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Volume 3 • Number 10 D October 2006
Statistical Supplement
A to the Federal Reserve
S" BULLETIN
Board of Governors of the Federal Reserve System, Washington, D.C.
PUBLICATIONS COMMITTEE
Rosanna Pianalto Cameron, Chair • Scott G. Alvarez • Sandra Braunstein • Roger T. Cole
• Marianne M. Emerson • Jennifer J. Johnson • Karen H. Johnson • Stephen R. Malphrus
• Vincent R. Reinhart • Louise L. Roseman • David J. Stockton
The Statistical Supplement to the Federal Reserve Bulletin is issued monthly under the direction of the staff Publications Committee. It is assisted by the Economic
Editing Section, Division of Research and Statistics, and the Publications Department, Office of Board Members.
Preface
The Statistical Supplement to the Federal Reserve
Bulletin is a continuation of the Financial and Business Statistics section that appeared in each month's
issue of the Federal Reserve Bulletin (1914-2003).
The Statistical Supplement began publication in
2004. It is designed as a compact source of economic
and financial data. All statistical series are published
with the same frequency that they had in the Bulletin,
and the numbering system for the tables remains the
same.
Subscription information for the Statistical Supplement is on the inside front cover. For subscription
information about the Bulletin, contact Publications
Fulfillment at (202) 452-3245, or send an e-mail
to publications-bog@frb.gov. The Supplement is
also available on the Board's website, at
www.federalreserve.gov/pubs/supplement.
If you have questions regarding the tables in
the Statistical Supplement, please send a fax to
(202) 785-6092 or (202) 728-5886, or send an e-mail
to publications-bog@frb.gov.
Financial and Business Statistics:
Table of Contents
These tables reflect the data available as of the second
week of October 2006.
3 SYMBOLS AND ABBREVIATIONS
DOMESTIC FINANCIAL STATISTICS
Money Stock and Bank Credit
4 Reserves and money stock measures
5 Reserves of depository institutions and Reserve Bank
credit
6 Reserves and borrowings—Depository
institutions
Policy
Instruments
7 Federal Reserve Bank interest rates
8 Reserve requirements of depository institutions
9 Federal Reserve open market transactions
Federal Finance
25 Federal debt subject to statutory limitation
25 Gross public debt of U.S. TreasuryTypes and ownership
26 U.S. government securities
dealers—Tran saction s
27 U.S. government securities dealers—
Positions and financing
28 Federal and federally sponsored credit
agencies—Debt outstanding
Securities Markets and Corporate Finance
29 New security issues—Tax-exempt state and local
governments and U.S. corporations
30 Open-end investment companies—Net sales
and assets
30 Domestic finance companies—Assets and liabilities
31 Domestic finance companies—Owned and managed
receivables
Federal Reserve Banks
10 Condition and Federal Reserve note statements
11 Maturity distribution of loans and securities
Monetary and Credit Aggregates
Real Estate
32 Mortgage markets—New homes
33 Mortgage debt outstanding
12 Aggregate reserves of depository institutions
and monetary base
13 Money stock measures
Commercial Banking Institutions—
Assets and Liabilities
15
16
17
19
20
21
All commercial banks in the United States
Domestically chartered commercial banks
Large domestically chartered commercial banks
Small domestically chartered commercial banks
Foreign-related institutions
Memo items
Consumer Credit
34 Total outstanding
34 Terms
Flow of Funds
35
37
38
39
Funds raised in U.S. credit markets
Summary of financial transactions
Summary of credit market debt outstanding
Summary of financial assets and liabilities
Financial Markets
22 Commercial paper outstanding
22 Prime rate charged by banks on short-term
business loans
23 Interest rates—Money and capital markets
24 Stock market—Selected statistics
DOMESTIC NONFINANCIAL STATISTICS
Selected
Measures
40 Output, capacity, and capacity utilization
42 Industrial production—Indexes and gross value
2
Federal Reserve Bulletin Statistical Supplement • October 2006
INTERNATIONAL STATISTICS
Summary Statistics
44 U.S. international transactions
44 U.S. reserve assets
45 Foreign official assets held at Federal Reserve
Banks
45 Selected U.S. liabilities to foreign official
institutions
Reported by Banks in the United States
45
46
48
49
Liabilities to, and claims on, foreigners
Liabilities to foreigners
Banks' own claims on foreigners
Banks' own and domestic customers' claims on
foreigners
Reported by Nonbanking Business
Enterprises in the United States
50 Liabilities to foreigners
52 Claims on foreigners
Securities Holdings and Transactions
54 Foreign transactions in securities
55 Marketable U.S. Treasury bonds and
notes—Foreign transactions
Interest and Exchange Rates
56 Foreign exchange rates
5 7 GUIDE TO SPECIAL
TABLES
5 8 INDEX TO STATISTICAL
TABLES
60 FEDERAL RESERVE BOARD
PUBLICATIONS
62 ANTICIPATED SCHEDULE OF RELEASE DATES
PERIODIC STATISTICAL
RELEASES
6 4 PUBLICATIONS
FOR
OF INTEREST
65 FEDERAL RESERVE STATISTICAL
AVAILABLE ON THE COMMERCE
ECONOMIC BULLETIN
BOARD
RELEASES
DEPARTMENT'S
Symbols and Abbreviations
c
e
n.a.
n.e.c.
P
r
*
0
ABS
ATS
BIF
CD
CMO
CRA
FAMC
FFB
FFIEC
FHA
FHLBB
FHLMC
FmHA
FNMA
FSA
FSLIC
G-7
G-10
GDP
Corrected
Estimated
Not available
Not elsewhere classified
Preliminary
Revised (Notation appears in column heading
when about half the figures in the column have
been revised from the most recently published
table.)
Amount insignificant in terms of the last decimal
place shown in the table (for example, less than
500,000 when the smallest unit given is in millions)
Calculated to be zero
Cell not applicable
Asset-backed security
Automatic transfer service
Bank insurance fund
Certificate of deposit
Collateralized mortgage obligation
Community Reinvestment Act of 1977
Federal Agricultural Mortgage Corporation
Federal Financing Bank
Federal Financial Institutions Examination Council
Federal Housing Administration
Federal Home Loan Bank Board
Federal Home Loan Mortgage Corporation
Farmers Home Administration
Federal National Mortgage Association
Farm Service Agency
Federal Savings and Loan Insurance Corporation
Group of Seven
Group of Ten
Gross domestic product
GNMA
GSE
HUD
IBF
IMF
IOs
IPCs
IRA
MMDA
MSA
NAICS
NOW
OCDs
OPEC
OTS
PMI
POs
REIT
REMICs
RHS
RP
RTC
SCO
SDR
SIC
STRIPS
TIIS
TIPS
VA
Government National Mortgage Association
Government-sponsored enterprise
Department of Housing and Urban
Development
International banking facility
International Monetary Fund
Interest-only, stripped, mortgage-backed securities
Individuals, partnerships, and corporations
Individual retirement account
Money market deposit account
Metropolitan statistical area
North American Industry Classification System
Negotiable order of withdrawal
Other checkable deposits
Organization of Petroleum Exporting Countries
Office of Thrift Supervision
Private mortgage insurance
Principal-only, stripped, mortgage-backed securities
Real estate investment trust
Real estate mortgage investment conduits
Rural Housing Service
Repurchase agreement
Resolution Trust Corporation
Securitized credit obligation
Special drawing right
Standard Industrial Classification
Separate trading of registered interest and principal
of securities
See TIPS
Treasury inflation-protected securities (formerly
TIIS, or Treasury inflation-indexed securities)
Department of Veterans Affairs
GENERAL INFORMATION
In many of the tables, components do not sum to totals because of
rounding.
Minus signs are used to indicate (1) a decrease, (2) a negative
figure, or (3) an outflow.
"U.S. government securities" may include guaranteed issues
of U.S. government agencies (the flow of funds figures also
include not fully guaranteed issues) as well as direct obligations of the U.S. Treasury.
"State and local government" also includes municipalities,
special districts, and other political subdivisions.
4
Federal Reserve Bulletin Statistical Supplement • October 2006
1.10
RESERVES AND MONEY STOCK MEASURES
Percent annual rate of change, seasonally adjusted1
Monetary or credit aggregate
Q3
Q4
Q1
Q2'
-2.1'
-3.4'
-3.8'
3.7
-4.2'
-5.0'
-2.6'
4.2
-12.7'
-10.3'
-12.0'
6.1'
9.5
7.5
8.5
4.4
1.0'
4.6'
7.8
-.1'
5.0
9.3
6.3
n.a.
.9
3.0
n.a.
5.5
14.9
6.4
17.7
7.4'
n.a.
3.5
n.a.
4.9
20.3
12.3
7.0
6.8'
21.4
5.6
16.0'
n.a.
-.1
16.2
n.a.
-3.5
20.0
6.4
14.3
-10.6
13.0
21.0
33.1
-3.6'
30.5'
36.0
2.4
16.8'
n.a.
-7.3
18.9
n.a.
-11.5
18.9
-22.0
18.6
6.0
18.0
Money market mutual funds
16 Retail10
17 Institution-only
-.8
11.7'
5.0'
12.1
7.9'
9.1
11.7
11.5
13.0
7.5
6.2
14.6
12.1
15.6
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
22.5
11.5
22.3
7.9
1
2
3
4
Reserves of depository institutions2
Total
Required
Nonborrowed
Monetary base3
Concepts of money*
5 Ml
6 M2
7 M3
Nontransaction components
8 In M2S
9 In M3 only1"
Time and savings deposits
Commercial banks
Savings, including MMDAs . . .
Small time7
Large times>9
Thrift institutions
13
Savings, including MMDAs . . .
14
Small time7
15 Large times
10
11
12
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
1. Unless otherwise noted, rates of change are calculated from average amounts outstanding during the preceding month or quarter.
2. Figures incorporate adjustments for discontinuities, or "breaks," associated with regulatory changes in reserve requirements. (See also table 1.20.)
3. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all weekly reporters whose
vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted difference
between current vault cash and the amount applied to satisfy current reserve requirements.
4. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depository institutions: (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement accounts (IRA) and Keogh balances at depository institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted Ml.
n.a.
n.a.
n.a.
n.a.
Apr.'
May'
July
-12.6
-11.8
-15.8
3.9
24.9
16.6
22.8
4.3
11.6
12.9
13.7
6.7
9.9
10.7
7.8
-1.4
-32.0
-26.9
-34.8
-2.8
7.9
3.0
1.8
3.2
5.5
1.0
-19.6
5.2
2.6
3.7
n.a.
11.6
n.a.
4.0
n.a.
6.6
15.9
n.a.
-3.7
21.8
n.a.
19.7
n.a.
-8.8
26.8
n.a.
32.4
15.6
19.7
10.9
n.a.
n.a.
n.a.
n.a.
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depository institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the result to seasonally adjusted M2.
5. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances, each seasonally adjusted separately.
6. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted separately.
7. Small time deposits are those issued in amounts of less than $100,000. All IRA and
Keogh account balances at commercial banks and thrift institutions are subtracted from small
time deposits.
8. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
9. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
10. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Money Stock and Bank Credit
1.11
5
RESERVE BALANCES OF DEPOSITORY INSTITUTIONS'
Millions of dollars
Average of
daily figures
Average of daily figures for week ending on date indicated
July
June 14
June 21
June 28
July 5
July 12
July 19
July 26
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Reserve Bank credit outstanding
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans to depository institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
19
20
21
22
23
24
Currency in circulation
Reverse repurchase agreements'"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reserve Banks, other than
reserve balances
U.S. Treasury, general account
Foreign official
Service-related
Required clearing balances
Adjustments to compensate for float
Other
Other liabilities and capital
Reserve balances with Federal Reserve Banks7 . .
824,925
760,592
760,592
275,370
459,099
22,646
3,478
0
24,298
175
25
0
150
-473
40,333
11,041
2,200
37,961
826,822
765,491
765,491
275,370
463,812
22,646
3,664
0
21,225
257
15
0
242
-71
39,920
11,041
2,200
37,985
830,486
765,626
765,626
276,115
461,869
23,791
3,851
0
23,790
326
14
0
312
-276
41,021
11,041
2,200
38,008
824,742
765,286
765,286
275,370
463,640
22,646
3,630
0
19,714
231
14
0
217
-212
39,723
11,041
2,200
37,984
825,870
766,278
766,278
275,370
464,580
22,646
3,682
0
18,571
268
16
0
252
816
39,936
11,041
2,200
37,986
824,724
766,330
766,330
275,370
464,580
22,646
3,734
0
18,429
293
16
0
277
-627
40,300
11,041
2,200
37,988
836,182
766,371
766,371
275,370
464,580
22,646
3,775
0
29,464
291
15
0
276
-432
40,488
11,041
2,200
37,990
829,844
766,404
766,404
275,370
464,580
22,646
3,808
0
21,143
299
11
0
289
980
41,019
11,041
2,200
37,999
830,709
765,788
765,788
275,841
462,214
23,876
3,857
0
24,286
328
16
0
313
-626
40,933
11,041
2,200
38,008
825,898
764,752
764,752
277,019
459,061
24,783
3,889
0
20,536
350
15
0
334
-811
41,072
11,041
2,200
38,017
794,734
24,152
24,152
0
183
794,456
25,789
25,789
0
198
795,271
29,153
29,153
0
162
794,479
24,310
24,310
0
205
793,045
26,519
26,519
0
204
792,877
27,042
27,042
0
193
798,132
29,683
29,683
0
173
798,289
28,319
28,319
0
167
794,573
29,439
29,439
0
162
792,679
29,161
29,161
0
158
12,848
5,264
96
7,198
7,198
0
289
33,785
10,426
12,726
5,052
90
7,333
7,333
0
252
34,967
9,913
12,528
5,013
98
7,135
7,135
0
282
35,072
9,549
12,627
4,970
86
7,317
7,317
0
254
34,815
9,532
12,659
5,007
93
7,317
7,317
0
242
34,941
9,730
12,412
4,924
87
7,166
7,166
0
235
35,078
8,351
12,849
5,334
111
7,162
7,162
0
242
34,926
11,650
12,750
5,186
95
7,217
7,217
0
251
35,219
6,340
12,513
4,915
90
7,216
7,216
0
292
34,808
10,462
12,451
5,017
103
7,028
7,028
0
303
34,977
7,730
July 5
July 12
July 19
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
Wednesday figures
End-of-month figures
July
May
SUPPLYING RESERVE FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Reserve Bank credit outstanding
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans to depository institutions
Primary credit
Secondary credit
Seasonal credit
Float
Other Federal Reserve assets
Gold stock
Special drawing rights certificate account
Treasury currency outstanding
19
20
21
22
23
24
Currency in circulation
Reverse repurchase agreements'"
Foreign official and international accounts
Dealers
Treasury cash holdings
Deposits with Federal Reserve Banks, other than
reserve balances
U.S. Treasury, general account
Foreign official
Service-related
Required clearing balances
Adjustments to compensate for float
Other
Other liabilities and capital
Reserve balances with Federal Reserve Banks7 . .
833,635
762,411
762,411
275,370
460,850
22,646
3,545
0
30,750
207
20
0
187
1,020
39,247
11,041
2,200
37,980
837,243
766,364
766,364
275,370
464,580
22,646
3,768
0
31,250
291
11
0
280
-1,037
40,375
11,041
2,200
37,990
836,815
764,811
764,811
277,019
457,826
26,019
3,948
0
30,250
361
16
0
345
44
41,348
11,041
2,200
38,026
830,023
766,245
766,245
275,370
464,580
22,646
3,649
0
24,250
245
233
-616
39,900
11,041
2,200
37,984
828,981
766,297
766,297
275,370
464,580
22,646
3,701
0
22,250
271
11
0
260
-4
40,168
11,041
2,200
37,986
829,075
766,349
766,349
275,370
464,580
22,646
3,753
0
22,500
300
11
0
289
-485
40,411
11,041
2,200
37,988
836,954
766,385
766,385
275,370
464,580
22,646
3,789
0
28,250
282
6
0
276
1,470
40,567
11,041
2,200
37,990
828,698
766,414
766,414
275,370
464,580
22,646
3,819
0
20,750
355
52
0
304
86
41,092
11,041
2,200
37,999
834,431
764,731
764,731
277,019
459,061
24,783
3,869
0
29,000
343
23
0
321
-327
40,683
11,041
2,200
38,008
826,234
764,763
764,763
277,019
459,061
24,783
3,900
0
21,000
371
25
0
346
-1,095
41,195
11,041
2,200
38,017
799,103
24,603
24,603
0
196
797,157
29,164
29,164
0
174
792,624
29,933
29,933
0
148
795,164
26,002
26,002
0
205
794,000
25,677
25,677
0
196
795,419
30,400
30,400
0
174
800,662
29,086
29,086
0
167
797,781
28,538
28,538
0
163
794,557
29,587
29,587
0
160
793,762
28,468
28,468
0
148
10,545
2,637
86
7,580
7,580
0
242
34,508
15,903
13,055
5,525
142
7,162
7,162
0
226
34,886
14,038
11,981
4,546
88
7,028
7,028
0
320
35,688
17,708
12,111
4,468
84
7,317
7,317
0
242
34,546
13,219
13,026
5,385
87
7,317
7,317
0
238
34,812
12,496
12,366
4,879
90
7,166
7,166
0
231
34,641
7,304
13,037
5,528
90
7,162
7,162
0
258
34,629
10,602
12,607
5,024
89
7,217
7,217
0
277
34,565
6,283
12,870
5,272
88
7,216
7,216
0
294
34,368
14,136
12,275
4,824
140
7,028
7,028
0
283
34,751
8,088
ABSORBING RESERVE FUNDS
25
26
27
28
29
30
31
32
NOTE: Some of the data in this table appears in the Board's H.4.1 (503) weekly statistical
release, available at www.federalreserve.gov/releases.
1. Amounts of vault cash held as reserves are shown in table 1.12, line 2.
2. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury
securities.
3. Face value of the securities.
4. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
5. Cash value of agreements, which are fully collateralized by U.S. Treasury and federal
agency securities.
6. Cash value of agreements, which are fully collateralized by U.S. Treasury securities.
7. Excludes required clearing balances and adjustments to compensate for float.
6
Federal Reserve Bulletin Statistical Supplement • October 2006
1.12
RESERVES AND BORROWINGS
Depository Institutions1
Millions of dollars
Prorated monthly averages of biweekly averages
Reserve classification
1
2
3
4
5
6
7
8
9
10
11
Reserve balances with Reserve Banks2
Total vault cash3
Applied vault cash4
Surplus vault cash5
Total reserves'"
Required reserves
Excess reserve balances at Reserve Banks7
Total borrowing at Reserve Banks
Primary
Seasonal
2006
2003
2004
2005
Dec.
Dec.
Dec'
Jan.'
Feb.'
Mar.'
Apr.'
May'
June'
July
10.863
44,063
32,086
11,976
42,949
41,906
1,043
12.046
47,264
34,801
12,462
46,848
44,938
1,909
10.047
51,318
35,359
15,959
45,406
43,497
1,909
10.277
52,084
36,906
15,178
47,183
45,597
1,586
9.415
53,311
35,246
18,065
44,661
43,110
1,550
9.133
49,627
33,622
16,005
42,755
41,251
1,504
10.287
48,389
34,450
13,939
44,737
42,911
1,826
10,649
48,301
34,796
13,505
45,445
43,648
1,797
9,920
48,992
35,147
13,845
45,067
43,282
1,785
9,631
49,621
35,232
14,389
44,862
43,311
1,551
46
17
0
29
63
11
0
52
169
97
0
72
110
78
0
53
21
2
30
169
119
0
50
248
164
0
84
175
24
0
151
253
16
0
237
350
39
0
312
B weekly averages of daily figures for two-week periods ending on dates indicated
2006
1
2
3
4
5
6
7
8
9
10
11
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
Seasonal
Mar. 29'
Apr. 12'
Apr. 26'
May 10'
May 24
June 7'
June 21'
July 5'
July 19
Aug. 2
9,202
50,821
36,038
14,783
45,239
44,056
1,183
9,242
48,710
31,910
16,801
41,151
39,031
2,120
11,015
48,285
36,516
11,769
47,531
46,058
1,473
10,880
47,790
34,841
12,949
45,721
43,542
2,179
10,616
48,896
35,181
13,715
45,796
44,373
1,423
10,385
47,843
33,964
13,879
44,349
42,349
2,000
9,630
48,549
34,826
13,723
44,456
42,823
1,632
10,010
50,577
36,567
14,010
46,577
44,722
1,855
8,416
49,192
32,943
16,249
41,359
39,886
1,473
10,890
49,724
37,345
12,379
48,235
46,720
1,515
247
193
0
54
447
381
0
67
103
16
0
87
156
33
0
124
171
21
0
151
209
19
0
191
250
15
0
235
292
16
0
277
314
14
0
301
418
78
0
340
1. Data in this table also appear in the Board's H.3 (502) weekly statistical release,
available at www.federalreserve.gov/releases. Data are not break-adjusted or seasonally
adj usted.
2. Excludes required clearing balances and adjustments to compensate for float and
includes other off-balance-sheet "as-of' adjustments.
3. Vault cash eligible to satisfy reserve requirements. It includes only vault cash held by
those banks and thrift institutions that are not exempt from reserve requirements. Dates
refer to the maintenance periods in which the vault cash can be used to satisfy reserve
requirements.
4. All vault cash held during the lagged computation period by "bound" institutions (that
is, those whose required reserves exceed their vault cash) plus the amount of vault cash
applied during the maintenance period by "nonbound" institutions (that is, those whose vault
cash exceeds their required reserves) to satisfy current reserve requirements.
5. Total vault cash (line 2) less applied vault cash (line 3).
6. Reserve balances with Federal Reserve Banks (line 1) plus applied vault cash (line 3).
7. Total reserves (line 5) less required reserves (line 6).
Policy Instruments
1.14
1
FEDERAL RESERVE BANK INTEREST RATES
Percent per year
Current and previous levels
1
Secondary credit2
Primary credit
Federal Reserve
Bank
Boston
Vew York
Philadelphia
Cleveland
Richmond
Atlanta
On
10/20/06
Effective date
Previous rate
On
10/20/06
Effective date
Previous rate
On
10/20/06
Effective date
Previous rate
6.25
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.00
6.75
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6/29/06
6.50
5.30
8/17/06
5.35
i
"hicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
Seasona credit3
i
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
i
6.25
'
6.00
6.75
1
6/29/06
6/30/06
6/29/06
7/6/06
6/29/06
6/29/06
i
1
1
6.50
5.30
8/17/06
5.35
Range of rates for primary credit
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2.25
2.25
2003—June 25
26
2.00-2.25
2.00
2.00
2.00
2004—June 30
July 1
Aug. 10
11
Sept. 21
22
Nov. 10
12
Dec. 14
15
2.00-2.25
2.25
2.25-2.50
2.50
2.50-2.75
2.75
2.75-3.00
3.00
3.00-3.25
3.25
2.25
2.25
2.50
2.50
2.75
2.75
3.00
3.00
3.25
3.25
2005—Feb.
3.25-3.50
3.50
Effective date
In effect Jan. 9,2003
(beginning of program)
2
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2005—Feb. 3
Mar. 22
24
May 3
4
June 30
July 1
Aug. 9
10
Sept. 20
22
Nov. 1
2
Dec. 13
14
3.50
3.50-3.75
3.75
3.75^.00
4.00
4.00^.25
4.25
4.25^.50
4.50
4.50^.75
4.75
4.75-5.00
5.00
5.00-5.25
5.25
3.50
3.75
3.75
4.00
4.00
4.25
4.25
4.50
4.50
4.75
4.75
5.00
5.00
5.25
5.25
2006—Jan. 31
Feb. 2
5.25-5.50
5.50
5.50
5.50
Effective date
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.50-5.75
5.75
5.75-6.00
6.00
6.00-6.25
6.25
5.75
5.75
6.00
6.00
6.25
6.25
6.25
6.25
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
2001—June 27
29
Aug. 21
23
Sept. 17
18
Oct. 2
4
Nov. 6
8
Dec. 11
13
3.25-3.50
3.25
3.00-3.25
3.00
2.50-3.00
2.50
2.00-2.50
2.00
1.50-2.00
1.50
1.25-1.50
1.25
3.25
3.25
3.00
3.00
2.50
2.50
2.00
2.00
1.50
1.50
1.25
1.25
2002—Nov. 6
7
0.75-1.25
0.75
0.75
0.75
0.75
0.75
Effective date
2006—Mar. 28
30
May 10
11
June 29
July 6
In effect October 20, 2006
Range of rates for adjustment credit in recent years4
Effective date
In effect Dec. 31, 1995
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.25
5.25
1996—Jan. 31
Feb. 3
5.00-5.25
5.00
5.00
5.00
1998—Oct. 15
16
Nov. 17
19
4.75-5.00
4.75
4.50-4.75
4.50
4.75
4.75
4.50
4.50
1999—Aug. 24
26
Nov. 16
18
4.50-4.75
4.75
4.75-5.00
5.00
4.75
4.75
4.75
5.00
Effective date
2000—Feb.
2
4
Mar. 21
23
May 16
19
2001—Jan.
Feb.
Mar.
Apr.
May
3
4
5
31
1
20
21
18
20
15
17
1. Available for very short terms as a backup source of liquidity to depository institutions
that are in generally sound financial condition in the judgment of the lending Federal Reserve
Bank.
2. Available in appropriate circumstances to depository institutions that do not qualify for
primary credit.
3. Available to help relatively small depository institutions meet regular seasonal needs for
funds that arise from a clear pattern of intrayearly movements in their deposits and loans. The
discount rate on seasonal credit takes into account rates charged on market sources of funds
Range(or
level)—All
F.R. Banks
F.R. Bank
of
N.Y.
5.00-5.25
5.25
5.25-5.50
5.50
5.50-6.00
6.00
5.25
5.25
5.50
5.50
5.50
6.00
5.75-6.00
5.50-5.75
5.50
5.00-5.50
5.00
4.50-5.00
4.50
4.00^.50
4.00
3.50^.00
3.50
5.75
5.50
5.50
5.00
5.00
4.50
4.50
4.00
4.00
3.50
3.50
Effective date
In effect Jan. 8, 2003
(end of program)
and ordinarily is reestablished on the first business day of each two-week reserve maintenance
period.
4. Was available until January 8, 2003, to help depository institutions meet temporary
needs for funds that could not be met through reasonable alternative sources. For earlier data,
see the following publications of the Board of Governors: Banking and Monetary Statistics,
1914-1941, and 1941-1970; the Annual Statistical Digest, 1970-1979, 1980-1989, and
1990-1995; and the Statistical Digest, 1996-2000. See also the Board's Statistics: Releases
and Historical Data webpages www.federalreserve.gov/releases/H15/data.htm.
8
1.15
Federal Reserve Bulletin Statistical Supplement • October 2006
RESERVE REQUIREMENTS OF DEPOSITORY INSTITUTIONS
Requirement
Type of liability
Net transaction accounts^
1 $0 million-$7.8 million2
2 More than $7.8 million-$48.3 million3
3 More than $48.3 million
Percentage of
liabilities
0
10
4 Nonpersonal time deposits
0
5 Eurocurrency liabilities
0
NOTE: Required reserves must be held in the form of vault cash and, if vault cash is
insufficient, also in the form of a deposit with a Federal Reserve Bank. An institution that is a
member of the Federal Reserve System must hold that deposit directly with a Reserve Bank;
an institution that is not a member of the System can maintain that deposit directly with a
Reserve Bank or with another institution in a pass-through relationship. Reserve requirements
are imposed on commercial banks, savings banks, savings and loan associations, credit
unions, U.S. branches and agencies of foreign banks, Edge Act corporations, and agreement
corporations.
1. Total transaction accounts consist of demand deposits, automatic transfer service (ATS)
accounts, NOW accounts, share draft accounts, telephone or preauthorized transfer accounts,
ineligible acceptances, and obligations issued by affiliates maturing in seven days or less. Net
transaction accounts are total transaction accounts less amounts due from other depository
institutions and less cash items in the process of collection.
Effective date
12/22/05
12/22/05
12/22/05
For a more detailed description of these deposit types, see Form FR 2900 at
www.federalreserve.gov/boarddocs/reportforms.
2. The amount of net transaction accounts subject to a reserve requirement ratio of zero
percent (the "exemption amount" ) is adjusted each year by statute. The exemption amount is
adjusted upward by 80 percent of the previous year's (June 30 to June 30) rate of increase in
total reservable liabilities at all depository institutions. No adjustment is made in the event of
a decrease in such liabilities.
3. The amount of net transaction accounts subject to a reserve requirement ratio of 3
percent is the "low reserve tranche." By statute, the upper limit of the low reserve tranche is
adjusted each year by 80 percent of the previous year's (June 30 to June 30) rate of increase or
decrease in net transaction accounts held by all depository institutions.
Policy Instruments
1.17
9
FEDERAL RESERVE OPEN MARKET TRANSACTIONS1
Millions of dollars
Type of transaction
and maturity
Apr.
May
0
0
64,886
64,886
0
0
0
75,196
75,196
0
95,728
95,728
U.S. TREASURY SECURITIES2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Outright transactions
Treasury bills
Gross purchases
Gross sales
Exchanges
For new bills
Redemptions
Others within one year
Gross purchases
Gross sales
Maturity shifts
Exchanges
Redemptions
One to five years
Gross purchases
Gross sales
Maturity shifts
Exchanges
Five to ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
More than ten years
Gross purchases
Gross sales
Maturity shifts
Exchanges
All maturities
Gross purchases
Gross sales
Redemptions
26 Net change in U.S. Treasury securities . . .
18,150
0
738.886
738,886
0
821,685
821,685
8,300
0
871,661
871,661
0
6,565
0
96,433
-103,153
0
7,994
0
103,380
-118,373
7,814
0
-76,364
97,256
0
0
80,886
67,302
67,302
1,308
0
68,077
68,077
0
2,894
0
109,557
-108,098
2,795
0
13,599
-13,594
1,321
1,200
0
11,858
-10,989
0
0
8,000
-8,334
0
0
0
-834
0
1,375
0
24,441
-15,746
1,217
0
6,667
-7,997
17,249
0
-84,844
110,819
11,309
0
-91,121
97,723
2,809
0
-13,599
11,830
2,498
0
-4,775
9,306
2,136
0
-4,500
8,334
1,096
0
0
834
2,317
0
-21,298
13,452
2,650
0
-3,167
7,997
4,107
0
-11,131
5,897
5,763
0
-8,012
7,554
3,626
0
-7,041
7,375
1,505
0
0
0
25
0
-5,205
841
174
0
-3,500
0
0
0
0
0
101
0
949
2,294
1,080
0
-3,500
0
220
0
-8,938
0
1,364
0
-10,524
2,007
0
-11,395
3,000
205
0
0
1,765
924
0
-1,878
841
90
0
0
0
0
0
0
0
0
-4,092
0
0
0
0
36,856
0
0
50,507
0
28,136
0
2,795
6,082
0
1,321
5,955
0
0
3,628
0
1,096
0
0
3,793
0
1,217
3,730
0
36,856
50,507
1,522,888
1,518,638
1,887,650
2,083,300
223,000
211,500
185,750
206,750
157,000
151,250
204,250
209,000
163,750
166,250
200,750
194,250
182,000
181,500
4,942,131
4,946,691
5,621,153
5,626,285
6,421,223
6,420,945
581,376
581,826
504,837
498,351
445,563
446,346
558,568
560,306
488,091
485,659
531,844
532,338
567,926
572,488
-310
-15,882
14,028
11,050
-14,514
4,967
-6,488
-68
6,006
-4,061
36,536
34,626
39,369
11,050
-9,752
10,922
-2,860
1,028
8,582
-331
79,509
79,509
3,628
3,730
FEDERAL AGENCY OBLIGATIONS
Outright transactions
Gross purchases
Gross sales
Redemptions
Net change in federal agency obligations . . .
TEMPORARY TRANSACTIONS
Repurchase agreements3
Gross purchases
Gross sales
Matched sale-purchase agreements
33 Gross purchases
34 Gross sales
Reverse repurchase agreements*
35 Gross purchases
36 Gross sales
37 Net change in temporary transactions
38 Total net change in System Open Market Account
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 • October 2006
FEDERAL RESERVE BANKS
Condition and Federal Reserve Note Statements'
Millions of dollars
Wednesday
July 5
July 12
July 19
July 26
May
July
Consolidated condition statement
ASSETS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
Gold certificate account
Special drawing rights certificate account
Coin
Securities, repurchase agreements, and loans
Securities held outright
U.S. Treasury2
Bills3
Notes and bonds, nominal3
Notes and bonds, inflation-indexed3
Inflation compensation4
Federal agency3
Repurchase agreements5
Loans
Items in process of collection
Bank premises
Other assets
Denominated in foreign currencies'"
All other7
19 Total assets
11,037
2,200
720
789,149
766,349
766,349
275,370
464,580
22,646
3 753
0
22,500
300
4,624
1,855
38,314
19,826
18,488
11,037
2,200
696
794,917
766,385
766,385
275,370
464,580
22,646
3 789
0
28,250
282
5,979
1,857
38,463
20,068
18,395
11,037
2,200
711
787,520
766,414
766,414
275,370
464,580
22,646
3,819
0
20,750
355
5,559
1,858
39,001
20,074
18,928
11,037
2,200
736
794,075
764,731
764,731
277,019
459,061
24,783
3,869
0
29,000
343
4,928
1,860
38,610
19,827
18,783
11,037
2,200
750
786,134
764,763
764,763
277,019
459,061
24,783
3,900
0
21,000
371
4,030
1,864
39,086
19,914
19,172
11,037
2,200
716
793,368
762,411
762,411
275,370
460,850
22,646
3,545
0
30,750
207
8,412
1,837
37,314
20,381
16,934
11,037
2,200
724
797,905
766,364
766,364
275,370
464,580
22,646
3,768
0
31,250
291
3,234
1,856
38,277
20,194
18,083
11,037
2,200
765
795,422
764,811
764,811
277,019
457,826
26,019
3 948
0
30,250
361
2,615
1,870
39,233
20,217
19,016
847,898
855,149
847,886
853,445
845,101
854,883
855,233
853,143
758,321
30,400
19,439
14,239
4,879
90
231
5,097
5,179
763,532
29,086
23,397
17,521
5,528
90
258
4,505
4,727
760,652
28,538
18,658
13,269
5,024
89
277
5,472
4,789
757,441
29,587
26,795
21,141
5,272
88
294
5,254
4,816
756,639
28,468
20,121
14,874
4,824
140
283
5,122
4,866
762,030
24,603
26,360
23,395
2,637
86
242
7,383
4,888
760,061
29,164
26,855
20,963
5,525
142
226
4,266
4,885
755,507
29,933
29,448
24,494
4,546
818,436
825,247
818,110
823,893
815,217
825,264
825,232
822,502
14,968
12,901
1,593
14,975
12,901
2,026
14,977
12,901
1,898
14,986
12,901
1,665
14,993
12,901
1,990
14,956
12,901
1,762
14,970
12,901
2,130
14,996
12,901
2,743
29,462
29,902
29,884
29,619
1,639,280
1,118,893
520,387
3,869
1,637,480
1,119,882
517,598
5,613
1,651,103
1,117,017
534,086
1,539
1,619,796
1,115,371
504,425
4,426
LIABILITIES
20
21
22
23
24
25
26
27
28
Federal Reserve notes, net of F.R. Bank holdings
Reverse repurchase agreements5
Deposits
Depository institutions
U.S. Treasury, general account
Foreign official
Other
Deferred availability cash items
Other liabilities and accrued dividends9
29 Total liabilities
2,567
5,047
CAPITAL ACCOUNTS
30 Capital paid in
31 Surplus
32 Other capital accounts
30,641
33 Total capital
MEMO
34 Marketable securities held in custody for foreign official
and international accounts3'10
35
U.S. Treasury
36
Federal agency
37 Securities lent to dealers
1,630,836
1,111,089
519,747
922
1,636,295
1,111,052
525,243
2,214
1,634,581
1,116,162
518,419
7,849
1,655,927
1,122,775
533,152
3,271
Federal Reserve notes and collateral statement
38 Federal Reserve notes outstanding
39
Less: Notes held by F.R. Banks not
subject to collateralization
40
Federal Reserve notes to be collateralized
41 Collateral held against Federal Reserve notes
42
Gold certificate account
43
Special drawing rights certificate account
44
U.S. Treasury and agency securities pledged1'
45
Other assets pledged
928,954
929,257
929,853
930,478
930,576
924,207
929,585
931,414
170,633
758,321
758,321
11,037
2,200
745,084
0
165,725
763,532
763,532
11,037
2,200
750,295
0
169,201
760,652
760,652
11,037
2,200
747,415
0
173,037
757,441
757,441
11,037
2,200
744,204
0
173,937
756,639
756,639
11,037
2,200
743,402
0
162,177
762,030
762,030
11,037
2,200
748,793
0
169,524
760,061
760,061
11,037
2,200
746,824
0
175,908
755,507
755,507
11,037
2,200
742,270
0
788,849
794,635
787,164
793,731
785,763
793,161
797,614
795,061
30,442
29,126
28,577
29,630
28,509
24,633
29,221
29,998
758,407
765,509
758,587
764,101
757,254
768,528
768,392
765,063
MEMO
46 Total U.S. Treasury and agency securities''
47
Less: face value of securities under reverse repurchase
agreements12
48
U.S. Treasury and agency securities
eligible to be pledged
1. Some of the data in this table also appear in the Board's H.4.1 (503) weekly statistical
release, which is available at www.federalreserve.gov/releases.
2. Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury
securities.
3. Face value of the securities.
4. Compensation that adjusts for the effect of inflation on the original face value of
inflation-indexed securities.
5. Cash value of agreements, which are fully collateralized by U.S. Treasury and federal
agency securities.
6. Valued daily at market exchange rates.
7. Includes special investment account at the Federal Reserve Bank of Chicago in Treasury
bills maturing within ninety days.
8. Cash value of agreements, which are fully collateralized by U.S. Treasury securities.
9. Includes exchange-translation account reflecting the daily revaluation at market
exchange rates of foreign exchange commitments.
10. Includes U.S. Treasury STRIPS and other zero coupon bonds at face value.
11. Includes face value of U.S. Treasury and agency securities held outright, compensation
to adjust for the effect of inflation on the original face value of inflation-indexed securities,
and cash value of repurchase agreements.
12. Face value of agreements, which are fully collateralized by U.S. Treasury securities.
Federal Reserve Banks
1.19
FEDERAL RESERVE BANKS
11
Maturity Distribution of Loans and Securities
Millions of dollars
Wednesday
Type of holding and maturity
July 5
July 12
July 19
July 26
May
July
1 Total loans
276
25
0
47
235
0
97
258
323
20
334
37
0
171
36
217
74
249
112
0
766,349
766,385
766,414
764,731
764,763
762,411
766,364
764,811
61,309
172,967
177,003
215,982
60,712
78,375
58,899
174,987
176,068
217,323
60,717
78,392
58,461
174,817
176,677
217,332
60,722
78,406
62,077
170,021
174,965
217,908
61,341
78,419
62,066
169,303
175,697
217,918
61,347
78,433
58,534
164,445
188,284
213,268
59,600
78,280
41,004
184,882
184,065
217,316
60,714
78,382
41,516
180,436
183,241
218,565
61,351
79,703
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19 Total repurchase agreements2
22,500
28,250
20,750
29,000
21,000
30,750
31,250
30,250
20 Within 15 days
22,500
0
28,250
0
20,750
0
29,000
0
21,000
0
30,750
0
31,250
0
30,250
0
28,538
29,587
28,538
0
29,587
0
28,468
0
24,603
0
2 Within 15 days
3 16 days to 90 days
4 91 days to 1 year
5 Total U.S. Treasury securities'
6
7
8
9
10
11
Within 15 days
16 days to 90 days
91 days to 1 year
Over 1 year to 5 years
Over 5 years to 10 years
Over 10 years
12 Total federal agency securities
13
14
15
16
17
18
Within 15 days
16 days to 90 days
91 days to 1 year
Over 1 year to 5 years
Over 5 years to 10 years
Over 10 years
21 16 days to 90 days
22 Total reverse repurchase agreements"
30,400
30,400
29,086
0
23 Within 15 days
24 16 days to 90 days
NOTE: Components may not sum to totals because of rounding.
1. Includes the original face value of inflation-indexed securities and compensation that
adjusts for the effect of inflation on the original face value of such securities.
29,164
29,164
0
29,933
0
2. Cash value of agreements classified by remaining maturity of the agreements.
12
Federal Reserve Bulletin Statistical Supplement • October 2006
1.20
AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE1
Billions of dollars, averages of daily figures
2005
2002
Dec.
2003
Dec.
2004
Dec.
2005
Dec.
Apr.'
July
Seasonally adjusted
ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS2
1
2
3
4
Total reserves3
Nonborrowed reserves4
Required reserves
Monetary base5
40.36
40.28
38.35
681.46
42.70
42.65
41.66
720.13
46.63
46.56
44.72
758.99
45.31
45.14
43.40
787.09
45.31
45.14
43.40
787.09
44.05'
43.94'
42.46
791.98
44.17
44.11
42.62
796.56
43.70
43.53
42.20
799.14
44.61
44.36
42.78
801.98
45.04
44.87
43.24
806.47
45.41
45.16
43.63
805.53
44.20
43.85
42.65
803.68
Not seasonally adjusted
5
6
7
8
Total reserves'"
Nonborrowed reserves .
Required reserves7 . . . .
Monetary bases
40.13
40.05
38.12
686.23
42.45
42.41
41.41
725.21
46.52
46.46
44.61
764.66
45.16
44.99
43.25
793.38
45.16
44.99
43.25
793.38
47.11
47.00
45.53'
795.22
44.67
44.62
43.12
796.17
42.78
42.61
41.27
798.22
44.76
44.51
42.94
800.90
45.47
45.29
43.67
804.71
45.10
44.85
43.31
804.91
44.90
44.55
43.35
804.65
40.27
40.19
38.26
697.15
2.01
.08
42.95
42.90
41.91
737.62
1.04
.05
46.85
46.79
44.94
774.77
1.91
.06
45.41'
45.24'
43.50'
802.31'
1.91
.17
45.41'
45.24'
43.50'
802.31'
1.91
.17
47.18
47.07
45.60'
804.30'
1.59
.11
44.66
44.61
43.11
804.43
1.55
.05
42.76
42.59
41.25
806.25
1.50
.17
44.74
44.49
42.91
808.43
1.83
.25
45.45
45.27
43.65
811.90
1.80
.18
45.07
44.81
43.28
812.23
1.79
.25
44.86
44.51
43.31
811.77
1.55
.35
NOT ADJUSTED FOR
CHANGES IN RESERVE REQUIREMENTS9
9
10
11
12
13
14
Total reserves10
Nonborrowed reserves
Required reserves
Monetary base1'
Excess reserves'2
Borrowings from the Federal Reserve
1. Latest monthly and biweekly figures are available from the Board's H.3 (502) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 and estimates of the effect on required reserves of changes in reserve requirements are
available from the Monetary and Reserve Analysis Section, Division of Monetary Affairs,
Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Figures reflect adjustments for discontinuities, or "breaks," associated with regulatory
changes in reserve requirements. (See also table 1.10.)
3. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, breakadjusted required reserves (line 3) plus excess reserves (line 13).
4. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted,
break-adjusted total reserves (line 1) less total borrowings of depository institutions from the
Federal Reserve (line 14).
5. The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally
adjusted, break-adjusted total reserves (line 1), plus (2) the seasonally adjusted currency
component of the money stock, plus (3) (for all quarterly reporters on the "Report of
Transaction Accounts, Other Deposits and Vault Cash" and for all those weekly reporters
whose vault cash exceeds their required reserves) the seasonally adjusted, break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
6. Break-adjusted total reserves equal break-adjusted required reserves (line 7) plus excess
reserves (line 13).
7. To adjust required reserves for discontinuities that are due to regulatory changes in
reserve requirements, a multiplicative procedure is used to estimate what required reserves
would have been in past periods had current reserve requirements been in effect. Breakadjusted required reserves include required reserves against transactions deposits and nonpersonal time and savings deposits (but not reservable nondeposit liabilities).
8. The break-adjusted monetary base equals (1) break-adjusted total reserves (line 5), plus
(2) the (unadjusted) currency component of the money stock, plus (3) (for all quarterly
reporters on the "Report of Transaction Accounts, Other Deposits and Vault Cash" and for all
those weekly reporters whose vault cash exceeds their required reserves) the break-adjusted
difference between current vault cash and the amount applied to satisfy current reserve
requirements.
9. Reflects actual reserve requirements, including those on nondeposit liabilities, with no
adjustments to eliminate the effects of discontinuities associated with regulatory changes in
reserve requirements.
10. Reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve
requirements.
11. The monetary base, not break-adjusted and not seasonally adjusted, consists of (1) total
reserves (line 9), plus (2) required clearing balances and adjustments to compensate for float
at Federal Reserve Banks, plus (3) the currency component of the money stock, plus (4) (for
all quarterly reporters on the "Report of Transaction Accounts, Other Deposits and Vault
Cash" and for all those weekly reporters whose vault cash exceeds their required reserves) the
difference between current vault cash and the amount applied to satisfy current reserve
requirements. Since February 1984, currency and vault cash figures have been measured over
the computation periods ending on Mondays.
12. Unadjusted total reserves (line 9) less unadjusted required reserves (line 11).
Monetary and Credit Aggregates
1.21
MONEY STOCK MEASURES1
Billions of dollars, averages of daily figures
2002
Dec.
2003
Dec.
2004
Dec.
2005
Dec/
Apr.1
Mayr
July
Seasonally adjusted
Measures2
1 Ml
2 M2
3 M3
1,219.0
5,773.6'
8,568.0
1,304.1'
6,059.4'
8,872.3
1,372.1'
6,408.1'
9,433.0
1,368.5
6,664.8
10,154.0
1,386.7
6,781.9
n.a.
1,393.1
6,787.8
n .a.
1,370.4
6,817.3
n.a.
1,373.4
6,838.6
n.a.
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
626.2
7.8
306.0
279.1
662.3
7.7
324.5'
309.5
697.3
7.6
340.2'
327.1
723.4
7.3
320.5
317.3
739.0
6.8
322.5
318.3
742.6
6.9
326.4
317.2
740.8
7.0
312.4
310.2
740.2
6.8
318.8
307.7
Nontransaction components
8 In M27
9 In M3 onlys
4.554.6'
2,767.4
4.755.4'
2,792.7
5.035.9'
3,011.1
5.296.3
3,478.5
5.395.2
n.a.
5.394.7
n .a.
5.447.0
n.a.
5.465.2
n.a.
Commercial banks
10 Savings deposits, including MMDAs . . .
11 Small time deposits9
12 Large time deposits10-"
2,060.9
590.1
698.2
2,337.8'
536.4
764.5
2,632.0
545.1
909.3
2,771.7
633.9
1,122.9
2.799.5
671.8
n.a.
2.774.8
679.1
n .a.
2.790.0
688.1
n.a.
2.781.3
700.6
n.a.
Thrift institutions
13 Savings deposits, including MMDAs . . .
14 Small time deposits9
15 Large time deposits10
717.9
302.4
117.5
831.5
273.4
120.7
887.5
271.8
161.5
850.0
339.8
230.7
840.3
360.8
n.a.
844.5
366.2
n .a.
846.8
372.2
n.a.
840.6
380.5
n.a.
883.3'
1.256.1'
776.2'
1.123.1'
699.5'
1.073.9'
701.0
1.142.4
722.8
1.175.3
730.1
1.190.6
749.8
1.206.1
762.1
1.217.1
473.4
230.7
494.8
295.3
492.6
379.1
564.3
423.9
n.a.
n.a.
n .a.
n .a.
n.a.
n.a.
n.a.
n.a.
4
5
6
7
Money market mutual funds
16 Retail12
17 Institution-only
Repurchase agreements and Eurodollars
18 Repurchase agreements
19 Eurodollars
Not seasonally adjusted
Measures2
20 Ml
21 M2
22 M3
1.245.0
5,805.1'
8,633.5
1.332.0'
6,091.7'
8,927.8
1.401.3'
6,442.9'
9,482.2
1.396.5
6,702.3
10,201.4
1.392.8
6,828.4
1,391.3
6,765.9
n.a.
1.378.0
6,819.7
n.a.
1,367.1
6,839.3
Ml components
Currency3
Travelers checks4
Demand deposits5
Other checkable deposits6
630.3
7.7
323.3
283.8
666.7
7.6
342.6'
315.0
702.4
7.5
358.7'
332.7
728.9
7.2
337.7
322.7
738.7
6.8
320.6
326.7
741.9
6.9
325.3
317.2
741.1
7.0
318.0
311.9
741.1
7.0
313.0
306.0
Nontransaction components
27 In M27
28 In M3 onlys
4.560.1'
2,801.3
4.759.8'
2,815.9
5.041.6'
3,025.4
5.305.8
3,488.3
5.435.6
5.374.6
n.a.
Commercial banks
29 Savings deposits, including MMDAs . . .
30 Small time deposits9
31 Large time deposits10-"
2,061.6
590.2
697.4
2,337.9
536.2
760.9
2,633.3
544.8
903.3
2,776.0
633.3
1,114.4
2.828.1
672.1
2.761.9
679.7
2.789.0
688.7
n.a.
2.790.3
701.2
Thrift institutions
32 Savings deposits, including MMDAs . . .
33 Small time deposits9
34 Large time deposits10
718.2
302.4
117.3
831.5
273.4'
120.1
887.9
271.6
160.4
851.3
339.5
228.9
848.9
361.0
840.6
366.5
n.a.
846.5
372.6
843.3
380.8
887.7'
1,289.8'
780.8'
1,150.1'
704.1'
1,095.8'
705.7
1,162.6
725.5
1,164.8
726.0
1,172.5
744.9
1,196.2
756.6
1,205.9
476.4
228.8
497.6
292.8
494.6
376.6
566.1
422.0
23
24
25
26
Money market mutual funds
35 Retail12
36 Institution-only
Repurchase agreements and Eurodollars
37 Repurchase agreements
38 Eurodollars
Footnotes appeal on following page.
n.a.
n.a.
5.472.2
13
14
Federal Reserve Bulletin Statistical Supplement • October 2006
NOTES TO TABLE 1.21
NOTE: In March 2006, the Board ceased publication of the M3 monetary aggregate and all
the components of non-M2 M3 (large time deposits, repurchase agreements, and Eurodollars)
except for institutional money funds. Measures of large time deposits will continue to be
published by the Board in the Flow of Funds Accounts (Z.I release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
1. Latest monthly and weekly figures are available from the Board's H.6 (508) weekly
statistical release, available at www.federalreserve.gov/releases. Historical data starting in
1959 are available from the Money and Reserves Projections Section, Division of Monetary
Affairs, Board of Governors of the Federal Reserve System, Washington, DC 20551.
2. Composition of the money stock measures is as follows:
Ml consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the
vaults of depository institutions; (2) travelers checks ofnonbank issuers; (3) demand deposits
at commercial banks (excluding those amounts held by depository institutions, the U.S.
government, and foreign banks and official institutions) less cash items in the process of
collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of
negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at
depository institutions, credit union share draft accounts, and demand deposits at thrift
institutions. Seasonally adjusted Ml is constructed by summing currency, travelers checks,
demand deposits, and OCDs, each seasonally adjusted separately.
M2 consists of Ml plus (1) savings deposits (including money market deposit accounts);
(2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement account (IRA) and Keogh balances at depository institutions; and (3)
balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted
separately, and adding this result to seasonally adjusted Ml.
M3 consists of M2 plus (1) balances in institutional money market mutual funds; (2)
large-denomination time deposits (time deposits in amounts of $100,000 or more); (3)
repurchase agreement (RP) liabilities of depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars held by U.S.
addressees at foreign branches of U.S. banks worldwide and at all banking offices in the
United Kingdom and Canada. Large-denomination time deposits, RPs, and Eurodollars
exclude those amounts held by depository institutions, the U.S. government, foreign banks
and official institutions, and money market funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination time deposits, RPs, and Eurodollars,
each seasonally adjusted separately, and adding the result to seasonally adjusted M2.
3. Currency outside the U.S. Treasury, Federal Reserve Banks, and vaults of depository
institutions.
4. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers.
Travelers checks issued by depository institutions are included in demand deposits.
5. Demand deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations (excluding those amounts held by
depository institutions, the U.S. government, and foreign banks and official institutions) less
cash items in the process of collection and Federal Reserve float.
6. Consists of NOW and ATS account balances at all depository institutions, credit union
share draft account balances, and demand deposits at thrift institutions.
7. Sum of (1) savings deposits (including MMDAs), (2) small time deposits, and (3) retail
money fund balances.
8. Sum of (1) large time deposits, (2) institution-only money fund balances, (3) RPs, and
(4) Eurodollars, each seasonally adjusted.
9. Small time deposits are those issued in amounts of less than $100,000. All IRAs and
Keogh accounts at commercial banks and thrift institutions are subtracted from small time
deposits.
10. Large time deposits are those issued in amounts of $100,000 or more, excluding those
booked at international banking facilities.
11. Large time deposits at domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations, excluding those amounts held by
depository institutions, the U.S. government, foreign banks and official institutions, and
money market mutual funds.
12. IRA and Keogh account balances at money market mutual funds are subtracted from
retail money funds.
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
A. All commercial banks
15
Assets and Liabilities'
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Sept.
2006
2006
2005
Mar.
Apr.
May
June'
July'
Aug.'
Sept.
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
7,410.1'
2,078.1
1,167.4
910.7
5,332.0'
1,016.5'
2,841.8'
443.0
2,398.8'
720.2
246.7
506.7
289.4
327.7
699.7
7,713.1'
2,115.1'
1,185.9
929.2'
5,598.0'
1,080.6'
2,989.1'
449.9
2,539.2'
722.3
269.3
536.7'
300.5
317.8
753.2
7,804.2
2,167.6'
1,196.9
970.6'
5,636.6'
1,097.6'
3,013.8'
446.4
2 567.4'
726.8
260.9
537.4'
299.7
313.3
761.2
7,922.2
2,204.4'
1,193.1
1,011.3'
5,717.8'
1,118.0'
3,040.8'
443.7
2,597.1'
733.6
281.1
544.3'
287.4
306.7
779.6
7,932.0
2,190.0
1,199.7
990.3
5,742.1
1,126.5
3,080.7
444.6
2,636.0
728.6
259.2
547.0
298.0
306.8
783.9
7,983.3
2,201.3
1,210.6
990.7
5,782.0
1,137.6
3,117.9
451.2
2,666.7
721.8
256.9
547.8
290.6
311.1
795.0
8,033.3
2,209.8
1,217.6
992.2
5,823.6
1,165.2
3,117.3
447.3
2,670.0
727.0
263.9
550.2
281.1
299.7
798.8
8,029.9
2,192.6
1,216.2
976.4
5,837.3
1,168.3
3,123.8
449.3
2,674.6
725.1
273.6
546.6
309.8
292.0
789.9
8,058.4
2,218.2
1,231.0
987.1
5,840.2
1,168.0
3,116.2
446.9
2,669.3
731.9
268.4
555.7
293.6
301.3
783.8
8,012.4
2,198.5
1,210.3
988.2
5,813.9
1,163.7
3,104.7
447.0
2,657.7
726.4
272.0
547.1
298.1
285.4
804.1
8,003.4
2,165.0
1,202.6
962.3
5,838.4
1,171.7
3,121.3
447.9
2,673.5
722.4
272.4
550.6
307.0
290.9
779.1
8,034.4
2,179.3
1,208.3
971.0
5,855.1
1,166.7
3,137.0
448.4
2,688.5
721.4
275.1
555.0
320.6
293.0
779.6
8,658.5r
9,017.4
9,111.0r
9,228.1
9,253.0
9,312.2
9,345.2
9,353.9
9,369.4
9,332.4
9,312.6
9,359.8
5,681.1
669.4
5,011.7
1,387.0
3,624.7
1,682.0
357.5
1,324.5
70.6
503.9
5,898.2
677.8
5,220.4
1,524.3
3,696.1
1,792.6
378.1
1,414.4
56.3
499.7
5,961.5
661.3
5,300.2
1,550.8
3,749.4
1,781.9
370.2
1,411.7
66.2
539.2
5,979.8
677.2
5,302.6
1,574.4
3,728.3
1,822.5
366.1
1,456.5
87.9
566.5
6,001.7
663.7
5,338.0
1,598.9
3,739.1
1,831.5
366.7
1,464.9
82.5
549.8
6,026.0
637.1
5,388.9
1,614.5
3,774.4
1,808.8
348.6
1,460.2
136.1
553.8
6,036.6
659.5
5,377.1
1,646.4
3,730.8
1,806.5
332.8
1,473.7
128.5
566.9
6,048.5
635.7
5,412.8
1,677.1
3,735.7
1,838.0
365.8
1,472.2
71.4
563.0
6,043.4
644.0
5,399.4
1,676.3
3,723.1
1,823.6
337.0
1,486.7
96.2
556.1
6,040.2
604.5
5,435.7
1,691.5
3,744.2
1,831.2
355.0
1,476.1
66.7
565.7
6,045.7
649.7
5,396.1
1,662.8
3,733.2
1,831.8
360.8
1,471.0
81.9
551.4
6,044.1
634.5
5,409.6
1,672.4
3,737.2
1,859.2
392.4
1,466.7
76.3
559.5
7,937.6
8,246.8
8,348.7
8,456.7
8,465.5
8,524.6
8,538.5
8,521.0
8,519.4
8,503.8
8,510.9
8,539.1
762.3
771.3
787.5
787.6
806.7
832.9
850.0
828.6
801.8
820.8
720.9'
770.6'
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
46 Total assets7
47
48
49
50
51
52
53
54
55
56
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
57 Total liabilities
58 Residual (assets less liabilities)5
Footnotes appear on p. 21.
7,408.3'
2,073.8
1,160.0
913.8
5,334.4'
1,011.5'
2,848.5'
444.9
2,403.6'
721.9
311.9
410.0
242.0
510.5
286.4
329.1
701.6
7,679.5
2,105.1'
1,180.0
925.1'
5,574.5'
1,084.2'
2,973.0'
446.6
2,526.4'
716.7
296.9
419.8
268.6
531.9'
303.3
307.0
748.2
7,788.8'
2,165.1'
1,199.9
965.2'
5,623.7'
1,104.7'
3,000.0'
444.9
2,555.0'
720.1
299.6
420.5
263.5
535.4'
306.2
308.1
764.0
7,916.8'
2,212.4'
1,203.6
1,008.8'
5,704.4'
1,124.1'
3,038.6'
444.7
2,593.9'
728.0
306.5
421.5
271.8
541.9'
284.1
303.4
784.5
7,925.5
2,192.9
1,202.4
990.4
5,732.6
1,130.4
3,072.1
446.2
2,626.0
721.9
304.8
417.1
258.8
549.4
291.1
302.7
786.1
7,951.4
2,189.1
1,203.0
986.2
5,762.2
1,135.5
3,109.3
452.1
2,657.3
714.5
306.8
407.7
253.0
549.8
283.3
306.3
795.4
8,010.2
2,203.2
1,211.3
991.9
5,807.0
1,159.0
3,117.7
448.8
2,668.9
724.3
311.8
412.5
256.7
549.3
279.3
290.0
801.1
8,026.8
2,186.2
1,206.3
979.8
5,840.6
1,162.5
3,130.9
451.1
2,679.7
726.8
312.2
414.6
270.8
549.7
306.4
293.0
792.0
8,051.0
2,218.7
1,229.0
989.6
5,832.4
1,160.1
3,123.9
448.5
2,675.4
729.1
313.0
416.1
260.7
558.5
291.9
322.6
792.3
8,014.3
2,191.0
1,202.0
989.0
5,823.3
1,157.3
3,116.2
449.2
2,667.0
727.5
311.6
415.9
269.6
552.6
304.6
290.5
810.9
8,005.6
2,155.6
1,190.0
965.6
5,850.0
1,167.5
3,128.1
450.0
2,678.1
726.5
313.1
413.5
273.5
554.4
301.1
279.8
774.4
8,029.6
2,172.3
1,195.2
977.1
5,857.3
1,162.0
3,140.0
450.2
2,689.8
726.1
312.8
413.3
272.8
556.4
307.8
287.5
780.0
8,656.8
8,970.7
9,099.8
9,221.1
9,237.6
9,268.8
9,312.7
9,350.5
9,389.8
9,352.3
9,293.0
9,337.2
5,672.2
664.5
5,007.7
1,379.6
3,628.1
1,691.3
358.9
1,332.4
73.5
507.2
5,893.2
674.1
5,219.1
1,523.3
3,695.8
1,785.2
377.1
1,408.1
47.9
490.9
5,983.4
669.1
5,314.3
1,555.0
3,759.3
1,786.1
373.0
1,413.1
51.3
523.4
5,977.5
668.6
5,308.9
1,585.8
3,723.1
1,835.6
366.0
1,469.6
82.5
562.4
6,011.9
661.3
5,350.6
1,612.2
3,738.4
1,842.0
366.1
1,475.9
75.5
543.4
6,011.6
630.3
5,381.3
1,617.6
3,763.7
1,804.2
347.9
1,456.4
127.5
545.8
6,021.9
646.6
5,375.2
1,643.6
3,731.7
1,799.8
333.7
1,466.0
129.4
568.5
6,038.1
630.4
5,407.7
1,668.2
3,739.6
1,848.0
367.1
1,480.9
75.1
566.7
6,098.9
612.2
5,486.7
1,675.3
3,811.4
1,814.7
340.8
1,473.9
104.9
566.1
6,068.5
596.6
5,471.9
1,679.6
3,792.3
1,834.1
359.6
1,474.5
69.4
568.6
5,994.6
643.5
5,351.1
1,648.1
3,703.1
1,854.0
364.0
1,490.0
79.1
547.9
5,970.5
664.8
5,305.7
1,662.9
3,642.8
1,885.3
388.4
1,496.9
84.9
567.4
7,944.2
8,217.2
8,344.2
8,458.1
8,472.8
8,489.2
8,519.4
8,527.9
8,584.6
8,540.6
8,475.6
8,508.1
712.7'
753.5
755.7'
763.0
764.8
779.6
793.2
822.6
805.2
811.8
817.4
829.1
16
Federal Reserve Bulletin Statistical Supplement • October 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES
B. Domestically chartered commercial banks
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Sept.
2006
2006
2005
Mar.
Apr.
May
June
July'
Aug.'
Sept.
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
6,629.2'
1,730.5
1,080.6
649.9
4,898.7'
853.9
2,825.3'
443.0
2,382.3'
720.2
108.5
390.9
239.8
267.9
659.5
6,883.5'
1,769.3
1,107.6
661.7
5,114.2
904.3'
2,967.9'
449.9
2,518.0'
722.3
113.4
406.4'
252.9
265.7
716.1
6,955.7'
1,809.2
1,119.7
689.5
5,146.4
915.8'
2,991.8'
446.4
2,545.4'
726.8
105.5
406.6'
251.8
264.1
721.1
7,023.5
1,819.8
1,112.9
706.8
5,203.7
931.4'
3,018.2'
443.7
2,574.4'
733.6
111.6
408.9'
242.2
257.4
730.4
7,042.8'
1,812.4
1,120.2
692.2
5,230.4'
934.5'
3,058.5'
444.6
2,613.9'
728.6
95.1
413.7'
249.5
255.0
737.7'
7,090.7
1,826.2
1,130.1
696.1
5,264.5
943.2
3,095.2
451.2
2,644.0
721.8
93.2
411.1
244.1
258.1
749.1
7,113.5
1,825.5
1,133.2
692.3
5,288.0
957.6
3,094.9
447.3
2,647.6
727.0
96.8
411.7
229.8
247.5
749.6
7,124.5
1,822.3
1,131.7
690.5
5,302.2
957.4
3,101.6
449.3
2,652.3
725.1
110.9
407.2
253.3
244.9
746.7
7,133.2
1,832.5
1,144.0
688.5
5,300.7
957.6
3,093.7
446.9
2,646.9
731.9
102.1
415.3
237.7
249.9
733.2
7,098.3
1,817.6
1,124.3
693.3
5,280.7
953.9
3,082.4
447.0
2,635.3
726.4
108.9
409.2
243.7
235.7
755.5
7,117.4
1,808.5
1,121.0
687.5
5,308.9
960.4
3,099.1
447.9
2,651.2
722.4
116.2
410.8
253.8
247.6
745.0
7,134.6
1,817.0
1,125.4
691.5
5,317.6
955.4
3,115.0
448.4
2,666.5
721.4
112.7
413.1
261.3
246.6
741.8
7,728.6'
8,051.7'
8,125.7
8,186.4'
8,218.0
8,274.7
8,273.1
8,302.2
8,286.8
8,266.1
8,296.7
8,317.1
5,060.0
657.3
4,402.7
792.2
3,610.5
1,301.1
306.6
994.5
252.7
397.6
5,247.8
664.3
4,583.5
886.1
3,697.4
1,356.4
316.2
1,040.2
275.6
403.1
5,288.2
648.6
4,639.6
902.5
3,737.2
1,361.7
314.8
1,046.9
283.5
432.5
5,306.7
665.4
4,641.3
927.1
3,714.3
1,385.3
315.1
1,070.2
298.4
436.1
5,323.9
651.8
4,672.1
946.3'
3,725.7
1,387.1
316.0
1,071.1
298.6
430.5'
5,348.2
625.3
4,722.9
958.4
3,764.5
1,376.2
299.6
1,076.6
333.8
433.7
5,335.8
648.1
4,687.7
962.1
3,725.5
1,371.6
285.6
1,086.0
325.0
440.4
5,321.2
624.9
4,696.4
962.4
3,734.0
1,391.7
310.4
1,081.3
315.3
442.6
5,319.9
633.1
4,686.8
965.3
3,721.4
1,391.5
292.6
1,098.9
306.5
425.6
5,302.4
593.4
4,709.0
966.6
3,742.4
1,380.0
301.1
1,078.9
306.3
447.3
5,329.0
638.8
4,690.2
958.6
3,731.5
1,389.3
302.4
1,087.0
335.6
435.8
5,318.4
623.3
4,695.1
959.6
3,735.5
1,411.5
332.9
1,078.6
329.2
443.9
7,011.3
7,283.0
7,366.0
7,426.5
7,440.1'
7,491.9
7,472.7
7,470.9
7,443.5
7,436.0
7,489.7
7,502.9
759.8'
759.9'
777.9'
782.8
800.4
831.4
843.4
830.1
807.0
814.2
717.3'
768.7'
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)5
Footnotes appear on p. 21.
6,633.8'
1,726.3
1,073.2
653.0
4,907.5
850.0'
2,832.0'
444.9
2,387.1'
1,182.7'
1,204.4'
721.9
311.9
410.0
109.9
393.7
236.9
268.0
662.1
6,847.0
1,759.2
1,101.7
657.6
5,087.8
906.5'
2,951.7'
446.6
2,505.1'
1,212.5'
1,292.6'
716.7
296.9
419.8
110.9
402.0'
255.7
256.6
711.3
6,933.6
1,806.8
1,122.7
684.1
5,126.8
921.9'
2,977.9'
444.9
2,533.0'
1,226.8'
1,306.2'
720.1
299.6
420.5
103.9
403.1'
258.2
259.8
724.8
7,021.5
1,827.8
1,123.4
704.3
5,193.8
937.6'
3,016.0'
444.7
2,571.2'
1,246.1'
1,325.1'
728.0
306.5
421.5
106.5
405.7'
239.0
254.8
734.8
7,036.5'
1,815.3
1,123.0
692.4
5,221.2'
938.7'
3,050.0'
446.2
2,603.8'
1,265.7'
1,338.1'
721.9
304.8
417.1
96.1
414.5'
242.6
251.7'
739.9'
7,062.6
1,814.0
1,122.4
691.6
5,248.6
941.7
3,086.7
452.1
2,634.6
1,282.6
1,352.0
714.5
306.8
407.7
92.5
413.2
236.7
253.7
750.4
7,098.3
1,818.9
1,126.9
692.0
5,279.4
952.0
3,095.3
448.8
2,646.5
1,282.2
1,364.3
724.3
311.8
412.5
95.8
412.0
228.0
237.5
752.3
7,126.1
1,815.8
1,121.9
694.0
5,310.3
953.1
3,108.6
451.1
2,657.5
1,280.7
1,376.8
726.8
312.2
414.6
111.2
410.6
250.0
244.9
749.6
7,133.7
1,833.0
1,142.0
691.0
5,300.7
951.4
3,101.4
448.5
2,652.9
1,284.2
1,368.8
729.1
313.0
416.1
100.7
418.0
236.0
270.6
742.5
7,104.0
1,810.1
1,116.1
694.0
5,294.0
948.8
3,093.9
449.2
2,644.7
1,271.4
1,373.3
727.5
311.6
415.9
109.7
414.0
250.2
239.4
763.0
7,120.7
1,799.1
1,108.3
690.8
5,321.6
957.0
3,105.8
450.0
2,655.9
1,277.1
1,378.8
726.5
313.1
413.5
117.9
414.4
247.9
235.3
741.2
7,134.6
1,810.1
1,112.4
697.7
5,324.6
952.4
3,118.1
450.2
2,667.8
1,288.1
1,379.7
726.1
312.8
413.3
112.4
415.6
248.5
240.2
741.7
7,732.7'
8,003.8
8,109.7'
8,182.9
8,203.4
8,236.3
8,248.6
8,303.3
8,315.3
8,289.2
8,277.9
8,297.9
5,058.0
652.3
4,405.7
791.6
3,614.0
1,310.3
307.9
1,002.4
254.5
400.0
5,239.9
660.4
4,579.5
882.3
3,697.1
1,349.0
315.2
1,033.9
269.0
395.4
5,301.0
656.5
4,644.5
897.7
3,746.9
1,365.9
317.7
1,048.3
271.4
418.5
5,292.5
657.1
4,635.4
926.5
3,708.9
1,398.3
315.0
1,083.4
297.0
435.0
5,323.4
649.7
4,673.7
948.9
3,724.8
1,397.5'
315.4
1,082.1
294.5
426.1'
5,332.4
618.7
4,713.7
959.9
3,753.8
1,371.7
298.9
1,072.8
327.9
427.6
5,324.1
635.5
4,688.6
962.2
3,726.4
1,364.8
286.5
1,078.3
326.9
442.5
5,319.1
619.5
4,699.6
961.8
3,737.9
1,401.6
311.7
1,089.9
317.6
445.4
5,380.0
601.4
4,778.6
968.9
3,809.7
1,382.6
296.5
1,086.1
315.0
435.4
5,341.7
585.4
4,756.3
965.7
3,790.6
1,382.9
305.6
1,077.3
306.9
448.9
5,287.9
632.6
4,655.3
953.9
3,701.4
1,411.5
305.5
1,106.0
332.0
431.9
5,250.4
653.3
4,597.1
956.0
3,641.1
1,437.6
328.8
1,108.8
334.3
449.5
7,022.8
7,253.2
7,356.8
7,422.7
7,441.5'
7,459.6
7,458.3
7,483.7
7,513.1
7,480.4
7,463.4
7,471.8
709.8
750.6
752.8
760.2
761.9'
776.7
790.3
819.7
802.3
808.9
814.5
826.2
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
C. Large domestically chartered commercial banks
17
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Sept.'
2006
2006
2005
Mar.'
Apr.'
May'
June'
July'
Aug.'
Sept.
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Seasonall 1 adjusted
Assets
1 Bank credit
2
Securities in bank credit
3
Treasury and Agency securities2 . .
4
Trading account
5
Investment account
6
Mortgage-backed
7
Other
8
Other securities
9
Trading account
10
Investment account
11
State and local government . .
12
Other
13 Loans and leases in bank credit3 . . . .
14
Commercial and industrial
15
Real estate
16
Revolving home equity
17
Other
18
Other residential
19
Commercial
20
Consumer
21
Security4
22
Federal funds sold to and
repurchase agreements
with broker-dealers
23
Other
24
State and local government
25
Agricultural
26
Federal funds sold to and
repurchase agreements with
others
27
All other loans
28
Lease-financing receivables
29 Interbank loans
30
Federal funds sold to and
repurchase agreements with
commercial banks
31
Other
32 Cash assets56
33 Other assets
34 Total assets7
35
36
37
38
39
40
41
42
43
44
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
45 Total liabilities
46 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,679.9
1,019.1
590.7
37.0
553.7
451.8
101.9
428.4
213.9
214.5
38.1
176.4
2,660.9
503.1
1,408.2
309.9
1 098 2
684.7
413.6
362.8
98.7
3,828.1
1,073.8
628.2
38.5
589.8
509.4
80.4
445.6
205.7
239.9
42.2
197.7
2,754.3
535.5
1,451.7
322.3
1 1294
697.8
431.6
370.5
102.1
3,880.3
1,116.6
642.5
42.7
599.7
514.5
85.3
474.2
227.3
246.8
43.3
203.5
2,763.7
543.0
1,459.3
321.5
1,137.8
704.2
433.6
373.2
93.9
3,923.6
1,126.4
634.9
38.9
596.1
513.4
82.7
491.5
241.8
249.7
45.1
204.6
2,797.2
553.9
1,468.6
321.2
1,147.4
707.0
440.4
377.7
100.4
3,917.4
1,123.2
647.6
47.9
599.7
524.3
75.4
475.6
228.5
247.1
43.8
203.3
2,794.2
550.5
1,488.1
322.4
1,165.7
721.0
444.7
372.7
83.5
3,939.8
1,137.5
657.2
50.2
607.0
537.0
70.0
480.3
228.6
251.7
42.9
208.8
2,802.3
552.6
1,506.3
323.8
1,182.5
734.1
448.5
364.2
81.7
3,954.6
1,136.3
660.2
47.2
613.0
542.4
70.6
476.1
224.3
251.8
42.7
209.1
2,818.3
559.9
1,505.5
324.2
1,181.3
729.2
452.1
370.1
85.6
3,956.4
1,127.8
656.9
44.3
612.6
539.2
73.4
471.0
222.2
248.8
42.6
206.1
2,828.5
558.1
1,508.7
327.2
1,181.5
724.6
456.9
370.3
99.5
3,963.9
1,140.9
669.3
50.9
618.4
543.7
74.7
471.6
219.5
252.1
42.3
209.8
2,823.0
557.6
1,501.1
324.1
1,177.0
725.8
451.2
372.8
91.0
3,930.7
1,121.6
646.2
40.2
606.0
530.7
75.3
475.4
223.2
252.2
43.2
209.0
2,809.1
554.3
1,492.1
324.8
1,167.4
714.0
453.3
371.0
97.4
3,949.3
1,115.9
647.4
40.1
607.2
533.5
73.8
468.5
219.1
249.4
42.5
206.9
2,833.4
559.4
1,506.0
325.6
1,180.4
721.4
459.0
368.4
104.6
3,968.1
1,123.4
651.6
46.3
605.3
534.5
70.9
471.8
226.9
244.8
42.5
202.4
2,844.7
557.8
1,519.7
326.6
1,193.1
733.7
459.4
368.6
101.2
82.4
16.3
18.4
9.8
84.4
17.7
19.1
10.0
75.6
18.3
19.0
9.9
80.6
19.8
19.4
10.2
65.2
18.4
19.5
10.1
64.8
16.9
19.6
10.1
68.7
16.9
20.4
10.1
82.5
17.1
20.6
10.1
73.8
17.2
20.6
10.1
80.6
16.8
20.5
10.1
86.1
18.5
20.5
10.1
85.0
16.2
20.6
10.1
28.9
136.0
95.1
156.7
20.4
151.7
93.4
149.0
19.3
152.5
93.5
146.3
18.4
154.6
94.0
140.9
23.8
151.2
94.7
143.8
23.9
149.3
94.5
142.3
23.3
149.4
93.9
131.6
24.5
143.0
93.8
156.6
24.3
151.4
94.0
138.9
23.4
145.9
94.3
143.5
21.6
148.6
94.2
157.9
29.0
145.0
92.8
169.4
91.8
64.9
158.5
456.4
76.2
72.8
156.5
473.1
83.4
62.9
157.1
474.6
81.0
59.9
148.4
483.9
82.9
60.9
149.0
484.4
82.1
60.2
148.3
492.0
73.0
58.6
137.2
493.2
95.4
61.2
137.2
494.6
76.8
62.1
139.5
483.0
87.6
55.9
130.0
503.8
98.5
59.4
140.0
495.3
109.8
59.6
138.8
490.2
4,418.5
4,574.7
4,626.2
4,664.9
4,662.7
4,690.6
4,684.9
4,713.3
4,693.8
4,676.6
4,711.0
4,735.2
2,575.4
313.4
2,262.0
373.4
1,888.6
781.1
139.8
641.3
239.5
326.3
2,657.7
314.8
2,342.8
426.5
1,916.4
831.5
150.5
681.0
257.1
328.7
2,687.0
307.4
2,379.6
441.3
1,938.3
842.0
152.2
689.8
264.7
358.5
2,696.1
316.7
2,379.4
456.0
1,923.3
850.8
148.3
702.6
279.1
363.0
2,690.0
313.2
2,376.8
464.2
1,912.5
843.7
150.0
693.7
280.2
358.4
2,690.6
293.3
2,397.2
470.5
1,926.7
836.5
137.4
699.1
313.4
361.3
2,678.7
312.7
2,366.0
466.4
1,899.6
844.0
136.0
708.0
305.8
365.6
2,683.7
301.1
2,382.6
467.5
1,915.1
857.2
149.6
707.7
295.2
365.3
2,672.2
309.8
2,362.4
463.9
1,898.5
869.9
144.6
725.3
286.9
349.7
2,651.9
277.4
2,374.5
465.2
1,909.3
857.3
147.4
709.9
286.8
371.5
2,677.1
315.3
2,361.8
463.0
1,898.8
855.1
145.9
709.3
315.3
359.8
2,697.1
299.5
2,397.6
473.0
1,924.6
861.4
161.3
700.0
308.8
368.0
3,922.3
4,075.0
4,152.2
4,189.0
4,172.3
4,201.7
4,194.1
4,201.4
4,178.8
4,167.4
4,207.4
4,235.1
496.2
499.7
474.1
475.9
490.4
488.8
490.8
511.9
515.1
509.2
503.6
500.1
18
Federal Reserve Bulletin Statistical Supplement • October 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES Assets and Liabilities' —Continued
C. Large domestically chartered commercial banks—Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Sept.'
2006
2006
2005
Mar.'
Apr.'
May'
June'
July'
Aug.'
Sept.
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Not seasona lly adjusted
Assets
47 Bank credit
48
Securities in bank credit
49
Treasury and Agency securities2 .
50
Trading account
51
Investment account
52
Mortgage-backed
53
Other
54
Other securities
55
Trading account
56
Investment account
57
State and local government .
58
Other
59 Loans and leases in bank credit3 . . .
60
Commercial and industrial
61
Real estate
62
Revolving home equity
63
Other
64
Other residential
65
Commercial
66
Consumer
67
Credit cards and related plans .
68
Other
69
Security4
70
Federal funds sold to and
repurchase agreements
with broker-dealers
71
Other
72
State and local government
73
Agricultural
74
Federal funds sold to and
repurchase agreements
with others
75
All other loans
76
Lease-financing receivables
77 Interbank loans
78 Federal funds sold to and
repurchase agreements
with commercial banks
79
Other
80 Cash assets5
81 Other assets8
82 Total assets7
83
84
85
86
87
88
89
90
91
92
Liabilities
Deposits
Transaction
Nontransaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
93 Total liabilities
94 Residual (assets less liabilities)5
Footnotes appear on p. 21.
3,680.9
1,017.9
586.4
36.1
550.3
449.5
100.8
431.5
215.4
216.1
38.4
177.7
2,663.0
501.2
1,409.3
311.0
1,098.3
685.2
413.0
363.3
117.3
246.0
100.2
3,799.6
1,058.1
616.6
39.0
577.7
498.0
79.6
441.5
203.8
237.7
41.9
195.8
2,741.5
536.9
1,444.7
319.6
1,125.1
693.8
431.3
368.9
113.3
255.6
99.3
3,869.3
1,110.9
642.2
43.4
598.8
512.9
85.8
468.7
224.7
244.0
42.8
201.2
2,758.4
547.1
1,456.3
320.4
1,135.9
702.9
432.9
370.8
113.1
257.7
92.3
3,930.4
1,136.2
647.3
40.9
606.4
522.4
84.0
489.0
240.6
248.4
44.8
203.5
2,794.2
557.4
1,471.7
322.2
1,149.6
709.5
440.0
375.3
116.1
259.2
95.5
3,921.3
1,125.2
649.4
48.0
601.3
525.5
75.9
475.8
228.5
247.2
43.9
203.4
2,796.2
553.0
1,488.9
323.6
1,165.3
722.1
443.2
370.1
115.5
254.6
84.6
3,922.1
1,127.0
651.2
49.0
602.2
532.4
69.8
475.8
226.4
249.3
42.5
206.8
2,795.2
551.2
1,504.1
324.5
1,179.6
733.7
445.9
360.5
115.4
245.0
81.2
3,942.5
1,132.5
656.7
46.5
610.3
540.0
70.3
475.8
224.2
251.6
42.6
209.0
2,809.9
556.6
1,505.4
325.5
1,179.9
729.5
450.5
368.1
118.8
249.3
84.6
3,954.4
1,124.7
650.3
43.2
607.0
534.4
72.6
474.4
223.8
250.6
43.0
207.6
2,829.7
556.0
1,509.8
328.3
1,181.5
725.2
456.3
370.8
119.8
251.0
99.9
3,964.8
1,145.1
671.0
50.8
620.2
545.0
75.2
474.2
220.6
253.5
42.7
210.9
2,819.7
554.3
1,504.1
325.7
1,178.4
726.9
451.5
372.0
119.6
252.4
89.3
3,932.5
1,118.0
641.9
39.7
602.1
527.3
74.9
476.1
223.7
252.4
43.0
209.4
2,814.5
551.7
1,496.5
326.3
1,170.3
716.2
454.1
371.6
119.5
252.2
98.3
3,946.3
1,109.5
637.8
39.1
598.7
526.0
72.6
471.7
220.5
251.2
42.9
208.3
2,836.8
557.8
1,505.7
326.7
1,179.0
721.4
457.6
369.8
120.2
249.6
106.7
3,962.6
1,118.9
641.0
44.5
596.5
527.2
69.3
477.9
229.9
248.0
43.1
205.0
2,843.7
556.5
1,517.1
327.3
1,189.9
732.9
457.0
369.9
120.1
249.8
101.5
83.7
16.5
18.4
9.8
82.0
17.2
19.1
9.9
74.3
18.0
19.0
9.8
76.6
18.9
19.4
10.1
66.1
18.5
19.5
10.1
64.2
17.1
19.6
10.2
67.6
17.0
20.4
10.2
82.6
17.3
20.6
10.1
72.4
16.9
20.6
10.1
81.2
17.0
20.5
10.1
87.2
19.5
20.5
10.1
85.1
16.4
20.6
10.1
28.9
137.5
94.4
155.6
20.4
148.5
93.9
145.9
19.3
150.2
93.7
150.4
18.4
152.5
93.8
143.4
23.8
151.9
94.3
142.7
23.9
150.5
93.9
140.8
23.3
148.3
93.2
132.1
24.5
144.8
93.2
155.2
24.3
151.4
93.4
136.1
23.4
148.9
93.4
150.3
21.6
151.3
93.3
155.9
29.0
146.8
92.2
162.5
91.2
64.4
157.0
458.9
74.8
71.1
151.9
468.3
85.7
64.7
156.3
478.3
82.4
61.0
147.2
488.3
82.3
60.4
146.5
486.5
81.3
59.5
144.3
493.3
73.3
58.8
128.7
495.9
94.5
60.7
135.8
497.4
75.3
60.8
151.5
492.4
91.7
58.6
132.0
511.3
97.3
58.7
130.2
491.5
105.3
57.2
132.8
490.1
4,419.3
4,533.6
4,622.5
4,677.2
4,665.0
4,668.9
4,667.5
4,711.3
4,713.1
4,694.5
4,692.3
4,716.7
2,574.4
309.8
2,264.6
372.9
1,891.7
790.4
141.2
649.2
241.2
328.7
2,650.7
313.1
2,337.6
422.8
1,914.8
824.1
149.5
674.6
250.5
320.9
2,692.8
313.6
2,379.3
436.5
1,942.8
846.2
155.1
691.1
252.5
344.5
2,684.9
312.1
2,372.8
455.5
1,917.3
863.8
148.2
715.7
277.7
361.8
2,691.1
312.6
2,378.5
466.8
1,911.7
854.2
149.4
704.8
276.1
354.0
2,683.5
289.0
2,394.5
472.0
1,922.4
832.0
136.7
695.2
307.5
355.2
2,670.1
302.7
2,367.4
466.4
1,901.0
837.3
136.9
700.4
307.7
367.8
2,682.4
297.1
2,385.3
466.9
1,918.4
867.2
150.9
716.3
297.4
368.0
2,706.2
285.1
2,421.1
467.5
1,953.6
861.0
148.5
712.5
295.5
359.6
2,681.8
274.9
2,406.9
464.3
1,942.5
860.2
151.9
708.3
287.4
373.0
2,651.2
312.2
2,339.0
458.3
1,880.8
877.3
149.0
728.3
311.8
355.9
2,650.8
317.2
2,333.6
469.4
1,864.2
887.5
157.3
730.2
313.9
373.6
3,934.7
4,046.2
4,136.1
4,188.4
4,175.3
4,178.1
4,182.8
4,215.0
4,222.3
4,202.3
4,196.2
4,225.7
484.6
487.4
486.5
488.8
489.7
490.8
484.7
496.3
490.8
492.2
496.1
491.0
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
D. Small domestically chartered commercial banks
19
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Sept.'
2006
2006
2005
Mar.'
Apr.'
May'
June'
July'
Aug.'
Sept.
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Seasonall { adjusted
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Consumer
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
16 Total assets7
17
18
19
20
21
22
23
24
25
26
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
27 Total liabilities
28 Residual (assets less liabilities)5
2,946.6
708.7
487.2
221.5
2,237.9
350.8
1,417.1
133.1
1,284.0
357.5
9.8
102.7
83.2
109.4
203.1
3,059.7
699.7
483.6
216.1
2,359.9
368.8
1,516.2
127.6
1,388.6
351.8
11.3
111.9
103.9
109.3
243.0
3,076.5
693.8
478.4
215.3
2,382.8
372.8
1,532.4
124.9
1,407.5
353.6
11.6
112.4
105.5
107.0
246.5
3,098.4
691.9
476.5
215.4
2,406.5
377.5
1,549.5
122.5
1,427.0
355.9
11.2
112.3
101.3
109.0
246.5
3,126.4
690.1
473.5
216.6
2,436.2
384.0
1,570.4
122.3
1,448.2
355.9
11.6
114.4
105.7
106.0
253.4
3,150.9
688.7
472.9
215.8
2,462.2
390.6
1,588.9
127.4
1,461.5
357.6
11.4
113.7
101.9
109.7
257.1
3,157.7
687.9
471.7
216.2
2,469.7
397.7
1,589.4
123.1
1,466.3
356.9
11.2
114.6
98.2
110.4
256.4
3,166.1
692.4
472.8
219.6
2,473.7
399.3
1,592.9
122.1
1,470.8
354.8
11.4
115.3
96.7
107.6
252.1
3,166.0
688.3
471.5
216.8
2,477.7
400.0
1,592.6
122.8
1,469.8
359.1
11.1
114.8
98.9
110.5
250.2
3 164.3
692.7
474.8
217.9
2,471.6
399.6
1,590.2
122.3
1,468.0
355.5
11.4
114.9
100.2
105.7
251.7
3 166.5
691.0
472.0
219.0
2,475.5
401.0
1,593.1
122.3
1,470.8
353.9
11.6
115.8
96.0
107.6
249.8
3,165.7
692.8
473.0
219.8
2,472.9
397.7
1,595.3
121.9
1,473.4
352.9
11.5
115.6
91.9
107.7
251.5
3,307.3
3,481.2
3,500.7
3,520.0
3,556.2
3,584.2
3,587.0
3,586.9
3,589.8
3,586.3
3,584.1
3,581.0
2,484.6
343.9
2,140.7
418.8
1,721.9
519.9
166.8
353.2
13.3
71.3
2,590.2
349.5
2,240.7
459.6
1,781.1
524.9
165.7
359.2
18.5
74.4
2,601.2
341.2
2,260.1
461.2
1,798.9
519.7
162.6
357.1
18.9
74.0
2,610.7
348.7
2,262.0
471.0
1,791.0
534.5
166.8
367.7
19.2
73.1
2,633.9
338.7
2,295.3
482.1
1,813.2
543.3
166.0
377.3
18.4
72.1
2,657.6
331.9
2,325.7
487.9
1,837.8
539.7
162.2
377.5
20.4
72.4
2,657.1
335.4
2,321.7
495.8
1,825.9
527.5
149.6
378.0
19.2
74.8
2,637.5
323.7
2,313.8
494.9
1,818.9
534.5
160.8
373.7
20.1
77.3
2,647.7
323.3
2,324.4
501.5
1,822.9
521.6
148.0
373.6
19.6
75.9
2,650.5
316.0
2,334.5
501.4
1,833.1
522.7
153.7
369.0
19.5
75.9
2,651.8
323.5
2,328.4
495.7
1,832.7
534.2
156.5
377.7
20.3
76.0
2,621.3
323.8
2,297.5
486.6
1,810.9
550.1
171.5
378.6
20.4
75.9
3,089.0
3,208.0
3,213.8
3,237.5
3,267.8
3,290.2
3,278.6
3,269.5
3,264.7
3,268.6
3,282.3
3,267.7
218.3
273.2
286.9
282.6
288.4
294.0
308.4
317.4
325.1
317.6
301.8
313.3
Not seasonally adjusted
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Revolving home equity
Other
Other residential
Commercial
Consumer
Credit cards and related plans . .
Other
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets6
48 Total assets7
49
50
51
52
53
54
55
56
57
58
Liabilities
Deposits
Transaction
Non transaction
Large time
Other
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
59 Total liabilities
60 Residual (assets less liabilities)5
Footnotes appear on p. 21.
2,952.9
708.4
486.8
221.5
2,244.6
348.8
1,422.7
133.8
1,288.8
497.4
791.4
358.6
194.6
164.0
9.6
104.8
81.2
111.0
203.1
3,047.4
701.1
485.0
216.1
2,346.3
369.6
1,507.0
126.9
1,380.0
518.7
861.3
347.9
183.7
164.2
11.6
110.3
109.8
104.7
243.0
3,064.3
695.9
480.5
215.3
2,368.4
374.8
1,521.6
124.5
1,397.1
523.9
873.2
349.3
186.4
162.8
11.6
111.1
107.8
103.4
246.5
3,091.1
691.5
476.2
215.4
2,399.6
380.2
1,544.2
122.6
1,421.7
536.6
885.1
352.7
190.4
162.3
11.0
111.5
95.7
107.6
246.5
3,115.2
690.2
473.6
216.6
2,425.0
385.7
1,561.1
122.6
1,438.5
543.6
894.9
351.8
189.3
162.5
11.5
114.9
99.9
105.1
253.4
3,140.5
687.1
471.2
215.8
2,453.4
390.5
1,582.5
127.6
1,455.0
548.9
906.1
354.0
191.4
162.7
11.3
115.1
96.0
109.3
257.1
3,155.8
686.4
470.2
216.2
2,469.4
395.5
1,589.9
123.3
1,466.6
552.7
913.8
356.2
193.0
163.2
11.2
116.7
95.9
108.8
256.4
3,171.8
691.2
471.6
219.6
2,480.6
397.1
1,598.8
122.8
1,476.0
555.5
920.5
355.9
192.4
163.6
11.3
117.5
94.8
109.1
252.1
3,168.9
687.9
471.1
216.8
2,481.0
397.1
1,597.3
122.8
1,474.5
557.3
917.2
357.1
193.4
163.7
11.4
118.1
99.9
119.1
250.2
3,171.6
692.1
474.2
217.9
2,479.5
397.0
1,597.4
123.0
1,474.4
555.2
919.2
355.9
192.2
163.7
11.5
117.7
99.8
107.3
251.7
3,174.4
689.6
470.6
219.0
2,484.8
399.2
1,600.1
123.2
1,476.9
555.7
921.2
356.8
192.8
163.9
11.2
117.5
92.0
105.1
249.8
3,172.0
691.1
471.4
219.8
2,480.9
395.9
1,600.9
123.0
1,478.0
555.2
922.7
356.2
192.7
163.5
10.9
116.9
86.0
107.4
251.5
3,313.3
3,470.2
3,487.1
3,505.7
3,538.3
3,567.4
3,581.2
3,592.0
3,602.3
3,594.7
3,585.5
3,581.2
2,483.6
342.6
2,141.1
418.8
1,722.3
519.9
166.8
353.2
13.3
71.3
2,589.1
347.2
2,241.9
459.6
1,782.3
524.9
165.7
359.2
18.5
74.4
2,608.2
342.9
2,265.3
461.2
1,804.1
519.7
162.6
357.1
18.9
74.0
2,607.6
345.0
2,262.6
471.0
1,791.6
534.5
166.8
367.7
19.2
73.1
2,632.3
337.1
2,295.2
482.1
1,813.1
543.3
166.0
377.3
18.4
72.1
2,648.9
329.7
2,319.2
487.9
1,831.4
539.7
162.2
377.5
20.4
72.4
2,654.0
332.8
2,321.2
495.8
1,825.5
527.5
149.6
378.0
19.2
74.8
2,636.7
322.4
2,314.3
494.9
1,819.4
534.5
160.8
373.7
20.1
77.3
2,673.8
316.2
2,357.5
501.5
1,856.1
521.6
148.0
373.6
19.6
75.9
2,659.9
310.6
2,349.4
501.4
1,848.0
522.7
153.7
369.0
19.5
75.9
2,636.7
320.5
2,316.3
495.7
1,820.6
534.2
156.5
377.7
20.3
76.0
2,599.6
336.1
2,263.5
486.6
1,776.9
550.1
171.5
378.6
20.4
75.9
3,088.1
3,207.0
3,220.8
3,234.4
3,266.2
3,281.5
3,275.5
3,268.7
3,290.8
3,278.0
3,267.2
3,246.0
225.2
263.3
266.4
271.3
272.1
285.9
305.6
323.4
311.5
316.7
318.3
335.2
20
Federal Reserve Bulletin Statistical Supplement • October 2006
1.26
COMMERCIAL BANKS IN THE UNITED STATES
E. Foreign-related institutions
Assets and Liabilities' —Continued
Billions of dollars
Wednesd ay figures
Monthly averages
Account
Sept.
2006
2006
2005
Mar.
Apr.
May
June
July'
Aug.'
Sept.
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Seasonall 1 adjusted
1
2
3
4
5
6
7
8
9
10
11
12
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Other securities
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
13 Total assets7
14
15
16
17
18
19
20
21
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
22 Total liabilities
23 Residual (assets less liabilities)5
780.9
347.6
86.8
260.8
433.3
162.7
16.5
138.2
115.9
49.6
59.9
40.1
829.6
345.8'
78.3
267.5'
483.7'
176.3
21.3
155.9
130.3'
47.6
52.0
37.0
848.5
358.3'
77.2
281.1'
490.2'
181.8
22.1
155.5
130.8'
47.9
49.2
40.1
898.7
384.6'
80.1
304.5'
514.1'
186.6
22.7
169.5
135.4'
45.1
49.3
49.2
889.2'
377.5'
79.5
298.1'
511.6'
192.0
22.2
164.1
133.3'
48.5
51.7
46.2
892.6
375.1
80.5
294.6
517.5
194.5
22.7
163.7
136.6
46.5
53.1
45.9
919.8
384.3
84.4
299.9
535.6
207.5
22.4
167.2
138.4
51.3
52.2
49.3
905.5
370.4
84.5
285.9
535.1
210.9
22.2
162.6
139.4
56.4
47.2
43.1
925.2
385.7
87.0
298.7
539.6
210.3
22.4
166.3
140.5
55.9
51.4
50.6
914.1
380.9
86.0
295.0
533.2
209.8
22.3
163.1
138.0
54.4
49.7
48.6
885.9
356.5
81.6
274.8
529.5
211.3
22.3
156.2
139.7
53.2
43.3
34.0
899.8
362.3
82.8
279.4
537.5
211.3
22.0
162.4
141.9
59.2
46.5
37.8
930.0
965.7
985.3r
1,041.7
1,035.1'
1,037.5
1,072.0
1,051.7
1,082.6
1,066.3
1,015.9
1,042.8
621.1
12.1
609.0
381.0
50.9
330.0
-182.1
106.3
650.3
13.5
636.9
436.1
61.9
374.2
-219.3
96.6
673.3
12.7
660.6
420.2
55.3
364.8
-217.4
106.6
673.1
11.8
661.3
437.2
51.0
386.2
-210.5
130.4
677.8'
11.8
666.0'
444.5'
50.6'
393.8'
-216.1
119.3'
677.8
11.8
665.9
432.6
49.0
383.6
-197.7
120.0
700.8
11.3
689.5
435.0
47.2
387.7
-196.6
126.6
727.3
10.9
716.4
446.4
55.4
390.9
-243.9
120.3
723.5
10.9
712.6
432.1
44.3
387.8
-210.3
130.5
737.8
11.1
726.7
451.2
54.0
397.2
-239.5
118.4
716.8
10.9
705.9
442.5
58.5
384.0
-253.7
115.5
725.7
11.2
714.5
447.7
59.6
388.1
-252.8
115.6
926.3
963.8
982.7
1,030.3
1,025.4
1,032.7
1,065.8
1,050.1
1,075.9
1,067.8
1,021.2
1,036.2
3.7
1.9
2.5
11.5
9.6
4.8
6.3
1.6
6.7
-1.5
-5.3
6.6
Not seasona lly adjusted
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
Assets
Bank credit
Securities in bank credit
Treasury and Agency securities2 . .
Trading account
Investment account
Other securities
Trading account
Investment account
Loans and leases in bank credit3 . . . .
Commercial and industrial
Real estate
Security4
Other loans and leases
Interbank loans
Cash assets5
Other assets'"
40 Total assets7
41
42
43
44
45
46
47
48
Liabilities
Deposits
Transaction
Nontransaction
Borrowings
From banks in the U.S
From others
Net due to related foreign offices
Other liabilities
49 Total liabilities
50 Residual (assets less liabilities)5
Footnotes appear on p. 21.
774.5
347.6
86.8
26.8
60.0
260.8
151.3
109.5
426.9
161.5
16.5
132.1
116.7
49.6
61.1
39.5
832.5
345.8'
78.3
28.1
50.2
267.5'
157.1
110.5'
486.7'
177.8
21.3
157.8
129.9'
47.6
50.4
36.9
855.2
358.3'
77.2
24.9
52.3
281.1'
170.4
110.8'
496.8'
182.9
22.1
159.6
132.3'
47.9
48.4
39.2
895.2
384.6'
80.1
26.9
53.3
304.5'
192.1
112.4'
510.6'
186.6
22.7
165.3
136.1'
45.1
48.6
49.7
888.9
377.5'
79.5
25.7
53.8
298.1'
183.1
115.0'
511.4'
191.6
22.2
162.7
134.9'
48.5
51.0
46.2
888.8
375.1
80.5
26.2
54.4
294.6
180.4
114.2
513.7
193.8
22.7
160.5
136.6
46.5
52.6
45.1
911.9
384.3
84.4
27.6
56.8
299.9
183.5
116.4
527.6
206.9
22.4
161.0
137.3
51.3
52.5
48.8
900.7
370.4
84.5
27.6
56.9
285.9
178.7
107.2
530.3
209.3
22.2
159.6
139.1
56.4
48.1
42.5
917.3
385.7
87.0
28.0
59.0
298.7
182.8
115.9
531.7
208.7
22.4
160.0
140.6
55.9
52.0
49.8
910.3
380.9
86.0
26.9
59.1
295.0
179.6
115.3
529.3
208.5
22.3
159.9
138.6
54.4
51.1
47.8
884.9
356.5
81.6
25.8
55.8
274.8
174.2
100.7
528.4
210.5
22.3
155.6
140.0
53.2
44.5
33.1
895.0
362.3
82.8
29.1
53.8
279.4
178.3
101.2
532.7
209.6
22.0
160.4
140.7
59.2
47.2
38.3
924.2
966.9
990.2
1,038.2
1,034.2
1,032.5
1,064.0
1,047.1
1,074.5
1,063.1
1,015.1
1,039.3
614.2
12.2
602.0
381.0
50.9
330.0
-181.0
107.2
653.4
13.8
639.6
436.1
61.9
374.2
-221.1
95.5
682.4
12.6
669.7
420.2
55.3
364.8
-220.1
104.9
685.1
11.5
673.5
437.2
51.0
386.2
-214.4
127.5
688.5'
11.6
676.9'
444.5'
50.6'
393.8'
-218.9
117.3'
679.2
11.6
667.6
432.6
49.0
383.6
-200.4
118.2
697.7
11.2
686.6
435.0
47.2
387.7
-197.5
125.9
719.0
10.9
708.1
446.4
55.4
390.9
-242.4
121.3
718.9
10.9
708.1
432.1
44.3
387.8
-210.1
130.6
726.8
11.1
715.6
451.2
54.0
397.2
-237.5
119.7
706.7
10.9
695.8
442.5
58.5
384.0
-253.0
116.0
720.1
11.5
708.6
447.7
59.6
388.1
-249.4
117.9
921.4
964.0
987.3
1,035.3
1,031.3
1,029.6
1,061.1
1,044.2
1,071.6
1,060.2
1,012.2
1,036.4
2.8
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
2.9
Commercial Banking Institutions—Assets and Liabilities
1.26
COMMERCIAL BANKS IN THE UNITED STATES
F. Memo items
21
Assets and Liabilities' —Continued
Billions of dollars
Wednesday figures
Monthly averages
Account
2005
Sept.'
2006
2006
Mar.'
Apr.'
May'
June'
July'
Aug.'
Sept.
Sept. 6
Sept. 13
Sept. 20
Sept. 27
Not seasonally adjusted
MEMO
1
2
3
4
5
6
7
8
9
10
Large domestically chartered banks,
adjusted for mergers
Revaluation gains on off-balance-sheet
items9
Revaluation losses on off-balancesheet items9
Mortgage-backed securities10
Pass-through
CMO, REMIC, and other
Net unrealized gains (losses) on
available-for-sale securities"
Securitized consumer loans12
Credit cards and related plans
Other
Securitized business loans12
93.0
89.7
108.5
123.4
111.9
110.8
108.5
104.7
103.8
104.2
100.5
108.9
83.3
546.9
417.6
129.3
79.4
588.6
457.7
130.9
96.6
604.1
474.3
129.9
110.6
615.5
483.4
132.1
99.6
619.4
485.0
134.4
96.1
625.9
491.5
134.3
92.3
634.5
501.2
133.3
91.0
625.4
494.6
130.9
85.3
638.9
506.3
132.6
87.5
619.5
488.7
130.9
87.5
618.1
488.1
130.0
101.4
614.4
489.5
124.9
-2.4
87.3
66.8
20.5
3.3
-14.1
99.7
70.0
29.7
3.0
-19.6
99.5
70.6
28.9
3.0
-21.1
98.7
70.4
28.4
3.0
-22.1
99.3
69.7
29.6
2.9
-20.8
101.4
68.9
32.5
2.7
-14.3
100.2
68.1
32.0
2.4
-10.3
102.2
68.3
33.8
2.3
-12.9
100.3
68.6
31.7
2.3
-10.9
101.1
68.3
32.7
2.3
-10.4
103.4
68.3
35.1
2.3
-9.0
103.9
68.8
35.1
2.3
332.9
275.7
271.4
4.3
331.0
271.2
267.0
4.2
326.4
270.6
266.3
4.2
325.9
268.9
264.7
4.1
325.9
273.7
269.7
4.0
324.2
273.2
269.3
3.9
326.0
275.4
271.9
3.5
330.2
278.3
274.8
3.5
327.0
277.1
273.6
3.5
332.2
277.7
274.3
3.5
330.2
277.3
273.9
3.4
329.9
279.0
275.5
3.5
65.8
58.1
64.4
78.2
71.0
71.3
72.7
69.2
73.2
71.8
66.3
66.8
70.9
62.0
68.2
82.8
76.1
76.8
78.9
76.2
79.2
78.7
73.8
73.9
Small domestically chartered
commercial banks, adjusted for
yyi ^v^ers
10
11
securities
12 Mortgage-backed
Securitized consumer
loans12
13
Credit cards and related plans
14
Other
Foreign-related institutions
15 Revaluation gains on off-balancesheet items9
16 Revaluation losses on off-balancesheet items9
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 • October 2006
COMMERCIAL PAPER OUTSTANDING
Millions of dollars, seasonally adjusted, end of period
Year ending December
2006
Item
1 All issuers
2 Financial companies'
3 Nonfinancial companies2
2001
2002
2003
2004
2005
Jan.
Feb.
Mar.
Apr.
May
June
1,442,842
1,341,226
1,260,745
1,375,717
1,631,009
1,672,657
1,687,510
1,705,078
1,734,611
1,765,365
1,775,915
563,428
216,448
522,863
147,689
519,731
103,982
595,249
119,727
667,321
132,207
681,727
140,561
690,883
134,575
692,513
134,245
699,320
140,406
718,125
137,141
704,548
146,789
1. Institutions engaged primarily in commercial, savings, and mortgage banking; sales,
personal, and mortgage financing; factoring, finance leasing, and other business lending;
insurance underwriting; and other investment activities.
1.33
PRIME RATE CHARGED BY BANKS
2. Includes public utilities and firms engaged primarily in such activities as communications, construction, manufacturing, mining, wholesale and retail trade, transportation, and
services.
Short-Term Business Loans1
Percent per year
Date of change
2001—Jan.
Feb
Mar.
Apr
May
June
Aug.
Sept.
Oct.
Nov.
Dec.
Rate
4
1
21
19
16
28
22
18
3
7
12
9.00
8 50
8.00
7 50
7.00
6 75
6.50
6.00
5.50
5.00
4.75
2002—Nov. 7
4.25
2003—June 27
4.00
2004—June
Aug.
Sept.
Nov.
Dec.
30
10
21
10
14
4.25
4.50
4.75
5.00
5.25
2005—Feb.
Mar.
May
June
Aug.
Sept.
Nov.
Dec.
2
22
3
30
9
20
1
13
5.50
5.75
6.00
6.25
6.50
6.75
7.00
7.25
2006—Jan.
Mar.
May
June
31
28
10
29
7.50
7.75
8.00
8.25
Period
Average
rate
2002
2003
2004
2005
4.67
4.12
4.34
6.19
2003 Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
4.25
4.25
4.25
4.25
4.25
4.22
4.00
4.00
4.00
4.00
4.00
4.00
1. The prime rate is one of several base rates that banks use to price short-term business
loans. The table shows the date on which a new rate came to be the predominant one quoted
by a majority of the twenty-five largest banks by asset size, based on the most recent Call
Period
2004—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
Average
rate
4.00
4.00
4.00
4.00
4.00
4.01
4.25
4.43
4.58
4.75
4.93
5.15
Period
Average
rate
2005—Jan
Feb
Mar
Apr
May
June
July
Aug
Sept
Oct
Nov
Dec
5.25
5.49
5.58
5.75
5.98
6.01
6.25
6.44
6.59
6.75
7.00
7.15
2006—Jan
Feb
Mar
Apr
May
June
July
Aug
7.26
7.50
7.53
7.75
7.93
8.02
8.25
8.25
Report. Data in this table also appear in the Board's H.I 5 (519) weekly statistical release,
available on the Board's website, www.federalreserve.gov/releases.
Financial Markets
1.35
INTEREST RATES
23
Money and Capital Markets
Percent per year; figures are averages of business day data unless otherwise noted
2006
Item
2003
2004
2006, week ending
2005
Apr.
May
June
July
June 30
July 7
July 14
July 21
July 28
MONEY MARKET INSTRUMENTS
1 Federal funds1-13
2 Discount window primary credit2-4
1.13
n.a.
1.35
2.34
3.22
4.19
4.79
5.75
4.94
5.93
4.99
6.02
5.24
6.25
5.00
6.00
5.14
6.25
5.24
6.25
5.25
6.25
5.24
6.25
paper3'5'6
Commercial
3
4
5
Nonfinancial
1-month
2-month
3-month
1.11
1.11
1.11
1.38
1.40
1.41
3.22
3.23
3.42
4.80
4.81
4.87
4.95
4.94
5.01
5.12
5.13
5.29
5.24
5.26
n.a.
5.24
5.24
5.29
5.25
5.25
n.a.
5.22
5.25
n.a.
5.23
5.28
n.a.
5.25
5.26
n.a.
6
7
8
Financial
1-month
2-month
3-month
1.12
1.13
1.13
1.41
1.46
1.52
3.27
3.36
3.44
4.81
4.90
4.94
4.99
5.02
5.05
5.16
5.21
5.25
5.28
5.34
5.37
5.27
5.31
5.36
5.26
5.33
5.36
5.26
5.34
5.38
5.29
5.35
5.39
5.30
5.34
5.36
Certificates of deposit, secondary market3-1
1-month
3-month
6-month
1.15
1.15
1.17
1.45
1.57
1.74
3.34
3.51
3.73
4.88
5.03
5.17
5.04
5.15
5.25
5.22
5.35
5.46
5.34
5.46
5.54
5.31
5.46
5.57
5.31
5.46
5.57
5.33
5.48
5.56
5.35
5.48
5.55
5.37
5.45
5.52
12 Eurodollar deposits, 3-month3>s
1.14
1.55
3.51
5.06
5.18
5.38
5.49
5.48
5.49
5.50
5.50
5.48
US Treasury bills
Secondary market3-5
13
4-week
14
3-month
15
6-month
1.00
1.01
1.05
1.24
1.37
1.58
2.94
3.15
3.39
4.52
4.60
4.72
4.61
4.72
4.82
4.62
4.79
4.97
4.80
4.95
5.06
4.62
4.89
5.08
4.68
4.90
5.10
4.79
4.93
5.08
4.80
4.97
5.07
4.89
4.97
5.02
1.24
1.65
2.10
2.97
3.52
4.01
4.96
1.89
2.38
2.78
3.43
3.87
4.27
5.04
3.62
3.85
3.93
4.05
4.15
4.29
4.64
4.90
4.89
4.89
4.90
4.94
4.99
5.22
5.00
4.97
4.97
5.00
5.03
5.11
5.35
5.16
5.12
5.09
5.07
5.08
5.11
5.29
5.22
5.12
5.07
5.04
5.05
5.09
5.25
5.27
5.23
5.21
5.18
5.19
5.22
5.38
5.27
5.20
5.16
5.14
5.14
5.18
5.34
5.24
5.14
5.10
5.06
5.07
5.10
5.25
5.22
5.11
5.06
5.03
5.03
5.07
5.23
5.17
5.06
5.01
4.98
4.99
5.05
5.21
4.52
5.20
4.75
4.50
5.09
4.68
4.28
4.86
4.40
4.36
4.98
4.58
4.38
5.02
4.59
4.35
4.96
4.60
4.41
5.05
4.61
4.45
5.07
4.71
4.44
5.06
4.69
4.39
5.04
4.62
4.44
5.09
4.59
4.41
5.05
4.55
6.24
6.00
5.57
6.20
6.31
6.29
6.26
6.40
6.35
6.26
6.24
6.23
5.66
6.14
6.38
6.76
5.63
5.91
6.08
6.39
5.23
5.37
5.59
6.06
5.84
6.00
6.27
6.68
5.95
6.13
6.40
6.75
5.89
6.11
6.39
6.78
5.85
6.08
6.36
6.76
5.98
6.21
6.49
6.90
5.94
6.16
6.45
6.85
5.85
6.07
6.36
6.76
5.82
6.06
6.34
6.75
5.82
6.05
6.32
6.72
1.72
1.64'
1.73'
1.78
1.80
1.88
1.90
1.92
1.87
1.87
1.92
1.92
9
10
11
U.S. TREASURY NOTES AND BONDS
16
17
18
19
20
21
22
Constant maturities''
1 -year
2-year
3-year
5-year
7-year
10-year
20-year
STATE AND LOCAL NOTES AND BONDS
Moody's series10
23 Aaa
24 Baa
25 Bond Buyer series"
CORPORATE BONDS
26 Seasoned issues, all industries12
27
28
29
30
Rating group
Aaa13
Aa
A
Baa
MEMO
Dividend-price ratio14
31 Common stocks
NOTE: Some of the data in this table also appear in the Board's H.I 5 (519) weekly
statistical release, available at www.federalreserve.gov/releases.
1. The daily effective federal funds rate is a weighted average of rates on trades through
New York brokers.
2. Weekly figures are averages of seven calendar days, ending on Wednesday of the
current week; monthly figures include each calendar day in the month.
3. Annualized using a 360-day year or bank interest.
4. The rate charged for discounts made and advances extended under the Federal Reserve's primary credit discount window program, which became effective January 9, 2003.
This rate replaces that for adjustment credit, which was discontinued after January 8, 2003.
For further information, see www.federalreserve.gov/boarddocs/press/bcreg/2002/200210312/
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.
10. General obligation bonds based on Thursday figures; Moody's Investors Service.
11. State and local government general obligation bonds maturing in twenty years are used
in compiling this index. The twenty-bond index has a rating roughly equivalent to Moody's
Al rating. Based on Thursday figures.
12. Daily figures are averages of Aaa, Aa, A, and Baa yields from Moody's Investors
Service. Based on yields to maturity on selected long-term bonds.
13. Effective December 7, 2001, the Moody's Aaa yield includes yields only for industrial
firms. Prior to December 7, 2001, the Aaa yield represented both utilities and industrial.
14. Standard & Poor's corporate series. Common stock ratio is based on the 500 stocks in
the price index.
SOURCE: U.S. Department of the Treasury.
24
Federal Reserve Bulletin Statistical Supplement • October 2006
1.36
STOCK MARKET
Selected Statistics
2006
2005
Indicator
2003
2004
2005
Feb.
Jan.
Dec.
Mar.
Apr.
May
June
July
Aug.
Pr ces and trac ng volume (averages of daily figures)
Common stock prices (indexes)
1 New York Stock Exchange
(Dec. 31,1965 = 50)
5,456.00
634.11
437.37
238.05
566.74
6,614.10
741.19
521.11
271.45
657.07
7,351.19
n.a.
n.a.
n.a.
n.a.
7,787.22
n.a.
n.a.
n.a.
n.a.
8,007.35
n.a.
n.a.
n.a.
n.a.
8,044.86
n.a.
n.a.
n.a.
n.a.
8,174.34
n.a.
n.a.
n.a.
n.a.
8,351.28
n.a.
n.a.
n.a.
n.a.
8,353.45
n.a.
n.a.
n.a.
n.a.
7,985.59
n.a.
n.a.
n.a.
n.a.
8,103.97
n.a.
n.a.
n.a.
n.a.
8,294.89
n.a.
n.a.
n.a.
n.a.
6 Standard & Poor's Corporation
(1941^3 - 10)'
965.23
1,130.65
1,207.23
1,262.07
1,278.72
1,276.65
1,293.74
1,302.18
1,290.00
1,253.12
1,260.24
1,287.15
7 American Stock Exchange
(Aug. 31, 1973 = 50)2
943.44
1,260.02
1,567.52
1,752.65
1,815.91
1,828.06
1,902.69
1,976.03
1,968.30
1,881.59
1,924.93
1,996.50
3
4
5
Transportation
Utility
Finance
Volume of trading (thousands of shares)
1 361 043 1 403 376 1 542 724 1,508,647 1 808 726 1 660 932 1 728 333 2 285 601 2 510 157 2 501 759 2 351 792 2 201 576
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
9 American Stock Exchange
Customer financing (millions of dollars, end-of-period balances)
10 Margin credit at broker-dealers
Free credit balances at brokers4
11 Margin accounts5
3
173,220
203,790
221,660
221,660
232,190
222,780
236,670
241,540
230,540
225,780
231,490
226,480
92,560
84,920
117,850
93,580
119,710
88,730
119,710
88,730
115,220
83,250
117,970
81,600
119,360
82,750
119,020
83,000
126,210
81,090
137,550
84,400
141,000
79,420
139,290
79,460
Margin requirements (percent of market value and effective date)6
14 Convertible bonds
Mar. 11, 1968
June 8, 1968
May 6, 1970
Dec. 6, 1971
Nov. 24, 1972
Jan. 3, 1974
70
50
70
80
60
80
65
50
65
55
50
55
65
50
65
50
50
50
1. In July 1976 a financial group made up of banks and insurance companies was added to
the group of stocks on which the index is based. The index is now based on 400 industrial
stocks (formerly 425), 20 transportation (formerly 15 rail), 40 public utility (formerly 60), and
40 financial.
2. On July 5, 1983, the American Stock Exchange rebased its index, effectively cutting
previous readings in half.
3. Since July 1983, under the revised Regulation T, margin credit at broker-dealers has
included credit extended against stocks, convertible bonds, stocks acquired through the
exercise of subscription rights, corporate bonds, and government securities. Separate reporting of data for margin stocks, convertible bonds, and subscription issues was discontinued in
April 1984.
4. Free credit balances are amounts in accounts with no unfulfilled commitments to
brokers and are subject to withdrawal by customers on demand.
5. Series initiated in June 1984.
6. Margin requirements, stated in regulations adopted by the Board of Governors pursuant
to the Securities Exchange Act of 1934, limit the amount of credit that can be used to
purchase and carry "margin securities" (as defined in the regulations) when such credit is
collateralized by securities. Margin requirements on securities are the difference between the
market value (100 percent) and the maximum loan value of collateral as prescribed by the
Board. Regulation T was adopted effective Oct. 15, 1934; Regulation U, effective May 1,
1936; Regulation G, effective Mar. 11, 1968; and Regulation X, effective Nov. 1, 1971.
On Jan. 1, 1977, the Board of Governors for the first time established in Regulation T the
initial margin required for writing options on securities, setting it at 30 percent of the current
market value of the stock underlying the option. On Sept. 30, 1985, the Board changed the
required initial margin, allowing it to be the same as the option maintenance margin required
by the appropriate exchange or self-regulatory organization; such maintenance margin rules
must be approved by the Securities and Exchange Commission.
Federal Finance
1.40
25
FEDERAL DEBT SUBJECT TO STATUTORY LIMITATION
Billions of dollars, end of month
2004
1 Federal debt outstanding
....
2 Public debt securities
3
Held by public
4
Held by agencies
5 Agency securities
6
Held by public
7
Held by agencies
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
7,298.6
7,403.2
7,620.4
7,801.0
7,860.2
7,956.3
8,194.3
8,394.7
8,443.7
7,274.3
4.218.7
3,055.6
7,379.0
4,303.4
3,075.7
7,596.1
4,406.4
3,189.8
7,776.9
4,572.4
3,204.5
7,836.5
4,527.6
3,308.9
7,932.7
4,601.6
3,331.1
8,170.4
4,714.6
3,455.8
8,371.2
4,872.8
3,498.4
8,420.0
4,797.4
3,622.6
24.2
24.2
.0
24.2
23.7
.4
24.3
23.9
.4
24.1
24.1
.0
23.7
23.7
.0
23.6
23.6
.0
23.8
23.8
23.6
23.6
23.6
23.6
7,871.0
8,107.0
8,281.5
8,330.6
7,229.2
.1
7,333.2
.2
7,535.5
.2
7,715.4
.1
7,778.0
.1
7,870.9
.1
8,106.9
8,281.4
8,330.6
7,384.0
7,384.0
8,184.0
8,184.0
8,184.0
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
16
17
18
19
20
21
22
23
24
25
26
27
28
By type
Interest-bearing
Marketable
Bills
Notes
Bonds
Inflation-indexed notes and bonds'
Nonmarketable2
State and local government series .
Foreign issues3
Government
Public
Savings bonds and notes
Government account series4
Non-interest-bearing
By holder^
U.S. Treasury and other federal agencies and trust funds
Federal Reserve Banks8
Private investors
Depository institutions
Mutual funds
Insurance companies
State and local treasuries7
Individuals
Savings bonds
Pension funds
Private
State and Local
Foreign and international5
Other miscellaneous investors7'9
6,405.7
6,998.0
7,596.1
8,170.4
6,391.4
6,982.0
3,205.1
3,575.1
7,578.5
3,959.7
8,117.0
4,184.0
888.8
1,580.8
588.7
146.9
3,186.3
928.8
1,905.7
564.3
1,003.2
2,157.1
Q3
Q4
Ql
Q2
7,913.7
4,084.8
914.3
2,328.7
520.6
8,117.0
4,184.0
8,351.7
4,340.4
1,042.1
8,400.2
4,354.9
916.7
2,427.4
190.0
3,380.6
19.0
963.9
2,326.8
516.6
328.7
3,986.5
235.6
3.8
3.8
.0
191.2
3,506.6
53.4
184.8
2,806.9
3,406.9
149.2
9.7
9.7
.0
192.2
3,007.0
14.3
16.0
17.6
963.9
2,326.8
516.6
328.7
3,986.5
235.6
3.8
3.8
.0
191.2
3,506.6
53.4
2 757.8
629.4
3,018.5
222.8
278.8
139.7
351.5
2,955.1
666.7
3,377.9
154.0
279.6
136.5
358.8
3,189.1
717.8
3,667.1
128.1
253.1
149.2
385.8
3,466.9
744.2
3,970.6
117.2
252.2
172.2
454.6
3,334.1
736.4
3,864.9
125.0
245.0
171.6
446.5
194.9
278.8
134.7
144.1
1,246.8
323.4
203.8
288.2
140.8
147.4
1,538.1
452.6
204.4
295.7
151.0
144.7
1,942.0
307.8
205.1
306.3
179.9
126.4
2,041.1
455.8
203.6
302.0
179.4
122.6
2,069.0
311.5
153.4
11.2
11.2
.0
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.
176.2
539.5
245.9
3,618.8
160.7
5.9
5.9
.0
191.7
3,230.6
307.1
3,828.9
225.3
3.1
3.1
.0
2,409.7
526.7
347.9
4,030.8
234.8
3.4
3.4
.0
192.0
523.1
19.5
372.8
4,166.0
242.0
3.0
3.0
.0
191.0
3,680.2
120.8
3,466.9
744.2
3,970.6
117.2
252.2
172.2
454.6
3,502.0
758.5
4,114.0
115.4'
249.3'
162.9'
457.9'
3,626.6
766.4
4,030.8
116.8
242.9
164.5
467.2
205.1
306.3
179.9
126.4
2,041.1
455.8
205.9
314.6'
184.4'
130.2'
2,082.3
509.4
205.2
318.8
191.4
127.4
2,091.7
n.a.
3,551.2
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 • October 2006
1.42
U.S. GOVERNMENT SECURITIES DEALERS
Transactions1
Millions of dollars, daily averages
2006
Item
By type of security
1 U.S. Treasury bills
Treasury coupon securities by maturity
2 Three years or less
3
More than three but less than or
equal to six years
4
More than six but less than or equal
to eleven years
5
More than eleven
6
Inflation-protected2
7
8
9
10
11
12
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
More than six years but less than
or equal to eleven years . . . .
More than eleven years
Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
15
16
17
18
19
20
21
22
By type of counterparty
With interdealer broker
U.S. Treasury
Federal agency and governmentsponsored enterprises
Mortgage-backed
Corporate
With other
U.S. Treasury
Federal agency and governmentsponsored enterprises
Mortgage-backed
Corporate
Apr.
May
2006, week end
June
May 31
June 7
June 14
June 21
June 28
July 5
July 12
July 19
July 26
46,670
42,416
42,972
47,512
48,005
37,493
43,508
43,369
41,756
40,620
37,926
46,714
187,621
245,729
207,051
237,450
239,691
185,715
176,676
228,202
201,850
150,338
214,799
203,680
115,331
126,490
118,620
152,972
146,398
120,499
90,694
113,320
127,542
99,936
118,301
115,930
117,385
30,049
9,164
131,419
29,525
7,094
111,273
25,452
6,016
104,936
24,220
6,261
125,067
30,547
6,547
131,946
28,058
6,609
97,442
24,503
6,040
97,714
20,175
4,922
93,576
21,768
5,885
97,540
23,356
6,953
102,845
22,366
11,175
91,277
19,293
10,884
56,669
59,473
60,948
71,370
58,608
55,144
61,551
63,741
72,814
54,751
56,320
53,742
8,450
9,503
8,057
7,389
9,632
10,865
5,855
5,923
7,943
7,732
7,236
7,556
3,925
3,254
5,873
3,362
11,369
3,456
5,643
3,727
4,115
2,584
5,076
6,331
3,628
358
2,878
334
3,904
282
2,090
538
3,289
273
5,393
137
2,938
407
4,050
305
3,772
294
5,579
437
2,566
1,516
1,973
302
245,184
217,762
208,046
160,265
295,028
236,975
161,019
165,097
143,206
361,801
176,320
176,361
198,669
23,493
221,935
23,389
213,965
22,905
191,165
19,578
201,551
27,977
198,694
20,498
222,783
22,939
231,969
23,607
216,118
14,406
210,551
17,165
191,566
18,870
204,873
19,834
225,475
263,421
227,386
258,634
263,947
233,809
193,311
225,395
210,088
193,351
232,932
210,924
5,666
60,182
562
5,898
51,989
413
5,428
48,851
362
5,325
34,245
351
6,914
57,936
430
5,262
66,665
425
5,163
39,261
354
4,492
39,920
282
5,133
27,901
258
5,105
100,235
384
6,037
53,815
458
5,630
34,778
475
280,745
319,252
283,999
314,718
332,309
276,510
245,551
282,308
282,290
225,391
274,480
276,853
67,364
185,002
221,600
69,544
165,774
244,912
73,636
159,195
236,507
79,424
126,020
210,393
76,256
237,092
229,097
69,733
170,310
218,766
71,232
121,757
245,367
73,254
125,177
255,294
83,805
115,305
230,267
65,978
261,566
227,332
66,677
122,505
209,978
64,275
141,583
224,232
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. Thefiguresrepresent purchases and sales in the market by the primary U.S. government
securities dealers reporting to the Federal Reserve Bank of New York. Outright transactions
include all U.S. government, federal agency, government-sponsored enterprise, mortgage-
backed, and corporate securities scheduled for immediate and forward delivery, as well as all
U.S. government securities traded on a when-issued basis between the announcement and
issue date. Data do not include transactions under repurchase and reverse repurchase (resale)
agreements. Averages are based on the number of trading days in the week.
2. Outright Treasury inflation-protected securities (TIPS) transactions are reported at
principal value, excluding accrued interest, where principal value reflects the original issuance par amount (unadjusted for inflation) times the price times the index ratio.
Federal Finance
1.43
U.S. GOVERNMENT SECURITIES DEALERS
27
Positions and Financing
Millions of dollars
2006, week ending
2006
Item, by type of security
Apr.
May
June
May 31
June 7
June 14
June 21
June 28
July 5
July 12
July 19
Net outright posit ons2
1 U.S. Treasury bills
Treasury coupon securities by maturity
Three years or less
More than three years but less than
or equal to six years
4
More than six but less than
or equal to eleven years
5
More than eleven
6
Inflation-protected
2
3
7
8
9
10
11
Federal agency and governmentsponsored enterprises
Discount notes
Coupon securities, by maturity
Three years or less
More than three years but less than
or equal to six years
More than six but less than
or equal to eleven years
More than eleven
12 Mortgage-backed
Corporate securities
13
One year or less
14
More than one year
13,797
-14,690
-21,412
-10,447
-7,704
-18,709
-28,422
-29,691
-25,334
-18,222
-23,302
-36,092
-41,969
-34,485
-44,400
-36,458
-32,639
-34,409
-33,386
-38,149
-36,547
-42,711
-42,231
-42,707
-35,657
-37,880
-35,223
-33,041
-38,976
-34,470
-38,863
-39,086
-36,030
-41,367
-13,029
1,547
-37,581
-16,693
1,653
-39,886
-16,297
1,007
-36,042
-17,450
1,241
-40,183
-14,746
1,670
-38,170
-15,891
1,226
-38,111
-18,020
571
-42,471
-16,501
814
-42,016
-16,397
127
-43,916
-11,788
-822
-42,201
-13,691
850
46,694
52,218
49,670
52,795
51,305
61,027
43,619
44,831
42,317
45,322
34,285
38,678
38,257
42,731
39,269
39,584
45,134
42,772
42,886
44,645
44,771
40,618
14,339
12,673
13,858
11,934
14,480
12,898
13,840
14,496
12,875
12,771
13,574
1,687
6,596
3,723
7,027
4,963
7,567
3,531
7,220
3,747
7,578
4,777
7,699
4,394
7,228
6,397
7,644
6,836
7,979
7,534
7,867
6,321
8,594
26,344
37,865
36,829
40,001
32,697
35,970
38,913
38,811
40,068
34,093
31,463
44,474
149,732
38,812
159,780
41,588
134,766
37,693
161,334
48,046
132,368
41,842
130,596
39,478
134,802
37,828
139,024
38,645
142,721
33,963
141,045
45,002
136,133
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
1 291 107
1,149,035
1 274 764
1,193,209
1 280 638
1,191,915
1 266 491
1,252,731
1 287 534
852,059
1 281 734
933,544
1 270 110
998,245
182,955
240,124
191,262
242,066
193,801
248,634
201,662
243,869
195,299
234,527
192,509
191,135
192,108
208,781
183,086
221,835
124,683
391,005
114,294
391,754
132,117
384,275
102,136
404,301
141,031
393,224
122,023
386,897
129,673
374,638
124,871
377,570
131,406
384,869
111,356
95,587
113,302
90,627
107,977
97,695
109,763
91,848
112,070
91,497
114,293
89,938
116,251
89,798
116,216
88,624
113,531
91,211
112,956
91,377
720,323
1 463 741
835,023
1 487 485
822,752
1 552 385
846,544
1 462 676
829,992
1 520 701
800,428
1 591 008
845,480
1 581 410
817,480
1 622 880
814,450
1 179 783
799,555
1 263 116
795,479
1,338,091
1 137 202
955,118
1 213 054
999,245
1 211 080
1,020,507
1 202 811
966,880
1 213 627
1,005,172
1 217 597
1,049,025
1 221 124
1,037,861
1 186 467
1,086,331
1 230 340
683,248
1 222 901
760,098
1 231 732
821,343
320,020
163,654
321,146
173,310
332,648
181,703
329,983
173,465
328,730
191,780
337,119
192,100
336,493
175,672
332,292
178,350
318,502
142,891
340,200
142,965
322,175
149,186
508,618
259,540
517,720
249,114
526,341
235,898
524,570
243,507
530,701
250,225
518,174
229,110
530,980
237,094
522,361
234,216
537,366
211,206
532,800
210,459
569,106
225,044
269,170
55,502
266,573
55,916
270,947
52,763
262,323
58,134
264,208
57,075
269,368
54,643
269,632
52,665
276,161
48,461
286,411
46,485
276,541
48,061
283,275
47,716
1,984,952
1,352,516
2,063,970
1,391,241
2,080,953
1,409,984
2,069,844
1,354,042
2,077,821
1,421,175
2,086,195
1,442,759
2,100,463
1,422,549
2,054,642
1,469,527
2,097,364
1,003,723
2,096,263
1,082,716
2,126,409
1,161,786
1 196 001
1,085,022
1 303 786
1,132,988
1 278 869
1,173,745
1 268 330
1,139,762
169,260
233,883
190,257
224,086
195,306
238,865
101,886
389,694
117,786
384,359
115,649
97,219
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 • October 2006
FEDERAL AND FEDERALLY SPONSORED CREDIT AGENCIES
Debt Outstanding
Millions of dollars, end of period
Agency
Apr.
1 Federal and federally sponsored agencies
2 Federal agencies
3
Defense Department1
4
Export-Import Bank2-3
5
Federal Housing Administration4
6
Government National Mortgage Association certificates of
participation5
7
Postal Service1"
8
Tennessee Valley Authority
9
United States Railway Association1"
10 Federally sponsored agencies7
11
Federal Home Loan Banks
12 Federal Home Loan Mortgage Corporation . .
13 Federal National Mortgage Association
14 Farm Credit Bankss
15
Student Loan Marketing Association9
16 Financing Corporation10
17
Farm Credit Financial Assistance Corporation''
18
Resolution Funding Corporation12
2,351,039
n.a.
25,412
6
n.a.
290
n.a.
> ,351,037
674,841
648,894
851,000
85,088
47,900
8,170
1,261
29,996
n.a.
n.a.
25,406
n.a.
2,645,667
745,226
744,800
961,732
92,151
58,500
8,170
1,261
29,996
n.a.
24,267
6
24,261
854,815
733,400
949,510
97,266
78,121
8,170
1,261
29,996
23,843
6
n.a.
161
n.a.
n.a.
23,837
n.a.
n.a.
921,793
773,600
754,535
113,021
91,929
8,170
1,261
29,996
n.a.
23,680
6
23,674
920,103
779,300
755,612
114,375
90,518
8,170
1,261
29,996
23,454
6
n.a.
85
n.a.
n.a.
23,448
n.a.
n.a.
918,457
776,600
750,240
115,147
90,468
8,170
1,261
29,996
May
n.a.
23,590
6
23,584
918,162
797,500
766,905
116,411
90,446
8,170
1,261
29,996
23,371
6
n.a.
85
n.a.
n.a.
23,365
n.a.
n.a.
904,531
806,000
780,572
117,950
n.a.
8,170
1,261
29,996
23,583
6
23,577
919,361
8,313,000
8,170
1,261
29,996
MEMO
19 Federal Financing Bank debt"
20
21
22
23
24
Lending to federal and federally sponsored agencies
Export-Import Bank3
Postal Service1"
Student Loan Marketing Association
Tennessee Valley Authority
United States Railway Association1"
Other lending*4
25 Farmers Home Administration . . . .
26 Rural Electrification Administration
27 Other
37,017
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
14,489
22,528
n.a.
16,127
14,684
1. Consists of mortgages assumed by the Defense Department between 1957 and 1963
under family housing and homeowners' assistance programs.
2. Includes participation certificates reclassified as debt beginning Oct. 1, 1976.
3. On-budget since Sept. 30, 1976.
4. Consists of debentures issued in payment of Federal Housing Administration insurance
claims. Once issued, these securities may be sold privately on the securities market.
5. Certificates of participation issued before fiscal year 1969 by the Government National
Mortgage Association acting as trustee for the Farmers Home Administration; the Department
of Health, Education, and Welfare; the Department of Housing and Urban Development; the
Small Business Administration; and the Veterans Administration.
6. Off-budget.
7. Includes outstanding noncontingent liabilities: notes, bonds, and debentures. Includes
Federal Agricultural Mortgage Corporation; therefore, details do not sum to total. Some data
are estimated.
8. Excludes borrowing by the Farm Credit Financial Assistance Corporation, which is
shown on line 17.
9. Before late 1982, the association obtained financing through the Federal Financing Bank
(FFB). Borrowing excludes that obtained from the FFB, which is shown on line 22.
28,325
28,698
28,451
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
18,515
n.a.
9,810
18,684
n.a.
10,014
18,719
n.a.
9,732
10. The Financing Corporation, established in August 1987 to recapitalize the Federal
Savings and Loan Insurance Corporation, undertook its first borrowing in October 1987.
11. The Farm Credit Financial Assistance Corporation, established in January 1988 to
provide assistance to the Farm Credit System, undertook its first borrowing in July 1988.
12. The Resolution Funding Corporation, established by the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989, undertook its first borrowing in October
1989.
13. The FFB, which began operations in 1974, is authorized to purchase or sell obligations
issued, sold, or guaranteed by other federal agencies. Because FFB incurs debt solely for the
purpose of lending to other agencies, its debt is not included in the main portion of the table to
avoid double counting.
14. Includes FFB purchases of agency assets and guaranteed loans; the latter are loans
guaranteed by numerous agencies, with the amounts guaranteed by any one agency generally
being small. The Farmers Home Administration entry consists exclusively of agency assets,
whereas the Rural Electrification Administration entry consists of both agency assets and
guaranteed loans.
Securities Markets and Corporate Finance
1.45
NEW SECURITY ISSUES
29
State and Local Governments
Millions of dollars
Type of issue or issuer,
or use
Apr.'
May
July
1 All issues, new and refunding1
384,311
357,875
409,497'
31,867
20,239
23,867'
28,181
29,816
34,009
44,649
27,393
By type of issue
2 General obligation
3 Revenue
144,056
238,204
130,471
227,404
146,028
263,468'
8,564
23,302
7,416
12,823
9,160
14,707'
9,637
18,545
7,120
22,695
9,627
24,382
12,222
32,427
6,842
20,552
By type of issuer
4 State
5 Special district or statutory authority2
6 Municipality, county, or township . . .
49,795
253,536
78,962
47,365
234,237
76,273
31,568
298,506'
79,423
2,210
23,033
6,624
1,170
14,569
4,500
1,684
18,548
3,634
2,767
20,959
4,456
1,311
22,698
5,807
2,150
25,671
6,188
3,224
35,720
5,705
2,252
19,681
5,461
7 Issues for new capital
264,697
228,357
223,829
20,669
12,157
15,118'
17,808
19,721
23,677
34,142
22,485
70,394
23,809
10,251
n.a.
22,339
97,736
65,426
20,546
9,242
n.a.
19.050
80,438
70,968
25,268
10,008
n.a.
18,716'
60,645'
6,538
1,384
1,152
n.a.
1.708
5,392
3,620
1,890
250
n.a.
1.470
3,126
3,211'
1,803
411
n.a.
2.051
6,166
4,928
477
908
n.a.
2.454
5,564
5,480
2,306
794
n.a.
1.959
4,481
7,310
1,762'
306
n.a.
2.159
6,547'
8,240
3,492
843
n.a.
4.144
11,610
4,323
8
9
10
11
12
13
By use of proceeds
Education
Transportation
Utilities and conservation
Social welfare
Industrial aid
Other purposes
SOURCE: Securities Data Company beginning January 1990; Investment Dealer's Digest
before then.
1. Par amounts of long-term issues based on date of sale.
2. Includes school districts.
1.46
NEW SECURITY ISSUES
4,011
8,248
US. Corporations
Millions of dollars
2005
Type of issue, offering,
or issuer
1
1 All issues
By type of offering
3 Sold in the United States
2003
2004
2006
2005
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
1,815,569
2,070,680
2,438,989
217,135
242,978
188,865
211,135
260,482
180,232
251,880
279,027
1,692,260
1,923,094
2,323,735
209,117
232,645
180,827
204,973
247,142
172,401
239,524
269,135
1,579,311
112 949
1,737,342
185 752
2,141,496
182 238
185.344
23 772
209.801
22 844
163.400
17 428
189.807
15 166
221.356
25 787
155.724
16 676
213,104
26 420
241,092
28 043
20,701
21,942
22,221
2.713
2.816
1.184
985
1.959
1.763
2,603
2,032
362,340
1,329,920
259,968
1,663,127
216,072
2,107,662
24,247
184,869
20,936
211,709
32,935
147,893
25,099
179,874
29,320
217,822
27,064
145,336
33,141
206,383
28,556
240,579
182,132
147,585
115,255
8,018
10,333
8,037
6,162
13,339
7,831
12,356
9,892
123,309
58,823
147,585
n.a.
115,255
n.a.
8,018
n.a.
10,333
n.a.
8,037
n.a.
6,162
n.a.
13,339
n.a.
7,831
n.a.
12,356
n.a.
9,892
n.a.
44,416
78,893
64.345
83,240
54.713
60,541
4.324
3,694
7,375
2,958
5.713
2,324
4.238
1,924
6.839
6,500
3.301
4,530
6.008
6,348
5.341
4,551
MEMO
5 Private placements, domestic
By industry group
7 Financial
8 Stocks3
By type of offering
9 Public
10 Private placement4
By industry group
11 Nonfinancial
1. Figures represent gross proceeds of issues maturing in more than one year; they are the
principal amount or number of units calculated by multiplying by the offering price. Figures
exclude secondary offerings, employee stock plans, investment companies other than closedend, intracorporate transactions, Yankee bonds, and private placements listed. Stock data
include ownership securities issued by limited partnerships.
2. Monthly data include 144(a) offerings.
3. Monthly data cover only public offerings.
4. Data for private placements are not available at a monthly frequency.
SOURCE: Securities Data Company and the Board of Governors of the Federal Reserve
System.
30
Federal Reserve Bulletin Statistical Supplement • October 2006
1.47
OPEN-END INVESTMENT COMPANIES
Net Sales and Assets1
Millions of dollars
2006
Item
2004
2005'
Jan.
Feb.
Mar.
Apr.
May
June
July'
Aug.
1 Sales of own shares2
1,660,423
1,762,200
201,428
165,338
194,323
171,541
189,316
152,341
134,662
150,807
2 Redemptions of own shares
1,450,319
210,104
1,570,436
191,764
161,688
39,740
128,504
36,834
154,083
40,240
143,954
27,587
188,859
457
161,790
-9,449
130,809
3,853
139,135
11,672
6,193,664
6,864,636
7,152,932
7,169,845
7,313,245
7,460,010
7,236,296
7,228,283
7,235,158
7,394,386
304,816
5,888,848
303,068
6,561,568
314,604
6,838,328
333,544
6,836,301
330,511
6,982,734
353,879
7,106,131
354,156
6,882,140
348,534
6,879,749
340,109
6,895,049
354,944
7,039,442
4 Assets
4
5 Cash5
6 Other
1. Data include stock, hybrid, and bond mutual funds and exclude money market mutual
funds.
2. Excludes reinvestment of net income dividends and capital gains distributions and share
issue of conversions from one fund to another in the same group.
3. Excludes sales and redemptions resulting from transfers of shares into or out of money
market mutual funds within the same fund family.
1.51
DOMESTIC FINANCE COMPANIES
4. Market value at end of period, less current liabilities.
5. Includes all U.S. Treasury securities and other short-term debt securities.
SOURCE: Investment Company Institute. Data based on reports of membership, which
comprises substantially all open-end investment companies registered with the Securities and
Exchange Commission. Data reflect underwritings of newly formed companies after their
initial offering of securities.
Assets and Liabilities1
Billions of dollars, end of period; not seasonally adjusted
2005
2004
2006
Q4
Q1
Q2
Q3
Q4
Q1
Q2
ASSETS
2
Consumer
4
Real estate
5 LESS:
Reserves for unearned income
8 All other
9 Total assets
1 284 0
472.1
441.7
370.2
1 494 0
566.5
451.5
476.0
1 622 4
601.8
479.2
541.4
1 494 0
566.5
451.5
476.0
1 499 0
569.3
447.9
481.8
1 521 9
575.2
455.6
491.1
1 547 5
590.7
451.0
505.8
1 622 4
601.8
479.2
541.4
1 634 7
591.3
482.8
560.6
1 673 2
604.5
496.4
572.3
55.2
25 0
53.0
26 3
44.7
24 5
53.0
26 3
52.2
24 6
51.6
24 2
45.4
26 6
44.7
24 5
44.3
23 4
45.2
23 5
1 203 7
694.1
1 414 7
673.8
1 553 2
535.7
1 414 7
673.8
1 422 2
653.2
1 446 1
664.6
1 475 5
537.4
1 553 2
535.7
1 566 9
526.9
1 604 5
500.7
1,897.8
2,088.5
2,088.8
2,088.5
2,075.4
2,110.7
2,012.9
2,088.8
2,093.8
2,105.3
106.9
145.1
136.9
175.3
142.1
160.0
136.9
175.3
133.3
161.2
129.9
148.8
138.8
146.0
142.1
160.0
137.4
151.0
137.5
152.7
202.8
743.2
475.6
224.1
257.7
817.4
471.8
229.4
312.2
806.5
423.6
244.4
257.7
817.4
471.8
229.4
254.4
849.5
443.4
233.7
260.0
865.1
457.2
249.7
271.0
753.8
497.2
206.2
312.2
806.5
423.6
244.4
318.1
812.6
426.6
248.1
326.7
833.9
418.2
236.4
1,897.8
2,088.5
2,088.8
2,088.5
2,075.4
2,110.7
2,012.9
2,088.8
2,093.8
2,105.3
LIABILITIES AND CAPITAL
10 Bank loans
11 Commercial paper
Debt
12 Owed to parent
14 All other liabilities
15 Capital, surplus, and undivided profits
16 Total liabilities and capital
NOTE: Some of the data presented in the table is available in the Board's monthly G.20
(422) statistical release, which is available at www.federalreserve.gov/releases.
1. Includes finance company subsidiaries of bank holding companies but not of retailers
and banks. Data are amounts carried on the balance sheets of finance companies; securitized
pools are not shown, as they are not on the books.
2. Before deduction for unearned income and losses. Excludes pools of securitized assets.
Securities Markets and Corporate Finance
1.52 DOMESTIC FINANCE COMPANIES
31
Owned and Managed Receivables'
Billions of dollars, amounts outstanding
Type of credit
Apr.
Seasonally adjusted
2
3
4
Consumer .
Real estate
Business . .
1,613.7
1,783.9
1,898.1
679.0
400.2
534.5
736.4
500.5
547.0
773.0
564.1
561.0
1,975.5
1,945.1
779.9
579.5
556.9
780.0
588.6
562.7
784.7
597.9
562.5
788.8
599.2
566.7
792.4
602.4
573.2
799.0
598.8
577.7
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'
1,624.1
1,795.4
1,910.9
686.1
250.1
79.0
45.3
97.7
743.9
298.3
74.1
50.4
143.7
781.4
278.0
85.3
66.3
172.3
783.8
277.3
87.6
65.6
174.2
777.0
267.7
89.1
64.8
168.9
778.8
267.2
91.7
63.7
168.6
782.6
267.1
93.8
65.3
170.9
785.4
258.5
95.0
67.5
172.7
792.1
262.8
97.8
69.5
174.5
123.7
5.5
33.8
51.0
400.6
320.2
50.0
98.2
4.8
23.1
51.3
501.3
422.0
54.0
112.6
4.2
14.9
47.8
565.0
489.8
51.6
111.0
4.1
14.5
49.5
580.1
504.9
51.8
116.9
4.1
14.4
51.0
586.1
511.0
51.9
115.4
4.0
15.4
52.7
583.3
507.9
52.7
113.6
4.0
15.3
52.6
591.2
515.1
53.6
119.9
3.9
15.3
52.5
598.4
521.7
54.4
116.2
3.9
15.1
52.4
594.2
517.4
54.9
26.7
3.8
537.4
69.6
15.7
39.3
14.6
284.3
88.0
196.3
87.8
21.8
3.5
550.2
84.8
15.1
44.9
24.8
273.4
87.8
185.6
93.3
18.9
4.8
564.5
105.5
15.2
61.2
29.0
281.9
93.6
188.3
91.8
18.6
4.8
557.7
103.3
15.5
59.0
28.9
281.0
93.8
187.2
89.1
18.4
4.8
562.9
106.8
15.7
62.3
28.8
281.9
95.2
186.6
89.7
18.2
4.5
568.9
110.2
16.0
65.0
29.3
284.4
97.3
187.1
88.2
17.9
4.5
572.7
108.9
16.1
63.4
29.3
288.7
100.1
188.6
89.3
17.8
4.5
579.3
110.1
16.2
64.5
29.3
291.6
101.5
190.1
92.1
17.5
4.3
584.2
112.8
16.7
65.8
48.4
2.2
44.2
2.1
22.1
12.5
9.6
25.1
44.8
2.2
40.6
2.0
23.6
11.5
12.1
30.2
28.8
2.7
26.0
.1
24.4
11.6
12.8
32.2
29.3
2.7
26.5
.1
22.9
10.1
12.8
32.0
29.8
2.7
27.0
.1
22.7
10.0
12.8
32.1
35.6
2.6
32.9
.1
15.7
9.7
6.0
34.7
35.9
2.6
33.1
.1
15.4
9.4
6.0
34.6
35.7
2.6
36.7
2.6
34.0
.1
16.8
10.9
5.9
34.3
NOTE: This table has been revised to incorporate several changes resulting from the
benchmarking of finance company receivables to the June 1996 Survey of Finance Companies. In that benchmark survey, and in the monthly surveys that have followed, more-detailed
breakdowns have been obtained for some components. In addition, previously unavailable
data on securitized real estate loans are now included in this table. The new information has
resulted in some reclassification of receivables among the three major categories (consumer,
real estate, and business) and in discontinuities in some component series between May and
June 1996.
Includes finance company subsidiaries of bank holding companies but not of retailers and
banks. Data in this table also appear in the Board's G.20 (422) monthly statistical release,
available at www.federalreserve.gov/releases.
1. Owned receivables are those carried on the balance sheet of the institution. Managed
receivables are outstanding balances of pools upon which securities have been issued; these
balances are no longer carried on the balance sheets of the loan originator. Data are shown
1,930.9
1,970.5
15.2
9.2
6.0
34.6
291.7
101.3
190.4
91.9
before deductions for unearned income and losses. Components may not sum to totals
because of rounding.
2. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies.
3. Includes personal cash loans, mobile home loans, and loans to purchase other types of
consumer goods, such as appliances, apparel, boats, and recreation vehicles.
4. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
5. Credit arising from transactions between manufacturers and dealers—that is, floor plan
financing.
6. Includes loans on commercial accounts receivable, factored commercial accounts, and
receivable dealer capital; small loans used primarily for business or farm purposes; and
wholesale and lease paper for mobile homes, campers, and travel trailers.
32
Federal Reserve Bulletin Statistical Supplement • October 2006
1.53
MORTGAGE MARKETS
Mortgages on New Homes
Millions of dollars except as noted
2006
Item
2003
2004
2005
Feb.
Mar.
Apr.
May
June
July
Aug.
Terms and y elds in primary and secondary markets
PRIMARY MARKETS
1
2
3
4
5
Terms]
Purchase price (thousands of dollars)
Amount of loan (thousands of dollars)
Loan-to-price ratio (percent)
Maturity (years)
Fees and charges (percent of loan amount)2
Yield (percent per year)
6 Contract rate1
8 Contract rate (HUD series)4
272.1
205.3
77.9
28.7
.61
292.0
215.0
76.0
28.8
.51
326.8
238.5
75.3
29.2
.54
338.1
248.2
75.4
29.3
.52
341.8
254.8
76.4
29.7
.59
335.0
248.2
76.5
29.5
.63
350.0
255.4
75.2
29.5
.65
355.5
258.5
75.0
29.4
.70
346.0
253.2
75.5
29.2
.67
343.1
248.9
74.8
29.5
.69
5.71
5.80
n.a.
5.68
5.75
n.a.
5.86
5.93
n.a.
6.32
6.40
n.a.
6.45
6.53
n.a.
6.55
6.64
n.a.
6.60
6.69
n.a.
6.69
6.79
n.a.
6.71
6.81
n.a.
6.77
6.87
n.a.
n.a.
5.03
n.a.
5.19
n.a.
5.13
n.a.
5.44
n.a.
5.59
n.a.
5.84
n.a.
5.99
n.a.
6.08
n.a.
6.10
n.a.
5.81
SECONDARY MARKETS
Yield (percent per year)
10 GNMA securities6
Activity in secondary markets
FEDERAL NATIONAL MORTGAGE ASSOCIATION
Mortgage holdings (end of period)
11 Total
898,445
n.a.
n.a.
904,555
n.a.
n.a.
727,545
n.a.
n.a.
721,189
n.a.
n.a.
721,544
n.a.
n.a.
730,367
n.a.
n.a.
733,786
n.a.
n.a.
730,906
n.a.
n.a.
731,439
n.a.
n.a.
726,801
n.a.
n.a.
14 Mortgage transactions purchased (during period)
572,852
262,646
146,641
11,417
14,165
23,042
18,704
18,697
15,133
15,927
Mortgage commitments (during period)
15 Issued7
16 To sells
522,083
33 010
149,429
8 828
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
644,436
n.a.
n.a.
652,936
n.a.
n.a.
710,017
n.a.
n.a.
705,320
n.a.
n.a.
715,407
n.a.
n.a.
723,774
n.a.
n.a.
723,068
n.a.
n.a.
722,209
n.a.
n.a.
711,018
n.a.
n.a.
706,979
n.a.
n.a.
n.a.
713,260
n.a.
365,148
n.a.
397,867
n.a.
33,231
n.a.
26,769
n.a.
26,620
n.a.
25,446
n.a.
28,907
n.a.
30,857
n.a.
31,893
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
13
Conventional
FEDERAL HOME LOAN MORTGAGE CORPORATION
Mortgage holdings (end ofperiod)*
17 Total
18 FHA/VA insured
19
Conventional
Mortgage transactions (during period)
21 Sales
22 Mortgage commitments contracted (during period)9
1. Weighted averages based on sample surveys of mortgages originated by major institutional lender groups for purchase of newly built homes; compiled by the Federal Housing
Finance Board in cooperation with the Federal Deposit Insurance Corporation.
2. Includes all fees, commissions, discounts, and "points" paid (by the borrower or the
seller) to obtain a loan.
3. Average effective interest rate on loans closed for purchase of newly built homes,
assuming prepayment at the end of ten years.
4. Average contract rate on new commitments for conventional first mortgages; from U.S.
Department of Housing and Urban Development (HUD). Based on transactions on the first
day of the subsequent month.
5. Average gross yield on thirty-year, minimum-downpayment first mortgages insured by
the Federal Housing Administration (FHA) for immediate delivery in the private secondary
market. Based on transactions on first day of subsequent month.
6. Average net yields to investors on fully modified pass-through securities backed by
mortgages and guaranteed by the Government National Mortgage Association (GNMA),
assuming prepayment in twelve years on pools of thirty-year mortgages insured by the
Federal Housing Administration or guaranteed by the Department of Veterans Affairs.
7. Does not include standby commitments issued but includes standby commitments
converted.
8. Includes participation loans as well as whole loans.
9. Includes conventional and government-underwritten loans. The Federal Home Loan
Mortgage Corporation's mortgage commitments and mortgage transactions include activity
under mortgage securities swap programs, whereas the corresponding data for the Federal
National Mortgage Association exclude swap activity.
Real Estate
1.54
33
MORTGAGE DEBT OUTSTANDING1
Millions of dollars, end of period
Type of holder and property
1 All holders .
2
3
4
5
By type of property
One- to four-family residences
Multifamily residences
Nonfarm, nonresidential
Farm
By type of holder
6 Major financial institutions . . .
7
Commercial banks2
One- to four-family
9
Multifamily
10
Nonfarm, nonresidential .
11
Farm
12 Savings institutions3
13
One- to four-family
14
Multifamily
15
Nonfarm, nonresidential .
16
Farm
17 Life insurance companies . .
18
One- to four-family
19
Multifamily
20
Nonfarm, nonresidential .
Farm
21
22 Federal and related agencies
23 Government National Mortgage Association
24
One- to four-family
25
Multifamily
26 Farmers Home Administration4
27
One- to four-family
28
Multifamily
29
Nonfarm, nonresidential
30
Farm
31 Federal Housing Admin, and Dept. of Veterans Affairs . . .
32
One- to four-family
33
Multifamily
34 Resolution Trust Corporation
35
One- to four-family
36
Multifamily
37
Nonfarm, nonresidential
38
Farm
39
40 Federal Deposit Insurance Corporation
One- to four-family
41
Multifamily
42
Nonfarm, nonresidential
43
Farm
44
Federal
National Mortgage Association
45
One- to four-family
46
Multifamily
47
48 Federal Land Banks
49
One- to four-family
50
Farm
51 Federal Home Loan Mortgage Corporation
52
One- to four-family
53
Multifamily
54 Federal Agricultural Mortgage Corporation
Farm
55 Mortgage pools or trusts5
56
Government National Mortgage Association
One- to four-family
57
58
Multifamily
59 Federal Home Loan Mortgage Corporation
60
One- to four-family
61
Multifamily
62 Federal National Mortgage Association . . .
63
One- to four-family
64
Multifamily
65 Farmers Home Administration4
66
One- to four-family
67
Multifamily
68
Nonfarm, nonresidential
69
Farm
70
Private
mortgage conduits
71
One- to four-family1"
72
Multifamily
73
Nonfarm, nonresidential
74
Farm
75
Federal
Agricultural Mortgage Corporation
76
Farm
77 Individuals and others7 . . .
78
One- to four-family
79
Multifamily
80
Nonfarm, nonresidential
81
Farm
Q2
Q3
Q4
Q1
Q2>
8,368,137'
9,374,760""
10,677,150'
11,320,160'
11,750,270'
12,146,150'
12,446,890'
12,756,650
6,374,707'
484,885'
1,383,038'
125,507
7,175,012'
555,467'
1,510,698'
133,583
608,572'
1,683,264'
141,710
8,744,214'
640,165'
1,789,538'
146,241'
658,067'
1,856,503'
148,337
9,380,399'
679,767'
1,938,082'
147,902
694,034'
1,993,993'
150,461'
9,838,021
703,388
2,060,561
154,676
3,089,434
2,058,426
1,222,126
94,178
704,097
38,025
780,989
631,057
68,624
80,730
577
250,019
4,657
36,816
195,040
13,506
3,387,175
2,256,037
1,346,908
104,901
763,579
40,649
870,194
702,784
77,895
88,884
632
260,944
4,403
38,556
203,946
14,039
3,925,678
2,595,318
1,568,000
119,294
863,467
44,557
1,057,036
874,518
87,445
94,475
598
273,324
4,998
40,453
214,085
13,788
4,183,512'
2,791,830'
1,695,436'
129,102'
921,065'
46,227'
1,113,291'
921,971'
95,058'
95,658'
604
278,391
5,082
41,213
218,065
14,031
4,317,224
2,895,448
1,750,876
135,547
961,886
47,139
1,140,910
946,883
96,732
96,690
605
280,866
5,122
41,585
220,005
14,154
4,394,767'
2,956,572'
1,774,348'
140,121
994,513
47,590
1,152,732
954,974
98,168
98,974
616
285,463'
4,585'
42,440'
224,258'
14,180
4,505,599'
3,024,873'
1,803,974'
145,471'
1,026,978'
48,450'
1,192,401'
990,190'
100,112'
101,423'
676'
288,325'
4,632'
42,822'
226,545'
14,326'
4,642,797
3,131,205
1,870,311
147,213
1,063,834
49,847
1,221,017
1,013,538
102,198
104,585
697
290,575
4,669
43,156
228,309
14,441
433,565
5
5
0
72,377
14,908
11,669
42,101
3,700
3,854
1,262
2,592
0
0
0
537,131
50
50
0
69,546
13,964
11,613
40,529
3,439
4,192
1,304
553,821
44
44
0
70,624
13,464
11,556
42,370
3,235
4,733
1,338
3,394
0
0
0
0
0
11
2
553,433'
39
39
0
70,995
13,274
11,527
42,957
3,237
4,784
1,356
3,429
0
0
0
0
0
9
2
6
0
249,684'
219,338'
30,346'
54,769
3,223
51,546
60,986
21,736'
39,250'
838
838
554,997'
34
34
0
72,937
13,014
11,493
45,213
3,217
4,819
1,370
3,449
0
0
0
0
0
8
1
2
5
0
255,006'
219,279'
35,727'
54,640
3,215
51,425
61,481
20,396'
41,085'
804
804
555,852'
32
32
0
73,575
12,976
11,451
45,954
3,193
4,626
1,396
3,231
0
0
0
0
0
6
1
1
4
0
255,028'
219,301'
35,727'
55,233
3,250
51,983
62,935
20,878'
42,057'
787
787
557,975
31
31
0
75,097
12,975
11,423
47,499
3,200
4,830
1,615
3,215
0
0
0
0
0
4
1
1
7
0
249,515
222,535
26,980
52,793
3,106
49,687
61,360
23,389
37,971
887
887
552,763'
36
36
0
72,044
13,124
11,500
44,172
3,247
4,703
1,359
3,344
0
0
0
0
0
9
1
2
5
0
251,627'
218,347'
33,280'
55,489
3,265
52,224
61,207
20,903'
40,304'
832
832
0
0
0
0
23
4
4
15
0
239,433
219,867
19,566
49,307
2,901
46,406
60,270
27,274
32,996
990
990
46
7
9
30
0
185,801
172,230
13,571
46,257
2,722
43,535
63,887
35,851
28,036
966
966
255,050
219,323
35,727
56,674
3,335
53,339
63,704
21,133
42,571
787
787
0
0
0
796,364'
489,240'
58,743'
248,381'
0
367
367
4,457,045'
473,738
444,820
28,918
1,157,339
1,141,241
16,098
1,857,045
1,780,884
76,161
0
0
0
0
0
967,920'
610,290'
66,620'
291,010'
0
1,003
1,003
4,959,720'
441,235
409,089
32,147
1,204,239
1,187,489
16,750
1,895,761
1,819,931
75,830
0
0
0
0
0
1,417,547'
1,007,730'
72,998'
336,819'
0
938
938
5,273,327'
420,915
388,057
32,858
1,245,930
1,228,600
17,330
1,900,149
1,824,143
76,006
0
0
0
0
5,521,957'
411,338
378,109
33,229
1,279,664
1,261,865
17,799
1,924,810
1,847,818
76,992
0
0
0
0
5,780,012'
405,246'
371,484'
33,762
1,330,795
1,312,284
18,511
1,940,079
1,862,476
77,603
0
0
0
0
5,929,939'
403,236'
368,823'
34,413
1,375,148
1,356,020
19,128
1,972,793
1,893,881
78,912
0
0
0
0
6,067,118
405,848
370,882
34,966
1,400,955
1,381,468
19,487
2,005,027
1,924,826
80,201
0
0
0
0
1,705,458'
1,250,013'
78,981'
376,465'
0
875
875
1,905,310'
1,429,201'
81,559'
394,550'
0
835
835
2,103,057'
1,581,158'
89,494'
432,405'
0
835
835
2,177,463'
1,638,872'
91,314'
447,278'
0
1,298
1,298
2,253,476
1,692,865
93,655
466,956
0
1,813
1,813
890,170'
676,650'
76,030'
112,660'
24,830
993,409'
765,049'
79,200'
122,736'
26,424
1,237,935'
994,138'
83,737'
132,040'
28,021
1,309,887'
1,060,632'
85,049'
135,323'
28,883'
1,358,330'
1,103,658'
86,178'
139,194'
29,300
1,416,374'
1,156,528'
87,898'
142,714'
29,235
1,455,499'
1,190,559'
89,381'
145,813'
29,747'
1,488,756
1,219,266
89,561
149,377
30,552
3,954,968'
537,888
512,098
25,790
1,082,062
1,072,990
9,072
1,538,287
1,478,610
59,677
0
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 • October 2006
1.55 CONSUMER CREDIT1
Millions of dollars, amounts outstanding, end of period
2006
Holder and type of credit
2003
2004
2005
Jan.'
Feb.'
Mar.'
Apr.'
May'
June
Seasonally adjusted
1 Total
2,091,663'
2,202,598'
2,292,569'
2,309,040
2,305,083
2,303,932
2,311,892
2,327,059
2,338,581
2 Revolving
765,607'
1 326 056
795,663'
1,406,935
820,372'
1,472,197
826,176
1,482,864
819,866
1,485,217
819,230
1,484,703
822,164
1,489,728
831,106
1,495,953
839,780
1,498,801
Not seasonally adjusted
4 Total
By major holder
5 Commercial banks
6 Finance companies
8 Federal government and Sallie Mae
10 Nonfinancial business
11 Pools of securitized assets3
By major type of credit*
12 Revolving
13
Commercial banks
14 Finance companies
16
Federal government and Sallie Mae
18
19
Nonfinancial business
Pools of securitized assets3
21
22
Commercial banks
Finance companies
24
Federal government and Sallie Mae
26
27
Nonfinancial business
Pools of securitized assets3
2,119,860'
2,232,276'
2,323,403'
2,328,546
2,305,827
2,291,196
2,300,302
2,313,269
2,321,741
669,386
393,044
205,877
114,658
77,850
64,821'
594,224
704,270
492,346
215,384
98,363
91,271
63,955'
566,687
707,039
516,534
228,588
102,122
109,078
63,540'
596,502
706,578
517,133
229,177
104,435
109,342
62,005
599,875
696,350
501,444
227,935
104,449
109,974
60,478
605,196
697,480
499,555
227,343
104,469
98,058
59,856
604,436
704,643
503,342
229,458
104,426
99,327
58,606
600,499
713,077
498,677
230,466
104,082
100,637
58,119
608,211
694,734
506,755
230,434
102,635
101,906
57,584
627,692
786,225'
285,015
45,266
22,410
n.a.
23,848
20,835'
388,852
817,922'
314,649
50,382
23,244
n.a.
27,905
17,170'
384,572
843,416'
311,204
66,307
24,688
n.a.
40,755
15,781'
384,681
835,468
301,626
65,628
23,725
n.a.
40,376
15,663
388,449
819,096
289,424
64,802
23,489
n.a.
40,035
15,424
385,923
809,935
281,128
63,747
23,324
n.a.
39,656
15,220
386,860
817,383
287,984
65,316
23,782
n.a.
40,237
13,837
386,227
826,117
292,858
67,466
24,277
n.a.
40,837
13,039
387,640
835,233
291,029
69,467
24,706
n.a.
41,418
12,552
396,062
1 333 635
384,371
347,778
183,467
114,658
54,002
43,986
205,373
1,414,354
389,621
441,964
192,140
98,363
63,366
46,786
182,116
1,479,986
395,835
450,226
203,900
102,122
68,323
47,759
211,822
1,493,078
404,951
451,505
205,452
104,435
68,966
46,342
211,426
1,486,731
406,926
436,642
204,446
104,449
69,939
45,054
219,274
1,481,261
416,352
435,808
204,019
104,469
58,402
44,636
217,576
1,482,920
416,660
438,027
205,676
104,426
59,090
44,769
214,272
1,487,151
420,219
431,211
206,189
104,082
59,800
45,080
220,571
1,486,508
403,705
437,288
205,728
102,635
60,488
45,033
231,631
1. The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals, excluding loans secured by real estate. Data in this table also appear
in the Board's G.19 (421) monthly statistical release, available at www.federalreserve.gov/
releases.
2. Comprises motor vehicle loans, mobile home loans, and all other loans that are not
included in revolving credit, such as loans for education, boats, trailers, or vacations. These
loans may be secured or unsecured.
3. Outstanding balances of pools upon which securities have been issued; these balances
are no longer carried on the balance sheets of the loan originator.
4. Totals include estimates for certain holders for which only consumer credit totals are
available.
1.56 TERMS OF CONSUMER CREDIT1
Percent per year except as noted
2006
2005
Item
2003
2004
2005
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
INTEREST RATES
Commercial banks2
1 48-month new car
2 24-month personal
6.93
11.95
6.60
11.89
7.08
12.05
n.a.
n.a.
n.a.
n.a.
7.39
12.18
n.a.
n.a.
n.a.
n.a.
7.60r
12.58r
n.a.
n.a.
Credit card plan
3 All accounts
4 Accounts assessed interest
12.30
12.73
12.71
13.21
12.51
14.54
n.a.
n.a.
n.a.
n.a.
13.30
14.38
n.a.
n.a.
n.a.
n.a.
13.16r
14.77
n.a.
n.a.
3.40
9 72
4.36
8 96
5.46
9 03
5.39
8 73
5.13
8 64
5.54
9 41
5.35
9 17
5.59
9 44
5.96
9 62
5.30
9 56
61.4
57 5
60.5
56 8
60.0
57 6
61.2
57 5
62.6
57 9
61.8
57 7
61.1
57 7
60.9
57 5
61.0
57 6
61.2
57 5
95
100
89
100
88
98
88
98
88
98
90
98
91
98
91
98
91
99
89
99
26,295
14,613
24,888
15,136
24,133
16,228
24,706
17,174
24,522
16,894
24,766
16,303
25,490
16,599
24,986
16,567
24,788
16,645
26,126
16,817
Auto finance companies
5 New car
OTHER TERMS3
Maturity (months)
7 New car
Loan-to-value ratio
9 New car
10 Used car
Amount financed (dollars)
11 New car
12 Used car
1. The Board's series on amounts of credit covers most short- and intermediate-term credit
extended to individuals. Data in this table also appear in the Board's G.19 (421) monthly
statistical release, available at www.federalreserve.gov/releases.
2. Data are available for only the second month of each quarter.
3. At auto finance companies.
Flow of Funds
1.57
35
FUNDS RAISED IN U.S. CREDIT MARKETS1
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q4
Q1
Q2
Q3
Q4
Q1
Q2
Nonfinancial sectors
1,143.1
1,381.3
1,688.2
1,996.9
2,182.8
2,254.9
2,038.6
2,453.3
2,505.9
2,525.4
48.1
-294.9
-1.0
23.6
162.6
95.0
77.4
558.0
418.8
26.6
105.6
7.0
181.1
-83.0
-5.1
-.5
122.8
347.7
-87.2
4.4
687.7
529.5
40.3
110.2
7.7
156.4
-57.9
257.1
.5
159.4
132.3
-106.6
15.7
872.8
734.0
36.8
94.3
7.6
108.0
-35.1
398.4
-2.4
137.6
158.3
-77.7
5.5
998.2
800.4
70.0
119.8
8.0
105.5
16.8
362.5
-.6
130.5
77.7
12.5
20.4
1,262.4
1,054.6
48.4
151.3
8.1
114.6
-24.3
326.7
.3
140.9
138.3
97.8
73.5
1,299.4
1,068.6
55.8
169.0
5.9
130.3
49.8
570.4
-.7
188.2
34.3
108.4
76.3
1,126.3
901.8
51.4
167.7
5.3
101.8
5.8
26.5
-1.4
148.1
30.1
212.2
73.6
1,434.7
1,133.7
78.7
210.8
11.5
109.0
2.8
264.2
-.4
237.3
99.6
39.5
40.3
1,669.8
1,323.3
65.7
272.4
8.5
100.1
-89.9
368.1
.8
205.6
75.5
188.2
119.2
1,593.1
1,188.7
93.0
311.9
-.5
45.3
42.1
532.5
-1.0
77.5
213.5
263.5
48.3
1,289.9
1,002.8
53.9
222.6
10.6
59.0
40.1
-116.4
.2
160.0
207.3
136.6
14.2
1,155.1
859.2
44.2
236.5
15.3
153.2
580.2
550.1
341.9
196.8
11.3
15.5
-295.9
655.2
387.8
215.1
162.2
10.5
105.7
-5.6
808.4
171.4
15.5
148.0
7.8
143.9
257.6
986.0
185.9
81.8
96.5
7.7
120.3
396.0
1,093.4
426.2
175.2
239.6
11.5
115.3
361.9
1,192.8
535.7
240.0
286.6
9.1
127.3
327.0
1,017.5
501.1
284.8
212.0
4.4
166.5
569.7
1,284.3
602.0
248.0
336.1
17.9
127.2
25.1
1,325.4
647.5
309.2
316.7
21.6
216.5
263.9
1,338.4
622.9
258.7
357.8
6.4
175.7
368.9
1,135.9
793.1
466.9
297.3
28.9
65.0
531.5
1,096.8
646.5
364.0
257.7
24.8
123.4
-116.1
22 Foreign net borrowing in United States
63.0
-13.7
92.9
31.7
123.5
299.1
56.2
84.5
84.7
113.3
111.5
100.7
23
24
25
26
31.7
21.2
11.4
-1.3
15.8
-18.5
-7.3
-3.8
58.3
31.6
5.3
-2.3
12.9
28.7
-7.7
-2.1
62.8
61.8
2.5
-3.6
203.3
80.4
18.5
-3.1
6.2
41.3
12.1
-3.4
10.0
84.4
-5.3
-4.6
78.5
8.5
5.2
-7.4
59.1
17.9
39.5
-3.1
62.6
50.6
7.7
-9.3
-58.9
139.1
27.4
-6.9
1,129.4
1,474.2
1,719.9
2,120.3
2,481.9
2,311.1
2,123.0
2,538.0
2,619.2
2,636.9
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
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total domestic plus foreign
912.9
Financial sectors
937.8
866.9
1,008.8
876.7
1,010.4
714.4
1,170.7
772.9
1,490.4
1,109.5
1,342.0
131.7
235.2
199.7
160.2
7.0
42.5
4.9
-27.4
304.1
338.5
276.1
18.7
25.5
2.2
-63.8
219.8
326.8
348.0
21.1
6.8
8.2
-52.9
243.7
330.5
455.1
-7.2
31.2
8.3
55.1
65.0
53.0
569.6
33.5
74.1
26.3
107.6
-45.5
-51.5
830.8
37.4
89.4
42.1
180.1
-209.6
47.3
618.2
16.8
38.8
22.7
301.5
-84.2
136.6
754.4
-44.3
87.4
19.3
243.5
-243.9
163.4
535.6
29.4
25.2
19.9
219.3
200.9
191.8
827.1
35.0
25.9
-9.6
261.4
144.8
327.6
326.6
9.6
16.7
22.9
308.5
299.5
307.5
405.8
-36.5
44.6
12.7
60.0
27.3
.0
-.7
235.2
199.7
156.6
86.4
2.6
15.6
-1.6
52.9
-2.0
1.5
.6
304.1
338.5
225.5
10.9
3.2
1.4
1.1
49.7
-23.4
2.0
2.0
219.8
326.8
177.2
66.2
24.5
-1.7
23.7
49.2
6.1
2.2
2.9
243.7
330.5
210.5
111.0
31.9
6.4
14.4
77.7
64.4
2.3
3.0
65.0
53.0
328.5
134.4
98.4
15.2
34.6
68.6
93.9
6.1
9.7
-45.5
-51.5
375.3
260.3
220.7
-26.6
99.4
149.3
-4.9
1.5
-1.6
-209.6
47.3
432.3
108.7
73.0
11.2
107.1
47.1
49.4
3.1
2.3
-84.2
136.6
688.7
-27.2
92.8
-5.2
267.1
82.8
6.9
.3
.4
-243.9
163.4
719.9
-150.2
66.0
28.0
99.4
61.2
13.4
8.1
.6
200.9
191.8
804.4
202.2
2.4
-33.4
38.9
62.5
9.6
-.2
2.8
144.8
327.6
301.3
22.5
66.6
35.1
137.0
195.0
-24.7
6.9
1.3
299.5
307.5
360.1
50.8
55.3
4.7
85.6
28 Total net borrowing by financial sectors
29
30
31
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
By borrowing sector
Commercial banking
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Finance companies
Real estate investment trusts (REITs)
Brokers and dealers
Funding corporations
36
Federal Reserve Bulletin Statistical Supplement • October 2006
1.57
FUNDS RAISED IN U.S. CREDIT MARKETS1—Continued
Billions of dollars; quarterly data at seasonally adjusted annual rates
Transaction category or sector
Q4
Qi
Q2
Q3
Q4
Qi
Q2
47 Total net borrowing, all sectors . . . .
1,693.9
2,067.2
2,341.1
2,728.7
2,997.0
3,492.4
3,025.5
3,293.7
3,311.0
4,109.5
3,746.4
3,193.2
48
49
50
51
52
53
54
55
56
211.6
-294.9
433.9
23.6
343.9
113.3
118.6
562.8
181.1
-94.5
-5.1
642.1
122.8
605.4
-75.8
26.1
689.9
156.4
-63.5
257.1
547.2
159.4
511.9
-80.2
20.2
881.0
108.0
-75.1
398.4
571.9
137.6
642.1
-92.6
34.5
1,006.5
105.5
134.7
362.5
117.5
130.5
709.1
48.5
90.9
1,288.7
114.6
286.6
326.7
-96.6
140.9
1,049.6
153.6
159.8
1,341.5
130.3
236.2
570.4
-163.0
188.2
693.8
137.3
111.8
1,149.0
101.8
317.3
26.5
51.1
148.1
868.9
162.6
156.4
1,454.0
109.0
324.8
264.2
-80.9
237.3
643.6
74.0
58.1
1,689.7
100.1
188.5
368.1
393.5
205.6
920.5
262.7
141.9
1,583.4
45.3
366.1
532.5
471.3
77.5
590.6
280.8
55.7
1,312.7
59.0
289.7
-116.4
607.2
160.0
752.3
127.5
51.9
1,167.8
153.2
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
Funds raised through mutual funds and corporate equities
57 Total net issues
242.9
303.2
227.4
427.3
364.7
294.6
355.8
112.4
-104.5
62.1
76.3
-132.2
58 Corporate equities
59
Nonfmancial corporations
60
Foreign shares purchased by U.S. residents .
61
Financial corporations
62 Mutual fund shares
5.3
118.2
106.7
16.8
237.6
98.3
-48.1
109.1
37.3
204.9
46.4
-41.6
17.0
71.0
181.1
138.7
-42.0
118.0
62.7
288.6
66.5
-126.6
84.8
108.3
298.2
-12.5
-152.7
38.8
101.4
307.0
-33.5
-264.3
160.2
70.6
389.3
-126.9
-300.1
98.5
74.8
239.3
-305.5
-469.9
138.7
25.7
200.9
-148.4
-420.0
171.2
100.4
210.5
-384.5
-558.0
164.2
9.3
460.8
-403.8
-554.8
69.7
81.3
271.6
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
Q4
Q1
Q2
Q3
Q4
Q1
Q2
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
1,693.9
2,067.2
2,341.1
2,728.7
3,492.4
3,025.5
3,293.7
3,311.0
4,109.5
3,746.4
3,193.2
39.7
-72.2
26.1
2.1
72.1
11.6
241.9
1,412.2
33.7
357.9
339.5
23.9
-12.2
6.7
56.2
28.0
-8.7
57.9
-125.0
36.3
2.1
138.3
26.3
-5.6
.0
246.0
199.7
143.7
136.7
-5.3
68.9
25.3
3.4
-98.8
-4.3
7.1
93.4
6.0
305.3
1,758.5
39.9
205.2
191.6
-.6
4.2
10.0
44.4
41.5
9.0
130.9
-36.0
-53.8
9.7
267.3
126.6
3.2
.0
304.7
338.5
213.6
49.8
8.6
92.4
-37.0
176.7
55.4
26.0
-.8
86.5
9.5
422.7
1,741.8
77.7
404.4
393.8
6.2
3.1
1.3
33.4
44.2
39.9
233.0
-13.6
-50.7
12.7
-17.7
138.7
8.6
3.7
224.1
326.8
183.7
103.7
21.5
28.4
-60.8
187.4
137.3
-1.0
1.2
52.5
-2.7
514.0
2,027.3
37.2
299.5
323.3
-43.0
8.6
10.6
126.0
51.2
67.0
180.6
57.2
11.2
6.0
-95.9
138.0
36.2
.7
236.5
330.5
217.0
122.7
28.1
79.6
98.0
322.7
209.2
36.8
11.7
61.8
3.3
752.1
1,922.2
51.2
582.2
548.0
20.3
.0
13.9
172.8
39.8
73.6
173.0
-5.3
27.2
4.7
-124.9
116.6
11.2
3.8
46.2
53.0
329.6
214.9
87.9
-29.2
94.0
693.5
500.5
76.7
13.9
95.2
7.2
743.5
2,055.3
55.7
772.7
672.3
87.8
-2.0
14.8
261.4
44.7
50.6
142.3
23.2
-5.1
.1
-34.8
127.8
12.7
4.2
-105.3
-51.5
338.7
246.7
177.3
-171.9
166.0
-27.6
-185.9
27.3
9.2
120.9
.9
753.2
2,299.9
2.0
965.6
745.0
218.0
-9.4
12.0
2.1
45.8
89.0
198.7
-3.5
60.0
8.5
-169.6
193.0
6.4
11.7
-54.8
47.3
428.4
81.8
37.6
75.7
274.1
406.3
300.9
34.6
14.1
62.8
-6.2
717.0
2,170.5
31.8
591.4
428.0
119.7
29.4
14.4
233.6
44.3
49.2
81.3
4.6
-23.6
11.4
-118.5
127.3
4.0
3.5
-88.8
136.6
675.0
18.0
120.1
230.6
38.7
521.9
384.4
.7
13.7
129.3
-6.3
860.0
1,929.1
56.9
649.2
514.9
174.8
-46.0
5.5
150.6
21.4
107.4
94.3
17.7
-58.6
8.1
32.6
83.8
-.8
7.1
-263.5
163.4
698.3
112.0
89.1
-215.3
175.5
499.6
356.6
50.9
14.8
76.4
.8
999.0
2,611.0
14.9
381.1
306.7
56.2
9.4
8.8
138.6
33.2
22.1
66.9
35.0
12.2
3.0
215.0
92.2
-3.4
4.8
145.3
191.8
767.2
256.5
20.8
273.3
-59.7
320.5
180.6
54.9
11.1
66.7
7.3
731.6
2,694.3
63.0
876.4
792.1
73.4
6.8
4.1
82.1
55.5
60.1
134.1
43.4
-14.1
5.4
95.3
200.7
10.1
3.0
67.5
327.6
288.7
98.1
40.5
-51.3
308.3
-21.2
-151.0
59.5
7.5
53.3
9.4
854.0
2,360.4
35.3
832.5
665.9
175.3
-8.2
-.5
142.4
36.5
48.1
84.4
72.8
-14.0
17.8
148.9
135.5
18.5
9.1
136.3
307.5
341.5
.7
57.7
94.7
-145.9
1,693.9
2,067.2
2,341.1
2,728.7
2,997.0
3,492.4
3,025.5
-.4
-4.0
2.4
126.9
12.0
-113.6
231.0
116.2
232.5
114.5
5.3
237.6
399.9
146.1
50.2
271.4
25.9
-51.9
,428.3
4.3
.0
1.3
6.8
-28.0
156.8
314.6
68.5
428.5
23.7
98.3
204.9
-84.3
3.1
77.2
253.3
14.4
-23.4
761.0
3.2
.0
1.0
21.0
17.4
-8.3
325.4
50.0
-16.7
106.6
46.4
181.1
70.8
-87.0
60.1
183.3
22.2
-82.7
552.9
-.9
.0
.6
36.6
-14.2
80.1
305.8
61.8
-207.5
227.2
138.7
288.6
22.1
132.5
66.8
163.4
-1.0
20.2
556.6
-3.2
.0
.7
89.9
19.2
89.8
282.9
246.6
-136.5
83.2
66.5
298.2
189.5
166.6
33.1
164.2
27.7
-56.0
1,647.0
-3.2
.0
.1
136.5
108.2
115.6
178.3
315.4
-130.8
-16.4
-12.5
307.0
176.8
229.4
34.4
153.9
22.2
-94.2
1,946.3
-14.5
.0
.8
420.0
1.6
43.9
232.9
263.7
-71.7
560.7
-33.5
389.3
209.7
3.7
15.2
84.5
37.0
-43.9
398.7
2.8
.0
1.1
-210.5
73.1
-31.6
259.9
251.1
11.7
387.9
-126.9
239.3
262.1
73.1
18.1
158.9
7.5
-86.1
1,457.4
-7.2
.0
.9
91.2
-36.7
-44.4
482.8
376.1
216.4
298.3
-305.5
200.9
312.7
20.8
20.0
31.0
14.9
-93.4
1,061.4
-19.5
.0
46.6
-11.4
46.2
282.3
193.6
351.6
172.7
-148.4
210.5
173.7
-128.4
10.9
165.5
51.0
-30.7
16.4
-2.3
.0
.6
229.1
-32.6
66.8
224.4
380.0
133.1
512.7
-384.5
460.8
130.8
244.2
3.3
113.3
31.1
-52.5
1,101.8
2.0
.0
.8
239.7
-154.2
31.2
309.5
299.5
222.6
255.5
-403.8
271.6
318.4
155.3
12.5
159.0
-5.7
-41.9
845.7
4,924.1
4,348.1
3,787.9
4,606.0
6,206.3
6,959.4
5,523.5
6,042.8
5,951.4
5,492.6
6,906.5
5,710.8
-1.2
76.4
17.3
143.4
32.6
-321.6
-12.9
17.2
-51.0
20.1
-219.2
-.6
21.5
7.2
36.1
2.3
-56.7
-.3
53.5
-4.4
-23.3
-42.6
-65.0
-.3
62.0
15.0
-138.0
-14.5
271.5
-.5
80.9
22.4
-194.9
-2.2
671.2
.4
384.9
33.6
420.9
-87.0
-695.3
.8
-243.3
-37.4
175.7
-23.5
435.7
1.7
18.3
1.4
-103.7
9.4
-222.1
-.1
21.4
41.1
47.7
-12.3
300.5
-4.8
242.6
25.2
266.0
-89.3
-330.7
.0
249.3
-.8
157.3
-25.4
-468.9
9.0
-.3
21.1
5.7
-.5
8.7
-1.6
-.7
148.9
-8.9
.0
39.6
27.9
15.3
-4.4
-50.2
-18.8
-.4
55.1
-11.9
-.3
31.3
21.9
.5
-29.9
-19.3
.0
-141.9
7.5
.0
81.9
-13.6
.1
82.1
4,947.4
4,580.2
3,631.4
4,657.5
5,987.3
6,417.6
5,430.1
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Netflowsthrough credit markets
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
Other financial sources
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank transactions
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Corporate equities
Mutual fund shares
Trade payables
Security credit
Life insurance reserves
Pension fund reserves
Taxes payable
Noncorporate proprietors' equity
Miscellaneous
54 Total 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 .. .
1. Data in this table also appear in the Board's Z.I quarterly statistical release, tables F.I
and F.5, available at www.federalreserve.gov/releases.
3,311.0
2. Excludes corporate equities and mutual fund shares.
38
1.59
Federal Reserve Bulletin Statistical Supplement • October 2006
SUMMARY OF CREDIT MARKET DEBT OUTSTANDING'
Billions of dollars, end of period
2004
Transaction category or sector
2001
2002
2003
2005
2006
2004
Q4
Ql
Q2
Q3
Q4
Ql
Q2
Nonfinancial sectors
1 Total credit market debt owed by
domestic nonfinancial sectors
19,217.9
20,599.2
22,319.8
24,331.5
24,331.5
24,840.0
25,335.6
25,965.2
26,644.6
27,214.0
27,648.0
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
177.9
3,352.7
26.8
1,603.5
2,578.0
1,239.4
934.2
7 400 6
5,639.8
427.4
1,215.5
118.0
1,904.9
119.9
3,609.8
27.3
1,762.9
2,710.3
1,132.8
949.9
8,273.4
6,373.8
464.2
1,309.8
125.6
2,012.9
84.8
4,008.2
24.9
1,900.5
2,868.6
1,087.5
955.4
9,271.6
7,174.2
534.2
1,429.6
133.6
2,118.4
101.6
4,370.7
24.3
2,031.0
2,946.3
1,100.0
975.8
10,548.8
8,243.6
582.6
1,580.9
141.7
2,233.0
101.6
4,370.7
24.3
2,031.0
2,946.3
1,100.0
975.8
10,548.8
8,243.6
582.6
1,580.9
141.7
2,233.0
115.3
4,535.6
24.1
2,085.7
2,954.9
1,118.3
988.6
10,801.4
8,444.9
595.5
1,618.1
143.0
2,216.1
114.4
4,493.1
23.7
2,134.4
2,962.4
1,170.6
1,018.2
11,179.5
8,744.5
615.1
1,673.7
146.2
2,239.2
119.6
4,566.0
23.6
2,176.2
2,987.3
1,183.8
1,015.6
11,606.4
9,087.4
631.6
1,739.2
148.3
2,286.6
93.8
4,678.0
23.8
2,225.8
3,006.2
1,237.1
1,053.1
12,004.8
9,380.4
654.8
1,821.6
147.9
2,322.0
100.4
4,834.4
23.6
2,255.1
3,059.6
1,293.1
1,055.0
12,299.6
9,608.3
668.3
1,872.6
150.5
2,293.3
115.4
4,759.6
23.6
2,305.7
3,111.4
1,327.1
1,070.4
12,607.4
9,838.5
679.3
1,934.9
154.7
2,327.4
15
16
17
18
19
20
21
By borrowing sector
Households
Nonfinancial business
Corporate
Nonfarm noncorporate
Farm
State and local government
Federal government
7,661.1
6,873.9
4,723.1
1,958.7
192.1
1,303.4
3,379.5
8,469.5
7,045.3
4,738.6
2,106.7
200.0
1,447.3
3,637.0
9,465.7
7,253.5
4,842.6
2,203.2
207.6
1,567.6
4,033.1
10,574.0
7,679.7
5,017.8
2,442.8
219.1
1,682.8
4,395.0
10,574.0
7,679.7
5,017.8
2,442.8
219.1
1,682.8
4,395.0
10,756.9
7,790.6
5,078.5
2,495.9
216.2
1,732.9
4,559.7
11,088.1
7,955.0
5,150.9
2,580.0
224.1
1,775.6
4,516.8
11,463.2
8,098.7
5,210.0
2,657.9
230.8
1,813.6
4,589.6
11,815.4
8,273.1
5,293.0
2,748.4
231.7
1,854.3
4,701.9
12,027.5
8,447.3
5,389.7
2,822.8
234.8
1,881.1
4,858.0
12,310.6
8,632.2
5,500.6
2,887.4
244.3
1,922.0
4,783.2
22 Foreign credit market debt held in
United States
862.9
1,072.3
1,244.5
1,424.8
1,424.8
1,439.5
1,462.0
1,482.6
1,466.0
1,498.9
1,520.0
23
24
25
26
196.0
557.1
63.2
46.6
254.2
705.2
68.6
44.3
267.1
874.4
60.9
42.2
329.9
993.0
63.3
38.6
329.9
993.0
63.3
38.6
332.3
1,003.3
66.3
37.7
336.2
1,024.4
65.0
36.4
355.0
1,026.5
66.3
34.7
368.4
987.5
76.2
34.0
389.0
1,000.2
78.1
31.6
370.1
1,035.0
84.9
29.9
20,080.8
21,671.6
23,564.3
25,756.2
25,756.2
26,279.6
26,797.6
27,447.7
28,110.7
28,712.8
29,168.0
Commercial paper
Bonds
Bank loans n.e.c
Other loans and advances
27 Total credit market debt owed by nonfinancial
sectors, domestic and foreign
Financial sectors
28 Total credit market debt owed by
financial sectors
32
33
34
35
By instrument
Open market paper
Government-sponsored enterprise securities
Agency- and GSE-backed mortgage pool
securities
Corporate bonds
Bank loans n.e.c
Other loans and advances
Mortgages
36
37
38
39
40
41
42
43
44
45
46
47
By borrowing sector
Commercial banks
Bank holding companies
Savings institutions
Credit unions
Life insurance companies
Government-sponsored enterprises
Agency- and GSE-backed mortgage pools
Issuers of asset-backed securities (ABSs)
Brokers and dealers
Finance companies
Real estate investment trusts (REITs)
Funding corporations
29
30
31
9,185.7
10,052.6
11,047.3
11,938.9
11,938.9
12,087.5
12,375.3
12,484.8
12,921.5
13,167.0
13,498.5
1,197.3
2,130.6
1,133.5
2,350.4
1,080.5
2,594.1
1,135.7
2,659.2
1,135.7
2,659.2
1,158.6
2,606.8
1,218.0
2,585.7
1,269.5
2,524.8
1,371.8
2,575.0
1,411.9
2,611.2
1,475.4
2,686.1
2,831.8
2 355 1
121.7
463.7
85.6
3,158.6
2,703.1
142.8
470.5
93.8
3,489.1
3,144.2
135.6
501.7
102.1
3,542.2
3,728.6
169.1
575.8
128.4
3,542.2
3,728.6
169.1
575.8
128.4
3,547.1
3,893.7
168.8
578.6
134.0
3,567.9
4,089.7
163.3
611.9
138.8
3,616.6
4,141.8
173.8
614.5
143.8
3,677.0
4,357.9
178.3
620.1
141.4
3,752.5
4,451.2
176.3
616.9
147.1
3,813.6
4,559.0
172.6
641.5
150.3
296.0
266.1
285.7
4.9
3.1
2,130.6
2,831.8
1,699.2
42.3
818.1
171.2
636.6
325.5
286.4
262.3
6.9
5.1
2,350.4
3,158.6
1,876.3
40.6
884.3
195.7
660.4
339.3
321.8
268.3
9.1
8.0
2,594.1
3,489.1
2,072.8
47.0
995.3
227.7
674.8
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,401.3
62.2
1,129.7
340.9
709.4
357.5
381.3
332.8
11.4
11.1
2,659.2
3,542.2
2,401.3
62.2
1,129.7
340.9
709.4
373.0
403.3
324.3
11.8
10.7
2,606.8
3,547.1
2,504.6
65.0
1,144.0
359.2
737.9
383.4
408.6
344.1
12.5
11.2
2,585.7
3,567.9
2,681.0
63.7
1,143.9
382.4
790.7
389.1
421.5
344.3
12.6
11.3
2,524.8
3,616.6
2,853.1
70.7
1,038.6
398.9
803.2
394.3
429.5
348.9
14.7
11.5
2,575.0
3,677.0
3,062.6
62.4
1,108.6
399.5
837.5
398.4
438.7
343.0
14.6
12.2
2,611.2
3,752.5
3,133.8
71.1
1,101.0
416.1
874.6
422.6
467.0
346.5
16.3
12.5
2,686.1
3,813.6
3,228.9
72.3
1,120.1
430.0
882.6
All sectors
48 Total credit market debt, domestic and foreign .
49
50
51
52
53
54
55
56
57
Open market paper
Treasury securities
Agency- and GSE-backed securities
Municipal securities
Corporate and foreign bonds
Bank loans n.e.c
Other loans and advances
Mortgages
Consumer credit
29,266.4
1 571 1
3,352.7
4,989.1
1,603.5
5,490.1
1,424.3
1,444.5
7 486 2
1,904.9
31,724.1
34,611.6
37,695.1
37,695.1
38,367.0
39,172.8
39,932.5
41,032.1
41,879.9
42,666.5
1,507.6
3,609.8
5,536.3
1,762.9
6,118.6
1,344.2
1,464.7
8 367 2
2,012.9
1,432.5
4,008.2
6,108.1
1,900.5
6,887.1
1,283.9
1,499.2
9 373 7
2,118.4
1,567.2
4,370.7
6,225.6
2,031.0
7,667.9
1,332.4
1,590.2
10 677 2
2,233.0
1,567.2
4,370.7
6,225.6
2,031.0
7,667.9
1,332.4
1,590.2
10 677 2
2,233.0
1,606.2
4,535.6
6,177.9
2,085.7
7,851.8
1,353.5
1,604.8
10,935.4
2,216.1
1,668.5
4,493.1
6,177.3
2,134.4
8,076.5
1,398.9
1,666.5
11,318.4
2,239.2
1,744.1
4,566.0
6,165.0
2,176.2
8,155.6
1,423.9
1,664.8
11,750.2
2,286.6
1,833.9
4,678.0
6,275.8
2,225.8
8,351.6
1,491.6
1,707.2
12,146.2
2,322.0
1,901.3
4,834.4
6,387.2
2,255.1
8,511.0
1,547.4
1,703.4
12,446.7
2,293.3
1,960.9
4,759.6
6,523.3
2,305.7
8,705.3
1,584.6
1,741.8
12,757.7
2,327.4
1. Data in this table appear in the Board's Z.I quarterly statistical release, tables L
through L.4, available at www.federalreserve.gov/releases.
Flow of Funds
1.60
39
SUMMARY OF FINANCIAL ASSETS AND LIABILITIES1
Billions of dollars except as noted, end of period
Transaction category or sector
Q4
Q1
Q2
Q3
Q4
Q1
Q2
CREDIT MARKET DEBT OUTSTANDING2
1 Total credit market assets
2 Domestic nonfinancial sectors
3
Household
4
Nonfinancial corporate business
5
Nonfarm noncorporate business
6
State and local governments
7
Federal government
8 Rest of the world
9 Financial sectors
10
Monetary authority
11
Commercial banking
12
U.S.-chartered commercial banks
13
Foreign banking offices in United States . .
14
Bank holding companies
15
Banks in U.S.-affiliated areas
16
Savings institutions
17
Credit unions
18 Property-casualty insurance companies . . . .
19 Life insurance companies
20
Private pension funds
21
State and local government retirement funds
22
Federal government retirement funds
23
Money market mutual funds
24
Mutual funds
25
Closed-end funds
26
Exchange-traded funds
27
Government-sponsored enterprises
28 Agency- and GSE-backed mortgage pools
29
Asset-backed securities (ABSs) issuers
30
Finance companies
31
Real estate investment trusts (REITs)
32
Brokers and dealers
33 Funding corporations
29,266.4
31,724.1
34,611.6
37,695.1
37,695.1
38,367.0
39,172.8
39,932.5
41,032.1
41,879.9
42,666.5
3,700.8
2,117.9
246.1
73.1
985.0
278.7
3,192.2
22,373.5
551.7
5,210.5
4,610.1
510.7
24.7
65.0
1,133.2
421.2
518.4
2,074.8
585.8
689.4
44.8
1,584.9
1,229.7
108.5
.0
2,099.1
2,831.8
1,604.2
978.6
48.0
316.0
342.9
3,900.9
2,196.7
272.1
72.4
1,071.4
288.2
3,708.0
24,115.3
629.4
5,614.9
5,003.9
516.9
27.8
66.3
1,166.6
465.4
558.3
2,307.8
572.3
638.7
57.6
1,567.1
1,368.4
117.1
3.7
2,323.2
3,158.6
1,787.8
1,082.3
69.4
344.4
282.2
4,298.4
2,544.2
271.1
73.6
1,124.0
285.6
4,138.2
26,175.0
666.7
5,960.8
5,361.7
485.8
36.4
76.9
1,292.6
516.6
625.2
2,488.3
629.5
649.9
63.6
1,471.3
1,506.4
153.3
4.5
2,559.7
3,489.1
1,990.8
1,205.0
97.5
424.1
380.2
4,633.8
2,766.1
307.9
85.3
1,185.8
288.8
4,929.3
28,132.0
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.4
698.8
2,661.4
624.2
677.1
68.2
1,346.3
1,623.0
164.5
8.2
2,605.9
3,542.2
2,320.4
1,420.0
200.1
394.9
474.1
4,633.8
2,766.1
307.9
85.3
1,185.8
288.8
4,929.3
28,132.0
717.8
6,543.0
5,909.7
506.1
36.4
90.8
1,485.4
556.4
698.8
2,661.4
624.2
677.1
68.2
1,346.3
1,623.0
164.5
8.2
2,605.9
3,542.2
2,320.4
1,420.0
200.1
394.9
474.1
4,620.3
2,726.1
301.4
87.6
1,216.3
288.8
5,111.3
28,635.5
717.3
6,745.2
6,054.3
563.1
34.0
93.8
1,496.3
565.8
721.1
2,714.2
623.4
692.1
70.4
1,294.3
1,669.3
166.1
11.2
2,581.4
3,547.1
2,422.7
1,423.1
209.5
440.0
525.0
4,740.3
2,824.1
305.2
91.1
1,235.3
284.6
5,299.6
29,133.0
724.7
6,909.7
6,178.8
592.1
41.4
97.4
1,550.2
579.0
733.4
2,733.2
624.5
686.2
73.2
1,245.1
1,697.3
167.1
12.0
2,571.2
3,567.9
2,595.7
1,441.7
239.5
457.3
524.0
4,771.1
2,805.3
317.8
94.5
1,265.2
288.3
5,514.1
29,647.3
736.4
7,084.1
6,327.3
628.2
29.9
98.8
1,588.8
585.9
760.3
2,760.6
628.9
671.5
75.2
1,246.8
1,719.6
166.9
13.8
2,503.2
3,616.6
2,762.4
1,465.2
261.8
432.0
567.3
5,049.2
3,045.4
336.2
98.2
1,283.1
286.1
5,604.6
30,378.4
744.2
7,189.8
6,408.3
648.3
32.2
101.0
1,616.6
592.6
765.8
2,765.4
637.7
674.6
76.0
1,336.2
1,747.1
166.0
15.0
2,540.5
3,677.0
2,962.7
1,537.1
267.0
486.0
581.3
5,129.1
3,104.7
335.4
101.0
1,300.3
287.6
5,780.9
30,969.9
758.5
7,366.1
6,560.7
669.5
33.9
102.0
1,648.8
604.1
780.8
2,803.0
648.5
671.1
77.3
1,347.7
1,796.2
168.5
15.7
2,545.9
3,752.5
3,030.7
1,543.0
277.1
497.3
636.9
5,139.3
3,087.2
344.7
102.9
1,317.2
287.3
6,004.1
31,523.1
766.4
7,591.4
6,744.6
713.0
31.9
101.9
1,679.5
615.6
792.8
2,822.5
666.7
667.6
81.8
1,370.9
1,825.1
173.2
18.0
2,593.8
3,813.6
3,121.2
1,558.2
291.6
480.2
592.9
41,879.9
42,666.5
48.3
RELATION OF LIABILITIES
TO FINANCIAL ASSETS
34 Total credit market debt
Other liabilities
Official foreign exchange
Special drawing rights certificates
Treasury currency
Foreign deposits
Net interbank liabilities
Checkable deposits and currency
Small time and savings deposits
Large time deposits
Money market fund shares
Security repurchase agreements
Mutual fund shares
Security credit
Life insurance reserves
Pension fund reserves
Trade payables
Taxes payable
Miscellaneous
34,611.6
46.8
2.2
24.5
810.1
191.4
1,360.2
3,370.5
1,121.0
2,240.6
1,233.7
4,135.4
825.9
880.0
8,766.4
2,372.3
219.2
11,307.7
55.8
2.2
25.5
831.1
206.0
1,351.9
3,695.9
1,171.0
2,223.9
1,340.3
3,638.4
738.8
920.9
8,061.0
2,443.1
241.4
12,012.0
62.3
2.2
26.0
867.8
193.3
1,432.0
4,001.7
1,232.8
2,016.4
1,567.5
4,654.2
871.3
1,013.2
9,502.7
2,465.2
240.5
12,470.4
62.2
2.2
26.7
957.7
212.2
1,521.8
4,284.6
1,504.9
1,879.8
1,650.7
5,436.3
1,037.9
1,060.4
10,470.3
2,654.7
268.1
13,945.3
62.2
2.2
26.7
957.7
212.2
1,521.8
4,284.6
1,504.9
1,879.8
1,650.7
5,436.3
1,037.9
1,060.4
10,470.3
2,654.7
268.1
13,945.3
56.3
2.2
26.9
1,062.7
196.6
1,499.7
4,376.0
1,575.4
1,841.0
1,782.8
5,471.6
1,051.5
1,059.4
10,304.1
2,701.6
285.0
13,973.5
54.3
2.2
27.2
1,010.0
207.6
1,514.6
4,408.5
1,637.1
1,831.5
1,911.3
5,595.7
1,064.5
1,067.2
10,508.4
2,763.4
287.7
14,187.3
52.0
2.2
27.4
1,032.9
204.3
1,481.9
4,523.7
1,738.0
1,876.6
1,983.9
5,874.4
1,068.0
1,077.7
10,786.1
2,847.7
295.8
13,964.6
45.9
2.2
27.5
1,044.5
220.3
1,525.4
4,599.0
1,776.0
2,006.9
2,005.6
6,048.9
1,030.2
1,082.6
11,009.4
2,894.2
295.7
14,069.9
46.0
2.2
27.6
1,101.8
199.1
1,508.7
4,687.5
1,877.2
2,014.1
2,127.8
6,456.7
1,105.1
1,091.6
11,249.1
2,926.4
311.6
13,930.2
27.8
1,161.7
151.9
1,541.0
4,732.9
1,950.0
2,067.4
2,226.1
6,406.4
1,138.2
1,090.8
11,155.6
3,002.2
311.6
13,927.0
52 Total liabilities
68,174.3
70,683.3
77,230.8
84,670.7
84,670.7
85,633.4
87,251.5
88,769.4
90,716.3
92,542.6
93,607.6
Financial assets not included in liabilities (+)
53 Gold and special drawing rights
54 Corporate equities
55 Household equity in noncorporate business . . .
21.8
15,310.6
4,806.3
23.2
11,900.5
4,970.7
23.7
15,618.5
5,401.1
24.6
17,389.3
5,960.7
24.6
17,389.3
5,960.7
22.6
17,002.3
6,138.1
22.3
17,185.9
6,367.2
19.3
17,914.7
6,559.3
19.3
18,276.8
6,734.7
19.4
19,143.6
6,937.1
19.7
18,684.5
7,054.9
-8.6
630.9
11.1
390.0
93.3
-3,446.7
-9.1
652.5
15.5
426.0
126.3
-3,264.4
-9.5
705.9
12.6
402.8
69.3
-3,013.0
-9.7
767.9
27.3
264.8
96.2
2,865.7
-9.7
767.9
27.3
264.8
96.2
2,865.7
-9.6
864.1
35.7
366.8
91.9
-3,103.0
-9.4
803.3
23.3
436.8
97.0
3,091.8
-9.0
807.9
27.5
428.4
80.8
3,439.0
-9.1
813.2
38.5
400.0
95.4
-3,369.4
-10.3
873.9
44.0
465.3
93.1
-3,590.2
-10.2
936.2
41.9
530.4
74.1
-3,845.1
-12.3
21.6
-138.5
-11.7
20.9
10.4
-17.9
20.8
50.1
11.2
20.6
45.7
11.2
20.6
45.7
4.9
16.4
-17.0
1.7
19.6
-48.0
2.5
12.4
-33.4
1.4
20.6
24.3
1.9
16.4
-32.7
2.4
19.7
-48.9
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
56
57
58
59
60
61
Liabilities not identified as assets (-)
Treasury currency
Foreign deposits
Net interbank transactions
Security repurchase agreements
Taxes payable
Miscellaneous
Floats not included in assets (-)
62 Federal government checkable deposits
63 Other checkable deposits
64 Trade credit
65 Totals identified to sectors as assets
120,781.2 121,666.1
89,611.4
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 • October 2006
2.12
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION'
Seasonally adjusted
2005
2005
2006
2005
2006
2006
Series
Q4
Q1
Q2'
Q3
Q4
Q1
Q2
Q3
Capacity (percent of 2002 output)
Output (2002=100)
Q4
Q1
Q2'
Q3
Capacity utilization rate (percent)2
1 Total Industry
109.4
110.8
112.6
113.6
135.9
136.6
137.2
137.9
80.5
81.1
82.0
82.3
2 Manufacturing
3
Manufacturing (NAICS)
111.6
112.2
113.1
113.8
114.5
115.3
115.6
116.5
139.9
141.3
140.7
142.2
141.6
143.1
142.5
144.1
79.8
79.4
80.3
80.1
80.8
80.5
81.1
80.8
4
5
121.1
103.4
122.7
105.8
124.9
108.2
126.5
106.9
153.2
123.9
154.8
123.6
156.2
123.2
157.5
122.7
79.1
83.5
79.3
85.6
80.0
87.9
80.3
87.1
108.9
120.3
169.4
110.6
119.8
173.9
112.1
122.1
180.8
113.7
126.9
189.6
143.1
144.2
216.6
143.6
144.3
224.4
144.2
144.8
230.4
144.9
145.4
235.6
76.1
83.5
78.2
77.0
83.0
77.5
77.7
84.3
78.5
78.5
87.3
80.5
110.7
112.2
113.3
112.2
116.6
112.8
118.9
109.2
126.2
141.0
126.2
142.2
126.7
143.1
127.4
143.9
87.7
79.6
89.8
78.9
92.0
78.8
93.3
75.9
115.7
101.8
106.0
91.5
121.0
103.4
107.4
90.7
124.3
104.0
107.3
88.5
128.3
104.8
108.2
87.6
161.3
127.2
129.5
118.5
162.2
127.4
129.8
117.7
163.1
127.8
130.6
117.0
164.1
128.4
131.5
116.3
71.7
80.0
81.9
77.2
74.6
81.2
82.7
77.0
76.2
81.4
82.1
75.7
78.2
81.6
82.3
75.3
98.4
99.7
100.7
107.3
101.6
98.8
103.6
102.7
108.1
100.9
97.8
102.8
104.7
109.5
101.7
98.0
105.5
105.3
110.2
100.7
115.7
114.2
135.9
120.5
118.0
115.6
114.3
136.3
120.7
118.1
115.4
114.5
136.9
121.6
118.1
115.2
114.5
137.5
122.7
118.1
85.0
87.3
74.1
89.0
86.1
85.5
90.6
75.3
89.6
85.5
84.8
89.9
76.5
90.0
86.1
85.1
92.1
76.6
89.8
85.2
20 Mining
21 Electric and gas utilities
92.6
106.6
98.1
102.6
100.6
106.6
101.0
107.7
111.9
122.8
111.7
122.8
123.0
110.8
123.3
82.7
86.9
87.9
83.5
90.4
86.6
91.2
87.3
MEMOS
22 Computers, communications equipment, and
semiconductors
186.8
193.5
202.7
215.9
246.7
258.7
265.9
271.4
75.7
74.8
76.2
79.6
23 Total excluding computers, communications
equipment, and semiconductors
106.1
107.3
108.8
109.5
131.0
131.3
131.7
132.2
81.0
81.7
82.6
82.8
24 Manufacturing excluding computers,
communications equipment, and
semiconductors
107.6
108.8
110.0
110.6
134.0
134.4
135.0
135.7
80.3
81.0
81.5
81.5
6
8
9
10
11
12
13
14
15
16
17
18
19
Durable manufacturing
Primary metal
Fabricated metal products
Computer and electronic products
Electrical equipment, appliances,
and components
Motor vehicles and parts
Aerospace and miscellaneous
transportation equipment
Nondurable manufacturing
Food, beverage, and tobacco products . . . .
Textile and product mills
Paper
Petroleum and coal products
Chemical
Plastics and rubber products
Other manufacturing (non-NAICS)
Selected Measures
2.12
41
OUTPUT, CAPACITY, AND CAPACITY UTILIZATION' —CONTINUED
Seasonally adjusted
1973
1975
Previous cycle2
High
Low
High
Latest cycle3
2006
2005
Series
Low
High
Low
Sept.
Apr.
May
June'
July'
Aug.'
Sept.p
Capacity ut lization rate (percent)4
1 Total Industry
88.9
74.1
86.6
70.7
85.1
78.6
79.1
81.8
81.7
82.5
82.6
82.5
81.9
2 Manufacturing
3
Manufacturing (NAICS)
88.3
88.4
71.6
71.4
86.2
86.3
68.4
67.8
85.5
85.5
77.1
76.9
78.2
77.8
80.9
80.6
80.5
80.2
81.1
80.8
81.2
80.9
81.2
81.0
80.8
80.6
89.4
101.9
69.7
69.7
86.8
90.4
62.8
46.9
84.6
94.9
73.4
74.6
77.2
82.1
80.0
86.1
79.6
88.7
80.3
88.8
80.3
87.7
80.6
87.1
80.0
86.7
91.7
94.5
69.7
74.5
82.8
92.6
61.8
58.2
81.7
85.3
72.6
73.9
74.8
80.5
78.1
85.5
77.3
83.4
77.7
83.9
78.3
87.6
78.6
87.7
78.5
86.7
86.9
66.1
89.4
76.4
81.5
75.9
76.8
77.9
78.2
79.3
80.0
80.5
80.9
99.3
95.6
68.0
54.6
91.9
95.2
64.7
45.0
89.0
89.3
77.0
56.0
86.1
83.1
91.8
78.8
92.3
77.6
91.9
79.9
93.8
75.6
94.0
76.9
92.2
75.1
75.8
87.6
67.5
72.4
86.7
85.8
68.8
75.6
87.3
86.9
81.3
81.5
58.5
78.7
76.0
81.4
75.9
81.2
76.6
81.6
77.8
81.9
78.2
81.6
78.5
81.4
86.3
89.5
77.6
61.9
84.5
89.9
80.6
72.6
85.9
91.5
81.1
77.6
80.8
77.7
83.0
76.0
81.8
75.5
81.6
75.5
82.2
76.2
82.2
75.3
82.4
74.6
96.7
92.2
85.3
96.1
86.0
74.3
80.8
69.1
61.8
75.5
95.2
91.7
83.2
90.2
88.5
81.3
70.4
68.0
71.3
86.1
93.6
89.0
85.0
89.5
91.0
85.6
83.0
80.0
76.2
80.7
83.3
86.3
71.9
88.2
85.1
84.3
86.9
76.2
90.7
86.2
84.4
90.0
76.4
89.3
86.1
85.7
92.6
76.8
90.1
86.0
85.0
91.6
77.0
91.1
86.0
85.4
91.6
76.7
89.7
85.0
84.7
93.2
76.1
88.5
84.8
20 Mining
21 Electric and gas utilities
93.6
96.3
87.6
82.7
93.9
88.2
78.7
77.6
86.1
92.7
83.6
84.1
80.7
88.0
89.7
84.8
90.3
86.3
91.2
88.7
91.2
89.2
90.9
88.3
91.6
84.4
MEMOS
22 Computers, communications
equipment, and semiconductors .
84.4
62.4
88.7
74.0
80.9
74.0
75.5
75.4
76.1
77.1
78.3
79.7
80.7
23 Total excluding computers,
communications equipment,
and semiconductors
89.1
74.4
86.7
70.5
85.5
78.8
79.5
82.4
82.3
83.1
83.1
83.0
82.3
24 Manufacturing excluding computers,
communications
equipment, and semiconductors .
88.4
71.9
86.3
68.1
86.0
77.3
78.6
81.5
81.2
81.7
81.8
81.7
81.2
4
5
Durable manufacturing
Primary metal
6
7
8
14
Fabricated metal products . . . .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts
Aerospace and
miscellaneous
transportation equipment .
Nondurable manufacturing
Food, beverage, and tobacco
products
Textile and product mills . . . .
15
16
17
18
19
Paper
Petroleum and coal products . .
Chemical
Plastics and rubber products . .
Other manufacturing (non-NAICS) .
9
10
11
12
13
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table also appear in the Board's G.17 (419) monthly statistical release, on
the Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in November 2005.
The recent annual revision is described in Kimberly Bayard and Charles Gilbert (2006),
"Industrial Production and Capacity Utilization: The 2005 Annual Revision," Federal
Reserve Bulletin, vol. 92, pp. A39-A58, http://www.federalreserve.gov/pubs/bulletin/2006/
ipO6.pdf.
2. Monthly highs, 1978-80; monthly lows, 1982.
3. Monthly highs, 1988-89; monthly lows, 1990-91.
4. Capacity utilization is calculated as the ratio of the Federal Reserve's seasonally
adjusted index of industrial production to the corresponding index of capacity.
42
2.13
Federal Reserve Bulletin Statistical Supplement • October 2006
INDUSTRIAL PRODUCTION
Indexes and Gross Value'
Monthly data seasonally adjusted
Group
2002
proportion
Sept.
Feb.
Mar.
Api
Aug.r
May
Sept.p
Index (2002=100)
MAJOR MARKETS
1 Total IP
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Market groups
Final products and nonindustrial supplies . .
Consumer goods
Durable
Automotive products
Home electronics
Appliances, furniture, carpeting . . .
Miscellaneous goods
Nondurable
Non-energy
Foods and tobacco
Clothing
Chemical products
Paper products
Energy
107.2
108.4
109.4
110.4
110.3
110.7
111.2
112.1
112.2
113.4
113.8
113.8
59.0
31.1
8.9
4.7
0.4
1.5
2.4
22.1
18.3
9.8
1.0
4.9
2.1
3.9
109.3
105.5
109.4
112.6
120.0
105.4
103.9
104.0
103.8
104.4
85.3
104.7
105.4
104.7
09.1
06.4
12.7
17.8
13.5
08.5
04.9
03.9
03.7
04.5
85.7
04.2
03.9
05.0
111.0
106.5
113.1
117.3
125.3
108.4
106.3
103.9
104.2
105.3
85.4
104.1
105.3
102.7
111.3
105.7
110.1
111.7
132.1
106.2
106.6
103.9
104.4
105.7
86.2
103.8
104.9
102.3
112.0
106.6
109.0
110.1
133.4
104.7
106.7
105.5
105.1
106.7
86.5
104.1
106.4
107.2
111.5
105.4
110.2
112.3
132.7
105.6
106.2
103.6
105.3
107.3
87.8
103.1
106.3
97.0
111.8
105.8
109.9
112.0
131.7
105.2
105.8
104.2
104.6
106.5
87.4
102.9
104.1
103.0
112.5
106.6
110.7
113.6
130.5
106.1
105.4
104.9
105.2
106.6
88.4
104.7
104.6
103.9
113.1
106.5
110.2
112.5
129.9
105.8
106.1
105.0
106.2
107.5
89.3
105.6
106.4
100.5
113.0
106.3
109.5
111.5
132.5
105.1
105.7
105.0
105.6
106.2
89.7
105.6
106.5
102.7
114.4
107.9
112.0
116.4
134.8
103.7
106.1
106.3
105.9
106.2
89.2
106.6
107.2
107.5
114.6
107.5
108.6
109.2
136.3
103.4
107.3
106.9
106.8
107.3
91.0
106.9
108.0
107.6
114.7
107.9
110.3
111.6
136.9
105.6
107.4
106.8
106.8
107.6
89.1
107.2
106.7
107.0
114.0
106.9
108.3
108.7
138.3
103.1
107.3
106.2
106.9
108.2
88.0
106.7
106.6
103.6
16
17
18
19
20
Business equipment
Transit
Information processing
Industrial and other
Defense and space equipment
10.3
1.9
3.1
5.3
1.8
119.5
117.5
134.0
112.8
125.7
15.1
88.9
38.1
13.1
24.6
123.1
121.5
141.3
114.5
127.8
125.8
127.9
144.9
115.5
128.6
126.4
129.4
144.8
116.0
129.9
127.6
134.0
146.6
115.9
129.7
128.2
134.5
148.9
115.6
131.8
129.4
133.3
151.3
117.2
131.1
132.5
136.3
154.9
120.1
132.4
132.0
135.2
156.4
119.0
131.7
133.7
137.4
158.9
120.1
133.3
136.4
139.2
160.6
123.4
134.1
136.7
141.0
159.9
123.7
133.4
136.4
142.3
161.1
122.1
133.8
21
22
Construction supplies
Business supplies
4.3
11.2
108.7
107.7
09.8
07.8
112.4
108.4
113.4
109.1
113.1
110.3
114.1
109.3
113.7
109.1
113.6
109.9
114.0
110.3
113.3
110.9
113.4
111.8
114.1
112.0
113.8
111.3
113.3
110.6
23 Materials
24
Non-energy
25
Durable
26
Consumer parts
27
Equipment parts
28
Other
29
Nondurable
30
Textile
31
Paper
32
Chemical
33 Energy
41.0
30.7
19.1
4.0
6.7
8.4
11.6
0.8
2.7
4.5
10.3
106.7
110.2
117.1
102.0
143.9
105.2
99.2
84.5
97.1
100.8
97.9
04.5
09.4
18.8
03.3
47.2
05.8
94.8
84.3
95.7
90.8
92.8
104.9
110.9
120.1
104.4
149.1
107.0
96.4
84.4
97.1
92.9
90.9
106.9
112.1
120.9
102.1
153.1
107.2
98.3
83.7
96.4
98.4
94.3
108.3
113.0
121.8
102.0
155.3
107.7
99.2
82.6
98.0
99.2
96.8
108.8
114.4
122.9
103.4
155.5
109.2
101.0
84.6
99.2
101.5
95.5
109.3
114.3
123.4
103.4
156.7
109.5
100.1
84.1
97.7
100.8
97.2
109.5
114.5
123.5
104.3
157.9
108.7
100.3
83.6
98.2
101.3
97.5
110.7
115.6
125.1
105.5
160.6
109.7
100.8
82.6
98.0
101.9
98.8
111.0
115.7
125.1
103.7
161.6
110.0
100.8
81.5
97.6
103.2
99.6
112.1
116.4
126.2
104.9
164.1
110.3
101.2
81.6
98.8
103.2
101.1
112.5
117.1
127.2
102.6
169.0
110.6
101.4
81.9
98.7
103.8
101.2
112.5
117.5
128.0
103.3
172.2
110.0
101.1
80.6
99.0
103.4
100.5
111.9
117.1
127.9
102.2
173.3
109.6
100.3
78.9
98.6
102.3
99.5
94.8
92.6
105.3
107.9
04.0
06.5
105.2
107.8
106.0
109.3
107.0
110.5
106.9
110.2
107.2
110.7
107.7
111.1
108.5
112.1
108.4
112.2
109.5
113.3
109.8
114.1
109.7
114.0
108.9
113.5
SPECIAL AGGREGATES
34 Total excluding computers, communication
equipment, and semiconductors
35 Total excluding motor vehicles and parts . .
Gross value (billions of 2000 dollars, annual rates)
36 Final products and nonindustrial
supplies
37 Final products
38
Consumer goods
39
Equipment total .
Nonindustrial supplies .
2,990.6
43.5
31.1
12.4
15.5
3,022.8
3,058.4 3,054.4
3,130.1 3,113.9
3,126.7
3,077.0
2,264.1 2,254.5 2,289.8 2,297.5 2,311.8 2,311.8 2,319.0 2,332.8 2,334.3 2,333.8 2,372.6 2,370.1 2,379.3 2,367.0
1,593.2 1,604.8 1,599.3 1,596.5 1,606.9 1,599.1 1,605.2 1,613.3 1,601.5 1,605.6 1,637.3 1,621.9 1,631.2 1,619.5
758.5
758.6
675.0
651.3
696.3
707.8
711.8
720.7
721.6
727.5
742.8
737.6
743.9
759.2
726.8
726.9
733.4
741.2
746.7
742.9
740.2
744.6
747.0
749.8
754.7
756.9
751.5
Selected Measures
2.13
INDUSTRIAL PRODUCTION
43
Indexes and Gross Value1—Continued
Monthly data seasonally adjusted
Group
NAICS
code2
2002
proportion
2005
2006
2005
avg.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June'
July'
Aug.'
Sept.p
Index (2002=100)
INDUSTRY GROUPS
41 Manufacturing
42
Manufacturing (NAICS)
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
Durable manufacturing
Wood products
Nonmetallic mineral
products
Primary metal
Fabricated metal products .
Machinery
Computer and electronic
products
Electrical equipment,
appliances, and
components
Motor vehicles and parts . .
Aerospace and
miscellaneous
transportation
equipment
Furniture and related
products
Miscellaneous
Nondurable manufacturing . .
Food, beverage, and
tobacco products . . . .
Textile and product mills . .
Apparel and leather
Paper
Printing and support
Petroleum and coal
products
Chemical
Plastics and rubber
products
Other manufacturing
(non-NAICS)
65 Mining
66 Utilities
67
Electric
68
Natural gas
69 Manufacturing excluding
computers, communications
equipment, and
semiconductors
70 Manufacturing excluding motor
vehicles and parts
83.9
79.1
109.6
110.0
108.9
109.5
110.9
111.5
111.7
112.4
112.2
112.8
113.1
113.8
112.8
113.6
113.3
114.1
114.3
115.1
114.1
114.8
115.1
115.9
115.5
116.4
115.8
116.7
115.4
116.3
321
43.6
1.5
117.0
107.6
117.5
107.2
120.7
112.7
121.2
114.0
121.4
113.4
122.3
111.5
122.5
109.4
123.2
107.7
124.6
107.6
124.3
106.7
125.8
104.6
126.2
105.4
127.0
103.6
126.4
102.5
327
331
332
333
2.3
2.3
5.7
5.3
107.2
100.6
106.7
115.7
107.2
101.8
106.8
116.1
108.8
102.7
109.0
119.0
111.6
103.5
109.1
120.2
109.6
104.0
108.5
121.8
112.6
106.8
109.8
119.7
112.5
106.1
110.4
119.1
112.1
104.4
111.4
120.7
112.2
106.2
112.5
123.7
110.5
109.2
111.5
120.8
111.0
109.3
112.3
121.7
110.5
107.7
113.3
127.1
110.1
106.8
113.9
127.5
108.7
106.3
113.8
126.2
334
8.0
156.7
162.1
165.0
170.7
172.5
172.4
173.8
175.3
178.0
180.3
184.1
187.0
189.8
191.9
335
3361-3
2.2
7.4
106.9
112.1
108.8
116.3
110.9
116.3
110.5
110.9
110.6
109.5
113.3
112.3
112.5
111.3
114.2
112.9
116.2
112.6
117.0
111.1
116.6
114.6
119.2
108.7
119.7
110.7
117.7
108.3
3364-9
3.6
109.8
94.2
112.2
116.4
118.4
119.6
122.3
121.0
123.8
123.8
125.2
127.4
128.4
129.0
337
339
1.8
3.3
100.7
110.3
101.7
111.9
100.5
112.6
100.2
112.2
99.4
111.7
99.3
112.0
99.7
113.0
100.6
113.0
100.7
113.8
101.8
114.3
102.1
115.2
100.1
115.8
101.8
114.9
99.8
115.5
35.5
101.8
100.1
100.7
102.0
102.7
103.7
103.1
103.4
103.9
103.7
104.4
104.9
104.8
104.6
311,2
313,4
315,6
322
323
11.4
1.4
1.0
3.1
2.4
104.4
91.4
86.0
98.0
97.7
104.6
92.6
86.7
96.5
97.9
105.5
93.2
86.5
98.8
98.2
105.8
91.6
87.5
97.2
98.3
106.9
89.7
87.7
99.3
98.4
107.8
91.5
88.9
100.8
100.2
107.1
90.9
88.5
98.3
100.7
107.3
89.7
89.2
97.4
101.4
108.2
89.1
90.0
97.3
102.5
106.8
88.3
90.5
97.3
101.8
106.8
88.2
89.8
98.8
102.5
107.8
88.8
91.8
97.9
102.3
108.1
87.5
89.7
98.4
102.2
108.6
86.6
88.7
97.5
102.4
324
325
1.7
10.7
103.8
102.6
98.5
97.5
95.4
98.8
101.9
101.3
101.7
101.9
105.0
102.5
103.9
102.2
101.9
103.3
99.4
104.1
103.0
104.6
106.1
105.3
104.9
105.7
104.9
105.5
106.7
104.8
326
3.8
104.8
106.5
106.2
107.4
108.4
108.0
108.0
108.4
110.0
108.6
109.8
111.4
110.1
109.0
1133,5111
4.8
101.9
100.4
101.4
101.1
102.3
102.0
100.3
100.6
101.8
101.7
101.6
101.6
100.4
100.1
21
2211,2
2211
2212
6.4
9.7
8.3
1.5
97.4
105.8
107.4
97.4
90.3
108.1
110.5
96.5
89.1
105.9
109.5
89.6
93.1
104.8
107.3
93.0
95.5
109.2
110.0
104.3
97.7
98.3
102.4
80.2
98.4
103.9
106.9
89.9
98.2
105.6
107.2
97.4
100.0
104.2
106.5
93.2
100.4
106.2
109.0
93.3
101.3
109.2
111.4
98.5
101.1
109.9
112.6
97.3
100.6
108.9
111.4
97.3
101.3
104.1
105.6
96.4
78.7
106.1
105.2
107.1
107.7
108.0
109.0
108.6
109.0
109.9
109.5
110.5
110.7
110.8
110.3
76.5
109.3
108.2
110.4
111.8
112.4
113.2
113.0
113.3
114.4
114.3
115.1
116.2
116.2
116.1
NOTE: The statistics in this release cover output, capacity, and capacity utilization in the
industrial sector, which is defined by the Federal Reserve to comprise manufacturing, mining,
and electric and gas utilities. Mining is defined as all industries in sector 21 of the North
American Industry Classification System, or NAICS; electric and gas utilities are those in
NAICS sectors 2211 and 2212. Manufacturing comprises NAICS industries (sector 31-33)
plus the logging industry and the newspaper, periodical, book, and directory publishing
industries. Logging and publishing are classified elsewhere in NAICS (under agriculture and
information respectively), but historically they were considered to be manufacturing and were
included in the industrial sector under the Standard Industrial Classification (SIC) system. In
December 2002, the Federal Reserve reclassified all its industrial output data from the SIC
system to NAICS.
1. Data in this table appear in the Board's G.17 (419) monthly statistical release, on the
Board's website www.federalreserve.gov/releases/gl7. The latest historical revision of the
industrial production index and the capacity utilization rates was released in November 2005.
The recent annual revision is described in Kimberly Bayard and Charles Gilbert (2006),
"Industrial Production and Capacity Utilization: The 2005 Annual Revision," Federal
Reserve Bulletin, vol. 92, pp. A39-A58, http://www.federalreserve.gov/pubs/bulletin/2006/
ipO6.pdf.
2. North American Industry Classification System.
44
Federal Reserve Bulletin Statistical Supplement • October 2006
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
-527,514
-494,897
1,016,096
-1,510,993
36,593
42,292
112,789
-70,497
-5,699
-69,210
11 Change in U.S. government assets other than official
reserve assets, net (increase, - )
-665,286
-611,296
1,151,942
-1,763,238
27,592
33,635
123,867
-90,232
-6,043
-81,582
-791,508
-716,730
1,275,245
-1,991,975
11,293
17,598
134,417
-116,819
-6,304
-86,072
Q2
Q3
Q4
Q1
Q2
-193,258
-172,058
316,645
-488,703
1,994
3,549
31,052
-27,503
-1,555
-23,194
-183,415
-181,792
320,853
-502,645
7,841
9,463
40,371
-30,908
-1,622
-9,464
-223,109
-194,774
331,165
-525,939
-2,159
-581
32,642
-33,223
-l|s78
-26,176
-213,198
-191,140
344,430
-535,570
-2,516
-894
34,295
-35,189
-1,622
-19,542
-218,410
-193,817
355,879
-549,696
-4,149
-2,526
36,022
-38,548
-1,623
-20,444
537
1,049
1,479
1,523
0
601
1,494
-572
-398
3,826
-623
4,511
10,200
-615
-97
-564
-136
2,976
1,951
-161
-81
5,050
-173
513
0
-67
729
-149
-560
0
-51
-351
-158
-328,484
-13,014
-18,851
-146,722
-149,897
-872,317
-361,623
-120,017
-146,549
-244,128
-446,436
-213,018
-44,221
-180,125
-9,072
-196,568
-174,153
57,244
-45,702
-33,957
-138,647
-102,716
-29,483
-36,790
30,342
-15,911
10,368
-4,812
-47,266
25,799
-357,540
-196,407
-46,190
-53,692
-61,251
-213,258
-81,533
-32,408
-52,215
-47,102
22 Change in foreign official assets in United States (increase, +)
23
U.S. Treasury securities
24
Other U.S. government obligations
25
Other U.S. government liabilities2
26
Other U.S. liabilities reported by U.S. banks2
27
Other foreign official assets3
278,275
184,931
39,943
-517
48,643
5,275
387,809
263,338
41,662
-139
69,245
13,703
199,495
71,749
84,701
-488
24,275
19,258
74,613
16,892
19,421
34,187
4,001
33,983
8,213
17,713
395
824
6,838
71,934
37,418
23,786
-255
5,078
5,907
75,697
42,156
24,063
37
-821
10,262
74,874
-8,905
30,458
637
41,730
10,954
28 Change in foreign private assets in United States (increase, +)
29
U.S. bank-reported liabilities4
30
U.S. nonbank-reported liabilities
31
Foreign private purchases of U.S. Treasury securities, net
32
U.S. currency flows
33 Foreign purchases of other U.S. securities, net
34 Foreign direct investments in United States, net
586,494
97,207
96,526
91,455
16,640
220,705
63,961
1,062,412
336,740
93,250
102,940
14,827
381,493
133,162
1,012,755
179,849
30,105
199,491
19,416
474,140
109,754
271,566
152,938
-20,035
14,103
4,507
111,808
8,245
354,609
94,912
20,271
37,239
4,679
153,049
44,459
181,416
2,141
-50,305
62,041
9,158
131,871
26,510
451,801
148,851
74,953
-5,212
1,932
186,009
45,268
291,523
84,247
26,115
10,065
1,127
121,556
48,413
-3,321
-7,510
-2,261
85,128
-4,351
10,410
-589
44,044
-4,862
48,905
-557
-72,240
-17,549
-54,691
-514
-19,071
9,219
-28,291
-1,756
43,434
10,437
32,997
-882
65,234
12 Change in U.S. official reserve assets (increase, - )
13
Gold
14
Special drawing rights (SDRs)
15
Reserve position in International Monetary Fund
16 Foreign currencies
17 Change in U.S. private assets abroad (increase, - )
18
Bank-reported claims2
19
Nonbank-reported claims
20
U.S. purchase of foreign securities, net
21
U.S. direct investments abroad, net
35 Capital account transactions, net5
36 Discrepancy
37
Due to seasonal adjustment
38
Before seasonal adjustment
MEMO
Changes in official assets
39 U.S. official reserve assets (increase, - )
40 Foreign official assets in United States, excluding line 25
(increase, +)
1,523
2,805
14,096
-797
4,766
4,796
513
-560
278,792
387,948
199,983
74,501
33,588
72,189
75,660
74,237
41 Change in Organization of Petroleum Exporting Countries official
assets in United States (part of line 22)
1. Seasonal factors are not calculated for lines 11-16, 18-20, 22-35, and 38-41.
2. Associated primarily with military sales contracts and other transactions arranged with
or through foreign official agencies.
3. Consists of investments in U.S. corporate stocks and in debt securities of private
corporations and state and local governments.
4. Reporting banks included all types of depository institutions as well as some brokers
and dealers.
3.12
5. Consists of capital transfers (such as those of accompanying migrants entering or
leaving the country and debt forgiveness) and the acquisition and disposal of nonproduced
nonfinancial assets.
SOURCE: U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current
Business.
U.S. RESERVE ASSETS
Millions of dollars, end of period
2006
Asset
2003
2004
2005
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.'
1 Total
85,938
86,824
65,127
65,364
65,354
66,846
67,706
67,935
67,559
66,606
66,217
2 Gold stock1
3 Special drawing rights2-3
4 Reserve position in International Monetary
Fund2
5 Foreign currencies4
11,043
12,638
11,045
13,582
11,043
8,210
11,044
8,310
11,043
8,344
11,041
8,518
11,041
8,704
11,041
8,618
11,041
8,644
11,041
8,726
11,041
8,655
22,535
39,722
19,479
42,718
8,036
37,838
7,638
38,372
7,376
38,592
7,219
40,068
7,219
40,742
7,906
40,370
7,460
40,414
6,715
40,124
6,619
39,902
NOTE: The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at www.federalreserve.gov/releases.
1. Gold held "under earmark" at Federal Reserve Banks for foreign and international
accounts is not included in the gold stock of the United States; see table 3.13, line 3. Gold
stock is valued at $42.22 per fine troy ounce.
2. Special drawing rights (SDRs) are valued according to a technique adopted by the
International Monetary Fund (IMF) in July 1974. Values are based on a weighted average of
exchange rates for the currencies of member countries. From July 1974 through December
1980, sixteen currencies were used; since January 1981, five currencies have been used. U.S.
SDR holdings and reserve positions in the IMF have also been valued on this basis since July
1974.
3. Includes allocations of SDRs by the International Monetary Fund on Jan. 1 of the year
indicated, as follows: 1970—$867 million; 1971—$717 million; 1972—$710 million; 1979—
$1,139 million; 1980—$1,152 million; 1981—$1,093 million; plus net transactions in SDRs.
4. Valued at current market exchange rates.
Summary Statistics
3.13
45
FOREIGN OFFICIAL ASSETS HELD AT FEDERAL RESERVE BANKS'
Millions of dollars, end of period
2006
Asset
2003
2004
2005
Feb.
1 Deposits
Held in custody
2 U.S. Treasury securities2
3 Earmarked gold3
Mar.
May
June
July
Sept.p
Aug.
162
80
83
82
84
86
86
142
88
89
98
845.080
8,971
1.041.215
8,967
1.069.014
8,967
1.105.178
8,967
1.103.810
8,967
1.097.103
8,967
1,093,393
8,967
1,089,512
8,967
1,095,248
8,967
1,116,941
8,967
1.098.848
8,967
NOTE: The data presented in this table are available in the monthly statistical release "U.S.
Reserve Assets; Foreign Official Assets Held at Federal Reserve Banks," on the Board's
website at www.federalreserve.gov/releases.
1. Excludes deposits and U.S. Treasury securities held for international and regional
organizations.
3.15
Apr.
2. Marketable U.S. Treasury bills, notes, and bonds and nonmarketable U.S. Treasury
securities, in each case measured at face (not market) value.
3. Held in foreign and international accounts and valued at $42.22 per fine troy ounce; not
included in the gold stock of the United States.
SELECTED U.S. LIABILITIES TO FOREIGN OFFICIAL INSTITUTIONS
Millions of dollars, end of period
2006
2005
Item
1 Total1
By type
2 Liabilities reported by banks in the United States2
2004
2005'
June"
June
8
Dec'
May'
June'
July'
Aug.p
1,909,034
2,165,852
1,954,620
2,109,144
2,165,852
2,239,473
2,252,031
2,272,890
2,289,688
270.387
245,199
296,647
201,863
288,792
204,912
288,792
204,912
296.647
201,863
320,364
195,085
337,765
187,962
336,779
187,098
318.171
192,378
986 454
1,630
405,363
1 076 908
948
589,486
1 030 763
911
429,242
1 052 742
911
561,787
1 076 908
948
589,486
1 086 018
980
637,026
1 081 581
986
643,737
1 089 821
993
658,199
1 107 186
999
670,953
357,322
7,806
112,608
1,388,409
10,843
31,866
368,516
7,211
128,006
1,615,397
17,214
29,502
364,413
7,569
113,245
1,417,229
14,551
37,433
350,973
6,679
122,989
1,575,240
15,247
38,010
368,516
7,211
128,006
1,615,397
17,214
29,502
395,864
7,932
141,585
1,637,310
17,786
38,990
400,954
6,813
148,097
1,641,176
18,665
36,320
401,552
7,341
150,320
1,657,798
19,275
36,598
389,581
7,084
158,331
1,680,425
19,455
34,806
U.S. Treasury bonds and notes
5
Nonmarketable4
6 U.S. securities other than U.S. Treasury securities5
By area
7 Europe1
9 Latin America and Caribbean
10 Asia
11 Africa
1. Includes the Bank for International Settlements.
2. Principally demand deposits, time deposits, bankers acceptances, commercial paper,
negotiable time certificates of deposit, and borrowings under repurchase agreements.
3. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
4. Excludes notes issued to foreign official nonreserve agencies. Includes current value of
zero-coupon Treasury bond issues to foreign governments as follows: Mexico, beginning
March 1990, 30-year maturity issue; Venezuela, beginning December 1990, 30-year maturity
issue; Argentina, beginning April 1993, 30-year maturity issue.
5. Debt securities of U.S. government corporations and federally sponsored agencies, and
U.S. corporate stocks and bonds.
3.16
LIABILITIES TO, AND CLAIMS ON, FOREIGNERS
Payable in Foreign Currencies
6. Data in the two columns shown for this date reflect different benchmark bases for
foreigners' holdings of selected U.S. long-term securities. Figures in the first column are
comparable to those for earlier dates; figures in the second column are based in part on a
benchmark survey as of end-June 2005 and are comparable to those shown for the following
dates.
SOURCE: Based on U.S. Department of the Treasury data and on data reported to the
Treasury by banks (including Federal Reserve Banks) and securities dealers in the United
States, and in periodic benchmark surveys of foreign portfolio investment in the United
States.
Reported by Banks in the United States1
Millions of dollars, end of period
2005
Item
2002
2003
2006
2004
Sept.
Dec.
Mar.
June
2
3
Deposits
Other liabilities
80,543
n.a.
n.a.
63,119
36,674
26 ,AAi
98,349
52,410
45,939
109,367
67,668
41,699
85,841
59,241
26,600
94,756
60,726
34,030
100,448
64,735
35,713
5
Deposits
71,724
34,287
37,437
81,669
38,102
43,567
129,544
51,029
78,515
101,745
42,883
58,862
93,290
43,868
49,422
106,489
49,340
57,149
107,859
48,724
59,135
8
Deposits
35,923
7,907
28,016
21,365
5,064
16,301
32,056
8,519
23,537
45,118
21,616
23,502
54,698
20,835
33,863
65,338
24,015
41,323
88,716
26,928
61,788
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 • October 2006
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Apr.
May
July'
Aug.p
BY HOLDER AND TYPE OF LIABILITY
1 Total, all foreigners . .
3,080,496
3,231,063
3,234,225"
3,392,113"
3,328,427
3,387,391
3,370,964
2 Banks' own liabilities
By type of liability
3
Deposits2
4
Other
5
Of which: repurchase agreements3
6
Banks' custody liabilities4
By type of liability
7
U.S. Treasury bills and certificates5
8
Other negotiable and readily transferable
instruments'"
9
Of which: negotiable time
certificates of deposit held in custody
for foreigners
10
Of which: short-term agency securities7 . . .
11
Other
,677,193
2,082,981
,299,172
!,452,162
2,451,566'
1,609,907' 2,682,473' 2,468,311
!,497,584
2,471,581
852,803
824,390
460,191
638,413
955,072
1,127,909
665,127
1,043,801
1,255,371
712,549
781,324
1,087,256
1,364,906
804,186
778,901
1,167,334
1,330,250
769,596
889,807
1,128,654
1,342,927
773,004
259,843
275,808
1,101,727' 1,196,365' 1,250,850' 1,152,729
1,349,839' 1,413,542' 1,431,623' 1,315,582
767,973
810,396'
853,179
768,352
782,206'
860,116
809,043'
782,659'
258,862
248,405
255,477
277,836
34,394
83,633
176,842
48,260
152,789
194,583
53,594
136,783
201,655
52,886
114,782
198,053
52,170
116,621'
200,654
12 Nonmonetary international and regional organizations5
13
Banks' own liabilities
14
Deposits2
15
Other
16
Banks' custody liabilities4
17
U.S. Treasury bills and certificates5
18
Other negotiable and readily transferable
instruments'"
Other
19
14,149
12,577
6,134
6,443
1,572
110
15,654
10,363
6,098
4,265
5,291
1,879
20,793
15,612
8,361
7,251
5,181
1,085
23,116
18,050
9,598
8,452
5,066
1,398
1,462
0
3,412
4,096
0
3,668
401,856
117,737
24,208
93,529
515,586
145,516
26,613
118,903
498,510
170,984
45,426
125,558
503,209
179,927
45,417
134,510
284,119
212,032
370,070
245,199
327,526
201,863
323,282
216,047
69,638
2,449
123,165
1,706
124,538
1,125
1,380,639
1,163,309
706,536
456,773
217,330
18,267
1,574,793
1,354,437
773,703
580,734
220,356
26,978
1,790,292
1,565,079
840,076
725,003
225,213
23,771
1,872,729
1,647,631
874,627
773,004
225,098
23,486
49,311
149,752
52,400
140,978
48,777
152,665
48,374
153,238
48,860'
155,519
51,526'
151,157
36 Other foreigners''
37
Banks' own liabilities
38
Deposits2
39
Other
518,962
383,570
115,925
267,645
805,483
572,665
148,658
424,007
770,901
547,497
149,938
397,559
832,009
606,554
157,614
448,940
809,215'
574,947'
155,958'
418,989'
40
41
42
135,392
28,388
232,818
44,727
223,404
33,124
225,455
34,877
82,363
24,641
136,192
51,899
142,415
47,865
145,764
44,814
20 Official institutions9
21
Banks' own liabilities
22
Deposits2
23
Other
24
25
26
27
Banks' custody liabilities4
U.S. Treasury bills and certificates5
Other negotiable and readily transferable
instruments''
Other
28 tanks10
29
Banks' own liabilities
30
Deposits2
31
Other
32
Banks' custody liabilities4
33
U.S. Treasury bills and certificates5 . .
34
Other negotiable and readily
transferable instruments'"
35
Other
43
Banks' custodial liabilities
U.S. Treasury bills and certificates5 .
Other negotiable and readily
transferable instruments''
Other
2,315,606
258,797
828,535
318,783
899,383
259,324
365,416
349,693'
359,109
55,515
118,948'
197,218
58,867
131,981'
203,873
56,697
143,298
252,602
58,913
136,007
268,392
63,069
124,441
274,643
20,802
16,073
9,209
6,864
4,729
1,399
19,551
14,177
9,470
4,707
5,374
1,081
19,422
14,306
8,846
5,460
5,116
1,057
18,778
13,531
8,518
5,013
5,247
1,334
21,850
16,289
9,939
6,350
5,561
1,445
18,218
13,476
9,549
3,927
4,742
843
3,330
4,293
0
4,059
3,913
0
4,116
0
3,897
2
511,316'
194,540'
45,012'
149,528
498,792'
195,837'
45,652'
150,185
515,449'
202,717'
49,598'
153,119
525,727
214,516
51,180
163,336
523,877
215,536
50,892
164,644
510,549
202,337
53,813
148,524
316,776
215,489
302,955
197,456
312,732
195,085
311,211
187,962
308,341
187,098
308,212
192,378
101,286
105,498
1
117,614
33
123,206
43
121,242
1
115,788
46
1,892,892' 2,027,827' 2,087,240' 1,954,253
1,666,006' 1,801,254' 1,853,879' 1,673,333
931,025
983,458' 1,034,331'
891,548'
742,308
817,796
774,458'
819,548
280,920
226,573'
226,886'
233,361'
21,458
23,890
22,507
23,642
1,996,022
1,694,485
943,297
751,188
301,537
26,598
1,993,567
1,686,687
902,120
784,567
306,880
27,127
52,079'
157,640
53,973
205,489
53,623
221,316
52,476
227,277
845,943'
598,639'
157,785'
440,854'
869,405'
611,571'
158,075'
453,496'
829,669
566,931
162,006
404,925
845,642
571,274
163,206
408,068
848,630
569,081
163,172
405,909
234,268
38,441
247,304
36,435
257,834
35,693
262,738
37,651
274,368
39,541
279,549
38,976
150,693
45,134
164,809
46,060
175,941
46,200
178,017
47,070
187,752
47,075
193,255
47,318
304,169'
315,169
254,682
MEMO
44 Own foreign offices12
1. Reporting banks include all types of depository institutions as well as some banks/
financial holding companies and brokers and dealers. Excludes bonds and notes of maturities
longer than one year. Effective February 2003, coverage is expanded to include liabilities of
brokers and dealers to affiliated foreign offices.
2. Non-negotiable deposits and brokerage balances.
3. Data available beginning January 2001.
4. Financial claims on residents of the United States, other than long-term securities, held
by or through reporting banks for foreign customers. Effective February 2003, also includes
loans to U.S. residents in managed foreign offices of U.S. reporting institutions.
5. Includes nonmarketable certificates of indebtedness and Treasury bills issued to official
institutions of foreign countries.
6. Principally bankers acceptances, commercial paper, negotiable time certificates of
deposit, and short-term agency securities.
7. Data available beginning January 2001.
8. Principally the International Bank for Reconstruction and Development, the InterAmerican Development Bank, and the Asian Development Bank. Excludes "holdings of
dollars" of the International Monetary Fund.
9. Foreign central banks, foreign central governments, and the Bank for International
Settlements.
10. Excludes central banks, which are included in "Official institutions." Includes positions with affiliated banking offices also included in memo line (44) above.
11. As of February 2003, includes positions with affiliated non-banking offices also
included in memo line (44) above.
12. For U.S. banks, includes amounts owed to own foreign branches and foreign subsidiaries consolidated in the quarterly Consolidated Reports of Condition filed with bank
regulatory agencies. For agencies, branches, and majority-owned subsidiaries of foreign
banks, consists principally of amounts owed to the head office or parent foreign office, and to
foreign branches, agencies, or wholly owned subsidiaries of the head office or parent foreign
bank. Effective February 2003, includes amounts owed to affiliated foreign offices of U.S.
brokers and dealers.
Bank-Reported Data
3.17
LIABILITIES TO FOREIGNERS
Payable in U.S. dollars
47
Reported by Banks in the United States1—Continued
Millions of dollars, end of period
Apr.
Aug.p
May
AREA OR COUNTRY
45 Total, all foreigners
2,315,606
2,911,516
3,080,496' 3,231,063' 3,234,225' 3,392,113' 3,491,516" 3,328,427" 3,387,391' 3,370,964
46 Foreign countries
2,301,457
2,895,862
3,059,703' 3,207,947' 3,213,423' 3,372,562' 3,472,094' 3,309,649' 3,365,541' 3,352,746
781,550
4,826
9,359
3,631
1,783
40,719
46,806
1,264
6,215
35,855
15,857
22,429
952
41,673
9,902
7,082
110,626
13,748
332,528
20,802
162
55,331
1,050,895
4,355
13,512
3,147
1,088
81,852
54,822
1,178
7,198
50,305
18,170
32,742
1,545
70,186
8,410
6,118
99,224
5,188
470,304
21,262
110
100,179
1,229,044' 1,322,009' 1,332,260' 1,451,104' 1,506,331' 1,307,479' 1,274,117' 1,244,667
6,157
5,741
5,336
5,477
5,460
4,267
3,604
4,219
14,206
15,225'
14,572
14,137
15,245
18,150
17,738
16,022
1,833
2,243
1,692
2,007
2,073
2,358
1,537
1,649
3,063
997
1,174
2,108
3,476
1,603
953
3,612
78,581'
73,883
106,596'
107,503'
85,477'
97,155'
74,169'
71,489'
59,403'
56,526'
56,312'
61,600'
59,592'
58,872'
59,649'
54,469
1,220
1,276
1,045
1,520
1,490
1,276
1,200
1,499
6,373
6,583
6,720'
5,985'
6,780'
7,075'
5,909
5,899'
66,016'
67,933'
68,565
66,332
65,351
61,755
61,065
60,389
26,144
23,897
27,720
20,718
19,441'
14,465'
22,849'
27,929
61,452
55,473'
53,470
49,275
45,478
26,862
27,921
40,391
2,954
3,182
2,346
2,332
3,223
3,804
2,734
2,716
98,221
89,418
73,652
93,490
95,081
91,133
94,220
101,335
8,674
8,842
8,088
7,592
7,805
11,067'
9,535'
11,121
4,672'
3,970'
4,468
4,513
5 833
4,135
4,771
5,189
81,654
51,677'
35,857
194,443'
138,472'
116,720'
139,857'
207,104'
7,856
8,608
10,154
10,936
10,787
10,650
12,658
9,896
646,717'
651,506'
668,582
670,324' 704,319'
630,501'
648,541'
563,363'
27,558'
27,092'
27,062
28,365
29,212
28,416
30,390
29,559
196
202
236
113
98
97
103
119
112,638'
110,641'
110,102
108,720
99,574
109,197'
103,041'
101,031'
47 Europe
48 Austria
49
Belgium13
50
Denmark
51
Finland
52 France
53
Germany
54
Greece
55
Italy
56 Luxembourg13
57
Netherlands
58
Norway
59 Portugal
60
Russia
61
Spain
62
Sweden
63
Switzerland
64 Turkey
65
United Kingdom
66
Channel Islands and Isle of Man14
67
Yugoslavia15
68
Other Europe and other former U.S.S.R."'
35,590
34,248
33,186'
38,961'
32,180
41,692'
39,164
39,748'
41,104'
43,594
70 Latin America
71
Argentina
72
Brazil
73
Chile
74
Colombia
75
Ecuador
76
Guatemala
77
Mexico
78 Panama
79
Peru
80
Uruguay
81
Venezuela
82
Other Latin America17
110,566
9,758
16,283
4,438
4,235
2,567
1,547
35,389
4,093
1,401
3,670
21,222
5,963
135,970
10,817
15,186
7,299
6,286
2,687
1,530
50,575
4,513
1,971
4,150
24,573
6,383
133,654'
9,674
11,901
8,961
6,477
3,393
1,643
42,532'
5,277
3,051
4,939
27,262
8,544
142,178
9,486
16,219
9,551
9,785
3,195
1,842
43,776
5,164
2,537
5,687
25,369
9,567
145,263
9,737
19,188
12,229
10,527
3,282
1,759
42,061
5,750
2,778
5,420
22,925
9,607
150,722
10,141
19,858
9,971
10,497
3,341
1,618
47,833
5,631
3,665
5,242
22,805
10,120
145,422
10,211
19,581
11,151
11,144
2,768
1,574
42,678
5,779
3,186
5,185
21,599
10,566
155,108'
9,984'
16,682
12,504
11,239'
2,671
1,422
52,804
5,315
3,306
5,487
22,498
11,196'
157,926'
9,947
18,406'
13,943
11,898'
2,657
1,616
50,298'
5,734'
4,119
5,723'
22,678
10,907
155,650
10,204
14,903
14,170
11,951
2,589
1,538
53,253
5,905
3,241
5,478
22,232
10,186
83 Caribbean
84
Bahamas
85
Bermuda
86
Cayman Islands15
87
Cuba
88 Jamaica
89
Netherlands Antilles
90 Trinidad and Tobago
91
Other Caribbean"
969,986
153,554
38,964
739,204
96
669
8,689
1,253
27,557
1,212,209
186,097
92,577
884,980
110
829
5,863
1,624
40,129
92 Asia
China
Mainland
Taiwan
Hong Kong
India
Indonesia
Israel
Japan
Korea (South)
Philippines
Thailand
Middle Eastern oil-exporting countries19
Other
373,024
420,635
408,333'
382,009'
372,964'
366,253'
367,237'
366,078'
387,974'
399,573
13,236
26,808
49,557
14,534
14,373
12,223
162,003
12,647
1,683
7,226
23,626
35,108
52,767
26,496
42,788
11,154
5,903
11,214
167,008
12,421
2,949
11,355
38,257
38,323
46,462
23,253
34,006'
13,736
4,212'
9,802
156,249'
27,095
3,777
9,965
49,467'
30,309
34,390'
22,230'
32,185'
11,072
3,319
8,557
145,359'
26,778
3,538
11,630
55,487'
27,464
34 473'
19,456'
25,384'
13,251
7,805
7,484
138,643
25,430
3,429
12,704
56,904'
28,001
29 593'
22,220
29,831
14,222
5,819
8,057
132,210
23,174
4,048
11,529
55,769'
29,781
30,215'
20,101
29,642'
15,340
5,421
8,076
130,582
22,468
3,749
12,758
57,752
31,133
35,054'
17,700
28,145
15,903
4,033
6,733'
127,636
21,388
3,938
11,578
61,689
32,281
38,976'
21,330
31,610'
16,673'
4,568
6,776
135,665'
21,866'
3,557
11,037'
64,726
31,190
50,443
20,017
35,339
16,435
4,685
6,297
133,539
21,882
3,654
10,252
65,185
31,845
105 Africa
106
Egypt
107
Morocco
108
South Africa
109
Congo (formerly Zaire)
110
Oil-exporting countries20
111
Other
13,828
2,336
376
3,715
18
3,498
3,885
14,580
2,711
156
3,284
4
4,326
4,099
20,096'
4,954'
138
3,049
7
6,858'
5,090'
22,401'
5,234'
131
3,541
5
8,522'
4,968'
17,957'
4,355'
231
3,898
3
4,674'
4,796'
17,175'
4,412'
211
1,766
18,399'
4,228
154
1,602
9
6,908
5,498'
19,753
3,409
208
1,610
5,443'
5,341'
18,113'
3,425'
122
1,627
3
7,676'
5,260'
6,906
7,617
19,704
2,769
198
1,914
7
7,830
6,986
112 Other countries
113 Australia
114
New Zealand21
115 All other
16,913
14,020
2,465
428
27,325
23,391
3,429
505
21,242
17,769
3,007
466
22,683
17,438
4,712
533
25,536
20,558
4,355
623
28,900
23,457
4,579
864
32,687
26,958
4,988
741
30,274
25,143
4,485
646
31,099
25,919
4,351
829
32,663
26,971
4,862
830
116 Nonmonetary international and regional organizations
117
International22
118 Latin American regional23
119
Other regional24
14,149
10,500
420
3,166
15,654
11,542
1,993
2,006
20,793
15,684
2,036
2,979
23,116'
18,894
1,626
2,505'
20,802
16,783
1,604
2,320
19,551
14,112
2,373
2,729
19,422
14,909
1,634
2,454
18,778'
13,951'
1,879
2,534
21,850'
16,813'
2,180'
2,586
18,218
13,427
1,885
2,739
69 Canada
93
94
95
96
97
98
99
100
101
102
103
104
13. Before January 2001, data for Belgium-Luxembourg were combined.
14. Before January 2001, these data were included in data reported for the United
Kingdom.
15. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
16. Includes the Bank for International Settlements and the European Central Bank.
17. Before January 2001, data for "Other Latin America" and "Other Caribbean" were
combined in "Other Latin America and Caribbean."
18. Beginning January 2001, data for the Cayman Islands replaced data for the British
West Indies.
1,214,148' 1,277,706' 1,287,263' 1,316,716' 1,363,140' 1,392,563' 1,453,568' 1,456,895
237,866
229,953'
235,630'
223,302'
224,511'
229,935'
228,979'
211,459'
45,683
45,571'
48,125
52,526
55,418
56,790
44,557'
52,150'
995,143 1,030,090 1,069,361' 1,136,556' 1,127,811
962,961
947,665'
907,910'
127
125
124
123
122
121
127'
120
937
753
843
818
897
827
1,199
916
7,263
9,865'
10,188
6,783
6,419'
8,479
6,096
6,397
2,694
2,930
3,034
3,348
2,835
2,896
2,849
2,830
34,514
34,005'
35,106
33,223
33,268'
33,429
33,051
32,366
19. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
20. Comprises Algeria, Gabon, Libya, and Nigeria.
21. Before January 2001, these data were included in "All other."
22. Principally the International Bank for Reconstruction and Development. Excludes
"holdings of dollars" of the International Monetary Fund.
23. Principally the Inter-American Development Bank.
24. Asian, African, Middle Eastern, and European regional organizations, except the Bank
for International Settlements, which is included in "Other Europe."
48
Federal Reserve Bulletin Statistical Supplement • October 2006
3.18
BANKS' OWN CLAIMS ON FOREIGNERS
Payable in U.S. dollars
Reported by Banks in the United States1
Millions of dollars, end of period
Area or country
Apr.
May
Aug.'
1 Total, all foreigners
1,322,363
1,664,223
1,864,006'
2,007,943'
1,999,618'
2,085,833' 2,146,807' 2,039,625
2,065,592
2,051,852
2 Foreign countries
1,317,292
1,658,247
1,856,756'
2,002,111'
1,992,206
2,079,003
2,139,176
2,030,688
2,060,393
2,046,291
591,018
4.819
6,910
2.814
8,160
63,719
25,811
238
7,310
5,512
21,415
17,666
2,106
1,233
2,295
15,269
78,716
2,149
268,822
43,099
0
12,955
806,546
4,429
7,751
735
11,840
90,941
26,196
94
16,906
5,864
22,090
25,517
1,576
1,089
8,452
17,027
114,167
2,542
404,844
26,878
0
17,608
918,574'
4,109'
11,886
864
9,247
88,873
30,027
97
18,482
8,201
20,907
14,688
832
1,264
8,372
9,452
143,891
3,270
487,502'
32,566'
0
24,044
993,541'
4,224
18,446
1,022
9,407
89,455
28,380
299
17,688
9,385'
22,684
15,266
677
1,353
12,649
11,965
106,776
3,213
583,216'
32,698'
0
24,738
1,014,050
4,540
15,922
365
9,256
90,155
28,071
236
18,274
9,087
19,937
19,557
607
2,109
12,137
13,460
166,345
3,190
546,853'
32,701'
0
21,248
1,072,885
4,551
18,379
1,369
9,691
106,092
26,578
120
17,396
10,124
23,214
21,196
757
2,083
10,105
14,303
195,010
3,203
551,948
32,749
0
24,017
1,093,377
4,911
20,852
828
8,638
120,355
22,313
168
18,954
10,303
25,427
24,089
976
1,927
7,745
13,529
198,605
3,100
554,617
30,996
0
25,044
1,003,860
4,923
18,777
1,295
11,128
105,320
20,467
128
19,455
10,260
24,317
24,613
830
4,432
7,717
10,662
115,697
3,293
566,754
29,940
0
23,852
999,808
5,186
14,295
773
11,742
103,508
21,159
123
21,193
9,881
31,998
25,049
799
2,795
7,546
11,486
138,511
3,406
536,673
30,454
0
23,231
986,299
6,235
13,185
944
8,495
96,491
19,859
168
24,457
10,097
22,266
26,840
801
3,532
8,102
11,346
108,443
3,421
565,312
30,304
1
26,000
52,140
51,088
63,422
56,858
61,060
65,488
59,073
67,074
64,812
73,568
54,399
2,209
16,875
6,814
2,727
542
996
15,872
2,067
1,178
425
2,104
2,590
52,418
2,350
15,370
6,983
2,593
564
956
15,438
2,090
1,232
414
2,013
2,415
54,490
2,339'
15,580
6,896
2,619
540
892
17,312
2,448
1,240
393'
1,984
2,247'
53,926
2,562
16,285
6,501
2,548
533
845
16,513
2,341
1,194
394
1,994
2,216
55,560
2,184
18,527
6,426
2,596
546
844
16,433
2,199
1,298
341
1,932
2,234
3 Europe
4
Austria
5
Belgium2
6
Denmark
7
Finland
8
France
9
Germany
10
Greece
11
Italy
12 Luxembourg2
13
Netherlands
14
Norway
15 Portugal
16
Russia
17
Spain
18
Sweden
19
Switzerland
20
Turkey
21
United Kingdom
22
Channel Islands and Isle of Man3
23
Yugoslavia4
24
Other Europe and other former U.S.S.R.5
25 Canada
26 Latin America
27
Argentina
28
Brazil
29
Chile
30
Colombia
31
Ecuador
32
Guatemala
33
Mexico
34 Panama
35 Peru
36
Uruguay
37
Venezuela
38
Other Latin America1"
51,517
3,819
15,825
6,094
2,026
404
781
13,583
1,844
1,370
465
2,911
2,395
49,378
2,220
14,094
6,213
2,645
469
866
13,440
1,939
1,529
403
2,844
2,716
51,173
2,290
15,111
6,642
2,438
582
872
14,604
2,076
1,226
464
2,273
2,595
53,286
2,408
17,142
6,489
2,838
597
1,014
14,468
1,911
1,159
437
2,247
2,576
52,478
2,246
15,901
6,565
2,902
572
986
14,766
2,173
1,188
455
2,174
2,550
39 Caribbean
40
Bahamas
41
Bermuda
42
Cayman Islands7
43
Cuba
44
Jamaica
45
Netherlands Antilles
46
Trinidad and Tobago
47
Other Caribbean8
492,705
73,709
14,889
391,524
0
377
6,629
665
4,912
596,931
80,183
33,294
469,166
0
351
5,554
755
7,628
620,474'
113,458'
17,846
475,227'
0
444
4,444
907
8,148
697,400'
142,394'
21,903
518,720
0
454
4,619
792
8,518
678,014
126,898
22,246
514,321
0
465
4,517
771
8,796
703,505
134,896
20,092
533,145
0
454
4,464
854
9,600
737,590
157,913
19,589
538,967
0
523
4,557
870
15,171
704,829
163,822
19,692
509,306
0
568
4,276
902
6,263
735,720
158,376
23,622
537,886
0
519
7,123
787
7,407
709,143
157,849
21,013
513,261
0
673
8,008
730
7,609
48 Asia
China
49
Mainland
50
Taiwan
51
Hong Kong
52
India
53
Indonesia
54
Israel
55 Japan
56
Korea (South)
57
Philippines
58 Thailand
59
Middle Eastern oil-exporting countries5
60
Other
119,562
142,656
190,589'
189,200
172,316
169,998
181,411
184,877
190,797
204,795
4,134
9,659
7,190
1,588
838
5,122
62,059
11,395
1,693
989
6,782
8,113
9,267
10,589
5,622
2,117
555
1,326
82,207
15,531
993
1,144
7,022
6,283
14,780
8,626
8,398
2,518
440
4,288
106,377'
17,274
1,790
7,796
12,330
5,972
17,688
6,003
6,395
3,189
417
4,115
114,182
15,232
956
7,765
8,615
4,643
16,910
6,422
7,499
2,063
438
3,243
100,944
11,991
1,202
6,837
9,291
5,476
15,341
5,389
6,947
2,549
436
5,414
96,269
16,263
954
6,937
8,323
5,176
14,885
6,027
7,623
2,043
433
5,580
105,058
17,463
917
8,881
8,104
4,397
19,510
4,004
9,767
1,835
551
3,984
102,537
17,509
1,247
7,825
10,317
5,791
21,137
4,558
9,043
1,985
377
4,074
104,851
20,639
846
7,315
10,828
5,144
19,553
4,790
9,438
2,174
366
5,196
119,158
18,658
1,093
7,016
11,450
5,903
61 Africa
62 Egypt
63
Morocco
64
South Africa
65
Congo (formerly Zaire)
66
Oil-exporting countries9
67
Other
1,453
236
46
453
0
147
571
1,262
228
53
318
0
223
440
1,621
422
63
331
0
317
488
1,396
341
58
194
0
317
486
1,597
431
62
312
0
294
498
1,686
470
55
296
0
297
568
1,751
466
81
338
0
303
563
1,948
587
75
435
0
297
554
2,073
608
59
576
0
312
518
1,888
603
69
309
0
332
575
68 Other countries
69
Australia
70
New Zealand10
71
Allother
8,897
8,037
819
41
10,386
9,695
609
82
10,903
10,184
541
178
10,430
9,512
609
309
12,691
11,817
541
11,042
10,117
589
336
13,556
12,634
469
453
13,610
12,381
827
402
13,257
12,480
615
162
15,038
14,172
656
210
72 Nonmonetary international and regional organizations"
5,071
5,976
7,250
5,832
7,412'
6,830'
7,631'
8,937
5,199
5,561
1. Reporting banks include all types of depository institutions as well as bank/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border brokerage
balances.
2. Before January 2001, combined data reported for Belgium-Luxembourg.
3. Before January 2001, data included in United Kingdom.
4. In February 2003, Yugoslavia changed its name to Serbia and Montenegro. Data for
other entities of the former Yugoslavia recognized as independent states by the United States
are reported under "Other Europe."
5. Includes the Bank for International Settlements and the European Central Bank.
6. Before January 2001, "Other Latin America" and "Other Caribbean" were reported as
combined "Other Latin America and Caribbean."
7. Beginning 2001, Cayman Islands replaced British West Indies in the data series.
8. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
9. Comprises Algeria, Gabon, Libya, and Nigeria.
10. Before January 2001, included in "All other."
11. Excludes the Bank for International Settlements, which is included in "Other Europe."
Bank-Reported Data
3.19
BANKS' OWN AND DOMESTIC CUSTOMERS' CLAIMS ON FOREIGNERS
Payable in U.S. dollars
49
Reported by Banks in the United States1
Millions of dollars, end of period
2006
Type of claim
2003
2004
2005'
Feb.'
1 Total claims reported by banks
Mar.
Apr.'
May'
2 085 833
76,322
1 578 374
431,137
2,146,807
82,403
1 615771
448,633
June
July'
Aug.'
2,065,592
87,735
1 549 286
428,571
2,051,852
88,026
1 536 717
427,109
1,596,965
2,026,841
2,292,500
1 322 363
53.328
979 597
289.438
1 664 223
71,892
1 187 954
404,377
1 864 006
72,871
1 391 180
399,955
274.602
129,787
71.791
63,225
9.799
362,618
152,520
107,533
88,423
14,142
428,494
176,858
91,196
140,863
19,577
11 Non-negotiable deposits7
12 Negotiable CDs7
13 Other short-term negotiable
500,085
376
668,255
3,970
747,930
2,804
844,067
2,387
830,978'
2,679
862,604
2,210
922,198
1,990
898,744'
891,853
882,710
14 Other claims7
5,328
816,574
934,166
3,888
988,110
1,097,873
7,276
1,105,996
1,303,731
10,520
1,150,969
1,403,194
9,783
1,156,178'
1,433,195
11,883
1,209,136
1,486,861
11,619
1,211,000
1,534,484
1,129,800'
1,471,014'
1,160,123
1,436,720
1,155,029
1,448,203
344,753
479,422
481,470
544,628
516,346
505,617
521,137
478,954
489,301
492,410
3
Foreign official institutions2
5
Other foreigners4
6 Claims on banks' domestic customers5
7
Non-negotiable deposits
8
Negotiable CDs
9
Other short-term negotiable instruments6 . .
10
Other claims
2,472,324'
2 007 943
73,635
1 505 058
429,250
1 999 618'
73,577
1 499 158'
426,883'
2,552,650
472,706
206,572
91,927
153,504
20,703
2,039,625
86,892
1 530 465'
422,268'
513,025
224,590
109,664
154,917
23,854
MEMO
16 Loans collateralized by repurchase
1. For banks' claims, data are monthly; for claims of banks' domestic customers, data are
for the quarter ending with the month indicated.
Reporting banks include all types of depository institutions as well as banks/financial
holding companies and brokers and dealers. Effective February 2003, coverage is expanded to
include claims of brokers and dealers on affiliated foreign offices and cross-border balances.
2. Prior to February 2003, reflects claims on all foreign public borrowers.
3. Includes positions with affiliated banking offices also included in memo line (15) above.
4. As of February 2003, includes positions with affiliated non-banking offices also included
in memo line (15) above.
5. Assets held by reporting banks in the accounts of their domestic customers. Effective
March 2003, includes balances in off-shore sweep accounts.
6. Primarily bankers acceptances and commercial paper. Prior to February 2003, also
includes negotiable certificates of deposit.
7. Data available beginning February 2003.
8. For U.S. banks, includes amounts due from own foreign branches and foreign subsidiaries consolidated in quarterly Consolidated Reports of Condition filed with bank regulatory
agencies. For agencies, branches, and minority-owned subsidiaries of foreign banks, consists
principally of amounts due from the head office or parent foreign bank, and from foreign
branches, agencies, or wholly owned subsidiaries of the head office or parent foreign bank.
Effective February 2003, includes amounts due from affiliated foreign offices of U.S. brokers
and dealers.
9. Data available beginning January 2001.
50
Federal Reserve Bulletin Statistical Supplement • October 2006
3.22
LIABILITIES TO 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
67,664
83,240
108,339
108,339
107,795
97,800
94,443
96,409
100,005
By type
2 Financial liabilities
3
Short-term negotiable securities'
39,561
n.a.
53,150
14,002
79,177
11,759
79,177
11,759
75,039
9,027
61,916
9,576
57,322
5,438
58,948
6,252
59,126
5,021
52,340
51,884
n.a.
n.a.
8,498
22,946
6,315
49,882
6,315
49,882
8,163
45,852
5,657
34,151
10,732
32,124
7,070
35,338
8,404
35,500
18,844
20,717
n.a.
n.a.
n.a.
n.a.
n.a.
25,055
28,095
1,431
10,372
11,425
2,493
2,374
45,905
33,272
2,399
9,067
18,337
1,564
1,905
45,905
33,272
2,399
9,067
18,337
1,564
1,905
42,608
32,431
2,296
11,159
15,532
1,379
2,065
47,915
14,001
1,786
4,604
2,202
1,222
4,187
45,769
11,553
1,860
4,017
2,741
1,401
1,534
44,146
14,802
2,354
4,052
2,725
2,018
3,653
43,773
15,353
1,407
6,032
3,166
1,338
3,410
39,561
43,610
62,847
62,847
51,809
35,918
29,347
37,259
34,913
34,335
144
5,243
2,923
1,825
61
22,531
34,832
709
3,543
3,531
284
517
23,886
38,690
775
1,349
2,911
363
514
29,473
38,690
775
1,349
2,911
363
514
29,473
35,304
590
1,550
5,276
413
282
25,017
22,474
633
1,087
2,832
128
114
13,091
16,799
547
1,044
2,425
379
53
9,861
21,011
342
761
2,533
406
122
11,028
17,322
283
597
3,056
432
237
10,436
591
1,239
2,433
2,433
2,283
2,080
2,058
1,534
1,504
23
990
65
365
n.a.
31
1
4,235
0
711
242
n.a.
3,114
34
3
16,196
0
8,715
208
n.a.
7,178
26
18
16,196
0
8,715
208
n.a.
7,178
26
18
9,076
0
801
263
n.a.
7,871
8,012
0
115
240
n.a.
7,569
8
0
6,679
0
77
69
n.a.
6,489
28
0
9,652
0
808
56
n.a.
8,744
23
0
2,932
1,832
14
2,547
1,826
36
4,724
1,648
36
4,724
1,648
36
4,347
1,365
33
3,211
1,161
2
3,640
1,304
35
5,323
1,383
173
5,318
1,083
206
131
91
123
92
131
94
131
94
132
95
107
96
122
96
997
97
1,022
98
4 Other liabilities'
Of which:
5
Borrowings'
6
Repurchase agreements'
7
8
9
10
11
12
13
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
14 Financial liabilities to unaffiliated
foreigners
By area or country
15 Europe
16
Belgium-Luxembourg
17
France
18
Germany
19
Netherlands
20
Switzerland
21
United Kingdom
67,418
54,105
MEMO:
22
23
Euro area3
Canada
24
25
26
27
28
29
30
31
32
33
34
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
35
36
Africa
Oil-exporting countries'"
37
All other7
5,958
11,211
991
70
6,446
25
Nonbank-Reported Data
3.22
LIABILITIES TO FOREIGNERS
the United States—Continued
51
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of liability, and area or country
June
Sept
28.103
14,699
13.404
30,090
17,174
12,916
29,162
18,181
10,981
29,162
18,181
10,981
32,756
21,321
11,435
35,884
22,497
13,387
37,121
23,785
13,336
37,461
23,050
14,411
40,879
25,899
14,980
26.243
1,860
n.a.
n.a.
n.a.
n.a.
n.a.
27,632
2,458
199
787
606
209
657
25,811
3,351
224
1,058
704
296
1,069
25,811
3,351
224
1,058
704
296
1,069
29,533
3,223
200
1,026
634
314
1,049
33,010
2,874
143
1,028
585
119
999
34,335
2,786
163
1,041
397
286
899
34,637
2,824
171
1,009
477
309
858
37,931
2,948
182
1,142
484
300
840
8.257
141
765
781
590
433
2.649
9,821
159
900
855
384
1,367
3,025
9,030
123
1,019
1,024
305
564
3,407
9,030
123
1,019
1,024
305
564
3,407
9,861
100
1,600
1,020
322
739
3,376
10,729
103
1,669
965
402
893
3,203
11,344
124
1,816
1,006
329
1,106
3,442
10,574
109
1,870
1,113
489
1,113
11,173
86
1,960
1,092
580
708
3,414
Euro area3
4.200
4,198
3,730
56
Canada
1.588
2,166
2,145
2,145
2,143
2,179
2,836
2,375
2,846
57
58
59
60
61
62
63
64
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
3,073
51
538
253
36
n.a.
1.170
177
3,406
14
513
233
n.a.
40
1,298
329
4,276
515
113
n.a.
101
1,942
433
4,276
32
515
113
n.a.
101
1,942
433
4,894
66
511
97
n.a.
29
2,154
640
5,360
79
774
127
n.a.
76
2,210
522
5,228
74
621
143
n.a.
100
1,921
738
5,748
70
713
218
n.a.
76
2,209
680
5,752
82
688
160
n.a.
219
2,745
499
65
66
67
Asia
Japan
Middle Eastern oil-exporting countries-
13,382
4,292
3,979
13,311
4,370
3,148
12,239
4,221
2,910
12,239
4,221
2,910
14,339
5,317
3,855
16,127
5,671
4,221
16,408
5,892
3,862
17,427
5,971
3,986
19,875
6,146
5,329
68
Africa
827
405
782
372
947
424
947
424
935
447
1,009
627
851
459
916
493
714
342
38 Commercial liabilities
39
Trade payables
40
Advance payments and other liabilities .
41
42
43
44
45
46
47
48
49
50
51
52
53
54
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial liabilities
Europe
Belgium-Luxembourj
France
Germany
Netherlands
Switzerland
United Kingdom . . .
MEMO
69
70
Oil-exporting countries'"
All other7
MEMO
71
Financial liabilities to foreign affiliates5 . . .
1. Data available beginning March 2003.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial liabilities to foreign affiliates
of insurance underwriting subsidiaries of bank/financial holding companies and other financial intermediaries. These data are included in lines 1-6 above.
52
Federal Reserve Bulletin Statistical Supplement • October 2006
3.23
CLAIMS ON FOREIGNERS
the United States
Reported by Nonbanking Business Enterprises in
Millions of dollars, end of period
Type of claim, and area or country
Sept.
1 Total
2
3
4
5
6
7
8
9
10
11
12
13
14
15
By type
Financial claims
Non-negotiable deposits
Negotiable securities
Of which:
Negotiable CDs1
Other claims
Of which:
Loans'
Repurchase agreements'
By currency
U.S. dollars
Foreign currency2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
16 Financial claims on unaffiliated
foreigners
By area or country
17
Europe
18
Belgium-Luxembourg
19
France
20
Germany
21
Netherlands
22
Switzerland
23
United Kingdom
102,566
165,901
197,696
197,696
199,565
177,173
181,901
183,943
169,817
71,389
n.a.
n.a.
132,332
35,920
3,211
164,981
47,883
9,892
164,981
47,883
9,892
167,204
52,316
11,912
144,501
48,975
8,894
150,775
51,353
11,845
150,387
50,149
13,180
135,167
40,629
12,365
n.a.
44,064
157
93,201
103
107,206
103
107,206
94
102,976
173
86,632
82
87,577
65
87,058
82,173
n.a.
n.a.
69,208
3,253
59,683
24,034
59,683
24,034
64,386
12,737
57,548
8,069
56,381
8,499
51,034
8,696
52,822
5,724
65,070
6,319
n.a.
n.a.
n.a.
n.a.
n.a.
122,879
9,453
912
2,776
3,242
831
1,692
121,909
43,072
1,329
20,651
9,219
7,345
4,528
121,909
43,072
1,329
20,651
9,219
7,345
4,528
123,380
43,824
7,216
17,593
7,687
6,111
5,217
109,139
35,362
10,031
9,331
7,527
3,826
4,647
112,967
37,808
10,837
10,256
8,695
3,880
4,140
114,796
35,591
9,348
9,308
7,635
3,537
5,763
101,131
34,036
7,823
8,152
8,296
3,510
6,255
71,389
67,347
110,517
110,517
113,673
97,140
105,837
111,394
94,767
29,018
722
3,247
4,245
3,648
383
10,663
28,970
391
3,049
2,859
2,789
617
11,438
48,714
2,177
1,452
5,386
7,389
978
23,982
48,714
2,177
1,452
5,386
7,389
978
23,982
53,001
2,651
3,177
7,126
7,692
827
25,105
38,627
1,930
4,593
3,040
1,696
1,185
17,414
41,844
784
4,323
1,967
3,271
1,249
21,870
43,177
1,743
2,752
2,729
3,033
1,152
22,552
36,378
1,286
1,632
2,315
3,134
1,441
20,483
17,012
15,067
MEMO:
24
25
Euro area3
Canada
26
27
28
29
30
31
32
33
34
35
36
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countriesf
37
38
Africa
Oil-exporting countries'"
39
All other7
5,013
5,311
6,412
6,412
11,361
11,905
14,290
13,372
12,052
29,612
1,038
724
2,286
21,528
2,921
104
26,215
1,049
564
1,832
n.a.
20,015
1,629
131
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
47,149
1,576
4,708
1,823
n.a.
36,160
1,738
155
39,893
1,899
2,128
1,839
n.a.
31,162
1,727
164
38,915
3,436
1,316
1,480
n.a.
30,437
1,384
62
41,387
3,802
1,113
1,664
n.a.
31,761
1,950
156
44,622
1,590
1,149
1,950
n.a.
36,355
2,019
159
36,893
2,368
1,160
1,655
n.a.
29,238
1,406
163
5,358
1,277
79
5,317
1,194
158
6,840
993
137
6,840
993
137
7,680
981
133
6,120
784
114
6,546
610
93
7,223
568
242
6,565
496
251
395
25
419
12
306
8
306
8
290
16
345
55
1,291
37
36
1,096
1,448
1,709
1,611
1,115
Nonbank-Reported Data
3.23
53
CLAIMS ON FOREIGNERS Reported by Nonbanking Business Enterprises in
the United States—Continued
Millions of dollars, end of period
Type of claim, and area or country
Sept.
40 Commercial claims
41
Trade receivables
42
Advance payments and other claims
43
44
45
46
47
48
49
50
51
52
53
54
55
56
By currency
Payable in U.S. dollars
Payable in foreign currencies2
Canadian dollars
Euros
United Kingdom pounds sterling
Japanese yen
All other currencies
By area or country
Commercial claims
Europe
Belgium-Luxembourg
France
Germany
Netherlands
Switzerland
United Kingdom
31.177
26,385
4,792
33,569
28,618
4,951
32,715
29,229
3,486
32,715
29,229
3,486
32,361
27,844
4,517
32,672
28,576
4,096
31,126
27,535
3,591
33,556
29,231
4,325
34,650
30,178
4,472
26,481
4,696
25,494
8,075
1,557
1,542
1,187
589
3,200
27,439
5,276
512
1,561
1,586
238
1,379
27,439
5,276
512
1,561
1,586
238
1,379
27,608
4,753
499
1,530
1,110
239
1,375
28,347
4,325
407
1,442
1,098
153
1,225
27,417
3,709
372
1,227
780
206
1,124
29,898
3,658
481
1,335
706
187
949
30,511
4,139
444
1,777
736
126
1,056
14,187
269
3,164
1,202
1,490
503
3,727
14,552
247
2,816
1,273
395
1,921
3,928
13,457
257
2,261
1,401
494
1,528
3,742
13,457
257
2,261
1,401
494
1,528
3,742
13,369
366
2,865
1,476
490
1,283
3,295
13,096
402
2,233
1,477
461
1,319
3,119
12,183
396
2,023
1,438
339
1,358
3,053
12,084
470
2,311
1,509
354
724
2 fill
14,479
480
2,308
1,472
648
743
4,601
2,790
3,070
2,017
2,017
2,137
2,139
2,001
2,750
2,323
4,346
31
287
750
19
n.a.
1,259
5,153
26
460
903
n.a.
52
1,339
230
6,477
55
650
935
n.a.
160
2,018
319
6,477
55
650
935
n.a.
160
2,018
319
6,509
41
591
1,049
n.a.
75
1,859
365
6,310
29
581
952
n.a.
143
1,838
393
6,524
27
498
1,028
n.a.
294
1,812
390
6,757
41
648
1,022
n.a.
61
2,089
380
6,638
7,324
2,341
818
7,352
1,757
888
8,943
1,855
1,071
8,943
1,855
1,071
8,447
1,918
1,146
9,245
1,930
1,317
8,561
1,717
1,271
10,073
2,128
1,558
9,196
2,167
1,419
584
95
636
138
629
154
629
154
767
205
873
226
788
234
830
258
917
313
1,192
1,192
1,009
1,069
MEMO
57
58
Canada
59
60
61
62
63
64
65
66
67
68
69
Latin America and Caribbean
Bahamas
Bermuda
Brazil
British West Indies4
Cayman Islands
Mexico
Venezuela
Asia
Japan
Middle Eastern oil-exporting countries5
70
Africa
71
72
6,739
Euro area3
Oil-exporting countries6
All other7
7,922
731
865
n.a.
200
2,154
373
MEMO
73
Financial claims on foreign affiliates5
1. Data available beginning March 2003.
2. Foreign currency detail available beginning March 2003.
3. Comprises Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg,
Netherlands, Portugal, and Spain. As of December 2001, also includes Greece.
4. Beginning March 2003, data for the Cayman Islands replaced data for the British West
Indies.
5. Comprises Bahrain, Iran, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates (Trucial States).
6. Comprises Algeria, Gabon, Libya, and Nigeria.
7. Includes nonmonetary international and regional organizations.
8. Data available beginning March 2003. Includes financial claims on foreign affiliates of
insurance underwriting subsidiaries of bank/financial holding companies and other financial
intermediaries. These data are included in lines 1-8 above.
54
Federal Reserve Bulletin Statistical Supplement • October 2006
3.24
FOREIGN TRANSACTIONS IN SECURITIES
Millions of dollars
Transaction, and area or country
Jan.Aug.
Apr.
May
July
U.S. corporate securities
STOCKS
1 Foreign purchases
3.862.043
2 Foreign sales
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
438,434
421,832
516,363
497,140
456,731
450,138
609,929
607,225'
551,041
555,012
478,553
468,120
527,441
523,025
4,416
19,223
6,593
28,616
80,417
77,621
16,596
19,204
6,590
2,702'
-3,971
10,431
4,413
19,571
-876
-2,360
1,697
-1,194
15,208
-180
1,292
631
6,485
-320
2,832
-41
998
38,016
7,675
-3,278
-2,326
1,334
18,199
350
16,549
15,311
1,789
8,399
72
281
72
52,056
10,887
-4,591
-2,075
2,723
28,772
1,202
9,424
3,326
8,114
3,850
1,758
283
568
12,439
1,108
1,464
-831
1,491
8,423
-95
525
3,516
318
-429
-43
98
129
15,005
267
1,319
-473
570
12,450
70
3,170
453
975
-339
-783
5,570
3,936
-707
-1,024
-44
-920
-63
-535
-1,355
3,324
-639
-117
101
124
-1,314'
-1,621
-912
-766
-517
-2,878'
67
762
1,276'
120
1,979
583
71
-192
-3,483
-850
-4,274
18
-347
1,021
1,195
2,754
-5,304
771
1,323
447
-5
-27
4,033
178
-127
10
138
3,009
136
1,955
3,430
1,078
-315
-310
-4
254
6,030
2,280
-726
180
513
2,979
-149
14
-2,215
491
48
434
1
44
2,380,796
1,844,895
2,375,137
1,783,481
1,870,668
1,383,783
230,648
165,051
246,749
178,644
224,440'
171,947
273,112'
196,520'
241,638
179,942
204,764
167,252
241,951
173,192
80,374
3 Net purchases, or sales (-)
4 Foreign countries
4,036,167
3,958,507
-3,971
BONDS 3
20 Foreign purchases
21 Foreign sales
591,656
52,493'
588,531
485,372
65,293
67,800
52,416'
76,414'
61,562
37,662'
68,491
256,263
7,369
12,124
1,929
6,972
160,243
6,477
12,095
105,994
4,702
151,858
77,905
512
1,998
297,273
13,656
12,426
4,031
1,771
209,700
16,624
14,832
80,468
2,832
185,862
84,818
291
6,973
234,142
7,646
7,108
1,096
4,322
167,593
5,484
12,707
77,779
10,477
143,148
39,844
47
7,072
31,287
1,402
1,178
-99
891
22,913
502
2,092
9,977
717
20,384
4,968
-126
962
41,646
1,455
1,505
325
608
33,405
395
3,509
6,343
708
13,049
1,291
90
2,455
28,223
884
1,038
333
46
19,903
714
556'
5,903
1,394
14,341
4,000
62
1,937
39,597'
405
819
222
-563
28,043'
1,428
1,694
11,526
1,737
21,668
9,027
-73
265
36,123
388
1,070
1,390
24,981
1,188
3,045
4,020
1,307
16,048
3,329
91
928
5,602
1,660
-657
13
731
3,559
-342
536
14,067
1,558
15,645
5,098
-3'
257
29,284
3,252
128
199
1,035
19,636
203
918
15,559
2,389
20,329
5,061
97
-85
2,479
3,125
1,513
23 Foreign countries
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
Europe
France
Germany
Netherlands
Switzerland
United Kingdom
Channel Islands and Isle of Man1
Canada
Latin America and Caribbean
Middle East2
Other Asia
Japan
Africa
Other countries
Nonmonetary international and
regional organizations
68,759
68,105
533,422
22 Net purchases, or sales (-)
61,696
Foreign securities
39 Stocks, net purchases, or sales (-) .
40
Foreign purchases
41
Foreign sales
42 Bonds, net purchases, or sales (-) .
43
Foreign purchases
44
Foreign sales
-84,970
1,664,076
1,749,046
-67,872
1,459,043
1,526,915
-127,296
2,240,104
2,367,400
-45,095
1,459,882
1,504,977
-42,923
2,276,505
2,319,428
-72,705
1,138,936
1,211,641
-12,547
271,741
284,288
-207
141,170
141,377
-11,702
294,550
306,252
-7,154
165,624
172,778
-8,098
268,954
277,052
-8,119'
129,758
137,877'
-4,850'
371,188'
376,038'
-15,644
168,141
183,785
1,119'
307,312'
306,193'
-10,339'
139,733'
150,072
-2,908
245,933
248,841
-18,759'
119,475'
138,234'
7,140
272,919
265,779
-9,878
135,072
144,950
45 Net purchases, or sales (-), of stocks and bonds . .
-152,842
-172,391
-115,628
-12,754
-18,856
-16,217'
-20,494'
-9,220'
-21,667'
-2,738
46 Foreign countries
-141,025
-165,403
-118,106
-12,537
-19,294
-16,300'
-20,435'
-9,171'
-21,296'
-5,488
47
48
49
50
51
52
53
Europe
Canada
Latin America and Caribbean
Asia
Japan
Africa
Other countries
-124,892
-5,492
9,184
-12,814
-20,640
1,591
-8,602
-81,669
-4,559
-18,013
-45,551
-32,842
-1,668
-13,943
-102,996
-13,900
2,304
442
8,874
-1,518
-2,438
-5,730
-1,472
127
-5,080
-161
-246
-136
-11,697
-2,552
-500
-3,820
-368
-387
-338
-7,975'
-3,131
1,697
-3,803
434
-1,312
-1,776
-22,514'
-853
-1,938'
4,771'
4,515
128
-29
-20,404'
2,051
2,049
7,650
3,178
155
-672
-24,329'
-1,475
209
2,933
1,129
320
1,046
-9,508
-3,291
1,959
5,329
2,039
43
54 Nonmonetary international and
regional organizations
-11,817
1. Before January 2001, data included in United Kingdom.
2. Comprises oil-exporting countries as follows: Bahrain, Iran, Iraq, Kuwait, Oman, Qatar,
Saudi Arabia, and United Arab Emirates (Trucial States).
2,478
2,750
3. Includes state and local government securities and securities of U.S. government
agencies and corporations. Also includes issues of new debt securities sold abroad by U.S.
corporations organized to finance direct investments abroad.
Securities Holdings and Transactions
3.25
MARKETABLE U.S. TREASURY BONDS AND NOTES
55
Foreign Transactions1
Millions of dollars; net purchases, or sales (-), during period
Area or country
Jan.Aug.
Apr.
May
July
Aug.p
1 Total estimated
352,079
338,543'
116,982
21,069'
1,993'
3,356
8,185
26,982'
6,587
46,343
2 Foreign countries
351,360
335,591'
116,191
21,331'
2,319'
2,950
7,425
27,308'
6,216
46,600
88,431
118
8,804
-575
-3,153
3,236
5,342
78,661
1,175
-5,177
16,098
173,638'
500
14,497
2,046
-6,095
1,832
-4,904
134,118
419
31,225'
21,419
44,557
972
893
-1,046
-1,744
2,137
255
54,962
207
-12,079
17,390
4,945
119
-621
-55
-715
-349
478
5,436
-47
699
3,428
4,950'
162
-1,878
127
434
796
94
16,077
155
-11,017'
1,158
-13,818
434
1,413
140
-138
181
121
-11,064
-473
-4,432
1,218
944
19
260
5
-94
108
-16
8,343
242
-7,923
4,512
22,620'
-350
1,158
-551
519
10
59
26,306'
1
-4,532
563
-2,614
101
1,139
84
-1,112
191
-289
-11,383
76
8,579
779
16,051
120
1,038
-550
-508
32
238
33,544
-15
21,963
11,596
214,788
166,377
677
69,769'
518
68,412'
839
67,377'
-5,955
2,222
1,166
6,003
-49
5,050
1,002
46,618
-3,215
3,156
-1,533
-9,284
52
-8,799
-537
21,622'
7,262
901
-281
10,286
95
8,545
1,646
-14,792
-14,185
472
245
-1,046
-29
-1,021
4
17,169
3,905
286
-859
1,863
17
3,566
-1,720
-409
1,685
122
393
-809
1
-1,122
312
4,602
1,268
406
-74
6,916
-48
4,519
2,445
1,034
-747
460
-359
9,472
-18
10,993
-1,503
15,905
10,637
407
2,952
2,555
791
476
-2
-262
-220
-2
-326
-321
0
406
316
0
760
566
0
-326
-411
0
371
383
0
-257
-228
0
351,360
201,140
150,220
335,591'
68,475'
267,116'
116,191
30,278
85,913
21,331'
12,737'
8,594
2,319'
-7,255
9,574'
2,950
10,961
-8,011
7,425
-13,635
21,060
27,308'
-4,437
31,745'
6,216
8,240
-2,024
46,600
17,365
29,235
9,041
249
2,063
2,027
6,700
3,148
965
844
611
366
728
258
1,606
769
133
417
-540
94
3
4
5
6
7
8
9
10
11
12
13
Europe
Belgium2
Germany
Luxembourg2
Netherlands
Sweden
Switzerland
United Kingdom
Channel Islands and Isle of Man3
Other Europe and former U.S.S.R
Canada
14
15
16
17
18
19
20
21
Latin America and Caribbean
Venezuela
Other Latin America and Caribbean
Netherlands Antilles
Asia
Japan
Africa
Other
22 Nonmonetary international and regional organizations
23
International
24 Latin American Caribbean regional
-2,178
719
-26
-128
4,697
3,897
MEMO
25 Foreign countries
26
Official institutions
27
Other foreign
Oil-exporting countries
28 Middle East4
29 Africas
1. Official and private transactions in marketable U.S. Treasury securities having an
original maturity of more than one year. Data are based on monthly transactions reports.
Excludes nonmarketable U.S. Treasury bonds and notes held by official institutions of foreign
countries.
2. Before January 2001, combined data reported for Belgium and Luxembourg.
1,020
147
3. Before January 2001, these data were included in the data reported for the United
Kingdom.
4. Comprises Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab
Emirates (Trucial States).
5. Comprises Algeria, Gabon, Libya, and Nigeria.
56
Federal Reserve Bulletin Statistical Supplement • October 2006
3.28
FOREIGN EXCHANGE RATES AND INDEXES OF THE FOREIGN EXCHANGE VALUE OF THE U.S. DOLLAR1
Currency units per U.S. dollar except as noted
2006
Item
2003
2004
2005
Mar.
Apr.
May
June
July
Aug.
0.7639'
2.1697
1.1100
8.0131
5.8398
1.2767
7.7538
45.20
111.73
3.6091
11.091
0.6311'
6.1040
1.5755
6.3128
940.82
102.838
7.3050
1.2190
31.737
37.947
1.8687'
2,144.55
0.7399'
2.2493
1.1137
8.0042
5.8897
1.2661
7.7636
45.89
114.63
3.6638
11.393
0.6190'
6.2070
1.5912
6.9738
954.45
103.525
7.2949
1.2321
32.440
38.349
1.8435'
2,144.60
0.7528'
2.1883
1.1294
7.9897
5.8826
1.2681
7.7734
46.37
115.77
3.6679
10.983
0.6178'
6.2617
1.5837
7.0688
950.81
103.957
7.2654
1.2376
32.617
37.969
1.8443'
2,144.57
0.7631
2.1553
1.1182
7.9722
5.8236
1.2810
7.7762
46.45
115.92
3.6730
10.874
0.6348
6.2423
1.5754
6.9503
960.95
103.669
7.1890
1.2318
32.761
37.587
1.8941
2,144.60
Exchange rates
COUNTRY/CURRENCY UNIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
Australia/dollar2
Brazil/real
Canada/dollar
China, P.R./yuan
Denmark/krone
European Monetary Union/euro3
Hong Kong/dollar
India/rupee
Japan/yen
Malaysia/ringgit
Mexico/peso
New Zealand/dollar2
Norway/krone
Singapore/dollar
South Africa/rand
South Korea/won
Sri Lanka/rupee
Sweden/krona
Switzerland/franc
Taiwan/dollar
Thailand/baht
United Kingdom/pound2
Venezuela/bolivar
0.6524'
3.0750
1.4008
8.2772
6.5774
1.1321
7.7875
46.59
115.94
3.8000
10.793
0.5822'
7.0803
1.7429
7.5550
1,192.08
96.541
8.0787
1.3450
34.405
41.556
1.6347'
1,613.43
0.7365'
2.9262
1.3017
8.2768
5.9891
1.2438
7.7891
45.26
108.15
3.8000
11.290
0.6643'
6.7399
1.6902
6.4402
1,145.24
101.268
7.3480
1.2428
33.372
40.271
1.8330'
1,886.13
0.7627'
2.4352
1.2115
8.1936
5.9953
1.2449
7.7775
44.00
110.11
3.7869
10.894
0.7049'
6.4412
1.6639
6.3606
1,023.75
100.383
7.4710
1.2459
32.131
40.252
1.8204'
2,107.13
0.7266'
2.1528
1.1573
8.0350
6.2025
1.2028
7.7591
44.34
117.28
3.7040
10.749
0.6342'
6.6317
1.6211
6.2436
974.71
102.648
7.8109
1.3050
32.459
38.947
1.7442'
2,144.60
0.7369'
2.1281
1.1441
8.0143
6.0798
1.2273
7.7561
44.82
117.07
3.6626
11.049
0.6220'
6.3922
1.6008
6.0811
952.60
102.635
7.6005
1.2830
32.288
37.952
1.7680'
2,144.60
Indexes4
NOMINAL
24 Broad (January 1997=100)s
25 Major currencies (March 1973=100)°
26 Other important trading partners (January
1997=100)7
119.09
93.00
113.59
85.37
110.81
83.78
110.63
85.17
109.83
84.05
107.45
80.78
108.76
81.67
108.51
82.09
107.77
81.33
143.54
143.39
138.90
135.88
135.80
135.56
137.38
135.91
135.39
104.27
97.56
99.64'
90.60
98.10
90.49
98.44'
93.03'
98.27'
92.10'
96.45'
88.66'
97.85'
89.83'
97.85'
90.61'
97.17
89.75
122.47
121.11
117.34
114.55
115.42
115.79'
117.65'
116.50'
116.03
REAL
27 Broad (March 1973=100)s
28 Major currencies (March 1973=100)s
29 Other important trading partners (March
1973=100)7
1. Averages of certified noon buying rates in New York for cable transfers. Data in this
table also appear in the Board's G.5 (405) monthly statistical release, available at
www.federalreserve.gov/releases.
2. U.S. cents per currency unit.
3. The euro is reported in place of the individual euro area currencies. By convention, the
rate is reported in U.S. dollars per euro. The bilateral currency rates can be derived from the
euro rate by using the fixed conversion rates (in currencies per euro) as shown below:
Euro equals
13.7603
40.3399
5.94573
6.55957
1.95583
.787564
Austrian schillings
Belgian francs
Finnish markkas
French francs
German marks
Irish pounds
1,936.27 Italian lire
40.3399 Luxembourg francs
2.20371 Netherlands guilders
200.482 Portuguese escudos
166.386 Spanish pesetas
4. Starting with the January 2004 Statistical Supplement to the Federal Reserve Bulletin,
revised index values resulting from the periodic revision of data that underlie the calculated
trade weights are reported. For more information on the indexes of the foreign exchange value
of the dollar, see Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.
5. Weighted average of the foreign exchange value of the U.S. dollar against the currencies
of a broad group of U.S. trading partners. The weight for each currency is computed as an
average of U.S. bilateral import shares from and export shares to the issuing country and of a
measure of the importance to U.S. exporters of that country's trade in third country markets.
The source for exchange rates not listed in the table above but used in the calculation of this
index is Reuters Limited.
6. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that circulate widely outside the country of issue. The weight for each
currency is its broad index weight scaled so that the weights of the subset of currencies in the
index sum to one.
7. Weighted average of the foreign exchange value of the U.S. dollar against a subset of
broad index currencies that do not circulate widely outside the country of issue. The weight
for each currency is its broad index weight scaled so that the weights of the subset of
currencies in the index sum to one. The source for exchange rates not listed in the table above
but used in the calculation of this index is Reuters Limited.
57
Guide to Special Tables
SPECIAL TABLES—Data Published Irregularly, with Latest Bulletin or Supplement Reference
Title, Table Number, and Reporting Date for Data
Issue
Page
Reference
Assets and liabilities of commercial banks, 4.20
June 30, 2005
September 30, 2005
December 31,2005
March 31,2006
June 30, 2006
September
December
March
June
September
2005
2005
2006
2006
2006
58
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Supplement
Terms of lending at commercial banks, 4.23
August 2005
November 2005
February 2006
May 2006
November
February
May
August
2005
2006
2006
2006
58
58
58
58
Supplement
Supplement
Supplement
Supplement
Assets and liabilities of U.S. branches and agencies offoreign banks, 4.30
June 30, 2005
September 30,2005
December 31,2005
March 31,2006
November
February
May
August
2005
2006
2006
2006
64
64
64
64
Supplement
Supplement
Supplement
Supplement
August 2001
October 2001
January 2002
A76
A64
A64
Bulletin
Bulletin
Bulletin
September 2002
September 2003
September 2004
A58
A58
58
Bulletin
Bulletin
Supplement
September 2002
September 2003
September 2004
A67
A67
67
Bulletin
Bulletin
Supplement
September
September
September
September
2003
2004
2005
2006
A70
70
60
60
Bulletin
Supplement
Supplement
Supplement
September
September
September
September
2003
2004
2005
2006
A73
73
63
63
Bulletin
Supplement
Supplement
Supplement
Pro forma financial statements for Federal Reserve priced services, 4.31*
March 31,2001
June 30, 2001
September 30, 2001
Residential lending reported under the Home Mortgage Disclosure Act,
1989-2001
1990-2002
1991-2003
Disposition of applications for private mortgage insurance,
1998-2001
1999-2002
2000-2003
Small loans to businesses and farms,
1996-2002
1997-2003
1998-2004
1999-2005
4.34-4.411
4.42-4.45
4.46-4.48
Community development lending reported under the Community Reinvestment Act, 4.49
2002
2003
2004
2005
*The pro forma financial statements for Federal Reserve priced services are no longer published in the Bulletin after the January 2002 issue.
The statements are in the Board's yearly Annual Report to the Congress (www.federalreserve.gov/boarddocs/rptcongress).
58
Index to Statistical Tables
ACCEPTANCES, bankers (See Bankers acceptances)
Assets and liabilities (See also Foreigners)
Commercial banks, 15-21
Domestic finance companies, 30, 31
Federal Reserve Banks, 10
Foreign-related institutions, 20
Automobiles
Consumer credit, 34
Production, 42, 43
BANKERS acceptances, 5, 10
Bankers balances, 15-21 (See also Foreigners)
Bonds (See also U.S. government securities)
New issues, 29
Rates, 23
Business loans (See Commercial and industrial loans)
CAPACITY utilization, 40, 41
Capital accounts
Commercial banks, 15-21
Federal Reserve Banks, 10
Certificates of deposit, 23
Commercial and industrial loans
Commercial banks, 15-21
Weekly reporting banks, 17, 18
Commercial banks
Assets and liabilities, 15-21
Commercial and industrial loans, 15-21
Consumer loans held, by type and terms, 34
Real estate mortgages held, by holder and property, 33
Time and savings deposits, 4
Commercial paper, 22, 23, 30
Condition statements (See Assets and liabilities)
Consumer credit, 34
Corporations
Security issues, 29, 55
Credit unions, 34
Currency in circulation, 5, 13
Customer credit, stock market, 24
DEBT (See specific types of debt or securities)
Demand deposits, 15-21
Depository institutions
Reserve requirements, 8
Reserves and related items, 4—6, 12
Deposits (See also specific types)
Commercial banks, 4, 15-21
Federal Reserve Banks, 5, 10
Discount rates at Reserve Banks and at foreign central banks and
foreign countries (See Interest rates)
Discounts and advances by Reserve Banks (See Loans)
Discount rates (See Interest rates)
U.S. government securities held, 5, 10, 11, 25
Federal Reserve credit, 5, 6, 10, 12
Federal Reserve notes, 10
Federally sponsored credit agencies, 28
Finance companies
Assets and liabilities, 30
Business credit, 31
Loans, 34
Paper, 22, 23
Float, 5
Flow of funds, 35-39
Foreign currency operations, 10
Foreign deposits in U.S. banks, 5
Foreign exchange rates, 56
Foreign-related institutions, 20
Foreigners
Claims on, 45, 48^19, 52-53
Liabilities to, 45^17, 50-51, 54, 55
GOLD
Certificate account, 10
Stock, 5, 45
Government National Mortgage Association, 28, 32, 33
INDUSTRIAL production, 42, 43
Insurance companies, 25, 33
Interest rates
Bonds, 23
Consumer credit, 34
Federal Reserve Banks, 7
Money and capital markets, 23
Mortgages, 32
Prime rate, 22
International capital transactions of United States, 44—55
International organizations, 45, 46^17, 48, 50-55
Investment companies, issues and assets, 30
Investments (See also specific types)
Commercial banks, 4, 15-21
Federal Reserve Banks, 10, 11
Financial institutions, 33
LIFE insurance companies (See Insurance companies)
Loans (See also specific types)
Commercial banks, 15-21
Federal Reserve Banks, 5-7, 10, 11
Financial institutions, 33
Insured or guaranteed by United States, 32, 33
EURO, 56
FARM mortgage loans, 33
Federal agency obligations, 5, 9-11, 26, 27
Federal credit agencies, 28
Federal finance
Debt subject to statutory limitation, and types and ownership of
gross debt, 25
Federal Financing Bank, 28
Federal funds, 23
Federal Home Loan Banks, 28
Federal Home Loan Mortgage Corporation, 28, 32, 33
Federal Housing Administration, 28, 32, 33
Federal Land Banks, 33
Federal National Mortgage Association, 28, 32, 33
Federal Reserve Banks
Condition statement, 10
MANUFACTURING
Capacity utilization, 40, 41
Production, 42, 43
Margin requirements, 24
Member banks, reserve requirements, 8
Mining production, 43
Monetary and credit aggregates, 4, 12
Money and capital market rates, 23
Money stock measures and components, 4, 13
Mortgages (See Real estate loans)
Mutual funds, 13, 30
Mutual savings banks (See Thrift institutions)
OPEN market transactions, 9
Index to Statistical Tables
PRICES
Stock market, 24
Prime rate, 22
Production, 42, 43
REAL estate loans
Banks, 15-21, 33
Terms, yields, and activity, 32
Type and holder and property mortgaged, 33
Reserve requirements, 8
Reserves
Commercial banks, 15-21
Depository institutions, 4—6
Federal Reserve Banks, 10
U.S. reserve assets, 45
Residential mortgage loans, 32, 33
Retail credit, 34
SAVING
Flow of funds, 33, 34, 35-39
Savings deposits (See Time and savings deposits)
Savings institutions, 33, 34, 35-39
Securities (See also specific types)
Federal and federally sponsored credit agencies, 28
Foreign transactions, 54
New issues, 29
Prices, 24
Special drawing rights, 5, 10, 44
State and local governments
Holdings of U.S. government securities, 25
New security issues, 29
Rates on securities, 23
Stock market, selected statistics, 24
Stocks (See also Securities)
New issues, 29
Prices, 24
Student Loan Marketing Association, 28
THRIFT institutions, 4 (See also Credit unions and Savings
institutions)
Time and savings deposits, 4, 13, 15-21
Treasury cash, Treasury currency, 5
Treasury deposits, 5, 10
U.S. GOVERNMENT balances
Commercial bank holdings, 15-21
Treasury deposits at Reserve Banks, 5, 10
U.S. government securities
Bank holdings, 15-21, 25
Dealer transactions, positions, and financing, 27
Federal Reserve Bank holdings, 5, 10, 11, 25
Foreign and international holdings and transactions, 10, 25, 55
Open market transactions, 9
Outstanding, by type and holder, 25, 26
Rates, 23
U.S. international transactions, 44-55
Utilities, production, 43
VETERANS Affairs, Department of, 32, 33
WEEKLY reporting banks, 17, 18
YIELDS (See Interest rates)
59
@FedFRASER