11,247
966
12,558
11,200
542
12,559
11,177
714
12,432
10,991
629
12,517
11,110
1,085
12,560
11,177
826
24,749
24,300
1,388,688
1,087,883
300,806
1,578
1,391,290
1,085,236
306,054
4,354
LIABILITIES
20
21
22
23
24
25
26
27
28
Federal Reserve notes, net of F.R. Bank holdings
Reverse repurchase agreements5
Deposits
Depository institutions
U.S. Treasury, general account
Foreign official
Other
Deferred availability cash items
Other liabilities and accrued dividends9
29 Total liabilities
CAPITAL ACCOUNTS
30 Capital paid in
31 Surplus
32 Other capital accounts
24,213
24,712
33 Total capital
MEMO
34 Marketable securities held in custody for foreign offic
and international accounts3'10
35
U.S. Treasuiy
36
Federal agency
37 Securities lent to dealers
1,381,253
1,079,920
301,333
2,669
1,380,611
1,081,558
299,053
736
1,391,196
1,081,549
309,647
7,588
1,347,405
1,060,435
286,970
6,901
1,381,948
1,079,496
302,453
1,678
1,390,628
1,081,403
309,226
6,298
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
855,319
855,115
854,972
854,914
854,507
852,897
855,617
854,334
138,166
717,152
717,152
11,037
2,200
703,915
0
137,709
717,406
717,406
11,037
2,200
704,169
0
137,189
717,783
717,783
11,037
2,200
704,546
0
137,342
717,572
717,572
11,037
2,200
704,334
0
134,820
719,688
719,688
11,037
2,200
706,451
0
141,509
711,389
711,389
11,038
2,200
698,151
0
139,454
716,163
716,163
11,037
2,200
702,926
0
135,242
719,092
719,092
11,037
2,200
705,855
0
741,745
739,505
747,765
736,776
749,286
746,619
751,242
748,326
25,393
25,448
24,958
24,510
23,708
26,743
25,046
24,123
716,352
714,057
722,807
712,266
725,577
719,876
726,196
724,204
MEMO
46 Total U.S. Treasury and agency securities''
47
Less: face value of securities under reverse repurchase
agreements12
48
U.S. Treasury and agency securities
eligible to be pledged
1. Some of the data in this table also appear in the Board's H.4.1 (503) weekly statistical
release, which is available at www.federalreserve.gov/releases.
2. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury
securities.
3. Face value of the securities.
4. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
5. Cash value of agreements, which are fully collateralized by U.S. Treasury and federal
agency securities.
6. Valued daily at market exchange rates.
7. Includes special investment account at the Federal Reserve Bank of Chicago in Treasury
bills maturing within ninety days.
8. Cash value of agreements, which are fully collateralized by U.S. Treasury securities.
9. Includes exchange-translation account reflecting the daily revaluation at market
exchange rates of foreign exchange commitments.
10. Includes U.S. Treasury STRIPS and other zero coupon bonds at face value.
11. Includes face value of U.S. Treasury and agency securities held outright, compensation
to adjust for the effect of inflation on the original face value of inflation-indexed securities,
and cash value of repurchase agreements.
12. Face value of agreements, which are fully collateralized by U.S. Treasury securities.
Federal Reserve Banks
1.19
FEDERAL RESERVE BANKS
11
Maturity Distribution of Loans and Securities
Millions of dollars
Wednesday
Type of holding and maturity
71
1 Total loans
306
20
0
1
31
0
22
37
39
4
58
4
0
70
114
0
47
5
0
717,495
717,505
717,515
717,526
717,536
717,869
717,492
717,326
47,997
170,674
158,827
212,790
50,277
76,929
47,070
171,518
158,911
212,794
50,279
76,934
54,797
163,608
159,093
212,798
50,281
76,938
54,765
163,118
159,615
212,802
50,283
76,943
54,851
162,697
159,950
212,806
50,284
76,947
38,235
173,628
167,654
207,757
51,787
32,235
179,319
165,944
212,789
50,277
76,928
31,032
165,566
181,023
212,473
50,285
76,948
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19 Total repurchase agreements2
24,250
22,000
30,250
19,250
31,750
28,750
33,750
31,000
20 Within 15 days
24,250
0
22,000
0
30,250
0
19,250
0
31,750
0
28,750
0
33,750
0
31,000
0
24,939
24,491
24,939
0
24,491
0
23,691
0
26,726
0
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
12 Total federal agency securities
13
14
15
16
17
18
Within 15 days
16 days to 90 days
91 days to 1 year
Over 1 year to 5 years
Over 5 years to 10 years
Over 10 years
21 16 days to 90 days
22 Total reverse repurchase agreements"
25,375
25,375
25,430
0
23 Within 15 days
24 16 days to 90 days
NOTE. Components may not sum to totals because of rounding.
1. Includes the original face value of inflation-indexed securities and compensation that
adjusts for the effect of inflation on the original face value of such securities.
25,026
25,026
0
24,106
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • June 2005
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2001
Dec.
2002
Dec.
2003
Dec.
2004
Dec'
Aug.'
Sept.'
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
41.50'
41.43'
39.85'
635.44'
40.44
40.36
38.43
681.33'
42.77'
42.72'
41.73'
719.88'
46.76
46.70
44.85
758.60
45.51
45.26
43.97
747.49
46.52
46.19
44.94
751.54
46.43
46.25
44.71
754.17
46.39
46.21
44.62
758.50
46.76
46.70
44.85
758.60
47.44
47.37
45.69
761.14
45.95
45.91
44.42
764.28
46.81
46.76
45.00
766.49
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
41.18
41.11
39.53
639.91
40.13
40.05
38.12
686.23
42.45
42.40
41.41
725.20
46.49
46.42
44.57
764.63
45.59
45.34
44.05
746.68
46.22
45.89
44.64
750.58
45.40
45.22
43.68
752.84
45.26
45.07
43.49
758.36
46.49
46.42
44.57
764.63
50.33
50.27
48.59
763.74
46.68
46.64
45.15
763.21
45.99
45.94
44.19
764.68
41.06
40.99
39.41
648.74
1.65
.07
40.27
40.19
38.26
697.15
2.01
.08
42.94
42.90
41.91
737.62
1.04
.05
46.81
46.75
44.90
774.75
1.91
.06
45.87
45.62
44.33
757.18
1.54
.25
46.53
46.20
44.95
760.99
1.58
.34
45.75
45.57
44.03
763.66
1.72
.18
45.65
45.47
43.88
768.80
1.77
.18
46.81
46.75
44.90
774.75
1.91
.06
50.40
50.34
48.66
773.20
1.74
.06
46.70
46.66
45.17
772.47
1.53
.04
46.03
45.98
44.23
773.83
1.81
.05
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 Money and Reserves Projections Section, Division of Monetary Affairs,
Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory
changes in reserve requirements. (See also table 1.10.)
3. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, breakadjusted required reserves (line 3) plus excess reserves (line 13).
4. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted,
break-adjusted total reserves (line 1) less total borrowings of depository institutions from the
Federal Reserve (line 14).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters
whose vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
6. Break-adjusted total reserves equal break-adjusted required reserves (line 7) plus excess
reserves (line 13).
7. To adjust required reserves for discontinuities that are due to regulatory changes in
reserve requirements, a multiplicative procedure is used to estimate what required reserves
would have been in past periods had current reserve requirements been in effect. Breakadjusted required reserves include required reserves against transactions deposits and nonpersonal time and savings deposits (but not reservable nondeposit liabilities).
8. The break-adjusted monetary base equals (1) break-adjusted total reserves (line 5), plus
(2) the (unadjusted) currency component of the money stock, plus (3) (for all quarterly
reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required reserves) the break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
9. Reflects actual reserve requirements, including those on nondeposit liabilities, with no
adjustments to eliminate the effects of discontinuities associated with regulatory changes in
reserve requirements.
10. Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve
requirements.
11. The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total
reserves (line 9), plus (2) required clearing balances and adjustments to compensate for float
at Federal Reserve Banks, plus (3) the currency component of the money stock, plus (4) (for
all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault
Cash" and for all those weekly reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to satisfy current reserve
requirements. Since February 1984, currency and vault cash figures have been measured over
the computation periods ending on Mondays.
12. Unadjusted total reserves (line 9) less unadjusted required reserves (line 11).
Monetary and Credit Aggregates
1.21
13
MONEY STOCK MEASURES1
Billions of dollars, averages of daily figures
2001
Dec/
2002
Dec/
2003
Dec/
2004
Dec/
Seasonally adjusted
1 Ml
2 M2
3 M3
1,178.0
5,447.2
8,034.0
1,215.4
5,799.7
8,571.5
1,297.2
6,077.6
8,886.0
1,365.7
6,423.2
9,451.5
1,365.7
6,423.2
9,451.5
1,356.3
6,436.9
9,499.1
1,364.1
6,450.7
9,532.7
1,371.4
6,469.9
9,561.3
581.1
8.0
331.5
257.4
626.1
7.8
302.1
279.3
662.1
7.7
317.2
310.2
696.9
7.6
333.1
328.0
696.9
7.6
333.1
328.0
699.6
7.5
324.7
324.5
701.6
7.5
333.5
321.5
703.9
7.5
337.6
322.5
4,269.2
2,586.8
4,584.3
2,771.9
4,780.3
2,808.4
5,057.5
3,028.3
5,057.5
3,028.3
5,080.6
3,062.2
5,086.6
3,082.0
5,098.5
3,091.4
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
1,740.0
633.8
686.5
2,062.0
590.0
695.6
2,340.5
536.2
761.9
2,638.0
544.7
905.9
2,638.0
544.7
905.9
2,650.1
550.3
958.6
2,657.2
557.4
972.4
2,666.3
568.1
977.6
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
574.4
338.9
114.1
719.3
301.7
116.9
833.2
272.3
119.7
892.0
269.7
159.5
892.0
269.7
159.5
894.5
274.2
166.5
888.1
279.0
173.0
882.0
282.0
178.8
982.1
1,198.6
911.4
1,251.1
798.2
1,121.1
713.2
1,072.4
713.2
1,072.4
711.4
1,060.7
704.9
1,043.3
700.1
1,039.5
375.8
211.8
476.8
231.5
508.9
297.0
508.6
381.9
508.6
381.9
480.7
395.8
497.9
395.3
491.2
404.3
4
5
6
7
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Nontransaction components
8 In M27
9 In M3 onlys
Money market mutual funds
16 Retail12
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
Not seasonally adjusted
Measures2
20 Ml
21 M2
22 M3
1,204.1
5,480.9
8,101.5
1,241.2
5,828.8
8,630.3
1,323.9
6,103.9
8,929.9
1,393.2
6,446.6
9,482.0
1,393.2
6,446.6
9,482.0
1,354.8
6,401.6
9,476.7
1,348.1
6,401.8
9,508.4
1,375.2
6,464.9
9,581.0
585.2
7.9
350.2
260.8
630.3
7.7
319.6
283.7
666.7
7.6
334.8
314.8
702.4
7.5
350.8
332.4
702.4
7.5
350.8
332.4
697.3
7.5
324.4
325.6
700.7
7.5
323.9
316.1
702.7
7.4
338.3
326.8
Nontransaction components
27 In M27
28 In M3 onlys
4,276.9
2,620.6
4,587.5
2,801.5
4,780.1
2,826.0
5,053.4
3,035.4
5,053.4
3,035.4
5,046.8
3,075.1
5,053.7
3,106.5
5,089.7
3,116.1
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
1,742.5
634.6
689.8
2,061.0
590.6
697.6
2,337.3
536.7
762.7
2,632.4
545.2
905.8
2,632.4
545.2
905.8
2,622.0
550.9
951.1
2,628.6
558.1
962.5
2,653.5
568.8
973.5
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
575.3
339.3
114.6
719.0
302.0
117.2
832.1
272.6
119.8
890.1
269.9
159.5
890.1
269.9
159.5
274.6
165.2
878.5
279.3
171.3
877.8
282.4
178.1
985.2
1,229.4
915.0
1,281.5
801.4
1,144.2
715.8
1,089.6
715.8
1,089.6
714.2
1,086.3
709.2
1,066.4
707.3
1,051.2
376.5
210.3
476.4
228.8
506.5
292.8
504.3
376.3
504.3
376.3
475.6
396.9
504.3
402.0
499.2
414.1
23
24
25
26
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Money market mutual funds
35 Retail12
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appear on following page.
14
Federal Reserve Bulletin Statistical Supplement • June 2005
NOTES TO TABLE 1.21
1. Latest monthly and weekly figures are available from the Board's H.6 (508) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 are available from the Money and Reserves Projections Section, Division of Monetary
Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depository institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement account (IRA) and Keogh balances at depository institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted Ml.
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depository institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the result to seasonally adjusted M2.
3. Currency outside the U.S. Treasury, Federal Reserve Banks, and vaults of depository
institutions.
4. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers.
Travelers checks issued by depository institutions are included in demand deposits.
5. Demand deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations (excluding those amounts held by
depository institutions, the U.S. government, and foreign banks and official institutions) less
cash items in the process of collection and Federal Reserve float.
6. Consists of NOW and ATS account balances at all depository institutions, credit union
share draft account balances, and demand deposits at thrift institutions.
7. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances.
8. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted.
9. Small time deposits are those issued in amounts of less than $100,000. All IRAs and
Keogh accounts at commercial banks and thrift institutions are subtracted from small time
deposits.
10. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
11. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
12. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
A. All commercial banks
15
Assets and Liabilities'
Billions of dollars
Wednesd ay figures
Monthly averages
Account
May
Nov.'
2005
2005
2004
2004
Dec'
Jan.'
Feb.'
Mar.'
Apr.
May
May 4
May 11
May 18
May 25
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
6.544.0'
1,928.7'
1,188.8
739.9'
4.615.4'
887.3'
2.396.7'
327.9
2.068.8'
659.5'
232.5
439.3'
310.1
333.3
592.2
6.743.8
1,917.3
1,143.8
773.5
4.826.5
915.7
2.518.4
393.0
2.125.4
684.2
235.8
472.3
357.8
323.9
645.3
6.769.8
1,926.8
1,146.6
780.2
4.843.0
924.0
2.538.6
398.5
2.140.1
692.9
214.7
472.8
332.9
326.0
650.5
6.848.7
1,968.6
1,177.9
790.7
4.880.1
940.1
2.563.5
405.7
2.157.8
699.0
198.9
478.6
293.4
344.6
654.1
6.955.1
2,018.7
1,212.2
806.5
4.936.4
949.4
2.589.9
407.3
2.182.6
698.2
218.6
480.3
298.6
340.5
660.4
7.038.1
2,040.0
1,211.3
828.7
4.998.1
955.0
2.641.6
415.1
2.226.4
704.1
224.5
472.8
281.8
354.6
680.7
7.059.9
2,027.8
1,186.9
840.9
5.032.0
967.0
2.667.3
419.3
2.248.0
705.7
219.1
472.9
293.0
335.8
668.6
7.110.2
2,055.1
1,192.8
862.3
5.055.2
978.7
2.672.6
422.9
2.249.8
699.1
231.1
473.6
291.2
340.5
666.9
7.070.0
2,035.2
1,189.1
846.1
5.034.8
969.3
2.670.1
421.0
2.249.1
700.3
224.1
470.9
294.4
335.0
656.4
7.087.1
2,050.7
1,202.9
847.8
5.036.3
972.9
2.672.8
422.0
2.250.7
696.8
224.1
469.7
291.0
345.2
670.8
7.086.7
2,050.1
1,189.5
860.6
5.036.6
976.6
2.662.7
422.1
2.240.6
699.8
229.9
467.5
295.0
336.0
656.0
7.133.1
2,060.5
1,193.0
867.5
5,072.7
986.2
2.672.7
423.5
2.249.3
700.4
232.5
480.8
294.1
339.3
663.8
7,707.8r
7,999.5
8,008.0
8,070.4
8,184.7
8,285.7
8,287.7
8,339.2
8,286.0
8,324.7
8,304.2
8,360.8
5.060.2
661.7
4.398.5
1,098.3
3,300.2
1,544.0
423.5
1,120.5
81.3
411.6
5.282.3
668.2
4.614.0
1,179.5
3.434.5
1,579.5
426.2
1,153.2
20.8
493.8
5.311.3
674.6
4.636.7
1,192.2
3,444.5
1,555.6
393.1
1,162.5
40.4
485.0
5,345.0
659.3
4.685.7
1,219.1
3.466.7
1,511.1
353.9
1,157.2
83.9
480.3
5.358.1
671.0
4.687.1
1,219.3
3,467.8
1,550.6
365.4
1,185.2
83.6
485.7
5.411.6
697.6
4.714.0
1,238.8
3,475.2
1,578.4
350.7
1,227.7
95.8
496.9
5.451.4
667.4
4.784.0
1,277.0
3,507.0
1,567.9
360.4
1,207.5
67.5
514.1
5.455.9
674.7
4.781.2
1,280.2
3,501.0
1,580.8
348.3
1,232.4
95.9
497.3
5.449.2
634.4
4,814.8
1,271.7
3.543.1
1,591.2
369.9
1,221.3
66.2
491.5
5.459.8
640.8
4.819.0
1,281.9
3,537.2
1,581.7
354.2
1,227.4
84.5
503.8
5.429.8
676.6
4.753.2
1,275.2
3,478.0
1,575.1
343.1
1,232.0
108.3
488.4
5.460.0
728.3
4,731.7
1,286.9
3.444.8
1,583.3
342.3
1,241.0
109.6
488.9
7,097.2
7,376.3
7,392.2
7,420.3
7,478.1
7,582.7
7,600.9
7,629.9
7,598.0
7,629.7
7,601.5
7,641.7
610.6'
623.1
615.8
650.0
706.6
703.0
686.7
709.3
688.0
695.0
702.7
719.0
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
46 Total assets7
47
48
49
50
51
52
53
54
55
56
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
57 Total liabilities
58 Residual (assets less liabilities)5
Footnotes appear on p. 21.
6,535.9'
1,932.0'
1,196.3
735.7'
4.603.9
891.3'
2.396.3'
328.6
2.067.8'
654.0'
259.3'
394.6'
224.8
437.5'
311.1
327.8
592.0
6,778.8
1,926.0
1.151.5
774.5
4.852.8
915.7
2.534.8
393.0
2.141.8
688.7
294.1
394.6
241.0
472.6
361.6
334.0
647.7
6,813.0
1,934.7
1.150.2
784.5
4.878.3
924.3
2,547.5
397.4
2.150.1
704.7
311.1
393.5
224.8
477.0
337.0
345.0
652.0
6,858.9
1,971.1
1.173.2
797.9
4.887.8
935.9
2.562.7
403.9
2.158.8
712.4
317.9
394.4
200.9
476.0
289.5
354.2
654.8
6,940.5
2,015.4
1.207.5
807.9
4.925.1
949.1
2.584.6
407.5
2.177.1
703.2
307.1
396.2
216.5
471.7
293.7
337.5
655.5
7,004.0
2,030.7
1.206.6
824.0
4,973.3
958.0
2.626.0
412.1
2.213.9
697.7
303.3
394.4
223.5
468.1
285.5
341.2
675.9
7,039.0
2,023.8
1.190.0
833.8
5.015.2
971.8
2.655.0
417.9
2.237.0
697.3
304.3
393.0
220.6
470.6
301.4
331.1
666.9
7,101.9
2,058.5
1,201.1
857.4
5.043.4
983.0
2.672.4
423.8
2.248.6
693.3
302.4
390.9
223.2
471.6
291.7
335.0
666.6
7,070.2
2,039.6
1.197.3
842.3
5.030.6
977.1
2.665.7
422.1
2.243.6
693.9
302.3
391.6
223.9
470.0
300.5
334.0
660.7
7,078.4
2,053.2
1.209.7
843.5
5.025.2
977.9
2.675.3
423.2
2.252.1
690.9
299.6
391.4
215.7
465.4
290.6
329.3
675.2
7,077.3
2,052.1
1,197.5
854.6
5.025.2
981.2
2.664.2
423.1
2.241.2
694.4
303.7
390.7
220.5
464.9
296.4
321.4
656.4
7,115.3
2,063.1
1.201.8
861.3
5.052.2
988.3
2.672.5
424.3
2.248.2
695.2
303.9
391.3
220.7
475.5
286.2
324.0
656.2
7,694.9'
8,050.8
8,075.6
8,087.1
8,156.8
8,236.7
8,268.9
8,325.5
8,295.4
8,303.9
8,282.0
8,312.1
5.050.6
652.4
4.398.2
1,106.9
3,291.3
1,560.3
424.0
1,136.3
77.1
407.9
5.293.2
674.1
4.619.1
1,169.9
3.449.2
1,572.4
423.6
1,148.8
30.1
506.4
5.340.2
711.8
4.628.4
1,190.0
3,438.4
1,542.1
391.5
1,150.7
47.9
494.8
5.346.1
671.8
4,674.3
1,229.7
3.444.6
1,507.8
350.9
1,156.9
89.0
485.9
5.360.5
662.8
4.697.7
1,229.9
3.467.8
1,548.7
362.9
1,185.8
88.5
492.1
5.404.7
688.3
4.716.4
1,242.0
3,474.4
1,566.4
351.9
1,214.4
89.0
488.6
5.470.1
674.2
4.796.0
1,283.4
3,512.6
1,574.5
364.9
1,209.6
50.4
492.7
5.446.7
665.2
4.781.5
1,289.8
3,491.8
1,599.0
348.9
1,250.1
91.2
492.7
5.455.8
633.5
4.822.3
1,281.7
3,540.7
1,620.7
375.2
1,245.4
56.6
480.5
5.447.4
622.1
4.825.3
1,290.2
3,535.1
1,603.9
356.1
1,247.8
77.1
495.4
5.412.5
662.5
4.750.1
1,282.2
3,467.9
1,591.8
343.2
1,248.5
102.6
483.0
5.418.6
703.9
4,714.7
1,297.7
3.417.0
1,590.3
339.4
1,250.9
109.5
489.8
7,095.9
7,402.1
7,425.0
7,428.8
7,489.9
7,548.6
7,587.8
7,629.7
7,613.6
7,623.8
7,590.0
7,608.2
599.0'
648.7
650.6
658.3
667.0
688.1
681.2
695.8
681.8
680.1
692.0
703.9
16
Federal Reserve Bulletin Statistical Supplement • June 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES
B. Domestically chartered commercial banks
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
May
Nov.'
2005
2005
2004
2004
Dec'
Jan.'
Feb.'
Mar.'
Apr.
May
May 4
May 11
May 18
May 25
Seasonall { adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
5,912.4
1,670.7
1,096.7
574.0
4,241.7
758.1
2,379.0
327.9
2,051.1
659.5'
94.7
350.4'
275.5
271.8
559.5
6,068.7
1,640.2
1,053.6
586.6
4,428.5
780.5
2,500.2
393.0
2,107.3
684.2
88.6
374.9
305.0
261.1
609.3
6,134.9
1,660.6
1,063.2
597.4
4,474.3
786.0
2,520.2
398.5
2,121.7
692.9
97.7
377.4
280.4
264.9
612.8
6,200.8
1,679.6
1,091.2
588.4
4,521.2
798.7
2,544.7
405.7
2,139.0
699.0
98.7
380.0
245.1
278.6
623.6
6,281.9
1,718.4
1,116.5
601.9
4,563.5
806.6
2,571.5
407.3
2,164.1
698.2
107.4
379.8
253.7
279.0
630.1
6,355.9
1,735.0
1,118.1
617.0
4,620.9
813.0
2,623.3
415.1
2,208.1
704.1
107.4
373.1
235.1
294.0
648.6
6,376.2
1,727.5
1,101.5
626.0
4,648.7
819.5
2,648.7
419.3
2,229.4
705.7
103.9
370.9
243.6
277.2
635.7
6,409.5
1,750.5
1,106.1
644.3
4,659.0
827.1
2,655.1
422.9
2,232.3
699.1
105.7
372.0
238.7
281.8
632.5
6,383.7
1,738.3
1,107.0
631.3
4,645.4
820.9
2,652.3
421.0
2,231.3
700.3
102.7
369.2
239.4
276.0
624.1
6,388.9
1,747.3
1,114.8
632.5
4,641.6
822.8
2,655.3
422.0
2,233.2
696.8
98.4
368.3
241.1
286.0
638.4
6,391.6
1,747.2
1,101.7
645.5
4,644.3
824.8
2,645.4
422.1
2,223.3
699.8
107.8
366.5
240.7
276.6
623.0
6,422.5
1,753.9
1,104.8
649.1
4,668.5
831.7
2,655.3
423.5
2,231.8
700.4
103.6
377.5
242.0
279.9
628.7
6,947.7
7,173.1
7,222.1
7,278.2
7,375.2
7,464.5
7,463.5
7,493.2
7,453.8
7,485.4
7,462.8
7,503.9
4,563.9
650.0
3,913.9
619.7
3,294.2
1,213.2
380.9
832.3
258.0
313.8
4,739.9
656.5
4,083.4
658.3
3,425.1
1,218.3
374.9
843.4
190.3
395.2
4,770.7
662.3
4,108.3
667.9
3,440.4
1,220.5
342.2
878.4
216.3
393.3
4,795.2
647.4
4,147.8
684.5
3,463.3
1,185.9
315.5
870.4
265.1
390.1
4,823.6
658.7
4,164.9
703.4
3,461.5
1,212.2
323.3
889.0
248.7
391.3
4,873.5
685.0
4,188.5
715.1
3,473.4
1,234.7
308.9
925.7
253.3
406.7
4,889.1
655.6
4,233.5
728.3
3,505.2
1,228.4
318.2
910.2
244.1
421.8
4,895.8
663.1
4,232.8
733.5
3,499.3
1,235.8
310.4
925.4
260.9
405.4
4,899.4
622.3
4,277.1
735.7
3,541.4
1,241.3
329.2
912.1
231.4
404.4
4,900.3
628.9
4,271.4
735.9
3,535.4
1,239.4
319.0
920.4
250.9
413.3
4,870.4
664.8
4,205.6
729.3
3,476.2
1,230.3
304.3
926.0
273.5
399.5
4,893.6
716.7
4,176.9
733.8
3,443.0
1,238.9
306.6
932.3
274.9
396.0
6,348.9
6,543.7
6,600.9
6,636.3
6,675.9
6,768.1
6,783.5
6,798.0
6,776.5
6,804.0
6,773.7
6,803.3
598.8
629.4
621.3
641.9
699.2
696.4
680.0
695.3
677.3
681.4
689.1
700.6
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)5
Footnotes appear on p. 21.
5,907.1
1,674.0
1,104.2
569.8
4,233.0
762.0
2,378.7'
328.6
2,050.1
n.a.
n.a.
654.0'
259.3'
394.6'
90.3
348.1'
276.6
266.9
558.6
6,102.1
1,648.8
1,061.3
587.5
4,453.3
781.1
2,516.7
393.0
2,123.7
1,081.9
1,041.8
688.7
294.1
394.6
89.7
377.2
308.7
271.2
612.4
6,172.3
1,668.5
1,066.8
601.6
4,503.9
785.4
2,529.1
397.4
2,131.7
1,082.6
1,049.1
704.7
311.1
393.5
101.9
382.7
284.5
281.7
613.6
6,208.6
1,682.2
1,086.6
595.6
4,526.5
793.9
2,543.8
403.9
2,140.0
1,080.2
1,059.8
712.4
317.9
394.4
97.8
378.6
241.2
288.7
622.3
6,265.5
1,715.1
1,111.8
603.3
4,550.5
804.5
2,566.2
407.5
2,158.6
1,090.0
1,068.7
703.2
307.1
396.2
103.3
373.2
248.7
276.9
623.5
6,318.6
1,725.7
1,113.4
612.3
4,592.9
814.0
2,607.7
412.1
2,195.6
1,113.7
1,081.9
697.7
303.3
394.4
104.9
368.7
238.7
282.6
643.9
6,350.0
1,723.4
1,104.6
618.8
4,626.6
823.2
2,636.4
417.9
2,218.5
1,126.7
1,091.7
697.3
304.3
393.0
102.3
367.5
252.0
273.0
635.3
6,403.7
1,753.9
1,114.4
639.5
4,649.7
831.3
2,654.8
423.8
2,231.1
1,127.1
1,103.9
693.3
302.4
390.9
100.8
369.4
239.2
276.8
631.6
6,381.0
1,742.8
1,115.2
627.5
4,638.3
828.0
2,647.9
422.1
2,225.8
1,126.8
1,099.1
693.9
302.3
391.6
100.9
367.7
245.6
275.1
628.7
6,382.3
1,749.8
1,121.6
628.2
4,632.5
827.5
2,657.8
423.2
2,234.6
1,132.5
1,102.0
690.9
299.6
391.4
92.7
363.5
240.7
270.7
641.8
6,386.0
1,749.2
1,109.7
639.5
4,636.7
829.1
2,646.8
423.1
2,223.8
1,119.9
1,103.7
694.4
303.7
390.7
102.8
363.6
242.1
262.7
622.8
6,410.1
1,756.5
1,113.6
643.0
4,653.6
834.4
2,655.1
424.3
2,230.8
1,125.2
1,105.6
695.2
303.9
391.3
96.5
372.4
234.2
265.9
620.4
6,937.7
7,223.6
7,281.2
7,290.9
7,344.7
7,414.3
7,441.3
7,482.0
7,460.9
7,466.3
7,444.4
7,461.4
4,543.0
640.9
3,902.1
617.0
3,285.1
1 229 4
381.4
848.0
255.6
311.7
4,764.0
662.4
4,101.6
661.6
3,440.0
1 211 2
372.3
839.0
197.0
405.8
4,802.8
699.1
4,103.6
669.4
3,434.3
1,207.1
340.5
866.6
222.4
402.2
4,789.2
659.5
4,129.6
688.5
3,441.2
1,182.6
312.5
870.1
269.4
395.1
4,819.0
650.5
4,168.5
707.1
3,461.4
1,210.3
320.8
889.5
254.0
398.0
4,861.4
676.2
4,185.2
712.6
3,472.6
1,222.6
310.1
912.4
247.1
398.7
4,896.6
662.6
4,234.0
723.2
3,510.8
1,235.0
322.7
912.3
229.8
402.2
4,873.8
653.8
4,220.0
730.1
3,490.0
1,254.1
311.0
943.1
258.6
402.4
4,891.8
621.5
4,270.3
731.4
3,538.9
1,270.8
334.5
936.3
224.2
394.8
4,875.3
610.6
4,264.7
731.4
3,533.3
1,261.7
320.9
940.8
245.6
406.3
4,842.5
651.0
4,191.5
725.3
3,466.1
1,246.9
304.4
942.5
270.1
395.6
4,838.4
692.6
4,145.7
730.5
3,415.2
1,245.8
303.6
942.2
277.4
398.5
6,339.7
6,578.0
6,634.5
6,636.3
6,681.3
6,729.8
6,763.6
6,788.8
6,781.6
6,788.8
6,755.1
6,760.1
598.0
645.6
646.7
654.6
663.4
684.5
677.7
693.1
679.2
677.5
689.4
701.3
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
C. Large domestically chartered commercial banks
17
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Mayr
Nov.'
2005
2005
2004
2004
Dec.'
Jan.'
Feb.'
Mar.'
Apr.
May
May 4
May 11
May 18
May 25
Seasonall 1 adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Trading account
5
Investment account
6
Mortgage-backed
7
Other
8
Other securities
9
Trading account
10
Investment account
11
State and local government . .
12
Other
13 Loans and leases in bank credit3 . . . .
14
Commercial and industrial
15
Real estate
16
Revolving home equity
17
Other
18
Other residential
19
Commercial
20
Consumer
21
Security4
22
Federal funds sold to and
repurchase agreements
with broker-dealers
23
Other
24
State and local government
25
Agricultural
26
Federal funds sold to and
repurchase agreements with
others
27
All other loans
28
Lease-financing receivables
29 Interbank loans
30
Federal funds sold to and
repurchase agreements with
commercial banks
31
Other
32 Cash assets5
33 Other assets6
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
45 Total liabilities
46 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,310.9
949.3
587.9
45.7
542.2
436.5
105.7
361.4
179.8
181.6
33.4
148.2
2,361.7
453.6
1,200.3
231.5
968.8
614.6
354.2
368.3
87.7
3,392.0
930.9
561.4
45.9
515.5
410.7
104.8
369.5
202.1
167.3
33.5
133.9
2,461.1
460.0
1,261.9
280.2
981.7
614.9
366.8
385.5
80.8
3,441.8
952.1
574.2
35.3
539.0
435.7
103.3
377.9
211.0
166.9
33.0
133.9
2,489.7
463.5
1,273.9
285.3
988.5
620.2
368.4
386.8
90.0
3,496.4
967.3
598.4
34.3
564.1
459.3
104.8
368.9
201.1
167.8
33.2
134.6
2,529.1
471.8
1,298.3
291.0
1,007.3
635.7
371.6
391.3
90.9
3,549.3
1,005.7
625.1
51.6
573.5
467.9
105.6
380.6
203.3
177.4
34.3
143.1
2,543.6
478.1
1,296.7
292.2
1,004.6
629.5
375.0
392.3
99.7
3,574.7
1,025.2
633.1
52.4
580.7
472.8
107.9
392.1
204.9
187.2
35.2
152.0
2,549.5
480.8
1,307.2
297.1
1,010.1
634.2
375.9
391.0
100.0
3,564.0
1,011.2
611.5
48.1
563.4
464.7
98.8
399.8
207.9
191.8
36.1
155.7
2,552.8
484.1
1,314.8
298.7
1,016.1
639.0
377.1
389.4
96.5
3,569.6
1,031.4
611.6
54.0
557.6
458.4
99.3
419.8
218.6
201.1
36.8
164.3
2,538.2
488.1
1,301.4
299.5
1,001.9
623.1
378.9
382.4
98.3
3,545.6
1,016.7
611.2
50.2
561.0
460.8
99.8
405.5
207.6
197.9
36.3
161.6
2,529.0
482.5
1,302.8
298.1
1,004.7
624.4
376.1
382.4
95.3
3,560.1
1,025.2
618.0
61.4
556.6
455.8
100.5
407.2
207.4
199.8
36.5
163.3
2,534.9
484.5
1,313.0
299.1
1,013.8
633.6
376.0
381.7
91.2
3,557.9
1,030.3
609.3
50.4
558.9
460.1
98.5
421.0
219.9
201.1
36.8
164.2
2,527.6
486.7
1,293.6
299.6
994.0
613.8
376.0
384.2
100.4
3,577.3
1,035.9
610.4
54.2
556.2
456.8
99.0
425.5
223.7
201.8
37.0
164.8
2,541.4
492.4
1,295.9
300.5
995.4
613.1
378.1
384.1
96.1
64.2
23.5
15.3
9.3
59.9
20.9
16.6
9.6
69.5
20.5
16.9
9.6
69.1
21.9
17.0
9.4
77.9
21.8
16.7
9.3
77.3
22.7
16.8
9.2
81.5
15.0
16.9
9.2
82.6
15.7
17.0
9.1
79.7
15.6
17.0
9.2
75.3
15.9
16.9
9.2
84.2
16.2
17.0
9.1
80.3
15.9
16.9
9.1
17.9
112.0
97.3
198.5
27.2
125.5
94.0
219.5
27.1
126.0
95.9
198.5
27.4
127.3
95.8
163.7
27.2
127.9
95.6
171.2
28.0
121.8
94.8
157.1
21.9
125.9
94.0
171.1
20.5
128.7
92.7
164.0
20.6
126.5
92.7
163.6
18.4
127.4
92.8
169.5
15.5
128.4
92.7
165.4
24.0
130.1
92.7
166.1
91.1
107.4
155.8
413.7
122.6
96.8
145.5
440.6
124.7
73.9
150.6
446.5
104.2
59.5
158.9
448.0
106.2
65.0
156.7
451.5
92.0
65.1
170.8
463.8
107.4
63.7
157.4
454.1
98.4
65.5
163.3
447.1
97.2
66.4
157.0
446.4
104.2
65.2
162.8
454.9
98.3
67.1
156.1
444.8
98.9
67.2
159.8
442.9
4,039.7
4,159.3
4,199.8
4,230.3
4,292.7
4,331.3
4,311.6
4,309.5
4,277.8
4,312.8
4,289.8
4,311.8
2,364.4
309.4
2,055.0
287.6
1,767.4
738.6
193.9
544.7
235.2
242.8
2,444.4
322.1
2,122.2
306.7
1,815.5
737.0
195.9
541.1
183.0
320.8
2,461.0
326.4
2,134.6
315.3
1,819.3
744.8
174.3
570.4
207.6
318.3
2,464.1
315.0
2,149.2
324.7
1,824.5
718.1
162.2
555.9
253.5
313.9
2,471.0
321.7
2,149.4
337.3
1,812.1
735.4
166.0
569.4
240.0
316.3
2,499.5
334.5
2,165.0
341.2
1,823.7
759.3
153.3
606.1
247.4
328.8
2,502.1
312.4
2,189.7
348.6
1,841.1
750.3
162.6
587.7
238.6
345.8
2,504.9
315.8
2,189.1
350.3
1,838.8
742.8
152.4
590.5
250.2
327.8
2,500.7
289.5
2,211.2
354.2
1,857.0
749.5
167.5
582.0
224.0
328.8
2,501.8
294.7
2,207.1
352.2
1,854.9
752.3
164.7
587.5
241.3
338.1
2,486.8
319.9
2,166.9
348.2
1,818.7
733.7
146.5
587.2
262.1
324.2
2,502.9
351.3
2,151.5
349.6
1,801.9
740.8
144.4
596.4
261.4
317.1
3,581.0
3,685.1
3,731.6
3,749.7
3,762.8
3,835.0
3,836.9
3,825.7
3,803.0
3,833.4
3,806.7
3,822.2
458.7
474.2
468.2
480.6
529.9
496.2
474.7
483.8
474.7
479.4
483.0
489.6
18
Federal Reserve Bulletin Statistical Supplement • June 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities' —Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Mayr
Nov.'
2005
2005
2004
2004
Dec.'
Jan.'
Feb.'
Mar.'
Apr.
May
May 4
May 11
May 18
May 25
Not seasona lly adjusted
Assets
47 Bank credit
48
Securities in bank credit
49
Treasury and Agency securities2 .
50
Trading account
51
Investment account
52
Mortgage-backed
53
Other
54
Other securities
55
Trading account
56
Investment account
57
State and local government .
58
Other
59 Loans and leases in bank credit3 . . .
60
Commercial and industrial
61
Real estate
62
Revolving home equity
63
Other
64
Other residential
65
Commercial
66
Consumer
67
Credit cards and related plans .
68
Other
69
Security4
70
Federal funds sold to and
repurchase agreements
with broker-dealers
71
Other
72
State and local government
73
Agricultural
74
Federal funds sold to and
repurchase agreements
with others
75
All other loans
76
Lease-financing receivables
77 Interbank loans
78 Federal funds sold to and
repurchase agreements
with commercial banks
79
Other
80 Cash assets58
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.
3,313.8
954.9
597.6
46.4
551.3
443.9
107.4
357.2
177.7
179.5
33.0
146.5
2,359.0
455.4
1,204.3
232.2
972.2
616.8
355.4
365.7
115.7
250.0
83.4
3,410.7
941.1
570.6
46.3
524.3
418.4
105.9
370.4
202.7
167.8
33.6
134.2
2,469.7
461.6
1,265.5
280.3
985.2
617.1
368.1
386.2
142.9
243.3
81.7
3,461.2
957.1
575.0
35.3
539.7
436.5
103.3
382.1
213.3
168.8
33.4
135.4
2,504.1
462.7
1,275.7
284.7
991.0
621.7
369.3
391.1
149.2
241.9
94.2
3,500.8
970.7
594.6
34.1
560.5
456.3
104.2
376.1
205.0
171.1
33.8
137.3
2,530.1
467.6
1,296.7
289.6
1,007.1
635.6
371.5
398.1
156.7
241.4
90.2
3,534.4
1,002.5
620.5
51.9
568.6
462.2
106.3
382.0
204.0
178.0
34.4
143.6
2,531.9
476.1
1,292.1
292.7
999.4
626.3
373.1
395.5
152.2
243.2
95.6
3,542.5
1,008.6
621.2
51.9
569.3
462.4
106.9
387.5
202.5
185.0
34.8
150.1
2,533.9
481.2
1,298.9
294.7
1,004.2
630.5
373.7
388.8
145.7
243.2
97.3
3,548.4
1,003.7
611.1
48.4
562.7
463.3
99.4
392.6
204.2
188.4
35.4
152.9
2,544.7
486.3
1,311.8
297.7
1,014.1
637.7
376.4
386.1
145.2
240.8
94.9
3,572.3
1,037.0
622.1
54.8
567.2
466.4
100.8
414.9
216.1
198.8
36.4
162.4
2,535.3
490.1
1,305.8
300.3
1,005.5
625.3
380.2
379.6
142.6
237.1
93.6
3,553.8
1,022.1
620.4
50.9
569.5
468.1
101.1
401.7
205.7
196.1
35.9
160.1
2,531.7
487.2
1,305.6
299.2
1,006.4
625.4
376.7
379.7
141.7
234.6
93.7
3,559.8
1,029.8
626.9
62.1
564.8
462.7
101.7
402.9
205.2
197.7
36.1
161.6
2,530.1
486.6
1,318.8
299.9
1,018.8
636.7
377.8
378.5
140.9
234.2
85.6
3,559.3
1,034.8
619.9
51.4
568.5
467.7
100.4
415.0
216.8
198.2
36.3
161.9
2,524.5
488.6
1,298.6
300.5
998.1
616.3
377.6
381.3
143.8
234.1
95.5
3,572.3
1,040.7
621.3
55.0
566.4
465.7
100.4
419.3
220.5
198.9
36.4
162.4
2,531.6
492.9
1,299.1
301.3
997.8
614.6
379.0
381.5
143.7
234.4
89.3
61.0
22.3
15.3
9.3
60.6
21.1
16.6
9.6
72.8
21.4
16.9
9.7
68.5
21.7
17.0
9.5
74.7
20.9
16.7
9.2
75.2
22.0
16.8
9.1
80.1
14.8
16.9
9.1
78.6
14.9
17.0
9.1
78.4
15.3
17.0
9.1
70.7
14.9
16.9
9.1
80.0
15.4
17.0
9.1
74.6
14.8
16.9
9.1
17.9
110.5
97.2
201.9
27.2
126.8
94.4
221.7
27.1
130.9
95.8
202.8
27.4
127.5
96.1
163.1
27.2
124.2
95.3
166.1
28.0
119.2
94.5
156.6
21.9
123.9
93.8
175.8
20.5
127.0
92.6
166.7
20.6
126.0
92.7
170.5
18.4
123.6
92.6
170.0
15.5
126.3
92.6
169.5
24.0
126.2
92.5
163.7
92.6
109.3
152.0
412.9
123.9
97.8
151.6
443.7
127.4
75.4
162.8
447.3
103.9
59.3
167.9
446.7
103.0
63.1
156.7
444.8
91.8
64.8
164.5
459.1
110.3
65.5
156.2
453.7
100.1
66.7
159.5
446.2
101.3
69.3
156.6
451.0
104.5
65.4
152.7
458.4
100.7
68.8
146.7
444.6
97.5
66.2
149.2
434.7
4,041.3
4,189.6
4,236.5
4,241.8
4,265.6
4,287.2
4,299.4
4,310.2
4,297.0
4,306.2
4,285.5
4,285.5
2,348.0
304.5
2,043.5
284.8
1,758.7
754.9
194.4
560.5
232.8
240.6
2,457.1
324.9
2,132.3
310.0
1,822.3
729.9
193.3
536.6
189.6
331.4
2,480.0
350.3
2,129.7
316.7
1,813.0
731.3
172.7
558.6
213.7
327.1
2,463.2
323.3
2,139.8
328.6
1,811.2
714.9
159.2
555.6
257.8
318.9
2,476.6
317.9
2,158.7
341.0
1,817.7
733.5
163.5
570.0
245.3
323.0
2,489.0
329.9
2,159.2
338.8
1,820.4
747.2
154.5
592.8
241.3
320.8
2,505.3
318.7
2,186.6
343.5
1,843.1
756.9
167.1
589.8
224.3
326.2
2,487.4
310.7
2,176.7
346.9
1,829.8
761.1
152.9
608.1
247.9
324.7
2,495.3
290.2
2,205.1
349.9
1,855.2
778.9
172.8
606.2
216.8
319.3
2,480.2
282.8
2,197.4
347.6
1,849.7
774.6
166.6
607.9
235.9
331.0
2,467.2
313.1
2,154.0
344.2
1,809.8
750.3
146.6
603.7
258.7
320.2
2,462.0
336.5
2,125.5
346.3
1,779.2
747.8
141.5
606.3
263.9
319.7
3,576.2
3,708.1
3,752.2
3,754.7
3,778.3
3,798.4
3,812.7
3,821.1
3,810.4
3,821.7
3,796.4
3,793.3
465.1
481.4
484.3
487.1
487.2
488.7
486.7
489.1
486.6
484.5
489.1
492.1
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
D. Small domestically chartered commercial banks
19
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
May'
Nov.'
2005
2005
2004
2004
Dec'
Jan.'
Feb.'
Mar.'
Apr.
May
May 4
May 11
May 18
May 25
Seasonall { adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
2,599.6
719.6
507.0
212.6
1,880.0
304.5
1,178.7
96.4
1,082.3
291.2
7.0
98.6
77.0
115.9
145.8
2,675.0
707.5
490.4
217.1
1,967.5
320.6
1,238.4
112.8
1,125.6
298.7
7.8
102.0
85.6
115.6
168.7
2,692.0
707.4
487.9
219.5
1,984.6
322.6
1,246.4
113.2
1,133.2
306.1
7.7
101.9
81.9
114.3
166.3
2,703.5
711.4
491.9
219.5
1,992.1
327.0
1,246.4
114.7
1,131.6
307.8
7.8
103.2
81.4
119.6
175.6
2,734.5
714.6
493.4
221.3
2,019.8
328.5
1,274.7
115.1
1,159.6
305.9
7.7
103.1
82.4
122.3
178.6
2,787.0
715.6
490.7
224.9
2,071.4
332.2
1,316.0
118.0
1,198.0
313.1
7.4
102.6
78.0
123.2
184.8
2,813.5
717.6
491.3
226.2
2,095.9
335.4
1,333.9
120.6
1,213.3
316.3
7.4
103.0
72.6
119.8
181.6
2,838.1
717.3
492.8
224.6
2,120.8
339.0
1,353.7
123.4
1,230.3
316.8
7.4
103.9
74.7
118.5
185.4
2,836.6
720.2
494.3
225.8
2,116.4
338.4
1,349.5
122.9
1,226.6
317.9
7.3
103.2
75.8
119.1
177.7
2,826.0
719.4
494.1
225.3
2,106.7
338.3
1,342.3
122.9
1,219.4
315.2
7.2
103.6
71.7
123.1
183.4
2,831.9
715.2
490.6
224.6
2,116.7
338.2
1,351.8
122.5
1,229.2
315.6
7.4
103.8
75.3
120.5
178.2
2,843.6
716.5
492.9
223.6
2,127.1
339.3
1,359.4
122.9
1,236.4
316.3
7.5
104.6
75.9
120.1
185.7
2,906.2
3,012.1
3,021.2
3,046.9
3,084.4
3,139.0
3,153.2
3,182.0
3,174.5
3,169.8
3,171.3
3,190.6
2,199.5
340.6
1,858.9
332.1
1,526.8
474.5
187.0
287.6
22.8
71.1
2,295.5
334.3
1,961.2
351.6
1,609.6
481.3
179.0
302.3
7.3
74.4
2,309.7
336.0
1,973.7
352.6
1,621.1
475.8
167.8
308.0
8.7
75.1
2,331.0
332.4
1,998.6
359.8
1,638.8
467.8
153.3
314.5
11.6
76.2
2,352.6
337.0
2,015.6
366.2
1,649.4
476.8
157.3
319.5
8.7
75.0
2,374.0
350.5
2,023.5
373.8
1,649.7
475.3
155.7
319.7
5.8
77.9
2,387.0
343.2
2,043.8
379.7
1,664.1
478.1
155.6
322.5
5.5
76.0
2,390.9
347.3
2,043.6
383.2
1,660.5
493.0
158.1
334.9
10.7
77.6
2,398.7
332.8
2,065.9
381.5
1,684.4
491.8
161.7
330.1
7.4
75.5
2,398.5
334.2
2,064.3
383.7
1,680.6
487.2
154.3
332.9
9.6
75.3
2,383.6
344.9
2,038.7
381.1
1,657.5
496.6
157.8
338.8
11.4
75.4
2,390.7
365.4
2,025.3
384.2
1,641.2
498.0
162.2
335.9
13.5
78.9
2,767.9
2,858.6
2,869.3
2,886.7
2,913.2
2,933.1
2,946.6
2,972.3
2,973.5
2,970.6
2,967.0
2,981.1
138.3
153.6
152.0
160.3
171.3
205.9
206.6
209.7
201.1
199.2
204.3
209.5
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)5
Footnotes appear on p. 21.
2 593 2
719.2
506.6
212.6
1,874.1
306.6
1,174.3
96.4
1,077.9
n.a.
n.a.
288.3
143.7
144.6
6.9
97.9
74.6
114.9
145.8
2 691 4
707.8
490.6
217.1
1,983.6
319.5
1,251.1
112.7
1,138.5
464.7
673.7
302.5
151.2
151.3
8.0
102.5
87.1
119.6
168.7
2,711.1
711.4
491.9
219.5
1,999.7
322.7
1,253.5
112.7
1,140.7
460.8
679.9
313.6
161.9
151.7
7.7
102.3
81.7
118.9
166.3
2,707.8
711.5
492.0
219.5
1,996.4
326.3
1,247.2
114.3
1,132.9
444.7
688.2
314.3
161.2
153.1
7.5
101.1
78.1
120.8
175.6
2,731.1
712.5
491.3
221.3
2,018.6
328.4
1,274.1
114.9
1,159.2
463.6
695.5
307.8
154.8
153.0
7.7
100.6
82.6
120.2
178.6
2,776.1
717.0
492.2
224.9
2,059.1
332.8
1,308.7
117.4
1,191.4
483.1
708.2
308.8
157.6
151.2
7.6
101.1
82.1
118.1
184.8
2,801.6
719.8
493.5
226.2
2,081.9
336.9
1,324.6
120.2
1,204.4
489.1
715.3
311.2
159.0
152.2
7.4
101.8
76.2
116.7
181.6
2,831.4
716.9
492.4
224.6
2,114.5
341.3
1,349.0
123.4
1,225.6
501.9
723.7
313.7
159.8
153.8
7.3
103.3
72.4
117.3
185.4
2,827.2
720.6
494.8
225.8
2,106.6
340.8
1,342.3
122.9
1,219.4
501.4
722.4
314.1
160.6
157.0
7.2
102.2
75.0
118.5
177.7
2,822.5
720.0
494.7
225.3
2,102.5
340.9
1,339.0
123.3
1,215.8
495.7
724.2
312.4
158.7
157.2
7.1
102.9
70.7
118.0
183.4
2,826.7
714.4
489.8
224.6
2,112.2
340.5
1,348.2
122.5
1,225.7
503.6
726.1
313.0
159.9
156.6
7.3
103.2
72.6
116.1
178.2
2,837.8
715.9
492.2
223.6
2,122.0
341.5
1,355.9
122.9
1,233.0
510.6
726.6
313.7
160.2
156.9
7.2
103.6
70.5
116.7
185.7
2,896.4
3,034.0
3,044.7
3,049.1
3,079.2
3,127.2
3,141.9
3,171.8
3,163.9
3,160.1
3,158.9
3,175.9
2,195.0
336.4
1,858.6
332.1
1,526.5
474.5
187.0
287.6
22.8
71.1
2,306.8
337.6
1,969.3
351.6
1,617.7
481.3
179.0
302.3
7.3
74.4
2,322.8
348.8
1,973.9
352.6
1,621.3
475.8
167.8
308.0
8.7
75.1
2,326.0
336.2
1,989.8
359.8
1,630.0
467.8
153.3
314.5
11.6
76.2
2,342.4
332.6
2,009.9
366.2
1,643.7
476.8
157.3
319.5
8.7
75.0
2,372.3
346.3
2,026.0
373.8
1,652.2
475.3
155.7
319.7
5.8
77.9
2,391.3
343.9
2,047.4
379.7
1,667.7
478.1
155.6
322.5
5.5
76.0
2,386.4
343.1
2,043.3
383.2
1,660.1
493.0
158.1
334.9
10.7
77.6
2,396.5
331.3
2,065.2
381.5
1,683.7
491.8
161.7
330.1
7.4
75.5
2,395.1
327.8
2,067.3
383.7
1,683.5
487.2
154.3
332.9
9.6
75.3
2,375.3
337.9
2,037.4
381.1
1,656.3
496.6
157.8
338.8
11.4
75.4
2,376.4
356.2
2,020.2
384.2
1,636.0
498.0
162.2
335.9
13.5
78.9
2,763.4
2,869.9
2,882.3
2,881.6
2,903.0
2,931.4
2,950.9
2,967.8
2,971.3
2,967.2
2,958.7
2,966.8
132.9
164.2
162.4
167.5
176.2
195.8
191.0
204.0
192.6
193.0
200.2
209.1
20
Federal Reserve Bulletin Statistical Supplement • June 2005
1.26
COMMERCIAL BANKS IN THE UNITED STATES
E. Foreign-related institutions
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Mayr
Nov.'
2005
2005
2004
2004
Dec'
Jan.'
Feb.'
Mar.'
Apr.
May
May 4
May 11
May 18
May 25
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
13 Total assets7
14
15
16
17
18
19
20
21
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
22 Total liabilities
23 Residual (assets less liabilities)5
631.6
258.0
92.1
165.8
373.7
129.3
17.7
137.8
88.9
34.6
61.5
32.8
675.1
277.2
90.3
186.9
398.0
135.2
18.1
147.2
97.4
52.8
62.8
36.0
634.9
266.2
83.4
182.8
368.7
138.0
18.4
117.1
95.3
52.5
61.1
37.8
647.8
289.0
86.7
202.3
358.9
141.4
18.8
100.1
98.6
48.3
66.0
30.5
673.3
300.3
95.7
204.6
373.0
142.8
18.5
111.2
100.5
44.9
61.5
30.3
682.2
305.0
93.3
211.7
377.2
142.0
18.3
117.1
99.7
46.8
60.6
32.1
683.7
300.4
85.4
215.0
383.3
147.5
18.6
115.2
102.0
49.3
58.6
32.9
700.7
304.6
86.6
218.0
396.1
151.6
17.5
125.4
101.6
52.5
58.7
34.4
686.3
296.9
82.1
214.8
389.4
148.4
17.8
121.4
101.8
55.0
59.0
32.3
698.1
303.4
88.1
215.3
394.7
150.1
17.5
125.7
101.4
49.9
59.3
32.4
695.1
302.9
87.8
215.1
392.2
151.8
17.4
122.1
101.0
54.3
59.4
33.0
710.7
306.5
88.2
218.3
404.2
154.5
17.4
128.9
103.4
52.1
59.4
35.2
760.1
826.3
785.9
792.2
809.5
821.2
824.2
846.0
832.2
839.3
841.4
856.9
496.3
11.7
484.6
330.9
42.6
288.3
-176.7
97.8
542.4
11.8
530.6
361.2
51.4
309.8
-169.5
98.6
540.6
12.2
528.4
335.0
50.9
284.1
-176.0
91.7
549.9
11.9
538.0
325.1
38.4
286.8
-181.3
90.2
534.5
12.3
522.2
338.4
42.1
296.3
-165.1
94.4
538.0
12.6
525.4
343.8
41.8
302.0
-157.5
90.2
562.3
11.8
550.5
339.5
42.2
297.3
-176.6
92.3
560.1
11.6
548.5
344.9
37.9
307.1
-165.0
91.9
549.8
12.1
537.7
349.9
40.7
309.2
-165.3
87.1
559.5
11.9
547.7
342.2
35.2
307.0
-166.5
90.4
559.4
11.8
547.6
344.8
38.8
306.1
-165.2
88.8
566.4
11.6
554.8
344.5
35.8
308.7
-165.3
92.9
748.3
832.6
791.3
784.0
802.2
814.6
817.4
831.9
821.6
825.7
827.8
838.4
11.8
-6.3
-5.4
8.2
7.4
6.6
6.8
14.0
10.6
13.6
13.6
18.5
Not seasona lly adjusted
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Trading account
Investment account
Other securities
Trading account
Investment account
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
40 Total assets7
41
42
43
44
45
46
47
48
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
49 Total liabilities
50 Residual (assets less liabilities)5
Footnotes appear on p. 21.
628.9
258.0
92.1
33.0
59.1
165.8
99.7
66.2
370.9
129.3
17.7
134.5
89.4
34.6
60.9
33.3
676.6
277.2
90.3
32.1
58.1
186.9
118.2
68.8
399.5
134.6
18.1
151.3
95.4
52.8
62.8
35.3
640.6
266.2
83.4
27.1
56.3
182.8
114.3
68.6
374.4
138.9
18.4
122.9
94.3
52.5
63.3
38.3
650.3
289.0
86.7
29.9
56.7
202.3
113.4
88.9
361.3
142.0
18.8
103.1
97.4
48.3
65.5
32.5
675.0
300.3
95.7
37.3
58.4
204.6
113.9
90.7
374.7
144.5
18.5
113.2
98.4
44.9
60.6
32.0
685.4
305.0
93.3
37.6
55.7
211.7
120.8
90.9
380.3
144.0
18.3
118.6
99.4
46.8
58.6
32.0
689.0
300.4
85.4
29.7
55.8
215.0
124.2
90.8
388.6
148.6
18.6
118.3
103.2
49.3
58.1
31.6
698.3
304.6
86.6
29.8
56.8
218.0
126.8
91.2
393.7
151.6
17.5
122.4
102.1
52.5
58.2
35.0
689.2
296.9
82.1
27.5
54.6
214.8
123.9
90.9
392.3
149.1
17.8
123.0
102.4
55.0
58.9
31.9
696.1
303.4
88.1
30.6
57.5
215.3
124.3
91.0
392.7
150.4
17.5
122.9
101.9
49.9
58.6
33.4
691.3
302.9
87.8
30.0
57.8
215.1
123.9
91.2
388.4
152.1
17.4
117.8
101.3
54.3
58.7
33.6
705.2
306.5
88.2
31.7
56.4
218.3
126.8
91.5
398.6
153.9
17.4
124.2
103.1
52.1
58.0
35.8
757.2
827.2
794.4
796.2
812.1
822.4
827.6
843.5
834.6
837.6
837.5
850.7
507.6
11.5
496.1
330.9
42.6
288.3
-178.5
96.2
529.2
11.7
517.5
361.2
51.4
309.8
-166.9
100.6
537.4
12.7
524.8
335.0
50.9
284.1
-174.6
92.7
557.0
12.2
544.7
325.1
38.4
286.8
-180.4
90.8
541.5
12.3
529.2
338.4
42.1
296.3
-165.5
94.1
543.4
12.2
531.2
343.8
41.8
302.0
-158.2
89.8
573.6
11.5
562.0
339.5
42.2
297.3
-179.3
90.5
572.9
11.4
561.5
344.9
37.9
307.1
-167.4
90.4
564.0
12.0
552.0
349.9
40.7
309.2
-167.7
85.7
572.1
11.5
560.6
342.2
35.2
307.0
-168.5
89.1
570.1
11.4
558.6
344.8
38.8
306.1
-167.5
87.5
580.2
11.3
569.0
344.5
35.8
308.7
-167.9
91.3
756.2
824.1
790.5
792.5
808.5
818.8
824.2
840.9
832.0
835.0
834.9
848.1
1.0
3.1
3.8
3.7
3.6
3.6
3.5
2.6
2.6
2.6
2.6
2.6
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
F. Memo items
21
Assets and Liabilities' —Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
2004
May'
2004
Nov.'
2005
2005
Dec'
Jan.'
Feb.'
Mar.'
Apr.
May
May 4
May 11
May 18
May 25
Not seasonally adjusted
MEMO
1
2
3
4
5
6
7
8
9
10
Large domestically chartered banks,
adjusted for mergers
Revaluation gains on off-balance-sheet
items9
Revaluation losses on off-balancesheet items9
Mortgage-backed securities10
Pass-through
CMO, REMIC, and other
Net unrealized gains (losses) on
available-for-sale securities"
Securitized consumer loans12
Credit cards and related plans
Other
Securitized business loans12
99.0
95.7
103.7
93.1
89.3
88.4
89.3
90.8
87.3
84.4
91.5
90.9
82.5
496.4
381.3
115.0
90.5
487.6
369.5
118.1
95.1
504.5
388.2
116.3
83.7
525.3
409.9
115.4
78.8
537.9
418.7
119.2
78.8
540.9
421.9
119.1
80.3
543.4
426.6
116.8
82.8
554.2
433.9
120.3
77.0
554.3
434.5
119.7
76.7
549.0
429.3
119.7
84.3
556.0
435.9
120.1
82.6
554.3
434.4
119.9
-4.1
148.9
129.2
19.7
7.4
4.3
151.9
130.3
21.6
6.5
4.6
155.6
133.2
22.4
6.4
5.0
158.6
136.6
22.0
6.4
4.0
155.8
134.3
21.6
6.4
-3.1
148.8
127.7
21.0
6.4
-2.5
147.6
127.0
20.6
6.2
.4
151.6
131.4
20.1
6.1
-.1
150.5
130.1
20.4
6.1
-1.5
152.8
132.6
20.2
6.1
-.4
150.6
130.5
20.2
6.1
-.1
151.3
131.3
20.1
6.1
328.1
212.7
205.5
7.2
325.8
221.1
213.8
7.3
330.9
221.3
214.0
7.3
332.3
222.0
214.7
7.3
334.6
208.3
201.1
7.2
338.7
211.0
203.8
7.2
337.9
210.7
203.5
7.2
337.7
209.5
202.4
7.1
338.6
208.9
201.7
7.1
338.5
209.7
202.6
7.1
336.5
209.2
202.1
7.2
338.2
209.8
202.7
7.2
60.5
64.2
58.7
53.8
52.9
51.6
51.7
52.6
50.5
49.5
51.9
52.5
63.3
.3
71.3
.3
64.9
.3
61.6
.2
64.5
62.7
.2
62.4
61.7
59.4
.2
58.5
60.9
61.4
.2
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11
securities
12 Mortgage-backed
Securitized consumer
loans12
13
Credit cards and related plans
14
Other
Foreign-related institutions
15 Revaluation gains on off-balancesheet items9
16 Revaluation losses on off-balancesheet items9
17 Securitized business loans12
NOTE. Tables 1.26, 1.27, and 1.28 have been revised to reflect changes in the Board's H.8
statistical release, "Assets and Liabilities of Commercial Banks in the United States," which
is available at www.federalreserve.gov/releases. Table 1.27, "Assets and Liabilities of Large
Weekly Reporting Commercial Banks," and table 1.28, "Large Weekly Reporting U.S.
Branches and Agencies of Foreign Banks," are no longer being published in the Statistical
Supplement. Instead, abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data are both mergeradjusted and break-adjusted. In addition, data from large weekly reporting U.S. branches and
agencies of foreign banks have been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are break adjusted.
1. Covers the following types of institutions in the fifty states and the District of Columbia:
domestically chartered commercial banks that submit a weekly report of condition (large
domestic); other domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and Agreement corporations (foreign-related
institutions). Excludes international banking facilities. Data are Wednesday values or pro rata
averages of Wednesday values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on weekly samples and on
quarter-end condition reports. Data are adjusted for breaks caused by reelassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. 17-19 are adjusted to remove
the estimated effects of mergers between these two groups. The adjustment for mergers
changes past levels to make them comparable with current levels. Estimated quantities of
balance sheet items acquired in mergers are removed from past data for the bank group that
contained the acquired bank and put into past data for the group containing the acquiring
bank. Balance sheet data for acquired banks are obtained from Call Reports, and a ratio
procedure is used to adjust past levels.
2
2
2
2
2
2. Treasury securities are liabilities of the U.S. Treasury. Agency securities are liabilities of
U.S. government agencies and U.S. government-sponsored enterprises.
3. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks
in the United States, all of which are included in "Interbank loans."
4. Consists of reverse RPs with brokers and dealers and loans to purchase and carry
securities.
5. Includes vault cash, cash items in process of collection, balances due from depository
institutions, and balances due from Federal Reserve Banks.
6. Excludes the due-from position with related foreign offices, which is included in "Net
due to related foreign offices."
7. Excludes unearned income, reserves for losses on loans and leases, and reserves for
transfer risk. Loans are reported gross of these items.
8. This balancing item is not intended as a measure of equity capital for use in capital
adequacy analysis. On a seasonally adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total liabilities.
9. Fair value of derivative contracts (interest rate, foreign exchange rate, other commodity
and equity contracts) in a gain/loss position, as determined under FASB Interpretation No. 39.
The fair market value of derivative contracts in a gain position is included in "Other
securities, trading account." The fair value of derivative contracts in a loss position is
included in "Other liabilities."
10. Includes mortgage-backed securities issued by U.S. government agencies, U.S.
government-sponsored enterprises, and private entities.
11. Difference between fair value and historical cost for securities classified as availablefor-sale under FASB Statement No. 115. Data are reported net of tax effects. Data shown are
restated to include an estimate of these tax effects.
12. Total amount outstanding.
22
1.32
Federal Reserve Bulletin Statistical Supplement • June 2005
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2004
2005
Item
2000
2001
2002
2003
2004
Sept.
Oct.
Nov.
Dec.
1 All issuers
1,619,274
1,458,870
1,347,997
1,265,351
1,387,807
1,343,165
1,379,694
1,375,074
2 Financial companies'
3 Nonfinancial companies2
1,275,841
343,433
1,234,023
224,847
1,193,950
154,047
1,160,317
105,034
1,268,158
119,649
1,218,050
125,115
1,237,213
142,481
1,244,571
130,503
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
Jan.
Feb.
1,387,807
1,411,471
1,440,644
1,268,158
119,649
1,274,507
136,964
1,300,161
140,483
2. Includes public utilities and firms engaged primarily in such activities as communications, construction, manufacturing, mining, wholesale and retail trade, transportation, and
services.
Short-Term Business Loans1
Percent per year
Date of change
2001—Jan.
Feb
Mar.
Apr
May
June
Aug.
Sept.
Oct.
Nov.
Dec.
Rate
4
1
21
19
16
28
22
18
3
7
12
9.00
8 50
8.00
7 50
7.00
6 75
6.50
6.00
5.50
5.00
4.75
2002—Nov. 7
4.25
2003—June 27
4.00
2004—June
Aug.
Sept.
Nov.
Dec.
30
10
21
10
14
4.25
4.50
4.75
5.00
5.25
2005—Feb. 2
Mar. 22
5.50
5.75
Period
2001
2002
2003
2004
2002
Average
rate
6.91
4.67
4.12
4.34
Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.75
4.35
4.25
1. The prime rate is one of several base rates that banks use to price short-term business
loans. The table shows the date on which a new rate came to be the predominant one quoted
by a majority of the twenty-five largest banks by asset size, based on the most recent Call
Period
2003—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
4.25
4.25
4.25
4.25
4.25
4.22
4.00
4.00
4.00
4.00
4.00
4.00
Period
Average
rate
2004—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.00
4.00
4.00
4.00
4.00
4.01
4.25
4.43
4.58
4.75
4.93
5.15
2005—Jan
Feb
Mar
Apr
5.25
5.49
5.58
5.75
Report. Data in this table also appear in the Board's H.I 5 (519) weekly statistical release,
available on the Board's website, www.federalreserve.gov/releases.
Financial Markets
1.35
INTEREST RATES
23
Money and Capital Markets
Percent per year; figures are averages of business day data unless otherwise noted
2004
Item
2002
2003
2005
2005, week ending
2004
Dec.
Jan.
Feb.
Mar.
Feb. 25
Mar. 4
Mar. 11
Mar. 18
Mar. 25
MONEY MARKET INSTRUMENTS
1 Federal funds1-13
2 Discount window primary credit2-4
1.67
n.a.
1.13
n.a.
1.35
2.34
2.16
3.15
2.28
3.25
2.50
3.49
2.63
3.58
2.52
3.50
2.51
3.50
2.50
3.50
2.55
3.50
2.71
3.57
paper3'5'6
Commercial
3
4
5
Nonfinancial
1-month
2-month
3-month
1.67
1.67
1.69
1.11
1.11
1.11
1.38
1.40
1.41
2.22
2.26
2.34
2.33
2.40
2.53
2.49
2.56
n.a.
2.67
2.74
2.82
2.50
2.62
n.a.
2.58
2.67
2.75
2.61
2.71
2.81
2.68
2.75
n.a.
2.74
2.79
2.90
6
7
8
Financial
1-month
2-month
3-month
1.68
1.69
1.70
1.12
1.13
1.13
1.41
1.46
1.52
2.26
2.32
2.38
2.37
2.46
2.56
2.52
2.61
2.71
2.71
2.81
2.91
2.53
2.66
2.74
2.60
2.72
2.82
2.67
2.76
2.87
2.73
2.82
2.93
2.76
2.86
2.97
Certificates of deposit, secondary market3-1
1-month
3-month
6-month
1.72
1.73
1.81
1.15
1.15
1.17
1.45
1.57
1.74
2.34
2.45
2.66
2.44
2.61
2.85
2.57
2.77
3.00
2.77
2.97
3.23
2.60
2.83
3.08
2.68
2.89
3.14
2.74
2.93
3.17
2.80
2.99
3.24
2.81
3.02
3.30
12 Eurodollar deposits, 3-month3>s
1.73
1.14
1.55
2.43
2.60
2.75
2.95
2.82
2.87
2.91
2.97
3.00
US Treasury bills
Secondary market3-5
13
4-week
14
3-month
15
6-month
1.60
1.61
1.68
1.00
1.01
1.05
1.24
1.37
1.58
1.92
2.19
2.43
1.99
2.33
2.61
2.32
2.54
2.77
2.60
2.74
3.00
2.43
2.65
2.86
2.49
2.70
2.92
2.55
2.70
2.95
2.63
2.74
3.01
2.68
2.80
3.06
2.00
2.64
3.10
3.82
4.30
4.61
5.43
1.24
1.65
2.10
2.97
3.52
4.01
4.96
1.89
2.38
2.78
3.43
3.87
4.27
5.04
2.67
3.01
3.21
3.60
3.93
4.23
4.88
2.86
3.22
3.39
3.71
3.97
4.22
4.77
3.03
3.38
3.54
3.77
3.97
4.17
4.61
3.30
3.73
3.91
4.17
4.33
4.50
4.89
3.13
3.50
3.65
3.89
4.09
4.28
4.74
3.20
3.58
3.75
4.00
4.18
4.37
4.79
3.24
3.66
3.85
4.11
4.28
4.45
4.84
3.31
3.73
3.93
4.18
4.35
4.51
4.91
3.38
3.83
4.03
4.27
4.42
4.59
4.98
4.87
5.64
5.04
4.52
5.20
4.75
4.50
5.09
4.68
4.35
4.91
4.48
4.24
4.80
4.41
4.16
4.71
4.35
4.29
4.87
4.57
4.33
4.76
4.42
4.22
4.80
4.50
4.34
4.90
4.57
4.21
4.77
4.56
4.37
4.93
4.63
7.10
6.24
6.00
5.78
5.66
5.49
5.71
5.59
5.64
5.66
5.72
5.80
6.49
6.93
7.18
7.80
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
5.47
5.69
5.82
6.15
5.36
5.58
5.68
6.02
5.20
5.44
5.51
5.82
5.40
5.65
5.73
6.06
5.30
5.54
5.62
5.91
5.34
5.59
5.66
5.95
5.35
5.61
5.69
5.97
5.40
5.67
5.75
6.05
5.48
5.73
5.81
6.17
1.61
1.72
1.66
1.75
1.80
1.80
1.80
1.79
1.80
1.80
1.80
1.80
9
10
11
U.S. TREASURY NOTES AND BONDS
16
17
18
19
20
21
22
Constant maturities''
1 -year
2-year
3-year
5-year
7-year
10-year
20-year
STATE AND LOCAL NOTES AND BONDS
Moody's series10
23 Aaa
24 Baa
25 Bond Buyer series"
CORPORATE BONDS
26 Seasoned issues, all industries12
27
28
29
30
Rating group
Aaa13
Aa
A
Baa
MEMO
Dividend-price ratio14
31 Common stocks
NOTE. Some of the data in this table also appear in the Board's H.I 5 (519) weekly
statistical release, available at www.federalreserve.gov/releases.
1. The daily effective federal funds rate is a weighted average of rates on trades through
New York brokers.
2. Weekly figures are averages of seven calendar days, ending on Wednesday of the
current week; monthly figures include each calendar day in the month.
3. Annualized using a 360-day year or bank interest.
4. The rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program, which became effective January 9, 2003.
This rate replaces that for adjustment credit, which was discontinued after January 8, 2003.
For further information, see www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/
default.htm. The rate reported is that for the Federal Reserve Bank of New York. Historical
series for the rate on adjustment credit is available at www.federalreserve.gov/releases/hl5/
data.htm.
5. Quoted on a discount basis.
6. Interest rates interpolated from data on certain commercial paper trades settled by the
Depository Trust Company. The trades represent sales of commercial paper by dealers or
direct issuers to investors (that is, the offer side). See the Board's Commercial Paper
webpages (www.federalreserve.gov/releases/cp) for more information.
7. An average of dealer offering rates on nationally traded certificates of deposit.
8. Bid rates for Eurodollar deposits collected around 9:30 a.m. Eastern time. Data are for
indication purposes only.
9. Yields on actively traded issues adjusted to constant maturities.
10. General obligation bonds based on Thursday figures; Moody's Investors Service.
11. State and local government general obligation bonds maturing in twenty years are used
in compiling this index. The twenty-bond index has a rating roughly equivalent to Moody's
Al rating. Based on Thursday figures.
12. Daily figures are averages of Aaa, Aa, A, and Baa yields from Moody's Investors
Service. Based on yields to maturity on selected long-term bonds.
13. Effective December 7, 2001, the Moody's Aaa yield includes yields only for industrial
firms. Prior to December 7, 2001, the Aaa yield represented both utilities and industrial.
14. Standard & Poor's corporate series. Common stock ratio is based on the 500 stocks in
the price index.
SOURCE: U.S. Department of the Treasury.
24
Federal Reserve Bulletin Statistical Supplement • June 2005
1.36
STOCK MARKET
Selected Statistics
2004
Indicator
2002
2003
2005
2004
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
Pr ces and trac ng volume (averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31.1965 = 50)
5.571.46
656.44
430.63
260.50
554.88
5.456.48
634.11
437.37
238.05
566.74
6,614.10
n.a.
n.a.
n.a.
n.a.
6.352.83
n.a.
n.a.
n.a.
n.a.
6.551.90
n.a.
n.a.
n.a.
n.a.
6.608.98
n.a.
n.a.
n.a.
n.a.
6.933.75
n.a.
n.a.
n.a.
n.a.
7.134.42
n.a.
n.a.
n.a.
n.a.
7.056.84
n.a.
n.a.
n.a.
n.a.
7.241.89
n.a.
n.a.
n.a.
n.a.
7.275.51
n.a.
n.a.
n.a.
n.a.
7,077.97
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
993.94
965.23
1,130.65
1,088.94
1,117.66
1,118.07
1,168.94
1,199.21
1,181.41
1,199.63
1,194.90
1,164.42
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
860.11
943.44
1,260.02
1,222.33
1,251.26
1,291.67
1,353.08
1,410.28
1,406.85
1,483.76
1,483.97
1,453.79
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
9 American Stock Exchange
1 411 689 1 361 043 1 403 376 1 202 885 1 253 362 1 477 745 1 422 498 1 397 797 1 569 946 1 549 991 1 600 618 1 643 376
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-dealers
Free credit balances at brokers4
11 Margin accounts5
3
134,380
173,220
203,790
177,100
180,100
185,700
196,990
203,790
203,320
199,480
201,690
194,160
95,690
73,340
92.560
84,920
117.850
93,580
114.330
80,280
110.720
83,400
110.870
81,610
110.960
85,740
117.850
93,580
115.350
87,260
94.330
77,960
100.200
80,200
97.450
74,720
Margin requirements (percent of market value and effective date)6
14 Convertible bonds
Mar. 11, 1968
June 8, 1968
May 6, 1970
Dec. 6. 1971
Nov. 24. 1972
Jan. 3. 1974
70
50
70
80
60
80
65
50
65
55
50
55
65
50
65
50
50
50
1. In July 1976 a financial group made up of banks and insurance companies was added to
the group of stocks on which the index is based. The index is now based on 400 industrial
stocks (formerly 425), 20 transportation (formerly 15 rail), 40 public utility (formerly 60), and
40 financial.
2. On July 5, 1983, the American Stock Exchange rebased its index, effectively cutting
previous readings in half.
3. Since July 1983, under the revised Regulation T, margin credit at broker-dealers has
included credit extended against stocks, convertible bonds, stocks acquired through the
exercise of subscription rights, corporate bonds, and government securities. Separate reporting of data for margin stocks, convertible bonds, and subscription issues was discontinued in
April 1984.
4. Free credit balances are amounts in accounts with no unfulfilled commitments to
brokers and are subject to withdrawal by customers on demand.
5. Series initiated in June 1984.
6. Margin requirements, stated in regulations adopted by the Board of Governors pursuant
to the Securities Exchange Act of 1934, limit the amount of credit that can be used to
purchase and carry "margin securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are the difference between the
market value (100 percent) and the maximum loan value of collateral as prescribed by the
Board. Regulation T was adopted effective Oct. 15, 1934; Regulation U, effective May 1,
1936; Regulation G, effective Mar. 11, 1968; and Regulation X, effective Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established in Regulation T the
initial margin required for writing options on securities, setting it at 30 percent of the current
market value of the stock underlying the option. On Sept. 30, 1985, the Board changed the
required initial margin, allowing it to be the same as the option maintenance margin required
by the appropriate exchange or self-regulatory organization; such maintenance margin rules
must be approved by the Securities and Exchange Commission.
Federal Finance
1.40
25
FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2003
Sept. 30
1 Federal debt outstanding
....
2 Public debt securities
3
Held by public
4
Held by agencies
5 Agency securities
6
Held by public
7
Held by agencies
Sept. 30
6,487.7
6,697.1
6,810.3
7,023.4
7,156.2
7,298.6
7,403.2
7,620.4
7,801.0'
6,460.8
3.710.8
2,750.0
6,670.1
3,816.3
2,853.8
6,783.2
3,923.9
2,859.3
6,998.0
4,044.1
2,954.5
7,131.1
4,176.7
2,954.4
7,274.3
4,218.7
3,055.6
7,379.0
4,303.4
3,075.7
7,596.1
4,407.1
3,189.1
7,776.9'
4,572.4'
3,204.5'
26.9
26.9
.0
27.0
27.0
.0
27.0
27.0
.0
25.4
24.9
.5
25.1
25.1
.0
24.2
24.2
.0
24.2
23.7
.4
24.3
23.9
.4
24.1'
24.1'
7,229.3
7,333.4
7,535.6
7,715.5'
6,399.8
.2
6,625.3
.2
6,737.3
.3
6,952.6
.3
7,088.5
.1
6,400.0
7,384.0
7,384.0
7,384.0
7,384.0
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
7,229.2
.1
7,715.4'
MEMO
11 Statutory debt limit
1. Consists of guaranteed debt of U.S. Treasury and other federal agencies, specified
participation certificates, notes to international lending organizations, and District of Columbia stadium bonds.
1.41
GROSS PUBLIC DEBT OF U.S. TREASURY
SOURCE. U.S. Department of the Treasury, Monthly Statement of the Public Debt of the
United States and Monthly Treasury Statement.
Types and Ownership
Billions of dollars, end of period
Type and holder
1 Total gross public debt
2
3
4
5
6
7
8
9
10
11
12
13
14
15
By type
Interest-bearing
Marketable
Bills
Notes
Bonds
Inflation-indexed notes and bonds'
Nonmarketable2
State and local government series .
Foreign issues3
Government
Public
Savings bonds and notes
Government account series4
Non-interest-bearing
By holder^
16 U.S. Treasury and other federal agencies and trust funds
17 Federal Reserve Banks8
18 Private investors
19
Depository institutions
20
Mutual funds
21
Insurance companies
22
State and local treasuries7
Individuals
23
Savings bonds
24 Pension funds
25
Private
26
State and Local
27
Foreign and international5
28
Other miscellaneous investors7'9
Q2
Q3
Q4
Ql
5,943.4
6,405.7
6,998.0
7,596.1
5,930.8
2,982.9
811.3
1,413.9
602.7
140.1
2,947.9
146.3
15.4
15.4
181.5
2,574.8
12.7
6,391.4
3,205.1
888.8
1,580.8
588.7
146.9
3,186.3
153.4
11.2
11.2
.0
184.8
2,806.9
14.3
6,982.0
3,575.1
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
7,578.5
3,959.7
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
7,259.1
3,755.4
946.8
2,052.2
556.0
200.4
3,503.7
161.5
6.4
6.4
.0
194.1
3,111.7
15.3
7,364.2
3,846.0
961.5
2,109.5
552.0
223.0
3,518.2
158.2
5.9
5.9
.0
194.1
3,130.0
14.9
7,578.5
3,959.7
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
7,759.9
4,103.7
1,059.1
2,226.6
537.2
266.8
3,656.2
179.0
6.1
6.1
.0
192.2
3,248.9
17.0
2,564.3'
551.7
2,819.5
181.5
257.5
105.7
339.4
2 757.8
629.4
3,018.5
222.8
278.8
139.7
351.5
2,955.1
666.7
3,377.9
154.0
279.6
136.5
358.8
3,189.1
717.8
3,667.1
127.8
254.3
147.6
382.1
3,055.6
687.4
3,531.5
161.6
258.8
143.6
374.7
3,075.7
700.3
3,607.0
141.0
254.5
146.6
374.3
3,189.1
717.8
3,667.1
127.8
254.3
147.6
382.1
3,212.3
717.3
3,855.4
142.7
261.9
151.5
407.0
190.3
273.1
120.6
152.4
1,051.2
420.9'
194.9
278.8
134.7
144.1
1,246.8
323.4
203.8
288.2
140.8
147.4
1,538.1
452.6
204.4
299.0
152.3
146.7
1,942.0
n.a.
204.6
299.4
146.0
153.4
1,828.3
251.7
204.1
298.1
150.4
147.7
1,886.2
276.2
204.4
299.0
152.3
146.7
1,942.0
n.a.
204.2
298.4
153.4
145.0
2,037.0
n.a.
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 • June 2005
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2004
Item
By type of security
1 U.S. Treasury bills
Treasury coupon securities by maturity
2 Three years or less
3
More than three but less than or
equal to six years
4
More than six but less than or equal
to eleven years
5
More than eleven
6
Inflation-protected2
7
8
9
10
11
12
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
More than six years but less than
or equal to eleven years . . . .
More than eleven years
Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
15
16
17
18
19
20
21
22
By type of counterparty
With interdealer broker
U.S. Treasury
Federal agency and governmentsponsored enterprises
Mortgage-backed
Corporate
With other
U.S. Treasury
Federal agency and governmentsponsored enterprises
Mortgage-backed
Corporate
Dec.
2005
Jan.
2005, week end
Feb.
Feb. 2
Feb. 9
Feb. 16
Feb. 23
Mar. 2
Mar. 9
Mar. 16
Mar. 23
Mar. 30
54,098
53,882
52,774
51,602
50,392
50,689
54,967
58,076
57,825
58,495
66,266
64,572
147,780
179,412
203,113
191,569
200,292
185,602
206,371
240,349
194,534
215,862
157,483
168,884
129,830
143,456
149,040
123,019
150,125
158,580
143,558
155,991
172,610
180,411
131,871
103,675
104,716
25,191
5,168
108,399
30,726
10,962
145,431
37,033
9,870
119,514
32,551
13,552
138,164
44,483
9,579
164,351
35,970
8,871
141,452
36,179
9,334
148,595
30,512
10,278
150,153
37,633
8,033
150,686
38,712
7,455
122,591
31,410
8,889
93,128
22,760
5,684
58,623
58,929
61,582
59,950
61,807
65,547
56,078
63,027
49,878
57,735
53,945
63,782
5,565
9,848
8,834
11,593
6,022
8,665
10,320
9,982
11,177
9,625
7,117
8,158
6,654
8,758
7,476
6,768
4,880
7,336
10,381
8,635
5,941
10,116
3,163
4,948
3,761
600
4,915
435
5,031
655
4,228
542
5,590
576
4,572
620
4,856
734
5,635
813
4,588
450
3,721
326
2,007
204
5,916
368
198,011
260,457
249,936
241,467
382,979
195,949
174,576
224,301
381,231
266,131
223,734
216,728
149,183
19,700
143,522
23,435
146,403
21,767
141,425
24,226
149,717
21,032
141,937
22,155
151,100
18,757
145,381
24,720
136,219
28,253
157,306
22,518
182,368
22,715
167,936
21,075
210,185
237,509
267,602
239,907
272,259
273,077
259,968
279,358
271,342
284,456
228,721
190,538
6,861
54,134
638
8,668
67,620
763
8,500
66,187
709
8,545
57,901
907
8,756
97,447
626
8,078
62,098
759
7,482
42,944
652
10,102
57,417
708
8,305
91,440
705
8,070
75,866
732
4,326
61,223
591
6,630
64,633
603
256,597
289,329
329,658
291,900
320,776
330,986
331,891
364,443
349,446
367,166
289,789
268,165
68,342
143,877
168,246
74,218
192,837
166,193
75,078
183,749
167,461
74,536
183,565
164,744
70,119
285,532
170,123
78,662
133,851
163,332
74,886
131,633
169,204
77,990
166,884
169,393
63,729
289,790
163,767
73,453
190,265
179,092
62,111
162,511
204,492
76,542
152,095
188,408
NOTE. Major changes in the report form filed by primary dealers induced a break in the
dealer data series as of the week ending July 4, 2001. Current weekly data may be found at the
Federal Reserve Bank of New York website (www.ny.frb.org/markets/primarydealers.html)
under the Primary Dealer heading.
1. The figures represent purchases and sales in the market by the primary U.S. government
securities dealers reporting to the Federal Reserve Bank of New York. Outright transactions
include all U.S. government, federal agency, government-sponsored enterprise, mortgage-
backed, and corporate securities scheduled for immediate and forward delivery, as well as all
U.S. government securities traded on a when-issued basis between the announcement and
issue date. Data do not include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the week.
2. Outright Treasury inflation-protected securities (TIPS) transactions are reported at
principal value, excluding accrued interest, where principal value reflects the original issuance par amount (unadjusted for inflation) times the price times the index ratio.
Federal Finance
1.43
U.S. GOVERNMENT SECURITIES DEALERS
27
Positions and Financing
Millions of dollars
2005, week ending
2005
2004
Item, by type of security
Dec.
Jan.
Feb.
Feb. 2
Feb. 9
Feb. 16
Feb. 23
Mar. 2
Mar. 9
Mar. 16
Mar. 23
Net outright posit ons2
1 U.S. Treasury bills
Treasury coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
4
More than six but less than
or equal to eleven years
5
More than eleven
6
Inflation-protected
2
3
7
8
9
10
11
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities, by maturity
Three years or less
More than three years but less than
or equal to six years
More than six but less than
or equal to eleven years
More than eleven
12 Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
24,380
5,443
23,229
6,076
14,638
13,237
31,978
43,858
48,547
49,038
39,762
-42,155
-44,751
-55,827
-49,360
-52,413
-57,345
-60,009
-55,214
-66,049
-62,464
-66,014
-49,425
-43,954
-49,862
-42,499
-44,433
-49,362
-54,934
-54,009
-44,608
-47,463
-48,406
-14,165
-11,653
-321
-18,881
-11,807
832
-16,295
-12,257
-245
-20,602
-13,543
818
-18,164
-12,174
-611
-11,272
-12,714
497
-16,731
-11,011
-455
-18,376
-12,965
-905
-25,195
-12,509
-653
-29,938
-15,710
-1,331
-31,422
-12,917
-1,946
50,345
51,492
51,004
51,700
48,688
51,506
50,484
53,995
59,932
56,167
49,231
21,313
17,104
19,922
19,135
18,912
19,846
20,717
20,646
25,339
24,731
22,399
9,115
11,094
9,885
12,536
11,672
10,160
9,613
6,321
7,532
11,801
11,428
1,738
3,495
2,271
3,313
1,952
3,291
3,267
2,836
3,627
3,232
1,282
3,266
743
3,382
1,709
3,463
1,005
3,398
175
3,538
-5
3,588
29,702
12,448
26,813
15,162
24,125
22,632
31,768
34,153
26,413
29,409
24,827
35,890
115,503
31,342
109,436
30,253
110,397
36,617
114,395
32,921
110,316
28,107
109,430
30,176
107,902
27,082
113,758
26,296
116,329
36,230
117,968
33,770
126,544
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
1 063 604
1,232,744
1 104 595
1,024,165
1 105 330
1,125,747
1 143 610
1,048,081
1 095 263
1,171,989
1 149 267
1,090,303
1 085175
1,147,568
1,070,815
1,111,148
1,077,951
1,205,026
1,095,948
1,233,178
1,104,240
1,293,358
166,623
218,874
178,624
199,542
175,629
199,585
193,090
187,353
168,941
201,378
175,289
199,719
169,923
197,891
186,473
204,152
176,670
211,524
181,379
210,005
176,548
208,355
58,518
377,053
54,562
365,405
61,807
377,223
59,033
371,109
64,229
377,423
57,611
376,319
65,566
379,824
60,138
377,014
62,108
379,219
71,794
372,610
72,876
372,184
111,086
59,994
112,388
64,589
111,952
63,870
113,564
63,420
114,919
63,419
111,219
62,873
109,621
64,614
111,445
65,034
112,873
65,213
112,288
64,630
109,939
65,516
687,473
1 654 584
694,580
1 413 250
730,440
1 501 677
752,706
1 425 968
703,892
1 550 891
764,711
1 470 293
721,754
1 521 070
722,879
1,479,846
704,518
1,581,897
763,638
1,607,108
744,684
1,690,600
965,551
1,152,714
989,138
918,214
1,021,186
985,288
1,064,194
905,370
1,002,575
1,028,448
1,073,386
945,566
995,467
1,010,249
992,967
977,495
991,848
1,068,479
989,875
1,108,024
979,876
1,194,222
296,069
155,732
301,742
138,155
310,101
132,043
312,846
127,823
309,041
134,882
308,309
132,437
303,696
127,849
321,965
135,075
328,508
142,406
311,854
148,712
302,711
142,582
451,632
242,723
453,470
237,830
456,323
246,544
461,396
235,644
447,777
246,622
461,742
247,375
467,948
246,595
442,396
249,562
436,220
256,014
465,344
252,514
469,710
247,532
198,168
45,417
196,691
51,066
199,001
45,382
204,433
47,137
204,704
47,183
196,819
44,386
198,146
44,226
193,098
45,174
194,114
46,047
206,461
44,617
201,631
44,979
1,652,764
1,520,691
1,682,474
1,271,973
1,732,904
1,337,200
1,780,036
1,244,372
1,706,606
1,380,171
1,786,539
1,301,646
1,713,118
1,357,464
1,703,480
1,335,576
1,699,986
1,436,094
1,739,209
1,481,449
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.
1 723 547
1,555,159
2. Net outright positions include all U.S. government, federal agency, governmentsponsored enterprise, mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as U.S. government securities traded on a when-issued basis
between the announcement and issue date.
3. Figures cover financing U.S. government, federal agency, government-sponsored enterprise, mortgage-backed, and corporate securities. Financing transactions for Treasury
inflation-protected securities (TIPS) are reported in actual funds paid or received, except for
pledged securities. TIPS that are issued as pledged securities are reported at par value, which
is the value of the security at original issuance (unadjusted for inflation).
28
1.44
Federal Reserve Bulletin Statistical Supplement • June 2005
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Agency
Sept.
1 Federal and federally sponsored agencies
2 Federal agencies
3
Defense Department1
4
Export-Import Bank2-3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service1"
8
Tennessee Valley Authority
9
United States Railway Association1"
10 Federally sponsored agencies7
11
Federal Home Loan Banks
12 Federal Home Loan Mortgage Corporation . .
13 Federal National Mortgage Association
14 Farm Credit Bankss
15
Student Loan Marketing Association9
16 Financing Corporation10
17
Farm Credit Financial Assistance Corporation''
18
Resolution Funding Corporation12
2,121,057
276
6
2,351,039
6
n.a.
26,828
n.a.
25.412
6
n.a.
n.a.
n.a.
>,120,781
623,740
565,071
763,500
76,673
48,350
8,170
1,261
29,996
2,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
24,267
6
n.a.
207
n.a.
24,189
6
24,128
6
n.a.
203
24,267
6
n.a.
207
n.a.
n.a.
n.a.
24,261
n.a.
1,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
n.a.
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
30,811
27,948
28,354
27,948
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.
16,961
11,393
16,961
n.a.
10,987
24,183
836,725
756,900
961,434
95,714
65,439
8,170
1,261
29,996
n.a.
n.a.
24,122
n.a.
n.a.
24,170
6
n.a.
833,135
747,600
962,793
95,250
75,464
8,170
1,261
29,996
24,164
837,220
740,300
961,527
95,639
76,543
8,170
1,261
29,996
n.a.
n.a.
24,261
n.a.
n.a.
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
8,170
1,261
29,996
MEMO
19 Federal Financing Bank debt"
20
21
22
23
24
39,096
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service1"
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association1"
Other lending*4
25 Farmers Home Administration . . . .
26 Rural Electrification Administration
27 Other
n.a.
n.a.
n.a.
n.a.
n.a.
13,876
25,220
n.a.
14,489
22,528
1. Consists of mortgages assumed by the Defense Department between 1957 and 1963
under family housing and homeowners' assistance programs.
2. Includes participation certificates reclassified as debt beginning Oct. 1, 1976.
3. On-budget since Sept. 30, 1976.
4. Consists of debentures issued in payment of Federal Housing Administration insurance
claims. Once issued, these securities may be sold privately on the securities market.
5. Certificates of participation issued before fiscal year 1969 by the Government National
Mortgage Association acting as trustee for the Farmers Home Administration; the Department
of Health, Education, and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
6. Off-budget.
7. Includes outstanding noncontingent liabilities: notes, bonds, and debentures. Includes
Federal Agriculture Mortgage Corporation; therefore, details do not sum to total. Some data
are estimated.
8. Excludes borrowing by the Farm Credit Financial Assistance Corporation, which is
shown on line 17.
9. Before late 1982, the association obtained financing through the Federal Financing Bank
(FFB). Borrowing excludes that obtained from the FFB, which is shown on line 22.
16,127
14,684
16,961
n.a.
10,987
16,985
12,271
10. The Financing Corporation, established in August 1987 to recapitalize the Federal
Savings and Loan Insurance Corporation, undertook its first borrowing in October 1987.
11. The Farm Credit Financial Assistance Corporation, established in January 1988 to
provide assistance to the Farm Credit System, undertook its first borrowing in July 1988.
12. The Resolution Funding Corporation, established by the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989, undertook its first borrowing in October
1989.
13. The FFB, which began operations in 1974, is authorized to purchase or sell obligations
issued, sold, or guaranteed by other federal agencies. Because FFB incurs debt solely for the
purpose of lending to other agencies, its debt is not included in the main portion of the table to
avoid double counting.
14. Includes FFB purchases of agency assets and guaranteed loans; the latter are loans
guaranteed by numerous agencies, with the amounts guaranteed by any one agency generally
being small. The Farmers Home Administration entry consists exclusively of agency assets,
whereas the Rural Electrification Administration entry consists of both agency assets and
guaranteed loans.
Securities Markets and Corporate Finance
1.45
NEW SECURITY ISSUES
29
State and Local Governments
Millions of dollars
Type of issue or issuer,
or use
Sept.
1 All issues, new and refunding1
363,888
384,311
357,226
27,895
24,907
31,965
24,778'
32,807
22,538
30,948
44,716
By type of issue
2 General obligation
3 Revenue
145,323
214,788
144,056
238,204
130,341
226,885
11,542
16,353
10,253
14,654
11,855'
20,110'
7,118'
17,661
12,825
19,981
9,791
12,747
14,028
16,920
19,737
24,979
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township
33,931
259,070
67,121
49,795
253,536
78,962
47,329
233,649
76,248
1,694
19,224
6,977
3,396
15,917
5,594
4,477
22,521
4,966
912
16,790'
7,075'
3,724
22,435
6,647
2,268
16,277
3,992
1,786
22,572
6,590
5,468
31,857
7,391
7 Issues for new capital
242,882
264,697
227,853
17,782
13,313
20,297'
14,805'
23,069
12,016
15,790
21,743
57,894
22,093
33,404
n.a.
7,227
73,033
70,394
23,809
10,251
n.a.
22,339
97,736
65,333
20,546
8,259
n.a.
19,503
81,149
5,143
2,946
1,154
n.a.
1,340
4,998
3,886
1,411
242
n.a.
2,238
3,764
4,632'
1,550
685
n.a.
2,013
8,817'
3,572
1,325
664
n.a.
2,907
3,509'
7,530
1,895
1,641
n.a.
859
6,889
3,998
1,299
447
n.a.
559
2,838
5,028
1,981
438
n.a.
607
4,223
7,526
2,892
1,345
n.a.
2,550
4,921
8
9
10
11
12
13
By use of proceeds
Education
Transportation
Utilities and conservation
Social welfare
Industrial aid
Other purposes
SOURCE. Securities Data Company beginning January 1990; Investment Dealer's Digest
before then.
1. Par amounts of long-term issues based on date of sale.
2. Includes school districts.
1.46
NEW SECURITY ISSUES
U.S. Corporations
Millions of dollars
2004
Type of issue, offering,
or issuer
1
1 All issues
By type of offering
3 Sold in the United States
2002
2003
2005
2004
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
1,432,548
1,819,401
2,067,697
158,714
174,460
214,381
158,646
196,768
167,487
183,455
158,779
1,322,113
1,692,260
1,923,094
149,980
166,054
204,705
146,254
188,189
155,071
177,157
146,154
1,235,868
86 246
1,579,311
112 949
1,737,342
185 752
138,152
11 828
152,816
13 239
179,758
24 948
133,354
12 900
166,052
22 137
142,165
12 906
159,207
17 950
125,762
20 392
18,870
20,701
22,328
3,242
1,969
2,146
2,070
1,743
893
n.a.
n.a.
282,484
1,039,629
362,340
1,329,920
259,968
1,663,127
11,666
138,314
21,961
144,094
23,136
181,570
17,591
128,663
32,724
155,465
21,858
133,213
15,981
161,176
16,837
129,317
170,904
185,964
144,603
8,734
8,406
9,676
12,392
8,579
12,416
6,298
12,625
110,435
60,469
127,141
58,823
144,603
n.a.
8,734
n.a.
8,406
n.a.
9,676
n.a.
12,392
n.a.
8,579
n.a.
12,416
n.a.
6,298
n.a.
12,625
n.a.
62,115
48,320
44,389
82,752
64,162
80,441
5,524
3,210
5,099
3,307
3,423
6,253
4,209
8,183
4,757
3,822
6,676
5,740
2,071
4,227
7,964
4,661
MEMO
5 Private placements, domestic
By industry group
7 Financial
8 Stocks3
By type of offering
9 Public
10 Private placement4
By industry group
11 Nonfinancial
1. Figures represent gross proceeds of issues maturing in more than one year; they are the
principal amount or number of units calculated by multiplying by the offering price. Figures
exclude secondary offerings, employee stock plans, investment companies other than closedend, intracorporate transactions, Yankee bonds, and private placements listed. Stock data
include ownership securities issued by limited partnerships.
2. Monthly data include 144(a) offerings.
3. Monthly data cover only public offerings.
4. Data for private placements are not available at a monthly frequency.
SOURCE. Securities Data Company and the Board of Governors of the Federal Reserve
System.
30
Federal Reserve Bulletin Statistical Supplement • June 2005
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2004
Item
2003
2005
2004'
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.'
Mar.
Apr.
1 Sales of own shares2
1,710,931
1,660,546
117,130
119,589
144,989
162,418
161,730
149,629
165,785
147,465
2 Redemptions of own shares
1,495,077
215,854
1,450,420
210,126
101,115
16,015
105,371
14,218
117,437
27,552
149,425
12,993
141,844
19,886
120,461
29,168
148,026
17,759
134,906
12,559
5,362,397
6,193,664
5,659,364
5,759,166
6,003,264
6,193,664
6,107,862
6,251,261
6,169,231
6,076,257
258,594
5,103,803
304,816
5,888,848
289,286
5,370,078
301,153
5,458,013
328,693
5,674,571
304,816
5,888,848
317,491
5,790,371
354,861
5,896,400
328,885
5,840,346
315,357
5,760,900
4 Assets
4
5 Cash5
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51 DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE. Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2004
2003
2005
Q3
Q4
Q1
Q2
Q3
Q4'
Q1
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
951.2
321.4
455.3
174.5
1,022.2
365.8
457.4
198.9
1,144.0
429.2
471.9
243.0
1,000.0
359.7
445.6
194.7
1,022.2
365.8
457.4
198.9
1,056.2
374.4
475.6
206.2
1,075.4
390.1
471.3
213.9
1,097.3
416.5
456.3
224.5
1,144.0
429.2
471.9
243.0
1,149.2
424.2
480.4
244.6
57.0
23 8
50.8
24 6
46.2
24 8
52.0
24 5
50.8
24 6
49.6
24 1
47.3
24 0
46.5
24 1
46.2
24 8
46.0
23 7
870.3
586.4
946.8
753.9
1,072.9
765.8
923.5
719.3
946.8
753.9
982.5
750.4
1,004.1
732.2
1,026.6
746.7
1,072.9
765.8
1,079.5
749.0
1,456.8
1,700.8
1,838.8
1,642.8
1,700.8
1,732.9
1,736.4
1,773.3
1,838.8
1,828.4
48.0
141.5
56.2
136.3
65.2
163.9
57.6
132.9
56.2
136.3
59.8
138.6
52.6
141.4
64.1
154.3
65.2
163.9
63.1
149.2
88.2
631.9
339.8
207.3
99.9
747.1
424.7
236.6
118.2
828.0
415.1
248.3
95.9
706.6
423.0
226.8
99.9
747.1
424.7
236.6
104.9
760.6
435.6
233.4
108.1
769.1
426.6
238.5
112.7
776.7
422.6
242.9
118.2
828.0
415.1
248.3
124.1
801.6
419.7
270.8
1,456.8
1,700.8
1,838.8
1,642.8
1,700.8
1,732.9
1,736.4
1,773.3
1,838.8
1,828.4
LIABILITIES AND CAPITAL
10 Bank loans
11 Commercial paper
Debt
12 Owed to parent
14 All other liabilities
15 Capital, surplus, and undivided profits
16 Total liabilities and capital
NOTE. Some of the data presented in the table is available in the Board's monthly G.20
(422) statistical release, which is available at www.federalreserve.gov/releases.
1. Includes finance company subsidiaries of bank holding companies but not of retailers
and banks. Data are amounts carried on the balance sheets of finance companies; securitized
pools are not shown, as they are not on the books.
2. Before deduction for unearned income and losses. Excludes pools of securitized assets.
Securities Markets and Corporate Finance
1.52
DOMESTIC FINANCE COMPANIES
31
Owned and Managed Receivables'
Billions of dollars, amounts outstanding
Type of credit
Sept.
Seasonally adjusted
2
3
4
Consumer . . .
Real estate . .
Business
519.1
217.4
540.9
1,333.1
1,420.7
542.5
239.6
551.0
571.8
280.6
568.3
1,436.8
1,419.1
567.2
261.9
562.0
574.5
267.1
561.4
578.7
274.0
566.3
571.8
280.6
568.3
574.3
280.6
570.3
578.9
282.1
575.9
Not seasonally adjusted
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Consumer
Motor vehicle loans
Motor vehicle leases
Revolving2
Other3
Securitized assets4
Motor vehicle loans
Motor vehicle leases
Revolving
Other
Real estate
One- to four-family
Other
Securitized real estate assets4
One- to four-family
Other
Business
Motor vehicles
Retail loans
Wholesale loans5
Leases
Equipment
Loans
Leases
Other business receivables6 . . .
Securitized assets4
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables6 .
1,435.4
1,340.4
1,428.2
523.9
160.2
83.3
38.9
38.7
547.7
197.0
70.0
37.6
60.9
577.2
227.6
62.5
43.3
94.7
568.1
224.0
62.9
45.5
83.2
577.4
228.6
62.5
47.7
87.4
582.8
231.2
62.4
49.9
92.4
577.2
227.6
62.5
43.3
94.7
577.2
219.1
62.9
43.5
96.3
578.2
218.6
62.9
45.3
97.3
151.9
5.7
31.1
14.0
217.4
135.0
39.5
132.8
5.5
31.6
12.2
239.6
152.2
46.7
112.5
4.8
22.2
9.5
280.6
190.2
52.7
113.5
5.0
24.0
10.1
261.9
176.2
48.3
113.1
4.9
23.1
10.0
267.1
181.6
48.3
110.2
4.8
22.3
9.6
274.0
188.5
48.6
112.5
4.8
22.2
9.5
280.6
190.2
52.7
119.0
4.7
22.2
9.4
280.6
191.0
52.3
117.9
4.7
22.2
9.3
282.1
192.3
52.5
39.7
3.2
543.0
60.7
15.4
29.3
16.0
292.1
83.3
208.8
102.5
36.9
3.8
553.1
74.9
18.2
40.3
16.3
277.6
74.6
203.1
105.0
34.1
3.5
570.5
91.6
18.4
46.2
27.0
264.9
70.6
194.3
115.4
34.8
2.7
555.8
84.1
19.7
38.1
26.2
260.9
68.6
192.3
111.4
34.6
2.7
558.4
86.5
19.3
41.0
26.2
262.6
69.7
192.9
110.7
34.3
2.7
564.2
89.0
18.8
44.0
26.2
262.4
69.7
192.8
116.9
34.1
3.5
570.5
91.6
18.4
46.2
27.0
264.9
70.6
194.3
115.4
33.9
3.5
569.8
94.7
22.3
45.4
26.9
261.9
68.9
193.0
115.6
33.7
3.5
575.2
96.8
26.1
43.8
26.9
260.0
69.9
190.1
116.4
50.2
2.4
45.9
1.9
20.2
13.0
7.2
17.4
48.4
2.2
44.2
2.1
22.1
12.5
9.6
25.1
44.8
2.2
40.6
2.0
23.6
11.5
12.1
30.2
48.4
2.2
44.2
2.1
24.2
11.7
12.5
26.8
47.4
2.2
43.2
2.1
24.2
11.7
12.5
26.9
44.9
2.2
40.6
2.0
24.0
11.5
12.5
27.0
44.8
44.4
2.2
40.2
2.0
22.9
10.8
12.0
30.2
49.4
2.2
45.2
2.0
22.1
10.1
12.0
30.4
NOTE. This table has been revised to incorporate several changes resulting from the
benchmarking of finance company receivables to the June 1996 Survey of Finance Companies. In that benchmark survey, and in the monthly surveys that have followed, more-detailed
breakdowns have been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table. The new information has
resulted in some reclassification of receivables among the three major categories (consumer,
real estate, and business) and in discontinuities in some component series between May and
June 1996.
Includes finance company subsidiaries of bank holding companies but not of retailers and
banks. Data in this table also appear in the Board's G.20 (422) monthly statistical release,
available at www.federalreserve.gov/releases.
1. Owned receivables are those carried on the balance sheet of the institution. Managed
receivables are outstanding balances of pools upon which securities have been issued; these
balances are no longer carried on the balance sheets of the loan originator. Data are shown
1,421.0
40.6
2.0
23.6
11.5
12.1
30.2
before deductions for unearned income and losses. Components may not sum to totals
because of rounding.
2. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies.
3. Includes personal cash loans, mobile home loans, and loans to purchase other types of
consumer goods, such as appliances, apparel, boats, and recreation vehicles.
4. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
5. Credit arising from transactions between manufacturers and dealers—that is, floor plan
financing.
6. Includes loans on commercial accounts receivable, factored commercial accounts, and
receivable dealer capital; small loans used primarily for business or farm purposes; and
wholesale and lease paper for mobile homes, campers, and travel trailers.
32
Federal Reserve Bulletin Statistical Supplement • June 2005
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2004
Item
2002
2003
2005
2004
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
Terms and y elds in primary and secondary markets
PRIMARY MARKETS
1
2
3
4
5
Terms]
Purchase price (thousands of dollars)
Amount of loan (thousands of dollars)
Loan-to-price ratio (percent)
Maturity (years)
Fees and charges (percent of loan amount)2
Yield (percent per year)
6 Contract rate1
8 Contract rate (HUD series)4
261.1
197.0
77.8
28.9
.62
272.1
205.3
77.9
28.7
.61
292.0
215.0
76.0
28.8
.51
297.6
218.7
76.0
29.0
.47
304.8
224.3
75.7
29.2
.49
305.5
227.0
76.6
28.8
.50
303.0
223.1
76.3
29.2
.48
317.1
232.2
75.5
28.9
.48
315.2
231.1
75.6
28.9
.47
307.0
223.8
75.3
29.1
.50
6.35
6.44
n.a.
5.71
5.80
n.a.
5.68
5.75
n.a.
5.75
5.82
n.a.
5.84
5.91
n.a.
5.94
6.02
n.a.
5.95
6.01
n.a.
5.68
5.75
n.a.
5.75
5.82
n.a.
5.77
5.84
n.a.
n.a.
5.81
n.a.
5.03
n.a.
5.19
n.a.
5.02
n.a.
5.01
n.a.
5.04
n.a.
4.91
n.a.
4.89
n.a.
5.27
n.a.
5.12
SECONDARY MARKETS
Yield (percent per year)
10 GNMA securities6
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
794,253
n.a.
n.a.
898,445
n.a.
n.a.
904,555
n.a.
n.a.
913,246
n.a.
n.a.
912,608
n.a.
n.a.
904,555
n.a.
n.a.
890,834
n.a.
n.a.
875,245
n.a.
n.a.
864,648
n.a.
n.a.
851,936
n.a.
n.a.
14 Mortgage transactions purchased (during period)
370,641
572,852
262,646
27,142
19,121
13,016
11,095
9,446
11,206
8,865
Mortgage commitments (during period)
15 Issued7
16 To sells
400,327
12 268
522,083
33 010
149,429
8 828
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
568,173
4,573
563,600
644,436
n.a.
n.a.
652,936r
n.a.
n.a.
660,301
n.a.
n.a.
656,982
n.a.
n.a.
652,936'
n.a.
n.a.
646,925'
n.a.
n.a.
654,182'
n.a.
n.a.
656,720
n.a.
n.a.
662,063
n.a.
n.a.
21 Sales
n.a.
547,046
n.a.
713,260
n.a.
365,148
n.a.
26,541
n.a.
23,207
n.a.
27,953
n.a.
26,135
n.a.
25,081
n.a.
25,912
n.a.
32,043
22 Mortgage commitments contracted (during period)9
620,981
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
13
Conventional
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end ofperiod)*
17 Total
18 FHA/VA insured
19
Conventional
Mortgage transactions (during period)
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing
Finance Board in cooperation with the Federal Deposit Insurance Corporation.
2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the
seller) to obtain a loan.
3. Average effective interest rate on loans closed for purchase of newly built homes,
assuming prepayment at the end of ten years.
4. Average contract rate on new commitments for conventional first mortgages; from U.S.
Department of Housing and Urban Development (HUD). Based on transactions on the first
day of the subsequent month.
5. Average gross yield on thirty-year, minimum-downpayment first mortgages insured by
the Federal Housing Administration (FHA) for immediate delivery in the private secondary
market. Based on transactions on first day of subsequent month.
6. Average net yields to investors on fully modified pass-through securities backed by
mortgages and guaranteed by the Government National Mortgage Association (GNMA),
assuming prepayment in twelve years on pools of thirty-year mortgages insured by the
Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
7. Does not include standby commitments issued but includes standby commitments
converted.
8. Includes participation loans as well as whole loans.
9. Includes conventional and government-underwritten loans. The Federal Home Loan
Mortgage Corporation's mortgage commitments and mortgage transactions include activity
under mortgage securities swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
Real Estate
1.54
33
MORTGAGE DEBT OUTSTANDING1
Millions of dollars, end of period
Type of holder and property
Ql
1 All holders .
2
3
4
5
By type of property
One- to four-family residences
Multifamily residences
Nonfarm, nonresidential
Farm
By type of holder
6 Major financial institutions . . .
7
Commercial banks2
One- to four-family
9
Multifamily
10
Nonfarm, nonresidential .
11
Farm
12 Savings institutions3
13
One- to four-family
14
Multifamily
15
Nonfarm, nonresidential .
16
Farm
17 Life insurance companies . .
18
One- to four-family
19
Multifamily
20
Nonfarm, nonresidential .
Farm
21
22 Federal and related agencies
23 Government National Mortgage Association
24
One- to four-family
25
Multifamily
26 Farmers Home Administration4
27
One- to four-family
28
Multifamily
29
Nonfarm, nonresidential
30
Farm
31 Federal Housing Admin, and Dept. of Veterans Affairs . . .
32
One- to four-family
33
Multifamily
34 Resolution Trust Corporation
35
One- to four-family
36
Multifamily
37
Nonfarm, nonresidential
38
Farm
39
40 Federal Deposit Insurance Corporation
One- to four-family
41
Multifamily
42
Nonfarm, nonresidential
43
Farm
44
Federal
National Mortgage Association
45
One- to four-family
46
Multifamily
47
48 Federal Land Banks
49
One- to four-family
50
Farm
51 Federal Home Loan Mortgage Corporation
52
One- to four-family
53
Multifamily
54 Federal Agricultural Mortgage Corporation
Farm
55 Mortgage pools or trusts5
56
Government National Mortgage Association
One- to four-family
57
58
Multifamily
59 Federal Home Loan Mortgage Corporation
60
One- to four-family
61
Multifamily
62 Federal National Mortgage Association . . .
63
One- to four-family
64
Multifamily
65 Farmers Home Administration4
66
One- to four-family
67
Multifamily
68
Nonfarm, nonresidential
69
Farm
70
Private
mortgage conduits
71
One- to four-family6
72
Multifamily
73
Nonfarm, nonresidential
74
Farm
75
Federal
Agricultural Mortgage Corporation
76
Farm
77 Individuals and others7 . . .
78
One- to four-family
79
Multifamily
80
Nonfarm, nonresidential
81
Farm
Q2
Q3
Q4'
9,866,126'
10,236,620'
10,532,960
10,774,480
7,484,556'
8,312,105'
5,634,347'
447,858
1,284,504
117,847
6,312,876'
486,345
1,387,388
125,496
7,111,019'
556,194'
1,517,232'
133,551'
7,325,626'
562,648'
1,554,308'
135,284'
7,561,904'
578,753'
1,587,162'
138,308'
7,872,512'
587,699'
1,635,899'
140,508'
8,096,436
599,836
1,694,043
142,644
8,281,561
607,451
1,741,534
143,937
2,791,076
1,789,819
1,023,851
84,851
645,619
35,498
758,236
620,579
64,592
72,534
531
243,021
4,931
35,631
188,376
14,083
3,089,824
2,058,426
1,222,126
94,178
704,097
38,025
781,378
631,392
68,679
80,730
577
250,019
4,657
36,816
195,040
13,506
3,387,865
2,256,037
1,346,908
104,901
763,579
40,649
870,884
703,374
77,994
88,884
632
260,944
4,403
38,556
203,946
14,039
3,518,918
2,329,270
1,394,747
107,440
785,660
41,422
927,658
753,855
81,705
91,449
648
261,990
4,583
38,685
204,643
14,079
3,666,087
2,435,903
1,473,532
110,832
808,610
42,928
966,533
789,486
83,952
92,455
639
263,652
4,603
38,933
205,937
14,179
3,793,873
2,517,411
1,522,198
114,986
836,332
43,894
1,009,323
830,379
85,808
92,508
628
267,139
4,653
39,464
208,743
14,279
3,925,852
2,595,318
1,568,000
119,294
863,467
44,557
1,058,457
875,864
87,526
94,467
598
272,077
4,741
40,192
212,594
14,550
4,032,851
2,689,181
1,633,264
122,797
888,100
45,021
1,069,567
884,765
90,384
93,821
597
274,102
4,777
40,491
214,173
14,661
373,240
8
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
0
0
543,492'
45
45
0
69,681
13,668
11,581
41,172
3,260
4,550
1,324
3,226
0
0
0
0
0
42
7
8
27
0
241,510
218,845
22,665
51,070
3,005
48,065
59,817'
27,069'
32,748'
944
944
547,729'
45
45
0
69,935
13,557
11,565
41,520
3,294
4,498
1,328
3,169
0
0
0
0
0
23
4
4
15
0
245,123'
222,119'
23,004'
51,849
3,051
48,798
60,808'
27,517'
33,291'
900'
900'
549,432
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
539,357
42
42
0
70,690
13,338
11,537
42,559
3,255
4,733
1,338
3,394
0
0
0
0
0
11
15
0
239,433
219,867
19,566
49,307
2,901
46,406
60,270
27,274
32,996
990
990
543,323'
48
48
0
71,271
13,820
11,588
42,476
3,387
4,460
1,315
3,144
0
0
0
0
0
37
6
7
24
0
240,710
220,331
20,379
50,007
2,942
47,065
60,724'
27,479'
33,245'
980
980
2
7
0
245,126
222,122
23,004
52,793
3,106
49,687
61,360
27,767
33,593
887
887
2
7
0
234,312
212,322
21,989
53,341
3,139
50,202
61,736
27,937
33,799
865
865
0
0
0
773,405'
494,658'
53,759
224,988
0
1,656
1,656
4,022,821'
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
864,217'
554,181'
59,225
250,811
0
367
367
4,540,624'
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
1,051,499'
689,751'
67,288
294,460
0
1,003
1,003
4,640,793'
464,306
438,300
26,007
1,166,862
1,150,632
16,230
1,878,030
1,802,301
75,729
0
0
0
0
0
1,130,629'
759,502'
69,108
302,019
0
966
966
4,752,457'
458,524
427,943
30,581
1,184,976
1,168,494
16,482
1,879,009
1,803,584
75,425
0
0
0
0
0
1,228,981'
840,495'
70,688
317,798
0
967
967
4,936,014'
452,555'
421,364'
31,191
1,197,412
1,180,757
16,655
1,892,680
1,816,973
75,707
0
0
0
0
0
1,392,403'
991,336'
71,953
329,114
0
964
964
5,053,879
441,350
409,203
32,147
1,204,476
1,187,722
16,754
1,895,761
1,819,931
75,830
0
0
0
0
0
1,511,354
1,088,007
75,170
348,177
0
938
938
5,182,942
431,625
399,051
32,574
1,218,978
1,202,023
16,955
1,896,003
1,820,163
75,840
0
0
0
0
0
1,635,454
1,191,443
77,410
366,601
715,051
499,098
80,493
112,014
23,446
765,895'
549,542'
76,953
114,580
24,819
852,376'
621,004'
79,159'
125,820'
26,392'
874,832'
640,729'
79,331'
128,036'
26,736'
904,091'
674,014'
81,588'
121,162'
27,325'
959,001'
722,698'
80,885'
127,667'
27,751'
1,003,796
761,285
81,358
132,961
28,192
1,019,334
774,345
80,263
136,274
28,453
72,452
15,824
11,712
40,965
3,952
3,290
1,260
2,031
0
0
0
13
2
3
8
0
165,957
155,419
10,538
40,885
2,406
38,479
62,792
40,309
22,483
202
202
3,605,189'
591,368
569,460
21,908
948,409
940,933
7,476
1,290,351
1,238,125
52,226
0
1. Multifamily debt refers to loans on structures of five or more units.
2. Includes loans held by nondeposit trust companies but not loans held by bank trust
departments.
3. Includes savings banks and savings and loan associations.
4. FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from
FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting
changes by the Farmers Home Administration.
5. Outstanding principal balances of mortgage-backed securities insured or guaranteed by
the agency indicated.
882
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 • June 2005
1.55 CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
2004
Holder and type of credit
2002
2003'
2005
2004'
Sept.'
Oct.'
Nov.'
Dec'
Jan.
Feb.
Seasonally adjusted
1 Total
1,922,805'
2,013,481
2,104,510
2,084,706
2,097,004
2,097,391
2,104,510
2,116,457
2,122,384
2 Revolving
736,944'
1,185,861
760,717
1,252,765
792,964
1,311,546
785,413
1,299,294
788,056
1,308,948
787,536
1,309,855
792,964
1,311,546
795,646
1,320,811
796,929
1,325,455
Not seasonally adjusted
4 Total
By major holder
5 Commercial banks
6 Finance companies
8 Federal government and Sallie Mae
10 Nonfinancial business
11 Pools of securitized assets3
By major type of credit*
12 Revolving
13
Commercial banks
14 Finance companies
16
Federal government and Sallie Mae
18
19
Nonfinancial business
Pools of securitized assets3
21
22
Commercial banks
Finance companies
24
25
26
27
Federal government and Sallie Mae
Savings institutions
Nonfinancial business
Pools of securitized assets3
1,954,376'
2,047,034
2,140,745
2,085,808
2,101,084
2,109,665
2,140,745
2,134,946
2,123,627
606,372
237,790
195,744
129,576
68,705
79,108'
637,082
675,038
295,424
205,877
114,658
77,850
67,211
610,976
711,386
365,594
215,384
98,363
91,281
65,857
592,882
682,777
352,691
214,471
99,185
89,158
60,322
587,205
683,637
363,794
215,675
99,336
89,873
60,442
588,328
681,402
373,495
216,095
98,579
90,566
61,327
588,202
711,386
365,594
215,384
98,363
91,281
65,857
592,882
700,679
358,949
214,838
100,839
91,108
63,839
604,692
696,669
361,178
214,114
100,868
90,953
62,635
597,211
759,331'
250,197
38,948
22,228
n.a.
16,260
41,435'
390,263
784,402
290,667
37,576
22,410
n.a.
23,848
23,226
386,675
818,869
321,765
43,314
23,244
n.a.
27,905
19,184
383,457
779,794
292,659
45,466
22,166
n.a.
25,478
18,328
375,697
782,953
292,064
47,738
22,057
n.a.
26,296
18,343
376,455
789,925
291,742
49,901
22,336
n.a.
27,087
18,547
380,312
818,869
321,765
43,314
23,244
n.a.
27,905
19,184
383,457
806,608
306,300
43,505
22,909
n.a.
27,658
18,778
387,458
797,175
301,905
45,303
22,629
n.a.
27,435
18,488
381,415
1 195 045
356,175
198,842
173,516
129,576
52,445
37,673
246,819
1,262,632
384,371
257,847
183,467
114,658
54,002
43,986
224,301
1,321,876
389,621
322,279
192,140
98,363
63,376
46,673
209,424
1,306,014
390,118
307,226
192,305
99,185
63,680
41,994
211,508
1,318,131
391,573
316,056
193,618
99,336
63,578
42,099
211,873
1,319,740
389,661
323,594
193,759
98,579
63,478
42,780
207,890
1,321,876
389,621
322,279
192,140
98,363
63,376
46,673
209,424
1,328,338
394,379
315,445
191,929
100,839
63,450
45,061
217,234
1,326,453
394,765
315,875
191,485
100,868
63,518
44,147
215,796
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
2004
Item
2002
2003
2005
2004
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
INTEREST RATES
Commercial banks2
1 48-month new car
2 24-month personal
7.62
12.54
6.93
11.95
6.60
11.89
6.55
12.02
n.a.
n.a.
n.a.
n.a.
6.71
11.84
n.a.
n.a.
n.a.
n.a.
6.86
12.01
Credit card plan
3 All accounts
4 Accounts assessed interest
13.40
13.11
12.30
12.73
12.71
13.21
13.01
13.60
n.a.
n.a.
n.a.
n.a.
12.50
13.92
n.a.
n.a.
n.a.
n.a.
12.21
14.13
4.29
10 74
3.40
9 72
4.36
8 96
5.62
8 96
5.74
8 92
4.42
8 94
5.64
8 82
4.97
8 86
5.56
8 95
4.68
9 36
56.8
57 5
61.4
57 5
60.5
56 8
60.8
57 1
60.9
57 2
63.4
57 1
60.5
56 8
60.2
56 7
59.3
57 6
59.1
57 9
94
100
95
100
89
100
84
100
81
99
85
99
83
98
85
99
83
98
89
98
24,747
14,532
26,295
14,613
24,888
15,136
22,951
15,197
22,765
15,490
24,711
15,547
23,984
15,632
24,434
15,964
23,939
15,673
24,290
15,453
Auto finance companies
5 New car
OTHER TERMS3
Maturity (months)
7 New car
Loan-to-value ratio
9 New car
10 Used car
Amount financed (dollars)
11 New car
12 Used car
1. The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals. Data in this table also appear in the Board's G.19 (421) monthly
statistical release, available at www.federalreserve.gov/releases.
2. Data are available for only the second month of each quarter.
3. At auto finance companies.
Flow of Funds
1.57
35
FUNDS RAISED IN U.S. CREDIT MARKETS1
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q3
Q4
Q1
Q2
Q3'
Q4'
Q1
Nonfinancial sectors
1 Total net borrowing by domestic nonfinancial sectors .
By sector and instrument
2 Federal government
3
Treasury securities
4
Budget agency securities and mortgages
1,384.7'
-71.2
-71.0
-.2
-295.9
-294.9
-1.0
1,755.4'
1,943.2
-5.6
-5.1
-.5
257.6
257.1
.5
396.0
398.4
-2.4
317.1
317.0
.1
360.0
368.6
-8.6
483.9
482.9
1.1
444.9
448.6
-3.6
206.7
206.9
-.2
312.1
311.8
.3
606.2
606.9
-.7
5 Nonfederal
6
7
8
9
10
11
12
13
14
15
16
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances . . . .
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
37.4
54.4
221.7
81.4
26.1
567.1'
423.9'
38.9
97.9
6.5
114.0'
48.1
23.6
162.6
97.7
79.6
553.3'
409.6'
28.0
109.2
6.6
167.1'
-88.3
122.9
348.5
-82.0
8.9
671.1'
509.2'
40.2
114.1
7.7
139.4'
-64.2
159.4
132.3
-87.4
20.3
819.2'
678.5'
36.8
96.2
7.6
83.7'
-40.0
135.1
158.3
-82.0
10.0
997.5'
798.2'
69.3'
122.0'
8.1
92.7'
4.8
130.0
96.1
-110.9
-22.9
1,060.5'
836.6'
72.1'
143.3'
8.5
110.0'
-74.3
107.7
70.6
-90.8
68.7
895.6'
692.1'
89.7'
105.2'
8.5'
47.1'
33.8
180.3
114.2
-46.5
23.2
1,169.8'
990.8'
19.0
153.2'
6.9
114.8'
32.3
72.7'
6.7
91.7
-30.7
1,080.7'
894.2'
63.1'
112.8
10.6
57.2'
22.4
164.0
52.8
-13.2
26.6
1,319.2
1,096.9
30.1
183.0
9.1
121.0
-25.4
102.1
138.5
96.8
107.9
1,129.3
900.0
46.1
173.4
9.7
81.9
53.7
297.7
26.4
83.0
136.5
1,109.0
878.5
30.1
195.2
5.1
98.9
17
18
19
20
21
22
By borrowing sector
Household
Nonfinancial business . . . .
Corporate
Nonfarm noncorporate . .
Farm
State and local government
493.5'
569.9
370.2
194.3
5.3
38.5
558.2'
558.5
350.5
197.1
10.9
15.5
620.3'
394.4
221.2
162.7
10.5
105.8
735.3'
184.0
27.7
148.5
7.8
143.9
846.5'
307.3'
143.4'
156.1
7.7
117.8
904.1'
254.5'
73.8'
168.8
11.9'
109.1
662.3'
266.0'
71.6'
184.7
9.7'
96.3
1,086.0'
342.6
199.3
138.7
4.5
161.1
981.5'
274.9'
94.3'
167.6
12.9
54.1'
1,107.8
433.1
224.8
187.5
20.8
151.9
943.8
594.2
404.9
177.6
11.6
93.2
956.3
577.0
389.5
186.1
1.3
271.9
13.0
16.3
1.9
.5
-5.7
57.0
31.7
15.2
11.4
-1.3
-49.8
-14.2
-24.5
-7.3
-3.8
5.6
36.1
-33.5
5.3
-2.3
-15.7
22.3
-28.1
-7.7
-2.1
-64.7
-56.0
-8.8
5.3
-5.3
46.0
20.2
26.5
-.7
.0
70.3
99.6
-19.6
-6.7
-2.9
-78.3
-30.1
-54.2
7.0
-1.1
22.7
24.4
12.9
-9.0
-5.6
228.4
160.7
52.3
18.5
-3.1
13.8
30.9
-28.2
12.4
-1.4
23 Foreign net borrowing in United States .
24
Commercial paper
25
Bonds
26
Bank loans n.e.c
27
Other loans and advances
893.2r
28 Total domestic plus foreign
1,326.4'
1,430.7'
1,677.1'
2,171.7
Financial sectors
29 Total net borrowing by financial sectors . ..
1,020.6'
788.6'
890.5'
835.3'
1,029.0'
1,073.9'
1,115.3'
708.4'
866.6'
772.3
858.7
By instrument
Federal government-related
Government-sponsored enterprise securities
Mortgage pool securities
Loans from U.S. government
593.3
318.8
274.6
.0
434.9
235.2
199.7
.0
642.7
304.1
338.5
.0
546.7
219.8
326.8
.0
574.3
243.7
330.5
.0
767.5
459.9
307.6
.0
572.2
96.9
475.3
.0
80.6'
.6'
80.1
.0
285.3'
211.9'
73.4
.0
179.0
119.6
59.4
.0
10.8
10.1
.8
.0
-27.4
-40.6
13.2
.0
427.3'
176.2
149.9'
-12.8
107.1
6.9
353.7'
131.7
170.9'
3.8
42.5
4.9
247.8'
-45.3
252.5'
13.0
25.5
2.2
288.7'
-63.5
335.7'
1.5
6.8
8.2
454.7'
-63.8
483.8'
-4.8
31.2
8.3
306.5'
-62.5
340.2'
14.5
.7
13.5
543.1'
-114.3
602.9'
-6.5
41.9
19.1
627.8'
149.6
350.5'
25.3
76.0
26.5
581.4'
10.8
422.9'
-34.4
166.1
15.9
593.3
-64.4
616.1
52.0
-30.9
20.6
847.9
40.8
675.3
6.8
85.4
39.6
592.1
180.7
355.3
14.0
23.6
18.4
67.2
48.0
2.2
.7
318.8
274.6
153.8'
70.7
.0
10.4
-17.2
91.6
60.0
27.3
.0
-.7
235.2
199.7
165.5'
81.9
.0
4.5
15.6
-.3
52.9
-2.0
1.5
.6
304.1
338.5
243.5'
1.3
.0
3.2
1.4
-54.6
49.7
-23.4
2.0
2.0
219.8
326.8
193.9'
42.2
.0
24.5
-1.7
-.5
49.2
6.1
2.2
2.9
243.7
330.5
239.3'
118.2
.0
31.9
6.4
-1.4
2.8
.4
3.3
3.1
459.9
307.6
200.0'
91.2
.0
43.8
9.9
-48.0
85.2
25.0
1.0
2.5
96.9
475.3
178.0'
148.4
.0
56.3
-6.6
53.3
187.6
-7.0
-2.7
-.4
.6'
80.1
181.1'
133.9
.0
67.1
51.9
16.2
7.1
184.4
4.9
2.7
211.9'
73.4
316.6'
-19.8
.0
43.6
2.5
39.5
58.9
-21.1
.9
.1
119.6
59.4
388.8
127.5
.0
102.5
33.2
-97.6
57.2
101.3
6.1
9.7
10.1
.8
347.3
228.9
.0
157.8
-26.6
-33.8
164.8
-39.7
1.6
-1.6
-40.6
13.2
480.8
-113.1
.0
48.9
11.6
38.9
30
31
32
33
34 Private
35
Open market paper
36
Corporate bonds
37
Bank loans n.e.c
38
Other loans and advances
39
Mortgages
40
41
42
43
44
45
46
47
48
49
50
51
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
Issuers of asset-backed securities (ABSs) . . . .
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
36
Federal Reserve Bulletin Statistical Supplement • June 2005
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS '—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
2003
Transaction category or sector
1999
2000
2001
2002
2004
2005
2003
Q3
Q4
Ql'
Q2'
Q3'
Q4'
Q1
All sectors
52 Total net borrowing, all sectors
53
54
55
56
57
58
59
60
Open market paper
U.S. government securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
2,064.4'
1,681.8'
1,955.6'
2,161.8'
2,680.8'
2,594.0'
2,546.0'
2,852.5
2,543.7
2,694.5
3,030.4
2,989.8
229.9
522.1
54.4
373.5'
69.0
127.5
574.0'
114.0'
211.6
139.0
23.6
348.7'
112.8
120.8
558.2'
167.1'
-147.8
637.1
122.9
576.5'
-76.2
30.6
673.3'
139.4'
-91.5
804.2
159.4
434.5'
-80.6
24.7
827.4'
83.7'
-81.6
970.3
135.1
614.0'
-94.5
39.1
1.005.8'
92.7'
-113.7
1,084.5
130.0
427.5'
-91.1
-27.4
1,074.0'
110.0'
-168.5
932.3
107.7
700.1'
-98.0
110.6
914.6'
47.1'
283.1
564.5
180.3
445.1
-28.0
96.3
1,196.3
114.8
13.0
730.2
72.7
375.4
64.3
134.3
1,096.6
57.2
-17.6
385.7
164.0
681.8
29.7
-9.9
1,339.8
121.0
176.0
322.9
102.1
866.2
122.0
190.2
1,168.9
81.9
265.3
578.8
297.7
353.6
109.5
158.7
1,127.4
98.9
Funds raised thro igh mutual funds and corporate equities
61 Total net issues
62 Corporate equities
63
Nonfinancial corporations
64 Foreign shares purchased by U.S. residents
65 Financial corporations
66 Mutual fund shares
192.7
244.7
300.2
229.4
393.3'
388.5'
412.5
541.5
212.4
321.9
302.1
390.7
1.5
-110.4
114.3
-2.4
191.2
5.3
-118.2
106.7
16.8
239.4
99.0
-47.4
109.1
37.3
201.2
47.0
-41.6
17.6
71.0
182.4
105.3'
-57.8
100.4
62.7'
288.0
128.7'
-44.9
122.0
51.6'
259.8
75.1
-69.0
76.8
67.3
337.4
109.0
-82.2
85.7
105.5
432.5
100.0
-159.5
161.6
97.9
112.4
-6.5
-203.2
68.3
128.4
328.4
-20.9
-183.2
56.4
105.9
-7.7
-226.0
155.6
62.7
398.4
1. Data in this table also appear in the Board's Z.I (780) quarterly statistical release, tables
F.2 through F4, available at www.federalreserve.gov/releases.
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q3
Q4
Q1 P
Q2 P
Q3 P
Q4 r
Q1
N E T L E N D I N G IN C R E D I T M A R K E T S 2
1 Total net lending in credit markets
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Domestic nonfederal nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Bank personal trusts and estates
Life insurance companies
Other insurance companies
Private pension funds
State and local government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
Asset-backed securities issuers (ABSs)
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
2,064.4'
1,681.8'
1,955.6'
2,161.8' 2,680.8' 2,594.0' 2,546.0' 2,852.5
2,543.7
2,694.5
3,030.4
2,989.8
87.2'
10.8'
-21.9'
-2.4
100.6
6.4
171.2
1,799.5
25.7
312.2
318.6
-17.0
6.2
4.4
67.2
27.5
27.8
53.5
-3.0
99.3
45.5
182.0
48.4
9.6
287.3
274.6
174.5
97.1
.0
-1.2
-34.7
103.4
-3.3'
-40.5'
24.9'
.0
12.3
11.6
241.9
1,431.5
33.7
357.9
339.5
23.9
-12.2
6.7
56.2
28.0
.8
57.9
-8.7
-96.4
45.8
143.0
20.9
-5.6
246.0
199.7
152.5
108.6
.0
-4.4
68.9
24.4
-36.4'
-153.1'
2.4'
6.4
107.8
6.0
305.3
1,680.7
39.9
205.2
191.6
-.6
4.2
10.0
44.6
41.5
-28.1
130.9
9.0
13.3
-41.1
246.0
126.1
3.2
304.7
338.5
230.1'
-4.8
.0
8.7
92.4
-89.2
-28.4'
-71.3'
22.3'
-.4
21.0'
9.6
422.8
1,757.8'
77.7
404.4
393.8
6.2
3.1
1.3
33.6
42.7
.9
233.0
39.9
25.7
-14.0
-25.3
144.2
8.6
224.1
326.8
201.9'
21.2
.0
25.4
28.4
-58.0'
199.6'
156.3'
.2'
3.2
39.9'
-2.5
538.2
1,945.6'
37.2
299.5
323.3
-43.0
8.6
10.6
126.3
50.7
-2.4
180.6
67.0
14.2
9.0
-113.1
137.7
36.2
236.5
330.5
245.9'
84.2
.0
23.5
79.6
95.4'
745.1'
655.6'
7.2'
3.8
78.5'
20.1
321.4
1,507.3'
37.6
-6.1
100.5
-100.0
-26.1
19.4
66.4
83.6
-2.5
117.1
68.7
41.9'
-16.4
-220.2
-14.5
42.5
506.6
307.6
204.1
164.4
.0
28.1
21.1
76.4'
254.4'
322.4'
-88.3'
3.9
16.4'
-4.3
682.3
1,613.6'
33.8
206.1
283.0
-85.3
.2
8.1
143.9
-5.3
-2.0
85.9
93.3
47.4'
39.9
-262.4
93.9
16.1
34.0
475.3
196.9
107.5
.0
38.0
306.5
-32.4'
-257.2
-420.7
74.0
3.1
86.4
4.7
952.7
2,152.3
16.2
880.8
849.5
18.3
1.2
11.9
225.3
44.3
1.0
235.1
105.3
44.7
6.6
-241.8
208.7
9.9
12.4
80.1
193.8
187.3
.0
94.3
-207.7
250.1
242.5
133.4
24.7
3.0
81.4
-11.9
761.3
1,551.8
53.0
491.8
491.5
-15.9
-2.3
18.5
163.3
63.2
1.0
176.0
65.1
22.9
40.8
-109.0
21.1
21.7
181.1
73.4
333.8
44.8
.0
27.9
-189.6
59.1
299.2
272.4
-44.1
2.5
68.4
24.6
586.3
1,784.5
74.1
253.2
249.9
-10.2
3.0
10.5
152.4
17.6
1.0
168.2
73.5
44.9
-41.2
-153.1
111.5
.3
131.8
59.4
396.5
91.7
.0
64.4
397.9
-72.8
523.5
421.5
23.5
1.5
77.1
-2.2
806.4
1,702.6
61.3
702.9
601.1
89.1
-2.0
14.8
264.8
42.8
4.3
229.9
65.2
27.0
-10.0
-46.6
127.4
12.7
-166.6
.8
312.0
190.7
.0
78.0
-117.3
-80.9
71.5
-121.2
56.8
1.2
134.7
-.3
848.6
2,070.1
-17.6
1,025.0
813.4
211.2
-11.9
12.2
28.6
39.1
-2.5
171.7
78.5
7.5
2.7
-201.7
211.3
9.5
-95.4
13.2
471.5
55.7
.0
22.7
54.4
184.1
2,064.4'
1,681.8'
1,955.6'
2,161.8'
2,680.8'
2,594.0'
2,546.0'
-8.7
-3.0
1.0
48.9
18. lp
151.2
45.1
131.1
249.1
169.0
1.5
191.2
262.5
104.4
50.8
123.1
22.9
-8.1
-88.3
1,116.2'
-.4
-4.0
2.4
126.9
12.0'
-71.4
188.8
116.2
233.3
114.5
5.3
239.4
402.3
146.1
50.2
133.0
25.9
56.6
-53.8
1,399.8'
4.3
.0
1.3
6.8
-28.0
204.3
267.2
68.6
428.6
23.7
99.0
201.2
-80.4'
3.1
77.2
128.5
14.5
-59.9
-24.5'
668.4'
3.2
.0
1.0
21.0
17.4'
43.5
270.9
50.1
-16.8
106.6
47.0
182.4
70.8'
-87.0
60.1
169.5
22.2
-2.4
-102.4'
483.7'
-.9
.0
.6
.0
-4.0'
133.8
229.4
62.0
-207.8
227.2
105.3'
288.0
136.4'
132.5
66.8
197.1'
8.8'
-26.3
-97..7'
666.2'
2.1
.0
.1
-306.0
80.4'
44.7'
120.2
-23.3
-227.3
39.5
128.7'
259.8
141.6'
-109.7
42.2
236.0'
4.1
-26.4
1,427.5'
-9.3
.0
.0
128.1
97.9'
170.9'
102.1
64.6
-467.7
380.0'
75.1
337.4
162.0'
-278.1
110.1
196.0'
-20.6'
-25.5
-129.3'
-11.1'
-2.6
.0
.8
132.4
-213.0
172.4
226.2
301.0
-134.0
273.0
109.0
432.5
336.6
285.3
70.8
232.7
29.8
-23.3
-67.4
1,896.7
-4.8
.0
1.2
14.8
87.1
144.5
429.9
177.6
11.8
-191.6
100.0
112.4
290.6
163.3
70.4
143.3
34.1
-23.3
-43.6
497.5
-2.1
.0
.7
119.4
-222.3
102.2
167.1
207.2
-154.3
427.0
-6.5
328.4
253.0
12.2
81.1
192.9
23.9
-23.3
-104.7
1,071.6
-3.2
.0
.1
218.0
56.2
178.3
174.4
302.1
-268.3
-MIA
-20.9
323.0
245.0
205.6
71.6
193.0
12.8
-19.8
-69.4
1,239.2
-1.9
.0
.8
100.0
54.3
107.1
105.9
281.8
-82.5
619.7
-7.7
398.4
302.9
-28.2
78.0
219.0
28.8
-12.1
-15.8
1,086.8
4,642.4'
4,804.8'
3,959.4'
3,502.8'
4,598.1'
4,316.9'
3,428.7'
6,911.4
4,558.8
5,167.9
5,690.9
6,225.3
-.7
30.5
3.2'
38.6
10.8
-226.0'
-1.2
66.1
17.3'
110.8
32.6
-440.9'
-12.8
17.2
-61.2
21.4
-304.9'
-.6
11.1'
7.2'
20.0'
27.8
-54.1'
-.3
31.6'
-4.4'
-16.7'
-35.2'
-133.9'
-271.2'
33.9'
-53.9'
-29.5
88.7'
-.7
146.6'
-31.7'
145.0'
-60.4'
-826.4'
-.4
41.2
15.8
-127.2
-1.6
420.1
.0
-47.0
64.0
-228.8
38.8
255.5
-.3
152.8
-43.9
123.4
34.7
-216.0
-.5
99.5
24.1
-353.9
12.7
651.5
.1
89.1
25.8
571.6
-42.9
-743.6
-7.4
-.8
24.1'
9.0
-.3
19.9'
5.7
-.5
18.4'
-1.6
-.7
147.2'
-8.9
.0
29.4'
14.2'
1.0
66.5'
41.5
1.7
73.5
2.4
-14.4
8.6
3.1
8.4
63.4
3.8
5.2
-53.2
4.5
37.1
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
54
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
Investment in bank personal trusts
Noncorporate proprietors' equity
Miscellaneous
55 Total financial sources .
56
57
58
59
60
61
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements . . . .
Taxes payable
Miscellaneous
Floats not included in assets (-)
62 Federal government checkable deposits
63 Other checkable deposits
64 Trade credit
65 Total identified to sectors as assets ..
4,991.5'
4,276.1'
1. Data in this table also appear in the Board's Z.I (780) quarterly statistical release, tables
F.I and F.5, available at www.federalreserve.gov/releases.
3,346.5'
4,736.4' 4,572.9'
3,974.5'
2. Excludes corporate equities and mutual fund shares.
38
1.59
Federal Reserve Bulletin Statistical Supplement • June 2005
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
Transaction category or sector
Q3
Q4
Q1
Q2
Q3'
Q4'
Q1
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonflnancial sectors
By sector and instrument
2 Federal government
3
Treasury securities
4
Budget agency securities and mortgages
5 Nonfederal
18,101.0'
19,216.4'
20,537.2'
22,237.2'
21,782.7'
22,237.2'
22,672.7'
23,079.1'
23,608.3
24,169.9
24,681.1
3,385.1
3,357.8
27.3
3,379.5
3,352.7
26.8
3,637.0
3,609.8
27.3
4,033.1
4,008.2
24.9
3,914.5
3,887.5
27.0
4,033.1
4,008.2
24.9
4,168.9
4,143.8
25.1
4,209.6
4,185.4
24.2
4,292.9
4,268.7
24.2
4,395.0
4,370.7
24.3
4,559.7
4,535.6
24.1
16,900.2'
14,715.9'
17,868.3'
18,503.8'
19,315.4
20,121.4
6
7
8
9
10
11
12
13
14
15
16
By instrument
Commercial paper
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
278.4
1,480.9
2,230.3
1,335.0
932.1
6,727.9'
5,125.2'
388.6
1,103.9
110.2
1,731.3'
190.1
1,603.7
2,578.8
1,253.6
941.0
7,399.0'
5,634.3'
428.8
1,218.0
117.8
1,870.7'
126.0
1,763.1
2,711.0
1,166.2
961.3
8,218.2'
6,312.9'
465.7
1,314.2
125.5
1,954.4'
85.9
1,898.2
2,869.3
1,116.6'
971.3
9,215.7'
7,111.1'
534.9'
1,436.1'
133.6
2,047.0'
108.4
1,863.5
2,851.7
1,096.0
958.0
8,987.0'
6,938.5'
512.5'
1,404.4
131.7
2,003.6'
85.9
1,898.2
2,869.3
1,116.6'
971.3
9,215.7'
7,111.1'
534.9'
1,436.1'
133.6
2,047.0'
95.5
1,940.4
2,897.9
1,101.4'
969.5
9,469.1'
7,325.3'
539.7'
1,468.8'
135.3
2,030.0'
102.5
1,973.9'
2,899.6
1,121.6'
976.8
9,753.5'
7,561.9'
555.4'
1,497.8'
138.3
2,041.5'
109.3
1,993.6
2,912.8
1,114.1
981.0
10,118.8
7,872.5
563.0
1,542.8
140.5
2,085.8
101.7
2,028.0
2,947.4
1,148.8
1,003.1
10,405.2
8,096.4
574.5
1,591.7
142.6
2,140.7
115.6
2,098.9
2,954.0
1,166.2
1,027.7
10,642.1
8,281.5
582.0
1,634.6
143.9
2,117.1
17
18
19
20
21
22
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
7,009.2'
6,514.4
4,536.2
1,796.7
181.5
1,192.3
7,629.5'
6,909.4
4,758.1
1,959.3
192.0
1,298.1
8,364.8'
7,093.4
4,785.7
2,107.8
199.8
1,442.0
9,231.7'
7,412.7'
4,941.2'
2,264.0
207.5'
1,559.7
9,008.4'
7,330.1
4,907.2
2,217.2
205.6
1,529.8
9,231.7'
7,412.7'
4,941.2'
2,264.0
207.5'
1,559.7
9,419.5'
7,485.7'
4,981.4'
2,298.7
205.6
1,598.6
9,679.8'
7,562.8'
5,009.2'
2,341.1
212.5'
1,626.8'
10,001.3
7,669.4
5,065.0
2,386.9
217.5
1,644.8
10,276.2
7,823.9
5,172.0
2,431.9
220.0
1,674.8
10,427.5
7,953.2
5,257.5
2,478.4
217.2
1,740.8
23 Foreign credit market debt held in
United States
709.6
659.9
665.5
649.8
638.7
649.8
666.9
648.3
654.2
710.6
714.0
24
25
26
27
120.9
468.0
70.5
50.2
106.7
443.5
63.2
46.4
142.8
410.0
68.6
44.1
165.1
381.9
60.9
42.0
160.4
375.3
61.0
42.0
165.1
381.9
60.9
42.0
190.0
377.0
59.2
40.8
183.4
363.5
60.9
40.5
189.2
366.7
58.7
39.7
228.7
379.8
63.3
38.8
236.9
372.7
66.4
38.0
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
28 Total credit market debt owed by nonflnancial
sectors, domestic and foreign
19,876.3'
22,887.0'
22,421.5'
22,887.0'
23,339.6'
24,880.5
23,727.4'
Financial sectors
29 Total credit market debt owed by
financial sectors
8,237.0'
9,127.6'
9,962.9'
10,977.9'
10,676.2'
10,977.9'
11,133.2'
11,328.1'
11,543.5
11,794.3
11,915.6
30
31
32
33
34
35
36
37
38
39
By instrument
Federal government-related
Government-sponsored enterprise securities .
Mortgage pool securities
Loans from U.S. government
Private
Open market paper
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
4,319.7
1,826.4
2,493.2
.0
3,917.4'
1,214.7
2,090.0'
91.1
438.3
83.4
4,962.3
2,130.6
2,831.8
.0
4,165.2'
1,169.4
2,342.5'
104.1
463.7
85.6
5,509.0
2,350.4
3,158.6
.0
4,453.9'
1,105.9
2,678.2'
105.6
470.5
93.8
6,083.3
2,594.1
3,489.1
.0
4,894.6'
1,042.1
3,147.9'
100.8
501.7
102.1
5,941.2
2,569.9
3,371.3
.0
4,735.0'
1,025.7
3,018.6'
103.1
490.3
97.3
6,083.3
2,594.1
3,489.1
.0
4,894.6'
1,042.1
3,147.9'
100.8
501.7
102.1
6,104.4'
2,594.3'
3,510.2
.0
5,028.7'
1,055.0
3,243.7'
104.8
516.6
108.7
6,170.7'
2,647.3'
3,523.5
.0
5,157.4'
1,028.2
3,359.1'
99.2
558.1
112.7
6,220.8
2,677.2
3,543.6
.0
5,322.8
1,022.0
3,516.2
112.5
554.3
117.8
6,222.2
2,679.7
3,542.5
.0
5,572.1
1,076.3
3,679.0
113.2
575.8
127.7
6,217.0
2,669.5
3,547.5
.0
5,698.6
1,096.2
3,777.1
114.4
578.6
132.3
40
41
42
43
44
45
46
47
48
49
50
51
52
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Federally related mortgage pools
Issuers of asset-backed securities (ABSs)
Brokers and dealers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Funding corporations
266.7
242.5
287.7
3.4
2.5
1,826.4
2,493.2
1,607.7'
40.9
778.0
16.0
168.0
503.9
296.0
266.1
285.7
4.9
3.1
2,130.6
2,831.8
1,851.2'
42.3
779.2
16.0
171.2
449.3
325.5
286.4
262.3
6.9
5.1
2,350.4
3,158.6
2,045.1'
40.6
821.4
16.0
195.7
448.8
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
2,270.4'
47.0
939.6
16.0
227.7
447.4
333.8
304.8
262.3
8.8
7.4
2,569.9
3,371.3
2,225.2'
48.6
897.2
16.0
213.6
417.2
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
2,270.4'
47.0
939.6
16.0
227.7
447.4
355.8
347.5
267.2
8.4
7.9
2,594.3'
3,510.2
2,306.3'
60.0
959.0
16.0
244.4
456.1
358.7
351.5
308.0
9.6
8.6
2,647.3'
3,523.5
2,385.1'
60.6
963.1
16.0
255.3
440.8
356.8
366.6
308.2
9.9
8.6
2,677.2
3,543.6
2,475.6
68.9
995.1
16.0
295.8
421.3
357.5
381.3
332.8
11.4
11.1
2,679.7
3,542.5
2,578.9
62.2
1,057.2
16.0
335.3
428.5
372.9
402.3
324.4
11.8
10.7
2,669.5
3,547.5
2,689.5
65.1
1,013.8
16.0
347.5
444.6
29,003.9'
31,165.6'
33,864.9'
33,097.7'
33,864.9'
34,472.8'
35,055.5'
35,806.0
36,674.8
37,310.7
1,466.2
8,341.8
1,603.7
5,364.8'
1,421.0
1,451.1
7,484.6'
1,870.7'
1,374.7
9,146.0
1,763.1
5,799.2'
1,340.4
1,475.9
8,312.0'
1,954.4'
1,293.1
10,116.3
1,898.2
6,399.2'
1,278.3'
1,515.0
9,317.8'
2,047.0'
1,294.5
9,855.7
1,863.5
6,245.5'
1,260.2
1,490.3
9,084.3'
2,003.6'
1,293.1
10,116.3
1,898.2
6,399.2'
1,278.3'
1,515.0
9,317.8'
2,047.0'
1,340.4
10,273.4'
1,940.4
6,518.6'
1,265.3'
1,527.0
9,577.8'
2,030.0'
1,314.2
10,380.3'
1,973.9'
6,622.2'
1,281.8'
1,575.4
9,866.2'
2,041.5'
1,320.5
10,513.7
1,993.6
6,795.6
1,285.3
1,575.0
10,236.6
2,085.8
1,406.7
10,617.2
2,028.0
7,006.1
1,325.3
1,617.7
10,533.0
2,140.7
1,448.6
10,776.6
2,098.9
7,103.8
1,347.0
1,644.2
10,774.4
2,117.1
53 Total credit market debt, domestic and foreign
54
55
56
57
58
59
60
61
Open market paper
U.S. government securities .
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances . .
Mortgages
Consumer credit
1,614.0
7,704.8
1,480.9
4,788.3'
1,496.6
1,420.5
6,811.3'
1,731.3'
1. Data in this table appear in the Board's Z.I (780) 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
Q3
Q4
Q1
Q2
Q3
Q4'
Q1
CREDIT MARKET DEBT OUTSTANDING2
1 Total credit market assets
Domestic nonfederal nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Bank personal trusts and estates
Life insurance companies
Other insurance companies
Private pension funds
State and local government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Government-sponsored enterprises
Federally related mortgage pools
Asset-backed securities (ABSs) issuers
Finance companies
Mortgage companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
27,047.6' 29,003.9' 31,165.6"
33,864.9' 33,097.7'
33,864.9'
34,472.8" 35,055.5"
35,806.0' 36,674.8
37,310.7
3,333.6'
2,198.7'
249.0'
63.2
822.6
272.6
2,590.8
20,850.7'
511.8
5,006.3
4,419.5
511.3
20.5
55.0
.,088.8
379.7
222.8
.,943.9
509.4
624.0
752.8
1,290.9
1,097.7
105.3
1,794.4
2,493.2
1,517.9'
851.2
32.1
37.5
223.6
332.2
3,413.4' 3,281.4'
2,075.6' 1,936.9'
273.9'
289.0'
72.6
71.6
991.4'
983.9'
285.6
286.7
3,898.1
3,772.2
26,267.7' 25,757.3'
666.7
656.1
5,960.8
5,831.8
5,361.7
5,230.3
485.8
490.3
36.4
36.4
74.9
76.9
1,293.3
1,261.5
514.5
517.7
193.2
193.7
2,488.3
2,471.6
625.2
601.9
677.2
665.4'
706.7
696.7
1,398.5
1,436.8
1,505.7
1,478.5
153.3
149.3
2,559.7
2,549.7
3,371.3
3,489.1
2,181.7' 2,131.8'
951.8
924.2
32.1
32.1
95.2
85.7
424.1
375.0
257.1'
281.9'
3,413.4'
2,075.6'
273.9'
72.6
991.4'
285.6
3,898.1
26,267.7'
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,293.3
514.5
193.2
2,488.3
625.2
677.2
706.7
1,398.5
1,505.7
153.3
2,559.7
3,489.1
2,181.7'
951.8
32.1
95.2
424.1
281.9'
3,294.4'
1,935.8'
274.2'
73.3
1,011.1'
286.8
4,128.4
26,763.3'
674.1
6,135.3
5,525.9
492.9
36.7
79.9
1,370.8
524.2
193.4
2,546.1
651.5
688.4'
708.3
1,341.5'
1,552.2
155.8
2,555.7'
3,510.2
2,220.8'
989.2
32.1
118.8
405.0'
319.8'
3,370.2'
1,987.4'
276.3'
74.1
1,032.3'
283.8
4,328.4
27,073.2'
687.4
6,270.2
5,665.7
484.0
36.1
84.5
1,408.6
541.5
193.7
2,590.5
667.8
694.2
718.5
1,271.3
1,557.6
161.2
2,603.8'
3,523.5
2,303.8'
1,009.9
32.1
125.8
325.5'
313.6'
3,427.4'
2,026.9'
279.2'
74.7
1,046.6'
289.9'
4,483.8'
27,605.0'
700.3
6,336.9
5,734.3
478.6
36.9
87.1
1,453.0
547.7'
193.9
2,638.9
686.2
705.4'
708.2
1,247.1
1,586.6
161.3
2,640.2'
3,543.6'
2,396.2'
1,033.5
32.1
156.7'
453.5
307.6'
3,588.4
2,124.8
287.0
75.4
1,101.3
289.3
4,877.4
28,555.6
717.3
6,751.7
6,062.3
562.2
33.4
93.8
1,523.4
565.0
194.4
2,733.0
722.1
714.0
706.4
1,212.2
1,669.9
166.8
2,569.1
3,547.5
2,599.0
1,084.4
32.1
181.8
442.6
343.0
34,472.8'
35,055.5'
35,806.0' 36,674.8
3,276.5'
2,024.9'
251.4'
69.7
930.5
278.6
2,916.9
22,531.9'
551.7
5,210.5
4,610.1
510.7
24.7
65.0
1,133.4
421.2
194.7
2,074.8
518.4
637.3
711.7
1,536.9
1,223.8
108.5
2,099.1
2,831.8
1,747.9
846.4
32.1
46.2
316.0
244.5
3,192.9'
1,898.4'
273.7'
69.3
951.5'
288.2
3,394.8
24,289.7'
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,167.0
463.9
195.6
2,307.8
558.3
663.0
697.7
1,511.6
1,368.0
117.1
2,323.2
3,158.6
1,949.8'
867.6
32.1
71.7
344.4
186.5'
3,610.3
2,172.1
293.4
75.1
1,069.7
289.4
4,674.8
28,100.3
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,514.7
556.5
195.0
2,690.7
702.5
712.1
705.7
1,260.8
1,622.9
164.5
2,599.4
3,542.5
2,490.7
1,080.4
32.1
176.2
394.9
320.8
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
Other liabilities
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank liabilities
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Trade payables
Taxes payable
Investment in bank personal trusts
Miscellaneous
33,097.7'
46.1
2.2
23.2
803.4
221.3'
1,413.1
2,860.4
1,052.6
1,812.1
1,197.3
4,435.3
822.7
819.1
8,831.3
2,747.7
204.8
1,095.8
10,543.6'
46.8
2.2
24.5
810.1
191.4
1,603.2
3,127.6
1,121.1
2,240.7
1,233.7
4,135.5
825.9
880.0
8,330.2
2,667.3'
219.2
960.7
11,330.2'
55.8
2.2
25.5
831.1
206.0'
1,646.7
3,398.5
1,171.3
2,223.9
1,340.3
3,638.4
738.8
920.9
7,611.7'
2,738.1'
241.4
840.9
11,961.1'
62.3
61.3
2.2
2.2
26.0
26.0
831.1
799.1
203.5
163.7
1,780.6
1,707.2
3,627.9
3,600.9
1,233.2
1,221.8
2,016.0
2,057.3
1,567.5
1,452.4
4,653.2
4,242.6
871.3
940.2
1,013.2
973.0
8,836.7' 8,298.3'
2,874.5' 2,821.8'
250.2'
264.4
932.4
885.0
12,537.5' 12,363.8'
62.3
2.2
26.0
831.1
203.5
1,780.6
3,627.9
1,233.2
2,016.0
1,567.5
4,653.2
871.3
1,013.2
8,836.7'
2,874.5'
250.2'
932.4
12,537.5'
61.5
2.2
26.2
864.2
117.8
1,791.8
3,721.5
1,332.2
1,968.9'
1,618.4'
4,900.8
952.8'
1,034.3
9,007.6'
2,933.3'
264.3'
936.9
12,811.9'
58.9
2.2
26.5
867.9
135.8'
1,847.9
3,793.9
1,379.3
1,912.3
1,569.2'
4,959.4
987.2'
1,052.7
9,100.9'
3,010.0'
269.7'
935.4
12,884.4'
58.7
2.2
26.7
897.7'
102.6
1,857.4
3,831.0
1,437.2
1,866.3
1,673.5
4,981.3
985.5
1,069.6
9,087.9'
3,081.9'
281.9'
919.2
13,023.2'
62.2
2.2
26.7
952.3
130.3
1,929.9
3,877.3
1,505.6
1,879.9
1,650.3
5,436.0
1,037.9
1,099.3
9,612.9
3,155.8
275.4
957.6
12,966.2
1,924.6
3,941.0
1,575.3
1,840.6
1,787.7
5,443.0
1,042.2
1,113.6
9,414.0
3,205.8
289.3
940.1
13,360.6
53 Total liabilities
65,979.5'
68,754.2'
70,758.3'
77,184.3' 74,978.7'
77,184.3'
78,819.6'
79,849.2'
80,989.8'
83,232.6
84,363.2
Financial assets not included in liabilities (+)
54 Gold and special drawing rights
55 Corporate equities
56 Household equity in noncorporate business . .
21.6
17,627.0
4,883.8'
15,310.6
4,990.9'
23.2
11,871.0
5,154.6'
23.7
23.1
15,497.0 13,755.1
5,516.5' 5,389.4'
23.7
15,497.0
5,516.5'
23.7
15,832.8
5,593.0'
23.7
15,994.1'
5,714.0'
23.8
15,664.0'
5,864.9'
24.6
17,254.5
6,004.4
22.6
16,811.4
6,148.4
-8.5
624.7
-4.3
396.6
120.0
-3,604.4'
-8.6
611.9
11.1
348.1
93.4
-3,647.3'
-9.1
623.0'
15.5'
368.1'
120.7
-3,518.1'
-9.5
-9.3
654.6'
617.9'
12.6
18.1
351.4'
312.7'
73.9'
91.4
-3,422.1' -3,327.4'
-9.5
654.6'
12.6
351.4'
73.9'
-3,422.1'
-9.6
664.9'
16.5
309.7'
62.5'
-3,528.8'
-9.5
653.1'
27.4'
256.9'
81.3'
-3,392.8'
-9.6
691.3'
20.4'
289.4'
91.6'
-3,327.9'
-9.7
716.2
27.3
204.8
98.6
-3,602.0
-9.7
738.4
35.0
337.3
94.6
-3,661.0
-2.3
22.0
132.7'
-12.3
21.6
151.1'
-11.7
20.9
298.3'
-17.9
20.8
327.7'
1.1
17.4
301.1'
21.5
261.2'
3.1
14.7
278.3'
11.2
23.6
345.8
4.9
20.9
307.6
90,835.2'
91,508.6'
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
57
58
59
60
61
62
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
63 Federal government checkable deposits . .
64 Other checkable deposits
65 Trade credit
66 Totals Identified to sectors as assets .
-17.9
20.8
327.7'
-15.9
12.7
246.7'
56.3
26.9
977.3
111.8
89,899.6' 100,229.9' 96,199.3' 100,229.9' 102,434.3' 103,682.0' 104,491.2' 108,700.2 109,477.6
1. Data in this table also appear in the Board's Z.I (780) 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 • June 2005
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2004
2004
2005
2005
2004
2005
Series
Q2
Q3
Q4
Ql'
Q2
Q3
Q4
Ql'
Capacity (percent of 1997 output)
Output (1997=100)
Q2
Q3
Q4
Ql'
Capacity utilization rate (percent)2
1 Total industry
115.1
115.9
117.2
118.2
147.8
148.2
148.7
149.1
77.9
78.2
78.8
79.3
2 Manufacturing
3
Manufacturing (NAICS)
116.8
117.6
117.9
118.8
119.3
120.2
120.4
121.2
152.6
154.9
153.1
155.4
153.6
155.9
154.1
156.4
76.5
75.9
77.0
76.4
77.6
77.1
78.1
77.5
4
5
132.1
91.0
134.0
93.6
136.1
94.2
137.9
92.2
179.1
114.6
180.1
114.3
181.1
114.0
182.3
114.0
73.8
79.4
74.4
81.9
75.2
82.6
75.6
80.9
96.6
96.0
284.1
97.2
97.7
295.5
97.1
98.8
304.2
97.0
100.4
320.3
138.7
125.9
407.1
138.7
126.0
417.0
138.6
126.1
427.6
138.6
126.1
438.8
69.6
76.3
69.8
70.1
77.5
70.9
70.1
78.4
71.1
70.0
79.6
73.0
93.4
123.0
95.9
122.7
95.8
127.4
94.8
128.2
120.1
153.0
119.7
153.7
119.3
154.3
118.8
155.4
77.8
80.4
80.1
79.8
80.2
82.6
79.8
82.5
99.5
100.1
104.0
75.3
100.6
100.5
104.5
76.2
101.9
101.3
105.5
75.2
103.9
101.6
105.9
75.6
154.8
126.9
129.1
102.9
155.1
126.9
129.2
101.9
155.5
126.8
129.3
100.9
156.1
126.7
129.4
99.8
64.3
78.9
80.6
73.2
64.9
79.3
80.9
74.8
65.5
79.8
81.6
74.5
66.6
80.1
81.9
75.8
95.0
108.6
110.2
104.7
103.8
95.7
110.3
111.0
104.2
104.7
95.5
111.9
112.3
104.3
104.8
96.5
112.1
112.4
104.7
107.7
110.3
121.9
146.0
125.6
119.3
110.3
122.3
146.4
125.3
119.4
110.2
122.5
146.7
125.0
119.7
110.2
122.7
146.8
124.6
119.9
86.1
89.1
75.4
83.4
87.0
86.8
90.2
75.9
83.2
87.6
86.6
91.3
76.6
83.5
87.6
87.6
91.4
76.6
84.0
89.8
20 Mining
21 Electric and gas utilities
91.7
114.4
91.2
113.1
90.4
115.9
92.2
115.0
105.8
134.5
105.7
135.1
105.6
135.7
105.4
136.2
86.6
85.1
86.3
83.7
85.6
85.4
87.5
84.4
MEMOS
22 Computers, communications equipment, and
semiconductors
400.4
415.2
429.5
458.5
574.5
593.8
615.3
637.7
69.7
69.9
69.8
71.9
23 Total excluding computers, communications
equipment, and semiconductors
103.1
103.6
104.6
105.2
131.2
131.3
131.4
131.5
78.6
78.9
79.6
80.0
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
102.6
103.5
104.5
105.1
132.9
133.0
133.0
133.1
77.2
77.8
78.5
79.0
6
8
9
10
11
12
13
14
15
16
17
18
19
Durable manufacturing
Primary metal
Fabricated metal products
Computer and electronic products
Electrical equipment, appliances,
and components
Motor vehicles and parts
Aerospace and miscellaneous
transportation equipment
Nondurable manufacturing
Food, beverage, and tobacco products . . . .
Textile and product mills
Paper
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Selected Measures
2.12
41
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION' —CONTINUED
Seasonally adjusted
1973
1975
Previous cycle2
High
Low
High
Latest cycle3
2004
2004
May
Dec.
2005
Series
Low
High
Low
Jan.
Feb.'
Mar.'
Apr.'
May'
Capacity ut lization rate (percent)4
1 Total Industry
88.7
73.9
86.6
70.8
85.1
78.6
78.2
79.2
79.1 r
79.4
79.4
79.1
79.4
2 Manufacturing
3
Manufacturing (NAICS)
88.1
88.2
71.4
71.2
86.3
86.4
68.5
67.9
85.6
85.5
77.2
77.0
76.7
76.1
77.9
77.3
78.1'
77.4
78.3
77.7
78.0
77.4
77.9
77.2
78.2
77.5
89.1
100.9
69.3
69.2
86.9
91.2
62.9
47.2
84.5
94.3
73.4
74.6
74.0
79.3
75.4
81.8
75.5
81.8
75.9
80.1
75.5
80.8
75.3
77.5
75.6
78.2
91.7
94.3
70.0
73.9
83.1
93.0
62.0
58.6
80.2
84.8
71.6
73.0
69.6
76.6
70.1
78.5
70.1'
79.5'
70.1
79.5
69.9
79.8
70.0
81.4
70.5
81.8
87.0
66.1
89.3
76.2
81.7
76.6
70.0
71.4
72.7'
73.1
73.2
73.7
74.6
99.3
95.4
68.4
54.7
92.0
96.1
64.4
45.2
87.5
90.3
75.1
56.0
77.4
80.5
81.4
82.9
80.5'
81.4'
79.2
84.6
79.6
81.6
79.7
79.7
80.5
79.5
74.2
87.5
65.3
72.3
84.2
85.7
69.3
75.6
88.7
87.1
82.1
81.7
64.4
79.1
65.9
80.0
65.9'
80.2'
66.8
80.2
66.9
80.0
68.1
79.9
68.5
80.2
86.2
89.4
77.6
62.2
84.4
90.4
80.6
72.4
85.6
91.5
81.0
77.2
81.0
73.7
81.7
73.6
82.2'
75.8'
81.7
75.7
81.7
75.8
81.4
75.3
82.0
76.3
97.3
92.6
85.2
96.0
86.0
74.4
81.1
68.9
61.5
75.4
95.4
92.0
83.1
90.2
88.5
81.3
71.0
68.0
70.8
86.1
93.7
88.9
85.7
91.1
90.5
85.2
82.9
80.9
77.1
80.4
86.3
88.9
75.5
83.6
87.6
86.6
92.6
76.8
83.5
88.6
88.2'
90.3
76.2
84.5
90.0'
87.1
93.0
76.9
83.8
89.3
87.3
90.9
76.7
83.6
90.2
86.2
91.9
76.5
83.7
90.4
86.8
92.2
76.6
83.5
91.3
20 Mining
21 Electric and gas utilities
93.6
96.4
87.6
82.8
94.0
88.2
78.6
77.7
85.8
92.8
83.5
84.2
86.6
86.4
86.7
87.2
86.1'
83.8'
88.3
83.3
88.2
86.2
88.3
84.1
88.5
83.4
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.5
89.1
74.1
81.0
74.3
70.0
70.1
71.9'
72.0
71.8
72.0
72.9
23 Total excluding computers,
communications equipment,
and semiconductors
89.0
74.2
86.7
70.6
85.5
78.8
78.8
80.1
79.8'
80.1
80.2
79.9
80.1
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.2
71.7
86.4
68.2
86.0
77.3
77.4
78.8
78.9
79.1
78.9
78.7
79.1
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 the G.17 statistical release cover output, capacity, and capacity
utilization in the industrial sector, which the Federal Reserve defines as manufacturing,
mining, and electric and gas utilities. Manufacturing consists of those industries included in
the North American Industry Classification System, or NAICS, manufacturing plus those
industries—logging and newspaper, periodical, book, and directory publishing—that have
traditionally been considered manufacturing and included in the industrial sector.
1. Data in this table also appear in the Board's G.17 (419) monthly statistical release on the
Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in Dtlecember 2004.
The recent annual revision is described in the Winter 2005 issue of the 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 • June 2005
INDUSTRIAL PRODUCTION
Indexes and Gross Value'
Monthly data seasonally adjusted
Group
2002
proportion
Aug.
Sept.
Oct.
Nov.
Dec.
Apr.'
Index (1997=100)
MAJOR MARKETS
115.5
115.1
115.9
116.0
115.7
116.6
116.9
117.9
117.8
118.3
118.5
118.2
18.1
9.7
1.0
4.9
2.0
3.9
124.9
134.8
231.6
113.6
102.7
106.2
104.4
103.6
49.0
125.3
109.3
114.7
113.0
111.3
124.8
133.8
236.1
114.5
103.2
106.2
104.7
103.9
50.1
125.1
109.8
113.9
112.5
110.2
123.1
130.6
231.9
113.7
103.5
105.3
104.0
103.3
49.3
124.4
108.9
112.0
113.5
110.8
123.0
130.9
213.7
113.7
104.1
106.1
104.7
104.1
48.1
125.4
109.4
113.3
113.6
111.4
125.4
135.3
225.2
114.4
103.6
106.1
105.1
103.9
47.5
126.9
111.5
111.2
113.3
110.7
123.5
133.1
221.2
112.8
102.3
105.8
104.7
104.0
47.8
125.7
109.7
111.5
114.6
112.3
126.2
137.8
234.9
113.3
102.4
107.0
105.9
104.9
47.6
128.3
110.5
112.7
114.6
112.3
125.7
136.8
225.2
114.0
102.5
107.2
105.8
105.1
48.0
126.9
111.5
114.2
115.6
113.1
126.1
137.9
210.1
114.7
102.5
108.2
106.2
105.2
47.4
127.5
113.5
118.1
115.5
112.4
124.3
134.3
217.0
113.9
102.7
107.8
106.7
105.5
47.1
127.5
115.9
113.4
116.1
113.3
128.1
141.1
230.5
114.4
102.7
107.7
106.7
104.7
46.5
130.0
115.1
113.1
116.4
113.3
126.1
137.7
223.7
115.4
101.8
108.5
106.7
104.7
45.9
129.9
116.1
116.9
116.1
112.3
124.0
134.5
222.3
112.6
101.8
107.8
106.6
104.4
46.4
129.5
116.5
114.0
116.7
112.9
125.1
136.1
229.2
114.9
101.1
108.2
107.1
105.3
45.4
129.5
117.5
113.8
1 Total IP
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Market groups
Final products and nonindustrial supplies . .
Consumer goods
Durable
Automotive products
Home electronics
Appliances, furniture, carpeting . . .
Miscellaneous goods
Nondurable
Non-energy
Foods and tobacco
Clothing
Chemical products
Paper products
Energy
58.8
30.9
8.9
4.6
0.3
1.5
2.4
113.2
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.3
1.9
3.0
5.3
1.8
119.2
89.9
174.8
99.6
111.2
118.2
88.8
171.0
99.6
111.1
118.7
88.9
172.8
99.7
110.7
121.9
90.7
176.7
103.0
112.8
120.7
90.5
177.7
100.7
112.7
121.1
90.7
179.3
100.9
113.5
122.7
93.5
180.8
101.8
113.8
122.1
92.8
182.3
100.7
114.5
123.7
94.0
185.3
101.9
115.1
125.2
95.6
188.6
102.6
115.6
125.4
97.2
189.9
101.9
117.4
125.5
95.4
191.1
102.4
118.2
126.8
95.7
193.2
103.6
120.6
127.8
95.7
196.9
104.0
122.0
21
22
Construction supplies
Business supplies
4.3
11.2
106.9
114.8
107.3
114.9
107.0
114.7
107.9
114.9
108.3
114.8
107.6
114.9
108.3
115.3
107.8
115.9
107.8
117.2
108.5
117.1
109.6
117.0
109.5
117.9
109.9
117.8
110.2
117.9
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
41.2
30.9
19.3
4.1
6.7
8.5
11.7
0.8
2.8
4.5
10.3
118.7
124.6
142.1
109.6
235.1
98.0
97.5
67.5
93.2
104.3
99.3
118.9
124.3
141.5
109.1
233.5
97.9
97.4
66.4
93.0
104.0
100.8
118.8
124.6
141.9
108.0
236.0
98.1
97.6
67.0
93.7
104.7
99.6
119.2
125.2
142.6
106.5
239.6
98.7
98.2
67.7
94.3
105.2
99.6
119.3
125.8
143.6
109.2
240.0
98.9
98.3
68.0
93.5
106.0
98.6
118.9
125.5
143.3
108.5
241.5
98.3
97.8
67.6
94.2
104.9
98.2
119.4
126.4
144.8
110.7
243.9
98.9
98.1
67.1
93.3
105.1
97.6
120.1
127.1
145.8
110.6
247.2
99.5
98.4
67.0
94.0
106.4
98.2
121.0
127.5
146.2
110.9
250.4
99.1
98.8
67.1
94.4
107.1
100.1
120.8
128.1
147.2
110.6
255.2
99.2
98.7
67.3
94.7
104.5
98.4
121.2
128.2
147.6
112.8
256.9
98.4
98.5
66.1
94.5
105.3
99.4
121.4
128.0
147.6
110.9
258.2
98.7
98.2
65.3
94.7
104.6
100.2
120.9
127.6
147.2
109.6
262.7
97.3
97.9
64.9
93.4
104.5
99.6
121.3
128.3
148.0
108.7
265.6
98.1
98.3
65.5
94.4
104.6
99.5
94.9
92.6
103.4
114.8
103.4
114.9
103.0
114.7
103.7
115.6
103.7
115.4
103.4
115.1
104.2
115.8
104.4
116.2
105.2
117.1
104.9
117.1
105.3
117.3
105.5
117.8
105.1
117.6
105.4
118.1
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 .
Nonindustrial supplies .
2,859.0
43.3
30.9
12.4
15.5
2,838.3
2,856.4
2,895.7
2,926.8
2,938.6
2,163.9 2,156.6 2,144.( 2,169.2 2,172.6 2,160.7 2,195.3 2,192.2 2,216.3 2,210.3 2,229.5 2,226.9 2,213.7 2,226.1
1,542.9 1,541.3 1,527.; 1,534.7 1,545.1 1,530.2 1,555.1 1,554.0 1,571.2 1,557.0 1,575.1 1,573.5 1,555.0 1,563.9
664.2
667.7
623.2
617.0
619.1
638.1
630.2
634.0
643.6
641.5
648.4
658.1
658.5
657.5
695.3
696.2
694.4
697.8
696.1
695.8
699.9
703.7
708.4
705.9
709.5
711.4
713.2
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2004
2005
2004
avg.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.r
Feb.'
Mar.'
Apr.'
Mayp
Index (1997=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
83.8
79.0
117.2
118.1
117.1
117.9
116.9
117.8
117.8
118.7
118.3
119.0
117.7
118.6
119.0
120.0
119.1
120.0
119.7
120.6
120.2
120.9
120.6
121.5
120.4
121.2
120.3
121.1
121.0
121.7
321
43.7
1.5
133.0
104.6
132.4
106.4
132.3
103.8
133.7
106.3
134.4
104.7
134.1
102.8
135.7
106.2
135.9
104.2
136.8
104.1
137.3
105.4
138.4
101.8
138.0
102.2
138.0
100.9
139.0
102.6
327
331
332
333
2.3
2.4
5.8
5.4
105.6
92.3
96.5
96.4
104.5
90.8
96.6
96.5
104.7
92.1
96.9
96.4
105.5
93.4
97.1
99.1
106.9
93.2
97.6
96.6
106.4
94.2
96.9
97.3
106.5
94.3
97.2
98.6
106.7
95.2
97.0
98.7
108.8
93.1
97.2
99.0
108.0
93.2
97.2
100.2
109.8
91.3
97.1
100.3
108.4
92.2
96.8
100.6
108.5
88.5
96.9
102.6
108.4
89.3
97.5
103.0
334
8.0
288.2
285.1
288.7
292.9
295.4
298.0
301.0
303.5
308.0
316.2
320.9
323.8
328.8
335.7
335
3361-3
2.2
7.4
94.4
124.5
92.9
123.1
94.2
121.0
95.4
120.5
96.3
124.5
96.1
123.1
94.9
127.4
95.3
126.7
97.1
128.2
95.9
126.0
94.0
131.4
94.4
127.3
94.3
124.7
94.9
124.8
3364-9
3.6
99.9
99.7
99.3
100.8
100.8
100.3
101.3
101.7
102.6
102.7
104.3
104.7
106.6
107.6
337
339
1.8
3.3
108.9
121.3
110.3
121.8
109.5
121.1
109.6
121.7
109.7
122.1
108.1
120.9
108.7
122.4
108.5
122.9
109.4
123.1
108.3
124.2
107.2
124.7
108.0
124.3
106.5
124.5
106.3
123.4
35.3
100.2
100.3
100.2
100.7
100.7
100.2
101.2
101.2
101.4
101.6
101.6
101.4
101.1
101.5
311,2
313,4
315,6
322
323
11.3
1.3
1.0
3.2
2.5
104.2
75.8
49.5
94.8
87.8
104.6
75.8
50.6
95.2
87.1
103.9
75.3
49.9
95.2
87.9
104.6
76.8
48.8
96.5
87.0
104.4
76.4
48.1
95.2
86.9
104.5
75.5
48.5
95.2
88.8
105.6
76.5
48.2
95.8
87.8
105.4
75.1
48.7
95.2
88.0
105.6
74.0
48.1
95.5
87.8
106.3
76.0
47.6
97.2
88.4
105.7
75.5
47.1
96.0
88.0
105.8
75.3
46.4
96.3
88.4
105.4
74.5
46.9
95.0
88.1
106.2
75.1
46.0
95.7
89.2
324
325
1.6
10.6
109.7
110.3
108.4
110.3
109.7
110.3
111.2
110.9
111.6
111.8
108.0
110.5
110.1
112.1
112.0
112.2
113.6
112.7
110.7
111.8
114.1
112.9
111.5
112.6
112.8
112.3
113.2
112.4
326
3.8
104.0
105.0
104.9
105.0
104.4
103.2
104.6
104.1
104.3
105.5
104.5
104.1
104.0
103.5
1133,5111
4.8
103.4
104.5
103.5
104.0
105.9
104.0
103.8
104.4
106.1
107.8
107.1
108.2
108.4
109.5
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
91.4
115.0
117.7
98.1
91.6
116.2
120.3
95.5
91.2
113.8
117.4
95.1
92.3
113.3
116.4
97.1
91.9
111.1
113.4
98.5
89.4
114.8
117.9
98.1
89.0
114.3
118.5
93.4
90.6
114.9
118.2
97.3
91.4
118.5
121.7
101.4
90.8
114.0
117.2
97.3
93.0
113.4
116.9
95.1
92.9
117.5
120.5
101.1
92.9
114.7
117.9
97.6
93.1
113.8
116.4
99.4
78.7
102.9
102.9
102.6
103.4
103.7
103.2
104.3
104.3
104.8
105.0
105.3
105.0
104.9
105.3
76.4
116.5
116.5
116.5
117.6
117.7
117.2
118.2
118.4
118.9
119.6
119.6
119.8
119.9
120.6
NOTE. The statistics in the G.17 statistical release cover output, capacity, and capacity
utilization in the industrial sector, which the Federal Reserve defines as manufacturing,
mining, and electric and gas utilities. Manufacturing consists of those industries included in
the North American Industry Classification System, or NAICS, manufacturing plus those
industries—logging and newspaper, periodical, book, and directory publishing—that have
traditionally been considered manufacturing and included in the industrial sector.
1. Data in this table appear in the Board's G.17 (419) monthly statistical release, on the
Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in December 2004.
The recent annual revision is described in the Winter 2005 issue of the Bulletin.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • June 2005
3.10
U.S. INTERNATIONAL TRANSACTIONS
Summary
Millions of dollars; quarterly data seasonally adjusted except as noted1
Item credits or debits
1 Balance on current account
2
Balance on goods and services
3
Exports
4
Imports
5
Income, net
6
Investment, net
7
Direct
8
Portfolio
9
Compensation of employees
10
Unilateral current transfers, net
-475,211
-421,181
977,276
-1,398,457
10,016
15,453
99,770
-84,317
-5,437
-64,046
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
-519,679
-494,814
1,022,567
-1,517,381
46,304
51,834
121,842
-70,008
-5,530
-71,169
-668,074
-617,583
1,151,448
-1,769,031
30,439
36,234
127,921
-91,687
-5,795
-80,930
Ql'
Q2'
Q3'
Q4'
-146,101
-138,852
277,093
-415,945
15,022
16,438
35,082
-18,644
-1,416
-22,271
-166,635
-152,042
285,099
-437,141
5,922
7,407
29,080
-21,673
-1,485
-20,515
-166,982
-157,465
290,370
-447,835
6,254
7,694
30,343
-22,649
-1,440
-15,771
-188,359
-169,221
298,887
-468,108
3,236
4,691
33,413
-28,722
-1,455
-22,374
-195,052
-171,757
307,689
-479,446
3,777
5,182
31,288
-26,106
-1,405
-27,072
345
501
4,543
-3,681
0
-475
-2,632
-574
601
1,494
-572
-398
3,826
-623
-100
815
-158
-90
1,345
-133
-98
676
-149
697
0
-110
990
-183
5,331
0
1,713
3,763
-145
-290,691
-38,260
-49,403
-48,568
-154,460
-330,457
-9,574
-24,240
-156,064
-140,579
-859,529
-356,133
-149,001
-102,383
-252,012
-296,424
-173,073
-55,452
-15,532
-52,367
-135,006
-41,010
-5,390
-30,181
-58,425
-137,943
-44,787
-13,490
-38,444
-41,222
-290,155
-97,263
-74,669
-18,226
-99,997
-70,560
62,253
-65,757
-34,808
-32,248
22 Change in foreign official assets in United States (increase, +)
23
U.S. Treasury securities
24
Other U.S. government obligations
25
Other U.S. government liabilities2
26
Other U.S. liabilities reported by U.S. banks2
27
Other foreign official assets3
115,945
60,466
30,505
137
21,221
3,616
278,275
184,931
39,943
-517
48,643
5,275
394,710
272,648
38,485
488
70,329
12,760
147,401
112,586
11,424
-109
22,058
1,442
77,039
62,977
479
45
11,350
2,188
75,792
55,357
11,542
710
4,867
3,316
94,478
41,728
15,040
-158
32,054
5,814
24,730
15,240
24,927
-675
-17,281
2,519
28 Change in foreign private assets in United States (increase, +)
29
U.S. bank-reported liabilities4
30
U.S. nonbank-reported liabilities
31
Foreign private purchases of U.S. Treasury securities, net
32
U.S. currency flows
33 Foreign purchases of other U.S. securities, net
34 Foreign direct investments in United States, net
678,398
96,410
95,932
100,403
21,513
283,299
80,841
610,768
96,675
99,676
104,380
16,640
226,306
67,091
1,045,395
322,627
124,358
106,958
14,827
369,793
106,832
275,622
146,889
44,623
31,931
-1,800
45,476
8,503
227,898
42,116
3,887
60,424
8,754
81,678
31,039
178,436
42,164
14,752
-1,107
2,560
84,401
35,666
363,437
91,458
61,096
15,710
5,313
158,238
31,622
201,348
-78,253
85,969
75,546
1,072
88,207
28,807
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
-1,363
-23,742
-3,214
-37,753
-1,648
85,126
-428
18,646
11,010
7,636
-372
-4,044
-3,747
-297
-393
50,672
-12,977
63,649
-455
19,856
5,718
14,138
-4,456
34,116
13,930
20,186
12 Change in U.S. official reserve assets (increase, - )
13
Gold
14
Special drawing rights (SDRs)
15
Reserve position in International Monetary Fund
16 Foreign currencies
17 Change in U.S. private assets abroad (increase, - )
18
Bank-reported claims2
19
Nonbank-reported claims
20
U.S. purchase of foreign securities, net
21
U.S. direct investments abroad, net
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
41 Change in Organization of Petroleum Exporting Countries official
assets in United States (part of line 22)
-3,681
1,523
2,805
557
1,122
429
697
5,331
115,808
278,792
394,222
147,510
76,994
75,082
94,636
25,405
-8,132
1. Seasonal factors are not calculated for lines 11-16, 18-20, 22-35, and 38-41.
2. Associated primarily with military sales contracts and other transactions arranged with
or through foreign official agencies.
3. Consists of investments in U.S. corporate stocks and in debt securities of private
corporations and state and local governments.
4. Reporting banks included all types of depository institutions as well as some brokers
and dealers.
3.12
5. Consists of capital transfers (such as those of accompanying migrants entering or
leaving the country and debt forgiveness) and the acquisition and disposal of nonproduced
nonfinancial assets.
SOURCE. U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current
Business.
U.S. RESERVE ASSETS
Millions of dollars, end of period
2004
Asset
2001
2002
2005
2003
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May'
1 Total
68,654
79,006
85,938
84,232
86,702
86,824
81,366
80,168
78,942
79,526
77,743
2 Gold stock1
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,045
10,774
11,043
12,166
11,043
12,638
11,043
13,041
11,043
13,478
11,045
13,582
11,042
13,342
11,042
11,727
11,041
11,564
11,041
11,610
11,041
11,385
17,854
28,981
21,979
33,818
22,535
39,722
19,530
40,618
20,079
42,102
19,479
42,718
15,247
41,735
15,336
42,063
15,276
41,061
15,422
41,452
15,406
39,910
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
2004
Asset
2001
2002
Oct.
1 Deposits
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May'
61
136
162
91
88
80
121
86
139
126
105
592.630
9,099
678.106
9,045
845.080
8,971
1.028.945
8,967
1.044.531
8,967
1.041.215
8,967
1.039.348
8,967
1.058.929
8,967
1.062.861
8,967
1.057.109
8,967
1,065,032
8,967
NOTE. The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at: www. federalreserve.gov/releases.
1. Excludes deposits and U.S. Treasury securities held for international and regional
organizations.
3.15
2005
2003
2. Marketable U.S. Treasury bills, notes, and bonds and nonmarketable U.S. Treasury
securities, in each case measured at face (not market) value.
3. Held in foreign and international accounts and valued at $42.22 per fine troy ounce; not
included in the gold stock of the United States.
SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2005
2004
Item
1
1 Total
By type
2 Liabilities reported by banks in the United States2
2002
2003
June""
June""
Dec.'
Jan.
r
Feb.'
Mar.'
Apr.'
1,161,907
1,449,153
1,668,150
1,780,641
1,909,017
1,919,168
1,909,684
1,902,231
1,939,833
144,646
190,444
189,824
212,032
234,550
249,003
234,550
249,003
271.471
244,573
269.107
242,553
247.964
235,530
254.563
235,843
286.355
230,105
569,891
2,769
254,157
723,591
2,613
321,093
848,728
1,569
334,300
910,456
1,569
385,063
986,454
1,630
404,889
994,084
1,640
411,784
1,005,357
1,650
419,183
990,374
1,661
419,790
1,004,355
1,671
417,347
283,512
5,962
87,261
760,012
9,355
15,835
310,748
5,112
72,869
1,033,872
8,887
17,652
338,569
6,578
98,086
1,199,813
10,643
14,448
340,553
7,631
104,967
1,296,438
11,238
19,625
356,763
7,812
112,590
1,388,063
11,736
31,864
361,769
7,638
107,920
1,396,803
12,776
32,073
363,096
7,340
110,119
1,390,789
13,340
24,811
349,828
7,148
111,766
1,389,312
13,560
30,428
365,805
7,085
107,496
1,410,754
14,549
33,955
U.S. Treasury bonds and notes
5
Nonmarketable4
6 U.S. securities other than U.S. Treasury securities5
By area
7 Europe1
9 Latin America and Caribbean
10 Asia
11 Africa
1. Includes the Bank for International Settlements.
2. Principally demand deposits, time deposits, bankers acceptances, commercial paper,
negotiable time certificates of deposit, and borrowings under repurchase agreements.
3. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
4. Excludes notes issued to foreign official nonreserve agencies. Includes current value of
zero-coupon Treasury bond issues to foreign governments as follows: Mexico, beginning
March 1990, 30-year maturity issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
5. Debt securities of U.S. government corporations and federally sponsored agencies, and
U.S. corporate stocks and bonds.
3.16
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
6. Data in the two columns shown for this date reflect different benchmark bases for
foreigners' holdings of selected U.S. long-term securities. Figures in the first column are
comparable to those for earlier dates; figures in the second column are based in part on a
benchmark survey as of end-June 2004 and are comparable to those shown for the following
dates.
SOURCE. Based on U.S. Department of the Treasury data and on data reported to the
Treasury by banks (including Federal Reserve Banks) and securities dealers in the United
States, and in periodic benchmark surveys of foreign portfolio investment in the United
States.
Reported by Banks in the United States1
Millions of dollars, end of period
2004
Item
2001
2002
2005
2003
June'
Sept.'
Dec'
Mar.
2
3
Deposits
Other liabilities
79,363
n.a.
n.a.
80,543
n.a.
n.a.
63,119
36,674
26 ,AAi
80,057
31,266
48,791
85,817
37,222
48,595
83,764
38,757
45,007
80,154
41,312
38,842
5
Deposits
74,640
44,094
30,546
71,724
34,287
37,437
81,669
38,102
43,567
104,278
39,088
65,190
100,247
37,938
62,309
123,528
42,709
80,819
108,168
43,257
64,911
8
Deposits
17,631
n.a.
n.a.
35,923
n.a.
n.a.
21,365
5,064
16,301
21,510
9,948
11,562
25,930
7,688
18,242
31,705
8,514
23,191
32,030
11,835
20,195
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 • June 2005
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Apr.BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners
2,812,297
2,771,880
2,813,283
2,812,297
2,763,940
2,709,466
2,777,030
,363,270
1,677,193
1,000,386
,963,602
2,019,609
>, 000,386 1,921,481
1,958,944
,911,578
1,967,342
175,231
246,623
190,134
622,318
852,803
824,390
460,191
638,413
942,244
1,058,142
647,140
943,501
1,020,101
608,282
976,961
1,042,648
619,219
793,674
882,599
1,028,979
605,436
797,888
927,106
1,040,236
608,558
808,278
926,094
995,387
575,183
799,091
931,617
1,027,327
598,852
811,911
942,244
1,058,142
647,140
811,911
236,796
258,797
319,071
319,211
317,177
311,160
317,177
189,573
202,774
314,727
309,476
299,331
37,761
74,513
195,949
34,394
83,633
176,842
48,584
150,997
180,007
56,954
138,845
179,731
52,309
133,570
175,132
48,584
150,997
180,007
46,502
146,757
173,490
51,602
131,548
189,949
57,024
131,926
185,809
51,864
147,238
183,207
13,467
12,362
5,769
6,593
1,105
14,149
12,577
6,134
6,443
1,572
110
13,315
9,829
6,085
3,744
3,486
1,339
15,590
11,998
6,594
5,404
3,592
1,617
13,580
10,319
6,328
3,991
3,261
1,402
13,315
9 829
6,085
3,744
3,486
1,339
15,773
12,543
5,092
7,451
3,230
1,107
17,848
13,800
5,583
8,217
4,048
1,116
15,497
11,173
5,328
5,845
4,324
586
13,628
11,030
4,910
6,120
2,598
843
16
0
1,462
2,147
0
1,969
6
1,859
2,147
0
2,119
4
2,930
3,736
1,753
2
335,090
93,884
20,733
73,151
401,856
117,737
24,208
93,529
516,044
146,612
27,717
118,895
515,265
139,457
24,124
115,333
503,347
136,192
26,302
109,890
516,044
146,612
27,717
118,895
511,660
150,943
30,776
120,167
483,494
141,412
28,859
112,553
490,406
146,731
32,310
114,421
516,460
165,098
33,272
131,826
241,206
190,444
284,119
212,032
369,432
244,573
375,808
259,509
367,155
255,968
369,432
244,573
360,717
242,553
342,082
235,530
343,675
235,843
351,362
230,105
50,698
64
69,638
2,449
123,153
1,706
115,333
966
110,530
657
123,153
1,706
117,463
701
105,908
644
107,460
372
120,781
476
1,311,267
1,055,858
56,020
58,422
255,409
25,916
1,380,639
1,163,309
706,536
456,773
217,330
18,267
1,485,213
1,269,146
761,990
507,156
216,067
26,331
1,528,499
1,302,492
777,588
524,904
226,007
20,478
1,540,282
1,320,716
804,799
515,917
219,566
20,826
1,485,213
1,269,146
761,990
507,156
216,067
26,331
1,439,713
1,230,412
747,562
482,850
209,301
23,804
1,466,764
1,239,342
750,419
488,923
227,422
25,453
1,420,137
1,197,168
696,346
500,822
222,969
24,945
1,454,286
1,237,503
741,276
496,227
216,783
25,356
57,605
171,888
49,311
149,752
53,319
136,417
57,046
148,483
54,965
143,775
53,319
136,417
53,125
132,372
54,306
147,663
54,214
143,810
50,404
141,023
36 Other foreigners''
37
Banks' own liabilities
38
Deposits2
39
Other
325,764
201,166
92,709
108,457
518,962
383,570
115,925
267,645
797,725
574,799
146,452
428,347
712,526
509,655
135,195
374,460
756,074
552,382
139,532
412,850
797,725
574,799
146,452
428,347
753,426
527,583
142,664
384,919
795,834
564,390
146,756
417,634
783,426
556,506
148,615
407,891
792,656
553,711
147,648
406,063
40
41
42
124,598
19,347
135,392
28,388
222,926
44,934
202,871
37,467
203,692
41,015
222,926
44,934
225,843
43,696
231,444
44,225
226,920
47,361
238,945
41,385
81,254
23,997
82,363
24,641
136,108
41,884
135,128
30,276
131,977
30,700
136,108
41,884
141,734
40,413
145,579
41,640
137,934
41,625
155,854
41,706
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 Nonmonetary international and regional organizations5 . .
13
Banks' own liabilities
14
Deposits2
15
Other
16
Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments'"
Other
19
20 Official institutions9
21
Banks' own liabilities
22
Deposits2
23
Other
24
25
26
27
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments''
Other
28 tanks10
29
Banks' own liabilities
30
Deposits2
31
Other
32
Banks' custody liabilities4
33
U.S. Treasury bills and certificates5 . .
34
Other negotiable and readily
transferable instruments'"
35
Other
43
Banks' custodial liabilities
U.S. Treasury bills and certificates5
Other negotiable and readily
transferable instruments'' . . .
Other
1,985,588
314,441
804,996
306,324
308,735
809,688
297,689
328,792
308,723
MEMO
44 Own foreign offices12
941,416
1. Reporting banks include all types of depository institutions as well as some banks/
financial holding companies and brokers and dealers. Excludes bonds and notes of maturities
longer than one year. Effective February 2003, coverage is expanded to include liabilities of
brokers and dealers to affiliated foreign offices.
2. Non-negotiable deposits and brokerage balances.
3. Data available beginning January 2001.
4. Financial claims on residents of the United States, other than long-term securities, held
by or through reporting banks for foreign customers. Effective February 2003, also includes
loans to U.S. residents in managed foreign offices of U.S. reporting institutions.
5. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
6. Principally bankers acceptances, commercial paper, negotiable time certificates of
deposit, and short-term agency securities.
7. Data available beginning January 2001.
8. Principally the International Bank for Reconstruction and Development, the InterAmerican Development Bank, and the Asian Development Bank. Excludes "holdings of
dollars" of the International Monetary Fund.
9. Foreign central banks, foreign central governments, and the Bank for International
Settlements.
10. Excludes central banks, which are included in "Official institutions." Includes positions with affiliated banking offices also included in memo line (44) above.
11. As of February 2003, includes positions with affiliated non-banking offices also
included in memo line (44) above.
12. For U.S. banks, includes amounts owed to own foreign branches and foreign subsidiaries consolidated in the quarterly Consolidated Reports of Condition filed with bank
regulatory agencies. For agencies, branches, and majority-owned subsidiaries of foreign
banks, consists principally of amounts owed to the head office or parent foreign office, and to
foreign branches, agencies, or wholly owned subsidiaries of the head office or parent foreign
bank. Effective February 2003, includes amounts owed to affiliated foreign offices of U.S.
brokers and dealers.
Bank-Reported Data
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
47
Reported by Banks in the United States1—Continued
Millions of dollars, end of period
Apr.AREA OR COUNTRY
45 Total, all foreigners
1,985,588
2,315,606
2,812,297"" 2,771,880
2,813,283
2,812,297" 2,720,572
2,763,940
2,709,466
2,777,030
46 Foreign countries
1,972,121 2,301,457
2,798,982' 2,756,290
2,799,703
2,798,982' 2,704,799
2,746,092
2,693,969
2,763,402
970,765' 1,006,057
4,277
4,999
13,815
15,361
3,202
4,071
1,418
1,373
55,783
57,243
58,224
50,801
1,205
1,529
7,247
8,112
51,306
50,713
17,146
20,175'
34,755
32,749
1,607
1,174
64,621
70,358
8,483
8,504
6,582
6,217
120,688
99,925
9,114
5,190
433,283
415,208
22,097
20,710
110
141
99,747'
87,559
1,011,392
4,539
13,600
3,613
1,299
57,679
53,398
1,555
8,274
51,961
17,065
25,773
2,029
63,859
10,100
5,946
116,224
7,980
450,760
22,024
101
93,613
954,521
3,685
14,193
4,207
2,666
63,491
47,970
2,025
7,950
51,383
20,535
27,001
3,337
70,222
10,123
5,979
91,210
6,985
403,115
20,939
91
97,414
1,027,957
4,103
13,449
3,584
2,942
64,528
51,979
1,540
7,927
54,077
22,755
23,175
1,647
76,440
9,571
5,184
119,481
3,705
435,771
20,858
100
105,141
990,522
5,129
15,627
3,107
965
57,129
59,406
1,048
8,010
53,082
23,629
26,062
2,227
75,814
6,191
5,703
83,002
4,873
431,703
21,776
187
105,852
1,038,737
5,342
13,986
2,750
2,540
59,246
59,361
2,441
7,996
56,646
25,475
34,806
2,238
73,980
8,108
5,910
90,717
3,662
459,417
20,431
90
103,595
47 Europe
48 Austria
49
Belgium13
50
Denmark
51
Finland
52 France
53
Germany
54
Greece
55
Italy
56 Luxembourg13
57
Netherlands
58
Norway
59 Portugal
60
Russia
61
Spain
62
Sweden
63
Switzerland
64 Turkey
65
United Kingdom
66
Channel Islands and Isle of Man14
67
Yugoslavia15
68
Other Europe and other former U.S.S.R."'
653,988
2,818
9,536
5,106
1,693
40,399
34,650
2,975
5,568
31,945
10,839
18,879
3,574
23,146
14,039
4,647
132,895
12,131
185,970
47,594
301
65,283
781,550
4,826
9,359
3,631
1,783
40,719
46,806
1,264
6,215
35,855
15,857
22,429
952
41,673
9,902
7,082
110,626
13,748
332,528
20,802
162
55,331
970,765'
4,277
13,815
3,202
1,418
57,243
50,801
1,205
7,247
50,713
20,175'
32,749
1,607
70,358
8,483
6,582
99,925
5,190
415,208
20,710
110
99,747'
27,323
35,590
32,993'
34,316
33,124
32,993'
32,382
34,458
31,948
34,192
70 Latin America
71
Argentina
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru
80
Uruguay
81
Venezuela
82
Other Latin America17
107,357
10,878
10,040
6,146
4,158
2,299
1,379
36,109
3,864
1,363
2,815
21,939
6,367
110,566
9,758
16,283
4,438
4,235
2,567
1,547
35,389
4,093
1,401
3,670
21,222
5,963
136,228'
10,817
15,227
7,306'
6,263
2,676
1,526
50,760
4,512
1,968
4,152
24,599
6,422
134,375
11,906
15,966
8,196
5,372
2,507
1,486
47,818
4,128
1,866
4,076
24,513
6,541
136,137
11,025
15,495
8,356
5,380
2,600
1,472
51,029
4,295
1,727
4,187
24,163
6,408
136,228'
10,817
15,227
7,306'
6,263
2,676
1,526
50,760
4,512
1,968
4,152
24,599
6,422
126,016
10,956
17,254
7,358
6,204
2,665
1,492
37,542
4,491
2,299
4,019
25,327
6,409
127,810
9,322
20,864
7,077
6,179
2,586
1,466
37,973
4,659
1,550
3,897
25,507
6,730
133,073
9,414
23,641
6,611
6,304
2,469
1,308
40,668
4,967
1,769
3,951
24,972
6,999
129,084
9,217
19,725
8,317
6,059
2,653
1,361
38,847
4,374
2,478
4,079
24,747
7,227
83 Caribbean
84
Bahamas
85
Bermuda
86
Cayman Islands15
87
Cuba
88 Jamaica
89
Netherlands Antilles
90 Trinidad and Tobago
91
Other Caribbean"
837,666
163,543
24,674
630,446
91
829
5,004
1,405
11,674
969,986
153,554
38,964
739,204
96
669
8,689
1,253
27,557
1,197,819' 1,121,401
146,698
185,258
70,184
93,680'
862,677
870,784'
107
108
872
829
4,627
5,860
1,355
1,624
34,881
39,676
1,163,422
171,301
78,937
864,486
107
873
4,787
1,341
41,590
1,197,819' 1,138,439
177,245
185,258
69,251
93,680'
852,190
870,784'
108
109
815
829
5,860
5,499
1,773
1,624
31,557
39,676
1,135,467
184,441
68,469
840,812
110
776
4,515
1,785
34,559
1,123,949
177,476
56,247
845,967
112
818
5,875
1,953
35,501
1,118,680
182,674
56,271
839,702
114
789
5,555
2,052
31,523
92 Asia
China
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea (South)
Philippines
Thailand
Middle Eastern oil-exporting countries19
Other
319,487
373,024
418,423'
419,675
415,461
418,423'
410,045
384,240
373,119
397,028
15,483
18,693
33,066
7,951
14,123
7,477
161,667
8,968
1,811
7,605
16,365
26,278
13,236
26,808
49,557
14,534
14,373
12,223
162,003
12,647
1,683
7,226
23,626
35,108
53,131
26,583
42,745'
11,270
5,931
11,237
163,567
12,495
2,969
11,441
38,535'
38,519
65,643
21,384
37,202
11,650
7,662
9,659
171,972
10,319
2,109
10,499
38,182
33,394
52,768
24,678
36,532
11,818
6,560
11,057
166,701
12,804
2,343
11,417
41,958
36,825
53,131
26,583
42,745'
11,270
5,931
11,237
163,567
12,495
2,969
11,441
38,535'
38,519
57,775
26,016
36,987
12,339
7,165
11,923
155,157
15,632
2,474
12,305
41,478
30,794
36,486
27,454
38,700
14,312
5,706
12,469
152,006
14,451
2,514
12,150
40,988
27,004
36,036
23,796
37,450
14,521
2,864
10,991
149,179
20,127
2,432
11,182
36,899
27,642
57,251
24,554
40,906
14,561
3,673
9,250
147,345
19,422
2,302
10,971
38,318
28,475
105 Africa
106
Egypt
107
Morocco
108
South Africa
109
Congo (formerly Zaire)
110
Oil-exporting countries20
111
Other
12,251
2,655
306
1,114
4,370
3,804
13,828
2,336
376
3,715
18
3,498
3,885
15,613
2,755
169
3,381
4
5,220
4,084
17,695
2,349
99
4,001
6
7,373
3,867
14,265
2,256
124
3,571
3
4,331
3,980
15,613
2,755
169
3,381
4
5,220
4,084
16,593
4,239
159
3,708
21
4,939
3,527
16,597
4,156
124
3,105
49
5,417
3,746
16,617
4,180
172
3,299
10
5,266
3,690
17,353
3,952
223
3,439
8
6,012
3,719
112 Other countries
113 Australia
114
New Zealand21
115 All other
14,049
11,991
1,796
262
16,913
14,020
2,465
428
27,141
23,199
3,437
505
22,771
19,057
3,035
679
25,902
21,616
3,748
538
27,141
23,199
3,437
505
26,803
22,219
4,105
479
19,563
16,635
2,418
510
24,741
21,726
2,627
28,328
23,810
4,077
441
116 Nonmonetary international and regional organizations
117
International22
118 Latin American regional23
119
Other regional24
13,467
11,282
507
1,611
14,149
10,500
420
3,166
13,315
10,909
345
1,948
15,590
13,431
345
1,731
13,580
11,549
357
1,575
13,315
10,909
345
1,948
15,773
13,423
373
1,863
17,848
15,337
486
1,929
15,497
13,233
13,628
11,137
482
1,943
69 Canada
93
94
95
96
97
98
99
100
101
102
103
104
13. Before January 2001, data for Belgium-Luxembourg were combined.
14. Before January 2001, these data were included in data reported for the United
Kingdom.
15. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
16. Includes the Bank for International Settlements and the European Central Bank.
17. Before January 2001, data for "Other Latin America" and "Other Caribbean" were
combined in "Other Latin America and Caribbean."
18. Beginning January 2001, data for the Cayman Islands replaced data for the British
West Indies.
19. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
20. Comprises Algeria, Gabon, Libya, and Nigeria.
21. Before January 2001, these data were included in "All other."
22. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund.
23. Principally the Inter-American Development Bank.
24. Asian, African, Middle Eastern, and European regional organizations, except the Bank
for International Settlements, which is included in "Other Europe."
48
Federal Reserve Bulletin Statistical Supplement • June 2005
3.18
BANKS' OWN CLAIMS ON FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Area or country
Apr.'
1 Total, all foreigners
1,185,445
1,322,363
1,668,435
1,642,355
1,699,886
1,668,435
1,652,212
1,708,513
1,606,702
1,704,135
2 Foreign countries
1,181,768
1,317,292
1,662,667
1,637,427
1,693,464
1,662,667
1,647,623
1,702,950
1,600,835
1,699,655
487,004
3,603
6,044
1,109
8,518
47,705
22,481
477
3,753
3,407
23,133
13,885
2,226
877
5,371
15,889
126,958
2,112
176,953
17,457
0
5,046
591,018
4,819
6,910
2,814
8,160
63,719
25,811
238
7,310
5,512
21,415
17,666
2,106
1,233
2,295
15,269
78,716
2,149
268,822
43,099
0
12,955
804,920
4,591
7,888
912
11,839
90,066
25,863
94
16,904
5,866
22,102
25,516
1,576
1,089
8,451
17,021
114,167
2,542
403,945
26,878
0
17,610
765,759
4,745
9,800
3,895
8,458
68,591
27,503
185
13,772
6,340
20,412
29,101
1,525
1,188
9,758
15,291
97,686
2,444
387,656
44,831
0
12,578
813,075
4,714
10,233
2,531
9,772
84,113
33,096
174
14,190
6,300
18,971
18,866
1,395
1,119
9,784
17,588
117,757
2,465
414,503
29,409
0
16,095
804,920
4,591
7,888
912
11,839
90,066
25,863
94
16,904
5,866
22,102
25,516
1,576
1,089
8,451
17,021
114,167
2,542
403,945
26,878
0
17,610
783,318
4,831
6,857
698
9,720
94,219
25,916
116
16,129
6,638
17,983
22,080
1,697
1,025
13,218
15,121
104,535
2,649
396,007
24,962
0
18,917
823,474
4,623
12,639
2,500
9,139
90,869
29,800
127
15,409
3,567
17,537
20,452
1,773
1,108
12,623
14,653
119,622
2,487
420,921
25,571
0
18,051
753,598
5,027
12,155
409
12,553
83,606
31,162
88
18,199
3,736
17,316
12,401
1,290
1,162
14,747
14,638
87,231
2,561
387,416
28,860
0
19,041
812,559
5,084
17,335
646
9,989
93,374
36,121
102
22,597
3,741
16,411
21,996
1,347
1,154
15,975
14,412
113,254
2,665
388,098
28,414
0
19,844
25 Canada
60,521
52,140
51,033
46,395
45,224
51,033
49,939
48,117
47,236
46,999
26 Latin America
27
Argentina
28
Brazil
29
Chile
30
Colombia
31
Ecuador
32
Guatemala
33
Mexico
34 Panama
35 Peru
36
Uruguay
37
Venezuela
38
Other Latin America1"
56,642
6,783
15,419
5,250
2,614
457
892
15,658
1,915
1,411
255
3,254
2,734
51,517
3,819
15,825
6,094
2,026
404
781
13,583
1,844
1,370
465
2,911
2,395
49,609
2,275
14,128
6,213
2,648
469
871
13,513
1,939
1,530
403
2,890
2,730
49,514
2,550
15,844
6,029
2,598
437
775
12,835
1,616
1,568
384
2,539
2,339
49,225
2,498
15,232
5,972
2,590
424
765
12,828
1,850
1,563
402
2,600
2,501
49,609
2,275
14,128
6,213
2,648
469
871
13,513
1,939
1,530
403
2,890
2,730
48,326
2,136
14,776
5,449
2,434
450
831
13,520
1,852
1,402
291
2,776
2,409
47,895
2,116
15,938
5,088
2,347
445
789
13,340
1,520
1,212
279
2,477
2,344
50,255
2,009
16,628
5,681
2,282
485
810
13,852
1,843
1,333
278
2,692
2,362
50,255
1,957
16,650
5,908
2,099
527
812
14,014
1,854
1,454
273
2,519
2,188
39 Caribbean
40
Bahamas
41
Bermuda
42
Cayman Islands7
43
Cuba
44
Jamaica
45
Netherlands Antilles
46
Trinidad and Tobago
47
Other Caribbean8
475,896
95,584
9,902
359,259
0
321
6,690
889
3,251
492,705
73,709
14,889
391,524
0
377
6,629
665
4,912
602,690
80,207
33,301
474,888
0
351
5,554
755
7,634
646,504
79,058
30,347
523,154
0
375
5,234
677
7,659
645,084
84,806
27,421
517,546
0
342
5,488
714
8,767
602,690
80,207
33,301
474,888
0
351
5,554
755
7,634
604,595
79,874
25,793
483,664
0
305
5,970
657
8,332
630,650
96,860
31,005
486,762
0
274
5,680
666
9,403
594,132
85,023
28,042
465,015
0
391
5,684
684
9,293
628,548
85,501
30,195
497,009
0
398
5,864
695
8,886
93,551
119,562
142,762
118,962
128,264
142,762
150,447
142,337
145,941
150,277
1,057
3,766
7,258
1,235
1,270
4,660
47,600
11,118
2,137
1,167
7,952
4,331
4,134
9,659
7,190
1,588
838
5,122
62,059
11,395
1,693
989
6,782
8,113
9,265
10,614
5,545
2,117
555
1,333
82,280
15,531
973
1,144
7,020
6,385
7,708
9,398
3,864
2,067
547
1,893
65,974
14,053
848
782
6,151
5,677
10,822
10,220
4,779
2,015
551
1,313
74,553
10,256
1,062
987
6,393
5,313
9,265
10,614
5,545
2,117
555
1,333
82,280
15,531
973
1,144
7,020
6,385
11,985
12,132
6,895
2,085
490
2,729
87,067
13,894
944
1,268
5,032
5,926
12,191
11,417
3,592
2,117
525
4,732
84,111
12,625
854
1,332
4,259
4,582
13,184
12,257
3,014
2,379
506
4,029
80,851
15,677
829
1,316
5,177
6,722
11,103
11,877
6,737
2,201
536
3,225
85,127
15,804
899
2,416
5,230
5,122
61 Africa
62 Egypt
63
Morocco
64
South Africa
65
Congo (formerly Zaire)
66
Oil-exporting countries9
67
Other
1,977
487
53
617
0
222
598
1,453
236
46
453
0
147
571
1,260
228
53
316
0
223
430
1,238
167
59
376
0
188
448
1,388
203
51
398
0
274
462
1,260
228
53
316
0
223
430
1,286
232
36
324
0
243
451
1,445
260
38
376
0
260
511
1,302
288
53
231
0
310
420
1,339
307
42
264
0
271
455
68 Other countries
69
Australia
70
New Zealand10
71
Allother
6,177
5,566
569
42
8,897
8,037
819
41
10,393
9,709
602
82
9,055
8,301
656
98
11,204
10,459
650
95
10,393
9,709
602
82
9,712
9,038
601
73
9,032
7,885
1,024
123
8,371
7,613
537
221
9,678
8,930
662
86
72 Nonmonetary international and regional organizations"
3,677
5,071
5,768
4,928
6,422
5,768
4,589
5,563
5,867
4,480
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Italy
12 Luxembourg2
13
Netherlands
14
Norway
15 Portugal
16
Russia
17
Spain
18
Sweden
19
Switzerland
20
Turkey
21
United Kingdom
22
Channel Islands and Isle of Man3
23
Yugoslavia4
24
Other Europe and other former U.S.S.R.5
48 Asia
China
49
Mainland
50
Taiwan
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Thailand
59
Middle Eastern oil-exporting countries5
60
Other
1. Reporting banks include all types of depository institutions as well as bank/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border brokerage
balances.
2. Before January 2001, combined data reported for Belgium-Luxembourg.
3. Before January 2001, data included in United Kingdom.
4. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
5. Includes the Bank for International Settlements and the European Central Bank.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and Caribbean."
7. Beginning 2001, Cayman Islands replaced British West Indies in the data series.
8. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
9. Comprises Algeria, Gabon, Libya, and Nigeria.
10. Before January 2001, included in "All other."
11. Excludes the Bank for International Settlements, which is included in "Other Europe."
Bank-Reported Data
3.19
BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Payable in U.S. dollars
49
Reported by Banks in the United States1
Millions of dollars, end of period
2004
Type of claim
1 Total claims reported by banks
3
Foreign official institutions2
5
Other foreigners4
6 Claims on banks' domestic customers5
7
Non-negotiable deposits
8
Negotiable CDs
9
Other short-term negotiable instruments6 . .
10
Other claims
2002
2003
2005
2004
Oct.
Nov.
1 642 355
70,181
1 208 412
363,762
1 699 886
62,723
1 255 715
381,448
Dec.
Jan.
Feb.
1 652 212
79.382
1 186 346
386.484
1 708 513
76.024
1 217 670
414.819
Mar.
Apr.-
1,409,095
1,603,404
1,980,220
1 185 445
52,198
970,357
162,890
1 322 363
57,897
980,099
284,367
1 668 435
77,399
1 192 868
398,168
223,650
80,269
281,041
135,939
72,196
63,107
9,799
311,785
131,607
89,313
76,951
13,914
500,085
376
633,153
3,970
638,305
3,110
650,481
2,864
633,153
3,970
636,297
3,641
653,661
3,881
621,463
3,613
654,844
3,976
n .a.
892,340
5,328
816,574
934,166
4,758
1,026,554
1,154,782
6,512
994,428
1,130,260
6,177
1,040,364
1,181,833
4,758
1,026,554
1,154,782
6,552
1,005,722
1,155,165
6,584
1,044,387
1,178,280
6,540
975,086
1,124,654
7,510
1,037,805
1,174,373
161,585
344,753
473,671
445,521
458,073
473,671
466,685
498,555
469,947
505,293
137,289
6,092
1,980,220
1 668 435
77.399
1 192 868
398.168
1,939,463
311.785
131,607
89,313
76,951
13,914
1 606 702
74.063
1 143 765
388.874
1 704 135
83.522
1 207 218
413.395
332.761
143,961
93,792
82,223
12,785
MEMO
11 Non-negotiable deposits7
12 Negotiable CDs7
13 Other short-term negotiable
14 Other claims7
16 Loans collateralized by repurchase
1. For banks' claims, data are monthly; for claims of banks' domestic customers, data are
for the quarter ending with the month indicated.
Reporting banks include all types of depository institutions as well as banks/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border balances.
2. Prior to February 2003, reflects claims on all foreign public borrowers.
3. Includes positions with affiliated banking offices also included in memo line (15) above.
4. As of February 2003, includes positions with affiliated non-banking offices also included
in memo line (15) above.
5. Assets held by reporting banks in the accounts of their domestic customers. Effective
March 2003, includes balances in off-shore sweep accounts.
6. Primarily bankers acceptances and commercial paper. Prior to February 2003, also
includes negotiable certificates of deposit.
7. Data available beginning February 2003.
8. For U.S. banks, includes amounts due from own foreign branches and foreign subsidiaries consolidated in quarterly Consolidated Reports of Condition filed with bank regulatory
agencies. For agencies, branches, and minority-owned subsidiaries of foreign banks, consists
principally of amounts due from the head office or parent foreign bank, and from foreign
branches, agencies, or wholly owned subsidiaries of the head office or parent foreign bank.
Effective February 2003, includes amounts due from affiliated foreign offices of U.S. brokers
and dealers.
9. Data available beginning January 2001.
50
Federal Reserve Bulletin Statistical Supplement • June 2005
3.22
LIABILITIES TO FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
2002
Sept.
Sept.
1 Total
66,679
67,664
83,475
83,956
83,475
88,728
105,176
103,419
108,592
By type
2 Financial liabilities
3
Short-term negotiable securities' . .
41,034
n.a.
39,561
53,385
14,002
56,330
17,410
53,385
14,002
58,296
9,859
73,034
10,868
74,043
11,415
79,445
11,759
39,383
38,920
48,437
62,166
8,498
22,946
7,081
21,588
8,498
22,946
8,402
32,449
5,949
45,495
3,558
45,766
6,315
49,882
42,406
30,628
1,730
7,998
17,883
1,660
1,357
43,842
30,201
1,981
7,678
17,420
1,642
1,480
46,173
33,272
2,399
9,067
18,337
1,564
1,905
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
14 Financial liabilities to unaffiliated
foreigners
Byy area or country
15 Europe
16
Belgium-Luxembourg
17
France
18
Germany
19
Netherlands
20
Switzerland
21
United Kingdom
n.a.
n.a.
18,763
22,271
n.a.
n.a.
n.a.
n.a.
n.a.
18,844
20,717
25,290
28,095
1,431
10,372
11,425
2,493
2,374
28,781
27,549
1,266
13,731
7,987
1,945
2,620
25,290
28,095
1,431
10,372
11,425
2,493
2,374
34,150
24,146
1,149
7,147
12,894
1,330
1,626
41,034
39,561
43,845
45,364
43,845
45,349
58,319
57,367
63,115
31,806
154
2,841
2,344
1,954
94
22,852
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
33,575
675
2,743
3,366
285
17
24,733
34,832
709
3,543
3,531
284
517
23,886
30,976
528
2,133
3,015
284
524
22,004
45,810
539
2,092
3,699
320
298
28,992
43,134
677
2,290
3,335
340
431
28,166
38,690
775
1,349
2,911
363
514
29,225
7,768
8,554
MEMO:
22
Euro area3 . . .
8,798
9,855
8,496
955
591
1,474
1,386
1,474
1,542
1,762
2,701
1,504
23
990
65
365
n.a.
31
4,235
0
711
242
n.a.
3,114
34
3
5,579
26
2,862
155
n.a.
2,426
31
0
4,235
0
711
242
n.a.
3,114
34
3
8,115
0
3,604
291
n.a.
3,910
28
0
6,093
0
2,300
200
n.a.
3,483
25
0
16,196
0
8,715
208
n.a.
7,178
26
18
24
25
26
27
28
29
30
31
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,858
157
960
35
1,627
32
33
34
Asia
Japan
Middle Eastern oil-exporting countriesf
5,042
3,269
10
2,932
1,832
14
2,547
1,826
36
4,116
2,210
67
2,547
1,826
36
4,519
1,431
29
4,487
1,612
24
4,589
1,664
30
4,724
1,648
36
35
36
Africa
Oil-exporting countries'"
53
5
131
91
123
92
119
91
123
92
126
93
118
93
119
93
131
94
37
All other7
36
2
2,382
185
4,591
24
Nonbank-Reported Data
3.22
LIABILITIES TO FOREIGNERS
the United States—Continued
51
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
Sept.
38 Commercial liabilities
39
Trade payables
40
Advance payments and other liabilities .
41
42
43
44
45
46
47
48
49
50
51
52
53
54
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial liabilities
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
Sept.
25.645
11,781
13,864
28,103
14,699
13,404
30,090
17
13
27,626
16
11
30,090
17
13
30,432
17
13
32,142
18
14
29,376
18
11
29,147
18
11
24,162
1,483
n.a.
n.a.
n.a.
n.a.
n.a.
26,243
1,860
27,632
2,458
199
787
606
209
657
25,615
2,011
165
490
542
154
660
27,632
2,458
199
787
606
209
657
28,178
2,254
196
699
513
223
623
29,663
2,479
183
729
593
255
719
26,080
3,296
241
1,030
600
302
1,123
25,796
3,351
224
1,058
704
296
1,069
9,219
99
734
905
1,163
790
2,279
8,257
141
765
781
590
433
2,649
9,821
159
900
855
384
1,367
3,025
8,744
178
779
764
1,326
383
2,911
9,821
159
900
855
384
1,367
3,025
8,943
145
1,017
1,018
303
543
3,023
9,719
135
1,092
1,275
289
638
3,035
8,840
133
1,050
1,021
316
616
3,126
9,019
123
1,019
1,024
305
564
3,399
MEMO
Euro area3
5,141
4,198
4,440
4,198
56
Canada
1,622
1,588
2,166
2,032
2,166
2,337
2,533
1,990
2,142
57
58
59
60
61
62
63
64
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
2,727
52
591
290
45
n.a.
899
166
3,073
51
538
253
36
n.a.
1,170
177
3,406
14
513
233
n.a.
40
1,298
329
3,667
25
631
3,916
16
647
226
n.a.
77
1,362
389
4,389
39
801
167
n.a.
32
1,274
517
3,406
14
513
233
n.a.
40
1,298
329
1,755
481
4,317
35
635
98
n.a.
29
1,925
477
4,276
32
515
113
n.a.
101
1,942
433
65
66
67
Asia
Japan
Middle Eastern oil-exporting countries-
10,517
2,581
2,639
13,382
4,292
3,979
13,311
4,370
3,148
11,702
4,175
2,934
13,311
4,370
3,148
13,540
4,973
2,553
13,484
4,755
2,311
12,705
4,288
3,312
12,238
4,221
2,910
68
Africa
836
436
827
405
782
372
884
373
782
372
1,009
548
1,082
567
956
488
947
424
69
70
Oil-exporting countries'"
3,832
All other7
MEMO
71
Financial liabilities to foreign affiliates5 . . .
1. Data available beginning March 2003.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial liabilities to foreign affiliates
of insurance underwriting subsidiaries of bank/financial holding companies and other financial intermediaries. These data are included in lines 1-6 above.
52
Federal Reserve Bulletin Statistical Supplement • June 2005
3.23
CLAIMS ON FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.'
102,566
165,934
181,821
165,934
176,473
188,543
192,347
197,739
71,389
27,064
132,332
35,920
3,211
150,561
46,742
3,174
132,332
35,920
3,211
142,632
45,415
2,502
154,096
42,974
5,468
160,552
50,314
7,595
164,981
47,883
9,892
n.a.
n.a.
157
93,201
158
100,645
157
93,201
6
94,715
129
105,654
70
102,643
103
107,206
n.a.
n.a.
69,208
3,253
71,488
4,729
69,208
3,253
67,343
5,602
66,849
19,073
64,968
17,685
59,683
24,034
122,879
9,453
912
2,776
3,242
831
1,692
140,249
10,312
1,371
3,677
2,704
982
1,578
122,879
9,453
912
2,776
3,242
831
1,692
132,701
9,931
1,254
2,425
3,722
892
1,638
117,735
36,361
1,400
8,534
13,992
7,952
4,483
124,592
35,960
1,278
13,129
9,618
7,829
4,106
121,909
43,072
1,329
20,651
9,219
7,345
4,528
67,347
83,450
67,347
80,256
92,499
101,867
110,517
28,970
391
3,049
2,859
2,789
617
11,438
36,125
226
3,541
6,061
4,476
1,767
11,660
28,970
391
3,049
2,859
2,789
617
11,438
32,331
1,256
3,113
4,573
2,293
618
13,193
46,343
1,206
4,375
3,151
2,974
453
23,575
47,040
292
3,620
2,299
3,149
585
26,641
48,714
2,177
1,452
5,386
7,389
978
23,982
1 Total
2
3
4
5
6
7
8
9
10
11
12
13
14
15
By type
Financial claims
Non-negotiable deposits
Negotiable securities
Of which:
Negotiable CDs'
Other claims
Of which:
Loans'
Repurchase agreements'
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
16 Financial claims on unaffiliated
foreigners
By area or country
17
Europe
18
Belgium-Luxembourg
19
France
20
Germany
21
Netherlands
22
Switzerland
23
United Kingdom
Sept.
81,287
29,801
n.a.
74,471
6,816
n.a.
n.a.
n.a.
n.a.
n.a.
65,070
6,319
26,118
625
1,450
1,068
2,138
589
16,510
29,018
722
3,247
4,245
3,648
383
10,663
MEMO:
24
25
17,281
Euro area3
Canada
26
27
28
29
30
31
32
33
34
35
36
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5 .
37
38
Africa
Oil-exporting countries6
39
All other7
6,193
5,013
5,311
4,942
5,311
5,278
4,533
5,825
6,412
41,201
976
918
2,127
32,965
n.a.
3,075
83
29,612
1,038
724
2,286
21,528
n.a.
2,921
104
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
33,805
412
533
2,592
n.a.
26,936
2,136
123
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
35,284
646
1,034
1,967
n.a.
28,577
1,723
174
34,256
801
1,410
1,749
n.a.
27,613
1,706
135
42,091
1,346
1,063
1,833
n.a.
35,188
1,527
139
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
6,430
1,604
135
5,358
1,277
79
5,317
1,194
158
7,017
1,496
275
5,317
1,194
158
5,650
978
138
5,976
1,011
121
5,633
1,050
138
6,840
993
137
414
49
395
25
419
12
565
34
419
12
391
13
238
8
1,993
1,115
306
8
1,020
1,096
International Statistics
3.23
53
CLAIMS ON FOREIGNERS Reported by Nonbanking Business Enterprises in
the United States—Continued
Millions of dollars, end of period
Type of claim, and area or country
Sept.'
40 Commercial claims
41
Trade receivables
42
Advance payments and other claims
43
44
45
46
47
48
49
50
51
52
53
54
55
56
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial claims
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
Sept.
31.795
27,513
4,282
31,177
26,385
4,792
33,602
28,651
4,951
31,260
25,749
5,511
33,602
28,651
4,951
33,841
28,623
5,218
34,447
29,921
4,526
31,795
27,357
4,438
32,758
29,272
3,486
29,393
2,402
26,481
4,696
n.a.
25,527
8,075
1,557
1,542
1,187
589
3,200
24,327
6,933
1,262
1,216
1,123
547
2,785
25,527
8,075
1,557
1,542
1,187
589
3,200
26,165
7,676
1,518
1,255
1,299
478
3,126
27,417
7,030
649
1,196
1,204
598
3,383
27,919
3,876
446
1,026
1,169
191
1,044
27,482
5,276
512
1,561
1,586
238
1,379
14,022
268
2,921
1,658
529
611
3,833
14,187
269
3,164
1,202
1,490
503
3,727
14,576
247
2,816
1,284
397
1,921
3,928
14,087
208
3,093
1,196
1,300
652
4,007
14,576
247
2,816
1,284
397
1,921
3,928
14,332
209
2,740
1,494
421
1,248
3,964
13,554
238
2,603
1,529
345
1,257
3,903
13,010
298
2,582
1,337
396
1,218
3,819
13,483
257
2,261
1,419
494
1,528
3,750
MEMO
57
58
Canada
59
60
61
62
63
64
65
66
67
68
69
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
70
Africa
71
72
8,580
Euro area3
Oil-exporting countries6
8,255
2,818
2,790
3,070
2,673
3,070
3,272
2,293
2,261
2,018
4,859
42
369
954
95
n.a.
1,391
4,346
31
287
750
19
n.a.
1,259
288
5,153
26
460
903
n.a.
52
1,339
4,813
25
447
808
n.a.
50
1,181
233
5,153
26
460
903
n.a.
52
1,339
230
5,516
35
739
1,002
n.a.
67
1,149
228
5,636
26
690
1,024
n.a.
66
1,245
251
6,140
61
766
903
n.a.
124
1,766
261
6,477
55
650
935
n.a.
160
2,018
319
7,849
2,006
850
7,324
2,341
818
7,356
1,761
888
6,452
1,734
738
7,356
1,761
888
7,250
1,589
980
8,166
1,784
1,085
8,602
1,847
961
8,948
1,857
1,071
645
88
584
95
636
138
548
136
636
138
621
183
711
224
783
209
629
154
2,811
2,687
2,850
4,087
All other7
MEMO
73
Financial claims on foreign affiliates5
1. Data available beginning March 2003.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial claims on foreign affiliates of
insurance underwriting subsidiaries of bank/financial holding companies and other financial
intermediaries. These data are included in lines 1-8 above.
54
Federal Reserve Bulletin Statistical Supplement • June 2005
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.Apr.
Apr.'
U.S. corporate securities
STOCKS
3,107,102
3,071,529
1 Foreign purchases
2 Foreign sales
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
1,477,836
1,447,960
331,794
328,867
366,837
352,845
362,886
355,239
338,673
322,260
341,214
333,781
396,188
394,459
401,761
397,460
13,992
7,647
35,606
27,946
29,945
2,900
14,077
7,651
16,409
7,409
1,856
4,271
21,996
6,224
-3,349
59
-2,194
889
91
11,628
-371
485
2,123
-2,232
257
-512
20,257
-871
-2,355
2,233
-1,178
15,341
-177
1,359
-804
6,474
-297
2,837
-44
1,001
20,789
465
761
1,720
-871
11,904
90
7,461
785
1,115
-409
141
-357
4,536
1,151
232
163
-666
3,851
132
-324
-596
-45
-935
776
1
263
10,587
2,467
374
1,535
-978
5,787
-1
-234
2,143
1,793
-281
965
7
62
3,603
-6,070
-38
-603
659
8,404
-612
-849
4,154
594
521
-41
-3
-369
11,196
2,316
113
-266
472
6,164
6
-685
4,425
464
1,031
334
71
-93
5,522
-994
-499
156
-12
5,462
49
320
956
220
500
382
22
-131
1,197
-996
656
358
-1,087
701
-4
-206
1,107
91
-317
-784
55
-71
2,874
139
491
1,472
-244
-423
39
582
973
10
-99
-341
-7
-62
2,950,232
2,523,762
2,368,623'
1,844,375'
758,329
611,522
172,571
131,717
198,935
145,642
192,086'
124,622'
177,998
133,383
196,466
148,345
204,059
174,681
179,806
155,113
27,806
3 Net purchases, or sales (-)
4 Foreign countries
3,966,052
3,938,246
7,433
BONDS 3
20 Foreign purchases
21 Foreign sales
524,248'
2 3 Foreign countries
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Mar
Canada
Latin America and Caribbean .
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
24,693
53,293
67,464'
426,725
521,858'
146,128
40,948
53,778
66,346'
44,626
47,820
29,161
24,521
210,463
4,859
2,275
2,675
7,525
132,476
20,138
4,325
97,135
3,774
108,230
32,786
1,646
1,152
246,550'
7,274
11,500
1,929
6,973
151,502'
6,477
12,095
106,990'
4,702
149,010'
74,983
512
1,999
74,494
4,415
4,417
880
-907
51,054
1,654
3,838
31,266
723
34,277
10,873
7
1,523
18,634
156
-1,289
210
320
12,569
370
799
6,424
30
14,708
7,850
86
267
23,237
1,122
820
138
-31
15,924
658
575
8,683
630
20,811
11,103
-199
41
35,944'
1,548
118
169
959
25,179'
745
1,958
13,937'
-72
14,916'
10,599
75
-412
14,340
-806
2,303
237
-296
8,502
693
935
14,608
55
14,620
6,046
33
35
27,719
1,000
1,437
298
-977
20,218
-251
1,045
5,367
423
11,837
151
55
1,374
22,264
1,588
1,331
201
412
15,366
667
1,284
164
260
5,241
1,428
-91
39
10,171
2,633
-654
144
-46
6,968
545
574
11,127
-15
2,579
3,248
10
75
-14,097'
143,459'
157,556'
-6,414'
118,719'
125,133'
-5,032
134,252
139,284
5,546
116,423
110,877
-15,343
152,462
167,805
1,351
128,724
127,373
-14,469
193,331
207,800
-3,867
134,298
138,165
-1,624
169,940
171,564
-4,593
116,362
120,955
22 N e t p u r c h a s e s , or sales ( - ) . . .
2,390'
48,121
1,118'
Foreign securities
-84,754
1,333,772
1,418,526
18,864
1,560,060
1,541,196
-83,406'
1,663,824'
1,747,230'
-25,479'
1,455,934'
1,481,413'
-36,468
649,985
686,453
-1,563
495,807
497,370
-10,148
131,759
141,907
-2,026
121,501
123,527
-7,745
151,367
159,112
2,013
120,811
118,798
45 Net purchases, or sales (-), of stocks and bonds . .
-65,890
-108,885'
-38,031
-12,174
-5,732
-20,511'
514
-13,992
-18,336
-6,217
46 Foreign countries
-65,354
-108,030'
-37,847
-12,083
-5,750
-20,250'
644
-14,055
-18,242
-6,194
47
48
49
50
51
52
53
-10,306
6,345
-8,457
-51,650
-34,240
252
-1,538
-113,896'
-1,136
14,977'
-6,112
-20,641
1,593
-3,456
-27,011
1,882
-3,782
-5,750
-4,198
49
-3,235
-14,264
-1,411
3,376
543
-1,077
288
-615
-5,121
-1,435
2,587
-2,823
-777
272
770
-9,034'
-796
-4,115'
-5,754
-2,597
-55
-496
-2,294
805
1,076
1,148
269
115
-206
-6,726
636
-2,631
-4,235
-3,199
-107
-992
-12,620
363
-1,725
-3,513
-2,818
80
-827
-5,371
78
-502
850
1,550
-39
-1,210
39 Stocks, net purchases, or sales (-) .
40
Foreign purchases
41
Foreign sales
42 Bonds, net purchases, or sales (-) .
43
Foreign purchases
44
Foreign sales
Europe
Canada
Latin America and Caribbean
Asia
Japan
Africa
Other countries
54 Nonmonetary international and
regional organizations
1. Before January 2001, data included in United Kingdom.
2. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
3. Includes state and local government securities and securities of U.S. government
agencies and corporations. Also includes issues of new debt securities sold abroad by U.S.
corporations organized to finance direct investments abroad.
Securities Holdings and Transactions
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
55
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.Apr.
Apr.'
1 Total estimated
276,713
351,985
125,690
19,204
33,720
8,357
30,741'
42,505'
27,789
24,655
2 Foreign countries
277,496
351,266
124,721
18,735
33,433
8,531
30,274'
42,821'
27,728
23,898
57,219
1,721
10,776
884
-297
407
4,894
35,603
1,670
1,561
10,348
88,334
118
8,804
-575
-3,152
3,236
5,342
78,662
1,176
-5,277
16,098
38,528
-725
9,607
1,716
-2,087
7
1,773
22,773
2,215
3,249
10,218
14,350
30
1,544
1,075
-1,421
995
1,720
3,566
183
6,658
1,090
18,567
192
2,233
-35
-285
702
-333
17,089
33
-1,029
5,322
9,037
236
141
-1,120
1,095
1,149
812
11,293
33
-4,602
1,108
7,137'
15,478'
16
-942
534
-444'
570
2,277
10,464
361
2,642'
3,135
-4,838
-907
2,745
-547
998
662
158
10,482
1,749
-20,178
593
20,751
164
4,263
1,293
-1,039
-96
-749
3,384
-159
13,690
4,012
19,541
293
11,264
7,984
183,084
147,635
57
7,247
33,557
-15
21,976
11,596
214,779
166,378
677
-2,179
61,431
-28
59,811
1,648
14,741
1,986
831
-1,028
-2,601
-28
-4,315
1,742
5,552
-2,051
-11
355
-19,348
112
-17,715
-1,745
27,187
9,292
10
1,695
-8,169
-47
-8,698
576
6,244
1,482
283
29,832'
-51
29,937
-54'
-8,681
-5,561
-217
-275
8,811'
-18
8,152
497
-102
26,733
76
25,968
689
4,555
-1,815
741
-56
-3,945
-35
-4,246
336
3,865
7,017
-190
-595
-783
-503
-53
719
2
-26
969
533
-13
469
66
0
287
-82
-9
-174
-517
0
467
452
-14
-316
-282
-4
61
80
-4
757
283
9
277,496
113,486
164,010
351,266
201,135
150,131
124,721
17,901
106,820
18,735
15,649
3,086
33,433
21,049
12,384
8,531
6,976
1,555
30,274'
7,630
22,644'
42,821'
11,273
31,548'
27,728
-14,983
42,711
23,898
13,981
9,917
-7,134
52
9,041
249
-999
565
3,831
0
3,977
0
510
250
-699
-204
713
249
387
710
-1,400
-190
3
4
5
6
7
8
9
10
11
12
13
Europe
Belgium2
Germany
Luxembourg2
Netherlands
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man3
Other Europe and former U.S.S.R
Canada
14
15
16
17
18
19
20
21
Latin America and Caribbean
Venezuela
Other Latin America and Caribbean
Netherlands Antilles
Asia
Japan
Africa
Other
22 Nonmonetary international and regional organizations
23
International
24 Latin American Caribbean regional
3,541
436
-1,602'
-1,129
87
-1,557
264
7,095
2,478
SIT
15,002
2,345
MEMO
25 Foreign countries
26
Official institutions
27
Other foreign
Oil-exporting countries
28 Middle East4
29 Africas
1. Official and private transactions in marketable U.S. Treasury securities having an
original maturity of more than one year. Data are based on monthly transactions reports.
Excludes nonmarketable U.S. Treasury bonds and notes held by official institutions of foreign
countries.
2. Before January 2001, combined data reported for Belgium and Luxembourg.
3. Before January 2001, these data were included in the data reported for the United
Kingdom.
4. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
5. Comprises Algeria, Gabon, Libya, and Nigeria.
56
Federal Reserve Bulletin Statistical Supplement • June 2005
3.28
FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE VALUE OF THE U.S. DOLLAR1
Currency units per U.S. dollar except as noted
2004
Item
2002
2003
2005
2004
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
76.68
2.6895
1.2248
8.2765
5.6699
1.3123
7.7948
43.62
103.34
3.8000
11.263
70.65
6.2672
1.6377
5.9587
1,037.98
98.929
6.8991
1.1792
31.847
38.739
187.97
1,915.20
78.12
2.5971
1.2401
8.2765
5.7195
1.3013
7.7994
43.58
104.94
3.8000
11.137
71.55
6.3960
1.6381
6.0001
1,023.11
99.273
6.9800
1.1918
31.498
38.446
188.71
1,915.20
78.48
2.7061
1.2160
8.2765
5.6488
1.3185
7.7994
43.59
105.25
3.8000
11.155
73.00
6.2116
1.6308
6.0328
1,007.78
99.390
6.8954
1.1756
31.106
38.594
190.43
2,124.65
77.38
2.5760
1.2359
8.2765
5.7554
1.2943
7.7984
43.64
107.19
3.8000
11.112
72.09
6.3147
1.6511
6.1469
1,010.07
99.671
7.0814
1.1954
31.480
39.521
189.61
2,144.60
Exchange rates
COUNTRY/CURRENCY UNIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Australia/dollar2
Brazil/real
Canada/dollar
China, P.RJyuan
Denmark/krone
European Monetary Union/euro3
Hong Kong/dollar
India/rupee
Japan/yen
Malaysia/ringgit
Mexico/peso
New Zealand/dollar2
Norway/krone
Singapore/dollar
South Africa/rand
South Korea/won
Sri Lanka/rupee
Sweden/krona
Switzerland/franc
Taiwan/dollar
Thailand/baht
United Kingdom/pound2
Venezuela/bolivar
54.37
2.9213
1.5704
8.2771
7.8862
0.9454
7.7996
48.63
125.22
3.8000
9.663
46.45
7.9839
1.7908
10.5176
1,250.31
95.773
9.7233
1.5567
34.536
43.019
150.25
1,161.19
65.24
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
58.22
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
163.47
1,613.43
73.65
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
66.43
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
183.30
1,886.13
77.04
2.7877
1.1968
8.2765
5.7178
1.2997
7.7755
45.03
104.70
3.8000
11.371
70.09
6.2700
1.6505
6.0305
1,086.44
104.632
6.9257
1.1711
32.777
40.282
186.07
1,915.20
76.75
2.7150
1.2189
8.2765
5.5449
1.3406
7.7760
43.85
103.81
3.8000
11.201
71.49
6.1355
1.6402
5.7235
1,050.37
104.748
6.6969
1.1465
32.170
39.184
192.86
1,915.20
Indexes4
NOMINAL
24 Broad (January 1997=100)s
25 Major currencies (March 1973=100)°
26 Other important trading partners (January
1997=100)7
126.66
105.98
119.08
93.00
113.55
85.36
109.97
81.03
108.72
80.11
109.35
81.06
109.59
81.81
108.93
80.89
109.92
82.23
140.32
143.49
143.31
142.18
140.57
140.36
139.44
139.52
139.53
111.15'
110.57'
104.41'
97.56'
99.78'
90.60'
96.67'
86.39'
95.25'
85.08'
96.11'
86.59'
96.26'
87.68'
96.17
86.94
97.53
88.71
121.43'
123.08'
121.75'
120.27'
118.57'
118.41'
117.00'
117.98
118.76
REAL
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
29 Other important trading partners (March
1973=100)7
1. Averages of certified noon buying rates in New York for cable transfers. Data in this
table also appear in the Board's G.5 (405) monthly statistical release, available at
www.federalreserve.gov/releases.
2. U.S. cents per currency unit.
3. The euro is reported in place of the individual euro area currencies. By convention, the
rate is reported in U.S. dollars per euro. The bilateral currency rates can be derived from the
euro rate by using the fixed conversion rates (in currencies per euro) as shown below:
Euro equals
13.7603
40.3399
5.94573
6.55957
1.95583
.787564
Austrian schillings
Belgian francs
Finnish markkas
French francs
German marks
Irish pounds
1,936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
4. Starting with the January 2004 Statistical Supplement to the Federal Reserve Bulletin,
revised index values resulting from the periodic revision of data that underlie the calculated
trade weights are reported. For more information on the indexes of the foreign exchange value
of the dollar, see Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
5. Weighted average of the foreign exchange value of the U.S. dollar against the currencies
of a broad group of U.S. trading partners. The weight for each currency is computed as an
average of U.S. bilateral import shares from and export shares to the issuing country and of a
measure of the importance to U.S. exporters of that country's trade in third country markets.
The source for exchange rates not listed in the table above but used in the calculation of this
index is Reuters Limited.
6. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that circulate widely outside the country of issue. The weight for each
currency is its broad index weight scaled so that the weights of the subset of currencies in the
index sum to one.
7. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that do not circulate widely outside the country of issue. The weight
for each currency is its broad index weight scaled so that the weights of the subset of
currencies in the index sum to one. The source for exchange rates not listed in the table above
but used in the calculation of this index is Reuters Limited.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title and Date
Issue
Page
Reference
Assets and liabilities of commercial banks
June 30, 2004
September 30,2004
December 31,2004
March 31,2005
November
February
March
June
2004
2005
2005
2005
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks
May 2004
August 2004
November 2004
February 2005
August
November
February
May
2004
2004
2005
2005
60
60
60
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks
March 31,2004
June 30, 2004
September 30,2004
December 31,2004
August
November
February
May
2004
2004
2005
2005
66
66
66
64
Supplement
Supplement
Supplement
Supplement
August 2001
October 2001
January 2002
A76
A64
A64
Bulletin
Bulletin
Bulletin
Residential lending reported under the Home Mortgage Disclosure Act
1989-2001
1990-2002
1991-2003
September 2002
September 2003
September 2004
A58
A58
58
Bulletin
Bulletin
Supplement
Disposition of applications for private mortgage insurance
1998-2001
1999-2002
2000-2003
September 2002
September 2003
September 2004
A67
A67
67
Bulletin
Bulletin
Supplement
Small loans to businesses and farms
1996-2001
1996-2002
1997-2003
September 2002
September 2003
September 2004
A70
A70
70
Bulletin
Bulletin
Supplement
Community development lending reported under the Community Reinvestment Act
2001
2002
2003
September 2002
September 2003
September 2004
A73
A73
73
Bulletin
Bulletin
Supplement
Pro forma financial statements for Federal Reserve priced services*
March 31,2001
June 30, 2001
September 30, 2001
*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 • June 2005
4.20
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities
Consolidated Report of Condition, March 31, 2005
Millions of dollars except as noted
Domestic
total
1 Total assets
2 Cash and balances due from depository institutions
3
Cash items in process of collection, unposted debits, and currency and coin
4
Cash items in process of collection and unposted debits
5
Currency and coin
6
Balances due from depository institutions in the United States
7
Balances due from banks in foreign countries and foreign central banks
8
Balances due from Federal Reserve Banks
9 Total securities, held-to-maturity (amortized cost) and available-for-sale (fair value)
10
U.S. Treasury securities
11
U.S. government agency and corporation obligations (excludes mortgage-backed
securities)
12
Issued by U.S. government agencies
13
Issued by U.S. government-sponsored agencies
14
Securities issued by states and political subdivisions in the United States
15
Mortgage-backed securities (MBS)
16
Pass-through securities
17
Guaranteed by GNMA
18
Issued by FNMA and FHLMC
19
Other pass-through securities
20
Other mortgage-backed securities (includes CMOs, REMICs, and stripped MBS)
21
Issued or guaranteed by FNMA, FHLMC or GNMA
22
Collateralized by MBS issued or guaranteed by FNMA, FHLMC, or GNMA
23
All other mortgage-backed securities
24 Asset-backed securities
25
Credit card receivables
26
Home equity lines
27
Automobile loans
28
Other consumer loans
29
Commercial and industrial loans
30
Other
31
Other debt securities
32
Other domestic debt securities
33
Foreign debt securities
34
Investments in mutual funds and other equity securities with readily determinable
fair value
Banks with foreign offices'
Banks with
domestic
offices only2
8,442,470
7,485,877
5,832,136
4,875,542
2,610,334
386,440
260,343
n. a.
n. a.
n. a.
n. a.
n. a.
n. a.
304,536
125,157
178,439
121,042
95,448
25,595
26,073
16,703
14,621
81,904
n.a.
n.a.
32,821
131,882
14,676
1,542,181
52,984
n. a.
n. a.
973,265
34,383
568,917
18,602
253,088
10,294
242,794
113,153
894,555
611,875
35,648
559,052
17,176
282,680
158,872
11,543
112,265
71,543
14,435
23,398
11,512
4,209
6,443
11,545
142,721
45,816
96,905
n. a.
n. a.
n. a.
95,335
7,403
87,932
40,367
632,379
157,753
472,501
21,172
436,992
14,337
159,878
80,794
5,852
73,232
48,943
11,524
12,992
8,493
3,749
5,491
6,694
113,481
25,091
88,390
2,892
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
72,786
262,176
139,374
14,476
122,060
2,839
122,802
78,078
5,692
39,033
22,600
2,912
10,405
3,019
461
952
4,851
29,240
20,725
8,515
5,760
8,377
14,137
154,861
406,656
183,501
223,155
312,318
183,501
128,817
340,133
122,208
217,925
245,794
122,208
123,586
66,524
61,293
5,231
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
4,896,960
2,897
172,363
4,721,700
68,451
4,653,249
4,574,893
1,837
3,172,346
1,747
134,135
1,724,614
1,150
3,036,465
43,306
2,993,159
2,850,279
687
n.a.
n.a.
n.a.
n.a.
Total loans and leases, gross, by category
44 Loans secured by real estate
45
Construction and land development
46
Farmland
47
One- to four-family residential properties
48
Revolving, open-end loans, extended under lines of credit
2,686,395
n.a.
n.a.
n.a.
n.a.
2,638,499
307,782
45,021
1,522,083
413,923
1,543,194
1,495,299
1,143,201
n.a.
n.a.
n.a.
n.a.
146,630
n.a.
n.a.
n.a.
44,966
935,432
n.a.
n.a.
1,021,041
87,119
89,110
674,503
132,005
774,580
300,653
38,123
435,804
28,814
144,581
6,858
137,723
n.a.
n.a.
135,561
35 Federal funds sold and securities purchased under agreements to resell
36
Federal funds sold in domestic offices
37
Securities purchased under agreements to resell
66
67
68
69
70
71
Closed-end loans secured by one- to four-family residential properties
Secured by first liens
Secured by junior liens
Multifamily (five or more) residential properties
Nonfarm n on residential properties
Loans to depository institutions and acceptances of other banks
Commercial banks in the United States
Other depository institutions in the United States
Banks in foreign countries
Loans to finance agricultural production and other loans to farmers
Commercial and industrial loans
U.S. addressees (domicile)
Non-U.S. addressees (domicile)
Loans to individuals for household, family, and other personal expenditures (includes
purchased paper)
Credit cards
Other revolving credit plans
Other consumer loans (including single-payment, installment, and all student loans)
Obligations (other than securities) of states and political subdivisions in the United States
(includes nonrated industrial development obligations)
All other loans
Loans to foreign governments and official institutions
Other loans
Loans for purchasing and carrying securities
All other loans (excludes consumer loans)
Lease-financing receivables
72
73
74
75
76
77
78
79
80
81
Trading assets
Premises and fixed assets (including capitalized leases)
Other real estate owned
Investments in un con soli dated subsidiaries and associated companies
Customers' liability on acceptances outstanding
Net due from own foreign offices, Edge Act and agreement subsidiaries, and IBFs
Intangible assets
Goodwill
Other intangible assets
All other assets
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
512,236
87,196
3,794
9,374
5,623
n.a.
278,236
205,607
72,629
385,122
138,573
7,440
169,208
1,032,425
309,293
489,658
667,577
55,555
353,464
31,564
48,800
397,954
6,315
40,310
140,316
64,646
55,048
20,622
11,463
276,550
125,691
64,188
55,047
6,456
667,590
10,836
542,156
541,913
125,677
532,798
9,358
690,439
269,849
25,381
395,209
539,452
196,699
34,306
308,447
455,312
165,895
21,564
267,852
28,813
108,829
3,682
18,856
129,964
6,832
105,147
123,131
18,855
94,211
3,656
90,555
19,959
70,596
107,920
121,511
495,468
49,594
1,442
8,851
5,392
n.a.
220,765
159,433
61,332
305,397
38,229
1,685,235
25,145
1,660,090
n.a.
n.a.
n.a.
n.a.
n.a.
26,024
n.a.
n.a.
n.a.
n.a.
37,581
104,630
33,503
267,842
235,127
103,954
3,818
127,356
9,958
14,618
26
14,592
14,050
16,768
37,602
2,352
523
231
n.a.
57,471
46,174
11,297
79,726
Special Tables
4.20
59
DOMESTIC AND FOREIGN OFFICES Insured Commercial Bank Assets and Liabilities—Continued
Consolidated Report of Condition, March 31, 2005
Millions of dollars except as noted
Domestic
total
Banks with foreign offices'
Banks with
domestic
offices only2
5,832,136
82 Total liabilities, minority interest, and equity capital
8,442,470
83 Total liabilities
7,583,777
6,627,183
5,262,638
4,306,044
2,321,139
84 Total deposits
85
Individuals, partnerships, and corporations (include all certified and official checks) . . . .
86
U.S. government
87
States and political subdivisions in the United States
88
Commercial banks and other depository institutions in the United States
89
Banks in foreign countries
90 Foreign governments and official institutions (including
foreign central banks)
5,653,233
5,100,896
4,772,131
4,449,121
5,412
242,354
58,504
15,223
3.738.843
3,341,546
n.a.
n.a.
65.395
159,102
2,857,740
2,689,771
3,973
112,117
35,416
14,956
1,914,391
1,759,350
1,439
130,237
23,088
267
91
92
93
94
95
96
97
Total transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks) . . . .
98
Total demand deposits
99
100
101
102
103
104
105
Total n on transaction accounts
Individuals, partnerships, and corporations (include all certified and official checks) . .
U.S. government
States and political subdivisions in the United States
Commercial banks and other depository institutions in the United States
Banks in foreign countries
Foreign governments and official institutions (including foreign central banks)
88,483
159,369
1,517
56,257
n.a.
n.a.
n.a.
1,507
381,207
314,527
2,059
34,691
22,957
6,231
743
10
n.a.
n.a.
n.a.
n.a.
729,398
619,526
3,006
71,279
28,527
6,309
751
526,449
310,015
216,434
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4,042,733
3,829,595
2,406
171,075
29,977
8,913
766
2,476,533
2,375,245
1,914
77,426
12,459
8,724
765
1,566,200
1,454,350
491
93,649
17,519
189
1
348,191
304,999
948
36,588
5,570
78
8
106 Federal funds purchased and securities sold under agreements to repurchase
107
Federal funds purchased in domestic offices
108
Securities sold under agreements to repurchase
109 Trading liabilities
110 Other borrowed money (includes mortgage indebtedness and obligations under capitalized
leases)
111 Banks' liability on acceptances executed and outstanding
112 Subordinated notes and debentures to deposits
113 Net due to own foreign offices, Edge Act and agreement subsidiaries, and IBFs
114 All other liabilities
115 Minority interest in consolidated subsidiaries
583,555
216,541
367,013
272,528
525,633
216,541
309,092
459.166
162,983
296,184
271,527
401,245
162,983
238,262
n.a.
124,389
53,559
70,830
1,001
709,446
5,704
113,784
n.a.
245,527
11,935
633,617
3,446
472,605
5,473
106,691
n.a.
208.333
10,924
396.776
3,215
n.a.
263,595
n.a.
n.a.
236,841
231
7,093
n.a.
37,194
1,010
116 Total equity capital
846,759
558,574
n.a.
288,185
MEMO
117 Trading assets at large banks2
118
U.S. Treasury securities (domestic offices)
119
U.S. government agency obligations (excluding MBS)
120
Securities issued by states and political subdivisions in the United States
121
Mortgage-backed securities
122
Other debt securities
123
Other trading assets
124 Trading assets in foreign offices
125
Revaluation gains on interest rate, foreign exchange rate, and other
commodity and equity contracts
126 Total individual retirement (IRA) and Keogh plan accounts
127 Total brokered deposits
128 Fully insured brokered deposits
129
Issued in denominations of less than $100,000
130
Issued in denominations of $100,000, or in denominations greater than $100,000 and
participated out by the broker in shares of $100,000 or less
131 Money market deposit accounts (MMDAs)
132 Other savings deposits (excluding MMDAs)
133 Total time deposits of less than $100,000
134 Total time deposits of $100,000 or more
135 Number of banks
NOTE. The notation "n.a." indicates the lesser detail available from banks that do not have
foreign offices, the inapplicability of certain items to banks that have only domestic offices, or
the absence of detail on a fully consolidated basis for banks that have foreign offices.
1. All transactions between domestic and foreign offices of a bank are reported in "net due
from" and "net due to" lines. All other lines represent transactions with parties other than the
domestic and foreign offices of each bank. Because these intra-office transactions are nullified
by consolidation, total assets and total liabilities for the entire bank may not equal the sum of
assets and liabilities, respectively, of the domestic and foreign offices.
512.203
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
180,465
256.595
38,032
7,397
5,368
11,837
65,955
48,218
0
495,467
239,859
37,784
7,044
5,126
8,897
53,435
47,853
0
16,736
248
353
242
2,939
12,520
365
0
154.931
n.a.
n.a.
n.a.
n.a.
79,788
168,996
296,677
166,227
71,356
154,862
79,719
73,149
164,314
74,284
46,062
69
95,847
132,364
91,943
25,294
28,222
1,342,940
424,985
288,156
420,452
66,649
584,853
266,522
397,206
317,619
n.a.
n.a.
n.a.
n.a.
n.a.
94,871
1,927,793
691,507
685,362
738.071
7,577
Foreign offices include branches in foreign countries, Puerto Rico, and US.-affiliated
insular areas; subsidiaries in foreign countries; all offices of Edge Act and agreement
corporations wherever located; and international banking facility (IBF).
2. Components of "Trading Assets at Large Banks" are reported only by banks that
reported trading assets of $2 million or more any quarter of the preceding calendar year.
60
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21, 58-59
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21, 58-59
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21, 58-59
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21, 58-59
Commercial and industrial loans, 15-21, 58-59
Consumer loans held, by type and terms, 34
Real estate mortgages held, by holder and property, 33
Time and savings deposits, 4
Commercial paper, 22, 23, 30
Condition statements (See Assets and liabilities)
Consumer credit, 34
Corporations
Security issues, 29, 55
Credit unions, 34
Currency in circulation, 5, 13
Customer credit, stock market, 24
DEBT (See specific types of debt or securities)
Demand deposits, 15-21
Depository institutions
Reserve requirements, 8
Reserves and related items, 4—6, 12
Deposits (See also specific types)
Commercial banks, 4, 15-21, 58-59
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
Discount rates (See Interest rates)
U.S. government securities held, 5, 10, 11, 25
Federal Reserve credit, 5, 6, 10, 12
Federal Reserve notes, 10
Federally sponsored credit agencies, 28
Finance companies
Assets and liabilities, 30
Business credit, 31
Loans, 34
Paper, 22, 23
Float, 5
Flow of funds, 35-39
Foreign currency operations, 10
Foreign deposits in U.S. banks, 5
Foreign exchange rates, 56
Foreign-related institutions, 20
Foreigners
Claims on, 45, 48^19, 52-53
Liabilities to, 45^17, 50-51, 54, 55
GOLD
Certificate account, 10
Stock, 5, 45
Government National Mortgage Association, 28, 32, 33
INDUSTRIAL production, 42, 43
Insurance companies, 25, 33
Interest rates
Bonds, 23
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22
International capital transactions of United States, 44—55
International organizations, 45, 46^17, 48, 50-55
Investment companies, issues and assets, 30
Investments (See also specific types)
Commercial banks, 4, 15-21
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Commercial banks, 15-21, 58-59
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Insured or guaranteed by United States, 32, 33
EURO, 56
FARM mortgage loans, 33
Federal agency obligations, 5, 9-11, 26, 27
Federal credit agencies, 28
Federal finance
Debt subject to statutory limitation, and types and ownership of
gross debt, 25
Federal Financing Bank, 28
Federal funds, 23
Federal Home Loan Banks, 28
Federal Home Loan Mortgage Corporation, 28, 32, 33
Federal Housing Administration, 28, 32, 33
Federal Land Banks, 33
Federal National Mortgage Association, 28, 32, 33
Federal Reserve Banks
Condition statement, 10
MANUFACTURING
Capacity utilization, 40, 41
Production, 42, 43
Margin requirements, 24
Member banks, reserve requirements, 8
Mining production, 43
Monetary and credit aggregates, 4, 12
Money and capital market rates, 23
Money stock measures and components, 4, 13
Mortgages (See Real estate loans)
Mutual funds, 13, 30
Mutual savings banks (See Thrift institutions)
OPEN market transactions, '
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22
Production, 42, 43
REAL estate loans
Banks, 15-21, 33
Terms, yields, and activity, 32
Type and holder and property mortgaged, 33
Reserve requirements, 8
Reserves
Commercial banks, 15-21
Depository institutions, 4—6
Federal Reserve Banks, 10
U.S. reserve assets, 45
Residential mortgage loans, 32, 33
Retail credit and retail sales, 34
SAVING
Flow of funds, 33, 34, 35-39
Savings deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-39
Securities (See also specific types)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21, 58-59
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44-55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting banks, 17, 18
YIELDS (See Interest rates)
61
@FedFRASER