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Volume 5 • Number 5 • May 2008
Statistical Supplement
to the Federal Reserve
BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS C O M M I T T E E
Rosanna Pianalto Cameron, Chair • Scott G. Alvarez • Sandra Braunstein • Roger T. Cole
• Marianne M. Emerson • Jennifer J. Johnson • Karen H. Johnson • Brian F. Madigan
• Stephen R. Malphrus • Louise L. Roseman • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin (1914-2003).
The Statistical Supplement began publication in
2004. It is designed as a compact source of economic
and financial data. All statistical series are published
with the same frequency that they had in the Bulletin,
and the numbering system for the tables remains the
same.
Subscription information for the Statistical Supplement is on the inside front cover. For subscription
information about the Bulletin, contact Publications
Fulfillment at (202) 452-3245, or send an e-mail
to publications-bog@frb.gov. The Supplement is
also available on the Board's website, at
www.federalreserve.gov/pubs/supplement.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886, or send an e-mail
to publications-bog@frb.gov.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of May 2008.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Factors affecting reserve balances of depository
institutions
6 Reserves and borrowings—Depository
institutions
Policy
Instruments
7 Federal Reserve Bank interest rates
8 Reserve requirements of depository institutions
9 Federal Reserve open market transactions
Federal Finance
25 Federal debt subject to statutory limitation
25 Gross public debt of U.S. Treasury—
Types and ownership
26 U.S. government securities
dealers—Transactions
27 U.S. government securities dealers—
Positions and financing
28 Federal and federally sponsored credit
agencies—Debt outstanding
Securities Markets and Corporate Finance
29 New security issues—State and local governments
29 New security issues—U.S. corporations
30 Open-end investment companies—Net sales
and assets
30 Domestic finance companies—Assets and liabilities
31 Domestic finance companies—Owned and managed
receivables
Federal Reserve Banks
10 Condition and Federal Reserve note statements
11 Maturity distribution of loans and securities
Monetary and Credit Aggregates
Real Estate
32 Mortgage markets—New homes
33 Mortgage debt outstanding
12 Aggregate reserves of depository institutions
and monetary base
13 Money stock measures
Commercial Banking Institutions—
Assets and Liabilities
15
16
17
19
20
21
All commercial banks in the United States
Domestically chartered commercial banks
Large domestically chartered commercial banks
Small domestically chartered commercial banks
Foreign-related institutions
Memo items
Consumer Credit
34 Total outstanding
34 Terms
Flow of Funds
35
37
38
39
Funds raised in U.S. credit markets
Summary of financial transactions
Summary of credit market debt outstanding
Summary of financial assets and liabilities
Financial Markets
22 Commercial paper outstanding
22 Prime rate charged by banks on short-term
business loans
23 Interest rates—Money and capital markets
24 Stock market—Selected statistics
DOMESTIC NONFINANCIAL STATISTICS
Selected
Measures
40 Output, capacity, and capacity utilization
42 Industrial production—Indexes and gross value
2
Federal Reserve Bulletin Statistical Supplement • May 2008
INTERNATIONAL STATISTICS
Summary Statistics
44 U.S. international transactions
44 U.S. reserve assets
45 Foreign official assets held at Federal Reserve
Banks
45 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
45
46
48
49
Liabilities to, and claims on, foreigners
Liabilities to foreigners
Banks' own claims on foreigners
Banks' own and domestic customers' claims on
foreigners
Reported by Nonbanking Business
Enterprises in the United States
50 Liabilities to unaffiliated foreigners
52 Claims on unaffiliated foreigners
Securities Holdings and Transactions
54 Foreign transactions in securities
55 Marketable U.S. Treasury bonds and
notes—Foreign transactions
Interest and Exchange Rates
56 Foreign exchange rates and indexes of the foreign
exchange value of the U.S. dollar
57 GUIDE TO SPECIAL TABLES
SPECIAL TABLES
58 Terms of lending at commercial banks,
February 4-8, 2008
64 Assets and liabilities of U.S. branches and
agencies of foreign banks, December 31, 2007
6 8 INDEX TO STATISTICAL
TABLES
70 FEDERAL RESERVE BOARD
PUBLICATIONS
72 ANTICIPATED
FOR PERIODIC
SCHEDULE
OF RELEASE
STATISTICAL
RELEASES
7 4 PUBLICATIONS
OF
DATES
INTEREST
75 FEDERAL RESERVE STATISTICAL
AVAILABLE ON THE COMMERCE
ECONOMIC BULLETIN
BOARD
RELEASES
DEPARTMENT'S
Symbols and Abbreviations
c
e
n.a.
n.e.c.
P
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
GDP
Corrected
Estimated
Not available
Not elsewhere classified
Preliminary
Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
Calculated to be zero
Cell not applicable
Asset-backed security
Automatic transfer service
Bank insurance fund
Certificate of deposit
Collateralized mortgage obligation
Community Reinvestment Act of 1977
Federal Agricultural Mortgage Corporation
Federal Financing Bank
Federal Financial Institutions Examination Council
Federal Housing Administration
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Farmers Home Administration
Federal National Mortgage Association
Farm Service Agency
Federal Savings and Loan Insurance Corporation
Group of Seven
Group of Ten
Gross domestic product
GNMA
GSE
HUD
IBF
IMF
IOs
IPCs
IRA
MMDA
MSA
NAICS
NOW
OCDs
OPEC
OTS
PMI
POs
REIT
REMICs
RHS
RP
RTC
SCO
SDR
SIC
STRIPS
TIIS
TIPS
VA
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International banking facility
International Monetary Fund
Interest-only, stripped, mortgage-backed securities
Individuals, partnerships, and corporations
Individual retirement account
Money market deposit account
Metropolitan statistical area
North American Industry Classification System
Negotiable order of withdrawal
Other checkable deposits
Organization of Petroleum Exporting Countries
Office of Thrift Supervision
Private mortgage insurance
Principal-only, stripped, mortgage-backed securities
Real estate investment trust
Real estate mortgage investment conduits
Rural Housing Service
Repurchase agreement
Resolution Trust Corporation
Securitized credit obligation
Special drawing right
Standard Industrial Classification
Separate trading of registered interest and principal
of securities
See TIPS
Treasury inflation-protected securities (formerly
TIIS, or Treasury inflation-indexed securities)
Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
4
1.10
Federal Reserve Bulletin Statistical Supplement • May 2008
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Ql
2
Reserves of depository institutions
1 Total
2 Required
3 Monetary base3
-7.8
-6.1
2.7
Concepts of money*
4 Ml
5 M2
8.3
8.1
2.3
-.1
-11.0
1.9
.9
6.1
-1.3
-4.7
5.9
1.0
-4.5
3.8
4.2
-3.5
1.4
-22.9
-20.4
-3.2
22.8
21.4
1.9
2.7
3.8
-3.1
4.6
.5
4.9
.6
8.0
2.9
16.8
4.6
23.5
1.0
42.6
6.5
25.7
2.7
2.3
16.2
2.5
-4.2
-26.4
2.7
-59.6
-3.1
-38.9
12.5
59.6
17.9
39.9
4.7
Nontransaction components
6 In M2S
Time and savings deposits
Commercial banks
Savings, including MMDAs . .
Small time1"
Thrift institutions
9
Savings, including MMDAs . .
10
Small time8
11.4
9.3
26.3
10.9
Money market mutual funds
11 Retail7
12 Institution-only
17.4
17.0
13.3
28.3
7
8
7.2
3.1
2.2
-1.3
1. Unless otherwise noted, rates of change are calculated from average amounts outstanding during the preceding month or quarter.
2. Figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements. (See also table 1.20.)
3. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all weekly reporters whose
vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted difference
between current vault cash and the amount applied to satisfy current reserve requirements.
4. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depository institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
6.7
5.3
-4.5
-3.4
21.0
39.7
20.4
54.1
P
3.4
3.1
-4.5
11.0
15.5
1.2
29.8
26.8
P
34.8
30.6
9.6
2.4
62.1
87.6
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement accounts (IRA) and Keogh balances at depository institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted Ml.
5. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances, each seasonally adjusted separately.
6. Small time deposits are those issued in amounts of less than $100,000. All IRA and
Keogh account balances at commercial banks and thrift institutions are subtracted from small
time deposits.
7. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Money Stock and Bank Credit
1.11
5
FACTORS AFFECTING RESERVE BALANCES OF DEPOSITORY INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
Jan. 16
Jan. 23
Jan. 30
Feb. 6
Feb. 13
Feb. 20
Feb. 27
866,968
713,364
713,364
200,360
470,010
38,437
4,558
0
43,536
60,000
223
220
0
3
-1,297
51,142
11,041
2,200
38,680
866,483
713,358
713,358
200,360
470,010
38,437
4,551
0
42,857
60,000
173
169
0
5
-1,112
51,207
11,041
2,200
38,680
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
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
Term auction credit
Other loans
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
20
21
22
23
24
25
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 .
871,803
764,359
764,359
251,631
470,984
36,911
4,834
0
45,040
10,968
3,765
3,735
1
29
-772
48,443
11,041
2,200
38,723
868,232
725,197
725,197
212,294
470,953
37,245
4,705
0
30,177
45,161
1,236
1,231
0
6
-1,061
67,521
11,041
2,200
38,681
864,149
713,367
713,367
200,360
470,010
38,437
4,560
0
33,871
60,000
172
169
0
3
-1,177
57,917
11,041
2,200
38,680
867,550
728,238
728,238
215,360
470,984
37,068
4,826
0
31,321
40,000
1,236
1,230
0
6
-1,045
67,799
11,041
2,200
38,681
861,622
723,298
723,298
210,360
470,984
37,463
4,491
0
21,500
50,000
752
744
0
8
-1,281
67,352
11,041
2,200
38,680
864,468
718,350
718,350
205,360
470,984
37,463
4,544
0
29,393
50,000
28
25
0
2
-1,149
67,846
11,041
2,200
38,680
861,801
713,379
713,379
200,360
470,010
38,437
4,572
0
21,679
60,000
145
144
-1,262
67,861
11,041
2,200
38,680
858,232
713,372
713,372
200,360
470,010
38,437
4,565
0
18,357
60,000
58
57
0
1
- 1 327
67,472
11,041
2,200
38,680
821,893
38,388
38,388
0
254
815,258
39,424
39,424
0
280
814,627
38,260
38,260
0
271
813,450
38,568
38,568
0
272
812,048
39,705
39,705
0
288
809,686
39,481
39,481
0
302
811,518
37,555
37,555
0
286
813,774
36,406
36,406
0
275
817,060
37,977
37,977
0
269
815,364
39,533
39,533
0
261
12,868
5,867
99
6,575
6,560
16
327
42,980
7,385
12,640
5,525
101
6,663
6,663
0
350
42,789
9,763
12,018
4,830
98
6,777
6,777
0
313
42,658
8,236
12,224
5,171
100
6,650
6,650
0
303
43,258
11,699
12,440
5,335
102
6,679
6,679
0
325
42,516
6,546
11,751
4,650
101
6,670
6,670
0
330
42,703
12,466
12,822
5,548
101
6,811
6,811
0
362
42,493
9,048
12,537
5,316
97
6,811
6,811
0
313
41,528
5,633
11,016
3,861
98
6,748
6,748
0
310
42,407
10,160
11,870
4,740
98
6,750
6,750
0
283
43,734
7,643
ABSORBING RESERVE FUNDS
26
27
28
29
30
31
32
33
End-of-month figures
Wednesday figures
Jan. 30
Feb. 6
Feb. 13
862,807
713,362
713,362
200,360
470,010
38,437
4,556
0
38,750
60,000
1,371
1,368
0
3
-1,273
50,597
11,041
2,200
38,680
879,232
713,355
713,355
200,360
470,010
38,437
4,549
0
54,500
60,000
687
683
0
4
-1,216
51,906
11,041
2,200
38,680
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
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
Term auction credit
Other loans
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
20
21
22
23
24
25
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 .
902,035
740,611
740,611
227,841
470,984
36,911
4,876
0
46,500
40,000
8,636
8,620
0
16
-19
66,306
11,041
2,200
38,681
865,193
713,382
713,382
200,360
470,010
38,437
4,576
0
25,500
60,000
38
36
0
3
-2,352
68,624
11,041
2,200
38,680
876,155
713,353
713,353
200,360
470,010
38,437
4,547
0
61,750
60,000
770
767
0
2
-1,085
41,367
11,041
2,200
38,680
878,976
728,259
728,259
215,360
470,984
37,463
4,452
0
39,000
40,000
5,567
5,557
0
10
-1,226
67,376
11,041
2,200
38,681
861,242
723,315
723,315
210,360
470,984
37,463
4,508
0
22,000
50,000
20
14
0
6
-1,555
67,463
11,041
2,200
38,680
885,571
718,371
718,371
205,360
470,984
37,463
4,564
0
50,000
50,000
46
43
0
3
-1,131
68,285
11,041
2,200
38,680
855,297
713,376
713,376
200,360
470,010
38,437
4,570
0
15,500
60,000
459
458
-1,595
67,556
11,041
2,200
38,680
867,668
713,369
713,369
200,360
470,010
38,437
4,563
0
28,000
60,000
39
38
0
1
-1,433
67,692
11,041
2,200
38,680
828,938
43,985
43,985
0
259
810,821
39,574
39,574
0
288
815,028
43,279
43,279
0
261
812,656
41,079
41,079
0
286
811,799
37,495
37,495
0
304
811,310
39,485
39,485
0
814,128
36,553
36,553
0
276
815,971
38,590
38,590
0
270
817,566
38,610
38,610
0
262
816,523
42,648
42,648
0
261
24,660
16,120
96
6,614
6,614
0
1,830
41,975
14,140
13,014
5,773
114
6,812
6,812
0
315
42,537
10,881
11,528
4,424
96
6,750
6,750
0
258
44,347
13,632
12,730
5,674
97
6,650
6,650
0
309
42,632
21,514
11,950
4,871
97
6,679
6,679
0
304
42,151
9,464
12,171
5,082
99
6,670
6,670
0
320
42,443
31,796
12,050
4,841
98
6,811
6,811
0
300
41,519
2,692
12,192
4,979
96
6,812
6,812
0
305
41,358
11,208
11,673
4,525
101
6,748
6,748
0
299
42,916
3,701
12,222
5,103
99
6,750
6,750
0
270
44,130
15,369
ABSORBING RESERVE FUNDS
26
27
28
29
30
31
32
33
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 • May 2008
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averag es 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
Secondary
Seasonal
Term auction credit
2007
2008
2005
2006
2007
Dec.
Dec.
Dec.
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
10,047
51,314
35,337
15,977
45,384
43,483
1,900
169
97
0
72
n.a.
8,479
50,897
34,803
16,094
43,282
41,420
1,862
191
111
0
80
n.a.
8,203
52,162
34,527
17,635
42,730
40,978
1,752
15,430
3,787
1
30
11,613
10,922
51,043
33,645
17,398
44,567
39,739
4,828
975
701
19
255
n.a.
8,757
49,633
33,479
16,154
42,236
40,510
1,726
1,567
1,345
0
221
n.a.
8,293
49,755
33,212
16,543
41,505
40,070
1,435
254
126
13
115
n.a.
8,553
48,995
33,342
15,653
41,895
40,199
1,696
366
315
0
50
n.a.
8,203
52,162
34,527
17,635
42,730
40,978
1,752
15,430
3,787
1
30
11,613
8,738
53,162
35,325
17,837
44,064
42,430
1,633
45,660
1,137
0
6
44,516
8,172
53,650
34,657
18,993
42,829
41,120
1,709
60,157
155
0
3
60,000
B weekly averages of daily figures for two-week periods ending on dates indicated
2007
1
2
3
4
5
6
7
8
9
10
11
12
2
Reserve balances with Reserve Banks
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
Secondary
Seasonal
Term auction credit
2008
Nov. 7
Nov. 21
Dec. 5
Dec. 19
Jan. 2
Jan. 16
Jan. 30
Feb. 13
Feb. 27
Mar. 12
8,762
48,358
32,590
15,769
41,351
39,492
1,859
264
191
0
74
n.a.
7,845
49,718
32,726
16,992
40,571
39,052
1,519
524
479
0
45
n.a.
9,494
48,367
34,886
13,482
44,380
42,534
1,845
199
158
0
41
n.a.
6,626
52,089
32,072
20,017
38,698
37,521
1,177
3,833
3,798
2
34
n.a.
9,505
53,828
37,242
16,586
46,747
44 364
2,383
35,308
5,286
0
21
30,000
7,961
51,444
32,043
19,402
40,004
38,290
1,713
41,377
1,371
0
6
40,000
9,506
54,544
38,456
16,088
47,962
46,518
1,444
50,390
385
0
5
50,000
7,341
56,556
33,624
22,932
40^965
39,306
1,659
60,102
101
0
1
60,000
8,901
51,578
35,986
15,592
44,887
43,088
1,799
60,198
195
0
4
60,000
8,468
49,273
32,074
17,200
40,541
39,132
1,409
60,231
227
0
3
60,000
1. Data in this table also appear in the Board's H.3 (502) weekly statistical release,
available at www.federalreserve.gov/releases. Data are not break-adjusted or seasonally
adj usted.
2. Excludes required clearing balances and adjustments to compensate for float and
includes other off-balance-sheet "as-of" adjustments.
3. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by
those banks and thrift institutions that are not exempt from reserve requirements. Dates
refer to the maintenance periods in which the vault cash can be used to satisfy reserve
requirements.
4. All vault cash held during the lagged computation period by "bound" institutions (that
is, those whose required reserves exceed their vault cash) plus the amount of vault cash
applied during the maintenance period by "nonbound'' institutions (that is, those whose vault
cash exceeds their required reserves) to satisfy current reserve requirements.
5. Total vault cash (line 2) less applied vault cash (line 3).
6. Reserve balances with Federal Reserve Banks (line 1) plus applied vault cash (line 3).
7. Total reserves (line 5) less required reserves (line 6).
Policy Instruments 1
1.14
FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
Primary credit1
L l—U-Ll i l l
l\.\_i\_l
Secondary credit2
Seasona credit3
VL-
Bank
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
On
6/6/08
Effective date
Previous rate
5/1/08
4/30/08
5/1/08
4/30/08
5/1/08
4/30/08
2.50
i
2.25
i
4/30/08
5/1/08
5/1/08
4/30/08
5/1/08
4/30/08
2.25
On
6/6/08
2.75
1
2.50
2.75
Effective date
Previous rate
5/1/08
4/30/08
5/1/08
4/30/08
5/1/08
4/30/08
3.00
i
4/30/08
5/1/08
5/1/08
4/30/08
5/1/08
4/30/08
On
6/6/08
Effective date
Previous rate
2.35
6/5/08
2.30
i
1
3.00
1
2.35
6/5/08
2.30
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
\\
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
3.50-3.75
3.75
3.75-4.00
4.00
4.00-4.25
4.25
4.25-4.50
3.50
3.50
3.75
3.75
4.00
4.00
4.25
4.25
4.50
Effective date
In effect Jan. 9, 2003
(beginning of program)
2
3
Mar. 22
24
May 3
4
June 30
July 1
Aug. 9
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2005—Aug. 10
Sept. 20
22
Nov. 1
2
Dec. 13
14
4.50
4.50^1.75
4.75
4.75-5.00
5.00
5.00-5.25
5.25
4.50
4.75
4.75
5.00
5.00
5.25
5.25
2006—Jan. 31
Feb. 2
Mar. 28
30
May 10
11
June 29
July 6
5.25-5.50
5.50
5.50-5.75
5.75
5.75-6.00
6.00
6.00-6.25
6.25
5.50
5.50
5.75
5.75
6.00
6.00
6.25
6.25
2007—Aug. 17
20
Sept. 18
20
Oct. 31
Nov. 1
Dec. 11
13
5.75-6.25
5.75
5.25-5.75
5.25
5.00-5.25
5.00
4.75-5.00
4.75
5.75
5.75
5.25
5.25
5.00
5.00
4.75
4.75
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
4.00^1.75
4.00
3.50^1.00
3.50
3.25-3.50
2.50-3.50
2.50
2.25-2.50
2.25
4.00
4.00
3.50
3.50
3.25
2.50
2.50
2.25
2.25
2.25
2.25
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2001—June 27
29
Aug. 21
23
Sept. 17
18
Oct. 2
4
Nov. 6
8
Dec. 11
13
3.25-3.50
3.25
3.00-3.25
3.00
2.50-3.00
2.50
2.00-2.50
2.00
1.50-2.00
1.50
1.25-1.50
1.25
3.25
3.25
3.00
3.00
2.50
2.50
2.00
2.00
1.50
1.50
1.25
1.25
2002—Nov. 6
7
0.75-1.25
0.75
0.75
0.75
0.75
0.75
Effective date
2008—Jan. 22
24
30
31
Mar. 17
18
20
Apr. 30
May 1
In effect June 6, 2008
Range of rates for adjustment credit in recent years4
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
In effect Dec. 31, 1995
5.25
5.25
1996—Jan. 31
Feb. 3
5.00-5.25
5.00
5.00
5.00
1998—Oct. 15
16
Nov. 17
19
4.75-5.00
4.75
4.50-4.75
4.50
4.75
4.75
4.50
4.50
1999—Aug. 24
26
Nov. 16
18
4.50-4.75
4.75
4.75-5.00
5.00
4.75
4.75
4.75
5.00
Effective date
Effective date
2000—Feb.
2
4
Mar. 21
23
May 16
19
2001—Jan.
Feb.
Mar.
Apr.
May
3
4
5
31
1
20
21
18
20
15
17
1. Available for very short terms as a backup source of liquidity to depository institutions
that are in generally sound financial condition in the judgment of the lending Federal Reserve
Bank.
2. Available in appropriate circumstances to depository institutions that do not qualify for
primary credit.
3. Available to help relatively small depository institutions meet regular seasonal needs for
funds that arise from a clear pattern of intrayearly movements in their deposits and loans. The
discount rate on seasonal credit takes into account rates charged on market sources of funds
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.00-5.25
5.25
5.25-5.50
5.50
5.50-6.00
6.00
5.25
5.25
5.50
5.50
5.50
6.00
5.75-6.00
5.50-5.75
5.50
5.00-5.50
5.00
4.50-5.00
4.50
4.00^1.50
4.00
3.50^1.00
3.50
5.75
5.50
5.50
5.00
5.00
4.50
4.50
4.00
4.00
3.50
3.50
Effective date
In effect Jan. 8, 2003
(end of program)
and ordinarily is reestablished on the first business day of each two-week reserve maintenance
period.
4. Was available until January 8, 2003, to help depository institutions meet temporary
needs for funds that could not be met through reasonable alternative sources. For earlier data,
see the following publications of the Board of Governors: Banking and Monetary Statistics,
1914-1941, and 1941-1970; the Annual Statistical Digest, 1970-1979, 1980-1989, and
1990-1995; and the Statistical Digest, 1996-2000. See also the Board's Statistics: Releases
and Historical Data webpages www.federalreserve.gov/releases/H15/data.htm.
8
1.15
Federal Reserve Bulletin Statistical Supplement • May 2008
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Percentage of
liabilities
Effective date
0
3
10
12/21/07
12/21/07
12/21/07
4 Nonpersonal time deposits
0
12/27/90
5 Eurocurrency liabilities
0
12/27/90
Net transaction accounts*
1 $0 million-$9.3 million2
2 More than $9.3 million-$43.9 million3
3 More than $43.9 million
NOTE: Required reserves must be held in the form of vault cash and, if vault cash is
insufficient, also in the form of a deposit with a Federal Reserve Bank. An institution that is a
member of the Federal Reserve System must hold that deposit directly with a Reserve Bank;
an institution that is not a member of the System can maintain that deposit directly with a
Reserve Bank or with another institution in a pass-through relationship. Reserve requirements
are imposed on commercial banks, savings banks, savings and loan associations, credit
unions, U.S. branches and agencies of foreign banks, Edge Act corporations, and agreement
corporations.
1. Total transaction accounts consist of demand deposits, automatic transfer service (ATS)
accounts, NOW accounts, share draft accounts, telephone or preauthorized transfer accounts,
ineligible acceptances, and obligations issued by affiliates maturing in seven days or less. Net
transaction accounts are total transaction accounts less amounts due from other depository
institutions and less cash items in the process of collection.
For a more detailed description of these deposit types, see Form FR 2900 at
www.federalreserve.gov/boarddocs/reportforms.
2. The amount of net transaction accounts subject to a reserve requirement ratio of zero
percent (the "exemption amount" ) is adjusted each year by statute. The exemption amount is
adjusted upward by 80 percent of the previous year's (June 30 to June 30) rate of increase in
total reservable liabilities at all depository institutions. No adjustment is made in the event of
a decrease in such liabilities.
3. The amount of net transaction accounts subject to a reserve requirement ratio of 3
percent is the "low reserve tranche." By statute, the upper limit of the low reserve tranche is
adjusted each year by 80 percent of the previous year's (June 30 to June 30) rate of increase or
decrease in net transaction accounts held by all depository institutions.
Policy Instruments
1.17
9
FEDERAL RESERVE OPEN MARKET TRANSACTIONS'
Millions of dollars
Type of transaction
and maturity
Aug.
Sept.
2
U.S. TREASURY SECURITIES
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
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
8,300
0
871,661
871,661
0
5,748
0
905,206
905,206
0
0
0
839,688
839,688
49,178
0
72,690
72,690
0
0
0
75,502
75,502
10,000
0
62,083
62,083
0
0
62,143
62,143
0
0
0
83,590
83,590
0
0
0
24,580
24,580
39,178
0
35,011
35,011
27,481
2,894
0
109,557
-108,098
2,795
4,967
0
0
0
10,552
2,211
0
0
0
1,236
0
0
0
0
0
0
0
0
0
1,236
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
-552
11,309
0
-91,121
97,723
26,354
0
0
7,539
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
3,626
0
-7,041
7,375
4,322
0
290
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,007
0
-11,395
3,000
3,299
0
0
0
640
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
28,136
0
2,795
44,690
0
10,552
10,680
0
50,415
0
0
11,236
0
0
0
0
0
39,178
0
0
26,929
2,097,050
2,125,500
2,596,750
185,000
180,000
209,000
200,750
236,500
230,250
268,750
265,000
318,750
319,750
249,250
250,250
203,500
224,500
6,421,223
6,420,945
6,779,023
6,778,132
8,662,508
8,676,879
673,157
673,778
722,358
725,162
669,935
669,850
786,360
788,726
715,682
713,543
761,133
769,202
830,931
826,520
Net change in temporary transactions
14,028
-5,110
-8,621
4,379
5,446
6,334
1,385
1,139
-9,070
-16,589
Total net change in System Open Market Account
39,369
29,029
^18,355
4,379
-5,791
6,334
1,385
1,139
-48,248
-43^17
26 Net change in U.S. Treasury securities . . . .
FEDERAL AGENCY OBLIGATIONS
Outright transactions
Gross purchases
Gross sales
Redemptions
Net change in federal agency obligations
TEMPORARY TRANSACTIONS
Repurchase agreements^
Gross purchases
Gross sales
Matched sale-purchase agreements
i Gross purchases
• Gross sales
Reverse repurchase agreements*
Gross purchases
Gross sales
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 • May 2008
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
End of month
Consolidated condition statement
ASSETS
11,037
2,200
1,369
11,037
2,200
1,388
11,037
2,200
1,380
11,037
2,200
1,359
11,037
2,200
1,352
11,037
2,200
1,179
11,037
2,200
1,396
11,037
2,200
1,374
818,417
718,371
718,371
205,360
470,984
37,463
4,564
0
50,000
50,000
46
1,725
2,140
66,167
47,772
18,395
789,336
713,376
713,376
200,360
470,010
38,437
4,570
0
15,500
60,000
459
1,817
2,132
65,374
47,185
18,190
801,408
713,369
713,369
200,360
470,010
38,437
4,563
0
28,000
60,000
39
1,376
2,132
65,564
46,881
18,683
813,484
713,362
713,362
200,360
470,010
38,437
4,556
0
38,750
60,000
1,371
2,914
2,134
48,330
33,299
15,031
828,542
713,355
713,355
200,360
470,010
38,437
4,549
0
54,500
60,000
687
1,565
2,138
49,766
34,231
15,535
835,748
740,611
740,611
227,841
470,984
36,911
4,876
0
46,500
40,000
8,636
1,804
2,144
64,164
47,295
16,868
798,921
713,382
713,382
200,360
470,010
38,437
4,576
0
25,500
60,000
38
1,172
2,133
65,400
47,663
17,737
835,873
713,353
713,353
200,360
470,010
38,437
4,547
0
61,750
60,000
770
1,344
2,144
39,097
24,210
14,887
903,055
873,285
885,097
881,457
896,599
918,275
882,258
893,069
774,282
39,485
43,998
38,497
5,082
99
320
2,847
4,546
777,108
36,553
14,694
9,456
4,841
98
300
3,411
4,121
778,937
38,590
23,404
18,024
4,979
96
305
2,808
3,975
780,503
38,610
15,249
10,323
4,525
101
299
4,180
4,394
779,452
42,648
27,595
22,123
5,103
99
270
2,774
4,716
791,691
43,985
38,813
20,767
16,120
96
1,830
1,811
5,076
773,820
39,574
23,861
17,659
5,773
114
315
2,466
4,485
777,979
43,279
25,035
20,257
4,424
96
258
2,429
4,465
865,158
835,887
847,714
842,935
857,185
881,376
844,206
853,187
31 Capital paid in
32 Surplus
33 Other capital accounts
18,472
18,480
945
18,477
18,457
464
18,486
18,448
449
19,353
18,457
713
19,395
18,457
1,562
18,450
18,450
0
18,471
18,487
1,095
19,395
18,458
2,030
34 Total capital
37,897
37,398
37,383
38,522
39,414
36,899
38,052
39,882
2,118,480
1,263,048
855,431
11,461
2,112,259
1,267,216
845,043
13,296
2,121,881
1,270,783
851,098
10,971
2,135,053
1,266,381
868,672
16,035
2,147,318
1,276,392
870,926
20,365
2,062,692
1,232,649
830,044
16,649
2,124,119
1,269,386
854,733
12,605
2,152,860
1,283,209
869,651
19,260
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Gold certificate account
Special drawing rights certificate account
Coin
Securities, repurchase agreements, term auction credit,
and other loans
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Term auction credit
Other loans
Items in process of collection
Bank premises
Other assets
Denominated in foreign currencies'"
All other7
20 Total assets
LIABILITIES
21
22
23
24
25
26
27
28
29
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
30 Total liabilities
CAPITAL ACCOUNTS
MEMO
35 Marketable securities held in custody for foreign official
and international accounts3-10
36
U.S. Treasury
37
Federal agency
38 Securities lent to dealers
Federal Reserve notes and collateral statement
39 Federal Reserve notes outstanding
40
Less: Notes held by F.R. Banks not
subject to collateralization
41
Federal Reserve notes to be collateralized
42 Collateral held against Federal Reserve notes
43
Gold certificate account
44
Special drawing rights certificate account
45
U.S. Treasury and agency securities pledged1'
46
Other assets pledged
1,001,165
999,251
998,560
997,947
996,021
1,010,261
226,883
774,282
774,282
11,037
2,200
728,856
32,189
222,143
777,108
777,108
11,037
2,200
692,295
71,576
219,623
778,937
778,937
11,037
2,200
702,743
62,958
217,444
780,503
780,503
11,037
2,200
713,467
53,799
216,570
779,452
779,452
11,037
2,200
725,166
41,049
218,571
791,691
791,691
11,037
2,200
743,064
35,390
226,603
773,820
773,820
11,037
2,200
699,289
61,295
217,314
777,979
777,979
11,037
2,200
731,765
32,977
768,371
728,876
741,369
752,112
767,855
787,111
738,882
775,103
39,515
36,581
38,627
38,646
42,689
44,048
39,594
43,338
728,856
692,295
702,743
713,467
725,166
743,064
699,289
731,765
995,293
MEMO
47 Total U.S. Treasury and agency securities"
48
Less: face value of securities under reverse repurchase
agreements12
49
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
End of month
Type of holding and remaining maturity
1 Term auction credit . .
2 Within 15 days
3 16 days to 90 days .
50,000
0
60,000
60,000
60,000
60,000
40,000
60,000
60,000
30,000
30,000
60,000
30,000
30,000
60,000
0
0
40,000
30,000
30,000
30,000
30,000
8,636
38
34
5
1,368
4
687
0
0
8,630
6
31
769
1
0
4 Other loans
5 Within 15 days
6 16 days to 90 days .
7 91 days to 1 year . .
40
7
0
8 Total U.S. Treasury securities'
9
10
11
12
13
14
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
15 Total federal agency securities
Within 15 days
16 days to 90 days
91 days to 1 year
Over 1 year to 5 years . . .
Over 5 years to 10 years .
Over 10 years
Within 15 days
16 days to 90 days .
Within 15 days
16 days to 90 days .
713,376
713,369
713,362
713,355
740,611
713,382
713,353
48,770
115,775
149,079
231,432
84,407
88,909
54,661
104,384
146,948
233,089
84,408
89,887
53,488
105,884
146,619
233,087
84,406
89,884
48,171
114,849
135,884
231,343
88,939
94,177
47,921
116,819
134,163
231,341
88,938
94,174
27,294
149,727
152,267
240,562
81,947
88,814
40,975
110,504
151,542
236,062
84,409
89,890
28,501
133,187
137,565
230,989
88,937
94,173
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
50,000
15,500
28,000
38,750
54,500
46,500
25,500
61,750
50,000
0
15,500
0
28,000
0
38,750
0
54,500
0
46,500
0
25,500
0
61,750
0
39,485
36,553
38,590
38,610
42,648
39,574
43,279
39,485
0
36,553
38,590
0
38,610
0
42,648
39,574
0
43,279
0
0
0
0
0
22 Total repurchase agreements2
25 Total reverse repurchase agreements
718,371
2
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.
2. Cash value of agreements.
43,985
0
12
Federal Reserve Bulletin Statistical Supplement • May 2008
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2007
2004
Dec.
2005
Dec.
2006
Dec.
2007
Dec.
July
Aug.
Sept.
2008
Oct.
Nov.
Dec.
Jan.
Feb.
42.54
42.28
41.10
824.74
42.68
42.31
40.98
825.67
42.60
27.17
40.85
823.39
41.79
-3.87
40.15
821.16
42.58
-17.58
40.87
822.45
Seasonall / adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
46.60
46.54
44.69
759.26
45.14
44.98
43.24
787.31
43.32
43.13
41.46
811.82
42.60
27.17
40.85
823.39
41.78
41.52
40.15
821.34
44.87
43.90
40.04
824.45
42.70
41.13
40.97
821.89
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7
Monetary bases
46.52
46.46
44.61
764.66
45.14
44.97
43.24
793.38
43.36
43.17
41.50
818.40
42.81
27.38
41.06
829.81
42.69
42.43
41.06
821.92
44.67
43.70
39.85
823.04
42.36
40.79
40.63
820.02
41.64
41.39
40.21
821.91
42.04
41.67
40.34
826.71
42.81
27.38
41.06
829.81
44.06
-1.60
42.43
824.44
42.85
-17.30
41.15
821.89
46.85
46.79
44.94
774.77
1.91
.06
45.38
45.22
43.48
802.30
1.90
.17
43.28
43.09
41.42
825.29
1.86
.19
42.73
27.30
40.98
836.35
1.75
15.43
42.59
42.33
40.96
828.31
1.64
.26
44.57
43.59
39.74
829.68
4.83
42.24
40.67
40.51
826.57
1.73
1.57
41.51
41.25
40.07
828.38
1.44
.25
41.90
41.53
40.20
833.10
1.70
.37
42.73
27.30
40.98
836.35
1.75
15.43
44.06
-1.60
42.43
831.11
1.63
45.66
42.83
-17.33
41.12
828.66
1.71
60.16
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS9
9
10
11
12
13
14
Total reserves10
Nonborrowed reserves
Required reserves
Monetary base"
Excess reserves'2
Borrowings from the Federal Reserve
1. Latest monthly and biweekly figures are available from the Board's H.3 (502) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 and estimates of the effect on required reserves of changes in reserve requirements are
available from the Monetary and Reserve Analysis Section, Division of Monetary Affairs,
Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory
changes in reserve requirements. (See also table 1.10.)
3. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, breakadjusted required reserves (line 3) plus excess reserves (line 13).
4. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted,
break-adjusted total reserves (line 1) less total borrowings of depository institutions from the
Federal Reserve (line 14).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters
whose vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
6. Break-adjusted total reserves equal break-adjusted required reserves (line 7) plus excess
reserves (line 13).
7. To adjust required reserves for discontinuities that are due to regulatory changes in
reserve requirements, a multiplicative procedure is used to estimate what required reserves
would have been in past periods had current reserve requirements been in effect. Breakadjusted required reserves include required reserves against transactions deposits and nonpersonal time and savings deposits (but not reservable nondeposit liabilities).
8. The break-adjusted monetary base equals (1) break-adjusted total reserves (line 5), plus
(2) the (unadjusted) currency component of the money stock, plus (3) (for all quarterly
reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required reserves) the break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
9. Reflects actual reserve requirements, including those on nondeposit liabilities, with no
adjustments to eliminate the effects of discontinuities associated with regulatory changes in
reserve requirements.
10. Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve
requirements.
11. The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total
reserves (line 9), plus (2) required clearing balances and adjustments to compensate for float
at Federal Reserve Banks, plus (3) the currency component of the money stock, plus (4) (for
all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault
Cash" and for all those weekly reporters whose vault cash exceeds their required reserves)
the difference between current vault cash and the amount applied to satisfy current reserve
requirements. Since February 1984, currency and vault cash figures have been measured over
the computation periods ending on Mondays.
12. Unadjusted total reserves (line 9) less unadjusted required reserves (line 11).
Monetary and Credit Aggregates
1.21
13
MONEY STOCK MEASURES1
Billions of dollars, averages of daily figures
2004
Dec.
2005
Dec.
2006
Dec.
2007
Dec.
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1.376.3
6,418.8
9.433.0
1,374.5
6,689.1
10,154.0
1,366.5
7,031.9
n.a.
1,366.3
7,428.0'
n .a.
1,365.7
7,398.0
n.a.
1,366.3
7,428.0'
n.a.
1,367.0
7,477.4
n.a.
1,370.3
7,581.9
n.a.
697.6
7.5
343.2
328.0
723.9
7.2
324.9
318.5
748.9
6.7
305.9
305.0
758.7
6.3
295.2
306.1
761.1
6.3
296.9
301.4
758.7
6.3
295.2
306.1
757.7
6.2
295.1
307.9
758.6
6.2
293.6
311.9
5,042.5
3,011.1
5,314.6
3,478.5
5,665.4
n.a.
6,061.7'
n .a.
6,032.3'
n.a.
6,061.7'
n.a.
6,110.4'
n.a.
6,211.6
n.a.
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,631.0
551.2
909.3
2,771.5
644.9
1,122.9
2,904.0
759.2
n.a.
3,034.1
821.6'
n .a.
3,027.2
819.3
n.a.
3,034.1
821.6'
n.a.
3,039.8
823.7
n.a.
3,080.8
825.4
n.a.
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
887.3
278.8
161.5
849.9
351.3
230.7
792.9
412.4
n.a.
853.6
394.8
n .a.
856.8
394.4
n.a.
853.6
394.8
n.a.
861.4
399.9
n.a.
868.3
400.7
n.a.
694.2
1,085.7
697.0
1,150.4
796.8
1,348.2
957.7
1,882.8
934.5
1,841.6
957.7
1,882.8
985.5
1,930.8
1,036.5
2,071.7
492.6
379.1
564.3
423.9
n.a.
n.a.
n .a.
n .a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4
5
6
7
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
Nontransaction components
8 In M27
9 In M3 onlys
Money market mutual funds
16 Retail12
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
Not seasons lly adjusted
2
Measures
20 Ml
21 M2
22 M3
1,401.3
6,448.6
9,482.2
1,396.6
6,719.1
10,201.4
1,387.3
7,067.6
n.a.
1,386.0
7,466.1'
1,361.8'
7,399.5
1,386.0
7,466.1'
n.a.
1,364.1
7,463.3'
1,349.1
7,549.7
702.4
7.5
358.6
332.8
728.9
7.2
337.7
322.8
754.5
6.7
316.7
309.3
763.8
6.3
305.1
310.8
762.2
6.3
298.0
295.4
763.8
6.3
305.1
310.8
755.4
6.2
290.3
312.1
758.6
6.1
279.9
304.5
Nontransaction components
27 In M27
28 In M3 onlys
5,047.4
3,025.4
5,322.5
3,488.3
5,680.4
n.a.
6,080.2'
n.a.
6,099.2'
n.a.
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
2,633.2
550.4
903.3
2,776.1
644.1
1,114.4
2,913.1
758.6
n.a.
3,044.0
821.6'
3,030.9
821.8
3,044.0
821.6'
n.a.
3,022.0
823.5'
3,065.8
825.5
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
888.0
278.4
160.4
851.3
350.8
228.9
795.4
412.1
n.a.
856.3
394.8
857.8
395.6
856.3
394.8
n.a.
856.3
399.8
n.a.
864.1
400.7
697.2
1,110.5
700.3
1,176.4
801.1
1,381.0
963.5
1,930.5
931.5
1,863.7
963.5
1,930.5
997.6
1,974.7
1,044.6
2,091.8
494.6
376.6
566.1
422.0
n.a.
n.a.
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.
n.a.
n.a.
14
Federal Reserve Bulletin Statistical Supplement • May 2008
NOTES TO TABLE 1.21
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
1. Latest monthly and weekly figures are available from the Board's H.6 (508) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 are available from the Monetary and Reserves Analysis 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. do liar-denominated travelers checks ofnonbank issuers.
Travelers checks issued by depository institutions are included in demand deposits.
5. Demand deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations (excluding those amounts held by
depository institutions, the U.S. government, and foreign banks and official institutions) less
cash items in the process of collection and Federal Reserve float.
6. Consists of NOW and ATS account balances at all depository institutions, credit union
share draft account balances, and demand deposits at thrift institutions.
7. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances.
8. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted.
9. Small time deposits are those issued in amounts of less than $100,000. All IRAs and
Keogh accounts at commercial banks and thrift institutions are subtracted from small time
deposits.
10. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
11. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
12. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
A. All commercial banks
15
Assets and Liabilities'
Billions of dollars
Wednesday figures
Monthly averages
Account
Apr.
Oct.
Nov.
2008
2008
2007
2007
Dec.
Jan.'
Feb.'
Mar.'
Apr.
Apr. 9
Apr. 16
Apr. 23
Apr. 30
Seasonally adjusted
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
8,515.3
2.265.0
1,178.4
1,086.6
6,250.2
1,232.4
3,406.2
461.2
2,945.1
751.5
278.7
581.3
360.9
290.7
863.1
9,055.6'
2,408.5
1,140.2
1,268.4
6,647.1
1,385.9'
3,533.4'
475.1
3,058.3'
789.0
274.2
664.6
409.0
293.9
928.3
9,186.2
2,473.5
1,132.8
1,340.7
6,712.7
1,403.3'
3,559.7'
478.6
3,081.1'
796.2
285.5
667.9
422.6
298.9
945.3
9,217.9'
2,435.3
1,131.8
1,303.5
6,782.6
1,430.1'
3,576.2'
482.8
3,093.4'
809.1
291.6'
675.6'
435.5
294.1
952.2'
9,280.8
2,438.3
1,108.0
1,330.3
6^842.5
1,448.1
3,594.5
486.3
3,108.2
811.6
305.4
682.9
443.0
297.9
968.8
9,350.1
2,468.8
1,106.8
1,362.0
6,881.3
1,457.1
3,621.2
491.0
3,130.2
811.9
298.8
692.3
456.0
301.5
971.4
9,500.8
2,577.1
1,128.2
1,448.9
6,923.6
1,479.9
3,656.5
498.6
3,157.9
814.9
292.3
680.0
445.8
303.0
1,019.4
9,422.4
2,530.7
1,110.1
1,420.5
6,891.8
1,489.8
3,651.5
506.8
3,144.7
821.2
283.2
646.1
442.6
304.1
1,012.9
9,440.8
2,568.9
1,119.0
1,449.9
6,871.9
1,485.2
3,651.1
504.6
3,146.5
815.7
278.6
641.3
434.6
315.6
1,001.2
9,409.2
2,524.1
1,100.2
1,423.8
6,885.2
1,496.3
3,649.3
506.4
3,142.9
823.0
272.6
644.0
435.6
298.8
992.8
9,414.8
2,527.8
1,105.5
1,422.4
6,886.9
1,491.2
3,645.0
508.0
3,136.9
822.6
283.7
644.5
450.5
302.4
1,024.8
9,421.4
2,494.9
1,109.6
1,385.2
6,926.5
1,489.3
3,661.4
509.6
3,151.8
825.6
297.5
652.8
450.3
300.1
1,028.2
9,961.4
10,612.1'
10,776.8
10,820.6'
10,906.7
10,993.5
11,182.0
11,087.1
11,096.8
11,041.3
11,097.1
11,104.7
6,263.0r
629.1'
5,633.9'
1,740.2
3,893.7'
2,062.8
429.5
1,633.3
-10.1
590.0
6,558.3
626.8
5,931.5
1,961.1
3,970.4
2,218.3
471.6
1,746.7
73.8
621.4
6,636.1
609.6
6,026.5
2,027.8
3,998.7
2,234.7
474.3
1,760.4
86.5
658.4
6,656.9
599.8'
6,057.0
2,036.2
4,020.8
2,273.5
501.8
1,771.7
76.5'
657.3
6,698.1
614.8
6,083.3
2,068.3
4,015.1
2,275.5
501.6
1,773.9
88.1
707.6
6,776.1
618.5
6,157.6
2,095.9
4,061.7
2,278.4
505.0
1,773.4
75.0
712.7
6,873.5
613.0
6,260.5
2,105.2
4,155.4
2,305.5
500.2
1,805.3
62.3
785.8
6,855.9
636.1
6,219.8
2,081.2
4,138.6
2,295.8
491.0
1,804.8
30.4
741.3
6,826.8
624.9
6,201.9
2,075.6
4,126.3
2,281.5
490.6
1,790.8
53.0
762.8
6,864.2
626.4
6,237.8
2,073.1
4,164.6
2,265.9
473.2
1,792.7
29.2
731.1
6,893.4
626.0
6,267.3
2,103.8
4,163.5
2,293.5
497.7
1,795.8
2.4
739.3
6,839.4
677.2
6,162.2
2,071.3
4,090.9
2,337.0
503.5
1,833.5
39.0
727.0
27 Total liabilities
8,905.7'
9,471.8
9,615.6
9,664.2
9,769.3
9,842.1
10,027.1
9,923.3
9,924.0
9,890.4
9,928.6
9,942.4
28 Residual (assets less liabilities)5
1,055.7'
1,140.3'
1,161.2
1,156.4'
1,137.4
1,151.4
1,154.9
1,163.8
1,172.8
1,150.9
1,168.5
1,162.3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16 Total assets7
liabilities
17
18
19
20
21
22
23
24
25
26
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
Not seasona lly adjusted
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 assets6
8,506.3
2,283.5
1,194.6
1,088.9
6,222.7
1,233.9
3,382.8
457.2
2,925.6
745.9
314.0
431.8
282.0
578.2
367.6
287.7
861.5
9,068.3
2,395.7
1,126.8
1,268.8
6,672.6'
1,387.6'
3,565.5'
477.8
3,087.7'
783.8
331.5
452.3
271.0
664.8
409.9
291.8
936.6
9,232.2
2,477.5
1,126.5
1,351.0
6,754.7
1,406.3'
3,600.2'
482.4
3,117.8'
796.4
343.1
453.3
285.0
666.8
432.9
303.7
945.4
9,264.6
2,419.8
1,111.6
1,308.3
6,844.8'
1,435.7'
3,609.4'
486.6
3,122.8'
818.5
365.7
452.8
299.5'
681.7'
451.8
309.5
951.7'
9,317.7
2,429.4
1,091.9
1,337.5
6,888.3
1,452.2
3,616.9
490.1
3,126.8
828.2
361.7
466.6
307.2
683.9
448.0
312.8
968.5
9,376.1
2,481.0
1,111.8
1,369.2
6,895.1
1,460.6
3,628.4
493.9
3,134.5
818.1
346.9
471.2
300.9
687.2
461.3
301.5
972.7
9,476.9
2,581.5
1,138.4
1,443.1
6,895.4
1,478.9
3,630.8
496.4
3,134.3
810.5
337.8
472.7
301.9
673.3
450.5
294.6
1,013.1
9,399.6
2,546.4
1,124.5
1,421.9
6,853.2
1,489.3
3,620.8
502.1
3,118.7
816.3
338.5
477.8
284.7
642.1
450.2
301.1
1,008.7
9,404.0
2,576.4
1,129.8
1,446.6
6,827.6
1,477.5
3,627.0
498.6
3,128.4
807.2
332.4
474.8
279.4
636.5
447.2
298.4
1,007.4
9,390.4
2,538.8
1,109.1
1,429.6
6,851.6
1,495.0
3,619.9
501.6
3,118.3
818.6
342.0
476.6
276.8
641.4
448.3
298.7
990.2
9,398.7
2,550.4
1,125.3
1,425.1
6,848.2
1,493.7
3,613.8
504.0
3,109.8
821.3
341.2
480.1
280.8
638.7
444.2
297.9
1,014.6
9,404.3
2,517.3
1,129.6
1,387.7
6,887.0
1,493.5
3,624.2
505.5
3,118.8
820.9
340.3
480.6
299.3
649.1
460.9
311.2
1,017.8
9,954.6
10,632.2'
10,838.3
10,897.9'
10,962.8
11,025.6
11,147.7
11,064.7
11,061.9
11,032.4
11,060.1
11,098.5
6,302.9'
636.9'
5,666.0'
1,760.2
3,905.8'
2,068.4
435.0
1,633.4
-56.9
579.0
6,567.4
615.9
5,951.5
1,966.2
3,985.4
2,209.7
465.0
1,744.7
90.5
630.8
6,674.2
613.4
6,060.9
2,033.2
4,027.6
2,239.6
479.0
1,760.6
94.4
679.4
6,710.8
627.9
6,082.9
2,033.5'
4,049.4
2,281.3
511.9
1,769.3
95.6
660.7
6,713.5
627.7
6,085.8
2,074.2
4,011.6
2,277.4
509.0
1,768.5
116.4
701.5
6,773.5
609.8
6,163.6
2,093.7
4,069.9
2,285.5
506.8
1,778.7
89.9
707.7
6,868.0
616.2
6,251.7
2,106.2
4,145.6
2,311.7
503.6
1,808.0
30.4
763.0
6,894.3
644.2
6,250.1
2,104.0
4,146.1
2,299.1
497.4
1,801.7
-23.8
728.2
6,914.3
584.9
6,329.4
2,106.3
4,223.1
2,263.6
496.4
1,767.2
-30.9
743.1
6,950.2
643.7
6,306.5
2,092.3
4,214.3
2,237.0
481.8
1,755.2
-35.5
718.4
6,863.4
671.6
6,191.8
2,120.0
4,071.7
2,306.8
494.9
1,811.9
-10.8
732.7
6,841.7
688.9
6,152.9
2,097.9
4,055.0
2,390.9
517.7
1,873.1
-15.3
716.9
57 Total liabilities
8,893.3'
9,498.3
9,687.6
9,748.4'
9,808.8
9,856.6
9,973.0
9,897.8
9,890.1
9,870.1
9,892.1
9,934.2
58 Residual (assets less liabilities)5
1,061.2'
1,133.9
1,150.7
1,149.5'
1,154.1
1,168.9
1,174.7
1,166.9
1,171.8
1,162.2
1,167.9
1,164.4
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46 Total assets7
liabilities
47
48
49
50
51
52
53
54
55
56
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
Footnotes appear on p. 21.
16
Federal Reserve Bulletin Statistical Supplement • May 2008
1.26
COMMERCIAL BANKS IN THE UNITED STATES
B. Domestically chartered commercial banks
Assets and Liabilities' —Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Apr.
Oct.
Nov.
2008
2008
2007
2007
Dec.
Jan.'
Feb.'
Mar.'
Apr.
Apr. 9
Apr. 16
Apr. 23
Apr. 30
Seasonally adjusted
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
7,506.1
1.852.8
1,092.9
759.9
5,653.3
1,006.9
3,378.2
461.1
2,917.1
751.5
119.5
397.2
300.7
239.4
825.4
7,927.6
1,946.7
1,046.6
900.2
5,980.9
1,125.4'
3,497.7'
475.1
3,022.6'
789.0
133.5
435.2
330.0
235.1
882.7
8,026.7
1,992.3
1,040.1
952.2
6,034.4
1,133.8'
3,523.1'
478.6
3,044.5'
796.2
141.6
439.8
343.2
242.2
897.4
8,058.6
1,971.5
1,043.9
927.6
6,087.1
1,150.4'
3,538.1'
482.8
3,055.3'
809.1
147.3
442.2
349.1
241.5
905.1'
8,112.3
1,977.8
1,015.6
962.1
6,134.6
1,163.3
3,554.1
486.3
3,067.8
811.6
161.4
444.1
358.3
242.6
913.3
8,170.2
1,982.5
1,009.5
973.0
6,187.7
1,167.4
3,579.4
491.0
3,088.5
811.9
176.0
452.9
367.7
245.3
915.8
8,307.0
2,067.9
1,029.8
1,038.1
6,239.1
1,179.6
3,614.7
498.6
3,116.1
814.9
183.1
446.7
372.9
245.6
949.2
8,295.1
2,054.6
1,018.8
1,035.7
6,240.6
1,186.6
3,609.8
506.8
3,103.0
821.2
189.6
433.3
369.8
245.4
950.5
8,312.3
2,087.5
1,026.7
1,060.9
6,224.8
1,183.9
3,610.7
504.6
3,106.1
815.7
184.9
429.5
355.1
257.0
936.8
8,276.5
2,045.6
1,007.8
1,037.8
6,230.9
1,191.5
3,607.4
506.4
3,101.0
823.0
178.3
430.8
367.3
241.1
927.0
8,292.9
2,052.0
1,015.3
1,036.7
6,240.9
1,188.5
3,602.6
508.0
3,094.6
822.6
195.1
432.1
379.1
240.5
965.4
8,298.3
2,026.7
1,020.1
1,006.6
6,271.6
1,183.8
3,619.3
509.6
3,109.6
825.6
201.3
441.7
379.8
242.5
968.9
8,803.6
9,301.2'
9,434.0'
9,475.9'
9,543.5
9,614.3
9,788.4
9,766.6
9,766.6
9,717.6
9,783.4
9,795.1
5 426 4r
617.5'
4,808.9'
917.6
3,891.3'
1,490.0
367.4
1,122.7
370.4
468.5
5 570 3
614.1
4,956.3
989.6
3,966.7
1,634.2
407.3
1,226.9
461.7
501.1
5,617.0
596.9
5,020.1
1,024.7
3,995.4
1,648.9
414.3
1,234.6
481.9
533.0
5,634.4
587.2
5,047.2
1,029.4
4,017.8
1,670.7
434.9
1,235.8
485.6
531.5'
5,649.6
603.1
5,046.5
1,034.1
4,012.4
1,678.1
436.2
1,241.9
510.5
562.6
5,702.4
607.1
5,095.4
1,035.2
4,060.2
1,682.3
439.8
1,242.5
502.2
572.1
5,810.7
601.3
5,209.4
1,058.1
4,151.4
1,702.0
427.6
1,274.4
508.9
614.0
5,802.3
625.5
5,176.8
1,041.6
4,135.2
1,715.0
419.2
1,295.8
514.8
582.7
5,786.8
614.3
5,172.5
1,050.0
4,122.5
1,703.6
418.1
1,285.5
518.4
595.4
5,822.1
614.9
5,207.2
1,045.8
4,161.4
1,698.2
405.1
1,293.1
489.8
569.2
5,816.1
616.1
5,200.0
1,039.6
4,160.4
1,709.2
424.8
1,284.4
516.6
589.1
5,779.0
666.9
5,112.2
1,024.4
4,087.8
1,750.5
431.5
1,319.0
538.6
574.9
27 Total liabilities
7,755.3'
8,167.4
8,280.8
8,322.2
8,400.9
8,459.0
8,635.7
8,614.8
8,604.2
8,579.3
8,631.0
8,643.1
28 Residual (assets less liabilities)5
1,048.3'
1,133.8
1,153.2'
1,153.8'
1,142.6
1,155.4
1,152.7
1,151.9
1,162.4
1,138.3
1,152.4
1,152.0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
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
Not seasona lly adjusted
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
7,493.3
1,871.3
1,109.8
761.5
5,622.0
1,009.3
3,354.6
457.2
2,897.4
1,431.6
1,465.8
745.9
314.0
431.8
119.0
393.3
309.6
238.0
825.0
7,942.9
1,934.3
1,032.4
901.8
6,008.6'
1,127.9'
3,528.6'
477.8
3,050.8'
1,505.3
1,545.5'
783.8
331.5
452.3
132.0
436.3
328.4
232.4
892.1
8,067.5
1,991.4
1,033.3
958.1
6,076.1
1,136.9'
3,562.7'
482.4
3,080.3'
1,519.3
1,561.0'
796.4
343.1
453.3
140.3
439.8'
349.5
246.0
899.0
8,100.4'
1,957.8
1,024.2
933.7
6,142.5
1,152.8'
3,570.5'
486.6
3,083.8'
1,514.5
1,569.4'
818.5
365.7
452.8
152.7
448.0
362.6
256.1
905.0'
8,145.4
1,970.4
1,001.4
969.0
6,175.0
1,164.1
3,576.6
490.1
3,086.5
1,511.8
1,574.7
828.2
361.7
466.5
164.3
441.6
361.5
257.2
913.6
8,193.8
1,994.0
1,013.3
980.8
6,199.7
1,168.0
3,587.8
493.9
3,093.9
1,507.9
1,586.0
818.1
346.9
471.2
179.2
446.8
372.9
246.0
915.5
8,285.4
2,074.2
1,041.7
1,032.5
6,211.2
1,178.8
3,590.4
496.4
3,094.0
1,501.1
1,592.8
810.5
337.8
472.7
190.8
440.6
380.3
238.5
944.5
8,270.7
2,069.7
1,033.7
1,036.0
6,201.0
1,187.8
3,578.8
502.1
3,076.8
1,479.2
1,597.6
816.3
338.5
477.8
188.9
429.1
380.1
244.5
948.3
8,270.2
2,094.1
1,036.9
1,057.2
6,176.1
1,178.2
3,585.9
498.6
3,087.3
1,494.6
1,592.7
807.2
332.4
474.8
181.7
423.2
373.6
242.5
946.0
8,256.4
2,059.4
1,018.6
1,040.8
6,197.0
1,192.3
3,577.8
501.6
3,076.1
1,480.4
1,595.7
818.6
342.0
476.6
181.1
427.3
384.2
243.0
928.8
8,272.6
2,073.2
1,035.3
1,037.9
6,199.4
1,190.8
3,571.5
504.0
3,067.5
1,467.4
1,600.1
821.3
341.2
480.1
189.3
426.5
373.5
238.7
954.7
8,284.9
2,049.0
1,040.3
1,008.7
6,235.9
1,191.8
3,581.5
505.5
3,076.0
1,472.0
1,604.0
820.9
340.3
480.6
202.3
439.4
389.5
254.7
960.2
8,798.0
9,321.9'
9,486.7
9,545.2'
9,594.3
9,642.9
9,762.2
9,749.5
9,738.0
9,717.9
9,745.0
9,794.6
5,441.6'
625.1'
4,816.5'
912.7
3,903.8'
1,484.9
373.5
1,111.4
353.6
459.7
5,580.8
603.1
4,977.7
995.4
3,982.3
1,644.2
403.3
1,240.9
458.3
507.7
5,656.9
600.6
5,056.3
1,031.6
4,024.6
1,655.3
416.0
1,239.3
478.0
549.0
5,700.3
614.5
5,085.8
1,039.4
4,046.4
1,670.7
440.3
1,230.4
494.2
533.7'
5,666.6
615.9
5,050.7
1,042.1
4,008.6
1,673.2
440.6
1,232.6
544.9
558.6
5,707.3
598.2
5,109.0
1,042.1
4,066.9
1,676.5
439.7
1,236.9
524.3
569.2
5,800.6
604.5
5,196.1
1,053.5
4,142.6
1,690.0
425.7
1,264.3
500.9
599.3
5,810.2
633.6
5,176.6
1,033.5
4,143.1
1,708.2
426.6
1,281.5
494.8
572.8
5,843.5
574.1
5,269.3
1,049.2
4,220.1
1,670.7
427.0
1,243.7
473.3
582.1
5,878.5
632.3
5,246.2
1,035.0
4,211.2
1,656.4
411.0
1,245.4
461.1
563.1
5,754.2
661.7
5,092.6
1,023.9
4,068.7
1,724.8
429.9
1,294.9
521.8
579.7
5,749.1
678.3
5,070.8
1,018.8
4,051.9
1,790.5
443.2
1,347.4
529.0
565.1
59 Total liabilities
7,739.7'
8,191.0
8,339.2
8,398.8'
8,443.2
8,477.3
8,590.8
8,586.0
8,569.6
8,559.1
8,580.5
8,633.7
60 Residual (assets less liabilities)5
1,058.4'
1,130.9
1,147.5'
1,146.3'
1,151.0
1,165.6
1,171.4
1,163.4
1,168.4
1,158.8
1,164.5
1,160.9
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
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
Footnotes appear on p. 21.
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
C. Large domestically chartered commercial banks
17
Assets and Liabilities1—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Apr.
Oct.
Nov.
2008
2008
2007
2007
Dec.
Jan.
Feb.
Mar.
Apr.
Apr. 9
Apr. 16
Apr. 23
Apr. 30
Seasonally adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Trading account
5
Investment account
6
Mortgage-backed
7
Other
8
Other securities
9
Trading account
10
Investment account
11
State and local government . .
12
Other
13 Loans and leases in bank credit3 . . . .
14
Commercial and industrial
15
Real estate
16
Revolving home equity
17
Other
18
Other residential
19
Commercial
20
Consumer
21
Security4
22
Federal funds sold to and
repurchase agreements
with broker-dealers
23
Other
24
Federal funds sold to and
repurchase agreements with
others
25
All other loans
26
Lease-financing receivables
27 Interbank loans
28 Federal funds sold to and
repurchase agreements with
commercial banks
29
Other 5
30 Cash assets
31 Other assets6
32 Total assets7
33
34
35
36
37
38
39
40
41
42
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
43 Total liabilities
44 Residual (assets less liabilities)5
Footnotes appear on p. 21.
4 729 7
1.256.0
707.7
61.6
646.1
579.0
67.1
548.3
263.0
285.4
56.6
228.8
3.473.7
652.8
1.970.6
374.2
1.596.4
1,009.5
586.9
445.1
112.0
4 991 4
1,326.2
661.0
68.8
592.2
526.4
65.8
665.2
348.1
317.1
60.2
256.9
3,665.2
734.4
2,018.1
385.3
1,632.8
1,029.0
603.8
460.4
123.7
5,084.6
1,379.0
660.0
72.3
587.7
525.7
61.9
719.0
387.9
331.1
59.6
271.5
3,705.6
739.3
2,038.6
389.7
1,648.9
1,036.6
612.3
462.7
131.9
5,104.7
1,362.9
666.7
94.0
572.6
518.2
54.4
696.2
360.7
335.5
57.9
277.6
3.741.9
750.4
2.049.9
394.1
1,655.9
1,036.7
619.2
467.2
137.6
5,158.7
1,377.1
644.0
83.0
561.0
508.6
52.4
733.1
392.7
340.3
57.1
283.2
3.781.6
759.6
2.061.6
396.6
1.665.1
1,043.9
621.2
472.8
149.6
5,211.9
1.375.0'
635.0
77.1
557.9
509.2
48.7
740.0
396.0
344.0
56.0
288.0
3.837.0
770.7
2.081.6
401.1
1.680.4'
1,050.5
630.0
474.4
163.9
5,329.9'
1,454.1'
648.0
79.1
568.9
526.2
42.7
806.1'
455.6'
350.5
55.4
295.1
3.875.8'
780.4
2.107.3'
406.6
1.700.6'
1,058.2
642.4'
477.7
170.9
5,315.4
1,443.6
636.6
68.1
568.5
520.7
47.8
807.0
448.4
358.6
55.0
303.6
3.871.8
783.4
2.099.8
412.7
1.687.1
1,034.7
652.5
484.5
177.4
5,338.4
1,474.8
644.2
73.0
571.2
526.7
44.4
830.6
477.5
353.1
55.2
298.0
3.863.6
782.3
2.106.9
AW 2
1,695.7
1,044.7
651.0
479.3
172.9
5,298.6
1,438.1
626.7
64.5
562.2
514.2
48.0
811.3
457.2
354.1
55.1
299.0
3.860.5
788.8
2.098.8
412.7
1.686.1
1,033.4
652.6
484.0
165.7
5,311.2
1,440.5
632.5
66.9
565.7
517.2
48.5
808.0
442.6
365.3
55.2
310.1
3.870.7
784.1
2.091.2
413.4
1.677.8
1,024.1
653.7
486.4
182.8
5,312.4
1,415.8
638.1
63.4
574.7
522.7
52.0
777.6
413.9
363.7
54.8
309.0
3.896.6
779.4
2.102.2
414.7
1.687.5
1,033.9
653.6
489.5
189.3
87.6
24.4
98.2
25.6
105.5
26.4
111.9
25.7
122.6
27.0
137.7
26.2
139.0
31.9
142.2
35.2
137.8
35.1
134.7
31.0
145.9
36.9
151.1
38.2
39.5
150.1
103.6
187.7
45.4
185.1
98.0
206.4
43.4
191.9
97.7
220.6
44.9
194.6
97.3
227.6
44.8
195.9
97.2
229.8
42.6
206.2
97.6
233.9
32.1
209.3
98.2
238.2
24.8
201.2
100.7
237.1
24.7
197.8
99.8
223.4
22.7
200.2
100.5
229.5
23.5
201.8
101.0
245.8
28.6
205.6
102.0
250.6
130.2
57.6
153.2
607.0
156.8
49.6
143.9
637.3
166.6
54.0
150.8
649.4
170.6
57.0
148.5
661.6
175.7
54.0
147.9
679.8
175.8
58.2
149.9
678.4
188.4
49.7
145.9
707.3
185.1
52.1
146.0
707.6
176.5
46.9
155.9
696.2
176.4
53.1
142.4
686.8
191.4
54.3
141.5
721.3
195.2
55.4
144.2
723.1
5,642.3
5,940.2
6,066.0
6,101.2
6,170.7
6,226.9
6312.6'
6,349.6
6,356.9
6,300.6
6,363.0
6,373.6
3.209.9'
346.2'
2.863.7'
512.7
2,351.0'
963.8
134.6
829.2
370.4
392.5
3,273.3
332.2
2,941.1
573.9
2,367.2
1,072.8
161.5
911.3
457.8
422.9
3,323.8
324.2
2,999.6
609.5
2,390.1
1,080.2
164.6
915.5
477.6
456.9
3.343.8
316.3
3.027.6
612.2
2,415.4
1,089.2
176.9
912.4
483.1
456.2
3.341.9
329.1
3.012.8
612.9
2,399.9
1,097.2
180.8
916.4
509.3
487.4
3.373.1
328.5
3.044.6
613.7
2,430.8
1,112.3
188.8
923.4
500.7
495.9
3.454.4
323.6
3.130.8
634.7'
2,496.1'
1,124.9'
186.6
938.3'
505.0
538.5'
3,453.5
338.4
3.115.1
621.1
2,494.0
1,127.5
175.4
952.0
510.6
507.7
3,437.7
331.1
3.106.6
628.8
2,477.8
1,127.2
180.6
946.6
513.6
520.6
3.463.7
333.5
3.130.2
624.6
2,505.5
1,114.3
163.1
951.2
485.8
495.0
3.468.5
333.5
3.135.0
620.6
2,514.4
1,117.1
177.1
940.1
513.0
513.6
3.440.6
361.1
3.079.5
604.5
2,474.9
1,149.9
181.3
968.6
534.5
499.5
4,936.6'
5,226.7
5,338.4
5,372.3
5,435.8
5,482.0
5,622.8'
5,599.2
5,599.2
5,558.7
5,612.3
5,624.5
705.7'
713.4
727.5
728.9
734.9
745.0
750.4
757.7
741.8
750.7
749.1
749.7
18
Federal Reserve Bulletin Statistical Supplement • May 2008
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities' —Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Apr.
Oct.
Nov.
2008
2008
2007
2007
Dec.
Jan.
Feb.
Mar.
Apr.
Apr. 9
Apr. 16
Apr. 23
Apr. 30
Not seasonally adjusted
Assets
45 Bank credit
46
Securities in bank credit
47
Treasury and Agency securities2 .
48
Trading account
49
Investment account
50
Mortgage-backed
51
Other
52
Other securities
53
Trading account
54
Investment account
55
State and local government .
56
Other
57
Loans and leases in bank credit3 . . .
58
Commercial and industrial
59
Real estate
60
Revolving home equity
61
Other
62
Other residential
63
Commercial
64
Consumer
65
Credit cards and related plans .
66
Other
67
Security4
68
Federal funds sold to and
repurchase agreements
with broker-dealers
69
Other
70
Federal funds sold to and
repurchase agreements
with others
71
All other loans
72
Lease-financing receivables
73 Interbank loans
74 Federal funds sold to and
repurchase agreements
with commercial banks
75
Other 5
76 Cash assets
77 Other assets6
78 Total assets7
79
80
81
82
83
84
85
86
87
88
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
89 Total liabilities
90 Residual (assets less liabilities)5
Footnotes appear on p. 21.
4,707.0
1.263.8
718.1
64.2
653.9
588.1
65.9
545.7
261.3
284.4
56.4
228.0
3.443.2
652.9
1.945.3
371.2
1.574.1
997.1
577.0
444.9
127.0
318.0
111.5
5,031.9
1,319.9
652.4
64.8
587.5
520.0
67.6
667.5
351.2
316.3
60.7
255.7
3,712.1
741.3
2,057.3
389.2
1,668.2
1,051.3
616.9
460.1
129.7
330.4
122.1
5,137.6
1,384.3
657.9
73.9
584.0
519.5
64.6
726.4
394.4
332.0
60.4
271.6
3,753.4
745.9
2,080.9
393.7
1,687.3
1,063.8
623.4
462.3
131.6
330.7
130.3
5,139.2
1,353.8
649.5
87.5
562.1
508.2
53.9
704.2
364.6
339.6
57.9
281.7
3.785.5
753.9
2.077.5
397.3
1.680.2
1,054.9
625.3
468.2
138.2
330.0
142.7
5,189.9
1,372.7
632.5
80.0
552.5
501.3
51.2
740.2
395.8
344.4
57.2
287.2
3.817.2
760.2
2.085.7
400.3
1.685.4
1,057.2
628.2
481.6
138.8
342.8
152.5
5,232.0
1,383.1'
637.5
79.1
558.4
510.5
47.9
745.6
397.7'
348.0
55.7
292.2
3.848.9
771.4
2.087.6'
403.2
1.684.4'
1,048.3
636.1'
480.7
133.9
346.8
167.0
5,311.1'
1,451.9'
655.6
82.4
573.3
530.7
42.6
796.2'
445.5'
350.7
55.0
295.7
3.859.2'
779.5
2.087.9'
404.8
1.683.2'
1,044.7
638.4'
479.5
131.4
348.1
178.3
5,280.1
1,448.7
645.6
70.9
574.6
527.7
46.9
803.2
446.6
356.6
54.6
302.0
3.831.3
782.3
2.066.6
408.7
1.657.9
1,020.5
637.4
484.2
132.1
352.1
176.7
5,287.0
1,472.1
649.2
80.0
569.3
525.4
43.9
822.8
471.9
350.9
54.2
296.7
3.814.9
776.4
2.076.7
406.0
1.670.7
1,035.5
635.2
477.8
127.9
350.0
169.0
5,266.7
1,441.6
631.8
66.2
565.6
518.4
47.2
809.8
456.1
353.7
54.7
299.0
3.825.1
787.0
2.067.1
408.4
1.658.7
1,022.0
636.7
484.1
133.1
351.0
168.3
5,276.9
1,450.7
645.9
69.3
576.6
528.9
47.7
804.8
443.8
361.0
55.1
305.9
3.826.1
783.1
2.057.9
410.1
1.647.8
1,009.0
638.8
487.9
134.1
353.8
177.4
5,287.2
1,428.0
651.7
63.6
588.1
537.3
50.8
776.2
413.9
362.4
54.8
307.6
3.859.2
783.5
2.064.0
411.4
1.652.7
1,012.8
639.9
488.3
134.0
354.2
190.6
86.8
24.7
97.3
24.8
103.5
26.8
116.1
26.6
125.1
27.4
140.3
26.7
145.9
32.4
141.1
35.6
134.9
34.1
136.5
31.8
140.2
37.2
150.9
39.8
36.8
149.4
102.4
191.1
48.4
183.1
99.7
208.2
45.0
189.5
99.4
225.9
46.2
198.1
98.9
240.1
44.9
193.8
98.4
234.0
40.7
203.9
97.6
232.6
31.1
205.0
97.8
233.0
23.3
199.0
99.2
241.6
23.2
192.7
99.1
226.4
21.4
198.2
99.0
237.1
22.2
198.5
99.1
242.7
26.5
206.5
99.8
262.4
133.0
58.1
153.6
604.6
157.5
50.7
143.2
649.2
170.2
55.7
155.1
654.2
181.2
58.9
160.4
663.3
180.9
53.2
157.9
684.1
175.0
57.6
149.1
678.6
182.9
50.0
141.7
703.7
189.2
52.4
146.4
703.6
176.8
49.6
144.1
699.2
183.4
53.7
144.9
686.4
189.7
53.0
143.4
712.5
208.3
54.1
154.6
713.8
5,621.0
5,993.7
6,133.8
6,161.5
6,220.2
6,244.5
6,340.3'
6,315.2
6,299.8
6,278.5
6,318.8
6,361.1
3.209.5'
352.0'
2,857.6'
506.3
2,351.3'
967.1
139.7
827.4
353.7
383.0
3,301.3
324.4
2,976.9
581.8
2,395.2
1,084.9
160.5
924.4
455.0
429.7
3.370.7
326.8
3,043.8
616.5
2,427.3
1,081.6
164.9
916.7
474.8
473.2
3.405.5
337.7
3,067.8
622.3
2,445.5
1,074.5
177.3
897.2
491.0
458.2
3.369.3
339.0
3,030.3
622.2
2,408.1
1,077.7
181.6
896.1
541.5
483.7
3,378.4
322.0
3,056.4
618.3
2,438.1
1,102.8
190.0
912.8
520.3
492.0
3.441.5
324.4
3,117.0
628.7'
2,488.4'
1,124.6'
188.8
935.9'
496.8
522.6'
3.445.0
344.8
3,100.2
611.7
2,488.5
1,130.5
181.6
948.9
490.9
497.3
3.459.6
302.0
3,157.6
625.3
2,532.3
1,110.3
190.0
920.4
469.8
506.4
3.493.1
348.5
3,144.6
613.1
2,531.5
1,090.2
171.4
918.9
457.4
488.5
3.409.0
366.6
3,042.4
603.7
2,438.7
1,137.4
178.9
958.5
517.6
503.8
3.407.1
370.0
3,037.1
598.5
2,438.6
1,189.1
187.1
1.002.0
524.4
489.5
4,913.4'
5,271.0
5,400.2
5,429.2
5,472.2
5,493.5
5,585.6'
5,563.8
5,546.1
5,529.2
5,567.7
5,610.0
707.6'
722.7
733.5
732.3
748.0
751.0
751.4
753.8
749.3
751.1
751.1
754.7
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
D. Small domestically chartered commercial banks
19
Assets and Liabilities1—Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Apr.
Oct.
Nov.
2008
2008
2007
2007
Dec.
Jan.'
Feb.'
Mar.'
Apr.
Apr. 9
Apr. 16
Apr. 23
Apr. 30
Seasonally adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
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
Other loans and leases
Interbank loans
Cash assets5
Other assets6
15 Total assets7
16
17
18
19
20
21
22
23
24
25
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
26 Total liabilities
27 Residual (assets less liabilities)5
2,776.4
596.7
385.2
211.5
2,179.7
354.1
1,407.7
86.9
1 320 7
306.4
111.5
113.0
86.2
218.4
2,936.2
620.5
385.6
235.0
2,315.6'
391.0'
1,479.6'
89.8
1 389 8'
328.5
116.5'
123.6
91.2
245.3
2,942.1
613.4
380.1
233.2
2,328.8
394.5'
1,484.5'
88.9
1,395.6'
333.5
116.3
122.7
91.4
248.1
2,953.9'
608.6
377.3
231.4
2,345.3'
400.0'
1,488.2'
88.7
1,399.5'
341.8
115.2
121.5
93.0
243.5'
2,953.6
600.7
371.6
229.1
2,353.0
403.7
1,492.4
89.7
1,402.7
338.8
118.0
128.5
94.7
233.5
2,958.3
607.5
374.6
233.0
2,350.7
396.7
1,497.9
89.9
1,408.0
337.5
118.6
133.7
95.4
237.4
2,977.0
613.7
381.8
232.0
2,363.3
399.2
1,507.5
92.0
1,415.5
337.2
119.4
134.8
99.7
241.9
2,979.7
611.0
382.2
228.7
2,368.8
403.2
1,510.0
94.1
1,415.9
336.7
118.8
132.7
99.4
242.9
2,973.9
612.8
382.5
230.3
2,361.1
401.6
1,503.8
93.4
1,410.4
336.4
119.3
131.7
101.1
240.6
2,977.9
607.6
381.1
226.5
2,370.3
402.7
1,508.6
93.7
1,414.9
339.0
120.0
137.8
98.8
240.2
2,981.6
611.5
382.7
228.7
2,370.2
404.5
1,511.4
94.6
1,416.8
336.1
118.2
133.3
99.0
244.1
2,985.9
610.9
381.9
229.0
2,375.0
404.4
1,517.0
94.9
1,422.1
336.0
117.6
129.3
98.3
245.8
3,161.3
3,361.0r
3,368.1
3,374.7'
3,372.8
3,387.4
3,415.8
3,417.0
3,409.7
3,417.0
3,420.4
3,421.5
2,216.5
271.2
1,945.2
404.9
1,540.3
526.2
232.8
293.5
.0
76.0
2,297.0
281.9
2,015.1
415.7
1,599.5
561.4
245.9
315.5
4.0
78.3
2,293.2
272.7
2,020.6
415.2
1,605.4
568.8
249.7
319.1
4.3
76.1
2,290.6
270.9
2,019.6
417.2
1,602.4
581.5
258.0
323.4
2.5
75.3'
2,307.7
274.0
2,033.7
421.2
1,612.5
580.9
255.4
325.5
1.2
75.2
2,329.4
278.6
2,050.8
421.5
1,629.3
570.0
250.9
319.1
1.5
76.2
2,356.3
277.7
2,078.7
423.4
1,655.3
577.1
241.0
336.1
3.9
75.5
2,348.8
287.2
2,061.7
420.5
1,641.2
587.6
243.7
343.8
4.1
75.0
2,349.1
283.2
2,065.9
421.2
1,644.7
576.4
237.5
338.8
4.7
74.8
2,358.4
281.4
2,077.0
421.1
1,655.9
583.9
242.0
341.9
4.0
74.3
2,347.5
282.6
2,065.0
419.0
1,645.9
592.0
247.8
344.3
3.6
75.5
2,338.4
305.7
2,032.7
419.9
1,612.8
600.6
250.2
350.4
4.1
75.5
2,818.7
2,940.7
2,942.4
2,949.9
2,965.1
2,977.0
3,012.9
3,015.5
3,005.0
3,020.5
3,018.7
3,018.6
342.6
420.4
425.7
424.9'
407.7
410.4
402.9
401.5
404.7
396.5
401.7
402.9
Not seasonally adjusted
28
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
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Other loans and leases
Interbank loans
Cash assets5
Other assets6
46 Total assets7
47
48
49
50
51
52
53
54
55
56
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
57 Total liabilities
58 Residual (assets less liabilities)5
Footnotes appear on p. 21.
2,786.4
607.5
391.7
215.8
2,178.9
356.4
1,409.3
86.0
1,323.3
434.5
888.7
300.9
187.0
113.9
112.2
118.5
84.4
220.5
2,910.9'
614.4
380.1
234.3
2,296.6
386.6'
1,471.3'
88.6
1,382.6'
454.0
928.6'
323.8
201.8
121.9'
114.9
120.2
89.1
242.9
2,929.9
607.1
375.4
231.7
2,322.7'
391.0'
1,481.8'
88.7
1,393.0'
455.5
937.5'
334.1'
211.5
122.6
115.8
123.5
90.9
244.9
2,961.1
604.1
374.6
229.4
2,357.1'
399.0'
1,492.9'
89.3
1,403.6'
459.6
944.0'
350.3
227.5
122.8
114.9
122.6
95.7
241.8'
2,955.5
597.7
368.9
228.8
2,357.8
404.0
1,490.9
89.8
1,401.1
454.6
946.5
346.7
222.9
123.8
116.3
127.5
99.3
229.5
2,961.8
610.9
375.8
235.2
2,350.9
396.6
1,500.2
90.7
1,409.5
459.6
949.9
337.4
213.0
124.4
116.7
140.2
97.0
236.9
2,974.3
622.3
386.0
236.3
2,352.0
399.3
1,502.5
91.7
1,410.8
456.4
954.4
331.0
206.4
124.6
119.2
147.4
96.8
240.8
2,990.7
620.9
388.1
232.8
2,369.7
405.5
1,512.2
93.4
1,418.8
458.6
960.2
332.1
206.4
125.7
119.8
138.5
98.0
244.8
2,983.3
622.0
387.7
234.3
2,361.3
401.8
1,509.2
92.6
1,416.6
459.0
957.6
329.4
204.5
124.8
120.9
147.2
98.4
246.8
2,989.6
617.8
386.8
231.0
2,371.9
405.3
1,510.6
93.2
1,417.4
458.4
959.0
334.5
208.9
125.6
121.5
147.1
98.1
242.4
2,995.8
622.5
389.4
233.1
2,373.3
407.7
1,513.6
93.9
1,419.7
458.4
961.3
333.4
207.1
126.3
118.5
130.8
95.3
242.1
2,997.7
621.0
388.5
232.5
2,376.7
408.3
1,517.5
94.1
1,423.4
459.2
964.2
332.7
206.3
126.4
118.3
127.1
100.1
246.4
3,177.0
3,328.2
3,353.0
3,383.7'
3,374.1
3,398.4
3,421.9
3,434.3
3,438.2
3,439.5
3,426.1
3,433.5
2 232 0
273.1
1,958.9
406.4
1,552.5
517.7
233.8
284.0
-.1
76.7
2 279 5
278.7
2,000.8
413.6
1,587.2
559.3
242.8
316.5
3.3
78.0
2,286.2
273.8
2,012.5
415.1
1,597.3
573.7
251.1
322.6
3.2
75.8
2,294.8
276.8
2,018.0
417.1
1,600.9
596.2
263.0
333.1
3.1
75.5
2,297.3
276.8
2,020.4
419.9
1,600.5
595.5
259.0
336.4
3.4
74.9
2,328.9
276.2
2,052.7
423.9
1,628.8
573.7
249.7
324.1
3.9
77.3
2,359.1
280.1
2,079.1
424.9
1,654.2
565.4
236.9
328.4
4.1
76.6
2,365.2
288.8
2,076.4
421.8
1,654.6
577.7
245.0
332.7
3.9
75.5
2,383.9
272.2
2,111.7
423.9
1,687.9
560.4
237.0
323.4
3.5
75.7
2,385.4
283.8
2,101.6
421.9
1,679.7
566.2
239.7
326.5
3.6
74.6
2,345.3
295.1
2,050.2
420.2
1,630.0
587.4
251.0
336.5
4.2
75.9
2,342.0
308.3
2,033.7
420.3
1,613.3
601.5
256.1
345.4
4.6
75.6
2,826.3
2,920.0
2,939.0
2,969.6'
2,971.0
2,983.8
3,005.2
3,022.3
3,023.5
3,029.9
3,012.8
3,023.7
350.7
408.2
414.0
414.1'
403.1
414.7
416.7
412.0
414.7
409.6
413.4
409.8
20
Federal Reserve Bulletin Statistical Supplement • May 2008
1.26
COMMERCIAL BANKS IN THE UNITED STATES
E. Foreign-related institutions
Assets and Liabilities' —Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
Apr.
Oct.
Nov.
2008
2008
2007
2007
Dec.
Jan.
Feb.
Mar.
Apr.
Apr. 9
Apr. 16
Apr. 23
Apr. 30
Seasonally adjusted
1
2
3
4
5
6
7
8
9
10
11
12
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
13 Total assets7
14
15
16
17
18
19
20
21
Liabilities
Deposits
Transaction
Non transaction
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
1 009 2
412.3
85.5
326.8
596.9
225.6
28.0
159.2
184.1
60.2
51.3
37.7
1 128 1
461.8
93.6
368.2
666.3
260.5
35.7
140.7
229.4
79.0
58.8
45.6
1 159 5
481.2
92.7
388.5
678.3
269.5
36.6
144.0
228.2
79.4
56.7
47.9
1 159 3
463.8
87.8
375.9
695.5
279.7
38.1
144.3'
233.4'
86.4
52.7
47.1
1,168.4
460.5
92.4
368.1
707.9
284.7'
40.4
143.9'
238.8'
84.7
55.4
55.5
1,179.9
486.3
97.2
389.1
693.6
289.7'
41.7
122.8'
239.4'
88.3
56.2
55.5'
1,193.8'
509.3'
98.4
410.9'
684.5'
300.3'
41.8
109.2'
233.3'
72.9
57.4
70.3
1,127.3
476.1
91.3
384.8
651.2
303.2
41.6
93.6
212.8
72.8
58.7
62.4
1,128.5
481.3
92.3
389.0
647.1
301.2
40.5
93.6
211.9
79.5
58.6
64.4
1,132.7
478.4
92.4
386.0
654.3
304.9
41.9
94.4
213.2
68.3
57.6
65.8
1,121.9
475.9
90.2
385.7
646.0
302.6
42.4
88.6
212.5
71.3
61.9
59.4
1,123.1
468.2
89.5
378.6
654.9
305.5
42.1
96.2
211.1
70.4
57.6
59.3
1,157.8
1,310.9
1,342.7
I344.7
1,363.3
1,379.2
1,393.6'
1,320.5
1,330.2
1,323.7
1313.7
1309.6
836.7
11.7
825.0
572.7
62.1
510.6
-380.5
121.5
988.0
12.8
975.2
584.1
64.3
519.9
-387.9
120.2
1,019.0
12.7
1,006.4
585.8
60.0
525.8
-395.4
125.4
1,022.5
12.7
1,009.8
602.9
66.9
535.9
-409.2
125.8
1,048.5
11.7
1,036.8
597.4
65.4
532.0
-422.4
145.0
1,073.6
11.4
1,062.2
596.1
65.3
530.8
-427.1'
140.6
1,062.8
11.7
1,051.1
603.5
72.6
530.9
-446.6'
171.8
1,053.6
10.6
1,043.0
580.7
71.8
509.0
-484.4
158.6
1,040.0
10.6
1,029.4
577.8
72.5
505.3
-465.4
167.3
1,042.1
11.5
1,030.6
567.7
68.1
499.6
-460.6
161.9
1,077.3
10.0
1,067.3
584.3
72.9
511.4
-514.2
150.2
1,060.4
10.4
1,050.0
586.5
72.0
514.5
-499.7
152.1
1,150.4
1,304.4
1,334.8
1,342.0
1,368.4
1,383.2
1,391.4'
1,308.5
1,319.7
1,311.1
1,297.6
1,299.3
7.4
6.5
7.9
2.7
-5.2
-4.0
11.9
10.4
12.6
16.2
10.3
2.2
Not seasonally adjusted
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Trading account
Investment account
Other securities
Trading account
Investment account
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
40 Total assets7
41
42
43
44
45
46
47
48
Liabilities
Deposits
Transaction
Non transaction
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.
1 012 9
412.2
84.8
26.3
58.5
327.4
203.1
124.3
600.7
224.6
28.3
163.0
184.8
58.1
49.6
36.4
1 1254
461.4
94.4
28.5
65.9
367.0
220.9
146.1
664.0
259.7
36.9
139.0
228.5
81.5
59.4
44.6
1 164 7
486.1
93.2
26.6
66.6
392.9
233.4
159.5
678.6
269.3
37.6
144.7
227.0
83.5
57.8
46.4
1 164 3
462.0
87.4
26.3
61.1
374.6
218.2
156.4
702.3
282.8
39.0
146.8'
233.7'
89.2
53.4
46.7
1,172.3
459.0
90.5
26.2
64.3
368.5
219.3
149.1
713.4
288.0'
40.2
142.8'
242.2'
86.5
55.7
54.8
1,182.3
487.0
98.6
28.3
70.2
388.4
224.2
164.2
695.4
292.7'
40.6
121.7'
240.4'
88.5
55.5
57.2
1,191.5'
507.4'
96.7
29.1
67.6
410.7'
245.9'
164.7
684.1'
300.1'
40.3
111.1'
232.7'
70.2
56.1
68.6
1,128.9
476.7
90.8
27.8
63.0
385.9
240.7
145.2
652.2
301.5
42.0
95.8
212.9
70.1
56.7
60.4
1,133.8
482.3
92.9
28.6
64.3
389.4
243.8
145.5
651.5
299.3
41.1
97.7
213.3
73.6
55.9
61.4
1,134.0
479.4
90.6
27.1
63.4
388.8
243.4
145.3
654.7
302.8
42.1
95.7
214.0
64.1
55.7
61.4
1,126.0
477.3
90.0
27.4
62.7
387.2
241.1
146.1
648.8
302.9
42.3
91.5
212.2
70.7
59.2
59.9
1,119.4
468.3
89.3
27.6
61.7
379.0
234.8
144.3
651.1
301.7
42.7
97.0
209.7
71.4
56.4
57.5
1,156.5
1,310.3
1,351.6
1,352.8
1,368.6
1,382.7
1,385.5'
1,315.2
1,323.9
1314.5
1315.1
1304.0
861.3
11.8
849.5
583.5
61.5
522.0
-410.5
119.3
986.6
12.8
973.8
565.5
61.7
503.8
-367.9
123.1
1,017.4
12.8
1,004.6
584.3
63.0
521.3
-383.6
130.4
1,010.5
13.4
997.1
610.6
71.6
539.0
-398.5
127.0
1,046.9
11.8
1,035.0
604.2
68.3
535.9
-428.5
142.9
1,066.2
11.6
1,054.6
609.0
67.1
541.8
-434.4
138.5
1,067.4
11.7
1,055.6
621.7
77.9
543.7
-470.5'
163.7
1,084.1
10.6
1,073.4
590.9
70.8
520.2
-518.6
155.4
1,070.8
10.7
1,060.1
592.9
69.5
523.5
-504.2
161.0
1,071.7
11.4
1,060.3
580.6
70.8
509.8
-496.5
155.3
1,109.1
9.9
1,099.2
582.0
65.0
517.0
-532.6
153.1
1,092.7
10.6
1,082.1
600.3
74.6
525.7
-544.3
151.8
1,153.7
1,307.3
1,348.4
1,349.6
1,365.6
1,379.4
1,382.2'
1,311.8
1,320.5
1311.0
1311.6
1300.5
2.9
3.0
3.1
3.2
3.0
3.3
3.3
3.4
3.4
3.4
3.5
3.4
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
2007
Apr.
2007
Oct.
Nov.
2008
2008
Dec.
Jan.
Feb.
Mar.
Apr.
Apr. 9
Apr. 16
Apr. 23
Apr. 30
Not seasonally adjusted
MEMO
1
2
3
4
5
6
7
8
9
10
Large domestically chartered banks,
adjusted for mergers
Revaluation gains on off-balance-sheet
items9
Revaluation losses on off-balancesheet items9
Mortgage-backed securities10
Pass-through
CMO, REMIC, and other
Net unrealized gains (losses) on
avail able-for-sale securities"
Securitized consumer loans12
Credit cards and related plans
Other
Securitized real estate loans12
119.4
156.4
201.6
186.1
220.6
222.4
262.4'
241.5
265.0
250.3
239.7
210.0
99.2
702.9
533.1
169.8
124.9
657.8
465.9
191.9
159.5
667.9
464.0
203.9
143.6
664.6
451.3
213.2
174.4
664.3
443.9
220.4
174.6
677.7
452.7
225.0
206.3'
700.0
470.9
229.1
191.9
697.2
471.2
226.0
209.5
694.7
468.9
225.8
198.4
688.1
461.9
226.1
189.3
699.7
472.8
226.9
171.7
706.0
480.6
225.4
-5.8
107.8
69.8
38.0
n.a.
-10.4
111.0
73.5
37.5
1,188.3'
-8.1
111.9
74.5
37.4
1,198.9'
-6.5
113.9
74.0
39.9
1,206.4'
-2.7
113.1'
73.6
39.4'
1,206.1'
-7.0
114.1'
76.1
38.0'
1,212.1'
-16.1
114.0'
76.5
37.5'
1,210.7'
-21.1
113.3
75.9
37.4
1,211.4
-20.0
116.2
78.6
37.6
1,210.0
-23.1
112.3
74.9
37.4
1,210.0
-20.3
112.1
74.9
37.3
1,210.0
-21.1
112.0
74.8
37.2
1,215.4
233.3
273.5
n.a.
247.4
285.0
39.8
247.7
283.5
39.7
249.0
285.2
39.4
250.1
289.8
39.3
265.9'
293.2
38.6
281.9'
294.3
37.6
286.9
296.1
37.1
284.6
295.6
37.2
284.6
293.9
37.2
289.1
296.8
37.2
289.8
297.3
36.8
67.2
73.5
82.6
73.8
84.8
86.6
114.1
114.7
117.6
116.5
113.5
111.0
74.8
79.9
86.8
76.8
85.0
88.6
110.4
107.7
110.2
109.1
106.1
105.3
Small domestically chartered
commercial banks, adjusted for
mergers
11 Mortgage-backed securities10
12 Securitized consumer loans12
13 Securitized real estate loans12
Foreign-related institutions
14 Revaluation gains on off-balancesheet items9
15 Revaluation losses on off-balancesheet items9
NOTES: Tables 1.26, 1.27, and 1.28 have been revised to reflect changes in the Board's H.8
statistical release, "Assets and Liabilities of Commercial Banks in the United States," which
is available at www.federalreserve.gov/releases. Table 1.27, "Assets and Liabilities of Large
Weekly Reporting Commercial Banks," and table 1.28, "Large Weekly Reporting U.S.
Branches and Agencies of Foreign Banks," are no longer being published in the Statistical
Supplement. Instead, abbreviated balance sheets for both large and small domestically
chartered banks have been included in table 1.26, parts C and D. Data are both mergeradjusted and break-adjusted. In addition, data from large weekly reporting U.S. branches and
agencies of foreign banks have been replaced by balance sheet estimates of all foreign-related
institutions and are included in table 1.26, part E. These data are break-adjusted.
1. Covers the following types of institutions in the fifty states and the District of Columbia:
domestically chartered commercial banks that submit a weekly report of condition (large
domestic); other domestically chartered commercial banks (small domestic); branches and
agencies of foreign banks, and Edge Act and Agreement corporations (foreign-related
institutions). Excludes international banking facilities. Data are Wednesday values or pro rata
averages of Wednesday values. Large domestic banks constitute a universe; data for small
domestic banks and foreign-related institutions are estimates based on weekly samples and on
quarter-end condition reports. Data are adjusted for breaks caused by reelassifications of
assets and liabilities.
The data for large and small domestic banks presented on pp. 17-19 are adjusted to remove
the estimated effects of mergers between these two groups. The adjustment for mergers
changes past levels to make them comparable with current levels. Estimated quantities of
balance sheet items acquired in mergers are removed from past data for the bank group that
contained the acquired bank and put into past data for the group containing the acquiring
bank. Balance sheet data for acquired banks are obtained from Call Reports, and a ratio
procedure is used to adjust past levels.
2. Treasury securities are liabilities of the U.S. Treasury. Agency securities are liabilities of
U.S. government agencies and U.S. government-sponsored enterprises.
3. Excludes federal funds sold to, reverse RPs with, and loans made to commercial banks
in the United States, all of which are included in "Interbank loans."
4. Consists of reverse RPs with brokers and dealers and loans to purchase and carry
securities.
5. Includes vault cash, cash items in process of collection, balances due from depository
institutions, and balances due from Federal Reserve Banks.
6. Excludes the due-from position with related foreign offices, which is included in "Net
due to related foreign offices."
7. Excludes unearned income, reserves for losses on loans and leases, and reserves for
transfer risk. Loans are reported gross of these items.
8. This balancing item is not intended as a measure of equity capital for use in capital
adequacy analysis. On a seasonally adjusted basis, this item reflects any differences in the
seasonal patterns estimated for total assets and total liabilities.
9. Fair value of derivative contracts (interest rate, foreign exchange rate, other commodity
and equity contracts) in a gain/loss position, as determined under FASB Interpretation No. 39.
The fair market value of derivative contracts in a gain position is included in "Other
securities, trading account." The fair value of derivative contracts in a loss position is
included in "Other liabilities."
10. Includes mortgage-backed securities issued by U.S. government agencies, U.S.
government-sponsored enterprises, and private entities.
11. Difference between fair value and historical cost for securities classified as availablefor-sale under FASB Statement No. 115. Data are reported net of tax effects. Data shown are
restated to include an estimate of these tax effects.
12. Total amount outstanding.
22
1.32
Federal Reserve Bulletin Statistical Supplement • May 2008
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2007
2008
Item
1 All issuers
2 Financial companies'
3 Nonfinancial companies2
2003
2004
2005
2006
2007
Aug.'
Sept.'
Oct.'
Nov.'
Dec'
Jan.
1,284,153
1,403,929
1,662,157
1,983,118
1,780,685
1,926,753
1,871,813
1,897,975
1,843,369
1,780,685
1,860,738
519,785
112,292
589,499
129,902
663,951
142,363
730,735
167,075
816,693
162,720
745,486
175,783
749,451
168,984
821,370
163,993
825,002
167,923
816,693
162,720
854,644
172,258
1. Institutions engaged primarily in commercial, savings, and mortgage banking; sales,
personal, and mortgage financing; factoring, finance leasing, and other business lending;
insurance underwriting; and other investment activities.
1.33
PRIME RATE CHARGED BY BANKS
2. Includes public utilities and firms engaged primarily in such activities as communications, construction, manufacturing, mining, wholesale and retail trade, transportation, and
services.
Short-Term Business Loans1
Percent per year
Date of change
Rate
1
Nov. 7
4 75
4.25
2003—June 27
4.00
2004—June
Aug.
Sept.
Nov.
Dec.
30
10
21
10
14
4.25
4.50
4.75
5.00
5.25
2005—Feb.
Mar.
May
June
Aug.
Sept.
Nov.
Dec.
2
22
3
30
9
20
1
13
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
2006—Jan.
Mar.
May
June
31
28
10
29
7.50
7.75
8.00
8.25
2007—Sept. 18
Oct. 31
Dec. 11
7.75
7.50
7.25
2008—Jan. 22
30
Mar. 18
6.50
6.00
5.25
Period
Average
rate
2004
2005
2006
2007
4.34
6.19
7.96
8.05
2005—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
5.25
5.49
5.58
5.75
5.98
6.01
6.25
6.44
6.59
6.75
7.00
7.15
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
2006—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
7.26
7.50
7.53
7.75
7.93
8.02
8.25
8.25
8.25
8.25
8.25
8.25
Period
Average
rate
2007—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.25
8.03
7.74
7.50
7.33
2008—Jan
Feb
Mar
6.98
6.00
5.66
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
2007
Item
2005
2006
2008
200 8,
week ending
2007
Nov.
Dec.
Jan.
Feb.
Feb. 1
Feb. 8
Feb. 15
Feb. 22
Feb. 29
MONEY MARKET INSTRUMENTS
2 Discount window primary credit2-4
Nonfmancial
1-month
2-month
6
Financial
1-month
8
3-month
9
10
Certificates of deposit, secondary market3-1
1-month
3-month
12 Eurodollar deposits, 3-month3>s
U.S. Treasury bills
Secondary market3-5
13 4-week
15
4.97
5.96
5.02
5.86
4.49
5.00
4.24
4.83
3.94
4.48
2.98
3.50
3.50
3.93
3.01
3.50
3.00
3.50
2.98
3.50
2.96
3.50
3.22
3.23
3 42
4.98
5.01
5 10
5.02
4.98
4 92
4.48
4.45
4 42
4.25
4.24
4 23
3.61
3.41
3 25
2.90
2.75
2 72
2.99
2.95
2 83
2.93
2.86
2 80
2.91
2.73
2 73
2.90
2.72
2 67
2.84
2.68
2 54
3.27
3.36
3.44
5.00
5.04
5.07
5.07
5.10
5.13
4.51
4.69
4.75
4.51
4.66
4.76
3.71
3.72
3.70
3.00
2.95
3.02
3.03
3.01
3.03
3.00
3.03
3.03
2.92
3.00
2.94
2.93
2.95
3.07
3.34
3.51
3 73
5.06
5.16
5 24
5.23
5.27
5 23
4.78
4.97
4 85
5.07
5.02
4 85
3.85
3.84
3 71
3.11
3.06
2 99
3.18
3.13
3 06
3.12
3.07
3 01
3.11
3.06
2 98
3.12
3.06
3 00
3.10
3.06
2 99
3.51
5.19
5.32
5.02
5.17
3.95
3.12
3.24
3.16
3.09
3.11
3.11
2.94
3.15
3.39
4.67
4.73
4.81
4.32
4.36
4.44
3.63
3.27
3.46
2.79
3.00
3.23
2.68
2.75
2.75
2.23
2.12
2.04
1.87
2.13
2.18
2.14
2.14
2.08
2.42
2.23
2.05
2.33
2.18
2.08
2.17
1.97
1.95
3.62
3.85
3.93
4.05
4.15
4.29
4 64
4.94
4.82
4.77
4.75
4.76
4.80
5 00
4.53
4.36
4.35
4.43
4.51
4.63
4 91
3.50
3.34
3.35
3.67
3.87
4.15
4 56
3.26
3.12
3.13
3.49
3.74
4.10
4 57
2.71
2.48
2.51
2.98
3.31
3.74
4 35
2.05
1.97
2.19
2.78
3.21
3.74
4 49
2.23
2.21
2.31
2.84
3.20
3.67
4 35
2.08
1.98
2.15
2.72
3.13
3.66
4 39
2.04
1.92
2.13
2.73
3.17
3.72
4 49
2.10
2.04
2.30
2.89
3.33
3.85
4 58
1.98
1.94
2.19
2.80
3.25
3.78
4 56
4.28
4.86
4.40
4.15
4.71
4.40
4.13
4.60
4.40
4.26
4.81
4.46
4.25
4.93
4.42
4.13
4.86
4.27
4.42
5.24
4.64
4.25
5.04
4.39
4.25
5.04
4.33
4.22
5.00
4.47
4.45
5.31
4.66
4.77
5.61
5.11
5.57
5.98
6.01
5.89
6.06
5.93
6.15
5.99
6.03
6.16
6.24
6.21
5.23
5.37
5.59
6 06
5.59
5.80
6.06
6 48
5.56
5.90
6.09
6 48
5.44
5.78
5.97
6 40
5.49
5.91
6.19
6 65
5.33
5.78
6.06
6 54
5.53
5.97
6.26
6 82
5.38
5.83
6.12
6 63
5.40
5.87
6.16
6 69
5.54
5.98
6.27
6 83
5.62
6.06
6.35
6 93
5.60
6.03
6.32
6 91
1.73
1.82
1.83
1.94
2.01
2.11
2.18
2.14
2.13
2.20
2.23
2.20
paper3-5-6
Commercial
3
4
3.22
4.19
6-month
U.S. TREASURY NOTES AND BONDS
Constant maturities*
17
2-year
19
5-year
21
10-year
STATE AND LOCAL NOTES AND BONDS
Moody's series^
23 Aaa
24 Baa
25 Bond Buyer series"
CORPORATE BONDS
26 Seasoned issues, all industries12
Rating group
27 Aaa13
28 Aa
29 A
MEMO
Dividend-price ratiom
NOTE: Some of the data in this table also appear in the Board's H.I 5 (519) weekly
statistical release, available at www.federalreserve.gov/releases.
1. The daily effective federal funds rate is a weighted average of rates on trades through
New York brokers.
2. Weekly figures are averages of seven calendar days, ending on Wednesday of the current
week; monthly figures include each calendar day in the month.
3. Annualized using a 360-day year or bank interest. Source: U.S. Treasury.
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/
defaulthtm. 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. Source: U.S. Treasury.
10. General obligation bonds based on Thursday figures; Moody's Investors Service.
11. State and local government general obligation bonds maturing in 20 years are used in
compiling this index. The 20-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.
24
Federal Reserve Bulletin Statistical Supplement • May 2008
1.36
STOCK MARKET
Selected Statistics
2008
2007
Indicator
2005
2006
2007
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Pr ces and trac ng volume (averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31, 1965 = 50)
2
Industrial
7,351.19
n.a.
n.a.
n.a.
n.a.
8,357.63
n.a.
n.a.
n.a.
n.a.
9,653.00
n.a.
n.a.
n.a.
n.a.
9,985.42
n.a.
n.a.
n.a.
n.a.
9,440.44
n.a.
n.a.
n.a.
n.a.
9,777.58 10,159.33
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
9,741.15
n.a.
n.a.
n.a.
n.a.
9,807.36
n.a.
n.a.
n.a.
n.a.
9,165.10
n.a.
n.a.
n.a.
n.a.
9,041.52
n.a.
n.a.
n.a.
n.a.
8,776.21
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941-43 = 10)'
1,207.23
1,310.46
1,477.19
1,520.70
1,454.62
1,497.12
1,539.66
1,463.39
1,479.23
1,378.76
1,354.87
1,316.94
7 American Stock Exchange
(Aug 31 1973 - 50)2
1 567 52
1 936 79
2 267 99
2 354 93
2,217.16
2,320.48
2,441.84
2,406.56
2,383.84
2,290.88
2,269.79
2,262.29
4
5
Utility
Finance
Volume of trading (thousands of shares)
8 New York Stock Exchange
9 American Stock Exchange
1,542,724 2,254,869 3,232,195 3,433,561 4,086,048 3,071,737 3,268,707 4,045,500 3,145,802 4,830,460 3,832,107 4,601,666
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
Customer financing (millions of dollars, end-of-period balances)
10 Margin credit at broker-dealers3
221,660
275,380
285,610
381,370
331,370
329,510
345,420
344,300
285,610
328,330
334,900
311,660
119,710
88,730
159,040
94,450
156,190
90,340
205,830
122,740
214,890
118,250
208,540
118,910
222,900
120,840
246,520
128,530
156,190
90,340
276,390
142,100
266,050
133,670
305,600
122,140
Free credit balances at brokers4
12 Cash accounts
Margin requirements (percent of market value and effective date)6
13 Margin stocks
15 Short sales
Mar. 11, 1968
June 8, 1968
May 6,1970
Dec. 6, 1971
Nov. 24, 1972
Jan. 3, 1974
70
50
70
80
60
80
65
50
65
55
50
55
65
50
65
50
50
50
1. In July 1976 a financial group made up of banks and insurance companies was added to
the group of stocks on which the index is based. The index is now based on 400 industrial
stocks (formerly 425), 20 transportation (formerly 15 rail), 40 public utility (formerly 60), and
40 financial.
2. On July 5, 1983, the American Stock Exchange rebased its index, effectively cutting
previous readings in half.
3. Since July 1983, under the revised Regulation T, margin credit at broker-dealers has
included credit extended against stocks, convertible bonds, stocks acquired through the
exercise of subscription rights, corporate bonds, and government securities. Separate reporting of data for margin stocks, convertible bonds, and subscription issues was discontinued in
April 1984.
4. Free credit balances are amounts in accounts with no unfulfilled commitments to
brokers and are subject to withdrawal by customers on demand.
5. Series initiated in June 1984.
6. Margin requirements, stated in regulations adopted by the Board of Governors pursuant
to the Securities Exchange Act of 1934, limit the amount of credit that can be used to
purchase and carry "margin securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are the difference between the
market value (100 percent) and the maximum loan value of collateral as prescribed by the
Board. Regulation T was adopted effective Oct. 15, 1934; Regulation U, effective May 1,
1936; Regulation G, effective Mar. 11, 1968; and Regulation X, effective Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established in Regulation T the
initial margin required for writing options on securities, setting it at 30 percent of the current
market value of the stock underlying the option. On Sept. 30, 1985, the Board changed the
required initial margin, allowing it to be the same as the option maintenance margin required
by the appropriate exchange or self-regulatory organization; such maintenance margin rules
must be approved by the Securities and Exchange Commission.
Federal Finance
1.40
25
FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2005
1 Federal debt outstanding
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
8.170.4
4,714.6
3.455.8
8,371.2
4,872.8
3,498.4
8,420.0
4,797.5
3,622.6
8,507.0
4,843.2
3,663.8
8,680.2
4,901.2
3,779.0
8,872.9
8,890.8
9,030.6
9,252.3
8,849.7
5,054.3
3,795.4
8,867.7
4,943.0
3,924.6
9,007.7
5,049.2
3,958.4
9,229.2
5,136.3
4,092.9
23.8
23.8
.0
23.6
23.6
.0
23.6
23.6
.0
23.4
23.4
.0
23.5
23.5
.0
23.2
23.2
.0
23.2
23.2
.0
23.0
.0
23.1
23.1
.0
8,107.0
8,281.5
8,330.6
8,106.9
8,281.4
.1
8,330.6
.1
8,420.3
8,592.5
8,760.7
8,779.2
8,921.3
9,144.7
8,420.2
.1
8,592.4
.1
8,760.7
.1
8,779.1
.1
8,921.3
.1
9,144.6
.1
....
2 Public debt securities
3
Held by public
4
Held by agencies
5 Agency securities
6
Held by public
7
Held by agencies
8 Debt subject to statutory limit
9 Public debt securities
10 Other debt1
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 holder5
U.S. Treasury and other federal agencies and trust funds .
Federal Reserve Banks'"
Private investors
Depository institutions
Mutual funds
Insurance companies
State and local treasuries7
Individuals
Savings bonds
Pension funds
Private
State and Local
Foreign and international5
Other miscellaneous investors7'9
Ql
Q2
Q3
Q4
9,007.7
9,229.2
8,959.3
2,431.4
561.0
9,207.5
4,536.6
1,003.9
2,488.4
558.5
456.9
4,559.5
296.5
3.0
3.0
.0
4,692.6
293.2
3.0
3.0
.0
7,596.1
8,170.4
8,680.2
9,229.2
8,849.7
8,867.7
7,578.5
3,959.7
8,117.0
4,184.0
8,627.5
4,413.9
963.9
2,326.8
539.5
245.9
3,618.8
516.6
944.2
2,409.9
530.6
9,207.5
4,536.6
1,003.9
2,488.4
558.5
8,796.7
4,527.7
1,003.2
2,157.1
411.2
471.7
412.7
4,338.3
257.6
3.0
3.0
.0
4,692.6
293.2
3.0
3.0
.0
4,380.9
281.9
3.5
3.5
.0
8,819.6
4,339.1
869.0
2,444.3
547.2
437.8
4,528.6
180.5
4,164.3
21.7
185.4
301.6
3.0
3.0
.0
183.4
3,859.3
3,989.3
111.9
48.1
160.7
5.9
5.9
.0
328.7
3,986.5
235.6
3.8
3.8
.0
191.7
191.2
187.7
3,230.6
3,506.6
53.4
3,839.4
17.6
124.6
1,033.1
2,436.4
540.4
4,448.1
958.1
471.7
4,026.8
48.4
180.5
4,164.3
21.7
181.6
3,189.1
717.8
3,690.6
125.0'
254.1
149.7
389.1
3,466.9
744.2
3,783.1
778.9
3,928.9
790.5
4,122.1
115.1
250.7
159.0
497.7
4,097.8
740.6
4,395.7
129.9'
362.9'
135.3'
524.9
3,799.3
780.9
3,970.6
117.2
251.3
160.4
463.2
4,273.1
119.9'
264.2
153.7'
524.6
4,152.6
110.6
267.2
147.9'
549.2
3,963.1
779.6
4,269.7
119.8'
306.7'
142.2'
535.8
4,097.8
740.6
4,395.7
129.9'
362.9'
135.3'
524.9
204.4
301.4'
150.3'
151.0
1,853.4
413.4'
205.1
314.9'
161.1'
153.8
2,036.0
422.5'
202.4
326.1'
173.0'
153.0
2,105.0
466.1'
196.4
373.8'
209.3'
164.5'
2,355.3'
320.6
200.3
353.7'
198.5'
155.1
2,196.7
472.8'
198.6
358.3'
202.2'
156.1
2,193.9'
332.6'
197.1
367.2'
205.9'
161.4
2,244.1'
355.9'
196.4
373.8'
209.3'
164.5'
2,355.3'
320.6
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 • May 2008
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2007
2008
2008, week end ng
Item
Nov.
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.
Jan.
Jan. 2
Jan. 9
Jan.16
Jan. 23
Jan. 30
Feb. 6
Feb. 13
Feb. 20
Feb. 27
55,101
55,350
48,152
53,322
50,024
44,111
47,869
48,279
49,431
57,674
70,802
64,757
244,134
166,632
215,659
109,977
211,093
214,169
227,583
249,278
229,586
166,199
195,214
265,088
175,646
126,737
176,236
103,726
165,513
172,266
180,186
214,177
185,256
162,886
201,180
195,622
149,452
29,682
8,024
110,834
25,290
6,745
144,633
34,515
10,202
62,128
17,159
3,646
128,873
33,305
8,882
144,963
30,294
13,109
167,502
38,168
9,075
169,765
42,773
12,162
146,792
36,822
11,206
149,210
39,711
7,530
182,711
32,510
9,306
146,957
33,409
9,431
80,131
87,897
96,980
92,484
87,362
93,702
105,900
102,523
98,139
88,881
93,609
96,049
11,125
7,018
13,090
4,372
15,135
12,779
14,736
12,277
17,693
11,510
11,393
15,436
4,551
4,455
7,697
3,136
8,431
11,972
4,698
7,776
6,363
5,357
4,966
6,416
4,487
506
3,927
756
4,544
1,330
3,152
250
3,966
1,364
4,691
1,376
4,361
1,346
5,948
1,656
3,368
1,376
3,470
1,940
4,730
1,496
3,857
991
352,854
292,683
417,242
159,144
666,853
412,151
279,008
400,640
485,012
406,889
384,913
367,352
207,766
17,330
192,278
14,667
196,649
19,785
166,205
5,975
193,490
16,737
191,359
23,320
192,933
18,576
217,882
26,406
212,188
17,899
192,889
16,728
208,463
13,598
212,044
17,284
275,423
201,045
261,001
147,738
246,831
256,238
275,076
309,499
269,328
238,906
281,330
288,574
7,053
94,230
470
5,886
88,275
340
7,415
114,844
579
5,149
33,923
198
7,865
163,182
434
7,747
140,439
832
6,812
72,421
485
8,336
111,361
710
6,448
136,554
624
6,290
118,999
490
6,163
127,746
359
8,578
105,871
596
386,616
290,543
368,395
202,220
350,859
362,674
395,307
426,935
389,766
344,304
410,392
426,691
93,747
258,624
224,626
98,167
204,408
206,605
116,225
302,398
215,854
98,244
125,222
171,982
108,393
503,671
209,793
116,773
271,712
213,846
124,229
206,587
211,024
121,844
289,279
243,578
120,491
348,458
229,464
104,868
287,890
209,127
110,032
257,168
221,702
114,170
261,481
228,733
NOTE: Major changes in the report form filed by primary dealers induced a break in the
dealer data series as of the week ending July 4, 2001. Current weekly data may be found at the
Federal Reserve Bank of New York website (www.ny.frb.org/markets/primarydealers.html)
under the Primary Dealer heading.
1. The figures represent purchases and sales in the market by the primary U.S. government
securities dealers reporting to the Federal Reserve Bank of New York. Outright transactions
include all U.S. government, federal agency, government-sponsored enterprise, mortgage-
backed, and corporate securities scheduled for immediate and forward delivery, as well as all
U.S. government securities traded on a when-issued basis between the announcement and
issue date. Data do not include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the week.
2. Outright Treasury inflation-protected securities (TIPS) transactions are reported at
principal value, excluding accrued interest, where principal value reflects the original issuance par amount (unadjusted for inflation) times the price times the index ratio.
Federal Finance
1.43
U.S. GOVERNMENT SECURITIES DEALERS
27
Positions and Financing'
Millions of dollars
2007
2008
2008, week ending
Item, by type of security
Nov.
Dec.
Jan.
Jan. 2
Jan. 9
Jan.16
Jan. 23
Jan. 30
Feb. 6
Feb. 13
Feb. 20
Net outright positions2
1 U.S. Treasury bills
Treasury coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
4
More than six but less than
or equal to eleven years
5
More than eleven
6
Inflation-protected
2
3
7
8
9
10
11
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities, by maturity
Three years or less
More than three years but less than
or equal to six years
More than six but less than
or equal to eleven years
More than eleven
12 Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
1,036
-3,110
-9,032
-2,004
-11,090
-14,038
-921
-11,992
-9,689
1,623
17,663
-17,193
-9,070
-2,482
-7,276
-84
-4,001
-5,157
2,472
-15,006
-20,244
-23,454
-30,245
-25,152
-29,661
-25,939
-30,374
-33,386
-37,081
-19,818
-23,007
-35,292
-29,737
-36,845
-13,619
5,652
-33,960
-10,551
3,117
-32,853
-8,766
1,453
-38,510
-11,015
1,544
-32,276
-11,166
488
-33,699
-8,075
2,660
-24,741
-6,724
577
-39,353
-8,381
2,104
-30,933
-9,285
1,144
-31,931
-5,511
2,547
-29,674
-6,200
2,546
43,547
52,543
50,980
51,446
58,339
52,015
54,276
40,047
44,753
50,364
51,311
39,982
42,405
55,106
40,735
56,718
51,109
55,878
59,561
63,966
61,273
55,467
6,850
5,056
12,720
6,291
8,420
12,181
15,759
15,982
15,353
14,703
13,873
12,854
9,721
13,843
9,861
14,713
10,696
13,046
9,030
14,982
10,396
15,995
10,921
14,360
11,362
14,195
10,651
13,296
10,205
12,969
9,999
11,340
9,450
39,571
55,915
59,916
61,248
59,182
56,088
64,320
59,251
63,016
63,890
65,020
42,533
229,189
47,659
220,150
57,608
214,734
50,168
215,008
58,909
217,799
61,582
219,110
57,557
215,810
54,918
207,937
54,749
202,146
54,682
196,323
59,754
192,976
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
1,483,997
1 292 601
1,464,804
1 219 200
1,522,028
1 133 387
1,453,715
939,892
1,468,660
1,072,701
1,559,246
1,142,381
1,514,398
1,140,685
1,557,396
1,226,867
1,577,541
1,176,781
1,568,811
1,263,691
1,589,039
1,236,986
247,255
258,411
227,395
258,169
232,936
263,401
216,218
235,002
238,674
247,832
244,732
264,645
235,435
269,156
217,459
278,786
234,476
272,496
245,853
276,151
258,712
277,647
177,293
487,128
178,148
454,396
188,187
427,804
182,207
405,225
184,469
422,363
183,537
429,682
180,900
433,947
200,183
432,849
225,763
419,599
224,808
444,307
223,722
437,136
130,365
92,240
128,928
86,249
132,278
79,502
128,446
83,393
136,100
81,919
130 663
80,659
130 683
76,850
133,649
76,239
126,061
88,099
129,376
84,691
130,204
78,828
1,031,148
1,703,122
991,623
1,620,426
1,045,441
1,519,183
983,325
1,254,384
1 016 275
1,434,785
1 088 451
1,523,427
1 034 150
1,536,299
1 049 773
1,648,922
1 121 489
1,581,864
1 125 949
1,694,186
1 163 684
1,661,199
1,469,300
1 122 745
1,430,608
1,088,904
1,495,768
970,263
1,437,028
772,649
1,461,641
911,654
1,525,006
995,002
1,496,019
983,312
1,510,692
1,041,670
1,541,245
1,011,392
1,488,033
1,124,833
1,548,599
1,115,880
393,688
166,173
406,172
149,629
419,667
162,205
389,595
136,366
433,794
138,142
435,176
158,290
412,696
172,732
402,236
186,036
443,165
169,213
458,346
188,557
463,609
193,331
789,172
271,445
794,535
248,882
862,651
197,699
765,912
221,964
802,963
203,098
873,745
195,642
894,200
184,260
898,519
203,606
924,382
178,500
960,800
176,913
926,655
174,440
373,312
95,742
364,664
90,600
374,651
82,280
358,980
84,959
370,367
80,935
382,387
83,903
379,805
81,649
372,120
81,420
363,475
85,427
357,110
94,076
351,738
95,498
2 621 843
1,568,908
2 592 093
1,509,334
2 730 072
1,352,653
2 543 649
1,155,732
2 644 443
1,283,268
2 794 348
1,372,741
2 754314
1,360,668
2760 012
1,447,132
2,873,122
1,374,108
2,858,189
1,506,964
2,891,645
1,496,872
MEMO
Reverse repurchase agreements
23 Overnight and continuing
24 Term
Securities out, U.S. Treasury
25 Overnight and continuing
26 Term
Federal agency and governmentsponsored enterprises
27 Overnight and continuing
28 Term
Mortgage-backed securities
29 Overnight and continuing
30 Term
Corporate securities
31 Overnight and continuing
32 Term
MEMO
Repurchase agreements
33 Overnight and continuing
34 Term
NOTE: Major changes in the report form filed by primary dealers included a break in many
series as of the week ending July 4, 2001. Current weekly data may be found at the Federal
Reserve Bank of New York website (www.ny.frb.org/markets/primarydealers.html) under the
Primary Dealer heading.
1. Data for positions and financing are obtained from reports submitted to the Federal
Reserve Bank of New York by the U.S. government securities dealers on its published list of
primary dealers. Weekly figures are close-of-business Wednesday data. Positions for calendar
days of the report week are assumed to be constant. Monthly averages are based on the
number of calendar days in the month.
2. Net outright positions include all U.S. government, federal agency, governmentsponsored enterprise, mortgage-backed, and corporate securities scheduled for immediate and
forward delivery, as well as U.S. government securities traded on a when-issued basis
between the announcement and issue date.
3. Figures cover financing U.S. government, federal agency, government-sponsored enterprise, mortgage-backed, and corporate securities. Financing transactions for Treasury
inflation-protected securities (TIPS) are reported in actual funds paid or received, except for
pledged securities. TIPS that are issued as pledged securities are reported at par value, which
is the value of the security at original issuance (unadjusted for inflation).
28
1.44
Federal Reserve Bulletin Statistical Supplement • May 2008
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
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 Service6
8
Tennessee Valley Authority
9
United States Railway Association6
10 Federally sponsored agencies7
11 Federal Home Loan Banks
12 Federal Home Loan Mortgage Corporation
13 Federal National Mortgage Association
14 Farm Credit Bankss
15
Student Loan Marketing Association9
16 Financing Corporation10
17
Farm Credit Financial Assistance Corporation "
18
Resolution Funding Corporation12
23,843
6
n.a.
161
23,520
6
23,151
6
n.a.
84
n.a.
n.a.
n.a.
n.a.
24,267
6
23,007
6
22,965
6
n.a.
85
23,017
6
23,103
6
n.a.
84
n.a.
n.a.
23,837
n.a.
n.a.
n.a.
23,145
n.a.
n.a.
n.a.
22,959
n.a.
n.a.
n.a.
23,097
n.a.
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
n.a.
921,793
773,600
754,535
113,021
91,929
8,170
1,261
29,996
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.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
27,948
28^25
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
23,151
6
MEMO
19 Federal Financing Bank debt13
20
21
22
23
24
Lending So federal and federally sponsored agencies
Export-Import Bank3
Postal Service6
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association6
Other lending^4
25 Farmers Home Administration
26 Rural Electrification Administration
27 Other
6,961
n.a.
0,987
18,515
n.a.
9,810
1. Consists of mortgages assumed by the Defense Department between 1957 and 1963
under family housing and homeowners' assistance programs.
2. Includes participation certificates reclassified as debt beginning Oct. 1, 1976.
3. On-budget since Sept. 30, 1976.
4. Consists of debentures issued in payment of Federal Housing Administration insurance
claims. Once issued, these securities may be sold privately on the securities market.
5. Certificates of participation issued before fiscal year 1969 by the Government National
Mortgage Association acting as trustee for the Farmers Home Administration; the Department
of Health, Education, and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
6. Off-budget.
7. Includes outstanding noncontingent liabilities: notes, bonds, and debentures. Includes
Federal Agricultural Mortgage Corporation; therefore, details do not sum to total. Some data
are estimated.
8. Excludes borrowing by the Farm Credit Financial Assistance Corporation, which is
shown on line 17.
9. Before late 1982, the association obtained financing through the Federal Financing Bank
(FFB). Borrowing excludes that obtained from the FFB, which is shown on line 22.
30^04
32,422
30,179
n.a.
n.a.
32,422
31,931
30,179
n.a.
n.a.
33,959
32,225
32,422
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.
30,304
33,959
31,931
n.a.
n.a.
32,225
32,422
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
2007
Type of issue or issuer,
or use
2005
1
2006
2008
2007'
July
Aug.
Sept.'
Oct.
Nov.
Dec.
Jan.'
Feb.
1 All issues, new and refunding
409,802
389,540
426,132
31,432'
28,349'
32,882
44,649'
28,882'
29,218'
19,682
21,256
By type of issue
2 General obligation
3 Revenue
145,845
263,957
115,128
274,413
131,245
294,887
9,759
21,673'
9,064'
19,285'
6,809
26,072
11,177
33,472'
10,175'
18,707
9,513'
19,705
9,269
10,413
11,280
9,976
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township
31,568
298,762
79,472
28,258
293,403
67,879
34,970
315,229
75,934
1,158
24,810'
5,464
3,036
19,462
5,851'
2,037
25,423
5,421
4,133
35,254'
5,263'
2,149
18,970
7,763'
2,488
21,452
5,279'
1,279
14,148
4,255
3,707
12,526
5,023
7 Issues for new capital
222,986
262,485
275,174
22,993'
20,823'
25,097
30,850'
21,621'
21,778'
15,462
14,900
70,974
25,427
10,052
n.a.
17,655
60,626
70,252
30,232
7,801
n.a.
35,000
72,684
70,257
27,921
11,394
n.a.
38,137
83,048
6,487'
1,133
554
n.a.
3,556
8,297
4,566
3,436
590
n.a.
2,859
5,741'
3,694
5,578
520
n.a.
4,092
8,674
6,110
3,641
723
n.a.
6,030
10,267'
7,125
1,989
1,112
n.a.
2,075
5,697'
5,770'
1,652
2,547
n.a.
2,467
5,625'
4,136
2,951
1,007
n.a.
1,372
4,407
4,631
420
3,695
n.a.
1,342
3,560
By use of proceeds
9 Transportation
11 Social welfare
13 Other purposes
SOURCE: Securities Data Company beginning January 1990; Investment Dealer's Digest
before then.
1. Par amounts of long-term issues based on date of sale.
2. Includes school districts.
1.46
NEW SECURITY ISSUES
U.S. Corporations
Millions of dollars
2007
Type of issue, offering,
or issuer
2005
2006
2008
2007
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
2,438,989
2,710,028
2,447,707
290,454
140,993
183,529
159,087
162,021
143,274
109,195
148,308
2 Bonds2
2,323,735
2,590,863
2,279,052
273,954
135,078
173,382
151,933
151,119
119,184
87,724
121,240
By type of offering
3 Sold in the United States
4 Sold abroad
2 141 496
182,238
2 318 379
272,483
2 030 248
248,803
240 025
33,929
125 312
9,766
159 508
13,873
131 957
19,976
122 921
28,198
98 829
20,356
81 383
6,341
108 575
12,665
22,221
18,262
20,103
1,547
1,403
1,669
2,626
1,436
2,246
1,349
n.a.
216,072
2107 662
344,005
2 246 858
411,723
1 867 329
45,474
228 480
13,137
121 940
32,055
141 326
34,501
117 432
48,456
102 663
30,003
89 181
33,128
54 596
28,251
92 989
115,255
119,165
168,655
16,500
5,915
10,147
7,154
10,902
24,090
21,471
27,068
54,713
60,541
56,029
63,136
65,440
103,216
5,024
11,477
2,776
3,140
6,881
3,266
3,255
3,899
4,952
5,950
11,673
12,418
2,813
18,658
1,958
25,110
MEMO
5 Private placements, domestic
By industry group
6 Nonfinancial
8 Stocks3
By industry group
9 Nonfinancial
10 Financial
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.
SOURCE: Securities Data Company and the Board of Governors of the Federal Reserve
System.
30
Federal Reserve Bulletin Statistical Supplement • May 2008
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2007
Item
1 Sales of own shares
2
2006
2008
2007'
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
2,009,480
2,529,818
198,153
182,213
235,084
198,432
225,067
280,573
204,415
200,928
3 Net sales3
1 782 393
227,087
2 303 125
226,693
217 606
-19,453
166 197
16,016
210 539
24,545
205 546
-7,114
221 500
3,567
302 693
-22,120
176 606
27,809
201 377
-449
4 Assets4
8,058,059
8,914,249
8,722,777
9,068,464
9,337,512
8,995,368
8,914,249
8,445,110
8,357,451
8,263,656
5 Cashs
6 Other
345,066
7,712,993
378,795
8,535,454
352,428
8,370,349
347,208
8,721,256
365,821
8,971,691
384,831
8,610,537
378,795
8,535,454
361,823
8,083,287
382,693
7,974,758
383,612
7,880,044
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
2007
2006
Account
2005
2006
2007
Q2
Q3
Q4
Q1
Q2
Q3'
Q4
ASSETS
1 Accounts receivable, gross2
1,622.4
601.8
479.2
541 4
1,732.7
640.3
498.0
594 4
1,759.5
706.8
519.5
533 3
1,672.1
602.8
497.4
572 0
1,710.3
628.3
490.4
591 6
1,732.7
640.3
498.0
594 4
1,728.4
643.1
505.4
579 8
1,732.1
659.7
509.3
563 2
1,757.5
689.2
507.9
560 4
1,759.5
706.8
519.5
533 3
44.7
24.5
49.2
26.6
50.2
33.5
45.3
23.5
48.4
24.7
49.2
26.6
50.8
25.5
50.6
25.5
50.3
28.7
50.2
33.5
7 Accounts receivable, net
8 All other
1,553.2
535 7
1,656.9
486 5
1,675.9
499 4
1,603.4
499 6
1,637.2
482 9
1,656.9
486 5
1,652.1
497 6
1,655.9
504 9
1,678.5
515 3
1,675.9
499 4
9 Total assets
2,088.8
2,143.3
2,175.2
2,103.0
2,120.1
2,143.3
2,149.7
2,160.8
2,193.7
2,175.2
142.1
160.0
129.2
165.3
173.3
158.5
136.9
152.7
131.5
164.0
129.2
165.3
138.1
159.1
153.5
154.0
176.7
149.0
173.3
158.5
312.2
806.5
423.6
244.4
338.5
849.6
424.3
236.4
326.4
837.3
440.0
239.7
327.4
832.6
415.7
237.5
336.7
824.0
421.1
242.8
338.5
849.6
424.3
236.4
330.8
836.3
438.2
247.1
348.5
827.8
439.6
237.5
331.8
847.6
444.4
244.2
326.4
837.3
440.0
239.7
2,088.8
2,143.3
2,175.2
2,103.0
2,120.1
2,143.3
2,149.7
2,160.8
2,193.7
2,175.2
3
Business
5 LESS:
6 LESS:
Reserves for unearned income
Reserves for losses
LIABILITIES AND CAPITAL
11 Commercial paper
Debt
13 Not elsewhere classified
14 All other liabilities
15 Capital, surplus, and undivided profits
16 Total liabilities and capital
NOTE: Some of the data presented in the table is available in the Board's monthly G.20
(422) statistical release, which is available at www.federalreserve.gov/releases.
1. Includes finance company subsidiaries of bank holding companies but not of retailers
and banks. Data are amounts carried on the balance sheets of finance companies; securitized
pools are not shown, as they are not on the books.
2. Before deduction for unearned income and losses. Excludes pools of securitized assets.
Securities Markets and Corporate Finance
1.52
DOMESTIC FINANCE COMPANIES
31
Owned and Managed Receivables'
Billions of dollars, amounts outstanding
Type of credit
Seasonally adjusted
1 Total
2
3
4
Consumer
Real estate
Business .
1,895.3
2,009.3
2,044.5
2,048.3
2,047.8
2,044.5
2,046.6
2,061.8
2,063.1
774.6
561.5
559.1
818.4
610.9
580.0
885.9
566.1
592.4
876.7
576.8
594.8
880.3
572.6
594.8
885.9
566.1
592.4
882.5
562.5
601.7
888.3
567.0
606.5
895.4
568.5
599.2
Not seasonally adjusted
5 Total
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Consumer
Motor vehicle loans
Motor vehicle leases
Revolving2
Other3
Securitized assets4
Motor vehicle loans
Motor vehicle leases
Revolving
Other
Real estate
One- to four-family
Other
Securitized real estate assets4
One- to four-family
Other
Business
Motor vehicles
Retail loans
Wholesale loans5
Leases
Equipment
Loans
Leases
Other business receivables'" . . .
Securitized assets4
Motor vehicles
Retail loans
Wholesale loans
Leases
Equipment
Loans
Leases
Other business receivables'" .
1,910.9
2,026.2
2,061.8
2,052.3
2,057.9
2,061.8
2,054.1
2,057.8
2,055.2
781.4
278.0
85.3
66.3
172.3
825.4
259.8
106.0
79.9
194.7
893.5
262.9
122.9
86.0
234.9
886.4
260.4
121.1
80.6
230.0
890.1
259.4
122.2
82.9
233.0
893.5
262.9
122.9
86.0
234.9
887.3
256.0
124.4
84.9
240.1
883.9
253.6
124.3
83.4
241.6
888.5
255.7
124.9
82.1
244.7
112.6
4.2
14.9
47.8
565.0
489.8
51.6
112.8
3.6
15.9
52.8
614.8
538.1
56.2
113.3
3.1
25.6
44.7
569.8
474.2
59.1
119.8
3.2
25.8
45.6
576.0
500.1
57.8
118.6
3.2
25.7
45.2
573.5
497.5
58.6
113.3
3.1
25.6
44.7
569.8
474.2
59.1
108.7
3.1
25.4
44.3
564.8
466.7
62.0
107.4
3.0
25.4
44.0
566.0
465.2
64.9
103.5
3.0
25.4
43.6
560.4
457.9
67.8
18.9
4.8
564.5
105.5
15.2
61.2
29.0
281.9
93.6
188.3
91.8
16.8
3.7
586.0
105.1
17.1
55.7
32.3
299.5
102.4
197.1
93.5
34.9
1.6
598.6
105.7
16.4
56.9
32.4
319.4
106.1
213.3
94.4
15.1
3.1
589.9
104.4
17.4
54.1
32.9
311.4
106.1
205.3
93.7
15.0
2.4
594.3
106.9
16.8
57.3
32.7
312.3
105.6
206.7
95.9
34.9
1.6
598.6
105.7
16.4
56.9
32.4
319.4
106.1
213.3
94.4
34.8
1.3
602.1
104.9
16.0
56.5
32.4
326.9
215.9
92.6
34.8
1.1
607.9
107.9
15.6
59.9
32.4
325.6
112.6
213.0
96.7
33.9
.8
606.3
107.8
15.3
60.7
31.9
324.9
113.0
211.8
97.2
2.7
26.0
.1
24.4
11.6
12.8
32.2
38.0
3.0
34.9
.1
15.4
9.9
5.5
34.6
33.6
2.6
30.9
.1
13.1
9.2
3.9
32.4
37.8
2.7
35.0
.1
13.0
9.3
3.7
29.5
35.1
2.7
32.3
.1
13.2
9.4
3.8
31.0
33.6
2.6
30.9
.1
13.1
9.2
3.9
32.4
32.4
2.6
29.7
.1
13.2
9.2
3.9
32.0
32.5
2.6
29.8
.1
13.2
9.2
4.0
32.0
31.5
2.6
28.9
.1
13.3
9.2
4.1
31.7
NOTE: This table has been revised to incorporate several changes resulting from the
benchmarking of finance company receivables to the June 1996 Survey of Finance Companies. In that benchmark survey, and in the monthly surveys that have followed, more-detailed
breakdowns have been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table. The new information has
resulted in some reclassification of receivables among the three major categories (consumer,
real estate, and business) and in discontinuities in some component series between May and
June 1996.
Includes finance company subsidiaries of bank holding companies but not of retailers and
banks. Data in this table also appear in the Board's G.20 (422) monthly statistical release,
available at www.federalreserve.gov/releases.
1. Owned receivables are those carried on the balance sheet of the institution. Managed
receivables are outstanding balances of pools upon which securities have been issued; these
balances are no longer carried on the balance sheets of the loan originator. Data are shown
before deductions for unearned income and losses. Components may not sum to totals
because of rounding.
2. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies.
3. Includes personal cash loans, mobile home loans, and loans to purchase other types of
consumer goods, such as appliances, apparel, boats, and recreation vehicles.
4. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
5. Credit arising from transactions between manufacturers and dealers—that is, floor plan
financing.
6. Includes loans on commercial accounts receivable, factored commercial accounts, and
receivable dealer capital; small loans used primarily for business or farm purposes; and
wholesale and lease paper for mobile homes, campers, and travel trailers.
32
1.53
Federal Reserve Bulletin Statistical Supplement • May 2008
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2007
Item
2005
2006
2008
2007
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
Terms and y elds in primary and secondary markets
PRIMARY MARKETS
Terms1
1 Purchase price (thousands of dollars)
2 Amount of loan (thousands of dollars)
3 Loan-to-price ratio (percent)
5 Fees and charges (percent of loan amount)2
326.8
238.5
75.3
29.2
.54
345.7
253.4
75.4
29.5
.66
360.7
269.9
77.1
29.4
.81
350.7
266.3
78.6
29.4
.81
366.8
273.7
77.1
29.2
.80
347.7
268.8
79.4
29.2
.74
360.2
269.5
78.6
29.0
.78
373.1
275.9
78.1
29.2
.66
329.8
248.6
77.9
28.8
.80
346.3
252.4
76.4
28.9
.64
5.86
5.93
n.a.
6.50
6.60
n.a.
6.30
6.42
n.a.
6.43
6.55
n.a.
6.30
6.42
n.a.
6.10
6.21
n.a.
5.90
6.02
n.a.
5.87
5.96
n.a.
5.80
5.92
n.a.
5.89
5.98
n.a.
n.a.
5.13
n.a.
5.70
n.a.
5.71
n.a.
5.67
n.a.
5.38
n.a.
5.37
n.a.
5.00
n.a.
5.19
n.a.
5.16
n.a.
5.22
Yield (percent per year)
7 Effective rate1-3
SECONDARY MARKETS
Yield {percent per year)
9 FHA mortgages (section 203)5
10 GNMA securities8
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
12 FHA/VA insured
14 Mortgage transactions purchased (during period)
Mortgage commitments (during period)
15 Issued7
16 To sell8
727,545
n.a.
n.a.
724,400
n.a.
n.a.
723,976
n.a.
n.a.
732,291
n.a.
n.a.
722,032
n.a.
n.a.
723,976
n.a.
n.a.
720,985
n.a.
n.a.
721,579
n.a.
n.a.
722,768
n.a.
n.a.
728,414
n.a.
n.a.
146,641
196,017
182,470
20,957
13,997
12,796
8,913
11,593
15,817
17,961
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.
710,017
n.a.
n.a.
703,629
n.a.
n.a.
720,813
n.a.
n.a.
703,145
n.a.
n.a.
701,352
n.a.
n.a.
720,813
n.a.
n.a.
716,932
n.a.
n.a.
709,523
n.a.
n.a.
712,462
n.a.
n.a.
737,537
n.a.
n.a.
n.a.
397,867
n.a.
360,023
n.a.
470,976
n.a.
31,085
n.a.
34,215
n.a.
48,210
n.a.
29,480
n.a.
42,968
n.a.
43,526
n.a.
40,779
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end ofperiod)*
17 Total
18 FHA/VA insured
Mortgage transactions (during period)
20 Purchases
21 Sales
22 Mortgage commitments contracted (during period)9
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing
Finance Board in cooperation with the Federal Deposit Insurance Corporation.
2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the
seller) to obtain a loan.
3. Average effective interest rate on loans closed for purchase of newly built homes,
assuming prepayment at the end of ten years.
4. Average contract rate on new commitments for conventional first mortgages; from U.S.
Department of Housing and Urban Development (HUD). Based on transactions on the first
day of the subsequent month.
5. Average gross yield on thirty-year, minimum-do wnpayment first mortgages insured by
the Federal Housing Administration (FHA) for immediate delivery in the private secondary
market. Based on transactions on first day of subsequent month.
6. Average net yields to investors on fully modified pass-through securities backed by
mortgages and guaranteed by the Government National Mortgage Association (GNMA),
assuming prepayment in twelve years on pools of thirty-year mortgages insured by the
Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
7. Does not include standby commitments issued but includes standby commitments
converted.
8. Includes participation loans as well as whole loans.
9. Includes conventional and government-underwritten loans. The Federal Home Loan
Mortgage Corporation's mortgage commitments and mortgage transactions include activity
under mortgage securities swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
Real Estate
1.54
33
MORTGAGE DEBT OUTSTANDING1
Millions of dollars, end of period
Type of holder and property
Q4'
10,667,810
12,101,430'
13,511,710'
13,779,250
14,096,250
14,362,580'
14,603,110
14,740,480
By type of property
One- to four-family residences
Multifamily residences
Nonfarm, nonresidential
Farm
8,273,402
617,869
1,679,672
96,872
9,379,328'
687,682'
1,932,904'
101,518'
10,451,630'
741,158'
2,209,884'
109,038'
10,652,390
758,046
2,257,680
111,124
10,862,200
780,372
2,340,442
113,233
11,015,740'
804,588'
2,426,895'
115,365'
11,158,060
837,115
2,490,437
117,497
11,233,930
855,616
2,532,719
118,219
By type of holder
Major financial institutions . . .
Commercial banks2
One- to four-family
Multifamily
Nonfarm, nonresidential .
Farm
Savings institutions3
One- to four-family
Multifamily
Nonfarm, nonresidential .
Farm
Life insurance companies . .
One- to four-family
Multifamily
Nonfarm, nonresidential .
Farm
,926,324
,595,605
,580,992
118,710
860,670
35,233
,057,395
874,199
87,545
95,052
599
273,324
7,874
40,453
214,085
10,912
4,396,243'
2,958,042'
1,793,029'
138,702
989,372'
36,939'
1,152,738'
953,819'
98,352'
99,951'
616
285,463
7,746'
42,440
224,258
11,019'
4,780,819'
3,403,052'
2,081,766'
157,555'
1,123,210'
40,521'
1,073,967
867,831
95,792
109,604
740
303,800
11,301'
44,761
236,719
11,019'
4,810,107
3,386,400
2,053,931
159,697
1,132,251
40,521
1,117,259
911,458
93,627
111,394
780
306,448
11,056
45,208
239,165
11,019
4,897,281
3,472,132
2,105,412
161,648
1,164,551
40,521
1,112,812
905,278
92,570
114,158
806
312,337
11,062
46,141
244,115
11,019
4,989,289'
3,525,100'
2,128,207'
164,965'
1,191,407'
40,521'
1,146,869'
933,511'
94,773'
117,739'
846
317,320'
11,003'
46,910'
248,388'
11,019'
5,067,153
3,645,724
2,208,306
168,407
1,228,490
40,521
1,095,256
878,958
92,705
122,711
326,173
11,124
48,336
255,694
11,019
5,126,517
3,683,796
2,216,360
172,803
1,253,830
40,803
1,111,468
884,832
94,495
131,231
910
331,253
11,449
49,093
259,692
11,019
704,438
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
666,601'
34
34
0
72,937
13,014
11,493
45,213
3,217
4,819
1,370
3,449
0
0
0
688,678'
27
27
0
76,448
12,918
11,374
48,945
3,212
5,023
1,625
3,398
0
0
0
0
0
3
1
1
693,842
26
26
0
77,264
12,819
11,340
49,919
3,186
5,013
1,679
3,335
0
0
0
0
0
15
712,714
24
24
0
78,192
12,920
11,310
50,758
3,204
4,887
1,722
3,165
0
0
0
726,458
22
22
0
78,411
13,024
11,282
50,839
3,266
4,927
1,779
3,147
0
0
0
742,109
24
24
0
78,941
13,066
11,249
51,399
3,228
4,917
1,853
3,063
0
0
0
2
0
399,420
321,955
77,465
64,859
21,008'
43,851'
71,680
22,946
48,734
742
742
0
1
0
403,577
311,831
91,746
67,423
23,572
43,851
79,776
23,876
55,900
768
768
0
1
0
411,838
313,458
98,380
68,964
24,808
44,156
86,105
26,802
59,303
759
759
1 All holders
2
3
4
5
Q3
Federal and related agencies
Government National Mortgage Association
One- to four-family
Multifamily
Farmers Home Administration4
One- to four-family
Multifamily
Nonfarm, nonresidential
Farm
Federal Housing Admin, and Dept. of Veterans Affairs
One- to four-family
Multifamily
Resolution Trust Corporation
One- to four-family
Multifamily
Nonfarm, nonresidential
Farm
Federal Deposit Insurance Corporation
One- to four-family
Multifamily
Nonfarm, nonresidential
Farm
Federal National Mortgage Association
One- to four-family
Multifamily
Federal Land Banks
One- to four-family
Farm
Federal Home Loan Mortgage Corporation
One- to four-family
Multifamily
Federal Agricultural Mortgage Corporation
Farm
5
0
366,680'
314,801'
51,879'
54,640
14,515'
40,125'
61,428'
20,378'
41,050'
804
804
0
383,045'
322,703'
60,342'
59,897
16,046'
43,851'
65,536'
20,543'
44,993'
778
778
3
10
0
386,372
321,464
64,908
61,451
17,600
43,851
66,702
20,363
46,339
748
748
702,228
25
25
0
77,978
12,893
11,318
50,564
3,204
5,115
1,687
3,428
0
0
0
0
0
6
1
1
4
0
392,690
320,463
72,227
62,902
19,051
43,851
68,350
21,219
47,131
754
754
6,575,142'
410,021'
373,886'
36,135
1,450,721'
1,442,306'
8,415'
1,973,329'
1,894,396'
78,933'
0
0
0
0
0
2,737,888'
2,105,469'
103,229'
529,190'
0
3,183
3,183
6,821,362
412,958
376,802
36,157
1,515,034
1,506,246
8,788
2,024,330
1,943,357
80,973
0
0
0
0
0
2,865,638
2,187,446
110,563
567,629
0
3,402
3,402
7,056,351
417,018
380,808
36,211
1,571,033
1,561,920
9,113
2,083,085
1,999,762
83,323
0
0
0
0
0
2,980,535
2,256,223
118,250
606,062
0
4,679
4,679
7,217,958'
427,255'
390,856'
36,398
1,643,285'
1,633,753'
9,532'
2,167,980
2,081,261
86,719
0
0
0
0
0
2,974,820'
2,199,705'
125,251'
649,864'
0
4,618
4,618
7,381,689
443,461
406,822
36,640
1,717,342
1,706,684
10,658
2,298,191
2,206,263
91,928
0
0
0
0
0
2,918,152
2,132,365
124,928
660,859
0
4,543
4,543
7,441,639
461,481
424,708
36,772
1,762,586
1,751,647
10,939
2,373,863
2,278,908
94,955
0
0
0
0
0
2,839,256
2,062,046
122,275
654,935
0
4,453
4,453
1,467,074'
1,202,923'
96,202'
162,214'
5,734'
1,453,933
1,191,924
97,081
157,312
7,617
1,440,388
1,172,018
98,983
160,988
8,399
1,442,622'
1,163,985'
99,336'
168,737'
10,564'
1,427,810
1,141,911
101,410
171,842
12,647
1,430,217
1,133,434
102,261
181,631
12,891
1
2
7
0
400,157
355,687
44,470
52,793
15,070
37,723
61,320
23,374
37,946
887
887
55 Mortgage pools or trusts5
56
Government National Mortgage Association
57
One- to four-family
58
Multifamily
59
Federal Home Loan Mortgage Corporation .
60
One- to four-family
61
Multifamily
62
Federal National Mortgage Association
63
One- to four-family
64
Multifamily
65 Farmers Home Administration4
66
One- to four-family
67
Multifamily
68
Nonfarm, nonresidential
69
Farm
70
Private mortgage conduits
71
One- to four-family1"
72
Multifamily
73
Nonfarm, nonresidential
74
Farm
75
Federal Agricultural Mortgage Corporation .
76
Farm
4,834,403
441,235
409,089
32,147
1,189,393
1,173,847
15,546
1,743,061
1,673,339
69,722
0
0
0
0
938
938
5,673,395'
405,246
371,484
33,762
1,309,024'
1,294,521'
14,503'
1,826,779'
1,753,708'
73,071'
0
0
0
0
0
2,131,502'
1,609,699'
89,626
432,176'
0
844
844
77 Individuals and others7
78
One- to four-family
79
Multifamily
80
Nonfarm, nonresidential
81
Farm
1,202,649
981,482
83,275
130,547
7,345
1,365,193'
1,125,988'
89,322'
141,929'
7,954'
1,459,776
1,049,767
73,068
336,941
1. Multifamily debt refers to loans on structures of five or more units.
2. Includes loans held by nondeposit trust companies but not loans held by bank trust
departments.
3. Includes savings banks and savings and loan associations.
4. FmHA-guaranteed securities sold to the Federal Financing Bank were reallocated from
FmHA mortgage pools to FmHA mortgage holdings in 1986:Q4 because of accounting
changes by the Farmers Home Administration.
5. Outstanding principal balances of mortgage-backed securities insured or guaranteed by
the agency indicated.
6. Includes securitized home equity loans.
7. Other holders include mortgage companies, real estate investment trusts, state and local
credit agencies, state and local retirement funds, noninsured pension funds, credit unions, and
finance companies.
SOURCE: Based on data from various institutional and government sources. Separation of
nonfarm mortgage debt by type of property, if not reported directly, and interpolations and
extrapolations, when required for some quarters, are estimated in part by the Federal Reserve.
Line 70 from LoanPerformance Corporation and other sources.
34
Federal Reserve Bulletin Statistical Supplement • May 2008
1.55
TOTAL OUTSTANDING CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
2007
Holder and type of credit
2005
2006
2008
2007'
Nov.'
Dec'
Jan.'
Feb.'
Mar.'
Apr.
Seasonally adjusted
1 Total
2,284,876
2,387,470
2,523,639
2,521,986
2,523,639
2,535,793
2,542,881
2,555,997
2,564,945
2 Revolving
3 Nonrevolving2
824,963
1.459.913
875,406
1,512,064
940,609
1,583,030
939,020
1,582,966
940,609
1,583,030
946,545
1,589,249
950,735
1,592,146
956,562
1,599,434
956,863
1,608,082
Not seasonally adjusted
4 Total
2,313,862
2,418,262
2,556,618
2,532,016
2,556,618
2,556,972
2,541,774
2,538,693
2,550,766
By major holder
Commercial banks
Finance companies
Credit unions
Federal government and Sallie Mae
Savings institutions
Nonfinancial business
Pools of securitized assets3
707.039
516,534
228.588
89,822
109,077
58,817
603,986
741,200
534,354
234,532
91,676
95,547
56,757
664,197
804,096
583,869
235,700
98,396
90,787
55,167
688,602
788,005
575,330
237,654
98,452
87,188
55,254
690,133
804,096
583,869
235,700
98,396
90,787
55,167
688,602
808,704
581,032
234,066
102,377
89,684
53,221
687,888
800,042
578,604
232,276
103,122
88,651
51,939
687,139
796,312
582,460
230,546
103,537
87,548
51,229
687,060
808,002
585,163
231,683
103,761
88,100
51,141
682,917
By major type of credit
12 Revolving
13
Commercial banks
14 Finance companies
15
Credit unions
16 Federal government and Sallie Mae
17
Savings institutions
18
Nonfinancial business
19 Pools of securitized assets3
849,975
311,204
66,307
24,688
n.a.
40.755
11,598
395,423
902,316
327,302
79,874
27,388
n.a.
42.459
7,779
417,514
969,523
353,446
86,046
31,071
n.a.
44.750
4,228
449,982
944,559
336,176
82,948
29,919
n.a.
40.694
7,429
447,393
969,523
353,446
86,046
31,071
n.a.
44.750
4,228
449,982
957,919
338,287
84,895
30,802
n.a.
44.077
3,987
455,872
948,899
330,184
83,447
30,450
n.a.
43.446
3,808
457,564
943,456
322,463
82,060
30,452
n.a.
42.773
3,657
462,051
949,251
327,691
82,840
30,730
n.a.
43.510
3,731
460,750
20 Nonrevolving
21
Commercial banks
22
Finance companies
23
Credit unions
24 Federal government and Sallie Mae
25
Savings institutions
26
Nonfinancial business
27
Pools of securitized assets3
1,463,887
395,835
450,226
203,900
89,822
68,322
47,219
208,564
1,515,946
413,898
454,480
207,144
91,676
53,088
48,978
246,683
1,587,095
450,650
497,823
204,629
98,396
46,037
50,939
238,621
1 587 457
451,828
492,383
207,735
98,452
46,494
47,825
242,740
1,587,095
450,650
497,823
204,629
98,396
46,037
50,939
238,621
1,599,054
470,417
496,138
203,264
102,377
45,607
49,234
232,016
1,592,875
469,859
495,157
201,826
103,122
45,205
48,131
229,575
1,595,236
473,849
500,400
200,094
103,537
44,775
47,572
225,009
1,601,515
480,312
502,322
200,953
103,761
44,590
47,410
222,167
5
6
7
8
9
10
11
1. The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals, excluding loans secured by real estate. Data in this table also appear
in the Board's G.19 (421) monthly statistical release, available at www.federalreserve.gov/
releases.
2. Comprises motor vehicle loans, mobile home loans, and all other loans that are not
included in revolving credit, such as loans for education, boats, trailers, or vacations. These
loans may be secured or unsecured.
1.56
3. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
4. Totals include estimates for certain holders for which only consumer credit totals are
available.
TERMS OF CONSUMER CREDIT1
Percent per year except as noted
2007
Item
2005
2006
2008
2007
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
INTEREST RATES
Commercial banks2
1 48-month new car
7.08
12 05
7.72
12 41
7.77
12 39
na
7.82
12 51
na
na
7.59
12 16
n.a.
n.a.
12.51
14.55
13.21
14.73
13.38
14.67
na
na
13.58
15.24
na
na
na
na
13.08
14.34
n.a.
n.a.
n.a.
n.a.
6.02
8.81
4.99
9.61
4.87
9.24
5.06
8.81
4.65
8.83
4.83
8.95
4.60
9.46
4.72
9.74
4.33
9.73
4.97
9.06
60.0
58.6
63.0
59.4
62.0
60.7
60.5
61.5
62.6
60.5
63.3
60.5
63.6
60.3
62.7
60.4
62.5
60.5
62.3
58.9
88
98
94
99
95
100
95
102
95
101
96
100
95
99
95
98
95
97
94
96
24.133
16,228
26.620
16,671
28.287
17,095
27.583
17,230
28.639
17,109
28.826
17,117
30.133
17,162
29.327
17,184
29.076
17,371
28.231
17,220
Credit card plan
4 Accounts assessed interest
Auto finance companies
6 Used car
OTHER TERMS3
Maturity (months)
8 Used car
Loan-to-value ratio
10 Used car
Amount financed (dollars)
11 New car
12 Used car
1. The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals. Data in this table also appear in the Board's G.19 (421) monthly
statistical release, available at www.federalreserve.gov/releases.
2. Data are available for only the second month of each quarter.
3. At auto finance companies.
Flow of Funds
1.57
35
FUNDS RAISED IN U.S. CREDIT MARKETS1
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q3
Q4
Ql'
Q3'
Nonfinancial sectors
1,398.6'
1,667.7'
1,957.7'
2,247.3'
2,332.4'
2,324.7'
2,029.5'
2,308.1'
2,307.5
2,101.0
2,742.5
2,315.5
-57.9
257.1
.5
159.4
129.3
-106.6
15.7
893.1'
758.6'
37.1
90.5
6.9
107.9
-37.3'
398.4
-2.4
137.6
150.4
-77.0
5.5
988.2'
798.9'
71.2
119.4
-1.3
104.4
15.3'
362.5
-.6
130.5
74.4
10.8
20.4
1,229.3'
1,028.1'
48.3
150.2
2.7
115.0
-7.7'
307.3
-.4
195.0
53.6
137.6
47.7
1,419.8'
1,106.0'
71.7
237.5'
4.6
94.5
22.4'
183.7
— .3
177.3
213.4
173.4
54.8'
1,403.2'
1,072.3'
52.7'
270.7'
7.5
104.4
22.9'
49.7
.2
172.6
201.0
99.0
121.9'
1,529.7'
1,232.5'
43.1'
246.6'
7.5
127.8
-21.5'
172.4
-1.0
169.2
133.8
163.1
-36.1'
1,330.0'
1,006.0'
35.9
280.5'
7.6
119.7
111.1'
135.8
.5
252.8
315.9
223.2
68.5'
1,091.5'
730.9'
68.0'
285.0'
7.6
108.9
18.9
327.5
-1.3
249.1
282.2
85.2
81.3
1,149.4
846.0
63.1
231.9
8.3
115.1
40.9
-70.7
-.1
246.7
377.5
92.3
79.6
1,197.0
784.8
95.2
308.6
8.4
137.7
-30.6
435.9
-.8
165.5
225.2
420.1
299.1
1,026.1
577.2
104.5
335.8
8.5
202.1
16.0
257.1
.7
198.7
371.6
397.9
3.7
971.4
618.5
129.7
214.7
8.5
98.5
832.9'
164.2
9.1
148.0
7.1
143.9
257.6
981.0'
170.4'
80.0'
92.1
-1.6
120.3
396.0
1,064.0'
416.6'
165.8'
244.7
6.1
115.3
361.9
1,180.9'
587.9'
243.6'
331.6
12.7
171.6
306.9
1,196.9'
800.9'
433.4'
349.1'
18.4
151.2
183.4
1,379.9'
758.5'
420.9'
320.2'
17.4
136.4
49.9
1,112.8'
598.1'
248.2'
336.1'
13.9
147.2
171.4
937.9'
1,015.8'
634.4'
358.8'
22.6
218.2
136.3
905.4
851.0
528.0
297.4
25.6
224.9
326.2
942.8
1,016.5
625.5
379.9
11.1
212.4
-70.8
856.2
1,312.7
767.7
532.4
12.6
138.5
435.0
829.9
1,062.8
577.4
461.2
24.2
164.8
257.8
22 Foreign net borrowing in United States
93.4r
42.4'
130.7'
102.6'
254.4'
105.6'
523.0'
253.6'
136.1
227.4
2.9
21.7
23
24
25
26
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
58.8'
31.6
5.3
-2.3
18.3'
28.7
-2.5
-2.1
68.7'
61.8
3.8
-3.6
38.2'
54.5
14.5
-4.6
97.1'
150.9
13.8
-7.4
-61.8'
144.6
30.8
-8.0
362.8'
180.2
-12.2
-7.7
8.6'
218.0
31.6
-4.6
-19.8
174.8
-16.0
-3.0
22.4
167.3
40.7
-2.9
-193.8
173.2
26.3
-2.9
-78.3
56.1
45.3
-1.3
27 Total domestic plus foreign
l,491.9 r
1,710.1'
2,088.5'
2,349.9'
2,586.8'
2,430.3'
2,552.6'
2,561.7'
2,443.6
2,328.4
2,745.3
2,337.2
1 Total net borrowing by domestic nonfinancial sectors
2
3
4
5
6
7
8
9
10
11
12
13
14
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
15
16
17
18
19
20
21
By borrowing sector
Household
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
Financial sectors
870.3'
1,060.8'
968.7'
1,064.0'
1,287.7'
1,576.4'
931.3'
1,249.0'
1,264.2
1,398.0
2,348.0
29
30
31
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
-99.9'
219.8
326.8
384.8'
21.1
6.8
11.0
-62.9'
250.9
330.6
481.4'
21.4
31.2
8.2
22.2'
75.0
47.9
665.5'
58.1
74.1
25.9
214.6'
-84.0
167.3
691.0'
17.0
44.4
13.9
197.6'
35.6
295.4
795.0'
-64.1
21.2
7.0
337.5'
195.2
299.8
714.5'
-15.7
38.1
7.1
72.2'
-83.5
284.4
663.2'
-42.8
29.9
7.8
174.3'
40.7
278.9
981.5'
-216.8
-3.9
-5.8
233.5
66.7
482.5
476.3
51.0
-30.5
-15.2
362.6
161.4
534.9
280.8
48.9
.4
9.0
-689.5
556.6
622.2
997.8
101.6
746.2
12.9
-360.0
344.8
866.3
274.6
27.5
187.0
16.1
36
37
38
39
40
41
42
43
44
45
46
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Finance companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
49.7
-23.4
2.0
2.0
219.8
326.8
212.3'
66.2
27.3
-1.7
-10.7'
48.5
34.5
2.2
2.9
250.9
330.6
244.2'
111.1
31.5
6.4
-1.9'
78.4
89.0
2.3
3.0
75.0
47.9
427.3'
134.3
98.3
15.2
-2.2'
85.1
23.8
3.3
.4
-84.0
167.3
669.2'
33.5
59.8
.1
105.6'
177.4
-111.9
4.2
2.7
35.6
295.4
772.0'
34.8
41.1
6.4
29.9'
171.8
-1.8
6.8
1.3
195.2
299.8
667.8'
89.1
56.5
6.5
83.5'
51.6
17.1
2.0
2.4
-83.5
284.4
701.1'
-36.6
32.8
5.0
-44.9'
400.6
-463.3
8.4
4.3
40.7
278.9
910.9'
69.0
14.0
-20.9
6.4'
90.9
-20.7
-10.5
4.9
66.7
482.5
428.8
13.9
2.2
59.5
146.0
147.1
-24.6
10.6
12.6
161.4
534.9
472.8
9.3
-21.2
39.9
55.3
496.2
363.5
37.9
26.9
556.6
622.2
97.7
122.1
-14.7
-29.4
69.0
318.6
71.1
15.7
13.7
344.8
866.3
-285.2
-45.6
10.4
-85.9
132.4
28 Total net borrowing by financial sectors
36
Federal Reserve Bulletin Statistical Supplement • May 2008
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS1—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
47 Total net borrowing, all sectors ..
48
49
50
51
52
53
54
55
56
Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
Q3
Q4
Ql'
Q3'
2,362.2r
2,770.9'
3,057.2'
3,413.9'
3,874.5'
4,006.7'
3,483.9'
3,810.8'
3,707.8
3,726.4
5,093.3
3,693.5
-99.1
257.1
547.2
159.4
545.7r
-80.2
20.2
904.1r
107.9
-82.0
398.4
579.1
137.6
660.5'
-58.1
34.6
996.4'
104.4
106.2
362.5
122.3
130.5
801.8'
72.7
90.9
1.255.2'
115.0
245.1
307.3
82.8
195.0
799.0'
169.1
87.4
1.433.8'
94.5
317.1
183.7
330.6
177.3
1,159.3'
123.1
68.6'
1.410.3'
104.4
298.6'
49.7
495.2
172.6
1,060.0'
114.2
152.0'
1,536.8'
127.8
413.6'
172.4
199.9
169.2
977.2'
108.1
-13.9'
1,337.8'
119.7
294.1'
135.8
320.1
252.8
1,515.4'
38.0
60.0'
1,085.7'
108.9
232.6
327.5
547.9
249.1
933.4
120.2
47.8
1,134.2
115.1
426.0
-70.7
696.2
246.7
825.6
181.9
77.0
1,206.0
137.7
-913.9
435.9
1,178.0
165.5
1,396.3
548.0
1,042.3
1,039.0
202.1
-422.4
257.1
1,211.9
198.7
702.2
470.7
189.4
987.5
98.5
Funds raised through mutual funds and corporate equities
57 Total net issues
227.4
427.5
366.0
110.9
-80.4
-155.3
-274.8
16.6
193.6
-80.6
-207.1
-657.4
58 Corporate equities
59
Nonfmancial corporations
60
Foreign shares purchased by U.S. residents
61
Financial corporations
62 Mutual fund shares
46.4
-41.6
17.0
71.0
181.1
138.9
-42.0
118.0
62.9
288.6
67.7
-126.6
84.8
109.5
298.2
-149.3
-363.4
142.6
71.5
260.2
-417.2
-614.1
138.5
58.4
336.8
-423.7
-601.6
91.4
86.5
268.4
-512.6
-534.0
41.8
-20.4
237.8
-349.1
-751.2
251.0
151.2
365.6
-315.0
-572.8
174.0
83.8
508.6
-604.5
-814.0
161.5
48.0
523.9
-453.5
-831.2
227.6
150.1
246.4
-840.3
-1,124.8
-39.2
323.6
183.0
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.2
through F.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.58
37
SUMMARY OF FINANCIAL TRANSACTIONS1
Billions of dollars except as noted; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q2
Q3
Q4
Ql'
Q2'
Q3'
Q4'
NET LENDING IN CREDIT MARKETS2
1 Total net lending in credit markets
2 Domestic nonfinancial sectors
3
Household
4
Nonfinancial corporate business
5
Nonfarm noncorporate business
6
State and local governments
7
Federal government
8 Rest of the world
9 Financial sectors
10
Monetary authority
11
Commercial banking
12
U.S.-chartered commercial banks
13
Foreign banking offices in United States .
14
Bank holding companies
15
Banks in U.S.-affiliated areas
16
Savings institutions
17
Credit unions
18 Property-casualty insurance companies . . .
19 Life insurance companies
20
Private pension funds
21
State and local government retirement funds
22
Federal government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Exchange-traded funds
27
Government-sponsored enterprises
28 Agency- and GSE-backed mortgage pools .
29
Asset-backed securities issuers (ABSs) . . . .
30
Finance companies
31
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
2,362.2'
2,770.9'
3,057.2'
3,413.9'
3,874.5'
4,006.7'
3,483.9'
3,810.8'
3,707.8
3,726.4
5,093.3
3,693.5
152.0'
35.9'
25.8
-.8
86.2
4.9
467.2'
1,743.1
77.7
404.4
393.8
6.2
3.1
1.3
33.4
44.2
39.9
233.0
-8.6
-50.7
12.7
-17.7
138.7
8.6
3.7
224.1
326.8
219.0
103.7
23.8
28.4
-102.1
157.8'
103.4'
-3.2
1.5
58.3
-2.1
582.8'
2,030.2
37.2
332.9
352.2
-38.5
8.6
10.6
127.3
51.2
67.0
180.6
69.2
18.8
6.0
-95.9
138.0
35.5
.7
241.0
330.6
233.2
122.9
25.7
79.6
28.6
291.6'
173.9'
31.1
11.5
72.4
2.7
854.4'
1,911.1
51.2
608.0
571.1
23.0
.0
13.9
103.5
39.8
73.6
173.0
293.8'
203.7'
-10.9'
12.3
84.6
4.0
855.0'
2,725.7'
34.7
761.7
656.3
103.7
3.3
-1.7
-98.1
30.1
47.7
75.6
14.0
76.3
8.4
220.0
184.9
6.7
5.7
46.6
295.4
725.8'
89.7
57.5
106.2
36.9'
152.3'
62.0'
-8.3'
9.9'
77.5
17.8
4.7
-124.9
116.6
11.0
3.8
48.9
47.9
416.2
214.9
87.9
-29.2
47.0
284.5'
109.3'
42.3
11.4
124.1
-2.7
749.0'
2,380.4'
26.4
658.4
507.9
144.5
-4.2
10.2
199.3
36.2
66.9
110.3
44.5
18.1
7.7
-5.5
124.1
1.5
6.8
-69.1
167.3
673.6'
117.2
66.9
82.3
47.5
968.6'
2,885.8'
36.1
783.0
662.3
136.9
-8.0
-8.2
122.3
26.6
48.3
89.6
48.0
147.7
17.8
185.3
147.6
16.5
9.1
91.3
299.8
704.2'
96.0
57.7
63.4
-104.5'
286.6'
277.2'
-70.5'
12.6'
81.3
-14.0
724.1'
2,473.2'
21.4
154.5
57.3
94.0
6.6
-3.3
258.1
7.9
31.8
48.6
38.9
14.4
7.6'
362.1
130.8
-4.9
2.8
-30.4
284.4
721.3'
158.1
44.5
162.5
58.6'
332.8'
181.0'
7.5'
12.5'
122.9
8.9
952.2'
2,525.8'
21.4
1,274.7
1,165.9
100.3
8.0
.5
-859.7
27.7
50.6
7.7
41.6
43.7
2.5
216.5
232.6
5.5
7.9
51.7
278.9
728.6'
-5.8
87.1
218.5
94.1'
90.5
-185.6
98.7
12.1
145.0
20.3
1,017.9
2,599.4
13.0
204.1
39.3
188.2
-16.8
-6.5
189.1
39.8
32.8
94.3
30.7
-8.4
14.9
431.1
285.2
-.9
6.8
-86.9
482.5
585.2
56.5
-36.2
279.7
-13.9
189.6
78.6
-62.4
14.0
144.9
14.6
866.5
2,670.3
44.7
678.4
489.7
194.9
-5.3
-.9
67.4
24.6
34.7
99.5
39.6
18.6
3.4
290.4
365.6
13.9
15.6
81.0
534.9
484.0
-34.7
-48.8
-199.0
156.4
645.1
867.6
-195.6
17.3
-40.1
-4.2
587.2
3,861.0
-33.7
963.4
704.5
238.1
21.4
-.7
136.8
40.9
34.0
99.3
50.1
61.3
17.5
444.2
184.4
-18.0
9.6
673.3
622.2
167.1
110.5
-135.8
436.3
-2.5
515.4
631.3
-86.2
16.4
-57.0
11.0
835.2
2,342.8
-177.2
1,157.4
882.2
185.7
93.0
-3.5
-130.6
35.7
4.4
45.5
14.0
49.1
11.1
396.9
249.3
5.9
18.9
288.6
866.3
-242.1
-92.9
8.6
362.0
-528.3
3,057.2'
3,413.9"
3,874.5"
4,006.7'
3,483.9'
3,810.8'
3,707.8
3,726.4
5,093.3
3,693.5
2.0
.0
.8
282.0
-196.0'
29.2
232.7
308.8
274.2
278.8
-423.7
268.4
367.9'
178.7
53.1
310.0
4.7
-50.5'
1,998.9'
-4.2
.0
1.0
-38.7
43.9
-73.0
336.8
344.7
418.0
602.2
-512.6
237.8
123.3'
173.0
76.3
161.8
21.3'
-26.6'
2,007.7'
-5.9
.0
.0
-64.4
116.5'
-75.2
578.7
-3.6
378.8
619.1
-349.1
365.6
211.0'
274.2
75.4
216.9
28.4'
-62.6'
1,538.5'
.4
284.6
-487.0
91.9
386.4
276.7
441.4
707.9
-315.0
508.6
295.5
105.5
28.4
136.4
33.1
15.0
1,208.9
-.3
.0
1.3
395.3
22.2
-99.2
205.8
107.4
442.5
116.6
-604.5
523.9
334.0
365.7
36.4
149.2
11.9
-48.4
3,550.3
.1
.0
1.4
185.7
205.5
124.0
329.4
529.0
1,260.4
222.3
-453.5
246.4
283.6
-19.1
28.9
164.4
26.1
-122.0
2,225.8
-.4
41.3
100.8
.9
223.8
365.3
819.9
-670.4
-840.3
183.0
221.5
653.9
43.1
227.7
25.4
-107.5
1,049.5
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Netflowsthrough credit markets
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
Other financial sources
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank transactions
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Corporate equities
Mutual fund shares
Trade payables
Security credit
Life insurance reserves
Pension fund reserves
Taxes payable
Noncorporate proprietors' equity
Miscellaneous
54 Total financial sources
55
56
57
58
59
60
Liabilities not identified as assets (—)
Treasury currency
Foreign deposits
Net interbank liabilities
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (—)
61 Federal government checkable deposits
62 Other checkable deposits
63 Trade credit
64 Total identified to sectors as assets
3.2
.0
1.0
21.0
17.4
-8.3
325.4
50.0
-16.7
106.6
46.4
181.1
86.7
-87.0
60.1
262.9
22.2
-84.1
505.3'
-.9
.0
.6
36.0
-14.5
85.0
307.4
55.8
-207.5
218.7
138.9
288.6
22.4
120.0
66.8
258.5
-1.1
45.0
456.9'
-3.2
.0
.7
89.9
19.4
84.8
281.6
252.9
-136.5
88.1
67.7
298.2
194.4
179.4
33.1
288.4
28.5
-18.0
1,616.0'
-9.6
.0
.8
67.8
-12.4
3.5
314.4
284.4
127.0
350.8
-149.3
260.2
336.6
16.1
238.3
28.1
-137.8
1,389.1
-2.6
.0
.6
98.8
-11.2
-18.7
347.0
261.2
305.3
496.0
-417.2
336.8
217.4'
211.5
65.6
198.2
19.9
-54.0'
1,724.0'
3,855.6'
4,647.3'
6,422.6'
6,522.1'
7,653.1'
7,926.6'
7,376.6'
7,653.2'
7,426.7
9,236.7
10,331.7
6,030.6
-.6
21.5
7.2
36.0
19.7
-23.0'
52.8
-4.3
-33.9
-42.6
-26.2'
-.3
61.9
14.9
-139.9
-20.2
198.8'
.7
40.6
-3.7
134.2
-18.1
177.8'
-1.1
114.3'
-1.9
297.9'
1.9
-201.2'
.3
291.3'
4.5
303.7'
1.9
-300.2'
.6
37.0'
48.1
144.6
24.1
-123.7'
-.5
-138.0'
-71.8
601.8'
23.7
-44.5'
-.3
297.0
50.5
-73.6
-29.2
-958.6
.7
377.1
-54.5
-33.9
-23.0
647.3
.9
49.0
-12.6
103.8
-24.3
-172.5
-.6
-59.5
23.7
-814.6
-5.5
934.5
-1.6
-.7
164.9'
-8.9
.0
20.6'
27.9
-.8
9.4'
-6.6
-.9
-31.7'
-3.0
-.5
96.6'
2.1
-.8
163.4'
16.4
-.9
76.9'
-19.1
-.8
140.0'
-5.9
-.8
276.7
-.5
-1.3
-54.1
13.5
-.8
-8.5
-2.4
-1.2
8.4
3,632.1'
4,690.1'
7,162.5'
7,870.9
8,378.8
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.I
and F.5, available at www.federalreserve.gov/releases.
2. Excludes corporate equities and mutual fund shares.
5,947.9
38
Federal Reserve Bulletin Statistical Supplement • May 2008
1.59
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING1
Billions of dollars, end of period
2006
Transaction category or sector
2003
2004
2005
2007
2006
Q3
Q2
Q4
Ql'
Q2'
Q3'
Q4'
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
22,327.3'
24,299.8'
26,547.1'
28,876.2'
27,754.8'
28,268.7'
28,876.2'
29,463.5
29,956.2
30,622.2
31,249.3
2
3
4
5
6
7
8
9
10
11
12
13
14
By instrument
Commercial paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities and loans
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Home
Multifamily residential
Commercial
Farm
Consumer credit
82.5'
4,008.2
24.9
1,900.5
2,870.1
1,088.4
955.4
9,293.1'
7 230 5'
543.6
1 424 8
94.1
2 104 4
97.8'
4,370.7
24.3
2,031.0
2,944.5
1,099.2
975.8
10,537.2'
8,273.4'
591.9
1,575.0
96.9
2 219 4
90.1'
4,678.0
23.8
2,225.9
2,998.1
1,236.8
1,023.5
11,957.0'
9,379.4'
663.6
1,812.5'
101.5
2 313 9
112.5'
4,861.7
23.5
2,403.2
3,211.5
1,410.2
1,075.1'
13,360.2'
10,451.7'
716.3'
2,083.2'
109.0
2,418.3
111.7'
4,759.6
23.6
2,305.8
3,099.1
1,316.4
1,070.5'
12,752.4'
10,018.4'
690.3'
1,938.5'
105.2
2,315.8
110.6'
4,803.2
23.4
2,332.7
3,132.5
1,361.6
1,046.2'
13,091.5'
10,279.0'
699.3'
2,006.2'
107.1
2,367.0
112.5'
4,861.7
23.5
2,403.2
3,211.5
1,410.2
1,075.1'
13,360.2'
10,451.7'
716.3'
2,083.2'
109.0
2,418.3
126.2
5,014.3
23.2
2,465.6
3,282.1
1,433.9
1,087.3
13,631.5
10,652.4
732.1
2,135.9
111.1
2,399.5
154.3
4,904.0
23.2
2,533.8
3,376.4
1,466.2
1,118.7
13,946.3
10,862.2
755.8
2,215.0
113.2
2,433.3
131.4
5,010.0
23.0
2,560.8
3,432.7
1,572.7
1,176.0
14,209.5
11,015.8
782.0
2,296.3
115.4
2,506.1
123.8
5,099.2
23.1
2,618.2
3,525.6
1,665.6
1,191.0
14,446.2
11,158.3
814.4
2,356.0
117.5
2,556.6
15
16
17
18
19
20
21
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
9 499 5'
7,227.2'
4,860.3'
2,198.8
168.1
1,567.6
4,033.1
10 578 2'
7,643.7'
5,026.0'
2,443.5
174.2
1,682.8
4,395.0
11 759 2'
8,231.6'
5,269.6'
2,775.0
186.9
1,854.4
4,701.9
12,956.1'
9,029.3'
5,699.8'
3,124.2'
205.3
2,005.6
4,885.3
12,402.9'
8,646.8'
5,501.6'
2,950.4'
194.8
1,922.0
4,783.2
12,715.4'
8,781.3'
5,548.5'
3,033.1'
199.7
1,945.4
4,826.6
12,956.1'
9,029.3'
5,699.8'
3,124.2'
205.3
2,005.6
4,885.3
13,129.0
9,234.7
5,829.2
3,198.1
207.4
2,062.4
5,037.4
13,378.2
9,529.6
6,023.3
3,293.4
212.9
2,121.2
4,927.2
13,628.0
9,817.8
6,175.0
3,425.1
217.7
2,143.5
5,032.9
13,839.7
10,096.6
6,331.0
3,541.9
223.7
2,190.7
5,122.3
22 Foreign credit market debt held in
United States
1,258.1'
1,445.7'
1,528.9'
1,785.1'
1,585.6'
1,716.9'
1,785.1'
1,799.0
1,848.5
1,849.6
1,862.6
275.5'
874.4
66.1
42.2
344.2'
993.0
69.9
38.6
382.4'
1,028.2
84.4
34.0
479.5'
1,180.8
98.3
26.6
383.0'
1,079.5
93.4
29.7
474.3'
1,124.6
90.4
27.7
479.5'
1,180.8
98.3
26.6
474.0
1,224.5
74.7
25.8
472.2
1,266.3
84.9
25.1
424.2
1,309.6
91.5
24.4
412.2
1,323.6
102.8
24.0
23,585.4'
25,745.5'
28,076.0'
30,661.3'
29,340.5'
29,985.6'
30,661.3'
31,262.5
31,804.7
32,471.8
33,111.9
23
24
25
26
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total credit market debt owed by nonfinancial
sectors, domestic and foreign
Financial sectors
28 Total credit market debt owed by
financial sectors
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool
securities
Corporate bonds
Bank loans n e e
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
47
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Brokers and dealers
Finance companies
Real estate investment trusts (REITs)
Funding corporations
29
30
31
10,875.5'
11,859.0'
12,868.5'
14,153.7'
13,587.0'
13,816.8'
14,153.7'
14,449.0
14,800.4
15,384.9
15,745.3
935.0'
2,601.3
957.1'
2,676.3
1,171.7'
2,592.2
1,366.0'
2,627.8
1,270.2'
2,638.5
1,280.5'
2,617.6
1,366.0'
2,627.8
1,403.5
2,644.5
1,483.3
2,684.8
1,302.0
2,824.0
1,252.6
2,910.2
3,326.7
3,242.1'
164.0
501.7
104.7
3 374.6
3,922.5'
222.1
575.8
130.6
3,541.9
4,559.0'
239.1
620.2
144.5
3,837.3
5,354.8'
175.0
641.4
151.5
3,681.6
4,967.1'
237.2
641.5
151.0
3,763.1
5,129.9'
229.0
643.7
153.0
3,837.3
5,354.8'
175.0
641.4
151.5
3,955.7
5,489.9
183.3
624.4
147.7
4,075.8
5,567.8
196.8
642.0
150.0
4,243.2
5,815.5
225.2
821.8
153.2
4,463.7
5,862.1
232.2
867.1
157.2
338.6
321.8
296.8
9.1
8.0
2,601.3
3,326.7
2,181.7'
47.0
995.3
230.0
519.3'
357.4
381.3
385.8
11.4
11.1
2,676.3
3,374.6
2,609.0'
62.2
1,129.6
343.2
517.1'
394.3
429.5
409.6
14.7
11.5
2,592.2
3,541.9
3,278.3'
62.4
1,108.6
402.9
622.7'
498.3
499.7
297.8
18.9
14.2
2,627.8
3,837.3
4,050.3'
68.8
1,144.2
444.0
652.5'
422.6
467.0
411.2
16.3
12.5
2,638.5
3,681.6
3,650.7'
72.8
1,122.2
432.4
659.3'
424.1
476.2
412.4
16.8
13.1
2,617.6
3,763.1
3,816.8'
74.0
1,119.5
440.5
642.6'
498.3
499.7
297.8
18.9
14.2
2,627.8
3,837.3
4,050.3'
68.8
1,144.2
444.0
652.5'
495.3
520.3
288.3
16.2
15.4
2,644.5
3,955.7
4,155.3
83.7
1,133.6
444.6
696.1
511.0
551.5
289.5
18.9
18.6
2,684.8
4,075.8
4,280.5
93.6
1,135.2
439.3
701.8
597.5
586.8
375.9
28.4
25.3
2,824.0
4,243.2
4,294.9
86.3
1,173.3
435.6
713.8
630.1
631.1
395.1
32.3
28.7
2,910.2
4,463.7
4,228.8
64.8
1,169.1
438.2
753.2
All sectors
48 Total credit market debt, domestic and foreign .
49
50
51
52
53
54
55
56
57
Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Bank loans n e e
Other loans and advances
Mortgages
Consumer credit
34,460.9'
37,604.5'
40,944.6'
44,814.9'
42,927.5'
43,802.4'
44,814.9'
45,711.5
46,605.1
47,856.7
48,857.2
1,292.9
4,008.2
5,952.9
1,900.5
6,986.6'
1,318.4
1 499 3
9,397.7'
2,104.4
1,399.1
4,370.7
6,075.2
2,031.0
7,860.0'
1,391.2
1 590 2
10,667.7'
2,219.4
1,644.2
4,678.0
6,158.0
2,225.9
8,585.2'
1,560.3
1 677 6
12,101.5'
2,313.9
1,958.0
4,861.7
6,488.6
2,403.2
9,747.0'
1,683.4
1,743.0'
13,511.7'
2,418.3
1,764.9
4,759.6
6,343.7
2,305.8
9,145.7'
1,647.0
1,741.7'
12,903.4'
2,315.8
1,865.3
4,803.2
6,404.1
2,332.7
9,387.0'
1,681.0
1,717.6'
13,244.5'
2,367.0
1,958.0
4,861.7
6,488.6
2,403.2
9,747.0'
1,683.4
1,743.0'
13,511.7'
2,418.3
2,003.7
5,014.3
6,623.4
2,465.6
9,996.4
1,692.0
1,737.5
13,779.2
2,399.5
2,109.8
4,904.0
6,783.8
2,533.8
10,210.5
1,747.9
1,785.8
14,096.2
2,433.3
1,857.6
5,010.0
7,090.2
2,560.8
10,557.9
1,889.4
2,022.1
14,362.7
2,506.1
1,788.6
5,099.2
7,397.1
2,618.2
10,711.4
2,000.6
2,082.1
14,603.4
2,556.6
1. Data in this table appear in the Board's Z.I quarterly statistical release, tables L.2
through L.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction category or sector
Q3
Q4
Q3'
Q4'
2
CREDIT MARKET DEBT OUTSTANDING
Total credit market assets
34,460.9'
37,604.5'
40,944.6'
44,814.9' 42,927.5'
43,802.4'
44,814.9"
45,711.5
46,605.1
47,856.7
48,857.2
Domestic nonfinancial sectors
Household
Nonfinancial corporate business
Nonfarm noncorporate business
State and local governments
Federal government
Rest of the world
Financial sectors
Monetary authority
Commercial banking
U.S.-chartered commercial banks
Foreign banking offices in United States . .
Bank holding companies
Banks in U.S.-affiliated areas
Savings institutions
Credit unions
Property-casualty insurance companies . . . .
Life insurance companies
Private pension funds
State and local government retirement funds
Federal government retirement funds
Money market mutual funds
Mutual funds
Closed-end funds
Exchange-traded funds
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Asset-backed securities (ABSs) issuers
Finance companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
4,686.6'
2,947.1'
266.2
73.9
1,125.6
273.8
3,836.1
25,938.1'
666.7
5,994.3
5,390.6
490.3
36.4
76.9
1,293.9
516.6
625.2
2,488.3
646.5'
657.5
63.6
1,471.3
1,506.4
152.6
4.5
2,564.2
3,326.7
2,081.5
1,204.9
97.5
424.1
152.0
5,085.8'
3,228.4'
297.4
85.4
1,198.1
276.5
4,634.7
27,884.0'
717.8
6,602.3
5,961.8
513.3
36.4
90.8
1,417.4
556.4
698.8
2,661.4
646.1'
675.3
68.2
1,346.3
1,623.0
163.6
8.2
2,613.0
3,374.6
2,497.7
1,419.8
200.1
394.9
198.9
5,498.0'
3,465.6'
339.6
96.8
1,322.2
273.8
5,188.3
30,258.2'
744.2
7,260.7
6,469.7
657.8
32.2
101.0
1,616.7
592.6
765.8
2,765.4
690.6'
693.4
76.0
1,340.8
1,747.1
165.1
15.0
2,543.9
3,541.9
3,171.3'
1,537.1
267.0
477.2
246.4
5,832.2'
3,709.6'
328.8'
109.1
1,406.8
277.9
6,040.5'
32,942.3'
778.9
8,019.1
7,122.7
761.6
35.6
99.3
1,518.6
622.7
813.5
2,806.1
704.6'
769.7
84.3
1,560.8
1,932.0
171.8
20.7
2,590.5
3,837.3
3,897.1'
1,626.8
324.5
583.4
279.9'
5,647.0'
3 579.9'
326.8'
102.8'
1,360.5
277.0
5,628.7'
31,651.8'
766.4
7,649.6
6,806.5
711.2
31.9
99.9
1,679.5
615.6
792.9
2,827.9
684.5'
755.1
81.8
1,375.9
1,839.5
171.7
18.0
2,591.2
3,681.6
3,538.0'
1,574.4
291.6
470.0
246.8'
5,705.4
3,624.3'
320.2'
106.0'
1,376.9
278.0
5,807.5'
32,289.5'
768.9
7,696.9
6,828.0
736.2
33.6
99.1
1,744.5
618.9
800.8
2,842.5
694.2'
758.7
83.7
1,461.2
1,874.0
170.4
18.7
2,579.0
3,763.1
3,709.2'
1,608.2
302.7
537.3
256.4'
5,832.2'
3,709.6'
328.8'
109.1
1,406.8
277.9
6,040.5'
32,942.3'
778.9
8,019.1
7,122.7
761.6
35.6
99.3
1,518.6
622.7
813.5
2,806.1
704.6'
769.7
84.3
1,560.8
1,932.0
171.8
20.7
2,590.5
3,837.3
3,897.1'
1,626.8
324.5
583.4
279.9'
5,891.1
3,721.1
332.0
112.1
1,442.6
283.2
6,292.4
33,528.0
780.9
8,025.9
7,091.0
805.9
31.4
97.6
1,577.5
629.2
821.7
2,831.7
712.3
767.5
88.1
1,649.5
2,005.4
171.6
22.4
2,558.4
3,955.7
4,041.2
1,617.6
315.4
677.2
278.8
5,909.8
3,707.6
317.2
115.6
1,484.9
284.5
6,516.6
34,178.8
790.5
8,217.4
7,234.7
855.3
30.1
97.4
1,595.2
641.0
830.4
2,855.7
722.2
772.2
88.9
1,699.7
2,093.5
175.1
26.3
2,596.7
4,075.8
4,169.2
1,615.8
303.2
583.8
326.4
6,063.7
3,905.1
280.2
119.9
1,470.6
287.9
6,659.3
35,133.7
779.6
8,465.0
7,417.6
914.8
35.4
97.2
1,628.9
652.6
838.9
2,882.2
734.7
787.5
93.3
1,802.7
2,141.6
170.6
28.7
2,758.9
4,243.2
4,201.0
1,637.0
269.3
718.2
299.8
6,192.3
4,057.6
267.4
124.0
1,455.0
288.3
6,867.2
35,797.7
740.6
8,757.0
7,638.7
963.3
58.7
96.4
1,584.3
657.9
840.0
2,890.8
738.2
799.8
96.1
1,951.5
2,203.1
172.0
33.5
2,829.5
4,463.7
4,145.7
1,636.6
271.4
803.1
182.9
34,460.9'
37,604.5'
40,944.6'
44,814.9' 42,927.5'
43,802.4'
44,814.9'
45,711.5
46,605.1
47,856.7
48,857.2
62.3
2.2
26.0
867.1
193.0
1,436.9
4,003.3
1,226.8
2,016.4
1,559.1
4,654.2
858.8
1,013.2
9,722.4'
2,465.3
240.4
12,423.3'
62.2
2.2
26.7
957.0
212.2
1,521.7
4,284.9
1,505.1
1,879.8
1,647.2
5,436.3
1,038.2
1,060.4
10,632.6'
2,659.7
268.9
13,914.7'
45.9
2.2
27.5
1,024.7
201.3
1,525.2
4,599.3
1,789.5
2,006.9
1,998.0
6,048.9
1,038.4
1,082.6
11,368.9'
2,996.3
297.0
14,897.7'
46.0
2.2
28.1
1,123.5
190.0
1,506.5
4,946.3
2,050.8
2,312.1
2,494.0
7,068.3
1,249.9
1,163.7
12,301.6'
3,217.0'
316.9
16,089.5'
48.3
2.2
27.8
1,149.3
140.4
1,536.8
4,734.0
1,965.6
2,067.4
2,213.3
6,419.3
1,148.6
1,110.1
11,522.4'
3,127.6'
312.5'
15,132.2'
46.5
28.1
1,139.6
147.5
1,491.1
4,792.1
2,055.9
2,168.2
2,368.2
6,627.9
1,191.5
1,133.5
11,772.2'
3,159.7'
323.1'
15,320.4'
46.0
2.2
28.1
1,123.5
190.0
1,506.5
4,946.3
2,050.8
2,312.1
2,494.0
7,068.3
1,249.9
1,163.7
12,301.6'
3,217.0'
316.9
16,089.5'
46.6
2.2
28.2
1,194.7
50.5
1,501.4
5,076.1
2,118.9
2,389.7
2,678.4
7,328.7
1,289.0
1,172.7
12,408.3
3,282.2
335.4
16,250.8
46.1
2.2
28.5
1,293.5
65.6
1,498.5
5,111.9
2,146.5
2,489.7
2,727.8
7,805.2
1,379.5
1,191.1
12,867.6
3,369.8
336.9
16,513.6
48.7
2.2
28.8
1,339.9
112.6
1,499.6
5,165.1
2,282.0
2,801.6
2,789.4
7,989.3
1,374.5
1,199.6
12,980.1
3,441.4
348.2
16,886.6
50.0
2.2
28.7
1,350.3
147.1
1,535.9
5,232.6
2,370.4
3,053.2
2,588.1
7,829.0
1,526.4
1,201.5
12,764.9
3,500.6
341.0
16,815.4
52 Total liabilities
77,231.3'
84,714.1'
91,894.8' 100,921.3'
95,585.5'
97,570.0' 100,921.3' 102,865.1 105,479.3 108,146.5 109,194.7
Financial assets not included in liabilities (+)
53 Gold and special drawing rights
54 Corporate equities
55 Household equity in noncorporate business . .
23.7
15,618.5
5,393.3'
24.6
17,389.3
5,981.3'
19.3
18,512.0
6,641.6'
19.9
20,909.3
7,303.7'
19.7
18,944.2
7,003.8'
19.7
19,595.7
7,168.8'
19.9
20,909.3
7,303.7'
20.0
21,133.9
7,510.3
20.1
22,208.5
7,687.4
20.3
22,429.6
7,810.4
20.5
21,477.2
7,892.1
-9.5
705.3
12.7
392.7
69.2
-3,471.3'
-9.7
767.2
27.3
248.3
97.0
-3,536.2'
-9.1
807.9
25.2
382.4
96.7
-3,702.5'
-10.1
922.2'
23.2
474.1
53.0
-4,500.9'
-10.2
947.4'
27.8
318.6'
75.0'
-4,057.5'
-10.0
-10.1
956.7'
922.2'
41.4
23.2
374.4
474.1
58.8'
53.0
-4,341.2' -4,500.9'
-10.2
996.4
475.2
58.8
-4,890.6
-10.0
1,090.7
19.9
479.8
55.3
-5,060.1
-9.8
1,103.0
20.8
527.8
43.7
-5,261.9
-9.9
1,088.1
21.7
269.5
26.3
-5,561.9
-17.9
20.8
23.3'
11.2
20.0
32.7'
1.8
19.2
.9'
.1
11.4
100.8'
1.5
13.9
-50.3'
1.3
10.0
100.5
-.8
10.0
58.7
.8
6.4
76.2
2.8
10.3
156.4
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
56
57
58
59
60
61
Other liabilities
Official foreign exchange
Special drawing rights certificates .
Treasury currency
Foreign deposits
Net interbank liabilities
Checkable deposits and currency .
Small time and savings deposits . .
Large time deposits
Money market fund shares
Security repurchase agreements . .
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Trade payables
Taxes payable
Miscellaneous
.
.
.
.
Liabilities not identified as assets (—)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (—)
62 Federal government checkable deposits
63 Other checkable deposits
64 Trade credit
65 Totals Identified to sectors as assets .
2.7
10.4
-12.8'
.1
11.4
100.8'
100,541.3" 110,451.6' 119,445.1' 132,080.6' 124,286.8' 127,273.9' 132,080.6' 134,754.9 138,751.9 141,899.9 142,581.2
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables L.I
and L.5, available at www.federalreserve.gov/releases.
2. Excludes corporate equities and mutual fund shares.
40
Federal Reserve Bulletin Statistical Supplement • May 2008
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2007
2008
2007
2008
2007
2008
Series
Q2
Q3
Q4'
Ql'
Output (2002=100)
Q2
Q3
Q4
Q1
Capa city (percen t of 2002 output)
Q2
Q3
Q4
Ql'
Capacity utilization rate (percent)2
1 Total industry
111.1
112.1
112.2
112.1
137.2
137.9
138.5
139.1
81.0
81.3
81.0
80.6
2 Manufacturing
3
Manufacturing (NAICS)
112.8
113.9
113.9
115.1
113.7
115.0
113.4
114.7
141.9
143.5
142.7
144.3
143.4
145.1
144.1
145.8
79.5
79.4
79.8
79.8
79.3
79.3
78.7
78.7
4
5
Durable manufacturing
Primary metal
120.6
110.1
122.6
111.3
122.6
111.3
122.4
113.9
154.9
132.3
156.3
132.5
157.6
132.8
158.9
133.2
77.8
83.2
78.4
84.0
77.8
83.9
77.0
85.6
6
7
8
9
Fabricated metal products
Machinery
Computer and electronic products
Electrical equipment, appliances,
and components
Motor vehicles and parts
Aerospace and miscellaneous
transportation equipment
Nondurable manufacturing
Food, beverage, and tobacco products . . . .
Textile and product mills
111.7
116.6
178.4
112.9
117.2
186.8
113.3
115.5
195.7
113.3
115.0
200.9
138.3
148.0
234.1
138.8
148.8
242.7
139.3
149.6
251.4
139.7
150.3
259.7
80.8
78.8
76.2
81.3
78.8
77.0
81.3
77.3
77.4
81.1
76.5
77.3
105.4
98.4
105.7
98.9
105.1
95.5
105.7
91.9
124.7
133.6
125.3
132.7
126.0
132.0
126.7
131.7
84.5
73.7
84.3
74.6
83.4
72.4
83.4
69.8
120.8
106.6
110.1
82.7
124.2
107.0
111.2
79.1
126.2
106.7
110.2
77.3
126.5
106.4
110.1
75.2
156.4
131.2
135.0
114.2
156.6
131.5
135.4
113.3
157.0
131.8
135.8
112.4
157.6
132.0
136.2
111.5
77.3
81.2
81.5
72.4
79.3
81.4
82.1
69.9
80.4
81.0
81.1
68.9
80.3
80.6
80.9
67.5
95.9
108.1
114.1
103.2
93.5
95.5
108.4
114.6
104.4
93.1
95.6
108.5
114.6
104.8
91.9
94.9
110.5
114.0
102.7
91.0
116.0
122.3
143.9
122.8
115.9
115.9
122.2
144.5
123.3
116.1
115.7
122.1
145.2
123.9
116.2
115.6
122.1
145.8
124.5
116.3
82.7
88.4
79.3
84.0
80.7
82.5
88.7
79.3
84.6
80.2
82.6
88.9
78.9
84.6
79.2
82.1
90.5
78.2
82.4
78.3
20 Mining
21 Electric and gas utilities
100.7
107.6
101.3
108.0
102.7
108.6
103.4
109.5
113.4
125.2
113.9
125.7
114.2
126.3
114.5
127.1
88.8
85.9
89.0
85.9
90.2
85.9
90.3
86.3
MEMOS
22 Computers, communications equipment, and
sem iconductors
215.2
231.6
247.1
255.1
276.2
291.3
306.7
321.5
77.9
79.5
79.9
79.2
23 Total excluding computers, communications
equipment, and semiconductors
107.0
107.5
107.3
107.0
131.8
132.1
132.4
132.7
81.1
81.4
81.0
80.6
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
107.6
108.3
107.6
107.1
135.3
135.6
135.9
136.2
79.6
79.8
79.2
78.6
10
11
12
13
14
15
16
17
18
19
Paper
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Selected Measures
2.12
41
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION1—CONTINUED
Seasonally adjusted
1973
1975
Previous cycle2
High
Low
High
Latest cycle3
2007
2007
May
Dec'
2008
Series
Low
High
Low
Capacity ut lization rate (percent)
Jan.r
Feb.'
Mar.'
Apr.'
May'
4
1 Total industry
88.8
74.0
86.6
70.9
85.0
78.6
80.9
81.0
81.0
80.3
80.3
79.6
79.4
2 Manufacturing
3
Manufacturing (NAICS)
88.3
88.4
71.5
71.3
86.2
86.2
68.5
67.8
85.4
85.3
77.1
77.0
79.4
79.3
79.2
79.2
79.1
79.1
78.4
78.4
78.5
78.5
77.7
77.7
77.5
77.6
89.4
101.9
69.6
69.8
86.7
90.1
62.9
46.9
84.6
93.8
73.5
75.0
77.6
83.3
77.7
85.0
77.5
86.9
76.8
85.6
76.7
84.5
75.4
84.0
75.2
83.9
91.7
94.6
69.9
74.3
83.1
92.7
61.8
58.0
81.7
85.3
72.7
74.0
80.5
79.1
81.1
76.6
81.3
76.7
81.0
76.0
81.0
76.8
80.1
74.8
80.3
73.6
87.0
66.0
90.0
77.4
81.9
76.7
75.8
77.6
76.8
77.4
77.7
77.8
77.5
99.3
95.8
68.0
54.8
91.9
95.1
64.6
44.9
89.1
89.5
77.0
56.0
84.2
73.0
84.0
72.7
83.8
71.4
82.5
70.7
83.8
67.2
83.2
62.6
84.0
63.2
75.9
87.6
68.1
72.3
87.1
85.8
69.0
75.4
87.4
86.7
81.0
81.4
77.1
81.3
80.4
81.0
81.0
81.0
79.8
80.3
79.9
80.5
79.6
80.3
78.9
80.3
86.3
89.5
77.5
61.8
84.2
89.6
80.4
72.1
86.0
91.1
80.9
77.6
81.4
72.5
80.9
69.2
80.8
67.5
80.1
67.4
81.6
67.4
80.9
66.6
80.7
66.9
96.7
92.1
85.3
96.1
86.2
74.1
80.8
69.1
61.7
75.6
95.4
91.0
83.5
90.1
88.0
81.4
68.8
67.9
71.8
86.7
92.6
88.2
85.0
89.8
91.1
86.1
82.4
79.9
76.4
80.4
82.9
89.2
79.3
84.0
80.4
84.1
88.8
78.8
84.1
79.1
83.0
91.4
78.7
82.9
78.6
81.1
90.6
78.1
82.8
77.8
82.2
89.6
77.9
81.6
78.4
81.5
89.7
78.1
81.2
77.3
81.1
89.3
78.5
81.3
76.3
20 Mining
21 Electric and gas utilities
93.4
96.2
87.6
82.9
93.8
89.0
79.6
77.7
86.3
92.7
83.6
84.1
88.7
86.0
91.2
85.5
90.4
87.5
90.5
85.8
90.1
85.6
89.6
85.4
89.6
83.7
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.3
89.6
75.1
81.7
75.3
77.4
79.9
78.7
79.2
79.7
79.9
79.8
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.8
70.6
85.3
78.7
81.1
81.1
81.2
80.4
80.4
79.6
79.4
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.4
68.0
85.8
77.2
79.5
79.2
79.1
78.4
78.4
77.5
77.4
4
5
Durable manufacturing
Primary metal
6
7
8
14
Fabricated metal products . . . .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts
Aerospace and
miscellaneous
transportation equipment .
Nondurable manufacturing
Food, beverage, and tobacco
products
Textile and product mills
15
16
17
18
19
Paper
Petroleum and coal products . .
Chemical
Plastics and rubber products . .
Other manufacturing (non-NAICS) .
9
10
11
12
13
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G. 17(419) monthly statistical release. The data
are also available on the Board's website, www.federalreserve.gov/releases/gl7. The latest
historical revision of the industrial production index and the capacity utilization rates was
released on March 28, 2008. The recent annual revision will be described in an upcoming
issue of the Federal Reserve Bulletin.
2. Monthly highs, 1978-80; monthly lows, 1982.
3. Monthly highs, 1988-89; monthly lows, 1990-91.
4. Capacity utilization is calculated as the ratio of the Federal Reserve's seasonally
adjusted index of industrial production to the corresponding index of capacity.
42
Federal Reserve Bulletin Statistical Supplement • May 2008
2.13
INDUSTRIAL PRODUCTION
Indexes and Gross Value1
Monthly data seasonally adjusted
Group
2002
propor-
2007
avg.
May
July
Sept.
Oct.
Nov.
Dec
Apr.'
Mayp
Index (2002=100)
MAJOR MARKETS
Total IP . .
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Market groups
Final products and nonindustrial supplies . .
Consumer goods
Durable
Automotive products
Home electronics
Appliances, furniture, carpeting . . .
Miscellaneous goods
Nondurable
Non-energy
Foods and tobacco
Clothing
Chemical products
Paper products
Energy
111.0
111.4
112.0
112.0
112.3
111.8
112.3
112.4
112.5
111.8
111.9
111.1
58.5
30.8
8.9
4.7
0.4
1.4
2.4
21.9
18.1
9.7
0.9
5.0
2.0
3.9
111.5
107.5
103.2
100.9
155.8
96.0
104.0
108.8
109.1
109.9
78.0
117.6
96.2
108.4
111.2
07.3
03.6
01.0
52.1
98.3
04.2
08.4
08.8
09.8
78.8
116.6
96.3
07.7
111.6
107.6
105.0
103.7
153.2
97.3
104.9
108.3
109.1
110.4
78.4
116.1
97.0
106.5
112.2
108.2
105.8
105.1
153.1
96.5
105.6
108.9
109.9
111.2
78.3
117.4
97.1
106.5
112.0
107.9
104.6
103.0
152.7
96.5
105.3
108.9
109.1
110.0
77.3
117.4
96.7
108.6
112.5
108.4
103.5
101.1
156.4
95.5
105.0
109.9
110.1
111.8
77.0
117.4
96.9
109.5
111.6
107.3
102.4
100.0
158.8
94.1
103.8
108.8
109.4
110.0
76.3
118.8
95.8
107.6
111.8
107.4
102.9
101.1
167.6
92.9
103.2
108.8
108.8
109.5
76.2
118.0
95.2
109.0
111.9
107.4
102.7
101.6
170.1
91.7
102.3
108.8
109.2
109.6
78.0
118.5
95.9
108.1
112.2
108.0
101.2
99.6
168.3
89.2
101.9
110.1
109.2
109.4
77.2
118.7
96.5
112.6
111.4
107.2
100.2
98.9
169.3
87.2
100.9
109.4
108.8
108.6
76.6
119.3
95.9
111.3
111.5
107.0
98.1
94.6
166.4
87.4
101.3
109.7
109.7
110.5
75.1
118.3
97.4
109.9
110.4
105.8
94.3
87.5
167.8
87.1
100.4
109.3
109.2
109.5
74.2
119.2
96.1
109.8
110.2
105.6
94.8
88.8
169.3
86.8
100.0
108.9
109.2
109.5
73.5
119.4
95.2
108.4
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.2
1.8
3.1
5.3
1.8
128.4
124.2
155.6
115.7
117.1
27.2
22.6
52.7
115.4
115.7
128.3
124.5
154.7
115.8
117.4
129.6
125.3
156.2
117.2
118.1
129.4
124.4
157.7
116.4
117.9
130.5
124.1
159.2
117.9
118.4
129.9
122.6
160.7
116.7
118.3
130.2
123.2
162.7
116.2
120.2
131.2
123.9
164.8
116.7
119.9
131.5
122.8
165.5
117.4
120.8
131.3
121.8
167.8
116.4
119.3
132.2
121.9
169.6
117.2
119.0
130.0
118.4
170.6
114.2
119.2
130.0
117.9
170.8
114.2
118.5
21
22
Construction supplies
Business supplies
4.3
11.0
106.0
108.7
06.5
08.4
107.3
108.5
107.4
108.5
107.1
108.7
106.6
109.1
105.4
108.8
104.5
109.2
104.2
108.9
103.7
109.3
102.4
108.0
102.1
108.7
100.7
108.2
100.5
107.9
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
41.5
30.5
19.0
4.0
6.6
8.4
11.5
0.8
2.7
4.5
11.0
111.3
115.5
123.5
93.7
167.1
109.1
103.5
76.6
97.7
112.4
101.6
110.7
115.1
22.4
95.3
62.7
08.7
04.0
79.2
97.8
113.1
00.8
111.0
115.7
123.5
95.3
165.7
109.2
103.9
78.6
96.6
113.2
100.5
111.8
116.7
125.4
95.1
170.4
110.3
103.9
76.3
97.4
112.6
100.8
112.0
116.3
125.1
95.0
170.1
110.0
103.2
74.0
97.5
111.9
102.1
112.0
116.6
125.3
93.6
171.3
110.4
103.8
74.0
96.4
113.1
101.6
112.2
116.4
125.5
92.4
174.6
109.7
102.9
73.5
96.4
111.9
102.5
113.0
117.2
126.4
92.9
176.5
110.4
103.5
73.1
97.7
112.5
103.3
113.1
116.9
125.8
90.7
176.7
110.0
103.7
72.6
99.3
112.3
104.1
112.9
116.6
125.8
90.1
177.6
109.8
103.1
70.9
97.8
112.0
104.0
112.3
115.8
125.6
89.1
178.2
109.5
101.4
71.0
95.9
110.2
104.0
112.5
116.1
125.6
87.5
180.4
109.3
102.0
69.9
96.5
110.3
103.9
112.0
115.6
125.1
85.9
181.4
108.6
101.6
68.6
95.9
110.4
103.5
111.8
115.7
125.0
85.2
181.6
108.5
102.0
68.7
95.3
111.3
102.8
94.6
92.6
107.0
112.3
06.9
111.8
107.1
112.1
107.5
112.7
107.4
112.8
107.6
113.3
107.0
112.9
107.4
113.4
107.4
113.5
107.6
113.7
106.7
113.0
106.8
113.4
105.9
112.9
105.6
112.7
SPECIAL AGGREGATES
34 Total excluding computers, communication
equipment, and semiconductors
35 Total excluding motor vehicles and parts ..
Gross value (billions of 2000 dollars, annual rates)
36 Final products and nonindustrial
supplies
37 Final products
38
Consumer goods
39
Equipment total
40 Nonindustrial supplies . . .
3,024.5
43.4
31.1
12.3
3,038.2 3,054.5 3,049.2 3,055.6 3,032.8 3,041.3 3,043.1 3,062.1 3,036.0 3,029.5 2,992.1 2,984.1
2,272.6
: ,330.7 2,324.1
: ,321.0 2,337.5
2,313.0
2,310.9
1,606.3 1,602.1 1,608.2 1,619.2 1,615.5 1,618.1 1,603.7 1,606.9 1,605.5 1,621.0 1,607.7 1,596.6 1,574.5 1,569.1
718.1
715.4
708.5
715.4
718.6
728.0
727.6
725.3
716.7
717.9
729.9
721.7
723.7
722.4
2,301.3
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2007
2008
2007
avg.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec'
Jan.r
Feb.'
Mar.'
Apr.'
Mayp
Index (2002=100)
INDUSTRY GROUPS
41 Manufacturing
42
Manufacturing (NAICS)
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
Durable manufacturing
Wood products
Nonmetallic mineral
products
Primary metal
Fabricated metal products .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts . .
Aerospace and
miscellaneous
transportation
equipment
Furniture and related
products
Miscellaneous
Nondurable manufacturing . .
Food, beverage, and
tobacco products . . . .
Textile and product mills . .
Apparel and leather
Paper
Printing and support
Petroleum and coal
products
Chemical
Plastics and rubber
products
Other manufacturing
(non-NAICS)
65 Mining
66 Utilities
67
Electric
68
Natural gas
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors
70 Manufacturing excluding motor
vehicles and parts
83.2
78.5
112.9
114.2
112.6
113.8
113.2
114.4
114.1
115.3
113.6
114.8
114.0
115.2
113.5
114.8
113.8
115.1
113.8
115.1
113.8
115.2
113.0
114.4
113.3
114.6
112.3
113.6
112.3
113.7
321
43.2
1.5
121.0
99.2
120.2
101.2
121.5
102.2
122.9
100.9
122.4
100.3
122.4
97.9
122.2
96.5
122.9
94.2
122.8
94.3
122.8
92.3
122.1
91.5
122.1
91.0
120.4
90.0
120.5
88.1
327
331
332
333
2.3
2.3
5.7
5.3
108.1
110.3
112.0
116.0
107.7
110.2
111.3
117.0
108.9
109.6
112.2
116.3
109.9
113.2
112.6
117.4
110.0
111.4
112.8
116.2
110.2
109.2
113.2
118.0
108.9
110.0
113.1
116.4
109.7
111.0
113.7
115.4
105.9
112.9
113.1
114.6
106.0
115.2
113.4
115.1
104.2
114.0
113.2
114.2
106.1
112.6
113.2
115.6
104.0
112.1
112.1
112.8
103.6
112.1
112.4
111.1
334
8.1
183.4
177.4
181.3
185.6
186.5
188.3
192.8
196.2
198.1
198.0
201.0
203.8
206.1
207.1
335
3361-3
2.2
7.4
104.9
97.2
104.9
97.5
105.5
99.5
105.9
100.8
105.4
99.3
105.7
96.6
104.3
95.1
105.0
95.8
106.1
95.5
106.1
94.0
104.6
93.1
106.4
88.5
105.8
82.4
107.1
83.2
3364-9
3.5
122.3
120.5
122.7
123.4
123.8
125.3
125.3
126.9
126.4
127.5
125.8
126.1
125.7
124.8
337
339
1.8
3.3
102.0
115.9
101.9
116.0
102.5
116.6
103.3
116.9
103.4
116.4
102.4
117.4
101.7
116.5
101.4
116.0
100.1
117.2
98.1
117.8
96.4
115.1
95.9
117.2
94.6
116.6
94.2
117.8
35.3
106.6
106.6
106.6
107.1
106.6
107.3
106.7
106.6
106.8
106.8
106.0
106.4
106.1
106.1
311,2
313,4
315,6
322
323
11.3
1.4
1.0
3.1
2.4
110.1
80.5
78.5
95.8
99.8
109.9
82.8
79.1
96.1
99.5
110.6
82.5
78.7
95.3
98.7
111.4
80.6
78.5
95.9
98.4
110.3
78.7
77.6
95.7
99.1
112.0
78.1
77.6
95.0
99.6
110.5
77.7
77.0
94.1
98.9
110.0
77.1
76.8
95.4
99.4
110.1
77.2
78.7
97.3
99.0
109.9
75.3
77.8
96.0
98.4
109.1
75.2
77.2
93.7
97.2
111.2
75.0
75.8
95.0
98.6
110.4
73.9
75.0
94.1
97.9
110.2
74.0
74.3
93.6
97.9
324
325
1.8
10.7
108.7
114.2
109.1
114.1
108.2
114.0
108.3
114.5
108.5
114.2
108.4
115.0
108.7
114.5
108.1
114.7
108.5
114.6
111.7
114.5
110.6
113.9
109.3
113.7
109.4
114.1
109.0
114.8
326
3.8
103.4
103.1
103.8
104.5
103.8
105.0
104.6
105.4
104.5
103.0
103.1
101.8
101.4
101.7
1133,5111
4.7
92.9
93.2
93.5
93.2
92.8
93.2
92.2
91.7
91.9
91.3
90.5
91.2
89.9
88.8
21
2211,2
2211
2212
7.2
9.6
8.2
1.4
101.4
108.2
110.4
98.2
100.6
107.7
110.1
96.2
100.9
106.5
109.0
95.1
101.5
105.6
107.8
95.5
101.2
109.3
111 .1
101.0
101.3
109.0
111.5
97.4
101.3
108.4
112.3
90.9
102.9
109.1
111.1
99.4
103.9
108.2
109.7
101.2
103.3
110.6
112.4
101.8
103.6
109.0
109.0
108.0
103.2
109.0
110.7
100.9
102.7
109.0
111.1
99.1
102.8
107.0
108.1
101.1
77.8
107.6
107.5
107.9
108.5
108.0
108.3
107.5
107.7
107.6
107.6
106.7
106.8
105.7
105.6
75.7
114.3
113.9
114.4
115.2
114.8
115.4
115.0
115.3
115.4
115.5
114.7
115.3
114.8
114.7
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G. 17(419) monthly statistical release. The data
are also available on the Board's website, www.federalreserve.gov/releases/gl7. The latest
historical revision of the industrial production index and the capacity utilization rates was
released on March 28, 2008. The recent annual revision will be described in an upcoming
issue of the Federal Reserve Bulletin.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • May 2008
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
11 Change in U.S. government assets other than official
reserve assets, net (increase, —)
-754,848
-714,371
1,283,070
-1,997,441
48,058
54,459
152,512
-98,053
-6,400
-88,535
-811,477
-758,522
1,445,703
-2,204,225
36,640
43,172
174,214
-131,042
-6,532
-89,595
-738,638
-708,515
1,628,358
-2,336,873
74,316
81,065
223,602
-142,537
-6,749
-104,438
-187,938
-176,926
377,623
-554,549
9,661
11,328
47,074
-35,746
-1,668
-20,673
-198,201
-178,620
380,995
-559,615
7,428
9,017
47,721
-38,704
-1,589
-27,009
-190,058
-179,472
395,362
-574,834
12,583
14,269
50,309
-36,040
-1,686
-23,169
Q3
Q4
-177,444
-172,570
419,701
-592,271
21,337
23,037
56,082
-33,045
-1,700
-26,211
-172,936
-177,853
432,298
-610,152
32,970
34,742
69,490
-34,748
-1,773
-28,052
5,539
5,346
962
445
-369
623
-23,630
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
14,096
0
4,511
10,200
-615
2,374
0
-223
3,331
-734
-122
0
-154
1,021
1,415
0
-51
1,678
-212
-72
0
-43
212
-241
26
0
-39
294
-229
-54
0
-37
230
-247
-22
0
-35
285
-272
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
-446,510
-217,471
-39,603
-197,098
7,662
-1,062,896
-454,585
-83,531
-289,422
-235,358
-1,183,278
-589,831
15,819
-273,851
-335,415
-291,405
-123,899
15,818
-117,230
-66,094
-450,306
-233,384
-47,830
-87,206
-81,886
-465,565
-210,964
-93,976
-82,203
-78,422
-174,596
-102,522
86,817
-100,220
-58,671
-92,812
-42,961
70,808
-4,222
-116,437
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
259,268
112,841
100,493
-421
26,260
20,095
440,264
189,181
191,553
3,133
22,040
34,357
412,698
49,900
181,952
5,673
108,456
66,717
85,347
47,049
47,749
1,129
-15,666
5,086
152,193
37,705
73,067
654
29,797
10,970
70,464
-13,125
56,400
-77
15,981
11,285
38,857
-11,768
29,354
995
9,805
10,471
151,184
37,088
23,131
4,101
52,873
33,991
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
944,963
202,508
31,804
132,300
18,969
450,386
108,996
1,419,333
434,393
235,769
-35,931
12,571
591,951
180,580
1,450,999
510,884
166,579
166,301
10,937
391,884
204,414
430,682
172,283
49,612
22,090
8,382
132,745
45,570
465,531
203,603
93,624
44,638
-1,631
112,269
13,028
552,387
143,963
110,172
1,813
3,347
242,963
50,129
237,698
68,397
56,094
50,252
4,741
-43,128
101,342
195,383
94,921
-93,311
69,598
4,480
79,780
39,915
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
-4,054
-18,454
-3,913
-17,794
-2,317
83,590
-18,455
-17,793
-637
-36,643
6,267
-42,910
-559
16,170
11,796
4,373
-598
34,719
784
33,935
-609
66,972
-17,759
84,731
-552
-56,615
5,180
-61,795
26
-54
-22
70,541
37,862
147,083
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, —)
40 Foreign official assets in United States, excluding line 25
(increase, +)
14,096
2,374
-122
1,415
-72
259,689
437,131
407,025
84,218
151,539
41 Change in Organization of Petroleum Exporting Countries officit
assets in United States (part of line 22)
1. Seasonal factors are not calculated for lines 11-16, 18-20, 22-35, and 38-41.
2. Associated primarily with military sales contracts and other transactions arranged with
or through foreign official agencies.
3. Consists of investments in U.S. corporate stocks and in debt securities of private
corporations and state and local governments.
4. Reporting banks included all types of depository institutions as well as some brokers
and dealers.
3.12
5. Consists of capital transfers (such as those of accompanying migrants entering or
leaving the country and debt forgiveness) and the acquisition and disposal of nonproduced
nonfinancial assets.
SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current
Business.
U.S. RESERVE ASSETS
Millions of dollars, end of period
2007
Asset
1 Total
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
2005
2006
2008
2007
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.-
65,127
65,895
70,565
69,070
69,626
70,966
70,565
72,017
73,404
75,764
74,372
11,043
8,210
11,041
8,870
11,041
9,476
11,041
9,301
11,041
9,392
11,041
9,536
11,041
9,476
11,041
9,566
11,041
9,688
11,041
9,892
11,041
9,767
8,036
37,838
5,040
40,943
4,244
45,804
4,463
44,266
4,394
44,800
4,416
45,973
4,244
45,804
4,237
47,173
4,280
48,395
4,302
50,529
4,253
49,311
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. Excludes outstanding reciprocal currency
swaps with the European Central Bank and the Swiss National Bank. Swaps outstanding were
$15 billion and $6 billion, respectively, at the end of March.
Summary Statistics
3.13
45
FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS'
Millions of dollars, end of period
2007
2005
Asset
2006
Sept.
Oct.
Nov.
83
98
96
112
601
1 069 014
8.967
1 133 969
8.967
1 191 706
8.710
1 179 525
8.737
1 195 592
8.724
1 Deposits
2008
2007
Dec.
97
Jan.
Feb.
Apr.p
Mar.
96
114
96
1 191 706
8.710
1 235 576
8.697
1 244 808
8.643
98
105
Held in custody
3 Earmarked gold3
NOTE: The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at www.federalreserve.gov/releases.
1. Excludes deposits and U.S. Treasury securities held for international and regional
organizations.
3.15
1 191 855
8.724
1 275 124 1310 649
8.595
8.548
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
1 Total1
2
3
4
5
6
1
8
9
10
11
12
By type
Liabilities reported by banks in the United States2
U.S. Treasury bills and certificates3
U.S. Treasury bonds and notes
Marketable
Nonmarketable4
U.S. securities other than U.S. Treasury securitiesf
By area
Europe1
Canada
Latin America and Caribbean
Asia
Africa
Other countries
2,585,038
3,239,273
2,490,430
284,827
176,829
397,958
196,344
308,842
184,847
308,842
184,847
1,271,174
1,026
851,182
1,443,691
1,111
1,200,169
1,211,819
986
783,937
435,062
7,078
175,746
1,915,375
12,422
39,354
602,738
11,370
267,443
2,292,741
25,262
39,719
414,986
7,859
159,444
1,851,832
15,955
40,354
1. For data before June 2006, includes the Bank for International Settlements.
2. Principally demand deposits, time deposits, bankers acceptances, commercial paper,
negotiable time certificates of deposit, and borrowings under repurchase agreements.
3. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
4. Excludes notes issued to foreign official nonreserve agencies. Includes current value of
zero-coupon Treasury bond issues to foreign governments as follows: Mexico, beginning
March 1990, 30-year maturity issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
5. Debt securities of U.S. government corporations and federally sponsored agencies, and
U.S. corporate stocks and bonds.
3.16
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
3,239,273
3,318,744
3,312,278
3,326,247
284,827
176,829
397,958
196,344
413,882
207,123
403,472
204,319
372,416
201,279
1,211,819
986
783,937
1,271,174
1,026
851,182
1,443,691
1,111
1,200,169
1,479,792
1,118
1,216,828
1,476,198
1,125'
1,227,163
1,504,209
1,133
1,247,209
414,986
7,859
159,444
1,851,832
15,955
40,354
435,062
7,078
175,746
1,915,375
12,422
39,354
602,738
11,370
267,443
',292,741
25,262
39,719
621,691
11,258
274,140
',345,090
26,590
39,975
608,552
11,815
283,570
2,339,280
26,831
42,230
617,299
11,274
276,004
2,352,672
26,810
42,187
6. Data in the two columns shown for this date reflect different benchmark bases for
foreigners' holdings of selected U.S. long-term securities. Figures in the first column are
comparable to those for earlier dates; figures in the second column are based in part on a
benchmark survey as of end-June 2006 and are comparable to those shown for the following
dates.
SOURCE: Based on U.S. Department of the Treasury data and on data reported to the
Treasury by banks (including Federal Reserve Banks) and securities dealers in the United
States, and in periodic benchmark surveys of foreign portfolio investment in the United
States.
Reported by Banks in the United States1
Millions of dollars, end of period
Sept.'
1 Banks' own liabilities
2
Deposits
3
Other liabilities
4 Banks' own claims
5
Deposits
6
Other claims
7 Claims of banks' domestic customers2
8
Deposits
9
Other claims
98,349
52,410
45,939
91,693
59,241
32,452
140,873
97,088
43,785
144,247
96,872
47,375
169,863
103,800
66,063
181,917
104,822
77,095
260,790
120,710
140,080
129,544
51,029
78,515
100,144
43,942
56,202
131,530
59,152
72,378
130,372
63,057
67,315
143,525
65,606
77,919
148,539
67,718
80,821
168,572
73,199
95,373
32,056
8,519
23,537
56,100
20,931
35,169
64,558
34,901
29,657
77,258
51,484
25,774
81,285
55,342
25,943
80,195
50,748
29,447
74,693'
50,263
24,430'
1. Data on claims exclude foreign currencies held by U.S. monetary authorities.
2. Assets owned by customers of the reporting bank located in the United States that
represent claims on foreigners held by reporting banks for the accounts of the domestic
customers.
46
Federal Reserve Bulletin Statistical Supplement • May 2008
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Sept.
Oct.
Nov.
Dec
BY HOLDER AND TVPE OF LIABILITY
1 Total, all foreigners
2 Banks' own liabilities
By type of liability
3
Deposits2
4
Other
5
Of which: repurchase agreements3
6
Banks' custody liabilities4
By type of liability
7
U.S. Treasury bills and certificates5
8
Other negotiable and readily transferable
instruments6
9
Of which: negotiable time
certificates of deposit held in custody
for foreigners
10
Of which: short-term agency securities7 . . .
11
Other
12 International and regional organizations5
13
Banks' own liabilities
14
Deposits2
15
Other
16
Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments'"
19 Official institutions'
20
Banks' own liabilities
21
Deposits2
22
Other
23
24
25
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments'"
3,080,907
3,851,558
4,471,030' 4,280,618
4,414,225
4,463,625 4,471,030" 4,576,096" 4,639,670
4,576,813
2,299,950
2,924,438
3,317,821
3,238,742
3,342,068
3,354,279
3,317,821
3,346,546' 3,410,860
3,334,479
1,043,801
1,256,149
713,327
780,957
1,315,290
1,609,148
1,028,974
927,120
1,535,884
1,781,937
1,099,640
1,153,209'
1,466,592
1,772,150
1,129,192
1,041,876
1,518,134
1,823,934
1,180,996
1,072,157
1,522,485
1,831,794
1,195,995
1,109,346
1,535,884
1,781,937
1,099,640
1,153,209'
1,505,725'
1,840,821'
1,168,935
1,229,550'
1,554,833
1,779,646
1,092,118
1,242,334
1,513,987
1,896,873
1,217,478
1,228,810
353,719
53,594
136,783
201,516
66,155
113,865
304,502
97,746'
200,152
349,134'
92,621
163,193
319,958
101,066
182,759
297,392
99,123
198,162
307,910
20,793
15,612
8,361
7,251
5,181
1,085
29,425
25,770
19,021
6,749
3,655
27,164
22,929
17,784
5,145
4,235
250
29,217
25,776
20,535
5,241
3,441
310
30,397
25,971
20,833
5,138
4,426
838
30,048
26,301
20,740
5,561
3,747
738
97,746'
200,152
349,134'
113,924'
211,045
366,193'
118,839
202,426
358,001
124,783
186,188
364,062
27,164
22,929
17,784
5,145
4,235
250
30,460
24,781
18,663
6,118
5,679
951
29,188
22,055
16,918
5,137
7,133
1,124
28,372
20,944
16,386
4,558
7,428
1,796
4,096
2,855
3,985
3,131
3,588
3,009
3,985
4,728
6,009
5,632
498,510
170,984
45,426
125,558
461,656
178,954
51,380
127,574
594,302
215,946
48,614
167,332
520,572
198,622
53,745
144,877
541,676
197,578
49,356
148,222
576,657
210,430
48,100
162,330
594,302
215,946
48,614
167,332
621,005
224,966
46,573
178,393
607,791
220,147
46,894
173,253
573,695
196,337
47,186
149,151
327,526
201,863
282,702
176,829
378,356
196,344
321,950
178,263
344,098
180,419
366,227
185,256
378,356
196,344
396,039
207,123
387,644
204,319
377,358
201,279
182,012
188,916
2,511,915
2,172,413
1,173,137
999,276
339,502
39,454
2,547,314'
2,176,565
1,170,207
1,006,358
370,749'
38,381
2,538,639'
2,140,741'
1,131,910'
1,008,831
397,898'
39,097'
2,550,697
2,150,542
1,146,321
1,004,221
400,155
47,980
2,533,001
2,139,426
1,162,941
976,485
393,575
52,603
75,693'
283,108'
80,109
272,066
71,348
269,624
1,385,992' 1,451,994
956,058' 1,018,116
303,854
308,579'
714,262
647,479'
1,441,745
977,772
328,320
649,452
125,663
105,873
163,679
1,792,040
1,566,967
841,248
725,719
225,073
23,771
2,258,115
1,917,300
1,025,334
891,966
340,815
31,153
2,547,314' 2,462,253 2,526,885
2,176,565 2,120,958 2,197,426
1,170,207 1,124,533 1,177,339
1,006,358
996,425 1,020,087
341,295
329,459
370,749'
30,584
36,236
38,381
48,776
152,526
66,378
243,284
64,243'
268,125'
68,934
241,777
75,555
217,668
72,584
227,464
64,243'
268,125'
34 Other foreigners''
35
Banks' own liabilities
36
Deposits2
37
Other
769,564
546,387
148,766
397,621
1,102,362
802,414
219,555
582,859
1,302,250
902,381
299,279
603,102
,268,576
893,386
267,779
625,607
1,315,267
921,093
270,606
650,487
1,345,005
945,135
280,508
664,627
,302,250
902,381
299,279
603,102
38
39
40
223,177
33,124
299,948
42,104
399,869
64,711
375,190
50,764
394,174
51,444
399,870
59,135
399,869
64,711
429,934'
64,088'
433,878
72,455
463,973
98,041
142,188
47,865
196,728
61,116
255,150
80,008
247,389
77,037
263,151
79,579
260,302
80,433
255,150
80,008
283,991'
81,855
279,810
81,613
280,126
85,806
1,552,323
1,938,224
2,180,524
2,239,533
2,248,552
2,262,108'
4,471,030" 4,280,618
26 Banks10
27
Banks' own liabilities
28
Deposits2
29
Other
30
Banks' custody liabilities4
31
U.S. Treasury bills and certificates5
32
Other negotiable and readily
transferable instruments'"
33
Other
41
Banks' custodial liabilities
U.S. Treasury bills and certificates5 .
Other negotiable and readily
transferable instruments'"
Other
176,079
MEMO
42 Own foreign offices12
2,323,560
BY AREA OR COUNTRY
43 Total, all foreigners
44 Foreign countries
45 Europe
46
Austria
47
Belgium
48
Denmark
49
Finland
50
France
51
Germany
52
Greece
53
Ireland
54
Italy
55 Luxembourg
56
Netherlands
57
Norway
58 Portugal
59
Russia
60
Spain
61
Sweden
62
Switzerland
63 Turkey
64
United Kingdom
65
Channel Islands and Isle of Man
66
Yugoslavia13
67
Other Europe and other former U.S.S.R.1
Footnotes appear on next page.
4,414,225
4,463,625
4,576,096" 4,639,670
3,060,114
3,822,133
4,443,866" 4,251,401 4,383,828
4,433,577
4,443,866' 4,545,636" 4,610,482
4,548,441
1,229,338
3,604
16,022
1,537
3,612
71,486
58,960
1,200
68,660
7,075
61,065
14,502
27,921
2,716
101,335
9,535
4,771
140,140
9,895
563,253
29,559
119
32,371
1,482,788
3,841
14,528
931
3,204
69,078
69,894
1,488
84,085
7,350
73,099
25,309
42,383
2,250
62,711
8,941
3,715
54,622
10,369
888,945
33,360
295
22,389
1,749,498 1,687,018
6,064
4,987
15,188
18,245
768
611
1,263
67,385
64,758
97 579
90,644
1,345
1,665
99,864
113,469
8,072
6,550
106,918
102,023
24,850
24,454
48,022
56,616
2,993
2,617
104,709
70,249
11,433
9,566
7,677
4,625
44,874
51,911
12,098
13,276
1,005,684 1,018,366
25,368
25,279
532
530
36,906
25,597
1,804,393
5,121
20,071
2,143
1,273
70,293
97,104
1,415
110,385
9,108
112,223
32,065
58,042
2,373
94,308
9,775
6,115
50,788
12,013
1,047,534
26,224
481
35,540
1,749,498
4,987
18,245
768
1,263
64,758
97,579
1,345
113,469
8,072
106,918
24,850
48,022
2,993
104,709
11,433
7,677
51,911
12,098
1,005,684
25,279
532
36,906
1,782,756
4,532
20,257
1,011
1,811
77,716
94,272
1,127
154,724
6,817
124,159
35,713
31,095
3,991
83,545
12,416
6,534
45,231
15,908
992,464
20,552
846
48,036
3,080,907
1,802,362
4,723
18,659
1,000
1,184
80,552
95,231
1,516
112,774
8,207
109,056
30,504
56,465
2,618
88,741
9,153
5,645
47,933
12,684
1,046,244
40,251
463
28,759
1,789,777
4,708
17,705
771
1,635
84,962
103,634
1,325
128,767
7,661
102,111
37,439
47,444
2,573
104,708
11,408
5,095
49,669
14,544
1,009,953
22,880
487
30,296
1,853,870
3,998
21,503
657
1,652
78,384
105,035
1,309
147,164
8,564
119,842
37,086
41,214
3,245
94,611
10,093
6,096
45,845
16,816
1,053,555
21,955
939
34,306
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
Sept.
MEMO
68 European Union15
n.a.
1,267,657
1,495,565
1,466,146
1,545,739
1,552,146
1,495,565
1,538,887
69 Canada
33.552
44,613
59,386
64,122
67,082
56,943
59,386
67,470
70,959'
71,875
133,637
9.674
11,900
8.961
6,477
3,393
1,643
42,532
5,262
3,051
4,939
27,261
8,544
156,731
10,506
16,067
16,839
11,657
3,409
1,420
45,349
7,125
4,267
6,116
22,759
11,217
172,535
11,920
24,407
15,531
10,962
3,271
1,812
52,126
6,960
5,168
6,361
23,000
11,017
176,433
11,138
28,542
14,760
9,827
2,972
1,619
55,084
7,092
5,682
7,010
21,353
11,354
175,193
10,793
28,504
15,208
10,682
3,255
1,587
53,054
6,710
4,417
7,401
22,840
10,742
174,774
10,616
30,465
15,713
10,698
3,133
1,750
50,873
6,572
5,490
6,055
22,840
10,569
172,535
11,920
24,407
15,531
10,962
3,271
1,812
52,126
6,960
5,168
6,361
23,000
11,017
169,272
11,459
22,205
15,601
11,336
3,151
1,799
50,251
7,395
5,922
6,156
22,999
10,998
175,861'
11,237
27,339
14,758
11,079
3,538
1,895
52,024'
6,719'
5,721
6,009
24,525'
11,017
166,428
12,331
17,336
14,290
9,843
3,668
1,855
51,360
7,656
5,706
6,658
23,962
11,763
1,214,058
211,459
52,132
n.a.
907.840
120
916
6,396
2,830
32,365
1,669,856
256,173
55,129
21,493
1,297,459
82
1,891,284' 1,806,567
238,894
284,475
46,731
48,498
28,264
33,518
1,470,778' 1,451,394
84
80
846
1,322
10,082
5,112
3,300
3,640
39,231
31,602
1,800,447
247,069
45,580
31,769
1,430,322
84
975
5,670
3,423
35,555
1,858,262
279,399
48,018
33,013
1,449,173
80
981
5,711
3,146
38,741
408,192
422,744
526,963'
474,404
497,596
497,334
526,963'
525,118
522,416'
514,467
46,439
33,972
13,702
4,212
9,802
156,245
27,094
3,776
23,252
9,961
49,463
30,274
44,410
43,111
4,386
7,318
127,606
27,786
3,852
22,917
8,318
69,492
44,740
94,363
44,474
18,212
5,212
7,750
146,328
34,797'
4,833
26,027
14,150
80,132
50,685
81,452
39,926
17,969
4,189
8,718
146,356
19,147
4,526
21,753
10,166
71,848
48,354
97,495
47,097
19,973
5,888
9,778
76,168
47,689
86,423
42,778
18,615
3,429
9,259
141,372
26,217
4,662
22,151
13,951
79,730
48,747
94,363
44,474
18,212
5,212
7,750
146,328
34,797'
4,833
26,027
14,150
80,132
50,685
109,579
34,594
17,773
4,013
9,915
135,244
33,354
3,720
23,761
17,874
85,457
49,834
95,936
44,901
17,548'
3,824
9,239
133,098'
32,317
3,565
29,582'
13,618
88,773
50,015'
86,927
43,620
15,440
3,812
8,833
136,873
31,772
3 723
28,427
11,647
92,260
51,133
106 Africa .
107
Egypt
108
Morocco
South Africa
109
Oil-exporting countri
110
Other
111
20,095
4,953
138
3,049
6,858
5,097
14,781
2,252
198
1,396
4,438
6,497
25,816
3,682
180
1,629
6,117
14,208
17,701
3,299
137
1,850
4,444
7,971
18,948
3,817
185
1,628
5,353
7,965
22,397
3,586
152
2,486
4,038
12,135
25,816
3,682
180
1,629
6,117
14,208
30,175
4,387
161
3,112
4,946
17,569
31,193
4,482
272
2,802
4,598
19,039
32,962
5,632
223
3,578
3,311
20,218
112 Other countries .
113
Australia
114
New Zealand
115 All other
21,242
17,769
3,007
466
30,620
25,277
4,505
838
18,384
14,130
3,110
1,144
25,156
21,907
2,400
849
22,200
18,530
2,768
902
19,474
14,304
3,802
1,368
18,384
14,130
3,110
1,144
25,921
21,858
3,017
1,046
31,139
26,220
3,774
1,145
25,404
20,776
3,423
1,205
116 International and regional organizations . . .
117
International15
118 Regional"
20,793
15,684
5,109
29,425
25,202
4,223
27,164
23,107
4,057
29,217
25,476
3,741
30,397
26,004
4,393
30,048
26,206
3,842
27,164
23,107
4,057
30,460
25,017
5,443
29,188'
24,692'
4,496
28,372
24,007
4,365
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 America
83 Caribbean
Bahamas
84
85
Bermuda
86
British Virgin Islands .
87
Cayman Islands
88
Cuba
89
Jamaica
90
Netherlands Antilles . .
91
Trinidad and Tobago .
92
Other Caribbean
93 Asia
China
94
Mainland
95
Hong Kong
96
India
97
Indonesia
98
Israel
99 Japan
100
Korea (South)
101
Philippines
102
Taiwan
103 Thailand
104
Middle Eastern oil-exporting countries"'
105
Other
8/156
3,346
26,695
1. Reporting banks include all types of depository institutions as well as some banks/
financial holding companies and brokers and dealers. Excludes bonds and notes of maturities
longer than one year. Effective February 2003, coverage is expanded to include liabilities of
brokers and dealers to affiliated foreign offices.
2. Non-negotiable deposits and brokerage balances.
3. Data available beginning January 2001.
4. Financial claims on residents of the United States, other than long-term securities, held
by or through reporting banks for foreign customers. Effective February 2003, also includes
loans to U.S. residents in managed foreign offices of U.S. reporting institutions.
5. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
6. Principally bankers acceptances, commercial paper, negotiable time certificates of
deposit, and short-term agency securities.
7. Data available beginning January 2001.
8. Principally the International Bank for Reconstruction and Development, the InterAmerican Development Bank, and the Asian Development Bank. Excludes "holdings of
dollars" of the International Monetary Fund. Beginning with data for June 2006, also
includes the Bank for International Settlements.
9. Foreign central banks and foreign central governments. Before June 2006, also includes
the Bank for International Settlements.
10. Excludes central banks, which are included in "Official institutions." Includes positions with affiliated banking offices also included in memo line (44) above.
11. As of February 2003, includes positions with affiliated non-banking offices also
included in memo line (44) above.
12. For U.S. banks, includes amounts owed to own foreign branches and foreign subsidiaries consolidated in the quarterly Consolidated Reports of Condition filed with bank regulatory
9,529
140,092
18,975
4,522
20,390
1,621,795' 1,573,792
1,891,284' 1,937,903' 1,925,044' 1,954,549
273,233
289,107
273,772
284,475
47,002
47,315
48,498
47,429
34,851
33,678
33,518
38,189
1,470,778' 1,534,918' 1,522,346' 1,530,168
86
87
87
80
1,217
1,046
1,210
1,322
9,485
10,082
7,722
7,942
3,130
3,300
2,777
2,430
35,908
39,231
36,097
36,264'
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.
13. 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.''
14. For data prior to June 2006, also includes the Bank for International Settlements and
the European Central Bank.
15. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain, Sweden, and the United Kingdom. Data available beginning in June 2006. As of
January 2007, also includes Bulgaria and Romania.
16. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
17. Comprises Algeria, Gabon, Libya, and Nigeria.
18. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund. Beginning with data for June 2006,
also includes the Bank for International Settlements.
19. African, Asian, Caribbean, European, Latin American, and Middle Eastern regional
organizations.
48
Federal Reserve Bulletin Statistical Supplement • May 2008
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
Sept.
1 Total, all foreigners
2,291,340
2 Foreign countries . .
2,282,166
2,783,064
2,681,608
2,826,636
2,815,703
2,783,064
2,892,875
2,955,571
2,994,654
1,188,919
4,277
13,592
1,620,351
4,055
1,561,293
1,670,570
4,205
1,676,330
1,620,351
4,055
1,643,006'
1,743,401
20,566
2,828
28,445
17,101
1,567
31,589
31,117
1,611
5,026
23,236
153,868
29,416
222
37,008
35,075
8,882
1,684,618'
4,852
25,865
3,680
24,806
185,759
41,788
Europe ..
Austria
918,660
4,139
11,900
Denmark
Finland
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
Norway
Portugal
Russia
Spain
Sweden
Switzerland
Turkey
United Kingdom
Channel Islands and Isle of Man
Other Europe and other former U.S.S.R.2
864
9,247
88,873
30,027
97
16,426
18,482
8,201
1,156
9,434
112,406
18,189
250
24,304
30,991
162,416
34,111
110
45,960
35,870
7,144
20,958
14,688
832
29,578
1,264
1,745
8,372
9,452
143,892
3,270
487,492
32,566
7,618
9,834
8,907
105,368
13,260
52,122
22,517
1,364
1,800
31,032
924
3,741
732,430
36,893
6,724
20,448
7,279
191,987
3,426
932,805
24,677
4,674
21,906
142,526
37,029
208
34,085
32,732
10,725
58,033
23,756
1,458
1,900
17,355
7,174
178,371
21,279
144,062
35,354
267
41,611
37,707
10,002
54,828
22,657
1,279
1,998
17,256
14,306
3,276
926,984
32,294
8,139
9,504
199,804
3,238
976,319
46,436
9,564
4,884
52,471
27,476
1,630
1,758
23,774
7,723
239,311
3,330
3,005,458
2,902,327
2,825,252
2,690,481
20,566
2,828
28,445
162,416
34,111
110
45,960
35,870
13,260
52,122
22,517
1,364
1,800
5,358
28,890
1,180
21,592
185,493
33,620
291
50,610
37,080
13,671
56,073
25,201
1,895
1,863
16,078
8,078
187,967
371
54,659
35,557
13,918
56,169
19,760
1,809
37,286
6,832
948,791
26,626
14,706
14,306
16,040
22,979
8,200
187,966
3,394
957,501'
16,388
16,564
102,333
3,416
14,028
55,574
20,610
1,823
1,770
20,448
7,279
191,987
3,426
932,805
24,677
928,379'
20,230
4,625
22,646
2,196
24,830
189,078
45,537
178
64,302
43,923
1,611
174,732
3,548
995,555
13,387
21,965
MEMO
25 European Union3
27 Latin America
28 Argentina
29 Brazil
30 Chile
Colombia
31
32 Ecuador
33 Guatemala
34 Mexico
35 Panama
36 Peru
37 Uruguay
38 Venezuela
39 Other Latin America4
1,008,255
64,104
71,325
85,140
87,613
87,531
94,785
85,140
105,504
51,170
59,195
2,763
19,894
6,689
2,900
604
83,042
3 978
30,340
8,849
3,567
962
81,788
3 849
4,629
889
81,525
4,087
29,973
7,490
3,764
913
87,674
3,966
35,708
8,329
3,493
960
83,042
3 978
30,340
8,849
3,567
962
87,235
3,626
32,785
8,916
3,427
879
1,031
16,569
2,316
1,446
355
2,281
2,347
1,314
1,195
1,244
1,314
1,319
1,337
21,783
3,859
2,995
338
2,335
2,722
21,254
3,203
2,128
989
2,670
2,532
22,523
3,355
2,633
330
2,597
2,616
1,310
22,106
3,511
2,671
316
2,569
2,735
21,783
3,859
2,995
338
2,335
2,722
24,002
3,984
3,186
366
2,057
2,688
24,105
4,328
3,433
294
1,845
2,737
786,154
154,785
13,446
749,703
139,628
770,890
829,898'
138,039'
837,597'
164,068'
14,741
194,281
17,358
3,943
3,497
579,918
588
4,482
658
12,104
3,203
4,280'
639,559
685
4,687
759
8,818
3,246
616,048
722
4,586
723
8,439
2,290
15,111
6,642
2,438
582
872
14,601
2,076
1,226
464
2,273
2,595
31,330
7,120
40 Caribbean
41
Bahamas
42
Bermuda
43
British Virgin Islands4
44
Cayman Islands
45
Jamaica
46
Netherlands Antilles ..
47
Trinidad and Tobago .
48
Other Caribbean4
620,474
113,458
17,846
n.a.
475,227
444
4,444
907
8,148
724,316
770,890
759,517
120,904
145,303
10,603
130,200
49 Asia . .
China
50
Mainland
51
Hong Kong
52
India
53 Indonesia
54 Israel
55 Japan
56 Korea (South)
57 Philippines
58 Taiwan
59 Thailand
60 Middle Eastern oil-exporting countri
61
Other
63
64
65
66
67
Egypt
Morocco
South Africa
Oil-exporting countries'" .
Other
68 Other countries . . .
69
Australia
70
New Zealand . .
71
Allother
72 International and regional organizations7
17,777
2,807
572,273
669
2,484
3,328
598,150
657
1,055
6,347
190,610
14,807
8,412
2,518
440
4,288
106,377
17,254
1,790
8,626
7,796
12,330
5,972
17,659
3,794
10,667
145,303
10,603
3,328
598,150
657
176,239
185,323
188,636
192,964
179,064
16,952
7,907
4,784
763
6,812
95,012
18,489
8,820
4,385
985
3,724
83,250
27,383
1,207
1,232
5,945
23,197
6,706
17,656
6,859
4,585
1,023
4,360
88,727
21,167
7,457
4,826
1,056
3,675
31,148
1,135
1,727
8,208
18,157
5,051
30,904
1,108
1,280
1,455
16,585
6,761
14,991
8,892
4,380
1,007
3,591
90,736
27,288
1,689
2,522
2,455
13,948
7,565
8,164
12,268
350
25
456
14,324
352
24
766
395
1,070
10,367
1,053
12,129
1,213
13,695
26,328
24,824
30,511
25,157
1,158
29,274
823
346
414
22,835
1,836
486
9,452
10,655
10,804
165,877
18,489
8,820
4,385
985
3,724
83,250
27,383
1,207
1,232
5,945
23,197
6,706
17,399
6,242
4,269
549
5,150
92,100
12,787
1,188
3,396
2,333
14,532
5,932
1,674
304
26
249
312
783
2,237
343
18
5,016
353
506
231
353
1,049
4,060
493
442
6,890
23,846
22,680
25,956
30,154
24,611
28,716
1,011
334
1,122
316
9,549
10,305
633
5,553
104,283
12,740
1,207
2,982
1,671
16,002
5,628
1,621
422
63
331
317
488
1,853
597
56
255
403
542
8,164
10,945
30,154
10,226
541
178
14,700
13,195
1,263
242
1,122
316
810
356
24,256
23,055
839
362
7,250
9,174
10,305
8,873
7,562
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. For data prior to June 2006, also includes the Bank for International Settlements and the
European Central Bank.
3. As of May 2004, the European Union includes Austria, Belgium, Cyprus, the Czech
Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy,
Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Slovenia,
Spain, Sweden, and the United Kingdom. Data available beginning in June 2006. As of
493
442
6,890
28,716
845,403
13,196
5,324
5,144
185,323
15,448
312
27
926'
174,363
221,858
5,729
10,579
5,574
3,311
673
8,062
673
8,062
620
4,642
576
4,426
3,166
8,372
84,094
3,970
26,746
9,108
3,428
872
1,328
25,319
4,514
3,631
286
1,930
2,962
10,265
603,716
638
4,620
489
4,406
6,888
2,827
519
5,319
140,329
24,484
996
38,510
101,847
661,393
677
4,430
764
9,288
597,711
4,114
93,224'
4,026
321
14,468
1,073
1,436
4,328
16,993
5,711
19
4,114
312
27
96,690
15,688
370
15
January 2007, also includes Bulgaria and Romania.
4. Before June 2006, data for the British Virgin Islands were included in "Other
Caribbean.''
5. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International
Settlements.
Bank-Reported Data
3.19
49
Reported by Banks in the United States1
BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Payable in U.S. dollars
Millions of dollars, end of period
2007
Type of claim
2008
2005
2006
2007'
1 Total claims reported by banks
2,344,155
2,944,476
3,569,123
3,464,262'
2 Banks' own claims on foreigners
3
Foreign official institutions2
4
Foreign banks3
5
Other foreigners4
1.864.834
72,919
1.391.775
400,140
2,291,340
98,010
1,662,805
530,525
2,793,369
108,136
2,060,830
624,403
2,690,481
86,503
1,963,989
639,989
479,321
227,685
91,196
140,863
19 577
653,136
277,734
168,304
185,134
21 964
775,754
394,459
179,599
178,203
23 493
773,781'
340,697'
204,888'
195,403'
32 793'
748,320
2,414
923,958
6,272
971,828
5,830
923,245
5,953
994,971
6,346
920,048
5,604
971,828
5,830
1,010,165
6,963
1,034,833
3,374
1,116,470
2,100
7,324
1,106,776
1,304,277
9,236
1,351,874
1,639,474
17,146
1,798,565
2,068,786
12,703
1,748,580
1,963,765
17,713
1,815,168
2,064,668
17,132
1,882,468
2,047,930
17,146
1,798,565
2,068,786
19,990
1,865,209
2,107,641'
17,125
1,910,894
2,134,756
17,729
1,869,159
2,238,793
482,090
664,373
800,427
843,785
862,637
862,960
800,427
897,698
915,518
851,626
Sept.
6 Claims on banks' domestic customers5
7
Non-negotiable deposits
8
Negotiable CDs
9
Other short-term negotiable instruments'" . .
Oct.
Nov.
Dec'
Jan.
Feb.
3,569,123
2,834,198
85,027
2,091,540
657,631
2,825,252
108,338
2,076,287
640,627
2,793,369
108,136
2,060,830
624,403
Mar.'
3,747,803
2,902,327
125,777'
2,124,494'
652,056
2,966,226
116,032
2,174,870'
675,324'
775,754
394,459
179,599
178,203
23 493
3,005,458
101,405
2,235,433
668,620
742,345
370,883
195,264
153,727
22 471
MEMO
11 Non-negotiable deposits7
12 Negotiable CDs7
13 Other short-term negotiable
instruments7
14 Other claims7
15 Own foreign offices5
16 Loans collateralized by repurchase
agreements9
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
3.22
Federal Reserve Bulletin Statistical Supplement • May 2008
LIABILITIES TO UNAFFILIATED FOREIGNERS
Reported by Nonbanking Business Enterprises in the United States
Millions of dollars, end of period
Type of liability, and area or country
Sept.
1 Total
73,700
92,009
By type
2 Financial liabilities
3
Short-term negotiable securities'
43.610
14,002
62,847
11,759
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
14
15
16
17
18
19
20
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
Sept.
85,780
39,249
9,050
32,995
11,486
30,199
21,509
n.a.
n.a.
42,556
12,448
48,712
11,617
47,089
7,692
106,508
112,853
52,649
6,783
55,051
4,663
37,095
39,397
8,561
4,781
9,482
12,838
10,120
18,573
10,915
21,013
12,219
24,908
13,536
15,048
15,515
28,095
1,431
10,372
11,425
2,493
2,374
29,575
33,272
2,399
9,067
18,337
1,564
1,905
24,003
15,246
2,354
4,052
3,169
2,018
3,653
19,395
13,600
1,064
3,031
2,963
1,212
5,330
29,323
13,233
2,268
3,687
2,722
1,173
3,383
35,033
13,679
2,806
4,629
4,024
1,393
827
27,136
19,953
1,115
10,675
5,311
1,365
1,487
31,589
21,060
1,328
11,414
4,044
2,397
1,877
29,103
25,948
834
13,006
4,007
3,319
4,782
34,832
709
3,543
3,531
284
517
23,886
38,690
775
1,349
2,911
363
514
29,473
22,697
342
761
2,533
406
124
12,712
19,644
271
1,572
3,777
453
369
12,652
25,554
273
1,103
9,897
449
143
12,374
30,184
936
995
11,174
1,183
346
14,308
889
4,450
598
34,443
863
621
6,264
204
313
24,956
35,076
460
1,466
6,164
242
289
23,664
1,239
2,530
2,287
3,573
3,986
1,826
2,361
3,232
4,235
0
711
242
8,715
208
n.a.
7,178
26
18
7,603
0
991
70
n.a.
6,446
25
1
7,879
1
5
53
n.a.
7,732
27
0
9,648
0
0
48
n.a.
9,456
12,435
0
0
23
n.a.
12,265
30
0
12,589
0
49
24
n.a.
12,178
25
1
12,645
0
0
15
n.a.
12,388
35
14
14,196
7
1
23
n.a.
13,994
27
16
2,547
1,826
36
4,724
1,648
36
5,323
1,383
173
2,355
1,265
647
2,968
1,223
1,200
1,924
1,346
100
2,225
1,568
59
3,106
1,392
2,445
1,676
56
123
92
131
94
997
97
31
0
30
0
MEMO:
21
Euro area3
22
Canada
23
24
25
26
27
28
29
30
31
32
33
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
34
35
Africa
Oil-exporting countries'"
36
All other7
9,855
3,114
34
Nonbank-Reported Data
3.22
LIABILITIES TO UNAFFILIATED FOREIGNERS
51
Reported by Nonbanking Business Enterprises in the United States—Continued
Millions of dollars, end of period
Type of liability, and area or country
Sept.
37 Commercial liabilities
38 Trade payables
39
Advance payments and other liabilities .
40
41
42
43
44
45
46
47
48
49
50
51
52
53
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial liabilities
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
Sept.
30,090
17,174
12,916
29,162
18,181
10,981
37,461
23,050
14,411
45,200
30,119
15,081
43,224
28,564
14,660
40,505
25,673
14,832
42,640
27,165
15,475
53,859
28,237
25,622
57,802
29,322
28,480
27,632
2,458
199
787
606
209
657
25,811
3,351
224
1,058
704
296
1,069
34,725
2,736
171
989
471
308
797
41,995
3,205
699
1,100
393
304
709
40,171
3,053
668
601
423
387
974
37,298
3,207
730
610
470
377
1,020
39,114
3,526
745
640
551
410
1,180
50,440
3,419
707
617
541
381
1,173
54,969
2,833
666
482
300
354
1,031
9,821
159
900
855
384
1,367
3,025
9,030
123
1,019
1,024
305
564
3,407
10,574
109
1,870
1,113
489
1,113
2,882
11,528
138
1,888
1,242
423
856
3,372
11,611
156
1,525
1,198
618
1,348
10,962
222
1,567
1,217
526
724
3,046
11,760
123
1,608
1,279
498
1,527
3,262
14,876
209
1,559
2,201
755
1,370
4,313
15,069
220
1,667
2,161
929
1,291
3,928
2,166
2,145
2,375
4,112
3,519
3,708
4,127
4,737
4,271
3,406
14
513
233
40
1,298
329
4,276
32
515
113
n.a.
101
1,942
433
5,748
70
713
218
n.a.
76
2,209
680
7,399
64
851
216
n.a.
629
2,795
461
6,563
85
720
204
n.a.
569
2,518
465
5,757
70
777
241
n.a.
539
2,120
353
6,272
109
744
141
n.a.
485
2,321
570
7,817
163
1,008
360
n.a.
647
2,512
663
8,546
122
1,160
425
n.a.
728
2,936
586
13,311
4,370
3,148
12,239
4,221
2,910
17,427
5,971
3,986
20,403
6,182
5,344
20,042
6,031
4,978
18,755
5,864
3,855
18,753
5,703
4,656
24,049
5,688
5,803
26,832
5,476
7,324
782
372
947
424
916
493
1,294
755
969
591
849
283
952
599
1,267
637
1,453
763
MEMO
54
Euro area3
55
Canada
56
57
58
59
60
61
62
63
64
65
66
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
67
68
Africa
Oil-exporting countries'"
69
All other7
4,198
1. Data available beginning March 2003. For data on borrowings and repurchase agreements, data available on a consistently defined basis beginning in June 2006.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece. Although
Slovenia joined the euro area January 2007, separate data for Slovenia are not available.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
1,631
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emir
ates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
52
3.23
Federal Reserve Bulletin Statistical Supplement • May 2008
CLAIMS ON UNAFFILIATED FOREIGNERS
Reported by Nonbanking Business Enterprises in the United States
Millions of dollars, end of period
Type of claim, and area or country
Sept.
1 Total
By type
2 Financial claims
3
Non-negotiable deposits
4
Negotiable securities
Of which:
5
Negotiable CDs'
6
Other claims
Of which:
7
Loans'
8
Repurchase agreements'
9
10
11
12
13
14
15
16
17
18
19
20
21
22
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
Sept.
124,815
100,916
137,231
67,347
35,465
3,204
110,517
47,270
9,892
111,394
50,149
13,180
81,661
41,964
544
88,855
34,378
2,152
88,646
31,909
2,744
93,073
28,337
579
93,794
27,228
2,223
100,784
36,820
1,344
157
28,678
103
53,355
65
48,065
18
39,153
12
52,325
15
53,993
6
64,157
20
64,343
14
62,620
14,453
2,726
14,443
15,196
10,057
17,842
12,174
22,603
14,268
18,789
14,678
17,506
n.a.
n.a.
57,894
9,453
912
2,776
3,242
831
1,692
67,445
43,072
1,329
20,651
9,219
7,345
4,528
75,802
35,592
9,348
9,308
7,635
3,537
5,764
59,240
22,421
8,473
4,635
4,476
610
4,227
63,946
24,909
10,416
6,337
4,361
656
3,139
66,871
21,775
8,454
5,843
4,014
746
2,718
64,047
29,026
4,336
16,280
4,936
777
2,697
66,625
27,169
3,729
15,339
3,850
868
3,383
65,146
35,638
4,387
15,498
3,611
9,113
3,029
28,970
391
3,049
2,859
2,789
617
11,438
48,714
2,177
1,452
5,386
7,389
978
23,982
42,736
1,743
2,752
2,729
3,033
1,152
22,111
23,738
565
2,861
2,428
1,649
864
9,550
34,038
618
2,563
9,084
2,610
795
12,004
34,070
328
1,310
8,506
2,842
706
13,713
44,607
445
2,119
8,447
4,437
722
21,847
47,629
2,985
3,557
9,058
5,138
806
18,377
44,651
2,270
2,850
7,543
3,690
820
20,467
MEMO:
23
Euro area3
24
Canada
25
26
27
28
29
30
31
32
33
34
35
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
36
37
Africa
Oil-exporting countries'"
38
All other7
15,067
5,311
6,412
13,372
12,959
15,110
14,118
10,177
11,312
11,208
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
45,063
1,590
1,590
1,950
n.a.
36,355
2,019
159
38,198
3,802
1,602
1,703
n.a.
28,980
1,176
136
32,776
4,463
1,631
1,419
n.a.
23,146
1,236
117
34,890
3,901
1,231
1,982
n.a.
25,728
1,175
102
32,293
5,762
1,296
1,655
n.a.
20,885
1,098
116
28,036
2,086
1,269
1,580
n.a.
20,747
1,166
158
30,826
2,466
1,397
1,463
n.a.
23,035
1,217
150
5,317
1,194
158
6,840
993
137
7,223
568
242
4,105
665
705
4,248
779
1,209
3,238
882
60
3,841
1,563
4,745
1,465
1,111
11,738
1,395
111
306
8
1,291
37
1,112
36
1,067
34
345
34
1,096
1,616
368
32
1,706
Nonbank-Reported Data
3.23
CLAIMS ON UNAFFILIATED FOREIGNERS
53
Reported by Nonbanking Business Enterprises in the United States—Continued
Millions of dollars, end of period
Type of claim, and area or country
Sept.
39 Commercial claims
40
Trade receivables
41
Advance payments and other claims .
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling . .
Japanese yen
All other currencies
42
43
44
45
46
47
48
49
50
51
52
53
54
55
By area or country
Commercial claims
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
Sept.
33,569
28,618
4,951
32,715
29,229
3,486
33,556
29,231
4,325
36,914
32,577
4,337
35,960
31,337
4,623
37,386
32,802
4,584
38,152
33,260
4,892
43,437
36,001
7,436
43,693
36,520
7,173
25,494
8,075
1,557
1,542
1,187
589
3,200
27,439
5,276
512
1,561
1,586
238
1,379
29,898
3,658
481
1,335
706
187
949
33,539
3,375
424
1,344
659
150
798
32,372
3,588
546
1,345
584
233
33,160
4,226
740
1,108
661
281
1,436
34,289
3,863
608
1,360
734
221
940
39,644
3,793
658
1,233
707
257
938
40,136
3,557
637
1,124
663
285
848
14,552
247
2,816
1,273
395
1,921
3,928
13,457
257
2,261
1,401
494
1,528
3,742
12,084
470
2,311
1,509
354
724
2,677
14,003
420
2,368
1,675
478
659
4,130
14,019
475
2,059
1,639
527
1,043
3,802
14,105
443
2,110
1,642
728
718
3,789
14,845
481
2,114
1,765
578
830
4,260
16,762
488
1,956
1,780
665
1,087
5,118
16,501
368
1,972
1,713
745
948
5,734
MEMO
Euro area3
7,340
8,457
8,961
57
Canada
3,070
2,017
2,750
3,179
2,483
3,402
2,850
4,109
3,595
58
59
60
61
62
63
64
65
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
5,153
26
460
903
52
1,339
230
6,477
55
650
935
n.a.
160
2,018
319
6,757
41
648
1,022
n.a.
61
2,089
7,854
39
1,166
973
n.a.
488
1,896
371
7,355
31
464
1,046
n.a.
563
2,016
349
7,146
48
503
945
n.a.
323
2,067
379
7,779
29
662
914
n.a.
401
1,980
426
1,267
922
n.a.
585
1,952
451
8,747
27
1,528
946
n.a.
452
2,196
474
66
67
68
Asia
Japan
Middle Eastern oil-exporting countriesf
7,352
1,757
888
8,943
1,855
1,071
10,073
2,128
1,558
10,146
2,158
1,843
10,321
2,207
1,727
11,011
2,467
1,754
10,849
2,504
1,600
12,507
3,156
1,686
13,027
2,948
2,114
69
70
Africa
Oil-exporting countries'"
636
138
629
154
830
258
961
315
1,037
359
892
298
962
266
321
1,007
261
71
All other7
8,222
1,192
1. Data available beginning March 2003. For data on loans and repurchase agreements,
data available on a consistently defined basis beginning in June 2006.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece. Although
Slovenia joined the euro area January 2007, separate data for Slovenia are not available.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
988
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emir
ates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes international and regional organizations.
54
Federal Reserve Bulletin Statistical Supplement • May 2008
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.Mar.
Sept.
U.S. corporate securities
STOCKS
1 Foreign purchases
2 Foreign sales
3 Net purchases, or sales (-)
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Foreign countries
Of which: by foreign official institutions
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters1
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
2
26 International and regional organizations .. .
6,868,571
6,718,156
10,639,330
10,443,806
4,392,707
4,379,500
799,640
797,033
999,347
969,083
1,101,407
1,096,657
944,625
911,164
1,268,101'
1,250,923
150,415
195,524
13,207
2,607
30,264
4,750
33,461
150,371
5,766
195,562
15,107
13,192
18,964
2,608
84
30,263
354
4,749
482
33,458
12,502
97,066
1,625
21,735
-8,040
-1,788
11,608
-5,363
1,180
75,764
102
11,818
2,166
35,068
7 974
-4,490
471
-463
-669
89
680
89,259
-1,168
19,521
600
28
-7,143
6,887
-2,977
69,473
877
8,086
780
48,590
12,240
31,734
3,993
35,434
-4,973
-300
5,173
-3,557
-457
-1,887
-7,154
388
-3,258
4,765
3,620
-6,008
-357
3,202
1,799
-25,580
7,122
33,504
-167
11,799
6,132
-4,297
999
-7,522
130
5,840
-2,721
-100
-1,148
-2,372
-532
-5,320
-22
1,858
-276
7,620
-96
902
-57
1,248
14,290
-14
6,475
2,556
-425
-972
-1,079
41
6,785
35
2,378
-380
6,186
1 739
5,138
230
4,720
25
-31
943
3,054
-756
895
2,857
70
-1,660
121
-785
848
-380
2,460
374
-7,818
901
5,301
1,133
4,233
125
111
366
13,558
328
-1,158
-191
153
-1,666
-1,129
695
16,342
154
-19
105
4,395
7,100
9,241
73
4,673
126
-210
-712
44
-38
15
1,572,160
1,285,696
2,050,451
1,824,365
1,130,483
1,040,264
182,090
170,608
-43
165
1,016,491'
1,015,376'
1,143,493
1,132,719
17,178'
1,115'
10,774
17,170'
13,343'
1,106'
4,772'
10,776
413
6,925
-479
6,342
1,740
-524
-2,046
1,146
816
-1,568
-190
-1,495
1,345
-7,520
6,234
13,926'
-245
3,191
2,369
-1,948
-297
-8,632'
235
-4,967
-1,638
115
73
-1,487
1,399
-3,846'
-11
1,344
670
-4,258
-334
12,906'
-33
4,354
1,927
-931
341
2,517
-267
4,342
-1,711
360
-1,049
1,534
1,069
-2,878
-121
1,980
-321
914
1,127
3,825
297
2,288
708
299
435
-2
U.S. GOVERNMENT AGENCY BONDS
27 Foreign purchases
28 Foreign sales
226,086
179,040
164,162
174,264
147,627
227,714
231,030
258,302'
238,985'
279,924
243,028
332,885
314,150
18,735
19,317'
14,878
26,637
286,228
92,632
225,707
119,057
90,496
27,130
11,448
9,194
14,943
10,048
26,303
6,007
-3,311
4,080
19,641'
-630
36,888
1,203
18,711
15,545
86,320
-274
-261
4,471
4,133
5,028
-655
-186
51,072
1,528
9,507
13,971
39,741
7,037
128,750
37,401
31,659
44,761
-198
1,100
82,025
-1,808
4,293
290
1,115
-8,520
-585
-1,906
60,306
4,823
3,232
6,376
-7,929
8,353
132,586
73,733
30,722
14,061
38
1,026
75,423
-1,034
7,491
-892
3,291
-5,048
-1,535
-675
70,310
-1,216
5,598
4,699
-50,755
-3,560
57,465
21,520
13 473
20,386
-318
1,944
5,948
-30
1,208
-44
287
-280
167
55
4,339
38
411
-497
-5,860
101
11,410
8,026
2,684
-220
-30
-35
10,224
-916
439
-242
371
-2,448
-49
-311
6,732
466
402
399
-344
184
3,560
3,048
1,611
2,713
-8
526
7,669
-68
933
-566
918
-2,907
-48
-159
6,093
-33
-1,225
-1,189
15,543
-595
5,921
6,627
2,567
1,063
26
153
1,816
-138
-18
47
-225
290
-713
-293
279
-48
508
-1,006
-9,098
-497
4,884
2,550
2,071
2,654
-21
103
13,364
-63
527'
-1,228'
672
1,997
-209
-123
11,720'
-279
-635
-183'
5,234'
184
1,761'
-2,011
2,625'
4,453
-38
-46'
20,505
-57
889
131
1,283
-687
-500
-175
19,444
-115
2,339
-1,069
-2,632
64
16,584
4,249
1,107
8,226
-23
1,120
30,600
-862
5,940
-90
1,714
-2,774
-461
-223
24,978
-810
2,684
2,291
-33,461
-1,708
18,329
7,391
4,409
5,102
-406
382
236
379
-277
34
-65
334
-5
1,678,464
1,167,658
1,912,361
1,530,509'
568,573
525,419
134,280
118,362
166,392
143,702
121,310
106,513
140,595
103,296'
125,095'
121,703'
138,083'
118,834'
140,455
145,035
55 Net purchases, or sales (-) .
510,806
381,852'
43,154
15,918
22,690
14,797
37,299'
3,392'
19,249'
-4,580
56 Foreign countries
57
Of which: by foreign official institutions
509,783
28,556
380,605'
50,566
43,178
19,907
15,998
4,631
22,657
7,437
14,828
4,898
37,291'
8,218
3,505'
3,946
19,276'
4,360
-4,580
4,088
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
316,130
-2,097
22,144
-11,831
13,937
3,365
3,197
9,739
253,762
10,388
8,052
10,029
91,309
4,666
72,282
31,158
14,810
12,646
-188
7,503
197,117'
-7,413
4,261
5,419
8,658
-14,650
-652
3,580
207,331'
-6,717
12,274
5,097
41,694
3,803
115,195
41,675
12,780
38,573
-169
5,594'
-1,929
-3,623
-1,602
748
-1,244
1,394
-958
385
385
-3,933
1377
2,029
7,277
1,207
32,476
15,174
2,517
10,335
-18
259
-4,464
-641
543
100
-324
-1,927
23
-450
7,200
-9,034
813
240
1,680
286
17,373
2,697
1,309
10,579
18
52
-1,180
19
-56
716
-689
-1,034
161
645
7,860
-1,208
504
1,048
4,438
873
17,376
1,957
587
9,222
4
-406
564
-590
-250
-337
641
-557
-234
831
873
-151
-473
187
3,901
774
9,833
3,706
1,502
3,082
-26
68
11,234'
-408
-10
965
75
-1,827
-230
497
12,292'
-724
810
-191
9,718
-30
15,589
7,739
1,491
5,390
71
90'
-1,952'
-2,064
21
454
-1,265'
-1,345
-334
-404
4,380'
-1,141
576'
481
-4,490
-25
8,699'
2,945
899'
3,240'
-21
237
1,963'
-749
-677
-126
-453
-134
-327
519
4,644'
-808
609
786
8,785
447
6,699
2,517
-134
3,388
-25
12
-8,792
-802
-579
174
-406
1,654
-259
-36
-7,530
-1,250
112
736
-4,324
234
7,303
2,765
1,005
2,600
9
142
1,023
1,247
-24
-80
33
-31
29 Net purchases, or sales (-)
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
Foreign countries
Of which: by foreign official institutions . .
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters'
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
52 International and regional organizations2 .
-324
24
CORPORATE BONDS3
53 Foreign purchases
54 Foreign sales
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man
Canada
Latin America
Caribbean
Middle East Oil Exporters1
Other Asia
China, Mainland
Hong Kong
Japan
Africa
Other countries
78 International and regional organizations3 .. .
-113
-27
0
Securities Holdings and Transactions
3.24
55
FOREIGN TRANSACTIONS IN SECURITIES—Continued
Millions of dollars
Transaction, and area or country
Jan.Mar.
Sept.
Foreign securities
79 Stocks, net purchases or sales (-)
4
-106.455
3,636,185
3,742,640
-95,325
5,215,768
5,311,093
-24,445
1,959,800
1,984,245
-21,298
359,679
380,977
5,025
546,421
541,396
-9,101
10,979
83 Foreign purchases
1,879,713
2,024,165
2,972,380
3,100,241
948,999
945,807
200,176
220,548
264,614
273,715
84 Foreign sales
-250,907
-223,186
-21,253
-41,670
85 Net purchases, or sales (-) of stocks and bonds4
-256,016
-220,413
-54,927
-157,698
-18,153
-12,714
25,656
-18,652
2,159
-2,252
-9,488
-239,115
-218,331
-62,547
-154,543
-10,203
-7,948
-18,442
27,064
4,030
1,112
-12,367
-26,993
-37,063
-14,735
-24,124
-3,072
14,927
-9,104
24,371
1,821
98
-17,150
-41,725
-43,701
-4,158
-39,774
-1,073
-1,344
7,634
-3,633
1,270
169
223
80 Foreign purchases
81 Foreign sales
82 Bonds, net purchases or sales (-) 4
86
87
88
89
90
91
92
93
94
95
96
97
Foreign countries
Europe
Euro Area5
United Kingdom
Canada
Latin America
Caribbean
Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations2
-144,452
-2,337
523,685
526,022
-18,272
442,624
460,896
-3,008
487,855
490,863
209,714
198,735
169,182
181,549
246,800
264,143
240,377
235,054
267,714
263,649
-4,076
20,596
-12,396
-19,680
-12,949
1,057
-7,132
-13,988
-9,536
-3,787
-1,954
-810
10,759
283
1,263
5
-1,427
20,714
3,988
8,866
-6,183
416
932
-2,477
17,836
4,614
988
-969
-12,683
381
442
-951
-3,598
-1,278
-11,730
3,179
4,613
680
-317
-19,806
-17,514
-2,132
-11,375
-4,542
2,319
-4,946
11,459
945
1,532
-8,114
-13,864
-17,579
-3,147
-14,080
1,274
5,767
4,304
-2,999
-340
624
-5,255
-1,688
3,579
-5,529
7,335
2,814
3,942
-12,882
5,463
2,404
-1,841
-2,763
4,065
3,056
1. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
2. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
3.25
-29
430,974
431,003
5,109
9,617
521,977
512,360
MARKETABLE U.S. TREASURY BONDS AND NOTES
2,745
3. Includes state and local securities. Also includes issues of new debt securities sold
abroad by U.S. corporations organized to finance direct investment abroad.
4. Net foreign sales (-) of foreign securities are equivalent to net U.S. purchases of foreign
securities.
5. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
Foreign Transactions1
Millions of dollars; net purchases, or sales (—), during period
Area or country
Jan.Mar.
Sept.
1 Total reported
195,536
201,180
190,974
27,704
44,740
24,825
1,910
36,467'
20,603
53,628
2 Foreign countries
3
Of which: by foreign official institutions .
194,714
69,639
202,228
2,994
190,739
82,816
27,561
14,370
44,386
3,980
25,016
378
1,635
10,980
36,514'
36,101
20,494
-3,594
53,469
28,011
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Europe
Belgium
France
Germany
Ireland
Luxembourg
Netherlands
Norway
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man
Other Europe and former U.S.S.R. . . .
Canada
98,982
357
-1,600
2,116
-1,325
-1,293
684
5,063
702
-2,898
91,782
-296
5,690
14,161
180,257
-3,100
-4,665
-3,330
1,734
-28
1,471
-27,339
2,176
-2,560
207,374
-974
9,498
-3,196
114,261
-664
-9,133
3,288
-2,578
68
-151
20,577
-541
-1,460
90,926
649
13,280
6,268
35,470
244
-3,725
-605
326
186
-1,520
16,365
-855
-340
23,971
-175
1,597
-1,260
33,636
76
858
248
537
68
-345
2,391
-385
645
26,565
-334
3,311
-1,381
18,235
-948
933
-2,517
662
-292
-848
1,896
-441
-168
21,005
-334
-713
7,196
-16,859
-547
390
190
-361
95
1,330
-2,284
-284
543
-15,775
-36
-120
-5,209
8,515'
-133
-5,282
988'
-1,794
279
170'
8,427
-309
-562
167'
584
5,980
5,273
20,890
-11
-284
-532
-26
-157
-1,558
816
229
-937
23,240
143
-32
-2,418
30,585
-464
-1,450
293
-430
-489
559
10,564
-435
-947
18,995
45
4,344
-1,831
18
19
20
21
22
Latin America
Brazil
Mexico
Venezuela
All other Latin America
21,838
23,100
-322
242
-1,182
86,160
77,066
1,735
-196
7,555
21,821
18,941
923
-281
2,238
2,841
2,713
81
-19
66
5,557
3,065
2,184
-74
382
13,967
8,065
4,169
-179
1,912
10,287
8,540
1,241
-46
552
11,375
10,332
939
-77
181
5,298
4,636
155
-156
663
5,750
3,376
1,904
-72
542
23
Caribbean
-9,838
2,380
1,443
7,549
-283
9,597
-9,510
-6,605
-7,694
24
25
26
27
28
29
30
Asia
China, Mainland
Hong Kong
Japan
Korea
Middle East Oil Exporters2
All other Asia
68,694
40,633
16,257
1,312
6,168
4,548
-224
-68,122
-7,968
1,934
-47,384
-17,874
1,805
1,365
64,195
33,022
9,495
17,624
1,675
2,235
144
-9,627
-2,394
-598
-4,641
-2,219
-626
851
359
-4,795
-1,347
9,579
-2,551
221
-748
-15,637
-5,210
546
-11,507
380
-345
499
3,179
6,862
-654
-5,681
975
-1,558
3,235
20,021'
9,563
2,478'
6,362
2,648
-1,708'
678
2,840
3,997
1,314
-601
-2
1,492
-3,360
26,323
6,613
2,998
15,654
-581
983
656
3,515
2,400
6,127
4,568
2,987
458
-120
0
-44
-4
1,054
4
916
500
1,116
54
642
-4
-2,638
-1,378
-469
-1,186
-1,290
484
-276
-276
-153
822
-1,048
235
143
354
-191
275
-47
109
31
Africa
32
African oil exporters3
33
Other countries
34
International and regional organizations4
1. Official and private transactions in marketable U.S. Treasury securities having an
original maturity of more than one year. Data are based on monthly transactions reports.
Excludes nonmarketable U.S. Treasury bonds and notes held by official institutions of foreign
countries.
2. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
638
-40
-302
159
3. Comprises Algeria, Gabon, Libya, and Nigeria.
4. Includes the International Bank for Reconstruction and Development, as well as
African, Asian, Caribbean, European, Latin American, and Middle Eastern regional organizations. Beginning with data for June 2006, also includes the Bank for International Settlements.
56
Federal Reserve Bulletin Statistical Supplement • May 2008
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
2007
Oct.
Nov.
2008
Dec.
Jan.
Feb.
Mar.
0.8719
1.7852
1.0021
7.3682
5.1235
1.4559
7.7983
39.38
112.45
3.3324
10.846
0.7690
5.5000
1.4487
6.8376
931.10
108.891
6.47 64
1.1402
32.412
30.158
2.0161
2.14
0.8823
1.7710
1.0099
7.2405
5.0575
1.4728
7.8044
39.27
107.82
3.2653
10.906
0.7740
5.3993
1.4299
6.9962
942.06
108.156
6.3978
1.1006
32.359
30.305
1.9702
2.14
0.9133
1.7290
0.9986
7.1644
5.0507
1.4759
7.7963
39.67
107.03
3.2216
10.768
0.7969
5.3851
1.4106
7.6578
944.01
107.827
6.3450
1.0890
31.616
31.174
1.9646
2.14
0.9221
1.7090
1.0029
7.0722
4.8043
1.5520
7.7813
40.15
100.76
3.1841
10.733
0.8004
5.1495
1.3843
7.9921
981.73
107.684
6.0613
1.0126
30.577
31.404
2.0015
2.14
Exchange rates
COUNTRY/CURRENCY UNIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Australia/dollar2
Brazil/real
Canada/dollar
China, P.R./yuan
Denmark/krone
European Monetary Union/euro3
Hong Kong/dollar
India/rupee
Japan/yen
Malaysia/ringgit
Mexico/peso
New Zealand/dollar2
Norway/krone
Singapore/dollar
South Africa/rand
South Korea/won
Sri Lanka/rupee
Sweden/krona
Switzerland/franc
Taiwan/dollar
Thailand/baht
United Kingdom/pound2
Venezuela/bolivar
0.7627
2.4352
1.2115
8.1936
5.9953
1.2449
7.7775
44.00
110.11
3.7869
10.894
0.7049
6.4412
1.6639
6.3606
1,023.75
100.383
7.4710
1.2459
32.131
40.252
1.8204
2.11
0.7535
2.1738
1.1340
7.9723
5.9422
1.2563
7.7681
45.19
116.31
3.6661
10.906
0.6492
6.4095
1.5882
6.7668
954.32
103.940
7.3718
1.2532
32.507
37.876
1.8434
2.14
0.8391
1.9461
1.0734
7.6058
5.4413
1.3711
7.8016
41.18
117.76
3.4354
10.928
0.7365
5.8557
1.5065
7.0477
928.97
110.620
6.7550
1.1999
32.852
32.203
2.0020
2.14
0.8996
1.7987
0.9754
7.5019
5.2363
1.4233
7.7545
39.37
115.87
3.3735
10.821
0.7603
5.4023
1.4650
6.7574
914.94
112.858
6.4439
1.1741
32.550
31.525
2.0449
2.14
0.8961
1.7669
0.9672
7.4210
5.0766
1.4683
7.7774
39.33
111.07
3.3588
10.881
0.7631
5.4156
1.4466
6.7049
918.81
110.418
6.3242
1.1233
32.328
31.348
2.0701
2.14
Indexes4
NOMINAL
24 Broad (January 1997=100)5
25 Major currencies (March 1973=100)''
26 Other important trading partners (January
1997=100)7
110.71
83.71
108.52
82.46
103.40
77.84
99.80
73.93
98.37
72.20
99.27
73.69
98.48
73.06
97.67
72.57
95.77
70.32
138.89
135.38
130.28
127.98
127.40
126.99
126.08
124.83
123.96
97.57'
90.62'
96.42'
90.55'
91.89'
86.41'
88.43'
82.27'
87.12'
80.48'
87.67'
81.90'
87.13'
81.47'
85.86'
81.00'
84.83
78.99
115.84'
113.11'
107.65'
104.79'
104.02'
103.41'
102.69'
100.23'
100.41
REAL
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
29 Other important trading partners (March
1973=100)7
1. Averages of certified noon buying rates in New York for cable transfers. Data in this
table also appear in the Board's G.5 (405) monthly statistical release, available at
www.federalreserve.gov/releases.
2. U.S. dollars per currency unit.
3. The euro is reported in place of the individual euro area currencies. By convention, the
rate is reported in U.S. dollars per euro.
4. Starting with the January 2004 Statistical Supplement to the Federal Reserve Bulletin,
revised index values resulting from the periodic revision of data that underlie the calculated
trade weights are reported. For more information on the indexes of the foreign exchange value
of the dollar, see Federal Reserve Bulletin, vol. 91 (Winter 2005), pp. 1-8.
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 Bloomberg LLP.
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 Bloomberg LLP.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title, Table Number, and Reporting Date for Data
Issue
Assets and liabilities of commercial banks, 4.20
December 31,2006
March 31,2007
June 30, 2007
September 30, 2007
December 31,2007
March 2007
June 2007
September 2007
December 2007
March 2008
58
58
58
58
58
Terms of lending at commercial banks, 4.23
May 2007
August 2007
November2007
February 2008
August 2007
November 2007
February 2008
May 2008
58 Supplement
58 Supplement
58 Supplement
58 Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
March31,2007
June 30, 2007
September 30,2007
December 31,2007
August 2007
November 2007
February 2008
May 2008
64
64
64
64
Pro formafinancialstatements for Federal Reserve priced services, 4.31*
March31,2001
June30,2001
September 30, 2001
August 2001
October2001
January 2002
Page Reference
Supplement
Supplement
Supplement
Supplement
Supplement
Supplement
Supplement
Supplement
Supplement
A76 Bulletin
A64 Bulletin
A64 Bulletin
Residential lending reported under the Home Mortgage Disclosure Act, 4.34-4.411
1989-2001
1990-2002
1991-2003
September 2002
September 2003
September 2004
A58 Bulletin
A58 Bulletin
58 Supplement
Disposition of applications for private mortgage insurance, 4.42-4.45
1998-2001
1999-2002
2000-2003
September 2002
September 2003
September 2004
A67 Bulletin
A67 Bulletin
67 Supplement
Small loans to businesses and farms, 4.46-4.48
1997-2003
1998-2004
1999-2005
2000-2006
September 2004
September 2005
September 2006
September 2007
70
60
60
60
Supplement
Supplement
Supplement
Supplement
Community development lending reported under the Community Reinvestment Act, 4.49
2003
September 2004
2004
September 2005
2005
September 2006
2006
September 2007
73
63
63
63
Supplement
Supplement
Supplement
Supplement
*The pro formafinancialstatements 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 • May 2008
4.23
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, February 4-8, 2008
A. Commercial and industrial loans made by all commercial banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
4.64
3.61
3.97
4.86
5.36
84,378
5,835
11,280
29,977
15,526
556
1.583
748
540
359
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
5.68
5.02
5.15
6.02
6.11
18,258
358
1,934
7,288
3,916
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
3.70
3.30
3.48
3.90
3.90
16 2 to 30 days
17
Minimal risk ..
18 Low risk
19
Moderate risk .
20
Other
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
set*
24.0
5.7
20.5
27.0
36.2
77.8
58.4
76.3
73.3
80.2
10.3
1.9
9.0
14.1
15.9
11.0
2.5
4.6
9.9
8.7
69.7
48.3
62.3
75.0
74.0
87.0
89.3
71.4
93.5
94.8
10.7
9.8
13.1
12.1
10.5
12.9
1.2
5.5
28.3
10.9
51.3
44.1
61.2
65.8
53.8
10.2
.4
15.0
15.5
6.5
51.6
43.8
69.4
38.2
30.7
7.5
.0
6.9
17.7
4.7
523
517
367
462
550
29.6
33.7
18.4
47.0
62.3
32.2
30.9
69.8
39.9
58.8
5.3
11.9
7.0
6.7
8.3
86.6
83.7
88.5
78.6
79.9
10.0
12.9
11.8
456
453
433
366
226
52.8
14.1
42.8
52.3
81.7
20.7
7.3
43.0
40.1
12.8
14.2
1.5
8.9
5.7
28.5
94.4
98.3
95.5
92.8
97.3
15.8
1.6
7.1
17.4
25.2
48
54
69
49
41
61.8
16.9
82.7
38.7
73.0
25.0
.7
47.0
22.5
8.6
43.7
40.6
23.3
36.2
60.8
86.8
71.9
53.8
89.0
95.2
14.4
6.3
7.8
14.0
17.8
85.9
74.1
44.5
22.9
7.2
12.7
26.9
38.7
67.6
61.6
28.2
11.1
86.0
90.8
88.4
69.6
12.3
9.1
Secured by
collateral
Subject to
prepayment
penalty
485
178
336
449
471
37.3
10.5
21.0
46.6
62.4
31.2
35.2
52.8
39.0
27.3
202
319
237
221
144
683
913
687
653
632
64.8
49.2
51.6
66.6
78.2
23,678
3,955
5,054
8,151
3,061
2.517
15.779
2.595
1.986
1.702
124
9
120
119
31
4.38
4.05
3.84
4.69
4.79
26,715
827
3,382
9,859
2,680
1.203
1.033
1.407
1.460
352
21 31 to 365 days . .
22
Minimal risk . .
23 Low risk
24
Moderate risk .
25
Other
5.05
3.99
4.71
4.86
5.69
10,447
625
606
3,077
3,920
704
912
355
495
1.174
26 More than 365 days . . .
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
5.91
4.69
4.86
5.70
6.24
4,934
58
249
1,476
1,934
356
128
310
Days
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
Weightedaverage risk
Weightedaverage
maturity/
repricing
interval2
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1,000-9,999 .. .
10,000 or more .
6.48
5.87
4.86
4.16
2,990
10,539
22,454
48,395
3.2
3.2
3.2
2.8
170
147
157
61
Average size
(thousands
of dollars)
BASE RATE OF LOAN7
35 Prime
36 Other
Footnotes appear at end of table.
5.90
4.24
20,224
64,154
3.3
2.9
62.3
29.4
14.5
36.4
203
1,232
89.7
74.1
Financial Markets
4.23
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, February 4-8, 2008—Continued
B. Commercial and industrial loans made by all domestic banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
5.22
4.20
4.60
5.08
5.89
44,796
1,524
4,779
19,661
10,775
305
449
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
5.47
4.62
5.12
5.54
6.06
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
42.1
20.8
46.8
35.8
51.0
85.0
49.8
72.0
88.4
96.0
14.6
6.5
18.9
14.5
17.7
11.5
3.4
3.0
11.0
8.6
69.3
61.2
62.5
71.5
77.2
85.9
85.4
69.4
92.9
94.3
10.8
10.8
13.4
12.6
10.3
14.3
7.1
23.8
7.4
68.0
25.5
.3
50.9
25.7
4.7
37.9
2.7
66.8
33.8
63.3
53.7
2.5
51.4
62.0
85.0
25.8
2.7
41.0
23.6
16.4
566
551
562
553
409
46.5
81.3
34.0
38.1
86.4
20.4
13.9
18.2
18.7
28.9
13.4
38.4
19.4
10.1
17.0
94.8
56.7
95.3
97.6
96.0
11.9
7.9
17.5
11.3
13.4
467
512
194
306
1,130
329
230
376
525
181
68.6
26.6
67.8
43.3
85.1
13.2
.4
7.2
23.0
9.1
22.5
2.8
17.0
9.6
30.8
95.1
96.9
93.4
92.9
99.1
21.6
3.1
9.8
19.9
26.3
352
128
309
281
646
48
54
69
50
41
62.2
16.9
83.5
38.0
73.1
25.4
.7
46.5
23.1
8.6
44.4
40.6
23.5
37.2
60.9
86.6
71.9
53.4
88.7
95.2
14.4
6.3
7.9
14.4
17.8
Weightedaverage risk
rating3
Weightedaverage
maturity/
repricing
interval2
76.5
55.3
32.1
7.0
10.8
18.5
22.3
67.7
64.2
39.9
26.6
86.0
90.6
91.9
75.3
10.8
14.0
19.2
89.0
82.1
16.5
13.0
Secured by
collateral
Subject to
prepayment
penalty
364
256
630
309
661
602
543
53.3
34.0
43.3
40.7
79.8
17.5
3.2
21.5
18.7
11.1
16,588
263
1,810
6,186
3,608
186
248
227
189
135
667
689
643
657
584
63.5
60.1
53.1
63.7
76.7
4.22
3.57
3.84
4.27
6.19
6,068
603
1,134
3,666
306
720
3 078
638
954
189
513
268
348
16 2 to 30 days
17
Minimal risk
18 Low risk
19
Moderate risk
20
Other
4.96
4.99
4.22
5.06
5.16
10,407
256
1,216
6,417
1,291
524
387
575
1 053
179
21 31 to 365 days
22
Minimal risk
23 Low risk
24
Moderate risk
25
Other
5.43
4.25
5.65
4.84
5.77
6,609
332
318
1,830
3,624
26 More than 365 days
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
5.91
4.69
4.88
5.72
6.24
4,854
58
247
1,436
1,931
Days
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
Days
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
59
1-99
100-999
1.000-9.999 . . .
10,000 or more .
6.48
5.92
5.15
4.64
2,966
9,824
15,263
16,743
3.2
3.2
3.2
3.2
171
155
216
154
Average size
(thousands
of dollars)
BASE RATE OF LOAN7
35 Prime
36 Other
Footnotes appear at end of table.
5.73
4.84
18,849
25,947
3.3
3.1
149
197
61.3
47.5
15.2
19.1
191
541
60
Federal Reserve Bulletin Statistical Supplement • May 2008
4.23
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, February 4-8, 2008—Continued
C. Commercial and industrial loans made by large domestic banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
5.04
3.79
4.41
4.91
5.75
39,519
1,206
4,082
17,556
9,371
449
1,124
479
633
348
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
5.32
4.44
5.07
5.39
5.87
13,957
236
1,373
5,116
2,833
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
4.10
3.47
3.73
4.21
5.93
16 2 to 30 days
17
Minimal risk ..
18 Low risk
19
Moderate risk .
20
Other
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Commitment status
Percent made
under
commitment
Average
months since
loan terms
set*
39.4
13.8
43.7
33.0
48.1
85.9
49.9
73.4
88.4
97.9
15.7
8.0
20.6
15.5
19.2
3.5
12.4
10.2
66.7
57.2
55.2
69.9
73.6
86.2
88.5
75.1
93.2
95.9
11.4
11.4
14.0
13.5
10.7
55.8
52.5
26.4
2.8
35.4
1.7
65.6
31.9
50.6
52.5
1.5
50.4
61.0
89.6
27.5
4.3
43.0
24.6
21.8
43.6
50.0
33.0
35.7
85.2
21.5
37.3
18.6
19.4
31.5
10.5
.0
19.0
8.1
11.5
95.8
82.7
95.4
97.5
97.8
12.3
14.3
17.7
11.6
14.3
341
252
485
571
179
65.9
9.7
51.1
36.5
84.7
14.6
.5
11.5
26.3
9.4
21.2
.6
20.8
6.6
30.1
97.3
100.0
96.3
95.5
99.8
23.2
3.7
17.4
21.9
26.8
44
52
71
46
37
55.5
9.8
28.5
1.0
49.5
6.4
50.1
49.8
24.5
45.2
68.3
91.9
91.2
54.0
93.3
98.7
16.7
6.9
8.3
17.9
20.0
10.7
12.9
19.5
22.5
66.7
63.2
39.8
25.7
90.8
93.8
92.6
76.2
9.4
12.1
14.9
19.2
91.3
82.3
18.2
13.8
Secured by
collateral
Subject to
prepayment
penalty
596
274
716
556
482
49.7
18.7
40.8
35.8
78.6
19.1
3.6
24.6
20.3
11.7
228
450
242
262
160
701
598
774
678
588
62.2
57.9
56.7
61.0
74.1
5,760
564
1,093
3,554
199
1,553
8,015
1,922
1,905
579
265
5
513
255
135
10.3
1.8
21.0
4.7
4.87
4.39
4.17
4.97
5.03
9,751
95
1,179
6,091
1,174
648
369
711
1,614
199
509
725
572
475
303
21 31 to 365 days . .
22
Minimal risk . .
23 Low risk
24
Moderate risk .
25
Other
5.26
3.70
5.00
4.54
5.73
5,926
267
162
1,599
3,513
1 481
1,512
541
1,171
1,990
26 More than 365 days . . .
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
5.61
3.64
4.66
5.35
6.05
3,878
42
223
1,075
1,640
1,096
1 250
748
957
1,662
Days
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
Weightedaverage risk
81.8
22.0
71.1
26.1
Weightedaverage
maturity/
repricing
interval2
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1,000-9,999 .. .
10,000 or more .
6.01
5.67
5.05
4.65
1,749
7,360
13,865
16,545
3.4
3.3
3.2
3.2
54
109
180
156
84.8
73.3
53.6
32.3
Average size
(thousands
of dollars)
BASE RATE OF LOAN7
35 Prime
36 Other
Footnotes appear at end of table.
5.57
4.70
15,584
23,935
3.3
3.1
157
147
58.1
44.3
17.9
19.9
268
804
Financial Markets
4.23
61
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, February 4-8, 2008—Continued
D. Commercial and industrial loans made by small domestic banks'
Maturity/repricing
interval2 and
risk of loans3
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Secured by
collateral
Days
Subject to
prepayment
penalty
Commitment status
Percent made
under
commitment
Average
months since
loan terms
set*
LOAN RISK
6.51
5.74
5.68
6.52
6.86
5,277
319
697
2,104
1,404
90
137
120
890
537
379
1,020
946
80.2
92.0
58.2
81.6
87.9
4.9
1.5
3.0
5.8
6.9
61.9
47.3
65.0
58.9
70.5
78.7
49.2
63.8
88.2
83.0
5.5
.7
7.6
6.0
6.2
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
6.24
6.20
5.27
6.28
6.75
2,632
27
438
1,070
775
94
50
190
81
86
483
1,392
344
532
570
70.3
80.0
42.0
76.4
86.1
18.0
1.4
4.5
3.0
82.9
97.0
85.7
79.5
90.2
84.1
57.9
51.5
91.6
88.6
7.9
2.6
10.8
8.2
8.7
11 Daily
12
Minimal risk
13
Low risk
14
Moderate risk
15
Other
6.41
5.04
6.73
6.45
6.67
308
38
42
112
107
65
305
34
56
84
698
196
533
665
664
89.7
86.1
95.8
92.0
90.7
83.6
17.6
99.0
95.8
87.0
76.2
17.7
77.8
93.8
76.4
4.0
.8
7.6
3.1
4.6
16 2 to 30 days
17
Minimal risk . .
18
Low risk
19
Moderate risk .
20
Other
6.29
5.35
5.80
6.70
6.51
657
160
37
326
117
136
399
82
140
91
239
2,024
1,401
90.0
99.9
67.0
84.6
97.7
56.1
61.3
33.9
48.4
72.0
80.5
41.2
91.2
99.1
77.9
4.7
.2
12.6
5.8
2.1
21 31 to 365 days . .
22
Minimal risk . .
23
Low risk
24
Moderate risk .
25
Other
6.98
6.53
6.33
6.93
6.95
683
65
156
231
110
67
138
117
50
76
229
141
278
219
240
92.2
96.0
85.0
90.9
97.2
33.8
11.9
13.2
30.4
53.0
75.8
84.1
90.3
74.9
78.4
2.1
.2
1.5
2.6
4.1
26 More than 365 days . . .
27
Minimal risk
28
Low risk
28
Moderate risk
30
Other
7.09
7.42
6.93
6.83
7.31
95
39
47
90
145
65
58
50
61
68
88.6
35.6
98.7
85.6
84.3
12.9
.0
18.6
14.1
21.2
21.8
16.7
14.1
13.4
18.9
65.6
21.7
47.5
74.9
75.2
1.2
.0
4.3
1.0
1.1
88.1
86.1
71.7
1.7
4.5
9.2
69.0
67.4
40.6
79.1
80.8
85.6
6.2
6.3
3.7
78.0
79.7
6.9
3.4
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
976
16
24
361
291
Weightedaverage risk
4.5
.0
8.9
1.2
6.6
6.3
3.1
2.8
.5
Weightedaverage
maturity/
repricing
interval2
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1,000-9,999 . . .
10,000 or more .
7.16
6.68
6.06
1,217
2,464
1,398
3.1
3.2
2.9
340
294
570
Average size
(thousands
of dollars)
BASE RATE OF LOAN 7
35 Prime
36 Other
Footnotes appear at end of table.
6.48
6.56
3,265
2,012
3.1
2.9
111
783
76.7
85.7
2.3
9.2
81
110
62
Federal Reserve Bulletin Statistical Supplement • May 2008
4.23
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, February 4-8, 2008—Continued
E. Commercial and industrial loans made by U.S. branches and agencies of foreign banks'
Weightedaverage
effective
loan rate
(percent)4
Amount of
loans
(millions
of dollars)
3.99
3.40
3.52
4.44
4.14
39,582
4,311
6,501
10,316
4,751
7.871
14.854
8.804
7.125
4.214
By maturity/repricing interval
6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10
Other
7.84
6.15
5.62
8.72
6.69
1,670
95
124
1,101
308
1.762
1.553
11 Daily
12
Minimal risk
13 Low risk
14
Moderate risk
15
Other
3.52
3.26
3.38
3.60
3.65
16 2 to 30 days
17
Minimal risk ..
18 Low risk
19
Moderate risk .
20
Other
21 31 to 365 days . .
22
Minimal risk . .
23 Low risk
24
Moderate risk .
25
Other
Maturity/repricing
interval2 and
risk of loans3
Average
loan size
(thousands of
dollars)
Weightedaverage
maturity5
Percent of amount of loans (percent)
Secured by
collateral
Days
Subject to
prepayment
penalty
Commitment status
Percent made
under
commitment
Average
months since
loan terms
set*
LOAN RISK
1 All commercial and industrial loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other
603
332
137
145
156
319
916
1,490
1,152
3.882
610
783
1,119
17,610
3,352
3,920
4,485
2,755
18.024
61.156
23.231
17.243
15.535
72
9
15
4
2
4.00
3.63
3.62
4.00
4.44
16,307
571
2,166
3,442
1,389
6.976
4,117
7.465
5.242
3.356
497
505
277
295
671
4.38
3.68
3.66
4.87
4.68
3,838
292
288
1,247
296
5.545
8.239
4,119
5.551
2.222
672
704
492
142
779
57.9
23.1
46.7
46.5
75.9
77.7
63.9
1.1
10.4
2.6
69.7
61.5
79.5
44.5
44.5
4.5
.6
2.4
12.4
6.8
78.0
18.9
29.5
82.8
95.9
6.3
.0
28.8
3.6
10.1
74.3
12.7
58.9
94.6
36.6
98.1
100.0
100.0
97.1
100.0
9.6
7.3
10.0
9.2
12.5
12.4
60.2
51.9
64.2
98.7
59.2
.7
.0
.0
.4
50.9
51.2
74.6
18.8
24.7
.9
.0
.0
1.8
39.7
38.5
98.8
79.3
86.6
81.4
95.8
84.7
43.1
65.0
5.9
1.7
5.2
19.7
9.7
15.2
65.5
40.7
33.7
15.0
82.6
65.2
57.6
93.2
100.0
97.9
92.7
74.8
4.3
13.8
7.4
56.1
41.6
21.7
18.0
29.6
38.7
44.6
47.4
93.1
93.9
80.8
66.7
11.6
14.9
8.3
3.1
99.8
68.7
10.2
4.2
19.1
2.1
4.6
.1
2
45.4
4.6
18.8
12.4
9.6
63.5
39.8
25.7
.0
Months
1,761
26 More than 365 days . . .
27
Minimal risk
28 Low risk
28
Moderate risk
30
Other
Weightedaverage risk
Weightedaverage
maturity/
repricing
interval2
SIZE OF LOAN
(thousands of dollars)
31
32
33
34
1-99
100-999
1,000-9,999 .. .
10,000 or more .
5.82
5.09
4.26
3.90
24
715
7,191
31,652
3.1
3.1
3.1
2.6
22
35
32
13
59.0
26.0
3.5
2.9
Average size
(thousands
of dollars)
BASE RATE OF LOAN7
35 Prime
36 Other
Footnotes appear at end of table.
8.31
3.84
1,375
38,207
3.0
2.6
76.4
17.0
3.8
48.2
1,471
9,333
Financial Markets
4.23
63
TERMS OF LENDING AT COMMERCIAL BANKS Survey of Loans Made, February 4-8, 2008—Continued
F. Commercial and industrial loans by date pricing terms were set and commitment status
Date pricing terms were set
and commitment status
Weightedaverage
loan rate4
(percent)
Amount of
loans
(millions
of dollars)
Average loan
size
(thousands of
dollars)
Weighted-
Weightedaverage
maturity
repricing
interval2
Percent of amount of loans
risk rating3
Days
Secured by
collateral
Subject to
prepayment
penalty
Prime
based
All commercial banks
1 During survey week
2
Not under commitment
3
Informal commitment
4
Formal commitment
4.03
3.89
3.85
5.19
41,183
18,694
17,602
4,887
919
890
1,175
555
2.7
2.8
2.3
2.9
68
74
32
175
23.8
30.2
7.6
57.3
41.7
47.3
40.7
23.9
9.9
11.1
4.3
25.6
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
5.18
5.40
5.08
10,036
16,073
17,056
420
287
642
3.0
3.1
3.4
150
91
162
46.9
50.5
51.6
19.1
18.2
25.2
32.9
35.6
41.5
Domestic banks
8 During survey week
9
Not under commitment
10
Informal commitment
11 Formal commitment
5.05
4.45
6.24
5.82
11,215
6,718
1,467
3,030
265
330
109
354
2.9
2.5
3.0
3.5
222
199
226
270
48.3
29.1
80.4
75.2
14.0
10.5
1.7
27.7
36.3
30.9
50.5
41.2
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
4.93
5.55
5.19
7,131
12,506
13,915
301
227
555
3.1
3.2
3.5
203
105
190
53.8
54.3
56.1
18.3
13.8
23.1
34.6
44.4
48.4
Large domestic banks
15 During survey week
16
Not under commitment
17
Informal commitment
18 Formal commitment
4.52
4.09
5.06
5.49
8,228
5,592
411
2,225
610
641
164
980
2.9
2.5
3.2
3.6
148
137
37
196
36.9
19.6
81.1
72.3
16.6
11.0
1.5
33.6
27.9
24.3
36.4
35.4
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
4.75
5.47
5.14
6,489
11,409
13,394
401
292
696
3.1
3.1
3.5
136
110
195
49.9
51.9
55.7
20.1
14.9
23.9
33.5
41.9
47.3
Small domestic banks
22 During survey week
23
Not under commitment
24
Informal commitment
25 Formal commitment
6.53
6.24
6.70
6.71
2,987
1,126
1,056
805
103
97
96
128
2.9
2.6
2.9
3.0
421
506
289
476
79.7
76.7
80.1
83.2
6.8
8.1
1.7
11.5
59.3
63.7
56.0
57.5
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
6.71
6.36
6.39
642
1,097
521
86
68
89
3.4
3.3
3.2
890
50
76
93.0
79.9
66.7
.6
2.7
4.1
45.3
70.1
77.7
Foreign banks
29 During survey week
30
Not under commitment
31
Informal commitment
32
Formal commitment
3.64
3.58
3.63
4.17
29,969
11,977
16,135
1,857
12,316
17,465
10,808
7,289
2.6
2.9
2.2
2.1
11
5
15
21
14.6
30.9
.9
28.2
52.1
68.0
44.2
17.6
.0
.0
.1
.2
Prior to survey weeks
Up to 90 days
91 to 365 days
More than 365 days
5.81
4.89
4.61
2,905
3,567
3,142
13,861
3,951
2,118
2.8
2.9
3.0
20
41
36
29.9
37.2
31.4
21.1
33.5
34.2
28.9
4.9
11.0
5
6
7
12
13
14
19
20
21
26
27
28
33
34
35
NOTE. The Survey of Terms of Business Lending collects data on gross loan extensions
made during the first full business week in the mid-month of each quarter. The authorized
panel size for the survey is 348 domestically chartered commercial banks and 50 U.S.
branches and agencies of foreign banks. The sample data are used to estimate the terms of
loans extended during that week at all domestic commercial banks and all U.S. branches and
agencies of foreign banks. Note that the terms on loans extended during the survey week may
differ from those extended during other weeks of the quarter. The estimates reported here are
not intended to measure the average terms on all business loans in bank portfolios. The data in
this table also appear in the Board's E.2 statistical release, available on the Board's website
at: www.federalreserve.gov/releases.
1. As of March 31, 2003, assets of the large banks were at least $3.7 billion. Median total
assets for all insured banks were roughly $93 million. Assets at all U.S. branches and agencies
averaged $3.3 billion.
2. The "maturity/repricing'' interval measures the period from the date the loan is made
until it first may be repriced or matures. For floating-rate loans that are subject to repricing at
any time—such as many prime-based loans—the maturity/repricing interval is zero. For
floating-rate loans that have a scheduled repricing interval, the maturity/repricing interval
measures the number of days between the date the loan is made and the date on which it is
next scheduled to reprice. For loans having rates that remain fixed until the loan matures
(fixed-rate loans), the "maturity/repricing" interval measures the number of days between the
date the loan is made and the date on which it matures. Loans that reprice daily mature or
reprice on the business day after they are made. Owing to weekends and holidays, such loans
may have "maturity/repricing" intervals in excess of one day; such loans are not included in
the 2- to 30-day category.
3. A complete description of these risk categories is available on the Board's website at
"http://www.feder alreserve.gov/boarddocs/reportforms/ReportDetail.cfm?WhichForm!d=
FR_2028a/s." The category "Moderate risk" includes the average loan, under average
economic conditions, at the typical lender. The "Other" category includes loans rated
"Acceptable'' as well as special mention or classified loans. The weighted-average risk rating
published for loans in rows 31-36 are calculated by assigning a value of " 1 " to minimal risk
loans; " 2 " to low risk loans; " 3 " to moderate risk loans, " 4 " to acceptable risk loans; and
" 5 " to special mention and classified loans. These values are weighted by loan amount and
exclude loans with no risk rating. Some of the loans in table rows 1, 6, 11, 16, 21, 26, and
31-36 are not rated for risk.
4. Effective (compounded) annual interest rates are calculated from the stated rate and
other terms of the loans and weighted by loan amount. The standard error of the loan rate for
all commercial and industrial loans in the current survey (line 1, column 1) is 0.19 percentage
point. The chances are about two out of three that the average rate shown would differ by less
than this amount from the average rate that would be found by a complete survey of the
universe of all banks.
5. Average maturities are weighted by loan amount and exclude loans with no stated
maturities.
6. For loans made under formal commitments, the average time interval between the date
on which the loan pricing was set and the date on which the loan was made, weighted by the
loan amount. For loans under informal commitment, the time interval is zero.
7. Prime-based loans are based on the lending bank's own prime rate, any other lender's
prime rate, a combination of prime rates, or a publicly reported prime rate. Loans with
"other" base rates include loan rates expressed in terms of any other base rate (e.g., the
federal funds rate or LIBOR) and loans for which no base rate is used to determine the loan
rate.
8. For loans made under formal commitments.
* The number of loans was insufficient to provide a meaningful value.
64
Federal Reserve Bulletin Statistical Supplement • May 2008
4.30
ASSETS AND LIABILITIES
of U.S. Branches and Agencies of Foreign Banks, December 31, 20071
Millions of dollars except as noted
All states2
Total
including
IBFs3
Total assets4 .
2 Claims on nonrelated parties
3 Cash and balances due from depository institutions
4
Cash items in process of collection and unposted debits
5
Currency and coin (U.S. and foreign)
6
Balances with depository institutions in United States
7
U.S. branches and agencies of other foreign banks
(including their IBFs)
8
Other depository institutions in United States (including their
IBFs)
9
Balances with banks in foreign countries and with foreign central
banks
10
Foreign branches of U.S. banks
11
Banks in home country and home-country central banks
12
All other banks in foreign countries and foreign central banks .
13
Balances with Federal Reserve Banks
Total
includinj
IBFs
IBFs
only3
2,046,201
1,377,670
65,734
2,915
10
44,209
Total
includinj
IBFs
IBFs
only
1,771,639
67,056
19,973
0
n.a.
6,512
5,958
8,516
553
17,753
106
4,154
13,493
847
13,461
65
3,836
9,560
n.a.
14 Total securities and loans
783,500
15 Total securities, book value
16
U.S. Treasury
17
Obligations of U.S. government agencies and corporations
18
Other bonds, notes, debentures, and corporate stock (including state
and local securities)
19
Securities of foreign governmental units
20
Mortgage-backed securities
21
Issued or guaranteed by U.S. government agencies
22
Other
23
Other asset-backed securities
24
All other
222,997
10,106
20,783
1,226,738
57,899
2,887
6
40,346
32,889
7,458
IBFs
only
23,233
1,783
1,022
5,652
20,253
1,490
1
3
1,196
5,099
978
761
62,197
16,476
761
553
261
0
20
241
Total
including
IBFs
IBFs
only
99,029
4,911
86,879
2,728
15
0
2,769
2,355
126
0
126
2,567
0
2,356
211
21
10,824
65
1,461
9,298
n.a.
264
0
20
243
26
29,051
13,953
105
1,779
12,070
707
688,026
28,329
18,189
3,630
n.a.
n.a.
218,879
9,982
20,222
3,248
n.a.
n.a.
1,421
52
42
351
n.a.
n.a.
837
50
406
192,108
4,581
51,031
29,586
21,445
64,187
72,308
3,630
1,585
0
0
0
10
2,035
188,675
4,505
50,734
29,290
21,445
63,680
69,756
3,248
1,567
0
0
0
10
1,672
1,327
27
294
294
0
9
997
351
18
0
0
0
0
333
380
0
0
0
0
0
380
0
0
0
0
0
0
0
20,916
14,544
6,372
9,470
4,025
5,446
19,309
13,251
6,058
8,846
3,405
5,441
282
282
412
412
412
412
0
28 Securities purchased under agreements to resell
29
With depository institutions in the U.S
30
With others
224,580
57,168
167,412
6,059
0
6,059
212,546
51,143
161,403
6,059
0
6,059
0
0
0
10,196
6,025
4,171
0
0
0
31 Total loans, gross
32
LESS: Unearned income on loans . .
561,325
822
560,503
25,445
24
25,420
469,879
732
469,147
25,105
24
25,081
16,799
31
16,768
190
1
189
52,204
38,305
146,710
6,445
4,520
1 925
12
16,833
45
16,788
123,420
0
7,532
1,291
1,141
150
10
5,539
15
5,524
693
33,388
111,813
5,771
3,884
1,887
12
13,781
45
13,736
92,250
0
7,473
1,276
1,126
150
10
5,495
15
5,480
693
3,722
2,572
65
65
0
0
492
0
492
2,015
0
30
15
15
0
0
15
0
15
0
138
29,466
106
101
5
0
1,938
0
1,938
27,422
0
0
0
0
0
0
0
0
0
0
301,950
244,932
57,018
16,281
213
16,068
254,958
203,745
51,213
16,001
213
15,788
10,058
9,478
580
160
0
160
19,623
18,141
1,483
2
0
2
2,328
27,046
44,357
758
578
295
2,179
23,868
43,043
758
578
295
0
7
440
0
0
0
99
2,745
133
0
0
0
629
629
0
0
0
0
629
629
0
0
0
0
0
0
0
0
0
0
53 Trading assets
54
U.S. Treasury and agency securities
55
Other trading assets
237 322
26,285
211,037
1,855
0
1,855
208,199
26,211
181,988
1,855
0
1,855
3
0
3
0
0
0
18,629
0
0
0
56 All other assets
57
Customers' liabilities on acceptances outstanding
58
U.S. addressees (domicile)
59
Non-U.S. addressees (domicile)
60
Other assets including other claims on nonrelated parties
61 Net due from related depository institutions5
62
Net due from head office and other related depository institutions5
63
Net due from establishing entity, head office, and other related
depository institutions5
45,618
493
183
311
45,124
668,531
668,531
648
n.a.
n.a.
n.a.
648
76,602
n.a.
40,760
379
110
269
40,380
544,901
544,901
631
n.a.
n.a.
n.a.
631
55,455
n.a.
290
16
15
1
275
2,979
2,979
13
n.a.
n.a.
n.a.
13
4,836
n.a.
1,885
69
53
16
1,816
12,149
12,149
1
n.a.
n.a.
n.a.
1
2,142
n.a.
25 Federal funds sold
26
With depository institutions in the U.S
27
With others
33
34
35
36
37
38
39
40
41
42
43
EQUALS: Loans, net
Total loans, gross, by category
Real estate loans
Loans to depository institutions and acceptances of other banks
Commercial banks in United States (including their IBFs)
U.S. branches and agencies of other foreign banks
Other commercial banks in United States
Other depository institutions in United States (including their IBFs) .
Banks in foreign countries
Foreign branches of U.S. banks
Other banks in foreign countri
Loans to other financial institutions . .
44 Commercial and industrial loans
45
U.S. addressees (domicile)
46
Non-U.S. addressees (domicile)
47 Loans to foreign governments and official institutions (including
foreign central banks)
48 Loans for purchasing or carrying securities (secured and unsecured)
49 All other loans
50 Lease financing receivables (net of unearned income)
51
U.S. addressees (domicile)
52
Non-U.S. addressees (domicile)
53,029
208
0
n.a.
n.a.
52,192
0
0
0
2,142
4,836
55,455
2,355
0
2,355
0
n.a.
76,602
64 Total liabilities4
2,046,201
143,658
1,771,639
117,652
23,233
6,619
99,029
4,911
65 Liabilities to nonrelated parties . .
1,832,588
122,850
1,583,200
97,066
16,623
6,519
96,191
4,909
Footnotes appear at end of table.
U.S. Branches and Agencies
4.30
ASSETS AND LIABILITIES
65
of U.S. Branches and Agencies of Foreign Banks, December 31, 2007'—Continued
Millions of dollars except as noted
All states2
Item
New York
Califon lia
Illinois
Total
excluding
IBFs3
IBFs
only3
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
66 Total deposits and credit balances
67
Individuals, partnerships, and corporations (including certified
and official checks)
68
U.S. addressees (domicile)
Non-U S addressees (domicile)
69
70
Commercial banks in United States (including their IBFs)
71
U.S. branches and agencies of other foreign banks
72
Other commercial banks in United States
73
Banks in foreign countries
74
Foreign branches of U.S. banks
75
Other banks in foreign countries
76
Foreign governments and official institutions
(including foreign central banks)
77
All other deposits and credit balances
1,004,022
90,616
865,005
68,964
6,647
5,578
38,895
2,812
897,924
855,277
42,647
61,193
12,764
48,429
9,043
2,037
7,007
13,142
150
12,992
9,043
6,777
2,266
28,448
421
28,027
767,007
737,030
29,977
54,907
11,443
43,464
8,713
2,037
6,677
9,145
150
8,995
7,521
5,725
1,796
18,232
261
17,971
5,309
3,227
2,082
188
23
165
4
0
4
49
0
49
1,063
906
157
3,150
154
2,996
36,626
36,440
187
1,982
1,015
967
280
0
280
1
0
1
155
0
155
2,236
6
2,230
4 955
30,906
39 473
510
4,827
29,551
33,755
310
9
1,137
1,317
0
6
0
420
0
78 Transaction accounts and credit balances (excluding IBFs)
79
Individuals, partnerships, and corporations (including certified
and official checks)
80
U.S. addressees (domicile)
81
Non-U S addressees (domicile)
82
Commercial banks in United States (including their IBFs)
83
U.S. branches and agencies of other foreign banks
84
Other commercial banks in United States
85
Banks in foreign countries
86
Foreign branches of U.S. banks
87
Other banks in foreign countries
88 Foreign governments and official institutions
(including foreign central banks)
89 All other deposits and credit balances
13,295
n.a.
10,609
n.a.
172
n.a.
234
n.a.
12,073
6,450
5 623
106
27
78
543
0
543
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
233
152
81
0
0
0
0
0
0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
138
87
51
0
0
0
4
0
4
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
9,529
5,994
3,535
82
27
54
509
0
509
387
186
n.a.
n.a.
332
158
n.a.
n.a.
4
26
n.a.
n.a.
0
0
n.a.
n.a.
90 Nontransaction accounts (including MMDAs, excluding IBFs)
91
Individuals, partnerships, and corporations (including certified
and official checks)
92
U.S. addressees (domicile)
93
Non-U.S. addressees (domicile)
94
Commercial banks in United States (including their IBFs)
95
U.S. branches and agencies of other foreign banks
96
Other commercial banks in United States
97
Banks in foreign countries
98
Foreign branches of U.S. banks
99
Other banks in foreign countries
100
Foreign governments and official institutions
(including foreign central banks)
101
All other deposits and credit balances
990,727
n.a.
854,395
n.a.
6,475
n.a.
38,661
n.a.
885,851
848,827
37 024
61,087
12,736
48,351
8,500
2,037
6,464
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
757,478
731,036
26,442
54,825
11,415
43,410
8,204
2,037
6,168
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
5,171
3,139
2,031
187
23
164
0
0
0
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
36,393
36,288
105
1,982
1,015
967
280
0
280
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
4,569
30,720
n.a.
n.a.
4,495
29,393
n.a.
n.a.
6
1,111
n.a.
n.a.
6
0
n.a.
n.a.
n.a.
90,616
n.a.
68,964
n.a.
5,578
n.a.
2,812
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
13,142
150
12,992
9,043
6,777
2,266
28,448
421
28,027
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
9,145
150
8,995
7,521
5,725
1,796
18,232
261
17,971
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
49
0
49
1,063
906
157
3,150
154
2,996
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
1
0
1
155
0
155
2,236
6
2,230
n.a.
n.a.
39,473
510
n.a.
n.a.
33,755
310
n.a.
n.a.
1,317
0
n.a.
n.a.
420
0
102 IBF deposit liabilities
103
Individuals, partnerships, and corporations (including certified
and official checks)
104
U S addressees (domicile)
105
Non-U.S. addressees (domicile)
106
Commercial banks in United States (including their IBFs)
107
U.S. branches and agencies of other foreign banks
108
Other commercial banks in United States
Banks in foreign countries
109
110
Foreign branches of U.S. banks
111
Other banks in foreign countries
112 Foreign governments and official institutions
(including foreign central banks)
113 All other deposits and credit balances
Footnotes appear at end of table.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
66
Federal Reserve Bulletin Statistical Supplement • May 2008
4.30
ASSETS AND LIABILITIES
of U.S. Branches and Agencies of Foreign Banks, December 31, 2007'—Continued
Millions of dollars except as noted
All states2
Total
including
IBFs
Total
including
IBFs
Total
including
IBFs
Total
including
IBFs3
IBFs
only3
71,893
28,834
43,059
15,834
1,455
14,379
55,118
20,762
34,356
12,982
788
12,194
649
649
0
86
86
0
9,203
3,305
5,898
1,938
380
1,558
117 Securities sold under agreements to repurchase
118 With depository institutions in the U.S
119 With others
120 Other borrowed money
121 Owed to nonrelated commercial banks in United States (including
their IBFs)
122
Owed to U.S. offices of nonrelated U.S. banks
123
Owed to U.S. branches and agencies of nonrelated
foreign banks
124 Owed to nonrelated banks in foreign countries
125
Owed to foreign branches of nonrelated U.S. banks
126
Owed to foreign offices of nonrelated foreign banks
127 Owed to others
217,604
19,849
197,755
286,667
156
0
156
15,406
208,522
19,849
188,674
243,408
156
0
156
14,241
275
0
275
3,171
0
0
0
817
6,949
0
6,949
26,135
0
0
148
18,486
12,213
2,065
60
16,320
10,789
1,905
60
531
146
75
0
894
685
6,273
16,830
779
16,051
251,351
2,005
9,914
386
9,528
3,427
5,531
15,720
626
15,095
211,368
1,845
9,139
296
8,843
3,197
385
633
72
561
2,007
75
512
52
460
230
209
113
38
75
25,127
128 All other liabilities
129
Branch or agency liability on acceptances executed and
outstanding
130
Trading liabilities
131
Other liabilities to nonrelated parties
161,786
837
142,182
722
303
511
120,247
41,028
n.a.
132 Net due to related depository institutions5
133
Net due to head office and other related depository institutions5 . . .
134
Net due to establishing entity, head office, and other related
depository institutions5
114 Federal funds purchased
115 With depository institutions in the U.S. . .
116 With others
IBFs
only
IBFs
only
IBFs
only
55
93
38
55
0
12,197
8
715
16
0
287
n.a.
0
37
69
10,424
1,704
188,440
188,440
20,586
n.a.
6,609
6,609
100
n.a.
2,838
2,838
n.a.
n.a.
n.a.
80,334
20,382
59,952
n.a.
n.a.
n.a.
3,602
1,133
2,469
n.a.
n.a.
n.a.
15,154
5,372
9,782
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
174,319
12,875
161,444
n.a.
n.a.
n.a.
6,387
373
6,015
n.a.
n.a.
n.a.
4,392
617
3,775
n.a.
n.a.
n.a.
n.a.
8
830
394
106,080
35,709
213,612
213,612
20,808
n.a.
106,390
28,864
77,526
195,057
14,498
180,559
n.a.
0
12
MEMO
135 Holdings of own acceptances included in commercial and
industrial loans
136 Commercial and industrial loans with remaining maturity of one year
or less (excluding those in nonaccrual status)
137
Predetermined interest rates
138 Floating interest rates
139 Commercial and industrial loans with remaining maturity of more
than one year (excluding those in nonaccrual status)
140
Predetermined interest rates
141
Floating interest rates
Footnotes appear at end of table.
U.S. Branches and Agencies
4.30
ASSETS AND LIABILITIES
67
of U.S. Branches and Agencies of Foreign Banks, December 31, 2007'—Continued
Millions of dollars except as noted
All states2
Item
142 Components of total n on transaction accounts,
included in total deposits and credit balances
143 Time deposits of $100,000 or more
144 Time CDs in denominations of $100,000 or more
with remaining maturity of more than 12 months
Total
excluding
IBFs3
IBFs
only3
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
Total
excluding
IBFs
IBFs
only
1,022,576
968,999
n.a.
n.a.
887,505
837,452
n.a.
n.a.
6,383
6,261
n.a.
n.a.
37,183
37,182
n.a.
n.a.
53,577
n.a.
50,054
n.a.
122
n.a.
1
n.a.
Total
including
IBFs3
IBFs
only3
Total
including
IBFs
131,819
244
n.a.
127
124,949
48
All states2
145 Immediately available funds with a maturity greater than one day
included in other borrowed money
146 Number of reports filed6
Illinois
California
New York
1. Data are aggregates of categories reported on the quarterly form FFIEC 002, "Report of
Assets and Liabilities of U.S. Branches and Agencies of Foreign Banks." The form was first
used for reporting data as of June 30, 1980, and was revised as of December 31, 1985. From
November 1972 through May 1980, U.S. branches and agencies of foreign banks had filed a
monthly FR 886a report. Aggregate data from that report were available through the Federal
Reserve monthly statistical release G.11, last issued on July 10, 1980. Data in this table and in
the G.ll tables are not strictly comparable because of differences in reporting panels and in
definitions of balance sheet items.
2. Includes the District of Columbia.
3. Effective December 1981, the Federal Reserve Board amended Regulations D and Q to
permit banking offices located in the United States to operate international banking facilities
(IBFs). Since December 31, 1985, data for IBFs have been reported in a separate column.
These data are either included in or excluded from the total columns as indicated in the
headings. The notation "n.a." indicates that no IBF data have been reported for that item,
Illinois
California
New York
IBFs
only
Total
including
IBFs
n.a.
12
2,725
n.a.
IBFs
only
Total
including
IBFs
IBFs
only
n.a.
n.a.
2,317
n.a.
n.a.
n.a.
either because the item is not an eligible IBF asset or liability or because that level of detail is
not reported for IBFs. From December 1981 through September 1985, IBF data were
included in all applicable items reported.
4. Total assets and total liabilities include net balances, if any, due from or owed to related
banking institutions in the United States and in foreign countries (see note 5). On the former
monthly branch and agency report, available through the G.ll monthly statistical release,
gross balances were included in total assets and total liabilities. Therefore, total asset and total
liability figures in this table are not comparable to those in the G.ll tables.
5. Related depository institutions includes the foreign head office and other U.S. and
foreign branches and agencies of a bank, a bank's parent holding company, and majorityowned banking subsidiaries of the bank and of its parent holding company (including
subsidiaries owned both directly and indirectly).
6. In some cases, two or more offices of a foreign bank within the same metropolitan area
file a consolidated report.
68
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign banks, U.S. branches and agencies, 64-67
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21, 64—67 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21, 64-67
Weekly reporting by banks, 17, 18
Commercial banks
Assets and liabilities, 15-21
Commercial and industrial loans, 15-21, 58-63
Consumer loans held, by type and terms, 34, 58-63
Real estate mortgages held, by holder and property, 33
Terms of lending, 58-63
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 securities and U.S. government securities)
Demand deposits, 15-21
Depository institutions
Reserve requirements, 8
Reserves and related items, 4—6, 12
Deposits
Commercial banks, 4, 15-21
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
EXCHANGE rates, foreign, 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
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 banks, U.S. branches and agencies, 64-67
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
Commercial banks, 58-63
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22, 58-63
International capital transactions of United States, 44-55
International organizations, 45, 46^17, 48, 50-55
Investment companies, issues and assets, 30
Investments
Commercial banks, 4, 15-21, 58-63
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans
Commercial banks, 15-21, 58-63
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Foreign banks, U.S. branches and agencies, 64-67
Insured or guaranteed by United States, 32, 33
MANUFACTURING
Capacity utilization, 40, 41
Production, 42, 43
Margin requirements, 24
Member banks, reserve requirements, 8
Mining production, 43
Monetary and credit aggregates, 4, 12
Money and capital market rates, 23
Money stock measures and components, 4, 13
Mortgages (See Real estate loans)
Mutual funds, 13, 30
Mutual savings banks (See Thrift institutions)
OPEN market transactions, 9
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22, 58-63
Production, 42, 43
REAL estate loans
Banks, 15-21, 33
Terms, yields, and activity, 32
Type and holder and property mortgaged, 33
Reserve requirements, 8
Reserves
Commercial banks, 15-21
Depository institutions, 4—6
Federal Reserve Banks, 10
U.S. reserve assets, 45
Residential mortgage loans, 32, 33
Retail credit, 34
SAVING
Flow of funds, 33, 34, 35-39
Saving deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-39
Securities (See also U.S. government securities)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44—55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting by banks, 17, 18
YIELDS (See Interest rates)
69
70
Federal Reserve Bulletin Statistical Supplement • May 2008
Federal Reserve Board Publications
For ordering assistance, write PUBLICATIONS FULFILLMENT, MS-127, Board of Governors of the Federal Reserve
System, Washington, DC 20551, or telephone (202) 452-3245,
or FAX (202) 728-5886. You may also use the publications
order
form
available
on
the
Board's
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FEDERAL RESERVE REGULATORY SERVICE FOR PERSONAL
BOOKS AND MISCELLANEOUS
GUIDE TO THE FLOW
COMPUTERS. CD-ROM; updated monthly.
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THE FEDERAL RESERVE SYSTEM—PURPOSES AND FUNCTIONS.
2005. 136 pp.
ANNUAL
PERCENTAGE
RATE
PUBLICATIONS
TABLES
(Truth
in
Lending—
Regulation Z) Vol. I (Regular Transactions). 1969. 100 pp.
Vol. II (Irregular Transactions). 1969. 116 pp. Each volume
$5.00.
ANNUAL REPORT, 2003.
ANNUAL REPORT: BUDGET REVIEW, 2004.
ANNUAL STATISTICAL DIGEST: period covered, release date, number of pages, and price.
1981
October 1982
239 pp.
$ 6.50
1982
December 1983
266 pp.
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1983
October 1984
264 pp.
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254 pp.
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1984
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1985
October 1986
231 pp.
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288 pp.
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1986
November 1987
272 pp.
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1987
October 1988
256 pp.
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1988
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1980-89
March 1991
712 pp.
$25.00
185 pp.
$25.00
1990
November 1991
215 pp.
$25.00
1991
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215 pp.
$25.00
281 pp.
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1993
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190 pp.
$25.00
1994
December 1995
1990-95
November 1996
404 pp.
$25.00
1996-2000
March 2002
352 pp.
$25.00
FEDERAL RESERVE BULLETIN. Quarterly. $10.00 per year or $2.50
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FEDERAL RESERVE REGULATORY SERVICE. Loose-leaf;
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Consumer and Community Affairs Handbook. $75.00 per year.
Monetary Policy and Reserve Requirements Handbook. $75.00
per year.
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Federal Reserve Regulatory Service. Four vols. (Contains all
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OF FUNDS ACCOUNTS. January
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1,186 pp. $20.00 each.
REGULATIONS OF THE BOARD OF GOVERNORS OF THE FEDERAL
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EDUCATION PAMPHLETS
Short pamphlets suitable for classroom use. Multiple copies are
available without charge.
A Consumer's Guide to Mortgage Lock-Ins
A Consumer's Guide to Mortgage Settlement Costs
A Consumer's Guide to Mortgage Refinancings
A Guide to Business Credit for Women, Minorities, and Small
Businesses
Choosing a Credit Card
Consumer Handbook on Adjustable Rate Mortgages (also available in Spanish)
Consumer Handbook to Credit Protection Laws
Home Mortgages: Understanding the Process and Your Right
to Fair Lending
How to File a Consumer Complaint about a Bank (also available
in Spanish)
In Plain English: Making Sense of the Federal Reserve
Keys to Vehicle Leasing (also available in Spanish)
Looking for the Best Mortgage (also available in Spanish)
Making Sense of Savings
Privacy Choices for Your Personal Financial Information
Protecting Yourself from Overdraft and Bounced-Check Fees
Putting Your Home on the Loan Line Is Risky Business (also
available in Spanish)
Series on the Structure of the Federal Reserve System
The Board of Governors of the Federal Reserve System
The Federal Open Market Committee
Federal Reserve Bank Board of Directors
Federal Reserve Banks
What You Should Know About Home Equity Lines of Credit
(also available in Spanish)
When Is Your Check Not a Check? (also available in Spanish)
71
STAFF STUDIES: Only Summaries Printed in the
BULLETIN
Studies and papers on economic and financial subjects that are of
general interest. Staff Studies 1-158, 161, 163, 165, 166, 168, and
169 are out of print, but photocopies of them are available. Staff
Studies 165—176 are available online at www.federalreserve.gov/
pubs/staffstudies. Requests to obtain single copies of any paper or
to be added to the mailing list for the series may be sent to
Publications Fulfillment.
170. THE COST OF IMPLEMENTING CONSUMER FINANCIAL REGULATIONS: A N ANALYSIS OF EXPERIENCE WITH THE TRUTH IN
SAVINGS ACT, by Gregory Elliehausen and Barbara R.
Lowrey. December 1997. 17 pp.
171. THE COST OF BANK REGULATION: A REVIEW OF THE EVI-
DENCE, by Gregory Elliehausen. April 1998. 35 pp.
172. USING SUBORDINATED DEBT AS AN INSTRUMENT OF MARKET
DISCIPLINE, by Study Group on Subordinated Notes
and Debentures, Federal Reserve System. December 1999.
69 pp.
173. IMPROVING PUBLIC DISCLOSURE IN BANKING, by Study
159. NEW DATA ON THE PERFORMANCE OF NONBANK SUBSIDIARIES OF BANK HOLDING COMPANIES, by Nellie Liang and
Donald Savage. February 1990. 12 pp.
174. BANK MERGERS AND BANKING STRUCTURE IN THE UNITED
160. BANKING MARKETS AND THE U S E OF FINANCIAL SERVICES BY SMALL AND MEDIUM-SIZED BUSINESSES, by
Gregory E. Elliehausen and John D. Wolken. September
1990. 35 pp.
162. EVIDENCE ON THE SIZE OF BANKING MARKETS FROM MORTGAGE LOAN RATES IN TWENTY CITIES, by Stephen A.
Rhoades. February 1992. 11 pp.
164. THE 1989-92
CREDIT CRUNCH
Group on Disclosure, Federal Reserve System. March 2000.
35 pp.
STATES, 1980-98, by Stephen Rhoades. August 2000. 33 pp.
175. THE FUTURE OF RETAIL ELECTRONIC PAYMENTS SYSTEMS:
INDUSTRY INTERVIEWS AND ANALYSIS, Federal Reserve Staff,
for the Payments System Development Committee, Federal
Reserve System. December 2002. 27 pp.
176. BANK MERGER ACTIVITY IN THE UNITED STATES, 1994-
2003, by Steven J. Pilloff. May 2004. 23 pp.
FOR REAL
ESTATE, by
James T. Fergus and John L. Goodman, Jr. July 1993.
20 pp.
167. A SUMMARY OF MERGER PERFORMANCE STUDIES IN BANKING, 1980-93, AND AN ASSESSMENT OF THE "OPERATING
PERFORMANCE" AND "EVENT STUDY" METHODOLOGIES, by
Stephen A. Rhoades. July 1994. 37 pp.
72
Federal Reserve Bulletin Statistical Supplement • May 2008
ANTICIPATED SCHEDULE OF RELEASE DATES FOR PERIODIC STATISTICAL RELEASES OF THE BOARD OF
GOVERNORS OF THE FEDERAL RESERVE SYSTEM
For ordering assistance, write PUBLICATIONS FULFILLMENT, MS-127, Board of Governors of the Federal Reserve
System, 20th Street and Constitution Ave., N.W., Washington, DC 20551, or telephone (202) 452-3244, or FAX (202)
728-5886. You may also use the publications order form available on the Board's website (www.federalreserve.gov). When a
charge is indicated, payment should accompany request and be made payable to the Board of Governors of the Federal
Reserve System or may be ordered via MasterCard, VISA, or American Express. Payment from foreign residents should be
drawn on a U.S. bank.
Release number and title
Annual
mail
rate
Annual
fax
rate
Approximate
release
days1
PprioH or HHTP to
which data refer
Corresponding
Bulletin or
Statistical
Supplement
table numbers2
Weekly Releases
Actions of the Board:
Applications and Reports
Received
H.3. Aggregate Reserves of
Depository Institutions and
the Monetary Base3
H.4.1. Factors Affecting Reserve Balances
of Depository Institutions and
Condition Statement of
Federal Reserve Banks3
H.6. Money Stock Measures3
$55.00
n.a.
Friday
$20.00
n.a.
Thursday
$20.00
n.a.
Thursday
$35.00
n.a.
Thursday
H.8.
Assets and Liabilities of
Commercial Banks in the
United States3
H.10. Foreign Exchange Rates3
$30.00
n.a.
Friday
$20.00
$20.00
Monday
H.15. Selected Interest Rates3
$20.00
$20.00
Monday
$ 5.00
$ 5.00
First of month
Previous month
G.15. Research Library—
Recent Acquisitions
G.17. Industrial Production and
Capacity Utilization3
No charge
n.a.
First of month
Previous month
$15.00
n.a.
Midmonth
Previous month
2.12,2.13
G.19. Consumer Credit3
$ 5.00
$ 5.00
$ 5.00
n.a.
Second month
previous
Second month
previous
1.55, 1.56
G.20. Finance Companies3
Fifth working day
of month
End of month
H.2.
Week ending
previous
Saturday
Week ending
previous
Wednesday
Week ending
previous
Wednesday
Week ending
Monday of
previous week
Week ending
previous
Wednesday
Week ending
previous
Friday
Week ending
previous
Friday
1.20
1.11, 1.18
1.21
1.26A-F
3.28
1.35
Monthly Releases
G.5.
Foreign Exchange Rates 3
3.28
1.51, 1.52
73
Annual
mail
rate
Release number and title
Annual
fax
rate
Approximate
release
days 1
Period or date to
which data refer
Corresponding
Bulletin or
Statistical
Supplement
table numbers 2
Quarterly Releases
E.2.
Survey of Terms of Business
Lending 3
E. 11.
Geographical Distribution of
sets and Liabilities of
Major Foreign Branches of
U.S. Banks
As-
5.00
Midmonth of
March, June,
September, and
December
February, May,
August, and
November
5.00
15th of March,
June,
September, and
December
Previous quarter
E.16. Country Exposure Lending
Survey 3
$ 5.00
January, April,
July, and
October
Previous quarter
Z.I.
$25.00
Second week of
March, June,
September, and
December
Previous quarter
Flow of Funds Accounts
of the United States:
Flows and Outstandings3
1. Please note that for some releases, there is normally a certain variability in the release date because of reporting or processing procedures.
Moreover, for all series unusual circumstances may, from time to time,
result in a release date being later than anticipated.
2. Beginning with the Winter 2004 issue (vol. 90, no. 1) of the Bulletin,
the corresponding table for the statistical release no longer appears in the
4.23
1.57, 1.58,
1.59, 1.60
Bulletin. Statistical tables are now published in the Statistical Supplement
to the Federal Reserve Bulletin; the table numbers, however, remain the
same.
3. These releases are also available on the Board's website,
www.federalreserve.gov/releases.
n.a. Not available.
74
Federal Reserve Bulletin Statistical Supplement • May 2008
Publications of Interest
FEDERAL RESERVE REGULATORY SERVICE
To promote public understanding of its regulatory functions, the Board publishes the Federal Reserve Regulatory Service, a four-volume loose-leaf service containing all Board regulations as well as related statutes,
interpretations, policy statements, rulings, and staff
opinions. For those with a more specialized interest in
the Board's regulations, parts of this service are published separately as handbooks pertaining to monetary
policy, securities credit, consumer affairs, and the payment system.
These publications are designed to help those who
must frequently refer to the Board's regulatory materials. They are updated monthly, and each contains citation indexes and a subject index.
The Monetary Policy and Reserve Requirements
Handbook contains Regulations A, D, and Q, plus
related materials.
The Securities Credit Transactions Handbook contains Regulations T, U, and X, which deal with extensions of credit for the purchase of securities, and related
statutes, Board interpretations, rulings, and staff opinions. Also included is the Board's list of foreign margin
stocks.
The Consumer and Community Affairs Handbook
contains Regulations B, C, E, G, M, P, Z, AA, BB, and
DD, and associated materials.
The Payment System Handbook deals with expedited
funds availability, check collection, wire transfers, and
risk-reduction policy. It includes Regulations CC, J, and
EE, related statutes and commentaries, and policy
statements on risk reduction in the payment system.
For domestic subscribers, the annual rate is $200 for
the Federal Reserve Regulatory Service and $75 for
each handbook. For subscribers outside the United
States, the price, which includes additional airmail costs,
is $250 for the service and $90 for each handbook.
The Federal Reserve Regulatory Service is also available on CD-ROM for use on personal computers. For a
standalone PC, the annual subscription fee is $300. For
network subscriptions, the annual fee is $300 for 1 concurrent user, $750 for a maximum of 10 concurrent
users, $2,000 for a maximum of 50 concurrent users,
and $3,000 for a maximum of 100 concurrent users.
Subscribers outside the United States should add $50
to cover additional airmail costs. For further information, call (202) 452-3244.
All subscription requests must be accompanied by a
check or money order payable to the Board of Governors of the Federal Reserve System. Orders should be
addressed to Publications Fulfillment, Mail Stop 127,
Board of Governors of the Federal Reserve System,
Washington, DC 20551.
GUIDE TO THE FLOW OF FUNDS ACCOUNTS
A new edition of Guide to the Flow of Funds Accounts
is now available from the Board of Governors. The new
edition incorporates changes to the accounts since the
initial edition was published in 1993. Like the earlier
publication, it explains the principles underlying the
flow of funds accounts and describes how the accounts
are constructed. It lists each flow series in the Board's
flow of funds publication, "Flow of Funds Accounts of
the United States" (the Z.I quarterly statistical release),
and describes how the series is derived from source
data. The Guide also explains the relationship between
the flow of funds accounts and the national income and
product accounts and discusses the analytical uses of
flow of funds data. The publication can be purchased,
for $20.00, from Publications Fulfillment, Mail Stop
127, Board of Governors of the Federal Reserve System, Washington, DC 20551.
75
Federal Reserve Statistical Releases
Available on the Commerce Department's
Economic Bulletin Board
The Board of Governors of the Federal Reserve Systern makes some of its statistical releases available to
the public through the U.S. Department of Commerce's economic bulletin board. Computer access
to the releases can be obtained by subscription.
For further information regarding a subscription to
the economic bulletin board, please call (202) 4821986. The releases transmitted to the economic bulletin board, on a regular basis, are the following:
Reference
Number
Statistical release
Frequency of release
H.3
Aggregate Reserves
Weekly/Thursday
H.4.1
Factors Affecting Reserve Balances
Weekly/Thursday
H.6
Money Stock
Weekly/Thursday
H.8
Assets and Liabilities of Insured Domestically Chartered
and Foreign Related Banking Institutions
Weekly/Monday
H.10
Foreign Exchange Rates
Weekly/Monday
H.15
Selected Interest Rates
Weekly/Monday
G.5
Foreign Exchange Rates
Monthly/end of month
G.17
Industrial Production and Capacity Utilization
Monthly/midmonth
G.19
Consumer Installment Credit
Monthly/fifth business day
Z.I
Flow of Funds
Quarterly
@FedFRASER